Qatar Electricity and Water Company Essay Example | Topics and Well Written Essays - 1000 words

Qatar Electricity and Water Company - Essay Example Almost half (43%) of these shares are owned by the Qatar government itself and the rest (57%) by the private individuals (Water report for Qatar). This renowned company has many credits and achievements to its name. It runs power plants and desalination station to meet the consumption needs of the country. It has also signed up an agreement with the Qatar General Electricity and water corporation and sells its products to them as well. Given below is a statistical chart (Welcome to Qatar Electricity & Water Co) that shows the requirements of the Qatar electricity and Water Company for the graduates and trainees. As per the chart, the company opens its offers for the mechanical, electrical, chemical and instrumentation engineering branches and also has opportunities for semi technical and non technical employees. People from these backgrounds are trained in their respective fields as per the company's requirement. These trained people are finally recruited in technical fields of need. It also has some staff in the field of management, accounting and administration as well. This selection is done based on the requirement of the company for then and near future in mind. Qatari Graduates Work and Training Opportunities in the Company   qualifications field of work Grade Specialization university, graduates & diploma Technical bachelor degree or diploma in engineering mechanical electrical instrumentation chemical semi-technical bachelor in science computer - physics - chemistry – math non-technical bachelor of commerce / arts administration- accounting - management administration high school graduates technical-non technical high school science - non science The company has its own training programs and does concentrate on the program very well. The training program takes the employees through Qatar petroleum. A separate team is appointed to supervise the training program as this is considered to be an important phase in the employee assessment and evaluat ion. This generally involves graduates from Qatar and abroad as well. These graduates are trained to fill various technical supervisory jobs. The company also deals with other international companies that manufacture the sophisticated equipment that the Qatar electricity and water company uses and trains its employees in using this equipment. However there are certain requirements to be fulfilled by the graduates with tests and personal interviews as well. The company has been keeping itself abreast of the other companies, by adopting latest technologies and making sure it has its share in the international market. Qatar electricity and Water Company has also made sure that it stands in the international market by making sure the employees cope with the international standards and hence it lets the employees to go through English language tests asses their speaking skills to ensure they would be able communicate anywhere within and outside the country. Hence English has also been an other criterion in the selection of the candidates The company stands second to none when it comes to compensations of the employees. Qatar electricity and Water Company ensures the best compensation in the class. It rewards the employees with many benefits and huge salaries. It also has retirement system, making sure the employees lead a decent life even after their retirement. Apart from these it also offers its

Multistate Regulation Essay Example | Topics and Well Written Essays - 500 words

Multistate Regulation - Essay Example g practice is expanded on a daily basis through technology, and the new modalities in place that encourage the practice by nurses, wherever they are, or might go (Hann, 2007). This paper will examine the pros and cons of multistate regulation on the health care fraternity, and what it means to have rules in place to regulate the profession over state lines. Once one is a licensed medical practitioner, it is their right to practice their profession in any state they want to practice. This is one advantage brought on by the multistate regulation. If a medical practitioner is willing to conduct their business electronically, or physically, it is their right to do so, provided the licensing board in their state has approved of their practice (Hann, 2007). Also, if their practice is in agreement with the procedures and guidelines of the state in which they want to practice. Under mutual recognition, the multistate regulation ensures that medical practitioners may practice their profession across state lines (Hann, 2007). This is if there are no restrictions. Another advantage of the multistate regulation is the creation of diverse experiences. The nursing profession essentially benefits from the enhancement of opportunities created through regulation. It is imperative that medical practitioners get the exposure from different areas so as to bring diversification to the table. This is possible through multistate regulation policies. Health insurance companies are incurring tremendous losses as they tend to obey the different guidelines in the respective state (Milstead, 2013). This is a different scenario present, because, if these insurance companies would comply with a single regulatory body, it would be easier to conduct business. They would incur fewer costs by getting compliance from a single body, than multiple regulatory standards, which each state requires. The costs incurred drive up a company’s expenses, which are unnecessary. If the insurance companies

