The untold Story of Theseus

The untold Story of Theseus The Untold Story of TheseusThe road ran along the edge of the cliff above the burning blue sea. Theseus turned a bend in the road and saw a man sitting on a rock. The man held a great battle-ax in his hand; he was so large that the ax seemed like a hatchet.Before the enormous man could say a thing, a thunderous voice shook the cliffs. The projected voice was heard to say, 'Bumble Bee Tuna, Look to la Luna.' Suddenly, Theseus disappeared in a flash of blue light.This is all I can tell you for I know no more. You shall have to ask the spirit of Theseus to continue...The Traveling(The spirit of Theseus Speaks)'I found myself in a dark place void of any light. I spent very little time in this manner. The dark place was soon illuminated by two men with fire sticks, that gave white light in stead of yellow.'Sciron beaten by Theseus. Detail of the side A fro...'These men that shone their fire sticks at me were dressed strangely; all in blue. They spoke in an unfamiliar tong and shoved mysel f into what I could only describe at the time as a horseless chariot.''After many days there slow minds concluded that I was a stranger in this land, and sent me to this house with many other young men my age.'(TimÂÆ'Â © PasÂÆ'Â ¡)'Many moons have passed. Over this time I was taught their language and concepts. I found that they call themselves Americans, more specifically 'Michiganders'. I have always been quick to learn and they labeled me as an adequate student. Me. Theseus. Son of Poseidon. Labeled as adequate? Sheeeshh. Anyway, I was told that tomorrow I would be going to a 'High School', specificly, Nth grade.'High School'High school was...

Differences Between the Words Device and Devise

Differences Between the Words 'Device' and 'Devise' The words device are devise are commonly confusedprobably because they sound similar and their meanings are related. However, device and devise are two different parts of speech. Definitions The noun device means an object, a gadget, or a piece of equipment made for some special purpose. The verb devise means to plan, invent, or form in ones mind. Examples A smartphone can be a handy device for avoiding work.The sink is a magnificent device: it fills with water, holds it awhile, and then, when the drain is released, it empties.(George Carlin,  Napalm Silly Putty. Hyperion, 2001)We need to devise new solutions to old problems.Scientists at the University of Bologna in Italy have  devised a hand-held device  that, when passed over the body, identifies different resonations of body tissues in response to a fluctuating frequency of microwaves.(The Science of Anti-Aging Medicine, ed. by R. Klatz and R. Goldman. American Academy of Anti-Aging Med, 2003) Usage Note A device is a machine or tool; to devise means to invent or concoct something. (To devise one must be wise. Will ones device work on ice?) The stable hand would like to devise a device that cleans up after the horses. (Phineas J. Caruthers,  Style Circumstance: The Gentlepersons Guide to Good Grammar. Adams Media, 2012) Idiom Alert: "Left to Our Own Devices" When were left to our own devices we use the learning-by-doing method. Left to our own devices means theres no one looking over our shoulder in front of whom we feel embarrassed if we fail.(Roger C. Schank,  Making Minds Less Well Educated Than Our Own. Lawrence Erlbaum, 2004)Have you received the message by now that our emotions dont treat us well when it comes to managing our money? Left to our own devices, we tend to do stupid things with our money.(A.J. Monte and Rick Swope,  The Market Guys Five Points for Trading Success. Wiley, 2011) Practice Exercise (a) We must _____ a way to rescue Lassie from the well. (b) Maybe a _____ involving pulleys and kittens will work. (c) My father, in the  firefly-rife backyard  of my first home, lights a bundle of little firecrackers and darts dramatically back, and we all stand around in an awed circle, at what we hope is a safe distance, as the _____ twists and jumps and shouts its furious, frustrated noise.(John Updike, The Fourth of July, 1991) (d) You can imagine, Watson, with what eagerness I endeavored to piece together our scientific findings and to _____ some common thread on which they might all  hang.(Sir Arthur Conan Doyle, The Adventure of the Musgrave Ritual, 1893) Answers to Practice Exercise (a) We must  devise  a way to rescue Lassie from the well.(b) Maybe a  device  involving pulleys and kittens will work. (c) My father, in the  firefly-rife backyard  of my first home, lights a bundle of little firecrackers and darts dramatically back, and we all stand around in an awed circle, at what we hope is a safe distance, as the  device  twists and jumps and shouts its furious, frustrated noise.(John Updike, The Fourth of July,  1991) (d) You can imagine, Watson, with what eagerness I endeavored to piece together our scientific findings and to  devise  some common thread on which they might all  hang.(Sir Arthur Conan Doyle, The Adventure of the Musgrave Ritual, 1893)

Global View of Modern History Essay Example | Topics and Well Written Essays - 750 words - 13

Global View of Modern History - Essay Example The transatlantic slave trade is a well-documented event that represents the rise of European economic power. It occurred between the fifteenth and nineteenth centuries in West Africa. Commercial interest drew Europeans to West Africa as trade networks expanded to and within the region. Europeans tapped the commercial value of slave trade which led to a huge migration of West African slaves across the Mediterranean and the Indian Ocean to the Atlantic Ocean basin (Bentley  and Ziegler, 559). The labour these slaves provided played a vital role in the enhancement of European agriculture, technology, and trade thereby allowing it an advantage over other civilizations (Pomeranz, 266). The Industrial Revolution was an important event that characterizes Europe’s step towards greater sophistication and technological advantage, which was critical in driving European power. Before the revolution, Europe’s backwardness lied in agriculture, means of production, land management, and inefficient use of fuelwood (Pomeranz, 32). The Industrial Revolution provided Europe with a technological lead over the rest of the world which was possible through Europe’s interaction with other civilizations. Further, it allowed the European society to transform into an industrial society characterized by mass production, paving the way for capitalism (Bentley  and Ziegler, 659). World War I is another significant event in world history, also known as the Great War, which represents a European conflict of large scale. World War I mainly involved European powers and their colonies, including the Allies and the Associated Powers and the Central Powers. The conflict which erupted as an Austro-Serbian dispute grew to involve Europe’s powerful empires. Again, the World War I represents the rise of European power because, with the defeat of the Central Powers, the European Colonialists were able to exercise power that created current conflicts such as the ongoing Israeli-Palestinian conflict.

Analyzing ads Essay Example | Topics and Well Written Essays - 1000 words

Analyzing ads - Essay Example The management has however, created counter strategies in their advertisement techniques in order to capture new customers and maintain its old customers in the market. Fowles’ appeal plays a major role in production of these Ads. The Management factor in his 15 appeals to reach out to market efficiently. Jib Flowless is a scholar who suggests that advertising revolve around 15 different appeals (Fowles 8). These include need for sex, affiliation guidance, and nurture, aggressiveness, to achieve and dominate. The rest of the appeals includes the appeals for the need for prominence, attention, autonomy, escape; feel safe, aesthetic, satisfy curiosity and the psychological needs. The Ads focus on flashy faces of the models with white healthy teeth posing with Colgate toothpaste. This is in order to create appeals to potential customers to be interested enough to buy the product. The other focus is the flashy look of the Colgate plastic pack. This is contrary to its competitor wh o uses animals known to have strong teeth like the beaver to advertise their products. Ads analysis The Ad in picture one uses a beautiful woman smiling to help market Colgate. The beautiful woman appeals to the emotion of the potential clients in order to capture their attention to look at the Colgate picture. Her brighten smile appeal for the need of affiliation to the beautiful smile. The smile invokes a memorable picture in the mind of the customer just as the marketing department at Colgate aimed to achieve. The Colgate toothpaste appears on the part of the picture to capture the attention of the reader. The conspicuous size of the toothpaste is to ensure that the name of the product hits the subconscious mind of the consumer. The background in the picture is red with large word in white that say Colgate fights germs. This message is to appeal to the need that ensures the customer feels safe. This emphasis is by the choice of the words and their size triggers conversation among the people looking at the advertisement. The main reason for advertisers to choose the above appeal; was to capture the attention of the potential customers (Biagi 156). The appeals reveal the audience of the Ad was parents and young people in the society. The appeal for the need to feel safe was targeting parents who take extra precautions to ensure that their children are safe from germs. The beautiful smile by the woman in the Ad depicts the audience of the Ad to be young people who like to look stylish and modern. In conclusion, Ad was targeting the elite group in the market. The Ad in picture 2 seeks to market a new brand of Colgate toothpaste. This is evident by the large letters in the name Colgate maxfresh. The name maxifresh appeal to need to achieve freshness in the mouth. These words are special and meant to send a message that the product offers maximum freshness in the mouth. The words â€Å"Unleash a rush of freshness† work to create an emotional appeal to rela te to the product to experience the feeling of freshness. Flashy blue container of Colgate creates interest in the mind of the individuals viewing the Ad to have an interest in the product. The advertisers specifically choose these appeals to ensure that they capture the attention of a larger market pull. The large letters of the product name seek to market the toothpaste among already consumers of other toothpastes products. The Advertisers ensure that the words â€Å"Britam stripes†

