Drugs And Illegal Possession And Trafficking - 1409 Words

Believe it or not, drugs have been around for thousands of years. In the medical field, drugs are any type of medicine (or other substance), which has a physiological effect when it is ingested or otherwise introduced into the body. Drugs can produce both harmful and beneficial effects once it is consumed and, â€Å"decisions about when and how to use them therapeutically always involve balancing the benefits and risks† (Rang 1). Drugs approved for human use are available through prescription and can be bought freely over the counter. Although drugs have been a great addition to the medical world and its advancement, not all drugs are legal and available for use. The government bans certain drugs, and illegal possession and trafficking of these†¦show more content†¦It is an undeniable fact that illegal drugs do more harm than good, which is why Canada should not legalize all drugs. The growing concern in many communities is how easily accessible drugs are to young adu lts. At least 42% of Ontario students surveyed have admitted to consuming an illegal substance in the past year. According to Statistics Canada, 60% of illicit drug users in the country are between 15 and 24 years of age. This is a rising crisis due to the health problems that teens who abuse drugs are likely to develop such as, â€Å"short-term memory loss, anxiety, depression†¦ cardiovascular disease, liver damage and etc.† (Canadian Centre for Addictions). Furthermore, â€Å"Science Daily found that youth in 12th grade who use marijuana, alcohol, and other illegal drugs are likely to drop out of school† (Canadian Centre for Addictions). Supporters of the legalization of drugs â€Å"believe that making drugs legal will take away the temptation to use them† (Novelguide). However, this idea would be far from logical as, if drugs were to be legalized then they will be ultimately available for young adults to consume. This poses a threat to the health of the young drug consumers, as these substances are likely to be mass-produced and mixed with other substances that are not exactly safe for consumption. For example, Levamisole, an anthelmintic drug used to kill parasitic worms â€Å"became a very popular cocaine adulterant† (Gosmer 1). The drug was previously used to deworm both humans

The Bridge Of Opportunity Initiative - 778 Words

The Bridges To Opportunity Initiative helps to ready low-income under skilled adult students to obtain workforce ready skills using community and technical colleges to achieve jobs with livable wages and an educational pathway. (Ford Foundation, n.d.) The Integrated Basic Education and Skills Training (I-Best) works with adults who want to better their basic educational skills to increase employability and the opportunity to advance their education in a career development direction. (Wachen, Jenkins, Noy, 2011) There are seventy-five million Americans that do not have higher than a high school education or who have not attain a General Education Development/General Equivalent Diploma (GED) the I-Best programs focus on increasing education, gaining employable skills to earn a livable wages. (Wachen, Jenkins, Noy, 2011) Breaking Through Initiative goal â€Å"is to promote the development of practices and policies that connect low-skilled adults (with reading and math skills testing below the eighth-grade level) with postsecondary occupational or technical education†. (Jobs for the Future, 2010) Completion by Design is a college success program funded by the Gates Foundation to implement student support systems to increase completion and graduation rates for low-income students. (Gates Foundation, n.d.) The states of Florida, North Carolina and Ohio have used this initiative to increase access, contain cost, and create programs. (Completion by Design, 2015) This pathwayShow MoreRelatedWhat I m Highly Motivated And Goal Driven Professional With 8 + Years Of Expertise818 Words   |  4 Pagesestimation, Investment decision making, and multi-unit operations in both Energy and Infrastructure Industries. I have in-depth experience in project execution, managing operations, safety and training within the energy industries. I have led initiatives to deliver the improved cost, quality and foster long-term relationship with vendors. I have expertise in setting up lean processes and eliminating waste. I’m a creative communicator; able to establish rapport with individual and groups at all organizationalRead MoreThe Initiative Of The Pathways Programs Essay874 Words   |  4 Pagescentury jobs is the initiative of the Pathways Programs. These programs help high school students and adults achieve a college bond high school diploma or equivalent, and technical skills that will build a career and educational pathway. Community Colleges work toward â€Å"partnerships with K-12 schools, the private sector, government, higher education and