Malaysian Financial Reporting Standard 116 Essay

Malaysian Financial Reporting Standard 116 Property, Plant and Equipment This version includes amendments resulting from MFRSs with effective dates no later than 1 January 2012. Amendments with an effective date later than 1 January 2012 MFRS 116 has been amended by MFRS 13 Fair Value Measurement*. As those amendments have an effective date after 1 January 2012 they are not included in this edition. * effective date 1 January 2013 559 MFRS 116 CONTENTS paragraphs Preface INTRODUCTION IN1–IN15 MALAYSIAN FINANCIAL REPORTING STANDARD 116 PROPERTY, PLANT AND EQUIPMENT OBJECTIVE SCOPE DEFINITIONS RECOGNITION Initial costs Subsequent costs MEASUREMENT AT RECOGNITION Elements of cost Measurement of cost MEASUREMENT AFTER RECOGNITION Cost model Revaluation model Depreciation Depreciable amount and depreciation period Depreciation method Impairment Compensation for impairment DERECOGNITION DISCLOSURE TRANSITIONAL PROVISIONS EFFECTIVE DATE WITHDRAWAL OF OTHER PRONOUNCEMENTS 1 2–5 6 7–14 11 12–14 15–28 16–22 23–28 29–66 30 31–42 43–62 50–59 60–62 63 65–66 67–72 73–79 80 81–81E 82–83 560  © IFRS Foundation MFRS 116 Malaysian Financial Reporting Standard 116 Property, Plant and Equipment (MFRS 116) is set out in paragraphs 1–83. All the paragraphs have equal authority. MFRS 116 should be read in the context of its objective and the Basis for Conclusions, the Foreword to Financial Reporting Standards and the Conceptual Framework for Financial Reporting. MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.  © IFRS Foundation 561 MFRS 116 Preface The Malaysian Accounting Standards Board (MASB) is implementing its policy of convergence through adopting International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) for application for annual periods beginning on or after 1 January 2012. The IASB defines IFRSs as comprising: (a) International Financial Reporting Standards; (b) International Accounting Standards; (c) IFRIC Interpretations; and (d) SIC Interpretations. Malaysian Financial Reporting Standards (MFRSs) equivalent to IFRSs that apply to any reporting period beginning on or after 1 January 2012 are: (a) Malaysian Financial Reporting Standards; and (b) IC Interpretations. First-time application of MFRSs equivalent to IFRSs Application of this Standard will begin in the first-time adopter’s * first annual reporting period beginning on or after 1 January 2012 in the context  of adopting MFRSs equivalent to IFRSs. In this case, the requirements of MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards must be observed. Application of MFRS 1 is necessary as otherwise such financial statements will not be able to assert compliance with IFRS. MFRS 1, the Malaysian equivalent of IFRS 1 First-time Adoption of International Financial Reporting Standards, requires prior period information, presented as comparative information, to be restated as if the requirements of MFRSs effective for annual period beginning on or after 1 January 2012 have always been applied, except when it (1) prohibits retrospective application in some aspects or (2) allows the first-time adopter to use one or more of the exemptions or except ions contained therein. This means that, in preparing its first MFRS financial statements* for a financial period beginning on or after 1 January 2012, the first-time adopter shall refer to the provisions contained in MFRS 1 on matters relating to transition and effective dates instead of the transitional provision and effective date contained in the respective MFRSs. This differs from previous requirements where an entity accounted for changes of accounting policies in accordance with the specific transitional provisions contained in the respective Financial Reporting Standards (FRSs) or in accordance with FRS 108 Accounting Policies, Changes in Accounting Estimates and Errors when the FRS did not include specific transitional provisions. * Appendix A of MFRS 1 defines first-time adopter and first MFRS financial statements. 562 MFRS 116 In this regard the effective and issuance dates contained in this Standard are those of the IASB’s and are inapplicable in the new MFRS framework since MFRS 1 requirements will be applied on 1 January 2012. Comparison and compliance with IAS 16 MFRS 116 is equivalent to IAS 16 Property, Plant and Equipment as issued and amended by the IASB, including the effective and issuance dates. Entities that comply with MFRS 116 will  simultaneously be in compliance with IAS 16. 563 MFRS 116 Introduction IN1 International Accounting Standard 16 Property, Plant and Equipment (IAS 16) replaces IAS 16 Property, Plant and Equipment (revised in 1998), and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. The Standard also replaces the following Interpretations: ï‚ · ï‚ · ï‚ · SIC-6 Costs of Modifying Existing Software SIC-14 Property, Plant and Equipment—Compensation for the Impairment or Loss of Items SIC-23 Property, Plant and Equipment—Major Inspection or Overhaul Costs. IASB’s reasons for revising IAS 16 IN2 The International Accounting Standards Board developed this revised IAS 16 as part of its project on Improvements to International Accounting Standards. The project was undertaken in the light of queries and criticisms raised in relation to the Standards by securities regulators, professional accountants and other interested parties. The objectives of the project were to reduce or eliminate alternatives, redundancies and conflicts within the Standards, to deal with some convergence issues and to make other improvements. For IAS 16 the IASB’s main objective was a limited revision to provide additional guidance and clarification on selected matters. The IASB did not reconsider the fundamental approach to the accounting for property, plant and equipment contained in IAS 16. IN3 The main changes of IAS 16 IN4 The main changes from the previous version of IAS 16 are described below. Scope IN5 This Standard clarifies that an entity is required to apply the principles of this Standard to items of property, plant and equipment used to develop or maintain (a) biological assets and (b) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources. Recognition: subsequent costs  IN6 An entity evaluates under the general recognition principle all property, plant and equipment costs at the time they are incurred. Those costs include costs incurred initially to acquire or construct an item of property, plant and equipment and costs incurred subsequently to add to, replace part of, or service an item. The previous version of IAS 16 contained two recognition principles. An entity applied the second recognition principle to subsequent costs.  © 564 IFRS Foundation MFRS 116 Measurement at recognition: asset dismantlement, removal and restoration costs IN7 The cost of an item of property, plant and equipment includes the costs of its dismantlement, removal or restoration, the obligation for which an entity incurs as a consequence of installing the item. Its cost also includes the costs of its dismantlement, removal or restoration, the obligation for which an entity incurs as a consequence of using the item during a particular period for purposes other than to produce inventories during that period. The previous version of IAS 16 included within its scope only the costs incurred as a consequence of installing the item. Measurement at recognition: asset exchange transactions IN8 An entity is required to measure an item of property, plant and equipment acquired in exchange for a non-monetary asset or assets, or a combination of monetary and non-monetary assets, at fair value unless the exchange  transaction lacks commercial substance. Under the previous version of IAS 16, an entity measured such an acquired asset at fair value unless the exchanged assets were similar. Measurement after recognition: revaluation model IN9 If fair value can be measured reliably, an entity may carry all items of property, plant and equipment of a class at a revalued amount, which is the fair value of the items at the date of the revaluation less any subsequent accumulated depreciation and accumulated impairment losses. Under the previous version of IAS 16, use of revalued amounts did not depend on whether fair values were reliably measurable. Depreciation: unit of measure IN10 An entity is required to determine the depreciation charge separately for each significant part of an item of property, plant and equipment. The previous version of IAS 16 did not as clearly set out this requirement. Depreciation: depreciable amount  IN11 An entity is required to measure the residual value of an item of property, plant and equipment as the amount it estimates it would receive currently for the asset if the asset were already of the age and in the condition expected at the end of its useful life. The previous version of IAS 16 did not specify whether the residual value was to be this amount or the amount, inclusive of the effects of inflation, that an entity expected to receive in the future on the asset’s actual retirement date. Depreciation: depreciation period IN12 An entity is required to begin depreciating an item of property, plant and equipment when it is available for use and to continue depreciating it until it  © IFRS Foundation 565 MFRS 116 is derecognised, even if during that period the item is idle. The previous version of IAS 16 did not specify when depreciation of an item began and specified that an entity should cease depreciating an item that it had retired from active use and was holding for disposal. Derecognition: derecognition date IN13 An entity is required to derecognise the carrying amount of an item of property, plant and equipment that it disposes of on the date the criteria for the sale of goods in IAS 18 Revenue would be met. The previous version of IAS 16 did not require an entity to use those criteria to determine the date on which it derecognised the carrying amount of a disposed-of item of property, plant and equipment. An entity is required to derecognise the carrying amount of a part of an item of property, plant and equipment if that part has been replaced and the entity has included the cost of the replacement in the carrying amount of the item. The previous version of IAS 16 did not extend its derecognition principle to such parts; rather, its recognition principle for subsequent expenditures effectively precluded the cost of a replacement from being included in the carrying amount of the item. IN14 Derecognition: gain classification IN15 An entity cannot classify as revenue a gain it realises on the disposal of an item of property, plant and equipment. The previous version of IAS 16 did not contain this provision. 566  © IFRS Foundation MFRS 116 Malaysian Financial Reporting Standard 116 Property, Plant and Equipment Objective 1 The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them. Scope 2 This Standard shall be applied in accounting for property, plant and equipment except when another Standard requires or permits a different accounting treatment. This Standard does not apply to: (a) property, plant and equipment classified as held for sale in accordance with MFRS 5 Non-current Assets Held for Sale and Discontinued Operations; 3 (b) biological assets related to agricultural activity (see MFRS 141 Agriculture); (c) the recognition and measurement of exploration and evaluation assets (see MFRS 6 Exploration for and Evaluation of Mineral Resources); or (d) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources. However, this Standard applies to property, plant and equipment used to develop or maintain the assets described in (b)–(d). 4 Other Standards may require recognition of an item of property, plant and equipment based on an approach different from that in this Standard. For example, MFRS 117 Leases requires an entity to evaluate its recognition of an item of leased property, plant and equipment on the basis of the transfer of risks and rewards. However, in such cases other aspects of the accounting treatment for these assets, including depreciation, are prescribed by this Standard. An entity using the cost model for investment property in accordance with MFRS 140 Investment Property shall use the cost model in this Standard. 5 Definitions 6 The following terms are used in this Standard with the meanings specified:  © IFRS Foundation 567 MFRS 116 Carrying amount is the amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment losses. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the specific requirements of other MFRSs, eg MFRS 2 Share-based Payment. Depreciable amount is the cost of an asset, or other amount substituted for cost, less its residual value. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. Entity-specific value is the present value of the cash flows an entity expects to arise from the continuing use of an asset and from its disposal at the end of its useful life or expects to incur when settling a liability. Fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction. An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. Property, plant and equipment are tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Recoverable amount is the higher of an asset’s fair value less costs to sell and its value in use. The residual value of an asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. Useful life is: (a) the period over which an asset is expected to be available for use by an entity;  or (b) the number of production or similar units expected to be obtained from the asset by an entity. Recognition 7 The cost of an item of property, plant and equipment shall be recognised as an asset if, and only if: (a) it is probable that future economic benefits associated with the item will flow to the entity; and (b) the cost of the item can be measured reliably.  © 568 IFRS Foundation MFRS 116 8 Spare parts and servicing equipment are usually carried as inventory and recognised in profit or loss as consumed. However, major spare parts and stand-by equipment qualify as property, plant and equipment when an entity expects to use them during more than one period. Similarly, if the spare parts and servicing equipment can be used only in connection with an item of property, plant and equipment, they are accounted for as property, plant and equipment. This Standard does not prescribe the unit of measure for recognition, ie what constitutes an item of property, plant and equipment. Thus, judgement is required in applying the recognition criteria to an entity’s specific circumstances. It may be appropriate to aggregate individually insignificant items, such as moulds, tools and dies, and to apply the criteria to the aggregate value. An entity evaluates under this recognition principle all its property, plant and equipment costs at the time they are incurred. These costs include costs incurred initially to acquire or construct an item of property, plant and equipment and costs incurred subsequently to add to, replace part of, or service it. 9 10 Initial costs 11 Items of property, plant and equipment may be acquired for safety or environmental reasons. The acquisition of such property, plant and equipment, although not directly increasing the future economic benefits of any particular existing item of property, plant and equipment, may be necessary for an entity to obtain the future economic benefits from its other assets. Such items of property, plant and equipment qualify for recognition as assets because they enable an entity to derive future economic benefits from related assets in excess of what could be derived had those items not been acquired. For example, a chemical manufacturer may install new chemical handling processes to comply with environmental requirements for the production and storage of dangerous chemicals; related plant enhancements are recognised as an asset because without them the entity is unable to manufacture and sell chemicals. However, the resulting carrying amount of such an asset and related assets is reviewe d for impairment in accordance with MFRS 136 Impairment of Assets. Subsequent costs 12 Under the recognition principle in paragraph 7, an entity does not recognise in the carrying amount of an item of property, plant and equipment the costs of the day-to-day servicing of the item. Rather, these costs are recognised in profit or loss as incurred. Costs of day-to-day servicing are primarily the costs of labour and consumables, and may include the cost of small parts. The purpose of these expenditures is often described as for the ‘repairs and maintenance’ of the item of property, plant and equipment. Parts of some items of property, plant and equipment may require replacement at regular intervals. For example, a furnace may require relining  © 13 IFRS Foundation 569 MFRS 116 after a specified number of hours of use, or aircraft interiors such as seats and galleys may require replacement several times during the  life of the airframe. Items of property, plant and equipment may also be acquired to make a less frequently recurring replacement, such as replacing the interior walls of a building, or to make a nonrecurring replacement. Under the recognition principle in paragraph 7, an entity recognises in the carrying amount of an item of property, plant and equipment the cost of replacing part of such an item when that cost is incurred if the recognition criteria are met. The carrying amount of those parts that are replaced is derecognised in accordance with the derecognition provisions of this Standard (see paragraphs 67–72). 14 A condition of continuing to operate an item of property, plant and equipment (for example, an aircraft) may be performing regular major inspections for faults regardless of whether parts of the item are replaced. When each major inspection is performed, its cost is recognised in the carrying amount of the item of property, plant and equipment as a replacement if the recognition criteria are satisfied. Any remaining carrying amount of the cost of the previous inspection (as distinct from physical parts) is derecognised. This occurs regardless of whether the cost of the previous inspection was identified in the transaction in which the item was acquired or constructed. If necessary, the estimated cost of a future similar inspection may be used as an indication of what the cost of the existing inspection component was when the item was acquired or constructed. Measurement at recognition 15 An item of property, plant and equipment that qualifies for recognition as an asset shall be measured at its cost. Elements of cost 16 The cost of an item of property, plant and equipment comprises: (a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates. (b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. (c) the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located, the  obligation for which an entity incurs either when the item is acquired or as a consequence of having used the item during a particular period for purposes other than to produce inventories during that period. 17 Examples of directly attributable costs are: (a) costs of employee benefits (as defined in MFRS 119 Employee Benefits) arising directly from the construction or acquisition of the item of property, plant and equipment; 570  © IFRS Foundation MFRS 116 (b) costs of site preparation; (c) initial delivery and handling costs; (d) installation and assembly costs; (e) costs of testing whether the asset is functioning properly, after deducting the net proceeds from selling any items produced while bringing the asset to that location and condition (such as samples produced when testing equipment); and professional fees. (f) 18 An entity applies MFRS 102 Inventories to the costs of obligations for dismantling, removing and restoring the site on which an item is located that are incurred during a particular period as a consequence of having used the item to produce inventories during that period. The obligations for costs accounted for in accordance with MFRS 102 or MFRS 116 are recognised and measured in accordance with MFRS 137 Provisions, Contingent Liabilities and Contingent Assets. Examples of costs that are not costs of an item of property, plant and equipment are: (a) costs of opening a new facility; 19 (b) costs of introducing a new product or service (including costs of advertising and promotional activities); (c) costs of conducting business in a new location or with a new class of customer (including costs of staff training); and (d) administration and other general overhead costs. 20 Recognition of costs in the carrying amount of an item of property, plant and equipment ceases when the item is in the location and condition necessary for it to be capable of operating in the manner intended by management. Therefore, costs incurred in using or redeploying an item are not included in the carrying amount of that item. For example, the following costs are not included in the carrying amount of an item of property, plant and equipment: (a) costs incurred while an item capable of operating in the manner intended by management has yet to be brought into use or is operated at less than full capacity; (b) initial operating losses, such as those incurred while demand for the item’s output builds up; and (c) 21 costs of relocating or reorganising part or all of an entity’s operations. Some operations occur in connection with the construction or development of an item of property, plant and equipment, but are not necessary to bring the item to the location and condition necessary for it to be capable of operating in the manner intended by management. These incidental operations may occur before or during the construction or development activities. For example, income may be earned through using a building site as a car park until construction starts. Because incidental operations are not  © IFRS Foundation 571 MFRS 116 necessary to bring an item to the location and condition necessary  for it to be capable of operating in the manner intended by management, the income and related expenses of incidental operations are recognised in profit or loss and included in their respective classifications of income and expense. 22 The cost of a self-constructed asset is determined using the same principles as for an acquired asset. If an entity makes similar assets for sale in the normal course of business, the cost of the asset is usually the same as the cost of constructing an asset for sale (see MFRS 102). Therefore, any internal profits are eliminated in arriving at such costs. Similarly, the cost of abnormal amounts of wasted material, labour, or other resources incurred in self-constructing an asset is not included in the cost of the asset. MFRS 123 Borrowing Costs establishes criteria for the recognition of interest as a component of the carrying amount of a self-constructed item of property, plant and equipment. Measurement of cost 23 The cost of an item of property, plant and equipment is the cash price equivalent at the recognition date. If payment is deferred beyond normal credit terms, the difference between the cash price equivalent and the total payment is recognised as interest over the period of credit unless such interest is capitalised in accordance with MFRS 123. One or more items of property, plant and equipment may be acquired in exchange for a non-monetary asset or assets, or a combination of monetary and non-monetary assets. The following discussion refers simply to an exchange of one non-monetary asset for another, but it also applies to all exchanges described in the preceding sentence. The cost of such an item of property, plant and equipment is measured at fair value unless (a) the exchange transaction lacks commercial substance or (b) the fair value of neither the asset received nor the asset given up is reliably measurable. The acquired item is measured in this way even if an entity cannot immediately derecognise the asset given up. If the acquired item is not measured at fair value, its cost is measured at the carrying amount of the asset given up. An entity determines whether an exchange transaction has commercial substance by considering the extent to which its future cash flows are expected to change as a result of the transaction. An exchange transaction has commercial substance if: (a) the configuration (risk, timing and amount) of the cash flows of the asset  received differs from the configuration of the cash flows of the asset transferred; or 24 25 (b) the entity-specific value of the portion of the entity’s operations affected by the transaction changes as a result of the exchange; and (c) the difference in (a) or (b) is significant relative to the fair value of the assets exchanged. For the purpose of determining whether an exchange transaction has commercial substance, the entity-specific value of the portion of the entity’s 572  © IFRS Foundation MFRS 116 operations affected by the transaction shall reflect post-tax cash flows. The result of these analyses may be clear without an entity having to perform detailed calculations. 