Personal use of ethics Essay Example | Topics and Well Written Essays - 750 words

Individual utilization of morals - Essay Example Morals can be further sub-separated in numerous structures, for example, deontological morals, utilitarian morals, characteristic law morals, Divine order morals, implicit understanding morals, care morals, goodness morals, and regularizing morals. Every one of these morals have an unmistakable and crucial job in close to home existence of a person, just as his/her expert duties (Mizzoni?, 2010). Deontological morals can be alluded to as profound quality, commitment or rule based morals. Deontology directs the virtues of an individual as a reaction to the standards and guidelines regardless of whether the person isn't being checked. It is something identified with self-restraint. Utilitarian morals incorporate all great and terrible consequences of a demonstration, which are delivered after consummation of a demonstration or sprung up at any phase during the demonstration. The demonstrations can be named ethically right or wrong just if the results are critical to such an extent that an individual wishes to see the specialist constrained, not only convinced and urged, to act in the favored way. Ethicalness morals is the standard occasions of our lives when we face every day life choices that include strife of qualities. It is worried about how individuals express and structure their character through their decisions and activities in ordinary circumstance. It considers the to be life as where a large portion of good life happens (Pojman?, 2005). Ideals morals in ordinary life Among the above characterized morals, goodness morals is the most well-known and significant of all morals as it has a task to carry out in varying social statuses. It frames the premise towards other significant methodologies; it is objective situated morals since we endeavor to live ethically so as to draw nearer to the flawlessness that God wants and ideal association with the God that anticipates us. Righteousness morals are generally alluded as Aristotelian excellence morals. These mo rals are teleological as the character estimations of an individual are connected with relations to other people. In our every day life and our association with the individuals around us, what makes the character picture is simply endless supply of the components. The principal factor is how much commitments one needs to him/herself, the family, the network or the world on the loose. These commitments get through the essential character qualities instigated in preparing and character improvement. The subsequent factor is by and large reasonable in existence with everybody, regardless of the way that this individual is known or obscure to you (Carr? furthermore, Steutel, 1999). Having accomplished a superior standard in ideals morals by a portion of the variables referenced over, the individual can impact all parts of his/her life, including the calling. An individual with solid character characteristics will be steadfast and persevering to the calling, in this way keeping a nature m ind his/her dealings and reaction to the encompassing individuals. Advocated conduct with everybody is of most extreme significant in our everyday life; regardless of whether we are at home with families, out in advertise for shopping or in clinic for clinical consideration (Shaw?, 1993). In today’s time, everybody around us is by all accounts a lot of narcissistic, occupied in the individual life, focused on the personal business; in this way disregarding or not giving the due consideration to the privileges of individuals around. We watch the equivalent while we are going out and about, cooperating with individuals in business sectors, in the lanes and even in the emergency clinics. We just spotlight on prerequisites and necessities explicit to us without understanding that somebody might be in more misery or has got more aggravations. Regardless of whether we stretch out assistance to somebody, s/he feels

History Project Essay Example | Topics and Well Written Essays - 2750 words

