A Critique of an Academic Journal by Luis Garay and Xavier Font

A Critique of an Academic Journal by Luis Garay and Xavier Font Introduction This paper provides a critical analysis of the article: â€Å"Doing good to do well? Corporate social responsibility reasons, practices and impacts in small and medium accommodation enterprises†. The article is authored by Luis Garay and Xavier Font. The author’s arguments are based on a comparison of corporate social responsibility with corporate financial performance.Advertising We will write a custom critical writing sample on A Critique of an Academic Journal by Luis Garay and Xavier Font specifically for you for only $16.05 $11/page Learn More The topic is lengthy and broad. Therefore, the author has not specified the role of small and medium enterprises in sustainable hospitality management. The article begins with a review of corporate responsibility and corporate financial performance. This article further presents the analyses of the relationship between corporate social responsibility and corporate financial performance1. A critical evaluation of the author’s argument(s), assumptions made by the author, and the main implications The main argument of the author is that corporate social responsibility and corporate financial performance affect hospitality management. The greatest challenge to the argument is that misguided assumptions are made, which can be misleading to the reader. The article places corporate social responsibility at a static position instead of appreciating the influential dynamism towards hospitality. The author has discussed the topic by exploring several assumptions about the hospitality environment instead of presenting evidence-based research concerning the topic2. The authors review the literature about corporate financial responsibility and corporate social responsibility. The literature review is analyzed before the authors provide an introduction to the meaning of corporate social responsibility and corporate financial responsibility. There is a need to provide in-d epth analyses of how the two sectors are likely to be affected by a large percentage of recorded accommodation rates3. From the outset, the reader is caught at a crossroad whereby he/she cannot understand the goals of the authors. The goals tend to be hidden from the reader and the reader must search the goals of the article because they are scattered. The authors present an analytical evidence-based analyses but this has been done at a broad scope. Similarly, the authors present the main theories for the tourism sector to engage in corporate social sustainable and corporate financial performance.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The article presents the methodology, and it is evident that qualitative research has been applied. The authors ought to have considered using the qualitative and quantitative methods of research to present reliable results4. The purpose of the article is to show how the constant change and the dynamic nature of corporate social responsibility and corporate financial performance have affected the accommodation and the tourism sector. However, the authors have emphasized on applying the wrong approach in achieving the purpose of the article. The authors have adopted a fixed approach instead of using the principles approach. The validity of the different scenarios that have been applied using the fixed approach cannot be fully relied upon to achieve the end purpose. The fixed approach method is grounded on the gradual approach of responsibility of various institutions. However, this has been done with the outlook on the main role and the influences on the key stakeholders in the industry. The fixed approach has various weaknesses because it does not prioritize the actions and the direct consequences of corporate responsibility and its role in the tourism sector. The data gathered through this approach is tain ted with positive, negative and neutral results5. A critical evaluation of the accuracy and relevance of evidence that is utilized in the article The article relies on secondary evidence. The evidence is gathered through the qualitative research method. The article has supported the topic with academic data but the method used leaves a lot to be desired. The authors should have combined the qualitative and quantitative research methods. It is well known that a well researched article is based on varied information6. Articles aimed at researching the relationship of two strong variables, the evidence in the research should be reliable. The evidence in the article presents good management approach, whereby the authors argue that the corporate social responsibility and corporate financial performance produce reliable results if they are well managed. The article seeks to answer the question why and how the relationship between the corporate sustainable responsibility and corporate fina nce performance affect small and medium accommodation enterprises. The authors should have used the principles approach because it focuses on the impacts of the relationship between the above mentioned factors and how the impacts affect the tourism industry7.Advertising We will write a custom critical writing sample on A Critique of an Academic Journal by Luis Garay and Xavier Font specifically for you for only $16.05 $11/page Learn More The authors have used the stakeholder approach, whereby they presented the impact of the interaction of the tourism industry on the corporate sustainable responsibility and how the relationship stretches from economic level to legal level. The stakeholder interaction and the capabilities presented are innovation and higher integration, which has assisted in transforming the tourism and management industry. The