Property, Plant, and Equipment free essay sample

Plant and Equipment Property, Plant and Equipment I- Nature of Accounting Issues Businesses purchase and use a variety of fixed assets, such as equipment, furniture, tools, machinery, buildings, and land. These fixed assets are long-term or relatively permanent assets. Also, they are tangible assets because they exist physically. They are owned and used by the business and are not offered for sale as part of normal operations. Perhaps the most descriptive titles these assets are known under are plant assets or property, plant and equipment. Depending on the industry, the plant assets of a business can be a significant part of its total assets. That is why the accounting for these long-term assets has important implications for a company’s reported results. In this paper, we discuss the proper accounting for the acquisition, use, and disposition of property, plant, and equipment. Before going over a brief overview of the nature of accounting issues, we ought to take a deeper look at what plant assets really are. We will write a custom essay sample on Property, Plant, and Equipment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The major characteristics of property, plant, and equipment are as follows: * They are acquired for use in operations and not for resale. Only assets used in normal business operations are classified as property, plant, and equipment. For example, an idle building is more appropriately classified separately as an investment. Also, land developers or sub dividers classify land as inventory. * They are long-term in nature and usually depreciated. Property, plant, and equipment yield services over a number of years. Companies allocate the cost of the investment in these assets to future periods through periodic depreciation charges. The exception is land, which is depreciated only if a material decrease in value occurs, such as a loss in fertility of agricultural land because of poor crop rotation, drought, or soil erosion. * They possess physical substance. Property, plant, and equipment are tangible assets characterized by physical existence or substance. This differentiates them from intangible assets, such as patents or goodwill. Unlike raw material, however, property, plant, and equipment do not hysically become part of a product held for resale. The content of this paper will be centered on the four main accounting issues we face when dealing with property, plant, and equipment. The first one is computing the costs of these plant or fixed assets; the following one is how to allocate the costs of those fixed assets–depreciation- (less any salvage amounts) against revenues for the cor responding periods; the third one is how to account for expenditures such as repairs, additions and improvements to these plant assets; and finally how to record their disposal. The following table provides a summary of these accounting issues: II- Historical Background of the Accounting Rules in the U. S and Internationally * IFRS Standards Background Information An important and considering factor for understanding the International Financial Reporting Standards is having a little history about it how it came to be. Before we go any further about property, plant, and equipment, we must first discuss the history and background of how the standards under IFRS originated and the importance of defining why it originated. In order to understand IFRS, we need to examine what the International Financial Reporting Standards are. With that in mind, we want to reference the authors of Understanding IFRS Fundamentals: International Financial Reporting Standards, â€Å"IFRS are a set of standards promulgated by the International Accounting Standards Board (IASB), an international standard-setting body based in London† (Ankarath 2). This quote tells us who makes IFRS and where IFRS originated from. The International Accounting Standards Board made it clear that when developing the standards, they wanted to make them clearly stated and based on principles instead of rules-based like U. S. GAAP. In other words, IFRS are rooted in â€Å"the approach [principles-based, that] focuses more on the business or the economic reality of transactions and the underlying rights and obligations instead of providing prescriptive rules† (Ankarath 2). This basically means that IFRS is not setting certain rules to be followed and are instead giving guidance in the form of principles. We now want to look into the International Accounting Standards Board and framework for the preparation and presentation of financial statements. The conceptual frameworks are split into five categories and are in the following order: the objective of financial statements; underlying assumptions; the qualitative characteristics that determine the usefulness of information in financial statements; the definition, recognition, and measurement of the elements from which financial statements are constructed; and the concepts of capital and capital maintenance (Ankarath 11). The standards under IFRS are beginning to become much more popular across the world for several different reasons. The International Financial Reporting Standards are currently being used by at the very least 100 countries and â€Å"[was] expected that by 2011, more than 150 countries [would] have adopted them† (Ankarath 1). We