Subjective exam intermediate accounting Essay Example for Free

Subjective exam intermediate accounting Essay 1. The conceptual framework deals with five main points that will be explained in this question. It first outlines the users of financial statements and their information needs, which are illustrated below: †¢ Investors – the providers of equity capital to the organization are mainly interested in the going concern of the company, together with the return attained from such investment. Indeed their investment decision will basically be, buying, selling or holding their equity investment. They will thus examine the financial performance of the company to analyze its ability to pay dividends (International Accounting Standards 2000, p 44). The financial position and financial stability will also be assessed in order to evaluate the ability of the company to continue operating in the future. †¢ Employees, lenders, suppliers, customers and public – employees who seek job security and lenders/suppliers who also demand secure investments are interested in the ability of the company to continue operating. They will therefore examine the financial position and stability. Customers, especially those who purchase goods that need after sales service are also interested in the going concern of the firm. The public is also interested in the going concern of large companies due to their economic event (International Accounting Standards 2000, p 44-45). †¢ Government and their agencies – the government is mainly concerned with the allocation of the firm’s resources. He will therefore demand information pertaining to the activities of the company. Profitability is another important matter that shows the corporation tax liability of the company (International Accounting Standards 2000, p 45). The objective of the financial statements is then outlined in the reporting framework. This aim basically entails to provide financial information concerning the financial performance, position and stability of the firm to interested users in order to aid them in their economic decisions. Due to the separation that normally exists between the stakeholders of the company and the persons managing the company, the feature of stewardship arose. Indeed the annual financial statements act as a financial report that portrays the stewardship of management in managing the resources entrusted to them (International Accounting Standards 2000, p 46). Due to the importance of the economic decisions taken by users, it is imperative that the financial statements are build on attributes that enable such information to be useful. In this respect, the qualitative characteristics of understandability, relevance, materiality, comparability and reliability were developed. There are also underlying concepts like accrual basis, going concern, prudence, objectivity and substance over form that financial statements ought to abide with. The accruals basis, for instance states that revenue incurred in a particular period should be matched with expenditure earned in that period (International Accounting Standards 2000, p 49, 52-53). The framework also outlines the need that due to the importance of financial statements, it is essential that the financial statements show a true and fair view of the state of affairs of the company. Laws on companies further builds on that necessitating the need of an audit. The elements of the financial statements are also explained in the framework. This section of the framework commences with the factors that build up the Balance Sheet of the company and portray the financial position and financial stability of the company. They recognize and explain the three main elements of the Balance Sheet, which are assets, liabilities and equities. An asset is defined as the resources owned by the company, which provide future economic benefits to the firm. The framework notices that many assets shown in such statement have a physical form, such as land, buildings and inventory. However, the physical form is not an essential element for the recognition of an asset. Indeed there are assets that do not hold a physical form but are also recorded as intangible assets, like purchased goodwill. The right of ownership is also not a critical element for recognition of an asset (International Accounting Standards 2000, p 56-58). This is in line with the substance over form principle noted in the previous section of the framework. For example, a finance lease is recognized as an asset in the Balance Sheet of the lessee even though the title may not be transferred. This is due to the fact that all significant risks and rewards resulting from ownership of the asset are transferred (IAS 17 (1997), p 381). Liabilities comprise present obligations that will result in outflow of economic benefits of the company in the future. A difference is outlined between the present obligations and future commitments that are inbound to exceed one year. The settlement of a present obligation is normally in the form of a payment of cash, transfer of assets, a service provided. However, the framework recognizes the fact there are other forms that encompass an outflow of economic benefits for a present obligation (International Accounting Standards 2000, p 59-60). Equity is explained as the resources entrusted by the shareholders together with the profits generated by the company and other reserves that may arise from transfer, business operations or other activities. This portrays the capital maintenance adjustment that will be further described in the proceeding part. The generation of reserves may arise either to enhance the value of the company as decided by the directors or to comply with relevant legislations (International Accounting Standards 2000, p 60-61).

