How Impairment Testing and Off-Balance Sheet Liabilities Affect the Essay

How Impairment Testing and Off-Balance Sheet Liabilities Affect the Reliability of Financial Statements - Essay Example When an instrument is not traded in an active market there is great uncertainty about the ultimate amount that can be realized from the instrument in a transaction between knowledgeable willing parties in an arms length transaction (Eipstein and Jermacowicz 2007). In July 2002, the European Union issued a regulation requiring all EU-listed companies to prepare their year-end accounting standards in compliance with IFRS as from December 31st 2005. Following the recent wave of accounting scandals at Enron, Tyco International and WorldCom, as well as the greater concern for off-balance sheet liabilities, the IFRS has issued a number of standards (IAS 32 Financial Instruments Disclosure and Presentation, IAS 39 , IFRS 7 Financial Instruments Disclosures, and IAS 17 Leases) to help reduce bright lines that enable companies to use off-balance sheet financing. In this paper the developments in respect of convergence between national and international accounting standards since 1st January 2005 to present day will be discussed. The impact that off-balance sheet financing and impairment testing may have upon the reliability of financial statements will also be discussed. In the light of all these, the next section argues in respect to the theme of thi s paper. 1.1.1 How impairment testing and off balance sheet Liabilities affect the Reliability of Financial Statements IAS 36 requires companies to test assets for impairment. Basically, the standard requires that tangible assets should be tested for impairment when there is an indication that an asset might be impaired. (Epstein and Jermacowicz, 2007). However, intangible assets having an indefinite useful life must be tested annually for impairment. The impairment test is required to be applied to a cash generating unit, that is, the smallest group of assets for which the entity has identifiable cash flows. During an impairment test, the carrying amount of an asset or group of assets in the cash generating unit is compared with the fair value or value in use (value in use is calculated as the present value of the cash flows expected to be generated from using the asset). The higher of value in use and fair value is taken and compared with the carrying amount and an impairment loss is recognized if the carrying amount is higher than the higher of fair value and value in use. (Epstein and Jermacowiz, 2007). IAS 36 also requires a company to determine at each reporting date whether there are conditions that would indicate that impairment may have occurred and further provides a set of indicators of potential impairment some of which include (Epstein and Jermacowiz, 2007: p. 247): Market value declines for specific assets or cash generating u

Progressive Islam and Environmental Research Paper

Progressive Islam and Environmental - Research Paper Example Any change in Islamic region has often been resisted because it was seen as bringing about western values into the religion. However, with globalization there is need for inter-religious interaction. This necessitates for religions being more accommodative to other religions. This is why many organizations have come about to bring about progress in Islam. This is aimed at making the religion more flexible and only to be based on Islam values and not on strict and rigid rules. This paper discusses the progressive Islam and the environment in which it operates. It is first important to look at the history of Islam in order to discover the need for progressive Islam. By the end of the section you will discover that Islam in itself was not such a strict and rigid religion. The pre-Islamic Arab society was made up of unbelievers. There was need for change at social and political and moral and spiritual level. The need for change at moral and spiritual level met greater resistance than nee d for change at social and political level. This is because the Meccan Society was spiritually and morally stagnant. The spiritual and moral values kept going down. The tribes in the society carried out trade, which brought profits and great wealth. The wealth was concentrated in the few which led them to neglect others. There were all sorts of Idol worship and superstitions in the society. This sort of spiritual degradation was common among the Meccan Arabs. Their customs and traditions became an obstacle to change. Examples of this included burying girl child alive, maltreatment of women and sexual immorality. During this time there were no teachings or writings that could guide the society. The society worshipped the ancestors. There was great religious vacuum in the society. The religion that was around the Arabs was Christianity which they were unwilling to accept because it was associated with Roman dictatorship, which they were against. They argued that accepting Christianity was like losing their independence. The gap between the rich and the poor began causing tensions among the Meccan society. This led to the rise of Qur’an teachings. The teachings responded to these tensions by stressing on knowledge, justice by redistributing wealth in the society and spiritual and moral uplift. This was to solve most of the problems in the Meccan Society. As it can be seen, Islam arose not only as a movement for change but also as a moral and spiritual force. Its insistence on knowledge, social justice, spiritual and moral justice makes the religion inherently progressive. Islam taken from its origin does not need advocating for progressiveness. It responded to moral spiritual and social needs of all. The Qur’an teachings are sympathetic to the weak in the society and gives equal rights to women as men in the society. The Qur’an gives out the rights of women in marriage and inheritance of property and states that women should be given equal di gnity. For this religion to be progressive it must accept the gender equality. The progressive aspects of Islam were lost. The pre-Islamic traditions were not abandoned even after embracing Islam. The poor attitude towards women remained. The people even attempted to interpret the Qur’an together with their traditional believes. This led them to develop their own rules alongside the Qur’an. These laws were known as Sheri’ah. Some of these laws went against the teachings of Qur’an. Take for example allowing triple divorce which was a condemned