History Project - Essay Example Predominance of Childhood Obesity Childhood stoutness and overweight youngsters are described as â€Å"epidemic in North America and internationaly† (Deckelbaum and Williams, 2001, p. 239). The quantity of youngsters fulfilling the meaning of corpulence has expanded fundamentally. For instance, data discharged from the Centers for Disease Control and Prevention (CDC) shows that in the US the quantity of fat youngsters between ages 6 and 19 expanded from 4-5% in 1963-1970 to 15% in 1999-2000 (Korbonits, 2008). The CDC (2012) reports that 17% or 12.5 million kids and teenagers in the US between the ages of 2 and 19 â€Å"are obese.† likewise, the quantities of fat youngsters in the US have significantly increased since the 1980s. Youth weight contrasts as per ethnic and racial qualifications. For instance, somewhere in the range of 2007 and 2008, information proposed that Hispanic young men between the ages of 2 and 19 were far â€Å"more prone to be hefty than non-Hispa nic white boys† (CDC, 2012). The information from 2007-2008 likewise uncovered that non-Hispanic dark young ladies were unquestionably more â€Å"likely to be corpulent than non-Hispanic white girls† (CDC, 2012). The CDC (n.d.) reports that 1 out of each 3 youngsters are either large or overweight before achieving the age of 5. In addition, around 3.7 million or 1/3 of kids from low-salary families between ages 2 and 4 were either overweight or fat (CDC, n.d.). Youth stoutness is accordingly predominant in the US. Reasons for Childhood Obesity According to Korbonits (2008) just somewhere in the range of 1 and 2 percent of stout youngsters endure heftiness because of an acquired quality. Heftiness in kids generally is all the more every now and again brought about by various cooperating factors that â€Å"increase food admission and reduction vitality expenditure† (Korbonits, 2008, p. 88). As indicated by Davies, Fitzgerald and Mousouli (2007) both the quality and accessibility of food has changed during the last pieces of the 1900s to the degree that both food and beverages are thick in vitality, come in bigger parts, promoting of food and beverages has escalated and an ever increasing number of Americans destroy from the home. Urbanization has likewise added to the affinity for heftiness as strolling in urban areas has been portrayed as excessively perilous (Davies, et. al., 2007). Individuals by and large have gotten progressively stationary and thus there is far less physical exercises (Davies, et. al., 2007). Eating and way of life examples and decisions are regularly social in nature in that kids frequently acquire these decisions and examples inside their particular societies. Along these lines social impacts help to clarify why Hispanic young men and dark young ladies in the US are bound to be stout (Sundquist and Winkleby, 2000). Taking care of propensities starting in outset is supposed to be connected to the advancement of youth c orpulence (Harder, Bergmann, Kallischnigg and Plagemann, 2005). An absence of physical movement is likewise connected to youth corpulence. Truth be told, Kimm, Glynn, Obarzaneck and Kriska (2005) reports that people who are increasingly dynamic are progressively ready to viably control their weight by creating muscles and diminishing muscle to fat ratio. Notwithstanding, youngsters today will in general decrease the degree of physical exercises when they start secondary school (Kimm et. al., 2005). Wellbeing Risk Factors Attributed to Obesity Roberts and Hoffman (2008) revealed that youth heftiness is related with scholastic underperformance, mental and physical medical issues

Trans Altlantic Slave Trade free essay sample

The Trans-Atlantic slave exchange was a transportation of generally West African slaves over a time of three and a half hundreds of years over the Atlantic Ocean to America and Europe. An expected twelve million men, ladies, and kids were taken from their African countries to be utilized as slaves. The slave exchange gave an extraordinary work power to America and both the United States and African economies turned out to be progressively dependent on European exchange as America was getting free work and Africa was auctioning off their own kin for goods.This brought about a tremendous effect on the supreme and affordable development of the two areas. The financial, social and political effect on the Indigenous individuals was broad as they were routinely constrained into awful everyday environments with extended periods of time on manor cultivates and were regularly beaten and starved. England assumed the greatest job in the battle for the cancelation Of the slave exchange with the most eminent abolitionist being William Wildflower. We will compose a custom exposition test on Trans Altlantic Slave Trade or then again any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The Act for the annulment in Europe of the slave exchange was marked into law by King George the third on the 25th March 1807.This was uniquely to stop the real assaulting not to stop the utilization of slaves; bondage was canceled 27 years after the fact. America took an any longer time, possibly abrogating subjugation when the thirteenth amendment to the constitution was confirmed in the year 1865. Albeit deceptive and dangerous the slave exchange was advantageous for the financial development in both Africa and America and was truly productive. Estate proprietors