Economics And Business Financial Accounting For Companies Assessment - 1375 Words

Economics And Business: Financial Accounting For Companies Assessment (Essay Sample) Content: Financial Accounting for Companies Assessment 1 Case Study Analysis Student’s Name Institutional Affiliation Date Financial Accounting for Companies Assessment 1 Part I An intangible asset is measured initially in terms of the asset cost. This cost could be explained in terms of separate acquisition, business combination and lastly through an internally generated entity. In separate acquisition, price an entity pays is normally a reflection of the expectation that the future benefits will flow to the entity that has acquired the property. The implication of this is that the entity expects that there would be an obvious flow of the economic benefits despite the uncertainties and the volume inflow. However, an intangible asset cost could also be measured reliably (Hunter, Webster & Wyatt,  2012). This reliable measurement happens especially when purchases is in the form of cash or any other monetary asset. Such costs that can be attributed to acquired assets are price of purchase plus other costs which directly make an asset to be in its rightful and working condition The other way through whi ch acquisition of intangible assets takes place is by business combination. In this case, the asset value can be measured reliably and without any hindrance. An asset, which has been acquired this way, could be separable, though this only happens together with related liability, contract and identifiable assets. For such an acquisition to take place, the acquirer has the burden to recognize the intangible asset in a separate way from the goodwill but altogether with the related items (Hunter, Webster & Wyatt,  2012). In fact, the acquirer could in a position to identify intangible assets which are complementary as a single asset as long as the individual assets have similar usefulness. Lastly, acquisition through an internally generated entity, normally have myriads of problems of whether or when there is an asset which has been identified and which will result into the future expected benefits. In some cases, it might not be easy to differentiate the costs of generating an intan gible asset to that of maintaining it, not to mention the goodwill generation cost and those of operating the organization daily (Zambon, Zambon & Marzo,  2016). It thus implies that for an entity to comply with general requirements for initial measurement and recognition, it must apply all the requirements stated in paragraphs 52 to 67. Part II The costs which are incurred in the phase of research of an intangible asset should be recognized as an expense the moment that it is incurred. At the same time, in the research phase of an internal project, it could not be possible for the entity to demonstrate that the intangible assets could generate meaningful benefit in the future. This would therefore be the reason the recognition of an expenditure could be done as if it were an expense but only after it has been incurred. Research activities could involve search of information which is new and has never existed (Bounfour & Edvinsson,  2005). Other issues which entails research phase are the search of alternative materials from those already existing and search evaluation as well as the selection of findings of research. However, an intangible on the stage of development phase can only be recognised when an organization could prove various issues. The first issue to be proved, in this phase in an internal project would be th e technical feasibility about completing a project so that it can be presented for use or sale (ZÐ ¹ghal & Maaloul,  2011). Another issue to be clarified is whether an intangible asset is being completed for use or sale in an organization. Yet another condition is the ability of the asset to measure the expenditure which is attributed to an asset reliably during the process of its development. The other issue is how the asset, intangible could be able to generate some future benefits of the economic benefits. Again, it is at the phase of development where an organization would be required to identify an asset termed as intangible as well as showing that it would generate some benefits which are economical in the future This comes as a result that development is far much ahead of research as it involves actions which have been taken. These activities which could amount to development include construction, design and testing of those pre-production models. Yest another work is of designing the tools using new and improved technology, leave alone piloting the plant to be used for testing purposes. To demonstrate the acquisition of economic benefits by an intangible asset, future benefits to be received should be assessed by the concerned entity (Zanoni, 2009). If the economic benefits are generated by the combination of various assets, the concepts of cash-generating can be used as mentioned in the NZ IAS 36. Moreover, the resource availability for completion and use requires a plan of a business that shows both financial and technical resources are at its disposal to carry out everything that it needs. At some points, it’s the entity to show the presence of an external source of fund through an indication of the lender over his willingness to fund a plan that is to be undertaken (Stanton,  Stanton,  & Charles Sturt University. 2005). At the same time, the costing system that is used can occasionally measure reliably the cost that could be used i n generating the intangible asset but from within the entity concerned. This could be costs like salaries and the expenditures incurred in securing both copyright and patent licences which could aid in the software development. Lastly, any internally generated brands and other items which are similar need not be recognised as intangible asset. In fact, the expenditure on internally generated brand cannot easily be distinguished from those costs which are used in the development of a whole business (Thomas,  2015). This means that items of this nature cannot be grouped as intangible assets by entities which are involved. This criterion given here is very clear and hence any cost should not be ignored unnecessarily to avoid errors in the determination of such. Part III The costs which are incurred in January 2017 on the salaries for those involved conducting the basic tests falls on research phase of development. This is the reason such cost should be recognised as it is spent and not before spending. This is what has been provided for in the journal on the costs which are research related (Peterson,  2002). This particular cost is, therefore, very key for any entity since it contributes to the overall value of the asset which is termed as intangible. February spending, however, is used in development purposes as it involves the actual improvement of the Two Rocks Limited. Such spending, however, did not result into a meaningful direction since the filter made was not successful, it could not perform to the required ability. This is the reason why it is stated in the journal that such costs should only be considered once they have been incurred and not before (Peterson,  2002). This is brought out by the uncertainty of the use of such costs being reflected in the final outcome of the investment in an entity. In March, however, there was the acquisition of fibre division of the company called Sand Hill Ltd for a cost of $330,000. This buying was to hel p Two Rocks Ltd to use the fibrous material produced by this company to improve on their filtration process. It is this fibre acquisition that made the Two Rocks Ltd to get patent for the fibrous compound that they were trying to come up with (Kieso, Weygandt & Warfi...