Shakespeare and Kafka Essay Example for Free

Shakespeare and Kafka Essay Both Shakespeare and Franz Kafta were the men of their contemporary world, placing the world as they see with irony and forms a juxtaposition of a psychological trauma of man troubled by the societies unwarranted interference and trouble in their lives. Shakespear’s tragedy and Kafta’s trial are the tragedies and both of their protagonists have their tragic end not only due to the circumstances created by the society but also by their own mental traumas and thoughts. But, there are certain differences between the two, Hamlet’s King died more due to his moral dilemma while Kafta have to bear the consequences of the bureaucratic rules and laws of the land. Shakespeare uses the technique of inner struggle of a man who is confounded with the fact that her mother has married with her husband’s murdered and the plans of revenge he intended to take. The Hamlet’s trauma was his thoughts about the various moral issues. The biggest moral issue in front of him came when he got revelation of the truth about his mother’s infidelity. He was fixed in a dilemma was it right to kill his mother as a punishment?. He was caught so much in the dilemma that he delayed taking revenge resulting in the circumstances that proved tragic for him. Though he took revenge in the end but at the cost of his life and also of others to whom he matters the most particularly his beloved. Trial is also same in the sense that it also ended in tragedy yet it is different in the sense that Joseph K was giving unsuccessful fight against the court to denounce his death sentence. It was only in the end he accepted his fate and himself summoned his call of death. If Shakespeare would have written â€Å"The Trial† then Joseph, the main protagonist of the story would have been a man of higher status in the society and would have been more a tale of suffering. His misfortune would have been something exceptional and extraordinary. When Joseph K was informed that he would be arrested, Shakespeare would have turned the character as the most humble without any power to face resistance. Joseph would have been incapable to make quick decisions, though he would have been capable to make indecisive and rash decision but would never have been able to take planned or premeditated action. As in the exact story of Kafka where Joseph is shown making efforts for his release, calling his attorney and even went to the court on the appointed day for the hearings as the demand of the law of the land, Shakespeare would have twisted the story here. He would have made Joseph lament of the tragedy going to befall on him. Joseph would have given himself to mediation and reflection and in this process he would have gone on delaying in his efforts to secure his release. Joseph would have thought too much about the circumstances befallen on him before making efforts of his actions. Shakespeare would have allowed him to commit the actions and commissions and cause him great mental agony and not only physical pain that he was going to endure. And later as â€Å"Hamlet†, he would have tried to find out the main reason behind his alleged arrest and trials and who were responsible for his so tragic fate, which was never revealed to him by Kafka. In tragedy by Shakespeare, the hero normally comes to the realization of truth of which he had been always unaware of and as Aristotle himself said, â€Å"a change from ignorance to knowledge†. (Mcmanus, Online) Therefore in â€Å"The Trial†, Shakespeare would have made Joseph make efforts in gaining the knowledge and reason behind what has made his fate most tragic. Later Joseph would have grown in stature and wisdom, as Shakespeare would have made him realize the fact that reason is not enough. An over reliance on reason and belief and untrammeled free will are hallmarks of the Shakespearian villain, and the heroes learn better. Joseph would have made to realize that he should have resort to much better efforts while dealing with the crises and situations, which are out of his control. On the other hand, Kafka would have also used the elements so typical of him as a writer in Hamlet. He would have created Hamlet as a person who would not be merely pondering and reasoning on the causes of his befallen fate but would have strived to fight for his rights against the unjustified justice. He would have made Hamlet, instead of entering into the moral dilemma of whims and his passion for his mother, strived to take immediate action against the culprits who were responsible for his father’s death. His anguish and emotional trauma would have been very less as compared to the trauma inflicted by Joseph. Where in Hamlet, Shakespeare has created an element of Ghost, Kafka would have made the appearance of divine figure like that of a priest who would have taught Hamlet to accept his fate as what is destined for him has to happen. For Kafka, guilt is a feeling that no man can avoid whatever his or her experience may be and in Hamlet, Kafka would have definitely used the element of guilt. He would have made Hamlet realized his mother and uncle of guilt instead of entering into moral dilemma himself and make them face the trials. Here Hamlet would have been realized the fact that it is not important that an individual is actually guilty of an offence but what is important is that crime has occurred and he knew the culprits and therefore they ought to be put in trial and convicted. Another aspect to it is an issue of revenge. Hamlet wanted to take the revenge of the death of his father that was contradictory to the contemporary society in which Hamlet was written. This revenge implies taking the law in one’s own hands in order to satisfy an inner urge, although in civilized society the function of fighting the wrongs done to individuals belong to the state or the government. If Kafka had written Hamlet, he would have made Hamlet t try to follow the course of law to punish the culprits. But, he would have made Hamlet unsuccessful in his efforts as the law takes its own course and by that time Claudius would have been set free and took an adequate opportunity to bring Hamlet to his tragic death. In other words, death of Hamlet could not have occurred due to the moral flaws in the character of Hamlet but due to the circumstances that were out of his control. In spite of his efforts, Hamlet would never have been able to bring real culprits on the punishment panel. Kafka would have made Hamlet a story of the faults in the justice system of the contemporary society instead of the moral flaw in the character that would have made his end inevitable.   In Kafta;s version of Hamlet too, would have also died in the end but in a different way. Hamlet would have never been able to find truth of the conspiracy behind his father’s death. As with the Mouse Trap’ in Hamlet was the major victory for Hamlet as he was able to contrive his father’s murderer but the parable of Kafka’s would have made Hamlet frustrated as it neither contained any golden rule nor even suggested a mode of behavior under particular conditions. Hamlet would have not learnt anything and died a meaningless life bearing the misery of human existence. In the end Hamlet says, â€Å"the rest is silence†, this dialogue is an exploration of the true nature and life of human beings. Hamlet realized the fact that for all human beings, the ultimate destiny is death. Finally all human beings have to attain the death, which is inevitable and have to accept their ultimate faith. Hamlet confronts, recognizes and accepts the condition of being man and the last death wringed in him final cry of passion. But it is not simply the acceptance of death that Hamlet wants to unveil but within this end is the paradigm of complete mysteries of life and along with it is the mystery of evil. The realization of the reality of the death and the mystery of life he felt in the graveyard where the bodies of scheming politicians, the hollow courtier, the tricky lawyer, emperor or the queen and the beautiful young maidens laid.   Whereas when Joseph K said â€Å"like a dog†, Kafka struck at the contemporary society with a tool of an irony. Joseph K.’s demise is the demise of all human beings who had to face the courts and trials without any question. All the human beings are the dogs in the hands of the society and have to accept the fate what has been destined for them. This is a difference between ‘like a dog’ and ‘the rest is silence’. The similarity between the two lies in the fact that fate is the biggest thing in the life of human beings and every one has to accept their fate. Works Cited McManus, Barbara F. â€Å"Outline of Aristotles Theory of Tragedy in the POETICS†. Internet. (1999). Available: http://www.cnr.edu/home/bmcmanus/poetics.html, October 17, 2008.

The Politics of Obesity Essay -- Overweight Health Eating Habits Essay

The Politics of Obesity A March, 2005 headline on CNN.com brought deeply disturbing news to the American public: â€Å"Report: Obesity will reverse life expectancy gains.† For the past 200 years, life expectancy steadily increased thanks to medical advances such as the discovery of antibiotics and vaccines, but this upward trend is no longer guaranteed. Childhood obesity has already reduced the average life expectancy between four and nine months. â€Å"[T]oday’s generation will have shorter and less healthy lives than their parents for the first time in modern history,† warned S. Jay Olshansky, the University of Illinois researcher and author of the study (1). In 2004, the US Center for Disease Control found that at least 66% of adults were overweight or obese—double the percentage in 1980—and that more than 1/6 th of kids ages 2-19 were overweight. Type II diabetes, usually caused by an unhealthy lifestyle rather than genetics, has increased as a side effect of obesity and heart disease is also on the rise. In short, obesity is a national epidemic. Accusatory fingers have been flying, each pointing to different possible causes for our tubby younger generation and their similarly overweight parents. Some blame video games that keep kids inside and sedentary and some see the shift toward desk jobs as the reason. Others claim that our car culture based on cheap gas is the culprit. Still others fault the fat-laden fast food, soda, and junk food that Americans consume by the ton. To be sure, these cultural phenomena are interconnected and no one cause can be blamed entirely, but one tiny acronym stands demurely behind this last category of diet-related causes: HFCS. High fructose corn syrup, the favorite food additive of Coke, ... ...ne wants to experience the pain and frustration of obesity, and surely we wish to protect our children from starting out life unhealthy and overweight. As consumers but more importantly as citizens, we must be informed about the HFCS and obesity for our children’s sake, and US agricultural and nutritional policy must reflect our concerns. Sources Cited: http://www.cnn.com/2005/HEALTH/diet.fitness/03/16/obesity.longevity.ap/ http://www.sfgate.com/cgi-bin/article.cgi?f=/chronicle/archive/2004/02/18/FDGS24VKMH1.DTL Michael Pollan. â€Å"The (Agri)Cultural Contradictions of Obesity.† The New York Times Magazine. Oct 12, 2003. http://www.washingtonpost.com/ac2/wp-dyn/A8003-2003Mar10?language=printer http://www.ajcn.org/cgi/content/abstract/79/4/537 http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrieve&db=PubMed&list_uids=15234599&dopt=Abstract

