Roman Empire vs. Roman Rebublic Essay - 900 Words

Though the roman empire and the roman republic vary in their political structures they are quite common in the structures of their social hierarchy and reasoning for their downfalls. The Roman Republic and the Roman Empire highly differ in their political structures. The republic: created in 509 BCE. was a form of representative democracy. It consisted of 2 consuls of which were appointed by the senate and then voted on. These consuls were the head officers and the were appointed for one year. The senate was one of two legislative bodies comprised of 300 senators and 10 tribunes who were all patricians. The other body was knows as the tribal assembly and was made up of plebeians who met in a forum to vote on things such as consuls.†¦show more content†¦In the roman empire the structure of a family was the basis for the structure of government. It was thought that a family was a state within a state. The dominant male or paterfamilias have control over the family just as the paterfamilias of the state (state magistrates): had the power of the state. But while men are at the top of this hierarchy slaves are at the bottom. Slaves could be acquired as prisoners of war or could be traded. The rich owned the most slaves and often the best. Slaves were used for cooks, valets, waiters, cleaners, farmers, assistants or artisans. Because the empire grew out of the traditions of the republic, both social structures of the republic and the empire were based on wealth but you will also notice that in both societys there are few rich compared to the many poor or slaves in which they are similar. Finally the roman republic and the roman empire were similar in their downfall and collapse. In the roman republic landed aristocrats took over state owned land and bought out small peasant owners to develop large estates (latifundia). Because the number of small farmers decreased the number of men available for the military decreased as well. This then led to the army recr uiting poor that hadnt owned property. When they decided to take advantage of this military system a civil war broke out... 35 years later Caesar was stood as dictator of Rome. He ruled for three years but was quickly

The Current Demand For Energy - 1224 Words

1. Introduction Europe experienced two energy crises during the 1970s, which led to escalating demand for energy resources (specifically, oil) that could not be adequately supplied (Bonny, 1987; Donatos Mergos, 1989). This led to a decrease in economic activity that reflected as a decrease in the demand for energy in the form of oil. Alternative energy sources needed to be considered in order to maintain the economic activities of society without further depleting the natural resources. Besides these crises in the 1970s, Greece had shown a remarkable ability to adapt to energy crises experienced in the 5th Century BC (Donatos Mergos, 1989; Botkin Keller, 2012). The current demand for energy is akin to the â€Å"perception of crisis that†¦show more content†¦This essay will highlight some of the issues related to the energy crises and discuss potential solutions that form part of an integrated energy management system. The purpose of the integrated management system would be to ensure that there is a combination of technologies that is customised to the receiving environment, which will ensure that there is â€Å"sustainable energy development† (Botkin Keller, 2012). This research essay will be based on the energy crisis. Open Educational Resources (OER) will be used together with journal cited references. The OER references provides students and teachers with a platform for unrestricted sharing of educational knowledge (Glennie et al., 2013). 2. Potential Solutions to Energy Crisis Sustainable energy development must be developed on a local level using technologies that have little impact on its receiving environment in the immediate future and for future generations (Botkin Keller, 2012). The ultimate aim would be a change in lifestyle to ensure that energy sources on a local level are independent from the current infrastructure setup (Evenson, Zarske Carlson, 2005). The energy use on a local level can be used as a gauge for national policy to steer countries in the direction of sustainable energy development (Ziramba, 2008). 2.1 Renewable Energy Technologies Energy from the sun may be utilised in various methods, as shown in Table 1. Solar thermal technologies (including the solar water heater) has seen an

Divorce Argument Essay - 888 Words

Divorce has progressively become a common procedure worldwide, affecting not only parents and their offspring, but also the communities that surround the family unit, and consequently presenting a terrifying threat for the affected child. Nonetheless, regardless of the conventionality of divorce, it persists to affect various aspects of childrens daily lives and rituals. Children and adolescents are consequently deprived of a customary and stable family upbringing and thus suffer the disadvantages of a single-parent family structure. Divorce can be signified as a common legal procedure for the dissolution of a marriage, which ultimately results in the separation of two parents and inevitable division of property and final custodial†¦show more content†¦Divorce can significantly result in, higher rates of school dropout, teenage pregnancy, [and] juvenile delinquency (Berlin, CYBRARY). Children habitually imitate their parents behavior and following a major life change such as divorce, they may attempt to release their withdrawn emotions through anger and participating in illegal activity. An opposing viewpoint contradicts my perspectives on the detrimental impacts divorce poses for children and adolescents in particular. Certain theories suggest that divorce is necessary and beneficial in providing relief to children who experience negativity and depression as a result of conflict within the family unit. This argument maintains that divorce does not harm children, who in fact engage in delinquent acts whilst cohabiting with their struggling parents in a violent atmosphere. The Journal of Youth and Adolescence manifests that divorce does not damage a childs existence as, being exposed to conflict within the family in the form of arguments and violence is positively related to feelings of anger and depressed mood among adolescents (LIRN). The various authors of this complex article attempt to clarify that there is a definite correlation between depression and anger as well as family conflict. The article distinguishes that divorce does not harm children but in actuality provides relief from continuous turmoil and an oppressive environment. ThisShow MoreRelatedAnalysis Of Tony Hilfer s `` Marriage And Divorce ``894 Words   |  4 Pagesâ€Å"Marriage and Divorce in America† by Tony Hilfer is an effectively constructed argument. Therefore, it is a good, reliable source. While within an essay there are many claims, Hilfer’s main claim is that