Effects of Changes to International Accounting Standards

Effects of Changes to International Accounting Standards CONTENTS PAGE (Jump to) (1)(a) REQUIRED CHANGES UNDER INTERNATIONAL  ACCOUNTING STANDARDS (1)(b) MERITS AND DEMERITS OF EXTINCTION OF  EXTRAORDINARY ITEMS (1)(c) RECOGNISED GAINS AND LOSSES AND HISTORICAL  COSTS (1)(d) CLASSIFICATION OF PREFERENCE SHARES  AND DIVIDENDS (2)(a) OBJECTIVES OF IAS 7 AND DISTINCTION  BETWEEN IAS 7 FRS (2)(b) PREPARATION OF A CASH FLOW STATEMENT UNDER  A DIRECT METHOD UNDER IAS7 FRS (2)(c) ASSESSMENT OF THE COMPANY’S LIQUIDITY IN  ACCORDANCE WITH THE INFORMATION ON THE CASH FLOW BIBLIOGRAPHY This report relates to the recent changes in the International Accounting Standards. Furthermore, it underlines the primary principles that Sky Corporation must comply with. (1)(a) REQUIRED CHANGES UNDER INTERNATIONAL ACCOUNTING STANDARDS After the introduction of the International Accountant Standards, all public limited companies must comply with these provisions. Sky Corporation must adhere to the IAS 1, effective on all financial statements dating on and from 1st January 2005. In effect the Sky plc will have to prepare its financial statements on a going concern basis unless there is an intension to liquidate the entity, accrual basis of accounting must be used in the preparation of financial statements except for cash flow statements, presentation and classification of items must be obtained from one period to the next, material class of similar items must be presented separately and dissimilar items must be included separately unless they are immaterial, items (individually or collectively) that are likely to influence the economic decision of the user must not be omitted or misstated, assets, liabilities, income and expenses must not be offset unless approved by an IFRS, financial statements must be presented a t least annually, all amounts relating to comparative information must be disclosed in financial statements. Furthermore, Sky must adhere to the disclosure requirements on the face of or in the notes to the balance sheet BS, income statement and statement of changes in equity. Current and non-current assets and liabilities must be present as separate classification on the face of the BS. Additionally, financial statements must include specified disclosure in relation to information, judgements, estimations, uncertainties and accounting policies. At present, Sky’s accountant made a statement indicating that the financial statements in the forthcoming November 2005 accounts will comply with the principles of IAS. In addition, the company’s financial statements included audited reconciliation of the 2005 Income Statement, Balance Sheet and Cash Flow to UK GAAP from IFRS detailing the impact of the Company’s new accounting policies, and unaudited quarterly 2005 Income Statements to provide comparatives for 2006. (1)(b) MERITS AND DEMERITS OF EXTINCTION OF EXTRAORDINARY ITEMS ISA 1 regarding the presentation of financial statements was issued in December 2003 and is applicable for annual periods beginning on or after 1 January 2005. International Accounting Standard (IAS 1) prescribes the grounds for presentation of general-purpose financial statements, to ensure comparability both with entity’s financial statements of previous periods and with financial statements of other entities. ISA 1 does not serve any application to interim financial statements prepared in accordance with the ISA 34. Under the SSAP 6 extraordinary items are material items which are transaction that fall outside the ordinary activities of the company and thus not expected to recur frequently or regularly. By excluding extraordinary items from the PL, this will reflect on the EPS. Exclusion of extraordinary items will benefit the current operating performance. As far as Sky Communications Plc is, concern there appears to be no extraordinary items in their PL account. Additionally, EPS will be greater than expected if extraordinary items were included since the EPS is used by investors to calculate PE ratio. The exclusion of extraordinary items could also lead to an increase in corporation tax. (1)(c) RECOGNISED GAINS AND LOSSES AND HISTORICAL COSTS Under the FRED 22 (revision of FRS3)which aim to reflect the international shift, makes provisions for reporting comprehensive income such as reporting all recognised gains and losses in a sole statement instead of splitting these gains and losses between the performance statement and the STRGL. There is a need for the display of recognised gains and losses as they are part of the company’s operating activities and some are financial in nature. There is a list of recognised gains and losses that should appear in the treasury section of the performance statement. According to Sky’s accounts for 2004 and 2005, there were no recognised gains or losses in either year other than those included within the profit and loss account. Primarily, statement of total recognised gains and losses are financial statements that enable users to consider all recognised gains and losses of a reporting company in assessing the company’s overall performance. Notes of historical costs are necessary as it identifies the resources acquired by the company at their original price. In