Essay on Analysis of Obamas Speech About Health Care Reform

It is amazing how one person’s hour long speech can change so many American views over our health care system. In 2008, Obama states that an average of 700,000 jobs were being lost per month (Obama). That means almost a million Americans were without a job! Obama later states in his speech that we are â€Å"the only advanced democracy on Earth that allows such hardship for millions of its people† (Obama). That statement is very true especially when it comes to health care issues. If Obama’s predicted outcome of his health care reform carries through, then millions of Americans will be greatly benefited. Obama gives an example in his speech stating â€Å"one in every three Americans goes without health care coverage at some point†Ã¢â‚¬ ¦show more content†¦That is just another perfect example on the average American going into debt due to the failing economy. My favorite statement that Obama makes is when he says â€Å"We spend one and a half times mor e per person on health care than any other country, but we aren’t any healthier for it† (Obama). No one could say that any better! That statement is very true, because America is said to be one of the most obese and unhealthy countries than any other. Many Americans want unnecessary operations and the obese individuals are eating so unhealthy so that in ten years they can go and have a gastric bypass surgery when they could have prevented that in their beginning stages of eating unhealthy foods. So, they will want a good health care provider to help cut the cost of that surgery down when they never should have needed it in the first place. Granted, some Americans can not control their diet; however, they could be seeing a fitness trainer or even a doctor before it gets so out of hand. In Obama’s speech, he talks about how this new plan will not insure any illegal immigrants, but only any American living here legally (Obama). After making this statement a member f rom the audience shouts out â€Å"You Lie!† but I feel quite honestly that he is making a 100% truth statement. There is a way to find out who is here legally and who is not and I believe there are ways doctors, insurance providers, etc. can prevent any illegal immigrant from benefitting fromShow MoreRelatedThe Affordable Care Act Or Aca Is A Federal Statute Initiated By President Obama Essay1582 Words   |  7 PagesThe Affordable Care Act or ACA is a federal statute initiated by President Barack Obama, its intended effects were to supply medical coverage at a low cost to millions of Americans who could not afford access to healthcare. There are a variety of economic and scholarly opinions regarding the ACA’s effect on the healthcare market. Many of these viewpoints have changed over the course of Obama’s presidency as the statute began to affect individuals and the healthcare market. When President Obama wasRead MoreEssay on President Obama’s speech at the University of Hartford 1792 Words   |  8 Pagesbroadcasting networks provided live coverage of President Obama’s speech, and a national audience listened as the president’s addressing the issues and the next steps forward for the country. The impact of this tragedy and previous massive shootings and Obama’s explanation have been a subject of a controversial debate. I plan on using the pentadic method to analyze President Obama’s speech regarding Sandy Hook and gun control. What we can learn about the method by using it to examine this particular artifactRead MoreAnalysis of the Leadership Style of President Obama3441 Words   |  14 PagesSummary President Barack Obama seems to be a transformational leader who wants to achieve a deep change and mobilises therefore a lot of followers. In his election campaign he had three principles: Respect! Empower! Include! He said â€Å"It’s not about me, it’s about you!†. The people felt attracted to Obama and were sure that he will be the perfect President. He received so many donations for his campaign like no president before in the history of the United Stated. He benefited from the big advantageRead Morerhetorical analysis of obamas political speeches5660 Words   |  23 PagesCritical Discourse Analysis of Obamas Political Discourse Juraj Horvà ¡th Abstract This paper examines the persuasive strategies of President Obamas public speaking as well as the covert ideology of the same, enshrined in his inaugural address. Our analysis is grounded in Norman Faircloughs assumptions in critical discourse analysis, claiming that ideologies reside in texts that it is not possible to read off ideologies from texts and that texts are open to diverse interpretationsRead MoreObama the Machiavellian3366 Words   |  14 PagesUnited States has witnessed how Obama has implemented his ideas of â€Å"change† on the United States; with deeper analysis of his â€Å"change† he has revealed similar qualities to Machiavelli’s ideal Prince. In the beginning of Obama’s campaign for presidency in 2008 he made the world believe â€Å"Yes We Can† change for the better. He emphasized how he would end the war in Iraq, alter heath care, cut taxes, increase jobs, increase environmental standards and decrease oil prices. Obama seemed to be virtuousRead MoreBill Clintons Health Care Plan5084 Words   |  21 PagesIndependent study | Bill Clinton’s Health Care Plan | [Ide à ­rhatja a dokumentum alcà ­mà ©t] | | | | [Ide à ­rhatja be a dokumentum kivonatà ¡t, amely rendszerint a dokumentum rà ¶vid à ¶sszefoglalà ¡sa. Ide à ­rhatja be a dokumentum kivonatà ¡t, amely rendszerint a dokumentum rà ¶vid à ¶sszefoglalà ¡sa.] | Content 1. Why did he try to change? Why was it necessary? 