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Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies
Info: 9039 words (36 pages) Dissertation
Published: 9th Dec 2019
Tagged: AccountingReal Estate
The Impact of New Accounting Standards for Leases and Revenue Recognition on the Real Estate Strategy of Listed Banking Companies
Introduction 3
Literature review 5
Methods 14
Conclusion and Discussion 27
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued their new lease accounting standard in 2016, the clock began ticking on a general arrangement of changes that organizations will need to execute in the following two years. The analysis will evaluation of the impact of the new standards and the future changes in the lease and revenue recognition. Be that as it may, the alterations will be required past the accounting department on the grounds that the new principles will affect any office that arrangements with leases—including obtainment and corporate land—and for all intents and purposes the good part of the frameworks and procedures that organizations use in dealing with their lease information. This paper will give detail information about the impact of new accounting standards for the real estate strategies of listed banking firms. This thesis will focus on the how new accounting standards change buying back leased assets and replacing them by companies or management agreements. This article will focus on how the standard defines and specifies a contract as a lease or containing a lease, and how the respective parties classify their lease transactions, providing examples of how the standard will affect their accounting. By examples having good understanding where and how the standards impact has been changed in the real estate companies. This thesis provides an industry level comparison for investors. By applying positive accounting theory and quantitative methods, which gives better understanding as well.
Leasing is defined as a method for giving access to finance and might be characterized as an agreement between two parties wherein one person (the lessor) gives an asset for use to another person (the tenant) for a specified timeframe as a result of determined payments. Leasing, as a result, isolates the lawful responsibility for resource from the financial utilization of that asset. Leasing is a term of financial instrument for the obtainment of machinery, equipment, vehicles as well as properties. On a very basic level, it is asset-based financing with the asset giving the security for the financing. Leasing organizations (lessors)— regardless of whether banks, leasing organizations, insurance agencies, equipment makers or providers, or nonbank financial organizations—buy the equipment that has normally been chosen by the resident, and afterward permit the resident utilization of that equipment for a selected timeframe. For the length of the lease, the resident makes intermittent payments to the lessor, at an agreed rate of interest and in a concurred cash. At the finish of the lease time frame, the ownership (title) in the equipment is transaction to the tenant at a leftover value, or the equipment is returned to the lessor, which may then sell it to an outsider or then again announce it useless and outdated.
Revenue is recognized just when a particular basic occasion has happened and the measure of revenue is quantifiable. Notwithstanding, there are a few circumstances in which special cases may apply. Revenue is at the core of business accomplishment. Everything relies on the deal. All things considered, controllers know how enticing it is for organizations to push the cutoff points on what qualifies as revenue, particularly when not all revenue is gathered when the work is being finished. Development directors regularly charge customers on a level of-consummation strategy. Thus, investigators jump at the chance to realize that revenue recognition arrangements for an organization are generally standard for the business. This additionally guarantees consistent correlation is being made between measurements utilizing details from the income statement.
In 2016, FASB distributed a new lease standard that speaks to an entire upgrade of financial reporting around that department. The new standard ends up powerful for open new businesses, certain not-for-benefits, and certain representative advantage gets ready for yearly periods starting after 2018, and for every single other element, yearly periods starting after 2019. The standard gives a long progress period; nonetheless, it expects elements to take after an altered review approach, under which the required changes would apply to leases existing toward the start of the most punctual relative time frame introduced in the money related proclamations of the year the new standard is received.
This study explores the impact of the new accounting standards for leases and revenue recognition on the real estate strategy of listed banking agencies. The new standards require continuous assessment of leases to decide when an occasion happens that may change the acknowledgment or estimation of the lease, for example, an adjustment in the lease term or an alteration to a current understanding. In a few cases, these developments will oblige a substance to recognize changes that are fundamentally alterations of a current lease and those that constitute new lease arrangement demanding separate accounting. Among the additionally difficult parts of the new standard are prerequisites that the gatherings isolate lease segments inside an agreement and recognize and isolate non-lease segments. The standard is packed with cases of how the gatherings may make such judgments (Singer, Pfaff, Winiarski, & Winiarski, 2017).
In spite of the fact that accounting leasing arrangements under the new standard for the lessor won't be substantively not quite the same as existing models, a lessor's acknowledgment of offering benefit and revenue from lease transactions must fit in with a piece of Topic 606 in regards to revenue recognition; if control isn't transaction, the lessor won't be permitted to perceive offering benefit forthright (Singer, Pfaff, Winiarski, & Winiarski, 2017). The standard gives various functional catalysts that will enable gatherings to stay away from a portion of the all the more difficult regions of usage. However, the issues identified with new revenue recognition standards which apply to establishment and management understandings are not considered.
Corporate acknowledgement about the evaluated effect of new accounting standards and the acknowledgement of future system are looked at, by methods for content examination, to discover an answer to the question: What is the merged impact of new accounting principles for leases and revenue recognition on the real estate strategies of listed banking organizations?
Lease classification will still have significance for earnings: Operating lease expense will be straight-line, while for finance leases, it's more front-loaded and shown as interest and amortization expense. This difference in treatment might be outweighed by traditional business factors — financing cost, risks and rewards of ownership, new technology, etc. — which will now determine whether companies opt for an operating lease or finance lease, or conventional purchase. Acquiring long-term assets will now focus on business benefit instead of accounting advantage.
As a result of research, it can be guessed that this point of view has not been included so far in former research. The supposed of the two measures on leases and revenue recognition becomes a knowledge of the difficulties of the new standards merged. Most examinations inside positive accounting hypothesis apply quantitative measures and spotlight on gatherings. The strategy for investigate on operating lease in such examinations depends on valuable capitalization. As opposed to that, a subjective and somewhat interpretive approach is connected in this thesis. Content examination goes past valuable capitalization.
Under existing direction, leases are audited on a lease by-lease premise to decide if the risk and rewards of the leasing development and the utilization of the benefits incorporated into the lease changed hands as a major part of agreement. As of now, the standards are: If the risk and rewards were transaction, the lease would be characterized as capital lease and assets and related liabilities would be accounted for on the balance sheet of the resident. On the off chance that the risk and rewards were not transaction, the lease is characterized as an operating lease – and all costs identified with the lease seem just on the tenant's income statement.
From an accounting standard, unless leases incorporated certain things such as bargain purchase in other words, purchase the asset below existing business rates—or different words, currently characterized as operating leases. For example, a few airlines opted to lease planes rather than owning them inside and out. Even though these aircrafts utilized their leased planes all the time, they were characterized as operating leases, which means the utilization of the assets and related liabilities were not considered on their balance sheet. Subsequently, the investor of the related financial statement was not getting a full snapshot of the expenses acquired by these substances in maintaining their organizations.
The improvements in real estate in the banking business are clarified and factors impacting the real estate description are inspected. From now on the updates of accounting for leases and contracts with clients are explained and the literature review on the implications of the strategy is reviewed into in chapter 2. Chapter 3 will give research questions academic style and the substance of the new standards in accounting. Chapter 4 having detailed information about methods. The results are described in chapter 5. At last the conclusion gathers together this thesis in chapter 6.
2.1 Factors influencing Real Estate Strategy
There are four key factors influencing real estate strategy market. Demographics, interest rates, economy, and government policies. First, factors influencing real estate strategy is demographics. Location are the information that portrays the organization of a population, for example, age, race, sex, pay, migration patterns and population growth. These measurements are a regularly ignored however huge factor that influences how real estate is valued and what categories of properties are preferred. Major shifts in the demographics of a country can large affect real estate patterns for quite a few years.
