The Doctrine of the Church Research Paper Example | Topics and Well Written Essays - 3250 words

The Doctrine of the Church - Research Paper Example For what reason would you say you are so discouraged, O my spirit? For what reason do you sign inside me? Expectation in God! For I will again be saying thanks to him, within the sight of my rescuer and my God.† (Psalm 41:5-6). Through these two scriptural sections, we can infer that God proposed for the individuals to save one day for His love, a day where there can be no different interruptions. God likewise urged the individuals to gather in a â€Å"procession to the place of God,† so as to offer gratitude and to lift the spirit - for trust in God, and thanksgiving within the sight of God, with others in a crowd, is the antitoxin to a sad soul. God unmistakably expected that the individuals not overlook Him, which is the reason He trained the individuals to put aside daily to recollect him every week, and the support to collect, both in the Hebrews section and the Psalm entry shows that gathering is the picked approach to recall Him. The Lord likewise implied for the gatherings to be a route for individuals to assemble to â€Å"arouse each other to noble cause and great works.† (Hebrews 10:24). This is the initial segment of the epistle wherein the Lord admonishes the individuals to not spurn collection. The Lord obviously needs us to be aware of noble cause and acts of kindness for other people, and He plainly expects that the array be a path for individuals to assemble to stimulate each other to play out these works. This is one of His aims for these congregations, alongside recollecting and loving Him and giving Him much appreciated. Jews 10:25 likewise contained the expression â€Å"and this even more as you see the Day moving near.† (Hebrews 10:25).â

College Admissions Essay: The Turning Point -- College Admissions Essa

The Turning Point   Presumably the most significant defining moment in my life occurred in 1992.  At this time, I was eight years of age and living in Williamsport Pennsylvania.  My father had a well-paying occupation at Anchor Darling Valve Company, I was going to a parochial school and I thought life was only great.  At the time we lived in a huge four-story house with a different three-story carport and a section of land of woodland for a backyard.  I had a ten-speed bike and I would frequently go bicycling with my companions at the close by cemetery.  No-one at any point protested this, in actuality individuals would regularly have picnics at the highest point of this slope at the cemetery.  I surmise the main things I griped about were the steady music exercises and practice meetings my folks exposed me to.   Life was incredible until my father got back home one day with awful news.  As it turned out, his well-paying organization was scaling down and they needed to let him go.  Well, I didn't have a favorable opinion of it at the time.  So he'd find another line of work, I thought.  Well at any rate, he took out his resume and began mailing away.  Oh well, life goes on.  Well soon enough organizations started to look into him and he chose to join an organization called Cellular One (which would later be purchased by ATT and become ATT Wireless Services).  So what was the catch?  Well, Cellular One's workplaces are situated in Pittsburgh which isn't actually a simple drive from Williamsport. Carlos, we should move, yet it won't occur for a while.  We'll ensure you finish the school year furthermore, I despite everything need to search for work in Pittsburgh as well, my mother told me.  Somehow, in spi te of the fact that I realized my folks had numerous companions in Williamsport,... ...ttsburgh than I would have ever had the option to in Williamsport.  I figured out how to ski and rock climb, things I turned out to be acceptable at and still do today.  I likewise unexpectedly had a profound gratefulness for music.  This was something I had never had, presently out of nowhere, I really rehearsed when I should (this most likely had something to do with the new music teachers).  I additionally took up karate again and in the end earned my dark belt.  I understood that Williamsport was really a dull spot to live in and the main things I truly missed were my companions and the house.  Before I knew it, we had lived in Pittsburgh for a long time and despite the fact that it may not be the best spot to live in, it has opened up an entire universe of chances to me.  That was something I may never have gotten on the off chance that I had remained in Williamsport or on the off chance that I had kept on moving around.

The Rudolph Family Weekend

The Rudolph Family Weekend One week ago, everyones parents were here on campus, and I mean everyones but mine. In mathspeak, for all MIT students not equal to Kate Rudolph, the set of parents of those students is a subset of the set of people who were on campus for Family Weekend last weekend. And not only that! Brothers, sisters, grandparents! Okay, I exaggerate. I wasnt the only one whose parents didnt come, but sometimes it felt that way, and I got really homesick. I realized sometime last weekend that Ive been here for what is now over nine weeks, the longest Ive ever been away from home. I know people who go home or see their parents nearly every weekend, but those people are from Connecticut or New York. The trip to Chicago just isnt worth it for a weekend. But my Family Weekend was not completely lonely. My Uncle Jim and Aunt Maura and cousins Luke, Ally, and Erin live in the suburbs of Boston, and they came into Cambridge last weekend to spend the afternoon with me. That is once they found me Aside: The Story of My Phone: At some point several weeks ago, the screen on my phone developed a giant, spider-web shaped crack. The entire screen went black, except for a little triangle at the bottom, through which I could just barely make out what was going on, and since I have the button-sequences of my phone mostly memorized I was able to continue sending (poorly edited) texts and making phone calls. An interesting side effect of this was that I couldnt tell time for about a week, because my phone usually acts as my watch. My parents back in Illinois heard about this, and came to the rescue. You see, this summer, my sister threw her phone off a roller coaster. (Where by she threw it off a roller coaster I mean it accidentally fell off the roller coaster, completely unintentionally but the first one is funner to say. (Funner. It is a word. (Also, nested parentheses!))) The amusement park found it and sent it back to our house, but not before Laura had bought a replacement phone on ebay. So the phone my parents sent to my rescue was the eBay-phone, And the eBay-phone has issues. For some reason it uses a different service than phones do now, so it is continually looking for service and runs out of charge in about 12 hours. And sometimes, even when its fully charged and says it has signal, it wont make or receive calls or texts. Which is exactly what was happening last Saturday afternoon when Aunt Maura was trying to call me! End of Aside Eventually, the Boston Rudolphs caught up with me, and I took them on a tour of my floor, Tetazoo, and then we went on a walk through the MIT campus. There were lots of Family Weekend events going on, housemaster brunches and department-sponsored events and whatnot. And what did my cousins and I end up doing? I mean, wouldn’t you rather play beach volleyball on the pedestals in Lobby 7 and teach your imaginary class arithmetic in 32-123? Thanks to Uncle Jim and Aunt Maura for the super-cute video.

