Citation paper Essay Example | Topics and Well Written Essays - 750 words

Citation paper - Essay Example Streets of South Bronx, New York in the 1970s. This is a time in the American history when racism was still a force to reckon with. It was initially popular with the African-American youth with whom it was identified. Evidently, the term hip hop was coined by Keith Cowboy, a popular figure associated with Furious Five and Grandmaster Flash. After its invention, hip hop music became so popular especially due to the throwing of block parties which had become a prominent phenomenon at the time. Later, it transformed from a mere music genre into a culture. This cultural movement was mainly popular with the black youth who were still relying on it for changing the societal political, linguistic and artistic thought. Today, it is not restricted to the African-Americans only. Instead, it has become an accommodative culture that cuts across the divide. In fact, it is used by people from diverse racial, ethnic and religious backgrounds to combat crime and advocate for harmony in their midst. The article stresses that hip hop is a very important culture in the society. It has a lot of contributions to make not only to the youth, but to the entire society. First, it has been used to empower the youth. As a commercial activity, hip hop has been used by the youth to help them to improve their communication skills and creativity. Meaning, it instills critical life skills into them. These include discipline and hard work. For instance, as artists, they need to come up with strategies to appeal to their fans and satisfy their diverse needs. Besides, hip hop culture has been of much benefit to the society since it used to fight the numerous challenges facing different people in the society. just like it was done during its earlier stages, hip hop has helped in advocating for change. Therefore, it has been used by the youth to fight for the availability of shelter, education, job

Responding to GASB Requests for Public Comment Essay

Responding to GASB Requests for Public Comment - Essay Example Therefore, it is greatly relevant to release the exposure drafts for public commentary before they get implemented by the government. The major benefit of exposure drafts is primarily to improve financial reporting by state of local government pension plans. This would help improve the effectiveness of the obtainable principles of accounting and fiscal reporting for drafted pensions. When the public are aware of these drafts, it opens a wide room for recommendations for them, thus providing the concerned bodies such as the local government and the respective institutions to make appropriate decisions regarding all the citizens’ opinions (GASB, 2011). This further encourages transparency between the government and the citizens of a nation and its citizens. The benefits of exposure drafts exist in the inter-period equity and the supporting statements of accountability which is highly essential to the government as it facilitates easy cooperation for the implementation of the rel evant policies concerning employees for a particular country (GASB, 2011). This would ease the intensity with which different employees are to be paid considering various logistics involved in the decisions made. Through these measures, new and effective accounting and financial reporting standards would emerge. ... Critical elements of the exposure draft The critical elements of the exposure draft are the key parts of the draft that needs to be looked at by the citizens, especially when they are giving their views and observations. This will help the financial and accounting board in implementing the new standards effectively. First, a defined benefit pension plan should present a statement of a plan net position which includes various information about plan assets, liabilities, deferred outflows and inflows of resources and the net position are considered as per end of the reporting duration (GASB, 2011). The benefit pension plan should also contain a statement of changes in a plan net position that incorporates information such as additions to, deductions from and the net increase or decrease in plan position of the net during that period. The defined pension plan schedule should also be able to show the measurement of the net pension liability of employees. The net pension liability of the e mployee is determined as the total pension liability of the employer measured in conformity to total pension liability, timing and frequency of the measurement, assumptions on selection, project of benefit payments and ac considerate discount rate. When all these aspects are collectively considered then it becomes effective to understand and interpret the financial information presented. Consequently there should an element of the effective date and transition which is effective for financial statements for periods commencing next year thus the plan should encompass a single employer pension plan, plan net pension as per the first fiscal year reporting (GASB, 2011). Therefore, it is should be noted by the board that effective dates address the user’s needs considering the information