Video games Essay Example | Topics and Well Written Essays - 500 words

Australian Business Law Principles of Contract Law

Question: Talk about theAustralian Business Lawfor Principles of Contract Law. Answer: Issue The issue in the current case is to decide if there is an agreement shaped on the record of one-sided offer reached out by offeror Alan or not. Further, the following point is to decide the legally binding liabilities of Alan for the given circumstances. Law For the sanctioning of an agreement, a legitimate offer and acknowledgment is required. At the point when the offeror has stretched out a proposal to various offerees, at that point it would be named as one-sided offer. For this situation, it isn't basic for the institution of the agreement that the offeree conveys acknowledgment to the offeror by any method of correspondence. Any individual or people who play out the action or undertaking referenced in the proposal at the latest the predefined time imparts acknowledgment renting to the development of an enforceable agreement between the gatherings (Paterson, 2015). The OBrien v MGN Ltd [2001] EWCA Civ 1279 case is the observer of this angle. Further, on the off chance that the offeror needs to end the offer, at that point it is fundamental that it must be done before the offeree or offerees have conveyed acknowledgment by satisfying the vital condition. It implies on the off chance that the offerees have acknowledged the offer, at that point disavowal of offer can't occur. Since, the proposal for the offeror is restrictive guarantee and offerees has lawful acknowledgment which bring about the enforceability of authoritative connection (Andrews, 2011). In this respects, Carlill v Carbolic Smoke Ball Co [1892] EWCA Civ 1 case is of specific importance. For this situation, the respondent made a commercial to open which was a one-sided offer and acknowledged by a few offerees. Be that as it may, the offeror chose to deny the offer made in the commercial after the offeree had played out the action featured in the promotion (Richard, 2003) . As per the choice put forth in this defense, offeror will undoubtedly play out the aut horitative obligations in light of the fact that an enforceable agreement was at that point authorized (Carter, 2012). Further, it is critical that when the offeror party has made one-sided offer by choosing a specific method of correspondence, for example, paper commercial, banner or others then it is fundamental that the offeror must choose a similar mode for renouncing the offer or, in all likelihood it would not be viewed as a substantial renouncement. It is basic that thought must be available between the offeror and offeree then just the agreement would be named as enforceable (McKedrick, 2003). Moreover, the ampleness of thought sum isn't significant as featured in the decision of Chapple v Nestle [1960] AC 87 case. Application Alan the offeror runs a marvel salon named Tender Treats. He has made a one-sided offer by promoting in the nearby paper that Tender Treats would offer the nail trim/pedicure at a limited cost of $15. At the point when the notice was distributed in the paper, at that point numerous offerees acknowledged the offer and so as to pick up the offer they showed up to Tender Treats. Be that as it may, in the wake of seeing bunches of individuals, Alan chose to repudiate the offer. In this situation, following cases are required to be examined. 40 clients who fundamentally created the commercial before the notification and goes up in the window of Tender Treats are legitimately gone into the enforceable agreement with Alan. Since, there is a legitimate offer made in the interest of Alan by posting the promotion in the neighborhood news-paper and when the offerees have played out the activity of showing up the salon then the acknowledgment towards the offer has gotten enforceable on Alan. Consequently, Alan is at risk to finish the authoritative liabilities and on the off chance that Alan denies satisfying the liabilities, at that point the clients have the legitimate rights to sue Alan for penetrating the agreement or guarantee for the harms. Further, the demonstration of Alan of posting a sign on the window of Tender Treats with respect to the disavowal of offer doesn't influence the agreement in light of the fact that according to custom-based law, when the offeree has acknowledged the offer, at that point the offeror can 't end the offer. No, 20 clients who don't have notice would not have the option to benefit the proposal as it was a crucial condition to be satisfied as a major aspect of the offer that they needed to convey the promotion. In this manner, without the commercial, the acknowledgment of the client isn't regarded to happen and henceforth the Alan doesn't have an enforceable agreement with the 20 clients not conveying ad. No, it can't be requested for the benefit of the Alan in light of the fact that at the hour of broadening one-sided offer, Alan chose a thought measure of $15 for nail trim/pedicure regardless of the way that the typical charge of nail trim/pedicure was $60. Alan has made proposal with expectation of advancement of salon and not to gain benefit which he knew about at the hour of putting the notice. It is on the grounds that sufficiency of thought sum isn't objective and it very well may be seen in the main Chapple v Nestle [1960] AC 87 situation where a chocolate wrapper was viewed as a legitimate thought. No, it isn't right since he made the offer and same has been acknowledged by the offerees and on the off chance that he needs to renounce the offer, at that point he should utilize a similar vehicle of conveying to the offerees for example he should put a paper commercial with respect to the disavowal of limited time special. For this situation likewise, a one-sided offer is stretched out in the interest of Alan through creation a commercial in the paper and it involves the way that any individual who gets the nail trim/pedicure from Tender Treats would without a doubt get a date inside seven days. In the event that it would not occur, at that point Salon would do a free hair style for that individual. Subsequent to seeing the commercial Jill gets the nail treatment/pedicure from Alan and doesn't get a date in multi week. It is evident the gatherings have gone into an agreement on the record of legitimate one-sided offer and substantial acknowledgment and along these lines, Alan needs to do free hair style to Jill or, in all likelihood she can guarantee for harms. End It is evident from the above conversation that Alan is obligated to finish the legally binding liabilities in all cases aside from when clients are not having the notice or, in all likelihood the honest gatherings can sue him or case for the harms under the arrangement of precedent-based law for penetrating agreement. Reference Paterson, J. Robertson, A. also, Duke, A. (2015) Principles of Contract Law. fifth edn. Sydney: Thomson Reuters. Andrews, N. (2011) Contract Law. third edn. Cambridge: Cambridge University Press. Carter, J. (2012) Contract Act in Australia. third edn. Sydney: LexisNexis Publications. McKendrick, E. (2003) Contract Law. fifth edn. Basingstoke: Palgrave. Richard, S. (2003) The Modern Law of Contract. 5thedn. London: Cavendish.