Arguing Abortion Essay

Abortion is a legal and necessary medical procedure to have available in the United States. Despite spiritual, emotional, or physical beliefs, the basic truth of any right or law is that a person is free to express his or her opinion and to fight for causes, provided it does not harm another person. This concept could also be applied to the issue of abortion. Though some may argue that a woman who gets an abortion is, in fact, harming another person, medical research has yet to define personhood as happening in the â€Å"moment of conception.† Personhood (which is what the concept would apply to) is defined as happening in the â€Å"moment of birth† (ProCon.org, 2012). Moreover, it is false to argue â€Å"God† or faith into any topic affecting human rights because not everyone believes the same thing and there is no proof that â€Å"God† exists. Though, there are theories based on scientific research discussing the creation of the universe that could suggest that a universal mind had to be the creator based on the precision and placement of the galaxies. However, there is no proof of this. There is a separation of church and state to keep faith and spirituality out of laws that govern lives. The Bible is faith, but the Constitution is law. The Bible is not the governing law of the United States. Therefore, the argument that â€Å"God† says abortion is not allowed is invalid. Incidentally, a research article from ProCon.org provides information on the topic of abortion, among many other controversial topics. The main focus of this website is to analyze critically a topic and provide the good and the ugly points of view. On the issue of abortion it offers several pro-life arguments and pro-choice arguments along with video clips and statistics to back up their evidence. Another argument is that abortion goes directly against the intentions of the founding fathers (as stated in the Declaration of Independence). The argument uses the word â€Å"Creator†, most likely indicating a religious connotation. There are two things to consider in the rebuttal of this argument. One, as previously stated, religion has no business affecting the law of human beings because human beings are different, and in this country are blessed with the right to believe what they will. The second is that with all things comes change. The Declaration of Independence was written a very long time ago and though it’s basic message comes through strong and still applies to this day, it is important to consider the evolution of society since then. Consequently, in this society there is friction over many issues. Abortion is just one of them. There are several arguments for and against abortion. Based on the evidence found through research it has been determined that abortion is legal and necessary for basic human rights. In the court case Roe v. Wade, the 7–2 Supreme Court decision that found a constitutional right to privacy that in turn meant a pregnant woman was entitled to have an abortion until the end of the first trimester of pregnancy without interference by any state (The Daily Beast, 2012). This case supports the right for women to have privacy in their medical endeavors as well as allows women the opportunity to choose what they do with their body and it’s parts. References ProCon.org. (2012). Abortion ProCon.org. Retrieved from http://abortion.procon.org /#Background ProCon.org. (2012). Theoretical experts. Retrieved from http://euthanasia.procon.org /credibility-ranking.php Sanger, L. (n.d.). Citizenium blog. Retrieved from http://blog.citizendium.org/?p=383 The Daily Beast. (2012). Ineractive: readers share their views. Retrieved from http:// www.thedailybeast.com/articles/2013/01/04/interactive-readers-share-their- views-on-and-stories-about-abortion.html

