A Beginners Guide to the Neolithic Period

The Neolithic period as a notion is based on an idea from the 19th century, when John Lubbock split Christian Thomsens Stone Age into the Old Stone Age (Paleolithic) and New Stone Age (Neolithic). In 1865, Lubbock distinguished the Neolithic as when polished or ground stone tools were first used but since Lubbocks day, the definition of Neolithic is a package of characteristics: groundstone tools, rectangular buildings, pottery, people living in settled villages and, most importantly, the production of food by developing a working relationship with animals and plants called domestication. Theories In archaeological history, there have been many different theories about how and why agriculture was invented and then adopted by others: the Oasis Theory, the Hilly Flanks Theory, and the Marginal Area or Periphery Theory are only the most well-known. In retrospect, it does seem odd that after two million years of hunting and gathering, people would suddenly start producing their own food. Some scholars even debate whether farming—a labor-intensive task which requires the active support of a community—was really a positive choice for hunter-gatherers. The remarkable changes that agriculture brought to people are what some scholars call the Neolithic Revolution. Most archaeologists today have abandoned the idea of one single overarching theory for the invention and cultural adoption of farming, because studies have shown that circumstances and processes varied from place to place. Some groups willingly embraced the stability of animal and plant tending while others fought to maintain their hunter-gatherer lifestyle for hundreds of years. Where The Neolithic, if you define it as the independent invention of agriculture, can be identified in several different places. The main hubs of plant and animal domestication are considered to include the Fertile Crescent and the adjacent hilly flanks of the Taurus and Zagros mountains; the Yellow and Yangtze river valleys of northern China; and central America, including parts of northern South America. Plants and animals domesticated in these heartlands were adopted by other peoples in adjacent regions, traded across continents, or brought to those people by migrations. However, there is increasing evidence that hunter-gatherer horticulture led to independent domestication of plants in other locations, such as Eastern North America. The Earliest Farmers The earliest domestications, animal and plant (that we know of), occurred some 12,000 years ago in southwest Asia and the Near East in the Fertile Crescent of the Tigris and Euphrates Rivers and the lower slopes of the Zagros and Taurus mountains adjacent to the Fertile Crescent. Sources and Further Information Bogucki P. 2008. EUROPE | Neolithic. In: Pearsall, DM, editor. Encyclopedia of Archaeology. New York: Academic Press. p 1175-1187.Hayden B. 1990. Nimrods, piscators, pluckers, and planters: The emergence of food production. Journal of Anthropological Archaeology 9(1):31-69.Lee G-A, Crawford GW, Liu L, and Chen X. 2007. Plants and people from the Early Neolithic to Shang periods in North China. Proceedings of the National Academy of Sciences 104(3):1087-1092.Pearsall DM. 2008. Plant domestication. In: Pearsall DM, editor. Encyclopedia of Archaeology. London: Elsevier Inc. p 1822-1842.Richard S. 2008. ASIA, WEST | Archaeology of the Near East: The Levant. In: Pearsall DM, editor. Encyclopedia of Archaeology. New York: Academic Press. p 834-848.Wenming Y. 2004. The Cradle of Eastern Civilization. pp. 49-75 in Chinese Archaeology in the Twentieth Century: New Perspectives on Chinas Past, Volume 1. Xiaoneng Yang, editor. Yale University Press, New Haven.Zeder MA. 2008. Domestication and e arly agriculture in the Mediterranean Basin: Origins, diffusion, and impact. Proceedings of the National Academy of Sciences 105(33):11597-11604.Zeder MA. 2012. The Broad Spectrum Revolution at 40: Resource diversity, intensification, and an alternative to optimal foraging explanations. Journal of Anthropological Archaeology 31(3):241-264.Zeder MA. 2015. Core questions in domestication research. Proceedings of the National Academy of Sciences 112(11):3191-3198.Zeder MA, Emshwiller E, Smith BD, and Bradley DG. 2006. Documenting domestication: the intersection of genetics and archaeology. Trends in Genetics 22(3):139-155.

