Japan Council for Sustainable Development

Japan Council for Sustainable Development Free Online Research Papers Despite the fact that the little nation of Japan just possesses 0.3% of all out land region and 2.3 % of our universes all out populace, it gets about 20% of the universes yearly shipment carriages. This monstrous economy is just an ongoing marvels realized over the most recent 100 years. Albeit financial development is useful for a nation it achieves issues to nature. Along these lines, and Agenda 21, the Japan Council for Sustainable Development was built up. The boards point is to energize and encourage correspondence between the individuals concerning significant issues of maintainable turn of events. Before the board was even settled Japan made the Basic ecological law which is the reason for all of japanese natural arrangement. The law has a few nuts and bolts for natural approach. The pleasure and progression of ecological endowments, making of an economical society which forces less weight on the earth, and worldwide collaboration for the protection of the worldwide condition are three fundamental standards for natural strategy. The National Agenda 21 Action Plan and the Basic Environmental Plan are two proposition conceived to help put forth solid attempts towards adequately executing and following Agenda 21 in Japan. The Basic Environmental Plan endorses four long haul destinations which are naturally stable material cycle, amicable conjunction, open cooperation, and worldwide exercises. An earth sound material cycle is cultivated by building a financial framework where ecological burden from human exercises is limited. The connection among mankind and the assorted untamed life and the common habitat is the thing that Japan takes a stab at to make an agreeable presence. Open Participation is a key to long haul adequacy of Agenda 21. Interest of all individuals from a general public in ecological preservation exercises is major. In the event that the general population decides not to follow the arrangement, at that point the arrangement is simply thoughts without any activities so it is critical to get people in general to concur and take an interest in ecological preservation. The import-send out proportion in Japan is around 8 to 1, which is path higher than some other nation. 500 million tons of mechanical waste and 50 million tons of house hold squanders are made in Japan. Of the 500 tons of modern waste 1/3 is reused while others are burned and left to sit in land slopes. On account of the gigantic measures of squanders that stream into Japan an immense amount of squanders are additionally made. Ecological Law in Japan appears to point Japan the correct way, yet with such enormous measures of squanders produces it is difficult to see quick outcomes. Without all the proposition by Japanese natural officials going as arranged outcomes will be difficult to find. Exploration Papers on Japan Council for Sustainable DevelopmentPETSTEL investigation of IndiaRelationship between Media Coverage and Social andDefinition of Export QuotasInfluences of Socio-Economic Status of Married MalesAnalysis of Ebay Expanding into AsiaBionic Assembly System: A New Concept of SelfGenetic EngineeringOpen Architechture a white paperThe Project Managment Office SystemMarketing of Lifeboy Soap A Unilever Product

Christianity vs Islam in the Middle Ages Essay Example | Topics and Well Written Essays - 1250 words

Christianity versus Islam in the Middle Ages - Essay Example In any case, it was, present day students of history concur, a unique series of hundreds of years when from the remains of the Roman Empire new powers developed, to be specific Islam-managed conditions of al-Andalus in Spain in the West, the Ottoman Empire in the East and between them the new force places of Christendom, where campaigns started. It was not just a skirmish of religions, yet a conflict of human advancements to overwhelm the known world (barring China and India). In this fight present day Europe was conceived, both as far as forceful â€Å"crusader† demeanor and teacher approach of acclimatizing different societies. In addition, even such a cutting edge term like â€Å"cold war† first showed up in Spain in the XIII century to check the challenges two societies attempting to exist together are facing2. The Islam and the Christianity, in an odd way, figured out how to at the same time exist together and to fight uninterruptedly on the European scene for over eight centuries. These two human advancements were â€Å"caught up in a circumstance where old social and social examples had been broken and new ones were forming†3. Between 636, when the Battle of Yarmouk occurred, and 1453, when Constantinople fell, the head city of a previously executed Byzantine Empire, Europe’s history was ruled by steady contention among Islam and Christendom, whose â€Å"attitudes to Islam had been intensified of obliviousness, misperception, antagonistic vibe and fear†4. Then again, during the time spent battling for control Islam and Christianity definitely obtained from one another, while continually befouling the universe of â€Å"the other†. The biggest church of the Byzantine Empire, â€Å"St. Sophia†, was changed to a mosque by the Turks, while numerous mosques i n Spain were changed to temples during and after the Reconquista. Students of history concur that this battle started in 636 when the armed forces of Byzantium confronted those of the Rashidun Caliphate in the Battle of Yarmouk and were crushed. This enormous