Relationship between BOH tea and consumer behavior

Relationship between BOH tea and consumer behavior BOH Plantation Sdn Bhd was found by John Archibald Russell in the year 1929, together with A.B. Milne, a veteran in tea planting from Ceylon they succeeded in obtaining a concession of land in Cameron Highland in order to start the tea plantation business. Together the duo transforms steep jungles slopes into a tea garden known as BOH Plantations, which is the 1st highland tea garden in the country. BOH Plantations business begins to bloom and currently is the leading tea grower in the country. The plantation expanded and owns four tea gardens, of which three is located 5000 ft above sea level and is situated in Cameron Highlands, and the fourth is centralizing in Bukit Cheeding, Selangor. Collectively, the gardens size in total is 1200ha. BOH Plantation has been firmly entrenched that most Malaysia drinks BOH tea than any other brand. BOH teas are available in 3 different forms (tea packets, tea bags, tea dust). The company currently produces 4 million kg of tea in a year. Malaysian consumes 10million kg of tea which makes BOH tea largest producer locally of black tea, in terms of cuppage, BOH tea produces about 5.5 million per day which almost meets 50% of tea consumption requirement in the country. The success story of BOH Plantation continues to be Malaysias leading brand in tea and is also exporting to Brunei, Japan, Singapore, United Arab Emirates and also the US. Consumer Decision Process BOH tea Consumer Decision Process is basically known as a cognitive process. Consumer is aware of a need or wants and search for possible ways to satisfy it. Awareness of consumer is not an automatic process; it is actually selective external procedure. Example, consumers are expose to thousands of messages that persuades them from advertising, political organization, religious groups , food products and many more other resources. This mass information that seeks out consumer attention then filtered out by individual in order to make the decision in buying a product. In order for a consumer to purchase a product, he or she has to go through the 5 stages of consumer decision process. These 5 stages of consumer decision making process are very important for consumer to make an accurate decision in satisfying their needs and wants. The stages flow in sequence beginning with problem recognition and ending with post-purchase evaluation. The 5 stages are as graph above: Problem Recognition Information Search Evaluation and Selection of Alternatives Decision Implementation Post-purchase Evaluation Problem Recognition The consumer decision process begins when a consumer is aware of satisfying their needs or wants. For the past decade, health benefits have caught the attention of the wide coverage of media. Numerous studies have shown that the antioxidant polyphenols of tea has the anti-cancer properties and also able to reduce the risk of gastric, and also skin cancer. Prevention is better than cure; this statement has drive consumers to seek for healthy product to maintain a healthy lifestyle, likewise tea is a healthy drink. This is where BOH tea as Malaysian leading brand provides high quality tea that contains rich aroma of tea flavors that fills the nose and relishing the taste in the mouth while giving a soothing effect. Below are 2 examples of BOH teas top products. Product 1 (BOH string and tag) Source: https://www.boh.com.my/shop/product_info.php?products_id=71 Most consume product that satisfies the need of consumers that wants to prepare instant pre-pack tea. Product 2 BOH tea leaves Source: https://www.boh.com.my/shop/product_info.php?products_id=29 This product satisfies the needs of consumer that prefers the old fashion tea leave method, as the aroma and taste of tea is stronger. Information Research When consumers identify a problem, they will find ways to solve the problems. Consumer will need to do internal and external research in obtaining the knowledge of products that will satisfy their needs. In the case of BOH tea, since it is the leading tea brand in Malaysia it is important to strengthen the brands leadership by creating awareness for their product through sales promotion and advertising. As internal research, in order for BOH tea to capture the attention of consumer they have come up with a catchy phrase ada Ummph which literally means more than words can describe kind of feeling to show the great quality of tea that is produce by BOH tea. This phrase will strongly register the brands name in the mind of consumer, so that the next time they want to purchase tea, BOH tea will be their 1st choice as the ada Ummph phrase shows that consumer will never regret in consuming their tea. Above is the example of the catchy phrase that is place on the product of BOH tea that always remind people to enjoy the goodness of tea at the same time enjoying a relaxing time, it has specialized BOH tea from different brand of tea such as Twinnings, Chamomile and Lipton. External research allow consumer to access for secondary information from online resources, advertisement, brochures and many more in order to provide them with the excess knowledge to purchase the computer of their choice. Tea drinker in Malaysia will not escape the attention of BOH tea, as their product can be obtained from most retail outlets. BOH tea has also promoted their tea in printed media such as newspaper advertisement, television commercial, and also campaigns. BOH tea promotes their tea with bonding with love ones by creating moments of togetherness with loved ones. This is to show that a cup of tea can unite everyone together without any restriction. One way for BOH tea to educate consumers is by giving away free samplings and by holding contests for consumers. Source:http://old.brudirect.com/public_html/DailyInfo/News/Archive/June05/100605/bb08.htm Above is a picture of a winner who participated in a lucky draw pick that was organized by BOH tea in a shopping mall. This shows that promotion is a very important strategy in order to build consumer knowledge on BOH tea. Evaluation and Selection of Alternatives The following step allows the consumer to evaluate the brands from the information that is obtained. Consumers sees product as a bundle of attributes such as the need, benefits, and attributes in order to make the right decision that satisfy their needs and wants. This bundle of attributes is actually a products objective and subjective factors. Objective factor Strong aroma of tea and relishing taste Subjective factors Comparison of BOH Tea and Lipton tea, BOH tea being the outstanding as product is cheaper then Lipton and has strong aroma that suits consumers taste Purchase Decision Purchasing the brand BOH tea satisfies the entire spectrum of the non-alcoholic beverage in Malaysia and encourages tea to be consumed including, cold, instant, traditional or in any other form that is preferred by consumer. This satisfies the consumer by providing choice of tea consumption according to their taste This is the stage where consumer has decided which brand of product that he or she wants after a making comparison with all the availability of product brands. Consumer will then have to select 2 specific elements which is purchasing the brand choice and purchasing time. Purchasing Time Product can be purchase in most retail outlet in the form of packages. Consumer can also buy it in bundle during promotion period too. Post purchase evaluation In this stage the level of purchase involvement of consumer is very important, it is often known as the level of concern for or interest in the purchase and heavily depends on the extensive information that is seek by the consumer in making a purchase decision. Low purchase involvement process Example, suppose if a buyer buys a certain brand of product (e.g., BOH tea) as a matter of habit, this means the drink is a low purchase involvement situation and consumers do not have to evaluate and seek information extensively. This case consumer will simply buy and consume the product and generates a high level of repeating the same purchase of product. Graph above shows low involvement purchase process that takes place. The benefit of low purchase involvement process is BOH tea has become consumers loyal brand for tea consumption products as repeat purchase has been taking place from time to time. However, if the level of purchase is high and the consumer is involved in extensive decision making, consumer will be more likely to face a more elaborated post-purchase evaluation. High Purchase Involvement process This graph shows that there is a post-purchase dissonance where consumer are unable to commit to the decision of choosing the brand that they want and it will create anxiety among consumers as it is difficult to make alternatives choices. In order for consumer to reduce this dissonance, consumer has to make approaches such as to increase the desirability of the brand that they want to purchase and reject the desirability of rejected alternatives and also reject the negative data on brand purchased. If dissonance is not reduce, the anxiety experience may turn into a dissatisfaction and leads to a new problem. That is why high purchase involvement needs extensive research of information to reduce anxiety and increase the confidence level in purchasing the product they want. Consumer will stay loyal to BOH tea because the company is constantly doing research in order to satisfy the future consumer needs. Psychological Core BOH tea Attention Attention is a concept of cognitive psychology that helps us to actively process information present in our environment. Attention is an unconscious process where consumer can automatically scan the features of the environment surrounding them. Attention can be classified into 2 which are voluntary and involuntary. Selective Attention Selective attention is the study of why people pay attention towards things, and how deep is their attention towards things that they focus. BOH tea pays attention towards animal and environmental conservation and have won numerous awards. Example, the companys packing facility in Bukit Cheeding has receive the ISO 9002 certification, this can further assured of quality tea every time consumer open up a packet of BOH tea. BOH also won the Super brand Excellence Trophy Award in Food Beverage category in 2004. Tea Brands such as Rooibos tea from South Africa although provides lots of benefits but unfortunately they are a bit slow in venturing into environmental conservation. Orientation reflex Orientation reflex is very important in capturing the attention of consumer. The aim of this involuntary action is to create stimuli that surprise the expectation of consumers. Example, BOH Tea is able to capture the attention of their consumer with their advertisement in television which focuses on family bonding where family members can socialize through a cup of tea. Perception Perception is a process that begins with consumer being exposed to information, attended to the information and ending with comprehending the information that is focus on. Perception consists of 5 major elements which is exposure stage, attention stage and comprehension stage. Exposure stage is the beginning process of perception process where consumer is exposing to information in the environment that is observed by the human senses. However, exposure towards surrounding is not enough to give a major impact towards consumers. BOH tea attracts consumer by promoting their products in television commercial, newspaper advertisement, BOH tea website, and also campaign. Example, BOH tea has done numerous televisions commercial by targeting the culture of tea regardless of religious or political options and also not to forget the moment of togetherness by the bonding of family member. The attention stage, is how consumer pays attention towards something, this stage consumer will allocate processing capacity to a stimulus. In order to capture the attention of consumer, BOH tea has involve in animal and environmental conservation. One of their successful stories is when BOH Plantation was the first tea company to be awarded ISO22000 certification, an international standard designed to ensure safe food supply chains worldwide. BOH has also strengthened the leadership of their brand by embarking on numerous marketing campaigns. Consumer will then interpret the information obtain from environment and store it in the memory so that consumer can make the decision at the purchase stage. Different choices of tea X Lipton Tea X Alce Dero X BOH tea X Chayo X Twining X St Dalfour Organic tea Taste/Smell Taste/ Smell X Clear Spring X Alvita Tea X Austral Herbs X Dalhousie X Eden Organic X Nature Cuppa Organics X Sonnetor X Borneo Rainforest Less choices of tea Above is an example of perceptual mapping that helps BOH tea to develop a market positing strategy for their products. This has help us to see how consumer perceive the brands of tea that is available, and also how BOH tea can develop in technology and agriculture in improvising the taste and aroma of tea suits to the mood of consumers. Motivation Motivation refers to an inner drive that reflects the goal of a person, which consist of the urge, wishes, or desire that allow them to strive to achieve the goals and aims that is set. The two motivational theories that is famously know to express the motivation of people are the : Maslows Hierachy of Needs W.J. McGuire psychological motives Abraham Maslows Hierarchy of Needs Maslows hierarchy of need is actually a theory to satisfy the human needs . In order to be at the peak of the hierarchy, a person has to satisfy the lower needs in order to achieve higher needs in the hierarchy. ( Further explanation of this theory will be explain in the appendix) The next theory is McGuires physiological motives , a very detailed set of motives to understand the specific aspects of consumer behavior. This theory consists of 4 major categories with 16 sub-categories which explain the behavior of consumer.( Further explanation refer to appendix) The 2 criteria that satisfy the 4 main categories are as follow: Is the mode of motivation cognitive or affective? Is the motive focus on preservation of status or on growth? This advertisement has shown us that BOH is targeting bonding between people and at the same time satisfying the need for affiliation (active, external). The pictures shows that two hands of different skin complexion holding the cup of tea basically means, no matter who we might be we can bring people together over an occasion of tea and igniting joy. The tag line Brings people together in the advertisement tells consumers that life are always more meaningful when shared with people who matters the most. Here we can see BOH tea market and targets the satisfaction of building relationship of family members and friends. This advertisement target consume by showing the types of product available for consumers. This has satisfy the needs for stimulation, consumer often seek variety and different out of stimulation, so this advertisement has shown the range of preparation of tea they have such as BOH tea leaves packaging and BOH tea in strings and bags. This way consumer can be satisfied depending on how they want to prepare their cup of tea. The next will be the need of expression; the sentence BOH mother brand range has express others about the distinctive and unique character of BOH tea bursts with freshness and aroma in each cupful. They also want to express that BOH tea satisfy much more than just the aroma and taste by preparing a small plate of cookies to show that their tea can go best with evening tea time meal as to relax our mind and soul. Learning Behaviors that results from repetition experience and thinking have allow consumer to develop automatic response to a situation.( Further explanation of learning process can be found in the appendix ). When consumer has chosen a specific product that satisfies their needs, they rely on what they have learned through previous experience about the products characteristic such as the brand name, ingredients or features. In order for BOH tea to provide knowledge on their tea production, they have come up with different kind of tea thats suits different consumer taste. In order to satisfy different taste of consumer, BOH has produced the instant tea mix with no sugar added as seen in the above image. This product does not contain sugar but with added creamer for a smoothing taste. This product not only allow consumer to experience the robust full flavor of BOH tea, but also easily prepared by adding hot water for a quick and refreshing cup of tea . The learning process has registered consumer that does not take sugar can always buy this product. Green tea product of BOH as seen above soothes refreshes and revitalizes the mind and soul of consumer who needs a boost in energy after a hard day at work. This has allow learning process to take place within consumer who will purchase green tea product of BOH tea, that promises 100% tea that is steamed then rolled and dried in traditional process over the century. The delicate aroma, light and refreshing taste with its natural antioxidant properties gives consumer an opportunity to learn that this green tea does not fail to refresh and revitalize our body and mind. Memory Memory is the ability of the human mind to store, recall information or experience, or retain vital information. (types and further explanation of memory can be found in appendix) In order for BOH tea to strengthen their leadership brand in tea has to target consumer in many ways that possible and advertisement in an interesting way that can transform nature of consumer by setting expectation that influence the way consumer interpret that information In order to target loyal consumer, BOH tea has come up with advertisement and promotions to establish their brand. The image above is an example of promotion strategy use to attract consumers. The promotion is about sharing with love ones where consumer takes pictures with family and friends and post them to BOH tea, and BOH tea will then take all the pictures and form a huge collage that says 1 Ummph, 1 smile which literally means BOH tea puts a smiles on every Malaysian no matter who they are. This promotion strategy not only builds the spirit of patriotic Malaysian and builds the relationship with everyone, but also giving them a chance to win RM5, 000 for grand prize and RM1,000 for conservation prize . In addition, a chance for all Malaysian to make history in making their way in Malaysia books of record for forming the largest collages regarding the value of togetherness. This kind of promotion can allow consumer to always remember BOH tea reaching out to people even though th ey are just a tea brand. It shows how BOH tea cares for the people. Attitude Attitude is feeling or affection against a stimulus; it is stored in the long-term memory. The 4 function of attitude consist of Utilitarian function, which is use to obtain reward and avoid punishment, Ego-Defensive function is self-protection, knowledge function is simplifies decision such as brand, and value expression which is express identify towards others. Beliefs is an important aspect in attitude, in order for consumer to have positive beliefs on BOH tea which is strong aroma and soothing taste they have to differentiate their product to the liking of consumers. Other tea brands such as Twinings and Rooibos tea are very difficult to attract consumer in Malaysia because they do not promote and advertise their product much. They do not approach consumers, and that case has given opportunity to BOH tea to target consumer attitude in the sense of drinking tea with love ones, the bonding and relationship that is created with the people around us Culture The direct definition from textbook about culture is That complex whole which includes knowledge, belief, art, morals, custom, and any other capabilities and habits acquired by man person as a member of society. (Further explanation of culture can be obtain in the appendix) Tea has been diversified over the years such as lifestyle, customs of tea and not to forget combined social process such as learning, planting, and using tea. Tea culture has struck people of all ages. In the young generation, entertainment on weekend draws young group of enthusiastic customers. Example, young people are more interested on meeting people in coffeehouse while having a cup of tea. The interest in tea drinking among people assures diverse and sophisticated customer base on now and future. As for the older generation, the fact that the price of a cup of tea and snack is relatively modest, they can also meet up with friends and relax and work at the same time. This is benefiting them rather than spendi ng money on alcoholic drink in a bar. Thus, the young generation will be an important target market. Subculture Identification with core culture Identification with a subculture Mass market behaviors Unique market behavior Core culture values and norms Subculture values and norms Individuals A subculture is a section of a larger culture whose members shares distinguish values and pattern behavior. Social history and current situation of the groups generates the unique values and pattern of behavior which they practices in their subculture. One good example of tea subculture in Malaysia is the element of showmanship in preparing teh tarik .A hot beverage prepared and commonly found restaurants and outdoor stalls. Teh tarik literally means tea pouring in a sense. Above is a picture on how Teh tarik is prepared. It is the ability to drag a long stream of tea above the head of the brewer in an amusing way that it draws the attention for locals and tourists alike as an entertainment that we do not usually see elsewhere. The sub culture of this has drive teh tarik brewers to gather for competitions and performance to show their skills. This preparation of tea has recognized as beverage heritage in Malaysia. Group Group can be said that two or more individual who shares the same set of norm, values and beliefs. Reference group A group whose values, norms, attitudes, or beliefs that are use as a guide for behavior. A group whose presumed perspective or values are being used by individual as basis for her or his current behavior in situation. Example, colleagues at work, friends at school, members of clubs and so on Aspiration group is a group where an individual would belong, dissociative group which a person does not want to associated with them. Society Society is made up of individuals who have agreed to work together for mutual benefit. It can be a very broad term, as we can make generalizations about what the whole of Western society believes, or it can be a very narrow definition, describing only a small group of people within a given community. But no matter the size, and no matter the link that binds a society together, be it religious, geographic, professional or economic, society is shaped by the relationships between individuals. Life style influence Lifestyle is a common word to explain complicated consumer behaviors. Lifestyle is a way to segment people into groups based on three things: opinions, attitudes and activities. Lifestyle means the ways groups of consumers spend time and money. Lifestyle can include things like bowling, cooking, car racing, kayaking, attending charity events, having pets, interest in politics, watching sporting events and so on Everyone has two lifestyles-the one they are currently in and the one they want to be in, which is always better than the current one. Marketers exploit this desire to move into a better lifestyle by showcasing people who are better off than the intended target market in their ads. For example most ads targeting children show children that are almost too old for the product, this appeals to younger children who desire to be like them. Marketing strategy ( the 4 Ps ) The goal is to make decisions that center the four Ps on the customers in the target market in order to create perceived value and generate a positive response. Product Decisions Tangible physical products that can be sold to consumer .The decision making of BOH tea are such as brands name, safety, packaging, and also quality. Above the BOH tea brands that comes with the trademark of puts the Ummph in life that literally means enjoy life to the max with just a cup of tea. Below are a few products of BOH tea in their preferred packaging. BOH ice tea with blackcurrent flavor Gold BOH Cameroon blend BOH instant tea mix BOH green tea Pricing decision Below is the pricing decision of BOH tea products which is literally cheaper then their competitor such as Twinings and Roobois tea. Name of Products description Size Price ($) BOH Cameronian-Gold Blend Cameronian-Gold Blend is distinguished for its exceptionally smooth flavor and rich golden color. 50 individual foil sealed teabags x 2g (100g) 6.35 BOH Green Tea Natural green tea that refreshes and soothes the mind 50 individual teabags x 1.5g (75g) 6.35 BOH tea instant mix Pre-blended with tasty creamer with sweetened sugar 30 sachets X 20g ( 600)g 7.35 BOH tea instant mix no sugar Pre-blended with tasty creamer with no sugar. 20 sachets X 11.5g (230g) 5.35 Place distribution BOH tea can easily obtain at any retail outlet in Malaysia, consumer can easily purchase it anywhere without having to trouble themselves to travel far and wide. Promotion BOH has done many advertisement and promotion in order to strengthen their brand in the market of tea in Malaysia. BOH yea has created friendly image that was abkle to strike deep in the consumers heart ensuring popularity and liking among the people BOH embraced the new technology, television by combining it with animation, creating one of the most recognizable advertising icons of the period: Mr. BOH The 1Ummph 1Smile 1Malaysia campaign that was organize by BOH tea was a success as Malaysians step up to the challenge of spreading love to the underprivileged merely through a smile. The campaign was promoted through website, radio, tv stations where photograph of consumers can upload onto the 1Ummph 1Smile Malaysia photo gallery website page. This collage took the creative team over 100 hours to put it up together , it measured up to 33 feet by 75 feet tall. There are also different kinds of variables that can be use for segmentation: Demographic Demographic variables such as income, gender, education, location, ethnicity, and family size are basically tied to subculture and segmentation. The graph above shows the Malaysian population by age group from year 2005 to 2009. From this graph, BOH tea can focus on which group of generation that they want to target, but BOH tea has decided to target people from all ages groups except children because there is no harm drinking tea but provides health benefits so it is highly recommended by every age group.