26 The fair value of an asset for which comparable market transactions do not exist is reliably measurable if (a) the variability in the range of reasonable fair value estimates is not significant for that asset or (b) the probabilities of the various estimates within the range can be reasonably assessed and used in estimating fair value. If an entity is able to determine reliably the fair value of either the asset received or the asset given up, then the fair value of the asset given up is used to measure the cost of the asset received unless the fair value of the asset received is more clearly evident. The cost of an item of property, plant and equipment held by a lessee under a finance lease is determined in accordance with MFRS 117. The carrying amount of an item of property, plant and equipment ma y be reduced by government grants in accordance with MFRS 120 Accounting for Government Grants and Disclosure of Government Assistance. 27 28 Measurement after recognition 29 An entity shall choose either the cost model in paragraph 30 or the revaluation model in paragraph 31 as its accounting policy and shall apply that policy to an entire class of property, plant and equipment. Cost model 30 After recognition as an asset, an item of property, plant and equipment shall be carried at its cost less any accumulated depreciation and any accumulated impairment losses. Revaluation model 31 After recognition as an asset, an item of property, plant and equipment whose fair value can be measured reliably shall be carried at a revalued amount, being its fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. The fair value of land and buildings is usually determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. The fair value of items of plant and equipment is usually their market value determined by appraisal. If there is no market-based evidence of fair value because of the specialised nature of the item of property, plant and equipment and the item is rarely 32 33  © IFRS Foundation 573 MFRS 116 sold, except as part of a continuing business, an entity may need to estimate fair value using an income or a depreciated replacement cost approach. 34 The frequency of revaluations depends upon the changes in fair values of the items of property, plant and equipment being revalued. When the fair value of a revalued asset differs materially from its carrying amount, a further revaluation is required. Some items of property, plant and equipment experience significant and volatile changes in fair value, thus necessitating annual revaluation. Such frequent revaluations are unnecessary for items of property, plant and equipment with only insignificant changes in fair value. Instead, it may be necessary to revalue the item only every three or five years. When an item of property, plant and equipment is revalued, any accumulated depreciation at the date of the revaluation is treated in one of the following ways: (a) restated proportionately with the change in the gross carrying amount of the asset so that the carrying amount of the asset after revaluation equals its revalued amount. This method is often used when an asset is revalued by means of applying an index to determine its depreciated replacement cost. 35 (b) eliminated against the gross carrying amount of the asset and the net amount restated to the revalued amount of the asset. This method is often used for buildings. The amount of the adjustment arising on the restatement or elimination of accumulated depreciation forms part of the increase or decrease in carrying amount that is accounted for in accordance with paragraphs 39 and 40. 36 If an item of property, plant and equipment is revalued, the entire class of property, plant and equipment to which that asset belongs shall be revalued. A class of property, plant and equipment is a grouping of assets of a similar nature and use in an entity’s operations. The following are examples of separate classes: (a) land; 37 (b) land and buildings; (c) machinery; (d) ships; (e) (f) aircraft; motor vehicles; (g) furniture and fixtures; and (h) office equipment. 574  © IFRS Foundation MFRS 116 38 The items within a class of property, plant and equipment are revalued simultaneously to avoid selective revaluation of assets and the reporting of amounts in the financial statements that are a mixture of costs and values as at different dates. However, a class of assets may be revalued on a rolling basis provided revaluation of the class of assets is completed within a short period and provided the revaluations are kept up to date. If an asset’s carrying amount is increased as a result of a revaluation, the increase shall be recognised in other comprehensive income and accumulated in equity under the heading of revaluation surplus. However, the increase shall be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. If an asset’s carrying amount is decreased as a result of a revaluation, the decrease shall be recognised in profit or loss. However, the decrease shall be recognised in other comprehensive income to the extent of any credit balance existing in the revaluation surplus in respect of that asset. The decrease recognised in other comprehensive income reduces the amount accumulated in equity under the heading of revaluation surplus. The revaluation surplus included in equity in respect of an item of property, plant and equipment may be transferred directly to retained earnings when the asset is derecognised. This may involve transferring the whole of the surplus when the asset is retired or disposed of. However, some of the surplus may be transferred as the asset is used by an entity. In such a case, the amount of the surplus transferred would be the difference between depreciation based on the revalued carrying amount of the asset and  depreciation based on the asset’s original cost. Transfers from revaluation surplus to retained earnings are not made through profit or loss. The effects of taxes on in come, if any, resulting from the revaluation of property, plant and equipment are recognised and disclosed in accordance with MFRS 112 Income Taxes. 39 40 41 42 Depreciation 43 Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item shall be depreciated separately. An entity allocates the amount initially recognised in respect of an item of property, plant and equipment to its significant parts and depreciates separately each such part. For example, it may be appropriate to depreciate separately the airframe and engines of an aircraft, whether owned or subject to a finance lease. Similarly, if an entity acquires property, plant and equipment subject to an operating lease in which it is the lessor, it may be appropriate to depreciate separately amounts reflected in the cost of that item that are attributable to favourable or unfavourable lease terms relative to market terms. 44  © IFRS Foundation 575 MFRS 116 45 A significant part of an item of property, plant and equipment may have a useful life and a depreciation method that are the same as the useful life and the depreciation method of another significant part of that same item. Such parts may be grouped in determining the depreciation charge. To the extent that an entity depreciates separately some parts of an item of property, plant and equipment, it also depreciates separately the remainder of the item. The remainder consists of the parts of the item that are individually not significant. If an entity has varying expectations for these parts, approximation techniques may be necessary to depreciate the remainder in a manner that faithfully represents the consumption pattern and/or useful life of its parts. An entity may choose to depreciate separately the parts of an item that do not have a cost that is significant in relation to the total cost of the item. The depreciation charge for each period shall be recognised in prof it or loss unless it is included in the carrying amount of another asset. The depreciation charge for a period is usually recognised in profit or loss. However, sometimes, the future economic benefits embodied in an asset are absorbed in producing other assets. In this case, the depreciation charge constitutes part of the cost of the other asset and is included in its carrying amount. For example, the depreciation of manufacturing plant and equipment is included in the costs of conversion of inventories (see MFRS 102). Similarly, depreciation of property, plant and equipment used for development activities may be included in the cost of an intangible asset recognised in accordance with MFRS 138 Intangible Assets. Depreciable amount and depreciation period 50 51 The depreciable amount of an asset shall be allocated on a systematic basis over its useful life. The residual value and the useful life of an asset shall be reviewed at least at each financial year-end and, if expectations differ from previous estimates, the change(s) shall be accounted for as a change in an accounting estimate in accordance with MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors. Depreciation is recognised even if the fair value of the asset exceeds its carrying amount, as long as the asset’s residual value does not exceed its carrying amount. Repair and maintenance of an asset do not negate the need to depreciate it. The depreciable amount of an asset is determined after deducting its residual value. In practice, the residual value of an asset is often  insignificant and therefore immaterial in the calculation of the depreciable amount. The residual value of an asset may increase to an amount equal to or greater than the asset’s carrying amount. If it does, the asset’s depreciation charge is 46 47 48 49 52 53 54 576  © IFRS Foundation MFRS 116 zero unless and until its residual value subsequently decreases to an amount below the asset’s carrying amount. 55 Depreciation of an asset begins when it is available for use, ie when it is in the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale (or included in a disposal group that is classified as held for sale) in accordance with MFRS 5 and the date that the asset is derecognised. Therefore, depreciation does not cease when the asset becomes idle or is retired from active use unless the asset is fully depreciated. However, under usage methods of depreciation the depreciation charge can be zero while there is no production. The future economic benefits embodied in an asset are consumed by an entity principally through its use. However, other factors, such as technical or commercial obsolescence and wear and tear while an asset remains idle, often result in  the diminution of the economic benefits that might have been obtained from the asset. Consequently, all the following factors are considered in determining the useful life of an asset: (a) expected usage of the asset. Usage is assessed by reference to the asset’s expected capacity or physical output. 56 (b) expected physical wear and tear, which depends on operational factors such as the number of shifts for which the asset is to be used and the repair and maintenance programme, and the care and maintenance of the asset while idle. (c) technical or commercial obsolescence arising from changes or improvements in production, or from a change in the market demand for the product or service output of the asset. (d) legal or similar limits on the use of the asset, such as the expiry dates of related leases. 57 The useful life of an asset is defined in terms of the asset’s expected utility to the entity. The asset management policy of the entity may involve the disposal of assets after a specified time or after consumption of a specified proportion of the future economic benefits embodied in the asset. Therefore, the useful life of an asset may be shorter than its economic life. The estimation of the useful life of the asset is a matter of judgement based on the experience of the entity with similar assets. Land and buildings are separable assets and are accounted for separately, even when they are acquired together. With some exceptions, such as quarries and sites used for landfill, land has an unlimited useful life and therefore is not depreciated. Buildings have a limited useful life and therefore are depreciable assets. An increase in the value of the land on which a building stands does not affect the determination of the depreciable amount of the building. If the cost of land includes the costs of site dismantlement, removal and restoration, that portion of the land asset is depreciated over the period of benefits obtained by incurring those costs. In some cases, the land itself may 58 59  © IFRS Foundation 577 MFRS 116 have a limited useful life, in which case it is depreciated in a manner that reflects the benefits to be derived from it. Depreciation method 60 61 The depreciation method used shall reflect the pattern in which the asset’s future economic benefits are expected to be consumed by the entity. The depreciation method applied to an asset shall be reviewed at least at each financial year-end and, if there has been a significant change in the expected pattern of consumption of the future economic benefits embodied in the asset, the method shall be changed to reflect the changed pattern. Such a change shall be accounted for as a change in an accounting estimate in accordance with MFRS 108. A variety of depreciation methods can be used to allocate the depreciable amount of an asset on a systematic basis over its useful life. These methods include the straight-line method, the diminishing balance method and the units of production method. Straight-line depreciation results in a constant charge over the useful life if the asset’s residual value does not change. The diminishing balance method results in a decreasing charge over the useful life. The units of production method results in a charge based on the expected use or output. The entity selects the method that most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. That method is applied consistently from period to period unless there is a change in the expected pattern of consumption of those future economic benefits. 