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Module 11

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Various politicians have utilized multiple strategies to ensure gaining the trust of voters. The “Southern Strategy” is among these numerous strategies utilized in politics. It was the plan utilized successfully by Nixon to boost voting among white voters, specifically in the south. His campaign heavily emphasized state’s rights, law, and order to draw white voters that were focused on racial integration. Various critics claimed that the language utilized in this particular strategy was a wrong response concerning the civil rights movement’s success and an appeal to racists. Thus, the entire “Southern Strategy” preface was a call to racism, particularly against the Blacks, to acquire white voters’ support in the south (Carter, 2013). Some movements that happened in the 1960s and 1950s resulted in more in-depth Southern racial tension than before. The movements consisted of the Voting Rights Act and Jim Crow Laws demolition.

Several approaches to the “Southern Strategy” existed throughout politics from multiple politicians such as George Wallace and Richard Nixon. Nixon’s “Southern Strategy,” when compared to Lee Atwater’s strategy, there was a relatively similar approach to the present issue, especially in examining the directions of the approaches. In his ill-famed interview, Lee Atwater talked about establishing a more theoretical way of handling America’s racial issues that would contribute to a considerable agreement among all people. He argued that Blacks are getting more abstract by talking about states’ rights and forced busing (The Nation, 2012). In addition, he said that his generation would be the Southerners’ initial generation that would not be biased. Therefore, Atwater’s strategy was similar to Nixon’s “Southern Strategy.”

George Wallace was specifically driven by raw emotions and rage, which resulted in him becoming an influence and power position. His utilization of religion and fear in the various speeches he made enabled Wallace to obtain a trusted following that believed all his words were laying a base for the republican party’s dominance. Thus, Carter showed his idea concerning ‘Wallace Factor’ by highlighting that “the trick for candidates who hoped to benefit from the ‘Wallace Factor’ was to exploit the grievances he had unleashed while disentangling themselves from the more tawdry trappings of his message”; this explained gathering a voter fundamental constructed on factors and performance showed by Wallace and simultaneously avoiding the unnecessary and profane elements that may contribute to the specific candidates losing various voters from varying localities (Carter, 2013). Thus, it meant in case a certain candidate had the ability to capitalize on these specific ideals without necessarily getting stuck in the message. Hence, they would obtain success at that point.

Atwater showed a similar political strategy in his infamous interview when arguing the Republican Party’s rise beginning the 1970s to 1990s. His strategy to encourage the Republican Party had similar agenda involving pleasing white southerners. However, he used a considerably subtle dialect to keep away from critics from various more liberal voters. Lee Atwater discussed support gained for the Republican Party utilizing various economic policies. These were to be the platform’s face, but these particular policies would affect the black race negatively. In addition, Atwater utilized varying tactics compared to different republicans, where he appealed to white extremists in a considerably mild way.

Carter, in contrast to Atwater, had a belief that the Republican Party’s rise, particularly in the south, was established on the base Wallace had developed. I agree with this idea of Carter because the vibration of such dramatized and religious politics is presently visible in the south. The southern fear and faith concerned with politics significantly reflect the passion visible in various of Wallace’s campaigns.

Moreover, Atwater’s approach utilized multiple similar tricks that Carter’s book describes; this included the cover he had concerning the fundamental racist strategies in his existing political manifesto. For instance, the “Wallace Factor” is among the described similar trick that exploited the demands that Wallace had seen from other people to ensure acquiring their trust and obtaining his position in the office. He was then to carry out what he desired after gaining office. Similarly, Atwater explained the similar tactic of communicating significant abstract issues and avoiding being more detailed on the campaign’s aims but progressing in gaining voters’ trust.

Willie Horton’s ads critics were fair to say that they were racism-masked ads. The primary focus while watching the ads involves how Dukakis desired to permit weekend prison passes and declined to be involved with the death penalty for individuals with first-degree murder convictions. An African American, Willie Horton, is among the inmate focused on the ads (RETRO REPORT, 2016). He was arrested for rape, murder, and robbery. Therefore, they chose a Black American rather than any inmate and utilized his race to affect Dukakis’ rally further, specifically fighting against the death penalty.

References

Carter, D. T. (2013). The politics of rage : George Wallace, the origins of the new conservatism, and the transformation of American politics. Louisiana State University Press.