5 Things You Should Never Put on Your Resume

5 Things You Should Never Put on Your Resume We as a whole skill significant a resume can be. It’s the archive that gets you past the PC, through the entryway, into the meeting. What's more, you can’t land the position without traversing those stages. You’ve included all the things you’ve been told are continue absolute necessities, yet have you considered there may be a couple of things you should remove from your resume? Here are 5â things that you ought to erase from your resume as quickly as time permits. 1. ObjectiveThe Objective explanation has gone the method of the dodo. To abstain from being miserably retro, take it out. Your Objective explanation most likely just says that you’re searching for a difficult situation in an incredible and developing organization at any rate, isn't that so? That tells the selection representative nothing at all, and it without a doubt additionally exhausts them. A Summary articulation is considerably more viable. On the off chance that you don’t have one, sub one in for your Objective. In any case, erase the Objective part.2. Clothing listDo you have a segment where you just rundown the entirety of your abilities and the key-or popular expressions you were told were unquestionable requirements for PC screening? The issue with these areas is that a) they are generally garbled by the very PC programs they’re pointed toward luring, and b) this is a straightforward ploy. Tossing a lot of catchphrases at a spotter won’t persuade them. String those watchwords through the body of your resume content instead.3. Page 2Except in unmistakable settings in quite certain vocations, a subsequent page is never a smart thought. You can presumably expect that nobody else however you will ever try perusing your subsequent page. Better to alter your minds out, pack the main page brimming with your most prominent hits and most amazing aptitudes and work understanding, and spare the tree.4. Extravagant formattingAgain, ambiguous to most employersâ€especially if you’re transferring to a PC framework. Anything that isn’t plain content will be rejected. That incorporates content boxes, tables, bulleted records, stylish textual styles, page fringes, and so forth. Spare the inventiveness for the wording of your introductory letter, or the meeting procedure. Keep your resume perfect, norm, and simple.5. HobbiesIt used to be stylish to remember an area for individual interests and pastimes. Except if you can put forth a defense that these have some effect on your capabilities or work execution, avoid this area generally it winds up on page 2 in any case! Spare your own twists for the meeting, when such things can truly liven the discussion and help you sparkle.

Take me home essays

Take me home papers Take Me Home In the wake of completing all the material acquainted with me in Appalachian Literature, I began to consider a few things. There is by all accounts some repetitive topics in the entirety of the writing associated with this class. From the start I felt that possibly I was simply considering the book that I had recently completed and was moving data from it into different books. At that point I thought back through them and noticed the familiarities. There were two that stood out in my psyche. First was the requirement for the entirety of the principle characters to get back. From Divine Rights Trip right to Out of the Woods, every fundamental character had become sick of being in Appalachia and wandered somewhere else; just to wish that they were back home. Appalachia may not be the focal point of the high life, or the most intriguing spot to be on the off chance that you have lived here a mind-blowing entirety. In any case, after you have been away from Appalachia for some time, you begin to ache for the interconnectedness that is so recognizable in the locale. I can validate this on an individual level on the grounds that after turning eighteen years old, I joined the Army and was positioned in Germany for a long time. While there I realized that I was missing something yet wasnt sure what it was. I believed that I was simply missing everything American. Regrettably, in the wake of completing my visit in Germany, I was positioned at Fort Belvoir, which is in Virginia close to Washington, D.C. It was then that I understood that it was the woodlands that I was absent. I was brought up in a holler in Mill Creek, which kept me pondering about the outside world. After leaving, I committed the regular error that most Appalachians do when they venture out from home, I started drinking. I dont know whether it was on the grounds that I was of lawful drinking age and it was unfamiliar to me, or on the off chance that it was basically a regionalized nature. Whichever it might have been, I have gained from perusing these determinations that it is the second rec... <!

