De minimis

Kyle Kakalia International Accounting Case #2 Ruckman, Inc In his assessment of Ruckman, Inc, Chris should recommend many of the following conversion implementations take place. We will start with the differences between IFRS and US GAAP in capitalization of development costs. For IFRS, there are six requirements that need to be met in order to capitalize a development cost, and a development cost can only be capitalized if it meets all of these six requirements. First of the criteria is a technical feasibility of completing the development project, which means that it has to be possible to complete this project. Second requirement the company’s, in this case Ruckman, Inc’s, intentions to complete the project. IFRS does not want to give any economic benefit to a company who has no intentions of following through with the actual project. The third obligation is the Ruckman, Inc’s ability to sell that project or use it to help generate revenue, speed up processes, or increase safety for the company. If the project brings no benefit, then there can be no capitalization of the development. Fourth would be the likelihood of the project generating future economic benefits. Just because it can be used, does not mean that it will necessarily be used or useful when the project is finished. Fifth would be having the necessary resources to finish the project. If there is a lack of monetary financing, technical expertise, or any other resource problem that may occur, then the project…

segregation, De Jure and De Facto segregation. De Jure segregation was segregation that is forced by law and can be easily fixed, De Facto segregation was segregation enforced by the public and society, not necessarily by law. Since De Jure segregation is a law, it is required and hard to get around for example, Plessy v. Ferguson, and the Jim Crow Laws. De Facto segregation makes the struggle for racial equality extremely hard because it will require changing people’s beliefs and views and…

middle decade two more young males accused Gacy of rape and he would be questioned by the police about the disappearances of others. Later discoveries would uncover that Gacy committed his first known murder in 1972 taking the life of Timothy McCoy after luring the teen to his home. December 11th, 1978 15 year old Robert Piest went missing last seen at his work as he headed out to meet Gacy for a potential job.He lured his victims with promises of works and when he got the to his home he would…

The Mughals ruled northern India from 1526 – 1857 AD where the Lodhi’s was the last dynasty to rule India. The invasion started all because of India's reputation of being the only known source of diamond mines in the world and it's flushing International trade attracted many invasions. “North Indian kingdoms resisted invasions by Arab and Turks for centuries, but soon small Islamic empires or Sultanate were established in several parts of the north. Before these invasions, Muslim trading…

In a series of ten works, estimated to be more archaic than the Christian scriptures of the Old Testament. Vitruvius, a Roman architect and engineer, wrote the treatise: De architectura – based on a set of principles concerned with the theory of architecture, also known as the Vitruvian triad. He highlights the importance of structural integrity, utility and function, and the honesty of true beauty defined by a paradigm of, “firmness, commodity and delight.” Vitruvius’ writings established a…

Once we all piled in the van, we had to stop at McDonald’s for food. When we got done eating, we started on our way to Des Moines. About half way there, some of us girl started to get a little tired. Some fell asleep in their seats, and some fell asleep on the floor of the van. I was one of those girls. When we got to Des Moines, we had to go check into our hotel. We had to share the whole hotel with West Lyon. When morning arrived, we all headed down to the lobby for some breakfast. Once we…

De Beers focuses on building brand Nothing is forever in business, not even diamonds. Ask De Beers, which runs the world 's diamond cartel. The London-based company, actually De Beers/Centernary, has developed and inflated the connection between diamonds and romance -- a link that goes back only to the 19th century. Its highly effective advertising slogan, "Diamonds are forever," was established in 1948 and is still going strong. "De Beers ' operating strategy has been pure and simple," says…

Gold In Utopia Every country in the world recognizes gold as a very valuable metal that people desire. The value of gold is immense because it is malleable and ductile, it is used in many industries, and it has had a high value since ancient times. Although most people perceive gold as an extremely treasured item, Thomas More presents a vastly different perception of gold in the book Utopia. Thomas More was a philosopher in England and the advisor of King Henry VIII but was killed after not…

Introduction: De Beers is an association of companies that dominate any things related to diamond such us diamond trading, diamond mining, diamond shops and industrial diamond manufacturing sectors. The company was established in 1888 by British businessman Cecil Rhodes and funded by London-based N M Rothschild & Sons bank and the South African diamond magnate Alfred Beit. They have many places for mining like Botswana, Namibia, South Africa and Canada.However; there was a big debate about some…

Commodification is the process by which material objects are turned into marketable goods with monetary value based on equivalent commodities. In relation, the Marx idea of commodity fetishism is related to this by which all value is derived from an abstract unknowable meaning, and the original meaning or use is absolutely gone. Commodification is evident Ed Kienholz’s watercolor artworks. In exchange for a service or material possession, he would offer a watercolor painting as payment. He was…