Historical Accounting And Current Cost Accounting

Question 6 Explain the differences between Historical Cost Accounting and Current Cost Accounting (include advantages and disadvantages). Historical Cost Accounting is the â€Å"financial accounting based on the original cost of an item ignoring inflationary increases† It records an asset based on its actual value without any adjustments for inflation. On a balance sheet the value of assets are the purchase cost of the assets. Whereas, current cost accounting is a form of accounting in which the approach to capital maintenance is based on maintaining the operating capability of the business. The assets are measured according to their shares daily based on replacement cost the last trade of the day. The advantages of historical cost accounting is that it is simple, a more conventional method, reliable and verifiable, information is free from any bias views. It leads to absolute certainty and fits in perfectly with the cash flow statement, as it tells what has been paid exactly or received and giving no doubt in balance sheet amounts. This method also helps businesses estimate the future cost with the help of original values that are recorded in financial statements of past years. The disadvantages is that it doesn’t provide enough information that is relevant to investors. It is interested in cost distribution, not the actual values of the asset. Doesn’t have any adjustments for inflation. The financial statement of the business presents an old interest rate and outdatedShow MoreRelatedThe principle of historical cost is still used in accounting when there is a large measure of agreement that it is inappropriate. Discuss.1226 Words   |  5 PagesSynopsis. Historical Cost Accounting is a traditional valuation method as it reflects only on the past cost of the asset, however in the contemporary business environment companies must remain flexible and transparent. This belief has lead to the creation of several other valuation methods, due to word constraints I have focused primarily on Fair Value Accounting as an alternative to Historical Cost Accounting. Although Fair value accounting is a theoretically superior valuation methodology, thereRead MoreAdvantages and Disadvantages of Hstorical Cost Accounting1241 Words   |  5 PagesHstorical Cost Accounting Advantages and disadvantages of historical cost accounting, alternatives to historical cost accounting 2.1 Introduction Accounting concepts and conventions as used in accountancy are the rules and guidelines by which the accountant lives. The historical cost accounting convention is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. The historical cost accounting is the situationRead MoreHistorical Cost and Fair Value1733 Words   |  7 PagesAbstract This paper is written for the accounting theory course as a course project. This paper discusses the differences between the historical cost accounting approach and the fair value accounting approach. The discussion will focus on the debate on using which accounting approach. We begin by stating the definitions of both concepts and discussing them thoroughly, then we state the main advantages of the two approaches followed by comparison between them. The last section of this paper discussesRead MoreContinuously Contemporary Accounting1692 Words   |  7 PagesIntroduction Over the past years there have been many accounting measurement systems developed to replace or serve as a supplement to historical cost accounting. However it is not possible, at present, to state which system, if any, is likely to replace the historical cost system. Perhaps the most notable system is Continuously Contemporary Accounting (CoCoA), proposed by Australian researcher, Raymond Chambers. Chambers quoted â€Å"†¦that thousands of shareholders had lost millions of dollars on securityRead MoreFair Value vs. Historical Cost Accounting1188 Words   |  5 PagesDifference between historical cost and fair value accounting In order to make the most profitable and rational decisions entity’s stakeholders have to evaluate organisation’s financial statements. Today’s world of rapidly changing prices has made it difficult to estimate what something is actually worth. Thus leading to debates at what price – historical costing price or market value – assets and liabilities should be reported. Therefore, before making any evaluations about reported transactionsRead MoreHistorical Cost vs. Fair Value695 Words   |  3 PagesThe basic purpose of accounting is to provide information that is useful to investors, creditors and others in making rational economic decisions. One accounting issue that has been debated on a lot is the historical cost method versus the fair value measurement. The historical cost method has been the basis of GAAP accounting for the past decade but has slowly been disappearing. Today it is starting to be replaced by the fair value method of accounting . When choosing a valuation method, it seemsRead MoreLimitations of Historical Costing in Times of Inflation1280 Words   |  6 Pages5 Normative theories of accounting 1: The case of accounting for changing prices Learning Objectives http://www.download-it.org/learning-resources.php?promoCode=partnerID=content=storystoryID=19988 Upon completing this chapter readers should: ââ€"† be aware of some particular limitations of historical cost accounting in terms of its ability to cope with various issues associated with changing prices; ââ€"† be aware of a number of alternative methods of accounting that have been developed