Math Essay Example | Topics and Well Written Essays - 1000 words - 2

Math - Essay Example As such, they are decidedly associated. In any case, note that a portion of the information show that at certain degrees of pay ($ 52,000 and $ 66,000), the sum spent on vehicles decline when contrasted with lower levels ($ 38,000 and $ 40,000). There are a couple of more qualities which contrast from the rest. Be that as it may, the greater part of the information demonstrate that the relationship is sure. The Correlation coefficient is certain affirming the positive relationship between the two factors. Likewise, the estimation of the coefficient is 0.89 which shows a solid connection between the two factors. B. What is the course of causality in this relationship - for example does having an increasingly costly vehicle get you acquire more cash-flow, or does gaining more cash cause you to spend more on your vehicle? At the end of the day, characterize one of these factors as your reliant variable (Y) and one as your free factor (X). So as to distinguish the heading of causality, the two factors are broke down equitably. At the point when an individual spends more cash on the vehicle, it doesn't have any impact on his salary. Henceforth it is apparent that the sum spent on the vehicle doesn't influence or have an impact on the yearly pay of the individual. Be that as it may, when a person’s yearly pay builds, he is bound to spend higher on the vehicle. As it were, yearly pay is the reason and the sum spent on vehicle is the impact. Subsequently the yearly salary is the free factor (X) and the sum spent on the vehicle is the reliant variable (Y). The sum spent on the vehicle (Y) relies upon the yearly salary (X). C. What strategy do you think would be best for testing the connection between your reliant and autonomous variable, ANOVA or relapse? Clarify your thinking altogether with a conversation of the two techniques. Relationship builds up the relationship between two factors, anyway doesn't show the heading of causation

Writing Assignment #2 Fence Standards, from the Fennelly textbook Essay

Composing Assignment #2 Fence Standards, from the Fennelly course reading - Essay Example CPTED offers a structure for coordinating wrongdoing counteraction into urban plans quality. It centers around the decrease of wrongdoing openings and reduces the inspiration to annoy, while supporting positive collaborations between true clients of the space. The goal of observation is to persuade potential assailants that they are almost no conceivable outcomes of an effective assault because of solid guard components. The underlying security layer of building utilizes CPTED to debilitate dangers. Preceding the utilization or executions of observation alternatives, CPTED’s hypothesis shows that the correct plan, just as compelling utilization of fabricated conditions, can diminish wrongdoing. Configuration is one of the key factors before thinking about observation innovation. They are three essential CPTED structure rules that are comprehensively acknowledged. The sort of secures required offices that require mystery and secrecy are reliant on a mix of connected variables that include structure, establishment, assembling, and framework upkeep (Fennelly, 2012). Likewise, not all secures are appropriate most circumstance, explicitly planned secures are generally utilized explicitly given circumstance, subsequently adequate information on essential standards of locking frameworks are unavoidable. Security lighting is a compelling obstruction strategy. Assailants will never enter a sufficiently bright region or reason. This type of security cuts across different areas, for example, parking garages, office space, and section focuses. Entryways, doors and different types of passage must be sufficiently bright in so asâ to take into account perception of people and vehicles coming in and out (Fennelly, 2012). When lighting office grounds, utilizing extensively conveyed low-extreme lighting is ordinarily better than little spots of high-exceptional lighting, on the grounds that the last tends to deliver dead spots for security staff, just as CCTV cameras. This alternative is

What Though the Odds

What Though the Odds Its official: my first semester at MIT is over. After finishing four finals in three days, I packed my bags and headed back home to South Bend. By the time you read this, Ill have been home for over a week but as far as I can tell, not much has changed. And yet, at the same time, everything has. Including me. A lot can happen in a semester, especially a semester at MIT. In retrospect, I realize that in spite of reading the blogs, in spite of talking to upperclassmen and alumni, in spite of going to CPW I really had very little idea of what college life is like. People talk a lot about the transition from high school to MIT. But the word transition implies some sort of slow, controllable change. Let me tell you something: when you get to college, change is neither slow nor controllable its a process that you barely realize is happening. Growth comes in spurts and spasms, and it can hurt. The transition is not a straight line, its a step function. And sometimes all you can do is just hang on. Academically, I had a bit of rough time this semester, and the main reason was 8.012. At this point, you may be wondering (understandably), why did 8.012 make me so miserableand for what matter, what is 8.012? Well, let me give you a little background. As part of the GIRs (short for General Institute Requirements, a set of classes that everyone must take, or pass out of, in order to graduate from MIT), most freshmen take some sort of physics their first semester here. The vast majority take a course on classical mechanics called 8.01. Basically, 8.01 takes your typical college physics class and gives it a uniquely MIT twist called TEAL, which works for some peopleand simply doesnt for others. (Karen has more to say on this topic.) For those who dont like 8.01, or who dont have quite as strong of a physics background, theres an alternative class called 8.01L, which covers the same material as 8.01 but at a slower pace. And then theres 8.012, the accelerated version of 8.01, occasionally called Physics for Masochistsand for good reason. Even before actually coming to MIT, I had been warned about the classs notorious difficulty. As if that werent enough, my parents, who have always been incredibly supportive of me and all my academic endeavors, expressed more than a little surprise when I told them about my decision. Their main point: why would I want to put myself through such a difficult class so early in my academic career, particularly when I had no ambition to be a physics major? Well, I replied, I think I have a pretty good preparation in physics from high school; and, besides, I really want to challenge myself this semester, to find out where my limits are. So I signed up for 8.012, and at first life was good. I loved the professor and his lecture style, I liked my TA, I did well on all my problem sets. And then, just when everything seemed to be going so wellI failed the first test. I had never failed a test before, but this time, I absolutely blew it. Looking back, I know where I went wrong. I had a basic grasp of the necessary concepts, but I couldnt apply them to save my life. In other words: although I understood the fundamental physical laws, I was completely lost on the details of actually solving the problems. (I also completely blanked on how to do simple harmonic motion, which turned out to be crucial. Live and learn.) Needless to say, this did not bode well for me. Do you guys know what fifth-week flags are? Basically, theyre an official sign that youre struggling in a course and, well, I got one in 8.012. At this point, being flagged was basically a formality, but it definitely solidified my understanding that this was pretty serious. I talked with my professor, my freshman advisor, and my parents at length about whether or not I should continue in 8.012 or drop down to regular 8.01. The unfortunate caveat: I had only two days to make my choice. Thinking back to those 48 hours, when I was in the middle of making a decision that could potentially impact the rest of my academic career at MIT, one memory stands out particularly vividly. I remember running into one of my good friends who was also in 8.012, and going with her as she picked up an Add/Drop Form to switch into 8.01. As she took her form, she persuaded me into taking a blank form as well just in case I decided to switch. The irony of the situation? She had done far better on the test than I had. Ultimately, I decided to stick with 8.012. I wasnt happy with my performance on the first test, but my problem set scores were strong, and I was determined to turn things around. Call it a curse, but Im actually a very stubborn person at times (although I generally prefer to use the word tenacious), and I wasnt willing to give up on 8.012 just yet. So I got working. I re-evaluated a lot of things in my life how many extra-curriculars I was involved in, how I was spending my time outside of class, how I was preparing for 8.012 itself and I made more than a few adjustments. I started going to my professors office hours, I began to ask more questions during my recitations, and most importantly of all I ended up becoming part of a regular study group. Because our problem sets were due on Friday, we met every Thursday night at ten oclock, like clockwork, and didnt go home until wed worked out every problem together. Central to our success was the fact that we didnt simply share answers amongst one another. Rather, we actually worked with each other to make sure we all got every problem, from beginning to end, so we understood not just the solution, but the process behind it. Fast forward to the middle of December. The second of our two tests had come and gone, as had our big project. (My study group and I tested the urban legend of whether or not a penny dropped from the Empire State Building can kill a person below. Our conclusion: yeah, itll hurt. But kill you? Not likely.) Although the numbers indicated I was doing better than I had and you know how we MIT students love numbers I wasnt in the clear yet. One challenge remained: the 8.012 final exam. To put it bluntly, I studied harder for that test than I ever had in my life. I used every resource I had or could find on the Web. I took previous semesters exams, I worked through problems I had missed on old problem sets and tests, I read and re-read the book. When exam day came, I sat down to take the test knowing I had prepared as best I could. For the next three hours yes, final exams at MIT are three hours long! I worked as quickly, almost feverishly, as I could to get down as much 8.012 knowledge as I knew. The final wasdifficult, to say the least. But strangely enough, during the exam, somethingrather extraordinary happened. For the first time all semester, I actually felt like a physicist. I was making connections that I had never before thought possible, solving problems in ways I wouldnt have believed I was capable. When I walked out of the exam room, I honestly had no idea how I had done whether I had failed or passed. But I couldnt help but feel that I had achieved some sort of victory. When I think back on the past semester, that sensation is one of the memories I treasure most. I know its a paradox, that I would want to remember such a taxing experience. Its sort of like the dual meanings of IHTFP: sometimes, its the worst experiences in your life that matter the most. Ultimately, this story has a happy ending. I survived 8.012. I still have that Add/Drop Form I mentioned, and I plan on keeping it until the day I graduatea memento, of sorts. Due to the Pass/No Record policy for first-semester freshmen, I wont know by what margin I passed until I return to MIT, at which point my advisor will personally reveal my secret grade. Whatever my final grade, though, my official transcript will always bear the simple, modest letter P. And thats good enough for me. Ultimately, though, this entry isnt just about me. Its about all of us freshmen here at the Institute: my comrades, my peers, my friends, who struggled with me and alongside me not just in 8.012, but in all the classes MIT has to offer. I also want to take this opportunity to thank Caroline, Laurie, Stunes, Michael, Mark, Jenny, Jedediah, Itaru, Maddie, Rob, Beebe, Bob, Tanya, Josiah, Clara, and all the others who helped me along the way. Even if you never read this, I want you to know that you guys are my heroes the real heroes of 8.012. Without you, I know I would never have passed. All that said, I got a lot out of 8.012. I walked into the class with a strong grasp of single-variable calculus, plus one year of basic experience with mechanics and EM from high school. Despite my difficulties, I walked out with a much more thorough understanding of mechanics and Newtons laws than I had ever thought possible. I still remember learning about momentum transfer (a.k.a. how rockets work) as one of the first lectures where I truly got something, even though I know Im never going to be a rocket scientist. Thanks to 8.012, I got my first taste of what real physics feels like. Because ultimately, its not just about solving problem sets, but looking at the world and discovering models, equations, solutions. Thats pretty special, and in fact thats why I fell in love with science in the first place. If you choose to take 8.012 and I would highly encourage all of you to consider it you almost certainly will be challenged. But thats not a bad thing, in my book the entire college experience is about challenging yourself, after all. And 8.012 is not impossible. You dont need multi-variable calculus or differential equations to beat it although your work will be harder if you dont have a solid grasp of single-variable calculus. What you really need is to be smart, adaptive, and (most importantly) willing to work. Ultimately, 8.012 is designed to be rigorousnot to break you in half. Because when you get right down to it, theres really no simpler way to put it: MIT is hard. And the transition can be difficult. But thats part of the reason Pass/No Record exists to help ease that transition, to tone down the stress (but not the workload!) of the first semester. These past four months have, without a doubt, been the most challenging of my life and the most rewarding. Ive learned more about multi-variable calculus, biology, chemistry, and of course physics than I ever thought possible. And, perhaps even more importantly in the long run, I learned what it takes to survive at MIT. At least, I think I did. =) As we head into the New Year, I want to wish all of you the best of luck on your applications. Wherever you find yourselves in the fall of 2008, I know you have the power and the potential, not simply to do well, but to excel. When the world kicks you down, get right up and kick it back, because life is too short to worry about what could have been. Learn from the past. Embrace the present. Look forward to the future. And, no matter what else happens, always always live your dreams.