happen to find this important because it seems that a lot of countries are starting to adopt IFRS to report their financial statements. One of the reasons why many countries made the switch over to IFRS is because â€Å"the decision of the U. S. SEC to allow foreign private issuers to list their securities on U. S. stock exchanges using IFRS and without reconciling to U. S. GAAP has also made it incumbent upon accountants, finance professionals, analysts, and bankers to become proficient in IFRS† (Ankarath 1). Another significant factor when dealing with IFRS is the rise of globalization and businesses within countries wanting to have the flexibility and ability to compete worldwide. This made countries seek and adopt accounting standards to give investors, creditors, financial analysts, and the financial statements needed to be comparable and of high-quality. This became a difficult issue because companies ran into the problem of not being able to compare financial statements unless they were under a certain set of standards. With that being said, â€Å"International Financial Reporting Standards are increasingly becoming the set of globally accepted accounting standards that meet the needs of the world’s increasingly integrated global capital markets† (Ankarath 2). * U. S. GAAP Standards Background Information In order to fully understand the topic of plant, property, and equipment, we first must consider how the FASB has implemented its standards in the past. So before we go any further into the â€Å"nuts and bolts† and foundation of the accounting standards followed under U. S. GAAP, we first want to discuss what GAAP is, who created GAAP, how it was created, and the hierarchy of GAAP after codification. The answers to these questions will give us a better understanding of U. S. GAAP and the historical background needed to fully understand how U. S. GAAP works in practice with respect to fixed assets. According to Steven Bragg, author of Wiley GAAP 2011: Interpretation and Application of Generally Accepted Accounting Principles, â€Å"the phrase â€Å"generally accepted accounting principles† is a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time† (Bragg 1). The main concerns under GAAP are the measurements of economic activity, as mentioned earlier, GAAP used a more rules-based approach and â€Å"thus GAAP is a reaction to and a product of the economic environment in which it develops† (Bragg 2). The creation of U. S. GAAP dates back to the stock market crash of the 1930’s. Its original goal was to try and help pick the economy back up. With the economy being in distraught, â€Å"the AICPA created a special committee to work with New York stock exchange toward the goal of establishing standards for accounting procedures† (Bragg 2). This committee did not get very far in achieving its goals because of limited resources and lack of research efforts. The APB (Accounting Principles Board) was then used in order to have better research and to report its findings to the division of the AICPA concerning accounting principles. However, the APB was not as successful as they hoped for and this made forth for the Financial Accounting Standards Board (FASB) to try and solve these problems of poorly written accounting procedures. The FASB was formed in 1972 and â€Å"is recognized as authoritative through Financial Reporting Release 1 of the SEC and through Rule 203 of the AICPA code of professional conduct† (Bragg 3). The FASB issues many types of pronouncements to help ensure that companies using U. S. GAAP are doing so by the book and â€Å"the FASB staff is empowered to issue implementation guides† to help companies report their financial statements to be comparable (Bragg 3). Another important creator of U. S. GAAP that we want to briefly explain is the Emerging Issues Task Force (EITF) that was formed by the FASB in 1984 in order to help assist current and future issues to be raised. We now want to shift our topic away from the creators of U. S. GAAP and discuss how the 5-level hierarchy got condensed into two categories and briefly explain the hierarchy of GAAP after codification. An important date in history is July 1, 2009, when the FASB Accounting Standards became the official source of authoritative, nongovernmental U. S. generally accepted accounting principles (Bragg 7). This codification or condensation in our opinion made the 5-level hierarchy split into two categories that reorganizes the large number of U. S. GAAP pronouncements into roughly 90 accounting topics and each has some sub-topics. The way the codification is arranged is simply by topic, subtopics, sections, and subsections to make it easier for accountants to follow the rules and it also makes it easy for accountants to look up. The four main areas of the codification for topics are as follows: presentation, financial statement accounts, broad transactions, and industries. An example we found as to how to read the codification is through â€Å"a hybrid classification developed by the FASB that follows the structure of XXX-YY-ZZ-PP, where XXX=topic, YY=subtopic, ZZ=section, and PP=paragraph† (Bragg 8). As you can see this makes it very easy for anyone to find the topic they are looking for because everything is broken down by code. We also must account for what happens when there are updates to the codification and the way the FASB