An English Language Dialogue About Prescriptions

ESL Students and teachers can use the following short description of prescriptions in order to expand and check common English usage of terms relating to medical prescriptions, as well as treatments.   A prescription is written by a doctor to give patients medicine needed to alleviate symptoms or stabilize a medical condition that might be chronic in nature. The prescription is written by a physician in order to tell the pharmacist which medication is required. These often include a number of prescription abbreviations. Prescriptions vs. Recommendations Prescriptions are used for medications that a doctor feels is necessary for treatment. These are legal documents that are required in order to receive the medicine which is prepared by the pharmacist in a pharmacy. Recommendations, on the other hand, are courses of action that a doctor feels will be helpful for the patient. These could include simple daily tasks such as taking a walk or eating more fruits and vegetables. Dialogue: Giving a Prescription Patient: †¦ what about the problems Ive been having sleeping?Doctor: Im going to give you a prescription for some medicine to help you get a better nights sleep.Patient: Thank you, doctor.Doctor: Here, you can get this prescription at any pharmacy.Patient: How often should I take the medicine?Doctor: Just take one pill about 30 minutes before you go to bed.Patient: How long should I take them?Doctor: The prescription is for thirty days. If youre not sleeping well after thirty days, Id like you to come back in.Patient: Is there anything else I can do to help me sleep at night?Doctor: Dont worry so much about things at work. I know, I know... easier said than done.Patient: Should I stay home from work?Doctor: No, I dont think thats necessary. Just remember to stay calm. Understanding Prescriptions Prescriptions Include: Patient identifier: first and last name of the patient, as well as the date of birth (DOB)Medication (also named drug): The medicine that is prescribedStrength: How strong the medication prescribed is (50 mg, 100 mg, etc.)Amount: How often the patient should take the medicineHow much: Number of pills, tablets, etc. providedFrequency: How often the patient should take the medicineRoute: How the patient should take the medicine (by mouth, topical, sublingual, etc.)Refills: How often the prescription should be renewedSignature: Signature of the physician writing the prescriptionDate: The day on which the prescription was written Key Vocabulary amount how muchchronic recurring, happening again and againdrug idiomatic term used to refer to medicineeasier said than done not easy to dofrequency how often something is donemedical condition illness, sickness, diseasemedication medicinepatient identifier information that identifies a patientpharmacist person who has a license to prepare medications for patientspharmacy licensed store which sells medicine that requires a prescriptionphysician doctorprescription order from a doctor for medicineto refill to provide medicine again based on a prescriptionroute how medicine should be takenstrength how strong the medicine issublingual under the tongueto alleviate to make easier, to relieveto get a good nights sleep to sleep enough to feel restedtopical placed on the skinto stabilize to make regularto stay calm to be relaxedto take a pill to take medicine by mouth

