IFRS 9 ‘Financial instruments’: Anticipated effects of the standard change at Kesko Group

IFRS 9 Financial instruments presents the classification and measurement, the impairment and the hedge accounting requirements for accounting of financial instruments. The standard was set by the International Accounting Standards Board to replace IAS 39 Financial instruments: Recognition and Measurement on 1 January 2018. Hence, the long-criticized and complexly experienced requirements for accounting of financial instruments will undergo the most significant reform. This thesis addresses anticipated effects of IFRS 9, focusing on the challenges the new classification and measurement requirements bring forth in the case organization Kesko. This thesis was conducted as an action research, in which, a case study method was applied. The thesis was conducted with a twofold manner, which involved general analysis of IFRS 9 and further covered distinct ambitions related to the case organization. For the general part, empirical data was gathered by interviewing two IFRS experts from KPMG and PwC, while the interviews within the case organization constituted for the case study. Further, the literature on the IFRS 9 was such scant that the theoretical examination was merged with the IFRS experts’ quotations that also strived to contribute to the overall objective of reinforcing the body of research related to the subject. This thesis indicates that IFRS 9 will most fundamentally reform the impairment and the hedge accounting requirements of financial instruments. Regard to impairment, the changes are anticipated to increase the amount of loan-loss provisions, whereas the relaxed hedge accounting requirements are expected to encourage more companies to commence the application of hedge accounting. The thesis provides empirical support on that the term business model for managing financial assets, introduced in IFRS 9, is ably hard to comprehend and remains ambiguous. It goes on to argue that the most prominent issue in defining the business model for managing financial assets is the limits set in IFRS 9 for selling financial assets. In consideration of Kesko, this thesis finds that the key effects of IFRS 9 are anticipated to be the reshaping of the organization’s treasury policy and further examination of the possibility to apply hedge accounting for foreign exchange derivatives. What is more, the thesis presumes that complying the requirements of IFRS 9 Kesko will apply the hold to collect and sell model for managing financial assets in future.

Modelo matemático de reconciliación de datos volumétricos en el control de balances y mediciones de hidrocarburos refinados para el sistema de transporte pozos – Galán L14” de la vicepresidencia de transporte de Ecopetrol S.A

Tesis (Maestria en Ingeniería).-- Universidad de La Salle. Facultad de Ingeniería. Maestría en Ingeniería, 2014

W.A. Mozart's Die Zauberflöte An Arrangement and Performance Edition for Wind Instruments and Vocal Soloists

The purpose of this dissertation is to produce a new Harmonie arrangement of Mozart’s Die Zauberflöte suitable for modern performance, bringing Joseph Heidenreich’s 1782 arrangement—one of the great treasures of the wind repertoire—to life for future performers and audiences. I took advantage of the capabilities of modern wind instruments and performance techniques, and employed other instruments normally found in the modern wind ensemble to create a work in the tradition of Heidenreich’s that restored as much of Mozart’s original thinking as possible. I expanded the Harmonie band to include flute and string bass. Other instruments provide special effects, a traditional role for wind instruments in the Classical opera orchestra. This arrangement is conceived to be performed with the original vocal soloists, making it a viable option for concert performance or for smaller staged productions. It is also intended to allow the wind players to be onstage with the singers, becoming part of the dramatic action while simultaneously serving as the “opera orchestra.” This allows creative staging possibilities, and offers the wind players an opportunity to explore new aspects of performing. My arrangement also restores Mozart’s music to its original keys and retains much of his original wind scoring. This arrangement expands the possibilities for collaboration between opera studios, voice departments or community opera companies and wind ensembles. A suite for winds without voices (currently in production) will allow conductors to program this major work from the Classical era without dedicating a concert program to the complete opera. Excerpted arias and duets from this arrangement provide vocalists the option of using chamber wind accompaniment on recitals. The door is now open to arrangements of other operas by composers such as Mozart, Rossini and Weber, adding new repertoire for chamber winds and bringing great music to life in a new way.

