Competition in Energy Drinks Essay

Porter’s five-forces model reveals that the overall alternative beverage industry attractiveness is high. Some beverage companies, such as PepsiCo and Coca-Cola, have mastered the art of brand building in the alternative beverage market and have been rewarded with rapid growth rates. The rising population of health conscious consumers is increasingly leaning towards alternative beverages that are believed to offer greater health benefits. The strongest competitive force, or most important to strategy formulation, is the threat of entry of new competitors. Competitive pressure from rival sellers is high in the alternative beverage industry. The number of brands competing in sports drinks, energy drinks, and vitamin-enhanced beverage segments of the alternative beverage industry continue to grow each year. Both large and small vendors are launching new products and fighting for minimal retail shelf space. More and more consumers are moving away from traditional soft drinks to healthier alternative drinks. Demand is expected to grow worldwide as consumer purchasing power increases. Another strong competitive force is buyer bargaining power. Convenience stores and grocery stores have substantial leverage in negotiating pricing and slotting fees with alternative beverage producers due to the large quantity of their purchase. Newer brands are very vulnerable to buyer power because of limited space on store shelves. Top brands like Red Bull are almost always guaranteed space. This competitive force does not affect Coca-Cola or PepsiCo as much due to the variety of beverages the stores want to offer to the customer. As a result of this certain appeal, the two companies’ alternative beverage brands can almost always be found shelf space in grocery/convenience stores. Distributors, like restaurants, have less ability to negotiate for deep pricing discounts because of quantity limitations. The weakest competitive force is the bargaining power and leverage of suppliers. Most of the raw materials desirable to manufacture alternative beverages are basic merchandise such as flavor, color, packaging, etc. The suppliers of these commodities have no bargaining power over the pricing due to which the suppliers in the industry are relatively weak. Raw materials for these drinks are basic commodities which are easily available to every producer and have low cost which makes no difference for any supplier. Low switching costs limit supplier bargaining power by enabling industry members to change suppliers if any one supplier attempts to raise prices by more than the cost of switching.

Accounting Treatment of Intangible Assets

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

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The Cultural Perspectives and Values of Russia and Germany - Assignment Example In terms of individualism, Russia scored low while Germany scored high. This means that Germany believes in self-actualization while Russia believes in friendship and cooperation with neighbors and relatives. Russia also scored low on masculinity while Germany scored high. In this case, Germany values performance while Russia is concerned with the quality of life. The scores of Russia and Germany in terms of uncertainty avoidance were high; this indicates that both countries do not like ambiguous situations. The two countries also have a highly pragmatic mindset in which people believe that truth highly depends on context, time and situation. Lastly, the scores of the two countries in terms of indulgence were low, meaning that their cultures are restrained in nature. The Trompennar’s model is similar to the Hofstede’s mode; in many ways. Universalism versus particularism dimension of the Trompennar’s model is similar to the Hofstede’s individualism-collectivism. Therefore, Russia scored high on this dimension while Germany scored low. The Trompennar’s dimensions of achievement-ascription, neutral-affective, and specific-diffuse are similar to the power distance dimension of Hofstede’s model. This means that Russia scored high in these dimensions while Germany scored low. In terms of Hall’s theory, Russia has been considered as a high-context culture while Germany is a low-context culture. Diversity in the workplace and organizational culture also affect expatriate’s work because people are likely to face problems of gender, marital status, conversations at the workplace, use of non-verbal communication in both Germany and Russia. Furthermore, expatriates should consider the negotiation styles of the two countries. This report, therefore, focuses on dimensions of culture, workplace diversity, communication and negotiation styles of the two countries.

Recycling Tires Research Paper Example | Topics and Well Written Essays - 2000 words