Body Image and Eating Disorders

Body Image and Eating Disorders December 03, 2019 Dave Les Jacobs/Blend Images/Getty Images More in Eating Disorders Symptoms Treatment Diagnosis Awareness and Prevention Body image distress is often seen as a symptom of an eating disorder.  However, not every person with an eating disorder has a problematic body image and many people who do not have eating disorders have poor body image. So how can we understand the relationship between body image and eating disorders? What Is Body Image? Body image is the subjective image people have of their own body, which is distinct from how their body actually appears. Body image is a complex construct and is made up of beliefs, thoughts, perceptions, feelings, and behaviors. The way we see ourselves and our bodies has an impact on our health, on our mental health, and on our relationships. A healthy body image involves having an objective perception of one’s appearance and an ability to separate one’s value as a person from the way one looks. Negative Body Image Negative body image is often characterized by dissatisfaction with appearance and engaging in behaviors such as dieting, checking, and/or avoidance, in an attempt to ameliorate the dissatisfaction. Negative body image often emerges during childhood. Studies show that approximately 50 percent  of preadolescent girls and 30 percent of preadolescent boys dislike their body and that 60 percent of adult women and 40 percent of adult men have a negative body image. The term “normative discontent” was first used by Rodin and colleagues in 1984 to describe dissatisfaction with body size and shape. It was found to be so widespread among women that it was determined to be “normative” or normal. A recent large scale study of 18- to 79-year-old Icelanders showed that nearly 43 percent  were dissatisfied with their body weight and over 71 percent thought they needed to lose weight. Even though average BMI was higher among males, more females than males were dissatisfied with their body weight in every age group. Body Image Issues in Eating Disorders Eating disorders are complex mental illnesses caused by genetic as well as environmental factors â€" negative body image is just one potential contributor. However, negative body image is prominent in eating disorders because many people with eating disorders place a high value on their body shape and weight when determining their own self-worth. How the Media Effects Body Image This “over-evaluation of shape and weight” is a symptom of some, but not all, eating disorders. One’s self-evaluation being disproportionately influenced by body shape and weight is consistent with a diagnosis of either anorexia nervosa or bulimia nervosa.  A diagnosis of anorexia nervosa is additionally consistent with a disturbance in the way one’s body weight or shape is experienced or an inability to recognize the seriousness of the current low body weight. Over-evaluation of shape and weight is not a required feature of binge eating disorder (BED), the most common eating disorder. Research indicates that only about 60 percent  of BED patients met the criteria for over-evaluation of shape and weight. However, it appears that patients with BED who experience a preoccupation with shape and weight may have a more severe form of BED. Patients with the eating disorder avoidant restrictive food intake disorder (ARFID) do not typically experience any preoccupation with shape and weight at all. Negative Body Image and Other Disorders Body dissatisfaction may lead to dieting and disordered eating, which can be gateway behaviors to an eating disorder. Body dissatisfaction is not only a risk factor for or symptom of an eating disorder, but it can also be a risk factor for depression, anxiety, and low self-esteem. Thus, it is a common target for prevention efforts. Body Dysmorphic Disorder Body dysmorphic disorder (BDD) is another psychiatric disorder, classified as a type of obsessive-compulsive and related disorders. People who have BDD are preoccupied with one or more nonexistent or slight defects or flaws in their physical appearance, which can include body shape. Body Dysmorphic Disorder In order to be diagnosed with BDD a person must engage in repetitive behaviors (such as checking or reassurance-seeking) related to the preoccupation and it must cause impairment in functioning. However, if the individual’s body image concerns only occur within the context of an eating disorder, only the eating disorder is diagnosed. It is not uncommon for patients to have both an eating disorder and BDD (the latter focusing on concerns other than weight or body fat). Body weight and size dissatisfaction have long been recognized as an issue among females, but it has in recent years been identified as an increasing problem among males.  One type of body dysmorphic disorder, muscle dysmorphia, affects primarily males who desire to be more muscular. Because many patients with muscle dysmorphia engage in exercise and changes in eating designed to influence body weight and shape, several researchers believe that muscle dysmorphia is actually a version of anorexia nervosa more closely aligned with traditional male gender norms. Treatment for Negative Body Image Research shows that body image is often one of the last symptoms of an eating disorder to improve during treatment. Even accounting for different treatments and symptoms between patients, the stages of recovery from an eating disorder follow a fairly similar pattern. Almost universally, weight recovery and behavioral changes appear to precede psychological recovery. And some degree of body image distress and preoccupation may persist after recovery of an eating disorder since it is not normal for people in our society to be entirely free of body image concerns. A variety of interventions have been designed to target a negative body image. These interventions fall into several broad categories includingcognitive-behavioral therapy fitness training media literacy self-esteem enhancementpsychoeducationgratitude In many cases, treatments incorporate more than one category of intervention. For example, cognitive-behavioral treatments and media literacy programs often include psychoeducation. Cognitive-Behavioral Interventions Cognitive-behavioral interventions are those most frequently utilized to address body image. These interventions help individuals modify dysfunctional thoughts, feelings, and behaviors that contribute to negative body image. The techniques used  include self-monitoring, cognitive restructuring, body size estimation training, exposure to triggers, and mirror exposure. One of the best known cognitive-behavioral programs to address body image is the Body Image Workbook by Thomas Cash. Fitness Training Fitness training interventions include exercise geared at improving physical capabilities such as muscle strength. Objective improvements in physical fitness are not as important as perceived improvements. Fitness training can also improve body image by encouraging individuals to focus more on the functionality of their body and less on their appearance. Media Literacy Interventions Media literacy interventions teach individuals to critically evaluate and challenge the media images and messages that can contribute to negative body image. For example, images of very thin models and messages such as “Thin is beautiful” can be challenged. Techniques used in media literacy interventions include education and advocacy training. Self-Esteem Interventions Self-esteem strategies used in the treatment of negative body image focus on identifying and appreciating individual differences both in regards to body image and internal qualities and talents. Strategies also focus on building healthy coping skills. Psychoeducation Psychoeducational strategies teach individuals about issues related to negative body image including its causes and consequences. Psychoeducational strategies are often used in combination with one of the other types of interventions. Gratitude-Based Interventions A newer line of body image interventions includes gratitude-based strategies such as gratitude journals, lists, reflections, and meditations. Such interventions seek to increase appreciation for non-appearance based aspects of oneself. Strategies to Try at Home Here are some self-help strategies based on some of the interventions above that you can do on your own to improve body image: Keep a body gratitude journal. A daily routine that includes self-deprecating comments about your body is likely making you feel worse. In order to come to a more balanced perspective, it is important to start to shift your attention and appreciate good things about your body. One way to achieve this is to keep a body gratitude journal. Try to write something daily that is positive about your body. You can include things like, “I had a good hair day,” “My legs allowed me to hike up the canyon,” or “My arms allowed me to hug my child.” At first, It may be hard, but it will get easier with practice. Gratitude Journal Clean your social media feed. We are all barraged on a daily basis with images and messages emphasizing thinness and/or the attainment of an ideal physique. To counteract these messages, it is important to find messages that support body acceptance and the inclusion of a range of bodies. Instead, read body-positive blogs and follow body-positive role models. Some excellent posts are Body Image Booster:  A Powerful Reminder by Margarita Tartakovsky and What the Dying Regret by Kerry Egan. You may want to create a body positive Pinterest board. It’s also a good idea to stop following social media sites that promote the thin or fit ideal.Buy clothes that fit now. Many people resist buying clothes that fit and either wear shapeless clothes or dangle themselves the reward of shopping or fitting into old clothes “when they lose the weight.” This misguided exercise increases misery in the present and does nothing to increase motivation. Instead, buy at least a few basic items that fit now and that makes you feel good. Most people find that this leads them to feel more confident and reduces anxiety and self-disparagement when getting dressed.Challenge avoidance and stop body checking. Avoidance and body checking have been implicated in the persistence of eating disorders. Avoidance can involve the complete covering up, refusing to wear appropriate clothes for the situation (wearing a hoody in the summer, refusing to wear shorts or a sleeveless top on a summer day, refusal to swim because of anxiety over wearing a swimsuit) or complete avoidance of doctors who might weigh them. Body checking is the repeated checking of one’s shape and weight and takes a variety of forms from repeated weighing, measuring (with a tape measure or by touch), or obsessive checking in the mirror. Avoidance and body checking only perpetuate anxiety. The goal should be moderation. Those who avoid should practice exposure, and those who obsessively check should stop. If checking is an is sue, try keeping track of the number of times you check and then try to gradually cut that back. Exposure can also be gradual. For example, one can first wear  sleeveless shirts around the apartment for increasing lengths of time before eventually venturing outside wearing them. How to Reduce Body Checking Act out against the thin ideal. Some of the most effective eating disorder prevention programs, such as The Body Project, are based on the principle of cognitive dissonance. Cognitive dissonance is the idea that when attitudes and behaviors are in conflict, a person experiences discomfort and tries to align attitudes with behaviors. Individuals are encouraged to engage in activities that actively resist cultural pressures toward the thin ideal.  Such activities include writing a peer or young girl a letter that encourages her to embrace a more diverse range of beauty or writing a company that has engaged in fat-shaming or thin-centric behaviors a letter that explains why that bothers you.Change negative body language.  Engaging in typical “fat talk” â€" negative and judgmental comments or conversations that are focused on weight and appearance â€" is detrimental to body image. Avoiding such judgments (e.g., “I’m so fat!”) can improve body image. Consider taking a pledge to not engage in fat talk. Find Relief With the 9 Best Online Therapy Programs A Word From Verywell There are numerous movements suggesting people should aim to love their bodies. This may not be possible. A more reasonable goal for some might be to work toward appreciating and accepting their bodies. Body image is not likely to improve without effort, and the activities above need to be performed over time. Improving body image is an appropriate goal for therapy, whether or not an individual is experiencing disordered eating. If employing these strategies independently is not helping over time and body image is having a negative effect on overall well-being or daily functioning, don’t hesitate to seek help from a professional. How to Manage the Negative Thoughts That Accompany Disordered Eating

Controversy Over Legislations Passed in the wake of the...

