Why Did The Industrial Revolution Begin - 1535 Words

Why did the Industrial Revolution begin in Britain? One reason is because Britain had relatively high income and GDP per capita. Londoners at the time had one of the highest incomes in the entire world, the income was high way before industrialization. By Britain having a high income created a population with disposable income for the products like clothing produced in factories, and commodity products that supported trade in the 17th and 18th centuries. Second reason is because Britain was relatively well-developed financial sector. The British Financial Sector in the 17th and 18th centuries was one of the most progressive and refined in the world. Britain was already considered a center for trading and finance, and the capital supported†¦show more content†¦Most countries like France and Russia had strong independent governments that did not fall under the power of foreign political control. These countries government could custom to the economic policies to serve their ow n interests. The countries then used the power of the state to advance their industry and catch up with Britain. What were social impacts of the Industrial Revolution? Some of the social impacts were an increase in population of cities, the lack of city planning that was necessary, loss of family stability, expansion of middle class, harsh conditions for laborers, workers progress versus laissez faire attitudes, improved standard of living, creation of new jobs, encouragement of technological progress, and political effects of the Industrial are all social effects of the Industrial Revolution. What were the causes of the New Imperialism of the 19th century, and how did it differ from European expansion in earlier periods? New Imperialism an era of colonial expansion by the European powers, the United States, and Japan around the late 19th and early 20th centuries. This era is pro-faced by a diversion of overseas territorial acquisitions. During this time the states focused on creat ing their empires with brand new technological advances and creations, making their territory bigger. During the era of New Imperialism, the Western powers and Japan erupted most of AfricaShow MoreRelatedWhy Did the Industrial Revolution First Begin in England?806 Words   |  4 PagesWhy was Britain the first country to industrialize? The industrial revolution, which occurred during the hundred years after 1780, was a true european revolution. It was in England that the industrial revolution first took hold. This change, which occurred between 1750 and 1830, happened because conditions were perfect in Britain for the Industrial Revolution. Having used wood for heat instead of coal, Britain was left with large deposits of coal remaining to fuel the new ideas. Any raw suppliesRead MoreWhy did the Industrial Revolution begin in England, and What are the Inventions from this Era?788 Words   |  4 PagesThe Industrial Revolution refers to the greatly increased output of machine-made goods that began in England in the middle 1700s. Before the Industrial Revolution, people made items by hand. Soon machines did the jobs that people didn’t want to do. This was a more efficient way of making goods. During the industrial revolution, Political, economical, and social forces led to a period of upheaval for the French during the eighteenth century. What political, economical, and social forces led to a periodRead MoreIndustrialization : The Industrialization Of America Essay1650 Words   |  7 Pageshowever, that has not always been the case. Before America became the industrial dynamo that is today, there were multiple other countries that it had to compete against such as China, England, Japan, and Germany. While each of these countries pr ospered at some point throughout their technological history, America was able to learn ways to adapt in order to compete against each and every one of them. The Industrial Revolution has contributed to America in a number of ways. It has contributed to theRead MoreEssay about Great Britain and the Industrial Revolution830 Words   |  4 PagesGreat Britain and the Industrial Revolution Why did Great Britain lead the Industrial Revolution? The Industrial Revolution of the 18th century changed Europe forever. At the front of this change was Great Britain, which used some natural advantages and tremendous thinking and innovation to become the leader of the Industrial Revolution. First, Britain had some tremendous natural attributes. It was naturally endowed with many deposits of coal and iron ore, which were used heavily inRead MoreChild Labour. . The Industrial Revolution (1760 To 1840)1134 Words   |  5 Pages The industrial revolution (1760 to 1840) was an exciting time, and while Britain and America were transforming modern society there was an incredibly high demand for labor. Children as young as 4 years old were working underpaid in factories to keep themselves and their poverty struck families alive. I will be exploring why it was that so many children were working in factories during the industrial revolution, and how they compare to the child labourers of today. I will begin my essay byRead MoreWhy Was Britain The First Nation?1479 Words   |  6 Pages Why was Britain the first nation to industrialize? Britain was the first country in the world to industrialize. â€Å"The British Industrial Revolution involved a more rapid growth rate in industrial production from about 1.5 per cent per annum from 1700 to 1780 to one between 2 and 3 per cent in half-century afterwards.† claims Evans which saw life in Britain change forever. However, the main focus of this essay is to consider why Britain was the first country to go through this radicalRead MoreNapoleon Bonaparte910 Words   |  4 PagesNapoleon Bonaparte or should I say the Son of the Revolution, I believe was both a preserver and a destroyer of the French Revolution. In fact, In a sense, Napoleon brought the revolution to an end in 1799, but he was also a child of the revolution (Spielvogel 544, 1). Napoleon had helped the French people and the French government in various ways; nevertheless, Napoleon thought that constantly the people owed him. I think that this is how he acted like a child. Napoleon became commander ofRead MoreIndustrialization Of The Industrial Revolution886 Words   |  4 Pagesaspect of life was changed during this time. The industrial revolution was first used to describe a new economy driven by factories and a rowing workforce. The industrialization of Europe not only changed people’s lives, but it changed the way the entire continent of Europe functioned (Backman, Clifford). Stephen Gardiner said, â€Å"The industrial revolution was another of those extraordinary jumps forward in the story of civilization† (Industrial Revolution Quotes†). England completely transformed duringRead MoreThe Industrial Revolution1090 Words   |  5 PagesShort Term Misery†¦ Long Term Gain There are two major industrializations that have occurred through out history, both which began in England. The Industrial Revolution was from 1750 until 1800. The first and second industrialization were filled with many inventions, new societal ideas, new raw materials, new sources of power, also new ideas and societal implements were made enabling the world and society to evolve. Overall these industrialization was filled with death, neglect, and disease but endedRead MoreThe Effects of the Industrial Revolution on the Family Essay1670 Words   |  7 PagesThe Effects of the Industrial Revolution on the Family In the last part of the eighteenth century, a new revolution was formed and gave birth to a new standard of living. It shaped the world into what people of today are familiar with. This major occurrence of the late eighteenth century is known as the industrial revolution. It first began in Great Britain, which was the biggest empire in Europe at the time. The industrial revolution brought many positive aspects to society but it also brought

