Campaign Speech Essay

To our beloved beautiful, sexy and ever dynamic campus administrator Dr. Ma. Evengeline P. Perez, to the different chairs of different departments, to the faculty and staff of this institution, to my co-aspirants and to the best students of the whole world, a pleasant afternoon to each in everyone. We are convened here this afternoon for another remarkable and momentous activity in our lives as students, for this afternoon’s activity is considered as one of our greatest decision-making in our lives as students. A wise decision in choosing a leader who will serve as your voice and will hear and answer your queries towards your rights as one of the important stakeholders of this institution. My fellow Cenphilians, the man standing in front of you right now is an aspirant to become a leader, who had bore in mind that being a leader is not an opportunity to rule over the others nor to enslave other people. For me, becoming a leader is a great challenge and responsibility to continue the good administration done by the previous people in authority on the Supreme Student Government or otherwise known as the SSG. I being an aspirant leader of the said organization, would like to continue hearing your voices as what the previous administration did, in order that you can express and exercise your freedom of speech. And I as an aspirant, will serve as your stairway that your voices will be recognized as a student until everything will be okay. And as been said by a not so intelligent creature in the cartoon Spongebob Square Pants, â€Å"Everything will be okay at the end; if it is not okay, yet it is not the end† that is according to Patrick the Starfish. Yes this is really true my fellow cenphilians, and actually one of the reasons why I ran on this organization is that I want to encourage and influence everyone to pursue your dreams. If you haven’t ask me, I am one of the indigent students of this institution but still I am strong enough to overcome the challenges in life being a student. The courage I have in myself, forces me to ran as a leader, thinking that if God’s well, I can influence others in a positive way. And if ever I may not be lucky enough today, still I can assure you, you can still come on me for some motivations and advices, and I will never hesitate myse lf to help and comfort you in terms of your problems. Cause I ran thinking that I am not just be a leader but also will set myself as your â€Å"Manong† who is willing to guide and help you in terms of any unavoidable  difficulties in school or even outside the school premises (financially not involve). I can also be your friend for I am willing to render an extra ordinary services for the goodness of everybody that will enhance our personality for the betterment of the entire community. Lastly, I ran as a president on the SSG execom with a purpose of having a positive changes in our institution throughout my leadership to maintain our name on top, CPSU CAUAYAN UNIVERSITY CAMPUS, and I want that changes to be solicited from you. For I believe, as what a wise man says that, a good leader is always a good follower and yes Indeed. And if ever I became a leader, I want a fair treatment to every students, and being a president in God’s well is not my only chance but everybody’s chance to express your thoughts and ideas for the betterment of the campus, because hopefully, I Arjay T. Bando a 3rd year BEED student, is an open-minded, trustworthy and approachable person is ready to serve you my fellow Cenphilians with all my heart and up to the best that I can. Of course, all of these things would not be materialized without your support my fellow Cenphilians. Let us work in hand and hand, all together for the success of our plans. So I am asking for your full support to please vote me, don’t forget my name Arjay Bando aspiring to be the next President of the Supreme student Government for the school year 2015-2016,and together with my senators â€Å"maga isa kita padulong sa kauswagan sng aton Institution†. Read more:  Campaign Speech Examples

Employer branding

Footings of mentionsThis study highlights the lifting consciousness for the development of Employer Branding construct and its benefits for the administrations in present competitory labor market. The struggle between effectual employer stigmatization and employees ‘ rights and satisfaction toward organisation has been examined in this study with specific focal point on the unethical and commanding consequence.Introduction:Employer stigmatization is the perceptual experience of employees ‘ about an organisation as a topographic point to work. It ‘s designed for motivation and procuring employee ‘s alliance with the vision and values of the organisations. From the HR perspective the construct was subsumed the older term INTERNAL BRANDING that was basically the procedure of pass oning an organisation ‘s trade name value to its employee.Employer stigmatizationThe construct of EMPLOYER BRANDING was created in the 1990s by Simon Barrow, who founded People in Business ( now portion of TMP Worldwide ) and was the co-author of The Employer Brand. 1 In the yesteryear, Barrow had been a consumer goods trade name director and headed up an advertisement bureau in London, but subsequently became the main executive of a enlisting bureau. He was instantly struck by the similarities between the challenges faced in advancing consumer goods and in advertising the strengths of an administration ‘s employee proposition. Both, he recognised, required a strong trade name, and so the construct of employer stigmatization was conceived. He defined employer branding as a set of properties which make the employees feel more close to the company and take pride of being associated with the company they work for. Employer stigmatization is in kernel the mental apparatus of an employee where he or she receives mental satisfaction in the same mode as when he or she uses a merchandise of a preferable trade name. Employer stigmatization is hence a set of attitudes, every bit good as an array of activities and characteristics enabling the procedure of branding to be more effectual. They could be psychological ( behavior of higher-ups ) , economic ( compensation bundle, benefits ) or functional ( possible to turn, occupation assigned harmonizing to capableness ) . These definitions indicate that employer branding agencies advancing and constructing an individuality and a clear position of what makes an organisation different and desirable as an employer. It has similarities with merchandise and corporate stigmatization but the cardinal difference is its ‘ more employment particular.Recruitment and employer stigmatizationDeveloping an employer trade name is a combination of following vision, values, and behaviors, and presenting a service that shows committedness to outdo pattern and service excellence. It begins with the enlisting procedure that offers figure of tools that can be used to make perceptual experiences of an using organisation, these tools are:Job advertizement and descriptionInterview procedureOffer lettersInformation battalion for new recruitersEmployee enchiridionsInitiation and preparation.The enlisting procedure is an of import manner to construct a positive relationship between the organisation and employee. Throughout the process, the organisation can make a strong and positive position about them ; even it can be extended to unsuccessful campaigners as good.When employees have accepted the earnestness and truth of the employer trade name, they will transport it frontward, actively advancing the trade name to co-workers and clients. However, employer stigmatization which is fundamentally untruthful will non work and is likely to be counter-productive.Benefits of Employer BrandingLong-run impact: Successful employer trade name can hold a positive impact on enrolling for a considerable sum of clip while sing any Major PR issues.Increased volume of self-generated campaigners: The figure of appliers tends to increase each twelvemonth as the employer branding gets stronger. Cases of a 500 % addition of applications have besides been observed.Addition in quality of the appliers: The quality of campaigners will besides better dramatically ; persons who ne'er would hold considered in the yesteryear will get down applying.Higher offer-acceptance rates: The rate of credence addition proportionally with the addition of image and good will of the company.Higher Employee Motivation: Employees can be easy motivated, or will remain motivated longer in the company because of the sensed pride in working for the company, and better direction patterns ( by and large ) that is tied-in with the company ‘s trade name image, therefore doing it a company people work for because they chose.A stronger corporate civilization: Employment stigmatization can assist beef up house ‘s corporate civilization because of the inactiveness it additions from the really kernel of employer stigmatization ; doing a company desirable to work for.Diminished negative promotion and image: Effective stigmatization can nail jobs by covering with negative remarks and fixing effectual counter measurers.Increased director satisfaction: As a direct consequence of increased involvement from more able and adept ap pliers, the directors will hold more clip for managerial maps as the demand to give more clip to recruitment procedure will diminish with the quality of the applicant group.Healthy competition: Employer stigmatization is similar to merchandise stigmatization. Hence to maintain a company desirable, it has to update its UPS and maintain up with its promise of bringing. This increases healthy competition and besides makes the companies better by the minute.Increased stockholder value: The ripple consequence of the company ‘s good will via employer stigmatization can besides positively impact a house ‘s stock monetary value.Support for the merchandise trade name: If a company has a superb trade name image, it is more likely that its merchandise will harvest the benefits of it and be branded automatically. This helps particularly when the company launches a new merchandise.The trade name kernel should sum up what the trade name stands for, going the karyon for merchandise dev elopment, all communications and even HR enterprises for employees. Its definition should besides be consistent with the corporate vision/mission and values. For illustration, Volvo is a good illustration of a trade name description is Volvo – â€Å"Style, driving pleasance and superior ownership experience while observing human values and esteeming the environment.† Volvo ‘s values and associations reflecting this trade name individuality are what are considered to be typically Norse – e.g. â€Å"nature, security and wellness, human values, elegant simpleness, originative technologyand the spirit of stylish/innovative functionality† . For Volvo, this description non merely mirrors the psycho-graphic profile of the ideal client for their autos, but besides summarizes what Volvo as a company means to all its workers — its employer trade name. These are intrinsic values that Volvo workers can associate to, what they believe in and why they feel comfy doing a committedness to their occupations. One can easy visualise the types of HR plans that would animate a sense of pride and re-enforce these intangibles – e.g. nature, wellness, security and other meaningful human values.‘Living the trade name ‘Life THE BRAND is placing with an organisations trade name value to such an extent that employees ‘ behaviors fit precisely to the image that the concern is seeking to portray to its clients ( Alan Price 2007 ) . The alliance between employees ‘ behavior and value of organisation ‘s trade name image is really of import. It is suggested that administrations need to guarantee that the re is no spread between what the administration is stating in the outside universe and what people believe inside the concern. The employees should be perceived as Brand embassador and trade name selling would merely be successful if they LIVE THE BRAND. From this position:Organizations have encouraged employees to â€Å"buy in† to the concern vision and values.They have to guarantee that everyone in the organisation clearly understand the intent of the common set of values.Harmonizing to Ind ( 2004 ) , the subjects discussed are likely to be of involvement to HR and selling practicians every bit good as those involved in internal communications within administrations. Employees themselves are expected to internalize characteristics and facets of the administration ‘s trade name to guarantee that they become trade name title-holders, therefore assisting to stand for to administration ‘s trade name to the outside clients. Such an attack instantly raises some interesting jobs associating to equality and diverseness as it expects each employee to portion a peculiar set of values and act in conformity with these values. The employee branding attack being recommended by Ind raises a figure of challenges for those interested in an equality and diverseness docket. An administration that aims to guarantee that employees are populating the trade name will specifically take to pull and enroll employees who already portion the values of the corporate trade name. Furthermore, those already employed within the administration will be encouraged to internalize the values of the administration. Clearly, there are jobs for promoting diverseness here, with one of the rules of diverseness direction being an credence and acknowledgment that people are different and single differences ( particularly of values ) should be welcomed. Inherently, a populating the trade name focal point is likely to travel against such a rule. Ind makes the point that promoting employee designation and committedness to the administration ‘s trade name values might deny an look of individualism. However, Ind suggests that internal s tigmatization combined with leting employees to be empowered will enable freedom with order.Denial of individualism ( dress codification policy )When it comes to â€Å" professional image † , many employers are gaining that Standards of frock and personal presentation are indispensable therefore holding a policy on frock codification can be of import. Where the employees meet clients, they act as the store window for the company and the benefits of presentable visual aspect are obvious. However, even where the employee ‘s work is internal, there are less touchable benefits such as:Making a squad atmosphere,Engendering criterions of professionalism, andMaking a corporate image.As employers are gaining this, they are paying more attending to the visual aspect of their employees and the image and perceptual experience of the concern – frock, training and personal hygiene are all portion and package of this. However, the issue of work topographic point frock codifications can be extremely controversial. It is critical that employers are cognizant of the favoritism issues that dress codifications can make.Issues with work topographic point frock codificationsIn administrations with uniforms, the issues can be more broad ranging. For case, at the Greater Manchester Police Force, bureaucratism and involuntariness to accept alteration has hampered the debut of hijabs for Muslim adult females. At Inchcape Fleet Solutions – where all 140 non-senior staffs are provided with polo shirts or blouses branded with the company logo – the manner of the uniform does non accommodate all staff and most â€Å" do non like have oning it † . This would impact their tempers at work and accordingly affect their public presentation.Ailments of favoritismFurthermore, a ailment was raised informally by the staff forum of kid trust fund supplier Family Investments and relates to the fact that adult females can have on pants that are non full length, while work forces can non. Employees have requested that the company allows trunkss to be worn, every bit long as they are below the articulatio genus Besides, in September 2006, a British Airways worker has been suspended and attended an entreaty over have oning a cross at work at Heathrow Airport. She claims the suspension is prejudiced, particularly since the air hose allows Sikh employees to have on traditional Fe bracelets and Muslim workers to have on headscarves.BA has said it will reexamine its unvarying policy in visible radiation of the media storm the narrative has provoked.Employer stigmatization and favoritism jurisprudence There are three countries of favoritism relevant to dress codification policy:Sex Discrimination Act 1975Religious or Belief Regulations 2003Disability Discrimination Act 1995.Sexual activity favoritism and frock codificationsThere is the obvious potency for sex favoritism in any frock codification, which sets different demands for work forces and adult females. Past claims have challenged policies that:adult females must have on skirtswork forces should non hold long hairWork force must have on a neckband and tie.The instance of Matthew Thompson who objected to the frock codification imposed by the Department for Work & A ; Pensions at his topographic point of work, a occupation Centre in Stockport, can besides be a good illustration. Mr Thompson claimed that the frock codification discriminated against male employees as they were forced to have on a neckband and tie whereas female employees could have on Jerseies to work. The Employment Tribunal found in favor of Mr Thompson saying that the frock codification was prejudiced as the demand to have on a neckband and tie was gender based and there were no points of vesture that were imposed on adult females in the same office. From the Thompson instance, it became clear that employers should be careful in the manner that they draft their frock codifications. Employers are non prevented from enforcing frock codifications that require employees to have on specified points of vesture every bit long as the codification is drafted in such a manner as to be even-handed between work forces and adult females. For illustration, occupations in the City, the current convention is for both work forces and adult females to have on suits. The convention is that a adult male should have on a tie with a suit but the same does non use to a adult female. A frock codification necessitating a â€Å" smart suit † could use to both sexes but be enforced in a non-discriminatory mode appropriate for each sex.Religion/belief favoritism and frock codificationsA frock codification that requires employees to move in a manner contrary to their spiritual beliefs, hazards being indirectly prejudiced. Therefore, a frock codification prohibiting headdress will be prejudiced to male Sikhs, who must have on a turban. The best manner to avoid these jobs is to be every bit non-specific as possible. A widely worded frock codification necessitating smart visual aspect, with non-binding illustrations of suited frock, can non fall foul of specific clothing-related beliefs. To cross-check your frock codification against the chief faiths ‘ vesture beliefs, refer to Acas ‘ Guide on Religion and Belief which has a utile chart at Appendix 2 ( pages 40-50 ) . It may be possible for employers to objectively warrant a frock codification contrary to any of these beliefs, if it can be done so objectively. For illustration, employees at a cocoa mill were successfully prohibited from holding face funguss for wellness and safety grounds. However, employers should be really wary of trusting on nonsubjective justification as the tribunals are loath to accept it. There may be a inquiry grade in some instances whether a individual ‘s positions are beliefs. Harmonizing to Acas, Rastafarianism ( which requires the erosion of a chapeau ) is a belief system. Certain political beliefs or powerful sentiments such as nationalism ( the erosion of an American flag badge ) may or may non be regarded as beliefs. Employers should esteem beliefs that are strongly held whether or non they are spiritual in nature.Disability favoritism and frock codificationsDisabled employees may non be able to follow with a frock codification, for illustration, an employee with a neck hurt unable to have on a tie. However, by and big, this demand non impact the manner the codification is drafted ; alternatively, employers should be sensitive in the enforcement of the frock codification. In drumhead, employers should be rather a spot flexible when composing a policy on employee frock or visual aspect. Reasonable flexibleness and sensitiveness to the employees ‘ racial differences should be allowed in the frock codification to do employees comfy and any struggle and jurisprudence suits, while run intoing the Trust criterion of Dress codification. This position is echoed by administrations such as Broker Network, which believes that employees should be able to do their ain judgements on what is best to have on. Many companies are now turning their dorsums on the construct of ‘dress-down Fridays ‘ , choosing alternatively to ditch smart business-wear every twenty-four hours of the hebdomad. A study of 560 administrations has found that four out of five employers believe a more relaxed frock codification leads to greater productiveness. Nine out of 10 administrations that replied to the canvass by the Peninsula employment jurisprudence consultancy had declared ties an unneeded portion of their frock codification.DecisionThe issues discussed above create a challenge for HR professionals involved in employee focused branding undertakings, particularly those where employees are expected to portion a specific set of values. That is that such enterprises will doubtless make a tenseness and potentially conflict with rules underlying an equality and diverseness docket. Ind ‘s suggestion that inside-out stigmatization allows freedom and order remains unconvincing even when the emplo yees are involved in building the trade name values. An administration that dictates a set of values for employees to internalize is still a homogenising force. Administration ‘s that truly take diverseness programmes earnestly will hold to undertake this tenseness. One possible manner out of this riddle is to include equality and diverseness consciousness as a cardinal value included in the internal trade name proposition.RecommendationsAny guidelines should be carefully drafted, and employers are advised to handle any petitions to dress contrary to the company codification for spiritual or racial grounds with regard. Employers should confer with the employee in inquiry and discourse how to suit sensible petitions, and seek to happen a favorable solution. A court will be more likely to be sympathetic to the employer where a policy is required for wellness and safety intents, instead than merely to keep a corporate image. Decide what limitations on employees ‘ visual aspect are necessary and why. For illustration, instructors are expected to have on reasonable footwear, suited for the activities their occupation involves. Restrictions should non be inordinate or unreasonable, for case take a firm standing on suits or ties in the office when employees are non customer-facing. Set out the guidelines clearly, and include the principle behind any limitations. Explain why limitations may be placed on some employees but non others ( for illustration, no organic structure piercing for those runing heavy machinery for wellness and safety intents, and those working within a cafe of a supermarket may hold stricter codifications enforced on them than those who work in the same shop, but do n't come into direct contact with nutrient ) . Give employees notice of when the policy will come into force. Allow employees a grace period before training for non-compliance. Explain what will go on if employees are found to be in relentless breach of the policy ( disciplinary action and, potentially, dismissal ) . Give the name of an person that employees can speak to if they feel they can non follow with the policy. Current statute law on issues that could take to favoritism should be reviewed from clip to clip, and staff enchiridion should be read by employment attorneies to guarantee conformity. Guidelines should besides be updated to suit the statute law. Base the policy on business-related grounds. Explain your grounds in the policy so employees understand the principle behind the limitations. Common business-related grounds include keeping the organisation ‘s public image, advancing a productive work environment, or following with wellness and safety criterions. Require employees to hold an appropriate, well-dressed visual aspect. Even insouciant frock policies should stipulate what vesture is inappropriate ( such as perspiration suits, trunkss, and denims ) and any particular demands for employees who deal with the populace. Communicate the policy. Use employee enchiridions or memos to alarm employees to the new policy, any alterations, and the punishments for disobedience. In add-on, explicate the policy to occupation campaigners.Use the frock codification policy uniformly to all employees. This can forestall claims that the policy adversely affects adult females or minorities. However, you may hold to do exclusions if required by jurisprudence. ( See following suggestion. ) Make sensible adjustment when the state of affairs requires an exclusion. Be prepared to suit petitions for spiritual patterns and disablements, such as caput coverings and facial hair.Apply consistent subject for frock codification misdemeanors. When training lawbreakers, point out why their garb does non follow with the codification and what they can make to followMentions:Edwards, M. R. ( 2008 ) Employees as a Focus of Branding Activities: A Review of Recent Contributions to the Literature and the Implications for Workplace Diversity, Equal opportunities international. Vol 27 ( 5 ) pp. 447-481 [ online ] Available from: www.emerald.com [ Accessed 1 April 2009 ] Carrington, L ( 2007 ) EMPLOYER BRANDING [ Online ] Available from: hypertext transfer protocol: //globaltalentmetrics.com/articles/EB_2007_Brandempl.pdf [ Accessed 26 March 2009 ] Wolff, C. ( 2007 ) Employers USE DRESS CODES TO ENHANCE CORPORATE IMAGE, IRS. Issue 878. Available from: hypertext transfer protocol: //www.xperthr.co.uk [ Accessed 26 March 2009 ] Downes, J. ( 2007 ) POLICY CLINIC: DRESS CODES, [ online ] Available from:hypertext transfer protocol: //0-www.xperthr.co.uk.lispac.lsbu.ac.uk/article/81919/policy-clinic — dress-codes.aspx? searchwords=Policy+clinic % 3a+Dress+codes [ Accessed 26 March 2009 ] Millar, M ( 2006 ) EMPLOYERS RELAXING WORK DRESS CODE CAN HELP IMPROVE PRODUCTIVITY, [ online ] Available from: hypertext transfer protocol: //www.personneltoday.com/articles/2006/07/26/36558/employers-relaxing-work-dress-code-can-help-improve.html [ Accessed 26 March 2009 ] Dr. Sullivan, J ( 2008 ) EMPLOYMENT Stigmatization: THE ONLY LONG-TERM RECRUITING STRATEGY, [ online ] Available from: hypertext transfer protocol: //www.drjohnsullivan.com/content/view/183/27/ [ Accessed 26 March 2009 ]Stephen Morrall, S & A ; Urquhart, C ( 2003 ) SEX DISCRIMINATION – ARE DRESS CODES DISCRIMINATORY? [ online ] Available from: hypertext transfer protocol: //www.drjohnsullivan.com/content/view/183/27/ [ Accessed 26 March 2009 ]Gronlund, J K ( 2008 ) HOW EMPLOYER BRANDINGCAN FOSTER TRUSTS AND LOYALTY? [ Online ] Available from: hypertext transfer protocol: //www.employerbrand.com/Points_pathf.html [ Accessed 26 March 2009 ]