RETRO REPORT. (2016). Willie Horton: Political Ads That Changed the Game | Retro Report. Www.youtube.com. https://www.youtube.com/watch?v=sdJ97qWHOxo

The Nation. (2012). Exclusive: Lee Atwater’s Infamous 1981 Interview on the Southern Strategy. Www.youtube.com. https://www.youtube.com/watch?v=X_8E3ENrKrQ

Moonshiners, An Illegal Alcohol

Moonshine is an illegal alcohol that is produced from cereals and yeast combined together then fermented. The trade of making moonshine began in Europe after Saint Patrick brought this alchemy from Egypt (Dabney, 33) during the seventeenth century where it was used as a substitute for making wine during winter. Both the Spanish and English government demanded a lot of tax regarding any drink that had a higher percentage of alcohol preferably more than three percent (Institute of Man) from wine makers. Most of the European immigrants who moved to America during this time brought their knowledge about distillation to America. While in America, the moon shinning business continued being brewed especially in states such as Tennessee (Dabney, 134), Appalachia (Dabney, 76) and during this era, it was legal.

During the revolutionary war, the American government found it expensive financing its troops therefore the decision to place a tax on each and every liquor that was produced and consumed (Dabney, 53). As most of the pioneers of making moonshine originated from Europe and fled because of taxation, the majority of them continued making the liquor illegally without paying taxes. Farmers who acquired these skills discovered making moonshine from corn was more profitable as compared to selling their corn for other purposes (History of Moonshine). People discovered a new way of making moonshine and transporting it to the market (Institute of Man). During the United States Civil War, the government under the federal revenuers again looked for other means of getting money thus their attempts to crack down on the large number of illegal moonshine brewers and in the process, the whiskey rebellion began (Dabney, 67; Howell, 121). In the process many vehicles began transporting the liquor in petrol tanks to avoid being stalked by police thus brought about the rise of race companies including Nascar, which is a multibillion dollar company today (Howell, 8).

By definition of moonshine, it is unregulated and contains impurities (Smith, 394). One major side effect of drinking moonshine is the fact that it causes lead poisoning which can result in death or blindness (Smith, 394). Because of the soldering of the stills, the amount of lead deposited is great, when one consumes the alcohol the levels of lead salts build up in one’s body (Dabney, 223) and in the process cause poisoning. Methanol is an impure alcohol that triggers blindness among alcoholic consumers (Institute of Man). This compound is found in large quantities especially in the improper distilled moonshine.

Moonshine being an illegal brew, is made in the confines of the brewer’s residence but a good number of the brewers would hide their distilleries in forests or in deserted places (Dabney, 23) because of the stringent laws related to moon shinning brewers without licenses. The stills used are made of metal most probably copper (Dabney, 162). These stills also consist of a furnace, worm box with a tap, filter bucket, and a thump keg (History of Moonshine). Because most of the items can be found easily, most brewers come up with their recipe and brew the moonshine at home or in a secluded place and place traps in case of intrusion by the authorities (Dabney, 185). These stills can be contaminated because they use dangerous coolants like glycol, which is used as antifreeze in car engines (Institute of Man).

Moonshine is made by mixing corn, which is grounded in hot water. Sugar and yeast are later added to help in the fermentation process (Dabney, 1). The yeast being the main ingredient in making moonshine is the determining factor in the kind of alcohol produced (Institute of Man). Yeast feeds on sugars and gives alcohol as the byproduct together with carbon (V) oxide (Smith, 70). When put under good conditions the yeast can produce around twenty percent pure alcohol but this process of brewing can result in an increase in toxicity levels because of the presence of natural yeast (Institute of Man).

After addition of the mixture of corn, sugars and yeast in the still, it is heated thus making the alcohol evaporate. The evaporated alcohol is directed to the thump keg by means of a pipe (History of Moonshine). In the thump keg, the liquid alcohol is again reheated to get rid of any solid impurities from the first heating process (Dabney, xxv) then the gaseous alcohol is taken to the worm box in a coil inside the box (History of Moonshine). There is cool water in the worm Box used to condense the pure alcohol vapor into liquid (Dabney, xxii). The condensed liquid is then redirected to a filter bucket via the tap in the worm box. Due to the fact that this alcohol produced is illegal, as soon as they are produced, the brewers cannot keep them for long therefore the need to dispose off as soon as possible (History of Moonshine).

