Earnings Disclosures and IFRS

Question: Discuss about the Earnings Disclosures and IFRS. Answer: Introduction: Currently the Target does not provide any kind of investment for Wesfarmers, whereas it depicts a change in its goodwill and asset valuation. However, according to the conceptual framework investment in Target should be recorded as historical costs recoding the overall cash or cash equivalent paid during the acquisition of the company. In addition, under impairment costs the overall decline in intangible and tangible assets of the company could be depicted. In addition, the impairment loses could be depicted from annual report of the company, which in turn help in portraying the adequate financial health. Malone, Tarca and Wee (2015) mentioned that conceptual framework allows companies to take adequate assumption on the overall asset valuation, which could help in strengthening their total assets. On the other hand, Vicentijevic, Jovic and Petrovic (2015) argued that the rising impaired assets of the company are warning signal of unethical measures used in preparing annual report of the organisation. Thus, in impaired expense Wesfarmers could conduct the overall investment of target. Depicting the relevant accounts in which Wesfarmers recorded investment in Target: Wesfarmers mainly recorded the overall investments conducted in Target in form of impairment expenses in their 2016 annual report. In addition, the impairment expenses conducted by Wesfarmers are mainly recorded in profit and loss statement. Moreover, there is no other accounts accept the notes to financial statement where Wesfarmers mainly conduct the impairment disclosure. In this context, Darrough, Guler and Wang (2014) mentioned that notes to financial statement holds all the relevant explanation for the listing conducted in cash flow, income, and balance sheet statement of the company. Furthermore, under the expense section of notes to financial statement impairment expenses of both Goodwill and plant is mainly mentioned. Moreover, segregation of impartment expenses on Target is not provided in the financial accounts, whereas it is mentioned in notes of finance. In page 86 of the annual report income statement of Wesfarmers is mainly depicted, which contains description of the i mpairment expense enlisted in total expenses. Besides, in page 97 of the annual report mainly depicts the notes of expenses, which contains the impairment expenses listed by the company. Filip, Jeanjean and Paugam (2015) stated that impairment loss is mainly recorded for disclosing the loss in value, while the company conducts no actual cash outflow. Depiction of the changes in goodwill is portrayed in page 102 of the annual report. Figure 2 mainly states the division of impairment expenses recognised by Wesfarmers for Target. The impairment expense of Target is mainly mentioned in the page 118 of annual report, which is adjusted in goodwill and plants. Moreover, around $1,208 million is depicted as goodwill revaluation, which mainly states the change in current strategic plan of Target (Wesfarmers.com.au 2017). Moreover, decrease in the overall plant and equipment is conducted to depict the overall loss incurred from revaluation. Jordan and Clark (2015) stated that companies to depict accurate value of the non-current assets mainly conduct revaluation of assets. Moreover, Wesfarmers also listed impairment expenses conducted on Curragh by revaluing the predominantly plant, vehicles and equipment. Depicting the impact asset write-down had on profitability of Wesfarmers: The overall impairment expenses mainly decreased the overall profitability of the company for current fiscal year. In addition, the impairment expense mainly increased the total expenses incurred in the income statement. Moreover, decline in revaluation of plant and goodwill could be witnessed in balance sheet. The asset write down had impact on both income and balance sheet statement of Wesfarmers. Linnenluecke et al. (2015) mentioned that impairment expense are non-cash spending, which has no effect on cash flow statement of the company. In addition, the news of more than 2 billion in impairment loss has negatively reflected on the share price of Wesfarmers. Lastly, the impairment loss mainly decreased the net profit of the company from $2,440 in 2015 to $407 in 2016 (Wesfarmers.com.au 2017). Depicting the impact of investment in Target on the financial performance of Wesfarmers: The overall figure 3 mainly states the investments conducted by Wesfarmers in Target and performance generated