toRead MoreOriginal Alternative Methods Of Historical Cost Accounting966 Words   |  4 Pagesusually utilize the Historical Cost accounting to report financial statements and reflect the profitability of business. It is more conventional and simple method. Nevertheless, when considered in relation to inflation and price changes, the alternative methods such as Current Purchasing Power Accounting (CPPA), Continuously Contemporary Accounting(CoCoA) and Current Cost Accounting(CCA) would be more appropriate. There is an assumption that ‘ applying those alternative forms of accounting to adjust itemsRead MoreAccounting Theory 41063 Words   |  5 PagesFair value or false accounting 1. How are assets and liabilities measured under IAS 39? Answer: According to IAS 39, Financial Instruments: Recognition and Measurement, financial instrument are to be stated at their ‘fair value’- defined as ‘the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction’. ‘If the market for a financial instrument is not active, an entity establishes a fair valueRead MoreAccounting Research: Advantages of Cash Flow1720 Words   |  7 Pagesdependent on accounting conventions and concepts/principles * Cash flow reporting satisfies the needs of all users better since cash flow is more direct with its messages. Some of the interested user parties are: * Creditors   -repayment of debts, overdue accounts * Management -cash flow reporting provides the type of information which decision should be taken re: relevant costs ( decision based on future cash flow) * Shareholders amp; Auditors -cash flow accounting and reporting

My Definition Of A Story - 806 Words

My definition of a story is a narrative that is told by word of mouth or written down in spoken language, and has a protagonist (the leading character, may be also defined as the character whose fate is most closely followed by the reader or audience, and who is opposed by a character known as the antagonist) trying to accomplish a certain goal but the antagonist (a character, institution, or concept that stands in or represents opposition against which the protagonist(s) must contend) keeps getting in the way of achieving that goal, causing conflicts or a problems in the story. A story can likewise be a recounting or retelling of events in the order they come about or some form of causally-linked set of events whether imaginary or real. A story can similarly be told for entertainment or to inform someone on exactly how to do something. A story must reconstruct images that re-create life-like characters, settings, or events. The first Flash Fiction piece, I choose to analyze is â€Å"Ways to Make Money in Prison† by Angela Palm. Based on my description of what a story is, I believe that this is not a story. I say that is isn’t a story because it doesn’t follow my definition of what a story is. This story has no clear protagonist or antagonist and no type of conflict. One could infer, that the antagonist is that you have no money in prison but you have no evidence to support that. The story also has no causally-linked set of events that happen. I think that the author of thisShow MoreRelatedThe Temple Is An Age Year Old Student At Williams College From Sierra Leone848 Words   |  4 PagesSunday morning â€Å"unless on her death bed† and attended a Jesuit preparatory school. Asked about the presence of a God in her life, she told this story: Throughout my entire life, my Mom has said, â€Å"You’re blessed.† I was born in the middle of a war and there were several times when I could have died, but I didn’t. So that was a big thing for me. My Mom attributes [my life] to God guiding our family and [bringing us] to America. Even not dying the first few months I was in America was a big thing. God hasRead MoreDefinition of Science Fiction Essay1252 Words   |  6 Pagesthat has led to my love for science fiction, the simple fact that it can be so much more than just science fiction. I would like to present a definition of what science fiction is in this paper. My definition will not be exact, because so many people have a different idea of what counts as sci-fi and, not only that, but we may have found yet another venue for science fiction by the time this paper is complete. In order to define what science fiction is and to support my definition, I am going to giveRead MoreFor This Session, I Introduced Figurative Language To Sophia.1382 Words   |  6 Pagesher were similes and metaphors. I taught this lesson in the same format I taught story elements. I would have the definition writing down on the power point of Sophia and would have her write down the term and definitions in her notebook to refer back to later. I also included some examples as a way to teach the term that I also asked her to write down in her notebook. Once she was finished writing down the definitions and examples. We went through some more examples and I asked her to identify ifRead MoreEssay Seconds Away by Harlan Coben1019 Words   |  5 Pagesguys of the school said â€Å"Hey ema mooo!