Explain why the historical cost principle is used to account for Essay

Explain why the historical cost principle is used to account for long-lived assets and how the cost basis is determined. Discuss - Essay Example The GAAP mainly relies on consistency of data conveyed by business financial records. Since historical methods does not depend on the speculated market prices, rather a real transaction that occurred, the cost is regarded as most reliable. For this reason, the historical cost principle is best used for reporting long-lived assets. It is the best method for reporting assets whose disposal may not be done in the near future. Examples of these assets include land, buildings, fixture, equipment and natural resources such as mineral deposits, oil wells and timber tracks. Under the historical cost principle, assets are recorded at acquisition cost as indicated on the balance sheet. In accounting for purchases of long-term assets, interest expense is subtracted from the original cost or cost of acquisition. The book value of long-term assets can be calculated by getting the accumulated depreciation subtracted from acquisition cost. To estimate an asset’s useful life, important variab les such as acquisition cost, depreciation expense per year and salvage value should be determined. The following methods are used to estimate asset’s useful life; straight-line depreciation method, production method and double (declining) methods. Useful life can then be calculated as follows: Asset impairment Asset impairment refers to an abrupt deterioration in the usefulness of a long-term asset often caused by damage effects on the asset, obsolescence due to the ever-changing technology or a change in the county’s laws prohibiting the use of an asset. It occurs when the future benefit of an asset known as market value is below the recorded book value (cost-accumulated depreciation). When impairment occurs, the current market value of the asset should be written down and a loss recognized. First, long-lived assets are selected for purposes of performing impairment testing as well as establishing the net book value. Secondly, determine the level of impairment by fin ding the total undiscounted cash flows expected from the selected assets. The net book and the undiscounted cash flow figures are then compared with intent of establishing which of the values have higher figures. If the net book value is higher than the undiscounted cash flow value, then the amount of variance is determined and recorded. Common Asset Depreciation Methods Depreciation refers to two main concepts; i. Diminished value of assets also called fair value This principle or concept has an impact on the balance sheet of a firm or a business entity. ii. Depreciation with corresponding principle, which is the allocation of the asset cost to periods upon which that particular asset is in use. This affects the net gain of reported assets. It is worth noting that when computing depreciation using a particular method, the cost of an asset is allocated to that period the use of an asset covers or is used. The expense is vital for purposes of financial reporting and taxation. In choo sing a suitable method of computing depreciation, value of assets, the type and periods upon which the asset is used is important. These computing methods are specified in laws and statutes or accounting standards that vary from one country to another. It is important to note that some depreciation computing methods exists, but the common methods include; fixed percentage depreciation method, straight-line computing method and declining balance. It is also

Self harm and suicide Coursework Example | Topics and Well Written Essays - 250 words

Self harm and suicide - Coursework Example One of the most common myths is that by asking a person on what their suicide thoughts are they are prompted to actually commit suicide. This myth can be handled through knowing the fact that when an individual is asked about their suicidal thoughts their sense of isolation is lowered and they feel cared for and that there is available help. Another common myth is that suicide and self-harm happen without warning. The nurses being aware that most individuals before committing suicide they are verbal about their distress and pain can handle this myth. In addition, the myth that suicide only happens to specific people is common. The nurses bearing in mind that anybody is capable of committing suicide can handle the myth. Finally, the myth that people who talk about suicide are just attention seekers is common. Nurses need to know that in most cases patients will try to communicate before they actually commit suicide (Krysinska,

Tourette Syndrome Essay -- Disorders Medical Health Essays

Tourette Syndrome Gilles de la Tourette Syndrome is one of a number of tic disorders usually first diagnosed in infancy, childhood, or adolescence. The Tic Disorders can be distinguished from one another based on duration and variety of tics and the age at onset. Tourette’s Disorder has duration of more than 12 months. The estimated incidence of Tourette’s ranges widely but is probably four to five individuals per 10,000. It occurs two to three times more frequently in males. Undoubtedly, there are numbers of other students with symptoms who have not been diagnosed. When diagnosed and treated early, many of the associated learning, emotional, and social disabilities it produces can be lessened or dealt with more effectively. The goal of any program for a person with Tourette Syndrome is to assist the person in learning and interacting productively in school and society. Toruette Syndrome is a multiple tic disorder, with motor and vocal tics present, but not necessarily concurrently, which begins in childhood and is a lifelong condition that seems to change in its manifestations and intensity. The cause of Tourette Syndrome is unknown. The basic defect is thought to be a biochemical abnormality in the ganglia of the brain. Diagnosis 1. Age of onset before the age of 18, usually between 6-7 years of age 2. Rapid, recurrent, repetitive, purposeless, and involuntary motor movements affecting multiple groups of muscles. 3. Multiple vocal tics (gr...

