Sunday, May 24, 2020

The Tiber River of Rome

The Tiber is one of longest rivers in  Ã¢â‚¬â€¹Italy, the second longest river after the Po. The Tiber is about 250 miles long and varies between 7 and 20 feet deep. It flows from the Apennines at Mount Fumaiolo through Rome and into the Tyrrhenian Sea at Ostia. Most of the city of Rome is to the east of the Tiber River. The area to the west, including the island in the Tiber, Insula Tiberina or Insula Sacra, was included in Region XIV of Caesar Augustuss administrative areas of the city of Rome. Origin of the Name Tiber The Tiber was originally called Albula or Albula (white or whitish in Latin) supposedly because the sediment load was so white, but it was renamed Tiberis after Tiberinus, who was an Etruscan king of Alba Longa who drowned in the river. Ancient historians refer to the river as yellow, not white, and it is also possible that Albula is the Roman name for the river, while Tiberis is the Etruscan one. In his History of Rome, the German classicist Theodor Mommsen (1817–1903) wrote that the Tiber was the natural highway for traffic in Latium and provided an early defense against neighbors on the other side of the river, which in the area of Rome runs approximately southward. The Tiber and its god, Tiberinus or Thybris, appear in several histories but most prominently in the first century BCE Roman poet Vergils The Aeneid. The god Tiberinus functions as a fully integrated character in The Aeneid, appearing to the troubled Aeneas to advise him, and most importantly, to prophesy a magnificent destiny for Rome. Tiberinus the god is a rather majestic figure, who introduces himself in a long, long passage in the Aeneid, including: The god am I, whose yellow water flowsAround these fields, and fattens as it goes:Tiber my name; among the rolling floodsRenown’d on earth, esteem’d among the gods.This is my certain seat. In times to come,My waves shall wash the walls of mighty Rome.† History of the Tiber In antiquity, ten bridges were built over the Tiber: eight spanned the main channel while two permitted access to the island; there was a shrine to Venus on the island. Mansions lined the riverside, and gardens leading to the river provided Rome with fresh fruits and vegetables. The Tiber was also a major thoroughfare for the Mediterranean trade of oil, wine, and wheat. The Tiber was an important military focus for hundreds of years. During the third century BCE, Ostia (a town on the Tiber) became a naval base for the Punic Wars. In the 5th century BCE, the Second Veientine War was fought over control of a crossing of the Tiber. The disputed crossing was at Fidenae, five miles upstream from Rome. Attempts to tame the Tibers floods were unsuccessful in classical times. While today the river is confined between high walls, during Roman times it regularly flooded. The Tiber as a Sewer The Tiber was connected with the Cloaca Maxima, the sewer system of Rome, which was said to have been first built by the king Tarquinius Priscus (‎616–579 BCE) in the 6th century BCE. Tarquinius had the existing stream expanded and lined with stone in an attempt to control storm water—rain flowed downhill to the Tiber through the Cloaca, and it regularly flooded. In the third century BCE, the open channel was lined with stone and covered with a vaulted stone roof. The Cloaca remained a water control system until the reign of Augustus Caesar (ruled 27 BCE–14 CE). Augustus had major repairs made to the system, and connected public baths and latrines, turning the Cloaca into a sewage management system. Cloare means to wash or purify and it was a surname of the goddess Venus. Cloalia was a Roman virgin in the the early 6th century BCE who was given to the Etruscan king Lars Porsena and escaped his camp by swimming across the Tiber to Rome. The Romans (at the time under the rule of the Etruscans) sent her back to Porsena, but he was so impressed by her deed that he freed her and allowed her to take other of the hostages with her.   Today, the Cloaca is still visible and manages a small amount of Romes water. Much of the original stonework has been replaced by concrete. Sources and Further Reading Leverett, Frederick Percival. A New and Copious Lexicon of the Latin Language. Boston: J. H. Wilkins and R. B. Carter and C. C. Little and James Brown, 1837. Print.Mommson, Theodor. The History of Rome, Volumes 1–5. Trans. Dickson, William Purdie; Ed. Ceponis, Daid. Project Gutenberg, 2005.  Rutledge, Eleanor S. Vergil and Ovid on the Tiber. The Classical Journal 75.4 (1980): 301–04. Print.Smith, William, and G.E. Marindon, eds. A Classical Dictionary of Greek and Roman Biography, Mythology, and Geography. London: John Murray, 1904. Print.