handles this is through organizing the new standards using the same section heading as those used in the codification. Whenever there is a new standard they are â€Å"deemed to be non-authoritative in their own right; [and] instead, the new standards serve only to update the codification and provide the historical basis for conclusions of a new standard† (Bragg 9). Now that we have discussed some background information of U. S. GAAP, we are now ready to examine these standards with respect to property, plant, and equipment. III. Recognition and Measurement The International Accounting Standards, or IAS, and Generally Accepted Accounting Principles, or GAAP are both essential tools in helping accountants provide accurate financial information and reports to shareholders, external users and internal users. There are differences and similarities as well as advantages and disadvantages between the two sets of recognition and measurement rules when it comes to the requirements under the topic of Property, Plant, and Equipment. Even though under IFRS, the International Financial Reporting Standards, it is globally accepted amongst most countries, GAAP provides easier comparability, a more straight forward cost system and may be less costly in the long run. Before comparing the similarities and differences between the recognition and measurement rules of property, plant and equipment in IFRS and GAAP, it must first be clarified whether accountants within the United States are even allowed to apply IFRS guidelines in reporting. According to one of the well-renowned and respected accounting firms, McGladrey it has been a constant and ongoing debate within the Securities Exchange Commission or SEC for the final decision on determining which set of reporting standards to adopt. The recognition and measurement rules for property, plant and equipment is located in the International Accounting Standard (IAS) 16 under IFRS and in the Accounting Standards Codification (ASC) 360 of FASB. First, to determine what is recognized as Property, Plant and Equipment under IAS 16: it must be a tangible item, held for use in the production or supply of goods and services. Then, recognition under IFRS requires the entity to apply â€Å"the general asset recognition principle to all property, plant and equipment costs at the time they are incurred, including initial costs and subsequent expenditures† (IN6) meaning that they are all measured at cost at initial recognition, and after that the entity can choose either to apply the cost or revaluation model. Under GAAP, however, property, plant and equipment are still measured under the cost model: the carrying amount is equal to the initial cost minus accumulated depreciation minus accumulated impairment losses. Also, it is noted that during the construction period in preparing the asset to become ready for its final stage of intended use, certain interest costs are capitalized. Since the revaluation method is not allowed under U. S. GAAP, it can be argued that IFRS would be a more accurate model of reporting the costs of property, plant and equipment. Under valuation, IFRS uses the cost model, like in GAAP mentioned above or it can use the revaluation model in which it recognizes the carrying value of property, plant, and equipment assets at fair value at the date of revaluation minus accumulated depreciation since revaluation date minus accumulated impairment losses since revaluation date. According to IAS 16 if the carrying value is less than fair value at revaluation date, then the carrying value is increased to fair value and recognized in comprehensive income. On the other hand, if the carrying value is greater than fair value at revaluation date, then the carrying value is decreased to fair value, decreasing revaluation surplus which is then recognized in profit or loss. Measurement at recognition under IFRS standards also include a lot of the obligations in anticipating the disposal element of an asset, such as requiring entities to both include the costs of removal, restoration and dismantlement of an aspect of property, plant and equipment as well as measuring a property, plant and equipment asset at fair value if there is commercial substance in an exchange involving a non-monetary asset. For the issue of recognition and measurement of depreciation in an asset of property, plant or equipment IFRS and GAAP both allow the same depreciation methods including: straight line, accelerated, and units-of-production. They both allocate the cost of the asset over its useful life, and have the option of component depreciation; however, it is not often used in US GAAP, while component depreciation is required under IFRS if the useful lives of the component are different. GAAP requires the recognition of an impairment loss under certain events that change the book value of an asset, like a significant decrease in market price, a significant change in its physical condition or how it is being used to name a few. The measurement of depreciation is a two-step process involving two tests. First, applying the recoverability test, which is required only when the undiscounted sum of future cash flows is less than the book value and thus, the entity will record depreciation at cost basis, for example: debiting depreciation expense and crediting accumulated depreciation on the income