Time by Allen Curnow - Free Essay Example

Sample details Pages: 2 Words: 563 Downloads: 10 Date added: 2017/09/18 Category Literature Essay Type Argumentative essay Tags: Poem Essay Did you like this example? TIME Allen Curnow Allen Curnow is New Zealands most important poet. He believed in living literature. He once said, You cant write literature, you  cant paint art. First published in 1977, ‘Time’ reflects nature and life in New Zealand. Some of his poetry tried to explore ‘the private and unanswerable. ’ This is one such poem.. Here Time speaks for itself. Thus the poem is times autobiography. The first four stanzas contain random images of time, and time is everywhere. In the first stanza, time is  in the northwest monsoon blowing through the pine forests. It is dynamic like the racing water, and static like the unused rails on which trains do not run. It is also static like the mileage written on boards that have yellowed with time. Thus time keeps others moving towards their destinations, although  static itself in the form of a mileage board. In the second stanza, Time is the dust which fills the atmosphere. It is like lupins that grow a long the beach to stop erosion. It is the sums taught by a sole teacher of a rural school, where there is only one class and one teacher, and perhaps one time. It is like the cows about to yield milk and the song of the magpie. The third stanza marks the beginning of work in a clean office  and its hustle and bustle. The smell emanating from the machines at work, indicate time in full swing. Time is compared to a place in the park where lovers meet. In the fourth stanza, time is the timeless music enjoyed by children over the years, or perhaps a familiar refrain that bring back memories of a bygone time. It is the echo of familiar noises in the ear. Even the sawmill represents  time’s activity, and the time conscious driver applies the second gear in a bid to hurry. In the fifth stanza, Curnow compares the first four stanzas to mist. The phrase ‘my mountainous’ is a metaphor and ‘like a mist’ is a simile. All the images in the first four st anzas are like a huge fabric of mist that wraps a mountain, which cannot be contained but melt away like the mist. It cannot be measured or contained. In the 6th stanza, Time lives in our memory, packing into its tiny spaces events of bygone years. It is sharper than our very being. In the final stanza, Curnow presents all aspects of New Zealand life, island, sea, father, farm and friend. All these things work to time. The final line, ‘I am, you have heard it, the Beginning and the End’ seems to encompass an almost Godlike status of Time. It is a bibilical reference to the ‘Alpha and the Omega’ in the Book of Revelations. Although the poem is in the first person, the poet goes back into the past when he speaks of ‘recurrent music’ and ‘willing memory’. I also think he is referring to the future when he says ‘ and the end’ in the final line of the poem. Time is presented as omnipresent. The stanzas which are prese nted in rhyming triplets, are unusual and rich in alliterations. Time is a force, it is all  pervasive and continuous.. In conclusion, we are left to imagine that time can represent whatever each individual desires it to represent. Perhaps Curnow is trying to explore ‘the private and unanswerable’. Don’t waste time! Our writers will create an original "Time by Allen Curnow" essay for you Create order

The Necklace Short Story - 889 Words

How one reacts to the truth tells a lot about the person. Do they fight the truth? Do they hide from it? Or do they accept the truth and do the best they can with their situation? The quote â€Å"We dont get to choose what is true. We only get to choose what we do about it.† from Kami Garcia states that when presented with a challenge or an inconvenient truth, one cannot change the circumstances given, but they do have a choice in how they react to the truth. In addition, no one way of handling truth is right or wrong and everyone will react differently to a situation. Nevertheless, there are better and worse ways of handling it. A example of someone poorly handing the truth can be found within the short story â€Å"The Necklace† by Guy de†¦show more content†¦Though denial is a common way of dealing with the truth, more often than not, people tend to deal with a negative truth by grieving it. This can be found within Luigi Pirandello’s short story †Å"War†. Throughout â€Å"War† many characters were shown dealing with grief in many different ways. Each character was grieving due to the fact their children were being sent away to fight in the front lines of war. From denial, sadness, to acceptance it was all shown, each character handling the sadness of their children being sent away differently. However, one character stands out from the rest, the fat, red faced man who tells the other characters â€Å"Everyone should stop crying; everyone should laugh, as I do...or at least thank God—as I do—because my son, before dying, sent me a message saying that he was dying satisfied at having ended his life in the best way he could have wished.