Gilgamesh Was a Real Historical Figure - Free Essay Example

Sample details Pages: 10 Words: 2955 Downloads: 7 Date added: 2019/07/29 Category History Essay Level High school Tags: Gilgamesh Essay Did you like this example? Scholars have undertaken research to ascertain the argument of whether or not the legend of Gilgamesh is real. The question has become intriguing with some scholars making comparisons between the King that Gilgamesh was and the epic accounts that have been discovered about the legend. The work of Haubold, (2014) notes that most scholars agree that the legendary accounts developed surrounding Gilgamesh have been largely fictionalized. Don’t waste time! Our writers will create an original "Gilgamesh Was a Real Historical Figure" essay for you Create order However, historians are in a position to justify that Gilgamesh existed as a king in his time. Gilgamesh is a significant literary character in most literature works whose origin is Mesopotamia. Works of poetry mention a rival king in the Sumerian Gilgamesh and the work is documented to have been created in the late third millennium BCE. Most of the poetry works dated in the late third millennium BCE have been verified by archeology. However, the history, myths and legend that surround Gilgamesh as a king and his contribution to his society raises enquiries on whether or not he is a real historical figure. Most scholars have explored the composition and meaning of the epic of Gilgamesh. According to Foster, (2014), most scholars who have encountered sources on the life and legend of Gilgamesh, use different approaches. Further, the essay will give a summary of the eleven tablets and provide a justification to support the thesis of the paper. The paper will argue that Gilgamesh was a real historical figure and provide sufficient evidence to support the argument. Gilgamesh was a legendary hero who was considered as such during the time he lived in 2700 BC. He was the fifth ruler of Uruk dynasties in Sumerian city which is the modern-day Iraq (Villiers, 2005). Lugalbanda, his father was king of Uruk while his mother Ninsun ruled as an intelligent cow goddess. In the King list of the Sumerians, he records an era of 126 years. Gilgamesh had a son, Urlugal whom together they rebuilt Ninlil a goddess sanctuary in Tummal, in the sacred city of Nippur (Villiers, 2005). He is the significant character revolving around Epic Gilgamesh which a substantial existing works in the early literature of Mesopotamia. According to Jones, (2011), in the Mesopotamian mythologies, he is recognized as a demigod with extraordinary strength that built Uruk city walls to defend the Sumerians from threats and external conflicts. Gilgamesh emphasis as a historical figure is further justified as he fought against Sargon of Akkadian’s military in a conflict that lasted for ages destroying the walls of Uruk (Jones, 2011). The Sumerians recognize him for travelling to meet Utnapishtim the sage that overcame the Great Deluge. Interestingly Gilgamesh is described as a one third of a human being and two thirds of a god (Villiers, 2005). The presence and significance of Gilgamesh as a historically significant figure is evident in the multiple historical accounts that make a direct or implied refence to the king or his reign. In the Epic of Gilgamesh, Gilgamesh is illustrated as a young, athletic, handsome king of the Uruk city. In Mesopotamia, the tales of Gilgamesh are exploited in narratives in five poems existing among the Sumerians (Jarman, 2014). Most Sumerian texts have identified Gilgamesh by the name Bilgrames. Some of the epic fragments found in Tell Haddad demonstrate Gilgamesh burial. Uruk people diverted river Euphrates with the objective to bury the king under the river bed (Villiers, 2005). The evidence of existence of Gilgamesh was recorded on twelve clay tablets in cuneiform that are dated between 1000 and 1300B.C. (Foster, 2014). The Epic of Gilgamesh describes the adventures of Enkidu and Gilgamesh who is reported to have killed and conquered Humbaba, the monster set over by the gods in Forest of Cedar. Gilgamesh is recognized as a historical king among the people of Uruk and an epic hero who is featured in archeological inscriptions and contemporary letters (Haubold, 2014). The Epic of Gilgamesh illustrates numerous themes that are significant in understanding the culture of Mesopotamia and