Customer Care And Complaint Resolution Policies Commerce Essay

Customer Care And Complaint Resolution Policies Commerce Essay At Romans Pizza, According to Chenet and Johansen (2006) customer care is the ability to inspire trust by being courteous, knowing ones products and understanding the customers needs. Complaint Resolution Policies are defined as To see the analysis of customer care and complaint resolution policies at Romans Pizza, this project consists of five chapters. Chapter 1 will explain the background and brief description of Romans Pizza which will be including the background of Romans pizza, about the good and the service of the product and lastly about the industry. While chapter 2 is based on customer care policy, vision and mission statement of Romans Pizza and their impacts on customer care operations. In chapter 3 all complaints which Romans Pizza face frequently will be touched and ways of logging complaints by customers and who is responsible for attending customers complaints. Chapter 4 will look at the resolution process followed by Romans Pizza and turn around time taken to resolve the complaints and how the VIP customers are handled while chapter 5 will focus on the review process of the complaints raised by customers including how the escalations are handled and how complaint resolution closed. However a s researchers we will also recommend to the management in terms of how they can improve on customer service considering that this is a more competitive and even globalized world .this research work shall be handed over to management. CHAPTER 1 THE FIRM Researchers used Romans Pizza Time Beaters (Pvt) Ltd as a case study and conducted a research based on an Analysis of Customer Care and Complaint resolution Policies. This firm was found in 1993 when Arthur Nicolakakis bought over a struggling Pizzeria. He had a vision to provide the best quality product at the lowest price. Its goal today is still to be the best value for money in the industry. Here in Botswana its operations started in September 2010, opening a single outlet in Gaborone which is located at Game City mall. It is said to be opening other operations in Francistown-Blue Jacket Street, Phakalane, and Square Mart Mall. The competition in this industry is very tough as new entrants enter in succession. PRODUCTS It is producing and selling pizzas. They range from sizes small, medium and large. A customer can either book for a pizza over the phone or in person, and it takes about 10 minutes for it to be ready. Various pizzas are produced with different flavours and taste depending on the ingredients used by the production department at Romans Pizza Time Beaters (Pvt) Ltd. They also sell beverages such as water and soft drinks. THE INDUSRTY Romans Pizza Time Beaters (Pvt) Ltd falls under hotel catering industry. Its competitors include Debonairs Pizza, other restaurants who are selling the same products and Pizza Den. Romans Pizza Time Beaters (Pty) Ltd has also branches in South Africa. Time Beaters (Pvt) Ltd was incorporated in 2010 to provide timely and precise transportation to product providers. CHAPTER 2 CUSTOMER CARE POLICY AND VISION Customer care policy refers to the guide lines that are adhered by the organization when it is dealing with the customers whenever there is a problem. Usually such issues are expressed in vision and mission of the company in relation to the customers. MISSION Mission refers to what an organization aim for its purpose and existence as a supplier or producer of goods and provider of a service to the organization, (Schermerhorn, 2008). Romans Pizza Time Beaters (Pvt) Ltd mission is The Pledge Every Romans Pizza meal is made from the finest imported ingredients, all the way from Greece and Italy, as well as the freshest local ingredients. All meals are prepared to order and are therefore guaranteed to be fresh, delicious and straight from t he oven. The staffs ensure that the pizza experience is truly fit for a king. These are pizza perfectionists, it with and can prove it with the proud and passionate price promotion. Vision refers to the future predictions of the business in relation to what it offers in terms of services that it offer, (Schermerhorn, 2008). Romans Pizzas vision is to be one of the best in selling pizza and to provide customers with the best value and to provide the best quality product at the lowest price. Its goal today is still to be the best value for money in the industry. IMPACTS OF THE MISSION ON CUSTOMERS This mission has a very big effect on customers as what comes into their mind immediately they see the mission statements. They will opt to buy at Romans Pizza because most customers like to be associated with value and quality. So if Romans Pizza does not live up with the expectation of the customers that may work against their success of the business and mission. CHAPTER 3 FREQUENTLY FACED COMPLAINTS Definition of a complaint According to Chenet and Johansen (2006) a complaint is a chance of introspecting what could have been gone wrong and caused dissatisfaction. It can also be referred to as an expression of any dissatisfaction. Ways of logging in the complaints Customers who are willing to complain can pose their complaints via the companys telephone number The company also has a suggestion box displayed on the counter. What management do they will summon all the staff and brief them about the complaints raised by customers and coming up with a solution. The other mode of complaining by customers is through face-to-face. This includes face to face interaction between the customer, and a customer service representative of romans pizza, and then the matter is solved in the floor. The customers are supposed to report their complaints to the sales representative before reaching the manager. Process of logging in the complaints Customers have a way or process of complaining that is arranged by management of Romans Pizza. First of all, complaining customers raise their complaints to the sales representative. The sales representative can resolve the matter at hand if it does not require the top management. If the sales representative is failing to solve the matter, it is then directed directly to the manager. At Romans Pizza complaint numbers are not issued as complaints which are raised by customers are very average and minimal and they do not take long to