Renaissance and Reformation Essay -- Changes, Influence, Origin

The European Renaissance was characterized by advancements and new developments in literature, science, religion, politics, and most importantly artwork. It proved to be a reappearance of learning based on classical sources. The renaissance was not as widespread as one would think. Essentially it is described as a time of cultural movements rather than technological advancements. Its time period ranged roughly from the 14th century to the 17th century. There is debate as to how far the movement stretched and exactly how many areas were influenced by the renaissance era. The European Renaissance is thought to have originated in Florence, Italy in the 14th century, and occurred after the Black Death. The Black Death was a disease which affected all of Europe. It caused about a third of the population of Europe to die out. The survivors were devastated at the loss of their loved ones, but they found that they were better off financially and socially, making their way up the social ladder. Specifically in Italy, there was greater social mobility. The upward mobility of individuals around this time allowed them to patronize early artists and rebuild libraries. Some areas were seeing more competitively between workers and their bosses, but the 'new' wealth was spent to display items to reinforce prestige. This allowed citizens to patronise the Renaissance artists. Merchants in regions like Italy saw increases in their wealth from trading, using the same trade routes in which the Black Death was spread. The trade income was further developing by Renaissance developments in commerce, causing the merchants to have more wealth to patronise with. The Renaissance brought on new conceptions of life and ... ...such as Italy and Germany. Italy and Germany's economy went bankrupt, causing an increase of famine and disease to spread throughout the populace. The main effect the Reformation had on Europe was the religious thinkings. The Churches now taught the importance of the individual conscience and gained new purity and strength through counter Reformation. The counter Reformation was created by the Catholic Churches as an answer to the Protestant Reformation. Both the Renaissance and the Reformation helped shape all countries today. The Renaissance helped people focus more about the individual person rather than the social class in which they were born. The Reformation was a building block to more forms of Christianity that are still taught today, such as Protestantism. If we had not had either of them, our religion, politic, and even our writing would be different.

