Benefits Of Starting A Home Based Business Essay - 1182 Words

The advantages of starting a home based business outweigh the time and small expense involved in setting up a viable business. For the long term, the overhead costs for starting a business in your home are very low. The government provides several tax incentives for individuals who have businesses set up in their home. There are some strict rules and regulations that must be met to qualify for the home-based business deduction but once confirmed, the tax refunds for having a home based business are very lucrative. In addition to the tax advantages, home based business owners have no daily transportation expenses. home based business owner has unlimited flexibility in balancing work and family commitments. Using technology for communication and business processes makes working from home a sensible and practical solution to the high price of gasoline, commuting time and costs of buying new clothes. Home-based businesses play a crucial role in the free enterprise system. These entrepreneurs contribute to the overall economy as well as the financial viability of their families. The ultimate dream of a home based business is to provide financial independence for the owner, their family and the community at large.. Some of the most widely recognized software retailers and cosmetic companies had their beginning in a garage. Companies like Apple Computer, Hewlett Packard, Dell, Microsoft, Lotus and even the cosmetic giant, Mary Kay, were initially started as home based businessShow MoreRelatedGlobal Financial Collapse Of 2008908 Words   |  4 Pagesbe threatened and that there is not secure job as that is a paradigm of the past. It appeared that the only viable option would be to start a business of their own. In an effort to minimize expenses most of the businesses that these people, who are known as entrepreneurs, are starting businesses in their own homes. The businesses are referred to as home-based businesses and it is believed that they have generated a large portion of the economy in the United States alone. Some of the most profitableRead MoreEssay about Business Research Week 1891 Words   |  4 Pagessummary of the business research process by describing the business research process from your experience in the workplace or in an article you find through the University Library. Format your paper consistent with APA guidelines. 2.1 State the purpose of the business research. 2.2 Develop appropriate research questions and hypotheses. 2.3 Identify dependent and independent variables in business research. Introduction In this paper I will discuss the business research processRead MoreHome Depot Economic Indicators Essay804 Words   |  4 PagesHome Depot Economic Indicators Two of the economic indicators, housing starts and interest rates have a trickle down effect on Home Depots business. 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There are many different types of business structures which are available to choose like sole traders, online marketing and partnership. In Australia, there are many busi ness start up companies that help to set up the business from scratch, On other hand some firms do not need any help to set up a business. They are capable of starting up a new business. When Forming a new business, it is importantRead MoreEssay On Sole Proprietors757 Words   |  4 Pagescertain business expenses from your overall income. There are certain business expenses that you want to make sure you track carefully because the IRS tends to securitize these types of business expenses more closely. #1 Home Office One of the biggest expenses for most sole proprietors is their home office. The IRS has set it up so that you can deduct the portion of your bills, such as your energy, internet and even your mortgage, based on the percentage of your home that you use as a home officeRead MoreReview Of Work From Home Careers 934 Words   |  4 PagesWork From Home Careers By Lee Favre | Submitted On January 03, 2012 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest With the proliferation of the internet and the acceptance of the many ways to communicate online orRead MoreTesco: from Domestic Operator to Multinational Giant (Case Study from Exploring Strategy 9/E)1048 Words   |  5 Pagescapital investment within UK, which also led to opportunities in the international markets as they were a profitable business. Tesco had extensively studied the Asian market in late 90s and due to the rapid liberalization of previous restrictions on retail FDI across East Asia; it gave Tesco the perfect opportunity to move into these new markets, particularly Asia and within Asia starting with Thailand and South Korea. During the Asian economic crisis domestic conglomerates required funding and as aRead MoreEnvironment And Strategy Report Zach And Joel1108 Words   |  5 PagesEnvironmental Challenges we Anticipate We expect to face many environmental challenges when launching our tiny home venture. Because of the â€Å"newness†, many people do not know how to feel about tiny homes. This new home requires buyers aware and informed, and requires that one be open to learning more. This impacts us because it requires us to educate the customer about tiny homes, and the best practices when we are connecting them to builders. To counter this challenge, we plan to make engaging