Recycling Tires - Research Paper Example Tire recycling is also referred to as rubber recycling and it is described as the process of recycling used motor vehicle tires that are no longer fit for use on the vehicles as a result of irreparable damage or wear and tear (Schackelford, p. 1555). Due to their nature, tires are taken to be among the largest type of waste that is most problematic to deal with (Price and Edgar, p. 363). Their problematic nature during recycling is also attributed to the fact that they are produced in large volumes because of the high number of motor vehicles on our roads and due to their durability (Oskamp, p. 160). It is because of these same problematic characteristics of tires that make them to be one of the most commonly reused waste items due to the resilience of rubber that makes it suitable for use in other products (Porter, p. 176). This paper will define the problem of tire recycling in society and propose the possible solutions and treatments to the said problem. The Problem of Recycling U sed Tires Recent studies reveal that approximately one tire is disposed off by one person every year (Price and Edgar, p. 363). As seen in this paper, tires are essentially used in every motor vehicle, ranging from trucks, buses, tractors and cars among others. All these different types of motor vehicles make use of at least four tires, all with varying shapes, forms and sizes (Porter, p. 189). When tires are used for a significant period of time, they become naturally worn out due to the friction with the road and other damages such as punctures (Schackelford, p. 1555). This makes the said tires to be unsuitable for use on the motor vehicles and the need to replace them with new ones arises. The problem comes about with the large number of tires that are being disposed on a continuous basis (Carl, p. 98). According to statistics from population census results in different countries, more and more individuals, families and organizations are acquiring motor vehicles at the dawn of ea ch day (Ackerman, p. 57). With each motor vehicle comes at least four tires that will keep the vehicle running for some time and eventually need disposal and replacement because of the wear and tear that they succumb to. Other statistics also reveal that the number of tires being disposed is reaching threatening levels, especially if not disposed well (Burn, p. 612). With the amount reaching as high as 300 million, an alternative solution has to be sought so as to save the environment from the possible dangers that arise from careless disposal of tires (Porter, p. 112). More often than not, especially in the past years, used tires have been disposed by piling them up in yards or unoccupied fields of land. This normally forms a landfill (Porter, p. 115). In the past years, discarded automobile tires used to be discarded in piles that were usually an eyesore to many people (Carl, p. 28). The same tires would also be a problem because of the fire hazard that they brought to the surroun ding environment. This was before many people had taken environmental protection seriously and did not understand the need to dispose off tires properly (Price and Edgar, p. 364). The Environmental Protection Agency in the United States of America reveals that the number of scrap tires that are generated in the United States alone each year is slightly above 290 million (Price and Edgar,

Common Wealth Alliance Case Essay Example | Topics and Well Written Essays - 750 words

Common Wealth Alliance Case - Essay Example Due to low-income, they do not qualify for enrollment by other insurance agencies. Cutting down on healthcare costs, which CCA advocates for, is thus necessary. The model involves a strategy that promotes patient-centered healthcare making medication affordable. CCA adopts an approach that facilitates quality health support to the elderly and disabled patients with complex needs. It appreciates simplified ways of avoiding medical complications such as multiple medical specialists for an elder suffering from chronic illness. It not only makes healthcare provision undemanding but also affordable for its beneficiaries. Senior care plan focuses on enhancing flexible and continued care for the elderly. Unlike other insurance models, CCA prefers adult day care to nursing homes. Care providers are volunteers organized into care delivery networks. CCA program also entails joint contracts with Medicare and Medicaid, for example, the operation of three Massachusetts care programs in May 2007. CCA’s senior care options (SCO) program eligibility is broader than that for other insurance providers. Elderly beneficiaries do not have to be nursing home certifiable. Notably, it admits younger patients with complicated health conditions. Specific servicers offered depend on the needs of the patient and their availability in the local setup. Teaching patients self-care and provision of home health aides reduces the necessity for nursing home placement. SCO fund services not covered by Medicaid. Funding of services not covered by Medicaid presents beneficiaries with reliable quality services. Apart from the services mentioned above, patients also enjoy skilled nursing care and transportation. It includes all components of care either directly or through subcontracts. CCA aims at bringing better health care to its beneficiaries. Central to CCA’s goal is the improvement in self-management of multiple recurring illnesses. Once acquired, self-care skills are

