About Australia Essay -- Australia Economy Population Culture Trade Es

About Australia Australia, island continent located southeast of Asia and forming, with the nearby island of Tasmania, the commenwealth of Australia, a self governing member of the Commenwealth of Nations. The commenwealth of Australia is made up of six states--News south Wales, Queensland, South Australia, Tasmania, Victoria, and Wester n Australia--and two territories--the Australian Capital Territory and the Northern Territory. Australia, including Tasmania but excluding external territories, covers a land area of 7,682,300 sq. km, extending from Cape York (100 41' S) in the north some 3,680 km to Tasmania (430 39' S), and from Cape Byron (1530 39' E) in the east some 4,000 km west to Western Australia (1130 9' E). Basic Data Population (estimates), July 1995, 18,322,231, with the age structure under 15 (female 1,929,366; male 2,032,238), 15-64 (female 6,017,362; male 6,181,887), 65 and over(female 1,227,004; male 934,374). Population growth rate is estimated at 1.31% (1995 est.). Literacy rate age 15 and over can read and write (1980 est.). English is the official language, with modern Australian English a conglomerate of British, American, and their own phraseology and spelling. Because Australia is one of the most multicultural nations in the world it is possible to find vibrant ethnic communities using almost every other world language.Australian school children have the highest rate of learning Asian languages, particularly Japanese and Chinese, of any industrialized western nation - in recognition of their future as a member of the Asia-Pacific region. Labor force is 8.63 million(september 1991) by occupation of finance and service 33.8%, public and community services 22.3%, wholesale and reatail trade 20.1%, manufacturing and industry 16.2%, agriculture 6.1%(1987). Political System Australia has a federal system of government, and a long history as a multiparty parliamentary democracy. There is no written Bill of Rights, but fundamental rights are ensured by law and respected in practice. The Commonwealth (federal) government and the six state governments operate under written constitutions that draw on the British tradition of a Cabinet Government, led by a Prime Minister, which is responsible to a majority in Parliament's lower house. The Federal Constitution, however, also contains some element... ...ing almost a quarter of total merchandise exports; Exports to the Asian region overall grew by almost seven per cent to $A41 billion; Elaborately Transformed Manufactures (ETMs) exports grew 14 per cent to almost $A14 billion - they now account for 20 per cent of all merchandise exports; Despite a five per cent fall in export earnings, coal remained Australia's largest commodity export; Exports of computers and office machinery, parts and accessories increased in aggregate by 30 per cent to almost $A1 billion - assembled computer exports grew by over 60 per cent during the year; The value of wool exports held steady during 1993-94 - a five per cent increase in volume was offset by lower average prices (although prices recovered during the second half of the year); There were significant falls in exports of both crude and refined petroleum oil; The growth in wine exports typifies the increasing diversity of Australia's export base - they have increased over the last decade at an annual trend rate of over 40 per cent; The latest Australian Bureau of Statistics (ABS) Manufacturing Survey revealed that exporting manufacturers were performing significantly better

International Financial Reporting Standards and Revenue Recognition

Revenue recognition is a very important component of financial accounting and reporting. The accounting principles governing revenue recognition can have a big impact on corporate accounting and the way contracts are structured with customers. As a part of ongoing discussions to converge U. S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), some proposals to change revenue recognition have been discussed. The following will discuss revenue recognition as it stands under U. S. GAAP and IFRS, as well as proposed changes to the revenue recognition principle. Revenue Recognition under U. S. GAAP Staff Accounting Bulletin, Topic 13 states, â€Å"The staff believes that revenue generally is realized or realizable and earned when all of the following criteria are met: 1. Persuasive evidence of an arrangement exists; 2. Deliver has occurred or services have been rendered; 3. the seller’s price to the buyer is fixed or determinable; and 4. Collectability is reasonably assured. † Revenue recognition under U. S. GAAP can vary depending on industry, but the criteria listed by Topic 13 are generally applied when recognizing revenue. Guidance for industry specific principles are covered under other U. S. GAAP pronouncements. Also under U. S. GAAP, â€Å"any costs or losses that may be expected in connection with any returns shall be accrued in accordance with FASB St. No. 5 Accounting for Contingencies. Sales revenue and costs of sales reported in the income statement shall be reduced to reflect estimated returns† (FAS 48 par. 7). Revenue Recognition under IFRS. Under IFRS, guidance regarding revenue recognition are governed under two general accounting standards. According to IFRS, â€Å"revenue is recognized when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably† (IAS 18). Revenue Recognition for specific industries are not addressed under IFRS and these two general accounting standards are applied broadly across various industries. Revenue recognition has been at the forefront of suggested changes regarding convergence to a single set of standards for financial reporting and accounting. Currently under U. S. GAAP, revenue recognition have more stringent criteria and governance can also be industry specific. IFRS differs in that there are only two broadly applied accounting standards when determining when to recognize revenue. The AICPA has announced that the IASB and FASB will move towards issuing a single standard governing revenue recognition. The proposed standard will adopt standards similar to IFRS revenue recognition principles and eliminate U. S. GAAP’s industry specific guidance. The changes will have a tremendous effect on accounting and how businesses operate.

Essay about MARRIAGE - 1258 Words

Marriage is the socially recognized union of two or more people. Selecting a marriage partner is very much a culturally defined process. The rules governing selection vary widely from society to society and are more often complex. How would you go about selecting a mate? Where would you begin? What criteria would you use? When we look around the world to see how other societies deal with these questions, it is clear that the ways of selecting a mate or a marriage partner has been changed from generation to generation. In the generation where my grandparents came from, marriages were purely arranged by the elderly. Mothers or aunts usually selected a marriage partner for their sons. My grandparents got married when both of them were very†¦show more content†¦Where they sit and talk in a romantic environment. Their real romance and true love started after the marriage. In the generation, where my parents came from, marriages were no longer remaining purely arranged. However, my parents got an arranged marriage. Both of my parents’ families were settled in the city of Karachi. There, my dad’s father started a business. One day my mom’s father went out at his business place. He met with my father there. My mother’s father liked him and invited his family at home. In this way both families got a good family relationship. My dad’s parents saw my mom at her home. She was 19 and very beautiful. She was in 11th grade. My father was 26 years old at that time. My father saw my mom and liked her. But my mom could not see her at that moment. My grandmother showed her my father’s picture and asked her if she is interested in getting married with him. My mom said to do what they like to do. So, both of their parents fixed the date for their engagement. My grandmother told me that 4 months later after the engagement, the re was an engagement of my mom’s brother. The party was going on at my mom’s house. My father was also invited and asked my mom to sit in the car. However, my mom was very shy and did not answer him. Then her mother asked her to go out with him for sometime. They went out for half hour. They had some ice cream and my father talked to her in the car. My mom was wearing dark blueShow MoreRelatedMarriage Between Marriage And Marriage1441 Words   |  6 PagesMarriage is universal, in the sense that no matter where you go in the world there is marriage. The meaning of marriage might be different but it still exists everywhere. Marriage would be so much healthier and happier with a marriage contract signed and agreed between both parties. Many people commonly have a misconception of what a marriage contract really is. This type of contract involves a written document between two people, their respective rights and obligations in regards to the marriageRead MoreThe Marriage Of Marriage And Marriage1599 Words   |  7 Pagesvaccinations, abortion and marriages. 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