Sunday, December 29, 2019

UNC Asheville Acceptance Rate, SAT/ACT Scores, GPA

The University of North Carolina Asheville is a public liberal arts college with an acceptance rate of 82%. As the designated  liberal arts college  of the University of North Carolina system, UNC Ashevilles focus is almost entirely on undergraduate education, so students can expect more interaction with the faculty than at many large state universities. In athletics, the UNC Asheville Bulldogs compete in the NCAA Division I  Big South Conference. Considering applying to UNC Asheville? Here are the admissions statistics you should know, including average SAT/ACT scores and GPAs of admitted students. Acceptance Rate During the 2017-18 admissions cycle, UNC Asheville had an acceptance rate of 82%. This means that for every 100 students who applied, 82 students were admitted, making UNC Ashevilles admissions process somewhat competitive. Admissions Statistics (2017-18) Number of Applicants 3,163 Percent Admitted 82% Percent Admitted Who Enrolled (Yield) 30% SAT Scores and Requirements UNC Asheville requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 65% of admitted students submitted SAT scores. SAT Range (Admitted Students) Section 25th Percentile 75th Percentile ERW 540 640 Math 520 610 ERW=Evidence-Based Reading and Writing This admissions data tells us that most of UNC Ashevilles admitted students fall within the top 35% nationally on the SAT. For the evidence-based reading and writing section, 50% of students admitted to UNC Asheville scored between 540 and 640, while 25% scored below 540 and 25% scored above 640. On the math section, 50% of admitted students scored between 520 and 610, while 25% scored below 520 and 25% scored above 610. Applicants with a composite SAT score of 1250 or higher will have particularly competitive chances at UNC Asheville. Requirements UNC Asheville does not require the SAT writing section. Note that UNCA participates in the scorechoice program, which means that the admissions office will consider your highest score from each individual section across all SAT test dates. ACT Scores and Requirements UNC Asheville requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 61% of admitted students submitted ACT scores. ACT Range (Admitted Students) Section 25th Percentile 75th Percentile English 21 28 Math 19 26 Composite 21 28 This admissions data tells us that most of UNC Ashevilles admitted students fall within the top 42% nationally on the ACT. The middle 50% of students admitted to UNC Asheville received a composite ACT score between 21 and 28, while 25% scored above 28 and 25% scored below 21. Requirements UNC Asheville does not require the ACT writing section. Unlike many universities, UNCA superscores ACT results; your highest subscores from multiple ACT sittings will be considered. GPA In 2018, the average high school GPA of UNC Ashevilles incoming freshmen class was 3.37, and over 60% of the class had GPAs of 3.25 and above. This information suggests that most successful applicants to UNC Asheville have primarily B grades. Self-Reported GPA/SAT/ACT Graph UNC Asheville Applicants Self-Reported GPA/SAT/ACT Graph. Data courtesy of Cappex. The admissions data in the graph is self-reported by applicants to University of North Carolina Asheville. GPAs are unweighted. Find out how you compare to accepted students, see the real-time graph, and calculate your chances of getting in  with a free Cappex account. Admissions Chances UNC Asheville, which accepts over three-quarters of applicants, has a somewhat selective admissions process. If your SAT/ACT scores and GPA fall within the schools average ranges, you have a strong chance of being accepted. Keep in mind, however, that UNC Asheville has a holistic admissions process involving other factors beyond your grades and test scores. A strong application essay and glowing letters of recommendation can strengthen your application, as can participation in meaningful extracurricular activities and a rigorous course schedule. Students with particularly compelling stories or achievements can still receive serious consideration even if their grades and test scores are outside UNC Ashevilles average range. In the graph above, the green and blue dots represent accepted students. As you can see, the majority of accepted students had a GPA of B or higher, an SAT score (ERWM) above 1100, and an ACT composite score of 23 or higher. Chances of admission improve with numbers above this lower range. If You Like UNC Asheville, You May Also Like These Schools Appalachian State UniversityNorth Carolina State UniversityElon UniversityWake Forest UniversityDuke UniversityHigh Point UniversityClemson UniversityFlorida State University All admissions data has been sourced from the National Center for Education Statistics and UNC Asheville Undergraduate Admissions Office.