George Orwell s Animal Farm - 1593 Words

In George Orwell’s Animal Farm, he writes, â€Å" All animals are equal, but some animals are more equal than others.† Regardless of whether one is born of royalty or poverty, everyone is born human. There is no different from President Obama or Kim Jung Un. Their title and ethnicity may differ from each other, but at the end of the day, they are both still human. No superpower is bestowed upon birth, or at least it is not common knowledge, only a baby is born at birth. One day that baby will grow up and decide to either pursue their dreams or limit itself and its potential due to societal standards. Societal influence has engrossed the masses to the point that people are more susceptible to suppressing their own ideas and thoughts in order to†¦show more content†¦The Magna Carta affirmed the right to trial by jury, and allows the people to voice their opinions based on the facts they are given. Prior to a case, the jury generally does not know anything about t he case; thus causing an unbiased jury. Obviously there will be bias once the case is presented because humanity is adept to establishing its own thoughts and opinions, however, the decision of the case must be made based on the facts rather than the emotions albeit they sometimes coincide and help each other out. Trial by jury makes it possible for us to ponder the difference between justice and injustice, and whether or not the defendant is guilty or not. Consequently, I do not advocate the contention that a trial by jury is past its prime; we as humans deserve the right to be listened to even though others may have conflicting views because eyes can see clearly once they are given the correct lenses. Criminal defense attorney Kirk McAllister noted that the Magna Carta said â€Å"you would not be judged except by lawful judgement of your peers†(McAllister). According to the Magna Carta by taking away the jury, one could not be judged because there are no peers to exercise lawful judgement. If the jury were to be omitted from the justice system and peers could no longer give a lawful judgement, would the defendant be escaping the punishment they are being tried for? Colleen Walsh of Harvard Law School argues that the Magna Carta is â€Å"an affirmation that