Essay on Hamlet as a Tragic Hero - 1051 Words

Hamlet as a Tragic Hero William Shakespeare, the greatest playwright of the English language, wrote a total of 37 plays in his lifetime, all of which can be categorized under tragedy, comedy, or history. The Tragedy of Hamlet, Shakespeares most popular and greatest tragedy, displays his genius as a playwright, as literary critics and academic commentators have found an unusual number of themes and literary techniques present in Hamlet. Hamlet concerns the murder of the king of Denmark and the murdered kings sons quest for revenge. Its main character, Hamlet, possesses a tragic flaw which obstructs his desire for revenge and ultimately brings about his death. This tragic flaw makes him a tragic hero, a character who is destroyed†¦show more content†¦Next, Hamlets flaw of irresolution is shown after his third soliloquy, the famed To be or not to beÂ… lines. Hamlet directly identifies his own tragic flaw, remarking of his own inability to act. Hamlet, unsure whether or not the his uncle Claudi us was responsible for his fathers murder, schemes to have The Murder of Gonzago presented to the royal court, with a few minor changes, so its contents would closely resemble the circumstances behind the murder. Reflecting on his own guilt, he talks of death, referring to it as the undiscovered country, and then continues by riddling his own feelings. He declares conscience does make cowards of us all and that the natural ruddy complexion of one intent, or resolute, on an action is sicklied over with the pale cast of thought. This makes an individual second guess his own actions and often times take no action at all, due to his own irresolution. These statements not only applied to what had occur ed up to that point but also foreshadowed what was to occur . Next, Hamlets flaw of irresolution is shown during his fourth soliloquy. Fortinbras, the Prince of Norway, and his army have passed by Hamlet and his escorts. Hamlet sees the action Fortinbras was taking in fighting and then examines Fortinbrass efforts and bravery in an attempt to rekindle his own desire for revenge against Claudius for his fathers death. Hamlet remarks how everything around him attempts to spur myShow MoreRelatedHamlet As A Tragic Hero850 Words   |  4 Pagesas a hero if they revenge? Well In the novel Hamlet the author, William Shakespeare creates tragic events where his main character Hamlet has to overcome to achieve his goal of killing his evil uncle Claudius. â€Å"In life one has to do bad thing in order to be a hero,the hero also has to make sacrifices in order to be successful† (John Barrowman). In Shakespeare Hamlet, should hamlet be considered a tragic hero judging by him following the hero steps. Shakespeare proves that Hamlet was a tragic heroRead MoreHamlet, A Tragic Hero1003 Words   |  5 Pagesmemorable trag ic hero’s Hamlet is the definition of a tragic hero. In the book, Hamlet, Shakespeare’s character hamlet is determined on killing his uncle the king. This goal proves to be challenging to him due to his morals. He often struggles with this throughout the book. This proves to be his downfall for not deciding to kill the king until the very end. A tragic hero has to have a fatal flaw that, combined with fate, brings tragedy. This is one of the key characteristics of a tragic hero. He hadRead MoreHamlet As A Tragic Hero1071 Words   |  5 Pages Hamlet as a Tragic Hero The Webster dictionary defines tragedy as, â€Å"a serious drama typically describing a conflict between the protagonist and a superior force and having a sorrowful or disastrous conclusion that excites pity or terror.† (Webster Dictionary) So a tragic hero is a character who goes through a conflict and suffers catastrophically as a direct result of his choices. You will see throughout this story that the character Hamlet is a clear example of Shakespeare’s tragic hero. ShakespeareRead MoreHamlet : A Tragic Hero995 Words   |  4 PagesHamlet: A Tragic Hero William Shakespeare is known through the ages as a brilliant playwright. He has written several comedies and tragedies that people have loved through decades. Shakespeare’s plays have been interpreted in many different ways and have been debated on which interpretation is correct. Some of these included even the basis of the character’s persona. In the Shakespearean tragedy Hamlet, the main protagonist, Prince Hamlet, is fated by the ghost of his late father that, becauseRead MoreHamlet as a Tragic Hero2505 Words   |  11 Pagesterror. A tragic hero, therefore, is the character who experiences such a conflict