other entities as one cohesive unit,† preparing students for industry occupations and furthering educational opportunities for students. (CampbellRead MoreThe Levels Of Field Managers And Their Relationships797 Words   |  4 Pagespresidents and divisional heads. Although this might vary from industry to industry this is believed to be true for the majority of large corporations. Store managers: are responsible for both the day to-day operations and the execution of new initiatives. Although they have several goals based on their performance such as financial targets, customer service benchmarks and employee satisfaction goals but they have little say in setting those goals. On the other hand they do control the inventoryRead MoreEducation Programs Should Be Better Than Those Who Are Not Met With The Same Opportunity799 Words   |  4 Pagesaccelerated learning opportunities that allow students to achieve college placement, bridge programs can help to correct this trend in higher education (Wallington, Petlow, Mitchell, 2011). Programs should be realistic about their goals because the argument is made that significant progress in academic support is difficult to achieve in only a few months (Kezar, 2000). Studies show that students in retention programs perform better than those who are not met with the same opportunity (Kezar, 2000).Read More6.0Industry Trends And Agency Issues. 6.1 Industry Trends.1721 Words   |  7 Pageschange.† As indicated by the preceding Market Analysis (section 4.0), moving forward, TBT is expected to continue to operate in this highly uncertain business and transportation environment. Therefore, TBT must position itself to approach new opportunities, risks, and challenges with an ability to change how the department does business and abandons non-core. 6.1.1 A Time of Scarcity Paramount to TBT’s mission of providing safe and efficient facilities, is understanding current fiscal uncertainlyRead MoreSupply Chain Sector : Tb T s Mission Of Providing Safe And Efficient Facilities1724 Words   |  7 Pageschange.† As indicated by the preceding Market Analysis (section 4.0), moving forward, TBT is expected to continue to operate in this highly uncertain business and transportation environment. Therefore, TBT must position itself to approach new opportunities, risks, and challenges with an ability to change how the department does business and abandons non-core. 6.1.1 A Time of Scarcity Paramount to TBT’s mission of providing safe and efficient facilities, is understanding current fiscal uncertainlyRead MoreManaging Transitions By William Bridges1357 Words   |  6 PagesManaging Transitions by William Bridges is a well-constructed text written on Change Management. Bridges begins by expressing the clear distinction between â€Å"change† and â€Å"transition†, with emphasis that change and transition are not interchangeable terms, but completely separate processes. The concept, according to Bridges, is simple: Change is situational, it is eventful, visible and tangible. Change is the WHAT. Transition is psychological, a continuous process that happens over a span of timeRead MoreThe Defense Cooperation Of The United States1709 Words   |  7 Pageswhich enabled Croatian Armed Forces to upgrade and develop some new and needed capabilities. Throughout the years, defense cooperation continued to grow, including, but not limiting to: State Partne rship Program with Minnesota NG, different SSA initiatives and programs, support during the deployment of Croatian forces in Afghanistan, and numerous humanitarian projects and support to local communities in Croatia. This paper will provide a brief overview of the current U.S. Security Sector AssistanceRead MoreChallenges Of Accountable Care Organizations1419 Words   |  6 PagesThe Affordable Care Act has created many opportunities for states to design and test new models of care delivery and payment that improve health outcomes, improve patients’ experience, and reduce health care spending (The Promise of Care Coordination: Transforming Health Care Delivery, 2013). These new models include accountable care organizations (ACOs) and Medicaid health homes. A main component of these new models is care coordination programs, which allow providers and other members of theRead MoreSample Essay1639 Words   |  7 Pages12.15.2017 To My Fellow Constituents; I wanted to personally thank you for your support and expertise during the 2017-2018 legislative session. I have relished participating in the town halls, interviews and volunteering opportunities that have presented themselves across the great state of Vermont. As you all know Congress has officially finished our congressional which is not the first, but the 2nd session I have participated in. Like my first session, I yet again voted 100% being loyal to

Impairment of Assets Test Free Essays