Joshua and the Children: Many Reasons :: Joshua and The Children Essays

Joshua and the Children: Many Reasons There were a lot of reasons Joseph Girzone titled his book "Joshua and the Children". I think the main reason for the title was because of Joshua’s purpose in the town. The author explains how Joshua is there to fulfill "his Father’s" promise. Joshua wants to teach all the children of the town to get along and be at peace with each other. Joshua says it is too late for the adults to learn the way, who have lived hateful lives. Joshua must turn to the children if he wishes to change the future. He believes that if he teaches the children to not hate, and to respect others, regardless of racial or ethnic differences, then the world will improve when they become adults. This new generation will then bring happiness to the world. Joshua knows that these children were victims of their parents’ wrongdoings. He knows that they were born into a society filled with hate. Hate for members of a different race. Hate without reasoning. He feels it is wron g what the adults are doing to the children. They are being brought up to believe that it is OK to mistreat somebody who is "different" from you. This is why Joshua felt he should teach the children, and not the adults. Once Joshua started to communicate with the children, and got to know them better the adults were amazed at how Joshua related to the children so well. He knew their names right from the second he met them, he played their games, and he even let himself lose at them too. Eventually the adults in the town began to realize that whoever this Joshua really was, he was a role model for each and every one of them. The Muslim boy was a very important character in this book. He and one his friends went down to the square where Joshua met with the children every day. His friend told Joshua that the boy was blind. Everybody in the square watched in disbelief as Joshua cured the boy’s blindness with the touch of his hand. The boy’s family were the weapons distributors. After seeing that Joshua was able to fix their boy, they too became good people and thus, making the town a better place. The final event in the story that showed peace was achieved was a soccer game with the Catholics playing against the Protestants.