62 Impairment 63 To determine whether an item of property, plant and equipment is impaired, an entity applies MFRS 136 Impairment of Assets. That Standard explains how an entity reviews the carrying amount of its assets, how it determines the recoverable amount of an asset, and when it recognises, or reverses the recognition of, an impairment loss. [Deleted by IASB] 64 Compensation for impairment 65 Compensation from third parties for items of property, plant and equipment that were impaired, lost or given up shall be included in profit or loss when the compensation becomes receivable. Impairments or losses of items of property, plant and equipment, related claims for or payments of compensation from third parties and any subsequent purchase or construction of replacement assets are separate economic events and are accounted for separately as follows: (a) impairments of items of property, plant and equipment are recognised in accordance with MFRS 136; 66 578  © IFRS Foundation MFRS 116 (b) derecognition of items of property, plant and equipment retired or disposed of is determined in accordance with this Standard; (c) compensation from third parties for items of property, plant and equipment that were impaired, lost or given up is included in determining profit or loss when it becomes receivable; and (d) the cost of items of property, plant and equipment restored, purchased or constructed as replacements is determined in accordance with this Standard. Derecognition 67 The carrying amount of an item of property, plant and equipment shall be derecognised: (a) on disposal; or (b) when no future economic benefits are expected from its use or disposal. 68 The gain or loss arising from the derecognition of an item of property, plant and equipment shall be included in profit or loss when the item is derecognised (unless MFRS 117 requires otherwise on a sale and leaseback). Gains shall not be classified as revenue. However, an entity that, in the course of its ordinary activities, routinely sells items of property, plant and equipment that it has held for rental to others shall transfer such assets to inventories at their carrying amount when they cease to be rented and become held for sale. The proceeds from the sale of such assets shall be recognised as revenue in accordance with MFRS 118 Revenue. MFRS 5 does not apply when assets that are held for sale in the ordinary course of business are transferred to inventories. The disposal of an item of property, plant and equipment may occur in a variety of ways (eg by sale, by entering into a finance lease or by donation). In determining the date of disposal of an item, an entity applies the criteria in MFRS 118 for recognising revenue from the sale of goods. MFRS 117 applies to disposal by a sale and leaseback. If, under the recognition principle in paragraph 7, an entity recognises in the carrying amount of an item of property, plant and equipment the cost of a replacement for part of the item, then it derecognises the carrying amount of the replaced part regardless of whether the replaced part had been depreciated separately. If it is not practicable for an entity to determine the carrying amount of the replaced part, it may use the cost of the replacement as an indication of what the cost of the replaced part was at the time it was acquired or constructed. The gain or loss arising from the derecognition of an item of property, plant and equipment sha ll be determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item. 68A 69 70 71  © IFRS Foundation 579 MFRS 116 72 The consideration receivable on disposal of an item of property, plant and equipment is recognised initially at its fair value. If payment for the item is deferred, the consideration received is recognised initially at the cash price equivalent. The difference between the nominal amount of the consideration and the cash price equivalent is recognised as interest revenue in accordance with MFRS 118 reflecting the effective yield on the receivable. Disclosure 73 The financial statements shall disclose, for each class of property, plant and equipment: (a) the measurement bases used for determining the gross carrying amount; (b) the depreciation methods used; (c) the useful lives or the depreciation rates used; (d) the gross carrying amount and the accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period; and (e) a reconciliation of the carrying amount at the beginning and end of the period showing: (i) (ii) additions; assets classified as held for sale or included in a disposal group classified as held for sale in accordance with MFRS 5 and other disposals; acquisitions through business combinations; increases or decreases resulting from revaluations under paragraphs 31, 39 and 40 and from impairment losses recognised or reversed in other comprehensive income in accordance with MFRS 136; impairment losses recognised in profit or loss in accordance with MFRS 136; impairment losses reversed in profit or loss in accordance with MFRS 136; (iii) (iv) (v) (vi) (vii) depreciation; (viii) the net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity; and (ix) other changes. 580  © IFRS Foundation MFRS 116 74 The financial statements shall also disclose: (a) the existence and amounts of restrictions on title, and property, plant and equipment pledged as security for liabilities; (b) the amount of expenditures recognised in the carrying amount of an item of property, plant and equipment in the course of its construction; (c) the amount of contractual commitments for the acquisition of property, plant and equipment; and (d) if it is not disclosed separately in the statement of comprehensive income, the amount of compensation from third parties for items of property, plant and equipment that were impaired, lost or given up that is included in profit or loss. 75 Selection of the depreciation method and estimation of the useful life of assets are matters of judgement. Therefore, disclosure of the methods adopted and the estimated useful lives or depreciation rates provides users of financial statements with information that allows them to review the policies selected by management and enables comparisons to be made with other entities. For similar reasons, it is necessary to disclose: (a) depreciation, whether recognised in profit or loss or as a part of the cost of other assets, during a period; and (b) accumulated depreciation at the end of the period. 76 In accordance with MFRS 108 an entity discloses the nature and effect of a change in an accounting estimate that has an effect in the current period or is expected to have an effect in subsequent periods. For property, plant and equipment, such disclosure may arise from changes in estimates with respect to: (a) residual values; (b) the estimated costs of dismantling, removing or restoring items of property, plant and equipment; (c) useful lives; and (d) depreciation methods. 77 If items of property, plant and equipment are stated at revalued amounts, the following shall be disclosed: (a) the effective date of the revaluation; (b) whether an independent valuer was involved; (c) the methods and significant assumptions applied in estimating the items’ fair values; (d) the extent to which the items’ fair values were determined directly by reference to observable prices in an active market or recent market transactions on arm’s length terms or were estimated using other valuation techniques;  © IFRS Foundation 581 MFRS 116 (e) for each revalued class of property, plant and equipment, the carrying amount that would have been recognised had the assets been carried under the cost model; and the revaluation surplus, indicating the change for the period and any restrictions on the distribution of the balance to shareholders. (f) 78 In accordance with MFRS 136 an entity discloses information on impaired property, plant and equipment in addition to the information required by  paragraph 73(e)(iv)–(vi). Users of financial statements may also find the following information relevant to their needs: (a) the carrying amount of temporarily idle property, plant and equipment; 79 (b) the gross carrying amount of any fully depreciated property, plant and equipment that is still in use; (c) the carrying amount of property, plant and equipment retired from active use and not classified as held for sale in accordance with MFRS 5; and  (d) when the cost model is used, the fair value of property, plant and equipment when this is materially different from the carrying amount. Therefore, entities are encouraged to disclose these amounts. Transitional provisions 80 The requirements of paragraphs 24–26 regarding the initial measurement of an item of property, plant and equipment acquired in an exchange of assets transaction shall be applied prospectively only to future transactions. Effective date 81 An entity shall apply this Standard for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. If an entity applies this Standard for a period beginning before 1 January 2005, it shall disclose that fact. An entity shall apply the amendments in paragraph 3 for annual periods beginning on or after 1 January 2006. If an entity applies MFRS 6 for an earlier period, those amendments shall be applied for that earlier period. MFRS 101 Presentation of Financial Statements (IAS 1 Presentation of Financial Statements as revised by IASB in 2007) amended the terminology used throughout MFRSs. In addition it amended paragraphs 39, 40 and 73(e)(iv). An entity shall apply those amendments for annual periods beginning on or after 1 January 2009. If an entity applies MFRS 101 (IAS 1 revised by IASB in 2007) for an earlier period, the amendments shall be applied for that earlier period. 81A 81B 582  © IFRS Foundation MFRS 116 81C MFRS 3 Business Combinations (IFRS 3 Business Combinations as revised by IASB in 2008) amended paragraph 44. An entity shall apply that amendment for annual periods beginning on or after 1 July 2009. If an entity applies MFRS 3 (IFRS 3 revised by IASB in 2008) for an earlier period, the amendment shall also be applied for that earlier period. Paragraphs 6 and 69 were amended and paragraph 68A was added by Improvements to MFRSs (Improvements to IFRSs issued by IASB in May 2008). An entity shall apply those amendments for annual periods beginning on or after 1 January 2009. Earlier application is permitted. If an entity applies the amendments for an earlier period it shall disclose that fact and at the same time apply the related amendments to MFRS 107 Statement of Cash Flows. Paragraph 5 was amended by Improvements to MFRSs (Improvements to IFRSs issued by IASB in May 2008). An entity shall apply that amendment prospectively for annual periods beginning on or after 1 January 2009. Earlier application is permitted if an entity also applies the amendments to paragraphs 8, 9, 22, 48, 53, 53A, 53B, 54, 57 and 85B of MFRS 140 at the same time. If an entity applies the amendment for an earlier period it shall disclose that fact. 81D 81E Withdrawal of other pronouncements 82 83 [Deleted by MASB] [Deleted by MASB]  © IFRS Foundation 583 MFRS 116 Deleted IAS 16 text Deleted IAS 16 text is produced for information only and does not form part of MFRS 116. Paragraph 82 This Standard supersedes IAS 16 Property, Plant and Equipment (revised in 1998). Paragraph 83 This Standard supersedes the following Interpretations: (a) SIC-6 Costs of Modifying Existing Software; (b) SIC-14 Property, Plant and Equipment—Compensation for the Impairment or Loss of Items; and (c) SIC-23 Property, Plant and Equipment—Major Inspection or Overhaul Costs. 584  © IFRS Foundation