and suffers catastrophically as a result of his choices and related actions. The character of Hamlet is a clear representation of Shakespeares tragic hero, as he possesses all the necessary characteristics of such a hero. Hamlet is seen as a tragic hero as he has doomed others because of a serious error in judgment, also Hamlet is responsible for his own fat e and Hamlet has been endowed with a tragic flaw. TheseRead MoreHamlet As A Tragic Hero1305 Words   |  6 Pages Sympathy is a feeling of sorrow, pity, or understanding of someone else’s misfortune. Hamlet, in this case, is the tragic hero due to many different sources that cause the reader to have an immense amount of sympathy for him. A series of events such as murder, failed relationships, and all the madness, created the feeling of sympathy from the audience. These specific sources cause the reader to see the development of the overall themes of deceit, justice, and revenge. Deceit is one of the mainRead MoreHamlet; Tragic Hero3618 Words   |  15 Pages Hamlet; The Tragic Hero            Ã‚  Ã‚      In many plays there is always one person that is the tragic hero. They always possess some type of tragic flaw that in turn leads to their tragic deaths. In the Shakespearean play Hamlet the main character Hamlet is considered to be a tragic hero. By carefully analyzing the Shakespearean play Hamlet one can debate whether the main character Hamlet is a tragic hero. Although it is debatable whether or not Hamlet is a tragic hero, one wouldRead MoreIs Hamlet A Tragic Hero Essay961 Words   |  4 PagesTo be, or not to be: a hero. That is the question often asked of William Shakespeare’s tragedy, Hamlet: whether Hamlet II, Prince of Denmark, can be considered a hero. Throughout the play Hamlet proves himself to be a hero, although different from the usual sense of one. Hamlet is a tragic hero, â€Å"a great or virtuous character . . . who is destined for downfall, suffering, or defeat . . . who makes an error of judgment or has a fatal flaw tha t, combined with fate and external forces, brings on a tragedyRead MoreHamlet As The Tragic Hero Of The Play Hamlet 1314 Words   |  6 PagesIn order to better understand Hamlet one must first asses, and define man. According to webster dictionary a man is a male often having the qualities associated with bravery,script or toughness(site webster dictionary www.define a man.com here). We know the male figure is known to exhibit distinctive male traits such as strength, dignity, courage and be a provider and supporter. As seen in Hamlet one must understand the male figure to better understand Hamlet and why the male behave in such waysRead MoreHamlet: A Tragic Hero Essays697 Words   |  3 Pagestragedy of Hamlet, Shakespeare’s most popular and greatest tragedy, presents his genius as a playwright and includes many numbers of themes and literary techniques. In all tragedies, the main character, called a tragic hero, suffers and usually dies at the end. Prince Hamlet is a m odel example of a Shakespearean tragic hero. Every tragedy must have a tragic hero. A tragic hero must own many good traits, but has a flaw that ultimately leads to his downfall. If not for this tragic flaw, the hero would be

Two Men’s World †an Analyses of Godfather Free Essays

string(48) " he was their god and mainstay for their lives\." Wen 1 Hang Wen Dr. Nirmal Trivedi English 1102 January 30th, 2010 Two Men’s World —-An Analyses of Godfather and Apocalypse Now Godfather and Apocalypse Now, both are great movies, and both are the first windows, through which I first saw America. At the first sight, these two movies seem to have a lot of similarities: both are one of the best hits in history, both starred by Marlon Brando and directed by Francis Ford Coppola, both slow-paced and 3-hour long, and both had a deep influence in the American society. We will write a custom essay sample on Two Men’s World – an Analyses of Godfather or any similar topic only for you Order Now On the other hand, two movies have so little in common: one is talking about the Mafia in New York, yet the other is demonstrating the wars in the Indo-China Peninsula; one is completely rational and calm, where the old Don hearing that his son was killed, just showed his grief for one second and then turned to business, yet the other went to another extreme, showing an entire insane world, where men were either mad or going mad. However, if we examine the two movies carefully and only grasp the kernel, we’ll find that both movies are actually between two men Don Vito Corleone and his counterpart in the other film Colonel Kurtz, who are both strong in mind, worshipped by people and is the center of power in his world, Thus, both movies together, the Godfather Wen 2 and Apocalypse Now are demonstrating a two-man world, filled with philosophy, wisdom and a strong will. Let’s look at the Godfather, Don Vito Corleone first. Don Corleone appeared at the very start of the film, which was the wedding party