increased huge benefits by using unpaid work and became affluent, especially from cotton in South Alabama, the Caribbean and South America. This recently discovered riches was because of European organizations paying huge entireties Of none for the quality cotton. The slave transport proprietors likewise profited fundamentally because of the slave exchange, most creation gigantic benefits. The slaves were dealt with overwhelmingly as load and as not as much as individuals. They were much of the time kept in claustrophobic conditions with little nourishment and extreme disciplines. When in America, the slaves could be sold for around $800, in todays money it is identical to roughly $10,000.Africa was not at its ideal capacity during the 300 years of the slave exchange. There were significant hardships of work, with them being awkwardly left tit the older and infirmed. The exchange was expelling people from their general public. These lost numbers were expected to imitate and repopulate Africa, and their work was required for their vouch networks. Their work was of more popularity in their country, yet had to work for the advantages of different nations that abused and disregarded them.Those with high insight, gifts and capacities were taken and utilized as slaves, not using their individual abilities. While the remainder of the world was moving towards the mechanical upheaval, Africa was as a rule abandoned, major lacking n information about cleanliness and medication. Their life expectancies were still short and were kicking the bucket at a youthful age while losing a large number of slaves which influenced the birth rate. The advantages for Africa were that transport proprietors would regularly exchange merchandise for the slaves, these products notwithstanding; material, tobacco, espresso and alcohol. The financial effects brought about by the slave exchange on the indigenous individuals were they were not winning a living through the work, which brought about a nonexistent pay to help their families, at last making an unfortunate economy in the African culture. The nonattendance of the bourse brought about a diminishing workforce in African culture, in this way easing back any future financial development. Socially, the indigenous were not acknowledged as citizenry, rather observed as insignificant to the texture of the social classes.They were not seen as individuals and were not spoken with in a conscious or refined way. This brought about issues for the indigenous in social correspondence. The slave exchange affected on the indigenous politically as they were not permitted a commitment to the political choices made with respect to the general public in which they worked. Estate proprietors in the slave exchange assumed a significant job as they utilized captives to develop the ir yields while increasing enormous benefits using unpaid laborers. They were the culprits of the slave exchange and made their living by mishandling the work done by the slaves. The manors developed in fame when moved from Europe to America, especially sugar, tobacco and cotton. The ascent of cotton started towards the finish of subjugation in the 1 asss in the Elicited States. It was an enormous accomplishment with more than 60 percent of the 4,000,000 slaves across America working in cotton from dawn to nightfall. The slaves that worked in fields were generally marked as incompetent with talented slaves being liable for the essential decisions, for example, when stick was prepared for harvest.When tobacco leaves were directly for picking or when sugar juices were prepared were among the obligations of gifted slaves. Manor proprietors were notable for regarding their slaves as property or wares. Guests to manor crops were frequently stunned at how often they saw the physical maltreatment Of the slaves which was regularly a whipping in the event that they didn't play out their business to an elevated requirement. Female slaves were likewise known to have been habitually explicitly manhandled. Savagery was the best risk and the establishment to a fruitful framework. It was a long troublesome street to abolition.Some nations had a serene change while others went to common wars. The battle for nullification of the slave exchange England was a development driven by a little board of trustees in Britain made in 1 787 including William Dilly, George Harrison, Samuel Hoarer, John Lloyd, Joseph Woods, and Thomas Clarion. As none of board of trustees were individuals from parliament they immediately liaised they required somebody of more grounded impact if they somehow managed to make gains toward their point of nullification. It was this reason enlivened the notable William Wildflower to start his excursion in the battle for opportunity of