Restructuring Debt Essay Example for Free

Restructuring Debt Essay One appreciates the recommendation of providing information on restructuring debt to help the company combat its recent financial troubles. Even though the company is in the process of reorganizing one believes this information will help a company in reporting the restructuring of debt. One will provide information on the requirements of reporting debt on bonds, notes, and capital leases. In performing this one will also provide the journal entries one would need to record to restructure the company’s debt along with a comparison of the debt for the company’s current reporting. One will also provide valuable information on the company’s postemployment benefits. Requirements for Reporting Debt Long-term debts for a company are present obligations that consist of probable future sacrifices of economic benefit, which â€Å"are not payable within a year or within the operating cycle of the company† (Kieso, Weygandt, Warfield, 2007, p. 672). Generally long-term debt consists of three categories, which are bonds payable, notes payable, and capital leases. In financial reporting one of the most controversial areas is the reporting of long-term debt because this debt impacts the cash flows of a company (Kieso, Weygandt, Warfield, 2007, p. 691). The reporting requirements of the debt must be both substantive and informative to the investor. Some long-term debt such as bonds, notes, and others may need approval by the board of directors and stockholders before a company acquires the debt. Most long-term debt a company acquires has certain ovenants or restrictions within its agreement. This helps protect both the lender and borrower. A company must disclose the features along with any covenants or restrictions in the agreement of long-term debt in the financial statements or in the notes of the financial statements. This is only if the information provides an investor a more â€Å"complete understanding of the financial position of the company and the results of its operations† (Kieso, Weygandt, Warfield, 2007, p. 672). Bonds Payable  Bonds basically represent a contract of a promise to pay at a maturity date a sum of money plus a specified rate of periodic interest on the maturity amount. Bonds can be either secured or unsecured. Secured bonds have some pledge of collateral that backs up the bond. An example of this type of bonds is a â€Å"mortgage bond secured by a claim on real estate† (Kieso, Weygandt, Warfield, 2007, p. 673). Unsecured bonds are bonds that do not have any collateral attach to them. Most bonds carry a specific rate of interest whereas others are sold with an implied interest rate at a discount. One can convert some bonds into other securities. No matter what bond a company acquires the terms and conditions of the bond must be disclosed along with the covenants or restrictions on the bond. A company must also disclose any violation on the covenant or restrictions of the bond. In reporting bonds a company must report the bond at its face value â€Å"of its expected future cash flows, which consists of interest and principal† (Kieso, Weygandt, Warfield, 2007, p. 675). The company amortizes any discount or premium of a bond over the life of the bond. This basically is reporting the bond at its face value less the unamortized discount or plus the unamortized premium. General Accepted Accounting Principles (GAAP) requires a company to use the effective- interest method in determining the amortization of a discount or premium of a bond. A company reports the portion of the bond that matures within a year (current portion) as a current liability, and the remainder as a long-term liability on the balance sheet. Notes Payable Notes payable are generally an amount of money a company borrows with a romissory note. Long-term notes are similar and different from bonds in some ways. The similarity is notes payable also â€Å"have fixed maturity dates and carry either a stated or implicit interest rate† (Kieso, Weygandt, Warfield, 2007, p. 685). The difference is notes payable are not easily tradable. A company reports notes payable in a similar fashion as it does bonds. In reporting a note payable a company records the note at its face value of its future interest and principal cash flows. The company amortizes any discount or premium of a note over its life. If a note has no-bearing interest rate the company should report the difference between the face value and the cash received as a discount on the note. This amount one amortizes over the life of the note to interest expense. Capital Leases A company may use capital leases to finance its acquisition of capital assets. In lease financing a company must met the criteria of the Financial Accounting Standards Board (FASB) on capital leases. In this a company must record both a liability, and a related asset on its balance sheet. In reporting capital lease a company reports the lease at its present value of the minimum lease payments. The company allocates these lease payments using the effective interest method to interest expense. This allocation using the effective interest method reduces the lease liability of the company. A company regardless of the type of liability it has must report the interest rate, maturity date, current interest expense, and future interest and principles payments of the liability in its financial statements or notes. A company should also disclose any restrictions or covenants on these liabilities. In disclosing this debt a company should present the debt by major category.

Tragedy and the Common Man - Miller Redefines the Tragic Hero :: Tragedy and the Common Man Essays

