History and future of money Example

Essays on History and future of money Research Paper Task In the past, people used barter trade as a medium of exchange, whereby goods were exchanged for other goods, and services exchanged for other services. The problem was that the value of a commodity could be of a different value from the commodity exchanged, thus there was introduction of coins to represent money (Basel, 2006). It was easier to find out the worth of coins with the cost of merchandise people wanted. There was introduction of representative money where there was paper currency, and this replaced the commodity money. Fiat money replaced representative money, and this is whereby, the government gave money value through enforceable laws for legal tender (Basel, 2006). Currently, people are using credit cards or electronic banking, and in addition to this, the banking industry has been computerized and people are using the internet for transactions. Currency is important since people can buy what they want so as to make their life more comfortable. With money, good and quality education is acquired and this is important to a country’s economy, since educated people get well paying jobs in the market. In the past, people used currency as a form of exchange for goods or services needed, and this is also done in the contemporary world (Kondabagi, 2007). In businesses, most transactions need transportation of services or goods, and financial compensation is required which involves exchange rates or currency valuation. Today, with improvement of technology, credit cards facilitate transactions, making it possible to buy goods in cases of unavailability of currency or checkable deposits. However, credit cards are a liability because the purchase becomes completed until the credit liability is eventually paid off (Arnold, 2008). Electronic money can be viewed as prepaid mechanism of payment where funds records are stored on electronic devices, which are usually in a consumer’s possession. In most developed countries, people use credit cards to make payments instead of using currency. Carrying a lot of money in bags or putting cash in pockets is not effective since the money can be easily lost. Most people consider using credit cards as an alternative of carrying a lot of money wherever a person goes, since credit cards are portable as compared to carrying cash. Credit cards are used to make payments in places like supermarkets when one does not have cash on them (Randel, 2009). In future, credit cards will replace the use of currency since credit cards are easily portable, and payments can be made in any place a person is, provided there is an electronic device from which the service can be accessed. Electronic banking enables people to make transfers of money easily between countries or within the country. This is of great advantage to the people, since travel cost to the destinations where payment is supposed to be made, is saved. People are able to transfer funds from one country to the other using electronic devices, such as smart cards or credit cards without necessarily having to go there (Kondabagi, 2007). If currency is used, then people would have to travel from one place to the other, carrying money in order to transfer funds. It is expected that in the future, people be using electronic money rather than using currencies, because it is easier to make transfers of funds using electronic devices. References Arnold, C. (2008). How You Can Profit from Credit Cards. California: FT Press Basel, R. (2006). The History of Money. Alabama: Capstone Press. Houghton, G. (2009). The Rosen Publishing Group. New York: The Rosen Publishing Group. Haydon, J. (2006). The History of Money. California: Black Rabbits Books. Kondabagil, J. (2007). Risk Management in Electronic Banking: Concepts and Best Practices. New Jersey John: Wiley and Sons. Randel, J. (2009). The Skinny on Credit Cards: How to Master the Credit Card Game. Chicago: RAND Media Co.

Nick Adams as Code Hero of in Our Time Free Essays

Ernest Hemingway is noted for having made many contributions to the literary world and one of his most notorious contributions is the Code Hero. The birth and growth of the Code Hero can be easily observed simply by watching the growth and development of Nick Adams throughout Hemingway’s writing. In Our Time contains a various assortment of Nick Adam stories at various stages of his life and also shows the Code Hero at various stages of its development. We will write a custom essay sample on Nick Adams as Code Hero of in Our Time or any similar topic only for you Order Now In Our Time was the second book Hemingway had published. His first contained only three short stories and ten poems and had little to do with the Code Hero, making In Our Time the first time Hemingway revealed the Code Hero to the rest of the world. The technique and characterization contained in In Our Time is consistent with most of Hemingway’s later writings, setting up In Our Time as a model of Hemingway’s style and the Code Hero According to Professor Paul Totah of St. Ignatius, Hemingway defined the Code Hero as â€Å"a man who lives correctly, following the ideals of honor, courage and endurance in a world that is sometimes chaotic, often stressful, and always painful. The Code Hero measures himself by how well they handle the difficult situations that life throws at him. In the end the Code Hero will lose because we are all mortal, but the true measure is how a