Societal Determinants of Health

Cultural Determinants of Health Louise Matthews Determinants of Health Guide: Liz Footsoy Presentation This article will be taking a gander at how an individual’s wellbeing is resolved inside society. Disease transmission experts who study the example of ailment, have discovered that not all gatherings have similar chances to accomplish great wellbeing (Naidoo, 2009). There are numerous components that impact a person’s wellbeing, for example, where an individual lives, the condition of nature wherein they live, business, pay, instruction levels and connections that individual has with their loved ones. Utilizing work for instance. On the off chance that an individual is in work they will get a pay, which can be utilized to subsidize food, a home and bills. Along these lines they have sanctuary, warming and a better than average possibility of a consistent sound life. In correlation if an individual is jobless they would not get a pay to subsidize food, a home and bills. This would detrimentally affect their wellbeing, truly as well as intellectually. Budgetary concerns and stress could without much of a stretch reason emotional wellness issues, for example, wretchedness and the individual would have low degrees of confidence. They are likewise in danger of living in sodden lodging which could cause long haul respiratory infection (Deaton, 2003). This article will have an inside and out gander at how pay and instruction impact the ways of life of various degrees of social class. It will at that point look how this decides the soundness of these gatherings in the public arena. Factual sources will be utilized as proof to show how death rates are affected by high and low degrees of salary and instruction in England contrasted with America. The exposition will at long last be made to a determination, utilizing all the data and factual realities found all through the composition of this bit of work. An amazing presentation †great utilization of sources. Primary Body[i1] In the 1900’s the significant reasons for death were irresistible infections, for example, Tuberculosis and Influenza yet with progresses in science and upgrades in medication, passings from these kind of illnesses have been drastically diminished. As irresistible have been dispensed with, different ailments have supplanted them as driving reasons for early demise in Western culture. In current the fundamental driver of death are known as incessant way of life related conditions, for example, ceaseless coronary illness, respiratory infection, stoutness, diabetes and certain types of disease (Mc Graw Hill, 2014). These sorts of infections are generally basic among lower financial gatherings. The way of life this gathering of society lead that causes these sort of sicknesses. Things like over the top drinking, smoking; low degrees of physical action and significant levels of pressure, sadness and terrible eating routine are for the most part factors that contribute towards sick wellbeing (Naidoo, 2009). Cardio vascular illness in England is among the most noteworthy on the planet, being the reason for death in 40% of men and 38% of ladies (Mayes, 1991). For an individual to have great wellbeing and prosperity they have to approach new products of the soil day by day so as to eat well. Customary physical movement is basic for infection avoidance and wellbeing advancement. Great wellness diminishes the danger of incessant sicknesses, for example, coronary illness. Great wellness likewise adds to the psychological prosperity of an individual, causing them to feel great about themselves and improving their confidence and expanding vitality levels. Less than 40% of grown-ups meet physical movement rules and this by and large decreases with age (Mc Graw Hill, 2014). Individuals in higher social class bunches live more and appreciate preferable wellbeing over distraught gatherings, for instance a man in an expert activity is probably going to live seven years longer than a man in an untalented or manual activity. Doubtlessly if a man was jobless the future would decrease much further (Naidoo,2009). The significant disparity in social class is riches, salary and training. Numerous financial specialists contend that preferred taught individuals live longer over less fortunate, less instructed individuals. This is on the grounds that with great training, comes great information and comprehension and stands accomplished individuals in better situations to land more generously compensated positions, bringing them great salary and riches. Which means they can bear the cost of better things throughout everyday life, similar to great new food and lodging which thus ought to stretch their future. A shifted, solid eating regimen is basic in advancing great wellbeing. An individual needs to eat to endure, food supplies vitality for development and development, Protein for muscles and dietary fiber for roughage. A low admission of dietary fiber is recommended to be the reason for some infections, for example, obstruction, entrail malignancy, coronary illness and varicose veins (Mayes, 1991).