Germany Culture Essay

Have you at any point pondered where the Christmas tree originated from? Along time back, in the mid 700’s a priest, called St. Boniface, was lecturing a gathering of Germanic Druids. The Druids worshiped oak trees. Also, so as to stop the Druids worshipful admiration of oak trees, the priest hacked down a gigantic one. Slamming down to the earth, the tree squashed everything in its way, aside from a little fir sapling. The priest proclaimed this was a marvel that this one single sapling wasn’t murdered and closed, â€Å"Let this be known as the tree of the Christ Child.† And this is the manner by which to custom of having a tree during the Christmas season became. It was begun by the Germans, and moved to Europe, who carried it to America. [Marples] German Americans have had an enormous effect on the American culture. Perhaps the biggest explanation could be that individuals with German family line include around 51 million individuals, which makes up 17% of the entirety of the U.S’s populace. That’s about one fifth of all America’s populace where one of their progenitors started from Germany. [American] Germans began going to the British Colonies of the New World, presently the northeastern piece of America, during the 1680s. Numerous workers from German kept on coming to America during the nineteenth century. Many moved to America due to lack of land, and strict or political abuse in Europe. [Zane] Indeed, even as of late, Germans have helped shape America into what it is today. German Americans have impacted pretty much every field of American culture, including science, design, industry, sports, amusement, philosophy, government, and the military. Officers Baron von Steuben, John Pershing, Dwight Eisenhower, and Norman Schwarzkopf instructed the United States Army in the American Revolutionary War, World War I, World War II, and the Persian Gulf War. John D. Rockefeller, William Boeing, Walter Chrysler, George Westinghouse, and Donald Trump have likewise been a significant piece of American industry and business. Angel Ruth, Lou Gehrig, Jack Nicklaus, Doris Day, and Leonardo DiCaprio became well known competitors or entertainers. Lastly Albert Einstein and Wernher von Braun, two German Americans, incredibly affected America and the entire world. Numerous acclaimed, notable, and individuals who have changed America significantly have been German Americans. [German] German Americans have additionally changed the American food significantly moreover. Germans brought hoard mutts and cheeseburgers to the America’s, which is presently known as the â€Å"American Food†, or the food that individuals consider when they hear America. They additionally have the lager fermenting commanded for a large portion of America. German workers Eberhard, Anheuser, Adolphus Busch, and others have extraordinarily changed America’s lager showcase. [Mittelman] [Home of the Hamburger] By and large, the impact that German Americans have had on America is gigantic. They have helped shake America from multiple points of view including occasion customs, science, sports, diversion, and government. America isn't made of one individuals, yet of many. Also, their idea’s and conventions all combined is the thing that makes this such an extraordinary nation.

Dove Advertising and Body Odor free essay sample

While considering the item Dove it is an antiperspirant which gives additional insurance for individuals who have stench and it helps when an individual needs it to shield from getting personal stench, in this manner Dove antiperspirant wont make the move, the slogan that Unilever use for Dove will be utilized by solidarity Consultant to advance the item by utilizing another limited time crusade. Fundamentally Dove has wide scope of antiperspirant antiperspirants to shield individuals from getting personal stench and it gives 24 hours insurance, further, it gives truly newness and intellectually certain, even in the hardest minutes. . 1 Target Market The limited time crusades of Dove was mostly centered around it’s essential customers who were youthful grown-up females engaged with sports, and obviously the working populace of ladies and not-working ladies 16-45 who need to remain new and have a functioning way of life and have the certainty to spend the remainder of the day w ithout stressing over stench. We will compose a custom article test on Bird: Advertising and Body Odor or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page . 4. 2 Communication Objectives †¢Increase Dove brands piece of the pie by 10% inside one year. Make mindfulness among the objective gathering inside one year to 30%. †¢Create positive sentiments about the brand among 30% and inclination among 15% of the intended interest group. †¢Communicate key advantages of the Dove antiperspirant that intrigue to the objective market. (www. uniliversrilanka. lk) 4. 3 Campaign Idea †¢ Increase brand mindfulness. †¢ Build brand picture. †¢ Increase client traffic. †¢ Increase requests from end clients. †¢ Provide data Increasing utilization of a built up brand They followed IMC apparatuses as follows, 4. 4 Advertising The fundamental goal in promoting this was to make mindfulness and give data about Dove and to make Dove the best item in the antiperspirant business. Each significant medium had been utilized to convey these messages, including TV, radio, magazines, papers, the Internet, transporter packs and a nnouncements.

Poemtober!

