Events after the Balance Sheet Date. SFAS 165 - Coursework Example This standard has also provided some examples of such events which should be or should not be recognized and reported in the financial statements. This article examines objective of SFAS 165 in a detailed manner such that the important paragraphs of the Statement are directly reproduced from the Statement so that actual wordings of the Statements regarding the important points of the Statement can be presented in their intended meaning. This article is structured in such a manner that the first section highlights the overview of this Statement followed by the section which focuses upon the objectives of this Statement. Next section emphasizes the recognition criteria of this statement along with some of the examples taken directly from the Statement which highlight both types of events, the one which should be recognized as well as the other ones which should not be. The subsequent section outlines the comparison of SFAS 165 of GAAP with IAS 10 of IFRS. After that an example from Thomson One Banker database is reported in this article followed by discussion on that example. Conclusion is the last part of this article which leads to the end of this article. Overview of SFAS 165 Statement of Financial Accounting Standards 165 (SFAS 165) discusses the events after the balance sheet date. Those events are also referred to as subsequent events. Generally, those events that arises â€œafter the balance sheet date but before the date of financial statements are issued or available to be issuedâ€
Development of Character in Cormac McCarthy's All the Pretty Horses In a journey across the vast untamed country of Mexico, Cormac McCarthy introduces All the Pretty Horses, a bittersweet and profoundly moving tale of love, hate, disappointments, joy, and redemption. John Grady sets out on horseback to Mexico with his best friend Lacey Rawlins in search of the cowboy lifestyle. His journey leaves John wiser but saddened, yet out of this heartbreak comes the resilience of a man who has claimed his place in the world as a true cowboy. In his journey Johnâ€™s character changes and develops throughout the novel to have more of a personal relationship with the horses and Mother Nature. He changes from a young boy who knows nothing of the world except â€œall the pretty horsesâ€ to an adolescent who is forced to acknowledge, that the real world is not so simple like horses and finally to a young man who realizes that men are very violent and unpredictable. Throughout this journey of self-discovery, the one constant in his life is his bound with horses, a complex relationship that exist on many levels: they transport him into Mexico and into his adolescent life, and also exist as a companion to take refuge in. His intimacy and interaction with horses and Mother Nature acts as a catalyst for his development of a man throughout this novel. McCarthyâ€™s illustration of Johnâ€™s character in the first chapter shows how boyish and naive he really is. He has a hard time realizing that many people donâ€™t share the same simple views as he does; to own a ranch in western Texas. â€œSon, not everybody thinks that life on a cattle ranch in west Texas is the second best thing to dying and goin to heaven.â€ His boyish outlook towards life portrays him as a naive... ...s actually sandwiched between the two horses as he is riding of into the sunset. He chooses the life of Mother Nature and the horses because life with them was much more simple and understanding than life in a society full of violent and unpredictable men. But, does he really choose Mother Nature over society? The last sentence seems to contradict the first part of this paragraph. As a reader we are left with McCarthyâ€™s last words, â€œPassed and paled into the darkening land, the world to come.â€ Maybe this is the end of John. As he is sandwiched in-between these two horses riding off into the sunset they are transporting him â€œinto the darkening land.â€ Although, throughout the novel we see Johnâ€™s character develop into a young man, who understands Mother Nature. McCarthy leaves us bewildered to what he is really thinking. McCarthy leaves that up to the reader to decide.
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