The Broken Column and Olympia Essay Example | Topics and Well Written Essays - 750 words

The Broken Column and Olympia - Essay Example The article The Broken Column and Olympia centers around the correlation of two compositions, The Broken Column and Olympia. Basic imaginative practice and subjects inside societies recommends Ancient Egyptian craftsmanship was made as a methods for celebrating notable individuals and the antiquated Greeks made workmanship to assist them with revering their divine beings and goddesses and to protect their social fantasies. The Romans appear to have received components of the Greek style and melded it with components of the Egyptian style to build up a creative methodology planned to move and praise their social accomplishments. After the fall of Rome, the craft of the Middle Ages got ruled by subjects of Christian strict legends so as to dismiss the Paganism of the fallen Empire, consolidating strict, political and instructive reason. From here, the specialty of the Renaissance mirrors the re-disclosure of progressively antiquated artistic expressions melded to new logical headways g iving it an authentic and exploratory reason. As this avoid through craftsmanship history illustrates, it is handily comprehended that workmanship can be utilized for a few purposes and it is frequently propelled or created here and there to expand on the past while mirroring the perspectives of the present. As a trying artist, the craftsmanship that interests most to me is what faces challenges and embraces an increasingly present day or rearranged portrayal of subject, for example, Edward Manet's historic Olympia going into the advanced period or Frida Kahlo's The Broken Column as a demeanor of oddity. ... More than that, she is obviously fruitful in that she has a worker and lives inside an extremely rich condition. Her hireling is dull to such an extent that she nearly gets lost out of sight shade of the artwork despite the fact that she remains at the edge of the most distant side of the bed. In light of the manner in which he made the artistic creation, Manet leaves it broadly not entirely clear. â€Å"The open bareness of a lovely lady now and then turns into an issue of governmental issues †¦ which activities are allowed under which implicit and regularly evolving rules† (Friedrich 1). Her appearance inside the inflexibly appropriate Victorian culture was stunning in light of the fact that she was viewed as an effective, delightful and free lady when contrasted with the for the most part feeble ladies of the age. In this way, her portrayal inside amenable society was an immediate test to the inflexible beliefs of legitimacy and virtue on the grounds that the work of a rt proposed that her conduct and character were acknowledged and even overlooked inside her general public. In â€Å"The Broken Column† (1944), Kahlo utilizes fanciful pictures to delineate her own torment and enduring and line to hold everything together while likewise showing an autonomous lady. The messed up section of the title alludes to the inner structure of Frida’s spinal segment. This spinal segment is seen through the torn skin and approximately twined gauzes that are the main things holding her together. The messed up segment represents her absence of a help structure and speaks to her feeling of irregularity while it demonstrates one of her significant wellsprings of torment. Her skin is pricked done with minuscule pins, exhibiting that she is never liberated from the littler agonies of day by day life. The pins proceed down the correct side of her body, which is the side that had been disabled by both

INSURANCE MARKETS & OPERATIONS Essay Example | Topics and Well Written Essays - 2250 words

Protection MARKETS and OPERATIONS - Essay Example The different effects of the dangers that influence the protection business are broke down alongside their effect upon the interest and gracefully of protection. Regardless the effect of the interest and flexibly upon the protection and upon the business overall is inspected alongside their endless supply of the business structure. Components that influence different protection activities are resolved with the force of their effect in regards to the adjustment in gracefully and change in the protection business along these lines bringing about the adjustment in the structure. The fate of the protection adding up to different elements that represents the adjustment in the business and how they will affect the business later on is broke down. The extent of the business later on in regards to changes in the interest and gracefully alongside the auxiliary changes that will be advanced in order to profit by the outer components is resolved (Rejda, n.d.). The reaction of the business in re gards to the components is broke down in present and future terms and the eventual fate of the protection business is resolved with respect to change and the outside elements. ... Amal, et al., 2012). The outside components of the protection business are talked about in detail beneath. Dangers The protection business is to record and tackle hazards that are looked by different elements. The adjustment in the power of the hazard decides the interest and flexibly of protection. The auxiliary dangers that have developed in the ongoing years when the organization mergers improved and different organizations began combining the hazard expanded. There are different dangers factors influencing the protection business and they are ordered differentially alongside the nature and effect (Coomber, 2006). The adjustment in the dangers that are to be confronted the protection business changed in understanding in order to deal with those dangers. Monetary Risks The financial dangers expanded when the worldwide emergencies in different economies expanded and along these lines affected the protection business. Major deliberate budgetary disappointments bringing about the conc lusion of many corporates, for example, Enron and Lehman Brothers Bank has accumulated the goal towards reevaluation of hazard (Jeffrey and Amy, 2004). The financial changes far and wide have made the protection business understand the power of the dangers that in expanding and consequently represent the changing and expanding danger of economy to consolidate in its tasks and structures. The monetary uneven characters the world over and the adjustment in the salaries have made the protection business reanalyze the interest of the protection. Natural Risks The meaning of the dangers completely changed when the ecological changes in the globe started quite a bit of a worry. The turn of events and the effect of the dangers that is looked by the earth caused the protection business as how the

Financial Basics Expert Tips for Smarter Spending

