Why Playing Call of Duty Will Make You Smarter - Free Essay Example

Sample details Pages: 8 Words: 2404 Downloads: 10 Date added: 2019/05/06 Category Entertainment Essay Level High school Topics: Video Games Essay Did you like this example? The video game industry is thriving like never before. According to a 2018 study, 60% of Americans report playing video games daily (Entertainment Software Association, 2015). Red Dead Redemption 2, released by Rockstar Games in October of 2018, recently made a splash by breaking the record for the biggest opening weekend in entertainment history, raking in $725 million in its first two days. With the rise of mobile gaming and technologies like augmented and virtual reality, video games are more immersive and more accessible than ever before. As such a popular medium for play, researchers have been studying video games and the way they affect our brains since the early 80s. The most well-known and commonly replicated of these studies is whether violent video games increase violent behavior and aggressive attitudes. More recently, however, researchers have turned their attention towards other areas, and what they have found is somewhat shocking by comparison: there is evidence that video game play can significantly improve cognitive skills that help to promote learning. This paper examines recent studies conducted on video game play and attention to propose that frequent engagement in certain types of video game play is useful for people who would benefit from improved attentional control. The majority of studies that examine the link between games and cognitive processes have found that certain genres of games produce more significant results than others. Across the board, action video games have been found to have the strongest relationship to attentional control. This genre includes first- and third-person shooters, driving games, and other subgenres that emphasize real-time combat. Action games are characterized by extreme visual/temporal processing and motor response demands on the player. Players often must attend to a single item or task while continuing to monitor the surrounding areas, search for task-relevant information in a visually clutte red space, and track many independently moving items that vary in speed and may pop in and out of view at random (Green, Gorman, Bavalier, 2016, pg. 108). For these reasons, the studies discussed in this essay focus specifically on the relationship between action video games and attentional control. Researchers have tested various aspects of attentional control against action video game play. These include spatial visual attention, temporal selective attention, and attentional capacity. These skills are crucial for goal maintenance and blocking out distracting information, as well as being able to attend to multiple stimuli at once. In these studies, subjects are given tasks that require them to select and maintain task-relevant information while blocking out or ignoring distracting stimuli. Action video games, as defined above, tend to require the same things of their players, which establishes the assumption that people who play video games regularly are likely to benefit in c ertain cognitive tasks from the increased practice of these skills. The first and probably most commonly studied subset of attentional control skills paired with video games is spatial selective attention. Spatial attention is what allows us to discriminate between the important and irrelevant information in our visual field. This skill is critical for blocking out distracting stimuli when attempting to focus on a task. Imagine a first-person-shooter game in which the player suddenly has 10 enemies shooting at her. She must quickly search through the densely cluttered visual field to identify the important information: where the enemies are, where she may be able to take cover, if there are any tools or ammunition near her that may be helpful for the task of eliminating all 10 enemies. Then, she must focus on eliminating one enemy at a time, blocking out any distracting visual information that might make her shooting less accurate. Clearly in this scenario, visuospatial attention al control comes in handy. The question for researchers was one of causality: were players able to improve their spatial attention by playing the game, or were people with high spatial attentional control simply more likely to play these games because that skill makes them a better player? In 2007, Feng, Spence, and Pratt ran an experiment that addressed this question. They chose 20 subjects, all of whom reported no video game playing in the four years before the study. The subjects were randomly assigned to an experimental group that would play an action video game, or a control group who would play a 3D puzzle (non-action) video game. Subjects were then tested using a useful-field-of-vision (UFOV) task. In the UFOV task, subjects were shown a central fixation square for 600ms, followed by the stimulus display for 30ms, which consisted of 24 distraction squares, arranged in groups of three, radiating out from the fixation point in eight directions. For each trial, one of the 24 distraction squares was replaced by a dark, filled-in square. Then, the subject was shown a masking display followed by a response cue. They were asked to indicate the direction in which the target had appeared. After the initial task, subjects went through 10 hours of individually supervised gameplay, in 1-2 hour sessions over 4 weeks. At the end of the last hour of gameplay, they were given an immediate posttest on the UFOV task. All subjects were then re-tested on the UFOV task after a period of 16-24 weeks. At the end of the game training, subjects in both groups showed improved performance in their designated game. Only subjects in the experimental (action game) group, however, demonstrated significant improvement in the UFOV task. Their accuracy improved by 13% from the first task to the final one (Feng, Spence, Pratt, 2007). By performing an intervention study on subjects who were all initially considered non-video