Determining The Impact Of Capitalising Long-Term Operating Leases On The Financial Ratios Of The Top 40 JSE-Listed Companies

Operating leases forma great part of companies’ financing structures in today’s economicenvironment. Some accounting standard-setters and other users of financialstatements are of the opinion that the current standard on accounting foroperating leases, IAS 17, does not provide sufficient guidelines on the disclosureof a company’s leasing activities. The current accounting standard on leasesprovides companies with the opportunity to classify lease contracts intodifferent classes which leads to off-balance-sheet financing. This problem iscurrently being addressed by the IASB as they are in the process of developingan improved standard on leases. The main focus ofthis paper is to determine the impact of the improved accounting standard onthe financial statements and the resulting financial ratios of theJSE Top 40 companies when operating leases are accounted for ason-balance-sheet debt. The differences between the current IAS 17 and theExposure draft (ED/2010/9) are identified and the comparison indicatessignificant differences between these two approaches on accounting foroperating lease activities. The focus of the IASBin developing this exposure draft was to provide the users of financialstatements with a universal picture of the leasing activities that the companyis engaged in. The findings include that this objective is achieved as usersare not left uninformed about any of the financing activities that stakeholdersare exposed to if indeed a company is engaged in operating lease activities.The study also revealed that the capitalising of long-term operating leaseswill have a significant effect on the key financial ratios that stakeholdersuse to interpret a company’s financial performance

Comparison between chiral and meson-theoretic nucleon-nucleon potentials through (p,p') reactions

We use proton-nucleus reaction data at intermediate energies to test the emerging new generation of chiral nucleon-nucleon (NN) potentials. Predictions from a high quality one-boson-exchange (OBE) force are used for comparison and evaluation. Both the chiral and OBE models fit NN phase shifts accurately, and the differences between the two forces for proton-induced reactions are small. A comparison to a chiral model with a less accurate NN description sets the scale for the ability of such models to work for nuclear reactions.Comment: 6 pages, revtex, 4 eps-figure

Sensitivity of nucleon-nucleus scattering to the off-shell behavior of on-shell equivalent NN potentials

The sensitivity of nucleon-nucleus elastic scattering to the off-shell behavior of realistic nucleon-nucleon interactions is investigated when on-shell equivalent nucleon-nucleon potentials are used. The study is based on applications of the full-folding optical model potential for an explicit treatment of the off-shell behavior of the nucleon-nucleon effective interaction. Applications were made at beam energies between 40 and 500 MeV for proton scattering from 40Ca and 208Pb. We use the momentum-dependent Paris potential and its local on-shell equivalent as obtained with the Gelfand-Levitan and Marchenko inversion formalism for the two nucleon Schroedinger equation. Full-folding calculations for nucleon-nucleus scattering show small fluctuations in the corresponding observables. This implies that off-shell features of the NN interaction cannot be unambiguously identified with these processes. Inversion potentials were also constructed directly from NN phase-shift data (SM94) in the 0-1.3 GeV energy range. Their use in proton-nucleus scattering above 200 MeV provide a superior description of the observables relative to those obtained from current realistic NN potentials. Limitations and scope of our findings are presented and discussed.Comment: 17 pages tightened REVTeX, 8 .ps figures, submitted to Phys. Rev.

Nuclear Transparency to Intermediate-Energy Protons

Nuclear transparency in the (e,e'p) reaction for 135 < Tp < 800 MeV is investigated using the distorted wave approximation. Calculations using density-dependent effective interactions are compared with phenomenological optical potentials. Nuclear transparency is well correlated with proton absorption and neutron total cross sections. For Tp < 300 MeV there is considerable sensitivity to the choice of optical model, with the empirical effective interaction providing the best agreement with transparency data. For Tp > 300 MeV there is much less difference between optical models, but the calculations substantially underpredict transparency data and the discrepancy increases with A. The differences between Glauber and optical model calculations are related to their respective definitions of the semi-inclusive cross section. By using a more inclusive summation over final states the Glauber model emphasizes nucleon-nucleon inelasticity, whereas with a more restrictive summation the optical model emphasizes nucleon-nucleus inelasticity; experimental definitions of the semi-inclusive cross section lie between these extremes.Comment: uuencoded gz-compressed tar file containing revtex and bbl files and 5 postscript figures, totalling 31 pages. Uses psfi

Study of the nucleon-induced preequilibrium reactions in terms of the Quantum Molecular Dynamics

The preequilibrium (nucleon-in, nucleon-out) angular distributions of $^{27}$Al, $^{58}$Ni and $^{90}$Zr have been analyzed in the energy region from 90 to 200 MeV in terms of the Quantum Moleculear Dynamics (QMD) theory. First, we show that the present approach can reproduce the measured (p,xp') and (p,xn) angular distributions leading to continuous final states without adjusing any parameters. Second, we show the results of the detailed study of the preequilibrium reaction processes; the step-wise contribution to the angular distribution, comparison with the quantum-mechanical Feshbach-Kerman-Koonin theory, the effects of momentum distribution and surface refraction/reflection to the quasifree scattering. Finally, the present method was used to assess the importance of multiple preequilibrium particle emission as a function of projectile energy up to 1 GeV.Comment: 22pages, Revex is used, 10 Postscript figures are available by request from [email protected]

Microscopic calculations of medium effects for 200-MeV (p,p') reactions

We examine the quality of a G-matrix calculation of the effective nucleon-nucleon (NN) interaction for the prediction of the cross section and analyzing power for 200-MeV (p,p') reactions that populate natural parity states in $^{16}$O, $^{28}$Si, and $^{40}$Ca. This calculation is based on a one-boson-exchange model of the free NN force that reproduces NN observables well. The G-matrix includes the effects of Pauli blocking, nuclear binding, and strong relativistic mean-field potentials. The implications of adjustments to the effective mass ansatz to improve the quality of the approximation at momenta above the Fermi level will be discussed, along with the general quality of agreement to a variety of (p,p') transitions.Comment: 36 pages, TeX, 18 figure

Ageing and dementia in low and middle income countries - Using research to engage with public and policy makers

Abstract While two thirds of the 24 million people with dementia worldwide live in low and middle income countries, very little research has been conducted to support policy making in these regions. Among the non-communicable diseases, dementia (in common with other chronic NCDs linked more to long-term disability than to mortality) has been relatively under-prioritized. International agreements, plans and policy guidelines have called for an end to ageist discrimination and a focus upon reducing disadvantage arising from poverty and the consequences of ill health. Social protection, access to good quality age-appropriate healthcare and addressing the problem of disability are all key issues. However, as yet, little progress has been made in addressing these concerns. In this review we outline the current international policy agenda for older individuals, and its specific relevance to those with dementia and other disabling non-communicable diseases. We consider the potential for epidemiological research to raise awareness, refine the policy agenda, and promote action, using the example of the dissemination strategy developed by the 10/66 Dementia Research Group