Liabilities Related Quotes

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To be passive is to let others decide for you. To be aggressive is to decide for others. To be assertive is to decide for yourself. In myths, nothing good comes from gloating. You have to let the gods maintain the image of their singular power. I did not yet know that nightmares know no geography, that guilt and anxiety wander borderless. It is a reflex to expect the bad with the good. I don't know what fears kept hidden only grow more fierce. I don't know that my habits of pretending are only making us worse. Maybe moving forward also meant circling back. There are always two worlds. The one that I choose and the one that I deny, which inserts itself without my permission. To change our behavior, we must change our feelings and to change our feelings, we must change our thoughts. Freedom is bout choice - about choosing compassion, humor, optimism, intuition, curiosity and self-expression. To be free is to live in the present. When you have something to prove, you are not free. When we grieve, it's not just over what happened - we grieve for what didn't happen. You can't heal what you can't feel. It's easier to hold someone or something else responsible for your pain than to take responsibility for ending your own victimhood. Our painful experiences aren't a liability, they are a gift. They give us perspective and meaning, an opportunity to find our unique purpose and our strength. One of the proving grounds for our freedom is in how we relate to our loved ones. There is no forgiveness without rage. But to ask "why" is to stay in the past, to keep company with our guilt and regret. We can't control other people and we can't control the past. You can't change what happened, you can't change what you did or what was done to you. But you can choose how you live now.
Edith Eva Eger (The Choice: Embrace the Possible)
My belief that addiction was an issue of social injustice stemmed from my most basic understanding of things like the lack of treatment options for those suffering from addiction, or the way we are dehumanized. Listening to a mother talk about her “junkie daughter,” or my own relative talk about her friend’s “addict grandson”—in that way we are conditioned to talk about the sickest, most vulnerable people in our orbit as problems to be fixed or liabilities to be handled or criminals to be locked up—ripped something in me. I started out with a complete and heartbreaking rage over how we treat (and don’t treat) people suffering with addiction, and only because I was one of them.
Holly Whitaker (Quit Like a Woman: The Radical Choice to Not Drink in a Culture Obsessed with Alcohol)
In the play of living we engage in three fundamental forms of action. We begin things, we continue to be engaged in things, and we bring things to an end. We are each obligated to be capable of fulfilling these three forms of action relative to every condition in our experience. To suffer disability relative to any of these three forms of action relative to any condition in our experience is to accumulate a tendency relative to that condition. Such is the way we develop our conventional "karmas." By virtue of such accumulations we are obliged to suffer repetitions of circumstances, in this life and from life to life, until we overcome the liability in our active relationship to each condition that binds us. In the manifest process of existence, we and all other functions in the play are under the same lawful obligation to create, sustain, and destroy conditions or patterns that arise. The inhibition or suppression of the ability to create conditions (or to realize that conditions are your creation and responsibility) is reflected as "tamas," or rigidity, inertia, indolence, and laziness. The inhibition or suppression of the ability to sustain (or to realize that the maintenance of conditions is your responsibility) is reflected as "rajas," or unsteadiness of life and attention, and negative and random excitation or emotion. The inhibition or suppression of the ability to destroy or become free of conditions (or to realize that the cessation of conditions is your responsibility) is reflected as artificial "sattwa," sentimentality, romance, sorrow, bondage to subjectivity, and no comprehension of the mystery of death.
Adi Da Samraj (The Eating Gorilla Comes in Peace: The Transcendental Principle of Life Applied to Diet and the Regenerative Discipline of True Health)
Everything, it said, was against the travellers, every obstacle imposed alike by man and by nature. A miraculous agreement of the times of departure and arrival, which was impossible, was absolutely necessary to his success. He might, perhaps, reckon on the arrival of trains at the designated hours, in Europe, where the distances were relatively moderate; but when he calculated upon crossing India in three days, and the United States in seven, could he rely beyond misgiving upon accomplishing his task? There were accidents to machinery, the liability of trains to run off the line, collisions, bad weather, the blocking up by snow—were not all these against Phileas Fogg? Would he not find himself, when travelling by steamer in winter, at the mercy of the winds and fogs?
