The War Policy Of Bombing Cities Essay - 1647 Words

Arguments against the statement: 1) The Japanese were Warned Supports of the atomic bombs point out that Japan had been warned and given time to surrender. On July 26, the Potsdam Declaration was sent to Japan as a final ultimatum to accept unconditional surrender. The Allies would accept nothing but unconditional surrender with the document being concluded with â€Å"We call upon the Government of Japan to proclaim now the unconditional surrender of all the Japanese armed forces †¦ the alternative for Japan is prompt and utter destruction.† In terms of warning, the US had dropped some 63 million leaflets on 35 cities warning citizens that if they didn’t surrender, Japan would be subjected to more bombing and eventual atomic bombing in an attempt to force the government. 2) Justification as a result of the War Policy of Bombing Cities The War Policy of Bombing Cities is the act in which cities are levelled and despite being morally questionable and distasteful; supporters say that because Truman had inherited the policy from Roosevelt, this made dropping the atomic bombs just an extremity of city bombing. This policy had been used as early as 1932 when Japanese planes bombed Chapei. It was further seen to be used by the Axis when Italy started its conquest of Ethiopia in 1935-1936 and by the Germans as part of an incursion in the Spanish Civil War. It had also been used by the Allies previously to Japan when the British and Americans had started their retaliation against GermanyShow MoreRelatedHiroshima And Nagasaki Bombing Of Hiroshima1206 Words   |  5 PagesWorld War Two Hiroshima and Nagasaki Bombing The Bombing In 1945, the US dropped 2 atomic bombs on the cities Hiroshima and Nagasaki in Japan, causing hundreds of thousands civilian deaths. Some people say that this act helped to end the world war and save more lives, but others think that it was not needed and wasn t the cause of the Japanese surrender. Sequence of Events 5th August 1945 President gives approval to use bombs 6th August 1945 Bombing of Hiroshima 9th August 1945 Bombing of NagasakiRead MoreThe Utilisation Of Nuclear Weapons On The Japanese Cities Of Hiroshima And Nagasaki1580 Words   |  7 PagesThe utilisation of nuclear weapons on the Japanese cities of Hiroshima and Nagasaki is a hotly debated topic amongst historians. With the consent of the United Kingdom (UK) and the United States of America (USA) as outlined in the Quebec agreement, the United States of America dropped nuclear weapons on the Japanese cities of Hiroshima and Nagasaki in August 1945, during the final stage of World War II. These two bombings, which killed at least 129,000 men, women and children are considered a triumphRead MoreThe Threat Of The Atomic Bombs1467 Words   |  6 Pagesa president has ever been faced with. This decision, of course, being whether to drop the atomic bombs on Japanese cities, not drop the bombs at all, or do a demonstration by dropping a bomb in the ocean near Tokyo. Truman eventually chose to drop the atomic bombs on both Hiroshima and Na gasaki in August of 1945. This choice to drop the atomic bombs was right because these bombings assisted in slowing the expansion of the Soviet Union, changed the Japanese never-give-up mentality, and prevented theRead MoreHiroshima; Right or Wrong? Essay992 Words   |  4 Pagesunnecessarily kicking someone when they are already down. The Japanese wanted peace and tried to surrender, the only condition was that they could keep their emperor. The U.S. declined and said they had to have an â€Å"unconditional surrender.† After the bombing, the U.S. let Japan keep their emperor anyway. The U.S. could have saved so many lives if they had just let the Japanese surrender earlier, considering they gave them their one condition they requested. It seems cruel and impractical of the U.S, becauseRead MoreThe Atomic Bombs On Japanese Cities1454 Words   |  6 Pagesa president has ever been faced with. This decision, of course, being whether to drop the atomic bombs on Japanese cities , not drop the bombs at all, or do a demonstration by dropping a bomb in the ocean near Tokyo. Truman eventually chose to drop the atomic bombs on both Hiroshima and Nagasaki in August of 1945. This choice to drop the atomic bombs was right because these bombings assisted in slowing the expansion of the Soviet Union, changed the Japanese never-give-up mentality, and prevented theRead MorePerspective And Perception Of An Event1619 Words   |  7 Pagesin the United States Air Force, while her mother was in Vietnam. To her, the Vietnam War was so controversial because her mother was Vietnamese and she was coming to America. This event impacted her life because it really was the starting point of her life; without it, her father would have never met her mother, and she would have never