Leadership Distinguishing Leadership From Management

â€Å"Leadership is one of the most observed and least understood phenomena on earth† (The Nature of Leadership: Distinguishing Leadership From Management, 2013). In the last eight weeks this statement has become abundantly clear. The art of leadership is indeed a skill that has to be learned over time. Many leaders are in roles that portray the head of the body, however, many people that are in a leadership role do not fulfill the criteria that is needed to be a leader to the people that they are attempting to motivate. There are many traits that make a leader who they are. Not only do leaders serve as a representation of the company but they need to have the vision, drive and foresight of the company in order to be able to manage their unit effectively. For this assignment, choosing someone that represented a true leader was more challenging than was expected. Having worked in many different areas of nursing and not seeing true leadership before made me wonder if it was even possible to find someone that represented a leader. My director Barbara Creel is an RN that has been a nurse for thirty-five years most of which has been in a leadership role. She has a passion for hospice that has rarely been witnessed and it does not hurt that she whole heartedly believes in the company that she works for. She cares about her staff and tries to inspire them to have imagination, and positive attitudes, as well as affirms their purpose for their position. She also advocates, not only forShow MoreRelatedEssay on The Difference Between Management and Leadership924 Words   |  4 PagesManagement: The act of directing and controlling a group of people for the purpose of coordinating and harmonizing the group towards accomplishing a goal beyond the scope of individual effort. Management encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. The verb Manage comes from the Italian maneggiare (to handle ? especially a horse), which in turn derives from the Latin manus (hand). The French word mesnagementRead MoreDifference Between Character And Characteristics, Situational Theory And The Path Goal Theory1254 Words   |  6 Pagesthe Path-Goal Theory. I will give an assessment of how the application of each can enhance my leadership effectiveness. I will cover how it has made me rethink preconceived ideas about what it means to be a leader to flowers. I will focus on the relationship between leader, follower and situations. 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Course Objectives: The objectives of thisRead More Transformational Leadership Essay examples847 Words   |  4 Pages James MacGregor Burns has defined leadership as â€Å"leaders inducing the followers to act for certain goals that represent the values and the motivations – the wants and needs, the aspirations and expectations – of both leaders and followers† (Burns 1978. p.19.) The concept of leadership as a whole encompasses different explanations, theories and leadership styles and has been popular not only from the organizational perspective but in the educational and political context as well. This essayRead MoreMng301 Strategic Management Possible Questions1462 Words   |  6 PagesUNISA Strategic Management Workshop Knowing the answers to all of these questions (seventy-six in total) will guarantee you outstanding marks in the final examination as they represent the Strategic Management course (up to chapter six) in its entirety. Therefore virtually every question that can be associated with the course material thus far has been covered. Please therefore answer all of them in your own time in order to prepare yourself for the pending examination. Once you have done soRead MoreMarketing Plan For The Federal Office Of Family Assistance1190 Words   |  5 Pagesco-branded identity, if the intent is to continue receiving funding for it apart from that for the organization. Remembering that a brand is more than simply a logo, this guide is offered to help you understand and develop not merely a symbolic brand, but rather a living brand that is constantly growing in popularity and value among your stakeholders. Then, it will be possible to sustain your program beyond current funding from the federal Office of Family Assistance (OFA). As you may know, your OFA ReadinessRead MoreA Long Standing Fascination With What Makes A Leader?1201 Words   |  5 Pagesthe biggest questions still remaining from all those studies is, â€Å"what is leadership?† Rost (1995) states that while there are several problems in studying leadership, the first problem is there is no commonly accepted definition or everyone is expected to use their own. Rost goes on to state that 300 people reading the same article on leadership could likely result in 301 different ideas on what leadership is with the readers and the author defining leadership differently. Keskes, stating that thereRead More What Makes Jack Welch an Effective Leader? Essay971 Words   |  4 PagesWhat Makes Jack Welch an Effective Leader? ---ideas from the article â€Å"Will Legacy Live On?† Before I talk about what makes Jack an effective leader, I want to explain briefly why I chose him as my study subject. Why do I like him? Jack Welch created a new model for business leaders everywhere. His genius leadership and management techniques are an example to anyone aspiring to a successful career. Why is he so famous? He became the youngest CEO and Chairman of one of Americas biggest