of Don’s daughter Coney, and the beginning scenes already fully demonstrated the Godfather’s high and divine place. As Sicilians never refused any requests on a wedding day, many people came to the Godfather for â€Å"justice†, one of whom was Bonasera, an Italian-American undertaker. The film started by his famous line, â€Å"I believe in America†, at which time the screen was still dark; then his face and forehead appeared on the screen, and he continued â€Å"America has made my fortune†. However, America failed to give him justice: His daughter was beaten to disfigurement and almost raped but the suspects only received a suspended sentence. Thus he came to Godfather, who was awed y because of not only his personally charm but also influence and deterrence. Interesting the reply of the Godfather was that he didn’t agree or decline at the beginning, but he began to mock that Bonasera never treated him as a friend and never invited him to cafe. Sadly, the obtuse Bonasera didn’t get Godfather’s message, and proposed that he could pay money. Then the Godfather had implicitly pointed out:†If you’d come to me in friendship, then the scum that ruined your daughter would be suffering this very day†¦Ã¢â‚¬ ¦ † Then the most interesting scene comes: When Bonasera tentatively asked â€Å"be my friend†, Godfather did not answer and was just casually looking around; Finally Bonasera realized what he should do: he then bowed, kissed Corleone’s hand and called him â€Å"godfather†. And Corleone replied with â€Å"Good†, which was enough to bring justice to this Wen 3 poor undertaker. From the dialogue above, it is not hard to get the implicit message from the Godfather, that though he was asking people to come in â€Å"friendship† and to treat him to a cafe just like a friend, he did not really want to people do so; Every action he did and every word he spoke was suggesting that they did not deserve to call him â€Å"Corleone†, instead they should call him â€Å"Godfather† and bow and kiss his hand. It is this kind of worship, that though he stays close to you, he is always overlooking at you and that though he never forces you to do anything, he just makes you fear. Colonel Kurtz, also portrayed by Marlon Brando, built a similar worship in the other movie Apocalypse Now. Opposite from the Godfather, Colonel Kurtz did not appear until the last part of the movie. His image, however, has been impenetrate through the movie, though is vague most of the time. In this 3-hour-22-minute film, the first 2 hours and 28 minutes was used to describe Willard’s journey up the Nung River from Saigon to the remote Cambodia jungle, in which we only knew that Colonel Kurtz was probably mad and built a so-called colony. However, the feeling of madness and fear was augmenting among Willard’s team. They lost two men and became so nervous that they shot to the innocents. They saw the soldiers along the river losing control and going mad and finally they went mad themselves: Lance painted him with powders and did yoga anomicly. In such condition, they reached their final destination. On the fog-wreathed water, a group of people with mysteriously painted faces disciplinarily lined up in the river-boat; and half-naked corpses were hanged on the trees by the river. With the cryptic background music, the one-minute-long scene for the first time portrayed the colony that Colonel Kurtz had built. Wen 4 People seemed to be submissive and unconscious and an atmosphere of fear and sacred was in every corner. Though Colonel Kurtz still did not show up, he had brought an inenarrable horror to everyone, as Willard described: â€Å"Everything I saw told me that Kurtz had gone insane. The place was full of bodies – North Vietnamese, Vietcong, Cambodians. If I was still alive, it was because he wanted me that way. † What a power Kurtz had put on this land. Then appeared the photojournalist, who being a big fan of Colonel Kurtz, crazy himself and hanging 4 cameras on his neck. Through his word, we knew Kurtz’s social standing here. Very cool†¦Very cool†¦But he can be friendly†Ã¢â‚¬ You don’t judge him†Ã¢â‚¬ He’s gone to the jungle. He disappears with his people. He forgets himself for his people†. Colonel Kurtz was worshipped by the people here; he was their god and mainstay for their lives. You read "Two Men’s World â⠂¬â€œ an Analyses of Godfather" in category "Essay examples" He received the same kind of worship as the Godfather and they both demonstrated the same power which is a combination of personal charm and strength, making people coming to them, bowing their backs and bending their knees, without pushing them. They were just like producing a magnetic field around them, separating them from others and making them divine. They were both calm and did not talk too much, because they expected others to get the message from their eyesight and even from any tiny actions of them. And when it comes to a time they had to show their strength, they were still calm and elegant. The Godfather