2.1. The way towrds the reform†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 2.2. Theodore Roosevelt†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 2.3. FranklinRead MoreAnalysis of the Leadership Style of President Obama3428 Words   |  14 PagesSummary President Barack Obama seems to be a transformational leader who wants to achieve a deep change and mobilises therefore a lot of followers. In his election campaign he had three principles: Respect! Empower! Include! He said â€Å"It’s not about me, it’s about you!†. The people felt attracted to Obama and were sure that he will be the perfect President. He received so many donations for his campaign like no president before in the history of the United Stated. He benefited from the big advantageRead MoreBarack Obama3987 Words   |  16 Pageschanges in response to the issues of health care and economic crisis. Early Life Obama was born on August 4, 1961, at KapiÊ »olani Maternity amp; Gynecological Hospital (now KapiÊ »olani Medical Center for Women and Children) in Honolulu, Hawaii, and is the firstPresident to have been born in Hawaii. His mother, Ann Dunham, was born in Wichita, Kansas, and was of mostly English ancestry. His father, Barack Obama, Sr., was a Luo from Nyang’oma Kogelo, Kenya. Obamas parents met in 1960 in a Russian classRead MoreA Linguistic Analysis of Obama’s Inaugural Address9492 Words   |  38 PagesRhythm and Rhetoric: A Linguistic Analysis of Obama’s Inaugural Address Liilia Batluk Supervisor: Stuart Foster School of Humanities Halmstad University Bachelor’s thesis in English Acknowledgment My appreciations to my supervisor Stuart Foster for very helpful advice during the research. Abstract In this essay I shall analyze Barack Obama’s Inaugural Address, January, 2009 from the perspective of various linguistic techniques. More specifically, I shall propose and focus on the idea that theRead MoreObamacare : The Future Of Obamacare Essay2051 Words   |  9 Pagesraces in American history, the populous candidate Donald Trump has been elected by the American people as our next president. While campaigning, one of the first things that Trump vowed to accomplish in office was to repeal and replace the Affordable Care Act (donaldjtrump.com). Trump should have no trouble doing this with the support of both the Republican senate and the Republican House. The consequences of what exactly will be done is a constantly argued topic and the phrase â€Å"repeal and replace Obamacare†

Leadership Approaches Of Leadership And Leader Member...

Exploring Leadership Approaches Publilius Syrus wrote, â€Å"Anyone can hold the helm when the sea is calm,† meaning any person can be a leader when operations are working correctly (Pozin, 2014). What type of leader stands out when complex problems arise? Two leadership approaches, collective and leader-member exchange, have opposing principles guiding the success of the methods. One approach foregoes a designated leader and enables team members to reach an objective collectively, whereas the differing approach bases its success on the dyadic relationship between the leader and follower. Leaders must recognize the strengths and weaknesses of each approach and decide which method is more appropriate for the situation, as is the case for the United States Coast Guard. Leadership Approaches Leadership theories differ in motivational concepts, but most agree effective leaders inspire followers to work toward a common goal by doing the best job possible (Reed Bogardus, 2012). Two potential approaches to leadership are collective leadership and leader-member exchange. One focuses on the distribution of leadership where the other spotlights dyadic relationships. Although both can be effective when the organizational setting is right, there are flaws leaders should be aware of to identify problems before it spirals out of control. Collective Leadership Collective leadership (also known as distributed leadership and shared leadership) is an evolving relationship whereShow MoreRelatedApproaches to Contemporary Leadership Essay1114 Words   |  5 PagesContemporary Leadership: The concept of leadership is an issue that has elicited considerable debate in the recent past to an extent that there is an extensive body of research and literature that addresses the issue. Some of the most common issues in the wide range of literature on this issue include scientific investigation, fiction, and biographies (Truckenbrodt, 2000, p.233). This concept has generated such concerns because leadership influences politics, academics, organizations, militaryRead MoreThe Evolution Of Leadership And Organizational Impact1161 Words   |  5 PagesLeadership History: The Evolution of Leadership and Organizational Impact Keywords: Leader, leadership, organizational impact, organizational performance Introduction The common denominator, according to Stone and Patterson (2005), shared by biblical patriots, Greek heroes Egyptian rulers is leadership; regardless of its influence, their lessons and philosophies continue to contribute to leadership today. This paper will present the definition of leadership that provides a framework for exploringRead MoreLeadership Styles Of The Leadership1257 Words   |  6 PagesLeadership has been around for many years yet, still unable to contain it in a particular definition everyone agree on. There are numerous effective leadership styles used in the organization to achieve their goals. â€Å"Leadership is becoming increasingly recognized as a crucial issue for organizations facing change in a complex and volatile environment.