Childhood Nutrition Taking A Closer Look At The Mixed...

Childhood Nutrition - Taking a Closer Look at the Mixed Messages We Send Our Kids By Colleen Trombley-VanHoogstraat Jun 4, 2009 Children s nutrition is a loaded subject. At no other time in our lives is building a solid foundation for health more important. Yet, at no other time in our lives are we so completely at the mercy of others making decisions for us. That means it s up to the grown-ups in a child s life to understand the importance of healthy food (and beverage) choices in order to introduce healthy habits to their children. Easier said than done! It seems as though, in the case of children s nutrition specifically, the simplicity of healthy choices becomes muddled with strange connotations of what a happy childhood should be and what our oftentimes skewed views of food are as adults. Our society is familiar with the concept of an early window of opportunity to teach children things like foreign languages or a skill, like playing a musical instrument. We ve heard that children are at peak developmental stages very early in life, and therefore we should maximize their opportunities by teaching them these advanced concepts at early ages. Whether you agree or not, have applied it with your children or not, it s a socially acceptable concept that seems to make sense to most people. It s peculiar that, as a society, we don t yet understand that the very same principles apply to the health of a child. The early developmental years are a critical time forShow MoreRelatedDeveloping Management Skills404131 Words   |  1617 PagesSupportive Communication Is Specific (Useful), Not Global (Nonuseful) 253 Supportive Communication Is Conjunctive, Not Disjunctive 254 Supportive Communication Is Owned, Not Disowned 255 Supportive Communication Requires Supportive Listening, Not One-Way Message Delivery 256 The Personal Management Interview 260 International Caveats 263 SKILL ANALYSIS 266 Cases Involving Building Positive Relationships 266 Find Somebody Else 266 Rejected Plans 267 CONTENTS ix SKILL PRACTICE 269 Exercises for DiagnosingRead MoreLogical Reasoning189930 Words   |  760 Pagesattract readers. Stanley Baronett. Jr., University of Nevada Las Vegas Far too many authors of contemporary texts in informal logic – keeping an eye on the sorts of arguments found in books on formal logic – forget, or underplay, how much of our daily reasoning is concerned not with arguments leading to truth-valued conclusions but with making choices, assessing reasons, seeking advice, etc. Dowden gets the balance and the emphasis right. Norman Swartz, Simon Fraser University v Acknowledgments Read MoreExploring Corporate Strategy - Case164366 Words   |  658 Pages(or speciï ¬ cally written) to provide readers with a core of cases which, together, cover most of the main issues in the text. As such, they should provide a useful backbone to a programme of study but could sensibly be supplemented by other material. We have provided a mixture of longer and shorter cases to increase the ï ¬â€šexibility for teachers. Combined with the illustrations and the short case examples at the end of each chapter (in both versions of the book) this increases the reader’s and tutor’sRead More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 Pagesrecording, taping, Web distribution, information storage and retrieval systems, or in any other manner—without the written permission of the publisher. Thomson Higher Education 10 Davis Drive Belmont, CA 94002-3098 USA For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563 For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com. Any additional questions about permissions can be submittedRead MoreProject Mgmt296381 Words   |  1186 Pagesmy wife (Mary), my sons and their wives (Kevin and Dawn, Robert and Sally) and their children (Ryan, Carly, Connor and Lauren). C.F.G. â€Å"We must not cease from exploration and the end of all exploring will be to arrive where we begin and to know the place for the first time.† T. S. Eliot To Ann whose love and support has brought out the best in me. And, to our girls Mary, Rachel, and Tor-Tor for the joy and pride they give me. Finally, to my muse, Neil, for the faith and inspiration he instills

Essay on Abortion Women Should have a Choice - 1304 Words

The issue of abortion is a controversial one; there are arguments on both sides of the debate. In 1973 the national case of Roe v. Wade, sparked political decisions that created a national right to abortion. Further, Roe v. Wade declared that unborn children are not `persons nor are they entitled to the same constitutional protection as `born children (Baird, Rosenbaum, 2001). However, Roe v. Wade did not end the debate, nor, did it stop both sides for continuing the fight for their individual beliefs. On the one hand, pro-choicers believe that woman are entitled to have abortions. Stating that an unborn child is under the rights of the pregnant women. On the other hand, pro-lifers believe that a woman should not have the right to†¦show more content†¦Going further pro-choice advocates question what will become of these unwanted children, while also noting that these unwanted children will inevitably cause overpopulation, a series of abused unhappy children, and an increase in poverty. Further, pro-choice advocates state, an unborn child is not a full human and is simply a collection of undeveloped tissues. The