Lets Make A Deal An Analysis Of The Monty Hall Problem Essays

Let's Make A Deal: An Analysis Of The Monty Hall Problem The Monty Hall problem is derived from a similar dilemma that was frequently brought up on the television game show Let's Make A Deal, hosted by Monty Hall. Though the game show's version usually involved some grand prize and then other smaller prizes to compare it to, the concepts of the two versions are the same. Here is the scenario: There are three doors. One of the three doors is hiding a prize, while the other two are empty or contain something undesirable, such as a goat. The contestant is asked to try and guess which door is the prize door. (If the contestant guesses correctly, he wins the prize.) Once the contestant makes his choice, the host says something like, Are you sure that is the right door? How about this; I'll up your chances and open one of the other two doors. The door is opened to reveal a goat. Now, do you still think the prize is behind your original choice, or would you like to switch to the other closed door? The contestant must make a decision between the t wo doors remaining closed. Here is the big question: Should the contestant stay with his initial selection or should he switch, and does it really matter? This question was brought to the attention of Marilyn vos Savant and plublished in Ask Marilyn, her column in PARADE Magazine. Her reply caused an uproar and she received several letters, many from mathematics professors and probability experts, claiming that her answer was totally false. In her reply, she had said that the contestant was more likely to win if he switched. (I agree with this theory.) The controversy from Marilyn's column spread to other publications and spurred on a huge debate over the probability of winning if the contestant stays with or switches his choice. At first glance, the probability of winning seems obvious. After the host opens one of the doors, two are left closed, each having an equal likelihood of containing the prize. So there is a fifty-fifty chance of choosing the correct door. It does not matter whether the contestant switches or stays, because the probabilities are the same. But if the problem is considered a little more closely, you might change your mind. Here is a different approach to the puzzle: First of all, there are three doors, and the prize can only be behind one of them. So there is a one-third chance that the contestant will get the prize, and a two-thirds chance that he will not get the prize. If the contestant decides to stay with one door, then his chances of hitting the prize will be one-third. Let's say the contestant has chosen a door and it is not the prize door. This has a probability of two-thirds. Then the prize must be behind one of the other two doors. Furthermore, the host will open one of these two doors, revealing the one that is empty. So the prize has to be behind the other door remaining closed. Therefore, if the contestant chooses the wrong door at first (this having a two-thirds probability,) and then switches, he is certain to get the prize. Summing up, if the contestant switches, his odds of winning is two-thirds, and if the contestant does not switch, his odds of winning is one-third. A simple theory, though, does not hold very much importance until it is proven. With this in mind, I ran several trials of different experiments to see if Marilyn vos Savant's assumption was actually true. The first investigation I ran was several trials on a simulation of the game I found on the internet (at http://www.intergalact.com/threedoor/threedoor.cgi). The simulation asked me to pick a door, then it opened another door, and finally asked me to either stay with my previous selection or switch. I played twenty times; ten times staying and ten times switching. The results are shown in Table A. When I switched, I won eighty percent of the time, whereas when I stayed, I only won forty percent of the time. In a separate simulation of the problem on a different web site (at http://cartalk.cars.com/Tools/monty.pl), after completing one

Free Essays on Korean Jewelry

Silla, Paekche, and Karak are known as the three kingdoms in the Three Kingdoms period that occurred approximately between the years of 37 B. C. E. and 668 C. E. In coming together in unity, these three kingdoms enjoyed more freedom than they had for many years because of the lack of fighting between their three kingdoms as well as the unified front that they presented to others. Invasions became less frequent from common enemies, namely Japan and China, who would continue to invade and overtake Korea even in the twentieth century. The Three Kingdoms period was a time of flourishing art and ability. It was a time that Korea began to see more things Chinese mainly because of an invasion of another kind, Buddhism. It was during this time that many Korean people, mainly chungin class artists, began to notice and imitate Chinese art that was beginning to be imported. The chungin class in Korea was known as middle class. Theirs was a small group that consisted of educated laborers such as astronomers, physicians, interpreters and artists. This group was subordinate to the yangban, or nobility. The yangban’s taste in art differed in that from the chungin class. The chungin preferred a more realistic approach to art whereas the yangban’s taste was for the more dreamlike and fantastic. The chungin also preferred to speak in their native tongue, Hanguk (Korean) whereas the yangban considered it vulgar not to speak in Chinese. All Korean people who could write at this time did so in Chinese because the Korean characters were not â€Å"created† until the fifteenth century by King Sejong. Most secrets of the metal smithing and engraving have remained just that, secrets. There is a lack of written information on most Korean skills because most skilled workers utilized the master-apprentice system of passing information through generations. Whatever we do know about the creating of art during this time comes from the writings of ... Free Essays on Korean Jewelry Free Essays on Korean Jewelry Silla, Paekche, and Karak are known as the three kingdoms in the Three Kingdoms period that occurred approximately between the years of 37 B. C. E. and 668 C. E. In coming together in unity, these three kingdoms enjoyed more freedom than they had for many years because of the lack of fighting between their three kingdoms as well as the unified front that they presented to others. Invasions became less frequent from common enemies, namely Japan and China, who would continue to invade and overtake Korea even in the twentieth century. The Three Kingdoms period was a time of flourishing art and ability. It was a time that Korea began to see more things Chinese mainly because of an invasion of another kind, Buddhism. It was during this time that many Korean people, mainly chungin class artists, began to notice and imitate Chinese art that was beginning to be imported. The chungin class in Korea was known as middle class. Theirs was a small group that consisted of educated laborers such as astronomers, physicians, interpreters and artists. This group was subordinate to the yangban, or nobility. The yangban’s taste in art differed in that from the chungin class. The chungin preferred a more realistic approach to art whereas the yangban’s taste was for the more dreamlike and fantastic. The chungin also preferred to speak in their native tongue, Hanguk (Korean) whereas the yangban considered it vulgar not to speak in Chinese. All Korean people who could write at this time did so in Chinese because the Korean characters were not â€Å"created† until the fifteenth century by King Sejong. Most secrets of the metal smithing and engraving have remained just that, secrets. There is a lack of written information on most Korean skills because most skilled workers utilized the master-apprentice system of passing information through generations. Whatever we do know about the creating of art during this time comes from the writings of ...