Poemtober! You might have heard of inktober, a recent phenomenon where artists draw a picture for a different prompt every day in October. This year, one of my friends from hall, Lisa T. 20, and I decided to do poemtober, where we write poems to the inktober prompts. Were both not really artists (or not as much as Id like to be, anyway), but we wanted to exercise our creative muscles a bit and it came up that we both like to write! We have very different styles, as youll see I got her permission to publish a few of each of our favorites below, and Ive noted which prompt each poem was written to. I didnt manage to write for every single prompt, because, like, life, but I did make it through a lot of them. When I fell behind, sometimes I would combine prompts, and I actually really like a lot of the poems that came out of these. It was interesting to see what just sprang out of my pen and what was really hard to write since the prompts were intended for art rather than poems (and I think, especially, not for serious poems), some of them are. interesting. I got very lucky with drooling and had some same-day inspiration, but roasted, chicken, and whale didnt come to me so easily :P I always have mixed feelings about my own writing in the moment, as one does, but when I look back over the stuff I wrote in Oct., I really like a lot of it! Im glad that I wrote a lot more than I normally would have, pushed myself a little, and created some nice words. This also shows me that I dont have to sit around for two months waiting for the perfect phrase to come to me, which is my usual style. I definitely couldnt keep this up all year round, but I will try to write a bit more in the future, I think :) Les voilà! (Lisas is first, then I alternated them; also, she likes capitals more than I do.) 10/2: Tranquil My bare feet brush across the rain-soaked pine needles. My fingertips trace the damp, grooved bark of the fallen trees â€" their ancient, winding roots torn from the earth, their majestic crowns too heavy to weather the gale. The rolling hills are littered with broken branches and cracked cobblestones; rivulets of mud, silt, water, and debris pool in the dips and valleys. The wind is still now, though the humidity weighs upon my every breath. Thunderheads, dark and tense and low, press down upon my skin, my land, my sky. All around, lightning ripples, crackles, courses through my veins. I lift my arms and my voice, and sing, elegiac, to the open air. There is always a storm just past. There is always a storm to come. I am ready. The deepest tranquility I have ever felt is here, in the eye of the hurricane. 10/10: a start [exhausted/star/precious/flowing] from an exhausted star, all her energy expended and nothing left but to give up and die, were we born. what a power it takes to say, and mean it, that your bones will give rise to flowers flowers you cannot see nor control. i imagine the stardust and the light flowing out of her, the precious currency of life what a power it takes to let go, and watch, as your blood streams out of you to found another race. in the myths its always unwillingly we were created, or accidentally, but i like to think our mother knew it was the best (the hardest?) thing she could do with the power she had left, and in the moment that she traded her life for our being, she knew it was worth it. 10/4: Spell The mountains were once the bodies of giants, and the forests their dying blessings. The sweet meadow air was a spell of the faeries, and the flowers their final wishes. Bow your humble head, child; face this sacred sublime. Let the magic fade, child; give your final farewell. For it is all too old, too wild, too motherly and monstrous, for the likes of us to bear. 10/9: like a sack of potatoes [drooling] the windows are dark, but the planes purple night-lighting makes everything seem just almost as though it has colour. i tread carefully on my way to the bathroom, my legs cramped and unused. two people occupy seat 11A: a man and his sleeping daughter, age three perhaps, and i pause only for a moment not meaning to stare and see him wipe the drool off her chin as he holds her in his arms. right as i left for the airport my father came to me, wanting to show me how to take care of my bike, an image flipped and superimposed, now, and i feel his arm around me as i wonder if, when he looks at me, he sees a three year old whose drool he once carefully and lovingly wiped if he sees every person i have ever been, and how overwhelming that would be. how very many lives you must be able to hold in your hands, if you want to be a parent. 10/8: Star Last night when the lake froze over, I wrapped myself in a warm wool coat and pulled on gloves and hat and scarf, walked out over the moonlit snow and saw trillions of stars reflected there in that icy mirror. I laid down on that polished surface, felt the stars solid below me, saw the stars shining above me, and wondered, wondered, wondered. I thought about the vastness of the world, the limitations of my life and my experience; about all the beauty that I had and had not seen, all the cruelty that I could and could not change; how each action I took was both immense and infinitesimal, how ineffable and inexplicable it all was. I wept, and after my tears had frozen onto the quiet ice, I stood and walked home. I curled up on the cushions by my windowsill with a novel and a hot cup of chamomile tea, and watched the snowfall until I drifted off to a peaceful sleep. 10/30: and if my hands hold yours? [gift] you can hand me so much with your words although sometimes i feel that in the giving you are taking. interesting that; but between maybe 11 and 12 (ive scheduled the rest of my time for other anxieties) i wonder if it is i doing the taking. around 11.45, i add, maybe this is how it is. maybe it is not possible for anyone to give any person anything; and of course when i walk to class in the crisp air at 8.55, what a dumb idea, and instead i muse on the nature of these crooked and messy handcrafted gifts we give, on the tangled yarn skeins i have accepted into my being and burned for warmth. i dont know if i am taking something from you, in the admitting of this. actually perhaps like a doped semiconductor even our holes carry electricity; perhaps, although i do take, it is taking that you need to survive. i dont know. i am standing here with my hands full of phrases, spilling everywhere, and who knows if they are mine or yours, but i suppose we must attempt to cobble them together, to shove them together, into something somehow that heartens us both. 10/12: Whale   I dreamt of a haunting whale-song, encased in arctic ice I carved a chisel from my bones to free it The song flooded my lungs, drowned me Harmonious and sweet I closed my eyes and knew peace I sunk to a village on the soft sea-floor By a quaint cottage with seaweed swaying on the lawn A loving couple chatting on the front porch swing Their radio playing that same whale-song I asked their names Sedna, Ophelia, they said, and invited me in for tea I woke with memories of the advice they gave Promises of hope, love, a better life waiting Whale-song ringing crystalline in my ears Post Tagged ##Poetry #inktober #writing

