Aviation Company Karl Rapp - 1382 Words

Initially starting as an aviation company set up by Karl Rapp which was established in 1913 was the basis at which BMW began their long and illustrious tenor at the top of the luxury brand Automotive industry. Although struggling initially due to poor engine designs which suffered from severe vibration problems the company knows as Rapp Motorenwerke barely remained in business solely due to the Austro-Daimler being unable to keep up with the high demand of the V12 aircraft engines required by the Austrian military. It was this inability to meet their demands that resulted in the decision for the engines to be produced at Rapp Motorenwerke allowing them to remain in business. Franz Josef Popp who was the lead supervising engineering at Austro-Daimler was sent to Munich to supervise the engine quality. Popp went on to become actively involved in the running of the company and was behind the hiring of Max Friz who was a young and talented aircraft engineer. It would be the hiring of Fri z that would change the course of the company. Within a few weeks of his hiring Max Friz had designed a new aero-engine far superior to any other German aero engine currently being produced. Following the departure of Rapp the company took on a large restructuring and BMW was first established as a business entity in 1917. Large orders were being received for the BMW IIIa engine designed by7 Max Friz and a high level of financial assistance were provided by officials in relevant ministries under

Developing Critical Thinking Essay - 1135 Words

A person is not born as a good critical thinker. The first thing that is needed is a level of maturity having the ability to conceptualize and understand the world (Boss, 2010). The skills that are associated with a person that has good critical thinking are: Analytical Skills: recognize and evaluate arguments to filter through to the truth. Effective Communication: ability to listen, speak, and write effectively. Research Skills: ability to gather, evaluate, and create supporting evidence. (Boss, 2010) In teaching critical thinking, Dr. Chan and Dr. Lau (n.d.) explain good critical thinking, â€Å"as the foundation of science and a liberal democratic society. Science requires the critical use of reason in experimentation and theory†¦show more content†¦A person will be prejudiced to certain opinions without exploring all sides of an issue. People create barriers that stop the gathering of information and analyzing that are key to being a critical thinker. A few of the resistances that foster narrow-mindedness are denial, the refusal to believe something despite overwhelming evidence, avoidance, not seeking out opposing views but staying with only those that agree with your position on an issue, and ignorance, not seeking out information that is available(Boss, 2010). The two resistances that I have used are avoidance and conformity. These two go hand in hand with me that I will often seek out those that agree with my thoughts and avoid those that do not see things the way I do. At times, I will be with those that I do not agree with and those times instead of having a conversation, I will go with conformity to fit in at those times. Adjusting my thinking to overcome these will first require me to seek out and listen to both sides of the issues. Having the knowledge that is not based on biased opinions will help make a foundation that will increase my confidence in what I think and allow me to speak intelligently on the issue. 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Nature Of The Transaction Accounting Essay Free Essays