Asc 330-10

October 13, 2011 330 Inventory 10 Overall 330-10-00 Status Note: General Note The Status Section identifies changes to this Subtopic resulting from Accounting Standards Updates. The Section provides references to the affected Codification content and links to the related Accounting Standards Updates. Nonsubstantive changes for items such as editorial, link and similar corrections are included separately in Maintenance Updates. General 330-10-00-1 330- 10-00No updates have been made to this subtopic. 330-10-05 Overview and BackgroundNote: General Note The Overview and Background Section provides overview and background material for the guidance contained in the Subtopic. It does not provide the historical background or due process. It may contain certain material that users generally consider useful to understand the typical situations addressed by the standards. The Section does not summarize the accounting and reporting requirements. General 330-10-05330-10-05-1 The Inventory Topic addresses the accounting principles and reporting practices applicable to inventory. 30-10-05330-10-05-2 An inventory has financial significance because revenues may be obtained from its sale, or from the sale of the goods or services in the production of which it is used. Normally such revenues arise in a continuous repetitive process or cycle of operations in which goods are acquired, created, and sold, and further goods are acquired for additional sales. 330-10-05330-10-05-3 Thus, the inventory at any given date is the balance of costs applicable to goods on hand remaining after the matching of absorbed costs with concurrent revenues.This balance is appropriately carried to future periods provided it does not exceed an amount properly chargeable against the revenues expected to be obtained from ultimate disposition of the goods carried forward. In practice, this balance is determined by the process of pricing the articles included in the inventory. 330-10-10 Objectives Note: Gene ral Note The Objectives Section provides the high-level objectives that the Subtopic is intended to accomplish or attain. The Section does not summarize or discuss the main principles of accounting and reporting requirements.General 330-10-10330-10-10-1 A major objective of accounting for inventories is the proper determination of income through the process of matching appropriate costs against revenues. 330-10-15 Scope and Scope Exceptions Note: General Note The Scope and Scope Exceptions Section outlines the items (for example, the entities, transactions, instruments, or events) to which the guidance in the Subtopic does or does not apply. In some cases, the Section may contain definitional or other text to frame the scope. General > Overall GuidanceThe Scope Section of the Overall Subtopic establishes the pervasive scope for the Inventory Topic. 330-10-15330-10-15-1 > Entities The guidance in the Inventory Topic applies to all entities, with the following qualifications. Th e guidance in this Topic is not necessarily applicable to the following entities: 330-10-15330-10-15-2 330-10-15330-10-15-3 a. Not-for-profit entities (NFPs) b. Regulated utilities. 330-10-20 Glossary Note: General Note The Master Glossary contains all terms identified as glossary terms throughout the Codification.Clicking on any term in the Master Glossary will display where the term is used. The Master Glossary may contain identical terms with different definitions, some of which may not be appropriate for a particular Subtopic. For any particular Subtopic, users should only use the glossary terms included in the particular Subtopic Glossary Section (Section 20). Direct Effects of a Change in Accounting Principle Those recognized changes in assets or liabilities necessary to effect a change in accounting principle. An example of a irect effect is an adjustment to an inventory balance to effect a change in inventory valuation method. Related changes, such as an effect on deferred i ncome tax assets or liabilities or an impairment adjustment resulting from applying the lower-of-cost-or-market test to the adjusted inventory balance, also are examples of direct effects of a change in accounting principle. Inventory The aggregate of those items of tangible personal property that have any of the following characteristics: a. Held for sale in the ordinary course of business b.In process of production for such sale c. To be currently consumed in the production of goods or services to be available for sale. The term inventory embraces goods awaiting sale (the merchandise of a trading concern and the finished goods of a manufacturer), goods in the course of production (work in process), and goods to be consumed directly or indirectly in production (raw materials and supplies). This definition of inventories excludes long-term assets subject to depreciation accounting, or goods which, when put into use, will be so classified.The fact that a depreciable asset is retired from regular use and held for sale does not indicate that the item should be classified as part of the inventory. Raw materials and supplies purchased for production may be used or consumed for the construction of long-term assets or other purposes not related to production, but the fact that inventory items representing a small portion of the total may not be absorbed ultimately in the production process does not require separate classification.By trade practice, operating materials and supplies of certain types of entities such as oil producers are usually treated as inventory. Market As used in the phrase lower of cost or market, the term market means current replacement cost (by purchase or by reproduction, as the case may be) provided that it meets both of the following conditions: a. Market shall not exceed the net realizable value b. Market shall not be less than net realizable value reduced by an allowance for an approximately normal profit margin.Net Realizable Value Estima ted selling price in the ordinary course of business less reasonably predictable costs of completion and disposal. 330-10-30 Initial Measurement Note: General Note The Initial Measurement Section provides guidance on the criteria and amounts used to measure a particular item at the date of initial recognition. General > Cost Basis 330-10-30330-10-30-1 The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset.As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. It is understood to mean acquisition and production cost, and its determination involves many considerations. 330-10-30330-10-30-2 Although principles for the determination of inventory costs may be easily stated, their application, particularly to such inventory items as work in process and finished goods, is difficult because of the variety of considerations in the allocation of costs and charges. 30-10-30330-10-30-3 For example, variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilities. However, the allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Normal capacity refers to a range of production levels. Normal capacity is the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.Some variation in production levels from period to period is expected and establishes the range of normal capacity. 330-10-30330-10-30-4 The range of normal capacity will vary based on business- and industry-specific factors. Judgment is required to determine when a production level is abnormally low (that is, outside the range of expected variation in production). 330-10-30330-10-30-5 Examples of factors that might be anticipated to cause an abnormally low production level include significantly reduced demand, labor and materials shortages, and unplanned facility or equipment downtime. 30-10-30330-10-30-6 The actual level of production may be used if it approximates normal capacity. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production shall be decreased so that inventories are not measured above cost. The amount of fixed overhead allocated to each unit of production shall not be increased as a consequence of abnormally low production or idle plant. 330-10-30330-10-30-7 Unallocated overheads shall be recognized as an expense in the period in which they are incurred.Other items such as abnormal freight, handling costs, and amounts of wasted materials (spoilage) require treatment as current period charges rather than as a portion of the inventory c ost. 330-10-30330-10-30-8 Also, under most circumstances, general and administrative expenses shall be included as period charges, except for the portion of such expenses that may be clearly related to production and thus constitute a part of inventory costs (product charges). Selling expenses constitute no part of inventory costs. The exclusion of all overheads from inventory costs does not constitute an accepted accounting procedure.The exercise of judgment in an individual situation involves a consideration of the adequacy of the procedures of the cost accounting system in use, the soundness of the principles thereof, and their consistent application. General and administrative expenses ordinarily shall be charged to expense as incurred but may be accounted for as contract costs under the completed-contract method of accounting or, in some circumstances, as indirect contract costs by government contractors. > Determination of Inventory Costs 30-10-30330-10-30-9 Cost for invent ory purposes may be determined under any one of several assumptions as to the flow of cost factors, such as first-in first-out (FIFO), average, and last-in first-out (LIFO). The major objective in selecting a method should be to choose the one which, under the circumstances, most clearly reflects periodic income. 330-10-30330-10-30-10 The cost to be matched against revenue from a sale may not be the identified cost of the specific item which is sold, especially in cases in which similar goods are purchased at different times and at different prices.While in some lines of business specific lots are clearly identified from the time of purchase through the time of sale and are costed on this basis, ordinarily the identity of goods is lost between the time of acquisition and the time of sale. 330-10-30330-10-30-11 Accordingly, if the materials purchased in various lots are identical and interchangeable, the use of identified cost of the various lots may not produce the most useful finan cial statements.This fact has resulted in the general acceptance of several assumptions with respect to the flow of cost factors such as FIFO, average, and LIFO to provide practical bases for the measurement of periodic income. 330-10-30330-10-30-12 Standard costs are acceptable if adjusted at reasonable intervals to reflect current conditions so that at the balance-sheet date standard costs reasonably approximate costs computed under one of the recognized bases.In such cases descriptive language shall be used which will express this relationship, as, for instance, â€Å"approximate costs determined on the first-in first-out basis,† or, if it is desired to mention standard costs, â€Å"at standard costs, approximating average costs. † 330-10-30330-10-30-13 In some situations a reversed mark-up procedure of inventory pricing, such as the retail inventory method, may be both practical and appropriate.The business operations in some cases may be such as to make it desirab le to apply one of the acceptable methods of determining cost to one portion of the inventory or components thereof and another of the acceptable methods to other portions of the inventory. 330-10-30330-10-30-14 Although selection of the method should be made on the basis of the individual circumstances, financial statements will be more useful if uniform methods of inventory pricing are adopted by all companies within a given industry. >Consistency Required 330-10-30330-10-30-15 While the basis of stating inventories does not affect the overall gain or loss on the ultimate disposition of inventory items, any inconsistency in the selection or employment of a basis may improperly affect the periodic amounts of income or loss. Because of the common use and importance of periodic statements, a procedure adopted for the treatment of inventory items shall be consistently applied in order that the results reported may be fairly allocated between years. >Purchases and Sales of Invent ory with the Same Counterparty 330-10-30330-10-30-16 For a discussion of the initial measurement of inventory purchased from an entity to which it also sells inventory in the same line of business, see paragraphs 845-10-55-10 through 55-26. > Costs Resulting from Share-Based Payment Transactions See paragraph 718-10-25-2 for a discussion of share-based payment capitalized as a part of inventory. 