Dr. Abdus Salam :: biographies biography bio

Dr. Salam was born in the small village of Jhang, present day Pakistan in 1926 where he attended the first few years of school. His father was an official in the Department of Education for the poor farming district. A fast learner Dr. Salam attended the University of the Punjab at the age of 13 and at the age of 14 he received the highest numbers ever recorder for the Matriculation Examination at the university. Due to his outstanding grades he received a full scholarship to the Government College, University of Punjab. In 1946 he obtained his MA in physics and then that very same year he was awarded with a scholarship to St. John's College, Cambridge where he got a double BA with honors in mathematics and physics in 1949 and then a Ph. D in Theoretical Physics from Cambridge in 1952. At this point in his he had already received the Smith's Prize by the University of Cambridge for the most outstanding pre-doctoral contribution to physics (1950). Then in 1951 Dr. Salam returned to his roots to teach mathematics at the Government College, Lahore, Pakistan. Since Dr. Salam was a man who was very devoted to his religion and because he belonged to the Ahmadiyya Muslim sect, considered heretical by many Muslims, he decided to leave his beloved Pakistan when the stigma of being a part of the Ahmadiyya sect became too much and the realization that he would not be able to continue his research in physics in such conditions. So in 1954 Dr. Salam left Pakistan for a lectureship at Cambridge. After many years of contributions to the world of physics at many different schools and institutions, including, Cambridge, London University, Imperial College of London, Institute of Advanced Study in Princeton, and many others, in 1979 Dr. Salam received a Nobel Prize in physics for the work he had done in the electroweak theory, "which is the mathematical and conceptual synthesis of the electromagnetic and weak interactions-the latest stage reached until now on the path towards the unification of the fundamental forces of nature. Salam, Sheldon Glashow, and Steven Weinberg arrived at the theory independently and shared the prize." (http://en.wikipedia.org/wiki/Abdus_Salam). At this point he finally felt he had gotten the love of his beloved Pakistan and served on many Pakistani comities. Quantum Electrodynamics or QED is the quantum field theory which describes the properties of the electromagnetic forces. All forces or interactions of nature are thought to be comprised of 4 basic forces, Gravity, Electromagnetism, Strong nuclear force, and the Weak nuclear force.

Flag Desecration :: essays research papers

Flag Desecration Flag desecration is not American. People who burn the American flag lack respect for themselves, America, and the many people who have died to preserve American freedom. The people who desecrate the American flag have no right to call themselves Americans. They are unpatriotic, two faced, cowards, and worse of all un-American (communist). To be patriotic a person must love and defend his own country against all foreign and domestic threats. These unpatriotic people are two faced. They live in America with all its freedoms, and yet desecrate the most important symbol which holds America together: the flag. The way flag burners go about desecrating the American flag shows that they are not true Americans. Flag burners commit a morally unjust and hateful crime by desecrating the American flag. They are the first to hid behind the first amendment (Freedom of Speech). For people to say they have the right to burn the American flag, sighting their first amendment rights, t hey have some kind of warped sense of expression. If people continue to desecrate the American flag, it will lose its significance and value. From 1968 to 1989, politicians and true red blooded Americans understood how important it was to respect the American flag. Congress passed a law in which it prohibited desecration of the American flag in 1968. According to the law, it was illegal to cast contempt, either by word or act upon the American flag ((Federal law, 18 USC Sec. 700 States, 1968); Sec. 2(a). The law states that whoever knowingly casts contempt upon any flag of the United States by publicly mutilating, defacing, defiling, burning, or trampling upon it shall be fined, not more than $1,000 or imprisoned for not more than one year, or both, Sec. 2(b). The term "flag of the United States" as used in this section, shall include any flag, standard colors, ensign, or any picture or representation of either, or of any part or parts of either, made of any substance or r epresented on any substance by which the average person seeing the same without deliberation may believe the same to represent the flag, standards, colors, or ensign of the United States of America". In simple form, the law says that the American flag is to be revered and not abused in an act demeaned as unprofessional. The law was very strict and to the point. Flag Desecration :: essays research papers Flag Desecration Flag desecration is not American. People who burn the American flag lack respect for themselves, America, and the many people who have died to preserve American freedom. The people who desecrate the American flag have no right to call themselves Americans. They are unpatriotic, two faced, cowards, and worse of all un-American (communist). To be patriotic a person must love and defend his own country against all foreign and domestic threats. These unpatriotic people are two faced. They live in America with all its freedoms, and yet desecrate the most important symbol which holds America together: the flag. The way flag burners go about desecrating the American flag shows that they are not true Americans. Flag burners commit a morally unjust and hateful crime by desecrating the American flag. They are the first to hid behind the first amendment (Freedom of Speech). For people to say they have the right to burn the American flag, sighting their first amendment rights, t hey have some kind of warped sense of expression. If people continue to desecrate the American flag, it will lose its significance and value. From 1968 to 1989, politicians and true red blooded Americans understood how important it was to respect the American flag. Congress passed a law in which it prohibited desecration of the American flag in 1968. According to the law, it was illegal to cast contempt, either by word or act upon the American flag ((Federal law, 18 USC Sec. 700 States, 1968); Sec. 2(a). The law states that whoever knowingly casts contempt upon any flag of the United States by publicly mutilating, defacing, defiling, burning, or trampling upon it shall be fined, not more than $1,000 or imprisoned for not more than one year, or both, Sec. 2(b). The term "flag of the United States" as used in this section, shall include any flag, standard colors, ensign, or any picture or representation of either, or of any part or parts of either, made of any substance or r epresented on any substance by which the average person seeing the same without deliberation may believe the same to represent the flag, standards, colors, or ensign of the United States of America". In simple form, the law says that the American flag is to be revered and not abused in an act demeaned as unprofessional. The law was very strict and to the point.

