3,248 research outputs found
Goodwill, balance sheet structures and accounting standards Recent developments and issues for French groups.
This article aims to assess the economic issues related to the accounting treatment of goodwill, and more specifically the likely repercussions of the transition to International Financial Reporting Standards (IFRS) on the consolidated accounts of listed companies with effect from 1 January 2005. Based on observations derived from a representative database of French groups, the article demonstrates a marked increase in the amount of goodwill and similar intangible assets in the balance sheets of large groups, and especially of CAC 40 groups, for whom the ratio of such assets to equity reached 82% in 2002. The difficulties experienced in some sectors, especially telecoms and media, led some groups to record substantial write-downs of goodwill and similar intangibles, leading to huge accounting losses being reported in 2001 and 2002. The gearing of these groups, which had risen as a result of external growth strategies partly based on debt financing, then increased further due to the contraction in equity caused by these losses. Hence the observation of a deterioration in balance sheet structure in 2002, extending into 2003. In the light of these observations, can accounting standards yield information that accurately reflects deterioration in a company’s financial structure as early as possible? In view of the rapid developments in recent years described in this article, the question of whether or not to amortise goodwill is no longer a relevant issue. Nevertheless, in a broader perspective, the virtual disappearance of goodwill amortisation that is likely to result from the adoption of IFRS could, in an economic downturn, induce greater volatility in financial statements, at the level of both earnings and equity. This is because downward adjustments of valuations are likely to take the form of one-off charges rather than being spread over time. Notwithstanding this potential additional volatility, the approach recommended by IFRS 3 on business combinations nonetheless gives financial statement users important information about changes in the wealth of a group during an economic downturn, and indicates any loss of that wealth due to over-priced acquisitions. Recognition of goodwill as a separate asset thus has the effect of highlighting the potential fragility of corporate wealth which is based partly on goodwill. Furthermore, it contributes to the general drive towards greater international comparability of accounting standards. However, impairment tests cannot always rely on market prices. There is no guarantee that there will be a deep and liquid market in assets comparable with those that generated the goodwill, and the more specific the asset and the longer the period since acquisition, the more this will apply. It therefore becomes necessary to devise hypotheses, which provide some latitude in the choice of valuations. Moreover, the extent of impairment losses may in itself send out a strong signal, leading to a reappraisal of expectations and share prices. This could trigger a downward spiral, which could only be contained in an efficient market. In the final analysis, the impact of the reform of the accounting treatment of business combinations, and of goodwill arising on such combinations, will largely hinge on how the preparers of financial statements apply IFRS 3, and on the scrutiny brought to bear on the accuracy and meaning of the figures by auditors and analysts. Users will no doubt be able to place more reliance on financial statement preparation and analysis in sectors where only a few large groups have goodwill in their balance sheets, making comparisons between groups easier. Information will be harder to assess where valuations of goodwill and intangibles relate to highly specific or relatively new activities.
Electronics Cooling Fan Noise Prediction
Using the finite volume CFD software FLUENT, one fan was studied at a given
flow rate (1.5m3/min) for three different operational rotating speeds : 2,000,
2,350 and 2,700 rpm. The turbulent air flow analysis predicts the acoustic
behavior of the fan. The best fan operating window, i.e. the one giving the
best ratio between noise emissions and cooling performance, can then be
determined. The broadband noise acoustic model is used. As the computation is
steady state, a simple Multiple Reference Frame model (MRF, also known as
stationary rotor approach) is used to represent the fan. This approach is able
to capture the effects of the flow non-uniformity at the fan inlet together
with their impact on the fan performance. Furthermore, it is not requiring a
fan curve as an input to the model. When compared to the available catalog data
the simulation results show promising qualitative agreement that may be used
for fan design and selection purposes.Comment: Submitted on behalf of TIMA Editions
(http://irevues.inist.fr/tima-editions
Measurement of uncertainty costs with dynamic traffic simulations
Non-recurrent congestion in transportation networks occurs as a consequence of stochastic factors affecting demand and supply. Intelligent Transportation Systems such as Advanced Traveler Information Systems (ATIS) and Advanced Traffic Management Systems (ATMS) are designed in order to reduce the impacts of non-recurrent congestion by providing information to a fraction of users or by controlling the variability of traffic flows. For these reasons, the design of ATIS and ATMS requires reliable forecast of non-recurrent congestion. This paper proposes a new method to measure the impacts of non-recurrent congestion on travel costs by taking risk aversion into account. The traffic model is based on the dynamic traffic simulations model METROPOLIS. Incidents are generated randomly by reducing the capacity of the network. Users can instantaneously adapt to the unexpected travel conditions or can also change their behavior via a day-to-day adjustment process. Comparisons with incident-free simulations provide a benchmark for potential travel time savings that can be brought in by a state-of-the-art information system. We measure the impact of variable travel conditions by describing the willingness to pay to avoid risky or unreliable journeys. Indeed, for risk averse drivers, any uncertainty corresponds to a utility loss. This utility loss is computed for several levels of network disruption. The main results of the paper is that the utility loss due to uncertainty is of the same order of magnitude as the total travel costs.
