The word ‘close’ has dynamically two different meanings depending upon the usage either as a verb or otherwise. If one says he is close to you, it means he is nearer to you either by distance or conception. If the same is used as ‘verb’, it connotes altogether an opposite meaning. If thou say, please ‘close’ the talk, it means ‘stop or block’, virtually lock further. The remedy to that is ‘disclose’. Therefore, to ‘disclose’ (verbal usage), one of the prerequisites is to unlock that which is closed.
Here again, there is a difference between ‘close’ (meaning close or nearer to something) and disclose/ disclosure (noun usage). In the case of the former, one comes to close to the object and in the case of the latter, it is the binding duty of the entity itself to disclose meaning reveal or unveil.
Disclosure Norms for Living Figures:
Disclosure norms are aesthetically different for living figures from book figures. The disclosure norms for living figures are evolved over the period by the various cultures, decorum developed by the passage of time, conventions or other legal requirements of the day. Discloser standards of living beings relay age group; and depend on the form of living beings-whether human kingdom or animal kingdom. There is no much dress code for children just born- say babies- they crawl around naked and no nuisance of it- in fact, parents like and love their children in that unclothed dress style at that innocent age. Beyond that juvenile, dress code operates and in some dispensation, it is too rigid gender wise. For animal kingdom, dress code is the same as unclothed right from inception. Neither obligation nor restriction is on them. They roam around without any stint of obscene. For human kingdom, dress code is altogether different depending on the profession –military, police, etc. since coming under uniform dress code. On the top of this, what is to be enacted- disclosure norms in bed room cannot be enacted in drawing room. That is the unwritten ethics. At this point of time, It crosses rather flashes my mind to the relevant portion of a poem on ‘BEACH’ written by this author and published by Phoenix International to highlight how the trivial nature of entertainment may spark discomfiture and awkwardness bordering on obscene inviting wrath from criminal law. What is emphasized is there should be a sense of decorum to be maintained. The relevant portion is quoted below verbatim to radiant the sentiment.
“Since no space for lovers’ game,
In their tiny match box houses,
Where they could only lie flat,
As there’re only small flats.
Old ones find solace in the beach,
Sometimes strolling for a walk in the beach,
Apparently to have a sea breeze,
But ending up in stealing a she- breeze!
Whence skirts and minis are dancing to the breeze,
To the rhythm of the ups and downs of the waves in the beach,
Igniting spark in the beach,
Creating for others sparkles in the beach”.
Disclosure Norms for Book Figures:
Coming to the book figures, disclosures norms are dictated by various standards and other legal and regulatory requirements. By and large, all Accounting Standards prescribe the minimum disclosures that every entity has to comply with. There are specific standards only for disclosures like Related party Disclosures understanding the importance of transactions with relative parties. Even Companies Act have specific Sections for transactions with related parties thoughtful of any possible under hand- to ward of any hanky-panky. Besides, the entities are encourages more disclosures so long as they are not detrimental to the interest of the entities. It means disclosers are privy to the stakeholders spread across the globe.
Conclusion:
The purpose of the article is not to list out disclosures required by various standards, legal and regulatory requirements that may enlarge the article size to a book bulk but only focus the importance of disclosures for all stakeholders spread across. It is also to highlight the approach different between living figures and book figures.
Disclosures of living figures (human kingdom) beyond accepted decency are discouraged, in fact, a taboo inviting the wrath of criminal law as an obscene act, but, what about book figures? It is an offence only if not disclosed. Disclose and merrily disclose!
It is as clear as thin air while the disclosure code ( dress style) of human kingdom even today vastly varies country to country and culture to culture, the disclosure code for book figures are converging across the globe for better understanding of the figures in the books in the globalised atmosphere.
It is a small article but in my opinion coveys all in depth.
I want to conclude with a couplet of mine that is published in the above book reffereds. To quote, it runs as follows:
‘Don’t ignore anything small,
Since in small there is all’
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