IMPAIRMENT OF ASSETS The following information relates to Q1 Q2. Information about three assets are given below in the table: Aldo Balbo Casco Value in Use $150,000 $195,000 $105,000 Carrying Amount $90,000 $140,000 $112,000 Net Realizable Value $115,000 $136,000 $85,000 Q1. What are the recoverable amounts of each asset? (MCQ) Aldo ($115,000), Balbo ($136,000), Casco ($105,000) Aldo ($150,000), Balbo ($136,000), Casco ($105,000) Aldo ($150,000), Balbo ($195,000), Casco ($105,000) Aldo ($115,000), Balbo ($195,000), Casco ($85,000) (2 marks) Q2. We will write a custom essay sample on Impairment of Assets Test or any similar topic only for you Order Now What are the impairment losses on each asset? (MCQ) Aldo ($0), Balbo ($0), Casco ($0) Aldo ($0), Balbo ($55,000), Casco ($20,000) Aldo ($25,000), Balbo ($4,000), Casco ($7,000) Aldo ($0), Balbo ($0), Casco ($7,000) (2 marks) Q3. A cash-generating unit has the following assets: Building $600,000 Plant Machinery $100,000 Goodwill $80,000 Inventory $50,000 Total $830,000 One of the machines valued at $60,000 has been damaged will be scrapped. The total recoverable amount estimated from the cash-generating unit is $470,000. What is the recoverable amount of the current assets after the impairment loss? (MCQ) $21,800 $28,000 $33,500 $50,000 (2 marks) Q4. Which of the following correctly defines the recoverable amount of an asset? (MCQ) Current market value of the asset less cost of disposal Higher of fair value less cost of disposal value in use Higher of carrying amount fair value Lower of fair value less cost of disposal value in use (2 marks) Q5. An asset has a carrying amount of $55,000 at the year-end 31st March 2002. Its market value is $47,000 having a disposal cost of $3,500. A new asset will cost $85,000. The company expects that the asset will generate $19,000/per annum of cash flows for the next three years. The cost of capital is 8%. What is the impairment loss to be recognized for the year end 31st March 2002? (FIB) 3613151270000$ (2 marks) Q6. Which of the following are internal indications of impairment? (MRQ) A fall in the market value of a machine due to inflation The management realized that an asset is unable to produce up to its full capacity A report prepared by the warehouse manager than one of the lifter cars has crashed into a wall The development of intention of management to sell the asset during the next 3 months (2 marks) Q7. Moby had purchased an asset on 1st September 2009 at a cost of $500,000 with the useful life of ten years with no cash inflow at the time of disposal. The asset has been depreciated until 31st October 2014. At that date, an accident occurred which resulted in the damage of the asset an impairment test was taken by Moby. On 31st October 2014, the fair value of the asset was $160,000 with $10,000 cost of disposal. The expected future cash flows were $13,000/annum for the next five years. The cost of capital is at 10% with five-year annuity factor of 3.79. Calculate the impairment on 31st October 2014? (MCQ) $0 $100,000 $150,970 $200,730 (2 marks) Q8. A cash-generating unit has the following assets: Property Plant $400,000 Machinery $90,000 Goodwill $75,000 License $5,000 Net Assets (realizable value) $30,000 Total $600,000 The company had breached a government legislation which results in its cash-generating unit value to fall by $200,000. What will be the value of Property Plant after the impairment? (MCQ) $101,010 $126,316 $266,667 $298,990 (2 marks) Q9. Which of the following is not an indicator of impairment? (MCQ) The NRV of inventory has reduced due to damages but carrying amount is still lowered it’s than NRV Technological advancement has boomed in a country resulting old machinery becoming obsolete Cost of capital of a company has increased due to increase in market rates The carrying amount of an asset is higher of the recoverable amount of an asset (2 marks) Q10. A company purchased an asset on 1st January 2000 costing $2.1 million and its life was 10 years. On 31st December 2001, the fair value of the assets was $1.9 million. On 31st December 2002, the recoverable amount of the asset was $0.7 million. Calculate the impairment loss to be recorded in Profit ; Loss account on 31st December 2002? (FIB) 3613151270000$ (2 marks) Q11. A cash-generating unit has the following assets: Building $409,050 Plant ; Machinery $311,000 Goodwill $30,500 Inventory $156,000 Total $906,550 One of the plants valued at $91,000 was destroyed ; will be scrapped. The total recoverable amount estimated from the cash-generating unit is $760,050. What is the recoverable amount of the Plant ; Machinery after the impairment loss? (FIB) 3613151270000$ (2 marks) Q12. Meagan had purchased an asset on 1st September 2015 at a cost of $300,000 with the useful life of six years with no residual value. The asset has been depreciated until 31st October 2020. At that date, the asset was damaged ; an impairment test was taken by Moby. On 31st October 2020, the fair value of