Corporate Accounting and Impairment of Assets

Question: Discuss about the Corporate Accounting and Impairment of Assets. Answer: Introduction This report is made for Longreach Ltd management to give them an idea about the implementation of impairment test of assets. The company has decided to undergo a practice of impairment testing of their assets as per the Australian Accounting Standard Board standard no 136 on 30the June 2014. As thy are new applicant of this standard, they are keen to understand the process of impairment testing of different assets along with the process of impairment testing to be done to reach the real value of assets with the present context and thus to evaluate the company valuation of tangible and intangible assets including goodwill of the company. As I was approached to guide them regarding this subject, I will highlight different aspects of impairment test of assets including the objective of impairment test of assets, the implication of goodwill in the practice of impairment of assets, and the basic steps to be followed for impairment testing of assets. This report will highlight the above is sues to make the management of Longreach Ltd understand the implication of this activity to comply with AASB 136 which is being endorsed by the Corporation Act 2001 of Australia(Aasb, 2009). Main purpose of Impairment testing of Assets Main purpose of this application is endorsed by AASB Standard 136. This is as per guideline fixed by Section 334 of Corporation Act 2001. This standard has been placed for further discussion by the critiques on 15th July 2004. This discussion is meant for highlighting the shortcomings and positivity of the application enforced through this standard. Further this standard is being enforced finally since 1st July 2007 for the corporate entities after the finalization. The enhanced version of impairment testing standard vide Standard 136 had replaced erstwhile AASB standard 116(Austlii, 2001). Main objective of AASB 136 is for implementation of standardized platform which is logical for the application of impairment valuation of assets. This standard is being implemented for the impact on financial statements of the corporate to ensure International Accounting Standard 36. To make the convergence effort with IASB, AASB had implemented several accounting standards for the globalization of their accounting standard. As financial statements of the company is projecting the financial performance, it is obligatory of the Board of Directors to implement several standards to make the stakeholders understand the actual financial position of the company. The annual financial reporting of the company is the main resource through which stakeholders can understand the actual financial position of the company. This is instrumental for different stakeholders to make future decision. Impairment testing of assets can find the true value of the assets in real time factor. The main purpose of impairment testing of assets is to reach the present value of asset by considering several factors which are instrumental for this practice. It is mandatory for the Board of Directors to make proper disclosure of impairment testing of assets with certification along with subsequent certification by auditors. This is mandatory for business identities that are practicing the preparation of financial report as per specification made in Part 2M.3 of Corporation Act of 2001 for General Purpose Financial Report or GPFR(Aasb, 2015). Goodwill and its impact on Impairment testing of assets To identify goodwill in the accounting procedure of any entity, it is mainly distinguished as intangible assets. This asset is there to derive the value of the entity not in monetary standard neither it can add value to the cash flow of the entity. The impact of goodwill in respect of impairment of assets is being discussed in AASB Standard 136 through its paragraphs with nos. 80 to 84(Aasb, 2011). Paragraph 80 of the standard 136 had emphasized on the basic fact of consideration that goodwill of any business should be treated as per the guideline which directs the allocation of cash generating units of any business entity. It is also defined that valuation of goodwill as allocated to any business organization is determinant for representation of minimum valuation within the business entity as considered by internal assessment by the management of the entity. Proper guideline to this aspect is being directed through AASB 8 which had made restriction of the value of goodwill within the value of operating segment of the entity(Aasb, 2011). Paragraph 81 of AASB Standard 136 is there to define the process of recognition of goodwill along with clarifying the treatment of goodwill as an asset which is with the nature of non-recognizable with non-identifiable so far its existence for material value is concerned. This paragraph is also emphasizing on the fact that goodwill can not dictate feature of cash flow for any asset of the