Integrity, Robustness And Effectiveness Of The Different...

Summary The simulation done in this module helped us to understand the integrity, robustness and effectiveness of the different processes in an organization. The aim of every organization is to create products and/or services to sell and/or deliver them to recognize profit. How well we marshal the resources, with a soul motive to meet and satisfy customer requirements, decides the success credibility of the organisation over the respective competitors. Operation functions ranging from the core to the support functions are a part of the single sphere of operations management. The simulation provided us with immense understanding on how to manage different process flow in a production unit. A remembrance of the touch points, avoiding†¦show more content†¦The tool helped us get a structured understanding of the process and what it involved before going forward and executing the process. How we used SIPOC:- †¢ Information regarding the simulation was understood by all the team members. †¢ Outputs were defined. The simulation required 3 successfully working products namely Standard, Premier and Dual. †¢ Triggering the inputs to our process. Our simulation required a new product to be delivered every 30 seconds. †¢ Supplies were recorded. Our simulation had one person responsible for managing the supplies. †¢ Activities were defined. They were performed to convert our inputs (Supplies) to outputs (final product). †¢ Customer accepting the final product up to satisfaction. Process mapping and Product Line Layout Process mapping describes the relation of the individual activities within our process and how they must be carried out.This provides valuable information about a process to help management find ways to make the process even better.The mapping provided clear and straightforward data that can be easily interpreted. With this approach I feel the staff can vent out their frustration and become comfortable with providing candid information in their work processes. A layout describes how the resources will flow and progress through an operation. It is a critical featureinvolving positioning ofequipmentthat transformresources to

Analysis Of William Shakespeare s Hamlet - 1385 Words

One of the three major themes of William Shakespeare’s Hamlet is that of the gulf between what appears to be and what something is in reality: in other words, to distinguish between what is fake interpretation from what they truly are. There is a degree of deceit, lies, deception cloaked by a perception of honesty within the play; we will refer to this concept as â€Å"the mask.† The theme of perception vs reality is so woodenly interlaced into the play due to the idea that most of the central characters in the play hide behind the mask to conceal their true intentions whilst struggling to learn the intentions inner thoughts of other characters. The article â€Å"How Our Perceptions Shape Our Reality,† written by Morty Lefkoe, mentions: â€Å"We†¦show more content†¦Although all of us exist in the same world, people have the tendency to focus on what we have â€Å"tuned† to seek. Morty Lefkoe, the creator of the Lefkoe Method and author of th e article â€Å"How Our Perceptions Shape Our Reality,† evaluates this idea. Lefkoe states: â€Å"We swear things exist because we distinguish them through our particular perceptual apparatus through our language. Change those you dramatically change the world you think is ‘out there’† (Lefkoe 5). In a sense, we all see the same world by the same means, but it is how we individually see the world that differentiates from what is real to some and not for others. Henceforth, perception shapes our reality in total extent. Without being able to perceive, distinguish everything that exists from one another with the use of our senses and language, our lives would be accurately simulated by a state of narcosis; we would all be in deep sleep without any dreams to experience. However, despite social, political, and religious forces constantly forging our behavior and views, dictating our every action, there is still room for personal logic to purge these nurtured preconceptions. In the way that hallucinogens and other various drugs alter our perceived notions of the world via manipulating our frame of mind, adjustments in our depth of field can have equally strong

