Race and Ethnicity Essay Example for Free

Race and Ethnicity Essay What it means to be white can have so many definitions and/or variations. What it means to be white is to be above the rest [blacks]. Whites are taught to think they are better than blacks; more privileged than one another. But what they failed to realize is how privileged they actually are. Author Peggy McIntosh takes viewers on an in depth voyage on what it means to be white, what whiteness is, and how privileged they are. White privilege refers to the set of social privileges that white people are argued to benefit afar from commonly experienced people of color in the same social, political, or economic setting. Whiteness represents both noticeable as well as less noticeable unspoken advantages that white individuals may not recognize they have. The notion of white privilege just as male privilege implies that whites assumingly has the right to be considered as normal no matter how culturally bias this problem may seem. McIntosh explains that as a white person, she realizes she had been taught about racism as something that puts others at a disadvantage. Students need to explore what it means to be white because they have become wrapped in what it is like to be black, meaning blacks being stereotyped as poor and disadvantaged. As McIntosh puts it being white is considered to be more privileged. In my opinion, to be white is to be as ordinary as any other person. Not looking at the fact that racism is still on the rise everywhere I go, to be white simply means to be more privileged than the lower working class. Nevertheless, whiteness and white privilege affects both whites as well as blacks. In my own experiences whiteness has affected me in my school as well as personal life. White privilege reminds me of time when there was segregation present. Cases of whiteness has taken away from many opportunities for blacks. Although it may seem biased it’s true. McIntosh explains that as she grew older she was trained to be white. Her whiteness taught her what it was like to be racist and to feel like she was free from all the hostility and distress that blacks experienced. Many, perhaps most, of our white students in the United States think that racism doesn’t affect them because they are not people of color; they do not see whiteness as a racial identity. Whiteness and white privilege is also on the rise in the United States. It seems as though it has become the new American Dream. Whether a person is taught to be white or it is learn throughout one’s life span there is no end to it. Peggy McIntosh also gives many examples on how whites can level the issue of whites being over-privileged. White individuals need to seek to change their attitudes says, McIntosh. Consequently, the American Dream is different for everyone no matter what our race, ethnicity, age, or social competency may be. Just as men feel they have to always take an extra step to be noticed, women, black or white must do the same too. Peggy McIntosh released a lot of information that should be vital to students everywhere. Knowing how they can be affected by white privilege can be very important to students everywhere, not to mention English language learners as well. The effects of white privilege may have a greater effect in them seeing as they are just learning the English language and they may grasp the wrong customs.

art :: essays research papers

Beginning with the media of watercolor her senior year, Sara Dosenberry, realized her love for the world of art, creativity, and beauty. Jan Alfano, the inspiring art teacher favored watercolor, which is how Sara developed much of her technique. With her love of the all art she has realized an influence from music coming into play in some of her more current works. Another more current influence and most prominent in her works has been her past three vacations in Hawii. Displaying a very organic, realistic feel to her works, Sara enjoys potraying this through natural tropical scenes including seascapes, landscapes, and her favorite subject that appears repeatedly, palm trees. She is self expressive with her use of warm and bright colors, loose brush stroke, and realistic portrayals she is creating wonderful movement and fluidity. This provides a calmming relaxed and clean composition.   Ã‚  Ã‚  Ã‚  Ã‚  In the future, hoping to find a career restoring paintings, Sara has choosin Kendall College of Art and Design to fufill her education in this creative field. Included in her foundation classes is three dimentional design class, which Sara find to be especially enjoyable and very open to creativity, unlike most other foundation classes which are mostly teaching technique. She is allowed freedom of expression while she still maintains her organic, soft and relaxed style.   Ã‚  Ã‚  Ã‚  Ã‚  Beginning the semester with a very unique and original assignment, Sara responded using those same elements, using her very theme of palm trees. The project was a first and successful attempt to the beginning of three dimentional design. The nest objective was to create a modular form which she thought to be difficult and uncreative in terms of her exploring the projects limits. She was unsatisfied with her use of neitive space but still has learned a great deal from the project. A more current sculpture was developed with a media which was new to her, sculpey, a type of clay.