article presents the main objective to show how business engagement assists in achieving competitive advantage. The main weakness of the article is realized by the failure to mention other factors which enhance competitiveness as far as sustainable practices is hospitality and tourism management is concerned. The article fails to bring the desired link between competitive advantages and its application in the tourism business8. The presentation of the evidence to support the authors’ arguments is well cited but limited. The author appreciates the scarcity of the literature that relate to the topic of tourism corporate social responsibility. The literature available, which has been reviewed on the contribution of corporate responsibility in explaining the tourism behavior, takes a broad stand. The narrowing down of the arguments provides doubtful literature, which cannot be relied on. The literature presented provides the reader a chance to doubt because a reliable article is based on stable evidence which can persuade9.On the other hand, the corporate sustainable responsibility literature is limited to the environmental practices which have positive impacts on tourism management10. A critical evaluation of clarity, rigor, and other aspects of the article The article has achieved the underlying principles surrounding clarity. The article is not only unclear but it also carries broad overview of main aspects under investigation. The convincing power of the article is mainly eroded with main assurances on the capacity to cover the topic, and this causes the article to be elusive. The fact that the corporate social responsibility and corporate financial performance are overlapping in the discussion, makes it hard to identify the relationship with small and medium accommodative purposes. The article states the importance of responsibility practices but additional information to show how and why is a major weakness of the article is lacking.11Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The article presents the salient arguments and the assumptions in identifying the importance of corporate social responsibility and corporate finance management in the tourism industry. The implications of the assumptions in the article have been evaluated. The critical evaluation of the evidence used is also considered. The assessment of how clear and convincing the article is has been discussed. The conclusion is to the effect that the main objective of the article is not reached due to the use of broad topic and lack of narrowing down to a specific aspect. Bibliography Garaya, L, Font, X., ‘Doing good to do well? Corporate social responsibility reasons, practices and impacts in small and medium accommodation enterprises’, International Journal of Hospitality Management, vol. 30, 2011, pp.1–9. Holcomb, J, Upchurch, R Okumus, F, ‘Corporate social responsibility: what are top hotel companies reporting?’ International Journal of Contempor ary Hospitality Management, vol. 19, 2007, pp.461–475. Kang, K, Lee, S Huh, C, ‘Impacts of positive and negative corporate social responsibility activities on company performance in the hospitality industry’. International Journal of Hospitality Management, vol. 29, 2010, pp.72–82. Kasim, A, ‘Managerial attitudes towards environmental management among small and medium hotels in Kuala Lumpur’, Journal of Sustainable Tourism vol. 17, 2009, pp.709–725. Kasim, A, ‘Towards a wider adoption of environmental responsibility in the hotel sector’, International Journal of Hospitality Tourism, vol. 8, 2007, pp. 25–49. Footnotes 1  L Garaya X Font, ‘Doing good to do well? Corporate social responsibility reasons, practices and impacts in small and medium accommodation enterprises’, International Journal of Hospitality Management, vol. 30, 2011, pp.1–9. 2 A Kasim, ‘Managerial attitudes towards enviro nmental management among small and medium hotels in Kuala Lumpur’, Journal of Sustainable Tourism, Vol.17, 2009, pp.709–725. 3 JLHolcomb, RS Upchurch, F Okumus, ‘Corporate social responsibility: what are top hotel companies reporting?’, International Journal of Contemporary Hospitality Management, vol.19, 2007, pp.461–475. 4 K Kang, S Lee, C Huh, ‘Impacts of positive and negative corporate social responsibility activities on company performance in the hospitality industry’, International Journal of Hospitality Management, vol. 29, 2010, pp.72–82. 5 A Kasim, ‘Towards a wider adoption of environmental responsibility in the hotel sector’, International Journal of Hospitality Tourism vol. 8, 2007, pp. 25–49. 6 K Kang, S Lee, C Huh, ‘Impacts of positive and negative corporate social responsibility activities on company performance in the hospitality industry†, International Journal of Hospitality Man agement, vol. 29, 2010, pp.72–82. 7 A Kasim, ‘Managerial attitudes towards environmental management among small and medium hotels in Kuala Lumpur’, Journal of Sustainable Tourism, vol. 17, 2009, pp. 709–725. 8 L Garaya, X Font, ‘Doing good to do well? Corporate social responsibility reasons, practices and impacts in small and medium accommodation enterprises’, International Journal of Hospitality Management, vol. 30, 2011, pp.1–9. 9 JL Holcomb, RS Upchurch, F Okumus, ‘Corporate social responsibility: what are top hotel companies reporting?’ International Journal of Contemporary Hospitality Management, Vol. 19, 2007, pp.461–475. 10 Kasim, A., â€Å"Towards a wider adoption of environmental responsibility in the hotel sector†, International Journal of Hospitality Tourism 8, 2007, 25–49. 11 K Kang, S Lee, C Huh, ‘Impacts of positive and negative corporate social responsibility activities on compa ny performance in the hospitality industry’, International Journal of Hospitality Management, vol. 29, 2010, pp.72–82.

