For all the Tea in China by Sarah Rose Essay Example for Free

For all the Tea in China by Sarah Rose Essay â€Å"For all the Tea in China -How England Stole the Worlds Favorite Drink and Changed History † as the subtitle foreshadows the story already. Before I had even read the book I assumed it would be a journey of betrayal, action and only closed off to the events that occur res as Robert Fortune underhandedly takes chinas precious tea right from underneath theyre own noses. But little did I know that it Sarah Rose has incorporated all the events essential to the to cultivation of tea in the mid Nineteenth-century. In Audition to this Historical non-fiction story that may be boring to others, or as one of my fellow classmates would put it â€Å"Ive been spacing out throughout the book† I Believe that Sarah Rose Has painted a Vivid image of the nineteenth century, with out a single page, paragraph, or sentence wasted with unnecessary knowledge to the readers view from how the Royal Horticultural Society of England and the East India Company affected Englands economy, traditions were also created based off of tea shipment such as the Annual Tea race. And how World Changed Englands East India Company to officially close down. Robert Fortune, a Scottish gardener, botanist, and worlds best plant hunter, famously known for his The British tea Heist which Sarah Rose writes passionately and was inspired by Scott Anderson in this book, and in audition famous for bringing back and documenting new oriental plants from China to England. Such as lovely tree peonies, and the uniquely streaked ornamental plant Hosta Fortunei. which was named after Robert fortune himself along with some other oriental plants found under his own travels not during the multiple expeditions he was sent to do by the East India Company. Fortune while undergoing the process in sending India seeds that are healthy and germinated.. but how?Fortune had realized that transporting the seeds in side packages while shipped doesnt stop the life cycle so the seeds that were in anything but soil were unsuccessful because the environment was unsuitable for the next step of its life which was the sapling. Buy having the tea seeds in the layers of soil and in the warden cases protected from sea spray forced the seeds to germinate with little watering because, of the warden cases the water that evaporated would just collect and drop back to the tea plant because of the morning due. Which has never been done before and changed the way of transporting seeds across seas for decades to come, and also solved the problem of transporting larger plants such as towering red woods and,England were now able to transport a whole species in there easy to tend to seed forms. The reason why Fortune had to take on this task of stealing Chinas tea secret was because. In the early nineteenth century China and Britain had a shaky relationship of trading Englands opium that China was so addicted to for theyre finest tea which grew high among the finger like mountain karsts of Wuyi in the Fujian provenances. But it was China who Threaten to grow and sell there own opium, and Britain couldnt let that happen because England relied on that finance to fund there tea budget And so if China wanted to play that way so will the British, therefore they sent Fortune. Poorer Qualities of tea already existed trying to compete with chinas finest tea in the Experimental grounds a part of the Himalayas in India run by the British. But could not duplicate the process of making tea itself or how its grown with out the precious knowledge china was keeping from them world. When Fortune succeeded it had Put Britain at the center of trade because there companies would produce safer qualities of tea because the Chinese where slowly killing people with dyes and pigments used in paints to color green tea, which sealed Britains choice with the already popular black tea. And also the hold of opium production as well as tea production, and civilization helped. Fortunes First 12 month period trip was spent travelin g to the Zhejiang and Anhui provenances for Green Tea. He had to disguise himself as a well paid merchant which wasnt enough to get noticed but held enough respect he usually was given. He needed to do deceive the local Chinese and Tea producers in order to get the information but there was no detail in how he did it, which I thought it would be a lot more exhilarating to know the master plan of how he was able to deceive so easily and to be trusted with that much valuable information, and most importantly needed the information of how to process and grow tea or it would be useless to get the thousands of seeds and saplings necessary to start a growing tea profitably with out having a clue of doing so and let them die. Also During Fortunes Expedition it would be impossible to travel the multiple provenances of China with out a Guide or Help to carry his Warden cases by him self hence he had to hire servants a collie whom preferred to be called that and Wang a business negotiator which served well but was easily influenced into trouble to a common trait that most Chinese did at the time it was called the â€Å"Squeeze† which was extracting money illegally from someone trying to earn a few bucks. And handful of trouble came from Fortunes servants betrayal because Fortune would treat them as any regular employee as they made mistakes or bad decisions that would jeopardize his goal he would punish them fairly but backfired. Another tradition the Chinese have Is called Face which is the equivalent of dignity or prestige, but the actual way it works is still really foggy due to lack of detail about this subject. So when Fortunes two servant were hired to serve him and he relied on them a lot which gave them a large amount of face, but because of a situation when his collie pulled a â€Å"Squeeze.