Ignatius Rothschild and Sons Private Bank

https://www.youtube.com/watch?v=cfve6OGJki8

This week was full of inspiration at the #GPTW4ALL Summit. Our EVP and Chief HR Officer DJ Casto chatted with Fortune's Kristen Bellstrom how the future of work is in innovation and diversity. We also got to congratulate Julia Shen, Synchrony’s Innovator of the Year.

This technology has been developing slowly but surely in recent years, with companies like Tesla making impressive progress. The idea of an autonomous vehicle is certainly amazing because it’s something that we’re used to seeing in the movies, but the future may be closer than you think. Toyota, Huawei, Tesla, General Motors, Ford, Mercedes-Benz these are just some of the big names involved in working on the development and perfection of this technology. They invest million...s of dollars into making it work, but so far their effort has not been super great. We’ve progressed to the point of testing self-driving vehicles on the streets, and had a lot of successful runs. However, some of them didn’t go as planned. For example, an Uber self-driving car caused an accident that resulted in the death of a pedestrian earlier this year in Arizona. The case was the first reported fatal crash involving autonomous vehicles and a pedestrian in the U.S. and caused a strong response from the public. Also, there have been reports of incidents where angry Californians attacked self-driving cars because of their behavior on the road. As this technology progresses and becomes adopted by more drivers, we need to face the fact that a self-driving car may be involved in emergency situations where the computer will have to decide how to act. In some cases, these will be human-sacrifice situations, so the car will have to determine the outcome of that situation by itself. What should it do if human sacrifice is unavoidable? Sure, humans can answer such ethical questions using intuition, but doing so isn’t quite as simple for technology. null

This is the short summary of IAS 21 The Effects of Changes in Foreign Exchange Rates. In today's world, the entities carry out their foreign activities in 2 ways: 1. They have some transactions in foreign currencies, or 2. They Have a foreign operation. An entity can also decide to present its financial statements in some foreign currency other than their own.... The objective of IAS 21 is to prescribe How to include foreign currency transactions and foreign operations in the financial statements of an entity; and How to translate financial statements into a presentation currency. Functional currency is the currency of the primary economic environment in which the entity operates. It is the own entity's currency and all other currencies are "foreign currencies". The primary economic environment is normally the one in which the entity primarily generates and expends the cash, but more factors needed to be considered, such as the currency in which the sales prices are denominated, etc. Presentation currency is the currency in which the financial statements are presented. How to report transactions in FUNCTIONAL CURRENCY Initially, all foreign currency transactions shall be translated to functional currency by applying the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Subsequently, at the end of each reporting period, you should translate: All monetary items in foreign currency using the closing rate; All non-monetary items measured in terms of historical cost using the exchange rate at the date of transaction (historical rate); All non-monetary items measured at fair value using the exchange rate at the date when the fair value was measured. All exchange rate differences shall be recognized in profit or loss with some exceptions. How to translate financial statements into a PRESENTATION CURRENCY When an entity's functional currency is NOT the currency of a hyperinflationary economy, then an entity should translate: All assets and liabilities for each statement of financial position presented (including comparatives) using the closing rate at the date of that statement of financial position. All income and expenses and other comprehensive income items (including comparatives) using the exchange rates at the date of transactions. All resulting exchange differences shall be recognized in other comprehensive income as a separate component of equity.

How will you know when you’ve reached true wealth? Is it when you have your dream home? Once you own an expensive car? Perhaps the signifier is when you’re wealthy enough to have your own private airplane? In Tony’s opinion, these are the wrong things to use when measuring your wealth. The people with mansion-sized homes, with three sports cars sitting in the garage, with a private plane that takes them to and from their vacation home these people may not necessarily have a...ccess to true wealth. None of these are indicators of true wealth; they’re indicators of monetary wealth. True wealth is the ability to live life on your own terms. It’s freedom. Tony explains that money itself isn’t wealth, it’s a vehicle a tool you can use to achieve financial freedom, to go after the dreams you didn’t think were possible, to design your life in a way that makes you feel alive and fulfilled. While Unshakeable is a financial freedom playbook, the process of becoming unshakeable is a mindset that extends far beyond the stock market. Being unshakeable, in your investing strategy and your lifestyle, is about managing your head and your heart in order to design the life you deserve. What’s the point of achieving financial freedom? It’s not the concept of having money that makes us yearn to become financially free; it’s the freedom part. True wealth true financial freedom is being free to focus on the things that matter most to you in life. Unlike the investing world, there aren’t clear cut rules for achieving happiness. Fulfillment will come in different shapes and sizes for different people, but there are common principles we all can follow to help us find emotional and psychological fulfillment. With the tools and strategies from Unshakeable, anyone can become financially rich. The question is: Are you going to be rich and happy, or rich and miserable? Join Richard Bradley, Editor-In-Chief of Wealth Magazine, and Tony Robbins in this episode of the Unshakeable Podcast, and learn about Tony’s approach to happiness, the secrets to true wealth and what we can do to fight against the impulses of our own minds. https://www.tonyrobbins.com/podcasts/what-is-true-wealth/