Economic Course Work Essay

The market demand (red line) for oil is highly inelastic, and a large change in price only has a small impact on demand for oil. In essence, you will not drive twice as fast because oil is cheaper, nor can you easily switch from using one type of fuel to another(petrol to diesel) just because its price has changed to be cheaper. The supply of oil is relatively inelastic. This is because investment in the production facilities leads to an increase in supply, but the cost of pumping out the oil is relatively the same (Hillier, 2005). It will cost an oil production facility roughly the same amount to produce at half or full capacity. Maintenance and repairs will only be done if the price of oil is high. In essence, we can say that a small change in the demand and supply curve causes a larger change in the clearing price of oil in Russia. As the cost if oil goes up, the Bus fares will increase as transporters will try to recover the remaining cost from the passenger, thus reducing the demand for buses. This in turn will lead to passengers demanding more of the train services which are not affected by the rise in oil price, thus the shift in the demand curve to the right. Indicating a demand for trains. During world the demand for oil was low, thus the downward shift of the demand curve from D1 to D2. This was a result of consumers looking for alternative sources of fuel energy, since the price for oil was high. Also during the recess, due to the recession, the price of oil went up, thus the upward shift of the supply curve from S1 to S2. The high prices led to more production, thus more supply to capitalize on the prevailing high market prices of oil. iv) Use a demand and supply diagram to show what happens to oil prices when the UK adopts energy efficiency measures and invests in wind and solar energy There will be less demand for oil from the British as they will look for alternative means for energy, thus the downward shift of the demand curve from D1 to D2. Thus further development in alternative energy resources means that there is spread of technology thus the equivalent point shifts to the left. v) What happens to oil prices if high economic growth continues in India and China. India and china are following the traditional economic growth path which requires huge oil production and use. Since the national resources are limited, large scale of imports are necessary. Larger demands, higher price, higher expectation to prices attracts speculators to buy more of the oil, which creates the bubble, higher prices of oil due to increased demand (Copeland et al, 2005). 2. Use demand and supply analysis consider what factors on the demand side and which on the supply side will influence oil prices over the next few years? (50 marks) Prospects in the world economy. The world populations is increasing daily, signaling an increase in the demand for oil to meet some of the basic life energy needs . It is estimated that the population of India and China will grow by 8. 4% and 10% respectively. This alone is a big market (demand) for oil (Market Avenue, 2008). Thus this will affect the price of oil, as the demand will increase, thus a rise in the price of oil. Technological development. The world oil supply will improve with new technologies being propagated everyday to ensure more but efficient production and distribution of oil to the markets. This will lead to more efficient and environmentally friendly oil facilities that will increase the supply of oil at a global level (Market Avenue, 2008). As a result, the price of oil will go up in proportion to the investments put in place to do the renovations and maintenances of the oil production facilities. Global economic political situation as with Iran nuclear issue, in as much as Iran has high reserves oil and gas, it is has a nuclear development programme that is looking at using nuclear technology as an alternative to oil and gas. This has prompted political debates impasse, and sanctions as regards the future of energy resources in the world. Reports by Market Avenue (2008) shows that this affects the price of oil in the sense that Iran has the second largest oil reservoir, next to Saudi Arabia, and thus have a greater control over how their international relations plays out with the world super powers and the OPEC to regulate the supply and price of oil. According to Biswajit et al (2007), alternatives to oil, there are increasing alternatives to oil as a source of energy. Many other alternatives like, solar, propane, nuclear energy, bio diesel, hydrogen, battery and ethanol. All these are alternatives to oil that have been proven to work. Even though their use is still small scale compared to oil, they are emerging as good alternatives oil use. This affects the future of oil use globally as they tend to be more environmentally friendly and cheaper than oil. 3. Describe the structure of the world motor car industry (25 marks) The first producer of a petrol engine driven car was Karl Benz, 1885 Mannheim Germany. Over the years many inventions and different models of cars have come. These include brand names such as Toyota, Hyundai, Range Rovers, Mercedes Benz, Nissan just to mention a few. Globally there are many producers of cars. For ease of reference they have been ranked by country. In the top ten we have China, Japan, USA, Germany, South Korea, Brazil, India, Spain, France, and Mexico respectively. The top ten brand names include Toyota, General Motors, Volkswagen, Ford, Hyundai, PSA, Honda, Nissan, Fiat and Suzuki. This is relation to the number if volumes of vehicles the produced in 2009. Depending on the regions, various cars manufacturers have a specific share in the markets in which they operate in. Example is that Thailand is today, already the second largest globally, pick-up truck market after the U. S. and is ASEAN’s largest automotive market and assembler. In her report, Global Automobile Industry: Changing with Times , Chithra Gopal R. S. , M. Sc (Agri), says that in Thailand today all leading Japanese car producers as well as BMW, Mercedes Benz, General Motors, Ford, Volvo and Peugeot assemble cars along with their legions of suppliers. The country has become the main production base for auto- mobile exports in South East Asia. One of the biggest foreign producers located in Thailand is Toyota with a production totaling more than 300,000 vehicles a year and the number is having an upward trend. General Motors (GM), although a much smaller player in Thailand than Toyota, is also increasing production. The other big auto companies located in Thailand are Isuzu, Mitsubishi, Nissan, Auto Alliance, Honda etc. In recent years, BMW and Daimler Chrysler (Mercedes-Benz) have also increased their investments to gain complete control on local manufacturing and marketing operations, indicating that the auto mobile industry in Thailand has the structure of perfect competition (Biswajit et al. 2007). References Biswajit, N. , Saikat, B. &Rittwik, C. (2007). Asia-Pacific Research and Training Network on Trade Working Paper Series, No. 37, July 2007. Retrieved on 21 August, 2010. From: http://www. unescap. org/tid/artnet/pub/wp3707. pdf. Case, K. & Fair, R. (1999). Principles of Economics, 5th Ed. New York: Prentice-Hall. Copeland, A. , Wendy, D. & Hall, G. (2005). Prices, Production and Inventories, Over The Automotive Model Year, Working Paper 11257, NBER Hillier, B. (2005). The Macroeconomic Debate. Oxford: Blackwell, pp. 7-85. Market Avenue (2008). Major Factors Affecting World Oil Market in 2008. Retrieved on 21 August, 2010. From: (http://www. marketavenue. cn/upload/articles/ARTICLES_1422. htm Parkin, M. & Bade, R. (1982). Modern Macroeconomics. Indiana University press Philip, A & Fischer, S. 1980. Rational Expectations and Economic Policy. Chicago: University of Chicago Press http://www. tradingtoday. com/26-oil-supply-demand, http://www. eco-action. org/dt/oilfut. html).