effect, this identifies how the items are actually measured over a period. Additionally, it assists with the understanding of capital maintenance adjustments. Firstly, assets are recorded at the value of the consideration given to acquire them at the time of acquisition. Liabilities are recorded at the amount of proceeds received in exchange for the obligation. The purpose for this is to measure the process of determining the monetary amounts in which the element of the financial statements are to be recognised and carried in the balance sheet and in the income statement. (1)(d) CLASSIFICATION OF PREFERENCE SHARES AND DIVIDENDS According to the IAS 1 preference shares are reclassified to borrowings and the preference dividends are reclassified to finance costs. However, when preference shares are non-redeemable, the appropriate classification is determined by the rights attached to the preference shares. Classification is dependent upon an assessment of the substance of the contractual arrangements, equity instrument and the definition of financial liability. Furthermore, the classification of preference shares as an equity instrument or a financial liability is unaffected by a history of making distributions and an intention to make distribution in the future. Under IAS 10, a company must not recognise a liability for dividends in respect of dividends declared after the balance sheet date as it is not a current liability at the balance sheets date under IAS 37. In the event that a company purchases its preference shares for cancellation for more than their carrying amount (premium) then this should be treated as preferred dividend in the calculation of EPS. (2)(a) OBJECTIVES OF IAS 7 AND DISTINCTION BETWEEN IAS 7 FRS1 The structure of the IAS 7 had an influence on the revision of FRS 1. The objective of IAS 7 is that a cash flow statement of a company must correspond to the requirements and identifications under IAS1. In addition, the cash flow must identify movement in cash and cash equivalents during the financial period (cash equivalents are short term and highly liquid investments). Furthermore, there must be a provision identifying and classifying the changes in cash and cash equivalents to operating, investing and financing activities. In a number of cases, there are conflicting factors between the framework of the Financial Reporting Standards and the International Accounting Standards. In the event of conflict, the framework of the International Accounting Standards prevails over the Financial Reporting Standards. IAS 7 requires companies to present cash flow statements as part of a company’s financial statement. International Accounting Standards (IAS 7) is a mechanism that provide additional information on the company’s business activities, assess the present liquidity of the business activities, demonstrate substantial cash flow sources, assist with the estimation of future cash flows and finally will identify cash flow accumulated from trading activities rather than sources of finance. (2)(b) PREPARATION OF A CASH FLOW STATEMENT UNDER A DIRECT METHOD UNDER IAS7 FRS1 The following is a cash flow for Sky plc prepared in accordance with the direct method IAS 7: Notes for Guidance (1) Net profit before tax is taken from the extract of the income statement. (2) Depreciation is shown as a note to the income statement. (3) Loss on sale of the non-current asset; proceeds minus (cost less depreciation to date) see note A1 below. (4) Interest expense is shown on income statement. Changes in Working Capital Structure: Inventory, receivables and payables are differences in opening and closing balances shown on the balance sheet. Disposal Account ( £000’s) Non-Current Assets Notes: (A2, A3 and A4) The interest paid is the net interest cost shown on the income statement and is the 10% charge on loan notes shown on the balance sheet for June 2000. The dividend and tax paid in the year are those shown on the 1999 balance sheet extract under the heading Current Liabilities. (A5) Purchase of Non-Current Assets (A6 A7) Proceeds from the issue of shares and loan notes are the increases shown on the difference between the two balance sheet figures for 2004 and 2005. (A8) This is the net effect from operating activities  £7,975, net cash used in investing activities (8,525) and the net cash flow from financing activities 1,550. (A9) This is the bank figure under current assets 2004 balance sheet. (A10) Bank balance on 2005 balance sheet. (2)(c) ASSESSMENT OF THE COMPANY’S LIQUIDITY IN ACCORDANCE WITH THE INFORMATION ON THE CASH FLOW. Having examined the accounts and financial statements of Sky plc, there is clear evidence reflecting on the company’s liquidity level. Firstly, the measurement of the liquidity ratio revealed that the company was in healthy liquid position. Current Ratio= Current Assets / Current Liabilities Current Ratio of Sky = current assets  £1,830m/ current liabilities  £1,481m= 1.24 times The current ratio measures a company’s ability to meets its financial obligations as they fall due. A normal current ratio is two. Sky’s current ratio is relatively stable considering the type of industry of Sky plc. Acid Ratio= Current Assets- stock/current liabilities Acid Ratio of Sky= Current Assets  £1,830m- Stock  £627m/ Current liabilities  £1,482m=0.81 times The acid ratio clearly indicate that Sky has a high levels of stack and this also demonstrates that the current ratio overstated Sky’s ability to meet its financial obligations because of the inclusion of the stock in the numerator. The information provided in the cash flow, demonstrated clear evidence of liquidity in the flowing of cash. For example, there was a dramatic net increase in cash and cash equivalents of  £1,000m over a year. Furthermore, this indicate that the company’s economic activities are performing well in comparison to the previous year. However, amount  £8525m was invested in investing activities, this figure being greater than the company’s net cash flow from operating activities amounting to  £7975m. Nevertheless, the short fall in the financing of investing activity was meet by new issue of shares  £50m and issue of bank loans  £1500m. Inevitably, the bank loan increases company’s debt and the gearing level of the company. Nevertheless, over a year company’s bank balance increased from  £1250 to  £2250m. In conclusion, the accounts of Sky plc indicate substantial development but there are great expenditure resulting from investment in activities. However, there is not a real concern over the liquidity of the company nor any chances of bankruptcy. BIBLIOGRAPHY Cox .D. 1999 â€Å"Business Accounts† 2nd Edt Osborn Business Naylor.J. 1999 â€Å"Management† Financial Times Prentice Hall Pendlebury. M Groves .R . 2000 â€Å" Company Accounts, Analysis, Interpretation and Understanding† 5th Edt Thompson Russell. D et al 2002 â€Å"Cost Accounting an Essential Guide† Financial Times Prentice Hall. Watson . D Head. A. 2001 â€Å"Corporate Finance Principles and Practice† 2nd Edt Financial Times Prentice Hall.

Huckleberry Finn: hero or villain?

Originally developed in Spain, one of the various styles of writing used by authors is that of the picaresque novel, which involves a picaro, or rogue hero, usually on a journey, and incorporates an episodic plot through various conflicts. Mark Twain's novel, The Adventures of Huckleberry Finn (AHF), is a picaresque novel, marked by its episodic plot with a unifying theme of the river and the characterization of Huck Finn as a rogue hero. The novel's periodic plot is demonstrated by Huck's many adventures in separate episodes having independent conflicts. Gary Weiner, a former English teacher, states that â€Å"the picaresque novel is [†¦ episodic. Various scenes may have little to do with one another, and entire scenes may be removed without markedly altering the plot as a whole† (88). The conflicts that govern Huck's encounters with people like the dishonest and devious king and the duke, the Grangerford family, or Colonel Sherburn are very different and disconnected from one another. Whereas one episode involves two crooks, the duke and the king, the other involves a long-standing family feud between the Grangerford and Sheperdson families, and the third involves a Colonel defending his honor, with very little connection among the episodes. Tom Quirk, an author, editor, and English professor at the University of Missouri-Columbia, also purports that â€Å"Huckleberry Finn is a highly episodic book, and the arrangement of episodes observes no incontestable narrative logic. The feud chapters precede rather than follow the Boggs shooting not for self-evident artistic reasons but because we are to suppose that is the order in which Huck lived them† (97). The different conflicts exhibit the novel's picaresque style and are used to relate the story of a wandering rogue hero. Though the story's plot is episodic in nature, there is, however, a unifying factor of the river, shown through the conflict and water diction. John C. Gerber, a well-known Twain scholar, affirms in â€Å"Mark Twain: Overview† that though â€Å"episodic in nature, the story nevertheless holds together because of the river [and] the constant presence of Huck as narrator†. Every episode in the book takes place along the banks of the Mississippi River, as Huck and Jim travel down the mighty river, trying to find Cairo. From the crashed steamboat to the Royal Nonesuch spectacles along the riverside towns, the small conflicts are related by their proximity to the river. Leo Marx, Senior Lecturer and William R. Kenan Professor of American Cultural History Emeritus at MIT, cites T. S. Eliot, a poet and also another critic, in saying that â€Å"‘The River gives the book its form. But for the River, the book might be only a sequence of adventures with a happy ending'† (12). Water diction is used to purvey a sense of the unifying river in the book. As Huck and Jim raft down the river from Jackson Island, Huck comments: â€Å"Two or three days and nights went by; I reckon I might say they swum by, they slid along so quiet and smooth and lovely† (AHF 129). The river physically holds the story together and also underlies the whole novel. Huck can be compared to Weiner's definition of a Picaresque hero as: â€Å"The picaresque novel is a witty, satirical form that revolves around the exploits of a lower-class hero of dubious morals, often called a ‘rogue hero. ‘ This hero lives by his wits as he moves through the various strata of his society. The hero is