Saturday, December 21, 2019

Mercantilism, Physiocrats Economic Liberal - 1185 Words

There were three systems that were proposed practiced in colonial America, mercantilism, physiocrats economic liberal. Mercantilism is a national a â€Å"unified monetary system and coinage, a national system of weighs and measure, elimination of internal tolls on roads and rivers, and a national system of taxes and tariffs†. It was brought about by a need to expand and to promote national economic growth. One of the first systematic economic theories with laws for both foreign and domestic trade, the government and the merchant both benefited from the same transaction. The physiocrats was the opposition of mercantilism, â€Å"regulation of trade and industry impeded economic development by hindering the flow of income and commodities on which the economy depended; and all taxes should be paid by landowners, as distinguished from farmers, partly because they were not productive and partly because their luxurious way of living distorted the flow of income†. Physiocrats believed that land was the most important way of economic stability, even manufactured goods were stemmed from â€Å"Nature† that this was the most efficient way of economic stability and even possible excess of supplies. Economic liberals supported market freedom and believed that individual prosperity was also beneficial to the whole society. David North stated in his book Discourses on Trade â€Å"people trade, he argued, because it is advantageous to both parties, promoted specialization, division of labor, and theShow MoreRelated An Analysis of The Dominate Perspectives of International Political Economy1532 Words   |  7 PagesFirst, I will give a historical account of how each perspective originated. Then I will outline the actors involved in each perspective, explore those actors’ interests, and outline which of those actors set economic and political policy. Lastly, I will explore how those political and economic actors relate to each other. History Among the three dominant perspectives, realist/mercantilist is the oldest and some would argue the most important and comprehensive theory . It was developed in Europe duringRead MoreEconomics Is The Study Of The Universe And How Everything1867 Words   |  8 Pageseconomists believe that economics is the study of the universe and how everything in it works. Since economics still has not answered the question of how to make the world perfect, there is no right way to run an economic system. This means everyone has different opinions of what the economy is and how it should be managed. The world can agree on one part of economics though. It is primarily based on money, jobs, production, and consumption. International political economics also has a great dealRead MoreEconomics : The Economic Thought Schools2009 Words   |  9 PagesThe Economic Thought Schools: From the Beginning to the Present Some economists believe that economics is the study of the universe and how everything in it works. Since economics still has not answered the question of how to make the world perfect, there is no right way to run an economic system. This means everyone has different opinions of what the economy is and how it should be managed. The world can agree on one part of economics though. It is primarily based on money, jobs, production, andRead MoreThe Rise Of Classical Economics1713 Words   |  7 Pagesseventeenth and eighteenth centuries, mercantilism was at the forefront of economic thought. This economic theory advocated a surplus of exports to increase the amount of money held by a nation. Mercantilism also called for a large poor population, strict government regulations and high tariffs on imported goods. These type of policies fueled anti-trade results and international conflicts, catapulting thinkers like Adam Smith, Thomas Malthus and David Ricardo onto the economic scene. These new, progressiveRead MoreCauses of the French Revolution3450 Words   |  14 Pagescauses, we will also define intellectual, political and economic causes. Long-Term Intellectual Causes Before a movement can reach the proportions of an actual revolution, it requires a body of ideas that provides a programme of action and a vision of the new order to be achieved. The intellectual causes of the French Revolution are a direct result of the Enlightenment. This movement produced two interesting political theories: the liberal theory of Locke, Voltaire and Montesquieu and the democraticRead MoreThe Main Theoretical Weaknesses of Mercantilism8168 Words   |  33 Pagesï » ¿What are the main theoretical weaknesses of Mercantilism? Mercantilism is a theory that basically just defends a mother countrys regulation over