existed. After she grew up and learned about the war, her perception of the war was that it gained bad publicity, because Americans were looking down on the VietnameseRead MoreThe Video Titled World War II1008 Words   |  5 Pagestitled World War II Part 1#35 focuses on the events that were taking place in America before the actual engagement in the war began and the manner in which the US got into the war. The video also focuses on the fighting that the US was engaged in concentrating on such aspects as the military tactics utilized and their impact on the war. The main thrust of the army tactics explored is focused on aerial warfare and specifically the massive bombings that took place until the dropping of the war-ending atomicRead MoreThe Governments Response to the Oklahoma City Bombing Essay1270 Words   |  6 PagesThe Governments Response to the Oklahoma City Bombing The Oklahoma City Bombing affected many Americans, including the President of the United States. From the start the White House immediately dispatched the FBI. The initial reaction was to close the airports, but that would infringe on civil liberties. Government intervention with this tragedy would help many victims family members cope with the loss of their loved ones. Presidential response as wellRead MoreForeign Policy During World War II847 Words   |  4 PagesForeign policy, in its most general sense, is the relations of one country to another on the international stage. It can strengthen or destroy administrations, create or tarnish legacies, and ensue or conclude conflicts. But regardless, foreign policy contributes to the creation of significant and noteworthy history that future generations can create precedents from; this includes events and decisions that occurred in the twentieth century. Throughout this time, the United States was involvedRead MoreThe Morality of the U.S. Bombing Hiroshima1348 Words   |  6 PagesThe Morality of the U.S. Bombing Hiroshima On August 6 and 9, 1945, the only atomic bombs ever used in warfare were dropped on the Japanese cities of Hiroshima and Nagasaki. The mass destruction and numerous deaths caused by those bombs ultimately put an end to World War II. Was this the only way to end the war, however? Could this killing of innocent Japanese citizens had been avoided and the war still ended quickly. This paper will go into this controversial topic.

Is Dualism Best The Nature Of Consciousness Essay

Student ID Number: 00180694 November 2rd, 2016 Philosophy 101: Introduction to Philosophy Professor Bayne Dualism Best Explains the Nature of Consciousness The three theories we have discussed so far are the dualism theory of Plato and Descartes, the Aristotelian theory, and the Physicalism (identity) theory of Place and Strong. The identity of consciousness means that if you have the same consciousness, you are the same person, and if not conscience, you are not the same person. The thing that remains constant throughout all states of consciousness is that it is physically the same human being. For example, the drunk person and the sober person are the same human being, but may not be the same person. We are the same human being throughout our lives but we are not the same person, so our consciousness changes as we grow. The Aristotelian theory and the Physicalism theory of Place and Armstrong make strong points about the nature of consciousness, but Plato and Descartes’ theory of Dualism offers the best explanation of the natural state of consciousness. Aristotelian Theory Arist otle questions if the body and soul are both independent things. He claims that if affections of the soul can be separated, then the soul and body are separable. He stresses that we should think of the soul as being similar to the body. Aristotle believes that not any soul can be matched with any body. For example, an animal’s soul cannot go in a human body because they have differentShow MoreRelatedRene Descartes Concept Of Dualism And Then Defend My Preferred Alternative Among The Options Paul M. Churchland1513 Words   |  7 PagesIn this paper, I will examine the principal merits and challenges of Renà © Descartes’ concept of dualism and then defend my preferred alternative among the options Paul M. Churchland discusses. After briefly defining Cartesian Dualism, I will show that its principal merits are that it is consistent with common sense and that it is able to explain phenomena that appear mental in nature. Next, I will show that its principal challenges ar e its failure to adequately explain how the mind and the body canRead MoreIntentionality And Consciousness And The Characteristics Of The Mental1441 Words   |  6 PagesIntentionality and Consciousness and the Characteristics of â€Å"The Mental† All of us try and explain the great mystery that has pondered ancient and modern philosophers. What constitutes our mental