Specific Phobias in Children - Free Essay Example

This research paper will discuss specific phobias among pediatric population: the major topics this paper will address will include how children develop a specific- phobia as well as the most effective treatment for phobias in children. Specific phobia is defined as an extreme fear of a specific object or situation (Sue, Sue, Sue, Sue, 2016). Someone with a specific phobia will react to a stimulus in a way of extreme panic and anxiety in a way that is not equally related to the danger of the stimulus. The primary categories of specific phobias are: living creatures, environmental conditions, blood/ injections or injuries, as well as situational factors. The most common fears among children are; spiders, the dark, scary movies and the fear of being teased. The etiology of phobias includes predisposing genetic factors that interact with psychological, social and sociocultural influences. Having history of anxiety within the family and negative relationships during the early ages are major factors into developing a phobia (Sue, Sue, Sue, Sue, 2016). In psychology there is a multipath model when talking about mental disorders that directly relates to specific phobias as there are a type of mental disorder. Author Sue, Sue, Sue Sue (2016) defined this multipath model a model that provides organizational framework for understanding the numerous influences on the development of mental disorders, the complexity of the interacting components, and the need to view disorders from a holistic framework. The biological dimension will look at the etiology of a phobia in the sense that an individual with a specific phobia as an innate tendency to be anxious as well as have strong emotional response to stimuli. Etiology of phobias from the psychological dimension have several different pathways of how a phobia is developed. The four main perspectives of how a phobia develops in the psychological dimension is through; classical conditioning, observational learning, negative information, and the cognitive behavioral. The sociocultural dimensi on looks at phobias as a level of disgust among different genders, and cultural differences. In the social dimension there is focus on the parental behaviors and these translate to the children. Typically, positive treatment of phobias is through pharmacological treatments by treating anxiety and cognitive behavioral treatments that include Exposure Therapy, Systemic Desensitization, Cognitive Restructuring, and Modeling Therapy. In psychology there are several different perspectives of the etiologies of all the different mental disorders, this is also true when looking at the etiology of phobias as well as the less severe state known as fear. In general, the perspectives are classified into the four dimensions; biological, psychological, social, and socio-cultural (Sue, Sue, Sue, Sue, 2016). The etiology of phobias as well as fears over lap since fear is the initial response that initiates a phobia. The perspectives are broken down further into specifics to directly reference phobia etiology; the classical, vicarious, and informative pathways for fear acquisition, the preparedness framework, non-associative theory, fear module theory, and cognitive models. Coelho and Purkins (2009), looked in to each of these different perspectives by looking at different prior research that fell into each perspective. The classical, vicarious and informative pathways for fear purpose that fear in general is learned from parent and guardian influences. One study showed the levels of fear in a child based on the mother or female guardian in a childs life, how she would display responses of fear. If the mother of child expressed high levels of a fear response in front of a child to a specific stimulus the child would also show a high fear response to a stimulus would also be very high and likely cause he child to develop a phobia. Whereas, if the mother of a child was able to contain their fear response to a stimulus the child would have not have a fear response to the stimulus (Coelho Purkins 2009). Ultimately, this showed that a childs fear response is highly dependent on the mothers fear response. The second perspective the Coelho and Purkins looked at was the preparedness framework. This perspective looks at the specifics of how biologic components play a role in the development of a phobia. The preparedness framework looks at the idea that particular stimuli are evolutionarily predisposed to generate a fear response in humans. According to Coelho and Purkins (2009), Charles Darwin noticed that some fears might appear by natural selection. After observing his 2-year-old son being afraid of large animalsDarwin questioned whether fears in children, that seem independent of experiences are effects of hereditariness of real dangers during prehistoric times. A later study that was conducted by Rachman showed a perspective that overtime children will develop the needed abilities to deal with predispositions to fears and actual fears by habituations and experiences. Fears that were not eliminated be resistant to extinction and habituation and were thought to be conditionally learne d, resulting in