The Chemistry of Love

According to Dr. Helen Fisher, a researcher at Rutgers University, chemistry and love are inextricable. Shes not speaking, though, of the chemistry that makes two people compatible. Instead, shes speaking of the chemicals that are released into our bodies as we experience lust, attraction, and attachment. Chemicals in Each Stage of Love We may think that were using our heads to govern our hearts, but in fact (at least to a degree) were simply responding to the chemicals that help us experience pleasure, excitement, and arousal. Dr. Fisher says there are three stages of love, and each is driven to a degree by a particular set of chemicals.  Ã‚  There is a lot of chemistry involved in feeling attachment, sweaty palms, butterflies in your stomach, etc. Take a look at some of the key biochemical players. Stage 1: Lust If youre feeling eager for a sexual encounter with someone (even if youre not quite sure who youll end up with), chances are youre reacting to the sex hormones testosterone and estrogen. Both of these hormones play an important role in increasing libido in both men and women. Testosterone and estrogen are generated as a result of messages from the hypothalamus of the brain. Testosterone is a very  potent aphrodisiac. Estrogen can make women more libidinous around the time they ovulate (when estrogen levels are at their peak). Stage 2: Attraction Lust is fun, but it may or may not lead to real romance. If you do make it to stage 2 in your relationship, though, chemicals become increasingly important. On the one hand, chemicals associated with attraction can make you feel dreamy. On the other hand, they can make you feel anxious or obsessive. People who are in this early phase of falling in love may even sleep less, or lose their appetite!   Phenylethylamine or PEA: This is a chemical that naturally occurs in the brain and is also found in some foods, such as chocolate. It is a stimulant, much like an amphetamine, that causes the release of norepinephrine and dopamine. This chemical is released when you are falling in love. Its responsible for the head-over-heels, elated part of love.Norepinephrine: When PEA causes this chemical to be released, you feel the effects in the form of sweaty palms and a pounding heart.Dopamine: Dopamine is a neurochemical that appears to be associated with mate selection. An Emory University study found that voles (a type of rodent) chose their mate based on dopamine release. When female voles were injected with dopamine in the presence of a male vole, they could select him from a group of voles later. Stage 3: Attachment Now that youre really committed to someone else, chemicals help you stay connected. Oxytocin: Dopamine triggers the release of oxytocin, which is sometimes called the cuddle hormone. In both genders, oxytocin is released during touching. In women, oxytocin is released during labor and breastfeeding.Serotonin: A chemical that is more prevalent among people with compulsive disorders, serotonin can increase our dependence on another person.Endorphins: Your brain acquires a tolerance to the love stimulants and starts to release endorphins. The honeymoon is over, chemically, around 18 months to 4 years into a relationship. However, this isnt all bad.  Endorphins are associated with feelings  of attachment and comfort. Endorphins are like opiates. They calm anxiety, relieve pain and reduce stress.

The American Revolution - 1190 Words

The Daughters of the American Revolution was founded with the intent to preserve American history. However what was the rationale behind the need for an organization of this kind? Because the Daughters of the American Revolution (D.A.R.) limited its membership to only descendants of participants in the war and created a focus on the importance of ancestry, leads the belief that there were another motivating factor behind an organization of this type. Influencing the founders of the D.A.R. was both the Civil War and the rising immigration to the United States. The Civil War ended with slaves becoming freemen and citizens, affecting the definition of citizenship. Also the war increase patriotic drive in the citizens which directly lead the forming of the patriotic group, The D.A.R. Immigration boomed during the nineteenth century and like the situation with freedmen changed the makeup of American citizenship. The D.A.R. was created as a reaction to theses social changes. Atmosphere in America Leading to the D.A.R. The Daughters of the American Revolution was founded during a time of big changes in America. The Civil War was a major event in the nineteenth century. The war affected the entire population of America, because of both how it involved men and women and how it took place on American soil. Part of the Civil War’s importance to D.A.R. is the three factors that the war resolved that was left over from the Revolutionary War. These connections to theShow MoreRelatedThe American Revolution : The Revolution1367 Words   |  6 PagesThe American Revolution Revolutionizes the World It was the first revolution to majorly succeed and change how people saw their countries, it was the American Revolution. The American Revolution was the first successful revolution against a European empire that provided a model for many other colonial peoples who realized that they too could break away and become self-governing nations (New world Encyclopedia, 1).The American Revolution was vital to history because ideas seen by other countries startedRead MoreThe Revolution Of The American Revolution999 Words   |  4 PagesBetween 1770 and 1776, resistance to imperial change turned into a full-on revolution. The American Revolution, also known as the Revolutionary War, was a time of revolting and political uprising, in