† It Jeopardized his masters safety but it was fortune who settled the feud by having him return the money and apologize which humiliated Collie that caused him to lose face. During Fortunes second expedition to retrieve black tea from the Steep mountain of Wuyi, since both teas were so different and should be treated as two different plants there for Fortune was ordered to take two separate trips. Fortune had hired another servant named Sing Hoo he wasnt was a collie but he was strong and he was intelligent but not a businessmen man, the new loyal servant of Fortunes â€Å"had once been in the service of a high-ranking mandarin affiliated with the imperial family at Peking.† and also bore arms of his former office of the imperial court signified as a flag and serves as a passport throughout the country, it was a gift from the a former master. And during this second trip Fortune disguised himself as a high ranking mandarin from beyond the Great Wall of China which I thought would be hasty compared to lying low on the first trip. Also I thought it was amusingly clever that he chose the people from beyond the Great wall because, they were known for being abnormally taller height than the rest of the population in china which gave an explanation for Fortunes height while infiltrating China. If not for Fortunes treacherous task and constant awareness no matter what might of happened to make Fortune hate the country, he could probably hate every single thing in china but I doubt he would never be able to hate Chinas beauty from there great dense bamboo Forests off theyre proud mountains to the peaceful city of serenity named Zhejiang. Fortune was also a naturalist who was touched, and changed, by China and its treasures largely unseen by western eyes, in which found even more beautiful than the landscape of his own country. Green Tea was a failure because they had withered even before it had reached India of the improper shipping technique. Even though it had failed Black tea was a success which Changed history Forever in Britains favor Trade wise. I had also thought even though its not a picture book I would recommend a diagram of important people of the East India Company and The Royal Horticultural Society of England. And definitely a Map of Fortunes Travels Both trips to India and Maybe that trip to Japan.

Packaging :: essays research papers

Successful and Unsuccessful Packages   Ã‚  Ã‚  Ã‚  Ã‚  Budweiser package and Foster package does more than they contain and protect products. They also tell their great deal about the people from different countries that buy the products, as well as the people from different countries who sell the products. In addition, both packages are made in different countries, and both packages have differences and similarities.   Ã‚  Ã‚  Ã‚  Ã‚  Budweiser package is manufacture in America and contains various bottle sizes and various can sizes. Budweiser bottle is small and easy to hold and the cap is easy to open. In addition, it is made in thick glass so when it drops from the knee down it does not crack, and it ¡Ã‚ ¯s appearance is attractive to people. Budweiser can is made in different beer quantity from 6 ounces to 24 ounces. Moreover, it encloses different item quantity from case of 6 to case of 24.   Ã‚  Ã‚  Ã‚  Ã‚  On the other hand, Foster package is manufacture in Australia and contains one bottle size and one can size. Foster bottle is large and hard to hold and it is hard to open. In addition, it is made in thin glass so it ¡Ã‚ ¯s easy to break when it drops. Foster can contains only one beer quantity, which is 6 ounces and doesn ¡Ã‚ ¯t enclose various options to meet people preferences. In addition, Foster only has one item quantity, which is case of 6 that most people prefer case of 24. Budweiser package is a successful selling product in America because the price of the products is affordable to buy and it on advertisement (billboard, radio, and TV). In addition, the company and the product are popular to US citizen. Besides, Budweiser alcohol level is low around .02, which most American prefers that level of alcohol to be. For example, in New York Time Magazine say most American like to drink Budweiser because they say it tastes better and the alcohol level is no t dangerous for driving. On the other side, Budweiser package is a failure in Australia because it considers a foreign product and Australian prefers to have higher alcohol level.   Ã‚  Ã‚  Ã‚  Ã‚  Foster package is a failure in the United State for the reason that it ¡Ã‚ ¯s a foreign product and doesn ¡Ã‚ ¯t meet US citizen preferences. In addition, it contains lack in advertising and contains high alcohol level. Besides, Foster company and products are unpopular in the US, so the percentage of selling the product really low.

