Ptlls 008 Roles, Responsibilities Essay Example for Free

Ptlls 008 Roles, Responsibilities Essay Important to define the terms prior to listing the entities which may impact on my work: Legislative requirement: A duty to act according to the law as defined in an Act of Parliament and usually enforceable through the courts. Code of Practice: A set of rules outlining how a person in a particular profession or situation is expected to behave. Statutory Code of Practice: A Code of Practice approved by Parliament and admissible as evidence in any legal action. The Children Act (2004) – Every Child Matters underpinned the Change For Children agenda. The Act came into being following the death of Victoria Climbie. The Act is applicable to children and vulnerable adults up to the age of 25. Focused on five specific outcomes for children: Be healthy Stay Safe Enjoy and Achieve Make a positive contribution Achieve economic well-being Protection of Children Act (1991) – gave local authorities to investigates cases of child abuse. Safeguarding Vulnerable Groups Act (2006) – introduced a vetting and barring service for those working with children and vulnerable adults. Disclosure and Barring Service (DBS) checks (previously CRB checks). Code of Professional Practice (2008) – introduced by the Lifelong Learning Sector. The code is based on 7 behaviours expected of teachers. Copyright Designs and Patents Act (1988) – relates to copying and adapting materials. The Data Protection (1998) – relates to information held on people by others. Education and Skills Act (2008) – aimed at increasing participation in learning. The Equality Act (2010) brought all the areas of discrimination: race, sex, disability, race into one Act. The 2010 Act identifies 9 areas of discrimination. Freedom Of Information Act (2000) – individuals can ask to see the information held on them Health and Safety At Work (1974) – imposes obligations on all to operate within a safe and healthy environment Human Rights Act (1998) – basic rights for all The Further Education Teacher’s Qualifications (England) Regulations (2007) – professional status for teachers in FE and a qualification route GRAVELLS, A. (2012) Preparing To Teach In The Lifelong Learning Sector 1. 2 Analyse own responsibilities for promoting equality and valuing diversity The definition of equality is to treat everybody equally, especially in terms of status, rights and opportunities. The 2010 Equality Act brought together a number of different pieces of legislation which means it is unlawful to discriminate against people on the grounds of pay, sex, race and disability. Diversity means being aware that every person is unique, not only because of their visible differences such as race, age or disability, but also non visible differences, religion, social background, economic status or political beliefs. Inclusion is about being objective and looking beyond first impressions. It’s about diversity and breaking down barriers, changing lives and promoting equality. Within my role it’s important for me to base my practice around the concepts of equality, diversity and inclusion and keep an open mind. Without an open mind I may not support all people equally to recognise their potential and achieve their aspirations. Discrimination could then be argued to have occurred as students would not have been treated equally. Particular to my role as a potential facilitator would be the areas of Differentiation Preconceived stereotypes Encouraging a wide variety of views Use of culturally diverse images and resources Learning support where appropriate 1. 3 Evaluate own role and responsibilities in lifelong learning Reflective Journal Annex A It is important to consider this question in relation to internal and external influences. My role as a facilitator is connected to the Learning Cycle. The cycle consists of five reoccurring elements. It is appropriate for me to answer this question offering examples for each element. Identify needs. Role arranging assessments to identify student need particularly in the key skill areas: numeracy, literacy and ICT Responsibility – offering information, advice and guidance on the contents of the course Plan learning Role – planning schemes of work and when it will be taught Responsibility – designing a scheme of work, lesson plans and resources Deliver/Facilitate learning Role – establish ground rules Responsibility – deal with inappropriate behaviour as it arises Assessing Learning Role – assess progress whether it be for internal purposes or national examination bodies Responsibility – offering feedback to students Evaluation Role – improve the teaching and learning process Responsibility – evaluate session taught perhaps through student reflective journals 1. 4 Review own role and responsibilities in identifying and meeting the needs of learner Reflective Journal Annex B To meet the needs of the learner, firstly I would conduct an initial assessment, particularly in the areas of key skills: literacy, numeracy and ICT. This would enable both myself and the learner to identify and agree areas where additional support was required to enhance learning Secondly I would negotiate Individual Learning Plans (ILPs) to enable both the learner and myself to set targets and monitor outcomes. Thirdly I would initiate regular tutorials where individuals could receive dedicated individual attention where achievement could be celebrated and support and help offered. Lastly, I would constantly be mindful of barriers to learning whether this be learning or personal ones. In such cases where there were issues depending on the nature of these issues I would either deal with them myself or signpost the student to an appropriate professional 2. Understand the relationships between teachers and other professionals in lifelong learning 2. 1 Analyse the boundaries between the teaching role and other professional roles There are three areas on which I intend to focus. First the teachers time is limited it therefore may be appropriate to refer a student to another professional, for example if the students wishes to discuss their career ideas, although I would feel comfortable doing this I may not have the time. I would therefore signpost them to a career expert. Secondly the teacher may not have a particular expertise and teachers should be respectful of the abilities of other professionals. For example if my computer projector broke down I would ask a technician to repair it. They would have both the expertise and health and safety knowledge to complete the task. Thirdly within the busy life of a classroom it is not always possible to meet the specific needs of the learner whether this is in respect of key skills, language barriers or personal problems. In any of the incidents it would be appropriate for me to refer them to another professional. The key is always to support the learning of the learner.

