Of Mice and Men Research Paper - Free Essay Example

Sample details Pages: 6 Words: 1672 Downloads: 1 Date added: 2019/06/24 Category Literature Essay Level High school Tags: Of Mice And Men Essay Did you like this example? There is only one event in the 20th century that occurred in the United States that has a major influence on our world today: The Great Depression. This, along with the simultaneous Dust Bowl phenomenon, had both a catastrophic impact on life at the time, and the economic policies of the U.S. today. Countless people in cities and towns went homeless or without jobs, and farmers impacted by both disasters moved to places like California for a better life. There is still countless people who can tell you about the times, and the horrible conditions of life then. The Great Depression was no coincidence or event of fate and nature. Princeton economist Paul Krugman blamed it on -a collapse of effective demand (Jacobson Schwartz and Milton). Effective demand is when people move to one good or service from another because the other is unaffordable or out of reach (Colander 379), so the crash that sparked the 1930s depression was the lack thereof. In the 1930s people would blame it wholly on stock market speculation, reckless banking practices, and a concentration of wealth in too few hands (Powell 48). These came into play, but again, the underlying ineffective demand was to blame. The 1930rs had the highest sustained unemployment in U.S. history, with at least 14% of the population jobless in the decade, along with most of those employed still being impoverished (Powell 48). The Great Depression was not properly addressed until the Banking Laws of 1935, the Glass-Steagall Act, and the overarching New Deal, which all existed so the government cou ld aid in returning the market to normal (Powell 48-09). Despite these attempts to correct the market, the depression endured from 1929 to 1937, worst in 1933. Not just people in urban areas were affected though, as farmers were hit hard by the chain of demand. When buyers of produce spent what money they had on farm goods, farmers still couldnt afford anything with that same money and went totally broke. When these times were the toughest, -some farm families were forced to eat their seed corn(Morton 52). This is how desperate, and knowingly desperate farmers were, that they would eat their only source of the next yearrs harvest for sustenance. Don’t waste time! Our writers will create an original "Of Mice and Men Research Paper" essay for you Create order Countless farmers migrated to cities for some sort of work, partially also driven by the Dust Bowl (UC Davis 1). Another group heavily impacted by the Great Depression was minorities and women. First of all, women were highly disadvantaged at the time, with scarce opportunities to work. With many men cut off from work, there was almost no income in many households, and single women were even worse off (Marx 1). Minorities, especially African Americans, were the most hurt overall, by a racist environment all over the south and worsened poverty. For example, the New Deal contained no anti-lynching legislation (Marx 1), and public lynching/beating was prevalent and somewhat common at the time. Government employment programs were even made discriminatory, as their local supervisors would reduce the pay of minority workers to increase the pay of white workers. Eventually, this got to the high office, but the changes enacted didnt do much for the workers, as they still lived in discriminat ion (Marx 1). The Dust Bowl was a climatic event that occurred during the 1930rs. There is no stated year where it was at itrs worst, but it generally took worst effect in growing seasons with ?anomalous drought and heat (Donat et al. 415). As noted in an Climate Dynamics article, The climate over much of the US during the 1930s was characterized by exceptionally hot and dry conditions (Peterson et al. 2013), often referred to as the ?Dust Bowl(Donat et al. 413). The Dust Bowl is called such because it was characterized by frequent and severe dust storms during the decade. These storms were spawned by the droughts sweeping the nation, especially the southern Great Plains, which were in turn caused by the record high temperatures (Cook et al. 1). According to the Columbia University Earth Institute, There had never been dust storms like these in prior droughts. In the worst years of the 1930s on as many as a quarter of the days, dust reduced visibility to less than a mile. More soil was lost by win d erosion than the Mississippi carried to the sea(Cook et al. 1). Hence, the name is derived from the dust blowing on the prairies which was the ruin of any farmland, comprised of the land itself. Naturally, those most affected from the devastation of farmland are going to be the resident farmers. Many farmers were completely out of work, as the earth they had been planting on was blown away by high winds, dried by the arid conditions. Countless farmers had the choice between moving away or starving, with little to no money left from the annual yield (Worster 29). The landscape, in the words of Donald Worster, was as follows: The fences, piled high with tumbleweeds and drifted over