Nietzsche s Philosophy On Morality - 986 Words

That all strive to self-overcome, and in turn, attain freedom, is a fact accepted by Nietzsche. What the thundering philosopher renounces is morality and its ill-mannered objective comprehension of the will to power. This he sees as the culprit who impedes on (modern) man s ability to understand and attain said power. The perplexity of objectivity and will to freedom is inevitably space from which the concept of morality arises. Nietzsche provides a detailed account of two forms of morality, that of the master and the slave. The individuals who correlate to master morality are characterized as strong individuals with a set of self-manifested which they live in accordance with. The masters think themselves powerful beings and equate this power to the Good. These individuals value create and determine good is that which is noble, good, strong, and powerful. This is affirmed by power and in turn, affirms the beliefs. (Nietzsche 115). Once a definition is ascribed to the concept of Good , the Bad is defined. That which is labeled as the Bad is likened to the weak-will, confused, oppressed individual. These are the individuals who compose the mentally of the slave morality. In likeness to their counterpart, they also long for power but due to subtle suspicion of the masters, attain it differently. Deducing a new set of values of that which is the Good, and declaring it that which is good for the whole. This Good they identify as the practice of patience, humility, pity, andShow MoreRelatedFriedrich Nietzsche s Influence On Modern Intellectual History And Western Philosophy1559 Words   |  7 PagesFriedman Wilhelm Nietzsche was a German philosopher, poet, cultural critic, philologist, and a Greek and Latin scholar. His work has had lots of influence on modern intellectual history and Western philosophy in general. It revolved mainly around art, philology, religion and science. He wrote about morality, tragedy, aesthetics, atheism, epistemology and consciousness. H owever, some of Nietzsche s most profound elements of his philosophy include his powerful critique of reason and truth. He arguedRead MoreBook Report On The Book Le Gai Savoir 1421 Words   |  6 Pagesfirst time I heard about Nietzsche was a few years ago, in my chemistry class. I had a friend who spent all his time, in science classes, reading books about philosophy. His nonconformity caught my attention. I started to be interested by the big mustache of the author on the cover page of his book Le Gai Savoir, because I knew, of course, that all authors with big mustache – such as Victor Hugo and Albert Einstein – wrote about great things! So I started to read Nietzsche s works. Then, one day, myRead MoreNietzsches Will to Power1697 Words   |  7 Pagesof the will to power successfully â€Å"debunk† traditional religion, morality, and philosophical claims to provide the â€Å"disinterested† or â€Å"objective† truth? Nietzsche introduced an idea of philosophy that was more than simply a rational groundwork of existence or as the pursuit of an absolute truth. Instead, he suggested that philosophy is something to be respected as a personal interpretation of life and all its faculties (morality, existentialism etc.) and that was – for him - focused on life affirmationRead MoreImmanuel Kant And Friedrich Nietzsche Essay1504 Words   |  7 Pagesand Friedrich Nietzsche are two widely acclaimed philosophers due to the groundwork they made towards the philosophical principles of morality. However, even though they both have openly discussed their views, they have ended up contradicting each other. Kant implied that morality is not learned, but rather predestined, whereas Nietzsche alluded to a experience based morality, or one that is learned through actions and memories. Although these two men have accepted views of morality, the ideas ofRead MoreAristotle And Aristotle s Theory Of Moral Virtue 1229 Words   |  5 PagesNietzsche and Aristotle were two of the most significant philosopher of not only their time but their works has lasted throughout the centuries to influence even some today’s greatest minds. Their works however could not be any separated, Aristotle is a prominent figure in ancient Greek philosophy, making contributions to logic, metaphysics, mathematics, physics, biology, botany, ethics, politics, agriculture, medicine, dance and theatre. He was a student of great thinkers such as Plato and SocratesRead MoreNietzsche And Murdoch s Theme Of Morality978 Words   |  4 Pages Nietzsche and Murdoch’s Theme of Morality One of the nineteenth century’s greatest philosophers is Friedrich Nietzsche. Nietzsche was ideas regarding morality and nature continue to be debated today. Irish Murdoch another great philosopher writer of the 20th century wrote about philosophy regarding religion and nature. Both philosophers discuss the theme of morality in contrasting ways. Nietzsche believes in individual morality from the natural perspective and religion not from nature. MurdochRead MoreNietzsche s Philosophy On Personal Life And Education1200 Words   |  5 PagesFriedrich Nietzsche was a German, writer, poet, thinker and philopher. He was renowned for his ideas on the end of religion, existentialism and the concept of good and evil. Nietzsche focused essentially on the end of religion. He once declared that â€Å"God is dead†, a statement that decidedly defied Christianity as well as morality. According to the Stanford Encyclopedia of Philosophy, he was rapt in the development of â€Å"ind ividual and cultural health, and believed in life, creativity, power, and down-to-earthRead MoreMaster Morality vs. Slave Morality: Neiztche867 Words   |  4 PagesMaster Morality vs. Slave Morality: Neiztche Wikipedia defines morality as â€Å"a system of principles and judgments based on cultural, religious, and philosophical concepts and beliefs, by which humans determine whether given actions are right or wrong.