Censorship in music :: essays research papers

Censorship in music is a topic that has brought about much controversy in the past two decades. There have been many different arguments on the topic, however the question still remains as if it should be censored or it should not be censored. Before one can form an opinion on this, one must hear both sides of the argument. Some believe that music should be censored so all audiences can hear it without it containing any controversial lyrics. Others believe it should not be censored and musical artists should be able to speak, sing, rap, or rhyme freely without anyone censoring them. Whether a person finds a work obscene depends largely on his or her moral or religious beliefs. These views change with each generation and further complicate the censorship dilemma. Religious or moral beliefs have a great influence on how a person feels about censorship, and as generations pass on the common beliefs on it may change. Right now, America is more uncensored than ever. However, things were very different a few generations ago. Some people believe music should be censored. They believe some of the language musical artists use is vulgar, obscene, and crude. Also the fact that music is played on forms of media such as radio and television. Those are broadcasted to all audiences, and there are many parents that would not wish for their kids to hear foul language. So on radio and television any controversial language is either silenced, or edited out by a soft sound. Some artists make two versions of their songs; one that is made for the artist's album, which is uncensored; and one for television and radio with any controversial words change to be acceptable for all audiences. This does not include cable television, which can be audited by parents since the parents must order and pay for the channel to be viewed. When one really thinks about it, it is a violation of the First Amendment. The First Amendment guarantees the right to freedom of speech, and censorship is violating peoples' rights to say whatever they want to say. It is sometimes difficult to understand when a child gets punished for using foul language meanwhile the child's parents have the right to criticize and petition the government whenever they feel the need to do so. Many musical artists feel that when they are forced to change lyrics their rights are being violated.

Energy Efficiency

There are various sources of energy available for use. However, energy is a limited and sparse resource that is not in abundance at all places. There is an ever rising need for more energy, but the energy supply and resources are limited. As a result, people have to develop means that can enable them to survive with the small amount of energy that is available. The proper and sustainable use of energy is known as energy efficiency.Efficiency is attained through the adoption of diverse technological methods of energy preservation. Efficiency in energy use contributes to economic growth while at the same time contributing to environmental preservation. It also enhances competition and profitability. Efficient use of energy is aimed at reducing the amount of energy necessary in the production of good s and services. Research in all industries is driven towards improving production from industrial processes.These improvements occur in various ways and with different benefits. These impro vements may lower capital costs, increase yields, reduce operational costs and reduce energy and resource use. This also brings a number of enhancements including increased yield, safe working conditions and lower maintenance costs-just to mention a few. Today’s world is very competitive, and a single effort that can put a competitor a head of another is very essential.Energy conservation and efficient use may make a big difference in production costs as well as in the pricing of produce and services. The difference in prices is what determines whether a business will be successful or not. Reducing energy consumption also increases production. There is a clear relationship between energy consumption and productivity. Energy conservation improves many sectors of any business organization. Firstly, energy conservation improves the capacity of any business organization to compete against fellow competitors.The ability to cheaply produce those results from energy conservation off ers a company a competitive advantage over other fellow producers that may be operating on high production costs. Secondly, energy conservation helps in the saving of the environment; for example the use of fossil fuel and its extraction are both environmental degrading activities Therefore, any action taken towards their reduction is indeed a step towards environmental protection and conservation.Additionally, energy efficiency leads to the conservation of energy, because energy is saved for later use. Efficient use of energy also contributes to the reduction of waste within the environment. The use of most forms of energy produces some kind of waste into the environment. Examples of energy conservation may include insulation of heating systems in order to prevent heat loss and lead to the use of less cooling and heating energy.Reducing energy use results in financial saving and off sets additional costs incurred in the implementation of energy efficient technology. The reduction o f energy use is important in solving the problem of industrial greenhouse gas emissions. In some nations energy efficiency reduces dependency on international sources, and as a result; it offers security to home industries. This offers a sense of national security as well as economic security, through the reduction of imports of energy as well as the reduction of dependency.

