Ch23+24 Apush Notes

AP US History Review Sheet Chapters 23 and 241. In the Presidential appointment of 1868, U. S. Awards triumph was because of the votes of previous dark slaves. 2. In the late nineteenth century, those political applicants who crusaded by Ëœwaiving the ridiculous shirt were helping voters to remember the treasonous Confederate Democrats during the Civil War. 3. A weapon that was utilized to put Boss Tweed, pioneer of New York Citys scandalous Tweed Ring, in prison was the sketch of the political humorist Thomas Nast. 4.The Credit Mobilier embarrassment included railroad development payoffs including the Union Pacific Railroad. 5. One reason for the Panic of 1873 was the development of a bigger number of production lines than the market could bear. 6. As an answer for the frenzy of 1873, account holders proposed inflationary approaches. 7. One aftereffect of Republican Ëœhard cash approaches was to help choose a Democratic House of Representatives in 1874, and later the formation of the Greenback Labor party. 8. During the Gilded Age, the Democrats and the Republicans had hardly any noteworthy financial contrasts. 9. The presidential appointment of the 1870s and 1880s stimulated incredible enthusiasm among voters. 10. One purpose behind the overwhelming turnouts and divided enthusiasm was the Gilded Age was sharp ethnic and social contrasts in the participation of the two gatherings. 11. During the Gilded Age, the soul of both the Democratic and the Republican gatherings was political support. 12. The serious issue in the 1876 presidential political decision fixated on the two arrangements of political race returns put together by Florida, South Carolina, and Louisiana. 13. The Compromise of 1877 came about the end Reconstruction, and the withdrawal of government troops from the South. 14. The seque3nce of presidential terms of the Ëœforgettable leaders of the Gilded Age (counting Clevelands two non-back to back terms) was Hayes, Garfield, Arthur, Cleveland, Benjamin Harrison, and Cleveland. 15. In the 1896 instance of Plessy versus Ferguson, the Supreme Court decided that Ëœseparate however equivalent offices were sacred. 16. Toward the finish of Reconstruction, Southern whites disappointed African-Americans with survey charges (made illicit in government races through the 24th Amendment in 1964, and in state races ensuing to that by means of Supreme Court administering), proficiency tests (made unlawful by the Voting Rights Act of 1965), granddad provisos (settled on illicit by Supreme Court choice in 1915), and financial terrorizing. 17. The legitimate codes that built up the arrangement of isolation were called Jim Crow laws. Jim Crow was the name of a character in a minstrel appear. 18.The railroad strike of 1877 began when the four biggest railways cut pay rates by 10%. 19. Work turmoil during the 1870s and 1880s brought about the utilization of government troops during strikes. 20. In the wake of hostile to Chinese savagery in California, the U. S. Congress passed a law denying movement of Chinese workers to American (the Chinese Exclusion Act of 1882. ) 21. One of the principle reasons that the Chinese went to the U. S was to burrow for gold. 22. Abraham Lincoln was the principal president to be killed while in office; the second was James Garfield. The third was William McKinley, and the fourth and last was JFK.23. President James A. Garfield was killed by an unsettled, frustrated office seeker.24. The Pendleton Act expected deputies to open office to take a serious assessment, and prohibited the necessity that government laborers add to political decision campaigns.25. With the section of the Pendleton Act, government officials currently looked for cash from enormous corporations.26. The 1884 political race challenge between James G. Blaine and Grover Cleveland was noted for its own assaults on the two candidates.27. U. S. Award, Rutherford B. Hayes, James Garfield, and Chester Arthur were all Republicans. Grover Cleveland was a Democrat. Cleveland and Wilson would be the main Democrats chose somewhere in the range of 1860 and 1928.28. On the issue of the duty, President Grover Cleveland upheld a lower rate.29. The sign ificant crusade issue of the 1888 presidential political race was levy strategy. 30. In the later many years of the nineteenth century, it was commonly obvious that the locus of political force was Congress.31.The early Populist battle to make an alliance of white and dark ranchers finished a supremacist kickback that disposed of dark democratic in the South.32. The political improvements of the 1890s were to a great extent formed by the most extreme and stretched out financial downturn up to that time.33. Financial distress and the cancelation of the Sherman Silver Purchase Act prompted the ascent of a master silver pioneer an appealling youthful Congressman from Nebraska William Jennings Bryan.34. President Grover Cleveland excited wide-spread open displeasure by his activity of getting $65 million in gold from J. P. Morgans banking syndicate.35. During the Gilded Age, a large portion of the railroad nobles assembled their railways with government assistance.36. The national gover nment assisted with financing cross-country railroad development in the late nineteenth century by giving railroad organizations land grants.37. The main cross-country railroad worked without government help was the Great Northern.38. The best single factor assisting with prodding the stunning industrialization of the post-Civil War years was the railroad network.39. The U. S. hanged to standard time regions when the significant rail lines set up the division of the landmass into four zones with the goal that they could keep plans and stay away from wrecks.40. Understandings between railroad enterprises to partition the business in a given region and offer the benefits were called pools.41. Endeavors to direct the hoarding practices of railroad partnerships originally came as activity by state legislatures.42. The principal government administrative organization intended to shield the open enthusiasm from business mixes was the Interstate Commerce Commission.43. One of the most note worthy parts of the Interstate Commerce Act was that it spoke to the principal enormous scope endeavor by the government to direct business.44. After the Civil War, the ample flexibly of incompetent work in the U. S. assisted with building the country into a modern giant.45. One of the techniques by which post-Civil War business pioneers expanded their benefits was end of as much rivalry as possible.46. Carnegie steel; Rockefeller oil; Morgan banking; Duke tobacco; Vanderbilt railroads.47.The steel industry owed a lot to the innovative virtuoso of Henry Bessemer (the Bessemer Process, which made it conceivable to improve a level of steel, at a superior cost. )48. J. P. Morgan checked his opposition by setting officials of his bank on the sheets of organizations that he needed to control. This strategy was known as an interlocking directorate.49. Americas initial billion-dollar organization was United States Steel.50. The primary significant result of the oil business was kerosene.51 . The oil business turned into a colossal business with the creation of the inside burning engine.52. John D. Rockefeller utilized the accompanying strategies to make progress in the oil business coercing refunds from railways, tightening an approach of rule or ruin, utilizing spies, and utilizing high-pressure deals methods.53. The good news of riches, which related faithfulness with riches, disheartened endeavors to help the poor.54. The Fourteenth Amendment was particularly useful to goliath companies while protecting themselves against guideline by state governments.55. The Sherman Anti-trust Act was from the outset basically used to control the intensity of work unions.56.During the period of industrialization, the South remained overwhelmingly rustic and agricultural.57. In the late nineteenth century, tax reductions and modest, nonunion work pulled in material assembling to the Å"new South. 58. The gathering generally affected by the new mechanical age was ladies. 59. The p icture of the Å"Gibson Girl  spoke to an autonomous and athletic Å"new lady. 60. For the most part, the Supreme Court in the late nineteenth century deciphered the Constitution so as to support corporations.61. In its endeavors for the benefit of laborers, the National Labor Union won an eight-hour workday for government workers.62. The Knights of Labor accepted that contention among capital and work would vanish when work would work business and industries.63. The best and most suffering worker's guild of the post-Civil War period was the American Federation of Labor.64. By 1900, American perspectives toward work started to change as people in general came to perceive the privilege of laborers to deal all in all and strike. By and by, by far most of managers kept on battling sorted out labor.65. By 1900, sorted out work in America had started to build up a positive picture with the public.66. Students of history incredulous of the commanders of industry and free enterprise surre nder that class-based dissent has never been a ground-breaking power in the U. S. since America has more prominent social versatility than Europe has.67. Coming up next were significant factors in post-Civil War modern extension: a political atmosphere preferring business; an enormous pool of incompetent work; a plenitude of characteristic assets; and American creativity and inventiveness.68. The principal cross-country railroad was finished by the development endeavors of the Union Pacific and the Central Pacific railways.

The Geography of Russias 21 Republics

The Geography of Russia's 21 Republics Russia, authoritatively called the Russian Federation, is situated in Eastern Europe and stretches from its fringes with Finland, Estonia, Belarus, and Ukraine through the Asian landmass where it meets Mongolia, China and the Sea of Okhotsk. At roughly 6,592,850 square miles, Russia is the universes biggest nation dependent on zone. Russia is enormous to the point that it covers 11 time zones. Due to its enormous size, Russia is partitioned into 83 government subjects (individuals from the Russian Federation) for neighborhood organization all through the nation. Twenty-one of those government subjects are viewed as republics. A republic in Russia is a region that is involved individuals who are not of Russian ethnicity. Russias republics are in this way ready to set their official dialects and build up their constitutions. Coming up next is a rundown of Russias republics requested one after another in order. The republics mainland area, region, and authority dialects have been incorporated for reference. Adygea Landmass: EuropeArea: 2,934 square miles (7,600 sq km)Official Languages: Russian and Adyghe Altai Landmass: AsiaArea: 35,753 square miles (92,600 sq km)Official Languages: Russian and Altay Bashkortostan Landmass: EuropeArea: 55,444 square miles (143,600 sq km)Official Languages: Russian and Bashkir Buryatia Landmass: AsiaArea: 135,638 square miles (351,300 sq km)Official Languages: Russian and Buryat Dagestan Landmass: EuropeArea: 19,420 square miles (50,300 sq km)Official Languages: Russian, Aghul, Avar, Azeri, Chechen, Dargwa, Kumyk, Lak, Lezgian, Nogai, Rutul, Tabasaran, Tat and Tsakhur Chechnya Landmass: EuropeArea: 6,680 square miles (17,300 sq km)Official Languages: Russian and Chechen Ingushetia Landmass: EuropeArea: 1,351 square miles (3,500 sq km)Official Languages: Russian and Ingush Kabardino-Balkaria Landmass: EuropeArea: 4,826 square miles (12,500 sq km)Official Languages: Russian, Kabardian and Balkar Kalmykia Landmass: EuropeArea: 29,382 square miles (76,100 sq km)Official Languages: Russian and Kalmyk Karachay-Cherkessia Landmass: EuropeArea: 5,444 square miles (14,100 sq km)Official Languages: Russian, Abaza, Cherkess, Karachay and Nogai Karelia Landmass: EuropeArea: 66,564 square miles (172,400 sq km)Official Language: Russian Komi Landmass: EuropeArea: 160,580 square miles (415,900 sq km)Official Languages: Russian and Komi Mari El Landmass: EuropeArea: 8,957 square miles (23,200 sq km)Official Languages: Russian and Mari Mordovia Landmass: EuropeArea: 10,115 square miles (26,200 sq km)Official Languages: Russian and Mordvin Sakha Landmass: AsiaArea: 1,198,152 square miles (3,103,200 sq km)Official Languages: Russian and Sakha North Ossetia-Alania Landmass: EuropeArea: 3,088 square miles (8,000 sq km)Official Languages: Russian and Ossetic Tatarstan Landmass: EuropeArea: 26,255 square miles (68,000 sq km)Official Languages: Russian and Tatar Tuva Landmass: AsiaArea: 65,830 square miles (170,500 sq km)Official Languages: Russian and Tuvan Udmurtia Landmass: EuropeArea: 16,255 square miles (42,100 sq km)Official Languages: Russian and Udmurt Khakassia Landmass: AsiaArea: 23,900 square miles (61,900 sq km)Official Languages: Russian and Khakass Chuvashia Landmass: EuropeArea: 7,065 square miles (18,300 sq km)Official Languages: Russian and Chuvash