Depiction and Development of the Knight Hero in Wolfram von Eschenbach’

Introduction Wolfram von Eschenbach’s epic poem Parzival stands as one of the richest and most profound literary works to have survived from the middle ages. Lost in obscurity for centuries until rediscovered and republished by Karl Lachmann in 1833, the poem enjoyed at least as great a popularity when it was first composed as it does among today’s readers: Some eighty manuscripts have been preserved, in whole or in part, from Wolfram’s era (Poag 40). Among the more intriguing aspects of the work is Wolfram’s handling of the depiction and development of two of the story’s primary characters, the knights Gahmuret and Parzival, father and son. Central to the action of the text from its inception, yet never sharing a scene, these men function as the poem’s heroes—larger-than-life figures of extraordinary strength, skill and courage whose remarkable achievements and bravery carry the momentum of the story. These men represent the classic knightly warriors of old who (at least ideally) dedicated their energies and passions above all else to the noble pursuit of fame, honor and valor. Indeed, in the course of discussing heroic development in Parzival, one must also note the main characters’ chivalric development, as their natural proclivity and tendencies as knights are clearly reflected and reinforced in their heroic manner and mien. In the course of this investigation I wish to analyze the ways in which Wolfram depicts these knighly heroes and their development. In this way I shall attempt to achieve a better understanding of how Wolfram—and, by extension, the men of his time—themselves understood the themes and events he describes. I shall also include the critical perspectives of scholars whose have previously c... ...its, though not always attained thorough strict maintenance of precepts such as Campbell’s, is— and perhaps for that very reason—the stuff of great literature. Works Cited Campbell, Joseph. Myths to Live By. New York: Viking, 1972. Cousineau, Phil, Ed. The Hero’s Journey: The World of Joseph Campbell. San Francisco: Harper & Row, 1990. Eschenbach, Wolfram von. Parzival. English Trans., Ed. Andrà © Lefevere. New York: Continuum, 1991. —-. Parzival. German Trans. Wolfgang Mohr. Gà ¶ppingen: Alfred Kà ¼mmerle, 1977. Hasty, Will. †Introduction.† A Companion to Wolfram’s Parzival. Columbia: Camden House, 1999. Poag, James F. Wolfram von Eschenbach. New York: Twayne, 1972. Sacker, Hugh. An Introduction to Wolfram’s ‘Parzival.’ Cambridge: Cambridge U P, 1963 Weigand, Hermann. Wolfram’s Parzival: Five Essays with an Introduction. Ithaca: Cornell U P, 1969.

