U.s. Indifference And The Holocaust - 1684 Words

U.S. Indifference to the Holocaust On November 25, 1942, approximately three years after Hitler started World War II The New York Times ran their first report that the Nazis had created a policy to eradicate the Jews of Europe. This story, confirmed by the State Department, did not run on the front page. It appeared on page 10 (Ostrow). President Franklin Roosevelt could have made this a major issue, but he said and did nothing. Other popular magazines such as Time, Life, and Newsweek reported virtually nothing on this topic (Ostrow). The people of the United States preferred not to know. If the United States had not practiced an isolationist foreign policy rooted in anti-Semitism, the Holocaust death toll could have been reduced because the killing would have been limited. The reasons behind this compulsion are complex and disturbing. However, the facts are clear. In Robert Schulzinger’s book U.S. Diplomacy Since 1900, he explores how World War I created an environment of isolationism where the U.S. felt justified in remaining silent against Hitler’s tyranny. David Wyman goes a step further and explains that it wasn’t only the effects of World War I that were behind these policies, but anti-Semitism that drove America’s choice to remain silent. This choice to remain silent manifested itself in the immigration laws that were passed during the World War II era that capped immigration from areas under Hitler’s rule. Following World War I, the United States entered a periodShow MoreRelatedU.s. Indifference And The Holocaust1684 Words   |  7 PagesU.S. Indifference to the Holocaust On November 25, 1942, approximately three years after Hitler started World War II The New York Times ran their first report that the Nazis had created a policy to eradicate the Jews of Europe. This story, confirmed by the State Department, did not run on the front page. It appeared on page 10 (Ostrow). President Franklin Roosevelt could have made this a major issue, but he said and did nothing. Other popular magazines such as Time, Life, and Newsweek reportedRead MoreCritical Speech In The Perils Of Indifference By Elie Wiesel755 Words   |  4 PagesCritical speech â€Å"The Perils of Indifference,† sheds lights on to world we live in today has evolved into a society of indifference That stripes us form are sense of human characteristics to help others in need of assistance. He supports his claim by illustrating the affect the U.S indifferences had towards the jews led to the death of countless amount of jews perishing during the holocaust seen in paragraph 2 and 18. In ad dition; In paragraph 8 of â€Å"The Perils of Indifference,† it states that people whoRead MoreThe Perils Of Indifference By Elie Wiesel963 Words   |  4 PagesMillennium Evening at the White House and the 54th year after Franklin Roosevelt’s death. Years after personally experiencing the horrors of the Holocaust and World War II, Elie Wiesel shared his story with America among the President and First-lady, Hillary Clinton, to inspire the world to act upon social and political injustices. In his speech â€Å"The Perils of Indifference†, Wiesel opened up about his past and how it made him realize how important it is to stand up against crimes against humanity. He alsoRead MoreThe Tragedy Of The Holocaust1540 Words   |  7 Pagesdifferent forms; from simple shootings to ethnic genocides. Although theses acts of hatred sound widespread and diverse in the cause; it is the indifference and ruthlessness that an individual portrays. This sort of behavior accommodat es society and encourages people to accept and follow its routine and principles, such as the events that took place during the Holocaust. During the time period of 1933 to 1945, Adolf Hitler, an Austrian World War I veteran, decided to partake in twisted behavior. HitlerRead MoreThe Nazi Observatory 1093 Words   |  5 Pagesmistreatment so they let it unconfirmed (â€Å"Holocaust†). When the U.S. government got confirmed information of the concentration camps, gad chambers, death rows, and hash treatments the government kept it classified. When the British Prim Minister Winston Churchill decided to make a stand by having the death camp at Auschwitz to be bombed he was ignored. If he wasn’t ignored and the railroads leading to the camp were bombed it would have saved thousands of lives (â€Å"Holocaust†). Under pressure, President RooseveltRead MoreThe Fire Next Time By James Baldwin906 Words   |  4 PagesBaldwin’s The Fire Next Time greatly relates to the U.S even to this day. Baldwin shows a different side of racism that one might have never thought—while keeping a sense of hope for the future intact. In the first essay dedicated to his nephew, Baldwin says, â€Å"[†¦] and we can make America what America must become,† and it mustn’t become anything without trying (Baldwin 10). Throughout the