Effects of Dirty Environment Essay

1) Garbage dumping We throw garbage here and there without caring that people might step on it. It attracts flies and mosquitoes which carry harmful herms with them. When flies and mosquitoes which carry harmful germs with them. When flies and mosquitoes sit on our foods, they spread diseases among those who eat such food. 3) Urination Urination in the open again makes the surroundings dirty and foul smelling. 4) Spitting Spitting here and there also spoils the surroundings. Effects of unclean surrounding A) When we live in unclean surroundings, our health suffers. B) When we eat food infected by germs carrying flies and mosquitoes, we are likely to suffer from certain dreadful diseases. Two such dreadful diseases are diarrhea and cholera. C) Repeated attacks of these diseases make us weak. The children suffering from these diseases will not grow properly. They become weak and fall prey to many other infection and diseases. As a result of this, death many also occur. Ways of making our surroundings clean a) Defecate in a sanitary latrine. After using the latrine throw enough water into it. People can get together and build a common latrine. We can also make water-sealed pit latrines away from the source of drinking water. We can also make other latrines such as `Suvidha’ the new type of latines of French latrines and dry pit latrines. Latrines should be kept neat and clean. . c) After defecation, hands, fingers, nails, feet and legs should be washed with soap or ash. d) The dumping of garbage should not be done in the open near your house. They should be dumped in the pits. These pits should be regularly emptied. The pits should have a narrow opening through which the garbage can is thrown into it. It should be covered with soil. After a few months, the garbage decomposes and it can be used as manure. e) Keep the drinking water, food items covered, the whole locality clean and tidy. f) We must take care of personal hygiene and clean all parts of our body regularly. g) The houses should be constructed in such a way that there should be enough air and sunlight.

Ias 11

IAS 11 International Accounting Standard 11 Construction Contracts In April 2001 the International Accounting Standards Board (IASB) adopted IAS 11 Construction Contracts, which had originally been issued by the International Accounting Standards Committee in December 1993. IAS 11 Construction Contracts replaced parts of IAS 11 Accounting for Construction Contracts (issued in March 1979). Other IFRSs have made minor consequential amendments to IAS 11. They include IAS 23 Borrowing Costs (as revised in March 2007) and IAS 1 Presentation of Financial Statements (as revised in September 2007). IFRS Foundation A613 IAS 11 CONTENTS from paragraph INTERNATIONAL ACCOUNTING STANDARD 11 CONSTRUCTION CONTRACTS OBJECTIVE SCOPE DEFINITIONS COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS CONTRACT REVENUE CONTRACT COSTS RECOGNITION OF CONTRACT REVENUE AND EXPENSES RECOGNITION OF EXPECTED LOSSES CHANGES IN ESTIMATES DISCLOSURE EFFECTIVE DATE 1 3 7 11 16 22 36 38 39 46 FOR THE ACCOMPANYING DOCUMENTS LISTED BELOW, SEE PART B OF THIS EDITION ILLUSTRATIVE EXAMPLES Disclosure of accounting policies The determination of contract revenue and expenses Contract disclosures A614 Â ©IFRS Foundation IAS 11 International Accounting Standard 11 Construction Contracts (IAS 11) is set out in paragraphs 1–46. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 11 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Conceptual Framework for Financial Reporting. IAS 8 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 A615 IAS 11 International Accounting Standard 11 Construction Contracts Objective The objective of this Standard is to prescribe the accounting treatment of revenue and costs associated with construction contracts. Be cause of the nature of the activity undertaken in construction contracts, the date at which the contract activity is entered into and the date when the activity is completed usually fall into different accounting periods.Therefore, the primary issue in accounting for construction contracts is the allocation of contract revenue and contract costs to the accounting periods in which construction work is performed. This Standard uses the recognition criteria established in the Framework for the Preparation and Presentation of Financial Statements1 to determine when contract revenue and contract costs should be recognised as revenue and expenses in the statement of comprehensive income. It also provides practical guidance on the application of these criteria. Scope This Standard shall be applied in accounting for construction contracts in the financial statements of contractors. 2 This Standard supersedes IAS 11 Accounting for Construction Contracts approved in 1978. Definitions 3 The fo llowing terms are used in this Standard with the meanings specified: A construction contract is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use.A fixed price contract is a construction contract in which the contractor agrees to a fixed contract price, or a fixed rate per unit of output, which in some cases is subject to cost escalation clauses. A cost plus contract is a construction contract in which the contractor is reimbursed for allowable or otherwise defined costs, plus a percentage of these costs or a fixed fee. 4 A construction contract may be negotiated for the construction of a single asset such as a bridge, building, dam, pipeline, road, ship or tunnel.A construction contract may also deal with the construction of a number of assets which are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use; examples of such contracts include those for the construction of refineries and other complex pieces of plant or equipment. 1 IASC’s Framework for the Preparation and Presentation of Financial Statements was adopted by the IASB in 2001.In September 2010 the IASB replaced the Framework with the Conceptual Framework for Financial Reporting. A616 Â © IFRS Foundation IAS 11 5 For the purposes of this Standard, construction contracts include: (a) contracts for the rendering of services which are directly related to the construction of the asset, for example, those for the services of project managers and architects; and contracts for the destruction or restoration of assets, and the restoration of the environment following the demolition of assets. (b) 6Construction contracts are formulated in a number of ways which, for the purposes of this Standard, are classified as fixed price contracts and cost plus contracts . Some construction contracts may contain characteristics of both a fixed price contract and a cost plus contract, for example in the case of a cost plus contract with an agreed maximum price. In such circumstances, a contractor needs to consider all the conditions in paragraphs 23 and 24 in order to determine when to recognise contract revenue and expenses.Combining and segmenting construction contracts 7 The requirements of this Standard are usually applied separately to each construction contract. However, in certain circumstances, it is necessary to apply the Standard to the separately identifiable components of a single contract or to a group of contracts together in order to reflect the substance of a contract or a group of