The Beach Descriptive Essay - 916 Words

A dark lane, dark towers and a pitch gloomy sun passed by me as I followed my path beneath a cloak of darkness. As I walked down Grey Street, I outstretched for that recognisable wall but didn’t find anything to guide me further. Through walls, through windows, perhaps right beside me I was exposed to expressions reverberating in puzzlement. As I carefully strolled down the lane, I know you sympathised me. Your glorious gift allowed me to see the elegant and vibrant horizon, disperse into a brilliant mixture of colours alongside the glimmering crystal. As the unforgiving light exposed the world’s paleness and blemishes, I know you had the gift of seeing the specks of sand flicker above the ground, For I was trapped in darkness.†¦show more content†¦In my frantic surge to escape from my nightmare, I grasped my lantern and tossed it across the ground. I felt no remorse as I heard it smash into tiny fragments along the grey tiles. What good was a lantern when light failed to exist? My mother swept the pieces to the side of the household and sat by my side As I glance upon her face filled with emotion, nothing but darkness watched down on me. It was a silent reminder that I would never see her expression again; that I would never see her giggle at times of pure joy. At that moment my entire body filled with a gony. When I asked her if all had been lost, I heard a calm yawn as she drew me into her arms. She told me that there is no light without darkness, that my ability to choose my answer; to alter my decisions in an unchanged situation will never be taken from me. She voiced that this world could be sculpture for my thoughts and inspiration. One autumn morning, A minor echo in the distance awakened me. A bleak thin gust of wind swept past my face roaring and rattling along the housetops, as fragrances of peach and jasmine overpowered my nostrils. The vague echo became a vibration as I felt it come closer and closer like the grumble of a hurrying cavalry. The gusty winds sent leaves lightly trembling down onto the ground, making no sound effects. Branches intertwined in and out of each other as if they were in there own private dance. For a second, the world became inactiveShow MoreRelatedDescriptive Essay : The Beach 975 Words   |  4 Pagesjust had to say yes. I mean, the beach is a great spot on a busy day, and I knew she had a few more spots out on the water. She’d said once that she found her necklaces underwater, and how she sometimes got tangled up in nets or shot at by jealous corporate scrap-pickers. She had this little boat that she’d take out. She said we could go out together. I didn’t know a lick about diving, but she didn’t need to know that. I met her on the sandy part of the beach, when there was just enough drizzleRead MoreDescriptive Essay About Beach1158 Words   |  5 Pagesthe house looked over the enclosed porch, over the sea wall, and onto the beach. Entranced by the lull of crashing waves, I would become memorized at the immensity of it all. I was never afraid of the ocean. As a child, my sister and I would long spend hours out on the beach in front of our house. We would build gigantic sand castles, collect seashells, and gleefully run into the water with all our clothes on. The the beach, and by extension, the ocean was always a safe haven for me. It providedRead MoreDescriptive Essay : Beach Bums913 Words   |  4 PagesBeach Bums Our designated driver is on the floor. With a mouthful of sharp beach sand in his mouth, he stays down and screams â€Å"Darn!† Disoriented and dehydrated I look to the top and I see my partners in crime, yelling at the top of their lungs from the roof of sun beaten lifeguard tower, â€Å"Throw some beer in his mouth!† With smile football stadiums wide I look down at my bare skin. Covered only by boxers, soaked by the oceans bitter cold waters, there I was; tears running down my cheeks freezingRead MoreDescriptive Essay About Beach838 Words   |  4 Pages The Beach You have been in the car for a very long three days. You have sat in a line of cars 10 miles long. You have endured your annoying siblings, stressed out parents and the cramped space of the car. You have eaten junk food and soda for days. Your legs are screaming to move, you think you will never arrive. You have heard rumors about the beach. Sand so white it sparkles, water crystal clear, ships the size of buildings, and hotel rooms the sizes of houses. You finally start to see theRead MoreDaytona Beach Descriptive Essay1761 Words   |  8 PagesDaytona Beach On the morning of June 17, 2016, I woke up with a smile on my face like it was Christmas morning. I launched myself out of bed to take a quick shower before I was to