Essay --

Under U.S. GAAP, entities can generally recognize revenue when it is realized or realizable and earned. 1. Revenue can be recognized when it is realized or realizable. For revenue to be realized, a company must receive cash or claims to cash in exchange of goods, services, or other assets. Similarly, for revenue to be realizable, the firm’s goods, services, or other assets must be exchanged for other assets that are â€Å"readily convertible to known amounts of cash or claims to cash† (605-10-25-1). This means that the entity’s assets were not exchanged for cash or claims to cash, but instead, for another company’s assets, such as short-term investments and government securities. 2. Revenue can be recognized when earned. Entities can earn revenue if the firm has â€Å"substantially accomplished what it must do to be entitled to the benefits represented by the revenues† (605-10-25-1). For example, when companies substantially completed (a) provision of professional services, (b) delivery or production of goods, or (c) other activities that constitute its ongoing major or central operations, revenues is earned. Issue 2 (â€Å"Bill and Hold†) Question: One of the issues faced by TerraSure relates to revenue recognition of finished goods that have not yet been delivered to customers due to inadequate storage space in customer’s warehouses. TerraSure has engaged in two different methods to deal with this situation. With the first method, TerraSure segregates the inventory within its own finished goods warehouse. In the second method, TerraSure ships customer’s inventory to a third party warehouse, where customers directly pick up their inventory. Background: Regarding â€Å"bill and hold† inventory, the SEC Staff Guidance states that these ... ...ordance with the terms of the arrangement, has been delivered or is available for immediate and unconditional delivery. 3. The license period of the arrangement has begun and the customer can begin its exploitation, exhibition, or sale. 4. The arrangement fee is fixed or determinable. 5. Collection of the arrangement fee is reasonably assured (926-602-25-1) Responses: Since TerraSure does not allow its customers to show the films until after its promotional activities begin, it cannot recognize revenue at the point of sale. To correctly recognize revenue for the film licensing contracts, customer must have all rights to exploit, exhibit, or sale (926-602-25-10). Even though the film is delivered to the customer, TerraSure must recognize revenue from licensing agreements not at the point of sale, but after the marketing department begin its promotional activities.

“I’m a fool” by Sherwood Anderson Essay

Everyone has morals. The usual ones are: Don’t lie, cheat, or steal. The swipe in â€Å"I’m a fool† by Sherwood Anderson does not seem to possess these morals throughout the story, although he does seem to feel remorseful at the end of the story. He lies, cheats, and steals, though not in a way most consider normal. In â€Å"I’m a fool† the swipe lies. He lies about who he is, where he is from, and what he does. He tells Miss Elinor Woodbury, Mr. Wilbur Wessen, and Miss Lucy Wessen that he was â€Å"Walter Mathers for Marietta, Ohio,† and that his â€Å"father owned the horse About Ben Ahem,† and that his father â€Å"had let him out to this Bob French for racing purposes, because our family was proud and had never gone into racing that way, in our own way, I mean, and Miss Lucy Wessen’s eyes were shining.† He then went on to tell her about his â€Å"place† down in Marietta, and â€Å"about the big stables and the grand big house,† He had on the hill above the Ohio River. He justifies this by saying that he knew enough not to brag and to make it seem like they were pulling it out of him instead of him telling them. He cheats by using his lie that he is Walter Mathers, son of the owner of About Ben Ahem. He tells them that About Ben Ahem â€Å"would lose the first heat by pacing like a lame cow and then he would come back and skin ’em alive after that,† like he had seen it happen before. The swipe backs this up by having Mr. Wilbur Wessen place thirty dollars of his (the swipe’s) money on About Ben Ahem for the best odds that he could get after the first heat. The swipe is a thief because he stills another mans identity. â€Å"There ain’t any Walter Mathers, like I said to her and them, and there hasn’t ever been one, but if there was, I bet I’d go down to Marietta, Ohio, and shoot him tomorrow.† This constitutes a murderous attitude just to cover for himself. At the end of the story the swipe doesn’t tell Miss Lucy, Mr. Wilbur, or Miss Woodbury that he isn’t who he says he is, he doesn’t come clean with how he knew About Ben Ahem would win, or where he is from, even after Miss Lucy says that she would write to him because â€Å"She whispered and said it was like she and I could get out of the boat and walk on water.† So even though the  swipe is remorseful at the end of the story and says â€Å"I’ll quit working an be a bum and give him my job. I don’t care nothing for working, and earning money, and saving it for no such fool as myself,† he is still a liar, a cheat, and a thief.

