Accounting Rough Waters - 2652 Words

This case gives students an opportunity to determine the accounting for impairment of long-lived assets in accordance with ASC 360-10. Applicable Professional Pronouncements ASC 360-10, Property, Plant, and Equipment: Overall (ASC 360-10) ASC 360-10 provides guidance on accounting for property, plant, and equipment, and the related accumulated depreciation on those assets. This Subtopic also includes guidance on the impairment or disposal of long-lived assets. ASC 360-10 notes that long-lived tangible assets include land and land improvements, buildings, machinery and equipment, and furniture and fixtures. ASC 820, Fair Value Measurements and Disclosures (ASC 820) ASC 820, Fair Value Measurements and Disclosures,†¦show more content†¦Further, although the case facts include an estimated annual discount rate of 7 percent, the discount rate should not be used in Smooth Sailings’ impairment analysis since undiscounted cash flows should be used in the recoverability test. Consideration 3 — Impact of Potential Foreclosure and Extinguishment of Debt to the Undiscounted Cash Flow Model What impact should the potential foreclosure and extinguishment of debt have on the cash flows used to perform the recoverability test? Discussion 2 — Impairment Loss Calculation What impairment loss, if any, should be recorded as of December 31, 2010? Solution 2 — Impairment Loss Calculation | | Estimated Future Cash Flows — Undiscounted | Option | Probability of Occurring | 2011 | 2012 | 2013 | 2014 | 2015 | Total | A | Continue operating the cruise ship in the current area. | 10% | $1.0M | $0.9M | $0.7M | $0.7M | $0.7M | $4.0M | B | Operate the cruise ship in a new area where there are no pirates. | 20% | $0.6M | $0.8M | $1.1M | $1.6M | $1.9M | $6.0M | C | For 2011, operate the cruise ship in the current area despite the increased presence of pirates. On DecemberShow MoreRelatedCase 12-09 Rough Waters Ahead1041 Words   |  5 PagesCase 12-9 Rough Waters Ahead - IFRS 1. 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History of Acquired Immune Deficiency Syndrome Essay

History of Acquired Immune Deficiency Syndrome Acquired Immune Deficiency Syndrome (AIDS), specific group of diseases or conditions that result from suppression of the immune system, related to infection with the human immunodeficiency virus (HIV). A person infected with HIV gradually loses immune function along with certain immune cells called CD4 T-lymphocytes or CD4 T-cells, causing the infected person to become vulnerable to pneumonia, fungus infections, and other common ailments. With the loss of immune function, a clinical syndrome (a group of various illnesses that together characterize a disease) develops over time and eventually results in death due to opportunistic infections (infections by organisms that do not normally cause†¦show more content†¦About 430,000 of these deaths occurred in the United States. II CLINICAL PROGRESSION OF AIDS The progression from the point of HIV infection to the clinical diseases that define AIDS may take six to ten years or more. This progression can be monitored using surrogate markers (laboratory data that correspond to the various stages of disease progression) or clinical endpoints (illnesses associated with more advanced disease). Surrogate markers for the various stages of HIV infection include the declining number of CD4 T-cells, the major type of white blood cell lost because of HIV infection. In general, the lower the infected person’s CD4 T-cell count, the weaker the person’s immune system and the more advanced the disease state. In 1996 it became evident that the actual amount of HIV in a person’s blood—the so-called viral burden—could be used to predict the progression to AIDS, regardless of a person’s CD4 T-cell count. With advancing technology, viral burden determinations are quickly becoming a standard means of patient testing. An infected person’s immune response to the virus—that is, the person’s ability to produce antibodies against HIV—can also be used to determine the progression of AIDS; however, this surrogate marker is less precise during more advanced stages of AIDS because of the overall loss of immune function. Within one to three weeks after infection with HIV, most people experience nonspecificShow MoreRelatedHistory Of Acquired Immune Deficiency Syndrome1272 Words   |  6 PagesThe history of Acquired Immune Deficiency Syndrome in the United States starts in 1981, the year it became recognized by country as an official new strange disease. By 1982 it was recognized as Acquired Immune Deficiency Syndrome (AIDS). It started in San Francisco, with five young homosexual men, they were presented with Pneumonia (PCP). As the year went on there were more reports of homosexual men presenting PCP and some of them were diagnosed with PCP and Kaposi ´s Sarcoma (KS). 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Race for Life Cancer Research Blackpool

