John Donne :: essays research papers

Essay on John Donne John Donne, a master at his work, was born some time during the year 1572. The exact date of his birth date is unknown. Donne accomplished many and experienced many things in his life. He got married secretly, went to prison, and wrote many poems that are world known John Donne attended both Oxford and Cambridge universities, and he also attended Lincoln's Inn. At Lincoln's Inn Donne studied law, but never practiced it there after. Donne did not get degrees at any of the universities that he attended, but he did obtain a mind full of knowledge. As Donne grew up as a child, his parents raised him up in a Catholic household. During the 1590's, Donne abandoned Catholicism and looked toward to become an Anglican. In Donne's later years he wrote two Anti-Catholic poems (Pseudo-Martyr and Ignatius his Conclave). Donne later became a preacher. He had a metaphorical style which made him a great preacher. Donne received a degree of divinity from the University of Cambridge and was made a royal chaplain. In 1601 John Donne secretly married a woman by the name of Ann More. This act ruined his employment at that time. Donne was appointed private secretary to Sir Thomas Egerton in 1958. Ann More was, ironically, the niece of Lady Egerton.The secret marriage diminished Donne's hope for his advancement with Sir Thomas Egerton. John Donne was even imprisoned by Sir George More for marrying Ann More. One of the most traumatic experiences that Donne faced was the death of his wife. Ann died while giving birth to a still born in August of 1617. John loved his wife very much and mourned the death of her loss. They were married to each other for fifteen and a half years. Donne pays tribute to her on her grave stone by inscribing words such as "a most excellent and beloved woman, a most loving and chaste wife, a most dutiful and forbearing mother".

Religion and Identity Essay

The question often arrived what is religion? There are more than one answer to this depending on one’s culture, identity, ethics and beliefs. Religion can be found in different cultures and throughout the whole period of human history. There is evidence that shows signs of religion such as animal spirits in art and human burials that suggest the belief in life after death. There have been many different answers and definition to what religion is (Van Voorst, 2013). According to Robert E. Van Voorst (2013), religion is â€Å"Pattern of beliefs and practices that expresses and enacts what a community regards as sacred and/or ultimate about life (pg.5). In addition to that, there is the separation of church and state. In America, the right to freedom of religion is very central to the American democracy that it was preserved in the First Amendment to the Constitution along with other rights such as freedom of speech and freedom of press. The country’s founders restrict the separation of church and state. This is due to the prohibition against government regulation or endorsement of religion. According to American Civil Liberties Union of Florida (2012), the standard of separation has been regularly tested. In early America, even after church establishment ended, some state legislators sought to revive the compulsory taxation of citizens to support religious institutions. In this century, public schools were once required to teach the biblical version of the earth’s and humanity’s creation, while the scientific theory of evolution was prohibited. Throughout our history, sectarian advocates have tried to inject religious exercises, such as daily prayer, into the public schools. At times, religious minorities, including members of â€Å"cults,† have been discriminated against because of their beliefs. And today, many citizens in many communities disagree about whether a model of the infant Jesus in the manger, which officially promotes certain religious beliefs over others, should be displayed on the steps of City Hall. The courts must frequently consider where to draw the line that separates church and state ( ¶5). Religion is one of our most critical tradition and constitutional rights and must stand against anything that would challenge the standard of separation, which protects that freedom. Reid Temple African Methodist Episcopal Church was the group that I visited. Though it is not my own religious practice, it qualifies as a religion. Driving up to the church there is a sign that has the name of the church boldly written in LED lights. The welcome message display in red across the board says â€Å"All Are Welcome†. Inside of Reid Temple church they have a Cross as their symbol posted high where all can see. The service was nice with the choir singing praises to God and special prayer request were taken. After the service, I spoke with the Senior Pastor about his church and what exactly do they believe in. I was informed that their slogan is â€Å"Aiming to Please through the 5 E’s. This came from II Corinthians 5:9 which states â€Å"So whether at home or away, we make our aim to please Him. (RSV). The 5 E’s were described to me as â€Å"Evangelism