Renewable Forms of Energy Wind Energy Essay - 1320 Words

Renewable forms of energy are becoming more and more necessary for a sustainable future. Wind energy is a form of energy that is becoming more and more popular, and it offers a way for people to harness energy from something natural to create electricity. Wind energy in addition to other sustainable forms of creating energy are going to start taking the place of fossil fuels as people realize the true benefits of using them. There are many benefits of using wind energy in comparison to using fossil fuels. The first is that once wind turbines are built, they don’t release greenhouse gasses into the atmosphere. Wind energy also doesn’t pollute the air or water with other pollutants. Of course some greenhouse gasses and other pollutants†¦show more content†¦Coal costs 3.14 cents per kilowatt-hour (Pare); this cost includes the capital cost, operating and maintenance costs, and the price of the coal itself (Pare). Natural gas on the other hand costs 4.95per kilowat t-hour (Pare); this cost includes the capital cost, operating and maintenance costs, and the price of the gas itself (Pare). Wind energy costs 3.14 cents per kilowatt-hour this includes the capital costs and operating costs, but wind itself is free, so there is no cost for the source of energy (Pare). Based on the direct costs, wind energy is the same price as coal and cheaper than the cost of natural gas (Pare). If the indirect costs such as health and climate change are also incorporated into the total cost of the forms of energy, the price of natural gas rises to 8.09 cents per kilowatt-hour and coal rises to 10.29 cents per kilowatt-hour (Pare). The only indirect costs of wind power are that they aren’t exactly visually attractive to many people, and they can kill birds. These indirect costs of wind energy can’t accurately be quantified therefore the total price of wind energy remains at 3.14 cents per kilowatt-hour, making wind energy cheaper than both natural gas and coal when all costs are compared (Pare). Below is a chart representing the cost of these energy sources. One problem with wind energy is its consistency. Wind speeds are constantly changing. There isn’t a way for wind energy to meet human’s needs one hundred percent of the time unlessShow MoreRelatedNew And Alternative Sources Of Energy1311 Words   |  6 Pages Today s society uses enormous amounts of energy. *The shadow of our presence on this planet is a result of generations upon generations of production and utilization of energy*. New and alternative sources of energy are being developed to replace the declining accessibility of coal and fossil fuels. Use of renewable energy is a key component in combatting the climate change that has become a major issue in the 21st century. 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Accounting Treatment of Intangible Assets Free Essays

