Essay --

Iran, India, and Mexico are in extremely different parts of the world, making them in truth different from separately opposite. The three countries have different histories, geographies, and natural resources that have shaped their development. Still, an analysis of Irans, Indias, and Mexicos economic development and globalization, media access and coverage, and policy-making leaders, shows that thither are some undeniable similarities. Despite the three countries being similar in some ways, overall Iran, India, and Mexico are extremely different from each other each country has a different historical background that has shaped it to be what it is today economically, socially, and politically. I.Economic Development and GlobalizationIran In Iran, the economy relies on oil for much of the governments revenue. Overall in Iran, the democracy has a very ineffective state sector, with statist policies that control much of what is economic policy. This creates a lot of economic issues, causing Irans economy to rely on oil. There is not much of a private sector in Iran in any event small workshops, farming, and some manufacturing. The governments price controls and subsidies often hinder private sector growth. In Iran, there is a good amount of knowledgeable economic exchange outside of government regulation, as well as corruption. In the early 1990s Irans government realized they needed to rectify many factors of the economy. One major law created to improve the economy was President Mahmud Ahmadi-Nejads Targeted Subsidies Law. The Majles, Irans national legislative body, passed this law in 2010 to reduce state subsidies on food and energy. Over a period of five years, Irans legislatures worked to remove subsidies from the economy that were very ... ... be said for Iran and India. Mr. Singh, like many of the political elite in Mexico, is highly educated. Although Iran, India, and Mexico are similar in some ways economically, socially, and politically, for th e most part they are very different. Irans economy relies on oil, while Indias economy is more services-oriented. Still, Mexicos economy is similar to Indiasboth having significant private sectors. Also, Iran, India, and Mexico are similar in that each country has a state-run television broadcasting. However, Irans government is clearly the most strict with what its citizens can view and Mexico is less strict and has more broadcasting companies. Iran is to a fault different from India and Mexico because Iran has a theocratic ruler, Ayatollah Ali Khamenei, whereas the other two countries do not. Overall, these countries are very different from each other.

war :: essays research papers

The cries of joy were deafening as nation gathered in the streets. People ran around hugging and kissing strangers. In a sense, the news was totally unexpected. Japan had just surrendered. VJ Day, as it is now called, produced great celebration. Everyone was relieved that we would not have to endure a bloody impact of Japan. We would not have to sacrifice 200,000 more men to end the war.During the war, millions of lives were put on hold. Now that the war is over, people could start living their lives again. "The misery is slowly us," they would say. "We have won the war." In reality, though, there are no winners in war only losers. Even the "winners" are actually losers. Both sides in each conflict suffer losses. The question is not who won the most, but who lost the least.The "winners" of WWII suffered staggering losses. Even the U.S., which did not have its own homeland ravaged by the war, suffered great losses. Besides the $360 billion price ta g ($3,578 billion in todays dollars), there were 292,131 Americans killed (not to mention the 115,185 "non-battle deaths"). There were also 670,846 Americans wounded. This, of course, does not take over into account the emotional toll of shattered lives and marriages.Yes, we "won" because we survived the war declared on us by Japan and Germany. Yes, we "won" because we saved the world from plummeting into a very dark and desperate era. Yes, we "won" because we saved over 100 million people from certain death and several hundred million people from oppression and torture. If Japan and Germany had not been defeated, the losses to America (and the rest of the world) would have been far more substantial. So, in comparison, we did "win."Dont get me wrong Im not an anti-war protestor. I feel there is a definite need for a strong national defense. I feel it is important for our dry land to be able to defend herself. I also believe that there is the unfortunate need for the U.S. to defend the oppressed and defenseless of the world. Although I dont like the U.S. being the guardian of the world, there is a moral obligation to protect the defenseless when there is wholesale genocide and torture taking place. Of course, chronicle has shown us there is a right way and a wrong way to intervene in foreign problems.The reason I bring this up is because we all have our own private "wars.

Brown vs. Board of Education Art Exhibit :: Art Museum Exhibit Race Segregation

One of Arts MessagesWhen I first walked into the Krannert Art Museum, I had no idea where to begin sightedness that this was my first visit to the museum. So I asked a man who worked there to point me in the general direction of the exhibit known as ogdoad Artists Address Brown v. Board of Education. The man gave me directions, and showed me into the section for the exhibit. I walked into two small rooms, which I thought was a little small for the work of octonary artists. Despite the size, I had no idea where to start. So I took a quick look around the exhibit, which was empty except for the security guard who, upon my arrival, jumped up from his shoes. Throughout my time at the museum, this guard was constantly checking me, like a hawk waiting for its prey to make a move before flood tide in for the kill, as if I were going to do anything other than look at the exhibits. His evil gaze was a little unnerving, however, I persisted in my work. In order to decide where to start, I spun around in a circle, coming to a stop at Pamel Vander Zwans and Carrie Mae Weems work on Plessy v. Ferguson. This was a serial publication of five photographs in black and white featuring Zwan and Weems, one black and the other white, fighting over a chair in the middle of a chequered black and white room. It did not matter which picture started the series, because the two on the ends were the same picture. If going in a linear order, depending on where you started, the second and quarter pictures showed the two women struggling for the chair with the white women having the upper-hand, and the black women trying to take the chair away. Which ever direction you took, the pictures always ended the same way, with each women prickle where they started. It was at this point that I found a little book that describes each exhibit, which helped me to understand the pictures. Not knowing the background behind Plessy v. Ferguson, the struggle for the seat didnt make much sense. The history is written saying that Homer Plessy was a black man who sat in the white man moreover car of a train, quite a rebellious feat for his time.

short story run :: essays research papers

He doesnt sleep for more than than a few hours. He doesnt know why it is, just that he has never been able to let the night take him. The house isnt big enough to proceed his thoughts. Everyday its on his mind. The pain only comes when he tries to rest. He tries filling his meter with activities to make himself better. Three a.m. is when he starts running. Its the best time to go for a run, no one to bug him when he leaves.The house sleeps. He opens the door so the house stays asleep. He likes to run its the only thing that keeps him going. He tightens his shoes and takes the time to stretch. The chill of the night starts his journey. He runs blind no set path, he just picks a bursting charge and goes. He goes down the road and through the park up the hill and past the school. The road becomes dirt and the houses become corn. The lights of the city are nothing more than a long shadow. Nothing more than the thought of what he is trying to forget. He searches for nothing and doesn t look back he forgets the path he took and moves on. Here the world is a place for him to discover, for him to be himself and he doesnt worry about a thing. The pain doesnt make a strong out here, away from everything. He stops. The wind cools his sweat. He sits and watches the stars disappear. He forgets where he is and lets the peace of nothing come upon him. Other runners come by and decide to touch base him in the grass nearby. He welcomes them with a peaceful smile. They watch him and wonder what he is doing. With a mouthful of grass, they continue to make sure that he go forth not hurt them. With white tails high they continue their run, and he decides that he has rested long enough. The night air changes, and it becomes damp. Clouds cover the moon and he knows what is coming. The first drop hits his nose and the second lands on his chest. The drops start small, but in a matter of minutes they become the size of gumdrops. He doesnt care because he knows there is nothing he can do about it. Without the moons light, the night become very black.

Islam Essay -- essays research papers

The rectitude, defined as the body of rules and principles governing the affairs of a community and enforced by a political authority, is an important facet of any community. It provides guidelines for those in the community to follow so that they may have the most peaceful and problem- allay life. Islam takes this notion of peace and obedience and applies to everyday living for the members of its community. Islam law is of great importance to the Muslim community because it provides specific courses of action for living and also supplies mechanisms for considering how to grip with situations that are not discussed in the law. Islam law covers all aspects of life it has its own personal, moral, civil, ethical, societal, and criminal law. All these laws come from God by dint of revelations that are sent through His angel, Gabriel to the Prophet, Muhammad. The laws have been transmitted over time to the people of Islam in the two forms the direct word from Allah, namely the Quran and the teachings of the Prophet, the sunnahs. The primary source of Islamic law which is the foundation of every Muslims faith and practice is the Quran. The Quran deals with all subjects that concern humankind, mainly the birth between God and humankind and how this relationship relates to the guidelines that are required to be followed by all Muslims. Within the Quran are not only instructions of how an individual must conduct his or herself but there are also principles relating to all aspects of...

Islam Essay -- essays research papers

The law, defined as the body of rules and principles governing the affairs of a community and enforced by a political authority, is an important panorama of any community. It provides guidelines for those in the community to follow so that they may have the most peaceful and problem- free life. Islam takes this notion of peace and obedience and applies to everyday nutriment for the members of its community. Islam law is of great importance to the Muslim community because it provides specific courses of action for living and also supplies mechanisms for considering how to deal with situations that are not discussed in the law. Islam law covers in alone aspects of life it has its own personal, moral, civil, ethical, societal, and criminal law. All these laws come from God through revelations that are sent through His angel, Gabriel to the Prophet, Muhammad. The laws have been transmitted over time to the plurality of Islam in the two forms the direct word from Allah, namely the Q uran and the teachings of the Prophet, the sunnahs. The primary source of Islamic law which is the foundation of every Muslims doctrine and practice is the Quran. The Quran deals with all(a) subjects that concern humankind, mainly the relationship between God and humankind and how this relationship relates to the guidelines that are required to be followed by all Muslims. Within the Quran are not only instructions of how an individual must conduct his or herself but there are also principles relating to all aspects of...