marriage and divorce are both a part of American values. This is difficult to understand because it is not an explicitly stated thesis to his writing. However, as every statement comes back to that idea, it is the central claim. Stating that America’s values support both marriage and divorce demonstratesRead MoreAnalytical Response to Barbara Kingsolver’s â€Å"Stone Soup† Essay680 Words   |  3 PagesBarbara Kingsolver’s â€Å"Stone Soup† is a personal response to society’s view of the â€Å"broken† family. Kingsolver believes that society has for too long criticized divorce, remarriage, single parenthood, gay parents, and blended families, and that alternative families deserve equal standing in our society. In response to reading Kingsolver’s essay, this paper will serve to show which parts of â€Å"Stone Soup† are supported by outside ev idence and which are not. â€Å"Stone Soup† is a personal reaction by BarbaraRead MoreSummary Of Barbara Kingsolver s Stone Soup Essay1251 Words   |  6 Pagesall true? 50 percent of all marriages end in divorce and of that 50 percent, 46 percent are families. So why is this â€Å"perfect† family ideal so widespread? Author Barbara Kingsolver tries to explain this in her essay: ‘Stone Soup’. She claims it’s because society is so traditional and primitive in the way we idealize what a family is supposed to be: two married parents and their children. But that’s not really the case anymore. The main idea of her essay is that the definition of family needs to beRead MoreCounseling Should Make A Difference994 Words   |  4 PagesENC 1101 Final Essay Jacob Buxton Fall, 2014 Counseling Would Make a Difference According to Huff Post Divorce, Divorce Rate by State, per 1000 residents in America 12.3 of them get divorced. (Huff Post)With the divorce rate steadily climbing, I believe that every state should enact a divorce counseling law that requires married couples to go through counseling before being granted a divorce. This law can help married couples on the verge of divorce resolve their issues and build happierRead MoreArgument Analysis on Gay Marriage1483 Words   |  6 PagesArgument Analysis on Gay Marriage There are many controversies surrounding todays world, such as abortion, animal testing, and social reform issues. It seems that no one can come to a common agreement on the legitimacy of these topics. Personal characteristics, such as upbringing, culture, religion and ethnicity, all play a role in determining ones feelings on a given controversial issue. However, one of the most protested and discussed issues in current political debate is same-sex marriage. ThereRead MoreAnalysis Of Stone Soup By Barbara Kingsolver959 Words   |  4 Pages American novelist, Barbara Kingsolver, in her excerpt, â€Å"Stone Soup†, taken from, High Tide in Tucson: Essays from Now or Never, recounts the outrageous view that society has on divorced families/homes. Kingsolver’s purpose is to impress upon readers that it is okay for families to stem away from the traditional, â€Å"Dad, Mom, Sis, Junior†, family. She creates a persuasive tone in order to get rid of stereotypes and ju dgments of marital issues held by her readers and society. Through the effective useRead MoreAnalysis Of Why I Am Still Want A Wife By Judy Brady1515 Words   |  7 PagesIn her essay titled â€Å"Why I [Still] Want a Wife†, Judy Brady argues that wives are automatically assigned the role of primary caretaker and homemaker in a traditional marriage. Brady states that in her marriage, she is expected to earn an income while her husband pursues a higher education, she is expected to perform all parental duties exclusively, tend to all housework, her husband’s sexual needs and desires with no regard to her own, and be a hostess while keeping quiet and doing all the aboveRead MoreDeborah Tannen s View Of Men And Women967 Words   |  4 Pages Compromise Is the Key In the essay â€Å"Sex, Lies and Conversation: Why Is It So Hard for Men and Women to Talk to Each Other?† by Deborah Tannen, she is comparing the way men and women listen, communicate, and get along together. Tannen states that â€Å"successful cross-cultural communication should begin at home (118).†Instead of women fighting over giving up their lives, or having to uproot their living arrangements for their husband’s job, or having to deal with the daily life of cleaning, cookingRead MoreWhat Is Breaking The Love Into Two Essay1159 Words   |  5 PagesSpreading The Love Into Two Doesn’t parent separation sound like such a bad thing? When parents get divorced, doesn’t it feel like the end of the world? When parents get a divorce they are not the only ones breaking up, it’s the whole family, right? Wrong. In most cases everyone would agree parent separation is a tragic time for a family. Although, not all scenarios makes parent separation seem so bad. In cases where a child might experience a lot of pain and suffering from their parents being togetherRead MoreIs Marriage A Defunct Proposition?1501 Words   |  7 Pagesmeaning anymore. If that was really the case, then we need to ask the question why so many people still choose to get married. In the essay â€Å"The case against marriage†, by Jessica Bennett and Jesse Ellison, the authors mistakenly argue that marriage is a defunct proposition. The authors argue that marriage is a broken institution, it does not make sense anymore and divorce rates very high. I argue that marriage is still important and a lot of people choose to get married. Marriage is the union of a

Analysis Of Holden Caulfields Life In The Catcher In The Rye

In The Catcher in the Rye by J.D. Salinger, Holden Caulfield’s life is composed of a great amount of contempt; he perceives society through pessimistic lenses, continuously dismissing its ways. Trying to veer off his path to adulthood, Holden often holds people accountable for their â€Å"phony† ways. He aims to â€Å"save† the children from such an outcome that he makes it his responsibility. The pivotal moment of which he transcends to maturity occurs is when he witnesses the children reach for the gold ring. Rather than blindly believing that he can save the children from sinking into the â€Å"evils† of the world and maintain their innocence, he ultimately decides to let them make their own decisions and grow up. A majority of the book consists of†¦show more content†¦Though he knows it’s impossible, he does not want to face the reality that some things just occur naturally and that it is perpetually changing anyway. However, as the novel nears the end, Holden experiences his pivotal moment and takes on a different perspective of life. Rather than just going through with his plan of isolating himself from the superficial society, Holden decides to stay and face it, with its adulthood and phoniness. Seeing Phoebe attempt to grab the gold ring along with other kids, Holden thinks to himself, â€Å"I was... afraid she’d fall off... but I didn’t say anything or do anything. The thing with kids is, if they want to grab for the gold ring, you have to let them do it... If they fall off, they fall off† (211). Holden reaches the conclusion that he can’t be a catcher. He can only watch the children and in no way can he avert them from committing their own wrongdoings; he is not able to save them from shedding their innocence as they grow older and they will eventually. Releasing himself from the task, â€Å"[Holden] felt so damn happy† (213). A burden has lifted as he lib erates himself from such a responsibility. He doesn’t have to carry the weight of executing the responsibility he shackled himself with, one that greatly affected him mentally. He knows that he does not have to keep up this pretense anymore. Holden believed it was his place in the world to tackle on the task of preservingShow MoreRelatedCatcher in the Rye4413 Words   |  18 PagesThe Catcher in the Rye â€Å"Is The Catcher in the Rye, as a work of literature still relevant for today’s youth?