Accounting Treatment of Intangible Asset Draft Pace University ACC692 Summer I By Yigal Rechtman July 30, 2001 Introduction What is the problem? Accounting for intangibles has gained prominence in the past few decades due to changes in the way the business world operates. The technological revolution and in particular, the information age, has brought intangible resources to the fore of the business environment. Businesses ( even the most traditional production manufacturers ( are moving towards an information age where a competitive edge is increasingly linked to resources other than the fixed and liquid assets as understood by Generally Accepted Accounting Principles (GAAP). We will write a custom essay sample on Accounting Treatment of Intangible Assets or any similar topic only for you Order Now Some research has shown that accounting for Intangible Assets (IA) – a general term that will be defined and separated later – will fulfill the accuracy requirement of the accounting functions and reports. Other research has shown that accuracy will have to be traded off with relevance of the accounting functions and reports. Still other research claims that neither accuracy nor relevance are served by accounting for resources that do not meet the current definitions of Assets under GAAP. Accordingly, there are two questions regarding the accounting for IA: 1. Should the Generally Accepted Accounting Principles recognize as financially relevant and accurate events that arise from IA? 2. How should GAAP account, process and present these IA related events (if the answer to question number 1 is positive. ) Question number one is answered in the positive: the existence of IA in the current business environment is proven in repeated investigations. Further, the economic effects of IA on corporations has shown that not disclosing or accounting for such resources amounts to miscomunications regarding the activity and financial state of a business. The research that was used in this paper has shown that Intangible Resources are increasingly a factor in the business world. Intangible resources, as will be discussed below, is a super-set group of strategic elements that contribute to the success of a business. IA, in turn is a sub-set of the Intangible Resources. The paper intends to explore the current range of thinking relative to IA and how such resources should be valued, recognized and presented in the financial reporting of U. S. companies. The question of how to account for IA poses different challenges, some of them related back to the answer of the first question. As this paper will show, recognizing IA on an entity(s books can be seen as a natural next step, especially for certain knowledge industry type businesses. However, the challenges to the issue of recognition remain: how to determine IA in a meaningful manner? How to report IA and what are the possible ramification of alternative accounting treatments? Scope and Method of Exploring the ProblemScope and Method of Exploring the Problem The process of finding information about the topics relating to IA, and obtaining an understanding of the issues, involved an introduction by means of participating in a conference on the subject and obtaining complimentary readings of published articles. The Third Annual Conference on Intangible Assets, sponsored by New York University(s Ross Institute produced a documentary of the presentations, which were used in this paper. Additional published material was obtained through the ABI-Inform database, by searching for (Intangible Assets(, (Intangible Accounting( as well as (Assets Valuation( and (Appraisal, Intangibles( for the years 1976-2000[? ][i]. The search was limited to articles available in full form on line (versus articles in which only the abstract is available on line. ) This paper refers to twenty articles that were obtained through ABI-Inform and ten articles from presenters at the NYU(s conference. Two points should be made in terms of the scope of the discussion. First, the discussion includes IA as it is captured and presented for external, possibly audited, users of the entity(s comprehensive financial statements. Unless otherwise stated, financial statements herein are presented with conformity of United States( Generally Accepted Accounting Principle (GAAP). Within the latter confines, estimates such as amortization and useful life of an Intangible Asset (IA), although a valid issue, will be generally out of the scope of this paper. The reason for the limitation is that for cash flow purposes, as well as for balance sheet analysis, such estimates represent regulatory requirements and provide little by way of capturing the essence of the issues surrounding IA. Therefore, the ultimate purpose of this paper is to venture out of the confined safety of U. S. GAAP and investigate what other isms are possible for presentation of a Statement of Financial Position which incorporates intangible assets. The method of this paper consists of discussing the three criteria which are used to assess the alternatives to accounting IA: valuation, recognition and presentation. Each of these criteria is measured on a scale from 0 to 100 (alternatively, from 0. 0 to 1. 0) to show the extent of the departure of the alternative from the currently accepted method, usually the Generally Accepted Accounting Principles. Because Goodwill is already an established IA under current accounting rules, it will be discussed first (for each criteria) to show the extent of the existing treatment. Although other IA such as Human Capital or Patents exist, they are often either unaccounted for or simply replaced by a generic (Goodwill( entry on the books. Although they are all intangible resources[? ][ii], it can be shown that not all are Assets (as defined herein). This paper will also explore the possibility that, perhaps intangible assets such as Human Capital should not be substituted for by the generic (Goodwill( entry. Definitions Some unclear, overlapping and unstructured definitions occupy the set of IA issues. in turn, some researchers have used inconsistent definitions of IA, reducing the transparency that accountants and financial experts have to discuss these issues. Although excellent analysis has been published, such research is often not consistent in scope or definition to other frame work and conceptual essays that are contemporarily published. Therefore, aside from giving this (creature( a proper name, and calling all its parts using the same taxonomy, coupled here from various sources. The dictionary defines IA as (an asset that is saleable though not material or physical([? ][iii] and (Intangible: †¦ an asset that can not be perceived by the senses†¦ such as Goodwill or dedication([? ]. According to the FASB, an internally generated IA is proposed to be defined[? ][v] as: (1) a past event that has a (2) measurable effect and that presents a (3) future benefit. The FASB Special Report[? ][vi] states that there is not a need for different rules of recognition for internally and externally generated IA. The FASB clarifies that internally generated IA is simply an (Asset( without a physical presence, nor does have to it be an external acquisition: as long as all three tests are conformed with, any business event or process can produce an IA. The FASB further notes that there is an embedded conflict in this definition because it contains a departure from the (historic cost( principle. The move to a (forward looking( definition is defended by the FASB in making an argument for further disclosure, not a modification for the format and content of the existing presentation rules. In this presentation, for the purpose of defining IA (internally or externally generated) the FASB definition will be applicable. Intellectual Capital (IC): A business entity uses three types of capital: physical, financial and intellectual[? [vii]. Intellectual capital (IC) is defined as an intangible asset that is not financial or physical and that has been (formalized, captured and leveraged to produce a higher-valued asset([? ][viii]. The raw material, captured and formalized in the process of capitalization of IC, is knowledge. Knowledge resides within an individual, a group of individuals or entity-wide. Knowledge that is structured in a formal manner (usually with an information system, computerized or otherwise) is just data. When it is purposeful and useful, data is considered information. Information made use of is knowledge[? ][ix], which can become an IC. In the discussion of IC, several disaggregation of IC exist. For the purpose of this discussion, the following categorization will suffice as (all inclusive(. This paper does not intend to be exhaustive in its definitions. It can be shown that other examples of IC can be found (and the definition extended) without diluting the effect of the issues at hand. The classification proposed in this paper uses the following examples of IC: Human Capital, Intellectual Capital and Structural Capital. Human Capital (HC) is arguably the most elusive from accounting for in financial or quantitative terms. Some[? ][x] argue that HC is the most active value driver in the business world today. Intellectual Capital (InC) has been at times presented under different names, too: (Patents and brand names[? ][xi]( or Social Capital (the latter is a definition of a hybrid of Human Capital and Organizational Capital. ) InC, abstractly is intellectual property that stem from (or relate to) innovation within the entity(s business. Structural Capital (SC) can be better described that defined: SC is any leverage that can be described in terms of the relationships of functions within the organization and the leverage of entities outside the organization. For example, a customer base relationship – qualified or quantified – is a SC that can be portrayed as an external relationship; an Enterprise Resource Plan (ERP) that allows departments within a company to facilitate resource allocation is an instance of SC. Goodwill: Goodwill is arguably the most conforming IA to GAAP: It is the excess of Fair Value (FV) over Book Value in a purchase transaction. Currently, treatment of any of IA has been confined to Goodwill produced on the balance sheet from acquisition under the purchase method. As the only allowed IA capitalization, Goodwill appear in many studies pertaining account for IA. For GAAP purposes, three tests are applied to allow recognition of an event as an Asset: 1. the event is a past-event, 2. it is measurable and 3. it contains probable future benefit. Goodwill passes the (past event(, (measurable effect( and (future benefit( tests. The reason Goodwill can be seen as a past event is that it is easy to date the creation of an acquisition under the purchase method where the fair value (FV) of an acquired entity is lower than the adjusted basis (AB) to the acquiring entity. Goodwill arising from a consolidation, merger or takeover transaction has produced inconsistent definitions of the (other( classes of IA. For example, at times a well trained workforce is describe plainly as (unrecognized Goodwill( due to the disallowed recognition under GAAP (the proper classification for such a workforce is HC). Although this paper is not intended to disprove these notions, definition clarification can aid in seeing the general direction of accounting for IA Evaluating possible answers to the question of Accounting Treatment of Intangible Assets Treatment by an accounting method is based on Measurement, Recognition and Reporting dimensions. In order to present these dimensions, this paper will attempt to survey the range of possibilities and plot them on three dimensional coordinate axises of possibilities: 0 being the most conservative point and 100 being the most (daring( in terms of relevance and accuracy. Thus, the treatment of IA can create a multi-dimensional view of the accounting classification, reporting and even auditing. Imagine a three dimensional cube with an X, Y and Z axises. On the X axis spread are the ideas about recognition of IA. On the Y axis we shall plot the various metrics (measurement) that are proposed for IA. Finally on the Z axis will lie the proposed solutions for the presentation aspects of IA. The difference between recognition and metrics should be explored further: metrics are the models upon which, ultimately, monetary amounts are made available for classification. Recognition, on the other hand, are the issues that mandate the accounting perspective of the monetary (and possibly non-monetary, too) information that can be captured. The matter of presentation touches on the financial statement and the disclosure issues that surround IA. Measuring and Valuing Intangible Assets Goodwill measurement is the only existing allowed GAAP-related event. The measurability of future benefit from Goodwill is based on known measures of financial events, namely the Adjusted Basis (also known as Book Value, or AB) and the Fair Value (FV). In a Goodwill event, the FV is the purchase price. The AB amount is discernable; the FV amount can arguably be changed according to market and strategic conditions. This discussion will assume, however, that FV is a fixed amount, available to accountants and the public. Therefore, Goodwill is an excess between two set amounts, Fair Value (of assets acquired) and Adjusted Basis (paid by acquiring entity). By definition, this is a measurable amount. Realizing Goodwill can be stated this way: the reason an acquiring entity is willing to pay more for the acquired entity more than the estimated assets( FV is because