The Clifford Ball :: essays research papers

The Clifford Ball The Ball, the ball, the ball. The Clifford Ball 1996, the greatest musical performance I've ever witnessed, a time I'll never forget. "Where the fuck is Plattsburg, New York?" That was the main concern on a warm summer afternoon, as we began to pack up the car for a trip that will remain crisp in my mind better then vacation I've ever been on. It was Tom, Tim, Joe, Beau, Tom' brother Steve, Alex who flew in from Wisconsin, Tim's brother Sean and myself Tony. The weather couldn't been better, the mood...excitement, joy, and a little nervousness. After all it was my first Phish show, and Tom was the only other one out of us all who had seen a Phish show. I had always liked phish, but I was always reluctant to get tix for a show, I figured I could wait till they came to Giant Stadium, or The Meadowlands. One day I decided â€Å" What the hell!!† Plattsburg was a good 6 hours up I-87 from quiet River Vale, New Jersey. So we spent most of the afternoon at Shop-rite, Campmor, and Ramsey outdoor. We had sleeping bags, coolers of beer, soda, food, and more beer, tents, stoves, lanterns, bug torches, and clothes. At around 12 midnite Friday morning we hit the road and embarked, on what would be a scared trip. Tom drove the van with his brother and myself. Tim in his red Festiva with Joe and Sean, and Beau in his blue Festiva with Alex. Stopping only to piss and re-fuel, we busted up to Plattsburg, arriving around 6am. It was amazing to see all the VW Westvalias up I-87 with Steal you Face, and dancing bear stickers. Once arriving, we picked a spot to set camp (out of the Wetlands of course) We followed the lead of crickets bouncing gently round room to a nice spot. Close to the potable water, yet far enough from the rank smell of port-a-jons. Then we got some needed sleep. We woke up around 1pm and I opened my eyes to my suprise...100,000 other people arrived while we were asleep!!! Didn't bother me, the more the merry. It was really strange. Once I stepped out of the tent, I think I left something behind. I didn't have a care in the world. I forgot about my job, my house, my life back home. I WAS AT A PHISH SHOW, that's all that mattered. Yeah, in an ordinary situation, the crickets would have bothered me. I liked um. The real freaky people that lived off acid and trying to get that one miracle would

Chapter 4 : Account Titles and Preparation of Financial Statements

Chapter 4 : Account Titles and Preparation of Financial Statements| Article 14 : The balance sheet items shallbe categorized as follows: 1. Assets. (1) Current assets. (2) Funds and long-term investments. (3) Property, plant and equipment. (4) Depletable assets. (5) Intangible assets. (6) Other assets. 2.Liabilities. Article 15 : Current assets mean unrestricted cash and cash equivalent, short-term investments, and other assets that are convertible to cash or expended within one year. Categorization and evaluation of current asset titles along with required explanatory notes are as follows: 1.Cash and Cash equivalent: cash on hand, deposits with banks, cash for revolving use, petty cash, and short-term and highly liquid investment that can be converted into a fixed amount of cash with interest fluctuation having small impact thereon, excluding those already set aside for use or restricted by law or contract; the account nature and required notes are as follows: (1) Non-demand-deposit s with maturity over a year shall be specified. 2) Time deposits (including negotiable certificates of deposit) shall be reclassified as other assets if provided as lien for a long-term liability or as other current liabilities if provided as lien for a current liability, and shall be specified in the notes for the fact of collateralization.Refundable deposit shallbe classified as a current or other asset by the long- or short-term nature, and shall be specified in the notes. (3) Compensating balances shall be classified as current assets if arising from short-term loans, or reclassified as other assets or long-term investments if arising from long-term liabilities. 2.Short-term investment: defined as investment that is short-term; the nature of titles and evaluation thereof and the required explanatory notes are as follows: (1) Financial asset with change in fair value being recorded as gains or losses and financial asset available for sale shall be valued using the fair value on t he balance sheet date; the fair value of listed or OTC stock and depository receipts indicate the closing price on the balance sheet date. 2) Financial assets which need to be sold within a short period of time, thus changing in fair value and incurring a gain or loss, must be reflected in the financial assets records or when determining how to measure the gains or losses, you decided on using fair value to reflect these changes in fair value, these figures must also be reflected in your financial asset records. 3) Financial asset available for sale shall mean the non-derivative financial assets other than the financial assets with change in fair value being recorded into gains or losses, which financial assets are to be held until the date of expiry. 4) Short-term investments provided as a lien, collateral or refundable deposit shall be recorded as a short-term investment if the liability for such an investment is provided as a guarantee; if a short-term investment is provided as a guarantee for a long-term liability, such investments shallbe recorded as long-term investments. Facts regarding the guaranteeshall be specified in either case. 3.Hedging financial assets: defined as the financial assets set up in hedging accounting, which are used as effective hedging tools, shall be measured by fair value and divided into current and non-current according to the liquidity of the items to be hedged; non-current hedging financial liabilities shall be recorded as hedging financial liabilities under other assets. 4. Notes Receivable: defined as various notes which are collected by the business entity.The accounting nature, valuation and required notes are as follows: (1) Shall be valued at the present value, or may be valued at the face value if maturing within one year. (2) Notes receivable that were discounted or transferred to others shall be deducted and specified. (3) Notes receivable arising from operations shall be presented separately from those not arising f rom operations. 4) Large-sum notes receivable from related persons shall be presented individually. (5) Notes receivable that are provided as collateral shall be specified in the notes. (6) Notes receivable determined to be uncollectible shall be written off. (7) Notes receivable shall be valued at closing for the uncollectible amount, and any allowance for the uncollectible amount shall be properly provided and presented as the contra account of the notes receivable. 5.Accounts Receivable: defined as the claim of the business entity arising from selling goods or services; the accounting nature, valuation and required notes are as follows: (1) Shall be valued at the present value or may be valued at the book value if maturing within one year. (2) Large-sum accounts receivable from related persons shall be presented individually. (3) Unrealized interest revenues from installment sales shall be presented as the contra account of the accounts receivable. 4) Accounts receivable to be co llected over one year, shall be specified in the notes for the amount of expected collection of each year. (5) â€Å"Designated Collateralized Accounts Receivable† shall be disclosed in the notes. (6) Accounts receivable that includes receivables from a long-term construction contract shall be presented and specified in the notes for the reserved portion that has been billed as it pertains to the construction account.Where the expected collection of the reserved amount runs past one year, the expected amount of collection for each year shall be specified in the notes. (7) Accounts receivable determined as uncollectible shall be written off. (8) Accounts receivable shall be valued at closing for the uncollected amount, and an allowance for the uncollectible amount shall be properly provided and presented as the contra account of the accounts receivable. . Other Receivables: defined as the receivables that do not belong to the categories of receivables in the preceding paragrap h; the account nature, valuation and required notes are as follows: (1) Other receivables exceeding five percent of the sum of current assets shall be presented separately by nature or object. 