Gender Inequality And The Social Construction Of Gender

Throughout this course, we have discussed how the differences in the social construction of gender, race, class, and sexuality have led to discrimination and inequality of those classified under a variety of these categories. Through understanding the significance of these social constructs on society it becomes apparent the intersectionality they have when it comes to understanding why certain groups may face discrimination or inequality. This paper examines gender inequality and how the social construction of gender makes it difficult for the pursuit of equality amongst genders. Gender is defined as the state of being male or female. In most instances, this state is determined based on the biology of an individual’s genitalia. Those born†¦show more content†¦This concept illustrates gender inequality because even in a field that is dominated by women, gender perceptions about men’s roles, abilities, and skills, privilege them and ease their advancement within the occupation. (Wingfield, p363-365) Women continue to face disadvantages in the workplace in regards to not receiving equal pay as well. There are many instances where women have the same or more qualifications to do a job than their male counterparts but do not receive the same pay. This difference in pay is not only related to gender differences but also racial differences. Women employees of different racial backgrounds tend to earn less money than their white female and male counterparts. Many women of color often face discrimination when applying to jobs and are overlooked for a position despite having the qualifications to do the work. When they are hired to these occupations they are not receiving the same pay as their white female counterparts. This double bind that minority women face within the work place continues to lead to economic hardships. Regarding women in the workplace in general, due to society’s high regard for men they are often not promoted to positions of authority or receive equal pay be cause people assume that women are inferior workers. (Buchanan, p205-207) Another social institution that reinforces gender inequality is the media. The media is a significant factor inShow MoreRelatedSocial Construction Theory : The Product Of Society And History851 Words   |  4 PagesFall Term Essay 1 Social construction theory explains human behaviour and identities as the product of society and history (Vance 29). This theory is the opposite of biological determinism and essentialism which suggest that genetic, physiological, and biological traits determine human behaviour (Vance 29). As mentioned in lecture (Klement), identities are unique to every person; they are the values, norms, values, and images in society that are combined, constructed, or created. 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Salem Witch Trials V. The McCarthy Hearings Essay Example For Students

Salem Witch Trials V. The McCarthy Hearings Essay The McCarthy Hearings are referred to as witch-hunts because of their similarity to the Salem witch trials. The McCarthy hearings are trials in which Senator Joe McCarthy accuses government employees of being Communists. He exaggerates and exploits the evidence and ruins many reputations just as the girls do in the Salem witch trials. The accused, in both cases, are used as scapegoats for societys problems and the only way to escape direct punishment is to admit to guilt. Joseph McCarthy and the girls from Salem begin to accuse people of being either Communists or witches to obtain, something they crave, power. No one actually has hard evidence to support these accusations, including the accusers. The more people they accuse the bigger the lies get. The girls in Salem begin to cry out that these witches are sending their spirits on them. The even go to the extent to start shivering, passing out, and mocking the accused as they walk into the room. Abigail Williams also sabotages, Elizabeth Proctor, one of the women she accuses of being a witch. When Abigail witnesses Marry Warren, the Proctors servent and one of the accusers, making a puppet and sticking a needle in its stomach for safe keeping Abigail knew it would be taken to her home at the Proctors. So she decides to claim she was stuck with a pin by Elizabeth Proctor through the technique of voodoo and Elizabeth is arrested that night for witchery. As for McCarthy he accuses anyone he sees. He even began to question the integrity of George C. Marshall and even President Eisenhower. He also, started an investigation on the Army. He never gave any kind of reliable evidence, he just started pointing fingers. Instead of trying to fix the problems in their society they blame the problems on something else so they wont have to deal with them. In 1692 a few girls got sick, they blame it on witch craft instead of thinking that maybe they were faking it or they got some kind of unknown sickness. In 1950 people begin to think differently than one another and have new ideas, people blame it on Communists instead of embracing the new ideas and learning and politely debating them. Now after they accuse these people, instead of dealing with the real issues, they force them to either declare their guilt or be severely punished. Just like John proctor and many others who were sent to death for not confessing. Both trials were completely deceitful and destructive to peoples lives. None of this would have ever happened if people would stop running away from their problems and stop being so power hungry. I just hope that this history will not repeat its self again. .