A comparative study of difficulties in accounting preparation and judgement in agriculture using fair value and historical cost for biological assets valuation

Este estudio realiza un investigación empírica comparando las dificultades que se derivan de la utilización del valor razonable (VR) y del coste histórico (CH) en el sector agrícola. Se analiza también la fiabilidad de ambos métodos de valoración para la interpretación de la información y la toma de decisiones por parte de los agentes que actúan en el sector. Mediante un experimento realizado con estudiantes, agricultores y contables que operan en el sector agrícola, se halla que estos tienen más dificultades, cometen mayores errores e interpretan peor la información contable realizada a CH que la realizada a VR. Entrevistas en profundidad con agricultores y contables agrícolas desvelan prácticas contables defectuosas derivadas de la necesidad de aplicar el CH en el sector en España. Dadas las complejidades del cálculo del coste de los activos biológicos y el predominio de pequeñas explotaciones en el sector en los países occidentales avanzados, el estudio concluye que la contabilidad a VR constituye una mejoría de utilización y desarrollo de la contabilidad en el sector que la confeccionada a CH. Asimismo, el CH transmite una peor representación de la situación real de las explotaciones agrícolas.

Anàlisi econòmica financera del sector de càrnies català

Objectiu: Aquest treball pretén reflectir la situació econòmica i financera de les empreses càrnies catalanes en el període 2007-2011, mitjançant l'anàlisi de dades dels seus estats comptables, per tal de diagnosticar la salut empresarial del sector de càrnies catalanes. L'estudi també realitza una anàlisi descriptiva de les entitats que engloben les càrnies catalanes i la posició que ocupen dintre de les indústries agroalimentàries espanyoles, identificant les diferents variables d'anàlisi a curt termini, a llarg termini i d'anàlisi econòmica; afegint a l'anàlisi convencional informacions patrimonials i de tresoreria procedents l'Estat de canvis en el patrimoni net i l'Estat de fluxos d'efectiu. Disseny/metodologia/enfocament: Fer una anàlisis financera a curt termini, a llarg termini, de resultats i dels dos estats nous: Estat de canvis en el patrimoni net i Estat de fluxos d'efectiu sobre una mostra de 130 empreses catalanes utilitzant l'estadística descriptiva oportuna. Resultats: La principal aportació ha estat el diagnòstic d' una bona salut empresarial d'aquestes empreses càrnies en el període analitzat tot i que a partir de l'any 2011 hi ha un canvi en els indicadors financers utilitzats. Limitacions: Seria convenient estendre la mostra i observar en els exercicis posteriors al 2011 si es verifica el canvi de tendència dels indicadors. Implicacions pràctiques: Permet valorar la projecció que ha fet aquest sector d'activitat a Catalunya en el període analitzat.Implicacions socials: Els resultats de l'estudi permet veure la projecció de futur que té aquest sector amb els canvis oportuns a fer. Originalitat/valor afegit: Per les associacions d'indústries càrnies permet fer una valoració de la salut empresarial de les principals empreses associades i per emprendre els reptes de futur oportuns.

Sectoral and occupational employment growth in Spain 1995-2005

Between 1995 and 2005, the Spanish economy grew at an annual average rate higher than 3,5%. Total employment increased by more than 4.9 millions. Most of this growth was in occupations related with university degrees (more than 890,000, 18% of the total employment increase) and vocational qualifications (more than 855,000, 17.5% of the total employment increase). From a sectoral perspective, the main part of this increase took place in “Real estate, renting and business activities” (K sector in NACE rev.1), “Construction” (F sector) and “Health and social sector” (N sector). This paper analyses this employment growth in an Input-output framework, by means of a structural decomposition analysis (SDA). Two kinds of results have been obtained. From a sectoral perspective we decompose employment growth into Labour requirements change, technical change and demand change. From an occupational perspective, we decompose the employment growth in substitutions effect, labour productivity effect and demand effect. The results show that, in aggregated terms, the main part of this growth is attributable to demand growth, with a small technical improvement. But the results also show that this aggregated behaviour hides important sectoral and occupational variation. The purpose of this paper is to contribute to the ongoing debate over productivity growth and what has been called the “growth model” for the Spanish economy.