The Tragic Hero of The Crucible by Arthur Miller Essay

The Tragic Hero of The Crucible A tragedy should bring fear and pity to the reader. A man in this tragedy should not be exceptionally righteous, but his faults should come about because of a certain irreversible error on his part. This man should find a bad or fatal ending to add to the tragedy of the story, for this man in the tragic hero. The protagonist John Proctor portrays a tragic hero in The Crucible; his hamartia of adultery causes great internal struggles, he displays hubris by challenging authority, and he encounters catastrophe through recognition and reversal. John Proctors decision to betray his wife causes internal struggles and ultimately leads to his catastrophe at the end of the drama. Hamartia†¦show more content†¦Proctor?s hamartia of adultery indirectly causes his jailing and gives him the reputation of a liar. The court views his real truth as a lie and believes he defies authority. Although John Proctor does not truly defy authority in this scene of the play, for he tells the truth and his wife lies, he challenges control in many other instances. John Proctor exposes hubris through his hate of Reverend Parris. Hubris is placing ones self equal to authority or to God, and it is a necessary trait of the tragic hero. John Proctor proclaims that he does not go to Church, an act the court and townspeople view as a revolt on the supremacy of God, because the Reverend Parris is corrupt. Parris is greedy and cares more about the sake of his reputation that the health of his own daughter. Proctor resents the Church because Parris runs it. In the eyes of officials, this casual negligence of God turns Proctor into an unchristian, sinful rebel. Though Proctor?s reasons for disregarding the Church are quite reasonable, people do not accept them in this time of devils and evil. The tragic hero not only places himself as an equal of God, but as an equal of court authority as well. John Proctor insults the court by tearing up a search warrant, and officials later accuse him of trying to overthrow the court because of his controversial eviden ce against Abigail and the girls. When Herrick and Cheever appear at the Proctor home to capture and take awayShow MoreRelated John Proctor is a Tragic Hero in The Crucible by Arthur Miller688 Words   |  3 Pagestimes of the ancient Greeks, tragic heroes have been used to enhance the meaning of a play or literary work. Any character cannot be described as tragic hero. Several key characteristics are necessary for the tragic hero to possess in order to be characterized as such. He must be high-ranked or have a high standing in the community. He must have a weakness or a tragic flaw and be involved in a struggle. In the end, that struggle will lead to his downfall. Arthur Miller purposely incorporates theseRead MoreThe Tragic Hero, John Practor, in The Crucible by Arthur Miller686 Words   |  3 Pages John Proctor The Crucible by Arthur Miller is set in Salem in a Puritan community. John Proctor had everything the average puritan could ever want: a farm to ceaselessly toil upon, three sons to discipline, and a wife to spend his life with. Proctor was a guy that wasn’t afraid to speak his mind and throughout Salem he was respected and honored for it. But John wasn’t the perfect man either he had betrayed his wife and committed adultery. John Proctor is the tragic hero because he is loving,Read MoreEssay The Tragic Hero in The Crucible by Arthur Miller913 Words   |  4 PagesThe Crucibles Tragic Hero A tragic event should bring fear and pity to the reader and the hero should be courageous and noble, hence when combined a tragic hero is presented. The protagonist, John Proctor, portrays a tragic hero in The Crucible. 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John is a candid, frankRead MoreThe True Tragic Hero: The Crucible’s John Proctor Essay1044 Words   |  5 PagesThe true tragic hero: The Crucible’s John Proctor A tragic hero is a noble man who commits a fatal flaw. The hero’s downfall is a result of their choices which leads to a punishment that exceeds the crime. â€Å"The difference between Proctor and Willy Loman is enormous; the former is the rather typical tragic hero who is defiant to the end, the latter is trapped in submission and is living a lie† (McGill 4). John Proctor is one of the main characters in The Crucible. he is married to Elizabeth ProctorRead MoreJohn Proctor as a Tragic Hero in The Crucible850 Words   |  4 Pagesplay by Arthur Miller The Crucible, the town of Salem is in pandemonium under the non-existent threat of witchcraft. Every character is either lying to save their lives or to end others, or dying for not admitting to a lie. 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In Greek drama, a tragic hero is defined as â€Å"a great or virtuous character in a dramatic tragedy that is destined for dow nfall, suffering, or defeat.