Ford motor company Form 10-K review Essay Example | Topics and Well Written Essays - 1000 words

Ford motor company Form 10-K review - Essay Example The paper involves the requirements of the types of segments to be reported on the annual financial statements.This Statement needs that a public business enterprise to give a detailed report on the measure of the segment profit or loss, specific expense items and revenue, and the segment assets. The statement also requires the reconciliations of the entire total segment assets, segment revenues, total segment profit or loss, and additional amounts disclosed for the segments to which correspond to the amounts in the entire company’s financial statements. The statement also require that public company’s give a descriptive report on the information concerning the revenues resulting from the company’s products, services etc. , about countries where the enterprise do earn revenues and also possess assets, and the statement also require a list of major customers.

The Role Of Technology In Economic Development Research Paper

The Role Of Technology In Economic Development - Research Paper Example People encounter improvements in their living through economic development occurring in a nation. The scope of this study is primarily limited to the economy of United States. However the existing literature and the different viewpoints offered by various researchers and authors related to technology and economic development have been included in this study. Economic development can be viewed from the institutionalism perspective which states that technology forms an important driving force for the economic development of a nation. However this has been argued by the ecological economists who do not consider technology being the only factor that can lead to development of an economy. Trade and technology are found to be positively correlated with each other and most of the nations using greater volume of technology are the most economically developed nations of the world. Hence technology plays a vital role in the sustainable growth and development of an economy. Technology has been defined by economists as knowledge or ideas that facilitate increased production of output from a given input. A greater amount of technology implies that the ability of producing output is enhanced using the same amount of input as was used earlier. Technology can be considered to be composed of various things. It can imply different types of engineering discoveries like the inventions of light bulb or airplane, basic knowledge, concepts related to services or production, etc. The importance of technology is evident because of the fact that inputs of regular quantities are associated with diminishing returns. Keeping other things constant, the utilization of more inputs leads to lesser amount of outputs that can be produced through each of the additional inputs. However, since similar concept is applicable to the overall economy, use of technology does not lead to diminishing returns. Hence it has been observed that technology has a significant role to play in the process of overco ming various limitations that are imposed through the phenomenon of diminishing returns to capital and labor. Prophecies of doom have been announced in various points of time in the historical past which was based on the concept that the scarcity of one of the inputs would result in the halt of economic growth. However technological advancements have disproven all of these prophecies so far. Technology has helped us to formulate ways through which we can produce more output from a given input and hence reduced the dangers that are imposed through the limitations of the availability of certain resources. The role of technology in the economic development of a nation can be viewed from different perspectives like the economical and social perspectives. Development is actually referred to the various improvements that occur in the lives of people living in a community. This study entails about the various roles played by technology towards the economic growth and development of a natio n. The scope of this study is mostly limited to the economy of United States. However it has been compared and contrasted with various other economies and from the global

Micronutrien metabolism past and present (synthesis of vitamin A from Essay

Micronutrien metabolism past and present (synthesis of vitamin A from beta carotene) - Essay Example In addition, the evolution of the recommended dietary intakes of vitamin A will be discussed. Elmer V. McCollum and M. Davis discovered vitamin A during 1912-1914. In 1913, Yale researchers, Thomas Osborne and Lafayette Mendel discoveredthat butter contained a fat-soluble nutrient soon known as vitamin A. Scientist of this era had determined that there was vitamin A activity from yellow pigmentation in plants that was similar to the yellow in butterfat. Early researchers went on to deny the possibility of a relationship between yellow coloration in plants and vitamin A activity based on findings from Palmer and Eccles, 1914. Palmer and Eccles achieved success in rearing chickens and rats up with diets almost devoid of carotene. In addition, Stephenson [1920] found that butter fat could be completely stripped of color by charcoal without losing its retinol activity. It was not until 1929 when the link between carotene and vitamin A activity was reestablished. Thomas Moore in 1929 continued research between carotene and vitamin A activity in rats from carrot root. In Moore's experiment test rats were fed a vitamin A restricted diet until definite signs of deficiency become obvious, Xerophthalmia (night blindness) and slowed growth. Fresh carrot root cut into pieces of 50, 100 or 200 mg. were added to the rodents daily intake. In all rats receiving 200 or 100 mg. of carrot xerophthalmia was cured and steady growth was resumed. In one rat receiving 50 mg. of carrot no response was observed. In addition, the experiments carried out by Moore in 1929 (T, 1929) confirmed the appearance of vitamin A in liver upon the oral dose of carotene. It was assumed that conversion occurred in the liver but direct evidence to prove the fact was not known. In 1931, the first claim of the conversion "in vitro" was brought into account from experiments by Olcott and McCann. They incubated carotene in an enzyme preparation, carotenase, for 24 hours. The product of this experiment became colorless with an absorption band at 3280 under specrspoic examination. The results of this experiment were not duplicated in subsequent procedures when the carotenase had been deactivated by heat. There was evidence that carotene went through some sort of enzymatic process but the specifics were still unknown. Since the early 1900's much has evolved in our knowledge of how -carotene is converted into vitamin A. Olson JA in 2008 discussed the Provitamin A of carotenoids with respects to the conversion of -carotene into vitamin A. Two pathways have been suggested for the conversion of carotenoids to vitamin A in mammals, central cleavage and eccentric cleavage. -carotenoid-15-15-dioxygenase convert -carotene into two molecules of retinal in good yield. The reaction requires molecular oxygen but, is inhibited by sulphydryl-binding and iron binding reagents. This enzyme is responsible for cleavage of most provitamin A carotenoids to retinal. The excentric cleavage occurs in plants and some microorganism and might also occur in mammals. In Microcystis species, there is a highly specific and essential stochiometric conversion of -carotene to cyclocitral and to crocetin-dial. But, till this report was published no mammalian carotenoid dioxygenase with excentric bond specificity was identified an d characterized. The

