...The case begins with describing Eagle impairment, which is a manufacturing company, which has operations in Italy and Serbia. In Italy Eagle owns and operates a commercial building that is carried at its cost less depreciation. The case then gives us a chart which shows us Cash generating unit that includes: carrying amount $1,100, value in use 900, fair market value less costs to sell 800, fair market value 850, and undiscounted future cash flows 1,150 all in thousands. Eagle’s manufacturing company in Serbia attained a smaller competing company. The activities in Serbia are regarded as not impaired because the value in the use of CGU including goodwill exceeds its carrying amount. By the end of 2010 the govt passed a legislation drastically restricting exports of eagle’s main merchandise. The CGU in the end of 2010 was altered because of the new legislation, which included: cash $50, property plant and equipment 1,100, land 150, goodwill 300, total assets 1,600, liabilities (200), and carrying value 1,400 all in thousands. The case goes on to show us a 5 year business forecast of Eagle Impairment. It reflects an increase in the amount of capital expenditures in order to modify Eagle’s mail product. Eagle uses straight line depreciation and anticipates no residual value. 1. I assume the commercial building meets the requirements for a recoverable test under IFRS. The carrying value is $1,100 whci is greater than the claue in use which is $900. The fair market value less...
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...Eagle Impairment Loss Eagle Company (Eagle) is a manufacturing company with operations in Italy and Serbia. Eagle in Italy: In addition to other assets, Eagle owns and operates a commercial building in Italy that is carried at its cost less any accumulated depreciation and any accumulated impairment losses. The building represents a cash-generating unit (CGU) for which the following information is available as of December 31, 2010: Building | 12/31/10 inthousands | Carrying amount | $1,100 | Value in use | 900 | Fair market value less costs to sell | 800 | Fair market value | 850 | Undiscounted future cash flows | 1,150 | Eagle in Serbia: In Serbia, in 2008, Eagle acquired a smaller competing company and goodwill was allocated to the CGU shown below. Activities in Serbia represent the lowest level at which internal management monitors goodwill. At the end of 2008 and 2009, the value in use of the CGU including goodwill exceeded its carrying amount. Therefore the activities of Eagle in Serbia and the goodwill allocated to those activities were regarded as not impaired. However, at the end of 2010, the newly elected government passed legislation significantly restricting exports of Eagle’s main product. The information below relates to the CGU (which includes goodwill) of Eagle’s operations in Serbia before the impairment analysis is performed. For this case, assume the basis of segmentation for CGUs and reporting units (RU) is the same under IFRSs and...
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...Eagle Impairment Case The following report outlines an analysis of Eagle Company’s assets in Serbia and Italy. With the information provided, we have created a detailed report to assess which assets should be impaired along with its impairment value under the IFRS and US GAAP standards. Eagle in Italy Under IFRS: Eagle owns a commercial building in Italy. The carrying amount is $1,100 with $900 being the value in use. According to IAS 36 P18, “An asset is impaired when its carrying amount exceeds its recoverable amount.” In this case, the carrying amount ($1,100) exceeds the recoverable amount (Higher of Value in use) of $900. Eagle should report an impairment loss of the difference of the carrying amount and the value in use: $1,100 - $900 = $200,000. Eagle should report an impairment loss of $200,000 for their cash-generating unit (CGU) in Italy. Under US GAAP: According to US GAAP, if the undiscounted future cash flows ($1,150) exceeds the carrying amount ($1,100), then no impairment loss is recorded. Since that is the case, under US GAAP, Eagle should not report an impairment loss on their CGU. Eagle in Serbia Under IFRS: Eagle acquired a smaller competing company in 2011 in Serbia; goodwill was allocated to the CGU. The guidelines for determining whether an impairment loss is recorded are the same as the scenario for Eagle in Italy, “An asset is impaired when its carrying amount exceeds its recoverable amount.” The fair value of the PP&E was $1 million...
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...Case 2: Eagle Impairment Loss 1. We have referred to IAS 36 to make the decision on the amount that should be impaired by Eagle in Italy. Since in the case it says that there are qualitative factors that suggest an impairment is likely, we have to evaluate based on the recoverability test. IAS claims that we can recognize an impairment loss under the following circumstances: “If, and only if, the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset shall be reduced to its recoverable amount. That reduction is an impairment loss.”(IAS36-59). To be able to determine the amount impaired, we have to find the definition of recoverable amount. On Page 13 in IAS 36, the recoverable amount of an asset is, “the higher of its fair value less costs to sell and its value in use. (P-13 IAS 36) So, the impairment loss is 1100, 000-900,000=200,000 2. According to the FASB, “An impairment loss shall be recognized only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value.”(360-10-35-17) However, in this case the recoverable costs is 1,150,000 which is larger than the carrying value 1,100,000. Thus, we do not need to record the impairment loss under GAAP. 3. Part 1 IFRS Under IFRS, “A cash-generating unit to which goodwill has been allocated shall be tested for Impairment annually, and whenever there is an indication that the unit may be impaired, by comparing the carrying amount of the...