Selbstgesteuertes Lernen mit Kompetenzrastern. Ein theoretischer Blick auf das Potenzial eines pädagogischen Instruments zum individualisierten Lernen

Kompetenzraster sind pädagogische Instrumente, die zum kompetenzorientierten, individualisierten und selbstgesteuerten Lernen in beruflichen Schulen eingesetzt werden. Sie werden üblicherweise im Rahmen eines pädagogischen Gesamtkonzeptes genutzt, indem die Raster oft ein zentrales Instrument in einem komplexen Gefüge schulischer Lern- und Lehrprozesse sind. Kompetenzraster sind häufig der Fixpunkt, an dem sich andere Instrumente (wie Checklisten und Lernjobs) orientieren und sie definieren die Ausgangs- und Zielpunkte der Lernprozesse. Dabei werden den Schülern üblicherweise Freiheitsgrade eingeräumt, so dass sie (mit-) entscheiden ob, was, wann, wie und woraufhin sie lernen. Die schulische Arbeit mit den Rastern kann als ein Versuch angesehen werden, die Lernenden in den Mittelpunkt pädagogischen Denkens und Handelns zu stellen. Dieser Beitrag hat das Ziel, selbstgesteuertes Lernen aus einer distanzierten, vom einzelnen pragmatischen Modell abstrahierenden und eher theoretischen Perspektive auf das individualisierte Lernen mit Kompetenzrastern zu beziehen. Im Kern wird ein Systematisierungsansatz entwickelt, in dem die komplexen Zusammenhänge des Lernens mit Kompetenzrastern im Kontext von selbstgesteuertem Lernen dargestellt werden. Damit soll ein Beitrag zur Elaboration des Lernens mit Kompetenzrastern in beruflichen Schulen geleistet werden. Konkret wird die folgende Frage fokussiert: Was können Kompetenzraster im Rahmen selbstgesteuerten Lernens leisten? (DIPF/Orig.)

Instruments for the study of atomospheric pollution.

Cover title.

Sensor inteligente para medição de cargas mecânicas

A medição precisa da força é necessária para muitas aplicações, nomeadamente, para a determinação da resistência mecânica dos materiais, controlo de qualidade durante a produção, pesagem e segurança de pessoas. Dada a grande necessidade de medição de forças, têm-se desenvolvido, ao longo do tempo, várias técnicas e instrumentos para esse fim. Entre os vários instrumentos utilizados, destacam-se os sensores de força, também designadas por células de carga, pela sua simplicidade, precisão e versatilidade. O exemplo mais comum é baseado em extensómetros elétricos do tipo resistivo, que aliados a uma estrutura formam uma célula de carga. Este tipo de sensores possui sensibilidades baixas e em repouso, presença de offset diferente de zero, o que torna complexo o seu condicionamento de sinal. Este trabalho apresenta uma solução para o condicionamento e aquisição de dados para células de carga que, tanto quanto foi investigado, é inovador. Este dispositivo permite efetuar o condicionamento de sinal, digitalização e comunicação numa estrutura atómica. A ideia vai de encontro ao paradigma dos sensores inteligentes onde um único dispositivo eletrónico, associado a uma célula de carga, executa um conjunto de operações de processamento de sinal e transmissão de dados. Em particular permite a criação de uma rede ad-hoc utilizando o protocolo de comunicação IIC. O sistema é destinado a ser introduzido numa plataforma de carga, desenvolvida na Escola Superior de Tecnologia e Gestão de Bragança, local destinado à sua implementação. Devido à sua estratégia de conceção para a leitura de forças em três eixos, contém quatro células de carga, com duas saídas cada, totalizando oito saídas. O hardware para condicionamento de sinal já existente é analógico, e necessita de uma placa de dimensões consideráveis por cada saída. Do ponto de vista funcional, apresenta vários problemas, nomeadamente o ajuste de ganho e offset ser feito manualmente, tornando-se essencial um circuito com melhor desempenho no que respeita a lidar com um array de sensores deste tipo.

Les instruments actuariels d'évaluation du risque de récidive : applicables aux auteurs d'infractions sexuelles ayant une déficience intellectuelle?