Great Expectations Essay

Great Expectations is the story of distortion expectations cause to judgment. Pip was by nature more inclined towards the stable and moral nature of Joe. It took a long journey of life with some very interesting interludes to make him realize that the influence of Mrs. Havisham was a passing cloud while the influence of Joe was the bellwether that defined the values he can identify his life with. It is an established fact that Dickens uses very obvious doubles and symmetry-building coincidences in his novels. But in this context, it can be argued that Dickens has created two antithetical characters that define the dilemmas of Pip. Joe and Mrs. Havisham can be considered antithetical in almost all respects. In gender, in temperament, in the ways that they handle the hand dealt by fate and the way they go about spreading their life’s philosophies. They are diametrically opposite and this causes the under-current of the Yo-Yo effect experienced by Pip through out his life. In the end it turns out that Joe’s influence on Pip’s character is stronger and that enables the young man to acquire and maintain equanimity in the face of severe odds. It is important to understand the motivations of the two primary characters that have influenced Pip’s perception of the world around him. In his initial days he was Je was his best friend. In spite of his lowly station in life of a blacksmith and the misfortune f beng tied to a shrewish wife, (Pip’s sister), Joe could retain a sense of contentment with his life and he instilled the pleasures of small gestures of Joy in human life and the value of honest, and dedicated effort towards one’s vocation. Where as Mrs. Havisham is stuck in a time warp and insists on having all the clock’s the â€Å"Satis House†, her mansion stuck at twenty minutes past nine, the same time she learnt that she had been unceremoniously dumped on the day of her wedding. She clings to the fading wedding dress more to remind herself of the injustice her bride groom inflicted on her. Further she adopts Estelle, only to groom her to break men’s hearts and grow insensitive to the possibility of true and faithful love. This is a basic difference in the characters of the two primary influences on young Pip. To the young mind of Pip, the melancholy haunting of the Satis house and the perennial mourning of Mrs. Havisham carry more romantic appeal than the robust and lively philosophy of his brother-in-law. While Joe advocates the cheer of accepting the cards dealt by destiny, Mrs. Havisham chooses to make her misery the constant chant of her life and the driving motivation. In the first stage of expectations, Pip is enamored with Estelle and he sees acquisition of a higher standard in life surrounding the existing class system and the presence of money power to be a prerequisite to happiness. He goes on to forget his station in life until a rude reminder comes in the form of Mrs. Havisham’s instructions that he should be taking up apprenticeship with Joe. This rude jolt leads Pip to unreasonably resent the kind hearted Joe and his own low living standard. He then discovers that he has been left a sizable fortune and leaves to London to be groomed to become a gentleman. It is here that he meets people like Brentley Drummle, who remain brutish in spite of the inherited wealth and apparent grooming and culture. This stage in the expectations for Pip is marked by the absence of Joe but it is the influence of Joe’s grooming that he is constantly plagued by guilt when he learns that his benefactor is the same convict who had induced him to steal form his own house when he was a kid. The reference points for the values to be followed in life, in the case of Pip are steeped in the common justice notions of Joe. Towards the end of the novel, however, Mrs. Havisham recognizes her folly and confesses to Pip that in her hunger for revenge, she inflicted the same pain as she had experienced on Pip by making Estelle be aloof to him and ultimately marry Drummle. It is worthy to note that the confession comes at a time when Pip is highly disturbed by his aspiration of a higher standard in life and the attached disappointments ad uncertainties he experiences in its quest. If he is able to forgive Mrs. Havisham and even make a heroic effort to save her from fire, it is the rustic goodness instilled in him by Joe, not through long lectures but by example of a fruitful life, led with contentment in the service of others. The reconciliation at the end of the novel, the second and the most popular ending (the characteristic happy ending of Dickens). Mrs. Havisham lives all her life by the terms of remorse, revenge and recrimination. While Joe leads his life in an uncomplicated way to enable people around him to blossom on their own. This during the early years of Pip helps form the moral core that makes Pip a heroic character. It is important to notice that the two characters or the two major influences are majorly contradictory. Mrs. Havisham mourns while Joe makes peace with his world. Ms. Havisham wants revenge, while Joe would rather forgive and forget. Mrs. Havisham is ready to sacrifice another life to further her dearly held wishes of retribution on male species, while Joe still retains faith in his ability to love even after having a shrewish wife in whose care he leaves no stone unturned. After her death and without undue haste he remarries Biddy reaffirming his faith in human goodness. Pip’s actions and his motivations of kindness towards the convict, Mrs. Havisham, and later towards Estelle in the end of the novel speak more about the positive and warm influence of Joe Grager, his brother-in-law, than the scheming or desolate influence of Mrs. Havisham

Politics in Modern Film (V for Vendetta)

The film I focused on for this essay, V for Vendetta, was filmed and produced in 2006 by Warner Brothers. The plot of the film circulates around a mysterious and charismatic masked freedom fighter being hunted down by the totalitarian British government in the near future. Although his full identity is kept a mystery throughout the film, audiences learn he was a victim of a cruel scientific experiment involving â€Å"unwanted† British citizens and hormonal drugs.He spends decades planning out his revenge on those involved. While making preparations for both his revenge and a nation-wide revolution, the character known only as V has a run-in with a young woman working for the broadcasting station he later taking hostage. The day he takes the station hostage, the woman named Evey recognizes him as the same man who rescued her one night from crooked British patrolmen prowling the streets. Evey comes to his aid as V is almost caught and she is knocked unconscious in the process.Th e rest of the film leads audiences into the ever-thickening plot as a detective investigates and attempts to track down the â€Å"terrorist† only to discover an even more sinister power behind the deaths of thousands of British citizens: their own government. Putting this film into a category based on its intended audience was a challenge. The film expresses values both of the mass and subgroup categories. The values shown are ones that indirectly praise American government for its constitutional rights of religion, press and speech, but it also promotes ideas of anarchy.Although both views have their strong arguing points in the film, I believe this film expressed more mass values. This is because the criteria for subgroup values demands that the public must be largely portrayed as being stupid and counter-active to the goal at hand. However, in this film, V must rely solely on the public‘s participation in order to carry through his vision of freedom. In a televised s peech to the populace, V makes claims that have resounding similarities to our Constitution and Declaration of Independence. Fairness, justice and freedom are more than words. They are prospectives. † He says. This is, in my mind, one of the most profound quotes in the film, behind his other statement that †people should not be afraid of their governments; governments should be afraid of their people. † The timing of the film and its statements on war point directly to America’s involvement in the war on terror and to President George Bush. The movie was filmed in 2005, only two years after the official war in Iraq was launched.The High Chancellor in the film, Adam Suttler, is described as being an ultra-conservative man with no understanding of political process. This parallel seems to encourage a commonly debated political theme pointed out in the White House by Americans opposed to the invasion and the war overseas. The film even makes a blatant statement about America being in an on-going war that deprived it of its wealth and resources. A line reads: â€Å"They were a country who had everything, absolutely everything; and now, 20 years later is what?The world’s biggest leaper colony. † There are still many Americans today who have strong aversion to the presence of American military forces in Iraq and Afghanistan. â€Å"The Voice of England†, the a man revered as the biggest spokesperson in the English broadcasting sector, delivers a line in the film as he goes down the list of people unwanted and banished from the country’s boarders. This list, in addition to teens with sexually transmitted diseases and homosexuals, names Muslims specifically.In 2005, there was still unease in America about Muslim-Americans and risks they might pose to national security, much like the unrest about American-Japanese citizens that marked the time after the onset of World War II. Detective Finch, the detective working the V case to track him down before the revolutionary date, has a discussion with his partner after unearthing facts about the government. â€Å"If your government was responsible for the deaths of almost a hundred thousand people, would you really want to know? This observation has striking similarity to theories voiced by a small portion of society who claim the attacks on the World Trade Center were carried out by our own government. The number 5 is a common theme in the film: the number of V’s cell in the concentration camp, the fifth of November being the date of the revolution, and the number of branches to the British government [they call the branches the nose, eyes, finger, ear and mouth]. This is also the number of branches of our military: The Army, the Marine Corps, the Navy, the Air force and Homeland Security Coast Guard.Whether or not this parallel is intentional, it is one I noticed. A blacklist is also mentioned in the film after Chancellor Suttler demands the 1812 Overture, which played during the Old Bailey Statue’s explosion, be added to the back list so he may â€Å"never hear it again. † This is the only Cold War reference in the film which tells me is was intended to be a more general statement about government censorship and control of information made available to the public.One political, or even social, statement made in the film that I agree with is Finch’s statement about how this †terrorist† still has human emotions, shown by his taking and protection of Evey after she rescues him. I believe one man’s terrorist is another man’s freedom fighter and people will always be at odds with each other. It is important to remember that even the most violent people do have passions and concerns. When one fights that hard for something, it obviously means a great deal to them. People are quick to forget about the humanity element in wars.During the investigation, Finch and his partner watch V on a video monitor as he stands over Evey’s unconscious body. Finch’s partner says, â€Å"He’s a terrorist. You can’t expect him to act like you or me. † Finch, who sees that V took the girl to protect her out of compassion, responds with â€Å"some part of him is human†. Another statement made that I agreed with was one that also amused me. Detective Finch is searching for records of the concentration camp that supposedly imprisoned V years ago, but has little luck finding any.He says, â€Å"One thing is true of all governments; the most reliable records are tax records. † Isn’t that true? This movie used many effective avenues of media to reach its audience. It included and alluded to several other pieces of literature and music within the film itself, which was a very clever device used to influence audience members to explore those hints individually. Literature seen in the film like â€Å"The Count of Mote Cristo† and the theatrical play â€Å"Faust† may also hold clues to political statements made even more subliminally in the film if evaluated within the context.