Jules Verne (Around the World in 80 Days)
At the heart of the Seven Principles approach is the simple truth that happy marriages are based on a deep friendship. By this I mean a mutual respect for and enjoyment of each other’s company. These couples tend to know each other intimately—they are well versed in each other’s likes, dislikes, personality quirks, hopes, and dreams. They have an abiding regard for each other and express this fondness not just in the big ways but through small gestures day in and day out. Take the case of hardworking Nathaniel, who is employed by an import business and works very long hours. In another marriage, his schedule might be a major liability. But he and his wife, Olivia, have found ways to stay connected. They talk or text frequently throughout the day. When she has a doctor’s appointment, he remembers to call to see how it went. When he has a meeting with an important client, she’ll check in to see how it fared. When they have chicken for dinner, she gives him drumsticks because she knows he likes them best. When he makes blueberry pancakes for the kids on Saturday morning, he’ll leave the blueberries out of hers because he knows she doesn’t like them. Although he’s not religious, he accompanies her to church each Sunday because it’s important to her. And although she’s not crazy about spending a lot of time with their relatives, she has pursued a friendship with Nathaniel’s mother and sisters because family matters so much to him.
John M. Gottman (The Seven Principles for Making Marriage Work: A Practical Guide from the Country's Foremost Relationship Expert)
(Note: The following was written in 2003, before the full implication of US military commitment in Afghanistan and Iraq could be fully appreciated. The passage also predates US drone attacks against targets in Pakistan and Yemen - to say nothing of Israeli affairs since 2003. It is unknown if and how the author's comments would change if he were writing the same today.) The value of Israel to the United States as a strategic asset has been much disputed. There have been some in the United States who view Israel as a major strategic ally in the region and the one sure bastion against both external and regional enemies. Others have argued that Israel, far from being a strategic asset, has been a strategic liability, by embittering U.S. relations with the Arab world and causing the failure of U.S. policies in the region. But if one compares the record of American policy in the Middle East with that of other regions, one is struck not by its failure but by its success. There is, after all, no Vietnam in the Middle East, no Cuba or Nicaragua or El Salvador, not even an Angola. On the contrary, throughout the successive crises that have shaken the region, there has always been an imposing political, economic, and cultural American presence, usually in several countries - and this, until the Gulf War of 1991, without the need for any significant military intervention. And even then, their presence was needed to rescue the victims of an inter-Arab aggression, unrelated to either Israelis or Palestinians. (99)
Bernard Lewis (The Crisis of Islam: Holy War and Unholy Terror)
Businesses realised that in addition to the reputational risk of investing in greenhouse-intense assets, they faced policy risk from potential impairment of assets in the future by climate-related laws and even liability risk from future class actions.
Matthew Warren (Blackout: How is Energy-Rich Australia Running Out of Electricity)
There is no definitive acquisition from which history can rise without losing an inch of the height it has attained: the bourgeoisie which was the revolution became the ancien regime, and, when reflecting on the French Revolution, it identifies itself with the old ruling class. At the same time that there is historical progress, there is, therefore, a consolidation, a destruction, a trampling of history; and at the same time as a permanent revolution, there is a permanent decadence which overtakes the ruling class in proportion as it rules and endures, for by ruling it abdicates what had made it "progressive," loses its rallying power, and is reduced to the protection of private interests. Throughout history, revolutions meet one another and institutions resemble one another; every revolution is the first revolution, and every institution, even a revolutionary institution, is tempted by historical precedents. This does not mean that everything is in vain and that nothing can be done: each time the struggle is different, the minimum of demandable justice rises, and, besides, according to these very principles, conservatism is utopian. But this means that the revolution which would recreate history is infinitely distant, that there is a similarity among ruling classes insofar as they are ruling and among ruled classes insofar as they are ruled, and that, for this reason, historical advances cannot be added like steps in a staircase. The Marxists know this very well when they say that the dictatorship of the proletariat turns the weapons of the bourgeoisie against the bourgeoisie. But then a proletarian philosophy of history holds to the miracle that the dictatorship may use the bourgeoisie's weapons without becoming something like a bourgeoisie; that a class may rule without becoming decadent when in point of fact any class which rules the whole proves to be particular by that very action; that a historical formation, the proletariat, may be established as a ruling class without taking upon itself the liabilities of the historical role; that it may accumulate and keep intact in itself all the energy of all past revolution and unfailingly give life to its institutional apparatus and progressively annul its degeneration. It is to act as if everything that historically exists were not at the same time movement and inertia, it is to place in history, as contents, on the one hand the principle of resistance (called the bourgeoisie) and on the other the principle of movement (called the proletariat), when these are the very structure of history as a passage to generality and to the institution of relationships among persons...To believe in proletarian revolution is to arbitrarily assert that history's sliding back on itself and the resurrection of past ghosts are bad dreams, that history carries within itself its own cure and will surprise us with it...One does not kill for relative progress. The very nature of revolution is to believe itself absolute and to not be absolute precisely because it believes itself to be so.