Oil and Gas Accounting Test Review

Natural gas, and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions Proved Developed Reserves- reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Proved undeveloped reserves- reserves expected to be recovered by new wells on underlined acreage, or from existing wells where a relatively major expenditure Is required for recompilation Phases Encountered In upstreamOperations Pre-license prospecting Geological evaluation of relatively large areas Mineral right acquisition/contracting Activities related to obtaining from the mineral rights owner the legal rights to explore, develop and produce OLL In a particular area Production sharing contracts- arrangement by which companies obtain rights from the government to explore, develop and produce Exploration Evaluation and apprais al Development Drilling additional wells necessary to produce the commercial reserves, constructing platforms and gas treatment plants, constructing equipment and facilities necessary or getting the oil to the gas for processing and constructing pipelines. Production Extraction and treatment. Closure CHAPTER 4 Pre-license prospecting and nondrying exploration Identifying areas that may contain oil and gas reserves US Successful efforts- G&G costs expensed as Incurred Entry: Db Expense car cash (before or after license calculations) overhead costs with G&G activities Successful efforts- expensed as incurred. Successful Efforts Geological and Geophysical costs must be expensed as incurred. Doesn't matter if costs are Incurred before or after the license Is acquired.G costs and contract counting If operation is conducted under Lease or concession agreement, it is unlikely that the contract would contain provisions that would permit cost recovery of these costs If the operation Is condu cted under a SC or risk service agreement, the contractor may be permitted to recover G related expenditures incurred after license acquisition and possibly G costs Incurred before license acquisition Support equipment and faculties depreciation or operating costs become an exploration, development or production cost, as appropriate. Entries: Db G expense -depreciation Car Accumulated Depreciation Db G expense-operating costs Car Cash Reprocessing Seismic How to account for cost of re-evaluation or reprocessing of the data? If the reprocessing relates to the search for oil then it should be accounted for according to SE provisions regarding prospecting and nondrying exploration costs. If the purpose is to determine how best to develop the reserves in the field, then they should be capitalized as development costs.License acquisition costs Costs of evaluating business environment, signature bonus, negotiating, etc should be capitalized Entry: Db Intangible assets-unproved property Ca r Cash Development and production bonuses If the payment is actually a deferred signing bonus, the appropriate accounting treatment is to capitalize the development bonus as a license acquisition cost. Accrue once the operations are apparently proceeding to the development phase. Entries: To record signature bonus: Db Intangible Assets – unproved property Car Cash To transfer unproved property costs to proved due to commercial discovery: Db Proved property Car unproved property To record accrual of production bonus: Proved property Car production bonus payable To record payment of production bonus: DbProduction bonus payable Car Cash Internal costs relating to acquisition Can allocate capitalized costs to individual licenses acquired, on an acreage basis or an a potential licenses basis Costs of carrying and retaining unproved properties Costs relating to maintaining unproved properties be charged to expense as incurred Ex: delay rentals paid on lease mineral properties until specified work is commenced, property taxes, accounting costs, legal costs Impairment of unproved property Impairment has occurred if there is some indication that the capitalized cost of an unproved property is greater than the future economic benefits expected to be derived from the property. Under SE, loss should be realized. Negative G data and dry holes would typically suggest that part of the property's historical cost has expired and impairment should be recognized Db Impairment expense Car Allowance for impairment FAST permits impairment of individually insignificant properties on a group basis. Apply the impairment percentage to the total cost of the group of individually insignificant unproved properties. This determines the desired balance in the allowance for impairment account. Next the difference between the current balance and the desired balance is recognized as impairment expense.Entry: Impairment Expense Car Allowance for impairment, group basis Abandonment of unp roved property Full abandonment: When an individually significant license area is abandoned, its net capitalized acquisition costs should be charged to surrender and abandonment expense Ex: Db Surrender and abandonment expense (equal to acquisition cost) Db Allowance for impairment (balance) Car unproved property Partial Abandonment or Relinquishment the future economic benefit of the property, then the entire property should be assessed for