Compare And Contrast Emily Dickinson And Much Madness Is...

The Sorrows She Wrote During the 1800, when death was very prevalent and the most talked about topic on the planet, considering all the literal hundreds of plagues and harsh famines that threatened the population on each continent, a writer emerged with a vivid idea and perception of the insane world that she lived in and the loss that she faced in her life. That writer was none other than Emily Dickinson, the lovely Belle of Amherst who was essentially a recluse who wrote of the sorrows that precede after subjection to social ostracism and the pain that it evokes. She strategically manipulated her words and diction to evoke a strong passion about her craft and her life overall during her time. She wrote of things like the great tragedies†¦show more content†¦For example, in â€Å"After great pain†¦Ã¢â‚¬  Dickinson says, in the second stanza exactly how life feels as it continues for the mourner: The Feet, mechanical, go round -- Of Ground, or Air, or Ought -- A Wooden way Regardless grown, A Quartz contentment, like a stone – She describes their movement as aimless, and careless because of their lack of motivation to struggle on, seeing life as â€Å"ought† or nothing compared to what it once was before the loss. The reader can imagine being in the position of the sufferer; very stagnant, and lifeless almost like a corpse which is what makes this form of diction so evoking. Dickinson’s â€Å"After great pain, a formal feeling comes† is a short poem about the struggles and hard transition of getting over the heartbreaking feelings that come after a great tragedy in one’s life such as losing someone; a friend, a lover etcetera. In a sense, this poem is very general, yet it cannot be applied to just any situation. It is general in the sense that those who have gone through such feelings of pain and lose know exactly what kind of â€Å"numbness† and hollow that Dickinson writes about; the feeling of not wanting or caring about what life has to offer anymore for a time once t he â€Å"great pain† has first occurred and how hard it becomes to continue daily tasks, activities and routines. This poem is specifically about confronting the pain and making sense of it, and understanding that a great pain is a veryShow MoreRelatedAp Literature Open Response Questions3435 Words   |  14 Pagesthat symbol functions in the work and what it reveals about the characters or themes of the work as a whole. Do not merely summarize the plot. 2008: In a literary work, a minor character, often known as a foil, possesses traits that emphasize, by contrast or comparison, the distinctive characteristics and qualities of the main character. For example, the ideas or behavior of the minor character might be used to highlight the weaknesses or strengths of the main character. Choose a novel or play inRead MoreAp English Open Ended Questions For Exa5390 Words   |  22 Pagesfollowing plan: 1) Compare the hero as we see him in an early scene with the hero as we see him in a scene near the end of the novel. 2) Describe the techniques that the author uses to reveal the new understanding and awareness that the hero has achieved. 1966: An individual s struggle toward understanding and awareness is the traditional subject for the novelist. In an essay, apply this statement to one novel of literary merit. Organize your essay according to the following plan: 1) Compare the hero as

Global Warming causes, effects and remedies - 1301 Words

Global warming is the greatest challenge facing our planet. It is, in fact, the increase in the temperature of the earth’s neon- surface air. It is one of the most current and widely discussed factors. It has far-reaching impact on biodiversity and climatic conditions of the planet. Several current trends clearly demonstrate that global warming is directly impacting on rising sea levels, the melting of ice caps and significant worldwide climate changes. In short, global warming represents a fundamental threat to all living things on earth. Global average temperature rose significantly during the past century. The prevailing scientific view is that most of the temperature increases since mid-20th century has been caused by increases in†¦show more content†¦As per the latest survey report the rate of melting of glaciers has seen sharp increase in recent times. Even those glaciers are affected from global warming which have been considered permanent. The shrinking of glaciers is going to pose a major problem of drinking water. The sea levels as a result of melting of glaciers have risen from 0.35 mm to 0.4 mm. Scientists have warned in their reports that most of the glaciers will disappear within a period of 15 to 25 years. It will create problems of drinking water and food grains in most of the North American countries. India is not unaffected from it. The Himalayan glaciers have shrunk about 30 per cent after 1970. The rise in sea levels is a major cause of concern. A large number of cities located in coastal areas will submerge in the sea. Besides, many island countries will ultimately â€Å"lose their existence and will be washed away from the surface of the earth. The damage of rising sea levels is diverse. Buildings and roads close to the water could be flooded and they could suffer damage from hurricanes and tropical storms. Experts believe that global warming could increase the intensity of hurricanes by over 50 per cent. In addition, as the sea rises, beach erosion takes