game players, Feng et al. were able to produce evidence t hat action video games, and not other kinds of video games, can significantly improve the ability to attend to and pick out important information from a large visual field. Another fascinating phenomenon relating to visual attention is that of attentional blink. This phenomenon is related to the temporal limits of attentional control and how we selectively allocate attention to different goals over time. In an attentional blink task, subjects are presented with a series of black letters, presented for 15ms, followed by a blank screen for 85ms. The subjects are instructed to look for two distinct targets: a white letter, and after the white letter is presented, the letter X in black. Subjects must report the identity of the white letter and whether or not the X appeared after the first target. When the second target is presented 200-500ms after the first, subjects often fail to report seeing it. This is referred to as attentional blink, because the attention it requires to recogni ze and remember the first target does not allow the subject to attend the second target in time. Oei and Patterson performed a study to see if action video game training had any effect on attentional blink. They gathered 75 subjects, all of whom self-reported as non-video game players. These subjects were randomly assigned to one of five groups that would be trained on either a hidden-object, match-3, memory matrix, Sims, or action game. They performed the initial attentional blink task, and then trained in their given video game for a total of 20 hours over 4 weeks. At the end of the 20 hours, they were tested again on the attentional blink task. The four non-action game groups showed no significant improvement in accuracy in the attentional blink task from pre- to post-training. But in the post-training task, the action group showed an average of about 90% accuracy (correctly identifying both targets) over all trials, whether or not the second target was presented during a 200- 500ms time span after the first (Oei and Patterson, 2013). Therefore, action video game training not only reduced, but effectively eliminated the attentional blink effect altogether. This is evidence that action video game players are able to allocate attentional resources to at least two distinct tasks in quick succession without sacrificing accuracy at either task. Finally, researchers were curious about the effect video games have on the ability to divide attention between primary and secondary tasks. Historically, divided attention tasks show that subjects perform poorly on secondary tasks if the primary tasks require large amounts of attentional resources. In action games, however, players are required to monitor and track several tasks at a time. They are often presented with multi-step main objectives, as well as having to monitor and respond to secondary information such as locations on a map, ammunition and when to reload or switch weapons, health/stamina, and various ot her tasks. Chiappe et al. put this to the test using a multi-attribute task battery, which tested four distinct tasks simultaneously. The test resembled a flight simulator, in which subjects were asked to use a joystick to maneuver a target, activate pumps to maintain fuel levels, monitor and respond to lights and dials, and perform several actions in response to auditory commands. Additionally, each test was 30 minutes long, meaning that subjects were required to maintain their attentional control over all the tasks for a potentially exhausting period of time. Similarly to the other experiments mentioned in this essay, the subject pool was made up of 53 self-reported non-video game players, who were randomly assigned to either a control group or the experimental group. The control group played no games at all, while the experimental group were required to play a minimum of 50 hours of action games over 10 weeks. Subjects in the gaming group were also allowed to play more than the m inimum amount of hours, if they so pleased. Researchers kept track of each subjects hours of play to see if increased play had any effect on the results. After the post-test, they found that the gaming group had significantly faster and more consistent reaction times to the communication instructions than in the pre-test, and made significantly fewer errors in the systems monitoring task. Researchers also found that experimental subjects who spent more hours in-game responded faster to auditory commands than those who only played the minimum 50 hours.. These two tasks that showed improvement were considered the secondary tasks, because they were less demanding on attentional resources and also were not presented in the center of the visual field like the other two tasks. So, action game players showed improvement in the secondary tasks, and importantly, this effect did not come at the cost of accuracy in the primary tasks (Chiappe et al., 2013). The ability to effectively multita sk is highly desirable in many professions, so this evidence that video games can increase attentional capacity and lessen the effects of divided attention is very valuable. These results on attention and action games have interesting implications when applied more broadly. Other forms of brain training or games marketed as learning tools tend to be highly task-specific, which means performance can improve through repetition within the same context, but may be difficult to translate to other contexts. The failure to generalize learning is heavily documented in many cognitive tasks and in various other psychological fields (Green et al., 2016, pg. 108). On the other hand, action games, simply by the nature of their format, help to generalize skills learned in-game by presenting them in various situations, locations, and with different goals or outcomes. Many multiplayer action games (Call of Duty, Halo) come with multiple maps and a variety of gametypes that require different stra tegies to win. Here, attention is required to recognize when and where different learned skills may be useful and