Psychosis Symptoms and Causes

Psychosis Symptoms and Causes Addiction Addictive Behaviors Print Psychosis Symptoms and Causes By Elizabeth Hartney, BSc., MSc., MA, PhD Elizabeth Hartney, BSc, MSc, MA, PhD is a psychologist, professor, and Director of the Centre for Health Leadership and Research at Royal Roads University, Canada. Learn about our editorial policy Elizabeth Hartney, BSc., MSc., MA, PhD Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on July 23, 2019 Marga Frontera/Getty Images More in Addiction Addictive Behaviors Caffeine Internet Shopping Sex Alcohol Use Drug Use Nicotine Use Coping and Recovery Psychosis is a serious mental health condition in which a person loses touch with reality. The extent to which the person is affected by psychosis varies greatly, with some people appearing to be quite normal, but experiencing some difficulties with their inward thoughts or perceptions, to others barely being aware of their surroundings. People experiencing any level of psychosis are said to be psychotic. The word psychotic is often used incorrectly, for example, to refer to people who are violent. Most people who are psychotic are not, in fact, violent, but psychosis may carry a serious risk of harm to oneself or others, particularly when there is potential for people who are psychotic to misinterpret other peoples intentions as harmful or threatening. Therefore, it is important for people who are developing symptoms of psychosis to be assessed for risk of harm by a mental health professional as soon as possible. Symptoms Here are the common symptoms of psychosis: Problems With Thinking People with psychosis believe things to be true that other people of the same culture do not believe to be true. This doesnt mean anyone with unusual beliefs is psychotic or that having an unusual belief that your friends dont have means you are psychotic. Being psychotic is more severe in that the person cant figure out what is or isnt real. These problems with thinking are called delusions. Problems With Perception   Commonly called hallucinations, people with psychosis see, hear, feel or otherwise perceive things that arent really there. They might hear voices that they cant distinguish from their own thoughts or the voices of other people. These are called auditory hallucinations. Or they might see and feel bugs that arent really there crawling on them and harm themselves trying to pick them off. Seeing things that arent there are called visual hallucinations, and feeling things that arent there are called tactile hallucinations. Someone with psychosis cant tell the difference between a hallucination and really perceiving something. This isnt the same as a trick of the eye or mishearing or misinterpreting something someone says; the voices are heard when no one is speaking and are very real to the person with psychosis. Causes Psychosis is a symptom of several mental illnesses, including schizophrenia and bipolar disorder. However, if you or someone you care about appears to have the symptoms of psychosis, it does not necessarily mean one of these mental illnesses is the cause. A psychiatric assessment will determine whether or not this is the case. There are certain psychiatric conditions involving psychosis that can occur in the post-partum period, although this is very unusual, and new mothers often feel and behave differently than usual as they adjust to this life change. Again, a psychiatrist can tell whether there is a problem with psychosis or whether the mother is experiencing another type of difficulty. Heres the problem for people who use drugs. Psychosis can be caused by drugs such as cocaine, LSD, meth, marijuana  and even large quantities of alcohol. So when someone develops psychosis, it is very important to be honest about any drug use, as the treatment for substance-induced psychosis is very different from the treatment of psychosis that has other causes. People who use drugs and people with psychosis may both have difficulty trusting healthcare professionals. They may fear getting in trouble for using illicit drugs, or they may fear that treatments will be forced on them by the medical profession. They may have bizarre beliefs about other people around them generally or healthcare professionals in particular, and this may be part of the psychosis. But  it is important to give your doctor a chance to help you to feel better. The symptoms of psychosis are treatable, and those who are treated can have full and happy lives, particularly if they receive early treatment that is based on accurate information. A Word From Verywell If you or any people you know are at risk of harming themselves or someone else, encourage them to see a doctor as soon as possible. If necessary, they can have a psychiatric assessment against their will, although this would only occur if the person was at imminent risk of harming themselves or someone else.

Effects Of European Exploration On The World - 1252 Words

Effects Of European Exploration By the late 1400’s into the 1500’s, European countries began to expand into the rest of the world. This resurgence of trade interest resulted in a demand for foreign goods and exploration of water routes. This Age of Exploration united the Americas with Europe, Asia, and Africa. The exchanges were plentiful and stabilizing for many communities. However, along with the positive influences, came the negative aspects, which impacted cultures and civilizations around the world. European exploration changed travel, trade, health, religion, language, architecture, the economy, and humanity. It is this author’s position that the positive influences and contributions have had a greater impact on growth and development globally than the challenges presented. Historically, the Age of Exploration shaped the world as we know it today. Many positive effects for the Age of Exploration can be identified. Historical discoveries and persuasive revelations shaped every continent. Referring to the Island of Espanola, Columbus wrote, â€Å"It will serve as a place to which (colonists) can return and from which they can carry on trade with the neighboring islands† (Document 1). This quote shows that Columbus foresaw the potential advantages of this exploration. He understood the longevity of the colonization and trade to come. This historical time of transition is often referred to as the Columbian Exchange because it started with Christopher Columbus.Show MoreRelatedThe Age Of Exploration : John Winthrop1546 Words   |  7 PagesMarroquin Mr. Verdi History -9 26 May 2016 The Age of Exploration John Winthrop, first governor of Massachusetts Bay Colony: â€Å"Touching these savages, there is a thing I cannot omit to remark to you, it is that it appears visibly that God wishes that they yield their place to new peoples.† (Crosby, Alfred W.) The Age of Exploration, (and Exploitation) brought an era of racism, nationalism, and ideals of superiority to the New World. Initially a beneficial concept, promoting trade and discoveryRead MoreEffects Of European Exploration On Europe, Africa, And The Americas1523 Words   |  7 PagesThe effect of European Exploration on Europe, Africa, and the Americas Whenever you hear about the European Exploration, or ‘The Age of Discovery’’ you hear a lot about what the Europeans gained from it, while they did learn a lot from this and gather a lot of new resources they were not the only ones affected. The Age of Discovery affected more areas that just Europe, it also affected the Americas and Africa. To prove this we must first know what European Exploration is. From the 15th century toRead MoreThe Age Of Exploration And Its Effects On Economic And Political Power1611 Words   |  7 PagesSummative As European economy grew, and became more reliant on a cash system, replacing the land-based system of feudalism. The power shift is prominent, shifting from the lords and nobles to the merchants of the middle class. The Age of Exploration has provided a framework for economic life around the world for several centuries while also shaping politics, social relations, cultures, and natural environments, changing the very nature of society. Of course the most important aspect of this modernisticRead MorePositive Impact Of Christopher Columbus s Discoveries1247 Words   |  5 PagesColumbus’s Discoveries The world is a better place because of Christopher Columbus’ important discoveries in the New World. His explorations resulted in the vast expansion of property for Europe, the exchange of goods and cultures between countries and a change in the worldview of geography. Columbus’s explorations were the catalyst for unprecedented trade known as the Columbian Exchange, which started the exchange of goods and ideas that would last for centuries and change the world forever. His discoveriesRead MorePositive Impact Of Christopher Columbus Discoveries1249 Words   |  5 PagesColumbus’ Discoveries The world is a better place because of Christopher Columbus’ important discoveries in the New World. His explorations resulted in the vast expansion of property for Europe, the exchange of goods and cultures between countries and a change in the worldview of geography. Columbus’s explorations were the catalyst for unprecedented trade known as the Columbian Exchange, which started the exchange of goods and ideas that would last for centuries and change the world forever. His discoveriesRead MoreThe Columbian Exchange : The Connection Between Europe, Asia, And The New World753 Words   |  4 PagesTrade is very important part of a countries economy. For example, the New World brought many new economic opportunities to the countries willing to explore and conquer. With Portugal and Spain’s explorations to the new world, inspired the world to explore in search of riches. The Spanish and Portuguese sailed across the Atlantic, Indian, and the Pacific Ocean. The Engl ish, French, and Dutch would follow in footsteps of the Spanish and Portuguese in the sixteenth century. By 1500, many discoveriesRead MoreEffects Of The Age Of Exploration1195 Words   |  5 PagesThe age of exploration is a period of time from the 15th century to the 18th century where exploration and new discovery grow rapidly for the Europeans. It represent a time of both good and bad when the Europeans founded new lands and colonize them, such as the New World. To them, they had greatly benefited as their power grew but for others, their land were invaded and lost many lives. The Spanish and the Portuguese are two main leaders of Europe that began the movement of exploration and colonizationRead More The European Invasion of the Aztec Civilization Essay1274 Words   |  6 PagesThe European Invasion of the Aztec Civilization Thunder on their Ships They are landing with rulers, squares, compasses Sextants White skin fair eyes, naked word Thunder on their ships. Leopold Sedar Senghor, â€Å"Ethiopiques† (Adas) â€Å"Thunder on their ships† can be used to describe Herman Cortes when he landed at what is now Veracruz, Mexico in 1519 A.D. The light skinned and bearded Spaniard led his men into territory occupied by the Aztec civilization. Little did Cortes know, but thatRead More Age Of Discovery Essay939 Words   |  4 Pages What were the Effects of the Age of Discovery? nbsp;nbsp;nbsp;nbsp;nbsp;The Age of Exploration was a time of struggle and wealth for many European countries. The pursuit of a trade route to the Far East led many countries across the ocean, looking for the great spice cities that were rumored by Marco Polo. These countries knew that whoever found the shortest or best route would become rich, very quickly. Explorers from many European countries embarked on journeys that not even they had anyRead MoreEconomic Interaction Between Europe And Africa962 Words   |  4 Pagesin the Atlantic Basin stayed the same in that Europe remained dominant over trade. Europe started economic interaction in the Atlantic Basin. The beginning of European dominance over trade began in the Atlantic Basin during the Age of Exploration when searching for trade routes (specifically to Asia) was a main priority. European exploration in the Atlantic Basin began with Prince Henry of Portugal; he sponsored a series of voyages down the West African coast. As Po rtugal was sailing around Africa

