Attention Deficit Hyperactivity Disorder ( Ocd ) - 875 Words

Pooh demonstrates two different disorders: Attention Deficit Hyperactivity Disorder (ADHD), and Obsessive Compulsive Disorder (OCD). This poor little brown bear â€Å"embodies the concept of comorbidity† (Shea, 2000). It is also thought that Pooh may exhibit certain traits of impulsivity. This can be demonstrated by his relentless attempts to obtain honey. Most notably, his poorly thought out attempt to get honey from a bee tree by disguising himself as a raincloud (Milne, 1926; Milne 1928; Reitherman, 1977). While this could be thought of as impulsivity, it would also be viewed as his cognitive impairment, in combination with his obsessive fixation with honey. â€Å"Pooh’s fixation on food and his repetitive counting behaviors raise the diagnostic possibility of OCD† (Shea, 2000). OCD is defined by the DSM-IV3 in two separate parts: 1. Obsession - â€Å"Recurrent and persistent thoughts, urges, or impulses that are experienced, at some time during the disturbance, as intrusive and unwanted, and that in most individuals cause marked anxiety or distress (4th ed.; DSM-4). 2. Compulsion – â€Å"Repetitive behaviors†¦ that the individual feels driven to perform in response to an obsession or according to rules that must be applied rigidly† (4th ed.; DSM-4). They also state that these two can be time consuming, taking up more than one hour of their day. Or that it can cause clinically significant distress or impairment in functioning areas of their daily lives (4th ed.; DSM-4). This is evidentShow MoreRelatedResearch, Techniques, Advancements for Children with Attention Deficit Disorder1913 Words   |  8 Pag esOnly ten years ago, many people didn’t know there were such things as Attention Deficit Disorder or Dyslexia, and, if they did, they didn’t believe they were to be taken seriously. Learning disabilities are becoming more and more common in children and adults. Currently statistics indicate that: 2.4 million students are diagnosed with learning disabilities, with as many as 1 out of every 5 people in the United States having a learning disability and almost 1 million young people (ages 6 through 21)Read MoreEducational Implications for Students with ADHD, Overt, and Covert1174 Words   |  5 PagesADHD â€Å"Attention-deficit/hyperactivity disorder (ADHD) is a condition affecting children and adults that is characterized by problems with attention, impulsivity, and overactivity† (CHADD). â€Å"It is a neurobiological disorder that affect 3-7 percent of school age children and may be seen as before the age of 7. The current diagnostic label is attention-deficit/hyperactivity disorder, however, in the past several other names have been used, such as brain-damaged, minimal brain dysfunction, hyperkineticRead MoreMental Disorders And The Severity Of The Disorders1681 Words   |  7 PagesPeople overlook and ignore mental disorders due to the skepticism of the severity of the disorders. Some people do not believe that disorders exist. An example, people who want out of certain situations or an excuse to not do something will use the word, anxiety, as an excuse. Parents who have kids that lack the knowledge of how to stay still and how to focus will use the term, Attention Defi cit Hyperactivity Disorder as an excuse, while the parents simply need to teach their kids in a harsher wayRead MoreAttention Deficit / Hyperactivity Disorder Essay1233 Words   |  5 PagesAttention Deficit/Hyperactivity Disorder Attention Deficit/Hyperactivity Disorder, (AD/HD), is a neurodevelopmental disorder defined by impaired levels of inattention, disorganization, and hyperactivity- impulsivity. ADHD stands for attention deficit hyperactivity disorder, while ADD stands for attention deficit disorder. ADHD is classified in the Diagnostic and Statistical Manual under neurodevelopmental disorders. (DSM-5). ADHD has been on the rise in the United States of America. Not only hasRead MoreGilles De La Tourette Syndrome2189 Words   |  9 Pagesphonic tics over a period of at least one year with the onset in childhood or adolescence. Apart from the tics, most of the patients with Tourette syndrome have associated neuropsychiatric comorbidities consisting of attention deficit hyperactivity disorder, obsessive compulsive disorder, rage attacks, sleep issues, depression, and migraine. Patients may also have physical complications directly from violent motor tics which can rarely include cervical myelopathy, art erial dissection and stroke. TheRead MoreEssay on Ticcing Away: Tourette Syndrome3162 Words   |  13 Pagesthe disease’s symptoms were part of a distinct condition different from other movement disorders. (Shimberg, 1995 p.25) Tourette studied several patients he believed to have the disorder. These studies included a French noblewoman who used to interject obscenities during conversation. (This is also known as coprolalia,) Tourette came to the conclusion that TS was hereditary, (Shimberg, 1995, P.67) that the disorder did not have any intellectual or psychological deterioration, (Shimberg, 1995, p.69)Read MoreAttention Deficit Hyperactive Disorder790 Words   |  3 PagesIt is estimated that roughly 11% of children and 4.1% of adults are diagnosed with attention-deficit/hyperactivity disorder (ADHD). This is a 40% jump in diagnoses in the past decade. Stimulants such as amphetamines are prescribed to treat ADHD to increase focus and as college students are becoming m ore overwhelmed by workloads, stimulants are becoming very commonly abused to make it through an all-night study session. Because of this there are several instances of students exaggerating symptomsRead MoreEssay on Severity of ADHD and Anxiety Rise if Both Develop1394 Words   |  6 Pagesof being disorders that is very common within our world. I also have both Anxiety and ADHD along with some of the other members of my family. Over time I have noticed that people with both anxiety and ADHD think differently then those who have anxiety or ADHD. Having both seems to makes a person think, act, and perceive things very different from having one or the other to the point where it seems to be its own disorder and symptoms. ADHD stands for attention deficit hyperactivity disorder. AmericanRead MoreTourettes Syndrome Essay2102 Words   |  9 Pagesneuropsychiatric disorder (not an illness) influenced by neurological, psychological, and sociological factors. It is characterized by involuntary tics - sudden, rapid, recurrent nonrhythmic movements or noises that occur repeatedly in the same way (Temple, 2003). 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The Gratifying Qualities Of Sophocles Antigone - 1567 Words

Antigone Shanice Douglas Ms. Masterson English Honors II September 18, 2015 The gratifying qualities of Sophocles tragedians plays, establishes him as one of the most infamous playwrights in Greek history. His refreshingly realistic themes and contradictory characters remain the topic of conversations today. Sophocles’ unorthodox approach of a female character also set him aside from other renowned playwrights. In his play Antigone, audiences are still indecisive on who is the tragic hero; Antigone or Creon. City law versus natural law is the primary issue in Antigone, characters are conflicted with the choice of breaking the law in order to do what is right. The events that occur display Sophocles’s view on human behavior and teaches the audience an important lesson on decision making and the effects of unbridled pride. Creon who is too blinded by his power and pride to look past the surface and seek different solutions, blatantly disregards the needs of his city and family. His impulsive decisions are the elements that contribute to his f all from grace. Antigone’s headstrong personality is admirable, because she breaks Creon’s decree in order to follow her beliefs. Creon deemed Polyneices, Antigone s brother an unhonorable fighter and retracts his natural right to be buried. Antigone did not fear the consequences when she buried her brother, she stood by her decision because she knows the God’s are the ultimate power. Sophocles play Antigone shows the truth of

Factors Affecting Academicperformance Free Essays

Problem and Its Setting Introduction Academic performance is measured by the standing of rates of grades of student in every subject. Having a high level of performance on the academic area of a student suggest its competency and high level of confidence on its certain field. Students have their own attitude towards learning and achieving a high level of academic performance. We will write a custom essay sample on Factors Affecting Academicperformance or any similar topic only for you Order Now The development of their enthusiasm towards succeeding in their own field varies. In order for a student to succeed he needs to be armed with strategies and techniques that will supplement his desire to reach his goals.One way is to have an efficient and adaptive study habit. This phenomenon can be linked to multi factors that affect their study habit. Such factors can be found in their environment, these includes the type of house they live in; the people around them and the level of support they give; the student and his family’s daily routines; the availability of resources for studying; and also his family’s economic status, etcetera. Calbayog City, geographically, is a large city and it is also the focal point of many municipalities in the islands of Samar.That is why apart from the majority of students with families living in the city, it is also common in schools to have students that live in boarding houses since these students live in places far enough from Calbayog City. Christ the King College, specifically the College of Nursing shares t his commonality which brings the researchers to wondering whether there are comparisons and differences among BS Nursing students living in their homes and boarding houses in relation to their academic performance. Statement of the problemThis study aims at finding the factors affecting the level of academic performance among the BS nursing student of Christ the king college. It specifically seeks to answer the following questions: 1. what is the profile of the BSN students in terms of; `1. 1 age; 1. 2 sex; 1. 3 residency; 1. 4 civil status 1. 5 socio-economic status; 1. 6 number of household members; 1. 7 daily allowance; 1. 8 person supporting education; 1. 9 available learning materials; 1. 10 educational attainment; 2. What is the performance rating of BS nursing student in their major subjects? . What are the factors that affect the level of academic performance of BSN students? 4. Is there a significant relationship between the student’s profile and their level of academic performance?5 What are the implications of the findings of the study which can be utilized as a bases for the factors affecting the level of academic performance? Statement of the purpose This study aims to determine the different factors affecting the level of academic performance among BS nursing students of Christ the king college. It also tries to attain the following objectives; . To determine the profile of the BSN students in terms of; 1. 1 age; 1. 2 sex; 1. 3 residency; 1. 4 civil status 1. 5 socio-economic status; 1. 6 number of household members; 1. 7 daily allowances; 1. 8 person supporting education; 1. 9 available learning materials; 1. 10 educational attainment; 2. To determine the performance rating of BS nursing students in their major subjects. 3. To determine the different factors that affects the level of academic performance of the BS nursing students. 4. To find out the significant relationship between the rofile of the students and their level of academic performance; and 5.To determine the implication of the findings of the study which can be utilized as bases for the factors affecting the level of academic performance of the students. Significance of the study The study attempts to find out the factors affecting the levels of academic performance of the BS nursing students in Christ the king college. The results of the study will benefit the following persons: The administrators- this study will help the administrators of the school to determine new strategies and policies to mprove the academic performance of the students. The family- this will give awareness on hoe they pose an effect to the student’s realization of a good study habit and on how they can be a good support system. The students- this will present measures of improving in their academic performance Scope and Delimitation of the Study This study will focus on finding out the factors affecting the BS nursing students of Christ the King College living in their homes and boarding houses in relation to their academic performances.The respondents of the study will be the whole 4th year BS Nursing students of Christ the King College, Calbayog City. The researchers aim to use researcher module questionnaires as tools in collecting relevant date and information from the respondents. This will be conducted at Christ the King College, Calbayog City on the second semester of the school year 2010 – 2011. Theoretical Framework A direct offspring or subset of Sigmund Freud’s theory is Martin Ford’s motivational systems theory (MST). This framework focuses on the individual as the unit of nalysis, but embeds the individual in the biological, social, and environmental contexts that are crucial to development. MST attempts to describe the development of the whole person-in-context, in much the same way a biologist might describe an individual plant and its relation to its immediate ecological niche, as well as the larger ecosystems in which it resides (Pintrich Schunk, 1996). Ford proposed a simple mathematical formula that attempts to represent all these factors in one model. The formula for effective person-in-context functioning is:Achievement = (Motivation x Skill ) x Responsive Environment Biological Structure The formula proposes that actual â€Å"achievement and competence are the results of a motivated, skillful, and biologically capable person interacting with a responsive environment† (Ford, 1992, p. 70). The motivational systems theory does not attempt to replace or supersede any of the existing theories. Instead, it attempts to organize the various motivational constructs from different theories into one model. The main constructs are self-efficacy eliefs, the role of expectancy, and goal orientation. The formula suggests that in any behavior episode, there are four major prerequisites for effective functioning: 1. The person must have the motivation needed to initiate and maintain the activity until the goal directing the episode is attained. 2. The person must have the skill necessary to construct and execute a pattern of activity that will produce the desired result. 3. The person’s biological structure and functioning must be able to support the operation of the motivation and skill components. 4.The person must have the cooperation of a responsive environment that will facilitate progress towards the goal (Ford, 1992). This model attempts to provide a comprehensive theory of motivation and proposes that actual achievement and competence are the results of a motivated, skillful, and biologically capable person interacting within a responsive environment. Conceptual Framework Conceptual Paradigm of the Study Figure 1: Schematic paradigm of the study showing the factors affecting the BS Nursing students of Christ the King College living in homes and boarding houses in relation to their level of academic performance.As seen in the diagram, the study attempts to evaluate the factors affecting the BS Nursing students of Christ the King College living in homes and boarding houses in relation to their level of academic performance. The point of the arrows indicates the possible relationship of these factors to students’ level of academic performance. Statement of the Null Hypothesis The identifiable factors of the BS Nursing students of Christ the King College living in homes and boarding houses does not influence their academic performance. Definition of TermsThe following words are defined operationally and conceptually to have a better understanding of the study: Factors. These include all the elements or causes that produce result (warren, 2000). In this study, these include the factors identified as affecting the level of academic performance of 4th year BS Nursing students living in their homes and those living in boarding houses. Student. It is a learner who is enrolled in an educational institution (wikipedia). In this study, these include the entire fourth year nursing student living in their homes and in boarding houses.Academic performance. Academic performance refers to how students deal with their studies and how they cope with or accomplish different tasks given to them by their teachers (wikipedia). In this study, this refers to the achievements of the nursing students in the academic areas of their study. CHAPTER II REVIEW OF RELATED STUDIES AND LITERATURE This chapter contains some studies and literature believed to be related or relevant to present study. Materials used were taken from different publications, books and websites on the internet written by both local and foreign authors. Related studiesUsing a nationally representative sample of the American households, we examine the relation between the parental involvement in schooling and the child’s school performance. With a sample of 179 children, parents, and teachers, we investigate 3 hypotheses: (1) the higher the educational status of the mother, the greater the degree of parental involvement in school activities; (2) the younger the age of the c hild, the greater the degree of parental involvement; and (3) children of parents who are more involved in school activities do better in school than children with parents who are less involved.In an analysis of cross-sectional data, we discover support for the 3 hypotheses. The educational status of the mother is related to the degree of parental involvement in schooling, so that parents with more education are more involved. Parental involvement is related to the child’s school performance. Also, parents are more involved in school activities of the child is younger. The mother’s educational level and the age of the child are stronger predictors of parental involvement of schooling for boys than for girls.We do not, however, find a direct effect of maternal education status on school performance independent of parental involvement is school activities. We discuss these findings in light of the relation between families and schools. Investigation that adopted refined measures of family influences have tended to show that they are related more strongly to academic outcomes than are more global measures of family background. Kellaghan and his colleagues (1993) conclude, for example, that family social status or cultural background need not determine a child’s achievement at school.They propose that for academic success, it is what parents do in the home, and not children s family background, that is significant. Similarly, Sam Redding (1999(indicates that in relation to academic outcomes, the potential limitations associated with poor economic circumstances can be overcome by parents who provide stimulating, supportive, and language-rich experiences for their children. It is important, however, to recognize the nature of the interrelationships between family background characteristics and more refined family influences. In the development of a model of human development, for example, Stephen J.Ceci and his colleagues (1997) propose that the efficacy of f family influence for academic success is determined to a large degree by a child s family background. They observe that parent-child interaction s are the forces that lead to academic performance. In addition, they claim that academic success is achieved only if family background resources can be accessed to maximize the association between family influences and outcomes: relationships between family influences and academic achievement need to tale into account the potentially constraining or expanding opportunities provided by children’s family backgrounds.An alternate perspective is the confluence model, which proposes that children’s academic development is affected by the number of children n families, the age spacing among children, and whether children are only, first, or last born in families. The model claims, for example, that with short birth intervals between children, increasing birth order is related to lower academic performance. In contrast, with sufficiently large intervals, the birth-order pattern maybe mitigated or even reversed.Home background according to PISA (programme international student assessment, 2000) influences academic and educatio nal success of students and schoolwork, while socio-economic status reinforces the activities and functioning of the teachers and students. The learning environment that is free of barriers, or obstacles or distractions such as noise, gas/smoke pollutions and so on can constitute health hazards, which in turn affect or reduce student’s concentration or perceptual or conceptual focus to learning (Sprinthall, 1987). www. thefreelibrary. om All of the research reviews support the hypothesis that student performance depends on different socio-economic, psychological, environmental factors. The findings of research studies focused that student performance is affected by different factors such as learning abilities because new paradigm about learning assumes that all students can and should learn at higher levels but it should not be considered as constraint because there are other factors like race, gender, sex that can affect student’s performance. (Hansen, Joe B. 2000).Some of the researchers even tried to explain the link between students achievements, economic circumstances and the risk of becoming a drop-out that proved to be positive (Goldman, N. , Haney, W. , and koffler, S. , 1998, Pallas, A. , Natriello, G. McDill, E. , 1989, Levin, H. , 1986) B. A Chansarkar and A. Mishaeloudis (2001), explained the effects of age, qualification distance from learning place etc. on student performance. The performance of students on the module is not affected by such factors as age, sex, and place of residence but is associated with qualification in quantitative subjects.It is also found that those who love near the university perform better than other students. (Alexander, Gur et al. 1974; Fraser, beamn et al. 1997) explained that some of the practices adopted by college administration in higher education like residential colleges or organized study groups also help to increase performance. www. scribd. com Philips (1998) also found that parental education and social economic status have an impact on student achievement. Students with parents who were both college-educated tended to achieve at the highest levels.Income and family size were modestly related to achievement (Ferguson, 1991). Peng and Wright’s (1994) analysis of academic achievement, home environment (including family income) and educational activities, concluded that home environment and educational activities explained the greatest amount of variance. www. thefreelibrary. com The above studies are somehow related to these studies because they also dealt on the different factors that influences the level of academic performance of the students. RELATED LITERATUREStudents who are motivated are likely to perform well in their examinations. There are many factors that may contribute towards students’ motivation to achieve high grades in school. This study focuses on one possible factor, that is, the student’s home environment. This study attempted to find out whether the differences in academic achievement motivation among students can be attributed to differences in their home environments. In this study it was assumed that student’s home environments could be a possible determinant of their variations in academic achievement motivation. The value that different families attach to education could affect the student’s attitude to school and eventually affect his or her motivation for success in schoolwork. Many homes differ on factors such as family size, availability of learning materials, the parents’ level of education, parents’ occupation, income, parental encouragement and involvement. Atkinson and Feather (1966) observed that the achievement motivation of children whose fathers have attained high educational level and are in high income occupations tend to be high.Heckhausen (1967) cites several studies that have shown that achievement motivation increases with socio-economic status. Children with a high family income tend to attain high academic performance in the sense that they are able to buy educational materials that can greatly help them in their studies. The type of environment he or she lives in influences level of academic performance of a student. Students that live in an environm ent not conducive for learning will technically shows a low academic performance. In a study by Gottfried and Fleming (1998), home environment was found to have a statistically positive and significant effect on academic intrinsic motivation. Children whose homes had greater emphasis on learning opportunities and activities were more academically intrinsically motivated. Atkinson and Feather (1966) also states that, children from favourable home environments tend to have a high need for achievement as opposed to those from unfavourable home environments. The term â€Å"home environment† refers to all the objects, forces and conditions in the home, which influence the child physically, intellectually and emotionally.Different home environments vary in many aspects such as the parents’ level of education, economic status, occupational status, religious background, attitudes, values, interests, parents’ expectation for their children, and family size among others. Children coming from different home environments are affected differently by such v ariations. Out of the many effects that the home environment may have on the child, academic achievement motivation was singled out for study in this research. CHAPTER III RESEARCH MEHODOLOGYThis chapter presents a description of the research methodology used in this study which includes the research design, the respondents, the research locale and time of the studies, sampling technique, instrumentations and the data gathering procedures. Local and time of the study This study will be conducted during the second semester of the school year 2010-2011 at the College of Nursing of Christ the King College, Calbayog City. The Respondents: The respondents in this study are ___ students from 2nd year to 4th year nursing students of the Nursing and IHAP Department of CKC.These nursing students are identified to be living at home with their family and at boarding houses far from their family. These students are officially enrolled in CKC during the first semester of school year 2010 – 2011. TABLE I FREQUENCY DISTRIBUTION OF THE RESPONDENTS OF THE STUDY RESPONDENTSNo. of BSN 2No. of BSN 3No. of BSN 4% Students living in their homes Students living in boarding houses TOTAL100% Variables of the Study: Dependent Variable: a comparative study of factors affecting the academic performance Independent Variable: BSN students of Christ the King College, Calbayog City, living in boarding houses and their homes.Research Design The expost facto-survey method of research will be used to determine factors that will affect the level of academic performance among the 4th year nursing student of CKC living at home and boarding house. Expost facto- a type of research designs, which attempts to understand relationship among phenomena as they naturally occur without any intervention; often referred to as correlation research In the ex-post facto design the researcher does not have direct control over independent variables because their manifestations have already occurred or because they cannot be inherently manipulated.The investigator therefore examined the impact of living in homes and boarding houses (independent variable) on the level of academic performance among 4th year BSN (dependent variable) after the effects have been experienced. Research instrument The main instrument to be used in data gathering is a questionnaire prepared by researchers. Questionnaire will compose of bio-data of the respondents, and the questions to be answered by the respondent provided with the responses for the specific problem of the study. To be attached in the questionnaire is a letter stating the purpose of the study and the request of the researcher to the respondents to answer the given questionnaire honestly and completely. Sampling technique Stratified random sampling will be used in selecting respondents in the study since students among BSN are divided into 2 groups, 1st group are the students living in their home and the 2nd group are the students living in boarding house. Data gathering procedure The researchers will undergo the following procedures for the conduction of this study.First, a draft of the questionnaire will be submitted to the research instructor for final correction and revision. The approved questionnaire will be reproduced and distributed to our respondents-the BSN 4th year students of Christ the king college listed in the college registrar. The significant information and data that we will obtain will be presented, interpreted, and analyzed. Republic of the Philippines Christ the King Colle ge Calbayog City Dear Respondents, Greetings!We, the researchers, are presently conducting a study entitled â€Å"Factors Affecting Academic Performance of BSN Students of Christ the King College†, in partial fulfilment of the requirements for the degree in Bachelor of Science in Nursing. In this connection, we would like to request you to be one of our respondents of this study, rest assured that your identity and responses shall be treated with outmost confidentiality. Thank you very much for your cooperation. Sincerely yours, De leon, Zandra Sabandal, Jhonabel Solano, Jember Tarrayo, Ma. April Valenciano, Brinell Yangzon, Divine Noted by: Mr. Ronil C. Bachao,BSN,RM,RN,MAN Research adviser How to cite Factors Affecting Academicperformance, Papers

Accounting For Corporate Entities International Financial Reporting

Question: Discuss about the Accounting For Corporate Entities for International Financial Reporting. Answer: Part A The Australian Governments requirement to adopt International Financial Reporting Standards (IFRS) by the Australian firms for yearly reporting periods starting from 1st Jan 2005 and onwards has put forth several challenges for financial accountants in the country. Though amendments in accounting standards and introducing new standards is a constant phenomenon, however, the complete espousal of an entirely novel set of accounting standards in the country is without any precedent. Many domains of financial reporting have encountered considerable changes. One domain where sizeable impact was seen is intangible assets. Currently, the reporting system in the nation that addresses the disclosure of intangible assets is primarily overseen by AASB 138 Intangible Assets, and AASB 136 Impairment of Assets, that became enforceable from 1st January 2005 (Griff, 2014). The ensuing paragraphs analyze the recognition and disclosure of intangible assets by Australian entities following the introd uction of AASB 138 in 2005. The shift to IFRS in Australia has had material implications for the financial reporting and disclosure treatments pertaining to intangible assets. Before the espousal of IFRS, there was no equivalent standard to the newly formed AASB 138. The only relevant standard addressing the question of reporting and accounting for the intangibles was AASB 1013 Accounting for Goodwill. Together with AASB 1015 Accounting for the Acquisition of Assets, that obligated business acquisitions to be accounted for through the use of purchase method, AASB 1013 established the model to treat this crucial category of intangible (Australian Government, 2005). Quintessentially it necessitated that goodwill emanating during acquisition should be accounted for in the consolidated balance sheet of the company acquiring the other company and later on be paid off against earnings following the straight line method over a period of not more than twenty years (Dagwell, Wines and Lambert, 2011). Though AASB 1013 widely addressed the suitable treatment of goodwill, there did not exist a holistic framework that established the reporting and accounting requirements pertaining to identifiable intangible assets like mastheads, licenses, patents, brand names and so on. Resultantly, the treatment of such assets was not consistent among Australian companies (ICCA, 2012). This new standard applied to assets acknowledged as non-monetary and identifiable having no physical existence, including trademarks, research and development, goodwill, brand names and mastheads. As per AASB 138, only those intangible assets which are acquired at cost get recognition, whereas, intangible assets that are generated internally do not get any recognition. The exception to this rule is goodwill which can be accounted for during its acquisition as a component of business merger (Carlin and Finch, 2010). Besides this, intangible assets like in-process RD obtained through a business merger should be separately recognized from goodwill if they emerge as an outcome of legal or contractual rights or are distinguishable from the business (Steenkamp and Steenkamp, 2016). The AASB 138, deals with defining, recognizing and disclosing intangible assets and mandates financial statements to reveal for every distinctive category of intangible asset: a) useful life, method and rate of amortization, and b) accumulated amortization and the total carrying amount during the start and end of accounting period. AASB 138 has made fundamental changes in the manner in which intangible assets were recognized, accounted and treated in the Australian continent. The IFRS adoption implies that formerly treated intangible assets that were generated internally required being de-recognized. This would also include internally generated mastheads, brand names, goodwill, customer lists, publishing titles and the likes (Cheung, Wright and Evans, 2008). During the pre-adoption era, the likely impact of IFRS on companies reported performance has been frequently discussed in specialized accounting literature. It has been extensively agreed by academics and practitioners that AASB 138 is likely to have a material effect on the financial statements of such companies that would be compelled to derecognize some forms of intangible assets like brand names. Brand names and other such intangible assets may symbolize a considerable fraction of value for the companies, with many asserting that most of their market value pertains to brands (Australian Government, 2004). Ji and Lu (2014) examined the projected impact of the AASB 138 by evaluating the financial reports of a fictitious company. They identified that the fictitious company is likely to witness a fall in its net assets and a rise in its debt to equity ratio. The researchers concluded that one impact of AASB 138 may be a rise in the number of companies facing difficulties in fulfillin g their existent debt covenants, and that these companies are likely to make adjustments in their financial records to satisfy the debt covenant mandates required by banks. AASB 138 allows two grounds for measuring intangible assets post their original recognition. Under the cost model, intangible assets are measured at cost minus accumulated amortization if any and accumulated impairment loss if any. Under the revaluation model, the intangible assets are measured at revalued amount. Para 78 of the standard says that trademarks, patents, mastheads, etc. do not have active markets as each of these assets is unique (Australian Government, 2010). If the revaluation model has to be employed then every asset falling in same category should be measured by the same framework. However, as not many intangible assets possess active market, the applicability of revaluation model will be very rare and hence intangible assets are not likely to be revalued under AASB 138. In conclusion it can be stated that AASB 138 has been introduced in Australia with the aim to set down the treatment of intangible assets that are not specifically addressed in any other standard. The introduction of IFRS norms in the country has altered the state of affairs pertaining to the treatment of intangibles substantially. A wholesale set of standards governing both unidentifiable and identifiable intangible assets are now present. In many instances, this has led to considerably distinct treatment becoming the rule the most apparent being the movement from an amortization based treatment of goodwill to an impairment based regime. Australian companies have shown skepticism regarding the advantages that accrue from the adoption of IFRS and AASB 138 in particular. They have expressed concerned regarding de-recognition of intangible assets generated internally and the restrictions to an entitys capacity to revalue the intangible assets. The reason behind such concern is that AA SB 138 necessitates intangible assets having a fixed useful life to be paid off during such useful life and the intangible assets having an imprecise life are subject to the test of impairment. Part B Journal entries related to issue and forfeiture of share Journal Entries in the books of Gilt Edge Investment Ltd Amount in $ Sr. No. Date Particular Dr. Amount Cr. Amount 1 28.02.2016 Bank a/c Dr. 1800000 To Share Application A/c 1800000 (Being application money received from on shares. (as per working note1) ) 2 28.3.2016 Share Application A/c Dr 1800000 To Share Capital A/c 1000000 To Share Allotment A/c 800000 (Being amount received on share application money transferred to share capital account and remaining amount to share allotment account ) 3 28.3.2016 Share Allotment A/c Dr. 440000 To First Call A/c 40000 To Second Call A/c 40000 To Share Capital A/c 360000 (Being the additional amount received on application adjusted against first call and second call and remaining amount paid back) 5 28.03.2016 First Call A/c 40000 Second Call A/c 40000 To Share Capital A/c (Being amount transferred to capital account) 6 28.3.2016 Preliminary Expenses 20000 To Banks A/c 20000 ( Being share issue expenditure paid) 7 15.4.2016 Bank A/c Dr. 240000 To Share Allotment A/c 240000 (Being amount received by remaining shareholders of allotment) 8 15.05.2016 Share Allotment A/c Dr. 240000 To Share Capital A/c 240000 (Being amount transferred to share capital account) 154000 9 1.06.2016 Bank A/c Dr. 154000 To First Call A/c (Being amount received by remaining shareholders of allotment) 10 1.06.2016 First Call A/c Dr. 154000 To Share Capital A/c 154000 (Being amount transferred to share capital account) 11 15.06.2016 Share Capital A/c Dr. 48000 To Forfeiture Account 48000 (Being shares forfeited and amount transferred to forfeiture account (working note 2)) 12 20.06.2016 Bank A/c Dr 48000 Forfeiture Account Dr. 6000 To share capital account 54000 (Being the discount on reissue adjusted against credit balance of share forfeiture account) 13 30.06.2016 Share Allotment A/c Dr 270000 To Bank A/c 270000 (Being amount refunded to defaulting shareholders) 14 30.06.2016 Preliminary Expenses A/c Dr. 4000 To Bank A/c 4000 (Being expenses paid related to forfieture of shares) Working Notes Working Note for ascertaining shares according to pro-rata basis: Sr. no. Applicants No. of shares allocated Shares 1 100000 100000/500000*400000 80000 2 200000 200000/500000*400000 160000 3 200000 200000/500000*400000 160000 Working Note 1 Calculation of share application money Sr. no. Applicants Amount Paid Amount 1 100000 100000*5 500000 2 200000 200000*4 800000 3 200000 200000*2.5 500000 1800000 Working Note 2 Calculation of balance in forfieture account Sr. no. Particular Amount 1 No. of shares forfeited 12000 shares 2 Amount received on share application 30000 3 Amount received on share allotment 18000 Total amount received 48000 Part C Statement of Profit or Loss and Other Comprehensive Income Statement of Profit or Loss and Other Comprehensive Income in one statement and classification of expenses within profit and loss by function Note (Amount in $) Income Sales 4,50,000 Expenses Cost of Sales 2,28,000 Inventory on hand 1,56,000 Gross Profit 5,22,000 Salary wages 42,000 Other Expenses 9,600 Depreciation 1 82,500 Insurance 19,000 Rent 4,600 Provision of Long Service Leave 8,000 Impairment of accounts receivables 2,000 Profit before Tax 3,54,300 Income Tax Expense (30%) 2 1,06,290 Profit for the year after tax 2,48,010 Notes to Account Note 1. Depreciation Particular Motor Vehicle Plant Equipment Office Furniture Opening Balance 44000 190000 96000 Depreciation as per books 11000 47500 24000 Closing Balance 33000 142500 72000 Total 82500 Journal Entries Sr. No. Date Particular Dr. Amount Cr. Amount 1 30.06.2016 Income Tax expense A/c Dr. 106290 To Current Tax Liability A/c 106290 (b) Assets Carrying Amount Tax Base Taxable Temprory Difference Deductible Temporary Differences Accounts receivable (net) 43000 45000 2000 Motor Vehicle 33000 28000 5000 Plant Equipment 142500 136000 7000 Office Furniture 72000 51000 21000 Provision for LSL 8000 0 8000 Insurance 13200 13200 13200 Rent 13000 0 13000 Total Temporary Difference 23200 46000 Deferred tax liability 30% 6960 13800 Deferred tax asset 30% Beginning balances Increase/(Decrease) 6960 13800 Depreciation as per taxation norms Particular Motor Vehicle Plant Equipment Office Furniture Opening Balance 44000 190000 96000 Depreciation as per books 16000 54000 45000 Closing Balance 28000 136000 51000 Total 115000 Journal Entry Sr. No. Date Particular Dr. Amount Cr. Amount 1 30.06.2016 Deferred Tax Asset A/c Dr. 6960 Provision for Tax Expenses A/c Dr 113130 To Deferred Tax Liability A/c 13800 To Income Tax Payable 106290 References Australian Government. (2004). Disclosing the Impacts of Adopting Australian Equivalents to International Financial Reporting Standards. [pdf]. Available through: https://www.aasb.gov.au/admin/file/content102/c3/AASB1047_04-04.pdf. [Accessed on 6th October 2016]. Australian Government. (2005). Consolidated Financial Reports in relation to Pre-Date-of-Transition Stapling Arrangements. [pdf]. Available through: https://www.aasb.gov.au/admin/file/content105/c9/INT1013_04-05.pdf. [Accessed on 6th October 2016]. Australian Government. (2010). Intangible Assets. [pdf]. Available through: https://www.aasb.gov.au/admin/file/content102/c3/AASB138_07-04_ERDRjun10_07-09.pdf. [Accessed on 6th October 2016]. Carlin, M. T. and Finch, F. (2010). 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