contracts.When a contract covers a number of assets, the construction of each asset shall be treated as a separate construction contract when: (a) (b) separate proposals have been submitted for each asset; each asset has been subject to separate negotiation and the contractor and customer have been able to accept or reject that part of the contract relating to each asset; and the costs and revenues of each asset can be identified. (c) 9 A group of contracts, whether with a single customer or with several customers, shall be treated as a single construction contract when: (a) (b) the group of contracts is negotiated as a single package; the contracts are so closely interrelated that they are, in effect, part of a single project with an overall profit margin; and the contracts are performed concurrently or in a continuous sequence. (c) 10A contract may provide for the construction of an additional asset at the option of the customer or may be amended to include the construction of an additional asset. The construction of the additional asset shall be treated as a separate construction contract when: (a) the asset differs significantly in design, technology or function from the asset or assets covered by the original contract; or the pri ce of the asset is negotiated without regard to the original contract price. b) Â © IFRS Foundation A617 IAS 11 Contract revenue 11 Contract revenue shall comprise: (a) (b) the initial amount of revenue agreed in the contract; and variations in contract work, claims and incentive payments: (i) (ii) to the extent that it is probable that they will result in revenue; and they are capable of being reliably measured. 12Contract revenue is measured at the fair value of the consideration received or receivable. The measurement of contract revenue is affected by a variety of uncertainties that depend on the outcome of future events. The estimates often need to be revised as events occur and uncertainties are resolved. Therefore, the amount of contract revenue may increase or decrease from one period to the next.For example: (a) a contractor and a customer may agree variations or claims that increase or decrease contract revenue in a period subsequent to that in which the contract was init ially agreed; the amount of revenue agreed in a fixed price contract may increase as a result of cost escalation clauses; the amount of contract revenue may decrease as a result of penalties arising from delays caused by the contractor in the completion of the contract; or when a fixed price contract involves a fixed price per unit of output, contract revenue increases as the number of units is increased. b) (c) (d) 13 A variation is an instruction by the customer for a change in the scope of the work to be performed under the contract. A variation may lead to an increase or a decrease in contract revenue. Examples of variations are changes in the specifications or design of the asset and changes in the duration of the contract. A variation is included in contract revenue when: (a) (b) it is probable that the customer will approve the variation and the amount of revenue arising from the variation; and the amount of revenue can be reliably measured. 4 A claim is an amount that the co ntractor seeks to collect from the customer or another party as reimbursement for costs not included in the contract price. A claim may arise from, for example, customer caused delays, errors in specifications or design, and disputed variations in contract work. The measurement of the amounts of revenue arising from claims is subject to a high level of uncertainty and often depends on the outcome of negotiations.Therefore, claims are included in contract revenue only when: (a) (b) negotiations have reached an advanced stage such that it is probable that the customer will accept the claim; and the amount that it is probable will be accepted by the customer can be measured reliably. A618 Â © IFRS Foundation IAS 11 15 Incentive payments are additional amounts paid to the contractor if specified performance standards are met or exceeded. For example, a contract may allow for an incentive payment to the contractor for early completion of the contract.Incentive payments are included in c ontract revenue when: (a) (b) the contract is sufficiently advanced that it is probable that the specified performance standards will be met or exceeded; and the amount of the incentive payment can be measured reliably. Contract costs 16 Contract costs shall comprise: (a) (b) costs that relate directly to the specific contract; costs that are attributable to contract activity in general and can be allocated to the contract; and such other costs as are specifically chargeable to the customer under the terms of the contract. c) 17 Costs that relate directly to a specific contract include: (a) (b) (c) (d) (e) (f) (g) (h) site labour costs, including site supervision; costs of materials used in construction; depreciation of plant and equipment used on the contract; costs of moving plant, equipment and materials to and from the contract site; costs of hiring plant and equipment; costs of design and technical assistance that is directly related to the contract; the estimated costs of rect ification and guarantee work, including expected warranty costs; and claims from third parties.These costs may be reduced by any incidental income that is not included in contract revenue, for example income from the sale of surplus materials and the disposal of plant and equipment at the end of the contract. 18 Costs that may be attributable to contract activity in general and can be allocated to specific contracts include: (a) (b) (c) insurance; costs of design and technical assistance that are not directly related to a specific contract; and construction overheads. Â ©IFRS Foundation A619 IAS 11 Such costs are allocated using methods that are systematic and rational and are applied consistently to all costs having similar characteristics. The allocation is based on the normal level of construction activity. Construction overheads include costs such as the preparation and processing of construction personnel payroll. Costs that may be attributable to contract activity in general and can be allocated to specific contracts also include borrowing costs. 9 Costs that are specifically chargeable to the customer under the terms of the contract may include some general administration costs and development costs for which reimbursement is specified in the terms of the contract. Costs that cannot be attributed to contract activity or cannot be allocated to a contract are excluded from the costs of a construction contract.Such costs include: (a) (b) (c) (d) 21 general administration costs for which reimbursement is not specified in the contract; selling costs; research and development costs for which reimbursement is not specified in the contract; and depreciation of idle plant and equipment that is not used on a particular contract. 20 Contract costs include the costs attributable to a contract for the period from the date of securing the contract to the final completion of the contract.However, costs that relate directly to a contract and are incurred in securing t he contract are also included as part of the contract costs if they can be separately identified and measured reliably and it is probable that the contract will be obtained. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs when the contract is obtained in a subsequent period.Recognition of contract revenue and expenses 22 When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs associated with the construction contract shall be recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period. An expected loss on the construction contract shall be recognised as an expense immediately in accordance with paragraph 36.In the case of a fixed price contract, the outcome of a construction contract can be estimated reliably when all the following conditions are satisfied: (a) (b) total contract revenue can be measured reliably; it is probable that the economic benefits associated with the contract will flow to the entity; both the contract costs to complete the contract and the stage of contract completion at the end of the reporting period can be measured reliably; and 23 (c) A620 Â © IFRS Foundation IAS 11 (d) he contract costs attributable to the contract can be clearly identified and measured reliably so that actual contract costs incurred can be compared with prior estimates. 24 In the case of a cost plus contract, the outcome of a construction contract can be estimated reliably when all the following conditions are satisfied: (a) it is probable that the economic benefits associated with the contract will flow to the entity; and the contract costs attributable to the contract, whether or not specifically reimbursable, can be clearly identified and measured reliably. b) 25 The recognition of revenue and expenses by reference to t he stage of completion of a contract is often referred to as the percentage of completion method. Under this method, contract revenue is matched with the contract costs incurred in reaching the stage of completion, resulting in the reporting of revenue, expenses and profit which can be attributed to the proportion of work completed. This method provides useful information on the extent of contract activity and performance during a period.Under the percentage of completion method, contract revenue is recognised as revenue in profit or loss in the accounting periods in which the work is performed. Contract costs are usually recognised as an expense in profit or loss in the accounting periods in which the work to which they relate is performed. However, any expected excess of total contract costs over total contract revenue for the contract is recognised as an expense immediately in accordance with paragraph 36.A contractor may have incurred contract costs that relate to future activit y on the contract. Such contract costs are recognised as an asset provided it is probable that they will be recovered. Such costs represent an amount due from the customer and are often classified as contract work in progress. The outcome of a construction contract can only be estimated reliably when it is probable that the economic benefits associated with the contract will flow to the entity.However, when an uncertainty arises about the collectibility of an amount already included in contract revenue, and already recognised in profit or loss, the uncollectible amount or the amount in respect of which recovery has ceased to be probable is recognised as an expense rather than as an adjustment of the amount of contract revenue. An entity is generally able to make reliable estimates after it has agreed to a contract which establishes: (a) (b) (c) each party’s enforceable rights regarding the asset to be constructed; the consideration to be exchanged; and the manner and terms of settlement. 6 27 28 29 It is also usually necessary for the entity to have an effective internal financial budgeting and reporting system. The entity reviews and, when necessary, revises the estimates of contract revenue and contract costs as the contract progresses. The need for such revisions does not necessarily indicate that the outcome of the contract cannot be estimated reliably. Â © IFRS Foundation A621 IAS 11 30 The stage of completion of a contract may be determined in a variety of ways. The entity uses the method that measures reliably the work performed.Depending on the nature of the contract, the methods may include: (a) (b) (c) the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs; surveys of work performed; or completion of a physical proportion of the contract work. Progress payments and advances received from customers often do not reflect the work performed. 31 When the stage of completion is determined b y reference to the contract costs incurred to date, only those contract costs that reflect work performed are included in costs incurred to date.Examples of contract costs which are excluded are: (a) contract costs that relate to future activity on the contract, such as costs of materials that have been delivered to a contract site or set aside for use in a contract but not yet installed, used or applied during contract performance, unless the materials have been made specially for the contract; and payments made to subcontractors in advance of work performed under the subcontract. (b) 32When the outcome of a construction contract cannot be estimated reliably: (a) revenue shall be recognised only to the extent of contract costs incurred that it is probable will be recoverable; and contract costs shall be recognised as an expense in the period in which they are incurred. (b) An expected loss on the construction contract shall be recognised as an expense immediately in accordance with paragraph 36. 33 During the early stages of a contract it is often the case that the outcome of the contract cannot be estimated reliably.Nevertheless, it may be probable that the entity will recover the contract costs incurred. Therefore, contract revenue is recognised only to the extent of costs incurred that are expected to be recoverable. As the outcome of the contract cannot be estimated reliably, no profit is recognised. However, even though the outcome of the contract cannot be estimated reliably, it may be probable that total contract costs will exceed total contract revenues.In such cases, any expected excess of total contract costs over total contract revenue for the contract is recognised as an expense immediately in accordance with paragraph 36. Contract costs that are not probable of being recovered are recognised as an expense immediately. Examples of circumstances in which the recoverability of contract costs incurred may not be probable and in which contract costs m ay need to be recognised as an expense immediately include contracts: (a) that are not fully enforceable, ie their validity is seriously in question; 34 A622 Â © IFRS Foundation IAS 11 (b) (c) (d) (e) 5 the completion of which is subject to the outcome of pending litigation or legislation; relating to properties that are likely to be condemned or expropriated; where the customer is unable to meet its obligations; or where the contractor is unable to complete the contract or otherwise meet its obligations under the contract. When the uncertainties that prevented the outcome of the contract being estimated reliably no longer exist, revenue and expenses associated with the construction contract shall be recognised in accordance with paragraph 22 rather than in accordance with paragraph 32.Recognition of expected losses 36 When it is probable that total contract costs will exceed total contract revenue, the expected loss shall be recognised as an expense immediately. 