the rare and uncommon fears that lead to phobias and the environment helps in this process (Coelho Purkins 2009). An example of this theory is that a child that lives in an urban area may be more likely to be afraid of animals such as horses or chickens whereas a child that lives in a country area would be more likely to not be afraid of these farm animals. The reasoning behind this is due to the level of exposure to the stimuli each child experienced, thus leading the comfortability level each child has with the stimulus resulting whether a fear response is activated. This next perspective of how phobias come to be is counter to preparedness, is the non-associative theory. The non-associative theory originates from the observation that each species have fears that are part of their development. But the hypothesizes these may occur without the direct or indirect experiences with the stimulus (Coelho Purkins 2009). Classical condition does not need to occur for a phobia to happen but there has to have been a stimulus or situation that occurred for fear responses to be activated. The studies conducted show that fear is not innate, so a child will not express fear upon the first interaction with the phobic stimulus. The following perspective is the Fear Module Theory, this theory was formed to account for the uneven distribution of fear while discounting non-associative fear acquisition. The fear module theory looks at four characteristics; relative selectivity to stimuli, automaticity, encapsulation and specific neuronal circuit (Coelho Purkins 2009). Selectiveness looks at the extent to which a certain stimulus activates the fear module. Automatism is fast reflex activation of defense to a stimulus. Encapsulation is the relative independence and resistance of the fear response, from conscious cognitive control. The neuronal aspect of the fear module looks at the idea that the fear module is controlled by a specific circuit (Coelho Purkins 2009). The final etiology perspective of phobias is cognitive models. Cognitive models look at the idea that conditioning can be conceptualized as a cognitive process. A participant will learn to that a determined stimulus precedes adverse outcomes. Fear is not only related to a biological preparation, but also to attributions regarding safety and danger to a stimulus. In general, this perspective looks at the ability that I child has to cope with the stimulus. This is directly related to the whether a child maybe anxious or not. Their level of cognitive ability to process the stimulus will play a role in the way that they respond. Understanding the etiology of phobias is crucial determining the treatment approach. It is clear that cognitive behavioral treatments are the basis when treating a child that has phobias. While there are many forms of cognitive behavioral treatments, intensive exposure treatments seem to be common. In an original study Davis et al. (2009), focused on one session treatment and the exposes process needed. The process of the authors experiment is summarized as followed. Before the main set of treatment, clinicians used diagnostic and functional assessment to find the exact type of stimulus that caused the fear reaction in each child. Diagnostic assessment is crucial in establishing the phobia and the fear response but also in the planning the treatment session, the functional assessment allows for the transition between assessment and treatment During this point the clinician would try to get the child to want to be involved with the process rather than just agreed to go along. During this point in time the parent and child motivation was determined to understand the purpose of the treatment. (Davis et al. 2009). The purpose of the treatment was to use mechanisms to elect fear, so cognitions could be activated and addressed, permits fear to habituate and avoidances to extinguish, as well as prevented behavioral and cognitive avoidance in safe environments. Treatment consisted of one three-hour session with breaks only to combat fatigue of the child but did not reinforce any avoidance behaviors. During treatment the child was exposed to age appropriate cognitive challenges, this would include asking the child what they think would happen during exposure and then asking the child to discuss what happened during this step of exposure. It is important to highlight the positives of the situation with the child, making sure the child understands that what they thought would happen is not what actually happened. The clinician may also use participant modeling. This can include the clinician modeling the step of exposure with the stimulus as well as modeling the proper coping techniques to go along with the size of the stimulus. This part of the treatment starts with the clinician showing how to deal with the stimulus, to including the child, to the clinician removing self from modeling the situation. During each exposure step the child is continuously exposed to the stimulus until fear is reduced by 50 percent, this will ensure routine to the child to reduce the fear the stimulus causes. Reinforcement is used to give the kids a sense of accomplishment. Verbal praise and physical contact of such as a