...Rough Waters a Relief for Depression Sufferers Yessenia Diaz Rough Waters is unlike any film I've seen that tackles depression. While you may be trapped in your own mind at the beginning of this film, by the end you are set free and able to consider life again through the account of Katie Kim. Gray and blue take control over the film and rain drips down onto windows to set the mood for the story of Katie Kim who had failed at committing suicide. Her attempt at suicide was unsuccessful and today she is grateful to have a second chance at life.Rough Waters is a documentary of Katie's current endeavors. Unfortunately, in the United States, there are about 44,193 successful suicides (American Foundation for Suicide Prevention). Katie was not one of these...
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...TrueBlood Case – Rough Waters Ahead 1. How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31, 2010? In addressing this question, consider: The following are the required steps to identify, recognize and measure the impairment of a long-lived asset (group) to be held and used: Step 1: Indicators of impairment — FASB 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.” * In this case, there is a possibility of impairment because of an increased presence of pirates in the area in which Smooth Sailing cruises, the cruise ship’s operating performance has significantly declined, which has directly contributed to a decline in its overall fair value. Step 2: Test for recoverability “If indicators are present, perform a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to the asset (group) in question to their carrying amounts “ * In this case, $2.3million < $4.0million Step 3: Measurement of an impairment “If the undiscounted cash flows used in the test for recoverability are less than the long-lived asset’s (group’s) carrying amount, determine the fair value of the long-lived asset (group) and recognize an impairment loss if the carrying amount of the long-lived asset (group) exceeds its fair value.” •...
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...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...
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...1. How should Smooth Sailings’ management perform the recoverability test for the cruise ship as of December 31,2010? In addressing this question, consider: * What assets and liabilities should be included in the “asset group” as defined by ASC 360-10 for purposes of performing the recoverability test? 360-10-35-21 According to ASC 360-10-35-23 a long-lived asset or assets shall be grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. According to ASC 360-10-20 Glossary: An asset group is the unit of accounting for a long-lived asset or assets to be hold 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. Need explain non-recourse So “asset group” should include: cruise ship, net book value of the cruise ship 4.6 million, net working capital directly attributed to the cruise ship 0.1 million. Total value of asset group: 4.7 million. * What should the multiple operating scenarios impact the recoverability test? 360-10-35-17 According to ASC 360-10-35-29 Estimates of future cash flows used to test the recoverability of a long-lived asset (asset group) shall include only the future cash flows (cash inflows less associated cash outflows) that are directly associated with and that are expected to arise as a direct...
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...February 18, 2016 Research File Memorandum Prepared by: Certified Public Accountants Client: Smooth Sailing Subject: Fair Value Accounting – Asset Impairment Background: Smooth Sailing is a privately-held cruise operator. The company operates a sole cruise ship that was purchased using non-recourse debt from a bank. Nonrecourse debt is secured by the collateral. In the event of default, the lender can only seize the collateral and no further action can be taken against smooth sailing. Smooth Sailing believes their ship is independent of all of their other asset groups. The ship generates its own cash flows. In the current operating year, pirates have entered the area where the cruise ship operates. As a result of this incursion, the ship experienced thirty percent lower cash flows of $1.0 million in the current year. The company does not anticipate this will change in the near-term. This change may require the company to consider an impairment loss on the asset since the fair value (future cash flows) does not exceed the carrying cost of the boat. The boat currently carrying value is $4.6 million while the initial estimate of the fair value is $3.0 million. The debt also carries a value of $4.0 million. This initial estimate leads me to believe that this asset needs to be tested for impairment. The future cash flows should be used from the probability table (Exhibit A) in order to determine the value of the asset. Statement of research problem or question: ...
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...Case 12-9 Rough Waters Ahead - IFRS 1. Cruise Ship belongs to the assets that apply to IAS 36 Impairment rule IAS 36-2 states the Impairment of Assets rule shall be applied in accounting for the impairment of all assets, other than: a) Inventories b) Assets arising from construction contracts c) Deferred tax assets d) Assets arising from employee benefits e) Financial assets that are within the scope of IFRS 19 f) Investment property that is measured at fair value g) Biological assets related to agricultural activity that are measured at fair value less costs of disposal h) Deferred acquisition costs, and intangible assets, arising from an insurer’s contractual rights under insurance contracts within the scope of IFRS 4 i) Non-current assets( or disposal groups) classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations Smooth Sailing’s cruise ship does not fall into any exception of IAS 36, so IAS 36 should apply to impairment of cruise ship. Smooth sailing’s nonrecourse debt should not be included for the recoverability test according to this regulation. 2. Cruise Ship should be impaired based IAS 36-12 IAS 36 provides guidance on which indications entities should consider in determining impairing an asset and Smooth Sailing’s case meets the *indications listed in IAS. ...
