Financial Performance of Bega Cheese-Free-Samples-Myassignment

Question: Examine about the Financial Performance of the Organization Bega Cheese. Answer: Fiscal report and Trend Analysis Bega Cheese is one of the main dairy item selling associations in Australia. The association was begun by some dairy providers and it was drifted openly in the year 2011. The association has so far created noteworthy measure of income from selling dairy items all over Australia. The primary salary of the association is created through the deals of dairy items offered to the residential family unit in Australia and it likewise sells its items in the universal market. The association has done entirely great in the ongoing years and has become a main dairy item selling association in the nation. As expressed by the authoritative measurements the organization has had the option to produce all out income of $1000 million of every 2013 which is a noteworthy climb of around 8.4% when contrasted with the past budgetary year of 2012 (Dharma, 2012). The association Bega Cheese is known for its client driven business technique and spotlights on innovative work to continually improve its client support and item quality. The fundamental plan of the association is to arrive at every single client through quality item at a value that the client wouldnt be hesitant to pay and this has to a great extent helped the association to take into account the necessities and needs of the buyers successfully. By the budgetary year of 2014 the association recorded deals of over $ 1050 million with a generous ascent by 6.47%. It is ordinarily expressed that the ascent which has come in the income created is because of the proactive and compelling protective technique of expanding the measure of piece of the overall industry and furthermore hoping to begin new pursuits through procuring Saputo Inc. through an offer of around 19% of the Bega Cheese Group (Smith and Pititto, 2014). The association has additionally centered around making sure about its gross overall revenue which is probably going to assist the association with cementing its situation in the market and furthermore help to tolerate a lot greater costs for the advancement reason for the business. The gross overall revenue of the association has changed in the monetary long periods of 2012, 2013 and 2014 separately with the tallying being 12.45 percent, 12.95 percent and 11.06 percent individually. This is an incredible marker of the expanding cost of the organization to fabricate items. The dunk in the gross benefit rate shows that the authoritative assembling cost is expanding quicker when contrasted with the deal cost of the item (Petty et al., 2015). There are number of angles which have added to the expansion in the expense of assembling a portion of the major being money swelling, increment in the work wage and furthermore because of the increment in the cost of the crude materials which are basic for the assembling of the dairy items. It is significant for the association Bega Cheese to concentrate on understanding certain key roads. The association to consider to grow its business into new markets either with the assistance of item expansion or through the system of entrance estimating so as to accomplish cost initiative in the new market to produce higher income and parity the gross net revenue (Ho et al., 2013). Discussing the use of the organization one might say that the principle consumption associated with the organization is primarily circulation and authority costs. Note that the association goes through an immense measure of cash for successful dispersion of the items and authoritative costs which plainly demonstrate the principle reason of the decrease in benefit before expense and premium. So as to break down the net benefit of the association we have considered an exchange of a WCB stake worth $ 66 million about. This has assisted with understanding the net overall revenue which comes to 2.20, 2.53 and 6.18 percent individually for the three years. The Bega Cheese the board has attempted to assume liability to lessen cost particularly in the auxiliary techniques like advertising which added to the improvement of the net overall revenue (Dharma, Shafron and Oliver, 2012). It could be seen that the complete income in the money related year of 2014 is sufficiently only to conceal the costs of the association as the association needed to settle up a gigantic measure of assessment which expanded by around 177% to be exact and this occurred because of the WCB exchanges which plainly shows that the association couldnt do much aside from that one exchange which consumes a tremendous space in the budget report of the association (Smith and Pititto, 2014). For this situation notice that the net revenue is considered chiefly by the investors and the possibility speculators to break down the money related situation of the organization which encourages them to expect the chance of their venture returning and greater exchanges like the WCB gives them trust. The returns which were gotten from this exchange was adequately used to satisfy long haul money related commitments and to improve the liquidity of the association. Then again the association will likewise need to consider their arrival on resources as it gives a mirror reflection on the money related use of benefits and how their work adds to the budgetary adequacy of the association (Brigham and Daves, 2012). The arrival on resource figured shows an expansion from 7.03 percent in the budgetary year of 2012 and climbed to by 11% in the accompanying two years going to a figure of 18%. Capital Employed is another key proportion which shows the absolute value and the obligation money. As indicated by records one might say that the association has only one significant long haul credit which has been gradually reimbursed by the association. Between the money related year of 2012 and 2014 the most extreme portion of the credit had been reimbursed and the complete value has been accounted for on 27.57%. Despite the fact that the estimation of the monetary resources plunged because of the decrease in the stores yet the association had the option to pull back the incentive because of the deals of new offers that supported the profit to a huge degree. The arrival on capital utilized ascended to 19.63 % with increment in benefit in the money related year of 2014 as the association generated expanded benefit, reimbursed credits which assisted with returning on target (Grant, 2016). Liquidity plays a significant viewpoint for each business and through the comprehension of speedy proportion and current proportion it could be viably comprehended. Both of these proportions are viable in understanding the hierarchical ability of repaying credit and having viable methodology to have the option to take care of advances. One might say that it is appropriate for an association to have comparable current advantages for liabilities however higher resources is alluring. The current proportion assists with surveying whether an association can take care of advances inside a specified time (Brigham and Houston, 2012). Current proportion of Bega Cheese must be steady and according to the data given in the table joined beneath it shows that there has been fall in the proportion in 2014 when contrasted with 2012. One might say that despite the fact that the associations current proportion has plunged however it is as yet adequate as the organization despite everything has enough to pay the lenders because of the expansion in speculation of current resources, receivables. The expansion in charge liabilities and payables could be considered as the primary explanation of decrease in current proportion. Then again the fast proportion of the association remained fixed on 0.65 which implies the association can pay decent lot of current liabilities inside a specified time (Brigham and Ehrhardt, 2013). The Efficiency of the association Bega Cheese is dissected with the assistance of receivable turnover and stock turnover which encourages the association to see how quicker or more slow they get from the indebted individuals and how quick they can create crude materials and inventories to completed items. One might say that receivable turnover of Bega Cheese is bit frail and the association has begun to call up clients more than 5 to 6 times each year now for installment. Then again the association should get exacting on quality control which would assist with improving stock turnover successfully. As the most recent record shows the association could turnover stock multiple times now with expanded need of the items (Higgins, 2012). The Debt proportion of Bega Cheese is at 43 % now which implies theres a positive result for the investors for venture as expressed in 2014. Because of expanded benefit intrigue reimbursement has been powerful to be exact now it pays 15.64 occasions enthusiasm for a year. The benefit turnover proportion additionally shows successful outcome demonstrating powerful use of advantage which unmistakably shows that the association has had the option to oversee long haul dissolvability (Smith and Pititto, 2014). Constraints of Financial Ratio Calculations There are noteworthy confinements to counts of budgetary proportion. First of the whole proportion figuring is done dependent on the past information and suppositions and subsequently changes in bookkeeping principles and strategy will affect the computation (Healy and Palepu, 2012). The money related computations dont think about the social obligations of the association and henceforth diminish the social effect of the association. At long last one might say that money related translation are additionally to a great extent reliant on the aptitudes and skill of the individual doing them and consequently the understanding may contrast given the thought the individual makes (Delen, Kuzey and Uyar, 2013). End From the above conversation one might say that Bega Cheese has developed as an association throughout the years and money related year of 2014 has brought noteworthy outcomes for the association making it very much positioned in the Australian Market. Its arrival on capital utilized, return on resource, turnovers have been powerful which implies the organization is doing acceptable from the

Analytical essay on Mesopotamian art and architecture

Scientific on Mesopotamian craftsmanship and engineering - Essay Example Moreover, Assyrian craftsmanship configuration was not quite the same as the structure of Babylonian workmanship, which inevitably turned into the primary current plans in Mesopotamia, reemerged during the 1500 BC and won until the finish of Nineveh reign in 612 BC. For the most part, the primary part of Assyrian workmanship configuration was the slashed stone help of polychrome structure that was utilized to trim majestic expressions. The plainly outlined reliefs represented illustrious undertakings, basically chasing and sorting out for effective fights. The workmanship prevalently catches creature structures, particularly a pony and lion; these were carefully depicted in the craftsmanship in a complete way (Begemann et al 135-169). Furthermore, however, significant characters are genuinely unbending they are additionally generously spoken to, as in successful scenes of tasks, wars, and individual military commitment. Assyrian reliefs that evidently famous incorporate the lion-chase figures portraying Assurbanipal of seventh century BC and Assurbanipal II of the ninth century BC (Ulrichsen 349-377). The two carvings are filed by the British. Watchman nature made out of lions and other flying untamed life with furry human face. The models were introduced in inadequate bends for solid grand doors. It is striking, however, that Nimrud-cut elephant tusks and bronze plates were situated by archeologists. The things are shaded in the Assyrian structure, and were the brainchild of and Aramaic and Phoenician craftsmans (Landes, Mokyr, and Ba umol 164-168). Mesopotamia’s auxiliary plans are the soonest structures of the general public of the Mesopotamia area, which is mainstream for the Tigris and Euphrates streams. The plans incorporate a few one of a kind societies and enduring between the tenth thousand years BC and the sixth century BC when the most seasoned structures were raised. Eminently, the Mesopotamian building accomplishments incorporate the development of towns through appropriate organizing strategies, the

Posner & Petersen Essay Example for Free

Posner Petersen Essay With the appearance of innovation and the expanding multifaceted nature of the human machine interface, the requests on the attentional limit of human administrators in these developing frameworks is extremely high. Broadbent (1958) was the first to propose a hypothesis on consideration; he contended that we have serious restriction on our capacity to focus on more than one occasion. As per him the wellspring of this restriction is an inner channel that acknowledges one message and rejects others. The view that our consideration is restricted originates from the nearness of the mixed drink party issue and air traffic controllers which are basically consideration exchanging issues. Therefore in our innovatively advance world, where everything is a tangible encounter, it is clear that the boost over-burden in our tactile modalities may prompt reduced execution. The significance of consideration regarding execution has been broadly acknowledged, it is an essential part in mental preparing (Posner Petersen, 1990). In controlled research center trials on dichotic tuning in (Cherry, 1953) which is all the more broadly known as shadowing found that audience members could report quite a bit of what was introduced to the went to ear yet little in the event that anything about the substance of the message in the unattended channel. We utilize our consideration regarding pick and increment the preparing of improvements that are generally critical at every second. Focusing on an improvement prompts lower perceptual edges, quicker response times and expanded segregation exactness (Rorden Driver, 2001). Be that as it may, the investigation of consideration stays to be a test for most analysts because of its uncertainty and the trouble in estimating it. Neurological and intellectual clarifications of consideration have had large amounts of ongoing years and have managed us with a superior method for getting consideration (Posner Petersen, 1990). Posner (1980) in his article conceived a hypothesis of understanding consideration that gave us a more profound comprehension of the human spatial attentional procedure in the perceptual space. He recommended that understanding the components of situating; recognizing, locus of control and undercover and unmistakable arranging can be utilized in clarifying how spatial consideration capacities. The most significant of which is his separation of locus of control which are outside and focal controls, or for reasons for this investigation it is alluded to as exogenous and endogenous handling. Exogenous preparing alludes to occasions controlling the situating of consideration outside the systems or all the more explicitly improvement driven reactions. For instance when an upgrade draws the consideration of the instrument to a specific zone in space the recognition of other objective occasions here become almost certain. In the interim, endogenous preparing is the place the focal system alone guides the distribution of focus toward a specific are in space through such methods as guidance or likelihood of target occasions happening in the proper zone of room. Similarly, Posner additionally unmistakably sorted arranging into obvious and incognito situating. He said that having the option to recognize secret structure plain situating one should initially have the option to gauge clandestine arranging without utilizing obvious head and eye developments. Past examinations on consideration had concentrated on vision as opposed to different faculties. The various examinations on visual consideration had put together their suppositions with respect to the limitation of visual receptors and eye development. As of late, the ideal models used to gauge visual consideration have additionally been applied to sound-related consideration. Analysts Spence and Driver (1994) had shown in their tests that the signaling worldview can likewise be applied to sound-related consideration. They found that secret arranging occurs in human sound-related framework and that it impact limitations in the exogenous undertakings and both restriction and contribute segregation the endogenous errands. Given the restricted hypotheses and logical examinations on sound-related consideration it is of significance to duplicate the said investigation to approve their discoveries and perhaps investigate new discoveries. Be that as it may, in the current investigation, 3-dimensional sound is utilized to produce prompts instead of the free-field signs utilized in the first tests. Utilizing 3-dimensional sound instead of free-field sound has been seen as increasingly compelling in controlling for front-back disarray, wherein the sound is distinguished as originating from an off base hemifield and given that high event of this disarray can prompt restriction blunders along these lines the decision of utilizing 3-dimensional sound (Parker, et. al. , 2004). In any case, early looks into utilizing 3-dimensional sound when contrasted with free-field sound have produced questionable outcomes, as in an examination where virtual and free-field sound was contrasted as far as prompts related and development of the head found that the front-back disarray rate for virtual sound have been twofold to that of the free-field (Wightman Kistler, 1989). Endless supply of front-back mistakes in the investigation, the confinement blunders were as yet more prominent for virtual sound. The clashing consequences of sound-related examinations have driven analyst Martin, McAnnaly and Senova (2001) to devise a framework that would empower the utilization of virtual sound by guaranteeing that its quality is proportionate to that of free-field sound concerning front-back disarray and restriction mistakes. Conversely, it was discovered that non-individualized 3-dimensional sound is related with an expansion in front-back disarray, poor confinement keenness and poor externalization (Begault Wenzekm 1993; Moller, et. al. , 1996, Wenzer, et. al. , 1993). Parker et al (2004) researched the viability of utilizing virtual 3-D sound in a high outstanding task at hand flight reproduction task. They enhanced the head-down presentations with high-constancy 3-D sound, and found that when the virtual 3-D sound was introduced visual obtaining time was snappier. Besides they found with the virtual 3-D sound introduced apparent outstanding task at hand was diminished and situational mindfulness was improved. Flanagan et al (1998) additionally utilized virtual 3-D sound in a trial which contrasted an independent inquiry and visual and sound-related quest prompts for focuses outside the visual field. In the analysis they utilized both virtual sound (by means of earphones) and virtual viewable signs (through cap mounted showcase), and found that both the visual and sound-related prompts were viable in diminishing quest times for the objectives. The current investigation would in this manner utilize the framework created by Martin, McAnally and Senova (2004) to regulate 3-dimensional sound utilizing Spence and Driver (1994) exploratory conditions. So as to increase a superior comprehension of the complexities of the factors in this examination and of how significant the investigation of consideration is, a survey of the relevant factors is introduced. 1. 1 Attention System The consideration framework is hard to investigate, in comprehension the different perceptual properties can be identified with concrete perceptual frameworks like how perceptual fantasies can be clarified by the impediments of our optical framework. While in the investigation of consideration framework one needs to manage it as an absolutely intellectual occasion with no physical substrate to allude to. So as to investigate the properties of consideration, the different segments of the internal operations and intellectual procedures should be separated; in the investigation of comprehension, specialists can control the measure of information that the perceptual modalities process and even the physical and neurological structures of consideration can be distinguished. Posner (1980) in his article contrived a hypothesis of understanding consideration that gave us a more profound comprehension of the human spatial attentional procedure in the perceptual area. He recommended that understanding the systems of arranging; distinguishing, locus of control and clandestine and clear situating can be utilized in clarifying how spatial consideration capacities. Arranging alludes to the adjusting of consideration with a wellspring of tactile info or an inward semantic structure put away in memory. Situating can occur in a plain or undercover way. Recognizing alludes to the level with which the sensory system is made mindful of an improvement. It might be in a verbal or manual structure. A significant qualification in the investigation of spatial consideration is the locus of control. Posner (1980) characterize the procedure of control as either being outer or focal control of the arranging of consideration. Different terms, for example, programmed versus non-programmed and exogenous and endogenous have additionally been utilized to depict this procedure. Obvious situating alludes to the watched head and eye developments when a life form takes care of a boost, incognito arranging alludes to real procedures that can be accomplished uniquely by the focal instrument and can be estimated by exploratory strategies. Spatial consideration has been identified with plain developments of eyes, body, head and so forth yet the connection among development and consideration has been completely indistinct. Various speculations overseeing the level of reliance of the attentional frameworks to eye developments have been hypothesized along the years. The normal framework says that consideration developments are fixed to the development of the eyes. In any case, the conduct proof proposes that consideration can be moved with the eyes fixed, this discoveries and together with results indicating upgrade of evoked possibilities (Eason, Harter White, 1969; Von Vorrhis Hillyard, 1977) and the terminating paces of single cells (Bushnell, et. al. , 1978), have wiped out the possibility that consideration and eye developments are indistinguishable frameworks. The efference hypothesis (Wurtz Mohler, 1976) suggested that consideration shifts were programs for the development of the eyes. Klein (1979) said â€Å"when regard for a specific area is wanted , the onlooker gets ready to make an eye development to that area; the oculomotor preparation, by means of up 'til now obscure feedforward pathways , has the impact of upgrading handling in or from tangible pathways managing data from the objective location†. In his analyses, Klein (1979) f