How to Select a College Admissions Counselor

In light of the recent admissions scandal, there’s a pervasive belief that using a college admissions counselor is the purview of the rich and famous. However, the truth is that it’s not just actors and actresses who are soliciting the services of counselors. On the contrary, a large percentage of parents from all social strata are hiring private college consultants to assist their children on the college journey. It’s hard to say exactly how many students use the services of college counselors each year. According to a survey conducted by marketing firm Lipman Hearne, 26 percent of students who scored in the 70th percentile or higher on the SAT admitted to using a private college counselor. However, it’s possible that this number is significantly higher, and some students simply don’t feel comfortable admitting seeking help. While dishonest companies like Edge College & Career Network, the business at the center of the admissions scandal, are the exception rather than the rule, it pays to do your homework when selecting a college admissions counselor. Read on to discover what types of admissions counselors are out there, along with questions to ask potential consultants. It’s not just the wealthy who can benefit from college education counselors. On the contrary, these experts help a wide array of high school students gain admission to their dream colleges. In particular, the services are beneficial to those with specific or niche passions, such as athletics or musical theater. Additionally, college counselors can help students identify lesser-known schools that have strong programs in their chosen majors. College counselors also provide valuable services to families of students with learning disabilities and other educational challenges. Along with ensuring students have the appropriate amount of time for SAT and ACT testing, consultants can work with you to identify schools that offer the best and most supportive programs for your teen’s needs and goals. Parents seeking college admissions support for their teens can generally choose between two different options: IECs and consulting firms. Also known as independent educational consultants, IECs help students throughout the application process. Along with supporting students in identifying the best reach, target, and safety schools, they offer information on financial aid and scholarships and provide feedback on admissions essays. In most cases, parents drop their teens off at a local IEC’s office to discuss college admissions questions one on one. This in-person support can help both students and parents feel more confident in the process. However, it’s worth noting that most independent educational consultants work with a very limited group of students with similar profiles. As a result, they might not have the up-to-date information needed to support teens from different backgrounds, races, ethnicities, and religions. Estimating your chance of getting into a college is not easy in today’s competitive environment. Thankfully, with our state-of-the-art software and data, we can analyze your academic and extracurricular profile and estimate your chances. Our profile analysis tool can also help you identify the improvement you need to make to enter your dream school. Additionally, independent educational consultants tend to operate with little oversight. Without state or federal agencies looking over their shoulders, some IECs have resorted to less-than-honest practices. This was the case earlier in the month when the U.S. Attorney in the District of Massachusetts brought federal charges against 50 individuals for taking part in a conspiracy to help high schoolers get into elite colleges around the nation. On the other hand, college consulting firms tend to work with a larger group of students, allowing them to utilize the latest data to support a wide range of students from diverse backgrounds. At , we’ve worked with over 10,000 students online, meaning location isn’t a factor in securing aid and we’ve seen a breadth of profiles and decisions. Along with solving college fit issues, firms support teens in selecting the best high school coursework, choosing extracurriculars, and revising their college essays. While IECs mostly work with students who are ready to send out applications, consulting firms, like , know the college journey begins as early as freshman year of high school. So where do you start when choosing an IEC or college consulting firm? The best admissions counselors have prior experience working with students of various backgrounds and profiles.   Because college counseling remains unregulated, students and parents have to do some of their own legwork when choosing a firm. Here are some important questions to ask before selecting a college admissions counselor: Make sure the answer is no to the following: If the answer to either of the last two questions is yes, this company is best avoided. Additionally, teens and their parents should stay away from any firm that offers an acceptance guarantee. The truth is that no reputable admissions counselor can promise to get a student into a particular school, and those who claim to do so may be using unfair, dishonest, or illegal tactics. At , we understand that not every student has access to private school admissions counselors who can walk them through the college application process. With that in mind, we created a program specifically to answer students’ questions about college admissions and help them build robust applicant portfolios. We’ve worked with over 10,000 students and are able to leverage data across all types of profiles and schools. You can meet with us from anywhere. We’re up to date on what is happening in admissions right now at hundreds of schools. We can help you understand your best fit colleges and how to maximize financial aid using data! Whether your goal is to determine which schools to target or boost financial aid, we can help you achieve your goals. To schedule an appointment with our team, call today or contact our College Applications Program online .

Throughout history, individuals have had a significant impact on the Essay

Throughout history, individuals have had a significant impact on the outcome of events and on the development of cultures and so - Essay Example The change had enormous effects on the political arena as both Iran and America severed all its ties with each other; capturing of American hostages by Iran for 444 days, American subsequent unleashing of Saddam Hussein which ultimately led to the disastrous Iran-Iraq War. Under his government the most evident change that occurred in Iran was the change in its societal system. Iran was considered one of the most liberal countries in the world but after his taking of power its social order changed from a relatively free to strict conservative order. Women, at one point, were allowed to go down the street without Hijab; after Khomeini came into power all that changed and Hijab was made compulsory for women. Other effects on the societal system were that Iran had relatively stable religious communities which were not prosecuted under the Shah’s dictatorship but now they were openly targeted because of the contradiction of their faith with Islamic faith. A prime example of this is the Jewish population of Iran; during the times of Shah, the Iranian population was close to 80,000 to 90,000 but after Khomeini came into power it decreased to merely 20,000.

Learning By Doing and Using Instructional Technologies Research Paper - 1

Learning By Doing and Using Instructional Technologies - Research Paper Example Making use of technologies, students are able to access a wide range of virtual environments. This paper focuses on the process of learning by doing and using instructional technologies. The paper will explore the theories of learning and teaching relative to instructional technologies. Introduction of microcomputers and internet has greatly influenced teaching and learning. Technology motivates students to learn since it encourages use of hands-on-technology activities making learners more autonomous. Appropriate use of technology in teaching motivates students since encourages creative methods of learning and enables students to remain attentive. Use of technology for teaching affects the learning process in different ways. The instructional methods are affected since teacher or educators act more like facilitators (Hung, 2001; Candace, Sheri, & Lane, 2011). Several theories relate the theories of learning to use of technology in teaching. Educational theories embrace any phenomena that contribute to education in either philosophical or general approach. Instructional theories deal with aspects pertaining to instructions. The four main models of learning which include social constructivism, cognivitism, behaviorism, and constructivism form the framework of learning and teaching. The learning theories are distinct from the instructional approaches. Behaviorism and cognitivist models showed that the manner in which instructions are given determines the ease of learning. This is because the mind acts as an information processor. It is thus important to use technology base instruction approaches to encourage learners to reason (Bot, Gossiaux, Rauch, & Tabious, 2005). Constructivism and social constructivism models focus on influence of interactions on learning or assimilation and accommodation of knowledge. People tend to interpret ideas depending on how they perceived them. Use of technology to provide

Business and the Law Essay Example | Topics and Well Written Essays - 1250 words

Business and the Law - Essay Example For example in Carlill v Carbolic Smoke Ball C. [1893] is was held that there would be consideration even if the promise suffered an inconvenience by using the advertised smoke ball under the directions of the promisor and the promisor had not incurred a benefit. As Selwyn LJ noted, â€Å"any act† which either confers upon the promisor a benefit or â€Å"any detriment, or inconvenience† to the promise will amount to consideration.2 Essentially, consideration is an act or exchange of promises or bargains from which a quid pro quo outcome can be inferred.3 There is no consideration where there is a mere gratuitous promise with no exchange of promises.4 Giving the broad meaning of consideration in the law of contract, a collateral contract satisfies the requirement for consideration. It was held in De Lassalle v Guildford [1901] that there is consideration when the promisor promises to enter into the principal contract.5 It therefore follows that not only do collateral con tracts require consideration, they by necessity encompass consideration. ... For instance in relationship based upon the requirement of confidence and trust, there is a presumption of undue influence. However, fiduciary relationships and relationships characterized by inequality in bargaining positions will not automatically give rise to a presumption of undue influence.7 In this regard, it is not likely that ordinary contracts between banks and consumers will give rise to undue influence sufficient for voiding a contract. The specific facts of the case will determine whether there was undue influence. For example in Lloyds v Bundy [1975] QB 326, an aging farmer with no business experience provided the plaintiff with three guarantees in favour of a loan for his son’s failing business. The aging farmer had not been told of the gravity of his son’s business failings and was not the recipient of neutral legal representation. The loan failed to save the son’s business and the plaintiff took action to realize the loan by taking possession of t he aging farmer’s farm. The court ruled that there had been undue influence.8 The inequities between the bank and the elderly farmer in circumstances where there was essentially undue influence on the part of the bank, can give rise to unconsionability under Section 51 of the Trade Practices Act 1974 (as amended). Section 51 of the Trade Practices Act 1974 demonstrates the close relationship between unconscionability and undue influence.9 Essentially, Section 51 permits remedies for the consumer in circumstances where bargaining is conducted with the result that its corresponding agreement or the conduct during bargaining is unconscionable. A contract is unconscionable where one party is stronger than the other and asserts his will on the weaker party so