Inner and outer beauty in Dorian Gray Essay - 1495 Words

The term ‘beauty’ may have very relative significance. Something can be beautiful for us, but ugly for other people. The external beauty of a person is often the first thing that we pay attention to. This is the result of the association of beauty with good and ugliness with evil. Through the outer appearance we make a general opinion about a given person. Such a way of thinking may be very misleading. In order to get to know the person we need to look to the inside – into the soul. This is the place where the real beauty and ugliness are hidden. The notion of inner and outer beauty is perfectly presented in the novel ‘The Picture of Dorian Gray’ by Oscar Wilde. The story described in this book shows how the external attractiveness†¦show more content†¦Under the influence of Lord Henry, Dorian is more and more eager for seeking pleasure in life. This becomes his priority. Realizing his astonishing look, Dorian’s deeds become more and more cruel and his inside starts changing irreversibly. The first significant change in his inner beauty occurs after meeting an actress, Sybil Vane. At the beginning we may think that his affection to her is true, but soon after it is obvious that he fell in love only with her acting. Therefore, when Lord Henry criticizes Sybil’s acting Dorian finds no other reasons for being with her:’ I loved you because you were marvelous, because you had genius and intellect, because you realized the dreams of great poets and gave shape and substance to the shadows of art. You have thrown it all away. You are shallow and stupid. My God! How mad I was to love you! What a fool I have been!’(Chapter 7). The cruel break up becomes the first step to Dorian’s downfall. The first change appears in the picture, reflecting the corruption of his soul. The face in the picture changes its expression. It is no longer beautiful and innocent but rather cruel and incalculable. It represents the same emotions, which accompanied Dorian while breaking up with Sybil. He realizes that the wish made in front of the painting became true. His outer beauty did not change at all, but his inner beauty began to fade away. For a short time remorse and fear occur inside Dorian, especially when he learns of Sybil’s suicide.Show MoreRelatedInner and Outer Beauty in Dorian Gray1512 Words   |  7 PagesThe term ‘beauty may have very relative significance. Something can be beautiful for us, but ugly for other people. The external beauty of a person is often the first thing that we pay attention to. This is the result of the association of beauty with good and ugliness with evil. Through the out er appearance we make a general opinion about a given person. Such a way of thinking may be very misleading. In order to get to know the person we need to look to the inside Ââ€" into the soul. This is the placeRead MoreKiller Instincts in Oscar Wildes Novel, The Picture of Dorian Gray778 Words   |  3 Pagesothers,† (Wilde 46). Dorian Gray deceives himself by not knowing he is in love, and ends by showing everyone his most horrible traits. In his novel, The Picture of Dorian Gray, Oscar Wilde talks about Dorian Gray, an innocent, beautiful young man who does not understand the power of his own beauty. Basil Hallward, an artist, discovers Dorian and paints a magnificent portrait of him. When one of Basil’s friends Lord Henry advises Dorian of his divine beauty and youth, Dorian wishes for the portraitRead MoreThe Picture Of Dorian Gray Analysis1623 Words   |  7 Pages Oscar Wilde’s novel The Picture of Dorian Gray shows us the triumph of a corrupting influence over a virtuous one. In the novel, Lord Henry’s influence over Dorian overpowers Basil’s and leads to Dorian’s eventual demise. In analyzing Oscar Wilde’s The Picture of Dorian Gray, the theme of good versus evil reflects off of Lord Henry’s and Basil’s interactions with Dorian and Dorian’s internal struggles, thus exemplifying that a person with weak virtues will falter in the face of hedonistic temptationRead MoreThe Picture Of Dorian Gray1416 Words   |  6 PagesWilde’s novel, The Picture of Dorian Gray, chronicles the transformation of Dorian Gray from an naive youth to a corrupted monster. The simplicity of the storyline contrasts the complexity of Dorian Gray; specifically, the cause of his corruption. The cursed portrait, and characters such as Lord Henry and Basil, play a significant role in the Dorian’s journey to pernicity, but neither of three can be held entirely responsible. Dorian Gray’s initial innocence conceals an inner evil within him; the amalgamationRead MoreBeauty in The Picture of Dorian Gray Essay1224 Words   |  5 PagesPicture of Dorian Gray, beauty is depicted as the driving force in the lives of the three main characters, Dorian, Basil and Lord Henry. Dorian, the main character, believes in seizing the day. Dorian is described as an addict, having mad hungers that grew more ravenous as he fed them. Basil, the artist, admires all that is beautiful in life. Lord Henry, accredited ones physical appearance to the ability of achieving accomplishments in life. Lord Henrys moral position in Dorian Gray is akin toRead MoreThe Picture Of Dorian Gray Analysis1257 Words   |  6 PagesIn the Victorian prose, The Portrait of Dorian Gray explores the idea of duality. The divided self within the character of Dorian Gray begins with his misunderstanding of his self-image, beca use of the influence of a portrait. Dorian’s fate and transformation connect to the painting, which leads to his downfall. The painting contains Dorians moral decline as changes to the picture affects his life. Through the portrait, he gains an image of himself as an independent individual compared to his previousRead MoreOscar Wilde Character Analysis1093 Words   |  5 Pagescultured aristocrat, yet some scenes are in the east, where Dorian skulks, seeking out opium dens The golden west side contrasting with the shady east side mirrors the difference between Dorian’s clean outer appearance and his tainted soul Classroom in Dorian’s mansion is where the portrait is hidden, eventually transitioning into the same place where Dorian becomes a murderer The classroom that Dorian hides his portrait in reminds Dorian of his childhood, furthering his obsession with youth BookRead MoreThe Picture Of Dorian Gray1950 Words   |  8 PagesIn the â€Å"Picture of Dorian Gray†, Oscar Wilde prefaces his only novel by examining the value of art and the artist. After a short examination, Wilde concludes that â€Å"All art is quite useless† (Wilde, 2), contradicting the principles of the Aesthetic Movement, a contemporary to Wilde and Dorian Gray, that became popular during the fin-de-sià ¨cle English Victorian society. Aestheticism believes in imitating art and living life experiencing the pleasures of the world, adopting the hedonistic way of livingRead MoreAbstract Aestheticism in Oscar Wildes The Picture of Dorian Gray2148 Words   |  9 Pagessuggested that art should hold no purpose in society and merely exist for its beauty. He argued, as any aesthete would, that by giving art a value greater than its beauty, society is in turn ruining it. He also added that art must be looked at as a whole, and only those who can see the complete pictu re can truly understand the meaning behind art, while also seeing into the artists soul. In the novel The Picture of Dorian Gray, Oscar Wilde portrays aestheticism in many ways, mainly through art and theRead MoreGender Trouble in Paris Essay628 Words   |  3 PagesIn Gender Trouble, Judith Butler discusses complications with constructions of inner and outer worlds of the body. She argues that â€Å"internalization of gender†, as common linguistics describes it, is a part of the heterosexual hegemonic binary of gender conformity which distinguishes inner and outer worlds. Gender, in the commonly accepted model, is innate and through a process of bringing out the inner gender is expressed. Butler proposes, instead, that â€Å"the gendered body is performative† and

A Comparison of the Codes of Ethics Free Essays

The Alabama Educator Code of Ethics and the University of North Alabama’s Code of Ethics Professional Dispositions both focus on many of the same core values. There are nine standards in the Alabama Educator COE and seven dispositions in UNA’s COE. Standard 1 and Disposition 1 both advocate having a commitment to professional standards. We will write a custom essay sample on A Comparison of the Codes of Ethics or any similar topic only for you Order Now While UNA’s COE simply states that an educator should have a commitment to professionalism and ethical standards and leaves the interpretation of this up to the educator, the Alabama Educator COE goes more in depth. Standard 2 focuses on trustworthiness, and Standard 3 concentrates on unlawful acts. Standard 5 states that an educator should refrain from the use of alcohol and tobacco products and never use illegal drugs. Standard 4 and Disposition 5 both address respecting the differences of students. They both state that an educator should not discriminate by race, gender, religion, or disability. Both also encourage educators to provide challenging, equitable learning opportunities for all students. Both the Alabama Educator COE and UNA’s COE promote collaboration, but the UNA’s COE is more comprehensive in its description. Both Disposition 6 and Disposition 7 address collaboration; Disposition 6 focuses on working with family and community members, and Disposition 7 focuses on working with other educators. The Alabama Educator COE only mentions collaboration in standard one. One big variation between the two codes is that UNA’s COE does not address any obligations to your contract, while the Alabama Educator COE uses the entire Standard 9 to focus on it. Another key difference is that the Alabama Educator COE discusses confidentiality thoroughly in Standard 8, but UNA’s COE does not mention it. The ethical conduct discussed in Standard 6 (Public Funds and Property) and Standard 7 (Remunerative Conduct) does not show up in UNA’s COE either. UNA’s COE uses Disposition 3 to concentrate on using technology and research in the classroom, but the Alabama Educator COE does not discuss technology. The two sets of ethical behavior share many of the same principles, but are laid out in different ways. If an educator applies both COEs to his or her practice, then they will definitely be successful. How to cite A Comparison of the Codes of Ethics, Papers

A Comparison of the Codes of Ethics Free Essays

The Alabama Educator Code of Ethics and the University of North Alabama’s Code of Ethics Professional Dispositions both focus on many of the same core values. There are nine standards in the Alabama Educator COE and seven dispositions in UNA’s COE. Standard 1 and Disposition 1 both advocate having a commitment to professional standards. We will write a custom essay sample on A Comparison of the Codes of Ethics or any similar topic only for you Order Now While UNA’s COE simply states that an educator should have a commitment to professionalism and ethical standards and leaves the interpretation of this up to the educator, the Alabama Educator COE goes more in depth. Standard 2 focuses on trustworthiness, and Standard 3 concentrates on unlawful acts. Standard 5 states that an educator should refrain from the use of alcohol and tobacco products and never use illegal drugs. Standard 4 and Disposition 5 both address respecting the differences of students. They both state that an educator should not discriminate by race, gender, religion, or disability. Both also encourage educators to provide challenging, equitable learning opportunities for all students. Both the Alabama Educator COE and UNA’s COE promote collaboration, but the UNA’s COE is more comprehensive in its description. Both Disposition 6 and Disposition 7 address collaboration; Disposition 6 focuses on working with family and community members, and Disposition 7 focuses on working with other educators. The Alabama Educator COE only mentions collaboration in standard one. One big variation between the two codes is that UNA’s COE does not address any obligations to your contract, while the Alabama Educator COE uses the entire Standard 9 to focus on it. Another key difference is that the Alabama Educator COE discusses confidentiality thoroughly in Standard 8, but UNA’s COE does not mention it. The ethical conduct discussed in Standard 6 (Public Funds and Property) and Standard 7 (Remunerative Conduct) does not show up in UNA’s COE either. UNA’s COE uses Disposition 3 to concentrate on using technology and research in the classroom, but the Alabama Educator COE does not discuss technology. The two sets of ethical behavior share many of the same principles, but are laid out in different ways. If an educator applies both COEs to his or her practice, then they will definitely be successful. How to cite A Comparison of the Codes of Ethics, Papers

Throughout my high school care... free essay sample

Throughout my high school career, I have been involved in many activities that will have an influence on my future self. Of all these programs, no program has been more influential on me than the FIRST Robotics program. This program has not only instilled in me values that will help me for the rest of my life but has also shown me a career path that I wish to follow.I spent only one year in the FIRST program, but I thoroughly enjoyed that one year as it taught me a lot and let me apply whatever I learned. I became a participant in my senior year as that was when I moved to the USA from India. Since I joined the club, I have put in at least 100 hours into the preparations of our robot. I am a part of the URSA Major club (Team 2849) and I was a programmer in the club. We will write a custom essay sample on Throughout my high school care or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page With the help of a robust robot that we designed this year, our team has been doing very well in the qualifiers and if all goes well, our robot has the capability to compete at the national level. Through building and programming the robot, I saw firsthand the real-life applications of the concepts that we learned in school. For example, the 2018 FRC required the robot to be able to lift a cube about 6 feet high and this meant that the robot couldnt travel too fast or be too heavy at the top as both conditions would lead to the robot tipping over. This was something that both the build team and the programming team had to keep in mind. The program has also taught me the value of teamwork, especially while working on a large project like the robot. Just like the FIRST program, I envision Embry-Riddle to be a place where I would have the opportunity to apply what I was taught and a place where a student is given real-world problems to solve so that he/she will be prepared for the real world. Everyone also helps to make sure that every job is done right, and I have learned from the FIRST program that being able to work in a team is essential to becoming a great engineer. FIRST Ro botics gave me first-hand experience in the field of engineering and computer science and helped me decide that it is what I want to do for the rest of my life. The feeling of accomplishment that I felt when our mechanized creation could finally drive and perform tasks is unrivaled. Through engineering, I feel like I am doing something constructive with my knowledge. Through FIRST, I discovered the engineer/programmer within me. I will always be grateful for the program and thankful to its founder, Dean Kamen, because the program has helped me to find a career that I enjoy, and I can see myself pursuing for the rest of my life.

