Economic Policies Influenced Or Enforced By Imf On...

This article will look at present economic strategies influenced or enforced by IMF on European countries as a result of the recent bank crisis suggesting that such tactics represent economic dogma and will cause serious problems to the respective economies. It will propose that: 1) such measures are traditionally employed to combat inflation, 2) such methods will stagnate economies, 3) economies require stimulation not repression, 4) public spending has a wealth creation agenda that has been overlooked, 5) governments, influenced by IMF and America, are ignoring this fact, 6) the lessons of the Chinese economy are not being learned, 7) the importance of local government direct wealth stimulation to British economic environment. Since 2009 the British economy has been failing. Although economic recovery recently looked possible, it has continued to falter. At present with the prospect of high energy prices, there is the possibility of inflation, although some commentators still hold that this is unlikely. Nevertheless, there has been a considerable fall in productivity. Stringent Economic Strategies: The present economic strategies, forcefully encouraged by the IMF, are liable to cause long term stagnation. The strategies I suggest are the result of the influence of lumbering economic dogma disdainful of government directed economies. Willfully pursued by the British government, and imposed on the economies of Greece, Ireland, and Portugal these measures rather thanShow MoreRelatedUkraine Case Study1376 Words   |  6 Pagesimf.org). With 189 members within the IMF, countries worldwide strive to ensure financial stability and monetary cooperation is maintained. Recently, due to civil war, political unrest, and government corruption, Ukraine has struggled to maintain economic stability. As result, the IMF has provided much needed assistance to Ukraine to help the country regain stability. By understanding Ukraine’s political instability, analyzing the IMF’s recommended policies for stabilization, and identifying keyRead MoreThe Cost of Westernization784 Words   |à ‚  3 Pagesof the South face very complex economic, governmental, ecologic and social issues. We have spent the quarter discussing and critically analyzing the effects of rapid urbanization throughout developing cities of the South. In my opinion â€Å"westernization† contributes to the destruction of culture and infrastructure within global cities of south. I believe â€Å"westernization† monopolizes economic progress of the poor. The influence of â€Å"western† culture, planning and policy practices lacks a level of sensitivityRead MoreEfforts to Recover from the Greek Economic Crisis Essay889 Words   |  4 PagesIn the prior time to the Greek crisis, the euro was seen as a symbol of success of the European project, but the bankruptcy of the euro to secure economic stability throughout Member States – particularly peripheral countries like Greece – has today become a symbol of EU failure (Woods 2013). After six years of crucial economic recessio n, Greek economy seems to be dead, which sum of real gross domestic product (GDP) has shrunk by more than one quarter since its apex in 2007. Founded on the EurostatRead MoreThe Effects of Westernization Essay example934 Words   |  4 PagesAsia, Africa, and Latin America have all been influenced by the transmission of Western cultural values through direct as well as indirect contact. By means of colonization Asia, Africa and Latin America were particularly affected as Western values were enforced upon the populations by colonial assault. During this era traditional cultural pursuits declined and stagnated in the face of Western conquests. The attitude is much the same now as it was then, â€Å"However disagreeable the â€Å"medicine† mayRead MoreCritically Evaluate the Debates Surrounding the Continuity of Bretton Woods’s Institutions. Which of These Institutions Would You Recommend to Be Discontinued? Justify Your Choice.3727 Words   |  15 Pageschoice. While preparing to rebuild the international economic system after WWII, 730 delegates of the 44 allied nations met in New Hampshire, United States, to form the Bretton Woods agreement. The aim was to set up rules and regulations to stabilize the global monetary system and ensure the free movement of capital goods through a global market. The agreement established two regulatory institutions, firstly the International Monetary Fund (IMF) to control the exchange rates and bridge temporary imbalancesRead MoreThe Debt Crisis Of 2008 Greece Essay2318 Words   |  10 PagesIn 2008 Greece was not influenced by the crisis but later in 2009 the country fell into recession and the financial markets exerted pressure, which made the economy being vulnerable. At the beginning of the sovereign debt crisis, the budget deficit of Greece was erected at 13.6% from 12.7% (Eurostat, Euroindicators, 22/2010, 22 April 2010) and the external debt at 127% of the GDP (Eurostat, Euroindicators, 60/2011, 26 April 2011). In order to to deter a default on its sovereign debts, the governmentRead MoreEssay on Globalisation Is a Euphamism for Neo-Colonialism2290 Words   |  10 Pagescolonial rule did not mark the end of the trend of economic control and exploitation of the developing world (Manzo 2009:267). The cultural, political and economic effects of globalisation upon the developing world resemble that of neo-colonial power – an inequality that is defended by the benevolence of neo-liberalism and egalitarianism of the free market. This essay will focus on the cultural and political international dominance of the west and economic partiality of globalised institutions, referringRead MoreChina Research Paper6220 Words   |  25 Pagesis the world’s most populated country with the population of 1.3 billion people. Since there were so many people in China they had to think about a way to control population so this is where the one-child policy was made.  