Cross-country differences in disclosure quality: a study of fair value disclosures by european real estate companies

Companies are under IAS 40 required to report fair values of investment properties on the balance sheet or to disclose them in the notes. The standard requires also that companies have to disclose the methods and significant assumptions applied in determining fair values of investment properties. However, IAS 40 does not include any illustrative examples or other guidance on how to apply the disclosure requirements. We use a sample with publicly traded companies from the real estate sector in the EU. We find that a majority of the companies use income based methods for the measurement of fair values but there are considerable cross-country variations in the level of disclosures about the assumptions used in determining fair values. More specifically, we find that Scandinavian and German origin companies disclose more than French and English origin companies. We also test whether disclosure quality is associated with enforcement quality measured with the “Rule of Law” index according to Kaufmann et al. (2010), and associated with a secrecy- versus transparency-measure based on Gray (1988). We find a positive association between disclosure and earnings quality and a negative association with secrecy.

Maintenance and construction outsourcing in a public-owned electricity network company

Euroopan sähkösektori on ollut viimeisen vuosikymmenen suurten mullistusten kourissa. Sähkömarkkinoiden avautumisen jälkeen monopoliliiketoimintaa harjoittavien sähköyhtiöiden on ollut pakko parantaa tuottavuuttaan. Ratkaisuksi tähän on etsitty apua huolto- ja rakennustoimintojen ulkoistamisella. Ulkoistaminen on kuitenkin uusi menetelmä tällä sektorilla. Tämän tutkielman tavoitteena on selvittää syyt, jotka tanskalaisella sähköverkkoyhtiöllä oli huolto- ja rakennustoimintojen ulkoistamiseen, sekä löytää siitä saatavat hyödyt ja siihen sisältyvät riskit. Tutkimus suoritetaan käyttäen apuna kirjallisuutta, saatavilla olevia due diligence-, sekä muita raportteja ja analyysejä, sekä tapausta koskettavien tahojen haastatteluja.Lisäksi sähköverkkoalan asiantuntijoiden kanssa käytyjä konsultointia käytetäänselvitykseen. Tutkimus osoittaa, että perimmäiset ajurit huolto- ja rakennustoimintojen ulkoistamiseen tulivat lainmuutosten ja vapautuneiden sähkömarkkinoiden asettamista paineista. Kunnallisessa organisaatiossa parantaa tehokkuutta ulkoistamalla jotain toimintoja yksityisomisteiselle palvelun tuottajalle. Muut ulkoistamisesta odotetut hyödyt olivat alentuneet kustannukset, virtaviivaisempi organisaation ja sähköverkkoyhtiön tehottomista osista eroon pääseminen ennen sen myymistä.

Cooperativas versus sociedades mercantiles. El sector frutero en Lleida

En este trabajo, se comparan, para el sector frutero de Lleida, si existen diferencias substanciales entre las cooperativas y las sociedades mercantiles. Los aspectos que se analizan son los referidos a las estructuras financieras y los resultados obtenidos por ambos tipos de entidades.

Análisis empresarial de las cooperativas del sector de la fruta dulce en Cataluña

El cooperativismo agrario ha estado ligado desde sus orígenes al sector de las frutas y hortalizas, sector que arrastra desde hace años una problemática de carácter estructural, incrementada, sobretodo en el caso de la fruta, por las graves crisis de precios, la saturación de los mercados y una competencia creciente de las importaciones de terceros países. En este difícil marco, los productores deben seguir invirtiendo para mantener la competitividad y la rentabilidad de sus explotaciones, y las cooperativas, por su importancia económica, deben acometer políticas que permitan garantizar la viabilidad de dicho sector. En el presente trabajo realizamos un análisis del sector cooperativo frutícola catalán, con el fin de detectar sus puntos fuertes y débiles, así como posibles carencias y demandas. Las conclusiones muestran que las cooperativas son importantes en el sector de la fruticultura, debido sobretodo a su contribución activa a la conservación del territorio y su papel generador de empleo en numerosas zonas rurales. Pero se hace necesario la adopción de firmes decisiones y la implantación de medidas de apoyo que permitan garantizar los intereses de los socios y las necesidades de los consumidores.