with dirt, looked like giant backbones of ancient reptiles (Worster 29). This is an illustration of the dirt piles, but even more devastating is the description of the farmlands- -the underlying hardpan was laid bare, as sterile and unyielding as a city pavement (Worster 29). Clearly, the formal fertile l and was unusable and the soil was elsewhere, so farmers were left with no place for what crops they had to sow. Any topsoil gave way to hard undersoil, which could not grow anything. These farmers still had to make a living, though. So they traveled, mostly to the west, as migrant workers (UC Davis 1). These migrant workers were farmers and assorted people from the midwest who traveled the country looking for any kind of work. They emerged because of economic decline of the Great Depression and/or because their farms had been blown dry in the Dust Bowl. There numbers were large but spread out in the plains, but nearing California, their numbers were startlingly high and concentrated, some even creating immigrant camps outside cities (UC Davis 1). In fact, a study by Anne Loftis states that In Fall 1931, migrants were arriving in the state at the rate of 1,200 to 1,500 a day, an annual rate of almost 500,000 (UC Davis 1). This huge number meant municipalities would try to make laws and regulations lowering the number of migrants allowed to enter. Life for a typical migrant worker was going from farm to farm, planting, irrigating, and harvesting, often never stayin g at a single farm for long. Many lived in semi-legal camps in California, where they were harassed by officers to get them to leave. States like California, where many moved in, were not welcoming to the influx, and so they passed laws and labor acts that would prevent the migrants from entering at all. Work was hard, industrial labor on farms and sometimes at factories (UC Davis 1). Again referring to the barring acts of municipalities, migrants were mistreated in various ways. One of these ways was outlined in the Vagrancy Laws of 1933 and 1937, under which many migrants were arrested and sometimes lent to farmers to work off their fines (UC Davis 1). This practice is similar to debtors prison which was banned centuries earlier in England. This is also somewhat akin to temporary slavery, as migrants would often have no choice in the matter of their work and no ability to legally leave or disobey the employer. Migrants very rarely gained much wealth and many stayed dirt poor all t hrough the 30s (UC Davis 1). Migrants, as mentioned, often traveled to California for work specifically the Salinas Valley. The Salinas Valley is home to the capital of the state, Sacramento. However, it wasnt the big city most of the travelers were looking for, but farm labor. There is no shortage of farmland in that valley. The Salinas Valley is a long valley surrounded by the Sierra de Salinas, Gabilan, and Diablo mountain ranges. The valley has a wide watershed, and the floor is fertile from that distribution (Saavedra). There are underground deposits of water, such as the Pressure 180-foot and 400-foot, increasing the flow of water into the valleyrs irrigation and drinking water. Mountainous silt makes up the topsoil next to the Salinas River itself, adding to the fertility of the land and ability to mass farm (Saavedra). Primarily, the Salinas Valley has an output of crops like corn, wheat, and all sorts of ground level leaves (cabbage, lettuce, etc.). The valleyrs large output brings in billions per year , contributing to Californiars country-like economy. Not the river, but rather groundwater from the greater watershed, is what supplies the watering needs of Salinas crops. In fact, 95% of irrigation is just from underground deposit sources, and that same percentage goes for local uses and greater industry in urban areas (Saavedra). The great benefit of such land is the fertility of soil and overall availability of water. The two large drawbacks are the surrounding mountains, which can slow travel time and trade, and the possibility of over-farming and contaminating water. Over-farming can make contaminated water in two ways. Taking too much from underground reserves before it can be replenished leaves natural toxins in higher concentration, so if a certain location was extracted the toxins would come with it in high density. The other way is that reduced aquifer pressure allows seawater to flood into reserves and ruin them for further use in any way (Saavedra). In a data paper by M anuel Saavedra, The high chloride levels have rendered the seawater intruded ground waters too salty for municipal and agricultural use(Saavedra 1). This, however, is only for the coastline valley, so inland places where migrants traveled were safe from seawater intrusion. The four topics covered clearly share a chronological connection and timeline. The Great Depression and Dust Bowl occured at the same time, each worsening the effect of the other to some degree. The people displaced in the Dust Bowl became traveling, dirt-poor migrant workers, and many of them moved to the Salinas Valley in California for prospect. These all come together to influence our current day ideas about climate, natural phenomena, banking powers, and immigration.