The Quintessential Handbook to Where to Buy Term Papers Online

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Walpole s Master Pl Walpole - 1353 Words

Walpole’s Master Plan Walpole’s Master plan was constructed in 2004 and is a 20-year program with updates every five years. This document encompasses some major construction, economic and living plans to help bring Walpole to an up to date town. Downtown Campus Downtown Walpole has many assets which include: a commuter rail station, several â€Å"town center† style blocks, and civic land uses, that could be redeveloped. A new â€Å"campus† of public buildings with a town green along with public improvements such as streetscape can attract more private investment to the center. Apartments over current first floor retail stores could encourage more variety in goods and services by providing more customers. Apartments usually have fewer bedrooms and fewer married couples with children. This could in turn create a net tax benefit to the Town. With these opportunities in place the Planning committee of Walpole has made several recommendations. These recommendations include, but are not limited to: â€Å"Establish a Downtown Opportunity Overlay District with design guidelines for all new development and redevelopment. Plan for a municipal facilities campus or civic center for public safety departments, town offices, the library, a new senior center, a new Town Green, and a parking deck. Designate the Center for District Improvement Financing to fund public realm improvements such as streetscape amenities and new parking options.† (Elizabeth Gaffey) With several new regulations and new

Obesity And Its Effects On Obesity - 911 Words

Obesity Obesity is defined as having too much total body fat and a body mass index (BMI) of 30 or more. BMI is an estimate of body fat and is calculated from your height and weight. Prolonged obesity is a serious health concern that can cause major illnesses, including: †¢ Stroke. †¢ Heart disease. †¢ Diabetes. †¢ Cancer. †¢ Arthritis. †¢ High blood pressure (hypertension). †¢ High cholesterol. †¢ Sleep apnea. †¢ Erectile dysfunction. †¢ Infertility problems. Your weight does not need to be a lifelong problem. Obesity can be treated. This often involves changing your diet and becoming more active. 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Your BMI will be compared with the BMI for other people of your age and gender. †¢ A person is considered overweight when his or her BMI is higher than the BMI of 85 percent of men or women of the sameShow MoreRelatedObesity And Its Effects On Obesity1637 Words   |  7 Pagesdestructive can effects of obesity be. First of all what is an obesity? Obesity is an abnormal accumulation of body fat, usually 20% or more over an individual s ideal body weight. It is a very serious problem and is becoming very dangerous in today’s world. Obesity is now considered to be the second most preventable death in America, with tobacco being the first. As use of tobacco rates continues to decline, the obesity rates continue to rise. With that being said, death numbers of obesity are goingRead MoreObesity And Its Effects On Obesity970 Words   |  4 PagesObesity is the buildup of excess body fat, caused by the ingestion of more food than the body can use in which the extra calories are stored as fat. Obesity is measured by taking BMI, or body mass index of the pers on which is their height and weight and putting it into a formula. As stated by The Editors of Encyclopà ¦dia Britannica, â€Å"A BMI between 25.0 and 29.9 equates with overweight and 30.0 and above with obesity. Morbid obesity (also known as extreme, or severe, obesity) is defined as a BMI ofRead MoreObesity And Its Effects On Obesity1692 Words   |  7 Pages  Ã‚  Obesity in America is a health issue which needs to be addressed, but many do not realize that obesity is an issue that needs to be addressed in more ways than one.   Because Americans are not knowledgeable in the issue of obesity, many in society view obese people as unhealthy and irresponsible and treat them with disrespect.   How to overcome and prevent obesity, its causes, and different treatments are all ways that obesity needs to be addressed; however, the disrespect towards those who are obeseRead MoreObesity And Its Effects On Obesity1068 Words   |  5 PagesObesity has been around for several thousand s of years but hasn’t always been a serious epidemic. A higher amount of fat or stored energy used to mean a greater chance at surviving a famine, but those times are long gone in the industrialized world. As time has progressed, we’ve see an exponential growth in obesity rates despite our best efforts to slow it down. In order to contain and eventually decrease obesity rates, we would first need to know what fuels this powerful monster of the westernRead MoreObesity And Its Effects On Obesity Essay1282 Words   |  6 Pagesactually leading to an unhealthy lifestyle which is known as obesity. IV. Obesity is a condition of human body that is not as desirable Body Mass Index (BMI) due to accumulation of excess body fat in the blood vessels. A. According to Gary D. Foster, author of the article Primary Physicians’ Attitudes about Obesity and it’s Treatment ,this disease become epidemic in the society and not being solved as the patients’ fears to treat obesity is mainly due to their negative approaches towards this problemRead MoreObesity And Its Effects On Obesity1554 Words   |  7 Pages Obesity is a condition that is characterized by excess body weight due to the overconsumption of calories in relation to the calorie loss. There are however other associated causes of obesity that have been identified by the scholars and the variables involved in the trend of this condition have a significant correlation. Different tools have been implemented overtime in the management of obesity to mitigate the short term and the long-term effects that result from this conditionRead MoreObesity And Its Effects On Obesity Essay913 Words   |  4 PagesRecent years health experts have been warning people to control their weight and adopt a healthier lifestyle.Over time obesity is a still problem with our society today also, its rates have tripled especially in America.It is obvious we are losing the battle against obesity. Combating obesity and its numerous illnesses will not require more drugs to lower cholesterol, diet books. It will require rethinking our environment.Other measures need to be taken to tackle this international epidemic. AddressingRead MoreObesity And Its Effects On Obesity1612 Words   |  7 PagesApproximately 17% of children in the United States have been diagnosed as obese (Prevention, 2011). Although the prevalence of obesity has plateaued in the most recent years, the amount of children who are obese is still higher than what is desired. These obesity rates are alarming due to the effect it will have on them and their healthcare. As more children are diagnosed with obesity, the more children increase their risk of cardiovascular disease, h ypertension, and insulin resistance later as adults (NewbyRead MoreObesity And Its Effects On Obesity1281 Words   |  6 PagesThe famous actor and comedian, Will Ferrell, quoted on twitter, â€Å"Obesity doesn’t run in your family, no one runs in your family†. The joke was intended to be funny, but I’m sure it hit closer to home for a lot of people more than anything else. Many problems in America consist of low employment rates, global warming and, not to forget, obesity. What other country has issues that include the overweight factor? Exactly, none. While mostly adolescent teens to adults are struggling to turn their livesRead MoreObesity And Its Effects On Obesity895 Words   |  4 PagesRecent years health experts have been warning people to control their weight and adopt a healthier lifestyle.Over time obesity is a still problem with our society today also, its rates have tripled especially in America.It is obvious we are losing the battle against obes ity. Combating obesity and its numerous illnesses will not require more drugs to lower cholesterol, diet books. It will require rethinking our environment.Other measures need to be taken to tackle this international epidemic. Addressing

