Blog Catgeory

Being an Ally to the LGBTQ+ People

Faculty, IILM University

The 21st century has brought a lot of changes in the world, ranging from technology and science to reformation in societal norms and stigmas. The LGBTQ+ has been one such aspect that has created some stir worldwide. However, the LGBTQ+ community needs more and more allies to feel accepted and comfortable. Such allies can be instrumental in raising the effective and powerful voices for LGBTQ+ equality and aid them in coming out in their respective society and help others realize the vitality of equality and unbiased behavior for everyone regardless of their sexual orientation and/or gender identity.

Most of the LGBTQ+ community members decide to come out for the first time when they are in high school or university. There is no full-proof or single way to be a perfect ally, but one can practice the multiple ways to be a more supportive teacher, mentor, friend, parent, or colleague. You can start by being open to learn, listen and educate yourself, which involves knowing the difference between sex and gender and keep yourself updated on LGBTQ+-related news and issues. Secondly, you need to start speaking up or confronting people when you hear offensive or anti-LGBTQ+ comments and let your friends, family, and co-workers know that you find them offensive and degrading.

Thirdly, stop making assumptions that all your friends, co-workers, or relatives are straight as someone you know could be looking for some support in their coming-out process, and such assumptions can meddle with space and comfort they might have anticipated. Fourthly, understand that language matters, and if you’re not sure of someone’s pronoun or label, just ask them respectfully. And, lastly don’t hesitate to apologize when you mess up or assume someone’s sexual orientation and ask for guidance which will be appreciated.

In addition, being a good queer ally begins with taking a step back and listening to the people you want to help. The LGBTQ+ people are well aware of how to liberate themselves. Therefore, by truly centering their voices, the non-queer folks can provide an allyship that will have the power to promote real and lasting change.

India: An Emerging Nation of Unicorn startups

Center for Family Business, Entrepreneurship, and Innovation

In the venture capital industry, Unicorn’s term is used to describe a startup company with a value of over $1 billion. There are more than 600 unicorn companies around the world, as of April 20211. Getting to a billion-dollar valuation is not easy and that too when the market is going through a funding crunch during the time of Pandemic worldwide. These newly-crowned Indian unicorns definitely deserve a big round of applause. With 39 unicorns, India ranks 3rd in the total number of unicorns globally. India added 2nd highest number of unicorns in 2020 after the USA. But everyone must be wondering what makes India a hub of unicorns and its record-breaking creation of unicorns every year. As a matter of pride, we can give the credit of this big achievement to India’s changing reforms and policies towards start-ups. In the recent past, various initiatives taken by the government have also favored the Indian start-ups to scale. The most important factor is the zeal of young Indian entrepreneur’s to expand and grow.

By end of 2021, India will be into the 50+ strong Unicorn club. The past record shows that 30 of 38 active Indian Unicorns achieved a $1Bn+ valuation in the last 3 years only. It is a very positive signal for the possibilities of entering new companies into the Unicorn club. We have a pipeline of start-ups with more than $50Mn+ in cumulative funding which is at an all-time high. Even in 2020 majority of those startups reported growth, with a few already marked $1Bn+ valuations in secondary markets. As per the forecast of the industry experts, India is going to add at least 9 to 11 Unicorns in the calendar year 2021 or even more.

Every budding entrepreneur should know some interesting facts about these Unicorns:

  • The Average time for a start-up to turn unicorns in India is 7-8 years which is at par with the global standards but China leads by having an average time to unicorns of 5-7 years followed by the USA with an average time of 6-8 years.
  • 50% of Indian Unicorns already have a Global market reach. These numbers clearly show the scalability which overseas market has given to Indian start-ups to turn them unicorns.
  • The Indian startup ecosystem has many Unicorns in the pipeline. There are 55+ start-ups with more than $50 million in total funding out of which 23 start-ups have raised over $100 million in funding deals.
  • Start-ups in India are showcasing vast diversifications from various sectors like – Automotive, EdTech, Advertising & Marketing Tech, SaaS, SCM & Logistics & Food Tec.
  • One-third of Unicorns added in 2020 are based out of Hyderabad, Pune, Chennai

