China Petroleum and Chemical Corporation Essay Example for Free

China Petroleum and Chemical Corporation Essay The net profit figure of RMB 19,011 reported under PRC GAAP was increased to RMB 21,593 under IFRS. The increase of RMB 2,582 under IFRS was due to the following reasons: Dep. and disposal of oil and gas properties RMB3,044 Acquisition of subsidiaries 443 Capitalization of general borrowing costs 389 Gain from issuance of shares by subsidiary 136 Gain from debt restructuring 82 Revaluation of land use rights 18 4,112 Unrecognized losses of subsidiaries (182) Pre-operating expenditures (169) Effect on taxation (1,179)(1,530) 2,582 The net profit figure of RMB 21,593 reported under IFRS was increased to RMB 25,577 under U. S. GAAP. The increase of RMB 3,984 under U.S. GAAP was due to the following reasons: Dep. of revalued PPE RMB 3,998 Disposal of PPE 1,316 Capitalized interest on invest.in associates 141 Reversal of deficits on revaluation of PPE 86 Foreign exchange gains and losses76 Reversal of impairment of long-lived assets 47 Exchange of assets23 Capitalization of PPE12 5,699 Deferred tax effect of U.S. GAAP adjustments (1,715) 3,984 2.The differences for CPCC between PRC GAAP and IFRS, and between IFRS and U.S. GAAP are given in the case. As mentioned in the case, treatments of the following items under PRC GAAP and IFRS are different: Depreciation and disposal of oil and gas properties Capitalization of general borrowing costs Acquisition of subsidiaries Gains from issuance of shares by a subsidiary Gains from debt restructuring Revaluation of land use rights Unrecognized losses of subsidiaries Pre-operating expenditures Impairment loses on long-lived assets Government grants (Refer pp.5-72 5-75 in the textbook) Treatments of depreciation and disposal of oil and gas properties seem to have a significant impact on reported profit. As mentioned in the case, treatments of the following items under IFRS and U.S. GAAP are different: Foreign exchange gains and losses Capitalization and revaluation of property, plant and equipment Exchange of assets Impairment of long-lived assets Capitalization of interest on investment in associates Goodwill amortization Companies included in consolidation Related party transactions (Refer pp.5-77 – 5-82) Treatments of depreciation of revalued property, plant and equipment, and disposal of property, plant and equipmentseem to have a significant impact on reported profit 3.U.K. readers of the financial statements may not find them very useful, as the information is not reconciled to the U.K. GAAP. There are differences between U.K. GAAP and IFRS, and between U.K. GAAP and U.S. GAAP. With the adoption of IFRS in the EU, this may not be a major problem anymore. However, UK companies use IFRS as adopted by the EU which in some cases differs from the IFRS issued by the IASB. 4.U.S. readers should find the information useful. However, it would be better for them if the information was reconciled directly from PRC GAAP to U.S. GAAP. 5.When a company is listed on a foreign stock exchange, it is always useful to explain the differences, if any, between accounting standards used in  preparing financial statements, and those that are stipulated by the listing requirements. The need for such explanation is reduced if the two sets of standards are comparable. However, differences can still exist due to different interpretations of the requirements. Therefore, the approach taken by CPCC can be recommended to other companies.

