How to Earn Scholarships for Volunteer Hours

Volunteering can be an amazing way to give back to your local community. But, for high school and college students, the benefits may go beyond good karma; they can actually land scholarships for volunteer service too.However, if they want to earn scholarships for volunteer work, your student does have to approach it the right way. To do that, they need to understand how scholarships for volunteer service work. Heres everything you need to know.Contents1 Can You Get a Scholarship for Volunteer Hours?2 Are There Volunteer Awards for High School Students?3 Do You Have to Volunteer with a Particular Organization?4 How Many Volunteer Hours to Get a Scholarship?5 Where Should You Volunteer to Get Scholarships?6 How Do You Win College Scholarships for Volunteering and Community Service?Can You Get a Scholarship for Volunteer Hours?To put it simply, yes, your student can get a scholarship for volunteer hours. However, volunteering doesnt necessarily mean your student is guaranteed to get a s cholarship.Most scholarships for volunteer work programs are competitive, just like any other award.Some scholarships concentrate on community service, so students with strong records of giving back have the most significant chance of receiving the award, regardless of their other credentials. Others consider volunteer hours along with other signs of merit, such as maintaining good grades, earning solid SAT or ACT scores, and taking a challenging course load in school.Each award has its own requirements for applying. Once the applications are received, a committee reviews the submissions and selects winners for the available scholarships by determining which students best represent the core values behind the award.Often, students who volunteer are seen as leaders in their communities, even if their position isnt officially in a leadership role. It also demonstrates they make giving back a priority, something many committees value.Are There Volunteer Awards for High School Students?Y es, there are volunteer awards for high school students. In fact, some scholarships that focus on volunteering allow teens as young as 13 to apply, giving your student a lot of time to earn some money for college.Even the awards that arent associated with a scholarship directly can help your high school student land scholarships. If they are recognized by a non-profit for their contributions, that award makes a great addition to their scholarship applications. This gives high schoolers plenty of options for getting the most out of their volunteer time.Do You Have to Volunteer with a Particular Organization?The short answer is, it depends. Some scholarships are awarded by non-profits to their volunteers. To be eligible, your student would need to meet their requirements, typically by volunteering a certain number of hours with that organization.However, if your student prefers to work with another non-profit, even one without its own scholarship program, they can go that route too.Ma ny scholarships for volunteer service arent restricted to time with a specific organization. Instead, volunteering with any reputable group can meet the requirements. This means volunteer hours at any suitable non-profit can help your student land those scholarships.Additionally, volunteering can help your student win scholarships with other groups too. Many scholarship applications give your student room to discuss their charitable contributions, even if the award isnt oriented to volunteering. Plus, your student can talk about their experiences in their scholarship essays, and that may help them stand out from other applicants.Ultimately, your student isnt usually restricted to a specific organization unless they are targeting a scholarship from that non-profit.How Many Volunteer Hours to Get a Scholarship?Heres another situation where the answer is, it depends. Some scholarships have a minimum number of hours that need to be completed before your student is eligible to apply, but others dont.For example, the Jesse Brown Memorial Youth Scholarship requests a minimum of 100 community service hours (and they have to be completed at a VA medical center).In contrast, the Comcast Leaders and Achievers Scholarship requires applicants have a demonstrated commitment to community service, so there isnt technically a minimum number of hours. However, it would be safe to say the more hours your student has before applying to a scholarship, the better.Certain programs, like the Segal AmeriCorps Education Award, require students to participate in a community service job for 12 months. However, this award is guaranteed if your student completes a full year.If your student is aiming at scholarships for volunteer service specifically, they may need to complete more volunteer hours than a student who is using their charitable actions to bolster other scholarship applications that arent volunteering-oriented.Where Should You Volunteer to Get Scholarships?If your student is re ady to start volunteering, there are tons of options. While your student may need to work with a specific organization for certain scholarships, others are incredibly flexible.Along with local chapters of big-name charities, like Habitat for Humanity and the United Way, your student can explore:Animal SheltersCommunity CentersFood BanksSchoolsHospitalsNursing HomesYouth Sports LeaguesPlaces of Worship (Churches, Synagogues, and Mosques)LibrariesMuseumsParks or BeachesBoy or Girl ScoutsCertain government organizations may also accept volunteers, though this is less common, especially if your student is under 18.If your student wants to land scholarships for volunteer service, have them consider which causes are closest to their heart and encourage them to start exploring there. That will make their experience as rewarding as it is potentially lucrative.How Do You Win College Scholarships for Volunteering and Community Service?Aside from the few programs where an award is guaranteed ( like the AmeriCorps scholarship above), your student typically has to compete against other applicants. They will have to complete an application, provide supplemental documentation, and write essays. Then, the scholarship committee reviews the materials to select awards recipients.If your student would like to learn more about writing winning scholarship essays, here are some articles to help out:How to Win Scholarships with the Right Scholarship Essay FormatHow to Write Winning Scholarship EssaysScholarship Essay Examples That Won MoneyIf you want to find out how to locate scholarships for volunteer work, join our free webinar! Youll learn more about the search and application processes, increasing the odds that your student can graduate debt-free. Head to http://thescholarshipsystem.com/freewebinar to see when out next training session is available.Pin144RedditShareLeave a Comment