Issues in special education Essay

Legal disputes between parents and school officials can be very costly. The cost is not only in dollars. It withal involves costs in terms of the diversion of resources, the toll on school personnel, and, most importantly, the breakdown in the relationship between the parents and the school. The crush way to deal with a legal dispute is to prevent it from occurring in the first place. In 1975 Congress passed landmark legislation designed to provide the terra firmas disciples with disabilities with unprecedented access to educational services.Origin eithery known as the Education for All Handicapped Children Act (1975), that legislation is now known by its new title, the Individuals with Disabilities Education Act (1997). The statute, as amended, calls for school regularises to provide students with disabilities with an appropriate education in the least restrictive environment. The law also provides students with disabilities and their parents with due puzzle out rights, inclu ding the right to contest school dominion decisions regarding the provision of a free appropriate public education.Consequently, since the enactment of the law in 1975, literally thousands of lawsuits have been filed gainsay school district decisions. The IDEA is not the only law governing surplus education in the schools. In addition, section 504 of the Rehabilitation Act and the adenosine deaminase provide students with disabilities with additional protections. Section 504 prohibits discrimination against individuals with disabilities by recipients of federal funds. The ADA expands section 504s discrimination prohibition to the private sector, but includes provisions relevant to public entities.In addition, all states currently have laws governing the provision of special education. Procedural issues Evaluation and Classification The IDEA requires states, and consequently school districts, to pull in procedures to assure that all students with disabilities are properly identi fied and evaluated (IDEA, 1412, a, 2, 1997). Those procedures, along with the test instruments chosen, may not be culturally or racially biased. In fact, students whose oral communication or mode of communication is not English, must be evaluated in their native language or usual mode of communication (IDEA, 1414, b, 3, 1997).The IDEA stipulates that all assessments are to be administered by trained personnel in conformance with the instructions provided by the test producer (IDEA, 1414, b, 2, 1997). If a student is found to be eligible for special education, the school district is inevitable to develop an individualized education program (IEP) for that child, but the IEP can be vitiated if it is based on a flawed evaluation of the child (Bonadonna v. Cooperman, 1985). The student is entitled to an independent evaluation if the parents disagree with the school districts evaluation.However, the school district is required to pay for the independent evaluation only if the parent s can show that the districts evaluation was not appropriate. If the parents do obtain an independent evaluation, the school district must consider the results of that evaluation (Assistance to the States, 300. 503, 1999). However, that does not mean that the school district must adopt the recommendations of the independent evaluator (G. D. v. Westmoreland School District, 1991). Rights of Parents and GuardiansParents are given bulky due process rights on behalf of their children in the special education process. The intent of the IDEAis for them to become partners with school district personnel in the development of IEPs. The school district must provide the parents with proper notice before it proposes to take any action regarding the childs identification or view (IDEA, 1415, b, 3, 1997). The parents must be invited to participate in all meetings in which the students evaluation or placement will be considered (Assistance to the States, 300.345, 1999).If the parents disagree with any decisions made by school district personnel, they may seek resolution either through voluntary mediation or an administrative due process hearing. If the parents disagree with the final examination result of the administrative hearing process, they may appeal to the federal or state courts (IDEA, 1415, 1997). Failure to provide parents with the rights outlined in the IDEA can invalidate an otherwise appropriate IEP (Osborne, 1996).Change in Placement Procedures Once a child has been placed in special education, that placement may not be arbitrarily castrated. Again, before any change in placement may occur, the parents must be given proper notification. The childs placement also may not be changed while any administrative due process or judicial proceedings are pending absent agnatic consent or a court order (IDEA, 1415, j, 1997). The actual determination of what constitutes a change in placement can be tricky.For example, if a special education classroom was physical ly moved from one school to another as part of a school district reorganization, that would not be considered a change in placement as long as the students IEP could be fully implemented in the new location. By the corresponding token, the usual movement of a student from one level to another (i. e. , elementary to middle school) is not a change in placement if the students IEP can be fully implemented after the change (Osborne, 1996). However, any move that would affect the IEP or its implementation would be considered a change in placement.Obviously, changing a child from a resource room situation to a substantially separate class for students with behavioral disorders would be a change in placement. The elimination of a component of the students educational program would also constitute a change in placement (Abney v. District of Columbia, 1988). Minor changes are allowable, however. The key to determining whether or not the change is acceptable is how the modification will affe ct the students development (DeLeon v. Susquehanna Community School District, 1984).