place, particularly on steep banks. Wetlands are lost as the level rises. Rise in atmospheric temperature will lead to the outbreak of air ¬borne and water-borne diseases. It would also contribute toShow MoreRelatedGlobal Warming : Causes, Effects And Remedies1748 Words   |  7 PagesDisclaimer Privacy Policy Contact Us 1309 Words Essay on Global Warming: Causes, Effects and Remedies by Vishal Global warming is the greatest challenge facing our planet. It is, in fact, the increase in the temperature of the earth’s neon- surface air. It is one of the most current and widely discussed factors. It has far-reaching impact on biodiversity and climatic conditions of the planet. Several current trends clearly demonstrate that global warming is directly impacting on rising sea levels, theRead MoreCsr Activities Influencing The Environment Change879 Words   |  4 PagesGlobalization and economic liberalization. This is how the CSR developed. 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Agency cost and ownership structure in aim traded companies Free Essays

Introduction The aim of this chapter is to explain and discuss a number of prior researches that have been developed in relation with agency cost. The literatures are grouped into four parts based on their different research area. The first part gives the overview of Alternative Investment Market (AIM). We will write a custom essay sample on Agency cost and ownership structure in aim traded companies or any similar topic only for you Order Now Subsequently, the issue of corporate governance in AIM companies will be discussed. The next part will focus on the causes of agency problem. Both direct and indirect measurement of agency cost, include asset utilisation, operating expense and the firm’s performance, will be detailed analysed in the final part. Overview of Alternative Investment Market Alternative Investment Market (AIM) is the world’s leading market for smaller and growing companies. It helps them to raise new capital and allowing their shares to be traded widely. Since it was launched in 1995, over 3000 companies from across the world have joined AIM and a large proportion of them are in oil and gas industry. Its admission requirement and on-going rules are less onerous. For example, there is no requirement on prior trading, minimum public float or market capitalization. In fact, to be admitted to AIM, a firm is only required to have the support from a nominated advisor (Nomad). Subsequently, the only disclosure obligation for the firm is the general duty of disclosure requiring information which is reasonably considered to be necessary by the issuer which will enable investors to have a full understanding of the applicant’s financial position. AIM membership roles were thus kept simpler for encouraging a wide variety of companies to join, keeping c apital rising and reducing membership cost. However, a SEC commissioner, Roel Campos likened AIM as a casino, and he stated that 30% of the issuers that list on AIM are gone within one year (Bawden Waller, 2007). This comment has aroused great amount of abjections and London Stock Exchange (LSE) claimed that the only 2% companies go into liquidation each year. Corporate governance in AIM companies AIM is crucial for investor’s confidence to the market and companies’ significant failures on AIM market would have a negative effect on the overall confidence in the UK market. A consequence of the deliberately light regulatory burden placed in AIM companies means that they are not obliged to abide the UK’s Combined Code (2006). However, based on the UK’s Combined Code, the Guidelines on the Quoted Corporate Governance for AIM companies have been produced by Companies Alliance (QCA). According to the wide range of interviews and detailed analysis of the corporate governance statements in the annual report and accounts, Mallin and Kean (2008) found the majority of their sample AIM companies disclose some basic elements of good governance practice, such as including a corporate statement, identifying the directors and their responsibilities, and splitting the role of chairman and the CEO, and the presence of board sub-committees. However, their sample of AI M companies did not disclose as much corporate governance practice as they were expected by the QCA Guidelines’ recommendations. Some interesting results were given by the regression of the firm and market related factors on the disclosure score. Firstly, the young AIM companies tend to disclose more of their governance practices than the older ones. Secondly, larger companies disclose more than smaller ones. Thirdly, by the presence of the institutional investors has influence on the disclosure levels. Subsequently, the higher gearing ratio of the company, the lower disclosure level there will be. It also suggested that the AIM companies with no long-term debt may be required better governance structures to protect the claims of equity investors, because there are no debt holders to monitor the companies. In addition, the board size has positive impact on the reporting of governance practice and the companies with small board are less likely to obey to the QCA Guidelines. Th erefore, the efficiency of corporate governance in AIM companies is related to the age of companies, size, gearing ratio, debt, as well as board size. The causes of agency problem When discussing the ownership of an organization, ‘agency problem’ is an inevitable vocabulary. According to Jensen and Meckling (1976), the agency relationship is defined as a contract between the principal(s) and the agent who is given some decision making authority to run the firm on the behalf of principal(s). In fact, for majority of companies, both agent and principals are utility maximizes. Consequently, the agent will not always act in the interest of principal. To mitigate the conflict in interest between both parties is a big issue in corporate governance. Besides establishing appropriate incentives for the agent, monitoring cost will be designed to limit the aberrant activities of the agent. In some situations, the agent needs to pay to expend resources (bonding costs) to guarantee he/she will not take the actions that will harm the principal’s interest or to ensure that the principal will be compensated if the agent does take such actions. Additionally, there will be some divergence between the agent’s decisions and those decisions which would maximize the principal’s welfare. The reduction in the principal’s welfare caused by thus divergence is also a cost of agency relationship which is referred by Jensen et al. (1976) as ‘residual loss’. They also stated that the costs of deviation from value-maximization decline as the management ownership rises. As their stakes rise, managers pay a larger part of these costs and are less likely to squander corporate wealth. However, limited direct evidence exists on the magnitude and extent of the actual costs with the agency problem. The measurement of agency cost Direct measurement Ang et al. (2000) analyzed the how agency cost is affected by the firm’s ownership structure, number of outsider managers and non-manger shareholders and external monitoring by banks. They measured firm’s agency cost with two measures, sales to asset ratio and expense to sales ratio. They argued that agency cost can be directly measured by assets-to-sales ratio as it measures the efficiency with which management uses the firm’s assets to generate sales. A high ratio reflects that the assets are generating significant sales and therefore indicates low agency cost. Conversely, a low ratio shows that manager makes poor investment decisions, exerts insufficient effort, resulting in low revenues, and consumes excessive unproductive assets, such as automobiles, fancy office space and resort properties. The expense ratio is the operating expense scaled by annual sales. It is a measure of how effectively the firm’s manager controls operating cost, including excess ive perquisite consumption and other direct agency cost. In contrast to the sales-to-asset ratio, agency cost is in line with the expense ratio. Banks usually require managers to report results regularly and honestly; consequently, managers may be forced to run the business efficiently. Thus, bank monitoring complements the monitoring of managers by shareholders, thereby reducing owner-manager agency cost indirectly. Ang et al. (2000) utilized a sample of 1708 small corporate from the National Survey of Small Business Finances (NSSBF) database and found agency costs are significantly higher when an outside manager manages the firm and when there are more non-manager shareholders. In this situation, managers’ ownership share and monitoring by banks may be a helpful corporate control mechanism that can decrease agency costs. Singh and Davidson (2003) adopted the approach used by Ang, Cole, and Lin to study large firms and sales, general, and administrative expenses were applied to measure agency cost instead of total operating expenses. Moreover, they analysed the role of corporate leverage in influencing the agency cost experienced by the large corporations instead of the banking relationship because large firms have larger access to the public debt market and therefore less depend on bank financing. They found that higher managerial ownership does positively influence asset utilization efficiency which was in line with result of Ang, Cole, and Lin. However, excessive discretionary expenses cannot be decreased by such ownership. Additionally, larger board size and outside block ownership does not improve the efficiency of a large corporation. However, this measure has three potential drawbacks. As McKnight and Weir (2009) suggested, sales may not actually come from profitable activities so sales may not be consistent with shareholders welfare. Secondly, cash flows that generated by the sales may being expropriated instead of being distributed to shareholders. Thirdly, as Coles et al. (2005) stated, productivity can vary even between firms within the same industry. Generally speaking, Ang et al. (2000) and Singh and Davidson (2003) provided a useful indicator of agency costs. Jacky Yuk-Chow So (2005) noticed that in Ang, Cole, and Lin’s study, ownership variables and external monitoring variables are highly significant statistically when a single regression is applied. However, some of these variables, such as family ownership and a banking relationship become insignificant when they are regressors of the multiple regressions. Therefore, he focused on the combined effect of expense ratio and asset-to sale ratio to measure agency cost using the NSSBF database from 1993 survey. This combined effect was analysed using both internal and external control variables. Debt-to-asset ratio and ownership variables were applied to study the impact of internal corporate control and the firm’s relationship to its bank was as proxies for external corporate control. Additionally, a