The Ethical Dilemma Of Grand Nursing Theories - 1577 Words

Grand nursing theories are global in their application to nursing and have been instrumental in developing the science of nursing (McEwen Wills, 2014). Grand nursing theories are abstract and can be applied to many different situations. Because grand nursing theories are broad they can be applied to ethical dilemmas that occur in nursing practice. Ethical dilemmas are a part of the healthcare field and it is important to know how to navigate through the murky waters that dilemmas can present. Nursing theories are a road map that allows nurses and healthcare workers to find the best option to resolve a problem. One of the theories developed was by Virginia Henderson and called the theory of need and is still being applied to nursing†¦show more content†¦The patient’s son accused the nursing staff of mistreating his mother by administering pain medications to frequently which was causing his mother to be overly sedated and would not allow administration of pain medicat ion without his approval first. The son was refusing to accept his mother’s condition and assumed his mother would make a miraculous recovery, he was always coming to the hospital in the middle of the night drunk. Because the nursing staff was distressed over the son’s refusal to accept his mother’s condition, an ethics meeting was convened to decide what was ethically appropriate for the patient. After the meeting, the patient was changed to comfort care and nursing staff was allowed to administer medications as necessary to keep the patient comfortable. The nursing staff updated the son twice a day on his mother’s condition and the patient soon passed away with her son at the bedside. Grand Nursing Theory There are many grand nursing theories that could be applied to this ethical dilemma. However, Virginia Henderson recognized death as an option when treatment is no longer an option. Virginia Henderson developed the theory of need. The theory of need defines nursing as â€Å"assist[ing] the individual, sick or well, in the performance of those activities that will contribute to health or its recovery (or to a peaceful death) that the person would perform unaided given the necessary strength, will, or knowledge† (Henderson, 1997, p. 22). â€Å"She described theShow MoreRelatedApplying Ethical Frameworks in Practice - 1 Essay1237 Words   |  5 PagesRunning head: ETHICAL FRAMEWORKS IN PRACTICE Applying Ethical Frameworks in Practice Grand Canyon University NRS 437 V May 9, 2012 Applying Ethical Frameworks in Practice Patient confidentiality is part of the Nursing Code of Ethics and it is a nurses’ duty to uphold confidentiality of patient information (American Nurses Association, 2012). However, there are certain situations in which a confidentiality breach is acceptable, such as when a patient voices harm to themselvesRead MorePersonal Ethics856 Words   |  4 PagesEthics Melissa Sawyer Grand Canyon University May 5th, 2013 NRS 437 Ethical Decision Making in Nursing Personal Ethics The American Nurses Association defines nursing as, â€Å"protection, promotion, and abilities, prevention of illness and injury, alleviation of suffering through the diagnosis and treatment of human response, and advocacy in the care of individuals, families, communities, and populations† (American Nurses Association, 2004, p.7). My personal nursing philosophy stems fromRead MoreThe Code And The Deontological Decision Making Model962 Words   |  4 Pagesthe â€Å"highest ideals of nursing† (Fowler, 2010, p. xiii) and wrote the â€Å"Florence Nightingale Pledge† in her honor. To this day, nursing schools all over the country, recite this, or similar versions at, at graduation. This public expression of nursing’s values, commitments, and duties was the foundation for the American Nurses Association’s (ANA) Code of Ethics for Nurses with Interpretive Statements (The Code) that is so well known today. The Code is a â€Å"nonnegotiable ethical standard† that â€Å"providesRead MoreEthical Dilemma Analysis Essay1048 Words   |  5 Pagesis it OK to break confidentiality? Eva Tovstiga Grand Canyon University: NRS 437V March 28, 2013 When is it OK to break confidentiality? A teenager presents to an emergency department (ED) and is promised no information will be divulged regarding her treatment. This teenager is subsequently diagnosed with cervical cancer and human papillomavirus (HPV) (Nathanson, 2000). The nurse that promised confidentiality now faces an ethical dilemma: if she keeps her promise to the girl, she may notRead MoreAnalysis of an Ethical Dilemma Essay1232 Words   |  5 Pages Analysis of an Ethical Dilemma (Part1) Voluntary/ Assisted Euthanasia By Feba Erattakulangara, Jacinda Koski, Nne Uyoh, Olga Gray Grand Canyon University Ethical Decision Making in Health Care NRS 437V February 24, 2013 Analysis of an Ethical Dilemma (Part1) Voluntary/ Assisted Euthanasia Amongst the multitude of ethical dilemmas in health care the debate about voluntary or assisted euthanasia presents to be theRead MoreEssay Applying Ethical Frameworks in Practice1217 Words   |  5 PagesModule 3 Applying Ethical Frameworks in Practice Lijimol Biju Grand Canyon University NRS-437V Ethical Decision Making in Health Care 01/08/2012 Applying Ethical Frameworks in Practice In the health care, the main idea of having confidentiality is for to gain the patients and family members trust. At any time this confidentiality is broken or the private matters are disclosed it is called a breach of confidentiality. Patients have the right for privacy related to their health care mattersRead MoreVoluntary/Assisted Euthanasia Essay1200 Words   |  5 PagesVoluntary/Assisted Euthanasia Grand Canyon University Ethical Decision Making in Health Care Voluntary/Assisted Euthanasia (Thesis, Description of the topic and related ethical implications, Obligations to your profession and work as a nurse) Debra Burden The purpose of this paper is to define the issue and legalities of assisted death and the key ethical arguments, including the social values and norms, encompassing this topic. Also included in this paper on voluntary/assisted suicideRead MoreEssay Applying Ethical Framework in Practice1062 Words   |  5 PagesApplying Ethical Framework in Practice Adele Wolf, RN Grand Canyon University Ethical Decision Making in Health Care NRS 437V