Wednesday, May 13, 2020

“No One Knowingly Does Evil” by Socrates. Essay - 1067 Words

The argument which I am focusing on is titled â€Å"No One Knowingly Does Evil† and is written by Socrates. This argument concludes that those who do evil things do them involuntarily. That is, people do not necessarily want to do evil things, but do them against their will. A very important point is presented by Socrates in that evil deeds are not done willingly. It is thought by many that some people are simply evil-natured and commit evil deeds because they want to. However, Socrates is arguing that this is not true. By doing this, he is going against common thought and presenting a very debatable conclusion. I will evaluate the argument so as to prove it is a legitimate possibility for the conclusion to be true. It will be shown why†¦show more content†¦I think the key to this statement being false is the word â€Å"all.† Sometimes, people want to cause harm to someone else in order to get back at them or to serve justice. If they think they are j ustified, that person would be more willing to commit an evil act. The second premise, in my opinion, is true. I do not think that a person, without outside influence, would simply do something which they do not want to. If it is not something a person wants to do, chances are it won’t be done. Therefore, I think this premise is true. When evaluating the entire argument as a whole, I determined it to be valid. It is logical to move from premise one to premise two and develop the provided conclusion. Even though I believe premise one to be false, the argument is still valid. This is because, if it were true, it would make sense to draw that conclusion from those two statements. The conclusion does not present any new information not given in the premises either. The argument automatically becomes unsound because premise one is false. It is impossible for the argument to be sound by definition. I believe one objection would be that in certain circumstances there are dire needs. That is, someone would do an evil deed because it was absolutely necessary. For example, if a family had been kidnapped, there would be everything done in order to bring them home safely, even if some of it involved a form of evil. ThisShow MoreRelatedThe Philosophy Of Human Nature1140 Words   |  5 Pagesits simplest form, is the ability for one to control one’s own actions. Through the will, the morality of the action is entirely decided by the doer. Augustine professes the will simply permits the doer to do evil. In Socrates’ assertion, free will is contingent on self-control because without it, one can find oneself enslaved to a material thing or desire. Based on reading and prior knowledge, it can be deduced that the only thing that can truly keep one from vice is free will. As Augustine examinesRead MoreAre Socretes Arguments about Death Sound? 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Using this technique, he seems to always focus on three main aspects: justice, virtue, and morality. Socrates claims that he has no wisdom. He states, â€Å"I know I have no wisdom, great or small.† The world has an infinite number of possibilities and anything he dec lares understanding, is extremely minimal compared to the possibilities that existRead MoreThe Unexamined Life Is Not Worth Living Analysis1870 Words   |  8 Pagescombined? Socrates, often thought of as the father of western philosophy, claimed that knowing one’s self and living virtuously, is what makes life worth living. â€Å"the unexamined life is not worth living† and â€Å"Know Thyself† are both common quotes from Socrates, that help us define his concepts of psyche, and techne, and how these concepts form together to explain virtue and his view of intellectualism or reason over ego. First, let’s look at the word virtue and see what it meant to Socrates. To mostRead MoreSocrates s Value Of Athenian Law1586 Words   |  7 Pageswhen we feel it does not apply to us, that laws such as the speed limit are not real laws because everyone breaks them. In 399 BC, Socrates would have disagreed with this assertion, and died in part to keep this idea from spreading. Socrates was sentenced to death by an Athenian court, though the punishment did not fit the crimes he was accused of. We assume that any knowingly innocent person would have escaped this sentence if given the opportunity and support to do so, yet Socrates refused to and

Wednesday, May 6, 2020

The Negro Movement Free Essays