Financial Basics Expert Tips for Smarter Spending Financial Basics: Expert Tips for Smarter Spending Financial Basics: Expert Tips for Smarter SpendingWe want to let you in on a little personal finance secret: Spending less is great, but you can only take control of your financial future by spending smarter, too.Since April is  National Financial Literacy Month, we’ve been writing a series of posts that all focus on the basic building blocks of personal finance. For this article on smarter spending, we reached out to a whole host of financial experts to get their tips and advice. Here’s what they had to say!Build a budget.Christian Stewart, Ramsey Preferred Financial Coach for Do Better Financial:“Create a monthly budget. Managed money goes farther, so the best thing you can do is give every dollar a job using zero-based budgeting. Youll feel like you got a raise when you tell your money where to go instead of wondering where it went.”Todd Huettner, President of residential mortgage bank  Huettner  Capital (@HuettnerCapital):“If you dont have a monthly budget, you simply c ant spend smarter because you cant define smart or stupid without knowing how much money you have and what expenses you have.”Track your expenses.Marc Andre, personal finance blogger at  VitalDollar.com (@vital_dollar):“One of the most important things you can do to improve your spending habits is to track your expenses. Creating a budget is common advice (and good advice), but a budget wont do you any good unless you know you are actually sticking to the budget.“In order to know that, youll need to record your expenses. Its not difficult, but it does take a little bit of effort. You can use a spreadsheet or paper, but take a few minutes at the end of each day to record everything that you spent that day.“You should also check your bank and credit card statements at the end of the month for any automated payments or anything else that you might have missed. Give each expense a category (food, gas, housing, etc.) and then you can add up the totals for each category, as well a s the overall total.“Tracking your expenses can be a really eye-opening experience, and youll probably see a few areas right away that are higher than you expected. Its a simple way to get information that you can use to know where you need to cut back. And there are also some apps, like Mint, that help to make it more of an automated process and can save you some time.”Use cash rather than plastic.Todd R. Christensen, author, Accredited Financial Counselor ®, and education manager at  Money Fit by DRS, Inc. (@MoneyFitbyDRS):“Use cash rather than plastic (credit, debit, store, and pre-paid). You will spend on average almost 15 percent less because of the physical nature of cash and the requirement to actually count it out.“Take only the amount of cash into the store that you plan to spend. Leave store, debit, prepaid, and credit cards at home. You can’t overspend if you only have the budgeted cash.”Stephanie Schill, personal finance blogger at Wynning in Life (@wynningi nlife):“Pay with cash, and save the change. Pull out the amount of money from an ATM that you aim to spend in a week. Any change you receive put it into a piggy bank or jar. Any money left over at the end of the week put aside. You can use that for future savings, the start of an emergency fund, or a slush fund to pull from if you have a week where you run out of money early.“Only take into a store how much you intend to spend. If you’re heading to the grocery store and only want to spend $40, bring in $40. cash Are you going to the salon for a haircut and know you always get talked into add-on services? Only take in as much as the service and tip will cost, and nothing more. It’s easy to turn down upselling of product or services when you only have a set amount of money in your pocket.”Pay yourself first.Amy White, personal finance blogger at Daily Successful Living (@amysdailyliving):“My number one tip for anyone trying to improve their financial life is to start by pa ying themselves first.  Every single time you get paid or receive money you should be setting aside a small portion of it for yourself.  I personally recommend 10 percent of your income, but if you are just getting started you may need to start with a smaller percentage.“When many people hear this advice, their first reaction is that they dont have any extra money.  They probably dont, but Ive found that regardless of your income when you prioritize setting aside money for yourself youll find a way to pay the rest of your bills.“As soon as you begin paying yourself first and putting yourself first in your financial life something changes inside of you.  That money becomes your future and you are willing to sacrifice in other areas so that you can continue to save and grow your money.“Once you begin paying yourself you are finally free to begin saving for retirement, your emergency fund or using it to reduce your debt. “Make a list.Christian Stewart:“Dont become of a vi ctim of the Bullseye Effect. Ever been into a certain store for one or two items, and walk out $250 wondering what happened? Making a list of the things you need, whether shopping for groceries or clothes, can keep you on track with your money.”Consider quality over quantity.Personal finance blogger Kelan Kline of  The Savvy Couple  (@TheSavvyCouple):“Always seek the best value. Whether it’s a new pair of sneakers or a meal from the grocery store frugal people always seek the most value. Frugal living is all about getting the most value out of your money.“Instead of buying quantity, start thinking about quality. You want your purchases to continue to work and provide value years down the road.”Stephanie Schill:“Consider quality over quantity. In many cases, spending is an impulse. You are spending because you want something, not because you really need it. Consider, before you buy, if you own something already that can do the job.Is there already something to eat for din ner in the refrigerator or pantry?  Do you own a similar sweater? Does your child already have a toy that is close to this one? Try to walk away from the purchase! You’ll likely forget about it by tomorrow anyway.”Look for places to cut back.Todd Huettner:“Monthly subscriptions have become so popular, we lose track of how much were actually spending on things. Add them up every month and see what you can cut.“Make a list of the top 10 things you could cut out from your budget to save a few bucks periodically or for several months in an emergency.”Pay for services upfront. Doug Keller, marketing manager at  Payless Power (@paylesspower):“Often when payment is completed after a service is received, individuals are inclined to pay more than desired, especially if careful attention is not paid beforehand. This is the case for dining out or other services such as utilities. When possible, it is advised that you pay upfront in order to protect yourself from overspending based on your budget.