from the venture. However, in 2016 the overall return on capital employed went negative to 8.2, which was due to the declining profits achieved by the company. In addition, negative EBIT of 195 incurred by Target mainly resulted in profit reduction of Wesfarmers. This decline in EBIT mainly included the restriction provision of $145 million, but excluded the $1,266 million of non-impairment cash (Wesfarmers.com.au 2017). This change in the EBIT mainly states ability of the company to generate higher revenue, which in turn hampers Wesfarmers annual profits. The loss and impairment generated by Target mainly declined both its revenue and profits of Wesfarmers for 2016. Malone, Tarca and Wee (2015) mentioned that impaired lose incurred by companies does not reflect on the actual cash flow, while net profits decline for the fiscal year. This fall in non-tangible assets such as g oodwill mainly depicts the change in strategic move of the company, which does not project the required future growth. Thus, the evaluation of the annual report mainly states that the investment in Target is mainly a liability for Wesfarmers, which is mainly degrading the creditability of the company. In addition, the losses in impairments have negatively reflected on the share price of the company, as shareholders are uncertain of the growth prospects (Nugent, Pomelnikov and Webb 2017). Depicting the impact of Woolworths profit after investment in Masters: The annual report of Woolworths mainly depicts the discontinuation in the operations of Master, which was due to increased loses incurred by the subsidiary. In addition, figure 4 mainly depicts the overall decline in EBIT of Master, which contributed negatively to the overall profits of Woolworths. Moreover, exiting the overall Masters could inflict a total loss of $1.89 billion (Woolworthsgroup.com.au 2017). In addition, the declining profits of Masters negatively reflected on the overall income statement of Woolworths for 2016. In addition, the loss from discontinued operations, $3,188, was the main expense, which reduced the overall profits of the company. Roberts (2013) mentioned that losses from subsidiary companies are directly reflected on the overall performance of the parent company, which in turn reflects on the strategic move adopted by the management. Figure 5 mainly depicts the negative impact of discontinued operations, which increased impaired expenses of Woolworths for 2016. The impairment store cost of $3,005.1 was mainly incurred in 2016, which declined the overall profits of Woolworths for 2016 (Woolworthsgroup.com.au 2017). Vicentijevic, Jovic and Petrovic (2015) cited that impairments expense of plant and machinery and degraded value of its noncurrent assets, which negatively reflects on financial performance of the company. Thus, in page 99 and in 56 overall depiction of investment in Masters could be identified. In addition, it mainly states that Woolworths is mainly discontinuing the operations in Master, which is hampering overall profitability of the company. Reference: Darrough, M.N., Guler, L. and Wang, P., 2014. Goodwill impairment losses and CEO compensation.Journal of Accounting, Auditing Finance,29(4), pp.435-463. Filip, A., Jeanjean, T. and Paugam, L., 2015. Using real activities to avoid goodwill impairment losses: Evidence and effect on future performance.Journal of Business Finance Accounting,42(3-4), pp.515-554. Jordan, C.E. and Clark, S.J., 2015. Do Canadian Companies Employ Big Bath Accounting When Recording Goodwill Impairment?.International Journal of Economics and Finance,7(9), p.159. Linnenluecke, M.K., Birt, J., Lyon, J. and Sidhu, B.K., 2015. Planetary boundaries: implications for asset impairment.Accounting Finance,55(4), pp.911-929. Malone, L., Tarca, A. and Wee, M., 2015. Non-GAAP earnings disclosures and IFRS.Accounting and Finance. Nugent, J.H., Pomelnikov, A. and Webb, K., 2017. Intangibles: The Impaired Accounting Challenge. Roberts, P.W., 2013. The profit orientation of microfinance institutions and effective interest rates.World Development,41, pp.120-131. Vi?entijevi?, K., Jovi?, Z. and Petrovi?, Z., 2015. The impact of impairment of receivables on the reality of financial reporting in the Republic of Serbia. Wesfarmers.com.au. (2017). [online] Available at: https://www.wesfarmers.com.au/docs/default-source/reports/2016-annual-report.pdf?sfvrsn=8 [Accessed 26 Jan. 2017]. Woolworthsgroup.com.au. (2017). [online] Available at: https://www.woolworthsgroup.com.au/icms_docs/185865_annual-report-2016.pdf [Accessed 26 Jan. 2017].