which is sowing the seed of God’s Word in the hearts of all people. Empowerment which is bestowing love and guidance on believers to disciple them in fulfilling their purpose. Education which is knowing the will of God through study and obedience of His Word. Economics which is flowing in financial prosperity according to God’s wealth principles and Expansion which is growing in all ministry areas to reach the growing harvest of souls† ( Washington, L. Personal interview January 13, 2013). The cross is a reminder of their pledge and it also reminds them that Jesus died for their sins and to Him all praise is given. Buddhism also has a symbol such as the Dharmachakra which is the wheel of the law. The eight spokes on the wheel represents the eightfold path. The wheel is one of the most important Buddhist symbols because it symbolizes the teachings of Buddha. According to Thames & Hudson (2004), The wheel’s motion is a metaphor for the rapid spiritual change engendered by the teachings of the Buddha: the Buddha’s first discourse at the Deer Park in Sarnath is known as the â€Å"first turning of the wheel of dharma.† His subsequent discourses at Rajgir and Shravasti are known as the â€Å"second and third turnings of the wheel of dharma.† The eight spokes of the wheel symbolize the Noble Eightfold Path set out by the Buddha in his teachings. The wheel also represents the endless cycle of samsara, or rebirth, which can only be escaped by means of the Buddha’s teachings. And some Buddhists regard the the wheel’s three basic parts as symbols of the â€Å"three trainings† in Buddhist practice: The hub symbolizes moral discipline, which stabilizes the mind. The spokes (usually there are eight) represent wisdom which is applied to defeat ignorance. The rim represents training in concentration, which holds everything else together ( ¶ 2 & 3). In the early days, the Dharmachakra not only symbolizes the teaching of Buddha but also Buddha himself. Today, it appears in the art of every Buddhist culture (para 5). Practicing religion can shape an individual and group identity. Take Buddhism for example that is followed by many Indians. This religion practices the Four Noble Truths and the Eightfold Path. The Four Noble Truths teaches that: 1. All life is suffering- this suggests that all beings experience suffering and that it can be ranged from great physical and mental pain to mild emotional unhappiness. Suffering originates from anger and sadness but then happiness is also suffering because it comes and goes. 2. The cause of suffering is desire- This suggests that humans want what they do not have and should not have. Humans’ personal desire for happiness is the cause of the suffering. 3. To end desire is to end suffering -which suggests that putting all craving and personal desires to an end will therefore end the suffering. This breaks the negative karma which leads to the 4th Noble Truth 4. To end desire- one must follow the Noble Eightfold Path. The Eightfold Path is : 1. The right to understanding which ends the concept of what one think is reality and see reality as it is. 2. The right to intention is where people must want to change before they can actually be change. 3. The right to speech which is speaking the truth at all times. 4. The right to conduct which means no killing, stealing, drinking, intoxicants and being sexual. 5. The right to livelihood which is working and living a life that does not cause others harm. 6. The right to effort which is developing a conscious free from craving. 7. The right to mindfulness which is to be aware and mindful and 8. The right to contemplation which is the deepening of mindfulness that leads to concentration and insight may be obtained (Van Voorst,2013). Practicing the Four Noble Truths and The Eightfold Path teaches and shape the followers of Buddhism. It is a way of life for them which teach them to take time to find out who they are and what they are all about. It is a guideline to ethical and menta l development. Shinto culture is another example of how practicing religion and shape individuals or groups. The people of Japan practices Shinto and is rooted in the people there and their traditions. The Shinto gods that are called kami are sacred spirits. These spirits can take form in things such as wind, rain, mountains, trees, rivers and fertility. Shinto religion believes that when a human dies they become a kami and is given back to their families and ancestral kami. There not a right from wrong in Shinto and their faith is based on being optimistic. The Shinto faith is blended with other beliefs such as that of Buddhism and Daoism. It does not have a founder, written documents, formalized ethics, system of beliefs, scripture or an organized system of theology but with the blend of Buddhism and Daoism, the Japanese culture now have a system of beliefs, written documents, founder, ethics and all that it was lacked before. It is still a central religion of Japan (Carroll, 2012). Shinto grounds are very sacred and behavior must be proper at all times. There are no food or drink allowed and there must be silence or hushed voices. Purity is important in Shinto and there is a certain procedure in washing your hands on mouth. Purity is important in pleasing the kami which brings a happy life. Van Voorst wrote that â€Å"Cleanliness in particular signifies a good character and freedom from bad external influences. In Western societies one hears the proverb â€Å"Cleanliness is next to godliness.