“There are a number of plans and services you may not be aware of that offer this, such as prepaid electricity which requires no deposit or credit check and allows consumers to pay whatever they want and subsequently receive the corresponding amount of electricity.Negotiate with your creditors.Stephanie Schill:“If you have debt payments higher than you’d like, give the lenders or creditors a call and explain your situation. They may lower your interest rate, or reduce your payment. It’s totally worth the effort.Think cell phone, cable, and insurance, but it could be any debt: mortgage, student loans, etc. as well. Be brave and make the call. Youll be happy you did.”Try separate savings accounts.Todd Huettner:“A simple tip to get control of your spending is to create a separate savings account for each discretionary spending item in your budget. Automatically transfer funds each month into the account.“Examples include gifts, vacation, groceries, enterta inment, eating out, clothing, auto maintenance (oil changes and dont forget miscellaneous repairs including tires).”Dont grocery shop when hungry or stressed.Todd R. Christensen:“With regards to grocery shopping, do not shop when you are hungry, in a hurry, stressed or have young children in tow. Studies who you will spend 10 percent to 15 percent more with children in your cart or at your side, and even more when you are hungry.”Save up for big purchases.Christian Stewart:Saving each month for a big purchase, like new furniture or a car, helps you avoid incurring debt and gives you time to find the best deal.”Always think long-term.Kelan Kline:“Cheap people always look for a quick fix, something that will benefit them immediately. Frugal people are always looking for a long-term solution.“Get into the habit of thinking long-term when making purchases, especially big purchases. Things like appliances, cars, and houses should be thought of as a long-term investment. These are items you want to get the most value out of in the long-term.“Being able to sacrifice your desire for instant gratification and a fast solution will save you a ton of money.”Create a no spend day, week or month. Stephanie Schill:“Create a no spend day, week or month for yourself. If you’re a regular impulse shopper this may help curb your habit. Challenge yourself to eat what’s in the refrigerator and freezer. Participate in free activities, go to the park, head to the library, etc.Stay off your phone to avoid online shopping. Whatever the deal is, there will be another one. What you dont spend, roll into debt payments or save!”Be creative and know yourself.Todd Huettner:“A great example a lady told me yesterday at a lunch-n-learn workshop I was invited to present at a local business was as follows:I opened a savings account at a small credit union with only a few branches that are all 45 minutes away. It does not offer online banking and the account does not allo w check writing.So, I can mail deposits, but I have to actually go into the branch to make a withdraw and its simply too time-consuming to do that without rearranging my day and I know I won’t do it.Ask yourself this one simple question.Stephanie Schill:“Ask yourself Will I be happy I bought this a week from now? Will I be happy I bought this a month from now? A mind trick can help you curb impulse spends and put into perspective if what you’re buying is really a need or a want.”To learn more about how you can spend less, spend smarter, and save more money, check out these other posts and articles from OppLoans:How to Raise Your Credit Score by 100 Points7 Ways to Avoid Overdraft Fees10 Good Money Habits to Make Your Friends JealousBuilding Your Financial Life: Budgeting for BeginnersDo you have a   personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.  |  InstagramContributorsMarc Andre is a personal finance blogger at   VitalDollar.com (@vital_dollar), where he writes about saving money, managing money, and ways to make more money. His goal with Vital Dollar is to help individuals and families get the most out of the money they have and to reach their full financial potential. He lives in Pennsylvania with his wife and their two kids (a son and a daughter).Author and Accredited Financial Counselor ®, Todd R. Christensen, MIM, MA, is Education Manager at  Money Fit by DRS, Inc. (@MoneyFitbyDRS), a nationwide nonprofit financial wellness and credit counseling agency. Todd develops educational programs and produces materials that teach personal financial skills and responsibilities to all ages. Having facilitated nearly two thousand workshops since 2004 on the fundamentals of effective money management, he based his first book, Everyday Money for Everyday People (2014), on the discussions, tips, stories and ideas shared by the tens of thousands of individuals and couples in attendance.A recognized rea l estate and personal finance expert with over twenty years of experience,  Todd  Huettner  is frequently quoted in the business press including The Wall Street Journal, CNBC, Credit Karma, and Realtor.com. He is President of  Huettner  Capital (@HuettnerCapital), a residential mortgage bank located in Denver, CO.   In addition to earning an economics degree and an M.B.A.,  Todd  has held his real estate license in multiple states and been an underwriter, financial analyst, and consultant.Douglas Keller has been a financial expert for 20 years, helping people reach financial stability. He works for  Payless Power (@paylesspower) where he continues to help people save money on their bills every month.Kelan and Brittany Kline aka The Savvy Couple  are two thriving millennials that are daring to live differently. They started their personal finance blog  in September 2016 to help others get money $avvy so they can live a frugal and free lifestyle. Brittany is a full-time 4th-grade teac her and Kelan runs The Savvy Couple full-time and works as a digital marketer. You can follow them here:  Facebook,  Twitter,  Pinterest, and  Instagram.Stephanie Schill is the creator of the personal finance blog  Wynning in Life (@wynninginlife).  On her site, she shares how you can spend less, save more, and achieve your financial goals faster. A lifetime saver and self-proclaimed shameless couponer, she is passionate about saving intentionally,   spending deliberately, and having fun along the way. When not writing she enjoys spending time outdoors with her husband Nick and their daughter Wynn.Christian Stewart is the founder and lead financial coach of  Do Better Financial. She has always been interested in money, from saving for her first car at age six to buying her first mutual fund at 18. This passion lead her to get a Finance degree from Texas AM University, but a lack of planning also meant student loans. She was introduced to the concepts of budgeting and the debt snowb all shortly after buying her first car and proceeded to pay off $32,000 in debt in only 27 months. She founded Do Better Financial to empower people to take control of their finances and start winning with money.Amy White, MBA is the founder of  Daily Successful Living (@amysdailyliving), a website dedicated to helping people learn to manage their money.    Amy believes that with the right help anyone can become a personal finance expert.    As an entrepreneur, Amy has helped coach her readers to take control of their money, learn to create profitable side hustles and begin preparing for retirement.