Civil War North and South Similarities and Differences free essay sample

The north and south have always had different viewpoints upon their war. The north had battled because they needed to protect their unity. The south had fought to protect slavery and to keep their own state rights. Both sides had their reasons for battle. Now even though they did battle for different reasons, both sides also had thought that were similar to the other’s. Whether this is view is upon battle tactics or economical advances, the ideas might have been extremely similar. Unbeknownst to the other side, the ideas could easily be compared. Of course, they were many thoughts that were the exact opposite of what the other side was thinking. This essay will help you understand the similarity and differences of the viewpoints of the North and the South. The North was fighting so that they could protect their country and wanted to end slavery. The North at first was fighting the South because they had begun the war, not for the abolishment of slavery. We will write a custom essay sample on Civil War: North and South Similarities and Differences or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Most of the North, including the President himself, was fine with slavery. It Document 1, President Lincoln states that he has no problems with slavery as long as it stays within the states it has already been a part of and not into any new territories. Both sided of this war were trying to fight for the general thing, their freedom of rights. They battled to keep unity within their country. Soon, the President realized that slavery was the reason that the country was being torn apart and finally decided to write the Emancipation Proclamation. The South was fighting because they wanted to keep slavery and the state rights they created after they seceded from the Union. The south seceded from the north because they were tired of complaints from the north about slavery. The seceded states decided to form their own country called the Confederate States of America. These created their own Constitution and created new governments and military. Their federal views were the same it was only the matter of slavery that had divided the South. After the Emancipation Proclamation, many southerners had hatred for the north, but they could not do anything because the Confederate Constitution was abandoned and the country was whole once again. The similarities between both â€Å"countries† were minimal. The ones that did exist however were crucial. For example, the most important one was that both countries were fighting over slavery and state rights. Of course, they views on these topics is a difference. Another similarity is military tactics. Both sides had amazing commanders and both knew many tactics. Once again, a  the tactics were different but either way brilliant. The standards for getting soldiers were also the same. Both sides had set a drafting law to make sure their soldier count would increase. Now, the similarities are a short amount but they are extremely important. Of course there are many more differences in this rebellion. The most important difference between the two sides is their view on slavery. The Union has two different views upon it. They believe that it is fine but only if it does not enter new states.The other view was that it should be rid of completely. On the Confederate side, the view was the same all over: slavery is the only way of life for them. In one document, this views are all stated by 2 Union soldiers, and one Confederate general. Also, their economy was another problem. The North was an industrial wonderland. The South needed agriculture to fuel their economy

An Example of a Stanford Essay Sample

An Example of a Stanford Essay SampleAn example of a Stanford essay sample is something that a student should take the time to review if they are writing for a final exam. The fact that there are a number of different essays to choose from makes it even more important that a student chooses one that is useful and helpful in guiding them throughout the essay process. While some students may be tempted to write an essay based solely on their own opinions, this is rarely helpful when it comes to writing a good essay.A good Stanford essay sample will allow the student to understand how an essay should be written and more importantly, how the author should feel when they are finished. A good essay will allow the reader to think about what the writer is trying to accomplish and why. While a good essay does not necessarily have to come from the writer, it can help the student achieve this.There are a number of different essays that are included with Stanford sample papers. Some examples inc lude those which revolve around romance, funny stories, or even theories on art and culture. All of these essays can be used by any student looking to take their study skills to the next level.English is an extremely difficult subject to master but it does not have to become an entirely depressing one. It is not something that can be taught in a class or taught in a few months but can instead be learned by just taking the time to write. If a student chooses to learn how to write an essay then they should take the time to go through a Stanford essay sample.Most students do not consider an essay as something that they need to spend time on unless it is part of a final examination. This is because they do not know what the writing process can be like. It is highly recommended that any student, including students in college, look into a number of different essays to make sure that they write a great one.If a student does not plan on going through a Stanford essay sample, they should fin d another way to make sure that they can gain the knowledge they need. They can also take the time to look at other essay examples, online and offline, before they take the time to write an essay. In many cases this can be done through the use of an essay writing software that can help students plan out their essays before they even start writing them.A Stanford essay sample may also be taken on by a student who is planning on earning their Bachelor's degree. If a student is very interested in writing they may find that the experience is quite educational and beneficial for them. It is important to remember that an essay may take a great deal of work and effort on the part of the student but this can only be done through constant practice.Students should take the time to check out a number of different essays that are available for the same reasons they look at a Stanford essay sample. When a student has a number of essays that they can choose from, they will have a much better idea of what type of essay they will be working on. This can be especially helpful for a student who is just starting out since it will give them a better idea of what the process is like.