Second, important factors influencing real estate strategy is interest rates. In case someone thinking about purchasing a home with a home loan it is useful to examine financing costs utilizing a mortgage calculator. Changes in loan costs can extraordinarily impact a person's capacity to buy a private property. That is because the lower interest rates go, the lower the cost to get a home loan to purchase a home will be, which makes a higher interest for real estate, which again drives costs up.
Another key factor, that influences the estimation of real estate is the economy. This is for the most part estimated by monetary markers, for example, the GDP, employment information, making movement, the costs of merchandise, and so on. In short, when the economy is slow, so as real estate business.
Lastly, the government policies are another factor that affecting real estate strategy. Performing is additionally another factor that can sizably affect property demands and costs. Tax credits, deductions and donations are a helping of the ways the government can incidentally help interest for real estate for whatever length of time that they are set up. Monitoring current government motivations can enable you to decide changes in free market activity and recognize possibly false patterns.
A similar thinking in view of genuine choices hypothesis can be connected to approach the adjustment in accounting standards. A conceivable change in accounting principles is a case of regulations. On the off chance that, started by new accounting strategy, one or a few of the systems end up being less positive, the organization can choose to stop or decrease the interests in that specific undertaking. This is relying upon the adaptability of that specific procedure.
In the last, explanations behind picking operating lease and charge construct systems can be based with respect to the fundamental normal for the nation, condition and the firm. Firms can incline toward non-value procedures because of artful conduct keeping in mind the end goal to build up cockeyed sheet financing. Restricting reasons are organization objectives, for example, control, benefit, firm esteem, stable wage and business or to adjust to requests of outsiders. New accounting standards are a factor also since they can influence the choices in real estate strategy in light of genuine alternatives hypothesis as an exogenous helplessness.
2.2 New Accounting Standards for Leases and Implications
In the financial statements all the more loyally speak to the substance of financial geniuses of operating leases, the Financial Accounting Standards Board and International Accounting Standards Board bundled their activities (FASB, 2016). According to FASB issued new guidance, a lease will be required to recognize assets and liabilities for leases with lease terms of more than twelve months. Consistent with current Generally Accepted Accounting Principles (GAAP), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP which requires only capital leases to be recognized on the balance sheet the new accounting standards will require both types of leases to be recognized on the balance sheet.
The new accounting standard also will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The accounting by associations that own the assets leased by the tenant also known as lessor accounting will remain largely untouched from current GAAP. However, the new accounting standards contains some focused-on upgrades that are proposed to adjust, where important, lessor accounting with the lessee accounting model and with the refreshed revenue recognition direction issued in 2015.
FASB and IASB boards presented almost same kind of guidance, except two statements, which is income statements and cash flow statements. The both boards concur that a right-of-utilization asset and a lease liability should be accounted for on the announcement of financial statement position, independently from the list of leases. This implies all lease gets that surpass a year development will be promoted. Vital to note is the way that variable lease payments in view of performance obligations, for example, income or benefit are excluded morally justified of-using asset and are expensed about.
According to Arimany (2015) transaction about remark letters of nine banking networks on the recommended lease standards with the financial statement ramifications in view of a valuable strategy. This investigation inferred that the themes talked about in the remark letters line up with the normal effect on budgetary proportions. Use, liquidity and return are altogether influenced when helpfully promoting operating leases and adding one more point, Arimany (2015) additionally proposed a conceivable lessening in operating leases and a conceivable increment in management contracts in the banking business.
To combined it up, the banking business' budgetary proportions, for example, leverage and liquidity are probably going to be harmful influenced by capitalizing operating leases. Earlier research did not give indisputable discoveries about return on assets (ROA) and return on equity (ROE). The particular discoveries for the banking business identify with the discoveries of concentrates with a more extensive illustration. Later, for this Thesis it can be expected that the accounting rules and regulation for leases will negatively affect the accomplishment percentages of banking networks.
2.3 New Accounting Standards for Revenue Recognition and Suggestion
In 2016, the FASB and IASB issued a few alterations and illuminations to the new revenue recognition standard, essentially because of issues raised by share owners and talked about by the Transition Resource Group. Revisions were made to the direction identified with the central versus specialist appraisal, recognizing accomplishment commitments, representing accounting licenses of protected bank endorsement, and different issues. An element can apply the new revenue recognition standard reflectively, including utilizing certain useful catalysts. On the other hand, a substance can perceive the aggregate impact of applying the new standard to existing contracts in the opening balance of retained earnings on the viable date, with appropriate exposures.
The unit of record for revenue recognition under the new standard is a performance obligation. An agreement may contain at least one performance obligations. Albeit characterized in an unexpected way, the nearest similarity in the present vernacular to a performance obligation would be a "deliverable" under the numerous component arrangement revenue direction. Performance obligations will be represented independently on the off chance that they are unmistakable. A good or management is particular if the client can profit by the good or management either all alone or together with different assets that are promptly accessible to the client, and the good or management is unmistakable with regards to the agreement. Generally, performance obligations will be joined with other guaranteed products or managements until the point when the element recognizes a heap of merchandise or managements that is unmistakable.
The transaction cost is dispensed to all the different performance obligations in an arrangement. It mirrors the measure of transaction to which a substance hopes to be entitled in return for exchanging merchandise or managements, which may incorporate a gauge of variable transaction to the degree that it is likely of not being liable to noteworthy inversions later on in view of the element's involvement with comparative plans. The transaction cost will likewise mirror the effect of the time estimation of cash if there is a noteworthy financing part show in a course of action. The transaction cost prohibits sums gathered for the benefit of outsiders, for example, a few deals charges.
Revenue will be perceived when a substance fulfills every performance obligation by exchanging control of the guaranteed merchandise or managements to the client. Products or managements can transaction at a point in time or after some time contingent upon the idea of the arrangement. Particular criteria are accommodated when a performance obligation is fulfilled after some time.
FASB has kept up a double approach for money articulation arrangement for the two lessees and lessors. Lease characterization will be resolved comparatively to existing lease prerequisites, which call for deciding if some lease transaction significantly every one of the dangers and prizes of proprietorship to the lessee. The new standard will expect lessees to represent most existing capital lease as finance leases, where amortization of the right-of-utilization resource will be perceived independently from the enthusiasm on the lease obligation. Most existing operating leases will stay operating leases for income statement recognition under the new FASB direction, with acknowledgment of a solitary lease cost for the most part on a straight-line basis over the rest of the lease term. FASB and the IASB utilize comparative models for order by lessors, however the IASB has a solitary model for tenants, with all leases represented as financings on resident pay proclamations. By the by, FASB and the IASB concur that leases make right-of-use assets and lease liabilities that should to be perceived on the balance sheet.
There is a special case to balance sheet recognition for leases with a term of one year or less, or one year with a renewal choice if the alternative isn't sensibly sure to be worked out. Under U.S. GAAP, lessees can make an accounting standard decision to keep on accounting for these like current operating leases and recognize lease expense straight-line over the lease term. The boards allow lease direction to be connected at a portfolio level in specific cases, however FASB's direction is in its reason for conclusions while the IASB's is in its application direction and gives express quantitative exclusions. The IASB likewise will have a special case for little esteem leases.
Under FASB's model, lessors should to perceive benefit toward the banking of the lease when the leasing arrangement is adequately an offer of the advantage by the lessor. FASB requires that the benefit be conceded and perceived over the lease term if the tenant does not acquire control of the leased asset. Under the IASB's model, a maker merchant lessor should to perceive benefit toward the banking of the lease, paying little heed to whether the lessor transactions the underlying asset.
Finally, in literature review on the effect of the new revenue recognition standards is uncommon contrasted with scope about the new standards for leases. According to Rutledge, Karim, and Kim (2016) expect a higher shot for profit management to happen by means of conceded expenses, judgements and standards because of the new revenue recognition standards. Besides, the likeness inside the business is diminishes with the new standards since direction is less particular.