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...1. Why did VC Brakes’ change effort fail; what were its three major mistakes? VC Brake’s effort to change failed for three reasons. VC Brake’s effort to change lacked a good sponsor, the removal of obstacles needed for change to be successful, and a sense of urgency. VC Brake’s sponsor was the VP of Operations, James Baynard. James Baynard, according to Ryan, is one of those managers who takes credit, but does not really do anything. Unfortunately for the company, Ryan might be correct. For example, when Ryan asked to be taken off the TQM training to work on the engineering team, James Baynard refused because he wanted to keep up appearances. If you do not have a good sponsor, then the change will never work. There were too many obstacles for any meaningful change to happen. Floor workers seem to know what they needed, such as the woman who complained about the box cutter or the issues with the carts, but management stood in the way of these needs. When workers raised concerns with management, they were often ignored and a quality meeting was canceled for three weeks. When a change did occur, it took too long and cost an arm, a leg, and some of Ryan’s standing at the company. VC Brakes lacked a sense of urgency when Ryan presented recommendations to proper management. If VC Brakes really wanted to implement change, they would not take such a long time for everything. Issues being resolved over several weeks seemed to be a common theme. 2. Evaluate Ryan’s...
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...After reading both “Fall” and “Canvas of Encouragement” I found many differences in their tone. They also are different in many other ways but, the tone is the most important aspect of their differences. The poem “Fall” centers around a child playing in the fall, which leaves the reader with feelings of youthfulness and warmth. It goes to great lengths to give the reader an image of that time of year. “Canvas of Encouragement” centers around an artist without inspiration and out of time. The author of “Canvas of Encouragement” tries to give the reader a sense of helplessness. While different in tone, both of the poems are excellent in their execution of different techniques. The poem “Fall” by Ivy Tech Student Cynthia Long painted a very familiar picture of the fall. She makes the poem have a very warm feeling about it early on, mentioning the colors of the leaves golden-yellow, brown, and orange. Cynthia continues her playful imagery by telling us she jumped in the leaves and tells about her father raking them on top of their, suggesting a child-like innocence. Her explanation of stomping on leaves just to hear them crunch only strengthens her playful nature of the poem because almost every person has done this as a child.Also, the usage of the word “crunch” and describing the pile of leaves as “crisp” makes us almost hear the leaves crumbling. Another poem “Canvas of Encouragement” by Rebecca Hancock paints a much different picture, or doesn't. This poem is much...
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...1. Why did VC Brakes’ change effort fail; what were its three major mistakes? VC Brake’s effort to change failed for three reasons. VC Brake’s effort to change lacked a good sponsor, the removal of obstacles needed for change to be successful, and a sense of urgency. VC Brake’s sponsor was the VP of Operations, James Baynard. James Baynard, according to Ryan, is one of those managers who takes credit, but does not really do anything. Unfortunately for the company, Ryan might be correct. For example, when Ryan asked to be taken off the TQM training to work on the engineering team, James Baynard refused because he wanted to keep up appearances. If you do not have a good sponsor, then the change will never work. There were too many obstacles for any meaningful change to happen. Floor workers seem to know what they needed, such as the woman who complained about the box cutter or the issues with the carts, but management stood in the way of these needs. When workers raised concerns with management, they were often ignored and a quality meeting was canceled for three weeks. When a change did occur, it took too long and cost an arm, a leg, and some of Ryan’s standing at the company. VC Brakes lacked a sense of urgency when Ryan presented recommendations to proper management. If VC Brakes really wanted to implement change, they would not take such a long time for everything. Issues being resolved over several weeks seemed to be a common theme. 2. Evaluate Ryan’s...
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...helps with the identification of the object or substance. Materials: Tray #17, Unknown metal #84 and #338, Unknown liquid #17, Unknown mineral #21, Unknown misc #80 Equipment: 500:5 ML beaker, 10 ML beaker, Centi-Scale, Caliper, funnel Observations: Metal #84; Description: small, grey, rough, no smell, lite weight. Metal #338; Description: Long, lite weight, silver, smooth, odorless. Liquid #17; Description: clear, thick, syrupy, odorless. Mineral #21; Description: Rough, slightly heavy, dark black, rigid, odorless. Misc #80; Description: smooth, clear, rectangular, odorless. Procedure: (attached) Calculations/Data: (attached) Conclusions: TRAY #17 Unknown # Density Identification Metal 84 3.06 g/ml Silicon Metal 338 2.67 g/ml Aluminum Liquid 17 1.21 g/ml 1,2,3 – propanetriol Mineral 21 2.80 g/ml Schist Misc 80 0.014 g/ml Polyurethane Sources of error: I could have splashed out some water when placing objects in beaker to measure. I could have missed measured with the caliper I could have missed calculated the densities due to wrong measurement of mass and volume of the object. The densities were very close with...