Biography of Childe Hassam, American Painter

Childe Hassam (1859-1935) was an American painter who played a crucial role in popularizing impressionism in the United States. He formed a breakaway group of artists devoted to the style known as The Ten. By the end of his life, he was one of the worlds most commercially successful artists. Fast Facts: Childe Hassam Full Name: Frederick Childe HassamKnown For: PainterStyle: American ImpressionismBorn: October 17, 1859 in Boston, MassachusettsDied: August 27, 1935 in East Hampton, New YorkSpouse: Kathleen Maude DoaneEducation: Academie JulianSelected Works: Rainy Day, Columbus Avenue, Boston (1885), Poppies, Isles of Shoals (1891), Allies Day, May 1917 (1917)Notable Quote: Art, to me, is the interpretation of the impression which nature makes upon the eye and brain. Early Life and Education Born into a New England family that traced its ancestry to 17th-century English settlers, Childe Hassam explored art from an early age. He grew up in Boston and was often amused that the surname Hassam made many think that he had an Arabian heritage. It began as Horsham back in England and went through several spelling changes before the family settled on Hassam. The Hassam family suffered the failure of their cutlery business in 1872 after a catastrophic fire swept through the Boston business district. Childe went to work to help support his family. He lasted only three weeks working in the accounting department of the publisher Little, Brown, and Company. Working in a wood engraving shop was a better fit. By 1881, Childe Hassam had his own studio where he worked as both a draftsman and a freelance illustrator. Hassams work appeared in magazines like Harpers Weekly, and The Century. Hed begun to paint, too, and his preferred medium was watercolor. Corbis Historical / Getty Images First Paintings In 1882, Childe Hassam had his first solo exhibition. It consisted of approximately 50 watercolors displayed in a Boston art gallery. The primary subject matter was landscapes of places Hassam visited. Among those locations was the island of Nantucket. Hassam met poet Celia Thaxter in 1884. Her father owned the Appledore House hotel on the Isles of Shoals in Maine. She lived there, and it was a destination favored by many key figures in the cultural life of late-19th century New England. Writers Ralph Waldo Emerson, Nathaniel Hawthorne, and Henry Wadsworth Longfellow all visited the hotel. Hassam taught Celia Thaxter to paint, and he included the hotels gardens and the islands shores as subject matter in many of his paintings. After marrying Kathleen Maude Doane in February 1884, Hassam moved into a South End, Boston, apartment with her, and his painting began to focus on city scenes. Rainy Day, Columbus Avenue, Boston was one of the most prominent works created shortly after the wedding. Rainy Day, Columbus Avenue, Boston (1885). VCG Wilson / Getty Images While there is no indication that Hassam saw Gustave Caillebottes Paris Street, Rainy Day before painting his piece, the two works are almost uncannily similar. One difference is that the Boston painting is devoid of any of the political symbolism many observers found in Caillebottes masterpiece. Rainy Day, Columbus Avenue, Boston quickly became one of Hassams favorite paintings, and he sent it to be shown a the 1886 Society of American Artists exhibition in New York. Embrace of Impressionism In 1886, Hassam and his wife left Boston for Paris, France. They stayed there for three years while he studied art at the Academie Julian. While in Paris, he painted extensively. The city and gardens were the primary subject matter. Shipment of the completed paintings back to Boston to sell helped finance the couples Parisian lifestyle. While in Paris, Hassam viewed French impressionist paintings in exhibitions and museums. However, he did not meet any of the artists. The exposure prompted a shift in the colors and brushstrokes Hassam used. His style became lighter with softer colors. Friends and associates back home in Boston noticed the changes and approved of the developments. Hassam returned to the United States in 1889 and decided to move to New York City. With Kathleen, he moved into a studio apartment at 17th Street and Fifth Avenue. He created city scenes in all kinds of weather, from winter to the height of summer. Despite the evolution of European impressionism into post-impressionism and fauvism, Hassam firmly stuck to his newly-adopted impressionist techniques. Fellow American impressionist painters J.Alden Weir and John Henry Twachtman soon became friends and colleagues. Through Theodore Robinson, the trio developed a friendship with French impressionist Claude Monet. Poppies, Isles of Shoals (1891). Wikimedia Commons / Public Domain In the mid-1890s, Childe Hassam began traveling during the summer to paint landscapes in Gloucester, Massachusetts, Old Lyme, Connecticut, and other locations. After a trip to Havana, Cuba, in 1896, Hassam held his first one-person auction show in New York at the American Art Galleries and featured over 200 paintings from throughout his career. Unfortunately, the paintings sold for less than $50 on average per picture. Frustrated by the impact of the 1896 economic slump in the U.S., Hassam returned to Europe. After traveling to England, France, and Italy, Hassam returned to New York in 1897. There, he helped fellow impressionists secede from the Society of American Artists and form their own group called The Ten. Despite disapproval from the traditional art community, The Ten soon found success with the public. They functioned as a successful exhibition group for the next 20 years. Later Career By the end of the first decade of a new century, Childe Hassam was one of the most commercially successful artists in the United States. He earned as much as $6,000 per painting, and he was a spectacularly prolific artist. By the end of his career, he produced over 3,000 works. Childe and Kathleen Hassam returned to Europe in 1910. They found the city even more vibrant than before. More paintings emerged depicting bustling Parisian life and Bastille Day celebrations. Upon returning to New York, Hassam began creating what he called window paintings. They were one of his most popular series and usually featured a female model in a kimono near a lightly-curtained or open window. Many of the window pieces were sold to museums. By the time Hassam participated in 1913s Armory Show in New York City, his impressionist style was mainstream art. The cutting edge was far beyond impressionism with cubist experiments and the first rumblings of expressionist art. End of the Trolley Line, Oak Park, Illinois (1893). Buyenlarge / Getty Images Flag Series Perhaps the most popular and well-known series of paintings by Childe Hassam was created very late in his career. Inspired by a parade supporting preparations for U.S. participation in World War I, Hassam painted a scene with patriotic flags as the most prominent element. Soon, he had an extensive collection of flag paintings. Allies Day, May 1917 (1917). VCG Wilson / Getty Images Hassam hoped that the entire flag series would ultimately be sold for $100,000 as a war memorial set, but most of the works were eventually sold individually. Flag paintings found their way into the White House, the Metropolitan Museum of Art, and the National Gallery of Art. In 1919, Hassam settled in Long Island. It is the subject of many of his final paintings. A boom in art prices in the 1920s made Hassam a wealthy man. Until the end of his life, he fiercely defended impressionism against critics who saw the style as old-fashioned. Childe Hassam died in 1935 at age 75. Legacy Childe Hassam was a pioneer in popularizing impressionism in the United States. He also broke ground demonstrating how to turn art into a massively profitable commercial product. His style and approach to the business of art were distinctly American. Despite the pioneering spirit of his early career, Childe Hassam frequently spoke out against modern developments late in life. He saw impressionism as the pinnacle of artistic development and movements such as cubism were distractions. Winter in Union Square (1890). Buyenlarge / Getty Images Sources Hiesinger, Ulrich W. Childe Hassam: American Impressionist. Prestel Pub, 1999.Weinberg, H. Barbara. Childe Hassam, American Impressionist. Metropolitan Museum of Art, 2004.