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...Case #2 (Eagle Impairment Loss) Question 1: The Impairment Loss of Eagle in Italy under IFRS Recoverability test: Asset’s carrying amount exceeds the recoverable amount which is the higher of the asset’s value-in-use (discounted present value of the asset’s expected future cash flows) and fair market value less costs to sell. (IAS36-15) According to IAS36-6, “an impairment loss is the amount by which the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount. The impairment loss = Carrying amount - Value in use = $1,100,000-900,000=$200,000 Question 2: The Impairment Loss of Eagle in Italy under U.S. GAAP (FASB 360-10) Recoverability test: Asset’s carrying amount exceeds the undiscounted future cash flows from the asset. Because the carrying amount $1,100 is less than the undiscounted future cash flows $1,150, there is no impairment loss. Question 3: The Impairment Loss of Eagle in Serbia 1. Impairment of Goodwill under GAAP and IFRSs - Two-step approach for testing goodwill impairment under U.S. GAAP (FASB ASC-350-20-35) 1) If assets’ fair value of reporting unit is greater than the carrying amount including goodwill, there is no impairment. 2) If there’s impairment indicated by step 1, then compare implied fair value of goodwill with carrying amount. Implied fair value of goodwill is obtained by deducting the fair values of all the reporting unit’s assets and liabilities from the fair value of the reporting unit. From...
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...Case 10-2 Eagle Impairment Case Question #1 Under IFRS’ International Account Standard No.36^15 an asset must be assessed for indicators of impairment at the end of each reporting period. The information provided for the commercial building in Italy does not say whether there are is an event or change in circumstances that indicate that book value of the asset may not be recoverable. Since there is no indicator mentioned, one possibility would be that no investigation of impairment take place and there is no impairment loss. It is more likely however that there are indicators that have occurred, they just aren’t identifiable from the information given. If there were indicators and impairment was tested there is no recoverability test under IFRS. An impairment loss is recognized when an asset’s book value exceeds the higher of the asset’s value-in-use or fair value less costs to sell. For Italy’s commercial building the book value is $1,100,000, the value-in-use is $900,000, and the fair value less costs to sell is $800,000. Since the commercial building’s book value is higher than the value-in-use an impairment would be recognized as the difference between book value and the recoverable amount (value-in-use in this situation). So an impairment loss would be recognized for $200,000($1,100,000- $900,000). Question #2 Under U.S. GAAP, assets are tested for impairment when events or changes in circumstances indicate that book value may not be recoverable. For the building in...
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...Para entender lo que es un mensaje subliminal, primero debemos saber que los procesos mentales se dividen en dos áreas: Consciente y subconsciente. El consciente es la mente racional, lo que cuestiona y analiza. El consciente procesa solo ciertos rasgos visuales, auditivos, de tacto, tacto y olfato. El subconsciente procesa la totalidad de los estímulos restantes. Un mensaje subliminal es una señal o mensaje diseñado para pasar por debajo de los niveles normales de la percepción humana. Por tal razón son estímulos que no alcanzan la representación consciente por falta de atención o por su corta duración. Son imágenes o sonidos que al transmitirse entran directamente al subconsciente sin que el consciente lo capte al momento. Los mensajes subliminales no son un concepto nuevo o de moda. Desde la antigüedad los filósofos griegos comenzaron a hacer mención de las percepciones subliminares. Los primeros registros datan de 2,250 años. En los escritos de Demócrito el mencionaba que no somos capaces de percibir mucho de lo perceptible. Platón también lo menciona en su escrito “Timeo”. En su escrito “Parva Naturalia”, Aristóteles, menciona como los estímulos no percibidos pueden afectar los sueños. El explicó que durante el día si los estímulos que recibimos no son lo suficientemente fuertes y poderosos pasan inadvertidos. Durante el día, mientras estamos despiertos, estamos expuestos a fuertes impulsos y estímulos. En la noche, cuando dormimos, todos esos estímulos...
