The Point Of The Education Systems Way Of Teaching Kids

Creativity is all in us but we either grow out of it or we are educated out of it. The theme of this essay is covering the point of the education systems way of teaching kids to fit in with the normal standard of today’s working adult. As we grow up wanting to be something that we love we are later on taught that it’s not acceptable to do something we love because there are no jobs out there for it, thus teaching kids to abandon their dreams and do something they don’t want to do for the rest of their lives. Schools base education and learning off of the future but how can we base it off the future when nobody can really predict what the future holds in 5 years’ time. In my honest opinion education needs to be reevaluated and teach kids to follow their dreams and do what they love because life is too short to sit at a dead end job for the rest of your life. Ken Robinson was an effective speaker and made some really good points on how kids lose their creativity over time as their education continues. He talks about how to be original you have to be human and make mistakes, but schools are now engraving into the children’s head that mistakes are the worst things you could do. As stated in 5:45 of the video by ken, â€Å"If you don’t prepare to be wrong, you will never come up with anything original†. Being original is the key to creative but not a single person can make their dreams come true without making mistakes and education prevents kids from even trying to make mistakes.Show MoreRelatedImproving Education During The 21st Century959 Words   |  4 PagesImproving Education in America One of the first issues is that the U.S is 26th in math, 21st in science, and 17th in reading. America leads in many things except the most important education. China, Finland and Korea are way ahead of us when it comes to education. 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The Sistine Madonna in the Royal Gallery at Dresden,...

The Sistine Madonna in the Royal Gallery at Dresden, Saxony The most beautiful picture in the world is the Sistine Madonna in the Royal Gallery at Dresden, Saxony. It was painted by Raphael as an altar-piece for a church in Piacenza, Italy. In a far corner of the great Palace of Art it is now placed, probably to remain until the colors shall fade. It is the only picture in the room. The figures are of life size. When that room is entered all voices are hushed, and all merriment silenced. The place is as holy as a church. In the centre of the canvas is the Virgin Mother with a young, almost girlish face or surpassing loveliness. In her eyes affection and wonder are blended, and the features and the figure are the most†¦show more content†¦At the bottom of the canvas are the two cherub faces which for centuries have been ideals of innocence and loveliness. The background is of fleecy clouds, and peering out of the clouds are angel faces. It has been said that Raphael never painted anything exactly as it was, but always idealized whatever he touched. If he found those faces anywhere among the throngs in Italian streets, he lifted them out of their surroundings and glorified them, so that all nations recognize in that matchless Madonna their ideal of the Mother of our Lord, and in that child their ideal of the Divine Child. The vision of angels breaking the barriers of physical limitations, and entering human spheres, is a suggestion that the spiritual and physical are never far apart, and that perhaps if we had clearer vision, angel faces might be often seen, and if we had more acute hearing, angel songs might be often heard. This greatest of all paintings conveys immortal lessons in a pictorial and impressive form. The central figure at the Advent and in the childhood of Christ was His mother. In the painting, too, the mother is not less prominent than her Child. The Roman Church has carried its adoration of the Virgin too far, but Protestants have treated her with positive neglect. Raphael has made her the most beautiful woman ever dreamed of by art. Perhaps he was right. Who knows ? The Sistine Madonna, which hung for centuries on the wall behind the high altar of San Sisto