Karl Marx And Emile Durkheim Essay - 1976 Words

Writing in the late 19th and early 20th century, during a drastic period of change, Karl Marx and Emile Durkheim, two of sociology’s most renowned thinkers, challenged multiple facets of the capitalist social structures in which they found themselves. Marx, a conflict theorist, and Durkheim, a functionalist, sought to analyze and explain capitalist society. In this brief analysis, their theories regarding the will be compared, contrasted, and critically engaged with - highlighting the differences in their theories and noting some similarities in their underlying assumptions of society. Born in 1818, Marx grew up as the world watched the aftermath of the French Revolution unfold. It’s not surprising that in a feudal society, where social mobility was limited and there were scant opportunities for fulfilling work, that a grand shift in the reach of industry, and capitalism, would have a profound impact on a young Karl Marx. At the core of his work is an emphasis on power relations and class conflict between the bourgeoisie and the proletariat – it was Marx’s belief that society remained in a state of conflict as a result of competition for limited resources, and that social order was achieved through domination by the ruling class, rather than through democracy and/or conformity; this was characterised by the division of labour, and the consequential exploitation of the working class. This earned Marx his title as a conflict theorist, as well as a reputation as aShow MoreRelatedEmile Durkheim And Karl Marx Essay1709 Words   |  7 Pages(Bratton Denham, 2014). Two of the main sociological theorists, Karl Marx and Emile Durkheim, had different understandings of the notion about the division of labor. This topic has been contested and debated by many theorists but this paper is going to focus on how Emile Durkheim and Karl Marx views this topic. Karl Marx views the division of labor as a process that alienates the individual from their work (Llorente, 2006). Marx also views the division of labor as a way for the capitalist bourgeoisieRead MoreEmile Durkheim And Karl Marx746 Words   |  3 PagesEmile Durkheim and Karl Marx are considered the founding fathers of sociology. Both men had an influence on the development of sociology. Marx and Durkheim differed in their idea of what alienation consisted of. For Marx, the issue was class conflict. While, for Durkheim, it was a disordered society trying to adapt. Although they both had different concepts of alienation, both men believed that alienation lead to a man’s dis connectedness with society and their natural state of mind. Durkheim andRead MoreKarl Marx And Emile Durkheim1149 Words   |  5 Pages Is society created by class conflicts or by religious teachings? Karl Marx and Emile Durkheim opine in a polarizing fashion on the framework and functioning of a society; one asserts that conflict shapes society, the other argues that society is a product cohesion due to the presence of the quintessential social fact, religion. Religion fosters a collective conscious on grounds of shared beliefs and values, argues Durkheim. Marx, on the other hand, claims that social classes and the conflict betweenRead MoreKarl Marx And Emile Durkheim1316 Words   |  6 Pagessurvive. However, all of that had changed when Capitalism and industrialization have been introduced to the world. Karl Marx and Emile Durkheim had different views on what the important aspects are that made up â€Å"modern† society. To Marx, the conflict between the classes and the d ivision of labour caused social structures, which, as a result, caused alienation, which, according to Marx, are important aspects of modern society. With Capitalism came along industrialization, which required workers andRead MoreEmile Durkheim vs. Karl Marx1689 Words   |  7 Pages------------------------------------------------- Emile Durkheim vs. Karl Marx Durkheim vs. Marx Introduction: For so many years, authorities from each field have deliberated normative theories to explain what holds the society together. Almost each specialist, from structural functionalism, positivism and conflict theory perspective, had contributed their works trying to illustrate main problematic to our society. In one way, one of the Emile Durkheim’s famous work is â€Å"division of labor† whichRead MoreEssay on Perspectives of Emile Durkheim and Karl Marx1215 Words   |  5 PagesPerspectives of Emile Durkheim and Karl Marx The seventeenth and eighteenth centuries were full of evolving social and economic ideas. These views of the social structure of urban society came about through the development of ideas taken from the past revolutions. As the Industrial Revolution progressed through out the world, so did the gap between the class structures. The development of a capitalist society was a very favorable goal for the upper class. By using advanced methods of productionRead MoreKarl Marx, Max Weber And Emile Durkheim1447 Words   |  6 Pageswill be a part of culture and society. Karl Marx, Max Weber, and Emile Durkheim are the top three most important figures in sociology; and although each of them viewed religion differently, I strongly believe that they understood its power, and