Reversal Of Impairment Loss For Cash Generating Units †Free Samples

Question: Discuss about the Reversal Of Impairment Loss For Cash Generating Units. Answer: Reversal Of Impairment Loss For Cash Generating Units AASB 136 and IAS 36 deals with the procedures which are being applied to make sure that assets are not shown at higher value in comparison to its recoverable value. The specified standard specifically provides procedure relating to impairment on all intangible and tangible assets other than those which are covered under other IFRS. Present essay revolves around the analysis of Reversal of accounted impairment loss for CGU and accounting for same. An impairment loss can be define as written down value of an asset or a CGU because shown value is higher than its recoverable amount (Johansson, Hjelstrm and Hellman, 2016.). As according to the provisions of the standard no asset should be carried at a value which is higher than its recoverable amount or fair value. Further, for accomplishing the same objective, it has been provided with the scope of potential indicators for assessing whether impairment loss exists or not. Above description shows that CGU is impaired in case the carried value is higher in comparison to recoverable amount then computation of recoverable amount is done by making comparison of fair value less cost relating to selling and value in use, in this higher value is considered for accounting. The loss which has been recognised as expenses is transferred to profit and loss account (Henderson and et.al. 2015). Further, the standard also specifies the provisions when entities are required to make a reversal of impairment loss and the manner of recognising the same in books of accounts. IAS 36 provides that reversal of impairment in the case of CGU is to be reversed by appropriately proportioning the amount in no. of assets which have been covered by making use of pro rata basis and applying it on carrying amounts of concerned assets. However, goodwill is not be included while reversal of impairment loss of Cash Generating Unit. The reversal amount is allocated to the written down value of asset available in the balance sheet (Edwards, 2013). It should not be increased higher in comparison to the lower of its carrying amount and recoverable amount. The specified amount must be provided after reducing depreciation or amortisation which might have been recognised in the case where there has no recognition of impairment loss inprior periods. It is also provided in the standard that it is necessary for the entire organisation to apply the test in order to assess the same and it should be assessed at each reporting date. For verifying the same, it is necessary to consider internal as well as external components which are considered necessary by the management (Johansson, Hjelstr, and Hellman, 2016.). Provisions relating to disclosure of reversal of impairment loss have been made available in paragraph 130 of AASB 136. As per the provision specified in Australian accounting standards reversal of impairment loss in case of a CGU is recorded in books of accounts on an instant basis in profit or loss statement. Thus the provisioning of same is not required in case when the book value of the asset is revalued in accordance with the provision of IAS 36. As per the views of Detzen, Stork and Zlch (2016), in the case when the value of the asset is increased at the year end than the reversal is required to be considered as a revaluation increase and accounted as per provision of IAS 36. Further after revising the written down value of asset, depreciation or amortisation is charged for future periods in accordance with the allocation revised carrying amount from which residual value is deducted on a reasonable base for the remaining life of the asset. A CGU is the least distinguishable group of assets which is capable for generation of cas inflows that are specifically dependent on assets or group of assets (Bond, Govendir and Wells, 2016.). AASB 136 states recoverable amount as higher of recongnised value of cash-generating and units fair value. It is not compulsory to determine both value in use and fair value less cost relating to selling. In case the either amount of both is higher than assets carrying amount that it is clear that the impairment of asset is not required. Further, it is necessary to ascertain fair value less cost of sale even in case the asset is not actively traded in the market. In a situation when no basis is available to evaluate the value of the asset on a reasonable basis from the sale of an asset by considering its arm length price in market then it is more appropriate to consider the recoverable value of the asset. As per the views of Amiraslani, Iatridis and Pope, (2013), in a situation when there is n o reason to have confidence in fact that assets value in use is substantially higher in comparison to fair value less cost relating to selling than the same might be used as the recoverable amount. It is usually considered in the case when assets are being disposed of because at that time asset will mainly consist net proceeds from disposal as future cash flows that will be derived from continuing use of asset until the amount is same as negligible value. Usually, impairment of assets is done on the individual basis in accordance with the provisions of IAS 36 (Bartov, Goldberg and Kim, 2013). However, in case the recoverable amount of assets cannot be ascertained for each individual asset than in such situation an organisation opts to value the carrying value of the cash-generating unit to which the asset belongs. As it considered that computation of the recoverable amount of each individual asset is not appropriate and hence, ascertainment of the recoverable amount of the CGU to which that particular asset belong. Further, the following aspects are to be considered while impairment testing of CGU by every organisation: Consideration of cash flows in detail and reassessing the same; Evaluation of impairment indicators. Ascertainment of the discount rates; Benchmarking the assumptions with the market. Journal entry for recording impairment loss: In case of cost, model is applied Particular Amount Accumulated depreciation impairment losses Dr. XXX Income - impairment loss reversal Cr. XXX In case revaluation model is applied Asset Dr. XXX Deferred tax liability Cr. XXX Asset revaluation surplus Cr. XXX Calculation of Impairment Loss: Carried Value of Balance Sheet 677000 Value in Use of assets 608000 Impairment loss 69000 Allocable Impairment loss to assets: Total impairment loss - Amount of Goodwill Impairment loss allocable to patent = 69000-23000- (455000-438283) = 29283 Allocation of impairment loss to assets in proportionate to their book value: Asset Value in Use Calculation Allocable Impairment loss Amount to be carried in Balance Sheet Equipment 105000 29283*105000/199000 15451 89549 Fitting 66000 29283*66000/199000 9712 56288 Inventory 28000 29283*28000/199000 4120 18880 Patent 455000 16717 438283 Journal Entry in the books of Gali Ltd: 30.06.2015 Impairment loss Dr. 69000 Goodwill Cr. 23000 Patent Cr. 16717 Accumulated amortisation and Impairment Losses (Equipment) Cr. 15451 Accumulated amortisation and Impairment Losses (Fittings) Cr. 9712 Accumulated amortisation and Impairment Losses (Inventory) Cr. 4120 [Being impairment loss attributed to assets on pro-rata basis except patent and goodwill.] Impairment Account Date Particular Amount Date Particular Amount 30.06.2015 Accumulated Impairment Loss A/c 69000 30.06.2015 Profit and Loss Account A/c 69000 Provision of IAS 36 will be applicable in the present case for the allocation of impairment loss to the available assets. In accordance with the study of Abuaddous, Hanefah and Laili (2014), the provisions impairment loss is initially adjusted with the amount available in Goodwill account and further to the extent to which loss has been provided to a specific asset. Finally, the remaining amount of impairment loss is being proportionate to the book value of remaining assets. Another thing that is to be considered is that no impairment loss is adjusted in cash account. As in present scenario; firstly the impairment loss will be set off with the amount of goodwill i.e. 23000 then the remaining amount will be allocated proportionately to remaining assets except cash. Further, as the fair value of a patent is available in the question, hence the impairment loss of patent will be the difference between book value and fair value. References Books and Journal Abuaddous, M., Hanefah, M.M. and Laili, N.H., 2014. Accounting standards, goodwill impairment and earnings management in Malaysia. International Journal of Economics and Finance. 6(12). P.201. Amiraslani, H., Iatridis, G.E. and Pope, P.F., 2013. Accounting for asset impairment: a test for IFRS compliance across Europe. Centre for Financial Analysis and Reporting Research (CeFARR). Bartov, E., Goldberg, S.R. and Kim, M., 2013. Comparative value relevance among German, US, and international accounting standards: A German stock market perspective. Journal of Accounting, Auditing Finance. 20(2),Pp.95-119. Bond, D., Govendir, B. and Wells, P., 2016. An evaluation of asset impairment decisions by Australian firms and whether this was impacted by AASB 136. Detzen and et.al. 2016. Impairment of Goodwill and Deferred Taxes Under IFRS. Australian Accounting Review, 26(3),Pp.301-311. Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting) (Vol. 29). Routledge. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU. Johansson, S.E., Hjelstrm, T. and Hellman, N., 2016. Accounting for goodwill under IFRS: A critical analysis. Journal of International Accounting, Auditing and Taxation, 27, Pp.13-25.