[LF3] The sort of lodging an individual lives in additionally massively affects that person’s wellbeing. On the off chance that somebody lives in a sodden free house, arranged in a territory of low contamination levels, they ought to have lesser possibility of experiencing respiratory issues than somebody who does live in soggy conditions. An individual from a lower class gathering, that must choose the option to live in moist lodging as a result of pay is in danger of sick wellbeing. With clammy lodging comes a wide range of issues for an individual’s wellbeing. It can cause respiratory issues and diseases, hypersensitivities and asthma, nature can likewise influence the insusceptible framework (NHS, 2014). More than one million youngsters in England live in terrible lodging. Poor lodging conditions increment the danger of extreme sick wellbeing or inability by up to 25% during youth and early adulthood. Respiratory issues, for example, hacking and wheezing, implies losing rest, confined physical movement and missing school. Thusly experiencing childhood in poor lodging can have a drawn out effect on a child’s life chances due with the impact it has on their learning and training, lower instructive fulfillment, more prominent probability of joblessness and neediness (Harker, 2006). It is imagined that better instructed individuals are progressively ready to comprehend and utilize wellbeing data and are better positioned to profit by the medicinal services framework. The information that the higher class individuals have taken in keeps them from participating in unsafe practices like hitting the bottle hard and smoking, similar to the lower financial, less taught individuals do.[LF4] Both instruction and pay advance wellbeing in various manners, as expressed before great training makes it simpler to utilize new wellbeing data and innovations and salary makes life simpler for the people, diminishing pressure and stress monetarily. Not stressing over kid care costs and having the option to continue loosening up family occasions, giving them a superior personal satisfaction and better condition of emotional well-being. Lessening feelings of anxiety is similarly as significant as a sound eating regimen and exercise system in decreasing the danger of incessant coronary illness and certain types of disease. Urban communities with higher normal training or higher normal pay have lower death rates (Deaton, 2003). Youngsters naturally introduced to knowledgeable, high salary families will likewise be given the most obvious opportunity at a splendid, solid future. They will understand the significance of instruction and alongside training comes power and the capacity to acquire a nice pay. This is clearly not the situation for kids naturally introduced to less instructed less fortunate families. These kids show up at adulthood with more unfortunate wellbeing and less fortunate instructive fulfillment. This has an enormous thump on impact to that individual’s capacity to procure themselves a decent pay in adulthood. These people will likewise endure elevated levels of pressure and low degrees of confidence which will negatively affect their psychological wellness and prosperity. A phenomenal conversation †very much done! End It is clear toward the finish of this report not every person is given an equivalent possibility at a sound life. Individuals don't get ceaseless ailments since they are unfortunate; they get these infections due to the way of life wherein they lead. These individuals may not decide to lead these ways of life; it tends to be a result of reasons out of their control why they are in these circumstances. Absence of training and pay would all be able to affect upon their wellbeing and way of life. Decent training is the structure square to a solid life. Instruction builds a person’s possibility of employability and capacity to adapt to numerous circumstances, permitting the individual not to get overpowered with pressure which could detrimentally affect their emotional well-being. Work gives salary and in this manner access to wellbeing advancing assets, for example, an assortment of new leafy foods, great lodging and warming. Individuals need to take training all the more significantly since the beginning to build the entire of society’s futures and to close the hole between various social classes. Clear, unequivocal end anyway it is essential to consider factors, for example, a sound harmony between nourishments, beverages and exercise. A few people who practice unreasonably when they are youthful will frequently endure sick wellbeing further down the road and so on. In general a great report †very much done! Table of Reference Mayes, A. (1991) ‘The A-Z of Nutritional Health’. London: Harper Collins Publishers. Naidoo, J., Wills, J. (2009) ‘Foundations for Health Promotion’. (third version) London: Bailliere Tindall ELSEVIER. Deaton, A. (2003) ‘Health, Income and Inequality’ [Online] Available at: http://www.TheNationalBureauofeconmicresearch.com [Accessed †twelfth May 2014] GOV.UK. (no year) ‘Can moist and form influence my health?’ [Online] Available at: http://www.nhs.co.uk [Accessed †fifth May 2014] Harker, L. (2006) ‘The effect of terrible lodging on children’s lives’ [Online] Available at: http://www.england.shelter.org.uk [Accessed †twelfth May 2014] Mc Graw Hill. (no year) ‘Lifestyle for wellbeing, wellness and wellness’. [Online] [Accessed fifth May 2014] Generally excellent scope of sources! 1 [i1]Should be conversation of discoveries [i2]Always