which the 13 colonies separated from the British Empire, forming the independent nation known as the United States of America. Though the American Revolution began because the colonies wanted independence from Britain, many important historical events and revolts also lead to the tensions and resistanceRead MoreThe Revolution Of The American Revolution1362 Words   |  6 PagesEvery 4th of July, Americans are told the story of the American Revolution. We remember the oppressed colonists fighting against the tyrannical King George III and the formidable red coats. Patriotic heroes are remembered, evil kings are cursed, and the liberties and freedoms won from the war are celebrated. Though America often likes to look back to the revolution, the question of just how much a revolution was the American Revolution is rarely asked. While the American revolution was not as radicalRead MoreThe Revolution Of The American Revolution863 Words   |  4 PagesThere are many different views on how the American Revolution came to be and how it actually was. One way is that the colonists that had money and were known as the elite were trying to preserve their power from the British and this is what caused the revolutionary war. Then on the other hand bef ore the revolutionary war occurred when the colonists were being over controlled by the British, then in result of the American Revolution the colonists were able to win against the British and become strongerRead MoreThe Revolution Of The American Revolution1582 Words   |  7 Pagesâ€Å"The revolution was effected before the war commenced. The revolution was in the minds and hearts of the people.† - John Adams, 1818 This quote means that the revolution actually took place metaphorically before the actually fighting began. It took place in the emotions and thoughts of the Americans. The Road to Revolution After the Seven Years’ War created a financial problem for Britain The British tried to shoulder some of the financial responsibilities onto the Americas in the form of variousRead MoreThe Revolution Of The American Revolution850 Words   |  4 PagesIn regards to the American Revolution, the point that armed rebellion became inevitable arrived when after nearly five constant years of American colonist protesting. American s had enough and needed to take a stand for the numerous inequalities they were forced to deal with. It was foreseeable that the American Revolution took place due to the unfair taxes that the British were giving Americans. Also, England was not allowing Americans their freedom, along with violence and the political dominanceRead MoreThe American Revolution. The American Revolution Started1581 Words   |  7 PagesThe American Revolution The American Revolution started when King George the 3rd decided to make the American Colonies pay a large amount of money for the debt of the French and Indian War by giving the colonist different types of taxes like the Sugar Act in 1764. The sugar Act of 1764 was a British Law that was passed on April 5, 1764, that collected incomes from the 13 colonies. The act put a huge tax on the sugar and molasses that were imported into the colonies which were a huge impact for theRead MoreThe American Revolution1337 Words   |  6 PagesThe American Revolution was much more than an insurrection against British tariffs and patronage decree. Rather, it was a bureaucratic catastrophe in which colonists from the thirteen American colonies denied the British sovereignty, eradicated the jurisdiction of Great Britain and established the United States of America. The upheaval was a primitive modern revolution in which generality traversed for liberty in the statute of law, constitutional privilege and supremacy. Ensuing years of contentionRead MoreThe American Revolution889 Words   |  4 PagesThe American Revolution was one of the most vital events in American History lasting form 1775 to 1783, it effected the nation socially, economically and politically. The American Revolution brought upon many changes in America, and freedom of the nation. The Revolutionary War was a stepping stone to what we are as a nation today, it created both short and long-term effects on the world. When wanting to blame a certain side, the British politicians or the American agitators, several key points leadRead MoreThe American Revolution993 Words   |  4 PagesThe topic of the American Revolution is a topic that has been discussed on multiple levels and is extremely well-known, especially within the United States. The details are a little on the generic and basic side but it is at least understood on some level. Most people are aware of the American standpoint, the what, why, how, and when , but there is much more depth to what occurred. The war was obviously between the Americas and the Mother country of Britain, but there were more than just those two

fidel castro Essay - 866 Words

The United States of America is a country that believes in democracy and has unfavorable ties with communist countries. The United States has tried for decades to improve relations with the countries that don’t practice democracy. History shows disagreements between the United States and dictators of these irreverent countries, disagreements that brought the world to the brink of nuclear war. The most recent of these confrontations involved three countries. United States of America, Cuba and the Union of Soviet Socialist Republic (USSR). Fidel Castro is a Cuban revolutionary, who took control of Cuba in 1959 and established a Communist dictatorship. Castro, who was born in Mayari, became the leader of an underground, anti-government†¦show more content†¦A complete break in diplomatic relations occurred in 1961. On April 17 of that year, anti-Castro exiles supported and trained by