Jonathon Swift’s Gulliver’s Travels Essay - 2951 Words

Humankind as the Balance of Rationality and Passion â€Å"A Voyage to the Country of the Houyhnhnms† Jonathon Swift’s Gulliver’s Travels takes place in four parts, each of which describe Gulliver’s adventures with fantastical species of foreign nations. The search for Swift’s meaning has been a controversial one; the novel has been interpreted along a wide spectrum ranging from children’s story to a satire of human nature. The greatest debate lies within the realm of satire, and Part Four of Gulliver’s Travels, â€Å"A Voyage to the Country of the Houyhnhnms,† is just one area in which critics argue for a variety of satirical meanings. Critics traditionally argue for the â€Å"hard† interpretation which posits the strictly rational nature of the†¦show more content†¦(501) There are many instances in which the Houyhnhnms are depicted in a positive light, and one such case is Gulliver’s revelation that â€Å"The Houyhnhnms have no world in their language to express anything that is evil, except what they borrow from the deformities or ill qualities of the Yahoos† (Swift 2413). In addition, Gulliver reflects upon periods where he was in the company of conversing Houyhnhnms as he expresses: Nothing passed but what was useful, expressed in the fewest and most significant words; where (as I have already said) the greatest decency was observed†¦where no person spoke without being pleased himself, and pleasing his companions; where there was no interruption, tediousness, heat, or difference of sentiments. (Swift 2414) A sense of emotional resiliency is also expressed as Gulliver describes the circumstances surrounding the death of a fellow Houyhnhnm. He writes, â€Å"They†¦are buried in the obscurest places that can be found, their friends and relations expression neither joy nor grief at their departure; nor does the dying person discover the least regret that he is leaving the world† (Swift 2413). While these are all characteristics that can be seen in a virtuousShow MoreRelatedThe Downfall And Vice As A Tale Of A Tub And The Battle Of The World Essay2058 Words   |  9 PagesThe prominence of Jonathon Swift and his work is undeniable in the Eighteenth Century. Swift’s emergence into the literary world was spurned on by writing about politics and religion with his strong opinions and wit. Other famous works by Swift include A Tale of a Tub and The Battle of the Books based on the corruptions in religion and learning at the time. Swift’s works in literature were often written to further a cause or reaction. The idea of the antagonising satirist is reiterated in a conversationRead More Comparing Platos Republic and Gullivers Travels Essay838 Words   |  4 PagesPlatos Republic and Gullivers Travels      Ã‚  Ã‚   In The Republic, Plato attempts to define the ideal state as it relates to the tripartite division of the soul. In this division, wisdom, the rational characteristic of the soul, is the most valuable and important. In the ideal state the ruling class would be the guardians, those who maintain rationality and will operate according to wisdom. Each individual should be put to use for which nature intended them, one to one work, and then every manRead More Utopia in Gulliver Travels and Paradise Lost Essay2460 Words   |  10 PagesThe Inconceivable Utopia in Gulliver Travels and Paradise Lost  Ã‚      In Jonathon Swifts Gulliver Travels and in John Miltons Paradise Lost, the reader is presented with two lands representing utopias. For Swift this land is an island inhabited by horse like creatures called Houyhnhnms who rule over man like beasts called Yahoos. For Milton, the Garden of Eden before the Fall of man represents Paradise. In it, Adam and Eve are pure and innocent, untested and faithful to God. The American HeritageRead MoreThe Shock Factor of A Modest Proposal by by Johnathan Swift 789 Words   |  3 Pagesseriously and the blatant sometimes over-the-top sarcasm occasionally used, several parts of it would cause an uproar and quite possibly a revolution if implementation were ever attempted, and there was even a hint that enforcement of it was to occur. Jonathon Swift was born on the 30th of November 1667 in Dublin, Ireland and died on the 19th of October 1745 in the same (Johnathon Swift). He father died before he was born and his mother had a hard time supporting him on her own. She ended up giving himRead MoreWhat Divided Whigs and Tories in the Reigns of William Iii and Queen Anne (1688-1714)?2936 Words   |  12 Pagessacrifice that simply had to be made to ensure future stability through Protestant dominance not just in Britain, but throughout mainland Europe[20]. Tory attitude to William’s wars are perhaps best encapsulated in Tory writer Jonathon Swift’s satirical classic â€Å"Gulliver’s Travels†: â€Å" He wondered to hear me talk of such chargeable and extensive wars; that, certainly we must be a quarrelsome people, or live among very bad neighbours†¦He asked what business we had out of our own islands, unless upon the

