Financial Accounting Standards Board Framework Analysis

Financial Accounting Standards Board Framework Analysis Introduction The accounting conceptual framework has been criticized for not providing an adequate basis for standard setting. This inadequacy is evidenced through the FASBs standards becoming more and more rule-based. Nevertheless, no empirical evidence has been gathered to support the criticisms of the conceptual framework. We analyzed the five qualitative characteristics of accounting information from the conceptual framework in conjunction with an individuals intention to use/rely on financial statements. Using structural equation modeling, we found that only one qualitative characteristic, reliability, affected a persons intention to use financial statements. Additionally, it appears that the greatest factor that influences whether an individual rely on financial statements is their familiarity with accounting. Based on our findings, it appears that not only does the conceptual framework need to be altered, but it also needs to be changed to help create principle-based accounting standards t hat are useful to all people, regardless of their background. The Financial Accounting Standards Board (FASB) has been criticized for not requiring firms to report information that is interpretable and useful for financial statements users (CICA, 1980). The FASBs conceptual framework is the core in which all accounting standards are derived. Therefore, the accounting conceptual framework must embody a set of qualitative characteristics that ensure financial reporting provides users of financial statements with adequate information for decision making. The U.S. financial accounting conceptual framework was established between late 1970s and early 1980s. Statement of Financial Accounting Concepts (SFAC) No. 2 (1980) indicates that there are five main qualitative characteristics of accounting information; understandability, relevance, reliability, comparability, and consistency. Nature and Purpose of the Conceptual Framework The conceptual framework was formed with the intention of providing the backbone for principle-based accounting standards (Nobes, 2005). However, the Securities and Exchange Commission (SEC) has recently criticized the accounting standards setting board for becoming overly rules-based, which paves the way for the structuring of transactions in the companys favor (SEC 108(d)). Critics of the framework have stressed that the move towards rule-based standards are a consequence of inadequacies in the accounting conceptual foundation. Nobes (2005) argues that the need for rule-based accounting standards is a direct result of the FASB trying to force a fit between standards and a conceptual framework that is not fully developed. A coherent and strong conceptual framework is vital for the development of principle-based accounting standards and the progression towards convergence in international accounting standards. However, researchers are unaware of any empirical evidence that supports the criticisms of the current conceptual framework. Additionally, none of the critics have looked at the conceptual framework from the most important viewpoint, the users perspective. Therefore, the purpose of this paper is to empirically analyze the adequacy of the conceptual framework, from a users perspective, in relation to an individuals reliance on financial statements for decision making. We developed a survey instrument to analyze an individuals intention to rely on financial statements using Ajzens (1991) Theory of Planned Behavior. We found that the reliability characteristic of the conceptual framework represented the only significant dimension of a persons attitude affecting their intention to rely on financial statements. However, the understandability characteristic was approaching significance. Within the context of the theory of planned behavior, social pressures was not significant influence on the intention to use/rely on financial statements, yet familiarity with accounting was found to significantly influence intention. The conceptual framework and potential financial statement users intentions can be analyzed within the context of Ajzens (1991) Theory of Planned Behavior. Ajzen (1991) indicates that empirical evidence suggests that we can determine an individuals intention to perform a behavior through analyzing their attitude, subjective norms, and perceived behavioral control. Within this perspective, we adapted Ajzens (1991) theory of planned behavior to an individuals propensity to rely on accounting financial statements. The purpose of this study was to provide an empirical analysis to the criticism against the FASBs conceptual framework. Our overall results suggest that the current conceptual framework does not adequately align the objectives of financing reporting with the users of financial statements. Nevertheless, available findings have some interesting implications for the conceptual framework and future standard setting. Reliability is the only qualitative characteristic that has a positive statistical significant relationship with intention. The accounting profession is facing a choice between reliability and relevance in financial reporting, as there is an inherent trade-off between reliability and relevance (Paton and Littleton, 1940; Vatter, 1947). Reliable information possesses the characteristic of objectivity and verifiability, which is associated with historical cost accounting. Relevance, on the other hand, pertains to any information that will influence the users financial decision. Many times the most relevant information is often current or prospective in nature. Thus, we cannot