the United States government, landed an invasion force in the Bay of Pigs in southern Cuba. Ninety of the invaders were killed, and some 1200 were captured. President Castro announced May 17 that Cuba would exchange prisoners taken at the Bay of Pigs for 500 U.S. bulldozers. Negotiations broke down June 30, and Castro declared himself a Marxist-Leninist on December 2. He announced formation of a united party to bring communism to Cuba. Relations between the United States and Cuba grew still more perilous in the fall of 1962, when the United States discovered Soviet-supplied missile installations in Cuba. United States President, John F. Kennedy announced a naval blockade of the island. Nikita Sergeyevich Khrushchev, Soviet Communist leader, who was first secretary of the Soviet Communist Party from 1953 to 1964 and president of the Union of Soviet Socialist Republics (USSR) from 1958 to 1964. After the death of Joseph Stalin in 1953, Khrushchev became the head of the Communist Party of the USSR. In 1961, relations between the United States and the Union of Soviet Socialist Republics (USSR) grew increasingly hostile. President Kennedy and Soviet leader Nikita Khrushchev had a strained meeting in Vienna, Austria. Later that year, the Communists in East Germany ordered a wall be built on the border between East and WestShow MoreRelatedFidel Castro2633 Words   |  11 PagesThere are many views that people have of Cuba’s Fidel Castro. Castro is a figure with opinions on both ends of the spectrum. While he is not worldly popular at this point in his life, he was immensely beneficial to his country. Fidel Castro, leader of Cuba for the past 50 years may not be viewed in the best light, but he did phenomenal things for his people which makes him one of the most undervalued and overlooked political figures. Fidel Castro Ruz was born in Biran, Cuba on August 13, 1926 (BritannicaRead MoreFidel Castro5049 Words   |  21 PagesFidel Castro’s Influence on the Cuban Revolution, 1953-1959 The year was 1953 and Fidel Castro was a dashing and daring reformer that was determined to make a impact in a country that was ruled by an unjust president. With the Movement strong and confident, Castro delivered these strong words to his group of men: â€Å"In a few hours you will be victorious or defeated, but regardless of the outcome – listen well, friends – this Movement will triumph. If you win tomorrow, the aspirations of Martà ­ willRead MoreFidel Castro Is Alive1443 Words   |  6 Pages Upon his release, Castro went to Mexico where he spent the next year organizing the 26th of July Movement, which was based on the date of the failed Santiago de Cuba barracks attack. On December 2, 1956, Castro and the rest his fellow rebels of the 26th of July Movement landed on Cuban soil with the intention of starting a revolution. They were only met with the welcome of heavy Batista defenses, causing nearly everyone in the Movement to be killed. Barely anyone escaped, and those who did whichRead MoreEssay on Fidel Castro1274 Words   |  6 PagesFidel Castro The first journey for Christopher Columbus to the New World landed him in what we know as present day Cuba. The Spaniards occupied the island because of the great location and marketable importance that came about in the eighteenth century. Throughout time, Cuba has been under the control of dominant countries, such as Spain and the United States. The colonization process has been the consistent factor in Latin American countries, leaving the colonized without a senseRead MoreBiography of Fidel Castro1982 Words   |  8 PagesFidel Castro was born on August 13, 1926 in the Bà ­ran, Cuba. (See Figure 5) Fidel grew up in wealthier circumstances than most Cubans at the time, amid the massive and growing poverty. His father, à ngel Castro y Argiz, was originally an immigrant from Spain. During Fidel’s childhood, à ngel was a fairly prosperous sugarcane farmer on a farm that had been dominated by United States owned United Fruit Company. His mother, Lina Ruz Gonzalez, was a maid to Angels first wife, during Fidel’s infancy. ByRead MoreThe Life of Fidel Castro631 Words   |  3 Pages Fidel Alejandro Castro Ruz, born in Birà ¡n, Cuba on August 13, 1926, changed his country ever since he came to power. Castro’s father, à ngel Castro y Argiz, was a wealthy plantation owner and was an immigrant from Galicia, Spain. His mother, Lina Ruz Gonzà ¡lez, was à ngel’s mistress and house servant while à ngel was still married to Maria Luisa Argota. Castro was educated in many Jesuit boarding schools, from grade school to middle school, in which he was a mediocre student and was not well behavedRead MoreEssay on Fidel Castro3330 Words   |  14 PagesFidel Castro In 1959, a rebel, Fidel Castro, overthrew the reign of Fulgencia Batista in Cuba; a small island 90 miles off the Florida coast. There have been many coups and changes of government in the world since then. Few if any have had the effect on Americans and American foreign policy as this one. In 1952, Sergeant Fulgencia Batista staged a successful bloodless coup in Cuba . Batista never really had any cooperation and rarely garnered much support. His reign was markedRead MoreEssay on Fidel Castro855 Words   |  4 Pages Biography of Fidel Castro Fidel Castro was born on August 14, 1927 in Mayari, Cuba. His parents were relatively wealthy and owned a sugarcane plantation. During his childhood, he attended private Catholic Schools and graduated to attend the University of Havana in 1945. His teachers immediately noticed Fidels amazing memory, which he used to memorize entire books. At the university, he majored in law studies and became a member of several groups that opposed the Cuban regime, aiding exiles fromRead MoreFidel Castro Essay590 Words   |  3 