Exam case financial accounting Essay Example for Free

Exam case financial accounting Essay Solutions to Exercises and Problems Tutorial 1 IFM Case 2-2 Case 2-2 SKD Limited 1.Goodwill There is no goodwill amortization expense in Country A, so the goodwill amortization expense recognized by SKD must be added back to determine income under Country A GAAP. SKD amortizes goodwill over a longer period (20 years) than is allowed in Country B (5 years), so an additional amount of goodwill amortization expense must be recognized to determine income under Country B GAAP, which reduces Country B GAAP income. b.The goodwill adjustment affects the retained earnings in stockholders’ equity. The increase in Country A GAAP income results in an increase in retained earnings and the decrease in Country B GAAP income results in a decrease in retained earnings. c.The adjustment to income is for the current year only. The adjustment to stockholders’ equity is cumulative. The fact that the stockholders’ equity adjustment is three times as larger as the income adjustment implies that the goodwill was purchased three year ago. 2.Capitalized Interest a.The adjustment labeled â€Å"Capitalized interest† relates to the interest that is not expensed but instead is capitalized under Country A GAAP. The adjustment labeled â€Å"Depreciation related to capitalized interest† relates to the depreciation of the interest that was capitalized as part of the cost of the asset. b.The first adjustment increases income because interest is not being expensed immediately but instead is capitalized as part of the cost of the asset to which it relates. The second adjustment decreases income because under Country A GAAP, the asset to which interest is capitalized has a larger cost and therefore a larger depreciation expense. c.Both income adjustments are closed out to retained earnings and partially offset one another. The increase to income of $50 and the decrease of $20 result in a net increase in retained earnings of $30. 3.Fixed Assets a.When fixed assets are revalued to a higher amount, there is an increase in their carrying value with an offsetting increase in stockholders’ equity to keep the balance sheet in balance. The amount by which the assets are revalued is subject to depreciation, which results in a larger depreciation expense. The adjustment to recognize this additional depreciation expense decreases income under Country B GAAP. It also decreases stockholders’ equity (retained earnings). The decrease in retained earnings from additional depreciation is smaller than the increase in stockholders’ equity from revaluation of assets, which results in a net increase in stockholders’ equity. Note: if we knew when the fixed assets were revalued, we could determine the amount by which they were revalued. For example, if revaluation occurred at the end of the previous year, then the revaluation amount must have been $64 ($64 – 8 = $56) because only one year of additional deprecat ion would be included in the stockholders’ equity adjustment. 27. Holzer Company – Property, Plant, and Equipment (capitalization of borrowing costs and measurement of asset subsequent to acquisition using two alternative models) IAS 16 Cost Model Carry asset on the balance sheet at cost less accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000* x 10%)50,000 Interest expense in Year 1$40,000 * Expenditures of $1,000,000 were made evenly throughout the year, so the average accumulated expenditures during the year are $500,000 ($1,000,000 / 2). Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$26,250$26,250 Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$997,500$971,250 Depreciation(26,250)(26,250)(26,250)(26,250) Building (at 12/31)$1,050,000$1,023,750$997,500$971,250$945,000 IAS 16 Revaluation Model Carry asset on the balance sheet at revalued amount equal to fair value less any subsequent accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000 x 10%)50,000 Interest expense in Year 1$40,000 Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$25,5262$25,526 Subtotal $0$26,250$26,250$25,526$25,526 Loss on revaluation27,500 Reversal of revaluation loss(27,500) Total expense (income)$0$26,250$43,750$25,526$(1,974) Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$970,000$944,474 Depreciation(26,250)(26,250)(25,526)(25,526) Building (at 12/31)$1,050,000$1,023,750$997,500$944,474$918,948 Loss on revaluation(27,500)1 Reversal of revaluation loss27,5003 Revaluation surplus 3,5523 Building (at 12/31)$1,050,000$1,023,750$970,000 $944,474$950,000 1At December 31,Year 3, the fair value of the building is determined to be $970,000. The carrying value of the building is decreased by $27,500, with a loss on revaluation recognized in Year 3 net income. 2 Depreciation in Year 4 is $25,526 ($970,000 / 38 remaining years). 3At December 31,Year 5, the fair value of the building is determined to be $950,000. The carrying value of the building is increased by $31,052. A reversal of revaluation loss of $27,500 is recognized in income and $3,552 ($31,052 – 27,500) is recorded as revaluation surplus in shareholders’ equity.

