Application of Financial Statement Essay Example | Topics and Well Written Essays - 2250 words

Application of Financial Statement - Essay Example The Income Statement The income statement is â€Å"a financial statement listing all revenue and expenses for a fiscal period leading to net income or net loss: a statement that describes the operations of a business over a period of time (fiscal period)† (Kravitz, 1999 p63). The income statement is therefore a financial statement that shows the results of the operations of a business. This involves financial information about the income that a business makes and the expenditure that the business incurs over a given period of time. In effect, the income statement matches the revenue of a business with its expenses and provides the net income or net loss. In other words, the income statement provides an insight into the kind of revenue inflows and outflows that were incurred during the normal trading activity of the business. Another aspect of the income statement is that it is a period statement. In other words, it captures the financial picture of a business's trading activit ies over a defined period of time. This means that the income statement is mainly concerned with how a business performed in trade over the specified period of time. Tracey (2009) identifies that the main purpose of the income statement is to identify the profit or loss made by a business in a given period of time (p13). This means that the income statement identifies the performance of a business in terms of how much profits or losses that the business made over the specified period for which the accounts were prepared. This shows clearly that the income statement is mainly a tool for the measurement of the financial viability or otherwise of a given business in a stated period of time. â€Å"The income statement summarizes the sales revenue and expenses of a business for a period, usually 1 year† (Tracey, 2009 p13). This indicates that most businesses prepare their income statements over a period of 12 months. The GAAP and other legal statutes require businesses to prepare financial statements once every 12 months. However, in some instances, a business might opt to prepare an income statement for periods that are less or more than the 12 month period. If a business began trading in the middle of they year, they many prepare income statements for a period that is less than 12 months. Such a financial statement might be pro-rated for taxation and other financial purposes. This means that the number of months for which the accounts were prepared will be identified and divided by the 12 months period to find out the true worth for certain statutory purposes like tax. Typically, the tax rate that is invoked on such a business is calculated by identifying the number of months for which the accounts were prepared and dividing it by 12 before the figures are multiplied by the annual tax rate. The main motive is that income statements must be prepared over a given period and there should be definite cut offs within which the income and expenditure captured ar e compared. Tracey (2009 p13) identifies four main steps in the preparation of income statements. In the first step, the sales revenue is matched with the cost of goods or services that were sold. In other words, this involves the matching of income or payments made by customers to the business against the cost the business incurred in producing the goods sold.

Life Span Research Paper Example | Topics and Well Written Essays - 3500 words

Life Span - Research Paper Example He cherished the time they were able to spend together; because before he became ill, his father was too busy to spend much time with him. Mr. Asad said that he was definitely close to his mother, a stay-at-home mother who took care of household, the children and sometimes helped with her husband’s business. Mr. Asad admitted that still misses his mother very much. Mr. Asad was born and raised in Egypt. When he was a teenager, his father got sick and he was sent abroad to live with relatives. At first, he did not really know why his parents sent him to England but he realized they only want him to get a good education. So on he went to study high school and college there and then went on to become an English professor. Asked what he would like to do if he had the chance to be young again, he said he wanted to have enjoyed his youth. He was forced to grow up too fast because that he had to take care of the family business. He had to stand in for his father, because he was the o nly son. However, he has no regrets. He just missed his adolescence and laughingly admitted that he had not had enough opportunities to meet girls back then. Mr. Asad speaks 4 languages: Arabic, Spanish, French and English. That is why he was able to become an English teacher. He taught English to other Egyptians. He told me that he really loved teaching English and missed his work as a teacher. As a young adult, he worked as an archeologist at the British Broadcasting Company, Ltd. (BBC) and he produced a television show about Egypt but he did not mention the title or year. For Mr. Asad, it was the most memorable and enjoyable job he has ever had. At time that he met a special lady but her family did not approve of their relationship so he had to let go of their chance to be together. Even now, he says he does not understand why her family did not like him. It was difficult because she was so special to him. A few years later he met and married someone else. Soon he realized that h e had married the wrong woman. However, due to his religious beliefs, he did not divorce her. He worked very hard and supported his family and raised two children with her. In 1980 he lost his father. Four years later 1984 he lost his mother; thirteen years ago he lost his wife. Shortly after his wife passed away, his Parkinson’s disease became worse. He said he missed his parents, especially his mother. He did not talk much about his wife and he told me that before she passed away, he found out that she had saved money behind without his knowledge and had given all of it to her church instead of to their children. He seemed to still be upset about that. He talked much about his daughter but less about his son. He also talks about his grandchildren, especially his daughter’s daughter. When asked why he did not talk about his son, he said that his son reminded him so much of his wife, who had been so attached to money. He believes it is okay to save money but at the sam e time, his son needs to know how to enjoy spending money too. In contrast, he his daughter are very close, and every chance he gets, he sees her and her family because they always have fun together. Because of his Parkinson’s disease, he does not have much mobility so he has a live-in caregiver all who takes care of his everyday needs. They seem to get along well together, as they joke and laugh all the time. Although there have been advances in the study of Parkinson’