Should gay marriage be legalize Essay Example | Topics and Well Written Essays - 750 words

Should gay marriage be authorize - Essay Example I bolster the sanctioning of gay relationships due to their likeness to hetero relationships, are dictated by wild organic powers, and have existed in human social orders through the course of time. Gay relationships are established on almost a similar sort of rules that support hetero relationships. These relationships show the attributes of organization, backing, and love, which are additionally major in hetero relationships. Gay relationships take after ordinary relationships and just vary because of the association of individuals of a similar sex. As indicated by the individuals who hang on this feeling, marriage should help individuals to conform to the real factors of life and appreciate the organization of one another (Baird and Stuart 50). Gay couples generally demand that they are cheerful in the organization of one another and that they would not wish or yearn for some other option. As to issue of having youngsters, supporters of gay relationships demand that kids are not e ssential to the achievement of a marriage. They fight that youngsters could be received if the gay couples truly need them in their marriage. The bonds that hold gay relationships are dictated by wild natural components. ... They battle they involve a minority bunch in the general public and must be secured by the ordinary laws that shield the privileges of the minority. American Civil Liberties Union (ACLU) contends that restricting or prohibiting their relationships is an encroachment on gay people’s rights and freedoms (Stockland and James 13). The general public must, consequently, figure out how to endure them and treat them as a major aspect of the social framework. Gay relationships have existed from recorded periods to the present age. They existed during the present hundreds of years and the old world suited them inside their own structures (Eskridge and Spedale 143). Their contention is that gay connections and gay relationships are a truth of life and must be obliged in any general public. As indicated by them, the antiquated world obliged gay connections on the grounds that the social orders around then could draw a line between singular rights and social real factors. They contend tha t the general public has not had any issues coming about because of gay connections. Measurements show that around 9 million Americans fall inside the class of gay, lesbian, or different directions that don't fit in with customary ethical quality (Wardle 97). Backing for the legitimization of gay relationships is on the grounds that the high measurements of gay individuals shows that their reality in the general public is a reality that can't be wished away. All things considered, their privileges must be defended and regarded by the prevailing hetero populace. In any case, the individuals who contradict the sanctioning of gay relationships contend that these relationships have the limit of disintegrating the social texture. They contend that human activities and conduct must be guided by the nature. Normally, relationships should just be permitted among people. The individuals who

Essay on Menopause

Essay on Menopause Menopause Dec 20, 2018 in Healthcare Epidemiology of Menopause Menopause is a condition that involves the cessation of a womans reproductive ability. It normally occurs in the women aged between 40 and 50. It signals the end of the womens reproductive phase. If a woman had no children, it creates a social corner in the community. During this period, the ovaries lose their function which lead to the cessation of menstrual periods. The transition from a reproductive to nonreproductive phase causes a lot of concern to the woman. However, it is a consequence of biological aging which occurs over the years. The signs and symptoms that occur after the years of menopause can disrupt their activities of daily life as well as their sense of well-being (Melby Lampl, 2011).

Innovative Products Of Supply Chain Management - 2241 Words

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Companies that create and manufacture innovative products such as Hewlett-Packard (HP) have to deal with attacking tough supply chain management challenges on a daily basis in order to remain top competitors within their industries. Hewlett-Packard is one of the well known companies in building high tech computers and peripherals products. HP was founded in Palo Alto, California in 1939 by William Hewlett and David Packard. The company started off as an electronic testing and measurement equipment company, and then they moved on to building computers. HP has six product groups, and they areShow MoreRelatedReview on Article - What Is the Right Supply Chain for Your Products1505 Words   |  7 PagesWhat Is the Right Supply Chain for Your Product ? 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Strategic Development And Implementation Of Alibaba Group...