PagesFidel Castro Fidel Castro Ruz was born on August 13, 1926, on his familys sugar plantation near Biran, Oriente province, Cuba. His father, originally an immigrant laborer from Galicia, Spain, became owner of a 23,000-acre plantation. As a boy, Castro worked in the familys sugar cane fields and at 6 years old convinced his parents to send him to school. He attended two Jesuit institutions, the Colegio Lasalle and the Colegio Dolores, both in Santiago. In 1942 he entered the ColegioRead MoreWho is Fidel Castro?2567 Words   |  10 PagesFidel Castro is arguably one of the most famous political leaders to ever live. He is internationally recognized for being a revolutionary, a supporter of communism, and an opposition of imperialism. Eugenia Charles is just as influential and recognizable around the World. She was the first female lawyer and Prime Minister of Dominica, and only the second female Prime Minister in Caribbean History. The contributions these two individuals have had on their respective nations have led to massive improvements

William Shakespeare s Romeo And Juliet - 794 Words

Romeo and Juliet Essay It’s hard to search past the blinding flashes of Romeo and Juliet’s demise; it says so in the first couple lines of the play. But there s much more to the dramatic story than holding your breath against the inevitable. Within the structure of the building that is the play, there is symmetry, an almost reflection. The image is a part of the whole which is the tones and structure of the play. One of those reflections is the bright yellow of a party and the inky depth of blue the funeral possesses on the other side of the play. The tale of the two lovers at first seems to rush quite quickly, yet still seeming controlled. When they meet at the party the two seem so perpetually attracted that the the tone is almost lost because time suddenly slows. The joy in the party is subtly incorporated into the characters speech when they talk to each other. Lord Capulet addressing the party and revealing how exuberated he is over the party s excellence then begins talking to cousin Capulet,â€Å" A hall, a hall, give room!-And foot it girls.- More light, you knaves, and turn the tables up, And quench the fire; the room is grown too hot.-Ah, sirrah, this unlooked-for sport comes well.-Nay, sit, nay, sit, good cousin Capulet, for you and I are past our dancing days. How long is’t now since last yourself and I were in a mask./By’r Lady, thirty years/What, man, ‘it s not so much, ‘it s not so much. ‘Tis since the nuptial of [Lucentio,] Come Pentecost as quickly as itShow MoreRelatedWilliam Shakespeare s Romeo And Juliet1287 Words   |  6 PagesLizzy Baginski English Composition 2 Mr. Spera March 10, 2015 Romeo and Juliet Research Paper The movie Romeo and Juliet is a modern classic film that took place in 1996. Overall this is a timeless story that everyone should go and watch. This movie has an intriguing plot line that tells the story of two feuding families, The Montagues and The Capulets, and how the children of these two different families fall in love. The two children overcome various obstacles such as hiding their chemistry fromRead MoreWilliam Shakespeare s Romeo And Juliet 966 Words   |  4 Pages Beauty Over Gold â€Å"Beauty provoketh thieves sooner than gold.--William Shakespeare, 1623. In his book As You Like It, William Shakespeare pointed out the supremacy of love rather than the want of gold and wealth. Truly, beauty is more important to thieves than wealth. Many of the thieves in this world would rather have an elegant woman than to obtain precious rubies. After all, what good is a prosperous man if he doesn’t have a charming woman? Two famous men grab my attention who didn’t fear forRead MoreWilliam Shakespeare s Romeo And Juliet Essay1024 Words   |  5 PagesRomeo and Juliet is a tragedy written by William Shakespeare early in his career about two young star-crossed lovers whose deaths ultimately reconcile their feuding families. It was among Shakespeare s most popular plays during his lifetime and, along with Hamlet, is one of his most frequently performed plays. Today, the title characters are regarded as archetypal young lovers. Romeo and Juliet belongs to a tradition of tragic romances stretching back to antiquity. The plot is based on an ItalianRead MoreWilliam Shakespeare s Romeo And Juliet1124 Words   |  5 PagesThe play Romeo and Juliet is a tragedy written by William Shakespeare early in his career about two young star-crossed lovers whose deaths ultimately reconcile their feuding families. It was among Shakespeare s most popular plays during his lifetime and, along with Hamlet, is one of his most frequently performed plays. Today, the title characters are regarded as archetypal young lovers. Romeo and Juliet belongs to a tradition of tragic romances stretching back to antiquity. Its plot is based onRead MoreWilliam Shakespeare s Romeo And Juliet861 Words   |  4 Pagesgreatly shown in the play Romeo and Juliet by William Shakespeare. It was love at first sight with Romeo Montague and Juliet Capulet. Meeting at a party and falling in love to get married without even spending quality time with each other. Romeo and Juliet couldn t tell there parents because the Capulets and Montagues are long term rivals. Both Romeo and Juliet had to find different ways and excuses to make this marriage work. A big problem was developed. Romeo kills Juliet s cousin and is banishedRead MoreWilliam Shakespeare s Romeo And Juliet1770 Words   |  8 Pagesof Romeo and Juliet. The story of two destined lovers who were killed by their own doing. But what if they weren t two destined lovers who got unlucky, but doomed partners that were never going to have a good-life to begin with.William Sha kespeare gives us a view