Looking Back. At The Beginning Of The Semester I Can Honestly

Looking Back At the beginning of the semester I can honestly say I had no idea what to expect with this class. All I knew was that I had to take one of the possible three choices to go towards my Education English Minor. For quite a few years now I have begun to read more than I ever had in my life. Growing up as a child I never wanted to read, unless it was with my grandmother, and even then, I had to be in a specific mood. Still, even though I have been reading, I can promise you they are not any highly-prized novels; most of them are all romance novels. Because of these experiences, and after entering the classroom and finding out what novels we would be reading, I became a little nervous. My reading experiences before this class had†¦show more content†¦I have learned to see the importance in breaking a text apart to find the deeper meaning, and how there almost always is one if you’re willing to search for it. In connection with what I have said, I have also enjoyed making connections with the text; connections to myself and connections to the world. Even if I did not particularly enjoy the text we were reading, my appreciation for it was still there. In the past, if I hated a book that was pretty much it and I wouldn’t give it a second thought. Now, however, things have changed. For example, I did not particularly enjoy reading the Mary Rowlandson text. Even though I didn’t enjoy reading the text particularly, I did enjoy listening to and taking part in, the conversations in the class that came out of the text. I can also appreciate the possibilities of why she wrote it, and what the implications have been because it was written. If I had to choose one thing in particular that I enjoyed the least, I know you’re going to hate me for this, but it was probably the poetry. I know you have said that it is a clichà © to say, â€Å"I have never really understood poetry,† but for me I still feel that is relevant. I have never really been exposed to poetry to be honest. Throughout elementary, the only time I was ever really exposed was during speech competitions my small private school put on in which we had the option to try and memorize. In upperShow MoreRelatedMy First Online Semester At Sussex And Wow866 Words   |  4 PagesHere I am already halfway through my first online semester here at Sussex and wow has it gone by really quickly. It was just seven weeks ago that we all started here and even though the first half of it is over, we all got a long road ahead of us until we reach the end of the semester. Some people can make the mistake of starting to wind down because of the fact that it’ s almost over. We just got to stay focused and not take anything for granted. 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I personally have made a lot of mistakes staringRead MoreThe Discourse Of A Discourse Community889 Words   |  4 PagesTexas at Arlington I can say I have been in several organizations that have challenged my social skills. However, they were nothing compared to the discourse community I was a member of. It will be proven time and time again that I indeed was not only a member but also a valuable asset to this community. Let us ponder for a moment on what a discourse community actually is. It consists of many components involving but not limit ed to ethos, pathos, and logos. All three of which I possess and have masteredRead MoreExam Process At Burgmann As A School871 Words   |  4 Pagesschool. I have been stewing on the process for two years now, to the point that, I have enrolled my son at Gungahlin College because I honestly don’t know if as a family, we can go through another two years of the stress and temporary destruction it brings to us. 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Religion in Shakespeare - 1024 Words

The religion of William Shakespeare is a subject about which very few people have a complete understanding. His plays and poems contain an almost overwhelming number of biblical references and allusions to biblical thinking, which can be seen as either Protestant or Catholic in understanding. His concealment of various understandings and interpretations of religious ideology make it difficult to ascertain his own religious beliefs, however, through further analysis of [insert names of plays], once can begin to understand the socioeconomic issues he sought to raise through his biblical allusions. Sandra Hole’s The Background of Divine Action in King Lear comments on how the play â€Å"is a religious rather than a secular play in the sense that its real focus is not on the hero but on the background of divine action.