†(Higgs 2009, p. 165) The leader is the person who can guide and inspire others to do things according to their needs with the success of the groupRead More Transformational Leadership Essay examples847 Words   |  4 Pages James MacGregor Burns has defined leadership as â€Å"leaders inducing the followers to act for certain goals that represent the values and the motivations – the wants and needs, the aspirations and expectations – of both leaders and followers† (Burns 1978. p.19.) The concept of leadership as a whole encompasses different explanations, theories and leadership styles and has been popular not only from the organizational perspective but in the educational and political context as well. This essayRead MoreA Report On The Air Force1346 Words   |  6 PagesSituation Description. The Air Force has many programs that need to be managed on a daily basis. Leading people in managing those programs was a leadership challenges I faces while I was in the United States Air Force (USAF). I was a flight chief in our Air Crew Flight Equipment. We had about thirteen programs that needed to be managed. At one time or another during my career I had personally ran each of these programs. Now as flight chief, it was my job to oversee that these programs wereRead MoreLeadership Goals And Strengths And Weaknesses1214 Words   |  5 Pages Leadership theories in and of themselves carry negative and positives characteristics. Within the various theories lie strengths and weaknesses that when applied to complex problems can highlight each one respectively. As I examine a few theories, I will look at the strengths and weaknesses of each and determine when and with which situation would these theories best be utilized. Collective leadership or distributive leadership, and leader-member exchange are both theories that incorporate specificRead MoreLeadership Theories: Learning About Transformational Leadership and Authentic Leadership1470 Words   |  6 PagesResources Officer and a Leader in the United States Army, I found this class not only to be very informative, but very useful for future practice and application. Through the myriad of different leadership theories and approaches, I have developed a better understanding of the historical, political, social, cultural, psychological, and organizational contexts in wh ich leadership occurs. I am knowledgeable on several ways to identify personnel who may be make for better leaders using the Trait ApproachRead MoreA Proposal on Effective Leadership Approaches830 Words   |  3 Pages To: Manager, Ridgeways company From: Team leader, special programs department RE: PLAN ON LEADERSHIP OF THE NEW DEPARTMENT With the recent introduction of a new department and my appointment as the team leader of the team that was put up to ensure that the company effectively enters the intended market calls for sound and sober leadership. An effective leader like me is what the team requires so that the company can be able to effectively enter the market as fast as possible. It is an urgentRead MoreDifferent Definitions Of Leadership, My Leadership Style, How I Think And Today s Time865 Words   |  4 PagesWithout Leadership Everyone Would Be Lost and Disorganized If a person was to ponder about where leadership is found they would eventually conclude it is everywhere. Leadership could be argued that when God made the earth and all of its creatures that he gave us the capability to lead. We see this from Adam and Eve, Noah, Sampson, Abraham, David, Sara, Mary, Jesus and all of his disciples. Anyone can be an effective leader if they are educated on how to be one. Leaders are found everywhere inRead MoreThe Case Model Of Leadership1462 Words   |  6 PagesGiven the description of the leadership situation facing the airplane crash survivors described on pages 2-3, how would leader-member exchange (LMX), the normative decision model, the Situational Leadership theory, the contingency model, and the path-goal theory prescribe that a leader should act? Answer) The contingency model of leadership is based upon the relationship between three aspects of leader-follower-situation model. Apart from this contingency model, leaders are assumed to act in a flexible

An Overview of Aging and Existing Cultural Differences Essay

An Overview of Aging and Existing Cultural Differences Society predetermines a specific life course for each person of their community. Missing any stage of this course is detrimental to the development of the human life. But not all societies have these stages of life; ergo different cultures define stages differently. The stages of the life course are childhood, adolescence, adulthood, young adulthood and middle adulthood, old age and death. Society thinks of childhood as the first twelve years of life. In most cultures it is known as the time of autonomy from the weight of the grown-up world. But in other societies, such as Taiwan and Indonesia, childhood is seen as another occasion to send someone to work. The children do not have†¦show more content†¦The experiences those go through during adulthood are different from culture to culture. In most societies it