Taking a Look at the Industrial Revolution - 598 Words

The Industrial Revolution, which took place from the 18th to 19th centuries, was a time during which mainly agricultural, rural societies in Europe and America became industrial and urban. Industrialization created a shift to powered machinery, factories and mass production. The iron and textile industries, as well as the development of the steam engine, played crucial roles in the Industrial Revolution, along with transportation, communication and banking. While industrialization brought about an enlarged amount and variety of manufactured goods and an improved standard of living for some, it also caused grim employment and living conditions for the poor and working classes. Many reasons contributed to Britain’s role as the origin of the Industrial Revolution. For one, it had great deposits of coal and iron ore, which proved necessary for industrialization. Additionally, Britain was the world’s leading colonial power, which meant its colonies could serve as a source for raw materials, as well as a market for manufactured goods. As demand for British goods increased, merchants needed more economical methods of production, which led to the growth of streamlining and the factory system. The textile industry, in particular, was changed by industrialization. Before modernization and factories, textiles were made mainly in people’s homes. Workers set their own schedules, which proved difficult for merchants to control and resulted in numerous inefficiencies. In the 1700s, aShow MoreRelatedTaking a Look at the Industrial Revolution1202 Words   |  5 PagesIndustrial Revolution The Industrial Revolution was one of he factors that lead to great development of many countries. The Industrial Revolution’s hearth, the United Kingdom, started the great economic and societal changes that were results of the country’s rapid industrialization. This revolutionary period, lasting from the late 18th Century to the early 19th Century, helped shape today’s world and its effects are still seen. Since the Industrial Revolution was born in the United Kingdom, theRead MoreImpact Of The Industrial Revolution On Capitalism And The Contemporary Society Essay1625 Words   |  7 PagesThe impact of the Industrial Revolution on Capitalism and the Contemporary Society, When looking into the past during the Industrial Revolution, there were many cause and effect events that occurred, the Industrial Revolution changed the lives of many, these changes in society were caused by the innovations of the time period, and the need for a more productive environment. There was a movement from an agricultural society to a manufacturing society; these changes affected the family’s abilityRead MoreThe Industrial Revolution and Imperialism Essay872 Words   |  4 Pagesbefore. The changes were the industrial revolution that was taking place. Countries were rapidly advancing to industrial societies producing much greater quantities of goods at much lower costs. The goods produced ranged everywhere from cotton textiles to military machinery, all of which would play important roles in rounds of imperialistic expansion that would follow. The imperialistic displays by Western European nations also brought about several other industrial revolutions in other r egions includingRead MoreAdvantages of Industrial Revolution Essay1711 Words   |  7 PagesThe Industrial Revolution Prior to researching, I had a strong belief that the Industrial Revolution was a â€Å"dark† time period where children and poor workers would gather in a disease-ridden factory where they would work for several hours a day for little pay. Workers would cough harshly as the intense smoke filled the air. Every day, children would die from exhaustion just to fill the wallets of factory owners. But further research has convinced me that the Industrial Revolution was a benefit toRead MoreThe Industrial Revolution And The Effects On Women s Rights1569 Words   |  7 PagesThe Industrial Revolution and the Effects on Women s Rights The Industrial Revolution was one of the most important and productive periods of history. The Industrial Revolution has to do with the time between the late 18th century and mid-19th century where there were profound advances in production, manufacturing, and other fields of engineering. It began in Great Britain in the late 1700s which then spread to the United States and then to many other parts of the world. Societies were very ruralRead More Economy and Society in Europe During 1848 Essay1393 Words   |  6 Pagesdestroyed, food riots broke out, and financial crises sprung about due to the high rate of unemployment.2 The development of major cities, such as Prague, Berlin, Liepzig, etc. contributed to the creation of the revolution. Also, anger arose over political issues