The Jungle 2 Essay Example For Students

The Jungle 2 Essay Sinclair’s book ,The Jungle probably had to do the most with the fact that he himself was a Socialist. He was brought up in Baltimore, and his family was considerately poor. His father was not very successful at his job and for this reason it seems good to believe he became a Socialist because in communist countries it is said that all people are treated equal. An opposite of this book would be â€Å"Animal Farm†, which Sinclair has probably never read. This other novel shows the bad sides of Socialism and it ends with the rules saying, â€Å"All animals are considered equal, but some are more equal than others†. We will write a custom essay on The Jungle 2 specifically for you for only $16.38 $13.9/page Order now In this book it shows that a hard worker is not rewarded and is only disposed of once he becomes a burden. The life of Sinclair and his book is reflected upon only because he uses his opinions in the book. In his book, he made a financial breakthrough and had his first successful novel. Sinclair has written many books dealing with the problems of capitalism and the solutions of communism which is not fair because he writes nothing good of capitalism and it’s benefits. He also wrote other books on his wisdom he had gained and relegion. He frequently tried for office but never succeeded. His publications were originally made mostly by publishing them himself. The story itself takes place in Chicago with a group of immigrants. They come to the U.S. and discover it’s a cruel, harsh world. First, though, this group goes through a series of trials. The first is a marr iage which costs much money, and the second is a death. After this, comes a house which is sold to the one couple for three times the value of the house. It’s at this time that the parents and other groups move into this house. One character goes into a meat packing business where he learns of unsanitary conditions. The second is a musician which is currently down on his luck and his wife goes out to work. After a while the first character breaks his arm and loses time at work and is then not received back. He learns at this point when you are new, they will accept you, but once injured they throw out the crippled. At this point this character talks to a Socialist and begins to travel to meetings. But first he returns to his job. And at the point of return he becomes a manager. After his first Socialist rally, he listens mainly to two people, one a ex-professor whose has become a philosopher and the other who is currently an evangelist who has become a traveler.

Underground Railroad essays

Underground Railroad essays Throughout the United States, free Blacks were treated as social lived in the North or the South, and they were denied legal and political whites. In addition, public facilities such as hotels, bathrooms, and separated by the concept of "de jure" segregation, or segregation by law. rebel, Nat Turner led some eighty-plus slaves to a revolt in Virginia, and terrified slave owners throughout the South. Social and political controls became tighter, and the beatings and lynching of attempted slave uprisings throughout the mid 1800's in the South. Of course, racism was ubiquitous in the U.S. at the time, not merely fact, even after the progressive abolition movements of the 1830's, free only vote in four New England states, and with the exception of couldn't testify anywhere in court cases that involved whites. They were passports and even denied citizenship after the landmark 1857 U.S. Supreme when Dred Scott tried to claim legal ownership of himself. Even free had to carry certificates of manumission in order to prove to white had been indeed granted freedom. Consequently, free Blacks in the South identified with the travails of slaves, and some forged a bond that would the Civil War and the ultimate abolition of all slave institutions. In the 1830's, Black newspapers such as the "Freedman's Journal" and Star, founded by Frederick Douglass (in 1847) gave Black writers a chance slavery, advocate resistance, and voice their movement for liberation. As States gained new territories out west, slavery came to the forefront of ...

Use of Promissory Estoppel in Business Contracts Essay

Use of Promissory Estoppel in Business Contracts - Essay Example Promissory Estoppels are great ways to avoid injustices in the cases were normal considerations cannot be provided. However Promissory Estoppel has been full of contradictions since they were first mentioned in Section 90 of Restatement of Contracts. They have invoked varied emotions such as they marked the death of contracts or that contract cases will now be decided simply as torts. Promissory Estoppel is still a work in progress. Although Section 90 and 139 which are the basis of promissory Estoppel are brief but the various court cases and judgements have given new meanings to these two sections. Promissory Estoppels is a way to enforce a contract without any consideration (Farber & Matheson, 1985). A normal contract consists of three main components – an offer being made, the offer being accepted and a consideration being given for the offer (Klass, 2010). As an example let us suppose that company A signs a contract with company B to supply 50 tons of rice per month for $50/ton for 5 years. However if the grain prices fall during the contract period and B wants to renegotiate the price to $40/ton then under the normal contract law this can be done in 2 ways – either by giving a consideration such as agreeing to pay for the transportation costs or agreeing to buy more quantity and by annulling the contract and signing a new contract with new terms. However Promissory Estoppels provides an alternate way of doing it without any consideration or annulment. Promissory Estoppels comes into effect when one of the parties has made a promise, the other party has relied on it substantially and when not enforcing a promise will lead to gross injustice to one of the parties. Thus the three main concepts of Promissory Estoppel are a clear and definite promise, substantial reliance on that promise and miscarriage of justice if promise is broken. The origin of the modern concept of Promissory Estoppels can be found in the case of Central London Property Trust Ltd vs. High Tree House Ltd (Farber & Matheson, 1985). The case was regarding raising the rent of a group of flats after the end of the Second World War. The landlord had made a promise that he would take reduced rent from the tenants during the course of the war. However when the war ended in 1945, he wanted the original rent to be restores. In this case the Judge Denning laid down the principals of promissory estoppels by saying that a promise which is intended to be binding is binding as far as it terms apply correctly. This paper discusses the concept of promissory estoppels as applied in USA; the cases of business contracts where relief can be accepted under promissory estoppels and where the claim for relief is likely to be rejected by courts. Bargain Theory of Consideration A contract is a binding agreement between two parties and is the basis for any business transaction between the two parties. Contracts are the heart and soul of all businesses. Some of the contracts are written whereas other may be simply oral or trust based. Before the concept of promissory estoppels was discovered, contracts were based solely on the bargain theory of consideration (Feinman, 1984).According to this theory; a promise is enforceable only if it is supported by a consideration which has been sought for or bargained for by the promisor in exchange for the promise made by him . The Bargain theory also requires mutual consent of the offer which means that a clear offer must be made and accepted by the other party for a contract to be enforceable. In the case of New Zealand Shipping co. Ltd vs. AM Satterthwaite & co Ltd; Lord Wilberforce has clearly stated that offer, acceptance and consideration are requirements for a contract to be valid. These three factors must also be accompanied with no mistake, misrepresentation and duress which can affect the

Explain your personal and career goals and offer an explanation as to Statement

Explain your and career goals and offer an explanation as to why you should be admitted to AUD - Personal Statement Example Once I finish my undergraduate degree, I would do masters either in the field of Law or Political Philosophy. My career goal is to represent my country as an International Relations Officer (IRO). Getting a job in United Nations is my dream, which I want to fulfill. I want to understand political, cultural and economic issues of foreign countries, as it is essential for getting a job in a foreign country as an International Relations Officer. I want to pursue my degree from American University in Dubai because of its high repute. It is due to the highly qualified teachers of AUD, that I feel satisfied while thinking of getting admission in its undergraduate program. I believe that AUD can help me achieve my educational and career goals by providing excellent education and practical learning environment to

The Importance Of Classroom Technology

The Importance Of Classroom Technology The literature review will discuss the importance of technology use in classroom and its effect on the learning and teaching process. The Influence of technology has its outcome on the development of second language acquisition. Therefore, student responsiveness of learning a second language is clear in a thrived technological classroom. There is different articles such as (ARSLAN, 2008, Bridget Dalton, 2011, Iacob, 2009, Ilknur ISTIFIC, 2011, Iran Dolati, 2012, Sasiwan Potcharapanpong, 2010) would analyzes the correlation between technology environment and language learning and the teacher role in enhancing technology skills. The report will shed light on the transition point of learning English as second language for elementary students with the integration of technology tools and the different use of it to improve the teaching and learning methods. The Influence of adapting technology has on the development of second language acquisition, especially in an Arabic environment. The n ext five literature reviews will support the importance of integrating technology in teaching. Literature Review The first article which is a study of The Effectiveness of Computer Assisted Classes for English as a Second Language (Iacob, 2009), has been emphasizing the necessity of learning English assisted by technology. The article focused on the use of CALL which emphasizes on the use of technology in teaching English in elementary schools also, the methodology of the study that covered two groups of eight years children. The first group was assigned to use computer in classroom and at their home for about two times a week, while the other one has been taught with the assisted computer at classroom without using it at home. The final result of the study shows the impact of teaching and learning English with using computers, which shows an impressive recognition in learning English in their answer responses. Next paper underlined the different use of technology, like The eVoc Strategies: 10 Ways to Use Technology to Build Vocabulary (Bridget Dalton, 2011) had shed light on the importance of integrating technology in teaching English vocabulary to improve the students storage of vocabulary. The use of technology tools would grasp the student interest to learn. The purpose of this article is to discuss the ten eVoc strategies that would improve vocabulary learning. The article integrated learning with technology in real life experience through active learning strategies would suggest. The paper is goes through the advantage word reference with visual dictionary which helps students to comprehend what they have learned. Then, the article of An Effective Role of E-Learning Technology for English Language Teaching By Using Meta Communication Actors (Ilknur ISTIFIC, 2011), has highlighted the role of technological program and communication in our life. Teacher has to modify their own technological methodology, especially in teaching a second language. Computer used as a transmission for knowledge into students minds. In furthermore, technology has been used as a tool to develop the cognitive side of the students minds. The article clarified that teacher and students can build a virtual learning environment by using web tools to communicate and think critically. It conclude that web technology enhance learning English as a second language and most of curriculum writers revise their curriculum according to the latest technology development. The discussion in the article of The Perception of English Language Teachers in the Use of Visual Learning Aids (Iran Dolati, 2012), has been focusing on the importance of visual learning aids are becoming more widely used in education and its role in language classroom. The study was happening in Malaysia, in which a second language learner environment and it focused on the use of visual aids technology to learn a second language. The research project shows that teacher who would use visual aids would provide a better learning environment. In addition, it shows the influence of use of visual aids to improve learning and motivate the students. It has been discussed in the Implementing a Holistic Teaching in Modern ELT Classes: Using Technology and Integrating Four Skills (ARSLAN, 2008) the importance of integrating technology to improve student skills. It highlighted the effect of computer assisted classroom to sharpen students learning skills. The research discusses the cognitive approach of teaching English with the use of technology in classroom to address different kinds of intelligences. It also pointed that a holistic teaching intertwined with technology environment in which students control over their learning. The paper discussed the effect of CALL in teaching English for second language learners and shed light on the different researches of using computer in classrooms. Conclusion The result of the different paper confirmed the intertwined relation between technology and teaching second language learners. Computer plays a significant role in teaching a second language in which creates a virtual learning environment that helps them to think critically and solve problem. At the conclusion, we reached to a realization that computer isnà ¢Ã¢â€š ¬Ã¢â€ž ¢t used only in computer labs; it is rather used in a daily pace classroom use. Behaviorists believe that online learning cannot provide the same positive learning results as face-to-face learning. Constructivists use discovery learning and critical learning activities which is done synchronously.

