IFRS(or IAS) Essay Example | Topics and Well Written Essays - 1000 words

IFRS(or IAS) - Essay Example Following a series of recent discussion after the collapse of some large companies such as the Enron a recent discussions of the United States (US) financial reporting include implicit or explicit recommendations that the U.S. abandon the current allegedly "rules-based" system in favor of a "principles-based" system, with the implication that some or all of the current difficulties facing U.S. financial reporting would be alleviated or even eliminated by such a shift (Chand 2005). In addition, Section 108 of the Sarbanes-Oxley Act of 2002 instructs the Securities and Exchange Commission (SEC) to conduct a study on the adoption of a principles-based accounting system (Chand 2005). International accounting standards (IAS 36) requires companies to test assets for impairment. Basically, the standard requires that tangible assets should be tested for impairment when there is an indication that an asset might be impaired. (Epstein and Jermacowicz, 2007). IAS 36 Impairment of Assets was issued in March 2004. It is applied to goodwill and intangible assets acquired in business combinations after 31 March 2004, and to all other assets for annual periods beginning on or after 31 March 2004. IAS 36 prescribes the procedures that an entity applies to ensure that its assets are carried at no more than their recoverable amount. According to Epstein and Jermacowicz, (2007), IAS 36 applies in accounting for impairment of all assets other than : - Inventories (IAS 2 Inventories); - Assets arising from construction contracts (IAS 11 Construction Contracts); - Deferred tax assets (IAS 12 Income Taxes); - Assets arising from employee benefits (IAS 19 Employee Benefits); - Financial assets within the scope of IAS 39 Financial Instruments: Recognition and Measurement; - Investment property measured at fair value (IAS 40 Investment Property); - Biological assets related to agricultural activity that are measured at fair value less estimated point-of-sale costs (IAS 41 Agriculture); - Deferred acquisition costs and intangible assets, arising from insurance contracts within the scope of IFRS 4 Insurance Contracts; and - Non-current assets (or disposal groups) classified as held for sale in accordance Epstein and Jermacowicz, (2007) further states that, the recoverable amount of an asset is measured whenever there is an indication that the asset may be impaired. At each reporting date, an entity assesses whether there is any indication that an asset may be impaired. However, intangible assets having an indefinite useful life must be tested annually for impairment. The impairment test is required to be applied to a cash generating unit, that is, the smallest group of assets for which the entity has identifiable cash flows. Here the impairment test carried out according to Cairns (2005), If the recoverable amount of an asset is less than the asset's carrying amount the asset is impaired the asset's carrying amount should be reduced to recoverable amount debit expense, credit assetIn other words, the carrying amount of an asset or group of assets in the cash generating unit is compared with the fair value or value in use ( calculated as the present value of the cash flows expected to be generated from using the asset). The higher of value in use and fair value is taken and compared with the carrying amount and an impairment loss is recognized if the carrying amou

