Evaluating The Effect of Fair Value Adjustments to Investment Property Based on Profitability Ratios

Research aims: The aim of the study was to determine whether fair value adjustments to investment property affect the profitability ratios of listed companies. Design/Methodology/Approach: To investigate the problem, a brief literature overview of performance analysis through ratio calculations, as well as fair value measurement are discussed. These discussions are based on the International Financial Reporting Standards (IFRS), IFRS 13 and International Accounting Standards (IAS), IAS 40. IAS 40 addresses how the value of investment property may be recognised through the fair value model. To determine whether the recognition of fair value adjustments affect the profitability ratios of sampled companies, the Wilcoxon rank test and Cohen’s d-value were used as statistical measures to fulfil this objective. The Top 40 companies as listed on the Johannesburg Stock Exchange (JSE) in South Africa were populated, and judgment sampling was applied to calculate the sampling frame.Research findings: The results demonstrate that 50% to 75% of the sampled companies had profitability ratios, which were impacted by the recognition of fair value adjustments. These findings are relevant to potential investors who need to interpret financial ratios to improve investment decisions. Finally, the study recommends that the prospective investor eliminate fair value adjustments when profitability ratios are calculated.Theoretical contribution/Originality: The contribution of the study is that fair value adjustments (favourable or unfavourable) relating to IAS 40 affect the decisions taken by users of the financial statements. Substantial changes to profit or loss and/or investment property significantly impact ratio analysis outcomes and, therefore, investor decision making. The research contributes to the use of fair value adjustments and its impact on profitability ratios. Practitioner/Policy implications: Regulators may benefit from the findings when considering regulatory reforms of accounting practices as well as the disclosures required that assist the users of financial statements

Educating Future Robotics Engineers In Multidisciplinary Approaches In Robot Software Design

In 2020, a new two-year MSc programme in robotics was launched. Unlike most existing robotics programmes, which approach robotics from a specific discipline, this programme aims to train multi-deployable robot generalists using a cognitive approach (no hardware creation). The field of robotics is multidisciplinary by nature and educating students on how to approach projects with a multidisciplinary mindset is at the forefront of the programme. Hence, at the end of the first year, students are thrust into experiencing the true multi-disciplinarity of the robotics field in a synthesizing, multidisciplinary project-based course. In this 5 EC course, students work together in groups of 5 on an industry-based assignment making a translation of societal issues from different perspectives (human, sustainability, safety, ethics, economic, etc.) into intelligent robot solutions. Each team develops and tests a complete, integrated software package for a complex robot system in a simulated environment and implements it in a real robot at the end of the course. Various robots are used, each related to a different case study which is taken on by multiple teams. Students are supported in their project with workshops and minilectures on transferable skills, systems engineering and the Robot Operating System (ROS). This paper describes the development, implementation, and results of the course over its first three years of running. It will present lessons learned from the perspectives of all parties involved: lecturers, technical staff, industry, and students as well as future plans and recommendations for others looking at creating similar courses

Water on well-defined platinum surfaces : an ultra high vacuum and electrochemical study

We have investigated the dissociation state of water on platinum electrodes. The desorption of D2, O2, and H2O is influenced significantly by the presence of step sites and the geometry of those sites. Under UHV conditions OH groups can be formed on Pt(111) by pre-covering the surface with O adatoms, causing water to dissociate. We have shown that on stepped platinum surfaces OHad might not be as readily formed as one would assume based on the energetics of OH adsorption alone. Even though the Pt(533) and Pt(553) surfaces have similar geometries, the hydrophobicity on the deuterated surface is surprisingly different: on D/Pt(533) the surface is hydrophobic with water clustering at steps, whereas the entire surface is wet on D/Pt(553). Under electrochemical conditions we show that in spite of the similar looking cyclic voltammograms, the kinetics of underpotential deposited hydrogen are significantly different in acidic and alkaline media. In alkaline media the ad- and desorption process is slow, whereas it is very fast in acidic media. We have pointed out three discrepancies in the current interpretation of the blank cyclic voltammetry of stepped platinum surfaces and propose a co-adsorption model that accounts for these discrepancies.UBL - phd migration 201