slaves.It was his parliamentary gifts that made it conceivable to start and strike the greatest assault on the trans-Atlantic slave exchange. This discourse and numerous others are to thank for the forbidding of the British slave exchange 1807 which in the long run lead to the demonstration that liberated Britains slave that went in 1833, after 27 years. Shockingly America didn't have such a smooth ruinations into cancelation. Their area split down the middle and a common war started. The Confederates were for bondage against the Union run by Abraham Lincoln who was against slavery.The association in the end won the right around multi year war bringing about the demise of roughly 620,000 individuals. Subjection authoritatively finished in the United States when the 1 thirteenth amendment to the constitution was concurred in the year 1865, 32 years after the British. Source An is notable abolitionist William Wildernesss discourse on abolitionist bondage, conveyed on Tuesday the twelfth of May in the House of Commons 1789. At the point when the discourse was turned, Parliaments had no official record of addresses given dissimilar to now. Addresses from the eighteenth century were recorded by papers which could without much of a stretch change the discourse to serve their own political agenda.In saying this, Wildernesss discourse is as yet viewed as an enlightening essential source. The discourse was composed to persuade the House of Commons, to cast a ballot for abrogating the Atlantic slave exchange and to change and impact the result of the slaves. This discourse was the start of the development and was fruitful in affecting its crowd. When ever I had shown up hitherto n my examination of the slave exchange, I admit to you sir, so colossal so ghastly, so irremediable did its mischievousness create the impression that my own brain was totally compensated for the abolition.A exchange established in wrongdoing, and carried on as this seemed to be, must be annulled, left the approach alone what it may, let the results be what they would, I from this time, discovered that could never rest till I have affected its cancelation. This was the end proclamation in Wildernesss discourse and was a solid completion however the tone is extremely emotive by utilizing the words awful, evildoing and l will never rest until This isn't normally the way government officials take while conveying addresses yet the emotive language may have made the crowd understand the force of the difficult subjection was making to the indigenous peoples.Source A future valuable to history specialists considering the Trans-Atlantic slave exchange for bo th the battle for nullification and the financial, social and political effect on indigenous people groups. It would furnish them with essential source data and proof and would be an incredible knowledge into the techniques for nullification strategies utilized. To help comprehend the nullification of the trans-Atlantic slave exchange, a fly of the official emblem of the British abolitionist servitude society gives a useful understanding. It is an auxiliary source as it is just a duplicate and was initially given in 1 795 by Josiah Westwood, a nonconformist.The jaspers emblem included a tolling slave with the words composed underneath expressing Am I not a man and a sibling? This depended on a unique structure of the seal for the advisory group of the counter slave exchange development, set up prior that year by Thomas Clarion. Westwood sent the emblems to Benjamin Franklin where they turned into an extremely fruitful with affecting the crowd with ladies wearing them in the hair, as pieces of jewelry and some had them as adornments. The rationale behind the source was to bring issues to li ght of slave abolitionists and to energize the number of inhabitants in Britain to get behind them and bolster their mission.Source B would be helpful to history specialists reading the battle for annulment of the slave exchange as it

Delay Research Methodology Example

Research Methodology Example Problem The number of construction projects facing delays is on the increase. In turn, the delays cause the original time and expenses to increase as the owners, consultants and many state projects face delays and thus break the shedule and spend more than it had been initially estimated. Delays are more frequent in the traditional kind of contracts where the lowest bidder is given the contract. Delay to the proprietor means losing revenue as there are no production resources availed, higher labour costs and even increment of the price of materials because of inflation. Thus, delaying of projects either by their extension or acceleration leads to extra costs being incurred. H: Project delays lead to project spending increase.