its societies. This power has both different gains and disadvantages. The property that rules the settlements can become much better-off and more controlling a great deal more speedily. Nevertheless, the settlements can feel like they are being taken advantage of and start rebelling; maybe even start their own country. The Navigation Laws were EnglandsRead MoreThe Ecological Kuznets Bend ( Ekc )6381 Words   |  26 Pagesof its economy, and additionally on the practices and changes that have functioned admirably in different nations. A mixed economy is an economic system that is differently characterized as containing a mixture of business sectors and financial arranging, in which both the private and state sectors coordinate the economy or as a blend of free markets with economic policy perspective. Most blended economies can be explained as business economies with strong administrative oversight and legislative provisionsRead MoreThe Impact of Agricultural Sector on Economic Growth in Nigeria18675 Words   |  75 PagesAgricultural Economics of Nigeria: Paradoxes and Crossroads of Multimodal Nature Professor Eric C. Eboh Professor of Agricultural Economics University of Nigeria CONTENTS 1.0 ACKNOWLEDGEMENT 2 2.0 CONCEPTUAL APPROACH OF THIS INAUGURAL LECTURE 6 REFLECTIONS ON THE STRATEGIC ROLE OF AGRICULTURAL ECONOMY 8 3.0 4.0 5.0 AGRICULTURE FROM THE LOOKING GLASS OF MAN’S ECONOMIC HISTORY 16 AGRICULTURAL ECONOMY FROM PARADIGMATIC VIEWPOINTS ABOUT THE STATE VIS-A-VIS MARKET 21 6.0 NIGERIAN AGRICULTURE

Thursday, December 12, 2019

Financial Accounting and Financial Reports Sample for Students

Questions: 1.Identify in the Financial Statements, the notes to the Financial Statements, and the Statements of significant Accounting Policies those parts that relate to property, plant and Equipment. 2.In addition to goodwill, what are the categories of Intangible Assets of this Organisation? How are they recognized and measured? How were their useful lives estimated? 3.Where do Provisions appear in the Statement of Financial Position? What are the Accounting Policies with respect to long service leave? 4.What are Contingent Liabilities and how can they arise? Making reference to the Accounting Standards, how are Contingent liabilities recognized and what are the disclosure policies? 5.Using the Financial Statements Calculate, and Comment on, the following ratios: Current ratio, rate of return on total assets, times interest earned, the debt ratio and the P/E ratio. Answers: 1.Its a requirement according to ASSB 116(2014) to recognize tangible assets i.e. PPE in financial reports as shown in Flight Centre balance sheet illustrated in note F4 whereby they are recognized by net book values of $216,239,000 for 2016 and $196,300,000 respectively. Recognition of PPE cost is only accounted for if the future benefits relating to the item flow to the entity as well as its measurability concept set in place as per ASSB 116.7(2014), Flight Centre being a travelling servicing industry the need for PPE as a pivotal commercial engine for its revenue generation though indirectly as illustrated in page 39 of the FLT FY16 Annual Report and especially from Top Dec and Back Roads via use of freehold land and buildings as well as plant and equipment. According to ASSB 116(2014) assets are recognized after deduction of accumulated depreciation and amortization depicted in Flight Centre PPE schedule page 41 of the FLT FY16 Annual Report subject to note 2. ASSB 116.6(2014) states that the cost of acquisition or purchase consideration in relation to the share-based payment of an asset is the cash or its equivalent paid as well as other consideration paid for the acquisition. The cost of acquisition mostly relates to the amount attributing to the asset acquired. The purchase consideration made of $338,000 for the PPE acquired and recognized in SUs after controlling 100% interest, BYO jet and that of TDTS of PPE valued at $981,000 during business combinations see note A6(iv) of the FLT FY16 Annual Report clearly explains ASSB 116.6(2014 )on purchase consideration. ASSB 116.25a, b, c(2014) instructs on how to handle asset specific value through consideration of transaction costs and foreign exchange rates risk evaluation. The value that relates to exchange rate should be accounted for as post tax in the cash flow statement. Flight Centre has ensured that the latter regulation on exchange rate value is taken into consideration in the cash flow statement as effects of exchange rate changes (page 40 88 of the FLT FY16 Annual Report) as well as in the balance sheet as exchange differences in note F4. ASSB 116.27(2014) states that the cost of an item of PPE in our case rental is determined by in