Brewers making the moonshine earn a lot of money (Dabney, 23). For them, the amount of money made was enough to bring up their children and live a healthy lifestyle (Dabney, 29). The majority of the materials used to make the alcohol can be found locally, are recyclable, and at a fairly cheap price (Institute of Man). Once the liquor is produced, it is sold fairly cheap (Dabney, 23) thereby attracting a huge number of followers and the profit margin obtained is great. The American government is responsible for collecting billions of shillings annually (Tsai) because liquor alone is worth to the American government as compared to beer or wine (Tsai).

In most states in America, it is legal to brew liquor at home but selling alcohol is prohibited without a permit. The Volstead Act, which was passed by the congress in 1919 (Dabney, 106) was enacted and enforced the subsequent year. This law was initially enforced to make alcohol expensive for the normal American and in the process, stress out the importance of living in an alcohol free environment (Cohen, 41) and prohibit consumption of illegal alcoholic beverages by the American society (History of Moonshine). Although it was met by a negative response by the majority especially the poor (Dabney, 106), the Volstead law made sure that alcoholic beverages produced were of the right alcohol content to be consumed by citizens.

The Blaine Act, which was passed during the late twentieth century. This law ended the prohibition of making spirits (History of Moonshine). A majority of legal brewers began making alcohol that is relatively cheaper to the American citizen therefore most of the moonshine brewers nearly ran out of business (History of Moonshine).

Consumption of alcohol is good because a large number of brewing companies have a legal permit with the required facilities used in making such beverages. Consumption of moonshine in most cases can be detrimental. There are health risks involved in consumption of such spirits. Due to the fact that these drinks are brewed in secrecy, the brewer might forget to consider the right conditions necessary to brew alcohol thus the yeast may end up building large doses of impurities. Another thing that should prevent people from consuming moonshine is the fact that the chambers used to heat the alcoholic mixtures are made from compounds of lead, which can cause serious health implications.

Works Cited

Cohen, Daniel. Prohibition. Minnesota: Millbrook Press, 1995

Dabney, Joseph Earl. Mountain spirits: a chronicle of corn whiskey from King James’ Ulster plantation to America’s Appalachians and the moonshine life. New York: Scribner, 1974.

Dabney, Joseph Earl. More mountain spirits: the continuing chronicle of moonshine life and corn whiskey, wines, ciders & beers in America’s Appalachians. North Carolina: Bright Mountain Books, 1980.

Howell, Mark D. From Moonshine to Madison Avenue: A Cultural History of the NASCAR Winston Cup Series. New Hampshire: Popular Press, 1997.

Smith, Andrew F. The Oxford Companion to American Food and Drink. New York: Oxford University Press, 2007.

“The History of Moonshine”. < HYPERLINK “http://habee.hubpages.com/hub/The-History-of-Moonshine” http://habee.hubpages.com/hub/The-History-of-Moonshine> December 03, 2012. The Institute of Man. “The Science and History of Moonshine”. 24 August 2011 < HYPERLINK “http://www.instituteofman.com/2011/08/24/the-science-and-history-of-moonshine/” http://www.instituteofman.com/2011/08/24/the-science-and-history-of-moonshine/> December 03, 2012.

Criminology

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Capital punishment refers to the practice of executing a person or criminal as a punishment for certain crimes after a proper legal trial (Hood & Hoyle, 2015). A state can only use the penalty if their constitution allows for the execution of criminals for serious crimes such as murder, treason fraud, adultery, certain types of fraud as well as rape to which are referred to as capital crimes. The phrase capital punishment is derived from a Latin word that means head. Capital punishment has been used in many countries around the globe while in some of the countries it is accepted. Capital punishment has aroused the dilemma and as well triggered the debate as to whether capital punishment is ethical and moral. The divisions have resulted in the provision of different views, with those supporting capital punishment having their reasons for their continued use while those who don’t use it have their reasons for opposing it.

The countries to which use capital punishment for the people who have committed heinous crimes such as murder claim that through capital punishment, justice prevails (Sarat, 2018). The main reason as to why the legal framework is instituted is to ensure that the offenders of the law are subjected to the judgement and which they are proven guilty or innocent. With the introduction of capital punishment as a form of punishing the offenders, it is therefore within the law that people who are found committing the heinous crimes such as murder, rape, terrorism and even treason should be subjected to face justice through capital punishment. The weight of the offence makes it possible to be classified as a heinous crime and therefore if the judge finds that there is compact evidence, consequently it is with no doubt that the person should face the right judgement. Justice is said to prevail if the offended is satisfied and the right punishment is given to the offender.