2) Other receivables shall be valued at closing for the uncollected amount, and an allowance for the uncollected amount shall be properly provided and presented as the contra account of the receivables. Where the receivables are classified greater detail, , the allowance account shall also be presented accordingly. 7.Inventories: defined as merchandise or goods, either finished goods or by-products for sale in normal operations along with goods that are work-in-process to be sold upon completion, or raw materials or supplies used directly or indirectly in the production of goods (or services) for sale; the account nature, valuation and required notes are as follows: (1) Inventories shall be valued using the lower of cost or market price method. 2) Inventories with defect, damage or obsolescenc e causing an obvious decline in value shall be valued based on the net realizable value. (3) Inventories that are provided as lien or guarantee, whose usage is supervised by creditors, etc. shall be specified. 8. Prepayments: defined as various costs and expenses prepaid.With exception for funds required by contract for the purchase of fixed assets and construction funds for unfinished construction funds, which should both be categorized as fixed assets. 9. Other Current Assets: defined as current assets that do not belong to the previous seven categories of current assets. However, any of the previous categories of current assets, with the exception of cash, not exceeding five percent of the sum of current assets may be merged into other current assets. Article 16 : Funds and long-term investments are defined as the various funds set aside for operational purposes and long-term investments used by the business for special purposes; the account categories, valuation and required not es are as follows: 1. Funds: defined as assets provided for special purposes, including sinking funds, improvement and expansion funds, contingency loss funds and other related mutual funds. The resolution and implementation method on which appropriation of the funds is based shall be specified. 2.Long-term Investments: defined as investments of a long-term nature, such as investment in other enterprises, purchases of long-term bonds or investments in real estate or other related investments; the account nature, valuation and required notes are as follows: (1) Long-term investments shall be specified for the valuation basis and shall be presented separately by nature. (2) The accounting handling of long-term equity investments valued by equity method shall follow the provisions of the Statement of Financial Accounting Standards No. announced by the Accounting Research and Development Foundation of the Republic of China (hereinafter referred to as the â€Å"Statement of Financial Ac counting Standards†). (3) The accounting handling of long-term equity investments not valued by the equity method shall follow the provisions outlined in the Statement of Financial Accounting Standards No. 34. (4) Long-term investments that are provided as lien or subject to restrictions, limitations, etc. hall be specified. (5) Long-term equity investments measured by cost means those who possess the following securities without material impact or the derivative products moving along with such securities and deliver through such securities: 1. Equity securities that are not traded at the stock exchange or not traded over the OTC. 2. Emerging stock. (6) Financial assets in held-to-maturity: defined as non-derivative financial asset with fixed or determined collection amounts and date of expiry, which business have aggressive intent and capability to hold until the date of expiry. Bond investments which are held until the date of expiry shall be measured by amortized cost; inve stments held until the date of expiry that expire within one year shall be recorded as a current asset. (7) Bond investments measured by amortized cost: defined as bond investment without the open quote of active market with fixed or determined collectable amount that meet the following conditions: 1.Not destined to be measured by fair value and the change of fair value being recorded as gains and losses. 2. Not destined to be available for sale. | Article 17 : Fixed assets defined as tangible assets which are provided for use in operations, not intended for sale, and used for more than one year; the account categories, valuation and required notes are as follows: 1.Land: defined as land or permanent land improvements used in operations; its valuation includes acquisition costs, land improvements of a permanent nature and increases in value from revaluation, etc. The estimated reserve provided for land value increment tax on the increase in value from revaluation shall be classified as a long-term liability.Land that is temporarily registered under the name of others, rather than that of the business entity itself, due to legal restrictions shall be disclosed in the notes and all safeguarding measures shall be specified. 2. Buildings: defined as self-owned building and structures and other accessory facilities; the valuation includes acquisition costs of the building and structures, capitalized expenditures after acquisition that extend the useful life or ervice potential of the asset, and increases in value from revaluation. 3. Machinery and Equipment: defined as self-owned machinery or shall be valued at cost and may be classified as fixed assets or intangible assets. Leasehold improvements must be depreciated or amortized reasonably and systematically without interruption based on its durable lifespan or lease term, depending which one comes first, then they can be transferred as a compensation in a rational and systemic method or share its cost. . Miscella neous Fixed Assets: defined as the assets that do not belong to the previous five categories; the valuation includes acquisition costs and capitalized expenditures prior to acquisition which extend the useful life or service potential of the asset, thus increasing in value from revaluation. 7.Construction in Progress and Prepayment for Equipment: defined as construction operations that are in process or installations that are unfinished along with prepayments for purchases of fixed assets to be used in operations The valuation includes the costs incurred during the process of construction and installation. Fixed assets should be specified for the valuation basis and, if revalued, the date of revaluation and the amount of increase or decrease must also be specified.With the exception of land, other fixed assets, upon reaching an useable condition, shall be depreciated reasonably and systematically during each period without interruption with the depreciation method specified, and the depreciation shall be transferred by nature to expenses or indirect manufacturing costs of each period; the accumulated depreciation shall be presented as the contra account of the fixed asset. Fixed assets with no operation value shall e regarded as other assets below the net realizable value or book value. The cost and accumulated depreciation of the assets that have no net realizable value must be written off and the difference shall be recognized as a loss. A fixed asset that is still in use after its service life shall be depreciated based on the salvage value. Fixed assets that are provided as guarantee, mortgage, collateral, etc. shall be specified. Article 18 : Depletable assets are defined as natural resources whose value decreases after extraction, cutting or other means of alteration; the account valuation and required notes are as follows: 1. Depletable assets shall be recorded according to the exact cost of acquisition, exploration and development. 2. Depletable assets should be specified for the valuation basis and, if revalued, the date of revaluation and the amount of increase should be specified. . Depletable assets shall be depleted reasonably and systematically each period without interruption within the estimated extraction or useful life with the depletion method specified. The depletion shall be transferred to inventories or cost of goods sold. The accumulated depletion shall be presented as the contra account of the depletable asset. 