† When he heard that he was about to explode but Ema gave him a look that said don’t. He interacts nicely with the other characters except with the people he doesn’t like and the people that are mean. Mickey was my favorite character in the book. The main idea of this book is that we are all stronger than we realize. It was developed through the book by all of the times that Mickey and his friends were in trouble with really bad people but pulled through itRead MoreMovie Review : Good Verse Evil773 Words   |  4 Pages- Examples and Definition of Antagonist, 2013). Good verse Evil is always a key point to most Marvel or DC comic’s movies of today. Even in real life with rising kids its good parent verse bad parent? My kids don’t want mom calling me saying that they are behaving bad, â€Å"A protagonist is the central character or leading figure in poetry, narrative, novel or any other story. A protagonist is sometimes called a â€Å"hero† by the audience or readers† (Protagonist - Examples and Definition of ProtagonistRead MoreWhat Is an Essay?1440 Words   |  6 Pagesessay is like story-telling, and that the writer attempts to breathe life into the words on a page. â€Å"Breathing life† into the words on a page means that the essay is so personal and so intimate, that the reader feels like the writer is telling him a story personally, face to face. Additionally, other authors such as Susan Orlean, claim that essays are like conversations, and they should have the attitude that any conversation has. Although I acknowledge that essays are like story-telling, and likeRead MoreThe Philosophy Of Servant Leadership1730 Words   |  7 Pagescomponents of the servant leadership philosophy related to the book: The Servant: A Simple Story About the True Essence of Leadership, written by James C. Hunter. First, I will examine the theory of servant leadership including its history, definitions, and major concepts. Next, the function of this leadership style in the field of nursing and nursing roles will be discussed. Finally, how this philosophy can be utilized in my personal nursing practice and how the theory has sparked personal growth in myselfRead MoreThemes of A Good Man Is Hard to Find by Flannery O ´connor Essay862 Words   |  4 Pagesshort story are: the grace of the grandmother and The Misfit, the vague definition of a â€Å"good man†, and the class of the grandmother. All of these themes are apparent to any reader, but it does not quite seem to match O’Connor ’s depth style way of writing. The two characters, the Grandmother and the Misfit change from beginning to end. Even though they are both different as night and day, they both have principles and stand by their principles no matter what the circumstance. In the short story, â€Å"TheRead MoreExamples Of Everyday Tragedy732 Words   |  3 Pagestragedy. In the story Death of a Salesman, Arthur shows that tragedy is not for those who have power, it goes for anyone. People used to think that tragedy would go to those who have great power like a king or queen. If a king or queen were to have an unexpected fate, the people would think of it as a tragedy losing a great leader that had high power. Yes, that is considered tragedy but Miller is saying that this can happen to anybody nowadays. He portrays that in his story by talking about aRead MoreAnalysis Of King Midas And The Golden Touch1042 Words   |  5 Pagespre-assessment I read aloud the words as I was going over the directions for the assessment. My students made comments that they had never seen most of these words before, which makes sense because these words are very specific and are more likely to be seen in social studies content. The five words selected are from the story King Midas and the Golden Touch, which the students will be reading next week, as part of a short st ory unit. The words were â€Å"adorn, cleanse, lifeless, precious and realm.† When grading

Elimination Double Taxation Under Double -Myassignmenthelp.Com

Question: Discuss About The Elimination Double Taxation Under Double? Answer: Introducation The first criteria on the basis of which income tax is charged on an individual or entity is on the residence principle. In order to compute taxable income, it is to be determined whether the individual or entity is a resident of the country or not. In the case of New Zealand., the concept of residence is a significant part of the Goods and Service Tax Act 1985 (Goods and Services Tax Act, 1985). As per the Act the concept of residence is important as on the basis of this it is determined whether an individual is assessable to worldwide income or only on the income which is earned in New Zealand. The residents of New Zealand are assessable for the income which is earned worldwide and non-residents are assessable for the income earned in New Zealand (Wells Lowell, 2013). As per the provisions of the New Zealands Tax laws a person will be a resident of the country if that individual has a permanent place of abode in New Zealand, the person is present personally in the country for more than 183 days in total in any 12 months period or the person is personally absent from New Zealand for the service of the country. As per the provisions, a company will be considered to be a resident of New Zealand, if the company was incorporated in New Zealand or if the company has its head office situated in New Zealand or if the core management of the company operates from New Zealand (Kelsey, 2015). If any of the above mentioned conditions are satisfied the company will be considered as a resident of New Zealand. Residence concept proves to be vital when tax is being calculated for interests in foreign superannuation schemes. The amount which is drawn in lumpsum from superannuation schemes will be taxed for a resident following either the schedule method or the formula method. The residence of the individual is also significant for calculating family tax credits under family scheme. Moreover, under Goods and Service Tax Act of 1985, residence is important term as it is used to determine the place from which the