Strategic Development and Implementation Strategic Profile Mohammed Ali MBA 6999 May 03, 2016 Dr. Roundtree South University Alibaba Group Alibaba Group’s mission is to facilitate business everywhere. The firm is the leading mobile and online business firms in the universe with regards to gross products quantity. Established in 1999, the firms offers the basic marketing reach and technology infrastructure to assist companies leverage the Internet’s power to create a presence online and conduct business with numerous clients and other enterprises (Alibaba Group, 2015). 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Music of the 1950s Free Essays

Kayla Curlett Period 5 Music of the 1950’s Rock ‘n’ Roll, Pop, RB, and Swing are some of the popular genres of music during the decade of the 1950’s. Music during this time period had a major influence on the people. It influenced their clothes, hair, fashion, dance moves, and their independence. We will write a custom essay sample on Music of the 1950s or any similar topic only for you Order Now Many teenagers during this time used the slogan â€Å"Sex, drugs and Rock ‘n’ Roll. † Some famous artists included Elvis Presley, Ricky Nelson, Fats Domino and Pat Boone. One of the biggest hits about the decade was Don McLean’s â€Å"The Day the Music Died. † Classic Pop dominated the charts for the first half of the decade. Classic Pop often used orchestras to back up the vocalists. Pop music often included elements from other styles like urban, dance, rock and much more. However these elements defined pop music. These songs had repeated choruses and catchy hooks. Electric guitars, drums and bass were some of the main instruments used in these songs. Despite the racial problems during the time, there was a sense of equality in Rock ‘n’ Roll. Chuck Berry was one of the first black Rock ‘n’ Roll performer that appealed to both audiences. He combined the sound of Rhythm and Blues with Rock ‘n’ Roll. The movie, â€Å"Blackboard Jungle,† gave Rock ‘n’ Roll a huge audience when Bill Haley and the Comets performed â€Å"Rock Around the Clock. † Bill Haley and the Comets practically became famous overnight. Elvis Presley was the king of Rock ‘n’ Roll. He was said to have the greatest impact on early Rock ‘n’ Roll. For Elvis Presley, 1956 was a year like no other. In January he became a regional sensation but by the end of the year he had become a national prodigy. His first two albums were million dollar sellers which included top songs like â€Å"Hound Dog,† â€Å"Love Me Tender,† â€Å"Don’t be Cruel† and â€Å"Heartbreak Hotel. † He appeared on national television eleven times and appeared in his first movie called â€Å"Love Me Tender. † Elvis Presley had a unique style that was either loved or hated. He became a cultural icon especially to teenagers. In March of 1958, Elvis was inducted into the army for two years; however, the Memphis Draft Board postponed his leaving so he could finish filming his fourth movie, â€Å"King Creole. Elvis’s famous ducktail hair, crazy dance moves, and popular music make him the legacy that he is today. Another popular Rock ‘n’ Roll artist of the 1950’s was Buddy Holly. He was described as â€Å"the single and most influential creative force in early Rock ‘n’ Roll. † His signature style was his wayfarer glasses. Buddy was first inspired by Elvis Presley but as Buddy became famous his popularity rivaled Elvis Presley’s. In 1952 he recorded the song â€Å"I’ll just pretend† with Bob Montgomery. Later on he formed his own band, â€Å"The Crickets. † In 1958, Buddy decided to open up his own recording studio called Prism Records. He earned a huge amount of success in such little time; unfortunately On February 3rd, 1959 he died in a plane crash along with two other Rock ‘n’ Roll legends Ritchie Valens and J. P. â€Å"The Big Bopper† Richardson. This was considered the first and greatest tragedy that rock ‘n’ roll has ever suffered. It later became known as â€Å"The Day the Music Died,† in Don McLean’s song â€Å"American Pie. † The single â€Å"American Pie† was a number one U. S. hit for four weeks. Although the lyrics to this song may be puzzling, they have a significant meaning. Each verse represents important events that took place during the 1950’s. In the lyrics, â€Å"That music used to make me smile,† represents the happiness and optimism of the 1950’s in America. Buddy Holly was McLean’s idol and when Holly died the day the music died became the day innocence and optimism died. American pie and Chevrolet are both references to the 1950’s in America. American pie was a common symbol or an American icon used during that time. A Chevrolet was one of the most common cars during the 50’s. The verses â€Å"If the Bible tells you so, do you believe in rock ‘n’ roll, can music save your mortal soul† represent how America was shifting from faith in God to faith in music. â€Å"And while the King was looking down, the jester stole his thorny crown,† this represents how Bob Dylan stole Elvis Presley’s fame and became the number one musician in the hearts’ of the fans. And the three men I admire the most, the Father Son and Holy Ghost,† McLean is