The Reality Of Reality Tv Essay - 1601 Words

People watch media for different reasons. Reality TV is a common source of entertainment on various channels and media outlets. The purpose of reality TV is to â€Å"promise more drama, suspense, and laughter while pushing the envelope of what is morally and socially acceptable, funny, and, of course entertaining† (Glouner et al.). This type of media allows real people to connect to those on TV. Reality is not completely real, there are aspects of it that are scripted, rehearsed and completely altered (Crouch). Reality TV has existed for over 60 years. The first reality show debuted in 1948 and it was called â€Å"Candid Camera†. This show consisted of hidden cameras capturing pranks that were done to the contestants (History of Reality TV Timeline). This show was inspired by a radio show that hid microphones and it led to the creative thought of hidden cameras. Within a year and a half, the first game show was created (History of Reality TV Timeline). This is a differe nt form of reality TV. People are able to demonstrate their intellectual ability on the spot. As it was seen in the documentary â€Å"The Quiz Show†, even game shows are not completely authentic. In the documentary it showed how the quiz show was rigged and people were hand picked to be on the show based on their looks. Most of the people were blonde and blue eyed, stereotypical American. In 1965, the first dating show was aired (History of Reality TV Timeline). The show was comprised of a female picking one male out ofShow MoreRelatedThe Reality Of Reality Tv951 Words   |  4 Pages Reality TV and You Television shows were created to entertain the public and soon generalized shows became a bore. Reality TV shows are widely varied but are similarly based on the lives of non-fictional characters that brings out their daily challenges and achievements. This genre of TV programs gives a huge impact to its audience of, mostly, twelve to nineteen year olds. Critics and bloggers heavily criticize the negative teachings of Reality TV and indirectly force viewersRead MoreThe Reality Of Reality Tv908 Words   |  4 PagesToday’s audience grabs hold of reality TV now a day. Looking forward week to week to watch these unscripted real life situation shows. In a way it s becoming increasingly hard to avoid not watching. Some viewers see the TV show and tend to be attention seekers, and reality TV allows them to fantasize about achieving status through instant fame. Too much reality TV may lead viewers to idealize real world situations, like romanticizing dating. Like when Truman saw th e girl in the library who was anRead MoreThe Reality Of Reality Tv991 Words   |  4 PagesI truly believe that reality TV needs a different name. At first reality TV was created with the aim to depict reality, but over time different interests and actions have resulted in doing the opposite of this. I would even go so far to say that reality TV has become just as fictional as fiction based television. â€Å"Reality† is defined as â€Å"the world or the state of things as they actually exist, as opposed to an idealistic or notional idea of them†. However, Reality TV in no way represents this definitionRead MoreThe Reality Of Reality Tv Essay2065 Words   |  9 Pagesis also generally known that children can be easily influenced by what they see on television. Reality TV is no exception to this rule. It may appear that reality TV is a benign phenomenon but it is in fact a virus that has quickly diseased our society. More specifically, it attracts girls most mercilessl y by affecting them negatively as to how they perceive themselves. Indeed, girls who watch reality TV learn that deceit and meanness is normal behaviour in order to achieve success, begin to self-objectifyRead MoreThe Reality Of Reality Tv Essay1919 Words   |  8 PagesCreeber (2008) the genre of reality TV is typically shaped by the weekend program, followed by results and elimination – hence, Dancing with the Stars has performances on Sunday and results of voting of Monday. As shown by Throng (2015), this episode, screened July 12, had 346,930 people watching with a potential audience share of 8.3% of total viewers watching TV at that time, which can be compared to the competition on other stations (Neilsen, 2015; Throng, 2015). TV One screened Sunday at 7-8pmRead MoreReality Tv1014 Words   |  5 PagesReality TV Blake Brandt Reality TV has unseen effects and is detrimental to society. Reality TV is the current trend on TV that has brought back the buzz to television, but it also has unforeseen effects on its viewers. Some examples of Reality TV shows include: American Idol, The Bachelorette, Americas next top model, fear factor, etc...These shows range from singing talents, overcome their fears, to looks and beauty. Reality TV brings drama and voyeurism to its viewers by making its viewersRead MoreReality Tv1076 Words   |  5 Pagesmedia, reality TV stars like Snooki and Kim Kardashian are on the rise. Most channels on television have at least one reality show, from following housewives to remodeling homes of real life families. However, there are some reality programs that display bad examples, especially for young audiences that are keeping up with each episode. On MTV people see girls being drunk in public, addicts doing drugs, and young girls raising babies at young ages; these are situations seen on reality TV shows. JeremyRead MoreReality Tv869 Words   |  4 PagesRUNNING HEAD: Reality Television, why? Reality Television, why do we watch these shows? Norma Gallegos ENGL122 Allorah Wyman Feb 4, 2013 Reality Television As a child growing up watching televisionRead MoreReality Tv1784 Words   |  8 Pagesthing they do is turn on the television set. According to a survey done by Emory H. Woodard and Natalia Grindina, â€Å"on average, people are watching over 51 hours of television- that is five hours a day of TV on average for the last quarter of the year. Teenagers (12 to 17) spend 103 hours watching TV a month, whereas senior citizens (65 or older) spend 207 hours†(Media in the home) With the slumping economy, people are forced to stay at home to conserve resources. Although there are plenty of economicalRead More Reality TV Essay1074 Words   |  5 Pages Reality TV: The Rise of a New Show â€Å"The Contender† nbsp;nbsp;nbsp;nbsp;nbsp;One of the newest shows to hit the vast majority of reality TV shows that already exist is The Contender. The Contender is a show that focuses on all the hardships, training, pain, and dilemmas that a boxer, who is preparing to fight, must endure. The Contender will be a very successful show, because it has the attributes of raw emotion that can’t be found when a director is yelling ‘action,’ and ‘cut.’ By raw emotion

Mohandas Gandhi`s Use of Nonviolent Methods to Achieve...