The New 13 Indian entrants in the list of Unicorn clubs in 2021 are; Zeta, Moglix, Urban Company, ChargeBee, Gupshup, ShareChat, Groww, Pharmeasy, Cred, Meesho, Infra.Market, Innovaccer, and Digit Insurance

The prominent Investors in these Unicorns are; Accel India, Jungle Ventures, Tiger Global, Sequoia Capital India, IFC, Steadview Capital, Elevation Capital, Vy Capital, Sapphire Ventures, Insight Venture Partners, Charles River Ventures, Helion Ventures, India Quotient, Elevation Capital, Lightspeed Ventures, Twitter, Y Combinator, Ribbit Capital, Orios VP, Eight Roads Ventures, Temasek, Naspers, DST Global, Falcon Edge Capital, Elevation Capital, SoftBank, Naspers are the prominent investors in new Unicorns.

Source and references:

  1. Nasscom startup report
  2. Credit Suisse Report

LUXURY REDEFINED – Making Sustainability Fashionable

Faculty, General Blog, IILM University

Luxury has always been synonymous with the terms expensive, status, power and exclusivity. While the luxury consumer of the past was the extremely wealthy and still represents an important segment, they are no longer the only audience in town. There are younger consumers, especially millennials that are making up an increasingly large share of the luxury market.

Would this segment of consumers be interested in sustainable or ethical fashion?

Sustainability is a concept with many definitions and its application in fashion involves diverse outlooks, covering environmental impact of materials, social justice and issues concerning labor rights. A topic that is so widely covered in conferences & creative interventions around the world and yet remains a mystery to most.

It is mostly since there is a lack of knowledge of sustainable fashion and the destruction caused by the fashion world to the environment. The perception of products and their accessibility, availability and pricing also play a big role in a sort of ignorance towards sustainability.

The consumer’s mindset in a developing country like India is most interesting and different age groups and social strata of society reveal the complexities of contemporary consumption behavior.

While the discovery is slow, it is steady. This movement is gaining momentum with celebrities endorsing the cause of responsible consumer behaviour via digital media and popular brands promoting it via ad campaigns.

Even though the majority of society does not really understand or worry about the repercussions of their actions, there is a growing number that would be happier to choose products wisely. Knowledge is key to the growth of the sustainability movement to empower consumers and future designers in society. 

The more endorsements and popularity that this wave of ethical fashion gains the more people would want to adopt it and luxury would have a whole new meaning – sustainable and responsible. The design courses at IILM are geared towards inculcating these very ideas in our students.

 

 

“When the going gets tough, the tough keep teaching online”.

Faculty, General Blog, IILM University

By a total surprise, we got into lockdown, no ten-day notice, no world is coming to an end, a simple stay home stay safe alert. And from there on, came a supposedly temporary arrangement of teaching classes from zoom so that we could get over this unknown virus soon. Must admit it was so tuff, like going online for all classes, something totally unimaginable by teachers and students alike.

As all new things have a flavour of surprise, we all took the plunge and felt something different about teaching and learning from our homes. Suddenly, there was no private life, as we could bring our students to the dressy part of our house and teachers could log into their students’ private corners of the house.

Obviously, when this new normal looked like it will stay and all baking and cooking did not look fun anymore, we started getting edgy about zoom classes, scattering about attendance and participation of students in “classes”.  As Covid 19 cases started to rise, so did the pressure to continue dedicated classes and assessments, something no one had any experience with or knew how to make it look close to fair assessments.

Open book exam got a new name, in the form of online assessments and suddenly CGPA’s started blooming all over. Students who initially seemed enthusiastic to keep their cameras on slowly slipped into the mode of keeping their cameras off and when asked complained of network issues.  The world of learning and teaching was solely surviving on the speed of network connectivity as work from home and study from home became our reality.