Maurice Merleau-Ponty
The devastating effects of diseases and parasites relating to sanitation—dysentery, typhoid fever, typhus, lice, scabies—might have been reduced had the Continental Army paid more attention to the traditionally female job of maintaining adequate hygiene. Since men died of disease as often as they died in battle, the failure to take preventative measures must be counted as a military liability.
Ray Raphael (A People's History of the American Revolution: How Common People Shaped the Fight for Independence)
they sought to revitalize a nineteenth-century style of employment relations in which workers were considered liabilities rather than assets. It was a style in which a company's success was in opposition to workers' welfare rather than dependent on it.
Erin Hatton (The Temp Economy: From Kelly Girls to Permatemps in Postwar America)
Material adverse effect" is a standard that is often employed in the softening of contract provisions. It is often used in more than one provision in a contract, and as a result may be separately defined: "Material adverse effect" means any material adverse effect on the Borrower’s business, assets, liabilities, prospects or condition (financial or otherwise). In order to fall within the ambit of this definition, the matter in question must be both material and adverse to the party. Materiality is a subjective concept; a change that would be reasonably likely to affect the other party’s evaluation of the transaction will generally be viewed as material. The change must also be adverse. Obviously, if it’s a change for the better, it isn’t covered. The definition refers to the areas where the material adverse effect has occurred: the party’s business, assets, liabilities, financial condition and prospects. Let’s look at examples of each of these. The loss of a customer that represented 40% of the borrower’s earnings would have a material adverse effect on its business. An uninsured casualty loss in respect of the borrower’s primary manufacturing plant would have a material adverse effect on its assets. The entering of a judgment against the borrower for damages in an amount equal to its total annual sales would have a material adverse effect on its liabilities. A loss of sales resulting in a diminution in cash flow that impairs the borrower’s ability to pay its operating expenses would have a material adverse effect on its financial condition. Lastly, the development of proprietary technology by a competitor that allows it to produce goods at a more favorable price may have a material adverse effect on the borrower’s prospects, because it may be forced to reduce its profit margins. Inclusion of the word "prospects" as a component of the definition of material adverse effect is almost always a point of contention. The party to whom the material adverse effect standard is applicable will argue that the use of prospects gives the other party too much room to speculate about the future impact of an event. The other party will argue that its counterparty’s future condition and performance is important to it, and the party should not be required to wait until a reasonably foreseeable bad result has occurred before having any remedies. Closely related to material adverse effect is material adverse change, referred to colloquially as "MAC.
Charles M. Fox (Working with Contracts: What Law School Doesn't Teach You (PLI's Corporate and Securities Law Library))
Corporations will have to get over their privacy and liability concerns and give government agencies the security data those agencies say they need in order to be effective. The military and intelligence agencies, in turn, need to make information relating to cyber threats available in real time, setting aside worries about jeopardizing sources and methods.