Looking back at the history of the culture that has risen from the ashes; one may be quite surprised just how far the African American culture has come. The progression of the African American culture is indeed one to be proud of. From cotton fields to Harlem, â€Å"The New Negro Movement†, sparked a sense of cultural self-determination, with a yearning to strive for economic, political equality, and civic participation. We will write a custom essay sample on The Negro Movement or any similar topic only for you Order Now This was a movement that sparked a wide range of advancements in the African American culture. Leaving footprints of great individuals as well as set a path way for future generations to follow; setting a trend for Black greatness. After the American Civil War there was a spark within the African American culture to diminish the legacy of slavery. It started in 1908, with the development of the NAACP (The National Association of Colored People), which led the fight against racial discrimination. What is known as â€Å"The Great migration† in 1914 was the migration of over 500,000 or more Blacks in a six year period; for industry jobs, and overall better opportunities. Blacks were leaving the South headed North in search for something new. This was the escape they longed for from oppressive living and social conditions that threatened life. New York was one of the more appealing states, considering New York schools prohibited separate schools for African Americans. Therefore, education was also made easier for African Americans. By 1819 Harlem, New York had the highest count of Black people in the world. In 1916-17, Hubert Harrison; whom is considered the father of â€Å"The New Negro Movement† established his first association â€Å"The Liberty League†, along with his first newspaper. During the 1920’s and 1930’s, African Americans expressed themselves through Literature, Art, Music, Drama, Movies, and protest. Mr. Harrison encouraged Blacks to expand and improve through education, awareness, and Afro-centric community programs. With â€Å"The Voice† of â€Å"The New Negro Movement† energized the Black community to demand equality. This was in fact the birth of the Harlem Renaissance. The Harlem Renaissance is the name given to the period from the end of World War I and through the 1930’s Depression era. During this time, there were many great literary works to come about. A group of writers produced a great group of Literature. Some of those writers include: Alain Locke, who described himself as the â€Å"midwife† to aspiring young black writers of the 1920s. In a 1925 essay entitled ‘The New Negro’, Howard University Professor of Philosophy Alain Locke described this transformation as not relying on older time-worn models but, rather, embracing a ‘new psychology’ and ‘new sprit’. Central to Locke’s prescription was the mandate that the ‘New Negro’ had to ‘smash’ all of the racial, social and psychological impediments that had long obstructed black achievement. Six years prior to Locke’s essay, the pioneering black film maker Oscar Micheaux called for similar changes. In his film Within our Gates, Micheaux represented a virtual cornucopia of ‘New Negro’ types: from the educated and entrepreneurial ‘race’ man and woman to the incorrigible Negro hustler, from the liberal white philanthropist to the hard core white racist. Micheaux created a complex, melodramatic narrative around these types in order to develop a morality tale of pride, prejudice, misanthropy and progressivism that would be revisited by Locke and others (Rhapsodies in Black: Art of the Harlem Renaissance (London/California: Hayward Gallery, Institute of International Visual Arts and University of California Press, 1997). Black-owned magazines and newspapers flourished, freeing African Americans from the constricting influences of mainstream white society. Charles S. Johnson’s Opportunity magazine became the leading voice of black culture, and W. E. B. DuBois’s journal, The Crisis, with Jessie Redmon Fauset as its literary editor, launched the literary careers of such writers as Arna Bontemps, Langston Hughes, and Countee Cullen(The Birth of the Harlem Renaissance: History Timeline — Infoplease. com). Additionally, there were other aspects of Black greatness emerging from oppression. â€Å"†¦Through their artistry, the literature of this period helped to facilitate a transformation from the psychology of the â€Å"Old Negro† (characterized by an implied inferiority of the post-Reconstruction era when black artists often did not control the means of production or editorial prerogatives) to the â€Å"New Negro† (characterized as self-assertive, racially conscious, articulate, and, for the most part, in charge of what they produced). Landmark texts that marked this transformation and encouraged increased exploration of African American experience through literature included The Book of American Negro Poetry (1922), edited by James Weldon Johnson and The New Negro (1925) by Locke. The short-lived literary magazine