statement. Second, is measuring an impairment loss of the revaluation, which is the fair value minus the book value. Then, to adjust the property, plant and equipment assets to fair value and record revaluation surplus, the entity will debit accumulated depreciation for its cost, and credit the asset and its revaluation surplus for the difference between fair value and book value. In analyzing the differences and similarities between the recognition and measurement guidelines that GAAP and IFRS provide, it can be seen that a convergence between the two reporting standards may be the best solution to a more uniform and easy to comprehend universal accounting principles. The cost method is used in GAAP for both the initial costs and thereafter, while both the cost method and revaluation method is used in IFRS allowing the cost basis to be raised to fair market value, this then allows for appreciation without creating a capital gain. Regarding the recognition and measurement of depreciation and impairment losses, there are also both similarities and differences between IFRS and GAAP and the conceptual framework. It has consistently been an ongoing issue in the convergence of the guidelines of recognition to using the fair value measurement and revaluation option for property, plant and equipment over the cost model of US GAAP, but only time can tell what is decided for the future of accounting reporting. IV- Presentation and Disclosure Rules There are presentation and disclosure rules that both IFRS and GAAP set forth in order to provide adherence and cooperation amongst many for the sake of a better understanding and communication of the financial statements for different entities. Presentation rules amongst IFRS and US GAAP are very similar but there are some differences. For presentation of financial statements under IAS 1, there are many requirements and guidelines set in order to provide a structure for financial statements that everyone could understand. There is an exact objective for providing presentation rules for financial statements and that is to be able to compare information with previous periods or with other financial information from other entities. â€Å"The objectives of IAS 1 are to ensure comparability of presentation of that information with the entity’s financial statements of previous periods and with the financial statements of other entities (Wiley IFRS). Usually, the presentations of financial statements include the Balance sheet, income statement, a cash flow statement, and a statement of changes in equity. Now with IAS 1 revised, the balance sheet is called the statement of financial position and there is a statement of comprehensive income included. With presentation rules under US GAAP, the presentation of comparative financial statements’ objective is to clearly bring out the nature of certain events and changes in an entity. According to U. S GAAP, financial statements for a period should also show the financial position at the end of the period, earnings and net income for the period, cash flows during the period, and investments by and distributions to owners during the period. Comprehensive income for the period is included in one statement, or two separate but consecutive statements, only if the reporting entity is required to report comprehensive income. The statement of financial position, the income statement, and the statement of changes in equity should be presented for one or more previous years and also for the present years. Just by looking at the presentation of the financial statements, it is recognized that there are many similarities between IFRS and US GAAP. Therefore it is not much of surprise to see there is an abundance of similarities under both IFRS and US GAAP with the subject of property, plant, and equipment disclosures but there are few differences that should be acknowledged. Under IFRS, IAS 16 provides disclosure requirements and a specific way of presentation for property, plant and equipment. The information that needs to be disclosed is the gross carrying amount, the accumulated depreciation, and the detailed reconciliation of the carrying amount at the beginning and end of the period. Other information includes the measurement bases used for determining the gross carrying amount and the depreciation methods and rates or useful lives. Restrictions and contractual commitments related to property, plant, and equipment and compensation for assets impaired, given up or lost must be disclosed as well (Friedrich, 2009). For example, with each class of long-lived asset the amount of impairment losses recognized in profit or loss for each period being reported upon must be stated under the comprehensive income statement. Or if any impairment losses were recognized in other comprehensive income and in revaluation surplus in shareholders’ equity it should be disclosed as well. If the items of property, plant, and equipment are stated at revalued amounts then there are certain requirements that the entity must disclose such as: * the effective date of the revaluation * whether an independent valuer was involved * the methods and significant assumptions applied in estimating the items’ fair values * the extent to which the items’ fair values were determined directly by reference to observable prices in an active market or recent market transactions on