meet my friends to leave for Daytona Florida. We planned this trip months ahead of time when we found out there was a truck meet on the weekend of June 18th and 19th. The truck meet we went to was where anyone who owned a pickup truck could come down to Daytona Florida and drive on the beach to get to mingle and entertainRead MoreDescriptive Essay About Beach1223 Words   |  5 PagesIt was a cool breezy day at Waikiki Beach on a Saturday afternoon. The sky was painted blue filled with clouds and the sun shining through. As I walked onto the sand I can feel my bare feet get burned by the heat of the sun. I jog to find a spot on the beach where no one else is around. Once I find my spot I slip into my wetsuit and my body gets sucked into it as I zip it up. Then I pull my long, tangled hair into a ponytail to get it ou t of my face as the wind blows it. Once I’m ready to go inRead MoreDescriptive Essay : Myrtle Beach1447 Words   |  6 Pages Myrtle Beach! I was so excited for the trip and couldn’t wait to put my foot in the blue, cold, salt water. After the like 15 hour drive we had just suffered through I was expecting a pretty great trip. We drove down the road and saw all of the familiar places like the Tanger mall, surf shops, Krispy Kreme, and even more of our favorite restaurants. I started to recognize the details that just seemed to tell us we made it to our destination. Like the palm trees, warm weather, beach smell, andRead MoreMyrtle Beach Descriptive Story Essay1406 Words   |  6 Pagesyou wanna know where we are going on vacation?† my dad asked, thinking I was going to jump out of my seat. â€Å"Yeah, where?† I answered anxiously. â€Å"Do you wanna take a guess?† he questioned. â€Å"Uh,†I replied, â€Å"Arizona?† â€Å"Nope.† â€Å"Then where?† â€Å"Myrtle Beach!† Months later, we arrived at the airport at around 11:30am on Sunday, and our flight was supposed to take off at 2pm. But we were told that there was a fifteen minute delay and we weren t too bothered. Fifteen minutes later, they pushed the flightRead MoreDescriptive Essay About Orange Beach1686 Words   |  7 PagesThe Fun and Horrific Orange Beach Trip My friends and I had taken a weekend trip to Orange Beach. We decided to stay in a condo for the entire weekend. The day that we were going to Orange Beach my friend Hasan was graduating from Madison Central High School in 2015, and he was getting his parents to drive him to Orange Beach so that he could hang out with us for the weekend. We did multiple events such as driving down to Orange Beach and back home, going to the beach, biking, waiting for dinnerRead MoreDescriptive Essay About Cocoa Beach1683 Words   |  7 Pagesand lemon-lime mixture with an oversized spoon. Just by looking at the sky, I felt as if I could almost taste these flavors in my mouth, which gave me a strange satisfaction. A gust of warm air abruptly interrupted my daydream to welcome me to Cocoa Beach properly. These engulfing winds danced all around me before hugging my body completely and knocking me off-balance. All around me, I could see multiple different scenes: couples lying next to each other excha nging loving gazes, children building sand

Present Obligation on Part of Company Because Of Some past Events

Question: What Present Obligation on Part of Company Because Of Some Past Events? Answer: Introduction The overall objective of this standard is to make sure that appropriate recognition of the contingent assets and liabilities is made as per the relevant details of this standard. It provides the basis that must be applied for effective disclosure based on the nature timing and extent of the overall contingent assets and liabilities. The standard is to be applied on all the entities, in accounting for the contingent assets and liabilities, but is not applicable on onerous contracts and also those areas that are covered by other standards. This standard was issued on July 2004. And it is applied retrospectively on all the companies under this act. Every company needs to follow the same in the preparation and presentation of their financial statements. Now there have been changes in the same, and the effective standard is applicable on the companies from January 2018. Previously it was applicable from July 2014. (actuaries.asn.au, 2017) Part three As per the relevant accounting standard, a provision shall be recognised if it satisfies the following condition- There is a present obligation on part of the company because of some past events. It is ascertained that there will be a flow of income to satisfy the obligations that will arise due to past events in the future. It is possible to make a reliable estimate of the amount that will be needed. In cases where it is not apparent