† (Hole, 217) A lot of Shakespeare’s plays are set in religious environments were allusions to Protestant and Catholic doctrines reflect Britainâ€℠¢s religious stance in that period of time. The original source material for King Lear, The moste famous Chronicle historye of Leire king of England and his Three Daughters, was abandoned, with Shakespeare’s play being set in pre-Christian Britain. This may be indicative of Shakespeare’s desire to reduce the characters to basic states of religious or atheistic belief, so as to question religion itself. The characters in Shakespeare’s King Lear are represented as belonging to varying degrees of religious beliefs, fromShow MoreRelated Essay on Religion in the Works of William Shakespeare1720 Words   |  7 PagesReligion in the Works of Shakespeare       The purpose of this essay is to explore the religious nature of William Shakespeares plays. This essay covers three topics surrounding Shakespeares work: the religious climate of 16th Century England, Shakespeares upbringing (school, parents, Stratford itself), and a brief introduction into the impact his society and upbringing had upon his work.    I. THE RELIGIOUS CLIMATE OF 16TH CENTURY ENGLAND    In order to understand the religiousRead MoreHamlet By William Shakespeare : Religion Is A Key Theme865 Words   |  4 PagesIn the play Hamlet by William Shakespeare, religion is a key theme in the play. Throughout the play Hamlet struggles with trying to avenge his fathers death, and how that would impact his and other’s standing with God. 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A Weapon for Self Defense Free Essays

A Weapon for Self Defense The following celebrities have stated his or her stance on gun control in the following quotes. Ted Nugent states, â€Å"To my mind [sic] it is wholly irresponsible to go into the world incapable of preventing violence, injury, crime, and death. How feeble is the mindset to accept defenselessness? How unnatural. We will write a custom essay sample on A Weapon for Self Defense or any similar topic only for you Order Now How cheap. How cowardly. How pathetic. (Buckeye Firearms Association 2009). Clint Eastwood also states, â€Å"I have a strict gun control policy: if there is a gun around, I want to be in control of it. (Buckeye Firearms Association 2009). Finally, James Earl Jones was quoted as saying, â€Å"The world is filled with violence. Because criminals carry guns, we decent law-abiding citizens should also have guns. Otherwise [sic] they will win and the decent people will lose. † (Buckeye Firearms Association 2009). Are these quotes to be considered opinionated views? Perhaps, but each is logical and valid. Should law-abiding citizens have the option to own and carry a gun for the use of self-defense? The answer is yes. While gun control advocates fight for stricter gun control laws; anti-gun control supporters believe that stricter gun control laws will limit and prohibit a citizen’s Constitutional right to â€Å"keep and bear arms†. There are enough extensive gun control laws already. Creating and passing stricter gun control laws would only make it more difficult for law-abiding citizens to protect his or herself. Self-Defense Guns are used 2. 5 million times a year in self-defense (Gun Owners of America 2004). What is this organization and who are they to provide such a startling statistic? The Gun Owners of America is an organization created in 1975 and currently has 300,000 members. Gun Owners of America was founded, â€Å"to preserve and defend the Second Amendment rights of gun owners. † (Gun Owners of America 2004). With a statistic like that, what law-abiding citizen would not want to own a gun for self-defense? The Gun Owners of America (2004) further states that: Law-abiding citizens use guns to defend themselves against criminals as many as 2. 5 times every year – or about 6,850 times a day. This means that each year, firearms are used more than 80 times more often to protect the lives of honest citizens than to take lives. (Gun Owners Foundation, 2004 p. 1) To support the issue of self-defense further, the article, â€Å"Is Gun Ownership Dangerous† (2009) describes the reasons for the right of an individual to own and use a gun in self-defense. The most significant dispute that supporters of gun rights argue consists of the right for each individual in our American society to be allowed to have possession of a gun and is allowed to exercise the right to use a gun for means of self-protection. Gun right advocates suggest that police officers are unable to defend individuals in their house, vehicles, or communal places from criminal offenders, because the officers usually enter the scene of the crime subsequently to the crime taken place. In concurrence with this observation, an individual’s only defense if he or she fall victim to burglary, sexual