have accounting information that maximizes the characteristics of both relevant and reliable because relevant information is not always verifiable. We would have expected to see relevance as a significant factor in users intention to use financial statements since the recent accounting standards have moved toward fair value accounting measures, which are considered to be more relevant than reliable information (Ciesielski Weirich, 2006). However, our results show that reliability is a significant factor. The current accounting curriculum could be the cause of our results since it is rooted in Paton and Littletons historical cost approach, which focuses on reliability of information. In the context of the Theory of Planned Behavior, we found that familiarity to be a statistically significant factor to an individuals intention to use financial statements. Thus, as an individual becomes more familiar with financial statements, he or she is more likely to have the intention to use or rely on them when making decision. An ANOVA analysis provides further support for this as it indicates that intention to use or rely on financial statements is significantly different between accounting majors and non-accounting majors. This provides evidence that accounting could be becoming too difficult for individuals who are not proficient in accounting to understand. It appears that the movement towards rule-based accounting standards could be a contributing cause of this disparity in intention. That is, the accounting standards have become so technical upon their execution that the average reader of accounting can no longer discern the main objective of each financial statement element. This finding is troubling to accounting since it contradicts the primary objective of accounting, which is to provide useful accounting information for decision making. Accounting information should be useful for all people who want to use it rather than only being useful to those who understand it. Additionally, under no circumstances, should accounting information provide an advantage to individuals who happen to be experts within the field. Accounting should be a tool and not a barrier At the-present, the accounting profession is grappling with a problem, which it has identified as the need for a conceptual framework of accounting. This framework has been painstakingly developed over centuries, and it is merely the professions task to fine tune the existing conceptual framework because of the need for continual development due to changing conditions. This conceptual framework has never been laid out in explicit terms; consequently, it is continually overlooked. A conceptual framework has been described as a constitution, a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature, function, and limits of financial accounting and financial statements. For many accountants, the conceptual framework project is difficult to come to grips with because the subject matter is abstract and accountants are accustomed to dealing with specific problems. In resolving those problems, accountants may unconsciously rely on their own conceptual frameworks, but CPAs have not previously been called on to spell out their frameworks in systematic, cohesive fashion so that others can understand and evaluate them. It is essential that a framework be expressly established so that the FASB and those evaluating its standards are basing their judgments on the same set of objectives and concepts. An expressly established framework is also essential for preparers and auditors to make decisions about accounting issues that are not specifically covered by FASB standards or other authoritative literature. It is considered that if the conceptual framework makes sense and leads to relevant information, and if financial statement users make the necessary effort to fully understand it, their confidence in financial statements and their ability to use them effectively will also be enhanced. No one who supports the establishment of a conceptual framework should be laboring under the illusion that such a framework will automatically lead to a single definitive answer to every specific financial accounting problem. A conceptual framework can only provide guidance in identifying the relevant factors to be considered by standard setters and managers and auditors in making the judgments that are inevitable in financial reporting decisions. A Classical Model of Accounting: The Framework Expanded Historically, the particularized information, which constituted the emergence of accounting, was embedded in a framework for control of human behavior. With the advent of exchange replacing a sustenance society, and with exchange ultimately producing a private economy, accounting derived its second, and in modern times considered its most important, function as a planning instrument. The classical model simply states that behavioral patterns do exist in the structural development of accounting; that is, given a stimulus there will be a response which is direct reaction (an expected reaction) to that stimulus. One can relate this model to the classical model in economics, in which supply and demand for a commodity react in an expected manner due to a change in price. Figure 3 is a geometric illustration of the classical model. The special features of the model are: (a) Stimulus (S) = Demand; Response (R) = Supply (b) Equilibrium (E) = Stimulus = Response (c) Environmental Condition (EC) = Price (d) Accounting Concept (AC) = Product A Test of the Validity of the Model If the classical model does exist in accounting, the historical observations (see table I) should then bear testimony to its existence. The