Fire!! (1926) also had a significant impact on the literary production because it represented the efforts of younger African American writers (such as Hughes and Hurston) to claim their own creativity apart from older artists (such as DuBois and James Weldon Johnson), as well as to establish autonomy from potential white exploiters†¦ (Trudier Harris-Lopez, â€Å"Forward† Harlem Renaissance, Volume I. Janet Witalec, project editor. Farmington Hill, MI: Gale, 2003 Call and Response: The Riverside Anthology of the African American Literary Tradition. Ed. Patricia Liggins Hill. New York: Houghton Mifflin Company, 1998). The Spiritual Coming of Age was solely for African Americans to express thems elves and exert self-determination. To have a sense of race pride. White Literary establishments became fascinated and began to publish their works. African American Literature has impacted American culture in an enormous way. Their writings have inspired many African Americans to continue the legacy in Literature. At this same time, the Jamaican-born Marcus Garvey began his promotion of the â€Å"Back to Africa movement. † Garvey founded the Universal Negro Improvement Association and African Communities League (UNIA-ACL), which advocated the reuniting of all people of African ancestry into one community with one absolute government. The movement not only encouraged African-Americans to come together, but to also feel pride in their heritage and race (http://www. biography. com/blackhistory/harlem-renaissance. sp). The Harlem Renaissance was a defining movement within the African American culture. 1929 marked the beginning of the end of the Harlem Renaissance. Due to the economic declines, many prominent writers departed Harlem. Although there was not much time during this period, this era influenced many writers to come. Its great moments in History like this that inspire and influence generations to come. The Harlem riot of 1935 was the final event. The progression of African Americans has come a long way. From slavery to Harlem, and beyond; African Americans have made their mark in History. Shortly after the Renaissance, many came into their own creativity. With the emergences of people like Dr. Martin Luther King Jr. , Malcolm X, Sojourner Truth, the African American culture has gone far beyond what was imagined centuries ago. Many great musicians from jazz era contributed to the mass music frenzy we see today. With great musicians like Duke Ellington and Louis Armstrong, we now have Kenny G, and Boney James. With Poets such as Langston Hughes, and Zora Neale Hurston, we have Maya Angelou, and Gwendolyn Brooks. The Harlem Renaissance has contributed too many great works among African Americans. The African American culture has blossomed in many ways. In the beginning of the 1970’s, African American literature went mainstream, and has continued to do well; moreover, books by Black authors continue today to receive best-selling awards. This also marks the era where African American writings were considered as a legitimate genre of American Literature. The Civil Rights movement made a powerful impression on black voices in the 1960s. Baldwin, whose fiction and essays dealt not only with race but sexuality, family, the ex-pat life, and his childhood in the Church, returned from many years in Paris to participate in the burgeoning movement. Many of Baldwin’s most significant works were written in the 60s, including Another Country and The Fire Next Time (â€Å"African American Literature: History, Crossword, Quizzes, Harlem Renaissance, Civil Rights. † Infoplease.  © 2000–2007 Pearson Education, publishing as Infoplease. 26 Apr. 2011http://www. infoplease. com/spot/bhmlit1. html). How to cite The Negro Movement, Papers

Tuesday, May 5, 2020

The Principles - Potential Issues - and Risks of Revaluation of PP&E Ass

Questions: a). Should KGC Ltd. revalue its major PPE assets from historic cost to fair-market value? (Discuss the principles, potential issues, and risks). b) The PPE is estimated to have a replacement value of $20.5 billion AUD and a value in use of $12.0 billion AUD under current expected operations (i.e. seven years) but rises to $30 billion AUD if the contract is renewed for 10 years in addition to the current seven years and new viable ore bodies are found. What is the True and Fair value of the PPE? (Explain). c) Discuss the merits and risks of KGC Ltd. including a Triple Bottom Line aspect to its reporting approach. d) Discuss the nature of Legitimacy and the importance of KGC Ltd. maintaining legitimacy in the eyes of the traditional land-owners, the government of PNG, and the people of Australia. e) Is the Legitimacy of KGC Ltd. at risk and what consequences may KGC Ltd. suffer if it loses