† This man does something unproductive; he tells the other passengers how to deal with their grief and as stated before there is no one correct way of dealing with grief and no two people will handle it the same. Although grief is not the most productive way of h anding the truth, given the character’s situation within â€Å"War†, grief lets them come to terms with the truth and accept it eventually. While accepting the truth can be often be helpful, occasionally fighting the truth and challenging what stands in one’s way can oftenShow MoreRelatedThe Necklace Short Story1468 Words   |  6 Pagesâ€Å"The necklace† was written in French and published in a French newspaper in 1884. Maupassant wrote the short story about a young married women, who is a fantasist, certain that she should be living a complete different lifestyle. Regardless of the period it was written, portrays Matilde as being a jealous egotist who lives her life through self-delusion and self-pity which are all timeless and universal themes. The presentation of women is very particular, if you weren’t a rich women you wouldn’tRead MoreThe Necklace Short Story897 Words   |  4 Pagesâ€Å"The Necklace† by Guy de Maupassant re sonates the theme of humility and serves the meaning of being happy with who you are, and to be grateful for the things you have in your life. Throughout the short story, we are shown how unhappy the main protagonist Mathilde is constantly in her daily life. Even though she has everything that allows her to be comfortable, such as having a house servant and a husband who supports her, she is dissatisfied with her status and wealth. Mathilde is unappreciativeRead MoreThe Necklace Short Story1142 Words   |  5 PagesLiving in a dream The short story The Necklace was written by a French writer named Guy de Maupassant. This story takes place in the late 1880s in France. In this time, there wasn’t any such thing as middle class, only the rich and the poor. The women married young and mated with whomever that appeared to be in their social class and stayed at home while the men worked and provide. The necklace was a symbolism of something that was considered priceless and caused this family to sacrifice theirRead MoreThe Necklace Short Story762 Words   |  4 PagesA Brief Summary of â€Å"The Necklace† In the story â€Å"The Necklace† by Guy de Maupassant, lives a young lady named Madame Loisel who lives an unhappy existence. Her husband tries to lift her depressed spirits by obtaining an invitation to the most luxurious of balls. She remains discouraged about going because she feels she does not have the right dress and believes her wardrobe is not fancy enough, so she insists that she cannot go. Her husband gives her enough money to buy a beautiful dress. Still unhappyRead MoreThe Necklace And The Bet Short Story867 Words   |  4 Pages Have you ever read an intense short story? Well both â€Å"The Necklace† and â€Å"The Bet† are the most intense short stories ever. Both authors from both passages explain the dialogue by discovering new aspects of the passages. In â€Å"The Necklace† written by Guy de Maupassant (1884), is about how a character called Mathilde that loses one of her friends necklace, that was a fake, and spends the next 10 years paying it off. On the other hand â€Å"The Bet† written by Anton Pavlovich Chekhov (1889) is about aRead MoreThe Necklace Short Story Essay713 Words   |  3 Pagescharacters through their similarities and their differences. In the short stories â€Å"The Necklace,† written by Guy de Maupassant, and â€Å"The Gift of the Magi,† written by O’Henry, readers can find many differences and similarities between their main characters. Della is the protagonist of the short story, â€Å"The Gift of the Magi.† Madame Loisel, also known as Mathilde, is the protagonist of the short story â€Å"The Necklace.† Both of these stories take place in past times and occur to poverty-stricken familiesRead MoreMadame Forestier And The Necklace Short Story978 Words   |  4 PagesMadame Liosel was furious at this statement. â€Å"Me and my husband have lived in poverty and work so hard to replace your necklace and you are saying yours was a fake?