Ballet Performance

Last time i visited ballet performance and saw twelve pieces, though I liked the most â€Å"Swan Lake Act II†, â€Å"Swan Lake PDD† and â€Å"Tchai Celebration†. Actually, it was Tchaikovsky spectacular and I am sure that he is one of the most highly talented composers of all times. His music is great and impressionable as it aims at enriching viewers and listeners spiritually, at showing them amazing world of art and music. As for me, only classical music helps people to appreciate art and become visitor of theatre.Speaking about my feelings, I was really impressed and enchanted by the performance and music, especially by the parts of Odette and Siegfried from the â€Å"Swan Lake†. And even tears of delight were shining brightly on my eyes. I can say that I have become really interested in classical music and in future I’ll visit the theatre as often as possible. Classical music is aurally comfortable and makes people relax and enjoy the performanc e. Baler performances consisted of solos, twosomes and threesomes, but the stage always looked as if it was filled with man dancers.The costumes were also wonderful: colored tunics and unitards, flowing skirts and pointe. Thus, the costumes varied from the casual clothes to unique and original solution to intensify the impression and to create the necessary atmosphere. The dominated colors were bright and pastels to highlight the particular charm of all actors. I liked the most black and gold classical jackets and tunics because they symbolize importance of life and significance of love in our lives.It is necessary to note that â€Å"Swan Lake† was performed in minimalist style meaning that only dark clothes were dominating on the stage. The dancers seemed to be obsessed with iconic style and standards of ballet. The performance was excellent and it is rather difficult to admit any mistakes because every arm and head of any swan was place precisely and the importance of the m oment was skillfully emphasized. If to use ballet terms, arabesque legs were solidly held as the result of long-lasting rehearsal. Therefore, a careful directing eye was observed throughout the ballet performance.The rare exceptions mentioned were not fully stretched legs and rather shallow pas de chat. I was really impressed when the three leading swans flashed rather synchronized across the stage and everybody said that every company might be proud of such professionalism. Odette and Siegfried were noteworthy. I can’t say that Odette looked fragile and delicate. Instead, i liked idea to show Odette as a Queen who protected her flock from danger. The dance was accompanied by natural mime and that was impressionable.The arms of the swans were undulating beautifully and I’d like to assume that swans showed skillfully Odette’s transformation from swan to woman and vice verse. I also liked â€Å"Black Swan PDD†, especially their exacting choreography. The da ncers seemed to be compact, though they were filled with energy assisting each other. I became anxious when one of the dancers began to tip in multiple pirouettes, but I was pleased to see the he remained unrattled. Abilities to fix the problem and to keep the balance are inherent only to professional and mature dancer.I liked the famous fouettes in the centre of the stage and the turning, every fourth one a double, looked amazing and fabulous. Both dancers provided admirable performance for the viewers. â€Å"Tchai Celebration† is, actually, twelve piano pieces to â€Å"The Seaasons† and baler, therefore, represented months of the year. Composition of the ballet is rather inventive and is sourced in the music. The choreography was for the dancers who relished it meaning they responded with appreciation and real energy making viewers becoming involved in the world of music more and more.The dancers seemed to explore together music and space. For example, â€Å"Juneâ⠂¬  was as wonderful and marvelous as any i have seen on the theatre stage. The performance was very difficult, though never falsely contrived, and a toss, lifts and a catch were smooth to respond to music. I strongly recommend visiting the ballet performance because it remains lots of wonderful emotions and feelings. References Bai, Anjuli. (2007, April 2). Tchaikovsky Spectacular. Retrieved May 17, 2007, from http://www. cityballet. org/performances/tchaikovsky_review_3. html

Explore the Relation Between Othello and Desdemona

Furthermore, the tragedy of the play is Othello hubris forcing him to murder his wife – the action which proves his Inability to Integrate with Venetian society. Shakespeare presents the relationship between Desman and Othello in a deeply Immersed way by defining it both in terms of their personal interaction, and the reaction and interference of the characters in the play. Most importantly, the antagonist of the play, Ago, uses Adhesion's â€Å"goodness† as the net to â€Å"enmesh† Othello, In addition to his other victims Including Cassia and Ordering. Gags Machiavellian plot to be evened with Othello, â€Å"wife for wife† depends heavily on his ability to destroy his marriage – thus confirming the importance of Desman. The status of Desman and Toothless relationship as a major point of conflict is clear from the very beginning of the play – where Ago and Ordering attempt to â€Å"poison the delight† of Abrogation by revealing that D esman had secretly married Othello. In terms of context, the concept of marriage without parental consent was taboo in Jacobean society, and would've been controversial even in Venetian society – which was considered much more relaxed than Jacobean Britain.It Is also Interesting to note the use of the word â€Å"poison†, which Is a strong theme throughout the play -? ND foreshadows Toothless eventual request that Ago â€Å"get me some poison† in order to murder Desman. Foreshadowing is further utilizes by Shakespeare in Act II Scene l, where he has Barbarian warn Othello to â€Å"look to her Moor, she has deceived her Father and may thee†. This effect Is heightened by Toothless claim that he places â€Å"my life upon her faith†, a moment of great irony which perfectly complements the claim that ‘in losing [Desman], he loses himself.It is important to note the great trust Othello places in Desman In this scene and how it coincides with his non event, eloquent speech which prompts the Duke to acknowledge â€Å"this tale would win my daughter too†. The poetic blank verse which Othello speaks, and has led some critics such as A C Bradley to describe him as â€Å"the most romantic among Shakespearean heroes† is in stark contrast to the clumsy, monosyllabic prose which he speaks later In the play – by which point his confidence In Desman, and therefore himself, has been destroyed by Ago.There is some element of truth in Othello claim that he â€Å"loved too well† and it is this resolute nature which ultimately dooms him. His rashness, which would have been praised as decisiveness on the battlefield, forces him to dismiss Cassia perhaps too swiftly – and place too much trust in â€Å"honest Ago', whose role as â€Å"ensign† should be confined to military affairs – not his general's private life. It could also be argued that Othello was doomed by his race, in the words of Anta Lo mb the inflict of the play derives from â€Å"the threat of a black man and a white woman† to the â€Å"patriarchal† Venetian society.The racist semantic field used in the opening scene, â€Å"thick lips†, â€Å"old black ram† and simply â€Å"the moor† sets a precedent for the rest of the play, and Othello final speech where he acknowledges he is an outsider, â€Å"circumcised dog† is evidence that Lagos manipulation has forced him to question himself and become the stereotype Ago depicted him as. Ultimately, the relationship of Desman and Othello is integral to the play, and Othello descent into barbarism is facilitated by his loss of faith in Desman.Othello himself placed his â€Å"life upon her faith† – and as a resolute man he was left with no choice but to destroy himself when he felt she had betrayed him. Lagos malignant, calculating intelligence led him to the conclusion that the moor he hated could be destroyed by his love for his wife – Just as Ordering could be destroyed by his lust, and Cassia by his arrogant, flirtatious nature. Lagos ability to detect the weaknesses of those around him is the characteristic which defines the tragedy of ‘Othello', and thus the knowledge that Desman is Vital to her Husband' allowed him to exact his Machiavellian plot with tragic consequences.

Banking law Essay Example | Topics and Well Written Essays - 2000 words - 1

Banking law - Essay Example For example in Barclays Bank Plc v O’Brien the House of Lords ruled that when the burden shifts to the stronger party to prove that there was no undue influence, the burden can be discharged by proof that the weaker party voluntarily entered into the agreement or the transaction and this can be proven by showing that the weaker party had the benefit of independent legal advice.7 It has been subsequently ruled that where undue influence is presumed, the bank’s security will stand on whether or not the surety had the benefit of independent legal advice.8 It was not altogether clear whether banks had a duty to ensure that vulnerable sureties sought independent legal advice. The courts had merely stated that the burden of proof could be discharged by showing that the vulnerable surety had voluntarily entered into the transaction and this could be shown by proof that the vulnerable surety had the benefit of independent legal advice. The matter was more clearly stated by the House of Lords in Royal Bank of Scotland v Etridge (no.2). In Royal Bank of Scotland v Etridge, the House of Lords ruled that the bank is required to take all reasonable steps to ensure that the vulnerable surety was appropriately apprised of the transaction and what this means is that the bank would require that the vulnerable surety had the benefit of independent legal advice.9 Further guidance was provided by the House of Lords in National Westminster Bank v Amin. In the case, the bank applied to the court for the defendant’s defence of undue influence on the part of her son who was a business man. In this case, the bank had previously required that their solicitors clarify and explain the details and consequences of the transaction to which the defendant would provide...Banks should also want to be sure that vulnerable sureties are exercising free and unimpeded judgement from the onset. Therefore the requirement of independent legal advice should not be an obstacle to ban ks taking on vulnerable securities. It should merely be perceived as a necessary step toward ensuring that vulnerable securities may not be rescinded at a later date. The requirement of independent legal advice is commercial sound and reasonable in that it seeks to safeguard the interests of all parties involved, including the bank. The principle debtor is ensured that he or she will obtain the benefit of a loan on the strength of a promise that the surety will provide security for the loan or discharge the debt in the event he or she is unable to. The bank obtains the necessary security for the loan and the surety is committed to loan. Each of these interests are equally important and it is in each of the party’s best interest to ensure that the vulnerable surety is fully aware of his or her obligations and the consequences of the transaction. Neither the bank nor the principle debtor will benefit from a transaction in which the surety is unaware of the consequences of the transaction is unable to fully understand or appreciate the consequences of the transaction. It makes sense that since the bank wants to ensure the integrity of its secu rities, that it would take the minimal step of requiring that vulnerable sureties seek independent legal advice.