Finishing up, the management examination comes from estimations when a performance obligation is incorporated into the agreement with a client. This could prompt pioneering conduct and a hazard for the organization of misquotes.
This study followed a quantitative pre-experimental model, using one-group pretest-posttest design. The new strategy is to be connected later on and changes in methodologies must be seen in the announcements of the organizations. Henceforth, this research has a subjective nature and the information is generally account. Theory can't be tried like a quantitative investigation. Rather, this examination gives direction to future research on the connection between the accounting modifications and procedure once the principles are connected. Because of this explorative character, investigate questions are produced to show signs of improvement comprehension of the impacts. The conceivable changes in land methodology and the examination questions are inferred by joining results of previous research. In view of honest another hypothesis, accounting standards are a factor of weakness as it has a place with the legitimate condition of an organization. The restored accounting standards on leases and revenue recognition are an appearance of weakness. Accordingly, a re-evaluation of the real estate strategy is normal.
Table 1 shows how the new leasing standard affect all six departments. This thesis will explain how impacting new leasing standard and where the effect by each department. First department, is affect by impacting new leasing standard is data collection and ongoing data management. To figure out what changes are important to apply the new standard, a good part of the preparatory work will spin around surveying the condition of an organization's present lease contract information service (i.e., its frameworks, approaches, procedures and controls), counting the information required for financial reporting purposes.
Organizations that as of now have efficient lease organization also, accounting capacities may basically need to assess whether their current frameworks, approaches, procedures and controls require adjustment to accommodate the adjustments in the new standard. Be that as it may, while existing frameworks (e.g., spreadsheets and programming) may incorporate some lease data, they might not have all of the data required to make the estimations, judgements (counting on-going evaluations) and data for exposures important to conform to the new standard. Accordingly, huge exertion could be required to physically assemble missing lease data. Different organizations (e.g., those with lease acquisition, lease organization and lease accounting capacities that are goodralized relying upon the specialty unit, geographic area, or sort of leased resource) could have a testing venture ahead. For such organizations, deciding the culmination of the lease portfolio, and the precision and fulfillment of the lease information, may require significant exertion.
Second department, is affect by impacting new leasing standard is IT systems. The present lease related IT frameworks are frequently composed fundamentally to help with lease organization, and numerous are centered around genuine home leasing or a lessor's interest in leased resources. In any case, lessors generally utilize spreadsheets to supplement necessities for current lease accounting and announcing in light of the fact that the present lease related IT frameworks frequently do not have the abilities to play out the figuring required for accounting.
To fulfill the new monetary articulation introduction and divulgence necessities, organizations should assess whether to refresh their current frameworks or to actualize another framework. Choosing or on the other hand refreshing a lease IT framework will presumably require input, not just from accounting, yet in addition from the lease organization furthermore, IT capacities, contingent upon the organization's endeavor asset arranging (ERP) condition. While actualizing any IT framework, it is essential to characterize framework necessities and the desires of important partners before choosing a business.
In the event that an organization applies the new standard on a full review premise, upon application, it will be required to repeat relative revealing periods. Moreover, organizations may need to keep isolate books for outer detailing, neighborhood statutory prerequisites and duty purposes. This will expand the IT framework prerequisites, and may likewise additionally convolute procedures what's more, controls. Distinguishing, creating and actualizing changes to IT frameworks are difficult activities, and the measure of time fundamental would rely upon the inheritance frameworks set up. Organizations that are by and by planning or updating IT budgetary detailing frameworks would be all around encouraged to consider the new standard as a feature of their present IT improvement endeavors. This could decrease the danger of exorbitant re-work and upgrade at a later date. Organizations additionally should to be careful that despite the fact that IT projects can help aggregate information and perform computations required by the new standard, they are not an entire arrangement; no program can make the basic assessments or judgements required by the new standard.
Third department, is affect by impacting new leasing standard is accounting policies. The new standard requires the utilization of judgment and estimates. For instance, assessing whether a plan meets the meaning of a lease could require judgment for certain plans, for example, those with a critical service segment. The updated meaning of a lease could bring about a few game plans accepting diverse accounting standard analyzed to current guidelines. Other key choices requiring judgment include lease payment and the lease term, including the continuous assessments of the lease term and the representing lease alterations. While the IASB expects a large number of the conclusions to be the same under the new standard, a considerable lot of the judgements what's more, evaluations may get expanded examination since lease resources and liabilities will be accounted for on the asset report for generally leases.
Forth department, is affect by impacting new leasing standard is lease procurement. Under the new standard, renters will perceive the present esteem of lease payments over the lease term as a risk on the monetary record. Like current accounting, the meaning of lease payments rejects certain variable payments, and the lease term incorporates just those lease term choices that are sensibly sure of being worked out. All things considered, residents may reassess their needs while arranging their lease terms and payments. A higher extent of variable payments contrasted with settled payments or shorter lease terms may bring about littler lease liabilities. A few residents may reassess in the case of purchasing a benefit would be more favorable than leasing it. At any rate, organizations going into new lease today should to know about the potential effect of the new standard on their money related articulations. Albeit some of these ways to deal with limiting the lease risk seem beneficial from a budgetary explanation introduction point of view, residents should to comprehend that there are sure monetary and business dangers related with such approaches. In this way, organizations should to think about any progressions to their way to deal with lease contracts with regards to their fundamental business prerequisites. For instance, an organization may consider adjusting a lower lease risk from a shorter lease term for a property against the security of longer-term get to the premises. Further, lessors might be reluctant to go up against the extra hazard related with variable payments and shorter introductory lease terms.
Fifth department, is affect by impacting new leasing standard is financial statement. For most tenants, the new standard will bring about a gross-up of the accounting report. This could cause a decomposing of obligation proportions also, return on resources contrasted and current accounting. Certain administrative proportions may likewise be affected. An organization must to survey the potential effect on its financial measurements and assess how this may influence the way partners see its financial statement position and performance. Organizations will probably need to teach inward and outside partners on financial statement of the new standard. A few organizations envision the need to better oversee the correspondence of key execution pointers to partners under both current lease accounting and the new standard among the change time frame. Also, organizations must to recognize whether compensation (e.g., rewards) and obligation plans must to change in light of the new standard.
Last and sixth department, is affect by impacting new leasing standard is tax consideration. Appropriation of the new standard will bring about extra assessment related contemplations. These incorporate understanding the effect of the lease accounting changes on existing expense positions, introductory acclimations to conceded charges and following book/impose contrasts. Organizations should decide vital changes to tax-related procedures and controls required to recognize and track charge alterations. The effect on duties will, obviously, rely on the fundamentals of the particular assessment purview and whether and how they are changed to mirror the fundamentals of the new standard.
Table: 2 Five steps of New Revenue Recognition Standards
Table 2 shows the five different steps of new revenue recognition standards. This thesis will show detail in each step. First step, is identified the contract. This is very straightforward step whereby particular criteria must be met to have a contract. In particular, the contract must have business substance, the guaranteed products and ventures must be recognized and endorsed, and the installment terms distinguished.
Second step, is identified performance obligations in the contract. This is appropriate when an element transaction in excess of one good or service to the client and the extra good or service is unmistakable. All together for a good and service to be particular it could be sold independently or the client can profit by the good or service either all alone or together with promptly accessible assets. However, a good or service isn't particular if it's packaged with different products and ventures; if the business services are exceedingly interrelated; and if the merchandise and enterprises are fundamentally adjusted or customized.