Legitimacy. f) Discuss how KGC Ltd. can restore its legitimacy (include a section on the two types of stakeholder theory in this discussion). g) List the various ways that KGC Ltd. could record the cost of the harm associated with the sludge spill in its GPFS, discuss the pros-and-cons of each method, choose a method and defend your choice. Answers: Part A The principles, potential issues, and risks of revaluation of PPE assets Yes, KGC ltd. should revalue the major PPE assets from historical cost to fair market value. Principle: According to International Accounting Standards 16, PPE assets must be recorded at fair value until and unless the exchange transaction lacks any commercial substance or the fair value of the assets are non-measurable. The revaluation model suggests that the value of PPE should be measured at fair value by deducting the accumulated depreciation and impairment losses from the fair value. Revaluation shall be made to ensure that the materiality is not differed therefore it should be determined by recording fair value instead of historical cost (Europa, 2009). Potential Issues: Recording the assets at fair value signifies the exit value of the assets. Assets recorded on historical cost do not represent the market-based approach rather it is based on entity-based approach. Fair value solves the issue of compatibility between the future cash inflows and cash outflows. The assets recorded on the basis of historical cost lacks the clarity when compared with market assumptions. If the PPE is not recorded on the fair market value then there is likely very less chance of selling those assets (Trinavis-crowehorwath, 2011). Risks: The risk of revaluing the PPE assets are that it would change the entire value at market price rather than recorded realizable value. The amount of depreciation will be altered and the increased depreciation would reduce the profit of the company. However, these risks will incur future benefits in the form of tax reduction and selling of the PPE assets at market value (Don Herrmann, 2006). Part B Estimation of True and fair value of PPE The true and fair value represents the correct statement of the financial position. Within the current expected years of operation, the replacement value has been estimated at $20.5 billion while the amount specified for use is $12 billion AUD. It is expected to increase at $30 billion AUD if the contract related to the PPE assets are renewed for 10 years. In this case, the fair and true value of PPE assets is $20.5 billion. According to IFRS 13, the fair value of PPE assets states the determination of timing when the assets were recognized and further determining the carrying amount. The depreciation charges associated with the assets along with impairment loss is also required to be recognized. The fair value in this case will be determined as the replacement value. As the fair value of the specific PPE assets is missing therefore we will consider replacement value as the true and fair value. Fair value can help the company in exchanging the assets, settle liabilities and willing parties to involve in the transaction. Another recoverable value of the assets is considered by estimating the supply of products and services (Fair value) less the value of use and cost to sell. In this case, the actual fair value is missing therefore it is assumed that replacement value is the Fair and true value. The recoverable amount in such case will be $8.5 billion AUD. Henceforth the information regarding the validity and affirmation of contract is missing therefore the exact fair value can be estimated in this case (GASAB, 2010). Part C Merits and risks of KGC Ltd. including a Triple Bottom Line Triple Bottom Approach accounting has been adopted by profit and non-profit organization. The sustainability framework approach is used by the KCG L to evaluate the performance. TBL approach concentrates on comprehensive investment outcomes. The profits, shareholders value and the return on investments can be calculated on the comprehensive way. The TBL approach is used in KCG Ltd to incorporate the three major dimensions of performance including financial, environmental and social aspects (theconservation, 2014). Following are the merits of using Triple Bottom Line approach: It reduces the risk profile Ensures identification of the cost savings technique and reduces the opportunity cost It provides improved financial and organizational information to the shareholders Aligning the needs of management focus and stakeholders requirement It increases the organization scope towards innovation. It helps in ascertaining the potential way of securing the social licensing It acts as a sound base for stakeholders decision making (Economist, 2016). Risks: Following risks