person faces death. The Code Hero is typically an individualist and free-willed. Although he believes in the ideals of courage and honor he has his own set of morals and principles based on his beliefs in honor, courage and endurance. Qualities such as bravery, adventuresome and travel also define the Code Hero. A final trait of the Code Hero is his dislike of the dark. It symbolizes death and is a source of fear for him. The rite of manhood for the Code Hero is facing death. However, once he faces death bravely and becomes a man he must continue the struggle and constantly prove himself to retain his manhood (Totah). The Code Hero is present in the majority of Hemingway’s novels. Even the young man in Hills Like White Elephants contained many of the characteristics of the Code Hero such as free-willed, individualist, and travel. The individualism comes out in his desire to not have a child. It would solidify the group aspect of a family between him and the lady. The travel trait is obvious by the mention of the stickers on the luggage denoting the many places they had been. His free will comes out also in his desire not to be a father. If he were a father he would have to begin making decisions for his child and family, not just for himself. The first Nick Adam story, Indian Camp shows Nick as a young boy and also shows Nick as he experiences the main characteristic of the Code Hero, facing death bravely. Nick’s witnessing of the Indian’s suicide introduces him to death for the first time. Instead of being frightened or sickened by the experience, Nick stays strong and asks his father questions about it instead. The fear of darkness is also touched upon in Indian Camp. When Nick first goes to the camp it is dark and he sits in the boat with his father’s arm around him, providing a sense of security. When Nick leaves the camp it is light outside. Nick runs his hand through the water, which is described as warm and provides the sense of security that his father had to provide during the night. The light shining on the water and warmth that Nick feels is also mentioned along with Nick’s thought that he would never die. Nick draws strength and sanctuary from the morning as opposed to the night before. Nick’s feeling that he would never die shows this as an early stage in his development into a Code Hero. He has not accepted the inevitability of death, yet. The Doctor and the Doctor’s Wife also shows Nick developing into the Code Hero, although in a very subtle way. Nick is only involved in the end of the story but the few sentences that Hemingway writes about him are enough to show development. Nick is described as sitting in the woods reading. This shows him as someone who enjoys the outdoors. From this it can be derived that he enjoys traveling. He doesn’t like being tied down to civilization; he’d rather be out exploring and setting his own path. This shows the free will and individualism of Nick. The description of him reading shows that he’s expanding his knowledge. It’s unimportant what he’s reading; it just shows that he’s expanding his knowledge of the world. From this he will form his opinions and beliefs, helping him create his own value and belief system. His parents’ contradicting religious views reinforce this. Since he does not have one religion exposed to him he has to examine both. From this he will pick and chose the ideals he believes in. The End of Something and The Three-Day Blow show the development of Nick’s individualism. Although his age is not mentioned, it can be assumed he has passed through adolescence and is becoming a young man. He feels that his relationship with Marjorie is becoming too close. He is losing his individuality as they become more of a couple, although he doesn’t realize it. All he knows it that the relationship wasn’t fun any longer and it was over for some reason he didn’t know. Bill articulates the reason when he describes what married life would have been like for Nick. Nick would have had to settle down and get a job and raise a family. Bill also points out that Nick would have been marrying her whole family, not just her. Nick would have no longer been an individual; he would have been part of a group. He also would have lost his free will. He would not have been able to do whatever he wanted whenever he wanted. He would have had to factor in the family into his decisions. Bill further points out that Marjorie’s mother would have been around all the time telling them how to do things and act. Nick’s desire to travel is illustrated when he thinks about how he and Marjorie had talked of going to Italy and all the places they would go and see. Another characteristic revealed is honor. Bill states that Nick did the right thing by breaking up with Marjorie now while she still has a chance to meet someone else and settle down with him. It is implied that by Nick stopping things he actually helped both of them avoid a life that would have made them miserable. In The Battler Hemingway has Nick face death for the first time since that day at the Indian camp as a young boy. Nick is older now and is becoming a young man. Although death is not openly visible in the story, Nick does face it in two ways. The first is symbolic in the fact that although it is dark outside, Nick walks up to the fire and the stranger and begins a conversation. Nick bravely faced death in this instance. He didn’t let the fact that it was dark, he was not near anyone that could help him, or that he didn’t