† (Wikipedia Morality) Friedrich Wilhelm Nietzsche, a German philosopher thought up of the idea that there are two moralities; The master and slave morality. These define a person by there actions to there world around them and how they handle certainRead MoreAnalysis Of Spinoza And Nietzsche s Spinoza 1699 Words   |  7 Pagesup a morality, for a very simple reason: he never asks what we must do, he always asks what we are capable of, what s in our power, ethics is a problem of power, never a problem of duty. In this sense Spinoza is profoundly immoral. Regarding the moral problem, good and evil†¦he doesn t even comprehend what this means. What he comprehends are good encounters, bad encounters, increases and diminutions of power. Thus he makes an ethics and not at all a morality. This is why he so struck Nietzsche. Read MoreComparing Nietzsche And Freud On Crime And Punishment931 Words   |  4 PagesConception of civilization in Nietzsche and Freud in relation to crime and punishment Nietzsche critiqued modern civilization since the entire scheme of modern society went against his philosophy. Nietzsche was afraid modern society and religion would bring the individuals to nihilistic voids, as they would eventually turn into uninteresting herds of controlled animals. Nietzsche wishes the individuals to achieve self-awareness, in that individuals would act upon themselves for what they truly

Inside Mass Trading By The Nearby Chairman - 1320 Words

Amid this week, I have been hired as a consulant by the nearby chairman to outwardly analyze the sundry business structures. My part is to give dissection and answers to these principal inquiries that will profit the chairman comprehend the structures of a number of the organizations in his city. With a specific end goal to short the leader, I was given the errand to examine the different business structures and qualities of every that will be examined in incredible detail alongside samples of the sundry business structures. Different focuses that will be examined are: true life case of the business sector structure in the leader s city, high ingression hindrances into a market, the aggressive weights that are available, the value†¦show more content†¦Every last one of these businesses has it attributes that different each from an alternate. Markets might be delegated aggressive relying upon what number of merchants are searching for the interest of clients and having sola ce that new business first market structure. Flawless rivalry is characterized as the business structure in which there are numerous merchants and purchasers, firms create a homogeneous item, and there is free section into and passageway out of the business (Amacher Pate, 2013). Inside immaculate rivalry, there are an extensive number of merchants. Since there are an extensive number of venders of the same item, the cost can t be influenced. An alternate normal for impeccable rivalry is the simplicity of moving lock stock and done with the business. The interest bend for the creation delivered by a superbly aggressive firm is splendidly flexible at the beneficial business cost. The firm can offer the majority of the yield that it needs at this cost in light of the fact that the business is a fairly little piece of the business sector. As a value taker, the firm does not need to right to charge a higher value and would not charge a lower cost. The business worth taking a gander at a flawlessly aggressive firm is additionally o rdinary income yet, most vital, peripheral income. There is no administration confinement, tenets, and regulations. There is no start up expense. Over the

Client Understanding Paper Free Essays

University of Phoenix ACC/541 Client Understanding Paper As per your request of an analysis of the following topics: Adjusting lower of cost or market inventory on valuation, Capitalizing interest on building construction, Recording gain or loss on asset disposal, and Adjusting goodwill for impairment. The Financial Accounting Standards Board (FASB) established clear guidelines addressing the items mentioned above. I will outline that FASB generally accepted accounting standards (GAAP) affect each area, and how these improvements to the company will benefit the company’s financial health (FASB, 2010). We will write a custom essay sample on Client Understanding Paper or any similar topic only for you Order Now The methods of inventory valuation are different according to companies, but at the end of the day the chosen method should be consistent each year according to the general accepted accounting principles. A manufacturing company will generate inventories for finished product, raw materials and work in progress, so lowering the cost of market inventory can be very intimidating and consuming. Inventories and prepaid expenses present some additional valuation issues. With the emphasis on net income reporting, the inventory valuation process has become secondary to the matching of expired inventory costs to sales. The use of any of the acceptable inventory flow assumption techniques prescribes the amount that remains on the balance sheet, and it is likely that each of these flow assumptions will result in different inventory valuations in fluctuating market conditions. In addition, the accounting convention of conservatism requires that a lower of cost or market valuation be used for inventories (Schroeder, Clark, Cathey, 2005). Using the first-in-first out (FIFO) or the last-in-first-out (LIFO) method is the perfect way to identify the cost of each inventory item. â€Å"A valuation method (e. g. LIFO, FIFO, average cost and specific identification) is used to compute the cost of the inventory dollar amounts and then it is compared to the market dollar amount. † LIFO is not commonly used because the last goods purchased are the first to be sold. The inventory at the beginning of the year will have the earliest goods purchased acquiring a valuation of an early price. FIFO is better used for lowering cost especially during periods of increase