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Depreciation, Impairment and Depletion
Depreciation, Impairment and Depletion
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Depreciation
Assets last for varied periods of time. Some have short lifespan while others including buildings, furniture, and cars among other assets may last for more than one year. However, they are all destined to lose value as a result of tear, wear, age, and decrease in their demand or obsolescence (Clyde, et al 2009). A fraction of the cost of such assets is utilized during every accounting period usually monthly, quarterly or annually. This fraction is usually reported in the income statement as depreciation expense. Basically, the annual transfer of a portion of the asset’s cost from balance sheet to the income statement constitutes the concept of depreciation in accounting. Depreciation generally involves the rational and systematic distribution of the cost of tangible assets over the life of the assets in question (Clyde, et al 2009). Depreciation methods may be based on either time or the activity. The former encompasses declining balance method, straight line method as well as sum-of-the-years’-digits method.
Straight line depreciation is calculated by subtracting residual value from the original cost of the asset followed by dividing the difference by the useful life of the asset i.e. Depreciation = (Cost – Residual value) / Useful life. For instance, company x purchased an equipment on 1st of July 2010 at a cost of 100000. This asset is estimated to have 3 year useful life. At the end of the 3rd year, the residual value will be $30,000. Company Y recognizes a monthly depreciation. Depreciation expenses for 2010 and 2011 may be calculated using straight line depreciation method as follows:
Depreciation for 2010 = (100000-30000) x 1/3 x 6/12 = $ 11667
Depreciation for 2011 = (100000-30000) x 1/3 x 12/12 = $23333
On the other hand, depreciation may be calculated using declining balance method where;
Depreciation = Book value x Depreciation rate
Book value = Cost – Accumulated depreciation
Depreciation rate for double declining balance method = Straight line depreciation rate x 200% and Depreciation rate for 150% declining balance method = Straight line depreciation rate x 150%
In the above mentioned scenario, Useful life is three years hence;
Straight line depreciation rate = 1/3= 33.3% per year
Depreciation rate for double declining balance method = 33.3% x 200% = 33.3% x 2 = 66.6% per yearDepreciation for 2010 = $100,000 x 66.6% x 6/12 = $33300
Finally, depreciation is given by;
Depreciation expense = (Cost – Salvage value) x Fraction according to sum-of-the-years’-digits method.
Impairments
Assets may be revalued to establish the true value of the fixed assets that are owned by a business venture. In many instances, such values of the assets fluctuate due to a variety of reasons including decline in demand, wear and tear, age as well as obsolescence. However, it is always expected that the carrying amount of the assets are recovered during the process (Schueze, & Wolnizer, 2004). The projected cash flow from the use and discarding of the asset should equal or exceed the carrying amount failure of which impairment shall have occurred. In such situation, the asset’s carrying amount is not recoverable and a write-off is inevitable. Impairment may occur when assets are held for use as well as for resale. In the former, impairment loss equals carrying value less Fair value but the restoration of such loss is not permitted. Furthermore, the depreciation is taken on a cost basis unlike when the assets are held for resale. On the other hand, restoration of the impairment loss is permitted in cases where the assets are held for resale (Schueze, & Wolnizer, 2004). Here, the Impairment loss equals carrying value less fair value less cost of disposal. Generally, an asset impairment accounting entails the estimation of profit generated from capital assets over a period of time usually more than twenty years in comparison to the book value of the asset and the gains or loss posted in respect to the difference (Schueze, & Wolnizer, 2004).