evidence to support this model is purely historical. However, no parallel should be drawn between this thesis (stimulus/Response) and Toynbees (1946, 88) line of inquiry: Can we say that the stimulus towards civilization grows positively stronger in proportion as the environment grows more difficult? Consequently, the criticism directed at his work should not be considered even remotely as applicable to this inquiry (Walsh 1951, 164-169).On the other hand, only in the extreme can the accusation leveled at Kuhn [1962] be directed here, that the conceptual framework (classical model of accounting) as presented may subsume too many possibilities under a single formula (Buchner 1966, 137). More appropriately, this study is undertaken along the lines suggested by Einthoven (1973, 21): Accounting has passed through many stages: These phases have been l argely the responses to economic and social environments. Accounting has adapted itself in the past fairly well to the changing demands of society. Therefore, the history of commerce, industry and government is reflected to a large extent in the history of accounting. What is of paramount importance is to realize that accounting, if it is to play a useful and effective role in society, must not pursue independent goals. It must continue to serve the objectives of its economic environment. The historical record in this connection is very encouraging. Although accounting generally has responded to the needs of its surroundings, at times it has appeared to be out of touch with them. The purpose of this line of inquiry is to put into perspective concepts which have emerged out of certain historical events. (In this treatise, accounting concepts are considered to be interlocking with accounting measurement and communication processes; thus, whenever the term concept is used herein, it is to be understood that accounting measurement and communication processes are subsumed under this heading.) These concepts collectively constitute, or at least suggest, a conceptual framework of accounting. The classical model is postulated as follows: For any given environmental state, there is a given response function which maximizes the prevailing socio-economic objective function. This response function cannot precede the environmental stimulus but is predicated upon it; when such response function is suboptimal, the then existing objective function will not be maximized. In a dysfunctional state, a state in which environmental stimulus is at a low level a level below pre-existing environmental stimuli, disequilibrium would ensue. In any given environment, the warranted response may be greater or less than the natural or actual response. When environmental stimuli cease to evoke response, then the socio-economic climate will be characterized by stagnation as the least negative impact of disequilibrium conditions, and decline when such environmental stimuli are countercyclical. Stage 1 In this period, (1901 to 1920) the environmental stimulus was corporate policy of retaining a high proportion of earnings [(Grant 1967, 196-197); (Kuznets 1951, 31); (Mills 1935, 361,386-187)]. This period is the beginning of corporate capitalism. The term corporate capitalism is used because it emphasizes the role in capital formation which corporations have ascribed to themselves. Hoarding of funds by corporations has reduced the role and importance of the primary equity securities market. The resource allocation process has been usurped by corporations (Donaldson 1961, 51-52, 56-63). The implication of such a condition is accentuated in the following statement: It is the capital markets rather than intermediate or consumer markets that have been absorbed into the infrastructure of the new type of corporation. (Rumelt 1974,153). The hard empirical evidence of this condition was revealed by several tests of the Linter Dividend Model, which maintains that dividends are a function of profit, and are adjusted to accommodate investment requirements [(Kuh 1962,48); (Meyer and Kuh 1959,191); (Brittain 1966,195); (Dhrymes and Kurz 1967, 447)]. Given the new role assumed by the corporation in capital formation, the investment community (investing public) became concerned with the accounting measurement process.The accounting response was verifiability (auditing) to demonstrate the soundness of the discipline. Productivity of existing measurements had to be verified to satisfy the investors and creditors. The Companies Act 1907 required the filing of an audited annual balance sheet with the Registrar of Companies [(Freer 1977, 18); (Edey and Panitpadki 1956, 373); (Chatfield 1956, 118)]. Thus, auditing became firmly established. The function of auditing measurements is the process of replication of prior accounting. Accounting is differentiated from other scientific disciplines in this aspect of replication. Replication is a necessary condition in sound disciplines; however, replication is generally undertaken in rare instances. In accounting, on the other hand, replication is undertaken very frequently for specified experiments business operations at the completion of the experiments business (operating) cycle. These experiments business operations, cover one year; at the end of the year, the experiments are reconstructed on a sampling basis. Auditing is the process by which replication of accounting measurements are undertaken. Publicly held and some privately held corporations are required to furnish audited annual financial statements which cover their business activities on an annual basis. Stage 2- This period, (1921 to 1970) witnessed the reinforcement of corporate retention policy. This condition shifted the emphasis of