It officially re stricts married, urban couples to having only one child, while allowing exemptions for several cases, including twins. This policy was introduced in 1978 and initially applied to first-born children from 1979. The policy is enforced at the local level through  fines  thatRead MoreThe End Of World War II And Creation Of The United Nations4715 Words   |  19 Pagesthrough socio-economic decline to expand their economy, joined forces to propagate the global economic growth and strength. It further describes the beneficial relationship of the US and China to international society by their constructive roles and responsibilities. The essay also highlights the different ways in which these two robust economies in respect to their dual agreement have influenced global trades and finance, investment, African development, Asian and American economic expansion. ThisRead MoreBrazil Culture17445 Words   |  70 PagesPATTERNS OF BRAZIL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. A. Social Institutions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1. Historical†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 2. Geographical†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 3. Demographical†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8 4. Political†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 5. Economic†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 6. Religious†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.20 7. Linguistic†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 8. Educational†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦23 9. Aesthetic†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.24 B. Organizational Culture†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1. Work

My, My Grandmother, Jean Griffin - 873 Words

My research garment will be taken from a picture of my Grandmother, Jean Griffin. My grandmother (J.B.Griffin, personal communication, October, 15, 2015) described all the details about this photograph. She said she is pictured at 23 years old walking her 10-month old daughter, Mary Joyce. Jean is my maternal grandmother, and has three boys and four girls. Jean dressed up everywhere she went. Whether she was going to the store or church, she always had makeup, heels, and a nice outfit. My mother (J.G Jackson, personal communication, October 17, 2015) states this picture represents Jean’s daily life. She didn’t have a driver’s license, so she walked everywhere. This picture was taken in San Diego, California, in April, of 1959. My grandparents and their children moved to San Diego so my Grandfather John could do his internship and residency at the Naval Hospital. If observing the photograph carefully enough Jean has s a small baby bump. Jean was 5 months pregnant with her second child James. She is wearing a Maternity jacket and a skirt. The jacket has a bow neck collar with a large bow. The sleeves have ruching with buttons at the hem of the sleeve. The jacket is straight with no defined waist. The structure of the jacket was made for a pregnant woman so it would allow someone to continue to wear it throughout her pregnancy. The skirt hits mid calf and is also a loose straight skirt. Both garments in the ensemble are not form fitting. The ensemble at first looks as if itShow MoreRelatedComparatve Essay on the Fat Black Womans Poems, Sula and Wide Sargasso Sea3043 Words   |  13 PagesThese writers explore both the social roles that confine them and the bodies that represent the confinement. In light of this quotation, compare how the writers explore gender. Wide Sargasso Sea, by Jean Rhys, and Sula by Toni Morrison are both novels that respond to the issues of women that are confined to their social roles. Grace Nichols book, The Fat Black Womans Poems, supports and also contrasts the views of both Rhys and Morrison. All three texts question gender roles and oppressionRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 Pagesto 8 A.M. Otherwise, she would have to come in on Saturday to ï ¬ nish the week’s work. This way I can be home on the weekend to look after my kids,† she says. Others ï ¬ nd the work harder to leave behind at the end of the day. In the cage, Ms. Smith says her husband used to complain because she often woke him in the middle of the night. â€Å"I’d be shufï ¬â€šing my hands in my sleep,† she says, mimicking the motion of opening envelopes. Her cage colleague, Ms. Kesselring, says her ï ¬ ancà © has a different gripe. â€Å"HeRead MoreLibrary Managem ent204752 Words   |  820 PagesPrinciples and Application, Fourth Edition Lois Mai Chan Developing Library and Information Center Collections, Fifth Edition G. Edward Evans and Margaret Zarnosky Saponaro Metadata and Its Impact on Libraries Sheila S. Intner, Susan S. Lazinger, and Jean Weihs Organizing Audiovisual and Electronic Resources for Access: A Cataloging Guide, Second Edition Ingrid Hsieh-Yee Introduction to Cataloging and Classification, Tenth Edition Arlene G. Taylor LIbRaRy and InfoRMaTIon CenTeR ManageMenT Seventh

How to prepare question paper generator Free Essays

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Snow In August Essay Research Paper English free essay sample

Snow In August Essay, Research Paper English Project Snow In August Undertaking The Rabbi and Michael Devlin have a really close relationship because Michael? s male parent died in World War II, as did Rabbi Hirsh? s household. When Frankie assaults Mister G, Michael is traumatized. Then Mister G falls into a coma and is lost to the ever-dwindling fold in Rabbi Hirsh? s temple. Besides they are both in demand for person to acquire near to. Rabbi Hirsh has few members in his fold and no household in America. Michael feels entirely at place because his female parent plants and comes place tardily another ground for Rabbi Hirsh and Michael to be near. The War was traumatic for Michael. His male parent enlisted because he loved America, but he was killed in action in Europe. Rabbi Hirsh? s whole household was wiped out in the Holocaust. Therefore, they can happen comfort in each other they are sort of like a male parent and boy. We will write a custom essay sample on Snow In August Essay Research Paper English or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Michael gives the Rabbi his old wireless and the Rabbi offers Michael money for making the simple, undertaking of turning on a visible radiation. They besides provide religious comfort for each other. Michael is a devout Catholic and the Rabbi is a devout Jew, at times they each have uncertainnesss about their relationships with G-d. The Rabbi admirations why his fold can hardly do a minyan any more? And Michael wonders how person like Father Heany can merely run through the service, automatically, non believing the nature of the supplication? Possibly they both don? T know what to make? Like most people in town they hate Frankie McArthy, the town bully. Michael has three grounds. First Frankie? s pack rapes his female parent. Second Frankie and his pack beat up Rabbi Hirsh. Third, he witnessed the barbarous whipping of