Value of the Annual Lease Payments

Question: Lessor Ltd has entered into an agreement to lease a machine to ChiHerbal Ltd. The lease agreement details are as follows: Lease term 5 years Commencement date 1 July 2015 Annual lease payment, payable 30 June each year commencing 30 June 2016 $8 400 Fair value of the machine at 1 July 2015 $35 197 Estimated economic life of the machine 8 years Estimated residual value of the machine at the end of its economic life $2 000 Residual value at the end of the lease term, of which 50% is guaranteed by ChiHerbal Ltd $7 600 Interest rate implicit in the lease 9% The lease is cancellable, but a penalty equal to 50% of the total lease payments is payable on cancellation. ChiHerbal Ltd does not intend to buy the machine at the end of the lease term. Lessor Ltd incurred $1 000 to negotiate and execute the lease agreement. Lessor Ltd purchased the machine for $35 197 just before the inception of the lease. Required: a) Explain why the lease should be classified as a finance lease by both Lessor Ltd and ChiHerbal Ltd. b) Prepare a schedule of lease payments and the journal entries for ChiHerbal Ltd regarding the lease over the lease term. c) Prepare a schedule of lease receipts and the journal entries for Lessor Ltd regarding the lease over the lease term. d) Prepare an appropriate note to the financial statements for both Lessor Ltd and ChiHerbal Ltd as at 30 June 2016. Answer: The given lease would be treated as a finance lease as the present value of the annual lease payments as per the lease exceeds 90% of the assets fair market value at the time of lease agreement (AASB, 2010). This is demonstrated below. Year Lease Payment ($) PV factor (9%) PV of lease payment ($) 1 8400 0.9174 7706.42 2 8400 0.8417 7070.11 3 8400 0.7722 6486.34 4 8400 0.7084 5950.77 5 8400 0.6499 5459.42 5 3800 0.6499 2469.62 Total 35142.68 The fair value of the asset is given as $35,197. 90% of the fair value of the machine = 0.9* 35,197 = $31,677.3 Since the present value of the lease payments (including guaranteed residual value) over the lease term of five years is greater than 90% of the assets fair value, hence the requisite condition for classification of lease as financial lease has been fulfilled both on the part of the lessor as well as lessee. Additionally, the in case of cancellation of lease, 50% of the total lease payments is payable by the lessee which also implies that the given lease is finance lease (Damodaran, 2008). The schedule of lease payment for the lessee is given below (Brealey, Myers Allen, 2008). Period Date of Payment Amount of lease payment ($) Principal ($) Interest ($) Closing Balance ($) 0 35142.68 1 30th June 2016 8400 5237.16 3162.84 29905.52 2 30th June 2017 8400 5708.50 2691.50 24197.02 3 30th June 2018 8400 6222.27 2177.73 17974.75 4 30th June 2019 8400 6782.27 1617.73 11192.48 5 30th June 2020 8400 7392.68 1007.32 3799.80 5 30th June 2020 3800 3800.00 -0.20 The relevant journal entries for the lessee (i.e. ChiHerbal Ltd) during the lease term are given below (Deegan, 2014). Date Account Debit Credit 1st July 2015 Equipment Account 35142.68 Capital lease liability account 35142.68 30th June 2016 Capital lease liability account 5237.16 Interest expense account 3162.84 Accounts payable account 8400 30th June 2016 Depreciation Expense (leased) 6268.54 Accumulated Depreciation (leased) 6268.54 30th June 2017 Capital lease liability account 5708.50 Interest expense account 2691.50 Accounts payable account 8400 30th June 2017 Depreciation Expense (leased) 6268.54 Accumulated Depreciation (leased) 6268.54 30th June 2018 Capital lease liability account 6222.27 Interest expense account 2177.73 Accounts payable account 8400 30th June 2018 Depreciation Expense (leased) 6268.54 Accumulated Depreciation (leased) 6268.54 30th June 2019 Capital lease liability account 6782.27 Interest expense account 1617.73 Accounts payable account 8400 30th June 2019 Depreciation Expense (leased) 6268.54 Accumulated Depreciation (leased) 6268.54 30th June 2020 Capital lease liability account 7392.68 Interest expense account 1007.32 Accounts payable account 8400 30th June 2020 Depreciation Expense (leased) 6268.54 Accumulated Depreciation (leased) 6268.54 30th June 2020 Capital lease liability account 3800 Cash account 3800 The Lessor in this case has incurred direct cost of $ 1,000 with regards to negotiating and executing the lease agreement. Assuming that Lessor Ltd. is not a manufacturer or dealer of the machine, hence in accordance with AASB 117 (Para. 18), it can be assumed that this cost is already included in the financial lease receivable as calculated through the implicit rate (AASB, 2010). The financial lease receivable by Lessor Ltd. is shown below. PV of all the lease payments over the five years = $ 32,673.06 PV of the guaranteed residual value = $ 2,469.62 Hence, total leave receivable by Lessor = 32,673.06 + 2,469.62 = $ 35,142.68 The schedule for receipt of lease payment by Lessor Ltd. is shown below (Damodaran, 2008). Date of Receipt Lease Payment Received ($) Interest income ($) Reduction in balance ($) Lease Receivable balance 1st July 2015 35142.68 30th June 2016 8400 3162.84 5237.16 29905.52 30th June 2017 8400 2691.50 5708.50 24197.02 30th June 2018 8400 2177.73 6222.27 17974.75 30th June 2019 8400 1617.73 6782.27 11192.48 30th June 2020 8400 1007.32 7392.68 3799.80 30th June 2020 3800 0.00 3800.00 -0.20 The relevant journal entries for the lessor (i.e. Lessor Ltd) during the lease term are given below (Deegan, 2014). Date Account Debit Credit 1st July 2015 Lease Receivable 35142.68 Machine 35142.68 30th June 2016 Cash 8400.00 Lease Receivable 5237.16 Interest Receivable 3162.84 30th June 2016 Interest Receivable 3162.84 Interest Revenue 3162.84 30th June 2017 Cash 8400.00 Lease Receivable 5708.50 Interest Receivable 2691.50 30th June 2017 Interest Receivable 2691.50 Interest Revenue 2691.50 30th June 2018 Cash 8400.00 Lease Receivable 6222.27 Interest Receivable 2177.73 30th June 2018 Interest Receivable 2177.73 Interest Revenue 2177.73 30th June 2019 Cash 8400.00 Lease Receivable 6782.27 Interest Receivable 1617.73 30th June 2019 Interest Receivable 1617.73 Interest Revenue 1617.73 30th June 2020 Cash 8400.00 Lease Receivable 7392.68 Interest Receivable 1007.32 30th June 2020 Interest Receivable 1007.32 Interest Revenue 1007.32 30th June, 2020 Cash 3800.00 Lease Receivable 3800.00 Note for Lessor Ltd. Note: Trade and other Receivables Finance Lease Commitments The financial lease receivables are summarised below. June 30, 2016 Particular Gross Investment Unearned Income Payments Receivable Less than one year 8400.00 3162.84 5237.16 Between one year and fie years 37400.00 7494.28 29905.72 Total 45800.00 10657.12 35142.88 Note for ChiHerbal Ltd Note: Leases The future lease payments that the company needs to make for the existing lease agreements is mentioned below. Finance Lease FY2017 FY2018-FY2021 Total Expected lease payments in future 8400 37400 45800 Less: Interest Amount 3162.84 7494.28 10657.12 Present Value of lease payments($) 5,237.16 29,905.72 35,142.88 References AASB (2010), AASB 117-Leases, Retrieved on August 5, 2016 from: https://www.aasb.gov.au/admin/file/content102/c3/AASB117_07-04_ERDRjun10_07-09.pdf Brealey, R., Myers, S. and Allen, F. (2008), Principles of Corporate Finance (9th edition), New York: McGraw Hill PublicationsDamodaran, A. (2008), Corporate Finance (3rd edition), London: Wiley PublicationsDeegan, C.M. (2014), Financial Accounting Theory (4th edition), Sydney: McGraw-Hill Education Australia