Benefits Of Airplanes And Society Essay - 1396 Words

The Benefits of Airplanes to Society As technology has developed throughout the years, many forms of transportation have been invented and thoroughly advanced. The airplane is one of the inventions in transportation. The invention of the airplane is credited to Wilbur and Orville Wright, brothers from Dayton, Ohio. The Wright brothers were the first to successfully fly a sustained, controlled, powered, and manned airplane, which took place on December 17, 1903 (Crouch Jakab, 2003, p.131). Throughout World War I, the demand for airplanes grew; consequently, production and engineering rapidly improved (Crouch, 2003, p. 198). With the development of airplanes, airplanes went from a sport for the wealthy to a functional, efficient aircraft for carrying mail and passengers. Today, airplanes are used throughout the world for business and commercial purposes, as well as in the medical world (Woolford Warner, 2015, pp. 150-255). The invention of the airplane has been a benefit to society. Airplanes are a benefit to society b ecause they have increased businesses opportunities by a significant amount. The first sources of airplane business were through airmail. According to Dick and Patterson (2003), a quote from the first few pilots to send mail on September 9th, 1911 reads, â€Å"We believe this important event will become historical, and its development will lead to a revolution in the present modes of conveying communications between the peoples of the world.† This quoteShow MoreRelatedThe Invention Of The Airplane Essay1437 Words   |  6 Pagestransportation have been invented and thoroughly advanced. The airplane is one of the inventions in transportation. The invention of the airplane is credited to Wilbur and Orville Wright, brothers from Dayton, Ohio. The Wright brothers were the first to successfully fly a sustained, controlled, powered, and manned airplane, which took place on December 17, 1903 (Crouch Jakab, 2003, p.131). Throughout World War I, the demand for airplanes grew; co nsequently, production and engineering rapidly improvedRead MoreThe Airplane Has Changed The Course Of The Western World Forever888 Words   |  4 PagesJoshua Poirrier Mrs. Elliott English III 9 May 2017 The Airplane Effect Orville Wright once said, â€Å"The airplane stays up because it doesn’t have the time to fall.† The ingenuity of the Wright brothers’ airplane design has changed the course of the Western world forever. The invention of the aircraft positively affected American society by providing a quicker way of traveling, having an influence on warfare, and implementing a better economy in the United States. When the aeroplane was assembledRead MoreThe Importance Of Technology1088 Words   |  5 Pagesmillions of lives throughout the world. However, technology can also be used in evil ways such as fighting wars, which results in a massive loss of life. Three of these technologies or ways of modern thinking are the factory machines in the gilded age, airplanes and naval advancements in World War 1 and beyond, and the crazy modern thinking that lead to these machines. One reason that modernity encountered so many pitfalls throughout its existence is that people who have better technology think that theyRead MoreWhy Are Patents Important For Technology?1745 Words   |  7 Pages) Intellectual property Patent and Copyrights what is the difference. Patent and Copyrights for intellectual property are designed to provide lawful protection and allow people to be recognized for they invent or create. It also allows one to benefit financially though their inventions. What is a Copyright? Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture andRead MoreThe Invention Of Airplanes : The United States Of America And Great Britain1748 Words   |  7 PagesFor many people, it is hard to think of the current world without airplanes. This simple fact is what makes them so important to talk about in society. They might be overlooked sometimes, but they have added a lot to history and should not be taken for granted for what they achieve. To focus on a few countries, the United States of America and Great Britain, the invention of airplanes had some of its largest impact on them. Whether that be in terms of travel or warfare, these countries benefitedRead MoreThe Invention Of The Airplane1401 Words   |  6 Pagesrest. The invention of the airplane in 1903 by Wilbur and Orville Wright was only the beginning of something that would change the wo rld forever. The airplane is still used today to travel around the world at a much faster pace than a boat. While it has been used to mainly help people they are also used to hurt people. The army uses planes to drop bombs, shoot down planes and threats on the ground, and to survey an area. While these are just cases of military uses the airplane has also been used to doRead MoreHistory of Airmail1247 Words   |  5 Pagesas a means to deliver mail society has started to progress more efficiently, taking into account that correspondence through rapid means also meant that innovative thinking would be shared effectively. While homing pigeons and balloons were certainly effective means to deliver correspondence, it was not until the invention of the airplane that people realized that they were witnessing one of the most important breakthroughs in the history of communication and of society as a whole. A few peopleRead MoreAganist the Guangzhou-Shenzhen- Hong Kong Express Railway695 Words   |  3 Pagesthat the express rail link will provide huge benefits to the economy and society of Hong Kong. With 100,000 passengers flow projected by the government, XRL is said to bring various benefits to the city. (Hong Kong Government, 2009). The government claims that XRL can further enhance the exchange and cooperation between Mainland and Hong Kong economically and socially. As a result of such closer tie with Mainland, Hong Kong will enjoy an $87 billion benefit from time saved by passengers, more investmentRead MoreAssignment 11688 Words   |  7 Pagesminus the benefit of seeing the movie. 2. Alaa received a four-year scholarship to attend a university that covered tuition and fees, room and board, and books and supplies. As a result a. attending the university for four years is costless for Alaa. b. Alaa has no incentive to work hard while at the university. c. the cost of attending the university is the amount of money Alaa could have earned working for four years. d. the cost of attending the university is the sum of the benefits Alaa wouldRead MoreThe Pros And Disadvantages Of Artificial Intelligence1423 Words   |  6 Pagesis capable of carrying out human actions. Smart computer systems can and do help us al l; however society has always cautioned that making computers too intelligent can be to our disadvantage. Although, those who are against AI argue that it will harm society, because it can cause unemployment and AI becoming smarter than the human race. Artificial intelligence should keep growing, because it benefits us all in many ways in our daily lives and makes our lives a lot easier. Artificial intelligence