notion of unborn children being simply a collection of undeveloped tissues is of great importance, as it is the foreground for much of the debate surrounding abortion. Form the pro-choice side one may conclude, An embryo is a potential human being. It can be, granted the womans choice, and develop into an infant. But what it actually is during the first trimester is a mass of relatively undifferentiated cells that exist as a part of a womans body. If we consider what it is rather than what it might become, we must know that the embryo under three months is something far more primitive than a frog or a fish. To compare it to an infant is ludicrous (Peikoff, 2003). Another major point coming for the pro-choice advocates is what would be the solution for women who have been raped, are carrying baby that are the products of incest, or have disabling diseases. Further, if abortion were found to be illegal then women would revert back to illegal abortions preformed by doctors with questionable ethics.Show MoreRelatedShould Abortion Be A Pro Choice?954 Words   |  4 PagesPro-choice believers support the idea that women have the choice to do what they want with their bodies. In the article, â€Å"Yes, I’m Pro-Abortion,† Lauren Rankin asserts that being Pro-Choice means accepting abortion as one of the choices women have the right to make. Rankin says that abortion is not available for all women, especially a woman of color and low-income woman. The author also mentions that it sidelines abortion and delegitimizes the valid choice. I agree that if one chooses to be Pro-ChoiceRead MoreShould Abortions Be Legal?939 Words   |  4 Pag esShould abortions be legal? Abortions have been a big issue since the Roe v Wade case. There have been a lot of disagreements between the Pro-life supporters and the pro-choice supporters. Pro-life supporters feel like abortions deter murder, while pro-choice supporters believe that the women should be able to make their own decisions. I am a part of the pro-life supporters because I feel like abortions are wrong for several of reasons. Why should women get an abortion if there are other choices forRead MoreShould Abortion Be Legal?1052 Words   |  5 PagesAbortion is a personal matter and is a very sacred and sensitive topic. The deliberate termination of a human pregnancy is what we know of as an abortion. Although abortion is considered to be immorally wrong to some people, it should be a fundamental right for women to control their own bodies. Abortions are one of the many things that everyone has an opinion on. It is one of the most controversial topics anyone will not agree upon. When abortion is discussed, people tend to assume one of two positions:Read MoreAbortion Is The Right Choice1319 Words   |  6 Pages ABORTION RHETORICAL ANALYSIS ABSTRACT Abortion is one of the most controversial issue worldwide. According to anti-abortionist people, there are people who tend to make â€Å"bad choices† look good when trying to decide what would be the best decision to an unwanted pregnancy. Both the Pro-Abortion and Pro-Life are being discussed from two different perspectives towards abortion. Anti-Abortionist people disagree with abortion due to their own beliefs. On the other hand, people believe womenRead MorePro Choice Vs. Abortion1426 Words   |  6 Pages Pro-Choice is an opposing position against the pro-life that completely and clearly advocates that every women in the world has equal rights of having abortion and there will no legal or religious restriction against electing an abortion in routine life. Many of social religious, civil and national federations raised a slogan against abortion and in the support of this opposition all of these communities and people also run Pro-life movement, United States. This moveme nt opposes Pro-choice and manyRead MoreAbortion : An Illegal Act Of Killing A Fetus943 Words   |  4 PagesAbortion is one of many key issues that women are faced with in today’s world, to not have a child or conceiving a child through conception. What is abortion these days? To many, abortion is considered an illegal act of killing a fetus, while others believe abortion to be legal by law and punishable for it. It is unclear if the law will make its ruling to put a ban on abortion but it has come with its shared controversy. The first reason why abortion should be legal is the involvement due to churchesRead MoreAbortion Is A Way For Women1726 Words   |  7 PagesKellsey Lodahl Abortion is Ethical Abortion is a way for women, or couples, to make the best decision they can for themselves and the unborn child if they are not ready to bring a child into the world. Allowing termination as a legal and ethical option lets women know they still have a choice when their world is turned upside down. The choice to abort a pregnancy allows women to remain in control of their bodies and makes women one step closer to becoming equal to men. I argue that it is ethicallyRead MoreAbortion : A Woman s Choice1572 Words   |  7 PagesCelina Valvano Mr. Cukierski CPW 4U 12 November 2014 Abortion: A Woman’s Choice Abortion is an ongoing issue that many woman face today in society. Statistics show that one out of ten women aged from fifteen to nineteen gets pregnant each year and five out of six of these pregnancies are unintended (Lunneborg 1992). There is a constant struggle between whether to keep the child or to abort it. Some people believe that