Definition and quantification of assets

The word ‘asset’ was originally taken into the English language, from the Latin ‘ad satis’ and French ‘asez’, as a term used at law meaning sufficient estate or effects to discharge debts. It later came to be used in the sense of property available for the payment of debts. Assets were understood to be property (objects owned and rights of ownership) that could be exchanged for cash. The importance of factual knowledge of the money equivalents of property and debts, in managing mercantile affairs, was emphasised in accounting manuals during the eighteenth and nineteenth centuries. The rights of investors and creditors to factual up-to-date information about the financial state of affairs of companies, given the advent of limited liability, underscored the early company legislation that required the preparation and auditing of statements of property and debts. During the latter part of the nineteenth century the emphasis in accounting moved away from assets as exchangeable property to assets as deferred costs. Expectations took the place of observables. The abstract (expectational) notion of assets as ‘future economic benefits’ was embraced by accountants in the absence of rigorous definitions of the elements and functions of dated statements of financial position and performance. Assets are quantified financially by a heterogeneous mass of potentially inconsistent rules that, by and large, have no regard for the empirical nature of measurement. Consequently, accountants have failed to provide the community with up-to-date factual information about the financial state of affairs and performance of business entities - and, hence, with an informative basis for financial action.

Macroscale chromatography in the classroom

This paper describes how a simple macroscopic working model can be constructed to demonstrate the operation of chromatography in the classroom. Since the resources for construction may vary from school to school, the effect of varying 'molecular size'and packing parameter on the operation of the'chromatography column'have been investigated to provide guidance for teachers in the selection of materials to construct your own macroscopic chromatography column. Macroscopic working models help students make the link between the macroscopic observables e.g. retention time) and the conceptual explanations of the phenomenon at the microscopic level, thus helping to overcome most of the confusion and misconceptions associated with chromatography.The column is effective because it can engage kineastic, visual and auditory learning modes.The working model presented here separates components on the basis of size; other models, which separate by shape, mass, type of material, etc, are also mentioned.