The Chosen - Historic Events Essay Example for Free

The Chosen Historic Events Essay Chaim Potok uses historic events to help shape the plot of The Chosen and create conflicts and challenges for the characters to overcome. Specifically, the Holocaust and the Zionist movement create a feeling of aversion between the Malters and the Saunders by setting the Malters reform Jewish, Zionist beliefs against those of the Hasidic, anti-Zionist Saunders. In the end of The Chosen, after the strength of Reuven and Dannys friendship has been thoroughly tested, their bond emerges just as healthy as it was prior to their estrangement. The characters reactions to these events shape the entire second half of The Chosen. When the news of the intense Nazi persecution of the Jews reaches New York, the Malters and the Saunders are intensely disturbed. While David Malter is reading an account of the terror of the Holocaust, Reuven sees him break down and weep like a child(180). Reb Saunders shows his grief when he sighs, How the world makes us suffer(181). Danny and Reuven are also tense and distraught(181) after an original feeling of shock. Although both families initial reactions are identical, their solutions to the persecution of the Hebrews are radically different. Differences in ideology between the two families of The Chosen cause conflict between the two patriarchs and their sons. The Hasidic viewpoint, which is shared by Danny and Reb Saunders, is that everything that happens on Earth is the result of Gods will. Therefore, the Holocaust is what God wanted. Reb Saunders believes that there is nothing they can do but accept the will of God(181) and that no human intervention is necessary or even tolerable. Conversely, David and Reuven Malter believe that the Jewish people cannot wait for God(182), and that they must replace the treasures [the Jewish people] have lost(182). David Malter is not as sure that the future rests solely in Gods hands as Reb Saunders is and says, If we do not rebuild Jewry in America, we will die as a people(182). The Malters share a more widely accepted view that they live in a world that can be changed for better or for worse by peoples thoughts and actions. Therefore, the Malters believe that people must either speak and act against injustices or expect the worst for the world and its populace. The ideas of David, Reuven and other reform Jews sparked new interest in the notion of a Hebrew state in Palestine. Zionism was an idea with a long history, but it starts to involve the characters of The Chosen and picks up intensity after the Holocaust. Zionists, such as the Malters, believe that a Hebrew state in their ancient promised land, now Palestine, should be reestablished as a haven for the worlds Jews to live without persecution. Reb Saunders and other anti-Zionists believe that reestablishing Israel before the Messiah is sent from God would be against His will. Reuvens father becomes very active in the Zionist movement and works endlessly to help the Zionist cause. David Malter becomes physically sick from working so hard and has his third cold in five months(201). After David gives a speech at the Madison Square Garden in favor of Zionism, Reb puts a ban on any interaction between the Saunders and Malters. Reuven and Dannys friendship is seriously jeopardized when Reb Saunders orders Danny not to see [Reuven], talk to [him], listen to [him], or be found within four feet of [him](217). Reuven understandably feels a violent rage at Reb Saunders blindness (218) and that his blindness on the issue of Zionism had finally shattered [Reuven and Dannys] friendship(218). Mr. Malter, who is more understanding of others views, tries to vindicate Reb Saunders on a small level by telling Reuven, The fanaticism of men like Reb Saunders kept us alive for two thousand years of exile(219). Reb Saunderss fanaticism is demonstrated when even after the United Nations decides to make Israel a state, his anti-Zionist league denounced the United Nations vote, ordered Jews to ignore it, called the state a desecration of the name of God, and announced that the league planned to fight its recognition by the government of the United States (227). Meanwhile, Danny and Reuven are still not allowed to speak to each other. When Reuven sees Danny in the hallway, Dannys eyes spoke the words that his lips couldnt(228). After an ex-student of a local yeshiva is killed in the bloodshed taking place in Israel, Reb Saunders and his anti-Zionist followers stop their protest. Later, at Dannys sisters wedding, Reb Saunders finally breaks down the barrier between the Saunders and the Malters he had so vigorously constructed by inviting Reuven over for Shabbat. Eventually, Reuven and Dannys friendship becomes just as strong as before their separation, exhibiting that their bond could outlast the reign of a harsh dictatorial father like Reb Saunders. Danny Saunders is visibly delighted by the reintroduction of Reuven and his friendship when he smiled hesitantly, his blue eyes bright and shining (244). Danny and Reuvens triumph over Reb Saunderss severe exile of the Malters can be interpreted as a metaphor for freedom prevailing. The growth of characters and the events in the second half of The Chosen are determined by their reactions to the Holocaust and to the Zionist movement. After having been separated because of differences in opinion, Reuven and Danny realize that their friendship is stronger than any political or religious differences they may have. David Malter and Reb Saunders, although very different, end up accomplishing the same task in raising fine young men who grow to cherish their own independent system of beliefs.