pat on the back. During the reinforcement do not allow a chance for avoidance. Praise should be given for a positive improvement, praise should never be given to a child that expresses avoidance behaviors. (Davis et al. 2009) After the treatment session parents were brought in to have the children show their parents their new-found skills and ability to interact with stimulus as a positive reinforcement of the behaviors. A this point parents are informed about the positive coping mechanisms that the child learned during the treatment session. They also received information to help the child with self-exposure experiences. Self-exposures should occur for constantly for one month after session to solidify and maximize the treatment gain (Davis et al. 2009). The experimenters had concluded that this type of a treatment would be highly effective in children and to be the most cost and time effective form of treatment. Being able to have the length of exposures be longer made it easier for the habituation of the phobia. One longer treatment of 180 minutes had higher effects that 300 minutes of spaced out treatment. The next treatment method ties into the previous treatment, this treatment is the combination of pharmacological and cognitive behavioral. Farrell, (2018) looked at the effect of D-cycloserine we paired with one session treatments. The main focus of the experiment was to see if D-cycloserine enhanced exposure therapy outcomes. The effects of D-cycloserine in children were compared to those that received a placebo. Opposing the hypothesis that D-cycloserine would have enhancing effects, there were no major differences of the effects of the children that received D-cycloserine versus the children that had had the placebo. This experiment was a small sample size resulting in a limitation of not having enough information to fully rule out the effectiveness of augmenting one session treatments with D-cycloserine. The next part of the paper will outline limitations of treating children with phobias that also have ADHD. A large part of the child population has ADHD or express behaviors that are typical of ADHD, a major question in the study of child phobias is how effective treatment would be in these children. In an experiment conducted Halldorsdottir et al. (2016), looked at the effectiveness of both one session treatments and educational support treatment in treating phobias in children with ADHD. Symptoms continued to be significantly associated with poor long term out comes of both one session treatment and educational support treatment. For one session treatments, ADHD interfered with sustained anxious arousal that is necessary for habituations to occur and to solidify the effects of a one session treatment. This is due to the distractibility of ADHD, decreasing the effectiveness of exposures. But conduct problems related to ADHD do not affect cognitive behavioral treatment of anxiety. Ed ucational support treatments were not effective because psychoeducation interferes with the cognitive behavioral therapy. The more one knows about the treatment and the phobias the less effective treatment will be (Halldorsdottir et al. 2016). In conclusion, it is clear that there are many different perspectives to the etiology of phobias in children. Understanding each of these perspectives and how they all interact with one another will ultimately be the deciding factor for treatment options. Observations concerning distinct models of fear acquisition are best understood as part of a continuum. Looking at and understanding each of the extreme ends allows for the better understanding of the middle of the continuum. In an extreme case of fear response being purely innate, these are so prepared that they show as instinctual defensive reactions. The opposite side of this continuum are the situations should be due to aversions being related to a large quantity of aversive experiences. (Coelho Purkins 2009). Behaviors cannot be plainly separated into cognitive and emotional categories, the areas of the brain work in connection to one another rather than in isolation. Fear relevant stimuli are more infrequent to non-fear-rela ted stimuli, fear of a stimulus comes from the idea that familiarity and experiences. The most common form of treatment is cognitive behavioral, one session exposure therapy treatments and the use of pharmacological treatment has not been proven to be as effective (Coelho Purkins 2009; Farrell 2018). While this appears the most effective way to treat phobias in children there remain limitations regarding the populations the treatment will work on as it was not effective in children with ADHD (Halldorsdottir et al. 2016). References Coelho, C. M., Purkins, H. (2009). The origins of specific phobias: Influential theories and current perspectives. Review of General Psychology, 13(4), 335â€Å"348. https://doi-org.ursus-proxy-1.ursus.maine.edu/10.1037/a0017759 Davis, T. E., Ollendick, T. H., ?