Depletion
Just like depreciation, depletion involves the process of cost recovery through tax reporting as well as accounting. Depletion is generally applied in such industries as petroleum, HYPERLINK “http://en.wikipedia.org/wiki/Mining” o “Mining” mining, HYPERLINK “http://en.wikipedia.org/wiki/Timber” o “Timber” timber, among other similar firms. An operator or an owner of the asset in question can account for the decrease in the reserves of the product through the application of depletion deductions. Different types of depletion are utilized in respect to the kind of assets in question. For instance, cost depletion is necessary for standing timber while a method that gives a larger deduction is suitable for a mineral property (Eisen, 2003). The cost and percentage depletion types are generally used for the purpose of tax reporting. Generally, Depletion entails the writing off of natural resources through cost basis (Eisen, 2003). It is achieved through calculation of depletion expense of single units followed by multiplication by the total number of units extracted in a certain period. Therefore:
Depletion expense per unit = (Cost – Estimated Salvage Value)/Total Estimated Units Available
Despite the aforementioned advantage, cost recovery through depletion is characterized by a variety of problems including difficulties in the estimation of recoverable reserves, discovery values as well as justifying for the liquidating dividends.
Reference list:
Clyde, P. et al (2009). Financial Accounting: An Introduction to Concepts, Methods and Uses.
Florence: Cengage Learning.
Eisen, P. (2003). Accounting the Easy Way. 4th Ed. New York: Barron’s Educational Series.
Schueze, W. & Wolnizer, P. (2004). Mark-to-market accounting:”true north” in financial
reporting. New York: Routledge.
HYPERLINK “http://books.google.co.ke/books?id=emL5BwocihUC&printsec=frontcover&source=gbs_ge_summary_r&cad=0” INCLUDEPICTURE “http://bks1.books.google.co.ke/books?id=emL5BwocihUC&printsec=frontcover&img=1&zoom=1&edge=curl&sig=ACfU3U3Ot-WFSBHQ75qm7JG7bRGx7lQ4eg” * MERGEFORMATINET
Department of Social Sciences
ASSIGNENT ONE
Population: Sociology 303-A
Department of Social Sciences
McNeese State University
Paper – 1
Instructor: Muhammad M. Haque
Based on your reading of the text, and corresponding class lectures and discussion of the materials from Chapter 1: Introduction to Demography, Chapter 2: Demographic Data and Applied Demography and Chapter 3: Demographic Perspectives and Theories, provide a word-processed response to the following questions. This is a seven-page assignment. The first page – cover page – should provide information following the example below. All the information must be typed bold, single spaced, on the left top corner of the page with a one-inch margin.
Name: John A. Henry
ID: 344 56 9987
Paper: One
Course: Population
No. & Sec.: Sociology 303-A
Semester & Year: Fall 2021
Instructor: Muhammad M. Haque
Due date: October 10, 2021
Date handed in:
SECTION A: Describe in brief the history of world population growth from the earliest available estimated date to its present form by identifying its specific trends and patterns. (24+24 lines=Total 2 pages: 100 points)
SECTION B: Based on the history of world population sketched above, provide an explanatory analysis of the trends and patterns by utilizing any one of the demographic theories that you think is the best for the purpose in very succinct form first by providing a description of the theory (12 lines) and then applying the theory to the analysis of the trends and patterns (12 lines). (Total 1 page=12+12 lines: 50 points)
SECTION C: Based on the history of world population sketched in the first section, provide an explanatory analysis of the trends and patterns documented by utilizing a different demographic theory that falls second in order compared to the first one in terms of scientific applicability in very succinct form first by providing a description of the theory (12 lines) and the applying the theory to the analysis of the trends and patterns (12 lines). As you introduce the second theory for explanatory purpose, this must have the mitigatory capacity to address the fallacious arguments of the first one. (Total 1 page=12+12 lines: 50 points)
SECTION D: If you were assigned to investigate the sketch of the world population history and the associated theoretical explanation that you provided, explain which data collection technique (only one) would be the best for this purpose. In this section first provide a brief description of the technique (12 lines) then illustrate the application of the technique to the analysis of the trend and the theoretical application drawn (12 lines). This technique should focus on the population status over the last thirty years. (Total 1 page=12+12 lines: 50 points)
SECTION E: If you were assigned to investigate the sketch of the world population history and the associated theoretical explanation that you provided, explain which data collection techniques you would use that would fall second in order of scientific applicability and be complementary to the first one, covering population status from the earliest arrival of human population to the beginning of the thirty year period analyzed in ‘Section D’. In this section first provide a brief description of the techniques (12 lines) then illustrate the application of the techniques to the analysis of the trend and the theoretical application provided (12 lines) As you introduce the second set of techniques for the analytical purpose, they must have the mitigatory capacities to address the procedural flaws of the first one during the description of the techniques. (12 lines). (Total 1 page=12+12 lines: 50 points)
FORMAT:
1)Your response must follow the precise length as prescribed.