The mission of Gandhi’s life was to help the people of India free themselves from British rule. Many people have struggled for independence. They have fought bloody battles or used terrorism in an attempt to achieve their goals. Gandhi’s revolution was different. He succeeded as an independence leader with the use of nonviolent methods. The young Mohandas Gandhi did not seem as a boy that would become a great leader. He changed as he studied in Britain and practiced in South Africa. He fought for the rights of Indians in both South Africa and India. Gandhi believed that all people in the world are brothers and sisters. He didn’t hate the English. Actually, he saw a lot that was good about them. His nonviolent means of revolution†¦show more content†¦He once stole gold from his brother and wrote an apology letter that touched his father’s heart. His father did not punish, but embraced him. This made Mohandas realize that truth and love had power. After his father passed away, he went to England to study law. He went under three conditions of his mother: not to touch meat, alcohol, and women. He had a difficult time. He did not fit in with the British. He changed himself by wearing more modern clothes and taking classes such as dance. He found a society that was vegetarian and joined. He also found a vegetarian restaurant and had his first full meal since he arrived. He finished school and his exams. He then returned to India and realized that he had studied law, but had not learned how to practice it. He did not have knowledge about Indian law and worse of all, lacked ability to speak in public. He wasn’t able to speak in his first court case. Gandhi took an offer to work for a firm in South Africa. The firm needed someone with the knowledge of English language and law to represent them for a year. He went to South Africa and while he was riding on the train, a white man entered the first-class compartment in which Gandhi was sitting in and looked at him then left. He returned with two officials who told him to go to the third-class car. Gandhi claimed he had a first-class ticket and refused to leave. Indians weren’t supposed to be in the first-class area and Gandhi had to be thrown off.Show MoreRelatedMartin Luther King And Malcolm X Essay882 Words   |  4 PagesMartin Luther King Jr. and Malcolm X were two freedom fighters who shared the same goal, which was freedom, justice and equality, but differed in their methods. Martin Luther King, Jr. meeting Malcolm X in the U.S. Capitol, 1964., 2017 Radical reform made sense to King while rejection and revolutionary rage made more sense to to Malcolm X (Waldschmidt-Nelson and Waldschmidt-Nelson, 2012). Dr. King was a Baptist minister who believed in the equality of all people beforeRead MoreMahatma Gandhi : The Hero Of The Indian Independence Struggle1723 Words   |  7 PagesMahatma Gandhi, the hero of the Indian Independence struggle, was the architect of a form of non-violent civil disobedience that would influence the world. Mahatma Gandhi studied both law and religion and advocated for the civil rights of Indians, both at home under British rule and in South Africa. Gandhi became a leader of India’s independence movement, organizing boycotts against British institutions in peaceful forms of civil disobedience Born on October 2, 1869, in Porbandar, India, Gandhi grewRead MoreComparison of Civil Disobedience Essay3692 Words   |  15 PagesComparing the Civil Disobedience of Martin Luther King Jr., Henry David Thoreau, and Mohandas Gandhi   Ã‚  Ã‚  Ã‚  Ã‚  From the onset of man fighting for freedom or his beliefs, the question has always been whether one person can make a difference using words rather than wars. Philosophically, the concept of civil disobedience would appear to be an ineffective weapon against political injustice; history however has proven it to repeatedly be one of the most powerful weapons of the common man. Martin LutherRead MoreWhen Is Work For Rule Effective? Essay2359 Words   |  10 Pagesof a difficult or unreasonable supervisor who keeps pressuring you to work overtime or do something that you aren’t comfortable with, you (the employee) can apply the work to rule to get your point across. Being that work to rule would be used as a method of influencing negotiations without going on strike. What employees do is cover just their duties but do nothing on their own ingenuity Work to rule is also effective when workers do this collectively, being that it is a call for workers to governRead MoreA Comparison Between Booker T. Washington (19th century) and Martin Luther King Jr. (20th century)5383 Words   |  22 PagesMartin Luther King, Jr. -- prime mover of the Montgomery bus boycott, keynote speaker at the March on Washington, youngest Nobel Peace Prize laureate. But in retrospect, single events are less important than the fact that King, and his policy of nonviolent protest, was the dominant force in the civil rights movement during its decade of greatest achievement, from 1957 to 1968. II.BOOKER T. WASHINGTON A. HISTORY Booker T. Washington was born a slave in Hales Ford, Virginia, reportedly on AprilRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pageshumans vastly exceeded that of any previous era in history. In a century where human communities globally and individuals locally had the potential to be much more intensely connected by new communications technologies, state-sponsored programs to achieve autarky, a global epidemic of ethnic strife, uncontrolled urban growth, and the dissolution of extended family ties in many societies divided nations and communities and isolated individuals to an extent unparalleled in recorded human history.

Accounting Treatment of Intangible Assets Free Essays

Accounting Treatment of Intangible Asset Draft Pace University ACC692 Summer I By Yigal Rechtman July 30, 2001 Introduction What is the problem? Accounting for intangibles has gained prominence in the past few decades due to changes in the way the business world operates. The technological revolution and in particular, the information age, has brought intangible resources to the fore of the business environment. Businesses ( even the most traditional production manufacturers ( are moving towards an information age where a competitive edge is increasingly linked to resources other than the fixed and liquid assets as understood by Generally Accepted Accounting Principles (GAAP). We will write a custom essay sample on Accounting Treatment of Intangible Assets or any similar topic only for you Order Now Some research has shown that accounting for Intangible Assets (IA) – a general term that will be defined and separated later – will fulfill the accuracy requirement of the accounting functions and reports. Other research has shown that accuracy will have to be traded off with relevance of the accounting functions and reports. Still other research claims that neither accuracy nor relevance are served by accounting for resources that do not meet the current definitions of Assets under GAAP. Accordingly, there are two questions regarding the accounting for IA: 1. Should the Generally Accepted Accounting Principles recognize as financially relevant and accurate events that arise from IA? 2. How should GAAP account, process and present these IA related events (if the answer to question number 1 is positive. ) Question number one is answered in the positive: the existence of IA in the current business environment is proven in repeated investigations. Further, the economic effects of IA on corporations has shown that not disclosing or accounting for such resources amounts to miscomunications regarding the activity and financial state of a business. The research that was used in this paper has shown that Intangible Resources are increasingly a factor in the business world. Intangible resources, as will be discussed below, is a super-set group of strategic elements that contribute to the success of a business. IA, in turn is a sub-set of the Intangible Resources. The paper intends to explore the current range of thinking relative to IA and how such resources should be valued, recognized and presented in the financial reporting of U. S. companies. The question of how to account for IA poses different challenges, some of them related back to the answer of the first question. As this paper will show, recognizing IA on an entity(s books can be seen as a natural next step, especially for certain knowledge industry type businesses. However, the challenges to the issue of recognition remain: how to determine IA in a meaningful manner? How to report IA and what are the possible ramification of alternative accounting treatments? Scope and Method of Exploring the ProblemScope and Method of Exploring the Problem The process of finding information about the topics relating to IA, and obtaining an understanding of the issues, involved an introduction by means of participating in a conference on the subject and obtaining complimentary readings of published articles. The Third Annual Conference on Intangible Assets, sponsored by New York University(s Ross Institute produced a documentary of the presentations, which were used in this paper. Additional published material was obtained through the ABI-Inform database, by searching for (Intangible Assets(, (Intangible Accounting( as well as (Assets Valuation( and (Appraisal, Intangibles( for the years 1976-2000[? ][i]. The search was limited to articles available in full form on line (versus articles in which only the abstract is available on line. ) This paper refers to twenty articles that were obtained through ABI-Inform and ten articles from presenters at the NYU(s conference. Two points should be made in terms of the scope of the discussion. First, the discussion includes IA as it is captured and presented for external, possibly audited, users of the entity(s comprehensive financial statements. Unless otherwise stated, financial statements herein are presented with conformity of United States( Generally Accepted Accounting Principle (GAAP). Within the latter confines, estimates such as amortization and useful life of an Intangible Asset (IA), although a valid issue, will be generally out of the scope of this paper. The reason for the limitation is that for cash flow purposes, as well as for balance sheet analysis, such estimates represent regulatory requirements and provide little by way of capturing the essence of the issues surrounding IA. Therefore, the ultimate purpose of this paper is to venture out of the confined safety of U. S. GAAP and investigate what other isms are possible for presentation of a Statement of Financial Position which incorporates intangible assets. The method of this paper consists of discussing the three criteria which are used to assess the alternatives to accounting IA: valuation, recognition and presentation. Each of these criteria is measured on a scale from 0 to 100 (alternatively, from 0. 