the heredity of kings (Caputo, 2016). The role of the king, immortality, civilization, enmity and the relation between gods and human are themes that have been exemplified in the Mesopotamian mythology (Ilnitzki, n.d.). In the poems Gilgamesh faced various challenges that have shaped the culture of Mesopotamia. The manifestation of numerous events provides proof of the existence of kings and gods in the past that defined human civilization (Gadotti, 2005). The success of Gilgamesh has led him to be featured in narratives that have developed to myths and legends that are similar to historical heroes such as Charlemagne, Arthur and Sigurd in Western Civilization (Putra, 2013). Moreover, Gilgamesh attracted accomplishments and names of various kings that existed during the period. The Epic of Gilgamesh The Epic of Gilgamesh since reconstruction and rediscovery has created controversy among historians. The narrative is contrary to the Bible exemplifying 4,000 years in the society of Mesopotamia (Heidel, n.d.) The tale manifests religious and cultural heritage of the people of Mesopotamia in world literature. Throughout the religion and culture of Mesopotamia, that is reflected in the contemporary society. The existence of council of elders and firm male leader as well as the aspect of gender division in culture and religions is essential in contemporary societies (Haubold, 2014). Mesopotamia was religiously a polytheist society that is linked to natural phenomenon and the existence of gods is personified heavily (Ilnitzki, n.d.). In his life Gilgamesh encounters gods, creatures and kings who are vital enhancing human feelings, friendships, fear of death and relationships (Villiers, 2005). The people of Uruk believe and pray to the god of Anu to liberate them from the harsh rule of Gilgamesh. The gesture demonstrates the existence of religion among the people of Mesopotamia (Haubold, 2014). According to Jarman, (2014), in the events of Gilgamesh, death has been portrayed as a symbol relative to the epic and culture. The culture of Mesopotamia death exemplifies strange images of a dangerous and dark underworld where deceased souls are trapped underground (Heidel, n.d.). In Epic, death occurs as Enkidu and Gilgamesh are killing the Bull of Heaven and when Gilgamesh kills Humbaba. In the culture of Mesopotamia, the people of Uruk find peace in death (Caputo, 2016). Similarly, in contemporary religious beliefs, people find peace through transition of death. Although historians pay more attention on Hammurabi and his code of law, other civilizations account like that of the Tigris -Euphrates and other first civilizations explain their existence by focusing on Gilgamesh and other prominent legends (Villiers, 2005). From the multiple accounts documented on Gilgamesh as a Legend, are characterized by mythical accounts and were written about 2000 B.C (Foster, 2014). The writings were on clay tablets and in Sumerian language. History shows that Sumerian language does not reflect any similarities to any other known language. The writings were in cuneiform whose translation means ‘wedge-shaped’. The twelve tablets that have been retrieved and translated by historians contain a chronological account originally written in Akkadian language (Jones, 2011).   In most of the accounts presented by the tablets, Gilgamesh is accorded a heroic nature and a superhuman presentation. Gilgamesh is presented as two-thirds god and one-third human. He is said to be the greatest king on earth. However, Gilgamesh is described as a young ruthless king who oppresses his people. The people are helpless and call to Anu, the sky-god to rescue them (Ilnitzki, n.d.). As a response to their prayers, Anu created and sent a wild man Enkidu from the wild forests of Gilgamesh’s land. Enkidu is created with wild powers and exceptional abilities and his purpose is to salvage the subhuman citizens who have been oppressed by the superhuman Gilgamesh (Jarman, 2014). The news spread rapidly from the first time that a trapper’s son encounters Enkidu running with the wild animals. Upon his father’s advice, the son takes Shamhat, a temple harlot to Enkidu as a test to see if the wild man would succumb to sexual desires. Even though he succumbs and loses his strength and wildness, he gains understanding and knowledge. Shamhat offers to take Enkidu to the city and show him Gilgamesh, whom she