business entity. On the other hand it has the ability to add value for different units which are instrumental for generation of cash of the specific business entity(Aasb, 2007). Paragraphs 82 to 84 are providing direction for the business entities to be followed for ensuring proper evaluation of impairment testing of goodwill as per decision made by the management along with specific allocation of the same(Aasb, 2015). Basic steps for application of impairment testing of assets As per Standard 136 of AASB, six probable steps are identified to apply impairment testing of assets. They are: Life of Cash Generating Units or CGU Working Capital Movement Entitys Capital Expenditure Flow Payment of tax for derivation of benefit from interest Industry Discount Rate Terminal or Perpetual value of EBIT or EBITDA along with projection of future cash flow(Ey, 2008). Conclusion The concept of impairment testing of assets is being considered to make proper evaluation of assets with derivation of present value in comparison to fair value of assets. This concept had been endorsed by different globally acclaimed accounting standards to provide better level of financial information to the stakeholders enabling them to decide judiciously. Logreach Ltd, being a new entity to start this practice in their financial practices, had asked for the suggestions for proper implementation of this standard and the above discussion will give proper guideline form them so far its application is concerned. Case Study of impairment testing of Assets Crossbow Ltd It is found in the case study of Crossbow Ltd that this business entity has opted for practicing of impairment test of their assets to arrive at the present value of their assets. This practice is being prescribed to understand the real value of the company so far its assets are concerned in the changed scenario of business decrement. It is being observed that the company is facing business loss due to change of customers fascination towards online platform rather that going to the Crossbow outlets for purchase of goods. It is also observed that the decrement of business is also affected due to stiff global competition. In this scenario the company had opted for impairment testing of assets which had found impairment loss of $ 260,000 as the fair value of assets, booked in the accounts was $1,680,000 had been impaired to $1,420,000 which was resulted as such loss as per the experts deployed by the company and with the proper application of AASB standard 136. This result is not specif ic asset-wise; instead the same had been arrived at by generalized practice as prescribed in AASB standard 136. The respective journal entry related to booking of this impairment loss is furnished below: Journal Entries- Impairment loss of CrossBow Ltd as per as on 30.06.2015 Date Particulars amount amount 30.06.2015 Impairment loss of assets A/c debit $260,000 Accumulated Impairment Loss A/c Credit $260,000 Evaluation done as per impairment testing of Crossbow Ltd as on 30.06.2015 It is also observed that while the company had sold land, the same had incurred loss of $29,000 which had been arrived at by considering the fair value of land as $ 200,000 though the consolidated financial statement of the company as on 30.06.2015 and the recovered amount from sales proceeds of $ 171,000 of the land which had incurred loss of $ 29,000. This is to be booked in the books of accounts of Crossbow Ltd as below: Journal Entries loss from sale of land - CrossBow Ltd as on 30.06.2015 30.06.2015 Accumulated Impairment Loss A/c Debit $29,000 Land A/c Credit $29,000 Being the loss on land booked through sale With the above journal, the generalized Accumulated Impairment Loss A/c is being reduced by $ 29,000 through the actual sale of land with subsequent loss incurred by the company. References: Aasb, 2007. Impairment of Assets. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPapr07_07-07.pdf [Accessed 18 January 2017]. Aasb, 2009. Impairment of Assets. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPjun09_01-10.pdf [Accessed 10 January 2017]. Aasb, 2011. Fair Value Measurement. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB13_09-11.pdf [Accessed 18 January 2017]. Aasb, 2011. Investments in Associates and Joint Ventures. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB128_08-11.pdf [Accessed 18 January 2017]. Aasb, 2015. Presentation of Financial Statements. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB101_07-15.pdf [Accessed 18 January 2017]. Aasb, 2015. Presentation of Financial Statements. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB101_07-15.pdf [Accessed 18 January 2017]. Austlii, 2001. CORPORATIONS ACT 2001 - SECT 334. [Online] Available at: https://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s334.html [Accessed 18 January 2017]. Ey, 2008. Impairment accounting the basics of IAS 36 Impairment of Assets. [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 18 January 2017].