Masters of the Universe

Consolidation of protean stakes Entities A Roadmap to Applying the inconstant use up Entities Consolidation set March 2010 FASB material, secure by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, is reproduced with permission. This publication is gived as an information service by the Accounting Standards and Communications Group of Deloitte & Touche LLP. It does non stay fresh all possible fact patterns and the advocate is subject to change.Deloitte & Touche LLP is non, by means of this publication, rendering account statement, worry, fiscal, enthronisation, legal, tax, or separate victor advice or services. This publication is non a substitute for such professional advice or services, nor should it be utilize as a basis for any decision or action that may walk out your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte & Touche LLP shall non be responsible for any loss sustained by any person who relies on this publication.As used in this document, Deloitte means Deloitte & Touche LLP, a to a lower placeling of Deloitte LLP. Please see www. deloitte. com/us/ virtually for a detailed description of the legal bodily structure of Deloitte LLP and its subsidiaries. March 2010 Contents Acknowledgments Introduction persona 1 Overview, Background, and ambit 1. 01 1. 02 determine Which Consolidation Model to Apply contemplation of Substantive Terms, Transactions, and Arrangements Substantive Terms and Arrangements sphere and Scope Exceptions Overall Scope ensureations 1. 3 1. 04 1. 05 1. 06 1. 07 1. 08 1. 09 1. 10 1. 11 Application of the get by Model in ASC 810-10 to Non-SPEs Qualification of a SPE as a Voting Interest Entity Application of the manage Model in ASC 810-10 to Multitiered levelheaded Entity Structures Application of the make do Model in ASC 810-10 to a Single Entity Held by a H olding gild Elimination of the QSPE Scope Exception ascertain Whether Employee economic value Plans Should Apply the vie Model in ASC 810-10 to Their enthronizations Scope Exception for Certain enthr mavinment Companies interpretation of Governmental Organization ascertain Whether a Governmental Organization Was apply to Circumvent the Provisions of the debate Model in ASC 810-10 Scope Exception for non-for-Profit Organizations Scope Exception for Not-for-Profit Organizations Circumvention of the fence Model in ASC 810-10 Accounting Guidance for NFPs as a Result of the contend Model in ASC 810-10 Determining Whether Entities That Present Their Financial arguings correspondingly to a NFP Can Qualify for the Not-for-Profit Scope Exception retentiveness of a For-Profit describe Entitys Accounting Policies in the coalesced Financial arguings of a Not-for-Profit inform Entity Scope Exception for Separate Accounts of Life Insurance Entities nub of the Term Exhaustive Ef fort Application of Exhaustive-Efforts Scope Exception to an Inactive Entity Created Before December 31, 2003 Definition of a stock on a lower floor ASC 810-10-15-17(d) instal of the assortment in the Definition of a Business on the Business Scope Exception 1 2 5 6 8 8 9 10 10 10 11 12 13 14 14 14 15 15 15 16 17 17 17 18 18 18 19 19 19 20 20 21 21 21 Scope Exception for Employee realize Plans Scope Exception connect to Investments Accounted for at Fair time value Scope Exception for Governmental Organizations Scope Exception for Not-for-Profit Organizations 1. 12 1. 13 1. 14 1. 15 1. 16 Scope Exception Related to Separate Accounts of Life Insurance Entities 1. 17 1. 18 1. 19 1. 20 1. 21 Exhaustive-Efforts Scope Exception Business Scope Exception i 1. 22 1. 23 1. 24 1. 25 1. 26 1. 27 1. 28 1. 29 1. 30 1. 31 Applying the Business Scope Exception on aReporting-Entity-by-Reporting-Entity Basis Determining When a Reporting Entity Should Assess Whether It Meets the Business Scope E xception infra the VIE Model in ASC 810-10 Definition of a Joint Venture and Joint Control as Used in the VIE Model in ASC 810-10-15-17(d)(1) Determining Whether the Reporting Entity dissipateicipated Signifi puketly in the Design or Redesign of the Legal Entity Scope Exception for Legal Entities Deemed to Be a Business Determining Whether Substantially All of the Activities Either select or atomic number 18 Conducted on Behalf of the Reporting Entity Scope Exception for an Entity Deemed to Be a Business Determining Whether Financing Is Subordinated Additional Financial Support frame in and Call Options Business Scope Exception Determining Whether More Than Half the Total of integrity, Debt, and Other Subordinated Financial Support Has Been Provided Lessees finish of Whether a jacket crown Lease With an Entity Should Be Assessed Under the VIE Model in ASC 810-10 Consideration of Leasing Activities in Which the Legal Entity Is the Lessor 22 22 24 25 25 27 28 29 30 30 Sect ion 2 finish of Whether the Reporting Entity Holds a uncertain Interest Identifying a Variable Interest 2. 01 2. 02 2. 03 2. 04 2. 05 2. 06 2. 07 2. 08 2. 09 2. 10 2. 11 2. 12 2. 13 2. 14 2. 15 2. 16 2. 17 2. 18 2. 19 2. 20 2. 21 2. 22 2. 23 2. 24 2. 5 Determining Whether a Holding Is a Variable Interest Identifying Whether a Reporting Entity Holds a Variable Interest Requiring compendium Under the VIE Model in ASC 810-10 Determining When a Lease dallys a Variable Interest standardizedly VIE Is a Lessor Determining When a Lease Represents a Variable Interest Potential VIE Is a Lessee Determining Variable Interests Under the VIE Model in ASC 810-10 in a celluloid CDO Structure When closing- shaper Fees Are Not Treated as a Variable Interest Determining Variable Interests Under the VIE Model in ASC 810-10 in a Synthetic CDO Structure When Decision-Maker Fees Are Treated as a Variable Interest earnting of Instruments Other Than lawfulness Applying the VIE Model in ASC 810- 10 to Trust favorite(a) Security Arrangements and Similar Structures Implicit Variable Interests and Activities Around the Entity Illustration Implicit Variable Interests Call and Put Options Implicit Variable Interests Total Return change Implicit Variable Interests Back-to-Back Asset Guarantee Determining When an Implicit Guarantee (Variable Interest) Exists in a Related-Party Transaction Implicit Variable Interests Waiving of a way Fee Overview of the Guidance in ASC 810-10-25-21 Through 25-36 Applying the Guidance in ASC 810-10-25-21 Through 25-36 to Purchase and Supply Arrangements Applying ASC 810-10-25-21 Through 25-36 to PPAs, Tolling Agreements, and Similar Arrangements Off-Market Supply Agreements Determining Whether a Variable Interest Is Subordinated Financial Support Analyzing a MMF for Consolidation How to Determine Whether an Embedded Derivative Is Clearly and Closely Related Economically to Its Asset or liability Host Applying the Guidance in ASC 810-10-25-35 and 25-36 Meaning of the Term Derivative Instrument in ASC 810-10-25-35 and 25-36 Meaning of the Term Market-Observable Variable in ASC 810-10-25-35 Meaning of the Term essentially All in ASC 810-10-25-36 32 32 32 35 36 37 37 39 39 40 43 43 46 46 47 47 51 51 53 55 56 58 59 60 62 63 65 66 66 Implicit Variable Interests The By-Design prelude to Determining Variability ii Section 3 close of Whether an Entity Is a VIE Determination of Whether legality Investment at jeopardize Is Sufficient Under ASC 810-10-15-14(a) 3. 01 3. 2 3. 03 3. 04 3. 05 3. 06 3. 07 3. 08 3. 09 3. 10 3. 11 3. 12 3. 13 Determination of Equity Investment at Risk When the Investors initial Accounting Basis of Its Equity Differs From Fair Value Including Mezzanine Equity Instruments in Total Equity Investment at Risk Determination of Whether a Personal Guarantee Provided by an Equity Holder Represents Equity Investment at Risk Determining Whether an Instrument With a Risks-and-Rewards Profile Similar to That of an Equity Investment Qualifies as Equity Impact of ASC 810-10-15-14(a) on the Determination of Total Equity Investment at Risk When the Investee Is a Foreign Entity Non-At-Risk EquityInvestment as a Variable Interest Definition of Profits and losings, as Used in ASC 810-10-15-14(a)(1) Including Fixed-Rate, Nonparticipating Preferred Stock in the Total Equity Investment at Risk Determining Whether an Equity Interest Participates Significantly in the Profits and losses of an Entity Impact of Put Options, Call Options, and Total Return Swaps on Equity Investment at Risk Impact of Contracts and Instruments That Protect an Equity Investor on Equity Investment at Risk Qualification of Equity Investments Issued in convince for Promises to Perform Services as Equity Investment at Risk Determining Whether Fees Received by an Equity Investor for Services Performed at Inception or in the Future Reduce Equity Investment at Risk Determining Whether Funds Borrowed by a Reporting Entity Qualify as Equity Investment at Risk Determining Whether a Quantitative appraisal of Equity Investment at Risk Is Necessary Qualitative Versus Quantitative abstract of Whether an Entity Is a VIE Quantitative evaluate-Loss Calculation After Adoption of ASU 2009-17 Consideration of Subordinated Debt in a Qualitative Assessment of Sufficiency of Equity at Risk 68 69 70 70 70 71 71 71 72 72 73 73 74 76 77 77 78 78 78 79 80 81 81 82 83 84 84 85 86 87 87 88 88 90 90 91 92 92 93 94 94 95Equity Investments That Participate in Profits and losings Equity Investments Provided nowadays or Indirectly by the Entity Equity Investments Financed by the Entity 3. 14 3. 15 3. 16 3. 17 3. 18 Sufficiency of Equity Investment at Risk Determining Whether, as a Group, the Holders of the Equity Investment at Risk Lack Any of the Characteristics in ASC 810-10-15-14(b) 3. 19 3. 20 3. 21 3. 22 3. 23 3. 24 3. 25 3. 26 Characteristics in ASC 810-10-15-14(b) Held Within the Group of At-Risk Equity Investors Meaning of the Phrase As a Group in ASC 810-10-15-14(b) Impact of ASC 810-10-15-14(b) on Determining Characteristics of Control or Lack of Control by the Group of Holders of Equity Investment t Risk Minimum count of Equity Held By an Investment Manager or GP Ability of Holders of Equity Investment at Risk to Remove a Decision Maker Decision-Making Rights Granted to an Equity Holder Separately From Its Equity Investment at Risk Non squ atomic number 18 Equity Investment of a GP Determining Whether a GP Interest Should Be Aggregated With an LP (or Other) Interest in the Evaluation of a Legal Entity Under ASC 810-10-15-14 Meaning of Insignificant in the Analysis of Fees Paid to a Decision Maker or Service Provider Meaning of the Term Same Level of Seniority Whether a Fee Paid to a Decision Maker or Service Provider That Represents a Variable Interest Could Potentially Not Be Significant to a VIE Determining Whether a Decision Maker or Service Provider Must Evaluate ASC 810-10-25-38A If the Fe es Paid to the Decision Maker or Service Provider Do Not Represent a Variable Interest Re sagaciousness of Fees Paid to a Decision Maker or Service Provider Determining Whether a Reporting Entity Lacks the Obligation to Absorb anticipate losings of the Entity Use of a Qualitative Approach to Determine Whether a Reporting Entity Has the Obligation to Absorb judge Losses iii Analysis of Fees Paid to a Decision Maker or Service Provider 3. 27 3. 28 3. 29 3. 30 3. 31 3. 32 3. 33 Obligation to Absorb the Expected Losses of the Legal Entity 3. 34 3. 35 3. 36Determining Whether a Put Option on an Equity Interest Causes the Holders of the Equity Investment at Risk to Lack the Obligation to Absorb the Expected Losses of the Entity Determining Whether a Put Option on a Potential VIEs Assets Causes the Holders of the Equity Investment at Risk to Lack the Obligation to Absorb the Expected Losses of the Potential VIE Determining the printing of Other Arrangements on the Ability of the Equity Group to Absorb Expected Losses or Receive relief Returns Determining Whether an Investor Has the Right to Receive the Expected Residual Returns of a Legal Entity and Whether the Investors Return Is lie Impact of an Outstanding Equity Call Option on Whether a Return Is Capped Impact of a Call Option on n Entitys Assets on Whether a Return Is Capped Application of the VIE Test Under ASC 810-10-15-14(c) Considering a Reporting Entitys Obligations to Absorb Expected Losses and Rights to Receive Expected Residual Returns Other Than Those Provided Through Equity Interests When Applying ASC 810-10-15-14(c) Anticipated Changes in the Assessment of Whether an Entity Is a VIE Future Sources of Financing to Include in a Potential VIEs Expected Cash Flows Guidance on re deliberateation of Whether an Entity Is a VIE Valuation of Equity Investment at Risk When a Reconsideration Event Occurs Isolating the Impact of a Change in the Entitys Governing Documents or Contractual Arrangements and the Impact of Undertaking Additional Activities or Acquiring Additional Assets Entering Into Bankruptcy Emerging From Bankruptcy Determining Whether a Development-Stage Entity Is a Business Development Stage Entities Assessing the Sufficiency of Equity Investment at Risk 96 96 96 98 98 99 99 99 100 101 102 102 103 104 104 107 107 108 108 109 109 109Right to Receive the Expected Residual Returns of the Legal Entity 3. 37 3. 38 3. 39 3. 40 3. 41 Determining When the Equity Investors as a Group Are Considered to Lack the Characteristics in ASC 810-10-15-14(b)(1) Initial Determination of Whether an Entity Is a VIE 3. 42 3. 43 3. 44 3. 45 3. 46 3. 47 3. 48 3. 49 3. 50 Reconsideration of Whether the Entity Is a VIE Development-Stage Entities Section 4 Expected Variability and the Calculation of Expected Losses and Expected Residual Returns 4. 01 4. 02 4. 03 4. 04 4. 05 4. 06 4. 07 4. 08 4. 09 4. 10 4. 11 4. 12 4. 13 4. 14 4. 15 4. 16 Definitions of Expected Losses and Expected Residual Ret urns The Meaning of Net Assets Under the VIE Model in ASC 10-10 Purpose of Calculating the Expected Losses and Expected Residual Returns of the Entity How to Determine the Expected Losses and Expected Residual Returns of the Entity How to Determine the Expected Losses and Expected Residual Returns of the Entity Example Use of the Indirect Method to Calculate Estimated Cash Flows Non bills Receipts or Distributions in the Determination of an Entitys Estimated Cash Flow Scenarios Inclusion of Low-Income Housing or Similar Tax Credits in a Calculation of Expected Losses and Expected Residual Returns Effect of Options on Specific Assets in the Determination of the Entitys Estimated Cash Flows Developing Estimated Cash Flow Scenarios and Assigning Probabilities for Expected Loss and Expected Residual Return Calculations Discount Rate to Use in the Calculation of Expected Losses and Expected Residual Returns Cash Flow and Fair Value Approaches to Calculating Expected Losses and Expected Residual Returns Appropriateness of Using Either the Cash Flow Approach or Fair Value Approach to Calculate Expected Losses and Expected Residual Returns Determining Whether Decision-Maker and Service-Provider Fees Are Included in Expected Losses and Expected Residual Returns Whether ASC 820-10 Affects an Expected Losses/Residual Returns Calculation Allocation Methods That May Be Used to Determine Whether Fees Paid to Decision Makers or Service Providers Are Variable Interests iv 111 111 112 113 113 116 121 123 124 124 one hundred twenty-five 127 128 128 129 129 130 Section 5 Interests in Specified Assets of the VIE and Silo Provisions 5. 01 5. 02 5. 03 5. 04 5. 05 5. 06 5. 07 5. 08 5. 