of early signs of gang conflict in the early age of Verona, Italy. He gives us a perspective of the norms and customs of Italy during the Setting of William Shakespeare s most famous story. Romeo and Juliet, by William Shakespeare, givesRead MoreWilliam Shakespeare s Romeo And Juliet1616 Words   |  7 Pageslove can also cause some of life s most controversial battles. These battles could stem from lack of patience, disagreement of moral values, and in some cases, an absence of attraction overall. In Romeo and Juliet by William Shakespeare, the issues that drive Romeo Montague and Juliet Capulet s to each of their dreadful misfortunes are inevitable. When it comes to many of Shakespeare s plays, Aristotle s theory is used to describe them as tragedies. Romeo and Juliet is known by many as a tragedyRead MoreWilliam Shakespeare s Romeo And Juliet1264 Words   |  6 Pagestheater-going public the most important dramatist in English literature, Shakespeare oc cupies a well-known position in the world of talented authors. His canon contains thirty-seven plays, written in the late sixteenth and early seventeenth centuries. Additionally, throughout the years, they continue to sustain critical attention, with the majority of his works circling tragedies, one being Romeo and Juliet. William Shakespeare s Romeo and Juliet speaks to the timeless appeal of star-crossed lovers. Their loveRead MoreWilliam Shakespeare s Romeo And Juliet924 Words   |  4 PagesWilliam Shakespeare’s Romeo and Juliet is a tragedy that follows the so-called love of two teenagers. The two fall in love at a masked ball and have a secret marriage. Throughout the play, their actions show how ridiculous love is, and how it is a danger to anyone who become twisted in its choking grasp. However, in the death of the youth and survival of the elders, an alternative explanation for the tragic events may be found. Although Shakespeare seems to be mocking love throughout the play, itRead MoreWilliam Shakespeare s Romeo And Juliet1279 Words   |  6 Pagesour lives. The great, classic writers teach timeless, valuable life skills. Shakespeare was the greatest writer of all time. His writings mainly consisted of dramas and sonnets. Romeo and Juliet, as well as, A MIdsummer Night’s Dream were written about the same time period. He was able to inter relate everything that wrote. For example, the tale of Pyramus and Thisbe could possibly be an advertisement for Romeo and Juliet. The basic structure of the two dramas is the same; two forbidden lovers meet

President Buddha Free Essays

Buddhism states that Amitabha did not in fact create the world; this is because the world is so impure and detestable and Amitabha is far superior and perfect to ever have created the world. In a government run by this Buddhist belief it would be a continuous effort being made to reiterate the fact that the world is evil and a lot would be done in order to try and purify this state of being. Thus, a lot would change in a government run with the Buddhist belief: From healthcare to employment, the changes of such a society would be immense and drastic. We will write a custom essay sample on President Buddha or any similar topic only for you Order Now The main belief of Buddhist is a state of Nirvana, and it is with this state that the rules governing the country would be based. This paper will explore the hypothesis of a Buddhist government, the changes it would make, and how it would affect the lives of the citizenry from their jobs to what is held sacred in this world. Buddhism is based on the teaching of Siddhartha, who is known universally as Buddha (Delahunt, 2006). In the Buddhist belief, suffering is a part of life, not an emotion or state of being outside of the natural world. In the ancient Buddhist teachings, suffering can be superceded or be traversed by the Buddhist student who acquires mental and moral self-purification (Delahunt). Thus, a government based on Buddhist beliefs would have campaign slogans and propaganda commercials illustrating the belief that although one is suffering now with gas prices, war, poor health care and lack of job security, can all be overcome with meditation and proper spiritual guidance. Therefore in a Buddhist government part of the health care system would offer spiritual therapy in order to come to this spiritual enlightenment. Since the philosophy of Buddhism requires an abandonment of material possessions, the earthly life is transitory. Therefore, the market industry under a Buddhist run government would have a failing import export scenario but on the other hand the country would be self-sufficient and harvest their own necessary food supplies which would definitely bring job security to farmers. A major issue that would arise from this would be corporate run farms and the individual farmer; it would seem that individual farmers would be the main occupation of the worker under this government. Buddhism does not render revelation to be intrinsically involved in their religion because God knows all and this knowledge is passed on to them, , â€Å"In the Buddhist scriptures, there is something remarkably indistinct and evanescent; there is the spirit of the disintegration, of the dispersal of individuality. The I does not act resolutely. † (Otto 97). In Buddhism, sickness would heal itself through death and when Nirvana was reached, such earthly trivialities would be of no concern. Corpulent emotions and feelings would be annihilated in Nirvana while in heaven an over flooding of love and forgiveness would be the reality. In this line of thinking health insurance would have a drastically low rate of sales since death was conceptualized as an extension of life, and the profit margin on this would have no lasting effect on a Buddhist government since material possessions such as money or items money can buy would become un-important the general psyche and welfare of the people. Bibliography Delahunt, Michael. Buddhist Art. 2006. http://www. artlex. com/ArtLex/b/Buddhism. html Otto, Rudolf. Buddhism and Christianity Compared and Contrasted. Ed. Trans. Philip C. Almond. University of Hawaii. 1984. Ser-Odjav, Namsrain. (March, 1986). Treasures of Mongolia. UNESCO Courier. http://www. findarticles. com/p/articles/mi_m1310/is_1986_March/ai_4153135 How to cite President Buddha, Papers