Accounting Standard in Bangladesh

A REPORT ON APPLICATION OF BANGLADESH ACCOUNTING STANDARDS IN BUSINESS [pic] DEPARTMENT OF FINANCE UNIVERSITY OF DHAKA REPORT ON APPLICATION OF BANGLADESH ACCOUNTING STANDARDS IN BUSINESS FINANCIAL ACCOUNTING –I F-103 Submitted To Dr. H. M. Mosarof Hossain Associate Professor Department of Finance Faculty of Business Administration University of Dhaka Submitted By Members of Group-3 Section-B 14th Batch Department of Finance Names |Roll No | |Upoma Antara Husain |14-052 | |Zubairia Khan |14-050 | |Nazmul Ehsan Omiya |14-054 | |Monowar Hossain |14-008 | |Md. Rubel Ahmed |14-030 | DATE OF SUBMISSION 1 May 2008 TABLE OF CONTENTS CHAPTER I: ? INTRODUCTION ? OBJECTIVES OF APPLYING BAS IN BUSINESS ? IAS ADDOPTED AS BAS ? SHORT DESCRIPTION OF BASs CHAPTER II: ? ABOUT PRIME BANK LIMITED ? BAS USED IN PBL ? APPLICATION OF BASs IN PBL ? IMPORTANCE OF APPLYING BAS IN PBL ? CONCLUSION CHAPTER III: ? ANNEXURE ? BIBLIOGRAPHY CHAPTER I INTRODUCTION The rules and guidelines adopted and im plimented worldwide in accounting record keeping and statement preparation ror maintaining uniformity are known as International Accounting Standared (IAS). IAS were issued between 1973 and 2001 by the board of the International Accounting Standards Committee (IASC). Bangladesh Accounting Standards (BAS) are adopted From IAS by Institute of Chartered Accountants of Bangladesh (ICAB) for preferred accounting practices in all kinds of business in bangladesh. To standardize the accounting system with the level of IAS, the ICAB (Institute of Chartered Accountants of Bangladesh) has been adopting BAS since 1984. The Institute of Chartered Accountants of Bangladesh is a professional accountancy body in the Bangladesh. It is the sole organisation in the Bangladesh with the right to award the Chartered Accountant designation. The ICAB updated and adapted many important and the time demanding standards in several time BAS is a set of standards which controls the system of accounting in Bangladesh. In our country Companies listed with Dhaka & Chittagong Stock exchange are to prepare their accounts according to the Securities and Exchange Rules 1987 and the International Accounting Standards (IAS) as adopted by the Institute of Chartered Accountants of Bangladesh known as Bangladesh Accounting Standards (BAS). At present the (TRC) Technical research Committee of ICAB screens and evaluates IFRSs and recommends particular IFRS to the council of the ICAB for adoption. Prime Bank Limited is one of the promising banks in our banking sector. It is listed with Dhaka and Chittagong Stock Exchange. The financial statements of the Bank are prepared under the historical cost convention except investments and in accordance with the Bank Companies Act, 1991, Bangladesh Bank Circulars, International Accounting Standards and International Financial Reporting Standards adopted by the Institute of Chartered Accountants of Bangladesh as BAS, Companies act 1994, SEC Rules 1987 and other laws and rules applicable in Bangladesh. IAS ADOPTED AS BAS BAS are developed by the ICAB and are based on older IASs – generally those developed by the IASC rather than the improved IASs and new IFRSs developed by the IASB. The Technical and Research Committee of the ICAB develops the standards. Adoption requires approval of the ICAB Council. A list of IASs Adopted as BASs is shown below. IAS |Version of IAS |BAS Number |Remarks | | |Adopted in Bangladesh| | | |IAS 1: Presentation of Financial |1987 |BAS 1 |2003 revisions not yet considered | |Statements | | |by ICAB | |IAS 2 : Inventories |1992 |BAS 2 |2003 revisions not yet considered | | | | |by ICAB | |IAS 7 : Cash Flow Statements |1992 |BAS 7 |— | |IAS 8 :Accounting Policies, Changes in |1993 |BAS 8 |2003 revisions not yet considered | |Accounting Estimates, and Errors | | |by ICAB | |IAS 10: Events After the Balance Sheet |1999 |BAS 10 |— | |Date | | | | |IAS 11: Construction Contracts |1993 |BAS 11 |— | |IAS 12: Income Taxes |2000 |BAS 12 |— | |IAS 14: Segment Reporting |1997 |BAS 14 |— | |IAS 16: Property, Plant and Equipment |1997 |BAS 16 |2003 revisions not yet considered | | | | |by ICAB |IAS 17: Leases |1998 |BAS 17 |2003 revisions not yet considered | | | | |by ICAB | |IAS 18: Revenue |1993 |BAS 18 |— | |IAS 19; Employee Benefits |2002 |BAS 19 |2003 and later revisions not yet | | | | |considered by ICAB | |IAS 20; Accounting for Government Grants |1983 |BAS 20 |— | |and Disclosure of Government Assistance | | | | |IAS 21: The Effects of Changes in Foreign |1993 |BAS 21 |2003 and later revisions not yet | |Exchange Rates | | |considered by ICAB | |IAS 22: Business Combinations |1998 |BAS 22 |IAS 22 has been superseded by IFRS | | | | |3, which has not yet been | | | | |considered by ICAB | |IAS 23: Borrowing Costs |1993 |BAS 23 |— | |IAS 24: Related Party Disclosures |1994 |BAS 24 |2003 revisions not yet considered | | | | |by ICAB | |IAS 25: Accounting for Investments |1987 |BAS 25 |IAS 25 has been superseded by IAS | | | | |39, which has not yet been | | | | |considered by ICAB | |IAS 26: Accounting and Reporting by |1987 |BAS 26 |— | |Retirement Benefit Plans | | | | |IAS 27: Consolidated and Separate |1998 |BAS 27 |2003 revisions not yet considered | |Financial Statements | | |by ICAB | |IAS 28: Investments in Associates |1998 |BAS 28 |2003 revisions not yet considered | | | | |by ICAB | |IAS 29:Financial Reporting in |Not yet Adopted |— |— | |Hyperinflationary Economies | | | | |IAS 30 :Disclosures in the Financial |1990 |BAS 30 |IAS 30 has been superseded by IFRS | |Statements of Banks and Similar Financial | | |7 (effective 2007), which has not | |Institutions | | |yet been considered by ICAB | |IAS 31: Interests In Joint Ventures |1999 |BAS 31 |2003 revisions not yet considered | | | | |by ICAB | |IAS 32 :Financial Instruments: Disclosure |Not yet adopted |— |— | |and Presentation | | | | |IAS 33: Earnings Per Share |1999; |BAS 33 |2003 revisions not yet considered | | | | |by ICAB | |IAS 34: Interim Financial Reporting |1998 |BAS 34 |— | |IAS 35: Discontinuing Operations |1998 |BAS 35 |IAS 35 has been superseded by IFRS | | | | |5, which has not yet been | | | | |considered by ICAB | |IAS 36: Impairment of Assets |1998 |BAS 36 |2004 re visions not yet considered | | | | |by ICAB | |IAS 37: Provisions, Contingent Liabilities|1998 |BAS 37 |1998 | |and Contingent Assets | | | | |IAS 38: Intangible Assets |1998 |BAS 38 |2004 revisions not yet considered | | | |by ICAB | |IAS 39: Financial Instruments: Recognition|Not yet adopted |— |— | |and Measurement | | | | |IAS 40: Investment Property |2000 |BAS 40 |2003 revisions not yet considered | | | | |by ICAB | |IAS 41: Agriculture |Not yet adopted |— |— | SHORT DESCRIPTION ON BAS †¢ BAS 1: Presentation of Financial Statements This Standard prescribes the basis for presentation of general purpose financial statements to ensure comparability both with the entity’s financial statements of previous periods and with the financial statements of other entities. It sets out overall requirements for the presentation of financial statements, guidelines for their structure and minimum requirements for their content. A complete set of financial statements comprises: (a) a statement of financial position as at the end of the period; (b) a statement of comprehensive income for the period; (c) a statement of changes in equity for the period; (d) a statement of cash flows for the period; e) notes, comprising a summary of significant accounting policies and other explanatory information; and (f) a statement of financial position as at the beginning of the earliest comparative period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements. †¢ BAS 2: Inventories The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognized as an asset and carried forward until the related revenues are recognized. This Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventories. Inventories shall be measured at the lower of cost and net realisable value. †¢ BAS 7: Cash Flow Statements The objective of this Standard is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flows which classifies cash flows during the period from operating, investing and financing activities. †¢ BAS 8: Accounting Policies, Changes in Accounting Estimates, and Errors The objective of this Standard is to prescribe the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and corrections of errors. The Standard is intended to enhance the relevance and reliability of an entity’s financial statements and the comparability of those financial statements over time and with the financial statements of other entities. †¢ BAS 10: Events After the Balance Sheet Date The objective of this Standard is to prescribe: a) When an entity should adjust its financial statements for events after the reporting period; and (b) The disclosures that an entity should give about the date when the financial statements were authorized for issue and about events after the reporting period. The Standard also requires that an entity should not prepare its financial statements on a going concern basis if events after the reporting period indicate that the going concern assumption is not appropriate. †¢ BAS 11: Construction Contracts The objective of this Standard is to prescribe the accounting treatment of revenue and costs associated with construction contracts. Because of the nature of the activity undertaken in construction contracts, the date at which the contract activity is entered into and the date when the activity is completed usually fall into different accounting periods. Therefore, the primary issue in accounting for construction contracts is the allocation of contract revenue and contract costs to the accounting periods in which construction work is performed. This Standard shall be applied in accounting for construction contracts in the financial statements of contractors. †¢ BAS 12: Income Taxes The objective of this Standard is to prescribe the accounting treatment for income taxes. For the purposes of this Standard, income taxes include all domestic and foreign taxes which are based on taxable profits. Income taxes also include taxes, such as withholding taxes, which are payable by a subsidiary, associate or joint venture on distributions to the reporting entity. The principal issue in accounting for income taxes is how to account for the current and future tax consequences of: (a) the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognized in an entity’s balance sheet; and (b) Transactions and other events of the current period that are recognized in an entity’s financial statements. †¢ BAS 16: Property, Plant and Equipment The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognized in relation to them. †¢ BAS 17: Leases The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in relation to leases. The classification of leases adopted in this Standard is based on the extent to which risks and rewards incidental to ownership of a leased asset lie with the lessor or the lessee. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. †¢ BAS 18: Revenue The primary issue in accounting for revenue is determining when to recognize revenue. Revenue is recognized when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably. This Standard identifies the circumstances in which these criteria will be met and, therefore, revenue will be recognized. It also provides practical guidance on the application of these criteria. Revenue is the gross inflow of economic benefits during the period arising in the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. This Standard shall be applied in accounting for revenue arising from the following transactions and events: (a) the sale of goods; (b) the rendering of services; and c) the use by others of entity assets yielding interest, royalties and dividends. †¢ BAS 19: Employee Benefits Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees. The object ive of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognize: (a) a liability when an employee has provided service in exchange for employee benefits to be paid in the future; and (b) An expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee benefits. †¢ BAS 20: Accounting for Government Grants and Disclosure of Government Assistance This Standard shall be applied in accounting for, and in the disclosure of, government grants and in the disclosure of other forms of government assistance. Government grants are assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity. They exclude those forms of government assistance which cannot reasonably have a value placed upon them and transactions with government which cannot be distinguished from the normal trading transactions of the entity. Government assistance is action by government designed to provide an economic benefit specific to an entity or range of entities qualifying under certain criteria. Government assistance for the purpose of this Standard does not include benefits provided only indirectly through action affecting general trading conditions, such as the provision of infrastructure in development areas or the imposition of trading constraints on competitors. †¢ BAS 21: The Effects of Changes in Foreign Exchange Rates An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. The objective of this Standard is to prescribe how to include foreign currency transactions and foreign operations in the financial tatements of an entity and how to translate financial statements into a presentation currency. The principal issues are which exchange rate(s) to use and how to report the effects of changes in exchange rates in the financial statements. †¢ BAS 22: Business Combinations The objective of this standa rd is to prescribe the accounting treatment for business combinations (both acquisitions and, in exceptional instances in which the acquirer cannot be identified uniting of interests). It provides guidance on the classification of a business combination, which includes whether an acquirer