accordance with ASSB 117(2014) as illustrated in the profit and loss statement on rental expense relating to the operating lease as shown in note F1. After recognition of assets is done at cost (Eckstein, 2004) as it is recommended in ASSB 116.15(2014) and seconded by Flight Centre in note F4, further measurement of recognition instructed by ASSB 116.30(2014) upon charging accumulated depreciation and impairment of losses is done. Flight Centres balance sheet clearly shows how accumulated depreciation is accounted in note F4 for years 2014, 2015 and 2016 e.g impairment of plant and equipment is accounted in the profit or loss statement as illustrated in note A5. Depreciation of PPE should reflect in the profit and loss account as recommended in ASSB 116.48(2014) and should appear as an expense as shown in note B7 and in the profit and loss account. ASSB 116.50(2014) further requires systematic allocation of depreciation over its useful life this has been done using straight-line method over the useful life of 2-8yrs see note F4 (page 87 of the FLT FY16 Annual Report). The service/utility expected from an asset determines its usefulness life basing on the judgment made with similar assets as per ASSB 116.57(2014).At the point of disposal, the depreciation halts at the earlier date the asset is held for sale according to ASSB 116.55(2014) whose applicability is illustrated in Flight Centre reports note F4 on disposal of $2,209,000 of Plant and Equipment as well as its respective depreciation expense of $45,476,000.DE recognition is applicable mostly to a disposal of an asset or upon when no future benefit is expected from an asset according to ASSB 116.67, a and b(2014. Flight Centre has derecognized its asset through disposal note F4. ASSB 116.68A(2014) clearly illustrates on gain or loss on disposal of PPE and the treatment of proceeds in financial statements as explained in Flight Centre notes A3/F4. Disclosure of how net book value was arrived to, depreciation methods used, rates and economical life, gross carrying amount at the start and end of financial year as well as its reconciliation is a requirement by ASSB 116.73a, b, c, d, and e(2014). Flight Centre (page 41 of the FLT FY16 Annual Report) explains on how NBV was settled to, note F4 (page 87 of the FLT FY16 Annual Report) explains on the economic life, the method of depreciating, gross carrying amount and depreciating periods 1st July 2014,1st July 2015 and as at 30th June 2022.Notes A1, A5, and F4 of the Financial Reports explain on reconciliation. According to (Hegh-Krohn,2000) and ASSB 136(2014) on impairment of assets in our0 case PPE, basically applies to reporting done after January 2005 according to AASB 136.1(2014) whereby Flight Centre reports for 2014, 2015 and 2016 conquer with the standard. ASSB 116.58)2014 clearly illustrates on how to measure and recognize impairment whereby if the recoverable amount is less than the carrying amount the difference is the impairment loss. Impairment is done using straight-line method over projects future benefits with the economic life of between 2.5 and 5 years. Impairment of the intangible asset relating to PPE in Flight Centre basically followed the AASB 136 fully from recognition to measurability. 2.Intangible assets are classified as those assets that arent physically seen nor touched (with no physical state of nature) the following are the intangible assets of Flight Centre; Brand names, customer relationships, other intangible assets (those that relate to software), internally generated intangible assets, market share/rights An intangible asset is recognized when the assets themselves are able to defend their non- physically state of nature. Asset identification is another criterion of recognition (Lhaopadchan, 2010) whereby the asset is separable from the entity and can stand for itself during the sale, lease, rent, disposal among others. It should also result from legal rights set in place governing the latter whether inherited, transferred, contracted hence ownership. Full/partial control of an asset gives recognition to the asset such that any benefit befalling the asset is restricted to an entity in ownership of the intangible asset to avoid access to the benefits by none beneficiaries. Cost measurability and future economic benefit resulting from the intangible or activities originating from are factored in recognition. Recognition is attained if;(a)Cost measurement where the need for reliability in an individual cost/fair value measurement of an asset with certainty by ensuring respective costs relating to the assets are traceable and allocated accordingly is recommended refer, (Mackenzie,2014).