dummy variable was also employed to capture the industry effect. Jacky Yuk-Chow So proposed that, the ‘combined effect’ approach implies that cash flow is a more app ropriate measure of managerial performance since it captures not only efficiency, but also leverage, which is measured by the debt-to-asset ratio. The ordinary least squares (OLS) method and seemingly uncorrelated regression (SUR) were used to test his hypotheses and found out firms in manufacturing industry tend to have the highest agency cost; family ownership more appropriately resolves the agency problem; cash flow reflect the joint impact of agency cost and efficiency; agency cost increases when there are more non-shareholder managers; the number of banks involves and the length of the bank relationship do not have significant impact to the agency cost. Indirectly measurement Jensen (1986) paid attention to the conflicts of interest between shareholders and managers over payout policies when the organization generates large free cash flow, which is the cash flow in excess of that requires to fund all projects that have positive net present value when discounted at the relevant coat of capital. He stated that agency costs will increase when high free cash flows are combined with poor growth opportunities and hence large free cash flows suggest greater managerial discretion and higher agency costs. Therefore, motivating managers to disgorge the cash rather than investing in low-return project or wasting it on organization inefficiencies is a puzzle of many firms. This theory explains the benefits of debt in reducing agency cost of free cash flows and how debt can substitute for dividends. Managers may increase dividends or repurchase stock or even announce a ‘permanent’ increase in dividend to control the use of free cash flow. However, such pr omises are weak since the dividends can be reduced in the future. In fact, the organization will be punished if dividend is cut with significant stock price reduction is consistent with the agency of free cash flow. Debt enables managers effectively bond their promise to pay out future cash flows. Thus debt reduces the agency cost of free cash flow by reducing the cash flow available for spending at the discretion of managers and can be an effective substitute for dividends. The interaction of free cash flow and growth prospects are used to measure of agency cost in many previous literatures. Opler and Titman (1993) stated that firms that have good growth prospects are more likely to be better managed. They are also less likely to have excess free cash flows because the available cash will be spent on positive net present value projects. Thus, as Jenson (1986), Doukas, Kim, and Pantzalis (2000) argued, agency costs may be regarded as a function of the interaction of growth opportunities and free cash flow. Firms that combine high free cash flow and low growth prospects can be regarded as suffering from high agency costs. Therefore, control function of debt is more important in thus organizations. Acquisitions are one way in which funds can be spent by managers rather than distributed to shareholders. Free cash flow theory (Jensen, 1986) predicts acquisitions decrease, rather than increase, shareholder wealth, particularly from the perspective of the acquirer’s shareholders. There is a significant literature which is in consistent with this theory. Servaes (1991) and Houston, James and Ryngaert (2001) have found significant negative short run returns to acquirers. Agrawal, Jaffe Mandelker (1992) undertook a thorough analysis of the post-merger performance of acquiring firms, measured by the stock market performance of a large number of acquiring firms over a long period of time. They concluded there is a strong evidence of long term underperformance following merger and this result is supported by Kohers and Kohers (2001). Accounting studies such as Sharma and Ho (2002) also show poorer post-acquisition performance. Finally, the survey done by Kelly, Cook, and Spitzer (1999) provide evidence that 53% of acquisitions were believed to have destroyed value. Given the extensive evidence that indicates a lack of positive returns to acquiring firms’ shareholders, it can be concluded that acquisitions can represent agency costs as directors use funds on negative net present value projects. Demsetz (1983) recognized, when a manager owns a small stake, market discipline may still force him toward value maximization. In contrast, a manager who controls a substantial fraction of the firm’s equity may have enough voting power or influence more generally to guarantee his employment with the firm at an attractive salary. In this case, manager may indulge his preference for non-value-maximizing behaviour. This Entrenchment hypothesis predicts the agency may increase and corporate assets can be less valuable when managed by an individual free from checks on his control. Morck et al. (1988) investigated the relationship between management ownership and the market value of the firm which is measured by Tobin’s Q. They found that Tobin’s Q increases as the board ownership increases from 0% to 5%, declines as the ownership rises further to 25%, and then continues to rise slowly when the board ownership rises beyond 25%. The increase of Tobin’s Q with ownership can be explained the convergence of interests between managers and shareholders, while the decline reflects entrenchment of the management team. The results confirm the conclusion