of difference of assumptions in the definitions of FV. Therefore, the FV to the acquiring corporation is different than the FV to the acquired corporation: the former sees future cash flow that is greater than the cash flow seen by fundamental look at the balance sheet of the acquired entity. In a sense, this is a statement about the value of the effect of (gamma( ( the effect of (growth( ( in the example given elsewhere in this paper (see Appendix). Thus, the acquiring entity sees a measurable amount of inflow of cash that can justify the excessive cost up front. Current research indicates that IA and, in general, non-financial events are measurable. The main conflict is deciding on which model to rely on, and moreover, which model to use as a standard measurement. The problem with measuring IA is that such measurements are too specific to an industry and perhaps to a particular entity. Research yields plenty of data showing how measurements can be conjured up to measure certain non-financial, intangible events. For example, measurements models exist to quantify information[? ][xii], or the value of business alliances[? ][xiii], et cetera. These models show that values of quantity, rate of growth and other statistics can be obtained at a feasible cost[? [xiv]: (existing techniques and expanded use of nonfinancial metrics seem to offer a more cost effective solution. ( However, the FASB Special Report states that making such proprietary measurements useful for general purpose accounting and financial reporting is not likely. The problem with value models or future-inflow metrics is that they are estimates. Like depreciation schedu les, valuation methods are based on assumptions. Because they often include not just one or two variables but numerous independent variables, the number of assumptions grow at least in linear proportion to the number of variables. For example, a Human Resource valuation model by Skandia, an insurance and financial corporation (Sweden) has been criticized for having up to 140 variables[? ][xv]. Unlike depreciation, which requires disclosure of one or two assumptions, disclosure of such complex models, even if they include only 5 to 10 variables, can be quite unfriendly to the user. Furthermore, a multi-variable model is generally susceptible to greater risk of contradicting of any of the assumptions, leading to invalidating the results of the entire model. Generally, measuring IA is a departure from historical cost[? ][1]. GAAP requires that the cost, or past event principle, guide any valuation. This requirement is in keeping with GAAP(s frame work of conservatism. When an IA is appraised in value it becomes a forward-looking measurement which is not compatible with other elements of GAAP. Future Value is the opposite of the principle of reliability in GAAP driven financial reporting: the accuracy of past events reported is the crucial element of its reliability[? ][xvi]. However, value projection can be manipulated to create certain effects. For example, a projection can be made by Management (and included in a financial report) about the future effect of a certain Internet domain name that is owned by a company, such as (money. com(. The projection is unique enough that it cannot be verified by other sources. In order to have measurability of IA, a compromise between the forward looking and historic cost principles is sought. Seemingly, past-based and future based measuring can not be consistent. It may be possible however to reconcile the projective nature of valuating IA and the required verification by historic cost in GAAP by creating an appraisal mechanism. Arguably, appraisals can be done by means of three approaches[? ][xvii]: cost, comparable market or income. Approaches used in Appraisals: Approaches used in Appraisals The cost approach estimates the value of an asset at an arm(s length transaction; this approach is inapplicable to IA; for example, HC is not measurable or even possible to conceive as an (arm(s length( transaction. Goodwill, also by definition, can not be an (arm(s length( transaction because an excess is paid by a purchaser above the FV of an acquired target. Similarly, SC can not be assessed this way because of its unique, untransferable characteristic. The market approach states that appraisals of similar purchased (or sold) goods or services can be a basis for estimating the value of the transferred property. Although a model for HC or InC can be built based on the market appraisals approach, SC can not be fit into a model that includes transferring assets in an exchange. IA of that nature loses its value in such a transfer. The income approach is most fitting to the accounting use in terms of IA. Present Value analysis is available and established within GAAP as a model. Its application in an IA valuation depends on the class of IA. Goodwill, for example, is inherently suited to the income approach valuation: the excess over FV represents the purchaser(s belief in enhanced cash in flow over a known (fixed) length of time, such that this inflow will surpass not only the declared FV but also the (higher) purchase price. However, SC has little known useful life, as does in part InC. For example, a distributed warehousing corporate structure, or a Just In Time production process can not have a reasonable income based appraised value because their useful life is not known, nor can it be averaged in the same way that for example, investment in employee training (HC) can be. However, HC is not completely compatible with the income approach, either: employee satisfaction and loyalty (both IAs) are similar in concept to the element of (going concern( because once HC(s useful life is in doubt, the going concern of the entity is generally in doubt, too. Users of financial statements are often wary of appraisals as they represent – at best – a range of possibilities. Consequently, an approximation of value diffuses the utility of fundamental analysis of the financial statement in question. At worse, appraisals represent a biased, subjective and diverted view point of the management. Even in an honest attempt to value an IA, a range must by provided or alternatively, a tradeoff measure of (confidence level( accompanies any so-called (fixed( dollar amount. In any way, an Appraisal[? ][xviii] does not produce a consistent monetary measure. On the Y axis all appraisals are at the high read: unsubstantiated, (daring() end, at Y=90. A (Real Options( valuation model describes a series of future inflow of cash (or other benefits or desirable effects, such as employee morale) in a recursive manner: the first event (event number 1) in the series is an evaluation of the chance that a successful beneficial event will come to pass i n the second event (event number 2). For events that are not the first event, (Real Options( model defines the event number N+1 as (if event N has been successful to obtain a desired result, evaluation of the possibility of event N+1 to occur is computed, along with the possible benefit of N+1. If event N has a result that is undesirable, the entire process ends. ( So, instead of seeing the model of future cash flow (or desirable result events), a Real Options model does not have a (useful life( but attempts to predict when the series of events will end and what the accumulated result will be. The Real Options model, however weak (in terms of assumptions or addition to understanding of (useful life(), does solves another conflict in measurement of IA: the conflict between consistency of an entity-specific measurement and the fair-value approach. The key for consistency is that no assumptions are made a-priory to using the model: each step has its own unique scenario and set of assumptions that can be extended and extrapolated by an external user or for internal use[? ][xix]. Because it is a projective model where future benefits are based on some assumptions, it can not be much more conservative than any value model conjured up by managers (or auditors). Consequently, (Real Option(s( place on the Y axis is 85. Proprietary Value Models: Although research abounds with successful examples of special valuation model, the test of consistency is a challenge to these models: (1)consistency of measurement over time (because not enough materials have been collected under any particular model) ; (2)consistency between business units (because the measurements are proprietary and a valuation model that fits an insurance corporation(s will be likely mot fit for a flower-delivery corporation or even an academic institution). And (3)consistency with GAAP: although these measurements are all non-GAAP compliant, by definition of this discussion, they do not rely on GAAP in their assumption. These models often use non-financial reporting assumptions that puts them closer to cost accounting than to financial accounting. For example, banks and lending institutions use proprietary value models to assess credit worthiness of certain IA-laden companies[? ][xx], although these valuations are typically limited to IA such as patents or copyrights because they have leverage in marketable or contractual terms[? ][xxi]. Simply indicating to the user ( external or internal ( that certain valuation is (estimated( or (based on a model( without specifying the assumptions, can lead rendering the valuation an act of providing useless or mis-stated financial value. An abstract standard setting is required to fulfill the task of measuring IA. Attribution of Income: IA can be attributed and recognized by measuring normalized operating income and subtracting the portion of income attributable to other classes of assets. This is a generalized value model that is based on fewer assumptions. It, too, can be located at Y=100. Discussion of examining the range of measurements available for Intangible Assets: On the axis of measurement (Y in this paper), some possible points can be plotted: first, measuring cost is the GAAP derived method (Y=0). For example, historic cost of training, benefits and other outlays of resources can be aggregated to measuring the intangible value of Human Capital, as an asset. Of course, whether such measurement can be recognized or reported must be construed on the respective X and Z axis, as presented elsewhere herein. The historic cost measurement will be on the 0 point of the Y axis (Measurement). In contrast, at the maximum point on the Y axis (Y=100), we plot the concept that allows any proprietary value model. Whether it is acceptable as consistent (read: GAAP compliant) or not, value models are available for managers and users of financial information on any IA-based event. Data mining and computer-oriented accounting information system make creating such models a relatively easy task, albeit a proprietary tool for the reporting entity or industry. Appraisals were often hailed as the magic bullet for such metric setting and some might set that to be the magic (Y=50( on the Y axis. But, as shown earlier in this presentation, appraisals are simply value models that have been warranted or certified and are founded on their own (multiple) assumptions. Because applying the right mix of different appraisals methods, human judgement and experience causes variation in the consistency of this valuation[? ][xxii], appraisals can not be a consistent or reliable method of measuring IA. Thus, appraising an IA receives a mark of 90 on the Y axis. As alternative of future benefit inflow models, a (real-options( model is also available to some small relief of the issues. Real Options, too is set at Y=90. Recognition of Intangible Assets Recognition of Intangible Assets There exists a notion that recognizing IA is a threat to proper disclosure of current period expenditures: capitalization of certain outlays can be seen as a scheme for expense deferral, designed to enhance the perceived value to creditors (shareholders et al). Proper classification, processing and reporting structures designed to deter such improper reporting can be effective. Overall, requiring additional disclosure can only enhance the utility of the financial report to its users. On the other hand, it is easy to prove logically (see Appendix) that IA should be recognized, assuming that it can be properly and consistently measured. The argument for capitalization essentially shows that if one assumes that (1) A company must have a growth factor ((gamma() in its assets in order to survive; (2) Outlays of assets (cash) in period N reduces Equity in period N; (3) If (gamma( is present then recognizing outlays as expenses in period N understates Equity in period N; Therefore, the recognition of expenses is inaccurate, and the capitalization of these outlays is required. In this paper, the X axis will become the range of possible recognition treatments of IA. In general, several points of view are identifiable on this axis. Currently, GAAP does not allow for recognition of IA (except Goodwill from purchase transaction) either because of the control test[? ][xxiii] or because of the measurability test (measurability pertains to the Y axis in this model). An opposing view is presented states in essence that IA are either any excess of market value over book value, or that earned income, before depreciation, amortization, and taxes (or some other similar representation of operating income) can be allocated([? ][xxiv] to the different asset classes: fixed, financial and intangible. Finally, using a completely projectionist method future cash flow as the value of an IA (perhaps in conjunction to subtracting the adjusted-basis and adding