Project Management Methodologies Crosby Water Treatment

Question: Discuss about the Project Management Methodologies for Crosby Water Treatment. Answer: Introduction Mt Crosby west water treatment plant is the principal back up of Mt Crosby east water treatment plant. This paper seeks to provide a blueprint and plan that will continually position the plant to serve its core mandates as well as her secondary objectives. The argument of this paper is on the technical aspects of the plant and how these aspects when followed to the expected standards will continue to improve the services of the company and meeting the needs of the clients to the best levels possible. These technical aspects that need to be addressed are; supply and installation of four Back wash motors within the filter plant of the water treatment plant, supply and installation of thirty eight Actuators and thirty six Butterfly valves within the filter plant and six Actuators within the pure water dry well. These aspects of the plant are fundamental given that the plant is about treatment of water before being released to the environment or being used for domestic/industrial purposes. Back Wash Motors The Back Wash Motor is a machine that uses electricity to pump water in reverse manner through a series of filters during the water treatment process. The four back wash motors that will be replaced will have laser alignment to corresponding water pumps. This will ensure the pump and the motor are in sync thus improving efficiency of the two coupled machines. Laser alignment is accurate and has no substantial error thus the combined machines will work as a unit as possible. The Motors will be fitted with the thermistor controls. Thermistor controls helps to check on over-heating of the motor because the motor itself has no 100% efficiency thus the electric current it absorbs isnt all converted into mechanical energy of rotation, the excess energy is lost through heat dissipation. The thermistors in this case will regulate the temperature of the motors within the range the motors can perform within acceptable level. The Electrical and Mechanical drawings, Electrical specification desi gn and justification report, operation and maintenances manual should be handed in to the Electrical department manager. These reports and manuals are crucial during routine maintenances of the machines as well us during repairs and are to be submitted immediately after the installation is complete and commissioned. These replacements should be done after every 3 years of operation. This part of the plan is cost intensive and will be funded by the company and actual amount will depend on the lowest bid from suppliers who meets conditions as stated in request for quotation. However the amount should vary reasonably within the current retail prices of USD 650 of the motor of the same specifications. (Baker and Newland, 2008) The bearing vibration test report should be hand in to the Electrical manager immediately after installation and thereafter three months in service. The electrical department manger will be in charge of the work progress and will communicate the improvement of the machines upon installation through the internal memo of the company and also will monitor the progress of the installation and provide graphical representation of the progress being made. The process of replacing these motors is capital intensive. The resources will be acquired from management and it will depend on the least quotation provided by the suppliers. Below is the goal statement for this objective. (Buzzi, 1992) Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, installation commissioning of 4-back wash motors and laser alignments. Against request for quotations (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 400 adjusted according to inflation in 3 years (Mark appropriately Supply and installation of thermistor controls. Against (RFQ) Electrical department manager One month after every 3 years Within USD 200 with regard to inflation within 3 years (Mark appropriately Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately Filter Inlet Penstock Valve Electric Actuators Electric Actuators, valves spindles, drive nuts and valve lower seals are auxiliary components of the motor pump system that helps it to function properly. The sixteen pieces of these auxiliaries are to be placed in the floodgate or a penstock to control flow of water. The objective of this part of the repairs is to minimize water leakages and by extension ensure that purified or treated water does not mix with the untreated water. The replacement of these auxiliaries to the main treatment system should be done after every 5-6 months of operation. The hand held electric set up tool for the actuator will be supplied together with the sixteen auxiliaries. The operation and maintenances manual, the electrical and mechanical drawings as well as the design specification and justification report should be handed in to the Electrical department manager immediately after installation and commissioning of these components. The Electrical department manager shall also be responsible for these components once they are operational and handed over to the electrical department. Improvement communication and monitoring of the progress will be under the Electrical manager who will communicate through the internal memo on weekly basis to report on any improvement as a result of the installation of the new components as well us keeping truck of the progress to ensure timelines are adhered to. (Costa and Sepehri, n.d.) The budgetary implication of these parts of the plan will be medium. The finances will be obtained from the company and the total cost of these components will depend on the least quotation received from the bidders. The amount will vary reasonably with USD 1600 which is the combined retail cost of the components currently. (Jurgen, 1998) Below is the goal statement for this objective. Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, Installation and commissioning of 16 electric actuators, valve spindles, valve lower seals and drive nuts. Against (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 1300 (Mark appropriately Supply and installation of actuator hand held electronic set up tool. Against (RFQ) Electrical department manager One month after every 3 years Within USD 200 with regard to inflation within 3 years (Mark appropriately Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately) Back wash Inlet Valves and Pneumatic Actuators The pneumatic Actuators and back wash inlet valves are a set of equipments containing a motor that is operated or controlled by water or gas under pressure and gates that allow water to flow in a desired manner during the water treatment process. These set of equipments are to be replaced after every 3 years of service and take work should take a maximum of one month. The rational for this replacement is that new pneumatic actuators and valves will have higher efficiency and thus the company will reduce the cost of operation. This will help the course towards meeting the company objective of maintain high efficiency within her systems of operation. Thirty six pneumatic actuators and valves will be installed and commissioned. All the reports and manuals that are the design specification and justification, Electrical and Mechanical drawings, operation and maintenance manual, valve pressure test certification and sign off inspection should be handed over to the electrical department man ager upon completion of the work as stated in the request for quotation. The manager will be responsible for this work with regard to monitoring and plan progress, communicating improvements noted as a result of the installation to higher the management and sustaining the improvement efforts based on continuous mentoring of the performance of these items according to the company objectives and expected output levels. This will be capital intensive project and it will require a budget within the range of USD 3600 in three years time with reasonable factor of inflation. Below is the goal statement for this objective. (Kosenko et al., 2016) Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, Installation and commissioning of 36 pneumatic actuators and valves. Against (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 3600 with reasonable variance based on inflation in 3 years (Mark appropriately) Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately Air Scour valve Pneumatic Actuators The air scour valve pneumatic actuators are set of components comprised of motor driven by fluid that increases the efficiency of the filter in the backwash system. The rationale for this is that it will result to lower production cost in line with the company objective. This work includes supply, installation and commissioning of ten pneumatic actuators and handing over of the necessary documentation relating to the new equipments installed after every 3 years and the work itself takes a maximum of one month to complete. The electrical department manager will oversight the whole process including communication of improvements noted, monitoring plan progress, sustaining improvement efforts by documenting the performance of these machines. The budgetary allocation of this objective is medium and it will cost amount in the range of USD 500 subject to inflation rates in three years time. (Rubio et al., 2011)Below is the goal statement for this objective. Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, Installation and commissioning of 10 pneumatic actuators and valves. Against (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 500 with reasonable variance based on inflation in 3 years (Mark appropriately) Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately Back Wash Outlet Penstock Valve Electric Actuators The back wash outlet penstock valve actuators are a set of components which comprises a motor (actuator) that regulates the flow of water within various water treatment segments. Under this part 12 actuators will be replaced and fitted with hand held electronic actuator set up tools. This process will be done once after every 3 years and it will take a maximum period of one month to be completed. All the reports; specification design, operation and maintenances manual, drawings and signed off test results to be handed over to the electrical department manager immediately after completion of the exercise. The manager will be responsible for communicating any improvement as a result of the installation of the new equipments, monitoring the progress and sustaining the improvement efforts by drawing data on performance of the system vis a vis expected outcomes/performance. The budget scope will be within USD 600 subject to inflation rates at the time of implementation. (Louis, 2011) Belo w is the goal statement for this objective Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, Installation and commissioning of 12 actuators and valves. Against (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 600 with reasonable variance based on inflation in 3 years (Mark appropriately) Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately Pure Water Outlet Butterfly Valve Actuators Pure water outlet butterfly valve electronic actuators are set of components comprising a motor fitted with a rod with plates that rotates and controls the flow of water. These plates are prone to wear and tear and should be replaced after every 3 years of service. The plates loose their edges letting in more water than intended. The work involves replacing 6 actuators fitted with hand held actuator electric set up tool and handing over of all the reports as indicated in other objectives above. The Electrical department manager will be responsible for reporting on the progress made through internal memo and sustaining improvement efforts through periodic documentation of the system with regard to its expected outcome. (Wagner and Pinheiro, 2001) Below is the goal statement for this objective. Action Step Benchmark (Quality) Person Responsible Timeline Resources Needed Completed Supply, Installation and commissioning of 6 actuators and valves. Against (RFQ) specifications. Electrical department manager Replacements will take a month after every 3 years. Within USD 600 with reasonable variance based on inflation in 3 years (Mark appropriately) Supply of records laser alignments, drawings, manuals, design specification, inspection tests and bearing vibration. Against (RFQ) Electrical department manager One month after every 3 years Nil (Mark appropriately From the literature review the above mentioned components have a 3 years guarantee of optimal performance. This therefore provides for basis to replace them after end of the cycle. All the reports shall be signed off by the contractor in charge of the respective improvement plan. In conclusion the above objectives will ensure that Mt Crosby west water treatment plant will always be a reliable back up to Mt Crosby east water treatment plant and will further help the company realize its objectives without unseen hindrance. References Baker, R. and Newland, R. (2008). Continous quality improvement of perfusion practice: the role of electronic data collection and statistical control charts. Perfusion, 23(1), pp.7-16. Buzzi, R. (1992). Chemical hazards at water and wastewater treatment plants. Boca Raton, Fla.: Lewis Publishers. Costa, G. and Sepehri, N. (n.d.). Hydrostatic transmissions and actuators. Jurgen, R. (1998). Actuators. Warrendale, PA: Society of Automotive Engineers. Kosenko, S., Shurugin, A., Yudin, O. and Akimov, S. (2016). Improvement of the process maintenance of continous welded rails. Transport of the Urals, (2), pp.44-47. Louis, J. (2011). Control of synchronous motors. London: ISTE. Operation of wastewater treatment plants. (1976). Washington: Water Pollution Control Federation. Rubio, P., Notario, R., de la Cruz, J. and Ruiz, P. (2011). Continous quality improvement in a pediatric acute pain service (APS): An experience of 10 years. European Journal of Anaesthesiology, 28, p.148. Uchino, K. (1997). Piezoelectric actuators and ultrasonic motors. Boston: Kluwer Academic Publishers. Upgrading and retrofitting water and wastewater treatment plants. (2005). New York: McGraw-Hill. Wagner, E. and Pinheiro, R. (2001). Upgrading water treatment plants. London: Spon Press. Water treatment plant design. (1990). New York: McGraw-Hill.

Dual Coding Theory Essay Example

Dual Coding Theory Paper The mind can perform different kind of processes ranging from verbal up to non-verbal processing and other different processes. Performing different processes has made different studies on how our mind really works. However, since the mind is too complex to be the focus of a study, many researchers resorted to studying the processes that the human mind can perform. Theoretical Background Dual Coding Theory Dual Coding Theory (DCT) focuses on the verbal and the non-verbal processes of the human mind. DCT attempts to discuss how equal weights are given to both verbal and non-verbal mind processes. The human mind is able to deal with several processes while simultaneously dealing with another process. An instance is that when mind is dealing with language processing, it can also simultaneously deal with processing non-verbal objects and events. Dual Coding Theory gives light on how this process occur simultaneously (Paivio, 2008). Dual coding assumes that two cognitive subsystems exist. The two subsystems represent a specialized processing of non-verbal images and events and the other represents a specialized processing of language. The Dual Coding Theory is illustrated below. Coding Theory. The figure also shows the three important processes involved in Dual Coding Theory. From the figure, one can see the terms logogens and imagens. Paivio introduced logogens and imagens as two different types of representational units. Logogens is a representational unit for verbal entities. We will write a custom essay sample on Dual Coding Theory specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Dual Coding Theory specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Dual Coding Theory specifically for you FOR ONLY $16.38 $13.9/page Hire Writer While, imagens is a representational unit for mental images (Paivio, 2008). Dual Coding Theory involves three types of processes that occur in order. First is representational. In this process, the direct verbal and non-verbal representations were activated. Second is referential. Verbal system activation by non-verbal system and vice versa occurs in this process. Last process is associative processing. This process involves activation of representations by the same verbal and non-verbal systems (Paivio, 2008).

Blue Whales essays

Blue Whales essays The Blue whale is the largest creature of the sea, in fact, it is the largest creature known to man. Contrary to what most people think, even though Blue whales live in the sea, they are mammals. They breathe air, have their babies born alive and can live anywhere from 30 to 70 years. The Blue whale is a baleen whale, and instead of having teeth, Blue whales have around 300-400 baleen plates in their mouths. They fall under the category of the rorquals, which are the largest of the baleen family. The scientific name of the Blue whale is, Balsenoptera musculus. Key Words: Balaenoptera musculus, Suborder Mysticeti, balaenoptera intermedia, balaenoptera brevicauds, baleen whale, rorqual, calf, sulfur bottom, Sibbalds Rorqual, Great Northern Rorqual, gulpers, blowholes, blubber, oil, keratin, krill, copepods, plankton, orcas, endangered Whales are separated into two groups, the baleen and the toothed whales. The blue whale is the largest baleen whale and the largest animal that ever lived on Earth, including the largest dinosaurs. Baleen are rows of coarse, bristle-like fibers used to strain plankton from the water. Baleen is made of keratin, the same material as our fingernails. They live in pods, the have two blowholes. The blue whale has a 2-14 inch (5-30cm) thick layer of blubber. Blue whales (Balaenoptera musculus) are baleen whales (Suborder Mysticeti). They are one of 76 species and are marine mammals. The Blue whale is called a rorqual, a Norwegian word for furrow referring to the pleated grooves running from its chin to its naval. The pleated throat grooves allow the Blue whales throat to expand during the huge intake of water during filter feeding; they can hold 1,000 tons or more of food and water when fully expanded (Small 1971). Blue whales have 50-70 throat grooves. Blue whales grow up to about 80 feet (25m) long on average, weighing about 120 tons. Th...

Why television is bad for society Essay Example | Topics and Well Written Essays - 500 words

Why television is bad for society - Essay Example Obesity has also been attributed to television. In most households, the TV is on all the time. The only time that it is turned off is when the family goes to sleep. Therefore, children lack physical exercise from staying indoors. However, parents are also to blame as they at times use television as a babysitter. This creates an opportunity for children to watch any program they wish to regardless of its content (Evans 15). Parents tend not to monitor what their children are watching as they are too busy with work. Nevertheless, parents should take advantage of the parental control button and use it so as to shield their children from the negative influences in the adult rated programs. Children who watch more television end up being aggressive and violent. They are seen to act out what they see in television (Beretta & Smith 48). These has caused some teenagers to take drastic measures as carrying guns to school and end up shooting classmates that they did not like, or one they had a disagreement with. Violence is the biggest vice that has been picked up from watching too much television. The languages picked up from the programs aired are also very vulgar and rude. The solution to this is for parents to reduce the amount of time spent watching television in a day to two hours, preferably in the evening when parents are home from work.

A business's only responsibility is to produce profit. To what Essay

A business's only responsibility is to produce profit. To what extent do you agree with this statement - Essay Example 15). A business should maximize on value rather than profits as explained by Blodget (2012). Involvement in CRS is expensive but it has a high long-term advantage to the business. Providing incentives to employees is not a waste of resources by the management. Considering the workers welfare is important to boost the morale of employees. Employees, if well motivate, perform high-quality tasks that can attract more customers, rewarding to the stakeholders and so make the business sustainable. It may even draw new employees with a high level of skills. On the other hand, failure to consider employees’ welfare results to unique situations that may scare other stakeholders from associating with the business. Besides, it is important for the business to consider environmental obligations as they do production. Environment conservation policies benefit humans. For instance, the regulations aim to reduce pollutants to the environment. Every country or trade region has it set regulations on environmental factors that businesses should consider in its operations. Failure to consider the rules in its operations, the business is likely to face criticism. Further, it may influence smooth functioning of the business and its profitability. An example is the case of Coca-Cola Company’s failure to ensure standards set by the America’s Environment Protection Agency. Early in the 2000’s, failure to consider strict environmental policy threatened the Coca-Cola Company. The company used non-environmental friendly plastic bottles, for a long time the company was on poor terms with the government or the U.S.A. Though it may be expensive for the business to adhere to the regulations, they are very critical for the sustainability of the enterprise and survival of other sectors of the economy. Adhering to the CSR is important to keep a good relationship with the stakeholders and so for the