because the middle class was taking control, and the peasants were starving due to this. Another point that caused rage was tax collection. People threatened to beat tax collectors and burn down revenue offic es. Europe, at this time, was fightingRead MoreIndustrial Revolution Imagine a country side, the rolling hills, and small cottages that scatter1500 Words   |  6 PagesIndustrial Revolution Imagine a country side, the rolling hills, and small cottages that scatter throughout the land. A rural life in England, while something new was approaching the once serene world. This was a new world that was defined by steel and coal. Life in the western part of the world changed forever. In Great Britain the Industrial Revolution began. It brought power driven machinery and factory organization, which led to rapid development of communication, transportation, and urbanizationRead MoreThe Workshop of the World: The Industrial Revolution Essay1449 Words   |  6 PagesThe Industrial Revolution that occurred between the eighteenth and nineteenth century has been characterized as a transformation of a society no longer rooted in agricultural production. A burgeoning relationship between society and technology is at the core of what allowed Britain to emerge as the world’s first industrialized nation. This interaction between political, social, economic and demographic forces altered almost every aspect of daily life, bringing about â€Å"modern† economic developmentRead MoreThe Steam Railway And The Invention Of The Modern Age993 Words   |  4 Pagesfrom the industrial revolution. The expansion of the railway system across the United States and the world influenced how we live our lives today. Throughout the industrial revolution the steam railway reduced the time it took for freight to reach its final destination, expanded the reach people could sell products too, provided a safer transport compared to horses, along with countless other things. The steam railway better connected people and helped fuel the second industrial revolution. WithoutRead MoreEssay on Life Pre and Post Industrial Revolution938 Words   |  4 Pagesgone through since the industrial revolution. Lives of people including men, women and children use to be lot different before the revolution and post revolution. The revolution helped certain people in many ways but also t here were side effects which were seen in the lives and are seen post revolution. Industrialization has affected many people in particular to the lives of women and men to their way of working. The paper will focus on the different parts of the revolution and more on the life during

Apple Case Study - 1250 Words

Running Head: Apple Case Study Case Study: Apple Davenport University July 5, 2011 Overview When looking for great employees Apple strays away from the norm. Instead of looking for great salespeople who have a great track record of using sophisticated technology Apple has decided to do it differently. They look for people who love their product and enjoy using it. Apple is looking for people who, â€Å"isolate true enthusiasm and believe in the Apple products† (Jason Colquitt, 2011). Black cards are the new invention at this company. Apple has a new strategy to have their people hand out black cards t employees at other organizations. These cards have the apple emblem and have something written on each side. On the front of the†¦show more content†¦We first must look at their organizational behavior. Organizational behavior is a field of study devoted to understanding, explaining, and ultimately improving the attitudes and behaviors of individuals and groups in organizations (Jason Colquitt, 2011). Now by Apple going into other corporations and handi ng out their black cards that is just making their employees think poorly about the corporations they work for; thinking there is better out there. To some, Apple’s behavior can be considered good, hard-nosed business, but to most it is considered to acting unethically. By developing this black card strategy Apple is not just trying to hire anyone, they are trying to steal employees from other companies, so they already know they will be good for the job. Apple really needs to take a step back and look at their behavior. They need to find the correlation between their actions and other organizations. The type of organizational behavior being displayed here by Apple is the method of intuition with a bit of experience. It is obvious that their strategy is working and there experience tells them so. That does not make it right though. They are still costing other organizations good employees. The job performance showed by their employees is very negative. Apple needs t o go out and get a 360 degree feedback from an outside source. Black Card Training When Apple brings a newShow MoreRelatedStrategic Management: Apple Inc. Case Study Essay1090 Words   |  5 PagesUnit 1 Case Analysis: Apple Inc. GB520 Strategic Human Resource Management About â€Å"Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it hasRead MoreCase Study of Apple1444 Words   |  6 PagesApple Inc. Case Study By: Executive Summary: Apple Inc. is a great computer technology company with a wide range of products that serve to every persons needs.    