What Is Education For You - 931 Words

What is Education to you? Education means something different to everyone. For one, it might just mean going to school and learning and passing the tests with good grades. For someone else it might mean doing something that their parents might not have done. Or for someone else it might just mean that this is my chance to do something different and for the better of the people in the society. One thing about education it does not earn the same respect from everyone. For example, here in the US, people get educated so they are not left behind, that everyone has an equal opportunity to succeed. But, in the past Kenya, not everyone has the same opportunity; male are treated differently than females. Only males should receive education because they will deal with the economy in the future and females shouldn’t because they just going to be mothers when they grow up and just take care of the house. Education is essential for everyone, it is the level of education that helps peop le earn respect and recognition in society, both personally and socially. Education influences the lives of everyone in positive ways and teaches us to tackle problems in life. Hence the reason, the society and the governance is spending much of their time and money to ensure that everyone has a proper education. But even with this awareness, many areas of the world are still unable to receive the proper education, which leaves them behind and turn to the only option available, crime. 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It’s like all they care about is being beautiful, instead of trying to learn. They were too concerned about learning how to be prettier, and not at all concerned about education. I mean, as they get older, they re going to

How Asatru Is A Religion That Has Close Ties With Norse...

Asatru is a religion that has close ties with Norse mythology. The name of the religion, Asatru, is a twofold word that gets it’s meaning from Old Norse. The first half of the word, Asa, means Gods and Goddesses and the second half Tru, means to have faith or belief in. Altogether Asatru means to have faith in the gods. Asatru can be considered part of the Neo-pagan family of religion since it has to do with Norse Heathenism. The beginning of Asatru was not the start of the religion itself yet a revival of an older religion. Before Asatru there was the Nordic religion. This religion was practiced before Christianity came around. The Nordic religion is thousands of years old and its beginnings are lost in prehistory. Yet, it is associated with the age of Vikings. Ancient Asatru and Modern Asatru is a folk or tribal religion. In the 20th century an Icelandic sheep farmer named Sveinbjà ¶rn Beinteinsson created an Asatru organization. The proper term for it is, à slenska à satrà ºarfà ©lagià ° which translates to Icelandic fellowship of Aesir faith. Beinteinsson even petitioned for Asatru to be a recognized religion in the early 1970s. After about a year of petitioning, Asatru became a known religion in Iceland. Coincidentally, around the same time the organization was created in Iceland, there were communities forming in the United States and in the United Kingdom. However, these three communities didn’t know of each other. According to www.religionfacts.com, â€Å"This is a sign that

Impact of Digital Tools and Message

Question: Discuss about the Impact of Digital Tools and Message. Answer: Introduction: The phrase The Medium is the Message quoted by Professor Marshall McLuhan speaks about the strength of a medium to influence the thoughts and views of a mass. McLuhan is known for quoting such things about a particular fact in a way that he had been considered as predicting the future. Sometimes, his works had been viewed as some kind of theory extract with is far from the practical lives of people. But, the widespread impact of his different quotes and criticisms on various topics made him a popular critic. Talking about the medium, we can see that the medium could be any medium like the Electronic Medium or Print Medium. It is the skill of a particular medium which defines its strength to move our thoughts. These skills could be categorized as 7 Cs and 4 Ss as described by MANAGE.(Management, n.d.). Out of various types of available print media, newspaper is the most influential one. It consist of various things like the political stories, various articles on important issues, accidents and cases in the country, sports activities etc. Thus, newspaper can be considered as a volatile source of information. Not only the present generation, but its reliability can be seen from every generation. Electronic media on the other hand lost it power to some extent. However, television has still got its rule. Internet sources, most particularly social networking sites, are most widely acceptable. The internet media influences our thoughts and views in the most impactful manner. One of the researches on human behavior says that digital tools have also impacted the way of education to a great extent.