is considered common for young adults to break free of parents and learn to manage for themselves a host of day-to-day responsibilities. ‘However, it is common in countries like Japan to find extended families with up to three generations living together’ (AFS, 2000). Also in many societies death does not usually occur during adulthood, but rather during old age. ‘Though in countries like Zimbabwe and Malawi indi viduals do not get to live a long adulthood since the life expectancy is thirty-eight years’ (Rosenberg, 2000). nbsp;nbsp;nbsp;nbsp;nbsp;Old age is the last stage of life itself, beginning in about the mid-sixties. This final phase of the life course differs in an important way from the earlier stages. It is a time when you leave roles that provided both satisfaction and social identity. Once again those in this stage of life, experience old age differently from culture to culture. Old age is normally a time for retirement. ‘Elderly men in Japan however, are more likely than their counterparts in North America to remain in the labor force, and in many Japanese corporations, the oldest employees enjoy the greatest respect’ (Macionis amp; Gerber, 2002). The percentage of the Japanese populationShow MoreRelatedAn Overview of Aging and Existing Cultural Differences1477 Words   |  6 PagesAn Overview of Aging and Existing Cultural Differences Society predetermines a specific life course for each person of their community. Missing any stage of this course is detrimental to the development of the human life. But not all societies have these stages of life; ergo different cultures define stages differently. The stages of the life course are childhood, adolescence, adulthood, young adulthood and middle adulthood, old age and death. Society thinks of childhood as the first twelveRead MoreConsumer Marketing and Branding Strategies1632 Words   |  7 PagesConsumer Marketing and Branding Strategies University of Phoenix MKT/GM571 Robert Kolber August 2, 2010 Consumer Marketing and Branding Strategies Overview The consumer electronics industry has undergone a major entertainment shift with the advent of the 3 dimension high definition television (3D HDTV). The technology has advanced to the point in which consumer demand for 3D television has become profitable from a global marketing view. The Chinese economy appears poised to take advantageRead MoreCase Study : Delta Coast Hospital Essay4951 Words   |  20 PagesProfitability Increase patient collections by optimizing patient billing and patient payment processes. Explore care delivery in outpatient settings, and reduce the length of patient stays. Strategically design new service lines with respect to the aging population. 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The four generations make up a dynamic and challenging workforce. The differences each generation brings will create exciting changes through organizational change and a shift in management ¡Ã‚ ¦s perspective on personnel issues. Only by understanding and respecting the generational differences, can Management successfully accomplish the blending of these four disparate generations into a unified workforce. TABLE OF CONTENTS Read MoreEthical Issues3368 Words   |  14 Pagesrelated to reporting, documenting, and intervening in cases of suspected abuse. Finally, this paper will highlight some strategies that will potentially prevent elder abuse. Literature Review CINAHL and Pub Med databases were used to find the existing studies about elder abuse and the legal and ethical responsibilities of health care providers and family caregivers. 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Appendix 1, Table 1 provides an overview of the two facilities before merger and an overview of PRMC after Merger. Rational for merger Merger of Hospital A and B and its consolidation into PRMC was essential as Hospital A was crippled with losses for 3 previous years and was also forecasting losses in the coming year. Hospital B was struggling with an aging facility. Furthermore, given that both the hospitalsRead MoreMen in Traditionally Women-Oriented Professions2476 Words   |  10 PagesOverview There are a number of professions that traditionally have been oriented towards women: teaching, especially younger children; certain carative professions; and, of course, nursing. Of the 2.1 million Registered Nurses in the United States, for instance, less than six per cent are male, and men make up only 13 percent of the new crop of nursing students (Chung, 2001). This trend is not just centered in the United States. In much of the developed world, males account for only 1% or less

Australian Accounting Standard Board