Mister G, who is paralyzed. The Rabbi and he can portion their adversities. The Rabbi likes to state Michael narratives about the old state, the golem and what Judaic life was like. Michael is ever really interested. Is it because it was from the old state where his male parent died? Or, is it because the narratives were interesting? Michael got to cognize the Rabbi when he was asked to make a favour. Michael was really uneasy on come ining the temple. The following clip he went in was for another favour and the 3rd, to see if there was some concealed hoarded wealth that was in the temple. All his friends told him there was. At the terminal he loved the Rabbi for his narratives, for his grasp of the universe, and besides his moral lessons. He loved that the Rabbi ever wanted to larn new things and neer gave up until he had finished the occupation. The Rabbi merely needed aid with a light bulb but when he saw that Michael came back a 2nd clip he thought that he and Michael could hold a existent relationship. It was based on assisting each other. Michael helped the Rabbi learn English. The Rabbi helped Michael learn yiddish. What foremost began as wonder developed into a friendly relationship. But even so, why did Michael continue to hold such funny ideas about the? hoarded wealth? ? He saw the manner the Rabbi liv ed. He was ever have oning dirty vesture, so why did he maintain on thought that there was a? hoarded wealth? ? If I could, I would inquire Michael three inquiries. Why did he non state on Frankie? Why did he go on to tie in with his friends if he knew that their seniors were anti-semitic? Was he bewraying the Rabbi by still being friends with these people? Why did he non state on Frankie? Why did his ma tell him that being a fink is so bad? Why did he non listen to the Rabbi, when, the Rabbi told him that non stating person about a offense is merely every bit bad as making the offense itself.

Advanced Accounting free essay sample

Advanced Accounting Assignment Week 7 1. Which of the following combinations correctly describes the relationship between foreign currency transactions, exchange rate changes, and foreign exchange gains and losses? Answer: c. Import purchase, Depreciates and Gain 3. On October 1, 2013, Mud Co. , a U. S. company, purchased parts from Terra, a Portuguese company, with payment due on December 1, 2013. If Mud’s 2013 operating income included no foreign exchange gain or loss, the transaction could have Answer: b. Been denominated in U. S. dollars. 4. In Post’s 2014 consolidated income statement, how much should it report as a foreign exchange loss? Answer: c. $15,000. 5. In its 2014 income statement, what amount should Houghton include as a foreign exchange gain or loss on the note? Answer: d. $10,000 loss. 6. Did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date? Answer: d. Increase, Decrease 10. Which of the following correctly describes the manner in which Barnum Company will report the forward contract on its December 31, 2013, balance sheet? Answer: d. As a liability in the amount of $4,901. 50. 11. Assuming that MNC did not enter into a forward contract, how much foreign exchange gain or loss should it report on its 2013 income statement with regard to this transaction? Answer: c. $2,000 loss. 12. Assuming that MNC entered into a forward contract to sell 10 million South Korean won on December 1, 2013, as a fair value hedge of a foreign currency receivable, what is the net impact on its net income in 2013 resulting from a fluctuation in the value of the won? Answer: b. $58. 80 decrease in net income. Advanced Accounting free essay sample FASB Accounting Standards Codification Topic 280, Segment Reporting (FASB ASC 280), provides current guidance on segment reporting. A. ASC 280 follows a management approach in which segments are based on the way that management disaggregates the enterprise for making operating decisions; these are referred to as operating segments. B. Operating segments are components of an enterprise which meet three criteria. 1. Engage in business activities and earn revenues and incur expenses. 2. Operating results are regularly reviewed by the chief operating decision-maker to assess performance and make resource allocation decisions. Discrete financial information is available from the internal reporting system. C. Once operating segments have been identified, three quantitative threshold tests are then applied to identify segments of sufficient size to warrant separate disclosure. Any segment meeting even one of these tests is separately reportable. 1. Revenue test—segment revenues, both external and intersegment, are 10 percent or more of the combined revenue, external and intersegment, of all reported operating segments. We will write a custom essay sample on Advanced Accounting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 2. Profit or loss test—segment profit or loss is 10 percent or more of the greater (in absolute terms) of the combined reported profit of all profitable segments or the combined reported loss of all segments incurring a loss. 3. Asset test—segment assets are 10 percent or more of the combined assets of all operating segments. D. Several general restrictions on the presentation of operating segments exist. 1. Separately reported operating segments must generate at least 75 percent of total sales made by the company to outside parties. 2. Ten is suggested as the maximum number of operating segments that should be separately disclosed. If more than ten are reportable, the company should consider combining some operating segments. E. Information to be disclosed by operating segment. 1. General information about the operating segment including factors used to identify operating segments and the types of products and services from which each segment derives its revenues. 2. Segment profit or loss and the following components of profit or loss. a. Revenues from external customers. b. Revenues from transactions with other operating segments. c. Interest revenue and interest expense (reported separately). d. Depreciation, depletion, and amortization expense. e. Other significant noncash items included in segment profit or loss. f. Unusual items and extraordinary items. g. Income tax expense or benefit. 3. Total segment assets and the following related items. a. Investment in equity method affiliates. b. Expenditures for additions to long-lived assets. II. Enterprise-wide disclosures. A. Information about products and services. 