the disposal value) might allow non-GAAP recognition of an such an IA. GAAP Recognition: Currently GAAP contains no reco gnition of IA, other than Goodwill as provided by GAAP. As discussed in the measurement section, above, Goodwill is recognized only under certain purchases where certain tests of the excess of FV over AB are present, giving rise to Goodwill. However, Goodwill is often realized and recognized when another class of IA should be created, instead. Goodwill is realized and recognized due to an excess of a purchase consideration over FV (GAAP). This excess, however can be disaggregated or classified more finely than simply calling it Goodwill: Take for example a hypothetical acquisition of a Value Added Network (VAN) provider by an Internet Service Provider (ISP). The former provides the communication tools, the phone lines and the data traffic from customer(s homes to the Internet. The latter, the Internet Service Provider, can benefit from this acquisition by avoiding renting the VAN(s and instead capitalizing on the acquisition(s future cash in flows. Moreover, the ISP can direct its customer base to use VAN as a preferred channel, creating certain loyalties, flexibility (for the customers) and other added value benefits. Assuming – under GAAP – that the ISP paid the VAN(s shareholders more than the FV of their stock, an entry for Goodwill is required. However, this entry is a misnomer: the Goodwill is not really for the excess value but for the additional structure capital (SC) of the acquiring entity. Mostly, the VAN(s organizational structure can benefit from this excess (only in secondary order is the future cash inflows of the acquired VAN to the ISP. ) Because Goodwill is the only GAAP compliant IA combined with its possible vagueness or generality, it receives a position of 0 on the X axis. Recognizing only Marketable IA: This method allows for some latitude in recognizing certain IA, for example, patents, copyrights, and contractual leverage (with employees, suppliers or customers). Using this method excludes most internally generated IA because their effect is not legally binding. Recognizing IA based on their enforcability and to some degree, marketability gets placed at X=50. Recognizing All Events: Some knowledge based essays argue that all events in a business entity is one of IA. As such, all otherwise not measured events can be considered intangible and once measured, recognized on the entity(s books. Because it is the most relaxed method, recognizing all non-financial events in an index or model of fair value[? ][xxv] obtains X=100. Recapitulate: Valuation Recognition Valuation and Recognition of IA has yielded a two dimensional plain on which different methods are available. At the most conservative level, GAAP driven, is the point (X=0,Y=0) which asserts that measuring asset must be according to the past-event principle (historic cost) and that with the exception of Goodwill, no internally or externally generated IA are accounted for. Departing from this basis, on the valuation scale (the Y axis) are proposed method of measuring the value of IA ((future cash flow(, (appraisal( or (real-option( models) make an interesting combination. For example, assume the point (X=0,Y=100) on the X,Y plain is proposed and accepted. This means that a only historic cost (X=0) is realized and yet, that future cash flow (Y=100) is used for measuring the value of these asset. Thus, any hybrid of such a nature (cell D in the Table I) of conventional measurement and unconventional recognition poses the challenge to the third axis in this paper: presentation of IA.    |   |   |   | |   |Recognition: X=0   |X=50 |X=100 | |   |   |   |   | |Valuation |(A) |(B) |(C) | |Y=0 |( IA not recognized[? [2] |( Select IA recognized, based on |( All events recognized, if not | |   |( Historic Cost |market, contractual. |classified elsewhere they are IA | | |   |( Historic Cost |events | | | |( Historic Cost | |   |   |   |   | |Y=85 |(D) |(E) |(F) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Real option valuation model |market, contractual. classified elsewhere they are IA | | | |( Real option valuation model |events | | | | |( Real option valuation model | |   |   |   |   | |Y=90 |(G) |(H) |(I) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Appraisal (cost, market, income |market, contractual. classified elsewhere they are IA | | |approaches) |( Appraisal (cost, market, income |events | | | |approaches) |( Appraisal (cost, market, income | | | | |approaches) | |   |   |   |   | |Y=100 |(J) |(K) |(L) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Proprietary Value Model |market, contractual. |classified elsewhere they are IA | | | |( Proprietary Value Model |events | | | | |( Proprietary Value Model | Table I: Intersection o f measurement and recognition approaches for IA[? ][3] Presentation of Intangible Assets The issue of possible presentation of IA as part of a financial statement must be addressed by the Reporting utilization that such a report contains. Not specifically within the scope of GAAP(s IA (other than Goodwill) are vaguely disclosed in the financial statement. As research shows, some Securities and Exchange Commission regulated corporations disclose Goodwill in aggregated format, while others disclose the underlying detail. Moreover, the other (disclosure( of IA, specifically to the external user, is done by the Management Discussion and Analysis (MDA) that accompanies most financial statements of publicly held entities. However, MDA is a really only another form of appraisal, and not unbiased at that, in relation to IA valuation. In reference to accounting for IA, MDA is inapplicable as interpretation of the value, structure and other forms of unclassified (and unaudited) material statement can become vague in its message to external users. It is important to note that the internal users of a financial statement are slightly better equipped to properly ascertain the message in the financial report; internal accounting practices, cost management and non-financial reporting facilities can aid an internal user to better gauge the weight and context of an IA reference within the financial statement, be it a Goodwill or otherwise disclosed IA. The current GAAP disclosure practice (but not requirement) is at the lower end of the Z axis (Z=0). Under GAAP, a balance sheet of a corporation that might have intangible resources at its disposal might be presented in the following way (example 1): |   | |Balance Sheet, GAAP Driven | |   | |Assets $1000 | |   | |Liabilities (100) | | | |Equity (900) | Example 1: GAAP Driven Balance Sheet Complete inclusion of any intangible resource available to a company is in contrast to the current GAAP treatment. A complete inclusion of non-required disclosure of IA is at the farthest end of the Z axis the concept of full integration of IA in the financial reporting (Z=100) . Of course, this in itself is a valid notion because full disclosure of IA represents expressing mostly relevant information to the user of the financial report. [? ][4] Relevance however, has a trade off with accuracy. The relevance of including any and all IA in a financial statement might hinder on its accuracy; the example below makes this point. Full integration of IA in a financial report can lead to a balance sheet of the following format (example 2):    | |With Considering IA, Complete Inclusion | |   | |Assets $1500 | |(capture events related to both tangible and intangible resources) | |   | |Liabilities (100) | |   | |Equity (1500) | Example 2: Complete Inclusion driven Balance Sheet A possible over-statement of Assets by $500 exists under a complete inclusion method, which is most permissive in relation to GAAP. This type of presentation contains all resource-based events pertaining to the business at hand. It includes both financial and non-financial events pertaining to the entity. Some of this superset(s contents are IA that are externally or internally generated. For example, employee loyalty or positive media coverage are non financial events that affect its financial position. A possible reconciliation between the requirements to present certain financial statement elements (such as fixed assets, financial assets, current and non current liabilities, shareholders( capital et cetera) can be obtained in a tiered financial report. The concept behind a tiered financial report is that the core of any financial report must be GAAP driven. Its benefit to any user must continue in order to provide consistent, accurate and standardized language of communication of a financial position. Within this core, GAAP reporting is one where the balance sheet presents the assets and the claims against them. This fundament is in turn included in a larger set which can include not only cost-related assets but value driven assets, i. e. IA. Conceptually, IA that provide a growth factor (recall: gamma 1) is meaningful to the financial position of the reporting entity. For example, suppose an internally generated IA such as organizational structure or shared knowledge exist (assuming it can be valued and recognized). Under GAAP IA are not attributed to growth of several periods (by definition, growth is the increase of the value of an asset between successive periods). However, for the users of the financial statement, the information about such growth is important in making educated decision about the going concern and prospects of the entity. Thus, the compromise format of financially reportable events includes a degree of IA-related events that can affect a reasonable user(s decision-making process. This type of reporting mechanism is about mid-way between GAAP and Non-GAAP reporting format, at Z=50. An example of a tiered balance sheet follows (example 3): |   |   | |Without Considering IA |With Considering IA, Tiered Format | |   |   | |N/A |Intangible Asset $300 | | |(Note: Recognize IA events based on historical ost) | |   |   | |Assets $1000 |Assets 1000 | |   |   | |Liabilities (100) |Liabilities (100) | |   |   | |Equity (900) |Equity (900) | |   |   | |N/A |Equity Attributed to Intangible Asset | | |(300) | Example 3: (Padded( Balance Sheet In essence, this type of (padding( of a balance sheet is derived from the set concept introduced above. The (core( statement, consisting only of Asset, Liabilities and Equity, remains intact. An extended set of financial events allow further disclosure of the financial effect of IA (in this example, by using the most aggressive GAAP-departure valuation method). Recapitulate: Recognition and DisclosureRecapitulate Recognition and Disclosure Just as Valuation and Recognition can be plotted on a two dimensional plain, so can the axis of Recognition and Disclosure. Overall, the X,Y and Z axis allow us to examine the problem at hand on a three-dimensional basis. The intersection point of the Recognition alternatives in relation to the Disclosure alternatives follows: |   |   |   |   | |   |Recognition |   |   | | |X=0 |X=50 |X=100 | |   |   |   |   | |Disclosure |(M) |(N) |(O) | |Z=0 |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | |   |( No GAAP required Disclosure, |market, contractual. classified elsewhere they are IA events | | |only discretionary MDA |( No GAAP required Disclosure, only |( No GAAP required Disclosure, only | | |   |discretionary MDA. |discretionary MDA | |   |   |   |   | |Z=50 |(P) |(Q) |(R) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Tired ((Padded() Financial |market, contractual. |classified elsewhere they are IA events | | |Report |( Tired ((Padded() Financial Report. ( Tired ((Padded() Financial Report | |   |   |   |   | |Z=100 |(S) |(T) |(U) | | |( IA not recognized |( Select IA recognized, based on |( All events recognized, if not | | |( Full financial incorporation |market, contractual. |classified elsewhere they are IA events | | |of IA – undefined |( Full financial incorporation of IA. |( Full financial incorporation of IA | Table II:Intersection of measurement and reporting approaches for IA. Cells M-U describe the X,Z plain (the letter are assigned sequentially). To complement tables I and II, the intersection of valuation alternatives and disclosure methods available are included in Table III: |   |   |   | | |   |Disclosure |   |   | | |Z=0 |Z=50 |Z=100 | |   |   |   |   | |Valuation |(V) |(W). (A1) | |Y=0 |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. |( Full financial incorporation of IA | |   |only discretionary MDA |discretionary MDA. |( Historic Cost | | |( Historic Cost |( Historic Cost | | |   |   |   |   | |Y=85 |(A2) |(A3) |(A4) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. ( Full financial incorporation of IA | | |only discretionary MDA |( Real option valuation model |( Real option valuation model | | |( Real option valuation model | | | |   |   |   |   | |Y=90 |(A5) |(A6) |(A7) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. ( Full financial incorporation of IA | | |only discretionary MDA |( Appraisal (cost, market , income |( Appraisal (cost, market, income | | |( Appraisal (cost, market, |approaches) |approaches) | | |income approaches) | | | |   |   |   |   | |Y=100 |(A8) |(A9) |(B1) | | |( No GAAP required Disclosure, |( Tired ((Padded() Financial Report. |( Full financial incorporation of IA | | |only discretionary MDA |( Proprietary Value Model |( Proprietary Value Model | | |( Proprietary Value Model | | | Table III:Intersection of measurement and disclosure approaches for IA. DiscussionDiscussion The problem of Intangible Assets revisited Conceptually, the accounting for IA is at the heart of the framework that links the Balance Sheet and the Income Statement: at its core the balance sheet is a statement of resources while the income statement is a an expression of the utilization of these resources (tangible or otherwise available to the entity). Coupled, the traditional balance sheet and income statement includes only tangible resources. However, the traditional Income Statement includes activities that stem from using all available resources. In the asymmetry lies the reason for inclusion of IA resources on the Balance Sheet. For example, outflows for compensation is often the single largest expense of a corporation. Yet, employee knowledge, or other types of Human Capital are rarely disclosed. Further, any activities that are profitable, i. e. where the growth factor ((gamma() is greater than 1, are attributed only the tangible resources. Classes of Intangible Assets IA can be divided to two classes: resources that are within the control of the organization and resources that are only partially within the control of the organization. To maintain a mathematic model, we can introduce OC, Organizational Control, such that: For IA such as Customer Base and Customer Relations Index, Vendors( Credit and Trust, Internal Production or Service Procedures, OC = 1. 