0 to 1. 0) to show the extent of the departure of the alternative from the currently accepted method, usually the Generally Accepted Accounting Principles. Because Goodwill is already an established IA under current accounting rules, it will be discussed first (for each criteria) to show the extent of the existing treatment. Although other IA such as Human Capital or Patents exist, they are often either unaccounted for or simply replaced by a generic (Goodwill( entry on the books. Although they are all intangible resources[? ][ii], it can be shown that not all are Assets (as defined herein). This paper will also explore the possibility that, perhaps intangible assets such as Human Capital should not be substituted for by the generic (Goodwill( entry. Definitions Some unclear, overlapping and unstructured definitions occupy the set of IA issues. in turn, some researchers have used inconsistent definitions of IA, reducing the transparency that accountants and financial experts have to discuss these issues. Although excellent analysis has been published, such research is often not consistent in scope or definition to other frame work and conceptual essays that are contemporarily published. Therefore, aside from giving this (creature( a proper name, and calling all its parts using the same taxonomy, coupled here from various sources. The dictionary defines IA as (an asset that is saleable though not material or physical([? ][iii] and (Intangible: †¦ an asset that can not be perceived by the senses†¦ such as Goodwill or dedication([? ]. According to the FASB, an internally generated IA is proposed to be defined[? ][v] as: (1) a past event that has a (2) measurable effect and that presents a (3) future benefit. The FASB Special Report[? ][vi] states that there is not a need for different rules of recognition for internally and externally generated IA. The FASB clarifies that internally generated IA is simply an (Asset( without a physical presence, nor does have to it be an external acquisition: as long as all three tests are conformed with, any business event or process can produce an IA. The FASB further notes that there is an embedded conflict in this definition because it contains a departure from the (historic cost( principle. The move to a (forward looking( definition is defended by the FASB in making an argument for further disclosure, not a modification for the format and content of the existing presentation rules. In this presentation, for the purpose of defining IA (internally or externally generated) the FASB definition will be applicable. Intellectual Capital (IC): A business entity uses three types of capital: physical, financial and intellectual[? [vii]. Intellectual capital (IC) is defined as an intangible asset that is not financial or physical and that has been (formalized, captured and leveraged to produce a higher-valued asset([? ][viii]. The raw material, captured and formalized in the process of capitalization of IC, is knowledge. Knowledge resides within an individual, a group of individuals or entity-wide. Knowledge that is structured in a formal manner (usually with an information system, computerized or otherwise) is just data. When it is purposeful and useful, data is considered information. Information made use of is knowledge[? ][ix], which can become an IC. In the discussion of IC, several disaggregation of IC exist. For the purpose of this discussion, the following categorization will suffice as (all inclusive(. This paper does not intend to be exhaustive in its definitions. It can be shown that other examples of IC can be found (and the definition extended) without diluting the effect of the issues at hand. The classification proposed in this paper uses the following examples of IC: Human Capital, Intellectual Capital and Structural Capital. Human Capital (HC) is arguably the most elusive from accounting for in financial or quantitative terms. Some[? ][x] argue that HC is the most active value driver in the business world today. Intellectual Capital (InC) has been at times presented under different names, too: (Patents and brand names[? ][xi]( or Social Capital (the latter is a definition of a hybrid of Human Capital and Organizational Capital. ) InC, abstractly is intellectual property that stem from (or relate to) innovation within the entity(s business. Structural Capital (SC) can be better described that defined: SC is any leverage that can be described in terms of the relationships of functions within the organization and the leverage of entities outside the organization. For example, a customer base relationship – qualified or quantified – is a SC that can be portrayed as an external relationship; an Enterprise Resource Plan (ERP) that allows departments within a company to facilitate resource allocation is an instance of SC. Goodwill: Goodwill is arguably the most conforming IA to GAAP: It is the excess of Fair Value (FV) over Book Value in a purchase transaction. Currently, treatment of any of IA has been confined to Goodwill produced on the balance sheet from acquisition under the purchase method. As the only allowed IA capitalization, Goodwill appear in many studies pertaining account for IA. For GAAP purposes, three tests are applied to allow recognition of an event as an Asset: 1. the event is a past-event, 2. it is measurable and 3. it contains probable future benefit. Goodwill passes the (past event(, (measurable effect( and (future benefit( tests. The reason Goodwill can be seen as a past event is that it is easy to date the creation of an acquisition under the purchase method where the fair value (FV) of an acquired entity is lower than the adjusted basis (AB) to the acquiring entity. Goodwill arising from a consolidation, merger or takeover transaction has produced inconsistent definitions of the (other( classes of IA. For example, at times a well trained workforce is describe plainly as (unrecognized Goodwill( due to the disallowed recognition under GAAP (the proper classification for such a workforce is HC). Although this paper is not intended to disprove these notions, definition clarification can aid in seeing the general direction of accounting for IA Evaluating possible answers to the question of Accounting Treatment of Intangible Assets Treatment by an accounting method is based on Measurement, Recognition and Reporting dimensions. In order to present these dimensions, this paper will attempt to survey the range of possibilities and plot them on three dimensional coordinate axises of possibilities: 0 being the most conservative point and 100 being the most (daring( in terms of relevance and accuracy. Thus, the treatment of IA can create a multi-dimensional view of the accounting classification, reporting and even auditing. Imagine a three dimensional cube with an X, Y and Z axises. On the X axis spread are the ideas about recognition of IA. On the Y axis we shall plot the various metrics (measurement) that are proposed for IA. Finally on the Z axis will lie the proposed solutions for the presentation aspects of IA. The difference between recognition and metrics should be explored further: metrics are the models upon which, ultimately, monetary amounts are made available for classification. Recognition, on the other hand, are the issues that mandate the accounting perspective of the monetary (and possibly non-monetary, too) information that can be captured. The matter of presentation touches on the financial statement and the disclosure issues that surround IA. Measuring and Valuing Intangible Assets Goodwill measurement is the only existing allowed GAAP-related event. The measurability of future benefit from Goodwill is based on known measures of financial events, namely the Adjusted Basis (also known as Book Value, or AB) and the Fair Value (FV). In a Goodwill event, the FV is the purchase price. The AB amount is discernable; the FV amount can arguably be changed according to market and strategic conditions. This discussion will assume, however, that FV is a fixed amount, available to accountants and the public. Therefore, Goodwill is an excess between two set amounts, Fair Value (of assets acquired) and Adjusted Basis (paid by acquiring entity). By definition, this is a measurable amount. Realizing Goodwill can be stated this way: the reason an acquiring entity is willing to pay more for the acquired entity more than the estimated assets( FV is because of difference of assumptions in the definitions of FV. Therefore, the FV to the acquiring corporation is different than the FV to the acquired corporation: the former sees future cash flow that is greater than the cash flow seen by fundamental look at the balance sheet of the acquired entity. In a sense, this is a statement about the value of the effect of (gamma( ( the effect of (growth( ( in the example given elsewhere in this paper (see Appendix). Thus, the acquiring entity sees a measurable amount of inflow of cash that can justify the excessive cost up front. Current research indicates that IA and, in general, non-financial events are measurable. The main conflict is deciding on which model to rely on, and moreover, which model to use as a standard measurement. The problem with measuring IA is that such measurements are too specific to an industry and perhaps to a particular entity. Research yields plenty of data showing how measurements can be conjured up to measure certain non-financial, intangible events. For example, measurements models exist to quantify information[? ][xii], or the value of business alliances[? ][xiii], et cetera. These models show that values of quantity, rate of growth and other statistics can be obtained at a feasible cost[? [xiv]: (existing techniques and expanded use of nonfinancial metrics seem to offer a more cost effective solution. ( However, the FASB Special Report states that making such proprietary measurements useful for general purpose accounting and financial reporting is not likely. The problem with value models or future-inflow metrics is that they are estimates. Like depreciation schedu les, valuation methods are based on assumptions. Because they often include not just one or two variables but numerous independent variables, the number of assumptions grow at least in linear proportion to the number of variables. For example, a Human Resource valuation model by Skandia, an insurance and financial corporation (Sweden) has been criticized for having up to 140 variables[? ][xv]. Unlike depreciation, which requires disclosure of one or two assumptions, disclosure of such complex models, even if they include only 5 to 10 variables, can be quite unfriendly to the user. Furthermore, a multi-variable model is