solve a complaint so this avoid keeping customers waiting. Commonly raised complaints from customers Some of the complaints which are frequently by customers are as follows; Waiting period Sometimes customers say they take a very long time waiting for the pizza to be ready. Some customers order hot pizzas and want them right away but according to the Production manager, a single pizza takes about 10 minutes to be well cooked. Hygiene The level of hygiene at Romans Pizza does not impress some customers because one of the customers stated that it is not clean since there are always flies in the eating area, and the producers or cooks do not put on their hats properly thus chances of their hair falling in the food are very high. Wrong orders Another complaint that is raised is a mismatch of the product that customers have ordered. For instance, a customer might order a pizza in thick flavour and the seller can probably give the customer a thin base. This is usually due to many customers buying at the same time. The number of complaints that management of Romans pizza handle in a day cannot be measured as sometimes there are no complaints at all. In some days, one-two or three complaints can be raised and most of the time there are no complaints raised, they are very average in terms of number. CHAPTER 4 THE RESOLUTION PROCESS THE COMPLAINT RESOLUTION PROCESS (LIST) Complaint resolution processes are the steps which are used by management of a business by way A company can use the `LIST` method of solving a raised complaint by a customer. What happens is that when a customer is dissatisfied with any service pertaining a company in which he or she interacted he will be listened to. After a customer has complained and listened to the customer service provider will then isolate the core and associated problems by asking the complainer some questions. Then the service provider will then solve the problem as quickly as possible and by so doing the customer will be informed. The last step of this method is to take the feedback from the customer to ensure that he is satisfied. Researchers have discovered that Romans Pizza also use the same procedure while trying to solve complaints raised by customers. First of all management listen to a complaint raised by customers and look at where could have been the problem by asking the customer some questions that are related to the complaint. A service provider will make sort of a dialogue with the customer and if its a minor issue that can be solved by a service provider he will promptly solve it and if it requires the manager it will be passed on where he will settle the complaint. After all respond will be taken from the customer and will be informed. Usually each and every complaint is resolved using this same procedure. Escalation process Refers to Standard Turn around time Refers to time set to completing a process or an event that was done previously, (Kotelnikov, 2001). As different customers uses different means of logging in complaints so the turn around time also differs at Romans Pizza and depend on the type of complaints raised, but usually a complaint that is raised over the phone takes about 5 minutes to be solved and face-to-face complaint takes a very short time which is usually 2 minutes. Definition of Deviations Chenet and Johansen (2006) define deviations as a change from an agreement. As for the resolution process each and every customer is given the same priority and the process is the same while attending customers, even VIP customers. According to the customer service provider at Romans Pizza what the customer asks they provide in terms of services and said they appreciate customers complaints as they help in capitalising the mistakes done so as to work on it so that it can never repeat again. CHAPTER 5 THE REVIEW PROCESS ANALYSIS OF COMPLAINTS The staffs of Romans Pizza normally handle meetings every week after the complaints have been collected. They then try to come up with ideas as to how to solve those complaints and strategies to ensure customer satisfaction. They can make themselves better in giving the good customer service which makes them a good competitor against other rivals. HANDLING OF ESCALATIONS Romans Pizza normally make sure that those complaints that are frequently raised by the customers are known throughout the company so that those kinds of complaints can be prevented in the future. TURNAROUND TIME This refers to a set offered for completing a process or on event as done in the previous process or an event (Kotelnikov, 2001). The maximum time taken to resolve the customers complaint does not take more than 30 minutes. Time is considered as money at Romans Pizza the moment a complaint arise the customer care providers immediately takes action and if the complaint is not solved the manager is engaged to assist to solve the problem. This process does not take hour since the customer might lose patience and confidence in the company. COMPLAINT RESOLUTION CLOSURE At the end the branch manager of Romans Pizza should solve customers complaint fairly, that is to say the branch manager should be and give the customer compensation to ensure customer satisfaction and create a good image for the company. After the sale customer satisfaction is checked by calling back the customer to find out if they are satisfied with decision taken to solve the complaints. Conclusion To sum up the project, researchers can conclude that customer service is an integral part in a business for it to be successful and if it provides good quality service, more customers can be obtained and existing customers retained. Thats what Romans Pizza and Time Beaters (Pvt) Ltd is trying to do and if they keep on serving customers with quality they can gain edge over their competitors. Recommendations Romans pizza should improve the hygienic state of their company since it is not good for the health of the customer. The waitress must pay attention when the customers place orders and also brief about the variety of pizzas available in order to avoid mismatch in the products. Also the time estimated for the pizza to be ready should be taken into consideration because sometimes the time promised to the customers for the pizza to be ready is exceeded. The Romans pizza should not take more time to place the orders and should not make the customers to wait for a long time .