L’intérêt porté à l’évaluation du risque de récidive chez les délinquants ayant une déficience intellectuelle (DI) a notablement augmenté depuis les 10 dernières années. D’ailleurs, certains croient que les instruments utilisés pour mesurer le risque chez les auteurs d’infractions sexuelles neurotypiques peuvent s’appliquer aux auteurs d’infractions sexuelles ayant une DI tandis que d’autres appuient l’idée d’utiliser et de développer des mesures actuarielles propres à ces individus. Trois objectifs ont été posés pour tenter d’éclaircir ces deux visions, soit 1) Comparer les taux de récidive entre les deux groupes d’auteurs d’infractions sexuelles (ayant une DI et neurotypiques), en plus de déterminer lequel récidive plus rapidement sur une courte période de temps, 2) Analyser la validité prédictive de huit instruments actuariels (et de la PCL-R) auprès d’un échantillon d’auteurs d’infractions sexuelles ayant une DI et 3) Analyser la composition des instruments par domaines (Knight et Thornton, 2007). L’échantillon est composé de 550 auteurs d’infractions sexuelles dont 54 ont une DI. Les résultats suggèrent que les deux groupes d’auteurs d’infractions sexuelles (neurotypiques et ayant une DI) présentent des taux de récidive similaires. Un nombre restreint d’instruments semblent par contre efficaces chez les auteurs d’infractions sexuelles ayant une DI. De ce fait, le SVR-20 s’est révélé avoir une validité prédictive pour la récidive sexuelle, le RMC, le RMV et le MnSOST-R pour la récidive violente et le VRAG pour la récidive non violente. Il est toutefois justifié de se questionner sur la manière d’évaluer le risque chez cette clientèle particulière. L’analyse de la composition des instruments semble importante puisque certains domaines pourraient prédire différemment la récidive chez les auteurs d’infractions sexuelles ayant une DI. Une grande partie des facteurs pouvant être utiles dans la prédiction de la récidive ne semblent toujours pas avoir été identifiés, repoussant ainsi la création d’instruments propres aux délinquants ayant une DI.

Public capital, productivity and trade balances:some evidence for the Italian regions

This paper analyses the extent to which intensive investments in public capital may have had an unfavourable impact on the regional trade balances across the 20 Italian regions. Our working hypothesis is that investments in public capital, while stimulating the demand for tradables across the regions, may have a limited positive impact on the supply of tradables in regions characterised by relatively low productivity like the South of Italy (or Mezzogiorno). The empirical results are consistent with our expectations and suggest that programs of investments in public capital should be accompanied by additional policy measures that can remove the structural factors that hamper the total factor productivity growth in specific areas. © Springer-Verlag 2008.

Les instruments actuariels d'évaluation du risque de récidive : applicables aux auteurs d'infractions sexuelles ayant une déficience intellectuelle?

L’intérêt porté à l’évaluation du risque de récidive chez les délinquants ayant une déficience intellectuelle (DI) a notablement augmenté depuis les 10 dernières années. D’ailleurs, certains croient que les instruments utilisés pour mesurer le risque chez les auteurs d’infractions sexuelles neurotypiques peuvent s’appliquer aux auteurs d’infractions sexuelles ayant une DI tandis que d’autres appuient l’idée d’utiliser et de développer des mesures actuarielles propres à ces individus. Trois objectifs ont été posés pour tenter d’éclaircir ces deux visions, soit 1) Comparer les taux de récidive entre les deux groupes d’auteurs d’infractions sexuelles (ayant une DI et neurotypiques), en plus de déterminer lequel récidive plus rapidement sur une courte période de temps, 2) Analyser la validité prédictive de huit instruments actuariels (et de la PCL-R) auprès d’un échantillon d’auteurs d’infractions sexuelles ayant une DI et 3) Analyser la composition des instruments par domaines (Knight et Thornton, 2007). L’échantillon est composé de 550 auteurs d’infractions sexuelles dont 54 ont une DI. Les résultats suggèrent que les deux groupes d’auteurs d’infractions sexuelles (neurotypiques et ayant une DI) présentent des taux de récidive similaires. Un nombre restreint d’instruments semblent par contre efficaces chez les auteurs d’infractions sexuelles ayant une DI. De ce fait, le SVR-20 s’est révélé avoir une validité prédictive pour la récidive sexuelle, le RMC, le RMV et le MnSOST-R pour la récidive violente et le VRAG pour la récidive non violente. Il est toutefois justifié de se questionner sur la manière d’évaluer le risque chez cette clientèle particulière. L’analyse de la composition des instruments semble importante puisque certains domaines pourraient prédire différemment la récidive chez les auteurs d’infractions sexuelles ayant une DI. Une grande partie des facteurs pouvant être utiles dans la prédiction de la récidive ne semblent toujours pas avoir été identifiés, repoussant ainsi la création d’instruments propres aux délinquants ayant une DI.