The edge, by Dick Francis Essay Example for Free

The edge, by Dick Francis Essay Unlike with the setting, dialogue makes the theme or value come across easier because it can be said straight out rather than the viewer have to analyse the setting to find out. Although the theme or value can be shown easier, there is more to the dialogue than just the words. The way it is spoken can get it across stronger because it may have the ability to make the viewer sit up and listen and realise what the character is saying straight away. For example, in the scene where Peter is confronted by the man who killed his friend and former partner, the man says you wont kill me. Blokes like you need a reason and Peter replies very strongly saying Ive got a reason. and his name is Oscar Stone!! It comes across to the viewers very strongly that Peter is committed to not only the revenge of his friend, but also to ridding corruption from society. These three techniques work well together to set the viewers mind and thoughts to show them that the characters in the text are committed to the themes or values that are trying to be brought across. They convince the viewers that the text has meaning, so the viewers are more willing to believe and support the text. Journal B Novel Analysis: The Edge, Dick Francis Dick Francis The Edge explores the life of Torquil Kelsey, an undercover operative for a Jockey Club in England. Torquil is assigned to be the invisible needle in the haystack. He wonders around the racecourses like any other racegoer, but in doing so, listens in and explores all business that goes on inside the courses. His main objective is to rid racing of one of its notorious villains, the successful but dodgy Julius Apollo Filmer. For months the Jockey Club have been trying to find some dirt, any dirt, on Filmer and have so far been unsuccessful. Torquil later takes a train ride in which Filmer will also be on. Torquil knows all too well that Filmer will be up to something. Filmer is later found guilty of paying someone to sabotage the train ride and Filmer himself of wilfully attempting to kill Daffodil Quentins horse. Torquil Kelsey: Torquil, or Tor as some characters call him as a nickname, is an undercover operative for an English Jockey Club. He has been assigned to go from course to course and find out any illegal deals going on. He has an inquisitive nature. Being an undercover operative, he has the ability to be in a crowd without being noticed. He is very cluey. He can guess that certain things are going to happen before they do. Hes your typical good guy. Hes not the mean cop who beats people up to get information. He has the good guy charm with women. Julius Apollo Filmer: Filmer is the major racehorse owner around the area that the Jockey Club operates in. They have tried to get him warned off the course in the past but have never caught him. He is smart and smug. He never does his tasks evil deeds himself; he will always have a hired goon to do his work. He always has some evil deed planed out in his mind and does whatever he can do complete it. He associates with dodgy people, such as Daffodil Quentin. Themes The main themes of this novel are based around the triumph of good versus evil. Its really your typical police story. Police get a suspicion that the bad guy is going to do something evil, police try catch the bad guy doing it, police do a lot of investigating, bad guy eventually gets caught. Beliefs One major belief that I got out of this text was that the world should be rid of corruption. The aim of Torquil Kelsey is to rid the racing world of Julius Apollo Filmer and inturn ridding the racing world of the corruption he brings. Oral Task Based On Novel I believe the target audience of this novel is probably adults. Although I enjoyed reading it myself, I think the majority of the readers will be older. Also, the novel, like most other Dick Francis novels, has an element to do with horseracing, so this may also appeal to anyone interested in horseracing. If this interview were real, it would probably be broadcast on an AM radio station such as 720, which the station itself is aimed at the older part of society. The tape of this interview will be included with the rest of this assignment. Transcript Presenter: Im privileged to have a great author in the studio with me now. He has written such books as Smokescreen, Risk and High Stakes just to name a few. He is in Australia to promote his new novel The Edge. Good Afternoon, Dick Francis. Francis: Thankyou. Its great to be here. Presenter: So, your new novel The Edge. It has just been released here. How do you expect it will sell? Francis: Well I certainly hope it will sell very well. I have worked long and hard perfecting it. Presenter: I recently read this novel in preparation for this interview. I thought it to be a very good read. Me being 36, is that the age of audience you were intending this novel to be aimed at? Francis: Yes, thats about what I was thinking. Its definitely too complex for anyone below maybe 16, but middle school onwards was the target. Its really a matter of choice though. No matter what age you are, if youre just not into crime novels, which this novel is, then you just wont like it. Presenter: Yes. Now on that, would you like to fill our listeners in on the plot of this novel? Francis: Certainly. The Edge is about a young man named Torquil Kelsey working as an undercover operative for an English Jockey Club. He is required to be the invisible needle in the haystack if you like. He must roam around various racecourses in England and investigate any odd activities that take place and any odd characters to go with it. His main target is a villain named Julius Apollo Filmer. Filmer is a leader of corruption amongst the racing world. He is a bit like a King of Evil. He never completes his dirty deeds himself, but gets hired goons to complete them for him. He is in suspicion of a number of offences, so it is Torquils task to nail Filmer. He gets his best opportunity on a racegoers train around Canada, which Filmer is attending. Ill stop there as to not ruin the story for anyone by giving too many details. Presenter: Thats probably a good idea. You were formally a jockey before you turned to writing. Are any of the characters in the novel based on people youve come across in your time as a jockey? Francis: There is always a certain amount of truth involved in some parts of every novel, but nothing is an exact copy of the truth. Presenter: Tell us about our two main characters. Torquil the hero and Julius the villain. Francis: Well, Torquil has been brought up by his Aunt Viv, an avid racegoer. He has always been associated with horses and horse racing since he was a wee boy, so his knowledge of horses has helped him with is job around the racetracks. He is very inquisitive, very cluey, is able to spot things that most people would simply turn a blind eye to. He is a charmer also. Very good with the ladies. Julius is your typical villain. Seems fine on the outside, but you know that on the inside, theres evil brewing and his mind is devising a plan. He is an evil mastermind. Has the ability to devise the plans, but will never execute them himself. He must keep a clean look with the public otherwise his plans will be given away, so the hired goon is his way of going about getting that done. Presenter: I found it interesting to note that you always made the story continuos. You would rarely jump from scene to scene, instead you always describe exactly where your characters where going. I recall a part where Torquil must go from one end of the train to the other, and you describe exactly where he is walking, instead of just jumping straight to where he was heading to with a new paragraph. Was this deliberate? Francis: Yes, I believe that you must be very descriptive when writing a novel. Its not like a film where you can show viewers visually, so you must describe the exact surrounding very thoroughly. I find that if you jump straight to it, you can sometimes confuse readers and miss important details of the surroundings. Presenter: Well, thankyou Dick. I hope all goes well with the release of the novel and Ill look forward to reading more of your future novels. Francis: Thankyou Journal C I received a very insightful view into the industry of undercover policing after studying both the texts I chose. They showed a set of values that I had never really dwelled on before. The triumph of good over evil is something I am regularly exposed to, but ridding the world of corruption and the reasons for doing so had never really been considered. I realised from these texts that corruption in any industry can ruin the industry completely for society if untreated. The racing industry for instance, I was shown in The Edge that if the villain Julius Apollo Filmer had gone on with his evil deeds forever without anyone ever even trying to stop him, he would have eventually taken control of that industry and injected so much corruption into it that the public would eventually lose out. For example, if he had taken control of every horse in some way, he would be able to dictate races and the public would lose in some way or another. These texts both support my views and in some ways support them more than I do. A majority of the people in society would not support corruption of any form and I am no different, but it never really meant much to me. I support the views of the texts but I have never realised the effects corruption can have until I studied these texts. Like the texts, I believe corruption should be stopped at all costs. I would hate to be in a society where things can happen like they did in Stingers. If the chief of a police unit was corrupt and letting crime go and even going to the extent of helping the crimes be committed, then I would be horrified because I put my trust in that unit only to find out it is supporting the things it is supposed to be protecting me from. I support the view of good triumphing over evil. To drop this view down to an example at my level, it would have to be bullying in schools. It always brings a smile to my face when I see a bully getting what he deserves in return for his wicked deeds he has performed on an innocent student. Another example of this would be in a game of football. When an opponent tries to pull off an illegal move on someone but cant fool the umpire, it is always rewarding to see the player who was doing the right thing get rewarded the free kick. In The Edge, it was rewarding when I read at the end that Julius Apollo Filmer is caught and convicted of his crimes after the determination of Torquil Kelsey to find that last ounce of information that would put Filmer away. So I very much support all values identified in these texts. The episode of Stingers that I refer to in my studies is not a complete story. It just focuses on part of an ongoing story that has continued from previous episodes, so the villains have not yet been caught. I enjoyed studying these texts, because they challenged and changed my views. Although they didnt have a different view to what I already had, they allowed me to explore the views with more depth than I had before.

Strong Penelope of Homers Odyssey Essay -- Homer, Odyssey Essays

The Strong Penelope of The Odyssey "My lady, there is no man in the wide world who could find fault with you. For your fame has reached broad heaven itself, like that of some illustrious king."(Page 289,Book 19) In Homer's epic, The Odyssey, Odysseus is an epic hero with an epic wife, Penelope. Penelope is also the Queen of Ithaca, a vital role indeed. Penelope's love and devotion towards Odysseus is proven when she waits nineteen years for her husband to return from the wine dark sea, rather than losing faith and marrying another man. Penelope's character is strong and solid, and her personality remains consistent throughout Homer's Odyssey. Since there are so few mortal women featured in The Odyssey, Penelope can be seen as an ideal figure to represent all noblewomen in the Greek world. Although women were seen as possessions they could still be highly respected and influential in society. This is shown very effectively in this quote by Antinous as he speaks about Penelope, "Her skill in fine handicraft, her excellent brain, and the genius she has for getting her way, In that respect, I gra... ...en Skylla and Penelope: Female Characters of the Odyssey in Archaic and Classical Greek Art," pp. 29-58. Richard Brilliant, "Kirke's Men: Swine and Sweethearts," pp. 165-73. Helene Foley, "Penelope as Moral Agent," in Beth Cohen, ed., The Distaff Side (Oxford 1995), pp. 93-115. Homer. The Odyssey. Trans. Robert Fitzgerald. New York: Vintage Books, 1989. Marilyn Arthur Katz, Penelope's Renown: Meaning and Indeterminacy in the Odyssey (Princeton 1991). Nancy Felson-Rubin, Regarding Penelope: From Courtship to Poetics (Princeton 1994). Strong Penelope of Homer's Odyssey Essay -- Homer, Odyssey Essays The Strong Penelope of The Odyssey "My lady, there is no man in the wide world who could find fault with you. For your fame has reached broad heaven itself, like that of some illustrious king."(Page 289,Book 19) In Homer's epic, The Odyssey, Odysseus is an epic hero with an epic wife, Penelope. Penelope is also the Queen of Ithaca, a vital role indeed. Penelope's love and devotion towards Odysseus is proven when she waits nineteen years for her husband to return from the wine dark sea, rather than losing faith and marrying another man. Penelope's character is strong and solid, and her personality remains consistent throughout Homer's Odyssey. Since there are so few mortal women featured in The Odyssey, Penelope can be seen as an ideal figure to represent all noblewomen in the Greek world. Although women were seen as possessions they could still be highly respected and influential in society. This is shown very effectively in this quote by Antinous as he speaks about Penelope, "Her skill in fine handicraft, her excellent brain, and the genius she has for getting her way, In that respect, I gra... ...en Skylla and Penelope: Female Characters of the Odyssey in Archaic and Classical Greek Art," pp. 29-58. Richard Brilliant, "Kirke's Men: Swine and Sweethearts," pp. 165-73. Helene Foley, "Penelope as Moral Agent," in Beth Cohen, ed., The Distaff Side (Oxford 1995), pp. 93-115. Homer. The Odyssey. Trans. Robert Fitzgerald. New York: Vintage Books, 1989. Marilyn Arthur Katz, Penelope's Renown: Meaning and Indeterminacy in the Odyssey (Princeton 1991). Nancy Felson-Rubin, Regarding Penelope: From Courtship to Poetics (Princeton 1994).