The other reason as to why the states using capital punishment to punish the offenders is that they claim that by executing a person for committing a certain crime, it will deter other potential criminals who wanted to commit the same or other related offences (Reid, 2015). With this in mind, the users of capital punishment can justify their actions as they base their arguments on the ground that it will deter future crimes from happening. People or the potential criminals are said to get afraid of being punished by death, and therefore, they are prevented from committing such crimes in future. Beside deterrence, punishment by death prevents re-offending, and this is another basis as to why it is allowed on some countries. When a person is punished by death, it means that the same person will never commit such or another similar crime in the future as they are eliminated from the face of the world. Removing such people such as adulterers, rapists and murderers prevent further corruption of the society’s morals, and therefore it contributes to the reshaping of the society.

Punishment by death is considered to be cheaper (Garrett, 2017). The states to which use capital punishment are of the argument that it doesn’t cost the nation much money to eliminate the lives of the offending individuals and this makes it a priority method of punishment in their country. They claim that holding criminals in prison for a life sentence is costly and requires a lot of resources and devotion to keep guard to the prisoners as well as fulfilling their basic needs. Considering that the cost of living is high, it will be much costly to meet the requirements of each prisoner. Holding criminals for life imprisonment has no threats to deter criminals from committing crimes, and more prisoners are being incarcerated. Capital punishment, therefore, reduces the cost of catering for the criminals.

However, despite the continued use of capital punishment by some countries, it is considered unethical by others and therefore has their reason for opposition. Those against death punishment argue that it is against human rights and violates the right to life of an individual (Waldron, 2017). Every person has the right to live as the constitution of their countries guarantees it. Instead of using capital punishment, those against capital punishment argue that other methods such as sentencing the criminals to life imprisonment would be of more benefit than terminating the life of an individual. Capital punishment is considered as being cruel and inhumane and therefore degrades the life of human being. All lifeforms are precious but the life of a person is more valuable than that of an animal, and thus, the life of a person should be preserved.

According to the religious perspective, terminating the life of a person is considered a sin and against the will of God. Christians claim that God is the sole provider of life and therefore no one has the ability or the permission to terminate another person’s life. According to the Bible, humans were created by God in his likeness and controlled their fate. It is, therefore, the duty and responsibility of God to terminate the life of his creations, and the humans are entrusted in keeping guard of their brother’s life but not terminating it (Sachedina, 2005). On the other hand, ending the life of a person will be reducing the value of human life, and God created each one of us equal implying that no one has the authority to terminate another person’s life. Instead of ending the life of a person, they should be left in the hands of God to decide their fate and as well punish them for their wrongdoings.

The use of death punishment does not perform the required obligation as more and more people get to be incarcerated due to the same crimes that are termed as being heinous (Carlsmith et al. 2002). The nations against the use of the death sentence claim that killing a person doesn’t deter another person to commit the same crime, especially for the extremist such as the terrorists. The terrorists believe that if they die, their place is reserved in heaven and therefore will not hesitate to commit the crimes because they are motivated by death. And therefore the continued use of capital punishment will only imply that more and more extremists have been killed and thus the primary purpose of deterrence doesn’t work as purported.

Execution of the innocent is another reason as to why some of the nations are against the continued use of capital punishment (Baumgartner et al. 2008). A person is considered guilty if only compact evidence linking the person to the crime. However, innocent people may be found in the scene of the crime and therefore may end up being held captive for the crimes that they never committed. The innocent people, thus, serve the sentence of another guilty person who is left roaming free in the streets. There is no way a person can explain his innocence if the evidence might link to them and this makes them suffer ending up to death from unknown crimes to them. Hasty and poorly conducted investigations may lead to the execution of innocent individuals and therefore the innocent end up being punished.

The dilemma of whether it is ethical for the continued use of capital punishment has triggered debates with each stakeholder having their opinion. According to my opinion, capital punishment is unethical and should be terminated to save the dignity of the life of humankind. Besides, there is no proven evidence that penalty by death deter people from committing similar crimes as more criminals are booked with the same charges that are punished by death. It is, therefore, the responsibility of the countries that have adopted capital punishment to pull it down and adopt other strategies such as subjecting the criminals to life imprisonment with inclusion for hard labor for their food.