Destiny, Fate, Free Will and Free Choice in Oedipus the King

The Concept of Fate in Oedipus Rex To the first-time reader of Sophocles’ tragedy, Oedipus Rex, it seems that the gods are in complete domination of mankind. This essay will seek to show that this is not the case because the presence of a tragic flaw within the protagonist is shown to be the cause of his downfall. In the opening scene of the tragedy the priest of Zeus itemizes for the king what the gods have done to the inhabitants of Thebes: A blight is on our harvest in the ear, A blight upon the grazing flocks and herds, A blight on wives in travail; and withal Armed with his blazing torch the God of Plague Hath swooped upon our city emptying The house of Cadmus, and†¦show more content†¦Except for Jocasta, no one in the drama harbors even a trace of doubt about the supreme powers of the gods and the infallibility of the oracle at Delphi. What about the question of the influence of the gods on the lives of men? Do the gods use predetermination in the lives of men? Such might seem the case since Laius did everything in his power to refute the oracle’s claim that Laius’ son would kill the father and marry the mother; and since Oedipus in Corinth did everything in his power to escape the oracle’s prophecy that he would kill his father, whom Oedipus at that time thought was Polybus, and marry his mother. Since neither Laius nor Oedipus nor Jocasta were able to change their situations despite their best efforts, does this mean that they lacked free will and that the gods determined their lives? Oswald Spengler in â€Å"Tragedy: Classical vs. Western† would seem to think so: . . . what is named by us â€Å"conjuncture,† â€Å"accident,† â€Å"Providence,† or â€Å"Fate,† . . . is just that of which each unique and unreproducible soul-constitution, quite clear to those who share in it, is a rendering. . . .Our tragedy arises from the feeling of an inexorable Logic of becoming, while the Greek feels the illogical, blind Causal for the moment – the life of . . . Oedipus stumbles without warning upon a situation (20-21. Another critic would probably feel about fateShow MoreRelated Destiny, Fate, Free Will and Free Choice in Oedipus the King - The Paradox of Free Will1318 Words   |  6 PagesA Paradox: Oedipuss Free will in the Play Oedipus Rex William Shakespeare once wrote, Who can control his fate? (Othello, Act v, Sc.2).  A hero and leader must acknowledge above all else his honor, and the pride of his image.   In ancient Greek beliefs, a hero was a man who stood taller than the rest; he was able to better any conflict.   He did this not for himself or for any token award that may be given to him, but for the security of his fellow man.   Physical strength and superior wit areRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - Driven by Fate1105 Words   |  5 PagesThe Role of Fate in Oedipus Rex Before we approach this complex question inductively, we are at first obliged to contemplate what definitions and assumptions are being made. This essay, perhaps more so than others, requires a more extensive look at this aspect of the question, because of the sheer variety of possible responses. However, I now have reduced them to three possibilities. Firstly, we could make the assumption that perhaps as destiny controls all fates, then Oedipus character wasRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - Victim of Fate3445 Words   |  14 PagesThe Victim of Fate in Oedipus Rex The question has been raised as to whether Oedipus was a victim of fate or of his own actions.   This essay will show that Oedipus was a victim of fate, but he was no puppet because he freely and actively sought his doom, although he was warned many times of the inevitable repercussions of his actions. When first considering this topic, I speculated that maybe it was the destiny of Oedipus to suffer, but a friend asked me to explain why Oedipus, in the actRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - The Fate of Oedipus1239 Words   |  5 PagesThe Fate of Oedipus in Oedipus the King    In Oedipus the King there comes a point in the play where Oedipus learns something that plays an important role throughout the play.  Ã‚   He learns from a   oracle that he will eventually kill his own Father and sleep with his own mother.   