arm’s-length terms or were estimated using other valuation techniques * for each revalued class of property, lant, and equipment, the carrying amount that would have been recognized had the assets been carried under the cost model * the revaluation surplus, indicating the change for the period and any restrictions on the distribution of the balance to shareholders (Friedrich, 2009) Although US GAAP does not have a comprehensive standard that reports long-lived asset, its definition of prope rty, plant and equipment is very similar to IAS 16. For example, with impairments of long-lived assets to be held and used, a description of the events and circumstances of the impairment should be stated. The amount of the impairment loss should as well be stated, along with it recorded in the income statement. Another aspect that should be considered is the methods used to determine the fair value. This information must be disclosed as well. Items of property, plant and equipment cannot be revaluated because it is not permitted under U. S GAAP. Another important difference that can be discussed deals with investment property. Under U. S GAAP, investment property is considered and treated to be held for use or held for sale. This is not the case with IFRS. In fact, IFRS discusses investment property under IAS 40 instead of IAS 16 that was previously discussed. Determining the similarities and differences amongst IFRS and U. S GAAP provides a better and clearer distinguishing of presentation and disclosure rules with the subject of property, plant, and equipment. We found that there were many similarities in the presentation and disclosures of property, plant, and equipment but one difference that really stood out. Although IFRS and U. S GAAP both record their property, plant, and equipment cost as historical, IFRS allows revaluation of assets. Up to this point, we have assumed that companies use the historical cost principle to value long-lived tangible assets or fixed assets after acquisition. However, under IFRS companies have a choice: they may value these assets at cost or at fair value. * In testing for impairments of plant assets, GAAP uses a two-step model to test for impairments. As long as future undiscounted cash flows exceed the carrying amount of the asset, no impairment is recorded. The IFRS impairment test is stricter. However, unlike GAAP, reversals of impairment losses are permitted. The accounting for impairments is different under GAAP and IFRS. A fixed tangible asset is impaired when a company is not able to recover the asset’s carrying amount either through using it or by selling it. To determine whether an asset is impaired, on an annual basis, companies review the asset for indicators of impairments—that is, a decline in the asset’s cash-generating ability through use or sale. This review should consider internal sources (e. g. , adverse changes in performance) and external sources (e. g. , adverse changes in the business or regulatory environment) of information. If impairment indicators are present, then an impairment test must be conducted. This test compares the asset’s recoverable amount with its carrying amount. If the carrying amount is higher than the recoverable amount, the difference is an impairment loss. If the recoverable amount is greater than the carrying amount, no impairment is recorded. Recoverable amount is defined as the higher of fair value less costs to sell or value-in-use. Fair value less costs to sell means what the asset could be sold for after deducting costs of disposal. Value-in-use is the present value of cash flows expected from the future use and eventual sale of the asset at the end of its useful life. Future Developments: As a result of these divergences between U. S GAAP and IFRS with respect to accounting for property, plant and equipment; the two boards have in plan to examine the measurement bases used in accounting for fixed assets with respect to revaluations specifically. As part the conceptual framework project, fair value measurement might be recommended in the converged conceptual framework for property, plant and equipment. However, it will be a very difficult change to adopt due to conservatism proponents who still prefer the historical cost model. Works Cited: Ankarath, Nandakumar, et al. Understanding IFRS Fundamentals: International Financial Reporting Standards. Hoboken, New Jersey. John Wiley amp; Sons Inc. , 2010. Print. Bragg, Steven M. Wiley GAAP 2011: Interpretation and Application of Generally Accepted Accounting Principles. Hoboken, New Jersey. John Wiley amp; Sons Inc. , 2010. Print. FASB: Property, Plant and Equipment. FASB: Financial Accounting Standards Board. N. p. , n. d. Web. 26 Nov. 2012. lt;http://www. fasb. org/jsp/FASB/Page/SectionPagegt;. Kieso, Daniel E. , Jerry J. Weygandt, and Terry D. Warfield. Wiley: Intermediate Accounting, 14th Edition. Wiley: Intermediate Accounting, 14th Edition. N. p. , n. d. Web. 26 Nov. 2012. lt;http://www. wiley. com/WileyCDA/WileyTitle/productCd-EHEP001739. htmlgt;. Summary of IAS 16 Property, Plant and Equipment. IFRS. N. p. , n. d. Web. 26 Nov. 2012. lt;http://www. ifrs. com/blog/post/summary-of-ias-16-property-plant-and-equipmentgt;. Http://mcgladrey. com/pdf/us-gaap-vs-ifrs-property-plant-equiment. pdf. U. S GAAP vs IFRS: Property, Plant and Equipment. McGladrey, n. d. Web. 26 Nov. 2012.

