What is a Gap Year and Where Did It all Start Essay

Where did it all start? With school supplies in hand each year like the annual migration of birds, student return to school. With growing pressure placed on this generation over previous, creating a burnout in students and limiting the full potential that could be reached is a common concern. The studying, test and exams have finished yet students continue straight from high school to college. Have you ever wondered why you must be returning to school each year in a process that has been non-stop since you were 5 years old and when do I get a change? A gap year can provide that change, considered to be a break in education between high school and university . Students from the United Kingdom, New Zealand and Australia have encouraged†¦show more content†¦All students are different and those that did not apply themselves during high school and graduated with a low GPA, a year off can be use the time off to become more mature and learn through working and dedication that it ca n pay off. While a majority of students are ready to join colleges, but others may be overwhelmed or unprepared to be away from home or dealing with the larger number of students that are on campuses. The rooted ideals of graduation in spring followed by college in early fall is the convention of students in the United States. However, the idea from across pond on pursuing interest after high school is starting to uproot the once steady stream of students. The founder of gapyear.com, Tom Griffiths, has been quoted as saying The U.S. is viewed in our sector as the sleeping giant, with the potential to surpass the rest of the world in numbers and possibly spending within the next five years. The limitation of one’s imagination is the only thing that holds back on what to do with having a year off. The time off should not be spent sitting on a couch watching the world pass you by but rather pursuing self-enrichment with volunteering, study abroad programs or personal travel ca n cost †¦ While individuals from Europe that have been growing up with the gap year as being a normal part of adulthood, Americans tend to Reasons for taking a gapShow MoreRelatedGeorge Saunders’ â€Å"The New Mecca†: The Gap between Reality and Conceptuality1281 Words   |  6 Pages Professor Walker Communication Skills George Saunders’ â€Å"The New Mecca†: The Gap between Reality and Conceptuality â€Å"The New Mecca† is an essay in which author George Saunders engraves different experiences he had throughout his Dubai trip. In the beginning he tells the readers that everything they are going to assumeRead MoreA Viewed World : A Fafable World815 Words   |  4 Pagesedition we were talking about how social gaps and I would love to talk about some that have been somehow more related to me in this trip. Furthermore, as I ´ve heard the phrase â€Å"we are not for everybody† so many times this month you will see it coming along with it in this blog edition†¦ Once I saw a video of a guy talking about the racism within the question â€Å"Where are you from†, I probably saw this video several years ago, even before experiencing by my own what it is to be abroad and even though theRead MoreThe Fight For Gender Equality1282 Words   |  6 Pagesongoing for fifty years. Women have been looked to as inferior in the workplace in the United States for the better part of a decade. While they have made tremendous strides in getting equalization, ladies are still cheated out of the money that men are receiving for the same career. The gender wage gap is real and it grows over worker’s careers. Though it used to be a gap because of education between the genders, the education gap has been switched genders, and if the gender gap was closed, thereRead MoreWages Pay For Women And Wages Paid905 Words   |  4 PagesResearch has identified several factors that contribute to the difference between wages paid to women and wages paid to men , commonly called the gender wage gap. Many say that these differences in the choices and behavior of women and men in balancing their work, personal, and family lives. These factors include, the occupations and industries in which they work, and their human capital development, work experience, career interruptions, and motherhood. Other factors are sources of wage adjustmentsRead MoreKey Women s Issues Of Hr1501 Words   |  7 Pagesin a speech to the National Press Club in March of this year. 52 years after the Equal Pay Act was passed, working women in the United States still face a gender pay gap no matter what career they are in and while we have made progress since 1963, recently any improvement on the wage disparity has remained stagnant. Woman have historically been treated unequally to men despite their non-majority status, and even to this very day in the year 2015 are still treated unequally and discriminated againstRead MoreThe Common School917 Words   |  4 Pages From the start of the common school, teaching as a profession has been designed for women. As settlers first began to move to and populate the West, people were greatly spread out with school districts covering wide expanses of territory. Students would travel miles to secure an education, but said education was not possible without a teacher there to guide them. School boards placed an emphasis on the role of women as natural-born nurturers and child-raisers, and seemingly found the perfect solutionRead MoreA Case Of Economic Sexism1089 Words   |  5 Pagesmale doctor and female doctor were hired for a pediatric position at the same time, and had equal experience and credentials. It was discovered however, the female doctor was paid $30,000 a year less than the male. This may seem like a small difference, however the slightest bit of money adds up over the years. Both doctors had experienced the same daily activities, the same education and knowledge, and the same amount of exper ience; their only difference being their gender (Stobbe). The economy determinesRead MoreWhy Should I Go College?907 Words   |  4 PagesWhy Should I Go To College? College? The one place where many people hardly decide about going to have a better education to start their lives? Why should you go to college? One article published by Holly Epstein Ojalvo, she based her article about Dale J. Stephens who is the founder of â€Å"UnCollege.