are reported for the application of Triple Bottom Line: The application of TBL approaches is based on ethnocentrism It requires the restructuring and demolition of the corporate environment TBL approach requires an extensive readjustment of the organizational policies therefore uncertain risk might emerge as possible threats (Pondent, 2016). It is corporate oriented technique therefore it is treated as a reductive method as it diverts the business attention from concentrating on its core competencies. Aligning both social and environmental aspects are difficult in real organizational settings (Vivian, 2012) Part D Nature of Legitimacy and maintenance for traditional land-owners, the government of PNG, and the people of Australia The nature of legitimacy exists when the business possess clear and defined chain of management. KGC Ltd possesses clearly defined organizational structure. The person holding an authority possesses the right to perform any assigned task. The legitimacy in accordance to the people of Australia and government of PGC is performed by the KGC Ltd to serve the environmental and social accounting area. The power of legitimacy helps an organization to accomplish the social constructive system by serving the beliefs, values and norms of the society. It directly impacts the financial performance growth and enhancement of the company (UVA, 2006). The KGC Ltd has paid 6 billion amounts to the PNG government in the form of tax whereas $4 million was paid in the form of royalty to the traditional land owners. Also, the company is licensed by the PNG that certifies the firm to operate legally. The company serves the social aspects by employing 3400 employees in its processing plant, offices and PNG mines. The environmental and social liabilities have been fulfilled by KGC Ltd in terms of infrastructural development. The operating and development activities include building of grade schools, hospitals, water processing plants and health centers. Part E Legitimacy of KGC Ltd. at risk and its consequences Yes, the legitimacy of the KGC Ltd. is at risk. For instance, the Christian-animist residents in the New Guinea were agitating for ensuring independence from the Indonesia. There was a possibility of conflicts and military actions due to the association of war tribes and PNG tribes. The irregularities of company in respect of the environment protection have been complained by the people of Australia. Approximately 5 million liters of the oil waste were dumped into the river which was the source of drinking water for the villagers. The complaints went strident and loud when the company defended the misconduct. It was stated that sludge can be flushed quickly out to sea where it would get diluted soon. There are several consequences of the unfair practices conducted by the company. These unfair practices of the KGC Ltd can be negative for the company in the form of deteriorating goodwill. The government might take serious action against the company as the waste generation and dumping i n the sea can significantly affect the natives and adversely affect their health. Also, the company has to bare cost of remediating the sludge spills which is estimated between $6 billion to $ 60 billion. Therefore, the company can incur a loss in terms of expenses and public image. Part F Restoring legitimacy by applying two stakeholders theory The maintenance of legitimacy is very essential in the eyes of the government. To ensure the positivity on the part of government KGC Ltd should try to restore the legitimacy by carrying out best practices to serve the environment (Johnson, 2016). The company should try to serve the interest of the stakeholders and try to retain governmental support to enhance its operation more efficiently and effectively. The company should try to restore its legitimacy by renewing the political strategy. The company should follow the traditional belief, norms and value rational faith followed by the society. The legality must be followed by determining the voluntary agreements on the part of interest party (Tilling, 2004). The discursive legitimacy strategies must be followed by the KGC Ltd. The organization can be treated legitimated only when it perseverance towards the people of Australia and the government is unbiased. It encompasses the psychology, philosophy and sociology of the institutions and actors. By launching the development and reconstruction vision for the stakeholders can allow the company to revive its legitimacy. Restoring the legitimacy is intended to ensure long-term sustainability towards the environment and society. Before taking any action the company should ensure that availability of alternative course of action. It is significant for the organization to identify