† Name: Sara Sigurdson Course: English A1 Supervisor: Mr. Peter Steadman Word count: 3851 Candidate number: 00136022 Table of Contents Content Page Number Abstract 3 Introduction 4 The Actual Catcher in the Rye 4 The Sexual Matter 5 The Caulfield Family 6 Narrator and Protagonist 8 Role Model 9 Mr. Antolini 10 Targeted Audience 10 Guidance 12 Read MoreThe Catcher in the Rye by J. D. Salinger2004 Words   |  9 PagesThe Catcher in the Rye is a popular novel written by J.D. Salinger. Published in 1951, the book was originally written for adults, but it is now remembered and adored by people from all parts of the world and people from all walks of life – especially by teenagers – a likely effect that was only inevitable considering the center stage of the narrator the great crumby flake Holden Caulfield, to use his style of speaking, who accurately portrayed teenage angst and loneliness in a style that many youngstersRead MoreCatcher in the Rye - Phony Essay945 Words   |  4 PagesCatcher in the Rye Ââ€" Essay The theme of phoniness, illustrated by J.D. Salinger is the key of a better understanding the story line as a whole. Phony or fake more often than not means not real and is mostly referred to some religions by non believers or sometimes even to people. J.D. Salinger has used the term phony in a very common manor. By the interpretation of common manor, many of the people at that time period suited to the style of Holden Caulfields dialogues through J.D. SalingerRead MoreSalinger s The Gifts Of Imperfection1142 Words   |  5 Pagesnovel Catcher in the Rye, Salinger illustrates the double-edged effects of Holden’s beliefs on authenticity by his usage of the word, â€Å"phony†. The novel is narrated by a young adolescent named Holden Caulfield who becomes guilty of expulsion from school and embarks on a journey through New York City. There, he meets many unique people, a majority to which he assumes as phonies, immediately questioning their authenticity. His character development is depicted by utilizing the effects on Holden fromRead MoreThe Catcher in the Rye500 Words   |  2 Pagesnovel The Catcher in the Rye, the protagonist Holden Caulfield has strange behavioral tendencies. The main character, Holden, suffers from mental illness after suffering from everything he has gone through. His mental illness is triggered from depression after his brother, Allie, had passed away. Depression can be caused by many different things including a loss or death, which is what Holden goes through in â€Å"Catcher in the Rye,† a novel written by J.D Salinger. The protagonist; Holden CaulfieldRead MoreJ.D Saligner, The Cather in the Rye948 Words   |  4 PagesHolden Caulfield’s Psychological State: An Analysis In J.D. Salinger’s novel The Catcher in the Rye, the main character Holden Caulfield’s life is affected by an inability to connect with others and an intense fear of sexuality. Many readers may infer that Holden has a fear of adulthood and sexuality because he is unable to move past his younger brother Allie’s death. While Holden’s fear and rejection of sexuality may be linked to his inability to move on, Holden’s deeply negative reactions to hintsRead MoreAnalysis of JD Salingers The Catcher in the Rye1594 Words   |  6 PagesAnalysis of JD Salingers The Catcher in the Rye J. D. Salinger wanted to write a story, that many believe is at least partially autobiographical, about the angst of being a teen age boy trying to navigate the transition between adolescence and adulthood. The story has been a constant in lists about the best American novels written in the twentieth century, and it has received much criticism also. It is not that people do not believe that Caulfield would have cussed as much as he does or thatRead MoreCatcher in the Rye1138 Words   |  5 PagesJ.D. Salingers The Catcher in the Rye provides a provocative inquiry into the crude life of a depressed adolescent, Holden Caulfield. Without intensive analysis and study, Holden appears to be a clearly heterosexual, vulgar yet virtuous, typical youth who chastises phoniness and decries adult evils. However, this is a fallacy. The finest manner to judge and analyze Holden is by his statements and actions, which can be irrefutably presented. Holden Caulfield condemns adult corruption and pho ninessRead MoreF. D. Salinger s Catcher Of The Rye1721 Words   |  7 PagesJ. D. Salinger’s Catcher in the Rye features a complex narrative surrounding a troubled young student, Holden Caulfield. Difficulties he faces throughout the story force Holden to confront his fears of adulthood and maturation and the responsibilities therein through the difficulties he faces throughout the story. Academic controversy surrounds whether Holden learns from these confrontations and adjust accordingly, maturing throughout the story. While initially this seems rather subjective, a thoroughRead MoreMental illness and Mental Disorders in Catcher in the Rye by J.D. Salinger2045 Words   |  9 Pagesfrom a mental disorder. This means that 57.7 out of 217.8 million people over the age of 18 are ill; never mind that mental illnesses are the leading cause of disability in Canada and the United States. Holden Caulfield, the controversial main character of J.D Salinger’s novel Catcher in t he Rye, spends much of the book wandering through the streets of New York City. Kicked out of boarding school for the umpteenth time, he does many odd things: he calls a prostitute, tries to befriend a taxi driver

Essay on The Failure of Communism - 1655 Words