Cosmic Creation Myth Free Essays

Grandiose Creation Myth across Culture Paper Kristin Sheffield HUM 105 For decades fantasies have been told about the improvement of the world. Each culture has their rendition of how life started. These fantasies are focused on creation; how the earth was made, how the sky, land or the ocean was made, and how people and creatures were made. We will compose a custom article test on Astronomical Creation Myth or on the other hand any comparable point just for you Request Now These fantasies give societies the security of conviction. Various societies accept in an unexpected way, however these convictions help certain societies to keep on confronting issues or issues, love, and make satisfaction and harmony. The Enuma Elish Apsu, the dad of Sweet Watersâ and Tiamat, Mother of Salt Waters made 3 rowdy youngsters. The youngsters divine beings were simply being kids, however tragically they were disturbing Tiamat’s harmony. She developed to despise their conduct and requested that Apsu manage them. At the point when he attempted they simply overlooked him. Because of their reluctance to comply with their folks Apsu’s goals was to demolish them. Tiamat was resentful about this goals. She revealed to Apsu that his goals was shrewd and they should have been all the more understanding. Her supplications were overlooked by Apsu. Apsu and Tiamat’s manifestations before long acknowledged Apsu’s malicious designs to annihilate them. From the outset they cried, and afterward they capitulated to their destiny. Anyway by one way or another they had become a close acquaintence with Ea, the most astute God, who in the end slaughtered Apsu and made his co-backstabber his slave. This is a Babylonian Myth. This fantasy later turned into the purpose behind a national occasion in which they â€Å"emphasized the restoration of order†, (Rosenberg. 2006). The Creation of the Universe Ife Olorun, the god with the best information, had a child, Obatala, who needed to make land where Olokun, the goddess of unlimited waters and wild swamps dominated. Obatala went to his more seasoned sibling for guidance on the most proficient method to continue. His brother’s blessing was one of prescience. He exhorted his sibling and sent him out the door. Obatala did all that he said he’d do. He made land in muddy water; he at that point made plants. However, he needed to an ever increasing extent. While alcoholic on wine, he began playing with earth. He asked Olorun to â€Å"breathe life into them†, (Rosenberg. 2006). When he calmed he understood they were blemished. He concluded never to drink that sort of wine again and promised to ensure all the people that endured in light of the fact that he was smashed. He â€Å"became the defender of each one of the individuals who are conceived deformed† (Rosenberg. 006). This fantasy originated from Africa; the Yoruba individuals. They demonstrated more feeling in their accounts; Love, envy, compassion and outrage. Similarly as with numerous legends, the makers of these fantasies were neither male nor female. They were gatherings of individuals. The Enuma Elish fantasy was from the Babylonians and furthermore the Assyrians also. For The Creation of Universe Ife, this legend originated from the Yoruba individuals of Africa. Together these fantasies share similitudes about misery and thankfulness for what they have. In these legends something indispensable must be reestablished so as to push ahead. With the Enuma Elish it was the harmony among great and wickedness. With The Creation of Universe Ife he turned into the defender of flawed individuals. Both The Enuma Elish and The Creation of Universe Ife had fundamentally water as the significant component. In The Enuma Elish both parent divine beings were from Salt or Sweet waters. Olokun, in The Creation of Universe Ife was divine force of crush and wild waters. In the two legends anything that disturbed harmony made the waters â€Å"surge back and forth† (Rosenberg. 2006). Another comparability was people were made. In The Enuma Elisa Ea executed Kingu by cutting off his veins. The primary people originated from the blood. In The Creation of Universe Ife, Olorun â€Å"breathed life† into the dirt for Obatala making people. The thing that matters was Obatala needed friends, yet Ea’s design was to have the people â€Å"serve the gods† (Rosenberg. 2006). These legends were intended to comprehend the unexplainable. Various societies clarified them in an unexpected way. Each culture had god and goddesses. Accounts of these divine beings and goddesses disclosed things to people, for example, how we (people) became; how the earth framed; why people look uniquely in contrast to different people or creatures; and so on. Various societies accept how things came to be in an unexpected way. It relies upon their confidence, religion, and convictions with regards to what they will accept. In all the tales that are being advised, it would just take an individual with impact to report the story is valid all together for others to begin accepting. When others begin accepting, the verification is discretionary. Reference Rosenberg, D. (2006). World Mythology: A compilation of extraordinary legends and stories (third ed. ). Chicago, IL: McGraw-Hill. Step by step instructions to refer to Cosmic Creation Myth, Papers