attack, or murder; is having a device that will permit him or her to defend him or herself. In many arguments, gun supporters suggest, if an individual presents a firearm in observation of a criminal, this simple act might be all it takes to discourage and inhibit an offense from occurring. If an assailant persists, supporters of gun rights state that an individual possessing a firearm still has the opportunity to avoid any risk of being assaulted (Guns and Crime, 2009). Gun Control Laws According to the above stated statistics, why do gun control advocates continue to fight for stricter gun control laws? The National Rifle Association Institute for Legal Action does not believe that stricter gun control laws are necessary. Who is this group and what do they stand for? The National Rifle Association Institute for Legal action was founded in 1975 and currently has 300,000 members. This group consists of anti-gun control advocates who are dedicated to protecting the right of all United States citizens to procure, own and utilize firearms for lawful reasons as pledged within the United States Constitution within the Second Amendment. Andrew Arulanandam, the National Rifle Association’s Director of Public Affairs stated, â€Å"We have adequate gun laws on the books and if a crime occurs, those criminals need to be prosecuted to the fullest extent of the law. The question becomes how do you [sic] make something that is already illegal more illegal. † [sic] Jost (2008). Furthermore Jost (2008) reveals the following: Gun advocates – including the powerful, 3-million-member National Rifle Association – defend what they view as an individual constitutional right to use firearms in hunting, sport shooting and self-defense. They argue that gun owners and dealers are already subject to a web of federal, state and local firearms laws and regulations. The key to reducing gun violence, they say, lies with tougher penalties against criminals who use guns, instead of more restrictions on gun owners. Jost, 2008, p. 2) The resolution lies in stricter laws and enforced punishments for illegal gun usage and sales, not stricter laws that prohibit or exclude law-abiding citizens from obtaining and owning guns for self-defense. However, the Brady Center to Prevent Gun Violence is determined to prove individuals and officials otherwise. T he Brady Center to Prevent Gun Violence is an organization that guides the fight to prevent gun violence, along with other grassroot organizations. The Brady Center to Prevent Gun Violence originated from an organization known as Handgun Control, Inc. Jim and Sarah Brady are the founders of the Brady Center to Prevent Gun Violence. Jim Brady was the Whitehouse Press Secretary when Ronald Reagan was in office. Brady and the former President were both shot by John Hinckley who attempted to assassinate President Ronald Reagan in 1981. (Brady Center to Prevent Gun Violence 2009). According to the Brady Center to Prevent Gun Violence (2009), its goal is stated that, â€Å"As the Brady Center, we work to reform the gun industry by enacting and enforcing sensible regulations to reduce gun violence, including regulations governing the gun industry. What has this organization accomplished? The answer is The Brady Law. The Brady Handgun Violence Prevention Act, also known as â€Å"Brady Law† was signed into law on November 30, 1993, and went into effect in February 1994. In its original form, the Brady Law required a five-day waiting period and background check before completion of the sale of a handgun. Unfortunately, the gun lobby was able to weaken the Brady so that on November 30, 1998, the five-day waiting period for handgun purchasers expired. It was replaced by a mandatory, computerized National Instant Check System, which provides the information for criminal background checks on all firearm purchasers, not just those buying handguns. The results were devastating. (Brady Campaign to Prevent Violence 2007) What have stricter gun control laws contributed to so far? Death, as explained in the following cases. Erich Pratt is the Director of Communications for the Gun Owners of America. Pratt (2001) stated that, â€Å"ten years ago this month, a Brady –style waiting period resulted in the death of Bonnie Elsmari of Wisconsin. † This is Bonnie Elsmari’s story: In March of 1991, Bonnie had inquired about getting a gun to protect herself [sic] from a husband who had repeatedly threatened to kill her. She was told there was a 48 hour waiting period to buy a handgun. But unfortunately, Bonnie was never able to pick up her gun. She and her two sons were killed the next day by an abusive husband of whom the police were well aware. (Gun Owners of America 2001). This is Rayna Ross’s story: On June 29, 1993, at three o’clock in the morning, a 21-year-old woman named Rayna Ross was awakened by the sound of a burglar who had broken into her apartment and entered her bedroom. The burglar was her ex-boyfriend, a man who had previously assaulted her. This time, having smashed his way into her apartment, he was armed with a bayonet. Miss Ross took aim with a . 