The failure of communism Communist had a long history during the 20th century, and communism was very influential. Almost all of Asia and East Europe became Communist. From the start of the theory then many civil wars in Russia affected the whole world. Communist defined the idea of itself in many different ways, it helps many nations came together formed a party fought wars, but it also made many countries became really poor, and the economy in most of the countries got pushed back about 10 years. Communism is an economic and political system that sought to create an egalitarian society; it collapsed because of personal interest and government’s corruption. Communism was first found by Karl Marx and Friedrich Engels in the second half†¦show more content†¦Ã¢â‚¬Å"The class of the wholly property laws, who are obliged to sell their labor to the bourgeoisie in order to get in exchange, the means of subsistence for their support. This is class of the class of proletarians, or the proletariat.† As we know that â€Å"The communism is a theoretical statement of the conditions for the emancipation of the proletariat.† It is the doctrine of the liberation of the proletariat. There were no such labor and rich people cannot own any worker. In society everybody have his or her own farmland, but all the production is owned by the state. How much food each person will get is depending on how much food they contributed to the country. In the idea of communism everybody has to share, and there are no such individual secrets. All the people should have the same interests. According to the research few students at Stanford Universit y did, â€Å"in a communist society, the individual’s best interests are indistinguishable from the society’s best interest. Thus the idea of an individual freedom is incompatible with communist ideology. The reason to hold an individual speech and information rights would likely be met only in certain instances rather then across time. Making the default a lack of freedom.† Not only share and have same interest, they also share their benefit together. Communist focuses on the benefits to society instead of individual. All the land wasShow MoreRelatedThe Failure Of Communism And Communism965 Words   |  4 PagesHIST-130.10 22 April 2015 1. Discuss the seeming failure of communism and other forms of socialism and the apparent triumph of capitalism in the 1990s, as well as considering capitalism’s possible benefits and debits in the early twenty-first century. Capitalism and Communism have both been put forth as the best models for modern enlightened societies. Each philosophy contains both desirable and undesirable elements within its framework. Communism is based on a firm belief that fiscal and socialRead MoreFrom The Dropping Of The Atomic Bombs On Japan In 19451498 Words   |  6 Pagescontainment to curb the spread of Soviet communism throughout the world. The U.S. spent billions of dollars during the Cold War period on foreign policies of containment, but is criticized that these strategies were ineffective in containing the spread of communism. In 1946, The Long Telegram, put forth by the father of the containment theory, George F. Kennan, stated that in order to defeat Soviet communism the U.S. must to thwart the spread of communism throughout the world. Therefore, the successRead MoreThe Collapse of Communism in the USSR, Central, and Eastern Europe1102 Words   |  4 PagesThe collapse of communism in the USSR and Central an d Eastern Europe Before we move on to our essay on to analyse The Collapse of Communism in USSR and Central and Eastern Europe and the reasons behind its collapse, we should discuss and understand the definition of Communism. â€Å" Communism is a social system in which all the resources, economic activities are owned by state or country. † It is a system in which wealth is dispersed equally among the people and there is no private ownership ofRead MoreThe Perestroika Reform And Glasnost Policy Programs1716 Words   |  7 Pagescollapse of the Soviet Union and failure of communism in Eastern Europe. This essay will focus on how the Perestroika reform and Glasnost policy programs as well as other external and internal pressures contributed to the failure of communism under Gorbachev. The aim of the Perestroika and Glasnost reforms was to restructure and strengthen the Soviet political and economic system and provide more freedom and democracy within the Soviet Union while strengthening Communism. However, these changes had achievedRead MoreThe Cold War And The Soviet Union980 Words   |  4 Pagesthe world was on. In the race for economic expansion, Americans loyalty and patriotism was tested influencing an urge to conform. However, the following events such as The Cold War, Containment, Domino Theory, Containments fai lure, Cuban Missile Crisis, and the Fall of Communism all contributed to the United States emerging as a world leader and a dominant economic power in the second half of the 20th century. The Cold War The United States and the USSR conflicting ideologies, policies, control ofRead MoreThe Vietnam War Was The Biggest Failure Of The 20th Century1628 Words   |  7 PagesThe Vietnam War The Vietnam War is one of the most controversial wars the United States participated in. Communism in the 20th century, was a huge threat to the U.S. It become a priority of the U.S. to stop the spread of Communism. In the late 1940s, the French struggled to control its colonies in Indochina - Vietnam, Cambodia, and Laos (history.state.gov). The U.S. saw that the French were struggling in south Vietnam so they decided to come and help France. They tried to support France and theRead MoreThe Policies Of Eisenhower s Vietnam And John F. Policy1688 Words   |  7 PagesEisenhower foreign policy was popularly known as the â€Å"New Look†. This policy aimed to maintain the American financial economy while Eisenhower was planning the Cold war and continue the containment of communism regime. Also, the â€Å"New look† policy relied heavily on nuclear weapons to stop communism. Therefore the policy was been assessed as being suppressing, rigid, and too dependent on brinkmansh ip (trying to achieve an outcome by pushing dangerous events to the brink) and massive retaliation (alsoRead More Democracy: An Analysis Essay1358 Words   |  6 Pagesonce remarked that â€Å"democracy is the worst form of government except all the others that have been tried†. In agreement with his statement, this paper will examine the problems of democratic governments using specific examples, and compare it to the failure of fascist governments in Nazi Germany and Italy and communist governments in the Soviet Union and China. Theoretically, democracy is a stable form of government where power is in the hands of the people. In a democracy, people have the libertyRead MoreEssay on United States Involvement in the Vietnam War769 Words   |  4 PagesInvolvement in the Vietnam War There are many reasons for American intervention in Vietnam whether it is political causes, economic causes or military causes. The Americans want to secure capitalism all over the world and get rid of communism. The French used to run Vietnam in a capitalist manner. After the Second World War France attempted to secure and control Vietnam once more. France refused to recognize the democratic republic of Vietnam that had been declared byRead MoreThe Utopia Of Communism : Why No Communist Country Has Been Successful1613 Words   |  7 PagesThe Utopia of Communism: Why no Communist Country has been Successful After it was conceived from the mind of Karl Marx, a Communist form of government has appealed to many societies, especially before and during World War II. Some of the strongest countries were built on the principles of Communism, such as the USSR. It came to become an enemy of American values, and challenged the political and civil ideas of that time. However, it quickly dropped out of popularity, and has come to only being