Analysis of Lease Accounting Standards

Analysis of Lease Accounting Standards Abstract The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) are reviewing their guidelines on lease accounting this year. This paper provides background information on the Securities and Exchange Commission (SEC), FASB and IASB including what their role is in accounting. It details the history of lease accounting for them, changes that have occurred since the original guidelines were issued, and why the FASB and IASB are looking to update the current standards. History and Future of Lease Accounting for Leases The history of lease accounting provides numerous changes to the standards. FASB 13 is the last major change that has been made and that was 30 years ago. The financial community describes the changes that could arise from the FASB and IASB as an effort to bring transparency to company balance sheets. This is a continuing reaction to Enron and certain happenings earlier in the decade that brought off-balance sheet items to the forefront. There is a lot of focus on off-balance sheet obligations now. Users of financial statements depend on the statements to provide important information about a companys performance, financial condition, and the cash flow. Financial statement users include bankers deciding whether to lend money or renew a loan to a company, suppliers deciding to extend you credit. â€Å"The FASB and IASBs conceptual framework objective is to provide a common framework that provides useful and complete accounting information† (Monson, 2001). Standard Setting Bodies Security and Exchange Commission The Security and Exchange Commission (SEC) was established in 1933 after the Crash of 1930. Prior to this time there, no standard setting body existed. Even after its formation, the SEC encouraged the private sector to set them. In 1934, the SEC received the authority to establish financial accounting and reporting for publicly held companies. Committee on Accounting Procedures In 1939, the SEC suggested that the American Institute of Certified Public Accountants (AICPA) create a formal standard setting body. The AICPA established the Committee on Accounting Procedures (CAP). During its reign from 1939 to 1959, they issued 51 Accounting Research Bulletins. CAP was not as successful as had been hoped. CAP only issued standards on problems as they occurred. These standards are known as Accounting Research Bulletins or ARBs. Accounting Principles Board The Committee on Accounting Procedures was replaced with the Accounting Principles Board (APB) in 1959. They issued 31 opinions and 4 statements over the next 14 years. They are credited with the development of Generally Accepted Accounting Principles (GAAP) from the opinions and statements they issued. Financial Accounting Standards Board The APB was replaced by the Financial Accounting Standards Board (FASB), which was formed in 1973. FASB is an independent board with full-time members who no longer work in private firms or their employers. FASB establishes standards for businesses in the private sector. As part of the FASB mission statement it states that, â€Å"standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable information† (Financial, 2007.). In Facts about FASB (2007), the FASB seeks to accomplish their mission by acting to keep standards current to reflect any changes in methods of doing business, to improve the usefulness of financial reporting by focusing on relevance, reliability, comparability, and consistency, and to promote the international convergence of accounting standards. International Accounting Standards Board The International Accounting Standards Board (IASB) established in 2001 is based in London. It succeeded the International Accounting Standards Committee (IASC), which was founded in 1973. The IASB develops a solitary set of global accounting standards that provide transparent and comparable information in financial statements. The IASB works with national accounting standards bodies to accomplish a united set of accounting standards to be used around the world. Original Standards for Leases ARB 43, Chapter 14 In 1949, the Committee on Accounting Procedures issued ARB 43, Restatement and Revision of Accounting Research Bulletins, Chapter 14 Disclosure of Long-Term Leases in Financial Statements of Lessees. ARB 43, Chapter 14 only provides guidance for leasing land and buildings. ARB 43 (1953) requires that the lessee assumes all the expenses and obligations of ownership, such as taxes, insurance, and repairs. These types of arrangements differed from conventional long-term leases but the principles of disclosure were intended to be applied to both types of arrangements. The disclosures that need to be reported included the amount of annual rent to be paid, the period for which the payments are payable. The disclosure is to be reported for the life of the lease not just the first year. In the first year of the lease, the disclosure needs to detail the transaction (FASB, 1953). APB Opinion No. 5 The Accounting Principles Board issued Opinion No. 5, Reporting of Leases in Financial Statements of Lessees in September 1964 and supercedes ARB 43, Chapter 14. Since ARB 43 had been issued, leases had been disclosed on financial statements but not in a consistent manner. The information disclosed was often not enough for investors to get a clear picture of a companys financial position. According to APB Opinion No. 5 (1967), there had been very few instances of capitalization of leased property and recognition of the related obligation. In Accounting Principles Boards Opinion No. 5, rental (lease) payments for services, property taxes, utilities, maintenance, etc. are to be treated as an expense. Having the right to use property and paying a specific rental amount over a period are not considered an asset or liability. An operating lease should disclose relevant information about the lease or rental agreement and the information disclosed will vary from one situation to another. Lessees were to disclose the minimum annual payments and length of time at the least. The maximum they should disclose was the type of property leased, the obligation assumed, requirements of the lease. APB No. 5 (1967) states a capitalized lease may require a note or schedule to disclose the details of the lease agreement. Lease arrangements that are similar to an installment purchase should be listed on the balance sheet and depreciated accordingly. For a lease agreement to be capitalized there should be material equity in the purchase. IAS 17 The International Accounting Standards Board (IASB) issued IAS 17, Accounting