Ted Koppel (Lights Out: A Cyberattack, A Nation Unprepared, Surviving the Aftermath)
7 Traits you Need in an Employee to Really Help You Build Your Business As a counsel to new businesses, and a tutor many desiring business visionaries, despite everything i’m shocked at the number who are resolved to go at only it. Surprisingly more dreadful, when they make sense of that they truly require enable, the primary spot they to look is for an understudy or untrained helpers. They don’t understand that these lone increment their workload, because of preparing and administration, as opposed to offloading genuine work. Partners do what you say, while individuals more astute than you in their space do what you require, with no consideration from you. Truth be told, if you are focusing, you can really gain from what they do. For instance, creators need to stay with their imaginative abilities, and discover an accomplice who knows how to construct a business around it. That is a win-win for the two accomplices. In this manner top business people invest as much energy getting the correct group set up to maintain the business as building the item or administration. Tragically, some are so enamored with themselves (narcissistic), that they can’t be persuaded that any other person could run their accounts, or go up against marketing.True pioneers know how to appoint and tune in, and let others do what they know best. So, in case you’re executing yourself with work, and following up on everything about, might need to take a gander at your group to guarantee you’ve encircle yourself with the privilege people.Of course, the correct ones may cost you value, yet a little level of a major business is worth much more to you than a substantial piece of nothing. Here are a few ascribes to search for in the general population you require: 1. Related knowledge and abilities to supplement your qualities Would you endeavor to fabricate the place you had always wanted, with arbitrary assistants demonstrating no involvement? Discover an accomplice who has managed the substances of innovation, devices, and financing. A startup has enough questions, without numbness of the nuts and bolts. Try not to rehash the oversights of others. 2. Demonstrated reputation of completing things Diligent work is important, however not adequate to begin another business. Building a decent arrangement, and measuring against that arrangement is pivotal to developing any business. Regularly individuals with cutting edge degrees have scholarly smarts, however are not closers. You can’t stand to settle on each choice, or follow-up on each activity. 3. Create and propose their own concern arrangements How regularly do the general population around you prescribe arrangements, as opposed to feature issues? In case you’re cooperating with individuals who are more astute than you, you ought to be as often as possible amazed with their new thoughts and arrangements. You may not generally concur, but rather you will be always gaining from them. 4. Reliably enthusiastic and positive in a part The savvy individuals you need are as positive and enthusiastic about your business as you seem to be. They assume possession and liability for their activities. They persuade you with their activities that they comprehend the master plan. They contend unhesitatingly and intentionally, as opposed to protectively. 5. Invest more energy tuning in than talking It’s hard for colleagues to learn while they are talking. Search for colleagues who are attentive people, where you end up searching them out, as opposed to dependably the a different way. It’s awesome to group with individuals that you can imagine working for sometime in the not so distant future, or taking control of your business. 6. Push you to concentrate on vital components and being a superior pioneer You require individuals around you asking the correct inquiries, and testing you on key issues, as opposed to the emergency of the day.