Charlene Cowley, MS, RN, CPNP February 26, 2011 Applying Ethical Framework in Practice Confidentiality is the right of an individual patient to have personal, identifiable medical information kept private; such information should be available only to the physician of record and other health care and insurance personnel as necessary. The only time informationRead MoreSymptom Management Theory ( Smt ) Of The University Of California1560 Words   |  7 PagesSymptom Management Theory The symptom management theory (SMT) of the University of California, San Francisco (UCSF), was revised by its faculty and students in 2001 (Smith Liehr, 2014). According to Dodd et al. (2001), the subjective experience that suggests alterations in an individual’s functioning, sensation, and cognition is called a symptom. Dodd et al. state that their theory provides a nonspecific symptom management model to guide nursing practice and research. The SMT has three overlappingRead MoreThe Theory Of Goal Attainment1481 Words   |  6 PagesImogene King introduced her mid-range Theory of Goal Attainment (this theory has also been referred to as the theory of goal achievement (Johnson and Webber, 2010)). This theory is based on the grand theory called the Conceptual System, also created by King (Frey et al: 2002). To understand the more focused mid-range theory it is important to first quickly understand the conceptual system. The conceptual system was created using systems analysis and systems theory literature (Johnson and Webber, 2010)

5 Dancing Deities in Mythology

Week 4 Scholarly vs. Popular Media Focus on Sexuality Paper

Introduction This assignment will help you explore the way a topic in human sexuality is covered in two very different sources: 1) a scholarly journal; and 2) a popular media source.For more information to help you understand the difference between those sources, please use this link to the APU library http://apus.libanswers.com/a.php?qid=5312. You will summarize a scholarly article (peer-reviewed, evidence-based, original research) and one popular media article on your topic. Once you see how the topic is covered in each source, you will write a paper: 1. comparing and contrasting the coverage; 2. discussing the relative merits of each; and 3. addressing which of the two approaches (scholarly or popular media) is better†¦show more content†¦Ã‚ · Once you have found an acceptable article, read it completely.  · Read the abstract and introduction at the beginning and the conclusion at the end of the article first. The topic and hypothesis will be provided in these sections. Then read the methodology and data/results sections. Reading the introduction, summary, and abstract will help you better understand and follow the data-heavy results section. Step 2: Summarize the scholarly article  · Write a 1-page summary of the single scholarly article you selected, including:  · The hypothesis of the study on which the article reports.  · How the study was conducted, including:  · The group of people researched and written about (colleges students? adolescents? the elderly? military members? sexual minorities? etc.)  · The research method used (i.e. naturalistic observation, lab experiment, survey, etc.)  · The results of the study, the interpretation of the data by the authors and any conclusions they include at the end of the article.  · Edit and revise your summary for content, grammar, and APA format. Using APA format, identify the article title, the article authors, the journal in which the article was published, the date of publication, and the focus of the research. Step 3: Find and summarize the popular media article  · Find and analyze/summarize an article from the popular media that covers the same topic as the scholarly paper. Acceptable popularShow MoreRelatedA Concise Guide to Market Research Using Spss71933 Words   |  288 Pagesprotective laws and regulations and therefore free for general use. Cover design: WMXDesign GmbH, Heidelberg, Germany Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com) To Irma and Alexandra . Preface Charmin is a 70-year-old brand of toilet paper that made Procter Gamble the undisputed leader in the US toilet paper market. In Germany, however, Charmin was unknown to consumers, something Procter Gamble decided to change in the early 2000s. AcknowledgingRead MoreContemporary Issues in Management Accounting211377 Words   |  846 PagesData available Library of Congress Cataloguing in Publication Data Data available Typeset by SPI Publisher Services, Pondicherry, India Printed in Great Britain on acid-free paper by Antony Rowe Ltd., Chippenham, Wiltshire ISBN 0–19–928335–4 978–0–19–928335–4 ISBN 0–19–928336–2 (Pbk.) 978–0–19–928336–1 (Pbk.) 1 3 5 7 9 10 8 6 4 2 3 FOREWORD ‘ Michael Bromwich is an exemplar of all that is good about the British tradition of academic accounting. Serious in intent, he has striven both toRead MoreOrganisational Theory230255 Words   |  922 Pagestheir writing is accessible and engaging, their approach is scholarly and serious. It is so easy for students (and indeed others who should know better) to trivialize this very problematic and challenging subject. This is not the case with the present book. This is a book that deserves to achieve a wide readership. Professor Stephen Ackroyd, Lancaster University, UK This new textbook usefully situates organization theory within the scholarly debates on modernism and postmodernism, and provides an advancedRead MoreLogical Reasoning189930 Words   |  760 Pages.............................................................................. 119 Exercises .......................................................................................................................................... 122 CHAPTER 4 How to Evaluate Information and Judge Credibility..................................... 137 The Principles of Charity and Fidelity ............................................................................................ 137 When Should YouRead MoreA Picatrix Miscellany52019 Words   |  209 PagesHe adds a summary of the contents of his four books (pp.1-3). This is replaced, in some manuscripts, by a detailed list of contents, arranged by chapter, of which a translation will be found on pp. lxxvi-lxxviii of the present volume. Chapter 1 (pp.4-7) demonstrates the importance of philosophy, on the one hand for the understanding of matters divine, natural and moral, and on the other as the premise for magic, which is its conclusio. In the first section there are verbal echoes of al-Fà ¢rà ¢bà ®Ã¢â‚¬â„¢s

An Analysis of Three Important Messages from Rime of the...