can be identified, and whether shareholders of the combining entities share mutually in the risks and benefits of the combined entity. BAS 23: Borrowing Costs Borrowing Costs Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognized as an expense †¢ BAS 24: Related Party Disclosures The objective of this Standard is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances with such parties. †¢ BAS 26: Accounting and Reporting by Retirement Benefit Plans This Standard shall be applied in the financial statements of retirement benefit plans where such financial statements are prepared. Retirement benefit plans are arrangements whereby an entity provides benefits for employees on or after termination of service (either in the form of an annual income or as a lump sum) when such benefits, or the contributions towards them, can be determined or estimated in advance of retirement from the provisions of a document or from the entity's practices. The financial statements of a defined contribution plan shall contain a statement of net assets available for benefits and a description of the funding policy. †¢ BAS 27: Consolidated and Separate Financial Statements The objective of BAS 27 is to enhance the relevance, reliability and comparability of the information that a parent entity provides in its separate financial statements and in its consolidated financial statements for a group of entities under its control. The Standard specifies: (a) the circumstances in which an entity must consolidate the financial statements of another entity (being a subsidiary); (b) the accounting for changes in the level of ownership interest in a subsidiary; (c) the accounting for the loss of control of a subsidiary; and (d) the information that an entity must disclose to enable users of the financial statements to evaluate the nature of the relationship between the entity and its subsidiaries. †¢ BAS 28: Investments in Associates This Standard shall be applied in accounting for investments in associates. However, it does not apply to investments in associates held by: (a) venture capital organizations, or (b) Mutual funds, unit trusts and similar entities including investment-linked insurance funds. †¢ BAS 30: Disclosures in the Financial Statements of Banks and Similar Financial Institutions The objective of BAS30 is to prescribe appropriate presentation and disclosure standards for banks and similar financial institutions as a supplement of the requirements of other standards. It provides the Requirement for classification of items in the income statement and balance sheet by their nature, and for the balance sheet in order of relative liquidity. Identifies the income statement and balance sheet line items requiring disclosure. ? Additional disclosure requirements, including concentration of assets, liabilities and off-balance items, losses on loans and advances, and general banking risks. †¢ BAS 31: Interests in Joint Venture: This Standard shall be applied in accounting for interests in joint ventures and the reporting of joint venture assets, liabilities, income and expenses in the financial statements of ventures and investors, regardless of the structures or forms under which the joint venture activities take place. However, it does not apply to ventures’ interests in jointly controlled entities held by: 1. (a) venture capital organizations, or 2. b) Mutual funds, unit trusts and similar entities including investment-linked insurance funds. †¢ BAS 33: Earnings Per Share The objective of this Standard is to prescribe principles for the determination and presentation of earnings per share, so as to improve performance comparisons between different entities in the same reporting period and between different reporting periods for the same entity. The focus of this Standard is on the denominator of the earnings per share calculation. This Standard shall be applied by entities whose ordinary shares or potential ordinary shares are publicl y traded and by entities that are in the process of issuing ordinary shares or potential ordinary shares in public markets. An entity that discloses earnings per share shall calculate and disclose earnings per share in accordance with this Standard. †¢ Bas 34: Interim Financial Reporting The objective of this Standard is to prescribe the minimum content of an interim financial report and to prescribe the principles for recognition and measurement in complete or condensed financial statements for an interim period. Timely and reliable interim financial reporting improves the ability of investors, creditors, and others to understand an entity’s capacity to generate earnings and cash flows and its financial condition and liquidity. This Standard applies if an entity is required or elects to publish an interim financial report in accordance with International Financial Reporting Standards. Interim financial report means a financial report containing either a complete set of financial statements (as described in IAS 1 Presentation of Financial Statements (as revised in 2007)) or a set of condensed financial statements (as described in this Standard) for an interim period. Interim period is a financial reporting period shorter than a full financial year. †¢ BAS 35: Discontinuing Operations The objective of this standard is to enhance the ability to make financial projections by segregating information about discontinuing operations from information about continuing operations. BAS 35 does not establish any recognition or measurement principles in relation to discontinuing operations-these are dealt with under other BAS. In particular, BAS 35 provides guidance on how to apply BAS 36, Impairment of Assets, and BAS 37, Provisions Contingent Liabilities and Contingent Assets, to discontinuing operations. †¢ BAS 36: Impairment of Assets The objective of this Standard is to prescribe the procedures that an entity applies to ensure that its assets are carried at no more than their recoverable amount. An asset is carried at more than its recoverable amount if its carrying amount exceeds the amount to be recovered through use or sale of the asset. If this is the case, the asset is described as impaired and the Standard requires the entity to recognize an impairment loss. The Standard also specifies when an entity should reverse an impairment loss and prescribes disclosures. †¢ BAS 37: Provisions, Contingent Liabilities and Contingent Assets The objective of this Standard is to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets and that sufficient information is disclosed in the notes to enable users to understand their nature, timing and amount. IAS 37 prescribes the accounting and disclosure for all provisions, contingent liabilities and contingent assets, except: (a) Those resulting from executory contracts, except where the contract is onerous. Executory contracts are contracts under which neither party has performed any of its obligations or both parties have partially performed their obligations to an equal extent; (b) Those covered by another Standard. †¢ BAS 38: Intangible Assets The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard. This Standard requires an entity to recognize an intangible asset if, and only if, specified criteria are met. The Standard also specifies how to measure the carrying amount of intangible assets and requires specified disclosures about intangible assets. An intangible asset is an identifiable non-monetary asset without physical substance. †¢ BAS 40: Investment Property The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements. Investment property is property (land or a building—or part of a building—or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) Sale in the ordinary course of business. OBECTIVES OF USING BAS IN BUSINESS †¢ Standardized Accountings : The objective of applying BAS in business is to standardize the accounting issues and preparation of financial statements. †¢ International Recognition: To keep consistency with International Business the use of International Accounting Standards adopted as BAS is important. It helps the businesses to gain international recognition. †¢ Maintaining Uniformity: Accounting standards are maintained in order to ensure uniformity in recording accounts and preparing financial statements within the businesses both in country and abroad. †¢ Ensuring Transparency: An important objective of applying BAS is to ensure proper disclosure of necessary information in the financial statements. It provides transparency in the statements. †¢ Providing Reliability: The application of BAS provides reliability and consistency in the accounting record keeping and financial statements to the outside parties. CHAPTER II [pic] ABOUT PRIME BANK LIMITED The Prime Bank Limited (â€Å"the Bank†) was incorporated as the public limited company in Bangladesh under companies Act, 1994. It commenced its banking business with one branch from April17, 1995 under the license issued bi Bangladesh Bank. Presently the Bank has 61 branches all over Bangladesh and a booth located at Dhaka Club, Dhaka. The Bank had no overseas branches as at 31 December 2007. The Bank went for Initial Public Offerings in 1999 and its share is listed with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited as a publicly traded company for its general class of shares. VISION The vision of the Bank is to be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability having strong liquidity. MISSION The mission of the Bank is to build Prime Bank Limited into an efficient, market driven, customer focused institution with good corporate governance structure. Continuous improvement in the business policies, procedure and efficiency through integration of technology at all levels. STRATEGIC PRIORITY The strategic priority of the Bank is to have sustained growth, broaden and improved range of products and services in all areas of banking activities with the aim to add increased value to share holders’ investments and offer highest possible benefits to the customers. CORE VALUE †¢ For customers It refers to become most caring Bank by providing the most courteous and efficient services in every area of our business. For employees It promotes well-being of the employees. †¢ For shareholders It ensures fare return on the investments of the shareholders through generating stable profit. †¢ For the community As a socially responsible corporate entity the Bank maintain s close adherence to national policies and objectives. [pic]BAS FOLLOWED IN PRIME BANK The Institute of Chartered Accountants of Bangladesh (ICAB) is the sole authority for adoption of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). While preparing the financial statements, Prime Bank allied most of IAS and IFRS as adopted by ICAB. Details are given below: Name of the BAS | BAS no | Status | |Presentation of Financial Statements | 1 | Applied | |Stationeries | 2 | Applied | |Cash Flow Statements | 7 | Applied | |Accounting Policies, Changes in Accounting Estimates and Errors | 8 | Applied | |Events after the Balance Sheet Date | 10 | Applied | |Construction Contracts | 11 | N/A | |Income Taxes | 12 | Applied | |Segment Reporting | 14 | Applied | |Property, Plant and Equipment | 16 | Applied | |Leases | 17 | Applied | |Revenue | 18 | Applied | |Employee Benefits | 19 | Applied | |Accounting for Government Grants and Disclosure of Government Assistance | 20 | N/A | |The Effects of Changes in Foreign Exchange Rates | 21 | Applied | |Borrowing Costs | 23 | Applied | |Related Party Disclosures | 24 | Applied | |Accounting for Investments | 25 | Applied | |Accounting and Reporting by Retirement Benefit Plans | 26 | Applied | |Consolidated and Separate Financial Statements | 27 | Applied | |Investments in Associates | 28 | N/A | |Disclosures in the Financial Statements of Banks and similar Financial Institutions | 30 | Applied | |Interests in Joint Ventures | 31 | N/A | |Earnings per share | 33 | Applied | |Interim Financial Reporting | 34 | Applied | |Impairment of Assets | 36 | Applied | |Provisions, Contingent Liabilities and Contingent Assets | 7 | Ap plied | |Intangible Assets | 38 | N/A | |Investment Property | 40 | Applied | |Agriculture | 41 | N/A | | Name of the BFRS | BAS no | Status | |Share Based Payment | 2 | N/A | |Business Combinations | 3 | N/A | |Non-current Assets Held for Sale and Discontinued Operations | 5 | N/A | |Exploration for and Evaluation of Mineral Resources | 6 | N/A | *N/A=not applicable [pic] APPLICATION OF BAS IN PRIME BANK LIMITED For the convenience of discussion we are showing the effect of some important BASs in record keeping and accounting of Prime Bank Limited. †¢ BAS No. 1: Preparation of Financial Statements: The financial statements of the bank are prepared in accordance with BAS-1 to give a fair view of the state of the Bank’s affairs and of the results of the operations and cash flows. The financial reports for the year ended in 31 December 2007 are given as annexure for viewing. †¢ BAS No. 7: Cash Flow Statement Cash flow statement has been prepared in accordance with the BAS-7 â€Å"Cash Flow Statement† under direct method as recommended in BRPD Circular No. 14, dated June 25 2003 issued by the Banking Regulation and Policy Department of Bangladesh Bank. †¢ BAS No. 12: Income Taxes Provision for current income tax has been made @ 45% as prescribed in the Finance Act, 2007 on the accounting profit made by the Bank after considering some of the add backs to the income and disallowances as expenditure as per income tax laws in compliance with BAS-12 â€Å"Income Taxes†. †¢ BAS No. 16: Property, Plant and Equipment All fixed assets are stated at cost less accumulated depreciation as per BAS-16 â€Å"Property, Plant and Equipment†. The cost of acquisition of an asset comprises its purchase price and any directly attributable cost of bringing the asset to its working condition for its intended use inclusive of inward freight, duties and non-refundable taxes. †¢ BAS No. 17: Leases Leases are classified as