for Leases, in September 1982. A lease is classified either as a finance lease or an operating lease. A finance lease is classified as such â€Å"if it transfers substantially all the risks and rewards† (International, 2003) to the lessee. Leases are classified as an operating lease if they do not meet the criteria of a finance lease. The following situations would lead a lease to be classified as a finance lease: Transfer of ownership of the asset to the lessee at the end of the lease The lessee has the option to purchase the asset at an amount that is sufficiently lower than the fair value The lease term is for most of the assets life At the beginning of the lease, the present value of the minimum lease payments is equal to the fair value of the asset. (International, 2003) IAS 17 (2003) requires that the following accounting principles be applied to finance leases. The finance lease should be recorded as an asset and a liability, lease payments should be distributed between finance charges or interest expense and the principle amount of the liability, and depreciation should be calculated using the same method as that of the companies owned assets. The International Accounting Standards Board (2003) defines the disclosure requirements lessees of finance leases must follow. Lessees of finance leases disclose the carrying amount of the asset, reconciliation between total minimum lease payments and the present value, amounts of minimum lease payments as of the balance sheet date, and the present value for the next years, years 2 through 5 combined, and beyond 5 years and a general description of the lease arrangement. In section 35 of IAS 17, the International Accounting Standards Board (2003) provides disclosure details for lessees of operating leases. Lessees must recognize lease payments as an expense on the income statement. They should provide in the financial statement disclosure a description of the lease arrangement, including any provisions, whether there is a purchase option, and any restrictions that are imposed. Also, lease payments as of the financial statement date for the next year, years 2 through 5 combined, and beyond 5 years. Changes to Original Standards APB Opinion No. 31 The Accounting Principles Board issued Opinion No. 31, Disclosure of Lease Commitments by Lessees, on June 1972 with an effective date of January 1, 1974. Opinion No. 31 was developed because investors, grantors, and users of financial statements acknowledged that at the time the disclosures did not provide all the information they deemed important. The APB issued it to clarify and now require the disclosure requirements of APB Opinion No. 5. The Board did not want to establish any disclosure requirements because the FASB had placed leases as a subject on its agenda at the time this was issued. The Board was hesitant because they did not want to bias the decision. The Board reworded its requirements for the disclosures of operating leases. A lease that is for one year or more needs to provide the total rental expense. The minimum rental payments should be disclosed for each of the five succeeding years, each of the next three to five year periods, and the remainder should be listed as a single amount. Additional disclosures that should be included are whether the payments are dependent upon any factors other than time, if so what is the basis for calculating the payments, is there a purchase or renewal option, and any restrictions. (FASB, 1973) FAS 13 In November 1976, the Financial Accounting Standards Board issued FAS 13, Accounting for Leases. The issuance was to provide detailed criteria that other statements had supplied for classifying leases that would prevent many different interpretations. This statement superseded APB Opinion No. 5, Reporting of Leases in Financial Statements of Lessees and APB Opinion No. 7, Reporting of Leases in Financial Statements for Lessors. FAS 13 established standards of financial reporting for both lessees and lessors. The standard provided a definition of leases, how leases should be classified, and what needed to be disclosed. The Financial Accounting Standards Board (1976) defined a lease as â€Å"an agreement conveying the right to use property, plant, or equipment usually for a stated period of time†. This definition includes agreements that although may not be identified as a lease but falls under the definition. FAS 13 (1976) states that a lease is classified either as an operating lease or as a capital lease. Capital leases meet one or more of the criteria FASB established for a capital lease. The criteria for classifying leases as a capital lease are: The lease transfers ownership of the asset at the end of the lease term. The lease contains a bargain purchase option The lease is longer than 75% of the products economic life The present value of the lease is more than 90% of the asset value using the lessees incremental borrowing rate. (FASB, 1976) FAS 13 provided the following accounting principles that are applied when it is determined that a lessee is involved in a capital lease. The lessee records a capital lease as an asset and liability for the amount equal to the value of the lease payments. If the lease has a bargain purchase option or if the property transfers ownership at the end of the lease term, the asset is depreciated according to the lessees normal depreciation for owned assets. If the lease does not contain a bargain purchase option or if the property does not transfer ownership at the end of the lease, the asset is depreciated for the life of the lease. Leases that do not meet the criteria of a capital lease are classified as an operational lease and are treated as an expense for the term of the lease on the income statement. (FASB, 1976) Capital leases should disclose the gross amount of the asset and the future minimum lease payments. Operating leases should disclose the future minimum rental payment required, a general description of the terms of the lease agreement to include how the rental payments are determined, terms of renewal or purchase option, any restrictions that may apply. FASB and IASB to Update Lease Standards In July 2006, the FASB and IASB announced that it had added a leasing project to its agenda to reconsider all aspects of lease accounting. One reason for the project is to harmonize lease accounting standards with the IASB. â€Å" The IASB and FASB currently have substantial differences in their treatment of leases; particularly notable is that the â€Å"bright line† tests of FAS 13 (whether the lease term is 75% or more of the economic life, and whether the present value of the rents