–st, L. (2009). Intensive treatment of specific phobias in children and adolescents. Cognitive and Behavioral Practice, 16(3), 294-303. doi:10.1016/j.cbpra.2008.12.008 Farrell, L. (2018). D?cycloserine?augmented one?session treatment of specific phobias in children and adolescents. Brain and Behavior, 8(6): 10.1002/brb3.984 Halldorsdottir, T., Ollendick, T. H. (2016). Long-term outcomes of brief, intensive CBT for specific phobias: The negative impact of ADHD symptoms. Journal of Consulting and Clinical Psychology, 84(5), 465â€Å"471. https://doi-org.ursus-proxy-1.ursus.maine.edu/ 10.1037/ccp000008 Sue, D., Sue, D. W., Sue, D. M., Sue, S. (2016). Understanding abnormal behavior. Stamford, CT: Cengage Learning. Waters, A. M., Bradley, B. P., Mogg, K. (2014). Biased attention to threat in pediatric anxiety disorders (generalized anxiety disorder, social phobia, specific phobia, separation anxiety disorder) as a function of distress versus fear diagnostic categorization. Psychological Medicine, 44(3), 607-16. doi:https://dx.doi.org.ursusproxy1.ursus.maine.edu/10.1017/S0033291713000779

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Across Organizational & Cultural Boundaries - myassignmenthelp.com

Question: Discuss about theAcross Organizational Cultural Boundaries for Learning. Answer: Six main bases for collaborative advantage The six main bases of collaborative advantage are access to resources, shared risk, efficiency, coordination and seamlessness, learning and the moral imperative. The organization collaborates to share resources when they cant accomplish their objectives with individual resources, for instance, pharmaceutical companies which require resource for production and marketing collaborate to share resources(Kozlenkova, Samaha and Palmatier 2014).Organization collaborates to share the risk of failure of a project, for instance RD projects. Organizations collaborate to gain efficiency in terms of outsourcing, operational efficiency, coordination and economies of scale, for example, public-private partnership (Bingham and O'leary 2014). Coordination and seamlessness is a part of efficiency of an organization, collaboration also promotes mutual learning of organizations. Most importantly, organizations collaborate on moral imperative to eradicate problems on national, society, industrial and org anizational levels (Foss. and Knudsen 2013). Why BenQ initially wanted to join efforts with Siemens Taiwanese companies witnessed a shrink in profit margins for contract manufacturing. In order to achieve a profitable future, the Taiwanese companies wanted to move beyond low-cost manufacturing. Taiwanese companies wanted to build their individual brand names rather than being a contract manufacturer who is almost anonymous in the marketplace. BenQ, the Taiwanese company wanted to acquire Siemens, the German company for its existing brand name which was attractive. BenQ also wanted to enhance its global presence by acquiring Siemens. The launch of the brand Ben-Q Siemens by acquisition of the mobile phone division of Siemens which was losing money proved to be advantageous for BenQ. The merger helped BenQ to become the fourth largest brand of mobile phones across the globe after Nokia, Samsung and Motorola. K.Y. Lee, the chairman of BenQ felt that he will be able to generate profits from the debt-ridden unit of mobile phone of Siemens. Lee was of the opinion that because of the glob al distribution and sales channel of BenQ it was easier for BenQ to achieve profit easily. The manufacturing facilities and economies of scale of Ben Q would also increase by choosing a complimentary partner like Siemens. BenQ initially wanted to join efforts with Siemens because the organization felt that this merger and acquisition will lead to a win-win situation for both companies as more synergy and value in the marketplace will be created by the formation of the brand name BenQ-Siemens (Cheng. and Seeger 2011). Bases for collaborative advantage of the collaboration between BenQ and Siemens The German company, Siemens was not directly paid by BenQ. The 100% stake of mobile phone division of Siemens was acquired by BenQ. Initially an amount of 250 million Euros was provided to BenQ by Siemens for funding the business, later 50 million Euros was spent by Siemens to purchase shares of BenQ which were issued newly. Siemens also incurred the loss of the unit, 1.5 million Euros loss per day. Siemens collaborated with BenQ to develop technologies for handsets. The rights of co-branding was vested to BenQ- Siemens within a tenure of 5 years and the right for the usage of the trademark of Siemens was gained by BenQ for a period of 18 months. BenQ wanted to fulfil the contract agreement of labour with the cell phone employees of Siemens. The share of Siemens was up by 3% and rose to 61.9 Euros because of the transaction (Cheng. and Seeger 2011). Ultimate outcome of the collaboration between BenQ and Siemens The collaboration of BenQ and Siemens failed ultimately. After purchasing the handset division of Siemens, the shares of BenQ dropped by 2.7 % on the Taiwan Stock Exchange. The new business division of BenQ Mobile commenced its operation in October, 2005 in Munich, Germany with 7000 employees across the globe. The handset operations of Siemens allowed BenQ to compete with leading brands, but the current prime customers of BenQ had a conflict of interests because of the collaboration between Siemens and BenQ. By September 