† No character in The Crucible fits thisRead MoreJohn Proctor as Tragic Hero of Arthur Millers The Crucible Essay798 Words   |  4 PagesJohn Proctor as Tragic Hero of Arthur Millers The Crucible In the play, The Crucible, by Arthur Miller, John Proctor fits the classic Greek definition of a tragic hero.   Aristotle, one of the great Greek philosophers, teachers and writers, stated that one of the most important aspects of a tragedy was the tragic hero.   He defined a tragic hero as a noble person that goes from a state of fortune and happiness to a state of utter misery.   The character’s tragic flaw causes this changeRead MoreCompare And Contrast John Proctor In The Crucible773 Words   |  4 Pages The Crucible by Arthur Miller, is a play written to mirror the anti-communist hysteria and how Joseph McCarthy went on â€Å"witch hunts†, which was basically finding an innocent person who was accused of being a witch and punishing them. 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Perceptions of health risk and smoking habit in young people Free Essays

string(53) " If alcoholics stopped drinking they do seem to die\." Young people are also more likely to start mocking If their friends or family are smokers. The present study Is a quantitative research with young adult smokers (at the xx Learning Centre) based on focus group discussions where a range of smoking-related topics were covered. 2. We will write a custom essay sample on Perceptions of health risk and smoking habit in young people or any similar topic only for you Order Now Sample The sample in this study included 6 males and 4 females, aged between 13 and 17 years, 7 smokers and 2 non-smokers. Of this group of adolescents only 2 parents are non-smokers. My aim was to maximize variation in our sample to include young men and women, smokers and non-smokers, and different age categories. My discourse analytic perspective here concentrates on talk between speakers and allows me to highlight how meanings around smoking and health are worked up. Debated and disputed in the group. Informed consent was obtained from each participant prior to the Focus group interview (Appendix A and B). The focus group took place in the â€Å"Unanimous† Learning Centre. For anonymity reasons the name of the participants have been changed. 3. Procedure In this study we used two focus groups of five participants each. Focus groups mimic ‘natural’ peer groups, so that the data will likely be authentic, rich and Informative. Focus groups have long been used In social science research, Including psychology (Crossly, 2000; Wilkinson, 2003), and can be particularly useful in identifying both diverse individual accounts and prevailing social factors which influence and constrain actions. In the context of young people and smoking, focus group research allows us to gain access to the multiplicity of perspectives presented and will also illuminate how accounts are constructed and negotiated within peer groups. Participants were given a number of prompts about their views on smoking, such as Please tell me why you believe you started smoking’ and ‘Please tell me what role you believe smoking/not smoking plays in your life’. Participants were encouraged to discuss these views among themselves, with minimal input from the facilitator. The discussion, which lasted around forty minute for each group, was recorded and then transcribed verbatim. 4. Analysis Health was generally not cited as a major concern for our young people, and was not participants seemed much more concerned with the financial burden engendered by smoking. When the topic of health risks was brought up, there was a general tendency o downplay or discount these. Moreover, it was claimed that smoking could function effectively as a form of stress relief, even when the stress is engendered by exposure to smoking-related health scares, either in the media or within families. The two discursive patterns are formulated as follows: ‘ Everything is bad for you now: Contesting smoking-related health risks ‘It does make you feel better’: Smoking as stress-relief 4. 1 . ‘Everything is bad for you now: Contesting smoking-related health risks Contesting smoking-related health risks arioso strategies were deployed which endured the health risks linked to smoking as exaggerated, a ploy which clearly works to rationalist and uphold current smoking – a way of misusing the self from the specter of illness and mortality. For example, other mundane practices are cited which involve risk, and life itself is presented as saturated with risk: Nicola – Mimi like to think yourself that you’re not going to get cancer, I mean, they’re saying that cancer is caused by all these different things 0 1 mean who’s to say that smoking is definitely the worst one? † In this excerpt there is some recognition of risk but then other organogenesis are alluded to and the dedicated link between smoking and cancer is undermined (Whoso to say? ). Thus, smoking is construed as nothing