to make quick decisions about how to apply them. Thus, the skills players learn in these games are more likely to be accessible in a new situation than a skill that was practiced only under one set of conditions. This type of generalized learning is useful in job training or in classrooms, which is why many educators and trainers are moving toward implementation of video games as part of their instruction. But job training is only the beginning of the applications of this type of research. Improved attentional control and capacity is useful to anyone, but some subsets of people might find it more beneficial than others. Video games may actually be able to be used to treat disorders that are linked to a lack of attentional control. For example, some cognitive psychologists have suggested that low attentional control may contribute to some forms of dyslexia. Dyslexia is generally recognized by the inability to decode words by matching letters and letter combinations to their respective sounds. Educators have created remedial programs based on this definition of the disorder, which tend to focus on intense instruction using the rules of phonics. But it also makes sense to think that poor visual attention may make it difficult for a person to visually discriminate between letters in a page full of text, whether they knew the letter sounds or not. An experiment by Franceschini and colleagues examined the effects of action video game play on dyslexic children. Out of twenty subjects with diagnosed dyslexia, 50% were randomly assigned to the action video game group, while the other 50% were assigned to a non-action video game group. After a pre-test in phonological decoding, subjects were trained in their respective games for a total of 12 hours before being given the post-test. The results showed that the action video game group showed significant imp rovements in decoding ability, both of real and pseudo-words, characterized by increased reading speed without a cost in accuracy. The researchers also note that the improvements made by the action game group after 12 hours of gameplay exceeded the expected improvements of a dyslexic child in one year of spontaneous reading training (Franceschini et al., 2013). While these results dont necessarily mean that dyslexia is caused exclusively by poor attentional control, it provides convincing evidence that action video games may be useful as part of remediation plans for those suffering from the disorder. Likewise, other disorders linked to a lack of attention, such as ADHD or schizophrenia, may also see benefits from the inclusion of video game play in treatment regimens. Action video games are often derided as violent, antisocial, and addicting, and many people truly believe they will rot your brain! But we are beginning to see considerable evidence to the contrary. While gameplay and screen time in moderation is always recommended, worried parents might want to think again before writing off video games as a hobby. These games can actually help us become more attentive, less susceptible to distraction, better learners and workers, and may even help to treat learning and brain disorders. Video games are no longer purely for entertainment; theyre an investment in our brains, too. Don’t waste time! Our writers will create an original "Why Playing Call of Duty Will Make You Smarter" essay for you Create order

Economic Theory Suggests That Markets Are Efficient and...

 ¡Ã‚ §Economic Theory Suggests that Markets are Efficient and Security Prices are Determined on the Basis of Fundamental Value ¡Ã‚ ¨ Market efficiency requires that security prices react immediately in an unbiased way to the receipt of new information (Robert Shiller S1998). In other words, an efficient capital market is one in which stock prices fully reflect available information. In addition, there are three conditions for market efficiency; information flows freely, market is composed of rational investors where all competing against each other with the objective of maximizing wealth and there is no market imperfections. In efficient market, investors actively compete in the market based upon perceived mispricing derived from an analysis of†¦show more content†¦Best example recently would be the internet stocks from 1996 through 2002 where the price of the internet stock roses over its fair value until the market forces the price back to its original level (Russell J. Fuller 1995). The above argument can fall into the theory of representativeness and conservatism. The principle of representativeness implies overweighting the results of small sample. Financial economists have argued that representativeness leads to overreaction in stock returns (Eugene Fama F1998). In the case of internet companies, great revenue growth for a short time in the late 1990s, causing many to believe that this growth would continue indefinitely. Stock prices rose (too much) at this point. When, at last, investors realized that this growth could not be sustained, prices plummeted. On the other hand, the theory of conservatism states that individuals adjust their beliefs too slowly to new information. A market composed of this type of investor would likely lead to stock prices that under-react in the presence of new information. This is shown in the example of earning surprises . It could be said that both representativeness and conservatism have opposite implications for stock prices. Fama reviewed the academic studies on anomalies, finding that about half of them show overreaction and about half show under-reaction. He concludes that this evidence is consistent with the marketShow MoreRelatedEssay on Share Trading Assignment2386 Words   |  10 Pagesâ€Å"beat the market†. We have  £100,000 which we can invest in the stock market however this amount must be split into two portfolios. Each portfolio will be made up of investments chosen through theories and strategies which come from either the fundamental analysis or technical analysis approaches. Fundamental analysis is method which looks at fundamental information such as competitive advantage, earnings growth, market share and quality of management to indicate a security’s future value. TechnicalRead MoreSwot Analysis : Hedge Equities1723 Words   |  7 Pagesbelieve in creating a new breed of Investors who take judicious decisions through them. 