† Madame Forestier with her deepest sorrow said â€Å"yes†. Madame Liosel got so mad she graded the vase next to her and whacked Madame Forestier in the head. Madame Forestier was out cold, Madame Liosel not sure what to do stole a new set of clothes and all the jewelry she possibly carry. Madame Liosel took a cab to the jeweler where sheRead MoreGuy De Maupassant The Necklace. In The Short Story By Guy1113 Words   |  5 Pages Guy De Maupassant The Necklace In the short story by   Guy de Maupassant The Necklace A young beautiful maiden longing for the finer things in life becomes her greatest downfall. Whereas losing everything can make you bitter., greediness can sometimes lead forced humbleness.    The author of the story introduces us to Mathilde. She is the focus of the story. Noted for her beauty, she often dreamt as many do of being born in the wrong family. The setting of the story tells us that this fair maidenRead MoreAn Ironic, Witty Short Story by Guy de Maupassant, The Necklace1023 Words   |  5 PagesGuy de Maupassant is considered to be one of the fathers of short stories, he is a French author who lived in the 19th century. Born in 1850 at the Chateau de Miromesnil in France, to a lone literary mother who passed on her passion for books to Guy. The author’s writing style is characterized by economy of style, brilliant irony and elegant denouement. Maupassant wrote over 300 short stories, six novels, three travel books, and a volume of verse. Maupassant incorporated genres such as realism andRead MoreTwo Great Short Stories Read by Many are A Rose for Emily by William Faulkner and The Necklace by Guy De Maupassan583 Words   |  3 PagesTwo of the great est short stories written back in late 19th and early 20th centuries are still read by many people. The two stories are â€Å"A Rose for Emily† written by William Faulkner and Guy De Maupassant’s â€Å"The Necklace†. Faulkner’s book is about a woman named Emily Grierson’s life and her horrible secret she hides. The other book is about a materialistic woman named Mathilde Loisel loses a fake necklace and find out to be a fake one after ten years later. Although these stories are written about

Huckleberry Finn Ending Controversy Free Essays

Mark Twain is widely regarded as one of the greatest writers in the history of the United States, having spun many memorable and iconic tales in his own creative and unique style. Held high in this position as a great â€Å"American† novelist, Twain flirted with the creation of a universal masterpiece in his novel The Adventures of Huckleberry Finn. However, critics disagree on whether or not Twain’s work with Huckleberry Finn truly reaches the stature of a masterpiece, and that disagreement stems from the course the author chose for his conclusion. We will write a custom essay sample on Huckleberry Finn Ending Controversy or any similar topic only for you Order Now T. S Eliot finds Twain’s ending to be true to his style and the rest of the novel. Leo Marx finds that the ending abandons the apparent goals of the novel, leaving the work short of excellence. Twain ventured into the arena of greatness by combining two timelessly classic elements, and casting them as the central â€Å"characters† of his work. According to Eliot, Twain uses the â€Å"character† of the Mississippi River to relate to all nature, and he uses the title character of Huckleberry Finn to relate to the boy of mankind. Twain uses the former to guide the story and the latter to experience it. He engages the reader with his signature, easily accessed narrative and builds a strong foundation from these two universal elements. The only real question is the payoff; can the strength of the beginning be carried through to the end? This is where debate ensues, for Twain seemingly departs from the path he has laid throughout the novel to bring the story to resolution in a manner consistent with Twain’s writing, but not so much with the established course of this novel. Critics, such as T. S. Eliot, see the story’s ending, filled with the game-like attempts of the Tom Sawyer to free Jim, as a way to bring the reader back to the feelings of the beginning of the novel. It is a position with which I cannot disagree more. Instead, it is the view of Leo Marx that I see as the best dissection of the ending of The Adventures of Huckleberry Finn, one filled with flaws, significant enough that they â€Å"jeopardize the significance of the entire novel. † (Marx 291) Marx points out that the beginning of Huck’s journey with Jim has one specific goal, the goal to get Jim to freedom. This is made clear when Huck discovers the Duke and the Dauphin have sold Jim, causing Huck to say: After all this long journey . . . here was it all come to nothing, everything all busted up and ruined, because they could have the heart to erve Jim such a trick as that, and make him a slave again all his life, and amongst strangers, too, for forty dirty dollars. (199) Marx states â€Å"Huck knows that the journey will have been a failure unless it takes Jim to freedom. (294) However, at the end of the book we discover through Tom that Jim is already