References

Baumgartner, F. R., De Boef, S. L., & Boydstun, A. E. (2008). The decline of the death penalty and the discovery of innocence. Cambridge University Press.

Carlsmith, K. M., Darley, J. M., & Robinson, P. H. (2002). Why do we punish? Deterrence and just deserts as motives for punishment. Journal of personality and social psychology, 83(2), 284.

Garrett, B. L. (2017). End of Its Rope: How Killing the Death Penalty Can Revive Criminal Justice. Harvard University Press.

Hood, R., & Hoyle, C. (2015). The death penalty: A worldwide perspective. OUP Oxford.

Reid, S. T. (2015). Crime and criminology. Wolters Kluwer Law & Business.

Sachedina, A. (2005). End-of-life: the Islamic view. The lancet, 366(9487), 774-779.

Sarat, A. (2018). When the state kills: Capital punishment and the American condition. Princeton University Press.

Waldron, J. (2017). A right-based critique of constitutional rights. In Bills of Rights (pp. 3-36). Routledge.

causing him to die. As Shaw died

Accounting case study: Statement of Cash Flows (IAS 7)

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Table of Contents

TOC o “1-3” h z u Introduction PAGEREF _Toc386518425 h 3The Statement of Cash Flows PAGEREF _Toc386518426 h 3Objective, use and purpose of International Accounting Standard 7 (IAS 7) PAGEREF _Toc386518427 h 3Key Terms PAGEREF _Toc386518428 h 4Operating Activities PAGEREF _Toc386518429 h 4Investing Activities PAGEREF _Toc386518430 h 4Financing Activities PAGEREF _Toc386518431 h 5Calculating Net Cash Flow from Operating Activities PAGEREF _Toc386518432 h 5Direct method PAGEREF _Toc386518433 h 5Indirect approach PAGEREF _Toc386518434 h 6Treating peculiar items PAGEREF _Toc386518435 h 6Evaluation PAGEREF _Toc386518436 h 7References PAGEREF _Toc386518437 h 9

Introduction

Financial statements should be prepared frequently so that the financial position of the company can be noted and if corrections need to be made it is much easier to make them (International Accounting Standards Board 2010, 2). There are various financial statements that are prepared periodically. They include the consolidated statements of Earnings, The balance sheet and the statement of cash flows. The IAS 7 requires that the business organization presents the Statement of Cash Flows together with other primary statements.

The Statement of Cash FlowsThe Statement of Cash Flows is used to show, trace and track the movements of cash and the cash equivalents in an entity over a given period. The focus is on the movements of cash held at hand, in banks, in short term liquid instruments and any investments in demand deposits. The cash equivalents that are listed in the Statement of Cash Flows should be easily and readily convertible without any significant fall in the current value. The standard maximum maturity date for cash equivalent is three months. The IAS 7, 7-8 require that overdrafts payable on demand and equity investments with substance of a cash equivalent such as preferences shares acquired by an entity three months to the date of redemption be included in the Statement of Cash Flows.

Objective, use and purpose of International Accounting Standard 7 (IAS 7)

The IFRS Board defines the objective of IAS 7 as, “the objective of this Standard is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flow which classifies cash flows during the period from operating, investing and financing activities” (International Accounting Standards Board 2012, 1).

The purpose of the IAS 7 is to analyze and present any change that have occurred to cash and cash equivalents in an entity during a given period. The statement outlines the changes in the most liquid assets such as cash, demand deposits and money market instruments that can be liquidated in less than three months.

Key TermsThere are 3 sections in the cash flow statement as per the IAS 7, 10 are the cash flows from operating, investing and financing activities.

Operating Activities The cash flows from operating activities which deals with flows of all cash from operations such as the sale of goods and services less the cost of the those goods if the difference is positive then the business is going up and vice versa (Cross 2012, 20). The operating activities form the base of revenue generation in many companies. The segment reflects cash (inflow) received from the customers for good supplied or services rendered. The segment also has cash (outflow) paid to suppliers as well we the employees.

Investing Activities

Cash flows from investing activities entail the amount of cash that has been used to purchase capital goods for investment purposes. The section reflects the movements of cash as a result of either acquisition or disposals of investments that generate income to the entity. After a period of time the equipment will depreciate thus generating a depreciation expense. If re – investment occurs the high inflows are registered and the reverse is true.