is 90% or more of the fair value) are not used by the IASB, which prefers a â€Å"facts and circumstances† approach that entails more judgment calls† (Open, 2006). Both the FASB and IASB have the finance and operating lease concept. However, their criteria are different for classification. Another reason is a request from investors and other authoritative bodies who have been criticizing that similar lease transactions were still being accounted for in different ways. In the SECs 2005 report in response to Sarbanes-Oxley the SEC stated that too many leases were being kept off the balance sheet. â€Å"The commissions staff estimated that the standards allow publicly traded companies to keep an undiscounted $1.25 trillion in future cash obligations off their balance sheet† (Leone, 2006). Therefore, the current accounting standards are failing to provide the necessary complete and transparent information. FASB and IASB hope to have an exposure draft available in 2009. Solutions There are two solutions to the lease problem. The FASB and IASB can either recommend leases to be reporting on a companys income statement only as an expense or on a companys balance sheet only as an asset and liability. Income Statement Only Using the income statement only solution, companies would report their leases as operating lease. An operating lease recognizes the lessees payments as rent expense or lease expense on the income statement. Balance Sheet Only Using the balance sheet only solution, companies report their leases on the balance sheet as an asset and liability. It will also allow for depreciation and interest expense on the income statement. Capitalization of all leases will bring previously unreported assets and liabilities onto the balance sheet Analysis When companies lease an asset, the way it is accounted for depends on whether it is categorized as an operating or capital lease. How a lease is categorized may be different for tax purposes then for accounting purposes. The GAAP standards and Internal Revenue Service can have different sets of criteria. According to IRS Revenue Ruling 55-540 the IRS is wary of lease arrangements used to accelerate depreciation deductions. The IRS has no general rule for leases and each case is decided on an individual basis. However, from decisions previous made the following factors indicate a sale instead of a lease. If the asset meets one or more of the factors, it is considered a sale NOT a lease. A portion of the payments are specifically allocated as interest or it is obvious that is what is intended. The title is transferred at the end of the â€Å"rental† term. The lessee may purchase the asset at the end of the lease term for a bargain purchase price. When a lease qualifies as an operating lease, there are major consequences for the net income or loss and the return ratios of that company. In general, both the operating and net income of the firm will be decreased and the assets and liabilities for the firm will be understated. Debt management ratios are important to creditors and stockholders. Creditors want to make sure funds are available to pay interest and principal and are therefore particularly interested in short-run coverage ratios. Stockholders are concerned about the impact of excessive debt and interest on long-term profitability. Lenders and investors use such ratios as debt to equity, current ratios, and return on assets to evaluate the credit risk of current or prospective businesses. Ratios are used to measure the effectiveness that a company uses its assets and to compare a companys current performance. As shown below in the comparison of ratios in an operating or capitalized lease, the financial ratios can be misleading just by reporting leases off the balance sheet. By reporting the lease of ABC Restaurant, Inc. (Figures 1-4) as an operating lease or ABC Restaurant, Inc. (Figures 5-8) as a capitalized lease, the companys financial statements are affected. The financial statements of both are identical except for the accounts that were affected by the relative lease. The financial statements are not as accurate as investors and lenders are demanding. The current ratio is a quick indication of whether or not the company will have the means to pay its bills during the next year. It is clear to remain solvent, a company must have at least as much money coming in as it has going out. The current ratio is .31 for the operating lease and .30 for the capitalized lease. A current ratio over 1.5 to 2.0 is generally required for comfort. The debt ratio for the operating lease is 1.68%. In comparison, the debt ratio for the capitalized lease is 1.64%. A high debt ratio is generally viewed as risky by lenders and investors. The debt to equity ratio equals -1.32 and their return on assets is 38.45%. In relation to the capitalized lease which had a debt to equity ratio of -1.40 and their return on assets is 34.05%. The effect of a capital lease on net income is different then that of an operating lease because capital leases are treated the same as if assets are bought by the company. The company is allowed to claim depreciation on the asset and the interest payments on the lease are a tax deductions. By reporting assets on the balance sheet, this provides an increased level of information to lenders. This is especially useful to lenders of non public business or the small (S Corporations) who elect to omit disclosures on the financial statements. When a company does this those who review their financial statements will be misled because there will be no evidence of a lease existing. The payments will be accounted for on the income statement as rent expense or lease expense. Thereby, reducing the net income of those companies income statements. The AICPA issues Statements on Standards for Accounting and Review Services. The FASB issues standards for the public. The process for both the AICPA and the FASB starts with deliberations that are open to the public; the proposed Statements are then issued as Exposure Drafts, which allows the public to comment on them prior to the final pronouncement issued. Many accountants issued their opinions on what they feel should be done about this 30-year-old standard. Conclusion Currently, the lease standards are outdated. â€Å"Lease arrangements have evolved considerably over the past 30 years and the standards are outdated† (Miller, 12). FAS 13 was suppose to force leases to be capitalized but it did nothing but help lease companies create more cunning operating leases. The misclassification of leases affects not only the balance sheet but also the income statement and cash flow statement.