380 semi-automatic pistol and shot him twice. The burglar’s death was classified as a â€Å"justifiable homicide† by the Prince William county commonwealth’s attorney, which determined that Miss Ross had acted lawfully in shooting the attacker. Here’s the real scary part to this story, Miss Ross had bought her handgun one full business day before the attack, thanks to Virginia’s â€Å"instant background check. Virginia’s 1993 Democratic candidate for the governor, Mary Sue Terry (endorsed by Handgun Control, Inc. ), proposed that although the Virginia instant check already checks all handgun buyers – Virginia handgun purchasers should undergo a â€Å"cooling-off period† of five business days. Had the proposal been law in Virginia in 1993, Rayna R oss would now be undergoing a â€Å"permanent† permanent cooling off period. This is Catherine Latta’s story: In September [sic] 1990, Catherine Latta went to police to obtain permission to buy a handgun. Her ex-boyfriend had previously robbed her, assaulted her several times, and raped her. The clerk at the sheriff’s office informed her that the gun permit would take two to four weeks. Ms Latta told the clerk, â€Å"I’d be dead by then†. That afternoon she went to a bad part of town and bought an illegal $20 semi-automatic pistol on the street. Five hours later, her ex-boyfriend attacked her outside her house, and she shot him dead. Fortunately in this case, the county prosecutor decided not to prosecute Ms. Latta for either the self-defense homicide, or the illegal gun. Now why is it, that stricter gun control laws are needed? Gun control laws have contributed only innocent people dying. Gun control advocates believe that stricter gun control laws will reduce violence, prevent accidental deaths, and deter crime. There has been no proof to show that by enforcing stricter gun control laws, violence will decrease. There has been no evidence that enforcing stricter gun control laws criminals will be deterred from committing violent crimes. However, it is evident that the enforcement of stricter gun control laws will hinder a law-abiding citizen the ability to own a firearm for self-defense. The citizens of the United States have the right to protect themselves and their families. Although many gun control advocates will continue to try to infringe on the gun rights of the law-abiding citizens of the United States, Americans who take advantage of their Constitutional right to bear arms, will continue to legally possess a firearm and furthermore continue to support anti-gun control advocates in their on-going efforts to defend our freedoms. Do individuals want to be part of the effort to defend our freedoms, therefore choosing the right to possess a gun in order to protect themselves and their families? The answer is yes. How to cite A Weapon for Self Defense, Papers

International Financial Reporting Business Estate Industry

Question: Describe about the International Financial Reporting for Business Estate Industry. Answer: a. Impacts Of Ifrs 16 On Real Estate Industry- S P Setia Berhad Group The key impacts expected to be witnessed by S P Setia Company As A Result Of IFRS 16 includes the following. From a perspective of a lessor's P Setia being in real estate industry might experience an increase in its operational costs as a result of revised lease terms by lessees. This is because there is an anticipation of the existing lessees to negotiate their lease terms ,to be short term and include more variables costs , in an endeavour to mitigate the adverse effects of reporting on their balance sheet. Therefore, a shift in trend will see S P Setia profits margins being affected negatively as a result of transferring the variable cost burden to them by lessees(EarnestYoung, 2016) Another notable effect in S P Setia company will be a shift from its existing leasing business currently valued at $ 7,117,543.00 million to the business of real estate selling . The expected increase in operational cost may make S P Setia find leasing business unattractive and reconsider the business of selling which is not characterised by increased operational cost (Natalie Tatiana Churyk, 2015). Real estate industry which S P Setia operates in is also expected to experience a shift in demand by lessees from leasing premises to owning . Lessees might find leasing unattractive as a result of the identified distortions of fundamental ratios is their balance sheet as a