Leadership Style Of Leadership Styles - 870 Words

Leadership is a form of leading individuals towards a specific goal/objective and with that comes many different theories/styles about leadership. There isn’t one perfect way to lead and Jeff Bezos, Ken Chenault and Jack Welch show that different types of leadership styles could lead to success. They have had great success throughout their careers as CEO; they were able to find what worked and led their companies to great success. While there isn’t one specific way to lead to success there are plenty of styles that could be applied to help move towards success; Coercive/Commanding, Authoritative/Visionary, Affiliative, Democratic, Coaching, and Pacesetting. â€Å"Leaders who used styles that positively affected the climate had decidedly better financial results than those who did not. That is not to say that organizational climate is the only driver of performance. Economic conditions and competitive dynamics matter enormously.† (Goleman, 2000). With that said we will compare the six styles and discuss the CEOs relation to those styles. Coercive/Commanding is a style of leadership that is demanding and expects subordinates to listen. Typically the best time for this approach is when there is time constraints around a project and not time could be wasted. While that approach could work; employees feel disinterested and that they don’t have input into the situation. Authoritative/Visionary focuses on giving the group a vision to believe in; something to aim for. This styleShow MoreRelatedLeadership Styles : Leadership Style780 Words   |  4 PagesIntroduction Leadership style is designed according to a pioneer s behaviors, which is enveloped under behaviorist theory. Inside of this class, distinctive examples of leadership behavior are watched and classified as leadership styles. Practicing managers have a tendency to be the most keen on looking into this specific theory in light of the fact that with it leaders can modify their style taking into account the convictions, values, inclinations and society of the association they work for.Read MoreLeadership Styles And Leadership Style1026 Words   |  5 PagesThe fourth subject is the leadership style. As of right now the company is an autocratic style. This means that there is less communication involved. â€Å"In an autocratic leadership style, the person in charge has total authority and control over decision making.† (Leadership Toolbox) The leadership style mainly effects the employees. The reason for this is because with an autocratic leadership, there is less communication. The employees have opinions in the business and they want to share thoseRead MoreLeadership Styles Of Leadership Style1399 Words   |  6 PagesWhat is leadership? Merriam-Webster Online Dictionary defines leadership as â€Å"the power or ability to lead other people†. Although this is simply put, it is also correct. But leadership is much more than the ability to lead. The ability is one piece of the puzzle. Other pieces to consider in leadership are education, attributes, and style, just to name a few. In this assignment, I will focus on leadership style. Specifically, I will discuss my style according to the assessment developed byRead MoreLeadership Style Of Leadership Styles897 Words   |  4 PagesThe last style of leadership is delegative leadership in which the leader delegates tasks to the employees. This leader is abl e to derive satisfaction from allowing the staff to participate in decision making responsibilities (Brody and Nair, 2014, p. 4). These leadership styles are not set in stone and characteristics may overlap into other leaderships styles. The leadership style that would best suit a rural area is participate leadership style. In rural areas agencies and organizations lack resourceRead MoreLeadership Styles And Leadership Style851 Words   |  4 Pageswant to give critical thought to your unique leadership style and foster genuine followership, learn from what’s out there and weave it into something meaningful and authentic.† (Feiner, 2015) For the last two weeks, I have spent time self-analyzing and soul searching to identify the qualities I bring to a leadership role. Many of the core values important to me also align between the participative leadership style and laissez-faire leadership style. These values include working in a team environmentRead MoreThe Leadershi p Style Of Leadership Styles1994 Words   |  8 Pagesthat leadership is a kind of ability or activity which a leader could straight affect and guide their followers to achieve certain objectives in the specific situation (John Calvin Maxwell,2011). The shifting internal elements and increasing external competitions have posed growing demanding to managers’ leadership approaches. However, managers are provided with various personalities or perspectives, accordingly, managers are not accomplishing their aims by using similar styles. The leadership styleRead MoreLeadership Styles : Leadership Style995 Words   |  4 PagesLeaders are expected to use a leadership style, communication skills, and their knowledge of interpersonal and team dynamics to create an appropriate quality of work life for their followers in the workplace. A leadership style is a combination of a leader’s attitude, expertise, character, and values that is exhibited in the leader’s behavior. Each style of leadership reflects a leader’s beliefs about a follower’s capabilities. A follower’s perception of leadership style really matters to them, as theyRead MoreLeadership Style Of Leadership Styles934 Words   |  4 PagesThere is much that is written about leadership; like books on leadership styles, techniques and also biographies of leaders that have inspired people to action. While this is true, there is the everyday leadership and a slightly different outlook to leadership as well. Here are a few of them. 1. There Are Different Kinds of Leaders Among leaders are formal and informal leaders. Formal leaders are elected to their positions like congressmen, senators and office bearers of clubs. Informal leadersRead MoreLeadership Styles : Leadership Style979 Words   |  4 Pagestheir own leadership style. In her article, Johnson (n.d.) discusses five leadership styles: Laissez-Faire, autocratic, transactional, transformational and participative. Laissez-Faire has a French origin and it means â€Å"a policy or attitude of letting things take their own course, without interfering† (Oxford dictionaries, 2016). When leaders take total control, such as making all decisions alone and does not ask for the input of the employees, they are using the autocratic leadership style. ThisRead MoreLeadership Style Of Leadership Styles Essay1433 Words   |  6 Pagesprobably feel as if they know enough about leadership to speak on the subject. In many cases, however, this is not truly the case at all. Leadership is a broad concept , and there are several different styles and approaches to consider when studying the topic. It is important to consider these styles and approaches when evaluating the effectiveness, or lack thereof, of any particular form of leadership. With that in mind, this essay will consider the leadership styles of two leaders who are involved in the

Analysis Of The Film Amandla - 1363 Words