1. Additional information must be provided if operating segments have not been determined based on differences in products and services, or if the enterprise has only one operating segment. In those situations, revenues derived from transactions with external customers must be disclosed by product or service. B. Information about geographic areas. 1. Revenues from external customers and long-lived assets must be reported for (a) the domestic country, (b) all foreign countries in which the enterprise has assets or derives revenues, and (c) each individual foreign country in which the enterprise has material revenues or material long-lived assets. 2. U. S. GAAP does not provide any specific guidance with regard to determining materiality of revenues or long-lived assets; this is left to management’s judgment. C. Information about major customers. 1. The volume of sales to a single customer must be disclosed if it constitutes 10 percent or more of total sales to unaffiliated customers. 2. The identity of the major customer need not be disclosed. III. International Financial Reporting Standards (IFRS) also provide guidance with respect to segment reporting. A. IFRS 8, â€Å"Operating Segments,† is based on U. S. GAAP. Major differences between IFRS 8 and U. S. GAAP are: 1. IFRS 8 requires disclosure of total assets and total liabilities by operating segment if these are regularly reported to the chief operating decision maker. U. S. GAAP requires disclosure of segment assets but does not require disclosure of segment liabilities. 2. IFRS 8 specifically includes intangibles in the scope of â€Å"non-current assets† to be disclosed by geographic area. Authoritative accounting literature (FASB ASC) indicates that â€Å"long-lived assets† to be disclosed by geographic area excludes intangibles. U. S. GAAP requires an entity with a matrix form of organization to determine operating segments based on products and services. IFRS 8 allows such an entity to determine operating segments based on either products and services or geographic areas. IV. To provide investors and creditors with more timely information than is provided by an annual report, the U. S. Securities and Exchange Commission (SEC) requires publicly traded companies to provide financial statements on an interim (quarterly) basis. A.Quarterly statements need not be audited. V. FASB Accounting Standards Codification Topic 270, Interim Reporting (FASB ASC 270) requires companies to treat interim periods as integral parts of an annual period rather than as discrete accounting periods in their own right. A. Generally, interim statements should be prepared following the same accounting principles and practices used in the annual statements. B. However, several items require special treatment for the interim statements to better reflect the expected annual amounts. Revenues are recognized for interim periods in the same way as they are on an annual basis. 2. Interim statements should not reflect the effect of a LIFO liquidation if the units of beginning inventory sold are expected to be replaced by year-end; inventory should not be written down to a lower market value if the market value is expected to recover above the inventorys cost by year-end; and planned variances under a standard cost system should not be reflected in interim statements if they are expected to be absorbed by year-end. 3. Costs incurred in one interim period but associated with activities or benefits of multiple interim periods (such as advertising and executive bonuses) should be allocated across interim periods on a reasonable basis through accruals and deferrals. 4. The materiality of an extraordinary item should be assessed by comparing its amount against the expected income for the full year. 5. Income tax related to ordinary income should be computed at an estimated annual effective tax rate; income tax related to an extraordinary item should be calculated at the margin. VI. FASB ASC 270 provides guidance for reporting changes in accounting principles made in interim periods. A. Unless impracticable to do so, an accounting change is applied retrospectively, that is, prior period financial statements are restated as if the new accounting principle had always been used. B. When an accounting change is made in other than the first interim period, information for the interim periods prior to the change should be reported by retrospectively applying the new accounting principle to these pre-change interim periods. C. If retrospective application of the new accounting principle to interim periods prior to the change of change is impracticable, the accounting change is not allowed to be made in an interim period but may be made only at the beginning of the next fiscal year. VII. Many companies provide summary financial statements and notes in their interim reports. A. U. S. GAAP imposes minimum disclosure requirements for interim reports. 1. Sales, income tax, extraordinary items, cumulative effect of accounting change, and net income. 2. Earnings per share. Seasonal revenues and expenses. 4. Significant changes in estimates or provisions for income taxes. 5. Disposal of a business segment and unusual items. 6. Contingent items. 7. Changes in accounting principles or estimates. 8. Significant changes in financial position. B. Disclosure of balance sheet and cash flow information is encouraged but not required. If not included in the interim report, significant changes in the following must be disclosed: 1. Cash and cash equivalents. 2. Net working capital. 3. Long-term liabilities. 4. Stockholders equity. VIII. Four items of information must also be disclosed by operating segment in interim financial statements: revenues from external customers, intersegment revenues, segment profit or loss, and, if there has been a material change since the annual report, total assets. IX. IAS 34, â€Å"Interim Financial Reporting,† provides guidance in IFRS with respect to interim financial statements. A. Unlike U. S. GAAP, IAS 34 requires each interim period to be treated as a discrete accounting period in terms of the amounts to be recognized. As a result, expenses that are incurred in one quarter are expensed in that quarter even though the expenditure benefits the entire year. And there is no accrual in earlier quarters for expenses expected to be incurred later in the year. Answer to Discussion Question: How Does a Company Determine Whether a Foreign Country is Material? In his well-publicized â€Å"The Numbers Game† speech delivered in September 1998, former SEC chairman Arthur Levitt cited â€Å"materiality† as one of five