Sections must be labeled as SECTION A:, SECTION B:, SECTION C:, SECTION D:, and SECTION E:. You should start typing the text immediately after typing the section label as capitalized, on the same line, instead of starting a separate paragraph. Spacing between two sections should be the same as the text if they appear on the same page (double spaced).
For a half page response there cannot be more than two paragraphs, and for a one-page response there cannot be more than four paragraphs.
Your paper must be word processed, double spaced, justified (aligned left and right), with one-inch margins on each side (top, bottom, left and right). Please note that sometimes you may have to readjust the margin spacing after examining a proof page if it comes out as not prescribed by going through page setup (in the File or Format icon on the toolbar).
Font size: Times New Roman (12 point).
Print: no dot matrix, only laser or ink jet.
Paper color: white.
Paper size: 8 & 1/2″ by 11″.
No clips or report covers. The paper must be handed in neatly stapled vertically on the left top corner of the page without touching the text.
Attention must be paid to:
a. content (use of textual information and class lectures),
b. critical thinking,
c. grammar,
d. spelling,
e. organization (logical arguments and structure),
f. aesthetics (neatness), and
g. timeliness in finishing the assignment.
Carefully plan. If anything seems unclear, consult immediately after the assignment is handed out and during office hours. Consultation must not take place during the last two days prior to when the paper is due. Please assume responsibility with utmost seriousness.
ASSIGNMENT TWO
Population: Sociology 303-A
Department of Social Sciences
McNeese State University
Collaborative Project – 1
Instructor: Muhammad Haque
SECTION A: Based on your reading of Chapter 5: The Health and Mortality Transition, (a) define the terms life span, life expectancy, and various other measures of mortality, (b) describe, among all the measures which one is the easiest to calculate and which one is most difficult to calculate, and why, (c) develop a very general explanatory model to explore mortality differential by outlining its various direct and indirect social and biological causes without identifying any specific types of societies, (d) specify in what ways the causes you identified in your model may vary between the highly industrialized or modern societies and the least industrialized or traditional societies, (e) describe in what ways changes in mortality levels in any direction—high to low or low to high—may pose a threat to societal stability as well as viability to societal stability, and (f) to analyze all the steps above, describe what types of methodological approaches you would utilize in the collection of data that would be rapid, cost effective, and very precise.
SECTION B: Based on your reading of Chapter 6: The Fertility Transition, (a) define various measures of fertility by distinguishing them from fecundity, (b) describe, among all the measures which one is the easiest to calculate and which one is most difficult to calculate, and why, (c) develop a very general explanatory model to explore fertility differential by outlining its various direct and indirect social and biological causes without identifying any specific types of societies, (d) specify, in what ways the causes you identified in your model may vary between the highly industrialized or modern societies and the least industrialized or traditional societies, (e) describe in what ways changes in fertility levels in any direction—high to low or low to high—may pose a threat to societal stability as well as viability to societal stability, and (f) to analyze all the steps above, describe what types of methodological approaches you would utilize in the collection of data that would be rapid, cost effective, and very precise.
SECTION C: Based on your reading of Chapter 7: The Migration Transition, (a) describe the term migration and define its various measurements by focusing on both, internal and international forms, (b) describe among all the measures which one is the easiest to calculate and which one is most difficult to calculate, and why, (c) develop a very general explanatory model to explore migration differential by outlining its various direct and indirect causes without identifying any specific types of societies, (d) specify, in what ways the causes you identified in your model may vary between highly industrialized or modern societies and the least industrialized or traditional societies, (e) explain in what ways the causal dimension that you portrayed in the explanatory model may vary between internal and international migration, (f) describe, by focusing on both internal and international migration, in what ways the whole migratory process poses a threat to societal stability as well as viability to societal stability, and (g) to analyze all the steps above, describe what types of methodological approaches you would utilize in the collection of data that would be rapid, cost effective, and very precise.