† In traditional Japanese society cleanliness—of body, mind, and spirit, both ritual and practical—is godliness. To be in harmony with the kami, one must keep one’s person, home, and business clean† (pg 198). Religion has always been connected with government and politics. The Western world has a history of influence from Catholicism and Protestant rift. It is very similar to the history of some parts of Southern Asia that have been influenced by Islam. The interconnection of both religion and government is to be expected because both are regulating social behavior. During the past century, religion has been less influential. Modern governments have been influenced by Democratic philosophy which put importance of the average man and a sharing of the world’s resources. These ideas continue to shape modern society in different ways. For example, technology has drastically changed the nature of life and work. Traditional religious systems are gradually becoming less important. The trend towards secularism continues but has not been nearly as pronounced in the United States and regular church attendance started to decrease in the 1960’s and early 1970’s. It increased again post World War II period. There is only a small majority of Americans who thinks religion is of any importance in their lives (Federal Funding of Faith-Based Services, 2011). Many people know what religion is until they are asked to define it. Religion is a worldly thing, across many boundaries in human experience and so that makes it a bit hard to define. There are a few different definition of religion and many have different religious experience and understanding of Ultimate Reality. At Reid Temple, I asked the lady sitting next to me if she could tell what Ultimate Reality means. She said to her Ultimate Reality meant a personal relationship with God. In a different culture Ultimate Reality could mean spiritual growth or spiritual path. Not everyone is all about religion though. There are some cultures who prefer that their beliefs not to be subject as a religion but as a faith or teaching. There are some who argue that they are not religious but they are spiritual. References American Civil Liberties Union of Florida. (2012). Church and state. Retrieved from http://www.aclufl.org/take_action/download_resources/info_papers/3.cfm Carroll,B.J. (2012). Shinto basics. Retrieved from http://www.world-religions-professor.com/shinto.html Federal Funding of Faith-Based Services. (2011). Religion and public policy. Retrieved from http://www.newsbatch.com/religion.htm Thames & Hudson. (2004). Reading Buddhist Art: an illustrated guide to Buddhist signs and Symbols. Retrieved from http://www.religionfacts.com/buddhism/symbols/wheel.htm Van Voorst, R.E. (2013). World relg. Student edition. Wadsworth, Cengage Learning. USA Washington, L.P. (2013). Reid Temple Senior Pastor. Personal Interview January 13, 2013.

Financial Ratio Analysis - 3801 Words

Home FINANCIAL RATIO ANALYSIS Financial Ratio Analysis William F. Slater, III ACC 529 – Accounting for Managerial Decision Making University of Phoenix Week 5 Assignment for ePortfolio Michael Greenen, C.P.A, C.F.P. - Instructor July 1, 2003 Table of Contents Table of Contents 3 Abstract 4 Introduction 4 Memorandum 4 Profitability of Sample Company 5 Sample Company ROI for 2000 5 Sample Company ROI for 2001 5 Stock Performance 6 Activity of Sample Company 7 Leverage of Sample Company 7 Liquidity of Sample Company 7 What Is Necessary to Assess the Company? 8 What Ratios Have the Most Value? 10 What Other Factors, Beyond Ratios, Need To Be Considered? 10 How Would†¦show more content†¦This is a positive sign for investors and could help in part to account for the overall increase in stock price. Liquidity of Sample Company The liquidity of a company is the ability to meet its loan obligations as it relates to its current assets and its current liabilities (Marshall, 2002). Appendix B shows that we have analyzed three important liquidity ratios: 1) Current Ration, 2) Acid Test, and 3) Working Capital. Of these three, the best indicators of liquidity, when trying to show trends, are the Acid test and the Current Ratio. A current ratio of 2 and an acid test of 1.0 are considered adequate liquidity (Marshall, 2002). Sample Companys Acid Test numbers for 2000 and 2001 were .84 and .79, and its Current Ratio numbers for 2000 and 2001 were 1.45 and 1.54. Each sets of these ratio figures indicate that Sample Company could possibility have some difficulties in meeting its financial obligations, so these numbers will be impor tant to watch closely in the future. What Is Necessary to Assess the Company? Besides doing this detailed financial ratio analysis, it would critical to research the annual reports for 1999 – 2001 and read the explanatory notes and other financial information. There we would find an inside look at organizationShow MoreRelatedFinancial Ratio Analysis : Financial Ratios Analysis1634 Words   |  7 Pages UNIVERSITY OF HOUSTON CLEAR-LAKE HADM 5233: FINANCIAL MANAGEMENT II ASSIGNMENT: FINANCIAL RATIO ANALYSIS UHCL Honesty Code â€Å"I will be honest in all my academic activities and will not tolerate dishonesty.