special, Just one of any number of possible causes of cancer (so many things’), and therefore not worthy of disproportionate attention. E. Generalizes the notion of risk – ‘everything is bad for you now – so that living per SE becomes inured with risk, something that affects ‘everyone’. Note the extreme case formulations which litter this extract: ‘ all these different things’; ‘So, smoking is part of life and is practiced with care. Facilitator: So, are health concerns an issue? Simon: Well, yeah. Not really, I suppose, because sometimes you feel like crap because your lungs are hurting, because you’ve been caning it all weekend, but you think, well you might give up smoking, give up drinking, give up anything – and then get knocked down by a bus, but 0 if you’re going to stop everything that you enjoy, well what’s the point of living forever? You know what I mean? Aaron: But don’t you, sometimes you Just think Well, what’s the point of it? You’re Just breathing in horrible smoke into your body Simon: It’s like what’s the point of drinking? It’s fun! The health risks of smoking are conceded, with reference to current, minor symptoms. However, smoking is likened to other pleasurable activities (e. G. ‘drinking’) and anything/’everything you enjoy so that living is defined in terms of enjoyment over risk, the emphasis is on fun’ and not denying oneself gratification – even if it means a shorter life-span or inhaling ‘horrible smoke’. Bob: A guy, a guy I went to school with was cross country champion for our county, and he used to smoke like twenty a day [laughs] He used to smoke loads of weed and that, and he used to run for ages [laughs] (. You see someone like that, it’s Just like, whoa! So, citing cases, where smoking has not impeded sporting performance, undermines claims about the deleterious health consequences of smoking and helps Justify continued smoking. The case of the cross-country champion cited by Bob is also interesting because impressive, and further contesting the connection between smoking and not being healthy. Lucas I knew somebody who used to smoke ten a day when they were about eighty-odd and have a glass of brandy every day 0 and when they got put in a nursing home they took it all off her and within weeks she were dead. Tara: It’s like alcoholics, isn’t it? If alcoholics stopped drinking they do seem to die. You read "Perceptions of health risk and smoking habit in young people" in category "Papers" In this extract, the dangers of stopping smoking are emphasizes, thereby inverting the ‘normalizing about taking up or continuing smoking. Facilitator: What are the health worries you might have about smoking? Bob: Cancer David: None, ‘coos I know a guy that lived until he was 23 and Just dropped dead. He didn’t smoke and didn’t drink. You know, the way I see it, you only live once – you might as well do it, haven’t you. Here Bobby’s immediate response concerning health fears is not taken up as the others proceed to reject this pre-occupation. David immediately invokes the case of a non-smoker who died suddenly as a means of challenging the link between smoking and ill-health. The randomness of life then becomes a key theme, which again works to rationalist current smoking. As one participant put it: ‘it Just shows that you’re having a good time, you know, drinking and having a cigarette, and it Just kind of ties in together’ (Kate). Here, smoking (and drinking) is inextricably tied to enjoyment, an automatic indicator of ‘good times’. 4. 2. ‘It does make you feel better’: Smoking as stress-relief A very predominant theme cross all discussions was the benefits of smoking in terms of stress relief, arising from various sources: Tara: It does make you feel better when you’ve been sat there and you’ve Just been in class, and you Just think ‘Oh, I’m going to go for a bag, and you go down and you have it, it does give you some kind of buzz, because it does definitely chill you out a bit, doesn’t it. Rachel: It gives me a couple of minutes and just chills me out, like if something that had upset me, like my family, Vie been thrown out of my house and that’s the reason why I started smoking a lot more because of more stress and stuff. I do think that having a cigarette makes me relax a bit. Tara: At the moment I don’t want to [stop smoking] because I do see smoking as helping me chill out a bit – I mean, if I didn’t I’d be a tiger! Rachel: Vie actually been told by my doctor not to stop smoking – he says its got anger management, it calms me down. Both participants point to the grim consequences of not smoking I. E. Uncontaminated irritability. Earache’s claim is warranted with reference to an authoritative source (a medic), which is culturally garnished with expertise. Rachel: Yes, that’s the reason I first started smoking again, because I’d stopped smoking for so Eng and my dad gave up smoking, and my dad’s been smoking since he was twelve, and he stopped for six month and then he had a heart attack. You would expect that to make me think ‘Right, need to stop smoking, or whatever, but straight away I went ‘Mum, give us a bag, because I honestly didn’t know what to do and I needed something to concentrate on – it gives you something to think about other than what’s going on around you. In summary, smoking is popularly constructed as a positive resource in times of stress, whether provoked by , arguments with friends and family, school, and paradoxically , exposure to smoking-related disease within families. 