gimmicks used by companies to manage earnings. Although his remarks were not specifically directed toward the issue of geographic segment reporting, the intent was to warn corporate America that materiality should not be used as an excuse for inappropriate accounting. To make the point even more salient, ASC 250-10-S99 (SAB Topic 1. M, Assessing Materiality, originally issued by the SEC as Staff Accounting Bulletin (SAB) 99, â€Å"Materiality†), warns financial statement preparers that reliance on a simple numerical rule of thumb, such as 5% of net income, is not sufficient. ASC 250-10-S99 reminds financial statement preparers that in its Concepts Statement 2, the FASB stated the essence of the concept of materiality as follows: â€Å"The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have been changed or influenced by the  inclusion or correction of the item. † Further, ASC 250-10-S99 reminds companies that both quantitative and qualitative factors should be considered in determining materiality. With respect to segment reporting, ASC 250-10-S99 states: â€Å"The materiality of a misstatement may turn on where it appears in the financial statements. For example, a misstatement may involve a segment of the registrants operations. In that instance, in assessing materiality of a misstatement to the financial statements taken as a whole, registrants and their auditors should consider not only the size of the misstatement but also the significance of the segment information to the financial statements taken as a whole. â€Å"A misstatement of the revenue and operating profit of a relatively small segment that is represented by management to be important to the future profitability of the entity is more likely to be material to investors than a misstatement in a segment that management has not identified as especially important. In assessing the materiality of misstatements in segment information as with materiality generally situations may arise in practice where the auditor will conclude that a matter relating to segment information is qualitatively material even though, in his or her judgment, it is quantitatively immaterial to the financial statements taken as a whole. Thus, in addition to quantitative factors, such as the relative percentage of total revenues generated in an individual foreign country, companies should consider qualitative factors as well. Qualitative factors that might be relevant in assessing the materiality of a specific foreign country include: the growth prospects in that country and the level of risk associated with doing business in that country. There are competing arguments for the FASB establishing a significance test for determining material foreign countries. On one hand, such a quantitative materiality test flies in the face of the warning provided in ASC 250-10-S99. For example, a 10% of total revenue or long-lived asset test might give companies an excuse to avoid reporting individual countries  that would be material for qualitative reasons. Assume that from one year to the next a company increases its revenues in China from 2% of total revenues to 6% of total revenues. Although 6% of total revenues would not meet a 10% test, the relatively large increase in total revenues generated in China could be material in that it could affect an investor’s assessment of the company’s future prospe cts. This company might be reluctant to disclose information about its revenues in China because of potential competitive harm. On the other hand, the FASB could establish a materiality threshold low enough, for example, 5% of total revenues, that would be likely to ensure that â€Å"material† countries are disclosed regardless of whether they are material for quantitative or qualitative reasons. A bright-line materiality threshold would ensure a minimum level of disclosure and would enhance the comparability of financial disclosures provided across companies. Answers to Questions 1. Consolidation presents the account balances of a business combination without regard for the individual component companies that comprise the organization. Thus, no distinction can be drawn as to the financial position or operations of the separate enterprises that form the corporate structure. Without a method by which to identify the various individual operations, financial analysis cannot be well refined. 2. The word disaggregated refers to a whole that has been broken apart. Thus, disaggregated financial information is the data of a reporting unit that has been broken down into components so that the separate parts can be identified and studied. 3. According to the FASB, the objective of segment reporting is to provide information to help users of financial statements: a.  better understand the enterprise’s performance, b. better assess its prospects for future net cash flows, and c. make more informed judgments about the enterprise as a whole. 4. Defining segments on the basis of a company’s organizational structure removes much of the flexibility and subjectivity associated with defining industry segments under pri or standards. In addition, the incremental cost of providing segment information externally should be minimal because that information is already generated for internal use. Analysts should benefit from this approach because it reflects the risks and opportunities considered important by management and allows the analyst to see the company the way it is viewed by management. This should enhance the analyst’s ability to predict management actions that can significantly affect future cash flows. 5. An operating segment is defined as a component of an enterprise: a. that engages in business activities from which it earns revenues and incurs expenses, b. whose operating results are regularly reviewed by the chief operating decision maker to assess performance and make resource allocation decisions, and c.  for which discrete financial information is available. 6. Two criteria must be considered in this situation to determine an enterprise’s operating segment. If more than one set of organizational units exists, but there is only one set for which segment managers are held responsible, that set constitutes the operating segments. If segment ma nagers exist for two or more overlapping sets of organizational units, the organizational units based on products and services are defined as the operating segments. 