Dark Matter: a Basic Understanding

Dark Matter: A Basic Understanding Introduction Many people, from the inquisitive, to those involved in the astronomical sciences have questioned the existence of Dark Matter. While it is called many things today, I will continue to refer to this unseen substance by its original name, Dark Matter. As it is still a theory being researched today to validate its existence and make-up, the discovery of dark matter was first presented to the world some time ago by two very intelligent astronomers. In coming to understand this matter, some of the most common questions we find ourselves asking are: What is it?And, How was it discovered? The most difficult question we all seem to face is â€Å"Does it really exist? † While quite tricky, this question is one that each of us have to conclude an answer to on our own. Therefore to start, I will address the more common questions first, and then I will provide my own answer to the question of its existence. Dark Matter: What is it? When fir st being introduced to Dark Matter, the first question we find ourselves asking is what is it? In and out of the scientific community dark matter is commonly referred to as â€Å"the source of extra gravity,† or the â€Å"mysterious form of matter that is unseen. A more refined scientific definition for dark matter is â€Å"a nonluminous, undetectable, invisible material in the universe that makes up about 70%-80% of its mass. † In short, dark matter is an unseen form of material that contains its own gravity which affects its surrounding materials; i. e. gases, stellar, and celestial bodies. With truly dedicated astronomers and cosmologists focused on the structure and composition of the cosmos, this brings me to explaining how this invisible matter called â€Å"dark matter† was discovered. Dark Matter: How Was It Discovered?In 1932 and 1933, astronomers Jan Hendrick Oort and Fritz Zwicky were the first to postulate the idea of the existence of dark matter. In studying the stellar motions of stars within the galactic plane of the Milky Way galaxy, Astronomer Jan Oort observed that the rotational velocity of stars on this outermost part of the galaxy (galactic plane) was actually increasing versus decreasing. This in itself presented a reason to question this stellar movement further since, based on Newton’s law of gravity, the rotational velocity of stars should steadily decrease the further they are from the galactic center.Oort continued his observations on stellar motions, while astronomer Fritz Zwicky carried out his studies and observations on galactic clusters and how they remained gravitationally bound. During Zwicky’s observations, here is where dark matter was discovered on a much more massive scale. Through Zwicky’s research, he found that there needed to be 10 times as much mass as observed in the form of visible light in order to keep galaxies clustered together. This observation was clear to Zwicky, as i t had been to Oort, that there was a large sum of mass existing within the cosmos that was simply â€Å"non-visible. At this point, astronomers simply referred to this material as â€Å"missing mass. † Being that the peculiar stellar movement counters Newton’s law of gravity, and occurs in the outermost part of the galaxy known as â€Å"galaxy halo’s,† both Oort and Zwicky hypothesized that this â€Å"dark matter† must exist in a spherical form that enshrouds the outermost part of galaxies, thus keeping them from flying apart. In understanding how this matter was discovered, this brings me to the final and most important question, and that is determining if it really exists.Dark Matter: Does It Really Exist? The evidence supporting the existence of dark matter today is very convincing, yet in the scientific community, it is still a theory. Giving a definite answer as to whether it exists is solely up to the individual. Despite this, astronomers ar e continuing to find more convincing information that supports the dark matter theory. For instance, an August 2012 article published in â€Å"Science News Today,† discussed evidence of dark matter filaments (fibers or threads of dark matter) discovered by astronomer Jorg Dietrich and his colleagues.Dietrich and his colleague’s x-ray observations of a pair galaxy clusters called Abell 222/223, revealed a ribbon of hot gas between the clusters. This, along with the galaxies distorted shapes and how light was bent was the first hint of the presence of dark matter. Continued observation of the galaxy clusters revealed a thick cord of invisible matter with a mass comparable to that of a small galaxy cluster. Dietrich states that gas can account for only about 9 percent of that mass, dark matter appears to make up the rest. Conclusion:In understanding that dark matter is an unseen material which contains its own gravity, the theory alone provides a unique way of understandi ng the structure of our universe. Most importantly, the work of astronomer’s Jan Oort and Fran Zwicky set the stage for astronomers to seek out and understand possible unseen forces at work within our cosmos. This is exactly what astronomer J. Deitrich and his colleague’s did. While there is a host of significant evidence supporting the theory of dark matter, Deitrich and his colleague’s evidence was eye-opening.In concluding if it actually exists, in my opinion its presence is already confirmed. Works Cited Jones, Andrew, and Daniel Robbins. â€Å"The Universe’s Dark Matter and Dark Energy, String theory for dummies. † Dummies. com. Dummies. biz. 2012. Web. 14 Nov. 2012. NASA. What is Dark Matter? Washington: Institute for Global Environmental Strategies, 23 Feb. 2012. Web. 14 Nov. 2012. Powell, Devin. â€Å"Dark Matter Filament Illuminated. † Science News Magazine 11 Aug. 2012: 9+. Print. White, Mark. â€Å"Rotation Curves. † Berkel ey Astronomy Department. University of California at Berkeley. 2011. Web. 15 Nov. 2012.

Innocence in Daisy Miller, My Antonia, and the Great...