referring to the Father Son and Holy Ghost as Buddy Holly, Richie Valens and the Big Bopper. â€Å"They caught the last train for the coast, the day the music died,† here McLean is referring to the plane crash that killed three amazing musicians of the 1950’s. Some may say that music has no significance to an era, but it does. It i s what shapes a culture and the people during a time period. It changes people’s thoughts, style, and actions. Even music from past decades has a significant impact on our society today. Elvis, Pat Boone, and Ricky Nelson were all popular back in their time, yet they are still widely known in the present. With the downturn of quality of music today, there has been an increase in preservation of keeping old school music popular, in hopes to re-shape the minds of young people in our society. It is widely believed that music is a reflection of society and the people in it, and for that reason, positive and inspirational music of the 50s must be introduced to the young ears of society for decades to come. How to cite Music of the 1950s, Essay examples

Sustainable Financial Management Investments

Question: Discuss about the Sustainable Financial Management Investments. Answer: Introduction Financial statements are reports that represent the financial health, results, and cash flows of an organization. The statements are crucial for the business because they determine the companys ability to generate cash besides the sources and uses of the cash generated (Braun, 2012). Financial statements are also useful to the organization because they show the performance and commitment of the company with respect to paying back its debts. Financial statements are also useful in the investigation of various practices and transactions conducted by the business. From the financial statements, it is possible to derive ratios that help to determine the companys health. Such ratios include but are not limited to profitability ratios such as gross profit margin, return on assets, and return on equity (Braun, 2012); liquidity ratios such as the quick ratio, current ratio, working capital, and the acid test ratio (Brooks Mukherjee, 2013); management efficiency ratios such as accounts receivable turnover, asset turnover, inventory turnover, and the days sales in inventory (Brigham Houston, 2012). These ratios measure the different operations and results of a company that can help to determine the financial health of the company. This paper describes various aspects of a financial statement and the rationale and criticism behind the processes used to prepare the statements. Accounting Concepts Financial statements report the financial activities of the company (Gibson, 2012). The statements represent the strength of the company, its performance, and liquidity. The basic contents of a financial statement include a balance sheet or a statement of financial position, a profit and loss statement also known as an income statement, and a statement of cash flow (Brooks Mukherjee, 2013). The statement of financial position represents the companys financial position for a given time, usually a fiscal year or quarterly. This statement is comprised of the assets owned and controlled by the business, the liabilities, which the business owes to others, and the equity, which the business owes its owners (Gibson, 2012). The statement of income has the income of the business over a period and the expenses incurred over the given period. The statement of cash flow, on the other hand, reports how the business has moved cash and its bank balances over a period. The statement of income shows the profitability if the company during a period (Shim Siegel, 2012). It can be prepared quarterly or annually. This statement may be presented in its entirety or be combined with other comprehensive income information the company may have. If combined with other comprehensive income, it forms a statement of comprehensive income (Gibson, 2012). The income statement is presented in a manner that provides full details about the earnings of the company to the investors and shareholders alike. This also involves presenting the information in a way that details the nature of the expenses (Noreen, Brewer, Garrison, 2013). The Qantas statement of income found on page 52 of the companys annual report follows a similar pattern. The format follows that of presenting the revenue first followed by the tax expense and the post-tax profit or loss realized by the company. The companys post tax loss or profit from discontinued operations is preceded by the net profit or loss results. To maintain relevance, the expenses incurred by the company are recorded by function. The representation of the expenses by their nature as it is case for Qantas implies that these expenses cannot be allocated among the various segments of the business. The company also included a statement of comprehensive income on page 53 of its report. The comprehensive income takes into account how factors such as currency translations adjustments, unrealized gains or losses on investments, and pension liability adjustments, affect the income or loss of