Smith s Vision Division Of Labor - 1330 Words

Smith’s Vision: Division of Labor in the Workplace Versus Society In Wealth of Nations, Smith posits that that division of labor, both in society and the workplace, is the driving force behind increased production (Smith, 1), and that individual self-interest motivates people to specialize (15), both within a society and in the workplace. Through the examples of a hypothetical pre-modern arrow-maker (16) and pin-makers from his own time (7), Smith presents the ever-increasing specialization within the workforce as a natural progression of the early division of society by profession. However, in his explanation of the division of labor, Smith falls short in establishing the factor of self interest in the example of the pin-maker, thus somewhat undermining the consistency of his theories on the division of labor. In the very first sentence of Wealth of Nations, Adam Smith declares that division of labor is the source of improvement in production. In his iconic pin factory example, he demonstrates these benefits of division of labor—namely, the â€Å"increase of dexterity† (Smith 7) of a worker, the â€Å"saving of time† (7) from not having to alternate jobs, and the development of new, more efficient machines. By specializing in one component of the pin-making process, for example, straightening the metal, the worker can become an expert in that task, and will not have to waste time learning to do the other tasks and switching between them. 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Gas Market Reformation - Free Essay Example

Sample details Pages: 9 Words: 2747 Downloads: 1 Date added: 2017/06/26 Category Energy Industry Essay Type Research paper Tags: Energy Essay Did you like this example? ENERGY LAW-GAS MARKET REFORMATION Distribution Grid of Natural Gas It is the grid which is developed or is going to be developed in accordance with approved program of development Natural Gas Distribution Companies The companies which occupy with issues of natural gas distribution grid. Regulatory Authority of Energy (RAE) The Regulatory Authority for Energy (RAE) is an independent administrative authority, which enjoys, by the provisions of the law establishing it, financial and administrative independence. RAE was established on the basis of the provisions of L. Don’t waste time! Our writers will create an original "Gas Market Reformation" essay for you Create order 2773/1999, which was issued within the framework of the harmonisation of the Hellenic Law to the provisions of Directive 96/92/EC for the liberalization of the electricity market. The financial independence of RAE, which is an essential condition in order to preserve the Authoritys independence, was effectively ensured by the provisions of L. 2837/2000, through which it is anticipated that the Authority possesses its own resources, i.e. revenue bonds from the regulated industry, participation to research projects etc. These resources are managed in accordance with the Presidential Decree 139/2001 Regulation for the Internal Operation and Administration of RAE, while financial management is subject to ex-post auditing by Independent Auditors and the Court of Auditors. New competences and duties were assigned to RAE with respect to electricity and natural gas sectors by the Electricity Law 3426/2005 and the Gas Law 3428/2005, in alignment with the relevant provisions of the EC Dire ctives 2003/54 and 2003/55, in particular with respect to access tariffs to electricity and gas networks, the terms and conditions for the provision of balancing services in natural gas, as well as on issues related to security of electricity and natural gas supply. Furthermore, on the basis of the modifications introduced with the abovementioned laws, RAE acts as a dispute settlement authority with respect to complaints against transmission or distribution system operator in both electricity and natural gas sectors. The main duties and responsibilities assigned to RAE relate to the following subjects: Monitoring the operation of all sectors of the energy market (Electricity, Natural Gas, Oil Products, Renewable Energy Sources, Cogeneration of Electricity and Heat etc.). Collection and processing of information from companies in the energy sector while respecting the principles of confidentiality. Participation in the pre-parliamentary legislative process through recommendation to the Minister of Development of the appropriate measures related to compliance with competition rules and to the overall protection of the consumers in the energy market. RAE monitors in particular the management and allocation of interconnection capacity, the time taken by TSO and DSO for connections of users and repairs to the network, the publication of all appropriate information by the TSO and the DSO, the terms and tariffs for third party access, the unbundling of accounts, the level of transparency and competition in the energy market and the security of supply. RAE issues a report every two years on security of supply both for electricity and natural gas, which is published and submitted both to the Minister of Development and the Commission, pursuant to the provisions of laws 3426/2005 and 3428/2005. Advice under the form of a simple opinion, with respect to the enactment of the secondary legislation, with the exception of the Electricity Grid Operation Code, the Power Exchanges Code, the Distribution Network Operation Code, where RAE enjoys the right of a consenting opinion. Furthermore, with respect to natural gas, RAE gives a consenting opinion for the issue of the Operation Codes of the National Natural Gas System as well as of the Independent Natural Gas System, while it approves the appropriate methodologies and details for the implementation of both Operation Codes. Advice under the form of a simple opinion, with respect to the terms and conditions for access to the transmission and distribution networks. Approval of the methodologies for the access tariffs to electricity transmission and distribution networks. The tariffs for third party access to electricity networks are approved by the Minister of Development following a consenting opinion of