Letter to Congress Essay Example for Free

Letter to Congress Essay My name is †¦ and I am writing as your constituent in the 53rd Congressional district of California. I am writing to ask you to cosponsor Rep. John Conyers Expanded and Improved Medicare for All Act (H.R. 676). United States House of Representatives Bill Number 676 is the proposed U.S. legislation to establish single-payer health care, improved Medicare for All, in the United States. It will establish lifelong, comprehensive coverage for health care. A single-payer system would take the charge of insurance premiums off of employers and put it on the people as a nation, where it belongs. I cant think of a more pro-business step that Congress could take at this time. Its also the right thing to do, the humane thing to do. Obamacare doesnt address the lack of sustainability of our healthcare system. It won’t keep insurance prices down, more than 30 million people will remain uninsured, and insurance companies will manipulate their way out of any imposed regulations. We will no longer be paying for a system that wastes $400 billion in excessive administrative costs, more of our health care dollars will be spent on health care, and more of the doctors and nurses time will be spent on caring for people. The result will be more time spent on prevention and wellness and the U.S. dramatically raising its life expectancy. As a Registered Nurse who has been employed at various managed care payers, I know firsthand the corruption and abuse that is typical of health insurance companies. It is political corruption that has allowed this situation to continue. Right now Congress and the President are fighting over how much to slash Medicare and Medi-Cal/Medicaid benefits. The American people dont want to see this happen. National, single-payer healthcare (H.R. 676) is pro-business, and pro-people. Please co-sponsor today. Thank you for your time and attention.

Summary of Story of an Hour Essay Example for Free

Summary of Story of an Hour Essay Audience Analaysis I am writing this paper to be reviewed by my fellow peers and my English 111 Instructor. The paper would not be very interesting if read by anyone that has not read â€Å"The Story of an Hour. ’ The audience that I am targeting is for those that would like to know the purpose of the short story, â€Å" The Story of an Hour†, written by Kate Chopin. I believe the story to not be intended for s specific age or gender, but I would have to say that women would be more prone to understanding and sympathizing with the story. I expect the reader to understand the story deals with the pro’s and cons of marriage. I was able to understand the story due to my experiences in marriage, the up and downs that go along with it. I can relate to the feeling of relief when something that is not making you happy suddenly disappears, how extremely happy you can be, but when the good news turns in to being devastating news, how it can turn your world upside down, that it could cause you to have health problems. The Story of an Hour Author Kate Chopin, grabs her audience’s attention in this short story by introducing the main character, Mrs. Mallard; a woman with â€Å"heart trouble. (Chopin 527) who must be gently told the news of her husband’s untimely death in a railroad accident. The opening marks a sad scene with Josephine, her sister breaking the difficulty news to her in â€Å"broken sentences. † (Chopin 527) Mrs. Mallard’s reaction, â€Å"wept at once, with sudden, wild abandonment in her sisters arms† (Chopin 527) may be unlike most wives reaction to horrifying, unexpected news. Seemingly grief stricken, Mrs. Mallard retreats to her room in solitude. She drops her heavy body into a comfortable chair contemplating her feelings of the past, present, and future. Mrs. Mallard struggles with mostly internal conflicts with regards to her true feelings of the recent death of Brently her husband. One example, being when she repeatedly whispers from her lips â€Å"Free! Body and soul Free! † (Chopin 528) Her sister begs her to come out of the room â€Å"Louise, open the door! I beg; open the door—you will make yourself ill. † (Chopin 528) She orders her to go away but within a good length of time reveals her strong self and accept Josephine’s comfort. Suddenly, a man comes through the front door. It is her husband, Brently, alive and well. To everyone’s surprise it was, and especially to his wife. She dies there of what the doctors say was â€Å"heart disease—a joy that kills. † (Chopin 529) Once Mrs. Mallard hears of her spouse death, her behavior and internal feelings may or may not be questionable to the reader. I believe Chopin wants us to see the main character’s internal emotional struggle. This keeps us wanting to know more about what life was like with Brently Mallard. Was she really sorrowful about his death? â€Å"And yet she had loved him—sometimes. † (Chopin 528) Was she truly a happy person, heart and soul? She was young, with a fair, calm face, whose lines be spoke repression and even a certain strength. † (Chopin 527) t times she is overcome by a mixture of emotions such as sadness, quiet, and yes even joy. â€Å"She did not stop to ask if it were not a monstrous joy that held her. † (Chopin 528) Mrs. Mallard finally settles in the belief and thought of being on her own now. â€Å"She would live for herself. † (Chopin 528) After reading â€Å"The Story of an Hour’, I realize that the man character is a lonely woman when it comes to her emotions. The whole story reminds me of what a woman goes through when she is controlled by her spouse. Mrs. Mallard doesn’t even have a first name in the story, only her descriptive emotions that she holds deep inside. Through out this story the author uses symbolism. For example, â€Å"there were patches of blue sky showing here and there through the clouds. † (Chopin 527) I think the clouds represent disparity and the blue parts of the sky meant hope for her. The big open window is her life’s picture window! She sees â€Å"new spring life† (Chopin 527) and takes in a â€Å"delicious breath of rain.