The government of the United States takes the security of its Citizens very serious and this explains why security of USA Citizens home and abroad is their first line of duty. In the wake of 9/11 terrorism attack, the citizens were left questioning whether indeed the government was doing enough to protect them. On the same note, the Bush administration was shaken to the core that terrorist could advance that much into their soil. This formed the basis of various legislations and formation of special units with special powers to fight terrorism in and out of USA. However, some of these laws have brewed controversy among the Citizens it is supposed to protect. Some civil rights groups and liberal lawmakers are questioning the ability of these laws to be applied without hurting the Americans it is supposed to protect. The Patriot Act is such laws, which is causing discomfort among the liberal citizens and lawmakers and civil rights groups. They content that some of the provisions of the surveillance laws are open to abuse by intelligence bodies. It is against this background that they have put up fight against extension of some clauses, which are supposed to expire. They claim that these provisions have already been abused by federal bureau of investigations to confiscate personal information such as bank statements and credit card information. The provisions of patriot Act grant law enforcement and intelligence bodies powers in the following ways (Doyle Library ofShow MoreRelatedThe Patriot Act Is A Sweeping Piece Of Legislation1840 Words   |  8 PagesAbstract The Patriot Act is a sweeping piece of legislation. Created in the wake of 9/11; it remains controversial. Opinions on the necessity of the Act are intense and vary widely. A better understanding of its applicability, strengths, and weaknesses will aid future opinion and legislation. The Patriot Act affects all citizens, immigrants, and especially minority groups. 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Case Study Netflex Essay - 633 Words

Chapter Case Study Explain Netflix’s marketing strategy? Can it sustain its competitive advantage? Why or why not? Netflix strategy has no brick and mortar stores, big stores with a variety between 300 to 4000 movies in stock. Netflix relies on the internet for customers’ orders and mail system for the delivery. The company does not have late fees, fluctuating monthly fees, predetermined rental periods, instead has a flat fee. Netflix, let customers view unlimited streaming of movies and TV shows for a monthly fee and has also developed platforms to deliver its titles to Nintendo Wii, Xbox 360, PlayStation 3, and TiVo. Netflix also supports decks from Panasonic, Insignia, and Seagate, and a number of Android and apple mobile devices†¦show more content†¦Lack of updating movie content. Reliance on studio agreement to secure content (movies). Opportunities Growing demand for online video streaming. Strategic partnerships with third-party businesses (Nintendo, Microsoft) Growing demand for game rentals Growth in portable media play Total integration of Netflix platform across mobile devices Threats Must absorb shipping costs which negatively affects operating margins Technology is ever changing and Netflix must consistently improve method of delivery Other companies offer video-game rental Piracy Video on Demand (VOD) Suppliers shifting to competition-Must absorb shipping costs which negatively affects operating margins Technology is ever changing and Netflix must consistently improve method of delivery. Other companies offer video-game rental Piracy Video on Demand (VOD) Suppliers shifting to competition Netflix should pressure opportunities like the online stream with customers, reassuring to customers more efficient and faster connections, unveil a plan with movie producers to reduce the 28 day window to release movies. Although, target those customers who might pay higher monthly fees and end up with the fewer films. What is the best way for Netflix to grow its business? Justify your answer. Netflix should expand internationally to increase their clientele. It only has 3.6 million international subscribers, generating revenue of $108 million through theShow MoreRelatedManaging Information Technology (7th Edition)239873 Words   |  960 PagesCONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5 Data