Proposed changes to the lease accounting - MyAssignmenthelp.com

Questions: 1. From your firms annual report find out the asset/s that your firm has tested for impairment. 2. How did your firm conduct the impairment testing? 3.Has your firm recorded any impairment expenditures during the period? 4.Identify the key estimates and assumptions used by your firm in conducting the impairment testing. 5. Do you find any sort of subjectivity involved in the impairment testing process? How can this subjectivity influence the outcome of the impairment testing? 6. What do you find interesting, confusing, surprising or difficult to understand about the impairment testing? 7.What new insights, if any, have you gained about how companies conduct impairment testing? 8. Based on your assignment, comment on the fair value measurement. Answers: Answers 1 The company Pacific Star Network Limited has been allocated. The company is based in the Melbourne and is a listed company listed in the Australian Stock Exchange. For deep understanding and the analysis of the impairment testing the annual report for the financial year ending thirty of June two thousand seventeen has been selected. The annual report contains the directors responsibility statement, financial statements containing the balance sheet, profit and loss account and the notes to the financial statements and the independent auditors report. For the purpose of the analysis, the main focus will be on the consolidated profit and loss account and the notes to the account forming part of the financial statements of the company for the year under consideration. As per thirteen note number and the three note number, the company has tested the following assets for the purpose of the impairment. These are: Goodwill of the company. As the goodwill of the company is not amortized but impaired in accordance with the relevant accounting standard. Intangibles assets of the company the major intangible assets in the consideration are the masthead. The other intangibles are radio licenses, patents and trademarks, website of the company, inside football masthead, goodwill obtained on the acquisition or the business combination and customer relationships. Financial assets and the financial instruments of the company. These include the loans and advances which are recoverable in cash or in kind during the normal course of the business and include the receivable on account of the sundry debtors which has been classified under the head of trade and other receivables. Property plant and equipment of the company as specified separately in note number ten of the financial statements of the company. It includes studio facilities, computer equipment, motor vehicles, office equipment, plant and equipment and improvements. Lastly the investment made by the company during the year under consideration or and that too by using the equity method of accounting of the investments as prescribed the accounting standard. Answers 2 The annual report of the company has not only provided as to how the impairment of assets have been tested but have also provided that how the company has tested for the impairment of the assets at all the levels. The details of the procedure are given below as mentioned in the annual report of the company: At first the impairment is defined as the excess of the carrying amount of the asset at the particular date over the recoverable amount of that particular asset. The carrying amount is equivalent to the amount as carried in the financial statements at the particular date. The recoverable amount is defined as the amount equivalent to the higher of the two figures. These are value in use and the net selling price. Value in use is equivalent to the amount that is obtained by discounting the cash flows of the company that has been estimated for the future years at the discounting rate and includes the discounted value of the terminal value of the asset at the end of its useful period. Net selling price is the amount equivalent to the receipts available after deducting all the expenses pertaining to the sale of that asset. Where the individual assets are identified as being not capable of producing or generating the cash flows on their independent basis then the assets are allocated according to the cash generating units through which the capability of generating the cash flows can be estimated easily (AASB, 2016). At first, for the impairment testing of the property plant and equipment, the company has adopted the value in use and has estimated the cash flows on the basis of the business projections as duly approved in the board meeting of the board of directors of the company. It has been identified that the carrying amount as stated is not in excess of the recoverable amount and thus impairment has not been charged. Secondly, the intangibles have been tested for the purpose of the impairment. As the intangibles are not capable of producing the income on its own therefore the company has identified the two main cash generating units. These are broadcasting cash generating units and other one is publishing cash generating units. Under the first cash generating units, the company has clubbed radio licenses and under the