generally susceptible to greater risk of contradicting of any of the assumptions, leading to invalidating the results of the entire model. Generally, measuring IA is a departure from historical cost[? ][1]. GAAP requires that the cost, or past event principle, guide any valuation. This requirement is in keeping with GAAP(s frame work of conservatism. When an IA is appraised in value it becomes a forward-looking measurement which is not compatible with other elements of GAAP. Future Value is the opposite of the principle of reliability in GAAP driven financial reporting: the accuracy of past events reported is the crucial element of its reliability[? ][xvi]. However, value projection can be manipulated to create certain effects. For example, a projection can be made by Management (and included in a financial report) about the future effect of a certain Internet domain name that is owned by a company, such as (money. com(. The projection is unique enough that it cannot be verified by other sources. In order to have measurability of IA, a compromise between the forward looking and historic cost principles is sought. Seemingly, past-based and future based measuring can not be consistent. It may be possible however to reconcile the projective nature of valuating IA and the required verification by historic cost in GAAP by creating an appraisal mechanism. Arguably, appraisals can be done by means of three approaches[? ][xvii]: cost, comparable market or income. Approaches used in Appraisals: Approaches used in Appraisals The cost approach estimates the value of an asset at an arm(s length transaction; this approach is inapplicable to IA; for example, HC is not measurable or even possible to conceive as an (arm(s length( transaction. Goodwill, also by definition, can not be an (arm(s length( transaction because an excess is paid by a purchaser above the FV of an acquired target. Similarly, SC can not be assessed this way because of its unique, untransferable characteristic. The market approach states that appraisals of similar purchased (or sold) goods or services can be a basis for estimating the value of the transferred property. Although a model for HC or InC can be built based on the market appraisals approach, SC can not be fit into a model that includes transferring assets in an exchange. IA of that nature loses its value in such a transfer. The income approach is most fitting to the accounting use in terms of IA. Present Value analysis is available and established within GAAP as a model. Its application in an IA valuation depends on the class of IA. Goodwill, for example, is inherently suited to the income approach valuation: the excess over FV represents the purchaser(s belief in enhanced cash in flow over a known (fixed) length of time, such that this inflow will surpass not only the declared FV but also the (higher) purchase price. However, SC has little known useful life, as does in part InC. For example, a distributed warehousing corporate structure, or a Just In Time production process can not have a reasonable income based appraised value because their useful life is not known, nor can it be averaged in the same way that for example, investment in employee training (HC) can be. However, HC is not completely compatible with the income approach, either: employee satisfaction and loyalty (both IAs) are similar in concept to the element of (going concern( because once HC(s useful life is in doubt, the going concern of the entity is generally in doubt, too. Users of financial statements are often wary of appraisals as they represent – at best – a range of possibilities. Consequently, an approximation of value diffuses the utility of fundamental analysis of the financial statement in question. At worse, appraisals represent a biased, subjective and diverted view point of the management. Even in an honest attempt to value an IA, a range must by provided or alternatively, a tradeoff measure of (confidence level( accompanies any so-called (fixed( dollar amount. In any way, an Appraisal[? ][xviii] does not produce a consistent monetary measure. On the Y axis all appraisals are at the high read: unsubstantiated, (daring() end, at Y=90. A (Real Options( valuation model describes a series of future inflow of cash (or other benefits or desirable effects, such as employee morale) in a recursive manner: the first event (event number 1) in the series is an evaluation of the chance that a successful beneficial event will come to pass i n the second event (event number 2). For events that are not the first event, (Real Options( model defines the event number N+1 as (if event N has been successful to obtain a desired result, evaluation of the possibility of event N+1 to occur is computed, along with the possible benefit of N+1. If event N has a result that is undesirable, the entire process ends. ( So, instead of seeing the model of future cash flow (or desirable result events), a Real Options model does not have a (useful life( but attempts to predict when the series of events will end and what the accumulated result will be. The Real Options model, however weak (in terms of assumptions or addition to understanding of (useful life(), does solves another conflict in measurement of IA: the conflict between consistency of an entity-specific measurement and the fair-value approach. The key for consistency is that no assumptions are made a-priory to using the model: each step has its own unique scenario and set of assumptions that can be extended and extrapolated by an external user or for internal use[? ][xix]. Because it is a projective model where future benefits are based on some assumptions, it can not be much more conservative than any value model conjured up by managers (or auditors). Consequently, (Real Option(s( place on the Y axis is 85. Proprietary Value Models: Although research abounds with successful examples of special valuation model, the test of consistency is a challenge to these models: (1)consistency of measurement over time (because not enough materials have been collected under any particular model) ; (2)consistency between business units (because the measurements are proprietary and a valuation model that fits an insurance corporation(s will be likely mot fit for a flower-delivery corporation or even an academic institution). And (3)consistency with GAAP: although these measurements are all non-GAAP compliant, by definition of this discussion, they do not rely on GAAP in their assumption. These models often use non-financial reporting assumptions that puts them closer to cost accounting than to financial accounting. For example, banks and lending institutions use proprietary value models to assess credit worthiness of certain IA-laden companies[? ][xx], although these valuations are typically limited to IA such as patents or copyrights because they have leverage in marketable or contractual terms[? ][xxi]. Simply indicating to the user ( external or internal ( that certain valuation is (estimated( or (based on a model( without specifying the assumptions, can lead rendering the valuation an act of providing useless or mis-stated financial value. An abstract standard setting is required to fulfill the task of measuring IA. Attribution of Income: IA can be attributed and recognized by measuring normalized operating income and subtracting the portion of income attributable to other classes of assets. This is a generalized value model that is based on fewer assumptions. It, too, can be located at Y=100. Discussion of examining the range of measurements available for Intangible Assets: On the axis of measurement (Y in this paper), some possible points can be plotted: first, measuring cost is the GAAP derived method (Y=0). For example, historic cost of training, benefits and other outlays of resources can be aggregated to measuring the intangible value of Human Capital, as an asset. Of course, whether such measurement can be recognized or reported must be construed on the respective X and Z axis, as presented elsewhere herein. The historic cost measurement will be on the 0 point of the Y axis (Measurement). In contrast, at the maximum point on the Y axis (Y=100), we plot the concept that allows any proprietary value model. Whether it is acceptable as consistent (read: GAAP compliant) or not, value models are available for managers and users of financial information on any IA-based event. Data mining and computer-oriented accounting information system make creating such models a relatively easy task, albeit a proprietary tool for the reporting entity or industry. Appraisals were often hailed as the magic bullet for such metric setting and some might set that to be the magic (Y=50( on the Y axis. But, as shown earlier in this presentation, appraisals are simply value models that have been warranted or certified and are founded on their own (multiple) assumptions. Because applying the right mix of different appraisals methods, human judgement and experience causes variation in the consistency of this valuation[? ][xxii], appraisals can not be a consistent or reliable method of measuring IA. Thus, appraising an IA receives a mark of 90 on the Y axis. As alternative of future benefit inflow models, a (real-options( model is also available to some small relief of the issues. Real Options, too is set at Y=90. Recognition of Intangible Assets Recognition of Intangible Assets There exists a notion that recognizing IA is a threat to proper disclosure of current period expenditures: capitalization of certain outlays can be seen as a scheme for expense deferral, designed to enhance the perceived value to creditors (shareholders et al). Proper classification, processing and reporting structures designed to deter such improper reporting can be effective. Overall, requiring additional disclosure can only enhance the utility of the financial report to its users. On the other hand, it is easy to prove logically (see Appendix) that IA should be recognized, assuming that it can be properly and consistently measured. The argument for capitalization essentially shows that if one assumes that (1) A company must have a growth factor ((gamma() in its assets in order to survive; (2) Outlays of assets (cash) in period N reduces Equity in period N; (3) If (gamma( is present then recognizing outlays as expenses in period N understates Equity in period N; Therefore, the recognition of expenses is inaccurate, and the capitalization of these outlays is required. In this paper, the X axis will become the range of possible recognition treatments of IA. In general, several points of view are identifiable on this axis. Currently, GAAP does not allow for recognition of IA (except Goodwill from purchase transaction) either because of the control test[? ][xxiii] or because of the measurability test (measurability