the company (Hitchner, 2011). These figures are indicative of a volatile market or economic events but over time, they tend to even out. Asset valuation is another term mentioned in the passage. Asset valuation refers to the process of gauging the value of the company, its property, and any other value items the company controls (Bolton, 2015). The assets can include buildings, stocks, equipment, bonds, goodwill, brands, and labour. The assets reported in the Qantas annual report include cash and cash equivalents, inventories, receivables, intangible assets, property and equipment, and deferred tax assets. Asset valuation is done by assessing the book value of assets and their market value (Fabozzi Peterson, 2013). The former valuation is lower because the assets are reported by their historical cost. An asset is valued by comparing it to other similar assets and its cash potential. Cost of acquisition, replacement cost, and the accumulated depreciation values are used in valuation of assets. Accrual accounting measures the financial performance of the company and its position by taking into account economic events regardless of whether cash transactions are conducted or not (Essayyad, 2015). The current inflows or outflows of cash in the company are combined with the cash flows expected in future. The method presents an accurate understanding of the companys current financial health and is in no way related to cash accounting that only records transactions after cash has been exchanged. Terms such as accounts receivables as seen in the Qantas annual report indicate that the company uses accrual accounting. Problems of Measurement in Relation to present AASB/IASB Standards and Conceptual Framework The Conceptual Framework describes why financial statements are prepared and reported. These statements provide important information for interested investors, creditors, lenders and shareholders of the company to guide them when investing into the company. Thus, the Framework defines what is useful enough to merit being recorded in the financial statement to make a difference in the decisions investors, creditors, and other interested parties may consider (Benston, 2007). The usefulness of the information should also be improved by making understandable and timely comparisons and verifications. The Conceptual Framework sets out the various concepts that determine the preparation and presentation of financial statements (Benston, 2007). Thus, the Framework assists IASB in identifying the concepts to be used when developing and revising the standards of financial reporting. However, the current framework has a few problems that make financial reporting difficult. Some sections of the Framework are unclear, while others are not covered and outdated. The existing Framework does not have clear guidance on a number of areas. For example, the framework does not give clear definitions to assets and liabilities. The definitions provided in the framework do not focus on the economic resources and obligations but instead focus on the inflows and outflows of economic benefits generated by the economic resources controlled by the company (Mard, Hitchner, Hyden, 2007). For example, on the balance sheet some current and non-current liabilities that bear interest are only reported in connection to specific financing of the engines and aircrafts for the respective aircrafts. Consequently, the company reported other non-cash financing activities in addition to plant, property and equipment under finance leases of $32 million. The Conceptual Framework does not provide guidance on the measurement, presentation, and disclosure or how a reporting entity can be identified. The single basis of measurement for an asset and liability does not provide useful details to the reader of the statement (Hitchner, 2011). Consequently, the measurements do not include the amounts that can be added meaningfully, or subtracted or compared. The economic significance of the measurements, both individually and collectively are not covered. With regard to presentation and disclosure, presenting relevant information is a challenge because the Framework champions documentation of accounting constructs used by the company without defining the disclosures that can directly and efficiently relate to the primary objective of financial reporting (Bolton, 2015). The current reporting standards (IFRSs) measure different assets at various historical costs such as is the case for some property, plant and equipment items; fair value such as investment properties, and the fair value directly attributable to the transaction costs (Neuhausen, Schlank, Pippin, 2007). Such measurements do not clarify if the historical or current prices are used or if the cash flows estimated belong to the company or other market participants. There is thus a need to have a single conceptual measurement framework that provides guidance on the development of consistent requirements of measurement. Relevance of Using Processes of Measurement in Faithful Reporting of Estimates of Costs Accounting is largely responsible for providing a user of a financial