argues is the only one deserving Enkidu’s friendship (Foster, 2014). At the same time, Gilgamesh dreams twice with the first dream showing meteorite fall on earth. Gilgamesh is unable to overpower its might and his people celebrate around it. Although Gilgamesh is open to embrace it as though it were his wife, his mother forces a coemption between the meteorite and Gilgamesh (Ilnitzki, n.d.). The second dream portrays an axe on Gilgamesh’s door and still he is unable to turn or lift it. Again, people gather and celebrate it and Gilgamesh is willing to embrace it. However, his mother forces Gilgamesh to compete with the axe. Gilgamesh seeks explanation about the dreams from his mother who informs him that a great man would come into Uruk (Jones, 2011). Gilgamesh will collaborate with the mighty man and accomplish great deeds. Enkidu is introduced to civilization by receiving education and apprenticeship on tending flocks, civilized eating, wearing clothes and speaking properly. Enkidu’s formal introduction into Uruk happens on a day of great celebration (Villiers, 2005). The encounter between Gilgamesh and Enkidu happens when Gilgamesh is about to claim his self-declared right to have sexual intercourse with a new bride on her wedding night. Enkidu is infuriated by the abuse and prompts the two into a furious fight. Gilgamesh gets the upper hand as the fight resolves and the two embraces a sign of their devoted friendship. The two friends become weak with time and grow lazy living in the city. Gilgamesh proposes that for their friendship, they should take an adventure and journey through great Cedar Forest and cut all cedar trees (Ilnitzki, n.d.). However, they would have to kill the guardian of the forest first who is believed to be a Humbaba the Terrible. Enkidu is aware of the powers of Humbaba and tries to convince his friend not to undertake the adventure. It is important to note that most contents on tablets were not in existence. The salvaged information reports that the elders of the city undertook a protest against Gilgamesh’s but eventually agree (Haubold, 2014). The elders assigned Enkidu the responsibility to protect the king and required that the Enkidu takes the forward position in the battle. The king’s mother laments her sons’ fate asking the sun-god Shamash why he gave Gilgamesh a restless heart (Gadotti, 2005). The sun-god promises to watch over the king’s life. After being commanded by the queen mother to protect her son, Enkidu panics and tries to convince Gilgamesh to quit the adventure without success. The tablets explain the tale of the voyage to the cider forest. In the six-day voyage, Gilgamesh prayed to Shamash who sends oracular dreams to Gilgamesh in the night to respond to his prayers.   In another dream, Gilgamesh wrestles a bull that breaks the earth (Gadotti, 2005).   The dreams are ominous creating fear to Gilgamesh. The interpretation of the dream by Enkidu reveals Shamash protection. The revelation of Enkidu on his dreams illustrates success to his coming battles. The tablet exemplifies the unity between Enkidu and Gilgamesh to fight the demon of Humbaba. As Gilgamesh enters Cedar Forest, he shakes with fear praying and reminding Shamash of the promise of safety he had on Ninsun (Jarman, 2014). Shamash directs Gilgamesh to kill Humbaba when he is not wearing his armor of seven coats. The tablet provides an account of the two friends entering the magnificent Cedar Forest. Gilgamesh and Enkidu begin to cut the trees and Humbaba, the guardian, hears the sound and comes running with a roar to warn them off (Haubold, 2014). Enkidu tries to defend the king and warned Humbaba that the two are stronger that a mere demon. Overlooking Enkidu, Humbaba taunts the King for taking orders from nobody. Humbaba begins a fight with the two when he turns his face into a hideous form. Although Gilgamesh is too frightened and goes into hiding, Enkidu inspires courage and the two friends fight against Humbaba (Jarman, 2014). The sun-god intervenes in favor of Gilgamesh and Enkidu who acquire victory against Humbaba. Humbaba begs for his life as Gilgamesh holds a sword to his head. However, Enkidu convinces him that he would gain renowned fame across time and lands if he kills Humbaba. Gilgamesh succumbs to the yearning of such power and cuts Humbaba’s head (Ilnitzki, n.d.). Un fortunately, before dies, Humbaba curses Enkidu to