4. Depletable assets that are provided as guarantee, mortgage, collateral, etc. shall be specified. Article 19 : Intangible assets are defined as assets of economic value but without physical existence; the account categories, valuation and required notes are as follows: 1. Trademarks: defined as trademarks that are legally acquired or purchased; the valuation thereof shall use the unamortized cost. 2. Patents: defined as patents that are legally acquired or purchased; the valuation thereof shall use the un amortized cost. 3. Copyright: defined as the rights to publish, sell or perform the original or translated work of literature, art, academe, music, movie, etc. the valuation thereof shall use the unamortized cost. 4. Computer Software: defined as computer software purchased or developed for sale, rented or marketed by other means; the valuation thereof shall use the unamortized portion of costs of purchase or costs incurred from the establishment of technological feasibility to the production of product masters. The costs incurred prior to the establishment of technological feasibility shall be expensed as research and development costs. . Goodwill: defined as the goodwill acquired at a given price; the depreciation test shall be conducted annually. Recognized goodwill impairmen cannot be reversed. 6. Organization Costs: defined as the necessary costs incurred for organizing a business entity during its startup period. Organization costs shall be valued at the unamortized cost. Self -developed intangible assets that cannot be clearly identified, as goodwill, shall not be recognized as assets.Research expenditures and development expenditures, with the exception of commissioned research where the costs can be totally recovered according to contract, must be regarded as an incurred expense. However, development expenditure meeting the following requirement can be capitalized; the amount of capitalization cannot exceed the estimated present net income value on future recovery, the present value for estimated future income post subtraction of recurring research, development expenditure, production cost and marketing expenses: 1.Technical viability has been made possible to complete such intangible asset. 2. Business entities intend complete such intangible asset and put it out for use or sale. 3. Business entities are capable of using or selling such intangible asset. 4. There exists a specific market encompassing intangible assets or its products; such intangible asset for internal use shall possess useful qualities. 5.Business entities have sufficient technology, finance and other resources to complete such development project and use or sell such intangible asset. 6. Expenditures that are regarded as such intangible asset during the development period can be reliably measured. Intangible assets shall be specified for the valuation basis; those whose duration of economic benefit can be reasonably estimated shall be reasonably and systemically amortized over the years of useful life. The length of amortization and method of calculation shall be specified.Intangible assets without clear economic benefit cannot be amortized. | Article 20 : Other assets are defined as assets that do not belong to the previous five categories of assets and whose collection or liquidation extends over one year; the account categories, valuation and required notes are as follows: 1. Assets Leased to Others: defined as the self-owned assets that are leased to other s by a business entity whose main business is not investment or leasing. . Idle Assets: defined as assets that are currently not being used in operations. Idle assets shall be valued at the net realizable value. 3. Refundable Deposit: defined as the cash or other assets provided to others for the purpose of guarantee. 4. Long-term Notes, Accounts and Overdue Receivables: defined as the notes, accounts and overdue receivables whose date of collection has ran over one year.Long-term notes and account receivables shall be valued at the present value and overdue receivables shall be valued at the net realizable value. 5. Deferred Assets: defined as the incurred expenses whose benefits last for more than one year, which must be borne by future periods. Deferred assets shall be valued at the unamortized cost. 6. Miscellaneous Assets: defined as other assets that do not belong to the previous five categories of other assets.Overdue receivables of a material amount shall be presented indivi dually, overdue occurrences must be stated specifically including reason and amount of uncollectible allowance provided. Other assets exceeding five percent of the sum of total assets shallbe separately presented by nature. | Article 21 : Current liabilities are regarded as liabilities that are to be settled by use of current assets or other current liabilities within one year. The account categories, valuation and required notes for current liabilities are as follows: 1.Short-term Borrowings: defined as the sum of money that is borrowed or is an overdraft from a financial institution or another party and is to be repaid within one year or one operating cycle; the valuation and required notes are as follows: (1) Shall be valued at the present value. (2) Shall be specified by type or nature, guarantee situation and interest rate range of the borrowings, and, if collateral is provided, the name and book value of the collateral. 3) Borrowings from financial institutions, owners, employ ees, related persons, and other persons or institutions shall be separately specified. 2. Short-term Notes and Bills Payable: defined as the short-term notes and bills issued through a commissioned financial institution for the purpose of obtaining funds from the money market, including commercial paper payable and bank acceptances, etc. the valuation and required notes are as follows: (1) Shall be valued at the present value; discounts on short-term notes and bills payable shall be presented as the contra account on the short-term notes and bills payable. (2) Shall be specified for the guarantee, institution of acceptance and interest rate, and if collateral is provided, the name and book value of the collateral. 3.Other Financial Liabilities: defined as liabilities meeting one of the following conditions: (1) financial liabilities at fair value according to the income statement should be recorded as gains and losses indicating the financial liabilities to be bought back within a s hort period of time or financial liabilities assigned to be measured by fair value at original recording with change in fair value being recorded as profit and loss. 2) Hedging Financial Liabilities: defined as the financial liabilities destined by hedge accounting which are effective hedging tools, and shall be measured by fair value and divided into current and non-current according to the liquidity of the items to be hedged; non-current hedging financial liabilities shall be recorded as hedging financial liabilities under other liabilities. 4.Notes Payables: defined as the various notes payable by the business entity; the valuation and required notes are as follows: (1) Notes payables shall be valued at the present value, or may be valued at the face value if due within one year. (2) Notes payables arising from operations shall be separately presented from those not arising from operations. (3) Notes payable of a material amount to related parties shall be presented individually. 4) Notes payable with collateral provided shall be specified for the name and book value of the collateral. (5) Notes payable that are used as security and can be recovered for cancellation at the termination of guarantee responsibility may not be presented as current liabilities, but shall be specified in the notes to financial statements for the nature and amount of the guarantee. 5.Accounts Payable: defined as the various accounts payable by the business entity; the valuation and required notes are as follows: (1) Shall be valued at the present value, or may be valued at the book value if due within one year. (2) Accounts payable arising from operations shall be separately presented from those not arising from operations. (3) Accounts payable of a material amount to related parties shall be presented individually. 4) Accounts payable with collateral provided shall be specified for the name and book value of the collateral. 