Discussion- CH5 Coursework Example | Topics and Well Written Essays - 250 words

Discussion- CH5 - Coursework Example Bank loans are not accompanied by any ownership condition. In addition, the bank personnel are not involved in the running of the business (Sloman and Sutcliffe, 104). The disadvantage of loan is that they are difficult to obtain and also the borrowers need to provide their personal guarantees. The pros of equity financing include no payment of interest. The investors are not paid interests though they will owe the entrepreneur some portion of profit. Equity financing has no liability. The entrepreneur is not liable and in case of failure, the investor takes the risk. No monthly payments are needed in equity financing. This allows for more money in the business to keep things running. Con associated to equity financing include giving up ownership. This is due to investors owning part of the business (Sloman and Sutcliffe, 303). Pros for stock include them being considered being having potential for higher returns as compared to other types of investments that are used by companies. Stock is considered to pay dividends. Extra income can be used to buy more shares for the company. Cons for stock include dramatically rise and fall that occur in stock price (Sloman and Sutcliffe, 167). Stack is seen also to have no guaranteed return. I agree with you that the most common types of financing for small entrepreneurs would be equity financing and debt financing. This is due to unavailability of ready finances. Debt financing allows using the finances and later pay to the lenders. Selling of shares is convenient to them as the money need not to be repaid. I equally agree with you that there are so many important skills that managers should have in order to drive success towards the company. The skills that are needed by the managers including ability to be a leader, positive relationship with employees, proper planning, proper delegation of duties, effective

Should the War on Drugs end Essay Example | Topics and Well Written Essays - 1750 words

Should the War on Drugs end - Essay Example They consider that the usage of drugs should be legalized in order to reduce the ratio of drug employment by the masses of America. According to William F. Buckley in his essay about the failure of war on drugs, drug taking is a gregarious activity. Buckley informs that there is no involvement of medical proceedings and medical evaluation in order to check the amount of consumption of drugs because of its being illegal (Buckley 1996). Because of illegality of drugs, medical evaluation is not possible. The war on drugs has failed because more people die because of the war on drugs in place of overdosing (Buckley 1996). According to Buckley, because of drug usage being illicit, people are involved in doing crimes such as robbery and killing. People who are desperate to take drugs have to take money from any illegal means to take hold of illegal drugs (Buckley 1996). Buckley adds that government has to appoint many thousands of policemen to chase the people taking and selling drugs illegally and they are involved in pursing the criminals of drugs business. A large number of policemen can do other constructive tasks in place of doing their cat and mouse game with the drug users and sellers (Buckley 1996). Buckley opts for the establishment of federal drugstores with no extra profit that is involved in illegal trafficking of drugs (Buckley 1996). The drug users because if illegal access to drugs are forced to do other crimes illegally. According to Buckley, the jails are full with illegal drug users due to which, the government has to endure a large amount of expenses on those drug criminals. He further informs that medical treatment for drug usage is far cheaper as compared to this cost that is involved in keeping drug criminals in jails. War on drugs has failed because the government is unable to control the usage of drugs by all their measures (Buckley

College Binge Drinking Research Paper Example | Topics and Well Written Essays - 3750 words

College Binge Drinking - Research Paper Example Studies reveal that depending on alcohol is a cause that is not directly or genetically transferred from generation to generation. However, it can be said that it is an outcome of a complex combination of psychological, genetic and environmental factors. People might drink to run away from problems, they might drink alone because of its short-term soothing effects, they might even drink on an excessive scale while attending parties or in bars for the sole purpose of entertainment and getting drunk, but as they carry on with their drinking practice, they forget that their drinking habit is accompanied by a long term chain of adverse side effects. This is because drinking itself highly disturbs the organ systems of a human body and slowly poisons the entire human system (Dryden-Edwards n.d.). Binge drinking, therefore is a common known terminology that is normally used to describe excessive intake or abusive intake of alcohol in the United States. Students attending their college are more likely to be involved in this practice. It is a pattern of getting drunk or in-taking alcohol in such a way that it brings an individual’s BAC (blood alcohol concentration) to 0.08 grams percent or at times even higher. Usually, this is more likely to happen when a male dinks five and more drinks. A woman, on the other hand, is projected to fall into the same state when she consumes up to 4 drinks in almost 2 hours. There are almost 79,000 deaths that occur each year and fall in the category of deaths due to excessive alcohol usage in the United States. Â  This means that excessive use of alcohol is the third greatest cause of death in the United States of America. Â  Moreover, excessive usage of alcohol can also be subjected to cause a massive, 2.3 million potential life losse s, per year. In addition, the statistics for the year 2005 show that up to 1.6 million people have to be admitted to the hospital and about 4 million have to be taken in the

The Pearl Manuscript and medieval visionaries Essay Example for Free

The Pearl Manuscript and medieval visionaries Essay Pearl texts and their surviving manuscripts are the rich heritage property of Middle English poetry. When a war is won, mention of important soldiers and Generals who contributed to the success of the war, if often mentioned and recorded. Similar is the case about the literature. The scholars who read, analyze, interpret and offer their criticism on ancient classics are often remembered by the .literary enthusiasts. So when one talks about the Pearl Manuscript, one remembers Sir Israel Gollancz. His views containing Pearl, Cleanness, Gawain and the Green Knight and Patience are original and noteworthy . His views have contributed much to shape the modern critical perspectives of this great text. The highlight of the poems of the Pearl Manuscripts is the   timeless appeal and the   inherent capacity to reach the inner realms of the human being with their latent   spiritual strength. What makes Gollancz’s editorial achievement exclusive? It is so, because it is comprehensive and well-researched.   Gollancz has taken into account all the important aspects of the Pearl Manuscript. His facsimile was reprinted three times since 1923, was reissued in 1971.For the later scholars Gollancz was the inspiration and the base. The audience for these poems is of two categories. The scholars engaged in study and further research on them, and the lay readers. Both owe a debt of gratitude for the enthusiasm and dedication with which Gollancz worked on Pearl Manuscripts. He kindled the interest of both categories in profound riches of the medieval English verse, for the period 1891 to 1940.But for Gollancz’s dedication, the task of going through the Pearl Manuscript in facsimile, would have been difficult. The original version of the Pearl texts and the authentic details of their codex are available at the Manuscript Room of the British Library. The other route to get it is costly and time-consuming—order copies of individual leaves from the Library’s Photographic Reproductions Office. â€Å"For these major achievements and for the many smaller contributions he made to resolving specific textual problems which vexed scholars of the Pearl poems, I believe the name of Sir Israel Gollancz must be placed alongside those of Sir Frederick Madden and Richard Morris on the list of founders of modern scholarship on the Pearl Manuscripts poems.†(Reichardt†¦) Some examples of the poems are: â€Å"Hope 3e à ¾at He heres not à ¾at eres alle made? Hit may not be à ¾at He is blynde à ¾at bigged vche y3e. (Patience, 123-24)1† (Reichardt..) The narrator of Patience recalls the Psalmist’s words: no one can escape the omniscience of God. Presently, this omniscience of God is related to the faculties of sight and hearing. You can not run away from the realities of life. You have to suffer or enjoy the consequences of your evil or good actions. There is no escape from it because you don’t have a secure place of escape away from the vision of God. Not even a leaf oscillates without His wish. The Creator sees all and hears all. The relationship between man and God is undeniable. All types of manifestations in the world are as per the will and command of God. Wherever we are and whatever we may do, our prime concern should be to exemplify and demonstrate the validity of the power of the Supreme Being. It is no use getting intoxicated by the intellectual achievements disregarding the reality of the Cosmic Supreme. â€Å"BÄ•rÄ «th is the Hebrew word which, in the Old Testament, is applied to ‘the three great covenants established by God at the three critical stages of the history of mankind: the creation, the reestablishment of mankind after the flood, and the birth of the Hebrew nation.’5 The centrality of covenant to the poems in this manuscript is manifest in the inclusion of the stories of both Noah and Abraham in Cleanness.†(www.marginalia) What is a fully imagined devotional response? It is the beginning of the search within.   Action without the motivated desire is possible through the sensory organs as seen in Pearl when the Dreamer approaches Christ. This means God can not be searched in the world outside. He can be realized in the innermost chambers of our heart and that too through a specific procedure. God is not sitting in the sky granting rewards and punishments. â€Å"Delyt me drof in y3e and ere, My manez mynde to maddyng malte; Quen I se3 my frely, I wolde be à ¾ere, By3onde à ¾e water à ¾a3 ho were walte. (Pearl, 1153-56)†(Reichrdt..) Wise people say that a poet sees what the sun can not see! This statement highlights the strength of the power of the narrative imagery. The images created by the poet are as powerful as those seen with the eye, if not more. Spoken words can provide you with some understanding but they can not reveal the truth. The truth can only be experienced, through the inner eye. If one wishes to see and know God, one has to perceive the eternal Divinity within one’s true Self. For that the precondition is to ignite a passionate and inextinguishable thirst to see, know, and realize our eternal Father. Since the dawn of the Creation, the procedure to know God has been one and the same. One’s own inner self is the eternal witness to one’s actions. There is no escape from this position under any circumstances. To watch means to participate. This condition is also in tune with the legal process. A covenant would not be valid without the witness, which ipso facto means that the witness has the perfect understanding of the contract. The witness has truly educated himself as to the true implications of the action. The word education is derived from the root â€Å"edu†, which means to draw out. So what is to be drawn out? It is one’s inherently blocked flow of latent potential including wisdom and creativity that needs to be squeezed out. Here one can understand what Mass implies. It is the enactment of both the spiritual and legal aspects of the covenant. The bread and wine symbolize the body and blood of Christ. In the Sacrifice of the Mass the priest takes recourse to dual actions-affirmative and destructive. A comparison can be drawn here, between the positive and negative tendencies of an individual. He re-enacts Christ’s breaking of the bread at the Last Supper and his immolation in the Passion. The question is how to beat the negative tendencies and how to draw out the celestial flow of dormant potential in every individual. For that, the need is to dig a tunnel right up to one’s core personality. Such a tunneling effect is the outcome of establishing unity between all one’s personality layers while harmonizing each one of them with one’s core personality called Pure Consciousness or Soul, which is the actual reservoir of one’s total potential.  Ã‚   The sum and substance of the Pearl Manuscript is to know and understand one’s inner world, which is the fountainhead of bliss, the communion with it paves the way for eternal happiness. Happiness and melancholy are the outcomes of one’s own positive and negative thoughts respectively. A spiritual flight is an ecstatic transcendental experience carried out by one’s soul. It involves the intermingling of one’s Soul with All-pervading eternal Consciousness. The deeper the Soul delves into the Infinite ocean of Universal Consciousness, the more it gets embellished with the spiritual pearls. This mystical transcendental experience is inexplicable, as it beyond all words, known languages and varied expressions. This is hurdle faced by greatest of the great poets. At this point, the power of poet’s imagery becomes powerless. For, this state can neither be defined nor confined and hence is inexpressible in terms of words and expressions. The best way to know it is through Self-Realization. Such a state is described by Poet Wordsworth in his poem ‘Daffodils’ as â€Å"the bliss of solitude.† Confessio Amantis (The Lover’s Confession) is a Middle-English poem by John Gower. It uses the confession made by an old lover to the Chaplin of Venus. The 33,000 lines poem is one of the great works of late 14th century English literature. The poet was an eminent writer, and belonged to a wealthy family. The contents of the poem again relate to vices and virtues, the sinner and the sinned, the different grades in the society, how the sinner can return to God, how he can obtain pardon by Jesus Christ, and his mother, the glorious Virgin. Probably it was written about 1376-1379.Confessio Amantis is addressed to King Henry IV. The subject dealt with has been called â€Å"In Praise of Peace.† In the conversation between the confessor and the penitent, seven deadly sins are discussed, by tales borrowed from other notable works, including the Bible. The transition from earthly love to higher plane of love is also elucidated. John Gower is no ordinary writer and â€Å"Confession Amantis, is by no means slender, and in some respects will stand comparison with Chaucers admittedly great gifts as a narrator.†(Catholic Encyclopedia) Conclusion The medieval poems have a charm of their own. That was the time the humanity was not affected by materialism, industrial and internet revolution. Rule of the heart prevailed, over the rule of the reason. The Kings and Queens dominated the political scene. Romanticism was part of the life of men in the high society. God and spirituality influenced every segment of the society and every aspect of human life. Human being feared the divine powers and prayed for peace and welfare.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚            References Cited: Andrew, Malcolm, Waldron, Ronand; Book: Poems Of The Pearl Manuscript: Pearl, Cleanness, Patience Gawain and the Green Knight (UEP Exeter Medieval Texts and Studies) Paperback: 380 pages Publisher: University of Exeter Press; 3 edition (January 1, 2002) Language: English ISBN-10: 0859897265 ISBN-13: 978-0859897266 Reichardt, Paul F. Sir Israel Gollancz and the editorial history of the Pearl findarticles.com/p/articles/mi_qa3708/is_199504/ai_n8729842/pg_11 33k Cached Similar pages, Retrieved on May 2, 2008 Reading and Believing: Covenant in the Poems of the Pearl Manuscript Gower’s words.. www.marginalia.co.uk/journal/06cambridge/bates.php 37k Cached Similar pages,Retrieved on My 2,2008. CATHOLIC ENCYCLOPEDIA: John Gower The Confession Amantis was translated into Portuguese by Robert Payn.. www.newadvent.org/cathen/06685a.htm 30k Cached Similar pages   Retrieved on May 2, 2008