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...rabbit is called a ( ) a. Fawn b. Kitten c. Cub 3. In a lion pride, who has the last dibs on meat? a. The male b. The female c. The cubs 4. Baby elephants learn from the matriarch. The matriarch is ( ) a. A wise Yoda-like elephant that travels off by himself. b. c. The female leader of the head. 5. All birds of prey except ( ) catch their own food. a. Vultures b. Eagles c. Kestrels 4. All birds of prey fly in two basic ways: a. Flapping their wings and gliding b. Flapping their wings and pushing against the air currents with their feet c. Via American Airlines of United Airlines 5. A harpy eagle’s talons are the size of grizzly bear claws. Harpies have been known to kill: a. Humans b. Small sheep c. Mountain lions 6. A Golden Eagle can see an 18-inch rabbit from a distance of : a. 18 miles b. 8 miles c. 2 miles 7. A nictating membrane is: a. A bird’s protection against the nicotine in second hand smoke b. A bird’s third eyelid c. The membrane lining of a birds mouth 8. The tiny elf owl likes to nest: a. In a cactus b. In tall trees c. In rocky ledges 9. Within the same species, male and female birds of prey...
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...Hotel California details how numbing the American Dream can actually be. The song tells the story of a lonesome traveler wandering through the middle of nowhere and coming across the “Hotel California”. However, as the song progresses, the out of touch nature of the hotel begins to grow on the protagonist to the point where he wishes to return to his prior life, but cannot. This song, while emphasizing on the fame related side of the success, is an excellent analogy for the secret costs of the American Dream. At the beginning of the song, a stranger stumbles upon the Hotel California and is kindly (and surreally) greeted by the staff. This represents the enticing feeling of succeeding, one that is comforting, and welcoming. Furthermore, there are numerous references to materialism along with the free lifestyle often associated with success in America, such as how “Her mind is Tiffany-twisted”, and how “She got a lot of pretty, pretty boys she calls friends / How they dance in the courtyard, sweet summer sweat / Some dance to remember, some dance to forget.” This trend of desiring material items others can’t have illustrates the lifestyles that was stereotypical of rock stars at the time. They got everything they wanted and did anything they wanted. It is not, however, until the end of the song, where the true nature of these events reveal themselves. This lifestyle has consumed them, and while it was exciting while it lasted, it has taken its toll as, as seen in the line, “We...
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...Kenneth Jones Intro to Writing 102 Narrative 22 Feb 15 A Season that was Lost The Eagles are down one with eighteen seconds left on the clock until they move on or the season is lost. They advanced the ball by using a timeout. The eagles run to the huddle and them all standup. They can only hear one voice and that’s coach coop saying relax, take a deep breath, stay calm and don’t panic. He decided the play he was going to call was eagles six. We are going to run eagle six, also win are going to win the game!! The first horn sound, the referee comes to the bench and says that the first horn. Now the second horn sounds and the team breaks the huddle. The referee blows his whistle, loud due to the packed gym and the crowd had the building shaking. The ball is on the side of the court. The gym was hot! All you could hear was the balls boucing on the hardwood floors, the first shot goes up all net swoosh. Now the real fun begins. Ten minutes into shooting drills you hear a loud whistle and a buzzer sound in the gym. Coach Cooper or (Coop) as he refers to his self, yells on the line. Tot the base line. The team is thinking we are going to run. With a huge smile on coops face start running, we are like for how long for? He simply replayed until he was tired. The team responds with laughter to the statement Luke says cannot be like this. The team start saying let’s go, get it done. The team starts running while the clock is just counting up on the...
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...Swans are birds of the family Anatidae within the genus Cygnus. There are six to seven species of swan called the Black-necked Swan, Black Swan, Mute Swan, Trumpeter Swan, Tundra swan which includes the Bewick's Swan and Whistling Swan, and the Whooper Swan. In addition there is another species known as the coscoroba swan, although this species is no longer considered one of the true swans. The swans are close relatives with geese and ducks. Often seen gliding across lakes, the swan has long represented elegance and refinement. 2 The swans are the largest members of the waterfowl family Anatidae, and are among the largest flying birds. The largest species, including the mute swan, trumpeter swan, and whooper swan, can reach a length of over 1.5 m (59 in) and weigh over 15 kg (33 lb). Their wingspans can be over 3.1 m (10 ft). 3 Swans live for approximately 20 to 30 years. Some variations exist between the more common swan species. The trumpeter swan, which is the largest swan in North America, lives for an average of 24 years in the wild but has been known to live for 33 years in captivity. A mute swan lives for an average of 19 to 20 years; the tundra swan has a similar life span. The black swans of Australia and New Zealand, which have been introduced to North America and Europe, can live for up to 40 years in the wild. 4 The swan is found on both sides of the Equator across the Northern and Southern Hemispheres. The northern swan is generally white in colour...