7. The Revenue Test. An operating segment is separately reportable if its total revenues amount to 10 percent or more of the combined total revenues of all operating segments. The Profit or Loss Test. An operating segment is separately reportable if its profit or loss is 10 percent or more of the greater (in absolute terms) of the combined profits of all profitable segments or the combined losses of all segments reporting a loss. The Asset Test. An operating segment is separately reportable if its assets comprise 10 percent or more of combined assets of all operating segments. For reportable operating segments, the following information must be disclosed: a. Revenues from sales to unaffiliated customers. b. Revenues from intercompany transfers. c. Profit or loss. d. Interest revenue. e. Interest expense. f. Depreciation, depletion, and amortization expense. g. Other significant noncash items included in profit or loss. h. Unusual items included in profit or loss. i. Income tax expense or benefit. j. Total assets. k. Equity method investments. l. Expenditures for long-lived assets. m. Description of the types of products or services from which the segment derives its revenues. 9. If operating segments are not based upon products or services, or a company has only one operating segment, then revenues from sales to unaffiliated customers must be disclosed for each of the company’s products and services. 10. Information must be provided for the domestic country, for all foreign countries in which the company generates revenue or holds assets, and for each foreign country in which the company generates a material amount of revenues or has a material amount of assets. Two items of information must be reported for the domestic country, for all foreign countries in total, and for each foreign country in which the company has material operations: (1) revenues from external customers, and (2) long-lived assets. 12. The minimum number of countries to be reported separately is one: the domestic country. If no single foreign country is material, then all foreign countries would be combined and two lines of information would be reported; one for the United States and one for all foreign countries. U. S.  GAAP does not provide any guidelines related to the maximum number of countries to be reported. 13. The existence of a major customer and the related amount of revenues must be disclosed when sales to a single customer are 10 percent or more of consolidated sales. 14. U. S. GAAP requires disclosure of a measure of segment assets, but does not require disclosure of a measure of segment liabilities. IFRS 8 requires disclosure of total assets and total lia bilities by segment if such a measure is regularly provided to the chief operating decision maker 15. U. S.  publicly traded companies are required to prepare quarterly financial reports to provide investors and creditors with relevant information on a more timely basis than is provided by an annual report. 16. Companies are required to follow an integral approach in which each interim period is considered to be an integral part of an annual accounting period, rather than a discrete accounting period in its own right. For several items, the integral approach requires deviation from the general rule that the same accounting principles used in preparing annual statements should also be used in preparing interim statements. 17. Cost-of-goods-sold should be adjusted in the interim period to reflect the cost at which the liquidated inventory is expected to be replaced, thus avoiding the effect of the LIFO liquidation on interim period income. 18. Income tax expense related to interim period income is determined by estimating the effective tax rate for the entire year. That rate is then applied to the cumulative pre-tax income earned to date to determine the cumulative income tax to be recognized to date. The amount of income tax recognized in the current interim period is the difference between the cumulative income tax to be recognized to date and the income tax recognized in prior interim periods. 19. When an accounting change occurs in other than the first interim period, information for the pre-change interim periods should be reported based on retrospective application of the new accounting principle. If retrospective application of the new accounting principle to pre-change interim periods is not practicable, the accounting change may be made only at the beginning of the next fiscal year. The following minimum information must be disclosed in an interim report: a. Sales, income tax, extraordinary items, cumulative effect of accounting change, and net income. b. Earnings per share. c. Seasonal revenues and expenses. d. Significant changes in estimates or provisions for income taxes. e. Disposal of a business segment and unusual items. f. Contingent items. g. Changes in accounting principles or estimates. h. Significant changes in the following items of financial position: 1. Cash and cash equivalents. 2. Net working capital. 3. Long-term liabilities. 4. Stockholders equity.

History of British Newspapers Essay Example

History of British Newspapers Essay Example History of British Newspapers Essay History of British Newspapers Essay History of British Newspapers Britains press can trace its history back more than 300 years, to the time of William of Orange. Berrows Worcester Journal, which started life as the Worcester Postman in 1690 and was published regularly from 1709, is believed to be the oldest surviving English newspaper. William Caxton had introduced the first English printing press in 1476 and, by the early 16th century, the first news papers were seen in Britain. They were, however, slow to evolve, with the largely illiterate population relying on town criers for news. Between 1640 and the Restoration, around 30,000 news letters and news papers were printed, many of which can be seen today in the British Museum. The first regular English daily newspaper, the Daily Courant, was launched with the reign of Queen Anne in 1702. Timeline 1476William Caxton sets up the first English printing press in Westminster. 1549First known English newsletter: Requests of the Devonshyre and Cornyshe Rebelles. 1621First titled newspaper, Corante, published in London. 1649Cromwell suppressed all newsbooks on the eve of Charles Is execution. 1690Worcester Postman launched. In 1709 it starts regular publication as Berrows Worcester Journal, considered to be the oldest surviving English newspaper). 1702Launch of the first regular daily newspaper: The Daily Courant. 1709First Copyright Act; Berrows Worcester Journal, considered the oldest surviving English newspaper, started regular publication. 