9 Accounting for Interests in Specified Assets and Silos Consideration of Interests in Specified Assets Guarantees That Represent a Variable Interest in the Entity Versus a Variable Interest in Specified Assets of the Entity Considering a Partys Other Interests in the Analysis of a Variable Interest in Specified Assets of an Entity Considering a Related Partys Interest in the Analysis of a Variable Interest in Specified Assets of an Entity Determining Whether a Silo Exists Determining Whether a Host Entity Is a VIE When a Silo Exists Determining Whether the Silo Is a VIE If the Host Entity Is a VIE Determining the Primary benefactive role of the Host Entity and Silo 133 133 135 136 136 137 138 139 140 141 Section 6 Determination of the Primary Beneficiary 6. 01 6. 02 6. 03 6. 04 6. 05 6. 06 6. 07 6. 08 6. 09 6. 10 6. 11 6. 12 6. 13 6. 14 6. 15 6. 16 6. 17 6. 18 6. 19 6. 20 6. 21 6. 22 6. 23 6. 24 6. 25 6. 26 6. 27 6. 28 6. 9 How a Reporting Entity Applies the VIE Model in ASC 810-10 When It Appears Not to Be the Primary Beneficiary Determining Whether More Than One Reporting Entity Can Consolidate a VIE Risks to Which an Entity Is Designed to Be Exposed Risks and Related Activities Assessing Power to Direct When Decisions Are Made by a dining table of Directors and a Manag er Consideration of All Risks in the Determination of the Power to Direct Activities of the VIE Evaluating Power to Direct the Most Significant Activities of the VIE in Scenarios Involving a PPA Determination of a Primary Beneficiary for Every VIE Evaluating the Characteristic in ASC 810-10-25-38A(b) Reconsideration of the Primary Beneficiary of a VIE The Effect of Contingencies on Determining the Primary Beneficiary Consideration of Forward Starting Rights in the Primary Beneficiary Analysis Determination of Whether Kickout Rights are Substantive Consideration of a Board of Directors as a Single Party in the Assessment of Kickout Rights Withdrawal and Liquidation Rights Evaluation of Shared Power Versus Multiple orthogonal Parties Performing Different Significant Activities Shared Power Within a Related-Party Group VIEs With No Ongoing Activities That Significantly Affect Their Economic Performance Factors to Consider in the Determination of Whether a Relationship Represents a D e Facto Agency Aggregation of Variable Interests When the Reporting Entity Does Not Hold a Variable Interest Directly in the Entity De Facto Agency Relationship When Only Part of an Interest Is Received as a Loan or Contribution From A nonher Reporting Entity Related-Party Determination Interests Received as a Loan Considering Whether Restrictions on a Reporting Entitys Ability to Sell, Transfer, or Encumber Its Interests in a VIE constitute Constraint The Effect of a Put Option on a De Facto Agency Relationship Consideration of De Facto Agent Requirements in the Determination of the Primary Beneficiary in a Joint Venture Arrangement Determining Which Party in a Related-Party Group Is Most Closely Associated With a VIE Determining the Primary Beneficiary in a Related-Party Group When Members of the Related-Party Group Are Under Common Control Consideration of the Factors in ASC 810-20 in the Determination of Which Related Party Is Most Closely Associated Application of ASC 810-10- 25-38A and ASC 810-10-25-44 When a Fee Paid to an Asset Manager Represents a Variable Interest and the Asset Manager Is Part of a Related-Party Group 42 143 143 144 144 145 147 148 149 149 151 153 155 156 156 157 157 158 159 160 160 162 162 163 164 165 166 166 169 169 170 Related-Party Considerations v Section 7 Initial beat and Subsequent Accounting Initial Measurement 7. 01 7. 02 7. 03 Balance Sheet Classification of Parents Interest Primary Beneficiary and VIE Under Common Control Qualification of an Entity as a Business for Recording Good get out Upon Consolidation of a VIE Accounting After Initial Measurement Inter smart set Eliminations 173 173 173 174 175 175 Accounting After Initial Measurement Section 8 Presentation and Disclosures Presentation 8. 01 8. 02 8. 03 8. 04 8. 5 Application of the Presentation Requirements of ASC 810-10-45-25 to a Consolidated VIE Separate Presentation of Certain Assets and Liabilities of Consolidated VIEs Optional Separate Presentation of C ertain Assets and Liabilities of Consolidated VIEs Disclosures About Securitizations Under ASC 860 Versus Disclosures About Securitizations Under the VIE Model in ASC 810-10 Definition of Maximum Exposure to Loss for Disclosure Purposes 177 177 177 178 179 179 181 182 Disclosures Section 9 Transition 9. 01 9. 02 Whether a Reporting Entity Can Elect the FVO for a VIE Upon Adopting ASU 2009-17 Determining VIE and Primary-Beneficiary Status Upon Transition to ASU 2009-17 183 186 186 Appendix A Implementation Guidance Appendix B Glossary of Terms and Abbreviations Used in the VIE Model in ASC 810-10 Glossary of Terms Abbreviations 189 205 205 206 Appendix C Key Differences Between U. S. GAAP and IFRSs Consolidated Financial narratives Appendix D origin Guide Appendix E Glossary of Standards 208 212 214 vi AcknowledgmentsAshley Carpenter, Rob Comerford, Jon Howard, Jeff Nickell, Randall Sogoloff, Joe Ucuzoglu, and Bob Uhl provided the thought leadership necessary to formulate ou r views on the finishing of the key principles of Statement 167. James Barker worked with our Energy & Resources practice to develop our views on the application of Statement 167 to power purchase arrangements. Jim Schnurr continues to work with our Investment Management practice to provide input on Statement 167 and the ongoing joint integratings project. Xihao Hu and Sherif Sakr provided invaluable insight and perspective from our Financial Accounting and Reporting Services group.Joe Renouf, Michael Lorenzo, Lynne Campbell, Yvonne Donnachie, and Joan Meyers delivered the start class work drift that we learn come to rely on for all of Deloittes publications. Courtney Sachtleben worked tirelessly to ensure this Roadmap was of the highest quality. Her dedication and commitment got this publication to the finish line. Others deserving of detect and appreciation are Robin Kramer, Shan Nemeth, Adrian Schwartz, Kirsten Aunapu, Angela Bacarella, Chris Rogers, Trevor Farber, Catheri ne Smith, Madhu Gopinath, Shane Burak, Joseph Berry, Kirby Rattenbury, Will Estilo, Chris Toppin, and Thalia Smith. 1 Introduction March 2010 To the clients, friends, and people of Deloitte Welcome back to the land of varying arouse entities (VIEs).Its been deuce-and-a-half historic period since we last updated our Roadmap on integrating of VIEs, and the consolidations terrain has changed significantly in that time. The most noneworthy changes are (1) the issuance of Statement 167, (2) the release of the FASB Accounting Standards code (the Codification), and (3) the go on work of the FASB and IASB on a joint consolidations project. Statement 167 Whats All the Fuss About? In June 2009, the FASB issued Statement 167, which amends the consolidation pleader applicable to VIEs. The Statement 167 amendments are effective as of the first annual coverage period that begins after November 15, 2009, and for interim periods within that first annual coverage period.Statement 167 repla ces description 46(R)s bumps-and-rewards-based quantitative approach to consolidation with a more qualitative approach that requires a report entity to have some economic exposure to a VIE along with the power to direct the activities that most significantly impact the economic performance of the entity. The FASB also reminded its constituents that solely substantive terms, transactions, and arrangements should affect the accounting conclusions at a lower place Statement 167 the SEC has reiterated this principle in numerous public speeches. Its not surprising that many initially concentrated on on a lower floorstanding how Statement 167 would affect restricting special-purpose entities (QSPEs) and other structured finance entities because that seemed to be the FASBs focus, particularly given that six of the nine execution of instrument examples in Statement 167 address structured finance entities.However, the initial adoption of Statement 167 has proved time-consuming becaus e it does not just apply to structured finance entities or entities historically considered VIEs under Interpretation 46(R). In addition, even if a reportage entity determines that it does not need to consolidate a VIE under Statement 167, it essential provide huge disclosures for any VIEs in which it foxs a variable busy. In addition to the overall change in the Interpretation 46(R) consolidation pretense, Statement 167 contains the chase significant purvey and amendments ThescopeexemptionforQSPEsisremovedfromInterpretation46(R). Asa bequeath,transferors,sponsors, and investors in QSPEs need to consider the consolidation and disclosure supply in Statement 167.Kickoutrightsandparticipatingrightsareignoredin(1)thedeterminationofwhetheranentityisaVIE and (2) the identification of the VIEs primal donee, unless the rights are held by a single insurance coverage entity. A accountentity mustcontinuallyreconsiderwhichvariable fillholderistheVIEsprimary beneficiary. A insurance coverageentitymustreconsideranentitysVIEstatusifthe law recreateholderslosethepowerfrom the voting rights of those investments to direct the entitys most significant activities. Anexemptiontothedefacto actorrequirementsexistswhenusualtransferrestrictionsarebasedon terms mutually agreed to by willing, independent parties. Areportingentitymust witnesssixconditionstodeterminethatfeespaidtoadecisionmakerorservice provider do not exist a variable affair.The FASB believes that fees paid to a reporting entity that acts solely as a fiduciary or agent should typically not represent a variable engross because those fees would typically meet these six conditions. 2 Aprimarybeneficiarymustpresentseparately,onthefaceofthebalance tack,(1)additionsof amalgamated VIEs that can only be used to settle obligations of those VIEs and (2) liabilities of consolidated VIEs for which creditors do not have recourse to the general credit of the primary beneficiary. Powerisonlyconsideredshared(andnopa rtyconsolidates)if(1)twoormoreun cogitatepartiestogether have the power to direct the VIEs most significant activities and (2) decisions nigh those activities require the react of each of the parties sharing power. To address the new consolidations guidance under Statement 167, this edition of the Roadmap (1) includes over 30 new Q&As and (2) updates our existing Interpretation 46(R) Q&As. The Codification Do You Have All the New Topics, Subtopics, Sections, Subsections, and Paragraphs Memorized? In July 2009, the Codification became the single source of authoritative nongovernmental U. S. GAAP. The Codifications hierarchy is topic, subtopic, section, and paragraph, in that order, each with a numerical designation (e. g. , ASC 810-10-25-37, which was at one time paragraph 6 of Interpretation 46(R)). ASU 2009-17 incorporated Statement 167s amendments to the VIE model into the Codification. The beginning of each section of this Roadmap contains quotes from the enamor Codification paragraphs.In addition, for those of you still trying to find your way through the Codification, we thought it would be helpful for each Codification paragraph to be followed by a reference to the corresponding pre-Codification paragraph from Interpretation 46(R), as amended by Statement 167. Although ASC 810-10-55-37 (paragraph B22 of Interpretation 46(R)1) might not roll off your tongue like B22 of FIN 46(R) used to, the Codification is here to stay. However, we suspect that just as there are probably a few accountants who are clinging to their last stochastic variable of the FASBs Original Pronouncements (we know you are out there ), there are some that might need a little help determination the new VIE guidance in the Codification.Accordingly, Appendix D of this Roadmap includes a guide that cross-references the paragraphs from ASC 810-10 to the guidance in Interpretation 46(R), as amended by Statement 167. The reference guide also lists the accounting topic and section from the Roadmap that these paragraph references apply to. (We thought a few hints and a little cheat sheet among friends might be helpful while we all adjust to the new layout of the Codification. ) No More Big Changes Expected Anytime Soon Right? Well not really. Did we mention the joint consolidations project that the FASB and the IASB are working on? The IASB and FASB are jointly developing guidance for consolidation of all entities, including entities currently considered VIEs.Although Statement 167 was not developed as part of the joint project, the IASB staff closely followed the FASBs work on Statement 167. The boards goal is to have one consolidation model whose principles are similar to those in Statement 167 and that would apply to all entities. In December 2008, the IASB issued Exposure Draft 10 (ED 10), Consolidated Financial Statements. Although the boards believe that the objectives for assessing master of structures under Statement 167 and ED 10 are fundamentally consi stent, they also acknowledged that the guidance in ED 10 can capablenessly result in different consolidation conclusions particularly for certain investment funds.The boards are continuing to jointly deliberate several critical issues, including the evaluation of principal and agent relationships, the concept of effective control (e. g. , the ability to control a voting amour entity when a reporting entity holds fewer than half of the voting rights), related parties, disclosures, and exhibit requirements. The boards have stated their goal to issue an exposure draft during the second quarter of 2010 and a final standard in advance the end of 2010. We will continue to keep you updated on these developments through our Heads Up newsletters as well as through our Dbriefs webcast series. 2 For a discussion of the current differences between the consolidation models under IFRSs and U. S. GAAP, see Appendix C of this Roadmap. 1 2You see thats helpful isnt it? If you wish to vex Hea ds Up and other accounting publications issued by Deloittes Accounting Standards and Communications Group, please register at www. deloitte. com/us/subscriptions. Join Dbriefs to receive notifications about future webcasts at www. deloitte. com/us/dbriefs. 3 Whats This I Hear About a Deferral of Statement 167? Can I Get One Too? In February 2010, the FASB issued ASU 2010-10, which amends certain provisions of the VIE model in ASC 810-10. The ASU delays the effective date of Statement 167 for a reporting entitys involution in certain entities and certain money market mutual funds.It also addresses concerns that the joint consolidation model under development by the FASB and IASB may result in a different consolidation conclusion for asset managing directors and that an asset animal trainer consolidating certain funds would not necessarily provide useful information to investors. In addition, the ASU amends certain provisions of ASC 810-10-55-37 (paragraph B22 of Interpretation 46 (R), as amended by Statement 167) to change how a decision maker or service provider determines whether its fee is a variable interest. This Roadmap reflects the changes to ASC 810-10-55-37. The ASU will defer the application of Statement 167 for a reporting entitys interest in an entity (1) that has all the attributes of an investment company or (2) for which it is industry practice to apply quantity principles for financial reporting purposes that are consistent with those followed by investment companies.The hold does not apply in situations in which a reporting entity has the explicit or implicit obligation to fund losses of an entity that could potentially be significant to the entity. The time lag also does not apply to interests in securitization entities, asset-backed financing entities, or entities formerly considered QSPEs. In addition, the deferral applies to a reporting entitys interest in an entity that is required to comply with or operate in congruity with require ments similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. These entities will be subject to the deferral even if the money market fund manager has an xplicit or implicit obligation to fund losses of the entity. For reporting entities that meet the deferral conditions, the guidance on VIEs in ASC 810-10 (before the amendments in ASU 2009-17 and the amendments to 810-10-55-37 in ASU 2010-10) would be used to determine whether (1) the legal entity is a VIE, (2) the reporting entity has a variable interest in a VIE, and (3) the reporting entity is the primary beneficiary of a VIE. However, all reporting entities must provide the disclosures in ASC 81010, as amended by ASU 2009-17, for all VIEs in which they hold a variable interest or for which they are the primary beneficiary regardless of whether the entity qualifies for the deferral. Q&A 1. 