Tragedy and the Common Man - Arthur Miller redefines the Tragic Hero Arthur Miller states in his essay, "Tragedy and the Common Man," " . . . we are often held to be below tragedy--or tragedy below us . . . (tragedy is) fit only for the highly placed . . . and where this admission is not made in so many words it is most often implied." However, Miller believes " . . . the common man is as apt a subject for tragedy in its highest sense as kings were" (1021). It is this belief that causes Miller to use a common man, Willie Loman, as the subject of his tragedy, Death of a Salesman. Miller redefines the tragic hero to fit a more modern age, and the product of this redefinition is Willie. Miller states, " . . . the tragic feeling is evoked in us when we are in the presence of a character who is ready to lay down his life . . . to secure one thing, his sense of personal dignity" (1021). Willie is no exception. Willie's sense of personal dignity is primarily found in his family, most notably his son Biff. Willie transfers his dreams of being great onto Biff and, when Biff is a failure in the world, these dreams affect Willie's self-image and sense of personal dignity. To regain this personal dignity, Willie must make Biff great. In the end, it is the love for his son and the belief that his insurance money will make Biff "magnificent" that give him the needed excuse and cause him to end his life. "Tragedy, then, is the consequence of a man's total compulsion to evaluate himself justly" (1021). It is the nature of man to make evaluations of himself based upon his peers. Willie's peer with whom he evaluates himself is Charley. Willie and Charley are about the same age, their children grew up together, and have been friends for many years. Charley has achieved what Willie has dreamed of for so long. Charley's son is a successful lawyer, whereas Biff is a loafer. Charley is successful in business, whereas Willie has "washed out." As mentioned before, for Willie to be great, Biff must be great. Willie has failed his job in making Biff better than Charley's son, therefore he fails his evaluations of himself. "The flaw Tragedy and the Common Man - Miller Redefines the Tragic Hero :: Tragedy and the Common Man Essays Tragedy and the Common Man - Arthur Miller redefines the Tragic Hero Arthur Miller states in his essay, "Tragedy and the Common Man," " . . . we are often held to be below tragedy--or tragedy below us . . . (tragedy is) fit only for the highly placed . . . and where this admission is not made in so many words it is most often implied." However, Miller believes " . . . the common man is as apt a subject for tragedy in its highest sense as kings were" (1021). It is this belief that causes Miller to use a common man, Willie Loman, as the subject of his tragedy, Death of a Salesman. Miller redefines the tragic hero to fit a more modern age, and the product of this redefinition is Willie. Miller states, " . . . the tragic feeling is evoked in us when we are in the presence of a character who is ready to lay down his life . . . to secure one thing, his sense of personal dignity" (1021). Willie is no exception. Willie's sense of personal dignity is primarily found in his family, most notably his son Biff. Willie transfers his dreams of being great onto Biff and, when Biff is a failure in the world, these dreams affect Willie's self-image and sense of personal dignity. To regain this personal dignity, Willie must make Biff great. In the end, it is the love for his son and the belief that his insurance money will make Biff "magnificent" that give him the needed excuse and cause him to end his life. "Tragedy, then, is the consequence of a man's total compulsion to evaluate himself justly" (1021). It is the nature of man to make evaluations of himself based upon his peers. Willie's peer with whom he evaluates himself is Charley. Willie and Charley are about the same age, their children grew up together, and have been friends for many years. Charley has achieved what Willie has dreamed of for so long. Charley's son is a successful lawyer, whereas Biff is a loafer. Charley is successful in business, whereas Willie has "washed out." As mentioned before, for Willie to be great, Biff must be great. Willie has failed his job in making Biff better than Charley's son, therefore he fails his evaluations of himself. "The flaw