demonstrated its importance to people and societies. As such, I will utilize all three of these great minds, to demonstrate religion as an important and permanent part of culture and society. Let s begin with Karl Marx, and his conflict theory. AccordingRead MoreKarl Marx, Emile Durkheim And Max Weber929 Words   |  4 Pagespeople did not have in the past such as getting food from the grocery store instead of having to find food on our own. Society was originally focused on a single belief, but now our society has expanded and several beliefs are now common. Karl Marx, Emile Durkheim, and Max Weber all have their own observations on social change and order and how certain things dramatically affect the outcome of a society. Marx’s view on social change is influenced by the class struggle that involved the rulingRead MoreComparison Between Karl Marx And Emile Durkheim1501 Words   |  7 Pagesurban theorists as found in Chapter 1 of the course text. (300-400 words) The two theorists i’ve decided to compare and contrast are Karl Marx and Emile Durkheim. Firstly i’ll compare them to one another. From all the readings I did and past education on these individuals I found they have a lot of the same views in regards to religion. Both Emlie Durkheim and Karl Marx believe that religion is a projection of mans hopes and desires. They both also agree that religion plays a powerful role in influencingRead MoreEmile Durkheim, Karl Marx And Max Weber1827 Words   |  8 Pages Emile Durkheim, Karl Marx and Max Weber are considered to be three canon social theorists who laid the foundation of sociology and contributed, in detailed accounts, the fundamentals of study of society. Each theorist belongs to a different school of thought and presents separate theories on how societies work. While there are bits and parts that might seem similar in each theorist’s social theory, each theorist largely differs from each other. Durkheim, Marx and Weber, among other things, also

5 Ways to Spoil Your Christmas Break

Winter break has finally begun! What an amazing time for college and university students, who are tired of all those finals, tests, essays and sleepless nights. It is time to let the problems flow away and get over all the winder troubles related to the academic process. But unfortunately, being hungry for sleep, a bunch of free time as well as an ability to do whatever they like. And this is how the Christmas break usually gets spoilt. Here’s a list of the things you shouldn’t do during the winter break. Doing nothing all day long Without a doubt, you are pretty overwhelmed by the time you have at your disposal when the time for the Christmas break comes. Finally you have an opportunity to watch all the movies you’ve been so attracted to during the college year, to hang out with your best friends as long as you can, to stay awake till the dawn just surfing on the web or texting your pal from the other part of the globe on the Facebook. But the thing is that time flies when you’re having fun! And too damn fast you realize you have spoilt such a precious time of the year. Diving into the work up to your neck So, you’ve decided to get the very first professional experience during the winter break? Well, good for you! The job will give you an opportunity to develop your skills, to master the new ones as well as to properly manage your time and get a sense of responsibility. But the only mistake students tend to make is diving too deep into the process. In other words, they slowly turn into the workaholics! Make sure to have a proper balance or work and rest, this is important. Saying â€Å"yes† to others and â€Å"no† to yourself Having a Christmas break means having a lot of free time. Knowing this makes a lot of people approach you with a great variety of demands and requests. It is good to help the others in the times of need, but make sure that saying â€Å"yes† to the other person does not get in the way with your own plans and desires. Helping your cousin to do the Christmas decoration, babysitting your little niece, helping your neighbor to grasp the sociology classes and so on – these and many other requests may come from many sides. But you’re a human being and you’re in need of rest as well as some work for your own purposes. Don’t try to be good for everyone for it is impossible. Not moving forward The whole semester is over now. And at some point you have realized that the course you’d chosen does not actually reflect your desires and interests. This is the moment when you have to follow a simple rule – â€Å"do more of what makes you happy†! And Christmas break is the most suitable time, when you can relax and think about what you really want. If you fail to do that, it means you will have to spend one more semester studying the materials you’re not keen on. Overeating Your grandmother’s apple pie, your mom’s shepherd’s pie and a bunch of cookies, salads and sweets – it’s Christmas time and the era of family dinners. When the winter break over, you discover that your favourite jeans became somehow tighter†¦Your weight goes +5 kilos and your day is simply ruined. Do not overeat! Make sure to try all the delicious dishes on the festive table but make sure not to stuff yourself as a Christmas turkey!