Amandela! Throughout the film Amandla! A Revolution in Four-Part Harmony, black South Africans began converting their historical roots in music into a fight for freedom. As these oppressed individuals struggled for racial equality during the twentieth century, music classified as freedom songs emerged as the fight against the inhumane Apartheid intensified. These freedom songs, which are performed and played throughout the film, protest white supremacy and segregation using a combination of inspiring and punishing lyrics to ignite a flame in the hearts of the persecuted. Black South Africans found a way to rally together, fight, and survive the National Party’s attempt at complete segregation through music. Apartheid originated as colonization came to an end in South Africa, in the hope of entirely segregating the nation. Under Apartheid, the rights of the majority black inhabitants were curtailed and the white minority rule was strengthened and put into action. Enforced throu gh legislation by the National Party from 1948 to 1994, 3.5 million non-white South Africans were removed from their homes and forced into segregated neighborhoods, in one of the largest mass removals in modern history (Evans). The purpose of Apartheid was not only the separation of the races, but the separation of groups. White domination wanted to maintain power and did so through the enforcement of racist laws involving unequal social order (Apartheid). Apartheid forced South Africans intoShow MoreRelatedAnalysis Of The Film Amandla Essay1180 Words   |  5 PagesD’Shae Barnes Film Essay: Amandla! A Revolution in Four-Part Harmony The film, Amandla! A Revolution in Four-Part Harmony, showed how during the Apartheid, music in South Africa was a form of expression of the country’s general emotion that portrayed the oppression and struggle the black natives had to endure. Songs amongst the black South African community had different tones; for example, some songs depicted the injustices of the Apartheid amongst the black natives and others would be sung toRead MoreAnalysis Of Angie Thomass The Hate U Give786 Words   |  4 Pagesreflection of the changing times. It was a time of unapologetic, artistic expression and uncovered literary, political, intellectual, and creative icons. Almost a century later, a new generation guides in the next wave of innovative art. From Tv and film to music and literature, the same spirit that brought the Harlem Renaissance rises and manifests into new millennium activism. Among the society of new generation creatives is New York Times best-selling author Angie Thomas. Her debut novel, The Hate

Advanced Corporate Reporting Free Essays

A reporting entity is required to prepare its financial report based on IASB framework and it is so useful for different types of users to evaluate the financial performance of the reporting entity and make suitable decisions. In this essay, the usefulness of conceptual framework in preparing of financial report will be discussed. And also, 2011 annual report of CLP Holdings Limited will be reviewed to further discuss how its qualitative characteristics of the information are useful for shareholders. We will write a custom essay sample on Advanced Corporate Reporting or any similar topic only for you Order Now Finally, one of its qualitative characteristics will be selected to be the most important and a conclusion will be made at the end of this essay. Usefulness of conceptual framework The IASB Framework sets out the definitions and recognition criteria for the elements of financial statements. Before the framework was set, companies might use different definitions and recognition criteria to recognize their transactions, even it is the same nature of transactions. For example, non-current assets can be recognized in cost model or revaluation model. If there was no framework, a company might use cost model to recognize its machinery while revaluation model was used to recognize property. However, the entity is required to be consistent to adopt cost model or revaluation model for a long period under the framework. As a result, the framework is useful for consistent accounting treatments. Because of the consistency, it is easier to compare the entities’ performance over time, even performance between different entities in the same industry. Also, it is easier for the reporting entity to prepare financial statements, especially in preparing consolidated financial statements for multinational entities. Most countries adopt IFRS nowadays. This is an international framework and they can use the same definition and recognition criteria when considering how to treat different transactions such as sales, purchases and valuation of stock. It will reduce the time for arguing the accounting treatment of different transactions. Qualitative characteristics of financial report As a shareholder, the financial statement should have four major qualitative characteristics and these characteristics will be discussed as follow: 1. Relevance A relevant financial statement should be predictable and have confirmatory value. It should be able to predict the future of the enterprise and shareholders can make a suitable decision based on the statement. In 2011 annual report of CLP Holdings Limited (CLP), there is a risk management report which is relevant to shareholders. All entities will probably have different types of risk. Nevertheless, CLP set a risk management framework which consists of risk governance structure and risk management process. The risk governance structure states that who will be responsible for dealing with risks and the risk management process diagram shows how to manage its risks. Additionally, CLP assessed its top tier risks and future challenges so that shareholders can predict how risky if they invest in this company. Another example of relevance is the trend of earnings and dividends per share in the past ten years. The trend can help existing and potential shareholders predict the future performance of CLP. Since 2002, Earnings and dividends per share are increasing except 2009; shareholders then may predict they can still get an increasing earnings and dividends per share in the coming years and they may be willing to invest more in the enterprise. Last but not least, financial statement of CLP has confirmatory value because of its 5-year summary statement. The figures of the past five years has already confirmed in the past annual reports. For example, total revenue sharply increased in 2011 and the main reason is the rising revenue from energy business in Australia. Shareholders may predict that CLP is expanding its business to Australia and the revenue from this segment will continuously rise in the coming few years. Besides the increasing revenue, dividends declared of CLP are very steady and shareholders do not worry if they cannot receive the dividend. Hence, shareholders will evaluate that CLP is worth to invest. 