† Uday Sekhar Reddy Mareddy Read MoreFinancial Ratios And Financial Ratio Analysis1797 Words   |  8 Pages Abstract The paper concentrates on the basic types of financial ratios and the importance of the financial ratio analysis. It discusses about the significance of these ratios and how these ratios are helpful in drawing conclusions and monitoring the firm’s performance over period to period and to compare the performance to that of the competitors. Financial ratios of PepsiCo is discussed over a period of three years from 2012 to 2014 from the respective year’s incomeRead MoreFinancial Ratio Analysis1498 Words   |  6 PagesGriffith University, Gold Coast | Group Assignment for 2204AFE Financial Institutions Management | Comparative Analysis of ANZ and Westpac | | s2758329, s2762895, s2773847, s2784238Diamond, E., Dong, G., Huang, Y. amp; Lin, B.Due: 5th April 2012Tutor: Sonja Kobinger | | | The following report is a brief comparative analysis of two of Australia’s largest deposit-taking financial institutions (FI), Australia and New Zealand Banking Group Ltd. (ANZ) and Westpac Banking CorporationRead MoreFinancial Ratio Analysis3810 Words   |  16 PagesHome FINANCIAL RATIO ANALYSIS Financial Ratio Analysis William F. Slater, III ACC 529 Ââ€" Accounting for Managerial Decision Making University of Phoenix Week 5 Assignment for ePortfolio Michael Greenen, C.P.A, C.F.P. - Instructor July 1, 2003 Table of Contents Table of Contents 3 Abstract 4 Introduction 4 Memorandum 4 Profitability of Sample Company 5 Sample Company ROI for 2000 5 Sample Company ROI for 2001 5 Stock Performance 6 Read MoreFinancial Ratio Analysis11306 Words   |  46 Pages------------------------------------------------- FINANCIAL RATIO ANALYSIS PROCTER amp; GAMBLE | PFIZER INC JANIE PRINCE FINANCE 405 | FALL 2012 ------------------------------------------------- Company Backgrounds Procter amp; Gamble William Procter and James Gamble, immigrants from England and Ireland respectively, met when they married into the Norris family. 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Limitations of Ratios Accounting Information Different Accounting Policies The choices of accounting policies may distort inter company comparisons. Example IAS 16 allows valuation of assets to be based on either revalued amount or at depreciated historical cost. The business may opt not to revalueRead MoreThe Value Of Financial Ratio Analysis1616 Words   |  7 Pagesdetermining the state of the economy. In this paper, I will describe the methods used to assess the macroeconomic environment, discuss the value of financial ratio analysis in the context of common stock investing and compare intrinsic value and market price. Macroeconomic environment Unlike their counterparts during the great depression, financial policymakers today have enormous statistics at their disposal that slightly makes decision making easier. Significantly, the lack of data during theRead More Financial Ratio Analysis Essay1420 Words   |  6 PagesBefore beginning an analysis of a company it is necessary to have a complete set of financial statements, preferably for the pas few years so that historical trends can be obtained. Ratios are a way for anyone to get an idea of the financial performance of a company by using the information contained in the financial statements. Ratios are grouped into four basic categories, liquidity, activity, profitability, and financial leverage. This document will use a variety of these ratios to analyze the firmRead MoreFinancial Ratio Analysis Report1667 Words   |  7 PagesFINANCIAL RATIO ANALYSIS REPORT The fiscal year 2004 was a relatively soft year for Barnes Noble, Incorporated (BN). Blockbuster nonfiction books that came out during the year may not have come from the company, but business remained strong. This is due to the million of books already in the market, including phenomenal fiction hits The Da Vinci Code, The Five People You Meet in Heaven, and The Rule of Four, and thousands of new releases during the year. This claim was supported by the

American Creation by Joesph Ellis Free Essay Example, 1000 words