Microsoft Versus The Department Of Justice Essays - Microsoft

Microsoft Versus The Department Of Justice Microsoft Versus the Department of Justice In todays high-tech ultra-fast paced world, there can be no debate as to the importance of personal computers. Personal Computers control virtually every aspect of our daily lives. Businesses, regardless of their size, have local area networks, company Intranets and high-speed wide area networks. Billing, inventory and invoicing would be impossible without help from our Personal Computers. Stocks, bonds and commodities are traded in the markets around the world entirely by computer. The Banking industry relies enormously on Personal Computers for every transaction. Communicating without email, fax transmissions and other forms of computer aided information transfers would be unimaginable. The media would be unable to produce news and information for the masses in the timely manner we know today. Law enforcement agencies, from local police, to field agents of the F.B.I. depend on computer databases for crucial information. Air traffic controllers rely on their computers to safely land and route thousands of planes into airports around the world everyday. Even the military depends on computers to defend our very own borders and interests. With the important role that Personal Computers serve in society today, is it really a good idea to have one company exclusively control the technology running virtually every aspect of our lives? (Kaphing 7) Ninety percent of all computers sold worldwide are IBM or IBM compatible clones. Microsoft's infamous operating system licensing agreements required all personal computer makers to pay Microsoft a royalty on every computer they manufactured, even when no Microsoft product was loaded on the machine.(Kaphing 1) This forced the Personal Computer makers into only using the Microsoft operating system. They could not choose a different Operating System even if they so desired, because at that time all of the Personal Computer clone manufacturers were small start up companies, having very limited capital. They couldn't afford to pay both Microsoft and another company for a different operating system. In 1994 The United States Justice Department barred Microsoft from engaging in this sort of extortion, but it was already too late, the Operating System monopoly had been realized.(PC Week) After the 1994 decision, Microsoft resorted to a new anti-competitive tactic. Yet another clause in the operating system licensing agreement between Microsoft and the computer manufacturers requires the first computer screen any user sees on startup to contain whatever message Microsoft pleases, and to also feature the software content of Microsoft's choosing. This crafty marketing spites the entire concept of competition. It handcuffs the PC hardware manufacturers, who are compelled to submissively promote the Microsoft product line on each and every computer they sell. This is clearly a handicap to third party software vendors like Corel and Adobe. This practice also hurts the consumer by limiting personal choices. Even though there may be far superior products on the market, the PC manufacturing companies are legally obligated to only include Microsoft products. In 1985 Apple Computer was forced into licensing some of their user interface elements to Microsoft, for incorporation into Windows version 1.0. This license was granted only after Microsoft threatened to discontinue development of Macintosh applications. Microsoft was the leading developer of Mac programs, and without their software, Apple would have been doomed to bankruptcy. Apple had no choice but to give in to Microsoft's demands.(Los Angeles Times 2) Microsoft also threatened three computer companies over Internet browser contracts. Compaq, Gateway and Micron computers wanted to replace Microsoft's Internet Explorer with another World Wide Web browser. Not only did Microsoft say no, but court records filed in Washington D.C. stated that Microsoft threatened manufacturers seeking to remove its Explorer browser with a potentially lethal blow - termination of the license for Windows, the operating system that runs almost all personal computers in the world today. In fact Microsoft began proceedings for just such a penalty against Compaq, the world's leading computer maker. Compaq eventually canceled plans to remove Internet Explorer from its Presario computers, but only after intense pressure from Microsoft.(Los Angeles Times 1) In 1995 U.S. Attorney General Janet Reno asked a U.S. District Court in Washington, DC, to place a $1,000,000 dollar a day toll until Microsoft agrees to stop demanding that PC makers license Internet Explorer when they