(Purcell, et al., 2013). It influences our way of thinking. For e.g., when we read about Donald J Trumps presidency, and read negative things about the person, our brain automatically creates an image of the personality we read about. People start relying on what they are made to read and hear and start believing things and consider that their own perspective. One more influential medium are the people themselves. Mouth publicity creates an important impact. One of the most relatable examples for this is the publicity of movies. This culture has been well explained by Adrienne L. McLean in his article Media Effects-Marshall McLuhan, Television Culture and The X-files(McLean, 1998). The creators advertise their movies in such a way that we automatically form a good picture of a movie in our mind and that depends on the influencing capacity of the medium with which it is being publicized. That good picture of the movie attracts a greater percentage of people and does it business. The post theatre opinion impacts the business to a very little extent. Every medium has its own good and bad influences. Talking about the internet, when more than normal amount of time is spent in front of computers, a number of health issues may arise. Obesity, poor vocabulary, poor social skills and addiction for electronic gadgets etc. are a major concern for the youth. The reason is over reliance to online media. Every day or the other we read news about phone blasts due to overcharging or eye and ear impairment problems. These problems will keep on increasing because of over reliance on online media. On one hand, people find online media as an easy and convenient way to connect and communicate with their near and dear ones. On the other hand, it is eating up the caliber and youth of the young generation which stimulates them to indulge in useless issues and carries away the concentration and zeal for career. Canadian youth claim the Internet as a defining part of their culture and an integral part of their daily lives.(Health, 2003). Thus, the inf ormation is a kind of wealth which is being copied by varied resources. Whether good or bad, it is impacting our lives to the greatest extent. One more examples that can be quoted about the power of medium is the ever rising involvement of people in social causes. A soul shaking incident which happened in India in 16th Dec, 2012 named by the countrymen as Nirbhaya Case is a good example. The case depicted how influential is the power of media. It took women security and safety to another level. The involvement of mass for the cause and the final judgments in favor of the victim followed by a revival in the law about women safety showed one of the strongest impacts of media power. The enthusiasm built by the media both electronic and print and reaction showed by people created an epic moment for the nation.(Sharma, 2016) Concluding the topic here, the power of any medium has been witnessed by us many times in our lives. For some people it created a great honor in their lives particularly for the celebrities. How anyone would have known Julia Roberts or Tom Cruise without they being popularized by various mediums. Thus, medium does affects everybodys life in some sense or the other. Important is to understand the positive aspects and ignore the negativity. The author in his writings also tried to defend the medium and bring the positive aspects to the people. The criticism about the wrongdoers is also worth noticing because one rotten mango spoils the whole baggage. However, we cannot ignore the importance. (McLuhan, 1964) Bibliography Health, P. C., 2003. Impact of media use on children and youth. [Online] Available at: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2792691/ [Accessed 26 January 2017]. Management, N. I. o. A. E., n.d. Writing for Print Media, Hyderabad : National Institute of Agricultural Extension Management (MANAGE) . McLean, A. L., 1998. Media Effects: Marshall McLuhan, Television Culture, and "The X-Files". [Online] Available at: https://www.ravenndragon.net/montgomery/mcluhanxfiles.pdf [Accessed 26 January 2017]. McLuhan, M., 1964. Understanding Media: The Extension of Man by Marshall McLuhan. [Online] Available at: https://web.mit.edu/allanmc/www/mcluhan.mediummessage.pdf [Accessed 27 January 2017]. Purcell, K., Buchanan, J. Friedrich, L., 2013. The Impact of Digital Tools on student writing and how writing is taught in schools. [Online] Available at: https://www.pewinternet.org/files/old-media/Files/Reports/2013/PIP_NWP%20Writing%20and%20Tech.pdf [Accessed 27 January 2017]. Sharma, M., 2016. 16/12 Nirbhaya Rape Case: An Incidence Which Shaken Up Whole Delhi Full Story. The Indian Tribune, 16 December.