prices. It is also important to identify a method for valuing the items in the inventory and calculating the cost of goods sold. This can be done through the cost method, the lower of cost or market and the retail method. â€Å"A valuation method is used to compute the cost of the inventory dollar amounts and then it is compared to the market dollar amount. The lower of the two amounts must be used when recording inventory. † The cost method involves all direct and indirect costs to acquire the inventory. The cost of the products purchased consists of the invoiced purchase price minus discounts or trade with and addition of transportation, shipping additional cost incurred for attaining the product. Lower of cost or market method â€Å"determine the market value of each item on hand as of the inventory date, compare the market value with the cost of each item, and use the lower of the two as the inventory value of that item† (Hagen, 2005). The American Institute of Certified Public Accountants (AIPCA) in conjunction with the Financial Standards Accounting Board (FASB) issued ARB No. 3 that lower of    cost or market rule apply to all inventories. Lower of cost or market aspect (LCM) is also supported and defined by SFAC No. two and SFAC No. 6. The LCM rule considers the market that purchases and sells the inventory. In general, the conservatism principle applies to LCM method of accounting. Conservatism principle directs a company to choose the more â€Å"conservative† dollar amount when considering two amounts that represent inventories. This helps a Company to report accurate losses on their income statement. To determine LCM, one must also consider net realizable value (NRV). This value represents the selling price of inventories minus the fees associated with completion of sales. The NVR is key to determining true LCM. Conclusion of market value also refers to an items current replacement cost. This cost falls between the NRV (ceiling value) and the floor value (NRV- normal profit). Inventory cost adjustments are required by accounting standards. Incorrectly reporting inventory values at higher levels is a fraudulent act (with harsher penalties under Sarbanes Ox). Inventory valued at $10 with a true value of $5 is a punishable event (FASB, 2010). When a building asset is developed, a vast amount of time is required between the start and completion of the project. Normally the cost of should include all cost to prepare the asset for its useful life of the asset or for sale. The capitalization of interest cost on a building give a guideline on the amount of interest to be capitalized and for the financial statement disclosure. The expenditures must be qualified ahead of time, activities must be in progress and the company must be paying interest. Capitalization ends when the building fully constructed and is in use. Interest is not capitalized on inventories manufactured on a repeated basis or if the building is acquired using gifts or grants under restriction by the donor or grantor. â€Å"When additional financing is incurred after construction expenditures have begun, a firm may capitalize interest on construction expenditures either using an end-of-period average interest rate that includes all financing outstanding at the end of the period (general or specific, as appropriate) or using only the finance outstanding when the construction expenditure was made. Scofield, 2004) The average capitalized rate can be computed using the weighted-average or the specific method. If you were to purchase a building after it was completed, the sales price would include all costs (plus a profit to the seller). Part of the costs in building something is the interim borrowing costs†¦ in this case, the construction loan. Adding the loan to the other costs (brick, mortar, labor) is called â€Å"capitali zing† the interest expense. This creates a higher cost basis for the building and can be â€Å"recovered† through the depreciation expense deduction (over the life of the building). The three main events in the life of an asset are the acquisition, useful life, and disposal or retirement. At the end of an asset’s life, gain or loss of its disposal is recorded. A gain or loss will take place at the disposal of any assets and should be logged as journal entry along with any related incidental cost. The unrealized gains and losses are noticed according to its earnings. All changes whether upward or downward that involves investment shares are shown as income or losses with a change in market value that requires an adjustment to its carry value. At the time disposal there can either be a gain or loss or no gain or loss. Schroeder, Clark and Cathey states that all unrealized gains and unrealized losses will be valued the same for asset valuation purposes. For trading securities, the gains and losses are noticed in those periods in which they occur; for these assets the method is consistent with other accrual accounting requirements. A consistency with the SFAC No. six definition of comprehensive income is determined because comprehensive income is determined by the changes in net assets and would include changes in the market values of assets. For trading securities, no further masking of gains against losses that occurred under the aggregate valuation approach of SFAS No. twelve is needed. Goodwill for impairment must be assessed by companies at least once per year. If an impairment of goodwill the carried amount will be lessened and there will be recognition of impairment loss. Goodwill for impairment test must be recorded as reporting units. These could be the company’s operating segments identified under SFAS 131, or a â€Å"component† of a reportable operating segment as defined in paragraph 30 of SFAS 142. (Huefner and Largay III, 2008). Goodwill is comparing each unit’s estimated fair value of the reporting unit with the unit’s fair values of its identifiable net assets. This process and the process of allocating purchase price differentials of asset acquired, goodwill and liabilities assumed is very similar. The total of the tentative assignments of goodwill to reporting units can surpass the total goodwill recorded by the total entity but when this occurs, the tentative unit assignments are reduced in some reasonable fashion to make the sum equal to the total recorded goodwill (Huefner and Largay III, 2008). Losses on impairment cannot