37 The amount of s uch a loss is determined irrespective of: (a) (b) (c) whether work has commenced on the contract; the stage of completion of contract activity; or the amount of profits expected to arise on other contracts which are not treated as a single construction contract in accordance with paragraph 9. Changes in estimates 8 The percentage of completion method is applied on a cumulative basis in each accounting period to the current estimates of contract revenue and contract costs. Therefore, the effect of a change in the estimate of contract revenue or contract costs, or the effect of a change in the estimate of the outcome of a contract, is accounted for as a change in accounting estimate (see IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors). The changed estimates are used in the determination of the amount of revenue and expenses recognised in profit or loss in the period in which the change is made and in subsequent periods.Disclosure 39 An entity shall disclose: (a) (b) the amount of contract revenue recognised as revenue in the period; the methods used to determine the contract revenue recognised in the period; and the methods used to determine the stage of completion of contracts in progress. (c) Â © IFRS Foundation A623 IAS 11 40 An entity shall disclose each of the following for contracts in progress at the end of the reporting period: (a) the aggregate amount of costs incurred and recognised profits (less recognised losses) to date; the amount of advances received; and the amount of retentions. b) (c) 41 Retentions are amounts of progress billings that are not paid until the satisfaction of conditions specified in the contract for the payment of such amounts or until defects have been rectified. Progress billings are amounts billed for work performed on a contract whether or not they have been paid by the customer. Advances are amounts received by the contractor before the related work is performed. An entity shall present: (a) (b) the g ross amount due from customers for contract work as an asset; and the gross amount due to customers for contract work as a liability. 2 43 The gross amount due from customers for contract work is the net amount of: (a) (b) costs incurred plus recognised profits; less the sum of recognised losses and progress billings for all contracts in progress for which costs incurred plus recognised profits (less recognised losses) exceeds progress billings. 44 The gross amount due to customers for contract work is the net amount of: (a) (b) costs incurred plus recognised profits; less the sum of recognised losses and progress billings or all contracts in progress for which progress billings exceed costs incurred plus recognised profits (less recognised losses). 45 An entity discloses any contingent liabilities and contingent assets in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Contingent liabilities and contingent assets may arise from such items as warrant y costs, claims, penalties or possible losses. Effective date 46 This Standard becomes operative for financial statements covering periods beginning on or after 1 January 1995. A624 Â © IFRS Foundation

Carbon Fiber

Carbon Fiber report Table of Contents Introduction 3 Historical events of Carbon fiber 3 Properties 4 Applications 4 Conclusion 5 Bibliography 6 Introduction There are a lot of new materials that has emerged and been used by engineers and scientists such as Aerogel, Metal foam, Bioplastic, Carbon fiber, Graphene and others. This is helping engineers build all new types of machines and instruments such as touch screen mobiles, automobile sensors, computers, planes and a lot more.This report will focus on a certain material called Carbon fiber. This material is being used lot due to It Is properties, for example Carbon fiber is five times stronger than steel and weighs three times less. Most cars use steel for body parts but imagine replacing steel with carbon fiber that would open a whole new road for car industries. The report will discuss some historical events and background information about carbon fiber. Also, it will focus on carbon fiber properties and two applications for It.H istorical events of Carbon fiber In the late 1800s Thomas Edison carbonized bamboo and cotton to produce filaments for his light bulbs Oohnson. n. d. ). In 1958 Roger Bacon created high performance carbon fibers at the Union Carbide. His method was to heat strands of a material called rayon (artificial silk) until they are carbonized, but this method proved to be inadequate because the resulting fibers had only carried 20% of carbon and the properties of it were Inefficient, such as low strength and stiffness (â€Å"Carbon (fiber) ,n. d. † ).In the early 1960s the process of Carbon fber was developed by Dr. Akio Shindo at Agency Of Industrial Science and Technology of Japan, which improved carbon fiber and contained 50% of carbon (â€Å"Carbon (fiber), n. d. In 1963, the properties of carbon fiber were acknowledged, such as high strength, by W. Watt, L. N. Philips and W. Johnson at the Royal Aircraft Establishment at Farnborough, Hampshire (â€Å"Carbon (fiber), n. d. † ). In the early 1960s, engineers began applying carbon fiber to aircraft because of it Is properties like high strength and light weight.The results of using carbon fiber In this area made aircraft much lighter, faster and also heat resistant due to the aircraft Itself and atmospherically (Johnson, n. d. ). 1 OF3 Between tne years a IYBU, Caroon TIDer was manuTacturea to De given to tne ilitary and also was produced to be used in sports such as NASCAR and Formula 1 to make the vehicles lighter and faster Oohnson, n. d. ). In the early 21st century, the manufacturing of Carbon fiber had expanded greatly through Asia, Europe and the United states, because the industries had been requesting Carbon fiber, industries such as sports and aerospace Oohnson, n. . ). Properties Carbon fiber is a material that belongs to the family of polymers. It is made with an extremely thin strings of carbon (like hair) that are twisted, then the strings are oven together to make it look like a piece of fabric. To make the shape of the fabric- carbon permanent is to place it over a selected mold or any shape that is desired and then it is covered with a stiff liquid resin or liquid plastic. Finally, it dries up to maintain the selected shape (Deaton, n. d. . Carbon fiber has a lot of amazing properties and characteristics, such as high strength and high rigidity, even though it is relatively light; it is like the property of steel's strength and the lightness of plastic combined in one material. Also, Carbon fiber resists fire and heat because the aterial itself reflects heat competently if it is in a condition of a dense layer, which leads us to the matter of expansion due to heat; this material has a low expansion to heat unlike steel.Comparing steel to Carbon fiber, steel has a low corrosion resistivity which means it is more susceptible to rust unlike carbon fiber that has a high corrosion resistivity (â€Å"Carbon fiber characteristics, n. d. † ). Carbon fiber can abso rb vibration, in other words a good vibration damping (Kiron, n. d. ). which opens a door to set