Business plan for chinese restaurant Essay Example | Topics and Well Written Essays - 5000 words

Business plan for chinese restaurant - Essay Example The owners wanted to provide the market, students from the University and nearby places, with an option for a quick-service restaurant that offers quality food at an affordable price. As an added novelty, the owners will add a twist to the product line by fusing oriental Chinese cuisine with western food to give customers something to rave about and come back for. The main vehicle for its Marketing is online advertising, utilizing the internet as a main tool in engaging the potential customers and enticing them into sampling the products. Social media and search engine optimization tools shall be utilized to enable the company to have a wider reach and focused marketing. II. Market Opportunity/ Problem Definition 1. Customer Value Proposition Mr. Choi’s Kitchen will appeal to customers who are always on the go because the business will adapt a fast food concept and pacing. Clients will spend little time to wait for their ordered food. This set up is best for busy students, you ng professionals and young married couples who have the buying capacity and would want to enjoy classic Chinese food without the frills and fuss offered by the usual Chinese restaurants. Owners have already made initial implementation plans targeting university students. The initial plan was to bring the Chinese restaurant set up to the universities, which is our target market. This restaurant shall be complete with sit down and dine in amenities. Mr. Choi’s Kitchen targets the young crowd with its East meets west and fast food concept. These are people who are always on the go, and would most likely appreciate food being served fast. In this case, they can choose their dishes from among the wide array of food products to be served ala-carte. 2. Customer Landscape Our target market is college students who need a quick and healthy lunch or dinner during their busy school time and interested in Asian food. In the year of 2012, there are 39,236 students and 12,053 employees in t he University of Arizona. This is our primary target market. They are a busy group of people who would prefer the service of a fast food chain. They are constrained by time due to school work, and are highly mobile. They also have a penchant for quick service. This figure does not include other potential customers such as employees working in companies around University of Arizona or downtown of Tucson. The number of residents around the campus within one mile radius is about 20,000. 3. Industry Dynamics There are over 600,000 restaurants and food shops in the United States. Gross annual receipts total more than $ 172 billion dollars per year (National Restaurant Association 2012). It is one of the country’s largest grossing industries. The food industry also employs over ten million people, and generates an annual payroll of more than $ 34 Billion per year. In the article â€Å"How and Where America Eats†, more than 40% of American families eat out at least one night per week. Americans, on the whole, have also become much busier. More and more families now have two incomes and as such, the tradition of staying at home and cooking meals is vanishing. Among these establishments, a significant part offer Chinese cuisine as their food genre. 4. Competitive Landscape Our main competitors include Panda Express in the Student Union, Jimmy Johns on Park Ave., Chipotle Mexican Grill on University Blvd, and Bagel Talk in Park Student Union. They either have the similar business model or

Government in Canada should continue to fund and support supervised Research Paper

Government in Canada should continue to fund and support supervised drug-injection sites - Research Paper Example Public has gained awareness regarding the treatment and safe use of the drugs (RCMP, 1969). Patients of these facilities are called â€Å"off the street† users hence decreasing public use. Patients here are forced to use sterilized syringes therefore minimizing the danger of spread of disease from one addict to another. Another benefit from this facility is that they allow their users to enter into a Detox program. The facility prevents patient frm overdosing and even if they do they are under supervision and good health care. (RCMP, 1969) Vancouver’s Insite was the first supervised injection sites in North America. It was set up in 2003 to serve the injection drug users in large number. They serve by providing sterilized needles and a hygienic place for the drug addicts to use hard drugs. The room in Insite consists of 12 booths where nurses assist you to find vein and inject properly under medical supervision. Nurses further help patients to filter drugs so that they can avoid overdoses. They provide health facilities to the homeless and sufferers.400 overdoses have been reported in the clinic but none died. Counselors are present to help patients who want to change their lives. Vancouver’s Insite has 275,000 visitors yearly costing federal government around $500,000 in addition to budget allocated provincially. (Anthony, 2006) The Canadian Expert Advisory Committee in 2008 evaluation of Insite concluded that each year 108 lives are saved by the facility. Drug Free Australia declares that the European Monitoring Centre EMCDDA technique, applied with Canadian assumptions and data give way to the same findings. Canadian heroin deaths in 2002-3 was almost the same as Australia’s (958 fatality from over 80,000 marginalized heroin users) and death percentages for 2006-07, according to Drug Free Australia has been changed drastically. Furthermore, Expert Advisory Committee assumes that a typical Canadian heroin addict injects 4 times in a day so 100 Canadian heroin addicts would collectively inject 146,000 times in a year. Insite would turn away the fatality of the one injection in 146,000 injections which would most likely be fatal. (Popova, 2006) Insite was given a constitutional exemption from the Controlled Drugs and Substances Act in 2003, by the liberal Government permitting the customers and the wor kers to stay away from criminal offenses while working at or availing the facility. Health Canada provided financial support to the program evaluating it as a pilot scheme in harm reduction. This exemption expired in 2008 where the conservative government refused to extend the exemption from the act. Health Minister Tony Clement argued that the safe injection sites are diversions from treatment. (Anthony, 2006) The Supreme Court in September 2011 announced that Vancouver's Insite can stay open. The court stated that it would be a violation to the Charter of Right and Freedom if they don’t allow the Insite clinics to operate. Order was passed for the Federal Minister of health to grant an exemption from Controlled Drugs and Substances Act immediately. The Supreme Court was convinced by proof that drug addicts are significantly

Pearl Group of India Case Study Example | Topics and Well Written Essays - 4750 words

Pearl Group of India - Case Study Example In the situation where world markets are contracting due to the recession the company needs to rectify the situation immediately or it is like to suffer irreversible losses. Â  The company has ample resources but the Board of Directors is convinced that some of its resources need to be reviewed for efficiency and results. To achieve such Functional capability and efficiency, the Board mandated the management to organize all its operations that were spread over a wide geographical area. They were given a time frame of twelve months to complete this exercise. Â  It is understood that the way to achieving efficiencies lies in Technology up-gradation. This was the most important, yet the weakest of all resources they have. To overcome this issue it was agreed that the best option was to have an integrated ERP solution and to discard the several smaller software packages. This would result in the seamless flow of data from point to point and instant information will be possible. This would form the backbone of the efficient organization. The ERP would provide the required system that was missing and would bring back resilience and efficiency in the organization. Most losses occur due to bad decisions that rely on inaccurate data or on assumptions only; therefore the biggest benefit of an ERP is whoever receives a meaningful report is able to take informed decision and thus ensure an increase in productivity and profits. Â  Use of computers has become universal and small packages have been developed to Inventory Management system. These are very versatile and give good and fast results and perform well when used in smaller organizations. When large organizations use them they are found short of requirements on several counts.

Disagree with China will Become a Democracy within 10-15 Years Speech or Presentation

Disagree with China will Become a Democracy within 10-15 Years - Speech or Presentation Example To have a literal meaning of the phenomenon, we might say that the word democracy entails two connotations. Firstly, it means implementation of a political idea that the government should be by the people and for the people (Mosley, pp.5, 2003). Second definition is rather difficult to implement. It means that despite all the distinctive ideas and interest of the subjects, implementation of things contends all kinds of ‘people’. In reality, this is undoubtedly not possible (Mosley, pp.5-6, 2003) Giving a thorough analysis to the phenomenon of democracy and the theories of democratization, we come to realize that democracy is something when the individual comes to realize his basic rights to think and feel free to express the same (Zhao, pp.9, 1998). Precisely, it means to have an opinion without any form of influence and suppression. Moreover, in a broader perspective, it means to follow an election procedure though which a consensus is created upon the election of a par ticular leader. However, in an otherwise case, the people with feudal mindsets have a selection process and the position and title are shared and passed on to the same family members. Following are some of the major points endorsing the fact that China cannot achieve democracy in the next ten years or so: As it is, democracy starts with speaking about the truth publicly and having your voice heard by others. This job is foremost performed the media practitioners or journalists who act as a watchdog to expose the injustice or wrongdoings of the state and the lawmakers. However, seeing China’s situation we can evidently make a thorough analysis of the fact that Chinese journalism never received freedom to any extent. In the mid-1980s, for the first time Chinese journalists thought to register their collective voice to the government to give them rights to speak the truth so that the countrywide corruption that has taken an official form could be suppressed (Zhao, pp.1-2, 1998). On the contrary, not only was their movement not heard but also they faced violent circumstances and torture and the streets of Beijing that turned into bloodshed in 1989 is a clear-cut example of this. Speaking about the same restrictions over press, it is notable to mention that when America’s Newsweek magazine used to come to China, articles and stories that reported China’s internal situation, either political or social, were torn out so that none of the citizen could have access to what is going on within the bureaucracy (Zhao, pp.2-4, 1998). The major hold of the Communist Party over China, nevertheless, keeps on boosting about their governance and wants to endorse that media is working as their mouthpiece while secretly suppressing them. In short, Chinese media willingly or unwillingly works to cater to the increasing demands of its authoritarian rulers to propagate their ideas and instill the doctrines that they want their subjects to follow. Secondly, the cen tralization of power in China is the result of once decentralized China a few decades ago, that becomes one more reason for the country not able to make itself democratic in the next few years. In 1978, China’s economic reforms began to take place that started from the rural areas and expanded to urban areas. It all started with private trading of farming and agricultural products in the countryside and then taking alongside the urban businesses with more production with the help

