The Lie algebra of the Lorentz group O(3,3) admits two types of SU(2) × SU(2) subalgebras: a standard form based on spatial rotation generators and a second form based on temporal rotation ...generators. The units of measurement for the conserved quantity due to invariance under temporal rotations are investigated and found to be the same units of measure as the Planck constant. The breaking of time reversal symmetry is considered and found to affect the chiral properties of a temporal SU(2) × SU(2) algebra. Finally, the symmetry between algebras is explored and pairs of algebras are found to be related by SU(2) × U(1) symmetry, while a group of three algebras are related by SO(4) symmetry.
This paper provides a commentary on the academic literature on accounting conservatism with a view to highlighting the insights of that literature that are potentially useful for accounting standard ...setters. We begin by introducing the basic concepts of conservatism focusing on the distinction between conditional and unconditional conservatism. We then briefly discuss the objectives of financial reporting and the economics of information, paying particular attention to the role of stewardship in the Conceptual Framework, and the economic concepts of adverse selection and moral hazard. The two middle sections of the paper provide overviews of, respectively, the theoretical and empirical literatures on accounting conservatism. Having summarised the theoretical and empirical literatures, we then try to synthesis the implications of the literature for standard setters, paying particular attention to understanding the costs and benefits of conservatism, implications for the Conceptual Framework, highlighting the particular demands of public debt markets for conservatism, and explaining how accounting standards might be adapted to allow some degree of flexibility in conservative accounting choice. The final section discusses the limitations of the academic literature from the practical point of view of standard setters, and highlights areas for new research that may be of more direct value for policy-making.
Following on Part I of this work series on local kirigami mechanics, we present a study of a discretely creased mechanism as a model to investigate the mechanics of the basic geometric building block ...of kirigami—the e-cone. We consider an annular disk with a single radial slit discretised by a series of radial creases connecting kinematically flat rigid panels. The creases allow both relative rotation and separation between panels, capturing both bending and stretching deformations. Admissible equilibrium configurations are obtained by penalising these deformations using elastic springs with stiffnesses derived from compatible continuum plate deformations. This provides a tool to study both inextensible and extensible e-cone configurations due to opening of the slit and rotation of its lips. This creased model hence offers the possibility to study the e-cone away from its isometric limit, i.e., for plates with finite thickness, and explore the full range of post-buckling (far-from-threshold) behaviour as well as initial buckling (near-threshold) instability. Our local approach provides a fundamental understanding of kirigami phenomenology, underpinned by a proper theoretical approach to geometry and mechanics.
Using an international sample of 16 countries, this paper examines if analyst- and country-specific characteristics explain the variation in target price (TP) accuracy. We find that significant ...variation in average TP accuracy across countries is due to differences in accounting disclosure quality, the origin of the legal system, cultural traits, and IFRS regulation. We also find that analysts exhibit differential and persistent ability to forecast target prices accurately, which confirms that some analysts have superior TP forecasting ability.
This paper studies the relation between the quality of corporate narrative disclosure and the timeliness of goodwill impairments. We combine five measures of the linguistic content of annual report ...narratives to generate a proxy for narrative disclosure quality. To measure the timeliness of impairments, we deploy a model that relates observed goodwill impairments to the main determinants of impairments identified by prior literature, focusing especially on current period negative stock returns. We hypothesise and find that the impairments of firms with low-quality narrative disclosures are less timely than the impairments of firms with high-quality disclosures. In addition, using a signalling argument, we hypothesise, and find that the market response to goodwill impairments is more negative for firms with low disclosure quality.
Our students rely on Wikipedia on their mobile devices or laptops, since it is an extremely rich and broad resource. This article overviews the Chemistry content on Wikipedia and how students can ...learn to use it effectively as an information resource, critically evaluating content, and learning key information literacy skills. We also discuss how students’ information literacy skills can be improved through a class project where students edit Wikipedia articles. Through such projects, students may begin to appreciate where and how chemical information is generated, gathered, developed, and shared in the real world.
We examine the impact of managerial financial reporting incentives on accounting quality changes around International Financial Reporting Standards (IFRS) adoption. A novel feature of our ...single-country setting based on Germany is that voluntary IFRS adoption was allowed and common before IFRS became mandatory. We exploit the revealed preferences in the choice to (not) adopt IFRS voluntarily to determine whether the management of individual firms had incentives to adopt IFRS. For comparability with previous studies, we assess accounting quality through multiple constructs such as earnings management, timely loss recognition, and value relevance. While most existing literature documents accounting quality improvements following IFRS adoption, we find that improvements are confined to firms with incentives to adopt, that is, voluntary adopters. We also find that firms that resist IFRS adoption have closer connections with banks and inside shareholders, consistent with lower incentives for more comprehensive accounting standards. The overall results indicate that reporting incentives dominate accounting standards in determining accounting quality. We conclude that it is unwarranted to infer from evidence on accounting quality changes around voluntary adoption that IFRS per se improves accounting quality.