the investor to focus on the Securities market in the hope of capital gains, because of the limited return on investment in the form of dividends. Indubitably, investors concern was shifted to market appreciation through stock price changes reflecting the earnings potential of the underlying securities (Brown 1971, 36-37, 40-41, and 44-51). With the securities market valuation of a companys share (equity) inextricably linked to the earnings per share, the emphasis is placed on the dynamics of accounting as reflected in the income statement. The Companies Act of 1928 and 1929 explicitly reflect this accounting response by requiring an income statement as a fundamental part of a set of financial statements [(Freer 1977, 18); (Chatfield 1974, 118)]; Although an audit of such statement was not explicitly stipulated, it was implied. The accounting response of this period is extension of accounting disclosure [(Chatfield 1974, 118); (Blough 1974, 4-17)]. The Wall Street Crash of 1929 and subsequent market failures constitutes the environmental stimulus. In the U.S.A., the Securities Act of 1933 and then the Securities and Exchange Act of 1934 were enacted, providing for a significant involvement of the government in accounting. Stage 3- This period is characterized by the social awareness that business as well as government must be held socially accountable for their actions. Business can transfer certain costs to other segments of society, thus business benefits at the expense of society; and government can not only squander hard earned dollars but through its policies affect adversely the welfare of various segments of society. This awareness is epitomized in the thesis posited by Mobley [1970, 763]: The technology of an economic system imposes a structure on its society which not only determines its economic activities but also influences its social well-being. Therefore, a measure limited to economic consequences is inadequate as an appraisal of the cause-effect relationships of the total system; it neglects the social effects. The environmental stimulus of corporate social responsibility evoked the accounting response of socio-economic accounting a further extension of accounting disclosure. The term socio-economic accounting gained prominence in 1970, when Mobley broadly defined it as the ordering, measuring and analysis of the social and economic consequences of governmental and entrepreneurial behavior. Accounting disclosure was to be expanded beyond its existing boundaries beyond the normal economic consequences to include social consequences as well as economic effects which are not presently considered (Mob1ey 1970, 762). Approaches to dealing with the problems of the extension of the systemic information are being attempted. It has been demonstrated that the accounting framework is capable of generating the extended disclosures on management for public scrutiny and evaluations [(Charnels, Co1antoni, Cooper, and Kortanek 1972); (Aiken, Blackett, Isaacs 1975)]. However, many measurement problems have been exposed in this search process for means to satisfy the systemic information requirement of this new environmental stimulus [(Estes 1972, 284); (Francis 1973)]. Welfare economics, as a discipline, has always been concerned with the social consequences of governmental and entrepreneurial actions, but the measurement and communication problems are, and always have been that of the discipline of accounting (Linowes 1968; 1973). The Conceptual Framework: A Continuing Process Presented above, the stimulus/response framework exhibiting structural adequacy, internal consistency and implemental practicality has demonstrated, unequivocally, its effectiveness over the centuries. The systemic information of financial accounting is the connective tissue of time in a financial perspective. The systemic information of managerial accounting is non-connective, but rather reflects events in a decision-making perspective. This can be best illustrated in the table below: (Draw a table) The process of concept-formation is a special type of learning. The formation takes time and requires a variety of stimuli and reinforcements. The process is never fully determinate for even when the concept is well, it can suffer neglect or inhibition and it can be revived by further reinforcement or modified by new stimulation (Emphasis added.) (Meredith; 1966, 79-80). A body of concepts and interlocking measurement and communication processes (types of information stocks and flows; constraints on information allowable values and methods of measurement; media of communication quantitative and qualitative) has been developed over the centuries. This set of concepts and interlocking measurement and communication processes has emerged as responses to specific stimuli at specific points in time to satisfy specific information needs. It is this body of concepts and interlocking measurement and communication processes, which is subject to amplification and modification that constitutes the conceptual framework of accounting. Possibly, with other modifications or amplifications deemed necessary, the conceptual framework as presented above can serve as an expressly established framework to enable preparers and auditors to make decisions, which would conform and be upheld, about accounting issues that are not specifically covered by FASB standards or authoritative literature. A conceptual framework is necessary because in the first place, to be useful, standard setting should build on and relate to an established body of concepts and objectives. A soundly developed conceptual framework should enable the FASB to issue more useful and consistent standards over