Join The Year-Up Program Essay Sample Essay Example

Join The Year-Up Program Essay Sample Paper I can say the reason I want to join the year-up program is that I am young and very devoted to learning new things. Also, I have reached that point in my life when I realize that I have to be more independent, responsible, and mature. I have to make my own smart decisions to determine how successful Ill be in life. The reason I think I am a good candidate for this year-up program is that Im used to the two terms hard work and determination. The reason I say this is because I started this school on the Southside of Chicago Christian Fenger High School. As I began to go there I realized that high school, in particular, wasnt pushing me to my full potential. I needed something that would push me to my highest limit. My road to the year-up program So I started to look around for better schools in the area. That is when I ran across DeVry Advantage Academy High School. Its a program that gave me the opportunity to graduate with my college degree in Network Systems Administration when I graduate from high school. And Boy did I pick a school, DeVry pushed me to limits that I never thought I had. Coming from a different background I was very quiet and antisocial my junior year at DeVry because I didn’t know how to talk to other races of people, It was a big step and a big change for me. But as I started to go to the program I started to warm up to the idea and the people that I was going to school with on a daily basis was pretty cool. I have learned a lot about different culture and ethnicity. At DeVry, I can’t say that I have made friends I have made the family. There are many words that I could give you to describe me but there is one word in particular that I could say that stands out from the rest, and that word is dedication. My motivation to the year-up program We will write a custom essay sample on Join The Year-Up Program Essay Sample specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Join The Year-Up Program Essay Sample specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Join The Year-Up Program Essay Sample specifically for you FOR ONLY $16.38 $13.9/page Hire Writer When I start something I stick with it to the end, no matter how many people doubt or look down on me I will always stay strong until the end. I have overcome so much in my life to just give up now; when I was 15 years old I lost my mother to cancer. This left me emotionally scared because I was very close to my mother ( Best Friend) and the thought of never seeing her again just killed me inside. As time passed I stopped really caring about a lot of things, such as school and even my own safety. I started to get into a lot of fights and really didn’t care much for school work. I cut myself from friends and family and just stayed to myself. Until one day I heard my father in his room crying it was kind of a shock to hear him that way because I never heard him cry before. Then I realized that I wasn’t the only person that lost someone special. My father was left with 4 children to take care of all by him, I had to realize that he didn’t have help anymore that he had to be the mother and father of the house and the things I was doing was just adding on to the stress from my mother passing away. So then I asked myself the most life-changing questions that I have ever asked myself what would my mother want?, what do I really want out of life? This caused me to go to school do all my work and even start communicating with my family and friends again. Then I realized that I really enjoy learning new things and advancing intellectually. I can say that my worst fear is being a failure Being a grown man wishing I finished high school or college, stressed out trying to figure how I’m about to pay my rent for next month and not being able to provide and help my family when they really need it. Both sister and my brother and even my father have recently had children. This has made life a little more stressful and hard. My brother and sisters have dropped out of college and started work at minimum wage jobs to provide for their children. I sometimes wish I could show them that their lives don’t have to stop here. And show my father that he is not alone and show him that I can be that man that he and mother raised me to be.

The Divided Line and The Allegory of the Cave free essay sample

?It is important to realize, when reading the allegory of the cave and of the line, that Plato means to depict not only four ways of thinking, but four ways of life. To use an example, imagine that a person in each of these stages were asked to say what courage is. The understanding of courage would differ widely from stage to stage. Working with a possible interpretation of the imagination stage, an individual’s notion of courage in this stage would appeal to images from culture. Such an individual might try to explain courage by saying something like, â€Å"Luke Skywalker seems really courageous, so that’s courage. An individual possessed of beliefs would also appeal to a particular example, but the example picked would be drawn from real life. There might be mention of the Marines or New York City firemen. Someone at the stage of thought, in contrast, will try to give a definition of courage. We will write a custom essay sample on The Divided Line and The Allegory of the Cave or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Perhaps they will give the definition offered by Socrates in Book IV: courage as the knowledge of what is to be feared and what is not to be feared. What separates the person speaking from thought from the person possessed of understanding is that the person speaking from thought cannot inform his views with knowledge of the Form of the Good. They are working with unproven hypotheses rather than the true first principle. Even if their definition is correct, it is left open to attack and objection because their grasp of the relevant concepts stops at a certain point. Speaking from understanding, someone giving a definition comprehends all the terms in the definition and can defend each one of them based on the first principle, the Form of the Good. Because the Form of the Good illuminates all understanding once it is grasped, knowledge is holistic. You need to understand everything to understand anything, and once you understanding anything you can proceed to an understanding of everything. All the forms are connected, and are comprehended together in the following way: you work your way up to the Form of the Good through thought until you grasp the Form of Good. Then, everything is illuminated. Since the stages in the cave are stages of life, it seems fair to say that Plato thought that we must all proceed through the lower stages in order to reach the higher stages. Everyone begins at the cognitive level of imagination. We each begin our lives deep within the cave, with our head and legs bound, and education is the struggle to move as far out of the cave as possible. Not everyone can make it all the way out, which is why some people are producers, some warriors, and some philosopher-kings. Given that the philosopher-kings have made it out of the cave, it might seem unfair that they are then forced back in. This is the worry that Socrates’s friends raise at the end of this section. Socrates has three lines of response to this concern. First, he reminds us again that our goal is not to make any one group especially happy, but rather to make the city as a whole as happy as possible. Second, he points out that the philosopher-kings are only able to enjoy the freedom above ground that they do because they were enabled by the education the city afforded them. They were molded to be philosopher-kings so that they could return to the cave and rule. They owe the city this form of gratitude and service. Finally, he adds that the philosophers will actually want to rule—in a backhanded way—because they will know that the city would be less just if they refrained from rule. Since they love the Forms, they will want to imitate the Forms by producing order and harmony in the city. They would be loathe to do anything that would subject the city to disorder and disharmony. Socrates ends by remarking that the reluctance of the philosopher to rule is one of his best qualifications for ruling. The only good ruler rules out of a sense of duty and obligation, rather than out of a desire for power and personal gain. The philosopher is the only type of person who could ever be in this position, because only he has subordinated lower drives toward honor and wealth to reason and the desire for truth.

