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Agency Conflict
Companies that separating the functions of management and ownership will be vulnerable to agency conflicts. On agency theory designed a system that involves two parties, namely the management and owners. Furthermore, management and owners make an agreement (contract) work to achieve the expected utility. Lambert (2001) states that the agreement is expected to maximize the utility owner (principal), and can satisfy as well as ensure management (agent) to receive the reward. The benefits received by both parties based on company performance. In general, the company's performance is measured by profitability (Penman, 2003). The amount of income (profit), then informed by the management to the owners through the financial statement presentation.
Ohlson (2006) states that financial accounting is important in the measurement (measurement) through approach to the balance sheet (balance sheet) or the approach income statement (income statement). At the balance sheet approach, accounting rule determine the value on the balance sheet, and leads to changes in the value of of revenue and expenses measurements. While the income statement approach is to determine directly of revenue and expenses, and it will be useful to update the balance sheet value of previous period.
In accordance with agency theory, motivation of management can be grouped into two categories: opportunistic and signaling (Beaver, 2002). In the opportunistic motivation, management through the aggressive accounting policies generate higher returns than real profits. If earnings report can not describe the real profit, it will lead to overstate earnings that resulted in profits become blur (opaque). The blurring of profit (earnings opacity) implies that the accounting profit can not describe the true economic profit. The policy was made by management, as they relate to compensation under the contract agreed upon with the owner.
In the signaling motivation, management presents financial information (particularly income) is expected to provide a signal of wealth to shareholders. Earnings reports that could provide a signal of wealth is growing and profits are relatively stable (sustainable). Penman and Zhang (2002) states that sustainable earnings are earnings that have a high quality and as an indicator of future earnings, and hereafter referred to as the persistence of earnings (Sloan, 1996; Dechow and Dichev, 2002; Francis, Lafond, Olsson and Schipper, 2004). (Sunarto)
In the signaling motivation, management presents financial information (particularly income) is expected to provide a signal of wealth to shareholders. Earnings reports that could provide a signal of wealth is growing and profits are relatively stable (sustainable). Penman and Zhang (2002) states that sustainable earnings are earnings that have a high quality and as an indicator of future earnings, and hereafter referred to as the persistence of earnings (Sloan, 1996; Dechow and Dichev, 2002; Francis, Lafond, Olsson and Schipper, 2004). (Sunarto)
Healthy | Smart | Rich, at: 5/14/2012
The Basic Principles of Corporate Governance
1. Transparency
To maintain objectivity in business, companies must provide material and relevant information in a way that is easily accessible and understood by stakeholders. The companies should take initiative to reveal not only the problems implied by the regulatory legislation, but also important for decision-making by shareholders, creditors and other stakeholders.
2. Accountability
2. Accountability
Companies should be accountable for its performance with transparent and reasonable. Therefore, the company must be properly managed, scalable, and in accordance with the interests of the company by considering the interests of shareholders and other stakeholders. Accountability is a necessary condition to achieve sustainable performance.
3. Responsibility
Companies must obey the legislation and carry out responsibilities for people and the environment that can be maintained in the long term sustainability and to be recognized as a good corporate citizen.
4. Independency
4. Independency
To accelerate the implementation of the principles of good corporate governance, companies must be managed independently so that each company does not dominate the other and did not receive the intervention from the other parties.
5. Fairness
5. Fairness
In carrying out its activities, the company should always pay attention to interests of shareholders and other stakeholders based on the principles of fairness and equality.
Healthy | Smart | Rich, at: 4/21/2012
Good Corporate Governance (GCG)
Corporate governance is a concept that can be used to improve economic efficiency, which includes a set of relationships between the company's management, board of directors, shareholders and other corporate stakeholders.
Corporate governance also provides a structure that facilitates the determination of the goals of a company, and as a means to determine the performance monitoring techniques. Watts (2003), stated that one of the ways used to monitor and restrict the issue of contract management is the opportunistic behavior of corporate governance. Related with agency problems, corporate governance is a concept based on agency theory that expected to serve as means to give confidence to investors that they will receive a return of the funds that they have invested. In other words, corporate governance directed to reducing asymmetry information between principal and agent, which in turn could reduce earnings management measures (Ujiyanto and Bambang, 2007).
Until now, there are many varying definitions of Good Corporate Governance (GCG). But generally have the same purpose and understanding. Forum for Corporate Governance in Indonesia or FCGI (2000) in the first publication is using the definition of the Cadbury Committee, that is:
Corporate governance also provides a structure that facilitates the determination of the goals of a company, and as a means to determine the performance monitoring techniques. Watts (2003), stated that one of the ways used to monitor and restrict the issue of contract management is the opportunistic behavior of corporate governance. Related with agency problems, corporate governance is a concept based on agency theory that expected to serve as means to give confidence to investors that they will receive a return of the funds that they have invested. In other words, corporate governance directed to reducing asymmetry information between principal and agent, which in turn could reduce earnings management measures (Ujiyanto and Bambang, 2007).
Until now, there are many varying definitions of Good Corporate Governance (GCG). But generally have the same purpose and understanding. Forum for Corporate Governance in Indonesia or FCGI (2000) in the first publication is using the definition of the Cadbury Committee, that is:
"seperangkat peraturan yang mengatur hubungan antara pemegang saham, pengurus (pengelola) perusahaan, pihak kreditur, pemerintah, karyawan serta para pemegang kepentingan intern dan ekstern lainnya yang berkaitan dengan hak-hak dan kewajiban mereka, atau dengan kata lain suatu sistem yang mengatur dan mengendalikan perusahaan."
In addition, FCGI explained that the purpose of Corporate Governance is to create added value for all stakeholders.