know the man stop him. The other way Nick faced death was his encounter with Ad. Ad said he was going o give Nick a beating but a man that could snap in and out of reality the way Ad did could easily beat Nick to eath. Nick is aware that he is in a dangerous situation, but he remains calm and doesn’t show cowardice. He slowly backs away from Ad while trying to talk him out of the fight. Although he backed away, he didn’t turn and run or begin crying and begging for mercy. He recognized the fact that he couldn’t win a fight against Ad and used h is intelligence to try and find another solution. The Battler also shows Nick as a traveler. He is train hoping his way from town to town. Cross-Country Snow again shows the travel aspect of the Code Hero. Nick talks of wanting t travel all over Switzerland and Europe to ski and mentions having traveled a lot in the United States. The story also shows Nick being unhappy about giving up his free will and individualism. He has a baby on the way and it will change everything. He knows he will have to return to the U. S. He says he is happy now that he will be a father but he still emits regret at not being able to ski anymore. This is symbolic of more than skiing, though. It symbolizes his regret at not being able to just bum around Europe or travel around the States. It symbolizes a loss of his free will. His decisions will no longer affect just him. This ties in with his loss of individualism. He now has a family to think about and provide for. He is part of a small group and not just an individual. Despite all this, he faces it bravely. He says he is happy to become a father. In this way he faces the death of his free will and individualism bravely. Big Two-Hearted River shows Nick as a man and also reveals that he has acquired many of the qualities of the Code Hero. He is out in the woods and camping along the river alone, depicting his individualism. His camping and fishing show his adventuresome personality. His reminiscing of other fishing trips at various places reveals his love of traveling. Nick is always respectful of nature and the river. There is an aspect of Nick’s fear of the dark as well. When he speaks his voice sounds strange in the darkness and he doesn’t speak again. Despite this fear he is brave and camps out alone near the river. By this point Nick has nearly matured into the full Code Hero and fully into a man. Chapter IV is the conclusion of the growth of the Code Hero and Nick Adams. Nick is in a war, most likely WWI. He has been shot and he is staring into the face of death. He is also smiling. In this short one paragraph sketch, Nick shows his bravery, courage and endurance to face an extremely difficult situation and face death. At this point Nick proves his manhood and shows the final evolution of the Code Hero. The fact that Nick is a soldier fighting in a war reinforces his bravery and courage. His survival during the war displays his ability to endure and persevere through tough situations. Although it is a collection of short stories, Hemingway’s In Our Time presents his famous Code Hero in various stages of its development through the development of one of his most famous characters, Nick Adams. Characteristics such as bravery, courage, endurance, free will, individualism, a desire to travel, a fear of the darkness and the ability to face death and the difficulty of life are prevalent in Nick as he grows from a young boy in Indian Camp into a man in Chapter VI. The Nick Adams stories contained in In Our Time do a great job of showing Nick at various stages of his life and in various stages of his development into the Code Hero, making the book a model of the Code Hero. How to cite Nick Adams as Code Hero of in Our Time, Papers

Financial Accounting and Organizational Change

Question: Discuss about the Financial Accounting and Organizational Change. Answer: Introduction: The revelation of an asset is very necessary for accounting and is one of the necessary components to be maintained while doing the bookkeeping for some company. According to International Accounting Standards, a disclosure of Intangible Assets is coming under IAS 38 Intangible asset. Intangible Assets will be outlining the necessity of accounting regarding intangible assets (Khokan et al., 2014). Intangible Asset is identified as the non monetary assets that are recognized as without physical existence. Intangible assets will be meeting the criteria of specifically identified area where the cost will be measured primarily and then with the help of revaluation model as well as amortization will be done by useful live of the asset. IAS 38 was revised on March 2004 and will be applicable only in the combination of the business, which has occurred on and after 31 March 2004. The main objective of IAS 38 is only for the incorporation of an intangible asset in the treatment of account, which is not dealing only with IFRS. The accounting standard needs an entity for identifying an intangible asset only if a particular criterion is met. The accounting standards will also mention the amount for measuring the amount of intangible asset as well as disclosing the amount related to intangible assets (Aasb.gov.au.2016). Australia and New Zealand Bank From the annual report of the Australia and New Zealand (ANZ) Bank, it has been analyzed that there is an increase of intangible ass0et, as compared to previous year. ANZ bank is using IAS 38 rules for the incorporation of int.0angible assets in its