thoughts? Putting characteristics together to describe â€Å"The Mental† is something that Graham has done in order to try and explain the ongoing phenomenon of the Mind-Body problem. Philosophers and writers, including Graham, have developed, and held onto the ideas that Intentionality and Consciousness are directlyRead MoreEssay On Mind Body Argument1409 Words   |  6 Pagesthe body which sounds quite poetic nature, but with all emotional feelings aside what would be the actual scientific, cynical some could argue, way of actually addressing the Mind-Body Problem? Since there is very limited evidence that people can observe physically then it is apparent that the idea of Dualism is quite outlandish. Typically, when an argument accounts for unobservable facts and rather theoretical notions it is deemed to be be incorrect by nature as they are based on p ersonal opinionsRead MoreCartesian Dualism And Transhumanism : Theories Within Their Time Contexts1510 Words   |  7 PagesCartesian dualism and transhumanism are both controversial theories within their time contexts. Leahey (2004) describes Descartes dualism as the separation of the body and the soul. The soul is immaterial and is the location for thought, consciousness, and the Cartesian Theatre, and controls the actions of the material body. Transhumanism theorises that technology will enhance and supersede human evolution (Elkins 2011,) as technology will become an extension of ourselves, or already is. I will exploreRead MoreThe Problem Of Separation And Dualism1399 Words   |  6 Pagessuggests a problem of separation and dualism. Dualism shall be claimed, it is an intuitive position; it offers an explanation of the mind and body in terms of substances (Descartes, 1641) or properties (Strawson, 1959), in which the mind is somehow considered as a non-physical thing, thus se parated from the physical world. In contrast, a rival view is that there are only physical things, hence there is no separation between mind and body as suggested by dualism, and that the mind is most accuratelyRead MoreThe Problem Of Separation And Dualism1399 Words   |  6 Pagessuggests a problem of separation and dualism. Dualism shall be claimed, it is an intuitive position; it offers an explanation of the mind and body in terms of substances (Descartes, 1641) or properties (Strawson, 1959), in which the mind is somehow considered as a non-physical thing, thus separated from the physical world. In contrast, a rival view is that there are only physical things, hence there is no separation between mind and body as suggested by dualism, and that the mind is most accuratelyRead MoreThe Problem Of Separation And Dualism1399 Words   |  6 Pagessuggests a problem of separation and dualism. Dualism shall be claimed, it is an intuitive position; it offers an explanation of the mind and body in terms of substances (Descartes, 1641) or properties (Strawson, 1959), in which the mind is somehow considered as a non-physical thing, thus separated from the physical world. In contrast, a rival view is that there are only physical things, hence there is no separation between mind and body as suggested by dualism, and that the mind is most accuratelyRead MoreA Dialogue Between Descartes and Me1851 Words   |  7 Pagesto your traditional views of dualist nature of the person based on what these men have had to say on the topic. Descartes: I see - I know these thinkers very well. My dualist views lead me to believe that the mind is a nonphysical entity distinct from our bodies. It can be associated with our consciousness and self-awareness and separated from the material attributes of our bodies. I have concluded that our minds do not follow the traditional laws of nature associated with our bodies, and are thusRead MoreThe Concept of Dualism Essay1013 Words   |  5 Pagesmachinequot; form of substance dualism best solves the mind body problem. My views in this area have been influenced by my twelve years of Catholic education. The soul, or mind, depending on your level of belief, was a complete and separate entity and was the center of a human being. The body was an ambulatory device that the soul directed. The idea that the mind is a separate entity and that it is independent of the physical body is the central point of substance dualism. nbsp;nbsp;nbsp;nbsp;nbsp;Read MoreI, Myself, And My Body1222 Words   |  5 Pagesa stand on the issue. While Dualism may spilt mind and body, monism is the belief that the mind and body are together one. Each of these beliefs can be broken down into types, justifying monism or dualism. Though each have been discussed, dualism is more logical in the sense that mind and body are separate because the mind is not physical. Dualism holds the idea that the mind and the body are separate entities. This can be broken down into two smaller types of dualism, ontology and interaction.