Language Functions in English

Language Functions in English A language function explains why someone says something. For example, if you are teaching a class youll have to give instructions. Giving Instructions is the language function. Language functions then require certain  grammar. To use our example, giving instructions requires the use of the imperative. Open your books.Insert the DVD into the drive.Purchase your ticket online. There is a wide range of language functions. Here are examples of guessing, expressing wishes and persuading- all language functions.   Guessing He might be busy today.She must be at work if shes not at home.Maybe shes got a new boyfriend! Expressing Wishes I wish I had five million dollars!If I could choose, Id buy the blue car.  Id like to have a steak, please.   Persuading I think youll find our product is the best you can buy.Come on, lets go have some fun! What can it hurt?If you give me a moment, I can explain why we should do this deal. Thinking about which language function youd like to use helps you learn phrases used to accomplish these tasks. For example, if you want to make a suggestion youll use these phrases: How about ...Lets ...Why dont we ...Id suggest we ... Using Language Function in Your Learning Its important to learn correct grammar such as the tenses, and when to use relative clauses. However, if you think about it, its probably just as important to know why you want to say something. What is the purpose? What is the language function? Teaching Language Functions Teaching language functions can lead to confusion at times as its common to use a wide range of grammatical structures for each function. For example, when expressing wishes students might use the present simple (I want ...), conditional sentences (If I had the money, I could ...), the verb wish for past and present wishes (I wish I had a new car / I wish she had come to the party), and so on. When teaching, its best to mix language functions with grammar. Provide functional language as students are ready to learn. In the example above, using I wish I could go to the party will likely confuse lower level students. On the other hand, Id like to go to the party or I want to go to the party is appropriate for lower level classes.   Generally speaking, the more advanced a student becomes the more they will be able to explore language and improve increasingly subtle functional demands. Heres a short overview of some of the most important language functions by level. Students should be able to accomplish each task by the end of the course. Naturally, students should also master language functions of lower levels: Beginning Level Expressing likesDescribing people, places, and thingsAsking yes / no and information questionsComparing people, places, and thingsOrdering food in a restaurantExpressing abilities Intermediate Level Making predictionsComparing and contrasting people, places, and thingsDescribing spatial and time relationsRelating past eventsExpressing opinionsShowing preferences  Making suggestionsAsking for and giving adviceDisagreeing  Asking for a favor Advanced Level Persuading someoneGeneralizing about topicsInterpreting dataHypothesizing and speculatingSummarizing  Sequencing a presentation or speech Grammar-Based Learning or Function-Based Learning? Some courses try to focus on only functional based English. However, I find these courses fall short as the focus is often on NOT speaking about grammar. Unfortunately, students need explanations. Focusing only on function can turn into an exercise of just memorizing specific phrases for specific situations. Mixing the two gradually as students improve their understanding of the underlying grammar will help students put appropriate phrases into use to obtain their functional goals.