Short communication. Potential to mitigate anthropogenic CO2 emissions by tillage reduction in dryland soils of Spain

Spain is one of the countries with the highest greenhouse gas (GHG) emissions within the EU-27. Consequently, mitigation strategies need to be reported and quantified to accomplish the goals and requirements of the Kyoto Protocol. In this study, a first estimation of the carbon (C) mitigation potential of tillage reduction in Mediterranean rainfed Spain is presented. Results from eight studies carried out in Spain under rainfed agriculture to investigate the effects of no-tillage (NT) and reduced tillage (RT) compared with conventional tillage (CT) on soil organic carbon (SOC) were used. For current land surface under conservation tillage, NT and RT are sequestering 0.14 and 0.08 Tg C yr-1, respectively. Those rates represent 1.1% and 0.6% of the total CO2 emissions generated from agricultural activities in Spain during 2006. Alternatively, in a hypothetical scenario where all the arable dryland was under either NT or RT management, SOC sequestration would be 2.18 and 0.72 Tg C yr-1 representing 17.4% and 5.8% of the total 2006 CO2 equivalent emissions generated from the agricultural sector in Spain. This is a significant estimate that would help to achieve GHG emissions targets for the current commitment period of the Kyoto Protocol.

Impact of geographical and cultural factors on clinical trials in acute mania: lessons from a ziprasidone and haloperidol placebo-controlled study

Clinical trials today are conducted in multiple countries to enhance patient recruitment and improve efficiency of trials. However, the demographic and cultural diversity may contribute to variations in study outcomes. Here we conducted post-hoc analyses for a placebo-controlled study with ziprasidone and haloperidol for the treatment of acute mania to address the demographic, dosing, and outcome disparities in India, Russia and the USA. We compared the baseline characteristics, outcomes and discontinuations in patients and explored the relationship between the outcome measures across these countries. We found substantial differences in baseline characteristics of subjects, administered dosage and disease severity in India compared to the USA and Russia. Conversely, US subjects had a higher placebo response compared to subjects in Russia and India. These results are probably due to demographic differences in patient populations and psychiatric clinical practice across countries. While we offer initial ideas to address the disparities identified in this analysis, it is clear that further research to improve our understanding of geographical differences is essential to ensure globally applicable results for clinical trials in psychiatry.

Urban environments and situated institutions : everyday governance in west Bengal

How do processes of power shape the urban environment in small Indian cities? On a day-to-day basis, who actually controls access to and the use of environmental resources? How is this done? Answering these questions contributes to our ability to develop a nuanced understanding the urban condition. In order to investigate these questions an actor-oriented approach is developed, drawing on the anthropological literatures on everyday governance and the everyday state. This conceptual framework informs an urban political ecology approach oriented towards everyday practices and the micro-politics of the (re)production of urban socio-natures. This thesis employs a mixed methods approach to qualitative research. Three cases are presented to explore: para (neighbourhood) clubs as governance actors, the governance of the urban pondscape, and the urban political ecology of solid waste management. These case studies serve to highlight how power shapes the (re)production of urban socio-natures through the everyday environmental governance practices of a complex network of governance actors. This work further demonstrates how multiple intersectionalities, including class, caste and access to political and social authority, shape these practices and their outcomes. Finally, the manner in which balances of power, place making and the formation of subject positions may both result from and shape everyday environmental governance practices and their outcomes is explored. This empirical investigation makes a number of contributions to the literature. It has explores the hereto-understudied topics of environmental governance in small cities in India, the urban political ecologies of non-piped water and of solid waste, and the role of clubs as governance actors. It further contributes to conversations within the literature on how to deepen and broaden Urban Political Ecology by engaging with everyday practices, and cases of ordinary, not-openly contested socio-natures. -- Comment les processus de pouvoir influencent-ils l'environnement urbain dans les petites villes indiennes ? Au quotidien, qui contrôle l'accès et l'utilisation des ressources environnementales ? Comment ce contrôle s'exerce-t-il ? Répondre à ces questions contribue au développement d'une compréhension nuancée de la condition urbaine. Afin d'explorer ces questions une approche actor-oriented de la gouvernance quotidienne est développée, faisant appel aux littératures anthropologiques de la gouvernance quotidienne et de l'everyday state. Ce cadre conceptuel établit ainsi une approche d'Urban Political Ecology orientée vers les pratiques quotidiennes et la micro- politique de la (re) production des socio-natures urbaines. Cette thèse emploie des méthodes qualitatives mixtes. Trois cas sont présentés afin d'étudier : les clubs para (quartier) comme acteurs de la gouvernance; la gouvernance de la pondscape urbaine; et l'urban political ecology de la gestion des déchets solides. Ces études de cas permettent de mettre en lumière la façon dont le pouvoir influence la (re)production des socio-natures urbaines par le biais des pratiques quotidiennes de gouvernance environnementale d'un réseau complexe d'acteurs. Ce travail démontre également comment plusieurs intersectionnalités, y compris la classe, la caste et l'accès au pouvoir politique et social, façonnent ces pratiques de gouvernance et leurs produits. Finalement, cette recherche explore la manière dont les équilibres de pouvoir, la fabrication de lieux et la formation de la position du sujet peuvent à la fois résulter de et contribuer à façonner les pratiques quotidiennes de gouvernance environnementale et leurs produits. Cette investigation empirique fait ainsi plusieurs contributions à la littérature. Elle explore les questions jusque-là sous-étudiées de la gouvernance environnementale dans les petites villes en Inde, de l'urban political ecology de l'eau non courante et des déchets solides, ainsi que du rôle des clubs comme acteurs de la gouvernance. Celle-ci contribue également à des débats sur la façon d'approfondir et d'élargir l'urban political ecology en travaillant sur les pratiques quotidiennes, et sur des cas de socio-natures ordinaires, pas ouvertement contestées.