Effect of Communication on Collaborative Working

Effect of Communication on Collaborative Working Discuss how communication within an inter-professional team could affect collaborative working. Inter-professional learning and collaborative working in healthcare are two significant practices that must be understood as health care practitioners and trainee health professionals, to deliver high quality of patient-centred care in National Health Service (NHS) through effective communication. Thus, the aim of this essay is to critical discuss and analyse how communication within an interprofessional team could affect collaborative working to reduce medical errors, decrease workloads, reduce mortality rate, conflict and lack of trust. Two specific key points will be addressed throughout this essay; collaboration with staff and students, effective communication such as verbal and non verbal which entails active listening. In accordance to the Nursing and Midwifery Council (NMC) (2015) codes of conduct on confidentiality, personal information and trust identifiers will be anonymous in the essay and service users (SU) will signify patients. Buring et al (2009) explained Inter-professional teamwork as the extent of which an array of several healthcare professionals such as doctors, nurses, pharmacists and many more work together successfully to influence the quality of care being provided, improve collaboration, enhance quality of patient care, lower costs, decrease patient length of stay and overall reduction in medical errors in health care setting. Negatively, poor communication within a team of health professionals might lead to conflict, lack of trust and may impact on patient care and safety (Vincent, 2011). Collaborative working in healthcare is the process whereby professionals from different disciplines work and support each other as a team cohesively, whilst balancing their roles, sharing responsibility towards making difficult clinical evidence based decisions appropriate enough for the best interest of the SU (McCabe Timmins, 2013). The NMC (2015) stated that to promote a dynamic collaboration among health and social care professionals, effective communication must be established and demonstrated within respective teams, at the same time respecting individual professional’s knowledge, skills and contribution. Flin (2009) defines communication as ‘the transfer of information, ideas or feelings’ (p. 16). However, Emmitt and Gorse (2009) articulate that the transmission of information from sender to receiver may be distorted, therefore, in order for communication to be successful within collaboration, professionals have to utilise this skill effectively. Daly (2004) affirms that effective communication between healthcare professionals is the cornerstone to successful collaboration. Furthermore, Stukenberg (2010) states that once effective communication has been implemented within collaborative working, improved knowledge, work interactions, and positive environment for professionals to work cohesively is established, subsequently, improving the delivery of patient care (Chatman, 2008). The two method of communication that has been commonly cited by numerous literatures are, verbal and non-verbal communications which are widely used by health and social care practitioners in various settings. A study of Purtilo and Haddad (2009) highlighted that verbal communication is vital to health professionals in forming professional relationship through the form of team meetings. The study further emphasised that regular meetings of interprofessional team linked by a common care pathway help to enforce verbal communication and activate effective team collaboration. An example of this was during the author’s placement in a hospice (palliative care), a multidisciplinary meeting was held regularly every week consisting of an array of professionals from different department such as nurse specialists, consultants, social workers, student nurses, doctors, occupational therapist, spiritual and psychological specialist to discuss and up-date members of the team regarding patien ts care. As observed, effective communication was utilised and initiated throughout the course of the meeting as ideas from this group of professionals were put forward in an orderly manner as each professionals took it in turn to contribute towards the decision-making process. Communication observed was clear and concise among the health professionals. Bach and Grant (2012) concurs that clarity of conservation among professionals will aid the process of information being transmitted accordingly thus leading to understanding, as it ensure vital information are not misheard in turn reduces the risk for confusion among individuals within the team. Burnard and Gill (2014) further explained that communication is the art and process of creating and sharing ideas from different individuals, therefore, when this is demonstrated within a group of professionals, they are able to contribute ideas drawing from their own knowledge, experience and expertise as suggested by Baatrup (2014). Tindall, Sedrak and Boltri (2013)also articulated that effective communication will warrant that each members of the team are kept up-to-date which is vital when key decisions are made regarding a patient’s care. They further elaborate that communication forms relationship where trust and respect are instilledthereby enhancing job satisfaction and wiliness of health professionals to join forces with one another as a team in order to deliver a care that is of high quality. Rost and Wilson (2013) maintains that active listening should also be incorporated within communication as it an invaluable tool that sustains collaborative working among healthcare professionals. However, communication failures among health care professionals have been highlighted as the leading cause of unintentional patients harm with many leading to permanent injuries and even deaths (The Joint commission, 2006). An example will be the devastating case of Victoria Climbie (UK Department of Health (DoH), 2003) which demonstrated the effects of ineffective team work and poor communication among health professionals. The recommendation from Lord Laming’s report on the Victoria Climbie inquiry stress the need for health care professionals to improve interprofessional communication and collaboration. As emphasised by UK DoH (2013), effective communication is crucial among health professionals to enhance care delivery, develop therapeutic relationships and it is known to be one of the 6C’s approved by government and NHS to support the values and ethics in health care delivery. Ineffective collaborative working can be as a result of lack of understanding, poorly defined roles and responsibilities, poor communication challenges among health care professionals, which evidently has a negative impact on clinical outcomes. As seen in the Francis report (2013) of the Mid Staffordshire hospital where SU were left to suffer as a result of poor communication and collaboration among interprofessional team. For this reason, the DoH (2013) emphasise the need for all health care professionals to work together collaboratively, communication effectively among each other and have an increased knowledge of the role of each member of the team. Interprofessional team must possess active listening skills which is an important tool in improving discussion and help building trusting relationships between health care professionals (Stainton et al, 2011). Aitken (2013) recognised good listening skills as an important tool for effective communication that can consolidate collaborative working among health professional especially for student analysis and learning. In terms of collaboration between staffs and students, this allows students to be able to gain insights into the varieties of language used such as terminologies commonly used within health and social care, in turn enhances understanding as students are aware of how best to communicate with other professionals within clinical practice building up their interprofessional skills paving away for effective collaboration (ref). REF) put fort the notion that where there is effective communication between staff and students, a strong relationship is formed where there is mutual respect and trust, even though there is differing competence between this specific group of individuals (Hamilton, 2010). Morgan, (2013) also states that effective communication will improve staff and students experiences. Collaborative working through effective communication facilitates professionals from a diverse range of other expertise to help achieve single aim, decrease work load, share ideas on how to deliver highest quality of care through understanding of information communicated. In addition, NMC (2015) recommends that professionals should have the necessary skills to communicate effectively with colleagues and other professionals in order to improve patient care. Hence, working collaboratively has been widely stimulated as the best approach in improving health outcomes (UK DoH, 2010). Furthermore, to support collaborative practice individuals need to utilise interpersonal skills to promote effective teamwork and communication. Therefore, Combined Universities Inter-professional Unit (CUILU) (2010) recommended a guideline designed to help students and different professionals understand how the development of a collaborative worker is evaluated by applying the inter-professional capability fr amework. This consists of four domains which are Collaborative working (CW), Reflection (R), the Cultural Awareness and Ethical Practice (CAEP) and the Organisational Competence. In conclusion, effective communication and collaboration has a huge impact on the lives of SU and health professionals either positively or negatively. It is the role of health professionals to address this and collaboratively maintain continuity of care where there is high quality patient centred care, promote good working relationship with members of a team, thereby enhancing job satisfaction for professionals and quality of life for patients. A good listening skills, mutual respect and value for team members irrespective of their discipline will also facilitate an effective collaboration and patient safety. REFERENCES Aitken, J.E. (2013). Cases on Communication Technology for Second Language Acquisition and Cultural Learning. United States: IGI Global. Baatrup, G. (2014). Multidisciplinary Treatment of Colorectal Cancer:Staging – Treatment – Pathology – Palliation. United Kingdom: Springer. Bach, S. A. Grant, (2012). Communication and Interpersonal skills in nursing. Exeter: Learning Matters Ltd. Buring, S.M., Bhushan, A., Broeseker, A., Conway, S., Duncan-Hewitt, W., Hansen, L. Westberg, S. (2009). Interprofessional Education: Definitions, Student Compentencies, and Guidelines for Implementation. American journal of pharmaceutical education, 73 (4), 1-8. Burnard, P. Gill, P. (2014). Culture, Communication and Nursing. United States: Routledge. Chatman, I.J. (2008). Medical Team Training:Strategies for Improving Patient Care and Communication. United States: Joint Commission Resources. CUILU (2010) Interprofessional Capability Framework: a framework containing capabilities and learning levels learning to Interprofessional capability. The Combined Universities Interprofessional Unit. Sheffield Hallam University and The University of Sheffield. Daly, G. (2004). Understanding the barriers to multiprofessional collaboration. Nursing Times, 1(9), 78 -79. Emmitt, S. Gorse, C.A. (2009). Construction Communication. United Kingdom: John Wiley Sons. Flin, R. et al (2009) Human factors in patient safety: review of topic and tools. Report for Methods and Measures Working Group of WHO Patient Safety. Geneva: World Health Organization. Retrieve April 7th 2015, from http://www.who.int/patientsafety/research/methods_measures/human_factors/hu man_factors_review.pdf Francis, R. (2013). Report of the Mid Staffordshire NHS Foundation Trust Public Inquiry. The Mid Staffordshire NHS Foundation Trust Public Inquiry. London: TSO Hamilton, C. (2010). Communicating for Results: A Guide for Business and the Professions. (9th ed.). United States: Wadsworth Cengage Learning. McCabe, C. Timmins, F. (2013). Communication Skills for Nursing Practice. (2nd ed.). United Kingdom: Palgrave Macmillan. Morgan, M. (2013). Improving the Student Experience:A Practical Guide for Universities and Colleges. United Kingdom: Routledge. Nursing Midwifery Council. (2015). The code professional standards of practice and behaviour for nurses and midwives. London: NMC Purtilo, R. Haddard, A. (2009). Health professional and patient interaction. (7th ed.). United States: Rost, M. Wilson, J. (2013). Active Listening. United States: Routledge. Stainton, K., Hughson, J., Funnell, R., Koutoukidis, G. Lawrence, K. (2011). Tabbners Nursing Care:Theory and Practice. Elsevier Health Sciences. Stukenberg, C.M. (2010). Successful Collaboration in Healthcare:A Guide for Physicians, Nurses and Clinical Documentation Specialists. United States: CRC Press. The Joint Commission (2006). Root causes of sentinel events, all categories. Oakbrook, IL Retrieved April 4th , from http://www.jointcommission.org/NR/rdonlyres/FA465646-5F5F-4543-AC8F-E8AF6571E372/0/root_cause_se.jpg Tindall, W.N.,Sedrak,M., Boltri, J. (2013). Patient-Centered Pharmacology:Learning System for the Conscientious Prescribe. Philadelphia: F.A. Davis. United Kingdom. Department of Health (2010). Modernising Scientific Careers: The England action plan. Retrieved April 10th, 2015 from https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/139529/dh_115144.pdf United Kingdom. Department of Health and NHS Commissioning Board (2013). Compassion in practice. Nursing, midwifery and care staff: our vision and strategy Redditch: NHS Commissioning Board. United Kingdom. Department of Health. (2003). Laming Report. The Victoria Climbià © Inquiry-Report of an inquiry by Lord Laming. Retrieved April 4th , 2015 from https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/273183/5730.pdf Vincent, C. (2011). Patient Safety.(2nd ed.). United Kingdom: Wiley Blackwell.

Finding A Job Essay -- Process Essays Work Job Essays

Finding A Job Every day someone is looking for a job. Whether that person is a recent graduate, a person laid-off from work, or a person that wants a different job, their diligent search turns into a carefully planned search for employment. It is important that a person knows how to search effectively for a job. There are three effective ways to look for a job: use a variety of resources, do a resume, and go on interviews.   Ã‚  Ã‚  Ã‚  Ã‚  One way a person can look for a job effectively is to use a variety or resources, such as the newspaper, the Internet, or the local Job-Service Agency. The newspaper can be used to help find a job by looking at the job listings in the classified ad sections. The job listings in a newspaper vary depending on what is listed. One can find the classified ads by using the newspaper's index, which is located in the front of the newspaper. Another resource that can be used is the Internet. The Internet contains many search engines that can be used to find a specific job. One can even apply for jobs over the Internet. A person can also use the local Job-Service Agency to find a job. A Job-Service Agency can help the unemployed person find a job in the area where he or she lives. The Job-Service Agency tries to match ones skills with the jobs that are available.   Ã‚  Ã‚  Ã‚  Ã‚  Another good way of looking for a job, is to actually walk into the store/place that may be a good place to work. Up at the customer service they have job applications. Ask one of ...

Taizong versus Al Mawardi in Politics and Religion Essay examples -- e

The Taizong handout and the Al Mawardi source can be compared through their religious and political similarities and differences. These two sources have many similarities, yet they also have some key differences. They differ, for example, in their views of: ways a ruler or emperor should rule their government or empire, the use of the military, and the similarity between who will succeed and or shall be chosen for a right task in government. It seems as if the Islamic structure for government is much more strict than the Tang Dynasty, based on the fact that the Islamic government must follow the Koran and Hadith. One difference between the Taizong handout and the Al Mawardi source is the way an emperor or caliphate shall rule their government or empire. The Islamic ruler or caliph was elected by the people, which was the idea of the majority of the population, the Sunni’s. The job of caliph or ruler involved strict religious and political duties. The power of the government was complete as long as its ruler or caliph stuck to the Koran and Hadith. If something clashed with the Koran it could not be done. A ruler could not broaden his will so that he will be able to accept heaven and earth. The ruler had to follow the words of the Koran and had to follow the Islamic law, Hadith. The Islamic ruler at the time had to follow the Koran and Hadith, thus if this ruler did follow the Koran and Hadith it would constitute him and a good ruler. Emperor Taizong on the other hand believed there are other ways for an Emperor to act. Based on Confucian philosophy, â€Å"When the ruler looks as lofty and firm as a mountain peak and as pure, bright and illuminating as the sun and moon, the people will admire and respect him†. If this Emperor did... ...ons for the caliph. Knowledge about the religion, Hadith, and the government is required to be a caliph. One difference between Taizong’s advice and Al Mawardi’s ideas is the fact that in the Tang Dynasty there was Confucianism within the government, it was the examination system. To become part of the Tang Dynasty government, one must pass a Confucian based test. If one does pass the test they become part of the government. â€Å"Those with low intelligence or capability should not be entrusted with heavy tasks or responsibilities. If the right person is given the right task, the government can be governed with ease. Whether the emperor gets hold of the right person for the right task determines whether his empire will be well governed.† Determining whether the emperor gets the right person for the right job will determine how long the government and Dynasty shall last.

Chemistry Investigation :: essays research papers

Investigate A Factor Which Affects the Rate Of Fermentation Of Yeast This experiment is investigating one of the factors which affects the rate of fermentation of yeast. Several factors affect the rate of reaction:  Increasing the concentration. (See the lock and key theory.) If the substrate (glucose) is increased, then there would be more keys for the locks, therefore an increase in reactant concentration leads to an increase in reaction rate.  The surface area, the bigger the surface area, the faster the reaction time is, as the reactant can reach more parts.  The temperature, an increase in temperature leads to an increase in reactant rate. Generally, as the temperature is increased, the particles get more energy, so they bump into one another more, therefore speeding up the reaction time. This is called the collision theory, which I will discuss in greater depth later.  Whether or not there is a catalyst. A catalyst speeds up the rate of reaction and remains chemically unchanged by the end of the experiment. A catalyst lowers the activation energy. This is the energy needed to start a reaction. The variable that I have decided to change is the temperature. I have decided to alter the temperature of the yeast and time the amount of carbon dioxide that will be given off at different temperatures. I have decided to time how much carbon dioxide is given off in five minutes. Throughout the investigation, I will keep the temperature the same as I have specified for each reading. For example, if I am taking a reading in which the temperature must be 5 degrees, I will make sure that the yeast is kept at this temperature. When I am altering the temperature of the yeast, I will place it in a water bath of the specified temperature, which makes the temperature much more accurate. For example, if I heat up the yeast using a Bunsen burner, I could heat it up too much, thereby denaturing the enzymes and ruining the experiment. After the enzymes have been denatured, they can no longer react. It will also be important not to agitate the solution at all, because this would cause collisions between particles, speeding up the reaction time and making the test unfair. While doing an experiment such as this, it is vital to be safe at all times. You should stand up at all times, making sure that stools are firmly under desks.