5. Conclusions smokers since, from the focus groups shows that smoking is understood as a rational choice (rather than, say, addiction) conferring benefits (stress relief, enjoyment). This finding is in line with other research on ‘alternative rationalities’ (Crossly, 2000) with adult smokers. However we should take in consideration that the qualitative research literature on smoking deploys a range of methods while in this study we analyze the young people smoking practices within a social (focus group) context. Smoking is explicitly linked to pleasure and relaxation (often tied to drinking contexts – see also Johnson et al. , 2000). Our participants also link other lifestyle practices to risk and they see life itself as a risk where preoccupation with smoking-related or any other problems is deemed excessive and paralyzing. To some extent, it is fair to say that our sample construed risky smoking as necessary to cope with their family/friends/ environment pressure. Overall our analysis points to the various ways in which the young smokers skillfully deflect the concerns of a health-conscious culture. It gaslights how, in a period of increasing pressure on smokers to quit, the young people in our focus group have created a series of complex and creative accounts to defend and preserve what is clearly perceived as an important social practice. Surely our young smokers are expressing ‘unrealistic optimism’ (Weinstein, 1984), that is ‘inaccurate’ perceptions of risk and susceptibility in relation to smoking and illness. For example some participants claimed that major health problems have not yet appeared (e. G. Current health is emphasizes) and that illness can be avoided by individual action (I. E. Tinting smoking in the near future). By contrast, psychosocial research, which conceptualizes smokers’ talk, helps us to appreciate how smoking is rationalized within relevant social groups (in this case young adults in educational settings), as well as highlighting the creativity and sophistication of lay accounts. In turn, attention to the grounded disc ourse of smokers may well help inform more effective health promotion interventions (Crossly, 2000). To build on the current analysis, future work could include ‘street’ interviews with young smokers in the public places where smoking is popularly practiced (e. Designated smoking areas at university, in pubs). This ‘live’ context might prove especially illuminating in terms of the discourses reproduced with respect to how smoking is defended while people are engaged in the act of smoking. As well, it would be informative to examine patterns of naturally occurring conversation between young adult smokers where they gather. Such research would complement our focus group study by determining when and how health is introduced as a concern by younger people themselves and examining how such concerns are negotiated. How to cite Perceptions of health risk and smoking habit in young people, Papers

Historical Cost Accounting and Systemic Risk

Question: Discuss about the Historical Cost Accounting and Systemic Risk. Answer: Introduction: According to Jack (2015), the economic and the accounting definition of fair value states, that the fair value is any value estimated at market price, expected to be received from the selling of an asset or to be transferred as a liability in a particular point of time. The concept is not new in nature it was primarily developed to overcome the deficiencies in the historical cost accounting technique. The system was aimed to present the assets and the liabilities based on current market price in the financial reporting rather than exhibiting them as an item of acquisition cost. This method was particularly used to maintain and disclose the financial statements based on the fair valuation of assets and liabilities (Nber.org., 2016). The method was particularly useful for countering the negative effects of inflation and changes in the value of currencies over the years. This was particularly evident during the global financial crisis in the year 2008. In the traditional financial reporting method, the fair value was not possible to be determined. For example if the company has purchased 2 acres of land for an amount of AUD 75,000 15 years back. The different company has purchased another 2 acre of land situated beside the earlier land but for an amount of AUD 100000. In case the company where following