Action minimizing orbits in the n-body problem with simple choreography constraint
In 1999 Chenciner and Montgomery found a remarkably simple choreographic
motion for the planar 3-body problem (see \cite{CM}). In this solution 3 equal
masses travel on a eight shaped planar curve; this orbit is obtained minimizing
the action integral on the set of simple planar choreographies with some
special symmetry constraints. In this work our aim is to study the problem of
masses moving in \RR^d under an attractive force generated by a potential
of the kind , , with the only constraint to be a simple
choreography: if are the orbits then we impose the
existence of x \in H^1_{2 \pi}(\RR,\RR^d) such that q_i(t)=x(t+(i-1) \tau),
i=1,...,n, t \in \RR, where . In this setting, we first
prove that for every d,n \in \NN and , the lagrangian action
attains its absolute minimum on the planar circle. Next we deal with the
problem in a rotating frame and we show a reacher phenomenology: indeed while
for some values of the angular velocity minimizers are still circles, for
others the minima of the action are not anymore rigid motions.Comment: 24 pages; 4 figures; submitted to Nonlinearit
Organellar carbon metabolism is co-ordinated with distinct developmental phases of secondary xylem
Subcellular compartmentation of plant biosynthetic pathways in the mitochondria and plastids requires coordinated regulation of nuclear encoded genes, and the role of these genes has been largely ignored by wood researchers. In this study, we constructed a targeted systems genetics coexpression network of xylogenesis in Eucalyptus using plastid and mitochondrial carbon metabolic genes and compared the resulting clusters to the aspen xylem developmental series. The constructed network clusters reveal the organization of transcriptional modules regulating subcellular metabolic functions in plastids and mitochondria. Overlapping genes between the plastid and mitochondrial networks implicate the common transcriptional regulation of carbon metabolism during xylem secondary growth. We show that the central processes of organellar carbon metabolism are distinctly coordinated across the developmental stages of wood formation and are specifically associated with primary growth and secondary cell wall deposition. We also demonstrate that, during xylogenesis, plastid-targeted carbon metabolism is partially regulated by the central clock for carbon allocation towards primary and secondary xylem growth, and we discuss these networks in the context of previously established associations with wood-related complex traits. This study provides a new resolution into the integration and transcriptional regulation of plastid- and mitochondrial-localized carbon metabolism during xylogenesis
Cell surface immobilization of GABAARs in cerebellar granule cells depends on the M3/M4 cytoplasmatic loop of the alpha 1 subunit
Gamma-Aminobutyric acid (GABA) is the major inhibitory neurotransmitter in the vertebrate brain. The localization of GABA receptors type A (GABAARs) at strategically located domains of the neuronal membrane is of vital importance for fast inhibitory synapse transmission efficacy. We have shown before that the lateral mobility of GABAARs depends on subunit composition of the complex. To study the lateral mobility of GABAARs in living, cultured neurons, we transfected cerebellar granule cells with either the complete 1 GABAAR subunit or with a truncation of the 1 subunit that lacks the major intracellular loop (M3/M4). We examined the location and lateral mobility of receptors containing both versions of the 1 subunit in living neurons. From fluorescence recovery after photobleaching experiments we present novel evidences that the intracellular M3/M4 loop of the 1 subunit restricts the lateral mobility of GABAARs when expressed in neurons. In addition, our immunocytochemical studies suggested that receptors containing the truncated subunit seem to be unable to reach synaptic localizations. Here we show for the first time that the 1 intracellular loop (M3/M4) domain has a relevant role in controlling the lateral mobility of GABAARs in neurons, and we believe that this is a novel and important contribution in neurobiology of GABAA receptors
Penetration of a salinity front into a rotating basin : laboratory experiments and a simple theory