that imposing a linear relationship between profit and the ownership by large shareholders is not appropriate. They also found that the presence of the founding family adversely affects Tobin’s Q in older firms, where the entrepreneurial of the founder might be less valuable. Conclusion The perspective of the development of AIM is optimistic. Mitigating the agency cost is a core part in corporate governance. Based on previous study, agency costs are higher when an outside manager manages the firm and when there are more non-manager shareholders. Managers’ ownership share and monitoring by banks may be a helpful corporate control mechanism that can decrease agency costs. However, imposing a linear relationship between profit and the ownership by large shareholders is not appropriate. The decrease of free cash flow will also decrease the agency cost. References Agrawal, A., Jaffe, J.F. Mandelker, G.N., 1992. The Post-Merger Performance of Acquiring Firms: A Re-Examination of an Anomaly. Journal of Finance, 47, 1605-1621. Ang, J., Cole, R., Lin, J., 2000. Agency Costs and Ownership Structure. The Journal of Finance, 55(1), 81–106. Bawden, T. Waller, M., 2007. London vs. New York: top US regulator attacks AIM ‘casino’. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1490202.ece (accessed: 14 Jan 2011). Coles, J., Lemmon, M., Mescke, J., 2005. Structural Models and Endogeneity in Corporate Finance: The link between managerial ownership and corporate performance. Arizona State University working paper. Demsete, H., 1983, The Structure of Ownership and the Theory of the Firm. Journal of Law and Economics, 26, 375-390. Doukas, J., Kim, C., Pantzalis, C., 2000. Security Analysts, Agency Costs, and Company Characteristics. Financial Analysts Journal, 56(6), 54–63. Houston, J., James, C., Ryngaert, M., 2001. Where do merger gains come fromBank mergers from the perspective of insiders and outsiders. Journal of Financial Economics, 60, 285–311. Jacky Yuk-Chow So, 2005. Agency Costs and Ownership Structure: Evidence from the Small Business Finance Survey Data Base. Texas AM International University working paper. Jensen, M., Meckling, W, 1976. Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. Jensen, M. C., 1986. Agency Costs of Free Cash Flow, Corporate Finance and Takeovers. American Economics Review, 76, 323–339. Jensen, M. C., 1993. The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. Journal of Finance, 43(3), 831–880. Kohers, N., Kohers, T., 2001. Takeovers of technology firms: Expectations vs. reality. Financial Management, 30, 35–54. Kelly, J., Cook, C., Spitzer, D., 1999. Unlocking Shareholder Value: The Keys to Success. New York: KPMG LLP. McKnight, P. J. Weir, C., 2009. Agency Costs, Corporate Governance Mechanisms and Ownership Structure in Large UK Publicly Quoted Companies: A Panel Data Analysis. The Quarterly Review of Economics and Finance, 49, 139–158. Opler, T., Titman, S., 1993. The Determinants of Leveraged Buyout Activity: Free Cash Flow vs. Financial Distress Costs. Journal of Finance, 48, 1985–1999. Servaes, H., 1991. Tobin’s Q and the gains from takeovers. Journal of Finance, 46, 409–41. Sharma, D., Ho, J., 2002. The Impact of Acquisitions on Operating Performance: Some Australian Evidence. Journal of Business Finance and Accounting, 29, 155–200. Singh, M., Davidson, W. A., 2003. Agency Costs, Ownership Structures and Corporate Governance Mechanisms. Journal of Banking and Finance, 27, 793–816. Morck, R., Shleifer, A. Vishny, R. W., 1988, Management Ownership and Market Valuation. Journal of Financial Economics, 20, 293-315. Mallin, C. Kean Ow-Yong, 2008. Corporate Governance in Alternative Investment Market. The Institute of Chartered Accountants of Scotland. How to cite Agency cost and ownership structure in aim traded companies, Essay examples

The Intended To Provide A Detailed Interpretation In Accounting

Question: Discuss intended to provide a detailed interpretation in Accounting? Answer: Introducation: The report is intended to provide a detailed interpretation on the topic Half a Defense of Positive Accounting Research. In this discourse the emphasis has been given on the theory of positive accounting with major focus on research program varied intends to form a casual description of human behavior as it has been prescribed in the accounting framework rather than taking into consideration the concept of PAT in accounting (Soin and Collier 2013). In addition to this, the present segment is seen with a wider positivist research association with various types of deficiencies which is identified in real practice. Hence the present study brings the most complex elements in the casual development of several speculative models which shows excessive dependence after taking into consideration the hypothesis of the study. It further lacks the attention of the present and the numerical values of the parameters (Quinn 2014). The researchers further impede evaluate the advantages and disadvantages associated to positive accounting approach. It is aligned with the epistemology and ontology. With respect to the present context the review of several loopholes in the positive accounting has been done in the research project. The study has been further conducted to do a critical analysis of each and every element which is entirely stated in the conclusion of the report. The theoretical framework has been further about the show the significant than the limitations of the articles (Wagenhofer 2016). Summary of