A Case Analysis on Sealed Air Corporation

The context in which the decision is to be made is that Sealed Air is facing competition from unexpected quarters. The company Sealed Air had achieved market leadership by differentiating its AirCap cushioning materials by using the â€Å"barrier-coating† making AirCap cushioning material more versatile and reliable.The company had depended on this crucial differentiating factor that had been communicated to its customers in different ways. In addition, its salespersons had also been trained to project the superiority of coated bubble cushioning. Sealed Air technology is patented and so it enjoyed leadership in the cushioning market. What is more important is that the brand AirCap was positioned as high quality, premium-cushioning material.Currently, there is an increase in competition from two quarters. First, there are several small manufacturers that have invented processes similar to that of Sealed Air and have produced cheap substitutes. Second, there is an increase in un coated bubble cushioning manufacturing and marketing in the USA especially by a new competitor that is GAFCEL.The issue to be decided is whether Sealed Air should commence manufacturing uncoated bubble operations to counter this new competition or should Sealed Air continue with its strategy of emphasizing the benefits of coated bubble technology. There are pressures from several quarters on Hauser to make the decision.The GAFCEL sales are increasing very quickly, the distributors of AirCap have also taken up the distribution of GAFCEL and the distributors are actively asking for uncoated bubble cushioning. On the other hand Hauser is torn because Sealed Air has been positioned as a coated bubble company, it has communicated the benefits of coated bubble technology over the years and its sales force is also oriented towards selling coated bubble cushioning.There are several requirements and limitations. The requirement for Sealed Air is to stem the falling market share at home and a broad. For example, in England, Sealed Air needs to counter the challenges thrown to it by the Japanese firm that is selling uncoated bubble products at 50% less price than AirCap cushioning. Similarly, in France the market share of AirCap has fallen from 50% to 30% because of increased competition from uncoated products.Finally, In Germany, AirCap was losing its share at the rate of 20% to 30% per year. Even though the gross sales of AirCap in the US market are increasing, the rate of increase is much slower than what it was in early ‘70s. For instance the increase in sales from 1973 to 1974 was 30%, the increase in sales from 1979 to 1980 was only 19% (Dolan p4).   The basic requirement for Sealed Air is to counter the fast eroding market for its coated AirCap.It must be able to regain its market share to at least 1978 levels. Sealed Air has other requirements; it must be able to protect its current positioning in the market, it should be able to protect its coated bubble sales and must not dilute the brand equity of AirCap. Further, Sealed Air should endeavor to follow the twin objectives of providing market leadership through technological leadership.Till now Sealed Air has technological leadership as well as market leadership because AirCap had been selling coated bubble cushioning. Sealed Air also needs to ensure that its distributors continue to sell its coated bubble products as they have done in the past.  Ã‚   However, Hauser has some limitations. These are that the company does not have any means of differentiating if it goes in for uncoated bubble products. It has to compete on price with GAFCEL. There is no technological leadership for Sealed Air if it goes in for uncoated bubble technology.Moreover, the sales force of Sealed Air is oriented towards selling strongly differentiated high quality premium AirCap products. This sales force is not suitable for uncoated products.The sales of AirCap products are limited by the demand for high qu ality versatile packing material. Similarly, the distributors and their selling methods are suited more for uncoated bubble cushioning rather than AirCap products that needed more demonstration and selling time.

An Analysis Of Ken Kesey s One Flew Over The Cuckoo s...