RAE, whilst RAE gives a simple opinion with respect to tariffs for third party access to natural gas systems. Regarding natural gas, RAE drafts the tariffs Regulation which is subject to approval by the Minister of Development, and regulates the terms and conditions for the provision of balancing services. Participation, under the form of a simple opinion, in the process for the granting and revocation of licences for the discharge of electricity activities. Monitoring of the exercise of the activities undertaken by licensees and access to information. Advice, under the form of a simple opinion, in the procedure for the approval of electricity retail tariffs with the exception of access tariffs. Approval of the generation adequacy studies conducted by HTSO to establish whether HTSO should issue tenders for new generation capacity. Imposition of financial sanctions, particularly fines to the violators of the primary and secondary energy legislation. Arbitral resolution of disputes between parties on electricity and natural gas legislation. Dispute settlement authority with respect to complaints against electricity transmission or distribution system operators and the owner of the electricity network, as well as against Natural Gas System and Distribution Operators on infringements of primary and secondary electricity and natural gas legislation. Cooperation with Regulatory Authorities of other countries, international Organisations and the European Commission. Reporting on an annual basis to the Commission on market dominance, predatory and anticompetitive behaviour on the basis of the appropriate information submitted by the Competition Authority. Finally, under Law 3054/2002 specific responsibilities were assigned to RAE regarding with the organisation and operation of the oil products market. RAE is obliged to comply with the legality principle. The decisions of RAE that are not solely advisory are subject to judicial review by the Athens Administrative Court of Appeals. Finally RAE publishes and submits to the Parliament via the Minister of Development an annual report giving detailed information about its functioning and acts. Natural Gas Distribution License When a company has a natural gas distribution company has the ability to construct the distribution grid of natural gas. Natural Gas Operation License A company which has this license can operate and exploit the Distribution Network Opportunity of renting a Distribution License A company which acquires a Distribution License has the ability to rent an Operation License from ità ¢Ã¢â€š ¬Ã¢â€ž ¢s owner through a financial return. Limitations in Licensing If there are two or more companies which are interested in getting a License then a competition is organized after RAE opinion and decision of YPEKA. At the end after the competition RAE decides which company is going to take the license. If there is an Operation License for an area then there are little opportunities a second license to be published. A company, which acquires Distribution and Operation License, can take part in a vertically integrated natural gas company if is independent from other sectors of the company Obligations of Natural Gas System Operator The reliability and the security of the System Technically and Financially feasible System Compliance of technical specifications Access for customers and suppliers Connection of the applicants to the System The procurement, installation, maintenance and proper functioning of measuring devices , which are installed in the Distribution System To provide to the Users of the Grid and to the Administrators of the Interconnected Systems and Distribution System of Natural Gas the necessary information for an effective Grid access. To avoid the discrimination between the Users of the System and especially in favor the companies that are connected with it. The cooperation with the Operators of the Interconnected and Distribution Natural Gas Systems for applying cooperation and communication protocols in order to secure the proper and the unencumbered function of the Distribution Systems , the fulfillment of their responsibilities, the function of the market and the cooperation with the operators of the organized markets The designation , the scheduling and the implementation of the development of the System taking into consideration the possibility of taking energy efficiency measures. Operation Code of Distribution System By decision of the RAE, upon recommendation of the Distribution Network Operator, is established an Operation Code of Distribution System , whereby is carried out of ità ¢Ã¢â€š ¬Ã¢â€ž ¢s management, maintenance and development. The Code is published in the Government Gazette and may be amended either at the initiative RAE or at the request of the Administrator. Through the Operation Code can be adjusted the following: Specifications and requirements of designation, operation and maintenance of the System and targets for the efficiency of the Distribution activity. Terms and conditions through which the DSO is obliged to offer access to the System and simultaneously to secure the access of the customers to the System with financially efficient, direct and clear way. Terms and conditions for the connection of the customer to the Distributed System in accordance with techno-economic basis and the process of the temporary denial to the connection to the System, which must be sufficiently justified. The deadline till which the DSO must reasonably decide for the connection applications and inform the applicants about the decision The quality standards and the conditions of the delivery conditions of Natural Gas which is distributed through the system The obligations of the DSO in the case of extreme conditions and especially the priority order of interruption of the connected customers. The schedule of maintenance and development of the distributed system and the procedures of informing the users of the system and the Operators of the Interconnected distribution systems. Information and data related to the Operation of the system, which are given to the users of the system The content of the standard connection and use agreement of the system The procedures