330-10-30330-10-30-17 > Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed 30-10-30330-10-30-18 See Sections 985-20-25 and 985-20-35 and paragraphs 985-20-55-2 through 55-3 for a discussion of accounting for the costs of producing and acquiring computer software, including software that is marketed as part of a product or process. > Costs of Certain Construction-Type and Production-Type Contracts 330-10-30330-10-30-19 See Section 605-35-25 for a discussion of accounting for contract and precontract costs of certain construction-type and production-type contracts. 3 30-10-35 Subsequent MeasurementNote: General Note The Subsequent Measurement Section provides guidance on an entity’s subsequent measurement and subsequent recognition of an item. Situations that may result in subsequent changes to carrying amount include impairment, fair value adjustments, depreciation and amortization, and so forth. General > Adjustments to Lower of Cost or Market 330-10-35330-10-35-1 A departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as their cost.Where there is evidence that the utility of goods, in their disposal in the ordinary course of business, will be less than cost, whether due to physical deterioration, obsolescence, changes in price levels, or other causes, the difference shall be recognized as a loss of the current period. This is generally accomplished by stating such goods at a lower level commonly designated as market market. 330-10-35330-10-35-2 The cost basis of record ing inventory ordinarily achieves the objective of a proper matching of costs and revenues.However, under certain circumstances cost may not be the amount properly chargeable against the revenues of future periods. A departure from cost is required in these circumstances because cost is satisfactory only if the utility of the goods has not diminished since their acquisition; a loss of utility shall be reflected as a charge against the revenues of the period in which it occurs. Thus, in accounting for inventories, a loss shall be recognized whenever the utility of goods is impaired by damage, deterioration, obsolescence, changes in price levels, or other causes.The measurement of such losses shall be accomplished by applying the rule of pricing inventories at the lower of cost or market. This provides a practical means of measuring utility and thereby determining the amount of the loss to be recognized and accounted for in the current period. 330-10-35330-10-35-3 The rule of lower of cost or market is intended to provide a means of measuring the residual usefulness of an inventory expenditure.The term market is therefore to be interpreted as indicating utility on the inventory date and may be thought of in terms of the equivalent expenditure which would have to be made in the ordinary course at that date to procure corresponding utility. 330-10-35330-10-35-4 As a general guide, utility is indicated primarily by the current cost of replacement of the goods as they would be obtained by purchase or reproduction. In applying the rule, however, judgment must always be exercised and no loss shall be recognized unless the evidence indicates clearly that a loss has been sustained.There are therefore exceptions to such a standard. Replacement or reproduction prices would not be appropriate as a measure of utility when the estimated sales value, reduced by the costs of completion and disposal, is lower, in which case the realizable value so determined more appropriately measures utility. 330-10-35330-10-35-5 Furthermore, when the evidence indicates that cost will be recovered with an approximately normal profit upon sale in the ordinary course of business, no loss shall be recognized even though replacement or reproduction costs are lower.This might be true, for example, in the case of production under firm sales contracts at fixed prices, or when a reasonable volume of future orders is assured at stable selling prices. 330-10-35-6 If inventory has been the hedged item in a fair value hedge, the inventory’s cost basis used in the lower 330- 10-35of cost or market accounting shall reflect the effect of the adjustments of its carrying amount made pursuant to paragraph 815-25-35-1(b). 330-10-35330-10-35-7 Because of the many variations of circumstances encountered in inventory pricing, the definition of market is intended as a guide rather than a literal rule.It shall be applied realistically in light of the objectives expressed in this Subtopi c and with due regard to the form, content, and composition of the inventory. For example, the retail inventory method, if adequate markdowns are currently taken, accomplishes the objectives described herein. It is also recognized that, if a business is expected to lose money for a sustained period, the inventory shall not be written down to offset a loss inherent in the subsequent operations. 30-10-35330-10-35-8 Depending on the character and composition of the inventory, the rule of lower of cost or market may properly be applied either directly to each item or to the total of the inventory (or, in some cases, to the total of the components of each major category). The method shall be that which most clearly reflects periodic income. 330-10-35330-10-35-9 The purpose of reducing inventory to market is to reflect fairly the income of the period. The most common practice is to apply the lower of cost or market rule separately to each item of the inventory.However, if there is only on e end-product category the cost utility of the total stock—the inventory in its entirety—may have the greatest significance for accounting purposes. Accordingly, the reduction of individual items to market may not always lead to the most useful result if the utility of the total inventory to the business is not below its cost. This might be the case if selling prices are not affected by temporary or small fluctuations in current costs of purchase or manufacture. 30-10-35330-10-35-10 Similarly, where more than one major product or operational category exists, the application of the lower of cost or market rule to the total of the items included in such major categories may result in the most useful determination of income. When no loss of income is expected to take place as a result of a reduction of cost prices of certain goods because others forming components of the same general categories of finished products have a market equally in excess of cost, such components need not be adjusted to market to the extent that they are in balanced quantities.Thus, in such cases, the rule of lower of cost or market, may be applied directly to the totals of the entire inventory, rather than to the individual inventory items, if they enter into the same category of finished product and if they are in balanced quantities, provided the procedure is applied consistently from year to year. 330-10-35330-10-35-11 To the extent, however, that the stocks of particular materials or components are excessive in relation to others, the more widely recognized procedure of applying the lower of cost or market to the individual items constituting the excess shall be followed.This would also apply in cases in which the items enter into the production of unrelated products or products having a material variation in the rate of turnover. Unless an effective method of classifying categories is practicable, the rule shall be applied to each item in the inventory. 330-10-35330-10 -35-12 See paragraphs 330-10-30-9 through 30-14 for guidance on inventory pricing methods. > Loss Due to Sales Incentive 330-10-35330-10-35-13 The offer of a sales incentive that will result in a loss on the sale of a product may indicate an impairment of existing inventory under this Subtopic. gt; New Cost Basis 330-10-35-14 In the case of goods which have been written down below cost at the close of a fiscal year, such 330- 10-35reduced amount is to be considered the cost for subsequent accounting purposes. Paragraph 270-10-45-6 provides guidance for preparing interim financial statements. > Stating Inventories Above Cost 330-10-35330-10-35-15 Only in exceptional cases may inventories properly be stated above cost.For example, precious metals having a fixed monetary value with no substantial cost of marketing may be stated at such monetary value; any other exceptions must be justifiable by inability to determine appropriate approximate costs, immediate marketability at quote d market price, and the characteristic of unit interchangeability. 330-10-35330-10-35-16 It is generally recognized that income accrues only at the time of sale, and that gains may not be anticipated by reflecting assets at their current sales prices.However, exceptions for reflecting assets at selling prices are permissible for both of the following: a. Inventories of gold and silver, when there is an effective government-controlled market at a fixed monetary value b. Inventories representing agricultural, mineral, and other products, with all of the following criteria: 1. Units of which are interchangeable 2. Units of which have an immediate marketability at quoted prices 3. Units for which appropriate costs may be difficult to obtain.Where such inventories are stated at sales prices, they shall be reduced by expenditures to be incurred in disposal. > Purchase Commitments 330-10-35330-10-35-17 A net loss on firm purchase commitments for goods for inventory, measured in the same way as are inventory losses, shall be recognized in the accounts. The recognition in a current period of losses arising from the decline in the utility of cost expenditures is equally applicable to similar losses which are expected to arise from firm, uncancelable, and unhedged commitments for the future purchase of inventory items. 30-10-35330-10-35-18 The utility of such commitments is not impaired, and hence there is no loss, when the amounts to be realized from the disposition of the future inventory items are adequately protected by firm sales contracts or when there are other circumstances that reasonably assure continuing sales without price decline. > Accounting Changes 330-10-35330-10-35-19 Paragraph 250-10-55-1 explains that a change in composition of the elements of cost included in inventory is an accounting change and provides related guidance. 30-10-35330-10-35-20 The definition of direct effects of a change in accounting principle includes a change in inventory va luation methods as an accounting change. > Vendor Accounting for Consideration Given to a Customer or Reseller See Subtopic 605-50 for a discussion of consideration given by a vendor to a customer. 330-10-35330-10-35-21 > Customer or Reseller Accounting for Consideration Received from a Vendor 330-10-35330-10-35-22 See Section 605-50 for a discussion of accounting by a customer (including a reseller) for consideration received from a vendor. >Interim Financial Reporting See paragraph 270-10-45-6 for a discussion of practices used in determining costs of inventory on an 330-10-35330-10-35-23 interim basis. 330-10-45 Other Presentation Matters Note: General Note The Other Presentation Matters Section provides guidance on other presentation matters not addressed in the Recognition, Initial Measurement, Subsequent Measurement, and Derecognition Sections. Other presentation matters may include items such as current or long-term balance sheet classification, cash flow presentatio n, earnings per share matters, and so forth.The FASB Codification also contains Presentation Topics, which provide guidance for general presentation and display items. See those Topics for general guidance. General > Change in Composition is Accounting Change 330-10-45330-10-45-1 See paragraph 330-10-35-19 for guidance on dealing with the effects of an accounting change resulting from a change in elements of cost included in inventory inventory. > Costs of Certain Construction-Type and Production-Type Contracts 330-10-45330-10-45-2 See paragraphs 605-35-45-3 through 45-5 for guidance on presenting contract costs of certain construction-type and production-type contracts. 30-10-50 Disclosure Note: General Note The Disclosure Section provides guidance regarding the disclosure in the notes to financial statements. In some cases, disclosure may relate to disclosure on the face of the financial statements. General > Basis for Stating Inventories 330-10-50330-10-50-1 The basis of stating inventories shall be consistently applied and shall be disclosed in the financial statements; whenever a significant change is made therein, there shall be disclosure of the nature of the change and, if material, the effect on income. A change of such basis ay have an important effect upon the interpretation of the financial statements both before and after that change, and hence, in the event of a change, a full disclosure of its nature and of its effect, if material, upon income shall be made. > Losses from Application of Lower of Cost or Market 330-10-50330-10-50-2 When substantial and unusual losses result from the application of the rule of lower of cost or market it will frequently be desirable to disclose the amount of the loss in the income statement as a charge separately identified from the consumed inventory costs described as cost of goods sold. gt; Goods Stated Above Cost Where goods are stated above cost this fact shall be fully disclosed. 