constantly in and out of trouble but often uses his street-smarts to emerge from compromising situations. † (87) To that extent, these four character traits are seen in the hero of the story, Huckleberry Finn. Huck can be characterized as having dubious morals through his actions and reasoning. Huck justifies some of his immoral actions, such as stealing, by using his pap's own actions as a precedent. Quirk states, â€Å"Huck is often capable of pseudomoralizing, citing his pap as authority for lifting a chicken or borrowing a melon† (92). As Huck tells the reader during the preparations to help Jim escape from the Phelps residence, â€Å"Along during that morning I borrowed a sheet and white shirt off of the clothes-line [†¦ ] I called it borrowing because that was what pap always called it [†¦ ]† (AHF 256). Also, Huck rationalizes his immoral action when he sneaks into a circus without paying. He defends his action by saying that he did not need to waste money: â€Å"I ain't opposed to spending money on circuses, [†¦ ] but there ain't no use in wasting it on them† (AHF 159). Huck, therefore, carries out improper and immoral actions akin to thievery. Weiner verifies this: â€Å"there is no honor among thieves, and Huck, by necessity, has become one of them† (83). Thus, Huck demonstrates the characteristic of being a rogue hero through his immoral actions and their justification. Rogue heroes travel ‘through' various social strata; through the episodes that Huck experiences, Twain presents the many levels of antebellum Mississippi valley American social strata. Huck starts traveling with Jim, a runaway slave, down the Mississippi river, and eventually befriends him, a lower class individual. Huck, after playing a cruel joke on Jim, apologizes to him. This is highly out of convention for the milieu of the time, as Jim is naught more than a slave, while Huck is a white boy: â€Å"It was fifteen minutes before I could work myself up to go and humble myself to a nigger – but I done it, and I warn't sorry for it afterwards, neither† (AHF 98). This exemplifies one instance where Huck mingles with a person of a lower class. Additionally, Huck cares enough about Jim that he resolves himself to free his friend and suffer the consequences: â€Å"I studied a minute [†¦ ] then says to myself, ‘All right. Then, I'll go to hell' [†¦ I would go to work and steal Jim out of slavery again [†¦ ]† (AHF 228). Huck sacrifices the most valuable part of himself, his soul, to stay with his lower class friend Jim. Huck also interacts with people of higher social classes: â€Å"Tom Sawyer, his aunt, the Widow Douglas, and Miss Watson are all drawn from the middle class. The Sheperdsons and Grangerfords represent the wealthy, aristocratic upper class† (Weiner 73). Miss Watson, who cares for Huck in the beginning, and the Widow Douglas are not overly wealthy, but do have several slaves (AHF 11). The Phelps family, who Huck mingles with when they mistake him for Tom Sawyer, also belongs to the middle class. Huck describes them as well-off, but not overly wealthy family: â€Å"Phelps's was one of these little one-horse cotton plantations†(AHF 232). The cotton plantations were very successful at the time, but the Phelps's is one of a smaller size, denoting their middle-class status. When Huck arrives at the residence of the Grangerfords, an upper-class, aristocratic family who he stays with, he describes: â€Å"It was a mighty nice family, and a mighty nice house, too. I hadn't seen no house out in the country before that was so nice and had so much style† (AHF 112). Huck also describes the house as having features like a fireplace and other luxuries that only the affluent could afford. Therefore, Huck satisfies another requirement of the rogue hero, interacting with characters from various social classes. Another facet of the picaresque hero is his constant entanglement with trouble. Each episode that Huck experiences, embroils him in that conflict until he escapes to stumble into the next conflict. After the episode where Huck and Jim are separated in the fog, they encounter a group of slave-hunters; following that, more trouble befalls them as a steamboat runs into their raft, forcing Huck into the water. Eventually, Huck washes up on the property of the Grangerfords, where he faces the next conflict. In his attempts to escape from trouble, Huck often inadvertently stumbles into more trouble. Huck quick-wittedly answers â€Å"‘Goodness sakes, would a runaway nigger run south? ‘† to the king and the duke's wondering if Jim is a runaway slave (AHF 138). However, according to R. J. Fertel, a Twain scholar, Huck's quick-witted answer â€Å"gets [Jim and Huck] out of the frying pan and into the fire: the duke responds by printing the slave bills that enable their rafting by day and that leads ultimately to Jim's being sold back into slavery† (92). The different conflicts in the story as well as Huck's responses and reactions get Huck often into trouble. Finally, Huck fulfills the fourth criterion for a rogue hero by using wits and practical knowledge of the world to avoid or escape from trouble. Whenever Huck is tangled in a problem, he concocts a story for himself on the spot and manages his way out of trouble. According to Fertel, â€Å"[Huck], [†¦ ] [is] an