historical costing method the first company is observed to show a less amount of asset than the latter although both the lands have same amount of area and located at the same place. In order to address this type of issues fair value accounting method was introduced and this was particularly evident to tackle debacles during the global financial crisis (GCF) (Magnan et al., 2015). According to Greenberg et al., (2013), the global financial crisis has identified that fair value accounting has lost its necessary benefits as the prices of the active markets they are not available. This situation had made a complex vision making procedure for the companies in the assessment of fair values and hence modifications where implemented to make changes in the implemented details. Although it was observed that fair value accounting did not had any negative implications on GCF and it further provided the investors with an opportunity to know about the subprime positions office company. The fair value accounting system has a positive impact on BHP Billiton as over the years the company has been able to gain more confidence of the shareholders by presenting this particular disclosure in areas related to remuneration and financial derivatives. Although the negative impact has been seen by realizing a loss of USD 107 million through fair value accounting, which was unrealized, the previous years financial statements of the company (AASB, 2013). It was also observed that during the global financial crisis the SME and the banking sector did not suffer for writing of its assets or undervaluation of the same. It was further observed that banks, which were exercising a higher discretion in ascertaining the fair values, were also involved in presenting overvalued assets (Aasb.gov.au, 2016). Discussion For showing the importance of fair value, treatment the chosen company is BHP Billiton Limited. This particular business is observed to have a high amount of noncurrent assets and as per the sedation given by IFR is this type of business needs to revalue its asset on regular basis. As per international financial reporting standards the involvement of the risk of impairment losses, possibility of gain by devaluation and capital assets plays a vital role in mining industry. Hence, for a fair demonstration of the financial statements the evaluation or impairment of the assets should be shown wherever necessary. It is also important to understand that the concept of fair value accounting stands on it three tier hierarchy. The first tier shows the most accurate measurement related to the fair values in the active market (Beisland Frestad, 2013). The second tire is categorized based on those assets where the distinguishable prices are unutilized or the active markets are absent. The third tire is categorized as the assets where there is absence of significant amount of input and it is done using the internal anticipation method and internal models of the evaluation process (Bischof et al., 2013). The principle of fair value treatment highlights on the importance of measurement process and time required to evaluate the assets and liabilities of a particular company at a fair price. Particular standard is essential for segregating measurement process of equities, assets and liabilities. In a mining company like BHP Billiton, it is also useful for providing guidance for different types of non-financial assets such as equipments, machinery and vehicles used for transportation of the coal. Some of the pros of fair value accounting, with relevance to mining industry such as BHP Billiton Limited includes addressing of noticeable up for it or downward activity in the market value of the competitors. Fair value is helpful in determining the proper price of the items during inflation arising from the estimated prices of the future products. It is also helpful when there is a major change in the foreign exchange rates and manufacturing costs of the raw materials. With relevance to minin g industry, fair value treatment is particularly useful for determining the highly valuable capital projects and in developing of existing acquisition and construction of the mines. This particular method is used to determine that diminution in the volume of minerals of the reserves in the coal mines. This is particularly helpful when there are significant alterations in the interest rates and changes in the government policies, social changes and various types of environmental laws (Christensen Nikolaev, 2013). The cons of fair value accounting, is often seen with managers who use this method for personal benefit. In several cases it has been observed that managers select market prices for the items which can show the forms profitability higher than actual. The various cases the fair value of expenses related to the assets are often ignored or not considered. This makes the asset look more profitable which is actually untrue. With respect to mining