finance leases whenever the ‘terms of the lease’ transfers substantially all the risks and rewards of ownership to the lessee as per BAS-17 â€Å"Leases†. ? The Bank as lessor Amount due from lessees under finance leases are recorded as receivables at the amount of the Bank’s net investment in the leases. The Bank as lessee Assets held under finance lease s are recognized as assets of the Bank at the date of acquisition or if lower, at the present value of the minimum lease payments. †¢ BAS No. 18: Revenue ? Interest income In terms of the provisions of the BAS-18 â€Å"Revenue†, the interest income is recognized on accrual basis. ? Investment income Interest income on investments is recognized on accrual basis. ? Fees and commission income Fees and commission income arises on services provided by the Bank are recognized on a cash receipt basis. ? Dividend income on share Dividend income on share is recognized during the period in which declared and ascertained. Interest paid and other expenses in Conventional Banking In terms of the provision of the BAS-1 â€Å"Presentation of Financial Statements† interest and other expenses are recognized on accrual basis. ? Profit paid on deposits in Islamic Banking Profit paid to mudaraba depositors is recognized on accrual basis as per provisional rate. †¢ BAS No. 19: Employee benefits The retirement benefits accrued for the employees of the Bank as on reporting date have been accounted for in accordance with the provisions of BAS-19, â€Å"Employee Benefit†. Bases of enumerating the retirement benefit schemes operated by the Bank are outlined below: ? Provident fund Provident fund benefits are given to the permanent employees f the Bank in accordance with Bank’s service rules. All confirmed employees of the Bank are contributing 10% of their basic salary as subscription to the fund. The Bank also contributes equal amount of the employees’ contribution. ? Gratuity fund Actuarial valuation of gratuity scheme had been made to assess the adequacy of the liabilities provide for the scheme as per BAS-19, â€Å"Employee Benefits†. ? Welfare fund Prime Bank’s employees’ welfare fund is subscribed by monthly contribution of the employees. The Bank also contributes to the Fund from time to time. Disbursement from the fund is done as per rules for employees’ welfare fund. ? Incentive bonus Prime Bank started an incentive bonus scheme for its employees. 10% of net profit after tax is given to the employees in every year as incentive bonus. This bonus amount is being distributed among the employees based on their performance. †¢ BAS No. 21: The Effects of Changes in Foreign Exchange Rates Foreign currency transactions are converted into equivalent Taka using the ruling exchange rates on the dates of respective transactions as per BAS-21, â€Å"The Effects of Changes in Foreign Exchange Rates†. Foreign currency balances held in US Dollar are converted into Taka at weighted average rate of inter-bank market as determined by Bangladesh Bank on the closing date of every month. Balances held in foreign currencies other than US Dollar are converted into equivalent US Dollar at buying rates of New York closing of the priviou7s day and converted into Taka equivalent. †¢ BAS No. 33: Earnings per Share Basic earnings per share have been calculated in accordance with BAS-33, â€Å"Earnings per Share† which has been shown on the face of the profit and loss account. This has been calculated by dividing the basic earnings by the weighted average number of ordinary shares are standing during the year. The bonus shares issued during the year 2007 were treated as if they had been in issue in previous year also (declared for 2006 result). Hence, in computing the basic earning per share of 2006, the total number of shares including the said bonus shares has been considered as weighted average no. f shares outstanding during the year 2006 as per BAS-33, â€Å"Earning per Share†. †¢ BAS No. 37: Provisions, Contingent Liabilities and Contingent Asset s A provision is recognized in the balance sheet when the Bank has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligations, in accordance with the BAS 37, â€Å"Provisions contingent Liabilities and Contingent Assets†. [pic] IMPORTANCE OF APPLYING BAS IN PBL †¢ Abiding By The Rules: Adopted BASs are enforceable for listed companies by SEC rules. So proper application of BAS in PBL is maintained to abide by the regulations of the nation. Guideline For Accounting Issues: BAS provides guidelines on different accounting issues to contribute to a common strategy and framework of reference for accountancy development and ensures transparent financial reporting, in accordance with sound corporate governance. †¢ Presenting Relevant & Reliable Information: Applying BAS in the record keepings and preparation of financial statements makes the accounting information relevant and reliable to all involved parties. †¢ Assistance in International Business: Application of BAS is important for keeping up to the International Standards which is important for International business. †¢ Co-operation Between Different Parties: The use of BAS helps promote co-operation between governments, the accountancy and other professions, the international financial institutions, regulators, standard setters, capital providers and issuers. CONCLUSION In the world of globalization it is essential for businesses around the world to standardize the accounting record keepings and preparation of financial statements. The government of Bangladesh has made the International Accounting Standards adopted by Institute of Chartered Accountants of Bangladesh as Bangladesh Accounting Standards enforceable for all listed companies in order to ensure transparency and standard in accounting issues. Like other listed companies of our country Prime Bank Limited record their accounts and prepare their financial statements in compliance with these standards. The effects of these standards provide guidance and reliability in the accounting information. CHAPTER III ANNEXURE [pic] Balance Sheet As at 31 December 2007 2007 2006 PROPERTY AND ASSETS Taka Taka Cash In hand (including foreign currencies) 663,028,189 452,560,474 Balance with Bangladesh Bank and its agent bank(s) (including foreign currencies) 4,755,788,872 3,662,426,602 5,418,817,061 4,114,987,076 Balance with other banks and financial institutions In Bangladesh 1,625,581,391 627,964,960 Outside Bangladesh 791,887,088 485,749,435 2,417,468,479 1,113,714,395 Money at call and short notice – 1,490,000,000 Investments Government 12,090,285,095 7,673,700,299 Others 607,735,533 170,682,648 12,698,020,628 7,844,382,947 Loans and advances/investments Loans, cash credits, overdrafts, etc 53,814,967,656 41,307,504,065 Bills purchased and discounted ,868,053,856 3,702,713,983 57,683,021,512 45,010,218,048 Fixed assets including premises, furniture 660,490,066 412,107,309 Other assets 710,613,052 914,107,309 Non-banking assets – – Total assets 79,588,430,798 60,899,475,793 2007 2006 LIABILITIES AND CAPITAL Taka Taka Liabilities Borrowing from other banks, financial institutions 390,869,490 345,944,757 Deposits and other accounts Current/ al-wadeeah current deposits 10,590,463,357 8,261,264,165 Bills payable 1,144,540,968 528,231,748 Savings bank 6,027,260,878 4,125,622,204 Term deposits 52,750,109,722 41,808,962,467 Bearer certificate of deposit – – Other deposits – – 70,512,374,925 54,724,080,584 Other liabilities 3,411,909,021 1,969,561,728 Total liabilities 74,315,153,436 57,039,587,069 Capital/ Shareholders’ equity Paid-up capital 2,275,000,000 1,750,000,000 Statutory reserve 1,873,543,597 1,404,170,652 Revaluation gain 2,723,913 – Other reserve – – Retained earnings 1,112,009,852 705,718,072 Total Shareholders’ equity 5,273,277,362 3,859,888,724 Total liabilities and Shareholders’ equity 79,588,430,798 60,899,475,793 Balance Sheet as at 31 December 2007 [pic] 2007 2006 Taka Taka OFF-BALANCE SHEET ITEMS Contingent liabilities Acceptances and endorsements – – Letters of guarantee 10,480,381,241 9,476,314,713 Irrevocable letters of credit 21,193,628,862 17,392,748,116 Bills for collection 1,414,716,406 1,060,486,687 Other contingent liabilities – – 33,088,726,509 27,929,549,516 Other commitments Documentary credits – – Forward assets purchased – – Undrawn ote issuance – – Undrawn formal standby facilities – – Liabilities against forward purchase and sale – – Others – – 33,088,726,509 27,929,549,516 Other memorandum items Value of travellers’cheques in hand 141,383,952 14,284,764 Value of Bangladesh Patras in hand 1,348,897,500 346,193,975 1,490,281,452 360,478,739 Total 34,579,007,961 28,290,028,255 Profit and Loss Account For the year ended 31 December 2007 [pic] 2007 2006 Taka Taka Interest income 7,170,099,616 5,198,790,368 Interest paid on deposits (5,226,592,564) (3,698,441,036) Net interest 1,903,507,052 1,500,349,332 Investment income 1,294,205,056 419,496,059 Commission, exchange 1,198,942,404 998,117,247 Other operating income 419,555,862 314,073,525 Total operating income (A) 4,816,210,375 3,232,036,163 Salaries and allowances 725,285,435 561,930,122 Rent, taxes and insurances 159,529,399 113,987,335 Legal expenses 24,728,362 4,951,307 Postage, stamp 60,999,650 47,690,052 Stationery 121,691,050 63,382,686 Managing Directors’ salary 9,131,448 6,400,000 Directors’ fees 2,224,444 2,734,300 Auditors’ fees 791,725 570,990 Charges on loan losses – – Depreciation and repair of Bank’s assets 102,185,026 71,657,509 Other expenses 352,779,110 227,768,616 Total operating expenses (B) 1,559,345,650 1,101,072,827 Profit/ (Loss) before provision(c=A-B) 3,256,864,725 2,130,963,336 Provision for loans/investments Specific provision (350,000,000) (210,000,000 General provision (350,000,000) (180,000,000) Provision for off-balance sheet items (210,000,000) – (910,000,000) (390,000,000) Provision for diminution – – Other provision – – Total provision (D) (910,000,000) (390,000,000) Total profit / (loss) before taxes(C-D) 2,346,864,725 1,740,963,336 Provision for taxation Current tax (1,015,000,000) (592,362,815) Deferred tax 68,800,000 96,709,995 Net profit after taxation 1,400,664,725 1,051,890,526 Retained earnings (previous) 180,718,073 2,020,213 1,581,382,073 1,053,910,739 Appropriations Statutory reserve 469,372,945 348,192,667 General reserve – – 469,372,945 348,192,667 Retained surplus 1,112,009,852 705,718,072 Earnings per share (EPS) 61. 57 46. 24 Cash Flow Statement For the year ended 31 December 2007 [pic] 2007 2006 Taka Taka A) Cash flows from operating activities Interest receipts in cash 7,076,601,586 5,616,509,362 Interest payments (5,266,592,564) (3,698,441,036) Dividends receipts 7,976,958 1,777,066 Fees and commission receipts in cash 1,198,942,404 998,117,247 Recoveries of loans 415,867 – Cash payments to employees (729,416,883) (596,830,122) Cash payments to suppliers (286,567,522) (175,315,699) Income taxes paid (476,148,788) (590,139,079) Receipts from other operating activities 419,555,862 314,067,381 Payments for other operating activities (470,041,003) (296,680,802) Cash generated from operating activities 1,474,725,917 1,573,064,318 Increase/ (decrease) in operating assets and liabilities Statutory deposits – – Purchase of trading securities (1,197,259,262) (1,161,365,969) Loans and advances to other banks – – Loans and advances to customers (12,672,803,463) (13,094,105,540) Other assets (3,796,358,897) 2,494,489,750) Deposits from other banks /borrowings 62,890,500 (490,439,000) Deposits from customers 15,171,985,121 18,833,626,261 Others liabilities accounts of customers 616,309,220 (140,262,287) Trading liabilities – – Other liabilities 1,437,147,293 (177,440,778) (378,089,488) 1,275,522,937 Net cash from operating activities 1,096,636,429 2,848,587,255 B) Cash flows from operating activities Debentures 4,932,282 5,000,000 Proceeds from sale of securities – – Payments for purchase of securities (430,320,723) (58,856,689) Purchase of property (333,719,898) (98,473,598) Payment against lease obligation (2,785,500) (1,995,468) Proceeds from sale of property 277,045 325,900 Net cash used in investing activities (761,616,794) (153,999,855) C) Cash flows from financing activities Dividend paid – – Net cash from financing activities – – D) Net increase/(decrease) in cash and cash equivalents 335,019,635 2,694,587,400 E) Effects of exchange rate – – F) Cash and cash equivalents at beginning of the year 7,468,239,215 4,773,651,851 G) Cash and cash equivalents at the end of the year 7,803,258,850 7,468,239,215 Cash and cash equivalents at the end of the year Cash in hand 663,028,189 452,560,474 Balance with Bangladesh Bank 4,755,788,872 3,662,426,602 Balance with other banks 2,382,784,489 1,061,064,639 Money at call and short notice – 1,490,000,000 Reverse repo – 800,000,000 Prize bonds 1,657,300 2,187,500 7,803,258,850 7,468,293,215 Statement of Changes in Equity Particulars |Paid up capital |Statutory reserve |Revaluation |Retained earnings |Total | | |(Taka) |(Taka) |gain/loss |(Taka) |(Taka) | | | | |(Taka) | | | |Balance as at 1 January 2007 |1,750,000,000 |1,404,170,652 | – |705,718,072 |3,859,888,724 | | | | | | | | |Changes in accounting policy | | | | | | | | | | | | | | | | | | | | |- |- |- |- |- | |Restated Balance |1,750,000,000 |1,404,170,652 | – |705,718,072 |3,859,888,724 | | | | | | | | |Surplus on revaluation of |- |- |- |- |- | |properties | | | | | | | | | | | | | |Surplus of investments |- |- |12,723, |- |12,723,913 | | | | |913 | | | |Currency translation differences | | | | | | | |- |- |- |- |- | |Net gains and | | | | | | |losses(Unrecognized) |- |- |12,723, |- |- | | | | |913 | | | |Net profit for the year | | | | | | | |- |- | |1,400,664, |1,400,664,725 | |Dividends | | |- |725 | | | | | | | | | |Issue of share capital |525,000,000 – | |(525,000, |- | | | | |- |000) | | |Appropriation | | | | | | | |- |- | |- |- | | | | |- | | | | |- |469,372,945 | |(469,372, |- | | | | |- |945) | | |Balance as at 31 December 2007 | | | | | | | |2,275,000,000 |1,873,543,597 |12,723,