Nikola Teslas Conspiracy Theories

Nikola Teslas Conspiracy Theories Nikola Tesla and his Conspiracies Introduction Nikola Tesla was one of the greatest inventors during the history, due to his advanced research in his lifetime and the discovery of alternating current (AC) and work with electromagnetism. Before dying he was exploring the possibility of sending electricity to long distances wireless by sending Extremely Low Frequency (ELF) waves. Since his last project was never finished and due to the estrange death, several conspiracy theories prowl around his inventions and death. The conspiracy theory states that big amounts of ELF waves are transmitted to the ionosphere, which act like a mirror and reflects the waves on earth. These waves hit the earth and the potential energy is released causing natural catastrophes. In 1993, different divisions of the U.S. Government developed the High Frequency Active Auroral Research Program (HAARP), based on Tesla’s studies. According to the conspiracy theory the U.S. is using HAARP as a weapon against countries like Iran, Pakistan, Philippines and others as a weather weapon. This paper exposes Teslas life and his most important investigations, to recognize the conspiracy theories that surround him. 1. Nikola Tesla and his inventions This chapter contains some of the most relevant episodes in the life of Nikola Tesla and â€Å"his inventions†, based on his own publications before his controversial death. 1.1 His life and work Nikola Tesla was born in Smiljan, Croatia[1] in 1856, surrounded by a clergy family, who wanted him to enter the Greek Church after he graduated (Start Publishing LLC, 2013). In 1873 after he surviving from Cholera, he decided to enter in 1875 the Polytechnic School at Graz to become a mathematics and physics professor, and since his first year of studies, Tesla started to develop controversial experiments with a Gramme dynamo: he claimed the commutators were not necessary, leading him to change to the engineering curriculum (Start Publishing LLC, 2013). After finishing his studies and moving around Maribor, Gospic, Prague and Budapest, in 1882 he was hired in Paris by the Continental Edison Company dedicated to electric lighting, where he sees the chance to publish his work (Start Publishing LLC, 2013). Then he decides to go to the Unites States of America to work with Thomas Alva Edison (Start Publishing LLC, 2013). After publishing several patents, in 1888 he published his first work at Columbia University in New York: A New System of Alternate-Current Motors and Transformers, where he proved the commutators could be dispensed from motors, by using polyphase currents, which headed him to experiment more with AC and high frequencies, guiding to some of his most relevant inventions (Tesla, 2007). From that moment, until his death, Nikola Tesla developed and published hundreds of patents, articles and books, and received recognitions for his work. Finally in 1943 he died in New York due to unknown causes that will be further reviewed in the third chapter. 1.2 His inventions â€Å"Tesla was an inventor, but he was much more than a producer of new devices: he was a discoverer of new principles, opening many new empires of knowledge which even today have been only partly explored† (ONeill, 2007). As showed on his Life and Work, since Tesla was a young man he started researching and developing his own ideas, improving the motors and generators company. In fact, in 1888 he received the patent for the induction motor still used today (Tesla, 1904). Two years later, he founded with other investors in the Ames Power Plant, the first power station to transmit high voltage AC for long distances (Start Publishing LLC, 2013). The same year he would invent the Tesla Coil and transformer to power wireless lighting systems, which also contributed in radio as a system of transmitting electrical energy and an electrical transmitter as he called it (Tesla, 1904, Chapter 4). In 1899 Nikola Tesla detected a new geo-electrical phenomenon: terrestrial stationary waves, which supported his theory of electricity transportation around the world and later on it would be the basis of the World-Wide Wireless System (Start Publishing LLC, 2013). When in 1900 I obtained powerful discharges of 100 feet (in the Colorado Springs laboratory) and flashed a current around the globe, I was reminded of the first tiny spark I observed in my Grand St. laboratory and was thrilled by sensations akin to those I felt when I discovered the rotating magnetic field (Tesla, 1904). This is how Tesla’s most ambitious project started in 1901: the construction of the Wardenclyffe Tower to send wireless power around the world. Although he invested all his money on his research investors dropped the project and the Wardenclyffe Tower was never finished (Start Publishing LLC, 2013), leaving the uncertainty that still today is maintained if it is possible to send electricity all over the world. 