Cultural dversity Essay Example | Topics and Well Written Essays - 750 words

Cultural dversity - Essay Example One of the demographic changes in United States organization is the increase in immigration. The United States has a higher incidence of immigration than any other country in the world. For example, in 2002 alone, over a million people moved into the U.S from. Of these, the biggest percentage came from Mexico with China closely following. It is important for any organization to understand the effects of immigration. Immigration has the ability of changing a countrys demographic composition, thus affecting the culture. For any organization such as The American Red Cross, immigration serves to increase the amount supply of labor especially for less-skilled occupations. With the increased labor supply, the organization wages and salary policy is affected. The company would therefore, offer lower wages for employees in low-paying less-skilled occupations. Because of the job competition brought about by the immigrants, it is not a surprise to see the less educated workers having a negativ e view of the immigrants hence conflicts in the organization (Mankiw, 1998). Increase in the birthrate would also affect the organization in various ways. Currently, the US is experiencing a low birth rate across all races or ethnic groups. In recent decades, especially from 1990, the birth rate has registered a decline. For example, the birth rate for a Latina woman dropped from 3.0 in 1990 to 2.4 in 2010 (Lerman and Schmidt,1999, p.2). The other racial groups show similar results over the period. A future increase in birth rates will lead to an increase in population growth. A proportionate increase in the supply of the labor force accompanies such rapid population growth. This implies that the rate of job creation should match the rate of labor supply in United States. However, the rate of labor supply outstrips that of job creation. This shows that the quantity of individuals looking

Ireland is ready to import automobiles Essay Example | Topics and Well Written Essays - 1250 words

Ireland is ready to import automobiles - Essay Example Conclusions can be drawn from this: Fiscal policy was tight and yet the crisis happened, and ironically, entry into the eurozone can be harmful. â€Å"Again, the debt overhang would be huge, under any plausible assumptions. Ireland is doomed to fiscal stringency for decades, given its poor growth prospects, at least in comparison with its Tiger years† (Wolf, 2011). But, despite the dire straits, Ireland is exiting the recession (Fottrell, 2010). And, since Ireland is unlikely to keep up with the need to produce automobiles, it will need to import them. Ireland is ready to import automobiles, or at least as ready as it ever will be. 2.1. Dire financial straits Ireland's crisis is of an immense magnitude. 50,000 people could leave the country in 2011, yet another wave in a series of exoduses stretching from early Irish settlers in North America to the Irish potato famine to the 1980s (McDonald, 2011). And unlike other generations of exodus, it is professionals and graduates leav ing the country. Jobs for graduates and professionals are scarce. The economy has shrunk by a tenth and unemployment is in the double digits (MacDonald, 2011). Yet the economy was host to, and still does have, Microsoft, Apple, Intel and Pfizer. The middle-class was expanded and grew upwards, almost all Irish sharing in the growth. Aside from the slowly turning upswing out of the recession, there are many other macro-economic indicators that point to the need to import cars. In 2010, the Irish auto market grew (Leggett, 2010). People who need to physically get places, industrial and service sector workers, are not the ones leaving the country. Industrial production is likely to slow, and Ireland's native car market will not be able to keep up with demand, even with the declining Irish population from the eventual exodus. It is clear, then, that Ireland is going to need to import cars. 2.2. Car finance options Despite the bad economy, British firms like Close Motor Finance are seeing a gap in the Irish market. â€Å"A UK-BASED MOTOR finance company, Close Motor Finance, is entering the Irish car finance market this week in an attempt to fill the gap it perceives to have been left after the withdrawal by some lenders and the tighter restrictions imposed by the remaining Irish finance houses† (Comyn, 2011). This is vital for the growth of the Irish car market because it allows consumers access to credit even when the native banks are facing serious risk. It also shows that external observers view the growth potential in the car market as palpable. This announcement is much-needed news for the Irish car market. â€Å"66 per cent of all sales in 2007 were financed by loans organised through the dealership with its favoured lending institution. By last year that had fallen to 44 per cent and from January to October of this year that had fallen to just 26 per cent of all its car sales† (Comyn, 2011). The vast majority of Irish consumers are being forced to seek out their own finance options. 2.3. Growing market for imports in Ireland The imported car market in Ireland is generally growing, albeit with mixed signals. Hispano Cars, â€Å"[t]he Irish firm that imported and distributed Seat vehicles†, lost the lucrative Seat contract, but this is because Volkswagen itself is deciding to push into the Irish market (Daly, 2011). Hispano Cars

Literature Essay Example | Topics and Well Written Essays - 750 words

Literature - Essay Example But when the stories of Oedipus and Othello are examined, we see that though both had defective understanding, their lack of insight lay in different circumstances and character traits. When faced with the scourge of plague, the Chorus in Oedipus Rex reacts with trepidation and indecisiveness: "My fearful heart twists on the rack and shakes with fear./ O Delian healer, for whom we cry aloud/ in holy awe, what obligation/ will you demand from me, a thing unknown/ or now renewed with the revolving years/ Immortal voice, O child of golden Hope, speak to me"! (Sophocles,185-191) But Oedipus is decisive and brave, and decides that he would find a solution for the crisis, and takes it upon himself to solve the whole problem almost single-handedly: " I will begin again; I'll find the truth./The dead man's cause has found a true defender/In Phoebus, and in you. And I will join you/ In seeking vengeance on behalf of Thebes/And Phoebus too; indeed, I must: if I/Remove this taint, it is not for a stranger,/ But for myself:...". (Sophocles,131,137)We see here the number of times the term "I" figures in this verse, and can measure the brash self-confidence of this King. And in this blind self-belief, Oedipus places a curse on the murderer, and though he spells out very closely the possibility that it might be someone from his own household, he makes an open declaration nevertheless: "I lay this curse upon him, that the wretch/In wretchedness and misery may live./And more: if with my knowledge he be found/ To share my hearth and home, then upon me/ Descend that doom that I invoke on him". (Sophocles, 248-252). He thus aggravates his future distress by laying the curse so stridently in public, not acknowledging to himself that he himself may be the murderer he is searching for. To any other person, the similarity of the old prediction about his own fate and the way this murderer is supposed to have acted, would have rung a bell. By now the situation is beyond remedy, of course, because he has unknowingly fulfilled the prophecy, and merely lacks the insight to see it. And at the moment he sees the truth, he blinds himself, quite literally. His uncertain vision lies in the fact that on one hand he heeds the voice of the Gods when they tell him about the plague, but not the one when he hears the dire prediction about himself, in his youth. One wonders what would have happened if Oedipus had not run from those he thought to be his parents, thus trying to avoid the prediction, or stayed his hand at murdering someone over a trifling dispute, or not married an older woman. In avoiding the prediction and not paying heed to it, he made it true, blind self-belief causes his uncertain vision. Shakespeare's Othello on the other hand is trusting, straight and impulsive, which causes his natural judgment to fail in his personal life. As Bradley puts it in extremely specific terms: "Othello's mind, for all its poetry, is very simple. He is not observant. His nature tends outward. He is quite free from introspection, and is not given to reflection. Emotion excites his imagination, but it confuses and dulls his intellect...... His trust, where he trusts, is absolute. Hesitation is almost impossible to him. He is extremely self-reliant, and decides and acts instantaneously. If stirred to indignation, as 'in Aleppo once,' he answers with one lightning stroke. Love, if he loves, must be to him the heaven where

Vark learning style Research Paper Example | Topics and Well Written Essays - 750 words

Vark learning style - Research Paper Example Nilson (2010) said that the VARK (visual, aural, read/write, and kinesthetic) learning style assessment emphasizes on learning styles that utilize an individual’s senses (sight, touch, hearing). Fleming and Mills (1992) were the ones who came up with these classifications that mirror their students’ knowledge, involvement, and encounter when it comes to learning. According to Fleming (2011), individuals’ learning preferences are respectively assessed in the VARK Learning Style Questionnaire. Information being portrayed in symbols, colors, and other means like pie charts and fish diagrams can be readily absorbed by a student with a high visual preference. Those who score high in the aural mode can better recognize information via verbal means or other forms of audible media. For them, their sense of hearing is quite utilized in understanding data. Learners who received high results in their reading and writing category may pick up facts best when these are express ed in written words. As its category suggests, a person in this mode may prefer reading texts a lot as well as writing them. In the kinesthetic learning preference, a person’s experience is crucial in indicating his learning progress. Students in this mode would like to move and practice the concepts so they can better grasp the ideas being presented to them. For this group, experience is indeed the best mentor. The results in this questionnaire can reveal a person’s potential in learning.... Nowadays, almost anything can be accomplished with just a lift of a finger or a push of a button. Information that could be communicated in an hour through lecture can be depicted through multimedia in just 5 minutes. This kind of scenario is invading homes and minds of people. When individuals enter the classroom, many of them get uninterested especially when the teacher merely employs a single mode of instruction. Many students may get perked up when there is an involvement of power point presentations with relevant videos or pictures. Other learners feel that they can actually learn more when experience is incorporated into the discussion. Each student may have his own unique way of learning. As an example, there is a student who gained a percentage of 13 in visual, kinesthetic, as well as reading and writing. He got a percentage of 8 in the aural category. Using VARK, stability may be acquired by encouraging an educator to utilize different kinds of strategies and materials to ad dress the varied preferences of young minds. The student in this situation may help himself by incorporating techniques in his studying lifestyle. Since this person is noticeably multimodal, he may prefer understanding the lesson with the use of pictures and other figures, word games and mnemonics, including different kinds of movement. For instance, he can draw symbols on the side of his notes to give him a clue regarding the topic’s essence. He can also come up with acronyms to help him enumerate certain processes. Walking while memorizing or practicing a speech may also be beneficial. Analysis People do not need to be bothered for a long time with this kind of assessment. Since this type of questionnaire just employs a few items, it can be quickly answered.