My opinion about Catherine Hayles’ book Essay

My opinion about Catherine Hayles’ book Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I disagree with the conclusion of Catherine hayles book and her latest advice.The picture that Catherine Hayles frames is that human being fear to be post human .In her argument She puts information as the core that only requires a conveying media and that media can be machines or human being. She shows how post human is necessary by giving it a positive outlook than human. Hayles argues that human being will be replaced by post human and the human race will face extinction. In her conclusion she states that post human are superior than human being and goes further to feeble the human being by saying that they are not autonomous in thinking . In a further extent Hayles in her book says that computers machines and programs will wipe away the human race.There are many things I don’t agree with Catherine Hayles I will lay down my argument disagreeing with her argument.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Human being are superior over all creation and they cannot be replaced by any other creation.Catherine Hayles argues that human being will morph into something else, something like a cyborg where machines will be overall and incharge and commernder of the other creation.This view is far away from truth, human being cannot be replaced by a creation that has been made by Him. Human being were created to subdue the earth and all the other creations are inferior to Human. It’s not possible to create something and be inferior to it. God is superior to us and so we are superior to machines. Catherine Hayles needs to elaborate and explain why can we create something and it turns to our god.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Posthuman cann’t think as human being does. Hayles lays down her argument saying that post human do think as human being . This she tries to argue that the deeds and actions that can be done by a human being due to thinking can also be done by robot because it thinks too. Do posthuman have self will like human being does? This is a question not answered in her book. Human being thinks in a natural way and posthuman thinks as a result of radio frequency identification (RFID). There is a big gap between posthuman and human being and nothing can bridge this gap.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Looking at the contribution she made the last in her book , her ambition are much higher. The first chapter she read the book of Hans Moravec’s Mind Children:The future of robot and human intelligence and she got a shock. The thing that captured her mind was Moravec’s assertion which stated that near future the consciousness of human being will be transferred to that of computer.There are two prepositions that are implicated here; (1) That existence of information is not reliable to a particular substrate. (2) The consciousness of human being is information. These two preposition are the one that Hayles through her narrative contests three devoted topics; The cyborg emerged as a result of cultural artifacts, how the body was lost by information and the construction that resulted the emergency of post human.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hayles goes further in defining post human using two other ways, first was that posthuman are susceptible, coordinating and self organizing its self in a larger system. She argues that we are dictated by the environment we live in and thus integrated into that environment. She says that human being needed posthuman and thus the technology is the one that pushes for it. The innovation is the one that created posthuman and human being now depends on posthuman. She alludes posthuman in a manner above it’s definition, she says that the information from body is tranferrable from body to machines.It’s very clear is literature and has no facts in it human and posthuman mutually require each other to survive but posthuman requires human to live.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hayles opposes the formulation of the second definition of post human and endorsing the definition of the first one. She argues that we think of apocalyptic visions where machines will be equal and become our superior. Hayles didn’t see the danger to obviate the stated machines and the repercussion of changing definition. Hayles argument doesn’t give any hope for survival of human being, that’s very pathetic.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another argument she grounds herself with is that there will be full integration of one’s self with a machine and that the content that evolution excluded. She says that body has a sediment history and it do have an architecture in it, a â€Å"physical structure whose constraints and possibilities have been formed by an evolutionary history that intelligent machines do not share.† ( C. H ayles,284, 2009.) In my views, human being cannot be fully identified with machines.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hayles did mention about Joseph Weizenbaum’s statement that making a judgement and the capacity to make is a matter that should be left as an ethical principle, to the human alone. I don’t agree. What are the impacts of feeding more and more information and functions to technology and computers? How is it possible for us to lose our humanity for we resign the skill to practice the decision of of a particular nature?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If we take machine and look at themselves, the analysis of Hayles shows that posthuman have the same consciousness as human and they help in our thinking and they do perform the functions that we don’t need to but quiet want to.Infact they do function and perform better than human being .But we should not forget where they originated from. All machines and their relatives they came from the effort of human mind production. Human being has created them to aid in maximizing his own efficiency and he have, with no doubt accomplished his motive. Without human being machines would not be in existence and thus for them to exist human being has to exist first and the cognition ability would not be there . Ayn Rand character has one that we can link to this art and says in Atlas Shrugged: â€Å"I thought†¦of the men who claim that machines condition their brains. Well there was the motor to condition them, and there it remained as jus t exactly what it is without man’s mind-as a pile of metal scraps and wires, going to rust.† (page 745, Atlas Shrugged) This statement show sense in Hayles and I agree on: Human is conditioned by machine and we appreciate them in our lives and enhance them but I differ in that human being is still dorminant . Machines without the human being they would go extinction and get to rust.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If the cyborg and the cyborg varieties were to exist as put by the Hayles they would still require human skills and characteristics for their ‘brain’ to function, to have conscious and to think like human being. Hyles didn’t explain this and how if human being were to go to extinction the post human would survive, else she have a task to do.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hayles the premises that she posits as another cause of fear of post human is the liberal humanist opinion of the human kind matters autonomy. Human being are able to see all the possibilities which are open to choose and they have the will and they can synthesize these sources. Schopenhauer’s there is an outline in THE WORLD AS WILL AND REPRESENTATION(BOOKIII). Human being are able to think, they are able to process data , they are able to create it and pull judgements built on their feelings. This Information comes from several sources in machine but in human being they come purely on them. Machines they are devoid of thinking and they have no conscious like ours. Hayles in her argument doesn’t have the real world instances , and those that she uses are not very clear they are not specifically illuminating. In her early books she says that she finds saying that â€Å"Well my sleep agent wants to rest, but my food agent say s I should go to the store†( Hayles 2009,6).This is certainly an odd approach of talking and She draws a very significant deductions from it. â€Å" Each person ,† She claims, â€Å"who thinks this way begins to envision herself or himself as a posthuman collectivity, an ‘I’ transformed into the ‘we’ of autonomous agents operating together to make self† (Catherine. H, pg 6 2009) There are questions that rises about personal disorders of the multitude. The example of ability of multiple to celebrate and creatively dissociate leads to rejection of therapy that tries to integrate their adjusts. People definitely will be talking around themselves in a fresh ways. But moral agents asks what thinking together about themselves meant. Hayles put it that â€Å"serious consideration needs to be given to how certain characteristics associated with liberal subject, especially agency and choice, can be articulated with in posthuman context† (C atherine.Hayles, pg5, 2009) and she left it like that . She didn’t show any alternative of her implications.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion Hayles argument is lacking enough facts and is based in prepositions that she lays to win the heart of literature, and in my views she didn’t succed. If you consider streams with standing waves, which visibly forms the front side of the rocks which projects superficial above the water. They retain their normal shape and their normal integrity despite being changed by the molecules of water .I still find the machines being continuously changing their integrity but can’t replace human being and they can’t lead extinction of human kind. References Harrison, Ariane Lourie. Architectural theories of the environment: posthuman territory. New York, NY: Routledge, Taylor & Francis Group, 2013. Print. Hayles, N. Katherine. How we became posthuman: virtual bodies in cybernetics, literature, and informatics. Chicago, Ill.: University of Chicago Press, 1999. Print. Leithauser, Brad. Penchants & places: essays and criticism. New York: A.A. Knopf :, 1995. Print. Younkins, Edward W.. Ayn Rand’s Atlas shrugged a philosophical and literary companion. Aldershot, England: Ashgate, 2007. Print. Bateson, Catherine. Being Bee. New York: Holiday House, 2007. Print. Gronebaum, Melissa. Arthur schopenhauers die welt als wille und vorstellung†. S.l.: Grin Verlag Gmbh, 2014. Print. Harrison, Ariane Lourie. Architectural theories of the environment: posthuman territory. New York, NY: Routledge, Taylor & Francis Group, 2013. Print. Hayles, N. Katherine. How we became posthuman: virtual bodies in cybernetics, literature, and informatics. Chicago, Ill.: University of Chicago Press, 1999. Print. Leithauser, Brad. Penchants & places: essays and criticism. New York: A.A. Knopf :, 1995. Print. Younkins, Edward W.. Ayn Rand’s Atlas shrugged a philosophical and literary companion. Aldershot, England: Ashgate, 2007. Print. Source document