additional impairment. Unproved property classification An unproved property should be reclassified too proved property status if and when commercial reserves are discovered on the property. Ex: Db Tangible Assets- proved property (acquisition costs) Db Impairment Allowance (balance) Car In tangible assets- unproved property Sales of unproved property If the property was individually significant, a gain or loss should be recognized on the sale.Ex: Db Cash (sale price) Db allowance for impairment (balance) Db/Car(gain or loss) Car unproved proper ty If the property was individually insignificant, a gain would be recognized only if the selling price exceeds the original cost of the property. Loss recognition is not allowed. CHAPTER 5 Accounting for Exploratory Drilling and Appraisal Costs Under SE, general nondrying exploratory costs are to be charged to expense as incurred; exploratory drilling type costs are initially capitalized. Exploratory Well- well drilled to find and produce oil or gas in an unproved area to find a new reservoir in a another reservoir or to extend a known reservoir.Stereographic test well- drilling effort to obtain information pertaining to a specific geological condition. Exploratory type† if drilled in a proved area, â€Å"development type† if drilled in a proved area. Exploration well- well drilled to discover whether oil or gas exists in a previously unproved geological structure Appraisal well- well drill to determine the size, characteristics, and commercial potential of a reservoir by digging an exploratory well. Classifying Drilling costs Separate intangible drilling costs (DC) from equipment costs. IDS deducted in year incurred for US tax law. Equipment costs may be depreciated over 7-10 years. Besides tax purposes, distinction has no significance Targeted DepthWhen evaluating after drilling : if commercial reserves have been discovered, the drilling in progress account balances are transferred to another type of asset account that will be subject to depreciation The first successful exploratory well's cost will be reclassified from an unproved to a proved property account If well is unsuccessful, plug and abandon hole and charges these costs to dry hole expense, net any equipment salvaged from well. If the license area is also relinquished, the net carrying value must be written off. Capitalized G SE- G costs are to be charged to expense as incurred. Current methods may capitalize AD and AD seismic methods used to determine drill sites.Time Limit on explor ation and evaluation or appraisal costs In order for cost to be capitalized in SE, there must be identifiable future benefit. IF an exploratory well has found oil reserves in an area requiring major capital expenditure to be classified as proved. In this case, the cost of drilling the exploratory well shall continue to be carried as an asset as long as 1. The well has found a sufficient quantity of reserves to Justify its completion and 2. Drilling of the additional wells is under way or planned for the near future All other wells, shall not be carried as an asset for more than one year following completion of drilling Post- balance Sheet Period GAP provisions that relate to information about conditions that existed at the financial statements are issued.If well is determined dry, capitalized costs are written off to dry hole expense If commercial reserves are found, the capitalized drilling costs are transferred to the wells and equipment accounts All the capitalized costs of an ex ploratory well are typically reclassified as dry hole expense or as wells ND related equipment Cost approval, budget and monitoring APE- Authorization for expenditure CHAPTER 6 Drilling And Development Costs- US SE Development costs- costs incurred to obtain access to proved reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas. More specifically, development costs, including depreciation and applicable operating costs of support equipment and facilities and other costs incurred to: Gain access to and prepare well locations for drilling, including surveying, draining, road building, etcDrill and equip developmental wells, including costs of platforms Acquire, construct and install production facilities such as lease flow lines, separators, etc Provide improved recovery systems Development well- well drilled within the proved area of an oil or gas reservoir to the depth of a stereographic horizon known to be productive Service well- comple ted for the purpose of supporting production in an existing field. Development type stereographic well- stereographic test well drilled in a proved area Capitalization of Development-Related G Exploration Costs Requires capitalization of G in development activities. Unless it is performed on a development land area but to an unknown structure- expensed. If ad seismic is being used to study the reservoir and perhaps where addition development wells should be drilled, theoretically the cost should be capitalized to the field as development cost.Overhead As a general rule, all G is expensed, however where the company has a defined method for allocation is permitted to capitalize these costs as part of development Capitalization of Depreciation of Equip and Facilities