Unit G Psychology 101

1. Glucose is: A. the hormone produced by fat cells that signals the hypothalamus, regulating hunger and eating behavior. B. the neurotransmitter that promotes satiation and produces feelings of fullness as you eat. C. also called the â€Å"hunger hormone† because its presence in the lining of the stomach strongly stimulates appetite. *D. also called blood sugar and is the primary source of energy in your body. 2. Which of the following is NOT a valid criticism of Maslow's theory of motivation?A. Maslow's initial studies on self-actualization were based on limited samples and often relied on the life stories of acquaintances, and biographies and autobiographies of historical figures he selected. B. The concept of self-actualization is vague and almost impossible to define in such a way that it could be empirically measured or tested. C. Despite the claim that that self-actualization is an inborn motivational goal, most people do not experience or achieve self-actualization. * D. Because of Maslow's influence, psychology was encouraged to focus on the motivation and development of psychologically healthy people.3. Psychologists define the term _____ as a complex psychological state that involves subjective experience, a physiological response, and a behavioral or expressive response. A. motivation *B. emotion C. self-efficacy D. anthropomorphism4. Which of the following lists the correct seq uence of sleep stages during the first 90 minutes of sleep? * A. stage 1 NREM, stage 2 NREM, stage 3 NREM, stage 4 NREM, REM sleep B. REM sleep, stage 4 NREM, stage 3 NREM, stage 2 NREM, stage 1 NREM C. stage 1 REM, stage 2 REM, stage 3 REM, stage 4 REM, NREM D. wakefulness, drowsiness, dreaming, deep sleep, paradoxical sleep5. Sleep restriction studies have shown that: A. research participants adapted to the four-hour-per-night sleep schedule by the end of the first week and showed no cognitive or physical impairments over the course of the experiments. B. there were some beneficial effects in terms of memory consolidation, reaction time, and immune system functioning. * C. mmune system functioning, concentration, vigilance, reaction time, memory skills, and ability to gauge risk were all diminished. D. there is no evidence to support the notion that REM and NREM sleep deprivation result in REM and NREM rebound effects.6. Sleepwalking and sleep terrors are _______ that tend to occu r in _______. *A. parasomnias; stages 3 and 4 NREM sleep B. parasomnias; REM sleep C. dyssomnias; stages 1 and 2 NREM sleep D. dyssomnias; REM sleep7. Which of the following is an example of a parasomnia? A. insomnia B. narcolepsy C. obstructive sleep apnea *D. leep-related eating disorder (SRED)8. Scientists found that diminished levels of a special class of neurotransmitter called hypocretins, which are produced by neurons in the hypothalamus, have been implicated in a sleep disorder called _______. * A. narcolepsy B. obstructive sleep apnea C. sexsomnia D. somnambulism9. Heroin, cocaine, amphetamines, alcohol, and nicotine are all addictive drugs that increase levels of which neurotransmitter in the brain? A. serotonin B. melatonin C. norepinephrine * D. dopamine10. Caffeine: * A. is the most widely used psychoactive drug in the world. B. gets its stimulant effect by promoting the release of adenosine in the brian's prefrontal cortex. C. gets its stimulant effect by blocking the reuptake of dopamine, serotonin, and norepinephrine. D. is the most widely used non-physically addictive drug in the world.11. Which of the following is a derivative of opium? A. mescaline B. Oxycontin C. psilocybin * D. codeine12. According to _____ theories of motivation, behavior is motivated by the desire to reduce internal tension caused by unmet biological needs. A. incentive * B. drive C. humanistic D. instinct13. According to the _____ theory of emotion, your subjective emotional experience is the direct result of physical changes in your body. *A. James-Lange B. cognitive-appraisal C. self-determination D. Schachter-Singer two-factor14. Happiness, sadness, anger, fear, disgust, and surprise comprise the list that Paul Ekman calls: A. the facial code. B. facial movements. C. the primary code. * D. primary affects.15. When people mask an emotion: A. it is impossible to detect their true emotion. *B. the true emotion flashes on their face before they compose their face. C. the true emotion can be read in their eyes. D. their facial muscles always twitch.16. How do Psychoactive drugs work? -once in our bloodstream, psychoactive drugs influence our behavior by altering the functioning of the central nervous system in some way.17. What is anger? What features does anger share with other emotions? – Anger is â€Å"an emotional state that varies in intensity from mild irritation to intense fury and rage,† Like other emotions, it is accompanied by physiological and biological changes; when you get angry, your heart rate and blood pressure go up, as do the levels of your energy hormones, adrenaline, and noradrenaline.18. Define dyssomnia- A general term used to describe any sleeping condition where a person has trouble either getting to sleep or staying asleep.19. Define parasomnia- A category of sleep disorders in which abnormal events occur during sleep, such as sleepwalking or talking; due to inappropriately timed activation of physiological sy stems.20. Define hypnosis- An artificially induced trance state resembling sleep, characterized by heightened susceptibility to suggestion.

Book Summary for Siddhartha

Siddhartha is a novel by German author Hermann Hesse. It was first published in 1921. Publication in the United States occurred in 1951 by New Directions Publishing of New York. Setting The novel Siddhartha is set in the Indian Subcontinent (Islands off the southeastern tip of the  Indian  peninsula), is often considered a part of the  subcontinent. during the time of the Buddhas enlightenment and teaching. The period about which Hesse writes is between the fourth and fifth century BCE. Characters Siddhartha - the protagonist of the novel, Siddhartha is the son of a Brahmin (religious leader). During the course of the story, Siddhartha journeys far from home in search of spiritual enlightenment. Govinda - Siddharthas best friend, Govinda is also searching for spiritual enlightenment. Govinda is a foil to Siddhartha as he is, unlike his friend, willing to accept spiritual teachings without question. Kamala - a courtesan, Kamala acts as the ambassador to the material world, introducing Siddhartha to the ways of the flesh. Vasudeva - the ferryman who sets Siddhartha on the true path to enlightenment. Plot for Siddhartha Siddhartha centers on the spiritual quest of its title character. Dissatisfied with the ritualistic religious upbringing of his youth, Siddhartha leaves his home with his companion Govinda to join a group of ascetics who have renounced the pleasures of the world in favor of religious meditation. Siddhartha remains unsatisfied and turns to a life opposite to that of the Samanas. He embraces the pleasures of the material world and abandons himself to these experiences. Eventually, he becomes disillusioned with the decadence of this life and again wanders in search of spiritual wholeness. His quest for enlightenment is finally achieved when he meets a simple ferryman and comes to understand the true nature of the world and himself. Questions Consider the following while reading the novel. 1. Questions about the character: What significant differences are there between Siddhartha and Govinda?Why does Siddhartha continue to question and explore different philosophies and ideas about religion?Why does Siddhartha reject the teachings of the Buddha?In what way is Siddharthas son like his father?Explain the dual role of the ferryman. 2. Questions about the theme: What role does the natural world play in the thematic development of the novel?What is Hesse saying about the quest for enlightenment?How does the internal conflict of Siddhartha add to the archetypal theme of Man vs. Himself?In what way does love confound Siddhartha? Possible First Sentences Like many great novels, Siddhartha is the story of an individual in search of answers about himself and his world.The idea of spiritual enlightenment is very complex.Siddhartha is a revelation of Eastern religion and philosophy.