Synthesis of Aspirin Lab Report Essays

Synthesis of Aspirin Lab Report Essays Synthesis of Aspirin Lab Report Paper Synthesis of Aspirin Lab Report Paper Essay Topic: Synthesis After the reaction was complete some unrelated acetic anhydride and salicylic acid was still be present in the solution as well as some sulfuric acid, aspirin, and acetic acid. Crystallization, which Uses the principle of solubility, was then used to remove most of the impurities and caused the ecstatically acid to precipitate out of the solution. Next, the crude product was then purified by adding water which further lowered the solubility of ecstatically acid and dissolved some impurities from the crystal of aspirin. The aspirin was then isolated from the solution using a vacuum filtration apparatus. The percent yield of crude aspirin product was 91. 89%. To purify the crude aspirin product a rationalizations procedure was performed. The percent yield of the purified aspirin product was 5. 77%. Next a phenol test was performed on the crude aspirin product, the purified aspirin product, and salicylic acid as a control. The phenol test was to test the purity of the aspirin product that was created during the experiment. The crude aspirin product and the purified aspirin product had no color changes and remained orange when mixed with the iron (Ill) chloride solution, which means that there were no phenol groups in both the crude aspirin product and the purified aspirin product. The lack of action with the iron (Ill) chloride revealed that both the crude aspirin product and the purified aspirin product were pure aspirin. The salicylic acid turned into a dark purple color when mixed with the iron (Ill) chloride solution, which was expected since salicylic acid has phenol groups. Next a melting point test was performed on the purified aspirin product. The purified product started to melt at 86 degrees Celsius and finished completely melting at 102 degrees Celsius. The melting point of the purified product was lower than the expected 135 degree Celsius melting point of aspirin, which revealed to us that the purified aspirin reduce still contained some impurities. Introduction: As early as 3000 BC ancient cultures such as Greek, Roman, Egyptian, and Chinese found that extracts from plants such as willow bark, meadowsweet, and myrtle possessed the ability to alleviate fever, pain, and inflammation. These plants contain a compound called silicates, which creates these curative attributes. Several of years later the folk remedy of plants containing silicates transformed into the cure-all medication known as aspirin. Today aspirin, also known as ecstatically acid, is an over the counter medication that is extremely popular and is used for relieving pain, reducing fever, reducing swelling, and slowing blood clotting. The history of aspirin began in 1763 when Edward Stone wrote a paper to the Royal Society of London that claimed that willow bark could cure ague, which is now known as malaria. Later it was found that the treatment did not actually cure malaria, but instead just reduced the fever of those with the disease. Nearly a century later, a Scottish physician found that Edward Stones extract could also be used to relieve the symptoms of acute rheumatism. Organic chemists began working with willow bark and many other plants to try and extract and isolate the active ingredients from them, in doing so it was found that the active ingredient was salicylic acid. Salicylic acid was then industrialized for medicinal use, but soon after industrialization it was found that salicylic acid was extremely limited as a treatment because of the acidic properties that cause severe irritation in the digestive tract. In 1 893, Felix Hofmann synthesized ecstatically acid, which has all of the same medicinal benefits as salicylic acid but it did not have the side effect of irritating the digestive tract. Hofmann worked for Brayer, which then named ecstatically acid compound aspirin. Aspirin became commercially available in 1899 and today it is estimated that over a trillion aspirin tablets have been consumed by those in need of its curative effects. In this experiment aspirin was synthesized from salicylic acid and acetic anhydride. Salicylic acid was justified using acetic acid and sulfuric acid acting as a catalyst to produce ecstatically acid and acetic acid. The phenol group that will attack the carbonyl carbon of the acetic anhydride is the -OH group that is directly attached to the benzene since it is more basic than the -OH group attached to the carbonyl group. This method of forming ecstatically acid is n sterilization reaction. Since this sterilization reaction is not spontaneous, sulfuric acid was used as a catalyst to initiate the reaction. Sulfuric acid serves as the acid catalyst since its conjugate base is a strong deportation group that is necessary in order for this reaction to be reversible. The need for the strong conjugate base is the reason why other strong acids such as HCI is not used since its conjugate base CLC- is very weak compared to HASH-. After the reaction was complete some unrelated acetic