INSTRUCTIONS:
Please note that you will be given a few in-class sessions for the purpose of discussion prior to the actual presentation. If additional time is needed, that must be arranged outside the class session. During the oral presentation every student participant of the group is required to speak. It will be the responsibility of the whole group to collectively decide, divide and share the responsibility as equally as possible during the time of the oral presentation and defense. During the discussion session group must make sure that each student brings the text and notes that are helpful for responding to the questions asked in the assignment. The group has the right to eliminate any member who does not make oral and written contribution in terms of helpful notes during the discussion. However, the student/s in question and the instructor must be informed before any such decision is made to see if any positive resolution can be made. Please note that all forms of conflict must be resolved before the final grade is given. Complaints associated with any disputes will not be accepted after grades have been handed in, due to various legal implications. It is very important that the questions in the assignment are not divided between the group members during the preparatory process of the answers. Rather, the group members must collectively finish answering each question at a time. In that way someone’s absence on the day of presentation will have minimal negative effect on the group performance because every member will have the same information. After finishing responses to all the questions, all of the group members must practice the oral presentation several times as a preparation to finish the presentation in the allocated time. As you practice, each time you should start with a different person in case of any excused absences during the final presentation, since your instructor will decide who will be the first person to initiate the presentation.
Maximum time for oral presentation: Ten minutes
Maximum time for defense: Ten minutes
The following criteria will be used to evaluate your performance:
F D- D D+ C- C C+ B- B B+ A- A A+
00% 61% 65% 69% 71% 75% 79% 81% 85% 89% 91% 95% 99%
a.evidence that you have read the text.
b.evidence that you paid attention to the class lectures.
c.whether or not you have responded to all the questions.
d.whether you have used your critical thinking skills.
e.your enthusiasm in presentation.
f.maintaining proper level of eye contact with the audience.
g.maintaining diversity in the tone of voice.
h.whether you have used artful/effective techniques in your presentation.
i.your scholarly defense of arguments while confronted with questions from the audience.
j.balanced distribution of timing for response to all the questions.
k.finishing the presentation in the allocated time.
l.maintaining balanced coordination between the group members during presentation.
m.maintaining balanced coordination between the group members during defense.
ASSIGNMENT THREE
Population: Sociology 303-A
Department of Social Sciences
McNeese State University
Paper – 2
Instructor: Muhammad M. Haque
Based on your reading of the text, and corresponding class lectures and discussion of the materials from Chapter 8: The Age Transition, provide a written response to the following questions. This is an eight page assignment. The first page – cover page – should provide information following the example below. All the information must be typed bold, single spaced, on the left top corner of the page with a one inch margin.
Name: John A. Henry
Albert H. Adams
Paper: Two
Course: Population
No. & Sec.: Sociology 303-A
Semester & Year: Spring 2004
Instructor: Muhammad M. Haque
Due Date: October 10, 1999
Date Handed In:
SECTION A: Address the following terms—1. Age Cohort, 2. Sex Ratio, 3. Age Pyramid, 4. Average Age of a Population, 5. Dependency Ratio, 6. Growth Rates by Age, 7. Stable Population, 8. Zero Population, and 9. Stationary Population—first by defining them, and then by introducing their calculation process. For any particular term that does not have a formula or calculation process available, offer its brief description. Please ensure that the treatment to each concept, in terms of segment length and answer, is proportionate to the total length as indicated in parentheses. (Total 2 pages=24+24 lines: 100 points)
SECTION B: In this section provide a very brief description of the usage of the above demographic measurements by the demographers (12 lines) and the non-demographers (12 lines). (Total1 page=24 lines: 50 points)
SECTION C: Define the term ‘aging’ (old) from a biological and a social point of view with very specific illustrations. Provide your response in descriptive form rather than cursory indicative illustrations. (Total 1/2 page=12 lines: 25 points)
SECTION D: Make a distinction between the biological and social aspects of aging in addressing the causal processes determining the status of the elderly. In the process of discussion, address how the concepts of fertility, mortality and migration processes, discussed during the first part of the course and the concept of age stratification presented in Chapter 8, and the schematic diagram provided in the class, aid in the preparation of this segment of the assignment. (Total 2 and ½ pages=24+24+12 lines: 125 points)
SECTION E: Provide a descriptive illustration of the efficacy of studying the area of aging and its associated processes by the demographers (12 lines) and non-demographers (12 lines) in some specified professional settings. (Total 1 page=24 lines: 50 points)
FORMAT:
1)Your response must follow the precise length as prescribed.