Describe a time when you had to convince a group/person of your idea Essay

â€Å"Don’t do this to me!† That was the Customer Service Manager’s reaction when I first presented my idea. With the increasing number of local skilled competitors in Latin America, our dominant position in 2011 was in jeopardy. They were simply closer and could offer a cheaper service. Therefore, I decided that we needed to establish a local technical team to cater to the clients. However, in the current economy, creating an infrastructure by hiring people didn’t seem the way to go. Then it hit me that by reaching agreements with skilled, local maintenance companies, we could share the training costs and appoint them as our official technical service. That way we would provide a cheaper and closer service, and those companies would get additional revenue. First I spoke to our Customer Service Manager. Bearing in mind that most of the work would be carried out in that department, I believed it was necessary for him to get involved rather than to impose this idea. Without his cooperation, it would simply not work. At first he was completely against the idea. He argued that an outsourced technical service would be a huge load of additional work, and that skills could only be achieved through long-term experience. I made him realize that at first it would need a lot of work, but that when they would become trained and self-sufficient, they would be a priceless help and would ease the extremely tight schedule our technicians were subjected to in Barcelona. We agreed it would be him who would establish the training requirements, no matter how demanding he thought it should be, and it would be up to me to get the expenses approved. We drafted together a proposal describing how this service would work, how it should be contracted through us and invoiced by us and how the training would be carried out. Our joint approval would be necessary to schedule and later pay for the outsourced services to keep a technical and a commercial control on it. Through contacts’ recommendations, I found two skilled engineers, one in ARGENTINA and another in PERU, that I thought met the requirements to represent my company. I negotiated a pre-agreement which involved competitive hourly rates, confidentiality and conditions of operation previously defined with the Customer Service manager. We also agreed that we would divide the training expenses. My boss immediately agreed to the idea but asked me to put together more information to economically justify the project, in order to approve the capital. Instead of speculating about potential sales and expected market response, I  decided to compare the real average costs of guaranteed services in the previous years to the theoretical costs if the agreements would have been in place. Thus, the difference justified by far the costs of training. We presented the complete document and, not only was it approved immediately, but the other heads of department were instructed to implement this idea in their own markets; and our Customer Service Manager proudly added â€Å"International† to his title†¦

Reduce the Amount of Junk Mail You Receive by 90%

If you’re interested in living a more eco-friendly lifestyle, heres something you can do that will help protect the environment and preserve your sanity: reduce the amount of junk mail you receive by 90 percent. According to information from sources such as the Center for a New American Dream (CNAD;  a Maryland-based nonprofit organization that helps people consume responsibly to protect the environment, enhance quality of life, and promote social justice) reducing the amount of junk mail you receive will save energy, natural resources, landfill space, tax dollars, and a lot of your personal time. For example: 5.6 million tons of catalogs and other direct mail advertisements end up in U.S. landfills annually.The average American household receives unsolicited junk mail equal to 1.5 trees every year—more than 100 million trees for all U.S. households combined.44 percent of junk mail is thrown away unopened, but only half that much junk mail (22 percent) is recycled.Americans pay $370 million annually to dispose of junk mail that doesn’t get recycled.On average, Americans spend 8 months opening junk mail in the course of their lives. Register Your Name to Reduce Junk Mail OK, now that you’ve decided to reduce the volume of junk mail you receive, how do you go about it? Start by registering with the Mail Preference Service of the Direct Marketing Association (DMA). It won’t guarantee you a life free of junk mail, but it can help. DMA will list you in its database in the â€Å"Do Not Mail† category. Direct marketers are not required to check the database, but most companies that send large volumes of bulk mail do use the DMA service. They realize there is no percentage in routinely sending mail to people who don’t want it and have taken action to prevent it. Get Off Junk Mail Lists You can also go to OptOutPreScreen.com, which can enable you to remove your name from lists that mortgage, credit card, and insurance companies use to mail you offers and solicitations. It’s a centralized website run by the four major credit bureaus in the United States: Equifax, Experian, Innovis, and TransUnion. Most businesses check with one or more of these companies before accepting your credit card or granting you credit for a long-term purchase. They are also a huge source of names and addresses for credit cards, mortgage and insurance companies that routinely send junk mail to attract new customers and solicit new business. But there’s a way to fight back. The federal Fair Credit Reporting Act requires credit bureaus to delete your name from their rented lists if you make the request. Contact Companies That Send You Junk Mail If you’re serious about ridding your life of as much junk mail as possible, then simply registering with these services may not leave enough space in your mailbox. In addition, you should ask all of the companies you patronize to place your name on their â€Å"do not promote† or â€Å"in-house suppress† lists. If you do business with a company by mail, it should be on your contact list. That includes magazine publishers, any companies that send you catalogs, credit card companies, etc. It’s best to make this request the first time you do business with a company, because it will prevent them from selling your name to other organizations, but you can make the request at any time. Keep Track of Your Name to See How Junk Mail Is Generated As an extra precaution, some organizations recommend that you track where companies are getting your name by using a slightly different name whenever you subscribe to a magazine or begin a new mail relationship with a company. One strategy is to give yourself a fictional middle initials that match the name of the company. If your name is Jennifer Jones and you subscribe to Vanity Fair, simply give your name as Jennifer V.F. Jones, and ask the magazine not to rent your name. If you ever receive a piece of junk mail from other companies addressed to Jennifer V.F. Jones, you’ll know where they got your name. If this all still seems a bit daunting, there are resources to help you get through it. One option is to use stopthejunkmail.com, which can provide further assistance or guidelines for reducing junk mail and other intrusions, from unwanted e-mail (spam) to telemarketing calls. Some of these services are free while others charge an annual fee. So do yourself and the environment a favor. Keep the junk mail out of your mailbox and out of the landfill. Edited by Frederic Beaudry.