History Nightingale vs Seacole Essay

Do you agree with the view that Mary Seacole, and not Florence Nightingale was the real ‘Angel of Mercy’ during the Crimean War I agree totally with the view that Mary Seacole was the real ‘Angel of Mercy’ although I can understand why there may be some evidence suggesting that Nightingale warranted the title. Sources 2C and 2O agree with the view that Nightingale was the ‘Angel of Mercy’ whereas Source V gives evidence that shows Seacole deserved to herald the title.The weight of evidence clearly supports the view seen in Source V saying Seacole was the real ‘Angel of Mercy’ due to the provenance that surrounds the other two sources which support Nightingale. There is a lot of evidence to suggest that Mary Seacole really was the angel of Mercy. This is very clearly supported in Source V which describes her work in comparison to that of Florence Nightingale. Source V, which is an extract from a book called â€Å"The Victorians† written by A. N.Wilson and published in 2002, states how Seacole was very ‘attentive’ and was always ‘on hand for the troops’ so therefore of course showing Seacole in a very good light. The source was produced to show the readers what the modern day revisionist view is in regards to who the real ‘Angel of Mercy’ was and also how the work Nightingale did was minimal and had no positive effect on the soldiers. The author has clearly been well informed and has a strong agenda in wanting to play down the role of Nightingale in the Crimea.When comparing this to Source O, we can clearly see the difference between the Jingoistic and Traditionalist view of Nightingale being almost angelic and even like the Virgin Mary compared to the revisionist view where she is criticised hugely. Source O may have a very different perspective on Nightingale’s role during the Crimean War, however it is still valid as it shows the view point of British peopl e of Nightingale being a hero during Victorian times.Also, Source 2C is a traditionalist view and we now know that many of the things stated within it are false such as the statement that she ‘tended the dying’. Furthermore, Seacole has to be considered as the real Angel of Mercy due to the great efforts she made just to get out to the Crimea in which she had to pay money herself to get there. She was previously turned down a position as a nurse under Nightingale’s leadership, which it is thought, could be to do with the fact she was black.Her heroism was proven further through her setting up the ‘British Hotel’ in Scutari that tended to the troops. As well as giving them provisions when they were in need. In addition, we can clearly see the bravery she possessed from the fact she would minister to the wounded and the dying on the actual battlefield. She was willing to risk her life to save others. Seacole gave an honest recollection within her diari es of the things she did out in the Crimea and gave a description of her everyday life out there, which clearly involved so much hard work.The Times journalist at the time William Howard Russell, who himself was out in the Crimea, backs up the opinion that Mary Seacole was the real ‘Angel of Mercy’, stating how ‘she doctors and cures all manner of men with extraordinary success’ just going to show the extent of the positive impact she had on the troops during the Crimean War. Moreover, Dr Reid, a surgeon in the Army at the time, who states how he met ‘a celebrated person ‘who’ did not spare herself if she could do any good to the suffering soldiers, furthers Russell’s opinion.This once again goes to show the nature of the person she was and the impact she had which is seen in Source O. Therefore, there is strong evidence to suggest that Mary Seacole, and not Florence Nightingale, was in fact the true ‘Angel of Mercy’ d uring the Crimean War. There is also substantial evidence to suggest that Florence Nightingale, and not Mary Seacole was the real ‘Angel of Mercy’ during the Crimean War. To begin with, both Source 2C and Source 2O show a great deal of support towards the view that Nightingale was a hero and was the true ‘Angel of Mercy’.Source 2C states how ‘Florence Nightingale battled as valiantly as any soldier in the field to improve conditions’ giving us an impression as to the extreme effort she put in to helping out the British troops. It states how she worked with ‘incredible energy’ once more showing the amount of work she put in. This can be compared to Source 20 which also portrays Nightingale as being angelic and tending to the men for their every need. We now know that she didn’t actually treat the men herself and instead supervised whilst other nurses did this work. Source 2C was written by Denis Judd and is an extract from th e 1975 book â€Å"The Crimean War†.Judd clearly had an agenda to portray Nightingale well and perhaps hadn’t got the benefit of receiving all the evidence necessary to produce a completely truthful representation. It does however give us a perspective into the opinions people held until about ten years ago. Furthermore, there is a huge amount of evidence to suggest that Nightingale was in fact ineffective and perhaps even had a negative effect on the soldiers in The Crimea. This can clearly be seen due to the death rate rising to 42 per 1000 during her time at the Scutari between November 1854 and March 1855.This is clearly down no the filthy conditions that the hospital managed to get into whilst she was there with the floors being covered in muck and â€Å"crawling with vermin† which obviously led to many diseases such as gangrene and in particular cholera. Cholera was the disease that resulted in the most deaths. Before Nightingale arrived, we know that the c onditions were much better and were described as ‘sufficiently comfortable’ and ‘clean and airy’, but this changed and rapidly declined following Nightingale’s arrival thus meaning she cannot be considered as being the ‘Angel of Mercy’.This view is furthered from the fact that following the arrival of sanitary commission, the conditions changed for the better and the death rate went down to 2 per 1000. In addition Nightingale was very arrogant and jealous of anyone who competed with her and even accused Mary Stanley of ‘plotting to set up an opposition’, which never would have happened, had Nightingale not have turned down her help. This once again shows how she was not the hero that Victorian society thought she was as seen in Source 2C and Source 2O. Thus, there is some evidence to suggest that Florence Nightingale was the ‘Angel of Mercy’ and not Mary Seacole.However that evidence is very weak in comparison t o the evidence suggesting that Seacole warranted the title of ‘Angel of Mercy’. To conclude, Mary Seacole and not Florence Nightingale was the real ‘Angel of Mercy’ due to a number of reasons addressed. In Sources 2C and 2O, although they describe and show Nightingale being angelic and having a huge impact on the soldiers lives positively, they can’t be seen as true because they were written at a time where Nightingale was seen as a hero and people held a much more traditionalist view.This differs to Source V which is a revisionist view and was written by an author who was well informed in comparison to the ill-informed Dennis Judd and the artist who painted Source O. Overall, it is very clear that the evidence for Mary Seacole being the true ‘Angel of Mercy’ far outweighs that of Florence Nightingale deserving the name so therefore in my opinion Mary Seacole was the true ‘Angel of Mercy’. David Hughes-D’Aeth

Free Essays on Michealangelo Vinci

Michelangelo was pessimistic in his poetry and an optimist in his artwork. Michelangelo’s artwork consisted of paintings and sculptures that showed humanity in it’s natural state. Michelangelo’s poetry was pessimistic in his response to Strazzi even though he was complementing him. Michelangelo’s sculpture brought out his optimism. Michelangelo was optimistic in completing The Tomb of Pope Julius II and persevered through it’s many revisions trying to complete his vision. Sculpture was Michelangelo’s main goal and the love of his life. Since his art portrayed both optimism and pessimism, Michelangelo was in touch with his positive and negative sides, showing that he had a great and stable personality. Michelangelo’s artwork consisted of paintings and sculptures that showed humanity in it’s natural state. Michelangelo Buonarroti was called to Rome in 1505 by Pope Julius II to create for him a monumental tomb. We have no clear sen se of what the tomb was to look like, since over the years it went through at least five conceptual revisions. The tomb was to have three levels; the bottom level was to have sculpted figures representing Victory and bond slaves. The second level was to have statues of Moses and Saint Paul as well as symbolic figures of the active and contemplative life- representative of the human striving for, and reception of, knowledge. The third level, it is assumed, was to have an effigy of the deceased pope. The tomb of Pope Julius II was never finished. What was finished of the tomb represents a twenty-year span of frustrating delays and revised schemes. Michelangelo had hardly begun work on the pope’s tomb when Julius commanded him to fresco the ceiling of the Sistine Chapel to complete the work done in the previous century under Sixtus IV. The overall organization consists of four large triangles at the corner; a series of eight triangular spaces on the outer border; an intermediate series of figures; ... Free Essays on Michealangelo Vinci Free Essays on Michealangelo Vinci Michelangelo was pessimistic in his poetry and an optimist in his artwork. Michelangelo’s artwork consisted of paintings and sculptures that showed humanity in it’s natural state. Michelangelo’s poetry was pessimistic in his response to Strazzi even though he was complementing him. Michelangelo’s sculpture brought out his optimism. Michelangelo was optimistic in completing The Tomb of Pope Julius II and persevered through it’s many revisions trying to complete his vision. Sculpture was Michelangelo’s main goal and the love of his life. Since his art portrayed both optimism and pessimism, Michelangelo was in touch with his positive and negative sides, showing that he had a great and stable personality. Michelangelo’s artwork consisted of paintings and sculptures that showed humanity in it’s natural state. Michelangelo Buonarroti was called to Rome in 1505 by Pope Julius II to create for him a monumental tomb. We have no clear sen se of what the tomb was to look like, since over the years it went through at least five conceptual revisions. The tomb was to have three levels; the bottom level was to have sculpted figures representing Victory and bond slaves. The second level was to have statues of Moses and Saint Paul as well as symbolic figures of the active and contemplative life- representative of the human striving for, and reception of, knowledge. The third level, it is assumed, was to have an effigy of the deceased pope. The tomb of Pope Julius II was never finished. What was finished of the tomb represents a twenty-year span of frustrating delays and revised schemes. Michelangelo had hardly begun work on the pope’s tomb when Julius commanded him to fresco the ceiling of the Sistine Chapel to complete the work done in the previous century under Sixtus IV. The overall organization consists of four large triangles at the corner; a series of eight triangular spaces on the outer border; an intermediate series of figures; ...