East Campus, Part Two

East Campus, Part Two First of all, a big thank you to everyone who replied to my request for feedback in the last entry. :-) I will be creating some in-depth entries about projects as I decide what exactly to write about! In this second post of a three-part series, I will showcase some vacant rooms in the MIT East Campus dormitory, all from the same floor. My objective is to show the typical setup, furniture, and layout of a mix of rooms in the third post, I will show presently occupied and lived-in quarters to give some contrast between the way youll find a room when you move in, and the way things could look a month or a year later. I was able to find empty rooms to photograph because during the summer months, many students choose to go home or pursue summer internships and other opportunities off campus. However, very often a student will leave at the end of the spring semester and choose to come back to the same room in the fall. House management requires the rooms to be vacated unless a student is keeping his or her room for the summer (with applicable rent payment, currently between $1500 and $1800 total). You would have difficulty finding empty rooms during the school year, as EC is a pretty p opular place to live. With this post, I will take the time to clarify something from my last entry: when I said I try to get off campus as much as possible, I didnt mean that I dont like it here! Its just that MIT is located in a vibrant metropolitan area with much to see and do, in a region with many opportunities for travel and exploration. I value my many connections to campus and the activities in which Im involved, and in my entry I simply wished to convey a picture of a lifestyle heavily influenced by factors both internal and external to the Institute. :-) That said, lets see some photos (all taken within the past couple of weeks and yes, its common for freshmen to get single rooms, though not terribly large ones.) Post Tagged #East Campus