330-10-50330-10-5 0-3 > Stating Inventories at Sales Prices 330-10-50330-10-50-4 Where such inventories are stated at sales prices, the use of such basis shall be fully disclosed in the financial statements. > Losses on Firm Purchase Commitments 330-10-50330-10-50-5 The amounts of net losses on firm purchase commitments accrued under paragraph 330-10-35-17 shall be disclosed separately in the income statement. >Disclosure of Significant Estimates 330-10-50330-10-50-6 See Example 1 (paragraph 330-10-55-8) for an illustration of the disclosure of significant estimates applicable to inventories as required by Section 275-10-50. 330-10-55 Implementation Guidance and Illustrations Note: General Note The Implementation Guidance and Illustrations Section contains implementation guidance and illustrations that are an integral part of the Subtopic. The implementation guidance and illustrations do not address all possible variations.Users must consider carefully the actual facts and circumstances in r elation to the requirements of the Subtopic. General 330-10-55330-10-55-1 This Section, which is an integral part of the requirements of this Topic, provides general guidance to be used in accounting for inventory Certain assumptions have been made to simplify the computations and focus on the inventory. issue at hand in each illustration. > >> Implementation Guidance Market Decline in Interim Period 30-10-55330-10-55-2 If near-term price recovery is uncertain, a decline in the market price of inventory below cost during an interim period shall be accounted for as follows. Paragraph 270-10-45-6 requires that the inventory be written down to the lower of cost or market unless either of the following conditions is met: a. Substantial evidence exists that market prices will recover before the inventory is sold. b. In the case of last-in, first-out (LIFO) inventory, substantial evidence exists that inventory amounts will be restored by year-end. A write-down is generally requir ed nless the decline is due to seasonal price fluctuations. >> Costs Capitalized to Inventory for Tax Purposes 330-10-55330-10-55-3 The following provides guidance as to whether the types of costs that are required to be allocated to inventories for tax purposes under the Uniform Capitalization Rules for Inventory under the Tax Reform Act of 1986 would be capitalizable under generally accepted accounting principles (GAAP) and, if so, whether the costing method required for tax purposes is a preferable method for purposes of justifying a change in accounting principle. 30-10-55330-10-55-4 The fact that a cost is capitalizable for tax purposes does not, in itself, indicate that it is preferable, or even appropriate, to capitalize that cost for financial reporting purposes. Certain of the additional costs that are required to be capitalized for tax purposes may also be capitalizable for financial reporting purposes, depending on factors such as the nature of the entity's operatio n and industry practice. That determination, however, can only be made after an analysis of the individual facts and circumstances. gt;;gt; ;gt;;gt;;gt; Capitalizing Pension and Other Postretirement Cost Into Inventory Interest Cost Component 330-10-55330-10-55-5 A fundamental aspect of Sections 715-30-35 and 715-60-35 is to combine or aggregate the various pension and other postretirement cost components, including service cost, interest cost, expected return on plan assets, and amortization of all of the following items recognized in accumulated other comprehensive income: a. Net transition asset or obligation b. Prior service cost or credit c.Net gain or loss. 330-10-55330-10-55-6 In the aggregate, net periodic pension and other postretirement cost is viewed as an element of employee compensation. Therefore, when it is appropriate to capitalize employee compensation in connection with the construction or production of an asset, the net periodic pension and other postretirement co st applicable to the pertinent employees for the period (including interest cost), not individual components of that amount, is the relevant amount. ;gt;;gt;;gt; Net Periodic Pension Income 30-10-55330-10-55-7 If an entity's cost allocation process capitalizes net periodic pension cost as part of the cost of inventory or other assets, net periodic pension income also shall be capitalized, thereby reducing the total employee compensation and other costs being capitalized. > >> Illustrations Example 1: Disclosure of Significant Estimates 330-10-55330-10-55-8 This Example illustrates the guidance in paragraph 330-10-50-6 regarding the disclosure of significant estimates related to inventory. Entity A manufactures high technology stereo equipment.In June 19X7, one of Entity A's competitors introduced a new model stereo system with the same features as Entity A's Model A. The competitor's version sells for significantly less than Entity A's suggested retail price for Model A. Th e introduction of this product resulted in a sharp decrease in the sales volume of Model A. As of December 31, 19X7, Entity A has accumulated significant inventory quantities beyond its normal short-term needs of its Model A system. Inventory for Model A ($6 million) represents approximately 20 percent of Entity A's inventory at that date.The remaining 80 percent of Entity A's inventory consists of products experiencing only normal competitive pressures. Entity A has established provisions for obsolescence for this latter group of products in the normal course of business. 330-10-55330-10-55-9 Management has developed a program to provide substantial dealer incentives on purchases of the Model A, which it expects will result in the sale of this inventory in the near term. Because of the existing high profit margin on its stereo systems, Entity A would continue to earn a marginal profit on sales of the Model A under the new program.It is also reasonably possible, however, that the pr ogram will not be wholly successful, and, accordingly, a material loss could ultimately result on the disposal of the inventory. 330-10-55330-10-55-10 The entity would disclose the following. As of December 31, 19X7, some portion of $6 million of inventory of one of the entity's products is in excess of Entity A's current requirements based on the recent level of sales. Management has developed a program to reduce this inventory to desired levels over the near term and believes no loss will be incurred on its disposition.No estimate can be made of a range of amounts of loss that are reasonably possible should the program not be successful. 330-10-55330-10-55-11 This situation meets the criteria for disclosure under paragraph 275-10-50-8 because circumstances that existed at the date of the financial statements, including the decreasing sales volume and excessive quantities of inventory of Model A, make it at least reasonably possible that management's plan to liquidate its excess in ventory without a loss will be less than fully successful and that such an outcome would have a near-term material effect on the entity's financial statements. 30-10-55330-10-55-12 In this Example, Entity A discloses the existence of potentially excess quantities of inventory at the date of the financial statements and indicates that the uncertainty is expected to be resolved in the near term. The disclosure is intended to provide users with insight into management's assessment of recoverability of the cost of inventories existing at the date of the financial statements.Although disclosure of the $6 million carrying amount of the inventory of Model A is not required because, based on the facts presented, $6 million does not constitute a reasonable estimate of loss on the disposal of the inventory or the maximum amount in an estimated range of loss, disclosure of this amount is not misleading and may provide useful information. 330-10-55330-10-55-13 Discussion of Entity A's provision for obsolescence for the remaining 80 percent of its inventory is not required because it is not considered reasonably possible that additional aterial losses on this inventory will occur. 330-10-75 XBRL Elements Note: General Note This section contains a list of XBRL elements that reference paragraphs in this Subtopic. For additional details regarding changes to the development version of the US GAAP Financial Reporting Taxonomy, refer to the FASB taxonomy review and comment system on the FASB web site (www. fasb. org). Adjustments for Change in Accounting Principle [Domain]Element Name: ChangeInAccountingPrincipleMember This XBRL element references the following paragraph(s)/term(s) in this Subtopic: Direct Effects of a Change in Accounting Principle This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): Accounting Change Change in Accounting Principle Indirect Effects of a Change in Accounting Principle 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-1(b)(1)-(2) 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-2Adjustments for New Accounting Pronouncement [Member] Element Name: NewAccountingPronouncementMember This XBRL element references the following paragraph(s)/term(s) in this Subtopic: Direct Effects of a Change in Accounting Principle This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): Accounting Change Change in Accounting Principle Indirect Effects of a Change in Accounting Principle Inventory AdjustmentsElement Name: InventoryAdjustments This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > 50 Disclosure > General, 50-1 This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6(b)) Inventory Finished Goods , Policy [Policy Text Block] Element Name: InventoryFinishedGoodsPolicy This XBRL element references the ollowing paragraph(s)/term(s) in this Subtopic: Inventory 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-2 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-3 270 Interim Reporting > 10 Overall > 45 Other Presentation > General, 45-12 270 Interim Reporting > 10 Overall > 45 Other Presentation > General, 45-13 270 Interim Reporting > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 0-01. (b)(6)) Selling, General and Administrative Expense Element Name: SellingGeneralAndAdministrativeExpense This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > 30 Initial Measurement > General, 30-8 This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): 225 Income Statement > 10 Overall > S99 SEC Materials > General, S99-2(SX 210. 5-03. 4) 2011-01Type of Change [Domain] (Deprecated 2011-01-31)Element Name: TypeOfChangeDomain This XBRL element references the following paragraph(s)/term(s) in this Subtopic: Direct Effects of a Change in Accounting Principle This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): Accounting Change Change in Accounting Principle Indirect Effects of a Change in Accounting Principle Retrospective Application 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-1(a) 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-2 250 Accounting Changes and Error Corrections > 10 Overall > 50 Disclosure > General, 50-3 250 Accounting Changes and Error Corrections > 10 Overall > S99 SEC Materials > General, S99-5(SAB TOPIC 11. M) 330-10-S00 Status Note: General Note The Status Section identifies changes to this Subtopic resulting from Accounting Standards Updates.The Section provides references to the affected Codification content and links to the related Accounting Standards Updates. Nonsubstantive changes for items such as editorial, link and similar corrections are included separately in Maintenance Updates. General 330-10-S00330-10-S00-1 Paragraph 330-10-S35-2 The following table identifies the changes made to this Subtopic. Action Amended Accounting Standards Update Accounting Standards Update No. 2009-07 Date 09/15/2009 330-10-S35 Subsequent Measurement Note: General Note The Subsequent Measurement Section provides guidance on an entity’s subsequent measurement and subsequent recognition of an item.Situations that may result in subsequent changes to carrying amount include impairment, fair value adjustments, depreciation and amortization, and so forth. General > Restoration of Previously Written-Down Inventory Value 330-10-S35330-10-S35-1 See paragraph 330- 10-S99-2, SAB Topic 5. BB, for SEC Staff views on restoration of inventory value following a previous write-down to lower of cost or market. > Classification of Inventory Markdowns and Other Costs Associated with a Restructuring 330-10-S35330-10-S35-2 See paragraph 420-10-S99-3, SEC Observer Comment: Classification of Inventory Markdowns and Other Costs Associated with Restructuring, for SEC Staff views on income statement classification of inventory markdowns associated with a restructuring. 