be changed but according to Schroeder, Clark and Cathey, an impairment loss for goodwill should be reversed only if the specific external event that caused the recognition of the impairment loss reverses. A reversal of an impairment loss should be recognized as income in the income statement for assets carried at cost and treated as a revaluation increase for assets carried at revalued amount. At the end of the developing period, the annual impairment test is done on an aggregate basis, which means an increase in goodwill on some books annot offset impairments found in other units. Huefner and Largay III also states that given the potential significance of the change in the accounting treatment of a major asset, the authors expected to observe numerous large impairment write-offs due to implementing the new standard, and large increases in net income because of eliminating goodwill amortization as an expense. In conclusion assets involving current assets, long-term investments, fixed assets, and intangible assets at some point can be changed into cash. Intangible assets except goodwill can either be determinable or indeterminable useful lives. Schroeder, Clark and Cathey explain that those with determinable useful lives are written off over the period of benefit. The cost of acquiring goodwill as well as intangible assets with indeterminate useful lives, is not amortized. References Schroeder, Richard G. , Clark, Myrtle W. , and Cathey, Jack M. (2005). Financial Accounting Theory and Analysis, The Development of Accounting Theory. Financial Accounting Standards Board. 2010). Financial Accounting Standards Board home. Retrieved April 5, 2010 from, http://www. fasb. org/. Scofield, B. (1994) Full disclosure of interest capitalization decisions. The National Public Accountant. Retrieved on April 5, 2010 from http://www. allbusiness. com/accounting. Huefner, R. J. , Largay J. A. (2008). The CPA Journal. The Effect of the New Goodwill Accounting Rules on Financial Statements. Retrieved on April 5, 2010 from http://www. nysscpa. org/cpaj ournal/2004/1004/essentials/p30. htm How to cite Client Understanding Paper, Papers Client Understanding Paper Free Essays Client Understanding Paper ACC/541 April 01, 2013 Abstract As a newly hired Staff I there will be a responsibility to analyze the work papers for the organization’s clients. In this situation a client is not clear about why a Staff I is asking for information on adjusting lower of cost or market inventory valuation, capitalizing interest on building construction, recording gain or loss on asset disposal, and adjusting goodwill for impairment and requires explanations on these topics. An explanation of each is provided to include sources from accounting websites, Generally Accepted Accounting Principles (GAAP), and accounting pronouncements. We will write a custom essay sample on Client Understanding Paper or any similar topic only for you Order Now In addition to the explanation for each accounting practice there is also an explanation of the impact it will have on the financial statements and examples of calculations to aid with real-world application. Client Understanding Paper When beginning a job in the accounting field it is likely that the newly hired staff will be responsible for analyzing the documentation of clients within the organization. If a client becomes confused why certain documents are required to be analyzed explanations will need to be provided to the client for his or her understanding. Within this paper is an explanation of some of the topics a newly hired accountant may encounter when working with clients. These topics cover adjusting lower of cost or market inventory on valuation, capitalizing interest on building construction, recording gain or loss on asset disposal, and adjusting goodwill for impairment. Adjusting Lower of Cost or Market Inventory on Valuation A requirement of Generally Accepted Accounting Principles (GAAP) is that inventory is recorded at the lower of cost or the market value and is known as Lower of Cost and Market (LCM). This pronouncement is covered under Accounting Research Bulletin No. 43 (ARB). The need for LCM typically occurs because the inventory has become obsolete, it has deteriorated, or the market prices have declined for the inventory. When using LCM inventory cannot be reported higher than the net realizable value less expenses known as ceiling and cannot be reported lower than the net realizable value plus normally attainable profit known as the floor (Investopedia, 2013). Net realizable value (NRV) is defined by AccountingCoach (2013) as â€Å"the expected selling price in the ordinary course of business minus the cost necessary for completion and disposal† (para. 08). NRV is considered to be a main component when determining market value. The definition of market found in the term â€Å"lower of cost or market† is considered to be the cost upon replacement. However, as mentioned above the market amount must fall between the market ceiling and floor. For example, if the replacement cost is in the middle of the ceiling and floor that figure will be the market cost. If the cost is above ceiling, the ceiling will be the market value, and if the replacement cost is below the floor, the floor amount will become the market value. Once LCM is determined GAAP permits it to be applied in three ways: inventory total basis, item by item basis, or inventory categories basis. Inventory total basis will yield the smallest loss on the income statement and smallest reduction of cost to inventory, and the loss is reported in the accounting period when the loss took place. Item by item basis is the opposite of inventory total basis because it results in the largest loss reported on the income statement and largest reduction of cost to the inventory. Item by item basis is also reported in the accounting period when the loss took place. Inventory category basis settles in the middle of inventory total basis and item by item basis, and reports loss on the income statement when the market value drops below cost (AccountingCoach, LLC. , 2013). Capitalizing Interest on Building Construction There is an inquiry for capitalizing interesting on building construction because the interest created from the debt for the assets construction is added to the cost of the construction instead of expensing on the income statement of the current