Financial Statements At Or Revalued Amount â€Myassignmenthelp.Com

Question: Discuss About The Financial Statements At Or Revalued Amount? Answer: Impairment of assets: Non-current assets are depreciated over economic life of the asset and are valued in financial statements at cost or revalued amount. At times carrying amount of noncurrent asset are not equal to recoverable financial accountingamount. According to IAS36- Impairment of assets an asset should not be carried at value greater then recoverable amount (Bond, Govendir and Wells 2016). According to IAS-36 Impairment asset recoverable amount is defined as higher of fair value and value in use. Where fair value is calculated by deducting cost of disposal IAS 36 impairment of asset was revised on 31st march 2004 In this statement we will discuss about recoverable amount, Value in use, Fair value in detail Recoverable amount: According to IAS 36 term recoverable amount means higher of the market value of an asset or the value in use. This concept of recoverable amount is use for determining the impairment of assets (Zhuang 2016). Calculation Financial Statements At Or Revalued Amount Financial Statements At Or Revalued Amount The recoverable amount of an asset is the higher of the two calculations shown below: Recoverable Amount = FV- Cost of Disposal Recoverable Amount equal to Value in Use Where: Fair Value: the amount for selling an asset in the market. Cost of Disposal: additional expenses directly attributed to the sale of asset. Explanation As per accounting standards enterprises are required to mark their balance sheet happenings where carrying amount of an asset is greater than the recoverable amount. IAS 36 concept is similar to the concept of cost or MV whichever is lower business inventories (Bond, Govendir and Wells 2016). Company is required to estimate fixed asset recoverable amount if it belief that asset value has been impaired: , the recoverable amount =l to its value in use if the asset's fair value less the cost of disposal not possible to be calculated. The recoverable amount of companies fixed asset=to its FV less the cost of disposal if company wants to sell its asset. If carrying amount is greater than the FV of an asset less its cost of disposal, or the asset's value in use then it is not necessary to calculate recoverable amount because asset is not impaired (Kabir and Rahman 2016) Definition The term value-in-use is equal to the PV of future cash flows derived from the asset. Companies will determine an asset's value-in-use in order to determine recoverable amount to calculate impairment loss (Laing and Perrin, 2014). Calculation Value-in-Use = Present Value of the Asset's future cash flow by putting it to use Explanation If a company believes asset's scale value will be impaired, it is required to perform an estimate of its recoverable amount. IAS 36 also provides guide lines to calculate value in use. Cash Flow: calculate future cash flows derived from the use of the asset. The accountant-analyst should also consider possible components while calculating expected cash flow Discount Rate: the calculation of value-in-use should consider the time value of money, which is depicted by the company's weighted average cost of capital. This rate is then used as discount rate (Khokan Bepari, Rahman and Taher Mollik 2014) Other: other factors are liquidity, or the ability to sell the asset There should be supportable assumptions for cash flow projections such as recent forecasts, planning budgets. Companies normally forecast budgets for only five years, but in this case company should make long term projections. The discount rate used when determining the present value of the benefits from the asset should be one of the stated below: company's weighted average cost of capital (pre-tax) incremental cost to borrow other markets borrowing rate Note: Value-in use is normally estimated using a conservative approach therefore; the value in use will be lower than its fair market value. Fair value of the asset: Fair market value is the price at which asset would sell in market. Where both the parties seller and buyer both are interested in the transaction and there is no pressure on either of them. There is an easy way to determine the selling price of the asset. One can do that by comparing the prices of identical items sold in the market. Examine product having any special characteristics. Study the history of the asset and consider its age Find at least five or four of the same or nearly similar items. These items must be as similar as possible to the item is to be valued in age, physical condition and history. By taking out the average selling price of the identical items sold. This will be calculated by dividing the aggregate selling price by the number of units sold... To double-check the fair market value of the item Take the sample item to specialist in the valuation of this particular type of item to confirm the fair market value. Cost of disposal The term cost of disposal is means the additional expense that company has to incur which proportionately attributed to the sale of an asset. Cost of disposal is aliability in future that is debited as an expense to the income statement when it is incurred(cost of disposal). IAS 36 Impairment of asset requires companies to calculate the cost of disposal when the company determines the asset's value has been impaired. If the fair market value cannot be determined by the company in this case companies can defer recording this liability until the cost can be determined. Reference Bond, D., Govendir, B. and Wells, P., 2016. An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting Finance,56(1), pp.259-288. Bond, D., Govendir, B. and Wells, P., 2016. An evaluation of asset impairment decisions by Australian firms and whether this was impacted by AASB 136. Kabir, H. and Rahman, A., 2016. The role of corporate governance in accounting discretion under IFRS: Goodwill impairment in Australia.Journal of Contemporary Accounting Economics,12(3), pp.290-308. Khokan Bepari, M., F. Rahman, S. and Taher Mollik, A., 2014. Firms' compliance with the disclosure requirements of IFRS for goodwill impairment testing: Effect of the global financial crisis and other firm characteristics.Journal of Accounting Organizational Change,10(1), pp.116-149. Laing, G.K. and Perrin, R.W., 2014. Deconstructing an accounting paradigm shift: AASB 116 non-current asset management models.International Journal of Critical Accounting,6(5-6), pp.509-519. Zhuang, Z., 2016. Discussion of An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting Finance,56(1), pp.289-294.