Essay on Romanticism in Mary Shelleys Frankenstein :: Frankenstein essays

Essay on Romanticism in Frankenstein      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   All literature is influenced by the time period in which it was written; whether it be war, poverty, or any other social trends. People tend to write commentaries of political events, or just describe the time period. Whether it is intentional or subconscious, an author cannot help to include some aspects of the time period in which they are in.  Ã‚   The Romantic Period had a tremendous influence on Marry Shelly's writing of the novel, Frankenstein.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Industrial Revolution in England during the late 1700's was a time of great change. The populace was moving into cities, and people were disillusioned by the destruction of nature and the living conditions in the cities. In response to this disillusionment, people started to envision the world differently than they had before. They saw nature as all beautiful, powerful, and perfect. Previously, the inspiration for literature was law, order, and religion; now, it is in the writers imagination and powerful emotions. This change in the attitude of the people is called Romanticism. The Romantic Movement is one of the most important literary periods in history; affecting the literature, music, and art of the period. It encouraged spontaneity, and acting with emotions, not common sense. In the more classical style of writing, writers addressed their books to the upper class, but now writers addressed the common man and his problems. Their was a new feeling of spirituality. People were seeking eastern concepts of nirvana, transcendentalism and being one with nature. People wanted to experience life, not study it. They seeked extreme emotions, whether they were good or bad. Marry Shelly used all of these philosophies of the Romantic Period in writing, Frankenstien.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Victor Fankenstien is a man with great ambition, he is obsessed and self-centered. His life is the mirror of a Greed Tragedy. In his case, the flaw is his excessive pride. This flaw causes Victor to rush into something, for which he is not prepared. He fulfills his ambition and makes the biggest mistake of his life by creating a monster. Finally, just before Victors death, he has his catharsis. He tells Robert his story and cleanses himself. â€Å"seek happiness in tranquillity, avoid ambition† (pg. 205) This paradox, that he created a creature to help society, but it turns out to be the undoing of society and himself is an example of Victors self-centeredness. His life degenerates from here on. Victor is a product of the Industrial Revolution. In reaction to people with Victor's characteristics, the Romantic Period is born. His beliefs are in science and the known world, which is the opposite of the Romantic ideal. Essay on Romanticism in Mary Shelley's Frankenstein :: Frankenstein essays Essay on Romanticism in Frankenstein      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   All literature is influenced by the time period in which it was written; whether it be war, poverty, or any other social trends. People tend to write commentaries of political events, or just describe the time period. Whether it is intentional or subconscious, an author cannot help to include some aspects of the time period in which they are in.  Ã‚   The Romantic Period had a tremendous influence on Marry Shelly's writing of the novel, Frankenstein.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Industrial Revolution in England during the late 1700's was a time of great change. The populace was moving into cities, and people were disillusioned by the destruction of nature and the living conditions in the cities. In response to this disillusionment, people started to envision the world differently than they had before. They saw nature as all beautiful, powerful, and perfect. Previously, the inspiration for literature was law, order, and religion; now, it is in the writers imagination and powerful emotions. This change in the attitude of the people is called Romanticism. The Romantic Movement is one of the most important literary periods in history; affecting the literature, music, and art of the period. It encouraged spontaneity, and acting with emotions, not common sense. In the more classical style of writing, writers addressed their books to the upper class, but now writers addressed the common man and his problems. Their was a new feeling of spirituality. People were seeking eastern concepts of nirvana, transcendentalism and being one with nature. People wanted to experience life, not study it. They seeked extreme emotions, whether they were good or bad. Marry Shelly used all of these philosophies of the Romantic Period in writing, Frankenstien.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Victor Fankenstien is a man with great ambition, he is obsessed and self-centered. His life is the mirror of a Greed Tragedy. In his case, the flaw is his excessive pride. This flaw causes Victor to rush into something, for which he is not prepared. He fulfills his ambition and makes the biggest mistake of his life by creating a monster. Finally, just before Victors death, he has his catharsis. He tells Robert his story and cleanses himself. â€Å"seek happiness in tranquillity, avoid ambition† (pg. 205) This paradox, that he created a creature to help society, but it turns out to be the undoing of society and himself is an example of Victors self-centeredness. His life degenerates from here on. Victor is a product of the Industrial Revolution. In reaction to people with Victor's characteristics, the Romantic Period is born. His beliefs are in science and the known world, which is the opposite of the Romantic ideal.

The Good Shepherd and the Black Sheep: Paradoxical Irony in “The Lame Shall Enter First”