free. The impact of this revelation threatens the entire purpose o f the journey, and diminishes the events along the way. Possibly the most disappointing aspect of the ending is Tom’s plan to free Jim from the barn. Filled with humor and games, the freeing of Huck’s close friend is made into a joke. This comes after the fact that (1), Huck has made his journey down the river a quest for Jim’s freedom, and (2), Huck’s â€Å"growth in stature† (as characterized by Marx, p. 296) has elevated the tone of the story beyond farce. Two of the most prominent examples of this growth — Huck’s decision to â€Å"go to hell† rather than let Jim be sold back into slavery, and his sorrow felt for the Duke and Dauphin while seeing them run out of town, tarred and feathered, by the angry townsfolk – are trivialized for the sake of a few laughs at the end. We believe that we have experienced a metamorphosis of Huck. Starting as a naive and ignorant child, skeptical about the ways of society, we are lead to believe that Huck finally has a grasp on what it means to be human, as well as a â€Å"mature blending of his instinctive suspicion of human motives with his capacity for pity. † (Marx 295) Huck’s participation in Tom’s scheme not only sacrifices the character growth that seemed a central theme of Twain’s story to that point, but also seems to represent a mishandling of the conflict identified by Marx the difference between â€Å"what people do when they behave as individuals and what they do when forced into roles imposed upon them by society. (Marx 300) Huck is well aware of his goal: freedom for Jim. The relapse of his character without equal awareness is inexplicable without explanation from the author. As Marx points out: The conflict between what people think they stand for and what social pressure forces them to do is central to the novel. It is present to t he mind of Huck and, indeed, accounts for his most serious inner conflicts. He knows how he feels about Jim, but he knows what he is expected to do about Jim. 300) The idea of freedom in the minds of Huck and Jim are different from the simple definition of freedom, â€Å"for freedom in this book specifically means freedom from society and its imperatives† according to Marx (p. 303) The freedom sought by Huck and Jim is freedom both in the literal sense of being free from slavery, and in the figurative sense of being free from society’s expectations. However, given Huck’s questionable decision to go along with Tom, Huck gives into social pressure once again. He has given in to they ways which we were lead to believe he had overcome; he has given into the one convention he set out to escape from in the first place. It is with the appearance of Tom, that Huck’s quest for freedom no longer seems so important, even though he was previously willing to â€Å"go to hell† for what he had so diligently fought for along the way. The idea, the goal, is devalued for no clear reason. Such a departure of character cannot go simply unaddressed by the author. With Huck shifting back into the childish role we observed in the beginning of the novel, we also see yet another character simultaneously regressing, Jim. The tedious, degrading actions of the boys, in an effort to free Jim, are at first noted by Jim as such. However, he quickly becomes inexplicably submissive and accepting of what the boys are doing to him. This bears no resemblance to the Jim presented to the reader when the two companions were on the river. Twice Huck plays practical jokes on Jim, and twice Jim calls him out as being disrespectful, hurtful, and inconsiderate. And now, with freedom ever so close, the reader is expected accept that Jim’s passion for freedom and intolerance of nonsense has too vanished along with the maturity of Huck. Exactly how Twain expects this to be believable by the readers is questionable, unfortunately an answer is never offered. Instead, Twain seemingly dismisses the growth of his protagonists and resorts to the easy western comedy style from earlier in the novel. In the view of Eliot, this return to the introductory feel of the novel is a perfect example of great literary form. Instead, this return is nothing more than the apparent defeat of our seemingly maturing protagonist. Eliot’s argument that this return is of great form causes Marx to note in rebuttal, â€Å"A unified work must surely manifest coherence of meaning and clear development of theme,† and this regression of character fails to do either. With the ending of The Adventures of Huckleberry Finn being so clearly chronicled by Marx as a failure to complete the initiated theme, it is left only to see Eliot’s argument for the greatness of the ending as an argument refuted. As clear as Marx’s chronicle, it is equally clear that â€Å"Huck Finn’s besetting problem [is] the disparity between his best impulses and the behavior the community attempted to impose upon him†¦Ã¢â‚¬  (Marx 304). It is this disparity that needs resolution in order to have a proper ending to Huckleberry Finn. It is the transformation of the character, Huck Finn, through progression, not regression that would make the book a pure work of excellence. How to cite Huckleberry Finn Ending Controversy, Papers

