Black Hole Production by Cosmic Rays

Ultra-high energy cosmic rays create black holes in scenarios with extra dimensions and TeV-scale gravity. In particular, cosmic neutrinos will produce black holes deep in the atmosphere, initiating quasi-horizontal showers far above the standard model rate. At the Auger Observatory, hundreds of black hole events may be observed, providing evidence for extra dimensions and the first opportunity for experimental study of microscopic black holes. If no black holes are found, the fundamental Planck scale must be above 2 TeV for any number of extra dimensions.Comment: 4 pages, 4 figures, PRL versio

Multichannel Anomaly of the Resonance Pole Parameters Resolved

Inspired by anomalies which the standard scattering matrix pole-extraction procedures have produced in a mathematically well defined coupled-channel model, we have developed a new method based solely on the assumption of partial-wave analyticity. The new method is simple and applicable not only to theoretical predictions but to the empirical partial-wave data as well. Since the standard pole-extraction procedures turn out to be the lowest-order term of the proposed method the anomalies are understood and resolved.Comment: 5 page

Discovery of Blue Hook Stars in the Massive Globular Cluster M54

We present BV photometry centered on the globular cluster M54 (NGC 6715). The color-magnitude diagram clearly shows a blue horizontal branch extending anomalously beyond the zero age horizontal branch theoretical models. These kinds of horizontal branch stars (also called ``blue hook'' stars), which go beyond the lower limit of the envelope mass of canonical horizontal branch hot stars, have so far been known to exist in only a few globular clusters: NGC 2808, Omega Centauri (NGC 5139), NGC 6273, and NGC 6388. Those clusters, like M54, are among the most luminous in our Galaxy, indicating a possible correlation between the existence of these types of horizontal branch stars and the total mass of the cluster. A gap in the observed horizontal branch of M54 around T(eff)= 27000 K could be interpreted within the late helium flash theoretical scenario, a possible explanation for the origin of those stars.Comment: 10 pages, 2 figures, accepted for publication in the Astrophysical Journa

The formation and sedimentary infilling of the Limeworks Cave, Makapansgat, South Africa

Main articleThe remnant cavern of the Limeworks australopithecine site has a number of special features. Firstly, unlike Swartkrans and Sterkfontein, which developed in relatively flat relief, the Limeworks Cave developed as part of a mountain karst. Then upon abandonment by its formative river, there formeda unique, conjoined series of tall stalagmites and columns arranged in an irregular arc against the walls of the cavern. This arc had the effect of dividing up the space into a central volume and several lateral alcoves. The spaces were separated from each other, so that, when the cavern began to unroof, each came to be filled by its own surficial deposits or, in some cases, not at all. At only one level is it possible to show that a gap existed between two adjacent repositories so as to produce common, contemporaneous deposits. This turns out to be the hyena den layer known as the Grey Breccia, and a connection was made possible with the centre by spaces that existed at local roof level for a limited period. The Grey Breccia appears to be about contemporaneous with the white bone breccia at the back of the cavern, whereas the black bone breccia in theMain Quarry is slightly younger than these two. The recognition of distinctive depositional horizons has allowed us to reconstruct a stratigraphic section for all deposits from the known base to the known top on the western side of the site. This section can be used for magnetostratigraphic purposes to construct a firmer chronology that includes the Grey Breccia; but further work is required to tie in the eastern side.Arts and Humanities Research Board (AHRB, UK), and NER

The Prospects Of Replacing GAAP With IFRS In The United States

Historically, each country developed its own Generally Accepted Accounting Principles (GAAP) for financial accounting and reporting and there was no uniformity among the GAAPs of different countries. Comparison of financial statements issued by business firms from different countries has become difficult leading toward suboptimal capital allocation across countries in the world. Gradually, there emerged a global demand for convergence of GAAP of different countries into a single set uniform accounting standards applicable to all countries. As a result, the International Accounting Standards Committee (IASC) was established in 1973. The IASC formed International Accounting Standards Board (IASB) in 2001 which began issuing International Financial Accounting Standards (IFRS). At this point about 100 countries have adopted IFRS for their financial reporting purposes. In 2010, the US Securities Exchange Commission (SEC) stated that it would be able to make a decision on the adoption of the IFRS in the United States within that year and would allow a five-year period for complete transition, if it is decided to incorporate the IFRS into the U S reporting standards. An intense debate ensued for and against incorporation of IFRS into the US GAAP. Four alternative processes are suggested for the transition - outright adoption, convergence, endorsement, and co-endorsement. This paper presents details of each of these suggested alternatives and future perspective of the adoption of IFRS into the U S accounting and reporting system