The Smart Paradox : Stimulate the deployment of Smart grids with effective regulatory instruments

The concept of SG (Smart Grids) encompasses a set of technologies that raise the intelligence of the electrical networks, such as smart meters or instruments of communication, sensing and auto-correction of networks. Nevertheless, the cost is still an important obstacle for the transformation of the current electricity system into a smarter one. Regulation can have an important role in setting up a favorable framework that fosters investments. However, the novelty with SG is the disembodied character of the technology, which may change the incentives of the regulated network companies to invest, affecting the effectiveness of the regulatory instruments (“cost plus” or “price cap”). This paper demonstrates that the solution to this “Smart” paradox requires strong incentive regulation mechanisms able to stimulate the adoption of SG technologies. Moreover, the regulation should not jeopardize conventional investments that are unable to be substituted by SG. Thus, a combination of performance regulation and efficiency obligations may be necessary.

Human-Computer interaction methodologies applied in the evaluation of haptic digital musical instruments

Recent developments in interactive technologies have seen major changes in the manner in which artists, performers, and creative individuals interact with digital music technology; this is due to the increasing variety of interactive technologies that are readily available today. Digital Musical Instruments (DMIs) present musicians with performance challenges that are unique to this form of computer music. One of the most significant deviations from conventional acoustic musical instruments is the level of physical feedback conveyed by the instrument to the user. Currently, new interfaces for musical expression are not designed to be as physically communicative as acoustic instruments. Specifically, DMIs are often void of haptic feedback and therefore lack the ability to impart important performance information to the user. Moreover, there currently is no standardised way to measure the effect of this lack of physical feedback. Best practice would expect that there should be a set of methods to effectively, repeatedly, and quantifiably evaluate the functionality, usability, and user experience of DMIs. Earlier theoretical and technological applications of haptics have tried to address device performance issues associated with the lack of feedback in DMI designs and it has been argued that the level of haptic feedback presented to a user can significantly affect the user’s overall emotive feeling towards a musical device. The outcome of the investigations contained within this thesis are intended to inform new haptic interface.

Comparing children's self-report instruments for health-related quality of life using the International Classification of Functioning, Disability and Health for Children and Youth (ICF-CY)

Children with chronic conditions often experience a long treatment which can be complex and negatively impacts the child's well-being. In planning treatment and interventions for children with chronic conditions, it is important to measure health-related quality of life (HrQoL). HrQoL instruments are considered to be a patient-reported outcome measure (PROM) and should be used in routine practice. Purpose: The aim of this study was to compare the content dimensions of HrQoL instruments for children's self-reports using the framework of ICF-CY. Method: The sample consist of six instruments for health-related quality of life for children 5 to 18 years of age, which was used in the Swedish national quality registries for children and adolescents with chronic conditions. The following instruments were included: CHQ-CF, DCGM-37, EQ-5D-Y, KIDSCREEN-52, Kid-KINDL and PedsQL 4.0. The framework of the ICF-CY was used as the basis for the comparison. Results: There were 290 meaningful concepts identified and linked to 88 categories in the classification ICF-CY with 29 categories of the component body functions, 48 categories of the component activities and participation and 11 categories of the component environmental factors. No concept were linked to the component body structures. The comparison revealed that the items in the HrQoL instruments corresponded primarily with the domains of activities and less with environmental factors. Conclusions: In conclusion, the results confirm that ICF-CY provide a good framework for content comparisons that evaluate similarities and differences to ICF-CY categories. The results of this study revealed the need for greater consensus of content across different HrQoL instruments. To obtain a detailed description of children's HrQoL, DCGM-37 and KIDSCREEN-52 may be appropriate instruments to use that can increase the understanding of young patients' needs.