Paper Exam 2 History Ib - 9416 Words

N11/3/HISTX/BP2/ENG/TZ0/XX/M MARKSCHEME November 2011 HISTORY ROUTE 2 Higher Level and Standard Level Paper 2 27 pages –2– N11/3/HISTX/BP2/ENG/TZ0/XX/M This markscheme is confidential and for the exclusive use of examiners in this examination session. It is the property of the International Baccalaureate and must not be reproduced or distributed to any other person without the authorization of IB Cardiff. –3– N11/3/HISTX/BP2/ENG/TZ0/XX/M Paper 2 markbands: The following bands provide a prà ©cis of the full markbands for paper 2 published in the History guide (2008) on pages 71–74. They are intended to assist marking but must be used in conjunction with the full markbands found in the guide. For the attention of all examiners: if†¦show more content†¦Naval power can be taken to mean both surface craft (for military, but also accept merchant navy role) and the use of submarine warfare. The use of aircraft carriers can be used for either naval or sea power purposes. The contribution of air and naval power differs according to the war chosen – though there were often similarities in the use, for example, of naval power as an instrument of enforcing blockade as part of a war of attrition. This was certainly so in both world wars. Air power was greater in impact in the second of the world wars in terms of not only the type of military capacity which ex isted but also the way in which such capacity was used – for example in saturation bombing of civilian/economic targets. Such techniques were later used in other wars of the twentieth century. Whichever wars are chosen (air/naval power) there needs to be specific knowledge exhibited of the nature and impact of the technology. â€Å"Assess† does invite consideration of other factors, but is not simply an invitation to write about other factors to the exclusion of those specifically mentioned in the task. Mention could be made of the overextension of one particular side in the chosen conflict, diplomatic/military errors made, the economic capacities/advantages of the sides in what became wars of attrition, superior weapons/technological development; the use of guerrilla or â€Å"People’s war† tactics; the collapse of morale of one side etc. If onlyShow MoreRelatedGraduation Speech On Attending College And Playing Collegiate Sports1503 Words   |  7 Pages 77-80% = C+ 77-73% = C 73-70% = C- 70-67% = D+ 67-63% = D 63-60% = D- Below 60% = F. The way these grades are weighted are: Homework 10% Projects 15% Quizzes 15% Exams 40% Final Exam 20%. As far as the attendance policy goes, you are not allowed more than 6 absences and /or missing assignments and the workload is about the same as an IB math class at Columbia River High School, which means that there is homework every night and though the work at times can be difficult there are â€Å"drop-in labs† whichRead MoreEssay on Breast Cancer- Awareness in Females1595 Words   |  7 Pagesis the most prevalent form of cancer found in women today; without the proper knowledge, prevention, and treatment of the disease, it will continue to affect women and few men in the community. The research paper will be based on three key points of interest; (1) Understanding breast cancer; (2) Staging and proper diagnosis of breast cancer; (3) Medical advances in preventions and cures. It will address the many causes and risks factors, a scientific system for diagnosing, as well as showcase anyRead MoreInternational Business Study Guide5732 Words   |  23 PagesJanice Tan – Program Manager HE 6 (RMIT Programs) 1. Sign-Up For The SIM-RMIT Business Plan Competition (Top Prize – A$25,000) 2. End Of Course Evaluation – Although NOT Mandatory; SIM Would Appreciate Your Constructive Feedback To Improve On: ïÆ' ¼ ïÆ' ¼ ïÆ' ¼ ïÆ' ¼ ïÆ' ¼ Subject Content, Lecturer Effectiveness, IT Facilities, Library, and Programme Management. School/Department/Area 2 8/28/2013RMIT University ©yyyy International Business: Course Review Business College School of Management My SolemnRead MoreFactors Of Economic Growth : Case Study Of South Korea3683 Words   |  15 Pagesknown as the model for economic growth. They transformed themselves from an underdeveloped country to one of the world’s most thriving economies. Many countries have tried to imitate the South Korean model as a means of having rapid growth. This paper will show, that a good base for economic growth can be formed through an export oriented led strategy, an improvement in the labor force, and slight involvement by the government. Literature Review There are numerous conditions that play into economicRead MoreBreast Cancer Research : Diagnosis With Treatment1844 Words   |  8 Pageswith Treatment Ellie A. Rider New Castle Career Center Health Science Education Mrs. Talbott December 2, 2014 Author Note Ellie A. Rider, Health Science Education, New Castle Career Programs. Correspondence concerning this article should be addressed to Ellie Rider, Health Science Education, New Castle Career Programs, New Castle IN, 47362. Contact: erider2015@gmail Abstract This paper will explain to you an in depth description of an illness that has taken several lives: Breast CancerRead MoreIb History Rise of the Single State Parties6245 Words   |  25 PagesTOMORROW (during exam): USE A BLACK OR BLUE PEN. NO PENCILS, NO WHITEOUT. BRING YOUR SESSION NUMBER AND ALL THAT INFO PUT THINGS IN CHRONOLOGICAL ORDER (\__/) IB HISTORY STUDY GUIDE (.