In the course of our lives, many of us, for the most part have committed some sort of mistake or wrong doing. These mistakes can be small, others not so much. Sometimes our mistakes have consequences that will come after them, leading to the conclusion of learning from our mistake. However, from a religious perspective, mistakes are either made up by repentance or a penance. The penance part is a sort of punishment in order to make up for the wrong doing you have committed. I, being Catholic, a form of penance have been familiar to me, since a very small age. The penance given to the man in â€Å"Rime of the Ancient Mariner† is in fact credibly harsh. However, we can learn from our mistakes, in doing this we can look at the messages in the poem†¦show more content†¦As he states, â€Å"Since then, at an uncertain hour, that agony returns and till my ghastly tale is told this heart within me burns.† (Coleridge, Rime of the Ancient Mariner, page 844, lines 582-585 ) This penance given to this ancient mariner shows and tells us that all forms of life are precious and should not be harmed. This goes for the bird that he killed at sea and for the boy he is speaking to and trying to pass this message along so that hopefully no one in the future ends up with the â€Å"agony in his heart† to tell of the evil he has committed. The final important message from this poem is to treat all life with respect. This main point is the climax of the mariner’s tale. He states, â€Å"All things both great and small; for the dear God who loveth us, He made and loveth all.† When the boy hears this final statement he is put into a short of trance. No longer does he want to attend the wedding party or no longer does he have the same view of life as he did before. This mariner has told him to treat all life with respect, such as he didn’t do with the albatross, and now I believe the boy sees what position this ancient mariner is now. T his boy has shown this man the respect he needs and now the larger lesson of treating life with respect was shown to the boy. The three important messages of treating life with respect, all life is precious and to liveShow MoreRelated Symbolism in â€Å"The Rime of the Ancient Mariner† Essay1712 Words   |  7 Pages In 1798, Samuel Taylor Coleridge published his poem â€Å"The Rime of the Ancient Mariner†. Several editions followed this, the most notable being the 1815 version, which included a gloss. This poem has grown to become well known and debated, especially concerning the message that Coleridge was attempting to impart. The interpretation of the poem as a whole and of various characters, settings, and objects has been the subject of numerous essays, papers, books, and lectures. There are approximatelyRead MoreCritical Analysis of Coleridges The Rime of the Ancient Mariner2466 Words   |  10 Pagescomplex web of themes and symbols within the seemingly si mple plot line of The Rime of the Ancient Mariner. The story of the seafarer with the glittering eye (1.13) and his puzzling tale at sea told to an unwilling listener, the Wedding Guest, unfolds into a multifaceted array of planned sequences, heavy religious undertones, and hints at a biographical account of Coleridges past. If one reads The Rime of the Ancient Mariner simply as a tale at sea, the poem stands as a remarkable one with its continuousRead MoreFrankenstein Study Guide14107 Words   |  57 Pagessearching for the source of magnetism in the northern polar regions. There he finds and rescues Dr. Victor Frankenstein from certain death in the icy ocean. While he is recovering, Frankenstein tells Walton the story of his life. Set within Frankenstein’s narrative and Walton’s letters is the first-person story told by the creature Frankenstein created. Frankenstein, a young man from a happy family in Geneva, Switzerland, becomes obsessed with the idea of bestowing life on inanimate matter. He studiesRead MoreStylistic Potential of the English Noun16714 Words   |  67 Pages-30 1.5.4 Stylistic potential of the category of article determination -34 Chapter Two. Analysis of examples taken from fiction on the basis of considered theoretical phenomena -42 2.1 Analysis of the examples regarding the category of gender -43 2.2 Analysis of the examples regarding the category of number -53 2.3 Analysis of the examples regarding the category of case -55 2.4 Analysis of the examples regarding the category of article determination Read MoreAmerican Literature11652 Words   |  47 Pagesapart from her true love Style: ï‚ · ï‚ · ï‚ · ï‚ · short stories and novels hold readers attention through dread of a series of terrible possibilities feature landscapes of dark forests, extreme vegetation, concealed ruins with horrific rooms, depressed characters Effect: ï‚ · ï‚ · ï‚ · ï‚ · today in literature we still see portrayals of alluring antagonists whose evil characteristics appeal to one s sense of awe today in literature we still see stories of the persecuted young girl forced apart from her

Effect Of Increasing Business Investment †MyAssignmenthelp.com