Taking Responsibility Essays - School Shooting, Internet

Taking Responsibility Taking Responsibility 1999 must be a great year to be alive if you are a criminal! Nobody takes responsibility for his or her own actions anymore. Someone commits a heinous crime, and anything but the criminal gets blamed. It was a harsh childhood, abusive parents, violent movies and video games, the availability of guns and bomb making materials, the Internet, pornography, peer pressure, etc. In my mind, if you commit a crime, then you are a criminal. I am the only one that makes the decisions I make in life. Others may influence my decisions, but ultimately, I am the one that makes that final choice. No matter how hard and pathetic you think your life is, or how badly society treats you, or what you watch on TV, or what you can buy from the store or read on the Internet, you made the decision to break the law-nobody made the decision for you. Oliver Stone didn't tell you to watch Natural Born Killers and then go mimic the crimes. The NRA did not make you illegally purchase guns. The Internet did not force you to download recipes for bombs. The massacre at Columbine High School was a tragedy. Instead of looking at these kids that committed the crime and putting blame where it belongs, everyone was more than willing to point a quick finger of blame so they could feel better somehow. Unfortunately, some have used this tragedy as nothing more than an event to be exploited for their own political gains. People that are afraid of the Internet were quick to point out that Nazi and hate propaganda and bomb-making recipes are easily accessed on the Internet, and that "alternative" ideas seem to flourish on the Internet. Immediately everyone wants to censor the hell out of the Internet and keep their kids away from it. They fail to mention the business and education values of the Internet, and dwell on the negative. Antigun people quickly "forget" about the 60+ bombs that were found and focused merely on the fact that firearms were used by these psychos. They immediately want more gun laws and bans (but fail to mention that dozens of existing gun laws were broken by these boys as it is, and that the laws now being proposed in the aftermath would not have prevented this sort of thing). Others quickly point out that these kids played violent arcade games and watched violent movies--ban these things as well. People that don't like or understand new music blame Marilyn Manson and other alternative and/or metal bands. Am I the only one that is saying, "These kids were psychos that should have been stopped before it got this far?" These kids already had criminal records. They wore Nazi paraphernalia to school, they threatened other kids. They had Web pages detailing their bombs and various hate messages. They managed to amass bomb-making materials right in their homes. They got older friends to buy guns for them, et cetera. Did nobody notice this? Where were the parents when these kids were building BOMBS right in the garage? Am I the only one saying, "I use the Internet. I watch violent movies. I play video games. I've listened to heavy metal music. I have been ridiculed by classmates, but I've never even thought about killing anybody!" I have seen Natural Born Killers. I have played Doom. I've listened to black metal. I own several swords used in martial arts practice. I use the Internet everyday. As far as the finger-pointing crowd goes, I must seem like the most dangerous person in America. And yet I haven't committed a school massacre. I have never wanted to, nor will I ever. And yet all these things are somehow to blame for these kids going nuts and attacking their fellow classmates at school. Can we stop the finger-pointing for just a second to realize these two kids, and these two kids alone (unless it is proven there were other conspirators involved), made the decision to go into that school and set off bombs and shoot at minorities and jocks? I take full responsibility for my actions, and I navely expect others to do the same. Maybe I should just point fingers and blame others for bad stuff that happens to me. Sorry, but I take too much pride in working for what I want out of life instead of sitting back and blaming others for what I don't have. And in the same respect, if I screw up, I admit that I screwed up. Nobody's fault but my

Our Education System Needs to Be Improved essays

Our Education System Needs to Be Improved essays Our Education System Needs To Be Improved Education plays an important role in our society, which is the key of success for our future. This is why everybody has the obligation to go to school. Therefore, education system shall be considerate seriously. In What Our Education System Needs is More Fs, Carl Singleton suggests that our education system need to be improved by failing students. He states that teachers have tendency to pass unfaithfully students for more than 20 years, which means that teachers pass students who dont deserve to pass. The reason is that teachers dont want to feel guilty by failing them, so they quite change their grading standard. Another reason to increase the number of grade F is to eliminate illiterate graduate students from high school. Therefore, students who deserve to go to college will be able to read and write well. He also mentioned that the grade F would pull the parents attention to their childrens education, and makes the school boards and principals aware of the degradation of the education system. Finally, Singleton proposes that all teachers should respect the standard grading line in order to keep the education system in a good shape. Singletons arguments imply that the education system is getting worse from days to days because there are more and more graduates with lower quality knowledge. He also conveys that teachers easily pass students because teachers want to have a lower rate of failed students in their class, and proving that their teaching methods are efficient. Without Fs nobody would knows that the systems is in troubles. Moreover, school board and principal would ignore the issue, which help to save money and avoid futures difficulties management such as overload classes with those who have to repeat the class. Singleton insights that school doesnt want to take their responsibilities to fail students because th...