for issuing invoices and abidance and clearance of accounts The implementing procedures of measures for the management of the capacity The obligations of the Distribution Network Operator for monitoring the evolution of demand and the content and the process for filing reports to RAE Changes in Natural Gas Market From May 30 2015 begins the separation of the gas distribution sector (distribution system) both DEPA and the EPA Attica, Thessaloniki and Thessaly, and from October 1, 2015 accounting unbundled should be completed. Until January 1, 2017 the legal and functional unbundling of distribution systems of Attica, Thessaloniki and Thessaly must have been completed and companies have to transport their distribution sector to the new CDG which is established. The EPA Thessaloniki and Thessaly can jointly transport their distribution sector to a common CDG in which they participate. The same applies to the distribution sector of DEPA for the rest of Greece. It is going to be established four natural gas distribution companies without being prohibited either the merger of the companies or the establishment of new companies. Distribution networks remain under the exclusive property of DEPA and their management is under CDG. The new projects and the extension of the DS which will constructed by CDG will remain under the property of CDG. There is a 20-year extension to the license of CDG with the option of being extended further for 20 years. There is tax exemption as regards the process of separation of distribution activities Eligible Clients Previous Law Situation The owners of a license of electric power production with the use of Natural Gas All the non-domestic customers who are outside of the EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries All the non-domestic customers and the big customers who are in areas with à Ã¢â€š ¬ÃƒÅ½Ã‚ ±Ãƒ Ã‚ ÃƒÅ½Ã‚ µÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ »ÃƒÅ½Ã‚ ¹Ãƒ Ã†â€™ÃƒÅ½Ã‚ · All the domestic customers who are are outside of the EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries The customers of the EPA when the license of the EPA is expired The customers of an area with à Ã¢â€š ¬ÃƒÅ½Ã‚ ±Ãƒ Ã‚ ÃƒÅ½Ã‚ µÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ »ÃƒÅ½Ã‚ ¹Ãƒ Ã†â€™ÃƒÅ½Ã‚ · when à Ã¢â€š ¬ÃƒÅ½Ã‚ ±Ãƒ Ã‚ ÃƒÅ½Ã‚ µÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ ºÃƒÅ½Ã‚ »ÃƒÅ½Ã‚ ¹Ãƒ Ã†â€™ÃƒÅ½Ã‚ · is expired The EPAs that are established after this law New Proposal All the customers that are outside of the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries. All the customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and use the natural gas as a fuel to the engines of means of transportation All the customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and use the natural gas as a fuel to the engines of means of transportation All customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and purchase natural gas for industrial use, who had actually consumed more of 2,2 GWh per consumption site within the period preceding twelve consecutive months of that date. From 1/1/2016 all the non-domestic customers with consumption greater than 2,2 GWh From 1/1/2017 all the non-domestic customers without taking into account the consumption From 1/1/2018 all the domestic customers Consequences because of the changes in Natural Gas Market According to the bill four Distribution Companies (ECN) are established in Attica, Thessaloniki, Thessaly, and the fourth in the rest of Greece, to which is granted the exploitation of the distribution systems of the three EPA but DEPA remains solely the owner of those systems. The EPA will remain only as commercial companies that will supply natural gas to retail and the consumers will pay in them their bills. As a result it is gradually achieved the whole separation of the commercial activities from those which are associated with the construction and the management of the system both for DEPA and three EPAs. The separation of the systems starts from 30/5/2015 , while in 1/10/2015 the accounting unbundling of the distribution system activities should be completed. Until 1/1/2017 must have been completed both the legal and functional unbundling of the systems in Attica, Thessaloniki and Thessaly. The EPA Atti ca,Thessaloniki and Thessaly can jointly transport their distribution sector to a common CDG in which they participate. The same applies to the distribution sector of DEPA for the rest of Greece. The EPA and Distribution Companies have the ability through the bill to be merged. In the future it is not prohibited for the distribution system of the Greece to be bounded under one company operator, so as the cost to be decreased. Simultaneously, the monopoly of DEPA and EPA to source and sell natural gas to the customers is gradually finished. The following customers will be able to choose their supplier: All the customers that are outside of the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries. All the customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and use the natural gas as a fuel to the engines of means of transportation All the customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and use the natural gas as a fuel to the engines of means of transportation All customers that are into the three EPAà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibility boundaries and purchase natural gas for industrial use, who had actually consumed more of 2,2 GWh per consumption site within the period preceding twelve consecutive months of that date. From 1/1/2016 all the non-domestic customers with consumption greater than 2,2 GWh From 1/1/2017 all the non-domestic customers without taking into account the consumption From 1/1/2018 all the domestic customers The fact that three EPA lose their monopoly in distribution system and in supplying their clients is in contrast with the exclusivity of 30 years contract that they signed in 2000. As a result it is offered to EPA 20-years extension in the activity of the system with an option of further 20 years. This is happening in order not to arise ligitation problems and the shareholders not to seek for damages. In essence, this means that