Innocence in Daisy Miller by Henry James, My Antonia by Willa Cather and the Great Gatsby by F. Scott Fitzgerald. It is not as easy as it seems to distinguish who is innocent and who is not. Innocence is a cultural concept which is usually confusing. An act that is naà ¯ve and normal in one society can be a public disgrace in another. Then a question comes to mind: What is innocence? Challenging the norms of a society makes a person totally wicked? What spoils or preserves innocence? The word innocence is ambiguous. It has double vision because people put different masks on their faces for different occasions. Innocence is also one of the themes that can be focused on three American novels: Daisy Miller by Henry James, My Antonia by†¦show more content†¦When Winterbourne meets her, she is dressed in white white which is also a sign of innocence. Her eyes reveals that she is an innocent, naà ¯ve girl but her acts talk different. She is blamed for being a flirt. Miss Miller and her family are accused of not acting in a moderate way. It is true that her parents neglect her. Her mother h as no control over her and her father is in somewhere in America. Europeans are those who try to belong to European culture. She easily goes out with different men. She says dinners are given for her by gentlemen in America and she is a terrible, frightful flirt. She talks to foreigners as if she know them for years. She is always self-confident and natural. While walking with Giovanelli, she does not try to get rid of Winterbourne. She just likes the companionship of men, to draw their attention on her. These are all strange for so-called sophisticated Europeans who like gossiping and labelling. One thing to bear in mind is that if somebody does something bad, s/he tries to do it in private, try to keep it as a secret. Miss Miller does not show any sign of embarrassment in her acts. In the book Also Spoke Zaustra Nietszche says that some people try to hide it but the dog called lust would grin in their eyes. Winterbourne says the young girls eyes were singularly honest and fresh. She also tells Winterbourne that she introduces her friends with her mother. If her intention was wicked, she would not do that.Show MoreRelatedEssay Prompts4057 Words   |  17 PagesFaustus Orlando Don Quixote A portrait of the Artist as a Young Man A Gesture Life Rosencrantz and Guildenstern Are Dead Ghosts The Scarlet Letter Great Expectations Sister Carrie The Great Gatsby The Sound and Fury Gulliver’s Travels Sula Heart of Darkness The Sun Also Rises Invisible Man Their Eyes Were Watching God Joe Turner’s Come and Gone The Things They Carried King Lear The Turn of theRead MoreBrief Survey of American Literature3339 Words   |  14 PagesBrief Survey of American Literature 1. Beginnings to 1700 Great mixing of peoples from the whole Atlantic basin Bloody conflicts between Native Americans (or American Indians) and European explorers and settlers who had both religious and territorial aspirations - Native American oral literature / oral tradition - European explorers’ letters, diaries, reports, etc., such as Christopher Columbus’s letters about his voyage to the â€Å"New world†. - Anglo (New England) settlers’ books, sermons

Essay on Imagery in Lycidas - 893 Words

Imagery in Lycidas Lycidas, a poem written by John Milton as a memorial to Edward King, a classmate at Cambridge, reflects Miltons reverence for nature, his admiration of Greek Mythology, and his deeply ingrained Christian belief system. In Lycidas, Milton combines powerful images from nature and Greek Mythology along with Biblical references in order to ease the pain associated with the premature death of King. King drowns at sea in the prime of his life and Milton is left to make sense of this tragedy. Milton not only mourns the loss of a friend; he is also forced to face his own mortality. Milton questions the significance of writing poetry when he will inevitably die. Milton copes with the subject of death by insisting on†¦show more content†¦/ Bring the rathe Primrose that forsaken dies. / The tuft Crow-toe, and pale Gessamine, the white Pink, and the Pansie freakt with jeat, / The glowing Violet (141-145). Miltons use of imagery taken from nature is common in Pastoral elegies. Pastoral e legies are written in order to memorialize a friend or acquaintance that has deceased. Pastoral poetry is also written for rural people whose lives revolve around nature. Therefore, Milton composes a poem in which nature is intricately weaved into the fabric of the story. Milton is also alluding to the necessity of a Christian burial for King when he writes, And purple all the ground with vernal flowers (141). At a traditional Christian funeral flowers are placed on the ground or thrown on top of the casket of the deceased. Milton seems preoccupied with the fear that King will not receive a proper Christian funeral. At the beginning of Lycidas Milton writes, He must not flote upon his watry bear/ Unwept, and welter to the parching wind, / Without the meed of som melodious tear (11-15). Kings remains are lost at sea and therefore Milton insists that Kings death needs to be properly mourned. Milton is also forced to realize his own mortality in writing a memorial to a contemporary. Milton writes, For we were nurst upon the self-sam hill, / Feed the same flock, by fountain, shade,Show MoreRelatedJohn Milton s Lycidas Uses Fruitful And Fertile Imagery1643 Words   |  7 PagesMilton’s Lycidas uses fruitful and fertile imagery to describe the watery death of his collegiate companion. Water in this poem functions both as it normally does, describing rebirth in a true baptismal fashion, and in an alternate way, in reference to the drowning and death of Edward King. The