Merging Fundamental and Technical Analysis - MyAssignmenthelp.com

Question: Discuss about the Merging Fundamental and Technical Analysis. Answer: Introduction: Financial analysis is a procedure to examine the financial information of an organization to reach over a conclusion. This financial analysis mainly offers an outcome through reallocating the resources to the internal process and the operations of the company. Financial analysis is usually done by the organization and the management of the business to evaluate the financial performance of the business so that the alternations could be done in the strategies and the policies of the company (Zabarankin, Pavlikov and Uryasev, 2014). Further, financial analyst does the financial analysis to estimate the financial position and financial performance of the business so that they could make the conclusion about the investment and divestment from the company. Moreover, investors do the financial analysis to evaluate the financial position and performance of the business so that they could make the decision about the investment and divestment from the company. Thus, financial analysis is done by the stakeholders of the business to make various conclusions according to their nature. This process assists them to make better decisions about the companys performance. Financial analysis could be done through various bases. Ratio analysis, vertical analysis, horizontal analysis etc are the most common way to analyze the performance of the company through evaluating the financial statements of the business. In this description, ratio analysis has been done to evaluate the position of the Spirax- SARCO Engineering plc and the engineering sector of United Kingdom. Case overview: This report has been presented to the stakeholders of the Spirax- SARCO Engineering plc and the engineering sector or the stakeholders of the industrial engineering sector of the United Kingdom. For evaluating the performance and the position of the industrial engineering sector and the Spirax- SARCO Engineering plc, financial reports of the company has been analyzed and a study of ratio analysis has been performed over the company to reach over a conclusion. For this report, industrial engineering sector has been taken into the concern and the financial performance of the industry has been analyzed. Basically, in the context of this assessment, three well-known, and London Stock Exchange listed public companies from the United Kingdom who are strong competitors have been identified for comparing and assessing their financial performance. These companies are winnowed based on their share prices and market capitalization: Spirax - Sarco Engineering Plc - 4,129.28 listed on 03 June 2013 Hills Smith Holdings Plc - 1,041.79 Market Capitalization listed on 26 March 1969 IMI Plc - 3,598.24 Market Capitalization listed on 09 March 1966 Further, the financial performance of Spirax- SARCO Engineering plc has been analyzed in context with the financial performance and position of Hills and Smith and IMI PLC. Further, for analyzing the performance and the position of the company, ratio analysis study has been done. This report briefs about the various position of the company and the industry such as liquidity, efficiency, solvency, capital structure and profitability position. Industrial engineering sector: The Industrial Engineering Sector, also known as the manufacturing industry of the United Kingdom, has a long standing history from the late eighteenth century. During the early years of its establishment, the Industrial Engineering sector was having a great period of prosperity which highly contributed to Britains early economic growth. Further, the various reports and the statistics reports expresses that the Industrial Engineering sector contribution is around 6.7 trillion to the global economy. United Kingdom is ranked the ninth largest industrial nation contributing to ten percent of Gross Value Added (GVA) and forty-five percent of United Kingdoms exportation. In addition to this long standing industrial revolution, the Industrial Engineering sector represents sixty-eight percent of Business Research and Development and provides fourteen percent of business investments. In general, this revolutionary industry contributed approximately 455.6 billion of United Kingdoms POUND1,683 billion GDP in 2014 (27.1 percent) (Ward, 2012). Thus, the industrial engineering sector of the United Kingdom expresses about a great position in the international market. The performance of the industry is growing up rapidly and the future trends are also in the favor of the industry and expresses about a huge growth about the company. Company overview: For analyzing the performance of the industrial engineering sector of UK, Spirax- SARCO Engineering plc has been analyzed. This company is the leading manufacturing company of steam management system, associated fluid path technologies and peristaltic pumps. Head office of the company is in Cheltenham. This company is registered in FTSE 250. Following is the key financial figures of the company in last 5 years: (Morningstar, 2018) The changes into the financial performance of the company expresses about the positive chnages into the company. the growth of the company is continuouslly increasing. Further, the subsisiry companies of Spirax- SARCO Engineering plc are also performing well in the market (Ft, 2018). This company has its presence in international market as well and it is recognized for its quality by its customers. The main mission of this company is to enhance the market in the international level and it is also focusing over the customers loyalty of the company. Competitors overview: Further, the competitors of Spirax- SARCO Engineering plc has been analyzed which are Hills and Smith PLC and IMI PLC. Hill and Smith PLC is the manufacturing company of safety barrier system. This company also supplies the products into the international market. Head office of the company is in United Kingdom. This company is registered in FTSE 250. Following is the key financial figures of the company in last 5 years: (Morningstar, 2018) Further, the IMI PLC has been analyzed. This is the manufacturing company of engineering products of the company. This company has its online presence and it also supplies the products into the international market. Head office of the company is in United Kingdom (FT, 2018). This company is registered in FTSE 250. Following is the key financial figures of the company in last 5 years: (Morningstar, 2018) Thus, through the analysis over the 3 companies of Industrial engineering sector of the company, it has been analyzed that the performance of the industry is quite good in current scenario (Ft, 2018). Further, the financial analysis have been done over the companies to recah over a conclusion. Literature review: According to Weygandt, Kimmel and Kieso, (2009), financial reports of an organization contains balance sheet, income statement, changes in equity and cash flow statement of an organization. Further, it has been added by Weston and Brigham, (2015) that preparation of financial reports is quite mandatory for an organization. Moreover, it has also been added by Besley and Brigham, (2008) that financial reports assist the organization and its stakeholders to make various decisions about the policies, strategies, performance, investment etc. Bornholt (2013) has depicted into their study that all the financial reports express about the different financial position of the company. Income statement is relevant to analyze the profitability position of the company whereas the balance sheet expresses about the stability position of the company and the liquidity position is analyzed through the liquidity position of the company. Further, the financial reports could be easily analyzed through con ducting the various methods of financial analysis of the company. Moreover, it has been explained by Bierman (2010) that financial analysis is a procedure to examine the financial information of an organization to reach over a conclusion. Further, Fulin, (2011) has added that the process of financial analysis mainly offers an outcome through reallocating the resources to the internal process and the operations of the company. Moreover, the Elton et al, (2009) has explained that the financial analysis is usually done by the organization and the management of the company to evaluate the financial performance of the company so that the alternations could be done in the strategies and the policies of the company. Further, Barlow, (2006) has added