2. Faithful representation A reliable financial statement should be prepared in a true and fair view. That means it should be neutral, free from material errors, complete and prudence. From the point of auditors’ view, the financial statement of CLP is prepared in a true and fair view and it complies with Hong Kong Financial Reporting Standards (HKFRS) and Hong Kong Companies Ordinance. As the auditors’ report is clean, it reflects that the financial statement is free from material errors and the major transactions are completely recorded during 2011. On the other hand, CLP has an audit committee which comprises with five members; all of them are Independent Non-executive Directors (INED) while three of them are members of Hong Kong Institute of Certified Public Accountants (HKICPA). INED do not participate in any operation and decision making of the company and do not have any relationship to the shareholders, so they are not influenced by shareholders and can be no bias in selection of information putting in the financial report. In addition, the financial report is audited by the third party and the opinion can be formed neutrally. Furthermore, the financial report should be prepared in a prudent manner which means assets or revenue cannot be overstated whilst liabilities and expenses cannot be underestimated. For CLP, its inventory is stated at a lower cost or net realizable value. Prudence concept is applied when the company prepare its financial statement. 3. Comparability A qualitative financial statement should be comparable, no matter internal or external. Shareholders must be able to compare the financial performance between different years of the reporting entity and at the same time, they also are able to compare the financial performance between different companies in the same industry. The financial statement of CLP can fulfil this qualitative characteristic. Besides its statement shows the figures of two years (2010 and 2011), it shows the increasing or decreasing percentage of its revenue, expenses, assets and liabilities in 5-min annual report and economic value section. It gives a clear picture to shareholders to compare between two years. Moreover, the financial report is prepared based on HKFRS, the accounting policy is consistent and because of this, it is easier for shareholders to compare the financial performance between different years. Financial statement of CLP can also be compared with Power Assets Holdings Limited (HKEL), which is the major competitor of CLP. In 2011, revenue of CLP is about nine times of HKEL and the operating profit is a double of HKEL. However, profit before taxation of CLP is only $1,000 million more than that of HKEL. Shareholders may query why there is only a small difference between profit of both companies and what is happening on the operation of CLP. Therefore, they can make a correct decision through the comparison. 4. Understandability Besides the above three qualitative characteristics, understandability is important for shareholders too. There are many explanations at the bottom of the financial statement such as a quick guide of its classification of different entities and explanation of indefinite useful life. These further explanations can also help shareholders understand the financial performance of CLP more. As not all shareholders have enough accounting knowledge, some of them may not know how to evaluate the performance through income statement and financial position. Thus, statement of cash flow can help them understand the performance easier because this statement is prepared in cash basis; it clearly reflects the net cash inflows and outflows from different activities. The liquidity and the going concern of CLP can be understood even if shareholders are lack of accounting knowledge. The items of an understandable financial statement should also be aggregated and classified. Revenue in Consolidated Income Statement is aggregated at a lump-sum figure and the analysis of the revenue only revealed in the Notes to the Financial Statements. Another example is bank loans and other borrowings. An analysis of this item is also revealed in the notes. Bank loans and other borrowings is not only aggregated at a lump-sum figure, but also is classified as a current liabilities with other short-term liability. In my opinion, faithful representation is the most important qualitative characteristic. Users of financial report are not only shareholders, but also lenders, government, suppliers, employees, customers and the public. A financial report is prepared on the basis of true and fair which means that financial report is reliable and can be used under different circumstances. For instance, the entity wants to borrow loan from bank, the bank can rely on the financial report and estimate the risk of this loan according to accounting ratios and cash flow. For suppliers, when they consider giving credit terms to the company, they can rely on the statement of cash flow and some short-term items like current assets and current liabilities. Furthermore, the financial report must be audited. If the report is not prepared in true and fair view, the annual report will be qualified. As a result, this qualitative characteristic is the most important. Conclusion To sum up, the financial report must be prepared on the basis of the conceptual framework because the framework provides general theories and recognition criteria in preparing financial report. Additionally, a qualitative report should be relevant, reliable, comparable and understandable. Shareholders can predict the future financial performance based on the past events and the forecast of the company. Also, the report can be compared internally and externally and be understood so that shareholders can decide how to invest their money. On the other hand, the most important characteristic is faithful representation. Financial report must be prepared in a true and fair view so that the report can be unqualified and be used appropriately by the community. (Word: 1598) Reference 1. o CLP HOLDINGS LIMITED, (2012). ‘CLP Group 2011 Annual Report’. Available from: https://www. clpgroup. com/ourcompany/aboutus/resourcecorner/publications/Pages/publication. aspx [Accessed 28. 10. 2012] 2. ELLIOTT, Barry ELLIOTT, Jamie, (2007). Financial Accounting and Reporting. England: Pearson Education Limited, pp. 161 – 181 3. HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (HKICPA), (2010). ‘Conceptual Framework for Financial Reporting 2010’. Available from: http://app1. hkicpa. org. hk/ebook/index. php [Accessed 28. 10. 2012] 4. POWER ASSETS HOLDINGS LTD, (2012). ‘Annual Report 2011’. Available from: http://www. powerassets. com/pahWeb/IR/FinancialReports/AnnualReports/AnnualReport2011_en. htm [Accessed 12. 11. 2012] 5. PUTHRAN, Santosh, (2009). ‘IASB Framework – Financial Statements’. Available from: http://www. managementaccountant. in/2009/07/iasb-framework-financial-statements. html [Accessed 10. 11. 2012] 6. VICTORIA UNIVERSITY, MELBOURNE AUSTRALIA, (n. d. ). ‘Conceptual framework’. Available from: http://www. staff. vu. edu. au/faux/Topic%203%20Conceptual%20Framework%201%202002. ppt [Accessed 28. 10. 