A Game of Thrones Chapter Twenty-six Free Essays

Jon Jon was showing Dareon how best to deliver a sidestroke when the new recruit entered the practice yard. â€Å"Your feet should be farther apart,† he urged. â€Å"You don’t want to lose your balance. We will write a custom essay sample on A Game of Thrones Chapter Twenty-six or any similar topic only for you Order Now That’s good. Now pivot as you deliver the stroke, get all your weight behind the blade.† Dareon broke off and lifted his visor. â€Å"Seven gods,† he murmured. â€Å"Would you look at this, Jon.† Jon turned. Through the eye slit of his helm, he beheld the fattest boy he had ever seen standing in the door of the armory. By the look of him, he must have weighed twenty stone. The fur collar of his embroidered surcoat was lost beneath his chins. Pale eyes moved nervously in a great round moon of a face, and plump sweaty fingers wiped themselves on the velvet of his doublet. â€Å"They . . . they told me I was to come here for . . . for training,† he said to no one in particular. â€Å"A lordling,† Pyp observed to Jon. â€Å"Southron, most like near Highgarden.† Pyp had traveled the Seven Kingdoms with a mummers’ troupe, and bragged that he could tell what you were and where you’d been born just from the sound of your voice. A striding huntsman had been worked in scarlet thread upon the breast of the fat boy’s fur-trimmed surcoat. Jon did not recognize the sigil. Ser Alliser Thorne looked over his new charge and said, â€Å"It would seem they have run short of poachers and thieves down south. Now they send us pigs to man the Wall. Is fur and velvet your notion of armor, my Lord of Ham?† It was soon revealed that the new recruit had brought his own armor with him; padded doublet, boiled leather, mail and plate and helm, even a great wood-and-leather shield blazoned with the same striding huntsman he wore on his surcoat. As none of it was black, however, Ser Alliser insisted that he reequip himself from the armory. That took half the morning. His girth required Donal Noye to take apart a mail hauberk and refit it with leather panels at the sides. To get a helm over his head the armorer had to detach the visor. His leathers bound so tightly around his legs and under his arms that he could scarcely move. Dressed for battle, the new boy looked like an overcooked sausage about to burst its skin. â€Å"Let us hope you are not as inept as you look,† Ser Alliser said. â€Å"Halder, see what Ser Piggy can do.† Jon Snow winced. Halder had been born in a quarry and apprenticed as a stonemason. He was sixteen, tall and muscular, and his blows were as hard as any Jon had ever felt. â€Å"This will be uglier than a whore’s ass,† Pyp muttered, and it was. The fight lasted less than a minute before the fat boy was on the ground, his whole body shaking as blood leaked through his shattered helm and between his pudgy fingers. â€Å"I yield,† he shrilled. â€Å"No more, I yield, don’t hit me.† Rast and some of the other boys were laughing. Even then, Ser Alliser would not call an end. â€Å"On your feet, Ser Piggy,† he called. â€Å"Pick up your sword.† When the boy continued to cling to the ground, Thorne gestured to Halder. â€Å"Hit him with the flat of your blade until he finds his feet.† Halder delivered a tentative smack to his foe’s upraised cheeks. â€Å"You can hit harder than that,† Thorne taunted. Halder took hold of his longsword with both hands and brought it down so hard the blow split leather, even on the flat. The new boy screeched in pain. Jon Snow took a step forward. Pyp laid a mailed hand on his arm. â€Å"Jon, no,† the small boy whispered with an anxious glance at Ser Alliser Thorne. â€Å"On your feet,† Thorne repeated. The fat boy struggled to rise, slipped, and fell heavily again. â€Å"Ser Piggy is starting to grasp the notion,† Ser Alliser observed. â€Å"Again.† Halder lifted the sword for another blow. â€Å"Cut us off a ham!† Rast urged, laughing. Jon shook off Pyp’s hand. â€Å"Halder, enough.† Halder looked to Ser Alliser. â€Å"The Bastard speaks and the peasants tremble,† the master-at-arms said in that sharp, cold voice of his. â€Å"I remind you that I am the master-at-arms here, Lord Snow.† â€Å"Look at him, Halder,† Jon urged, ignoring Thorne as best he could. â€Å"There’s no honor in beating a fallen foe. He yielded.† He knelt beside the fat boy. Halder lowered his sword. â€Å"He yielded,† he echoed. Ser Alliser’s onyx eyes were fixed on Jon Snow. â€Å"It would seem our Bastard is in love,† he said as Jon helped the fat boy to his feet. â€Å"Show me your steel, Lord Snow.† Jon drew his longsword. He dared defy Ser Alliser only to a point, and he feared he was well beyond it now. Thorne smiled. â€Å"The Bastard wishes to defend his lady love, so we shall make an exercise of it. Rat, Pimple, help our Stone Head here.† Rast and Albett moved to join Halder. â€Å"Three of you ought to be sufficient to make Lady Piggy squeal. All you need do is get past the Bastard.† â€Å"Stay behind me,† Jon said to the fat boy. Ser Alliser had often sent two foes against him, but never three. He knew he would likely go to sleep bruised and bloody tonight. He braced himself for the assault. Suddenly Pyp was beside him. â€Å"Three to two will make for better sport,† the small boy said cheerfully. He dropped his visor and slid out his sword. Before Jon could even think to protest, Grenn had stepped up to make a third. The yard had grown deathly quiet. Jon could feel Ser Alliser’s eyes. â€Å"Why are you waiting?† he asked Rast and the others in a voice gone deceptively soft, but it was Jon who moved first. Halder barely got his sword up in time. Jon drove him backward, attacking with every blow, keeping the older boy on the heels. Know your foe, Ser Rodrik had taught him once; Jon knew Halder, brutally strong but short of patience, with no taste for defense. Frustrate him, and he would leave himself open, as certain as sunset. The clang of steel echoed through the yard as the others joined battle around him. Jon blocked a savage cut at his head, the shock of impact running up his arm as the swords crashed together. He slammed a sidestroke into Halder’s ribs, and was rewarded with a muffled grunt of pain. The counterstroke caught Jon on the shoulder. Chainmail crunched, and pain flared up his neck, but for an instant Halder was unbalanced. Jon cut his left leg from under him, and he fell with a curse and a crash. Grenn was standing his ground as Jon had taught him, giving Albett more than he cared for, but Pyp was hard-pressed. Rast had two years and forty pounds on him. Jon stepped up behind him and rang the raper’s helm like a bell. As Rast went reeling, Pyp slid in under his guard, knocked him down, and leveled a blade at his throat. By then Jon had moved on. Facing two swords, Albett backed away. â€Å"I yield,† he shouted. Ser Alliser Thorne surveyed the scene with disgust. â€Å"The mummer’s farce has gone on long enough for today.† He walked away. The session was at an end. Dareon helped Halder to his feet. The quarryman’s son wrenched off his helm and threw it across the yard. â€Å"For an instant, I thought I finally had you, Snow.† â€Å"For an instant, you did,† Jon replied. Under his mail and leather, his shoulder was throbbing. He sheathed his sword and tried to remove his helm, but when he raised his arm, the pain made him grit his teeth. â€Å"Let me,† a voice said. Thick-fingered hands unfastened helm from gorget and lifted it off gently. â€Å"Did he hurt you?† â€Å"I’ve been bruised before.† He touched his shoulder and winced. The yard was emptying around them. Blood matted the fat boy’s hair where Halder had split his helm asunder. â€Å"My name is Samwell Tarly, of Horn . . . † He stopped and licked his lips. â€Å"I mean, I was of Horn Hill, until I . . . left. I’ve come to take the black. My father is Lord Randyll, a bannerman to the Tyrells of Highgarden. I used to be his heir, only . . . † His voice trailed off. â€Å"I’m Jon Snow, Ned Stark’s bastard, of Winterfell.† Samwell Tarly nodded. â€Å"I . . . if you want, you can call me Sam. My mother calls me Sam.† â€Å"You can call him Lord Snow,† Pyp said as he came up to join them. â€Å"You don’t want to know what his mother calls him.† â€Å"These two are Grenn and Pypar,† Jon said. â€Å"Grenn’s the ugly one,† Pyp said. Grenn scowled. â€Å"You’re uglier than me. At least I don’t have ears like a bat.† â€Å"My thanks to all of you,† the fat boy said gravely. â€Å"Why didn’t you get up and fight?† Grenn demanded. â€Å"I wanted to, truly. I just . . . I couldn’t. I didn’t want him to hit me anymore.† He looked at the ground. â€Å"I . . . I fear I’m a coward. My lord father always said so.† Grenn looked thunderstruck. Even Pyp had no words to say to that, and Pyp had words for everything. What sort of man would proclaim himself a coward? Samwell Tarly must have read their thoughts on their faces. His eyes met Jon’s and darted away, quick as frightened animals. â€Å"I . . . I’m sorry,† he said. â€Å"I don’t mean to . . . to be like I am.† He walked heavily toward the armory. Jon called after him. â€Å"You were hurt,† he said. â€Å"Tomorrow you’ll do better.† Sam looked mournfully back over one shoulder. â€Å"No I won’t,† he said, blinking back tears. â€Å"I never do better.† When he was gone, Grenn frowned. â€Å"Nobody likes cravens,† he said uncomfortably. â€Å"I wish we hadn’t helped him. What if they think we’re craven too?† â€Å"You’re too stupid to be craven,† Pyp told him. â€Å"I am not,† Grenn said. â€Å"Yes you are. If a bear attacked you in the woods, you’d be too stupid to run away.† â€Å"I would not,† Grenn insisted. â€Å"I’d run away faster than you.† He stopped suddenly, scowling when he saw Pyp’s grin and realized what he’d just said. His thick neck flushed a dark red. Jon left them there arguing as he returned to the armory, hung up his sword, and stripped off his battered armor. Life at Castle Black followed certain patterns; the mornings were for swordplay, the afternoons for work. The black brothers set new recruits to many different tasks, to learn where their skills lay. Jon cherished the rare afternoons when he was sent out with Ghost ranging at his side to bring back game for the Lord Commander’s table, but for every day spent hunting, he gave a dozen to Donal Noye in the armory, spinning the whetstone while the one-armed smith sharpened axes grown dull from use, or pumping the bellows as Noye hammered out a new sword. Other times he ran messages, stood at guard, mucked out stables, fletched arrows, assisted Maester Aemon with his birds or Bowen Marsh with his counts and inventories. That afternoon, the watch commander sent him to the winch cage with four barrels of fresh-crushed stone, to scatter gravel over the icy footpaths atop the Wall. It was lonely and boring work, even with Ghost along for company, but Jon found he did not mind. On a clear day you could see half the world from the top of the Wall, and the air was always cold and bracing. He could think here, and he found himself thinking of Samwell Tarly . . . and, oddly, of Tyrion Lannister. He wondered what Tyrion would have made of the fat boy. Most men would rather deny a hard truth than face it, the dwarf had told him, grinning. The world was full of cravens who pretended to be heroes; it took a queer sort of courage to admit to cowardice as Samwell Tarly had. His sore shoulder made the work go slowly. It was late afternoon before Jon finished graveling the paths. He lingered on high to watch the sun go down, turning the western sky the color of blood. Finally, as dusk was settling over the north, Jon rolled the empty barrels back into the cage and signaled the winch men to lower him. The evening meal was almost done by the time he and Ghost reached the common hall. A group of the black brothers were dicing over mulled wine near the fire. His friends were at the bench nearest the west wall, laughing. Pyp was in the middle of a story. The mummer’s boy with the big ears was a born liar with a hundred different voices, and he did not tell his tales so much as live them, playing all the parts as needed, a king one moment and a swineherd the next. When he turned into an alehouse girl or a virgin princess, he used a high falsetto voice that reduced them all to tears of helpless laughter, and his eunuchs were always eerily accurate caricatures of Ser Alliser. Jon took as much pleasure from Pyp’s antics as anyone . . . yet that night he turned away and went instead to the end of the bench, where Samwell Tarly sat alone, as far from the others as he could get. He was finishing the last of the pork pie the cooks had served up for supper when Jon sat down across from him. The fat boy’s eyes widened at the sight of Ghost. â€Å"Is that a wolf?† â€Å"A direwolf,† Jon said. â€Å"His name is Ghost. The direwolf is the sigil of my father’s House.† â€Å"Ours is a striding huntsman,† Samwell Tarly said. â€Å"Do you like to hunt?† The fat boy shuddered. â€Å"I hate it.† He looked as though he was going to cry again. â€Å"What’s wrong now?† Jon asked him. â€Å"Why are you always so frightened?† Sam stared at the last of his pork pie and gave a feeble shake of his head, too scared even to talk. A burst of laughter filled the hall. Jon heard Pyp squeaking in a high voice. He stood. â€Å"Let’s go outside.† The round fat face looked up at him, suspicious. â€Å"Why? What will we do outside?