The Ethics of Artificial Intelligence: What are the Consequences of our Technology? :: Technological Papers

The Ethics of Artificial Intelligence: What are the Consequences of our Technology? Introduction The technological field has advanced to something far more than what people could have imagined just a half a century ago. The technological revolution has changed the lifestyle of societies just as the Industrial revolution changed the lifestyle of Europe. Who would have imagined the Internet and computers in most homes, when a computer could barely fit into an entire building, much less intelligent machines? Artificial Intelligence is an intriguing technology that will shape the human lifestyle of the future. Restricting research and progress in the field is hardly a feasible task in today's world. More realistically, we should monitor and keep the technology in a realistic and safe progression. History Artificial intelligence folklore has been traced back to the times of Ancient Egypt. But the "birth of artificial intelligence" as some would call it, was in 1956 at the Dartmouth conference. The conference was based on two theories, the principle of feedback theory and the Logic Theorist. The principle of feedback theory was observed by Norbert Wiener. He theorized that all intelligent behavior was the result of a feedback mechanism. An example would be a temperature control system that simply checks the temperature of the room, compares the reading to the desired temperature, and adjusts the flow of heat to bring the room to the desired temperature. Then in 1955, Newell and Simon developed The Logic Theorist. The Logic Theorist was a program that represented every problem as a tree. The program would attempt to solve a problem by selecting the branch that would most likely result in the correct solution. Then in 1956, John McCarthy1 organized the Dartmouth Conference to draw intere st and talent to the field of artificial intelligence.2 Finally almost a decade after the Dartmouth Conference, Centers for artificial intelligence research began to form at Carnegie Mellon and MIT. Further advancements were made in the field. The General Problem Solver (GPS) was developed based on the Wiener's feedback principle. The GPS was capable of solving a greater range of common sense problems. As the field progressed, the LISP language was created. LISP became the language of choice among the artificial intelligence developers. The in 1963, the Department of Defense's Advanced research projects Agency (ARPA) gave MIT a 2.2 million dollar grant to be used in researching "Machine-Aided Cognition" or artificial intelligence. This move by the US government was to ensure that the United States have the technological advantage over the Soviet Union.

Operating System Essay

1. What is the application Zenmap GUI typically used for? Describe a scenario in which you would use this type of application. Zenmap is an application that is used to scan ports for networks. A scenario where it can be used is to scan the ports of a network to know exactly which ports are opened or closed thus allowing a network administrator to reduce the vulnerability of its network. 2. Which application is used for Step 2 in the hacking process to perform a vulnerability assessment scan? Nessus. 3. What must you obtain before you begin the ethical hacking process or penetration test on a live production network, even before performing the reconnaissance step? One must obtain a signed authorization form showing exactly what kind of test you are authorized to perform. 4. What is a CVE listing? Who hosts and who sponsors the CVE database listing website? CVE listing is a dictionary of publicly known information security vulnerabilities and exposures. IT is hosted by the Office of Cybersecurity and Communications at the U.S. Department of Homeland Security 5. Can Zenmap GUI detect which operating systems are present on IP servers and workstations? Which option includes that scan? Yes, the OS detection using TCP/IP stack fingerprinting option includes that scan. 6. If you have scanned a live host and detected that it is running Windows XP workstation OS, how would you use this information for performing a Nessus vulnerability assessment scan? One can use this information to create a policy of vulnerabilities that you want Nessus to scan for on that specific host. 7. Once a vulnerability is identified by Nessus, where can you check for more information regarding the identified vulnerability, exploits, and the risk mitigation solution? You can check the report generated by Nessus, specifically in the hostname plugin ID which will give you a detailed description of the vulnerability found along with possible mitigation solutions. 8. What is the major difference between Zenmap GUI and Nessus? The major difference between Zenmap GUI and Nessus is that Zenmap only a scanner that maps a network and gives you information about open ports but Nessus is a vulnerability scanner than scans a network and gives a report on how vulnerable that specific port is. The main difference is one gives a report on how to fix a vulnerability in a port while the other doesn’t. 9. Why do you need to run both Zenmap GUI and Nessus to perform the first three steps of the hacking process? You need both Zenmap GUI and Nessus to perform the first 3 steps of the hacking process because Zenmap GUI and Nessus are used to perform different tasks and steps in the hacking process therefore you would not be able to perform the first 3 steps effectively using only one software. Both are needed.