period. According to, the Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards (SFAS) No. 34, Capitalization of Interest Cost the interest will be added to the construction cost and reported on the balance sheet. It eventually will be reported on the income statement but will show as part of the assets depreciation expense. The ability to capitalize on the interest ends upon completion of the assets creation and does not include minor modifications. For example, if multiple pieces of equipment are in construction and after each is completed it is prior to the completion of others then the interest may be capitalized on each individual unit upon completion. Recording Gain or Loss on Asset Disposal Under GAAP when a company disposes of a long-term asset at a cost different from the book value of the asset the difference will require an adjustment to net income on the cash flow statement. The difference between the disposal price and book value is considered either a gain or loss. For example, if a vehicle has a cost of $20,000 less accumulated depreciation of $17,000 the book value will be the difference equating to $3,000. If the vehicle is disposed of for $3,500 the difference between the book value and disposal amount equates to $500. This $500 is recognized as a gain on the sale of the asset and increases net income. Using the same example if the asset sold for $2,000 a loss of $1,000 would be recognized on the asset resulting in a reduction of net income. In the operating section of the cash flow statement any gain recognized will need to be deducted and any loss will need to be added. These additions and deductions must occur to avoid double counting because a requirement of asset disposal is that the proceeds recognized from the sale must be reported in the investing activities section of the cash flow statement that directly follows the operating activities section. If no loss or gain occurs because there are no proceeds and the asset has been fully depreciated a debit will be made to accumulated depreciation, and a credit will be made to fixed assets. Adjusting Goodwill for Impairment When a company purchases an intangible asset for more than the assets book value then goodwill impairment occurs. The difference between the purchase price of the asset and the book value is the goodwill and will require an adjustment. For example, if ABC Insurance is sold for $10 million to Progressive Insurance but only has a book value of $8 million then the difference of $2 million is considered goodwill and is reported as an asset on Progressive’s balance sheet. If after the sale occurs Progressive decides to remove all of ABC Insurance’s local offices and designates them as an online company only resulting in a loss in sales of 50% this may result in a drop in fair market value to $5 million. The drop in fair market value will require Progressive to make a goodwill impairment. Progressive will combine the current market value of $5 million to the goodwill of $2 million comparing the total of $7 million to the purchase price of $10 million. The difference created of $3 million must be reflected in the books by reducing goodwill by $3 million. Recording goodwill impairments is important because it can represent a large portion of a company’s net worth. If these changes are not reported the net worth can seem overinflated and mislead investors. This very reason is why companies are required to have their goodwill tested annually, comparing the actual value of the assets in question to their recorded value and adjusting for the difference every year (InvestingAnswers Inc. 2013). In summary, clients may have limited accounting background and may require explanations of accounting terms and documentation, accounting authority, accounting procedures, and the purpose and impact of certain accounting practices. Explained within this paper is a brief overview regarding common accounting practices, such as LCM to include NRV, how to apply LCM, and the impact it will have on the financial statements. Also included is when and what interest can be capitalized on building construction, how to record gain or loss on the disposal of an asset, a definition of goodwill, and how and why it must be adjusted if there is an impairment. References AccountingCoach, LLC.. (2013). Lower of Cost or Market. Retrieved from http://www. accountingcoach. com/online-accounting-course/27Xpg01. html InvestingAnswers, Inc.. (2013). Goodwill Impairment. Retrieved from http://www. investinganswers. com/financial-dictionary/financial-statement-anal How to cite Client Understanding Paper, Papers

Management Aspects Essay Sample free essay sample

Maestro Prints is to supply a quality prints and designs that will convey client a comfy experience have oning alone designs. sing quality service and portrays the whole individual uniqueness. As to supply client with good relationship and first-class service and quality prints were they can make their ain designs-prints-wear. Most particularly. in presenting the true value and satisfaction and meeting clients delight. Mission â€Å"To supply a quality prints and lay-outs that may convey enjoyment. felicity and comfort to our clients. † Vision â€Å"To go a good known printing store and will offer quality merchandises and a profitable concern by supplying first-class service. Exceed the competitory printing in the market and spread out the concern outside parts. † Goals/ObjectivesSelling Aspect * To be able advance the merchandise in a good manner that can perforate to the market. * To pull more clients within half month of its operation. * To guarantee that the advertizements will non merely profit the company but besides to the clients that will purchase and utilize the merchandise. We will write a custom essay sample on Management Aspects Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Operation/Production * To increase concern profitableness.