Two years and no respite, we look to online teaching and learning to escape from growing anxiety lurking outside on streets in the name of social distancing. What was a class once filled with happy faces, dressed up in their favourites, trending the trends and catching up or bunking classes turned into no escape from online classes?

But I ask, is everything lost? Has online teaching been that bad? Well, this can be answered in many ways. Redundant old ways of teaching and rote learning found a jolt and everyone who is a part of the education system irrespective of nation and economy had to change. This change was something new and challenged a lot of beliefs of what is an academic success is and how learning can be seen besides exams.

Online learning has made it easier for students to freely access their classes, see recorded videos and go through the content to clarify doubts and grasp the subject. Resources once only available in college libraries have found comfortable outreach and sharing amongst students.

What continues to be a large concern is unstable networks, a poor economy affecting students and teachers, no protocols of ethics of online teaching and learning.

Would like to conclude by saying, pandemic took us by surprise, leaving us unsettled and then came our endeavour to be busy with classes to keep distractions at bay. Turning a new leaf in education both for educators and student’s perspective is showing fruitful results in our resolution to learn.

A Cross Cultural Perspective on Child Rearing – Student Blog – Ritwik Khurana

Campus Life, Career Development (Placement), Guest Blog, IILM Institute for Higher Education, IILM University

 

Parenting is regarded as one of the most challenging tasks for a person to take up. It requires patience, understanding, unconditional love and support. There is a quote that states “A single tree cannot grow a variety of fruits”, which implies that a person cannot possess a multitude of qualities to sustain a desirable life. But how does this translate to parenting?

There have been many stories of children who reminisced the times spent with their mothers and fathers, whereas there also have been horror stories of childhood abuse and parents who neglected their children. But overall, on average most children can provide a testament to having nostalgic and vivid childhood experiences in their adulthood. Parenting requires a person to possess the same multitudes of qualities as mentioned above, which proves this statement wrong. Humans are complex, are prone to lapses in judgement but are capable of possessing a variety of desirable and positive traits.

Universally, the challenges of Child rearing are very similar but differ in practice according to one’s culture. In todays Blog post we will try to understand the impact of parenting styles on Child rearing and mainly the cultural differences between Eastern & Western Child rearing practices. Diana Baumrind (1950s) revolutionized the existing thoughts on parenting by introducing 3 types of parenting styles, which are; Authoritative, Authoritarian and Permissive. Now let’s apply these concepts on Eastern & Western Child rearing. Countries like India, China and Vietnam are often recognized as truly Asian, because of their strong collectivistic values.

Indian parents are often typified as being “Authoritarian”, being too controlling and worried about their child’s future. This is often displayed through “High academic expectations” where these parents force their children to pursue excellence in studies and co-curricular activities. China also follows a similar model, barring cultural connotations. This attitude of parenting often stems from an excessive reliance on communal image and personal goals at the parental end, which harms the emotional and cognitive development of children.

The strength of cultural conformity and family bonds has even extended the authoritarian rights to neighbors and other adult members of the society. This often causes problems among the younger members of society, who require deserved autonomy in their youth. But on the other hand, the youth are usually well supported by their parents – emotionally & financially, until they can afford this autonomy on their own. Resulting in some members of this culture doing well for themselves. Which is not the case in Western culture.

On the other hand, a research conducted on American & Western parenting practices by Sandra Hofferth in 2015 discovered that America has higher proportions of poor and low-income children than other developed nations, and poverty explains more differences in parenting practices than family structure. It is slightly ironic, but can we infer this is as a reason for problems observed in Indian parenting, from the given statement? This statement gives us a reason to believe that the financial resources of a family in any cultural context, is the biggest extraneous variable in research conducted on Parenting & Child rearing practices. According to Hofferth’s research, the parents were performing well on average, but two aspects need improvement in American culture, as these cause a lot of developmental problems.