The First Privatization Policy in a Democracy: Selling State-Owned Enterprises in 1948-1950, Puerto Rico

In the 1940s, when the Governor of Puerto Rico was appointed by the US President and the Puerto Rican government was answerable only to the US Federal government, a large state-owned enterprise (SOE) sector was established on the island. Public services such as water, transportation and energy were nationalized, and several new manufacturing SOEs were created to produce cement, glass, shoes, paper and chalkboard, and clay products. These enterprises were created and managed by government-owned corporations. Later on, between 1948 and 1950, under the island’s first elected Governor, the government sold these SOEs to private groups. This paper documents both the creation and the privatization of the SOE sector in Puerto Rico, and analyzes the role played by ideology, political interests, and economic concerns in the decision to privatize them. Whereas ideological factors might have played a significant role in the building of the SOE sector, we find that privatization was driven basically by economic factors, such as the superior efficiency of private firms in the sectors where the SOEs operated, and by the desire to attract private industrial investment to the Puerto Rican economy.

Maritime transportation in the Gulf of Finland in 2007 and in 2015

The Gulf of Finland is said to be one of the densest operated sea areas in the world. It is a shallow and economically vulnerable sea area with dense passenger and cargo traffic of which petroleum transports have a share of over 50 %. The winter conditions add to the risks of maritime traffic in the Gulf of Finland. It is widely believed that the growth of maritime transportation will continue also in the future. The Gulf of Finland is surrounded by three very different national economies with, different maritime transportation structures. Finland is a country of high GDP/per capita with a diversified economic structure. The number of ports is large and the maritime transportation consists of many types of cargoes: raw materials, industrial products, consumer goods, coal and petroleum products, and the Russian transit traffic of e.g. new cars and consumer goods. Russia is a large country with huge growth potential; in recent years, the expansion of petroleum exports has lead to a strong economic growth, which is also apparent in the growth of maritime transports. Russia has been expanding its port activities in the Gulf of Finland and it is officially aiming to transport its own imports and exports through the Russian ports in the future; now they are being transported to great extend through the Finnish, Estonian and other Baltic ports. Russia has five ports in the Gulf of Finland. Estonia has also experienced fast economic growth, but the growth has been slowing down already during the past couples of years. The size of its economy is small compared to Russia, which means the transported tonnes cannot be very massive. However, relatively large amounts of the Russian petroleum exports have been transported through the Estonian ports. The future of the Russian transit traffic in Estonia looks nevertheless uncertain and it remains to be seen how it will develop and if Estonia is able to find replacing cargoes if the Russian transit traffic will come to an end in the Estonian ports. Estonia’s own import and export consists of forestry products, metals or other raw materials and consumer goods. Estonia has many ports on the shores of the Gulf of Finland, but the port of Tallinn dominates the cargo volumes. In 2007, 263 M tonnes of cargoes were transported in the maritime traffic in the Gulf of Finland, of which the share of petroleum products was 56 %. 23 % of the cargoes were loaded or unloaded in the Finnish ports, 60 % in the Russian ports and 17 % in the Estonian ports. The largest ports were Primorsk (74.2 M tonnes) St. Petersburg (59.5 M tonnes), Tallinn (35.9 M tonnes), Sköldvik (19.8 M tonnes), Vysotsk (16.5 M tonnes) and Helsinki (13.4 M) tonnes. Approximately 53 600 ship calls were made in the ports of the Gulf of Finland. The densest traffic was found in the ports of St. Petersburg (14 651 ship calls), Helsinki (11 727 ship calls) and Tallinn (10 614 ship calls) in 2007. The transportation scenarios are usually based on the assumption that the amount of transports follows the development of the economy, although also other factors influence the development of transportation, e.g. government policy, environmental aspects, and social and behavioural trends. The relationship between the development of transportation and the economy is usually analyzed in terms of the development of GDP and trade. When the GDP grows to a certain level, especially the international transports increase because countries of high GDP produce, consume and thus transport more. An effective transportation system is also a precondition for the economic development. In this study, the following factors were taken into consideration when formulating the future scenarios: maritime transportation in the Gulf of Finland 2007, economic development, development of key industries, development of