Financial Statement Discussion and Analysis

IPSASB Exposure Draft (ED) 47 March 2012 Comments due: July 31, 2012 Proposed International Public Sector Accounting Standard Financial Statement Discussion and Analysis The International Public Sector Accounting Standards Board (IPSASB) sets International Public Sector Accounting Standards (IPSASs) for use by public sector entities, including national, regional, and local governments, and related governmental agencies. A key part of the IPSASB’s strategy is to converge the IPSASs, to the extent appropriate, with the IFRSs issued by the IASB.The objective of the IPSASB is to serve the public interest by setting high-quality public sector accounting standards and by facilitating the adoption and implementation of these, thereby enhancing the quality and consistency of practice throughout the world and strengthening transparency and accountability of public sector finances. ——————– The structures and processes that support the ope rations of the IPSASB are facilitated by the International Federation of Accountants (IFAC).The mission of the International Federation of Accountants (IFAC) is to serve the public interest by: contributing to the development, adoption and implementation of high-quality international standards and guidance; contributing to the development of strong professional accountancy organizations and accounting firms, and to high-quality practices by professional accountants; promoting the value of professional accountants worldwide; speaking out on public interest issues where the accountancy profession’s expertise is most relevant.International Public Sector Accounting Standards, Exposure Drafts, Consultation Papers, and other IPSASB publications are published by, and copyright of, IFAC. The IPSASB and IFAC do not accept responsibility for loss caused to any person who acts or refrains from acting in reliance on the material in this publication, whether such loss is caused by neglige nce or otherwise. The IPSASB logo, ‘International Public Sector Accounting Standards Board’, ‘IPSASB’, ‘International Public Sector Accounting Standards’ ‘IPSAS’, the IFAC logo, ‘International Federation of Accountants’, and ‘IFAC’ are trademarks and service marks of IFAC.Copyright  © March 2012 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work to achieve maximum exposure and feedback provided that each copy bears the following credit line: â€Å"Copyright  © March 2012 by the International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Permission is granted to make copies of this work to achieve maximum exposure and feedback. † Published by: REQUEST FOR COMMENTSThis Exposure Draft 47, Financial Statement Discussion and Analysis, was developed and approved by the International Public Sector Accounting Standards Board (IPSASB). The proposals in this Exposure Draft may be modified in light of comments received before being issued in final form. Comments are requested by July 31, 2012. Respondents are asked to submit their comments electronically through the IPSASB website, using the â€Å"Submit a Comment† link. Please submit comments in both a PDF and Word file.Also, please note that first-time users must register to use this feature. All comments will be considered a matter of public record and will ultimately be posted on the website. Although IPSASB prefers that comments are submitted via its website, comments can also be sent to Stephenie Fox, IPSASB Technical Director at [email  protected] org. This publication may be downloaded free of charge from the IPSASB website: www. ipsasb. org. The approved text is published in the English language.Objective of the Exposure Draft The objective of this Exposure Draft (ED) is to propose an authoritative Stand ard for the preparation of financial statement discussion and analysis by public sector entities. Guide for Respondents The IPSASB would welcome comments on all of the matters discussed in this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.The Specific Matter for Comments requested for the Exposure Draft are provided below. Specific Matter for Comment 1: Do you agree that the material presented in this Exposure Draft should be developed as an IPSAS, with the same level of authority as the accrual based IPSASs, which applies to all entities that prepare financial statements in accordance with IPSASs? Specific Matter for Comment 2: Do you agree that IPSAS 1 should be amended to clearly indicate that financial statement discussion and analysis is not a component of the financial statements?Specific Matter for Comm ent 3: Is the scope of financial statement discussion and analysis clearly defined so as to distinguish it from other issues being addressed by the IPSASB (e. g. , financial statements, service performance reporting, reporting on the long-term sustainability of public finances)? Specific Matter for Comment 4: Is the required content for financial statement discussion and analysis appropriate? 3 Specific Matter for Comment 5: Do you agree with the transitional provisions?Specific Matter for Comment 6: Is the Implementation Guidance useful to understanding the requirements of the proposed IPSAS? Specific Matter for Comment 7: Is the Illustrative Example a useful way of illustrating the requirements of the proposed IPSAS? 4 IPSAS XX (ED 47)—FINANCIAL STATEMENT DISCUSSION AND ANALYSIS CONTENTS Paragraph Objective †¦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‚¬ ¦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‚¬ ¦ Scope †¦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‚¬ ¦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‚¬ ¦Requirement for Financial Statement Discussion and Analysis †¦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‚¬ ¦. Definition †¦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‚¬ ¦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‚¬ ¦. Qualitative Characteristics †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Structure and Content of Financial Statement Discussion and Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Identification and Responsibility †¦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‚¬ ¦.Compliance with this IPSAS †¦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‚¬ ¦Ã¢â‚¬ ¦. Minimum Required Content †¦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¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Overview of the entity†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Information about the entity’s objectives and strategies †¦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‚¬ ¦ Analysis of the entity’s financial statements †¦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‚¬ ¦.Risks and uncertainties †¦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‚¬ ¦Ã¢â‚¬ ¦.. Transition†¦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‚¬ ¦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‚¬ ¦. Effective Date †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Appendix A: Amendments to Other IPSASs Basis for Conclusions Alternative View Implementation Guidance Illustrative Example 1 2? 5 6–7 8 9 10? 32 11–12 13–14 15? 32 18 19–20 21–26 7–32 33–34 35–36 5 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS International Public Sector Accounting Standard XX (ED 47), Financial Statement Discussion and Analysis is set out in paragraphs 1–36. All the paragraphs have equal authority. IPSAS XX (ED 47) should be read in the context of its object ive, the Basis for Conclusions, and the Preface to International Public Sector Accounting Standards. IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Objective 1. The objective of this Standard is to prescribe the manner in which financial statement discussion and analysis should be prepared and presented. To achieve this objective, this Standard sets out overall considerations for the guidance for its structure, minimum requirements for the content and presentation to allow entities to prepare financial statement discussion and analysis for their specific circumstances to assist users to understand the financial statements. Scope 2.An entity that prepares and presents general purpose financial statements (â€Å"financial statements†) in accordance with IPSAS 1, Presentation of Financial Statements, shall prep are and present financial statement discussion and analysis. Financial statement discussion and analysis shall be prepared for the same reporting entity that prepares and presents financial statements under the accrual basis of accounting. This Standard applies only to financial statement discussion and analysis. It does not apply to other information included in public documents issued in conjunction with the financial statements.This Standard applies to all public sector entities other than Government Business Enterprises. The Preface to International Public Sector Accounting Standards issued by the IPSASB explains that Government Business Enterprises (GBEs) apply IFRSs issued by the IASB. GBEs are defined in IPSAS 1. 3. 4. 5. Requirement for Financial Statement Discussion and Analysis 6. 7. An entity shall issue the financial statement discussion and analysis when it issues financial statements. IPSAS 1 requires financial statements to be prepared at least annually. Some entities may prepare condensed interim financial information.This Standard requires an entity to issue financial discussion and analysis in conjunction with the entity’s annual financial statements. Definition 8. The following term is used in this Standard with the meaning specified: Financial statement discussion and analysis is an explanation of the significant items, transactions, and events presented in an entity’s financial statements and the trends and factors that influenced them. Terms defined in other IPSASs are used in this Standard with the same meaning as in those Standards, and are reproduced in the Glossary of Defined Terms published separately.Qualitative Characteristics 9. Financial statement discussion and analysis shall include information that possesses the qualitative characteristics of general purpose financial reports identified in Appendix A of IPSAS 1. 7 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Structure and Content of Financial Statement Discussion and Analysis 10. Financial statement discussion and analysis shall be consistent with the financial statements, and based on currently-known facts and supportable assumptions.Identification of Financial Statement Discussion and Analysis 11. 12. Financial statement discussion and analysis shall be identified clearly, and distinguished from the financial statements. Separate identification of financial statement discussion and analysis enables users to distinguish: (a) (b) Financial statements prepared and presented under the accrual basis of accounting in accordance with IPSASs; and Other information presented in an annual report or other document that may be useful to users but is not the subject of requirements in IPSASs.Compliance with this IPSAS 13. An entity whose financial statement discussion and analysis complies with this IPSAS shall make an explicit and unreserved statement of such compliance. Financial statement discussion and analysis shall not be described as complying w ith this IPSAS unless it complies with all the requirements of this IPSAS. In some jurisdictions, preparation and presentation of financial statement discussion and analysis is required by legislative, regulatory, or other externally-imposed regulations.Entities are encouraged to disclose information about compliance with those requirements. 14. Minimum Required Content 15. To the extent it does not replicate information in the financial statements, financial statement discussion and analysis shall include, at a minimum: (a) (b) (c) (d) 16. An overview of the entity; Information about the entity’s objectives and strategies; An analysis of the entity’s financial statements, including variances and trends; and Information about the entity’s risks and uncertainties, including its risk management strategy.Financial statement discussion and analysis provides useful information to users for accountability and decision-making purposes. However, some matters may be requ ired to be included in the financial statements by relevant IPSASs that may also be required to be included in financial statement discussion and analysis in accordance with this Standard. In those cases, financial statement discussion and analysis should not merely repeat what is in the financial statements, but it should complement and supplement the financial statement explanations by providing insights and perspectives thereon.Although the specific information contained in an entity’s financial statement discussion and analysis will vary depending on the facts and circumstances specific to the entity, certain essential elements are important to all financial statement discussion and analysis, as discussed below. 17. 8 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Overview of the Entity 18. An overview of the entity helps users to understand the entity and how the environment in which it operates affect an entity’s financial statements. This information is the startin g point in assisting users’ understanding of an entity’s financial statements.Information provided about an entity’s operations in financial statement discussion and analysis may include current information, and changes from the prior year, about: (a) (b) (c) (d) The entity’s mission and vision; The entity’s governance (e. g. , legislative or regulatory structure, management structure); The entity’s relationships with other entities (e. g. , funding arrangements); External trends, events and developments in the legal, regulatory, social, political, and macro-economic environment specific to the entity, which have or may have a material impact on the entity’s financial position and financial performance (e. . , the impact of a regional or international financial crisis on employment, the tax base, or interest rates in the jurisdiction); and The entity’s main operations, including service delivery methods (e. g. , outsourcing, se rvice concession arrangements) and significant changes in them. (e) Information about the Entity’s Objectives and Strategies 19. Financial statement discussion and analysis should discuss the entity’s objectives and strategies in a way that enables users of the financial statements to understand the entity’s priorities and to identify the resources that must be managed to achieve its objectives.Financial statement discussion and analysis should also explain how the achievement of the entity’s financial objectives (e. g. , debt reduction strategy) will be measured. Financial statement discussion and analysis should discuss significant changes in an entity’s objectives and strategies from the previous period or periods. 