6. Income Tax Payables: defined as the estimated income tax to be paid based on the taxable income. 7. Other Payables: defined as any of the payables that do not belong to the previous categories of payables, such as other tax payables, salary payables, etc. ; the valuation and required notes are as follows: (1) Shall be valued at the present value, or may be valued at the book value if due within one year. 2) Dividend and bonus payables whose appropriation method and expected payment date are determined must be disclosed. (3) If paid amount exceeds 5% of total current liabilities, records must indict the nature of the transaction or the parties involved in the transaction. 8. Advance Receipts: defined as various sums of money received in advance. Advance receipts shall be presented separately by major category with special contract items specified. 9.Other Current Liabilities: defined as current liabilities that do not belong to the previous eight categories. However, any of the previous eight categories of current liabilities not excee ding five percent of the sum of total current liabilities may be merged into other current liabilities. | Article 22 : Long-term liabilities mean liabilities whose payment deadline exceeds one year or one operating cycle, whichever is the longer; the account categories, valuation and required notes are as follows: 1.Corporate Bonds Payable: defined as debentures issued by an issuer; the valuation and required notes are as follows: (1) Company bonds shall be valued at the face value adjusted for the unamortized premium and discount; the premium and discount shall be reasonably and systematically amortized as the adjustment of interest expense over the periods where the bonds are outstanding. 2) The approved total amount, interest rate, maturity date, name of the collateral, book value, place of issue and other covenants of bonds issued shall be specified in the note. (3) Where the bonds issued are convertible bonds, the conversion method and the amount already converted shall be spec ified. 2. Long-term Loans Payable: defined as the loans payable whose repayment deadlines is xceeds one year; the valuation and required notes are as follows: (1) shall be valued at the present value. (2) The content, maturity date, interest rate, name of the collateral, book value and other covenants of shall be specified. Where the repayment of long-term loans payable is denominated at a foreign currency or is based on a foreign currency exchange rate, the name and amount of the foreign currency shall be specified. 3) Long-term borrowings from owners, employees or related persons shall be separately specified. 3. Long-term notes and accounts payable: Mean the notes payables, accounts payables, etc. whose payment deadline exceeds one year. Long-term notes payable and other long-term accounts payables shall be valued at the present value. 4. Preferred stock liability: defined as the issuance of preferred stock of the nature of financial liability in compliance with No. 6 Bulletin of the Financial Accounting Standard. | Article 23 : Other liabilities are liabilities that cannot be classified as current or long-term liabilities; the account categories are as follows: 1. Deferred Liabilities: defined as deferred revenues, deferred income tax liabilities, etc. 2. Deposits Received: defined as the cash or other assets received from customers for the purpose of assurance. 3.Miscellaneous Liabilities: defined as other liabilities that do not belong to the previous two categories. Other liabilities exceeding five percent of the sum of total liabilities shall be presented separately by nature. | Article 24 : Capital defined as the capital brought into the business entity by the o wner and registered with a competent authority; however it does not include preferred stock of liability nature; the items that shall be specified in the notes are as follows: 1.The kinds of capital, face value per share, number of shares authorized, number of shares issued and special conditi ons shall be specified. 2. Convertible preferred stock and global depository receipts shall be specified for the place of issue, method of issue and conversion, amount already converted and special conditions. | Article 26 : Retained earnings or deficit meaning the equity resulting from business operations; the account categories are as follows: 1.Legal Reserve: defined as the reserve appropriated from earnings according to Company Law or other related regulations. 2. Special Reserve: defined as the reserve appropriated from earnings according to regulations or the resolution of earnings distribution for the purpose of restricting the distribution of earnings as dividends or bonus. 3. Retained Earnings-Unappropriated or Accumulated Deficit: defined as the earnings that have not been appropriated or the deficit has not been offset.The appropriation of retained earnings or the offsetting of deficit shall only be recorded in the book with the consent of the business owner or a mutual r esolution among the stockholders. Proposals for the appropriation of earnings or the offsetting of deficit shall be specified in the notes to the current period financial statements. | Article 28 : The categories of items in the income statement are as follows: 1. Operating Revenue. 2. Operating Costs. 3. Operating Expenses. 4.Non-operating Revenues and Expenses, Other Income (Expense). 5. Income Tax 6. Gains and Losses of continuing operating department. 7. Gains and Losses of discontinuing department 8. Extraordinary Gains and Losses. 9. Cumulative effect of changes in accounting principles 10. Current period net income (or net losses)| Article 29 : Operating revenue refers to the revenue earned in the normal operation of selling goods or services provided in the current period; the account categories, valuation and required notes are as follows: 1.Sales Revenue: defined as the revenue earned from selling goods. Sales returns and allowances shall be presented as a contra account o f sales revenues. 2. Service Revenue: defined as the revenue earned from providing services. 3. Agency Revenue: defined as the revenue earned from compensation for an intermediary, agency or commissioned work. 4. Other Operating Revenue: defined as other revenue that does not belong to the previous three categories. Article 30 : Operating costs refers to the costs that are borne for selling goods or providing services in the current period; the account categories, valuation and required notes are as follows: 1. Cost of Goods Sold: defined as the original cost of goods sold or the manufacturing costs of products sold. Purchases returns and allowances shall be presented as a contra account of purchases costs. 2. Services Costs: defined as the costs that are borne from providing services. 3.Agency Costs: defined as the costs that are borne from an intermediary, agency or commissioned work. 4. Other Operating Costs: defined as the costs that are borne from other operating revenues. | Ar ticle 31 : Operating Expenses refers to the expenses that are borne from selling goods or providing services in the current period; operating costs and expenses that cannot be separately presented may be merged into operating expenses. | either non-operating or expense indicating extraordinary losses. Article 33 : The income or losses from continuing operations refer to both operating and non-operating revenue. Net operating expenses and non-operating expenses, of which shall be presented separately according to the pre-tax amount, including income tax expenses or benefits, and post-tax amount. | Article 34 : The gains or losses from discontinued operations refers the income gained or monies lost due to business operations, along with disposition gains or losses and the gains and losses measured by the net fair value.For discontinued operations completing the disposition within the current year, records shall be made using the net after-tax amount indicating a gain or loss in dispos able income;; for discontinued operations that do not complete disposition within the current year, the net asset thereof must be valued using the face value or net fair value which ever is lower; if the net fair value is lower than the face value, net fair value shall be recorded to indicate such a loss so as to off-set the face value of the net asset from the discontinued operations; if the net fair value recovers, recovered gains can be recognized within the scope of losses originally measured by net fair value. The gain or loss from discontinued operations shall be presented as net income, following the item of the post-tax income or loss from continuing operations. Article 35 : Extraordinary gains and losses refer to any unusual or infrequent occurrence which shall be presented net form, , following the item of the gain and loss from discontinued operations. | Article 36 : The cumulative effect of changes in accounting principles shall be presented as a net change, following th e item of the extraordinary gain and loss. | 3. Retained earnings or deficit should include the following content: (1) The beginning balance. (2) The prior period net income or loss adjustment. (3) The current period net income or loss. (4) The appropriation of legal reserves and special reserves, distribution of dividends, etc. (5) The ending balance. 