Production Methods To Optimise Profit Essay Online For Free - Free Essay Example

In the process of refining, dirt is separated and sent to soap section for making laundry soap. Saopnification Cooking Caustic soda solution is added to a batch of raw material and saponified by boiling with live steam. After fat stock has been saponified, common salt is added to it and boiling continues. Filling in Frames Liquid is filled in frames to makes blocks of soap Cutting into Cakes Solid soap blocks are divided in small cubes. Packing Soap is packed in packets and cartons Godown Finished soap is sent to Godown and from Godown it is delivered to market. Ratio Analysis Ratio analysis is a tool which is used by individuals to conduct quantitative analysis of information of a companys financial statements, where we calculate ratios from current year numbers which are then compare to previous years of competing companies, industry, or even with the economy in order to judge the performance of the company, in ratio analyses there are many ratios which are calculated from financial statements relevant to the companys performance, financing liquidity, activity. There are some common ratios include debt-equity ratio, price-earnings ratio, earnings per share, working capital, and asset turnover. Sales The absolute amount of sales of the firm firstly indicates its size. Size has implication of purchasing and selling power, amount of markets share and economies of scale. In 2012 net sales of pak Ghee mills is Rs 2,301,574 and is therefore of size that should command significant influence and economies of scale in is industry The next point of interest with sales is the rate of change in the overall sales level. 2012 2013 2014 Sales 2,338,316 2,735,953 3,040,738  17.01% 11.14% This tells us how sales are growing and may lead to question about growth relative to general economy, growth relative to competitor The percentage change is sales can be calculated using the formula: Percentage change in sales= salest salest-1/ salest-1 Profitability Profit is difficult term to use unless it is measured in context. For example to say a company has made 20 % profit does not provide any information about company but if you know company has made a 20% return on equity, or 20% gross profit then the term profit is giving meanings. The ratios discussed under profitability are: Gross profit margins (GPM) Net profit margins (NPM) Return on asset (ROA) Return on equity (ROE) Gross profit margins (GPM) sometimes also called operating profit margins, is amount remaining after cost of sales. The cost of goods sold is, clearly, an important component of the gross profit margin. It is usually calculated as the sum of the cost of materials the company purchases plus any labor involved in the manufacture of finished goods, plus associated overhead. Gross profit margins can be calculated using formula: Gross profit margin = (Sales Cost of Goods Sold) / Sales Gross Profit Margin 2012 2013 2014 Sales 2,338,316 2,735,953 3,040,738 Gross Profit 156,688 176,427 206,832 GPM 6.70% 6.45% 6.80% Having low gross profit margins may result from low prices, high cost of raw material, high cost of labor a bad product mix and a combination of these. Net Profit Margins (NPM) is most commonly used profitability ratio since it compares the bottom line to the amount of sales. The net profit margin narrows the focus on profitability, and highlights not just the companys sales efforts, but also its ability to keep operating costs down, relative to sales. The formula generally used to determine the net profit margin is: Net Profit Margin = Earnings After Taxes / Sales Net Profit Margin 2012 2013 2014 Net Profit 10,966 12,984 23,635 Sales 2,338,316 2,735,953 3,040,738 Net Profit margin 0.47% 0.47% 0.78% Return on assets (ROA) is most commonly used measure of performance of firm. This measures the amount of profit generated by the assets employed by dividing the profit earned by total assets. This formula will return the percentage earnings for a company in terms of its total assets. The better the job that management does in managing its assets-the resources available to it-to bring about profits, the greater this percentage will be. Its normal to calculate the return on total assets on an annual basis, rather than on a quarterly basis. There are several ways to measure this return; one useful method is: Return on Assets = (Net profit) / Total Assets Return on Assets 2012 2013 2014 Net income 10,966 12,984 23,635 Total assets 300,096 309,119 333,265 ROA 3.65% 4.20% 7.09% Return of Equity (ROE) measures the return on the funds of owner, where equity is total investment of all the owners of the firm. You can compare return on equity with return on assets to infer how a company obtains the funds used to acquire assets. Again, there are several ways to calculate this ratio; here, it is measured according to this formula: Return on Equity = Net Income / Owners Equity The principal difference between the formula for return on assets and for return