As one could imagine this is a shock to Oedipus, and he does not believe the oracle.   However, he cannot prevent any of this from happening because it is his fate.   Oedipus is a victim of circumstancesRead MoreDestiny, Fate, Free Will and Free Choice in Oedipus the King - Role of Fate635 Words   |  3 PagesThe Role of Fate in Oedipus the King In Oedipus the King, one can easily see the tragedy that comes when Oedipus lives out fate, although not of his own intentions. Oedipus did everything in his own power in order to keep the prophecies from being fulfilled. One might even say that Oedipus ran from fate. Webster defines tragedy as a medieval narrative poem or tale typically describing the downfall of a great man. Oedipus the King is certainly a tragedy, and as Dr. Lucas states in his blogRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - Defining Fate1000 Words   |  4 PagesFate in Oedipus Rex      Ã‚  Ã‚   During ancient times, the Greeks believed very strongly in a concept called fate.   What is fate?   Fate can be defined as a cause beyond human control that determines events.   It can also be defined as the outcome or end of some sort.   In Oedipus Rex, King Oedipus is a character that lived by fate and died by fate.   This element of fate truly impacted the storyline and the plot, while allowing for some interesting developments that may have been unforeseen byRead More Boundaries of Destiny, Fate, Free Will and Free Choice in Oedipus the King1282 Words   |  6 PagesBoundaries of Fate and Free Will in Oedipus the King    The ancient Greeks firmly believed that the universe was guided strictly by order and fate. In Oedipus the King, Sophocles has examined the relationship between free will and fate, suggesting that free will paradoxically exists inside the boundaries of fate. It may be concluded, however, that man has free will and is ultimately held responsible for his own actions.    Oedipus destruction was brought about by a combination of fate and freeRead More Destiny, Free Will and Choice - The Power of Fate in Oedipus the King1071 Words   |  5 PagesThe Power of Fate in Oedipus the King The concept of fate has existed since the time of the ancient Greeks. The Greeks believed very strongly in fate, which can be defined as either a power beyond human control that determines events, or the outcome or end. In Oedipus Rex, King Oedipus lives and dies by fate. Fate influences the entire plot, thereby allowing for some interesting developments that may be unpredictable to the audience. In Sophocles Oedipus Rex, fate truly is a huge factorRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - Fate and the Modern World966 Words   |  4 PagesOedipus Rex, Fate, and the Modern World  Ã‚  Ã‚  Ã‚  Ã‚   In the two thousand since â€Å"Oedipus Rex† was written, it has been analyzed and dissected innumerable times and in every possible way.   Usually the analysis has been within the context of the play itself or within the context of other Greek tragedies.   Perhaps it would be more relevant and interesting to evaluate the play within the context of the modern world.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In his play Sophocles brings up many questions which are not easily answeredRead More Destiny, Fate, Free Will and Free Choice in Oedipus the King - Fates Triumph822 Words   |  4 PagesThe Power of Fate in Oedipus Rex  Ã‚   Oedipus, the fated tragic hero of Sophocles’s Oedipus Rex, is a complex character who, through slow realization, learns that one cannot escape fate.   Throughout the course of the tragedy, Oedipus’s attitude evolves from arrogance to humbleness as he learns to seek for truth and finds that fate is impossible to control. In the beginning of Oedipus Rex, Oedipus is a strong, noble king in search of justice for the slain former King Laios. Oedipus is both arrogant

Ole Kirk Kristiansen Free Essays

The founder of Lego, Ole Kirk Kristiansen, was born on April 7, 1891. Ole Kirk Kristiansen first worked on a farm and later got an apprenticeship with a carpenter that he completed in 1911. He lived in Denmark and served in the military at the Citadel of Copenhagen. We will write a custom essay sample on Ole Kirk Kristiansen or any similar topic only for you Order Now At the age of 24 Ole Kirk bough the Billund Joinery Factory they manufactured doors, windows, kitchen cabinets, cupboards, coffins, chests of drawers, tools for digging peat, and bodywork for carts. He was a christian man who went about his life thankful for the things god had granted him and tried to achieve excellence within everything. When a global crisis hit Ole Kirk business was hit to. Many Danish farmers lost money and business because of US and Uk restrictions on imports. This created a problem for Ole Kirk because farmers and smallholders were his number one customers. Because no one was buying Ole Kirk had no jobs to do and was forced to make toys for Jens W. Oleson, which