(b) Provision of future economic benefits to the firm by the assets activities hence enhancing recognition through analyzing reasonable supported assumptions made by the management within both internal and external conditions along the activities of the firm under the use of intangible assets and what the assets proofs best to contribute to the objective and future economic benefits of the firm. Intangible assets are measured at cost and further subjected to amortization along the economically useful life set in place or measured through revaluation method. Initial cost mostly is subjected to amortization and hence reduction in its future life time performance/end result. Amortization is mostly done in systematic manner basing it over the useful lives. If the asset has an indefinite time the intangible asset will not be subjected to amortization. The overall duration an asset is expected to be in operation or of help to the entity is known as useful life. Mostly engineering estimate, as well as previous/past experience with the same or similar asset, stand as the technique mostly used to give useful economic life. Whereby by use of past experience of the intangible assets and its future benefits Flight Centre Travel has used this to determine the useful to be between 2.5-5yrs, with customer relationship not exceeding the useful life of 7yrs see note A5 (page 51of the FLT FY16 Annual Report. Since impairment only occurs when the fair value and carrying amount values arent recoverable or fall below the net book value, asset identification stands as the first policy where the need to identify the asset to impair stands, evaluate fair value and carrying cost under time value of money for purposes of finding whether there is impairment loss and if yes its disclose in the financial statements and later on reverse the impairment loss if need be. 3.Provision appear on the balance sheet as both current and non-current liability depending on the duration of the set allocation. It is illustrated in note F7 (page 41of the FLT FY16 Annual Report). According to ASSB 119.1a, b (2011) employee long service leave benefits (Burges, 2000) clearly define the need to disclose benefits accorded to employees. ASSB 119.153a(2011)defines the duration to which benefits settlement should be done whereby it requires leave to have it settlement not done wholly before 12months as implemented in note F7 and Q II, further emphasize on the abstentious paid days benefit plus allowances to relating to the same. ASSB 119.156(2011) defines measurement and recognition whereby the need to recognize the net total of the profit or loss unless other activities like service charges are consolidated. Its a requirement of ASSB 124(2013) ASSB 101(2012) to disclose of benefits for management welfare purposes and for employee benefit expense respectively unlike what is required by ASSB 119.140ii(2013) explain that a firm shall provide reconciliation from opening balance to the closing balance for the benefits of leave day to be paid as illustrated in note F4. According to AASB 110.12(2010) dividends declared before reporting by the shareholders are said to be recognized therefore appearing as the liability in balance sheet while those declared after reporting date are termed as dividends not recognized and therefore cease to be a liability and instead classified as a provision under AASB 137(2014).Flight Centre illustrates this in note H3(page 101 of the FLT FY16 Annual Report) where the directors declared the dividends on 25th Aug 2016 two months after June 2016 annual reports released hence transaction that has taken place after the end of reporting period. 4.The contingent is the possible obligation that may occur entirely depending on the uncertainties future outcome, (Kenned, 1998). Its until the outcome is seen that contingent can be realized as an actual liability. They dont appear as a liability in the financial statements but they captured as a footnote to the balance sheet (Cebotari, 2008). According to ASSB 137(2014), recognition of the contingent liability of an entity is never achieved and its recording mostly is done in journal form. An overview of the nature of the contingent liability description its disclosure at the end of the period as required by ASSB 137.86(2014) states that the disclosure of the possible settlement estimates, financial effects, uncertainties as well as timing indication and possible reimbursement from provisions should be done at the end of the reporting period. Note H2 (page 101of the FLT FY16 Annual Report) gives examples of contingencies like the ACCC Competition Law Test Case whose disclosure is made at the end of the financial year. The case clearly creates uncertainties as to when it will end whereas there is litigation fee incurred day in day out with subsequent appeals. No surety or time frame as to when the case will end. Contingent assets involve unplanned/unexpected activities resulting to probable economic benefit, e.g. Legal suit whereby nobody is certain over its outcome as illustrated in ASSB 137.33(2014). According to ASSB 137(2011) outlines the need to disclosure through economic benefit realization upon its possibility. Disclosure entirely depends on inflow benefit economically hence need to assess contingencies outcome so as to be at par with disclosure as guided by ASSB 137.89(2014). 