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Investing defined by MalkielRead More A Random Walk Down Wall Street Essay3853 Words   |  16 Pagesprofessional brokers and investment firms. However, Malkiel states this is a major misconception as he explains in his book â€Å"A Random Walk Down Wall Street†. What does a random walk mean? The random walk means in terms of the stock market that, à ¢â‚¬Å"short term changes in stock prices cannot be predicted†. So how does a rational investor determine which stocks to purchase to maximize returns? Chapter 1 begins by defining and determining the difference in investing and speculating. 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The traditional views  Ã‚  Ã‚  Ã‚  are  Ã‚  Ã‚  on  Ã‚  Ã‚  the  Ã‚  Ã‚  intensive  Ã‚  Ã‚  and current market price  Ã‚  Ã‚  of  Ã‚  Ã‚  Ã‚  security if the current market price securityRead MoreFinal Exam Cheat Sheet6867 Words   |  28 Pagescapital, create the market for innovative new securities that meet the risk and return demand (CMOs, collateralized mortgage obligations – derivative security that separates the cash flows of a mortgage pool into different classes with different maturities and risks). risk and return are the most important characteristics of financial assets. Another is tax. 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Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2 2. Theory Assumption methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 2.1 Theory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 2.2 Cash flow model†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..2 2.3 Qualitative factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..2 2.4 Quantitative factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 2.5 financial statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 3. Application †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 3.1 Dow Jones †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 3.2 Company-Read MoreCapital Markets, Investment and Finance Essay8037 Words   |  33 PagesCapital Markets, Investment and Finance Assignment 2009/ 2010 â€Å"No one can consistently predict either the direction of the stock market or the relative attractiveness of individual stocks and thus no one can consistently obtain better overall returns than the market. And while there are undoubtedly profitable trading opportunities that occasionally appear, these are quickly wiped out once they become known. No one person or institution has yet to produce a long-term, consistent record of findingRead MoreFinancial Market Institution17199 Words   |  69 Pages19843_05_c05_p141-172.qxd 12/7/05 9:43 AM Page 141 C H APTE R 5 FINANCIAL MARKETS AND INSTITUTIONS A Strong Financial System Is Necessary for a Growing and Prosperous Economy Financial managers and investors don’t operate in a vacuum—they make decisions within a large and complex financial environment. This environment includes financial markets and institutions, tax and regulatory policies, and the state of the economy. The environment both determines the available financial

Units and Generate Economic Resources System †Assignmenthelp.com

Question: Discuss about the Units and Generate Economic Resources System. Answer: Introduction Impairment of the assets refers to any deduction in value of assets owned by the company. These assets are referred as the cash generating units and they generate economic resources in future for the definite time period. This accounting report aims to carry out the analysis that will examine implication of impairment of assets in the Myer Holdings Limited. IAS 36 deals with the impairment of assets and provides detailed provisions on how the impairment of assets is done. According to this standard the carrying or writing value of the assets must be greater than its recoverable amount (Collings, 2015). This report will guide through the need, process and data required by the Myer Holding Limited to carry out the impairment testing for their respective CGUs. Evidence that provides need to carry out the impairment testing of CGUs or Assets in context to Myer Holdings In order to find out which CGUs or Assets are needed to make the impairment, there is needed to make division of assets into tangible and intangible assets. Below are the some points that provide the information on whether it is required to carry out impairment or not with respect to Myer Holding Limited. Assets recognition and change in value: After making the analysis of the financial statements of the Myer Group it can be said that the flow of assets has been relatively same and there was no proof that there has been any decline in the value of assets over the past years. As there is no major change in the value of assets it can be said that there is no indication of impairment of assets (Hussey, 2010). Carrying value of the assets: Carrying value of assets means the value that the asset carries in the balance sheet. In order to make reference to impairment testing it is necessary to check any change in value at the end of year as compared with the previous year. It has been found that there is no such change in the value of assets in the past years (Myer Holdings Limited 2016 Annual Report, 2016). Assets turnover ratio: Assets turnover ratio means value of total assets to the total revenue of the company. This ratio shows any change in total assets in relation to the revenue. It has been evaluated that there was similar asset turnover ratio during the past few years that indicates that there is no requirement to carry out the impairment testing (Myer Holdings Limited 2016 Annual Report, 2016). In order to determine the impairment of assets the Myer Holding has used the discounted cash flow model. As indicated in the annual report of the company in year 2016, the value of goodwill is being taken as $27.1 million and life of the goodwill has been as taken as indefinite. The goodwill is being the most important of the business, it cannot be dividend on individual basis to each Cash Generating Units of the group, and so whole amount of the goodwill is being distributed to the business as whole. In order to carry out the impairment of goodwill there is need to find out the recoverable amount that such asset will provide in future years(Myer Holdings Limited 2016 Annual Report, 2016). For this purpose value in use of the goodwill is compared with the recoverable amount of goodwill and any difference is termed as impairment amount which has to be deducted to measure the actual carrying value of goodwill for that year. For the rest of assets impairment is carried through same meth od but the life of assets has been taken on the basis of their productivity. In order to calculate the discounted cash flow from the assets, management has used projections over the five years on the basis of the financial budgets and growth rate. To find the cash flow projections company has used major assumptions like sales growth and gross profit margin. Sensitivity analysis has been performed at the given level of cash flows over the carrying value of assets and this analysis indicates that there are no changes in the key assumptions taken by the management. Overall analysis of the impairment shows that carrying amount of the assets is not more than their recoverable amount. All the details procedure and policies are being disclosed by the company in their annual report (Myer Holdings Limited 2016 Annual Report, 2016). Some other non current assets are reviewed for the purpose of impairment testing on the basis of change in value noticed and it has been found that there is carrying value of these assets. It has been analyzed that there is no impact on the cash flow from main CGUs of the company due to any change in other non current assets. Information needed to carry out the impairment process The Myer Holdings Ltd has incorporated the use of AASB 136 and IAS 36 for reporting the impairment of its nonfinancial assets. The Group for asset impairment testing needs to possess information about carrying value and recoverable amount of assets. The recoverable amount of an asset is the amount higher of its fair value less costs to sell and the value in use. The asset or a particular CGU of the group is impaired if the carrying amount of the asset is greater than its recoverable amount. The Group at each reporting date needs to measure the carrying value and recoverable amount of assets for identifying their impairment. The information about the indicators determining the asset impairment needs to be gathered by the Group through both external and internal sources (Impairment accounting the basics of IAS 36 Impairment of Assets, 2011). The external sources include market interest rates, changes in technological, social and legal environment of the entity and its market capitaliz ation. On the other hand, internal sources include internal structure of the entity or physical condition of the assets. However, goodwill is subjected for impairment testing, whether there shows an indication of its impairment or not on an annual basis. The CGU of the asset to be impaired is determined for comparing the carrying value and recoverable amount for that particular CGU. The goodwill is allocated to a group of CGUs if it cannot be assigned to an individual CGU (Myer Holdings Limited 2016 Annual Report, 2016). The loss arising from the asset impairment is recognized as an expense in profit or loss for assets carried at cost. The impairment loss in the case of revalue asset is primarily recorded against its previous revaluation gains. The Group also needs to determine the projected value of future cash-flows that is estimated to be realized from an individual asset or a CGU through the use of VIU approach. The estimated value of future cash flows from an asset develops the basis of its impairment testing. The information required by Myer for asset impairment can be summarized by the help of following diagram: Impairment of assets is the ongoing procedure and company has to perform it every year. There is change in value of assets year by year and company has to perform the impairment testing in each year to determine the recoverable amount of the assets. As company uses the set format to determine the assets that are needed to be impaired and if any assets has been found needs to impair than its recoverable is being measured through proper channel fixed by the management. So it can be said that every set of procedures needed to impair the assets are well written and sincerely followed by the people in management (Impairment accounting the basics of IAS 36 Impairment of Assets, 2011). Assumptions needed to carry out the impairment process are taken on the basis that is mentioned in IAS 36 Impairment of Assets. As all the process is effectively followed by the management in determining any change in carrying value of assets, it makes very flexible to the management. Conclusion The above analysis reflects that impairment of assets is not the major issue for the management as all the process goes very smoothly as mentioned in IAS 36. It is advised to the management to follow ongoing procedure to carry out the impairment of assets. References Collings, S. 2015. Interpretation and Application of UK GAAP: For Accounting Periods Commencing On or After 1 January 2015. John Wiley Sons. Hussey, R. 2010. Fundamentals of International Financial Accounting and Reporting. World Scientific Publishing Company. Impairment accounting the basics of IAS 36 Impairment of Assets. 2011. [Online]. Available at: https://www.ey.com/Publication/vwLUAssets/Impairment_accounting_the_basics_of_IAS_36_Impairment_of_Assets/$FILE/Impairment_accounting_IAS_36.pdf [Accessed on: 26 August, 2017]. Myer Holdings Limited 2016 Annual Report. 2016. [Online]. Available at: https://investor.myer.com.au/FormBuilder/_Resource/_module/dGngnzELxUikQxL5gb1cgA/file/Myer_Annual_Report_2016.pdf [Accessed on: 26 August, 2017].