Women in Film - 1225 Words

There is a certain image with women in film. Women were and still highly sexualized and have a certain illusion that is consistent among them. Women often appear as an object to be looked at and acted upon. The male protagonist has a more active role within the narrative. They are seemed to be the more superior character while the women have a much more supporting role. The same is true to the 1940 comedy His Girl Friday and the 1958 thriller Vertigo. In both films, the image of the woman is important, as well as their role in the film. The image of the woman is highly sophisticated, proper, and simple. Throughout His Girl Firday, our leading female character, Hildegard â€Å"Hildy† Johnson, played by Rosalind Russell, was struggling to keep her current persona of a woman who wants to settle down in the newspaper business. When first introduced to Hildy, she was engaged and about to marry Bruce, an insurance agent played by Ralph Bellamy. Hildy wants to settle down to a quiet life as a wife and mother in Albany, New York. This is the typical portrayal of women during that time; they were expected to marry a nice man, take care of the husband’s parents (Bruce’s mother in Hildy’s case), and have a couple of kids to take care of. The same is similar in Vertigo, where Madeleine was married to Scottie’s old college friend, Gavin. Contrasting to His Girl Friday, Hitchcock’s Vertigo was restricted to Scottie’s awareness; a man’s awareness. This film was more visually focused on theShow MoreRelatedRole of Women in Horror Films1103 Words   |  5 Pagesthe Stereotypical portrayal of Women in horror films. Since the horror genre is quite a broad category, I’ve decided to focus mainly on Slasher films, a subgenre of horror film. Traditionally women are represented in horror films are blonde hypersexual damsels in distress with a seductive body language and strong make up being attacked by the killer because they have committed a sinful act. You may have noticed that the young girls that do get killed, in these films are those that have scenes showingRead MoreWomen in Contemporary Horror Films1741 Words   |  7 PagesFEMINITY IN CONTEMPORARY HORROR FILM One might say that horror film- genre has been invented by feminists. Horror films seem to be one of the only genres that have women as heroines instead of dominated side characters. In horror genre women are the ones fighting against evil and men are the ones dying trying to help these heroines. Or perhaps the horror genre uses heroines to differ it self from hero dominant action genre. Or maybe horror films were created to represent the ultimate horror ofRead MoreUnfair Representation of Women in Film1740 Words   |  7 Pagesexperience insecurities about their appearance and personalities, it is women who have a greater population effected by the media. Women are exploited more so than men when it comes to appearance and show negative stereotypical attributes when it comes to personality. One particular form of media embodies both aspects; film. For decades the movie industry has arguably been the leading form of entertainment for children and young adults. Film has been imbedded in our culture and education. At first, moviesRead MoreWomen Of The North Korean Films996 Words   |  4 Pagesprojected image of women in North Korean films as well. In the films where there is a female lead, A Traffic Controller on Crossroads, Order No. 27 and A Broad Bellflower, there are surprisingly given are very much given a position of influence, diligence, and authority on a small scale. According to Suk-Young Kim, she emphasizes the this when she states, â€Å"To extol the values of a female workforce, visual media promoted the image of working women in all spheres, but most notably, military women were the cruxRead MoreThe Film Red Detachment Of Women1541 Words   |  7 PagesIn subsequent years following the establishment of the People’s Republic of China came a revolutionary new approach to not only producing films, but also film’s very role in communist society. During this period the state gained complete control of the filmmaking industry, decreeing that the utilitarian functions of art and literature were to become a powerful weapon in serving the revolutionary struggle. In an otherwise artistically stifling period in which socialist realism pervaded all creativeRead More Women In Films: User Or Victim? Essay1452 Words   |  6 Pages Women in Films: User or Victim? Women in Films: User or Victim? Designed to prove that a woman can be anybody she desires to be, the legendary film, Evita, is now shown to millions of movie viewers. Alan Parker=s Evita is a reflection of the much-publicized images of two popular self-made heroines of different era, Evita and Madonna. The discussion of this essay will show us how these ladies got far and revered once by their followers. The life of Evita Peron is almost like a dramatizationRead MoreEssay about Women, Sport Film1077 Words   |  5 PagesWomen, Sport Film In some ways, women today face more pressure to be perfect than ever before in history. The feminine ideal of the past has been replaced by a new face — stronger and more independent, but under no less pressure to conform to societys expectations than her predecessors. Todays woman must be all that she was in the past, and more. In addition to being beautiful, feminine, and demure, she must also be physically fit and academically and socially successful. It is no longerRead MoreKey Elements Of Women In Mustang : Crench Film Turkish-French Film926 Words   |  4 Pagesis an internationally produced Turkish-French film of the drama genre that was initially released at the 2015 Cannes Film Festival. The film follows five orphaned girls residing with their Grandmother and Uncle Erol in contemporary conservative Turkey; when they are spotted socialising with a group of males on a beach, they are trained in activities such as cooking that are seen as being the role of women in Turk ey. The film uses the key elements of film form in order to achieve this and reflect otherRead More Strong Chinese Women in Film Essay1843 Words   |  8 PagesIn Confucian thought, women had their purpose beside their men or within their households as mothers. However, the legend of Hua Mulan precedes Confucius. Mulan’s story had inspired early Chinese Feminists such as Qiu Ji to go against the society built to keep her space as a woman separate from the rest of the world. In modern times, Fa Mulan (from Disney) added more diversity to the usual Disney Princesses and gave westerners an image of Chinese culture. The Disney film about Fa Mulan and theRead MoreWomen Being Influenced by the Portrayal of Their Roles in Film861 Words   |  4 PagesWomen being influenced by the portrayal of their roles in film Assignment 2A By Hoe Shuhui Joanne (S9132359A) Group No. 25 Academic Writing WRIT001/Term 2 – 2010/2011 I declare that this Assignment is my original work and all information obtained from other sources has been cited accordingly. Joanne Hoe 17/02/2010 Turnitin _______________________ Similarity Signature and Date Index % Course Instructor: Katherine Barg As the definition of being a