the difference between actionable legitimacy and institutional legitimacy (Dugan, 2004). The values and morals between the business ethics and organizational management must be maintained by application of Stakeholders theory. The two types of stakeholder's theory are Instrumental and Descriptive theory. The descriptive theory suggests the way how managers deal with the stakeholders to represent their interests (Fontaine et al., 2006). The constellation of interest can be fulfilled by the organization in either cooperative or competitive manner. This theory can be implied by the KGC Ltd in order to deal the divergent stakeholder's interest. The instrumental approach can be utilized for restoring the legitimacy by aligning the corporate governance goals with the stakeholder's management practices(Egels-Zandn Sandberg, 2009). Part G Recording the cost of the harm associated with the sludge spill in its GPFS The cost of harm associated with the sludge spills can be recorded by the KGC ltd in the form of following costs: Remediating cost Clean up cost Offsetting work Fines Expenses These expenses can be met out of reserves and other sources of external borrowings. The harm of processing and mining should be covered by the KGC Ltd. If the sludge spills are not removed then it would result in shutdown of the mining process that would cause loss to PNG and the entire region. The company can treat this cost of harm as either abnormal loss or nonrecurring items. Abnormal loss: it is the loss that is not expected by the business in its operating course of action. The loss that is realized over the normal loss is treated as the abnormal loss in the cost accounting. An abnormal loss is treated in the books of accounts to identify the net output results by deducting the abnormal loss from gross input (Basiccollegeaccounting, 2009). Pros It is a controllable loss and can be recovered if corrective measures are adopted. On the basis of abnormal loss the company can charge the profit and loss incurred in the specific accounting period. Cons It shows the inefficiency of the company to access the bad working condition, environment issues and highlights the carelessness of the company. It is treated as unanticipated loss that can shake the budget of company Non-recurring items: The item that appears on the financial statement and it is unlikely to happen again. It is onetime expense and records the expenses which are generally not encountered in the business course of action. The cost of harm can be treated as the nonrecurring item that would incur lump sum expenses for one time. These expenses are likely to be ignored in the future course of action (Fuhrmann, 2016). Pros Unlike extraordinary items, the nonrecurring items are recognized under IFRS. Nonrecurring items are easy to be recognized and separated to ensure the efficiency of financial statements. Cons It shows the inability of management to ignore the transactions recorded earlier in the form of non-recurring items. It allocates lump sum expenses and amount at specific time. It can put company at risk to meet the expenses occurred due to unusual transaction The selection of appropriate method is depended on the two factors including the management expectation related to loss and the cause of loss suffered by the organization. However, in this case the KGC Ltd should record the cost of harm of sludge spill in its GPFS as an abnormal loss as these expenses have been occurred due to negligence and carelessness questioning the legitimacy of the company towards the organization and environment. References Basiccollegeaccounting, 2009. Accounting Treatment for Normal Loss And Abnormal Loss In Consignment. Don Herrmann, S.M.S..W.B.T.c., 2006. The quality of fair value measures for property plant, and equipment. Accounting Forum, 30, pp.43-59. Dugan, M.A., 2004. Defining "Legitimacy". Economist, 2016. Triple bottom line. Egels-Zandn, N. Sandberg, J., 2009. Distinctions in Descriptive and Instrumental Stakeholder Theory:A Challenge for Empirical Research. Business Ethics: A European Review, 19(1), pp. 35-49. Europa, 2009. International Accounting Standard 16 Property, Plant and Equipment. 16 Septemeber. p.13. Fontaine, C., Haarman, A. Schmid, S., 2006. Stakeholder Theory of the MNC. p.36. Fuhrmann, R.C., 2016. Financial Statement: Extraordinary Vs. Nonrecurring Items. GASAB, 2010. Property, Plant and Equipment. Indian Government Financial Reporting Standard (IGFRS), p.22. Johnson, J., 2016. 5 Types of Power in Businesses. Pondent, C.S., 2016. Disadvantages of Triple Bottom Line Reporting. theconservation, 2014. Explainer: what is the triple bottom line? Tilling, M.V., 2004. Refinements to Legitimacy Theory in Social and Environmental Accounting. p.11. [Accessed 2016].