In addition, FCGI explained that the purpose of Corporate Governance is to create added value for all stakeholders.
Healthy | Smart | Rich, at: 4/20/2012
Interesting Facts About Women's Breasts
Actually, there are many more shocking facts about breast cancer, who previously may never know. Here are healthy life facts: 7 interesting facts about women's breasts, as described in the Times of India.
1. The left breast is usually larger
It is rather difficult to see. However, generally the size of the left breast is always bigger than the right. The size and shape of both breasts may not be the same. In fact, the nipple also vary in size from each other.
2. There is a fine hair on the nipples
How this occurs in women? Women also have hair that grows in the breast, on the nipple area. In fact, blackheads and acne can also appear on your breast.
3. The average breast weighs about 0.5 kilograms
Each breast is 4-5 percent of body fat. Thus, 1 percent of the total weight of a woman's body from fat in the breast. Breasts can be enlarged when the female adulthood. But remember, women smokers tend to have sagging breasts than those who do not smoke.
4. More than 2 million women have fake breasts
5. Breasts become larger when aroused
6. Breast becomes uncomfortable when shaken
Physical activity such as jogging, walking, and aerobics can cause shocking the breast. Therefore, wear a bra with the right size to minimize the movement so that you can also reduce pain in your breast. Remember, the primary function of the bra is to protect the health of your breasts.
7. Breasts can change shape
It sounds a bit ridiculous, but facedown during sleep is believed to alter the shape of the breast. Important to always keep the sleeping position in the right conditions to maintain the firmness and shape of your breasts. The best sleeping position is to sleep sideways and use a pillow as a cushion to keep the breast form is maintained during sleep.
How this occurs in women? Women also have hair that grows in the breast, on the nipple area. In fact, blackheads and acne can also appear on your breast.
3. The average breast weighs about 0.5 kilograms
Each breast is 4-5 percent of body fat. Thus, 1 percent of the total weight of a woman's body from fat in the breast. Breasts can be enlarged when the female adulthood. But remember, women smokers tend to have sagging breasts than those who do not smoke.
4. More than 2 million women have fake breasts
More than 2 million women have breast implants. This number shows that many women consider their breasts. But in reality, not all women who have breast surgery are satisfied with the results obtained. Research shows that the average age of women using the implant are 34 years old.
5. Breasts become larger when aroused
Just as the penis, the breast will enlarge and become tense when aroused. It also occurs in the nipple.
6. Breast becomes uncomfortable when shaken
Physical activity such as jogging, walking, and aerobics can cause shocking the breast. Therefore, wear a bra with the right size to minimize the movement so that you can also reduce pain in your breast. Remember, the primary function of the bra is to protect the health of your breasts.
7. Breasts can change shape
It sounds a bit ridiculous, but facedown during sleep is believed to alter the shape of the breast. Important to always keep the sleeping position in the right conditions to maintain the firmness and shape of your breasts. The best sleeping position is to sleep sideways and use a pillow as a cushion to keep the breast form is maintained during sleep.
Healthy | Smart | Rich, at: 4/16/2012
Spices Boost Metabolism
Wealth of spices which are abundant in my country (Indonesia) is actually not only can be used for cooking, but also for healthy life. A recent study in the Journal of Nutrition showed that a mixture of spices in foods can increase metabolism in the body. Spices Boost Metabolism.
According to researchers, by adding a combination of various spices such as turmeric, cinnamon, garlic, and pepper into the food significantly helps reduce triglyceride levels and insulin.
"Antioxidants such as spices may be important in reducing oxidative of stress and thereby reduce the risk of chronic disease," said Sheila West from Penn State University and colleagues.
In the experiments, the researchers involved six men who have excess weight from 30 to 65 years old. In the first part, volunteers regularly consume chicken, white rice, cheese bread, and desserts such as biscuits. After about a week, the volunteers had switched to eating foods with spice mixture. Then the menu is processed into curry chicken, sandwiches with herbs and biscuits from cinnamon.
Furthermore, researchers took blood samples of participants before meal and every 30 minutes for nearly four hours later. They found that the addition of spices to significantly reduce the insulin response (21 percent) and triglycerides (31 percent), although no effect on glucose.
"This significant effect is likely due to the high concentration of phenolic antioxidants in spices," the researchers said.
They concluded that incorporate the spice into the daily diet can help to normalize impaired glucose before and after meals and homeostasis of fat while increasing antioxidant defenses. (dechacare.com)
According to researchers, by adding a combination of various spices such as turmeric, cinnamon, garlic, and pepper into the food significantly helps reduce triglyceride levels and insulin.
"Antioxidants such as spices may be important in reducing oxidative of stress and thereby reduce the risk of chronic disease," said Sheila West from Penn State University and colleagues.
In the experiments, the researchers involved six men who have excess weight from 30 to 65 years old. In the first part, volunteers regularly consume chicken, white rice, cheese bread, and desserts such as biscuits. After about a week, the volunteers had switched to eating foods with spice mixture. Then the menu is processed into curry chicken, sandwiches with herbs and biscuits from cinnamon.
Furthermore, researchers took blood samples of participants before meal and every 30 minutes for nearly four hours later. They found that the addition of spices to significantly reduce the insulin response (21 percent) and triglycerides (31 percent), although no effect on glucose.
"This significant effect is likely due to the high concentration of phenolic antioxidants in spices," the researchers said.
They concluded that incorporate the spice into the daily diet can help to normalize impaired glucose before and after meals and homeostasis of fat while increasing antioxidant defenses. (dechacare.com)
Healthy | Smart | Rich, at: 4/15/2012
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