330-10-S45 Other Presentation MattersNote: General Note The Other Presentation Matters Section provides guidance on other presentation matters not addressed in the Recognition, Initial Measurement, Subsequent Measurement, and Derecognition Sections. Other presentation matters may include items such as current or long-term balance sheet classification, cash flow presentation, earnings per share matters, and so forth. The FASB Codification also contains Presentation Topics, which provide guida nce for general presentation and display items. See those Topics for general guidance. General > Separate Presentation of Classes of Inventory 330-10-S45-1 See paragraph 210-10-S99-1, Regulation S-X Rule 5-02. 6, for requirements for inventory presentation 330- 10-S45on the balance sheet. 30-10-S50 Disclosure Note: General Note The Disclosure Section provides guidance regarding the disclosure in the notes to financial statements. In some cases, disclosure may relate to disclosure on the face of the financial statements. General > Inventory Disclosure Requirements See paragraph 210-10-S99-1, Regulation S-X Rules 5-02. 6(b) through (d), for inventory disclosure 330-10-S50330-10-S50-1 requirements. > LIFO Liquidations 330-10-S50330-10-S50-2 See paragraph 330-10-S99-3, SAB Topic 11. F, for SEC Staff views on disclosure of income realized as a result of a last-in, first-out (LIFO) liquidation. 330-10-S55 Implementation Guidance and IllustrationsNote: General Note The Implementat ion Guidance and Illustrations Section contains implementation guidance and illustrations that are an integral part of the Subtopic. The implementation guidance and illustrations do not address all possible variations. Users must consider carefully the actual facts and circumstances in relation to the requirements of the Subtopic. General > LIFO Inventory Practices 330-10-S55330-10-S55-1 See paragraph 330-10-S99-1, SAB Topic 5. L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices. 330-10-S75 XBRL Elements Note: General Note This section contains a list of XBRL elements that reference paragraphs in this Subtopic.For additional details regarding changes to the development version of the US GAAP Financial Reporting Taxonomy, refer to the FASB taxonomy review and comment system on the FASB web site (www. fasb. org). Effect of LIFO Inventory Liquidation on Income Element Name: EffectOfLIFOInventoryLiquidationOnIncome This XBRL element references the fol lowing paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S50 Disclosure > General, S50-2 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-3 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-3(SAB TOPIC 11. F) Inventory, Raw Materials, Net of ReservesElement Name: InventoryRawMaterialsNetOfReserves This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-2(SAB TOPIC 5. BB) This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6(a)(4)) Inventory, Supplies, Net of Reserves Element Name: InventorySuppliesNetOfReserves This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-2(SAB TOPIC 5. BB) This XBRL elemen t references the following paragraph(s)/term(s) in other Subtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6(a)(5))Inventory, Work in Process and Raw Materials, Net of Reserves Element Name: InventoryWorkInProcessAndRawMaterialsNetOfReserves This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-2(SAB TOPIC 5. BB) This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6(a)(3),(4)) Inventory, Work in Process, Net of Reserves Element Name: InventoryWorkInProcessNetOfReserves This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-2(SAB TOPIC 5.BB) This XBRL element references the following paragraph(s)/term(s) in other S ubtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6(a)(3)) Other Inventory, Net of Reserves Element Name: OtherInventoryNetOfReserves This XBRL element references the following paragraph(s)/term(s) in this Subtopic: 330 Inventory > 10 Overall > S99 SEC Materials > General, S99-2(SAB TOPIC 5. BB) This XBRL element references the following paragraph(s)/term(s) in other Subtopic(s): 210 Balance Sheet > 10 Overall > S99 SEC Materials > General, S99-1(SX 210. 5-02. 6) 330-10-S99 SEC Materials Note: General Note As more fully described in the Notice to Constituents, the Codification includes selected SEC and SEC Staff content for reference by ublic companies. The Codification does not replace or affect how the SEC or SEC Staff issues or updates SEC content. SEC Staff content does not constitute Commission-approved rules or interpretations of the SEC. General > >> >>> SEC Staff Guidance Staff Accountin g Bulletins SAB Topic 5. L, LIFO Inventory Practices The following is the text of SAB Topic 5. L, LIFO Inventory Practices. 330-10-S99330-10-S99-1 Facts: On November 30, 1984, AcSEC and its Task Force on LIFO Inventory Problems (task force) issued a paper, â€Å"Identification and Discussion of Certain Financial Accounting and Reporting Issues Concerning LIFO Inventories. This paper identifies and discusses certain financial accounting and reporting issues related to the last-in, first-out (LIFO) inventory method for which authoritative accounting literature presently provides no definitive guidance. For some issues, the task force's advisory conclusions recommend changes in current practice to narrow the diversity which the task force believes exists. For other issues, the task force's advisory conclusions recommend that current practice should be continued for financial reporting purposes and that additional accounting guidance is unnecessary. Except as otherwise noted in the pap er, AcSEC generally supports the task force's advisory conclusions.As stated in the issues paper, â€Å"Issues papers of the AICPA's accounting standards division are developed primarily to identify financial accounting and reporting issues the division believes need to be addressed or clarified by the Financial Accounting Standards Board. † On February 6, 1985, the FASB decided not to add to its agenda a narrow project on the subject of LIFO inventory practices. Question 1: What is the SEC staff's position on the issues paper? Interpretive Response: In the absence of existing authoritative literature on LIFO accounting, the staff believes that registrants and their independent accountants should look to the paper for guidance in determining what constitutes acceptable LIFO accounting practice. FN11 In this connection, the staff considers the paper to be an accumulation of existing cceptable LIFO accounting practices which does not establish any new standards and does not div erge from GAAP. FN11 In ASR 293 (July 2, 1981) see Financial Reporting Codification 205, the Commission expressed its concerns about the inappropriate use of Internal Revenue Service (IRS) LIFO practices for financial statement preparation. Because the IRS amended its regulations concerning the LIFO conformity rule on January 13, 1981, allowing companies to apply LIFO differently for financial reporting purposes than for tax purposes, the Commission strongly encouraged registrants and their independent accountants to examine their financial reporting LIFO practices.In that release, the Commission acknowledged the â€Å"task force which has been established by AcSEC to accumulate information about [LIFO] application problems† and noted that â€Å"This type of effort, in addition to self-examination [of LIFO practices] by individual registrants, is appropriate†¦ † The staff also believes that the advisory conclusions recommended in the issues paper are generally con sistent with conclusions previously expressed by the Commission, such as: 1. Pooling-paragraph 4-6 of the paper discusses LIFO inventory pooling and concludes â€Å"establishing separate pools with the principal objective of facilitating inventory liquidations is unacceptable. In Accounting and Auditing Enforcement Release 35, August 13, 1984, the Commission stated that it believes that the Company improperly realigned its LIFO pools in such a way as to maximize the likelihood and magnitude of LIFO liquidations and thus, overstated net income. 2. New Items-paragraph 4-27 of the paper discusses determination of the cost of new items and concludes â€Å"if the double extension or an index technique is used, the objective of LIFO is achieved by reconstructing the base year cost of new items added to existing pools. † In ASR 293, the Commission stated that when the effects of inflation on the cost of new products are measured by making a comparison with current cost as the base- year cost, rather than a reconstructed base-year cost, income is improperly increased.Question 2: If a registrant utilizes a LIFO practice other than one recommended by an advisory conclusion in the issues paper, must the registrant change its practice to one specified in the paper? Interpretive Response: Now that the issues paper is available, the staff believes that a registrant and its independent accountants should re-examine previously adopted LIFO practices and compare them to the recommendations in the paper. In the event that the registrant and its independent accountants conclude that the registrant's LIFO practices are preferable in the circumstances, they should be prepared to justify their position in the event that a question is raised by the staff.Question 3: If a registrant elects to change its LIFO practices to be consistent with the guidance in the issues paper and discloses such changes in accordance with APB Opinion 20 [Subtopic 250-10] will the registrant be requ ested by the staff to explain its past practices and its justification for those practices? Interpretive Response: The staff does not expect to routinely raise questions about changes in LIFO practices which are made to make a company's accounting consistent with the recommendations in the issues paper. >>> SAB Topic 5. BB, Inventory Valuation Allowance The following is the text of SAB Topic 5. BB, Inventory Valuation Allowance. 330-10-S99330-10-S99-2 Facts: ARB 43, Chapter 4, Statement 5 [paragraph 330-10-35-1], specifies that: â€Å"[a] departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as its cost.Where there is evidence that the utility of goods, in their disposal in the ordinary course of business, will be less than cost, whether due to physical obsolescence, changes in price levels, or other causes, the difference should be recognized as a loss of the current period. This is generally accomplished by stating such goods at a lower level commonly designated as market. † Footnote 2 to that same chapter indicates that â€Å"[i]n the case of goods which have been written down below cost at the close of a fiscal period, such reduced amount is to be considered the cost for subsequent accounting purposes. † Lastly, Opinion 20 provides â€Å"inventory obsolescence† as one of the items subject to estimation and changes in estimates under the guidance in paragraphs 10-11 and 31-33 of that Opinion. Question: Does the write-down of inventory to the lower of ost or market, as required by ARB 43 [Section 330-10-35], create a new cost basis for the inventory or may a subsequent change in facts and circumstances allow for restoration of inventory value, not to exceed original historical cost? Interpretive Response: Based on ARB 43, footnote 2, the staff believes that a write-down of inventory to the lower of cost or market at the close of a fiscal period creates a new cost b asis that subsequently cannot be marked up based on changes in underlying facts and circumstances. FN68 FN68 See also disclosure requirement for inventory balances in Rule 5-02(6) of Regulation S-X. >>> SAB Topic 11. F, LIFO LiquidationsThe following is the text of SAB Topic 11. F, LIFO Liquidations. 330-10-S99330-10-S99-3 Facts: Registrant on LIFO basis of accounting liquidates a substantial portion of its LIFO inventory and as a result includes a material amount of income in its income statement which would not have been recorded had the inventory liquidation not taken place. Question: Is disclosure required of the amount of income realized as a result of the inventory liquidation? Interpretive Response: Yes. Such disclosure would be required in order to make the financial statements not misleading. Disclosure may be made either in a footnote or parenthetically on the face of the income statement.