Chapter 16 Investments

CHAPTER 15 INVESTMENTS CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Time Range (minutes) 10-15 10-15 10-15 15-20 15-20 10-15 Number E15-1 E15-2 E15-3 E15-4 E15-5 E15-6 Content Trading Securities. (Easy) Journal entries. Unrealized holding gain. Balance sheet disclosure. Trading Securities. (Moderate) Journal entries. Income statement and balance sheet disclosures. Long-Term Investments. (Easy) Securities available for sale. Purchase and adjusting entries. Available-for-Sale Securities. (Easy) Journal entries. Compute unrealized increase/decrease balance. Available-for-Sale Securities. (Easy) Journal entries.Balance sheet disclosure. Held-to-Maturity Bond Investment. (Easy) Premium, straight-line amortization, journal entries. Error in recording interest at acquisition. Held-to-Maturity Bond Investment. (Easy) Discount, semiannual interest receipts, straight-line and effective interest methods of amortization, journal entries. Held-to-Maturity Bond Investment. (Moderate) Discount, semia nnual interest receipts, sale at gain. Effective interest method. Journal entries. Bond Investment. (Moderate) Discount, semiannual interest receipts, amortization schedule using effective interest method, journal entries.Bond Investment. (Moderate) Premium, semiannual interest receipts, amortization schedule using effective interest method, journal entries. Bond Investment. (Moderate) Premium, semiannual interest receipts, sale at loss. Effective interest method. Journal entries. Transfer Between Categories. (Easy) Reclassification from â€Å"held-to-maturity† to â€Å"available-for-sale securities. † Journal entries for interest and reclassification. E15-7 10-20 E15-8 10-20 E15-9 10-20 E15-10 10-20 E15-11 E15-12 15-20 10-15 15-1 Number E15-13 E15-14 E15-15 E15-16 E15-17 E15-18 E15-19 E15-20Content Impairment of Investment in Bonds. (Moderate) Journal entries for impairment. IFRS differences. Equity Method. (Easy) Stock investment. No goodwill. Journal entries, balanc e sheet presentation. Equity Method. (Easy) Stock investment. Journal entries. Income and depreciation. Dividends received. Equity Method. (Moderate) Stock investment. Earned income, received dividends. Journal entries. Convertible Bonds. (Easy) Purchase and conversion. Journal entries (including memorandum entry). Stock Dividends. (Easy) Journal entries for stock acquisition, stock dividend, and sale of a 1% interest.Life Insurance Policies. (Easy) Journal entries to record purchase, premium payments, change in cash surrender value. Sinking Fund. (Moderate) Purchased securities, collected dividends and interest, wrote up to fair value, sold securities, paid expenses, retired bond. Journal entries. (Appendix). Derivatives. (Moderate) Loan and derivative (interest rate swap: fair value hedge). Journal entries, including present value calculations. Financial statement disclosures (one year). Trading Securities. (Moderate) Journal entries. Income statement and balance sheet disclosures .Trading Securities. (Moderate) Journal entries. Income statement and balance sheet disclosures. Available-for-Sale Securities. (Moderate) Journal entries. Income statement and balance sheet disclosures (current and noncurrent). Effect of including unrealized holding gains and losses in income. Available-for-Sale Securities. (Moderate) Journal entries. Income statement and balance sheet (current and noncurrent) disclosures for two quarters. Temporary Available-for-Sale Investments. (Challenging) Journal entries. Income statement and balance sheet disclosures for four quarters.Investment in Available-for-Sale Bonds. (Challenging) Purchase at discount and at premium. Effective interest method of amortization. Sale. Journal entries. Income statement and balance sheet disclosures. Time Range (minutes) 15-25 10-20 10-15 10-20 15-20 5-15 10-15 10-15 E15-21 15-25 P15-1 P15-2 P15-3 15-20 15-20 20-30 P15-4 25-35 P15-5 30-45 P15-6 40-60 15-2 Number P15-7 Content Investments in Available-for-S ale Bonds and Equity Securities. (Challenging) Fair value method. Record various transactions. Income/loss determination. Determine carrying value of Temporary Investment account.Temporary Investments, Funds, Bank Reconciliation. (Challenging) Marketable securities and petty cash fund. Journal entries. Bank reconciliation. Bond Investment. (Challenging) Effective interest method. Premium. Journal entries to record purchase, interest receipt, partial sale, retirement. Bond Investment. (Challenging) Discount. Straight-line method, effective interest method. Amortization schedules. Journal entries. Bond Investment. (Moderate) Between interest dates. Discount. Straight-line method. Journal entries to record purchase, interest, retirement.Error in recording interest at acquisition. Bond Investment. (Challenging) Premium. Straight-line method, effective interest method. Amortization schedules. Journal entries. Bond Investment. (Challenging) Discount. Effective interest method. Partial sal e. Journal entries. Comparison of Fair Value and Equity Methods. (Challenging) Stock investments. Journal entries to record purchase, income, dividends, sale. Equity Method. (Challenging) Stock investments. Journal entries to record purchase, income, dividends. Equity Method. (Challenging) Stock investments. Journal entries.Goodwill computation. Year-end balance in investment account. Cash flow from operating activities under the indirect method. Equity Method. (Moderate) Stock investments. Journal entries to record purchase, income, dividends, sale. Change from Fair Value to Equity Method. (Challenging) Change from 10% to 40% ownership. Calculate dividend revenue, unrealized increase, investment income, and carrying value of investment for two years. Life Insurance Policies. (Moderate) Journal entries to record annual premiums, change in cash surrender value, policy redemption.Time Range (minutes) 30-45 P15-8 30-45 P15-9 30-45 P15-10 30-45 P15-11 20-30 P15-12 30-45 P15-13 P15-14 30 -40 30-45 P15-15 P15-16 20-30 30-40 P15-17 P15-18 30-40 25-40 P15-19 20-30 15-3 Number P15-20 Content (Appendix). Derivatives. (Moderate) Loan and derivative (interest rate swap: fair value hedge). Journal entries, including present value computations. Financial statement disclosures (two years). Time Range (minutes) 20-45 ANSWERS TO QUESTIONS Q15-1 Companies purchase securities of other corporations for a number of different reasons.One reason is to obtain additional income by investing excess cash. A second reason is to create long-term relationships with suppliers. A third reason is to obtain significant influence or control over related companies. The three categories of investments in debt and equity securities when there is no significant influence are trading securities, available-for-sale securities, and held-tomaturity debt securities. (a) A debt security represents a creditor relationship with another company. (b) An equity security represents an ownership interest in anot her company. c) The fair value is the amount at which a security could be exchanged in a current transaction between willing parties. Q15-4 When an investor owns between 20% and 50% of the voting common stock of the investee, the investor is presumed to have significant influence over the investee. When this occurs, the equity method is used to account for the investments. When the investor controls the investee by owning more than 50% of the voting common stock of the investee, then the investor issues consolidated financial statements which are the combined financial statements of both companies.Q15-5 To account for an investment in trading securities, the investment is initially recorded at cost. It is subsequently reported at fair value and the unrealized holding gains and losses are included in income. Any interest and dividend revenue, as well as realized gains and losses on sales, are likewise included in income. To account for an investment in available-for-sale securities, the investment is initially recorded at cost. It is subsequently reported at fair value, and the total unrealized holding gains and losses are reported as a component of accumulated other comprehensive income in stockholders' equity.The unrealized holding gains and losses for the period are reported in other comprehensive income. Interest and dividend revenue, as well as realized gains and losses on sales, are included in income. To account for an investment in held-to-maturity debt securities, the investment is initially recorded at cost and subsequently reported at amortized cost. Any unrealized holding gains and losses are not recorded, and interest revenue and gains and losses on sales are all included in income. 15-4 Q15-2 Q15-3 Q15-6 Q15-7 Q15-8An investment in available-for-sale securities is reported at fair value, as determined by the year-end selling prices on a securities exchange, and any changes in unrealized holding gains and losses are included in other comprehensive income. An adjusting entry is made at the end of each period to an Unrealized Increase/Decrease account and an Allowance account to reflect any change in fair value. The total unrealized increase/decrease is reported as accumulated other comprehensive income in stockholders' equity. Gains and losses on sales of securities are reported in the income statement.They are measured as the difference between the selling price and the cost (in the case of an equity security) or the amortized cost (in the case of a debt security). In addition, because the security is no longer in the portfolio of available-for-sale securities, the cumulative balance in the allowance account and the cumulative unrealized increase/decrease in the value of the security reported for that security at the previous balance sheet date must be â€Å"reversed† out of the accounts. Bonds carrying a stated interest rate above the prevailing yield for securities with a similar amount of risk are purchased at a pre mium.Premium amortizations result in an effective interest rate that is lower than the stated rate. Thus, interest revenue is lower. Bonds carrying a stated interest rate below the prevailing market rate for securities with a similar amount of risk are purchased at a discount. Discount amortizations result in an effective interest rate that is higher than the stated rate. Thus, interest revenue is higher. The two methods available to recognize interest revenue and account for premiums and discounts on investments in held-to-maturity bonds are the straight-line and effective interest methods.Under the straight-line method, an equal amount of premium or discount is amortized each period as an adjustment of interest revenue. Under the effective interest method, the market (yield) rate at the time of issuance is multiplied times the previous carrying value to determine the interest revenue. (a) When an investment in a debt security is transferred from the â€Å"held to maturity† category to the â€Å"available for sale† category, an unrealized holding gain or loss is computed by comparing the current fair value to the carrying value (amortized cost) of the bond and is reported as a component of other comprehensive income. b) When an investment in a debt security is transferred from the â€Å"available for sale† category to the â€Å"held for maturity† category, any unrealized holding gain or loss on the date of transfer continues to be reported as a component of other comprehensive income. The amount is amortized over the remaining life as an adjustment of the yield. Q15-9 Q15-10 Q15-11 Q15-12 Q15-13 Q15-14 Current asset Temporary investment (at cost) Plus: Allowance for change in value of investment Temporary investment (at market value) $XXXX XXX $XXXX 15-5 Q15-15 IFRS allow the reversal of an impairment loss.The reversal of this impairment loss is reported on the income statement. U. S. GAAP does not permit the reversal of an impairm ent loss. When an investor corporation owns a sufficiently large percentage of common stock, it is able to exert significant influence over the operating and financial policies of the investee corporation. In particular, the investor may be able to influence the investee's dividend policy. The dividends paid may be affected by the investor's cash needs, desire to raise its income, or by tax considerations. The equity method is used to account for this investment.It acknowledges the existence of a material economic relationship between the investor and the investee, is based upon the requirements of accrual accounting, and reflects the changes in the stockholders' equity of the investee company. When the equity method is used, an investment in common stock is initially recorded at its acquisition cost. However, in contrast to the fair value method, income is recorded by the investor as an increase to the Investment account and as investment income (based on the investor's percentage ownership) when it is reported by the investee.Dividends received (or receivable) are recorded as reductions in the carrying value of the Investment account whenever they are paid (or declared) by the investee. Furthermore, (1) since a material relationship is presumed, the effects of all intercompany items of revenue and expense are removed from the investor's accounts to avoid â€Å"double-counting,† and (2) if the acquisition cost is greater than the proportionate book value of the investee, additional depreciation may be recognized.It is necessary to eliminate intercompany revenues and expenses in the determination of investor net income, depreciate the proportionate share of any difference between the fair values and book values of investee depreciable assets implied by the acquisition of the investee shares, and treat the proportionate share of investee extraordinary items as investor extraordinary items (the proportionate share of investee results of discontinued opera tions is treated in a similar manner). The facts and ircumstances that preclude an investor who owns more than a 20% investment of an investee from using the equity method include: (1) the investee challenges the investor's ability to exercise significant influence through litigation or complaints to governmental regulatory authorities; (2) the investor and investee sign an agreement that the investor surrenders significant rights as a shareholder; (3) a small group of shareholders who operate the investee hold majority ownership and ignore the views of the investor; (4) the investor needs more financial information to apply the equity method than is available to the investee's other shareholders, and cannot obtain this information; (5) the investor cannot obtain representation on the investee's board of directors. a) When an investor acquires enough additional common stock during a year to change from the fair value method to the equity method, the investor is required to restate i ts investment in the investee by debiting the Investment account and crediting Retained Earnings for its previous percentage of investee earnings (less dividends) for the period from the original date of acquisition to the date that significant influence was obtained. It also eliminates any adjustments of the Allowance and Unrealized Increase/Decrease accounts made under the fair value method. Q15-16 Q15-17 Q15-18 Q15-19 15-6 Q15-19 (continued) (b) When an investor using the equity method sells a portion of the investment such that its portion of ownership falls below 20%, the use of the equity method is no longer appropriate and the investor no longer accrues its share of investee earnings. However, previously recorded income remains as a part of the carrying value of the Investment account. The investment is then accounted for under the fair value method.Q15-20 Under IFRS, Morgan and Parker could account for the joint venture arrangement using either the equity method or proportio nate consolidation. Under the equity method, Morgan and Parker would report their investment in the associate (equity method investee) at cost, adjusted for their proportionate share of the income less their proportionate share of any dividends paid by the investee. Under proportionate consolidation, Morgan and Parker would report consolidated financial statements for their proportionate share of the joint venture. (Consolidations are covered in a later accounting course. ) Under U. S. GAAP, the use of proportionate consolidation for joint venture arrangements is not allowed.Many insurance policies allow a portion of accumulated premiums to build up as a savings plan; and, if the policy is canceled, this savings plan, or cash surrender value of the policy, is returned to the company purchasing the life insurance policy. When a company is guaranteed a return equal to the amount of the cash surrender value of the policy, a part of each premium paid represents an investment. The portio n of the yearly premium that does not increase the cash surrender value of the policy is recorded as the amount of insurance expense, typically in the year-end adjustment of prepaid insurance. The amount of cash surrender value of life insurance policies is included as a long-term investment on the balance sheet. The increase each year is stated in the policy.A fund involves setting aside cash and other assets to accomplish specific objectives; whereas, an appropriation of retained earnings only reduces retained earnings available for dividends and does not provide any cash. Funds may be current, such as petty cash funds, or they may be long-term, such as those to retire long-term bonds or preferred stock, or those to purchase long-term assets. Q15-21 Q15-22 ANSWERS TO MULTIPLE CHOICE 1. 2. a b 3. 4. a c 5. 6. b b 7. 8. c a 9. 10. c c 15-7 SOLUTIONS TO REVIEW EXERCISES RE15-1 Investment in Available-For-Sale Securities* Interest Revenue ($12,000 x 0. 10 x 4/12) Cash *$12,000 + $6,00 0 RE15-2 Interest: Cash ($12,000 x 0. 