† â€Å"Talk,† Jon said. â€Å"Have you seen the Wall?† â€Å"I’m fat, not blind,† Samwell Tarly said. â€Å"Of course I saw it, it’s seven hundred feet high.† Yet he stood up all the same, wrapped a fur-lined cloak over his shoulders, and followed Jon from the common hall, still wary, as if he suspected some cruel trick was waiting for him in the night. Ghost padded along beside them. â€Å"I never thought it would be like this,† Sam said as they walked, his words steaming in the cold air. Already he was huffing and puffing as he tried to keep up. â€Å"All the buildings are falling down, and it’s so . . . so . . . â€Å" â€Å"Cold?† A hard frost was settling over the castle, and Jon could hear the soft crunch of grey weeds beneath his boots. Sam nodded miserably. â€Å"I hate the cold,† he said. â€Å"Last night I woke up in the dark and the fire had gone out and I was certain I was going to freeze to death by morning.† â€Å"It must have been warmer where you come from.† â€Å"I never saw snow until last month. We were crossing the barrowlands, me and the men my father sent to see me north, and this white stuff began to fall, like a soft rain. At first I thought it was so beautiful, like feathers drifting from the sky, but it kept on and on, until I was frozen to the bone. The men had crusts of snow in their beards and more on their shoulders, and still it kept coming. I was afraid it would never end.† Jon smiled. The Wall loomed before them, glimmering palely in the light of the half moon. In the sky above, the stars burned clear and sharp. â€Å"Are they going to make me go up there?† Sam asked. His face curdled like old milk as he looked at the great wooden stairs. â€Å"I’ll die if I have to climb that.† â€Å"There’s a winch,† Jon said, pointing. â€Å"They can draw you up in a cage.† Samwell Tarly sniffled. â€Å"I don’t like high places.† It was too much. Jon frowned, incredulous. â€Å"Are you afraid of everything?† he asked. â€Å"I don’t understand. If you are truly so craven, why are you here? Why would a coward want to join the Night’s Watch?† Samwell Tarly looked at him for a long moment, and his round face seemed to cave in on itself. He sat down on the frost-covered ground and began to cry, huge choking sobs that made his whole body shake. Jon Snow could only stand and watch. Like the snowfall on the barrowlands, it seemed the tears would never end. It was Ghost who knew what to do. Silent as shadow, the pale direwolf moved closer and began to lick the warm tears off Samwell Tarly’s face. The fat boy cried out, startled . . . and somehow, in a heartbeat, his sobs turned to laughter. Jon Snow laughed with him. Afterward they sat on the frozen ground, huddled in their cloaks with Ghost between them. Jon told the story of how he and Robb had found the pups newborn in the late summer snows. It seemed a thousand years ago now. Before long he found himself talking of Winterfell. â€Å"Sometimes I dream about it,† he said. â€Å"I’m walking down this long empty hall. My voice echoes all around, but no one answers, so I walk faster, opening doors, shouting names. I don’t even know who I’m looking for. Most nights it’s my father, but sometimes it’s Robb instead, or my little sister Arya, or my uncle.† The thought of Benjen Stark saddened him; his uncle was still missing. The Old Bear had sent out rangers in search of him. Ser Jaremy Rykker had led two sweeps, and Quorin Halfhand had gone forth from the Shadow Tower, but they’d found nothing aside from a few blazes in the trees that his uncle had left to mark his way. In the stony highlands to the northwest, the marks stopped abruptly and all trace of Ben Stark vanished. â€Å"Do you ever find anyone in your dream?† Sam asked. Jon shook his head. â€Å"No one. The castle is always empty.† He had never told anyone of the dream, and he did not understand why he was telling Sam now, yet somehow it felt good to talk of it. â€Å"Even the ravens are gone from the rookery, and the stables are full of bones. That always scares me. I start to run then, throwing open doors, climbing the tower three steps at a time, screaming for someone, for anyone. And then I find myself in front of the door to the crypts. It’s black inside, and I can see the steps spiraling down. Somehow I know I have to go down there, but I don’t want to. I’m afraid of what might be waiting for me. The old Kings of Winter are down there, sitting on their thrones with stone wolves at their feet and iron swords across their laps, but it’s not them I’m afraid of. I scream that I’m not a Stark, that this isn’t my place, but it’s no good, I have to go anyway, so I start down, feeling the walls as I descend, with no torch to light the way. It gets darker and darker, until I want to scream.† He stopped, frowning, embarrassed. â€Å"That’s when I always wake.† His skin cold and clammy, shivering in the darkness of his cell. Ghost would leap up beside him, his warmth as comforting as daybreak. He would go back to sleep with his face pressed into the direwolf s shaggy white fur. â€Å"Do you dream of Horn Hill?† Jon asked. â€Å"No.† Sam’s mouth grew tight and hard. â€Å"I hated it there.† He scratched Ghost behind the ear, brooding, and Jon let the silence breathe. After a long while Samwell Tarly began to talk, and Jon Snow listened quietly, and learned how it was that a self-confessed coward found himself on the Wall. The Tarlys were a family old in honor, bannermen to Mace Tyrell, Lord of Highgarden and Warden of the South. The eldest son of Lord Randyll Tarly, Samwell was born heir to rich lands, a strong keep, and a storied two-handed greatsword named Heartsbane, forged of Valyrian steel and passed down from father to son near five hundred years. Whatever pride his lord father might have felt at Samwell’s birth vanished as the boy grew up plump, soft, and awkward. Sam loved to listen to music and make his own songs, to wear soft velvets, to play in the castle kitchen beside the cooks, drinking in the rich smells as he snitched lemon cakes and blueberry tarts. His passions were books and kittens and dancing, clumsy as he was. But he grew ill at the sight of blood, and wept to see even a chicken slaughtered. A dozen masters-at-arms came and went at Horn Hill, trying to turn Samwell into the knight his father wanted. The boy was cursed and caned, slapped and starved. One man had him sleep in his chainmail to make him more martial. Another dressed him in his mother’s clothing and paraded him through the bailey to shame him into valor. He only grew fatter and more frightened, until Lord Randyll’s disappointment turned to anger and then to loathing. â€Å"One time,† Sam confided, his voice dropping from a whisper, â€Å"two men came to the castle, warlocks from Qarth with white skin and blue lips. They slaughtered a bull aurochs and made me bathe in the hot blood, but it didn’t make me brave as they’d promised. I got sick and retched. Father had them scourged.† Finally, after three girls in as many years, Lady Tarly gave her lord husband a second son. From that day, Lord Randyll ignored Sam, devoting all his time to the younger boy, a fierce, robust child more to his liking. Samwell had known several years of sweet peace with his music and his books. Until the dawn of his fifteenth name day, when he had been awakened to find his horse saddled and ready. Three men-at-arms had escorted him into a wood near Horn Hill, where his father was skinning a deer. â€Å"You are almost a man grown now, and my heir,† Lord Randyll Tarly had told his eldest son, his long knife laying bare the carcass as he spoke. â€Å"You have given me no cause to disown you, but neither will I allow you to inherit the land and title that should be Dickon’s. Heartsbane must go to a man strong enough to wield her, and you are not worthy to touch her hilt. So I have decided that you shall this day announce that you wish to take the black. You will forsake all claim to your brother’s inheritance and start north before evenfall. â€Å"If you do not, then on the morrow we shall have a hunt, and somewhere in these woods your horse will stumble, and you will be thrown from the saddle to die . . . or so I will tell your mother. She has a woman’s heart and finds it in her to cherish even you, and I have no wish to cause her pain. Please do not imagine that it will truly be that easy, should you think to defy me. Nothing would please me more than to hunt you down like the pig you are.† His arms were red to the elbow as he laid the skinning knife aside. â€Å"So. There is your choice. The Night’s Watch†Ã¢â‚¬â€he reached inside the deer, ripped out its heart, and held it in his fist, red and dripping—†or this.† Sam told the tale in a calm, dead voice, as if it were something that had happened to someone else, not to him. And strangely, Jon thought, he did not weep, not even once. When he was done, they sat together and listened to the wind for a time. There was no other sound in all the world. Finally Jon said, â€Å"We should go back to the common hall.† â€Å"Why?† Sam asked. Jon shrugged. â€Å"There’s hot cider to drink, or mulled wine if you prefer. Some nights Dareon sings for us, if the mood is on him. He was a singer, before . . . well, not truly, but almost, an apprentice singer.† â€Å"How did he come here?† Sam asked. â€Å"Lord Rowan of Goldengrove found him in bed with his daughter. The girl was two years older, and Dareon swears she helped him through her window, but under her father’s eye she named it rape, so here he is. When Maester Aemon heard him sing, he said his voice was honey poured over thunder.† Jon smiled. â€Å"Toad sometimes sings too, if you call it singing. Drinking songs he learned in his father’s winesink. Pyp says his voice is piss poured over a fart.† They laughed at that together. â€Å"I should like to hear them both,† Sam admitted, â€Å"but they would not want me there.† His face was troubled. â€Å"He’s going to make me fight again on the morrow, isn’t he?† â€Å"He is,† Jon was forced to say. Sam got awkwardly to his feet. â€Å"I had better try to sleep.† He huddled down in his cloak and plodded off. The others were still in the common room when Jon returned, alone but for Ghost. â€Å"Where have you been?† Pyp asked. â€Å"Talking with Sam,† he said. â€Å"He truly is craven,† said Grenn. â€Å"At supper, there were still places on the bench when he got his pie, but he was too scared to come sit with us.† â€Å"The Lord of Ham thinks he’s too good to eat with the likes of us,† suggested Jeren. â€Å"I saw him eat a pork pie,† Toad said, smirking. â€Å"Do you think it was a brother?† He began to make oinking noises. â€Å"Stop it!† Jon snapped angrily. The other boys fell silent, taken aback by his sudden fury. â€Å"Listen to me,† Jon said into the quiet, and he told them how it was going to be. Pyp backed him, as he’d known he would, but when Halder spoke up, it was a pleasant surprise. Grenn was anxious at the first, but Jon knew the words to move him. One by one the rest fell in line. Jon persuaded some, cajoled some, shamed the others, made threats where threats were required. At the end they had all agreed . . . all but Rast. â€Å"You girls do as you please,† Rast said, â€Å"but if Thorne sends me against Lady Piggy, I’m going to slice me off a rasher of bacon.† He laughed in Jon’s face and left them there. Hours later, as the castle slept, three of them paid a call on his cell. Grenn held his arms while Pyp sat on his legs. Jon could hear Rast’s rapid breathing as Ghost leapt onto his chest. The direwolf’s eyes burned red as embers as his teeth nipped lightly at the soft skin of the boy’s throat, just enough to draw blood. â€Å"Remember, we know where you sleep,† Jon said softly. The next morning Jon heard Rast tell Albett and Toad how his razor had slipped while he shaved. From that day forth, neither Rast nor any of the others would hurt Samwell Tarly. When Ser Alliser matched them against him, they would stand their ground and swat aside his slow, clumsy strokes. If the master-at-arms screamed for an attack, they would dance in and tap Sam lightly on breastplate or helm or leg. Ser Alliser raged and threatened and called them all cravens and women and worse, yet Sam remained unhurt. A few nights later, at Jon’s urging, he joined them for the evening meal, taking a place on the bench beside Halder. It was another fortnight before he found the nerve to join their talk, but in time he was laughing at Pyp’s faces and teasing Grenn with the best of them. Fat and awkward and frightened he might be, but Samwell Tarly was no fool. One night he visited Jon in his cell. â€Å"I don’t know what you did,† he said, â€Å"but I know you did it.† He looked away shyly. â€Å"I’ve never had a friend before.† â€Å"We’re not friends,† Jon said. He put a hand on Sam’s broad shoulder. â€Å"We’re brothers.† And so they were, he thought to himself after Sam had taken his leave. Robb and Bran and Rickon were his father’s sons, and he loved them still, yet Jon knew that he had never truly been one of them. Catelyn Stark had seen to that. The grey walls of Winterfell might still haunt his dreams, but Castle Black was his life now, and his brothers were Sam and Grenn and Halder and Pyp and the other cast-outs who wore the black of the Night’s Watch. â€Å"My uncle spoke truly,† he whispered to Ghost. He wondered if he would ever see Benjen Stark again, to tell him. How to cite A Game of Thrones Chapter Twenty-six, Essay examples