2006, BenQ decided not to invest money in its German subsidiary to cut loss. The interests of the creditors were protected and the subsidiary filed for insolvency in Munich court. There was loss of 3000 jobs in German because of this failure. The high context culture of BenQ and the low context culture of Siemens, failed communication and difference in organizational culture resulted in this failed acquisition. The media commentators, labor leaders and politicians in Germany felt that BenQ did not have experience in marketing and lacked competence and the acquisition of Siemens by BenQ was an economic and social disaster (Cheng. and Seeger 2011). The Critical Challenges those Multicultural companies might face Multicultural companies face challenges with communication, difference in culture and diversity. The difference in culture among employees of a multicultural company results in language barriers and communication practices which are divergent in nature. Intercultural communication has two comparison points which are influential which are 1) The idea of context and 2) The value/ belief theory of culture. A multicultural company has a workforce with different cultural values, for instance, the high-context culture where people demonstrate deep involvement with one another and in a low context individualized culture where people are demonstrate little involvement with each other. Values are the foundation of culture and collective programming is influenced by values (Huxham and Vangen 2013). The people belonging to similar culture share similar patterns of feeling, thinking reacting and acting and thus a particular event is perceived in different ways by people from different cultures. Power distance, masculinity or femininity, avoidance of uncertainty, individualism or collectivism and long-term and short term orientation are different cultural dimensions founded by Hofstede. Multi-cultural companies have a diverse workforce from different countries and thus their cultural values are affected by the 5 cultural dimensions of Hofstede. Also multicultural companies have multicultural teams and have to deal with challenges of diversity-both surface level diversity like ethnicity, age, gender and deep-level diversity like differences in values, attitudes and beliefs. Also, people with different cultural background have different mode of learning and it is a challenge for multi-cultural companies (Hunt 2014). Cultural difference challenge in case of BenQ and Siemens BenQ is a company from Taiwan and Siemens is a company from German. The culture of BenQ was influenced by oriental Confucian culture whereas that of Siemens was Germanic European culture. The culture in Taiwan is more collectivist and rule-oriented and less assertive and future oriented. The culture in German is focused on contracts, agreements, individual rights and personal independence. On the index of individualism, Germans scored 67 and Taiwanese scored 17. Taiwanese society has a collectivistic culture and employees have a strong sense of organizational belonging while Germans prefer challenges, time, and freedom and are highly individualistic. The difference in culture created a gap between the German subordinates of Siemens who were highly individualistic and Taiwanese employers of BenQ who were highly collectivistic. There was turnover in executive management of Siemens. Taiwanese scored 58 and score of Germans was 35 in the scale of power distance. Germany has a strong unio n and collective tariff agreements between representatives of trade unions and employers association fix salaries of German employers. Germans separate work and private lives, they do not work on Sundays and public holidays and have six weeks of paid vacation while Taiwanese are ready to work on weekends and holidays if there is a requirement by their organization. Thus, BenQ faced the challenge of maintaining good relationship with union labor of Siemens. In the index of avoidance of uncertainty , Taiwanese ranked 69 and Germans ranked 65. Taiwanese have fear of failure and avoid risks. The electronics company of Taiwan adopts procedures of cost-cutting and after acquiring Siemens, BenQ had NT$36.7 billion loss. Business schedules in German are flexible while it is rigid in Taiwan. The production schedule, new product development and marketing plan of BenQ were delayed after acquisition of Siemens because of the difference in organizational culture. The R D of new products across BenQ and Siemens and the incompatible culture of the two companies were not integrated by BenQ and thus the company faced financial problems due to the cultural difference. BenQ was a Taiwanese company and focused on product diversification, adaptability, resilience, flexibility and innovation with an informal organizational structure whereas Siemens had a formal organizational structure with a decision-making process which was methodical. Also, there were challenges of cross- cultural communication, the Taiwanese have a subtle style of communication while communication style in German companies are assertive, the employees of BenQ could not speak German resulting in barriers of communication. The intercultural failure resulted in