entire book, Baldwin makes reoccurring references to the Holocaust, comparing it to the racism in America. This connectionRead MoreThe Holocaust : The World War II890 Words   |  4 Pagesmomentous occasion. However, once the title of citizen is acquired there are certain responsibilities that must be fulfilled. Tim Holden said The Holocaust illustrates the consequences of prejudice, racism and stereotyping on a society. It forces us to examine the responsibilities of citizenship and confront the powerful ramifications of indifference and inaction(Holden). Holden’s quote has a specific point that is incredibly important which is confronting the consequences of inaction. Anger andRead MoreThe Importance Of Speaking Up And Being Indifferent867 Words   |  4 Pagesabout the situation, and even gives you a very good perspective on where he is coming from. He recited a very well written speech about the U.S. history, he really sucks you in with his speaker credibi lity, and makes you feeling his passion and belief on being indifferent, and even has very well thought out supporting ideas. When I read ‘The Perils of Indifference’, Elie Wiesel really made me feel like I was there. He started off with a story that was very descriptive. He talked about how this youngRead MoreWhy was the world silent during the Holocaust?859 Words   |  4 Pagesï » ¿ Why was the world silent during the Holocaust? By: Mary Katherine Mayes and Sarah Grace Whitt Gadsden Middle School Hitler had an invincible ally without whom he could have never flourished. His ally was the world that chose to endure silence as Germany kept challenging the boundaries of the universal acceptance for its evil actions. The Holocaust didnt begin with crematoria. Hitler moved gradually, carefully intensifying his anti-Jewish guidelinesRead MoreNegative Effects Of The Holocaust1466 Words   |  6 Pagesdeath is preventable and one fails to prevent its occurrence, is he at fault? During and after the Holocaust, citizens of the United States pondered this question in the context of Jewish refugees murdered in Nazi Germany; ultimately, citizens remember this tragic genocide and promise it will not happen again under any circumstances, not only in America, but in other nations as well. Since the Holocaust, leaders and lawmakers in the United States have analyzed the causes that led to this event and designed

Australian Tax Manual Suggested Solutions â€Myassignmenthelp.Com

Question: Discuss About The Australian Tax Manual Suggested Solutions? Answer: Inttroducation Under the current rules, all right-of-use assets are classified same as other non-financial assets and are detailed in the Balance Sheet under Property, Plant and Equipment. The lease liabilities are also treated as other financial liabilities. This allows the lessee to charge depreciation of a right-of-use asset as a deductible expense along with the interest paid on the lease liability. Moreover, as stipulated under IAS 7, the lessee bifurcates the payment and shows it as Principal and Interest Payment in the annual statement of cash flows, assert Ault, Arnold Gest, (2010). Although the lessee should treat a lease asset as a right-to-use asset, the system has not been effective in checking this and lessee entities are measuring all lease assets and liabilities on the present value basis, similar to Property, Plant and Equipment. The measurement does not take into consideration the optional lease periods, nor does it explain the options of extending or terminating the lease. In nearly all such cases, the initial value of the lease asset equals the value of lease liability shown in Balance Sheet, as per Wilmot, (2012). New IFRS Operating Lease RulesTop of Form The new IFRS rules suggest a fundamental shift in recognizing lease assets and liabilities through implementation of IFRS 16, which state that a lessee, who has leasing assets, should show such assets and liabilities under a separate head in the Balance Sheet. Changes on the Companys Balance Sheet IFRS 16 will eliminate the current classification of operating leases or finance leases for the lessee. Instead, the lessee will treat all leases as Finance Leases after applying IAS 17. Leases shall be capitalised and shall be shown, either separately as Lease Assets or with Property, Plant and Equipment, details Hanks, (2007). IFRS 16 and Companys Income Statement The lessee shall no longer classify its leases either as operating or finance leases. IFRS 16, which replaces IAS 17 from 1 January 2019, will have the following two provisions: Existing Finance Leases: These shall continue to be listed as Finance Leases. Existing Operating Leases: These shall have the option to opt for a full or limited restatement as per the requirements of IFRS 16. Lessee using IFRS 16 will not be required to recognise those assets and liabilities which are (a) short-term leases of 12months