Macbeth Essays (1061 words) - Characters In Macbeth,

Macbeth English 11 Honors Paper on MacBeth Due Feb 22nd ?The tragedy of MacBeth? is a story of courage and honor. It gives an interesting mix of love, Machiavellianism, and has a good storyline. MacBeth is a loyal subject to his king, Duncan, but goes terribly wrong when he listens to 3 witches that tell him he will rule someday. MacBeth wishes to get to power quickly with the help of his wife, Lady MacBeth, he kills Duncan, and everyone else in his way. He takes his throne but is soon overturned by his former subordinates. In MacBeth, Shakespeare creates characters who parallel other characters either through their words and actions, or through similarities in characters lives. Each character in the story has a double, through either their similarities, or through their differences. Each character also has something about them that makes them unique. MacBeth and Lady MacBeth are the epitome of an interesting parallelization. At the beginning of the story, the two characters are complete opposites. MacBeth takes the feminine role, while Lady MacBeth is masculine: Lady MacBeth ?Come, you spirits That tend on mortal thoughts, unsex me here, And fill me, from the crown to the toe, top-full Of direst cruelty! Make thick my blood, Stop up th' access and passage to remorse That no compunctious visitings of nature Shake my fell purpose, nor keep peace between Th' affectand it! Come to my woman's breasts, And take my milk for gall, you murd'ring minis- Ters, Wherever in your sightless substances You wait on nature's mischief! Come thick night, And pall thee in the dunnest smoke of hell, That my keen knife not see the wound it makes, Nor heaven peep through the blanket of the dark, To Cry ?hold, Hold!? (I,v,41-54) Lady MacBeth basically states here that she wants the gods to make her a man. She wants to kill Duncan herself. On the other hand when MacBeth hears of Lady MacBeths seriousness in her actions he comes back with: MacBeth ?We will proceed no further in this business: He hath honored me as of late, and I have bought Golden opinions from all sorts of people, Which would be worn now in their newest gloss, Not cast aside so soon.? (I,vi,31-34) Nearing the end of the story, Lady MacBeth and MacBeth switch roles. Lady MacBeth becomes feminine and MacBeth becomes masculine. Lady MacBeth becomes week and pitiful while MacBeth, carry's out his plans to help him remain king: Lady MacBeth ?Out damned spot! Out I say! One: two: why, then ?tis time to do ?t. Hell is murky. Fie, my lord, fie! A soldier, and afeard? What need we fear who knows it, when none can call our pow'r to accompt? Yet who would have though the old man to have had so much blood in him (V,I, 36-41) MacBeth is now fully masculine and trying to keep the kingdom together. When Lady MacBeth commits suicide near the end of the story, he pushes it off and continues with his plan to remain king: MacBeth ?She should have died hereafter; there would have been a time for such a word. Tomorrow, and tomorrow, and tomorrow Creeps in this petty pace from day to day, To the last syllable of recorded time; And all our yesterdays have lighted fools The way to dusty death. Out, out, brief candle! Life's but a walking shadow, a poor player That strits and frets his hour upon the stage And then is heard no more. It is a tale Told by an idiot, full of sound and fury Signifying nothing.? (V,v, 17-28) The second pair is also interesting. This pair deals with time frames during the story (i.e. MacBeth from the Beginning, Macduff throughout). MacBeth from the beginning of the story is the loyal thane of Glamis. He protects the king and is awarded a second territory called Cawdor. The king trusted him, and MacBeth was a loyal servant. Then, he met the three witches, which pumped prophecies or, ?seeds of evil? into his head. These prophecies are very tempting but are ultimately destructive. Macduff on the other hand, is faithful and loyal to Duncan and his heir Malcolm. MacDuff knew what MacBeth was plotting and he went to Malcolm to help him stop MacBeth: Malcolm Let us seek out some desolate shade, and There Weep our bosoms empty. MacDuff Let us rather Hold fast the mortal sword, and like good men Bestride our down-fall'n birthdam. Each new morn New widows howl, new orphans cry, new sorrows Strike heaven on the face, that it resounds As if

Nutritional Facts Essays - Iron Metabolism, Dietary Supplements

Nutritional Facts Essays - Iron Metabolism, Dietary Supplements Nutritional Facts The first nutritional "fact" most Americans learn is that iron builds strong and healthy bodies.1 The beef lobby, cereal manufacturers, bread makers, and drug companies have bombarded the public with iron being the cure-all for fatigue and "iron-poor blood." People have been mislead by drug companies pushing iron supplements and by old-fashioned ideas about iron, the magical nutrient of strength. Even the cartoons of the past pushed iron as the secret ingredient in Popeye's spinach. Television advertisements used to urge people to "perk" up their "tired" blood with a liquid iron supplement called Geritol, but the Geritol ad was illegal. The Federal Trade Commission began an ineffective seventeen year battle with J.B. Williams Company, the original makers of Geritol, in 1959. In 1965, the company was ordered to stop airing its fraudulent ads. Americans saw the advertisements for six years before the stop order was given. By that time, there had been much damage to lots of people. The company continued to broadcast ads that stated that Geritol could make you feel better, improve your sex life, and marriage. Five out of eight of its new ads showed the transformation of a tired worn-out housewife into a "tigress." In 1970, the Justice Department filed a $1,000,000 suit against the J.B. Williams Company, charging that they did not stop their deceptive advertising as ordered by the Federal Trade Commission. In 1973 a judge gave J.B. Williams Company a total of $812,000 in fines. This was the largest ever for a Federal Trade Commission violation.2 Even today breakfast cereals are fortified with 25 - 200% of Federal Drug Administration's recommended daily intake of iron. Iron is also added to multivitamins, pastas, breads, and other processed food. Iron supplements are meant to prevent anemia, a condition in which blood is not able to carry the required amount of oxygen.3 Only two to six percent, mainly women and children, ever develop anemia. Human body contains about 2 to 5 grams of iron. Sixty to seventy-five percent of the iron is present in the form of hemoglobin. The center of the hemoglobin molecule is iron. Hemoglobin is found in the circulating red blood cells. Each red blood cell lasts about 120 days. Specialized scavenger cells in the liver, spleen, and bone marrow take up the old red blood cells and recycles the iron, fat, and protein. Iron is treated as "gold" by the blood. This careful recycling of iron means that our daily requirement of iron from food is quite small. The human body loses about 1 milligram of iron a day in the form of sweat, urine, and the natural sloughing of cells in the intestinal wall, hair, skin, and nails. Premenopausal women do not need more than one-half of a MacDonald's hamburger or a small bowl of Kellogg's corn flakes to prevent anemia. The iron stores are like water in a camel's hump. The human body can draw from them at any time. Most humans could live for long periods of time without iron from the diet. Premenopausal women, that lose 1.6 milligrams of iron per day, could last for three to seven months without depleting their iron stores of 200 - 300 milligrams of iron. Most men and postmenopausal women could go on without iron for two or more years. This assumes an average daily iron loss of one milligram and iron stores of at least 600 milligrams. The iron is transported and stored until needed. The extra amounts of iron are stored in the protein ferritin that is found inside the cells. In a normal person, the small intestines only absorb iron from food when the iron stores are low. If the body really becomes iron deficient, more iron is absorbed from food. As the body's stores of iron increase, the absorption of iron by the intestinal walls decreases.4 Some research shows that the intestinal cells do not have a way to decrease the percentage of meat iron absorbed from food when the iron stores are sufficient. The iron sneaks in because it is chemically attached to the heme in red meat. Only two to ten percent of the iron from fruits, vegetable, and grains is absorbed. Several studies show that vegetarians have lower iron stores