1712First Stamp Act; advertisement, paper and stamp duties condemned as taxes on knowledge. Stamford Mercury believed to have been launched. 1718Leeds Mercury started (later merged into Yorkshire Post). 1737Belfast News Letter founded (worlds oldest surviving daily newspaper). 748Aberdeen Journal began (Scotlands oldest newspaper now the Press Journal). 1772Hampshire Chronicle launched, Hampshires oldest paper. 1788Daily Universal Register (est. 1785) became The Times. 1791The Observer launched. 1835Libel Act; truth allowed as defence for first time in Britain. 1836The Newspaper Society founded. 1844The Southport Visiter first published. 1848The first issue of the Brechin Advertiser was published on Tuesday 3 October 1848. 1853Ormskirk Advertiser and Birkenhead News first published. 1855Stamp duty abolished. Daily Telegraph started as first penny national. Manchester Guardian, The Scotsman and Liverpool Post became daily. Shields Gazette is the first of 17 regional evenings founded this year. 1868Press Association set up as a national news agency. 1889First Official Secrets Act. 1905Harmsworth (then Northcliffe) bought The Observer. 1906Newspaper Proprietors Association founded for national dailies. 1907National Union of Journalists founded as a wage-earners union. 1915Rothermere launched Sunday Pictorial (later Sunday Mirror). 1922Death of Northcliffe. Control of Associated Newspapers passed to Rothermere. 1928Northcliffe Newspapers set up as a subsidiary of Associated Newspapers. Provincial Newspapers set up as a subsidiary of United Newspapers. 1931Audit Bureau of Circulations formed. 1936Britains first colour advertisement appears (in Glasgows Daily Record). 1944Iliffe took over BPM Holdings (including Birmingham Post). 1946Guild of British Newspaper Editors formed (now the Society of Editors). 1953General Council of the Press established. 1955Month-long national press strike. Daily Record acquired by Mirror Group. 1959Manchester Guardian becomes The Guardian. Six-week regional press printing strike. 1960sPhotocomposition and web-offset printing progressively introduced. 964The Sun launched, replacing Daily Herald. Death of Beaverbrook. General Council of the Press reformed as the Press Council. 1969Murdochs News International acquired The Sun and News of the World. 1976Nottingham Evening Post is Britains first newspaper to start direct input by journalists. 1978The Times and The Sunday Times ceased publication for 11 months. 1980Association of Free Newspap er founded (folded 1991). Regional Newspaper Advertising Bureau formed. 1981News International acquired The Times and the Sunday Times. 1983Industrial dispute at Eddie Shahs Messenger group plant at Warrington. 984Mirror Group sold by Reed to Maxwell (Pergamon). First free daily newspaper, the (Birmingham) Daily News, launched by husband wife team Chris Pat Bullivant. 1986News International moved titles to a new plant at Wapping. Eddie Shah launched Today, first colour national daily launched. The Independent launched. 1987News International took over Today. 1988RNAB folded. Newspaper Society launched PressAd as its commercial arm. Thomson launched Scotland on Sunday and Sunday Life. 1989Last Fleet Streetpaper produced by Sunday Express. 1990First Calcutt report on Privacy and Related Matters. Launch of The European (by Maxwell) and Independent on Sunday. 1991Press Complaints Commission replaced the Press Council. AFN folded. Death of Robert Maxwell (November). Management buy-out of Birmingham Post and sister titles. Midland Independent Newspapers established. 1992Management buy-out by Caledonian Newspapers of Lonrhos Glasgow titles, The Herald and Evening Times. 1993Guardian Media Group bought The Observer. UK News set up by Northcliffe and Westminster Press as rival news agency to the Press Association. Second Calcutt report into self-regulation of the press. 994Northcliffe Newspapers bought Nottingham Evening Post for ? 93m. News International price-cutting sparked off new national cover-price war. 1995Lord Wakeham succeeded Lord McGregor as chairman of the PCC. Privacy white paper rejected statutory press controls. Most of Thomsons regional titles sold to Trinity. Newsquest formed out of a Reed MBO. Murdoch closes Today (November). 1996A year of buyouts, mergers and re structuring in the regional press. Regionals win the battle over cross-media ownership (Broadcasting Act). Newspaper Society launches NS Marketing, replacing PressAd. 997Midland Independent Newspapers is bought by Mirror Group for ? 297 million. Human Rights and Data Protection bills are introduced. 1998Fourth largest regional press publisher, United Provincial Newspapers, is sold in two deals: UPN Yorkshire and Lancashire newspapers sold to Regional Independent Media for ? 360m and United Southern Publications sold to Southnews for ? 47. 5m. Southern Newspapers changes its name to Newscom, following acquisitions in Wales and the West (including UPN Wales in 1996). Death of Lord Rothermere. Chairmanship of Associated Newspapers passes to his son Jonathan Harmsworth. Death of David English, editor-in-chief of Daily Mail and chairman of the editors code committee. 1999Trinity merges with Mirror Group Newspapers in a deal worth ? 1. 3 billion. Newsquest is bought by US publisher Gannett for ? 904 million. Portsmouth Sunderland Newspapers is bought by Johnston Press for ? 266m. Major regional press groups launch electronic media alliances (eg, This is Britain, Fish4 sites. ) Freedom of Information bill introduced. Associated launches Londons free commuter daily, Metro. 2000Newscom is sold to Newsquest Media Group for ? 44m, Adscene titles are sold to Southnews (? 52m)and Northcliffe Newspapers, Belfast Telegraph Newspapers are sold by Trinity Mirror to Independent News Media for ? 300m, Bristol United Press is sold to Northcliffe Newspapers Group, and Southnews is sold to Trinity Mirror for ? 285m. Daily Express and Daily Star are sold by Lord Hollicks United News Media to Richard Desmonds Northern Shell. Launch of Scottish business daily Busine ss a. m. and more Metro daily frees. Newspaper Society launches internet artwork delivery system AdFast. Communications white paper published. 001RIM buys six Galloway and Stornaway Gazette titles, Newsquest buys Dimbleby Newspaper Group and Johnston Press buys four titles from Morton Media Group. UK Publishing Media formed. Sunday Business changes name to The Business and publishes on Sunday and Monday. 2002Johnston Press acquires Regional Independent Medias 53 regional newspaper titles in a ? 