___.);; Hitler = Right Mao = Left Paper 1 - Peacemaking THE BIBLE! Questions Question 1 - Importance and Message tips 1A= 5 min (3 marks) -try to put 4 points just in case one of ideas is wrong quote the source or paraphrase the source in answer *make sure answer is focused and succinct *don’t spend too much time onRead MoreDescribe with Examples How Schools May Demonstrate and Uphold Their Aims:14953 Words   |  60 Pageshave the same head-teacher and staff. | Primary schools(4-11year olds) | A teaching assistance that will have the responsibility for most of their works. Children start with the Early Years Foundation curriculum, followed by Key Stage 1 and Key Stage 2 of the National Curriculum. Parents are strongly encouraged to help their children, mainly with reading, writing and guiding their children with their homework. | | Secondary schools (11-16 year olds or 18) | Secondary schools educate pupils throughRead MoreHedge Fund Introduction12750 Words   |  51 Pages1:30 - 2:15 â™ ¦ 2:15 – 3:00 â™ ¦ 3:00 - 3:15 â™ ¦ 3:15 - 4:00 â™ ¦ 4:00 - 4:45 â™ ¦ 4:45 - 5:00 Hedge Fund Basics Coffee Break Basics Continued Lunch Continued Hedge Fund Services Coffee Break Fund of Funds Stuart Trueman Joe Troccolo Tamera Hodges Joe Troccolo Joe Troccolo Hedge Funds Corp Finance Laurent Charbonnier Wrap-up / Optional Exam Joe Troccolo 2 Hedge Funds Joe Troccolo, Managing Director Financial Markets Education London, February 2007 Table of contents SECTION 1 SECTION 2 SECTIONRead MoreHsc General Math Textbook with Answers153542 Words   |  615 Pagescomposite shapes 42 Simpson’s rule 47 Surface area of cylinders and spheres Volume of composite solids 57 Errors in measurement 63 Chapter summary 67 Multiple-choice questions 68 Short-answer questions 69 Algebraic skills and techniques 71 33 33 Chapter 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 52 Chapter 3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 Substitution and evaluation 71 Adding and subtracting like terms 75 Multiplying and dividing of algebraic terms Equations 84 Solving equations after substitution 91 ChangingRead MoreBe a Sales Superstar25155 Words   |  101 PagesBe a Sales Superstar By: Brian Tracy Dedication This book is dedicated to my dear friend and business partner Ib Moller, a great entrepreneur, a superb sales professional, an excellent executive and a fine person in every way. Preface This book is for ambitious salespeople who are eager to increase their sales and boost their incomes immediately. It is written for those who are, or intend to be, in the top 10% of their fields in selling. Every idea is aimed at the Sales Superstars of today

Computation Of Net Capital Loss For Year †Myassignmenthelp.Com

Question: Discuss About The Computation Of Net Capital Loss For Year? Answer: Introducation Since the past one year, Eric had taken various attempts to procure some assets and based on the question, it can be assumed that he has held these assets for less than one year. As per Kenny et. al (2017) taxability of capital gain arises when the selling price of an asset exceeds its cost base. The indexation benefit will not accrue to Eric, as the assets are not held for more than a year. The classification of the assets procured by Eric must be done based on their respective heads: Assets intended for personal use A person for their own enjoyment or use buys these assets but it does not include collectibles. Besides, when these assets are sold to another person, taxability of capital gain does not incur when the procurement cost of such assets is less than or equal to $10000. Based on the question, the following personal assets have been acquired by Eric (Kenny et. al, 2017). The first asset is a home sound system with an acquisition cost of $12000 and the second asset is the shares of a listed company with an acquisition cost of $5000. Collectibles A person purchases these assets for enjoyment or personal efficacies and taxability of capital gain does not accrue if the procurement cost is less than or equal to $500. Further, based on the given information, the following collectibles have been acquired by Eric. The first asset is painting with an acquisition cost of $9000, the second asset is an antique chair with an acquisition cost of $3000, and the last asset is an antique vase with an acquisition cost of $2000 respectively (Renton, 2005). Considering the above scenario, the