Third step, is determined the transaction price. As per the new revenue recognition standards, the transaction cost "is the measure of transaction to which the substance hopes to get for the transaction of the guaranteed merchandise and services." In conclusive the transaction value, service should consider over the variable transaction, time, estimation of cash, non-money transaction, and transaction payable to the client. The assurance of variable transaction will require critical measure of judgment. Variable transaction incorporates things, for example, rebates, discounts, refunds, and royalties. In assessing the transaction value, the substance would use the expected value method.
Forth step, is allocated the transaction price to the separate performance obligations. A business decides this in view of the relative independent offering price of every performance obligation. In deciding the independent offering value, service needs to recognize performance obligation. On the off chance that none exist service should utilize a technique for estimation to decide the independent offering price. When this has been resolved they dispense the measure of transaction anticipated that would every one of the different performance obligation.
Last and fifth step, is recognized revenue when the entity satisfies a performance obligation. The new model requires that management make more measures and judgments in grounds of recognizing separate performance obligations, deciding the transaction value, variable consideration, the portion of the transaction cost, and when control has been transferred. This expansion in appraisals and judgments imply that service should evaluate and refresh inward controls and procedures to stay away from fraud or misrepresentation. Also, management should figure revenue changes to decide any critical changes in the financial statement to maintain a strategic distance from any pledge violation. These progressions in future revenue should be broke down for any potential assessment arranging openings when the standard become effective.
This qualitative case study described the boards expectation to reduce off-balance sheet accounting. Then again, earlier research gave confirm on non-deft utilization of operating leases as it is an after-effect of productive contracting. If off balance sheet accounting isn't the inspiration for a firm to utilize operating leases, the firm may demonstrate a "negligible reaction" to the new lease principles. Contradicting to that, regardless of whether banking organizations engaged in operating contracts without acting artfully, the effect of the new standards can influence the monetary record fundamentally. This was demonstrated by valuable capitalization, which would be a contention for changing the land standard regardless of whether it was a consequence of proficient contracting. Banking organizations are relied upon to diminish the effect of capitalization of operating leases. Accordingly, the main expected response is: The measure of operating leases is lessened later on (Spence and Webb, 2015).
This study took place in organizations changed parts of existing contracts to change from financial leasing to operating leasing. The adaptability inside the standard gave motivation to change the authoritative document of the agreements. This could occur with the new lease accounting standards also. Both IFRS and US GAAP don't commit capitalization of variable payments in view of offers. Short-term lease is excluded from capitalization also. It isn't practical to lease properties for one year, from a control viewpoint. Consequently, here and now lease contracts are not anticipated that would be utilized for land methodologies. Henceforth, the second expected response is: Operating lease contracts incorporate more factor payments in view of accomplishment later on.
A move towards variable lease contracts is normal, the progression towards a banking management agreement winds up smaller. This implies administrators acquire a level of the income and benefit, rather than paying the lessor for the utilization of the property. Based on money streams, variable establishment understandings are practically identical to banking management agreements, the two payments are depending on execution as far as income as well as benefit. A move towards management agreement is more probable contrasted with a move towards diversifying since the level of control of management understandings is like leasing (Ivanova, 2016). The new revenue recognition standards require underwriting variable payments. The potential danger of confusion and debilitation could be moderated by building up less factor payments. Be that as it may, from a rule operator perspective this would risk the certainty of the proprietor of the property about the long-term duty of the managing the banking network. Also, the new revenue recognition standards are relied upon to make more noteworthy investigation for the directors because of the judgmental rule for execution subordinate income (Rutledge, 2016), which could bring about an inspiration for administrators to decide for management understandings over leasing. Consequently, the third expected response is: Operating leasing is displaced by management understandings later on. In view of the three expressed expected responses over the accompanying examination question is inferred. RQ 1: Does the real estate strategy of banking organizations change because of the accounting standard changes for leases and revenue recognition in any of the accompanying ways? a) reducing operating leasing, as well as b) replacing settled installment operating leasing by factor installment operating leasing, as well as c) replacing operating leasing with banking management.
According to Smith and Toffler, Agency theory give the framework between expected changes in strategy and narrative voluntary about these progressions. The connection between the accounting standards and real estate strategy is relied upon to be detectable in account divulgence. Banking organizations with moderately numerous leasing, diversifying and management agreement are influenced more. Such banking organizations will probably expect more extreme and negative ramifications of the new accounting standards. Divulgence about the negative impact of the new measures would influence the capital suppliers' suppositions about the prosperity of the firm. This would constrain the organizations to adjust to the new standards and convey their standard to win back the certainty of the capital suppliers, in spite of the conceivable issues of introducing sensitive data. In this manner, the disclosure about the ramifications of the accounting corrections are relied upon to identify with revelations about the real estate strategy. Thus, the second research questions include a relationship: RQ 2: Are banking organizations that convey expected negative ramifications of new accounting rules more motivated to disclose changes in the real estate strategy?
According to the Staff Accounting Bulletin "the divulgence of the effect that as of late issued accounting standards will have on the financial statements of the registrant when received in a future period" (SEC, 2016). This can positively affect the exposure amount and nature of firms receiving US GAAP. Because of more exposure about the effect of new accounting rules the capital suppliers of US GAAP embracing firms are better educated and could have more worries about the prosperity of the firm. Accordingly, US GAAP receiving firms are compelled to unveil more about the procedure of changing in accordance with the new principles. Thus, the third research question focusses on the administrative management: RQ 3: Are US recorded banking organizations which convey negative implications of new accounting rules more inclined to change the real estate contrasted with non-US recorded banking organizations which impart negative ramifications of new accounting rules?
The exploration questions are replied by utilization of a substance examination strategy. This is a for the most part subjective approach and is somewhat in view of subjective judgements, yet in addition some quantitative measures are utilized to investigate the result of the substance examination. Content investigation on organizations account exposures gives the benefit of surveying forward-looking ramifications. As a rule, quantitative methodologies are practiced by scholastics to discover the impact of accounting arrangements on the financial statement proclamations. Indeed, even before the execution, quantitative methodologies, for example, valuable capitalization or accrual-based methods are utilized frequently. The utilization of a substance examination gives an extra advance past these quantitative methods.
Quantitative Research is used to quantify the problem by way of generating numerical data or data that can be transformed into usable statistics. It is used to quantify attitudes, opinions, behaviors, and other defined variables – and generalize results from a larger sample population. Quantitative Research uses measurable data to formulate facts and uncover patterns in research. Quantitative data collection methods are much more structured than Qualitative data collection methods. Quantitative data collection methods include various forms of surveys online surveys, paper surveys, mobile surveys, and kiosk surveys, face-to-face interviews, telephone interviews, longitudinal studies, website interceptors, online polls, and systematic observations.
Various sources of data can be utilized for social event data about corporate correspondences that think about the distinctive advances. The 10K-filings and yearly reports are hotspots for the acknowledgment of changes in the accounting models and its normal effect. Yearly reports likewise offer understanding in unveiled future standards. Extra material from official statements and investor introductions is used as hotspot for future system divulgence. This data is found on the home page of the chose organizations, particularly in public statements and speculator relations areas. The time degree is on the financial years 2015 and 2016. Search information sources and sources are basically recorded to ensure straightforwardness of the information gathering process. With a specific end goal to decide the land methodology the sources have been perused in look for data about the future land system. This has been executed as though the perused was a concerned financial specialist searching for the planned bearing as articulated by the administrators. Divulgences about the effect of the two principles are gathered independently. Three measurements are utilized per standard: 1) regardless of whether the standard is examined, 2) how this effects the firm and 3) whether purposes behind this effect were imparted.