Understanding Legacy Status for College Admissions

A college applicant is said to have legacy status at a college if a member of the applicants immediate family attends or attended the college. In other words, if your parents or a sibling attend or attended a college, you would be a legacy applicant for that college. Why Do Colleges Care About Legacy Status? The use of legacy status in college admissions is a controversial practice, but it is also widespread. Colleges have a couple reasons for giving preference to legacy applicants, both having to do with loyalty to the school: Future Donors. When a family includes more than one person who attended a college, its likely that the family has greater-than-average loyalty to the school. These positive feelings often turn into alumni donations down the road. This financial side of legacy status shouldnt be underestimated. University relations offices fundraise millions of dollars a year, and their task is easiest when alumni families are highly committed to the schoolYield. When a college extends an offer of admission, it wants the student to accept that offer. The rate at which this happens is called the yield. A high yield means a college is getting the students that it wants, and that will help the school meet its enrollment goals. A legacy applicant is coming from a family that is already familiar with the college, and that family familiarity and loyalty typically leads to a better yield than the general applicant pool.   Do Grandparents, Uncles, Aunts, or Cousins Make Me a Legacy? In general, colleges and universities are most interested in seeing if your immediate family members attended. For example, if you are using The Common Application, the Family section of the application will ask you about the education level of your parents and siblings. If you indicate that your parents or siblings attended college, youll be asked to identify the schools. This is the information that colleges will use to identify your legacy status. The Common Application and most other college applications do not have a space for indicating if more distant family members attended, although some will ask a rather open question such as Have any of your family members attended our college? With a question such as this, it wont hurt to list a cousin or aunt, but dont get carried away. If you start listing third cousins twice removed, youre going to look both silly and desperate. And the reality is that in most cases cousins and uncles really arent going to play a role in an admissions decision (with the possible exception of a relative who is a million dollar donor, although you wont find colleges admitting the crass financial reality of some admission decisions). Some Common Mistakes Related to Legacy Status Assuming your legacy status will make up for a mediocre academic record. Highly selective colleges and universities are not going to admit students, legacy or not, who are unlikely to succeed. Legacy status tends to come into play when the admissions officers are comparing two equally qualified applicants. In such cases, the legacy applicant will often have a slight advantage. At the same time, this doesnt mean that colleges wont lower the admissions bar slightly for legacy applicants from prominent and/or extremely wealthy families (but youll rarely hear colleges admit this fact).Using the Additional Information section of The Common Application to draw attention to a distant connection to the college. You should use the additional information section of The Common Application to share important information not reflected in your application. You could use this section to explain extenuating circumstances that may have affected your grades, or you might use it to present interesting information about yourself that doesnt fit elsewhere on the application. This type of information can enrich your application. The fact that your great-great-grandfather attended Prestigious University is rather trivial and is an ineffective use of your opportunity to provide additional information.Making monetary threats. For good or bad, a colleges interest in your legacy status is often related to money. Family loyalty to an institution often leads to alumni donations. That said, it will reflect badly upon you if you suggest that your parents donations to the college might end if you arent admitted. The college already considers such possibilities when making admissions decisions, and raising the issue yourself will seem crass.Placing too much emphasis on your legacy status.  Aside from listing family members who attended the college or university, you dont need to draw more attention to your legacy status. The focus of your application needs to be you and your merits, not thos e of a parent or sibling. If you try to overplay your hand, you may look either desperate or obnoxious.   These Factors Matter More Than Your Legacy Status College applicants are often frustrated by the advantage that legacy applicants have. This is for good reason. An applicant has no control over legacy status, and legacy status says nothing about the quality of the applicant. But be sure to keep legacy status in perspective. Some colleges dont consider legacy status at all, and for those that do consider it, legacy status is just a small factor in admissions decisions, Colleges know that being a legacy is a rather dubious distinction. When a college has holistic admissions, several pieces of the application will almost always carry more weight than legacy status. First of all, you will need to have a strong academic record. Without it, you are unlikely to be admitted whether youre a legacy or not. Along similar lines, SAT scores and ACT scores are going to be important unless a school is test-optional. Selective colleges will also be looking for meaningful extracurricular involvement, positive letters of recommendation, and a winning application essay. Legacy status wont compensate for weaknesses in any of these areas.