anhydride and salicylic acid was still be present in the solution as well as some sulfuric acid, aspirin, and acetic acid. Crystallization, which uses the principle of solubility, was then used to remove most of the impurities and caused the ecstatically acid to precipitate out of the solution. This precipitation happens because the solvent can no longer hold all of the solute molecules, and the molecules begin to leave the solution and form solid crystals. During this cooling, each solute molecule in turn approaches a growing crystal and rests on the crystal surface. If the geometry of the molecule fits that of the crystal, it will be more likely to remain on the crystal than it is to go back into the solution. Therefore, each growing crystal consists of only one type of molecule, the solute. The ecstatically acids solubility decreased and caused it to gradually precipitate out of the solution while the other compounds were left in solution because they were either a liquid at room temperature or have higher solubility and would not completely crystallize out of the solution. After the solution had come to room temperature, it was carefully submerged in an ice bath to complete the crystallization process. To purify the crude product, water was added to solution to further lower the solubility of ecstatically acid and to solve some of the impurities from the crystal. The chilled solution was then filtered through vacuum filtration to isolate the pure crystals. Vacuum filtration was the technique used for separating the solid aspirin product from the solvent or liquid reaction mixture. The mixture of solid and liquid was poured through a filter paper in a Boucher funnel. The solid aspirin product was trapped by the filter and the liquid was drawn through the funnel into the flask below it by a vacuum. The aspirin product that was collected still contained some impurities. The general reaction equation and the reaction mechanism are as follows: To purify the crude aspirin product a rationalizations procedure needed to be performed to remove impurities and to further purify it. Rationalizations utilizes the different solubility of the desired product and impurities included in the reaction mixture. So, when the solvent cools, only the impurities will remain dissolved and the pure product will crystallize out of the solution. The information we gather will allow us to determine the percent yield of the crude aspirin product and of the purified aspirin product. The percent yield is a way of measuring how successful a reaction has been. Percent yield problems allow us to calculate what percent of the expected product we are able to account for by the end of our experiment. Actual amount of product x 100 Percent yield amount of product Expected Next, a phenol test must be performed to determine the purity of the aspirin product. The impurities that could be in the purified aspirin product could be salicylic acid and other compounds that contain a hydroxyl group on a benzene ring and are known as phenols. Phenols form a highly colored complex with iron (Ill) chloride that can range from a pale to dark purple depending on the incineration of the phenol group present in the solution. Pure aspirin does not contain any phenol groups and should be enervative when mixed with the iron (Ill) chloride solution and should remain orange in color. Another way the purity of the sample is tested is through a melting point test on the purified aspirin product. A pure compound has a specific range in which it melts and it is normally a fairly small range. If the melting point of the purified aspirin sample is lower than the expected or if it has a very broad range compared to the actual range, then the sample still contains some impurities. Experimental: In a 125 ml Erlenmeyer flask add 5 ml of acetic anhydride, 1. Egg of salicylic acid, and 5 drops of sulfuric acid. Swirl the mixture in the Erlenmeyer flask for approximately one minute so that all of its contents have completely dissolved. Heat the mixture using a water bath for 10 minutes. The water bath temperature should not exceed 50 degrees Celsius. While heating the mixture, measure out 70 ml of ODL water and then put it in a 100 ml beaker. Also, set up an ice bath for the mixture in the Erlenmeyer flask as well as a second ice bath for the 100 ml beaker while waiting for the mixture in the Erlenmeyer flask to heat. After he mixture has heated for 10 minutes, remove it from the water bath and allow it to cool to room temperature. Crystallization should begin once the solution reaches room temperature. If crystallization does not occur use a glass stirring rod and with strong force scratch the bottom of the Erlenmeyer flask. Cool the Erlenmeyer flask containing the mixture in the ice bath set up previously for 20 minutes. At the same time place the 100 ml beaker containing 70 ml ODL water in the second ice bath set up previously for 20 minutes. While waiting for those items to cool, set up the vacuum filtration apparatus. After 20 minutes of lolling, take 50 ml of the 70 ml now cooled ODL water from the 100 ml beaker and add it to the 125 ml