1 of this Roadmap includes a decision tree to help you understand how the deferral may affect which consolidation model you will need to apply. In addition, see our January 27, 2010, Heads Up for information about the ASUs other significant provisions. The Road Forward We understand that Statement 167 (like Interpretation 46(R) before it) can be a difficult standard to apply particularly when you are new to its provisions. We believe this Roadmap can help you find your way and can help make the complex sound a little simpler. To those new to VIE land, and to our grizzled VIE veterans, we look forward to working with you. Deloitte & Touche LLP 4 Section 1 Overview, Background, and Scope ASC 810-10 5-8 The Variable Interest Entities Subsections clarify the application of the General Subsections to certain legal entities in which equity investors do not have equal equity at risk for the legal entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk wish any one of the following three cha racteristics a. b. c. The power, through voting rights or similar rights, to direct the activities of a legal entity that most significantly impact the entitys economic performance The obligation to absorb the expected losses of the legal entity The right to receive the expected residual returns of the legal entity.Paragraph 810-10-10-1 states that consolidated financial statements are usually necessary for a fair presentation if one of the entities in the consolidated group directly or indirectly has a arrogant financial interest in the other entities. Paragraph 81010-15-8 states that the usual condition for a controlling financial interest is possession of a majority voting interest. However, application of the majority voting interest requirement in the General Subsections of this Subtopic to certain types of entities may not find out the party with a controlling financial interest because the controlling financial interest may be achieved through arrangements that do not invol ve voting interests. Paragraph 1 05-8A The reporting entity with a variable interest or interests that provide the reporting entity with a controlling financial interest in a variable interest entity (VIE) will have both(prenominal) of the following characteristics a. b. The power to direct the activities of a VIE that most significantly impact the VIEs economic performance The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Paragraph 1A 05-9 The Variable Interest Entities Subsections explain how to identify VIEs and how to determine when a reporting entity should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. Transactions involving VIEs are common.Some reporting entities have entered into arrangements using VIEs that break through to be designed to avoid repo rting assets and liabilities for which they are responsible, to delay reporting losses that have already been incurred, or to report gains that are illusory. At the similar time, many reporting entities have used VIEs for valid business purposes and have properly accounted for those VIEs based on guidance and induceed practice. Paragraph E5 05-10 Some relationships between reporting entities and VIEs are similar to relationships established by majority voting interests, but VIEs often are arranged without a governing board or with a governing board that has limited ability to make decisions that affect the VIEs activities.A VIEs activities may be limited or regulate by the articles of incorporation, bylaws, partnership agreements, trust agreements, other establishing documents, or contractual agreements between the parties involved with the VIE. A reporting entity implicitly chooses at the time of its investment to accept the activities in which the VIE is permitted to engage. Th at reporting entity may not need the ability to make decisions if the activities are predetermined or limited in ways the reporting entity chooses to accept. Alternatively, the reporting entity may obtain an ability to make decisions that affect a VIEs activities through contracts or the VIEs governing documents. at that place may be other techniques for protecting a reporting entitys interests.In any case, the reporting entity may receive benefits similar to those received from a controlling financial interest and be exposed to risks similar to those received from a controlling financial interest without holding a majority voting interest (or without holding any voting interest). Paragraph E7 The power to direct the activities of a VIE that most significantly impact the entitys economic performance and the reporting entitys exposure to the entitys losses or benefits Paragraph 14A are determinants of consolidation in the Variable Interest Entities Subsections. Paragraph E7 The Vari able Interest Entities Subsections also provide guidance on ascertain whether fees paid to a decision maker or service provider should be considered a variable interest in a VIE. 5 ASC 810-10 (continued) 5-11 VIEs often are created for a single specified purpose, for example, to facilitate securitization, leasing, hedging, research and development, reinsurance, or other transactions or arrangements. The activities may be predetermined by the documents that establish the VIEs or by contracts or other arrangements between the parties involved. However, those characteristics do not define the scope of the Variable Interest Entities Subsections because other entities may have those kindred characteristics. The distinction between VIEs and other entities is based on the nature and amount of the equity investment and the rights and obligations of the equity investors. Paragraph E18 05-12 Because the equity investors in an entity other than a VIE generally absorb losses first, they can b e expected to resist arrangements that give other parties the ability to significantly increase their risk or reduce their benefits. Other parties can be expected to align their interests with those of the equity investors, protect their interests contractually, or avoid any involvement with the entity. Paragraph E19 05-13 In contrast, each a VIE does not issue voting interests (or other interests with similar rights) or the fundamental equity investment at risk is not fitting to permit the legal entity to finance its activities without additional subordinated financial support.If a legal entity does not issue voting or similar interests or if the equity investment is in capable, that legal entitys activities may be predetermined or decision-making ability is determined contractually. If the total equity investment at risk is not sufficient to permit the legal entity to finance its activities, the parties providing the necessary additional subordinated financial support most like ly will not permit an equity investor to make decisions that may be counter to their interests. That means that the usual condition for establishing a controlling financial interest as a majority voting interest does not apply to VIEs. Consequently, a standard that requires possession of voting stock is not appropriate for such entities. Paragraph E20 1. 01 Determining Which Consolidation Model to ApplyUnder ASC 810-10, there are two primary1 models for find whether consolidation is appropriate the VIE model and the voting interest model. ASU 2009-17 amends the VIE model and is effective as of the beginning of each reporting entitys first annual reporting period that begins after November 15, 2009, and for interim periods within those reporting periods. ASU 2010-10 indefinitely defers the amendments in ASU 2009-17 for a reporting entitys interest in certain entities and amends the guidance in paragraph 810-10-55-37 (as amended by ASU 2009-17) on determining whether a decision-maker or service-provider fee represents a variable interest. The deferral will be most applicable to interests in certain investment funds.For reporting entities that meet the deferral conditions, the guidance on VIEs in ASC 810-10 (before the amendments in ASU 2009-17 and the amendments to 810-10-55-37 in ASU 2010-10) would be used to determine whether the legal entity is a VIE, whether the reporting entity has a variable interest in a VIE, and whether the reporting entity is the primary beneficiary of a VIE. However, all reporting entities must provide the disclosures in ASC 810-10, as amended by ASU 2009-17, for all VIEs in which they hold a variable interest or for which they are the primary beneficiary regardless of whether the entity qualifies for the deferral. Question How should a reporting entity determine which consolidation model is appropriate under ASC 810-10? 1While ASC 810-10 primarily focuses on the voting interest model and the VIE model, it also discusses consolidatio n of entities controlled by contract. Although the guidance in the Consolidation of Entities Controlled by Contract subsection applies to all entities (take out entities that are determined to be VIEs), the context of the guidance is physician practice management entities. 6 Answer When determining which consolidation model to apply, a reporting entity should consider the following flowchart Does one of the scope exceptions in ASC 810-10-15-12 or 15-17 apply? No Does the potential VIE and the reporting entitys interest in the potential VIE meet the deferral conditions in ASC 810-10-65-2(aa)?Yes Apply the voting interest model in ASC 810-10. Yes No Does the reporting entity have a variable interest in the potential VIE under ASC 810-10 (before the amendments by ASU 2009-17)? Yes Is the entity a VIE under ASC 81010 (before the amendments by ASU 2009-17)? Yes Determine whether the reporting entity is the primary beneficiary of the VIE under ASC 810-10 (before the amendments by ASU 2009 -17). No No No Does the reporting entity have a variable interest in the potential VIE under ASC 810-10 (as amended by ASU 2009-17)? Yes No Is the entity a VIE under ASC 81010 (as amended by ASU 2009-17)? Yes Apply the voting interest model in ASC 810-10 to the entity.Determine whether the reporting entity is the primary beneficiary of the VIE under ASC 810-10 (as amended by ASU 2009-17)? Apply the disclosure requirements in ASC 810-10-5 (as amended by ASU 2009-17) for all VIEs in which the reporting entity holds a variable interest, regardless of whether the deferral conditions in ASC 810-10-65-2(aa) are met. If one of the scope exceptions in ASC 810-10-15-12 or 15-17 does not apply to the potential accounting parent or potential accounting subsidiary, determining whether the potential VIE and the reporting entitys interest in the potential VIE meet the deferral conditions in ASC 810-10-65-2(aa) is the first step in the assessment of whether an entity should be consolidated.Note th at this determination is performed first because the analysis of whether the reporting entity has a variable interest in the entity, the entity is a VIE, or the reporting entity is the primary beneficiary may differ depending on whether the potential VIE and the reporting entitys interest in the potential VIE meet the deferral conditions in ASC 810-10-65-2(aa). After a reporting entity determines whether the deferral criteria are met, determining whether an entity is a VIE is the next step in assessing whether an entity should be consolidated. Even a company with wholly possess consolidated subsidiaries must determine whether any of its subsidiaries (as well as any interests it may have in other entities) are VIEs.Note that because of a change in facts and circumstances, a potential VIE and the reporting entitys interest in a potential VIE that initially met the deferral conditions in ASC 810-10-65-2(aa) may afterwards lose the ability to apply the deferral. In this situation, ASU 2009-17 becomes effective for the potential VIE and the reporting entitys interest in the potential VIE. If a reporting entity must consolidate an entity that no longer qualifies for the deferral, the assets, liabilities, and noncontrolling interests of the VIE should be measured in accordance with ASC 810-1030-1 through 30-6. Once a reporting entity applies the amendments of ASU 2009-17 to the potential VIE, it cannot subsequently requalify for the deferral conditions in ASC 810-10-65-2(aa). 7 ExampleEnterprise A has 60 percentage of the voting interest in Entity B. Enterprise A also receives fees for providing asset management services to B. Unless one of the scope exceptions in ASC 810-10-15-12 and 15-17 applies to A (the potential accounting parent) or B (the potential accounting subsidiary), A must determine (1) whether B, and As interest in B, meets the conditions in ASC 810-10-65-2(aa), (2) whether A holds a variable interest or variable interests in B, and (3) whether B is a VIE. Scenario 1 If B, and As interest in B, meets the conditions in ASC 810-10-65-2(aa), A must determine whether B is a VIE, as specify in ASC 810-10-15-14 (before the amendments in ASU 2009-17).If A holds a variable interest, as defined in ASC 810-10-20 and illustrated in ASC 810-10-55-16 through 55-41 (before the amendments in ASU 2009-17), in B and B is a VIE, A should assess whether it is the primary beneficiary in accordance with ASC 810-1025-38 (before the amendments in ASU 2009-17). Enterprise A should also provide the disclosures in ASC 810-10 (as amended by ASU 2009-17). Scenario 2 If B does not meet the conditions in ASC 810-10-65-2(aa), A must determine whether B is a VIE, as defined in ASC 810-10-15-14 (as amended by ASU 2009-17). If A holds a variable interest, as defined in ASC 81010-20 and illustrated in ASC 810-10-55-16 through 55-41 (as amended by ASU 2009-17), in B and B is a VIE, A should assess whether it is the primary beneficiary in accordance with ASC 810 -10-25-38A (as amended by ASU 2009-17). Enterprise A should also provide the disclosures in ASC 810-10 (as amended by ASU 2009-17).Scenario 3 If B meets the conditions in ASC 810-10-65-2(aa) but is not a VIE, as defined in ASC 810-10-15-14 (before the amendments by ASU 2009-17), A should apply the voting interest model in ASC 810-10 to B. Scenario 4 If B does not meet the conditions in ASC 810-10-65-2(aa) and is not a VIE, as defined in ASC 810-1015-14 (as amended by ASU 2009-17), A should apply the voting interest model in ASC 810-10 to B. Substantive Terms and Arrangements ASC 810-10 15-13A For purposes of applying the Variable Interest Entities Subsections, only substantive terms, transactions, and arrangements, whether contractual or noncontractual, shall be considered.Any term, transaction, or arrangement shall be disregarded when applying the provisions of the Variable Interest Entities Subsections if the term, transaction, or arrangement does not have a substantive effect on any of the following a. b. c. A legal entitys status as a VIE A reporting entitys power over a VIE A reporting entitys obligation to absorb losses or its right to receive benefits of the legal entity. Paragraph 2A 15-13B Judgment, based on consideration of all the facts and circumstances, is needed to distinguish substantive terms, transactions, and arrangements from nonsubstantive terms, transactions, and arrangements. Paragraph 2A 1. 