Depending on nature, costs can be expensed or capitalized Capitalization of Financing Costs Capitalization of Interest† requires that a portion of interest costs incurred during the construction phase of assets shoul d be capitalized as a part of the cost of the self-constructed asset. Interest capitalization only applies to qualifying assets: 1 . Assets that are constructed or otherwise produced for an enterprise's own use 2.Assets intended for sale or lease that are constructed or otherwise produced as discrete projects (ships or real estate developments) Amount to interest to capitalize- the portion of interest costs incurred during the period when the asset is being instructed that could have been avoided if the spending on the asset had not been made. Capitalization period shall begin when 3 conditions are met: Expenditures for asset have been made Activities that are necessary to get the asset ready for its intended use are in progress Interest cost is being incurred Sole Risk or Carried Interests If an asset requires a period of time in which to carry out the activities necessary to bring it to that condition and location, the interest cost incurred during that period as a result of expen ditures for the asset is a part of the historical cost of acquiring the asset. CHAPTER 9 Production Costs Costs of labor to operate the wells and related equipment and facilities Repairs and maintenance Materials, supplies, and fuel consumed and services utilized in operating the wells and related equipment and facilities Property taxes and insurance applicable to proved properties and wells and related equipment and facilities Severance taxes Depreciation, depletion and amortization Accounting for Production Costs All costs relating to production activities, including workers costs incurred solely to maintain or increase levels of production from an existing completion interval, shall be charged to expense as incurred.An expenditure that enhances original performance of the well should be capitalized Materials and supplies- capitalize if used in drilling or development. If used in repair or maintenance, they should be expensed. Recompilations- typically involve entering an existing well and deepening or plugging back in order to achieve production in a new formation or a zone in an existing formation. In a currently or previously producing formation or zone should be treated as an expense since the purpose is to restore production without an increase in commercial reserves If the objective is to develop reserves in a new urination or find new reserves, the activity would be new drilling. Drilling costs could be exploratory or development rather than production) Costs should then be capitalized or expensed depending on SE or FCC and on outcome of drilling Taxes (severance or production) should be expensed as production costs Crude Oil Production 1 Barrel = 42 gallons of oil at 60 degrees F API gravity (measure of density) of oil = the higher, the lighter the oil All crude contains BBS&W- basic sediments and water Disposition: outright sales, direct supply, indirect supply, exchanges, prefacers, or oil seed in operations Gas measurement Measurement in Mac is af fected by temperature. , pressure, compressibility, gravity etc Standard pressure is 14. 73 pounds per square inch at 60 degrees Fahrenheit Pre Acquisitions Acquisition Exploratory 0 Development 0 Production List the four Oil & Gas Agreements used on a worldwide basis and describe each one. 1 .US Domestic lease agreement- an oil and gas lease grants to the oil and gas company the right and obligation to operate a property. This includes the right to explore for, develop and produce oil and gas from the property and also obligates the many to pay all costs. (Company is a working interest owner). All costs, all risk. Agreement- encountered in operations outside the united states where the mineral rights owner is the local government. Sometimes the government is involved with a joint working interest. Payment of a bonus by the oil company to the government at the time the contract is signed. Payment of a royalty to the government. Responsible for paying all of the costs incurred in dev eloping. 3.Risk service agreement- oil companies reform workers aimed at restoring or stimulating production including application of current technology to currently producing fields. Bonus to national government at contract signing. Government retains ownership of reserve. Oil company incurs all costs and risks. Operating and capital costs incurred are recovered through payment of operating and capital fees. Government may participate in operations as a working interest owner. 4. Production Sharing contracts- companies obtain the rights from the government to explore for, develop and produce oil and gas. Company pays bonus to national government at contract date. Pays royalties to government. Government maintains ownership of reserves. Companies incur all risk and costs.Company required to spend a predetermined amount of money, which is recoverable from future production. 2. ) Describe the life cycle (Phases) of an Oil & Gas Project. Include the Accounting Treatment (ii. Successful Efforts or Full Cost Pool) for each phase. 