sent Tom Hagen to Hollywood to get his godson Johnny Fontane the leading role of a film. The director Jack Woltz, who was also powerful and even had dinner with the president, obviously did not regard this as a matter and arrogantly rebuked Tom Hagen’s proposal. Tom left peacefully for â€Å"Mr. Corleone is a man who insists on hearing bad Wen 5 news immediately†. But in the next morning, he found the decapitated head of his beloved stud horse in his bed with him. And a week later, Johnny called back to say that he got this role. Godfather himself even didn’t appear in this event, but his great power could be felt. Even fewer scenes were in Apocalypse Now to directly demonstrate the power of Colonel Kurtz, except one midnight Colonel Kurtz grasped the Chef’s (who had been with Willard through the journey) head and silently put it between Willard’s two legs. Willard then woke up and screamed. For the first time in the movie, Willard showed some kind of fear and horror. Colonel Kurtz calmly watched him and walked away. Even without word, Kurtz let Willard know that if anyone was alive it was because that he let him alive and that if he was killed it was because that he let him to be killed. Generally speaking, two films demonstrate the main characters’ power in an indirect way, most from the third person’s angle, partly because that their power was too overwhelm to depict directly. Their power and worship received is essentially the same. Just as I have mentioned above, both are due to their personal character and magnet. However, some people may say that these two characters are essentially different, because Godfather is extremely rational but Colonel Kurtz is always characterized by the word â€Å"mad† or â€Å"insane†. This reasoning is not true. Colonel Kurtz is not that a mad man that you usually see in an asylum. He knows what he is doing and his logic is clear. And most important, he has his own philosophy, such as what he told Willard â€Å"We must kill them. We must incinerate them. Pig after pig. Cow after cow. Village after village. Army after army. And they call me an assassin. What do you call it when the assassins accuse the assassin? Wen 6 They lie. They lie, and we have to be merciful, for those who lie. Those nabobs. I hate them. I do hate them. † People in the movie say that he is insane because they do not understand his philosophy and the way he speaks: most of the time, he seems to be like talking to himself. He is really in his own spiritual world. But isn’t the Godfather? Don Corleone also has his own view of the world and is stick to it, such as â€Å"be close to your friend but closer to your enemy† and â€Å"Women and children can be careless, but not men†¦Ã¢â‚¬ ¦ † He is so stick to his own value that he refused to get involved into the narcotics business, which resulted in big trouble, and he also conceals himself in his own world by saying â€Å"Never tell anyone outside the Family what you are thinking. † On the other hand, the Godfather and Colonel Kurtz are indeed different. Though with equal power and intelligence, Godfather seems to live in happiness while Kurtz in great pain. The last word of Godfather is â€Å"The world is so beautiful†, but the last word of Kurtz is the famous â€Å"The horror†¦The horror†¦Ã¢â‚¬  Then what is it that causes such a difference? The journalist gave one answer, â€Å"He’s clear in mind, but mad in soul†. And my answer is â€Å"the family†. Fighting away from home, Colonel Kurtz got no support from family, where everyone truly loved him. From his letter to his son (â€Å"I’m afraid that both you and your mother would have been worried for not hearing from me these past weeks. But my situation here has become a difficult one. I’ve been officially accused of murder by the Army. The alleged victims were four Vietnamese double agents. We spent months uncovering and accumulating evidence. When absolute proof was completed, we acted, we acted like soldiers. The charges Wen 7 are unjustified†¦Ã¢â‚¬ ¦. †) and his conversation to Willard (â€Å"I worry that my son might not understand what I’ve tried to be. And if I were to be killed, Willard, I would want someone to go to my home and tell my son everything – everything I did, everything you saw†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Willard, you will do this for me†) we can derive that he received unjustified charges in military but his wife and son did not understand him. Then he gradually isolated himself and escaped to this little-known place and ruined it. Alone and lonely, great pain he suffered and finally went insane. The Godfather, however, has always been putting the family at the first place, just as he said â€Å"If you never spend time with your family, you would never be a man†. He detested any disloyalty to the family and asked his sons to stick to this rule. He had a wonderful and happy family himself. He died when playing with his grandson, and found â€Å"the world is so beautiful†. In conclusion, both Don Corleone and Colonel Kurtz are great man, who are powerful and influencing people around them in a special way. They both have their own philosophy and spiritual word. They are quite similar in many ways except that the Godfather has a happy family, which makes their lives ending in so different ways. Wen 8 Works Cited Godfather. Dir. Francis Ford Coppola. Perf. Marlon Brando and Al Pacino. Paramount Pictures, 1972. DVD. Apocalypse Now (Redux version). Dir. Francis Ford Coppola. Perf. Marlon Brando and Martin Sheen. United Artists, 2001. DVD. How to cite Two Men’s World – an Analyses of Godfather, Essay examples