No, for the intents of this Standard, a dealing with an employee or other party in his/her capacity as a holder of equity instrument of the entity is non a share-based payment dealing. For illustration, if an entity grants all holders of a peculiar category of its equity instruments the right to get farther equity instrument of the entity at a monetary value that is less than the just value of those equity instruments, and an employee receives such a right because he/she is a holder of equity instrument of that peculiar category, the granting or exercising of that right is non capable affair to the necessities of this Standard ( AASB 2, Page 14, Para 12 ) . Besides portion based payments are those payments which are given on the footing of company ‘s equity or portions, nevertheless it does non merely relates to employers but besides to other stakeholders such as providers when they are counted as the receiver of the cost of goods and services. We will write a custom essay sample on Nature Of The Transaction Accounting Essay or any similar topic only for you Order Now Answer 2-B Harmonizing to AASB2 ( p.11, para 4 ) â€Å" A share-based payment dealing may be settled by another group entity ( or a stockholder of any group entity ) on behalf of the entity receiving or geting the goods or services † . It alsoapplies to an entity that: ( a ) receives goods or services when another entity in the same group ( or a stockholder of any group entity ) has the duty to settlethe share-based payment dealing ; or ( B ) has an demand to settle a share-based payment dealing when another entity in the same group receives the goods or services, unless the dealing is doubtless for a ground other than recompense for goods or services supplied to the entity being paid them. Answer 2 C Harmonizing to AASB2 ( 119 ) employee fillips may be counted as a portion based payments. However it may be portion based or employee benefited. Share options or other equity instruments are granted to employees as portion of their wage bundle, in add-on to hard currency wage and other employment benefits. Normally, it is non possible to mensurate straight the services received for peculiar constituents of the employee ‘s wage bundle. It might besides non be possible to mensurate the just value of the entire wage bundle independently, without mensurating straight the just value of the equity instruments granted. Furthermore, portions or portion options are sometimes granted as portion of a fillip agreement, instead than as a portion of basic wage, for illustration, as an inducement to the employees to stay in the entity ‘s employ or to honor them for their attempts inimproving the entity ‘s public presentation. By allowing portions or portion options, in add-on to other wage, the entity is paying extra wage to obtain extra benefits. It is really hard to gauge the just value of those benefits. Because of the trouble of mensurating straight the just value of the servicesreceived, the entity shall mensurate the just value of the employee services established by mention to the just value of the equity instrument arranged ( AASB2, P.14, Para 12 ) . Share based payments chiefly includes all executive option instead than merely employee benefits or employee fillips. Answer 2D- AASB2, P.13, Recognition 7 explains that â€Å" An entity shall recognize the goods or services established or get in a share-based payment dealing when it obtain the goods or the services are received † . The entity shall recognize a attendant addition in equity if the goods or services were established in an equity-settled share-based payment dealing or a answerability if the goods or services were get in a cash-settled share-based payment dealing. Answer 3- A corporate company when placing the portion based payments or portion options chiefly focus on complexness or the contentions which are at that place in acknowledging the disbursals portion options which involves issue of portion, portion options or other equity which can impact both employees and supplies ( other stakeholder in the company ) For- Typically, an disbursal arises from the ingestion of goods or services. For illustration, services are typically consumed instantly, in which instance an disbursal is recognised as the counterparty renders service. Goods might be consumed over a period of clip or, in the instance of stock lists, sold at a ulterior day of the month, in which instance an disbursal is recognised when the goods are consumed or sold. Against- However, sometimes it is necessary to recognize an disbursal before the goods or services are consumed or sold, because they do non measure up for acknowledgment as assets. For illustration, an entity might get goods as portion of the research stage of a undertaking to develop a new merchandise. Although those goods have non been consumed, they might non measure up for acknowledgment as assets under the applicable Standard. ( AASB, P.13, Recognition 9 ) . Most companies argue against a portion option disbursal acknowledgment and argument on whether the dealing is between the stockholders and the employers or it is between the entity and employees. Question arises whether employees really provide them services for the portion options that are given by the company or non. It may good be argued that the acknowledgment of the disbursals is inconsistent. Answer 4- The attack AASB usage for the rating of portion options is Fair Value attack. ( Deegan 2012, p.16, p.17, p.21 ) Nature of the dealing Sum at which the disbursal ( or plus ) and equity history are recognized Minutess where the just value of the goods or services can be measured faithfully At the just value of the goods or services received Minutess with employees ( where there is a kept up premise that the just value of the services can non be measured faithfully ) At the just value of the equity instruments being granted In those ‘rare state of affairss ‘ where the just value of goods and services provided by non-employees can non be measured faithfully At the just value of the equity instruments being granted Part B 01/01 2012 Dr Salaries Expense ( 100000 * $ 0.90 ) $ 90000 Cr Share Options $ 90000 two 30/06/2012 Dr Employee benefits disbursals $ 15000 Cr Share Capital $ 15000 three 01/01/2015 Dr Share Options ( 100000 * $ 3.50 ) $ 350000 Cr Share Capital $ 350000 ( B ) 31st March 2012 Dr Goodwill/ Patents $ 40000 Cr Share Capital $ 40000 Justifying the above entry- Harmonizing to AASB ( explained in Para 12 ) â€Å" Transactions where the just value of the goods and services can be measured faithfully is the sum at the just value of the goods and services received, whereas minutess with the employees and where there is a kept up premise that the just value of the services can non be measured faithfully is the just value of the equity instruments being granted † . 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