Accounting Accounting for Business Decisions

Question 1: (a)Provide an executive summary of your companys background relating to business structure, operations, services and all other business activities that are conducted, etc. (b)Use the annual report for the year ending 30 June 2014. Your group will need to review the major sections of this report in order to familiarize yourselves with the content of each of the financial statements and appropriate notes to the financial statements. Review the balance sheet of the company and indicate the amount of the following: a) Total current assets b) Total non-current assets c) Total current liabilities d) Total non-current liabilities e) Total stockholders equity Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial condition of the company.(c) Review the income statement and indicate the following: a) Total (operating) revenues b) Cost of Goods Sold (if relevant) c) Total expenses (before income taxes) d) Any non-operating (or extraordinary) gains and losses e) Earnings per common share Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial operation of the company. (d) Review the statement of cash flows for the most recent year and indicate the following: a) net cash inflow (outflow) from operating activities b) net cash inflow (outflow) from financing activities c) net cash inflow (outflow) from investing activities d) net increase (decrease) in cash during the year Analyse the Cash Flow Statements for the last 2 years and comment on the cash position of the company. (e) Review the stockholders' equity section in your chosen company's most recent year-end balance sheet and compare that with the previous year-end balance sheet. Compare percentage increase or decrease. List the stockholders' equity account balances and number of outstanding shares from these two balance sheets and compute the increase or decrease for each during this past year. Question 2: Recently you received the following offers from the organizers of Melbourne Tennis Open 2015: Now you can buy premium tickets to the coming Melbourne Tennis Open 2015 with signatures of your choice of popular tennis players like Rafael Nadal, Roger Federer to name a few. However, there are only 3,000 tickets that have these collectible features. i Retail price: $300 each ii Tennis club members: $280 each iii To order, complete the online order form @ www.MTO2015.com.au. iv Allow 5 days for delivery 1. Describe the alternatives the organisers have in relation to recognizing revenues. Which would you recommend and why? 2. Would your answer differ if you included in the sale of the tickets that if the customers are not happy the tickets may be returned within one month? 3. Let us assume that the organisers contracted a selling agent that takes care of all selling and marketing responsibilities, gets 10% as commission. The policy states that no return no exchange. When should the organisers recognize revenue? 4. With regards to the authenticity of the signatures, do you think the accounting profession have the skills to provide the services to authenticate? Discuss and show examples. 5. Discuss the importance of Cost of Goods Sold(COGS) in this case. How is it applied? 6. Let us say that the signatories will get a fixed fee for the effort, when would the organisers recognize the expense? 7. Assume that the signatories will get a 5% commission on the sales of their signed tickets. When would the organisers recognize the cost? Answer 1: (a) Myer Holdings has been operational for over more than a 100 years, and belongs to the fashion, lifestyle and clothing industry. With time, it has come out to be Australias largest departmental store along with an exponentially capturing online market (Myer, 2014). The gross sales for the financial year ending 2014 is said to be close to a $3 billion mark, which itself reflects the kind of market hold Myer has in Australia. As of now, there is over 68 departmental stores pan Australia, which is only going to be increasing in the coming times. The technological revolution had also forced Myer to expand itself in the digital market and therefore Myer has come up with a digital online market space as well facilitating through mobile applications. Thus, the existence of a multi-channel connect with customers empower them with a broader market segment, also catering to the diversified interests of the customers. Myer Holdings Limited has a total of 11 core products which are womenswear; menswear; youth; childrenswear; intimate apparel; beauty, fragrance and cosmetics; home products; electronics; footwear and accessories; toy lines; and lastly, general merchandise. The company has operations in multiple facilities and has suppliers from across the globe. (b) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. The total current assets for the period of 2014 would be $480,460. Now, the total current assets for 2013 were $479,176. It has presently increased by $(480,460 479,176) = $1,284. It reflects an increase of 0.267%, a very insignificant increase in the total current assets. 