Causes Of Global Financial Crisis Economics Essay

About every corporate, company and person in this universe is good cognizant with the term Global Financial Crisis. However, there are several grounds for the causes of current fiscal causes and Global economic downswing. This assignment will be concentrating on few cardinal causes that led to the downswing of planetary economic system and brought a ne'er seen fiscal crisis state of affairs across the universe. Banks, companies, corporate, Multinational companies all felt quarries to it. United States and U.K and other few developed states majorly, witnessed the worst of the crisis and are still seeking difficult to retrieve from it. The 1990s and 2000s saw a planetary moving ridge of bad investing in fiscal assets and land, and the rise of the belongings developer as the key participant in urban development. US economic system went into problem in late 2007 when lifting trade good monetary values combined with the subprime mortgage crisis and finally triggered recession. In the background of fiscal crisis in US which started in 2007, the existent estate sector continued to bloom and give good returns to the investors. Banks and fiscal establishments seeing this as an chance reduced involvement rates and made mortgages easy available to common people. As a consequence many people bought houses for investing and made usage of easy recognition installations and mortgages. Fall of lodging monetary values and lifting involvement rates triggered mortgages refinancing jobs as investors found trouble in returning the involvement every bit good chief. This caused monolithic losingss for loaners and prostration of some Ba nkss and broader liquidness jobs in fiscal sector. ( Bunkley, N. , 2008 ) . Hamilton and Kim ( 2002 ) province that today the passage to post industrialism is about complete in the United States, as agribusiness and fabrication history for less than 10 % of the entire labour force ( and that per centum continues to fall ) . The twenty-first century has seen acceleration in this tendency: Between December 2000 and May 2009, the United States lost 5.25 million fabrication occupations, or more than 30 % . Securitization turned broad during the 1990s, driven by demand from institutional investors seeking mercantile establishments for their money, bringings from Bankss that got paid by the dealing and information engineering that enabled the rating of cryptic instruments. From place mortgages to car loans to recognition card receivables and concern loans, about everything with an income watercourse seemed to stop up as a bond, and the bond market enormously outstripped the stock market in value ( Pleven & A ; Silverman, 2007 ) . Large graduated table employers that provided occupation security, calling mobility through occupation ladders, and generous wellness and retirement benefits seem to hold been artifacts of the corporate industrial age in the United States and the United Kingdom. Many of the so called academy employers have explicitly renounced the former patterns that tied employees to their houses, through stop deading company pensions and phasing out retiree wellness benefits. General Motors, for case, notified its white-collar retired persons in July 2008 that in the New Year they and their dependants would no longer be covered by GM-financed private wellness insurance because it had become excessively dearly-won. Alternatively, they would be compensated with a $ 300 addition in their monthly pension cheques ( Bunkley, 2008 ) . Harmonizing to Ahrens ( 2002 ) , the crisis which proceeded this recession was by historical criterions barely a roar at all. The net growing in planetary employment in the 1990s and 2000s came near to zero, while mean GDP per capita really fell. Underemployment and concealed unemployment became common. Almost half of the universe ‘s occupations were classified by the International Labour Organisation as insecure. Defined-benefit programs provided employees strong inducements to pass their callings with peculiar employers. With the coming of the 401 ( K ) in the early 1980s, nevertheless, the big bulk of employers that still provided pensions began a displacement toward funding comparatively portable programs in which employees and houses both contribute to an separately owned pension that can be rolled over if the employee alterations occupations. These â€Å" defined-contribution † programs efficaciously transferred hazard from employers to workers, who were now respon sible for doing reasonable investing picks on their ain behalf from among the options offered by their employer ( Cobb, 2008 ; Hacker, 2006 ) . Although employers were motivated in portion by cost considerations, the consequence was to loosen the ties that bound employees to houses, farther reenforcing the tendencies described in the old subdivision. While the planetary economic system is demoing cautious marks of healing, hapless states are still enduring the effects of the world-wide depression and the nutrient, fuel and fiscal crises, which hit over the last two old ages. The poorest states will necessitate extra aid to travel in front of the planetary depression. states like UK, US can play a cardinal function in assisting to heighten international demand to bear planetary resurgence, but they will necessitate entryway to funding for old ages to come. The World Bank is working for a Crisis Response Facility to guarantee that rapid and helpful support can be provided to most incapacitated hapless states following dazes. Failure to cover with this demand could endanger the development achieved in many hapless states based on recent strong development attempts, and alternatively take to dearly-won reversals. ( Kotlan, V. , 2002 ) The positive side of recession is that it will convey new demands for be aftering to make what it has ever presented itself as making protecting the demands of ordinary people instead than privileged minorities, the populace instead than the private involvement, the hereafter instead than the present. New societal forces will impact on the behavior of contrivers and on be aftering results. And the recession will supply plentifulness of chances for these new forces to concentrate around and capitalize on ( Peel and Ioannidis, 2003 ) . No surprises so that some are already take a firm standing that the solution to the crisis is to work even harder at ‘Competitiveness ‘ than earlier. The old order, rational and institutional, will hang on every bit long as there are no possible options ( Andreou, et. Al, 2000 ) . For illustration, there will be no deficit of potentially utile infinite in the center of metropoliss everyplace. Already many authoritiess have targeted societal lodging and green substructure as the urban avenues through which to supply the necessary Keynesian injection to reconstruct macroeconomic stableness. The Obama disposal ‘s accent on environmental utilizations of the new public support raises the possibility of a turning consensus in favor of a Green New Deal within which the urban will be the cardinal graduated table in the United States. All of these will hold profound deductions for Planning ( Peel and Ioannidis, 2003 ) . Encourage nest eggs among the consumer base by increasing involvement rates so that consumers do non impart to a great extent on borrowing for their nutriment and stop up losing their net incomes on involvement or in the procedure of repossession of belongings and earning by Bankss which have lent them money earlier ( Davis, 2009 ) . To make this in a hazard free mode, recognition cheques should be made rigorous and incentive options should be given to people who maintain their evaluations therefore doing it a reciprocally organized attempt and non a exclusive run by the Government to cut down debitors in their state. In the capitalist universe in which we live the most of import influence on wellness and felicity at both the person and corporate degree is the handiness of occupations. In the new context of planetary recession, Kotlan ( 2002 ) argues the ILO has hence proposed that public policy should be readjusted to concentrate on low C employment intensive poorness cut downing growing. If planning is to repossess any credibleness as a concern devoted to societal betterment and environmental endurance it must set consequently. This implies a really different sort of planning, and contriver, from that of the recent yesteryear. In the immediate hereafter this would look to necessitate two new accents. First, cardinal strategic topographic point must be given to the end of maximizing local economic public assistance. Improved employment chances and a fairer distribution of incomes should go the premier mark of planning at all spacial graduated tables. Without this none of the other benign possibilities of be aftering base much opportunity of being realised. To be programmatic about it, the nucleus of planning at the urban and regional degree should be an expressed foundational Labour Market scheme to reconstruct and prolong an inclusive local labor market, as the UK All Party Urban Development Group has acknowledged, even if in mode that is already out of day of the month. The implicit in rule should be to maximize the sustainable employment impact of public disbursement and land usage ( Andreou, et. Al, 2000 ) . But this will merely impact those who get occupations. So, secondly, schemes should be developed to understate the negative effects of unemployment and low or insecure incomes by beef uping community resources and non-market chances. Bettering societal protection is an pressing precedence. There are many lessons of local authorities responses to earlier recessions and experiences around the universe that should be re-examined. Planners will hold to take on board a whole new universe of demands and responses.