Seventh Grade Algebra and Learning through Experience Assignment

Seventh Grade Algebra and Learning through Experience - Assignment Example In addition, it is clear that through teaching with the experience of doing, a student will learn at a higher and more comprehensive rate than just being told the information. Through an examination of the idea of teaching seventh grade students algebra, Piaget’s theories and those of his followers provide some insight into the overall project. Modified Behavior Approach The learning situation that is being discussed is that of the capacity of seventh grade students to be able to solve algebraic equations using different orders of operations. The essential behaviorist approach is that of the constructivist radical approach that would be used during instruction. The development of the skill to solve algebraic equations begins through the basic skills that are taught at younger ages so that by the time they are ready to approach problem solving at the algebraic level they have a background that supports this new step in the process. The modified approach is designed using schema theory through which the learner is given time to apply knowledge that is previous to the instruction to the new mathematical problems. In addition to the schema theory, the use of the information processing theory provides a method of teaching learners through a variety of ways so that the information becomes entrenched into the cognitive processes that the learner is using. Techniques such as the use of acronyms provide a broad number of learning tools to effectively create the necessary knowledge. Using the cognitive approach in order to allow students a variety of ways in which to express what they have learned. Group work provides the structure through which the result of the lessons can be evaluated and expressed by the students. The core of the lessons is approached through the constructivist approach as it allows for students to learn on their own. Martin and Loomis (2007) discuss how the constructivist approach can benefit students. The development of a constructivist appr oach is based upon students using what they know in order to experience the development of answers through the use of tools that facilitate their understanding and growth in a discipline. Teachers are guides rather than didactic reciters of information. Through this basic concept, the development of the teaching method provides students with the opportunity to experience the act of learning. Piaget’s Theory Piaget’s theory defines learning through two individual criteria, that of development and of learning. Development is based upon the mechanisms of action and thinking, while learning is the acquisition of skills. Learning is based on the development of intelligence. Learning can only be accomplished when a child has the pre-requisite skills that are defined by those mechanisms that have come about through development. This provides for a separation of learning and thinking, providing for the opportunity to examine one and the other independently, even as they will a ct in concert. The concept of learning can be seen through the way in which the ‘factor of equilibrium’ is relevant to the overall event of learning. The example presented by Furth and Wachs (1974) provides a method of thinking about what Piaget considered the ‘factor of equilibrium’. If one looks at a plant it needs water, sunlight, and specific elements in order to grow. However, these advantages do not create growth, but the use of them creates the growth by the plant.

Research Method in E-Logistics and Supply Chain Management Essay

Research Method in E-Logistics and Supply Chain Management - Essay Example This study focuses on a specific aspect of commerce: the supply chain management; emphasis is given on the risk involved in international shipping. Appropriate methods of research have been used in order to identify and explain the various aspects of the specific aspect of commerce. The literature review and the empirical research developed for this study have led to the assumption that risk can be related with all parts of commercial activities; the limitation of this risk is a challenging target, usually depended on the tools available but also on the experience/ capabilities of the persons involved. According to the report findings the use of existing theoretical framework has been proved particularly helpful for the effective handling of risk in commerce; unexpected problems may always appear leading to the decrease of effectiveness of the relevant theories and policies. The role of the persons that involve in the various phases of this activity, i.e. international shipping, is crucial for the limitation of risk; the state also has an important role to the control of the risk involved in international shipping but this role is usually depended on its power to enforce the relevant legal rules. The expansion of globalization has caused the alteration of business priorities worldwide; having to face the increased competition firms in all industrial sectors have been obliged to adopt innovative practices and to monitor all their activities making sure that they will be able to keep their position in the local or the international market.