4.The beginning balance, the changes of the items and the amount during the current period, and the ending balance of the unrealized loss on market value decline of financial products. 5. The beginning balance, the changes of the items and the amount during the current period, and the ending balance of the unrealized revaluation increments. 6. The beginning balance, the changes of the items and the amount during the current period, and the ending balance of the cumulative translation adjustment. 7. The beginning balance, the changes of the items and the amount during the current period, and the ending balance of the treasury stock.The respective income tax expense or benefit shall reflect the itemsArticle 39 : The statement of cash flows must present a summary of information specifying all cash receipts and expenditures incurred by the business entity during a specific period; preparation and presentation of the statement of cash flows shall follow the Statement of Financial Accounting Standards No. 17. | Article 40 : The following subsequent events that occur after the balance sheet date but before the issuance of financial statements shall be specified in the notes to the financial statements: 1. Changes in capital structure. 2. Significant long- or short-term borrowings. 3. Additions, expansion, construction, leasing, abandonment, idleness, sale, collateralization, transfer or long-term renting of major assets. 4. Significant changes in productive capacity. 5.Significant changes in production and sales policies. 6. Major investments in other businesses. 7. Losses on catastrophic disasters. 8. The proceeding o r settlement of important lawsuits. 9. The signing, fulfillment, cancellation or voiding of important contracts. 10. Important organizational adjustments and significant reforms in management systems. 11. Significant effects resulting from changes in government regulations. 12. All other important events and measures that will affect the financial position, results of operations and cash flows in the future. | Direct materials used| | | Beginning raw materials inventory| $ 6,200| |Add: Cost of raw materials purchased| 49,400| | Total raw materials available| 55,600| | Less: Ending raw materials inventory| (5,800)| | Total raw materials used| | $ 49,800| Direct labor| | 125,600| Manufacturing overhead| | | Indirect materials| 4,100| | Indirect labor| 43,700| | Depreciation—factory building| 9,500| | Depreciation—factory equipment| 5,400| | Insurance—factory| 12,000| | Property taxes—factory| 4,500| | Total manufacturing overhead| | 79,200| Total manufactur ing costs| | 254,600| Add: Beginning work-in-process inventory| | 10,20| | | 264,800| Less: Ending work-in-process inventory| | (9,800)| Cost of goods manufactured| | $255,000|

Virginias Winery Business Plan - 18780 Words

Virginia’s Winery Business Plan Example 111 Winery Lane Churchville, VA 11111 Phone: (111) 111-1111 Email: virginiaswinery@gmail.com Website: http://www.virginiaswinery.com Owners: William and Wendy Vine Table of Contents Table of Contents ................................................................................................................................................................... 2 Executive Summary ............................................................................................................................................................... 3 General Business and Industry†¦show more content†¦11 Operations Staff Estimate................................................................................................................................................. 11 Scheduling ........................................................................................................................................................................ 12 Plan of Operations ............................................................................................................................................................... 12 Timeline ....................... .................................................................................................................................................... 12 Hours of Operation .......................................................................................................................................................... 12 Suppliers .......................................................................................................................................................................... 13 Production Process ........................................................................................................................................................... 13 Bottling and Labeling Process ........................................................................................................................................... 14 Storage Process

Coloring the TDBGrid Delphi Component

Adding color to your database grids will enhance the appearance and differentiate the importance of certain rows or columns within the database. Well do this by focusing on DBGrid, which provides a great user interface tool for displaying data. Well assume that you already know how to connect a database to a DBGrid component. The easiest way to accomplish this is to use the Database Form Wizard. Select the employee.db from the DBDemos alias and select all fields except EmpNo. Coloring Columns The first and easiest thing you can do to visually enhance the user interface is to color individual columns in the data-aware grid. Well accomplish this through the TColumns property of the grid. Select the grid component in the form and invoke the Columns editor by double-clicking the grids Columns property in the Object Inspector. The only thing left to do is specify the background color of the cells for any particular column. For text  foreground color, see the font property. Tip: For more information on Columns editor, look for Columns editor: creating persistent columns in your Delphi help files. Coloring Rows If you want to color the selected row in a DBGrid but you dont want to use the dgRowSelect option (because you want to be able to edit the data), you should instead use the DBGrid.OnDrawColumnCell event. This technique demonstrates how to dynamically change the color of text in a DBGrid: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency36000 then DBGrid1.Canvas.Font.Color:clMaroon;DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; Heres how to dynamically change the color of  a row in a DBGrid: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency36000 then DBGrid1.Canvas.Brush.Color:clWhite;DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; Coloring Cells Finally, heres how to change the background color of the cells of any particular column, plus the text foreground color: procedure TForm1.DBGrid1DrawColumnCell (Sender: TObject; const Rect: TRect; DataCol: Integer; Column: TColumn; State: TGridDrawState);beginif Table1.FieldByName(Salary).AsCurrency40000 thenbegin DBGrid1.Canvas.Font.Color:clWhite; DBGrid1.Canvas.Brush.Color:clBlack;end;if DataCol 4 then //4 th column is Salary DBGrid1.DefaultDrawColumnCell (Rect, DataCol, Column, State);end; As you can see, if an employees salary is greater than 40 thousand, its Salary cell is displayed in black and the text is displayed in white.