Willy Essays - Death Of A Salesman, English-language Films, Biff

Willy Loman Character It is every father's dream for their children to grow up and lead a better life than they did and provide for their family better. Willy Loman was no exception to the rule, because he wanted the best for his children from a very young age, especially for his promising son Biff. Biff was loaded with potential as a boy in high school, and Willy recognized it and promoted it more than he needed to. Although Biff sees his life as not a complete failure, his monstrous adolescent potential transformed into years of failure, and blame for this must be put on the shoulders of his father. As the old adage goes, "like father like son." This could be attached to the relationship between Willy and Biff but some would contend that it would be taking a lot away from Willy. While many of his tactics on raising his children were skewed, it is conceivable to say that he worked as hard as he could to provide for his family. He was never afraid of work. No matter how terrible he was at it he was always able to convince himself he was good, which helped him earn the money his family needed. Of all the terrible things, though, that Biff took from his father hard work was not one of them. Hard work is something that Biff can never say he was a part of. He always looked for the easy way out and when he found it he took it. People will contend that Biff is not a failure only because Willy messed up raising him. They would say that Willy may not have been the best father but it was Biff who made the decisions that ruined his own life. Decisions that Willy had no control over. Is that really true though? Willy had a complete influence on those decisions because the only ways in life Biff knew were the ones that he was shown growing up by his father. As a star football player in high school, Biff had it all. As Happy unmistakably said, "he has a group of girl's following him everywhere, now that he's captain." Growing up Biff idolized his father, and the attention was returned from Willy to him. Willy saw his son as a child who could do no wrong. Willy pushed him to have a "conquer the world" attitude which he thought would push him to success. It was a selfish action though because Willy wanted Biff to succeed only so he could feel as though he had done a good job raising him. Unbridled potential like Biff had, sometimes needs to be allowed to develop on its own and not be prodded and urged the way Willy did. Obviously Biff did not respond to the pressure and stress that Willy put him under at a young age so his talents and ability were wasted throughout his whole life. Willy's downfall as a parent was not that he wasn't interested or involved in his son's life, but rather his neglect to see what Biff needed from his father. From his youth as well, Biff was influenced by Willy regarding illegalities such as stealing and lying. Willy felt as though Biff should, and could, make his own rules for life. When he stole a football from the team he was praised rather than scolded by his father. Willy thought, "coach will probably congratulate you on your initiative." He let Biff drive without a license as well as encouraging him to steal from a nearby construction site. Willy was ignorant to that fact that Biff was a different person than he was. Willy was so caught up in the fact that his set of morals (or lack there of) was successful that he preached them to Biff, where in fact the only reason Willy saw them as successful was because he was so optimistic/unrealistic in looking at his own life. As a result of incident like these Biff never learned right from wrong, which haunted him later in life. Biff spoke so beautifully and eloquently about the Dakotas and Texas, that it seemed as though those were places he could succeed in and spend the rest of his life in prosperity. However, he was not able to hold down jobs in those areas because of stealing incidents. Had steeling been discouraged or even not been promoted in his life from an early age he might have been able to settle down in an