...Symptom Severity and Functional Impairment CPSY 6341 – Psychological Assessment Walden University Symptom Severity and Functional Impairment The treatment of individuals with suspected psychological issues can be a very complicated process. In trying to design the best and most effective treatment plan, a clinician or psychologist must first employ the use of certain tests, which are aimed at examining and assessing the mental status and mental functional ability of a client. The purpose of this paper is to provide a comparative analysis of two tests of symptom severity and two tests of functional impairment. The tests of symptom severity are the Mini Mental State Examination (MMSE) and the Structured Interview of Reported Symptoms (SIRS-2). The functional impairment tests are the Ohio Functional Assessment Battery (OFAB) and the Burns Brief Inventory of Communication and Cognition. Comparing and analyzing these tests will allow for the choosing of which test is the most appropriate for a client who have exhibited several different symptoms that indicates a possible presence of dementia, or a related cognitive deficit. The Mini Mental State Examination (MMSE) Folstein, Folstein, McHugh & Fanjiang (2001) describes the Mini Mental State Examination (MMSE) as “a brief, individually administered measure mental state, which is an assessable measure of cognitive status in adults.” The purpose of the MMSE is use to screen patients and determine if there’s an existence...
Words: 1554 - Pages: 7
...Language Disorders (Acquired) 2 Assessment 2: Case Study MEDICAL DIAGNOSIS: Sustained a left-sided MCA CVA involving lateral frontal lobe TIME POST-ONSET: 6 months SPEECH LANGUAGE DIAGNOSIS: Broca’s aphasia characterised by severe difficulties with expressive language skills involving both verbal and written modalities. ------------------------------------------------- Background Ruby is a 39-year old woman who lives at home in the UK with her husband and two children, 9 and 7 years old. Ruby was first admitted to hospital on the 1st of February 2014 following right side weakness in upper and lower limbs, aphasia and an associated fall getting out of bed in the morning. She was found to have an acute left sided middle cerebral artery infarct involving the lateral frontal lobe. The pre-central gyrus was also involved and damage possibly extends to the lateral fissure and subcortical structures. This has resulted in a right-sided hemiplegia affecting her upper limb primarily. No preceding significant medical history. Ruby has previously spent 2 weeks in a specialist stroke unit and then 3 months in a rehabilitation unit during which she received treatment from physio, OT and speech pathology. Include client demographic information; include information about previous intervention details social history, premorbid level of function, and any other relevant medical or allied health intervention details to date. Language Assessment Ruby’s communication abilities...
Words: 2008 - Pages: 9
...Africa, and the Middle East. Gator Electronics elected not to perform the qualitative assessment for determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount and proceeded with Step 1 of the quantitative two-step goodwill impairment test for all reporting units. On the basis of the valuation prepared by Management’s Expert, Gator estimated that the fair value of all of the reporting units exceeded their respective carrying values and no Step 2 analysis was required or prepared. Fair value, as defined by the Financial Accounting Standards Board (FASB), is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Although GAAP does not prescribe the methods for measuring the fair value of an item, it expresses a preference for the use of observable market prices to make that determination. In the absence of observable market prices, GAAP requires fair value to be based on the best information available in the circumstances, which is inherently imprecise due to the underlying assumptions about future conditions, transactions, or events whose outcome is uncertain and will, therefore, be subject to change over time. In planning an audit, auditors assess the risk of material misstatement in the entity’s financial statements. This assessment takes into consideration many aspects of the entity, and it ultimately results in...