2. The total non-current assets for the period of 2014 would be $1,452,204. Now, the total non-current assets for 2013 were $1,460,529. It has decreased by $(1,460,529 1,452,204) = $8,325. It reflects a decrease of 0.569%, which is relatively insignificant. 3. The total current liabilities for the period of 2014 would be $530,881. Now, the total current liabilities for 2013 were $528,658. It has increased by $(530,881-528,658) = $2,223. It reflects an increase of 0.42%. 4. The total non-current liabilities for the period of 2014 would be $508,370. Now, the total non-current liabilities for 2014 were $505,405. It has increased by $(508,370 505,405) = $2,965. It reflects an increase by 0.586%. 5. The computation formulae for calculating stockholders equity is the balance of total liabilities being deducted from total assets (Keythman, 2014). The total assets are current assets + non-current assets = $1,932,664. The total liabilities would be current liabilities + non-current liabilities = $1,039,251.The total stockholders equity for the period of 2014 would be $(1,932,664 1,039,251) = $893,413. Now, the stockholders equity for 2013 would be total assets minus total liabilities, $(1,939,705 1,034,063) = $905,642. Therefore there is reduced shareholders equity at the moment by $12,229. This means that the total stocks owned by the stockholders of the company have decreased from 2013 to 2014 by 1.35%. (c) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. Total operating revenues The revenue from sale of goods were $2,612,167 and other operating revenues were $128,769. Therefore the total operating revenue for 2014 was $(2,612,167 + 128,769) = $2,740,936. Likewise, for 2013, the total revenue from sale of goods was $2,621,242 and other operating revenues were $126,293. Therefore, the total operating revenue for 2013 was $2,747,535. There has been a decrease in the operating revenue by $(2,747,535 2,740,936) = $6,599, indicating a 0.24% decrease. 2. Cost of Goods Sold (COGS) The COGS for 2014 comes out to be $1,455,066. Now, the COGS for the year 2013 was $1,443,005, indicating an increase in the current COGS amount by $(1,455,066 1,443,005) = $12,061. This reflects an increase by 0.835%. 3. Total expenses (before income tax) The Selling expenses for the current year are $811,718 whereas the administration expenses come out to be $320,204. Thus, total expenses are $1,131,922. Likewise, for the year 2013, the total expenses would be $(783,800 + 306,338) = $1,090,138. On comparison, we figure out that the total expenses in 2014 have increased by $(1,131,922 1,090,138) = $41,784. This would indicate an increase in expenses by 3.832%. The sudden increase in costs must stand out to be justified. 4. Any non-operating (or extraordinary) gains and losses An amount of $6,356 was earned in the year 2014 from other sources, as compared to an amount of $457 in 2013. This marks a huge increase of $5,899, equivalent to an increase of 1,290% which is a significant amount of increase in income from other sources (Myer, 2014). All the amounts mentioned below are as stated 5. Earnings per common share The earnings per share can be segregated into two different categories, viz., basic earnings and diluted earnings. The basic earnings of 16.8 cents/share and diluted earnings of 16.6 cents/share was generated in 2014, a gross total of 33.4 cents/share. Comparing this with the 2013 earnings per common share, it was 21.8 and 21.6 cents respectively, a gross total of 43.4 cents. This is a decrease in earnings per share, equivalent to (43.4 33.4) cent = 10 cent per share. (d) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. The net cash inflow from operating activities in the year 2014 was $191,576. In the year 2012, the net cash inflow from operating activities was $179,194 and the same in the year 2013 was $225,525. Thus, we notice that the operational success increased in 2013, but however, it went little low as compared to 2013, in the financial year ending 2014. 