company such as BHP Billiton, the stocks and investments are dynamic in nature and fluctuate rapidly in a short period. In such a situation the fair value computation becomes complex in nature and accuracy is not ensured. Due to this problem, the company often ends up exhibiting higher value asset in a particular instance and in the next moment, this leads to financial loss. The annual report of BHP Billiton Limited mainly states the treatment of fair value accounting in the changes in the derivatives of the company. The annual report also states that a desirable knowledge of both intrinsic values and technical requirements of the individual customers is reflected through the fair value of its products. The annual report of BHP Billiton clearly states that the remuneration provided by the company produces 41% of the face value from the fair value amount. This is a significant point to be considered as an importance of fair value disclosure of the company. The fair value adjustment and disclosure done by individual committees and assess the known as Kepler Associates (Lee Park, 2013). The annual report of the company clearly states that the fair value treatment is shown in the long-term incentive scheme. The long-term incentive scheme computation of fair value is done based on multiplication of its value of the award with the fair value factor of 41% as per the present design of the plan. The company further disclosed that the property plant and equipment has been recorded as the cost of contracted from the activated depreciation and the impairment charges. This particular cost is the fair value of the acquired asset at the time of acquisition and consideration and the company further states that this includes the direct cost of procuring the asset to the location and considering the future cost of closure of the same. The company has further declared that bill and the intangible assets have been also computed based on fair value accounting method (Bhpbilliton.com, 2016). The interactive corporate report of the company states that the fair value is not responsible for considering the forfeiture of conditions over the awards. The company's corporate report further suggested that it incurred a loss of USD 107 through fair value disclosure, which was unrecognized in the financial statement of 2013 and 2014. With relevance to the previously discussed levels of categorization of change and treatment of asset, BHP Billiton Limited is positioned at third tier of the hierarchy (Bhpbilliton.com, 2016). Conclusion The discussions mentioned in the report states the importance of exhibiting fair value in the financial statements of any organization. It has been further stated that surgical accounting method was not sufficient to adhere to the needs of financial reporting and hence fair value method was introduced. The various controversies and the arguments related to this method was addressed over the time by collaboration of Australian accounting standards Board with IASB, which resolved several issues pertaining to fair value accounting during the global financial crisis. The new standard of fair value accounting has provided the accountants report the financial items more accurately and present the statements with more uniformity. Reference List AASB, C.A.S., 2013. Fair Value Measurement Aasb.gov.au.(2016).Retrieved13September2016,fromhttps://www.aasb.gov.au/admin/file/content105/c9/AASB13_08-15.pdf Beisland, L. A., Frestad, D. (2013). How fair-value accounting can influence firm hedging. Review of Derivatives Research, 16(2), 193-217. Bhpbilliton.com.(2016).[online]Availableat:https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonannualreport2015_interactive.pdf?la=en [Accessed 13 Sep. 2016]. Bhpbilliton.com.(2016).[online]Availableat:https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonannualreport2015.pdf?la=en [Accessed 13 Sep. 2016]. Bischof, J., Daske, H. and Sextroh, C., 2013. Analysts demand for fair value-related information: evidence from conference calls of international banks. Rochester: doi: https://dx. d0i. 0rg/l 0.2139/ssrn, 2180896. Christensen, H. B., Nikolaev, V. V. (2013). Does fair value accounting for non-financial assets pass the market test?. Review of Accounting Studies, 18(3), 734-775. Greenberg, M.D., Helland, E., Clancy, N. Dertouzos, J.N. (2013). Fair Value Accounting, Historical Cost Accounting, and Systemic Risk. Rand Corporation. Jack, L. (2015). Book Review: Fair Value Accounting in Historical Perspective. Accounting Review, 90(2), 825-828. Lee, C., Park, M. S. (2013). Subjectivity in fair-value estimates, audit quality, and informativeness of other comprehensive income. Advances in Accounting, 29(2), 218-231. Magnan, M., Menini, A., Parbonetti, A. (2015). Fair value accounting: information or confusion for financial markets?. Review of Accounting Studies, 20(1), 559-591. Nber.org. (2016). Retrieved 13 September 2016, from https://www.nber.org/papers/w15515.pdf.