Strategy Research Paper Example | Topics and Well Written Essays - 250 words

Strategy - Research Paper Example Without BLS, the company that knows what business to focus on will not be able to maximize productivity and profits. Without the FLS, different divisions will not function effectively in line with business strategies. Any global or national environment with similar competitive sporting goods should be studied in connection with expansion plan to discover who will be the competitors, how they compete in terms of pricing, quality, and availability, because competitors might have their respective advantages which will be a threat to the entry of sporting goods. Opportunities will be available if a competitive advantage or evident differentiation can be established. Existing missions and goals should be the premise of developing strategies. Cost leadership involves all the strategies and activities that allow for the company to arrive at desired â€Å"features that are acceptable to the consumers at the lowest cost relative to that of competitors†, according to Hitt, Michael A.; Ireland, Duane R.; and Hoskisson, Robert E. (2010, p.108) . It is crucial to have this because people will compare the products, and will want to get the best value for their money’s worth. If features are the same for different options, the price will make the difference. 2You are a CEO of a regional sporting goods company and are contemplating expanding into the global market; however, you are unsure of what your strategy for globalization should be. You need to meet with your management team to develop a strategy. Explain how the following Factors apply into your strategy decision: External Environment (National, Global); Opportunities and Threats; Mission and Goals; and Leadership and Culture? Explain why the â€Å"Cost Leadership â€Å"strategy would apply

Finance Course Work Essay Example | Topics and Well Written Essays - 1000 words - 1

Finance Course Work - Essay Example A company needs capital to run the normal proceedings of a business and in order to gain such capital; organisations tend to approach financial markets. Such financial markets not only help in generating the finance to run an organisation but it also helps in many other ways. A financial market is a place whereby sellers and buyers meet each other in order to trade financial securities and commodities. The transactions within these markets are usually carried out in such a way that they reflect the supply and demand (Kapoor et al, 2012). Companies which usually trade within the markets tend to keep a record of their business and such record is usually kept within financial statements which are prepared by the financial managers. There are various financial statements but the most important one include: the statement of comprehensive income and expenditure (SOCIE), the statement of financial position (SFP), the statement of changes in equity and the cash flow statement (Kapoor et al, 2012). SOCIE gives an insight to the profit/loss which an entity may have obtained as a result of their operations within a given period of time. The SFP gives the year end assets position of an entity while the Cash flow statement provides a summary of the cash that has rotated in order to carry out the business operations (Madura, 2011). Companies tend to plan their operations in advance and also keep a record of that in order to keep a budgeted record, any deviation within the budgeted and the actual result is scrutinised if it is huge and the aberration is properly addressed to avoid the discrepancy in the future (Kapoor et al, 2012). The concept of time value of money is simple: the value of money in recent or in current terms is going to be higher than in future terms. This can be further explained that money if earned now would have more value than if the same amount

Management of Security Essay Example for Free

Management of Security Essay Sever security is instrumental in enhancing authentication, authorization, and control of access to the network from a localized point. Therefore, implementation and management of security on windows server 2003 administration is important first because it enables easy and coherent configuring and maintenance of security setting and software installation on computer network systems. The quest for implementing security on windows server 2003 administration is failure by Microsoft to provide a single mechanism for security related settings configuration (Bragg, Hunt, 2005). The security components are attached to the server externally, a factor which makes remote monitoring and control of connections to the network by the server impossible without them. In addition, management of security in windows server 2003 is important in protecting the privacy and confidence of network users. Internet access has been on the rise in the community, an element that threatens confidentiality of computer information. Such are due to hacking and infecting of personal computers by malicious computer programs. On the other hand, security management in windows server 2003 administration serves the purpose of mitigating unauthorized access into the network. Moreover, this can also function to identify and prevent malicious computer programs from compromises services of the network users. Another important aspect of implementing and managing security in windows server 2003 is that it promotes monitoring and control of the network even when the server is offline. Employing security settings like Baseboard Management Controller hardware for example enables independent communication with remote computer. In return, this effectively enhances the process of remotely identifying errors and initiating response by the network administrator (McCann, Eckert, Schitka, 2005). Therefore, security implementation and management in windows server 2003 administration serves to reliability and efficiency service provision. References Bragg, R. , Hunt, C. (2005). Windows Server 2003 Network Administration. Sebastopol, CA: O’Reilly. McCann, B. , Eckert, J. , Schitka, J. (2005). Managing a Microsoft Windows server 2003 Network, Enhanced. Mason, OH: Cengage Learning.