infrastructure and environmental aspects in relation to maritime transportation. The basic starting points for the three alternative scenarios were: • the slow growth scenario: economic recession • the average growth scenario: economy will recover quickly from current instability • the strong growth scenario: the most optimistic views on development will realize According to the slow growth scenario, the total tonnes for the maritime transportation in the Gulf of Finland would be 322.4 M tonnes in 2015, which would mean a growth of 23 % compared to 2007. In the average growth scenario, the total tonnes were estimated to be 431.6 M tonnes – a growth of 64 %, and in the strong growth scenario 507.2 M tonnes – a growth of 93%. These tonnes were further divided into petroleum products and other cargoes by country, into export, import and domestic traffic by country, and between the ports. For petroleum products, the share of crude oil and oil products was estimated and the number of tanker calls in 2015 was calculated for each scenario. However, the future development of maritime transportation in the GoF is dependent on so many societal and economic variables that it is not realistic to predict one exact point estimate value for the cargo tonnes for a certain scenario. Plenty of uncertainty is related both to the degree in which the scenario will come true as well as to the cause-effect relations between the different variables. For these reasons, probability distributions for each scenario were formulated by an expert group. As a result, a range for the total tonnes of each scenario was formulated and they are as follows: the slow growth scenario: 280.8 – 363 M tonnes (expectation value 322.4 M tonnes)

Externalities of Shipping in the Gulf of Finland until 2015

During the last few years, the discussion on the marginal social costs of transportation has been active. Applying the externalities as a tool to control transport would fulfil the polluter pays principle and simultaneously create a fair control method between the transport modes. This report presents the results of two calculation algorithms developed to estimate the marginal social costs based on the externalities of air pollution. The first algorithm calculates the future scenarios of sea transport traffic externalities until 2015 in the Gulf of Finland. The second algorithm calculates the externalities of Russian passenger car transit traffic via Finland by taking into account both sea and road transport. The algorithm estimates the ship-originated emissions of carbon dioxide (CO₂), nitrogen oxides (NO_x), sulphur oxides (SO_x), particulates (PM) and the externalities for each year from 2007 to 2015. The total NOx emissions in the Gulf of Finland from the six ship types were almost 75.7 kilotons (Table 5.2) in 2007. The ship types are: passenger (including cruisers and ROPAX vessels), tanker, general cargo, Ro-Ro, container and bulk vessels. Due to the increase of traffic, the estimation for NO_x emissions for 2015 is 112 kilotons. The NO_x emission estimation for the whole Baltic Sea shipping is 370 kilotons in 2006 (Stipa & al, 2007). The total marginal social costs due to ship-originated CO₂, NO_x, SO_x and PM emissions in the GOF were calculated to almost 175 million Euros in 2007. The costs will increase to nearly 214 million Euros in 2015 due to the traffic growth. The major part of the externalities is due to CO₂ emissions. If we neglect the CO2 emissions by extracting the CO₂ externalities from the results, we get the total externalities of 57 million Euros in 2007. After eight years (2015), the externalities would be 28 % lower, 41 million Euros (Table 8.1). This is the result of the sulphur emissions reducing regulation of marine fuels. The majority of the new car transit goes through Finland to Russia due to the lack of port capacity in Russia. The amount of cars was 339 620 vehicles (Statistics of Finnish Customs 2008) in 2005. The externalities are calculated for the transportation of passenger vehicles as follows: by ship to a Finnish port and, after that, by trucks to the Russian border checkpoint. The externalities are between 2 – 3 million Euros (year 2000 cost level) for each route. The ports included in the calculations are Hamina, Hanko, Kotka and Turku. With the Euro-3 standard trucks, the port of Hanko would be the best choice to transport the vehicles. This is because of lower emissions by new trucks and the saved transport distance of a ship. If the trucks are more polluting Euro 1 level trucks, the port of Kotka would be the best choice. This indicates that the truck emissions have a considerable effect on the externalities and that the transportation of light cargo, such as passenger cars by ship, produces considerably high emission externalities. The emission externalities approach offers a new insight for valuing the multiple traffic modes. However, the calculation of the marginal social costs based on the air emission externalities should not be regarded as a ready-made calculation system. The system is clearly in the need of some improvement but it can already be considered as a potential tool for political decision making.