One Language In The World

One Language In The World As countries communicating more and more today and without any doubt to be a larger extent in the future, people often predicate that if the world developed to be united enough and then all people will speak the same language for daily communication. Is it realistic? How long will it take to fulfill such a dream? English, as the acknowledged official language for international communication, has been accepted by more and more people over the world since it can bring benefit for almost all who can speak it. Many countries also make policies to train the young people to become good English speakers. Can English become the only one language in the future and other languages will be eradicated? This essay will give analysis from some perspectives. The essay will start with discussing about what will happen if the prediction of eradication of variation of existing languages came true. In this part, it will also introduce the history of Esperanto which is acknowledged as world language by most people. Following this, it will introduce what are languages related to mainly in five perspectives which are history, culture, social status, profession and worldview. Finally, the essay will focus on whether English has the possibility to become the only one language in the future. It would be Perfect if Variation of Existing Languages could be Eradicated It is true that the world will be operated more harmoniously if all people speak the same language. Generally speaking, as the most important tools for communication among people, language is also considered as the first factor differing human from animals (Lonely Publications, 2007). It is developed as society occurred and developed. People who often speak the same dialect in the same nation can live together with less confliction. Due to the good communication, a nation can bind together as time goes. Finally, the nation become an integrate body, by which the human race developed more and more rapidly and leave the animals behind far away. Therefore, it can be concluded that language homogeneity promote the group developing more. However, language homogeneity does not exist among the whole word due to the long time of separation of people from different continents. As some nations have the ability to travel across seas and reach other continents, communication become source of ther e divisions. Wars then become the consequences of this misunderstanding of languages. To some extent, it is true that language is the divisive force for different groups and areas (Crystal, 2001). In fact, some elites of the old years have given serious thought about whether it was possible for people from different countries and nations can solve the conflicts through promoting implementation of the same language across the world. Hundreds of years before, they started to dream that there was a kind of language which can be called world language could be produced to make the world get united in short time. Actually, in the human history, world language did have been created. Esperanto, a language invented by an eye doctor named Lazaro Ludoviko has been acknowledged as the world language by people. Although after creation of the language more than 50 thousands of works have been published in Esperanto, it finally did not avoid being eliminated by the time (Polinsky Comrie Matthews, 2003). As an ideal trial, the invention of Esperanto reflected the dream that people want to create a completely impartial language to benefit the world. It was failed due to lack of root in any n ations economic and cultural life. The consequence also proved that language had to set root on the nations history and experience. Impossibility of Eradication of Languages Although it can be seen that language homogeneity can produce much benefit for the human race politically and economically, it is impossible for the entire world speak the same language in the foreseeable future. People once predicted that when the worlds economic system come to stable enough and people really believed that only one language is superior to language varieties for their life, the nation and languages differences will go to elimination and will be taken place by language homogeneity (ONeill, 2008). However, how long will this consciousness come to be true in the future? It is obviously that at least in the next 100 years this will not be reached by the human race. Actually, formulation of languages is more complex than people thought. It is at least being affected by the following five factors: Firstly, Language development is an outcome resulted by long history to become the current mature communicative system. From the ancient times, as people invented their native language, it has been continuously improved to be more effective for communication (Putz, Martin Marjolyn, 2000). It can be seen that after being developed through thousands of years modern people can hardly recognize their native languages ancient edition. If they check back their ancient language, they would find it was not so easy to express precisely what they want. For instance, Chinese people have to spend large amount of time to learn the old language since most of their characters have already change their original meanings. Actually, all languages have taken a long period of time to evolve to the current forms, which will be difficult for a new language to achieve in short time. If a world language has been created now, can people have the patience to use it with a lot of confusions? The answer is obv ious. The world would be impossible have such far-sight to benefit their offspring to enjoy the language homogeneity. To some extent, language is spontaneous and can not be created on purpose. An existing language has been tested by its speakers through long period of time. It is naturally produced to meet needs for communication and developed also to meet need for better communication. English is now being learned by people from all over the world and have been impulsively promoted by authorities from many governments for nearly 100 years. Nevertheless it is still not mastered by most people from the countries learning it. A hundred-year time actually is very short for language development process. Therefore, the unification of language is hardly to achieve in one or two generations. Secondly, language is produced due to the need of communication but has developed to a more complex product which is also reflecting the culture of a nation, which also enhances difficulty of people from one nation quitting their current language (Botha . C. Knight, 2009). In other words, language is a kind of art and has been merged into many national feelings. For some people, their native language is not just for communication since they can also enjoy a lot more from appreciating it (Gordon, 005). Many people would have the experience of reading translated article from foreign great writers. Nevertheless it is always difficult to understand the original meaning of the author although the article is translated by the best linguists or translators. English learners usually find it is finally losing the beauty of the original works when reading it in their native language edition. And further, some works is classical not just due to its meaning but also attribute to its rhyme. This will make it impossible to reaching the feeling when it has been translated to other languages. And also, many people are pursuing in other jobs relating to languages such as Chinese calligraphy. A language has evolved to an art which is mainly emphasizing on its look and image. Therefore, the eradication of one language will not just force people dropping their