Essay on Alexander The Great Shaping A World - 2441 Words

Alexander The Great was born in Macedonia in the year 356 B.C., several hundred years before Christ and even before the rise of Rome. Despite this fact he is still a topic of discussion and study more than two millennium later for a plethora of reasons. His insight and ability on the field of battle has made him a shining example of how to conduct the art of war. He has been studied for centuries by both military journals and colleges. He has also kept the scholars of this world as busy as well. His choices to build cities and centers for learning and the preservation of knowledge such as the library at Alexandria have been able to provide work for generations of archaeologists and other scholars. His image over the years has been one†¦show more content†¦Deeply troubled, and no doubt in a great deal of danger, he fled with his mother to her homeland in Epirus. It was this turmoil filled childhood that has made some observers suggest that he may have suffered from possible O edipus complex (Thomas, P. 860). By 336 Alexander and his father had publicly reconciled their differences. Alexander stood with his father once again. Philip II was assassinated at his daughters wedding feast. The assassin was an aggrieved Macedonian nobleman. Pausanias assassinated Alexander’s father in the doorway to a theater. The official verdict on Philips assassination claimed the assassin had been bribed by Darius, the king of the Persian Empire. However, many suspected Alexander and his mother because they had recently fallen from royal favor. No one knows quite why Phillip was murdered, but it was finally declared that Alexander had taken no part in the deed. Pausanias was cut down immediately and legends say his body was crucified although there is no definitive evidence one way or another. At this time Alexander took possession of his father’s throne. At first he was faced with rebellions on every side. He then began to surround himself with loyal friends and completely overhauled the upper echelons of power in Macedonia. Before the end of the summer of 336 BC he had reestablished his position in Greece and was elected by a congress of states at Corinth. In 335 BC as generalShow MoreRelatedAlistair MacLeods No Great Mischief Essays1187 Words   |  5 PagesThe search for and importance of family and identity of the Calum Ruadh clan in Alistair MacLeods No Great Mischief is significant to the concept of blood being thicker than water. The importance of family, as indicated in No Great Mischief, is very apparent in regards to the main point of prominence in this deeply emotional Gaelic- Canadian tale. An idea that arises No Great Mischief[, is MacLeod’s ability to prove to the readers that it is impossible to talk about the Scottish-CanadianRead MoreAlexander The Great Was Responsible For Developing World1479 Words   |  6 PagesDuring the fourth century, the ancient world was rocked by a dynamic political figure from the unlikely territory of Macedon. Alexander the Great was responsible for developing one of the largest empires the ancient world had ever witnessed. His military campaigns yielded major territorial gains across multiple continents, earning him incredible authority and prestige up to his untimely death. With the Macedonian throne newly vacant, a power vacuum developed as military elites sought to seize controlRead MoreThe Relationship Between Mythology And History : Ancient Mesopotamia And Egypt1125 Words   |  5 Pagesto give meaning to the natural world we live in . 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Consumer Preference Online Banking Service †Myassignmenthelp.Com

Question: Discuss About The Consumer Preference Online Banking Service? Answer: Introduction Business model innovation , a term which is in vogue from quite some time across the globe and industries. Making a business model which can withstand any uncertainty of time, and is flexible too is the need of the hour, hence a lot of startups these days are coming up with radical business model/solutions, which challenges the way businesses are functioning and at the same time provide a way for flexibility in the ecosystem(Massa Tucci, 2013). Disruption,is one of the most talked about word from the last couple of years, but only in the startup ecosystem. It has been observed that big established players do not go for disruption or dont try and make changes in the ecosystem, its the startups that are driving the change in the industry and being the front runners of the disruption game. In the further section will discuss this in depth and also see why big established players are wary about radical business models and disruption in their industries(Jenkins Fife, 2016). Before moving further, lets first understand some of the terms which will be used throughout the essay. Business models: Its a companys plan of how it will generate revenue, and make profits. It explains what products/services business wants to sell and market, also explains how it plans to do so with all the relevant details like expenses, employee strength , business verticals, etc. Hence, it is a simple step by step plan of action of conducting the business with profitability(Boons Ludeke-Freund, 2013). An essential feature of a great business model is developing a value proposition, which is essentially what value in terms of a product/service the business is wanting to offer to the potential customer, that essentially different from its competitors. Some examples of business models are click model , brick mortar, click mortar,direct sales, franchising, out of which, in the present scenario click model is the most popular one( Gobble, 2014). Disruption/Disruptive innovation : It can be understood as a process ,where a small company with fewer resources successfully challenges the established business. Big businesses try and focus on the segment which is most demanding and hence misses out on the other segments, disruption caters to that segment (Christensen, Raynor McDonald, 2015). Disrupters thus targets those overlooked segments at a relatively low price and delivering value to the segment. This type of innovation happens in low-end or new-market foothold.This kind of innovation is touted to not reach the mainstream customers until the customer sees a value in associating with them and better quality in services (King Baatartogtokh, 2015). It is a process Disrupters often build business models that are very different from the incumbents. Not all of the disruptive innovation succeed. The reasons why established players are shying from Disruptive innovation: Comfortable serving the high end customers- As spoken earlier, established players are the ones who are targeting a specific segment and are really happy catering to them. The segment they target gives them the maximum revenue, also one of the reasons why they overlook other segments. This leaves a lacuna between incumbent and their offerings, disrupters with their small size and limited resource bridge that gap. Old school thinking/Risk appetite: Established firms have a very trivial way of solving a problem, they look for