or less and (b) leases of low-value assets, such as a personal computer. Effect on Marvin Co. Ltd. The case study of Marvin Co. Ltd. is for the year ended 31 December 2016. Since the transition from the current system to implementing IFRS 16 shall come into force from 1 January 2019, the management is not obliged to use the new guidelines for finalising this Balance Sheet. An analysis of the situation for the current Balance Sheet of Marvin Co. Ltd. has been provided in Appendix A at the end of this paper. IAS 37: Provisions Contingent Liabilities Currently used Standard IAS 37 has set the criteria for recognising and measuring: Provisions Provisionrefers to liabilities which are of uncertain timing or amount. Use ofuncertain hereis of importance because in cases where time and amount become certain, then the payment is not considered as a provision but is referred to either as payable or accrual. Contingent Liabilities Acontingent liabilityis either a possible obligationwhich arises from a past event and needs to be confirmed by a future event or is a present obligation, arising from a past event, but either: the outflow of certain economic benefits for satisfying this obligation isnot probableor the amount of the obligation cannot be reliably measured, says Marsden, (2010). Overview With the introduction of IFRS 15 Revenue from Contracts with Customers, most of the Retail and Consumer Product entities may have to change certain aspects of their accounting principles for revenue, as described by Nethercott, Devos Richardson, (2010). This new revenue recognition standard, which is being implemented jointly by the International Accounting Standards Board (the IASB) and the Financial Accounting Standards Board (the FASB) is proposing to supersede all previous revenue recognition guidelines under IFRS. The standard, which shall come into effect for the annual reporting periods starting on or after 1 January 2017 is also allowing an early adoption. IFRS 15 shall be dealing with all revenue which arises from contracts with customers and shall affect all those entities which enter into contracts for providing goods or services to their customers, says Renton, (2012) IFRS 15 shall be used for all transactions which are common in the retail and consumer products sector, including those controlled by licences and franchise arrangements and which deal with sale of goods which come with right-to-return. Options granted to customers include Material Returns or Consideration Payment and these are some of the areas which may be covered under the new rule. It is in the interest of the entities dealing in consumer goods, which have substantial amounts tied to Warranties should start their preliminary assessment of the affects as early as possible, so that the management and the accounts teams can prepare towards implementation of IFRS 15,explain Deutsch et al, (2011). Effect on Marvin Co. Ltd. Although the impact, both financial and administrative, will vary from entity to entity, it is in the best interest of Marvin to start an evaluation of the requirements needed for implementing IFRS 15. Although the case study of Marvin Co. Ltd. is for the year ended 31 December 2016 and IFRS 15 is to come into force from 1 January 2017, the boards are allowing an early implementation. An analysis of the situation for the current Balance Sheet of Marvin Co. Ltd. has been provided in Appendix A at the end of this paper. Revaluation of Fixed Assets Arevaluationof the fixedassetsis such an action which needs to be carried out accurately, so as to give in detail the true value of the capital assets owned by a business. This needs to be distinguished from the planned depreciation process in which the recorded decline in the value of anassetis calculated on the basis of its age, according to Smith Koken, (2011). Revaluation Reserve on the Balance Sheet Revaluation reserves are actuallyRevaluation Surplus Reserves and these arise when value of a capital asset becomes greater than that value at which it was brought forward from the previousbalance sheet and it increases the shareholder funds. This gain, derived from therevaluationis known as Revaluation Surplus Reserve. In case therevaluedasset is no longer in use in the business, the remainingrevaluation surplusis eventually credited to the Retained Earnings Account in the Balance sheet of the entity. Revaluation Surplus as Income In case the revaluation of the asset produces a decrease in the carried forward amount of the capital asset, then the decrease is reflected through the profit or loss of the entity. However, in case of a credit balance of the revaluation surplus, decrease the comprehensive income in order to offset the credit balance, explain Reimer, Urban Schmid (ed.), (2011). Fair Value of Assets The InternationalAccountingStandards Board (IASB) definesfair value of an assetas "an amount at