Is Latin America a More Democratic Place Today Free Essays

Is Latin America a more democratic place today than it was in 1945? Given the word and time restrictions, an in depth analysis of each Latin American country’s democratic progression across the time period would simply not be feasible. Instead I will attempt to look at Latin America’s progression as a whole and will provide examples of specific countries situations where relevant, in particular Venezuela. Firstly it is important to distinguish between two ideas. We will write a custom essay sample on Is Latin America a More Democratic Place Today? or any similar topic only for you Order Now One is democracy. For democracy to work, there must be free and fair elections. There must be more than one political party. The people of the country should have a good education so that they can make informed choices. They should share a common culture. All must accept the idea that everyone has equal rights. Finally, there must be rule by law, not by power. In other words there must be a separation of power, which means that the judiciary has to be a completely different body from the governing power of the country. Many nations in Latin America have had dif? culty achieving democracy because all these factors are not present. The second idea is that of democratic culture. This involves the existence of constitutions, respect for rights, transparency when it comes to policies and governmental decisions and crucially, no corruption. Latin America, when viewed as a whole, is generally viewed as a more democratic place now than in 1945 but it would be wrong to assert that during the past 68 years Latin American countries have undergone a steady increase in democracy. Brazil is a prime example of a country that has gone through fluctuations in democracy throughout the period. Currently in Latin America, despite being in a state of relative poverty when compared to the rest of the world, the majority of countries have become, at least formally, electoral democracies. 13 countries are now classed as free, 8 as partially free, with only Cuba and Haiti being deemed as not. Venezuela, following the recent passing of Hugo Chavez, is at a crossroads on its journey to democracy. However many question how democratic a ruler Chavez actually was in his time as president. One of two very important relationships to analyse is that of democracy and the level of development in a country or in this case Latin America. This leads on to what is one of the most stable relationships in social sciences, the positive correlation between high levels of wealth and established democracy (Lipset 1959). To back this statistic up, a democratic regime has never fallen after a country has reached a certain level of income per capita, which is said to be $6055 (Przeworski 2000). In 1945 Latin America was still recovering from the economic shockwaves caused by the great depression of 1930. This global economic crisis meant that the rest of the world was not demanding any imports from Latin America. At the time these would have been mainly raw materials and this lack of export revenue for the South American countries had a detrimental effect on their situations in the majority of cases. During the decade or so after the great depression, around 1945, the effects will have trickled down and income per capita and GDP levels will have been significantly reduced. This will in turn have destabilised democracy attempts and can be viewed as a reason for why Latin America was less democratic then than it is now. Without the economic and financial means it is very difficult to achieve a fully functioning democracy. Of course it is worth pointing out that we are nearing the end of a fairly gruelling global economic downturn today but the consequences for Latin America are far less in this instance. The economic growth in Latin America has been very modest throughout the 68 years in question but more importantly it has been volatile. Periods of prosperity in several countries have been followed by long periods of stagnation and even negative growth. This volatility can be seen in Latin American countries progression since independence in terms of democracy as well. Take Brazil as an example. The country became independent in 1822 and was ruled by a monarchy. In 1930 this monarchy was overthrown and the country was under a dictatorship for a couple of decades. In 1956 an elected leader was installed only to be replaced by military rule 10 years later. Finally in the 1980’s, as a result of yet another economic decline, Brazil was yet again ruled by an elected president. The other significant relationship that needs to be looked at is that of democracy and corruption. Corruption is usually defined as a violation of the norms of public office for personal gain (Nye 1967). It has been suggested that corruption permeates everyday life in Latin America with only very high profile cases ever being unveiled in a court of law and even then this only happens in the more democratic countries (Blake and Morris 2009). Here are a few statistics to back this assertion up. In a 2004 survey 42 % of respondents ranked the probability of paying a bribe to the police as high, while 35% expressed the same ease of bribing a judge (Blake and