Contribution Of Women In The Civil War - Free Essay Example

Sample details Pages: 6 Words: 1910 Downloads: 9 Date added: 2019/05/08 Category History Essay Level High school Tags: Civil War Essay War Essay Did you like this example? When it comes to the evaluation of the significance of the Civil War, many tend to put emphasis on the relationship between the races as well as the desire of one party, the Confederacy, to maintain the preferred social order, namely slavery. However, there is another kind of relations that is often overlooked when it comes to the analysis of this armed conflict gender relationships. While many believe that the war in question was fought by men against men, the contribution of women tends to be in the shadow and is perceived as less significant. Don’t waste time! Our writers will create an original "Contribution Of Women In The Civil War" essay for you Create order This is a serious historical injustice since when all aspects of that time are taken into account, one will be able to notice that women contributed to the war effort from both sides significantly. During the Civil War women provided war relief, served as nurses, soldiers, and even spies which makes them an inseparable part of that armed conflict. Women Providing War Relief To begin with, it is worth focusing on the place that women traditionally occupied in the society in the eighteenth century. Being deprived of a chance to get education, they usually worked as manual workers and were employed at jobs of varying difficulty[1]. It is obvious that wives of upper-class men did not work, but the important point to be mentioned here is that the division of labor was largely performed based on stereotypical gender characteristics[2]. As a result, during the Civil War women would often make a contribution that they did during the peaceful times, but on a larger scale: they would cook food, repair clothes, take care of the laundry and so on. No matter how insignificant one might see this, this kind of war effort was essential for keeping an army operational. That is why there is a lot ofinjustice in the fact that this contribution of women has been overlooked by many. In addition to that, there were also activities that contributed to the war efforts and were not considered to be a stereotypical womens work. A good example is Sanitary Fair which was hosted in Chicago in 1863: this was an event that was designed to raise money for the army[3]. One should point out that at the time this was considered to be a significant step in letting women do some important social job as prior to that women also organized some fund-raising events, but they were not directly linked to any significant social issues. Therefore, the ability of women to find money for the army was greatly valued at the time because money was needed to ensure that the funding did not stop which contributed to the ultimate victory of the military forces. Women Serving as Nurses Now, it may be logical to turn to another aspect of the contribution of women to the war efforts serving as nurses. In spite of the fact that today female nurses on the battlefield are seen as something ordinary, it was quite a big novelty at the time. Florence Nightingale set an example during the Crimean War which inspired numerous women all over the world. Many women, for example, Dorothea Dix, would become full-time nurses during the war[4]. If one develops a broad perspective on this issue, one will be able to notice that it was indeed a serious step forward since it showed that women can do something more than just their domestic chores on a large scale. Once again, it is worth mentioning that seeing women as nurses were quite unusual at the time; so, the women who volunteered to be nurses were extremely brave. However, it is not only administration of hospitals and taking care of the wounded that women did as nurses. There were numerous examples of nurses that would go the battlefield and help the soldiers under such extremely dangerous conditions. Clara Barton is one of such nurses: she took care of the soldiers not only in the hospital, but also during th? battles; that is why she received an honorary title Angel of the Battlefield[5]. The key point that needs to be emphasized here is that by allowing women on the battlefield, the military acknowledged that women were able to make a significant contribution that was highly valued. According to the laws of the time, women were banned from the military; therefore, their presence on the battlefield as nurses as close as they could get to make a direct contribution to the war effort without violating the applicable laws. Women Serving as Soldiers As it has already been mentioned, the laws of the time prohibited women from serving in the army. However, it is suggested that as many as over 400 women were able to find their way into the military by disguising themselves as men[6]. For modern day people, this might sound somewhat unbelievable; however, after all, aspects have been considered, one might find that this was quite possible. The example of Frances Clayton is quite interesting: she disguised herself as Frances Clalin and served as a soldier[7]. It is quite obvious that at the time the need for soldiers was high; so, the recruiters did not question a person who was willing to volunteer. The important point to note here is that such example as that of Clayton shows that women were dissatisfied with the place that they had in the society and were willing to make a contribution to the war effort as much as men did. It may be rather difficult to estimate the actual number of women who served in the army during the Civil War for a number of reasons. First of all, they directly violated the applicable legislation which meant that neither them, nor the army would actually report that number since it was against the rules. In addition to that, the only war for women to be discovered was