Author Posting. © Sears Foundation for Marine Research, 2011. This article is posted here by permission of Sears Foundation for Marine Research for personal use, not for redistribution. The definitive version was published in Journal of Marine Research 69 (2011): 603-645, doi:10.1357/002224011799849417.Freshwater is released along a wall of a basin containing salt water and rotating anticlockwise. The freshwater source is located near the surface between the center of the cylindrical basin and a corner along the wall. Experiments are performed with different discharge rates and the same rotation rate. The freshwater initially forms a bulge near the source, and then a buoyant gravity current bends to the right and flows along the wall toward the periphery of the basin. Separation of the current at the corner is never observed. The salinity front along the wall moves persistently away from the wall with a time scale greatly exceeding the rotation period. Its movement is compared to numerical solutions of a two-layer theory, where friction in the Ekman layer straddling the layer interface is the sole ageostrophic effect. The theory shows that the depth of the interface (h) satisfies a nonlinear diffusion equation. The symmetric part of the diffusion tensor causes light fluid to move down the gradient of h and represents the effect of vertical friction. The associated diffusivity reaches a maximum at h/δ = π/2, where δ is the Ekman layer depth. The antisymmetric part of the diffusion tensor causes light fluid to move perpendicularly to ∇h and represents the effect of geostrophic motion. The associated diffusivity increases monotonically with h/δ and greatly exceeds the diffusivity of the symmetric part if h/δ is of order of one or more. Comparison of numerical solutions with experimental data supports the theory.This study was supported by the Ocean and Climate Change Institute at
WHOI
Gravitational wave forms for a three-body system in Lagrange's orbit: parameter determinations and a binary source test
Continuing work initiated in an earlier publication [Torigoe et al. Phys.
Rev. Lett. {\bf 102}, 251101 (2009)], gravitational wave forms for a three-body
system in Lagrange's orbit are considered especially in an analytic method.
First, we derive an expression of the three-body wave forms at the mass
quadrupole, octupole and current quadrupole orders. By using the expressions,
we solve a gravitational-wave {\it inverse} problem of determining the source
parameters to this particular configuration (three masses, a distance of the
source to an observer, and the orbital inclination angle to the line of sight)
through observations of the gravitational wave forms alone. For this purpose,
the chirp mass to a three-body system in the particular configuration is
expressed in terms of only the mass ratios by deleting initial angle positions.
We discuss also whether and how a binary source can be distinguished from a
three-body system in Lagrange's orbit or others.Comment: 21 pages, 3 figures, 1 table; text improved, typos corrected;
accepted for publication in PR
Densification of amorphous silicon prepared by hydrogen‐ion‐beam‐assisted evaporation
International audienceHydrogenated amorphous silicon films were deposited by ion-beam-assisted evaporation onto substrates maintained at 120 °C. The influence of the substrate bias was studied. By combined infrared spectrometry and thermal desorption spectrometry experiments, it is inferred that the bombardment of the growing a-Si:H film by energetic hydrogen ions produces a densification of the material without modification of the Si:H bonding
Nouveaux Orthoptères (Ensifera, Insecta) du Trias des Vosges (France)
Three new Orthoptera, Ensifera (Hagloidea and Gryllavoidea) from the Grés à Voltzia (Upper Buntsandstein, transition Lower / Middle Triassic) of the Vosges (France) are described based on forewings. Galliagryllavus vogesiacus n.gen., n.sp. (Gryllavidae) shows affinities with Gryllavus madygenicus SHAROV 1968 from the Triassic of Madygen (Kirghizistan). Triassoparacyrtophyllites bifurcatus n.gen., n.sp. (Tuphellidae) displays some similarities with Paracyrtophillites undulatus SHAROV 1968 from the Upper Jurassic of Karatau (Kazakhstan). Voltziahagla pseudoveinosa n.gen., n.sp. (Haglidae) seems close to the genus Archaboilus MARTYNOV 1937 from the Lower Jurassic of Shurab (Tadjikistan). These three Ensifera which belong to distinct families underscore the diversity of the Hagloidea and the Gryllavoidea at the boundary between the Lower and Middle Triassic. A cladistic study would be necessary to determine the phylogenetical relationships between the different families
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