supply of goods and services initiated. Another area where the residence of the individual is relevant is where there is filing requirements under SLSA 2011 for New Zealands Based Borrowers (Blakely et al., 2015). Description of Article 4 of OECD Article 4 of OECD deals with the concept of resident which is a widely used concept in taxation laws. The convention states that a resident is an individual who is liable to pay taxes to the government on the basis of residence, operations of management and other similar criteria on the basis of which tax is charged on an individual. This does not include any person who is liable to pay taxes in a state for the income which is generated from the sources within the state. The main purpose of this article is to clearly define the term resident and also solve the conflicts which arises due to double residence cases (Cracea, International Bureau of Fiscal Documentation Organisation for Economic Co-operation and Development., 2013). The problems usually occurs when one or both of the Contracting States claims that the individual is a resident of their territory. Para 1 of Article 4 of the convention, covers all cases where an individual is deemed to be a resident of the state as per the domestic laws of the state but subjected to the tax limitation to the sources of income in that state or to the capital situated in that state. Para 2 of the Article 4 states the cases where a person is a resident of both the contacting states and the conflict of residence arises. Such conflicts are solved by applying special provisions, where the rules give the right to collect taxes from a resident to one state. Moreover, the article gives preference to a contracting state where the person has a permanent home available to him. The paragraph makes it clear that the state where the individual has a permanent home, will be considered to the resident of that particular state. The article specifically makes it clear that the home must be a permanent one or as intended by the individual to retain the home for a permanent stay basis. Such a case will not be considered if the person is on a temporary stay basis. However if the individual has a permanent house in both the contacting state, the article gives preference to the state where the individual has economic and personal relations or where the vital interests of the individu al lies. In the circumstance, the place of residence cannot be determined then the article requires an alternative criteria where habitual abode is identified first and then nationality is considered. If the individual has nationality of both the states or if the individual does not have nationality of any state, then the residency of the individual is to be determined by mutual agreement between the contracting states. As given in the cases laws, Commissioner of Inland Revenue vs MW Diamond [2015] NZCA 613, the judgement of the court was that Mr Diamond did not have a permanent home in New Zealand even though he had a property in New Zealand which was used as an investment property as Mr Diamond in this case had never intended to dwell in the property (Diamond Case, 2018). The court adopted Australian Test for permanent place of abode and concluded that such means a home in New Zealand. Thus the court concluded Diamond did not have permanent residence in New Zealand and thus the de cision was in favor of Diamond. Thus it can be said that as per the provisions of Article 4, permanent place of abode cannot also be a basis for determining the resident status of an individual. Para 3 of Article 4 is concerned with companies and other bodies of individuals irrespective of the fact that they are legal person or not. It is a rare thing for companies to be liable for taxes as a resident in more than one state, but it is possible. For example, a company which is registered in one state and has management in another state will be subject of conflict as to which state resident is the company. In order to avoid such a conflict special provisions have been included. Whenever there is a case of dual residency of a non-individual then paragraph 3 of Article 4 requires the competent authorities of the contracting states to resolve the conflict by mutual agreement. The competent authorities of both contracting states will consider aspects such as headquarters of the company, where does the non-individuals day to day management is done, where the books of accounts are kept and other such factors. Para 3 also makes it clear that the if the contracting parties are not abl e to resolve the conflict then it will not allow relief or exemption to the non-individual under the convention. In some cases states prefer to apply the rule of effective management of the company for determining the residential status of the company (Padia Maroun, 2012). Analysis of Tie Breaker Test as per OECD Convention and Income Tax Act 2007 As per the provisions of Income Tax Act 2007, the concept of a resident is defined for both individuals and non-individuals like companies, body of individuals (Income Tax Act, 2007). Article 4 of OECD Conventions covers the tie breaker tests which the contracting states must employ in order to get residency of an individual or non-individual in case of Double Taxation Agreements (Genschel Rixen, 2015). The tie breaker tests which the parties should adopt as per the provisions of Income Tax Act 2007 and OECD Conventions are given below: Permanent Home Test: The first test for the checking residency of an individual is to check whether the