Question: Discuss about the Effect Of Increasing Business Investment. Answer: In this particular discussion paper, the economic scenario of Australia has been critically analysed based on interest rate decisions of the Reserve Bank of Australia. The mounting pressure of government budget deficit can be identified as one of the largest economic challenges for Turnbull government. Under the current circumstances, in order to reduce the budget deficit, Prime Minister Malcolm Turnbull has cut down the government expenditure in all fronts. As a result of the consequences, investors are reluctant to invest in the economy. In order to tackle the uncertainties of the Australian economy, the RBA has kept the benchmark interest rate to record low at 1.5 percent so that the borrowers will be encouraged to invest in the market (Letts, 2017). Precisely, the impact of the fall in the interest rate on the business investment in Australia has been elaborated in the study. At the same time, the study discusses the effect of increasing business investment due to lower interest rates on the aggregated demand curve, real GDP, and price level in the Australian economy. During the time of economic slowdown, Central Banks of leading as well as developing economies have lowered the benchmark interest rate to boost the economy. In the meanwhile, lower benchmark interest rate policy implemented by the RBA can be considered as one of the vital aspects of Monetary Policy. In the last five years, the Reserve Bank of Australia has reduced the interest rate from 4.25 percent in 2012 to 1.5 percent in 2017 (Tradingeconomics.com, 2017). Hence, an increase in the flow of money can be evident in the Australian market due to the fall in the Banks interest rate. Figure 1 has been given herein below to present the last five years Interest Rate in Australia: Figure 1: Australia Interest Rate (2012 2017) Source: (Tradingeconomics.com, 2017) Precisely, due to the lower rate of benchmark interest, borrowing will be cheaper (Catala?n, Guajardo and Hoffmaister, 2008). As a result of the consequences, both the spending and investment will increase boosting the economic progress and stability. Invariably, lower interest rate provides a smaller return from savings. Therefore, the social public tends to spend the money or invest the money rather than holding the capital (Forstater, 2016). In this way, spending, as well as investment in the market, has been increased. Furthermore, the lower rate of interest rate encourages the consumers and business firms to take loans as borrowing costs are reduced. As a result of the scenario, spending and investments are encouraged leading to greater finance. In addition, lower interest rates contribute to the rising prices of assets such as housing. Due to asset buying, the price of housing will increase so as the consumer confidence (Heath, 2017). Thus, the consumer spending will be higher as well. Based on such aspects, it can be said that lower rate of interest implemented by the RBA will certainly encourage higher investment and spending in the Australian economy. On the basis of the above discussion, it can be assumed that the lower interest rate will increase the business investment in Australian economy. However, the increase in business investment will have certain impact on aggregated demand curve, real Gross Domestic Product, and price level in the Australian economy. The impact of the increase in business investment on the aggregate demand, GDP and Price level has been demonstrated using the figure 2 as below: Figure 2: Impact of increase business investment on Aggregated Demand curve, real Gross Domestic Product, and Price Level Source: (Forstater, 2016) Due to increase in business investment followed by lower benchmark interest rate, the money supply will be increased in the economy. For instance, the increase in business investment will increase the income of the people in Australia resulting in an increase in the purchasing power of the buyers. As a result, the aggregated demand curve will be shifted towards right side from AD to AD1 indicating an increase aggregated demand (Forstater, 2016). Convincingly, as shown in figure 1, the increase in monetary flow due to lower interest rate will cause a rise in aggregated demand. However, the aggregate supply will remain constant in the short run as there is no chance of utilisation more resources in a shorter period of time (Phan, 2014). Hence, the aggregate supply curve will remain constant at AS as presented in the above figure. By following the theory of demand and supply, the rise in the aggregate demand in the market due to the fall in the borrowing rate and increase in the flow of money, the aggregate price level of the product in the Australian economy is expected to increase. On the basis of figure 2, it can be seen that the shift in the aggregate demand curve from AD to AD1 leads to an increase in the aggregate price level from P1 to P2. Therefore, an increase in inflation can be evident in the Australian economy (Fender, 2012). Moreover, the rise in the aggregate demand will also lead to increase in the aggregate consumption that will further increase the real GDP of the nation. For instance, it can be seen from figure 2 that the real GDP of Australia will increase from Q1 to Q2 due to the increase in the aggregate consumption because of the rise in aggregate demand (Scott, Rabanal and Kannan, 2009). Hence, it can be clearly seen from the above illustration that the fall in the interest rate by the R eserve Bank of Australia will lead to increase in the business investment in the nation that will further increase the aggregate demand, real GDP and price level. By considering the above analysis, it can be seen that the decision of reducing the interest rate works in the favour of the Australian economy. The fall in the interest rate will increase the flow of money in the market that will gradually increase business investment. Additionally, the increase in the business investment will increase the earning of the people and enhance the buyers purchasing power. Furthermore, the increase in business investment will boost up the Australian economy by increasing the aggregate demand, price level of products and services and the real GDP of the nation. References Catala?n, M., Guajardo, J. and Hoffmaister, A. (2008).Global aging and declining world interest rates. 