2. The Conspiracy The conspiracy theories behind Nikola Tesla start with his controversial work and hard relationship with colleagues, and the apparent collaboration in the World War II, which supposedly led him to be murdered. Besides that, the use of his research as a basis to develop Weapons of Mass Destruction (WMD) is another conspiracy attributed to Tesla. There are basically two conspiracy theories behind Tesla’s life and work. The first conspiracy states that Tesla was murdered by powerful bankers from the U.S. because Tesla’s project to provide free energy to the world was not convenient for their economic interest, and the second conspiracy says that Tesla was murdered because some people thought that he had advanced studies to create WMD. To put into context this second theory, it must be taken into consideration that he died while the WWII was taking place and for this reason it can be deduced that, there were some interest on his projects from different military agencies around the world. One thing that cannot be denied is that Nikola Tesla had a brilliant mind, he developed several interesting projects which were decades ahead of their time. By the nature of his inventions, military intelligence circles or giant corporations could be interested on Tesla’s projects. 2.1 Tesla’s Death After Tesla’s death in January 1943, and because of the political-social-economic situation of the time (the WWII) the FBI and some other U.S. Government agencies could be quite interested in Tesla’s ideas and projects regarding weaponry. There was some fear that Tesla’s work could fall into the hands of Soviets or any other powers. Just right after Tesla’s death, his nephew â€Å"Sava Kosanovic† arrived at the hotel where his uncle died, but according to him, there were several technical papers missing as well as a notebook which was marked as â€Å"Government†. An investigator from the FBI said that the U.S. was â€Å"vitally interested† in saving Tesla’s documents, in deed envoys of the Office of Alien Property[2] went to Tesla’s room at the New York Hotel and collect all his belongings, Figure X (PBS, 2004). Figure X (http://www.pbs.org/tesla/ll/fbi_05.html) According to the website www.psb.org after the WWII, the interest of beam weapons grew up, and Tesla’s basic ideas were taking into consideration to develop these weapons, the papers that contain Tesla’s ideas were never found. Many years after this event, scientists have been looking for those papers without any success (PBS, 2004). There is another theory that says that Tesla was murdered by Hitler’s people, according to a guy called Eric Bermen, he was dating a girl, he say that the girl’s father was Otto Skorzeny a legendary SS (Schutzstaffel) involved in the WWII, and an officer-cadet from the Hitler’s bodyguard regime, Figure X. After Skorzeny death, Bermen collect data about Skorzenys Nazi cohorts and created an unpublishing manuscript in which reveal information such as: â€Å"Skorzenys role (with Reinhard Gehlen) in the assassination ofNikola Tesla(suffocation) on January 6, 1943 after tricking Tesla on January 5 into revealing the full details of his most important discoveries and then stealing his most valuable inventions, along with the contents of his safe, which were delivered to Hitler† (Adachi, 2007). Figure X (http://educate-yourself.org/cn/Skorzeny and Hitler 500w010.jpg) 2.2 Tesla’s HAARP project, the conspiracy behind The conspiracy theories about HAARP Electromagnetic waves would be used to make them collide with the ionosphere which would heat, resulting in an alteration of climate, including suspected that these same waves when falling on the earths crust would cause a series of vibrations which could give as a result, earthquakes and volcanic eruptions. Researchers and scientists believe that the increase in hurricanes, floods and droughts could have been caused by HAARP, HAARP meanwhile said that they only use a small part of the energy that are capable of generating, if so, what would happen if they use the billions of watts that produces the entire project? Even more adventurous opinions say that the mind control may be another objective of HAARP is now known that electromagnetic waves can lead to physical illness; alter the human psyche causing hysteria, hallucinations, items