Erlenmeyer flask that contains the mixture. Leave the 125 ml Erlenmeyer flask that contains the mixture in its ice bath and allow it to cool for an extra 5 minutes. Also leave the remaining 20 ml of DID water in the 100 ml beaker in its ice bath. After cooling for an additional 5 minutes, pour the contents in the ml Erlenmeyer flask into a Boucher funnel attached to the vacuum filtration apparatus. Make sure to get as much of the product into the Boucher funnel as possible. Use the remaining 20 ml of ODL water in the 100 ml shaker to rinse out the 125 ml Erlenmeyer flask and wash the product in the Boucher funnel. Allow the sample to vacuum dry for 5 minutes. While waiting for the sample to vacuum dry weigh a weigh boat. After the sample has dried for 5 minutes, turn off the vacuum filtration apparatus and retrieve the crude product from the Boucher funnel and place it in the previously weighed weigh boat. Weigh the weigh boat with sample inside and record the mass of the crude product formed. Calculate the percent yield of the product formed. Next, place a few crystals of the crude product in a test tube labeled A and put to the side for later use. Reweigh your sample and record the new mass sample. Now place the crude product from the weigh boat in a 25 ml Erlenmeyer flask and add 3 ml of ethyl acetate. Heat the 25 ml Erlenmeyer flask in a water bath (not to exceed 50 degrees Celsius) until all of the product has dissolved. After 5 minutes if the product has not completely dissolved, add ml more of ethyl acetate. Place the 25 ml Erlenmeyer flask containing the product and ethyl acetate directly on the hot plate at 50 degrees Celsius. Raise the temperature of the hot plate to 125 degrees Celsius so that the solution boils. Keep a close eye on the Erlenmeyer flask. Heat the mixture for 5 minutes. After heating the mixture for 5 minutes, gravity filter what is in the 25 ml Erlenmeyer flask through filter paper. Put what goes through the filter paper back in the 25 ml Erlenmeyer flask and add petroleum ether drop by drop until crystals begin to form. If crystals do not form, place the 25 ml Erlenmeyer flask on a hot plate at 125 degrees Celsius with a boiling stone in the mixture. Wait for the mixture to boil and then let it boil for 5 minutes. After boiling for 5 minutes remove the 25 ml Erlenmeyer flask and remove the boiling stone. Allow the mixture to cool to room temperature. Scratch the bottom of the Erlenmeyer flask with a glass stirring rod with strong force. Place the Erlenmeyer flask in an ice bath for 30 minutes. Pour the contents in the 25 ml Erlenmeyer flask into a Boucher funnel attached to a vacuum filtration apparatus. Allow the product to vacuum dry for 5 minutes. While waiting for the sample to vacuum dry weigh a weigh boat. After the sample has dried for 5 minutes, turn off the vacuum filtration apparatus and retrieve the purified product from the Boucher funnel and place it in the previously weighed weigh boat. Weigh the weigh boat with sample inside and record the mass of the reified product formed. Calculate the percent yield of the product formed. Next, place a few crystals of the purified product in a test tube labeled B. Next perform the phenol test. You must have three test tubes, one labeled A with the crude aspirin product in it, one labeled B with the purified aspirin product in it, and one labeled C with salicylic acid in it. The third test tube labeled C is a control. Add 10 drops of iron (Ill) chloride to each test tube. Record the color observations. After recording the color of each test tube dispose of the waste into the appropriate waste container. Next, obtain a capillary tube. Fill the capillary tube with dry purified product. Invert the capillary tube and stick the open end of the capillary tube in the densest part of the crystal sample. Turn the capillary tube back to the upright position. The crystal product will be stuck at the top of the capillary tube. Tap the crystal product down to the bottom of the capillary tube. Load the capillary tube into the melting point apparatus and begin heating. Record the temperature range that the sample melts within. Once the melting point has been determined turn off the apparatus so it may cool and dispose of your capillary tube in the appropriate waste bin. Clean and dry any glassware used and return it to the appropriate location. Results: Conclusion: The mass of the crude aspirin product was 4. 791 g. Due to apparent wetness of the product it is estimated that half of the mass is due to moisture. Taking this into account, the actual mass of the crude aspirin product is reduced to 2. Egg. The theoretical yield of crude aspirin product is 2. Egg. This information gave us a percent yield of 91. 89%. The mass of the purified aspirin product was 0. 301 g. Due to apparent wetness of the product it is estimated that half of the mass is uh to moisture. Taking this into account, the actual mass of the purified aspirin product is reduced to O. Egg. The percent yield of purified aspirin product was 5. 