Impairment Loss for Cash Generating Unitsâ€Myassignmenrthelp.Com

Question: Discuss About The Corporate Accounting And Reporting? Answer: Introducation Impairment of assets as per Australian accounting principles is governed by the provision of AASB 136 and IAS36. This standard aims to describe the provision to be applied by corporate entities to ensure that assets are carried at fair value which is not higher in comparison to recoverable amount. An asset is considered to be impaired if it is recorded at an amount higher than its recoverable amount i.e. value receivable through sale or disposal at present point of time. On such assets, an impairment loss is required to be recorded. In addition to this, provisions of the Standard stipulated cases where business entities are required to make a reversal of impairment loss and prescribes disclosures associated with the same.The present essay is focused on the evaluation of Reversal of impairment loss for cash generating units by considering relevant accounting standards. The standard specifies the testing of all tangible and intangible assets excluding assets which are comprised under other IFRS. As per the standard, it is necessary that the carried value of the asset should not be higher than recoverable amount. For accomplishing its objectives, the standard specifies that the entities should test all the assets in order to ascertain that whether they are within the scope for potential indicators of impairment exist or not. The same is to assess at each reporting date to ascertain whether the indicators exist or not and for ascertaining it internal and external information is to be considered by the management. IAS 36 had stipulated the circumstances in which a corporate entity is required to record reverse of an impairment loss for cash generating unit (CGU). In accordance with this standard, CGU is a slightest recognisable group of assets which generates inflows of cash that are mainly liberated of the cash inflows from other groups of assets or cash. In CGU, reversal of an impairment loss is acknowledged an immediate basis in the income statement. However, this aspect is not applicable in the case where carried value of the asset is revalued amount; in this case, the reversal of impairment loss is treated as an increase in revalued amount. In accordance with the provisions of IAS 36, assessment of impairment should be done on the basis of individual assets. In the case where the recoverable amount is not determinable for the individual asset, then in such case entity decides the carrying value of the cash-generating unit to which the asset belongs. Study of Bartov, Goldberg and Kim, (2012) shows that it is not feasible to make the computation of the recoverable amount of an individual asset and further compute there coverable amount of the CGU to which that particular asset belong. Impairment testing of CGU by the companies is time intensive and inclusive of following aspects: The identification of impairment indicators; Assessment and reassessment of cash flows; Determination of the discount rates; Analysis of the sensibleness of the assumptions Benchmarking the assumptions with the market. In accordance with the study of Barth, Landsman and Lang (2013), the company should make an analysis of impairment by considering its key triggers. For example, if the value if market capitalisation is lower than net asset value then it is an impairment trigger, and computations of recoverable amount are to be done. IAS 36 stipulated that reversal of impairment loss for a CGU, the amount to be reversed is allocated or apportioned to the no. of assets covered in the unit on a pro rata basis with the carrying amounts of those assets (Edwards, 2013). However, this does not include goodwill. For the allocation of the reversal amount, the carrying amount of an asset cannot be increased higher in comparison to the lower of its carrying amount and recoverable amount. This amount must be net from respective depreciation or amortisation which have been acknowledging in a situation where there has no recognition of impairment loss inprior periods. Corporate entities are required to make an assessment of impairment at the end of each reporting year to identify whether there is any indication regarding impairment loss or reversal of recognised loss in prior periods for an asset