Words: 1399 - Pages: 6
...Goodwill Valuation and Impairment Goodwill can be found on the balance sheet of many companies whether it is a publically traded or a privately owned company. In simple terms, goodwill is the result of one company obtaining another. In accounting, goodwill is identified as an asset that has future economic benefits, which results from the acquisition of another company’s assets (FASB ASC 350-20-20). This account is shown on the balance sheet of the acquiring company. The excess of purchase price less the book value of the company represents goodwill. The purchase price is also known as the fair value. In other terms, book value is also known as carrying value, which is the book value minus any accumulated impairment amounts. If the acquiring company pays more than the carrying value, there is a premium. Premium is defined as the additional amount that is paid in excess of the ordinary price, similar to the idea of a premium bond. In order to provide consistent and comparable information about goodwill, the Financial Accounting Standards Board (FASB) has established Generally Accepted Accounting Standards (GAAP) that are used to measure and valuate the impairment of goodwill for companies operating their businesses in the US. Also the International Accounting Standards Board (ISAB) has established international standards known as IFRS. Both the FASB and the ISAB have created accounting standards to help companies determine the valuation and impairment of goodwill. Goodwill...
Words: 1831 - Pages: 8
...UNDERSTOOD U.S. GAAP VS. IFRS: IMPAIRMENT OF LONG-LIVED ASSETS AT-A-GLANCE Increasing globalization coupled with related regulations continues to put pressure on moving towards a common global accounting framework – International Financial Reporting Standards (IFRS). Currently, more than 100 countries use IFRS, so if your business goals include global expansion, it is critical to educate yourself about the impact of IFRS on your financial reporting processes and business now. To gain a better understanding of what IFRS means for your organization, we have prepared a series of comparisons dedicated to highlighting significant differences between IFRS and U.S. generally accepted accounting principles (GAAP). This particular comparison focuses on the significant differences between U.S. GAAP and IFRS when accounting for the impairment of long-lived assets. For other comparisons available in this series, refer to our U.S. GAAP vs. IFRS comparisons at-a-glance series. A discussion about U.S. GAAP and IFRS would not be complete without mentioning the status of the Securities and Exchange Commission’s (SEC) activities focused on determining whether the application of IFRS by U.S. registrants should be required or allowed. While the SEC has not made any final decisions with respect to use of IFRS by U.S. registrants, its activities are ongoing. For more information, refer to our IFRS Resource Center. The guidance related to accounting for the impairment of goodwill and indefinite-lived...
Words: 1851 - Pages: 8
...Goodwill Everyday companies are purchased and sold, mergers take place, and partnerships are formed all over the world. Once the purchaser and the seller have come to an agreement on a price or the merging companies come to an agreement, accounting needs to have a way to account for the difference between the tangible assets and the sales price and that is where goodwill comes into play. In a business combination, goodwill is measured as the difference between the price paid for an acquired company and the sum of the fair value of the identifiable net assets. In other words, goodwill is a residual asset, the amount remaining after fair values have been attached to the identifiable assets and liabilities of the purchased or merged company. The measurement of goodwill can also be described as having mixed attributes: it is a residually calculated amount derived both from assets and liabilities that are measured at fair value and others that are not measured at fair value. Since it is hard to place an exact value on a reputation of a brand or company, or to know how much revenue will be made after a business combination, estimates are made as to future profits. Goodwill may be an intangible asset but that doesn’t mean that it is not a saleable asset, plus in most cases goodwill is almost indestructible. One of the only ways to destruct goodwill is by indiscretion. Goodwill is typically built painstakingly over years of doing business. Some of the general ways to generate...
Words: 1141 - Pages: 5
...Case 11-9 Yes management should have performed an interim goodwill step 1 impairment test as of September 30, 2012. The FASB Accounting Standards Codification detailed when an impairment test for goodwill is needed based on various circumstances. To determine whether a two-step test is necessary a qualitative assessment must be completed first. One of the most important pieces of information of Galaxy Sports Inc. at the September 30, 2012 date was the current market environment. Galaxy had experienced a slump in sales and was losing revenue to cheaper foreign competitors because the economy was slower. In ASC 350-20-35-3c there were several factors listed that should have led Galaxy to test for goodwill impairment. They included “Macroeconomic conditions such as a deterioration in general economic conditions, limitations on accessing capital, fluctuations in foreign exchange rates, or other developments in equity and credit markets”, “Industry and market considerations such as a deterioration in the environment in which an entity operates, an increased competitive environment, a decline in market-dependent multiples or metrics (consider in both absolute terms and relative to peers), a change in the market for an entity’s products or services, or a regulatory or political development”, “Overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods ...