0, i. e. there is complete control over the resource, which is an intangible asset; For IA such as Human Skill Level , Employee Satisfaction and public Relation Index ((Public Image(), OC 1. 0. The following is an imaginary – yet possible – comparison of two companies that might have different levels of Organizational Control over their IA, classified according to their business type. Table IV is an illustration of OC levels: |   |   |   | |   |(Tobacco and food conglomerate(|(Northeastern Ice-cream | | | |Manufacturer( | |   |   |   | |Organization Control Level = 1. 0 |   |   | |   |   |   | |Customer Base |1. 0 |1. | |   |   |   | |Vendor(s Credit |1. 0 |1. 0 | |   |   |   | |Internal Production Procedures |1. 0 |1. 0 | |   |   |   | |Organization Control Level 1. |   |   | |   |   |   | |Human Skill |0. 9 |0. 7 | |   |   |   | |Employee Satisfaction |0. 8 |0. 8 | |   |   |   | |Public Image |0. 5 |0. 9 | Table IV:The (determined) values of Organizational Control (OC) over Resources We assume these values derive from internal yet consistent studies and valuation, we can see that for the first three (classified as IA over which the entity has complete control) the OC value remain 1. 0. This simply indicates an existence of an IA (completely within the company(s control). The second group of so called (assets( (or generally: resources) are not completely within the control of their respective entity. We can say, perhaps, that the ice cream factory workers need less training than the tobacco production plant workers but that they are equally satisfied. Further it is clear that the tobacco conglomerate has less leverage in their public image (OC = 0. 5) than the ice-cream maker (OC=0. 9). The important point about all these resources is that the entities are not controlling the value drivers. Therefore, for example, their public images is different and it can not be enlisted as an (asset( because it is outside the scope of their respective control. [? ][5] The three sets of resource group can be summarized as follows: The most inner core of assets that are GAAP driven: Tangible Assets that are at the core of the Income Statement and Balance Sheet pair. These assets produce tangible activities such as cash (inflow) or products (output). The intermediate outer tier consists of resources that are fully under the control of the entity, thus they can be classified as Assets, albeit intangible: they too produce activity such as competitive edge (HC) and customer loyalty (SC). In contrast to HC and SC, the outmost tier class of resources are intangible resources that are not fully under the control of the entity thus fail the control test of the definition of an Asset. In a sense, the inner set of Balance Sheet and Income Statement represent the fundamental analysis that an external or internal user of these statement might be interested in. Under this framework, fundamental ratios and projections are available in the most traditional sense. Extrapolating from that tier, the resources described as (true( Intangible Assets, i. e. hat they are measurable resources that occurred in the past and are within the entity(s full control, describe the effect of growth and going concern. Growth is indicative of innovation or competi tive edge, while going concern is more general and encompasses other factors. In this vein it has been shown that IA are a source of both growth and continuity: IA are key to strategic planning and success[? ][xxvi]. Resources such as reputation, employee know-how, and organizational culture were also linked to success factors of companies[? ][xxvii]. Finally, the outer tier of partially controlled resources can be described ( if so wished by the reporting entity ( as additional disclosure of interest to the user of a financial report. The outer tier is only marginally useful because of the lack of full control the reporting entity might have over factors such as public image. It will be interesting to see if the two outer tiers of resources will play out in future disclosure: the FASB is now encouraging companies to discloses elements of intangible assets in their financial reports. However, from a review of the two tiers it seems that disclosing resources in the intermediate tier can add to the reporting utilization of the entity(s financial report, perhaps if it is presented in a two tier Balance Sheet ((padded(, described earlier). Resources that are not within the complete control of the entity (the outer tier(s elements) will most likely not be disclosed. Assuming a valid and consistent index can be obtained   (by an external review, for example), there can be usefulness to disclosing elements of intangible resources which are (true( IA such as index of customer base, customer loyalty and vendors( credit which reflect on a positive (going concern(. In contrast, disclosure of elements such as employee retention, public image and human skill index, can provide external users a marginal utility regarding the activity and prospects of the entity. Conclusion Measurement of IA is the area where the disparity is widest (on the Y axis in this discussion(s three dimensions model). The alternatives to historic cost are valuations based on proprietary models or based on certified models. Both alternatives are insufficient because they require judgement which lead to substantial variation. Historic cost is most consistent but inapplicable because it can not measure certain IA such as customer base or affiliations and alliances. Therefore, an allocation approach is suitable: computing the ratio of growth in equity to fixed, financial and intangible asset allows measurement of IA at least as a class of resources on the balance sheet statement[? ][xxviii]. Further discussion and research is required in order to properly weigh the specific intangible assets within this class, and thus compute the financial value attributed to it. Generally, the emergence of IA and in general, intangible resources, is unavoidable. The accounting profession should treat this type of financial event within its GAAP guidelines and not attempt to preclude it from recognition. Plainly, accounting for IA by including it in the financial statement (specifically, as part of the Balance Sheet) is not helpful to the external user. Such recognition will simply inflate the value of corporations and will cause comparisons to be more difficult and the financial statement viewed more skeptically. However, by methodically presenting IA in a tiered manner, users of the financial statement can view the traditional fundamental (current) GAAP elements as well as supplementary elements. In a sense, allowing companies to literally (pad( their balance sheet with separate IA and IC (Equity due to IA) will put to a (vote( of the external and internal users the concept of systematic disclosure. To wit, instead of a honorable mention in the MDA section or a buried treasure in the footnotes to the financial statement, disclosing IA on the face of the balance sheet, without reducing its existing utility, might be a solution to the emerging need to report IA as a financial event. References [pic] [pic] [1][1]IA are often labeled knowledge assets. Much has been written about a knowledge economy and some attempted to define all resources as knowledge-based. The device in which this is possible is usually illustrated by an example of an organization that can be described all in terms of knowledge. Such zeal is convincing only to the extent that a counter example is not produced. Knowledge is information produced by data and ideas. Transforming knowledge to a benefit producing resource ((value() converts knowledge to an IA. Thus, in terms of scope of valuation of IA, not all business process are considered IA: only business processes that have not been measured or presented elsewhere can be considered measurable for purposes of this discussion. [2][2]In all the instances of Y=0, IA is not recognized except for Goodwill in purchase. [3][3]The recent FASB sponsored attempt to account for certain types of IA by rules of annual impairment valuation (read: appraisal valuation method) is position in box (B( of Table I: using historic cost and a (certified) appraisal of fair value of an IA to trigger both valuation and recognition. 4][4]However, (strange bedfellows( effect might occur if we simply plot the Z axis against, say the Y axis (measurement): the point (Y=0, Z=100) yields an IA that (is not recognized (Y=0)( and (integrated in the financial report( (Z=100). Therefore, at least from a practical point of view, these type of pairing with GAAP (Y=0 and Z=100) can not be used for our analysis: this point in our exploration model is undefined. [5][5]It is the public, the society in which they operate for example, that determines which company is the (Kind American Corporation( and which is the (Evil American Corporation. ( [i][i]. ABI-Inform is available via the Internet from ProQuest Information and Learning Company. [ii][ii]. Accuracy of the yield and direct capitalization methods: A twenty-year empirical study of the electric utility industry(; Assessment Journal Chicago; Richard R Simonds; Vol. 6; No. 4; pp. 49-55 [iii][iii]. Internet: available: www. dictiornary. com. Source of this citation: 1997 Princeton University. [iv][iv]. Internet: available: www. dictionary. com. Citation source: The American Heritage Dictionary of the English Language, 4th Edition. [v][v]. FASB presentation, Nakamura in 4th Annual Intangible Assets Conference, Ross Institute, New York University, May 2001. [vi][ vi]. Financial Accounting Standards Board; Special Report : Business and Financial Reporting, Challenges from the New Economy; Wayne S. Upton, Jr; No. 219-A; April 2001 p. x (Executive Summery). [vii][vii]. Lynn, Bernadette, CMA; Intellectual Capital Key to Value added Success in the Next Millennium; Society of Management Accountants of Canada, CMA Magazine. Available: Internet http://www. cma-canada. org. [viii][viii]. Lynn, Brenadette. [ix][ix]. Data is the superset of information which in turn is the super set of knowledge. Purposeful and formal conversion of data to information and information to knowledge, creates Intangible Capital, which can be leveraged. [x][x]. Berry, John; MIT, Wharton Search for IT Asset Metric; Internetweek; Manhasset; Feb 5, 2001. [xi][xi]. (†¦ Brand assets and patents are knowledge assets, not just technology(. Companies May Be Unwittingly Ignoring The Bulk of Their Asset Value; Investor Relation Business; New York; Dec. 3, 1999; p. 4. [xii][xii]. Hal Varian; How Much Information is Produced Worldwide? University of Berkeley; Presented in the 4th Intangibles Conference at New York University, Stern School of Business, Ross Institute of Accounting Rese arch; May 2001. [xiii][xiii]. Christopher Tucci; The Value of Collaborations and Alliances; New York University; Presented in the 4th Intangibles Conference at New York University, Stern School of Business, Ross Institute of Accounting Research; May 2001. [xiv][xiv]. FASB; Special Report; Chapter 2. [xv][xv]. John Rutledge, You(re a Fool if You Buy into This One; Available: ABIinfrom. [xvi][xvi]. Alfred M. King, Jay M. Henry; Valuing intangible assets through appraisals; Strategic Finance; Vol. 81, No. 5, Montvale; Nov. 1999. pp. 32-37. [xvii][xvii]. Alfred M. King, Jay M. Henry, Strategic Finance, Nov. 1999. [xviii][xviii]. Lawrence C. Rose; Accuracy of Appraisers and Appraisal Methods of Closely Held Companies; Entrepreneurship Theory and Practice (ETP) Vol. 17, No. 3; Spring 1993; pp. 21. [xix][xix]. FASB; Special Report; p. 39 [xx][xx]. Alfred M. King, Jay M. Henry, Strategic Finance, Nov. 1999. [xxi][xxi]. Wiley A. Scott, Jr. ; Borrowers( Intangibles May be Off-Balance-Sheet Gold; Commercial Lending Review Vol. 9, No. 3; Boston; Summer 1994, pp. 26. [xxii][xxii]. Lawrence C. Rose; Accuracy of Appraisers and Appraisal Methods of Closely Held Companies; Entrepreneurship Theory and Practice (ETP) Vol. 17, No. 3; Spring 1993; pp. 21. [xxiii][xxiii]. FASB; Special Report; Chapter 4. [xxiv][xxiv]. Lev, Baruch. [xxv][xxv]. IAS 36 defines (value in use( as (future cash flows expected to arise from the continuing use of an asset. [xxvi][xxvi]. Joseph A. Patrick et al; Global Leadership Skill and How to cite Accounting Treatment of Intangible Assets, Papers