the asset was $60,000 with a $3,000 cost of disposal. The expected future cash flows were $16,000/annum for the next five years. The cost of capital is at 13% with five-year annuity factor of 3.52. Calculate the impairment on 31st October 2020? (MCQ) $0 $680 $6,320 $7,000 (2 marks) Q13. A delivery van has a carrying amount of $39,000 at the year-end 31st March 2016. Its market value is $33,800 having a disposal cost of $1,250. A new delivery van will cost $46,500. The company expects that the van can generate $9,300/per year of cash flows for the next four years. The cost of capital is 5%. What is the impairment loss to be recognized for the year end 31st March 2016? (MCQ) $1,250 $5,200 $6,022 $6,450 (2 marks) Q14. ZZZ Co purchased a non-current asset on 1st January 2012 costing $3.75 million and its life was eight years. On 31st December 2013, the fair value of the non-current asset was $2.95 million. On 31st December 2014, the recoverable amount of the asset was $1.25 million. Calculate the impairment loss to be recorded in Profit ; Loss account on 31st December 2014 nearest to $000? (FIB) 3613151270000$ 000 (2 marks) IMPAIRMENT OF ASSETS (ANSWERS) Q1. C Recoverable amount is the higher of the Value in Use or the Net Realizable Value. Q2. D Impairment loss = Carrying amount – Recoverable amount = Positive (+) Aldo = $90,000 – $150,000 = (-$60,000) No Impairment Balbo = $140,000 – $195,000 = (-$55,000) No Impairment Casco = $112,000 – $105,000 = $7,000 Impairment Q3. D Assets which have their own impairment criteria do not fall under the scope of IAS 32 -Impairment of asset. Inventory is impaired under IAS 2 – Inventory where it is calculated by choosing lower of Cost or Net Realizable Value. Q4. B Q5. $6,037 Value in Use Cash Flow Discount Factor 8% Present Value 19,000 0.926 $17,594 19,000 0.857 $16,283 19,000 0.794 $15,086 Total PV $48,963 Fair Value less Cost to sell = $47,000 – $3,500 = $43,500 Higher of = $48,963 Impairment Loss = $55,000 – $48,963 = $6,037 Q6. A fall in the market value of a machine due to inflation (External indication) The management realized that an asset is unable to produce up to its full capacity (Internal indication) A report prepared by the warehouse manager than one of the lifter cars has crashed into a wall (Internal indication) The development of intention of management to sell the asset during the next 3 months (Internal indication) Q7. B Carrying Amount = (500,000 Ãâ€" 5/10) = 250,000 Fair value less cost to sell = (160,000 – 10,000) = 150,000 Value in use = (13,000 Ãâ€" 3.79) = 49,270 Recoverable amount $150,000, Impairment = 250,000 – 150,000 = $100,000 Q8. D The total impairment of CGU is $200,000 The goodwill is impaired by $75,000 leaving $125,000 of impairment to be allocated to other assets. Total of assets to be impaired is $495,000 (400 + 90 +5) Impairment = (400,000 à · 495,000) Ãâ€" 125,000 = 101,010 Fair Value after impairment = 400,000 – 101,010 = $298,990 Q9. A The NRV of the inventory is still greater than its carrying amount so no impairment has arisen Q10. $742,500 Calculation done in $000 Cost = 2,100 Depreciation = (2,100 Ãâ€" 2/10) = 420 Carrying amount (After 2 years) = 2,100 – 420 = 1,680 Revaluation of asset = 1,680 1,900 = 220 in Revaluation Reserve New Cost = 1,900 Depreciation = (1,900 Ãâ€" 1/8) = 237.5 Carrying amount (After 1 year) = 1,900 – 237.5 = 1,662.5 Impairment loss = 1,662.5 – 700 = 962.5 Reversal of Revaluation Reserve = $220 Excess recorded in Profit ; Loss account = 962.5 – 220 = $742,500 Q11. $211,257 The total impairment of CGU is $146,500 The goodwill is impaired by $30,500 leaving $116,000 of impairment to be allocated to other assets. The plant is impaired by $91,000 leaving $25,000 of impairment Total of assets to be impaired is $629,050 (409,050 + 311,000 – 91,000) Impairment = (220,000 à · 629,050) Ãâ€" 25,000 = 8,743 Fair Value after impairment = 220,000 – 8,743 = $211,257 Q12. A Carrying Amount = (300,000 Ãâ€" 1/6) = 50,000 Fair value less cost to sell = (60,000 – 3,000) = 57,000 Value in use = (16,000 Ãâ€" 3.52) = 56,320 Recoverable amount $57,000, Impairment = 50,000 – 57,000 = $0 Q13. C Value in Use Cash Flow Annuity Factor 5% (1-4) Present Value 9,300 3.546 $32,978 Total PV $32,978 Fair Value less Cost to sell = $33,800 – $1,250 = $32,550 Higher of = $32,978 Impairment Loss = $39,000 – $32,978 = $6,022 Q14. $1,071,000 Calculation done in $000 Cost = 3,750 Depreciation = (3,750 Ãâ€" 2/8) = 937.5 Carrying amount (After 2 years) = 3,750 – 937.5 = 2,812.5 Revaluation of asset = 2,812.5 2,950 = 137.5 in Revaluation Reserve New Cost = 2,950 Depreciation = (2,950 Ãâ€" 1/6) = 491.67 Carrying amount (After 1 year) = 2,950 – 491.67 = 2,458.33 Impairment loss = 2,458.33 – 1,250 = 1,208.33 Reversal of Revaluation Reserve = $137.5 Excess recorded in Profit ; Loss account = 1,208.33 – 137.5 = $1,070,830 Nearest to $000 = $1,071,000 How to cite Impairment of Assets Test, Papers