† Stephens made â€Å"UnCollege† for individuals to find their own way to success without college. Another news writer Jennifer Ludden, published a different article â€Å"Going to College May Cost You, But So WillRead MoreThe Dream Act Of The United States1396 Words   |  6 Pagesadd a mentorship program, much like the University of Washington’s CAMP program, for those who are doing the 2 year minimum of college, which would start while they are in high school and follow them throughout their college careers. This act would encourage curiosity and passion, closes the gap at the bottom, and closes the numbers gap while simultaneously decreasing the education gap at the top. Imagine the pos sibilities. Some people say that we should not have the Dream Act passed nationwide.Read MoreThe Power Of Women In Kate Chopins A Respectable Woman1265 Words   |  6 Pagesnineteenth-century women had no rights. However, this changed when women decided to unify and fight for their rights.They were deprived of many things; for example, the right to suffrage, gender pay gap, and access to higher education but these are not all the battles that women wanted to fight. Women debated that all these rights were necessary in order to achieve equality to men. Through the powerful words of Sojourner Truth’s speech â€Å"Ain’t I a Woman†, we can see that women were not treated as equals to

Daisy Caulfield Minor Character - 1424 Words

A minor character in The Catcher in the Rye, written by J.D. Salinger, is Phoebe Caulfield, the main character, Holden’s younger sister. Holden describes his sister as not only the smartest kid in the world, but also a great dancer, and a very sympathetic listener. She’s also known as the funniest little sister ever. She is first introduced to readers when Holden says: â€Å"You d like her. I mean if you tell old Phoebe something, she knows exactly what the hell you re talking about. I mean you can even take her anywhere with you. If you take her to a lousy movie, for instance, she knows it s a lousy movie. If you take her to a pretty good movie, she knows it s a pretty good movie,† showing that the two siblings got along great (Salinger†¦show more content†¦The negative connotation is also caused by his innate anger at everything he perceives as phony, making the readers get a firm understanding of the anger that he possesses. Towards the beginning of t he story Holden narrates, â€Å"I m the most terrific liar you ever saw in your life. If I m on the way to the store to buy a magazine, even, and somebody asks me where I m going, I m liable to say I m going to the opera,† a couple of sentences encompassing the negativity from the teenager (Salinger 16). Phoebe Caulfield, in The Catcher In The Rye, is Holden Caulfield’s, the main character, sister. She is 10 years old and is bright, pretty, and is way mature for her age. Phoebe has r hair and is described by Holden as being roller-skate skinny, (Salinger 67). She is consider very successful in school, her best subject being spelling. One example of her intellect is when she corrects Holden with reference to some words to the Robert Burns poem which is the origin of the book’s title. There aren’t any direct comments or descriptions In the novel, because there isn’t an unbiased narrator. This is because the only narrator in the story is Holden, who v ery early in the story is not as a very unreliable narrator. Many of his descriptions and opinions are reflections of his own insecurities and opinions. In The Catcher In the Rye, there are both static and dynamic characters. One static character would be Phoebe Caulfield. This would be because at the beginning of

Business Accounting The Process of Financial Reporting

Question: Describe about the Business Accounting for The Process of Financial Reporting. Answer: Introduction The present study concentrates on the evaluation of the notion of prudence in the process of financial reporting with special reference to the functionalities of the corporation Sea link Travel Group. In addition to this, the present segment also emphasizes on the reason behind the significance of prudence in financial reporting and elucidates different examples of application of the prudence in the annual report of Sea Link Travel Group. Thereafter, the present section sheds light on the discussion as to application of prudence. Furthermore, the present segment also expounds in detail different implications of the applications of prudence for financial reports in future financial year. Sea Link Travel Group is an Australian public corporation that functions as tourist as well as travelservices. 1: Evaluation of the concept of Prudence As mentioned in the Framework for the Preparation and Presentation of Financial Statements that is the complied framework issued by AASB, prudence can be considered as the addition of a certain degree of concern in the process of establishment of judgement required in presenting the approximation necessary under circumstances of uncertainty (Aasb.gov.au 2016). The maintenance of prudence can help in avoiding overstatement of the assets as well as income and understatement of the liabilities as well as expenses. The preparers of the financial declaration need to deal with the uncertainties that unavoidably surround definite events as well as state of affairs that include the collection of different doubtful receivables, plausible economic life of plant as well as equipment including the number of the warranty claims that might happen (pwc.in 2016). The notion of prudence also referred to as the conservatism principle can therefore, be regarded as the accounting principle that calls fo r the need of registering diverse assets as well as liabilities as soon as they take place but recording revenues only after realization or when they are necessarily assured as mentioned in AASB 118 (Aasb.gov.au. 2016). Therefore, in the present case, the management o f the company Sea link Travel Group need not recognize assets at a greater value that the particular amount that can be recovered from the sale or application. Similarly, the management of Sea Link Travel Group also need to ensure that liabilities are not identified at a lower value than what is anticipated to be in the forthcoming period (Sealinktravelgroup.com.au 2016). 