â€Å"[W]hen thou doest alms, let not thy left hand know what thy right hand doeth† counsels the Bible, thus setting the precedent for all well-meaning members of western society concerning their charitable intentions (Matt. 6. 3). Humanity's motivation to aid others, regardless of the outcome, is oft times spotted by the subtle struggle between selflessness and selfishness. Flannery O'Connor captures this classic conflict between good and evil in Southern Grotesque fashion through her characters, the protagonist Sheppard and his foil, Rufus Johnson, in [comment2] â€Å"The Lame Shall Enter First†. comment3] Challenging the literal paradigm of light and darkness, O'Connor weaves together well crafted characterization, cryptic dialogue, and both biblical and literary allusion in this paradoxical plot and, by way of Sheppard and the antithetical Rufus, blends the black and white of Christian dogma into an ironic grey. The contrast of light and dark begins with the descrip tion and characterization of the apparently angelic [comment4] Sheppard, and continues with the introduction of the obscure and ominous Rufus Johnson. O'Connor is not pretentious in her description and development of either character. Sheppard's white hair and â€Å"halo† are obvious references to his protagonistic status as the story's do-gooder [comment5] (Norton 371). The narrator continues on by lauding his charitable contribution to the community as a counselor and weekend volunteer for â€Å"boys no one else cared about† (372). The reader's only initial clue toward Sheppard's self-righteous mania is his deliberate, guilt-implying sermon towards Norton, his disconcerted and doomed son. It is not, however, until the arrival of the dim, drenched Rufus that seemingly stark white coat of Sheppard loses its untainted radiance. comment6] Johnson is literally cast as the black sheep from the moment he limps into the house in his soaking â€Å"wet black suit† (376). The ultimate personification of evil comes when he is physically compared directly to the perennial villian Adolf Hitler (378). His opaque character is developed as dark as his appearance through his unending ingratitude and spiteful words toward his supposed savior, Sheppard. The ambiguous dialogue between the two main characters continues to blur the line between the traditional literal concept of good versus evil and the author's own Grotesque version. comment7] O'Connor's use of foreshadowing and plot development through dialogue is essential to the work, and is much more obvious upon rereading it. Though Sheppard's works are concrete and compassionate, his words are abstract and empty. His answers to both Norton and Rufus come in rehearsed, logical explanations. [comment8] Sheppard's attempts to animate either child about their future are thwarted by his own uncertainty. The clearest example of this comes from one of the most crucial sections of the story, when Sheppard fails to satisfy Norton's desire to know where his deceased mother is: â€Å"She doesn't exist [. . ] That's all I have to give you, [. . . ] the truth† (383). [comment9] Where the â€Å"good† shepherd fails, the black sheep pr evails. The dark character that Rufus is developed into shows an admirable assurity and for once a faint light flickers from behind the â€Å"black sheen [that] appear[ed] in the boy's eyes† (375) as he describes the existence of heaven and hell to Norton, confirming that the boy's mother is â€Å"saved† (383). Then, in one of the most obvious uses of foreshadowing in the story, Rufus goes on to tell Norton [comment10] that â€Å"Right now you'd go where she is [. . . but if you live long enough, you'll go to hell† (383). Once again Sheppard and his voice of reason seem to grow grayer as he immediately tells Norton to close the window, as if to separate him from the stars and his newly found hope in the existence of his mother (383). Admittedly influenced by her orthodox Christian background (408), O'Connor scatters both biblical and assorted literal allusions throughout her story, creating somewhat of a parody of common Christian themes. The use of Sheppard as the name of the protagonist binds the character to some religious comparison immediately. This is only reinforced when Rufus pronounces bitterly: â€Å"He thinks he's Jesus Christ! † (381) [comment11]Another use of allusion with reference to Sheppard is Rufus' [comment12] crudely accurate accusation of him as a â€Å"big tin Jesus† (395). Like the forlorn tin man from The Wizard of Oz, Rufus' statement argues that Sheppard is just as hollow as that empty, heartless shell of a man, regardless of his outwardly good deeds. Perhaps the most encompassing phrase in the story is O'Connor's allusion to the verse in St. Matthew quoted in the first paragraph. [comment13] Repeated both at the beginning of the story and in his final appearance, Rufus declares that Sheppard â€Å"don't know his left hand from his right! † (377, 395). Clearly O'Connor is alluding to Sheppard's selfish or misguided agenda well illustrated when he tells Norton of his desire to help the orphaned Rufus. Sheppard's publicly done deeds are challenged by Rufus, the unwilling recipient of a well-meaning man going through the motions, yet craving some sort of reward for his actions. The once polarized characters grow ever closer with the equalizing power of reality. â€Å"The Lame Shall Enter First† ends as abruptly as it begins. There is no cathartic victory for the alleged [comment14] â€Å"good shepherd†, only the agony of total defeat. Sheppard's epiphany comes too late and the stark contrast that once distinguished him from the dark object of his alms turns into the faded realization that he is no better than the beleaguered beneficiary. Through O'Connor's strategic literary devices, deft character contrast, and parody of entrenched Christian values, the reader is left to digest and dissect the fact that maybe the entire flock [comment15] isn't worth one black sheep. Between the black and white islands of moral certainty, good and evil, there lies a sea of ironic grey. Works Cited The King James Version. Great Britain: Cambridge UP, 1996. O'Connor, Flannery. â€Å"The Lame Shall Enter First. † The Norton Introduction to Literature. Eds. Jerome Beaty and J. Paul Hunter. 7th ed. New York: Norton, 1998. 371-414.

Space Tornadoes - Seen in Space or from Space

Space Tornadoes - Seen in Space or from Space Space tornadoes is a weather term that can have 2 different meanings. A space tornado can mean a tornado that occurs in outer space or it can mean terrestrial tornadoes that can be seen from space. Keep in mind that only terrestrial tornadoes on Earth are technically classified as a real tornado. Cosmic Tornadoes from Young Stars Solar Windstorm Tornadoes auroras New research from the University of California has made detailed measurements of these space tornadoes, also known as substorm current wedges. According to a National Geographic News story, space tornadoes kick-start terrestrial auroras. The University of California team has discovered that space tornadoes form at least every three hours and take just a minute to reach the ionosphere. Tornadoes from Space weather satellites Weather on Other Planets Hows the Weather on Other Planets? is an excellent site to tour the typical weather on other planets. For instance, the temperature on Venus, with an intense greenhouse effect, can reach 900 degrees Fahrenheit. You can also tour the 1,00 mile per hour winds on the planet Saturn.

buy custom The Work of Children essay

buy custom The Work of Children essay I agree that the play is a work of children. The characters in the play are acting in the capacity of young children. They are attempting to bring out the scenario in the real world of children. The evidence of the play is brought out in the statement that the play cannot be convincing or interesting as the children. It took the characters a great deal of practice to do what was, well, childs play in the nursery (Paley, 2005). Address language, conversation, and stories and their role in play, according to Paley The language use in the play is child language. It is less sensible as it picks on anything randomly and gives a narration which has no direction in itself. The language uses sound devises such as Ahzz! Water, water! Gulp, gulp, gulp, come on, drink it! The language is the child version way of communication. Similarly, the conversation lacks the connection to be one contribution discussion. Every child does her things independently but talking to each other simultaneously at the same time. Each child in the play is pursuing a fantasy but seem to be aware of the other childcontribution in the play (Layne, 2007). Select one anecdote from the book, and discuss why it holds meaning for you in the context of the concept of play One anecdote from the book I select is the victory story of Vijay. It is an interesting one because of its tragedy and the victory. The plane crash into OHare, and into the Westin tall building. The plane was fixed by the mechanics and people were fixed by the doctors. The building was not fixed because it was on fire. The victory repeats when the people go home in her story (Cooper, 2009). Compare two children mentioned in the book, and discuss how their situation represents the concept of the importance of the play The two children mentions in the play are Kostos and Vijay. The Vijay story is about a plane that crash into an OHare, and into the Westin tall building. In his story, the tragedy was the plane crashing into the building (Bjorklund, Blasi, 2011). The plane was damage, the building burns and the people were injured. There was a victory on his story. There weree fixers who help to fix the damages. The fixers are mechanics, doctors and firemen (Rodney, 2009). Address the view of the concept of fantacy and imagination, as presented by by paley, with supporting details The concept of fantasy is brought out in the story of Kostos and Vijay. The plane crashing into an OHare, and into the Westin tall building was deadly tragedy and the narrator cannot be talking about the fixing, that could happen in the real set up. It is a fantasy that there were survivors who they were treated and discharge to go home (O'Loughlin, 2009). Describe the concept, example, or situation in this book which was most meaningful to you The concept which is meaningful to me in the book is the story of Vijay tragedy and victory story. The plane that crash into an OHare, and into the Westin tall building (Bjorklund, 2011). The plane was damage, the building burns and the people were injured. There was a victory on her story. There were fixers who help to fix the damages. The fixers are mechanics, doctors and firemen (Staples, Cochran, 2008). Buy custom The Work of Children essay