result of the adoption of IFRS 16 (IFRSFoundation, 2016) As a result of a shift in business, S P Setia will also experience a drop in its non-current assets by -93% as a result of the classification of the existing underlying lease assets into Current assets . Current assets will increase by 81% (appendix 1). This will, in turn, make S P Setia company liquidity ratios to raise as a result of a change in business .For example, current ratio will rise by 157% (Appendix 2). However, the increase in a current ratio of S P Setia to 352% from the current 194% (appendix 2) may not be sustainable in the long-run since the expected high demand for real estate purchases might only be experienced at the inception of the standard (Karen Wong, 2015). Also, the shift in business patterns by both S P Sitia and its lessees could trigger an increase in lease costs. This is because S P Sitia will need to cushion itself against increased operating costs resulting from the changes. This will make the companies in real estate who are the lessor to adjust prices upwards for them to accommodate the new lease terms anticipated (EarnestYoung, 2016). S P Setia and other companies in real estate will not be affected by the IFRS 16 directly as most of them are lessors in lease agreements. However, their key customers will be affected by the standard hence triggering the effects identified above the industry . (Natalie Tatiana Churyk, 2015) b) Impacts Of Ifrs 16 On Financial Services-Hong Leong Bank Berhad The key fundamental ratios in HLBank like CET 1 and Tier 1 which are currently at 11.147% and 12.297% will reduce to 10.20% and 11.32% respectively when the operating leases are introduced to the balance sheet (Appendix 3). This indicates that IFRS 16 will have to reduce the two capital ratios of banks with considerable operating leases. This will in turn trigger the banking regulators to demand additional capital from the bank if the reduction in core capital goes below the minimum required rates. For Example, the minimum required CET 1 and Tier 1 capital in Malaysia for a bank like HLB is 4.5% and 6% respectively(EarnestYoung, 2016). HLBank will be necessitated to change their risk appraisal processes currently in place in order to accommodate their customers who are adversely affected by the IFRS 16. This is because some class of HLBank customers who have operating leases in their books will experience distortion of their fundamental risk ratio like , gearing ratios ,which will make them not to qualify for loan facilities as per the current credit appraisal processes(Lindstedt, 2012). This will make the affected customers negotiate their existing debt covenants with the banks in order to mitigate the balance sheet effects of IFRS 16(Karen Wong, 2015) Due to this negotiation by lessees , HLBank can end up losing some considerable part of their returns attributable to the leases. This is because affected customers might demand low rates in an attempt to minimise the balance sheet effects . In addition, HLBank can end up loosing interest income from its current lease portfolio valued at RM 678,579 million if those customers consider the finance lease unattractive. Therefore, adoption of IFRS 16 will lead to HLBank and its industry peers to lose an important portfolio in their current finance lease or end up accepting low rates on the loans in order to maintain the portfolio(EarnestYoung, 2016) The banking industry is known for operating in leased premises in an attempt to free up working capital. This has been the practice and HLBank is not an exception for it holds RM 16,084,000 in operating leases in its balance sheet. This norm is anticipated to change with the adoption of IFRS 16 as HLBank will opt an alternative to existing operating leases which will minimise the adverse effects of the standard in their books. This alternative will involve owning the banking halls, negotiating with the service providers for separation of none-lease components from the main lease which will lead to fewer assets and liabilities as compared to long fixed term leases. Finally, they may negotiate with service providers for a variable payment which will reduce the adverse effects on their balance sheets(EarnestYoung, 2016). The banking industry has been using Sale and leaseback operations as a soft means of financing without recognising them in their books of accounts. This aspect has been facilitating banks to play around with its core capital ratios in order to comply with regulatory minimum requirements. This will no longer be attractive to banks/ lessees as IFRS 16 now mandates both parties is sale and leaseback arrangements to recognise the transactions in balance sheets. Therefore , IFRS 16 will be anticipated to reduce the number of sale