report in making an informed choice about a certain financial decision. Financial reporting and accounting is however, limited in some respects and these have brought about the debate on faithfulness of the various methods used to estimate the costs and liabilities recorded in the financial statements. The use of different accounting principles to prepare financial statements helps to present accurate circumstances of the entity. These different frameworks and policies afford an entity with the flexibility to present reliable information about the companys financial health (Zhang Andrew, 2014). However, the use of different frameworks in reporting financial performance can present a challenge when it comes to comparing the results with other players in the industry (Whittington, 2008). This is particularly true if the entities under comparison are found in different geographical localities but ply the same industry. Estimates, in this case cannot provide a closer comparison because the policies used to prepare the statements differ. The AASB and IASB underline the importance of producing high-quality reports. However, it is difficult to do so because entities are yet to fully grasp how to operationalize and measure the quality demanded from them. Using estimates to prepare financial statements is a common practice. However, the estimates are inherently subjective and thus do not have the accuracy needed because they depend on the managements foresight in approving the values included in the statements (Hitchner, 2011). The use of fair value to estimate the value of assets and liabilities is a common practice and is also evidenced in the annual report from Qantas. According to the IFRS, fair value standard defines fair value as the price attained when an asset is sold or paid to transfer a liability between participants at the date of measurement (Benston, 2007). The orderly transaction in this case is the asset or liability that has been exposed to the market before a fair value measurement to allow other activities (Wells, 2011). An entity can thus measure fair value with the assumption that market participants will act in their best interest economically (Bolton, 2015). The fair value can be derived from internally generated input determinants such as the expected net cash flows of an asset (Bolton, 2015). It can also be measured from the fair value found on the date of the balance sheet date as a product of the quoted price and the held quantity (Gibson, 2012). Low levels of faithful representation can affect the relevance of the value of the asset or liability. The low level may be caused by a low return in the stock, usually about less than 3% in a year. The fair value of the assets at Qantas such as cash and cash equivalents, non-interest bearing financial assets and liabilities were approximated by their carrying value because they have short maturity (Hitchner, 2011). The estimation process utilized their present value of future contracted cash flows. Future estimates were thus used for these financial assets and the report also cites AASB 9 Note 29(E) in the representation of the fair value of other financial assets and liabilities (Benston, 2007). The use of internal variables in the measurement of the value of the assets and liabilities adds to the debate on value estimation and valuation. Some have discouraged the measurement of fair value at successive balance sheet dates because the fair value changes should not be added to the net income (Fabozzi Peterson, 2013). However, such measurements of the assets and liabilities at the balance sheet dates do not necessarily necessitate reporting the values in the net income. This is so because some items such as effects of the error corrections and changes in methods of accounting are not measured at fair value but can be included in the income statement. Conclusion Financial statements are crucial reports used by investors, creditors, and shareholders of a business to assess the financial health of the company. Through these statements the profitability, managerial competence, and liquidity of the company can be assessed. Aspect such ass asset valuation and faithful reporting of the value of the assets and liabilities of the company have been subject to much debate that hassled some to discredit the importance of preparing financial statements. One reason for this is how the firms estimate the cost of their assets and liabilities and when the valuation takes place. However, what is clear is that the firms such as the one discussed in this report, adhere to the standards and framework set out in the AASB/IASB and the Conceptual Framework in reporting their financial results. An entity reports and audits its financial performance and presents the results to the users of the report in a manner that will help them make informed decisions on whether to invest in the business or not. The different ways in the companies report their results in accordance with the set guidelines and rules should not be a basis of discrediting the statements. References Benston, G. J. (2007). 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