rationality, calculate risk involved, take a lot of time in deciding things, everything has to be in a set order , the risk taking capacity is low, etc ,some of these reasons hold them back when it comes to taking a big leap forward with revolutionizing the industry. They fear technology, as the major challenge and hence fails to embrace it. On the hand startups have a very radical thinking , they are young like minded individual, higher risk appetite, wanting to challenge the existing norms system , not scared of failure, wanting to do big in their life and contribute to the society, some of these factors make them the disrupters in comparison to established firms ( Morris, 2013). Follow 80/20 rule: In sales, there is a rule, saying , 80 % of the companys sales comes from 20% of its Most of the big businesses work on this theory, overlooking the rest 80% of the customers, because they are not contributing much to their revenues, and in order to target the remaining 80% they would have to put in extra hours, which they kind of see as unnecessary (Kane, 2014), hence shying away from radical business innovation. Out-Of-Box thinking- In big businesses, the management is very stern, they strictly follow top-down approach , the communication flow is not that open , its smooth , but not open. Out of the box thinking is not so appreciated in big firms , they believe in their own traditional ways to solve a problem, ideas are not appreciated and given attention too, infact, there is not a culture where in ideas can be brought forward to the management, the ideas keep dying every day at big firms. Hence, no space for out-of the box thinking makes them completely unaware of the benefits of disruption making them apprehensive about it. Also a flat hierarchy in the startups becomes a breeding ground for more and more ideas, unlike the big firms (Schwitzgebel, 2013). Conceptual belief in the sustainability model rather than disruption: The management of big firms dont have a faith in disruption , they think of it as a wave, a fad, something which everyone is doing, they dont believe that these business models can sustain themselves for long, and its just a matter of time that it will fade away. This dogmatic approach towards the change happening holds them back in making a dent in the established virtues of businesses. Conclusion : In all fairness, disruption is good for the industry, the process may need a bit of modification, in terms of mentoring of startups, and some experts looking over the way processes are taking shape, but as long as the society is getting benefitted , its a win-win for all. Uber, amazon, Netflix, Airbnb are some of the fantastic examples of disruption models which have changed the way these industries were working before. It is the responsibility of the big firms to come forward and embrace and be a part of the change, rather than just be an audience( Carayannopoulos, 2017). Online banking initially gained popularity in the late 1980s or the early 90s, since then, online banking is on a fast paced growth with tons of added product and ease of the banking functionality. It started out as using a keyboard and landline to access ones bank account , which has gradually shifted to internet banking , which is banking transaction via internet, peer to peer transfer, smartphone banking/mobile banking (Laudon Traver,2013). All this has simplified the life of the user , the bad days of standing in the queue to deposit money, getting monthly statements, etc have gone past. It is the new age banking which everyone seems to appreciate. October 94 , Stanford credit central bank became the first one to offer internet services to its customers. The convenience and perks of online banking are higher in comparison to traditional banking, still a good amount of the population is wary of internet banking because of the fear of being duped by online hackers(Dauda Lee, 2015 ). In the case it is said that some banks adopted internet banking as a separate unit and some inculcated online banking in its existing model of business, in the further section we will see, the reason for different business behaviors in the same industry. Evolution of the banking system: The early years: The early version started in 1981, NYC was the first one to offer home banking services to its customers, throughout the history, it was the most difficult one to adopt in the history of online banking, hence it did not pick up, until the next innovation in the early 90s. In oct 94 Stanford credit national become the first one to offer internet banking to its customers. Following the lead were other banks, who also started extending their online services (Laukkanen, 2016) Online banking- In the 2000s: With the evolution of online banking , it slowly began to to gain popularity in the e-commerce as well. Seeing some of really big banks getting into online baking , it started gaining popularity among the customers, and suddenly the entire shift happened towards online banking from traditional banking. In 2010, the trend again changed from online banking to internet payments, consumer billings and payment started trending. The increase in mobile penetration , growing digital literacy multiplied the growth in online banking and made it a very common term among consumers (Leamer Storper, 2014) Some of the reasons for the disruption in banking can be attributed to: Fear of losing out the existing customers: Some banks feared , if they do not create a different unit to cater to the online banking needs, they might lose onto the chunk of traditional bankers, who are wary about the usage of online banking, and hence merging of traditional and online banking would further scare them off, hence the reason for difference in adoption of disruption. Better management of services: Some banks thought , online banking is here to stay, so why not create a separate unit out of it, and fill it with innovation and new technology. By doing this , it wont hamper their existing business procedures and they would be in a space of technological innovation as well. Creating the unit within the self: Most of the banks went with this strategy of adopting online banking in its existing model, this can be attributed to the bandwidth those guys have, the adoption , Accounting of services, keeping a distinction between a traditional and online banker, their capabilities to make customers understand, combat their fears and so on. This leads them to adopt online banking in its existing system. Future vision: Banks were smart enough to predict future, they knew mobile banking is the future, payments, customer billings etc, is the new wave of change, digital penetration will increase this manifold, hence they thought of focussing their efforts in creating online products and services which will be more useful to the clients rather than thinking about creating a separate unit and a different business model, as any new creation takes time , and if one is sure of its capability in the industry , they better adopt rather than reinventing the wheel ( Sia, Soh Weill, 2016). Conclusion: Rightly said, disruption can hit an industry in different ways , online banking