...Visual Impairment Introduction Vision challenge or impairment is when a person’s degree of seeing is very low and the affected person requires assistance in order to carry out daily routine. Significantly, for one to qualify as visually impaired there must be prove that a person cannot undertake duties by himself without necessary assistance. For a person to qualify as a visually challenged, there must be a prove that the affected eyes cannot be conventionally treated. Visual challenge cannot be corrected by surgery, refractive measures neither by medication and that is why it is termed as visual impairment. The most rampart causes of visual challenge are trauma, degenerative or congenital means and a variety of diseases. In the society, blindness is the term that is preferably used to describe a visually impaired per son. Low eyesight is generally revealed when the affected person cannot view a normal distance and walk by himself (Algozzine, 2006). The degree of impairment can also be revealed when a person cannot read some normal writings. This is to say that even with the assistance of contact magnifying glasses or even eyeglasses the victim cannot reveal the writings on a normal newspaper (Bailey & Hall, 1990). Hyperopic impairment is accrued with inability person to see objects in a close distance. Myopic impairment is quite the opposite of hyperopic whereby a victim cannot identify objects at close distance. All these vision challenges greatly obscure the affected person...
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...Hearing and Visual Impairment Bonnie J. Hatch Grand Canyon University SPE 526 May 19, 2010 Abstract The abstract of this essay will include information on hearing and visual impairments. It will explain the legal definition of both, the impact that hearing and visual impairment have on a person’s development and education achievement, how humans hear and see and the degrees, types and causes of each. The essay will also go into detailed by supplying a lesson plan which will include the objectives/goals, accommodations/modifications, strategies, assessments, activities as well as including brief description of the student by submitting the student’s age, grade, disability strength, and weaknesses. Hearing and Visual Impairments Hearing is a complex process of changing sound waves into the neural signals which can be translated by the brain into sounds. Within the inner ear is the Cochlea, which changes sound waves into neutral signals. The signals are sent to the brain through the auditory nerve. Where the visual impairment is also a complex process, light enters the eye through the pupil and is collected by photoreceptor neurons in the retina. Signals are then sent to a neuron network that then generates electrical impulses which goes to the brain. The legal definition of a hearing impairment is “a full or partial decrease in the ability to detect or understand sounds. It can range from a mild hearing loss to total deafness” (Hearing Impairment Law and Legal Definition...
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...Students & Hearing Impairment Humans are fortunate to have 5 physical senses and also have the knowledge to use and verbally express our perceptions about our environment using each one. Of course we know these to be taste, smell, touch, see, and hear. From the moment we wake up until the moment we fall asleep, we use each of these senses. Some of these senses are considered more vital than the others. But, with these senses, we are capable of living in this on-the-go, ease-of-access society. Every day we have an agenda whether it is work, school, children, or even just to lounge and be a couch potato. Each of those tasks requires our senses. What happens to a person when one sense or even multiple senses become impaired or is extinguished? We all love to feel the rain on our skin, smell the fresh forest air, taste great home cooking, and see the newborn baby first open their eyes. But, what if you’re crossing the street and you can’t hear the drunk driver and the sirens turning the corner behind you? What do you do when you’re struggling to hear your teacher’s very important review about your final? What happens if you were living in New York City, sitting in your apartment, and you couldn’t hear the bombs collide with the World Trade Center? People who are deaf or hearing impaired are very unfortunate in these situations and have to exert more effort to cope with their everyday life. Hearing loss makes even routine communication difficult. (“Slowik”) Students, especially...
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...Hearing impairment, specifically severe to profound hearing loss affects an estimated 464,000 people in the United States (Blanchfield, Feldman, Dunbar, & Gardner, 2001). Blanchfield et al. (2001) estimated seniors represent approximately 54 million people of the severe to profoundly hearing-impaired population with prevalence rising with age with a variety of causes. Etiologies of hearing loss may be due to congenital causes, viral infections, or ototoxicity (Wailling & Dickson, 2012) and can progress to a severe to profound hearing impairment. These individuals may demonstrate the ability to hear a variety of sounds but may be limited to conversation speech, which ranges between 50 dB HL (Schow & Nerbonne, 2013). Individuals with severe hearing...
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...schools is seen as a welcome development for ensuring access, equity and quality of basic education in Zambia. According to Brendan Carmoday, schools started operating in Zambia to respond to the needs of orphans, the poor and girl children who are often disadvantaged in the delivery of basic education services. In this regard, the government, Non-Governmental Organizations (NGOs) and other stakeholders are encouraged to support schools so that they serve more disadvantaged groups in the society. It is against this background that this assay will discuss in details the growth of hearing impairment education in Zambia. The term ‘hearing impaired’ has been used for all categories of hearing loss, that is, for all categories of hearing loss, that is, from very mild loss to the profoundly deaf person. Another term that is accepted is ‘hearing disability’ (Moores, 1996). Persons with hearing impairment may be divided into groups: The hard-of hearing person and the profound deaf. A hard of hearing person can hear sound especially when it is amplified by a hearing aid. Davis & Silverman (1998) emphasize that the hard of hearing are pupils whose sense of hearing though defective is functional with or without hearing aids. While it is generally agreed that the hard of hearing can hear speech sounds using hearing aids, it is argued the deaf children find it difficult to fit in the environment especially when...