Information Questions Answers
New Standard Discussed? Yes/No
Will apply New Accounting Standards? Yes/No
What are the reasons? Significant/Insignificant
How its impact? Negative/Neutral/Positive
Are current strategy changes? Yes/No
Table 3: Data Collection Framework
The codes were created already for a few measurements, for other more entangled issues, for example, the conveyed expected effect, imparted reasons and the future system, starting coding is connected. After all sources were gathered they were broke down deliberately in the request as displayed in Table 1 above. To start with, it was confirmed whether the standard was incorporated into a section of the 10K/yearly report that arrangements with the effect of recently issued accounting standards. The codes for the answer yes or no. The second measurement, will company apply new accounting standards? The codes for the answer is yes or no. The third measurement, what are the reasons? The codes for the answer is "Significant" or "Insignificant". The froth measurement, How its impact? The codes for the answer is "Negative", "Neutral", or "Positive". Last and fifth measurement, is strategy changes? The codes for the answer is yes or no.
The initial example included 30 recorded banking agencies in the US and Foreign with FASB/IASB as standard. The sample of US firms is chosen in view of the file of banking organizations of NYSE reached out by firms that were incorporated into the business benchmark file of NYSE Banking Stocks (US Banks, 2018), barring on the grounds that those are not working banking. For foreign banking firms, the yield the search entry "Bank" on website of Seeking alpha created the great part of the example. This was stretched out with particular surely understood Bank firms that don't convey "Banking" in their name. Among the information gathering process additional data was gathered about the organizations in the underlying dataset. The rundown was narrowed to 30 organizations. For the IFRS test organizations that were recorded in Foreign were picked. Subsequently, Achievement, IFA and Well-designed were evacuated because of the area (Asia, Kuwait and Canada). The banking companies was evacuated in light of the fact that every single yearly report was in German. HDFC Bank has just a single bank and was accordingly expelled too. For the US GAAP test Wells Fargo Bank was evacuated as it converged. Banking was evacuated since the organization is Chinese.
Research question 1 is replied by concentrating on data about the future procedure. Research question 2 is replied by looking at discoveries about the assessment of the effect of the two norms and the future standard. Research question 3 is replied by part the example by year and accounting standard compose.
4.1 Data description
The dataset comprises of data extricated from corporate interchanges of 30 recorded bank organizations with 45 years perceptions about the assessment of the two recently issued accounting principles. The last permits to contrast the interchanges of 2015 and those of 2016. Three organizations did not report about the monetary year 2016 yet. For each organization the future system for land is noted. This brshould about 30 outlines.
The example by administrative management is organized beneath. The example comprises of 14 US GAAP adopters and 10 IFRS adopters.
The wellsprings of data for the organizations included yearly reports, monetary reports and friend's introductions. For particular points of interest of the sources utilized please observe Appendix 2. The Tables 2 and 3 demonstrate an outline of whether the new standard was said and a rundown of the bank organizations in the example (see Appendix 1 for the entire rundown of assessments). Part titles that were utilized for the segments communicating the effect of new accounting benchmarks have been noted per organization, these are recorded in Appendix 4. Crude notes, begbanking and optional coding are displayed in the connected Excel record and STATA Data File. The majority of the outcomes depend on an investigation of the engaging measurements. Facilitate engaging insights are in this way introduced in the accompanying passages.
4.2 Results RQ 1 – Changing Strategies
RQ 1: Does the land system of bank organizations change because of the accounting standard amendments for leases and income acknowledgment in any of the accompanying ways? a) lessening working leasing, as well as b) supplanting settled installment working leasing by factor installment working leasing, as well as c) supplanting working leasing with lodging management assertions.
The announcements of the organizations have been screened for passages that particularly express the future standard concerning land. Five organizations in the example have expressed particular designs about lessening leases, variable leasing as well as supplanting lease contracts. Outlines of these procedures are given beneath. The organizations don't frequently determine whether the (declared) lease payments are variable on execution. What's more, in some cases the possessed and leased properties are considered all in all, notwithstanding the distinctive hidden standards.
Air conditioning: has framed a vehicle to turn off properties. The backup contains claimed and leased properties. The organization declared that the backup will be sold, this procedure is known as the promoter venture. All leases are incorporated into the sponsor venture with the exception of the variable leases in light of EBITDAR. The control over the backup will be not as much as the larger part, consequently the value standard will be relevant. The advantages are not solidified any more. Management contracts between administrator AC and the to be sold auxiliary are arranged as AC will remain the administrator.
HLT: has shaped a REIT so as to turn off for the most part claimed resources and five leases. It was not determined whether the leases are working or money related leases. The banking are to be worked by HLT through management contracts and diversifying contracts between the administrator and the proprietor.
NHH: has renegotiated and ended lease contracts with horrible conditions before and is resolved to keep doing that. The poor execution of the properties is the
conveyed explanation behind this choice. A few assentions were transformed into establishment understandings. The organization additionally conveyed the sense of duty regarding increment the heaviness of variable leases since this enables the income to be stronger to industry cycles. In addition, NHH has define itself the objective to build management contracts. Some lease assentions are still in the pipeline.
DHG: tries to purchase leaseed properties back. They conveyed that ominous components in contracts are the reason, as the lease payments are relying upon the market costs.
SHOT: every single declared opening by SHOT depend on factor lease contracts.
Every other organization in the example did exclude articulations about leaseing contracts in their advancement designs that particularly managed issues, for example, depicted previously. Be that as it may, most organizations have recommended to expand establishment and management contracts and two organizations, in particular PPH and BEL, have reported to build the leases without indicating whether these are to be founded on factor lease payments. Along these lines, the relative measure of working leases is by and large anticipated that would diminish in the lodging business.
Singer, R., Pfaff, A., Winiarski, H., & Winiarski, M. (2017, November 02). Accounting for Leases Under the New Standard, Part 1. Retrieved April 11, 2018, from https://www.cpajournal.com/3017/08/23/accounting-leases-new-standard-part-1/
Business Bliss Consultants FZE. (November 2018). Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies. Retrieved from https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1
"Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies." ukdiss.com. 11 2018. Business Bliss Consultants FZE. 01 2023 <https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1>.
"Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies." Business Bliss Consultants FZE. ukdiss.com, November 2018. Web. 31 January 2023. <https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1>.
Business Bliss Consultants FZE. November 2018. Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies. [online]. Available from: https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1 [Accessed 31 January 2023].
Business Bliss Consultants FZE. Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies [Internet]. November 2018. [Accessed 31 January 2023]; Available from: https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1.
{{cite web|last=Answers |first=All |url=https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1 |title=Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies |publisher=ukdiss.com |date=November 2018 |accessdate=31 January 2023 |location=Nottingham, UK}}
Business Bliss Consultants FZE, 'Impact of New Accounting Standards for Leases and Revenue Recognition on Real Estate Strategy of Listed Banking Companies' (ukdiss.com, January 2023) <https://ukdiss.com/examples/new-accounting-standards-listed-banking-companies.php?vref=1> accessed 31 January 2023
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The best ZakStunts track ever... well, it was Oligoways with Melange. And ZCT 14/41.
ZCT14/41 is the biggest classic of course. ZCT59 was really good too, and a close and extremely high-level race. ZCT20 was good too, fun with Indy power gear.
I'm struggling on this track, no time worthy to be sent so far from me. This is maybe lack of experience... On Monday, I'm going to try the Audi Quattro.
But Ayrton is under 50 secs... not that beautiful fact.
Are you not going to race on your own track, Mark L.?
He's already there. And Ayrton too. AYR=MLR=ARG(?). It also explains my conspiracy theory about why to make a risky victory with Acura on Z86 - to avoid Acura race on his own track (because Ayrton's "weakness" is Acura powergear).
1) Cars I would have to use are not cars I like. If I can try to fight with you, Ayrton, CTG, Duplode and others with fast cars and some other ones, sure I can't with GTO and Acura, especially if I have to find a hard Powergear.
You should become a writer! Your plot theories are really great!