This uniqueness was what President Abraham Lincoln expressed when he called America, â€Å"the last, best, hope of earth†. The two-party System, which then was a novel idea, is the most shining legacy left behind by the founding fathers. A Constitution with virtues of ambiguous sovereignty, a nation without a state religion and the creation of the first geographically large republic are the other legacies. But the inability to abolish slavery and the failure to reach a just settlement with the native Indians are two tragedies, which still has repercussions in the body polity of the United States, according to Ellis. The author’s thesis emphasizes on every thing from the strange strategy that won the Revolutionary war to the great wisdom and genius that made possible a constitution and a large republic. Ellis goes through some historical situations very dramatically and raises some strange questions. How much did the element of luck play in the victory of American Revolution over Great Britain, in Valley Forge? George Washington was commanding an ill trained continental army in 1775. It was with this ill equipped army, of a group of amateurs as generals, that he fought the better equipped British Army for six grueling years and won the revolutionary war. We will write a custom essay sam ple on American Creation by Joesph Ellis or any topic specifically for you Only $17.96 $11.86/pageorder now Fall back slowly and then strike unexpectedly was Washington’s strategy which resembles the modern guerilla war strategy. The war at the Valley Forge was a real turning point during the winter of 1777-78. Outer Philadelphia was a great farming area. But the farmers refused to sell wheat and grains to their army, because they were paid poor. So they were selling food products to the British army who paid them in pounds sterling. About two thousand soldiers died of starvation and cold. But before the whole citizenry ended up siding with the British, lured by pounds sterling, Washington deployed his soldiers in an arc around the country side and took control of the country side. It worked and turned out to be decisive in the victory of the Revolution. Like Washington’s strategy, it was James Madison’s wisdom that made the United States of America possible, argues Ellis. After the war there were separatist arguments for each of the former colonies to go their ways. A big republic was impossible. All republics were small like Swiss cantons or Greek city states. A republic wouldn’t work on a large mass of land. It was James Madison’s wisdom and genius that countered these arguments convincingly in the constitutional convention, argues Ellis.

slaverybel Morrison’s Beloved as Chronicle of Slavery...

Morrison’s Beloved as Chronicle of Slavery?nbsp;nbsp; Stories written in our present time about slavery in the eighteen-hundreds are often accepted as good accounts of history. However, Toni Morrison’s Beloved cannot be used to provide a good chronicle in the history of slavery. While writing about black female slaves and how they were the most oppressed of the most oppressed, Toni Morrison, herself as a female black writer, has a very bias view, as seen by many others. Beloved is written in a completely nonlinear fashion that makes it very difficult to view as a good account of history; the jumping around that it goes through makes it very difficult to place oneself into the story. Due to this jumping around that the book proceeds†¦show more content†¦She writes about how the â€Å"villains† only talk in a perspective that will provide â€Å"self-serving records of their crimes†, and how the victims in the story remain, only to continue to tell their story by forgetting what actually happened (Wolff, 105). Neither the â€Å"bad guys† nor the â€Å"good guys† tell exactly what happened. Stories, or histories, are never correct or exact because they are always passed on. Everybody adds their own two-sense or changes it to fit their interpretation of what really happened. Wolff states that this is the only way of getting to the actual truth, that this communal effort will actually lead back to the real story. She goes on to say that the union of women, specifically Morrison and her reflection on the work of Harriet Beecher Stowe, is what is needed to tell the real account of what happened; â€Å"to liberate the slave woman from the bondage and isolation of her silence† (Wolff, 105-106). How could the story of a woman, let alone the story that is passed on through a community of women, remain unbiased? Obviously, it will be fueled by feminist views. Crouch states that feminism had an influence of writing â€Å"that was charged with corroborating the stereotypes of b estial black men† (Crouch, 39). Beloved is a book â€Å"designed to placate sentimental feminist ideology, and to make sure that the vision of black women as the most scorned and rebuked of the victims doesn’t weaken† (Crouch, 40). Therefore, there is no availability for Morrison’s book to

Understanding Oil and Gas