time. A coherent set of standards and rules should be the result, because they would be built upon the same foundation. The framework should increase financial statement users understanding of and confidence in financial reporting, and it should enhance comparability among companies financial statements. Secondly, new and emerging practical problems should be more quickly solved by reference to an existing framework of basic theory. It is difficult, if not impossible, for the FASB to prescribe the proper accounting treatment quickly for situations like this. Practicing accountants, however, must resolve such problems on a day-to-day basis. Through the exercise of good judgment and with the help of a universally accepted conceptual framework, practitioners can dismiss certain alternatives quickly and then focus on an acceptable treatment. Over the years numerous organizations, committees, and interested individuals developed and published their own conceptual frameworks. But no single framework was universally accepted and relied on in practice. Recognizing the need for a generally accepted framework, the FASB in 1976 began work to develop a conceptual framework that would be a basis for setting accounting standards and for resolving financial reporting controversies. The FASB has issued six Statements of Financial Accounting Concepts that relate to financial reporting for business enterprises. They are: _ SFAC No. 1, Objectives of Financial Reporting by Business Enterprises, presents  goals and purposes of accounting. _ SFAC No. 2, Qualitative Characteristics of Accounting Information, examines the  characteristics that make accounting information useful. _ SFAC No. 3, Elements of Financial Statements of Business Enterprises, provides  definitions of items in financial statements, such as assets, liabilities, revenues, and  Expenses _ SFAC No. 5, Recognition and Measurement in Financial Statements of Business  Enterprises, sets forth fundamental recognition and measurement criteria and  Guidance on what information should be formally incorporated into financial statements  and when. _ SFAC No. 6, Elements of Financial Statements, replaces SFAC No. 3 and expands  its scope to include not-for-profit organizations. _ SFAC No. 7, Using Cash Flow Information and Present Value in Accounting Measurements, provides a framework for using expected future cash flows and present values as a basis for measurement. At the first level, the objectives identify the goals and purposes of accounting. Ideally, accounting standards developed according to a conceptual framework will result in accounting reports that are more useful. At the second level are the qualitative characteristics that make accounting information useful and the elements of financial statements (assets, liabilities, and so on). At the third level are the measurement and recognition concepts used in establishing and applying accounting standards. These concepts include assumptions, principles, and constraints that describe the present reporting environment. First Level: Basic Objectives As we discussed in Chapter 1, the objectives of financial reporting are to provide information that is: (1). Useful to those making investment and credit decisions who have a reasonable understanding of business and economic activities. (2). Helpful to present and potential investors, creditors, and other users in assessing the amounts, timing, and uncertainty of future cash flows and (3). about economic resources, the claims to those resources, and the changes in them. The objectives therefore, begin with a broad concern about information that is useful to investor and creditor decisions. That concern narrows to the investors and creditors interest in the prospect of receiving cash from their investments or loans to business enterprises. Finally, the objectives focus on the financial statements that provide information useful in the assessment of prospective cash flows to the business enterprise. This approach is referred to as decision usefulness. It has been said that the golden r ule is the central message in many religions and the rest is elaboration. Similarly, decision usefulness is the message of the conceptual framework and the rest is elaboration. In providing information to users of financial statements, general-purpose financial statements are prepared. These statements provide the most useful information possible at minimal cost to various user groups. Underlying these objectives is the notion that users need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements. This point is important. It means that in the preparation of financial statements, a level of reasonable competence on the part of users can be assumed. This has an impact on the way and the extent to which information is reported. Second Level: Fundamental Concepts The objectives of the first level are concerned with the goals and purposes of accounting. Later, we will discuss the ways these goals and purposes are implemented in the third level. Between these two levels it is necessary to provide certain conceptual building blocks that explain the qualitative characteristics of accounting information and define the elements of financial statements. These conceptual building blocks form a bridge between the why of accounting (the objectives) and the how of accounting (recognition and measurement). Qualitative Characteristics of Accounting Information Choosing an acceptable accounting method, the amount and types of information to be disclosed, and the format in which information should be presented involves determining which alternative provides the most useful information for decision making purposes (decision