5.Current Ratio analysis firms capability of paying short and long term debts. Current Ratio =Current Assets/Current Liabilities Yr. 2016 =2263233000/1566724000=1.44 Yr. 2015=2,152,700, 000/ 1,452,500,000=1.48 1.44 1.48 seem to be close to 1.5 the average value hence the firm is slightly financially able in paying its debt for 2016 2015. Rate of Return on Total Assets is earnings before interest and taxes against its total net assets, used to indicator effectiveness of assets against income generation, (Nosism, (2001) ROTA=EBIT/ (TOTAL ASSETS-TOTAL LIABILITIES) Net Asset 2016= 1345945000, EBIT 2016=345043000 ROTA=345043000/1345945000 =0.256 Net Asset 2015= 1,270,121,000, EBIT 2015=366,297,000 ROTA=366297000/1270121000=0.288 Hence assets utilized 25.6% 28.8% in generation of income 2016 and 2015 respectively Times Interest Earned measures company ability to pay debts payments=EBIT/Interest Payable TIE 2016=345043000/100,487,000=3.433 TIE 2015=366,297,000/109,744,000=3.34 Hence in 2016 Flight Travel was highly able to pay debt than 2015 Debt Ratio=Total Liabilities/Total Assets 2015= 1,517,845,000/2,787,966,000=0.544, 2016=1,655,371,000/ 3,001,316,000=0.551 Hence in 2016 Flight Travel had better financial position than in 2015, (Ohlson, 1980) Price Earning Ration=PES/EPS (net income/number of shares) =31.58/242.4=0.13 Essentially investors are willing to pay $0.13 for every dollar of earnings that Flight Travel Group has. References AASB, A.S., 2004. "Presentation of Financial Statements." Balance Sheet, vol. 68, p.73. Barker, R.G., 1999. "Survey and Market?based Evidence of Industry?dependence in Analysts Preferences between the Dividend Yield and Price?earnings Ratio Valuation Models." Journal of Business Finance Accounting, vol.26. no.3?4, pp.393-418. Board, A.P., 1970. "Intangible assets." Opinions of the Accounting Principles Board, vol.17. Board, M.A.S. Standard, R., 2000. Property, plant and equipment. Bragg, S.M., 2011. "Property, Plant, and Equipment. The Controller's Function." The Work of the Managerial Accountant, Fourth Edition, pp.251-270. Burgess, J., Sullivan, A. Strachan, G., 2002. "Long service leave in Australia: rationale, application and policy issues. Labor Industry." Journal of the social and economic relations of work, Vol.13, no.1, pp.21-38. Cebotari, A., 2008. Contingent liabilities: issues and practice (No. 8-245). International Monetary Fund. Eckstein, C., 2004. "The measurement and recognition of intangible assets: then and now." Accounting Forum, vol. 28, no. 2, pp. 139-158). Herrmann, D., Saudagaran, S.M. Thomas, W.B., 2006. "The quality of fair value measures for property, plant, and equipment." Accounting Forum, vol. 30, no.1, pp. 43-59) Hegh-Krohn, N.E.J. Knivsfl, K.H., 2000. "Accounting for Intangible Assets in Scandinavia, the UK, the US, and by the IASC: Challenges and a Solution." The International Journal of Accounting, vol.35, no.2, pp.243-265. Kennedy, J., Mitchell, T. Sefcik, S.E., 1998. "Disclosure of contingent environmental liabilities: some unintended consequences?" Journal of Accounting Research, vol.36, no.2, pp.257-277. Krever, R., 1986. "Companies, Shareholders and Capital Gains Taxation." Austl. Tax F., vol.3, p.267. Lev, B., 2000. Intangibles: Management, measurement, and reporting. Brookings Institution Press. Lhaopadchan, S., 2010. "Fair value accounting and intangible assets: Goodwill impairment and managerial choice." Journal of Financial Regulation and Compliance, vol. 18,no.2, pp.120-130. Mackenzie, B., Njikizana, T., Coetsee, D., Chamboko, R., Colyvas, B., Hanekom, B. Selbst, E., 2014. "Property, Plant and Equipment." Interpretation and Application of International Financial Reporting Standards, pp.147-182. Nissim, D. Penman, S.H., 2001. "Ratio analysis and equity valuation: From research to practice." Review of accounting studies, vol.6,no.1, pp.109-154. Ohlson, J.A., 1980. "Financial ratios and the probabilistic prediction of bankruptcy." Journal of Accounting Research, pp.109-131. Penman, S.H. Penman, S.H., 2007. Financial statement analysis and security valuation (p. 476). New York: McGraw-Hill.