second cash generating unit the company has clubbed remaining intangibles including the publications, journals and slow and inside football. Thirdly, the trade receivables and the other receivables have been tested on the basis of the time period within which it will be received. The company has defined the ageing schedule of the debtors and accordingly has identified which receivables shall be treated as impaired. Impaired is not in equivalent terms with the term of bad debts. The major consideration is in respect of the two types of risks namely credit risk and the other one is liquidity risk. In this way, the company has prescribed the procedure for the impairment test and has tested accordingly. Answers 3 In parlance with the annual report of the company for the year under consideration, the company has reported the figures of the impairment of assets under the following heads: Goodwill of the company has been impaired by $7442 thousands in the financial year ending 2017 as compared to Nil in the previous financial year ending 2016. The goodwill impairment has been charged on the major acquisition of Morris Media made by the company in the previous financial year and impairment charged in the current financial year (Company Official Website, 2017). Masthead being an intangible of the company has been impaired by $797 thousands in the financial year ending 2017 as compared to Nil in the previous financial year ending 2016. The intangible is known by the name of Inside Football masthead. In the current financial year under consideration, $40 thousands have been charged for the impairment of the trade and other receivables as compared to $157 as charged in the previous financial year. In the case of the property plant and equipment the company has not charged for any impairment as the carrying amount is lesser than the recoverable amount (Company Official Website, 2017). Answers 4 The company has listed the following key assumptions and the estimates as required for the purpose of the testing of impairment. These have been listed as below: In the annual report of the company, under the note relating to the intangible assets of the company bearing number thirteen, the key assumptions that the company has adopted have been listed. These includes two broad and major headings Value in use for broad casting cash generating unit and other one is Value in use for publishing cash generating unit. Value in use for broad casting cash generating unit relating to the radio licenses the company has made the assumption that the net cash flows before the tax will continue for the future years at the annual growth rate of 2.3 percent and that too on year on year basis. The second assumption is regarding the discounting rate used for discounting the cash flows and accordingly weighted average cost of capital has been used which is 17 percent. Value in use for publishing cash generating unit relating to mastheads, brands and the customer relationships and also for the goodwill, two assumptions have been used. The net cash flows estimated from the magazine division will decrease by 10 percent on year on year basis and discount rate pre tax will be used and which will be 23 percent as equivalent to the weighted average cost of capital (Company Official Website, 2017). The cash flows as estimated for future depends upon the projections for the next two passed by the board of the company and for the next subsequent years the cash flows will be using the growth rates for estimating the cash flows and that too ranges from 2.3 percent positive to the figure of 10 percent negative. For the purpose of the impairment of the receivables, the four slabs have been made for bifurcation and according to the risk and the debtors ageing the impairment is charged. These slabs are less than six months, less than twelve months, between one to five year and lastly greater than five years (Company Official Website, 2017). Answers 5 In the given case, it is observed that there is the subjectivity involved in the testing of impairment of assets. The degree of the subjectivity cannot be ascertained in accurate manner but the degree has further been confirmed when the independent auditor of the company has commented on the value in use as determined by the company for their cash generating units as the key audit matter which is required to be disclosed so as to educate the investors of the company and their stakeholders. Secondly, the company has not made any impairment of the property plant and equipment and has also not given the detailed calculations of the same. These will greatly affect the decision of the investors and the stakeholders of the company. Answers 6 The impairment testing of the intangibles that the company has adopted is very interesting for me. It is because the cash generating unit so selected by the company is in direct consonance with the intangibles assets so concerned like broadcasting deals with radio licenses and publishing with journals. Secondly the assumptions that the company has made for determining the value in use is real and sounds logical and interesting as two different discounting rates have been used for different cash generating units. Its surprising in the sense that whole of the goodwill of the company amounting to $7442 thousands have been impaired during the year and the same has been acquired in the previous financial year. Answers 7 The new insight that has been gained about the impairment testing is that the company can impair whole of its goodwill of the company in the particular year depending upon the facts and the circumstances of the case. Secondly the company can use two discounting rates for the calculation of the value in use of the assets for each of the cash generating units. Answers 