Labor, Stocks and Bonds

According to the basic law of demand and supply, increases in the real wage rate or the price of labor must decrease the quantity of labor demanded, as employers find it increasingly expensive to hire more people.   Would increases in the real wage rate, therefore, decrease the productivity of the firm, that is, the number of the outputs that it produces? – Not necessarily. This is where the assumption of diminishing marginal product of labor steps in to save the firm from significantly reducing its supply of outputs.   Marginal product of labor refers to the â€Å"increase in output produced from a given capital stock when an additional worker is employed (â€Å"Marginal Product of Labor†).†Ã‚   On the other hand, diminishing marginal product of labor means that â€Å"each additional labor hour results in less and less extra output (â€Å"Costs of Production†).   This assumption is explained by the popular saying, ‘Too many cooks spoil the broth.’   Thus, the firm does not need to increase its demand for labor beyond a certain number in any case. Stocks and Bonds The dissimilarity between stocks and bonds is explained by the difference between â€Å"owning and lending (â€Å"The Difference Between a Stock and a Bond†).†Ã‚   The purchaser of a stock is a part owner of the company whose stock he has bought.   He gets to vote on the way the company should be run, and enjoy dividends in addition to â€Å"capital appreciation† as a participator in its success (â€Å"The Difference Between a Stock and a Bond†). Of course, he gets to participate in the failures of the company to boot, through lower dividends and stock prices.   The purchaser of a bond, on the contrary, will be paid before the stockholders in the case of company failure.   He has lent money to the company after all.   The company, in turn, promises to repay its loan at a fixed time, with interest.   Even so, the purchaser of the bond does not enjoy extra interest when the company performs exceptionally well (â€Å"The Difference Between a Stock and a Bond†). Works Cited â€Å"Costs of Production.† Ohio State University. 8 Oct. 2007. . â€Å"Marginal Product of Labor.† London South East. 8 Oct. 2007. . â€Å"The Difference Between a Stock and a Bond.† Cash +, Issue 1 (Fall 2006). 8 Oct. 2007. .

John Lewis Christmas Marketing Campaign Essay

This year’s advert, entitled â€Å"The Journey†, hopes to do as well if not better than its predecessor. The ? 6 million campaign created by Adam+EveDDB tells the story of a snowman who travels across rivers, mountains, roads and cities to get the perfect gift for the snowwoman who stands with him in the garden. * The advert could’ve been seen on channel 4 just before Christmas and then it was easily accessible on internet(facebook, youtube, etc). John Lewis also was running a snowman hunt, with six snowmen figures hidden around stores. If customers find them all they could win a price, including a  £10,000 holiday, Sony laptop, spa days and gift hampers. John Lewis has also run social media activity including competitions to win a holiday to New Zealand, where the ad was filmed, and for a family to get their garden ‘snowed up’ for Christmas day. John Lewis hopes to make a â€Å"confident statement† in its Christmas marketing this year through its TV, press, outdoor and in-store activity as well as the Annual, a glossy print title that brings together its Editions magazine and Christmas catalogue into one publication for the first time. The Twitter campaign uses the hashtag #snowmanjourney to track its experiential campaign that is photographing the snowman in different towns around the country. John Lewis has also press released many articles regarding their Christmas advert, in store sales, and competitions. John Lewis P&R department has also write a book that tells the story of the snowman and his journey which is also part of the high profile Christmas campaign, short afterwards the book became one of the most selling books for children. John Lewis has attributed a lift in its crafts offering to its Christmas ad campaign. Items on sale include a ‘Knit Your Own Snowman’. * The campaign was created to persuade more and more customers to come in the store and buy gifts for their loved ones during Christmas time. John Lewis’s advert also delivered strong Christmas, and warm feeling to the viewers so they are also creating the brand. They want to tell and insert John Lewis’s brand in many people’s life. Craig Inglis the Marketing Director at John Lewis said â€Å"the campaigns are not just an investment in making people feel Christmassy, they have commercial effectiveness at eart. † Adverts starring the character proved a big hit – with more than three million views on YouTube. * The target market were people who had families, people who lad loved ones, relatives, and people who had someone one special in their lives, because Christmas it is all about spending time with the loved ones, giving them gifts and have a great time. Also they targeted at other organ ization’s customers for example Marks&Spencer, Boots, etc. Also people who wanted to their bedrooms as they had big sales in their home department. Sales figures Sales for the retailer are up 7. 6% year on year for the week ending 17 November with a strong performance in electrical and home technology driving the growth with a 22. 2% jump in sales. In the five weeks over Christmas John Lewis recorded a 44. 3 per cent rise in its ‘Click and Collect’ service, which allows shoppers to buy products online and then collect them from one of the group’s Waitrose supermarkets, compared with figures from 2011. Total web sales reached ? 684. 8 million in the five weeks to 29 December. Electrical and home technology sales were up by 30. 9 per cent on 2011 with tablets being the retailer’s star festive performer. Fashion and beauty sales rose 10. 4 per cent with home products increasing by 6. 2 per cent. In the last full week before Christmas John Lewis posted sales of ? 157. 8 million, a rise of 26. 5 per cent from last year. A record ? 31. 7 million was then taken on 27 December, the start of the retailer’s clearance sale. Conclusion Overall I think the Christmas campaign has been extremely successful. The reason why I am saying this is because comparing the sales figure from last year and this year they achieved a record this year by stepping over the ? 150 million revenue. Also looking at the promotional mix they have done pretty well again, as we have new products which are the snowman book and the snowman toys, sales offers in their stores at certain products. Their PR department did very well as they came with articles just before launching the advert letting people know when and where will they be able to see the advert. The personal selling was great as well as when going to the check out they would ask the customers if they found everything they need and also if they would be interested in buying the snowman book, etc. Direct marketing was great as well as there was a twitter account where you could fallow the snowman’s adventure, and competitions on Facebook and in store. An improvement I would say it would be that maybe the customers where interested in more sales promotions and more direct marketing would convince customers to buy more products and come to John Lewis more often. Although the Advert did cost a huge amount of money that is nothing compared to the ? 157. 8 million revenue they made last year. Another reason why I think that the campaign was successful was that the advert they made has been voted as the year’s most favourite TV advert. And finally the last reason why I am sure that the campaign was extremely successful was that none of the directors of John Lewis expected a record breaker sales figure.

The Fashion Channel †Case Study

The Fashion Channel – Case Study Exercise 1: What is expected outcome of each of the targeting scenarios? (complete both the Ad Revenue and Financial calculators to fully understand the financial impact of the scenarios) Exhibit 4: Ad Revenue Calculator TV HH Average Rating Average Viewers (thousands) Average CPM1 Average Revenue/Ad Minute2 Ad Minutes/Week Weeks/Year Ad Revenue/Year Incremental Programming Expense 1 Revenue/Thousand Viewer 2 Calculated by multiplying Average Viewers by Average CPM Current 2007 Base Scenario 1 110,000,000 110,000,000 110,000,000 1. % 1% 1. 2% 1,100 1,100 1,320 $2. 00 $1,80 $1,80 $2,200 $0 $0 2,016 2,016 2,016 52 52 52 $230,630,400 $0 $0 $0 $0 Scenario 2 110,000,000 0. 8% 880 $3,50 $0 2,016 52 $0 $15. 000. 000 Scenario 3 110,000,000 1. 2% 1,320 $2,50 $0 2,016 52 $0 $20. 000. 000 Exhibit 5: TFC Estimated Financials for 2006 and 2007 Revenue Ad Sales Affiliate Fees Total Revenue Expenses Cost of Operations Cost of Programming Ad Sales Commissions Marketing and Advertising SGA Total Expense Net Income Margin 2006 Actual 2007 Base Scenario 1 Scenario 2Scenario 3 Assumptions Insert scenario results from revenue calculator Grows 2% per year with population $230,630,400 $207,567,360 $249,080,832 $323,882,560 $345,945,600 $80,000,000 $310,630,400 $81,600,000 $81,600,000 $81,600,000 $81,600,000 $81,600,000 $81,600,000 $81,600,000 $81,600,000 $70. 000. 000 $72,100,000 $55. 000. 000 $55,000,000 $72,100,000 $55,000,000 $7,472,425 $60,000,000 $41,200,000 $72,100,000 $70,000,000 $9,686,477 $60,000,000 $41,200,000 $72,100,000 $75,000,000 $10,378,368 $60,000,000 $41,200,000Grows 3% per year with inflation Add incrementa l programming expense 3% of ad sales revenue Reflects increased spending of $15M Growing with inflation 3% Spradsheet calcuates automatically Spradsheet calcuates automatically Spradsheet calcuates automatically $6,918,912 $45,000,000 $40,000,000 $6,227,021 $60,000,000 $41,200,000 $216,918,912 $113,300,000 $113,300,000 $11 3,300,000 $113,300,000 $93,711,488 30% $54,640,339 19% $94,908,407 $151,496,083 $168,867,232 29% 37% 39% Exercise 2: Analyze the segmentation options and discuss pros and cons of each.Broad-Based Marketing Pros: When we compare the Net Income of the base 2007, the broad-based Marketing segment will deliver almost $40,000,000 more. Also by the investing in a major marketing and advertising campaign the Average Rating will increase from 1% to 1. 2%. Another advantage of this segment is that it does not need any additional costs of programming, like the other two segments. Cons: A disadvantage of this segment is that the competition would continue to penetrate the premium segments and further erode TFC? s pricing ability. In addition to that the average CPM will decrease $0,20 in comparison to the Current CPM.Fashionista Segmentation Pros: An advantage of this segment is that the Net Income in comparison to the Net Income of the Based 2007 will increase by almost $100,000,000. It is al so strong in highly valued 18-34 female demographics. Because of this the CPM will decrease to $3. 50 because of strengthen the value of the audience to the advertiser. It is also strong in highly valued 18-34 female demographics. Cons: To attract and retain the interest of this segment it is necessary to invest in new programming. This would mean they would have $15,000,000 more spending per year on programming.Another disadvantage it is smaller than the other two segments and represents only 15% of households, this can lead to a drop in the viewers of the other clusters. Another disadvantage is that the average Rating will decrease from 1. 0% to 0. 8%. Focus on the â€Å"Fashionistas† segment This segment was strong in the highly valued 18. 34 female demographic New programming are necessary to attract and retain the interest of this segment Spend 15$ million on programming Focus on â€Å"Fashionistas†, Planners and Shoppers and â€Å"Situationalists† Focus on Women aged between 18-24Fashionista plus Planners/Shoppers Segmentation Pros: An advantage of this segment is that the Net Income will increase more than $100,000,000 in comparison to the Net Income of the 2007 Base. Also the CPM will increase to $2,5 because of a dual targeting. In addition to this the average Rating will increase from 1% to 1. 2%. Cons: To ensure that there were selections aimed at both segments; Wheeler needs to spend $20,000,000 more on programming. Because of the determination only on this two segments it can be that the number of the loyal viewers of TCF will decrease.Exercise 3: If you were Dana Wheeler, what would you recommend and why? If I was Dana Wheeler I would recommend TCF that they should adopt Scenario 3. However, Scenario 3 has a few disadvantages. For example the possibility to lose some loyal viewers and furthermore TCF has to spend $20,000,000 more on programming which means investing a lot of money for them. But in my opinion, in Scenario 3, t he benefits exceed the disadvantages. On the one hand through this Scenario the Net Income will increase more than $100,000,000. In addition to that the CPM will increase to $2,5 and the verage Rating will increase from 1% to 1. 2%. On the other hand 50% of all US Television Households consist of Fashionistas and Planners/Shoppers. In these two markets the 18-34 year old female audience represents 50% and 25% of the cluster respectively. TCF should therefore increase the advertising revenue. The Scenario 3 is better than the Scenario 2 because Scenario 2 only focuses on the Fashionistas and doesn? t include Planners/Shoppers which are also important to consider. Target at â€Å"Fashionistas and the Shoppers/Planners Spend 20$ million on programming

What is a Capstone Project in High School?

The Merriam-Webster Dictionary defines a capstone as a â€Å"high point: crowning achievement† which, in many ways, defines a capstone project for high schoolers. Capstone projects require students to use all of the skills they’ve built over the course of their schooling to complete a substantial project that highlights their educational and intellectual experience.    A high school capstone project is a way for students to demonstrate the culmination of skills and knowledge gained through their academic career by completing a long-term, multi-faceted project. Typically performed at the end of a student’s high school career, students commonly choose a topic, profession, or social problem to explore and work with a mentor in that field of interest. The mentor guides the student through the project—sharing their knowledge of the field, teaching new skills, ensuring the student stays on task, and fostering a professional, real-world experience. Over the course of the project, students conduct research, maintain a portfolio detailing the steps taken, and create a final paper, product, or presentation that demonstrates what they’ve learned. Often times, a final presentation is given to a panel of teachers, experts in the field, and community members. One of the primary benefits of a capstone project to a high school student is that it highlights their educational accomplishments. Capstone projects provide students with the opportunity to exhibit their capacity for learning and allow them to show off the critical thinking skills they’ve built. Colleges search for well-rounded students and the multi-faceted nature of a capstone project allows students to display a wide range of skills to prospective schools—writing, research, teamwork, planning, self-sufficiency and public speaking are just a sampling of the many skills used by a student to complete such a rigorous project. Capstone projects are a great way to indicate to potential colleges that a student is prepared for the demands of higher education. Capstone projects also benefit high school students by creating self-confidence and building a sense of preparedness for college. A student who has successfully completed a thorough study of a subject and collaborated with an older, experienced mentor is likely to feel ready to take the next step academically. Capstone projects can also add a sense of purpose to a time where interest in education often wanes—consider it a cure for senioritis.    Lastly, capstone projects let students immerse themselves in a field of interest. For some students, it solidifies their interest in a field and clarifies a degree path; others may learn through their capstone project that the field they chose isn’t as interesting as they thought. Either way, it helps create a sense of certainty before taking expensive college courses. Our Early Advising Program helps students in 9th and 10th grade discover their passions and build strong academic and extracurricular profiles to succeed in high school. Though there are numerous benefits to undertaking a capstone project, the question remains: should your child complete one? The simple answer is yes. Completing a capstone project can be a feather in the cap of any prospective college student, so long as the project doesn’t interfere with any of the student’s other activities or interests that may be attractive to colleges and universities. Colleges are always searching for students who maintain a high grade point average (GPA) while challenging themselves academically. The long-term, intense study of a subject will certainly make a student’s academic prowess evident to prospective schools, but this is only valuable if it doesn’t interfere with their studies and negatively affect their GPA. Students challenging themselves with a capstone project should be careful not to undertake the project at the expense of their other intellectual pursuits. Colleges also seek out well-rounded students and you can make the argument that the focused study of one subject is out of line with what colleges and universities hope to see in a student. It’s true that capstone projects highlight the possession of a diverse skill set in a student, but colleges look for students with a wide range of interests in addition to skills. Students should not take up a capstone project if it means sacrificing extracurricular activities and other interests. On a more personal level, students should ask themselves what they want to accomplish via a capstone project. The best projects are often the ones where the student is most passionate. If a student has a sincere interest in the deeper exploration of a field, it should be encouraged and their excitement and enthusiasm for the field can be felt in their work. If a student is solely tackling a capstone project to wow colleges, there is most likely a better way to impress schools more in line with the student’s interest. Looking to get a better sense of what a capstone project is or looking for an idea to get started on your own capstone project? Here are some examples: Business: Study digital marketing and create a digital marketing plan for a local business to help increase awareness and drive sales. STEM: Learn about video game or app development and conceptualize, design, and build a working game or app. Athletics: Research training and nutrition, build a training plan and diet, and perform in an athletic competition (a triathlon or marathon, for example). Community Service: Learn about the work non-profits do, get first-hand experience volunteering with a local non-profit, and build a plan to create an organization that serves your community. Film: Research what makes an effective public service announcement (PSA) and write, direct, and film a PSA that addresses a concern in your community. A capstone project is just one way that high schoolers can boost their college profile. Our Early Advising Program is aimed at 9th and 10th graders—helping them get a jump start on building a resume that will impress college admissions officers with great grades, stellar standardized test scores, and awesome extracurricular activities. In architecture, a capstone is the final stone placed on a bridge or arch, securing all the other stones in place. In combination with our Early Advising Program, a capstone project is a great way to tie together all of the work a student has done during their high school career to complete an inspiring college profile.

'Leases' and its impact on the financial position and performance of Essay

'Leases' and its impact on the financial position and performance of companies - Essay Example Exposure Draft ED/2013/6 'Leases' and its impact on the financial position and performance of companies Financial accounting Standards Board (FASB) and International Accounting Standards Board (IASB) has revised the Exposure Draft that outlined some proposed changes in the accounting rules for leases. The reason behind such a proposal is just to improve the comparability and quality of financial reporting, by increasing the transparency related to leverage. This signifies the use of assets in the organization in its day to day operations and the exposure to risk by entering into a lease contact. The Exposure Draft has proposed a dual approach through which identification, measurement and presentation of the cash flows and the expenses related to lease can be made. Apart from this, the board has proposed some disclosure that would facilitate the investors and other users of the financial information to understand the uncertainty of cash flow, amount and timing arising from leasing (IFRS Foundation, 2013a). This study focuses on the impact of new revised accounting standards that are fra med for leases, on the financial performance and position of the organization. Delta Airlines is a major airline, which is operating in America. It is headquartered at Atlanta, Georgia. It has an extensive network serving both domestic and international location in almost every continent except Antarctica. The organization along with its subsidiaries is operating with more than 5000 flights everyday and has approximate employee strength of about 80,000. Many of its aircrafts along with some ground facilities are taken on lease (Delta Air Lines, 2013; Delta Air Lines, Inc. 2013a). Thus, following section of the reports deals with how the revised accounting standard is going to affect the company. Lease Contacts by Delta Airlines Operating lease may act as an attractive option for the airlines industry as it increases the flexibility of the fleet, reduces the residual risk related to the aircraft for the aircraft industry and requires lower amount of capital commitment for the airline company. During the year 2012, Delta Air lines have entered into contact with T he Boeing Company and Southwest Airlines, to lease eighty eight B-717-200 aircraft. In the later part of 2012, these aircrafts were delivered. In the first fleet, 16 aircrafts were delivered and thirty six aircrafts will be delivered in 2014 and 2015 respectively. The B-717-200 aircraft that has been leased by the company will have advanced features like new and fully upgraded interiors, total seats of 110 that comprises of 15 Economy Comfort seat and 12 First Class seat, along with in-flight Wi-Fi (Delta Air Lines, Inc. 2013b). Thus, it can be expected to generate more income. Apart from this, most of the ground facilities of Delta are also on lease. Most of the lands and building that are occupied by the organization are on lease. The largest base for aircraft maintenance, principal offices, training facilities, kitchens, cargo and