Auditing Reacquired Franchise Rights

Auditing Reacquired Franchise RightsWorksheet 1 Summary of Reacquired Franchise RightsVerifying mathematical Accuracy of Reacquired Franchise Rights BalanceIt has been assumed that the beginning balance of reacquired franchise rights was audited last year. Therefore, changes (if any) to this account are audited in the circulating(prenominal) year so that an attendee discharge give an opinion on the balance of this summation. Reductions to this asset are likely to be due to a sale, other disposal, or impairment. However, based on the causa facts, there is no indication of changes in the current year. The following were the procedures performedChecking to see if the client reported any impairment Based on the case facts, Roman Holiday did not identify or report any impairment in the reacquired franchise rights in the current year.Ensuring that each Franchisee market preserve the correct number for the BV of Reacquired Franchise Rights Roman Holiday did not sell or dispose any of its reacquired franchise rights (reductions)n each did they reacquire any new franchise rights (additions) during the current year. This is the reason that there was no change in the recorded amount for these assets.Verifying that the company correctly added the book values of the reacquired franchise rights to include totally of the senior franchise markets (please refer to Appendix A) Upon reviewing the client-prepared schedule of reacquired franchise rights, the sum of the book values of these intangible assets, for each franchise market, totaled $127, 414, 000. However, there is a $2,000 ($127,414 127, 412)deviation between the actual total and the amount that the client reported on its balance sheet ($127, 412, 000). Since, a planned materiality of $5 million is beingness used this deviation is immaterial and islikely due to rounding errors.Based on the above procedures performed and the immaterial deviation between the actual total and the clients reported amount for t he book value of the reacquired franchise rights, we feel that the proper amount has been recorded and as such no further procedures are necessary.Is the Indefinite life story compartmentalisation for the reacquired franchise rights correct?According to SFAS 142, it identifies how goodwill and other intangibles are accounted for after their acquisition or in this case their reacquisition. Essentially, it requires the classification of intangible assets as having either a definite or indefinite life. The main difference is that definite-life intangible assets are amortized in a pattern depending on how and when the stinting benefits are anticipate to be received (e.g. if expected evenly over each year then the straight line method of amortization should be used). In ascertain whether or not the indefinite-life classification for the reacquired franchise rights is correct we must review through the criteria in SFAS 142 and see how it relates to our client, Roman Holiday. According to SFAS 142, the estimate of the useful life of an intangible asset to an entity is based on an analysis of all pertinent factors, in particular the followingiThe expected use of the asset by the reporting entity eggshell facts Essentially, the purpose of reacquired franchise rights is to allow the franchisor (Roman Holiday) to utilize their own brand name in the specific senior franchisee market(s) that they reacquired the rights from.The expected useful life of another asset or a group of assets to which the useful life of the intangible asset whitethorn relate (such as mineral rights to depleting assets) causal agency facts The group of assets that the reacquired franchise rights may relate to is the reacquisition of rights from existing and/or underdeveloped markets or restaurants. Under the contractual repurchase agreement, which has a useful life of 14 years, Roman Holiday is entitle to the use and benefit of these assets (e.g. the right to continue operating existing restaur ants and the right to collect royalties from sub-franchises developed by the Senior harmonise)Any judicial, regulatory, or contractual sustenance that may limit the useful lifeCase Facts same as part ii. (i.e. The contractual agreement has a useful life of approximately 14 years which is the same length of the underlying Senior Associate agreement)Any legal, regulatory, or contractual provisions that enable renewal or extension of the assets legal or contractual life without substantial cost (provided there is evidence to support renewal or extension and renewal or extension can be accomplished without material modifications of the existing terms and conditions)Case facts The Senior Associate Agreement has a useful life between 10-20 years (approximately 14 years). These agreements are renewable if mutually agreeable to both parties with no substantial costs or material modifications of the existing terms and conditions.The effects of obsolescence, demand, competition, and other economic factors (such as the stability of the industry, known technological advances, legislative action that results in an uncertain or changing regulatory environment, and expected changes in distribution channels)Case facts According to analysts, the companys return will slow (indicating that the pizza pie industry is in its maturity stage) in the next few years but will hush up exceed industry averages. However, most of Roman Holidays revenue growth, in recent years, is largely due to the reacquisition of franchise rights and existing restaurants as opposed to real growth in the franchise itself. Therefore, Roman Holiday faces stiff competition in this highly competitive industry. In addition, the company markets itself as a gourmet pizza restaurant and only targets consumers willing to pay for a premium product. There are may substitute pizza places that consumers can go to such as Pizza Hut and Dominos Pizza unless Roman Holiday can continue to distinguish itself from thes e other restaurants (e.g. incentives and price discounts).The level of maintenance expenditures required to grasp the expected future cash flows from the asset (for example, a material level of required maintenance in relation to the carrying amount of the asset may refer a very limited useful life)Case facts There is no maintenance expenditures related to reacquired franchise rights except annual impairment losses, if any.Based on the above pertinent criteria related case facts, we feel that the indefinite-life classification is wrong. Instead, it should have a definite life of 14 years, which is consistent with the underlying Senior Associate agreement. Beyond 14 years the intangible asset and its related benefits will expire.Worksheet 2 Auditee client impairment analysisSFAS 142 vs. SFAS 144Types of Auditing Procedures to Evaluate Managements AssertionsClients Methodology in Estimating the FV of Reacquired Franchise RightsVerifying the mathematical accuracy of the clients esti mation the FMV of Reacquired Franchise RightsWorksheet 3 Analysis of key out assumptionsKey assumptions made by client in arriving at the FMV EstimateComparison to external internal informationWhich provides the greatest level of assurance?Information sourcesPreparation of a document request to the clientEvaluating of key assumptionsEvaluation of appropriateness of key assumptionsWorksheet 4 Auditor impairment analysis on book value of reacquired franchise rights for Arizona acquisitionsIs Clients Impairment Assessment charm?The role of specialistsWhat would be included in a set of working papers?