1. Pre-license prospecting- geological evaluation of relatively large areas before acquisition of petroleum rights. Analyzing G&G data. Successful Efforts (SE) Method The Financial Accounting Standards Board (FAST) has issued FAST Statement No. 19 dealing with the successful efforts method. Under the SE method, costs incurred in searching for, acquiring, and developing oil and gas reserves are capitalized if they directly result in producing reserves.Costs which are attributable to activities that do not result in finding, acquiring, or developing specific reserves are charged to expense. The cost center for the SE method is a lease, field, or reservoir. The various types of costs are treated under the SE method as follows: 1 . Acquisition Costs: They are capitalized to unproven property until proved reserves are found or until the property is abandoned or impaired (a partial abandonment). If adequate reserves are discovered, the property is reclassified from unproven property to proven property. For tax purposes, acquisition costs are handled the same way except the cost cannot be partially written off as an impairment expense.The property must be abandoned before any cost may be written off. 2. Exploration Costs: They are recorded in two different ways, depending upon the type of costs incurred. A. Nondrying Costs: Examples of these type of costs are geological and geophysical (G & G) costs, costs of carrying and retaining undeveloped properties, and dry hole and bottom hole contributions. These types of costs are expensed as they are incurred. For tax purposes, nondrying costs are capitalized to the applicable b. Drilling Costs: They are treated differently depending on whether the well drilled is classified as an exploratory well or a developmental well. An exploratory well is a well drilled in an unproven area.A developmental well is a well drilled to produce from a proven reservoir. 1) If an exploratory well is a dry hole, the costs incurred in drilling the well are expensed. If the exploratory well is successful, the costs incurred in drilling the well are capitalized to wells and related equipment and facilities. ) The costs incurred in drilling developmental wells are capitalized to related equipment and facilities even if a dry hole is drilled. The costs associated with tangible well equipment and facilities are capitalized, regardless of the type of well drilled. For tax purposes, certain costs associated with such equipment are eligible for treatment as deductible ‘DC.Tax depreciation methods usually allow for a more accelerated rate of depreciation than book or financial depreciation. Also, book depreciation will be computed on 1-1 The developmental dry holes and IDS which are capitalized for book purposes but expensed for tax purposes. Therefore, an M-1 adjustment will be required on the difference between the amount of book and tax depreciation. 3. Production Costs: These c osts are expensed as incurred, which is the same treatment used for tax purposes. It should be noted, however, that many taxpayers erroneously expense overhead attributable to either acquisition or exploration activities as production costs.Overhead attributable to acquisition and exploration costs must be capitalized. 4. Depletion: This usually requires an M-1 adjustment. Although the cost depletion formula is the same for book and tax purposes, the mount for the basis used in the computation of cost depletion will vary due to the difference in capitalization. In addition, many taxpayers will be allowed to use a larger percentage depletion deduction Full Cost Method Under the FCC method, all costs incurred in exploring, acquiring, and developing oil and gas reserves in a cost center are capitalized. 1. Geological and geophysical (G & G) studies, successful and unsuccessful, are capitalized for book and financial purposes.For tax purposes, successful G & G costs are capitalized and unsuccessful G & G costs are expensed. An M-1 adjustment is required for the amount of unsuccessful G & G costs expensed. 2. Delay rental costs are capitalized for book and financial purposes. 3. 4. Exploratory dry hole costs are capitalized for book and financial purposes. For tax purposes, all dry hole costs (exploratory or developmental) are capitalized unless the taxpayer elects to expense them. Since most taxpayers expense these costs for tax purposes, an M-1 adjustment is required. 5. Impaired or abandoned property costs remain capitalized in the cost center for book and financial purposes.For tax purposes, no deduction is allowed unless a property is totally worthless. An M-1 7. General and administrative costs which are not associated with acquisition, exploration, and development activities are expensed. However, overhead that can be associated with acquisition, exploration, and development activities is capitalized. The costs are handled the same way for tax purposes. 8. D epletion usually will require an M-1 adjustment. In many instances, taxpayers may be able to claim a larger percentage depletion deduction in lieu of cost depletion. Even where cost depletion is claimed for book and financial purposes because of the different capitalization rules, the amount of cost depletion allowable will vary.