failed acquisition of Siemens by BenQ (Cheng. and Seeger 2011). Actions taken to minimize each of the challenges Actions were taken to minimize the challenges. BenQ managed to maintain a cordial relationship with the labor union of Siemens. Lee, the chairman of BenQ made a public apology to the stakeholders of German and Taiwan at Institutional Investor Conference and promises for the future was delivered in this conference. Lee also hoped to recover the financial loss and achieve healthy growth. In order to take corrective action to meet the financial crisis, Chairman Lee wanted to resign at the board meeting. Trust between BenQ and Siemens Initially trust was displayed between BenQ and Siemens in order to achieve collaborative advantage financially and operationally. Chairman Lee of BenQ retained the CEO of Siemens Joos along with 2800 R D employees in order to make a smooth transition. However, the employees of Siemens did not have trust in BenQ. The mechanism of internal communication adopted by BenQ at the beginning of the deal was not appropriate resulting in anxiety and rumors among German employees. There was miscommunication and disagreement over the new products development process and the speed of reorganization between the German management and headquarters at Taipei of BenQ. The decision of BenQ to terminate financial support for the German subsidiary was rational for Taiwanese but was severely condemned in German. The implementation plan of new business strategies for BenQ- Siemens unit was not communicated among employees in a concise and consistent manner by BenQ resulting in miscommunication and lack of trust. The employees of BenQ was not fluent in German and there was communication barrier between the companies resulting in lack of trust because the high context Taiwanese culture preferred subtle communication while the low-context Germans preferred to communicate directly. Lee did not communicate directly about the layoff of the employees of Siemens to avoid direct disagreement and thus the German employees felt deceived later on (Cheng. and Seeger 2011). The ways trust can be built and restored for a better collaboration outcome Trust can be restored for a better collaboration outcome with the help of an innovative communication model (Alguezaui and Filieri 2014). The two clashing cultures of companies during a merger and acquisition process can be integrated with the help of an open communication model. The organizational uncertainty and stress can be successfully reduced with clear communication. The anxiety and tension of employees increases due to communication gap resulting in grapevine. In culturally distant countries misinterpretation occurs of the actions and messages of the acquiring firm which are misconstrued, ambiguity can be reduced and expectations can be clarified by adopting an open communication model. Foreign language proficiency among employees can reduce the barrier in communication and build trust resulting in better collaborative outcome. The communication process should be clear and concise for a better collaborative outcome and to build trust. The communication program should be emplo yee-centered and the organizations should focus on a high level of relationship building among employees to restore a better collaborative outcome. Also, the managers of an organization should make sure that employees are not deceived by revealing accurate information. The concept of face-concern is of paramount importance to build trust, for instance, individualists try to save their own face and collectivists save the face of members of a group. In order to restore a better outcome of collaboration and build trust, the difference of the high context and low context organizational culture should be minimized. A balanced approach between individualism and collectivism, power distance and avoidance of uncertainty can result in a better outcome of collaboration. The board of directors should protect stakeholders when an organization is hit by crisis to build trust and restore collaboration. Reference Lists Alguezaui, S. and Filieri, R., 2014. A knowledge-based view of the extending enterprise for enhancing a collaborative innovation advantage.International journal of agile systems and management,7(2), pp.116-131. Bingham, L.B. and O'leary, R., 2014.Big ideas in collaborative public management. Routledge. Cao, M. and Zhang, Q., 2013. Introduction. InSupply Chain Collaboration(pp. 1-15). Springer London. Cheng, S.S. and Seeger, M.W. (2011). Cultural Differences and Communication Issues in International Mergers and Acquisitions: A Case Study of BenQ Debacle. International Journal of Business and Social Science, Vol. 2, No. 24, Special Issue December 2011. Foss, N.J. and Knudsen, C. eds., 2013.Towards a competence theory of the firm(Vol. 2). Routledge. Hunt, S.D., 2014.Marketing theory: foundations, controversy, strategy, and resource-advantage theory. Routledge. Huxham, C. and Vangen, S., 2013.Managing to collaborate: The theory and practice of collaborative advantage. Routledge. Kozlenkova, I.V., Samaha, S.A. and Palmatier, R.W., 2014. Resource-based theory in marketing.Journal of the Academy of Marketing Science,42(1), pp.1-21.