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...CEOs and publicists of oil and gas corporations declare fracking as a minimal risk procedure; however, many inhabitants residing in fracking sites have voiced various detrimental by-products produced from the fracking process. Fracking, or hydraulic fracturing, has elicited substantial concerns in health, water availability, water contamination, air pollution, land pollution, and in causing earthquakes. Still, with dated federal regulations, oil and gas companies have meticulously maneuvered fracking procedures by releasing insufficient data to the public; and, appealing to them, and the government, with the possible benefits of generating jobs, economic stimulus, and energy independence. Thus, oil and gas companies blur the harmful impact of fracking with economic incentives....
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...hitting with hammer. 7. Repair small holes in screen. Plug holes with clear nail polish, let dry, repeat until filled. 8. Straighten warped phono records. Place record between two sheets of glass, let sit in sun for a while. 9. Best way to clean phono records. Dip in solution of detergent and water, rinse and wipe dry. 10. Make your own fireplace logs. Roll newspapers up tightly in shape of logs. 11. How to remove oil from a driveway. Cover with sand let stand for a few days, then sweep off. 12. Keep fish hooks from rusting. Stick them in a cork and submerge in some baking soda. 13. Make sandpaper last longer. Back sandpaper with masking tape. 14. How to revive old razor blades. Rub them back and forth inside a drinking glass. 15. Remove road tar from cars. Sodium bicarbonate on a damp cloth. 16. Remove labels from bottles and jars. 17. Cut glass without a glass cutter. Use tin snips and cut under water, smooth rough edges off with knife blade. 18. Easy to unglue stamps and envelopes. Put in freezer for a few hours then flip off with knife blade. 19. Get water out of your watch. Strap watch to light bulb, turn on for a few minutes. Water drops will form on glass....
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...severe drought. It’s so bad that there is a women named Angelica Gallegos hasn’t showered in five months. She says “It’s been terribly rough.” According to officils, 1,300 people in and around the East Porterville area have lost water. The California legislature is trying to create a law to help the situation. Farmers and people and in general will pump water from underground to get enough water for their crops or for everyday lifestyle. People will pump to much of the underground water and over the years, the water has slowly been disappearing. The law states that citizens will not be able to pump water from underground. I believe the law should be in place because this not only will help the drought, but we will be able to access water if we need it....
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...Place the skins in a sunny area such as your windowsill or deck until they transition from yellow to entirely black. They’ll be ready to use in your homemade paper recipe as soon as they are completely devoid of all moisture and pliability. 3 Place 1 cup of shredded recycled paper into a blender along with 2 cups of water. Cover it securely and then blend the combo on high until a gray-tinged slurry forms. 4 Prepare your completely dried banana skins so they can be added to the paper pulp by first rough-cutting them into ½-inch bits and then depositing them into a pot of rapidly boiling water. Allow the material to soften for approximately 15 to 20 minutes, stirring occasionally. 5 The rehydrated banana skins are now ready to be added to the paper slurry already in your blender. Once you augment the mixture with an additional cup of water, replace the lid and process on high until it all comes together in texture and consistency. 6 Place your papermaking mold and deckle in the bottom of a plastic basin with the glass frame facing up. Slowly pour the paper slurry inside the mold while concurrently raising the double frame so all the excess water in your paper mixture drains through. Make sure the paper pulp covers the entire surface area of the mold by hand-pressing it into place; this step will reduce the moisture content so it is easier to release your homemade banana paper sheet from its frame. 7 With a large damp cloth covering your table, place the mold/deckle...
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...71, in Sep. it is 1.52, in Oct it is 1.64, in Nov. it is 1.78, in Dec. it is 1.62The temperature is 60-40 degrees Fahrenheit. The highest elevation was in 1986 at 4,212 feet above sea level. The surface terrain at the Great Salt Lake is sandy, rough, rocky, and kind of grassy.The wetlands are different than deserts because the deserts are humid, hot, and dry, and the wetlands are swampy, wet, and messy. Also wetlands are different from forests because forests are for camping and fun, wetlands are filled with salt for people to swim in. | | | Where in Utah? | | | | | | | | | | Utah’s wetlands the great salt lake | Kayla Bell | | Cattails along the Great Salt LakeCommon PlantsCattails look like hotdogs but don’tEat them you will get an ugly surprise.Duck Weed is mostly on water not landThey look like weeds that might be in Your back yard. Arrow grass is a plant That looks like a stick with flowers. BalticRush is a plant that looks like a poison Plant but really isn’t. Stream Orchid looks Like vines with pretty flowers. SouthernMaidenhair fern is a plant that looks like a bush. | | | Common Animals In Wetlands.Tiger Trout is a fish that looks like a tiger. Water scorpion is a bug that goes in the water. American Bullfrog is a frog that loves to jump and get active. Mallard duck has a green head yellow beak and a beautiful body that is a golden brown. Tiger Salamander is a lizard that has bright colors and might be poisonous. American Beaver...
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