Businessplans
Even now, I sometimes wonder why my father was so different in North Korea from the man he’d been in Japan. I used to think it was related to his physical strength. In Japan, that was the thing that had given him real power. But in North Korea, his strength was meaningless. In fact, it was more of a liability than an asset. But I think the issue was more complicated than that. In Japan, he faced endless bigotry, prejudice, and discrimination. The only way he could express his feelings and fight back was through violence
Masaji Ishikawa (A River in Darkness: One Man's Escape from North Korea)
The biggest problem that we now collectively face is that for many people, companies, nonprofit organizations, and governments, their incomes are low in relation to their expenses, and their debts and other liabilities (such as those for pensions, healthcare, and insurance) are very large relative to the value of their assets. It may not seem that way—in fact, it often seems the opposite—because there are many people, companies, nonprofit organizations, and governments that look rich even while they are in the process of going broke.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
Since governments have the ability to both make and borrow money, why couldn’t the central bank lend money at an interest rate of about 0 percent to the central government to distribute as it likes to support the economy? Couldn’t it also lend to others at low rates and allow those debtors to never pay it back? Normally debtors have to pay back the original amount borrowed (principal) plus interest in installments over a period of time. But the central bank has the power to set the interest rate at 0 percent and keep rolling over the debt so that the debtor never has to pay it back. That would be the equivalent of giving the debtors the money, but it wouldn’t look that way because the debt would still be accounted for as an asset that the central bank owns, so the central bank could still say it is performing its normal lending functions. This is the exact thing that happened in the wake of the economic crisis caused by the COVID-19 pandemic. Many versions of this have happened many times in history. Who pays? It is bad for those outside the central bank who still hold the debts as assets—cash and bonds—who won’t get returns that would preserve their purchasing power. The biggest problem that we now collectively face is that for many people, companies, nonprofit organizations, and governments, their incomes are low in relation to their expenses, and their debts and other liabilities (such as those for pensions, healthcare, and insurance) are very large relative to the value of their assets.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
By Christmas 1934, over three hundred claims totaling $1,-250,000 had been filed against the Ward Line by survivors and relatives of the dead. The Ward Line asked the federal court to limit the total of any single claim to $20,000 and offered $250,000 as a full and final settlement. Lawyers for the line based their case on the “limited liability” law that had been on the statute books since 1851. The 1851 law was clear that in the event of disaster, “only by proving the owners to have possessed knowledge of the unseaworthiness of the vessel or the inadequacy of the crew before sailing,” could passengers collect.
Gordon Thomas (Shipwreck: The Strange Fate of the Morro Castle)
part of our purpose is to be a relational asset—not a liability—
Dharius Daniels (Relational Intelligence: The People Skills You Need for the Life of Purpose You Want)
The techniques the men used to justify keeping the debts off the balance sheet varied, but they typically involved the use of companies that were loosely related to Kreuger & Toll and Swedish Match. Their argument was that the debts really belonged to those related companies, not to Ivar’s companies, and therefore they did not need to be listed on the balance sheet. Swedish Match became one of the first companies to borrow millions of dollars through a complex web of interlocking and related corporations and partnerships without recording those borrowings as liabilities on its balance sheet. During the second half of 1919, Ivar and Rydbeck had suggested to a group of bankers the idea of “a syndicate apart from the Swedish Match Company.”6 The key word was “apart.” Swedish Match would obtain funding through private side deals with several banks. Ivar would use the money for a range of purposes: pay dividends and interest, expand match exports, buy new factories and raw materials, and invest in new industries. Then, Swedish Match would record any gains from these activities in its financial statements. However, it would not record any corresponding liabilities.
Frank Partnoy (The Match King: Ivar Kreuger and the Financial Scandal of the Century)
Many people lost their livelihoods several times over in the 1990s and 2000s: first their salaried jobs, then a portion (or all) of their livestock owing to rapid privatization during the winter, and finally money invested to launch a business that subsequently failed. Some of the reasons behind the bankruptcies and losses of private entrepreneurs are clear… Upon receiving their livestock, the townspeople panicked and rushed to locate a relative or friend among the herdsmen in the countryside who would agree to take care of their livestock. The herdsmen themselves, however, had not known to prepare extra hay or fences and could provide little help to their relatives from the sedentary center. More disconcerting, many people simply did not understand that privatization signaled the end of the SF jobs and salaries, and that the livestock was given to them to enable them to subsist independently of the state. They either slaughtered and ate their share of the livestock or sold their animals to traders. Some even assumed that the livestock distributed to them was a one-time gift from the state; others thought it was an annual bonus or a reward from the state. Overall, people were confused about the distribution of animals. Purvee lamented to me: ‘No one explained to us that from now on we would be on our own and that the state would not provide us with the services and direction it had for many decades. We did not know that we now had to take care of ourselves, without any support from the state! We did not understand what privatization really meant!”