4th ed. Washington, D.C.: International Monetary Fund, IMF Institute and European Dept. Fender, J. (2012).Monetary policy. 3rd ed. Chichester, West Sussex: Wiley. Forstater, M. (2016). Economics. 5th ed. London: A. C. Black. Heath, M. (2017).Australia's interest rates aren't as stimulatory as RBA thinks. [online] The Sydney Morning Herald. Available at: https://www.smh.com.au/business/the-economy/australias-interest-rates-arent-as-stimulatory-as-rba-thinks-20170730-gxlxjo.html [Accessed Sep. 2017]. Letts, S. (2017).RBA holds rates at record low 1.5pc, warns of high dollar risks. [online] ABC News. Available at: https://www.abc.net.au/news/2017-08-01/rba-holds-rates-at-historic-low/8763628 [Accessed Sep. 2017]. Phan, T. (2014). Output Composition of the Monetary Policy Transmission Mechanism: Is Australia Different?.Economic Record, 90(290), pp.382-399. Scott, A., Rabanal, P. and Kannan, P. (2009). Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts. 3rd ed. Washington: International Monetary Fund. Tradingeconomics.com. (2017).Australia Interest Rate | 1990-2017 | Data | Chart | Calendar | Forecast. [online] Available at: https://tradingeconomics.com/australia/interest-rate [Accessed Sep. 2017].

Earnings Management to Avoid Earnings Decreases and Losses

Question: Describe about the facts about Earnings Management to Avoid Earnings Decreases and Losses? Answer: Introduction The company taken for the study is GAP INC. It is a retail operator in global apparel which operates in 90 countries. The hypothesis is tested through the annual reports of Gap Inc. taken between the years 2010 and 2015. Particular emphasis is given to the years 2011, 2012, 2013, and 2014. The study is made in three parts. The first part is about the finding of Charles et al. on Other Comprehensive Income (OCI) and AOCI. The second part is about earnings management and trends in estimates according to the findings of Burgstahler and Dichev. The third part is about News Disclosures, their timeline and market reaction. Literature Overview Other Comprehensive Income From the financial reports of Gap Inc, we find that the comprehensive income comprises of net income as well as other gains and losses that affect equity and excluded from net income. The OCI components are Foreign currency translation gains and losses, net of tax; Changes in the fair value of derivative financial instruments, net of tax Adjustments reclassified for realized gains and losses on derivative financial instruments, net of tax. Annual Reports for study of GAP INC Annual Report 2011(Murphy, 2011 Annual Report) Annual Report 2012(Murphy, 2012 Annual Report) Annual Report 2013(Murphy, 2013 Annual Report) Annual Report 2014(Peck) Proxy Report 2015(Yahoo) Charles et al study and FASB(Chambers, Lismeier and Shakespeare) Charles et al have made a study comparing findings between tests, where comprehensive income using as-reported income post-SFAS 130 period and pre-SFAS 130 period to ascertain the measurement error effect on returns-relevance tests on OCI. The study is made to show that OCI is not priced by investors. Two components of ICI, which are unrealized gains/losses on securities available-for-sale, are priced by investors. According to archival evident, OCI report in shareholders equity in the statement of changes is weighted heavier than OCI as present in performance statements by investors. Pension adjustments in performance statements have been weighted negatively while that, which is reported in statement of changes in equity, provides a positive weight by investors. OCI is priced as predicted by the economic theory relating to transitory income items post-SFAS 130 on a dollar-for-dollar basis. Financial statement of GAP INC. The financial statements of Gap Inc help to study findings of Charles et al for a period of five years from 2010 to 2016 (February). OCI in financial statement or footnotes We find that Gap Inc has incorporated the updated FASB accounting standards in their annual reports from 2012 with unrealized gain/loss for each component both in the financial statements and in footnotes. Unrealized gains and losses that relate to investments, derivative hedges and foreign currency fluctuations are main components of OCI. The derivative financial instruments gains and losses which are designated as cash flow hedges are reported as a component of OCI. Unrealized gains and losses on marketable securities and foreign currency translations are two components that are estimated by Item 238- marketable securities adjustment and item 230- retained earnings-cumulative translation adjustment respectively. It is (in $M) 28 in 2014; 17 in 2013 and 6 in 2012(Peck). The footnotes of Gap Inc. state long-term debt in note 5 including interest expense; share-based compensation in note 10; leases in note 11; income taxes in note 12; employee benefits plans in note 13; earnings per share in note 14 and segment information in note 16 (Murphy, 2013 Annual Report). Prominent display for user to incorporate in their analysis Derivatives in cash flow hedging