560 million deal. Northcliffe Newspapers Group Ltd acquires Hill Bros (Leek) Ltd. Queen attends Newspaper Society annual lunch. New PCC chairman, Christopher Meyer, announced. Draft Communications Bill published. The Sun and Mirror engage in a price war. 003Conrad Black resigns as chief executive of Hollinger International, owner of Telegraph group. Claverly Company, owner of Midland News Association, buys Guiton Group, publisher of regional titles in the Channel Islands. Archant buys 12 Lond on weekly titles from Independent News Media (December) and the remaining 15 the following month (January 04). Independent begins the shift to smaller format national newspapers when it launched its compact edition. Sir Christopher Meyer becomes chairman of the Press Complaints Commission. DCMS select committee chaired by Gerald Kaufman into privacy and the press. Government rejects calls for a privacy law. 2004Phillis Report on Government Communications published (January). Barclay Brothers buy Telegraph group and poach Murdoch Maclennan from Associated to run it. Kevin Beatty moves from Northcliffe Newspapers to run Associated Newspapers. Trinity Mirror sells Century Newspapers and Derry Journal in Northern Ireland to 3i. Tindle Newspapers sells Sunday Independent in Plymouth to Newsquest. The Times goes compact (November). 2005Johnston Press buys Score Press from EMAP for ? 155m. Launch of free Lite editions for London Evening Standard and Manchester Evening News. The Times puts up cover price to 60p, marking the end of the nationals’ price war. The Guardian moves to Berliner format after ? 80m investment in new presses. DMGT puts Northcliffe Newspapers up for sale; bids expected to open at ? 1. 2 billion. Johnston Press buys Scotsman Publications from Barclay Brothers for ? 160m. 2006DMGT sale of Northcliffe group aborted but DC Thomson acquires Aberdeen Press Journal. Trinity Mirror strategic review: Midlands and South East titles put up for sale. Growth of regional press digital platforms. Manchester Evening News city edition goes free. Government threat to limit Freedom of Information requests. Associated and News International both launch free evening papers in London during the autumn. 2007Archant Scotland acquired by Johnston Press. Northcliffe Media buys three regional newspaper businesses from Trinity Mirror; Kent Regional Newspapers, East Surrey and Sussex Newspapers and Blackmore Vale Publishing. Dunfermline Press Group acquires Berkshire Regional Newspapers from Trinity Mirror. Tindle Newspapers buys 27 local weekly newspapers from Trinity Mirror which retains its Midlands titles. The government abandons plans to tighten Freedom of Information laws and limit media access to coroners’ courts. Former Hollinger International chief executive Conrad Black is sentenced to six-and-a-half years in prison for fraud. Rupert Murdoch’s News Corporation buys Dow Jones, owner of the Wall Street Journal, appointing News International boss Les Hinton as chief executive. 2008The global economic downturn hit advertising revenues and shares of media companies fell sharply during the year. John Fry was announced as Tim Bowdler’s successor at Johnston Press in September. The Independent announced a plan to move to DMGT’s Kensington building to cut costs in November. The BBC Trust rejected plans for local video that would have a negative impact on regional titles in the same month following a sustained campaign by the NS. 2009Russian businessman Alexander Lebedev acquires the London Evening Standard from Daily Mail General Trust and the title is subsequently relaunched as a free newspaper. Baroness Peta Buscombe is appointed chairman of the Press Complaints Commission. 2010Britain officially emerges from the longest and deepest recession since the war. Lebedev acquires the Independent and Independent on Sunday from Independent News Media for a nominal fee of ? 1. Trinity Mirror acquires GMG Regional Media, publisher of 32 titles, from Guardian Media Group for ? 44. 8 million. News International erects paywalls around its online content for The Times and The Sunday Times. Eleven regional print titles are launched by seven publishers in the first six months of the year. Newly-elected coalition government announces it will look at the case for relaxing cross-media ownership rules and stop unfair competition from council newspapers. The Independent launches i, a digest newspaper to complement their main title, and the first daily paper to be launched in the UK in almost 25 years.

The massacre of the innocents by Francois Joseph Naves during Essay

The massacre of the innocents by Francois Joseph Naves during - Essay Example The picture has a hidden story and acts as a narrative of the whole massacre event. Firstly, the characters in the picture are in a sorrowful and worried mood. The painter has used the facial expressions to reveal sad moods that prevailed in the city after King Herod ordered the killing of all the male infants. It had happened after his appointment as King of the Jews. From the use of facial characteristics, one can also tell that the female gender suffered from most of the stress after the death of their children. The women and children are hiding from Herod’s soldiers while trying to keep the baby girls silent for their own safety. According to the background, it is because most of the men had either peacefully of forcefully joined Herod’s army after he became the king. From the window, one can also see the soldiers trying to struggle with women so that they would search the houses for male children. Joseph has also used the portrait to show that a prophecy from the O ld Testament had been fulfilled where Christian martyrs had to be executed. It also reveals the fear in the female children most of whom did not understand the whole occurrence. The work can be based on the Bible as the only source. The massacre has been highlighted in the Book of Mathew in the New Testament. He has also used knowledge from the book to reveal his characters in the painting. By analyzing the portrait, one can tell that Joseph was emotionally. Additionally, he also had a specific reason as to why he chose the massacre by King Herod. The physical positions of the characters represent what they were saying based on the Bible. From the portrait, one can tell that Elizabeth is the lay dressed in yellow because after hearing the news on the executions, she hid her child in an ox-stall. On close examination, one can tell that the painting has been worked on by an expert. The clarity of the cloth color and the texture