Bridging Accounting Assignment - 2562 Words

a) Describe the general purpose of the statement of comprehensive income. In addition, explain the terms income and expenses as defined by the Conceptual Framework for Financial Reporting. According to the International Financial Reporting Standards (IFRS), an entity shall present its total comprehensive income for an accounting period either in a single statement or two statements where all items of income and expenses recognized in that particular accounting period are presented however for two statements, except those that are recognized in total comprehensive income outside of profit or loss as permitted or required by IFRS. The comprehensive income is a statement inclusive of all income and expenses including revenue, profit and†¦show more content†¦Losses include those resulting from natural disasters and disposal of non-current assets. Losses by definition also include unrealized losses like effects of increases in the exchange rate for a foreign currency from borrowings so when losses are recognized in the income statements, they would usually be displayed distinctly as knowledge of them is useful for purpose of making economic decisions and are often reported net of related income. b) Describe the general purpose of the statement of financial position. In addition, explain the terms asset, liability and equity as defined by the Conceptual Framework for Financial Reporting. The financial position is a statement also known as balance sheet, presents the financial position of an entity at a given date – i.e. as at 31st December 2013. It consists of three main components; assets, liabilities and equity. The statement of financial position facilitates users in assessing the financial soundness of an entity in terms of liquidity risk, financial risk, credit risk and business risk. When used in conjunction with other financial statements of the entity and its competitors, balance sheet may help to identify relationships and trends which are indicative of potential problems or areas for further improvements. Analysis of the statement of financial position couldShow MoreRelatedImpact of Multiple Generations in the Workplace Essay examples1183 Words   |  5 Pagesa lifestyle with unique ideas, values and language. Accounting Today recognizes the importance of generations and their effects on the business field in its articles â€Å"Bridging the Gapsâ⠂¬  by Jennifer Wilson and â€Å"The Way We Learn Now,† by Jennifer Wilson and Krista Remer. This memo summarizes these articles, analyzes the formation of each generation, and identifies advantages of a multigenerational workplace. Summaries of the Articles â€Å"Bridging the Gaps† began by defining the three most dominantRead MoreFinance Theory and Financial Strategy1195 Words   |  5 Pagesin comparison for each project. 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Corporate Accounting and Reporting and Regulations

Question: Discuss about the Corporate Accounting and Reporting and Regulations. Answer: Introduction The following part of the study aims to present the concept on impairment test based on the regulations of international accounting standards. The discussion incorporates the purpose of impairment test according to the principles and requirements of Australian Accounting Standards Board (AASB) 136 on impairment of assets. Besides, the discussion includes the impact of goodwill on impairment test along with the relevant steps required to be followed in applying impairment test. Purpose of impairment test In order to conduct business operations, organizations need to own several assets that are classified as per various sections for profit making as well as non- profit making companies. Assets are classified as current assets, fixed assets and intangible assets that are recognized in the statement of financial position during the accounting year. Current assets are the assets used by the companies for conducting day-to-day business operations and pay off the current obligations (Christensen and Nikolaev 2013). Besides, fixed assets are the assets used as business resources held for more than one year while intangible assets are long- term assets that are either self-generated or purchased. Accordingly, with due course of time, the real value of the fixed assets as well as certain intangible assets like goodwill, begins to decline. Such reduction of asset value is tested for impairment as for measuring the asset valuation worth recognizing in the statement of financial position (Gros a nd Koch 2015). Therefore, impairment is an accounting regulation that measures the reduction in the assets value for fixed assets and goodwill by comparing the actual value and carrying value. However, it is essential to consider the impairment test for measuring the reduction value as per the value in use, future cash benefits or expected recoverable amount. Impairment of assets depends on various internal and external resources along with the determination of recoverable amount and future cash benefits (Lange, Fornaro and Buttermilch 2014). Certain external sources that provide information to impair the assets involve decline in market value of assets, adverse effect on the company or increase in the market interest rates. In addition, internal source of information for availability of asset obsolescence asset along with the significant changes in the organization requires impairment test (Aasb.gov.au. 2017). Hence, the primary purpose of impairment test is to measure