Reaction to the mandatory write-down provisions of AASB 1010 : accounting for the revaluation of non-current assets

Commentators in the financial press claimed that the amendments to AASB 1010, Accounting for the Revaluation of Non-Current Assets, issued in September 1991, would have “disastrous” implications for the accounts of companies. This paper is concerned with whether the amendments did indeed affect asset write-down activities. An analysis of write-down practices of 75 Australian companies before and after the amendments were operative suggests that the commentators' judgment could have been hasty.

Novel numerical methods for time-space fractional reaction diffusion equations in two dimensions

We consider time-space fractional reaction diffusion equations in two dimensions. This equation is obtained from the standard reaction diffusion equation by replacing the first order time derivative with the Caputo fractional derivative, and the second order space derivatives with the fractional Laplacian. Using the matrix transfer technique proposed by Ilic, Liu, Turner and Anh [Fract. Calc. Appl. Anal., 9:333--349, 2006] and the numerical solution strategy used by Yang, Turner, Liu, and Ilic [SIAM J. Scientific Computing, 33:1159--1180, 2011], the solution of the time-space fractional reaction diffusion equations in two dimensions can be written in terms of a matrix function vector product $f(A)b$ at each time step, where $A$ is an approximate matrix representation of the standard Laplacian. We use the finite volume method over unstructured triangular meshes to generate the matrix $A$, which is therefore non-symmetric. However, the standard Lanczos method for approximating $f(A)b$ requires that $A$ is symmetric. We propose a simple and novel transformation in which the standard Lanczos method is still applicable to find $f(A)b$, despite the loss of symmetry. Numerical results are presented to verify the accuracy and efficiency of our newly proposed numerical solution strategy.

Globally networked public spheres? The Australian media reaction to WikiLeaks

The global release of 250,000 US Embassy diplomatic cables to selected media sites worldwide through the WikiLeaks website, was arguably the major global media event of 2010. As well as the implications of the content of the cables for international politics and diplomacy, the actions of WikiLeaks and its controversial editor-in-chief, the Australian Julian Assange, bring together a range of arguments about how the media, news and journalism are being transformed in the 21st century. This paper will focus on the reactions of Australian online news media sites to the release of the diplomatic cables by WikiLeaks, including both the online sites of established news outlets such as The Australian, Sydney Morning Herald and The Age, the ABC’s The Drum site, and online-only sites such as Crikey, New Matilda and On Line Opinion. The study focuses on opinion and commentary rather than straight news reportage, and analysis is framed around three issues: WikiLeaks and international diplomacy; implications of WikiLeaks for journalism; and WikiLeaks and democracy, including debates about the organisation and the ethics of its own practice. It also whether a “WikiLeaks Effect” has wider implications for how journalism is conducted in the future, particularly the method of ‘redaction’ of large amounts of computational data.

Noble metal photocatalysts under visible light and UV light irradiation

One of the greatest challenges for the study of photocatalysts is to devise new catalysts that possess high activity under visible light illumination. This would allow the use of an abundant and green energy source, sunlight, to drive chemical reactions. Gold nanoparticles strongly absorb both visible light and UV light. It is therefore possible to drive chemical reactions utilising a significant fraction of full sunlight spectrum. Here we prepared gold nanoparticles supported on various oxide powders, and reported a new finding that gold nanoparticles on oxide supports exhibit significant activity for the oxidation of formaldehyde and methanol in the air at ambient temperature, when illuminated with visible light. We suggested that visible light can greatly enhance local electromagnetic fields and heat gold nanoparticles due to surface plasmon resonance effect which provides activation energy for the oxidation of organic molecules. Moreover, the nature of the oxide support has an important influence on the activity of the gold nanoparticles. The finding reveals the possibility to drive chemical reactions with sunlight on gold nanoparticles at ambient temperature, highlighting a new direction for research on visible light photocatalysts. Gold nanoparticles supported on oxides also exhibit significant dye oxidation activity under visible light irradiation in aqueous solution at ambient temperature. Turnover frequencies of the supported gold nanoparticles for the dye degradation are much higher than titania based photocatalysts under both visible and UV light. These gold photocatalysts can also catalyse phenol degradation as well as selective oxidation of benzyl alcohol under UV light. The reaction mechanism for these photocatalytic oxidations was studied. Gold nanoparticles exhibit photocatalytic activity due to visible light heating gold electrons in 6sp band, while the UV absorption results in electron holes in gold 5d band to oxidise organic molecules. Silver nanoparticles also exhibit considerable visible light and UV light absorption due to surface plasmon resonance effect and the interband transition of 4d electrons to the 5sp band, respectively. Therefore, silver nanoparticles are potentially photocatalysts that utilise the solar spectrum effectively. Here we reported that silver nanoparticles at room temperature can be used to drive chemical reactions when illuminated with light throughout the solar spectrum. The significant activities for dye degradation by silver nanoparticles on oxide supports are even better than those by semiconductor photocatalysts. Moreover, silver photocatalysts also can degrade phenol and drive the oxidation of benzyl alcohol to benzaldehyde under UV light. We suggested that surface plasmon resonance effect and interband transition of silver nanoparticles can activate organic molecule oxidations under light illumination.