Questions: Issue 1. When finalising the financial statements for the year ended 30 June 2014 two significant errors were made and there is debate as to whether we should simply adjust the financial statements in the current year or change last years financial statements as well. The IT system of the company was installed 3 years ago at a cost of approximately $3.5 million and was estimated to last 10 years. However the latest technology advancements indicate that this was a very optimistic estimate and that the maximum life span of this equipment will probably be not more than 6 years in total with little or no residual value. It was also discovered in August 2014 that a machine worth $2.2 million purchased in January 2014 was erroneously written off to repairs and maintenance instead of being capitalised. Deberella the marketing director thinks we should just adjust this years figures to account for these problems but Peter indicated that it was slightly more complicated than that. Could you please giv e us some advice on this? Issue 2. A number of employees who work on our strategic management team have been with us for a number of years - at least 12 of them have been with us since the company commenced operations in 2006. In accordance with the Employee Bargaining Agreement (EBA) all employees are entitled to long service leave of 13 weeks if they remain in service for 10 years. They are also entitled to pro rata long service leave after 6 years of service. Our usual practice is to show the long service leave expense in the income statement when the employee actually takes leave and is paid. Of course we maintain a memorandum record of the number of days each employee is entitled to. Peter has indicated to us that he thinks we should consider treating this expense in a different manner, which seems complicated. The directors are wondering why we should complicate a very simple way of calculating long service leave why not stick with recognising the expense when we pay for it? What do you think we should do and w hy? Issue 3. Peter, the new financial controller, has also informed the board that the company will need to present a statement of cash flows with the financial statements in addition to those statements already being presented, which really attracted a lot of attention. Some of the directors thought it was a waste of time to present this statement as it was merely a summarised cash book. Others were of the opinion that it could be useful but didnt quite know how they would use it. The structure of the statement of cash flows also came into question with one of the directors suggesting that we merely needed to get a printout of the cash account and attach it. Another said that we couldnt just do that as we needed to show operating, instigating and financing cash flows in the statement. Could you please clarify this matter for us? Answers: Issue 1. The case law is related to AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors and Changes in Accounting Estimate There are certain items in financial statements that cannot be ascertained with perfect prediction. Such things can only be forecasted or estimated. The reason behind this is that the behind this is that the business is conducted in an uncertain environment. Nothing can be accurately predicted so we see the use of probability over here. There are various items of financial statements where estimation is required. These are as follows (a) Debtors becoming bad; (b) Inventory becoming outdated or obsolete; (c) Fair value of the financial assets or liabilities; (d) The useful lives of, or the expected pattern of the consumption of the future economic benefits in the depreciable assets; (e) The obligations of warranty. An entity cannot ignore the use of accounting estimate. The management has to select the estimates with high degree of precision. There are certain statutory requirements regarding estimation of certain items of financial statements. The management is at its discretion to change the estimate but the change should be disclosed and should be supported be facts. With respect to the nature of accounting standard, revising any estimate that was related to the prior periods is also not a correction of any error. Any change in accounting estimate has to be recognized in the financial statements. Such changes have to be recognized prospectively i.e. the past data on financial statements should not change. The changes will effect only current years financial statements. These are as follows (a) The period of such change, if such change affects that period only; or (b) The period of such change and the future periods, if such change affects both. There is an exception to the above. A particular change has a retrospective effect. Any change in accounting estimates that affects assets and liabilities or any aspect related to equity is has to be given a retrospective effect Error and Omission The items stated in the financial statements shall be given a retrospective effect for the following corrections Adjusting the comparative amount of the previous periods that are to be reported in which the error has been caused; or Adjusting the opening balances of liabilities, assets and the equity for the earlier previous years reported, if the error has been caused before the earlier previous periods presented. But in case that it is not possible to determine the exact cumulative effect of the change then the error is corrected from the beginning of that period from where it is possible to give effect in monetary terms with perfection and not estimation. Conclusion 1 An entity cannot ignore the use of accounting estimate. The management has to select the estimates with high degree of precision. There are certain statutory requirements regarding estimation of certain items of financial statements. The management is at its discretion to change the estimate but the change should be disclosed and should be supported be facts. Our case represent the aspect of change in accounting estimate and hence the effects of depreciation shall be shall be adjusted for the financial statements relating to the current year Conclusion 2 The machine having value of $2.2 million was debited to repairs and maintenance by mistake. Such mistake should be rectified by passing rectification entries Issue 2. Long Service Leave The following are the entitlements which are common for all the Acts and Awards 1. An entitlement which is legal and unconditional. Further the payment to such employee will arise only when he or she completes certain years of service i.e. 10years or 15 years. The Accumulation of the long service leave entitlement shall continue after this point, up till the leave is actually taken. 