Morris 2009). In a 2005 survey, 43% of respondents in Paraguay and 31% in Mexico admitted to having paid a bribe just within the past twelve months (Blake and Morris 2009). Democracy has a complex and multifaceted relationship to corruption (Doig and Theobald 2000). It provides alternative avenues to obtain and then use power and wealth. This leads to brand new opportunities for corruption. However despite the fact that democracy makes it easier for corruption to exist, when there is a democracy it becomes of even greater importance to supress corruption as it strikes at the very meaning of democracy itself. To sum this idea up, corruption undermines the essence of citizenship, distorting and crippling democracy (Blake and Morris 2009). It is clear from the statistics in the previous paragraph that corruption continues in today’s Latin America to have a tight grip over many if not all of its countries. Therefore it is very difficult to say that democracy has come on in leaps and bounds since 1945 when as crucial a factor as corruption is still such a plague to the region. Another factor when looking at democracy in the continent is the level of education. People must be aware of the fact that there is more than one option in a democracy. It is also crucial that the population of a country understands the concept of propaganda. A democracy can only work in a country with a certain level of education otherwise it can easily be classed as brainwashing, especially with the level of influence that the media can have over an ill-educated population. An example of what a lack of education can do in a democracy is that during the elections in which Chavez was voted in, he very nearly missed out on the appointment because his main rival was a former Miss Venezuela. The implication of this is that a worrying amount of the Venezuelan public didn’t vote for Chavez because there was a far better looking female alternative. Of course this could just be cynicism and she may well have had a very impressive manifesto and realistic yet progressive goals. During Chavez’ time in power though, he managed to substantially increase literacy along with reducing poverty by over half. Chavez had many positive effects on Venezuela, not least providing them with 14 years of stable rule. However his recent death has thrown the country off its feet and they are at risk of descending into political turmoil. Further examples of why Latin America was less democratic in 1945 include the fact that leading South American countries such as Columbia and Argentina had still not given women the right to vote. Universal suffrage is something that can be found in certain definitions of democracy for example Dahl’s and was definitely holding those countries back at that stage in their bid for democracy (Dahl 1971). To conclude, it is safe to say that Latin American countries are in a better overall place than in 1945 but that corruption in particular is holding them back. A country needs to be not only ready for democracy but also willing to accept it. It can definitely be argued that not all Latin American countries are ready for democracy but one final point may indicate that they are nearing acceptance of it. This is that something the Latin Americans care greatly about is their national identity, an idea that is very closely linked to democracy. Therefore with the rapid increase in globalisation endangering this coveted national identity, South American countries are rapidly warming to the idea of being democratic. Bibliography: Charles H. Blake Stephen D. Morris (1999), Corruption and Democracy in Latin America, published by the University of Pittsburgh Press. * R. A. Dahl (1971), Polyarchy: Participation and Opposition, published by Yale University Press. * Alan Doig and Robin Theobald (2000), Corruption and Democratization. * S. M. Lipset (1959), Some Social Requisites of Democracy, Economic Development and Political Illegitimacy. * A. Przewor ski (2000), Democracy and Development: Political Institutions and Well-being in the World 1950-1990, Cambridge University Press. How to cite Is Latin America a More Democratic Place Today?, Essay examples

Collapse of the ABC Learning Centre-Free-Samples for Students

Question: Critically assesses Issues of Auditing Surrounding the Collapse of the Business Concern ABC Learning. Answer: Executive Summary: The current study critically assesses issues of auditing surrounding the collapse of the business concern ABC Learning. This helps in comprehending the issues and helps in learning lessons that might help in identifying the gaps in auditing. Moving further, this leads to the development of new standard of auditing ASA 701 that if were applied before could have averted the collapse of the firm. In addition to this, this study also helps in gaining deep understanding regarding analysis as well as usefulness of the auditing standard ASA 701. Introduction The AUASB issued the auditing standard ASA 701 that shows the level of commitment to conformity with the current enhancements and modifications to audit reporting designed by the International Auditing and Assurance Standards Board. This study helps in understanding that auditing standard takes account of authorizing the communication of KAM in the reports of the assessor