Micro and Macro Environment for Baby Formula - Free Essay Example

Sample details Pages: 2 Words: 683 Downloads: 7 Date added: 2018/12/15 Category Marketing Essay Type Assignment Level High school Topics: Organization Essay Did you like this example? Every business organization is part and parcel of the business environment. This environment is the one in which the business operates and interact. In reality, no business or organization can operate in isolation. Don’t waste time! Our writers will create an original "Micro and Macro Environment for Baby Formula" essay for you Create order This is because; many factors are closely surrounding the business (Blythe, 2005). These factors are what is referred to as a business environment. The microenvironment is a type of environment that affects the internal functioning of an organization. It is directly attached to the organization, and moreover, it covers a smaller area in which the organization operates. The micro-environment can be distinct from one organization to another, and the organization can adequately take necessary steps to control this type of environment (McDonald, Dunbar, 2013). On the other hand, Macro- environment is a type of environment within the economy, which affects an organization decision making and the strategy of all the businesses in the economy. This type of environment cannot be easily controlled since it keeps on changing. Also, no business organization is exempted from this particular type of environment (Cant, 2006). Baby formula is the type of product that acts as an alternative to natural breast milk. This product is mainly meant for infant babies, and instead of mothers having direct breastfeeding they resort to the use of the baby formula. This formula is ascertained to be safe and healthy for the babies. They exist in different ranges and types, but all in all, they serve the same purposes (Dibb, Simkin, 1995). The business is manufacturing baby formula. Type known as Aptamil Gold. The target market for the Amtamil Gold product will be the breastfeeding mothers and their infants. This is because the products are mainly meant for mothers who have already delivered. The market will be positioned into segments and also geographical positioning. To start with the market segmentation, the Aptamil Gold formula will be segmented according to the period of breastfeeding. Infant below the age of 3 will be segmented on their own and between the ages of 3-4 will also be segmented alone, and lastly, the age of 5 and above will have their segmentation. In simple terms, the market will be segmented into three parts, and each market segmentation will have its product which will be in line with the age of the infant. Different prices will also be charged in these different segments (Wedel, Kamakura, 2000). Since the target market is as well the underdeveloped countries, the market will as well be segmented according to geographical areas. This will enable the sales to increase and to make the product available to all the consumers who need it. Different prices will have to be charged according to the geographical position. The organization is having a challenge of the microenvironment such as stiff competition from other companies that are manufacturing other types of baby formula. In addition to this, the organization has highly qualified employees who are competent to ensure that the organization products outperform the competitors products. This does make the organization to have a high control of market share (Blythe, 2005). On the other hand, the Macro-environment in which the organization operates in includes the political and legal requirements. Aptamil Gold is manufactured and produced according to the health and safety standard governing the production of this formula hence the business must comply with these standards. Secondly, the business uses the most recent technology in the production of the baby formula product to outperform and compete fairly with the competitors. In conclusion, the business must be ready to try as much as possible to have control of these two environments, even though the macro-environment is not easy to forecast. Market positioning and segmentation is also essential in the marketing of a competitive product. References Blythe, J. (2005). Principles and practice of marketing. London: Thomson Learning. Cant, M. C. (2006). Marketing management. Cape Town, South Africa: Juta Dibb, S., Simkin, L. (1995). The market segmentation workbook: Target marketing for marketing managers. London: Routledge McDonald, M., Dunbar, I. (2013). Market segmentation: How to do it, how to profit from it. Chichester: John Wiley Sons. Wedel, M., Kamakura, W. A. (2000). Market Segmentation: Conceptual and Methodological Foundations. Boston, MA: Springer US.