poem also takes time to discuss the malicious actions of the English clergymen, poetically described in traditional pastoral imagery, so in this way it is similar to what Milton does with the water imagery. BothRead MoreA Critique on Lycidas Written by John Milton1206 Words   |  5 PagesLycidas is a popular, well-known poem, which was written in the early 1630s by John Milton. The poem is written in the style of pastoral elegy and is dedicated to Edward King a friend of John Milton who drowned out at sea. About 100 years after the poem had already been well known, Samuel Johnson responded forcefully by writing a critique that has also become well renowned. Samuel Johnson, who wrote the English Dictionary, questions the worth of Lycidas. According to Johnson, poetry is an art formRead MoreLycidas Analysis1492 Words   |  6 PagesAn Analysis of John Miltons â€Å"Lycidas† Milton’s Lycidas is a poem in the form of a pastoral elegy written in 1637 to mourn the accidental death of Milton’s friend Edward King. The theme of the elegy is mournful or sadly reflective. Though lyrical, it is not spontaneous, and is often the result of deliberate poetic art. The elegy is a conscious work of art, and not a spontaneous expression of sorrow. The elegiac poet engages himself in discursive reflections. Death, the primary theme of most elegiesRead MoreLycidas1529 Words   |  7 PagesWhat Happens in â€Å"Lycidas† 1–5 The poet complains that he is unready (= â€Å"denial vain, and coy excuse†) 6–36 No matter, Lycidas was a poet and his death must not pass without song. I too shall die one day and want someone to sing for me. Moreover, Lycidas and I grew up and made poetry together, to the delight of many. 37–49 â€Å"But O the heavy change now, thou art gon†: nature languishes in Lycidas’s absence. 50–63 The nymphs were powerless to save him, as Calliope was powerless to save her sonRead MoreEssay on Lycidas1266 Words   |  6 PagesThe Great Die Young In the pastoral elegy, Lycidas by John Milton, the author uses plants and flowers to set the mood of the story and express his sorrows for his lost friend Edward King. The quote, â€Å"Live your life to the fullest because you never know if your going to wake up the next morning† describes Milton’s idea that anything could happen at a given instant and nothing is certain. Milton is grieving over his lost friend and uses plants and flowers to represent the mood he is feeling. EdwardRead More Lycidas: Poetry and Death Essay3788 Words   |  16 PagesLycidas: Poetry and Death  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚  Ã‚   Living in a period of important religious and cultural flux, John Miltons poetry reflects the many influences he found both in history and in the contemporary world. With a vast knowledge of literature from the classical world of Greek and Roman culture, Milton often looked back to more ancient times as a means of enriching his works. At other times, however, he relies on his strong Christian beliefs for creating spiritually compelling themes and deeplyRead MoreAnalysis Of The Poem Lycidas By Paul J. Alpes1754 Words   |  8 Pagesmade the assertion that Milton’s poem â€Å"Lycidas† follows the traditional pastoral conventions, for instance, Samuel Johnson recognized the poem as a traditional pastoral because it depicted an idealized life of rural leisure. Moreover, he claims that Milton’s pastoral poem is â€Å"easy, vulgar and therefore disgusting; whatever images it can supply are long ago exhausted and its inherent improbability always forces dissatisfaction on the mind† (89). Milton’s â€Å"Lycidas† denounces the traditional pastoral conventionRead MoreA Formalistic Reading of John Miltons Lycidas2679 Words   |  11 Pagesliterary man who wrote the greatest English epic, is not true and justifiable. My purpose of writing this research paper is to criticize his world-famous elegy – Lycidas. Milton after two years living in Horton, in the November 1637 when his poetic exercises and studies were finished, took a trip to Italia and wrote Lycidas to elegize the death of his friend â€Å"Edward King† _ four years younger than Milton, was full of genius, and was chosen by the order of the king as an assistant professorRead MoreParadise Lost Analysis1958 Words   |  8 Pages(December 1608 – November 1674), an English poet, polemicist and civil servant, tell the Christian story of the creation of the Earth, the fall of Satan and the Fall of Man. As a puritan, Milton, who had already attacked the Church for its corruption in Lycidas (1637), give this classical Christian tale puritan traits (such as the protrayal of Eve as a dedicated worker). The passage under study is taken from Book 9 of Paradise lost. In this book, the narrator focuses on the disobedience of Adam and Eve.Read MoreSaul Bellow Seize the Day the Water Imagery5255 Words   |  22 PagesWater Imagery in Seize the Day Saul Bellows Seize the Day is one of the most profoundly sad novels to be written since Tender is the Night. On this day of reckoning, during the seven hours or so that comprise the action of the novel, all the troubles that constitute the present condition of Wilhelm Adler descend upon him and crush him, leaving him penniless, alone, and in such profound misery that one can hardly imagine his going on. He is, as he says, at the end of his rope. This has been one

Five Phases of Project Management Essay - 1332 Words