The Main Issues of Jack

Questions: 1. Identify the main issues that Jack needs to consider and provide evidence from the case study to support your answer. 2.Explain how Jack would benefit from applying the rational decision-making process to address the issues identified in Question One. 3. Describe the different resources (e.g. valuable, rare etc.) that are available to Jack and provide evidence from the case study to support your answer. 4.Identify, explain and apply one of the organizational strategy frameworks that Jack might find helpful as he considers the future of Glasshouse Avocados? Answers: (1). Solution: Jack followed the business sense of his father and business numbers were doing pretty well. With the passage of time, Jack sensed that there are number of factors in the external environment which can turn threat in the time ahead. Considering the case study, main issues that Jack need to pay attention are: Cost of Production-Production costs are the expenses that are incurred to get the finished products. A company that knows how much it will cost to produce an item, or produce a service, will have a clearer picture of how to better price the item or service and what will be the total cost to the company. Here the product is avocado and production cost includes cost of irrigation equipment and managing root rot in the plants. It is a general fact that profits are always lower when cost of production is higher and business cannot sell products at very higher price in order to cover the rising cost of production. In growing avocados, there are several others cost involved as well such as planting, pruning, pest management, fertilization, labor and harvesting. There could invisible cost as well such as interest on capital. (Capital taken to invest in business). (Investopedia) Increasing competition- Competition refers to active demand by two or more organisms for the resources which are rare or are in shortage. (merriam-webster).Earlier Jack enjoyed the higher profits in the business as there was not much competition and with his networking skills, he had marketed his business so well following his fathers footsteps. Earlier there were low number of growers and cost of overhead and transport cost was shared among them. With more and more growers in the same line of business and with no more cost sharing concepts, results were not favorable with downward sloping gains and slipping business. Lower Sales- Lack of process is considered as one of the strong reasons of low sales and sales manager is handicapped if process is missed. (Eyesonsales)Two of the crucial things discussed above are the backbone of the business to achieve higher sales .Here in case of Glasshouse Avocados, the cost of production and competition was cut-throat which resulted in sales number down each year. In 2012, sales number were down by 13%, trend continued further 15% sales down in 2013 as compared to sales of 2012 but in 2014, there was slight rise in the sales by 9%. With sales almost down, profits dipped and slowdown definitely tensed the situation for Jacks business. Product Innovation Impact-When new growers stepped in the business, they too had mighty understanding of facts above so new entrants came up with idea of putting avocado in a tube and this helped them to emerge as better performers. They were earning profits in spite of stiff competition and uncertainties. Natural Conditions- Clean water and clean air forms the part of natural environment and have impacts on the business functions. (Small business) With a growing time almost a year, there is less chance of having farms vacant to grow anything in short run. With longer growing season, weather conditions need to be in alignment with plant growth which is not possible all over the year. Variations in climate affect the growth cycle and quantity produced. Moving from streamlined business to exploring options- There is change in the air.(The Hindu business line) With Glasshouse Avocados in troubled times with all discussed reasons, Jack is considering moving to other options such as real state but this move by Jack is in double minds. He doesnt want to move but seems nothing else is working. (2). Solution: Business decisions are high risk decisions because the outcome of the decision have impact on several spheres of the business. Rational word simply mean to be logical. Rational decision making process refers to multi-step and formal process of analyzing various options available and choosing the best alternative by applying logic and objectivity. The model of rational decision making can be useful for to manage the issues and reach out to possible solutions. Rational decision making if applied well in current scenarios of Jacks business could result to bring him back in activity and profit numbers may expect positive change. (Happy manager) Steps involved in rational decision making in respect to case study: Define Problem- Lower sales profits Goals of the business-To grow revenue and beat the competition Developing alternative solutions-Concentration on custard apple and passion fruit. Evaluation- Compare cost of production, time period and revenue estimates Selection of best solution- Choose the best to achieve the target. Detail description and analysis of the various steps involved in rational decision making process in context with case: Define the problem- In the first part it is well explained the issues faced by Glasshouse Avocados. Lower sales, dipping revenue and competition creating downstream atmosphere are the major issues troubling Glasshouse in present times. The core reason of dipping profits are the dipping sales and sales are down because of the advanced and modern competitors who gained edge over Glasshouse Avocados. Intuitiveandrationaldecision making are the two ways that an individual can approach problem solving. (Study, Ch.-9) Goals of the business The primary goal of any business is to create economic value i.e. maximize profits. Glasshouse Avocados aims to regain its market share by growing its lost sales. The milestone is also to gain long term stability in terms of production and sales.(Boundless) Developing alternative solutions- Since two of the fruits custard apple and passion fruit are the good lead to grow sales because other competitors have their attentions only on avocados. This opportunity can also be utilized to divert other growers attention and avocados could also be taken in consideration. Elias being a marketing expert have few better ideas that deserves attention. His ideas to integrate processing facilities and develop new supply chain initiatives are worth risk taking. By innovative and attractive packaging of tube avocados, Glasshouse can offer quality and substitute products in supermarkets. Further local growers can also be brought in partnership and business could be expanded. Evaluation-Elias idea have more weightage in terms of success rate. Yes, it involves investment but keeping long profits and sales would too matter. Custard apple and passion fruit could be secondary option as Jack considers avocados to be in plenty numbers and yield good profits. Jack have hopes to revive his business and Elias idea somewhere outshines the other in various criterias such as cost involved, estimated earnings and so on. On contrary, if Jack applies idea of custard apple or passion fruit, others growers may start selling identical products and there may again arise situations as currently prevailing. Evaluation is brief terms is the systematic assessment of the merit of something. (Social research) Selection of the best alternative-Number of ideas are evaluated on various parameters and the best idea is chosen which have pros and can help to revive the business out of the downtime period. In the real world we tend to choose solutions that are reasonable or acceptable instead of the optimal one. So it's important to keep these steps in mind when making hard decisions. (LinkedIn) (3). Solution.-Resources can be in the form of tangible resources or human intelligence or environmental factors. Fixed asset are the valuable resources of any organization. Resource can be a stock or supply of money or staff that can be drawn by organization to function effectively. Jack have access to number of resources that could actually turn out to be profitable assets of the business. The land area of 8o hectares is valuable resource to Jack and this could also be utilized in current business of avocados and other utility is that he have real estate option open to go ahead with constructions of residential or office space to sell or lease out. It will give access to funds in abundance. (Business dictionary) Jacks daughter and son possess good business acumen and they understand the current ups and downs of the business very sensibly .The way Jacks daughter Jacqui look at all the factors , their alternatives , cost reduction and decision making skill is very valuable to Jacks business. His son Elias is very creative and have ideas of expanding business in the same products or diversify the product line. Jack being very successful in his venture holds finest reputation and aware of local zones can easily set up his hands in new ventures as well. Goodwill of the Glasshouse avocados is asset for Jack and its good time to reap up the fruits. (4). Solution: In providing solution to the above questions, there has been already good use of strategic model of SWOT analysis where we have discussed and analyzed the strength and weakness of Glasshouse Avocados and also available opportunities and threats. Strong belief is that to have shining future of business, Jack could make the best use of The McKinsey 7-S Framework. This model approaches both internal and external factors and can be used in wide variety of situations. Mckinseys 7 elements are classified into Hard elements and Soft elements. (MindTools) Hard elements are easy to recognize and management have direct influence on them. Soft elements are affected by culture of the organization and perhaps are tough to be identified early. We will look at each element and co-relate it to fit in Jacks business venture. Strategy- It means to have competitive edge over your competitors by selling goods or services that are unique in some or the other way. Glasshouse avocados have ideas to expand business line by selling tube avocados and enabling customers to eat avocados more effectively. (MindTools) Structure- It defines the reporting relationship in the organizations. (MindTools) Glasshouse avocados have plans to add on growers of avocados with them to reduce the overhead costs of small growers and reporting needs to be clear when working professionals grow in numbers. Systems-It defines the processes followed from start till finalization of the product. (MindTools) Glasshouse avocados have set processes and putting them in order with intellectual workers will help in cost saving and thus, profit will increase. Shared Values- It refers to work culture of the organizations and ethics it believes in. (MindTools) From the Errors time, work ethics remained strong and this definitely serves value in the organization. Style- style of leadership in the organization. Glasshouse avocados should have Laissez Faire style of leadership to deal with market conditions. (MindTools) Staff-the human workforce. Glasshouse avocados needs to hire more people if they are with the plan of expanding their business line. People hired must be capable to handle ups and downs of the business and manage the client base. (MindTools) Skill- As marked above, competency of the employees is crucial for the success of the organizations. At Glasshouse avocados, management starting from Errol to his grandson and daughter have tremendous strength to grow their business and hire skilled people to lead Glasshouse avocados. References: Production cost. (n.d). In Investopedia. Retrieved June 1, 2016, Rational decision making model. (n.d.).In Happy-manager. Retrieved June 1, 2016, The Rational Decision Making Model: Steps and Purpose in Organizations. (n.d). In Study. Retrieved June 1, 2016, 6 Steps in the Rational Decision-Making Model. (2015, Sept.10). In Linkedin. Retrieved June 1, 2016, The McKinsey 7-S Framework. (n.d). In Retrieved June 1, 2016, (n.d).In Business dictionary. Retrieved June 1, 2016.

National security is used for ... free essay sample

National security is used for trade protectionist policies since the industries involved include defense-related companies, high-tech firms, and food producers. It is the responsibility of a nations government to protect its land and citizens from outside threats and hence government intervention in trade is the protection of national security (Obama, 2010). Industries such as aerospace, advanced electronics, and semi-conductors are vital components of national defense policy and that relying on foreign manufacturers would seriously affect a nations defense in time of war. By having manufacturing for defense items protected from foreign competition, trade protectionism is necessary for a nations existence. CybersecurityThe mission of defense and national security agencies requires that they be ready to meet the dynamic challenges of today and the emerging threats of tomorrow. As technological advances, many of our current and emerging threats involve computer networks and new technol ogies like unmanned aerial systems (Raghavan ; Parthiban, 2014). The rapidly changes and keeping up with these changes will be one of our nations biggest defense and national security challenges. We will write a custom essay sample on National security is used for or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page An example would be the cyberattack on Sony Pictures resulting in the loss of some of the companys prime assets and early version of a script of the new movie including Sonys private company information has apparently been exposed to the public, including bosses salaries and employees social security information (Cieply, 2017). This incident caused the company to delay in launching the movie and reputation damage.Cybercrimes on banks can have impact on the nation economy and reputational damage across the globe (Burden, 2018). The U.S government hence had signed an executive order aim is to strengthen the cyber security of the federal networks and critical infrastructures and the order focus is to address the cyber concerns. The cyberattack against the Central Bank of Bangladesh in 2016 resulted $81million was stolen. To fight these cybercrimes, the banking sector needs to collaborate with global authorities to develop strategies which can help in controlling imperative to increase cooperation among the banks across the world to counter global banking cybercrimes.ConclusionProtectionism and free trade policies were replaced to correspond to a certain economic situation in the world. Policies were introduced to support domestic economies and employment. Such moves might bring upon a chain reaction of protectionism that makes the economic slowdown even worse and end up in trade wars. One countrys protection will not just hurt partner-country exports. Sooner or later, the formers exports will be affected as well. Therefore, the nation should avoid adopting protective measures separately, as free trade is seen to be the only solution to crisis by stimulating future growth and creating jobs in the future (Hilton, 2017).