and enables auditors of other business units to decide whether to take in KAM in the report of the assessor. Furthermore, this study helps in analytically gaining understanding as regards auditing issues surrounding the collapse of the firm ABC Learning Centre. In addition to this, this study also carries out a detailed analysis of the issues related to the development of novel accounting standard ASA 701 Communicating Important Audit Matters in the Independent Auditors Report. Consequently, important audit materials are required in the audit report to different members of ABC Learning Centre. Moving further, the st udy helps in analysis of accounting standard ASA 701. Analysis of the collapse of the ABC Learning Centre Study of the background of the collapse Analysis of reports on collapse of the firm ABC Learning Centre reveals the fact that the external assessors of the firm ABC that is the Pitcher Partners delivered unqualified opinions since the appointment during the year 2003. Nevertheless, after the appointed auditor left during 2007, new assessors Ernst Young presented a very diverse opinion regarding the profits of the firm formerly mentioned by the management of the firm in the account statements. In addition to this, the board also called KPMG as a third party in a bid to settle the variances between the two different assessors. Detailed study of the operations of ABC Learning reveals that ABC was co-established as a childcare unit by Edmund Grooves and his wife. Previously, childcare units in Australia were primarily not-for-profit organizations backed by government subsidies. However, during 1996, management of ABC operated around 18 care units and became a chief player in private childcare segment in Australia. During this period, the Australian government arrived at the decision to provide the subsidy directly to the families that in turn generated potential for higher rate of growth. Consequently, ABC seized the golden opportunity and arrived at decisions of expansion by acquirement of properties in different prime locations and purchasing out individual daycare centre with smaller childcare units. During the year 1999, the company owned 30 units. Again, during the year 2001, ABC got listed in the Australian Stock Exchange, providing it the opportunity of attainment of further growth in capital. However , the company attained growth at an exponential rate after undergoing the process of listing, along with the corporation nearly doubling the entire operations every year (William Jr et al. 2016). As such, by the end of the year 2005, the company acquired around 660 units in Australia and initiated overseas ventures during 2006. However, at the time when the corporation was listed, the market capitalization of the firm was at about AUD 25 million. Consequently, ABC became pear shaped and the company ABC became overwhelmed by the repayments of debt and had to market around 60% of the US subsidiary along with the entire UK auxiliary segments. Thereafter, it was lastly traded at AUD 0.54 and thereafter was delisted from the A UX. Primarily; the primary criticisms were made regarding the business model, diverse accounting practices, hostile acquirement, capital expenditure, business leverage together with weak operational flow of cash (Simnett et al. 2016). Essentially, it can be said th at these can be considered as the contributing factors that led to the collapse of the firm ABC Learning. Accounting and Auditing Issues Recognized Several accounting and auditing issues can be recognized in this regard. Acquisitions of ABC led to the recognition of licenses of operations of childcare centers along with huge amounts of goodwill. All these two can be considered to be intangible assets presented at the fair value in the balance sheet. Assessment of financial reports revealed the fact that the goodwill of the company increased to around AUD 271 million and licenses to AUD 2.4 billion during the period 2007 and 2008. Nevertheless, charges of the impairment for the intangibles were roughly AUD 2 million for specifically goodwill and AUD 8.4 million for license for childcare. Particularly, it can be hereby mentioned that intangible assets mainly become worthless at the time when a corporation runs into difficulty (Messier et al. 2014). As per Phillips Ross, chief of the school of accounting at the University of Western Sydney it can be said that profits of ABC amplified swiftly by means of acquirements that again coul d have raised questions as regards underlying asset valuation that it obtained- particularly provided 70% of the assets were intangible. In addition to this, inherent risks related to valuation of asset were massive. During the period 2006, anonymous criticism was raised and concerns were associated to the Australia Securities along with the Investment Commission regarding the valuation of childcare licenses of ABC. Again, the complainant also mentioned that majority of the value generated was founded completely on the net cash flow during the future of the corporation (Knechel 2016). In essence, this might possibly or might not be realized and approximated that between the period 2001 and the year 2005, the company ABC generated more around AUD 390 million in gains by means of revaluation of the