2012] How to cite Advanced Corporate Reporting, Papers Advanced Corporate Reporting Free Essays A reporting entity is required to prepare its financial report based on IASB framework and it is so useful for different types of users to evaluate the financial performance of the reporting entity and make suitable decisions. In this essay, the usefulness of conceptual framework in preparing of financial report will be discussed. And also, 2011 annual report of CLP Holdings Limited will be reviewed to further discuss how its qualitative characteristics of the information are useful for shareholders. We will write a custom essay sample on Advanced Corporate Reporting or any similar topic only for you Order Now Finally, one of its qualitative characteristics will be selected to be the most important and a conclusion will be made at the end of this essay. Usefulness of conceptual framework The IASB Framework sets out the definitions and recognition criteria for the elements of financial statements. Before the framework was set, companies might use different definitions and recognition criteria to recognize their transactions, even it is the same nature of transactions. For example, non-current assets can be recognized in cost model or revaluation model. If there was no framework, a company might use cost model to recognize its machinery while revaluation model was used to recognize property. However, the entity is required to be consistent to adopt cost model or revaluation model for a long period under the framework. As a result, the framework is useful for consistent accounting treatments. Because of the consistency, it is easier to compare the entities’ performance over time, even performance between different entities in the same industry. Also, it is easier for the reporting entity to prepare financial statements, especially in preparing consolidated financial statements for multinational entities. Most countries adopt IFRS nowadays. This is an international framework and they can use the same definition and recognition criteria when considering how to treat different transactions such as sales, purchases and valuation of stock. It will reduce the time for arguing the accounting treatment of different transactions. Qualitative characteristics of financial report As a shareholder, the financial statement should have four major qualitative characteristics and these characteristics will be discussed as follow: 1. Relevance A relevant financial statement should be predictable and have confirmatory value. It should be able to predict the future of the enterprise and shareholders can make a suitable decision based on the statement. In 2011 annual report of CLP Holdings Limited (CLP), there is a risk management report which is relevant to shareholders. All entities will probably have different types of risk. Nevertheless, CLP set a risk management framework which consists of risk governance structure and risk management process. The risk governance structure states that who will be responsible for dealing with risks and the risk management process diagram shows how to manage its risks. Additionally, CLP assessed its top tier risks and future challenges so that shareholders can predict how risky if they invest in this company. Another example of relevance is the trend of earnings and dividends per share in the past ten years. The trend can help existing and potential shareholders predict the future performance of CLP. Since 2002, Earnings and dividends per share are increasing except 2009; shareholders then may predict they can still get an increasing earnings and dividends per share in the coming years and they may be willing to invest more in the enterprise. Last but not least, financial statement of CLP has confirmatory value because of its 5-year summary statement. The figures of the past five years has already confirmed in the past annual reports. For example, total revenue sharply increased in 2011 and the main reason is the rising revenue from energy business in Australia. Shareholders may predict that CLP is expanding its business to Australia and the revenue from this segment will continuously rise in the coming few years. Besides the increasing revenue, dividends declared of CLP are very steady and shareholders do not worry if they cannot receive the dividend. Hence, shareholders will evaluate that CLP is worth to invest. 2. Faithful representation A reliable financial statement should be prepared in a true and fair view. That means it should be neutral, free from material errors, complete and prudence. From the point of auditors’ view, the financial statement of CLP is prepared in a true and fair view and it complies with Hong Kong Financial Reporting Standards (HKFRS) and Hong Kong Companies Ordinance. As the auditors’ report is clean, it reflects that the financial statement is free from material errors and the major transactions are completely recorded during 2011. On the other hand, CLP has an audit committee which comprises with five members; all of them are Independent Non-executive Directors (INED) while three of them are members of Hong Kong Institute of Certified Public Accountants (HKICPA). INED do not participate in any operation and decision making of the company and do not have any relationship to the shareholders, so they are not influenced by shareholders and can be no bias in selection of information putting in the financial report. In addition, the financial report is audited by the third party and the opinion can be formed neutrally. Furthermore, the financial report should be prepared in a prudent manner which means assets or revenue cannot be overstated whilst liabilities and expenses cannot be underestimated. For CLP, its inventory is stated at a lower cost or net realizable value. Prudence concept is applied when the company prepare its financial statement. 3. Comparability A qualitative financial statement should be comparable, no matter internal or external. Shareholders must be able to compare the financial performance between different years of the reporting entity and at the same time, they also are able to compare the financial performance between different companies in the same industry. The financial statement of CLP can fulfil this qualitative characteristic. Besides its statement shows the figures of two years (2010 and 2011), it shows the increasing or decreasing percentage of its revenue, expenses, assets and liabilities in 5-min annual report and economic value section. It gives a clear picture to shareholders to compare between two years. Moreover, the financial report is prepared based on HKFRS, the accounting policy is consistent and because of this, it is easier for shareholders to compare the financial performance between different years. Financial statement of CLP can also be compared with Power Assets Holdings Limited (HKEL), which is the major competitor of CLP. In 2011, revenue of CLP is about nine times of HKEL and the operating profit is a double of HKEL. However, profit before taxation of CLP is only $1,000 million more than that of HKEL. Shareholders may query why there is only a small difference between profit of both companies and what is happening on the operation of CLP. Therefore, they can make a correct decision through the comparison. 4. Understandability Besides the above three qualitative characteristics, understandability is important for shareholders too. There are many explanations at the bottom of the financial statement such as a quick guide of its classification of different entities and explanation of indefinite useful life. These further explanations can also help shareholders understand the financial performance of CLP more. As not all shareholders have enough accounting knowledge, some of them may not know how to evaluate the performance through income statement and financial position. Thus, statement of cash flow can help them understand the performance easier because this statement is prepared in cash basis; it clearly reflects the net cash inflows and outflows from different activities. The liquidity and the going concern of CLP can be understood even if shareholders are lack of accounting knowledge. The items of an understandable financial statement should also be aggregated and classified. Revenue in Consolidated Income Statement is aggregated at a lump-sum figure and the analysis of the revenue only revealed in the Notes to the Financial Statements. Another example is bank loans and other