2) Sections must be labeled as SECTION A:, SECTION B:, SECTION C:, SECTION D:. and SECTION E:. You should start typing the text immediately after typing the section label as capitalized, on the same line, instead of starting a separate paragraph. Spacing between two sections should be the same as the text if they appear on the same page (double spaced).
3)For a half page response there cannot be more than two paragraphs, and for a one page response there cannot be more than four paragraphs.
4)Your paper must be word processed, double spaced, justified (aligned left and right), with one inch margins on each side (top, bottom, left and right). Please note that sometimes you may have to readjust the margin spacing after examining a proof page if it comes out as not prescribed by going through page setup (in the File or Format icon on the toolbar).
5)Font size: Times New Roman (12 point).
Print: no dot matrix, only laser or ink jet.
Paper color: white.
Paper size: 8 & 1/2″ by 11″.
No clips or report covers. The paper must be handed in neatly stapled vertically on the left top corner of the page without touching the text.
Attention must be paid to:
a. content (use of textual information and class lectures),
b. critical thinking,
c. grammar,
d. spelling,
e. organization (logical arguments and structure),
f. aesthetics (neatness), and
g. timeliness in finishing the assignment.
Carefully plan. If anything seems unclear, consult immediately after the assignment is handed out and during office hours. Consultation must not take place during the last two days prior to when the paper is due. Please assume responsibility with the utmost seriousness.
ASSIGNMENT FOUR
Population: Sociology 303-A
Department of Social Sciences
McNeese State University
Collaborative Project -2
Instructor: Muhammad Haque
SECTION A: Based on your reading of Chapter 11: Population and Sustainability, (a) make a distinction between economic growth, (b) economic development and (c) social development in both definitional and descriptive forms.
SECTION B: Following the distinction made above, demonstrate how you would argue in favor of the position that population growth acts as a stimulus to economic development. For a critical response to this segment of the assignment you may consider reviewing Chapter 3: Demographic Perspective.
SECTION C: Following the distinction made between economic growth and economic development, demonstrate how you would argue in favor of the position that population growth acts as a detriment to economic development. For a critical response to this segment of the assignment you may consider reviewing Chapter 3: Demographic Perspective.
SECTION D: Based on the population growth’s position as a stimulus and a detriment to economic development, explain how these two positions are attendant to the status of the global environment in its past, current and future forms.
SECTION E: Based on your reading of Chapter 12: What Lies Ahead? and corresponding class lectures, define the term population policy by making a distinction between direct and indirect input measures to the total policy framework.
SECTION F: Develop a general population policy framework for any one of the less developed countries with its specific intervention criteria, taking into consideration three dynamic processes and their patterns—fertility, mortality, and migration. As you develop the policy framework and its interventional criteria, you must demonstrate that ultimately the developmental status that the country will arrive in will be socially balanced, economically cost effective, and environmentally sustainable in the long run.