when they were examined by the doctors in the hospital after they were wounded. That is why it is quite possible that many women died on the battlefield and were not ever discovered. In addition to that, they might have refrained from going to the hospital because they knew that that would destroy their disguise. All this leads to the understanding that there is evidence that many women were willing to contribute to the war effort as much as men did. Women Serving as Spies Finally, there is one last aspect that needs to be mentioned when it comes to evaluating the contribution of women during the Civil War many of them served as spied. Given all the roles that were mentioned above, namely a war relief worker, a nurse, and a soldier, one might speculate that being a spy is the most extreme role that women were able to play during the war. From the letters of Sarah E. Thompson, we know that she did her best to serve the Union as much as she could. Though she may have simply talked to some soldiers and visited balls, she was actually collecting important information that was later needed by the army[8]. That is why it is possible that womens ability to affect men and maintain interesting conversation appeared to be quite helpful during the war. The important point that needs to be mentioned specifically is that there were female spies on both sides. For example, Rose ONeal served as a spy for the Confederacy and warned her friend in personal correspondence about the importance of sending correct information, which can be used so as to counteract the Yankee accounts[9]. This shows that ONeal understood the basics of information warfare and tried to do her best to spread the truthful information about her friends so that they would get an objective view of the actions of the Confederate army. With this in mind, one might speculate that this woman was way ahead of her time because she understood the role that information played during the war. As a result, one might come to the understanding that women were able to play all kind of roles during the Civil War. Conclusion Having examined all the points that were mentioned in the paragraphs above, one is able to come to the following conclusion: during the Civil, War women assumed a wide variety of roles ranging from stereotypical to most extreme. Thus, women served as war relief workers and performed their domestic duties on a large scale. This was considered to be the most appropriate way for women to make their contribution to the war effort. Some women were brave enough to serve as nurses: they took care of the soldiers on and behind the battlefield. These women were greatly inspired by the example of Florence Nightingale. There also were women who disguised themselves as soldiers and fought with men. The only time their true identity was discovered was when they were wounded and required medical attention. Finally, the evidence shows that there were many women who served as spies. Bibliography Beard, Rick. From Civil War to Civil Rights: The Opportunities of the Civil War. History News 66, no. 3 (2011): 12-18. https://www.jstor.org/stable/42654328. Devine, Shauna. To Make Something Out of the Dying in This War: The Civil War and the Rise of American Medical Science. Journal of the Civil War Era 6, no. 2 (2016): 149-63. https://www.jstor.org/stable/26070401. Madway, Lorraine. Purveying Patriotic Pageantry: The Civil War Sanitary Fairs in New York. New York History 93, no. 4 (2012): 268-301. doi:10.2307/newyorkhist.93.4.268. Marshall, Anne E. A Sisters War: Kentucky Women and Their Civil War Diaries The Register of the Kentucky Historical Society 110, no. 3/4 (2012): 481-502. https://www.jstor.org/stable/23388059. ONeal, Rose. Letter to Alexander Boteler. n.d. Accessed April 07, 2018. https://library.duke.edu/rubenstein/scriptorium/greenhow/1863-12-10/1863-12-10.html. Sizer, Lyde Cullen. Mapping the Spaces of Womens Civil War History. Journal of the Civil War Era 1, no. 4 (2011): 536-48. https://www.jstor.org/stable/26070167. Szpila, Kathleen. Lest We Forget: Ellen Ryan Jolly and the Nuns of the Battlefield Monument. American Catholic Studies 123, no. 4 (2012): 23-43. https://www.jstor.org/stable/44195438. Thompson, Sarah E. Sarah Thompsons Account of Morgans Defeat. n.d. Accessed April 07, 2018. https://library.duke.edu/rubenstein/scriptorium/thompson/1864-09-03/1864-09-03.html. Valentine, Hannah. Letter to Michael Valentine from Hannah Valentine. n.d. Accessed April 07, 2018. https://library.duke.edu/rubenstein/scriptorium/campbell/1838-01-30/1838-01-30.html. [1] Devine, Shauna To Make Something Out of the Dying in This War: The Civil War and the Rise of American Medical Science. Journal of the Civil War Era 6, no. 2 (2016), 149. [2] Hannah Valentine, Letter to Michael Valentine from Hannah Valentine, n.d., accessed April 07, 2018, https://library.duke.edu/rubenstein/scriptorium/campbell/1838-01-30/1838-01-30.html. [3] Marshall, Anne E. A Sisters War: Kentucky Women and Their Civil War Diaries The Register of the Kentucky Historical Society 110, no. 3/4 (2012), 492. [4] Szpila, Kathleen. Lest We Forget: Ellen Ryan Jolly and the Nuns of the Battlefield Monument. American Catholic Studies 123, no. 4 (2012), 30. [5] Sizer, Lyde Cullen Mapping the Spaces of Womens Civil War History. Journal of the Civil War Era 1, no. 4 (2011), 540. [6] Madway, Lorraine. Purveying Patriotic Pageantry: The Civil War Sanitary Fairs in New York. New York History 93, no. 4 (2012), 275. [7] Beard, Rick. From Civil War to Civil Rights: The Opportunities of the Civil War. History News 66, no. 3 (2011), 15. [8] Sarah E. Thompson, Sarah Thompsons Account of Morgans Defeat, n.d., accessed April 07, 2018, https://library.duke.edu/rubenstein/scriptorium/thompson/1864-09-03/1864-09-03.html. [9] Rose ONeal, Letter to Alexander Boteler, n.d., , accessed April 07, 2018, https://library.duke.edu/rubenstein/scriptorium/greenhow/1863-12-10/1863-12-10.html.