0 x 6/12) Interest Revenue Dividends: Cash Dividend Revenue ($1 x 300) RE15-3 Unrealized Increase/Decrease in Value of Available-For-Sale Securities* Allowance for Change in Value of Investment *($12,300 – $12,000) + ($5,500 – $6,000) RE15-4 Cash Investment in Available-For-Sale Securities Gain on Sale of Available-For-Sale Securities Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-For-Sale Securities RE15-5 Investment in Held-To-Maturity Debt Securities Cash 215,443 215,443 6,400 6,000 400 200 600 18,000 400 18,400 600 300 300 200 500 500 15-8 RE15-6 Cash ($200,000 x 0. 12 x ? ) Investment in Held-To-Maturity Debt Securities Interest Revenue ($215,443 x 0. 10 x ? RE15-7 Investment in Trading Securities Investment in Available-For-Sale Securities Gain on Transfer of Securities Unrealized Increase/Decrease in Value of Available-For-Sale Securities Allowance for Change in Value of Invest ment RE15-8 Realized Loss on Decline in Value Investment in Held-To-Maturity Debt Securities RE15-9 Investment in Stock: Eagle Corporation (0. 30 x $120,000) Investment Income Investment Income Investment in Stock: Eagle Corporation [($620,000 – $600,000) x 0. 30] ? 8 Cash (0. 30 x $48,000) Investment in Stock: Eagle Corporation RE15-10 Note: No journal entry is required, only a memorandum entry is made for a stock dividend. Memo: Received 1,500 shares of Gamecock Company stock as a stock dividend. The cost of the shares is now $22 per share, computed as follows: ($99,000 ? 4,500). 36,000 750 750 14,400 14,400 15,520 15,520 12,500 9,400 3,100 12,000 1,228 10,772 2,300 2,300 36,000 15-9RE15-11 Cash (750 x $28) Investment in Available-For-Sale Securities (750 x $22) Gain on Sale of Investment [750 x ($28 – $22)] Unrealized Increase/Decrease in Value of Available-For-Sale Securities [750 x ($24 – $22)] Allowance for Change in Value of Investment RE15-12 Prepaid Ins urance Cash Insurance Expense Cash Surrender Value of Life Insurance Prepaid Insurance 12,000 10,500 1,500 12,000 21,000 16,500 4,500 1,500 1,500 12,000 15-10 SOLUTIONS TO EXERCISES E15-1 1. 2010 Dec. 10 21 31 Investment in Trading Securities Cash (500 x $76) Investment in Trading Securities Cash (800 x $34) Investment in Trading Securities Unrealized Gain on Increase in Value of Trading Securities 38,000 27,200 700* 700 12/31/10 Fair Value $39,500 26,400 $65,900 Cumulative Change in Fair Value $1,500 (800) $ 700 38,000 27,200 *Security 500 shares of C Company common stock 800 shares of D Company common stock Totals 2. 3. E15-2 1. 2010 Oct. Nov. 26 26 Cost $38,000 27,200 $65,200 700 unrealized gain on increase in value of trading securities; reported on 2010 income statement. Current assets: Temporary investment in trading securities (at fair value) $65,900 Investment in Trading Securities Cash (300 x $35) Cash (200 x $25) Loss on Sale of Trading Securities Investment in Trading Sec urities Investment in Trading Securities Cash (400 x $41) Investment in Trading Securities Unrealized Gain on Increase in Value of Trading Securities 10,500 5,000 200 16,400 500* 10,500 5,200 16,400 Dec. 10 31 500 15-11 E15-2 (continued) 1. (continued) *Security 300 shares of F Company common stock 400 shares of G Company common stock Totals 2. 3.E15-3 2010 During the year Investment in Available-for-Sale Securities Cash (900 x $18) Investment in Available-for-Sale Securities Cash (800 x $22) Dec. 31 Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment 12/31/10 Fair Value $14,000 15,300 16,000 $45,300 Cost $10,500 16,400 $26,900 12/31/10 Fair Value $11,400 16,000 $27,400 Cumulative Change in Fair Value $ 900 (400) $ 500 $ (200) 500 $27,400 Loss on sale of trading securities Unrealized gain on increase in value of trading securities Current assets: Temporary investment in trading securities (at fair value) 16,200 16,200 17 ,600 17,600 1,500 1,500* Cumulative Change in Fair Value $(1,000) (900) (1,600) $(3,500) Security X Company common stock Y Company common stock Z Company common stock Totals Cost $15,000 16,200 17,600 $48,800 $1,500 credit adjustment = $3,500 required ending credit balance – $2,000 beginning credit balance 15-12 E15-3 (continued) Noncurrent assets: Investment in available-for-sale securities (at cost) Less: Allowance for change in value of investment Investment in available-for-sale securities (at fair value) Stockholders' equity: Accumulated Other Comprehensive Income: Unrealized decrease in value of available-for-sale securities E15-4 1. 2010 May 3 Investment in Available-for-Sale Securities Cash Cash Investment in Available-for-SaleSecurities Gain on Sale of Available-for-Sale Securities ($25,000 – $20,000) Unrealized Increase/Decrease in Value of Available-for-Sale Securities ($25,000 – $20,000) Allowance for Change in Value of Investment Cash Dividend Reven ue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities $48,800 (3,500) $45,300 $ (3,500) 13,500 25,000 13,500 July 16 20,000 5,000 16 5,000 5,000 800 800 Dec. 31 31 5,000* 5,000 12/31/10 Fair Value $32,000 15,500 $47,500 Cumulative Change in Fair Value $2,000 2,000 $4,000 *Security B Company common stock C Company common stock Totals Cost $30,000 13,500 $43,500 15-13 E15-4 (continued) 1. (continued) $5,000 debit adjustment = $4,000 required ending debit balance + $5,000 credit adjustment (7/16/10) – $4,000 beginning debit balance 2. $4,000 credit balance [$4,000 beginning credit balance – $5,000 debit adjustment (7/16/10) + $5,000 ending credit adjustment] E15-5 1. 010 June 8 Investment in Available-for-Sale Securities Cash Cash Loss on Sale of Available-for-Sale Securities ($35,400 – $37,000) Investment in Available-for-Sale Securities Allowance for Change in Value of Investment Unrealized Increase/ Decrease in Value of Available-for-Sale Securities Cash Dividend Revenue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 50,000 35,400 1,600 50,000 Oct. 11 37,000 2,800 2,800 900 900 Oct. 11 Dec. 31 31 400* 400 12/31/10 Fair Value $43,900 49,600 $93,500 Cumulative Change in Fair Value $1,900 (400) $1,500 *Security N Company common stock O Company common stock Totals Cost $42,000 50,000 $92,000 15-14 E15-5 (continued) 1. continued) $400 debit adjustment = $1,500 required ending debit balance – [$1,700 beginning credit balance – $2,800 debit adjustment (10/11/10)] $92,000 1,500 $93,500 2. Noncurrent assets: Investment in available-for-sale securities (at cost) Plus: Allowance for change in value of investment Investment in available-for-sale securities (at fair value) Stockholders' equity: Accumulated Other Comprehensive Income: Unrealized increase in value of available-for-sale securities $ 1,500 E15-6 1 . 2010 Mar. 31 Investment in Held-to-Maturity Debt Securities Interest Revenue ($400,000 x 0. 12 x 3/12) Cash Cash ($400,000 x 0. 12 x 6/12) Interest Revenue [($400,000 x 0. 2 x 6/12) – $600] Investment in Held-to-Maturity Debt Securities [($413,800 $400,000) x 3/69] Cash Interest Revenue ($24,000 – $1,200) Investment in Held-to-Maturity Debt Securities ($13,800 x 6/69) 413,800 12,000 24,000 23,400 600 24,000 22,800 1,200 425,800 June 30 Dec. 31 2. If the company failed to separately record the interest at acquisition, the interest revenue for 2010 would be overstated and the value of the held-tomaturity debt securities would also be overstated. Therefore, excess amortization would be recognized over the remaining life of the bond, resulting in an understatement of interest revenue. 15-15 E15-7 1. 2010 Jan. 1 Investment in Held-to-Maturity Debt Securities Cash Cash ($500,000 x 0. 09 x 6/12) Investment in Held-to-Maturity Debt Securities [($500,000 $483,841. 79) ? ] Int erest Revenue Cash Investment in Held-to-Maturity Debt Securities Interest Revenue Investment in Held-to-Maturity Debt Securities Cash Cash ($500,000 x 0. 09 x 6/12) Investment in Held-to-Maturity Debt Securities ($24,192. 09 – $22,500) Interest Revenue ($483,841. 79 x 0. 10 x 6/12) Cash Investment in Held-to-Maturity Debt Securities Interest Revenue [($483,841. 79 + $1,692. 09) x 0. 10 x 6/12] 483,841. 79 22,500. 00 2,019. 78 22,500. 00 2,019. 78 483,841. 79 June 30 24,519. 78 Dec. 31 24,519. 78 2. 2010 Jan. 1 483,841. 79 22,500. 00 1,692. 09 483,841. 79 June 30 24,192. 09 22,500. 00 1,776. 69 24,276. 69 Dec. 31 15-16 E15-8 2009 Nov. 1 Investment in Held-to-Maturity Debt Securities Cash 673,618. 61 673,618. 1 REID CORPORATION Bond Investment Interest Revenue and Discount Amortization Schedule (Partial) Effective Interest Method Cash Debita $35,000 35,000 x 0. 10 x ? carrying value x 0. 11 x ? from footnote b – amount from footnote a carrying value + amount from footno te c Cash Investment in Held-to-Maturity Debt Securities Interest Revenue Cash Investment in Held-to-Maturity Debt Securities Interest Revenue Cash Investment in Held-to-Maturity Debt Securities (from schedule) Gain on Sale of Debt Securities 35,000. 00 2,049. 02 35,000. 00 2,161. 72 700,000. 00 677,829. 35 22,170. 65 37,161. 72 37,049. 02 Interest Revenue Creditb $37,049. 02 37,161. 2 Investment in Debt Securities Debitc $2,049. 02 2,161. 72 Carrying Value of Debt Securitiesd $673,618. 61 675,667. 63 677,829. 35 Date 11/01/09 04/30/10 10/31/10 a$700,000 bPrevious cAmount dPrevious 2010 Apr. 30 Oct. 31 Nov. 1 15-17 E15-9 1. 2010 Jan. 1 Investment in Held-to-Maturity Debt Securities Cash 190,165. 35 190,165. 35 2. RODGERS COMPANY Bond Investment Interest Revenue and Discount Amortization Schedule Effective Interest Method Cash Debita $10,000 10,000 10,000 10,000 10,000 10,000 Interest Revenue Creditb $11,409. 92 11,494. 52 11,584. 19 11,679. 24 11,779. 99 11,886. 79 Investment in Deb t Securities Debitc $1,409. 92 1,494. 52 1,584. 19 1,679. 24 1,779. 99 1,886. 9 Carrying Value of Debt Securitiesd $190,165. 35 191,575. 27 193,069. 79 194,653. 98 196,333. 22 198,113. 21 200,000. 00 Date 01/01/10 06/30/10 12/31/10 06/30/11 12/31/11 06/30/12 12/31/12 a$200,000 bPrevious cAmount dPrevious (face value) x 0. 10 (face rate of interest) x ? (year) carrying value x 0. 12 (effective interest rate) x ? (year) from footnote b – amount from footnote a carrying value + amount from footnote c Cash Investment in Held-to-Maturity Debt Securities Interest Revenue Cash Investment in Held-to-Maturity Debt Securities Interest Revenue 10,000. 00 1,409. 92 11,409. 92 3. 2010 June 30 2012 June 30 10,000. 00 1,779. 99 11,779. 99 15-18 E15-10 1. 2010 Jan. Investment in Held-to-Maturity Debt Securities Cash LYNCH COMPANY Bond Investment Interest Revenue and Premium Amortization Schedule Effective Interest Method Cash Debita $3,250 3,250 3,250 3,250 3,250 3,250 Interest Revenue Credi tb $3,073. 76 3,063. 19 3,051. 98 3,040. 10 3,027. 50 3,014. 12e Investment in Debt Securities Creditc $176. 24 186. 81 198. 02 209. 90 222. 50 235. 88 Carrying Value of Debt Securitiesd $51,229. 35 51,053. 11 50,866. 30 50,668. 28 50,458. 38 50,235. 88 50,000. 00 51,229. 35 51,229. 35 2. Date 01/01/10 06/30/10 12/31/10 06/30/11 12/31/11 06/30/12 12/31/12 a$50,000 (face value) x 0. 13 (face rate of interest) x ? (year) carrying value x 0. 12 (effective interest rate) x ? year) from footnote a – amount from footnote b carrying value – amount from footnote c due to $0. 03 rounding error Cash Investment in Held-to-Maturity Debt Securities Interest Revenue Cash Investment in Held-to-Maturity Debt Securities Interest Revenue 3,250. 00 176. 24 3,073. 76 3,250. 00 235. 88 3,014. 12 bPrevious cAmount dPrevious eDifference 3. 2010 June 30 2012 Dec. 31 15-19 E15-11 2010 Jan. 1 Investment in Held-to-Maturity Debt Securities Cash 307,493. 34 307,493. 34 GLOVER CORPORATION Bond Inv estment Interest Revenue and Premium Amortization Schedule (Partial) Effective Interest Method Cash Debita $18,000 18,000 Interest Revenue Creditb $16,912. 13 16,852. 30 Investment in Debt Securities Creditc $1,087. 87 1,147. 0 Carrying Value of Debt Securitiesd $307,493. 34 306,405. 47 305,257. 77 Date 01/01/10 06/30/10 12/31/10 a$300,000 bPrevious cAmount dPrevious (face value) x 0. 12 x ? year carrying value x 0. 11 x ? year from footnote a – amount from footnote b carrying value – amount from footnote c Cash Interest Revenue Investment in Held-to-Maturity Debt Securities Cash Interest Revenue Investment in Held-to-Maturity Debt Securities Cash Loss on Sale of Debt Securities Investment in Held-to-Maturity Debt Securities (from schedule) 18,000 2010 June 30 16,912. 13 1,087. 87 Dec. 31 18,000 16,852. 30 1,147. 70 2011 Jan. 1 300,000. 00 5,257. 77 305,257. 77 15-20 E15-12 2010 Dec. 1 Cash ($100,000 x 0. 08) Interest Revenue ($107,023. 56 x 0. 07) Investment in Held-t o-Maturity Debt Securities ($8,000 $7,491. 65) Investment in Available-for-Sale Securities Investment in Held-to-Maturity Debt Securities ($107,023. 56 – $508. 35) Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment [$106,515. 21 ($100,000 x 1. 05)] 8,000 7,491. 65 508. 35 106,515. 21 106,515. 21 31 31 1,515. 21 1,515. 21 E15-13 1. June 1, 2010 Investment in Held-to-Maturity Debt Securities Cash 2011 Realized Loss on Decline in Value Investment in Held-to-Maturity Debt Securities 2012 No entry 2.Under IFRS, the company would make the same journal entries as in Requirement 1 for 2010 and 2011. In 2012, it would recognize the recovery of the impairment as follows: 2012 Investment in Held-to-Maturity Debt Securities Realized Loss Recovery on Increase in Value 3,000 10,000 10,000 4,000 4,000 3,000 15-21 E15-14 1. 2010 Jan. 1 Investment in Stock: Crowell Corporation Cash Cash ($50,000 x 0. 30) Investment in Stock: Crow ell Corporation Investment in Stock: Crowell Corporation Investment Income ($120,000 x 0. 30) Cash ($50,000 x 0. 30) Investment in Stock: Crowell Corporation Investment in Stock: Crowell Corporation Investment Income ($140,000 x 0. 30) 160,000 15,000 160,000 Mar. 31 5,000 36,000 36,000 15,000 15,000 42,000 42,000 June 30 Sept. 30 Dec. 31 2. Investment in Stock: Crowell Corporation Original investment $160,000 Share of 06/30 investment income 36,000 Share of 12/31 investment income 42,000 Balance, 12/31/10 $208,000 03/31 dividend 09/30 dividend $15,000 15,000 E15-15 2010 Jan. Dec. 1 31 31 31 Investment in Stock: North Company Cash Investment in Stock: North Company Investment Income ($45,000 x 0. 40) Investment Income ($15,000 ? 12 years) Investment in Stock: North Company Cash ($0. 70 x 8,000) Investment in Stock: North Company 15-22 144,000 18,000 1,250 5,600 144,000 18,000 1,250 5,600 E15-16 2010 Jan.During the year 1 Investment in Stock: Fink Company Cash (3,000 x $16) Investment in Stock: Fink Company Investment Income ($22,000 x 0. 30) Cash ($6,000 x 0. 30) Investment in Stock: Fink Company 31 Investment Income Investment in Stock: Fink Company a[($115,000 48,000 6,600 1,800 750a 48,000 6,600 1,800 750 Dec. – $90,000) x 0. 30] ? 10 years E15-17 2009 Jan. 1 Investment in Available-for-Sale Securities Cash 19,760 19,760 2011 July 1 Memorandum entry: On this date, the Taylor Corporation exchanged its investment in Kalanda Corporation 12% convertible bonds with a carrying value of $19,880a for 300 shares of Kalanda common stock with a fair value of $21,600.The cost per share is $66. 27 ($19,880 ? 300 shares). a$19,760 + (5 x $24*) *Amortization per period = $24 [($20,000 – $19,760) ? 10 periods] E15-18 2010 Mar. 2 Investment in Available-for-Sale Securities Cash 60,000 60,000 May 1 Memorandum entry: Received 1,000 (5,000 x 0. 20) additional shares of Foreman Company common stock as a stock dividend. The cost of the shares is now $10 per share as follows: $60,000 = $10 5,000 + (5,000 x 0. 20) 15-23 E15-18 (continued) 2011 Feb. 1 Cash (1,500 x $12) Investment in Available-for-Sale Securities (1,500 x $10) Gain on Sale of Investment in Available-for-Sale Securities 18,000 15,000 3,000 E15-19 2010 Jan. Dec. 31 Prepaid Insurance Cash Insurance Expense Cash Surrender Value of Life Insurance ($103,900 – $98,450) Prepaid Insurance Cash Gain on Death of Officer Cash Surrender Value of Life Insurance 13,300 7,850 5,450 13,300 13,300 2011 Jan. 1 50,000 43,520 6,480 E15-20 2010 Jan. Feb. July 1 3 30 Sinking Fund Cash Cash Sinking Fund Securities Sinking Fund Cash Sinking Fund Cash Loss on Sale of Sinking Fund Securities Sinking Fund Securities Sinking Fund Cash Sinking Fund Revenues Allowance for Change in Value of Sinking Fund Securities [$355,000 – ($400,000 – $48,000)] Unrealized Increase/Decrease in Value of Sinking Fund Securities 425,000 400,000 45,000 3,000 49,000 48,000 49,000 425,000 400,000 Dec. 31 31 3, 000 3,000 15-24 E15-20 (continued) 2011 Dec. 1 31 31 Sinking Fund Cash Sinking Fund Revenues Sinking Fund Expenses Sinking Fund Cash Sinking Fund Cash Sinking Fund Securities Gain on Sale of Sinking Fund Securities 40,000 4,500 360,000 40,000 4,500 352,000 8,000 31 Unrealized Increase/Decrease in Value of Sinking Fund Securities Allowance for Change in Value of Sinking Fund Securities 31 31 E15-21 Bonds Payable Sinking Fund Cash Cash Sinking Fund Cash 3,000 3,000 500,000 14,500 500,000 14,500 Note to Instructor: This interest rate swap is a fair value hedge. Original Bank Loan (not required) Cash Notes Payable Interest Payment on Loan: December 31, 2010 Interest Expense Cash a7% 3,000,000 3,000,000 210,000a 210,000 x $3 million Interest Rate Swap Payment: December 31, 2010 Cash Interest Expense b(7% 12,000b 12,000 – 6. 6%) x $3 million 15-25E15-21 (continued) Fair Values and Gains and Losses, December 31, 2010 Loss in Value of Derivative Liability from Interest Rate Swap cPre sent 53,497c 53,497 value = (8% – 7%) x $3,000,000 x 1. 783265 (n=2, i=0. 08 from Table 4 in the TVM Module) = $30,000 x 1. 783265 = $53,497 (rounded down to balance) A swap derivative loss and liability exist because the 8% current market rate is higher than the 7% fixed interest rate that Anglar receives on the derivative. Notes Payable Gain in Value of Debt dPresent 53,497d 53,497 value of principal = $3,000,000 x 0. 857339 (n=2, i=0. 08 from Table 3 in the TVM Module) = $2,572,017 = $210,000 x 1. 783265 (n=2, i=0. 