licenses. It can be said that audit failures also added to the collapse of the firm. The external assessor of the firm ABC Pitcher Partners provided ABC unqualified viewpoints since their appointment during the year 2003. Nevertheless, after the resignation of Pitcher Partners during the year 2007, the new assessor Ernst Young provided a totally diverse opinion regarding the profits mentioned in the acc ounts (Louwers et al. 2015). However, KPMG was also appointed by the board. Reports Presenting Audit Failures that surround the collapse of ABC Learning Centre As per report published by the Sydney Morning Herald, three different assessors counting two of the largest names in the business examined the account exercises of ABC Learning. Again, KPMG also could not locate mistakes with two materially different viewpoints provided by diverse auditors of the company (Knechel and Salterio 2016). However, the findings have not been divulged publicly, nevertheless, the Groves expressed it clearly that KPMG could not locate the mistakes. Thus, it can be said that three diverse audit corporations including even two of the biggest names in the business examined the account practices of the firm ABC Learning. Although KPMG could not locate mistakes within two materially divergent viewpoints presented by two different auditors, one of the audit corporations appropriately diagnosed the miserable condition of the firm. Furthermore, the total liabilities of the firm ABC almost remained reasonably constant. Nevertheless, during the period December 2007, app roximately AUD 1.1 billion of borrowings was re-categorized from specifically current to diverse non-current liabilities owing to refinancing. Again, the lenders of the firm ABC contained different leading banks (Elder et al. 2011). During the period June in the year 2007, the firms ABC confirmed a syndicated multi-alternative bank capacity for approximately AUD 1.48 billion of firms borrowings. Issues that led to the development of the new auditing standard ASA701 Analysis of financial assertions ABC could develop adequate operating cash flows in a bid to pay interest, wages as well as salaries along with dividends. Even though profits of the firm increased progressively over the past few years, there have been the several cases of corporations that have failed on the backdrop of specifically positive earnings and profit along with the negative operational flow of cash (Eilifsen et al. 2013). Again, it emerged that Grooves along with other directors of the company ABC had assured their shares to acquire money. According to the reports, it can be said that since the price of the share escalated, they were compelled to sell all the shares that is equivalent to roughly 5.6% of the corporation to satisfy the entire margin call provided by the corporation. In addition to this, analysis of the business case of ABC Learning shows that forced sell of shares had immense influence on the stock price of the corporation. The study thus helps in understand ing the fact that all kinds of corporate collapses have certain similarities as well as variances (Cohen and Simnett 2014). Nonetheless, similarities from the perspective of issues that led to the collapse of the firm ABC are considerably significant. The scope of the auditing standard ASA 701 helps in understanding the basis of development of the same. However, comparison to auditing issues encountered in the corporation ABC Learning also helps in understanding the reason for the development of the accounting standard. Analysis of business case on ABC Learning divulges the fact that improper communication by the audit partners of the firm led to the collapse of the firm. Arens et al. (2013) asserts that the scope of the accounting standard ASA 701 helps in dealing with the accountability of the assessor and this helps in communicating important audit matters in the report of the auditor. Again, it is intended to deal with the judgment of the assessor as to what can be communicated in the report of the assessor. Arens et al. (2016) also adds that the accounting standard ASA 701 also helps in enhancement of the entire communicative value of the assertion of the auditor. This in turn can help in delivering greater amount of transpar ency as regards the assessment that was undertaken. Communication of particularly key matters of audit thereby delivers supplementary information to specific users in assessing the business entity along with different areas of important corporate judgment in the specific audit reports of the corporation. In addition to this, the scope of this specific accounting standard ASA 701 also elucidates the fact that the communication of important audit matters in the assertions of the audit assists in forming an opinion regarding the financial reports on the whole. Again, communication of important audit matters in the assessors audit that the appropriate financial reporting structure. Furthermore, auditing standard is also applicable to the processes of audit of different general purpose financial reports of diverse listed business entities at the time when the assessor decides to communicate diverse important audit matters in the report of the auditor. Thus, it can be said that business c ase on ABC Learning also helps in