Presentation of the Various Financialâ€Free Samples for Students

Question: Discuss About The Presentation Of The Various Financial? Answer: Introduction: In the case given, there are mainly 2 proposal on which the board of the directors of the company are confused as to which alternative must be chosen. This report relates with the issue of shares and the other with the sale and leaseback of the land and building. Issue of shares: The AASB 132 deals with the presentation of the various financial instruments. In respect of the equity instruments, the examples of which includes the non-puttable ordinary shares, many types of the preference shares and warrants along with the written call options helps the holder to subscribe for the purchase of a fixed number of the non-puttable ordinary shares in the issuing entity and this is done in exchange of the fixed amount of cash or any other financial asset. The obligation of the entity to either issue or purchase the fixed number of the equity instruments would be in an exchange of the fixed amount of cash or any other financial asset which is also the equity instrument of the entity. But there is a contract that includes the obligation for the entity to pay cash or any other financial asset. This further gives rise to the liability for the present value for the redemption amount. The issuer of these non-puttable ordinary shares takes into account the fact that there a re many of the formal acts that make the distribution and also become somewhat legally obliged to the shareholders in doing the same. This would be so when there is a declaration of the dividend or when the entity is being wound up or in the case, there are any assets left out after the satisfaction of the various liabilities that becomes distributable to the shareholders. There is a purchased call option or there are some of the similar contracts that have been acquired by the entity and that gives them the right to acquire the fixed number of the equity instruments in exchange of the delivering of the fixed amounts of cash or any other financial asset which is not a financial asset for the company. Further, in respect of the settlement of the equity instrument of the company which are its own, the examples of which includes the classification of the different types of the contracts of the own equity instruments of the company. These would further include the contract that would be settled by the entity when it comes to receiving or delivering the fixed number of the own shares for the future consideration or exchanging the fixed number of the own shares of the company for the fixed amount of cash or any other financial asset which is an equity instruments. As per the standard, any amount of consideration which would be received or be paid for such of the contract would be added or be deducted from the equity. On example of the same would be the issued share option that gives the right to the company to buy some fixed number of the shares of the entity for a fixed amount of cash. In case, there is a contract that requires the entity to purchase its own shares or any other financial assets at some fixed or at a determinable date or in demand, then the entity would recognise that financial liability for the present value of that redemption amount. An example of the same would be the obligation of the entity under the forward contract to repurchase the number of its own shares for a fixed amount of cash. When an entity decides to purchase back its own shares, then that would give rise to the financial liability for the present value of the amount of redemption even in the case wherein the shares have bene obliged to be repurchased and the same is not fixed or in case, the obligation is somewhat conditional on the counterparty that exercises the right of redemption. Another example of the same is the conditional obligation which is an issued option which requires the entity to purchase the own shares of the company for cash in case the counterparty exercises this option (AASB, 2016). There could be a contract wherein the settlement may be in cash or in any other form of a financial asset. This would include the payment of cash or the financial asset that would be delivered or received on the basis of the changes made in the market price of the equity of the company. There could be a contract that could be settled in a variety of ways in the own shares of the company whose value is equal to the underlying value of that asset. Such a contract is considered to be a financial asset or a financial liability (AASB, 2016). The following journal entries would be passed: Proposal 1 Date Details DR CR In case preference shares are issued: 2016 July 1 Cash 10,000,000 5% Preference share capital 10,000,000 2017 June 30 Preference dividend 500,000 Cash 500,000 In case debentures are issued: 2016 July 1 Cash 10,000,000 6% Debenture 10,000,000 2017 June 30 Debenture interest 600,000 Cash 600,000 