individual has a permanent home in New Zealand. This tests have three requirements which needs to be fulfilled in order to establish residency status for a state which are a home of individual must be there, it has to be permanent and the home must be available for living. It is clear from the provisions as contained in the OECD Convention the term home is used in the physical sense and any form of home may be taken in account such as flat, rented house, furnished rooms. The home must be kept with the intention of permanent use or stay and not for a stay which is intended for a short duration. Another important aspect is that the home must be available for the use of the individual. On the basis of these factors the test is conducted and judgements are made. If individual has a permanent residence in both the countries then the contracting states will apply the next test. Personal and Economic Relation Test: The next test applied is Personal and Economic Relation Test which shows the individual is closer to which state in terms of economic ties or personal ties (Corkery et al., 2013). The economics ties may be business ties, property, other economic interest whereas the personal ties include family, social relations, the place from which the individual belongs. As per the case of Hertel vs MNR 93 DTC 721 at 723, it was revealed that the number of economic or personal relations which an individual has with a country is not material enough to take a decision but the root or depth of the relation is to be examined which is of more significance (Lang, Rust Owens, 2014). In a circumstance that this test cannot be determined than the contracting states have to move on to the next test. Habitual abode Test: In this test it is determined whether the person habitually or normally lives in the country or not. In case of this it is to be determined whether the individual lives habitually in New Zealand or in other country to determine the residency status of the individual (Ault, 2013). Nationality and Mutual Agreement Test: When the individual has habitual abode in both the countries then the residency status is determined by the nationality test where the nationality of the individual is taken into consideration (Kok, 2016). When the residency status cannot be determined by the tie breaker tests than the convention provides the use of Mutual Agreement between the Contracting State to decide the issue. Double Tax Agreements between New Zealand and Australia In case of a person who is not an individual such as a company or institutions the tie breakers test varies a bit. The first test which is mostly conducted is the effective management test. In this test it is determined whether the effective management of the company is situated in New Zealand or in the other country where the company has management (Gutuza, 2012). Another test which is generally applied is mutual agreement between competent authority in order to decide I which state the residency of the company lies with. These are the tie breaker tests which are provided in the OECD Convention and it is also consistent with the provisions of Income Tax Act 2007 (Avi-Yonah, 2015). New Zealand has established ties with other countries in order to avoid conflicts which relates to residency status of a person who is not an individual. These ties are established by entering into Double taxation agreements with other countries. The double taxation agreements are useful to determine a com panys residency belongs to which country. In this case New Zealand has entered into Double Taxation Agreements with Australia (Collard, 2013). As per the agreements whenever there is a case of Dual Residency of person who are not individuals then the test are conducted as usual. In the test of Effective management, the decision of the residency of the company will be taken on the basis of where the effective management of the company is situated whether it is in New Zealand or Australia (Goosen, 2014). If the effective management test cannot produce the desired results than the mutual agreements between competent authority is to be taken for the determining the residency status of the company. The DTA agreements between New Zealand and Australia follow the provisions as established by Income Tax Act of 2007 and also the provisions of Article 4 of OECD Conventions (Kleist, 2012). Conclusion As per the above discussion it is clear that the residency concept is of utmost importance in tax calculations for an individual or a person other than an individual. However there exists certain loopholes in the taxation laws considering the concept of residence. One of the problems which the tax authority faces while calculating the taxable income of a resident is the accuracy of the calculations. For a resident worldwide income is taken into consideration for tax purposes. Another issue is determining the test of effective management in case of a person who is not a individual. The place of effective management is hard to determine when the company has operations in more than one country and has equal management focus in both the countries. In such a deadlock case the issue is to be sorted by mutual agreements which itself is tricky to establish if there is no Double Taxation agreements between them. If the conflict cannot be solved by mutual agreements than the company will be li able for taxes in both the countries. Reference Ault, H. J. (2013). Some reflections on the OECD and the sources of international tax principles. Avi-Yonah, R. S. (2015).Advanced