following formula can be utilized for the computation of capital gain for assets held for less than a year. Capital Proceeds of the above assets (Amounts in dollars) Particulars Cost Base of Assets Capital Proceeds of Assets Net Capital Gain/ (Net Capital Loss) Home Sound System 12,000 11000 (1000) Loss Shares in listed company 5,000 20000 15000 Gain Painting 9,000 1000 (8000) Loss Antique Chair 3,000 1000 (2000) Loss Antique Vase 2,000 3000 1000 Gain Net Capital Gain/Loss 5000 Gain Important notes: All assets intended for personal use are acquired for more than $10000 and therefore, taxability of capital gain is applicable. All collectibles are acquired for more than $500 and therefore, taxability of capital gain is applicable. Capital losses for the entire year have been set-off with capital gain to ascertain the net gain or loss Brians employer has offered him a three-year loan with a special one percent rate of interest that must be repaid to him in monthly installments. Such loan of $1 million comes under the purview of loan fringe benefits that are offered by an employer to their employees with an interest rate lesser than the prevailing market rate of interest on the loan. Furthermore, in order to compute the taxability of such benefit, such prevailing statutory interest rate must also be taken into account. Based on the given question, the statutory interest rate will be 5.65% because the loan was offered on April 1, 2016. In this step, such loan fringe benefit must be computed after discarding the deductible rule and for such purpose; the interest on the loan based on the actual rate of interest must be subtracted from interest on the loan based on the statutory rate of interest. Therefore, interest based on statutory interest= $1000000 * 5.65% = $56,500 Similarly, interest based on actual interest= $1000000 * 1% = $10000 The taxable value shall be the difference betwixt both that is $56,500 - $10,000 = $46,500 Second step: Brian must compute the interest based on statutory interest rate after assuming that such amount is the real amount payable. Therefore, interest based on such rate = $1000000 * 5.65% = $56,500 Third step: Since forty percent of the loan has been utilized for meeting future obligations, Brian must compute his tax-deductible interest expense (hypothetical) as $56,500 * 40% = $22,600 Fourth step: Since forty percent of the loan has been utilized for meeting future obligations, Brian must compute his tax-deductible interest expense (real figure) as $10000 * 40% = $4,000 After all the above steps, the actual amount must be subtracted from the hypothetical figure to arrive at a conclusion. Hence, $22,600 - $4,000 = $18,600 The final amount must be computed by subtracting the amount determined in the fifth step from that of the amount in the first step. Therefore, $46,500 - $18,600 = $27,900 Nevertheless, if such interest had been payable at the termination of the loan instead of usual monthly repayments, then the deemed period of such loan would be assumed from the time when such interest will become payable or is paid respectively (Sadiq et. al,, 2014). Besides, if there is no obligation on the part of Brian to repay the interests, then the computation must be done in the same way but by considering the actual interest rate to be zero. Both Jack and Jill agreed to borrow some money in order to rent a property wherein Jack also agreed to only 10% of the profits in contrast to 90% of the same to his wife Jill. Besides, Jack also agreed to bear the entire loss and Jill was freed of such burden. Therefore, the loss of $1000 that incurred in the last year must be borne by Jack himself and Jill has no other obligation in respect of the same. Besides, such loss can be set off with other incomes of Jack so that he can arrive at a net income or loss for the year. In addition, Jack also has a right to carry forward these losses for subsequent years. In the event of a decision to sell the property, either gain or loss can arrive for Jack and Jill. If there is a loss, the entire amount must be borne by Jack and he has full right to carry forward the same in subsequent years or utilize the same in the current year to ascertain his net income or loss (Saunders, 2015). On the other hand, if there is a gain, the amount must be apportioned betwixt Jack and Jill in the ratio of 10:90, and Jack has complete right to set off such loss of $1000 that may arise from the gain after selling the property. On a whole, the conclusion is that Jack is able to set off the losses of last year in the present year if there is some income arriving from the sale of the property (Kobestky, 2005). Besides, if Jack does not have any gain in the current year, such loss must be borne by him and Jill is free of such responsibility. Therefore, the tax treatment cannot affect Jill in any circumstances whereas Jack is under an obligation to bear such losses in