abortion is their only choice or their only way out of a difficult and challengingRead MoreThe Issue Of Abortion And Abortion Essay1567 Words   |  7 Pages The issue of abortion is a controversial one; there are arguments on both sides of the debate. In 1973 the national case of Roe v. Wade, sparked political decisions that created a national right to abortion. Further, Roe v. Wade declared that unborn children are not `persons nor are they entitled to the same constitutional protection as `born children (Baird, Rosenbaum, 2001). However, Roe v. Wade did not end the debate, nor, did it stop both sides for continuing the fight for their individualRead MorePro Life And Pro Choice Debates875 Words   |  4 Pagesand Pro-choice debates have become very controversial over the years. The Pro-Life stance fights for equal rights for the fetus, while the Pro-Choice stance fights for equal rights for the women. Currently abortions are legal in the United States up to the second trimester. The purpose of this power point will be to explore the ethical and legal viewpoints of the Pro-Life and Pro-Choice stances. Individuals who are Pro-Choice believe that an abortion is a given right and a given choice, which should

Competitive Strategy Generic Theory

Question: Discuss about the Competitive Strategy Generic Theory. Answer: Introduction The AAA triangle framework is a marketing idea that has been exploited by several companies and industries within the global market. The application of Adaptation, Aggregation and Arbitrage which is also known as the AAA Global framework according to Ghemawat Harvard law professor has been of great help in economic scale improvement in the recent past. The global market has been faced with a lot of challenges which have been eliminated to a certain level through AAA Global framework. Formulation of a competitive strategy depends on the relevant factors within the industry affecting affirm within or external forces. For accompany to manage challenges and strong influence from the competitors, a strategy has to put in place (Motohashi 2015). As a result of a number of forces within and without the firms and industries, many business entities has picked a strong strategy like AAA triangle to defend themselves from the forces. Such industries which developed application of these strategy has since reduced the level of competition pressure in the industry (European international business association, Pla-barber Alegre 2010). The companies using adaptation, aggregation and arbitrage enjoy a lot of benefits. These companies enjoy growth in the amount of money and available market shares. The application of adaptation brings together the components of the firms models in relation to demand and preferences. The achievement of economies of scale depends on the aggregation strategies of a firm. Therefore companies using aggregation benefits due to the efficiencies in the market and standardization of manufacturing process. Application of third A which is arbitrage exploits economy in various markets both national and international. It assists in the location of separate parts in the supply chain management. The scope of this paper investigates the application of adaptation, aggregation and arbitration framework strategy AAA in four companies within two industries. The pap er examines the application of AAA in food and beverage industry and ICT industry (Information Communications Technology industry. The paper examines deep into the two industries selecting two companies. It discusses the competitive strategies being used by each in relation to adaptation, aggregation and arbitrage. Adaptation, Aggregation and Arbitrage Theory Food Beverage Industry (coca cola McDonald Food) This is a strategy which assists in the development of an overall market value through alteration of the already existing market elements to satisfy customer demands. The application of adaptation by accompany helps in meeting consumer preferences globally. The strategy is divided into three sub-strategies: variation strategies which involve mostly the making variations in the production and the services offered by a given company or an industry. The application of this strategy by a given company can be by choice or most of the time it is unavoidable. The strategy is divided into to three parts, the focus type of adaptation where a given company focus on the production specific commodity. Focus can also be applied in terms of geographical based operation where production done by a given industry targets a particular area. The second branch of adaptation strategy is the variation strategies. When accompany operates based on variation strategy they have to make changes in their produc ts as expected by the consumers all over the market. The last branch of adaptation is known as externalization strategy. Externalization involves modification of the company models and strategic alliances. Coca cola Company in the food and beverage industry faced a lot of challenges forcing them to apply the adaptation strategy in the past years (Etienne 2006). The company started as alcoholic drinks producer using cocaine as part of their ingredients. Due to the modification of law in 1886 the company was forced to adapt to the situation and began producing soft drinks. The company faced another challenge in meeting the taste and preference of their customers in 1985 and produced excellent