Conclusion: it would be appropriate if the company goes for the cash payment at the end of the 10 th year. this is since it leads to a reduced cash outflow for the company. Sale and leaseback: The companys usually want to keep leases off their books since they like to defer their expenses and they do the same by the way of reporting their leases as operating leases. The financial Accounting standards Board has the following rule when it comes to treating the lease as the capital lease. The capital lease is when it meets any of the following 4 conditions: If the life of the lease is more than the 75% of the life of the asset. If there is a provision of ownership to the lessee at the end of the term of the lease. If there is an option to purchase the asset at the bargain price as in the end of the term of the lease. If the present value of the lease payments when discounted at the appropriate discount rate is more than 90% of the fair value of the asset (Stern, 2016). Under the given case, company Black Box has an option to purchase back the asset in the end of the 10 years which is the useful life of the asset. Since this condition has been fulfilled, it can be considered as a capital lease. AASB 117 on leases states that this transaction includes the sale of the asset and then leasing the same back to the seller of that asset. The payment of the lease and the sales price is interdependent since these have been negotiated as a package. The accounting treatment for both of these depends upon the type of the lease. In the case, this is a finance lease, then any amount of the excess sales proceeds over the carrying value of the asset, then the amount shall be transferred as income in the statement of profit and loss. The same shall be deferred and also mortised over the term of the lease. In case, the leaseback is a finance lease, then the above treatment shall not be followed. Any excess amount would be deferred and amortised over the term of the lease (Chartered Accountants, 2016). In case, the leaseback is a finance lease, then the transaction would provide the finance to the lease with the asset in the security. It is for this reason that the excess amount is never trea ted as the income in the statement of profit or loss. In case, the sale price of the asset is below its market value, then the any profit or loss that have been recognised shall be deferred and shall be amortised over the term of the lease for which the asset is expected to be used. In case, the leaseback is an operating lease, then the payments of the lease and if the sales price is at the fair value, and there has been a normal sales transaction, then any amount of profit or loss would be recognised immediately. For the purposes of the finance lease, there is no adjustment necessary till there is a fall in the value in the asset in which the carrying amount would go on to reduce the amount of the recoverable as per the requirements of the AASB. The disclosure requirements for the lessees and the lessors would be applied. And the same would apply in the case of the sales and leaseback transactions as well. The required description of the material leasing arrangements would lead to the disclosing of the unique or an unusual provision of the terms and the agreement of the transactions of sales and leaseback (AASB, 2016). The following journal entries would be passed: Proposal 2 Date Details DR CR 2016 July 1 Land 6,000,000 Building 4,000,000 Cash 10,000,000 July 1 Cash 13,000,000 Unearned Lease Rental Revenue 13,000,000 July 1 Unearned lease rental revenue 1,300,000 Lease rental revenue 1,300,000 2017 June 30 Depreciation expense 1,000,000 Accumulated depreciation-land 600,000 Accumulated depreciation-building 400,000 Conclusion: In respect of Proposal 1, it would be appropriate if the company goes for the cash payment at the end of the 10 th year. This is since it leads to a reduced cash outflow for the company. Further, the company must go for the cash payment at the end of the 10th year. In respect of proposal 2, the companys sale and leaseback would be termed as a capital lease. References: AASB 117 Leases. (2016).Charteredaccountants.com.au. Retrieved 7 October 2016, from https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Australian-accounting-standards/Analysis-of-AASB-standards/AASB-117--Leases AASB 1033 Presentation and Disclosure of Financial Instruments. (2016).www.aasb.gov.au. Retrieved 7 October 2016, from https://www.aasb.gov.au/admin/file/content102/c3/AASB1033_10-99.pdf AASB 117. (2016).www.aasb.gov.au. Retrieved 7 October 2016, from https://www.aasb.gov.au/admin/file/content102/c3/AASB117_07-04_ERDRjun10_07-09.pdf AASB 132. (2016).www.aasb.gov.au. Retrieved 7 October 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB132_07-04_COMPapr07_07-07.pdf Operating versus Capital Leases. (2016).Pages.stern.nyu.edu. Retrieved 7 October 2016, from https://pages.stern.nyu.edu/~adamodar/New_Home_Page/AccPrimer/lease.htm