text:
Cemil Çıpa (born 22 January 1988 in Istanbul) is a Turkish former race driver, who competed in one season of the Formula 3 Euro Series in the Drivers' Trophy and finished in third before he quit from racing at the end of 2006, aged just 18. In 2005 he won Formula 3 Turkey after graduating from karting in 2004. His karting career saw him clinch four titles in Junior category.

References

Turkish racing drivers
1988 births
Living people
Sportspeople from Istanbul
21st-century Turkish people

redpajama_set_name: RedPajamaWikipedia


One of the aspects of winter we can all look forward to is a good snowfall, and I don't consider it really winter until we have gotten at least a few inches of snow. But at the same time, if you have a deck or patio to keep clear, or a parking space to dig out, snow storms spell one thing: work. When I was much younger than I am now, I actually enjoyed the chore of shoveling the snow. It can be a great workout, and if the driveway or walkway you are clearing is not too long, then clearing a light snow accumulation is not a terribly difficult task. But these days, shoveling snow manually is a job that is frankly outdated.
Nowadays the latest technological advances have provided tools that take a lot of the work out of clearing your driveway. But if your driveway or walkways are not very long, purchasing a big, overly powerful snow blower might not be the best investment. A great middle ground between snow blowers and manually shoveling the walk is the electric snow shovel.
These machines are lightweight and fairly easy to use. Some electric snow shovels have a paddle style auger that pushes the snow forward like a powerful broom. Other models are designed to throw snow several feet in front of them like a mini snow blower. They are designed to handle a few inches of snow accumulation over a relatively small area such as a short sidewalk or one car driveway. Electric snow shovels are also particularly great for clearing porches, decks, or stairways.
The auger on an electric snow shovel makes contact with the ground as you push it through the snow, so they are not useful to clear snow on uneven or unpaved ground. They also will not handle accumulations of more than four or five inches, so if you are experiencing heavy snowfall, you will have to begin clearing it as it falls and before it gets too deep. Otherwise an electric snow shovel will not be effective.
Electric snow shovels are an excellent upgrade for people who do not have the back or arm strength necessary to shovel snow manually, and who do not live in an area that gets the kind of snow accumulation that would make a snow blower necessary. Electric snow shovels have clearance widths of twelve inches or more and generally weigh less than fifteen pounds. Snow blowers are considerably larger and heavier, which may make them unwieldy for some people.
Electric snow shovels are some of the most affordable power snow clearing devices. On average they tend to be about half as expensive as most single-stage gas or electric snow blowers and are considerably less expensive as two-stage snow blowers or professional grade snow blowers. That means that by purchasing an electric snow shovel, you can benefit from moving away from purely manual snow clearance, but you will not have to spend the kind of money bigger machines would require you to pay.
There are quite a few reasons why opting for an electric snow shovel is a great choice if you have the kind of property it is designed to work with. These machines are perfect for smaller properties in areas of the United States where snow storms do not typically drop more than a few inches at a time. In these areas, you can almost get away with just using a heavy duty salt mixture to keep your pathways clean, but you will occasionally need to clear snow as well. In this case, a snow blower may be too big and heavy duty to be efficient, let alone worth the purchase price or costs of maintenance and fuel. An electric snow shovel, on the other hand, can help you finish the job quickly and efficiently. And it will not break your budget for the winter.
Electric snow shovels are very lightweight – the vast majority of them weigh less than fifteen pounds. That means that just about anyone should find them easy to maneuver around their sidewalks or patio. And the auger on an electric snow shovel, which is the piece that throws snow forward, does supply some forward propulsion, which helps make them easier to push through snow. Electric snow shovels are a much easier method of clearing snow than the old fashioned manual way. You will not wind up with muscle fatigue, a stiff back or sore arms when you are finished clearing snow with an electric snow shovel. And they are a lot easier to use than bulky snow blowers are.
In both cases, an electric snow shovel will be a lot easier for persons with disabilities, senior citizens, or those of us who do not have the necessary strength level to clear snow manually. If you do not have a particularly large driveway, or if you just have to keep your walkway or deck clear of occasional snow accumulation this winter, an electric snow shovel is the way to go.
Electric snow shovels are very compact, and their footprint – which is generally going to be less than two square feet – makes them very easy to find storage space in your garage or tool shed for one. In fact, their small size combined with the fact that they are so lightweight means that you could even hang your electric snow shovel on a sturdy nail on the wall of your tool shed or garage. They will not even take up much more room than your old manual snow shovel does. In fact, an electric snow shovel has a small enough footprint that you could even keep it indoors in your utility room, broom closet or back porch. This is advantageous if you are only using it to clear walkways or decks. You can start clearing snow right out the door, instead of negotiating slippery ground covered in ice and snow on your way out to the garage before you can get started.
Compare that to the large footprint and bulky weight of a snow blower, which will need quite a bit more storage space and can pretty much only be kept in your garage, and you can see the obvious advantages to finding storage for the smaller electric snow blower. When you do not live in an area that gets a lot of heavy snow, it doesn't make sense to have your snow clearing tools taking up a lot of space in your garage.
Electric snow shovels are also considerably easier to use than snow blowers. You will not need any mechanical skill to keep an electric snow shovel performing well, whereas snow blowers – particularly gas powered and two-stage snow blowers – will require you to perform periodic maintenance. There are no spark plugs to change or air filters to clean with an electric snow shovel, and you will never have to worry about changing the oil. You also will not have to keep smelly gas cans or messy oil cans in your garage. All you need is an extension cord that can reach the end of your walkway or driveway, and you are ready to start clearing snow.
Electric snow shovels are very friendly to the environment, which is a matter of increasing concern to consumers these days. Just take a look at how popular hybrid cars or energy efficient appliances have become, and you can see that there is a general trend towards more environmentally friendly products in our home. Electric snow shovels do not produce any carbon emissions, which means you can be confident that buying one will help you do your part for the environment. And they use a lot less electricity than electric snow blowers, so you will be reducing your overall energy consumption by using one as well.
In addition to saving the environment, buying an electric snow shovel will afford you considerable monetary savings as well. These tools are far less expensive than two-stage or even single-stage snow blowers, which can get very expensive rather quickly. Electric snow shovels, on the other hand, are the least expensive power snow removal products on the market today. These economical machines typically cost about half of what some of the least expensive snow blowers do, and are less than a fifth of the price of many two-stage snow blowers. And because they run on electricity instead of expensive gasoline, you will continue to enjoy savings every time you use one.
Any one of these features is a great reason why buying an electric snow shovel is a good consumer choice. If you live in an area that does not experience snow storms with very heavy accumulation – that is, if you do not often see more than about four inches of snow in a given storm – then an electric snow shovel is well equipped to handle your snow clearing needs. And if you do not have a particularly long driveway, or only need to clear walkways and a deck or patio, then an electric snow shovel can help you do the job more quickly and efficiently than any other tool out there.
One of the advantages to electric snow shovels is that they use considerably less electric power than electric snow blowers, which have amperage loads that can run as high as 15 amps or more. Modern breaker boxes are equipped to handle amperage loads of about 16 amps before a breaker will blow the fuse to protect the power source. This makes running an electric snow blower in tandem with other electric appliances on the same breaker potentially difficult, as doing so may cause you to blow a fuse. With an electric snow shovel, which generally does not have an amperage load of more than 8 or 10 amps, you will not have to worry about this problem.
At the same time, you should not necessarily look for an electric snow shovel with a lower amp intake, as this can limit the overall performance the shovel. Electric snow shovels that have higher amperage will be able to support bigger clearing widths and taller intake heights. Additionally, electric snow shovels that use more power will be able to clear heavier snow and throw snow farther. Therefore, I generally recommend looking for an electric snow shovel with a power intake of no more than 10 amps, which will provide enough power without putting any strain on your breaker.
The intake height of the electric snow shovel will determine how deep snow accumulation can get before you will not be able to use it to effectively clear it. While most electric snow shovels have intake heights that average around four inches, there are electric snow shovels that have intake heights that can go as high as six inches. With a higher intake height, you will not have to worry about a sudden freak snow storm dropping more snow in your area than your electric snow shovel is equipped to handle. Of course, those of us who have the option of shopping for an electric snow shovel, rather than a larger snow blower with a ten or twelve inch intake height probably do not live in areas where heavy snow accumulation is a problem.
But with a six inch intake height, instead of a three or four inch intake height, you will not have to worry about a bigger snow accumulation. A smaller intake height might make you have to clear your deck or walkway a few times while snow is still accumulating. Not only can this be a rather unpleasant task, it can expose you to freezing temperatures and unsafe conditions.
An electric snow shovel that is equipped with a wider clearing width will be able to cover the same amount of ground in fewer passes. That translates to less time spent going back and forth on your patio, deck or driveway. Simply stated, the wider the intake width of the electric snow shovel, the less time you will have to spend outside in the cold, inclement weather and the sooner you will be back indoors, warming up with a hot drink and a cozy blanket. And if you are clearing a walkway, a bigger electric snow shovel might be able to quickly and efficiently clear the whole thing on just one pass.
At the same time, you should be careful to make sure that you are not buying an electric snow shovel with a clearing width that may be too wide for you to easily maneuver around your driveway or patio. While most electric snow shovels have clearing widths of about twelve inches, larger ones are available. But you may want to avoid them, as snow tends to get heavy rather quickly as it piles up, and you do not want to be struggling with an electric snow shovel that is too hard to maneuver.
Most electric show shovels have a power drive system in which the auger, which is the paddle like spindle that scoops up snow and throws it forward, also helps to propel the snow shovel forward. But a number of less expensive electric snow shovels do not offer an auger assisted power drive system, and instead require the user to supply all of the power needed to keep the snow shovel moving forward. Which kind you decide to opt for is basically up to you and depends on how much money you want to spend as well as whether you think you will be able to push a twelve or fifteen pound electric snow shovel through the kind of snow accumulation you typically experience in your area.
Pushing an electric snow shovel that does not propel itself is not terribly difficult. It is certainly easier than pushing a manual shovel through heavy snow. On the other hand, part of the reason for switching to an electric snow shovel is the added convenience it affords you, so it might make perfect sense to spend the extra ten or twenty percent in order to get one that has an auger assisted power drive system.
More inexpensive electric snow shovels offer a fairly basic package: you will get a machine that can assist you with shoveling snow that is less than six inches deep over a relatively small area. That in and of itself can be a huge help during the winter months, especially if you do not want or are not able to use a manual snow shovel to clear your driveway, walkways, or deck. But a number of electric snow shovels offer a few additional accessories for a higher price.
Some electric snow shovels come equipped with LED headlights, which can be advantageous if you find you have to shovel snow in the early morning or late afternoon when there is not enough daylight to see what you are doing. Others have conveniently heated handles, which is a great bonus. Auxiliary handles, which are typically mounted on the front of the main handle, help you to maneuver the electric snow shovel even more easily. And I highly recommend buying one that has a locking mechanism for your extension cord so it does not pull out while you are clearing snow. As an electric snow shovel adds more accessories, it can get more expensive, but the added convenience may be worth it.