… State socialism… tried to make economic production, transactions, prices, and exchanges as predictable as possible. Because the state was the main and often the only client, the marketability and competitiveness of products were not a concern for CFs so long as they met established standards. Similarly, the CFs were not worried about appealing to buyers, competing with other CFs for customers, or, in general, predicting demand and adjusting their strategies. Although the system limited (and sometimes prevented) individuals and enterprises from making a profit, it also freed people from having to search for a market and from traveling long distances with highly perishable products for which the sales outcome was uncertain. For many, the CFs were a better system than individual domestic herding of private livestock. Of course, the CFs had many shortcomings, both systemically and as individual enterprises. But in the context of post-socialist impoverishment and uncertainty, many herders missed the security and safety that CFs provided… The distinction between the haves and the have-nots was sharpened, but the distance between the two was as short as one zud, flood, or other natural disaster. Without state support, livestock was constantly under threat. For instance, without state extermination brigades, wolves and foxes regularly raided the herds. The price of a bullet almost equaled the price of a sheep, so many herdsmen could not afford to shoot the attackers regularly. Family members took turns guarding their livestock, and it was rare for a nomadic family to pass an uneventful night. Both men and women complained about the backbreaking labor and about not being able to get away from their household duties in order to see a doctor or visit a sick relative in the hospital… The privatization of SFs was a matter not only of property ownership, as Verdery revealed (2004), but also of the ownership of risk, liability, and debt against properties that were losing value. And specific to Mongolia, the new owners also most likely took on a share of the debt. Some of the economic programs instituted during socialism were never intended to generate profit; their purpose was political and ideological—settling the vast land, managing the population, and creating an illusion of prosperity and development…
Manduhai Buyandelger (Tragic Spirits: Shamanism, Memory, and Gender in Contemporary Mongolia)
Years ago, I represented a client, a firefighter/paramedic, in an administrative trial after he had been terminated for allegedly providing patient care that was below the department’s established standards. One central issue was the ongoing, on-the-job training firefighters/paramedics receive. Throughout the trial, senior officers of the department, including the Chief himself, preached and bloviated on and on about how the department is committed to providing only the best patient care and how their paramedics are held to a higher standard; how they are committed to serving the community with the highest level of blah, blah, blah. On cross examination, however, I asked each of them about how many hours a day each provider spends drilling or practicing firefighting technique and equipment. Each of them answered proudly that every firefighter/EMT and firefighter/paramedic, regardless of assignment, spends at least three hours each day practicing firefighting skills and/or rehearsing the use of various firefighting equipment; hoses, ladders, saws, and other firefighter equipment. Ok, that’s great. Through testimony, we determined that, based on a 10-shift work month, each firefighter/paramedic, regardless of assignment, spends at least 30 hours per month drilling, practicing, and/or rehearsing firefighting skills & equipment. That’s at a minimum of 360 hours per year of ongoing, on-the-job firefighter training. Outstanding. When the smoke is showing and the flames are roiling, they will be ready. They all displayed the same proud grin at how well trained their people are. For each of them, however, that smug grin quickly turned when I then asked about the number of hours per day each firefighter/paramedic spends drilling on or practicing patient care related techniques, skills, and tools. Every one of them squirmed as they responded with the truth that the department only offers three hours of patient care related education per month. That’s roughly a maximum of 36 hours of paramedic training for the entire year. It got worse when further testimony showed that patient care related calls account for more than 80 percent of their call volume and fire related calls less than 20 percent, I could see each of them deflate on the witness stand when I asked how they could truthfully say they were committed to providing the best patient care when barely 10 percent of their training addresses patient care, which constitutes over 80 percent of your department’s calls. The answers were more disjointed and nonsensical than a White House press briefing. Of course, across America the 10:1 ratio of ongoing firefighting training to EMS training is pretty consistent, which begs the question: Don’t they get it? Excellence is the product of practice. How can any rational person look at a 10:1 training ratio and declare themselves committed to the highest level of care? How can an agency neglect training on the most significant aspect of the business and then be surprised when issues of negligence and liability arise? Once again, it seems that old-school culture leaves EMS stuck in the mud and the law is not going to wait for agencies to figure out that living in the past compromises the future.
David Givot (Sirens, Lights, and Lawyers: The Law & Other Really Important Stuff EMS Providers Never Learned in School)
A man’s ego in his greatest asset or his greatest liability, according to the way he relates himself to it.