taste. Coca cola products in the United States of America and in Europe has different tastes as a result of different water taste and sugar addition .the Company has used adaptation strategy to deal with situation in the market. Coca Cola Company adopted the franchise design model approach in 1899 leading to improvement in their production scale, communication as well as new equipment. McDonald Food Company is another firm which applies adaptation strategy in management of their challenges. The company started in India in 1996 and since has been stable in the global market.it produced fried bugger using mutton only, chicken bugger, French fry using potatoes along other food staffs. The market was never good since many of the local consumers like cooked food (Olson lo pez 2009). The company faced chargers for the use of meet in bugger sold in America. This forced them to adapt supply of beef bugger in the United States of America after defending themselves in court that products in America is different from India where they only make mutton bugger. Aggregation: This strategy majors in creation of perfect economies of scale to cub the different situations in the market. The strategy is employed in a way that it doesnt compromise the prevailing adaptation but to fit and match with the adaptations. It exploits the global market variation through identification of a standardized regional approach. Coca Cola Company has used the strategy to exploit difference and similarities in their product tastes to maximize on economies of scales. The adoption of the regional approach in dealing with global difference used by coca cola is the most aggregation used in the world today. The company uses aggregation to exploit the similarity of the taste in the other parts of the global market apart from the Europe and United States of America. Aggregation as resulted to the continuous relevancy of coca cola Company in the industry as well in the global market. McDonald Food Company has also maximized on the economies of scale in utilizing the market similaritie s and currently producing best food staffs for their consumers. McDonald faced competition from other companies but reverted to aggregation strategy to cop up with completion and have the food market control. Indian executive utilized the similarity of the Indians basic menu to solve the problem and maximize on the economies of scale. The company develops basic research on the RD trucks the findings and apply them appropriately in relation to the strategies. Current the company is the best in the market through exploitation of economies of scale. Arbitrage Food and beverage industry has also applied the third generic strategy in the exploitation of the available global advantages (Meyer,2016). Arbitrage enable accompany to exploit the difference in the market instead of assessing the gaps and making the relevant bridging. Coca cola the worlds largest beverage manufacturer uses arbitrage approach to exploit the different tastes in the global market. The taste of the company products in Europe is different from that in United States of America. Coca cola has not made efforts to bridge this gap but has been applying arbitrage strategy to maximize on the sales (Hill sims-bell 2010). More tasty products from Coca Cola Company are sold at higher prices. Products with low tastes sells at low prices as per the approach. The company also utilizes an administrative arbitrage approach on profit gained. Similarly, McDonald food firm utilizes the bridge in their bugger to acquire more profit. The more quality bugger are sold at high prices as seen in coca cola industry. Geographic strategy as another approach the two companies above maximize on. Foodstuffs and beverages produced by these two companies reach various markets in the world due in time. From this industry it is evident that all the arbitrage strategies results into maximization of profit rather than bridging differences in the market. Information Technology Apple IBM The theory of adaptation, aggregation and arbitrage has been the reason behind the success of the two ICT companies within the industry for long time. The government provided the industry with an autonomy to defend themselves from stiff competition in the global market. The need for illustration on computer and ICT skill enabled Apple and IBM to stand the best of all time in the market (Motohashi 2015). Several companies in early 1980 entered into the industry which is almost being monopolized by the two companies. During the era of personal computer many invested in the industry due the high demands but never made through to date as a result of their weak strategies. Apple and IBM took advantage of the authority granted by adapting the AAA Global strategy beating down best financed companies and taking over. Apple and IBM makes software equipment, hardware and microchips. They also deal with modern computer equipment in all time share computing facilities and Ethernet connection in offices which earned them a large profit margin. Adaptation Apple as a company in the information and technology applies the use of adaptation. The company use focus adaptation strategy approach in fitting in the market. IBM also has adapted the same model as that of the competitor. The companies major on the satisfaction of local consumers than the global due to profit margin and sales margin (Tihanyi., Pedersen, , Devinney Banalieva 