comprehending the negative effects of improper communication and ill effects of unqualified opinions (Arens et al. 2012). This lesson learnt from the case on collapse of ABC Learning leads to the development of the accounting standard ASA 701 that can help in rectification of errors created by improper communication. Evaluation of the usefulness of ASA 701 There are things that need to be divulged in the audit account to members of ABC Learning Centre in case if the new auditing standard ASA 701 had been implemented before collapse. Adherence to accounting standard ASA 701 can thereby aid in determination of important audit matters, essentially those matters that necessitated attention of the assessor in carrying out the assessment. As per paragraph 9 of ASA 701, this accounting standard takes into account diverse areas of high amount of examined risk of material misstatement or else important risk detected as per the ASA 315 (Arens et al. 2017). In addition to this, this accounting standard ( according to paragraph A 23 to A24) of ASA 701 also considers important judgment of the assessor associated to financial declarations that involved important judgment of the management counting accounting approximations that have been recognized as having higher approximation uncertainty (Auasb.gov.au 2017). Furthermore, the influence of assessme nt of important events or else transaction that took place during the phase is also taken into account as per the directives of the accounting standard ASA 701 (presented in the paragraph A 25 to paragraph A 26). The assessor also need to determine diverse matters determined as per paragraph 9 of ASA 701 that is significant in the assessment in the process of assessment of financial reports of the firm and thereby the important audit matters (according to A 9 to A 11 along with A 27 to A 30) (Auasb.gov.au 2017). Particularly, analysis of business case on collapse of the ABC Learning reveals the issues associated to improper detection of material misstatements that led to inappropriate determination of important audit matters. Thus, compliance to the auditing standard ASA 701 can thereby help in incorporating key factors as stated above for determination of key matters of audit. Consequently this help in detection of risk of material misstatement, inappropriate accounting approximations and proper inclusion of important events. Thus, the business issues faced in case of ABC Learning points out towards the needs for the development of the accounting standard. In addition to this, lessons learnt from the business case on ABC Learning also reflects the need for not only determination of key audit matters and but also proper communication of professional judgments. The unqualified opinion by the auditors of ABC therefore reflects the need for the design as well as development of ASA 701. ASA 701 (referring to paragraph 14 and paragraph 15) mentions that there are audit matters along with necessity of professional judgement that is of huge importance in the process of audit of pecuniary assertions. Again, this standard also helps in properly addressing diverse matters in the specific context of audit of financial declarations and in developing an opinion of auditor (as per paragraph A 31 to A 33) (Auasb.gov.au 2017). In addition to this, ASA 705 also refers to matters that give rise to modified estimation or material uncertainty associated to diverse events or else conditions that might cast considerable doubt on the capability of the business unit to continue as a going concern. These are not present there in the requirements of paragraph 13 to 14 of this specific auditing standard. Thus, reports on these matters can be presented as per Australian Auditing Standards and incorporated as a reference to the (Basis for Qualified Opinion) (Auasb.gov.au 2017). Conclusion In conclusion, it can be said that unqualified opinions by different accounting and auditing firms can be challenged in the after different corporate scandals such as that of the collapse of ABC Learning. The study also helps in understanding Particular failures of financial institutions during the period of global financial crisis that led to difficulties owing to the unqualified opinions of the accounting firms. Additionally, the current study also assists in comprehending the issues that led to the failure of business and consequent collapse of the ABC Learning. Thus, the lessons learnt from the provided business cases helps in gaining understanding regarding factors that lead to the development of the ISA 701. This subsequently describes diverse important audit matters and explains significance of audit in the financial assertions of the present period as per the personal judgment of the assessor that can avert business failures. Recommendation Analysis of the business case on ABC Learning shows the importance for carrying on communication with the ones charged with processes of governance. Therefore, management of firm might have considered matters that auditors need for determination of important matters of audit. Audit documentation can also be regarded to be very significant for determination of Audit matters along with communication of reports of audit (paragraph 15 of ASA 701). 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