usefulness). The FASB has identified the qualitative characteristics of accounting information that distinguish better (more useful) information from inferior (less useful) information for decision making purposes. In addition, the FASB has identified certain constraints (cost-benefit and materiality) as part of the conceptual framework. These are discussed later in the chapter. The characteristics may be viewed as a hierarchy. Decision Makers (Users) and Understandability Decision makers vary widely in the types of decisions they make, how they make decisions, the information they already possess or can obtain from other sources, and their ability to process the information. For information to be useful there must be a connection (linkage) between these users and the decisions they make. This link, understandability, is the quality of information that permits reasonably informed users to perceive its significance. To illustrate the importance of this linkage; assume that IBM Corp. issues a three-month earnings report (interim report) that shows interim earnings way down. This report provides relevant and reliable information for decision making purposes. Some users, upon reading the report, decide to sell their stock. Other users do not understand the reports content and significance. They are surprised when IBM declares a smaller year-end dividend and the value of the stock declines. Thus, although the information presented was highly relevant and re liable, it was useless to those who did not understand it. Primary Qualities: Relevance and Reliability Relevance and reliability are the two primary qualities that make accounting information useful for decision making. As stated in FASB Concepts Statement No. 2, the qualities that distinguish better (more useful) information from inferior (less useful) information are primarily the qualities of relevance and reliability, with some other characteristics that those qualities imply. Relevance To be relevant, accounting information must be capable of making a difference in a decision. If certain information has no bearing on a decision, it is irrelevant to that decision. Relevant information helps users make predictions about the ultimate outcome of past, present, and future events; that is, it has predictive value. Relevant information also helps users confirm or correct prior expectations; it has feedback value. For example, when UPS (United Parcel Service) issues an interim report, this information is considered relevant because it provides a basis for forecasting annual earnings and provides feedback on past performance. For information to be relevant, it must also be available to decision makers before it loses its capacity to influence their decisions. Thus timeliness is a primary ingredient. If UPS did not report its interim results until six months after the end of the period, the information would be much less useful for decision making purposes. For information t o be relevant it should have predictive or feedback value and it must be presented on a timely basis. Reliability Accounting information is reliable to the extent that it is verifiable, is a faithful representation, and is reasonably free of error and bias. Reliability is a necessity for individuals who have neither the time nor the

Fate vs. Free Will: Oedipus Rex Essay

Oedipus’ ignorance, disrespect, and unending search for the truth ultimately contribute to his free willing destruction of life and the completion of prophecy. Fate is the theory that our lives are â€Å"predetermined† for us, and the concept that states that humans have the choice to choose what decisions they make in life is know as free will. Society tends to generally feel that free will is the presiding element in their lives. It is important to distinguish reality from figment ideas like the belief that your life is â€Å"controlled by fate†; we live in a world where fantasies do not exist and truth surrounds us everyday. Ignoring this makes you ignorant to the truth; blind to reality and open to fanciful theories-fate-that close your existence to the real world. Free will is definitely the controlling factor in uncovering the truth about Oedipus’ prophecy. He governs all the choices and many obstacles he undergoes alone, including: Oedipus fleeing from Corinth, the riddle being solved, the refusal to quit the search for truth and the supposed fated events, like the death of his father, the marriage to his mother, and the encounter with the drunken man. After Tiresias, a man who foreshadows the future, informs Oedipus what lies ahead he flees from Corinth. â€Å"When I heard this, and in the days that followed I would measure from the stars the whereabouts of Corinth-yes, I fled to somewhere where I should not see fulfilled the infamies told in that dreadful oracle† (Sophocles 792-793). If we as humans were told a fate that would ruin our lives, we would all free willingly try to hide from it. It was not fate that led him to flee from Corinth but the human instinct to hide from the truth. Another major event leading to the fulfillment of the prophecy is when Oedipus solves the riddle in Thebes. The Sphinx asks Oedipus, â€Å"What walks on four legs in the morning, two legs at noon, and three legs in the evening? † He solves the riddle answering, â€Å"That man crawls on all fours in infancy, walks upright on two legs in adulthood, and uses a cane as a third leg in old age. † Technically Oedipus does not have to solve the riddle; he can turn around and travel elsewhere, but he willingly solves it. Oedipus refuses to stop looking for the truth that Jocasta and Lauis were Oedipus’ parents when Jocasta, his wife, told him to. â€Å"Stop in the name of god, if