20. Analysis of the Entity’s Financial Statements 21. Financial statement discussion and analysis should describe the significant events and activities that have affected the financial statements, without simply reiterating the information presented in those financial statements.A brief discussion of the purpose of, and information provided by, each component of the financial statements set out in IPSAS1, and their interrelationships should also be provided. In addition, there should be a discussion of significant commitments, contingencies, and events occurring after the reporting date. If financial performance measures that are not required or defined by IPSASs are included within financial statement discussion and analysis, those measures should be defined and explained, including an explanation of the relevance of the measure to users.When financial performance measures are derived or drawn from the financial statements, those measures should be reconciled to measures presented in the financial statements that have been prepared in accordance with IPSASs. In addition, narrative explanations of such illustrations should be provided if necessary to accurately and completely present the information. Comp arative information should be included in financial statement discussion and analysis when it is relevant to an understanding of the current period’s financial statements. 9 22. 23. FINANCIAL STATEMENT DISCUSSION AND ANALYSIS 4. Financial statements can have a predictive or prospective role. This Standard does not require the entity to disclose forward-looking information, such as forecasts or projections. However, financial statement discussion and analysis should explain significant changes and trends in an entity’s financial position and financial performance. An analysis of trends includes those financial statement items that are important and significant to gaining a better understanding of an entity’s financial position and performance and changes in financial position and performance over a period of time.Identification of the main events, trends, and factors influencing the current reporting period may provide information about the entity’s intend ed actions in relation to such events, trends, and factors because the party responsible for the preparation of the entity’s financial statement discussion and analysis possesses informed expectations regarding the entity’s future operations based on its detailed knowledge of the entity’s current operations.To the extent such information is not included in the financial statements, financial statement discussion and analysis should include information about significant positive and negative variances between: (a) (b) Actual results and the budget; and The prior year and current year financial statements, by explaining significant changes and highlighting trends. 25. 26. Risks and Uncertainties 27. Information about the entity’s risks and uncertainties helps users to evaluate the impact of risks in the current period (e. . , contingent liabilities disclosed in the financial statements) as well as expected outcomes. Information provided may include its main exposures to risk and changes in those risks, its opportunities, along with its policies and strategies for mitigating the risks and capitalizing on opportunities. It may also include the entity’s evaluation of the effectiveness of its risk management strategies.It is noted, however, that these need to be fact-based and take into account currently-known conditions. In addition, underlying assumptions need to be disclosed. Information about the entity’s risks and uncertainties may include a discussion of such matters as a summary of the entity’s investment policy and other means of managing its risks, insurance coverage, and other controls intended to safeguard the entity’s assets.It may also include the relevant legislation, regulation or body that sets the risk management policies for the entity (e. g. , when risks are managed at a government-wide level). A discussion of how the entity’s manages its risks helps users obtain a complete picture of the entity’s exposure to risks that directly affect financial statement items and disclosures, which allows them to evaluate the entity’s financial position and financial performance.Such disclosure may include the entity’s decision to â€Å"self-insure†, or to mitigate risk by transferring or sharing it, or through insurance. Additional information may be provided about uncertainties such as environmental issues, and significant events after the reporting date (see IPSAS 14, Events After the Reporting Date), which may affect the entity’s future operations (e. g. debt issuance, guarantees issued in relation to a financial crisis, or entering into a new service concession arrangement). Information may also be provided about the entity’s opportunities; however in reporting such information, care must be taken to ensure it is fact-based, and neutral. This means that the assumptions made are based on conditions that exist at the reporting date a nd events that occurred in the current period. 10 28. 29. 30. FINANCIAL STATEMENT DISCUSSION AND ANALYSIS 31.A discussion of the risks the entity faces also provides relevant information to users about exposure or vulnerability to concentrations of risks such as significant loans to particular regions or industries, or dependence on a particular source of revenue. Risks and uncertainties may have a pervasive effect on the financial statements, therefore information pertaining to risks and uncertainties may be reported separately, or in relevant sections throughout the financial statement discussion and analysis. 2. Transition 33. 34. All provisions of this Standard shall be applied from the date of first adoption of this Standard. An entity that has applied the transitional provision in IPSAS 1 to present only current period information in the financial statements to which accrual accounting is first adopted in accordance with IPSASs is permitted to omit the comparative information described in paragraph 23 from its financial statement discussion and analysis for that period.Effective Date 35. An entity shall apply this Standard to financial statement discussion and analysis that relates to annual financial statements covering periods beginning on or after MM DD, YYYY. Earlier application is encouraged. If an entity applies this Standard for a period beginning before MM DD, YYYY, it shall disclose that fact and apply IPSAS 1 and IPSAS 24, Presentation of Budget Information in Financial Statements at the same time. When an entity dopts the accrual basis of accounting as defined by IPSASs for financial reporting purposes subsequent to this effective date, this Standard applies to the entity’s financial statement discussion and analysis covering periods beginning on or after the date of adoption. 36. 11 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Appendix A Amendments to Other IPSASs IPSAS 1, Presentation of Financial Statements A new paragraph is inserted after paragraph 21 as follows: Components of Financial Statements 21.A complete set of financial statements comprises: (a) (b) (c) (d) (e) A statement of financial position; A statement of financial performance; A statement of changes in net assets/equity; A cash flow statement; When the entity makes publicly available its approved budget, a comparison of budget and actual amounts either as a separate additional financial statement or as a budget column in the financial statements; and Notes, comprising a summary of significant accounting policies and other explanatory notes. (f) 21A. Financial statement discussion and analysis is not a component of the financial statements.IPSAS XX (ED 47), Financial Statement Discussion and Analysis requires financial statement discussion and analysis to be presented in conjunction with its financial statements. A new paragraph is inserted after paragraph 24 as follows: 24. Public sector entities are typically subject to budgetary limits in the f orm of appropriations or budget authorizations (or equivalent), which may be given effect through authorizing legislation. General purpose financial reporting by public sector entities may provide information on whether resources were obtained and used in accordance with the legally adopted budget.Entities that make publicly available their approved budget(s) are required to comply with the requirements of IPSAS 24, Presentation of Budget Information in Financial Statements. For other entities, where the financial statements and the budget are on the same basis of accounting, this Standard encourages the inclusion in the financial statements of a comparison with the budgeted amounts for the reporting period. Reporting against budget(s) for these entities may be presented in various different ways, including: ?The use of a columnar format for the financial statements, with separate columns for budgeted amounts and actual amounts. A column showing any variances from the budget or appr opriation may also be presented for completeness; and Disclosure that the budgeted amounts have not been exceeded. If any budgeted amounts or appropriations have been exceeded, or expenses incurred without appropriation or other form of authority, then details may be disclosed by way of footnote to the relevant item in the financial statements. ? 12 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS 4A. When an entity elects, under IPSAS 24, to explain, in financial statement discussion and analysis rather than by way of note disclosure, material differences between the budgeted and actual amounts identified in paragraph 24, it applies the guidance in IPSAS XX (ED 47). Paragraphs 27 and 28 are amended as follows: Overall Considerations Fair Presentation and Compliance with IPSASs 27. Financial statements shall present fairly the financial position, financial performance, and cash flows of an entity. Fair presentation of the financial statements requires the aithful representation of the ef fects of transactions, other events, and conditions in accordance with the definitions and recognition criteria for assets, liabilities, revenue, and expenses set out in IPSASs applicable to the financial statements. The application of these IPSASs, with additional disclosures when necessary, is presumed to result in financial statements that achieve a fair presentation. An entity whose financial statements comply with IPSASs applicable to the financial statements shall make an explicit and unreserved statement of such compliance in the notes.Financial statements shall not be described as complying with IPSASs unless they comply with all the requirements of those IPSASs. 28. Paragraph 62 is amended as follows: Identification of the Financial Statements †¦ 62. IPSASs apply to financial statements and financial statement discussion and analysis, and not to other information presented in an annual report or other document. Therefore, it is important that users can distinguish info rmation that is prepared using IPSASs from other information that may be useful to users but is not the subject of those requirements.A new paragraph is inserted after paragraph 153D as follows: Effective Date 153E. Paragraphs 21A and 24A were inserted and paragraphs 27, 28 and 62 were amended by IPSAS XX (ED 47) issued in Month 201X. An entity shall apply those amendments for annual financial statements covering periods beginning on or after Month DD, 201X. Earlier application is encouraged. If an entity applies the amendments for a period beginning before Month DD, 201X, it shall disclose that fact and at the same time apply IPSAS XX (ED 47) and the amendments to paragraphs 14, 19 and 54A of IPSAS 24. 3 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS IPSAS 24 Presentation of Budget Information in Financial Statements Paragraph 14 is amended as follows: Presentation of a Comparison of Budget and Actual Amounts 14. Subject to the requirements of paragraph 21, an entity shall present a c omparison of the budget amounts for which it is held publicly accountable and actual amounts, either as a separate additional financial statement or as additional budget columns in the financial statements currently presented in accordance with IPSASs.The comparison of budget and actual amounts shall present separately for each level of legislative oversight: (a) (b) (c) The original and final budget amounts; The actual amounts on a comparable basis; and By way of note disclosure, an explanation of material differences between the budget for which the entity is held publicly accountable and actual amounts, unless such explanation is included in either the financial statement discussion and analysis or other public documents issued in conjunction with the financial statements, and a cross reference to those documents is made in the notes.Paragraph 19 is amended as follows: 19. Management IPSAS XX (ED 47), Financial Statement Discussion and Analysis requires presentation of a financia l statement discussion and analysis, operations review, or other public reports that provides commentary on the performance and achievements of the entity during the reporting period,. It can include including explanations of any material differences from budget amounts,. Alternatively, this explanation could be included in other public documents are often issued in conjunction with the financial statements.In accordance with paragraph 14(c) of this Standard, explanation of material differences between actual and budget amounts will be included in notes to the financial statements, unless (a) included in the financial statement discussion and analysis or other public reports or documents issued in conjunction with the financial statements, and (b) the notes to the financial statements identify the reports or documents in which the explanation can be found. When an entity presents the actual-to-budget comparison in financial statement discussion and analysis, it applies the guidance in IPSAS XX (ED 47).A new paragraph is inserted after paragraph 54 as follows: Effective Date 54A. Paragraphs 14 and 19 were amended by IPSAS XX (ED 47) issued in Month 201X. An entity shall apply those amendments for annual financial statements covering periods beginning on or after Month DD, 201X. Earlier application is encouraged. If an entity applies the amendments for a period beginning before Month DD, 201X, it shall disclose that fact and at the same time apply IPSAS XX (ED 47) and the amendments to paragraphs 21A, 24A, 27, 28, 62 and 153E of IPSAS 1. 