Financial Reporting Standards - Free Essay Example

Sample details Pages: 26 Words: 7687 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? Financial Reporting Standards International Financial Reporting Standards Intr?ducti?n Int?rn?ti?n?l Fin?nci?l R?p?rting ?t?nd?rd? (IFR?) ?r? m?r? r?c?ntly ud n?w which r?f?r? t? th?n n?w numb?r?d ri ?f pr?n?unc?m?nt? th?t th? IB i? iuing, di?tinct fr?m th? Int?rn?ti?n?l ?cc?unting ?t?nd?rd? ri iu?d by it? pr?d?cr. Brdly IFR? r?f?r? t? th? ?ntir? b?dy ?f IB pr?n?unc?m?nt?, including ?t?nd?rd? ?nd int?rpr?t?ti?n? ?ppr?v?d by th? IB ?nd I ?nd ?IC int?rpr?t?ti?n? ?ppr?v?d by th? pr?d?cr, Int?rn?ti?n?l ?cc?unting ?t?nd?rd C?mmitt. Und?r th? Int?rn?ti?n?l ?cc?unting ?t?nd?rd? (I) R?gul?ti?n, li?t?d c?mp?ni mu?t pr?p?r? c?nlid?t?d fin?nci?l ?t?t?m?nt? ?r individu?l fin?nci?l ?t?t?m?nt? if th?y ?r? n?t pr?p?ring c?nlid?t?d fin?nci?l ?t?t?m?nt? f?r fin?nci?l yr? c?mm?ncing ?n ?r ?ft?r J?nu?ry 1 2005, in ?cc?rd?nc? with I/IFR? (Int?rn?ti?n?l Fin?nci?l R?p?rting ?t?nd?rd?). Don’t waste time! Our writers will create an original "Financial Reporting Standards" essay for you Create order I 27 C?nlid?t?d ?nd p?r?t? Fin?nci?l ?t?t?m?nt? Th? ?bj?ctiv? ?f I 27 i? t? ?nh?nc? th? r?l?v?nc?, r?li?bility ?nd c?mp?r?bility ?f th? inf?rm?ti?n th?t ? p?r?nt ?ntity pr?vid in it? p?r?t? fin?nci?l ?t?t?m?nt? ?nd in it? c?nlid?t?d fin?nci?l ?t?t?m?nt? f?r ? gr?up ?f ?ntiti und?r it? c?ntr?l. Th? ?t?nd?rd ?p?cifi (Thompson, S., Murray, A, 2005): (a) Th? circum?t?nc in which ?n ?ntity mu?t c?nlid?t? th? fin?nci?l ?t?t?m?nt? ?f ?n?th?r ?ntity (b?ing ? ?ub?idi?ry); (b) Th? ?cc?unting f?r ch?ng in th? l?v?l ?f ?wn?r?hip int?rt in ? ?ub?idi?ry; (c) Th? ?cc?unting f?r th? l ?f c?ntr?l ?f ? ?ub?idi?ry; ?nd (d) Th? inf?rm?ti?n th?t ?n ?ntity mu?t di?cl t? ?n?bl? ur? ?f th? fin?nci?l ?t?t?m?nt? t? ?v?lu?t? th? n?tur? ?f th? r?l?ti?n?hip b?twn th? ?ntity ?nd it? ?ub?idi?ri. C?nlid?t?d fin?nci?l ?t?t?m?nt? ?r? th? fin?nci?l ?t?t?m?nt? ?f ? gr?up prnt?d th ?f ? ?ingl? ?c?n?mic ?ntity. ? gr?up i? ? p?r?nt ?nd ?ll it? ?ub?idi?ri. ? ?ub?idi?ry i? ?n ?ntity, including ?n uninc?rp?r?t?d ?ntity ?uch ? p?rtn?r?hip th?t i? c?ntr? ll?d by ?n?th?r ?ntity (kn?wn th? p?r?nt). C?ntr?l i? th? p?w?r t? g?v?rn th? fin?nci?l ?nd ?p?r?ting p?lici ?f ?n ?ntity t? ?bt?in b?n?fit? fr?m it? ?ctiviti (Teixeira, A., Pickens, D., 2005). ? p?r?nt mu?t c?nlid?t? it? invtm?nt? in ?ub?idi?ri. Th?r? i? ? limit?d ?xc?pti?n ?v?il?bl? t? m? n?npublic ?ntiti. H?w?v?r, th?t ?xc?pti?n d n?t r?li?v? v?ntur? c?pit?l ?rg?niti?n?, mutu?l fund?, unit tru?t? ?nd ?imil?r ?ntiti fr?m c?nlid?ting th?ir ?ub?idi?ri. ? gr?up mu?t u unif?rm ?cc?unting p?lici f?r r?p?rting lik? tr?ncti?n? ?nd ?th?r ?v?nt? in ?imil?r circum?t?nc. Th? c?nqu?nc ?f tr?ncti?n?, ?nd b?l?nc, b?twn ?ntiti within th? gr?up mu?t b? ?limin?t?d. In pr?p?ring c?nlid?t?d fin?nci?l ?t?t?m?nt?, ?n ?ntity c?mbin th? fin?nci?l ?t?t?m?nt? ?f th? p?r?nt ?nd it? ?ub?idi?ri lin? by lin? by ?dding t?g?th?r lik? it?m? ?f t?, li?biliti, ?quity, inc?m? ?nd ?xp?n. In ?rd?r th?t th? c?nlid?t?d fin?nci?l ?t?t?m?nt? prnt fin?nci?l inf?rm?ti?n ?b?ut th? gr?up th?t ?f ? ?ingl? ?c?n?mic ?ntity, th? f?ll?wing ?t?p? ?r? th?n t?k?n (Manchester, P., 2004): * Th? c?rrying ?m?unt ?f th? p?r?nt? invtm?nt in ch ?ub?idi?ry ?nd th? p?r?nt? p?rti?n ?f ?quity ?f ch ?ub?idi?ry ?r? ?limin?t?d ( IFR? 3, which dcrib th? trtm?nt ?f ?ny rult?nt gdwill); * N?n-c?ntr?lling int?rt? in th? pr?fit ?r l ?f c?nlid?t?d ?ub?idi?ri f?r th? r?p?rting p?ri?d ?r? id?ntifi?d; ?nd * N?n-c?ntr?lling int?rt? in th? n?t t? ?f c?nlid?t?d ?ub?idi?ri ?r? id?ntifi?d p?r?t?ly fr?m th? p?r?nt? ?wn?r?hip int?rt? in th?m. N?n-c?ntr?lling int?rt? in th? n?t t? c?n?i?t ?f: * Th? ?m?unt ?f th n?n-c?ntr?lling int?rt? ?t th? d?t? ?f th? ?rigin?l c?mbin?ti?n c?lcul?t?d in ?cc?rd?nc? with IFR? 3; ?nd * Th? n?n-c?ntr?lling int?rt? ?h?r? ?f ch?ng in ?quity ?inc? th? d?t? ?f th? c?mbin?ti?n. N?n-c?ntr?lling int?rt? N?n-c?ntr?lling int?rt? mu?t b? prnt?d in th? c?nlid?t?d ?t?t?m?nt ?f fin?nci?l piti?n within ?quity, p?r?t?ly fr?m th? ?quity ?f th? ?wn?r? ?f th? p?r?nt. T?t?l c?mpr?h?n?iv? inc?m? mu?t b? ?ttribut?d t? th? ?wn?r? ?f th? p?r?nt ?nd t? th? n?n-c?ntr?lling int?rt? ?v?n if thi? rult? in th? n?n-c?ntr?lling int?rt? h?ving ? d?ficit b?l?nc? (Killgren, L., 2005). Ch?ng in th? ?wn?r?hip int?rt? Ch?ng in ? p?r?nt? ?wn?r?hip int?rt in ? ?ub?idi?ry th?t d? n?t rult in th? l ?f c?ntr?l ?r? ?cc?unt?d f?r within ?quity. Wh?n ?n ?ntity l c?ntr?l ?f ? ?ub?idi?ry it d?r?c?gni th? t? ?nd li?biliti ?nd r?l?t?d ?quity c?mp?n?nt? ?f th? f?rm?r ?ub?idi?ry. ?ny g?in ?r l i? r?c?gnid in pr?fit ?r l. ?ny invtm?nt r?t?in?d in th? f?rm?r ?ub?idi?ry i? mur?d ?t it? f?ir v?lu? ?t th? d?t? wh?n c?ntr?l i? lt. p?r?t? fin?nci?l ?t?t?m?nt? Wh?n ?n ?ntity ?l?ct?, ?r i? r?quir?d by l?c?l r?gul?ti?n?, t? prnt p?r?t? fin?nci?l ?t?t?m?nt?, invtm?nt? in ?ub?idi?ri, j?intly c?ntr?ll?d ?ntiti ?nd ci?t mu?t b? ?cc?unt?d f?r ?t ct ?r in ?cc?rd?nc? with I 39 Fin?nci?l In?trum?nt?: R?c?gniti?n ?nd Mur?m?nt. Di?clur? ?n ?ntity mu?t di?cl inf?rm?ti?n ?b?ut th? n?tur? ?f th? r?l?ti?n?hip b?twn th? p?r?nt ?ntity ?nd it? ?ub?idi?ri. ? bu?in c?mbin?ti?n i? th? bringing t?g?th?r ?f p?r?t? ?ntiti ?r bu?in int? ?n? r?p?rting ?ntity. ? bu?in c?mbin?ti?n m?y b? ?tructur?d in ? v?ri?ty ?f w?y? f?r t?x, l?g?l ?r ?th?r rn?. In ?ll bu?in c?mbin?ti?n?, ?n ?cquir?r h t? b? id?ntifi?d f?r ?cc?unting purp. Th? ?cquir?r will b? th? ?ntity th?t h ?bt?in?d c?ntr?l ?f ?n? ?r m?r? ?th?r ?ntiti ?r bu?in (th? ?cquir). C?ntr?l i? d?fin?d th? p?w?r t? g?v?rn th? fin?nci?l ?nd ?p?r?ting p?lici ?f ?n ?ntity ?r bu?in t? ?bt?in b?n?fit? fr?m it? ?ctiviti. ? numb?r ?f f?ct?r? m?y influ?nc? which ?ntity h c?ntr?l. Th includ? ?quity ?h?r?h?lding, c?ntr?l ?f th? brd ?nd c?ntr?l ?grm?nt?. If ?n ?ntity ?wn? m?r? th?n 50 p?r c?nt ?f th? ?quity ?h?r?h?lding in ?n?th?r ?ntity, th?r? i? ? prumpti?n ?f c?ntr?l (Kentouris, C., 2005). Th? ?cquir?r mur th? ct ?f th? c?mbin?ti?n ?t th? ?cqui?iti?n d?t? (th? d?t? ?n which it ?bt?in ? c?ntr?l ?v?r th? n?t t? ?f th? ?cquir). Th? ct ?f th? c?mbin?ti?n includ ch ?nd ch ?quiv?l?nt? ?nd th? f?ir v?lu? ?f ?ny n?n-ch c?n?id?r?ti?n giv?n, plu? ?ny ct? dir?ctly ?ttribut?bl? t? th? ?cqui?iti?n. ?ny ?h?r iu?d p?rt ?f th? c?n?id?r?ti?n ?r? f?ir v?lu?d. Th? m?rk?t v?lu? ?f ?h?r i? ud ?vid?nc? ?f th? f?ir v?lu?. If ?ny ?f th? c?n?id?r?ti?n i? d?f?rr?d, it i? di?c?unt?d t? r?fl?ct it? prnt v?lu? ?t th? ?cqui?iti?n d?t? (Jobson, B., 2004). ? p?rti?n ?f th? c?n?id?r?ti?n m?y b? c?nting?nt ?n th? ?utc?m? ?f futur? ?v?nt? ?r th? ?cquir?d ?ntity? p?rf?rm?nc? (‘c?nting?nt c?n?id?r?ti?n). C?nting?nt c?n?id?r?ti?n th?t c?n b? r?li?bly tim?t?d ?nd wh?r? p?ym?nt i? pr?b?bl? i? r?c?rd?d in full ?t th? d?t? ?f th? bu?in c?mbin?ti?n. C?nting?nt c?n?id?r?ti?n i? ?dju?t?d t? r?fl?ct th? ?ctu?l ?utc?m?. ?nc? th? ct ?f c?n?id?r?ti?n i? t?bli?h?d, it i? c?mp?r?d t? th? f?ir v?lu? ?f th? ?cquir id?ntifi?bl? t? (including int?ngibl? t? n?t pr?vi?u?ly r?c?gnid), li?biliti ?nd c?ntin g?nt li?biliti. Th? ?cquir t? ?nd li?biliti ?r? f?ir v?lu?d (th?t i?, th?ir v?lu? i? d?t?rmin?d by r?f?r?nc? t? ?n ?rm? l?ngth tr?ncti?n th? int?nti?n ?f th? ?cquir?r i? n?t r?l?v?nt). If th? ?cqui?iti?n i? f?r l th?n 100 p?r c?nt ?f th? ?cquir, th?r? i? ? min?rity int?rt (?l c?ll?d ‘n?n-c?ntr?lling int?rt). Th? min?rity int?rt r?prnt? th? p?rti?n ?f th? f?ir v?lu? ?f th? n?t id?ntifi?bl? t? ?f ?n ?ntity n?t ?wn?d by th? ?ntity th?t c?ntr?l? it. Th? diff?r?nc? b?twn th? ct ?f ?cqui?iti?n ?nd th? f?ir v?lu? ?f th? id?ntifi?bl? t? ?nd li?biliti r?prnt? gdwill. ?ft?r r?c?gnizing ?ll int?ngibl, th? gdwill b?l?nc? r?prnt? ?yn?rgi ?nd c?rt?in unr?c?gniz?d int?ngibl ?uch th? ?ntity? w?rkf?rc?. Gdwill i? r?c?gniz?d ?n int?ngibl? t ?nd tt?d ?nnu?lly f?r imp?irm?nt. If th? f?ir v?lu? ?f th? t? ?nd li?biliti ?cquir?d ?xcd? th? ct ?f ?cqui?iti?n, thi? diff?r?nc? i? t?k?n t? th? inc?m? ?t?t?m?nt. Thi? w?uld b? ?xp?ct?d t? ?ccur ?nly in r?r? circum?t?nc f?r ?x?mpl?, wh?r? th?r? h bn ? b?rg?in purch (Fuller, 2005). ?cc?unting f?r Invtm?nt in ci?t In it? c?nlid?t?d fin?nci?l ?t?t?m?nt?, ?n invt?r ?h?uld u th? ?quity m?th?d ?f ?cc?unting f?r invtm?nt? in ci?t, ?th?r th?n in th tw? ?xc?pti?n?l circum?t?nc (Fleming, 2005): * Th? invtm?nt i? ?cquir?d ?nd h?ld ?xclu?iv?ly with ? vi?w t? di?pl in th? nr futur? * Th? ci?t? ?p?r?t und?r v?r? l?ng-t?rm rtricti?n? th?t ?ignific?ntly imp?ir it? ?bility t? tr?n?f?r fund? t? th? invt?r. In th c, th? invtm?nt ?h?uld ?cc?unt?d f?r in ?cc?rd?nc? with I 39. ? h?lding ?f 20% ?r m?r? ?f th? v?ting p?w?r will indic?t? ?ignific?nt influ?nc? unl it c?n b? clrly d?m?n?tr?t?d ?th?rwi. If th? h?lding i? l th?n 20%, th? invt?r will b? prum?d n?t t? h?v? ?ignific?nt influ?nc? unl ?uch influ?nc? c?n b? clrly d?m?n?tr?t?d. Th? ?quity m?th?d i? ? m?th?d ?f ?cc?unting wh?r?by ?n ?quity invtm?nt i? initi?lly r?c?rd?d ?t ct ?nd ?ubqu?ntly ?dju?t?d t? r?fl?ct th? invt?r? ?h?r? ?f th? n?t pr?fit ?r l ?f th? ci?t? (invt). Di?tributi?n? r?c?iv?d fr?m th? invt r?duc? th? c?rrying ?m?unt ?f th? invtm?nt. ?dju?tm?nt? t? th? c?rrying ?m?unt m?y ?l b? r?quir?d ?ri?ing fr?m ch?ng in th? invt ?quity th?t h?v? n?t bn includ?d in th? inc?m? ?t?t?m?nt (Canfield, C., 2005). ?n ?cqui?iti?n ?f th? invtm?nt in ?n ci?t?, ?ny diff?r?nc? (wh?th?r pitiv? ?r n?g?tiv?) b?twn th? ct ?f ?cqui?iti?n ?nd th? invt?r? ?h?r? ?f th? f?ir v?lu ?f th? n?t id?ntifi?bl? t? ?f th? ci?t? i? ?cc?unt?d f?r lik? gdwill in ?cc?rd?nc? with I 22, Bu?in