the licenses of EPA which expire in 2030 are extended until at least 2050. DEPA remain the exclusive owner of the systems but it can not have a financial return from the provision of the management and exploitation of the DS in Attica, Thessaloniki and Thessaly until the redemption of the right to use them. For a period of three years from the launch of the EDA and to facilitate the full development of its own services, the transferring company, whether DEPA either the EPA can support the function of providing the services, for a reasonable conside ration will cover the cost of providing and approved by RAE. Within three months from the enactment of the Law, DEPA as a manager of the distribution system of the rest of Greece, and EPA Attica, Thessaloniki and Thessaly as managers of the systems of the respective geographical areas, recommend to the RAE, which must issue a series of additional provisions within three months from the time of submission. Such devices are the Pricing Rules of these systems, and the Code Management Distribution System. Also, within one month from the entry into force of the Regulation Invoice, DEPA and EPA Attica, Thessaloniki and Thessaly, submit for approval by RAE scales on which they receive in exchange for each key activity provide to their customers. Pending the entry into force of the new tariffs, the price for basic activities for users is 4 euros per MWh

Ibsen’s Nora A Character Analysis Free Essays

Nora in   A Doll’s House (1888) represents the oppressed woman of all ages. She begins as a conventional housewife dominated by her husband Torvald Helmer. From the role of a docile housewife she gradually emerges as a rebel with a cause. We will write a custom essay sample on Ibsen’s Nora: A Character Analysis or any similar topic only for you Order Now In the last decade of nineteenth century she got worldwide   attention as a   rebellious protagonist who fought against patriarchy. However, she begins as a conventional housewife of nineteenth century and it is the force of circumstances that brings about a sudden awakening in her. She stormed the complacent society, and the play became the subject of debates and discussions. She challenges the male domination   by slamming the door on her puritan husband and leaving his three small children. She refuses to live with a â€Å"stranger† who treats her as a doll wife, imposes all his restrictions on her, but does not support her at the greatest crisis of her life. In   Pillars of   Society Ibsen also created a liberated woman named Lona Hessel, the protagonist who surpassed the male characters and thereby introduced a new dimension to drama. The most striking thing about Nora’s character is her mental growth. In the first and second Acts Nora dutifully plays the roles of a devoted mother preparing for Christmas and a wife who dares to forge her father’s signature to defray the expenses of a trip to Italy for the restoration of her husband’s health. As a member of patriarchal society she accepts the affectionate pet names given by her condescending husband such as   Ã¢â‚¬Å"little squirrel† , â€Å"little skylark† â€Å"little featherbrain† and â€Å"little â€Å"scatterbrain†.(Ibsen.148). Her delight at her husband’s promotion as bank manager with promise of   Ã¢â‚¬Å"heaps and heaps of money†(p.155) is eclipsed by the emergence of a Machiavellian blackmailer named Krogstad. Nora makes a desperate attempt to live happily and peacefully by reinstating Krogstad, who is also implicated in forgery,   but gets involved in more lying. But Helmer   refuses to be seen influenced by his   wife. Helmer’s vanity is hurt by Christian name calling by his classmate which Nora thinks as petty. Throughout the play her innocence is interpreted by Helmer and Mrs.Linde as immaturity. She tells   Nora : â€Å"You are only baby, Nora†(p.158) To   Helmer she at times appears to be   Ã¢â‚¬Å"extremely obstinate† and â€Å"irresponsible†(p.187).Without this trait, her desertion of her husband and children for going on a solo journey of self-education and self-discovery would not be dramatically convincing. At the climax she waits for the miracle to save her from the blackmailer; but it never   Ã‚  happens. A letter from Krogstad shatters their eight-year-old conjugal life. She charges her husband: â€Å"You and Papa have committed a grievous sin against me: It’s your fault that I’ve made nothing of my life.(p.226) But Helmer was too much of a prig to regard her anything more than a spendthrift wife. Her responsible act of borrowing money on her own is so much frowned upon by him that he calls her â€Å"a liar, a hypocrite – even worse a criminal!† (p.221) He considers her unfit to bring up the children, and later   laments that he is â€Å"brought so pitifully low all because of a shiftless woman.† (p.221) Yet after the critical situation is saved   by Mrs.Linde, Nora emphatically rejects the proposal of perpetuating the faà §ade of marital life â€Å"only in the eyes of the world of course.†(p.221) Nora is not simply the protagonist of A Doll’s House, she has become the symbol of women’s protest against the dead laws, conventions and the religions of all society. Her awakening is every woman’s awakening. Her assertion for individual freedom has a universal appeal: â€Å"I must stand on my own feet if I’m to get to know myself and the world outside.† (p.227) Work Cited: Watts, Peter (Trnsl.). Ibsen: Plays. Harmondsworth. Penguin. 1965 All quotations are from this edition. November 19, 2007 â€Å"You’ll see I’m man enough to take it all on myself.†p.190 Nora is affected vy Helmer’s belief that an atmosphere of lie and hypocrisy of a mother vitiates the atmosphere of a home   Nora is pale with fear and says in distress: â€Å"Corrupt my little children – poison my home? That’s not true! It could never, never be true.† P.181 ..Nora is awefully fightened to hide the truth    How to cite Ibsen’s Nora: A Character Analysis, Essay examples

Revenue Recognition Rules and Scenarios