in the study of financial analysis that financial analyst does the financial analysis to evaluate the financial position and performance of the company so that they could make the decision about the investment and divestment from the company. Moreover, it has also been added by Higgins (2012) that investors do the financial analysis to evaluate the financial position and performance of the company so that they could make the decision about the investment and divestment from the company. Further, it has also been added by Hillier, Grinblatt and Titman, (2011) that financial accounting is an area which analyzes and evaluates the financial transaction and the financial reports of the company (Lumby and Jones, 2007). Mainly, financial accounting takes the concern of collecting, analyzing and recording the data whereas the financial analysis takes the concern of evaluating those financial accounting reports to reach over a conclusion (Moles, Parrino and Kidwekk, 2011). Further, it has been added by Madhura (2011) that financial analysis is done by the stakeholders of the business to make various conclusions according to their nature. Moreover, this process assists them to make better decisions about the companys performance. In addition to this, it has also been added by Madhura (2014) that financial analysis could be done through various bases. Ratio analysis, vertical analysis, horizontal analysis etc are the most common way to examine the companys performance through evaluating the financial statements of the company (Nobes and Parker, 2008). Though, various contemporary methods are also there which evaluates about the financial performance of the company such as capital asset pricing method, dividend growth model etc. According to Lee and Lee, (2006), ratio analysis is the most used method of financial analysis as it is quite easier to calculate and depicts about the financial performance of the company. Lord, (2007) has depicted into his study that ratio analysis is one of the methods of financial statement analysis which is usually used by the management, CFO (chief financial officer) and the stock investors to evaluate and get the quick conclusion about the financial position and the performance of the company on various levels. Further, it has been added by Brealey, Myers and Marcus, (2007) that ratios could be categorized into various bases such as debt management ratios, solvency position ratios, asset management ratios, market value ratios, liquidity ratios and profitability ratios. Further, it has also been added by De Haan and Amtenbrink, (2011) that ratio analysis is a tool process which contains several features. Ratio analysis makes it easy for the organization and the investors to compare the financial performance with the competitive companies which are quite different in the size. Further, ratio analysis offers a quick outcome to the analyst about the financial performance and the position of the company (Krantz, 2016). Through the ratios study could also be done by the company in form of trend analysis to evaluate the various areas which could be deteriorated or improved by the company in a particular period of time. Though, it has been added by Kruth (2013) into his study that ratio analysis is a manipulative method to analyze the financial performance of a company. Ratio analysis does not take the concern of external factors and the non financial factors of the company. Financial statement contains various notes which are not studied by the investors and the analyst while investigating the financial statements of the company. Further, it has also been added by Kinsky (2011) that ratio analysis makes it confusing for the related parties to make a better decision about the investment, improvement, changes etc in the organization. Moreover, the study over ratio analysis expresses that the formulas of ratio analysis are slightly different is the studies and books of various financial analysts. It has been added by Horngren (2009) that contemporary methods are more relevant than the traditional financial analysis method. More, it has also been added by Kaplan and Atkinson, (2015) that ratio analysis and its outcome is not appropriate for a better decision. Further, the study of ratio analysis does not fit in the methods of financial analysis because it does not evaluate the financial position of the company in a good way. Application of theory: This report paper has been presented to evaluate the financial position and the performance of Spirax- SARCO Engineering plc. Financial performance of the business has been evaluated to analyze the position of the corporation in the industrial engineering sector of United Kingdom. For this report, study of ratio analysis has been done. This report explains that the ratio analysis study is quite important for all the related parties to evaluate and investigate the financial performance and the position of the company (Oliver and Schoff, 2017). This study assists all the related parties to make a quick and better conclusion about the situation and the recital of the company. For a better study and a better evaluation report, both the competitors have also been evaluated and the study of ratio analysis has also been done over both the companies: Description Formula SPIRAX-SARCO ENGINEERING PLC (1LNB) HILL SMITH HOLDINGS PLC (HILS) IMI PLC ADR (IMIAY) 2016 2016 2016 Profitability Net margin Net profit/revenues 0.160153156 0.062581 0.078937839 Return on equity Net profit/Equity 0.231753917 0.1455642 0.240795287 Gross Profit Gross profit/ revenues 0.76353314 0.369376 0.137417019 Return on assets Net income/ Total assets 0.140393519 0.0653266 0.0793208 Investment Ratios Price earnings ratio Market value price per share/ earnings per share 58.60502885 109.96967 39.66764526 Earnings per share ratio Net income/ weighted average share outstanding 1.652588556 0.4305732 0.966026588 Liquidity Absolute liquid ratios Absolute liquid assets/ current liabilities (Palicka, 2011) 2.081381011 1.0872483 0.994264959 Current ratio Current assets/current liabilities 2.774969174 1.6879195 1.482125789 Quick Ratio Current assets-Inventory/current liabilities 2.081381011 1.0872483 0.994264959 Efficiency Inventory turnover ratio Cost of goods sold/ average inventory 0.436825007 1.317092 1.462947799 Current asset turnover ratio Total sales/ total average current asset 0.459395592 0.7286832 0.547081352 Asset turnover ratio Total sales/ Average Total assets 0.243431621 0.2865556 0.259783018 Debtor's turnover ratio Net credit sales/ Average accounting receivables (Peterson and Fabozzi, 2002) 1.121801518 1.3820368 1.318637594 Assumption: It has been assumed that entire sales were on credit basis. Gearing Ratios Gearing % Long term liabilities / capital employed -0.156027358 0.2109493 0.293542943 Capital employed Total assets - current liabilities 701800 398200 1125900 The above table expresses about the financial performance and the various position of the company such as profitability ratios, investment ratios, liquidity ratios, efficiency ratios and gearing ratios. The above study expresses about the financial position of all the three companies and it also expresses that how the changes have taken place into the position of industrial engineering sector of United Kingdom. Profitability ratios: Profitability ratios express about the profit position of an organization. It is calculated to measure the success of the firm in earning and generating the firm. Further, these ratios express about the combined effects of debts and assets of the company (Phillips and Stawarski, 2016). Profitability ratios contain net margin, return on equity, gross profit and return on assets etc. all the profitability ratios express about the different position and the profits of the company. Net margin ratio measures the net profit of the company against the total revenues of the company. The net profit ratios of all the three companies express that the net profit of 2016 was 16.02%, 6.29% and 7.9% which expresses that all the three companies are earning the profits but the net profit margin of Spirax- SARCO Engineering plc is quite higher than the profit margin of other competitive companies (Ward, 2012). Further, return on equity ratio measures the net profit of the company against the total equity of the company. The return on equity ratios of all the three companies express that the return on equity of 2016 was 23.17%, 14.55% and 24.07% which expresses that all the three companies are earning great profits but the return on equity of IMI plc is quite higher than the profit margin of other