or attach carbon fiber to moving machines or automobiles. Moreover, Carbon fiber appears in x-ray vision thus it cannot be stolen or for any illegal activity. Also, in a medical view, Carbon fiber is being used to support limbs or injured knees but this study is still to be researched Oohnson, n. . ). Applications Carbon fiber can be used in so many ways; it can be customized for customer's desire. In this section two applications will be discussed which are automotive and military. Carbon fiber is used for automobile racing and styling, for example car parts such as the hood (bonnet) for it is heat resistivity, trunk, lip, fender, car rims (wheels) nd much more to make the car lighter, faster, able to absorb vibration and more attractive. In addition, if the car is lighter it means that less fuel will be used.Also, the bodies of motorcycle racing which are called fairings are made out o f Carbon fiber; these fairings are especially designed for racing. Exhausts (mufflers) are also made out of carbon fiber for both cars and motorcycles for carbon's fiber heat resistivity and sound. Carbon fiber not only plays an important role in the racing world but also will play in the normal daily world in cars (â€Å"Carbon (fiber),n. d. † ). Carbon fiber is used in the military; it is used in planes, tanks, military cars, missiles even soldier's personal gear such as a helmet, boots, rifles, armor other equipment.Less weight means less energy and faster movement whether if it is a vehicle or a human. Of course there is a lot of information for using Carbon fiber for military reasons, but it is classified, only shallow information is given to civilians Oohnson, n. d. ). Conclusion 10 sum up, tne nlstory 0T Caroon TIDer was 01scussea ana looked Into tnrougnout tne years of development and the people who played an important role in the history of his material were introduc ed. Also, the family of the material was identified and the making of Carbon fiber was explained thoroughly.Carbon fiber has outstanding properties such as high rigidity, strength and low weight. To add, Carbon fiber has been widely used in applications such as automobiles and military. These two examples are two of many applications that are being used for carbon fiber in everyday life. Although carbon fiber can be very expensive, it is still used in many industries. Engineers can use Carbon fiber in many designs in various applications hat can be used for people such as modern bicycles, cars, baseball bats, fishing rods and much more.https://en.wikipedia.org/wiki/Carbon-based_lifehttp://auto.howstuffworks.com/fuel-efficiency/fuel-economy/carbon-fiber-oil-crisis.htmhttps://www.thoughtco.com/uses-of-carbon-fiber-820394https://www.thoughtco.com/applications-of-carbon-fiber-820384http://textilelearner.blogspot.com/http://www.christinedemerchant.com/carboncharacteristics.htmlhttps://ai tracing.com/

Navistar Company Essay

Executive Summary Trimco is a main supplier to Navistar. Navistar relies heavily on Trimco at their assembly plant. Navistar and Trimco must improve their quality management systems in order to have the right parts, in the right number shipped at the right time without any damages or defects. Navistar and Trimco must start imploring a more collaborative approach to their business process. Navistar needs to address their policy problems. Our last minute design changes seriously disrupt the supply process. The robbing of parts also creates a snowball effect of problems in other areas, or down the line. Trimco has several problems including high employee turnover, mixed technological capability with respect to manufacturing processes, and a lack of internal control. Areas of deficiencies must be jointly identified and solutions to these deficiencies must be collaboratively tackled. With these improvements, the cycle time from customer order to delivery should be reduced, which would allow a higher level of customer service at an overall lower cost. The delivery times for the custom-designed trucks should decrease with the recommended implementations. Navistar must identify the problem to Trimco. Trimco must be aware of these deficiencies and collaborate with Navistar to remedy these. Navistar must then look at the problem internally. Top management has given them support in this matter and they must be utilized. Input across different business functions must be taken. Working with other departments will help identify issues that were previously not seen. Incomplete parts can be monitored with a quality control system that compares parts ordered or required with actual parts sent. Last minute design changes must be stopped, as they are not sufficient to let Trimco manufacture the parts on time. Quality of the parts can be addressed by raising awareness of the issue, and by also ensuring packaging and handling of parts are done in meticulous order in order to reduce damages. The â€Å"robbed† parts must be stopped as it cr eates additional problems. It is a short-term fix that produces long-term negative effects. Issues Identification There are several issues for both Navistar and Trimco. I have asked shipping and receiving at both Navistar and Trimco to record the frequency of the trim problems as well as the root causes for each occurrence over a 6-month period. Firstly I will outline the problems here at Navistar. I find that we are storing/handling parts following improper receiving procedures, which include lost, misplaced, and damaged materials. Often parts contained within kits were damaged to the point where they could not be installed into truck interiors causing added costs for Trimco, and delay our assembly here at Navistar. We have also accepted parts that are defective. These parts sometimes went undetected until installation. These parts had to be either scrapped or returned to Trimco for replacement and credit. We must collaborate with Trimco in order to reduce their costs in this area. Communication between Trimco and Navistar will help reduction in total supply chain costs, which is a key measure in the strategic initiative that we are trying to plan in order to reduce these issues. Another issue is the robbing of parts for higher priority uses, which are caused due to supply failures. This of course translates to even more supply failures. This has caused continual shortages, lost stock, (which is the highest reason identified for trim part shortages) and excessive ordering. Another issue is last minute design changes. Navistar needs descriptions or specifications in describing the need in sufficient detail to ensure that the correct goods are ordered in the correct quality, at the correct time, at the correct place. It is considered one of the most important keys to successful strategic management. This is an issue for both Navistar and Trimco in that Navistar has to rework the parts, or order new parts to fill the demand. Specification outlining must be looked at in a strategic sense with Trimco and Navistar communicating different ideas in order to make these situations minimal. Another issue is the JIT suitability. Safety stock is still required which would beget calling it a just in time system. This must be addressed on both sides. Issues for Trimco include quality control problems. Shipping defective material, incorrect material, and even damaged