Fair value vs. Historical cost Research Paper Example | Topics and Well Written Essays - 1000 words

Fair value vs. Historical cost - Research Paper Example (Pita and Gutierrez, 2006) Hence, the fair value of an asset or liability best estimates the market value of an asset or liability. The historical cost is defined as the original monetary value of an asset or liability. (Nikolai, Bazley and Jones, 2009) The accounting procedure that pertains to the use of the historical costs includes the use of the original prices of the assets and liabilities. (Plantin, Sapra and Shin, 2004)This means that the prices at which the assets are bought or sold, and the liabilities are incurred and settled are used in the historical costs method of accounting. Thus, it implies that the value changes (gains or losses) are not considered by companies when using historical costs until an exchange takes place. From 1973 to 2000, there has been an issuance of the International Accounting standards by the IASC. The IASC was replaced by the IASB in 2001 and since then has tried to replace some of the IASs to International Financial Reporting Standards. (IAS Plus: Summaries of IFRSs and IASs) IAS 40 is one example as it moves from the revaluation model to either the fair value or the cost model on the adoption of IFRS. According to IAS 40, investment property is defined as the property that is held by a person for the purpose of earnings rentals, capital appreciation or both. Under the fair value model, the investment property is the property that can be exchanged between willing and knowledgeable parties in an arm’s length transaction. Gains and the losses that occur in the fair value must be added or subtracted respectively from the net profits in the time period in which the changes take place. Under the cost model, however, the investment property is accounted for (as set out in IAS 16) by measuring cost less accumulated depreciation and less accumulated impairment losses. The Land Securities Group is

Analysis Of The Play Streetcar Named Desire Essay

Analysis Of The Play Streetcar Named Desire - Essay Example The play discusses how Blanche’s life was full of menaces. She had just been sacked from work and realized that her husband was a homosexual. Later on, in the play, Stanley raped Blanche, and this resulted in a nervous breakdown. The character of Blanche is based on Williams’ sister, Rose Williams, who had mental health issues (Williams 9). The main characters of the play are Blanche DuBois, Stella Kowalski, Stanley Kowalski, Harold â€Å"Mitch† Mitchell, and Eunice. Blanche DuBois is Stella’s older sister (Williams 3). DuBois was a high school English teacher. She is a fragile and loquacious woman around the age of 30. After the death of Reve and Belle, the DuBois family, Blanche goes to New Orleans to the Kowalski apartment and reveals that she is totally destitute. Stella Kowalski, on the other hand, is Blanche’s younger sister around the age of 25 (Williams 4). Stella has the same timeworn titled heritage as her sister DuBois. Stella is more poised with self-beauty and considers aging a curse (Williams 15). Stanley Kowalski is Stella’s husband. He is the epitome of a significant force. Stanley is loyal to his friends, adores his wife, and is cruel to Blanche. Harold Mitchell is Stanley’s army friend and poker buddy. Mitchell courted Blanche until he discovered she had lied about he r past, which made him leave. Finally, Eunice is Stella’s friend and also landlady. Eunice represents the lower class. A key theme that is dominant in the play is the relationship between sex and death. Blanche’s fear of death portrays itself in her fears of lost beauty and aging skin (Williams 12). Blanche refuses to appear in the harsh light, which reveals her real looks, and to tell anybody her true age. She appears to believe that through asserting her sexuality, particularly to men, she might be able to overcome death and revisit the  teenage life which she experienced before her husband’s suicide. According to Blanche, sex is the cause of death. Throughout the play, Blanche has memories of her ancestors who passed away due to the act (Williams 12).