* To increase profitableness to a given period. Administrative * To supply cost effectual client service* To efficaciously advance the company’s vision mission to the employees to hold occupation satisfaction and motive Fiscal Aspect * To hold a written records of the company concern histories. * To be able to calculate the supply and demands of the merchandises. * To guarantee that the concern is profitable and operational. Forms of Ownership In set uping our concern. we choose to organize partnership which is trading because our concern organisation formed with the aim of marketing ware we purchased or selling of merchandises we manufactured. Each of us contributed services. such as looking for topographic point where to set up our concern. canvass monetary values and carry oning study and interview to the people if our merchandises will thrive. The concern will be created by a contract of a partnership of five individuals viz. : Kriziah Marie Lauta. Pamela Ann Ysulan. Genelyn Cordova. Roselle del Rio and Gladys Jane Bacarro who agreed to lend money to raise financess. Each will lend Php 600. 000 for a entire capital of Php3. 000. 000. All agreed to hold equal sharing in the division of net incomes ensuing to 20 % each among persons. The concern is a sort of general partnership in which all spouses are apt for all debts beyond personal parts. Partners will hold common apprehension and brotherhood in exerting authorizatio n. One of the spouses is besides portion of concern operations and will hold designated places. as a director. Organizational StructureGross saless Forces( 1 ) Teller( 1 )General PartnersLay-out/ Graphic Interior designers( 2 )Technicians/ Equipment Operators BookkeeperShop Director Job Descriptions Shop Director The director is one who plans. oversee staff. and coordinates activities. S/he is the 1 who regulates policies and pull off the day-to-day operations by supervising the people involved in the concern. Technicians/ Equipment Operators Technicians/ equipment operators are the 1s who operate printing equipment and are responsible for merchandise printing. They make certain that right merchandises are printed with matching designs accurately. They must besides familiarise the equipments that their utilizing an learn how to mend and keep the stable conditions of the machine. They are besides responsible for the stores care and cleanliness. The direction decides to hold two operators Lay-out/ Graphic Interior designers The lay-out/ in writing interior decorators normally make designs that involved working with clients on manners and tendencies. doing unsmooth designs pulling by custodies or utilizing a computing machine. doing samples to show their thoughts. and carry oning quality cheques on their plants to guarantee that these suits clients penchants. The store will hold two lay-out/ in writing interior decorators. Teller Cashier normally received payment by hard currency. cheque. recognition cards. verifiers or automatic debit. Then. issues receipt. refunds. recognition or charges to clients. . the tellers has the duty to procure hard currency and avoid any deficits. Besides. keep the cashier station clean and orderly. The direction decides to hold on teller. Gross saless Forces The gross revenues forces have good communicating and listening accomplishments. as front line drive s/he must be able to construct dealingss with clients. have a professional visual aspect. good dialogue accomplishments and the ability to work toward gross revenues ends and marks. S/he can negociate on footings and monetary value. so they must come to an agreement with a client efficaciously. Bookkeeper The bookkeeper assures and keeps fiscal records and prepares hard currency. verifiers. and junior-grade hard currency. S/he is the 1 responsible in pull offing and managing budget. Make certain that the hard currency expenses and influxs are documented. Another undertaking of the bookkeeper is to do fiscal statements that would reflect the public presentation of the concern on a just footing. Job SpecificationsDirectorThe place will be filled by one of the spouses. Technicians/ Equipment Operators* Male* At least a vocational alumnus* At least 1 yr. of experience related to the occupation* Must be a computing machine literate* Must be efficient on occupation given* Fast scholar and productive* Can make multitasking Lay-out/ Graphic Designer* Male or female* Graduate of grade in Graphics and Humanistic disciplines or related field Besides. unfastened to two old ages in writing or commercial humanistic disciplines. and at least a vocational classs related field ; or. any tantamount combination f experience and/or instruction from which comparable cognition. accomplishments and abilities have been achieved * Has an expertness on lay-out and in writing designing * Must be computing machine literate* Good in computing machine graphic applications* Good in communications accomplishments and client service Teller* Female* At least high school alumnus or any vocational classs with has computing machine literacy* Must have mathematical and analytical accomplishments* Loyal and trustworthy Gross saless Forces* High school sheepskin* Certification* Have a good communicating accomplishments Bookkeeper* Male or female* Post-graduate of Business and Accountancy* With 2 old ages experience of clerking Forces PlanMan power demands: Manager. Technicians/ Equipment Operators. Lay-out/Graphic Designer. Cashier. Gross saless forces. Bookkeeper Position| No. of Units| Corporation| Director* Technicians/ Equipment Operators* Lay-out/Graphic Interior designer * Cashier* Gross saless forces* Bookkeper Human body Pres Company Rules and policiesHours of work ( 8 hours )* An employee demands to render 8 hours of service at the printing store 7 yearss a hebdomad.* A portion clip employee demands to render merely 4 hours of service 7 yearss a hebdomad. Benefits harmonizing to Law* Wages rates – each employee will be given P275 pay rate per twenty-four hours * SSS – was created to supply protection for the its member against socially recognized jeopardy conditions. such as illness. disablement. pregnancy. old age and decease. or other such eventualities non stated but resulted in loss of income or consequences to a fiscal load. * Phil Health – is designed to supply employees with a practical agency of paying for equal medical attention in the Philippines. * 13th month fillip – as mandated by the Presidential Decree No. 851. the employee shall have a fillip salary equivalent to one ( 1 ) month. regardless of the nature of his/her employment. non subsequently than December 24 of every twelvemonth. * Retirement – the hereafter of our employees is every bit of import to us. This is why we offer our employees a retirement program where. every month. we contribute an sum equivalent to a per centum of our employees’ monthly wages.