These are Poverty & Parental relations; Poverty and homelessness are the biggest causes of childhood abuse and exploitation in developed countries. There are many cases of resilience, but a lot of children succumb to their adverse circumstances. Strong Parental relations is a good indicator of peaceful family life, It is worth noting, moreover, that despite the preponderance of children living with two married parents at any one time, more than half of American children will spend some part of their childhood living in a household that does not include two biological parents who are married to each other.

This small overview has been presented to provide an insight into the commonly observed Child rearing practices between Eastern & Western cultures. The institution of marriage is highly regarded in the Indian culture and its impact can be evidently observed on child rearing practices in India. Whereas marriage in western cultures is often characterized as the “Next step”. It is very important to note, that when cultural contexts change the problems will also change. Countries like India & China, which have a higher density of people residing in an area, are prone to more collectivistic consumer-oriented parenting. Whereas North Americans are used to Individualistic consumer-oriented parenting. Here consumer-oriented refers to the impact of popular culture on Child rearing practices.

I hope you learned something today, and are able to take something home. Don’t get alarmed by these statistics, refer to the first paragraph of this post. Good Parenting can happen with patience, understanding, unconditional love and support!

For more Blogs on various Psychological Facets follow blog.iilm.edu.

By – Ritwik Khurana

BA Psychology

Vibrant Democratic Republic

BHARAT- A Vibrant Democratic Republic

Faculty, General Blog, , ,

We are celebrating the 72nd Republic day on 26 January 2021, the day on which India became an independent republic with a democratic system of governance. On this day when the Constitution of India, came into effect in year 1950 after being adopted by the Constituent Assembly on November 26, 1949, we are compelled to express our gratitude to the framers of the Indian Constitution. Undoubtedly, they were men of great foresight and wisdom as they have drafted this unique document which has withstood the test of time. Over the last seven decades it has seen many ups and downs and emerged successful as the largest democracy of the world.

Every country wants to be known as a ‘Democracy’, for example even a totalitarian State like China prefers calling itself a Democracy but in the real sense only few nations qualify for democracy and India is one of them. A true democracy must allow free and fair competition. Our Constitution provides for impartial elections, sine qua non for a democratic setup. A free and vibrant Media is a hallmark for democracy. Except for a brief period of EMERGENCY in India during 1975 which was a temporary aberration, our constitution fortunately has survived all the onslaughts to only emerge stronger than before.

The Indian Constitution establishes the primacy of the legislature, executive and the judiciary in their respective domain with checks and balances. The Legislature is there to point out the mistakes and abuse of power by the Executive and put effective checks. On the pattern of American Constitution; the Superior Courts have the power of Judicial Review of executive actions. The drafters could comprehend the dangers of curtailing the liberties of the citizens by the executive if its powers were not controlled by the Judiciary. Hence, our founding fathers saw the role of Supreme Court of India very significant whenever the legislature or executive exceeded their powers.

In 1970’s the nation saw the pillars of the federal structure quiver when the Government deliberately made certain amendments in the Document which were subsequently turned down by the Supreme Court as unconstitutional. In the famous Keshavananda Bharati case, the apex court pronounced that though the legislation has every power to amend the constitution, but the government in no circumstances can change the Basic Structure of the Indian constitution. The then government strongly reacted to the landmark judgement and superseded the three most senior judges to appoint the dissenting judge as the Chief Justice of India. This paved the way to the concept of ‘committed judiciary in India’ and also confrontations between executive and judiciary. This indeed posted a great threat to the Basic Structure and the smooth functioning of the Democracy.

Though the Constitution makers had a vision of keeping the federal yet unitary nature of India while crafting this document but the center and state relations have not been cordial from the onset. The Constitution of India under Article 356 provided for the suspension of State Assembly by imposing Presidents Rule which was to be exercised by the Center only in special situations of a breakdown in the Constitutional machinery of any state. Unfortunately, this provision was abused and misused by the Center yet again during the then government in exercise of their power. Many a times various state governments were dismissed until the Supreme Court finally put some restrictions on the exercise of the said provision in the famous case of S. R. Bomai vs. Union of India.