2: Reason behind the significance of prudence in financial reporting As mentioned in the Framework for Preparation and Presentation of Financial Statements (AASB CF), the concept of prudence has need of exercising a degree of caution in the process of adoption of strategies and significant approximation (accaglobal.com. 2016). This can ensure that the assets as well as the income of the business entity are not overemphasized while liabilities and at the same time expenses are not understated. Therefore, the justification behind prudence is that the accounting principle can help in ensuring that the corporation need not identify an asset at a value that is higher than the amount that is anticipated to be recovered from the sale or application (Ifrs.org 2016). There remains inherent risk associated to the overstatement of the assets and the earnings of the corporation by the management. This also includes understatement of the liabilities as well as expenses. In addition to this, the risk essentially stems from the fact that corporations often gain adva ntage from enhanced-reported profitability in addition to lower gearing through cheaper resource of finance and at the same time higher prices of share. Again, there exists risk associated to the advantage provided in the process of selection of the accounting strategies and approximations that might again lead to bias in the process of preparation and at the same time presentation of the financial declarations directed at enhancing profitability as well as financial position by means of inventive accounting procedures. Therefore, the notion of prudence can help to make certain that this kind of bias can be encountered by the implementation of concern for process of approximation and the acceptance of accounting strategies. 3: Examples of application of the prudence in the annual report of Sea Link Travel Group The analysis of the financial statements of the corporation Sea Link Travel Group is presented as per the requirements of the Australian Accounting Standards as well as the Corporations Act 2001. As mentioned in the annual declaration of the company Sea Link Travel Group, the adherence to different accounting principles can ensure maintenance of internal controls that can enable the process of preparation of financial declaration free from material misstatement (Sealinktravelgroup.com.au 2016). The company maintains prudence to ensure presentation of the true and fair view to the users of the financial statements. For example, the revenue identification is essentially carried out on condition of the fulfillment of certain recognition criteria that can help in averting the overstatement of the same. Revenue of the corporation Sea Link Travel Group registers revenue when the significant risks as well as rewards of the possession of the goods can be passed to the purchaser and the cost borne can be enumerated reliably (Tourism | australia.gov.au 2016). Again, the revenue of the corporation from the ferry services are essentially recognized based on the departure date in which the consumers or else the groups that have made payments for the travel associated to the services have in reality departed. In addition to this, the revenue is also identified as the interest accrues by application of the effectual interest mechanism. In addition to this, the government grant can also be recognized at the time when there is rational assurance that the particular grant will be collected and it also adheres to different connected conditions. Again, yet another example of maintenance of prudence by the management of Sea Link Travel Group is recognition of the government grants. As per AASB 120, government grants need to be identified in profit or else loss on a methodical foundation over the time in which the business entity can identify as expenses the associated costs for whi ch the specific grants are proposed to compensate (Aasb.gov.au 2016). There are two different approaches that is the income approach and the capital approach for identification of the grant as per the standard. As per the annual statement, it can be hereby ascertained that the management of the corporation sea Link Travel Group abides by the accounting principles of prudence to avoid overstatement of the earnings and understatement of the liabilities. Discussion concerning application of prudence The applicability of the concept of prudence refers to the accounting principle that is essentially directed at the aversion of the registering different unrealised benefits and to be on guard for registered losses that can probably arise. The notion of prudence can be implemented while valuation of diverse current assets that comprises of the inventories, trade receivables, and present investments in the financial reports of Sea link Travel Group. In addition to this, the prudence also has the need for provisions for different probable events associated to loss that comprises of provision for doubtful debts. Again, the principles also include different accounting principles that refer to valuation of the inventories as per AASB 102 (Inventories) well as accounting for investments. Therefore, there is an insinuation of prudence in the standard on diverse fixed assets. Grounded on the principles of prudence, the