Financing ActivitiesCash Flow from Financing Activities includes inflow of cash that is generated from outside financing activities such as selling of bonds and stock shares. Paying a loan and dividend payments in this case will be cash out flow. The financing activities entail actions that change the equity capital and the company’s borrowing structures.

Calculating Net Cash Flow from Operating Activities

The calculation Net Cash Flow from Operating Activities can be done in two ways. The approaches are direct and indirect methods.

Direct method

The direct method is mainly used in the calculation of the Net Cash Flow from Operating Activities (Walton 2009, 56). The direct method shows each of the classes of gross cash payments and receipts. The Net Cash Flow from Operating Activities can be calculated as shown below;

Cash received from sales (clients)xxxx

Cash paid for supplier’sxxxxCash payments to employeexxxx

Cash payments for other operating expenses xxxx

Interest paid xxxx

Income taxes payments xxxx

Net Cash Flow from Operating Activitiesxxxx/ (xxxx)

Indirect approach

The indirect approach entails adjustments of the accrual basis net profit/ loss to reflect the noncash events. The Net Cash Flow from Operating Activities is calculated using the indirect approach as shown below;

Earnings before interest and income taxes xxxx

Depreciation expenses (added back)xxxx

Amortization of goodwill (added back)xxxx

Increases in receivables xxxx

Decreases in stock xxxx

Increases in payables xxxx

Interest expense xxxx

Deduct accrued interests, not paid xxxxInterest paid xxxx

Paid Income taxesxxxx

Net cash from operating activities xxxxx/ (xxxxx)

Treating peculiar items

The IAS 7 has certain provisions in the classifications of the different elements of the cash flow statement. Cash movements from the interests and dividends may fall in any of the above classifications provided the classification is consistent for each of the periods, IAS 7, 31 (International Accounting Standards Board 2012, 2). The cash movements from taxes’ income fall under the operating activities, unless the items can be directly related to either financing or investing activities; IAS 7, 35((International Accounting Standards Board 2012, 2).

The IAS 7 25 requires that effective translations of currency exchanges take place to harmonize any foreign currency based transactions (Muthupandian 2008, 5). The date of the statement should act as the base rate for the currency translation in case of foreign currency dominated transactions. However, for the subsidiaries, the translations should take place using the prevailing rate on the date of the transaction.

Evaluation The purpose and use of the Statement of Cash Flows benefit to Hope Ltd

The Statement of Cash Flows is very vital for different stakeholders in an entity. From the above analysis, it is evident that the statement of cash flow is not only beneficial to the management but also to other stake holders such as the lenders, government, competitors, employees, customers among others in many ways ( Beatty, Ramesh and Weber 2002, 74).

Hope Ltd should start preparing the Statement of Cash Flows. The Statement of Cash Flows would help the company to know its liquidity status and meet the informational needs of its stakeholders (Wustemann and Wüstemann 2010, 2). For the investors of Hope Ltd, they need knowledge on where to invest their money and from the statement of cash flow it is easy to determine the most suitable place to invest expecting high returns on the investment based on net cash flows and ability to pay short term investment outcomes. In cash flow considerations, most investors are attracted to businesses that have a lot of free cash flow. Free cash flow is a sign that a business has ability to pay debt to lenders, pay dividends to shareholders, buy stock and enhance business growth. The employees of Hope Ltd need to know the stability and financial health of their employers. They want to know cash availability in order to have security in their employment. They need information about their remuneration for the current period Basu 1997, 24; Aboody and Liu 2003, 43). The short term lenders such as providers of demand bank overdrafts use the statement of cash flow to determine whether the overdrafts and interests will be paid in due time. The suppliers and trade creditors need to know the liquidity of the business in order to determine when they will be paid for the short term credit. Conclusion

Financial statements are tools that provide useful information that will be used during the decision making process by the managers of a business entity. Though the financial statements are based on historical data, the information gives the basis of the trend in the business and the business entity can easily predict the outcome of a decision they make regarding a financial decision made (Bellandi 2011, 12). The cash flow statement is a statement that shows how much cash flow in the business and how much cash flow out of the business over a given period of time in a year. Although the statement of cash flow may not provide all information to all users there are certain needs that it can meet to all users- the information on risk.

ReferencesAboody, D. and Liu, J., 2003. Earnings quality, insider trading, and cost of capital. Working Paper Series.