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...Cochlear hearing impairment is often times associated with damage to one’s hair cells within the cochlea. The cochlea is a small, snail-shaped structure and it is one of the main organs of hearing and it is a part of one’s inner ear. When an individual has “cochlear damage” this means that a part (or sometimes all) of your inner damage has been damaged and/or hurt. Damage to the cochlea usually results in permanent hearing loss (and this type of hearing loss is known as sensorineural hearing loss). This type of hearing loss can be caused by many factors such as loud or extended noise exposure, certain antibiotics, meningitis, Meniere’s disease, or acoustic tumors. If there is damage to the outer hair cells (often times abbreviated as OHCs),...
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...Impairment of Securities Securties are classified into one of three categories: available for sale, held to maturity, or trading. The concept of impairment does not really apply to trading securities as they are only held for short periods. The impairment of securities that are deemed available for sale or held to maturity is a three step process. The first step is to determine if the security is impaired by comparing the fair value to the cost of the security. The cost includes any amortization and any previous impairments. The second step is to determine if the loss is temporary or “other than temporary”. This is the step that can cause the most controversy in the impairment process. The process of determining if the loss is temporary or not is highly subjective and is based on the opinion of the holder of the security. It is supposed to be based on the time and extent of the loss, the issuers financial standing, and the intent and ability of the holder. These criteria are very loosely defined parameters and lead to most impairments being classified as temporary. Many accountants have complained about how ambiguous the guidelines for this classification can be. The classification of an impairment of a security as temporary is highly advantageous for a company as it is recorded in OCI and can be recovered. This means that the loss is excluded from operations and does not affect some of the financial statements. However, if the loss is determined to be “other than temporary”...
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...Dear Mr. Gabriel, In response to your inquiry regarding potential adjustments to the carrying value of your corporation’s tangible assets for possible impairments in value and also for possible impairment of value of the Goodwill booked on the corporation’s Balance Sheet, I have researched and concluded the following information and proper disclosures for XYZ Corporation. Tangible Assets Let’s begin with the tangible assets of the corporation. Over the useful life of the asset, it is necessary to periodically test for impairment. Impairment exists when the carrying value of a long-lived asset exceeds the fair value of the asset and is not recoverable. Various events and changes in circumstances can lead to an impairment, they include but are not limited to; a decrease in fair value of an asset, a change in the manner the asset is used, adverse changes in legal factors or the business climate that affects that value of the asset, and projected continual losses associated with the asset. To measure if there has been impairment on an asset, we must perform a recoverability test. The recoverability test has two steps. The first step is to compare the future net cash flows of the asset to the carrying value (book value) of the asset. If the future net cash flows are more than the carrying value, the asset is not impaired. However, if the future net cash flows are less than the carrying value, then the asset is impaired and the second step of the recoverability test needs to...
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...1. State the purpose of the impairment test. (1 Mark) 2. Name two (2) assets excluded from the application of IAS 36. (1 Mark) 3. When does an entity conduct an impairment test? (1 Mark) 4. Name two (2) assets subject to an annual impairment test. (1 Mark) 5. How is an impairment loss calculated? (1 Mark) 6. Define “recoverable amount”. (1 Mark) 7. Define a “cash generating unit”. (1 Mark) 8. How do you account for an impairment loss incurred by a cash generating unit? (1 Mark) 9. Name two (2) restrictions on reversal of an impairment loss. (1 Mark) 10. Name two (2) external sources of information used in assessing indicators of impairment. (1 Mark) 11. Name two (2) internal sources of information used in assessing indicators of impairment. (1 Mark) 12. Under IAS 36, which of the following assets are subject to impairment testing: a) goodwill, b) patent, c) inventory, d) receivables, e) property, plant and equipment. (1 Mark) 13. When does an impairment loss occur? (1 Mark) 14. At reporting date, Frankston Limited estimated an impairment loss of $50,000 against its single cash-generating unit. The company has the following assets: Head Office $100,000; Plant $60,000; Equipment $40,000. Journalise the allocation of the impairment loss amongst the assets of this cash-generating unit. (1 Mark) 15. At reporting date, the carrying amount of a single cash-generating unit was considered to have been impaired by $800. The unit included the...