the article In the given article, the research has been able to investigate the various types of relations associated to positive accounting approach in the accounting research. The accounting research with the positive approach is seen to be linked with various types of broader intellectual projects which analyses the cause and effect relationships. Furthermore, there have been several deficiencies in the present positive accounting approach and this has been rightly illustrated in the auditing literature. The loopholes in the positive research for the accomplishment of present scientific goals have been done after selecting the most appropriate illustrative papers associated to the research. The description provided by Kuhn, has been able to associate the various sections of normal sciences which suit the theory of positive accounting. It has an further noted that the prospects of the Kuhnian revolution has been duly mentioned which will assist in accomplishment of positive accounting research (Shields 2015). The research is based on the Popper criterion has been further able to highlight the notion that induction is not alone is not sufficient for measuring the accuracy in a given theory. In other context, the article is able to provide a brief overview of the falsification of positive accounting theory. In total there has been four glasses of description which has been identifying form of external effects, and our measurements and internal effects and the various types of elements associated to inefficiency in the relativity theory (Contrafatto and Burns 2013). The particular article is able to show the logical association with hypothesis testing which has been noted with the dilute version of Popper acquisitions. The rationale for this is due to every single test is out of 20 which can be wrongly rejected at 5% significance level (Miller and Power 2013). Research Questions or Hypothesis The main form of the research questions for the validity of the positive accounting research has been given below as follows: H0: The existence of universe persists beyond the imagination level of an individual H1: The events taking place have proper reasons for my part of the universe as well H2: The individuals can gather high level of reliable source of the data related to global happenings with the help of vigilant observation H3: Motive of intellectual property used for making use of the observations for achieving a global understanding of the universe with particular relevance to causation The first hypothesis is associated to the operation of rational self-interest and the interaction with other parties will express their opinion. The necessity of the second hypothesis is seen with scientific epistemology and ontology and overall depictions made for the research and positive accounting which is not identical with accounting research. The third hypothesis is able to discuss the falsification is along with hypothesis test for determination of actions validity. The final hypothesis is able to show the necessary models to focus on the measurements. This is associated to mental models which are used for mapping of the casual procedure and documents in the universe (Bromwich and Scapens 2016). Theoretical Framework The various types of theoretical framework have proved to be conducive in meeting the necessary objectives set for the purpose of the research. Instances of positive research in accounting The balanced self-interest operation is seen to take place between the parties in which the outcome of the accounting phenomena is defined through express contracts in various types of business concerns. In addition to this, this has been seen to cover the various types of accounting choices where the managers of the organization reports and conducts various types of pricing based decision with the use of regulations prescribed under standard-setting and advice for professional academic practitioners. It is conducive for considering the fact in data mining the various types of information assisting the investors during taking the investment decision. The actions have been reduced through the behavior of the individuals who are seen to be rational and did not include in the theory of positive accounting. In various instance the article has been able to assist in identification of several drawbacks after extensive evaluation of the research articles (Van der Stede 2015). On the other hand, a thorough investigation of the various elements is seen to take place in the absence of coherent behavior for the accounting researcher. It has been further observed that the accounting settings can take place even when the coherent behavior is absent. This particular method is seen to be used by the audit professionals during placing of judgments. In this manner, the managers are able to determine system performance evaluation. In several instances it has further assisted in depicting the program associated to positive research which has Fido use in compared to the positive accounting theory. In many research studies that can be specified that for gaining an appropriate insight related to accounting phenomena it is important to follow scientific research of accounting. Hence it is implied that superior measurement tools needs to be used to give research and enhanced quality of decision-making process in the long run (Scapens 2016). Scientific epistemology and ontology The conceptualization of epistemology is identified as the field of scientific research