familiar communicative tools but also will ask them to drop a long history of art which may be considered as their national treasure. Thirdly, social status of speakers of one language affects significantly whether it can develop into prosperity or go to extinction. There are thousands of sorts of languages ever being created and spoken by people all over the word in the history. But 90% of the languages can not avoid going to extinction and being forgotten forever by their native speakers, which was caused by the lower social class of the speakers (Skutnabb-Kangas, 2000). It is true that languages also have their social status as their speakers and they have been undergoing fierce competition from the time when created. From some examples this phenomenon can be explained in details. Why English gets some much attention all over the world today? Why many countries choose English as their second language. Its speakers social status may matter a lot to give the reason. After entering the 20th century, English speaking countries has developed to be the most powerful and wealthy areas, which means their dominance in ec onomical and political fields in the international interaction. If the word is perceived as a society, Americans and west Europeans are in the upper class without any doubt. Then English established its advantage in the competition process and now develop to be a language spoken by more than 2 billion speakers. From the example it can be seen that the power of a language is in deep relation to its speakers. Therefore, for a new created world language, its fate of development to some extent decided by whether the upper class have the interest to speak it. If it just can be promoted in a small group of people in lower social class, soon or later it will suffer from the result of those extinctive languages. In the foreseeable future, English is still the first consideration for most countries to communicate in international issues. If word language can come along, it is only can be English for its social status. Fourthly, language difference exists also connecting with the speakers profession. People can always guess what the persons job just through the way of his talk. Politician will always give speech agitatively while scientists speak in a way hard to understand but precise. University students will always talk their slang from which their status can be easy to tell. In addition to their talking style, profession vocabulary is also a decisive factor for language difference. For a non-native speaker, it is almost impossible for him or her to recognize the professional but important words. Therefore, as a mature developed language, it not just contains the daily communication and large amount of professional vocabulary should also be included to fulfill the professional need. Does it possible for a new language to get the complexity in short time? A world language as a good will to the world development may have difficultly to fulfill this requirement unless experiencing long history of e volution. The existence of this problem would lead to it is only possible to choose one widely used language to be the world language in the future. English may be the first consideration while there are also other possibilities such as French and Chinese and other languages that have developed to be a well round system. Fifthly, as a complex system, language is also a reflection of the speakers worldview. There are some explanations about what worldview is. The most direct one is that worldview is the overall perspective from which one sees and interprets the world (Geoffrey, 2002). It has been proved that different nations have different worldview and people are taking a totally different perspective on those basic ontological issues from that in other nations. For some nations, their religious belief which differs from others can be reflected in their own language. But in another language, it may be difficult to find out vocabulary or expression to interpret their religious thought or behavior. However, religious beliefs for all nations are always the very important consideration for them to merge. For some people, religious belief is their motivation to be alive and if they can not find their religious belief in language change things will get seriously. Religious conflicts have led to a lot of w ars to world and this may happen when the languages of the word are forced to be get unified. Therefore, worldview of speakers of different language may be also a disturbing parameter to hinder they merge into each other. Possibility of English Developing into the only one Language of World When the world rolled into the 20th century, English speaking countries established their advantages in political and economical and cultural fields. In the 20th century, countries of the world went to together rapidly due to some transnational events such as the two world wars and communication in scientific and cultural and academic arrears. America became the dominant country of the word and has input much into other areas including technology and culture. Added to English basis left in the colonial countries across the world, English then has been chosen to be the most popular language for many countries (Mithen, 2005). In the 21st century, as globalization continues to evolve into deeper extent, the need of one international language would be more necessary for all the countries and it can be seen that English will continually take this important role. However, can the English become the first language for all the countries in the foreseeable future if it is developing as fast a s countries go to together? The answer is no. To some extent, English is the world language for transnational issues when people from different countries have to communicate for benefit. But no matter how English will be popular, it is still the first choice for non English speaking countries to communicate internationally, not the native language for their daily communication at family or at parties with local friends. As what has been said above, language is related to history, culture, social status, profession and worldview of the speakers. To accept English as the daily language and eradicate their current one, it is still far away from the communication just in official occasions. From the history it can be seen that only colonialism can input language into another countries and force them to forget their original language with high speed. But it will always bring tragic loss for the human race in many other areas. Therefore, English may still be the most popular language of t he world in the next centuries but will have no way to become the only one among the countries in the world. Conclusion In conclusion, the formulation of a language is more complex than people think. It is at least related to five aspects as the essay has discussed, which make it impossible for a new created language to reach the conditions. To become a language accepted and implemented broadly by people across world, the language should experienced long history of evolution to have the cultural basis. And also, it should be accepted by people from the main stream and from various religious groups. In addition, the new language would be possible contain vocabulary in many professional fields. Most of these features of language have to develop through thousands of years of implementation by people who take it. If possible, English may become the only one langue spoken by people all over the word in the future nevertheless it would be unable to realize in the next centuries. Therefore, it is impossible in the foreseeable future that variation within existing languages can be eradicated.