parts, causes increased cost and decreased productivity for both Trimco and Navistar. Another issue for Trimco, which was also an issue for Navistar, was JIT suitability. It seems that at times Navistar expectation can be too high with the last minute specification changes,  which can lead to incorrectly punched parts, or incorrectly sent parts that has been an issue. Environmental and Root Cause Analysis The main cause of the issues for both Trimco and Navistar are quality issues. Both the supply plant and we the assembling plants are running into quality issues. Trimco Industries is a large supplier of automotive trim parts. It is also a very large Navistar supplier. Trimco faces several problems including mixed technological capability with respect to manufacturing processes; high employee turnover that affects employee training and awareness levels that impacts its ability to meet customer needs effectively. Shipping is an issue in that it lacks internal process. Correct parts aren’t always shipped, and the shipping of materials is not sufficient as damaged parts are ranked second as a reason for trim part shortages. Internally we have some issues as well. The last minute design change that we allow to occur, seriously disrupt the supply process. The stealing policy that allows workers to rob parts from one job for another only worsens existing problems. Inventory count, and easy identification of parts is negatively affected. This represents a short-term solution that equates to problems in the long run. The control over incoming parts seems to be an issue that needs to be addressed. Parts that are missing, damaged, defective or incorrectly sent, are being identified too late for Trimco to send appropriate replacement parts in time for assembly. Parts that are being stored at Navistar are being damaged between the time they are received from Trimco and the time they are required for production. This can equate to inefficient packaging, t even mishandling in our receiving area. This damage would indicate that inappropriate storage and handling procedures are being used at Navistar and Trimco. Navistar operates in a highly competitive industry. It has a long-standing history, and reputable background, but there is always pressure to reduce margins in any way possible in order to stay competitive in the industry. Navistar is in the cus tom truck business and currently has a 28.6% share in the North American market. At any given time 50-80% of our orders can be customized. Customers took time in designing their trucks to their specifications and expect timely delivery with impeccable quality. Missing and/or parts are directly impacting both the customer and bottom line costs. This represents 60% of trim part shortages. Trim shortages account for an estimated $200,000. This is a very generous estimation with the estimated cost potentially being far higher than this figure. The processes used both at Navistar and at Trimco are not sufficient to respond to last minute design changes, maintain a continuous supply of defect-free and correctly ordered parts, prevent internal stealing of parts and control the damage of parts during shipment. The quality management programs at both Navistar and Trimco need improvement to effectively change their current processes. All processes, both Navistar and Trimco’s must be in control, centered, and possess minimal variation. Strategically, if these problems were resolved, this would improve Navistar’s offering to our custom-designed truck customers. Trimco also has a high rate of attrition, which adds to the overall cost. This rate of turnover affects the training levels of employees and their ability to control processes, to respond to last minute design changes and to ensure the accuracy of trim part shipments. The cost of this employee attrition is high in many respects. Employees are paid $23 an hour in 1997. When these shortages occur there will be overtime needed which equates to $34.50 per hour. The constant turnover also has training costs, which can’t be measured in the employee’s hourly wage. The JIT system utilized is perhaps too stringent on time, especially with the issues at hand. A balance must be reached between a JIT system’s tightness and the ability of both the supplier and customer to work together to ensure a smooth and efficient supply chain system. There is not one root cause but rather two. The quality management programs at both Navistar and Trimco need improvement to effectively change their current processes. Strategically, if these problems were resolved, this would improve Navistar’s offering to the custom-designed truck customer. Navistar and Trimco’s JIT system must also be looked at. Alternatives and/or Options Again supplier relationships come to the forefront. Communication with Trimco is necessary in order to get a better understanding of Trimco’s problems, and where we think we can help. The JIT system utilized is   too stringent on time, especially with the issues at hand. A balance must be reached between a JIT system’s tightness and the ability of both the supplier and customer to work together to ensure a smooth and efficient supply chain system. Navistar employs a strategic centralized purchasing structure where all communication is done at Navistar headquarters. An alternative would be to have collaboration at both companies’ headquarters as to get a better line of communication. Another alternative would be for a better ERP system to be implemented. This would require additional costs, and would be a strategic move for the long run, but this could help with specification issues, as well as demand on both levels. Recommendations and Implementation The quality management programs at both Navistar and Trimco need improvement to effectively change their current processes. Strategically, if these problems were resolved, this would improve Navistar’s offering to the custom-designed truck customer. Some options that can help both Navistar and Trimco would be to delve deeper into their supplier relationship. Both parties can conduct a careful study of the processing line for both Navistar and Trimco in order to obtain a complete understanding of both companies manufacturing processes. The first step would be to notify Trimco of the supply problem. We understand the problem, and Trimco has had added costs, but we need to communicate with Trimco and have them understand how the supply problem effects Navistar’s bottom line, and ultimately how it affects our customers. This step should help open the lines of communication and help facilitate the beginning of the process. Next step would be to internally have top management involved. Top management already supports quality improvement efforts as it’s so important to Navistar’s bottom line. Let them know of the issues being faced. Support from management will help facilitate the necessary authority needed with Navistar to gain cooperation amongst the needed employees to help identify and resolve the supply problem. Upper management is primarily concerned with financial impact, but they must be aware of the impact of the problem both to the customer and those finances. The policy issues surrounding the problem with respect to last minute design changes and robbing and the deficiencies associated with Trimco must be communicated. Next