Innovation In Business Education: Developing A High Quality Online MBA

Online degree programs were probably pioneered by for-profit universities such as University of Phoenix. Many online degree programs were initially considered low quality academic programs compared to traditional programs. Therefore, many public and private universities were slow to adopt the online programs.  However, gradually more and more "non-traditional" students began to enter schools. Employees already holding jobs began to seek to better their qualifications by coming back to school while still working.  For both these groups, online degree programs offered an opportunity to go to school while still employed. Consequently, many schools offering traditional MBA programs are forced to offer online MBA programs to meet the demand and to beat the competing schools. In keeping up with the trend, Arkansas State University launched a high quality online MBA program that parallels the best of the ongoing online MBA programs.  This MBA program has been ranked number 1 in faculty credentials and training and in the top 15 in all categories among all online MBA programs by U. S. News and World Report for three consecutive years. This paper presents how the Graduate Faculty of Arkansas State's College of Business developed its high quality online MBA and how the program operates with revenue sharing for the College of Business

SECs Push Back On Adoption Of IFRS In The United States

For a long time, the United States (US) Generally Accepted Accounting Principles (GAAP), are considered as the gold standard for financial reporting by companies all over the world. With the advent of globalization of capital markets and the proliferation of the multi-national corporations (MNCs), there emerged a movement for developing a uniform set of accounting standards applicable to companies all over the world in order to achieve uniformity in financial reporting. The movement is initiated by the International Accounting Standards Board (IASB) which started to issue International Financial Reporting Standards (IFRS). Over the last decade, four alternative methods have been considered by the Securities and Exchange Commission (SEC) for a possible adoption of IFRS in the US: outright adoption, convergence, endorsement, and condorsement. Recently, the SEC appears to be taking a step backwards in its policy towards adoption of IFRS. The process involves prohibitive costs to US companies which are already suffering under the ill effects of a great recession. The adoption of IFRS would also impose enormous burden on the academia, the accounting profession, and the regulatory apparatus of the SEC. Also, there is a question as to whether a single set of international accounting standards applicable to all countries is even desirable. The FASB and the IASB have been working on convergence since 2002. The SEC began studying the pros and cons of adoption of IFRS since 2010. But, in its latest staff report, issued in July 2012, the SEC did not include any final policy decision as to whether IFRS will ever be adopted at all in any manner in the US. Furthermore, the SEC, in its report, made it very clear that turning over control of US accounting standard-setting authority to the IASB is out of question. This paper presents the various efforts made so far in aligning US GAAP with the IFRS and the future outlook regarding adoption of IFRS in the US

Sarbanes-Oxley Act Of 2002 And Non-Profit Organizations

The United States (US) has the unique record of having the largest sector of Non-Profit Organizations (NPO) in the world, comprising of over one million NPOs.  The participation of Americans in philanthropic activities is unparalleled in the world.  In recent years, NPOs received over 1.5 trillion in revenues as reported by the Internal Revenue Service. These charitable organizations contribute immensely towards improving the lives of disadvantageous people.  However, the huge NPO sector of our economy has been plagued recently with a deluge of corporate financial scandals similar to the scandals in corporations in the for-profit sector, such as Enron, WorldCom and Tyco. The misappropriations of funds involved over 150 NPOs, including world renowned organizations such as Red Cross and United Way.  The embezzled funds amounted to over 1 billion.  The US Congress reacted quickly and vehemently to such scandals in the for-profit corporations with the enactment of Sarbanes-Oxley Act of 2002 (SOX), with far reaching consequences to the American business organizations.  The rigorous provisions of SOX did not extend to Non-Profit Organizations except in two specific areas – whistleblower protection and retention of documents for verification.  However, the present flood of NPO scandals triggered a bevy of SOX-like proposals for laws for Non-Profit Organizations as well, in the US Congress and in many state legislatures.  Some states have already passed such laws.  This paper presents a brief description of the NPO scandals, the ongoing proposals of SOX-like laws for NPOs in several states and their impact on the future governance of the NPOs

Accounting Fraud, And White-Collar Crimes In The United States

Time was when fraud used to involve a simple exchange of tangible items, by the perpetrator of fraud, tricking the victims to part with something valuable and in return receive something almost worthless. In recent times, the exponential growth in communication technology and proliferation of computers paved the way for phenomenal upsurge in corporate fraud, while-collar crime, and identity theft. These crimes are costing the country hundreds of billions of dollars every year. The nation is witnessing a peculiar trend in the nature of crimes. While crimes of violence such as murder and rape and property crimes like armed robbery, burglary, and car thefts are on the decline, crimes involving accounting fraud, white-collar crime and embezzlement have shown a meteoric rise. Accounting fraud is defined as knowingly falsifying accounting records in order to boost sales revenue and net income. Accounting fraud is perpetrated by corporations by means of presenting false information, using funds for illegal purposes, overstating revenues, understating expenses, overstating the value of corporate assets, and understating liabilities. Many spectacular corporate scandals such as Enron in the past decade involved large scale accounting fraud. Corporate fraud can have devastating consequences, not just to the investors in the company’s stock but also to tens of thousands of employees who invested their retirement savings in the company’s 401K accounts. Several laws were enacted to prevent corporate fraud with mixed results. Accounting students in this country have been receiving no training at all in the area of prevention and detection of fraud. This paper presents a short history of corporate fraud, the laws enacted to deal with the problem, and the role of codes of ethics for business firms in dealing with corporate fraud