8 At first the company has mentioned in the annual report of the company that the Australian accounting standard number nine on the financial instruments will be applicable on or after first of January two thousand and eighteen and accordingly the fair value determination in accordance with the standard will be dealt in the next financial year. Secondly, the company has mentioned that the revenues have been recognized at the fair value of the consideration that has been received or will be receivable. Authenticity of lease agreement in terms of financial transactions lacks the economic reality. This fact can be substantiating with the accounting treatment prescribed in the earlier accounting rules on leases by IASB. The major fact of hiding the reality is the treatment of operating lease payments and debts in the financial statements of the company as they are recorded as not measurable in financial terms liability in the financial accounts as contingent liability (Ely, 2015). Recording of debt in this manner creates the misleading picture of the companys financial in the eyes of the stakeholders by having high net worth of the company. Another fact which supports that the economic reality is lacking in former accounting standard on leases is treatment of leaseback arrangements. In this type of lease agreement although ownership and rewards never transferred to the lessee but the lessee have the advantage to use the lease asset for its major life which in turns to have the financi al benefit without having legal benefits on the lease assets. Thus, the piece of information used by chairperson in his commentary about lacking of economic reality seems true (Day and Stuart, 2013). Lease agreements are very famous amount different business and find their place at highest levels in airlines and retail sectors. Lease agreements are of mainly two types. One is operating lease and another is financial lease. The earlier accounting standard issued by IASB or IFRS organizations suggests that the operating lease were not recorded in the balance sheet or books of accounts. They were presented in books of accounts as information under Note to accounts in the form of conditional liability which will depend on future event. This situation attracts the business to have more operating lease agreements which will around 85% of the total leases agreement at one point of time (Singh, 2011). Although operating leases are recorded as off the balance sheet debts but they will become actual liabilities for companies in future. This fact creates the situation of bankruptcy for some major airlines and retail companies as their operating leases commitments will become higher and the balance sheet of the company looks positive without these liabilities. And at the time leading to bankruptcy the off the balance sheet commitments of these company will 66 times higher than the actual reported commitment in the balance sheet (Ma, 2011). One of the major deficiency in the former accounting standard on leases creates be short of comparability among the companies operating in same sector like airline sector or retail sector where lease contracts are majorly taken place (Singer, 2017). The accounting treatment of lessor and lessee in case lease airline fleet is very different under earlier standard despite of the fact that their actual financial commitments are same. Thus, it carets the situation of no playing fields available for some airlines while having decisions on the basis of inter comparison financial results (Gross, 2014). The changes and new accounting standard on leases will lacks the attractiveness to different business or sectors that are into lease contracts. More than 50% of the listed companies in Australia are having huge no of the lease contracts will be affected and will not able to take advantages with ambiguity in former law on lease. An accounting treatment change are generally contentious in nature and lacks the reality at economic and financial levels which affects debt reporting in the company having lease agreements (Lim, 2014). Also the cost of implementing the changes into the system will discourage the different people or companies not to follow the new changes in accounting of lease contracts (Knubley, 2010; Moore and Nagy, 2013). The lease agreement after implementation of new changes helps different stakeholders in like investors and management in the sense that lease contracts will helps them to have economic reality along financial reality and the true asset value can be determine for having correct decision about the contract of lease (FASB, 2016). Reference AASB, (2016), Impairment of Assets available at https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPjun09_01-10.pdf accessed on {23-01-2018}. AASB, (2016), Financial Instruments: Recognition and Measurement available at https://www.aasb.gov.au/admin/file/content105/c9/AASB139_07-04_COMPoct10_01-11.pdf accessed on {23-01-2018}. Company Official Website, (2017), Annual Report 2016, available on https://www.pacificstarnetwork.com.au/accessed on {23/01/2018}. Day, R. and Stuart, R., (2013), New lease accounting proposal: what it means and what companies can do to prepare.Financial Executive,29(6), pp.11-13. FASB, (2016), New Guidance on Lease Accounting available at https://www.fasb.org/jsp/FASB/FASBContent_C/NewsPagecid=1176167901466 accessed on {23/01/2018}. Ely, K.M., (2015), Operating lease accounting and the market's assessment of equity risk.Journal of Accounting Research, pp.397-415 Gross, A.D, (2014). 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A restaurant case study of lease accounting impacts of proposed changes in lease accounting rules.International Journal of Contemporary Hospitality Management,23(6), pp.820-839.