The aspiring new India chasing the dreams of her craftsmen will have to make constant efforts to strengthen the existing pillars on which the nation stands tall and does not let it wither away with the systematic subversion by the governments elected with populous majority. Let ‘We’ the people of India come and join its representatives to work at all levels in order to redefine ‘Democratic Republic, India’. The challenges are manifold but the young India will channelize all its energy into Nation Building with small initiatives, be it digital India, startup India or Atmanirbhar Bharat.

We stand United with a mission to live up to the vision of what constitutes Bharat, a union of state.

Really is it True- Do we all Think Alike?

Career Development (Placement), Faculty, General Blog, IILM Institute for Higher Education, IILM University

I was reading in the morning paper about how a game of Ludo saved our lives during the lockdown. The collective power of distracting ourselves from the pandemic glued people the world over to gaming. Obsession and now so much time on hand, made some people go back to board games, especially Ludo- the traditional four players’ game. Families hurdled up together for some fun time, given when they were free from their work from home schedule to enjoy each other’s company. Some took to phones and started playing ludo with friends and family near and far to play ludo on the app. It was all good fun and in essence, has taught many of us the virtues of living life. Pandemic was not only an eye-opener for so many of us who were living life in the fast lane but was also an insightful year to reflect and relax in life- we only get it once.

Ludo as explained by Wikipedia is a strategy board game for two to four players, in which the players race their four tokens from start to finish according to the rolls of a single die. Two, three, or four can play, without partnerships.

This game brings out the best in us- to win and go home and be happy or the worst- to keep killing other players’ tokens so that you can overtake them and win. A lot of animosities also stems up from those who are not interested in being killed and sent back to wait for a roll of dice to make a six and be released all over again in the game. This game is not for the weak-hearted, as only the most meticulous, careful, and fully aware player will make it first to home without a scratch.

Like others, I always begin the game hoping for my dice to show six so that my tokens will freely roam around the square of the board, only to occasionally meet threats from other players, who would be determined not to let my token take a peaceful walk by home, unscratched.

So, while I am rejoicing for my tokens and at the same time worried that other players may not harm me, I wonder, do we all play fair? Do we all think alike? Is it true that like-minded people think alike?

Thinking is a mental process of experiencing present events and making critical judgments from past experiences. Thinking is used almost every second of our living and most of the time engage in thoughtfulness without even thinking. It is like a habit you flow into without you realizing you are doing it (nail-biting for example).

We all display similar yet unique styles of thinking even though we can be characterized into personality types, yet something in our nature makes us individually unique. To explain how we think, I will bring in Sternberg’s ideology of thinking styles.

Sternberg (1988,1997) proposed his own theory of thinking styles, a theory he named the “theory of mental self-government”. He used the metaphor of mental self-government to portray how the human mind works. His theory postulated 13 different mental styles to manage our daily activities. To make it simpler, I would like to explain different mental styles with examples of players on a Ludo game and their strategies to win.

A legislative player will use his own method, not follow others, and look for winning moments but creatively.

An executive player will follow only a structured method and hopefully will not cheat.

A judicial player will evaluate other players’ moves and constantly comment in the game at them.

A monarchic player will spend all his energy on one token to safety than putting all his tokens in the game.

A hierarchic player will put all his tokens out in the game and make the most calculative moves to save his tokens.

An oligarchic player will be in a hurry to win and will move without looking in the game.

An anarchic player will go all out to win, unlike an executive, unlikely to see risk assessment of other players moves.

A global player may look like a loser in the beginning but will keep looking at the bigger picture than a quick win.

A local player will keep thinking, time-consuming player of the game, and take small steps.

An internal player is someone only playing for himself even if it is a group game, no partnership, no mercy to others.

External player unlike internal player is playing with everyone, will let others go at times than cutting their chance and putting them back in the box. He likes partnership.

A liberal player will keep changing his own strategies to surprise other players with unpredictable moves in the game.