Romesh Gunesekeras Ranvali: A Refutation of Conventional Characterizat

Romesh Gunesekera's Ranvali: A Refutation of Conventional Characterization "Ranvali" serves as a personal reminder. It conveys sadness and regret with the narrator's realization only years after her father had died that she had been mistaken about certain aspects of him and that after this realization, she was unable to try to improve their relationship because he was no longer alive. The characterization of her father is essential in carrying across this sadness and regret because his character - the person of the father, to be contrasted with the qualities of the father, is the preconditions for the narrator's flashbacks. The objective of this paper is to refute the conventional argument that the functional role of a character makes it secondary in importance in a narrative and hence, show "Ranvali" to be a character-centred narrative. The stand that this paper takes, therefore, is that the functional role of the narrator's father makes his character an integral part of the narrative, such that "Ranvali" is a character-centred narrative. Before embarking on the analysis of "Ranvali", it is necessary to introduce three theories surrounding the notion of character in narratives. According to Aristotle's theory of character, a distinction can be made between an agent - a person who performs actions and is necessary, and, a character - "something that is added later and in fact, not even essential to successful tragedy . . . Added later . . . if at all" (qtd. in Chatman 109). In "Ranvali", the narrator's father is an agent because of his importance to the story, which will be elaborated upon later. However, he will be constantly referred to as a character in this analysis so as to be consistent with the terminology throughou... ...ves. By superimposing Todorov's theory of character, the second inference - this secondary importance of characters in narratives implies that such narratives are not character-centred, was made. The first argument has already been refuted in the previous section where the functional role of the father is shown to cause him to be of primary importance in "Ranvali". As for the second argument, it has been refuted along with the refutation of the first argument, as well as, the satisfaction of both of Todorov's criteria. The conclusion, therefore, is that "Ranvali" is a character-centred narrative, where the deceased father is a primary character. Works Cited Chatman, Seymour, "Existents" Story and Discourse: Narrative Structure in Fiction and Film. Ithaca: Cornell UP, 1978. 108-114. Gunesekera, Romesh. "Ranvali." Monkfish Moon. London: Granta, 1992:89-102.