Week 3 Assignment – Five Phases Project Management Strategy November 5, 2012 Five Phases of Project Management Life cycle management is a business management approach that can be used by all types of businesses (and other organizations) to improve their products and thus the sustainability, employing the principles of project life cycle – the five phases of project management, which consists of, initiation, planning, execution, monitoring, and closure. Iniation Phase The first phase of a project is the initiation phase. During this phase, a business problem or opportunity is identified and a business case providing various solution options is defined. Once the recommended solution is approved, a project is initiated to deliver the†¦show more content†¦This phase is the basis for the successful execution of the subsequent Executing phase. The planning phase is also the phase where, definition of work packages, detailed planning, clarification of responsibilities, risk analysis, and interfaces are defined. Project Planning marks the completion of the Project Plan –i.e., no work is left uncovered. Execution Phase Execution. This is where the project team does the work to crate the final deliverables of the project. It is the largest part of most projects and it goes far better if adequate time was taken to properly plan the work of the project (Reynolds, 2009). Resources tasks are distributed and teams are informed of responsibilities. This is a good time to bring up important project related information (Project Plan Execution, 2009). During the Execution phase, the project manager spends a considerable amount of time in communication making sure the resources (people, equipment and materials) are available to do their work and know what work needs to be completed. There is a significant amount of work in this phase, as a project manager works to juggle many aspects of the project. During this phase, youll use all of your management skills to implement and manage cost and quality, risks and change, and several other factors (Reynolds, 2009). Monitoring The next phase of the Project management life cycle is monitoring. Successful Project Management Principles amp; Controls are summarized as three main methods;Show MoreRelatedControlling Triple Constraints Of Scope, Time And Budget1425 Words   |  6 Pages controlling triple constraints of scope, time and budget. Project managers need measurements to manage a project’s outcome and in my view, we cannot manage anything if we cannot measure. The measurements like cost and time are easy to measure using quantitative technique. It is a challenge to measure intangible benefits and need qualitative method or mixed method. Project Management Methodologies There are many proven project management methodologies are available today for organizations to achieveRead MoreProject management Essay963 Words   |  4 PagesProject Management Recommendation Cali Hadafow OPS/571 May 12, 2014 Project Management Recommendation Piper Industries Corporation Project Management Recommendation Dear Project Manager, In response it is to your previous E-mail with the attention of the projects of Juniper, Palomino and Stargazer. The team is found and analyzed the three projects, assessed the risk that each project contains as well as returns on investment (ROI). There are many aspects one should thinkRead MoreProject Management Life Cycle Description Essay1295 Words   |  6 Pagesthe project team will utilize the project management life cycle to ensure the projects forward movement. 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Quadrants 3: Contains Extreme Project Management (xPM), in this approach both project goal andRead MoreProject Management Principles Of A Project Manager Essay1319 Words   |  6 PagesIntroduction Construction projects have always been a very important part of human civilisation. For handling a construction project there need men, money, machinery, material and management. The project would be successful when the project manager has these five variables under control. The key to project success is to pick the right project manager. A right project manager is the person who manages the triple constraints (cost, quality and time), scope and safety for the project to be planned in a correctRead MoreProject Management Is The Application Of Tools, Skills, Techniques, And Knowledge1690 Words   |  7 PagesAccording to Project Management Institute, project management is the application of tools, skills, techniques, and knowledge to successfully run project activities and subsequently meet the project goal and the required result (PMI, n.d.). Project management has informally been in practice in a business world for centuries and our ancestors have been utilizing this philosophy in doing business and/or commencing on plans and ventures for a very long time. But, project management, formally, emergedRead MoreProject Management Has Five Basic Processes That Guide A Project1341 Words   |  6 Pages1. Explain project scope management in terms of its processes. Project scope is defined as all the work that goes into the project â€Å"Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines† (Schwalbe, 2011). So project scope management is the processes required to define and control the processes to ensure that all work required, and only the work required for completing the project successfullyRead MoreThe President Of A Company1402 Words   |  6 Pagesthat all projects requests are asking to include their project management methodology in their proposal, which they do not have. They just have few templates. The methodology has been requested for more than a year, but due to personal interests of executives, it has been delayed. The president requested that within six month they a project management methodology. The previous year, a consultant was brought for a three hrs training stating the importance and benefits of project management, an enterpriseRead MoreEssay about Profit Comes from Innovation695 Words   |  3 Pagescontinually find ways to accommodate more consumers, increase profits, and