relationship show gains recognized in OCI as $166 in 2014; $78 in 2013 and $46 in 2012. Derivates in net investment hedging relationships, show gain in OCI as $4 in 2014; $17 in 2013 and none in 2012 ($million). Pattern of each OCI component over time ($ in millions) Table 1: Foreign Currency Transaction Component 2014 2013 2012 Mean Variance Standard Deviation Foreign currency transaction gain/loss -$34 $1 -$3 12.67 342.33 18.50 Realized and unrealized gain from certain derivative financial instruments 28 16 9 17.67 92.33 9.61 Net foreign exchange gain/loss -$6 $7 $6 6.33 0.33 0.58 Source: Annual Report of Gap Inc. Table 1 shows that foreign currency transaction gain/loss appear relatively independent and fluctuate randomly up and down across the years. Table 2: Derivatives in Cash Flow Hedging Relationships Component 2014 2013 2012 Mean Variance Standard Deviation Derivatives in cash flow hedging relationships 166 78 $76 106.67 2641.33 51.39 Gain recognized in other comprehensive income $53 $59 $5 39 876 29.60 Gain reclassified into cost of goods sold and occupancy expenses $8 $11 $4 7.67 12.33 3.51 Derivatives in net investment hedging relationship Gain recognized in other comprehensive income $4 $17 - 7 79 8.89 Source: Annual Report of Gap Inc. The consistency in cash flow helps to measure earnings over time. The publication of separate statements helps to establish the relevance of the components of OCI. The asset group is available at its lowest level with identifiable cash flows and is largely independent of its cash flows within another group of assets. Footnote disclosure of AOCI As the company did not liquidate or sell its hedged subsidiaries during these periods, the accumulated OCI has not been reclassified into derivative financial instruments income under net investment hedging relationship. Table 3: Accumulated Other Comprehensive Income under Note 10 in Annual Report 2014(Peck) $ in millions Foreign Currency Transaction Cash Flow Hedges Total Mean Variance Standard Deviation Balance at Feb 2014 107 29 135 90.33 3017.33 54.93 Foreign currency transaction -47 - -47 -31.33 736.33 27.14 Change in fair value of derivative financial instruments - 118 118 68.67 4641.33 68.13 Amounts reclassified from accumulated OCI - -41 -41 -27.33 560.33 23.67 OCI -47 77 30 20 3919 62.60 Balance at Jan 31, 2015 60 105 165 110 2775 52.68 Source: Annual Report of Gap Inc. Additional disclosures are provided in note 8 regarding reclassification of AOCI and its effect on the consolidated statement of income under their respective items. Table 4: Other comprehensive income or loss, net of tax according to financial reports of GAP INC.(Murphy, 2013 Annual Report) Other comprehensive income or loss, net of tax in $ 2014 2013 2012 2011 Mean Variance Standard Deviation Foreign currency translation, net of tax -47 -51 -71 24 -36.25 1723.58 1.52 Change in fair value of derivative financial instruments, net of tax 118 48 28 -11 45.75 2920.25 54.04 Adjustments reclassified for realized gains or losses on derivative financial instruments, net of tax benefit -41 -43 -5 31 -14.50 1225 35 Other comprehensive income or loss, net of tax 30 -46 -48 44 -5 2385.33 48.84 Source: Annual Report of Gap Inc. Consistent signals in companies about earnings quality have low persistent earnings. This is due to negative forecast revisions and high accruals or positive forecast revisions and low accruals. We find that Charles et al has made the study stating that unrealized gains and losses which are components of OCI are from 1) sponsoring defined benefit pension plans 2) re-measure of net assets from foreign subsidiaries 3) Hedging derivatives 4) holding marketable securities. Earnings Management/Trends in Earnings (Burgstahler and Dichev) Burgstahler and Dichev have found strong evidence to the fact the earnings are managed by firms to control loss and decrease in income. About 12% manage earnings and avoid a decrease in earnings. About 44% manage earnings to show positive earnings. They point out that the cash flow from operations is used to manage earnings (Burgstahler and Dichev). Long-term summary of income in the annual report. Table 5: Trends in Earnings Year Market Value (in million USD) Income (in million USD) Scaled Value (in million USD) Earnings per share Estimated Earnings per share 2010 - 1204 - 1.89 1.87 2011 9354.7 833 -0.040 1.57 1.59 2012 12362.2 1135 0.024 2.35 2.45 2013 16471.9 1280 0.009 2.78 2.60 2014 17906.9 1262 -0.001 2.90 2.80 2015 18145 2390 0.062 2.43 2.43 Source: Fortune 500 Using Burgstahler and Dichevs methodology in the annual report of Gap Inc. we find that Gap Inc. has shown a steady increase in income from the year 2011 to 2015. Though its income fell in 2011 from $1204m to $833 m, it has been steadily increasing from $833m to $2390m in 2015. The market value of the company for the beginning of each year as well as the earnings per share has been taken from Fortune 500. The scaled changes in yearly earnings are calculated as: Scaled changes = (This years earnings-last years earnings)/Last years beginning market value. From Table 4.1we find that the scaled earnings have fallen less than zero in 2011 and 2014 due to lower earnings. In 2014 it is very close to zero and has missed it very marginally; however it has recorded a steep fall in 2011. In 2012, 2013 and 2015, it has fallen on the positive side of zero. This scaling shows systematic relations between signs of market price and earnings(Gardner). The scaled value has fallen most in 