10 Activities That Will Make Your Trip to Germany Special

10 Activities That Will Make Your Trip to Germany Special Top 10 Things to See and Do in Germany Travelers are often attracted by different exotic options and unexplored routes that promise new emotions and unforgettable impressions. It is quite understandable, since tourism has become very developed sphere and a life passion for many people. Though along with the original and extraordinary trip opportunities, Europe remains the unfailing focal point of sight-seeing. Its priceless architecture, cultural and art heritage and original atmosphere represent the endless source for touristic inspiration and attraction. If you made your decision in favor of the sophisticated European sights, in particular Germany, we will advise you ten things and places that you shouldn’t miss in this country. Visit the Semperoper Opera in Dresden Even if you are not very fond of opera and ballet, this opera is really worth seeing. It fascinates by magnificent architecture and luxurious interiors. Being built in 1841, it represents the historical, architectural and cultural masterpiece, which dazzles and astonishes its visitors with beauty. The Semperoper Opera offers numerous operas and ballet performances and you for sure will find something to your taste. Besides the very first opera, which was performed here is the opera written by German composer Carl Maria von Weber. Take a tour or buy a ticket to one of the performances and view this outstanding and pompous sight with your own eyes. Spend Spring in Bonn Spring is the special part of the year, which brings inspiration; desire to live, to create and to make something original in this world. Moreover, we are sure that if you meet spring in unique and remarkable places, it will endow you with a lot more impressions, encouragement and delight. Undoubtedly, Bohn is one of such places. Its Heerstrasse or Cherry Blossom Avenue is adored by all tourists in spring due to its pink splendid blossoms. In the Internet you can find thousands of photos of the Cherry Blossom Avenue but they can be hardly compared with viewing it in person. So if you have free April, head for Bohn, enjoy beauty of blossom, walk through the city center and visit famous Beethoven’s House, everything is nearby. Calm Nerves in the Tropical Islands Resort This place helps to change every day routine and take you away from all troubles. Here you forget about rush and schedule and enjoy dozens of entertaining activities for the whole family. The park is opened 24 hours a day and offers sandy beaches, waterfalls, rainforests, waterslides, the Shopping Boulevard and acrobatic performances. Here you become the combination of different activities and a great opportunity of entertainment this spring. Try Ski Jumping in Steinach This offer seems pretty risky and unsafe from the first side. However, no one is born with the ability and knowledge in a certain sphere. A lot of people search for new sources of emotions and adrenaline burst and ski jumping is the right thing. Rennsteig Outdoor Center in Steinach provides numerous courses and decent level of safety. Thus, we advise you to consider the possibility of having 150-meter ski jump this spring. Take Wine Tasting Tour in Cochem Cochem is famous by its vineyards and picturesque landscapes and if you like nature and wine, trip to this town will be a great choice. Go on foot or rent a bicycle and set out on a journey. Besides except wine tasting there are a lot of other things to do. The architecture in Cochem is remarkable and attractive; in particular Cochem’s Imperial Castle is one of its greatest masterpieces. The town is not big but there are a lot of things to see and to do, so this touristic destination is an excellent choice for a weekend trip. Hike in Saxon Switzerland Both professionals and amateurs will find great opportunity for hiking in the beautiful area along the Elbe River. There are about 1000 peaks, which attracts hikers with the awesome views. Especially, we should mention a famous and fascinating rock formation – Bastei. Wooden bridge, which connects several rocks, uncovers unforgettable and stunning views. Combine extreme experience with the fascination of the nature beauty in Saxon Switzerland and enjoy every moment of this. Go to Lichtenstein Castle Feeling attraction to medieval period of time, one should not miss an opportunity to visit the Lichtenstein Castle. It is situated on the cliff in Swabian Alps and is a beloved attraction for tourists. It is significant that by going to the castle you explore the history and admire the nature. The interior of the castle represents armory, paintings, medieval furniture, you have everything to deep into the life of those times. Attend Cultural Events in Heidelberg Heidelberg is a popular tourist destination. The city offers for its visitors a lot of architectural attractions: Medieval and Baroque buildings, ruins of the famous Renaissance castle, the oldest university in Germany. However, architecture is not the only reason of influx of tourists. There are a lot of cultural events held in the city. They are various music, theater and art festivals and numerous entertaining and cultural events. Visit Bavarian Alps Are you looking for fresh mountain air and interesting activities that can distract you from academic or business activities? There is such place in southern Bavaria, where the Alps are situated. Here you can find a lot of outdoor activities: skiing and snowboarding in winter, cycling, hiking and camping in summer. Also there are a lot of different events, festivals and spa resorts. There is a wide choice for any preferences. Visit Munich Munich is the capital of Bavaria and is often called one of the most beautiful cities in Germany. It attracts visitors by its geographic location, since it is situated in the backdrop of the Alps. Munich has a remarkable architecture, outstanding museums and a lot of other interesting sites. In October Munich becomes the center of all beer lovers due to its annual beer festival. Munich is more than just a city, it is the spirit, and it is the atmosphere, which should be witnessed at least once in the life. As you see, there is a lot of exiting things to do in Germany this spring and all the year round. Do not miss your chance and indulge yourself with the unforgettable trips!