King Arthur And Camelot Essays - Holy Grail, Mythological Kings

King Arthur and Camelot King Arthur and Camelot The Arthurian Legends are a cycle of stories that has been shaped and passed down through over fourteen hundred years of English history. The legend of King Arthur tells of the adventures of an early king of Britain and the knights and ladies who made up his royal court at Camelot. It tells of a world filled with warriors armed with lance, sword, and armor. It speaks of jousts, tournaments, wizards, falconry, enchantresses, damsels in distress, wars, quests, and the code of chivalry. It is a legend that talks of a great king who came to throne from what seemed to be nowhere and of a noble idea that ends in tragedy. I suppose, the version we know best is the one that was composed in the 15th century. This is the great English version of the story, compiled out of earlier versions by the creative genius of a rather mysterious and cryptic figure, the knight, Sir Thomas Malory. The main characters in romance literature are larger than life. Romance literature is concerned with the feats of kings, queens, and knights---not with common, ordinary people. They follow a code of chivalry. A main character in romance literature is braver, nobler, and more honorable than an ordinary human. Oftentimes, the medieval period in general, and King Arthur in particular, have an air of mystery, romance, fantasy, and adventure that are popular themes in all times and cultures. We see King Arthur's magical powers when Sir Bedivere throws Excalibur into the lake, causing lightning to strike in the splendor of the moon. Main characters in romance literature are god-like characters that have no fear, retain their youthful qualities as they age, and never become a victim of sickness. Sometimes a main character in a romance is motivated by love. Morte d' Arthur is a mysterious, magical and perhaps realistic view of the medieval period. If the name of King Arthur is mentioned, I suppose what comes to mind is not so much one person as a whole array of characters and themes, a montage so to speak. Of course we do think first of the King, the magnificent monarch of a glorified or idealized medieval realm. But we think also of his Queen, of the fair and wayward Geneviere, we think of his enchanter, Merlin, who presided over his birth, who set him on the throne, who established him there in the early and traveled days of his reign. There were the Knights of the Round Table, vowed to the highest ideals of chivalry, and the greatest of them, Sir Lancelot, who, of course, has a tragic love affair with the Queen. We think of the place where these people assembled, Camelot, Arthur's magnificent, personal castle and capital and then, there are stranger things; the story of the quest for the Holy Grail, giving a spiritual dimension to the whole story. There is magic, not only the magic of Merlin but also the magic of his strange, ambiguous student, the women, and the enchantress, Morgan LaFay. And at the end is the tragedy of Arthur's downfall, his passing away at the isle of Avalon, which has been shrouded in secrecy. In Arthurian literature, Mordred turns the Knights against each other, which destroys the Round Table and brings King Arthur's entire world crashing down. One cannot help but wonder about the part that fate played in the society where the legends of King Arthur were created. Case in point, had Lancelot not decided to come to Camelot to join in the Round Table, and Mordred had never been told that Arthur was his father, Camelot may have never been destroyed. A law was made a distant moon ago here, July and August cannot be too hot. And there's a legal limit to the snow here in Camelot ... In that legendary story, a few key events transformed Camelot from a utopian kingdom into a wasteland. King Arthur is nothing but a nave idealist. His dream, or should I say fantasy of Camelot is nothing but an illusion. Arthur's leadership is based on emotional seduction not on power. "I have loste mygh forty knyghtes and also the noblefelyshyp of sir Launcelot and hys blood, for now I may nevermore holde hem togydirs with my worshyp." It is power and fear that make a kingdom great not dreamy words of idealism. Arthur is a sinner just like Geneviere by having a son that he never loved and neglecting his queen-wife-adulteress Geneviere. And he knows of her affair, it is the gossip of all