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..."Hotel California" The Eagles On a dark desert highway, cool wind in my hair Warm smell of colitas, rising up through the air Up ahead in the distance, I saw shimmering light My head grew heavy and my sight grew dim I had to stop for the night There she stood in the doorway; I heard the mission bell And I was thinking to myself, 'This could be Heaven or this could be Hell' Then she lit up a candle and she showed me the way There were voices down the corridor, I thought I heard them say... "Hotel California" The Eagles On a dark desert highway, cool wind in my hair Warm smell of colitas, rising up through the air Up ahead in the distance, I saw shimmering light My head grew heavy and my sight grew dim I had to stop for the night There she stood in the doorway; I heard the mission bell And I was thinking to myself, 'This could be Heaven or this could be Hell' Then she lit up a candle and she showed me the way There were voices down the corridor, I thought I heard them say... (Chorus) Welcome to the Hotel California Such a lovely place (Such a lovely place) Such a lovely face Plenty of room at the Hotel California Any time of year (Any time of year) You can find it here Her mind is Tiffany-twisted, she got the Mercedes bends She got a lot of pretty, pretty boys she calls friends How they dance in the courtyard, sweet summer sweat. Some dance to remember, some dance to forget So I called up the Captain, 'Please bring me my wine' ...
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..."Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil." Eccl 12:13-14 (KJV) FEW WAYS TO LOVE YOUR HUSBAND 1. Discover his favorite pet name and call him by that. 2. Allow him exercise his authority as the head of the family. 3. DO not challenge him when he is hurt. 4. Be silent when he is angry. You can go back to him in his sober moment with apology n explain why you behave that way that annoyed him. 5. Be quick to say " I am sorry dear". When ever you offend him pettingly, insist on his forgiveness, appreciate and kiss him when he does. 6. Speak good of him before his Friends and siblings. 7. Honor his mother 8. Insist that he buys gift for his parents and so be sure that he will do same for your parents 9. Surprise him with his favorite dish especially when he has no enough money at hand and never delay his food. 10. Do not allow the maid to serve him food when you are at home. Because u may lose him to them. 11. Give him a warm reception with an embrace when he returns, collect his luggage and help undress him. 12. Smile when you look at him and give him occasional pecks when you are out socially. 13. Praise him before your children sometimes. 14. Wash his back while he is in the tub or shower. 15. Put love note in his lunch box or briefcase. 16. Phone and tell him that you...
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...Hotel” is a song produced by the Eagles, in the 1970's. Similar to many other songs and articles, “California Hotel” talks about the lifestyle these artists encountered after settling in California. To many people, living in California was a dream. In “Golden State, Golden Youth” Kirse Granat May states,“To those who followed the rush to gold, California remained unique: a place to regain health, live on the frontier, build a railroad, exploit agricultural possibilities, discover oil, or make fortunes in real estate. For newcomers, it was still the land of the second chance, glowing with opportunity amidst sunshine.” The Eagles were a band that moved to california to pursue their dreams, just like millions of people across the world. These artists heard many rumors about the endless money, women, and fame thats awaiting for them in the golden state, so they took their chances. Unlike many people which moved to california, their dreams of money and fame came true. But what they didn't know is that everything comes with a price. The lifestyle that came with that much fame and money, was a life style that had no true love, only meaningless sex, drug abuse, and an unethical life. After these artists discovered the true life of a Californian star, they wished they have never came; they tried to escape the life they were living but it was too late and they couldn't. The introduction of this song was very detailed and I think self explanatory. The Eagles try to make us visualize their...
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...“American Pie” and “Hotel California” Perhaps no other song better expresses the overall attitude of the United States (U.S.) in the 1970s than Don McLean’s “American Pie”. Released in November 1971, the song is still considered one of the greatest songs in U.S. history. Additionally, the Eagles’ song “Hotel California”, released in 1976, also exemplifies American culture during the turbulent decade of the 70s. “American Pie” is, for lack of a better word, a long song, with a run time of over eight minutes. The song consists of seven verses, as well as a chorus which is repeated seven times. The song begins with McLean’s voice over a piano. When the opening verse ends, the piano becomes less relevant in the song, and an acoustic guitar becomes the predominant instrument. The song employs a standard AABA structure, alternating between choruses and verses, except at the end, when the chorus is repeated, with the second iteration acting as the coda. Like most popular songs of the 70s, The Eagles’ rock epic “Hotel California” is written in a verse/chorus format. It contains four verses, two iterations of the chorus, a coda, and a lengthy guitar solo to end the song. The standard Eagles’ instrumental setup for the song includes drummer Don Henley singing, as well as playing the drums. Joe Walsh, Don Felder, and Glen Frey play guitars, and bassist Randy Meisner plays the bass. All four offer backup vocals during the chorus. It is safe to say that both songs are considered...
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