and leaseback transactions significantly in the banking industry (EarnestYoung, 2016). c) Impacts Of Ifrs 16 On Airline Airasia Berhad An earlier research which was done had indicated that Airline industry will be the second highly affected industry by IFRS 16 (PWC, 2016). AirAsia will experience an abnormal increase in its leverage ratios as a result of the adoption of IFRS 16 (appendix 4). This is because AirAsia will be required to adjust its balance sheet assets and liabilities by RM 94,534,585 currently reported as off-balance sheet item. This shift will lead abnormal growth in assets value and liabilities by 443.49% and 560.52% (appendix 5) respectively in the AirAsia books (PWC, 2016) .This will lead to an abnormal increase in risk measure of AirAsia (appendix 4) making it look less attractive to various stakeholders like potential investors, lenders, creditors among others(Patricia Sandblom, 2015) Another significant effect is on EBITDA of AirAsia Company which will be expected to increase as a result of increased finance cost, amortisation and depreciation as preparers of financial statements will be required to report lease rentals as separate components of interest on lease liability and depreciation / amortisation of right of use assets (Appendix 6). Finally , AirAsia ROCE which is a key performance ratio in the airline industry will improve significantly as EBITDA will increase as a result of the adoption of the standard (appendix 4).It is used to measure efficiency on invested capital in the firm(Deloitte, 2016) AirAsia will also be necessitated to review its current business process and strategies to avert the negative effects in its books as a result of adopting IFRS 16 as follows. The company will consider reducing the current lease terms of Aircraft in order to reduce the liabilities therein(appendix 5). This is because shorter lease terms will see fewer liabilities recognised in their balance sheet hence controlling the leverage levels associated with increased liabilities. Also, AirAsia will start to negotiate their existing leases terms to have their big portions of their lease to be based on flying hours . In such cases, the contract will not amount to lease (where payment of lease rentals are based on flying hours) hence will end up mitigating the effects of increased liabilities and assets considering how significant AirAsia engage in lease of expensive aircraft(Deloitte, 2016) It can be observed that AirAsia lease contracts are dollar denominated . This will significantly be affected by foreign currency volatilities which would lead the company to forex losses in AirAsia income statements when making the interest payments and when translating the liabilities and assets into a functional currency(RM).To minimise this, AirAsia will need to negotiate with its suppliers of aircraft to keep the lease agreement on RM currencies(Natalie Tatiana Churyk, 2015).However, although AirAsia suppliers will not be affected by the IFRS16 ,they will also need to reconsider changing their business processes to accommodate the change in leasing trends expected in the airline industry .They will re-evaluate the business implications as a result of revised lease terms as for example AirAsia may opt for lease contracts based on flying hours , this will lead to an increase in their operational cost hence reducing their profits margins(PWC, 2016) References AirAsia, 2016. Annual Report 2015, s.l.: AirAsia Berhad. Deloitte, 2016. IFRS industry insights-Aviation sector - the implication of the new standard. IFRS 16-implication of the new standard, pp. 1-2. EarnestYoung, 2016. Applying IFRS 16 in Financial services. Applying IFRS 16 in Financial services, 1(1), pp. 1-13. EarnestYoung, 2016. Applying IFRS 16 In Financial services. Applying IFRS 16 In Financial services-IASB issues a new leases standard, pp. 1-18. HLBank, 2016. 2015 annual Report, Kaula Lumpur: Hong Leong Bank Berhad. IFRSFoundation, 2016. IFRS 16 leases. IFRS, pp. 1-20. Karen Wong, M. J., 2015. The Impact of lease capitalization on financial statements and key ratios :Evidence from Australia. Australasian accounting,Business and Finance Journal, 9(3), pp. 24-44. Kumbirai, M., 2010. A Financial Ratio Analysis of commercial Bank Performance in south Africa. Africa Centre for economics and Finance, pp. 30-53. Lindstedt, L., 2012. Consequences of the new lease standard, s.l.: Goteborgs University. Natalie Tatiana Churyk, A. R. H. L., 2015. Leasing: reducing the game of hiding risk. Journal of accounting and organisational change, pp. 162-174. Patricia Sandblom, A. S., 2015. The value Relevance of the proposed New leasing standard, s.l.: University of Gothenburg. PWC, 2016. In the spotlight-Impacts of IFRS 16 to Airlines. IFRS 16 -Leases, pp. 1-10.