Napoleon Hill (The Master Key to Riches)
When you buy an airplane ticket, the airline charges your credit card immediately, even if you are not planning to fly for another three weeks. Accountants call such funds deferred revenue. Because of its name, deferred revenue sounds like something we should discuss in this chapter. Deferred revenue is indeed related to revenue—it will turn into revenue eventually—but it does not belong here. Remember the GAAP principle of conservatism? It says, in part, that revenue should be recognized when (and only when) it is actually earned. Deferred revenue is money that has come in but is as yet unearned. So it can’t go into the income statement. Instead, accountants put deferred revenue on the balance sheet as a liability—that is, an amount that the company owes to somebody else. In the example, the airline owes you a flight. We’ll discuss deferred revenue further in part 3
Karen Berman (Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean)
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A strong statement of financial position is one that shows relatively little debt and large amounts of liquid assets relative to the liabilities due in the near future. A strong income statement is one that shows large revenues relative to the expenses required to earn the revenues. A strong statement of cash flows is one that not only shows a strong cash balance but also indicates that cash is being generated by operations. Demonstrating that these positive characteristics of the company are ongoing and can be seen in a series of financial statements is particularly helpful in creating confidence in the company on the part of investors and creditors. Because of the importance of the financial statements, management may take steps that are specifically intended to improve the company’s financial position and financial performance. For example, cash purchases of assets may be delayed until the beginning of the next accounting period so that large amounts of cash will be included in the statement of financial position and the statement of cash flows. On the other hand, if the company is in a particularly strong cash position, liabilities due in the near future may be paid early, replaced with longer-term liabilities, or even replaced by additional investments by owners to communicate that future negative cash flows will not be as great as they might otherwise appear.
Williams (Financial & Managerial Accounting)
Cizek had used art as the point of entry of his thinking into a whole new world of education—an avenue that had never occurred to me. He realized that children by nature are capable of real, indeed often great, art; that artistic activity is natural for them; and that adult interference in the natural development of children as artists was detrimental to that development. From that starting point, he made a leap into the entire realm of education and child development, concluding that the natural, unhindered growth of children enables them to reach their full potential as human beings, and that adult interference in general is more of a liability than an asset in this process of growth. That leap, from art to all domains of maturation, was an intuitive one for Cizek and his followers. It was not until I read the article referred to in the opening paragraph of this section that I not only gained an understanding of the real basis for Cizek’s intuitive leap, but I also achieved a new and enriching perspective on the nature of education, one that I had hitherto hardly noticed. The key is the observation that certain activities are universal, transcultural, and therefore related to the very essence of being a human. Even more significant and telling—and here once again Cizek hit upon the truth, albeit not consciously—is the fact that these same activities are engaged in by children from the earliest age, and therefore are not, indeed cannot be, the products of sociocultural influences. This places these activities in the realm of biological evolution rather than the realm of cultural history.50 And because these three activities—making music, decorating things, and talking—are the outcome of hundreds of millions of years of evolution, they must represent in and of themselves an important aspect of the exalted place humans occupy in the natural world. In other words, these activities not only represent the outcome of evolution, but they also represent important features that account for the specific place that the Homo sapiens species occupies in the natural order. To allow children—and indeed adults—to engage in these three activities to their heart’s desire is to allow them to realize their fullest potential as human beings. External interference in their exercise, although perhaps sometimes justifiable for social reasons (man is, after all, a social animal too, another aspect of evolution), always involves some diminishing of their ability to become what they by nature are inclined to be. Once this is realized, it is almost impossible to comprehend the enthusiasm with which educators and child development specialists advocate systems for coercing children, against their clear inclination and will, to curtail these activities in favor of an externally imposed adult agenda. Although there might have been some economic justification for such curtailment in the industrial age, there is no longer the slightest pretext of an advantage gained through the suppression of the natural, evolved behavior of children. In
Russell L. Ackoff (Turning Learning Right Side Up: Putting Education Back on Track)