started his famous toy making. Ole Kirk became part of the National Association for Danish Enterprise. They promoted his manufacturing efforts during the crisis and put him in a magazine to give advice and promote his goods. Then 2 years after Ole Kirk started making toys(1932) he showed off legos in a trade fair.Lego initial started as a company name that made wooden toys. The Association for Danish Enterprise supported Ole Kirk and gave him a free spot in the trade fair. The beginning of the Lego Group was marked by Ole Kirk’s manufacture of toys such as cars, planes, and yo-yos. Ole Kirk needed money to secure his business’s future, so he asked his family for a 3,000 DKK loan. When Ole Kirk decided to completely make the switch to toys he held a contest to find a new name for the company the prize being a bottle of homemade wine. The winner of the contest was Ole Kirk himself with the name â€Å"Lego.† He got the name by combining the danish words â€Å"Leg Godt† which meant â€Å"play well.† Within a few years Ole Kirk laid the foundation of one of the world’s leading toy manufacturers. Ole Kirk always promised quality with his work and wanted children to play with his toys for many years. He always Produced his wooden toys to his standard and made his kids do the same. Ole Kirk went as far as to make the company’s motto â€Å"Only the best is good enough,† which still applies to the company today. As Ole Kirk’s company grew he stuck to his roots and never got lazy with his work. With company growth also came innovations of tools and machines for Ole Kirk to use. When Ole Kirk bought his first milling machine it was a huge investment, especially because it was worth one third of company profits. Although Ole Kirk saw the massive investment as worth it for the quality and quickness it would help achieve. The mill made it possible for him to hire 15 people but, their jobs were in jeopardy when a fire burned down the factory. Ole Kirk was given a loan to rebuild which made any thought of not rebuilding go away. By the end of that year production was sailing and he was able to hire 40 people. The next big thing that happened to the company was the age of plastic. Ole Kirk invested in a plastic injection molding machine. The first plastic product that The Lego Group makes is a a plastic fish baby rattle. Although Ole Kirk’s family didn’t like the idea of plastic and even tried to switch him back to wood, he persisted though and started making the Legos we know today. They first started out as â€Å"Automatic Binding Blocks† until in 1951 when the name was officially changed to Lego Bricks. The change was because Godtfred Kirk wanted the Lego name to be better recognized throughout the world. Eventually Lego was sculpted into every brick made. It turned out that Ole Kirk was right and the plastic toys lead to expansion across Norway, Sweden, Germany, and other parts of Europe. The company was booming with success and continued to grow and grow. The Lego Brick is continually innovated until January 28, 1958 when the almost perfect brick was designed and patented. The Lego Group and Godtfred Kirk wanted a more dynamic toy and added new pieces like the wheel. This creates more demand for the product and furthers the growth of the company. In 1964 the first building instructions appeared and now specific things could be built. After instructions the main focus was packaging. The packaging told what could be built and drew you in to buying the product. In 1962 Dagny Holm, Godtfred Kirk’s cousin joins the company and revolutionized building forever. This brought many visitors to the factory and it became overcrowded. The solution was to build the first ever Legoland. This place displayed many intricate lego models for many people to come and see. Wanting to expand the companies range of products further lead to the development of the lego figure. High demand and increasing sells lead to more time and effort being put into the figures and eventually they became what is known as Lego Minifigures. They were genderless and had no specific ethnicity. This was so that all the deciding could be in the child’s imagination and creativity. Since their release over four billion Lego Minifigures have been produced. The Lego vision became one of idea, exuberance, and values. Lego want people to use their own imagination to realize anything was possible and keep their values in mind. Lego never lost its passion for its toys or their quality. The business was able to grow because they never forgot where they came from and how they got where they were. By 2005 they wanted to be the leading toy brand for families with children, this was part of the strategic platform to let employees know where the company was headed. Lego became not only a brand but something that had meaning and value attached to it through not only children but the company too. As time continued more