2011(Huddleston). Burgstahler and Dichev show that scaled earnings distribution exhibit discontinuities at zero and that mangers have to take both accounting and real actions to avoid loss. It also shows that managers feel inclined to incur real costs in order to reach targets. The estimated earnings per share have been taken from the website Fortune 500. By comparing the actual with the estimated earnings, we find that the actual earnings per share is more than the estimate marginally in 2010 while in 2011 it has decreased marginally. However in 2015 the actual and estimated earnings per share are equal. An investor appreciates a company that shows positive movement and is able to surpass estimates. It makes him retain his investment in the company as he would get good returns. Good News / Bad News Disclosures This is the third part of the project that looks at the news that the company has announced for its calendar year of 2015 from the SEC website to EDGAR to find Gap Incs filings for 2015. Specifically, all the Form 8-K filings made by the company during the year have been taken. Form-8 filing (Yahoo!)(SEC) Form 8-K, filed with the SEC, helps to notify investors in US public companies regarding specific important events like bankruptcy, change of CEO, etc., have to be filed on Form 8-K as a Current Report within four business days. Good News Entry into a material definitive agreement on Oct 16, 2015; May 21, 201; Bad News Change in directors or principal officer, Financial condition, Financial statements and Exhibits on Oct 21, 2015; Sep 30, 2015; Mixed News Bylaws amended and restated on Nov 14, 2014 Indenture by and between Registries and Wells Fargo Bank on April 12, 2011 To a Vote of Security Holders, Submission of Matters on May 20, 2015; Neutral News Results of Operations and Financial Conditions on Feb 8, 2016; Nov 19, 2015; Nov 9, 2015; Aug 20, 2015; Aug 10, 2015; Feb 26, 2015; Feb 9, 2015. Regulation FD Disclosure, Exhibits and Financial Statements on Jan 7, 2016; Dec 3, 2015; October 8, 2015; September 3, 2015; July 9, 2015; June 4. 2015; April 9, 2015; March 5, 2015 Other Events, Financial Statements and Exhibits on Mar 6, 2015; Time line The earnings announcements are made through quarterly reports. The dates of these quarterly reports are Dec 8, 2015; Sept 8, 2015; June 8, 2015; March 23, 2015. The earnings announcements through quarterly reports are made on the 8th of June, September and December 2015 while in March it is on the 23 Results of operations and financial condition, financial statement and exhibits are made twice in November, August and February The Regulation FD disclosure, financial statement and exhibits are made for two consecutive months but not on the third month. They occur in March and April but not in May June and July but not in August September and October but not in November Other events like a change in directors, entry into a material definitive agreement, and to a vote of security holders, submission of matters do not occur frequently but once or twice a year. Market reaction The market price for 2014 shows a high of $44.59, 42.37. $46.85 and $43.85 in the first, second, third and fourth quarter respectively. It shows a low of $37.00, 38.38, $35.46 and $37.20 for first, second, third and fourth quarter respectively. It has increased during the first and last quarter but decreased during the second and third quarter from its previous year. Through credible future signals, managers can enhance earnings quality. Markets react to good news when statements of disclosures accompany them. Investors seek credibility in the market forecast through disclosures. Conclusion With the proposed change to the 2007 amendment to IAS 1, the users make use of OCI components information regarding the timing and amount of future cash flows, financial instruments and employee benefits(Norwalk). Chambers et al. have found that two components of OCI which are foreign currency translation adjustment as well as unrealized gains/losses on available-for-sale securities have been priced by investors. Burgstahler and Dichev methodology has also been applied to show that income is manipulated to project a better picture to the user. The market fluctuates to good, bad, neutral and mixed news and it is found true through the analysis of the reports of Gap Inc. Though the analysis is limited, the findings are relevant for the welfare of the user. Works Cited Burgstahler, David and LLia Dichev. "Earnings Management to Avoid Earnings Decreases and Losses." Journal of Accounting and Economics (1997): 99-126. Chambers, Dennis J, et al. "An evaluation of Sfas No. 130 Comprehensive Income Disclosures." Social Science Research Network (2006): 557-593. Gardner, David. Motley Fool . 5 December 2015. 25 February 2016 . Huddleston, Tom. Fortune. 16 February 2016. 24 February 2016 https://fortune.com/fortune500. Murphy, Glenn. "2011 Annual Report." Sharing American Style (2012): 1-100. . 2012 Annual Report. Annual Report 2012. California: Gap Inc., 2013. . 2013 Annual Report. Annual Report 2013. California: Gap Inc., 2013. Norwalk, C T. "Presentation of Items of Other Comprehensive Income." IFRS (2011): 1-12. Peck, Art. 2014 Annual Report. Annual Report. California: Gap Inc., 2015. SEC. SEC. 31 January 2015. 25 February 2016 https://www.sec.gov/Archives/edgar. Yahoo. GPS Proxy Statement 2015. 24 February 2016. 24 February 2016 https://finance.yahoo.com. Yahoo! Yahoo! Finance. 24 February 2016. 25 February 2016 https://finance.yahoo.