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...CORPORATE ACCOUNTING IMPAIRMENT QUIZ QUESTIONS 1. In allocating an impairment loss for a cash generating unit which of the following assets would not be given a portion of the loss – land; machinery; inventory; manufacturing licence; receivables? Why? (1 Mark) 2. How is an impairment test undertaken? (2 Marks) 3. Peppermint Ltd has determined that its orchard division has suffered an impairment loss of $42 000 for the year ended 30 June 2013. At that date the carrying amount of the division’s assets were $ Inventory 21 000 Land 200 000 Fruit Trees 114 000 Reticulation Systems 36 000 Goodwill 60 000 Required Allocate the loss across the assets of the CGU in accordance with AASB 136, paragraph 104 and prepare the journal entry to record the loss. Show all workings. (2 Marks) 4. What is an impairment loss? (1 Mark) 5. What is a cash-generating unit? (1 Mark) 6. Silkyoak Ltd has determined that its nursery division is a CGU. The carrying amounts of the net assets of the division at 30 June 2013 are: Land 80 000 Propagating Sheds 48 000 Sales Office 25 000 Equipment (net) 56 000 Inventory 35 000 Receivables 19 000 Accounts Payable (26 000) Mortgage Loan (50 000) Silky Oak Ltd has calculated the value in use of the division to be $327 000. Required Determine if an impairment loss exists for the nursery division. Show all workings. (1 Mark) 7. In allocating an impairment loss for a CGU...
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...Case No. 3—Case 12-9 Rough Waters Ahead As defined in the FASB Codification, ASC 360-10-20, an asset group is “the unit of accounting for a long-lived asset or assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities”. Therefore, after reading this definition, the assets and liabilities that are included in the asset group calculation for purposes performing the recoverability test are: Net Book Value of the Asset $4.6 Million Net Working Capital Directly Attributed to the Asset $0.1 Million Total Amount of Asset Group $4.7 Million After reading ASC 360-10-35-21, a “long-lived asset (asset group) shall be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable”. The following are examples of such events or changes in circumstances in which this case shows that they needed to be tested for recoverability: B.) A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition E.) A current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group) F.) A current expectation that, more likely than not, a long-lived asset (asset group) will be sold...
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...FASB 144 Impairment of Assets Assets held for use Includes land, building, equipment, natural resources, and intangible assets FASB 147 specifies that intangibles from the banking industry are covered by FASB 144 rules: Long-term customer relationship assets such as Depositor-relationships intangible assets Borrower-relationships intangible assets Credit card holder Intangible assets When should impairment be recognized? Testing each asset each period would be too costly Events or changes in circumstances indicate that its carrying amount may not be recoverable TRIGGERING EVENTS: Decline in market value Change in way asset is used or physical change in asset Adverse changes in legal factors or business climate Accumulated costs in excess of amounts originally expected to construct or acquire asset Current expectation that, more likely than not, a long-lived asset will be sold or disposed of significantly before the end of its previously estimated useful life Current period losses with history of operating or cash flow losses associated with asset To apply impairment tests A long-lived asset shall be grouped with other assets and liabilities at the lowest level for which identifiable...
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...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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...Case 1 Goodwill Impairment Testing Should management have performed an interim goodwill impairment test as of September 30, 2010? Galaxy Sports Inc. (Galaxy) is a U.S. based manufacturer of sports equipment. It is an SEC registrant with one operating segment with three separate reporting units: fitness, golf and hockey. The fitness is the largest division of Galaxy with allocated goodwill of $200 million. The golf division reports $130 million of goodwill and the hockey has $30 million of goodwill. Each division has been a reporting unit for a number of years. Due to the complexities involved with the calculation of goodwill and resource restraints in 2009, Galaxy decided to hire Big Time LLC (Big Time) to perform three annual ASC 350, Intangibles-Goodwill and Other, impairment analyses. In 2009, no goodwill impairment was found by Big Time. In 2010, Galaxy did not use Big Time or any external evaluation firm for the goodwill impairment analyses. The management determined that the prior year step 1 analysis of Big Time could be used based on the fact that assets and liabilities had not significantly changed, the most recent fair value determination had exceeded the carrying value amount by substantial margins, and that no events or circumstances would cause the fair value to go below the book value. The issues at hand are whether or not an interim impairment analysis should have been performed as opposed to carrying forward the prior year step 1 analysis. Management...
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...Memo TO: Professor Brown FROM: Carissa Lambert DATE: April 6, 2015 SUBJECT: Case 11-9 Goodwill Impairment I think that Galaxy management should have performed an interim goodwill step 1 impairment test. Although it was not required, I think it could have been beneficial considering the declines of the past few quarters. They did review ASC 350 and determined that the test was not necessary. If they reviewed ASC 350 then we might assume that they performed a qualitative assessment of the factors listed in 350-20-35-3C (a) through (g). In the first three quarters of 2012, management explained the decline in earnings due to “continued slowing economy and reduced consumer spending.” Deterioration in economic conditions and a decline in earnings compared to expectations are both factors that can cause a drop in the fair value of the reporting units. Galaxy also experienced a sustained decline in their share prices for those three quarters. They had stock prices of $56.75 in 2011 that then dropped each quarter and was down to $25.25 by the third quarter of 2012. If after these factors are considered and management determines that it is not likely that the fair value is less than the carrying value then step 1 and step 2 of the test are unnecessary. Considering that Galaxy management did not perform the interim step 1 test, I would assume that they came to the determination that fair value would not have dropped to less than carrying value. According to the FASB standards this...
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