Women and their Rights to Sexual and Reproductive Health Essay

Women and their Rights to Sexual and Reproductive Health - Essay Example This system of patriarchy is supported and intensified by our society through the continuous reinforcement of the male domination via different institutions such as religion, government, economy, family, and often than not, the institution of education as well. Likewise, one among the roles being played by these social institutions is the shaping of gender roles between men and women. It is the case that how people are supposed to behave and how they act are something that is already influenced and anticipated by the society. On the one hand, the unjust power dynamics between men and women has affected greatly women in our society in general. It is not just the old, middle – aged, young, or even those females who are not born yet who are affected but generally, all women are troubled. This is for the reason that women are clearly situated at a disadvantageous point because of the unfair and unequal power relations between men and women. Women are considered as second class cit izens who are powerless and need to depend on men. Women lack the power to control their lives and even to rule over their own body since the normative standard expects men to dominate over women. Because of the fact that women cannot even have power over their own bodies, they are not given priority and are usually ignored to have the rights to the sexual and reproductive health. In this regard, this argumentative paper will dwell on the position that women, who lack the control over their bodies, must have the rights to their sexual and reproductive health. I am saying this not just on behalf of those women who are infected by sexual infections and diseases, but I am stating this on behalf of all the women. Not all women may have the full awareness that they are limited because of gender but just accept what the society dictates them. However, sexual and reproductive health is one of the many things that women do not have. Thus, they should have these rights as women. Human immuno deficiency virus (HIV) and acquired immune deficiency syndrome (AIDS), as stated by Amzat and Abdullahi (2008), has turned out to be a challenging global health concern for having around 40 million infected people in Africa. Indeed, this health issue is indeed a global concern but the condition of Africa is something that is really shocking. It is the case that seven (7) out of ten (10) infected with the disease are residing at this region. What contributes to this bulk number of infected people is not just the lack of awareness of having protected sex and the lack of safe sex practice however, according to the United Nations Development Programme – Pacific Centre’s (UNDPPC) (2009) report, there is a close connection between the spread of HIV as well as the distinct and unfair experiences of women and men and together with the unjust power relations between them that leads to the gender – based discrimination of different sorts suffered by women. Moreover, the r esult of the new report has been consistent to the United Nations’ old report in 1996. Both have asserted that gender is still suggested to be considered as a concern in order to address, stop and invert the increase of HIV as well as the other sexually transmitted diseases (STDs). The case of the spread of HIV in the Pacific is marked by risky sexual behaviors of men who have happened to hold more social power and have more freedom in having sexual activities as compared to women (UNDPPC, 2009). Meanwhile, the society has constructed its ideas on masculinity whose common features link to their likelihood of acquiring this sexual infection. Men’s physical and sexual prowess together with their authority in the society has altered the

New Ideas in Lighting Get Closer to Market Research Paper

New Ideas in Lighting Get Closer to Market - Research Paper Example The scope of saving energy and the techniques required may vary from place to place but it is regarded switching to more eco-friendly and energy efficient source as it helps in reducing the CO2 emissions by a significant number (CARDWELL, 2014). Adapting to energy efficient sources usually costs more money up-front but in many cases the capital outlay will be paid back in the form of reduced energy costs within a short period of time. This makes switching to energy efficient sources more attractive and budget friendly. In order to conserve and save energy in terms of light bulbs, green lights are the most efficient option available today to save more energy. Incandascent bulbs have been the mainstream bulbs we have known. Incandescent use more electricity during the process of production of heat hence they are short-lived and need constant replacement. Usually homeowners would argue that energy saver lights such as the LED and other energy saver bulbs or energy saver light bulbs are less expensive than ever before and provide superior light quality, and quickly payback in the form of saving energy and reducing replacement costs. LED lights are more affordable and flexible now. These incredibly efficient and technologically advanced lights will be the lights used in future. There are other lights bulbs which are also energy efficient, such as the CFL (compact florescent lights), which have come a long way and can be fitted into the same socket as the incandescent bulbs (smartandgreen.eu, 2014). This is the most common type of lighting in homes, owing to the fact that it is affordable and comes in a vast range of sizes, shapes, and wattages. The drawback of these bulbs, however, is that they are inefficient. They produce light by heating a solid material until that material produces a glow. In the process, much energy is consumed as a result of the heat that is produced. As a