Conservative player will be the predictable player of the game, everyone will know his moves even before he moves his tokens.

We like the players in Ludo have different thinking styles which we display in different scenarios when thinking critically and working through problem-solving. To make effective decisions, most of us jump from one thinking style to another, maybe from personal to professional concerns of decision making.

There is no one reason to explain this variation, but yes, some generalizations can be as to how skilled we are, varied past experiences, the seriousness of problem-solving, time at hand, and of course our temperament influences the way we think and from that thinking behave.

To conclude, thinking influences all facets of our life even when we are mindlessly doing something, say as simple as a board game. Interestingly, even if everyone knows how to play ludo, they will always play it differently than the last time; just like our thinking styles alike- yet different.

Impact of Personality and Behavioral Styles During Difficult Negotiations- Amitabh Mukherji MA PSY 2019-2021

Career Development (Placement), Faculty, General Blog, IILM Institute for Higher Education, IILM University, , , , ,

 

This article is a small effort to help one understand the science and art of negotiation and manage the negotiation processes. It suggests few insights of the same.

Negotiation is all about trading or in simpler terms, it is nothing but a type of deal one does while carrying out businesses. It is distinctive from other forms of decision-making. “In negotiation there is an explicit trade: I get some of what I want and you get some of what you want” (Kennedy 1994: 3). There is no negotiation in voids since negotiations conclude in decision-making. We must however seek to resolve matters by various means, including submission of others.

One exhibits traits, which makes us understand the personality. These traits incline a person to respond in certain ways. If one’s personality is stable enough then it could produce predictable responses to different negotiating situations during the dealings one carries out with different personalities. In turn it helps one to secure better negotiated outcomes.

According to the research by Rubin and Brown, two variables were identified to determine personality styles influencing negotiation skills. The two variables are: Interpersonal Orientation (IO), also known as social ability and social awareness. If one is high on IO then one is responsive to one’s relationship with the other negotiator and low IO leads to non-responsiveness. The other is, Motivational Orientation (MO), means one’s nature is competitive or co-operative. These variables thus give rise to Aggressive and Submissive personality styles.

There is always a likelihood of coming across difficult negotiators in different walks of our life. They may or may not agree with us and may seem less than enthusiastic. Because of certain behavioral traits, they could be labeled as mean, aggressive and lacking in manners.

So the question is how one should deal with such complicated negotiators? One may want to negotiate but the other person may not want to! Their version of a solution implies that either one gives in and provide them what they demand or end it there.

What we need to understand is that their mindset regarding negotiation is different. They adopt such aggressive behavior(s) while negotiating, possibly because in the past they got what they demanded and they confuse aggression with toughness, which in actuality is different.

Need of the hour then is, to sever the connection of the other negotiator’s stances of intimidation and winning. For that one needs to grab the attention, choose the same style of negotiation or a contrasting style and assert unambiguously that the other negotiator will not resort to coercion or bullying but will deal either through merit of the case or through trading.

At-times matching style could be risky as it can easily get lost amidst the haze of threats and insults. The main purpose of it is to create an impression that one does not possesses a submissive personality style and it also leaves open an alternative settlement route. Contrasting style could also be risky since being possibly read by the difficult negotiators as one being submissive.

One can adopt the following during negotiations:

  • Quiet and soft conversations.
  • Displaying warmth.
  • Unhurried discussions.
  • Do not hear; but listen.
  • Empathetic attitude.
  • Understand non-verbal cues.
  • Non-interference and patience during interruptions.
  • Non-responsiveness, if there is swearing by the other negotiator.
  • Non-argumentative, if there are personal attacks.
  • Ignoring threats.
  • Be non-defensive against ascribed motives.
  • No acrimonious action.
  • Positive responses, if there is overt demonstration of aggressiveness and deviousness from the other negotiator.
  • Display of humility along with firmness.
  • Affirmativeness to be displayed upon arriving at an agreeable solution based upon merits of the case and trading.