never find peace and not live longer. Nevertheless, the two friends accomplish their adventure, cut down cedar trees even the tallest cedar tree and make a magnificent gate for the city Sumerian Poems of Gilgamesh In ancient writings from Mesopotamia, the name of Gilgamesh appears in different forms like Bilgames. Through history, five Sumerian poems have been copied about Bilgames on the varying degree of popularity in Babylonian schools with greater improvements on particular translations. The texts were collected to facilitate the epic Babylonian standard with other materials illustrated by Akkadian (Caputo, 2016). In the Babylonian epic, Gilgamesh Sumerian poems play the role of reconstruction and recovery from pieces of clay tablets preserved in museums in various countries. With increased text discovery, it is possible to observe and compare between Babylonian epic and Sumerian poems (Caputo, 2016). It enables people to appreciate the skills portrayed by Old Babylonian poets who expressed traditional stories and themes as primary materials in literature (Gadotti, 2005). However, it is difficult to determine if the knowledge used was derived from individual experience or written existing traditions in scribal schools or even knowledge from oral Sumerian traditions presented in Akkadian. According to Jones, (2011), the evident borrowing is present in adaptation of the story of Sumerians’ Huwawa and Bilgames that furnish elaborate narrative Expedition in Tablets III- V in the Babylonian epic. The simple efforts demonstrated by the Bull of Heaven and tale of Sumerian Bilgame’s achi eve episodes of Tablet VI Bull of Heaven and Ishtar (Caputo, 2016). Recent discoveries have been revealed in the Akkadian tale in Tablet VIII of Enkidu’s funeral which is closely related to Bilgame’s funeral and the traditional customs where Gilgamesh acquired the knowledge of Flood Heroes that restore cultic life practices of the land (Jones, 2011). The historical origin of the Sumerian poems is briefly covered. Ideally, the language of the Sumerians is used figuratively in expressing Akkadian that makes an abrupt opaque passage (Jones, 2011). The existing translations are aimed at presenting an original version to produce clear texts that have limited liberties on occasional phrasing. The five poems have survived numerous recessions with relative periodical intervals. In some cases, the texts can be repetitive as tablets have shared passages or abbreviated versions. The adopted policies provide a translation producing texts in the simplest form. Gilgamesh reigned between 2500 B.C with most historians agreeing that he ruled for about 126 years in Sumerian king List. Legendary accounts that surround his existence present Gilgamesh as a son of goddess Ninsum born to the king who reigned before him. Gilgamesh is a significant historical figure and this position is justifiable through multiple arguments. In the Epic of Gilgamesh, the king is the center character. The epic provides a chronological account of Gilgamesh. Having been written originally on stone tablets provides a confirmation that the Epic of Gilgamesh is an account of a king who had existed. A historical figure is justified to have multiple accounts written in his name or about him. In his own right, Gilgamesh is a historical figure. Being studied alongside other figure of importance in history, Gilgamesh represents a concept of true devotion of a leader and his commitment to expansion of his territory. Through such ambitions, Gilgamesh triggered wars and his quest to conquer new territories present a historically significant aspect. The other aspect of significant is that account that has been discovered containing documented information about Gilgamesh. However, the accounts provide more information about Sumerian kingdom, its people and development. For instance, in one of the tablets is an account about when Gilgamesh and his friend Enkidu set off to an adventure into the Cider Forest to cut cider trees. The information in the tablet informs of the society’s religious beliefs, political order and economic status. Through studying information about Gilgamesh, scholars are able to acquire information that helps them patch-up other semi-reconstructed works of history. As such, Gilgamesh is a relevant historical figure in the contemporary society. Gilgamesh might fail to meet the requirements for a hero according to the contemporary standards but it is with no doubt he is a sign of historical significance for the society. References Caputo, D. (2016). From Sumerian tales to Babylonian epic: an interdisciplinary student guide to Gilgamesh. The International Journal of Literary Humanities, 14(4), 39-54. doi: 10.18848/2327-7912/cgp/v14i04/39-54 Foster, B. (2014). A new edition of the epic of Gilgamesh | Review by: Benjamin R. Foster | download. Retrieved from https://booksc.xyz/book/27681472/bb69d6 Gadotti, A. (2005). A. R. George: The Babylonian Gilgamesh Epic: Introduction, Critical Edition And Cuneiform Texts. 