Question: Discuss about the Revenue Recognition for Rules and Scenarios. Answer: Introduction: In the context of business, stakeholder means a person who possesses some sort of interest in the business of a firm. The interest of the stakeholder could be financial or non-financial. In the current case of Big Business Tobacco (BBT) which is a company engaged in the manufacturing and selling the tobacco products, the major stakeholders could be shareholders, management, customers, government, lenders, and the society (Carroll, Brown, and Buchholtz, 2017). The shareholders are directly interested in the success and failure of the company while the government is indirectly interested. The government levies taxes on the income earned by the business, therefore, through indirect, but the interest of government lies. Further, the customers and lenders are also financial interested in the business of the company. However, the society which consumes the products manufactured by the company is indirectly interested in the business of the company. In the current case of BBT, the managemen t of the company is considering the issue of inclusion of health warning on the packet of cigarette. The major stakeholders which are getting affected by this issue could be identified as management, shareholders, and the consumers. Identification of the Ethical Issues The debate in the current case is on the issue of inclusion of health warning on the cigarette packs. The marketing manager contends that inclusion of such a warning would result in a loss of considerable market share which will ultimately affect the bottom line of the company adversely (CTI, 2016). On the other hand, the public relationship manager considers that not putting the health hazard warning on the cigarette pack would be unethical and detrimental to the consumers interest. The cigarette is considered to be one of the most hazardous tobacco products to the human health. Thus, public relationship manager considers that disclosure of warning on the pack is necessary to make the consumers aware of the adverse impact of cigarette consumption on the health (Gore, 2015). The management is in dilemma as to whether the health warning should be included on the cigarette pack or not. The inclusion of health warning potentially affects the profits adversely but at the same time it also safeguards the public interest and meets the corporate social responsibility requirements. On other hand, if the warning is not included, the profits will get boost up, but at the same time it will breach the corporate social responsibility requirements and affect the public interest prejudicially. Thus, the main issue before the management is to find out a way so that proper balance could be struck out between the interest of shareholders and the consumers (Gore, 2015). Randall Hedges is the public relationship manager in BBT. Being a public relationship manager, he talks in the favor of the public interest or the consumers welfare. However, the views of Randall Hedges appear to be meticulous and ethical. In his views, the company would be benefited in the long term if it complies with the corporate social responsibility requirements by conducting its business in public interest. Therefore, if the company gives health warning on the cigarette pack, it would be advantageous for it in the long term. Further, he argues that the demand of the companys products in Australia is unaffected by that disclosure of health warning. This suggests that disclosure of such a warning will not affect revenues of the company adversely by a big margin (Carroll, Brown, and Buchholtz, 2017). The suggestions given by Randall seems to be appropriate and ethical, thus, if I was in the position of Randall, I would have given the same suggestions to the company. Further, it could be noted that though it is not obligatory for the company to make warning disclosure on the cigarette packs in some of the Asian Markets as of now, but it would be made some day. Considering the public interest and consumer awareness concerns, the government in the Asian countries may take steps to make it compulsory to disclose warning in the packs. Thus, the company would have to comply with it not now but at some later point of time. However, if it complies with this now, it could help the company build good perception of the consumers, which will positively affect the demand in long term (Carroll, Brown, and Buchholtz, 2017). The primary issue in regard to recognition of revenues relates to timing of recognition. The timing of recognition implies the identification of the point in time when the revenues from the sale of goods or rendition of services can be said to be recognizable in the books of accounts of the entity (Bragg, 2010). There is international accounting standard (IAS) 18 which prescribes the whole procedure in regard to recognition of revenues (IAS 18, 2012). The standard divides revenues into three major categories such as sale of goods, rendition of services, and others. The revenues in the form of interest, royalties, and dividends fall under the other category. Commonly, for all the categories of revenues, the standard lays down that for recognition of revenue two conditions must always exist. The first is flow of future economic benefits and the second is reliable measurement of the amount (IAS 18, 2012). The above two conditions are very basic and requires to be complied with in each and every case, whether the revenues arise from the sale of goods or rendition of services, or from interest, dividend, and royalty. Further, there are certain specific conditions that are to be complied in regard to specific category of revenues. For instance, the IAS 18 prescribes that revenues from the sale of goods should to be recognized when five crucial conditions are satisfied. The first crucial condition requires transfer of all the risks and rewards by the seller to the buyer in relation to the goods subjected to the transaction (IAS 18, 2012). The second condition is that the seller should no longer be holding control of the goods being sold. The third condition stipulates that the amount of the sales consideration of the goods being sold should be measured reliably (IAS 18, 2012). The fourth condition relates to estimation of uncertainty in regard to receipt of the economic benefits by the sale of goods. The last and the fifth condition relates to reliable