his books. It can be witnessed from the case of IRC v Duke of Westminster [1936] AC 1 that every individual has full right to make use of legal means and strategies in a way that can assist them in decreasing their total income at the end of the year. This means that if an individual succeeds in doing so, the Commissioners of Inland Revenue are under no authority to question the same and exert pressure upon the person to enhance his payable tax (Kenny, 2016). On a whole, such rule can be allowed only when the individual utilizes fair means to decrease his total income at the year-end, thereby decrease his total tax payable to the authority. This clearly signifies that the case accommodates the following principles: Every individual has complete right to make use of strategic measures in order to manage their accounts in a way that can assist them in decreasing their total income (Kenny, 2016). If no immoral or unethical procedures are adopted, then no further taxes shall be implemented upon that individual. Besides, if legal means are adopted for decreasing the total tax payable to the authority, then no one can question the validity of the same and force the person to pay an increased amount of tax. The previously mentioned rule was valid somehow until the appearance of new case laws in the current scenario. As a result, the ideology of observing accounts has become different from what was before. The significance of the rule in the current situation can be stated in the following manner (Latimer, 2012): The given rule holds true even in the present environment because it prevents organizations to influence their accounts in a way that can grant additional advantage to them. Besides, the rule also offers a legal right to operate the business affairs in a genuine way. For example, if a business enterprise is encountering immense losses in a year that restricts it to address its obligations; such business can alter its balance sheet amounts and write off their fixed assets to their respective carrying values (Greene, 2013). Further, if the businesses do not pursue properly authenticated documents to justify the transaction, they can still do so. However, if unethical means are adopted by the businesses to alter their accounts, then the rule prevents them from doing so. On a whole, any transaction that assists a business in operating effectively is valid in the eyes of law and must not be questioned upon by any authority. There are various big pine trees in a piece of land that is owned by Bill and he intends to use the same for grazing sheep. However, for complying with such desire, the clearance of such trees is vital. Therefore, he hires a logging company who shall offer him $1000 for every 100 meters of timber. The main question behind such ideology is that whether the tax is applicable on Bill for the amount obtained by the logging company. Besides, since the given question does not clarify the fact what is the exact amount of receipts obtained after clearing such trees, it can be considered a revenue receipt in the hands of Bill (Woellner et. al, 2017). This means that capital gain tax does not accrue upon Bill in this regard. If Bill attains a lump sum amount of $50000 for allowing the logging company to remove the timber from his land, the same amount must be regarded as a capital receipt in the hands of Bill. The reason behind this can be attributed to the fact that this payment is lump sum in nature and there is no recurring receipt. Further, this transaction also occurs because of the offering of the right to a party to remove the trees from the land. Therefore, on a whole, since it is a case of lump sum receipt, the same must be considered a capital receipt and hence, taxable under capital gain in the hands of Bill (Barcokzy, 2010). In both the above scenarios, Bill is attaining the money. In the first given case, the receipt in the hands of Bill is recurring and small in nature while in the second case, the receipt in the hands of Bill is not recurring in nature and there is an offering of the right to the party to comply with the requirement of clearing the trees. Moreover, the same receipt is a bigger one and is also a one-time receipt because once the trees are terminated from the land; it will consume some amount of time to grow once again. Therefore, as Bill in the second case is receiving enormous amount after giving a right to the opposite party, this transaction can be considered as selling an asset to a company for a lump sum consideration. Besides, in taxation law, when one party sells an asset to another party for a consideration, the same shall be considered a capital receipt and taxable in his hands (Fullerton et.al, 2017). In contrast to this, since the first case does not attract any capital gain tax, it must be treated under normal tax rates and not capital gains. 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