77%. This low percent yield of purified aspirin product was due to a few different factors. The first factor that caused a low percent yield was caused because we lost some crude product when we were moving our crude product from the weigh boat to the 25 ml Erlenmeyer flask. Another factor that could have caused a low percent yield was that when no crystals formed after adding drops of petroleum ether we placed our 25 ml Erlenmeyer flask back on the to plate at 125 degrees Celsius. We could have accidentally boiled off some of our product. The third factor that caused a low percent yield of our purified product was that when we vacuum filtered our purified product, some of our purified product fell through the filter and into the side arm flask. Maybe if we hadnt turned the water on so high it might not have fell through the filter. The results of the phenol test were that test tube A, which contained crude aspirin product, had no change in color and remained orange upon adding iron (Ill) chloride. This led us to believe that our crude aspirin product did not contain NY phenol groups and was pure aspirin. Test tube B, which contained purified aspirin product also had no change in color and remained orange upon adding iron (Ill) chloride. This led us to believe that our purified aspirin product did not contain any phenol group and was pure aspirin. Test tube C, which contained salicylic acid, had an extreme change in color and turned dark purple. This was an expected result because salicylic acid has phenol groups and when iron (Ill) chloride is added it turned dark purple due to the concentration of the phenol groups present in the solution. Test tube C was our control.

Micro economic environment Essay Example

Micro economic environment Essay Example Micro economic environment Paper Micro economic environment Paper The economic environment consists of external factors in a business market and the broader economy that can influence a business. You can divide the economic environment into the microeconomic environment, which affects business decision-making such as individual actions of firms and consumers, and the macroeconomic environment, which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business, which means that you have little, if any, control over them. Lets take a look at both of these broad factors in more detail Macroeconomic influences are broad economic factors that either directly or indirectly affect the entire economy and all of its participants, including your business. These factors include such things as: Interest rates Taxes Inflation Currency exchange rates Consumer discretionary income Savings rates Consumer confidence levels unemployment rate Recession Depression Microeconomic factors influence how your business will make decisions. Unlike macroeconomic factors, these factors are far less broad in scope and do not necessarily affect the entire economy as a whole. Microeconomic actors influencing a business include: Market size Demand Us apply Competitors Suppliers Distribution chain such as retailer stores Why Is It Important? The economic environment of business will play a pivotal role in determining the success or failure of a business. Lets first consider some macroeconomic factors. If interest rates are too high, the cost of borrowing may not permit a business to expand. On the other hand, if unemployment rate is high, businesses can obtain labor at cheaper costs. However, if unemployment is too high, this may result in a recession and less discretionary consumer pending resulting in insufficient sales to keep the business going. Tax rates will take a chunk of your income and currency exchange rates can either help or hurt the exporting of your products to specific foreign markets. Now, lets turn our attention to microeconomic factors for a bit. Market size may determine the viability of entering into a new market. If a market is too small, there may not be sufficient demand and profit potential. This leads us to the concept of demand and supply. If your product is in high demand but there is low supply of it, you are going to make a tidy profit, but if your product is in low demand and the market is flooded with similar products, you may be facing bankruptcy. The quality and quantity of your competition will affect how well you do in winning customers in the marketplace. Suppliers are the arteries pumping vital supplies and resources to you for production. If you have problems with suppliers, it can clog up those arteries and cause serious problems. Likewise, the type of relationship you have with your distributors, such as retail stores, may influence how quickly your products leave their helves. Summary The environment in which a business operates is very complex and has a great deal of influence on how a business performs and whether it will succeed. Macroeconomic factors influence not only a business but also all participants in an economy and include such things as interest rates, inflation, unemployment rates, taxes, discretionary spending, periods of growth and recession. Microeconomic factors also influence the success or failure of a business and include such things as market size, demand, supply, competitors, suppliers, and distributors.