Not only are their products great but so is their customer service as well.    They are very loyal to their customers needs and are very good about honoring their warranties which are incredible deals.    They are also steadily doing very well with their stocks and their net income over the past years.    With their income up 364%Read MoreApple Case Study3565 Words   |  15 PagesApple Case Study [pic] Table of contents Introduction I – MARKET ANALYSIS A – Personal Computer industry evolution B – Porter five forces C – Apple positioning II – APPLE COMPANY A – History and key advantages B – Four P analysis C – Apple strategy since 1990 D – Apple key success factors and competitive advantage SWOT analysis Conclusion Introduction Apple Computer is an innovative company evolving on the multimedia and high technologyRead MoreApple Case Study6443 Words   |  26 PagesS STRATEGIC PLANNING AT APPLE INC.1 w 909A26 Fabrizio Di Muro wrote this case under the supervision of Professors Kyle Murray and Miranda Goode solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Ivey Management Services prohibits any form of reproduction, storage or transmittal withoutRead MoreApple Case Study1694 Words   |  7 Pages1. Historically, what were Apple s major competitive advantages? Apple were a very successful company at maintaining competitive advantage over its main competitors, this success can be analysed in more detail using Porter s five forces model which is broken into: 1. The threat of substitute products 2. The threat of the entry of new competitors 3. The intensity of competitive rivalry 4. The bargaining power of customers 5. The bargaining power of suppliers These are the five forces thatRead MoreApple Case Study1340 Words   |  6 PagesApple’s competitive advantage has been product differentiation and premium pricing strategy. Apple is known for offering high-end innovative products. Mike Markkula, investor and entrepreneur, was able to attract a lot of venture capital which allowed Apple to place a significant investment into RD in order to create its premium products. Unlike other â€Å"Wintel† firms that manufacture only hardware, Apple controls both hardware and software placing it into a unique position of providing consumersRead MoreApple Case Study1088 Words   |  5 PagesPlease divide Apple s history into periods and trace the changes in business models that took place over these periods. Apple history is explained in the case history from 1972 – 2006. Apples history is described below, reflecting on the changes in Business Model (how the company generated revenue). The Beginning years, 1976 – 1985: Apple was founded in 1976 and they built a computer circuit board named the Apple I. Within span of 4 years they went to IPO with the help of Venture capitalistRead MoreCase Study in Apple1473 Words   |  6 Pagesâ€Å"Remember the Apple† I. Problem Statement Apple Inc. is known for their innovative products, combining user-friendly technology and elegant design, Apple’s bite of the consumer electronics market has been getting a little larger year by year. The Apple brand is fun, unique, and memorable because it is such a departure from brands that sound serious and corporate. Apple’s Macintosh computers has always stood out because it looks different from other personal computers and relies on softwareRead MoreA Case Study of Apple1169 Words   |  5 Pagesthink of Apple, they will often talk about their different products or the firms legendary founder Steve Jobs. This is because the company has been focused on providing consumers with next generation technology that addresses their communications needs. To achieve these objectives, they are involved in a number of activities including: the manufacture / distribution of computers, portable music devices / phones and applications to support them. The combination of these f actors has allowed Apple to becomeRead MoreCase Study : Apple Inc.1349 Words   |  6 Pages Case Analysis: APPLE INC.: IPODS AND ITUNES Donna Martinelli TEXAS CHRISTIAN UNIVERSITY September 3, 2014 Table of Contents Executive Summary..................................................................................................3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Defining the Challenge...............................................................................................3 Analyzing the case data....................