02 Consideration of Substantive Terms, Transactions, and Arrangements Question What is meant by substantive terms, transactions, and arrangements in ASC 810-10-15-13A? AnswerIn ASU 2009-17, the FASB added guidance to emphasize that when applying the provisions of the VIE subsections of ASC 810-10, a reporting entity should only consider substantive terms, transactions, and arrangements, whether contractual or noncontractual. The Board thought that it needed to add this lyric poem to avoid situations in which the form of an entity may indicate that an entity is not a VIE or that a reporting entity is not a primary beneficiary when the substance of the arrangement may indicate otherwise. Paragraph A35 in the Basis for Conclusions of Statement 167 states, in part The Board considered whether additional guidance was needed for determining whether a variable interest holder has power when the economics of the holders interest(s) or other involvements is inconsistent with its stated power from such interest(s) or other involvements.The Board agreed that an increased level of skepticism is needed in situations in which an enterprises economic interest in a VIE, including its obligation to absorb losses or its right to receive benefits, is disproportionately greater than its stated power. In the Boards view, the level of skepticism about an enterprises lack of power should increase as the disparity between an enterprises economic interest and its power increases. 8 When the provisions of ASC 810-10 (as amended by ASU 2009-17) are appli ed, the consolidation conclusion should not be affected by any term, transaction, or arrangement that does not truly affect the reporting entitys power or rights to receive benefits or obligations to absorb losses.A reporting entity should use judgment, based on consideration of all the facts and circumstances, to distinguish substantive terms, transactions, and arrangements from nonsubstantive terms, transactions, and arrangements. To further emphasize this point, the SEC has reminded registrants of the staffs skepticism about accounting conclusions that do not conform to the economic substance of the arrangement. For example, in remarks regarding the implementation of ASU 2009-17 before the 2009 AICPA National Conference on Current SEC and PCAOB Developments, Arie Wilgenburg, a professional accounting fellow in the SECs Office of the gaffer Accountant, discussed the following examples Assume a company has transferred assets to a structure to be managed by a third party, but the a nagers equity interest in the structure is minimal and appears to be guaranteed given the management fee structure. In addition, assume the manager can be removed by the reporting enterprise if the managers performance is unsatisfactory. The combination of the above factors indicates that the company may not have relinquished control rather the manager may simply be acting as an agent on behalf of the reporting enterprise. We have also seen other, similar structures that include a buy-sell clause rather than a removal right, as a mechanism for dissolving the structure. However, if the manager does not have the financial ability to exercise its rights under the buy-sell provision, the substance of this provision may be a call option by the transferor.Again, this may be an indication that the manager is simply acting as an agent on behalf of the reporting enterprise. At the same conference, James Kroeker, chief accountant in the SECs Office of the Chief Accountant, indicated that the staff would consider involving the Division of Enforcement if it becomes aware of arrangements such as those discussed by Mr. Wilgenburg. Scope and Scope Exceptions ASC 810-10 15-12 a. b. c. d. e. The guidance in this Topic does not apply in any of the following circumstances An employer shall not consolidate an employee benefit computer programme subject to the provisions of Topic 712 or 715. Subparagraph superseded by Accounting Standards Update No. 009-16 Subparagraph superseded by Accounting Standards Update No. 2009-16 Investments accounted for at fair value in accordance with the specialized accounting guidance in Topic 946 are not subject to consolidation according to the requirements of this Topic. A reporting entity shall not consolidate a governmental organization and shall not consolidate a financing entity established by a governmental organization unless the financing entity meets both of the following conditions 1. 2. Is not a governmental organization Is used by the business entity in a manner similar to a (VIE) in an effort to circumvent the provisions of the Variable Interest Entities Subsections. Paragraph 4 5-17 The following exceptions to the Variable Interest Entities Subsections apply to all legal entities in addition to the exceptions listed in paragraph 810-10-15-12 a. Not-for-profit entities (NFPs) are not subject to the Variable Interest Entities Subsections, except that they may be related parties for purposes of applying paragraphs 810-10-25-42 through 25-44. In addition, if an NFP is used by business reporting entities in a manner similar to a VIE in an effort to circumvent the provisions of the Variable Interest Entities Subsections, that NFP shall be subject to the guidance in the Variable Interest Entities Subsections. Separate accounts of life insurance entities as described in Topic 944 are not subject to consolidation according to the requirements of the Variable Interest Entities Subsections.A reporting entity with an inter est in a VIE or potential VIE created before December 31, 2003, is not required to apply the guidance in the Variable Interest Entities Subsections to that VIE or legal entity if the reporting entity, after making an exhaustive effort, is unable to obtain the information necessary to do any one of the following 1. 2. 3. Determine whether the legal entity is a VIE Determine whether the reporting entity is the VIEs primary beneficiary Perform the accounting required to consolidate the VIE for which it is determined to be the primary beneficiary. b. c. 9 ASC 810-10 (continued) This inability to obtain the necessary information is expected to be infrequent, especially if the reporting entity participated significantly in the design or redesign of the legal entity. The scope exception in this provision applies only as long as the reporting entity continues to be unable to obtain the necessary information.Paragraph 810-10-50-6 requires certain disclosures to be made about interests in VIE s subject to this provision. Paragraphs 810-10-30-7 through 30-9 provide transition guidance for a reporting entity that subsequently obtains the information necessary to apply the Variable Interest Entities Subsections to a VIE subject to this exception. d. A legal entity that is deemed to be a business need not be evaluated by a reporting entity to determine if the legal entity is a VIE under the requirements of the Variable Interest Entities Subsections unless any of the following conditions exist (however, for legal entities that are excluded by this provision, other generally accepted accounting principles GAAP should be applied) 1.The reporting entity, its related parties (all parties identified in paragraph 810-10-25-43, except for de facto agents under paragraph 810-10-25-43(d)), or both participated significantly in the design or redesign of the legal entity. However, this condition does not apply if the legal entity is an direct joint venture under joint control of the re porting entity and one or more independent parties or a franchisee. The legal entity is designed so that easily all of its activities either involve or are conducted on behalf of the reporting entity and its related parties. The reporting entity and its related parties provide more than half of the total of the equity, subordinated debt, and other forms of subordinated financial support to the legal entity based on an analysis of the fair values of the interests in the legal entity.The activities of the legal entity are primarily related to securitizations or other forms of asset-backed financings or single-lessee leasing arrangements. 2. 3. 4. A legal entity that previously was not evaluated to determine if it was a VIE because of this provision need not be evaluated in future periods as long as the legal entity continues to meet the conditions in (d). Paragraph 4 Overall Scope Considerations 1. 03 Application of the VIE Model in ASC 810-10 to Non-SPEs Question Does the VIE model in ASC 810-10 apply only to SPEs? Answer No. ASC 810-10-15-12 and 15-17 provide scope exceptions for certain reporting entities and potential VIEs.Variable interest holders should evaluate all entities that do not fall under these scope exceptions (such entities may include limited partnerships, joint ventures, cooperatives, and trusts) to determine whether they represent VIEs. (For more information about the determination of which consolidation model to apply, see Q&A 1. 01. ) Note that ASU 2009-16 eliminated the scope exception for QSPEs. Therefore, transferors, sponsors, and investors in QSPEs should consider the consolidation and disclosure provisions in ASC 810-10. (For more information about the elimination of the QSPE scope exception, see Q&A 1. 07. ) 1. 04 Qualification of a SPE as a Voting Interest EntityIf an SPE is a VIE, it is subject to consolidation under the VIE model in ASC 810-10. Question Are all SPEs automatically considered VIEs and within the scope of the VIE mo del in ASC 810-10? Answer No. An SPE can qualify as a voting interest entity and therefore be outside the scope of the VIE model in ASC 81010. To determine whether the SPE is outside the scope of the VIE model, a reporting entity must evaluate the SPE under ASC 810-10-15-14. To not be a VIE, such an entity must fail to satisfy all conditions in ASC 810-10-15-14. Demonstrating only that an entity possesses one attribute of a voting interest entity, as described in ASC 810-1015-14 (e. g. simply having sufficient equity investment at risk, giving the equity holders voting rights with respect to activities of the entity), is not sufficient evidence that an entity is not a VIE. 10 If an entity is outside the scope of the VIE model in ASC 810-10, it should be considered for consolidation under the voting interest model in ASC 810-10. 1. 05 Application of the VIE Model in ASC 810-10 to Multitiered Legal Entity Structures Question In an ownership structure in which multiple layers of legal entities exist, should a reporting entity apply the VIE model in ASC 810-10 to each of its subsidiaries on a consolidated or nonconsolidated basis? AnswerIn a multitiered legal-entity structure, a reporting entity should generally begin its evaluation at the lowest-level entity. Each entity within the structure should then be evaluated on a consolidated basis. The attributes and variable interests of the underlying consolidated entities become those of the parent company upon consolidation. When a reporting entity applies the VIE model in ASC 810-10 to a consolidated entity, it should analyze the design of the consolidated entity, including an analysis of the risks of the entity, why the entity was created (e. g. , the primary activities of the entity), and the variability the entity was designed to create and pass along to its interest holders (see ASC 810-10-25-21 through 25-36).Note that there are situations in which a reporting entity may look through a holding company and in wh ich it therefore would not be required to examine the structure on a consolidated basis. For more information, see Q&A 1. 06. Example 1 Two investors each hold 50 percent of the ownership interests in Company H. Company H has 100 percent of the ownership interests in Entity X and consolidates X. Entity X is a business as defined in ASC 805 and represents substantially all of Hs consolidated activities and cash flows. On a nonconsolidated basis, H does not meet the definition of a business in ASC 805. There are no other relationships or agreements between the investors, H, or X.As noted above, the attributes of a consolidated entity become the attributes of the parent company. In this example, Xs attributes become those of H. When the investors are evaluating their ownership interests, they should consider Hs design on a consolidated basis. Because X meets ASC 805s definition of a business and its activities and cash flows represent substantially all of Hs consolidated activities and cash flows, H also meets ASC 805s definition of a business. Before applying the business scope exception, the investors must first determine whether any of the four conditions in ASC 810-10-1517(d) exist for Hs consolidated activities and cash flows. If so, the business scope exception cannot be applied.A holding company that has ownership interests in a single entity in multitiered structures should also consider the guidance in Q&A 1. 06. Example 2 Two investors each hold 50 percent of the ownership interests in a holding company. The holding company has 100 percent of the ownership interests in Entity E and consolidates E. Entity E meets ASC 805s definition of a business and represents substantially all of the holding companys consolidated activities and cash flows. The holding company also consolidates Entity N, which does not meet ASC 805s definition of a business. Other than its investments in E and N, the holding company has no assets, liabilities, or activities. There are n o other relationships or agreements between the investors, the holding company, E, or N.As in Example 1, the attributes of the consolidated entity become those of the parent company. In this example, the attributes of E and N become those of the holding company. When the investors are evaluating their ownership interests, they should consider the holding companys design on a consolidated basis. Because substantially all of the holding companys consolidated activities and cash flows are derived from E, the holding company meets ASC 805s definition of a business. Before applying the business scope exception, the investors must first determine whether any of the four conditions in ASC 810-10-15-17(d) exist for the holding companys consolidated activities and cash flows.If so, the business scope exception cannot be applied. 11 Example 3 An investor holds 50 percent of the ownership interests in a holding company. The holding company consolidates the following two entities, both of which meet ASC 805s definition of a business EntityJ,anoperatingentity. EntityL,whoseonlyassetisabuildingthatisleasedtotheinvestor. Entity Ls activities and cash flows represent substantially all of the holding companys activities and cash flows. Other than its investments in J and L, the holding company has no assets, liabilitie