14 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Basis for ConclusionsThis Basis for Conclusions accompanies, but is not part of, IPSAS XX (ED 47). Scope and Authority BC1. The IPSASB approved a project in March 2008 to address â€Å"narrative reporting†. In developing this Standard, the IPSASB clarified that the scope of the project is to address only those reports that provide discussion and analysis specifically pertaini ng to an entity’s general purpose financial statements (â€Å"financial statements†) as set out in IPSAS 1, and not broader types of reports that may be considered general purpose financial reports as envisaged in the IPSASB’s Conceptual Framework.BC2. In undertaking this project, the IPSASB considered, under its Criteria for Modifying IASB Documents, whether to develop guidance that was converged with Management Commentary, an IFRS Practice Statement. The IPSASB did not consider this approach to be appropriate because: (a) The users identified in the Practice Statement are investors. IPSAS 1, Presentation of Financial Statements, identifies different users, which results in different information needs related to the financial statements.Additionally, in the private sector there may be a strong influence from the securities exchanges and their regulators which help ensure and reinforce the information needs of the investors. In the public sector there may not be a comparable regulator, which participates in the process of standardizing financial statement discussion and analysis for a jurisdiction, and therefore reliance on the private sector guidance may result in loss of accountability in the public sector. (b) BC3.Financial statement discussion and analysis is intended to address similar matters to reports that may be termed â€Å"management discussion and analysis† and â€Å"management commentary† in various jurisdictions. However, the IPSASB did not consider those terms to accurately describe the nature of the report in relation to the financial statements. The IPSASB decided it was important to link financial statement discussion and analysis to the financial statements because the financial statement discussion and analysis is intended to explain the financial statements, and not to stand alone.The IPSASB considers the term â€Å"financial statement discussion and analysis† clearly defines the scope of applicabi lity of this Standard and its close linkage to the financial statements. BC4. The IPSASB considered whether public sector entities that prepare and present financial statements in accordance with International Public Sector Accounting Standards (IPSAS): (a) (b) Should be required to prepare financial statement discussion and analysis; and If so, whether financial statement discussion and analysis should be included as an integral part of the general purpose financial statements.BC5. The IPSASB considers that financial statement discussion and analysis provides additional information necessary to meet the objectives of financial statements. The IPSASB concluded that all entities that prepare and present their financial statements in accordance with IPSASs should be required to prepare financial statement discussion and analysis in accordance with this IPSAS, which has the same level of authority as accrual based IPSASs. 15 FINANCIAL STATEMENT DISCUSSION AND ANALYSISBC6. The IPSASB de cided it was important to develop a standard that provided principles for financial statement discussion and analysis, while allowing reporting on specific information most relevant to an entity. Accordingly, this Standard has been developed from a principlesbased perspective that can be applied to all public sector entities. In addition, entities are encouraged to prepare financial statement discussion and analysis that meets their specific circumstances.The IPSASB considered whether a requirement to issue financial statement discussion and analysis when an entity issues financial statements prepared in accordance with IPSASs would be an impediment to the adoption of IPSASs. The IPSASB considered that the users of financial statements in such jurisdictions may even have a greater need for the benefit of financial statement discussion and analysis to help explain the financial statements.The IPSASB considers that in all cases, the benefits of providing financial statement discussion and analysis would outweigh the costs of preparing it, as the information is used in the preparation of the financial statements, and tailored to the specific circumstances of the entity. The IPSASB therefore concluded that financial statement discussion and analysis should be prepared by all entities that prepare their financial statements in accordance with IPSASs. IPSAS 1 defines the scope of the financial statements.The IPSASB does not consider financial statement discussion and analysis to be part of the financial statements prepared in accordance with IPSASs despite its close link to the financial statements. The IPSASB did not, therefore, amend IPSAS 1 to include financial statement discussion and analysis as an integral part of the financial statements. Nevertheless, the IPSASB has clarified the close link between the financial statements and financial statement discussion and analysis. BC7. BC8. BC9. BC10.The IPSASB noted the concern that, if this Standard were an IPSAS, i t could still be considered part of the financial statements and there could be confusion as to whether it would be subject to the same audit requirements as the financial statements. This could cause difficulties in some jurisdictions if the inclusion of financial statement discussion and analysis resulted in a qualified audit report on the financial statements. While the audit of financial statement discussion and analysis is desirable, the IPSASB considers that imposing an audit requirement on such information exceeds its mandate.However, it is noted that an audit of financial statements would not automatically require audited financial statement discussion and analysis. The term â€Å"financial statements† ordinarily refers to a complete set of financial statements as determined by the requirements of the applicable financial reporting framework. The financial reporting framework for public sector entities is described in IPSAS 1, and does not include financial statement discussion and analysis. BC11.To date, IPSASs have addressed only matters that pertain to the content of the financial statements themselves. The IPSASB considered whether it would be appropriate to allow for a new type of pronouncement that had equivalent authoritative status to the IPSASs. The IPSASB is of the view that introducing a new type of pronouncement would be confusing to its constituents. Accordingly, the IPSASB has decided that an International Public Sector Accounting Standard (IPSAS) is the appropriate type of pronouncement to apply to the financial statement discussion and analysis. 6 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Qualitative Characteristics BC12. The IPSASB also concluded that the information in financial statement discussion and analysis should possess the qualitative characteristics and constraints in IPSAS 1. Accordingly, IPSAS XX (ED 47) contains requirements that financial statement discussion and analysis contain information that is consistent wi th those qualitative characteristics. Structure and Content of Financial Statement Discussion and Analysis BC13.Paragraph 21 of IPSAS 1 states that a complete set of financial statements comprises: (a) (b) (c) (d) (e) A statement of financial position; A statement of financial performance; A statement of changes in net assets/equity; A cash flow statement; When the entity makes publicly available its approved budget, a comparison of budget and actual amounts either as a separate additional financial statement or as a budget column in the financial statements; and Notes, comprising a summary of significant accounting policies and other explanatory notes.The IPSASB noted that in some of the minimum required content in paragraph 15 of IPSAS XX (ED 47) may also be required under other IPSASs for financial statements. IPSAS XX (ED 47) therefore requires financial statement discussion and analysis include significant items, transactions, and events that are presented in an entity’s financial statements to the extent it does not replicate information in the financial statements. BC14.The IPSASB noted that the content and format of presentation of financial statement discussion and analysis should be determined by the entity, in a way that best reflects its circumstances, noting that the specific information contained in an entity’s financial statement discussion and analysis will vary depending on the facts and circumstances specific to the entity. The IPSASB wishes to avoid a checklist approach that may result in an entity reporting less relevant information. Accordingly, some flexibility is provided in the content and format.However, the Standard contains certain essential required content that is important to all financial statement discussion and analysis. BC15. In determining the matters that should be required in financial statement discussion and analysis, the IPSASB reviewed and compared existing national standards, guidance, and regulatory requ irements for financial statement discussion and analysis (or its equivalent) in the public sector. The existing approaches, identified in conducting the research, were used to help form the basis for the required content of financial statement discussion and analysis.BC16. In some cases an IPSAS permits certain information to be included in separate reports (e. g. , financial statement discussion and analysis) rather than in the financial statements. The IPSASB did not consider it necessary to duplicate the financial statement disclosure in the financial statement discussion and analysis and has accordingly provided guidance to that effect. (f) 17 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Forward-Looking Information BC17. This Standard does not require the entity to disclose forward-looking information, such as forecasts or projections.However, the IPSASB noted that information in financial statements also has predictive ability about the entity’s operations, and that finan cial statement discussion and analysis could enhance that ability. For example, information about an entity’s risk management policies, and trend analyses of significant financial statement items, may assist users in assessing the extent to which resources will be available to support future service delivery objectives and the amounts and timing of future cash flows necessary to service and repay existing claims to the entity’s resources.The IPSASB has thus provided guidance on how such information could be included in financial statement discussion and analysis. Transitional Provisions BC18. The IPSASB determined that a transitional provision was required to address the case when an entity has used the exemption under IPSAS 1 to not include comparative information in respect of the financial statements to which accrual accounting is first adopted in accordance with IPSASs.This Standard states that comparative information should be included in financial statement discu ssion and analysis when it is relevant to an understanding of the current period’s financial statements. However, where an entity has applied the transitional provision in IPSAS 1 it is unlikely to have comparative information and thus it would not be possible to provide such comparative information. 18 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Alternative View of Mr. Thomas Muller-Marques Berger AV1. This member is of the view that ED 47 should require entities to disclose forward-looking information, such as forecasts or projections.As outlined in the IPSASB’s Conceptual Framework Exposure Draft 1, the objectives of financial reporting by public sector entities are to provide information about the entity that is useful to users of GPFRs for accountability purposes and for decision-making purposes. AV2. In the view of this member, the decision not to require entities to disclose forward-looking information does not completely fulfill user needs as the objective of d ecision-making is not sufficiently addressed. 19 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Implementation GuidanceThis guidance accompanies, but is not part of, IPSAS XX (ED 47). IG1. The purpose of this Implementation Guidance is to illustrate certain aspects of the requirements of IPSAS XX (ED 47). IG2. This Implementation Guidance is divided into three sections as follows: (a) (b) (c) Section A: Qualitative Characteristics of General Purpose Financial Reports— Applicability to Financial Statement Discussion and Analysis; Section B: Examples of Information about the Entity’s Financial Statements; and Section C: Examples of Information about Variances and Trends.Section A: Qualitative Characteristics of General Purpose Financial Reports— Applicability to Financial Statement Discussion and Analysis A. IG1. Financial statement discussion and analysis is intended to explain the significant items, transactions, and events presented in an entity’s financial statements and the trends and factors that influenced the financial statements to assist users to understand the financial statements. It should, therefore, possess the same qualitative characteristics as for financial statements described in IPSAS 1, namely: (a) (b) (c) (d) Understandability; Relevance; Reliability; and Comparability.A. IG2. Financial statement discussion and analysis should aim to achieve a balance between the qualitative characteristics to meet the objectives of providing the information. In some cases, depending on the circumstances of the entity, the relative importance of a particular qualitative characteristic may be greater than in others. A. IG3. Application of the qualitative characteristics to financial statement discussion and analysis is set out in paragraphs A. IG. 4? A. IG. 20. Understandability A. IG4.Information provided in financial statement discussion and analysis should be clear and concise to explain and interpret the complex transactions, eve nts, and conditions presented in the financial statements in a readable and simple manner. Financial statement discussion and analysis is understandable when it uses descriptions that are not overly technical, does not provide excessive detail, and clearly describes those transactions, events, and conditions. Relevance A. IG5. The matters that are relevant to an entity are also specific to that entity.Financial statement discussion and analysis reflects detailed knowledge of the items, transactions, and events, presented in the entity’s financial statements and of the policies that govern the entity’s 20 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS operations. This means that financial statement discussion and analysis may not include some matters that are material to the components of the financial statements set out in IPSAS 1, or it may include some matters that are not material to the financial statements. A. IG6.Financial statement discussion and analysis needs to be clear and concise to be useful, therefore the most important, or material, matters must be selected to be included, descriptions should be non-technical, and an appropriate but not excessive level of detail should be provided. Inclusion of information about immaterial items could make the more important information difficult to find. A. IG7. Generic or â€Å"boilerplate† information that does not relate to the specific operations, practices and circumstances of the entity is unlikely to be relevant and should not be included in financial statement discussion and analysis.When practicable, duplication of the disclosures made in the notes to its financial statements should be avoided. Financial statement discussion and analysis that recites financial statement information without analysis or explanations, or presents discussions that do not provide insight into the entity’s past performance is unlikely to provide information that is relevant to users of the financial statements, and may create an obstacle for users to identify and understand the