Dream Surrealist vs. Automatist Surrealist Essay

Dream Surrealist vs. Automatist Surrealist - Essay Example The essay "Dream Surrealist vs. Automatist Surrealist" discusses Automatist Surrealist and Dream Surrealist. From this era, artists and intellectuals both would increasingly use modern methods to explore the psyche and express its contents, seeking new forms and modalities of expression to accomplish the goal. Where dada sought to embrace the irrational and elevate it to a de facto cosmic principle, this is also recognition of the final deterioration of medieval systems of thought and the birth of the modern individual in Europe and internationally. As the avante garde artists of this movement, Andrà © Masson and Salvador Dali represent two aspects of early Surrealism, differentiated by their methodology of inquiry into the content of the mind and its expression into two factions, the dream surrealists and the automatist surrealists. Masson’s â€Å"Automatic Drawing† of 1924 is paradigmatic of the automatist school which used artistic methods based in illogic and chanc e to override the conscious aspects of both mind and artistic expression to search for self-discovery and universalism in the imagery of the subconscious and unconscious states of mind. To do so they often practiced automatic drawing in order to conjure these images out of the deeper states of consciousness by overriding the processes of the ego and the senses. In this manner, the surrealists based their art on an early form of Western depth psychology. The dream surrealists shared Freud’s infatuation with the symbolism of dreams and dream interpretation. and sought to express the imagery of dreams in their artwork. Yet, unlike the automatists, the dream surrealists did not seek to overcome the traditional use of the ego in painting, but rather to use the ego to express the language of dreams, a subtle difference that can be seen through comparing Masson’s work to one of Salvador Dali’s first dream surrealist paintings, â€Å"Inaugural Goose Flesh† (1928) . In 1924, Salvador Dali’s artwork was still very much exhibiting the influences of Cubism and of the Greek-Italian surrealist Giorgio de Chirico. Dali’s â€Å"Still Life† (1924) and â€Å"Port Alguer† (1924) both show the influence of Picasso and early Cubism, as well as Dali’s early experimentation with different styles such as Impressionism, reflected in the waters of the sea in contrast to the cubist architecture. (ArtMight, 2011) Yet, in â€Å"Still Life† (1924), the â€Å"metaphysical plane† introduced by de Chirico is beginning to be shown in his painting, fully evident four years later when Dali paints, â€Å"Inaugural Goose Flesh† (1928). This â€Å"metaphysical plane† is different than the traditional perspective of portrait, still life, or natural painting. What it does is replace the horizon and relation between earth and sky which dominates representational painting with an infinite horizon upon which anythi ng can arise, representing the plane of mind and the world of dreams. In de Chirico’s early work, the viewer has the unspoken understanding through the use of light on an artificial, imaginary, and infinite horizon, that the events or scene depicted is a dream image. Salvador Dali would become recognized by developing this aspect of the imaginary or metaphysical plane into his artwork over a long career, but it is in â€Å"

Andrew Jackson and William T. Sherman Essay Example | Topics and Well Written Essays - 500 words

Andrew Jackson and William T. Sherman - Essay Example Despite their important places in history, the credibility of both men has been a long debated issue. Known popularly as the ‘Old Hero’, Jackson was revered as a president bigger than life, whose prominence attributed him to an era. Despite his immense impact on the growth of the American economy during the years of his presidency, he is also argued as someone who was under the control of rather than being in control of the forces that governed the economic and political scenario during his era (Sean Wilentz, 2005). In contrast, there is a unanimous agreement to the fact that Sherman managed to succeed in his military offensives largely due to his ability in organization and command in the military and the consistency with which he played a psychological assault on his opponents. He was also known to display his ruthless rage with a sense of clarity (Edward Robins, 1905). Jackson as a leader was known to yearn for the agrarian past, which had dominated the American economy until then. In fact, he is widely regarded as devoting a large time during his term in office in an inconsistent battle towards resisting the prospects of a revolution in the markets (Robert Vincent Remini, 1969). In contrast to these differing personalities, Sherman was a man whose nature could be easily perceived from his behavior. He was someone whose complicated attitude would create a charming and interesting opinion, but would nevertheless do little towards helping anyone embrace him closely. He was known to be short tempered, garrulous and aggressive in his approach. Just like Jackson supported the practice of slavery, Sherman was a known racist (Faunt Le Roy Senour, 1865). Despite his insecurities, he was well acclaimed with the war and how to go about finishing it. Sherman was known to stir controversies with his provocative personality and often provided assurances on issues that others would