Caryl Churchills Top Girls English Literature Essay

Caryl Churchills Top Girls English Literature Essay Caryl Churchill has a reputation for producing work that examined contemporary issues, often in challenging and confrontational ways and Top girls is no exception. It can be seen in the light of a feminist play due to the reoccurring question that comes up while reading the play of what it means to be a successful woman. Throughout this essay, I will show what is wrong with being a `top girl ´. At the beginning of the play you are introduced to the main character, Marlene, who is a top girl. A top girl being: a woman who is successful in her career. During the play you become aware that Marlene is at the peak of her career and has come a long way from working class to almost upper middle class but that she has made some sacrifices along the way to attain her position. First, she gave her child to her sister, Joyce (p. 80). Next to that, it appears that she has also sacrificed her personal life. She seems to have no real friends to invite to the dinner party and therefor invites historical women. Marlene also has difficulties to find a man that will accept her as the successful woman that she is and that will not try to change her into a `little woman ´ (p. 83). Although Marlene built herself up in her career and is an educated woman, in a different perspective, she is not a top girl. She was not able to manage everything she had and succeed while dealing with it all; hence leaving her child to her sister. According to Marlene she had to choose between her career and being a mother (p. 80). However, Marlenes sister Joyce has sacrificed her personal life and goals to raise her sisters child. Leaving us to question, what good is it being a top girl if its at the expense of other women? According to a feminist view of equality, drive, ambition and ability, Marlene should have been able to juggle her career and her motherhood. She should have not worried about missing out on opportunities. You can conclude at the end of the play that Marlene is not a feminist at all but that she is very much an individualist: `I believe in the individual ´ (p. 84). She worries about herself and her own needs instead of rising to her own personal responsibilities. She believes that everyone creates their own luck because, as she tells her sister Joyce, `Anyone can do anything if they ´ve got what it takes ´ (p. 86). Marlene is a manager at a top girl company and is holding interviews for people to work at the company. During the interviews you notice how ruthless and cold (p. 46) Marlene is in relation to the working world and to who is or is not qualified enough to get the position. You see her take the role of a very business-like male attitude (p. 31). She interrupts the interviewee during their meeting and is very direct in telling them whether they have potential to join the company or not (p. 30). Moreover, Marlene is very aware of her potential and believes that men and woman should have the same rights/opportunities. She makes this clear when she discusses with Howards wife, the man who lost the management position to her, about how the position was given to the most deserving person (p.p 58-59). Howards wife picks up on her male attitude and accuses Marlene of being masculine and unnatural (p. 59). Her co-workers hold the same view as Marlenes, in relation to rejecting the traditional female aspirations of starting a family, and they would rather focus on their careers like Marlene did (p. 58). One co-worker, Nell, does not want to get married (p. 48) and the other, Win, is having an affair with a married man (p. 45). In Act 2, scene 3 you hear Marlenes co-workers talking about their weekend. Win suggests that Nell could get married and continue working. Nells response is a very unnatural one; `or I could go on working and not marry him ´ (p. 48). She is happy to use men for her own pleasure but not to commit to any. When the play was written, in 1982, this response would have been seen more as a male response than a female due to the fact that this was far more a male attitude to have than a woman. All women in this company hold a very professional tone to themselves but they also all adopt very much a male role in relation to their careers and taking care of business (p. 46). Generally women want to settle and start a family, but because they are such business-like women they do not see the need of this and find themselves already fulfilled with their high ranking, successful jobs. Additionally none of the co-workers, like Marlene, are true top girls. They have adopted male behavior instead of developing their own woman inspired role models. They have not excelled in anything besides their career. What is also fallacious about these `top girls ´ is that they do not see men as equals at all and at times discuss their male clients with the term `pretty ´ (p. 50). This presents us with their very degrading view of how they see men in the business environment; however it also shows that they have enough confidence to address men in these terms. One of the aims of the Womans Liberation movement in the 1970s was to change the terminology used to address women such as, baby, sweetie, girl, bird†¦ Interestingly enough these `top girls ´, in the play, use the same terminology to call each other (p. 48, 64). It seems that to them it is ok to call each other these terms but not to have men call them that; which defeats the purpose of female equality and gives a sense of female superiority. You could also say that these top girls do not consider themselves as women but see themselves as successful `people ´ so they do not fall in the category of women fighting for/supporting that issue. Although all woman in the play, after the first act, that are considered as `top girls ´ are woman who have excelled in their career you could argue that Joyce, Marlenes sister, is somewhat a top girl herself. Despite the fact of not having a successful career she is the only character in the play that tries to manage her responsibilities. She has several different jobs, is raising her sisters child and still holds the responsibility of checking on her mother, like she informs Marlene `somebody has to ´ (p. 79). The first scene in the play shows what true top girls were before the feminist movement. It reveals the obstacles that they had to overcome and the freedom that woman nowadays have and take for granted. The women in the first scene are all women who have suffered in some way and have succeeded in being great without the need of going over other women to get there. They succeeded in the dominate-male world they lived in. This is the opposite of how Marlene has succeeded. Marlene succeeded at the expense of other woman. In Act 1 Marlene raises a toast To our courage and the way we changed our lives and our extraordinary achievements ´ (p. 13). The use of `we ´ and `our ´ are very significant; it shows that Marlene considers herself as a woman who has struggled for her success but that has finally gained personal fulfillment. On the contrary, the other women have been through much more than Marlene ever did. These past woman are the true top girls who have been through it all in order for the next generations of woman to be free and independent. It is striking that the only top girl that was obedient to men, Griselda, is the only one who is happy and pleased in her life. You could say that Griselda shows that virtue is its own reward. Marlene never waited for things and made things happen herself; which leads to an intriguing comparison between these characters. Griselda obeyed and waited and in the end is content and happy, while Marlene created her own success but abandoned other important things in her life to get there and is now unsatisfied. You see Marlenes dissatisfaction throughout the whole play, with her drinking, having abortions, not finding a suitable man and trying to make amends with her sister. In conclusion, the title is called `Top girls ´ with an `S ´. The play explores the different versions of `top girls ´ in different eras. These distinct versions of `top girls ´ demonstrates the diversity of womankind. The play demonstrates that women do not have only one quality or one thing that characterizes them like: career women, wives, mothers, daughters or sisters; they are complex individuals like any human being and have to juggle priorities and responsibilities to achieve what they consider to fulfill themselves. These varieties of qualities that women have and that are able to juggle with in life are what should make them a true top girl. Word count:

9-1-1: An American Emergency :: September 11 Terrorism Essays

9-1-1: An American Emergency When hijackers coordinated the take-over of four passenger planes on September 11, they sent out a 9-1-1. It was truly an emergency call. Emergency comes from emerge and emergence, from the Latin word for to plunge out--it means to rise from, to come out into view. We have listened to stories of rescue and sacrifice. We have watched First Responders, the Fire and Emergency Medical teams that are first on the scene of a disaster. We have recognized so many people as the heroes they are. But it's not over. There is plenty of emergency response work still to be done, over a long period of time, and this gives us all a chance to be heroes in our own way. It was an airport security emergency and an air traffic control emergency. It was a national security emergency. It was a crisis management emergency. It was a belief and reality emergency--days later, I heard people repeating "It's not real, it's not real" and "I can't believe it." It was a shock and grief emergency, and experts say the trauma will go on for months and years. Some people are already discussing rebuilding on the site in lower Manhattan, but who will want to have an office to do business on a mass grave? It was a political emergency, and the government mobilized. It was an intelligence emergency--why didn't we know enough to prevent it? It was a religious and spiritual emergency--how can we understand the purpose of death and destruction on this scale? It was a patriotic emergency-- how do we respond to an "Attack on America?" It was a peace and justice emergency--do we have a repertoire of response that does not take the form of violent retaliation and retribution? It was a democracy emergency--how do we preserve our principles in adversity? It was a tolerance and understanding emergency--how do we keep from turning against people from other religious and cultural groups, ethnic groups and nationalities that we identify with the criminals, the enemy?