Introduction Race for life is known to be a series of events that are conducted to raise funds for women only. Organization of this event is done is done by the Cancer Research UK which is a British charity. These events conduct several activities such as walking, jogging and running. These races that are conducted are done in the course of 5 kilometres and focus on the aim of raising funds and sponsorships. The funds raised by this event are distributed amongst 200 categories of cancer disease. The event possesses a status of being gender segregated that has resulted in giving rise to certain complaints (Wynick 2014). It has also resulted in the development of alternate events for men that include events of short run for 5 kilometres for Moore. The Fund for Imperial Cancer Research had identified Jim Cowan who possessed the actual concept for the generation of Race for Life. The respective Fung then started being engaged with Mr. Cowan for organizing and enacting as director of the race that was conducted for the very first event of Race for Life. This event took place in Battersea Park in the year 1994. In this particular event, almost 750 candidates had participated and the fund raised was almost 48,000. In the next year, extension of the race was done to 6 different venues and consisted of 4500 participants. This race contributed in raising 210,000 (Williams 2014). As years passed, there was an improvement in the intensity of events with different venues raising large amount of funds. Due to this success and popularity, it has been identified as one of the biggest events for raising fund. Due to this particular reason and possessing a good cause to raise funds, this particular event now takes place in every year for raising funds for 200 categories of cancer. Survey A survey was conducted on the public and volunteers / participants to gain feedback from them regarding the different events and the overall campaign of Blackpool Cancer for Life event 2014. The participants for the survey were randomly selected to gain a valid and in-depth view on their experience at the event. In total seven questionnaires were distributed in which three were filled by visitors or public, two by volunteers whereas the remaining three by participants. However, the survey process followed a random approach regarding the selection of sample; it was ensured that the people belonging to different age groups were addressed and were interacted with for the filling up of questionnaire (Wade 2014). This was essential to gain a valid and realistic argument or perception regarding the overall customer experience. Results and Analysis Public The analysis of survey results demonstrates that two of the public participants were not local and both of them were female (The Gazette 2014a). However, one of them was not aware prior to the event that the Race for life event is going to held. The same can be perceived as the merit and demerit as well. Merit as it reflects the charm and reputation of concerned event that attracted the non-local people towards it. Demerit as it clearly demonstrates the ineffectiveness of advertising and promotional activities performed prior to the event. Considering their experience, two of them responded that they were somewhat satisfied with the overall event whereas one female responded that she was quite satisfied (Toum 2014). Moreover, regarding the success of cancer for life event in achieving the vision and mission of the cancer for life research, each of them responded in support of its. Thus, the event seems to be appreciable amongst public as neither of them commented any negative remark. The aspects which were highly appreciated by the public, in context of the participants responses, were structure of event, safety and security, and preparation of presenters. However, people felt that the length of event was somewhat long. The participants also responded that they had a quite a bit better or great deal better experience during the event. Moreover, since each of the participants responded that he or she will surely come to another cancer for event at Blackpool, the overall objective of making the people aware and raising funds for cancer patients seem to have achieved (The Gazette 2014b). The public seems to be highly satisfied with the experience they had, however, the associated executives must work on the advertising and promotional practices, as two of the participants responded that they were not aware of the event details and joined it after seeing the entertainment or learning the event detail from a friend. Further, the online practices seem to be highly effe ctive as one of the participant responded that he gained the information of event from online. The managers or executives also need to plan the event at a better time as each of the participants commented that the event was amazing but the windy and cold weather let it down. They also commented that the contribution of volunteers was really appreciable as they appreciated the support and cheer that they did with full enthusiasm (The Gazette 2014a). The spokes person was also appreciated and people perceived him as one of the key success factor for the whole event. Volunteers / Participants The analysis of volunteers responses demonstrates that the volunteers were also quite satisfied with the overall event. According to the volunteers, event structure, police security, first aiders, presence of ambulance, commitment of event, and team work were the key success factors of event. However, the volunteers complained that they were not made aware of their specific roles as volunteers and were not provided with all necessary information for their role prior to the event. This seems to be a big loophole in the event management and may have lead to negative outcomes (Pudelek 2014). Thus, the managers and executives must address this problem and provide effective training and counseling sessions to each of the volunteer prior to the event, while making them aware of the overall location. The volunteers also responded that the location and time could have been better, although it was good for the run and had a smooth course. The volunteers believed that the event lacked in visib ility, first aid timing, marking of volunteers and better communication tools or equipment (Snead 2014). However, they also felt that the atmosphere and the structure were above expectations, well structured and lively. The analysis of participants responses demonstrates that most of the participants were non-local as one of the participants