Nature Deficit Disorder free essay sample

Transition statement: So now let me tell you where the term â€Å"Nature-Deficit Disorder† came from. II. Body A. Nature-Deficit Disorder is not a medical condition; it is a description of the human costs of alienation from nature. 1. Richard Louv, child advocate and author of â€Å"Last Child in the Woods† created this term to describe the disconnection between children and nature 1. The author says children are spending more time indoors, and when they do go outside, theyre most likely to be on their way to soccer practice or some other structured activity. 2. The result, he says, is that kids are out of touch with fields, streams and woods. 2. Our society (media, schools, etc.) are scaring children to stay indoors. 1. According to a study done by Sandra Hofferth at the University of Maryland, from ’97-’03, there was a decline of 50% of children 9-12 who spent time in outside activities. 2. According to Duke University Child and Well-Being Index, the rates of violent crimes against young people have fallen well below 1975 levels. 3. Technology has taken over our children and demands their attention 1. Television and gaming has become hard to compete with as far as entertainment 2. Studies conducted in association with the Kaiser Family Foundation, found that children ages 8-18 years old spent an average of 6.5 hours a day plugged in electronically! Transition statement: I have told you about the lack of nature in our children’s lives, now I’ll you the benefits of more exposure to nature. B. Could nature therapy be a new option for ADD (Attention Deficit Disorder) treatment or even Autism? 1. Environmental psychologists reported in 2003 that that nature in or around the home, or simply a room with a view of a natural landscape, helped protect the psychological well-being of the children. 2. Adults and children alike, are just happier being exposed to the outdoors 3. The Human-Environment Research Laboratory at the University of Illinois, researchers have discovered that children as young as five showed a significant reduction in the symptoms of Attention-Deficit Disorder when they engaged with nature. 2. Television and junk food are linked to child obesity 1. The CDC found that the amount of TV that children watch directly correlates with measures of their body fat 2. Basically, more exercise†¦outside would help! 3. It makes me think about how nowadays you see children watching TV in the car on a road trip instead of observing the natural beauty right outside their window 3. Children need nature for a healthy development of their senses 1. As stated by Professor Robin Moore of N. Carolina State University, â€Å"Primary experience of nature is being replaced by the secondary, vicarious, often distorted, dual sensory (vision and sound only), one-way experience of television and other electronic media.† 2. Children live through their senses and this interaction with the outdoor world is essential for their healthy development 3. Autism is described as tunneled senses, and feeling of isolation and containment 4. Researchers have found that children with disabilities gain enhanced body image and positive behavior changes through direct interaction with nature. 5. Studies of outdoor education programs geared toward troubled youth — especially those diagnosed with mental-health proble ms — show a clear therapeutic value. Transition statement: Now that I have told you the benefits of outdoor play, I’ll now share with you some ways you can help encourage this with today’s  children. C. People who care about children and the future of the environment need to know about the research that’s been done in regards to this nature-deficit. 1. With a deeper understanding of the importance of nature play to healthy child development, and to their sense of connection to the world, we can create safe zones for nature exploration. a) We can preserve the open space in our cities, and even design and build new kinds of communities, using the principles of green urbanism. b) We can weave nature therapy into our health-care system, and nature experiences into our classrooms. 2. In education, we can build a No Child Left Inside movement. a) Today’s schools offer less and less recess, this needs to change! b) The Coalition â€Å"No Child Left Inside† was formed in 2007 to alert Congress and the public to the need for our schools to devote more resources and attention to environmental education. c) I encourage you to join this movement 3. As a parent and/or teacher, YOU can have the biggest impact on our children today a) Don’t just say â€Å"go outside play†Ã¢â‚¬ ¦yet go out with them show them what they’re missing, teach them! b) My students have three recesses’ a day†¦this is unheard of in most schools. c) Once children experience what nature has to offer they will most likely choose to go outside and â€Å"play† instead of â€Å"play† with electronics Transition statement: Now I will conclude†¦ III. Conclusion A. First I told you how Nature-Deficit Disorder came about, second, I told you the benefits of getting children outdoors, lastly, I told you what YOU can do to make a change. B. I highly encourage you to read the book, Last Child in the Woods, Saving our children from nature-deficit disorder, by national bestselling author, Richard Louv. C. So the next time you hear a child say â€Å"I’m bored† take them outside and climb a tree, build a tree house, go dig in the dirt; anything to get them away from the electrical world.

Financial Statement and Cash Flow Statement of an Organisation

Question: Discuss about the Financial Statements and Cash Flow Statement. Answer: Financial Statements Meaning of Financial Statements It is the companys records relating to financial activities. It is prepared by the management of the company. It is also called as Financial Report. Purpose of Preparing Financial Statments It is prepared to provide the information on the activities carried out by the entity to the financial statements users. Users include Shareholders, managers, creditors, employees, banks or other financial institutions, government departments, investors etc. Features of Financial Statement Financial statements must be: Easy to understand by the readers who have the basic knowledge of business. Reliable that is information provided must be trustworthy and should not provide any fake information. Relevant that is only useful information should be included. Comparable that is its information can be compared with other entitys financial statements information. Verifiable Available on time to the decision makers for taking decisions. In simple words, we can say financial statements should only provide true and fair information about its companys financial activities (IASB, 2017). Parts of Financial Statements Balance Sheet: It is also called as Statement of financial position. It is prepared at the last date of the reporting period. Under Balance sheet, information about organisations assets, liabilities and stockholders equity are disclosed. Income Statement: It is also called as Statement of profit or loss, Statement of comprehensive income, Profit and loss report, statement of revenue and expense etc. It is prepared for the whole accounting period. Information about companys sales/revenues, incomes, expenses, profit/loss etc. for the whole accounting year are disclosed under income statement. In other words, we can it provides information about operation activities of an entity. Statement of changes in Equity: It is also called as statement of retained earnings or statement of equity. It discloses information about changes in companys equity during the reporting period. Cash Flow Statement: It is prepared for the whole accounting period. It provides information on activities relating to cash flow which are operating activities, investing activities and financing activities. Notes to Accounts: It is also considered to be the part of the financial statements which provide detailed information on companys assets, liabilities, stockholders equity, incomes, expenses, revenues etc. It is prepared at the end/ footnotes of financial statements. Uses of Financial Statements Financial statements are useful to many people. These are: Managers and owners of require financial statements so that they can take business and economic decisions effectively and efficiently. Shareholders require financial statements so that they can take investment decisions that is to knowwhether it is beneficial for further investment or not. Employees require financial statements because to know whether it is beneficial for them to remain in the company or not. Creditors require financial statements to know about companys creditworthiness. Banks and other financial institutions require financial statements so that they can know about companys repayment status, creditworthiness status and whether it is beneficial to them to grant loan or debt securities (IASB, 2017). Auditing Implications Financial Statements are required so that it can be audited by the auditing firms or by an independent accountant to provide opinion on its statements whether they represent true and fair view or not. Auditors report is to be reported under companys annual report. Refulatory Standards Financial Statements have to be prepared as per prescribed guidelines such as United States prepare financial statements as per US GAAP (General accepted accounting principles), Australia, Canada etc. prepare financial statements as per IFRS (International Financial Reporting Standard). INclusions in Annual Report Annual report shall contain the overall performance of the company including its future goals and strategies. It also contains the financial statements. How to Create Financial Statements Earlier it was created on hundreds of pages but today it is prepared electronically in PDF or HTML file. Nowadays, XBRL format is mandatory for the submission of its financial statements. References International Accounting Standard Board.(2017).Preparation of Financial Statements. retrieved on 12 April 2017 from https://www.iasplus.com/en/standards/ias/ias1. International Accounting Standard Board.(2017). The framework for the preparation and presentation of financial statements. retrieved on 12 April 2017 fromhttps://www.iasplus.com/en/standards/other/framework.