adoption is a clear example of the said theory. Disruption in itself is a new age thinking , it is a thinking of the go getter, who is looking to challenge the existing norms, who dont want to be kept shut and take orders. They believe in the creation of a new thing which challenges the structure. Hence different models of disruption are possible, as long as it is disrupting and changing the set patterns, and same is working in favor of consumers, its a wonderful strategy. Banking has evolved over the years, and now with new age mobile banking, the possibilities are endless, more disruption in the banking industry is surely on the card. References: Boons, F Ldeke-Freund, F 2013, Business models for sustainable innovation: state-of-the-art and steps towards a research agenda, Journal of Cleaner Production, 45, pp.9-19. Carayannopoulos, S 2017, Small, young firm flexibility and performance in the context of disruptive innovations, International Journal of Entrepreneurship and Innovation Management, 21(1-2), pp.105-118. Christensen, C.M, Raynor, M.E McDonald, R 2015, Disruptive innovation, Harvard financial Review, 93(12), pp.44-53. Dauda, S.Y Lee, J 2015, Technology adoption: A conjoint analysis of consumers? preference on future online banking services, Information Systems, 53, pp.1-15. Gobble, M.M 2014, Business model innovation, Research-Technology Management, 57(6), pp.58-61. Jenkins, J Fife, T 2016, Designing for disruption: strategic business model innovation, International Perspectives on Business Innovation and Disruption in Design, p.75. Kane, G 2014, Accelerating Sustainability Using the 80/20 Rule:Do Sustainability, Sage publications. King, A.A Baatartogtokh, B 2015, How useful is the theory of disruptive innovation?, MIT Sloan Management Review, 57(1), p.77. Laudon, K.C Traver, C.G 2013, E-commerce, Pearson. Laukkanen, T 2016, Consumer adoption versus rejection decisions in seemingly similar service innovations: The case of the Internet and mobile banking, Journal of Business Research, 69(7), pp.2432-2439. Leamer, E.E Storper, M 2014, The economic geography of the internet age, International Business Journal (pp. 63-93). Massa, L Tucci, C.L 2013, Business model innovation, The Oxford handbook of innovation management, 20, p.18. Morris, L 2013, Business model warfare: The strategy of business breakthroughs, Journal of Business Models, 1(1), p.13. Schwitzgebel, E 2013, A dispositional approach to attitudes: Thinking outside of the belief box, New essays on belief, pp.75-99. Sia, S.K, Soh, C Weill, P 2016, How DBS Bank Pursued a Digital Business Strategy. MIS Quarterly Executive, 15(2).

Leadership essay Example Leadership the Role of Managers

Leadership the Role of Managers Leadership the Role of Managers Introduction: In the world of medicine, it is the collective effort of a variety of health practitioners that contributes to caring for the ailing and the injured. Nurses probably form the largest professional group within this group of health care practitioners. A couple of decades ago, the role of chief nurse was limited to help physicians observe, record, diagnose, and administer care and medication. This was in addition to routine supervisory tasks. Health care organizations are now more knowledge intensive, and this clinical executive is challenged to take up more specialized roles as a leader and the manager of the interdisciplinary teams within the healthcare environment. Managers as leaders: Often for chief nurses their role as a manager is defined by the organization to command a team of subordinates, and ensure compliance. To merge the operational role of a manager with the role of a leader, a chief nurse that focuses on inspiring the team has well disposed followers, who are committed to work towards the set goals. Although in the area of nursing and health care, communication is often clear, roles are defined, and there is less ambiguity with regard to tasks, the chief nurse who communicates effectively, has better scope to function as a leader, and ensure positive end results. This is especially true in times of organizational reconstruction or change.   Communication needs to be explicit with the team – on the unknown and the inexplicable, what these changes will bring, and how to anticipate the same, in terms of having alternatives; setting priorities and making choices that are ones own. Communication on change can help reduce anxieties, when employees understand the larger perspective, the bigger picture that changes are often to do with helping to optimize resources rather than laying-off or depreciating employee value. Another way that managers become leaders is by possessing definite knowledge and skills that subordinates quickly recognize as credible. A chief nurse is a knowledge worker with a formal education base along with sophisticated manual skills. If this knowledge is authentic, then the leader’s formal authority is appreciated, and followers are sustained. Motivate and compensate employees: Chief nurses play a vital role in the management of human resources. Their skills are called for in selecting and hiring persons with specialized knowledge, experience, and an aptitude to deliver results collectively within given time parameters. Time or production based assessments are now replaced by results based appraisals. Appraisals help members in recognizing what is personally vital to them, and consequently helpful to achieve the team’s goal. Opportunity for High Performance: The chief nurse together with the team sets goals, develop plans, report and review collectively for enhancing future execution. Good ideas generated from the team are appreciated, and lead to collective decision-making. Teams feel motivated to perform when the results are important to their leader. Performance levels can be enhanced when the team is appropriately compensated, and appreciated for their efforts, when offered decent working environments, experience fairness, and when given further learning, training and self development opportunities. Incentive to Achieve High Performance: The role of the chief nurse is to also develop measures that are effective to measure performance. A feedback on performance helps the team to streamline future roles and responsibilities, and being aware that their contributions have had results helps them have a sense of achievement. Conclusion: Managers and leaders are separated by a thin line of divide in how they perceive their functional role, responsibilities, and style in working with people. Empowering people helps breakdown hierarchical structures, provides new logic in dealing with people dynamics, and their inherent potential. (Sorell-Jones, J., 1999). Works Cited Sorell-Jones, J. â€Å"The role of the chief nurse executive in the knowledge-intense organization of the future â€Å".Nursing Administration Quarterly. 23.3. (1999): 17-26. Tell Us Your Assignment Question We are eager to know your assignment question, so we can instantly assign one of our extremely trained and relevant writers to this job. Place the order once, and you will become a returning customer of our assignment helper online service. Order the essay now.