Shakespeares Othello - The Motivations of Iago in Othello :: GCSE English Literature Coursework

The Motivations of Iago in Othello Have you ever met a devil who does evil for his own sake? Iago in William Shakespeares Othello could seem like he has good motives, but I feel that he uses them as his excuses. The first thing that I did was uncovered Iagos motives. Iago is the most controversial character in Othello. He is able to keep his true thoughts and motives from everyone. Are his motives only excuses for his actions? Iago pretends to have so many motives that they seem more like excuses. Iago then uses these excuses to justify his actions, which are sensitive evil. I also feel that Iago has motives and actions that cause his actions. Does Iago have many different excuses, or does he only have one? This paper will produce that Iago has one clear motive and reason for his madness. Iago is not looking for justification that causes him to act the way he does. There is much more though to Iago. He is not a man of only excuses, he has goals with his motives, which causes him t o act the way he does. As early as the first scene of the play Iago shows us strong motives for his actions. In this first scene we see Othello, a general of Venice, has made Cassio his new lieutant. Iago feels he truly deserves his promotion as he says I know my price, I am worth more no worse a place.(l.i.12) Iago over here is confused why Othello has made such a stupid decision. Iago is a man with a tremendous ego who knows, sometimes overestimates, his worth. Roderigo, a Venetian gentleman, understands Iago when Iago said that he is affined to love the Moor.(l.i.41-42) What Iago really bureau is I follow him to serve my term upon him.(l.i.45) Iago wants to use Othello for his personal goals. We also must put ourselves into Iagos shoes. He is a man whose self-esteem and professional common carrier have just been torn apart. Iago makes his actions of revenge toward Othello almost immediately by informing Brabantio, a Venetian senator and father of Desdemona, that an old black r am (Othello) is tupping (his) colour ewe (Desdemona).(l.i.97) Iagos next motive becomes clear when he convinces Othello that he (Cassio) is too familiar with his (Othellos) wife. (1,iii.4399) Iagos motive here is to break the bond between Othello and Desdemona.