A Synopsis of Accounting for Business Combinations free essay sample

As a result, users of financial statements could not compare the financial results of entities where different combination methods had been used; users of financial statements indicated a need for better information regarding intangible assets; and company management felt that differences in combination accounting methods impacted competition in markets for mergers and acquisitions. SFAS 141 is based on the proposition that all business combinations are essentially acquisitions, and thus all business combinations should be accounted for in a consistent manner with other asset acquisitions. FAS 141 begins with the declaration that the â€Å"accounting for a business combination follows the concepts normally applicable to the initial recognition and measurement of assets acquired, liabilities assumed or incurred†¦as well as to the subsequent accounting for those items. † A â€Å"business combination occurs when an entity acquires net assets that constitute a business or acquires equity interest of one or more other entities and obtains control over that entity or entities. We will write a custom essay sample on A Synopsis of Accounting for Business Combinations or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † In a combination effected through an exchange of cash or other assets it is easy to identify the acquiring entity and the acquired entity. In a combination effected through an exchange of equity interests, the entity issuing the equity interest is generally the acquiring entity. However, in some business combinations, known as reverse acquisitions, it is the acquired entity that issues the equity interests. (Paragraphs 15-19 offer guidance in this complex area. ) Generally, in exchange transactions, the fair values of the assets acquired and the consideration surrendered are considered to be equal, and no gain or loss is recognized. The total cost of the exchange transaction is then allocated to the individual assets acquired and liabilities assumed based on their relative fair values. â€Å"Fair value† is defined as â€Å"the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale. † The excess of the cost of the acquired assets over the fair value amounts assigned to the tangible assets, the financial assets and identifiable intangible assets is evidence of an unidentified intangible asset or assets, or goodwill. In determining the cost allocation, the Statement offers guidance for many items, including: ? Receivables at present values, less allowances for uncollectibility and collection costs ? Finished goods inventory and merchandise at estimated selling prices less costs of disposal and reasonable profit allowance ? Work in process inventory at estimated selling prices of finished goods less cost to complete, cost of disposal and reasonable profit ? Raw materials inventory at current replacement costs ? Intangible assets that meet certain criteria are valued at estimated fair value ? Liabilities and accruals at present value of amounts to be paid ? Other liabilities and commitments – such as unfavorable leases, contracts ad commitments – at present values of amounts to be paid. â€Å"An acquiring entity shall not recognize the goodwill previously recorded by an acquired entity, nor shall it recognize the deferred income taxes recorded by an acquired entity before its acquisition. A deferred tax liability or asset shall be recognized for differences between the assigned values and the tax bases of the recognized assets acquired and liabilities ssumed in accordance with FASB 109. † SFAS 141 also changes how intangible assets are recognized. APB Opinion 16 required separate recognition of intangible assets that could be identified and named. SFAS 141 requires that acquired intangible assets apart from goodwill be recognized if: 1. the intangible arises from contractual or other legal rights, such as patents and trademarks OR 2. the intangible ca n be separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged individually, or in combinati