Adoption of the above effectively renders an assertive message of; one’s toughness during negotiations, that is based on the rationale; that unless one acquires something, the other will obtain absolutely nothing.

It can be well concluded that negotiations are a fundamental element in our social lives. One knowingly or unknowingly, always negotiates for resources and attention. Recent studies have brought out that Negotiation is both an art and science. Cognitive biases (leading to deviation from judgmental rationales), personality and behavioral styles, affect negotiations. Thus a little psychology backed science added with conversational arts can deliver success during difficult negotiations.

“Everything is negotiable. Whether or not the negotiation is easy is another thing.” Carrie Fisher

AMITABH MUKERJI- A Defence Officer who is also pursuing Masters in Psychology from IILM University..
Apart from being a Science Graduate, he has certifications and diplomas in Defence Management (Strategic Studies) and Cyber Law and is a qualified Assessor for selecting candidates for Defence Services.

IAS 1 Presentation of Financial Statements

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Financial Statements

Similarly, the depreciation of owned assets is added back to net income, as this expense is not a cash outflow. The next line in the income statement, after net income, displays the average number of common shares of the company’s stock that are held by investors. Next comes the firm’s earningsper share, which is calculated by dividing net income by the number of shares. The income statement makes public the results of a company’s business operations for a particular quarter or year. Through the income statement, you can witness the inflow of new assets into a business and measure the outflows incurred to produce revenue. This article will provide a quick overview of the information that you can glean from these important financial statements without requiring you to be an accounting expert.

FIRST HAWAIIAN, INC. : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

FIRST HAWAIIAN, INC. : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K).

Posted: Fri, 28 Oct 2022 12:13:06 GMT [source]

Member firms of the KPMG network of independent firms are affiliated with KPMG International. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. © 2022 Copyright owned by one or more of the KPMG International entities. All companies are facing climate-related risks and opportunities and are making strategic decisions in response – including around their transition to a low-carbon economy. Schwab does not recommend the use of technical analysis as a sole means of investment research. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. All expressions of opinion are subject to change without notice in reaction to shifting market or economic conditions.

Filing Financial Statements in the Courts

The notes typically describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to https://simple-accounting.org/ are considered an integral part of the financial statements. As with an income statement, the statement of cash flows reflects a company’s financial activity over a period of time. It shows where a company’s cash comes from and how it’s used to pay for operations and/or to invest in the future. By showing how a company has managed the inflow and outflow of cash, the statement of cash flows may paint a more complete picture of a company’s liquidity than the income statement or the balance sheet. How The Balance Sheet WorksA balance sheet is one of the financial statements of a company that presents the shareholders’ equity, liabilities, and assets of the company at a specific point in time. It is based on the accounting equation that states that the sum of the total liabilities and the owner’s capital equals the total assets of the company.

Financial Statements

A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. An often less utilized financial statement, a statement of comprehensive income summarizes standard net income while also incorporating changes in other comprehensive income . Other comprehensive income includes all unrealized gains and losses that are not reported on the income statement.

Audited financial statements 2021 (A75/

Financial Statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. For-profit primary financial statements include the balance sheet, income statement, statement of cash flow, and statement of changes in equity. Nonprofit entities use a similar but different set of financial statements. The three main types financial statements are the balance sheet, the income statement, and the cash flow statement.

  • The balance sheet provides an overview of assets, liabilities, and shareholders’ equity as a snapshot in time.
  • Our Financial reporting in uncertain times resource centre includes articles, blogs and podcasts to help you better understand the accounting and disclosure implications for your company.
  • You’ve probably heard people banter around phrases like “P/E ratio,” “current ratio” and “operating margin.” But what do these terms mean and why don’t they show up on financial statements?
  • The purpose of MD&A is to provide investors with information that the company’s management believes to be necessary to an understanding of its financial condition, changes in financial condition and results of operations.