Duke TIP ACT Score Requirements

Duke TIP ACT Score Requirements SAT / ACT Prep Online Guides and Tips Maybe you’ve read our article about Duke’s Talent Identification Program (TIP), maybe you’ve heard about it from other students, or maybe you did your own research. You've heard vague hints of "score requirements," but don't know exactly what that means- do you have to take the ACT in order to take part in TIP? How well do you have to do on the ACT in order to become a TIPster? (I refuse to believe that students who participate in TIP do not go by this name.) There are ACT (or SAT) score requirements for the Duke TIP: specifically, there are score requirements for Summer Studies programs and eStudies courses. I'm going to cover this complicated topic in exhaustive detail, explaining what the programs are, what the ACT score requirements are, and giving you some tips on how to meet these requirements. These requirements all refer to the regular ACT, not the ACT Aspire or ACT EXPLORE. Feature image credit: Ilyse Whitney/Flickr The Lay of the Land: Duke TIP Programs and Eligibility Of all the Duke TIP programs with SAT/ACT score requirements, the eStudies program has the lowest score requirements, followed by the Academy for Summer Studies, which falls in the middle, and the Center for Summer Studies, which is the most stringent when it comes to score requirements. These are not the same as the test requirements for the 7th Grade Talent Search, which you can find more about here. How do you figure out if you are eligible for Summer Studies programs or eStudies courses? TIP determines your eligibility based on your SAT or ACT scores. If you participate(d) in the 7th Grade Talent Search, you will take (or took) the SAT or ACT as part of that program (read more about this in my complete guide to the talent search). It is the score from this testing that will qualify you for Summer Studies and/or eStudies courses. Don't worry- you can always retest if your scores aren’t high enough to get you into the program(s) you want. If you’ve already taken the SAT or ACT as a 7th grader, you can still enroll in the 7th Grade Talent Search- you just have to do it using the paper application and include an official SAT/ACT score report. If you didn’t participate in the 7th Grade Talent Search, you can still participate in Summer Studies and eStudies courses using 8th-10th Grade Option, but I'll cover that in another article. For now, I’ll only be talking about the ACT score requirements for 7th and 8th-10th graders who did participate (or will be participating) in the 7th Grade Talent Search and are interested in attending Duke TIP Summer Studies and/or eStudies courses. A Word of Warning Currently, Duke TIP does not require participants to take the Writing portion of the ACT (that is, the essay). It’s always possible, though, that Duke TIP may update its ACT score requirements. But don't worry- as more information becomes available, we’ll be sure to update this article to reflect current knowledge. Duke TIP Scores: The Particulars The Talent Identification Program has its ACT requirements for all Summer Studies courses in a table here and for eStudies courses over here. To be honest, I found the tables veryconfusing, especially when it came to figuring out Center for Summer Studies eligibility. To make it easier for any one in the future trying to figure out the score requirements, I’ve separated out the requirements for what you need to get into the Academy for Summer Studies, the Center for Summer Studies, and eStudies courses and ordered them from lowest to highest score requirements. Hopefully, since all the scores will be in one blog post, rather than spread out over a website, it will be less tricky to read and understand. To find specifics of the program you care about, just scroll down. As you will see below, there’s a difference in the requirements you have to meet if you take the ACT during 7th grade, as part of the 7th Grade Talent Search, or if you take it again later on (between 8th and 10th grades). ACT Requirements: eStudies What are Duke TIP eStudies courses? According to the Duke TIP website, the eStudies program offers online courses in a variety of different subjects, open to â€Å"seventh through eleventh graders who have achieved certain qualifying scores on theACT or SAT.† Out of all the Duke TIP courses, the eStudies courses have the lowest score requirements. The specific courses you can take, however, depends on your score on particular sections of the ACT. So what eStudies courses are you eligible for? Use this handy table to find out! If you took the ACT in†¦ And scored†¦ You are eligible for... 7th grade ≠¥ 17 on Math or ≠¥ 19 on Science eStudies Math* ≠¥ 18 on English or ≠¥ 19 on Reading eStudies Verbal** 8th grade ≠¥ 20 on Math or ≠¥ 21 on Science eStudies Math ≠¥ 21 on English or Reading eStudies Verbal 9th grade ≠¥ 23 on Math or Science eStudies Math ≠¥ 23 on English or ≠¥ 24 on Reading eStudies Verbal 10th grade ≠¥ 25 on Math or Science eStudies Math ≠¥ 25 on English or ≠¥ 27 on Reading eStudies Verbal *eStudies Math subjects include Fine Arts, Mathematics, Sciences, Social Sciences, and Technology. You do not qualify for Humanities courses unless either your ACT Math or Science score also reaches the threshold.**eStudies Verbal subjects include Fine Arts, Humanities, Sciences, Social Sciences, and Technology. You do not qualify for Mathematics courses unless either your ACT English or Reading score also reaches the threshold. What If I Just Barely Don’t Make It? On their site, Duke TIP states students who narrowly missed qualifying, are too old, orwho missed the enrollment period for Duke TIP's 7th Grade Talent Search can still join Duke TIP through 8th-10th Grade Option. Unfortunately, they don't define "narrowly," so it's hard to say when you should consider 8th-10th Grade Option. What is clear is that you can always retest on your own if you don’t meet the score qualifications for eStudies courses, or if you need a higher score to attend the Academy or Center for Summer Studies. We have more information about the application process in our article about the Duke TIP 7th Grade Talent Search. ACT Score Requirement: Academy for Summer Studies The Academy for Summer Studies at Duke TIP offers high-achieving students in grades 7-10 summer classes and interaction with similarly gifted peers. How do you know if your ACT scores qualify you for the Academy for Summer Studies? You're eligible for the Duke TIP Academy for Summer Studies Math classes if you... Took the ACT in... And on Math scored between... Or on Science scored between... 7th grade 19-22 20-22 8th grade 23-24 9th grade 25-26 10th grade 27-28 You're eligible for the Duke TIP Academy for Summer Studies Verbal classes if you... Took the ACT in... And on English scored between... Or on Reading scored between... 7th grade 20-22 20-23 8th grade 23-24 24-25 9th grade 25-27 26-29 10th grade 28-30 30-31 Note: while you can take Academy classes in all subject areas if you have an eligible ACT Math or Science score, if you only have an eligible ACT English or Reading score, then you may only take classes in Fine Arts, Humanities, Sciences, or Social Sciences- you are not eligible to take Mathematics or Technology courses. SCORE logo by Score, in the Public Domain. ACT Score Requirement: Center for Summer Studies The Center for Summer Studies is another summer program offered by Duke TIP; the difference between the Center and the Academy is in the intensity of the courses and the stringency and specificity of the score requirements. Again, we’ve compiled the information from the TIP website into a simpler, easier-to-understand form, dividing up information for 7th-10th graders and 8th-10th graders into two separate tables (one for Center Math classes and one for Center Verbal classes). You're eligible for the Duke TIP Center for Summer Studies Math classes if you... Took the ACT in... And on Math or Science scored... 7th grade ≠¥ 23 8th grade ≠¥ 25 9th grade ≠¥ 27 10th grade ≠¥ 29 You're eligible for the Duke TIP Center for Summer Studies Verbal classes if you... Took the ACT in... And on English scored... Or on Reading scored... 7th grade ≠¥ 23 ≠¥ 24 8th grade ≠¥ 25 ≠¥ 26 9th grade ≠¥ 28 ≠¥ 28 10th grade ≠¥ 31 ≠¥ 30 Duke TIP Score Requirements: A Few Final Notes For Summer Studies courses, you may only apply to the level for which you are qualified. This not only means that you can't apply to the Center for Summer Studies if your score only qualifies you for Academy courses (which makes sense), but that you can't apply to the Academy for Summer Studies if your score is higher than their score requirements- instead, you may only apply to the Center for Summer Studies. On their Test Prep page, Duke TIP has the following to say about their score requirements: â€Å"We do not recommend that students spend a lot of time preparing for the test. Above-grade-level testing is meant to be diagnostic, and many test prep programs just make students anxious.We think the best way to prepare is to be familiar with the structure of the test and the timing of each section, and to review the practice questions we provide so that you know what to expect and are at east on test day.† [Source: Test Prep | Duke TIP. Accessed 2019-07-19.] And look, when you’re taking the ACT as a 7th or 8th grader, you don't need to worry about getting an ACT score that will get you into college. In fact, we have a series of articles about what a good ACT score for a 7th grader and an 8th grader might be, based on extrapolations from data from Duke TIP and John Hopkins CTY. We also have information about what a good score for a 9th and 10th grader might be, but if you're taking the ACT in high school, you'll want to check to see if you're interested in any schools that require all scores sent, and if so, what score target you want to be aiming for. How Do I Meet The Requirements? 4...TIPS (you knew that was coming) #1: Spend time prepping. Yes, I know I just quoted the Duke TIP site, which advises the opposite, but let's be realistic: you'll need at least some test prep. This in no way means that you should invest in any kind of ACT prep course- just that, at the bare minimum, you'll want to familiarize yourself with the ACT's structure and timing. You should take a practice test to gauge where you are, then use this information to determine the amount you have to improve to meet the qualifications for your desired program. Know how much time you have to study so you can plan your prep accordingly. If you only have a few weeks before the ACT, you'll want to study more hours per week than if you have several months left. For more advice, read our articles about taking the ACT in 7th and 8th grade. #2: Take the ACT as early as you can and still feel prepared. If you take the ACT earlier on, you have a lower score threshold to meet (compare the 7th grade vs 8th-10th grade requirements for eStudies, Academy, and Center courses). In general, older students know more than younger students (stop rolling your eyes, younger siblings), but if you've spent time prepping, it's worth it to take it sooner rather than later. #3: If you have a standout test section, focus on it. Duke TIP is unlike most colleges and universities in that you can get in to its various programs even if you only do well on one section of the ACT. If you find that you're getting in practice scores of around 16 for English and Math but 25 for Reading and Science, own it. In the above example, you're better off putting in the time to make sure you can consistently get above the score threshold for Reading and/or Science (depending on whether you want to take Humanities or Math/Science courses) than you are trying to bring up all four of your section scores. #4: Know the ACT strategies that are appropriate for your level. Advice for getting a 36 on a section will not necessarily be relevant if you only need to get above a 26. One example of this is that if you’re aiming for a 26, you can skip the hardest 20% of questions entirely and just focus on answering as many of the easier questions correctly as possible (although since the ACT does not penalize for wrong answers, make sure to leave no space blank, even if you end up choosing â€Å"B† every time). We have more useful information like this in our article on how to guess correctly on the ACT. Handshake by Quinn Dombrowski, used under CC BY-SA 2.0/Cropped from original. Hello, ACT Score Requirements, nice to finally meet you. I hope this article helped clarify the mystery of what the ACT score requirements for Duke TIP are. If you'd rather take the SAT, be sure to read our SAT edition of this article. What’s Next? Curious about what the Duke TIP 7th Grade Talent Search is? I demystify Duke TIP in this complete guide. Delve into our trove of ACT strategies by reading through our collection of blog posts on that very topic. What's a good 7th grade ACT score in general? Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically.