improviser always ready with a tall tale or scheme or counter scheme [†¦ ] Huck's improvising is [†¦ ] harmless, brought to bear on others only to avoid trouble† (94). After Huck tries to slip away from the duke and the king after the townsfolk find out that the two are not the real relatives of the deceased man, Peter Wilks, the king catches Huck and asks if he was trying to give them the slip. Huck quickly lies that the man â€Å"‘that had aholt of me was very good to me [†¦ ] and he was sorry to see a boy in such a dangerous fix; [†¦ he [let] go of me and whispers ‘Heel it now, or they'll hang ye for sure! ‘ and I lit out'† (AHF 219). Similarly, when Jim is in danger of being discovered by raftsmen, he quickly lies to them and convinces them that his father has smallpox: â€Å"‘[†¦ ] gentlemen, if you'll only pull ahead, and let me heave you the head-line, you won' t have to come a-near the raft;'† the men immediately back off: â€Å"‘Keep away, boy – keep to looard. [†¦ ] Your pap's got the smallpox and you know it precious well. [†¦ ] Do you want to spread it al over? ‘† (AHF 103). Huck lies again to protect himself as well as Jim. In addition, he uses his practical knowledge to support his story when he is cornered by Mrs. Judith Loftus. To see if Huck was really from a farm, as he had told her while in the guise of a girl, she asks him questions, such as â€Å"‘Which side of a tree does the most moss grow on? ‘† to which Huck promptly and correctly answers â€Å"‘North side;'† Huck's practical knowledge convinces her, as she responds, â€Å"‘Well, I reckon you have lived in the country,'† and relieves Huck of momentary trouble (AHF 71). Quickly concocting stories and lies as well as utilizing practical knowledge characterize Huck's wit, fulfilling this criterion of the rogue hero. An episodic plot and Huck Finn as a rogue hero establish Mark Twain's The Adventures of Huckleberry Finn as a picaresque novel. The plot consists of many episodes with separate and disconnected conflicts, all bound by the river. Huck Finn can be characterized as a rogue hero, thus fulfilling all the necessary criteria for the picaresque novel.

How Does Hosseini Tell the Story in Chapter 2 Essay

During this early stage of the novel, narrative is fundamental in forming the basis and definition of Amir, the protagonist and teller of the story. As well as this, several expectations for the novel are also established, particularly in terms of characterization and plot. Whilst the book as a whole can be described as a psychological exploration into the complexities of guilt and jealousy, this chapter differs in the sense that the narration deliberately refrains from discussing any thoughts or emotions of Amir. Founded on factual knowledge such as dates, times, births, deaths, and directly quoted dialogue, the formal tone may reflect the writer’s attitude to the material being discussed; perhaps he is ashamed and wants, during this chapter, to distance himself from emotional implications and accountability? Instead, we are introduced to the voices of other characters, such as Baba, Ali and Sanaubar. This begins to embed the idea that the plot will revolve around a delicate web of interpersonal relationships. Furthermore, Hosseini’s first-person narrator makes the larger story of Afghanistan’s troubles seem very personal, as Amir’s tale of personal abuse, betrayal, and redemption, mirrors the tale of Afghanistan itself. Hosseini uses contrast to illustrate the inverse lives of Amir and Hassan. Endless description of infinite luxury, marble surfaces, the warmth of fire, and curved walls steering through one room after another, is followed by a single sentence, almost as an afterthought, mentioning Hassan and Ali’s humble mud hut at the bottom of the garden. The choice of sentence structure is reflective of their positions in society; their respective lifestyles are the culmination of ethnic tensions and intolerances. However, a degree of similarity remains, a similarity that is irrelevant of society. Both Hassan and Amir have lost their mothers, and as a consequence, only have their fathers and each other. They are closer than regular friends, or more like brothers. Their relationship plays a central role in the book, and it figures in another theme that is introduced in this chapter: standing up for what is right. But despite this undeniable connection, Amir cannot call Hassan a friend, in the same way that Baba never refers to Ali as a friend either. The looming division of religious beliefs is further intensified by the blasphemous language used by the soldiers in reference to Hassan’s mother, which gives an impression of the control and sadistic ways associated with the treatment of Hazaras by the Pashtuns. The significance of setting becomes increasingly apparent as the book goes on, and in this chapter we are introduced to the pastoral environment that sets the scene for the childhood that Amir and Hassan shared. Hosseini crafts a typical landscape in descriptive detail of the Afghanistan that once was, of sunlight, trees, fruit, and autumn colours. This imagery is recurrent in passages of retrospective throughout the novel, and is part of a structural plan to effectively shock the reader in later chapters when Amir returns to Afghanistan.