Essay --

Drew RiveraEnglish 4Ms. R. CrowDecember 11th, 2013NSA spying, what is it and how can we stop it?The National Security spot was created in 1952 through a top secret memorandum signed by President Truman. At the time of its creation, the NSA was secretive, with only a few members of intercourse knowing about it. Existence of the agency had been a deep secret until it was unveiled in a Senate investigation called the Church Committee in 1975 (2nd citation Title Timeline of NSA Domestic Spying). The Committee uncovered illegal domestic spying by the NSA, and recommended it make reforms, this was one of the earliest incidents / scandals for the NSA. Prior to that, in 1973 the Supreme motor inn ruled that warrants are required and that the NSA are to provide the names of all US citizens and residents it wished to monitor. After 9/11, President Bush ordered the NSA to eavesdrop without speak to approved warrants technically breaking breaking previously set rules on domestic spying. Le aked reports from whistleblower and former NSA contractor Edward Snowden, claims the NSA reviews millions of phone records collected by Verizon (source ennoble NSA said to be spying on millions of Verizon users.), does this sound legal to you?The NSA collects and keeps record of calls made in the U.S., this includes the phone number of the telephone that is receiving and making the call, and the duration of the call. This is know as metadata it doesnt include a recording of the call. This selective information was discovered through a leaked secret court order, that states Verizon is to turn over all information meeting this criteria every day. Phone Companies including AT&T and Sprint, are also said to be giving up records to the NSA on a daily basis. totally of... ...vering information about the programs. In that sense, the supposed Congressional oversight seems more like an illusion of accountability. The NSA claims its mission for domestic spying is simple that they are h ere(predicate) to collect, process, and store U.S. citizen data for the skillful of our nation. They NSA further elaborates that they cope with the overload of information we have in our country and use it to their strategic advantage. This in turn, helps them find in the buff ways to detect, report, and respond to all domestic threats. We work through you. For you. For our Nation.(Sourcehttp//nsa.gov1.info), this means they are trying to justify that spying on civilians is being done for the good of our nation. Though they claim this is for the sake of our nation, does this violate any previously set laws that are in the constitution or amendments in the Bill Of Rights?

Film Review :: essays research papers

WRITING A FILM REVIEWBe sure to check out ingest spoken languageIn writing your film review, remember that your writing is intended to be persuasive. Additionally, your writing should demonstrate clearly that you not only viewed the film, but also remove the wise or play which formed the basis of the film.Paragraph 1 Offer your overall impression of the film while mentioning the movies title, director, and key actors.Paragraph 2 Summarize the plot of the film, noting differences from the original novel or play.Paragraph 3 How did the actors portray key character roles? Did they fulfill your expectations given your knowledge of the original novel or play?Paragraph 4 Were any particular film techniques used in key scenes? How did the film techniques and music enhance the setting and themes of the film? Paragraph 5 Address how well the film represents the themes of the novel or play. Offer evidence for your opinion. Remember to mention use of symbols and literary devices. Do they & quot move" from the novel/play into the movie well?Paragraph 6 Ending paragraph--your last opportunity to convince the reader. Offer a clincher that tells the reader to get wind the film or not.Film TerminologyGeneral Terms Shot continuous, unedited piece of film of any length Scene a serial publication of nips that together form a complete episode or unit of the narrative Storyboard Drawn up when designing a production. Plans AV text and shows how individually shot relates to sound track. (Think comic strip with directions - like a rough draft or outline for a film.) Montage The editing together of a large number of shots with no intention of creating a continuous reality. A montage is practically used to compress time, and montage shots are linked through with(predicate) a unified sound - either a voiceover or a piece of music. Parallel action narrative strategy that crosscuts between two or more separate actions to create the illusion that they are occurring simultaneous lyShotsLong Shot Overall view from a distance of whole scene often used as an establishing shot - to set scene. Person - will show whole body. Medium or Mid Shot Middle distance shot - can give background information while still focusing on subject. Person - usually shows waist to head. Close Up Focuses on event / expression / reaction. Person - shows either head or head and shoulders. Tracking shot single continuous shot made with a camera woful along the ground