Question: Describe about following points..The route of your product through the oil and gas industry sectors. The impact, if any, by International Oil Companies (IOCs), National Oil Companies (NOCs) and Government agencies. The factors that may effect the demand and supply of these products. Answer: Introduction Oil and gas industry is known as one of the largest in the world in terms of revenue generation. This report presents a brief overview of oil and gas industry. It presents a discussion about the products derived from natural gas and crude oil such as ammonia and petrol. Additionally, the report focuses on the impact of international oil companies, national oil companies, and government agencies on oil and gas industry. Moreover, this report provides the factors that affect demand and supply of ammonia and patrol, which are selected in this report. Oil and gas industry: It is a well-known fact that oil and gas industry is the biggest sector of the world in term of monetary value. This industry is assumed as a global powerhouse in terms of job creation and in generating revenues (Hilyard, 2012). In this way, the oil and gas industry is a major contributor to the growth of OPEC nations like Dubai, Kuwait etc. Natural gas: Natural gas is a highly flammable product. It is a mixture of methane, nitrogen, hydrogen sulfide, carbon dioxide, helium and other higher alkenes. It is used to make fuel, paint, LPG, ammonia etc. Ammonia: Ammonia is an inorganic product that is derived from Natural gas. Ammonia was discovered for first time in 1774 by a chemist Joseph Priestley. It is produced by Haber process from nitrogen and hydrogen (Roney, 2011). Firstly, the natural gas is cleaned from sulfur and then mixed with heated water and supplied it to reactors, where itis passed to catalyst beds. This stage is known as gas vapor conversion. After this stage, a mixture of methane, hydrogen, carbon oxide (CO) and carbon dioxide (CO2) are produced by the reactor. After then, this mixture is mixed with atmospheric oxygen, nitrogen, and vapor in appropriate proportion. Atthe end of this stage, carbon monoxide (CO) and carbon dioxide are detected from the mixture. After this, themixture of nitrogen and hydrogen is passed with high pressure of atmospheres to the high cooling area, and then it turns into liquid form. This form of ammonia is used to cleaning, deodorizing and bleaching activities. It also used for the pr oduction of fertilizer and chemicals (Liu, 2013). Crude Oil: Crude oil is a compound of hydrocarbons and other organic materials. It is processed to produce different products like Petrol, diesel, jet fuel, heating oil, kerosene and many more products (Shah, 2011). Petrol: Petrol is a liquid product that is produced by the refining of crude oil. The crude oil is heated to 900 F temperature in a Coker and boiled at 104 F to produce petroleum. This boiling process is conducted at a temperature of 1112+ F. This process uses hydrogen to remove Sulfur products and converts it into naphtha molecule, which is the end product of petrol. At the end of this process, heavy residual oils are converted into end product as petrol by using of delayed coking unit. This end product (i.e. petrol) is used for internal combustion of the engine for cars, bikes, boats, trucks and more. Upstream, Midstream, and Downstream in oil and gas industry: Oil and Gas industry is very big. It can be divided into three key areas such as upstream, midstream and downstream. Upstream: Upstream is also known as EP (Exploration and Production) sector. Upstream tends to identify the underwater and underground fields of gas and crude oil. It also includes exploration of drilled wells and operating the wells to recover oil and gas on the surface. Midstream: It is an operational link between the upstream and downstream units. Examples of midstream unit are Kinder Morgan and Williams Companies, which provide resources to Midstream and Downstream units. Downstream: Downstream tends to filter of raw materials that are obtained from the upstream phase. In other words, it is a phase, in which natural gas is purified and crude oil is refined. It also includes the marketing and distribution of crude oil and natural gas products like petrol, diesel, lubricants, kerosene, heating oil, LPG as well as in other forms of petrochemical products. The impact of International Oil Companies (IOCs), National Oil Companies (NOCs) and Government agencies (GA): International oil companies significantly affect oil and gas industry as well as its products. For example, if these oil companies produce a low quantity of crude oil and natural gas than the prices will hike in the whole world. This way, all the products related to this industry will become expensive. It is because the international oil companies control over all supply of petroleum products of the world. In the same manner, the National Oil companies will also affect the prices of oil and petroleum products in countries, as they rely on IOCs. NOCs will need to increase the price with a hike in crude oil prices by IOCs. In this concern, Government agencies keep high-level control on domestic oil and gas sector. Government agencies frame regulations related to health and environment safety for regulating this sector. These agencies control the trade of oil and gas by enforcement of regulations and taxes. It also designs different rules and waste regulations for controlling this industry. Factors that may affect the demand and supply of the selected products: There are various factors such as; price, the cost of production, natural conditions, technology, transport, government policies, prices of related goods etc, which affect the demand and supply of a petroleum/gas and related products (Moon, 2013). Descriptions