2. The net cash outflow from investing activities in the year was $104,250. In the year 2012, the net cash outflow from investing activities was $46,409 and the same in the year 2013 was $66,956. Thus, there is an increasing trend in the investing patterns of the company. 3. The net cash outflow from financing activities in the year was $95,232. The year 2012 witnessed the financing activities to be at the level of $132,721 whereas in 2013, it was close to $115,157. Thus, there is a decreasing trend in the outflow of financing activities for Myer and this implies that the company is beginning to give fewer dividends per share to the stakeholders of the company. 4. The net decrease in cash flow for the entire year came to be $7,906 In the year there was a positive net cash inflow of $784 and in the year, the same was $43,412. An exponential increase in the cash inflow was witnessed from 2012 to 2013, and finally, there was a negative cash inflow in the year 2014, as compared to 2013 (e) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). The computation formulae for calculating stockholders equity is the balance of total liabilities being deducted from total assets (Keythman, 2014). The total assets are current assets + non-current assets = $1,932,664. The total liabilities would be current liabilities + non-current liabilities = $1,039,251.The total stockholders equity for the period of 2014 would be $(1,932,664 1,039,251) = $893,413. Now, the stockholders equity for 2013 would be total assets minus total liabilities, $(1,939,705 1,034,063) = $905,642. Therefore there is reduced shareholders equity at the moment by $12,229. This means that the total stocks owned by the stockholders of the company have decreased from 2013 to 2014 by 1.35%. The stockholders equity for the year 2013 was $905,642, whereas the same amount was at the level of $893,413 in the year 2014. Thus, we notice that there has been a decrease of $(905,642 893,413) = $12,229 in the balance of the shareholders equity. This reflects a decrease of 1.35%. Answer 2: Case Study The organizers of Melbourne Tennis Open 2015 have planned a way to monetize and generate maximum revenue from the event. The plan is to sell premium tickets to people with the signatures of tennis stars like Rafael Nadal and Roger Federer. The stipulation being there are a limited number of tickets carrying these collectible features? Also, the tennis club members get an additional $20 discount on the purchase of a single ticket. Needless to say, the tickets are limited and the fans lining up to buy them will be large in number. For the process to be fair and simple, and just too, the buyers have to fill the form online and the first or probably lucky 3,000 will get these tickets at the aforementioned price. The idea is to monetize the sales to a maximum extent and also generate revenue from the Melbourne Tennis Open 2015 1. Alternatives the organizers have in relation to recognizing revenues. Apart from the said collectible features, the organizers can plan on taking the following steps for recognizing revenues: (a) Selling the offer tickets on a first come, first serve basis at a preferentially increased rate would lead to more revenue recognition by the organizers. (b) Selling the offer tickets at premium rates when the last bunch of tickets is left. (c) Calculating the cost of all the offer tickets and the ascertained cost should be given to a single ticket having either Nadal or Feeders signature (or both) and putting it up for auction. I would go for option c) as it will attract the highest number of bidders and undoubtedly the sold bid will be at much higher prices than was expected originally from the normal course of sale of the 3,000 tickets. 2. Had the tickets been carrying the option of getting a return within a month, if the customer is not happy from them, my answer would indeed differ as with the given option, the turnout to buy these tickets would be more and thus the sale would be a huge success amongst the masses. On the other hand, a possibility could also arise when a minor of the masses would think that as the tickets are carrying the option of getting a return within a month, the tickets might not be genuine, unauthenticated or out of the whole lot of the 3,000 tickets only a small number would be genuine and the rest may be counterfeit ones. Also, some people would also buy tickets but when the one month is getting close to an end, they would ask the organizers to refund their tickets as they found themselves quite unhappy from the tickets and would thus ask for a refund. In either of the above case, the number of people turning out to buy the tickets would be less than as estimated and this would have a negative or decline in the number of tickets being sold, which would in turn decrease the amount of revenue being generated from the sale of the offered tickets. Overall, if the tickets had been carrying the option of getting a return within a month, my answer would have a slide either to an increase or decrease in revenue on the tickets being sold, but the answer would for sure not be the same had the stipulation not been added to the existing question. 