American Civil War Essay Example for Free

American Civil War Essay From the start of the Civil War until the end of the Reconstruction period, America faced what can be considered a revolution. During this time, many social and constitutional developments emerged and brought great change to the country. Social developments that contributed to the revolution were the Freedmen’s Bureau, the Ku Klux Klan, and the Black Codes. Constitutional events that sparked dispute were the three civil rights bills, the Emancipation Proclamation, and the reconstruction. Between 1860 and 1877, both constitutional and social developments merged to created drastic changes that threatened the balance of life in the United States, causing revolt throughout many Americans and bringing about reform to the nation. Before 1860, the United States was split into two sides fighting for power: the North and South. Slave states and free states were constantly competing for representation in Congress. In order to reduce conflict, the Missouri Compromise and the Compromise of 1850 were passed. Tensions lowered to a degree, but the compromises only delayed the inevitable discord. State’s rights was a critical topic during this time period. The south believed that they had the constitutional right to secede. After Lincoln was inaugurated in 1860, seven states seceded from the Union. Four more states followed after that. South Carolina, in particular, felt their rights had been stripped off of them, and challenged the Constitution of the United States. Document A) South Carolina feared the north would gain enough power that they would abolish slavery in the south, crippling their slave-based economy. This sequence of events induced the bloody Civil War, later leading to the enactment of the Emancipation Proclamation, which meant the freeing of slaves that were still under possession in 1863. Eventually, the 13th amendment, which abolished slavery, was passed. The end of the Civil War meant the end of bloodshed but the start of reconstruction of the nation. Although slaves were finally freed, it was still rough life for the freedmen. Some blacks felt betrayed by their own government. They were baffled at the fact that they fought for their nation but could not vote for their representatives. In the petition to the Union convention of Tennessee, it is stated that blacks were treated unfairly in court, as the courts would not even receive â€Å"negro testimony. † (Document C) Gideon Welles, Lincoln’s Secretary of the Navy wrote in a diary that the Federal Government has no control of whether or not blacks can vote; he felt it was up to the states to decide. Document D) In attempts to unite the nation, several acts were put into effect. The Freedmen’s Bureau, for example, was set up to help blacks read and write in order to counteract their disadvantages in education. It also provided food shelter, welfare, and medical attention to those affected by the war. Unfortunately, some acts were not in favor of the blacks, such as the Black Codes. The Black Codes prohibited blacks from renting land or e ven borrowing money to buy land. It also forced them to sign working contracts, synonymous to slavery. President Johnson felt that the Black Codes were necessary because he did not want America becoming â€Å"Africanized. † In a petition to the commissioner of the Freedmen’s Bureau, some African Americans felt their promised rights were being neglected. (Document E) On the other hand, political actions were taking place in the struggle for equal rights for all Americans. Republicans were taking control of government and were also ignoring the orders of President Johnson. Radical Republicans were struggling for equal rights throughout nation. In 1866, the Civil Rights Act was created. This act stated that African Americans were United States citizens, shielding them from the Black Codes, and essentially overriding the Dred Scott decision. Shortly after came the Civil Rights Act of 1866. The changing of the Constitution to include the 14th amendment was considered revolutionary. (Document F) President Johnson was impeached in 1868 due to 11 crimes and misdemeanors. He was the first president in history to get impeached. After his impeachment, blacks now started to receive more equal treatment. Blacks were finally able to vote in the 1868 election, which ended up giving the Republicans a victory. (Document G) The 15th amendment was also added to the Constitution, prohibiting any state from denying a citizen the right to vote. Although revolution was going positively throughout, the creation of the Ku Klux Klan was a negative addition. Their goal was to terrorize and scare blacks by force. (Document I) In 1870, Congress decided to ban these secret organizations and enforce the 14th and 15th amendments through the Force Acts. Document H) All in all, between 1860 and 1877, both constitutional and social developments caused great reform in America. Revolutionary ideas such as the freedom of slaves, anti-secession, and rebellion played a key factor throughout these years. The once estranged country was back on track as a unified whole. African Americans, as a result of constant struggle, gained their rights and freedom. It is safe to say that the United States faced a period of reconstruction, which amounted to the shaping of the country.

Copper Recovery Methods From Metallurgical Waste

Copper Recovery Methods From Metallurgical Waste REVIEW OF COPPER RECOVERY METHODS FROM METALLURGICAL WASTE Apurva Patel, Prof. Nimish Shah Abstract: Copper is one of the most used metals in recent developments and demand of this red metal is increasing with passing of each day. Production of copper is 12 million tons per year and copper reserves are expected to run for 25 years with the estimated world copper reserves of 300 million tons. Recovery of copper from metallurgical waste is a trend that is being followed from beginning of industrial age and has many developments over a large time frame. Out of all the copper used in existing process, 2 million tons of copper is utilized with recycling of copper waste. Copper ore reserve contribution of India is limited and extended up to 2 percent of world reserve. We can say that copper has a large amount at our reserves but excavation is not as simple as it seems. Copper content in the raw mines is ranging from 0.5 to 1 percent. Even after recovery of copper there is large waste generated at the end of the process. Copper content in the waste is up to 0.3 percent at the dis charge. Ultimately around hundred times of waste is generated for recovery of one part of copper. That pushes forward the need of recycling copper from metallurgical waste to cater the need of increasing copper demand. Copper recovery from high copper containing metallurgical wastes like brass industries are generally dealt with smelting process. In such case large amount of energy is utilized to just melt down all the material. This process has a limitation of copper content i.e. if copper content is low then all the energy is utilized in melting of undesired material. Demand for electroplating of copper has increased significantly. Low efficiency or improper process handling causes remarkably high copper content in waste discharge, which is over the range of discharge criteria of heavy metals. So to control the increasing price of metals and to limit the use of fresh copper, recycling must be done so the recovery from waste also gives the advantage of being in range of the allowab le government legislations. Though these hazardous heavy metals in electroplating waste having concentration high enough to give harmful impacts to environment but convincingly low concentration that is not enough to recover these metals effectively. In this paper, overview of different methods for copper recovery is illustrated and justified the selection of different methods over different copper content of various sources. Keywords— Copper extraction, Copper recovery, Electroplating, Recycling, I. INTRODUCTION Increasing demand of copper gives elevated chances for generating copper waste from different industries. There are thousands number of industries existing which includes utilization or processing of copper. In this paper, review of several most copper containing waste and most optimum copper recovery methods are described. Waste source is targeted which gives better possibilities of copper recovery and ease of operation. Several metallurgical source like; brass slag, copper converter slag, electroplating waste, bonze scrap and pickling solution is included in the study. II. Copper recovery from Copper slag There are different verities of slag produced from smelters for non-ferrous production. Major emphasis is given to copper slag as it has equal to or higher copper content compared to raw copper ore. Generation and utilization of copper slag has higher environment impacts compared to steel and iron slag as they contain remarkable quantity of heavy metals with higher solubility. Chemical composition of copper slag varies with different origins. Chemical composition is given as per Shen Forssberg, 2003[1] in table 1. TABLE I Chemical composition of copper slag There are specific three methods to recover copper from copper slag; Floatation, Leaching and Roasting Floatation Barnes (1993) [2] has given industrial floatation process at Mount Isa Mines Limited to recover copper from copper slag. Grinding operation is applied until obtain the granular size of 80%- 74  µm before floatation. Floatation is also feasible for magnetite present in the raw copper slag, so hydroxy ethyl cellulose is used in the process as a depressant of magnetite impurities. MIBC is used in the process as froather agent and sodium sec-butyl xanthate is used as a collector of copper from the waste. The result of this process gives concentrate grade copper with high percentage as 42.54%. Overall yield of such process is 82%. This experiment is observed for copper slag containing 3.7% copper. In this experiment most of Co is observed with floatation tail. Mainly, copper slag floatation is somewhat similar with sulfide ore floatation because of the fact that only metallic copper and sulfide minerals from the copper slag can only be effectively floated. In other slag copper is usually observed under oxide state and Co and Ni are also in oxide state because of its homogeneous distribution in the slag. So the stated method will not be utilized effectively with Co, Ni and oxide copper state. Therefore the span for the floatation process is reduced in size as less quantity of Co, Ni must be present in the slag or copper must not be in the form of oxide. Leaching Leaching is used with some leachants mainly hydrochloric acid, ferric chloride, ammonia, sulphuric acid etc. Basire at al anand at all [3]. In the initial era cyanide was also used but it was terminated because of its harmful effects to environment. Leaching is positively influenced by addition of H2O2, or leaching with Cl2/Cl system, or pressure leaching. Figure 1 shows effect of H2O2 on leaching of copper based on the experiments of Base metal recovery [4] Figure 1. Kinetics of copper recovery Graph showing metal recovery with highly oxidising agent like H2SO4 for copper slag. Experiment is carried out with 10% solid in solution and particle size less than 100  µm. Experiment is carried out at 70 oC and pH maintained at 2.5 with applied H2O2 at 35 L/(h.t) Pressure leaching has broadly described by anand et al [4]. Study shows that with pressure leaching and use of dilute H2SO4 recovery of copper about 90% achieved from copper converter slag from the initial concentration of 4.03% Cu. Roasting Roasting is actually one intermediate step which involves the process for converting the copper in desired form that can be easily separated from the raw material. After application of roasting, Leaching or floatation must be used to achieve desired separation. If we narrow down the process criteria then we can say a lot more specific term as sulfate roasting instead of roasting. In this process conversion of cupper cobalt ant nickel is taking place and transformed into more feasible soluble sulfates. Raw material is processed at 200-600 oC by addition of sulfide or sulfate agents. Then these soluble sulfates are dissolved in water and easily separated from slag. Some of the agents used in the process are, (NH3)SO4, H2SO4, H2S, pyrite etc. Sulfurization reactions are summarized as bellow. Cu2O + H2S = Cu2S + H2O †¦(1) 2Cu + H2S +  ½ O2 = Cu2S + H2O †¦(2) Sulfides of copper are then easily converted to soluble copper sulfate with roasting at 600oC. Ziyadanogullari used this method to treat copper slag containing 2.4% copper. By sulfurization in closed system with 140oC for 1 hour and then heating and roasting with 600oC for 360 minutes gives better result for recovery of copper up to 99.2%. SCHEMCON-20141 | Page