introduction to international tax law. Edward Elgar Publishing. Blakely, T., Cobiac, L. J., Cleghorn, C. L., Pearson, A. L., van der Deen, F. S., Kvizhinadze, G., ... Wilson, N. (2015). Health, health inequality, and cost impacts of annual increases in tobacco tax: Multistate life table modeling in New Zealand.PLoS medicine,12(7), e1001856. Collard, S. (2013). Workplace pension reform: Lessons from pension reform in Australia and New Zealand.Social Policy and Society,12(1), 123-134. Corkery, J., Forder, J., Svantesson, D., Mercuri, E. (2013). Taxes, the internet and the digital economy.Revenue Law Journal,23(1), 7. Cracea, A., International Bureau of Fiscal Documentation, Organisation for Economic Co-operation and Development. (2013).OECD model tax convention on income and on capital. IBFD. EntitiesIndividuals, P., Individuals, P. (2018).Diamond Case.Taxaccountant.kiwi.nz. Retrieved 19 February 2018, from https://taxaccountant.kiwi.nz/79-cases/138-diamond-case Genschel, P., Rixen, T. (2015). Settling and unsettling the transnational legal order of international taxation.Halliday, TC, Sha ? fer, G. C.(Ed.), Transnationallegalorders, 154-184. Goods and Services Tax Act 1985 No 141 (as at 01 July 2017), Public Act Contents New Zealand Legislation. (2018).Legislation.govt.nz. Retrieved 19 February 2018, from https://www.legislation.govt.nz/act/public/1985/0141/latest/DLM81035.html?src=qs Goosen, C. (2014).International tax planning: the concept of place of effective management(Doctoral dissertation, University of Cape Town). Gutuza, T. (2012). Has recent United Kingdom case law affected the interplay between'place of effective management'and'controlled foreign companies'?: analysis.SA Mercantile Law Journal= SA Tydskrif vir Handelsreg,24(4), 424-437. Income Tax Act 2007 No 97 (as at 20 December 2017), Public Act Contents New Zealand Legislation. (2018).Legislation.govt.nz. Retrieved 19 February 2018, from https://www.legislation.govt.nz/act/public/2007/0097/latest/DLM1512301.html Kelsey, J. (2015).The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books. Kleist, D. (2012).Methods for elimination of double taxation under double tax treatieswith particular reference to the application of double tax treaties in Sweden. Kok, R. (2016). The Principal Purpose Test in Tax Treaties under BEPS 6.Intertax,44(5), 406-412. Lang, M., Rust, A., Owens, J. (Eds.). (2014).Tax Treaty Case Law around the Globe 2013. Linde. Padia, N., Maroun, W. (2012). Determining the residency of companies: difficulties in interpreting' place of effective management'.Journal of Economic and Financial Sciences,5(1), 119-134. Wells, B., Lowell, C. H. (2013). Income Tax Treaty in the 21st Century: Residence vs. Source.Colum. J. Tax L.,5, 1.

Relexes Essay Example

Relexes Essay Relexes BY samuell 23777 Reflexes Sam Viral Effector Knee Jerk Leg Moved Motor Reinforcement of the Knee-Jerk Leg Moved more intensely Ankle-Jerk Reflex Foot Twitched Biceps Jerk Did not detect Triceps Jerk Pupillary Pupils did not change Babinski Toe flexed Uvular Gagged Reaction Time 30cm/5cm/10cm 30cm/20cm/15cm Purpose: I ne purpose 0T tnls Ian Is to snow renexes ana now tne nervous system arcs and nerve impulses work in order to test out a certain reflex. Hypothesis: The reflex testings will show no abnormalities in our nervous system. If we reacted to all the trials then we will not have any abnormalities in our reflexive nervous system. Materials: Lab Partner A rubber hammer (Triangular) A Yard Stick A chart to record your reflexes 2) When the hammer hits the patella the sensory fiber leads into the central nercous system and connects to one or more interneurons. These interneurons communicate with motor neurons and then leads outward to the effectors. 3) Muscular tension dumbs out the signal responses for reflexes due to the amount of concentration and nergy concentrated onto the clenched part of the body. When clenching your fists during a fight or athletic contest your reflexes are not as effective because most of the energy is used to clench your fists. 4) The involuntary Jerks in the muscles after the reflex tests are similar in every trial 5) It is hard to catch the card because the reflexes and the impulses do not act quickly enough for us to catch the card within a short time span. The synapse uses chemicals to transfer impulses which slow down he reflex even more. We will write a custom essay sample on Relexes specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Relexes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Relexes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Results: We obtain misleading results due to the gaps in our lab on how we did not respond toa certain reflex trial. Problems: We ran into a couple of errors while doing the experiment. Two of our reflex trials had shown that we did not react to it. The problem was that we might have not done the lab correctly thus creating a gap in our chart. Conclusion: Despite the problems we came onto during our lab due to inability to do the lab correctly, the lab proved our hypothesis n having no abnormalities in our reflexes. IVe learned how to test out persons reflexes and to check if their nervous system is working properly. I can apply this in my life if someone ever gets injured in the spine however small it is, I can test if the nervous system is still working or not. In order for this to be a better experiment my partner and I must redo the trials and make sure we have done each trial properly and correctly according to the directions and guidelines.