was from Chorley and other was from Blackburn (Pudelek 2014). As one of the participants aged between 20 to 30 years and others mother was also participating, as commented by him, the event was successful in reaching people from almost all age groups. The participants considered the safety and security, presence of ambulance, first aid bikes, adequate information, commitment, team work, structure of event, and location were the key success factors of the event. All the responses from the participants were in support of the event and liked every aspect. They appreciated the crowd as they motivated and cheered them enthusiastically and were extremely satisfied with the overall event. However, they felt that the refreshments or water bottles could have been directly handed over to the participants rather than keeping it on the tables (Mid Devon Gazette 2014). Other participants commented that it would be better to make the timing of event clear, so that the participants can come early or warm up. Thus, the overall analysis of survey results clearly demonstrates that the event was highly successful in satisfying each of the public, volunteer, and participant. Each of them responded they would love to attend the event next time. However, there seems to be some loop holes that must be adequately addressed and resolved by the event managers or executives, so that there is no scope of faults or inadequate conduct. The crowd added to the attraction and charm of event, thus effective advertising and promotional activities must be conducted prior to the nest event (LEP 2014). The event can also be refined through changing the timing as many of the participants of survey complained about it. Observations The observation of the overall event was conducted consistently so as to gain the key success factors and loopholes in the management or operational practices. Considering the health and safety of people, there were no big issues regarding the same as there was first aid bikes and ambulance present closer to the track. The track was also smooth enough and there were tracks for the wheel chair users. The police security also highly contributed to the safety of people. However, the key problem identified was that in the communication in between volunteers and other staff (Hull Daily Mail 2014). The problem occurred due to the inadequate weather and strong winds. The radios must have been exchanged with modern equipment as when a runner fell badly, the first aider took 10 minutes to the spot but the runner had already left and was clearly delayed and slow. The design and structure of overall event was great and the chosen track was perfect. The stalls, stage and the services all were on the top of promenade, thus being at the centre of all crowd, the public was able to easily join in. the crowd added to the success of event as they were enthusiastic and cheered the participants really well. The event continued without any hassle due to adequate crowd control measures. However, the problem was a little far for the volunteers as they had to walk too much and since many of them were not local, they were not well aware of the place (Hines 2014). It was also found that the map provided to volunteers were complicated as the signs were not clearly marked for each standing point. Thus, the management of volunteers was bit disorganized although it did not have any major negative impact on the event as with time the people started getting familiar with place. The event also lacked in the utilization of IT as the only IT tools used were emails to keep everyone updated regarding the timing and location of event. The marketing materials utilized for the promotion and advertising of event were quite successful (Anderson 2014). The t-shirts with logo of cancer for life emerged as a massive brand as people were well aware of the fact that the event occurs every year. The utilization of website, advertisements on social media sites such as FB and Twitter also paid well. The practices of staff motivation were brilliant, as everyone seemed to be friendly. Although the weather was extremely windy and it was difficult to stand at locations because of the cold, the motivational words from organisers helped in preventing the occurrence of negative thoughts. The overall atmosphere was lively, great, fun and very vibrant. With Blackpool lights on and everything happening at the centre of Blackpool, no one missed what was happening. There were around 10,000 runners and it made the event much more successful (Adkins 2014). However, there should have been more access for the crowd as there was hardly any way to the track but they all were at the end. The crowd seemed to be confused regarding the timing and the volunteers were not told either. The crowd seemed to enjoy it and the cheering, music, stage and presenter was brilliant and made the event stand out even more than the last event. Conclusion The overall event of Blackpool Cancer for Life Event 2014 seemed to be highly appreciated by the crowd as most of the participants of survey responded that they will come back for the event. The key success factors for the event were its structure, safety, police security, first aid bikes, presence of ambulance, and smooth course. On the contrary, inadequate weather, inappropriate communication gadgets, ineffective awareness, and lack of strong advertising and promotional campaigns appeared to be the loopholes of event. However, these loopholes can be easily prevented in the next event. Overall, the event was highly successful in attracting the people from different age groups and thus added to the success of event. The managers and executives could have conducted effective advertising and promotional activities to attract more people.