True Grit Vs Old Man And The S :: essays research papers

Comparative Essay Between The Old Man and the Sea and True Grit The Old Man and the Sea, by Ernest Hemingway, a simply written novel of an old man's singular struggle, while trying to catch a fish, against forces of the sea overpowering him and True Grit, by Charles Portis, a gripping western, placing you in the middle of the action during a girl's quest with two other men to get revenge for her father's murder, are two works united in several ways. Many similarities throughout both works appeared evident. Plot, theme, and characterization categorize those similarities.   Ã‚  Ã‚  Ã‚  Ã‚  First of all, in plot, the works share the same event progression. An early start, a determined drive, a final showdown, and an attempt to continue the achievement. The intentions were to simply accomplish no matter what the circumstance. The Old Man set out early in the morning as indicated here, '…he began to row out of the harbour in the dark.'; In True Grit, Mattie, a girl bent on avenging her father's death, Rooster, a federal marshal, and LaBoeuf, a Texas Ranger, set off when, 'It was still dark outside and bitter cold although mercifully there was little wind.'; The dedication involved in the characters' pursuits becomes more evident later on. 'He is a great fish,'; the old man told himself, 'and I must convince him not to learn his strength…'; As it was also with the Mattie from True Grit. 'I knew both of them (Rooster and LaBoeuf) were waiting for me to complain or say something that would make me out to be a 'tenderfoot.' I was determined not to give them anything to chaff me about.'; Her intents were not purely superficial though. Her anger toward '… a coward going by the name of Tom Chaney,'; was a key factor in driving her to achieve her purpose. Finally, after toiling with the fish, the Old Man, '…took all his pain and what was left of his strength and his long gone pride and he put it against the fish's agony,'; in his last bout with the great fish. The same sort of event occurs at the same point in the story line in True Grit. 'Rooster said, 'Fill your hand you son of a bitch!' and he took the reins in his teeth and pulled the other saddle revolver and drove his spurs into the flanks of his strong horse Bo and charged directly at the bandits.

Mothers Who Work and Attend College

There has been a debate on the previous years on whether sociology must be regarded as a science or not. Experts had presented their stand and study why sociology is a science and why not. Many of them started by defining what science, what comprises a science, and what can be called and claimed scientific. Even in our early school days, science by definition is the logical activity of observation, identification, description, experimental investigation, and theoretical explanation of phenomena. Science is a big scope of study and therefore must be divided into categories. So, the branches of science appeared. Early sociologists fought to establish sociology as a science. Their main argument is on the methodology used in sociology that is for them, is a science. According to Comte, like what is observable methodologies in science, are what sociology has. Scientific methodologies such as observation, experiment, comparison and historical research are all present and used in sociology. For him, if sociology uses these four methodologies which are common to scientific methodologies then, a strong claim for sociology as a science must be recognized. But because Comte did not execute an experimental research about this, then his claim was not valid. The argument of Comte approached Durkheim. Durkheim made the claim that sociology is a study of social facts, that is â€Å"a thing that is externalto, and coercive of, the actor† (http://www.human.nagoya-u.ac.jp/~iseda/works/soc-sci.html) Durkheim introduced a thing that he called externalto in his claim to make sociology as a science. He deepened what Comte cannot explain. His argument is that, social facts cannot be explained by the detailed mental examination of your own feelings, thoughts, and motives because social facts are external. Durkheim did an experimental research on suicide to support his claim. Suicide has been a global social problem. Suicide happens for a total of 90 countries around the world. Wasserman (2005) cited that, â€Å"Lithuania has the highest suicide rates per 100, 00 young person aged 15-19 in 90 countries with 23.9 in 2002.† Durkheim included statistical analysis on suicide rate. By that, the goal is a have a support for the claim that suicide is a social phenomenon. The predictions did not agree with statistical data. Durkheim rejected the alternative hypotheses. The attempt of Durkheim to present an empirical result was admired though it faced several problems. The falsification criteria did not work because Durkheim resulted to very strict criteria. Consequently, precise predictions are hard to achieve and/or gain based on sociological theory. Others argued to the work of Durkheim that conflicted on his definition of suicide and his removal of introspection in the methodology. Suicide for him is any cause of death that the executor knows that death is the result. Many questioned that if introspection is not present, how can the executor knows that the result of his/her action which is suicide, is death? Weber also attempted to provide explanation and support in making sociology as a science. Unlike Durkheim, Weber used introspection. According to him, the understanding on other people’s motivation is needed for it necessary for sociology. This understanding can be attained through introspection. But this was never easy to be presented as a science. A strong falsification was given to interpreted facts. Philosophers of science explained that interpreted facts cannot be run to the theory because anyone can give his/her interpretation. There is a way for sociology to be known as science. It is when the provided criteria are not too strict, and when minimal possibility of falsification is presented. Works Cited â€Å"Science† American Heritage Dictionaries. Retrieved November 5, 2007, from (http://www.answers.com/topic/science) â€Å"The Case for Sociology as a Science† Retrieved November 5, 2007, from (http://www.human.nagoya-u.ac.jp/~iseda/works/soc-sci.html) Max Weber. â€Å"Sociological Writings.† (1994) Retrieved November 5, 2007, from (http://www.marxists.org/reference/subject/philosophy/works/ge/weber.htm) Wasserman, D., Qi Cheng, Guo-Xin Jiang. â€Å"Global suicide rates among young people aged 15-19† World Psychiatry (2005) 4(2): 114–120. Retrieved November 5, 2007, from (http://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=1414751)      

Rhetorical Analysis, Mickey Mouse

Rhetorical Analysis 10 February 2013 In the article The Masks of Mickey Mouse, Robert Brockway explains how Mickey Mouse was one of the most important cultural symbols during the twentieth century. The article discusses how mickey mouse went from being a slap stick cartoon character like all other animated personalities and grew into a much more complicated being. He was the sign of hope and escape during the depression and evolved even more into the dominating avatar of Disney itself. Brockway begins his article by describing Walt Disney himself trying to explain the dramatic success of his simply drawn cartoon character.It starts the article by showing the reader that even Disney himself is shocked by the massive popularity the animated mouse collects during the 1920s and 1930s. This also sets up the first point the writer pushes which is that Mickey Mouse is no ordinary cartoon character but a diverse, evolving cultural symbol that everyone around the world can relate to. As the a uthor puts it, â€Å"He has become an archetypal symbol, not only to Americans but to people everywhere, especially to the generation that was young during the thirties. Brockway goes on to reinforce the initial argument by stating that the entire film industry was shocked by the torrential success of Disney’s character and saying, â€Å"Mickey was instantly popular not only among ordinary people young and old, but with intellectuals, artists, and heads of state (Profiles of Popular Culture 80). † The author continues to press the point of the cartoon’s global influence talking about the king, George V, in England requiring a Mickey Mouse short be watched before every film performances and the Emperor of Japan wearing a Mickey Mouse watch.Shortly after proving Mickey’s dominance of international culture Brockway talks about how complicated the short, round mouse really is. He claims Disney himself tried to explain the mouse’s popularity simply on his plainness, saying that everyone could understand him easily. Brockway counters this statement by stating, â€Å"He is as complex as Disney was himself and as profound in his symbolic and mythic implications as any mythic or fairy tale character (Profiles of Popular Culture 80). † Another point the author makes about Disney’s character was that it was in the actual shape of Mickey’s body that was a reason for his dominance. He also evokes the mysteries of the circular design which some authorities find profoundly significant as an archetypal figure. Such a phenomenon can scarcely be dismissed as frivolous,† Brockway announces in his article. There is a statement later in the essay that talks about curved shapes having always been a favorite of people even if they don’t realize it. It states that since there is no threat in a curved surface we enjoy them more, unlike a sharper object with points which we see as more of a danger.For this reason the author deducts that one of the contributing factors to Mickey’s early competition, Felix the cat, didn’t last simply because of how sharp his design was. The essay quotes John Hench, â€Å"Mickey has been accepted all over the world, and there is obviously no problem of people responding to this set of circles. I’m going to oversimplify this, but circles never cause anybody any trouble. We have bad experiences with sharp points, with angles, but circles are things we have fun with- babies, women’s behinds, breasts. So Mickey was made this way, while a contemporary known as Felix the Cat didn’t get anywhere.He has points all over him like a cactus (Profiles of Popular Culture 87). † Brockway also quotes Ub Iwerks on the shape of mickey’s head, â€Å"Mickey’s face is a trinity of wafers- and the circular symbol†¦ always points to the single most vital aspect of life- its ultimate wholeness (86). † The other contribut ing factor the author lists as to why Felix the Cat doesn’t go anywhere was that he never evolved from the slapstick comedy that started him out. Mickey also began his career with a slapstick style as did many artists in the twenties.Unlike Felix though, Mickey didn’t remain in the slapstick genre of comedy. According to Durgnat, slapstick emerges from childlike impulsiveness, dream fantasy and visual poetry. The â€Å"slapstick comedians are childlike, and†¦ act out impulses which as adults we suppress (Profiles of Popular Culture 83). † Disney evolved Mickey Mouse during the thirties because of the tone that America had taken. The economic crisis called for a different kind of comedy a more upbeat type. The bleakness of everyday life called for a cartoon that displayed sentimental escapism.Brockway claims that Disney seamlessly changed the style of his cartoon to relate to the changing times in America with shorts called Silly Symphonies (84). Brockway wr ites that this is not the only evolution Mickey must go through to stay relevant. During the second world war, Mickey is matured again to fit with the times. He goes from short films to being the face of the corporate Disney image. Brockway claims he became the â€Å"organized man (86). † Brockway’s final point in the text is that Mickey, as many heroes do, will die out in popularity as the generation that grew up with him also dies.He states, â€Å"Mickey has some impact on younger people but far less than upon those born during the inter-war years. That generation is now senior and it is also diminishing. All gods eventually die and Mickey is no exception. But, being immortals, all gods rise. Mickey, too, may be reborn in some future imaginary character of the popular culture of which he is an avatar†¦ Future generations will encounter him again (Profiles of Popular Culture 88). † Works Cited Browne, Ray B. , ed. Profiles of Popular Culture: A Reader. Mad ison, WI: University of Wisconsin, 2005. Print.