text:
By Andy Burns Posted on Jul 7, 2019 July 7, 2019
'Under The Silver Lake' Is A Trip Worth Taking
I love L.A., to quote Randy Newman. I love the music. I love the stories. I love the history, its good and bad.
When I was married, my wife and the Princess and I would often head out to California to visit my sister-in-law and her husband. For the most part I enjoyed those experiences very much, though to be fair, the last family trip, as we were nearing the end of our marriage, I was definitely a grump and not a treat to be around. But I like to think that was more of a blimp and doesn't sum up all the prior experiences.
The first time my ex-wife and I went out to visit the family, they were living not far Sunset Boulevard. We could walk from their apartment to Amoeba Records. My brother-in-law took us to the top of the Capital Records building. We saw a movie at the Hollywood Forever Cemetery, and took a double decker tour bus. We walked the streets and though I'd been to L.A. before, this was the first time I'd felt I'd really seen it.
On our later trips, we would stay with the family in Silver Lake, considered by many a hipster locale not too far from Los Angeles and Hollywood. I remember the architecture vividly, the vibe. Coffee shops, a lot of them. A small, nice and expensive comic book shop where I bought a hardcover copy of The Incal. So many memories. All of which came rushing back to me this weekend as I watched David Robert Mitchell's film Under The Silver Lake.
Mitchell first got everybody talking a few years ago with his second film, It Follows. A horror film with a seductive synth score, it had fans raving, including former Biff Bam Poppers Luke Sneyd and Amanda Blue. The film didn't really do much for me, and I recall thinking, "what am I missing here?" But we move on, accepting that no film will work for everybody. It's a sentiment that Mitchell's latest is receiving throughout the film community.
Under The Silver Lake stars Andrew Garfield as Sam, an unemployed man with an interest in code breaking and conspiracy theories. One night he meets a young woman named Sarah (Riley Keough) who lives in one of the apartment units in his building. They clearly hit it off but when they make plans to meet the next day, Sam discovers that Sarah has disappeared and begins obsessively trying to track her down. His investigations leads him into a world of conspiracy theories, pop music, drugs and debauchery.
Sounds like California, right?
Under The Silver Lake is one of the most captivating films I've seen in a very long time. It defies easy categorization; I've seen it labeled as a crime noir/comedy; that isn't inaccurate, though I think calling it comedy implies hearty laughter, which there's isn't much of. For me, the whole time I was watching I kept thinking "this is a trip," and that sentiment sticks with me hours later. It's surreal and at times psychedelic, so "trip" could reference the obvious drug connotations. But Under The Silver Lake is also a L.A. experience, a travelogue moving through neighborhoods and experiences so unique to that environment.
Andrew Garfield carries the film on his shoulders, and does it very well. There's a wealth of emotion delivered, from aimless ennui to seething rage to horrified realization when Sam's suspicions of a world underneath the one we live in are confirmed. How much you enjoy Under The Silver Lake rests heavily on how much you can buy into Garfield in his role; for me, clearly he delivered.
I'm of the mind that Under The Silver Lake works best depending on your own personal connection to not just its environment, but to its frequent reference to conspiracy theories. I love those sorts of stories and ideas – the moon landing, programming, and the like. Writer/director Mitchell hits on some of those with a skill that suggests that even if he's not a believer in any of the theories, he's certainly well versed in their lore. Especially in the (ridiculous) theory that a man named Theodor Adorno from Britain's Tavistock Institute was responsible for composing all of the post-1967 music of The Beatles and The Rolling Stones. In what may be the most memorable scene in Under The Silver Lake, Mitchell plays out this idea in a confrontation between Sam and a man known simply as Songwriter (Jeremy Bobb). These 6 minutes are worth the price of admission alone.
Mind you, with a two hour and twenty minute run time, some might find Under The Silver Lake too long, too impenetrable. For those that fall under its spell, you may wind up feeling that time passes a little too quickly. The movie feels like a personal work, a love letter to everything good and bad about a city that draws so many people to it; then again, that could just be because of my own loves and biases.
Like I said, I love L.A. And I loved Under The Silver Lake.
Categories: Andy Burns, Andy Burns/Andy B, General, movie review, moviesTags: Andrew Garfield, Andy Burns, California, David Robert Mitchell, movie reviews, movies, Under The Silver Lake
Published by Andy Burns
Andy Burns is the Interactive Content Editor for SiriusXM Canada, and has been the Editor-In-Chief of the pop culture website Biff Bam Pop! since its inception in 2008. Andy's book, Wrapped In Plastic: Twin Peaks, was published in 2015 by ECW Press. His next book, on Stephen King's The Stand, will be published by Cemetery Dance in 2018.	View all posts by Andy Burns
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redpajama_set_name: RedPajamaCommonCrawl


text:
using System;
using System.Collections.Generic;
using System.Reflection;

namespace Photosphere.DependencyInjection.Types
{
    internal interface ITypesProvider
    {
        IReadOnlyCollection<Type> GetAllDerivedTypesFrom(Type type, Assembly assembly);
        IReadOnlyCollection<Type> GetMarkedTypes(Type attributeType);
    }
}

redpajama_set_name: RedPajamaGithub


This morning I decided to see if I could teach myself to make a basket using my sewing machine, variegated thread, and clothesline. I'd seen a video online last week and bought my clothesline the other day. In under an hour I had used all but 6 inches of the 50' clothesline and most of a spool of thread, rewinding the bobbin at least four times. I even figured out how to make a loopy handle. And I made this in less than an hour!


text:
package core.formatter

import com.fasterxml.jackson.databind.{ JsonNode, ObjectMapper }

import scala.reflect.ClassTag
import scala.reflect._

/**
 * Created by pengyt on 2015/8/28.
 */
trait BaseFormatter {
  protected val objectMapper: ObjectMapper

  def formatJsonNode(obj: AnyRef): JsonNode = objectMapper.valueToTree(obj)

  def formatString(obj: AnyRef): String = objectMapper.writeValueAsString(obj)

  def parse[T: ClassTag](contents: String): T = objectMapper.readValue(
    contents,
    classTag[T].runtimeClass
  ).asInstanceOf[T]
}


Ever thought about the 'ingredients' that go into making the stuff you invite into your home?
CONTAINS explored the stories behind the products we use every day – the people who make them, the materials they use, the energy consumed, the miles travelled – in an innovative, inspiring and accessible exhibition showing how design can make a difference.
CONTAINS housed 100 thought-provoking, sustainable designs from cutting-edge UK designers in shipping containers at Newcastle's Monument – you couldn't miss it!
Er...? Are you a confused consumer?
Finding products that are better for you, for others and for the environment can be tricky. The [re]design CONTAINS exhibition is here to help. Before you buy, read the label, ask questions and find out the story behind the products. What do they contain? How are they made? Where do they come from? Where could they be going? What positive or negative impacts do they have?
These six 'er' words introduce the ways a product can be better… for everybody.
Cleaner...? Products that avoid polluting our air and water.
Clean manufacture: avoids by-products that damage the environment.
Closer...? Products that are made locally or made to be loved.
Personalisable: space for you to add your own mark.
Self-make: made or assembled at home.
Bespoke: made especially for you.
Greener...? Products that use natural, biodegradable materials from well-managed sources.
Biodegradable: can be broken down by living organisms and returned to the earth.
Certified Organic: grown with minimal synthetic chemical intervention.
Sustainably grown: natural materials produced in a way that maintains the long-term health of the environment they come from.
Lighter...? Products that are more efficient.
Energy efficient: minimises the use of electricity or heat [in production or use].
Water efficient: minimises the use of water [for washing, cooling etc].
Efficient material use: produced with minimal waste material.
Measures resource use: monitors the use of electricity or water to raise awareness.
Multifunctional: with more than one use.
Longer...? Products that are built to last.
Built to last: made to last a lifetime.
Upgradable: can be transformed into a new, improved version.
Adaptable: can change over time to meet your needs.
Enhanced by age: develops character over time.
Recycler...? Products that use materials that are reclaimed or easy to recycle.
Reuse waste materials: made from reclaimed, recycled or reprocessed materials.
Recyclable: materials that can be reprocessed to be used again.
Designed for disassembly: can be taken apart easily for recycling.
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"Contains was one of the highlights of Design Event 07 and truly engaged with the public in a fun and informative way. Redesign are a great team to work with, pulling out all the stops and consistently delivering high quality events with a smile."