Microeconomics Term Paper Example | Topics and Well Written Essays - 1250 words

Microeconomics - Term Paper Example onsumption of services and goods by a consumer, the theory is an attempt to measure the general satisfaction a consumer derives from the consumption of a good, the utility theory also states the law of diminishing marginal utility, this concept states that as the number of units consumed by a consumer increase then the marginal utility level keeps on dropping until it reaches zero. For example the utility gained by consuming the first unit of a good or service is higher than the utility gained from the consumption of the second unit, this shows that as we increase the number of units we consumed the utility level keeps on declining. From the chart above it is evident that the consumption of more units of a good will increase the level of utility, however marginal utility declines as the number of units increase, the above diagram shows the total utility curve and the marginal utility curve, the point labeled 0 is the optimal point of consumption for a consumer whereby a consumer should consume to this point where the marginal utility value is equal to zero. For a rational consumer the optimal consumption of a good wil also be determined by the cost of price of goods and services and also their income, if we assume that a cionsumer consume two goods with different utility levels and that his income is 200 dollars, also assume that we have good A which costs 20 dollars and good b which costs 10 dollars then we can formulate a budget line by determining the maximum number of goods a consumer will consume, for good A the maximum number of units the consumer can purchase is 200/20 = 10 for good B the maximum number of units the consumer can purchase is 200/10 = 20, therefore we derive the budget line as follows: The chart shows the indifference curve, the higher the indifference curve the higher the level of utility derived and the lower the indifference curve the lower the level of utility derived. From our above example we determine the optimal level of consumption

Issues in International trade Essay Example | Topics and Well Written Essays - 1250 words

Issues in International trade - Essay Example They include consultancy and tourism among others. A product sold in the international market is an export while a product bought from the same market is an import. Trade issues often dominate and are a continuing theme in the international market. The issues include NAFTA, embargoes, sanctions, and the environment, trade deficits, The Euro, tariffs and WTO among others. Some of the issues are discussed as follows: A reduction in trade barriers allowing for integrated global economies and permitting international trade will affect the environment through the expansion of economic activities. It alters the composition and make-up of economic activity by bringing about a change in the techniques and means of production. The course of consideration and for environmental protection was raised by environmental groups on the potential North American Free Trade Agreement (NAFTA). This was just the first of a far cry to other voices opposing international or regional trade on the possible effects it may have on the environment. It is seen that an increase in international trade is detrimental to the objective of preserving a clean, healthy and sustainable global environment. It has been argued that any expansion of market to a global scale, ultimately leads to the environmental pollution and faster depletion of natural resources. These natural resources are scarce in nature. For example, international trade of coal has made it easier for countries to acquire it for economic activities. Coal has been known as a leading environmental pollutant. International trade has facilitated the growth of industries whose primary objective is the export of goods to the international market. For example, the United States has promoted several of such agreements such as the African Growth and Opportunity Act (AGOA) and the NAFTA. These agreements have led to the rapid growth of industries that have little government oversight and control. These

Overpopulation of the Earth Essay -- Environment Environmental Polluti

Overpopulation of the Earth The little animatronic children at Disney World were right, it is â€Å"a small world after all†; maybe even too small. At the beginning of the present century there were approximately 1.7 billion people in the world(Southwick pg.159). Today, there are nearly 6 billion people in the world. The world’s population has more than tripled in the span of a hundred years. Given that the earth’s population is constantly on the rise and seeing as how our natural resources are gradually being depleted, we must ask ourselves: what is to become of us and what is to become of our environment? In order to understand this question we must first have a thorough understanding of whether or not there is a population crisis. Having understood this, we must then look at the consequences, if any, of the aforementioned population dilemma. Finally, it is imperative to see whether the governments of the world have appreciated this situation as a crisis and whether or not they have acte d. I) Population Crisis? Population concerns began in 1798 when Thomas Robert Malthus, an Anglican clergyman, wrote an essay entitled An Essay on The Principle of Population (Malthus). The essay focused on the relationship that he believed existed between population growth and human subsistence levels (by ‘subsistence’, Malthus meant anything from food to jobs to land). Malthus argued that the earth’s population expanded ‘geometrically’ while â€Å"’subsistence increases only at an arithmetic ration’†(Malthus). This meant that at some point human beings would experience a scarcity of land, food and jobs, leading to â€Å"human misery and catastrophe† (Southwick pg. 159). This time of misery is described as a time where the poorest classes in societ... ...ally emphasize sexual education and contraceptive distribution), other governments have offered economic incentives to limit family size, governments like China have tried to coerce their people to limit family size and so on. Some of these responses have been more effective than others. Personally, I would argue that the emphasis should be on sexual education and distribution of contraceptives. Sources: Dolan, Edwin G., Ch. 5 from "TANSTAAFL: The Economic Strategy for Environmental Crisis" 1974, pp. 55-72. Hern, Dr. Warren. "Why Are There So Many of Us?" http://www.drhern.com/fulltext/why/paper.html Malthus, Thomas Robert. An Essay on The Principle of Population http://arts-sciences.cua.edu/econ/faculty/aguirre/resenv.htm#1.%20MalthTheory Southwick, Charles H., Ch. 15 from "Global Ecology in Human Perspective" Oxford Univ. Press, 1996, pp. 159-182.

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,