Analysis of Brick Cleaner Essay

Aim: To find the percentage by mass of hydrochloric acid present in brick cleaner by doing an acid-base titration. Theory/Hypothesis: The main ingredient in brick cleaner is HCL and must be diluted and titrated with a base to be able to analyse it. It reacts with parts of the concrete which allows it to remove the concrete from the bricks. I think there will be around 30% of HCL in brick cleaner. Materials: * 5mL brick cleaner * 100mL, 0.1M standard sodium carbonate solution * 250ml de-ionised water * Methyl orange indicator * 250mL volumetric flask * 4x100mL conical flasks * Small funnel * 10mL measuring cylinder * 20mL pipette * Pipette filter * Dropping pipette * Burette and stand * White tile * Electronic balance * Safety glasses * Gloves Method: 1) A 250 mL volumetric flask was weighed with it’s mass recorded 2) A 10mL measuring cylinder was used to pour 5mL brick cleaner into the volumetric flask. The flask was stoppered straight after all the brick cleaner was in the flask. 3) The flask was then reweighed 4) De-ionised water was added until the flask was about half full. The flask was stoppered and shaken carefully upside down several times. 5) More water was added to the flask about a cm below the graduation line. A dropper was used to accurately drop the right amount of water to the flask so the bottom of the meniscus was on the graduation line. 6) A 20mL pipette was used to put 20mL of sodium carbonate solution into each of the four 100mL conical flask. 3 drops of methyl orange indicator was added to each. 7) The burette was filled with the solution of brick cleaner. 8) The sodium carbonate solution was titrated with the solution of brick cleaner until there was a clear permanent colour change. 9) Steps 7 and 8 were repeated until 3 concordant results were Results: Weight Volumetric flask 78.968g Brick cleaner 6.00g Titre 1 2 3 Initial vol 2.3 23.4 3.0 Final vol 23.4 44.5 24.0 Vol added 21.1 21.1 21.0 Calculations: On page attached. Discussion: The weight for the brick cleaner may not be 6.00g as the volumetric flask was not weighed again with the brick cleaner in it because that step was forgotten. So the result above was taken from another student that did the prac. This will affect the results as the mass of the brick cleaner is used to determine the percentage by mass of HCL in brick cleaner. All 3 titres show that they are only within 0.1 of each other. The hypothesis has been disproved because it was suggested the 30% of HCL would be in brick cleaner and there’s only 2.4% although it’s not certain that those steps were done correctly. There were no problems encountered during this prac. Focus Questions: 8)a) the manufacturer says that brick cleaner is made up of around 35% HCL, which is a massive difference to the answer that was got in this prac but again question 7 was not done correctly. b) differences in class results occur because not everybody would have done the exact volume of brick cleaner, sodium carbonate etc as each other therefore the difference in results obtained. 9) To correctly clean up a spill of 20mL brick cleaner you would mop it up immediately, washing it away with massive amounts of water 10)a) volumetric flask= once with water twice with brick cleaner b) Burette= once with water twice with diluted solution of brick cleaner c) pipette= once with water twice with diluted brick cleaner d) conical flask=once with water twice with sodium carbonate solution Conclusion: To conclude, there should be 35% HCL in brick cleaner although it was found that there was only 2.4%

World oil supply essays

World oil supply essays Oil, one of the most precious commodities of the mechanized age, is available in limited quantities as it is an irreplaceable resource. Not only does oil run the United States and hundreds of other countries around the world, but it also is a vital element of the global economic system. Without the trade and drilling for oil, economic growth and prosperity would be an overbearing task. Crude oil prices as well as refined oil products are volatile and have risen by over 25% in 2004 alone and the latest rises are causing worries in importing countries about the economic cost of higher energy prices. Major oil exporters are divided between countries such as Saudi Arabia (the largest oil exporting country in the world) and Kuwait, who favor of lifting output in an attempt to ease price, and countries like Venezuela which argues against conciliatory moves toward big consumers (mainly the United States). From an economic vantage point, there are many factors that create price instabil ity for the trading nations of oil. One cause of the rising price is the increasing (rightward shift) of demand in the oil market. Global economic expansion is driving the biggest increase in oil demand in 16 years. Blossoming economic powerhouses like China rapidly expand their economy and create a huge demand boom. US demand has increased as well because of strengthening economic recovery and the strengthened economy translates into a need for a higher grade of cure oil for the large numbers of Sport Utility Vehicles and other large cars and trucks. As a result of the increased demand, suppliers do not have enough significant reserves of oil to release and trade in the market. As a result, a shortage is created. The shortage forces consumers (countries) to pay a higher price while producers (exporting countries) demand a higher price in order to bring the oil on to the market. Oil is a highly inelastic good. This means that the ...