While One Flew Over the Cuckoo’s Nest is only a little over fifty years old, it feels like an even more dated story then some things written hundreds of years ago. This is because it is set in a field, psychology, that is constantly evolving and makes drastic progress in short amounts of time. The sexist and racist undertones coupled with the outdated view of psychology dates the book and undercuts the theme of the story. Psychology is the study of the human mind and behavior. It is only roughly two hundred years old, but there have been tremendous strides since the days of Sigmund Freud. Ken Kesey’s novel takes place in a mental hospital in 1962. His goal with this story was to express his thoughts on the world around him and tell†¦show more content†¦A person is put in there so they are not a danger to themselves or anyone else. The quiet room is not some big, bad punishment either. Sometimes people like to be in there when they need to calm down and do not b e disturbed. Most likely, McMurphy would have been banned to his room for a few days or possibly as long as his visit, depending on the severity of his bad deed. One of the more notable differences between the ward in this book and modern day wards would be the rooms. In the book, all the men sleep in one big room. There is no privacy and they have to see each other all day, every day. This simply would not happen now. People have individual rooms because that gives people a sense of security. Say if someone felt anxious and they needed to be away from everyone else, they would not be able to in this book and that could be detrimental to their mental health. The biggest difference between reality and this book, is the group therapy sessions. The way that Nurse Ratched runs the sessions is very antagonizing. She chooses one person to attack and for the hour that all the men are gathered in that room she has them all tear apart that person. She finds their one weakness or the reason t hey are in the hospital and targets them. Ordinarily, these group therapy sessions, which happen three times a day not once, would be on a volunteer basis. If someone does not want to talk, they would not have too. The only exception wouldShow MoreRelatedAnalysis Of One Flew Over The Cuckoo s Nest By Ken Kesey1226 Words   |  5 Pagescontent more interesting. The novel, One Flew Over the Cuckoo’s Nest, written by, Ken Kesey, contains several literary theories that made the classic story successful. The storyline was interesting enough for it to be turned into a movie and an altered version Broadway play. At one point Time Magazine included this novel into its top one hundred novels list. What made this book so fascinating to read and successful was the use of several literacy theories. One of the main literacy theories presentRead MoreAnalysis Of One Flew Over The Cuckoo s Nest By Ken Kesey1622 Words   |  7 Pagesor someone. Leadership on the other hand, may be a tool us ed to overcome authority which is depicted when McMurphy is admitted into the ward and effectively changes the patient’s lives for the better. Throughout the novel, One Flew over the Cuckoo’s Nest, written by Ken Kesey, McMurphy’s leadership dominates Nurse Ratched’s authority due to his success in transforming the patients into better people from the second of his arrival and giving them the option to live a better life. McMurphy, a gamblerRead MoreAnalysis Of One Flew Over The Cuckoo s Nest By Ken Kesey1498 Words   |  6 Pagesdevelopment of patients of the psychological institution of the book One Flew Over The Cuckoo’s Nest by Ken Kesey. The patients in the psychic ward each demonstrates different characteristics that corresponded to fixation from each stage of development through daily activity and the way that they present themselves. It also illustrates societal stereotype to these fixation and lead to unhealthy psychological environment to improve patient s’ internal health. The five stages of psychosexual developmentRead MoreAnalysis Of Ken Kesey s One Flew Over The Cuckoo s Nest2637 Words   |  11 Pages The Author and His/Her Times: Ken Kesey was born on September 17, 1935 and died on November 10, 2011 at age 66. Kesey was once arrested for possession of marijuana and a â€Å"faked suicide† and was put into prison for five years. He also had a lot of experimentation with psychoactive drugs, which could spark his interest in the human mind, which has a lot of influence on the novel, One Flew Over the Cuckoo’s Nest. The novel was put on The Times list of To honor Kesey after his death, there is a filmRead MoreAnalysis Of Ken Kesey s One Flew Over The Cuckoo s Nest2592 Words   |  11 Pagestreatment patients in a mental hospital received and not many people helped with that. Today, people are becoming more outspoken about mental illness, why? In Ken Kesey’s One flew over the Cuckoo’s Nest, before McMurphy enters the hospital, it was all in perfect order, everyone would talk about their experience and what went through their heads. At one time, Randle McMurphy, a new patient at the hospital speaks about his own insanity with pride, â€Å"â€Å"Don’t overlook the possibility that this man might be feigningRead MoreAnalysis Of One Flew Over The Cuckoo s Nest By Ken Kesey1195 Words   |  5 Pageseveryday life, there is always an unequal distribution of power. More often than not, someone has more power than another. For example, nurses and patients in a mental institution; the nurses have authority over the patients. In the classic novel, One Flew Over the Cuckoo’s Nest, by Ken Kesey, Nurse Ratched makes sure that all of the patients are weaker than she is. Since she is clearly the head of the ward, Nurse Ratched is able to control the patients and their actions. However, when an independentRea d MoreOne Flew Over The Cuckoos Nest Speech Act Theory Essay1281 Words   |  6 PagesKen Kesey forms the intricate relationships among the characters in the novel One Flew Over the Cuckoo’s Nest by the unique use of perspective and speech. Throughout the novel, Kesey depicts this connection between the public world and the seemingly closed off society inside the mental institution. This creates two separate spheres separated by a few walls and doors. Kesey goes on to form a unique perspective in the novel, told by a paranoid schizophrenic, with the narrator’s caricature-likeRead MoreKen Kesey s One Flew Over The Cuckoo s Nest1629 Words   |  7 Pages1962, Ken Kesey’s One Flew Over The Cuckoo’s Nest is a timeless classic. This novel has been subject to analysis through many different literary lenses: feminist, Marxist, and of course, psychoanalytic. One Flew Over The Cuckoo’s Nest provides a plethora of evidence when it comes to using the ps ychoanalytic lens. The lens in question deals with the teaching of Sigmund Freud. When reading this novel, the audience sees quite clearly that the world of psychology plays an impactful role in One Flew Over