measurement of the cost incurred in manufacturing and making the goods ready for sale. Thus, when these five conditions are satisfied beyond all doubts, the revenues from sale of goods can be recognized in the books of the entity (IAS 18, 2012). In the current case, Brian Kelly who is engaged in exploration and extraction of minerals (gold) finds out a piece of rock. He gets that piece of rock valued by an expert at an amount of $60,000. However, the revenue does not arise at this stage because Brian Kelly still possesses that piece of rock and assumes all the risks and rewards in this respect. However, two weeks later, Brian Kelly sells that piece of rock a jeweler for an amount of $75,000. This is the point in time when the revenues get accrued for recognition in the books of Brian Kelly. The movement Brain Kelly transfers the rights and obligation in respect of piece of rock and gives possession to the jeweler, the conditions in regard to recognition of revenue gets satisfied. Therefore, Brian Kelly should recognize revenues from sale of piece of rock at $75,000 on the date when the piece of rock is handed over to the jeweler (Bragg, 2010). A plant manager is responsible to administer and supervise the plant operations in an effective and efficient manner. The plant manager is responsible to ensure that the resources such as employees, plant and equipment are used optimally and smoothly. In this regard, the plant manager would be responsible to take decisions as regards deployment of the resources and plant maintenance scheduling etc (Heizer et al., 2009). In order to ma ke such decisions, the plant manager would information which will comprise a mix of non-financial as well as financial data. However, the non financial information which relates to quantitative data is more important for decision making in the areas of plant operations management, but it does not means that financial information is of no use (Crosson and Needles, 2010). The financial information also plays a crucial role in operations management. It could be worthwhile to emphasize here that all the crucial areas of a business such as production, marketing, accounting, and administration are interrelated to each other (Crosson and Needles, 2010). This implies that to make managerial decisions in one area would require information from all other areas. For example, if the plant manager is required to make out a decision regarding repair and maintenance of plant, he would need cost and benefits analysis in addition to the analysis of quantitative data. The cost and benefit analysis would require financial information. Thus, the use of financial information and the role of accounting could not be negated in the plant operation management (Crosson and Needles, 2010). In the current case, the plant manager contends that there is no need to maintain financial data to take day to day decisions pertaining to plant operations. This contention of the plant manager is not valid because the financial information plays a crucial role in every sphere of decision making whether it is related to plant operations or marketing. The information on cost, prices, and historical trend is generated by the accounting and finance department of the company (Grabski, Leech, and Sangster, 2009). In order to make decision making process less time consuming and effective it is of paramount importance to integrate different functions across the entity. This implies that there must be proper integration between accounting, finance, production, marketing, and administration functions of the company (Grabski, Leech, and Sangster, 2009). In order to achieve this integration among different functions of the company, it becomes essential to implement the enterprise resource planning system. The enterprise resource planning system integrates different functions of the company on a real time basis. The crucial information for decision making is shared among different function on a real time basis resulting in reduction in the time (Grabski, Leech, and Sangster, 2009). Therefore, overall it may be concluded that the accounting and finance function plays a critical role in all domains of decision making in an entity and hence the importance of maintaining daily records can not be undermined. Whether it is plant manager or marketing manager, everyone requires accounting information in their decision making process (Grabski, Leech, and Sangster, 2009). Management accounting refers to the process of analyzing the accounting and costing data to assist the top management in formulation of the plans and strategies. The scope of management accounting is very wide as it covers the knowledge of principles of accounting, finance, and costing (Chapman, Hopwood, and Shields, 2011). There are numerous handy tasks which a management accountant has to perform in an organization. For example, resource allocation, testing optimality, and conducting cost benefit analysis. Traditionally, these tasks were used to be performed by manual computations, but in the present scenario, the use of information technology has increased to a lot extent. Now, the computations for these tasks are performed using highly customized computer softwares (Chapman, Hopwood, and Shields, 2011). The unprecedented benefits of the use of information technology have made it compulsory for the firms to opt for automation of the entire process through the use of softwares and computer programs (Chapman, Hopwood, and Shields, 2011). Thus, since the process of managerial decision making have been automated, therefore, it is pertinent for the management accountant to be well versed with the knowledge of information technology. The management accountant should be acquainted with the knowledge on how to use the software to analyze the data and prepare reports. However, the in-depth knowledge to fix the technical issues in the computer technology is not crucial for the management accountant. It is essential that he has technical knowledge to use the IT resources in day to day functioning (Chapman, Hopwood, and Shields, 2011). Stratum Ltd Horizontal Analysis of Statement of Profit and Loss 2016 ($'000) 2017 ($'000) Variance ($'000) Variance (%) Revenues 