reduce costs. This is done by an innovative process that begins with the three phases of the managed front end and the five phases of new product development (NPD) (Product Innovation Educators, 2012). Each of the phases is then followed by a gate meeting to decide if the project should continue (Product Innovation Educators, 2012). There are many checklists and rating systems that can be used at the gate meeting. However, it shouldRead MoreThe Algeria East West Highway Essay1267 Words   |  6 Pagesmotorway construction project in Algeria, with most construction completed by 2015. The project of a six-lane highway across Algeria was launched in 2007, and is claimed to be one of the largest publi c works projects in the world. The project s cost was more than US$ 11.2 billion. It was scheduled for completion in the fourth quarter of 2009, but it was delivered behind schedule by five years. The megaproject has generated over 100,000 jobs for its implementation. The project will cut travel times

Impairment Loss Joint Ventures

Question: Discuss about the Impairment Loss for Joint Ventures. Answer: Introduction: Before understanding the concept of impairment loss it is very important to know the meaning of the word impairment. It is basically a drop in the value of an asset as reflected in the balance sheet. The said word connotes to those set of assets which has a long market but the value of such an asset in the market has devalued significantly. Thus in simple terms the difference between assetss carrying amount or a cash generating unit and the actual recoverable amount is termed as impairment loss. Impairment happens only of assets and the accounting standard that spells out the same is IAS 36 Impairment of Assets. For the same it is very important to understand how carrying amount is calculated (investopedia.com, 2016). The amount of an asset which is recorded in the balance sheet of a company after reducing the same with the depreciation and the impairment loss accumulated is termed as carrying amount. The broad category of asses which fall under this purview are assets such as goodw ill, plant and machinery, investments in subsidiaries, joint ventures, buildings and other intangible assets. The main aim of the said accounting standard is to ensure that the true recoverable amount of the assets of a company are known to the investors and the shareholders of the company which would further enable to determine the true worth of the company. As per the accounting standard it is mandatory that the provision for the same is duly made under the head impairment loss (iasplus.com, 2014). The amount is treated as an expense in the income statement of the company and is reduced from the value of the respective asset while disclosing the same in the balance sheet. The said standard applies to all the assets except the following mentioned below simply because there are separate standards which deals with these assets. They are: Inventories IAS 2 Construction contract assets IAS 11 Deferred tax asset- IAS 12 Employee benefits- IAS 19 Financial assets such as financial lease- IAS 39 Investment properties that are carried at fair value- IAS 40 Agricultural assets carried at fair value- IAS 41 Insurance contract- IFRS 4 Non-current assets which are held for sale- IFRS 5 Upon completion of every Financial Year or triggering of any predefined date / period, it is mandatory for every entity to carry out a test of impairment in spite of no apparent sign of the same. There are various indications (external and internal) of impairment which enable an enterprise to decide whether to impair the asset or not. Factors such as a demur of the market value, technological, economical or changes in the legal system which has a negative impact, increase in the market interest rates or an imbalance between the net assets of the company and the market capitalization wherein the inclination is towards a higher net asset value of the company are all factors external in nature. Further internal factors such as obsolescence of the asset, assets held for sale, the performance of the company is worse or in case of mergers and acquisitions if the carrying amount of the assets is greater than the carrying amount of the investees assets are also contributory to the impairment of assets. If there seems to be indication of impairment then it is very crucial to revisit the life of the asset, method of depreciation to be used and residual value (accaglobal.com, 2014). For example where an asset is held for sale then the carrying amount of the said asset should be revised to the amount that would be recovered on sale of the said asset rather that the future cash flows that the said asset would generate. However the said standard not only tells about the accounting for the diminution in the value of the assets but also deals with situations wherein the impairment loss may be reversed as well. The said amount should be reversed only to the extent of the depreciated historical cost of the asset that would have been had the said asset not been impaired. Apart from the reversal with regards the revalued asset, the impairment loss that is being reversed is recognized in the profit and loss account. After the same is done the depreciation for the future period should also be accounted for. One exception to the reversal of impairment loss is that the same is not applicable in case of goodwill. IAS 36- Impairment of assets, states certain disclosure requirements. They are as under: Disclousure By Class of Assets (IAS 36.126) As per the said disclosure requirement it asks for disclosing the impairment loss which is being recognized and the loss which is being reversed in the profit and loss account. The line