on equity is the use of equity rather than total assets in the denominator, and it is here that the technique of comparing ratios comes into play. By examining the difference between Return on Assets and Return on Equity, you can largely determine how the company is funding its operations. Return on Equity 2012 2013 2014 Net Income 10,966 12,984 23,635 Owners Equity 108,603 119,569 132,553 ROE 10.10% 10.86% 17.83% Liquidity Analysis Ratios Liquidity analysis ratio determine the ability of company to pay of its short term debts, higher the value of ratio indicate larger margin of safety that a company have to pay of its short term debts, Common ratios include the current ratio and  the quick  ratio , different analysts use different assets relevant to calculate liquidity, some analysts only use sum of cash and equalents which is divided by current liabilities because they have a view point that they are the most liquid assets and are most likely to be used to cover short term debt at the time of emergency, ratios under liquidity are as follows Current Ratio Quick Ratio Current ratio (CR) is the most commonly used measure of liquidity of a firm. This ratio measures how many dollars of current assets are available to pay one dollars worth of current liability the usual formula is: Current Ratio = Current Assets / Current Liabilities Current ratio is very closely related to working capital. And the working capital is a difference of current asset and current liabilities. Is a high current ratio good or bad? Certainly, from the creditors standpoint, a high current ratio means that the company is well-placed to pay back its loans. Consider, though, the nature of the current assets: they consist mainly of cash and cash equivalents. Funds invested in these types of assets do not contribute strongly and actively to the creation of income. Therefore, from the standpoint of stockholders and management, a current ratio that is very high means that the companys assets are not being used to best advantage. Current Ratio 2012 2013 2014 Current assets 164,120.34 186,947.14 224,897.38 Current liabilities 31,149.57 49,515.21 68,583.94 Current Ratio 5.27 3.78 3.28 Quick ratio (QR) sometimes called acid test ratio, adjust the current ratio to correct for this problem. Since the firm will always have to need inventory and since the inventory cannot be used to pay the bills, so quick ratio is a better indicator of the liquidity of a company. The quick ratio determines the relationship between quickly accessible current assets and current liabilities: Quick Ratio = (Current Assets Inventory) / Current Liabilities The quick ratio shows whether a company can meet its liabilities from quickly-accessible assets. Quick Ratio 2012 2013 2014 Current assets 164,120.34 186,947.14 224,897.38 Inventory 75,688.81 85,149.91 94,611.01 Prepayments 985.43 985.43 985.43 Current Liabilities 13,865.88 16,456.58 25,010.75 Quick Ratio 6.31 6.13 5.17 Activity Analysis Ratios Activity ratios measure a firms ability to convert different accounts within their balance sheets into cash or sales. Companies will typically try to turn their production into cash or sales as fast as possible because this will generally lead to higher revenues. Ratios discussed in activity analysis are: Assets Turnover Ratio Inventory Turnover Ratio Asset turnover (AT) is a measure of how well a firm is putting its assets to work. If AT is low it means that firm has to many unproductive assets for example Account receivable, inventory, plant and equipment, machinery for its current level of sales. Or, it may means that the level of sales has no yet reached the amount appropriate for invested assets. It can be calculated using formula: Assets turnover = Sales/total assets Assets Turnover Ratio 2012 2013 2014 Sales 2,338,315.80 2,735,953.35 3,040,738.35 Average Total Assets 300,096.04 309,118.84 333,265.07 7.79 8.85 9.12 Inventory Turnover Ratio No company wants to have too large an inventory. Goods that remain in inventory too long tie up the companys assets in idle stock, often incur carrying charges for the storage of the goods, and can become obsolete while awaiting sale. The formula for the Inventory Turnover Ratio is: Inventory Turnover = Cost of Goods Sold / Average Inventory Where the Average Inventory figure refers to the value of the inventory on any given day during the period during which the Cost of Goods Sold is calculated. The higher an inventory turnover rate, the more closely a company conforms to just-in-time procedures. Inventory Turnover Ratio 2012 2013 2014 Cost of Goods Sold 2,181,627.44 2,559,526.24 2,833,906.48 Inventories 20,702.41 23,290.21 25,878.01 105.38 109.90 109.51 Capital Structure Analysis Ratios The capital structure is  how a firm finances its overall operations and growth by  using different sources of funds. A mix of a companys long-term  debt, specific short-term debt, common equity and preferred equity. A companys proportion of short and long-term debt is considered when analyzing capital structure. When