What is The IFRS

What is The IFRS Free Online Research Papers International Financial Reporting Standard (IFRS) are the standards which are principal based in nature. These are the standards, framework and the interpretation promulgated by International Accounting Standards Board (IASB), an international standard setting-body based in London. IFRS has a specific structure as it establishes rules and also gives guidelines on the various procedures to be followed for treatment. Started by IASC (International Accounting Standards Committee) for formulating the standards, IASC decided to dissolve itself in 2001 and form a professional board IASB. IASC trustees appoint members for IASB, IFRIC (International Financial Reporting Interpretations Committee) and SAC (Standards Advisory Council). IASB emphasizes on developing standards based on sound and clearly stated principles which requires interpretation. During the existence of IASC, it formulated 41 standards which are known as International Accounting Standards (IAS) and the Framework for the Preparation and Presentation of Financial Statements ( Barry J. Epstein Eva K.Jermakowicz). Some of the standards formulated by IASC have been withdrawn since then like IAS 30, Disclosures in the Financial Statements of Banks and Similar Financial Institutions or superseded like IAS 22, Business Combinations was superseded by IFRS 3, Business Combinations. IASB framework for the Preparation and Presentation of Financial Statements defines the concepts which form the basis of preparation and presentation of financial statements. It includes the objectives, assumptions, characteristics, definitions and criteria that administer financial reporting and the framework is also known as conceptual framework due to these features. The frameworks defines the objective of the financial statement, underlying assumptions, qualitative characteristics that specifies the usefulness of information in financial statements and the definition, identification and measurement of elements used to construct the financial statement. The framework is not a standard and also, it does not have to be implemented like a standard. The sole purpose of framework is to assist and guide IASB while developing new or revising the existing standards, to assist in setting of standards at national level consistent with international principles and to assist during the prepar ation of financial statement in judging the circumstances which are addressed by any standard. The framework inherited by IASB from IASC states that the objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions. Accounting policies are promulgated by IASB by the framework and the standards of IFRS. The framework states that the users of financial statement have to evaluate the ability of the entity to not only generate the income but also the timing and assurance of doing so. The framework also specifies that financial statement should be true and fair. Two differences and similarities between IFRS and GAAP Similarities IFRS and GAAP both have the same approach for treatment of foreign currency translation. The criteria to determine the functional currency of an entity are defined separately in both GAAP and IFRS; however they lead to same determination which is the primary currency of entity. The transaction of foreign currency has to be re-measured in the entity’s operational currency and the amount from translation in currency is booked under income. Also, both IFRS and GAAP state that the operational currency has to be re-measured in operational currency before translation in reporting currency. IFRS and GAAP define that Earnings per Share should be disclosed by the entities which issue shares in market or are in the process of share trading. They require that the diluted and basic EPS should be presented on the face of income statement. Treasury stock method is required for determining the impact of stock options on diluted EPS calculation. Differences In GAAP, the lease for land or building which involves transferring of ownership to lessee or involves the bargain purchase option is classified as capital lease by lessee. In IFRS, land and building are considered as separate while evaluating the indicators. In GAAP if the fair value of land at starting in more than 25% of fair value of lease then the land and building component are considered separately for evaluation purpose whereas in IFRS, there is no condition of 25% and the land and building has to be considered separately only for evaluation In GAAP, equity method investments are accounted at fair value and in case of entity not willing to go for fair value accounting, equity method of accounting can be used as an option whereas in IFRS investors have to use equity method of accounting for their investments. Mutual funds, venture capital entities and unit trusts are excluded from this standard. IFRS also requires the uniformity of accounting policy between the investor and investee while GAAP does not have such requirement, the accounting policy of investor and investee can be different. Work Cited Barry J. Epstein Eva K.Jermakowicz. Interpretation and Application of International Financial Reporting Standards. Wiley, 2010. 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The Impact of Information Technology on the Society Research Paper

The Impact of Information Technology on the Society - Research Paper Example Information technology was not as advanced as it is today and communication was also expensive and efficient. A few decades ago a huge revolution in communication and computing occurred which were the markers of information technology advancement. In the last few decades, swift progress in the field of technology mostly in huge internet spread made the technology even more intensive among people. These developments have changed the way many businesses operate such as education, medicine, and commerce. When the human race began to communicate with others, they were proficient in using language and also other important and simpler techniques as in drawings. The era of this sort of technique was known as pre-mechanical and no intricate communication devices were in use. As the time passed, human beings indulged in using papers, and alphabets which improve the communication devices. With the passage of time, this technique changed to the overall development of libraries and books for sto ring information. In the later years, many number systems came into being by making communication easier. The mechanization of technologies of communication made use of analog computers development as in Blaise Pascal, which Pascaline invented. In the electromechanical period, telecommunication was developed. This period was not without its innovation of telephone, radio, and telegraph. The period was taken over by the huge production of personal computers that could easily be used at offices and at homes.  ... Contemporary world followed this period which was mainly dominated by digitized computers. The modern developments involve central processing invention units with memory and logic. The personal computers came as benevolence to people (Library and Information Technology Association, 1982).   Literature review In 2012, Nasir, Sultan, and Khattak also argued that these developments in the field of information technology have paved the way for human communication expansion. This has transformed the cultures and traditions of various groups of society. Furthermore, human beings have been united by this information technology and world is now a global village. The evolution of these technologies and also rapid development of higher developed ones have been made possible. Media industry has also seen a drastic development due to this information technology. In 2012, Heinz and Hirschheim said that many fields of sciences are now enhanced due to information technology. These developments en riched the many experiences of human nature such as human interactions and business. In 2004, Onwuegbuzie and Qun said that information technology has revolutionized the system of education. These technologies were applied in many areas of education such as libraries and have made the procedures of education much easier. Furthermore, the instructors can give instruction in many areas without having to fear meeting students. Additionally, the internet and devices availability as in personal computers are a blessing for virtual students; in fact they give birth to virtual studies. Another field where information technology has its affects is the area of management sciences. The organizational