Speech: Universal Health Care :: Papers Argumentative Medicine Essays

Speech: Universal Health Care Topic: Universal Health Care General Purpose: To persuade. Specific Purpose: To Persuade my audience that the United States needs to adopt universal health care. Central Idea: Americans current health care system is faulty and needs to be changed to Universal Health Care for all citizens. INTRODUCTION I. Have you ever went without health insurance between jobs, or while working part time or because you just couldn?t afford it? No having health insurance is a big risk in a time where medical costs are sky high, Prescription drug prices are outrageous and when your paying your family doctor $50 for a office visit. Fifty dollars represents a full 8 hours of work for many Americans. A. Health care reform is needed in America. Service for pay medical treatment leaves uninsured citizens going without health care, or seriously in debt. B. Today I want to tell you why adopting universal health care is the answer to the question of health care reform. II. I have had many negative encounters with the health care system. A. At one time because of being a part time student and employee, I could not get insurance though my parents, my work, or my school. I was not eligible for Medicaid, and found the cost of private insurance was completely out of my budget. 1. This was a bad mistake. I was born with neutropenia, a blood disease that affects the immune system I get sick very easily, and my body has a hard time fighting off any infections and trying to stay healthy without insurance soon became impossible B. Suddenly I found myself in serious debt from missing work, doctor?s office visits, and paying outrageous prescription costs. I am still paying off medical bills for lab work, and other tests and emergency room visits. III. Today I want to discuss the reasons why our current health care system is ineffective, the benefits of changing to universal health care, and we will also look at Hawaii?

Lord of the Flies: Symbols And Conflicts Essay

In Lord of the Flies, written by William Golding, deals a lot with characterization. Each character symbolizes certain personality traits. Ralph, Jack and Simon and their symbolic importance are characters with the most symbolism for their characters. Ralph, the impression of being a tall boy with fair hair, was chosen as the chief by the other boys, which shows the natural civilized instinct within humans. He possesses the leadership qualities of man, but does not have the initiative that is needed when being a leader. For example, when Jack says â€Å"You shut up,† Ralph does nothing to stop Jack from insulting Piggy or from hitting him. Ralph does not have the initiative to protect his friend or punish Jack for his misbehaviour. Ralph was deeply troubled by the murder of Simon, which symbolized the humanity left in them. When Jack and his hunters were supposed to be watching the fire, they instead went off to hunt. They did successfully kill a pig, however this sparked conflict between Jack and Ralph, as there was a ship and Jack may have destroyed their rescue. This kill not only symbolized the start of their savagery, but it also caused the first conflict. The next hunt was not just the kill of a pig, but a mother pig. This is much worse, as when you kill the mother pig you also kill the piglets. Those piglets have no one to rely on and will die shortly. Unfortunately the savagery did not stop there. Although it could be argued that it was an accident, Simon was murdered by the hunters. The real symbolism of savagery in this situation is the complete lack of remorse felt by Jack and his group. Simon is one of the younger boys and he stands out from the rest. Simon seems calmer than the other boys and doesn’t jump to conclusions. He represents the â€Å"Christ figure† in Lord of the Flies. Simon represents the recognition of good and evil. Simon is the one who finds out that the beast does not exist, and is the one who finds out that evil lives among all the boys. Once Simon died, all evidence of good left with him. The only thing left on the island is the boys’ evil instincts. It is quite amazing how Golding added many different symbols to describe the story that may not be noticed. Golding achieves his goal of expressing the story in an in-depth manner with the use of symbols.