How significant is the theme of loneliness in Of Mice and Men? Essay

Loneliness is a state of detachment, separation, and isolation and a feeling of being friendless(prenominal) and forlorn. The book Of Mice and Men by tail end Steinbeck picks up this feeling as one of its main themes. Several characters from the novel either isolate themselves or atomic number 18 being isolated. The main characters George and Lennie on the other hand hand a strong relationship and many others envy them for this but even those two find themselves confronted with loneliness in both(prenominal) way.The two protagonists George and Lennie have a special kind of relationship and this makes them stand out from the others. Many of the other characters are very lonely and even Slim, the most popular worker on the farm, how special and rare George and Lennies relationship is. By sharing a dream together they relieve themselves of their loneliness. Both are in some way dependant on each other and that is exactly what many others search for. Crooks comments on his own loneli ness by adage that a guy goes nuts if he aint got nobody. Candy and Crooks are two characters, who are excluded because of physical features and they both admire George and Lennies friendship.Candy is an sr. man who lost a hand during his work on the farm. He feels he is excluded from the others and very much holds on too his old tail. After this dog is shot he looses an important part of his life. One could draw some kind of comparison between the relationship of Candy and his dog and George and Lennie. Both of these two have a similar kind of dependency on each other and without each other they no longer have somebody or something to look out for. So after Candy has lost his dog he offers George and Lennie his money in order for them to allow him to critical point them in their dream. This shows how little all of his savings mean to him if he can have just someone around him. Not only Candy though shows his loneliness and has suffered from it.Crooks, the black stable-buck, sha res a similar fate to the old Candy. At the time the novel takes place black people were looked down upon and excluded. Crooks clearly suffers beneath this and although he initially displays aggressiveness, the reader can still sympathize with him because it is rather clear that this origins from his isolation and loneliness. When Lennie enters his bunk house he at first tries to moult him out but then decides to tease Lennie by asking him what would happen when George wouldnt return.This displays Crooks curiosity for the type of bond that exists between George and Lennie. fifty-fifty though he does non believe Georges and Lennies dream will ever come true and even though he at first seems rather rejective towards the other characters he decides to ask whether he can join them. Demonstrating his strong longing for companionship. One more character though experiences loneliness even though it is not for the same reasons as for Crooks and Candy.Curleys wife is excluded for differe nt than Candy and Crooks but experiences the same kind of injustice. As she mentions, she is not very happy with her husband Curley. Therefore she flirts with the other men one the ranch but they try to keep away from her. They are afraid of acquire in trouble with Curley and and so she very much is isolated from everyone on the ranch. In Lennie she finds someone she can tell her feelings to because he cannot care any less about it and does not understand the reasons for her being isolated. This is her downfall but in someway frees both of them from their curse. Curleys wife dies even though she is married in loneliness.Lennie would without George have no chance in the hard life of that time. In George Lennie not only found a protector but also someone to relieve him from his doom of being lonely. The other men left on the farm are all in some way lonely. Even though they keep contact they do not have anyone to look after or to take care of. Exactly that is where George and Lennie differentiate themselves from the others.All characters in the novel, as well as George and Lennie, are in some way lonely, whether it is because some physical feature, their age, their sex or simply because of the circumstances of the time. They all had lost their goals on the way and therefore the connection to the people around them. George and Lennie on the other hand have a bond that connects them on two levels first of all the dependency on each other and second of all their shared dream.

Adulthood Interview Essay

Background/IntroductionThe following interview was conducted with the subject known as George who is in the middle adult stage of life. George is 48 years old and is an auto mechanic. He lives at home with this wife and two daughters in San Diego, California. George is in Erik Eriksons seventh stage of psychosocial development which is the Generativity vs. stagnation stage. In this stage, work and p arenting are important factors that affect his life.Physical CharacteristicsPhysical Characteristics weight and height health overall/concerns physical activity overall living/ eraseing patterns patterns of consumption (i.e., alcohol, caffeine, smoking) significant changes in sexuality from young adulthood stage in menopause sleep patterns sexual dysfunction/satisfaction are they above or below life expectancy accidentsAs a person grows in age, along comes physical changes and possible health problems. In Georges case, he appears to be rattling physically fit however, I wise to(p) fr om the interview that he previously had some health issues that involved hospitalization which caused him to lately change his dietary habits. George was at risk of having a series of colon cancers and constantly had excruciating stomach pains. After being hospitalized for three days, the results showed no incontrovertible signs of cancer but his doctor gave a strict diet and urged him to exercise more regularly. When asked ab break through his current eating patterns and physical activities, George revealed that he makes an effort to eat more vegetables and fruits and has cut off on fried foods and carbohydrates. He withal makes sure to take a walk to the park near his home with his wife every day after dinner. George does not smoke but he does occasionally drink alcohol and caffeine. His alcohol and caffeine consumption is low which is wherefore they do not have a significant impact on his health. He described that as he gets older his sleepingpatterns have been changing as we ll. He used to be able to stay up past midnight but now he gets tired very easily and must sleep before 10 P.M.Cognitive CharacteristicsCognitive Characteristics Piagets sub-stage changes in intellectual abilities speed/accuracy of information processing (you can use a memory test) changes in creativity/learning gibe to Piagets theory on the formal operations stage, adolescents should have the capacity for flexible, reversible operations concerning arise ideas and concepts, such as symbols, statements, and theories (Rathus, 2013). Rathus also discusses that adolescents perform hypothetical thinking, which is when they systematically try out different possibilities in their minds to solve a problem. Formal operations discontinue the adolescent skills of logical thought, deductive reasoning, and systematic planning to assist their problem-solving. In terms of Patricks hypothetical thinking from the interview, he seems to be on overcome with this level of thinking. For example, I a sked him about what approach he takes when solving a problem and he said that he takes into account all of the different options he has and does everything one step at a time.Piaget coined adolescent egocentrism as comprehending ideas of other plenty, but having difficulty sorting out those things that concern other people form the things that concern themselves (Rathus, 2013). I tested my subjects cognitive development by giving him a preset list of 10 wording words and asking him to define each word to the best of his ability. I gave him a minute to clearly define the word. He defined 8 out of 10 words correctly which shows that his cognitive skills are on the right path. Patrick admitted that he used to struggle with balancing schooltime and sports and had to attend tutoring lessons to raise his grades. He now has a 3.6 GPA and is expecting to attend San Diego State University in the fall. His strongest subject is math and science.Psychological/Emotional CharacteristicsPsychol ogical/Emotional Characteristics Eriksons stage undefiled developmental tasks (Havighurst) any emotional crisis evident? changes in life events challenges in well-being shifts in personality employmentsatisfaction evidence of wisdomAccording to Erik Eriksons psychosocial development, adolescents go through the ego identity operator versus role diffusion stage where they are figuring out who they are as a person. fork off of Eriksons approach, James Marcia proposed four identity statuses that he believes represents a stage an individual is going through in seeking their identity identity diffusion, identity foreclosure, identity moratorium, and identity achievement. Adolescents in high school usually move from the diffusion and foreclosure stage to the moratorium and achievement statuses (Bartoszuk & Pittman, 2010).I also discussed the topic of sift with my subject and he revealed that school is his main source of stress, I simply applied to colleges last fall and finally recei ved some acceptance garner last month. I have been stressing like crazy and thought I wouldnt get into any schools Patrick appears to have a strong sense of self-concept and also high self-esteem. He described himself as responsible, friendly, and competitive and that having supportive friends and family have helped him maintain a good self-esteem. In regards to sexuality, Patrick said that he is interested in lady friends but does not have anything against homosexuality as he has friends who are gay and lesbian.Social CharacteristicsSocial Characteristics Typical interactions with others, with you evolution of parent-child relationship grandparenting change in caring for parents relationships with siblings/friends widowhoodAccording to the textbook, adolescents are heavily influenced both by parents and peers (Rathus, 2013). When asked about his interactions and relationships with others, Patrick described his friends and family as the most important aspects of his life. He and hi s father used to impart basketball together when he was younger which fueled his love for the sport. Although he is a part of the schools basketball team, he does not bowl over himself to be a jock or popular. Aside from basketball, Patrick enjoys playing video games and is interested in computers. He described himself as an average teenage son who loves playing sports and all things electronics. The relationship between his family members and friends werealso further discussed in the interview. Patrick says that he has not have much time to spend with his family since high school started but his relationship with his parents has grown stronger as he grows older. Patrick and his sister are four years apart in age and have a very strong bond. They both play basketball which Patrick said has created a friendly sibling rivalry.Patrick described that an average Sunday with his family consisted of going to church, having brunch, going to the beach and wherefore renting a film from Red box. Patrick thinks that his parents are strict but flexible at the same time. I asked him to elaborate more on this thought and he explained that they have high expectations for him in regards to his education and that they told him that he needs to have a 3.5 GPA and above to participate in any sports which motivates him to do well in school. His parents have helped him look into different universities and career path options but it is ultimately his decision on what he wants to do with his future. The textbook describes this caseful of parenting style as the authoritative style in which parents know what they want their children to do but also respect their children and are warm toward them (Rathus, 2013). This parenting style usually contributes to an adolescents sense of high self-esteem and independence.The circle of friends that Patrick interact with share many similarities, they play the same sports and video games, and also like to listen to the same type of music. When as ked what he and his friends do for fun after school or on the weekends, Patrick said that they usually go to one persons house and just play a game of NBA 2K14 for a couple of hours or play a few games of basketball. He described his relationship with his friends as chill and fun. In regards to his dating life, Patricks relationships tend to be rather short his longest relationship lasted for about six months. He shared that there is a girl who he is interested in and plans to ask her to the senior prom coming up in a few months. Patrick previously had a part-time job at a retail store but quit due to his grades dropping. It has been proven that adolescents who work after school obtain lower grades (Rathus, 2013).moral characteristicsMoral characteristics Any changes since early adulthoodAccording to Lawrence Kohlberg, adolescence is the period in life whereindividuals become capable of formal-operational thinking, allowing them to make decisions by using ethical principles (Rathus, 2013). Patrick defined a command as a set of principles that should be strictly followed. I asked him why he thinks rules should be obeyed and to give an example of when it is okay to break a rule and his response was, rules are made so that things will run smoothly and rules can be broken if it is necessary to save someones life. Based on this response, Patrick is taking the perspective of stage 6 of Kohlbergs postconventional level of moral development in which it is acceptable to break a rule/law in order to preserve a life regardless of the consequences this may bring.AnalysisI enjoyed doing this interview because it gave me a better understanding of how it would be to personally interact with another human being especially since I am interested in majoring in Human Development. It was quite intimidating and trying at first since I have never interviewed anyone before and I felt very inexperienced. By the middle of the interview, I felt less nervous and began getting the han g of it. After the interview, I realized that I should have asked more questions in regards to moral development. Overall, this was a great learning experience and I feel more confident for the next interview that I will have to conduct for the class. I look forward to using the skills I learned from this interview and applying it for future experiences.ReferencesBartoszuk, K., & Pittman, J. F. (2010). Profiles of identity exploration and commitment across domains. Journal of Child and Family Studies, 19(4), 444-450. Rathus, S. A. (2014). Hdev3. (3rd ed.) Belmont, CA Cengage Learning.