pertains to the Y axis in this model). An opposing view is presented states in essence that IA are either any excess of market value over book value, or that earned income, before depreciation, amortization, and taxes (or some other similar representation of operating income) can be allocated([? ][xxiv] to the different asset classes: fixed, financial and intangible. Finally, using a completely projectionist method future cash flow as the value of an IA (perhaps in conjunction to subtracting the adjusted-basis and adding the disposal value) might allow non-GAAP recognition of an such an IA. GAAP Recognition: Currently GAAP contains no reco gnition of IA, other than Goodwill as provided by GAAP. As discussed in the measurement section, above, Goodwill is recognized only under certain purchases where certain tests of the excess of FV over AB are present, giving rise to Goodwill. However, Goodwill is often realized and recognized when another class of IA should be created, instead. Goodwill is realized and recognized due to an excess of a purchase consideration over FV (GAAP). This excess, however can be disaggregated or classified more finely than simply calling it Goodwill: Take for example a hypothetical acquisition of a Value Added Network (VAN) provider by an Internet Service Provider (ISP). The former provides the communication tools, the phone lines and the data traffic from customer(s homes to the Internet. The latter, the Internet Service Provider, can benefit from this acquisition by avoiding renting the VAN(s and instead capitalizing on the acquisition(s future cash in flows. Moreover, the ISP can direct its customer base to use VAN as a preferred channel, creating certain loyalties, flexibility (for the customers) and other added value benefits. Assuming – under GAAP – that the ISP paid the VAN(s shareholders more than the FV of their stock, an entry for Goodwill is required. However, this entry is a misnomer: the Goodwill is not really for the excess value but for the additional structure capital (SC) of the acquiring entity. Mostly, the VAN(s organizational structure can benefit from this excess (only in secondary order is the future cash inflows of the acquired VAN to the ISP. ) Because Goodwill is the only GAAP compliant IA combined with its possible vagueness or generality, it receives a position of 0 on the X axis. Recognizing only Marketable IA: This method allows for some latitude in recognizing certain IA, for example, patents, copyrights, and contractual leverage (with employees, suppliers or customers). Using this method excludes most internally generated IA because their effect is not legally binding. Recognizing IA based on their enforcability and to some degree, marketability gets placed at X=50. Recognizing All Events: Some knowledge based essays argue that all events in a business entity is one of IA. As such, all otherwise not measured events can be considered intangible and once measured, recognized on the entity(s books. Because it is the most relaxed method, recognizing all non-financial events in an index or model of fair value[? ][xxv] obtains X=100. Recapitulate: Valuation Recognition Valuation and Recognition of IA has yielded a two dimensional plain on which different methods are available. At the most conservative level, GAAP driven, is the point (X=0,Y=0) which asserts that measuring asset must be according to the past-event principle (historic cost) and that with the exception of Goodwill, no internally or externally generated IA are accounted for. Departing from this basis, on the valuation scale (the Y axis) are proposed method of measuring the value of IA ((future cash flow(, (appraisal( or (real-option( models) make an interesting combination. For example, assume the point (X=0,Y=100) on the X,Y plain is proposed and accepted. This means that a only historic cost (X=0) is realized and yet, that future cash flow (Y=100) is used for measuring the value of these asset. Thus, any hybrid of such a nature (cell D in the Table I) of conventional measurement and unconventional recognition poses the challenge to the third axis in this paper: presentation of IA.    |   |   |   | |   |Recognition: X=0   |X=50 |X=100 | |   |   |   |   | |Valuation |(A) |(B) |(C) | |Y=0 |( IA not recognized[? [2] |( Select IA recognized, based on |( All events recognized, if not | |   |( Historic Cost |market, contractual. |classified elsewhere they are IA | | |   |( Historic Cost |events | | | |( Historic Cost | |   |   |   |   | |Y=85 |(D) |(E) |(F) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Real option valuation model |market, contractual. classified elsewhere they are IA | | | |( Real option valuation model |events | | | | |( Real option valuation model | |   |   |   |   | |Y=90 |(G) |(H) |(I) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Appraisal (cost, market, income |market, contractual. classified elsewhere they are IA | | |approaches) |( Appraisal (cost, market, income |events | | | |approaches) |( Appraisal (cost, market, income | | | | |approaches) | |   |   |   |   | |Y=100 |(J) |(K) |(L) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Proprietary Value Model |market, contractual. |classified elsewhere they are IA | | | |( Proprietary Value Model |events | | | | |( Proprietary Value Model | Table I: Intersection o f measurement and recognition approaches for IA[? ][3] Presentation of Intangible Assets The issue of possible presentation of IA as part of a financial statement must be addressed by the Reporting utilization that such a report contains. Not specifically within the scope of GAAP(s IA (other than Goodwill) are vaguely disclosed in the financial statement. As research shows, some Securities and Exchange Commission regulated corporations disclose Goodwill in aggregated format, while others disclose the underlying detail. Moreover, the other (disclosure( of IA, specifically to the external user, is done by the Management Discussion and Analysis (MDA) that accompanies most financial statements of publicly held entities. However, MDA is a really only another form of appraisal, and not unbiased at that, in relation to IA valuation. In reference to accounting for IA, MDA is inapplicable as interpretation of the value, structure and other forms of unclassified (and unaudited) material statement can become vague in its message to external users. It is important to note that the internal users of a financial statement are slightly better equipped to properly ascertain the message in the financial report; internal accounting practices, cost management and non-financial reporting facilities can aid an internal user to better gauge the weight and context of an IA reference within the financial statement, be it a Goodwill or otherwise disclosed IA. The current GAAP disclosure practice (but not requirement) is at the lower end of the Z axis (Z=0). Under GAAP, a balance sheet of a corporation that might have intangible resources at its disposal might be presented in the following way (example 1): |   | |Balance Sheet, GAAP Driven | |   | |Assets $1000 | |   | |Liabilities (100) | | | |Equity (900) | Example 1: GAAP Driven Balance Sheet Complete inclusion of any intangible resource available to a company is in contrast to the current GAAP treatment. A complete inclusion of non-required disclosure of IA is at the farthest end of the Z axis the concept of full integration of IA in the financial reporting (Z=100) . Of course, this in itself is a valid notion because full disclosure of IA represents expressing mostly relevant information to the user of the financial report. [? ][4] Relevance however, has a trade off with accuracy. The relevance of including any and all IA in a financial statement might hinder on its accuracy; the example below makes this point. Full integration of IA in a financial report can lead to a balance sheet of the following format (example 2):    | |With Considering IA, Complete Inclusion | |   | |Assets $1500 | |(capture events related to both tangible and intangible resources) | |   | |Liabilities (100) | |   | |Equity (1500) | Example 2: Complete Inclusion driven Balance Sheet A possible over-statement of Assets by $500 exists under a complete inclusion method, which is most permissive in relation to GAAP. This type of presentation contains all resource-based events pertaining to the business at hand. It includes both financial and non-financial events pertaining to the entity. Some of this superset(s contents are IA that are externally or internally generated. For example, employee loyalty or positive media coverage are non financial events that affect its financial position. A possible reconciliation between the requirements to present certain financial statement elements (such as fixed assets, financial assets, current and non current liabilities, shareholders( capital et cetera) can be obtained in a tiered financial report. The concept behind a tiered financial report is that the core of any financial report must be GAAP driven. Its benefit to any user must continue in order to provide consistent, accurate and standardized language of communication of a financial position. Within this core, GAAP reporting is one where the balance sheet presents the assets and the claims against them. This fundament is in turn included in a larger set which can include not only cost-related assets but value driven assets, i. e. IA. Conceptually, IA that provide a growth factor (recall: gamma 1) is meaningful to the financial position of the reporting entity. For example, suppose an internally generated IA such as organizational structure or shared knowledge exist (assuming it can be valued and recognized). Under GAAP IA are not attributed to growth of several periods (by definition, growth is the increase of the value of an asset between successive periods). However, for the users of the financial statement, the information about such growth is important in making educated decision about the going concern and prospects of the entity. Thus, the compromise format of financially reportable events includes a degree of IA-related events that can affect a reasonable user(s decision-making process. This type of reporting mechanism is about mid-way between GAAP and Non-GAAP reporting format, at Z=50. An example of a tiered balance sheet follows (example 3): |   |   | |Without Considering IA |With Considering IA, Tiered Format | |   |   | |N/A |Intangible Asset $300 | | |(Note: Recognize IA events based on historical ost) | |   |   | |Assets $1000 |Assets 1000 | |   |   | |Liabilities (100) |Liabilities (100) | |   |   | |Equity (900) |Equity (900) | |   |   | |N/A |Equity Attributed to Intangible Asset | | |(300) | Example 3: (Padded( Balance Sheet In essence, this type of (padding( of a balance sheet is derived from the set