The Life of Serial Killer Israel Keyes

On March 16, 2012, Israel Keyes was arrested in Lufkin, Texas after he used a debit card that belonged to an 18-year-old Alaska woman that he killed and dismembered in February. During the following months, while awaiting trial for the murder of Samantha Koenig, Keyes confessed to seven other murders during more than 40 hours of interviews with the FBI. Investigators believe there are at least three more victims and possibly much more. Early Influences Keyes was born Jan. 7, 1978 in Richmond, Utah to parents who were Mormon and homeschooled their children. When the family moved to Stevens County, Washington north of Colville, they attended The Ark, a Christian Identity church which is known for racist and anti-Semitic views. During that time, the Keyes family was friends and neighbors with the Kehoe family. Israel Keyes was childhood friends of Chevie and Cheyne Kehoe, known racists who were later convicted of murder and attempted murder. Military Service At age 20, Keyes joined the U.S. Army and served at Fort Lewis, Fort Hood and in Egypt until he was honorably discharged in 2000. At some point during his young adult years, he rejected religion completely and proclaimed he was an atheist. Keyes life of crime had begun before he joined the military, however. He admitted to raping a young girl in Oregon sometime between 1996 and 1998 when he would have been 18 to 20 years old. He told FBI agents that he separated a girl from her friends and raped, but not killed her. He told investigators that he planned to kill her, but decided not to. It was the beginning of a long list of crimes, including burglaries and robberies that authorities are now trying to piece together into a timeline of Keyes criminal career. Sets up Base in Alaska By 2007, Keyes established Keyes Construction in Alaska and began working as a construction contractor. It was from his base in Alaska that Keyes ventured out into almost every region of the United States to plan and commit his murders. He traveled many times since 2004, looking for victims and setting up buried caches of money, weapons, and tools needed to kill and dispose of the bodies. His trips, he told the FBI, were not financed with money from his construction business, but from the money he got from robbing banks. Investigators are trying to determine how many bank robberies that he may have been responsible for during his many trips across the country. It is also unknown at what point Keyes escalated to committing random murders. Investigators suspect it began 11 years before his arrest, shortly after he left the military. Modus Operandi According to Keyes, his usual routine would be to fly to some area of the country, rent a vehicle and then drive sometimes hundreds of miles to find victims. He would set up and bury murder kits somewhere in the targeted area - stashing items like shovels, plastic bags, money, weapons, ammunition and bottles of Drano, to help dispose of the bodies. His murders kits have been found in Alaska and New York, but he admitted to having others in Washington, Wyoming, Texas and possibly Arizona. He would look for victims in remote areas like parks, campgrounds, walking trials, or boating areas. If he was targeting a home he looked for a house with an attached garage, no car in the driveway, no children or dogs, he told investigators. Finally, after committing the murder, he would leave the geographic area immediately. Keyes Makes Mistakes In February 2012, Keyes broke his rules and made two mistakes. First, he kidnapped and killed someone in his hometown, which he had never done before. Secondly, he let his rental car be photographed by an ATM camera while using a victims debit card. On Feb. 2, 2012, Keyes kidnapped 18-year-old Samantha Koenig who was working as a barista at one of the many coffee stands around Anchorage. He was planning to wait for her boyfriend to pick her up and kidnap both of them, but for some reason decided against it and just grabbed Samantha. Koenigs abduction was caught on video, and a massive search for her was conducted by authorities, friends, and family for weeks, but she was killed shortly after she was abducted. He took her to a shed at his Anchorage home, sexually assaulted her and strangled her to death. He then immediately left the area and went on a two-week cruise, leaving her body in the shed. When he returned, he dismembered her body and dumped it in Matanuska Lake north of Anchorage. About a month later, Keyes used Koenigs debit card to get money from