Essay on Narcissism and Metadrama in Richard II -- Richard II Richard

Narcissism and Metadrama in Richard II  Ã‚  Ã‚      Over the last thirty years, Shakespeare criticism has demonstrated a growing awareness of the self-reflexive or metadramatic elements in his works. Lionel Abel’s 1963 study, Metatheatre: A New View of Dramatic Form, provided perhaps the first significant analysis of the ways in which Shakespeare thematizes theatricality, in the broadest sense of the term, in his tragedies, comedies, and histories. In his discussion of Hamlet, he makes the observation—perhaps a bit commonplace and obvious to us thirty years later—that the famous â€Å"play within a play† is only the most blatant example of self-conscious technique found throughout the tragedy: once we begin to look closely, we notice that nearly â€Å"every important character acts at some moment like a playwright, employing a playwright’s consciousness of drama to impose a certain posture or attitude on another† (46). Elsewhere in his book, Abel argues implicitly that Shakespeare, though he often used metadramatic techniques more in the interest of developing character than creating â€Å"an event,† the way later playwrights do, nevertheless composed plays which â€Å"are theatre pieces about life seen as already theatricalized† (60). In making such statements, Abel laid the groundwork for a number of subsequent studies, from Thomas F. Van Laan’s Role-Playing in Shakespeare, which appeared in 1978, to Judd D. Hubert’s more recent Metatheatre: The Example of Shakespeare.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Critics following Abel’s lead have been especially interested in Shakespeare’s second tetralogy. James L. Calderwood, for instance, reads the Henriad as Shakespeare’s reflection not only on a period of British history during which political authority, political â€Å"truth,... ...l. Metatheatre. New York: Hill and Wang, 1963. Calderwood, James L. Metadrama in Shakespeare’s Henriad. Berkeley: U of California P, 1979. Dean, Leonard F. â€Å"Richard II: The State and the Image of the Theatre.† PMLA 67 (1952): 211-18. Eagleton, Terry. Literary Theory. Minneapolis: U of Minnesota P, 1983. Glasser, Marvin. â€Å"The Poet and the Royal Persona: Lyrical Structures in Shakespeare’s Second Tetralogy.† Modern Language Quarterly 50 (1989): 125-44. Hubert, Judd D. Metatheatre: The Example of Shakespeare. Lincoln: U of Nebraska P, 1991. Lacan, Jacques. Ecrits: A Selection. Trans. Alan Sheridan. New York: Norton, 1977. Shakespeare, William. Richard II. Shakespeare: The Complete Works. Ed. G. B. Harrison. San Diego: Harcourt Brace Jovanovich, 1948. 430-67. Van Laan, Thomas F. Role-Playing in Shakespeare. Buffalo: U of Toronto P, 1978.

The Canadian Governing System is not Fair or Democratic Essay -- essay

There are Canadian citizens who thought that the Canadian government we have is perfect, citizens who believed that every aspect of the government was truly democratic, and citizens who believe that government could do no wrong. Truly this group of believers has been living a lie. In our Canadian system of government, large aspects within are far from democratic and need to be changed. Liberal-minded people will cry out for a change in order for government to serve the people better, and on the other hand the more conservative thinkers will argue that no change is needed because our government is efficient and considerate. However, our voting system, our Senate, and the power vested to the Prime Minister are far from democratic, do not meet the actual needs of the people and definitely need to be addressed. Canada itself claims to be democratic, yet the Canadian Senate is appointed to office by the current Prime Minister rather than elected by the citizens. The original purpose of the Senate was to give fair representation between provinces and to the citizens. Having failed its purpose, clearly there are issues within the Senate that need to be addressed. Because of the Prime Minister appointing the Senators, they will now serve the Prime Ministers needs rather than the people who they should have been listening to. As if this were not enough of a show of power for the Prime Minister, the Senators cannot be lawfully kicked out of office until the age of seventy-five. An example of Senate idiosyncrasy in Canadian government is Ross Fitzpatrick, who was appointed to office by former Prime Minister Jean Chretien of the Liberals in June 1990. His official opponent, Preston Manning, rightfully questioned the circumstances regardin... ...e a lot of parties are going to be running for office. However, for the fringe parties this creates a major advantage for them. With the load of political parties in the House of Commons, there would be a wider range of interests for people but there would be a lot of indecision and coalitions. It is cold hard fact that Canadian government is not entirely democratic. The question remains of how to deal with this. Canadian government, as effective as it currently is, has major factors in their system that have a negative effect on Canadians. Our current voting system favors the higher-populated provinces and creates a tyranny of the majority. Our Senate is distinctly undemocratic as it is an assigned position. Our head of State, the Prime Minister, holds too much power. Unless we resolve these issues, our government will remain far from a perfect governing system.