The parasitic protist Trypanosoma brucei is the causative agent of Human African Trypanosomiasis, also known as sleeping sickness. The parasite enters the blood via the bite of the tsetse fly where ...it is wholly reliant on glycolysis for the production of ATP. Glycolytic enzymes have been regarded as challenging drug targets because of their highly conserved active sites and phosphorylated substrates. We describe the development of novel small molecule allosteric inhibitors of trypanosome phosphofructokinase (PFK) that block the glycolytic pathway resulting in very fast parasite kill times with no inhibition of human PFKs. The compounds cross the blood brain barrier and single day oral dosing cures parasitaemia in a stage 1 animal model of human African trypanosomiasis. This study demonstrates that it is possible to target glycolysis and additionally shows how differences in allosteric mechanisms may allow the development of species-specific inhibitors to tackle a range of proliferative or infectious diseases.
This paper argues that the optimal design of accounting standards may depend on the institutional characteristics of the political and economic system. There are several varieties of capitalism, and ...it is not obvious which of these varieties is best. Moreover, the existence of different varieties of capitalism arguably promotes economic progress. This being the case the paper urges a cautious approach to the imposition of a single set of global accounting standards for all companies. The forced adoption of single form of accounting runs the risk of severely restricting the different forms of capitalism that can develop. It also privileges one particular way of doing business over alternative forms that currently exist or, more importantly, may exist in the future. In effect the forced adoption of a single form of accounting can be viewed as a form of restrictive practice that prevents alternative and superior ways of doing business from taking shape. International accounting standards optimised for stock market based capitalism are not necessarily optimal for other forms of capitalism and, since stock market capitalism has lost credibility as a way of doing business, the world may be better served by encouraging alternative forms of capitalism to develop with accounting standards tailored to their needs.
About the Authors: Matthew R. Behrend * E-mail: behrend04@gmail.com Affiliations Neglected Tropical Diseases, Bill & Melinda Gates Foundation, Seattle, Washington, United States of America, Blue Well ...8, Seattle, Washington, United States of America ORCID logo http://orcid.org/0000-0002-5664-0520 María-Gloria Basáñez Affiliation: MRC Centre for Global Infectious Disease Analysis and London Centre for Neglected Tropical Disease Research, Department of Infectious Disease Epidemiology, Imperial College London, London, United Kingdom Jonathan I. D. Hamley Affiliation: MRC Centre for Global Infectious Disease Analysis and London Centre for Neglected Tropical Disease Research, Department of Infectious Disease Epidemiology, Imperial College London, London, United Kingdom Travis C. Porco Affiliation: Francis I. Proctor Foundation for Research in Ophthalmology, Department of Epidemiology and Biostatistics, and Department of Ophthalmology, University of California, San Francisco, United States of America Wilma A. Stolk Affiliation: Department of Public Health, Erasmus MC, University Medical Center Rotterdam, Rotterdam, the Netherlands Martin Walker Affiliations London Centre for Neglected Tropical Disease Research, Department of Pathobiology and Population Sciences, Royal Veterinary College, Hatfield, Hertfordshire, United Kingdom, London Centre for Neglected Tropical Disease Research and Department of Infectious Disease Epidemiology, Imperial College London, London, United Kingdom Sake J. de Vlas Affiliation: Department of Public Health, Erasmus MC, University Medical Center Rotterdam, Rotterdam, the Netherlands ORCID logo http://orcid.org/0000-0002-1830-5668 for the NTD Modelling Consortium Introduction The neglected tropical diseases (NTDs) thrive mainly among the poorest populations of the world.
Onchocerciasis (a filarial disease caused by infection with Onchocerca volvulus and transmitted by blackfly, Simulium, vectors) probably provides the best example of impactful modelling, with its long history of using evidence—mostly from the ONCHOSIM and EPIONCHO transmission models 7—to support decision-making within ongoing multicountry control initiatives (Table 1).
Onchocerciasis modelling and policy impact. https://doi.org/10.1371/journal.pntd.0008033.t001 From the start of the NTD Modelling Consortium in 2015, there have been several other examples of impactful modelling, which could be divided over three major scales of operations: (1) developing WHO guidelines (e.g., for triple-drug therapy, with ivermectin, diethylcarbamazine, and albendazole, against lymphatic filariasis 16, 17); (2) informing funding decisions for new intervention tools (e.g., the development of a schistosomiasis vaccine 18); and (3) guiding within-country targeting of control (e.g., local vector control for human African trypanosomiasis in the Democratic Republic of the Congo 19, 20 and Chad 21).
Relative word frequencies are represented by size of the font. https://doi.org/10.1371/journal.pntd.0008033.g002 Scoring the guidance statements Authors coded the data set individually (MRB, TCP, WAS, SJdV) and jointly (M-GB, JIDH, MW), producing five independently coded sets of data (S1 Table).
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