which is seen to give an augmented focus in the explanation of various types of approaches which are available for gaining important insights of the entire world. On the contrary, the ontology is seen to identify the accusation of answers for the questions. In the first instance, the human agency is seen to be socially developed nature with the roles, as there has been close association of the social art which does not have an objective subsistence that is devoid of human beings they are participants and activities are not proposing any rational activities. It needs to be further understood that art cannot be devoid of the experiences associated to human beings and explanations which is given to the participants. There have been several complexities which takes place on the ontological and the epistemological agendas in order to have a proper knowledge on the process of acquisition of accounting p henomena otherwise it can be considered as a futile effort (Hopper and Bui 2016). Some of the problems have been found during storing of the underlying reasons. The first problem is associated with existence of research streams with diverse range of objectives in a certain period of time. The second issue has been identified related to the agency. This has been identified as the main rationale for why human beings pose their individual will. The actions of the human beings actually result in causes which are not at all acquiescent to scientific theory. In addition to this it is necessary for describing the general trend where auditors and accountants behave in a particular manner. Hence, there has been several behavioral causes which cannot be identified in this world (Messner 2016). Need for an effective positive research program The main need for the effective research program has been identified to resolve the current issues in the accounting. Based on the given article it has been understood that there is a need for stringent test of vulnerable models so that they can be careful evaluation of variable measurement. The necessity of the analytical model will be assisting in the formation of theoretical models. The implementation based on the analytical model in positive accounting research needs to consider the preoccupation where swings from the tractability and plausibility (Salterio 2015). It has been for the suggested that there needs to be augmented focus on the measurement rather than only focusing on test procedures. It has been further observed that in accounting, there are several biasness noted with relevance to strong publication against the dimensions which exudes the linkage to the associated theory. The main rationale for this has been identified because of shortage of resources and on a availa bility of various types of required resources at the same time in accounting (Mittendorf 2015). Significance and Limitations of the article Some of the main significance has been noted in form of which exists between the current practices and the need for making relevant contributions to the broader intellectual program. Due to this there has been absence of system optimization which is essential in providing the rationale for insights associated to scientific research where it validates the participation of groups of accounting. In addition to this, they research has helped in several ways to provide more reliable theoretical models. Hence, positive accounting research is discerned as one of the ramifications of quantitative models which is minimized for statements of projected trend present among two variables (Malmi 2016). The main limitations of this article show that the research will not be able to contribute anything to the awareness of human behavior in the current accounting phenomena. The main rationale behind this is due to the lack of acquisition of real-life data from relevant sources. Furthermore, there have been several limitations associated with an article which shows that there is a lack of adequate primary and secondary data which affects the quality of the research to a great extent (Nrreklit 2014). In this case, the researcher has been able to make the inferences with the statement of authors who had their own opinion based on positive research accounting. Therefore, it has been observed that the quantitative aspects has not been explained in an appropriate manner, which is very essential in the present era, as it assists in estimation of the future growth of the organization in the long run (Panaretou, Shackleton and Taylor 2013). Conclusion The study can be concluded by stating that a given article is aimed to analyze the various types of contexts of the research based on an epistemology as well as ontology of the positive accounting research. The study has been further able to identify the loopholes in existing in the current system and the techniques which has been applied to overcome the issues at the same time. The main recommendations to the researcher has been able to show that there are some theoretical models which are used in the articles needed to formulate the research and give a detailed testing to the accounting variables. In addition to this requirement has been also seen far better use of the measurement tools for rigorous testing of the different types of theoretical models. The importance of the concepts has been seen to be implemented after conducting the findings of proxies it is associated with the present reliable sources. 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