The Orthodox Tradition in Eastern Europe Essay -- Religion Russia 19th

The Orthodox Tradition in Eastern Europe After the 4th century when Constantinople emerged as a great capital and church center, tensions sometimes arose between its leaders and the bishop of Rome. After the fall of Rome to Germanic invaders in 476, the Roman pope was the only guardian of Christian universalism in the West. He began more explicitly to attribute his dominance to Rome’s being the burial place of Saint Peter, whom Jesus had called the â€Å"rock† on which the church was to be built. The Eastern Christians respected that tradition and recognized the Roman patriarch to a measure of honorable authority. But they never believed that this authority allowed the papacy to overrule another church or that it made the pope into a universally reliable figure within the larger church. The Orthodox tradition asserted that the character and rights of the church were fully present in each local community of Orthodox believers with its own bishop. All bishops were equal, and patriarchs or synods of bishops exercised only an â€Å"oversight of care† among the body of coequal bishops. The precedence of honor of individual national churches depended on historical rank. Therefore, the patriarchate of Constantinople understood its own position to be determined entirely by the fact that Constantinople, the â€Å"new Rome,† was the seat of the Roman emperor and the Senate in a world where church boundaries, for administrative reasons, reflected political limits. Apart from the different understandings of the personality of church power, the most significant doctrinal difference between Eastern and Western Christians arose over the exact wording of the Nicene Creed. The Orthodox churches demanded that no words be added to or taken away from the ancient and fundamental statement of the faith, as issued by the councils of Nicaea and Constantinople in the 4th century. During the early Middle Ages the Latin word filioque, meaning â€Å"and from the Son,† was added in the Latin Christian world, thus rendering the creed as â€Å"I believe †¦ in the Holy Spirit †¦ who proceeds from the Father and from the Son.† Charlemagne and his successors promoted the outburst, primarily opposed by the popes, in Europe. Eventually, it was also accepted in Rome in about 1014. Western theologians believed that this teaching preserved the spirit of the original creed. But Orthodox teachers believed that it had n... ...r tsars, Moscow had become the so-called third Rome, direct heir to the imperial and ecclesiastical supremacy of ancient Rome and Constantinople. The patriarchs of Moscow never enjoyed anything like the relative freedom of the Byzantine patriarchs, where church laws regulated the interference of the emperor and were generally respected. In Russia the tsars exercised complete domination over church affairs, except for the brief reign of Patriarch Nikon in the mid-17th century. In 1721 Tsar Peter the Great abolished the patriarchate altogether, and thereafter the church was governed through the imperial administration. The patriarchate was reestablished in 1917, at the time of the Russian Revolution, but soon afterward the Russian church was violently persecuted by the Communist government. As the Soviet regime became less repressive and, in 1991, broke up, the church started to regain its vitality. The Orthodox churches in Eastern Europe also faced persecution by oppressive Commun ist governments after World War II ended in 1945, but they too regained their authority in the 1990s and are slowly reestablishing their place in the moral, religious, and cultural life of their people. The Orthodox Tradition in Eastern Europe Essay -- Religion Russia 19th The Orthodox Tradition in Eastern Europe After the 4th century when Constantinople emerged as a great capital and church center, tensions sometimes arose between its leaders and the bishop of Rome. After the fall of Rome to Germanic invaders in 476, the Roman pope was the only guardian of Christian universalism in the West. He began more explicitly to attribute his dominance to Rome’s being the burial place of Saint Peter, whom Jesus had called the â€Å"rock† on which the church was to be built. The Eastern Christians respected that tradition and recognized the Roman patriarch to a measure of honorable authority. But they never believed that this authority allowed the papacy to overrule another church or that it made the pope into a universally reliable figure within the larger church. The Orthodox tradition asserted that the character and rights of the church were fully present in each local community of Orthodox believers with its own bishop. All bishops were equal, and patriarchs or synods of bishops exercised only an â€Å"oversight of care† among the body of coequal bishops. The precedence of honor of individual national churches depended on historical rank. Therefore, the patriarchate of Constantinople understood its own position to be determined entirely by the fact that Constantinople, the â€Å"new Rome,† was the seat of the Roman emperor and the Senate in a world where church boundaries, for administrative reasons, reflected political limits. Apart from the different understandings of the personality of church power, the most significant doctrinal difference between Eastern and Western Christians arose over the exact wording of the Nicene Creed. The Orthodox churches demanded that no words be added to or taken away from the ancient and fundamental statement of the faith, as issued by the councils of Nicaea and Constantinople in the 4th century. During the early Middle Ages the Latin word filioque, meaning â€Å"and from the Son,† was added in the Latin Christian world, thus rendering the creed as â€Å"I believe †¦ in the Holy Spirit †¦ who proceeds from the Father and from the Son.† Charlemagne and his successors promoted the outburst, primarily opposed by the popes, in Europe. Eventually, it was also accepted in Rome in about 1014. Western theologians believed that this teaching preserved the spirit of the original creed. But Orthodox teachers believed that it had n... ...r tsars, Moscow had become the so-called third Rome, direct heir to the imperial and ecclesiastical supremacy of ancient Rome and Constantinople. The patriarchs of Moscow never enjoyed anything like the relative freedom of the Byzantine patriarchs, where church laws regulated the interference of the emperor and were generally respected. In Russia the tsars exercised complete domination over church affairs, except for the brief reign of Patriarch Nikon in the mid-17th century. In 1721 Tsar Peter the Great abolished the patriarchate altogether, and thereafter the church was governed through the imperial administration. The patriarchate was reestablished in 1917, at the time of the Russian Revolution, but soon afterward the Russian church was violently persecuted by the Communist government. As the Soviet regime became less repressive and, in 1991, broke up, the church started to regain its vitality. The Orthodox churches in Eastern Europe also faced persecution by oppressive Commun ist governments after World War II ended in 1945, but they too regained their authority in the 1990s and are slowly reestablishing their place in the moral, religious, and cultural life of their people.