innovations came and soon Lego was in the digital game. A man by the name Dandi brought videos of 3-D Legos which prompted investigation of the possibilities of Legos in a computer based system. Eventually this created ideas such as Lego Mindstorms and Lego computer games. The first game, Lego Island, launched in 1977 was the first addition of Legos on a computer the public had seen. Also the following year the Intelligent Lego Brick was created to be built as a model and can be programmed. The Lego group went from a furniture manufacturer to a wooden toy manufacturer to a plastic brick called the Lego manufacturer. As the company innovates its products it never lost sight of its goals and values and was able to build off of a small wood company. Today Lego creates anything from Lego sets to movies and continues to deliver with quality. Many kids today love Legos and the rest of their products as they are still one of the top toys in the world. Lego is an inspiration for many businesses because of their story and how they became one of the biggest businesses worldwide. Legos success is marked by the fact that Ole Kirk’s dreams for his company were achieved and exceeded even his plans for an amazing manufacturing business. How to cite Ole Kirk Kristiansen, Papers

Financial Reporting of Tiger Resources Limited

Question: Discuss about theFinancial Reporting of Tiger Resources Limited. Answer: Introduction According to Hennes (2014), contingent liabilities and assets refer to the future potential assets and liabilities; on the other hand, provision refers to the saved amount that is kept aside to cover the future liabilities. The financial report of every company includes these two above mentioned components of accounting. The Australian Company, Tiger Resources Limited has been taken to evaluate several aspects of contingency and provisions. The main operation of the company is to discover, develop and explore copper or cobalt deposits. The various stages of this reports helps to show various relation between contingency and provision with proper example from the 2015 Annual Report of the company (www.tigerresources.com.au 2016). Recognition Criteria As per the guidelines of Australian Accounting Standard Board (AASB), there are some specific criteria to recognize the provisions and contingent liabilities or assets of a company. The criterion which is followed by Tiger Resources Limited is discussed below: Provisions As per the 2015 Annual Report of Tiger Resources Limited, the company follows certain rules while recognizing the provisions. There are three kinds of provisions in the company that is legal claims, good obligations and service warranties. These provisions are recognized when the company has a recent obligation due to the occurrence of some past events (Elder et al. 2016). Naturally, these events will cause the outflow of cash from the company as these obligations needs to be settled. For the settlement of obligation, Tiger Resources Limited uses to make the provision out of the profit of the company. There are no rules for provision for the future losses of the company. The amount of money of the provision is based on the nature of the obligation. There are both small and big amount of provisions in the company (www.tigerresources.com.au 2016). Contingent Liabilities or Assets Tiger Resources Limited has been following the guidelines of AASB to recognize the contingent liabilities and contingent assets. The company will consider an event as contingent liability when there is a potential of cash outflow in the near future due to some pat events. Unlike the provisions, it is not always necessary that there will an outflow of cash in contingent liabilities. There is a possibility of reimbursement (Barker and McGeachin 2013). On the other hand, if there is a possibility of cash outflow in the near future due to some past events, the event will be considered as contingent assets. Contingent assets and liabilities do not appear in the balance sheet of the company (www.tigerresources.com.au 2016). Difference Between Contingent Liability Provisions There are certain differences exist between the provisions and the contingent liabilities. The difference starts from the definition. Provision is the guaranteed cash outflow due to some incidents. On the other hand, contingent liabilities indicate the potential outflow of cash due to some past events. In case of provisions, the obligation is present that demands the outflow of resources in the near future. Thus, here the liability is recognized. However, there is an obligation present in the contingent liabilities, but the liability is not recognized. Hence, there may be a future cash outflow. The possibility of outflow of resources is remote here (Lagrange, Viger and Anandarajan 2015). The amount of future cash flow in case of contingent liabilities can be estimated in provisions; but in