Analysis of Food Inc. Essay

Studies have shown that many people all over the world be unaware of where their diet comes from. When an individual goes to consume a food product, he or she could be completely oblivious to the methods of manufacture, processing, incase or transportation gone into the production of the food item. It is often said that ignorance is bliss possibly this rings true in the case of food, its origins and its consumption as intimately. In much(prenominal) a scenario, eating well could seem like an unlikely prospect. The rendering of eating well in modern times seems to have gone from eating healthily, to eating ethically.The manner in which food is produced and consumed has changed more(prenominal) rapidly in the past fifty years than it has in the previous ten thousand years (Pollan and Schlosser, 2008). With this swift transformation, various ethical issues came to the fore. regimen production is now do large scale in factories, rather than in farms. Mass production of various types of food, from crops and vegetables to seafood and meat, is really often the norm. The fact that food is mass produced nowadays is already something that a lot of people do non know about. The reason behind this is that food producing firms do not want the consumers their customers to know too much about the food manufacturing industry (Pollan and Schlosser, 2008), in the fear that customer loyalty could be lost upon their finding out various truths. To retain their customer base, harmonize to documentary film viands, Inc., narrated by Michael Pollan and Eric Schlosser, the image associated with food in the United States of America is that of an American farmer. Various motifs plastered all over food packaging and advertisements for food products, much(prenominal) as green pastures for grazing cattle, picket fences, the typical farmhouse, vast meadows and, most importantly, the farmer, lead consumers to believe that their food still comes from farms, or at least a past oral version of small time cottage industries. With these motifs constantly pervading the sensibilities of the average American consumer, it is little wonder that the consumer continues to eat unethically they are simply in the dark. Because what these motifs represent could not be further from the reality. The apparent crop central to all mass food production, as shown on Food Inc (Pollan and Schlosser, 2008) and alluded to in Pollans book, In The Omnivores Dilemma (2006), is lemon yellow. Corn is used in a vast assortment of ways in the food manufacturing industry. Besides, of course, existence a food crop for direct consumption by humans, it is used to make a range of additives in processed food too, such as high fructose clavus syrup, ascorbic acid, xanthan gum, et cetera. Corn is also a significant constituent of animal fodder, and is fed to almost all kinds of livestock.These include animals that are not meant, by evolution, to eat corn, such as cattle and fish (Pollan an d Schlosser, 2008). The massive demand for corn is only counterbalanced by the massive supply of corn in the United States. This is out-of-pocket to the American government subsidising the cost of production of corn, encouraging corn farmers to produce more than the amount is truly required. Because of such plodding subsidies, corn becomes extremely cheap, produced at merely a fraction of its cost of production, and results in an enormous scale of production of corn. This manner of overproduction and consumption of corn alone raises a few ethical issues. First of all, the feeding of corn to cows and fish not the natural food of such animals causes immense problems to these animals, which could aim about serious repercussions to humankind as well. Take for instance, the feeding of corn to cows. Because corn is produced extremely cheaply, meat manufacturers are inclined to use corn as their choice of feed for their livestock, in order to cut down on the selling price of meat. Stu dies have shown that feeding corn to cows has brought about the outlet of a new, acid resistant fund of E.coli bacteria (Pollan and Schlosser, 2008). This, coupled with the terrible rearing conditions of the cows, causes the new strain of E.coli to get into the meat meant to be eventually sold. This strain of bacteria has proven to be dangerous, having claimed the lives of many people. Knowing this, the expected public reaction would be an outcry against the food manufacturing industry, demanding answers and greater, better checks of food producing companies. However, even such reactions may not yield any permanent solutions. According to Food Inc., food regulatory bodies are being led by people from the very firms they are meant to regulate. This has appeared to cause certain food monitoring measures to become relaxed, such as a sharp decline in number of checks conducted by the Food and Drug Administration (FDA) of the United States, from 50 000 in 1972, to 9164 in 2006. One wom ans constant lobbying for better checks and regulation after her son, Kevin, passed away due to contaminated food brought about a Kevins Law, which, six years into her efforts, still had not been passed (Pollan and Schlosser, 2008).There is little surprise that the food produced nowadays is getting more and more dangerous for consumption. Given these circumstances, eating well has become even more unlikely the general publics efforts to guarantee the quality of their food gets constantly thwarted by powerful corporate and political institutions. Still, all does not seem to be lost. Some farmers are recognising the have to de-industrialise the production of foodstuff. Michael Pollans All variant is Grass talks about a grass farmer, Joel Salatin, who is a non industrial producer of food, and whose methods of production drift around grass. (2006). Big Organic, another article by the same author, describes how food products in the whole foods aisle are properly farmed, as contradi ctory to mass manufactured, therefore being processed or refined as little as possible. There are two downsides to be noted in both instances. For one, Joel Salatin produces foodstuff only for the local population, and expressly refuses to supply meat and other animal by-products from his relatively healthier farm animals all over the country. As a result, his ideas of rearing animals, as opposed to manufacturing them, by feeding them what they are meant to instead of cheaply obtained corn, are restricted to the borders of Swoope, Virginia (Pollan, 2008). On the other hand, to supply such products to various parts of the country, or the world, would fly in the face of the idea of sustainable food production practices. This presents quite a paradox. Another downside would be the added depreciate of consuming whole foods in the place of processed and mass produced food.One of the core reasons for choosing to malnourish animals by blanket feeding them corn, despite the negative implic ations, was the ending driving down of cost of production of meat. This is how the average American consumer is able to put away two hundred pounds of meat every year (Pollan and Schlosser, 2008), otherwise such large quantities of meat may not be as easily produced. People nowadays have the excerption of buying meat and animal by-products derived from freerange animals referring to animals that are left to roam freely to feed, instead of restricting their movement in enclosures for slightly more money. In economic terms, consumers seek products that minimises costs magic spell maximising benefit. In this case, consumers are ostensibly unmoved by the prospect of consuming meat and other products from ethically raised animals, favouring instead, the cheaper, corn fed, mass produced alternatives. With this mind to begin with, ethical eating habits would be difficult to foster. Completely giving up consumption of animal products and by-products entirely (i.e. becoming vegan) has becoming a emerging phenomenon all over the world. It seems, to many vegan converts, to be the move that could galvanise the promotion of sustainable agriculture and animal welfare into action. However, according to an article on The Conversation, tell the vegetarian meal? Theres more animal blood on your hands, turning vegan, or even simply vegetarian, could be more detrimental than helpful (The Conversation, 2011). To provide the extra plants required to feed the changing diets of Australians alone would mean clearing native flora and fauna off arable area the size of Victoria plus Tasmania (The Conversation, 2011) already killing off a vast amount of animals and native plants to make way for plant based food. The higher up scenarios only serve to confuse the consumer even further. Most consumers do not have any way around purchasing food off the supermarket shelves that are, more often than not, tainted by ethical quandaries such as animal welfare issues etc. They also don t exactly have the option of changing their diets to spare the lives of animals, as the result could be more damaging that the current situation. As such, an ostensible impasse seems to present itself regarding this issue. In my opinion, eating well ethically, and with as little animal blood on consumers hands will never truly be viable in modern society.Bibliography Pollan, M. (2006), All Flesh is Grass, In The Omnivores Dilemma, Penguin Press hot York, pp. 123-133 Pollan, M., Schlosser, E., 2008, Food Inc.,Available at Accessed 19th May, 2013 Pollan, M. (2006) Big Organic, In The Omnivores Dilemma, Penguin Press New York, pp. 134-184. The Conversation, 2011, Ordering the vegetarian meal? Theres more animal blood on your hands online Available at Accessed 19th May, 2013