that would be used for crowd control. As we exposed previously, Tesla’s project HAARP had the purpose to delve into the effects of electromagnetic energy on the ionosphere. Conspiracists say that the development of this project had a sinister intention. They claim that HAARP is actually a WMD developed to break satellites and communication by blitzing the atmosphere with electromagnetic waves. These people believe for example, that the blackout in the North of the U.S. and South of Canada in 1993 was a consequence of the HAARP project (Theories Societies, 2008). For this reason, conspiracy theorists affirm that Tesla’s project about the transmission of electricity via wireless had been hushed up by the biggest electrical equipment companies. On the other hand, researcher Bertell R.[3] conducted a research about HAARP and she concluded that the HAARP program directed by the U.S. Air Force and the U.S. Navy was designed tounderstand, simulate and control ionospheric processes that might alter the performance of communication and surveillance systems and with this create the following effects: Produce low frequencies, as a way of communication with sunken submarines. Come to understand the natural ionospheric processes in order to modify or control them. Generate large amounts of high frequency energy, thus with this energy generate ionospheric processes that can be used for defense purposes. Modify some optical emissions which might be used to control radio waves and it’s propagation. So Bertell R. firmly believes that HAARP is not an isolated experiment but it belongs to an integral military program and claims that the project can be sold as random project to the public (Bertell, 1996). Below can be read some other scientists and agencies who think the Project HAARP has a dark side (Global Research, 2007): Prof. Michel Chossudovsky published an article in 2007 in which he state that â€Å"HAARP is a weapon of mass destruction, capable of destabilising agricultural and ecological systems globally.† Physicist Dr Bernard Eastlund called HAARP as the â€Å"the largest ionospheric heater ever built† The State Duma[4] claimed that the U.S. was creating large-scale weapons capable of break radio waves, provoke failures in electric systems, as well as in oil and gas pipelines and it could also affect the mental health of masses. Some people still claim that HAARP is a WMD waiting to be used by the military as a â€Å"death ray†. The credence is that the slight doses of microwaves sent to the ionosphere are just samples compared to the actual power of the machine. Actually they also think that HAARP could also conduct its rays anywhere on earth and can be used to trigger major weather disasters, earthquakes, mass brain damage on a global scale on request. HAARP is not operated by the military of the U.S. nevertheless the project is under the command of the DARPA (Defense Advanced Research Projects Agency) this means that somehow it has to be related to the defense of the U.S. 3. References ONeill, J. J. (2007). Prodigal genius: The life of Nikola Tesla. San Diego, Calif: Book Tree. Start Publishing LLC (Ed.). (2013). Inventions, Researches And Writings Of Nikola Tesla. Unites States of America. Tesla, N. (1904). My Inventions: Autobiographical Notes. Tesla, N. (2007). Experiments With Alternate Currents of H: Gardners Books. Adachi, K. (2007). The Revelations of Otto Skorzeny, Part 1 (Martin Bormann: Reichsleiter in Exile American Retiree) by Ken Adachi July 2, 2007. Retrieved September 01, 2014, from http://educate-yourself.org/cn/martinbormannphotostocompare02jul07.shtml Bertell, R. (1996). Background on the HAARP Project. Rosalie Bertell. Retrieved September 06, 2014, from https://www.globalpolicy.org/component/content/article/212/45492.html Global Research. (2007). Weather Warfare: Beware the US Military’s Experiments with Climatic Warfare | Global Research. Retrieved September 09, 2014, from http://www.globalresearch.ca/weather-warfare-beware-the-us-military-s-experiments-with-climatic-warfare/7561 PBS. (2004). PBS: Tesla Master of Lightning: The Missing Papers. Retrieved September 03, 2014, from http://www.pbs.org/tesla/ll/ll_mispapers.html Theories, C., Societies, S. (2008). No Title. [1] Smiljan used to be in the military frontier of Austra-Hungary. [2] TheOffice of Alien Property Custodianwas an office within the Government of theU.S.duringWWI and WWII, serving as acustodian of enemy property. [3] For more information visit http://www.globalresearch.ca/remembering-rosalie-bertell/31448 [4] State Duma was a legislative assembly, it does not exist anymore. [C1]Introduccion!!!