2 vols. xxxv, 741 pp., iii, 743–986 pp., 147 plates. Oxford: Oxford University Press, 2003.  £175. Bulletin of The School of Oriental and African Studies, 68(01). doi: 10.1017/s0041977x05260056 Haubold, J. (2014). Gilgamesh among Us: modern encounters with the ancient epic by theodore ziolkowski. American Journal of Philology, 135(4), 669-672. doi: 10.1353/ajp.2014.0045 Heidel, A. The Gilgamesh epic and old testament parallels [Ebook]. London: The University of Chicago Press. Ilnitzki, M. Gilgamesh and the Quest for Immortality [Ebook] (pp. 5-9). Jarman, M. (2014). When the light came on: the epic gilgamesh. Retrieved from https://booksc.xyz/book/27162289/03b5b7 Jones, S. (2011). Review of the buried foundation of the gilgamesh epic: the akkadian huwawa narrative. Journal Of Hebrew Scriptures, 11. doi: 10.5508/jhs. 2011.v11.r21 Putra, J. (2013). Gilgamesh among us: modern encounters with the ancient epic. English, 62(237), 218-220. doi: 10.1093/english/eft012 Villiers, G. (2005). Understanding gilgamesh: his world and his story (Masters). University of Pretoria.

Essay Gender Theory - 1950 Words

Gender Theory Gender Theories can be related to a person’s emotional stability, status in society, work ethics and most important their ability to relate to others. As the sources of text, personal experience, research books, articles and websites are used to explain the importance of male and female communication, in itself it is only a theory based on the historical and internal learning that influence me as a student (Wood, 2011). In the end, the theory that best describes my gender characteristic will influence the outcome of opinion. That is what makes Gender Theory so interesting, it is a theories based on personal bias. In order to explain the differences and similarities in gender several theories have been established and†¦show more content†¦Males are assumed independent and more free spirited; the psychodynamic theory associates this is learned early in childhood development possibly even back to infant stage. It is believed that because mothers tend subconsciously to disassociate themselves with their sons so that they are not too dependent on them that early development the sense of independence gives way to the domin ance tendencies males have genetically. Social and cognitive theories are based more on the learning of behavior expected from each sex. Socially even as young children acceptance is very important, especially now when children are reared more outside the home from private childcare due to parent working the social skills needed to fit in start even earlier. Especially for girls it becomes obvious the expectations of girls verses boys; girls are dressed by parents most often to look pretty and fit in with the expected style even at toddler ages. When girls are told they are pretty or the clothes they have on is pretty then it begins the learning pattern of how they look determines if they receive a smile and praise or no attention at all. 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Market Growth and Trends Free Essays

Growth Rate of the Aircraft Manufacturing Industry According of FAA Aerospace Forecasts, the number of commercial aircrafts is expected to grow from 7,626 in the year 2006 to 11,203 in the year 2020 with an average annual growth rate or 2.8% or 256 aircrafts (FAA Aero space, 2007, p. 14) Trends in the Aircraft manufacturing Industry Its effects on the industry Of these the number of passenger jets in the mainline carrier fleet, in this period, would on an average increase by an average of 163 aircrafts per year to reach a total of 6,041 in 2020. We will write a custom essay sample on Market Growth and Trends or any similar topic only for you Order Now    The number regional jets has been