text:
Keith Haring Takes Over The Arlington Museum Of Art
by Hady Mawajdeh 1 Aug 2019 8:03 AM
The pop artist Keith Haring died in 1990, but in a lot of ways, he's still alive today.
Want to see Keith Haring's artwork up-close? His exhibition "Keith Haring: Against All Odds: is open until September. Go here for details.
His colorful and cartoonish artwork is everywhere – plastered on t-shirts, skateboards, even underwear. In this week's Art&Seek Spotlight, Haring takes over the Arlington Museum of Art. And Art&Seek reports an odd set of circumstances that spurred the artist's invasion.
A photo of the Arlington Museum of Art's signature work for the "Keith Haring: Against All Odds" exhibition. The work is untitled, but is often referred to as "Big Love."
Photo: courtesy Arlington Museum of Art
Simple and energetic. That's the easiest way to describe Keith Haring's artwork. The second-easiest might be to compare his work to cave paintings. Either way, today his bold-outline drawings of dancing people and barking dogs are as recognizable as Warhol's Soup Cans.
"He just uses a media that's light enough to get people's attention. And that kind of sticks with you," says 15-year-old Camron DeLay. "But I do think when you think of Keith Haring it's like all the fun colors and the shapes and symbols. It kind of makes you feel like, "(sigh) Oh! It's Keith Haring.""
Art&Seek ran into DeLay and her family at the Haring exhibition in Arlington. She's sporting a t-shirt with a Haring design as we talked. And she told us that this show's her favorite of the summer.
Cameron DeLay (left) and her sister Ashley posing in front of the AMA. Photo: Stephanie Delay
"I mean, definitely! (laughs) It has to be, because I love all of his work," she says. "No matter what I see, this is definitely going to stick with me."
The exhibition – which is open until September – is called "Against All Odds." And that's sort of a perfect title because hosting an exhibition with an artist whose profile is as large as Haring's is normally reserved for venues like The Modern in Fort Worth or the Dallas Museum of Art.
"It is a big deal," says Chris Hightower, He curates the Museum's exhibitions. He's also president of the museum's board. "We've had the largest opening week, the largest opening month, I mean, everything that we've done, we've done at the largest scale we've ever had."
A screenshot of the message Jenifer Silverton sent to Chris Hightower at the AMA. Photo: Courtesy Jenifer Silverton
Beyond the show's success, Hightower says its origin story is also unlike anything he's experienced in his career. It all started with a sixth-grader and his mom. "One of our patrons and her son had read this book on Keith Haring," he explains. "And so, the boy wanted to know if we could bring that exhibit to the Arlington Museum of Art."
"It was actually just a random thing," says Jenifer Silverton. "I really did not know about Keith Haring until I read the book. And then I recognized his artwork from when I was growing up, and then I kind of put the two and two together."
"So they thought, 'What the heck?" I guess." explains Hightower. "And they just messaged me on Facebook. (laughs)"
The book Silverton and her son Sage read is called "Keith Haring: The Boy Who Just Kept Drawing."
"I just liked Keith's response to everything," says Sage Silverton.
Sage and Jenifer Silverton at the AMA. Photo: Hady Mawajdeh
Sage explains the book's about Haring's rise to fame. And his favorite things about the book were Haring's artwork and learning about the artist's contempt for the establishment.
"People just asked him questions like, 'Why do you do this stuff?' And he just like looked back around and just kept on drawing anyway" he says.
That attitude meant Haring wasn't always the art world's darling.
"I started drawing in the subway in New York in 1980," Haring told documentarians from Chicago's WTTW in 1989. "Mostly, really, out of a desire to reach directly an audience or a public that was out there without going through the galleries or the museum situation."
Haring explained to WTTW that his subway graffiti was part of a dialogue he was having with the city. And the endeavor catapulted his career. After five years, he brought his art above ground.
Keith Haring Subway Drawing ca. 1984
Photographed by Tseng Kwong Chi
"There was a lot of pushback about his work," says Hightower, "because he kind of came from the streets and was street art, but his art, I think, really appeals to a wide audience because it's easy to access. So young people can catch on to it, but then his more challenging issues will push an older, more mature audience."
Before Haring died of AIDS-related illnesses, he made serious, even frightening works that dealt with oppression, capitalism and of course the AIDS epidemic. Hightower says those works are why HELP – a North Texas health organization for the LGBTQ community – decided to sponsor the exhibition.
Keith Haring's "Ignorance = Fear."
Photo: © Keith Haring Foundation
The Arlington Museum of Art's Chris Hightower.
Photo: Hady Mawajdeh
"I think they really loved it. Because it's an AIDS service organization, and it was great that a young person wanted to know more about this artist and the artist's work. I mean, everything just aligned beautifully," Hightower says.
One of Haring's goals as an artist was to democratize art. He wanted all people to have access to his work and his message. And today, in Arlington, that goal has been accomplished.
Arlington Museum of Art
Art&Seek spotlight
Keith Haring: The Boy Who Kept Reading
the barking dog
The Radiant Child
About Hady Mawajdeh
Hady Mawajdeh is an Arts Reporter and Digital Editor for KERA's Art & Seek. View more about Hady Mawajdeh.
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NouJee Lor has her sights set on a career in biology — she hopes through studies at the University of Minnesota — and that means the St. Paul high school student is on the lookout for big news in July.
That's when she gets the results of an exam she recently took in AP (Advanced Placement) biology and learns whether she did well enough to earn college credits.
"I'm pretty nervous about it," said Lor, who will be entering her senior year at Washington Technology Magnet School.
For students of color, the ability to start early on their postsecondary education through dual credit courses has proved valuable, and data from the state Department of Education show participation rates soaring statewide for nearly every demographic group between the 2009-10 and 2015-16 school years.
In a meeting convened this month by the Minnesota Office of Higher Education, dual credit courses were cited as a way to help the state move toward a goal of increasing the percentage of Minnesotans between the ages of 25 and 44 who have earned a postsecondary certificate or degree from 61 percent to 70 percent by 2025.
Still, in some districts and high schools, there are sizable gaps between the percentage of students of color in their student bodies and the percentage who take dual credit courses — differences that inspired a study this past school year by students and staff members in the St. Paul School District.
The report presented in May by the Student Engagement and Advancement Board showed that white students were far more likely to be enrolled in AP and International Baccalaureate (IB) programs districtwide than students of color, and that the gaps were fairly steady in the four years between 2013-14 and 2016-17.
At the Star Tribune's request, the state Department of Education provided school-level data for not only AP and IB, but also CIS and Post Secondary Enrollment Options (PSEO) participation. It showed that while Como Park Senior High, which prides itself on having St. Paul's most comprehensive AP program, is about 80 percent minority, less than half of the students who participated in its AP, CIS and PSEO programs in 2016-17 were students of color.
In Anoka County, Columbia Heights High School has a student body that is about 80 percent minority, too, but it has achieved greater success in placing students of color in its advanced classes. There, students of color represent 82 percent of students who took advantage of the school's AP, CIS and PSEO offerings.
Rajni Schulz, a member of the St. Paul student group who will be a senior next year at Central High, sees disparities at her school, too.
The district says it is committed to closing the gaps, and school board members say one vehicle to make it happen could be the district's new strategic plan.
In 1988, Minnesota became a school choice pioneer by passing an open enrollment law that gave parents broad discretion over where they could send their children. A more limited option already was in place, however, that being PSEO, which allows high school juniors and seniors to attend college at no cost to them.
Nathan advocated for passage of PSEO, and was at the State Capitol again this spring seeking to expand the number of students receiving help with their transportation costs.
State Sen. Carla Nelson, R-Rochester, the bill's author, noted then that PSEO and CIS helped boost the fortunes of low-income students. According to one study, she said, 93 percent of low-income kids who took at least one advanced course graduated in four years, compared with 62 percent of low-income students overall.
Testifying, too, was Aaliyah Hodge, who graduated high school with 58 college credits through PSEO, and now heads a nonprofit group, People for PSEO.
In an interview last week, Nathan described the current state of dual credit courses as "simultaneously disturbing and encouraging" — disturbing in that there remain "significant gaps" in some programs, but encouraging in that "there is a lot of progress and the gap is closing rapidly," he said.
One-on-one counseling, including learning what students are interested in and feel they are good at, was cited as pivotal by Nathan and others.
At Washington Technology Magnet, Lor recalled counselor Jody Mathiowetz looking over her courses during sophomore year and advising her to challenge herself.
"And that's what I did," Lor said.
She and her classmates took their AP exams on May 14. But teacher Karen Casper continued to engage them.
"The beauty of the month after the test is that we can just explore," Casper told a visitor the day before the end of school.
Off they went into a wooded hillside to document when plants and trees flowered or distributed their seeds. Lor, at the teacher's request, took it all down on a clipboard, and added to it an accounting of the various invasive species they encountered.
Lor praised her teacher, saying that even though as a student she struggled at times in the advanced class, or was not fired up for the 7:25 a.m. start, Casper kept the class inspired. And as for the exam — and the all-important college credits?
"I think we covered it pretty well in class," Lor said.