borrowings. An analysis of this item is also revealed in the notes. Bank loans and other borrowings is not only aggregated at a lump-sum figure, but also is classified as a current liabilities with other short-term liability. In my opinion, faithful representation is the most important qualitative characteristic. Users of financial report are not only shareholders, but also lenders, government, suppliers, employees, customers and the public. A financial report is prepared on the basis of true and fair which means that financial report is reliable and can be used under different circumstances. For instance, the entity wants to borrow loan from bank, the bank can rely on the financial report and estimate the risk of this loan according to accounting ratios and cash flow. For suppliers, when they consider giving credit terms to the company, they can rely on the statement of cash flow and some short-term items like current assets and current liabilities. Furthermore, the financial report must be audited. If the report is not prepared in true and fair view, the annual report will be qualified. As a result, this qualitative characteristic is the most important. Conclusion To sum up, the financial report must be prepared on the basis of the conceptual framework because the framework provides general theories and recognition criteria in preparing financial report. Additionally, a qualitative report should be relevant, reliable, comparable and understandable. Shareholders can predict the future financial performance based on the past events and the forecast of the company. Also, the report can be compared internally and externally and be understood so that shareholders can decide how to invest their money. On the other hand, the most important characteristic is faithful representation. Financial report must be prepared in a true and fair view so that the report can be unqualified and be used appropriately by the community. (Word: 1598) Reference 1. o CLP HOLDINGS LIMITED, (2012). ‘CLP Group 2011 Annual Report’. Available from: https://www. clpgroup. com/ourcompany/aboutus/resourcecorner/publications/Pages/publication. aspx [Accessed 28. 10. 2012] 2. ELLIOTT, Barry ELLIOTT, Jamie, (2007). Financial Accounting and Reporting. England: Pearson Education Limited, pp. 161 – 181 3. HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (HKICPA), (2010). ‘Conceptual Framework for Financial Reporting 2010’. Available from: http://app1. hkicpa. org. hk/ebook/index. php [Accessed 28. 10. 2012] 4. POWER ASSETS HOLDINGS LTD, (2012). ‘Annual Report 2011’. Available from: http://www. powerassets. com/pahWeb/IR/FinancialReports/AnnualReports/AnnualReport2011_en. htm [Accessed 12. 11. 2012] 5. PUTHRAN, Santosh, (2009). ‘IASB Framework – Financial Statements’. Available from: http://www. managementaccountant. in/2009/07/iasb-framework-financial-statements. html [Accessed 10. 11. 2012] 6. VICTORIA UNIVERSITY, MELBOURNE AUSTRALIA, (n. d. ). ‘Conceptual framework’. Available from: http://www. staff. vu. edu. au/faux/Topic%203%20Conceptual%20Framework%201%202002. ppt [Accessed 28. 10. 2012] How to cite Advanced Corporate Reporting, Essay examples

Alexander the Great Essay Example For Students

Alexander the Great Essay Alexander the Great Essay By Kenneth W. Dunn Professor Diane Gordon UMUC HIST115 Spring 2005 Introduction Alexander III was born on July 20th, 356 BC to King Philip II and Olympias. He was born in Pella, Macedonia. In 343 BC Aristotle was hired to educate Alexander at the age of 13. In 338 he commanded for the first time the Calvary during the battle of Chaeronea. Alexander ascends the throne of Macedonia in 336 BC after the murder of his father, King Philip II. 336-323 BC is when he started his empire, conquering kingdom after kingdom. Why was Alexander the Great? Alexander III was known as Alexander the Great to his people from 336-323 BC. Why to this day do we still look at Alexander the Great as one of the greatest rulers of the world? Even though Alexander ruled for only 13 years as king of Macedonian what made him gain the title as Alexander the Great? Should he be known for it because of his military skills, his popularity with his people or his leadership skills? Why did Alexander deserve to be called the Great? He was not the first of his time to be called it. There were two others before him that were called the Great, the Persian King Cyrus the Great and the Egyptian Pharaoh Ramses the Great. To this day his leadership skills are still considered by military experts as being the most outstanding commanders of all time. Alexander was able to motivate and inspire his troops to fight any battle for him by leading his troops, talked to every single troop and received the same wounds that they did. One thing that can only be marveled at is the over whelming factor, his charisma. He was the only individual that was able to hold together an empire together. After his death the empire fell apart into competing kingdoms. Alexander III is known to have helped shaped the world the way we know it today. Persians, Egyptians, Babylonians were eastern cultures that dominated the world until Alexander came into rule. He changed the focus on civilization from the eastern to the western societies, Greece and Rome. Alexander took the gold reserves of the Persian Kings and minted it into currency, using his resources to build new cities while continuing his conquest of other kingdoms. This enabled the Greek civilization to spread through out the known world and improving trade relations and activities. Alexander established an economic system that remained active until the industrial revolution in the 18th century. The limits for the inhabited earth at the time was established by him and remained so until the 15th century, before the voyages of the Portuguese and Spanish. Darius III, King of Persian, was one of Alexanders opponents during his rule of Macedonia. Persian was a vas empire that stretched from Egypt, the Mediterranean Sea, India and central Asia. Darius was Alexanders greatest foe and he faced Darius army, which was said to be incredibly large, over one million Persians in 331 BC. In 334 BC Alexanders armies wiped out a Persian defense force at the river Granicus (Turkey). In 333 Darius tasted defeat by Alexander in the town of Issus, (southern part of Turkey). It was in 331 BC, against the million man army, that Darius faced his final defeat at Gaugamela (Iraq). The battle in 334 BC took place when Alexander crossed Hellaspont with and army of 35,000 Macedonians. When they reached the Granicus River they ran into 40,000 Perians and Greek mercenaries. His army defeated 40,000 and according to history his army only suffered the loss of 110 men. At this time all of the minor states of Asia submitted to him. Alexander continued with his army southward and ran into King Darius III main army. The Battle of Issus was in 333 BC and Darius army was said to be 500,000, which is believed to be over exaggerated. During the battle Darius was cut off from his base so he fled northward at the same time abandoning his mother, wife and children. Down syndrome 2 Essay He might have escaped, but a vine caught his foot and he tripped. He was killed by some other bodyguards instantly. Philips death in 336 BC lead Alexander to succeed him and become King Alexander III. By this time, he was twenty years old. It was said that he was an incredibly handsome man and he always was clean shaven. Although he was a .