concept introduced above. The (core( statement, consisting only of Asset, Liabilities and Equity, remains intact. An extended set of financial events allow further disclosure of the financial effect of IA (in this example, by using the most aggressive GAAP-departure valuation method). Recapitulate: Recognition and DisclosureRecapitulate Recognition and Disclosure Just as Valuation and Recognition can be plotted on a two dimensional plain, so can the axis of Recognition and Disclosure. Overall, the X,Y and Z axis allow us to examine the problem at hand on a three-dimensional basis. The intersection point of the Recognition alternatives in relation to the Disclosure alternatives follows: |   |   |   |   | |   |Recognition |   |   | | |X=0 |X=50 |X=100 | |   |   |   |   | |Disclosure |(M) |(N) |(O) | |Z=0 |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | |   |( No GAAP required Disclosure, |market, contractual. classified elsewhere they are IA events | | |only discretionary MDA |( No GAAP required Disclosure, only |( No GAAP required Disclosure, only | | |   |discretionary MDA. |discretionary MDA | |   |   |   |   | |Z=50 |(P) |(Q) |(R) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Tired ((Padded() Financial |market, contractual. |classified elsewhere they are IA events | | |Report |( Tired ((Padded() Financial Report. ( Tired ((Padded() Financial Report | |   |   |   |   | |Z=100 |(S) |(T) |(U) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Full financial incorporation |market, contractual. |classified elsewhere they are IA events | | |of IA – undefined |( Full financial incorporation of IA. |( Full financial incorporation of IA | Table II:Intersection of measurement and reporting approaches for IA. Cells M-U describe the X,Z plain (the letter are assigned sequentially). To complement tables I and II, the intersection of valuation alternatives and disclosure methods available are included in Table III: |   |   |   | | |   |Disclosure |   |   | | |Z=0 |Z=50 |Z=100 | |   |   |   |   | |Valuation |(V) |(W). (A1) | |Y=0 |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. |( Full financial incorporation of IA | |   |only discretionary MDA |discretionary MDA. |( Historic Cost | | |( Historic Cost |( Historic Cost | | |   |   |   |   | |Y=85 |(A2) |(A3) |(A4) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. ( Full financial incorporation of IA | | |only discretionary MDA |( Real option valuation model |( Real option valuation model | | |( Real option valuation model | | | |   |   |   |   | |Y=90 |(A5) |(A6) |(A7) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. ( Full financial incorporation of IA | | |only discretionary MDA |( Appraisal (cost, market , income |( Appraisal (cost, market, income | | |( Appraisal (cost, market, |approaches) |approaches) | | |income approaches) | | | |   |   |   |   | |Y=100 |(A8) |(A9) |(B1) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. |( Full financial incorporation of IA | | |only discretionary MDA |( Proprietary Value Model |( Proprietary Value Model | | |( Proprietary Value Model | | | Table III:Intersection of measurement and disclosure approaches for IA. DiscussionDiscussion The problem of Intangible Assets revisited Conceptually, the accounting for IA is at the heart of the framework that links the Balance Sheet and the Income Statement: at its core the balance sheet is a statement of resources while the income statement is a an expression of the utilization of these resources (tangible or otherwise available to the entity). Coupled, the traditional balance sheet and income statement includes only tangible resources. However, the traditional Income Statement includes activities that stem from using all available resources. In the asymmetry lies the reason for inclusion of IA resources on the Balance Sheet. For example, outflows for compensation is often the single largest expense of a corporation. Yet, employee knowledge, or other types of Human Capital are rarely disclosed. Further, any activities that are profitable, i. e. where the growth factor ((gamma() is greater than 1, are attributed only the tangible resources. Classes of Intangible Assets IA can be divided to two classes: resources that are within the control of the organization and resources that are only partially within the control of the organization. To maintain a mathematic model, we can introduce OC, Organizational Control, such that: For IA such as Customer Base and Customer Relations Index, Vendors( Credit and Trust, Internal Production or Service Procedures, OC = 1. 0, i. e. there is complete control over the resource, which is an intangible asset; For IA such as Human Skill Level , Employee Satisfaction and public Relation Index ((Public Image(), OC 1. 0. The following is an imaginary – yet possible – comparison of two companies that might have different levels of Organizational Control over their IA, classified according to their business type. Table IV is an illustration of OC levels: |   |   |   | |   |(Tobacco and food conglomerate(|(Northeastern Ice-cream | | | |Manufacturer( | |   |   |   | |Organization Control Level = 1. 0 |   |   | |   |   |   | |Customer Base |1. 0 |1. | |   |   |   | |Vendor(s Credit |1. 0 |1. 0 | |   |   |   | |Internal Production Procedures |1. 0 |1. 0 | |   |   |   | |Organization Control Level 1. |   |   | |   |   |   | |Human Skill |0. 9 |0. 7 | |   |   |   | |Employee Satisfaction |0. 8 |0. 8 | |   |   |   | |Public Image |0. 5 |0. 9 | Table IV:The (determined) values of Organizational Control (OC) over Resources We assume these values derive from internal yet consistent studies and valuation, we can see that for the first three (classified as IA over which the entity has complete control) the OC value remain 1. 0. This simply indicates an existence of an IA (completely within the company(s control). The second group of so called (assets( (or generally: resources) are not completely within the control of their respective entity. We can say, perhaps, that the ice cream factory workers need less training than the tobacco production plant workers but that they are equally satisfied. Further it is clear that the tobacco conglomerate has less leverage in their public image (OC = 0. 5) than the ice-cream maker (OC=0. 9). The important point about all these resources is that the entities are not controlling the value drivers. Therefore, for example, their public images is different and it can not be enlisted as an (asset( because it is outside the scope of their respective control. [? ][5] The three sets of resource group can be summarized as follows: The most inner core of assets that are GAAP driven: Tangible Assets that are at the core of the Income Statement and Balance Sheet pair. These assets produce tangible activities such as cash (inflow) or products (output). The intermediate outer tier consists of resources that are fully under the control of the entity, thus they can be classified as Assets, albeit intangible: they too produce activity such as competitive edge (HC) and customer loyalty (SC). In contrast to HC and SC, the outmost tier class of resources are intangible resources that are not fully under the control of the entity thus fail the control test of the definition of an Asset. In a sense, the inner set of Balance Sheet and Income Statement represent the fundamental analysis that an external or internal user of these statement might be interested in. Under this framework, fundamental ratios and projections are available in the most traditional sense. Extrapolating from that tier, the resources described as (true( Intangible Assets, i. e. hat they are measurable resources that occurred in the past and are within the entity(s full control, describe the effect of growth and going concern. Growth is indicative of innovation or competi tive edge, while going concern is more general and encompasses other factors. In this vein it has been shown that IA are a source of both growth and continuity: IA are key to strategic planning and success[? ][xxvi]. Resources such as reputation, employee know-how, and organizational culture were also linked to success factors of companies[? ][xxvii]. Finally, the outer tier of partially controlled resources can be described ( if so wished by the reporting entity ( as additional disclosure of interest to the user of a financial report. The outer tier is only marginally useful because of the lack of full control the reporting entity might have over factors such as public image. It will be interesting to see if the two outer tiers of resources will play out in future disclosure: the FASB is now encouraging companies to discloses elements of intangible assets in their financial reports. However, from a review of the two tiers it seems that disclosing resources in the intermediate tier can add to the reporting utilization of the entity(s financial report, perhaps if it is presented in a two tier Balance Sheet ((padded(, described earlier). Resources that are not within the complete control of the entity (the outer tier(s elements) will most likely not be disclosed. Assuming a valid and consistent index can be obtained   (by an external review, for example), there can be usefulness to disclosing elements of intangible resources which are (true( IA such as index of customer base, customer loyalty and vendors( credit which reflect on a positive (going concern(. In contrast, disclosure of elements such as employee retention, public image and human skill index, can provide external users a marginal utility regarding the activity and prospects of the entity. Conclusion Measurement of IA is the area where the disparity is widest (on the Y axis in this discussion(s three dimensions model). The alternatives to historic cost are valuations based on proprietary models or based on certified models. Both alternatives are insufficient because they require judgement which lead to substantial variation. Historic cost is most consistent but inapplicable because it can not measure certain IA such as customer base or affiliations and alliances. Therefore, an allocation approach is suitable: computing the ratio of growth in equity to fixed, financial and intangible asset allows measurement of IA at least as a class of resources on the balance sheet statement[? ][xxviii]. Further discussion and research is required in order to properly weigh the specific intangible assets within this class, and thus compute the financial value attributed to it. Generally, the emergence of IA and in general, intangible resources, is unavoidable. The accounting profession should treat this type of financial event within its GAAP guidelines and not attempt to preclude it from recognition. Plainly, accounting for IA by including it in the financial statement (specifically, as part of the Balance Sheet) is not