that a present obligation is there, a past obligation will be considered to give rise to the present obligation, and all the relevant evidences will be taken to ascertain whether such past event gives rise to such present obligation. In most of the cases there will be evidences that proves that a past action is giving rise to a present obligation , however where the company is not sure of any such event , it will look for such evidences that proves that certain present obligation would be present at the end of the accounting period. Where is more or less sure that a present obligation will be there at the end of the accounting period, the company will recognise such obligation. Where the entity is not sure whether the present obligation would be there or not, the entity will recognise the same as a remote liability, where the entity is sure that there will no outflow of resources in the future in respect of the same. It is only those past actions tha t are caused by the entity action s, on which any present obligation will be recognised,. It is imperative that the present obligation must be due to some other party that means that there must be some flow of resources. Sometimes an event may not give rise to a present obligation immediately but may cause the same at some later date in the future, for example in case of law suits, where change in any law or amendment may lead to rise of obligation on part of the company. It gives rise to a constructive event. Where any law is in drafting stage, then any obligation because of the same can be considered only when it is sure that the required law will be made live. There must be an outflow of resources for any obligation to be recognised as present obligation. Where there many cases of same type of obligation, outflow of resources in case of the same shall be determined on the basis of class of obligation. The overall estimation is an important part of any financial statements and it does not undermine their reliability. The nature of any estimate matter more than the overall form. (Cpaaustralia.com.au, 2017) Reviewing the balance sheet of an Australian company , Infosys Technologies (Australia) Pty Limited. After reviewing the balance sheet of the company for the current year, we find that the company has made an estimation for the contingent assets and liabilities, and shown a disclosure for the same as per the relevant accounting standard. The total amount of contingent liabilities recorded by the company were 29 core as compared to the last year 22 core. As per the latest audited balance sheet of the company Claims against the company not acknowledged as debts include demand from the Indian Income tax authorities for payment of tax of ` 3,337 core ( ` 1,548 core) (infosys.com, 2017) It also included interest of ` 964 core ( ` 430 core) were paid to statutory tax authorities which includes ` 1,788 core paid during the year ended March 31, 2015 consequent to demand from tax authorities in India for fiscal 2010 towards rejection of certain tax benefits. (infosys.com, 2017) Conclusion Hence we see that how important it is very company to make an estimate of the past and the present obligation and to record the contingent assets ND liabilities accordingly. It is done so that in future when the company has to pay certain obligations because of pasta actions , the company must have the required amount of fund for the same. This standards was developed to help the auditors to provide a correct view on the financial position of the company ,a ND also to the end users of the financial report References Jade.io. (2017). Barnet Jade - Find recent Australian legal decisions, judgments, case summaries for legal professionals (Judgments And Decisions Enhanced). [online] Available at: https://jade.io/j/?a=outlineid=500086 [Accessed 23 May 2017]. infosys.com. (2017). financial statements. [online] Available at: https://www.infosys.com/investors/reports-filings/quarterly-results/2015-2016/q4/Documents/standalone/SA-FY16-Q4-Finstatement.pdf [Accessed 23 May 2017]. Cpaaustralia.com.au. (2017). Cite a Website - Cite This For Me. [online] Available at: https://www.cpaaustralia.com.au/~/media/corporate/allfiles/document/professional-resources/reporting/reporting-ifrsfactsheet-provisions-contingent-liabilities-and-contingent-assets.pdf?la=en [Accessed 23 May 2017]. actuaries.asn.au. (2017). Provisionforselfinsuredliabilities1. [online] Available at: https://www.actuaries.asn.au/library/standards/Provisionforselfinsuredliabilities1.pdf [Accessed 23 May 2017]. AS, A.S., 2004. Provisions, Contingent Liabilities and Contingent Assets.MEASUREMENT,35, p.45. AASB, A.S., 2004. Presentation of Financial Statements.Balance Sheet,68, p.73.