Writing and Main Point

Here are four examples of how to start your essay with a strong main point: My dream is to become a civil engineer. Ever since I was a child with a Logo set, I have enjoyed building things. Engineering would let me express my love for creating things, and allow me to apply my science and math skills. In the future, I would like to become a teacher. Teaching seems like the perfect match for me because I enjoy working with children and teaching them new skills. Also, my own teachers have played an important role in my life and I hope to do the same for other students in the future. I want to become a chef Just like Sam Choc.To me, cooking is very creative and although it can look easy from the outside, it is often very dif cult to do well. Plus, I love to eat! Although I'm not sure what Job I will have, I do know that it will be in the FL led of medicine. I have learned a lot about nursing from my aunt, who has inspired me to consider a career in medicine. What will be one or two main points of YOUR essay? STEP 3: construct your Story The heart of your essay will be the stories and details you use to support your main point. Good examples also bring your main point to life and make your essay memorable.Notice how the essay is built up, in the example: Focus of essay: My dream Job is to be a crime scene investigator. This Job would combine my love of science with the challenge of solving a real life mystery. Details: I have always enjoyed science. This year I am taking Chemistry and have learned how various chemicals react and how you can test for the presence of different chemicals. Reading detective novels is a favorite pastime. It's a challenge to FL guru out â€Å"who did it. † Real life detective work would be much more exciting . I watch CSS every week. It's amazing how the simplest clue can lead to the arrest of a criminal.Just one tiny FL beer from the assailant's Jacket can lead to his capture. Law enforcement helps to keep the community safe. CSS detectives make sure that criminals do not get away with their crimes. STEP 4: End strong End your essay by shining a new light on the main point you started with, or leave the reader with something interesting to think about. Here are three examples: Medicine is a very honorable profession, since it seeks to help those who need it the most. I am looking forward to becoming a pre-med major in college and taking the first step toward becoming a doctor.Seeing people enjoy my cooking is one of the best feelings in the world. Becoming a chef is one way I can spread this Joy to many more. Hopefully someday I will even have my own restaurant named after me! Being a police officer, like my father, has always seemed like a dream. Going to college will not only make this dream possible, but it will also help me to reach my lifelong goal. STEP 5: Hear it O Try to put down your draft for a day so you can look at it with a fresh eye. Read your essay out loud and ask yourself and helpers (teache rs, friends, relatives, essay coaches) the following questions: Ђ Does it start with a bang?Does the first sentence make you want to read more? Do you know from the beginning what the essay is going to be about? Were you able to follow the story? Did you get lost anywhere along the way? Did it follow a logical order, or skip back and forth in a confusing way? Were there questions that came up that didn't get answered? Were there any words that you heard too many times? (Try to avoid using the same word twice in the same sentence. ) Was it interesting? Were there parts that could be livened up? Was it too long? Which parts should you cut out? Ђ Is it too short?

Democracy The People, The Founders, And The Troubled...

Taming Democracy: â€Å"The People,† the Founders, and the Troubled Ending of the American Revolution is a compelling book written by acclaimed professor and American historian Terry Bouton. Bouton effectively chronicles the tumultuous history of early American democracy during the latter half of the eighteenth century by focusing on Revolutionary Pennsylvania throughout his work. Bouton offers an innovative and controversial perspective to history scholars and amateur historians by arguing that the majority of Pennsylvania’s ordinary white male citizens were disillusioned by the version of democracy that transpired from the American Revolution. Bouton further asserts that the origins of non-elitist disillusionment began in 1776 when Pennsylvania’s revolutionaries waged a successful counter revolution against the state’s non-elites in an effort to control previously supported democratic ideologies, including wealth equality and a self-governing political s ystem. Consequently, the gentry’s decision to radically refashion the Pennsylvania government and increase economic and political control throughout the state ultimately led to social upheaval and insurrections among the ordinary citizen population during the postwar decade. Taming Democracy is organized chronologically and divided into three parts. In Part I, Bouton traces the origins of the American Revolution and the rise of democratic ideologies among Pennsylvania’s socially diverse male population in the 1760s and 1770s.Show MoreRelatedThe Model Minority, By President Lyndon B. Johnson1945 Words   |  8 Pagesused the term â€Å"model minority† to describe Japanese Americans and praised them for living â€Å"generally affluent and, for the most part highly Americanized lives†. The â€Å"model minority† label expanded to describe all Asian Americans for having a perceived higher socioeconomic level and higher education. 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