accounting principle mentions that the valuation of the inventories needs to be valued with the intention of presentation of the financial declarations at cost or else the net realizable value and application of the one that is of lower value. In this way, the business concern also recognizes different probabilities regarding loss that are likely to stem owing to the decrease in the overall selling price of the entire commodity. However, the inventories are essentially valued at cost otherwise at the market value for a l ong period until the new standard on the prudence became operative. As mentioned in the annual report of the corporation Sea Link Travel Group, the inventories are essentially valued at the lower of the cost as well as net realisable worth (Sealinktravelgroup.com.au 2016). Again, the expenses of the firm are also identified net of the amount of the goods and services tax barring certain cases (accaglobal.com 2016). 4: Implications of the applications of prudence for financial reports in future financial year The application of the prudence in financial reports of the company Sea Link includes making provisions for doubtful debts in anticipation of actual bad debts, no provisions for discounts on creditors (Aasb.gov.au 2016). This also includes making provisions for discount on debtors with regard to discount, valuation of the stock-in-hand at the market price or else the cost price, whichever is lesser. In the present case, the company is said to government grant only when there is practical assurance regarding the receipt of the grant and compliance with other attached stipulations (PwC 2016). This practice is in compliance with the principles laid down in the definition, scope and accounting treatment of grant as conditioned under AASB 120 (Aasb.gov.au. 2016). As mentioned in the annual report of the corporation, Government grants are documented in profit or loss on a methodical basis over the time in which the business concern identifies as expends the associated costs for which the p articular grants are proposed to compensate (Sealinktravelgroup.com.au. 2016). This also complies with the accounting principles stated under AASB 120 10A (recognition and measurement). Again, the annual statement of the company Sea Link Travel Group states that Government grants when identified as assets are credited as deferred income in fair value and declared in the comprehensive income over an anticipated economic life of the respective asset by identical amount of annual installments. This also adheres to the principle as mentioned under AASB 120 paragraph 24 (Presentation of Grants Related to Assets) (Aasb.gov.au 2016). Therefore, it can be hereby inferred that there is maintenance of prudence in this case. Again, the prudence in statement of revenue requires adherence to certain principles. As mentioned in the conceptual framework AASB, revenue needs to be earned that stems from different business activities (Accaglobal.com 2016). This revenue also needs to augment economic benefits. In line with the requirement of the accounting standard, the management of the company Sea link Travel Group also identifies revenue to the extent that becomes possible that economic advantages can flow to the business entity that in turn can permit reliable measurement of the revenue (Sealinktravelgroup.com.au 2016). Conclusion The above study helps in understanding the notion of prudence as per the Framework for the Preparation and Presentation of Financial Statements that is the complied framework issued by AASB. This provides a clear overview regarding the importance of maintenance of prudence that can help in avoiding overstatement of the assets as well as income and understatement of the liabilities as well as expenses. Thereafter, the study provides deep insight regarding the justification behind prudence that replicates the fact that accounting principle can help in ensuring that the corporation need not identify an asset at a value that is higher than the amount that is anticipated to be recovered from the sale or application. In addition to this, the present study also elucidates in detail the implementation of the notion of prudence with special reference to the operation of Sea Link Travel Group. References Aasb.gov.au. 2016.Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au [Accessed 26 Sep. 2016]. Accaglobal.com, A. 2016.Global body for professional accountants | Accountancy | ACCA | ACCA Global. [online] Accaglobal.com. Available at: https://www.accaglobal.com [Accessed 26 Sep. 2016]. Ifrs.org. 2016.IFRS - Home. [online] Available at:https://www.ifrs.org[Accessed 26 Sep. 2016]. Sealinktravelgroup.com.au. 2016.Home - Sealink Travel Group - Sealink Travel Group. [online] Available at:https://www.sealinktravelgroup.com.au[Accessed 26 Sep. 2016]. Chartered Accountants Australia and New Zealand. 2016.Charteredaccountants.com.au. Retrieved 29 September 2016, from https://www.charteredaccountants.com.au Sealinktravelgroup.com.au. 2016. Retrieved 29 September 2016, from https://cdn.sealinktravelgroup.com.au/Documents/Presentations/SLK_Full_Year_Results_2014.pdf Tourism | australia.gov.au. 2016.Australia.gov.au. Retrieved 29 September 2016, from https://www.australia.gov.au/information-and-services/passports-and-travel/tourism Aasb.gov.au. 2016. [online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/ITC29_07-13.pdf [Accessed 29 Sep. 2016]. Accaglobal.com, 2016. [online] Available at: https://www.accaglobal.com/content/dam/acca/global/PDF-technical/financial-reporting/tech-tp-prudence.pdf [Accessed 29 Sep. 2016]. PwC. 2016.Prudence returns: new IASB exposure draft reintroduces controversial term. [online] Available at: https://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/iasb-prudence-conceptual-framework.html [Accessed 29 Sep. 2016]. pwc.in. 2016. [online] Available at: https://www.pwc.in/assets/pdfs/publications/2015/pwc-reportingperspectives-july-2015.pdf [Accessed 29 Sep. 2016].