Surfing Is Supposed To Be Para :: essays research papers

Surfing is Supposed to be Paradise Every time a new untouched nirvana is discovered, the first thing everyone wants to do is visit it. By their unite enthusiasm to find these sanctuaries people bring the cage of society with them. Very quickly it becomes necessary to erect bars to keep people out.William Tucker Is constitution Too Good For Us?William Tuckers essay Is Nature Too Good For Us discusses the complications with the environmental movement to set aside pieces of land as wilderness. One of the of import points of Tuckers argument brings up the problem with preserving natural land as wilderness is that these wild paradises often conflict with peoples desire to visit these paradises and experience them. Tucker uses the pattern of Kauai as a paradise that has been ruined by the overuse and overpopulation. Tucker describes how in 1964 the Sierra Club put out an article on the relatively unknown island and by 1979 Time magazine ran an article in which some of the local peop le expressed their desire to keep outsiders out. The issue of protecting paradise is a hotly debated topic that is currently being fought over by surfers. To a surfer nothing is more rewarding than the search and discovery of holy uncrowded quavers. This notion of the search for uncrowded surf was brought to the attention of the general public with the 1963 release of Bruce Browns The Endless Summer. The film documented two surfers traveling rough the world to exotic locales previously left unexplored by the surfers of Western civilization. The images that Brown brought back to mainstream movie screens forever changed the lives of surfers. This film changed how surfers viewed the world. No longer were surfers control to their local coastlines, they were inoculated with desire to seek out their own paradise. Over the years many surfers have found their little piece of paradise and never left. sooner these surfers have opted to spend the rest of their lives surfing the waves they initially had intended to just visit and experience. They never left these beaches because the waves were uncrowded and the beaches were breathtakingly beautiful. Compare this to the modern industrial places in the U.S such as Los Angeles or San Francisco and you can see why surfers are constantly searching for paradise. Surfers get tired of surfing in crowded, polluted, and poor wave producing areas, so they travel.

Les Miserables, Theme (forgiveness, Self Sacrifice, And Courage) :: essays research papers

It is precisely of him that I wished to speak. Dispose of me as you please but help me first to carry him home. I unaccompanied ask that of you. Upon examination of Les Miserables, it is clearly evident that the elements of Forgiveness, Self Sacrifice, and Courage are merely a a few(prenominal) of the main themes Hugo wanted to develop. First off, is the element of forgiveness. In a book of mistrust, poverty, and hateforgiveness thrives in the world of Les Miserables. The first physical exertion of this was at the very beginning, when Jean Valjean stayed with the bishop. Valjean stole his fundsand ran off. He ends up being caught by police, but when the police questioned the bishop, he claimed to have given the silver to Valjean. Jean was confuseand the bishop claimed that with the silver, he had purchased the convicts soul, and had given it to God, and from that day forward, Valjean must be a good man. Another example of forgiveness goes two ways. Javert, in his unyielding p ursuit of Valjean, is captured by revolutionaries. In reward for saving the lives of a few of these revolutionaries, Valjean asks for, and gets, permission to take Javert outside, and kill him. Once outside, a small monologue occursand Valjean releases Javert, and lets him go free. Valjean just wanted to be left alone in peace, and hoped this typify of kindness would change Javert, and make him realize that Valjean was no longer the man he was. The second wayis that in the end, after Javert finally captures Valjean, he lets him go. Since Javert had downhearted the law that he loved so dearly, he kills himself shortly thereafter, by parachuting into a river. Secondly, we come to the element of Self-Sacrifice. This is also another widely used theme in Les Miserables. One such example of this element is with Valjean. He lets Marius and Cosette marry, and for a while, he seems all right with that fact. Later on however, he goes to Marius, and confesses to his past. He tells Marius hi s whole story, and thinks it best if he never sees Cosette again. Marius agreesbut allows Valjean the occasional visit. Only at the end, does Marius realize what a good man Valjean isand by then it was withal late. Valjean dies shortly after Marius and Cosette visit him to ask him to come back and live with them.Les Miserables, Theme (forgiveness, Self Sacrifice, And Courage) essays research papers It is precisely of him that I wished to speak. Dispose of me as you please but help me first to carry him home. I only ask that of you. Upon examination of Les Miserables, it is clearly evident that the elements of Forgiveness, Self Sacrifice, and Courage are only a few of the main themes Hugo wanted to develop. First off, is the element of forgiveness. In a book of mistrust, poverty, and hateforgiveness thrives in the world of Les Miserables. The first example of this was at the very beginning, when Jean Valjean stayed with the bishop. Valjean stole his silverand ran off. He ends up being caught by police, but when the police questioned the bishop, he claimed to have given the silver to Valjean. Jean was confusedand the bishop claimed that with the silver, he had purchased the convicts soul, and had given it to God, and from that day forward, Valjean must be a good man. Another example of forgiveness goes two ways. Javert, in his relentless pursuit of Valjean, is captured by revolutionaries. In reward for saving the lives of a few of these revolutionaries, Valjean asks for, and gets, permission to take Javert outside, and kill him. Once outside, a small monologue occursand Valjean releases Javert, and lets him go free. Valjean just wanted to be left alone in peace, and hoped this act of kindness would change Javert, and make him realize that Valjean was no longer the man he was. The second wayis that in the end, after Javert finally captures Valjean, he lets him go. Since Javert had broken the law that he loved so dearly, he kills himself shortly thereafter, b y jumping into a river. Secondly, we come to the element of Self-Sacrifice. This is also another widely used theme in Les Miserables. One such example of this element is with Valjean. He lets Marius and Cosette marry, and for a while, he seems all right with that fact. Later on however, he goes to Marius, and confesses to his past. He tells Marius his whole story, and thinks it best if he never sees Cosette again. Marius agreesbut allows Valjean the occasional visit. Only at the end, does Marius realize what a good man Valjean isand by then it was too late. Valjean dies shortly after Marius and Cosette visit him to ask him to come back and live with them.

Finding One’s Authentic Identity Essay -- Psychology

Deep inside all of us, we know there is someone who we were born as, grow up as, and will die as. We can feel when we are being true to ourselves, and conversely we can feel when we are pretending to be something other than our idiosyncratic selves. However, many people spend a lifetime searching to find exactly who this person is, and how to be this person all the time. However, it is difficult to determine how more of our identity is a non-changeable permanent part of ourselves, and how much has been cast over us like a cloak via external influences including culture, religion, disabilities, family, friends, pop culture, and the media. These perceptions, assumptions, and roles inevitably allude how we develop as people, and often cloud our authentic identities.Unfortunately, many people look to others to define themselves. This often results in being placed in roles we cannot excel in (Kubler-Ross & Kessler). These days, when surgery can alter everything from gender and body sh ape to face image and height, we feel as if we can change our inner identity. Books and self-help workshops shit become very popular as people embark on lifelong journeys of personal growth. People are no longer comfortable to squelch within fixed roles as perhaps our parents and grandparents once did, suggesting that we now have a greater choice over our identities than before. In Philippine culture, the family is the basic whole of society. Personally, my culture has greatly shaped my personal identity because I am a small part of something much greater than myself. In a handed-down Filipino family, the father is considered the head of the family and is viewed as the provider of the family (Enriquez). On the other hand, the mother is responsible for domes... ...Disabled People Issues for Discussion. World Rehabilitation Fund. (1980) n. page. Web. 29 Apr. 2012. .4.Funk, Robert. Disability rights from clique to class in the context of civil rights. New York Praeger, 1987. 7-30 . Web.5.Kitchen, Rob. Out of Place, Knowing Ones Place Space, power and the exclusion of disabled people. 3. 13. 1998. 343-356. Web. 6.Kubler-Ross, Elisabeth, and David Kessler. Life Lessons. New York Scribner, 2003. Print.7.Saroca, Cleonicki. Filipino Women, Migration, and Violence in Australia Lived Reality and Media Image. Kasarinlan Philippine Journal of Third World Studies. 21.1 (2006) n. page. Web. 28 Apr. 2012. .