Basu, S., 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting & Economics, 24(1): 3-37.

Bellandi, F., 2012. The handbook to IFRS transition and to IFRS U.S. GAAP dual reporting interpretation, implementation and application to grey areas. Chichester: John Wiley.

Beatty, A., Ramesh, K. and Weber, J., 2002. The importance of accounting changes in debt contracts: The cost of flexibility in covenant calculations. Journal of Accounting and Economics, 33(2): 205-227.

Cross, M. B., 2012. The SEC speaks in 2012. New York, NY: Practising Law Institute.

International Accounting Standards Board. 2012. ‘IAS 7 Statement of Cash Flows: Technical

Summary’. [Online]. Available at: < http://www.ifrs.org/Documents/IAS7.pdf> [Accessed 28th April 2014].

International Accounting Standards Board, 2010.The Conceptual Framework for Financial Reporting. . [Online]. Available at <http://eifrs.ifrs.org/eifrs/files/319/EDU%20BOUND%20VOLUME%202012_Conceptual%20Fram ework_PART%20A_167.pdf> [Accessed 28th April 2014].

Muthupandian K., 2008. IAS 7, Statement of Cash Flows – A Closer Look. The Management Accountant, Vol. 43 No. 9.

Walton, P., 2009. An executive’s guide for moving from U.S. GAAP to IFRS. New York: Business Expert Press.

Wustemann, J. and Wüstemann, S. 2010. Why consistency of accounting standards matters: a contribution to the rules-Versus-Principles debate in financial reporting. Abacus 46 (1): 1-27.

and capital punishment does not discourage crime. A poor-quality defense leaves many sentenced to death

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Capital Punishment

According to the rule of law, any form of crime against the constitution is punishable. Different forms of punishment have been established after an individual has been proven guilty by a court of law. In the United States, capital punishment has been a major issue that has arose various debates on whether to legalize the punishment model for relentless capital offenses, among other serious crimes (Sigler 74). Capital punishment, also known as the death penalty, is a form of punishment where an individual is executed through the legal state’s process for justice for the crime committed. Scholars indicate that capital punishment is a legal action taken by the criminal justice department or the state whereby an offender is put to death as a sign of justice or punishment for the crime/offense committed. In some cases, capital punishment is confused with extrajudicial executions. Still, capital punishment is a legal process different from extrajudicial execution, which is carried out without any due legal process of law.

Research indicates that various methods/ways of capital punishment can be utilized to execute lawbreakers or criminals. These methods include lethal injection, gas chamber, hanging, and electrocution, among other various methods. However, based on humanitarian and moral grounds, capital punishment as a form of crime regulation is subjected to various controversies, not only at the national level (Rocker 589). Still, it is also utilized on global/international platforms. Capital punishment began to be used in the United States in the 18th century to punish individuals who were committing criminal offenses and were proven guilty by the legal court process. Statistics indicate that 33 states in the United States have legalized the use of capital punishment because it has played a significant role in regulating individuals from committing a capital form of crimes such as treason and murder, among other crimes.

Capital punishment, or the death penalty, has been part of the justice system of various civilizations and primal tribal methods. This form of punishment emerged due to the evolution of the prison system as a way of regulating or keeping individuals in confinement for a certain period due to harmful wrongdoing in society (Gilbert et al. 546). According to criminal and justice, the report indicates that capital punishment was adopted to regulate grievous offenses such as: brutal and inhumane acts such as increased mass killing, murder, and rape, among other actions determined by the grimness of the crime committed, provides a reason for execution. For instance, capital punishment was adopted in the 20th century when a mass killing left millions of people dead during the war between nations or states. Therefore, this form of punishment was adopted and practiced to maintain discipline among people. Historically, capital punishment or the death penalty was applied for criminal offenses in various religious beliefs and was highly used with the support of religious hierarchies. However, capital punishment has been fully left to the judiciary system to award the punishment under special circumstances, and no religious faith is associated with its morality (Gilbert et al. 549).

Capital punishment brings about justice’s retaliation, which has been known to be an effective form of punishment. The punishment protects society ethically by guaranteeing that those who have perpetrated horrific deeds have paid the price proportionate to the harm they have inflicted (Walsh and Virginia 269). It serves as a means of bringing victims’ families and society together. The belief that the death sentence is the only option for bringing justice to the victims’ families and society is common. Capital punishment has been established to restrain violence in our societies. This is because this form of business has strongly depicted eye-for-an-eye justice, a vicious act in and of itself. This form of punishment has been seen as the only way to restrict criminals and other lawbreakers, create general safety in our society, and establish primary responsibility for all (Walsh and Virginia 275).