you love your own life, call off this search! My suffering is enough. Listen to me† (Sophocles, Line1603-1605). Oedipus replied, â€Å"Listen to you? No more. I must know it all, I must see the truth at last† (Sophocles, Line 1169-1170). It was Oedipus’ freewill to continue the search of truth, despite the upcoming damage that is to come. Oedipus and those around him consider â€Å"fate† the source of Oedipus’ problems. A supposed fated event that occurred is when Oedipus states, â€Å"The driver, the old man himself, tried to push me off the road. In anger I struck the driver as he tried to crowd me off. When the old man saw me coming past the wheels he aimed at my head with a two-pronged goad, and hit me. I paid him back in full, with interest: in no time at all he was hit by the stick I held in my hand and rolled backwards from the center of the wagon. I killed the lot of them† (Sophocles, Lines 810-820) In the prophecy he was â€Å"fated† to kill his father, but clearly it is Oedipus’ decision to defend himself against the man who attacked him; it’s either life or death and death is not an option for him. The next is the marriage to his mother; marriage is the reward for solving the Sphinx’s riddle. Again, Oedipus could have rejected this prize from the town of Thebes but he voluntarily accepts to marry Jocasta. In the story Oedipus comes across a drunken man who accuses him of not having real parents; Oedipus chooses to listen to this man, which supposedly is â€Å"fate†. A drunken man does not always have the credibility of truthfulness so Oedipus did not have to listen to him, but he freely chose to take note of the things he said to him. In the end it was Oedipus’ ignorance, disrespect, and unending search for the truth that ultimately contributes to his free willing destruction and fulfillment of prophecy. He has plenty of opportunities to make better choices but he is â€Å"blind† to those opportunities because of his flaws and stubbornness. Fate separates us from reality and blinds us from the truth. The truth can be a positive aspect in our lives; we learn from mistakes and it is what fuels our growth. We must all learn that we have the choice to control our own being and the decisions in them–humankind must open their eyes and take control.

Prostitution and Human Trafficking Essay - 3070 Words

Prostitution has been referred to as the oldest profession. Prostitutes can be found in every city and country across the globe. There are a large number of individuals who are currently in the United States and around the world who can be classified as a prostitute. They are expanding from the traditional street level prostitutes to highly paid, high class, prostitutes or escorts. Yet, what exactly would drive those men and women to pursue this class of work, once in this type of work what keeps them motivated to continue on with such work? Prostitution is the act or practice of engaging in promiscuous sexual relations especially for money. Prostitutes can be of either gender, male or female, and can engage in a verity of sexual†¦show more content†¦However, for some people the opportunities available to make any source of income can be limited. The employment opportunities may not cover their financial needs, and therefore need to seek other alternatives. When the opport unities are limited, cut short, or not sufficient enough to cover needs many will turn to prostitution. Prostitution becomes an attractive alternative of income for many especially for those who work on their own, at an individual level. This type of work allows an opportunity to earn more income than the individual may have anywhere else, this is especially true for the younger sex workers. Prostitution allows the ability to create their own working hours, or schedule, which is also appealing, especially when there are other personal responsibilities that need to be attended. Prostitution for those involved in the work is seen as the best alternative for fast money. Money is what has families surviving, companies running, the country running, and motivates any sort of advancement. Income is the most influential factor that would drive anyone into seeking any sort of employment. 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Prostitution is legal but human trafficking is not. How can we make prostitution legal and then not expect is to lead to more human trafficking around the world. Prostitution is the practice or occupation of engaging in sexual activity withRead MoreHuman Trafficking And Forced Prostitution1965 Words   |  8 Pagesand transportation can be done instantaneously has led to an increase in trafficking and prostitution over the past ten years. According to the United Nations Report, the trade now is worth about thirty billion dollars. Human trafficking and forced prostitution is a serious concern when it comes to being a global issue because it is a heinous violation of human rights. The upward trend of human trafficking and forced prostitution is a crime that victimizes men, women, and children. Traffickers are knownRead MoreHuman Trafficking In Russia: Prostitution661 Words   |  3 PagesHuman Trafficking In Russia: Prostitution Human trafficking is one of the major problems that is facing Russia. And Russia is considered the largest country in the whole world. It is massively known for the origin and final destination of trafficked men, women, and children who are forced to labor. Trafficking is carried out mainly for the purpose of exploitation, which includes prostitution, forced labor, slavery, removal of organs and many others (human trafficking in and out of Russia). This isRead MoreProstitution And Human Sex Trafficking1291 Words   |  6 Pagesshort in protecting ones right to rule over their own body. Prostitution, the exchanging of sexual services for payment, has been specifically outlawed by the State of New York. This direct targeting of the sex trade within New York leaves many people unprotected under the law, both in consensual prostitution and nonconsensual human sex trafficking, while greatly eliminating the potential tax revenue that would be generated. Prostitution, when involving consen ting adults, is a victimless crime andRead MoreHuman Trafficking and Prostitution in Russia2058 Words   |  9 PagesHuman Traficking In Russia: Prostitution human trafficking in Russia.