Pablo Picasso Blue Period

Pablo Picasso Blue Period The Blue Period in the oeuvre of Pablo Picasso is defined as his paintings created in years 1901-1904. It is characterized by obvious domination of various forms of blue colors in paintings. Interestingly, at this point of his life he was definitely feeling blue.Advertising We will write a custom essay sample on Pablo Picasso: Blue Period specifically for you for only $16.05 $11/page Learn More The preceding year before the beginning of the Blue Period appeared to be shocking for the artist. Pablo Picasso’s best friend, Carlos Casagemas, committed a suicide. This event is considered to have led the artist to the period of melancholy and depression (Warncke, 201). Feeling frustrated and left alone, Pablo Picasso tries to express his emotions with the help of canvas and oil. He paints himself and other people with unhappy expressions; emptiness can be read on their faces. Pablo Picasso’s Blue Period can be defined as the transition of the artist from classical to abstract painting (Getlein,28). While creating the paintings, Pablo Picasso was very young (21-25). Therefore, some drawbacks in composition can be observed at the Blue Period. However, at his time, Pablo Picasso made a real revolution in the world of art with his works. Unusual, serious and grotesque, they form a special class of pictures which introduce the age of modern art. The Blue Period includes such works as Self portrait, Le gourmet, Blue Nude, La Celestina, Evocation, burial of Casagemas, Casagemas’ Death, Two sisters, the meeting, Life, Old Guitarist, Child with a Dove, Poor people on the seashore, Susanne Bloch, and others. Child with a dove â€Å"Child with a dove†, painted in 1901, is the painting which opens the Picasso’s series of the paintings of the Blue Period. Unlike the most of paintings of this period, it is very tender and mild.Advertising Looking for essay on art and design? Let's see if we can help you! Get you r first paper with 15% OFF Learn More A little girl holding a white dove on a playground looks very sad. The picture is still, yet the viewers expect the doe to fly away soon; that is why the subconscious dynamics is present in the work. The light blue and green pastel tones intensify the melancholic mood of the painting. However, the vivid black contours make the figures very contrastive. The brushstrokes can be seen; moreover, it is clear that preceding to the green phone Picasso used deep blue. Interestingly, starting from this painting the author started to sign his works as simply â€Å"Picasso†, with no initials (Raynal, 81). In this painting, the influence of such artists as Gauguin and Cezanne on Picasso’s style of painting can be noticed. The Absinthe Drinker â€Å"The absinthe drinker†, created in 1901, is a work which depicts the culture of Paris of that time. Absinthe, at that time a cheap infusion of weeds, was very spread among the youth. A man with a bottle of absinthe was a casual picture of 19th century (Gilot, 241). The Picasso’s character is very tragic; his posture and expression emphasize his loneliness. He is sitting with his drunken eyes staring in deep thoughts; he is hugging himself with one arm, which is a sign of emptiness, and supporting his chin with another hand. This hand is standing strictly vertical and is situated in the center of the composition, making the painting massive and rude. The palette is comparatively rich; the typical blue colors are combined with red, yet they still are cold. The texture of the painting is homogenious. The painting is now kept in Russia, at the Hermitage in St. Petersburg.Advertising We will write a custom essay sample on Pablo Picasso: Blue Period specifically for you for only $16.05 $11/page Learn More Self portrait The picture â€Å"Self portrait† was also created in 1901. Painted with oil, this work is very express ive. Pablo Picasso shows himself as a serious figure looking straight into the viewer’s eyes. He is holding his head close to his shoulders, which signals the depressed and insecure state. He is wearing black; the rest of the picture is presented in blue tones. Despite the motionless figure, the painting looks very expressive because of contrasted colors. The red lips prove the contrast with cold colors and intensify the emotionality of the painting. The contours are highlighted with thick black lines, which make the style similar to that of Picasso (Richardson, 162). The texture is homogeneous; the brushstrokes are slightly noticeable. The work was one of the objects on a famous Spanish exhibition called â€Å"From El Grego to Picasso†. At the moment the painting is exhibited at the Hotel Salà ©, currently the Musà ©e National Picasso in Paris. Evocation, burial of Casagemas Advertising Looking for essay on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More After Pablo Picasso’s best friend’s suicide, the artist paints a set of pictures related to his death. One of them is â€Å"Evocation, burial of Casagemas†, created in 1901. This work is quite big: its original size is 150.5 x 90.5 cm. It depicts the death of Casagemas in two dimensions: one, people mourning his death on the Earth, and the other, people greeting him in Heaven, where Casagemas arrives on a white horse. Heaven take 2/3 of the picture and is painted with pale, cold blue and green with bright white stripes symbolizing clouds. These features signify that the artist gets closer to the cubist technique with its vivid forms and bright boundaries. The scene on Earth is painted in warm tones. The depicted people have no faces, but their postures are extremely expressive; they all show deploration. Noticeably, the Earth part is still, while the heaven part is very dynamic. What is more, the colors used are also very dynamic. In fact, the colors are â€Å" dirty†, which gives the feeling of massiveness. This painting greatly demonstrates how good Picasso was at organizing the composition with many people in a way that looks natural. Casagemas’ Death One of the most striking works of Picasso’s Blue Period is â€Å"Casagemas’ Death†. As it is known, Picasso’s best friend committed a suicide in a temple (Leal, 159). This fact could serve as a reason why the central object of the painting is a bright light of a candle. The rays of the candle enlighten the face of Casagemas. The cold colors of the dead body are contrasted with the hot light – a comparison of death and life. The still body is combined with the dynamic flame. The candle is the only vertical line on the painting, which makes it look like an axis of the picture. The grotesque brushstrokes make the painting even more convincing. The zoomed scale makes an impression of the real presence near the object; in addition, the falling ho rizon adds the pessimism to the already tragic plot. The texture is grained; the artist used a thick layer of the paint. All in all, the painting is very tragic and expressive. The painting is now kept in France, at the Musà ©e Picasso in Paris. Le gourmet The name of this picture, â€Å"Le gourmet†, is often translated as â€Å"The Greedy Child†. However, if translated from French this word actually means â€Å"gastronome†. Picasso shows a boy eating at a table. The dynamical character of the boy is supported by mosaic surrounding; however, even despite making some moves he stays motionless. In comparison with other works of the Blue Period, this work can be defined as the most aristocratic one. In contrast to death, prostitutes and alcoholics Picasso depicts a boy with perfect hair and manners (Cowling, 319). Furthermore, the boy’s figure is shown as small with the help of surrounding objects, which are big; even the plate is too wide for the boy†™s hands. This can be a sign of the character’s loneliness. The colors are pale blue, as in most of the pictures of the period; the warm stains are also present. This picture differs from others by the technique of painting: the brushstrokes are very shallow and vivid. This technique gives an impression of a crayon-painted picture. This picture also contains more details than others; therefore, the elements of classicism are obvious. At the moment the painting is together with some of the works of Picasso’s Blue Period in USA, at the National Gallery of Art in Washington. Blue Nude The picture â€Å"Blue Nude† was painted in 1902. It depicts a necked woman crying sitting with her back to the viewers. Her body and the background are painted identically; only the thick black lines show her shape. The author also uses pink tones in order to contrast between the body and the surrounding. In this picture Pablo Picasso tries to make the first steps to primitivism, showing the simplified shapes (Franck, 143). The colors are not presented separately; all the tones seem to be flowing out from each other. The setting is unclear, as the painted woman has no ground under her; however, she does not look like hanging in the air: her posture is obviously fixed. All in all, despite the vivid lines, the picture looks very integral. La Celestina â€Å"La celestina† was painted in 1903. On the picture there is a woman with slightly grayed hair. The composition is still. She sits in a posture, traditional for Picasso’s portraits: with her body turned 30% to the West and her head turned full face to the viewer. The woman is dressed strictly: she has a black headscarf on. However, her facial expression shows some foxy thoughts. Her eyes, one of which is blind, are staring right, her eyebrows slightly raised, and her lips mysteriously simpering. Thus, Picasso reveals the character of the woman: both the model and Celestina were procuresses (Jaf fe, 82). The dark tones are presented by homogeneous style of painting. The absence of the setting emphasizes the importance and expressiveness of the character. The painting is now kept together with the author’s self-portrait of the Blue Period, in Paris, the Musà ©e National Picasso. Two sisters, the meeting The picture â€Å"Two sisters, the meeting†, created in 1902 depicts two unhappy women standing together. The painter was inspired for this work by his visit to the Paris prison of St. Lazare. The interesting detail about that prison was that it was guarded by nuns. Therefore, the women on the picture are probably nuns or a nun and a prisoner (Gilot, 328). The both characters are still. This work shows Pablo Picasso’s cubist preferences. The work is very contrastive, the semi-shadows are often omitted, the shapes are clean-cut. Some state that the simplified shapes, especially the way of painting the faces, points to the Christian motives (Warncke, 134) . The tones vary from light blue to dark violet. The typical distinct counters are less noticeable than in other works of the period. The curl of the arch on the left repeats the form of the sisters’ heads bend to each other, and the shadow on the right continues this pattern. The barefooted women with their heads covered remind the Discalced Carmelite Nuns. Nowadays the painting is in Russia; specifically, in the Hermitage, St. Petersburg. The old guitarist â€Å"The old guitarist†, created in 1903, is one of the â€Å"mildest† works of Pablo Picasso’s Blue Period referring to the technique. A homeless man, probably drunk, playing his guitar is shown in the picture. The simple forms are yet detailed; the muscles and tendons are clear. The typical pale blue tones are combined with a warm stain (guitar) and bright white strokes, just like in most of the described paintings. The composition is still; only the guitarist’s hands are supposed to expres s dynamics, but in fact they are also relaxed. The three horizontal lines (the man’s head, hand and legs) are connected by the vertical one (the guitar). At the moment the work is situated at the Art Institute of Chicago in USA. Life The painting â€Å"Life† is another work where Picasso originally situates many figures. The author depicts Casagemas with his lover, and a mother with a child near them. The picture also refers to the set of Casagemas’ portraits. The triple dimension includes the three front characters, one person at the background and also two people painted on a picture behind the front characters. All the figures are motionless; only the couple on the left compensates the still composition. None of the characters meet with their eyes; this also adds some dynamics to the painting. The colors change from light blue on the top to brownish green on the bottom. The bright white stains highlight the front space and serve as a frame for the background . In this picture, author uses as much contrast as it was possible. One of the most obvious is the contrast between the necked couple and a woman in the fabric. Interestingly, the painting shows the alive friend of the author, surrounded by the closest people, which shows the deep feeling of respect that Picasso had to Casagemas. At the moment the work is in USA, The Cleveland Museum of Art. Poor people on the seashore The painting â€Å"Poor people on the seashore† depicts a family of three, a mother, a father and a son. Another name for the painting is â€Å"The tragedy†. The painting refers to the period when Picasso was concentrated on the general message more than on composition. Thus, the composition is rather inconsistent: the woman is still, but the man with the boy is moving in some direction; but their route seems to include hitting the woman. The characters are painted with violet; for the background Picasso used pure light blue colors. They express the fro zen sea and the winter sky; the people with no shoes on also show that they are cold. In general, the mood of the painting is expressed very clearly. The pale stains in this painting are not only used in some elements, but also for underlying the contrast with dark tones. All in all, despite the imperfect composition, Picasso managed to express the atmosphere excellently. The painting is now at the National Gallery of Art in Washington, USA. Suzanne Bloch â€Å"Suzanne Bloch† is the last painting from Pablo Picasso’s Blue Period. This portrait does not differ much from the other portraits of Picasso: the typical composition, model’s posture, tones and style of painting. A still woman looks straight into the viewers’ eyes; the dark tones of clothing and hair are contrasted with very pale skin. Warm orange lips also prove a contrast to the general cold of the painting. The texture is rather coarse, which makes the painting look messy. The portrait also has an interesting story. It was once stolen from a museum and found a year later, undamaged and safe (Leal, 287). All in all, the Blue Period in the artistic work of Pablo Picasso is one of the most prolific ones. The feeling of resignation was one of the strongest stimuli for the artist to create his works. The Blue Period is marked by expressive melancholic paintings and a palette of cold blue colors. Because of the mournful mood, author depicts unhappy people. None of the characters painted during the Blue Period is smiling; they all embody either poor, sad or stereotypically bad characters. In addition, the style of Picasso’s paintings becomes very recognizable; it still contains the aristocratic tones and mild transitions but at the same time has the roots of cubism. The main features of the Blue Period’s portraits are stillness, heavy dark colors, and thick black contours. Nowadays the works are kept in greatest galleries of the world and admitted to be ones of the world best works. Barnet, S. A short guide to write about art 9th edition. London: Longman, 2002. Print. Cowling, E. Picasso: Style and Meaning. Phaidon Press, 2002. Print. Franck, D. 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