Musing Minds- Student Blog- Ms. Ananya Suri MA Psychology

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As I sat one night brainstorming ways to do justice to this blog and introduce myself to the world of sharing musings, I channeled all of my love for psychology into a “personality type” format to kick off my journaling. I recently took the popular ’16 personality’ test online to amuse myself. It is an adaptation of the theory of psychological personality types produced by Carl Jung. It is based on 16 personality types, which Jung viewed as stereotypes. At the heart of Myers – Briggs theory are four spectrum on which one can be positioned, forming their unique personality. These are:

  • People and things (Extroversion “E”), versus ideas and information (Introversion “I”).
  • Facts and reality (Sensing “S”), versus possibilities and potential (Intuition “N”).
  • Logic and truth (Thinking “T”), versus values and relationships (Feeling “F”).
  • A lifestyle that is well-structured (Judgment “J”), versus one that goes with the flow (Perception/ Prospecting “P”)While at first I struggled with how definitive it seemed in its diagnosis and how online “personality tests” can often seem like you are reading a horoscope, I decided to be less skeptical and introspect. Isn’t it my life experiences that make me who I am? How do they put together all of my essence  into this succinct format? 

    ENFPs’ (like myself) are invigorating, independent and socially adept at navigating our worlds using an enthusiasm for exploration. This has been true for every aspect of my life. My self-esteem is driven by my ability to produce original content and come up with creative solutions. I’m inherently curious, which leaves me longing for life-changing experiences.

    During my childhood, I discovered my need for social interactions and exploration. The first pillar of my personality, extroversion (E) shone through in my formative years.

    I struggled with learning disabilities and dexterity problems as a child. Focusing in class was an uphill battle and I could be easily distracted; I found it difficult to cope with classwork and homework, and was left to deal with the same largely undiagnosed.

    Despite my struggle with academics, it didn’t hinder me from pursuing extracurricular hobbies and I focused on being a complete people’s person. All of my parents ‘couple’ friends together provided a strong childhood friends circle that I carry along with me even now, forming a family-like bond making me learn to express myself through my friendships.

    In lieu of my prospecting nature comes my passion: Psychology. The world is my playground, and I intend to explore every inch of it! My intuitive (N) side thrives while discovering the beauty of the world around us. I tend to see life as a big, complex puzzle where everything is connected, through a prism of emotion, compassion, and mysticism, constantly seeking deeper meaning.

    On the other hand, that same intuition has a darker side, which shows in my low score of (P). I often deal with anxiety for a multitude of reasons, some of which are hard to admit. While I love social interaction, it can leave me caring too much about what other people think of me. Sometimes I get too hung up on the smaller details and fail to see the bigger picture and my overthinking takes over all else. Although, my flaws are a part of who I am. My anxiety makes me sensitive, it drives me to be a perfectionist and want to improve constantly. I give my all to anything I put my heart to, and for that, I am thankful.

    Lastly, my feeling (F) side is evident in all my interpersonal relationships ,and brings out all the other factors of my personality even more, especially with my family.

    My parents voracious and infectious energies have given me an immense passion that I carry on within me (and it even sometimes drives my sister and me up the wall). I have always been in admiration of how they brought us up, constantly learning from their creative parenting. Our home has always been a very open and progressive household, sharing feelings, thoughts, and ideas every step of the way. No topic has been out of bounds, no conversation that couldn’t be shared among us four. Anything and everything was open to debate and all our voices rang loud and clear. There’s ‘never a dull day’ in the “Suri household”.

    Another central aspect of my life is my very loving husband. We traveled together in the same school bus, and like most pre-pubescent in 8th grade, we fell head over heels. What one would assume was childish infatuation was anything but that. I’m now married to the same boy who lived down the lane, except now he lives in the same room!  We got married very young because we could not be apart any longer and now as of 4 days back, we have even grown as a family with the addition of our tiny 2 month old dalmatian puppies!

    Through all my facets of life, I’m ever-changing, but I always choose to live deeply and happily, laughing often, loving always and never looking back. While personality tests may not be the gospel truth, they are a great ally for some reflection into our lives!