item(s) of the statement of comprehensive income, the losses due to impairment recognized and reversed on the revalued assets in other comprehensive income are also to be disclosed under the said sub-heading. Disclousure ByReportabe Segment(IAS 36.129) The reportable segments of the company under segmental reporting also has various assets, therefore the disclosure of the recognized and the reversed impairment losses if the assets of the segments are to be disclosed. Other Disclosures If the loss of impairment or reversal is of substance then the same should be disclosed as per IAS 36.130. The disclosure would be the circumstances due to which such a reversal or recognition is being done, the amount, the asset to which is being impaired or reversed, the cash generating unit and the allocation of the individual amount to the class of assets. Further to this if the recoverable amount is determined as the balance of the fair value and the cost of selling the asset then IFRS 13 should be applied for determination of the fair value of the asset (pwc.com, 2014). As per the Australian Accounting Standard Board, impairment of assets is described under standard AASB 136 which is similar to the International Accounting Standards. Fort he Australian Companies or the companies registered in Australia, the same is applicable on or after January 1st, 2005. There are times when it is not possible to determine the impairment amount of assets of a company individually. In such a situation a concept of cash generating unit (CGU) arises wherein the recoverable amount of the CGU to which the impaired asset belongs is determined. If the situation is so then the amount of impairment is first and foremost allocated to the goodwill and then the remaining impairment amount is allocated to the assets in the CGU on a prorate basis (Australian Accounting Standards Board, 2009). Therefore the disclosure requirements of IAS 36- Impairment of Assets are comprehensive and exhaustive so as to determine each and every detail about the asset being impaired along with the reasons for the same and the amount of impairment. These data is of utmost importance and hence are made compulsory by the accounting standards acclaimed internationally. Further the Australian Standard for the same is also very similar to IAS 36. The assets being impaired are land, shoe factory, machinery for manufacturing shoes and Goodwill on acquisition of competing companies. The brand Crossbow Shoes will not be impaired as the impairment of assets are being done due to online buying strategy which clearly shows that the brand value of the company is nowhere hampered and due to the same it is being able to enter the online selling market easily. Further inventory is not subject to impairment as the valuation of the same is covered under IAS 2. Since the recoverable amount of land is known separately hence separate accounting for impairment is required to be done for the same. The total financial position of the company as on 30 June 2015 was $1680000. However the recoverable amount is estimated at $1420000. Thus the total impairment is of $1680000 - $1420000 = $260000. Out of the same the recoverable amount of land is separately known as $171000, therefore the amount of impairment loss for the land is $200000 - $171000 = $29000. As per IAS 36, since the recoverable amount of the other individual assets is not known hence first and foremost the goodwill will be reduced. After the same the rest of the assets will be reduced on a prorate basis (ey.com, 2014). Thus the remaining amount of impairment after allocation of $29000 to land is $231000, of which $40000 is allocated to goodwill and $191000 is allocated to the factory and the machinery in the ratio of 7:4. Thus the impairment loss for factory is 7/11*191000 = $121545 and for machinery is 4/11*191000= $69455. The Journal Entries for the impairment loss occurring as on 30 June 2015 are as under: For impairment of land: Profit and Loss Account (loss on impairment) Dr...............$29000 To accumulated impairment loss (Land)...............................................$29000 For impairment of other assets: Profit and Loss Account (loss on impairment) Dr.................$231000 To goodwill A/c.....................................................................................$40000 To accumulated impairment loss (Shoe Factory)A/c...........................$121545 To accumulated impairment loss (machinery) A/c................................$69455 References: accaglobal.com, (2014), IAS 36 Impairment of Assets, Available at https://www.accaglobal.com/in/en/discover/cpd-articles/corporate-reporting/ias36-impairment.html (Accessed 14th September 2016) Australian Accounting Standards Board, (2009), Impairment of Assets- AASB 136, Available at https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPjun09_01-10.pdf (Accessed 15th September 2016) Dagwell, R., Wines, G., Lambert, C., (2012), Corporate Accounting in Australia, Pearson: Australia ey.com, (2014), Impairment Accounting the basics of IAS 36 , Impairment of Assets, Available at https://www.ey.com/Publication/vwLUAssets/Impairment_accounting_the_basics_of_IAS_36_Impairment_of_Assets/$FILE/Impairment_accounting_IAS_36.pdf (Accessed 14th September 2016) iasplus.com, (2014), IAS 36 Impairment of Assets, Available at https://www.iasplus.com/en/standards/ias/ias36 (Accessed 14th September 2016) investopedia.com, (2016), Impairment, Available at https://www.investopedia.com/terms/i/impairment.asp (Accessed 15th September 2016) pwc.com, (2014), Making Sense of a complex world- IAS 36 Impairment of Assets, Available at https://www.pwc.com/gx/en/communications/pdf/ias36_impairment_of_assets_final.pdf (Accessed 14th September 2016)