In the United States, capital punishment has raised various debates in various states, which led to the establishment of movements to abolish it. However, despite a movement to abolish the form of punishment for criminals and other lawbreakers, many states have accepted and retained capital punishment. In contrast, others have completely rejected its implementation. Some states accepted this form of punishment because they claimed that offenses are only punishable by death, and such offenders cannot be allowed to stay in society due to their moral decay. However, research indicates that some countries/states imposed or implemented the death penalty or capital punishment for individuals due to various economic crimes such as: corruption and bribery of public servant officials, currency speculation, theft of much capital, or the embezzlement of public funds.

Further, scholars denote that 34 states and the federal government in the United States have retained capital punishment in their criminal justice system processes (Davis and Tracy 1). However, some countries do not allow the execution of minors or people below 18 years. In other countries, the law allows the execution of minors when they commit crimes that are punishable through capital punishment. However, the Convention on the Rights of the Child prohibits the execution of minors under civil and political rights (Joseph 361).

Constitutionally and per the law, the Supreme Court of the United States has been empowered to rule over the death penalty. This is because, traditionally, states have been held the responsible arm in policing and criminal prosecution, which is why many criminal trials are carried out within state courts. The execution has been suspended for some time, especially during President Obama. But in a few years since 2019, during President Trump, the capital or death penalty has gained public attention after declaring the resumption of execution for lawbreakers (Dieter 15). Capital punishment has gained popularity because, according to the constitution article I, congress has legislative powers that empower them to make some decisions under the necessary and proper clause under article I. And as a result of the necessary and proper clause, capital punishment at the federal level is established for crimes. And as a result, states that consists of various federal courts have power over crime and punishment.

According to various considerations of the constitution, Supreme Court denotes that capital punishment does not violate or breach the eighth amendment that restricts any cruel and unusual punishment/penalty for any offense. This is because the eighth amendment does not control procedural terms on when the jury should impose the death penalty. The US is the only advanced Western democracy that does not perceive death penalty as a significant human rights violation because the constitution has empowered it (ACLU para 1). Every criminal offense is punishable by law. Death penalty in the US is supported because it is believed to serve as an appropriate retribution, a deterrent, and allows individuals repent for their crimes before they are executed (Waldo and Wesley 574). It has helped much in regulating some criminal crimes in many states since offenders’ fear losing their lives when convicted or proven guilty in a court of law. However, studies have proved that capital punishment is performed considering capital punishment ethics before this form of sentencing is arrived at and executed.

Work cited

American Civil Liberties Union (ACLU). Death Penalty 101 (2022). https://www.aclu.org/other/death-penalty-101Davis, Elizabeth, and Tracy L. Snell. “Capital punishment, 2016.” Stafisfical Brief (2018).

Dieter, Richard C. “Introduction: international perspectives on the death penalty.” Comparative Capital Punishment. Edward Elgar Publishing, 2019. https://doi.org/10.4337/9781786433251.00008Gilbert, J. Valentine, Lucie Parker, and Aaron Chalfin. “Capital Punishment Research.” The Encyclopedia of Research Methods in Criminology and Criminal Justice 2 (2021): 546-550. https://doi.org/10.1002/9781119111931.ch109Joseph, Sarah. “Extending the right to life under the International Covenant on Civil and Political Rights: General Comment 36.” Human Rights Law Review 19.2 (2019): 347-368.

Rocker, Dixie. “Deterrence research.” The encyclopedia of research methods in criminology and criminal justice 2 (2021): 589-595. https://doi.org/10.1002/9781119111931.ch116Sigler, Mary. “Principle and Pragmatism in the Death Penalty Debate” Criminal Justice Ethics 37.1 (2018): 72-86. https://doi.org/10.1080/0731129X.2018.1449996Waldo, Gordon P., and Wesley Myers. “Criminological research and the death penalty: Has research by criminologists impacted capital punishment practices?.” American journal of criminal justice 44.4 (2019): 536-580.

& Donnelly

Junnarkar

capital punishment is not morally required: Deterrence