most of the cases, the amount of cash outflow cannot be estimated in contingent liabilities. The provisions are considered as expenses and they are shown in the Profit and Loss A/c of the company. On the other hand, the contingent liabilities are not considered as the proper liabilities of the company. Thus, they are shown as footnotes under the balance sheet of the company. These are the basic differences between provision and contingent liabilities (www.aasb.gov.au 2016). Examples of Provisions and Contingent Liabilities There are certain cases in the Annual Report of Tiger Resources Limited which can be considered as the contingent liability and provisions. One example from each aspect of Tiger Resources Limited is discussed below: Contingent Liability The example of Tiger Resource Limiteds contingent liability is the amount of income tax return for the year ended 31st December, 2014. The tax amount in that period is under review by the rules of standard annual tax audit procedure. The company has received notice from the tax department after paying the tax for the financial year 2012 and 2013. As per the company, there is no legal obligation that the company has to pay the tax. However, there is still a chance that the company may need to pay the tax amount in the near future. This tax case of Tiger Resources Limited has a future uncertainty whether the company has to pay the amount or not. This situation is the perfect example of a contingent liability. The amount is not fixed. On the other hand, there is an uncertainty over the payment of the taxes. This is a perfect example of contingent liability in the books of Tiger Resources Limited. This amount will not appear in any financial statement of the company, but will be shown un der the balance sheet as footnote (www.asx.com.au 2016). Provisions Provision refers to the saving of money or resources for the future events of the companies. As per the 2015 Annual Report of Tiger Resources Limited, there are non-current provisions in the company. According to the 2015 Annual Report of the company, the amount of non-current provision for the year 2014 is $ 5,609,000 and for the year 2015 is $ 3,598,000. Among the amount of 2015, there are three slabs. They are employee benefits long leave provisions, rehabilitation provision and other provisions. From the above stats, it can be seen that the provision amount of 2015 is less that the amount of 2014. That means the company has a well defined provision management plan. It is not desirable to have a big amount of provision as provisions always make the net profit small. There is a gap of $ 2,011,000 ($ 5,609,000 - $ 3,598,000) between 2015 and 2014. This is a huge improvement for Tiger Resources Limited (www.tigerresources.com.au 2016). Measurement Valuation There are certain measures of valuation of the provisions and contingent liabilities or assets. These measures have been developed by the Australian Accounting Standard Board (AASB). Based on the kind of operation, the companies choose their own measures of valuation of provisions and contingents (Walker 2012). The measurement processes are discussed below: Provisions Tiger Resources Limited measures the provisions on the basis of present value. The management first predicts the best value of the provision which is required to settle down the obligations and the uses the discount rate to assess the present value of the provisions. This measure includes various aspects. To assess the present value, the time value of the money is calculated. On the other hand, the risk involved in the process needs to be analyzed. After using the discount rate, the pre tax value of the provisions can be obtained. In the case of rehabilitation provision, the same method is applied that is the present value method. The obligations of provision must be settled on the balance date (Barth 2013). Contingent Liabilities or Assets The rise of contingent assets and liabilities depends on the occurrence of some future incidents. There is not any rule of showing the contingent assets and liabilities in any financial statements. However, they are shown as the footnotes under the balance sheet. Thus, there are not any specific criteria to measure the contingent liabilities and assets. Tiger Resources Limited has adopted the fair value method to calculate the amount of contingent assets and liabilities. In his method, Tiger Resources Limited uses to calculate the value of contingent liabilities at the time of settlement by using the discounting factor and obtain the value of the liabilities (Jin, Shan and Taylor 2015). These are the applied criteria used by Tiger Resources Limited to ascertain the value of provisions and contingent liabilities or assets. From the above discussion, it can be concluded that Tiger Resources Limited use fair value as well as present value method for the calculations. Implications As per the above