the reduction in actual valu e of long- term assets. Impact of goodwill on impairment test Impairment test is conducted on long- term fixed assets that includes goodwill as intangible asset for the financial year. Impairment on goodwill is a measure recognized by the companies when the carrying amount of goodwill exceeds the fair value. The value of goodwill is recognized in the financial statements while acquiring assets and liabilities along with the payment of purchase price if the value exceeds identifiable value. Accordingly, impairment of goodwill arises if the ability of companys assets is lower than the book value in terms of generating cash flows or profitability (Chen, Krishnan and Sami 2014). Goodwill is an intangible asset acquired by the companies with respect to brand valuation or acquiring assets and liabilities in connection with merger or acquisitions. Accordingly, if the value of goodwill exists in the companys balance sheet then the management is required to assess the qualitative factors for the purpose of impairment test. Existence of goodwill affects the impairment test for identification of potential impairment factors in terms of cash flow benefits and value in use. Impairment test involves comparison of fair value and carrying amount, which is difficult to identify for goodwill since it is an intangible asset and varies as per the organizational values. For instance, if the fair value of reporting unit exceeds the carrying amount, then the goodwill cannot be impaired (Izzo, Luciani and Sartori 2013). Further, existence of goodwill affects the impairment test with respect to other fixed assets that considers market interest rates, market value as well as market rate of return implement the factors appropriately. Steps to be followed for application of impairment test For conducting impairment test, Longreach Ltd requires to follow several steps that are stated as under: Step 1: First step to be followed for application of impairment test is to identify the assets or cash- generating unit that should be impaired. It includes the identification and planning to measure the recoverable amount to measure the impairment loss. Step 2: Next step is to identify and analyze the internal sources for considering impairment of assets by evaluating the evidences on obsolescence or damage with respect to the long- term assets. Step 3: After analyzing the internal sources, external sources are required to be analyzed to assess the actual market value as well as the significant changes to evaluate the adverse effect (Knauer and Whrmann 2016). Step 4: On considering the required analysis on impairment test, recoverable amount is to be computed by deducting cost from the fair market value of the impaired assets. Step 5: Recoverable amount is then compared by the value of carrying amount to assess lower of actual value and recoverable value. Thereafter, the amount of impairment loss is allocated on goodwill first and the balance amount on other assets based on the percentage of actual values (Badia et al. 2017). Conclusion Impairment test is essential for the companies to determine the actual worth of the assets employed to run the business activities. The assets are recognized in the financial statements of the company to determine the financial position of the company during the financial year. Hence, it is important to determine the correct value after considering the impairment test as per the regulations of international accounting standards and AASB 136. The study covers the impact of goodwill on impairment test with respect to assessment of impairment factors and identification of potential impaired assets. Further, basic steps required to be followed for applying impairment test has been identified that the management of Longreach Ltd can consider during the financial year. The identified steps include identification of impaired assets, analysis of internal and external sources and determination of recoverable amount that requires to be compared to the carrying value to measure the impairment l oss. In the Books of Crossbow Ltd. Journal Entry as at 30 June 2015 Dr. Cr. Date Particulars Amount Amount ($) ($) 30/06/2015 Impairment Loss A/c. Dr. 2,60,000.00 To Goodwill A/c. 40,000.00 To Land A/c. 26,829.27 To Inventory Products A/c. 24,146.34 To Brand "Crossbow Shoes" A/c. 21,463.41 To Shoe Factory A/c. 93,902.44 To Machinery A/c. 53,658.54 (Being the net identifiable assets liabilities and goodwill impaired based on the recoverable amount) Income Statement A/c. Dr. 2,60,000.00 To Impairment Loss A/c. 2,60,000.00 (Being the amount of impairment loss on machinery transferred to Income Statement ) Working Note: Calculation of Impairment Loss Particulars Amount Carrying Amount of Assets (A) $16,80,000 Recoverable Amount of Assets (B) $14,20,000 Fair Value of Assets ( C) $1,71,000 Real Value of Assets (D = Higher of B C) $14,20,000 Impairment Loss (A-D) $2,60,000 Less : Goodwill on Acquisition $40,000 Impairment Loss Less Goodwill $2,20,000 Allocation of Impairment Loss Particulars Amount Percentage Impairment allocation Land 2,00,000.00 12% 26,829.27 Inventory Products 1,80,000.00 11% 24,146.34 Brand "Crossbow Shoe" 1,60,000.00 10% 21,463.41 Shoe Factory 7,00,000.00 43% 93,902.44 Machinery for Manufacturing Shoes 4,00,000.00 24% 53,658.54 TOTAL 16,40,000.00 100% 2,20,000.00 Reference List Aasb.gov.au., 2017. Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au/ [Accessed 12 Jan. 2017]. 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