which an asset could be exchanged between knowledgeable and willing parties in an arms-length transaction". IAS 16:Property, Plant and Equipmentis used for outlining accounting treatment to be given to a variety of property, plant and equipment which are most commonly used in a business. The in-use Property, Plant and Equipment is determined initially at its cost value and is subsequently determined by using either the cost or the revaluation model. This is then depreciated in such a manner that the amount of depreciation is allocated on an equal and systematic basis over the total useful life of the asset. IAS 16 was re-issued with effect from December 2003 and has since been in use for the annual periods beginning on or after 1 January 2005, as detailed by Reimer, Urban Schmid (ed.), (2011). The unit of measure, used for recognition of a capital asset has not been defined under IAS 16. Hence, what constitutes as an item under the head of Property, Plant and Equipment in a Balance Sheet is not defined in IAS 16.9, however, each part of an item of Property, Plant and Equipment, having a cost and which is significant in relation to the total cost of that item, needs to be depreciated separately, as explained under IAS 16.43. IAS 16 itself recognises that certain parts of an item, shown under the Property, Plant and Equipment, can be subjected to replacement at regular intervals. Thus, the carrying amount of the item shown under Property, Plant and Equipment, also includes the cost of replacing such a part of the item. The carrying amount of such parts, which have been replaced, is derecognised as per the de-recognition provisions given under IAS 16.67-72, says Wilmot, (2012). Effect on Marvin Co. Ltd. Although the impact, both financial and administrative, will vary from entity to entity, it is in the best interest of Marvin to start an evaluation of the requirements needed for implementing IFRS 16. An analysis of the situation for the current Balance Sheet of Marvin Co. Ltd. has been provided in Appendix A at the end of this paper. Compensation Payments Unsecured Creditors The first tier of unsecuredcreditorsare those who are entitled to receive money from the company, but their claims are notsecuredor guaranteed. This group of creditorsincludes: bank lenders,employees, the government (taxes), suppliers and investors who have unsecured bonds, asper Ault, Arnold Gest, (2010). In some cases, the authorities allow the best interest test under which the debtor is required topayall thecreditors in full. In this context, entities use Chapter 11for paying their debtors and fulfil the best interest test bypaying creditorswith only a fraction of the outstanding debt, explain Ault, Arnold Gest, (2010). Under this standard, entities are required to recognise an allowance of either a 12-month or a lifetime Expected Credit Losses (ECLs) and this depends on the condition if there is a significant increase in credit risk since the initial recognition. However, for assessing if there is a significant increase in the credit risk, new data and processes will be required. While adopting the ECLs, entities will require to make significant changes in their current system and process. The ECL impairment requirements are to be adopted from 1 January 2018, although early application is permitted, details Renton, (2012). Effect on Marvin Co. Ltd. Although the impact, both financial and administrative, will vary from entity to entity, it is in the best interest of Marvin to start an evaluation of the requirements needed for implementing IFRS 9. An analysis of the situation for the current Balance Sheet of Marvin Co. Ltd. has been provided in Appendix A at the end of this paper. References Ault, H. J., Arnold, B. J. and Gest, G. 2010. Comparative income taxation: a structural analysis. 3rd ed. Kluwer Law International, Amsterdam, The Netherlands. Deutsch, R., Friezer, M., Fullerton, I., Gibson, M., Hanley, P. and Snape, T. (2011) Australian tax handbook. Thomson Reuters, Pyrmont, NSW. Hanks, L. W. 2007. The busy family's guide to estate planning: 10 steps to peace of mind. Nolo, Berkeley, CA. Marsden, S. J. 2010. Australian Master Bookkeepers Guide, 3rd ed. CCH Australia Limited, Sydney, NSW. Nethercott, L., Devos, K. and Richardson, G. 2010. Australian taxation study manual: questions and suggested solutions, 20th ed. CCH Australia Limited, Sydney, NSW. Reimer, E., Urban, N. and Schmid, S. (ed.). 2011. Permanent Establishments. a Domestic Taxation, Bilateral Tax Treaty and OECD Perspective. Kluwer Law International, Amsterdam, The Netherlands. Renton, N. E. 2012. Family Trusts: A Plain English Guide for Australian Families of Average Means, 4th ed. John Wiley Sons, Milton, QLD. Smith, B. and Koken, E. 2011.The Superannuation Handbook. John Wiley Sons, Milton, QLD. Wilmot, C. 2012. FBT Compliance Guide 2012. CCH Australia Limited, Sydney, NSW.