2015). In supply of their products they use segment focus approach. This involves targeting a given group than supplying a lot to the global market with low profit margin. Apple and IBM have accepted the reality and sells more to the local buyers as a result of adaptation geographic scope. Aggregation Apple and IBM in personal and computing industry has been relevant due to economies of scale they apply in various segments. The companies have avoided aggregation in the whole area of information and technology provision in in the whole market (Ghemawat 2000). Most of the companys revenues are acquired through a greater market segmentation inconsideration of the prevailing economies of scale. The products from Apple and IBM are specific to individual customer within the market (Ghemawat 2007). Even though the companies utilize the local market they also sell to external market all around the globe. This is as a result of aggregation strategy which demands more on economies of scale. It is important for a company to enlarge and minimize their scope of operation as it creates efficiency within the business (Day 2004). The creation of new markets increases the range of commodities being offered thus increasing profit margin of a firm sales. Globalization improves economies of scale. Th e global economicvalue is important when supplying produce to global customers via a coordinated chain of supply (Porter 1980). Apple and IBM are able to acquire the market power and capability expand. Arbitrage Apple and IBM companies applies the use of arbitrage to maximize on their sales. In this way the companies are able to exploit variations in the market and in their areas of production. Instead of correcting the differences in their line of production they enjoy the gap and generate income from it (Gunasekaran 2001). These companies utilizes labor difference within to maximize on profit generation. Apple and IBM experiences low sales in the global market due to the prevailing stiff completion from other producers of the same.in contrary for the companies to maximize on ensuring that the gap in the global market is bridged they turn their back and supply more to local market. These companies sell more of their products to the local market than to the outside but ensures maximum profit margin. Conclusion In conclusion, competitive strategy is one of the best strategies that businesses and their operators should opt for. This will rank them averagely well or even at the top in terms of those who are fetching out well in the business domain or the business world (Montgomery 1991). Competitive strategy is simpler to the business people and can be applicable for the purpose of success and healthy competitive competition. Adaptation, aggregation and arbitration applies works together in ensuring growth and expansion of a given firm as discussed above (Porter 1998). The above companies maintain their existence in the world market regardless of several other firms with well and stable financiers but always dormant due to AAA strategy application. References Porter, m. E. (1998). Competitive strategy: techniques for analyzing industries and competitors ; with a new introduction. New york, ny [u.a.], free press. Montgomery, c. A., Porter, m. E. (1991). Strategic choices: seeking and securing competitive advantage. Boston, harvard business school press Gunasekaran, a. (2001). Agile manufacturing: the 21st century competitive strategy. Oxford, elsevier. Http://public.eblib.com/choic /publicfullrecord.aspx?P=318107. Day, g. S. (2004). Wharton on dynamic competitive strategy. New york, ny [u.a.], wiley Porter, m. E. (1980). Competitive strategy techniques for analyzing industries and competitors. New york, ny, free press [u.a.]. Ghemawat, p. (2007). Redefining global strategy: crossing borders in a world where differences still matter. Http://www.books24x7.com/marc.asp?Bookid=23570. Ghemawat, p. (2000). Redefining global strategy: crossing borders in a world where differences still matter. Http://www.books24x7.com/marc.asp?Bookid=23570.Tihanyi, l., pedersen, t., devinney, t. M., banalieva, e. (2015). Emerging economies and multinational enterprises. Http://search.ebscohost.com/login.aspx?Direct=truescope=sitedb=nlebkdb=nlabkan=1021848. European international business association, pla-barber, j., alegre, j. (2010). Reshaping the boundaries of the firm in an era of global interdependence. Bingley [england], emerald. Meyer, k. (2016). International business. [place of publication not identified], cengage learning emea. Motohashi, k. (2015). Global business strategy: multinational corporations venturing into emerging markets. Http://dx.doi.org/10.1007/978-4-431-55468-4. De kluyver, c. A. (2010). Fundamentals of global strategy: a business model approach. [new york, n.y.] (222 east 46th street, new york, ny 10017), business expert press. Http://portal.igpublish.com/iglibrary/search/bepb0000043.html. Olson, j. S., lo pez, c. (2009). Build your beverage empire: develop, market and sell your beverages. [place of publication not identified], cube17, inc.Hill, k., sims-bell, b. (2010). Career opportunities in the food and beverage industry. New york, ferguson. Starbard, n. (2008). Beverage industry microfiltration. Ames, iowa, wiley-blackwell. Http://site.ebrary.com/id/10346225. Etienne, g. (2006). Principles of cleaning and sanitation in the food and beverage industry. New york, iuniverse.