The Great Gatsby and a good man is hard to find Essay Example for Free

The Great Gatsby and a good man is hard to find Essay There are so many ways and means that man evolve himself into: his pursuits of his dreams, his conduct of his life as he sees it fit; his definition and interpretation of the other lives that revolve around his own life. The parallelism and yet paradoxically the extreme difference in the central characters of â€Å"The Great Gatsby† and â€Å"A Good Man is Hard to Find† – illustrate the variances and also the similarities in the lives of two different men. It is therefore necessary for man to be properly guided by his perspective in life to enable him gain his rightful place in society and in this life. The Great Gatsby: Stocks and bond became an intriguing business in the 20’s and thus it lured a curious, young, business neophyte – Nick Carraway. From his hometown in Minnesota, he moved to New York to pursue the burgeoning promise of wealth. Nick lived in a house he rents in Long Island New York in the area of the wealthy in West Egg district. He soon learned that his neighbors are all socially well connected and established with newfound wealth that makes them all aggressive, dreamy, gregarious and showy. One such neighbor is Jay Gatsby. In Gatsby’s magnificent mansion, fabulous parties and guests happen every time. And what unfolds to Nick are circumstances that mixes all the decadence there could be. Nick is distinctive from his West Egg neighbors because he is a Yale graduate and has nevertheless established connections with the high society of the East Egg district of Long Island. Nick has a cousin that lives in East Egg, Daisy Buchanan. Daisy is married to Tom, who was Nick’s former classmate in Yale University. During one visit of Nick to his cousin, Daisy and Tom introduced Nick to a beautiful young girl, Jordan Baker. Nick and Jordan become besotted, fell in love and carried a romantic affair. It was Jordan who confessed to Nick about the true state of the marriage of his cousin Daisy and Tom. It is because Tom is carrying an extra marital affair with a certain Myrtle Wilson. Myrtle lives in a not so impressive neighborhood in a dumping ground of industrial refuses that is located between New York City and West Egg District of Long Island, called the Valley of the Ashes. Indeed it has come to pass that Tom was audacious to invite Nick to join him and Myrtle to parties. The summer that came along, Nick got an invitation from Jay Gatsby for one of his famous parties. Nick attends and finds Jordan Baker already there. It was Jordan who formally introduced Nick Carraway to Jay Gatsby. Nick was impressed by Jay a someone who is extremely gregarious, pretentious, good looking, and has a very winsome smile. It was Jordan who told Nick that Jay Gatsby and Daisy Buchanan were friends way back their days in Louisville. Jay has been in love with Daisy from day one and still carries the torch to the present time. The reason why Jay pursued his dream, his social status, his wealth were all because of Daisy whom Jay wants to impress and win her love. Therefore, inviting Nick and meeting him was for purposes of Nick arranging for Jay to meet Daisy once again. It is because Jay learned from Jordan also that Nick is the cousin of Daisy. So, Nick found a way for Jay and Daisy to meet and talk. Daisy eventually got enamoured by Jay and thus the two has an affair. To which, Tom slowly became suspicious. Inspite of Tom’s infidelity, he still feels outraged that his wife has the gall to cheat on him. Tom confronts Jay and told him that he can never truly win Daisy’s heart because what they shared is something that Jay cannot out shine. Tom also confronts Daisy and told her that she is being blinded by Jay’s status, wealth and power because she does not know and will never know that what Jay Gatsby has are all from illegal businesses. Daisy eventually realizes that she loves Tom and feels she has to sustain her loyalty to her husband. A tragedy that transpired twisted all of their fate. Myrtle Wilson, the mistress of Tom was ran over by a car and died. The car is Jay Gatsby’s car and it was driven by Daisy. Gatsby could not take to heart that Daisy will be made responsible for Myrtle’s death. Gatsby decided that he will take the blame and claim that he was the one driving. Thus, it was such that Tom told George Wilson, the husband of Myrtle – that Gatsby was the one driving the car that killed Myrtle. George therefore suspected that Gatsby and Myrtle must be having an affair. George confronts Gatsby and shoots him to his death. Then George consequently shoots himself. Nick was the one who arranged for the final services for Jay Gatsby and buries him. Nick breaks off with Jordan and