except goodwill (Johansson, Hjelstrm and Hellman, 2016). In the case of the existence of such indication, then the entity is required to make an estimation of therecoverable amount of cash generating unit. In the case where there is an indication of the existence of impairment reversal, the assessment of recoverable asset is made. Provision of Australian accounting standards states that reversal of an impairment loss of cash generation unit is recognised on the immediate basis for profit or loss statement. This provision is not applicable in a situation where carried value of the asset is revalued amount in accordance with IAS 16 (Lhaopadchan, 2012). In this case, the reversal is required to be considered as a revaluation increase and accounted as per provision of IAS 16. After an accounting of reversal, the charge of depreciation or amortisation is made in future periods to for the allocation revised carrying amount less it's residual value (if any)on a regular and logical manner over its remaining useful life of the asset (Henderson, Peirson and Howieson, 2015). According to AASB 136, paragraph 130 disclosure of reversal of impairment loss is made in the income statement. Study of Weil, Schipper and Francis (2013) shows that the amount is to be reversed in the section of other comprehensive income. In notes to accounts company is required to describe the event or circumstances that had led to the reversal of impairment loss. Further description of cash generation is given by mentioning the amount to be reversed by class of assets or particular segment. In the case where recognised reversal of impairment loss is material in aggregation to the financial statements in such as the company is required to disclose the main class of assets affected by this reversal. Journal entry to recordimpairment loss: Cost model Accumulated depreciation impairment losses Dr. xxx Income - impairment loss reversal Cr. xxx Revaluation model Asset Dr. xxx Deferred tax liability Cr. xxx Asset revaluation surplus Cr. xxx Journal Entry Journal Entries relating to impairment loss in the books of Gali Ltd. as on 30th June 2015 Sr. No. Date Particular Dr. Amount Cr. Amount 1 30.06.2015 Impairment loss Dr. 69000 Goodwill 23000 Patent 16717 Accumulated amortisation and Impairment Losses (Equipment') 15451 Accumulated amortisation and Impairment Losses (Fittings) 9712 Accumulated amortisation and Impairment Losses (Inventory) 4120 [Being impairment loss attributed to assets on pro-rata basis except for patent and goodwill.] Calculation of Impairment Loss Carrying amount of assets 677000 Value in Use of assets 608000 Impairment loss 69000 As per the view of Weil, Schipper and Francis (2013), in accordance with the provision of IAS 36, the impairment loss will be initially set off with the amount of goodwill i.e. 23000 then the remaining amount will b allocated proportionately to remaining assets except cash. In the present scenario as the fair value of a patent is provided in the question than the impairment loss which will be allocated to the remaining assets will be calculated as follows: Total impairment loss- Amount of Goodwill Impairment loss allocable to patent* Loss allocable to patent = Carrying amount Value in use 455000-438283 $ 16717 Calculation of remaining impairment loss: = 69000-23000-16717 = 29283 (Amount in $) Particular Value in Use Proportion Allocation of loss Balance Amount to be carried Patent 455000 16717 438283 Equipment 105000 29283*105000/199000 15451 89549 Fitting 66000 29283*66000/199000 9712 56288 Inventory 28000 29283*28000/199000 4120 18880 II Impairment Account Date Particular Amount Date Particular Amount 30.06.2015 Accumulated Impairment Loss 69000 30.06.2015 Profit and Loss Account 69000 References Books and Journal Andersson, S. and Wenzel, F., 2014. Application of IAS 36Impairment of fixed assets-A qualitative study about the main challenges for companies regarding impairments. Barth, M.E., Landsman, W.R. and Lang, M.H., 2013. International accounting standards and accounting quality. Journal of accounting research, 46(3). pp.467-498. Bartov, E., Goldberg, S.R. and Kim, M., 2013. Comparative value relevance among German, US, and international accounting standards: A German stock market perspective. Journal of Accounting, Auditing Finance. 20(2),Pp.95-119. Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting) (Vol. 29). Routledge. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU. Johansson, S.E., Hjelstrm, T. and Hellman, N., 2016. Accounting for goodwill under IFRS: A critical analysis. Journal of International Accounting, Auditing and Taxation, 27, Pp.13-25. Lhaopadchan, S., 2010. Fair value accounting and intangible assets: Goodwill impairment and managerial choice. Journal of Financial Regulation and Compliance. 18(2), Pp.120-130. Weil, R.L., Schipper, K. and Francis, J., 2013. Financial accounting: an introduction to concepts, methods and uses. Cengage Learning. Journal entry to recordimpairment loss: