The other day I was discussing with a friend theories on the best way to use mind control to change a society. We decided the best place to do this would be to implement changes in the curriculum and social conditioning at the top colleges and universities.We realized that sleep deprivation works very good in mind control and therefore we would have lots of late-night parties with lots of alcohol and force the kids to study all night. This would prevent them from getting the sleep they need and therefore they would be more apt for us to control their minds.Next we decided that we would use this sleep deprivation and mind control tactic in order to introduce political correctness and a socialist viewpoint into the college students. After that we estimated that it would take a little less than 10 years to start reshaping society as these students got out into the workforce.We also noted based on all the research papers that we read that we can control the students in their jobs by stressing them out, getting them to borrow money and demanding political correctness or making them fear being fired. All the scenarios that we ran seemed to work.Indeed it is possible at the top colleges and universities to use mind control and sleep deprivation tactics to introduce a socialist viewpoint and political correctness to change an entire civilization in society. Interesting study isn’t it?I wonder if anyone else has ever thought of such a crazy idea; You think? I certainly hope this article is of interest and that is has propelled thought. The goal is simple, to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.
While the majority of us think that a university degree will advance us in our chosen careers, there are some who still think you should get there through hard work and not because of a piece of paper. Here we have a few comparisons between university and community college educations.One of the main, and very obvious advantages, is that you have the possibility of higher earnings in the future. While there is nothing in this world that guarantees you will be employed in your chosen field, the fact remains that if you are lucky enough to be, your potential earnings are greatly increased.University isn’t just about gaining your degree. This is obviously the reason for being there, but attending college is a life changing experience that has much to do with living on campus. You don’t get this experience from attending a community college.Sharing dorms with strangers who become friends and embracing the whole lifestyle is one of the major reasons that students choose to attend a university rather than a community college.There is a lack of diversity and ethnicity in community colleges, as the students are all from your area and you will probably know most of them anywhere. Universities have students from every religion, culture and nations that you can imagine.Realistically, the only way that you will experience this is if you attend one of the larger community colleges in a city that has very diverse cultures, like New York.By mixing with students from different backgrounds to your own, you get the opportunity to experience different cultures. This is often lacking from community colleges as the students will most likely be locals as opposed to a range of cultures.Another thing you’ll be missing out on by attending your local community college is the opportunity to experience the arts programs that the universities take great pride in. Going to a concert or to the theater with your fellow students is a big part of student life, so don’t miss out on it.
Accounting Education in Films
Because of major financial crises that have occurred in the past, many film producers choose to re-enact these events through movie productions. These producers were forced to incorporate technical accounting and financial principles to correctly portray the events leading to a financial crisis. “Other People’s Money,” a film released in 1991, by Norman Jewison, starred Danny Devito as Lawrence Garfield. Garfield’s success has come as a result of purchasing companies and liquidating their assets, which required accounting and financial theories. The accounting that is discussed during the movie directly relates to course material commonly studied in an intermediate level accounting class.
Garfield identifies an appealing company called New England Wire and Cable. He is aware that the company has a higher liquation value per share than market price per share. In addition, he is particularlyimpressed by this company because it has no debts, no legal liabilities, no environmental or contingent liabilities, and a fully funded pension. Garfield makes every effort to influence the owner to sell the company and illustrates to him how his assets are worth more after liquidation.
This movie incorporates many theories and topics presented at an intermediate accounting level. Topics such as Generally Accepted Accounting Principles (GAAP), liquidation, market value, historical costing, financial statements, and fair market value are frequently mentioned throughout the plot. A particular scene in the movie displays Lawrence Garfield explaining a very basic valuation analysis to the owner of New England Wire and Cable that simplifies the concept of “market value or price per share.” This calculation includes the addition of equipment at salvage value, land at fair market value, value of other operations, and working capital, totaled and divided by the number of shares issued and outstanding.
The equation is begun by explaining that equipment, purchased at 120 million dollars, has a salvage value of 30 million dollars. The concept of depreciation, which includes salvage value, or value of an asset at the end of its useful life, is an intermediate level accounting topic that is frequently referenced. Garfield continues by adding the fair market value of the land, as grazing land. When learning fair market value (FMV) in accounting education, it is commonly associated with impairments, a topic learned in intermediate accounting. New England Wire and Cable also conducts operations of plumbing electrical and adhesive, with added other revenues to Garfield’s calculation. Finally, working capital is added to this part of the equation. Working capital, particularly as a ratio, is constantly used in accounting and finance to show liquidity of a business by comparing current assets to current liabilities. In intermediate accounting courses, current liabilities are further discussed relating to gain and loss contingences.
To begin the second part of the calculation, Garfield decided to reduce the total by 25 million dollars because the wire and cable division of the company is not producing a profit and is being supported by the other divisions. He does this to be conservative. Conservatism has remained a large part of intermediate level accounting, specifically in acquisition and valuation of plant, property, and equipment. Following this new conservative total, Garfield calculates the value per share of 25 dollars by dividing by the number of shares issued and outstanding. The current owner of New England Wire and Cable mentioned that the initial market price was 10 dollars per share and Garfield refers to this as a “sale” since its liquidation value per share is 25 dollars.
The market price per share of stock is a current measure, not based on historical values. All of the variables needed to calculate the market price per share is given within a company’s financial statements. The difference been these two values is that the initial market value is what the stock is actually selling for per share while the liquidation value is what each share would be sold for if the company should go out of business and sell all assets. Typically, the market price per share should be higher than liquidation value. In addition to the actual calculation of a valuation analysis, students of intermediate accounting are continually educated on the preparation of financial statements, in compliance with the Generally Accepted Accounting Principles, otherwise known as GAAP.
In this short equation, each component included a number of accounting concepts that are discussed in intermediate level accounting. Each line item of the equation could be broken down into accounting ideas that directly relate to many other theories. As students are educated in the field of accounting, it is easily determined that each theory and concept is a building block for a more complicated and complex accounting problem.