A comparative study of difficulties in accounting preparation and judgement in agriculture using fair value and historical cost accounting for biological assets valuation

This paper presents empirical research comparing the accounting difficulties that arise from the use of two valuation methods for biological assets, fair value (FV) and historical cost (HC) accounting, in the agricultural sector. It also compares how reliable each valuation method is in the decision-making process of agents within the sector. By conducting an experiment with students, farmers, and accountants operating in the agricultural sector, we find that they have more difficulties, make larger miscalculations and make poorer judgements with HC accounting than with FV accounting. In-depth interviews uncover flawed accounting practices in the agricultural sector in Spain in order to meet HC accounting requirements. Given the complexities of cost calculation for biological assets and the predominance of small family business units in advanced Western countries, the study concludes that accounting can be more easily applied in the agricultural sector under FV than HC accounting, and that HC conveys a less accurate grasp of the real situation of a farm.

The Environmental Status of the Port of HaminaKotka

This study is a part of the Ecologically Friendly Port Ust-Luga (EFP) project. The purpose of this study is to examine the environmental status of the Finnish ports and, more specifically, the Port of HaminaKotka. An analysis of the environmental status is performed mainly as a literature review, because the Finnish ports must comply with Finnish and EU legislation and with the binding international regulations and conventions created by different organizations. The International Maritime Organisation (IMO) has done groundbreaking work in the field of maritime safety and maritime environmental protection. The MARPOL convention has a great impact on decreasing pollution from international shipping and it applies to 99% of the world’s merchant tonnage. Pollution prevention covers: Oil pollution, Chemical pollution, Air pollution and GHG Emissions, Dumping of Wasted and Other Matters, Garbage, Sewage, Port Reception Facilities, Special Areas under MARPOL and Particularly Sensitive Sea Areas. There is also Pollution Prevention for other treaties like anti-fouling systems used on ships, the transfer of alien species by ships’ ballast water and the environmentally sound recycling of ships. There are more than twenty different EU and international regulations that influence ports and port operations in Finland. In addition, there is also national legislation that has an effect on Finnish ports. For the most part, the legislation for ports is common in the EU area, but the biggest and most important difference between the legislation in Finland and other EU countries is due to the Act on Environmental Impact Assessment Procedure. The Act states that the environmental impact assessment procedure shall be applied to projects that may have significant adverse environmental impacts, due to the special features of Finland`s nature and environment. In this Act, the term environmental impact refers to the direct and indirect effects inside and outside Finnish territory of a project or operations on human health, living conditions and amenity; soil, water, air, climate, organisms, interaction between them and biodiversity; community structure, buildings, landscape, townscape and cultural heritage; utilization of natural resources. In Finland, the Environmental Permit requires that ports collect all necessary information concerning environmental effects and make required reports to the Finnish authorities, stakeholders and the public. Commonly, environmental reporting is public and environmental achievements are emphasized in reporting and in media. At the moment, the problem in environmental reporting is that it’s difficult to compare data from different ports. There is enough data concerning the environmental effects and performance, but the manner of reporting and the quality of the data varies between ports. There are differences in the units and codes used, in some cases the information is not sufficient and it can even be rather unreliable. There are also differences regarding the subjects that are emphasized in reporting.