helpful to the external user. Such recognition will simply inflate the value of corporations and will cause comparisons to be more difficult and the financial statement viewed more skeptically. However, by methodically presenting IA in a tiered manner, users of the financial statement can view the traditional fundamental (current) GAAP elements as well as supplementary elements. In a sense, allowing companies to literally (pad( their balance sheet with separate IA and IC (Equity due to IA) will put to a (vote( of the external and internal users the concept of systematic disclosure. To wit, instead of a honorable mention in the MDA section or a buried treasure in the footnotes to the financial statement, disclosing IA on the face of the balance sheet, without reducing its existing utility, might be a solution to the emerging need to report IA as a financial event. References [pic] [pic] [1][1]IA are often labeled knowledge assets. Much has been written about a knowledge economy and some attempted to define all resources as knowledge-based. The device in which this is possible is usually illustrated by an example of an organization that can be described all in terms of knowledge. Such zeal is convincing only to the extent that a counter example is not produced. Knowledge is information produced by data and ideas. Transforming knowledge to a benefit producing resource ((value() converts knowledge to an IA. Thus, in terms of scope of valuation of IA, not all business process are considered IA: only business processes that have not been measured or presented elsewhere can be considered measurable for purposes of this discussion. [2][2]In all the instances of Y=0, IA is not recognized except for Goodwill in purchase. [3][3]The recent FASB sponsored attempt to account for certain types of IA by rules of annual impairment valuation (read: appraisal valuation method) is position in box (B( of Table I: using historic cost and a (certified) appraisal of fair value of an IA to trigger both valuation and recognition. 4][4]However, (strange bedfellows( effect might occur if we simply plot the Z axis against, say the Y axis (measurement): the point (Y=0, Z=100) yields an IA that (is not recognized (Y=0)( and (integrated in the financial report( (Z=100). Therefore, at least from a practical point of view, these type of pairing with GAAP (Y=0 and Z=100) can not be used for our analysis: this point in our exploration model is undefined. [5][5]It is the public, the society in which they operate for example, that determines which company is the (Kind American Corporation( and which is the (Evil American Corporation. ( [i][i]. ABI-Inform is available via the Internet from ProQuest Information and Learning Company. [ii][ii]. Accuracy of the yield and direct capitalization methods: A twenty-year empirical study of the electric utility industry(; Assessment Journal Chicago; Richard R Simonds; Vol. 6; No. 4; pp. 49-55 [iii][iii]. Internet: available: www. dictiornary. com. Source of this citation: 1997 Princeton University. [iv][iv]. Internet: available: www. dictionary. com. Citation source: The American Heritage Dictionary of the English Language, 4th Edition. [v][v]. FASB presentation, Nakamura in 4th Annual Intangible Assets Conference, Ross Institute, New York University, May 2001. [vi][ vi]. Financial Accounting Standards Board; Special Report : Business and Financial Reporting, Challenges from the New Economy; Wayne S. Upton, Jr; No. 219-A; April 2001 p. x (Executive Summery). [vii][vii]. Lynn, Bernadette, CMA; Intellectual Capital Key to Value added Success in the Next Millennium; Society of Management Accountants of Canada, CMA Magazine. Available: Internet http://www. cma-canada. org. [viii][viii]. Lynn, Brenadette. [ix][ix]. Data is the superset of information which in turn is the super set of knowledge. Purposeful and formal conversion of data to information and information to knowledge, creates Intangible Capital, which can be leveraged. [x][x]. Berry, John; MIT, Wharton Search for IT Asset Metric; Internetweek; Manhasset; Feb 5, 2001. [xi][xi]. (†¦ Brand assets and patents are knowledge assets, not just technology(. Companies May Be Unwittingly Ignoring The Bulk of Their Asset Value; Investor Relation Business; New York; Dec. 3, 1999; p. 4. [xii][xii]. Hal Varian; How Much Information is Produced Worldwide? University of Berkeley; Presented in the 4th Intangibles Conference at New York University, Stern School of Business, Ross Institute of Accounting Rese arch; May 2001. [xiii][xiii]. Christopher Tucci; The Value of Collaborations and Alliances; New York University; Presented in the 4th Intangibles Conference at New York University, Stern School of Business, Ross Institute of Accounting Research; May 2001. [xiv][xiv]. FASB; Special Report; Chapter 2. [xv][xv]. John Rutledge, You(re a Fool if You Buy into This One; Available: ABIinfrom. [xvi][xvi]. Alfred M. King, Jay M. Henry; Valuing intangible assets through appraisals; Strategic Finance; Vol. 81, No. 5, Montvale; Nov. 1999. pp. 32-37. [xvii][xvii]. Alfred M. King, Jay M. Henry, Strategic Finance, Nov. 1999. [xviii][xviii]. Lawrence C. Rose; Accuracy of Appraisers and Appraisal Methods of Closely Held Companies; Entrepreneurship Theory and Practice (ETP) Vol. 17, No. 3; Spring 1993; pp. 21. [xix][xix]. FASB; Special Report; p. 39 [xx][xx]. Alfred M. King, Jay M. Henry, Strategic Finance, Nov. 1999. [xxi][xxi]. Wiley A. Scott, Jr. ; Borrowers( Intangibles May be Off-Balance-Sheet Gold; Commercial Lending Review Vol. 9, No. 3; Boston; Summer 1994, pp. 26. [xxii][xxii]. Lawrence C. Rose; Accuracy of Appraisers and Appraisal Methods of Closely Held Companies; Entrepreneurship Theory and Practice (ETP) Vol. 17, No. 3; Spring 1993; pp. 21. [xxiii][xxiii]. FASB; Special Report; Chapter 4. [xxiv][xxiv]. Lev, Baruch. [xxv][xxv]. IAS 36 defines (value in use( as (future cash flows expected to arise from the continuing use of an asset. [xxvi][xxvi]. Joseph A. Patrick et al; Global Leadership Skill and How to cite Accounting Treatment of Intangible Assets, Papers

British Cuisine free essay sample

Some people criticize English nutrient. They say it s impossible, deadening, tasteless, it s french friess with everything and wholly overcooked veggies. The basic ingredients, when fresh, are so full of spirit that British have nt had to contrive sauces to mask their natural gustatory sensation. What can compare with fresh urines or new murphies merely boiled and served with butter? Why drown spring lamb in vino or pick and spices, when with merely one or two herbs it is perfectly delightful? If you ask aliens to call some typically English dishes, they will likely state Fish and french friess so halt. It is dissatisfactory, but true that, there is no tradition in England of eating in eating houses, because the nutrient does nt impart itself to such readying. English cookery is found at place. So it is hard to a good English eating house with a sensible monetary values. In most metropoliss in Britain you ll happen Indian, Chinese, Gallic and Italian eating houses. In London you ll besides happen Indonesian, Mexican, Greek Cynics will state that this is because English have no culinary art themselves, but this is non rather the true. # 1040 ; # 1085 ; # 1075 ; # 1083 ; # 1080 ; # 1081 ; # 1089 ; # 1082 ; # 1072 ; # 1103 ; # 1082 ; # 1091 ; # 1093 ; # 1085 ; # 1103 ; # 1053 ; # 1077 ; # 1082 ; # 1086 ; # 1090 ; # 1086 ; # 1088 ; # 1099 ; # 1077 ; # 1082 ; # 1088 ; # 1080 ; # 1090 ; # 1080 ; # 1082 ; # 1091 ; # 1102 ; # 1090 ; # 1072 ; # 1085 ; # 1075 ; # 1083 ; # 1080 ; # 1081 ; # 1089 ; # 1082 ; # 1091 ; # 1102 ; # 1077 ; # 1076 ; # 1091 ; . # 1054 ; # 1085 ; # 1080 ; # 1075 ; # 1086 ; # 1074 ; # 1086 ; # 1088 ; # 1103 ; # 1090 ; , # 1095 ; # 1090 ; # 1086 ; # 1086 ; # 1085 ; # 1072 ; # 1085 ; # 1077 ; # 1074 ; # 1086 ; # 1079 ; # 1084 ; # 1086 ; # 1078 ; # 1085 ; # 1072 ; , # 1073 ; # 1077 ; # 1079 ; # 1074 ; # 1082 ; # 1091 ; # 1089 ; # 1085 ; # 1072 ; , # 1095 ; # 1090 ; # 1086 ; # 1101 ; # 1090 ; # 1086 ; # 1095 ; # 1080 ; # 1087 ; # 1089 ; # 1099 ; 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# 1086 ; # 1089 ; # 1090 ; # 1088 ; # 1072 ; # 1085 ; # 1094 ; # 1072 ; # 1085 ; # 1072 ; # 1079 ; # 1074 ; # 1072 ; # 1090 ; # 1100 ; # 1090 ; # 1080 ; # 1087 ; # 1080 ; # 1095 ; # 1085 ; # 1086 ; # 1072 ; # 1085 ; # 1075 ; # 1083 ; # 1080 ; # 1081 ; # 1089 ; # 1082 ; # 1080 ; # 1077 ; # 1073 ; # 1083 ; # 1102 ; # 1076 ; # 1072 ; , # 1086 ; # 1085 ; , # 1089 ; # 1082 ; # 1086 ; # 1088 ; # 1077 ; # 1077 ; # 1074 ; # 1089 ; # 1077 ; # 1075 ; # 1086 ; , # 1089 ; # 1082 ; # 1072 ; # 1078 ; # 1077 ; # 1090 ; # 1056 ; # 1099 ; # 1073 ; # 1072 ; # 1089 ; # 1095 ; # 1080 ; # 1087 ; # 1089 ; # 1072 ; # 1084 ; # 1080 ; # 1080 ; . # 1087 ; # 1086 ; # 1090 ; # 1086 ; # 1084 ; # 1086 ; # 1089 ; # 1090 ; # 1072 ; # 1085 ; # 1086 ; # 1074 ; # 1080 ; # 1090 ; # 1089 ; # 1103 ; . # 1050 ; # 1072 ; # 1082 ; # 1085 ; # 1080 ; # 1086 ; # 1073 ; # 1080 ; # 1076 ; # 1085 ; # 1086 ; , # 1085 ; # 1086 ; # 1101 ; # 1090 ; # 1086 ; # 1087 ; # 1088 ; # 1072 ; # 1074 ; # 1076 ; # 1072 ; , # 1095 ; # 1090 ; # 1086 ; 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Questions: 1. What do aliens state when they criticize English nutrient? 2. Make English people use a batch of sauces? 3. From a alien s point of position, what typically English dishes? 4. Make all English eat in eating houses? 5. What sort of eating houses can you happen in Britain? 6. Is it the true that English have no culinary art? Vocabulary: to knock # 1082 ; # 1088 ; # 1080 ; # 1090 ; # 1080 ; # 1082 ; # 1086 ; # 1074 ; # 1072 ; # 1090 ; # 1100 ; tasteless # 1073 ; # 1077 ; # 1079 ; # 1074 ; # 1082 ; # 1091 ; # 1089 ; # 1085 ; # 1099 ; # 1081 ; overcooked # 1087 ; # 1077 ; # 1088 ; # 1077 ; # 1074 ; # 1072 ; # 1088 ; # 1077 ; # 1085 ; # 1085 ; # 1099 ; # 1081 ; ingredient # 1080 ; # 1085 ; # 1075 ; # 1088 ; # 1077 ; # 1076 ; # 1080 ; # 1077 ; # 1085 ; # 1090 ; , # 1089 ; # 1086 ; # 1089 ; # 1090 ; # 1072 ; # 1074 ; # 1085 ; # 1072 ; # 1103 ; # 1095 ; # 1072 ; # 1089 ; # 1090 ; # 1100 ; toinvent # 1080 ; # 1079 ; # 1086 ; # 1073 ; # 1088 ; # 1077 ; # 1090 ; # 1072 ; # 1090 ; # 1100 ; sauces # 1089 ; # 1086 ; # 1091 ; # 1089 ; todisguise # 1089 ; # 1082 ; # 1088 ; # 1099 ; # 1090 ; # 1100 ; spice # 1089 ; # 1087 ; # 1077 ; # 1094 ; # 1080 ; # 1103 ; , # 1087 ; # 1088 ; # 1103 ; # 1085 ; # 1086 ; # 1089 ; # 1090 ; # 1100 ; herb # 1090 ; # 1088 ; # 1072 ; # 1074 ; # 1072 ; delightful # 1086 ; # 1095 ; # 1077 ; # 1085 ; # 1100 ; # 1074 ; # 1082 ; # 1091 ; # 1089 ; # 1085 ; # 1099 ; # 1081 ; let downing # 1086 ; # 1073 ; # 1080 ; # 1076 ; # 1085 ; # 1086 ; tolend # 1086 ; # 1076 ; # 1072 ; # 1083 ; # 1078 ; # 1080 ; # 1074 ; # 1072 ; # 1090 ; # 1100 ; culinary art # 1082 ; # 1091 ; # 1093 ; # 1085 ; # 1103 ;