Dr. Linus Pauling - A Model of Courage Essay -- Argumentative Persuasi

The Strength of Character of Dr. Linus Pauling When it comes to moral courage, no one thinks of scientists. Moral courage brings to mind the Chinese protestor who leapt in front of a tank in Tiananmen Square, the conductors of the Underground Railroad who led slaves to freedom, and the freedom fighters of the Warsaw Ghetto, who fought to their deaths against the Nazis. The Chinese protestor, the northern conductor, and the Jewish resistance fighters were common people transformed by extraordinary times. Their moral beliefs led them into danger that was immediate, terrifying, and tangible. Some forms of moral courage are less obvious. In fact one of history's greatest examples of moral courage comes from a place no one would ever expect - the field of science. It may not seem possible to compare a man who worked in a laboratory to a man who guided slaves to freedom. After all, the Underground Railroad conductor physically risked his life day after day, but the danger that one brave chemist faced was just as real. A brilliant chemist, and a man of unshakeable moral convictions, Dr. Linus Pauling protected the human race from the unparalleled danger of nuclear war. Pauling's moral stand is a model for morality in science. During World War II the United States employed scientists on the top-secret atomic bomb program. Desperate for a weapon to use against Germany and Japan, the government recruited all the best American scientists. One of the few scientists to refuse to work on the bomb was Linus Pauling. It was a difficult decision because the Federal government was exerting a lot of pressure on him. In addition to the pressure, the project itself was hard to turn down. A scientist lives for a proj... ... will be responsible for using science morally. And that is why Linus Pauling is so important to me. In the face of great pressure and danger, he took a moral stand for his beliefs. He is my role model for his moral courage. Pauling's moral stand was not glamorous. It was not the glorious heroism of the movies. But if moral courage is supporting one's beliefs no matter what, then Pauling clearly was a hero. He was threatened by the atomic bomb no more than anyone else was but he alone decided to take responsibility for it. He knew the devastation of the bomb, and as a scientist, an American and a human, he refused to dodge his moral responsibility. Pauling is a role model and a moral hero because he bravely stood for morality on behalf of the human rare. 1 "Interview with Dr. Linus Pauling", Regents of the University of California, Berkley, 1996.