Words: 491 - Pages: 2
...From: Accounting Consultant Subject: Assessment of Impairment Date: January 1, 2003 I. Facts During this fiscal year, with the capture of the Big Bad Wolf, there is an increase of supply of pork and the market price of pork is on the decline. Although the market price for hogs is forecasted to stabilize within the year, Three Little Pigs, Inc. (PIGS) is dealt with the dilemma of whether they should impair their inventory of hogs, effective September 30, 2002. With three categories of hog inventory (live hogs for sale, developing animals, and processed pork products), PIGS is only considering to impair their inventories of live hogs and developing animals to be sold to third parties at market prices. Concerning processed pork prices, they are believed to be sufficient to cover production costs. II. Issues Management refuses to write off their inventory as they believe future stabilized prices will cover the losses from the previous quarters. However, specific scenarios must be evaluated to decide what the best solution is for PIGS to efficiently report their inventory. The issue is whether impairment should exist at September 30, 2002. If impairment shall exist, the question remains whether the impairment would be evaluated under the lower cost or market method on a total inventory basis, category basis, end product basis, or on an individual basis. If deemed necessary to impair, PIGS will need to determine whether impairment should be recognized in an interim period...
Words: 973 - Pages: 4
...ACCT 301 – intermediate Accounting 1 Case Study Due date: December 3, 2015 Objectives of the Case: This case gives students the opportunity to apply the guidance in ASC 350 to determine: • What goodwill impairment indicators should be evaluated. • Whether an interim period step 1 impairment test should be performed Applicable Professional Pronouncements: ASC 350-20, Intangibles — Goodwill and Other: Goodwill (ASC 350-20) ASC 820, Fair Value Measurement (ASC 820) Research Databases: Use the FASB Accounting Standards Codification Database to research the authoritative literature (FASB pronouncements) relevant to the issues in question. The web link and login information of the database is available on D2L. Instructions: a) Your name, class section, and responses must be typed on this document. b) Write your answer right below each question using ARIAL font size 11 unless specified otherwise. c) Your responses must be clear, concise, supported with persuasive arguments, and free from grammatical and spelling errors. d) There is no limit on the length of your response. e) Two submission formats are required: (1) an electronic version must be submitted via designated D2L drop box, and (2) a hard copy version must be submitted at the beginning of the class on the due date. Late submission will not be accepted (no exceptions). f) For hard copy submission, only print the cover page and the pages containing your responses. It must be...
Words: 2665 - Pages: 11
...This case gives students an opportunity to determine the accounting for impairment of long-lived assets in accordance with ASC 360-10. Applicable Professional Pronouncements ASC 360-10, Property, Plant, and Equipment: Overall (ASC 360-10) ASC 360-10 provides guidance on accounting for property, plant, and equipment, and the related accumulated depreciation on those assets. This Subtopic also includes guidance on the impairment or disposal of long-lived assets. ASC 360-10 notes that long-lived tangible assets include land and land improvements, buildings, machinery and equipment, and furniture and fixtures. ASC 820, Fair Value Measurements and Disclosures (ASC 820) ASC 820, Fair Value Measurements and Disclosures, applies to U.S. GAAP that require or permit fair value measurements or disclosures and provides a single framework for measuring fair value and requires disclosures about fair value measurement. The Topic defines fair value on the basis of an "exit price" notion and uses a "fair value hierarchy," which results in a market-based — rather than entity-specific — measurement. IAS 36, Impairment of Assets (IAS 36) To ensure that assets are carried at no more than their recoverable amount, and to define how recoverable amount is determined. Discussion 1 — Impairment Assessment for a Long-Lived Asset How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31, 2010? In addressing this question...