Advantages of living in big cities Free Essays

Advantages of living in big cities better transport facilities:shanghai has an extensive public transport system, largely based on buses, trolley buses, taxis, and a rapidly expanding metro system. There are 12 metro lines and 303 stations,with an operating route length of 468 kilometres (291 m’), making the system the second longest in the world. On 16 October 2013, with the extension of Line 11 into Kunshan, Jiangsu province, Shanghai Metro became the first rapid transit system in China to connect two provincial-level administrative ivisions. We will write a custom essay sample on Advantages of living in big cities or any similar topic only for you Order Now There are plans to further connect the Shanghai Metro with the metro systems of Suzhou and Wuxi. more Job opportunities : Firstly, the industrialization has given a lot of new Jobs such as services, advertising and marketing. As a consequence, opportunities to work in those brand new fields are widely suggested to everyone. Afterward, multinational companies have been coming to cooperate and set up economic relationships with the country. Factories and branches are opened in the city as a result. This has led to appealing offers of large number of Jobs for many dwellers. Thus, It’s much easier to find a well paid Job or any Job for despered. better quality of education :schools are incomparable with those in a smal towns. Fudan University, Jiao Tong University, shanghai newyork university Descent medical care and hospitals: when you have an emergency or a serious disease in a big city you can easy find any hospital near a place you live and take a short time to get there. meet more people:Cities have a large population and plenty of people to ommunicate with, often from several nationalities. To meet people from different parts of the world, you may not need to go any farther than the local grocery store or park. the myriad life of the metropolis :easy access to cinemas ,theaters, museums for those who like culture. For fussys, shops on every corner,lots of pubs and restaurants to choose. Places to go and things to do in a city are not hard to find. Dating and nightlife are abundant in cities; plenty of clubs and social gatherings give ou a better chance of meeting friends or that special someone. If you get home from work late and have no time to cook, a restaurant is sure to be close to home. If you are too tired to go out, it is as simple as a phone call to have the food delivered quickly to your door. When you are in the mood for a good movie or concert, there are usually several to choose from within a short driving distance. If you want to shop, the local mall has many stores in one place. Plenty of schools exist close to home for children. By Julieyuyixian How to cite Advantages of living in big cities, Papers Advantages of Living in Big Cities Free Essays Shanghai has an extensive public transport system, largely based on buses, trolley buses, taxis, and a rapidly expanding metro system. There are 12 metro lines and 303 stations,with an operating route length of 468 kilometres (291 mi), making the system the second longest in the world. On 16 October 2013, with the extension of Line 11 into Kunshan, Jiangsu province, Shanghai Metro became the first rapid transit system in China to connect two provincial-level administrative divisions. We will write a custom essay sample on Advantages of Living in Big Cities or any similar topic only for you Order Now There are plans to further connect the Shanghai Metro with the metro systems of Suzhou and Wuxi. more job opportunities : Firstly, the industrialization has given a lot of new jobs such as services, advertising and marketing. As a consequence, opportunities to work in those brand new fields are widely suggested to everyone. Afterward, multinational companies have been coming to cooperate and set up economic relationships with the country. Factories and branches are opened in the city as a result. This has led to appealing offers of large number of jobs for many dwellers. Thus, It’s much easier to find a well paid job or any job for despered. better quality of education: schools are incomparable with those in a smal towns. Fudan University, Jiao Tong University, shanghai newyork university Descent medical care and hospitals: when you have an emergency or a serious disease in a big city you can easy find any hospital near a place you live and take a short time to get there. meet more people:Cities have a large population and plenty of people to communicate with, often from several nationalities. To meet people from different parts of the world, you may not need to go any farther than the local grocery store or park. the myriad life of the metropolis :easy access to cinemas ,theaters, museums for those who like culture. For fussys, shops on every corner,lots of pubs and restaurants to choose. Places to go and things to do in a city are not hard to find. Dating and nightlife are abundant in cities; plenty of clubs and social gatherings give you a better chance of meeting friends or that special someone. If you get home from work late and have no time to cook, a restaurant is sure to be close to home. If you are too tired to go out, it is as simple as a phone call to have the food delivered quickly to your door. When you are in the mood for a good movie or concert, there are usually several to choose from within a short driving distance. If you want to shop, the local mall has many stores in one place. Plenty of schools exist close to home for children. How to cite Advantages of Living in Big Cities, Papers