Newell Company Essay

1. Does Newell have a successful corporate-level strategy? Does the company add value to the businesses within its portfolio? * Newell’s corporate-level strategy focuses on the growth through acquisitions of companies that manufactured low technology, nonseasonal, noncyclical, and nonfashionable products that volume retailers would always keep on their shelf. These companies usually manufacture brand-name staple products that ranked #1 or #2 but may not be efficiently managed. * Newell’s goal is to increase its sales and profitability by offering a comprehensive range of products and reliable service to the mass retail channel. Newell has chosen to develop its product line through key acquisitions, rather than internal organic growth. The strategy succeeds based on their two pronged approach of following an established acquisition process (Newellization) and ensuring corporate continuity across the division to support its performance in the market. This strategy helps Newell successfully diversify their portfolio of products for mass retailers. 2. What are Newell’s distinctive resources? * Pricing model that that covers across all product categories: Newell used different pricing point, â€Å"good,† â€Å"better,† and â€Å"best† to meet all customers needs achieving the critical mess 3. What challenges faced the company in the late 1990s? * One of the main challenges in the late 1990s was the increase in customer buying power. By 1997, three mass retailer chains controlled 80% of the discount retailer market. This allowed retailers to obtain significant leverage over price and scheduling. * Another challenge in the 1990s was the acquisitions of Calphalon and Rubbermaid. These were both major stepping stones for Newell in that both companies will bring greater brand recognition to the Newell brand. It was a challenge because of the speed in which the companies were acquired and the short amount of time between the two acquisitions. At the time, Calphalon was in a different market, and Newell wanted to enter the department and specialty store competition. This required changes within the Newell Company because of a different view of products and competition. Rubbermaid was a difficult acquisition because of the vastness of the company in general. Some  industry observers worried that this target would be too large to be â€Å"Newellized.†

Jack Davis Essay

Jack Davis’s poems present a passionate voice for the indigenous people; it explores such issues as the identity problems, the wider sense of loss in Aboriginal cultures and the clash of Aboriginal and White law. This can be seen in the poems â€Å"Desolation† and â€Å"The First Born†. Both of the poems clearly emphasises the plight of the Aboriginals in today’s society. Through the first poem â€Å"Desolation†, the title already hints the poor situation they are in, with complete no recognition; they are devastating, isolated and miserable. By using first person in the Aboriginals voice, the poem is full of anger towards the whites who invaded their homes and ruined their balance with the land. â€Å"You have turned our land into a desolate place.† This was the first sentence of the poem, it is directly addressing to the reader suggesting the â€Å"white† people, this emphasises their enmity for losing their â€Å"mother† land which they have been living on for more than 40,000 years. In this piece, Davis also expressed their true conditions, feelings and emotional thoughts due to the whites’ invasion. â€Å"What are we? Where are we?† The voice is confused, helpless; they are not recognized, they are forced to live in a new way, in the white’s way, which is a torment for them to adapt and accept. â€Å"We are tired of the benches, our beds in the park. We welcome the sundown and heralds the dark.† It is suggesting they are homeless, they have not just lost their tribal life, land and rights, they do not even own a shelter for themselves, their way of living and culture have been complete wiped out by the whites, no longer have freedom, so disappointed to the society that they have no hope for tomorrow. Davis wrote this poem in the Aboriginal people’s voice, they are angry for what they are suffering, but they are also standing up for themselves, a better life and their justice, rights and recognition. The second poem â€Å"The First Born† also emphasises the poor situation the Aboriginals are in. Just like the first poem, it is also written in first person, but in a different angle, the â€Å"mother† land’s perspective. It uses lots of emotive language and negative words to present the enmity and hatred towards the whites â€Å"you whom I bore after†, whereas the first poem stated out their situation and true thoughts to emphasis the point. This poem used personification to show the inseparable connection between the Aboriginal people and their land as a mother and her child, â€Å"They were formed of my dust†, the passion towards the land is clearly