Professional Judgment on the Operation of Financial Accounting

Question: Discuss about theProfessional Judgment on the Operation of Financial Accounting. Answer: Introduction Professional judgment forms the core part of the financial reporting aspect. Professional judgment is more or less a decision making process on complex and difficult issues. Professional judgment can be understood as the essence of accounting. It is an inherent requirement of professional standards. In a detail form it can understood as the application of gathered knowledge and experience which has been gained over a time period through relevant accounting and or auditing training. This can be done by using ethical standards (Ivan, 2016). This helps in making informed decisions about the course of action which is suitable in a certain situation. The report aims to analyze the impact of professional judgment. In addition to this, the role of professional judgment is also assessed in the report in the context of Australia. Impact of Professional Judgment The top level management of the company always tries to represent a favorable image of the company through financial statements while working in compliance with all the accounting standards and principles. The significant aspect in this regard is the engagement of all the experienced and skilled individuals who know to identify the alternative routes for the same. Hence detailed information which might seems to be of no use is also needed as the key to a proper and consistent application of professional judgment (Ivan, 2016). Professional judgment is a concept which is used in many fields and if specialists and experts are applying the concept of this, they cannot explain its importance. The application of incorrect application of professional judgment can lead to serious problems which can have negative consequences; apart from this can also have bad impact on the social and financial aspects of the company (Guidance on Professional Judgment for CPAs, 2015). However the judgment mad e by the accounting professional can be challenged because of the flexible nature of their professional responsibilities. Hence it is important to note that at the time of application of professional judgment, it should be properly documented so that it is much easier to support and defend the conclusions made if any kind of questions regarding the same arises. The concept in this regard is quite simple, the higher the degree of complexity of a certain problem, the higher is the need for documentation. It is quite obvious that when the decision made are not supported by proper document, facts or evidence then the reliability for the same loosen up (Guidance on Professional Judgment for CPAs, 2015). A well documented and well reasoned professional judgment is always respected in case of internal and external reviews because it is aimed at providing adequate reflection of the company through constructive effort. The major issue that has risen in the field of professional judgments is to avoid subjectivism so that transparent and reliable information can be provided by making appropriate use of professional judgment. This discrepancy can be solved through regulation which can improve the fundamental principles of accounting theory (Professional judgment: What it is and how to handle it, 2017). For this it is important for the top level management to have thorough knowledge about the accounting principles and policies that are used by the business organization. A phase of transition is also required in the context of Australia so that the concept of professional judgment can be applied in a proper and effective manner. The concept of professional judgment can be analyzed properly b y studying individual aspect of the notion. The concept of professional judgment represents the process of forming an opinion or evaluation by comparing the data. The aspect of professional judgment is applicable to certain areas, but it is only possible when complete and thorough understanding of the facts and data has been observed and the information required for transaction is also available. The selection of accounting policy and estimation techniques is made with the objective of presenting the information in an appropriate manner so that it can be useful for the users. Australian Accounting Standards Board (AASB) also lays emphasis on the same aspect and suggests that qualitative characteristics of the financial information should be taken into account and also uses professional judgments at the time of preparing financial statements (Dagwell, Wines and Lambert, 2015). The financial statements are required to be presented by the companies who are listed and are working in accordance with the standards and guidelines prescribed by the Australian Accounting Standards Board (AASB). The board has presented a guideline and systematic descrip tion of the applied accounting principles. Apart from this the board has also presented principles for exceptions from the policies. Comparative information is also required if a company make changes in its accounting policies (Wyatt-Smith, Klenowski and Colbert, 2014). The application of professional judgment is suggested by the AASB when determining the depreciation method for the long term assets. The misstated useful life in the asset can lead to serious consequences. It can directly and indirectly impact the net book value of an asset. Apart from this at the time of sale of asset the net realizable value can be much smaller than the net book value which can result into higher losses which is absolutely inconsistent with the economic representation of the asset (Guidance on Professional Judgment for CPAs, 2015). Professional judgment can also be used in the