of these factors are as below: The price of Crude: If the price of crude oil increases, the price of Ammonia and Patrol will also increase. The increase in the price of these products will affect the demanded quantity of these commodities negatively. In other words, there is an inverse relation between the price and demand. At the same time, from the point of view of oil and gas companies, the increase in the price of oil and gas products will lead to increase in the supply of these products (Mendes, 2011). Because, when prices increases than the suppliers of these products try to earn more revenue. For this, they will increase the supply of these products. The cost of production: If the cost of production of these products increases, then the profitability decreases. In this way, the seller will increase the price of its products. Increase in price will lead to a decline in demand (Ruttan and Thirtle, 2014). Natural conditions: Natural condition also affects the demand and supply of the products. In the rainy season, the demand for fertilizer products increases. The demand of Ammonia will rise because it is used in the production of fertilizer products. Technology: Technology is an important determinant of demand and supply. Advanced and best technologies decrease the cost of production and enhance the quality of the product (Meijer et al, 2012). This will lead to an increase in demand for products. It is because the cheap and qualitative products are more demanded in the market. So, the improved technology will increase demand and supply of these products. Transport: It an important factor, as it directly affects the demand and supply of the product. If there is a good transport facility for transportation of these products, then the supply of the products will increase (Desjardins, 2014). Due to poor transportation condition, the supply of the product will decrease and the demand for the product will increase there. Factor prices of input products and their availability: If the inputs like equipment, raw material, labor, and machines are available in enough quantity at lower prices, then it will increase the production of goods (Zinnert, 2010). This increased quantity of these products will increase the supply of the product. For example, if these factors are available nearby the manufacturing plants of Ammonia and Patrol, then it will be helpful in reducing the cost of manufacturing. As a result, it will increase the production and supply of the product. Government policies: The different government policies like monetary policy; fiscal policy etc. also have a greater impact on the supply and demand. If the taxes and excise duties are increased than the cost of production also gets increased (Nechyba, 2010). In this case, the companies will decrease the supply of the product due to low-profit margin. On the other hand, if the price of the product is increased by the manufacturing firms to maintain its revenue, then the demand for that product will generally decrease. Prices of related goods: This factor refers to the price of substitute goods and complementary goods. If the price of these goods is increased, then suppliers will increase the supply of products to earn more revenue. But, if the customers are switched to lower priced product then, it will decrease the demand for these products, Conclusion From the above report, it is concluded that Oil and Gas industry is an important sector of the economy of every country. Upstream, downstream and midstream are the important areas to recover the oil and gas on the surface. It is also identified from the above discussion that there are different factors affecting demand and supply of oil and gas products like the price of crude oil, change in government policies, change in technology and quality of transport facility etc. Additionally, IOCs, NOCs, and Government agencies also affect Oil and Gas industry in a great manner by the formulation of different policies and tax rates. References Desjardins, R. (2014) Rewards to skill supply, skill demand and skill match-mismatch: Studies using the Adult Literacy and Lifeskills survey. UK: Lund University. Hilyard, J. (2012) The Oil Gas Industry: A Nontechnical Guide. USA: PennWell Books. Liu, H. (2013) Ammonia Synthesis Catalysts: Innovation and Practice. UK: World Scientific. Meijer, M., Haar, M., and Lousberg, J. (2012) The Demand Supply Governance Framework. USA: Van Haren. Mendes, P. (2011) Demand Driven Supply Chain: A Structured and Practical Roadmap to Increase Profitability. UK: Springer. Moon, M. (2013) Demand and Supply Integration: The Key to World-Class Demand Forecasting. USA: FT Press. Nechyba, T. (2010) Microeconomics: An Intuitive Approach with Calculus. USA: Cengage Learning. Roney, N. (2011) Toxicological Profile for Ammonia. USA: DIANE Publishing. Ruttan, V., and Thirtle, C. (2014) The Role of Demand and Supply in the Generation and Diffusion of Technical Change. UK: Routledge. Shah, S. (2011) Crude: The Story of Oil. USA: Seven Stories Press. Zinnert, S. (2010) Integrative Long-Term Supply Chain Demand Planning. UK: Logos Verlag GmbH.