Recycling Old Paper to Make Beautiful Handmade Paper

Recycling Old Paper to Make Beautiful Handmade Paper You can make paper from recycled scraps of just about any paper  you can find. By adding decorative items, such as petals, you can create beautiful personalized stationary. This is a fun craft that teaches about recycling while making a useful handmade product. Types of Paper You Can Recycle You can use pretty much any type of paper product for this project, but steer clear of waxed cardboard.   Construction paperPrinter paperMagazinesToilet paperPaper towelsPaper bagsNewspapers (will produce a grayish paper)CardstockNon-waxed cardboardNapkins Decorations There are many materials you can add to the paper for a decorative effect. You may wish to add flower or vegetable seeds to the paper, which can be planted. Flower petalsSeedsFine leaves or grassFoilString or yarnDryer lintFood coloring (for dyeing your paper)Liquid starch (to make your paper less-absorbent so that you can write on it with ink) Build a Frame While you can pulp your paper and make a rough product just by pouring it out and allowing it to dry, you can also form your paper into a rectangular sheet if you use a frame. You can make a frame by duct-taping an old piece of window screen onto a small rectangular picture frame. You could also staple the screening onto the frame to make the mold. Another option is to bend a wire coat hanger into a shape and slip old pantyhose around it to act as a screen. Make Your Own Paper You are going to pulp the old paper together with water, spread it out, and allow it to dry. Its that simple! Tear the paper (feel free to mix different types) into small bits and put it into a blender.Fill the blender about 2/3 full with warm water.Pulse the blender until the pulp is smooth. If you are going to write on the paper, blend in 2 teaspoons of liquid starch.Set your mold in a shallow basin or pan. You can  use a cookie sheet or a sink. Pour the blended mixture into the mold. Sprinkle in your mix-ins (thread, flower petals, etc.). Shake the mold from side to side, keeping it in the liquid, to level out your paper pulp mixture.You have few different options to absorb the excess water. You could remove the mold from the liquid, let the paper dry in the mold, without absorbing the liquid. You can also flip the paper  paper out onto your countertop and use a sponge to wick away excess water or you could press a cookie sheet onto the paper to squeeze out the excess liquid.

An Overview Of Life Satisfaction Literatures Social Work Essay

An Overview Of Life Satisfaction Literatures Social Work Essay This chapter begins with literatures about life satisfaction and important personal and situational predictors of life satisfaction in older persons, then in order to provide a theoretical background for this study attempt to define the most important components of structural and functional support. The next portion will focus on the ways in which significant personal and situational characteristics might affect on structural and functional components. The focus will then shift to the effect of structural and functional components specifically on life satisfaction. And finally specific theories and models that have been proposed to explain the role of structural and functional components in the life satisfaction of older adults will be addressed. Over the past few years, the world’s population has continued on its remarkable transition from a state of high birth and death rates to one characterized by low birth and death rates. At the heart of this transition has been the gro wth in the number and proportion of older persons. Such a rapid, large, and ubiquitous growth has never been seen in the history of civilization (Norman mood, happiness, life satisfaction, and morale. Factors such as morale, life satisfaction and happiness are considered to be important in determining subjective well-being in the elderly (Kim, Hisata, Kai, and second as an internal and subjective perception, the individuals’ evaluation of their lives, the second approach is now more widely used (Miller, 1997). Life satisfaction is a very personal assessment, one must decide one’s own life satisfaction criteria. Two individuals may share very similar lives, and one may find life satisfactory and the other may not (Quadhamer, 1999). Havighurst proposed that measuring life satisfaction as an â€Å"inner† assessment was a better measure of successful aging. Such a measure would accommodate individual differences in conceptions and values of growing older. Specific ally, the individual whose personality most values an active life style could be as satisfied with his life as one who is more passive (Havighurst, 1961).

Humanistic Era Reflection paper Research Example | Topics and Well Written Essays - 1000 words

Humanistic Era Reflection - Research Paper Example The ‘20s was a booming economic time. Employees had been pushed during The Classical Era to focus on meeting production demands and maximizing their efforts. The scientific methods were in place and the human element in the workplace was secondary. Management did not care how the worker was feeling at the end of the day. There were no regulations on the length of a work day or the number of breaks employees were entitled to. The company could demand and get whatever it wanted from the workers at that time, if that person wanted a job. Then the stock market crash came, followed by the Great Depression, and World War II. The employee was feeling very much at the employers’ mercy while at the same time dealing with the ups and downs of economic times. Pro-union legislation was put in place during The Humanistic Era, much as we know it today. The concept of the social person (a human existing within an organization as a person and a worker) and the relations between workers and managers did not exist prior to The Humanistic Era theorists. ... As the historical frame took place, leading from the scientific methods of measurement and driving the worker to be most productive, the worker became burdened with long work days and thoughtless management decisions. Theorists believed that workers needed more than simply a day’s pay to stay motivated to do more (McShane & Von Glinow, 2005). From a certain perspective, it is surprising that union legislation was instituted during this time in history as it doesn’t seem to fit with The Humanistic Era. Unions represent the group rather the individual person. However, as union representatives learned early on, a group of employees had more power with management than did one lone employee. Laws such as the Taft-Hartley Act (Labor-Management Relations Act) and The Wagner Act (National Labor Relations Act) (Noe et al., 2003) were part of the pro-union legislation that came to be during this era. The Wagner Act was put in place first, 1935, establishing the National Labor Rel ations Board (NLRB) and the general guidelines that continue to be used today in unionizing activities. Taft-Hartley Act (1947), was an amendment to The Wagner Act. This amendment allowed workers to report to work without being required to join the union. Simply put, The Wagner Act established the allowance for â€Å"right-to-work laws†. Some states have these laws and some do not. By law, all members in the jobs covered by the bargaining unit have to be covered by the same benefits, pay, and policies whether they are dues paying or not. This Amendment was passed to prevent coercion with those unsure as to whether they wanted to be part of a union. Mary Parker Follett published in 1924, the management theory that would â€Å"facilitate the growth of individuals and the

Sacred Power Essay Example | Topics and Well Written Essays - 250 words

Sacred Power - Essay Example He wanted to know what he believed. On the other hand, Laozi asserts that the most significant thing people can do in life is to have a state of quiet awareness. Become fully empty, quiet the mind’s restlessness only then will you witness all things unfolding from emptiness, witness all things flourish as well as dance in continuous variation. Laozi believes that Dao is the only source of sacred power (Snodgrass, 2009). The influence of the Laozi goes beyond China, as Daoism gets across Asia and in the contemporary period, the Western humanity. In Taiwan, Hong Kong, as well as amidst the Chinese in and beyond Southeast Asia, Daoism is an existing tradition (Snodgrass, 2009). Daoist practices and beliefs have played a role also in the formation of Japanese and of Korean culture, even though here the process of cultural transmission, assimilation, and transformation is very intricate, mainly given the close relations between Buddhism, Daoism, and indigenous traditions like

Movie review on Kingdom of Heaven (2005) Essay Example for Free

Movie review on Kingdom of Heaven (2005) Essay Though the movie can be considered to be masterful and superior as far as the visual and technical factors are concerned, the Kingdom of Heaven (2005) becomes a less outstanding epic film since there is a great alteration on the focus of the central theme of the story. Screenwriter William Monahan writes well about the story but Ridley Scott seems to become more interested in searching and probing the evils of religion rather than making a medieval epic. The fighting scenes are even mechanical. Leading actor Orlando Bloom, furthermore, though he has fine screen presence, inadequately assumes his role since his performance was monochromatic and subdued compared to the other leading actors of the different epic films. Aside from his not totally outstanding performance, Bloom seems to sound like the character in the Lord of the Rings. It seems that the dialogues of the main character are just stolen or adopted from the other movie (The Internet Movie Database 2010). Nevertheless, the movie is not a total frustration to the audience since the movie has undeniably almost perfect visual and technical factors. The portrayal of the medieval France and the city of Jerusalem was considered to be a brilliant technical accomplishment. Other characters such as Balian’s father (Liam Neeson), Tiberias (Jeremy Irons) and the king (Edward Norton) were successful in assuming their roles. They indeed portrayed an authentic characterization for a medieval knight. In total, the movie is worth watching if and only if it entails originality, focus on the theme, and some polishing on the characterizations of the characters. References The Internet Movie Database (2010). Kingdom of Heaven. Retrieved August 1, 2010, from http://www. imdb. com/title/tt0320661/plotsummary.