-prostitution. Russia is considered the largest country in the whole world. It is massively known for the origin and final destination of trafficked men, women, and children who are forced to labour. Human trafficking is one of the major problems that is facing Russia. Trafficking is carried out mainly for the purpose of exploitation, which includes prostitution, forced labour, slavery, removal of organs and many others (humanRead MoreHuman Trafficking And Child Prostitution1145 Words   |  5 Pagesworld has to make a living somehow. The most unprotected and risky profession, in my opinion has to be prostitution. These men and women go to work without knowing who they will have to deal with and what could possibly happen to them. These individuals participate in this line of work not only to provide for themselves, but also for family members. In essence, the government should legalize prostitution because it would protect their rights, ensure safety, and benefit their health. I believe pushingRead MoreHuman Trafficking And Child Prostitution2104 Words   |  9 Pagesfrom President Barack Obama in 2012 addressing human trafficking and child prostitution within the U.S. In America, there is a conception that human trafficking only happens in less-developed countries. However, the U.S. is the second most prominent destination country for human trafficking in the world (Hodge Lietz, 2007). Cities such as Atlanta, Chicago, Los Angeles, and Detroit are amongst the U.S. cities with high incidences of child prostitution (Hodge Lietz, 2007). Some of these childrenRead MoreTrafficking of Human and Children for Prostitution and Regulation4912 Words   |  20 PagesWhat is Trafficking? Human trafficking is the illegal trade of human beings mainly for the purposes of commercial sexual exploitation or forced labour. Other purposes can be extraction of organs, or tissues or even surrogacy or ova removal. It can also be regarded as modern form of slavery. Trafficking is a lucrative industry. It is second only to drug trafficking as the most profitable illegal industry in the world. In 2004, the total annual revenue for trafficking in persons were estimated to

How To Choose an Immigration Lawyer

Theres a fair bit of paperwork to get done during the immigration process, and you may feel overwhelmed when you first sit down to prepare your immigration forms. You might begin to wonder if you need to hire an immigration lawyer to manage the process. However, if your case is fairly straightforward, you should be able to manage things on your own. There are good reasons, though, to hire an immigration lawyer to handle your case. If you run into a snag partway through the process, you might need legal assistance to work through the issue. If your immigration situation is complicated, or if you simply dont have the time or confidence to prepare the forms yourself, you might benefit from the help of an immigration lawyer. If youre going to hire an immigration lawyer, you need to do your homework. A good lawyer can be worth his or her weight in gold, while a poor one may just add to your problems. Here are 5 tips to keep in mind during your search. Get references. Ask family, friends or colleagues if they know any immigration lawyers. Even if they havent been through immigration themselves, they may be able to connect you with someone they know who has retained the services of an immigration lawyer. People are quick to recommend a good lawyer and even quicker to name a poor one, which can be a great help when youre beginning your search. Search AILA. Search for a lawyer on the American Immigration Lawyers Association (AILA) website. AILA is a national association of lawyers and attorneys who teach and practice immigration law, so you can be reasonably certain youre dealing with someone who understands immigration law and policies. If youre starting your research from scratch, you can search for a lawyer in your area. If youve been given the names of a few lawyers, you can look them up to see if they are members. While membership in AILA is not a requirement to practice immigration law, membership can be a good indication of a lawyers level of commitment to the practice. Interview your short list. Interview potential lawyers to find one who matches your needs. Ask them if they have any experience with your type of case. Immigration law is a huge specialty, so youll want a lawyer who is familiar with your type of case. If the lawyers provide client references, use the contacts to get a better understanding of the lawyers work styles. Compare fee schedules. Some lawyers bill by the hour while others charge a flat fee. Ask if there might be additional costs such as postage, courier fees or long distance charges. Check credentials. When youre sure youve found a lawyer you feel comfortable with, theres only one thing left to do before you sign a contract for services. Contact your local state bar to find out if your lawyer is licensed and in good standing, and if he or she has ever been subject to disciplinary action.