most significant matters the entity faces.For example, commentary on the economy that relates specifically to the entity’s financial statements and expected impacts on the entity would be relevant information for users. A. IG8. When dealing with qualitative or forward-looking information (e. g. , expectations about financial results in the future), it is not generally possible to specify a uniform quantitative threshold above which a particular type of information becomes material. A. IG9. Financial statement discussion and analysis provides additional perspectives and insights about the financial statements, which increases the relevance of the information. Reliability A. IG10.Information presented in financial statement discussion and analysis should be: (a) (b) (c) (d) Based on, and consistent with, the underlying financial statements; Neutral in discussing both positive and negative facts and views; Based on currently-known facts, decisions, or conditions; and Based on verifiable and supportable assumptions. A. IG11. It is important that information presented in the financial statement discussion and analysis is supported by information in the financial statements, and does not go beyond or contradict the information presented in the financial statements. A. IG12. Information that excludes certain facts (e. . , negative) is incomplete and thus could be not neutral. In cases when financial statement discussion and analysis presents ratios, tables, or charts, they should not distort the information in the financial statements by, for example, using a scale that exaggerates a positive or negative trend. A. IG13. Financial statement discussion and analysis should contain information specific to the entity and related to that reporting period. While the information provided in financial statement discussion and analysis may reflect information outside of the financial stateme nts (e. g. , 21 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS conomic indicators such as changes in the tax base or the employment base), that information should be related to the reporting period and should be from a reliable source. A. IG14. The underlying assumptions and methodologies (including formulae) used to determine ratios and to prepare tables and charts included in financial statement discussion and analysis should be disclosed (e. g. , those used in analyses of trends and variances). In addition, the methodologies adopted in compiling the information, and the factors and circumstances that support the discussion and analyses, need to be transparent.Disclosure of this information permits users to assess the reliability of the information provided. A. IG15. Assumptions should be mutually compatible. Assumptions are mutually compatible when they reflect economic relationships in the jurisdiction (e. g. , interest rates, employment rates, GDP). For example, all assumptions th at depend on the tax base for a given future period would assume the same tax base level in that period. A. IG16. Financial statement discussion and analysis should clearly describe the basis for how the information is reported, including the unit of measurement.For example, in cases when financial statement discussion and analysis presents ratios, tables, or charts, they should not distort the information in the financial statements by, for example, using a scale that exaggerates a positive or negative trend. Thus, when financial statement discussion and analysis contains charts or graphs showing trends, disclosure of the unit of measurement is necessary to ensure such information can be properly interpreted. When such information is presented, the scale of such illustrations should be on a basis that faithfully represents the relationships of the items being analyzed.A. IG17. In some cases it may not be possible to verify the accuracy of all qualitative and quantitative explanatio ns of such information until a future period, if at all. For example, if the entity’s strategy and risk management are described in financial statement discussion and analysis, such information would be less verifiable than, for example, a ratio calculated from information provided in the financial statements. Comparability A. IG18. Information in financial statement discussion and analysis should be comparable. Comparability pplies to information related to different entities and to the entity over periods of time. A. IG19. Comparability is enhanced when financial statement discussion and analysis is presented on a basis consistent with that in prior years and when the same principles and practices are used for each period for such items as determining ratios and preparation of tables and charts included in financial statement discussion and analysis. In addition, disclosure of those principles and practices, including underlying assumptions and formulae, is useful in interp reting the analyses.Changes to the principles and practices used to prepare financial statement discussion and analysis from one period to the next should be disclosed. A. IG20. Enhancing the inter-period comparability of information assists users in making and evaluating decisions, especially by allowing the assessment of trends in financial information for predictive purposes. In some circumstances, it is impracticable to reclassify comparative information for a particular prior period to achieve comparability with the current period.For example, data may not have been collected in the prior period(s) in a way that allows reclassification, and it may not be practicable to recreate the information. 22 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS Section B: Examples of Information about the Entity’s Financial Statements This Implementation Guidance includes guidance on how an entity may prepare and present financial statement discussion and analysis that includes information a bout all significant items, transactions, and events presented in the financial statements that are most relevant to enhancing users’ understanding of the financial statements. Financial Position B.IG1. Information about the financial position will help users to identify the resources of the entity that can be used to provide particular services in future periods and claims to those resources at the reporting date. This will provide information useful as input to assessments of such matters as: ? ? ? The extent to which the entity has discharged its responsibilities for safekeeping and managing its resources; The extent to which resources are available to support future service delivery objectives; and The amounts and timing of future cash flows necessary to service and repay existing claims to the entity’s resources.Financial Assets B. IG2. Financial statement discussion and analysis may include the following information pertaining to an entity’s financial asse ts: (a) (b) (c) (d) (e) (f) (g) Changes in financial assets to illustrate volatility in the sources of funds; Provisions for loan losses; The rates of return on investment; Composition of investments; A government's investment in GBEs as a percentage of the total financial assets; Taxes receivable to total tax revenues; and Restricted and designated assets set aside for specific purposes. Property, Plant, and Equipment B.IG3. Financial statement discussion and analysis may include the following information pertaining to an entity’s property, plant, and equipment: (a) An analysis of required maintenance, including future expenditure requirements for maintenance and replacement, to allow users to make informed decisions regarding the ability of the capital assets to sustain and provide services in the future; An analysis of the change in the net book value of property, plant, and equipment by major class and an explanation of what the net book value and changes in it mean (e. g . a description of why the net book value has increased or decreased is useful in understanding asset replacement and usage); (b) 23 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS (c) (d) The average age and average useful life for each category of property, plant, and equipment; and An assessment of the assets’ physical condition carried out by a technical expert in such assessments. B. IG4. Asset management systems may contain information about an asset's physical condition, but the absence of an asset management system does not necessarily preclude reporting on the physical condition.B. IG5. Asset condition assessment methodologies and frequency of assessments can be different for major classes of property, plant, and equipment. For example, they could be different for bridges when compared to buildings. B. IG6. It may not be possible to complete a physical examination of all items of property, plant, and equipment. However, the physical condition could be estimated based on a combination of factors including, for example, age, construction materials and methods, breaks per kilometer, geological, and soil conditions.B. IG7. Financial statement discussion and analysis may provide the average age and either the average remaining useful life or estimated average useful life of property, plant, and equipment in each major class. Information about the average age and the useful life allows users to assess the timing of rehabilitation and replacement expenditures. B. IG8. Financial statement discussion and analysis may contain a description and the quantity of the major components of property, plant, and equipment in each major class of asset.Providing this information gives users an understanding of the nature and extent of the stock of property, plant, and equipment. B. IG9. The quantity could be based on a unit of measurement that represents the common characteristics of the class of property, plant, and equipment being assessed or components thereof (e. g . , lanes or kilometers for roads, kilometers of pipes for sewer for water systems, or the number of water treatment plants). This summary level unit of measure provides users with a reference that is useful in assessing the magnitude of the classes and components of items of property, plant, and equipment.B. IG10. The information required to promote a better understanding of an entity’s property, plant, and equipment explains information in the financial statements. Reporting on the physical condition of property, plant, and equipment assists users when assessing: (a) (b) (c) (d) The effects on service potential of past resource allocation and funding decisions; The trends in the physical condition; The adequacy of existing maintenance, replacement and renewal funding; and The extent of current and future revenues needed to maintain, renew, and replace property, plant, and equipment.Other Assets B. IG11. Financial statement discussion and analysis may include the following i nformation pertaining to an entity’s other assets, to the extent they are material (e. g. , inventories of supplies—see IPSAS 12, Inventories, and prepaid expenses): 24 FINANCIAL STATEMENT DISCUSSION AND ANALYSIS (a) (b) Liabilities The nature, extent and purpose of inventories of supplies (e. g. , maintenance materials, strategic stockpiles, and land/property held for resale); and The nature, extent, purpose, and timing of any prepaid items such as insurance. B. IG12.Financial statement discussion and analysis may include the following information pertaining to an entity’s liabilities: (a) (b) A breakdown of the entity's debt by domestic issues versus foreign issues. A description of the entity's debt management policies and strategies, and the general terms and conditions associated with the debt, including whether the entity has complied with any debt covenants. An analysis of the entity's total debt. Specific ratios or indicators may also be useful to highli ght the magnitude of the entity’s debt and the changes in it over time.For example, an analysis of the total debt outstanding at year end to the total liabilities of the entity may be provided. The impact of the debt servicing cost, expressed as public debt charges to revenues, may also be included. An assessment of any unfunded retirement and other employment or post employment benefit liabilities. This may include a discussion related to the timing of when the unfunded liability needs to be provided for. An analysis of revenues that are not earned at the end of the period including the terms and conditions (e. g. , commitments) associated with them.The entity is not entitled to these revenues until it performs specific actions as outlined in the terms and conditions of the related contract or agreement. For example, in the case of service concession arrangements in which the operator is compensated by the entity granting it the right to earn third-party revenues, there may be substantial liabilities of this type. The nature of financial liabilities under service concession arrangements. An analysis of any sinking funds available for the discharge of long-term liabilities. (c) (d) (e) (f) Net Assets/Equity B.IG13. An analysis of net assets/equity provides users with information relevant in assessing the entity's overall financial position, and whether it has improved or deteriorated. Providing significant explanations and a trend analysis related to the net assets/equity provides users with an indication as to whether the entity’s liabilities are growing and allows them to make assessments about whether current levels of taxes or other charges are sufficient to maintain the volume and quality of services currently provided or to undertake any planned enhancements.For example, explanations and a trend analysis related to the assets/equity may indicate to users that while debt is growing, the entity is accumulating resources, such as property, pla nt, and equipment. Financial Performance B. IG14. Information about the financial performance will inform assessments of matters such as whether the entity has acquired resources economically, and used them efficiently and effectively to achieve its service delivery objectives. Information about the costs of service 25FINANCIAL STATEMENT DISCUSSION AND ANALYSIS delivery and the amounts and sources of cost recovery during the reporting period will enable users to determine whether operating costs were recovered from, for example, taxes, user charges, contributions and transfers or were financed by increasing the level of indebtedness of the entity. B. IG15. Any currently-known conditions that have significantly affected revenues or expenses in the current period, as well as those that may impact future evenues or expenses, should be disclosed to assist users in determining trends. Revenues B. IG16. Financial statement discussion and analysis may include the following information pert aining to an entity’s revenues: (a) (b) An overview of total revenues by major source to indicate trends and dependencies on specific sources. Ratios may also be provided to highlight the level of dependence the entity has on particular sources of revenues, for example: (i) (ii) (c) Public-to-public transfers to revenues generated by the entity (e. g. taxes, user fees, licences); and Revenues generated by the entity as a percentage of total revenues. The impact of the of government business