Frankenstein essay :: English Literature

Frankenstein essay The monster is called such because of his appearance; Frankenstein could be judged a monster because of his actions. Who do you think is most monstrous and why? Support your opinion with references to Shelly’s book, Pullmans play and any other interpretations you have seen. To answer this question we must first define the term monster. There are many ways a person can be a monster. If someone does not look good they are defined as a monster, if someone kills people they are defined as a monster, and if their beliefs are different to ours we also call them a monster. Keeping all this in mind it is very hard to label someone or something a monster, but in this essay I will try to describe who is more monstrous- the creator Frankenstein or his creation the monster. Frankenstein could be called a monster because he is trying to play god. He created the monster from the bodies of the dead so this makes him a monster because he will be causing masses of emotional pain to the relatives of the dead. However this could also be a strong proof of his humanity because his experiments show the curious nature that is in every human; he has just taken it one step further and decided to act on his curiosity. Atheist’s who don’t believe in life after death could even call him good hearted because he is recycling! Another reason for Frankenstein being monstrous is that he decided to try and play god a second time when he wanted to create the monster a bride. However this was done at the monsters request so it could be argued that this shows the humane side of Frankenstein because it shows compassion for others. He realized the monster was lonely so decided to create him a companion. The monster could be called more monstrous than Frankenstein because of two reasons. One he looks like a monster and as he is made from the rotting flesh of dead he probably smells like one too. The second reason is because he kills innocent people; this is portrayed in all versions of the story that I have seen/read so far. Pullmans play explains the murder by saying it was a revenge act against Frankenstein who in abandoning him caused him lots of emotional pain. The monster wanted to see him hurt. Most versions of the story agree with this view but brook’s version explains the murder of the child as an experiment. The monster had seen flowers can float so wanted to see if humans could float as well.

Explain why women failed to gain the right to vote between 1900 and 1914?

At the beginning of the twentieth century British women were seen as second-class citizens. This started to change in 1900, as women desired the right to vote and they were prepared to do anything it required to obtain it. Their goal was prolonged because of the many hurdles along the way and they didn't get the vote for many years. Many of the hurdles they faced were cultural. It was believed that women couldn't have their own views; they would only do as their husbands told them. Most people thought that women couldn't make political decisions as they weren't intelligent enough and they shouldn't because politics was ‘a man's game'. Another cultural barrier was the roles women played in the society. One on hand, due to poor education and limited opportunities working-class women had low status, low paid jobs. They had long working hours and didn't have sufficient time to get involved in the struggle for the vote. On the other hand, most middle and upper-class women felt that their duty was at home, and didn't want to get implicated. A reason why women didn't get the vote was ‘their own fault'. The women who wanted the vote were united in their aim but divided in approach. The main women's society groups had very different methods of getting what they wanted. Most people thought that if the women couldn't agree then perhaps they didn't deserve the vote. The Suffragists were a peaceful group who believed that protests should be carried out without violence. They thought that the vote would come in due time, after all New Zealand had already given the vote to women who had used their techniques. The second group, the Women's Freedom League accepted breaking the law as long as protests didn't become violent. A protest they organised was refusing to participate in a census. The final group, the Suffragettes, believed in law breaking and violent protests. An infamous protest they organised was when all members produced bricks and hammers from their handbags and broke windows in Oxford Street. It is often said that the Suffragettes were a main obstacle in getting the vote as the government refused to be perceived as succumbing to violence. Many other hurdles in the path of success were the political situations. The conservative government came into power in 1900 and this was a major setback for the women's suffrage movement. This government was steadfast in its conviction that women should never get the vote. 1906 saw the liberal government come into power as the conservatives became old-fashioned. The contemporary government was in favour of women getting the vote but was reluctant to make this possible in case upper-class women voted conservative. There were more pressing political issues to resolve than the issue of women's suffrage. The arms race with Germany was at its peak from 1908-1911 and the government had to make sure that Britain stayed ahead. The state of affairs in Ireland was a main concern; Ireland was on the rink of civil war. The government was in the process of laying down the foundations of the welfare state, this included benefits like old age pensions and national insurance. The House of Lords could block any laws that it did not want, this needed to be changed before women's vote bill was put through as the conservative majority would veto it. In the 1911 Parliament Act the House of Lord's blocking power was stopped and they were permitted to delay laws by a maximum of two years. The House of Lords still managed to use the new law to their advantage and managed to delay the votes for women bill from 1912 to 1914. In conclusion, there were many factors preventing women from getting the vote whether political or cultural. The most influential factors were the political as they prolonged the struggle for the vote for many years. But even though the political reasons were the most important, no individual factor could have caused women to abstain from receiving the vote without the others. Explain why women failed to gain the right to vote between 1900 and 1914 Women was trying to get the vote many years before 1900. At this period of time women lived in a male dominated society. It was thought by the men that, women would vote for who their friends were voting for, and vote for irelivent issues. Many thought that women didn't have a political mind to vote. Also many men thought there wasn't enough women to vote to make a difference to the result. Rich men could influence the female family members into voting in the way of their opinion. They got more votes than normal people. The law had been changing slowly, in womens favour. The law kept changing, until women could own their own property. But only if the women where married. After 1900, there was a more active period of campaigning by the National Union of Women's Sufferage Societies. These societies were created by Millicent Fawcett in 1887. Many women wanted action earlier than later, so the suffragette movement was born. Also with the formation of the Women's Social and Political Union (WSPU) by Emmeline Pankhurst, and her two daughters Christabel and Sylvia. These women was not happy with the cautious approach that the National Union took. Women protests didn't change anything. Some politics had changed in women's favour, but this was nothing major. The protests never changed the goverments mind. As the goverment did nothing the suffergettes started using criminal acts as sign of protest. This started as petty as breaking windows, then got serious as arson and creating explosions. Herbert Asquith, the current prime minister at that time wasn't a supporter of women getting the vote. He said that â€Å"I do not think you will bring this change about until you have satisfied the country that the majority of women are in favour of it†. His position made a difference as whatever he said went. To prevent a the law going through, he called a general election. So whatever the suffragettes did had go through the goverment again. The acts of the suffergettes were peaceful. Many of them being of criminal nature. Emily davison, being one of the most famous sufferegettes, by throwing herself under the king's horse at the derby, in 1913. She died four days later. Many of the criminal acts were ploted at meetings through out the country. When some of the sufferegettes were sent to prison, they went on hunger strike. So they where able to be released from prison. Eventhough in some prisons many wome where subjected to torture, through force feeding. The women had no other ideas to get the vote. None of the acedemic writings had not worked for 150 years. This changed at the outbreak of world war one. Many women had to work, and they showed patratism for their country. These were dramatic changes in the attitudes and rights by 1918.

Cpr Speech

Justine Capps July 23, 2012 SPCH 1315 – Patton How to Perform CPR General Purpose: To inform Specific Purpose:At the end of this speech, the audience will know how perform CPR. Central Idea:To perform CPR, you will check the scene for danger, send for help, and then begin chest compressions. I. INTRODUCTION: A. Attention Material 1. Has anyone ever wondered what they would do if somebody they knew had stopped breathing or heart had stopped? If so, you can restore circulation and oxygen to that person's' body by performing CPR. . Performing CPR can save a person's life. A person can live 4 to 6 minutes once they have stopped breathing and/or their heart has stopped breathing. Performing CPR canresuscitate that person. B. Orientating Material 1. CPR can restore resposiveness in a person who haslost resposiveness. C. Preview: Using 6 steps, almost anybody can perform CPR during an emergency. (Transition: Let's start with the first step of CPR. ) II. Body A. The first step of CPR is to make sure the scene is safe. 1.If it is not safe, for example, if there is a fire, extinguish the firethen begin CPR. 2. If you can not secure the victim, then move the victim. (Transition: Once you and the victim are secure, you are ready to begin the second step of CPR. ) B. The second step of CPR is to assess the victim's conciousness. 1. Tap his/her shoulder and ask, â€Å"Are you OK? † if the victim responds, CPR is not required. (Transition: If the victim does not respond continue with the third step of CPR. ) C. Send for somebody to call 911.If nobody else is available call 911. 1. Give your location and inform the dispatcher that you are going to perform CPR. (Transition: After sending for help, you will begin the fourth step of CPR. ) D. Next, you will check for breathing. 1. Put your ear close to the victim's mouth, and listen for breathing, if the victim is breathing do not continue with CPR. (Transition: If the victim is not breathing, continue with the next step. ) E. The fifth step of CPR is to perform 30 chest compressions. 1.Place the victim on his/her back. Make sure they are lying flat toprevent injury. 2. Place the heel of one had on the victim's breastbone, between the nipples. 3. Place your other hand on top of the first, palm down. 4. Postition yourself directly over your hands, so your arms are straight. 5. Press down by about 2 inches in a fast rhythm. (Transition: After performing 30 chest compressions, you will begin the last step. ) F. Immediately after performing 30 chest compressions you will give two rescue breaths. 1.Tilt the victim's head back to open the airway. 2. Keep the airway open, pinch the victim's nose closed. 3. Make a seal with your mouth over the victim's mouth and breathe out slowly for about one second. III. CONCLUSION A. Summary: You have now learned how to perform CPR. Whenever somebody has lost consciousness, you can now possibly save their life. B. Wrap up: Always continue CPR until emergency perso nnel arrive with an AED. C. You can obtain a Heartsaver CPR Certification through the American Heart Association.