C?mbin?ti?n?. ?ppr?pri?t? ?dju?tm?nt? t? th? invt?r? ?h?r? ?f th? pr?fit? ?r l ?ft?r ?cqui?iti?n ?r? m?d? t? ?cc?unt f?r: [I 28.17] * ?dditi?n?l d?pr?ci?ti?n ?f th? ci?t d?pr?ci?bl? t? bd ?n th? ?xc ?f th?ir f?ir v?lu ?v?r th?ir c?rrying ?m?unt? ?t th? tim? th? invtm?nt w ?cquir?d; ?nd * ?m?rtiti?n ?f th? diff?r?nc? b?twn th? ct ?f th? invtm?nt ?nd th? invt?r? ?h?r? ?f th? f?ir v?lu ?f th? n?t id?ntifi?bl? t?. U ?f th? ?quity m?th?d ?h?uld c fr?m th? d?t? th?t ?ignific?nt influ?nc? c, ?r if v?r? l?ng-t?rm rtricti?n? ?r? impd th?t ?ignific?ntly imp?ir th? ?bil ity ?f th? ci?t? t? tr?n?f?r fund? t? th? invt?r. Th? c?rrying ?m?unt ?f th? invtm?nt ?t th?t d?t? ?h?uld b? r?g?rd?d ct th?rft?r. If th? ci?t? u ?cc?unting p?lici th?t diff?r fr?m th ?f th? invt?r, th? ci?t trtm?nt ?h?uld b? ?dju?t?d ?nd, if it i? n?t pr?ctic?bl? t? m?k? ?uch ?dju?tm?nt?, th?t f?ct ?h?uld b? di?cld. If th? invt?r? ?h?r? ?f l ?f ?n ci?t? ?qu?l? ?r ?xcd? th? c?rrying ?m?unt ?f th? invtm?nt, th? invt?r n?rm?lly di?c?ntinu including it? ?h?r? ?f furth?r l ?nd th? invtm?nt i? r?p?rt?d ?t nil v?lu?. ?dditi?n?l l ?r? r?c?gnid t? th? ?xt?nt th?t th? invt?r h incurr?d ?blig?ti?n? ?r m?d? p?ym?nt? t? ti?fy ?blig?ti?n? ?f th? ci?t? th?t th? invt?r h gu?r?ntd ?r ?th?rwi c?mmitt?d. If th? ci?t? ?ubqu?ntly r?p?rt? pr?fit?, th? invt?r rum including it? ?h?r? ?f th pr?fit? ?nly ?ft?r it? ?h?r? ?f th? pr?fit? ?qu?l? th? ?h?r? ?f n?t l n?t r?c?gnid (Caims, D., 2004). I-31 Fin?nci?l R?p?rting ?f Int?rt? in J?int V?ntur Th? ?bj?ctiv? ?f I 31 i? t? prcrib? th? ?cc?unting trtm?nt r?quir?d f?r int?rt? in j?int v?ntur, irrp?ctiv? ?f th? ?tructur ?r f?rm? und?r which th? j?int v?ntur? ?ctiviti t?k? pl?c?. F?r th? purp ?f th? ?t?nd?rd, j?int v?ntur ?r? clifi?d j?intly c?ntr?ll?d ?p?r?ti?n?, j?intly c?ntr?ll?d t? ?nd j?intly c?ntr?ll?d ?ntiti. J?intly C?ntr?ll?d ?p?r?ti?n? J?intly c?ntr?ll?d ?p?r?ti?n? inv?lv? th? u ?f t? ?nd ?th?r rurc ?f th? v?ntur?r? r?th?r th?n th? t?bli?hm?nt ?f ? p?r?t? ?ntity. ch v?ntur?r u it? ?wn t?, incur? it? ?wn ?xp?n ?nd li?biliti ?nd r?i it? ?wn fin?nc?. Th? r?v?nu? fr?m th? l? ?f th? j?int pr?duct ?nd ?ny ?xp?n incurr?d in c?mm?n ?r? u?u?lly ?h?r?d ?m?ng th? v?ntur?r? (Buck, T., Jopson, B., 2005). J?intly C?ntr?ll?d t? J?intly c?ntr?ll?d t? inv?lv? th? j?int c?ntr?l, ?nd ?ft?n th? j?int ?wn?r?hip, ?f t? d?dic?t?d t? th? j?int v?ntur?. ch v?ntur?r m?y t?k? ? ?h?r? ?f th? ?utput fr?m th? t? ?nd ch br? ? ?h?r? ?f th? ?xp?n incurr?d. Th? ?t?nd?rd r?quir th?t th? v?ntur?r ?h?uld r?c?gni in it? fin?nci?l ?t?t?m?nt? it? ?h?r? ?f th? j?int t?, ?ny li?biliti th?t it h incurr?d dir?ctly ?nd it? ?h?r? ?f ?ny li?biliti incurr?d j?intly with th? ?th?r v?ntur?r?, inc?m? fr?m th? l? ?r u ?f it? ?h?r? ?f th? ?utput ?f th? j?int v?ntur?, it? ?h?r? ?f ?xp?n incurr?d by th? j?int v?ntur? ?nd ?xp?n incurr?d dir?ctly in rp?ct ?f it? int?rt in th? j?int v?ntur?. J?intly C?ntr?ll?d ?ntiti ? j?intly c?ntr?ll?d ?ntity i? ?n ?ntity in which tw? ?r m?r? v?ntur?r? h ?n int?rt, with ? c?ntr?ctu?l ?rr?ng?m?nt which t?bli?h j?int c?ntr?l ?v?r th? ?ntity. C?mp?rin Th? c?nv?rg?nc? t? IFR? ld? t? ?xtr? tr?ining ct ?nd ?duc?ti?n. ? m?j?r ct ?f th? intr?ducti?n ?f ? n?w t ?f fin?nci?l r?p?rting i? t? ?duc?t? ?xt?rn?l ur? und?r?t?nding th? ch?ng in th? fin?nci?l ?t?t?m?nt?, ?nd c?mp?ni nd t? m?k? ?ur? th?ir ?t?k?h?ld?r? h?v? g?tt?n th ch?ng. Thi? rp?n?ibility f?ll up?n th? c?mp?ni th?mlv, r?th?r th?n th?ir ur?. F?r in?t?nc?, b?nk? nd t? b? inf?rm?d if ln c?v?n?nt? r?ly ?n ?cc?unting numb?r?, ?nd ?n?ly?t? nd t? und?r?t?nd why numb?r? m?y ch?ng?. ?n?th?r dir?ct ct h?pp?n?d t? bu?in i? ?t?ff tr?ining ct. F?r c?mp?ni with ?v?r ?p?r?ti?n?, mting ?t?ff tr?ining nd? ?t ?ll l?v?l? in ?ll l?c?ti?n? i? th? k?y th?t ?t?ff h th? kn?wl?dg? t? d? th?ir j?b? with?ut c?n?ulting chi?f ?cc?unt?nt? c?n?t?ntly. It c?uld b? ? big pr?j?ct th?t tr?ining mu?t rch th? r?quir?m?nt ?f hd ?ffic? ?nd which h?v? t? b? m? with l?c?l ?p?r?ting unit?. Th?n, ?ignific?nt tr?ining ?nd ?upp?rt will b? r?quir?d t? ?n?ur? th?t f?r?ign ?ub?idi?ri und?r?t?nd fully th? r?quir?m?nt? ?f r ?p?rting und?r IFR? (Bruce, T., 2004). Thi? m?v? t? IFR? i? ju?t ? p?rt ?f ? gl?b?l c?nv?rg?nc? ?n ? ?ingl? t ?f ?t?nd?rd?. Th?r? i? ?till ? l?t ?f w?rk t? d? f?r building ?nd m?int?ining tru?t in th m?rk?t?. (Wright L 2004) Th?r? i? n? d?ubting ?u?tr?li? i? ? ld?r in th? qut f?r int?rn?ti?n?lly h?rm?niz?d ?cc?unting ?t?nd?rd? ?nd pr?ctic. Th? intr?ducti?n ?f IFR? will bring imp?rt?nt b?n?fit? f?r c?mp?ni, ? r?ng? ?f ?t?k?h?ld?r?. Invt?r? will ?l w?nt t? fin?nci?l ?t?t?m?nt? which th?y c?n und?r?t?nd ?nd in which th?y c?n h?v? c?nfid?nc?. Th? ?p?ci?li?t? b?li?v? th?t th b?n?fit? in l?ng t?rm mu?t ?xcd th? ?h?rt t?rm ct?. C?p? Plc ?cc?unting ?t?nd?rd? C?p? d?liv?r?d ? lid fin?nci?l p?rf?rm?nc? in th? fir?t h?lf ?f 2009, with ?n incr in Pr?fit B?f?r? T?x ?f 85% t?  £27.2m (2008:  £14.7m). Th? p?rf?rm?nc? in th? fir?t h?lf r?fl?ct? th? ?tr?ng d?f?n?iv? n?tur? ?f C?p rvic c?upl?d with ?ur f?cu? ?n furth?r p?n?tr?ti?n ?f gr?wing m?rk?t?. C?p r?v?nu ?r? d?riv?d fr?m m?int?n?nc? w?rk? ?nd ?nginring ?nd C?n?tructi?n (?C) pr?j?ct? in th? ?n?rgy ?nd mining rurc ct?r?. M?int?n?nc? ?p?nding i? ?n nti?l ?p?r?ting ?xp?n ?f pl?nt ?p?r?t?r? ?nd th?r?f?r? imp?ct?d l by ?h?rt t?rm ch?ng in th? m?cr? ?nvir?nm?nt. ?ut?id? ?u?tr?li? ?nd N?rth ?fric?, w? h?v? n littl? ?vid?nc? ?f ? ?l?wd?wn in th? p?c? ?f ?C c?ntr?ct ?w?rd?. Th pr?j?ct? c?mpri l?rg? multi-yr c?ntr?ct? f?r pr?ducti?n t? f?r which th? ?utput i? ?ft?n pr?-ld ?nd th?r?f?r? l lik?ly t? b? imp?ct?d by ?h?rt t?rm fluctu?ti?n? in c?mm?dity pric (Killgren, L., 2005). ?tr?t?gy c?ntinu t? d?liv?r C?p? h t?bli?h?d itlf ? lding int?rn?ti?n?l pr?vid?r ?f n?n-m?ch?nic?l indu?tri?l rvic t? th? d?wn?trm ?n?rgy ?nd min?r?l rurc infrtructur? ct?r?. C?p? k? t? pr?vid? rvic thr?ugh?ut th? lif?cycl? ?f l?rg? indu?tri?l t? with ? ?tr?t?gy bd up?n: 1. Th? c?n?i?t?nt ?x?cuti?n ?nd d?liv?ry ?f pr?j?ct? ?n tim? ?nd ?n budg?t; 2. ? f?ty fir?t cultur? c?ntinu?u?ly ?triving t? pr?vid? injury-fr pr?j?ct ?x?cuti?n; ?nd 3. Invtm?nt in k?y ?m?rging m?rk?t? with l?w?r d?v?l?pm?nt ct?. C?p? h c?ntinu?d t? d?liv?r m?rgin pr?gri?n, ?n incring ?rd?r bk ?nd d?bt r?ducti?n in th? fir?t h?lf ?f th? yr, d?m?n?tr?ting th? rili?nc? ?f it? bu?in m?d?l. Th? f?cu? int?rn?ti?n?lly i? ?n d?wn?trm pr?ducti?n t? which piti?n? C?p? ?t th? l?w?r ri?k ?nd ?f th? gl?b?l ?il Fi?ld rvic (?F?) ?p?c? with n? ?xpur? t? m?r? di?cr?ti?n?ry drilling, ?xpl?r?ti?n ?r w?ll ?upp?rt ?ctiviti. In th? UK, C?p? h r?inf?rc?d it? d?min?nt piti?n with th? ?w?rd ?f ? flt-wid? m?int?n?nc? c?ntr?ct f?r Briti?h ?n?rgy (Manches ter, 2004). Tr?ding p?rf?rm?nc? H1 2009 H1 2008 Ch?ng? R?v?nu?  £331.6m  £295.9m +12.1% ?BIT?(2)  £36.2m  £29.9m +21.1% ?p?r?ting pr?fit m?rgin(5) 10.5% 10.1% +0.4% pt? Hdlin? PBT(6)  £30.2m  £21.3m +41.8% Pr?fit B?f?r? T?x  £27.2m  £14.7m +85.0% ?dju?t?d dilut?d ?P?(3) 18.1p 13.1p +38.2% Bic rning? p?r ?h?r? 16.6p 11.5p +44.3% ?xch?ng? r?t? m?v?m?nt? Th? incr in ?p?r?ting pr?fit? ?ttribut?bl? t? ?xch?ng? m?v?m?nt? ?f  £6.8m (?quiv?l?nt t? 4.4p p?r ?h?r?) h ?rin l?rg?ly fr?m th? wkn ?f ?t?rling ?g?in?t th? U? D?ll?r r?l?tiv? t? lt yr, with ?n ?v?r?g? r?t? f?r th? p?ri?d ?f U?D1.48 (2008: U?D1.98). Fin?ncing ct? N?t fin?ncing ct? b?f?r? ?th?r it?m? f?ll by 30% t?  £6.0m (2008:  £8.6m) r?fl?cting th? d?bt r?ducti?n ?nd r?duc?d int?rt r?t. R?gi?n?l ?v?rvi?w Th? Gr?up c?ntinu t? gm?nt it? bu?in ?n ? ggr?phic?l bi? with 12 bu?in unit? r?p?rting int? f?ur ggr?phic r?gi?n?. F?r th? ?ix m?nth? ?nd?d 30 Jun? R?v?nu? ( £m) ?BIT?2 ( £m) R?gi?n 2009 2008 2009 2008 UK 144.1 143.5 10.8 10.8 Gulf/Middl? t 102.7 49.6 20.6 11.6 CI?, M?d N?rth ?fric? 23.2 27.9 3.9 3.4 F?r t/P?cific Rim 61.6 74.9 4.5 6.4 T?t?l b?f?r? c?ntr?l ct? 39.8 32.2 C?ntr?l ct? (3.6) (2.3) T?t?l 331.6 295.9 36.2 29.9 Th? pr?p?rti?n ?f pr?fit? g?n?r?t?d fr?m ?ut?id? th? UK h c?ntinu?d t? gr?w ?nd n?w r?prnt? 73% ?f Gr?up ?p?r?ting pr?fit b?f?r? c?ntr?l it?m? (2008: 67%). Th rult? r?fl?ct C?p ?tr?ng m?rk?t piti?n in it? c?r? ?il rvic, d?wn?trm ?C ?nd mining rvic m?rk?t?. ?v?r th? fir?t h?lf ?f th? yr ?ur cli?nt? h?v? r?duc?d ct? whil?t m?int?ining f?ty. C?p? h h?lp?d th?m ?chi?v? th ?nd? by ?xt?nding th? ?c?p? ?f th? rvic t? b? pr?vid?d ?nd ?d?pting m?r? fl?xibl? pricing m?ch?ni?m? (Canfield, 2005). Th? Gulf/Middl? t h bn ?ur k?y gr?wth r?gi?n in th? p?ri?d, wh?r? w? h?v? b?n?fitt?d fr?m ?ignific?nt m?int?n?nc? ? hutd?wn ?nd pr?j?ct ?C ?ctivity. C?mbin?d with ? ?t?bl? UK m?rk?t, thi? h ?fft r?duc?d r?v?nu in b?th th? CI?/M?dit?rr?nn N?rth ?fric? ?nd F?r t/P?cific Rim, ?ur rult? in th? F?r t/P?cific Rim, princip?lly ?u?tr?li?, h?v? bn imp?ct?d by th? Gr?up? ?xpur? t? th? wk c?mm?rci?l ?nd rid?nti?l ?c?ff?ld hir? m?rk?t?, th? d?f?rr?l ?f pr?j?ct? in th? mining rvic ct?r ?nd d?l?y? t? Plut? LNG, th? ?n? l?rg? ?c?l? ?il ?nd g pr?j?ct curr?ntly in pr?gr. W? ?r? ing ? gr?wing l?v?l ?f int?rt in C?p bundl?d rvic? ?ff?ring in ?u?tr?li? ?nd ?r? incringly ?ptimi?tic ?b?ut th? futur? ?pp?rtuniti it pr?vid. D?bt fin?ncing ct? Th? n?t fin?nc? ch?rg? ?m?unt?d t?  £6.0m (2008:  £8.6m) ?nd includ?d fin?nc? l int?rt ?f  £0.8m (2008:  £1.0m) ?nd ?m?rtiti?n ?f b?nk f ?f  £0.3m (2008:  £0.6m). Th? Gr?up? ?ff?ctiv? int?rt r?t? f?ll t? 7.0% (2008: 7.8%) with int?rt c?v?r(13) incring t? 5.7 tim (2008: 3.3 tim). T?x ch?rg? ?nd ?ff?ctiv? t?x r?t? Th? t?x ch?rg? in th? p?ri?d b?f?r? ?th?r it?m? incrd t?  £7.7m (2008:  £5.4m) with ?n ?ff?ctiv? t?x r?t? ?f 25.5% (2008: 25.4%). T?x p?id in th? p?ri?d incrd t?  £5.3m (2008:  £3.2m) p?rti?lly r?fl?cting ch?ng t? th? p?ym?nt ?n ?cc?unt ?y?t?m? in ? numb?r ?f juri?dicti?n?. K?y ri?k? ?nd unc?rt?inti Th? k?y ri?k? ?nd unc?rt?inti f?r th? Gr?up ?r? dcrib?d ?n p?g 27 t? 29 ?f th? Gr?up? ?nnu?l R?p?rt ?nd ?cc?unt? 2008. C?nclu?i?n C?nclu?iv?ly, f?r publicly tr?d?d c?mp?ni ?nd building ci?ti with li?t?d curiti ?dh?r?nc? t? ?d?pt?d I m?y h?lp t? r?duc? th? ct ?f c?pit?l b?c?u th?ir ?cc?unt? will b? m?r? ?ccibl? t? p?t?nti?l invt?r? in th? wh?l? w?rld. F?r p?t?nti?l invt?r? , cr?dit?r? ?nd ?th?r ur? ?f fin?nci?l ?t?t?m?nt?, ?d?pt?d I will pr?vid? ? c?n?i?t?nt ?cc?unting fr?m? w?rk t? f?cilit?t? c?mp?rin ?f th? p?rf?rm?nc? ?nd prp?ct? ?f c?mp?ni ?nd building ci?ti. N?t ?xt?nding th? ?pplic?ti?n ?f th? I R?gul?ti?n , ?t lt t? m? c?mp?ni ?nd building ci?ti, c?uld crt? ?n ?rtifici?l b?rri?r t? gr?wth. References Bruce, T., (2004), looking at the same page accounts under ifrs are likely to look and behave quite differently to those under national gaap. Financial times report-international financial reporting standard; p4 Buck, T., Jopson, B.,(2005), brussels seeks greater role in iasb decisions. Financial times; feb.2005 Caims, D., (2004), financial instruments, accountancy; .sep.vol 134 issue 1333, p93, 1p Canfield, C., (2005), fasb v iasc; are the structure and standard setting process at the iasc adequate for the securities and exchange commission to accept international accounting standards for cross- border offerings, northwestern journal of international law business; fall 99, vol. 20 issue 1, p125, 20p. Fleming, C.,(2005), extracting accounting sense. Accountancy; mar 2005, vol. 15 issue 1339, p78, 2p 2c. Fuller, J.,(2005), new rules work magic for some; the abolition of goodwill amortisation under a new standard on m a keeps millions on certain balance sheets. Finan cial times; 3-02-05 Jobson, B., (2004), accounting fears make japan weary of europe. Financial times feb.2004. Kentouris, C., (2005), extracting accounting sense. Accountancy; mar 2005, vol. 135 issue 1339, p78,2p, 2c. Killgren, L., (2005), accounting change boost to alcatel earnings. Financial times; march 30 2004. Manchester, P., (2004), it feels the strain of compliance. The switch to ifrs will require major changes to company it systems. Financial times report; p.3. Teixeira, A., Pickens, D., (2005), reducing reporting risk. Chartered accountants journal; feb2005, vol. 84 issue 1, p36, 3p. Thompson, S., Murray, A, (2005), the listening board. Accountancy; mar 2005, vol. 135 issue 1339, p75,1p Appendix B?L?NC? ?HT Un?udit?d Un?udit?d 30 Jun? 30 Jun? 31 D?c?mb?r 2009 2008 2008 N?t  £m  £m  £m N?n curr?nt t? Int?ngibl? t? 188.3 181.4 188.0 Pr?p?rty, pl?nt ?nd ?quipm?nt 5 140.4 142.0 152.3 Invtm?nt? ?cc?unt?d f?r u?ing ?quity m?th?d 0.7 0.6 R?tir?m?nt b?n?fit t 0.1 0.1 0.1 D?f?rr?d t?x t 10.6 9.2 11.9 340.1 332.7 352.9 Curr?nt t? Inv?nt?ri 12.5 18.5 17.2 Tr?d? ?nd ?th?r r?c?iv?bl 178.2 157.3 184.7 Fin?nci?l t? d?riv?tiv? fin?nci?l in?trum?nt? 2.6 Ch IDC* ?ch?m? fund? (rtrict?d) 35.8 38.1 37.5 Ch ?nd ch ?quiv?l?nt? 9 32.7 15.7 33.3 259.2 232.2 272.7 Li?biliti Curr?nt li?biliti Fin?nci?l li?biliti B?rr?wing? (35.8) (36.9) (38.9) D?riv?tiv? fin?nci?l in?trum?nt? (5.0) (6.9) Tr?d? ?nd ?th?r p?y?bl (109.9) (99.7) (133.0) Curr?nt t?x li?biliti (11.6) (6.2) (9.4) (162.3) (142.8) (188.2) N?t curr?nt t? 96.9 89.4 84.5 N?n curr?nt li?biliti Fin?nci?l li?biliti B?rr?wing? (148.4) (177.8) (159.9) R?tir?m?nt b?n?fit li?biliti (5.1) (3.7) (5.2) D?f?rr?d t?x li?biliti (11.7) (11.8) (11.7) IDC* pr?vi?i?n (9.7) (8.0) (9.7) ?th?r pr?vi?i?n? (4.7) (4.7) (4.7) (179.6) (206.0) (191.2) N?t t? 257.4 216.1 246.2 ?h?r?h?ld?r? ?quity C?ll?d up ?h?r? c?pit?l 33.3 33.0 33.1 ?h?r? pr?mium ?cc?unt 8.7 7.9 8.4 ?p?ci?l rrv? 1.0 1.0 1.0 ?th?r rrv 29.2 27.0 39.4 R?t?in?d rning? 183.4 146.5 163.6 T?t?l ?h?r?h?ld?r? ?quity 255.6 215.4 245.5 Min?rity int?rt in ?quity 1.8 0.7 0.7 T?t?l ?quity 257.4 216.1 246.2 IDC r?f?r? t? th? Indu?tri?l Di Cl?im? which ?r? fund?d u?ing th? ?ch?m? ch C?NLID?T?D INC?M? ?T?T?M?NT Un?udit?d H?lf yr ?nd?d 30 Jun? 2009 Un?udit?d H?lf yr ?nd?d 30 Jun? 2008 Yr ?nd?d 31 D?c?mb?r 2008 B?f?r? ?th?r it?m?* ?th?r it?m?* T?t?l B?f?r? ?th?r it?m?* ?th?r it?m?* T?t?l B?f?r? ?th?r it?m?* ?th?r it?m?* T?t?l N?t  £m  £m  £m  £m  £m  £m  £m  £m  £m C?ntinuing ?p?r?ti?n? R?v?nu? 331.6 331.6 295.9 295.9 622.7 622.7 ?p?r?ting pr?fit b?f?r? ?th?r it?m? 34.7 34.7 29.9 29.9 65.0 65.0 ?m?rtiti?n ?f int?ngibl? t? (1.4) (1.4) (1.4) (1.4) (2.7) (2.7) Indu?tri?l di ct? (2.0) (2.0) (2.7) (2.7) (5.7) (5.7) ?xc?pti?n?l it?m? 3 (3.5) (3.5) (4.1) (4.1) ?p?r?ting Pr?fit 34.7 (3.4) 31.3 29.9 (7.6) 22.3 65.0 (12.5) 52.5 ?h?r? ?f pt t?x pr?fit? fr?m j?int v?ntur 1.5 1.5 0.5 0.5 T?t?l ?p?r?ting pr?fit 36.2 (3.4) 32.8 29.9 (7.6) 22.3 65.5 (12.5) 53.0 Fin?nc? inc?m? 0.4 0.4 0.8 0.4 1.0 1.4 0.8 2.0 2.8 Fin?nc? ct? (6.4) (6.4) (9.0) (9.0) (18.0) (18.0) Pr?fit b?f?r? t?x 30.2 (3.0) 27.2 21.3 (6.6) 14.7 48.3 (10.5) 37.8 T?x?ti?n (7.7) 0.9 (6.8) (5.4) 4.8 (0.6) (12.2) 6.3 (5.9) Pr?fit fr?m c?ntinuing ?p?r?ti?n? 22.5 (2.1) 20.4 15.9 (1.8) 14.1 36.1 (4.2) 31.9 Di?c?ntinu?d ?p?r?ti?n? L ?ttribut?bl? t? di?c?ntinu?d ?p?r?ti?n? (0.2) (0.2) (0.2) (0.2) Pr?fit f?r th? p?ri?d 22.5 (2.1) 20.4 15.7 (1.8) 13.9 35.9 (4.2) 31.7 ?ttribut?bl? t?: ?quity ?h?r?h?ld?r? 19.1 13.2 30.6 Min?rity int?rt 1.3 0.7 1.1 20.4 13.9 31.7 rning? p?r ?h?r? f?r pr?fit ?ttribut?bl? t? ?quity ?h?r?h?ld?r? Fr?m c?ntinu ing ?nd di?c?ntinu?d ?p?r?ti?n? Bic 4 16.6p 11.5p 26.7p Dilut?d 4 16.3p 11.3p 26.3p Fr?m c?ntinuing ?p?r?ti?n? Bic 4 16.6p 11.7p 26.9p Dilut?d 4 16.3p 11.5p 26.4p ?T?T?M?NT ?F C?MPR?H?N?IV? INC?M? Un?udit?d Un?udit?d H?lf-yr H?lf-yr Yr ?nd?d ?nd?d ?nd?d 30 Jun? 30 Jun? 31 D?c 2009 2008 2008  £m  £m  £m Pr?fit f?r th? p?ri?d 20.4 13.9 31.7 ?th?r c?mpr?h?n?iv? inc?m? Curr?ncy tr?n?l?ti?n diff?r?nc (13.5) 19.7 42.6 ?ctu?ri?l (l)/g?in r?c?gnid in th? p?n?i?n ?ch?m? (2.7) 2.5 (3.3) M?v?m?nt in rtricti?n ?f r?tir?m?nt b?n?fit t in ?cc?rd?nc? with I 19 2.5 (2.8) 2.6 Ch fl?w h?dg f?ir v?lu? g?in?/(l) 1.6 1.8 (6.5) N?t invtm?nt h?dg f?ir v?lu? g?in?/(l) 2.7 (5.5) D?f?rr?d t?x ?n h?dg (1.2) 3.3 ?th?r c?mpr?h?n?iv? inc?m? f?r th? p?ri?d, n?t ?f t?x (10.6) 21.2 33.2 T?t?l c?mpr?h?n?iv? inc?m? f?r th? p?ri?d 9.8 35.1 64.9 ?ttribut?bl? t?: ?quity ?h?r?h?ld?r? 8.7 34.4 63.8 Min?rity int?rt 1.1 0.7 1.1 9.8 35.1 64.9 ?T?T?M?NT ?F CH?NG IN ?QUITY Un?udit?d ?h?r? C?pit?l ?h?r? Pr?mium ?p?ci?l Rrv? R?t?in?d rning? ?th?r rrv T?t?l Min?rity int?rt T?t?l  £m  £m  £m  £m  £m  £m  £m  £m ?t 1 J?nu?ry 2008 32.8 7.5 1.0 132.9 5.5 179.7 1.0 180.7 Pr?fit f?r th? p?ri?d 13.2 13.2 0.7 13.9 ?th?r c?mpr?h?n?iv? inc?m?: Curr?ncy tr?n?l?ti?n diff?r?nc 19.7 19.7 19.7 Ch fl?w h?dg f?ir v?lu? g?in? inp?ri?d 1.8 1.8 1.8 ?ctu?ri?l g?in r?c?gnid in th? p?n?i?n ?ch?m? 2.5 2.5 2.5 M?v?m?nt in rtricti?n ?f r?tir?m?nt b?n?fit tin ?cc?rd?nc? with I 19 (2.8) (2.8) (2.8) T?t?l c?mpr?h?n?iv? inc?m? f?r th? p?ri?d ?nd?d 30 Jun? 2008 12.9 21.5 34.4 0.7 35.1 Tr?ncti?n? with ?wn?r?: ?cqui?iti?n ?f min?rity int?rt (1.0) (1.0) ?h?r? ?pti?n? pr?cd? fr?m ?h?r iu?d 0.2 0.4 0.6 0.6 v?lu? ?f ?mpl?y rvic 0.7 0.7 0.7 0.2 0.4 0.7 1.3 (1.0) 0.3 ?t 30 Jun? 2008 33.0 7.9 1.0 146.5 27.0 215.4 0.7 216.1 ?t 1 J?nu?ry 2008 32.8 7.5 1.0 132.9 5.5 179.7 1.0 180.7 Pr?fit f?r th? p?ri?d 30.6 30.6 1.1 31.7 ?th?r c?mpr?h?n?iv? inc?m?: Curr?ncy tr?n?l?ti?n diff?r?nc 42.6 42.6 42.6 Ch fl?w h?dg f?ir v?lu? l in p?ri?d (6.5) (6.5) (6.5) N?t invtm?nt h?dg f?ir v?lu? l in p?ri?d (5.5) (5.5) (5.5) D?f?rr?d t?x ?n h?dg 3.3 3.3 3.3 ?ctu?ri?l l r?c?gnid in th? p?n?i?n ?ch?m? (3.3) (3.3) (3.3) M?v?m?nt in rtricti?n ?f r?tir?m?nt b?n?fit tin ?cc?rd?nc? with I 19 2.6 2.6 2.6 T?t?l c?m pr?h?n?iv? inc?m? f?r th? p?ri?d ?nd?d 31 D?c?mb?r 2008 29.9 33.9 63.8 1.1 64.9 Tr?ncti?n? with ?wn?r?: ?cqui?iti?n ?f min?rity int?rt (1.0) (1.0) R?ducti?n in min?rity int?rt (0.4) (0.4) ?h?r? ?pti?n? pr?cd? fr?m ?h?r iu?d 0.3 0.9 1.2 1.2 v?lu? ?f ?mpl?y rvic 1.2 1.2 1.2 d?f?rr?d t?x ?n ?h?r? ?pti?n? (0.4) (0.4) (0.4) 0.3 0.9 0.8 2.0 (1.4) 0.6 ?t 31 D?c?mb?r 2008 33.1 8.4 1.0 163.6 39.4 245.5 0.7 246.2 C?NLID?T?D CH FL?W ?T?T?M?NT Un?udit?d Un?udit?d H?lf-yr H?lf-yr Yr ?nd?d ?nd?d ?nd?d 30 Jun? 2009 30 Jun? 2008 31D?c2008 N?t  £m  £m  £m Ch fl?w? fr?m ?p?r?ting ?ctiviti Ch g?n?r?t?d fr?m ?p?r?ting ?ctiviti 6 32.5 25.6 70.9 Int?rt r?c?iv?d 0.6 1.4 2.6 Int?rt r?c?iv?d ?n rtrict?d fund? (0.2) (1.0) (2.0) N?t int?rt r?c?iv?d 0.4 0.4 0.6 Int?rt p?id (6.2) (8.3) (17.0) Iu? ct? ?f n?w b?nk ln? (1.5) (1.5) T?x p?id (5.3) (3.2) (4.8) N?t ch infl?w fr?m ?p?r?ting ?ctiviti 21.4 13.0 48.2 Ch fl?w? fr?m invting ?ctiviti Purch ?f bu?in n?t ?f ch ?cquir?d (3.6) (3.6) Purch ?f bu?in d?f?rr?d c?n?id?r?ti?n p?id (0.9) (0.9) Pr?cd? fr?m l? ?f pr?p?rty, pl?nt ?nd ?quipm?nt 5 0.9 1.3 2.7 Purch ?f pr?p?rty, pl?nt ?nd ?quipm?nt 5 (5.0) (12.2) (19.9) Purch ?f int?ngibl? t? (0.3) Divid?nd p?id t? min?rity int?rt (0.4) N?t ch ud in invting ?ctiviti (4.4) (15.4) (22.1) Ch fl?w? fr?m fin?ncing ?ctiviti N?t pr?cd? fr?m iu? ?f ?rdin?ry ?h?r? c?pit?l 0.6 1.2 Pr?cd? fr?m b?rr?wing? 8.6 Fin?nc? l princip?l p?ym?nt? (3.1) (2.9) (6.1) R?p?ym?nt ?f b?rr?wing? 7 (12.1) (2.2) (20.0) ttl?m?nt ?f ln n?t 8 (3.7) N?t ch ud in fin?ncing ?ctiviti (18.9) (4.5) (16.3) ?xch?ng? (l)/g?in? ?n ch, ch ?quiv?l?nt? ?nd b?nk ?v?rdr?ft? (3.7) 0.1 5.5 N?t (d?cr)/ incr in ch, ch ?quiv?l?nt? ?nd b?nk ?v?rdr?ft? (5.6) (6.8) 15.3 ?p?ning ch, ch ?quiv?l?nt? ?nd b?nk ?v?rdr?ft? 30.5 15.2 15.2 Cling ch, ch ?quiv?l?nt? ?nd b?nk ?v?rdr?ft? 9 24.9 8.4 30.5