13,750.00 16,000.00 2,250.00 16.36% Expense, excluding finance cost 11,965.00 13,705.00 1,740.00 14.54% Finance cost - - - 0.00% Profit before income tax 1,785.00 2,295.00 510.00 28.57% Income tax expense 535.00 878.00 343.00 64.11% Profit 1,250.00 1,417.00 167.00 13.36% Stratum Ltd Horizontal Analysis of Statement of Financial Position 2016 ($'000) 2017 ($'000) Variance ($'000) Variance (%) Current assets Cash and cash equivalent 100.00 80.00 (20.00) -20.00% Trade and other receivables 335.00 380.00 45.00 13.43% Inventories 720.00 770.00 50.00 6.94% Total Current assets 1,155.00 1,230.00 75.00 6.49% Non-Current assets Other financial assets 160.00 140.00 (20.00) -12.50% Property, plant, and equipment 2,785.00 3,400.00 615.00 22.08% Total Non-Current assets 2,945.00 3,540.00 595.00 20.20% Total assets 4,100.00 4,770.00 670.00 16.34% Current liabilities Trade and other payable 500.00 505.00 5.00 1.00% Total Current liabilities 500.00 505.00 5.00 1.00% Non-Current liabilities Long-term borrowings 1,750.00 1,750.00 - 0.00% Total Non-Current liabilities 1,750.00 1,750.00 - 0.00% Total liabilities 2,250.00 2,255.00 5.00 0.22% Net assets 1,850.00 2,515.00 665.00 35.95% Share capital 1,500.00 1,600.00 100.00 6.67% Retained earnings 350.00 915.00 565.00 161.43% Total equity 1,850.00 2,515.00 665.00 35.95% Stratum Ltd Horizontal Analysis of Statement of Changes in Equity 2016 ($'000) 2017 ($'000) Variance ($'000) Variance (%) Share capital Ordinary: Balance at the start of period 1,500.00 1,500.00 - 0.00% Issue of share capital - 100.00 100.00 0.00% Balance at the end of period 1,500.00 1,600.00 100.00 6.67% Retained earnings Balance at the start of period 200.00 350.00 150.00 75.00% Total recognized profit for the period 1,250.00 1,417.00 167.00 13.36% Dividend paid-Ordinary (1,100.00) (852.00) 248.00 -22.55% Balance at the end of period 350.00 915.00 565.00 161.43% Stratum Ltd Common Size Analysis of Statement of Profit and Loss 2016 ($'000) % to revenues 2017 ($'000) % to revenues Revenues 13,750.00 100.00% 16,000.00 100.00% Expense, excluding finance cost 11,965.00 87.02% 13,705.00 85.66% Finance cost - 0.00% - 0.00% Profit before income tax 1,785.00 12.98% 2,295.00 14.34% Income tax expense 535.00 3.89% 878.00 5.49% Profit 1,250.00 9.09% 1,417.00 8.86% Stratum Ltd Common Size Analysis of Statement of Financial Position 2016 ($'000) % to revenues 2017 ($'000) % to revenues Current assets Cash and cash equivalent 100.00 2.44% 80.00 1.68% Trade and other receivables 335.00 8.17% 380.00 7.97% Inventories 720.00 17.56% 770.00 16.14% Total Current assets 1,155.00 28.17% 1,230.00 25.79% Non-Current assets 0.00% 0.00% Other financial assets 160.00 3.90% 140.00 2.94% Property, plant, and equipment 2,785.00 67.93% 3,400.00 71.28% Total Non-Current assets 2,945.00 71.83% 3,540.00 74.21% Total assets 4,100.00 100.00% 4,770.00 100.00% Current liabilities Trade and other payable 500.00 27.03% 505.00 20.08% Total Current liabilities 500.00 27.03% 505.00 20.08% Non-Current liabilities 0.00% 0.00% Long-term borrowings 1,750.00 94.59% 1,750.00 69.58% Total Non-Current liabilities 1,750.00 94.59% 1,750.00 69.58% Total liabilities 2,250.00 121.62% 2,255.00 89.66% Net assets 1,850.00 100.00% 2,515.00 100.00% Share capital 1,500.00 81.08% 1,600.00 63.62% Retained earnings 350.00 18.92% 915.00 36.38% Total equity 1,850.00 100.00% 2,515.00 100.00% The results of the horizontal analysis conducted on the profit and loss statement show that the revenues increased by 16.36% in the year 2017 over the figure of 2016. Further, the expenses also increased by 14.54%. There was observed an overall increase of 13.36% in the net profit of the company in the current year as compared to the previous year. Further, the statement of financial position shows a reduction of 20% in the cash and cash equivalent while an increase by 13.43% and 6.94% in the trade receivables and the inventories. Overall current assets increased by 6.49% in the year 2017 as compared to 2016. The other financial assets have decreased by 12.50% while the plant and machinery went up by 22.08%. Overall, the total assets are up by 16.34% and the total liabilities are up by 0.22%. This shows that the company is performing well in the market. Further, the total equity is up by 35.95%. The primary reason for this increase in the total equity is sharp increase in retained earnings. The ending balance of the retained earnings was increased by 161.43% in 2017 as compared to 2016. The results of the vertical analysis show that the expenses were 87.02% of the revenues in the year 2016 which reduced to 85.66% in the year 2017. Due to the decrease in expenses, the profit before tax increased from 12.98% to 14.34%. However, there was observed a reduction in the net profit from 9.09% to 8.86% in the current year which seems mainly due to increase in income tax expense. As regard the statement of financial position, it was observed that total current assets reduced as a percentage to total assets in the year 2017 to 25.79% from 28.17%. However, there was a slight increase in the non-current assets from 71.83% to 74.21% in the year 2017. The total liabilities as a percent of total equity reduced significantly in the year 2017 to 89.66% from 121.62% in 2016. References Bragg, S.M. 2010. Wiley Revenue Recognition: Rules and Scenarios. John Wiley Sons. Carroll, A., Brown, J., and Buchholtz, A. 2017. Business and Society: Ethics, Sustainability and Stakeholder Management. Cengage Learning. Chapman, S.C., Hopwood, A.G., Shields, M.D. 2011. Handbook of Management Accounting Research. Elsevier. Crosson, S.V. and Needles, B.E. 2010. Managerial Accounting. Cengage Learning. CTI. 2016. Business and Society, Stakeholders, Ethics, Public Policy: Business, Business. Cram101 Textbook Reviews. Gore, J. 2015. Ethical Issues. American Journal of Nursing,115(3), pp. 13-13. Grabski, S., Leech, S., and Sangster, A. 2009. Management Accounting in Enterprise Resource Planning Systems. Butterworth-Heinemann. Heizer, Jay, Render, Barry, and Rajashekhar. 2009. Operations Management. Pearson Education India. IAS 18. 2012. Revenue. [Online]. Available at: https://www.ifrs.org/Documents/IAS18.pdf [Accessed on: 27 January 2017].