INSTRUCTIONS:
Please note that you will be given a few in-class sessions for the purpose of discussion prior to the actual presentation. If additional time is needed, that must be arranged outside the class session. During the oral presentation every student participant of the group is required to speak. It will be the responsibility of the whole group to collectively decide, divide and share the responsibility as equally as possible during the time of the oral presentation and defense. During the discussion session group must make sure that each student brings the text and notes that are helpful for responding to the questions asked in the assignment. The group has the right to eliminate any member who does not make oral and written contribution in terms of helpful notes during the discussion. However, the student/s in question and the instructor must be informed before any such decision is made to see if any positive resolution can be made. Please note that all forms of conflict must be resolved before the final grade is given. Complaints associated with any disputes will not be accepted after grades have been handed in, due to various legal implications. It is very important that the questions in the assignment are not divided between the group members during the preparatory process of the answers. Rather, the group members must collectively finish answering each question at a time. In that way someone’s absence on the day of presentation will have minimal negative effect on the group performance because every member will have the same information. After finishing responses to all the questions, all of the group members must practice the oral presentation several times as a preparation to finish the presentation in the allocated time. As you practice, each time you should start with a different person in case of any excused absences during the final presentation, since your instructor will decide who will be the first person to initiate the presentation.
Maximum time for oral presentation: Fifteen minutes
Maximum time for defense: Ten minutes
The following criteria will be used to evaluate your performance:
F D- D D+ C- C C+ B- B B+ A- A A+
00% 61% 65% 69% 71% 75% 79% 81% 85% 89% 91% 95% 99%
a.evidence that you have read the text.
b.evidence that you paid attention to the class lectures.
c.whether or not you have responded to all the questions.
d.whether you have used your critical thinking skills.
e.your enthusiasm in presentation.
f.maintaining proper level of eye contact with the audience.
g.maintaining diversity in the tone of voice.
h.whether you have used artful/effective techniques in your presentation.
i.your scholarly defense of arguments while confronted with questions from the audience.
j.balanced distribution of timing for response to all the questions.
k.finishing the presentation in the allocated time.
l.maintaining balanced coordination between the group members during presentation.
m.maintaining balanced coordination between the group members during defense.
Nursing Theory to Direct (2)
Nursing Theory to Direct Her Care
The most appropriate nursing theory is the Theory of Human Caring by Jean Watson. This theory contends that caring potentiates an individual’s capabilities and regenerates their life energies. As highlighted by Jean Watson, the benefits of caring include but are not limited to self-actualization, which is one of the aspects the 30-year-old woman needs. Therefore, the Theory of Human Caring emphasizes the nursing’ humanistic aspects that healthcare practitioners are supposed to intertwine with the nursing practice and scientific knowledge. The theory would also help the patient learn how to mold her immediate environment, including relationships, to benefit her health (McEwen & Willis, 2017).
Concepts from Other Theories That Can Be Used to Enhance Her Care
Human beings cannot be treated as mere objects or separated from the self. Resilience can be grown from social assistance, optimistic thinking, a sense of meaning, and robust relationships. It forms the foundation of healthcare education. Adaptability encompasses the capacity to transform or alter with new information due to the predicament adjustments. Resilience and adaptation are significant in the Strain Theory and Adaptation Model in Nursing Experience. The following tool is pivotal to transforming nurses to be more compassionate, empathetic, and powerful. Professionalism should be upheld during patient care as well as observing responsibility, advocacy, and respect (Black, 2019). The patients need to maintain autonomy over their self-care (Self Care Deficit Theory by Dorothea Orem).
Social help – there are cognitive and emotional benefits to being surrounded by the right people to understand one’s feelings. Emphasis should also be placed on the care delivery systems that promote learning from errors, prevents errors using non-punitive measures, and promotes a culture of safety. The healthcare practitioners should employ a clinical decision-making process government by subjective and objective information about a patient. This helps avoid exposing the healthcare consumer to risks. A healthcare system should also uphold moral rules to defend and protect the rights of the healthcare consumers, avoid harm, and mitigating conditions that can contribute to harm. Other concepts include; Social supports, behavioral therapy, cognitive, or psychotherapy; Pharmacotherapy, and Supportive counseling
References
Black, B. (2019). Professional nursing e-book: Concepts & challenges. Elsevier Health Sciences.
McEwen, M. and Wills, E.M., 2017. A theoretical basis for nursing. Lippincott Williams & Wilkins.