construction contracts which are working in compliance with the AASB. In professional judgment, the completion percentage of the construction is taken into account in order to determine the outcome of a construction contract. The impact of using professional judgment in this case is that the expected benefits can be calculated in the same manner by using the percent of expenses incurred on to tal estimated costs (Wyatt-Smith, Klenowski and Colbert, 2014). It is significant to note that professional standards can never play an effective role without professional judgment. Professional judgment is vital and critical for the effective implementation of professional standards. Without the presence of professional judgments, the professional standards will be executed mechanically with no clear objective and in such as situation decision making can be misleading giving rise to serious consequences (Dagwell, Wines and Lambert, 2015). Professional standards provide a system boundary for professional judgment. It is significant that professional judgment should be exercised within the framework of laws, regulations and professional standards (A Professional Judgment Framework for Financial Reporting, 2012). Professional standards are developed through rigorous procedures and they have written professional wisdom which generally present an effective way to solve dilemmas arise out of judgments. The scope of professional judgment is quite wide as it can be applied to a variety of areas such as in Australia it is relevant in impairment of assets, recognition of revenue, fair value measurement, accounting treatment and disclosures, contingencies and it is also relevant in consolidated financial statements. The identification of an issue and the objective is the starting point of professional judgment. Professional judgment identifies what to judge and the target that is to be achieved. There are various factors which affect the professional judgment. Professional skepticism which is an attitude that involves questioning mind, remaining alert to the conditions that may involve the error due to fraud which can lead to misstatement etc, is the one thing that influences professional judgment (Dagwell, Wines and Lambert, 2015). While exercising professional judgments auditors should act ethically and should not come in undue pressure or conflicts of interest. Prepares should be aware that the required papers and documents are present and retained to record. After the auditor the second line of challenge constitutes of regulators (McDermid, 2015). Professional judgments framework can help the regulators to understand why key judgments has been made and whether they were appropriate or not. T he role of regulator is essential to the success of the principle based standards and the professional judgment standard. In addition to this the role of standard setter is also crucial in this regard; they create standards which allow judgment within the principle based standard. The professional judgment framework is created for guidance and is not intended to provide false information about the company and its economic performance. It can be possible that this standard should be necessarily used in every aspect but it can be used significantly in those areas which can lay material impact on the originations performance. A professional judgment can be undertaken after taking all the required steps for its proper implementation (McDermid, 2015). A professional judgment helps the organsation and top level management to decide their future course of action. Proper information can lead to proper judgment which can enhance the productivity and performance of the organization. Apart from this, the information presented by this way can be used directly by the users or the investors. When adequate amount of information is not gathered and on the basis of the same, professional judgment is applied, than it can be misleading to the users and it can also create audit i ssues for the company. All these can impact the goodwill and reputation of the business organsation in the market (Professional judgment: What it is and how to handle it, 2017). Conclusion Professional judgment is an important aspect and it plays a quite crucial role in increasing the productivity of the organsation. There are various challenges associated with the same such as regulators, auditors etc. that is why it is important to consolidate the information in a documented form which should be supported by facts, evidences. This can help when any question regarding reliability is raised. References Ivan, I. 2016. The importance of professional judgment applied in the context of the International Financial Reporting Standards. Audit Financiar. XIV. No.(142). Pg. 1127-1135. Guidance on Professional Judgment for CPAs. 2015. [Online] Available at: https://www.cicpa.org.cn/introcicpa/laws/201505/W020150513370220774305.pdf [Accessed on: 30 September 2017]. Professional judgment: What it is and how to handle it. 2017. The Journal of the Global Accounting Alliance.[Online] Available at: https://www.gaaaccounting.com/professional-judgment-what-it-is-and-how-to-handle-it/ [Accessed on: 30 September 2017]. A Professional Judgment Framework for Financial Reporting. 2012. [Online] Available at: https://www.ifac.org/system/files/uploads/PAODC/A-Professional-Judgement-Framework-for-Financial-Reporting.pdf [Accessed on: 30 September 2017]. Dagwell, R., Wines, G. And Lambert, C. 2015. Corporate Accounting in Australia. Pearson Higher Education AU. Wyatt-Smith, C., Klenowski, V. and Colbert, P. 2014. Designing Assessment for Quality Learning. Springer Science Business Media. McDermid, D. 2015. Ethics in ICT: An Australian Perspective. Pearson Higher Education AU.