completely decided to leave behind the New York City life that he thought would make him pursue his dreams of wealth, prestige and power. It is because he found himself immersed in mind boggling misery of intrigue of decadent morals, greed and values. Nick concluded that there is really no such thing that can be emulated from Jay Gatsby as the epitome of an American dream fulfilled. A Good Man is Hard to Find: The family of Bailey is due for a holiday vacation and they planned to go to Florida. However, Bailey’s grandmother prefers to go to Tennessee. To win the debate, Grandmother pointed out to her son and his family that there is an escaped convict who has murdered to so many people and is on the loose. He is called The Misfit. The family was taken to the story of the Grandmother and they decided on Tennessee. On the road for their trip, the family did not know that Grandmother sneaked out her cat in a basket. She was seated at the back of the car, together with her grandson John West and her granddaughter June Star. Bailey and his wife were seated in front with their baby. Along the way, Grandmother remember at a certain section came to her recollection as the plantation that she used to live. She insisted to her son Bailey that they should stop for a while so she could visit. Grandmother enticed the family to abide by her wishes by telling her grandchildren that the house is mysterious for it has a secret panel that leads to somewhere yet to be discovered. The children got fussy and intrigued by the story and insisted that their father follows the wish of their Grandmother to visit that house in that plantation. The road was graveled and bumpy. As they all struggled thru the uncomfortable ride, Grandmother shifts her leg and it irritated the cat. The cat escaped from the basket and crawled at Bailey’s back. This caused the accident and the car turned over. However, no one is hurt. A car is seen to be soon driving by and they all waved for help. The car stops and three men approached the family of Bailey. The three men were carrying guns. And Grandmother recognizes one of man as The Misfit himself. The Misfit told the family that they have put themselves in trouble since they recognized him. The two other male companions were told to haul the entire family in the thick woods ahead of the road and kill them. Grandmother started begging The Misfit in all sorts of manner elucidating on the Christian principle that all men are good and that The Misfit does not actually have to be mean and bad. Grandmother was trying her best to convince The Misfit that he could even be her own son but nevertheless is loved by his own parents and family and God and he should be inspired by that. Grandmother assured The Misfit that he could find happiness in prayers. To it all, The Misfit nevertheless shot and killed Grandmother. The Theme: The Great Gatsby expounded on the realities of what it takes to reach ambition and goals in life. With the scenario of a prosperous decade of the 20’s the abundance of opportunities lured the Americans to pursue the heights of anything – no matter at what cost and what it takes. As Nick said in Chapter IX: â€Å"I see now that this has been a story of the West, after all—Tom and Gatsby, Daisy and Jordan and I, were all Westerners, and perhaps we possessed some deficiency in common which made us subtly unadaptable to Eastern life. † â€Å"A Good Man is Hard to Find ventures on the ethical values and faith to be generally in every human being. The conviction of the Grandmother that she could spare her family from the ire of The Misfit is based on such principle. She pleadingly tried to convince The Misfit when she said: â€Å"Listen, you shouldn’t call yourself The Misfit because I know you’re a good man at heart. I can just look at you and tell†. The Symbol: The Valley of the Ashes is the metaphorical representation in The Great Gatsby between being a success or a failure in one’s pursuit of your dreams. It is because that stretch of dumping ground separates the old rich constituents of East Egg and the place of struggle of their dreams which is New York City The cat buried deep in the basket that which eventually escaped symbolized the means that life can unfold to bring one’s fate to an undefineable track. Grandmother, with all her imaginary, fictionalized stories to earn all her whims was finally struck by the unforeseen way that the cat could bring her to her end, inspite of all the righteousness she beholds. She just has to have her way. As her granddaughter June Star said: â€Å"She wouldn’t stay at home to be queen for a day. † Works Cited O’Connor, Flannery. â€Å"A Good Man is Hard to Find†. 1993 Rutgers University Press Fitzgerald, F. Scott â€Å"The Great Gatsby†. Hayes Barton Press