would be to gain input from stakeholders. Input and feedback must be taken from other Navistar employees. Communication with Trimco is also vital in order to access additional data related to the problem as well as potential solutions to effectively resolve th e interior trim supply problem. Navistar can start by gaining input from the shipping manager, line manager, line employees, the chaser, quality managers, and design engineers. Trimco should also gain input from the shipping manager, shipping employees, and design engineers. This method will have multiple outcomes. It will start by identifying the problem to the company as a whole. The impact of the workers can be better communicated by identifying the issue. Feedback can be attained based on this as well. Line employees and shipping employees are first hand with respect to being effected by the problems, and they may voice their concerns. An added benefit of this will be that several implementation issues will be addressed before encountered. Communication and brainstorming will help identify the problems before implementation and this will be facilitated through a team approach. The design changes need to be stopped as it causing major delays and issues with Trimco. We must collaboratively agree to a set time frame that is feasible for both parties. Navistar can look at Trimco’s operation thoroughly—from design through manufacturing and delivery. Supplier relationship can take a bigger role, as Trimco is a major Navistar supplier. Communication is vital between Trimco and us. Some options and alternatives to other problems: To tackle incomplete shipments. A better EDI or implementing a joint ERP systems in which Trimco can improve control over parts being sent to Navistar with tracking being done in the ERP system. This will cost Trimco both financially and time wise, but will have a longer strategic impact in their business operations. An option to the parts quality problem would be to have Trimco have a better process when sending out parts to Navistar. Trimco needs to stop sending defective parts to Navistar, as Navistar has used these parts and ultimately had to scrap and replace them later on in their production. This is added cost and inefficiencies. Also damaged parts are second highest behind missing parts. Trimco will need to improve packaging and packing of shipping containers. On Navistar’s end, better storage of materials must be looked at in order to prevent the damage of parts while awaiting assembly. Parts can be stored in strategically   bins, or Navistar can look at other options such as storage towers. There would be added cost, but parts can be easily located, and can be much safer from damage. Monitor and Control Collaboration and communication between Trimco and Navistar is paramount in the monitoring and controlling of this outcome. Quality departments for both companies will be heavily involved in the monitoring of this implementation. Monitoring in the form of regular reports on defects, damages, and incorrect parts must be implemented in both companies. Reports to be conducted by shipping managers and line managers. There will be regular intervals where these figures will be displayed and addressed in a collaborative setting between the two companies. Integrating other business functions will be crucial as budgets can be looked at. Costs associated with these implementations should reflect a decrease in added costs and addressing expenses and looking at the budget can monitor this. The bulk of monitoring will go to the quality departments through internal reporting and tracking of damaged, defective, and incorrect parts.

U.S. government policies on economy Essay Example | Topics and Well Written Essays - 750 words

U.S. government policies on economy - Essay Example Student loans Student loans in America are a form of financial assistance that are supposed to be refunded, converse to other forms of financial assistance, for example, grants and loans. Student loans play an extremely significant role in the higher education of America. Approximately 20 million American citizens go to college every year. In America, a large part of higher education is financed by learners and their families and is perceived to be a venture instead of a basic human liberty. Consequently, students usually graduate with augmented debt levels. Also, student loans are divided into private student loans and federal loans (Wear Simmons, 2008). The Survey of Consumer Finances, 2010, indicates that 45% of all households have significant student-loan debts. This has a negative impact on the economy and productivity. Student loans have diminished the quality of my life. If I successfully meet the debt to income ratio, I may not have the capacity to reserve sufficient funds fo r a deposit. The Center for Responsible Lending estimates that average-income households take approximately 20 years to make sufficient savings for a 10% down payment. I may also take longer to save for a down payment due to additional financial requirements. There are a number of recommendations to address this issue. One is promote extensive adoption of the college scorecard by postsecondary-education institutes. Another recommendation is to establish a properly designed refunding program for students who borrow loans. It is also imperative to incorporate private student loans under bankruptcy protection. Free Trade Free trade is a policy by which the administration does not interfere with exports or discriminate against imports by enforcing subsidies to exports or tariffs to imports or quotas. In the view of comparative advantage, free trade policy allows trading partners equal advantages from trade of services and goods. Free trade has governed prices which are as a consequence of government intervention in the economy through supply restraints or price adjustments (Pugel, 2007). Free trade has improved the quality of my life. For instance, if tariffs on imported sugar are reduced in America, the American manufacturers will receive lower prices and profits while I and other consumers will spend less for an identical amount of sugar due to the similar decreased prices. It also avails numerous items with relative ease. Recommendations include developing additional programs, for example, the trade Adjustment Assistance program which assists those who lose their manufacturing positions due to foreign imports. Nations with dissimilar advantages should be permitted to capitalize on their differences and trade. Research and Development Industry finances two-thirds of America’s research and development. Nonetheless, significant researches are performed by research universities. The federal government developed the foundation for the Nation’s land gra nt institution through the Morrill Acts 4. The federal government support for research and development has developed into a changing and complex web. This has impacted the investment patterns, the economy, and productivity of America (National Science Board, 2008). Research and development has enhanced the quality of life. The fast change has helped me monitor and understand the position of the country in research and development competitiveness. It has also helped me to discover what essential information may be lacking that would give correct examination of the country’