08 from Table 4 in the TVM Module) = $374,486 = $2,572,017 + $374,486 = $2,946,503Present value of interest Total present value Decrease in value of debt = $3,000,000 – $2,946,503 = $53,497 The increase in interest rates decreases the value of note payable by the same amount as the increase in the value of the swap derivative liability. 15-26 E15-21 (continued) 2. Income Statement for Year Ending December 31, 2010 Other Items: Interest expense Loss in val ue of derivative Gain in value of debt e$210,000 $ (198,000)e (53,497) 53,497 – $12,000 Balance Sheet, December 31, 2010 Long-Term Liabilities: Notes payable Liability from interest rate swap f$3,000,000 – $53,497 $2,946,503f 53,497 $3,000,000 15-27 SOLUTIONS TO PROBLEMS P15-1 1. 2010 Nov. 19 29 Investment in Trading Securities Cash (200 x $86) Investment in Trading Securities Cash (300 x $63) Cash (100 x $89) Investment in Trading Securities (100 x $86) Gain on Sale of Trading Securities Investment in Trading Securities Cash (400 x $37) Cash (100 x $62) Loss on Sale of Trading Securities Investment in Trading Securities (100 x $63) Unrealized Loss on Decrease in Value of Trading Securities Investment in Trading Securities 17,200 18,900 8,900 8,600 300 14,800 6,200 100 6,300 200 14,800 17,200 18,900 Dec. 15 17 31 200* Cumulative Change in Fair Value $ 100 (400) 100 $(200) $ 300 (100) (200) $35,800 *Security 100 shares of M Company common stock 200 shares of P Company p referred stock 400 shares of T Company common stock Totals 2. Cost $ 8,600 12,600 14,800 $36,000 12/31/10 Fair Value $ 8,700 12,200 14,900 $35,800Gain on sale of trading securities Loss on sale of trading securities Unrealized loss on decrease in value of trading securities Current assets: Temporary investment in trading securities (at fair value) 3. 15-28 P15-2 1. 2010 July 2 14 Cash (100 x $1. 50) Dividend Revenue Cash (600 x $20) Loss on Sale of Trading Securities Investment in Trading Securities Investment in Trading Securities Cash (300 x $36) Cash (100 x $30) Investment in Trading Securities Gain on Sale of Trading Securities Investment in Trading Securities Cash (500 x $22) Unrealized Loss on Decrease in Value of Trading Securities Investment in Trading Securities 150 12,000 600 10,800 3,000 150 12,600 10,800 2,800 200 11,000 Aug. 9 24 Sept. 17 30 11,000 350 350* *Security 300 shares of P Company preferred stock 500 shares of U Company common stock Totals 2.Cost $10,800 11,00 0 $21,800 Cumulative 9/30/10 Change in Fair Value Fair Value $10,950 $ 150 10,500 (500) $21,450 $(350) $ 150 (600) 200 (350) $21,450 Dividend revenue Loss on sale of trading securities Gain on sale of trading securities Unrealized loss on decrease in value of trading securities Current assets: Temporary investment in trading securities (at fair value) 3. 15-29 P15-3 1. 2010 Mar. 31 Investment in Available-for-Sale Securities Interest Revenue ($10,000 x 0. 08 x 3/12) Cash Cash (200 x $30) Loss on Sale of Available-for-Sale Securities {200 x [$30 – ($23,100 ? 700)]} Investment in Available-for-Sale Securities [200 x ($23,100 ? 00)] Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities [200/700 x ($21,700 – $23,100)] Cash Interest Revenue ($10,000 x 0. 08 x 6/12) Cash (100 x $24) Investment in Available-for-Sale Securities [100 x ($8,400 ? 400)] Gain on Sale of Available-for-Sale Securities {100 x [$24 ($8,400 ? 400)]} Unrealized Increase/Decrease in Value of Available-for-Sale Securities [100/400 x ($9,400 – $8,400)] Allowance for Change in Value of Investment 10,000 200 10,200 May 17 6,000 600 6,600 400 17 400 400 400 2,400 2,100 300 June 30 Oct. 12 12 250 250 15-30 P15-3 (continued) 1. (continued) Dec. 31 Cash Interest Revenue ($10,000 x 0. 8 x 6/12) Dividend Revenue [(300 x $1) + (500 x $1. 50)] Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 1,450 400 1,050 550* 550 12/31/10 Fair Value $ 7,500 15,500 10,100 $33,100 Cumulative Change in Fair Value $1,200 (1,000) 100 $ 300 31 *Security 300 shares of I Company common stock 500 shares of O Company common stock $10,000 face value of U Company 8% bonds Totals $550 debit adjustment = Cost $ 6,300 16,500 10,000 $32,800 $300 required ending debit balance + [$400 beginning credit balance – $400 debit adjustment (5/17/10) + $250 credit adjustment (10/12/10)] $ 600 1 ,050 (600) 300 2.Interest revenue Dividend revenue Loss on sale of available-for-sale securities Gain on sale of available-for-sale securities Current assets: Temporary investment in available-for-sale securities (at cost) Plus: Allowance for change in value of investment Temporary investment in available-for-sale securities (at fair value) Noncurrent assets: Investment in available-for-sale securities (at cost) Less: Allowance for change in value of investment Investment in available-for-sale securities (at fair value) 3. $6,300 1,200 $7,500 $26,500 (900) $25,600 15-31 P15-3 (continued) 3. (continued) Stockholders' equity: Accumulated Other Comprehensive Income: Unrealized increase in value of available-for-sale securities 4. Holly would include a gain of $700 [the change in the unrealized increase/decrease on the portfolio from $(400) to $300]. $ 300 P15-4 1. 2010 Jan. Cash (400 x $45) Investment in Available-for-Sale Securities (400 x $43) Gain on Sale of Available-for-Sale Secur ities [(400 x $45) – $17,200] Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment (400 x $1) Investment in Available-for-Sale Securities Cash (700 x $45) Cash Dividend Revenue Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment 18,000 17,200 800 6 400 400 31,500 2,500 Feb. 3 31,500 2,500 Mar. 31 31 2,300 2,300* 15-32 P15-4 (continued) 1. (continued) 3/31/10 Fair Value $ 29,500 18,000 28,000 30,100 $105,600 Cumulative Change in Fair Value $ (500) 800 -(1,400) $ (1,100) Cost *Security 500 shares of Keene Company common stock $ 30,000 400 shares of Sachs, Inc. common stock 17,200 400 shares of Bacon Company common stock 28,000 700 shares of Jackson Corp. common stock 31,500 Totals $106,700 $2,300 credit adjustment $1,100 required ending credit balance + [$1,600a beginning debit balance – $400 credit adjustment (1/6/10)] a[800 x ($44 – $43)] + [400 x ($72 – $70)] Apr. 14 Investment in Available-for-Sale Securities Cash (300 x $52) Cash (400 x $42) Loss on Sale of Available-for-Sale Securities [(400 x $42) – $17,200] Investment in Available-for-Sale Securities Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment Cash Dividend Revenue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 15,600 16,800 400 17,200 15,600 May 11 11 800 800 2,800 2,800 June 30 30 2,600* 2,600 15-33 P15-4 (continued) 1. continued) 6/30/10 Fair Value $ 31,000 27,600 32,200 15,000 $105,800 Cumulative Change in Fair Value $ 1,000 (400) 700 (600) $ 700 Cost *Security 500 shares of Keene Company common stock $ 30,000 400 shares of Bacon Company common stock 28,000 700 shares of Jackson Corp. common stock 31,500 300 shares of Quinn Company common stock 15,600 Totals $105,100 $2,600 debit adjustment = $700 required ending debit balance + [$1,100 beginning credit balance + $800 credit adjustment (5/11/10)] $ 800 2,500 Second Quarter 2010 Loss on sale of securities $ (400) Dividend revenue 2,800 3/31/10 $47,200 300 $47,500 6/30/10 $30,000 1,000 $31,000 2. First Quarter 2010 Gain on sale of securities Dividend revenue 3.Assets Current assets: Temporary investment in available-for-sale securities (at cost) Plus: Allowance for change in value of investment Temporary investment in available-for-sale securities (at fair value) Noncurrent assets: Investment in available-for-sale securities (at cost) Less: Allowance for change in value of investment Investment in available-for-sale securities (at fair value) Stockholders' Equity Accumulated Other Comprehensive Income: Unrealized increase (decrease) in value of available-for-sale securities $59,500 (1,400) $58,100 $75,100 (300) $74,800 $ (1,100) $ 700 15-34 P15-5 1. 2010 Jan. Mar. 6 31 31 Cash Dividend Revenue Cash Dividend Revenue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 265 500 65 500 1,180* 1,180 Cumulative 3/31/10 Change in Fair Value Fair Value $13,470 $ (805) 13,765 1,115 18,940 1,490 15,500 (3,600) $61,675 $(1,800) *Security 400 shares of Turben Co. common stock 500 shares of Cook Corp. common stock 700 shares of Hill Corp. common stock 200 shares of Web Engines preferred stock Totals $1,180 debit adjustment June 30 30 Cost $14,275 12,650 17,450 19,100 $63,475 = $1,800 required ending credit balance – $2,980 ($63,475 – $60,495) beginning credit balance 1,075 1,075 Cash ($375 + $700) Dividend Revenue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 50* 450 6/30/10 Fair Value $13,300 14,125 19,300 15,400 $62,125 Cumulative Change in Fair Value $ (975) 1,475 1,850 (3,700) $(1,350) *Security 400 shares of Turben Co. common stock 500 shares of Cook Corp. common stock 700 shares of Hill Corp. common stock 200 shares of Web Engines preferred stock Totals Cost $14,275 12,650 17,450 19,100 $63,475 15-35 P15-5 (continued) 1. (continued) $450 debit adjustment = July 6 $1,350 required ending credit balance – $1,800 beginning credit balance 13,750 525 14,275 975 975 500 500 Cash Loss on Sale of Available-for-Sale Securities ($13,750 – $14,275) Investment in Available-for-Sale Securities Allowance for Change in Value ofInvestment Unrealized Increase/Decrease in Value of Available-for-Sale Securities Cash Dividend Revenue Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 6 Sept. 29 30 805* 805 Cumulative 9/30/10 Change in Fair Value Fair Value $14,230 $ 1,580 19,500 2,050 15,900 (3,200) $49,630 $ 430 *Security 500 shares of Cook Corp. common stock 700 shares of Hill Corp. common stock 200 shares of Web Engines preferred stock Totals $805 debit adjustment = Cost $12,650 17,450 19,100 $49, 200 $430 required ending debit balance + [$1,350 beginning credit balance – $975 debit adjustment (7/6/10)] 19,780 17,450 2,330 Nov. 2 Cash Investment in Available-for-Sale Securities Gain on Sale of Available-for-Sale Securities ($19,780 – $17,450) 15-36 P15-5 (continued) 1. (continued) Nov. Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment Cash Dividend Revenue Allowance for Increase/Decrease in Value of Available-for-Sale Securities Unrealized Change in Value of Investment 2,050 2,050 375 375 Dec. 30 31 550* 550 Cumulative 12/31/10 Change in Fair Value Fair Value $14,280 $ 1,630 16,400 (2,700) $30,680 $(1,070) *Security 500 shares of Cook Corp. common stock 200 shares of Web Engines preferred stock Totals $550 debit adjustment = Cost $12,650 19,100 $31,750 $1,070 required ending credit balance + [$430 beginning debit balance – $2,050 credit adjustment (11/2/10)] March 31 $765a –For Quarte r Ended June 30 Sept. 30 $1,075b $500 – 525 – – Dec. 31 $ 375 – 2,330 2. Dividend revenue Loss on sale of securities Gain on sale of securities a$265 b$375 + $500 + $700 15-37 P15-5 (continued) 3.Current assets: Temporary investment in available-for-sale securities (at cost) Plus (Less): Allowance for change in value of investment Temporary investment in available-for-sale securities (at fair value) March 31 Balance Sheet as of June 30 Sept. 30 Dec. 31 $63,475 (1,800) $61,675 $63,475 (1,350) $62,125 $49,200 430 $49,630 $31,750 (1,070) $30,680 Stockholders' equity: Accumulated Other Comprehensive Income: Unrealized increase(decrease) in value of available-forsale securities $ (1,800) $ (1,350) P15-6 1. 2010 Jan. 1 Investment in Available-for-Sale Securities Cash ($30,000 x 0. 97) Investment in Available-for-Sale Securities Cash ($40,000 x 1. 01) Cash ($30,000 x 0. 08 x 1/2) Investment in Available-for-Sale Securities Interest Revenue ($29,100 x 0. 0 x 1/2) Cash ($40,000 x 0. 10 x 1/2) Investment in Available-for-Sale Securities Interest Revenue ($40,400 x 0. 098 x 1/2) $ 430 $ (1,070) 29,100 29,100 1 40,400 1,200 255 40,400 June 30 1,455 2,000 20 1,980 30 15-38 P15-6 (continued) 1. (continued) June 30 Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 225* 225 Cumulative Change in Fair Value $ (195) 420 $ 225 *Security $30,000 face value of Bradford Co. bonds $40,000 face value of Morris Co. bonds Totals a$29,100 b$40,400 c$30,000 d$40,000 Amortized 6/30/10 Cost Fair Value a $29,160c $29,355 b 40,800d 40,380 $69,960 $69,735 ost + $255 amortization of discount cost – $20 amortization of premium x 0. 972 x 1. 02 1 Investment in Available-for-Sale Securities Cash ($25,000 x 0. 92) Interest Receivable ($25,000 x 0. 11 x 5/12) Investment in Available-for-Sale Securities Interest Revenue ($23,000 x 0. 12 x 5/12) Cash [($25,000 x 0. 91) + $1,146] Loss on Sale of Availabl e-for-Sale Securities Investment in Available-for-Sale Securities Interest Receivable 23,000 July 23,000 Nov. 30 1,146 4 1,150 23,896 254* 23,004 1,146 30 *$23,004 carrying value ($23,000 cost + $4 amortization of discount) $22,750 proceeds (excluding interest) 15-39 P15-6 (continued) 1. (continued) Dec. 31 Cash ($30,000 x 0. 8 x 1/2) Investment in Available-for-Sale Securities Interest Revenue ($29,355 x 0. 10 x 1/2) Cash ($40,000 x 0. 10 x 1/2) Investment in Available-for-Sale Securities Interest Revenue ($40,380 x 0. 098 x 1/2) Cash ($40,000 x 1. 02) Investment in Available-for-Sale Securities ($40,380 – $21) Gain on Sale of Available-for-Sale Securities ($40,800 – $40,359) Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment (from 6/30/10 schedule) Unrealized Increase/Decrease in Value of Available-for-Sale Securities Allowance for Change in Value of Investment 1,200 268 1,468 2,000 21 1,979 40,800 40,35 9 441 31 31 31 420 420 31 28 628* 12/31/10 Fair Value $28,800b $28,800 Cumulative Change in Fair Value $(823) $(823) *Security $30,000 face value of Bradford Co. bonds Totals a$29,355 b$30,000 Cost $29,623a $29,623 amortized cost (6/30/10) + $268 amortization of discount x 0. 96 = $823 required ending credit balance + [$225 beginning (6/30/10) debit balance – $420 credit adjustment (12/31/10)] $628 credit adjustment 15-40 P15-6 (continued) 2. Interest revenue Loss on sale of securities Gain on sale of securities a$1,455 b$1,150 For Semiannual Period Ended 12/31/10 6/30/10 a $4,597b $3,435 – (254) – 441 + $1,980 + $1,468 + $1,979 Balance Sheet As of 06/30/10 12/31/10 $69,753 225 $69,960 $29,623 (823) $28,800 3.Current assets: Temporary investment in available-for-sale securities (at amortized cost) Plus (Less): Allowance for change in value of investment Temporary investment in available-for-sale securities (at fair value) Stockholders' equity: Accumulated Other Comprehensive Income: Unrealized increase (decrease) in value of available-for-sale securities $225 $(823) P15-7 1. 2010 Feb. 3 Investment in Available-for-Sale Securities Cash (3,000 x $12) Investment in Available-for-Sale Securities Interest Revenue ($20,000 x 0. 12 x 3/12) Cash Cash Interest Revenue ($20,000 x 0. 12 x 6/12) Dividend Revenue (3,000 x $0. 25) 36,000 36,000 Apr. 1 20,000 600 1,950 1,200 750 20,600 June 30 15-41 P15-7 (continued) 1. (continued) Sept. 1 Investment in Available-for-Sale Securities Cash (4,000 x $22) Investment in Available-for-Sale Securities Interest Revenue ($30,000 x 0. 11 x 5/12) Cash Cash Interest Revenue ($30,000 x 0. 11 x 6/12) Cash ($30,000 x 1. 1) Investment in Available-for-Sale Securities Gain on Sale of Available-for-Sale Securities ($30,300 – $30,000) Cash Dividend Revenue (3,000 x $0. 25) Cash Loss on Sale of Available-for-Sale Securities ($35,300 – $36,000) Investment in Available-for-Sale Securities Cash Interest Revenue ( $20,000 x 0. 12 x 6/12) Allowance for Change in Value of Investment Unrealized Increase/Decrease in Value of Available-for-Sale Securities 88,000 88,000 Nov. 1 30,000 1,375 1,650 1,650 30,300 30,000 300 750 35,300 700 36,000 1,200 1,200 4,200* 4,200 750 31,375 Dec. 1 1 30 30 31 31 15-42 P15-7 (continued) 1. (continued) Cost *Security $20,000 face value of Solomon Co. bonds $ 20,000 4,000 shares of Woodman Corp. ommon stock 88,000 Totals $108,000 a$20,000 b4,000 Cumulative 12/31/10 Change in Fair Value Fair Value $ 200 $ 20,200a 92,000b 4,000 $112,200 $4,200 x 1. 01 x $23 $2,075 (-$600+$1,200-$1,375+$1,650+$1,200) 1,500 ($750+$750) 300 (700) 2. Interest revenue Dividend revenue Gain on sale of securities Loss on sale of securities 3. Current assets: Temporary investment in available-for-sale securities (at cost) Plus: Allowance for change in value of investment Temporary investment in available-for-sale securities (at fair value) $108,000 4,200 $112,200 P15-8 Note to Instructor: This problem contains petty cash journal entries and a bank reconciliation, previously covered in Chapter 7. 1. 2010 Jan. Investment in Available-for-Sale Securities [(150 x $20) + (200 x $30) + (100 x $25)] Cash Investment in Available-for-Sale Securities ($20,000 + $12,000) Interest Revenue [($20,000 x 0. 12 x 5/12) + ($12,000 x 0. 10 x 4/12)] Cash Petty Cash Cash 11,500 11,500 Feb. 1 32,000 1,400 500 33,400 500 1 15-43 P15-8 (continued) 1. (continued) Feb. 28 Cash Interest Revenue [$20,000 x 0. 12 x 6/12] Postage Expense Office Supplies Expense Transportation Expense Miscellaneous Expense Cash Cash Short and Over Cash a$125. 50 1,200 1,200 110. 00 170. 65 45. 00 43. 50 5. 35a 28 369. 15 5. 35 28 – ($500. 00 – $369. 15) 2,100 200 1,500 800 Mar. 31 Cash ($1,500 + $600) Interest Receivable ($20,000 x 0. 12 x 1/12; A Co. bonds) Dividend Revenue Interest Revenue [($12,000 x 0. 0 x 6/12) + ($20,000 x 0. 12 x 1/12)] Unrealized Increase/Decrease in Value of Available-for-Sale S ecurities Allowance for Change in Value of Investment b$42,600 31 900 900b – ($11,500 + $32,000) 140. 00 75. 30 54. 20 31 Postage Expense Office Supplies Expense Miscellaneous Expense Cash 269. 50 15-44 P15-8 2. (continued) PAYNE CORPORATION Bank Reconciliation March 31, 2010 Balance per bank statement Add: Deposits in transit Deduct: Outstanding checks Adjusted cash balance Balance per company records Add: Note collected by bank Interest on note Deduct: Bank service charge NSF check returned Adjusted cash balance 3. 2010 Mar. 31 Cash Notes Receivable Interest Revenue