2. In certain situation like death, retrenchment, etc a legal entitlement to the pro rata instead of in place of long leave may arise. Any employer to whom the provisions of AASB 1028 apply can have employees falling in more than one mentioned above categories In some cases the employer provides the facilities of leave entitlement and the other cases they participate. This creates an obligation upon the employer to provide for future outflows that he or she may have to incur. Therefore he need to provide and recognise liability of an employee. Conclusion The statement of Peter is absolutely correct for treating the expense in a different manner. It is the requirement of AASB 1028 by treating it as liability or separate liability depending upon the scheme of long service and then charging the same to revenue as discussed above. Issue 3 There are certain benefits of cash flow 1. This statement helps the users of financial statement in evaluating the changes occurred net assets of any entity, the financial position of the company and the capability of the company to affect the changes in the cash flow in the form of timings to adopt to the changing situation and opportunities 2. This statement is helpful to the management as it helps in knowing the capability of the company in generating the cash flows. These cash flows can be discounted at cost of capital which is weighted average and thus one can determine the future profitability of a business 3. A proper bifurcation is provided by the cash flow statement regarding the financial statements and the inflow and outflow of cash. These three bifurcated activities are a. Financing activities shows changes in the capital part of financial statements i.e. those activities are recorded here which shows changes in the size and composition of the contributed equity and borrowings of the entity. b. Investing activities shows changes in fixed assets. Newly purchased fixed assets or any asset discarded are recorded here. Fixed assets are those which are purchased not for resale but for production and providing the goods and services or equivalent items. c. Operating activities shows changes in those activities which are carried out by the company to earn revenue. One can say them the principal activities carried out to earn revenue. These activities exclude financing and investing activities. 4. One can use past years cash flow statements to conduct some statistical analysis. Based on this statistical analysis one can predict the future outflow and inflow of cash. It is also helpful in measuring the accuracy of the past assessments of the future cash flows and also examining the bonding between the net cash flow and profitability and the effect of changing prices. Financial statements include the following: A statement that shows the financial position as at the end of the period; A statement that shows profit or loss for the period; A statement that shows changes in equity for the period; A statement that shows changes in cash flows for the period; Notes including a summary of significant accounting policies followed and other information that provide explanation; Cash Flow Statements This Standard applies to: Every entity which is mandatorily to prepare the financial statements as per the Part 2M.3 of the Corporations Act; The general purpose financial reports of every reporting entity; and The financial reports that are held to be general purpose financial reports. Cash includes the following items Cash at hand and demand deposits One can define cash equivalent as short term but liquid investments. These can be easily converted to cash Cash includes cash and cash equivalents also The cash flow statement shall be prepared in accordance with the statutory requirements and should be presented in a statutory manner. Conclusion The company should prepare cash flow statement. Complying the requirements of accounting standards is the statutory and mandatory requirement of AASB 101 and AASB 107. References AASB, 2011, Accounting Policies, Changes in Accounting Estimates and Errors reviewed on 28th January 2015, https://www.aasb.gov.au/admin/file/content105/c9/AASB108_07-04_COMPmay11_07-11.pdf Chartered Accountants, 2013, Accounting Policies, Changes in Accounting Estimates and Errors reviewed on 28th January 2015, https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Australian-accounting-standards/Analysis-of-AASB-standards/AASB-108--Accounting-policies-changes-in-accounting-estimates-and-errors?standard=%7B846095B1-DF0D-4BAD-967E-FFBB46D5F8AE%7D AASB, 2001, Employee Benefits reviewed on 28th January 2015, https://www.aasb.gov.au/admin/file/content102/c3/AASB1028_06-01.pdf AASB, 2011, Presentation of Financial Statements reviewed on 28th January 2015, https://www.aasb.gov.au/admin/file/content105/c9/AASB101_09-07_COMPsep11_07-12.pdf AASB, 2007, Cash Flow Statements reviewed on 28th January 2015, https://www.aasb.gov.au/admin/file/content105/c9/AASB107_07-04_COMPjul07_07-07.pdf