Impairment of Assets Longreach Limited

Questions: 1. Write a report to management, specifically explaining the purpose of the impairment test ,how the existence of goodwill will affect the impairment test and the basic steps to be followed in applying the impairment test? 2. Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015? Answers: 1. AASB 136, Impairment of Assets, details about the situations when an entity should conduct the test for impairment of its assets and the entries for the same. It is similar to the International Accounting Standard 36 (IAS 36). The main objective of applying this standard is to ensure that the entity is not carrying its assets at a value which is more than the realisable amount. The importance of this impairment of assets has increased after the global economic crisis of 2008, thus for Longreach Limited this standard is also equally important and applicable so that the investors and the shareholders are sure of the fact that the assets are recorded at the actual realizable value and therefore the true worth of the company can also be known in case of liquidation. Impairment of any asset is to be done only if there are clues for such devaluation of asset. However it is to be understood that impairment is not done for all the assets which form a part of the balance sheet of the company. The exceptions to the same are as under: AASB 102- Inventories AASB 111- Construction Contract AASB 112- Deferred Tax Asset AASB 119- Employee Benefit AASB 139- Financial Assets AASB 140- Investment assets held for disposal AASB 141- Agricultural assets disclosed at fair value AASB 4- Insurance Contract AASB 5- Non-Current Assets held for sale It is not necessary that the impairment of an asset would take place only due to reasons which are internal to the organization but reasons can be outside the organization too. The reasons internal to the organization may be obsolescence, any asset held for sale or removal or decline in the performance of the entity (aasb.gov.au., 2007). Further the reasons outside the organization may be existence of unfavourable legal, political or economical situations, market capitalisation is less than the NAV of the company, declination in the value of an asset or increment of the market interest rate to an extent so as to have a negative impact on the asset or such cash generating unit. Thus once the indicators are recognized then an impairment test is conducted wherein the recoverable and the carrying amount of an asset is compared and if the former is less than the later then the difference of the two is recorded in the expense statement under the head impairment loss and the said amount is deducted from the current carrying amount of the asset. Thus once the asset passes the test of impairment then the company is required to revisit the useful life of the asset, the method of depreciation and the value of the asset at the end of the useful life. Further to this if the recoverable amount of the single assets is not possible to find out then the recoverable amount of the entire cash generating unit is found out (sace.sa.edu.au., 2012). Therefore some important terms that Longreach Limited should be made aware of are as under: Recoverable amount: The recoverable amount of any asset or a CGU is the greater of the fair value less cost of selling the asset or the value-in-use. Carrying Amount: It is the amount which is reflected in the balance sheet of a corporate after accounting for the depreciation and the impairment accumulated over the years. Cash Generating Unit: It is the smallest identifiable cluster of assets that has the capability of generating revenues for the entity independently. Value-in-use: The net present value of the cash flows that an asset would generate in future is termed as value-in-use (Albrecht et.al. 2011). Just like impairment of asset happens when there are indications for the same, similarly reversal of the same also is possible if the indications are such. If the indicators point towards the fact that the asset that was impaired in the past no more needs to account for such a loss, then the amount can be reversed. However the reversal is limited to the carrying amount of the asset that would have been had such an impairment not taken place. The reversal amount is recorded as an income in the income statement and the amount is added back to the asset in the balance sheet (Hamilton et.al.2011) . The accounting for impairment of goodwill is different. Whenever impairment of assets take place then in that case the impairment of goodwill happens first. Similarly in case of impairment of a CGU, the impairment of goodwill takes place fully followed by the impairment of other assets proportionately. Therefore goodwill is at first subject to impairment in comparison to the other assets. Secondly, goodwill once impaired can never be reversed unlike the other impaired assets of a balance sheet. Simple