UAE Islands

UAE Islands Man-made islands in Dubai There are several residential projects that are now being implemented in Abu Dhabi and Dubai. First of all, one should speak about the construction of the Palm Islands and the World Islands in Dubai.Advertising We will write a custom research paper sample on UAE Islands specifically for you for only $16.05 $11/page Learn More These projects were implemented in order to solve the problem of beach shortage in the city, beginning in 2003 (Badescu Cathcart 2011, p. 66). At that time, the coastline was not sufficient for construction industry. There was virtually no space that could be filled by office buildings, hotels, restaurants, and so forth. These islands are made of the sand that has been dredged from the bottom of the sea. To a great extent, these artificial islands were supposed to serve the needs of the real estate market which was booming in the UAE (Froelich, 2008, p. 430). It was supposed that the territory could be used fo r various residential projects such as the construction of restaurants, luxury hotels, shopping malls, villas, or sports facilities (Froelich, 2008, p. 430). The islands can be used by various businesses that intend to operate in Dubai. The availability of artificial islands can stimulate the growth of tourism in the UAE. At present, many of the construction projects on the Palm Islands have not been completed. However, there are many people who are willing to settle on the Palm Islands (Roza, 2009, p. 54). They prefer to move to Palm Jumeirah because it has the most developed infrastructure (Roza, 2009, p. 54). These are some of the details that can be identified, but there are several environmental problems that should not be overlooked. First of all, these projects can disrupt the functioning of many marine eco-systems. One should not forget about the erosion of the coastline (Roza, 2009, p. 54). These are the risks that are associated with land reclamation (Roza, 2009, p. 54). O verall, the construction of these artificial islands is one of the most ambitious development projects that are now carried out in the UAE, as more than $ 12 billion have already been spent.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These artificial islands are constructed by the government that wants to stimulate the development of the real estate market in Dubai. The costs associated with these artificial islands can be justified if investors are willing to use the territory. In case the demand for this territory decreases, these artificial islands may become an extra burden for Dubai. These are the main details that can be identified. Masdar City Abu Dhabi has taken a different development approach which is a symbol of the city’s attempt to develop a sustainable and environmentally sensitive socio economic growth plan. It can be described as an arcology or a set of interrelated buildings and infrastructural facilities that can remain sustainable for a long time. Abu Dhabi’s government has instigated a Swiss Village, MASDAR City, an urban green space design, which is a new urban area designed from scratch that will only depend on renewable energy. The designers are using the sun, the desert’s greatest threat, as a great asset for renewable energy. The construction of this complex will require approximately $ 22 billion (Pollalis 2013, p. 253). There are several distinct elements of Masdar City. This arcology will rely primarily on renewable energy sources, and it will not be dependent on fuel or electricity produced in other parts of Abu Dhabi (Pollalis 2013, p. 253). Although Masdar is marketed as green over the top project, it is a way to get the message out into the open, and make people realize that they need to change the way the population thinks. It is not about advertising but about a new way of living and thinki ng. It is isolated, and if you do not fit in, you are not accepted. As for the man-made islands, environmental aspects have been ignored during the urban development process. Decision makers and planners must understand the relation between a built and a natural environment in order to enhance the urban characteristics in a sustainable manner, as these could trigger long-term environmental economic and social impacts (Gret-Regamey ET AL. 2008). It is expected that this artificial complex can provide accommodation to more than sixty thousand people who will be living and working there. This complex will be oriented for the needs of companies that will work on the development of sustainable technologies (Brebbia 2011, p. 37).Advertising We will write a custom research paper sample on UAE Islands specifically for you for only $16.05 $11/page Learn More Masdar City will also be used by research centers and educational organizations. The functioning of this arco logy will be based on the use of sustainable transportation such as E-taxis (Brebbia 2011, p. 37). The private vehicles of employees will not be used on the territory of Masdar City. Also, much attention will be paid to the recycling of waste that will be re-used (Smith 2012, p. 309). This project is carried out by a governmental organization, namely Abu Dhabi Future Energy Company. This organization intends to make Abu Dhabi more sustainable, especially at the time when natural resources are becoming scarce. This is the long-term objective that policy-makers want to attain. Additionally, the construction of this arcology can boost the growth of the real estate market in Abu Dhabi because it can attract many investors from different countries. People working in Masdar City may want to buy or rent apartments in other areas of Abu Dhabi and the demand for housing might eventually increase. Thus, the completion of this complex can have long-lasting implications for many people in Abu D habi. This city will be completed at the end of 2025 and it could be an important step in the development of the housing industry in the United Arab Emirates. It is possible that similar residential projects will be implemented in the country or neighboring states. References Badescu, V Cathcart, R 2011, Macro-engineering Seawater in Unique Environments: Arid Lowlands and Water Bodies Rehabilitation, Springer, New York. Brebbia, C 2011, Sustainable Development and Planning V, WIT Press, Boston. Froelich, B 2008, A Bull for All Seasons: Main Street Strategies for Finding the Money in Any Market, McGraw Hill Professional, New York.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Gret-Regamey et al. 2008, Ecosystem Services in Agricultural and Urban Landscapes, John Wiley Sons, Hoboken. Pollalis, S 2013, Infrastructure Sustainability and Design, Routledge, New York. Roza, G 2009, The Creation of Islands, The Rosen Publishing Group, New York. Smith, P 2012, City: A Guidebook for the Urban Age, Bloomsbury Publishing, London.

5 Ways to Expand into a New Market

5 Ways to Expand into a New Market As the marketplace becomes saturated with new freelance writers every day, you must stay competitive. Often, this means pursuing opportunities in a new market. Whether you are diversifying to meet financial goals, or out of curiosity, here are 5 ways to expand into a new market: 1.   Write From Personal Experience Are you a technology lover? Have you had personal experience with substance abuse? Ever been pregnant? Just because you do not have formal training or professional experience does not mean that you cannot write authoritatively on a subject. Client ads will often specify whether they want you to be a credentialed expert, or just be well versed in a subject. Start 2.   Write For Sites You Like One of my first clients was secured after I sent an e-mail expressing my love for their website. If you take pleasure in reading articles on a site, you are bound to enjoy writing articles for the site as well. Excelling at the task will be easier because you represent the target market and you are familiar with the preferred writing style. A complimentary e-mail to the editor explaining why you like the site and why you want to become a contributor is worth the effort and may land you the gig. 3.   Volunteer Consider writing for free if it will help establish you as an authority and bring future opportunities. Weeks after I opted to contribute to a website without pay, I had my first syndicated article on Huffington Post. The site formed a partnership with Huffington Post shortly after I joined as a contributing writer. The exposure led to more traffic on my website and new writing opportunities. Before you consider writing for free, I suggest taking the following steps: 1. Review the sites content: Read its articles, editor’s

Learning and Assessment Basics Research Paper Example | Topics and Well Written Essays - 1500 words

Learning and Assessment Basics - Research Paper Example It is therefore imperative to have these factors in mind when designing an appropriate assessment technique. To be more precise, an assessment technique that best serves learning must be integrated with instruction and curriculum. Characteristics of learners Although the characteristics of students may have some similarity, in the long run, they are as unique as finger prints. It’s of great importance for educators to monitor and have knowledge of the characteristics of their students. In fact, educators or teachers should keep a well updated profile of their students. This is very important when it comes to structuring tailor-made techniques of teaching, instruction and assessment. As an educator, there are various characteristics I can identify with learners. Firstly, majority of learners poses the ability to evaluate. Students like to quickly form opinions and can evaluate basically everything and especially their tutors. They can easily detect lack of competence, sincerity or enthusiasm (Wood & Cantillon, 2011). Tutors therefore need to be dedicated to doing their best to avoid giving students the opportunity to make evaluations especially the adverse one. Fallibility is another trait associated with students. Just like anybody else, students make mistakes and tutors should not lose patience when students make mistakes. ... Some grasp concepts fast but forget fast while others take time to understand new concepts but once they understand, they rarely forget. Often, those students that understands concepts fast gets bored when tutors keep on repeating the same thing while on the other hand, the ‘slow learners’ are left behind when the tutors rush. Another characteristic of learners is that they like to be recognized. Recognition is one way of motivating students and tutors can use different approaches to recognize special performances. Recognition should be prompt and proportional to the degree of performance. Other characteristics of learners include that different students poses different psychological characteristics that dictate when and how they learn. This makes students to perceive different things differently. Some students learn best early in the morning while others perform best later in the day. This is rather psychological and varies from student to student. They also react diffe rently to immediate environment like effects of sound and the setting of the learning environment (Aspin et al., 2011). Explain how your understanding of cognition and learning will influence your design of instruction and assessment with this group in mind. The two skills actually work hand in hand because it is one thing to learn and another to understand things in the classroom environment that influence the nature of instruction and assessment methods. Learning actually gives more formal skill and approach towards development of instructional and assessment methods while on the other hand, cognition helps instructors often to invent, discover, or simply stumble upon a strategy that works. According to the question, the knowledge I have gained through thinking and learning will