3. If the organizers contracted a selling agent, the organizers would recognize revenue when even after giving the agents commission, the organizers are getting their expected outcome on the sale irrespective of the number of tickets being sold. This would be because as all the selling and marketing responsibilities are being borne by the agent, the same cost had it been incurred by the organizers they would amount to be even higher than expected but in this case only a fixed amount (here 10% commission) is being given and all the selling and marketing expenses are being covered in the same. This is completely parallel with the idea of putting up an Initial Public Offer wherein a stabilization agent is appointed in order to take care of the response rate of the purchase of shares at the time of the IPO (Kuhn, 2014). 4. According to me, in the accounting profession, there are mannerisms to verify and authenticate the validity of the signs put on the premium tickets of any sports event sold to customers or audience attending the same. This can be put in because the verification of these premium tickets will ensure the legality of the product being sold and the transaction being entered into between the organizers of the sports event and the customers purchasing the ticket. I could perhaps state the example of banks verifying the signatures of the cash withdrawers drawn on cheques, so as to ensure that the right concerned person is withdrawing these monies. 5. The Cost of Goods Sold (COGS) plays an important role in the said situation as the company has to consider the gross COGS while deciding the $280 and $300 price rates of the tickets for the tennis club members and other people respectively. The considerations put herein must be in regard with the amount of different headers which the organizers must have incurred in the normal course of business operations of availing the tickets to the customers and the prospective buyers (Baskerville, 2011). The various items which are put into the calculation of the COGS are equally relevant to the inclusion of expense heads like cost of getting the tickets printed, advertising costs, marketing costs, labour involved, commission charges and the sales agents costs. Also, it must be stated that in order to calculate the Gross Profit, calculation of COGS is extremely important. COGS (also Cost of Sales) is applied when we add together our Opening Inventories and Purchases and lessen the Closing Inventories from the same. In Short, Cost of Goods Sold = Operating Inventories + Purchases Closing Inventories 6. If the signatories are getting fixed fees for their efforts, the organizers will recognize expense right after the signatories have finished conducting their tasks. It is so because these tasks are not related with the criteria of tickets being sold, and hence will be recorded right at the time of these expenses being incurred. This would be because no matter the cost of the tickets, how much it amounts to, the organizers have to give the fixed amount to the signatories, irrespective of the tickets being sold. The above answer is as per my judgement. 7. If the signatories get a 5% commission on the sales of the signed tickets, the organizers would realize revenue when after the sale of tickets, and the 5% being charged on the sale of tickets, the remaining amount being realized by the organizers would be treated as revenue for the same. The signatories are entitled to a fixed commission (here 5%), based on the aspect of these tickets being sold since the commission will be variable depending on the number of tickets sold. For instance, if Nadals 500 tickets are sold, the signatory would be entitled to an amount of $300 x 5% x 500 tickets = $7,500. The previous calculations were made on the assumption that the tickets were bought by the general public. References AccountingWeb. (2008, February 7). Baseball tickets: Touch all the tax bases. ASX. (2014).Preliminary final report of Myer holdings limited. Bajkowski, J (1999, January). Financial Statement Analysis: A look at the balance sheet. Baskerville, P. (2011). What is cost of goods sold (COGS)? Day, JW. (2014). Theme: Cost of goods sold. Kuhn, T. (2014, September 4). Alibaba Group Holding has appointed Golden Sachs as its stabilization agent for its upcoming initial public offer. Myer Holdings Limited. (2012).Preliminary final report for the period ended 28 July 2012. Myer Holdings Limited. (2014).Company profile. Zions Bank. (2014). How to prepare and analyze a balance sheet?