reason behind the same is that as per AASB 138 on Intangible Assets, internally generated goodwill is not realised and accounted for. Therefore any increment in the recoverable value of the goodwill after the impairment of the same would be considered as increase in the internally generated goodwill and not reversal of the same. Apart from the same , AASB 136 requires certain disclosures to be made with regards impairment of assets for any entity. The same is equally important for Longreach Limited to understand as it is an integral part whenever impairment occurs of any asset(Bond et.al. 2016). Therefore the following disclosures are a must: Following data should be reflected in the disclosures for each class of the asset being impaired: The amount of loss due to impairment that has been realised and accounted for both in the income statement and the line item(s) of the statement of comprehensive income The amount of any impairment that has been reversed and how the recording of the same has taken place both in the income statement as well as the line item(s) of the statement of comprehensive income. The amount of loss suffered by the entity because of impairment or the amount of impairment that has been reverted back that is a part of the other comprehensive income statement of that period. If Longreach Limited does segmental reporting then the following disclosures are also to be done: The loss due to impairment that is shown in the profit and loss account and in the equity as well. The reversal of such previously recorded impairment and its accounting in the profit and loss account and the equity as well. Supposedly impairment is material in nature of a CGU or an asset inclusive of goodwill then the below mentioned disclosures are a must: The reasons for impairment both internal as well as external The amount of impairment recorded whether loss or reversal of the same If the asset impaired is individual then the nature of the same and if the same is a part of a reportable segment of the entity then the details of the said segment. In case a CGU is being impaired then the nature of the same and amount of such loss or reversal (Dagwell et.al. 2012). Therefore on summarizing the same, it is very evident that impairment is a very important accounting standard which enables a company to disclose the assets of a company at its true value thus ensuring that the data revealed is true and fair in all aspects. 2. As per AASB 136, inventory is one such asset of Crossbow Limited which is not subject to impairment as the same is covered in AASB 102. The other assets goodwill, machinery, land and factory are subject to impairment. Further to this, brand name Crossbow Shoes is also not subject to impairment since the company has just changed its method of selling its products to online therefore the indications are positive for the said asset. Further to this land will be impaired separately since its recoverable amount is known separately which is less than its present carrying value. The remaining balance impairment will happen in the order goodwill will be impaired in full and the balance proportionately. The detailed calculation is as under: Since the value of land is known separately therefore the same is to be impaired separately. The impairment loss for land is $200000- $ 171000= $29000. The journal entry is as under: Profit and Loss Account (loss on impairment) Dr...............$29000 To accumulated impairment loss (Land)...............................................$29000 The total impairment is $1680000- $1420000 = $260000. Out of the same the impairment of land will be deducted i.e. $260000-$29000 =$231000. From the same goodwill will be impaired fully and the balance of $231000-$40000= $191000 will be allocated to factory and machinery to in the proportion of 7:4. Therefore the impairment allocated to factory will be 7/11*191000= $121545 and that to machinery will be 4/11*191000 =$69455 The journal entry will be as under: Profit and Loss Account (loss on impairment) Dr.................$231000 To goodwill A/c.....................................................................................$40000 To accumulated impairment loss (Shoe Factory)A/c...........................$121545 To accumulated impairment loss (machinery) A/c................................$69455 References aasb.gov.au., (2007), AASB 136- Impairment of Assets, Available at https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPapr07_07-07.pdf (Accessed 19th January 2017) Albrecht, S., Stice, E., Stice, J., Swain, M. (2011).Accounting: Concepts and applications(11th ed.). Mason: South-Western Bond, D., Govendir, B., Wells, P., (2016), An evaluation of asset impairment by Australian Firms and whether they were impacted by AASB 136, Available at https://onlinelibrary.wiley.com/doi/10.1111/acfi.12194/full (Accessed 19th January 2017) Dagwell, R., Wines, G., Lambert, C., (2012), Corporate Accounting in Australia, Pearson: Australia Hamilton, K., Hyland, B., Dodd, J.L., (2011), Impairment : IASB-FASB Comparison, Drake Management Review, vol.1, no. 1, pp. 55-67 sace.sa.edu.au., (2012), Asset Accounting Policy Statement, Available at https://www.sace.sa.edu.au/documents/652891/e3c3644b-109e-404a-af87-2a114bb6651e (Accessed 19th January 2017)