people refer to capital structure they are most likely referring to a firms debt-to-equity ratio, which provides insight into how risky a company is. Usually a company more heavily financed by debt poses  greater risk, as this firm is relatively highly levered. Capital structure ratios discussed are: Debt Ratio Equity ratio Times interest Earned Ratio Debt Ratio The debt ratio is defined by this formula: Debt ratio = Total debt / Total assets It is a healthy sign when a companys debt ratio is falls, although both stockholders and potential creditors would prefer to see the rate of decline in the debt ratio more closely match the decline in return on assets. As the return on assets falls, the net income available to make payments on debt also falls. This company should probably take action to retire some of its short-term debt, and the current portion of its long-term debt, as soon as possible. Debt Ratio 2012 2013 2014 Total Liabilities 170,176.95 164,922.05 164,139.96 Total Assets 300,096.04 309,118.84 333,265.07 56.71% 53.35% 49.25% Equity Ratio The equity ratio is the opposite of the debt ratio. It is that portion of the companys assets financed by stockholders: Equity Ratio = Total Equity / Total assets It is usually easier to acquire assets through debt than to acquire them through equity. There are certain obvious considerations: for example, you might need to acquire investment capital from many investors; whereas you might be able to borrow the required funds from just one creditor. Less obvious is the issue of priority. Equity ratio 2012 2013 2014 Total Equity 108,602.67 119,569.09 132,553.04 Total Assets 300,096.04 309,118.84 333,265.07 Equity ratio 0.36 0.39 0.40 Time interest earned ratio is also called Interest Coverage Ratio. It is one of measure frequently used by creditors to evaluate the risk involved in loaning money to a firm is the Times Interest Earned ratio. This is the number of times in a given period that a company earns enough income to cover its interest payments. A ratio of 5, for example, would mean that the amount of interest payments is earned 5 times over during that period. The usual formula is: Times Interest Earned = EBIT / Total Interest Payments EBIT stands for Earnings before Interest and Taxes. Interest Coverage Ratio 2012 2013 2014 EBIT 49,318.79 51,421.70 67,645.17 Interest Expense 30,951.76 29,699.10 28,208.44 Notes to the Financial Statements 1. STATUS AND NATURE OF BUSINESS M/S PAK GHEE MILLS is a private limited Company which is established under Companys Act 1984 and registered with Securities and Exchange Commission of Pakistan. The Head Office of the unit is situated at 164/14 New Muslim Town, Bahawalpur. Whereas unit will be situated at Hasilpur road near Employees Housing Society, Bahawalpur. 2. BASIS OF PREPARATION 2.1 Statement of compliance These financial statements have been prepared in accordance with the approved accounting standards as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as are notified under the Companies Ordinance, 1984, provisions of and directives issued under the Companies Ordinance, 1984 2.2 Basis of measurement These financial statements have been prepared under the historical cost convention. 2.3 Functional and presentation currency These financial statements are presented in Pak Rupees, which is the Companys functional currency. All financial information presented in Pak Rupee have been rounded to the nearest thousand. 2.4 Use of estimates and judgments The preparation of financial statements in conformity with the approved accounting standards require management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. 3. Owners Equity There are four members of the company who have equally contributed in the equity of company and the return on owners equity will be equally divided among the members. 4. Retained Earning PAK Ghee Mills (Pvt) Limited Projected Statement of Retained Earnings 2012 2013 2014 Openig balance Of Retained Earnings  10,966 23,950 Add: Net Income 10,966 12,984 23,635 Ending Balance of Retained Earnings 10,966 23,950 47,585 5. Long Term Debt PAK ghee mill got the loan from HBL bank against the security of Land and Plant. Land and plant pledge for the period of 10 years. The rate of interest charged by the bank 18% p.a.- Also mention the pledge assets in notes to the accounts 6. Workers welfare fund Worker welfare fund is a fund created by an employer for the future welfare and benefits of his employees. Workers welfare is maintained under worker welfare fund ordinance 1971. Workers welfare fund is maintained as 0.75% of net profit. 7. Fixed Assets Fixed assets of the firm are depreciated by using Straight line depreciation method. 8. Intangible assets Intangible assets of the firm includes preproduction Expenses of the firm. Intangible assets of the firm are amortized over the first three years. 9. Marketable securities Marketable securities include shares of FFC, OGDCL. The value of marketable securities mention in balance sheet is according to the market value.