discussion, it can be concluded that provisions and contingents are the two very important aspect of the business. The accountants must take into consideration these aspects while preparing the annual report of a company. It is quite obvious that when a business is operating, it will some unresolved cases. On the other hand, these cases must be resolved in near future and for that reason there should be precautions in the form of provisions and contingents. Both provisions and contingents have the same meaning to some extent. However there is a huge gap between provision and contingents. In other words, provision is certain where contingents are not certain. There are two examples given from the 2015 Annual Report of Tiger Resources Limited. The first example is about the contingent liability of the company and the second example is about the accounting provisions of the company (Hausman 2012). In the first example it has been shown that there is an unresolved case exists in the 2015 Annual Report of Tiger Resources Limited. The case is about the return of income tax for the financial year 2014. The matter is under the review of the tax and audit authority. Tiger Resources Limited has considered the total amount as contingent liability. That means there is a probability that the company either has to pay the money in future or not. In case of contingent liabilities, cash outflow is uncertain. Thus, the company will show the amount of money in the footnotes under the balance sheet. This amount will not create any impact on the current financial position of the company. However, it can create an impact in near future if the money has to be paid (Richardson, Taylor and Lanis 2013). In the second example, the provision amount of Tiger Resources Limited for the years 2014 and 2015 has been shown and analyzed. It has been seen that the company has provisions for various purposes like employee benefits, rehabilitation and others. As per the 2015 Annual Report of the company, the amount of provision has become less in the year 2015 compared to the year 2014. It indicates a prospects future of the company in provision management. As the provisions are made out of the net profit, it is desirable that there is less amount of Provision. Hence, in near future the company should take more corrective measures so that there is little amount of provision for the company (Arslanalp and Liao 2014). References aasb.gov.au.(2016).admin/file/content105/c9/AASB137_07-04_COMPoct10_01-11.pdf. [online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB137_07-04_COMPoct10_01-11.pdf [Accessed 28 Sep. 2016]. Arslanalp, S. and Liao, Y., 2014. Banking sector contingent liabilities and sovereign risk.Journal of Empirical Finance,29, pp.316-330. asx.com.au. (2016).asxpdf/20150331/pdf/42xn4kykjjrzvy.pdf. [online] Available at: https://www.asx.com.au/asxpdf/20150331/pdf/42xn4kykjjrzvy.pdf [Accessed 28 Sep. 2016]. Barker, R. and McGeachin, A., 2013. Why is there inconsistency in accounting for liabilities in IFRS? An analysis of recognition, measurement, estimation and conservatism.Accounting and Business Research,43(6), pp.579-604. Barth, M.E., 2013. Measurement in financial reporting: The need for concepts.Accounting Horizons,28(2), pp.331-352. Elder, N., Penm, M., Pallerla, H., Meulen, M.B.V., Short, A.D., Diers, T., Imhoff, R.J., Wilson, B. and Boone, J.M., 2016. Provision of Recommended Chronic Pain Assessment and Management in Primary Care: Does Patient-Centered Medical Home (PCMH) Recognition Make a Difference?.The Journal of the American Board of Family Medicine,29(4), pp.474-481. Hausman, J.A. ed., 2012.Contingent valuation: A critical assessment(Vol. 220). Elsevier. Hennes, K.M., 2014. Disclosure of contingent legal liabilities.Journal of Accounting and Public Policy,33(1), pp.32-50. Jin, K., Shan, Y. and Taylor, S., 2015. Matching between revenues and expenses and the adoption of International Financial Reporting Standards.Pacific-Basin Finance Journal,35, pp.90-107. Lagrange, B., Viger, C. and Anandarajan, A., 2015. Contingency liabilities: The effect of three alternative reporting styles.Research in Accounting Regulation,27(2), pp.119-128. Richardson, G., Taylor, G. and Lanis, R., 2013. The impact of board of director oversight characteristics on corporate tax aggressiveness: An empirical analysis.Journal of Accounting and Public Policy,32(3), pp.68-88. tigerresources.com.au. (2016).aurora/assets/user_content/File/01733774%281%29.pdf. [online] Available at: https://www.tigerresources.com.au/aurora/assets/user_content/File/01733774%281%29.pdf [Accessed 28 Sep. 2016]. Tigerresources.com.au. (2016).Tiger Resources. [online] Available at: https://www.tigerresources.com.au/company_profile.7.html [Accessed 28 Sep. 2016]. Walker, R.G., 2012. Permissive and Uninformative Reporting of Clean-Up Costs.Contemporary Issues in Mining: Leading Practice in Australia, p.143.