Tragic Characters of Sophocles Antigone Examining...

As humans, we tend to place both familiar and unfamiliar objects alike in groups, representing certain characteristics specific to that object. This psychological feat is known as categorization. We categorize everything from the food we eat to the clothing we wear, and even the literature that we read. The groups of literary works are known as genres. Within this category of genres are plays, and a subcategory is the tragedy. Though not so romanticized by contemporary authors, tragedies were particularly popular during the ancient times. Through out his lifetime, Sophocles wrote tens of plays, but one in particular, Antigone earned him his esteemed title. In Antigone, there is much debate present about who the tragic character is. A tragic character (sometimes called tragic hero) is a character who undergoes a reversal of fate, essentially hubris. Many opine the Creon is the tragic character as he experiences the ultimate reversal of fortune when his son, wife, and niece die as a r esult of his own decision. An essential part of Creon’s fatal flaw is his pathological fear of loosing his crown and his control over the city-state of Thebes. As a result of this fear, Creon goes to unimaginable lengths to say that the people near and dear to him (Haimon and Tiresias) have betrayed him. Sophocles makes Creon’s paranoia evident by writing, â€Å" All my life long I have been a kind of butt for the dull arrows of doddering fortunetellers†¦ It is a sorry thing when a wiseShow MoreRelated Creon as Tragic Hero of Sophocles Antigone Essay593 Words   |  3 PagesCreon as Tragic Hero of Sophocles Antigone There has always been a bit of confusion as to the tragic hero of the Greek Drama Antigone. Many assume that simply because the play is named for Antigone, that she is the tragic hero. However, evidence supports that Creon, and not Antigone, is the tragic hero of the play. Examining the factors that create a Greek Tragedy, and a tragic character, it is clear that the tragic hero is in fact Creon. First, take into account the timeframe in which