Words: 2652 - Pages: 11
...It has been reported to be present in approximately 80% of patients. Muscle weakness (hemiparesis) is recognized as the major deficit contributing to the motor impairment. Other associated motor disorders, such as spasticity, muscle stiffness and reduced muscle length, coordination and timing of movements and the presence of abnormal movement patterns may also influence the motor function. In addition, sensory impairments, perceptual deficits and cognitive difficulties after stroke may limit the use of arm and hand in daily life activities. Therefore the individual ability to perform different tasks in their daily life will be reduced, which will increase the restriction risk of the individual’s participation in social life...
Words: 609 - Pages: 3
...Jacquelyn Keville William Brown 797AT Case Study April 9, 2015 1. No, management did not have to perform an interim goodwill step 1 impairment test as of September 30, 2012. In December of 2011 Galaxy used an external valuation firm to perform its goodwill impairment analysis. This showed that each reporting unit passed step 1 of the impairment test because the fair value of their equity was well above the book value of their equity. In Q1 and Q2 following this impairment analysis earnings were below expectation due to the slowing economy. In September 2012, at the beginning of Q3 Galaxy was considering performing an interim goodwill impairment test. In reviewing ASC 350 they concluded that this was not necessary for them to perform, which was the correct decision. ASC 350 states, “Goodwill of a reporting unit shall be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Additionally, if the carrying amount of a reporting unit is zero or negative, goodwill of that reporting unit shall be tested for impairment on an annual or interim basis if an event occurs or circumstances exist that indicate that it is more likely than not that a goodwill impairment exists.” (350-20-35-30) The circumstances that could possibly reduce the fair value below its carrying amount are macroeconomic conditions, industry and market considerations, cost factors,...
Words: 506 - Pages: 3
...The Need for a New Impairment Model Related to Financial Assets and Loans Jonathan L. Harris Florida Atlantic University ACG 6135 - Advanced Accounting Theory Professor Kohlbeck October 10, 2014 Table of Contents Table of Contents Introduction………………………………………………… 3 Background…………………………………………………. 4 FASB’s CECL Model……………………………………….. 6 Credit Impairment and Hedging…………………………… 7 Current vs. Impairment Model…………………………….. 8 Controversy Surrounding the CECL Model………………. 9 FASB’s Exposure Draft…………………………………….. 10 Conclusion………………………………………………….. 13 Introduction It is imperative that the FASB adopt a new model for the recognition of credit losses on financial instruments held by banks, lending institutions, and private organizations. The economic crisis of 2008 was a result of the current failing “incurred loss” model because it failed to alert investors to credit losses. The problems with the present model is it delays recognition of credit losses until the losses are deemed to be actually incurred or incurred under a high level of probability. A large majority of financial statements users are in agreement that the FASB needs to adopt a new model, while the real issue lies in tailoring this new model to work fairly and efficiently for all. The answer is to implement and establish a new impairment model that requires consideration of forward-looking information to assess the estimated cash flows to be received on amounts due from customers, investment securities...
Words: 3078 - Pages: 13
...the rehabilitation process based on the assessment of needs and wants of the patient. Liaise with other members of the MDT team as part of a collaborative approach to rehabilitation. The frames of reference relative to patients with lower limb amputation are the rehabilitation which utilises...
Words: 912 - Pages: 4
...an amount significantly less than its asking price. The competitor’s building is located across the street from Ida’s building, has approximately the same square footage, and was built five years after Ida’s building was constructed”, it clearly is a significant decrease in the market price of a long-lived asset as indicated in the FASB. Since the competitor’s circumstance indicates that Ida’s carrying amount may not be recoverable, Ida should test for recoverability under U.S. GAAP. Secondly, as of December 31, 2010, Ida needs to test the U.S. commercial building for recoverability under IFRSs as well. According to International Accounting Standard 36 Impairment of Assets (IAS 36) 8, An asset is impaired when its carrying amount exceeds its recoverable amount. Paragraphs 12-14 describe some indications that an impairment loss may have occurred. If any of those indications is present, an entity is required to make a formal estimate of recoverable amount. As IAS 36.8 indicates, we shall look at IAS 36.12, In assessing whether there is any indication that an asset may be impaired, an entity shall...
Words: 855 - Pages: 4
