'Leases' and its impact on the financial position and performance of Essay

'Leases' and its impact on the financial position and performance of companies - Essay Example Exposure Draft ED/2013/6 'Leases' and its impact on the financial position and performance of companies Financial accounting Standards Board (FASB) and International Accounting Standards Board (IASB) has revised the Exposure Draft that outlined some proposed changes in the accounting rules for leases. The reason behind such a proposal is just to improve the comparability and quality of financial reporting, by increasing the transparency related to leverage. This signifies the use of assets in the organization in its day to day operations and the exposure to risk by entering into a lease contact. The Exposure Draft has proposed a dual approach through which identification, measurement and presentation of the cash flows and the expenses related to lease can be made. Apart from this, the board has proposed some disclosure that would facilitate the investors and other users of the financial information to understand the uncertainty of cash flow, amount and timing arising from leasing (IFRS Foundation, 2013a). This study focuses on the impact of new revised accounting standards that are fra med for leases, on the financial performance and position of the organization. Delta Airlines is a major airline, which is operating in America. It is headquartered at Atlanta, Georgia. It has an extensive network serving both domestic and international location in almost every continent except Antarctica. The organization along with its subsidiaries is operating with more than 5000 flights everyday and has approximate employee strength of about 80,000. Many of its aircrafts along with some ground facilities are taken on lease (Delta Air Lines, 2013; Delta Air Lines, Inc. 2013a). Thus, following section of the reports deals with how the revised accounting standard is going to affect the company. Lease Contacts by Delta Airlines Operating lease may act as an attractive option for the airlines industry as it increases the flexibility of the fleet, reduces the residual risk related to the aircraft for the aircraft industry and requires lower amount of capital commitment for the airline company. During the year 2012, Delta Air lines have entered into contact with T he Boeing Company and Southwest Airlines, to lease eighty eight B-717-200 aircraft. In the later part of 2012, these aircrafts were delivered. In the first fleet, 16 aircrafts were delivered and thirty six aircrafts will be delivered in 2014 and 2015 respectively. The B-717-200 aircraft that has been leased by the company will have advanced features like new and fully upgraded interiors, total seats of 110 that comprises of 15 Economy Comfort seat and 12 First Class seat, along with in-flight Wi-Fi (Delta Air Lines, Inc. 2013b). Thus, it can be expected to generate more income. Apart from this, most of the ground facilities of Delta are also on lease. Most of the lands and building that are occupied by the organization are on lease. The largest base for aircraft maintenance, principal offices, training facilities, kitchens, cargo and

Why I Want to Teach Speech or Presentation Example | Topics and Well Written Essays - 750 words

Why I Want to Teach - Speech or Presentation Example The eventualities of the experiences have made some of us to either abhor or cherish the learning part of our lives. Regardless of the experience one may have had, this piece of writing is a speech outlining the reasons why I want to be a teacher. "Teaching should be such that what is offered is perceived as a valuable gift and not as a hard duty." Albert Einstein My choice to settle on teaching as a profession was not a matter of spontaneous decision. Instead, it was a factor of a couple of years of reflection regarding the career I would like to pursue in life. I have settled on a career in education because I firmly believe that it stands out as one of the integral duties carried out in our society. I am convicted that teachers, both as an individual and collectively, have the ability to transform the world and shape it to the desirable destiny. In this profession of teaching, I remain hopeful that I will not only find an occupation and a source of living, but also I will derive p ersonal fulfillment and rejuvenation from it. I want to be part and parcel of the great pool of resourceful teachers who will one day be counted as those adhered to the true calling of teaching profession. In the words of Albert Einstein, I desire to teach such that what I offer to the students is perceived as a valuable gift and not as a hard duty. ... Furthermore, these teachers had a great mastery of communication skills and were well versed with the subject matter content. This is the exact type of teachers I desire to emulate. Nonetheless, being an open minded individual, I believe that my teaching technique would equally be anchored on a wide range of factors including my values and experiences. I want to ensure that my students learn in an environment that is secure and comfortable so that their level of steel esteem is enhanced. My experience as a student has served as an eye opener that great minds end up being unexploited to the optimum simply because the learning environment was not insecure or not conducive. Unwavering self-esteem would certainly give the student the confidence to strive and reach out for the goals they set for themselves. As a teacher, I will play an integral role in the provision of this environment to all students. I am also excited that I will have the privilege of shaping the lives of future parents and great members of the society. Often times, I find myself in a reverie imagining the pride that the teachers who taught President Obama felt when he was eventually inaugurated as the president of United States of America. I think of that and I cannot wait to start teaching. Who knows that an Obama or Hillary Clinton might be one of my students?! Many people find it hard to comprehend my unyielding passion to teaching profession. As others look at me in utter amazement, some people have chosen to level all sorts of criticisms at my â€Å"misdirected† ambition. They assert that teachers are the most lot of professionals no wonders they are ever complaining of exploitation. I do not blame them for this or neither do I hit