Accounting Earnings and Cash Flows

Question: Discuss about the Accounting Earnings and Cash Flows. Answer: Introduction: Longreach Ltd has adopted the international accounting standard and the objective of the standard in relation to the impairment of assets is prescribing the procedures to ensure that the assets are carried at not more than recoverable amount. Since the assets are described as impaired under this standard, it is required by the entity to recognize the loss arising from impairment. There are several types of assets included in the entity in both the profit and non-profit organization. Such assets are segmented into various section and those employed for carrying out the current operation are deemed as the current assets (Bevis 2013). Fixed assets on the other hand serves the entity for longer period. An entity may comprised of several intellectual assets other than current and fixed assets such as trademark, copyright assets and many more. It also comprised of assets emerged from the acquisition or due to the growing popularity among consumers are also included along with the goodwill and brand. The organization can increase its revenue by directly employing such assets. There are also intangible assets, which are not physical and cannot be measured in units. In the books of account, such assets are maintained at the amount purchased (Briloff 2013). There is a significant decline in the real value of the assets with the time. The company at the real time value applies impairment and the decreased amount is adjusted in the impairment account. Decline in the value of asset leads to loss, which is viewed as loss due to impairment. There are certain common factors applicable to the numerous assets and several factors influences the asset value. Value of machinery, equipment and several tools is based on the manufacturing capability and usage. It is viewed that the upcoming g production capability of these assets might decrease due to their increased usage in the production (Dechow 2012). The older equipment and machineries decreases in the value and eventually it becomes obsolete because of the emergence of modern machineries and equipment. The value of land gradually increase due to various factors such as over population, new cities emergence and transformation of the locality. Due to the alterations in the choice of consumers and modern technology emergence, the trademark along with the patent right tends to fall in value. Goodwill is falsified in the event of acquiring any acquisition and it serves as an additional value (Gray et al. 2013). The goodwill imbibed in purchasing the assets falls significantly when there is the reduction in the value of the assets. There is need to the financial report as per the requirement of the stakeholders because the stakeholders have different interest over the organization. Government and the accounting standards signifies huge importance in the interest of shareholders. It is desired by the stakeholders that financial reports must represent the true and fair value of the asset and liabilities of the listed companies. Due to the emergence of the modern machineries at the lower price, the market value of the machineries has turned out to be half of the real value cost. There can be the case when the organization has acquired the machinery before five years. If the cost price of certain machinery is presented in the financial report, it would indicate that the asset are overvalued. This would not represents the true and fair value of the assets. Valuing the assets of the organization are considered an efficient investment option by the shareholders (Maas et al. 2016). Shareholders of the company may take faulty investment decision if the shareholders rely their investment decisions on the overvalued financial statements, if the organization does not represents the fair and true value of the assets. The accounting board for gaining the shareholders interest has introduced the impairment concept. Introduction of the government policies and the accounting standards outlines the instruction for the impairment of the assets along with the general financial statements. When the carrying amount of the assets exceed the recoverable amount, it is required to carry out the test of impairment at that time. In the books of accounts of the assets, the carrying amount is recorded. The purchasing cost of the assets represents such amount and it is depreciated in relation to the appropriate technique of depreciation (Huian 2013). The asset fair value can be selected as the amount recovered after all the anticipated expenses of the assets are reduced by the organization. Asset value can be regarded as another recoverable amount. The net cash flow of the entity anticipated to be collected from the assets is referred to as the value. The higher value among the two can be chosen in accordance with the IAS 36. If we consider IAS 36, the loss arising from the impairment is measured by reducing the recoverable amount of assets from their carrying amount (Aasb.gov.au 2017). Since the book value of the asset is reduced, the impairment loss attributed to the respective assets are debited. In addition to this, the maintenance of the accounting amount of the assets has decreased the value. Such impairment loss is adjusted in the income statement in the year-end along with the profit and loss account. The loss is representing as the non-operating loss in the income statement. The overall value of the shareholder is decrea sed if the impairment loss is credited in the revaluation surplus account. In case of the assets that are generally considered as the Cash Generating Units that encompasses the goodwill, which has resulted from the acquisition of the assets. The impairment loss is not adjusted accordingly in this case. The impairment loss can be calculated as per the aforementioned method if the overall value of the cash-generating unit requires being impaired. Moreover, the loss is adjusted with the Goodwill account. In the event of making adjustment with the goodwill, certain amount is left, and then the remaining amount is aligned with the CGU assets (Rappaport 2012). This is relied on the book value of the assets. Reference and Bibliography: Aasb.gov.au. (2017). Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPapr07_07-07.pdf [Accessed 18 Jan. 2017]. 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