financial statement. The goodwill of ANZ bank mainly comprises because of the goodwill purchased in the acquisition of NBNZ Holdings Limited in the year 2003 and ANZ Wealth Australia Limited. The recovery of CGU is done in every element of goodwill component is to be allocated for estimation, through the approach of market multiple representing the fair value of deduction in the Disposal of CGU. The multiples of price earnings are based on observed multiples for the reflection in the market and business for which CGU is operating. The earnings will be because of present forecasting division in the earnings. The fair value aggregate is computed, as disposal of the cost of the group will be compared to the market capitalization of the group for the validation in the conclusion for the goodwill, which will not be impaired. One of the main assumption that management is based on the determination of fair value minus disposal cost, which is included in the assumptions, it is because the market multiple will be reflected in the business segment for achieving forecasting in the earning. In the recent year accumulated depreciation and cost were decreased for eliminating assets in the net book value which is no longer in use, for doing the comparison for the information adjusted (Anz.com.2016). Amortization and depreciation are including freehold and leasehold land and buildings, improvement of the leasehold, furniture and equipment and technology equipment. Intangible assets are also coming under the list of some ordinary shares. The intangible net asset is equal to share capital and reserves will be attributable to the shareholders in the group after deducting preference share capital and intangible assets, which are unamor tized. From the accounting, the perspective, fair value of the intangible asset is not disclosed for covering the instruments. In tier 1, of IAS 38, the explanations are done related to profit entities of the intangible assets. It widely depends on the application of the non profit component given in the additional guidance of included in IAS 38. ANZ banking is bringing new approach for facing the challenges in the banking sector. Similarly finding a new process to attract customers in an effective way, the banking company is putting its best effort delivering its services in the coming year. It will also help in enabling the approach of a shareholder for long and high return in the future year (Guthrie and Pang 2013). BHP Billiton In the annual report of BHP Billiton, it is focusing on the accounting standards of IAS 38 Intangible asset. BHP Billiton is a huge mining company. Some key assumptions are for oil and gas are the forward price curves and long term view of the potential external sources. Prices are adjusting the arrival of consistent pricing in the market. Goodwill of the BHP Billiton has decreased as compared to the prior year. Goodwill is allocated to different reporting segments. In BHP Billiton IAS 38, is also recognizing the aggregate amount of needed for research and development as well as in the information of intangible asset. The description is said to be the amount left in the process of amortization time (Zhuang 2016). Details related to any prohibition will be depending on the heading of intangible assets and security pledge in the company. This is the amount of the commitments of contractual related to the acquisition of the intangible assets of BHP Billiton. Even AASB 136 is giving th e intangible assets for specific useful lives for the amortizing purpose and impairment test of the assets of BHP Billiton. It is also being reveled that useful live of asset and auditing of every period. Intangible assets of BHP Billiton will have Physical substance according to the Accounting Standard. The assets that are underlying can be both intangible and tangible for the obligation of the lease in the finance. Acquisition of the goodwill is coming under the head of AASB 3 Business combination. The goodwill that is under intangible asset of the BHP Billiton will be attributable with the differentiation of goodwill. BHP Billiton does not show a good position in respect of intangible asset but under the head of goodwill. Goodwill of BHP Billiton has truly fulfilled the accounting standards as per the AASB. Identified intangible asset is recognized in the attributable part of goodwill. Identified goodwill of the company is coming as income of the business with the representation of economic benefits. Disclosure of intangible asset in the financial statement of BHP Billiton plays a vital role (Bhpbilliton.com.2016). Reference list Aasb.gov.au. (2016).Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au/ [Accessed 21 Sep. 2016]. Anz.com. (2016).Personal - Online Banking | ANZ. [online] Available at: https://www.anz.com [Accessed 21 Sep. 2016]. Bhpbilliton.com. (2016).BHP Billiton | A leading global resources company. [online] Available at: https://www.bhpbilliton.com/ [Accessed 21 Sep. 2016]. Guthrie, J. and Pang, T.T., 2013. Disclosure of Goodwill Impairment under AASB 136 from 20052010.Australian Accounting Review,23(3), pp.216-231. Khokan Bepari, M., F. Rahman, S. and Taher Mollik, A., 2014. Firms' compliance with the disclosure requirements of IFRS for goodwill impairment testing: Effect of the global financial crisis and other firm characteristics.Journal of Accounting Organizational Change,10(1), pp.116-149. Zhuang, Z., 2016. Discussion of An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.