companies. More, the gross profit and the return on assets of the company has also been analyzed to evaluate the profitability position of the company and it has been analyzed that the position of Spirax- SARCO Engineering plc is quite higher than the profit margin of other competitive companies. Investment ratios: Investment ratios express about the investment position of an organization. It is calculated to measure the investment opportunity in the firm. Further, these ratios express about the combined effects of debts and assets of the company. Investment ratios contain price earnings ratios, earnings per share ratios etc. all the investment ratios express about the different position and the opportunity of the investment in the company (Radebaugh, Gray and Black, 2006). Price earnings ratio measures the market value per share of the company against the earnings per share of the company. The price earnings ratios of all the three companies express that the price earnings ratio of 2016 was 58.60, 109.97 and 39.67 which expresses that all the three companies are earning the profits but the price earnings position of Hill and Smith is quite higher than the price earnings ratio of other competitive companies. Further, the earnings per share have also been analyzed to evaluate the investment position of all the three companies (Ross et al, 2008). The earnings per share ratios of all the three companies express that the earnings per share ratio of 2016 was 1.65, 0.43 and 0.97 which expresses that all the three companies are earning the profits but the price earnings position of Spirax- SARCO Engineering plc is quite higher than the profit margin of other competitive companies. Liquidity ratios: Liquidity ratios express about the short term debt obligation position of an organization. It is calculated to measure the position of the company to pay all the short term liabilities. Further, these ratios express about the combined effects of short term assets and short term liabilities of the company. Liquidity ratios include current ratio, quick ratio, absolute liquid ratios etc. (Ross et al, 2007). All the liquidity ratios express about the different position of the company in terms of paying the current liabilities (Voelkl and Fritz, 2017). Current ratio and quick ratios measures the current assets, quick assets in context of current liabilities of the company. The current ratios of all the three companies express that the current ratio of 2016 was 2.77, 1.68 and 1.48 which expresses that IMI PLC is managing the assets in a proper way, rest all the companies are paying extra cost to maintain the liquid position (Schlichting, 2013). Further, the quick ratios also express about the better performance of IMI PLC and explains that an organization should manage the current assets and current liabilities in such a manner that cost could be controlled by the company. Efficiency ratios: Efficiency ratios express about the working capital management position of an organization. It is calculated to measure the position of the company to manage the working capital of the company. Further, these ratios express about the combined effects of assets and the revenues of the company. Efficiency ratios includes inventory turnover ratios, asset turnover ratios, current asset turnover ratios, debtors turnover ratios etc. all the efficiency ratios express about the different position of the company in terms of managing the working capital (Seitzinger et al, 2010). Inventory turnover ratios, asset turnover ratios, current asset turnover ratios and debtors turnover ratios measures the total sales, cost f goods sold, inventory, assets of the company. The efficiency ratios of the company express about the better performance of Spirax- SARCO Engineering plc. This company has managed its cost and the working capital management in a better way. Gearing ratios: Further, gearing ratios express about the capital structure management position of an organization. It is calculated to measure the debt and assets of the company to manage the capital structure of the company. Further, these ratios express about the combined effects of assets and the debt of the company. Gearing ratios includes capital employed, gearing percentage etc. all the gearing ratios express about the capital structure position of the company in terms of managing the assets, debts and equity in a better way. Gearing percentage and capital employed measures the total assets, total liabilities and total equity of the company. The gearing ratios of the company express about the better performance of IMI plc. This company has managed its debt, equity and assets in a better way. Interpretation, conclusion and recommendation: Through the above evaluation, it has been found that the Spirax- SARCO Engineering plc, Hill and smith plc and IMI plc are performing better in the market due to a great growth in the industry and various innovations in the industry. Further, the interpretation, recommendation and conclusion of the report are as follows: Interpretation: Through the report and the analysis, it has been found that the profitability ratios express about the profit position of an organization. It is calculated to measure the success of the firm in earning and generating the firm. Through the study over all the three companies and its financial statement, it has been analyzed that the profitability position of an organization must be higher. The more, the profitability position of an organization would be, the more the comapny would be able to earn more. Through the analysis over all the 3 companies of industrial engineering sector, it has been found that the position of Spirax- SARCO Engineering plc is way better than the performance of other companies. Further, through this report, it has been found that the investment ratios express about the investment position of an organization. It is calculated to measure the success of the firm in terms of enhancing the investment in the companies. Through the study over all the three companies and its financial statement, it has been analyzed that the investment position of an organization must be higher. The more, the investment position of an organization would be, the more the investors would prefer the company. Through the analysis over all the 3 companies of industrial engineering sector, it has been found that the position of Hill and Smith plc is way better than the performance of other companies. Further, liquidity position of the company express about the current asset and current liability management of the company. Through the analysis over the liquid position, it has been analyzed that position of IMI plc is way better than any other companies due to better policies of the company to manage the performance. Further, the efficiency position of the company expresses the the Spirax- SARCO Engineering plc has managed the working capital in a better way than any other companies. Lastly, the gearing ratios express that the IMI plc has been managed the capitals structure in a better way. Recommendation and conclusion: Through the above study, it is recommended to the Spirax- SARCO Engineering plc to enhance the revenues and manage the expenditure of the company so that the investment position of the company could be better. Further, the company is also suggested to improve the market price through making few positive changes into the policies of the company and enhance the dividend of the companies. Moreover, the liquid position of the comapny is also required to be better. The company should reduce the level of the current asset to make a better and competitive liquid position as well as it also assists the company to reduce the level of the extra cost of the company. More, the efficiency position of the company has been analyzed and it is suggested to the company to make new polices for the turnover of debtors, current assets, total assets, debtors etc. so that the working capital of the company could be managed and the cost of the company could also be controlled. Moreover, the capital structure of the company has also been analyzed and comapny is suggested to make few changes into its structure to make an optimal capital structure. Thus, it is recommended to the company to make few positive changes into the financial performance, financial strategies ad policies of the company to manage the performance of the company in the industry. Further, the company must analyze the competitive policies and make few changes according to them to make a competitive environment. 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