an ATM in Texas. The camera in the ATM captured a picture of the rental car Keyes was driving, linking him to the card and the murder. He was arrested in Lufkin, Texas on March 16, 2012. Keyes Begins to Talk Keyes was originally extradited back from Texas to Anchorage on credit card fraud charges. On April 2, 2012, searchers found Koenigs body in the lake. On April 18, an Anchorage grand jury indicted Keyes for the kidnapping and murder of Samantha Koenig. While awaiting trial in the Anchorage jail, Keyes was interviewed for more than 40 hours by Anchorage police detective Jeff Bell and FBI Special Agent Jolene Goeden. Although he was not completely forthcoming with many details, he began to confess to some of the murders that he committed over the past 11 years. The Motive for Murder The investigators tried to determine Keyes motive for the eight murders to which he confessed. There were just times, a couple of times, where we would try to get a why, said Bell. He would have this term; he would say, A lot of people ask why, and I would be, like, why not? Keyes admitted to studying the tactics of other serial killers, and he enjoyed watching movies about killers, such as Ted Bundy, but he was careful to point out to Bell and Goeden that he used his ideas, not those of other famous killers. In the end, the investigators concluded that Keyes motivation was very simple. He did it because he liked it. He enjoyed it. He liked what he was doing, Goeden said. He talked about getting a rush out of it, the adrenalin, the excitement out of it. Trail of Murders Keyes confessed to the murders of four people in three different incidents in Washington state. He killed two individuals, and he kidnapped and killed a couple. He didnt provide any names. He probably knew the names, because he liked to return to Alaska and then follow the news of his murders on the Internet. He also killed another person on the East Coast. He buried the body in New York but killed the person in another state. He would not give Bell and Goeden any other details of that case. The Currier Murders On June 2, 2011, Keys flew to Chicago, rented a car and drove almost 1,000 miles to Essex, Vermont. He targeted the home of Bill and Lorraine Currier. He conducted what he called a blitz attack on their home, tied them up and took them to an abandoned house. He shot Bill Currier to death, sexually assaulted Lorraine and then strangled her. Their bodies were never found. A Double Life Bell believes the reason that Keyes gave them more details about the Currier murders was because he knew they had evidence in that case pointing to him. So he opened up more about those murders than he did the others. It was chilling to listen to him. He was clearly reliving it to a degree, and I think he enjoyed talking about it, Bell said. A couple of times, he would kind of chuckle, tell us how weird it was to be talking about this. Bell believes their interviews with Keyes were the first time he had ever talked with anyone about what he referred to as his double life. He thinks Keyes held back details of his other crimes because he didnt want members of his family to know anything about his secret life of crime. How many more victims? During the interviews, Keyes referred to other murders in addition to the eight to which he confessed. Bell told reporters that he thinks Keyes committed less than 12 murders. However, in trying to piece together a timeline of Keyes activities, the FBI released a list of 35 trips that Keyes made across the country from 2004 to 2012, in hopes that the public and local law enforcement agencies could match up bank robberies, disappearances and unsolved murders to times when Keyes was in the area. Talk Is Over On Dec. 2, 2012, Israel Keyes was found dead in his Anchorage jail cell. He had cut his wrists and strangled himself with a rolled-up bedsheet. Under his body was a blood-soaked, four-page letter written on yellow legal pad paper in both pencil and ink. Investigators could not make out the writing on Keyes suicide note until the letter was enhanced at the FBI lab.​ An analysis of the enhanced letter concluded that it contained no evidence or clues, but was merely a creepy Ode to Murder, written by a serial killer who loved to kill. The FBI concluded there was no hidden code or message in the writings, the agency said in a news release. Further, it was determined that the writings do not offer any investigative clues or leads as to the identity of other possible victims. We may never know how many people Israel Keyes killed.