forecasted to increase on an average by 3.4 %   from 1,687 in 2006 to 2,689 in 2020. The turbo-piston aircraft is however expected to decline from 1056 in 2006 to 1,005 in 2020. The cargo jet aircrafts are projected to increase by 23 aircrafts per year, the narrow-body aircrafts are projected to decline by 4 aircrafts a year, and the wide-body jet fleet i.e. the Airbus A-380 segment is projected to increase by more than 37 aircrafts a year. (FAA Aero space, 2007, p. 15) The demand for the business jets have been seen to increase over the past couple of years and this trend is expected to continue in the coming decade. Hence a demand for micro-jets is expected to rise in this period. The year 2005 saw a new type of aircraft â€Å"light sport aircraft†. Looking at the number of aircrafts being registered, the number of this type of aircrafts is projected to rise rapidly. (FAA Aero space, 2007, p. 16) Boeing Company: Key Competitors Following are they Key Competitors of Boeing: 1.Lockheed Martin Corporation – The Company’s aeronautic division manufactures military aircrafts and related technologies. Some of the products of the company are: â€Å"F-35 Joint Strike Fighter, the F-22 air dominance attack and multi-mission combat aircraft, the F-16 multi-role fighter, the C-130J tactical transport aircraft, and the C-5 strategic airlift aircraft† (Yahoo Finance, 2007, para 1) 2.European Aeronautics Defense and Space Company EADS N.V. – EADS has been formed by combing the following companies: The Daimler Chrysler Aerospace or DASA and Aerospace Matra from France, and Construcciones Aeronicas SA or CASA from Spain (Yahoo Finance, 2007, para 1) 3.Airbus S.A.S. – This is the world’s #1 commercial aircraft manufacturer. Some of the aircraft manufactured by the company are the A318, A319, A320, A321 of the single aisle type and A300, A310, A330, A340 of the wide body type. (Yahoo Finance, 2007, para 1) 4.Northrop Grumman Corp.- The company manufactures various types of aerospace systems for the US Government (Yahoo Finance, 2007, para 1) 5.General Dynamic Corp.- The airline division of this company manufactures business-jet aircraft for various clients like private individual, government agencies and corporations (Yahoo Finance, 2007, para 1) 6.GE Aviation – The company is world’s largest engine manufacturer for military and commercial airplanes (Yahoo Finance, 2007, para 1) Marketing Mix Product This paper focuses on the Boeing Corporation’s aircraft products. The aircrafts produced by this company are the commercial jet aircrafts for the airline industry. The company manufactures aircrafts for 100-500 passengers. The products of the company include the following aircraft types: 737, 747, 767, 777, and 787 Dreamliner. Price The pricing strategy that Boeing, when it enters is new market is to use the penetration pricing strategy i.e. use low cost combined with better quality of products. This strategy was immensely successful in making the 737 family a well known name outside the US market. (Cavallone, Cassia, Zappella, 2007, p. 5)   A strategy that proved to be a failure however was that reduction of prices for the entire fleet at a time, and terming it as a sale. The repercussion of this was. Northrop and EADS captured strong market shares which were previously held by Boeing Placement As mentioned above, Boeing has different families of products for different market segment. Each of the family is placed in a different category. For instance 737 is aimed towards smaller and low cost airlines, 747 has a presence with almost every major airline, 767 and 777 are aimed towards airlines flying international and long distance etc. Promotion Aircraft manufacturing industry is a B2B business segment. The cost of products is huge while the numbers of products sold are less. The company regularly participates in fairs where its products are displayed. In addition to this the company also participates in indirect marketing by publishing its technical achievements in various technical fests via news and print media. Works Cited Online Articles Cavallone M, Cassia F, Zappella C, 2007, International g Mix, 8th October 2007, http://www.unibg.it/dati/corsi/6489/21318-4.%20The%20International%20M-Mix%20-%20Product%20and%20Pricing%20Strategies.pdf Websites â€Å"Commercial Airplanes†, 2007, Boeing, 8th October 2007, http://www.boeing.com/commercial/products.html â€Å"FAA Aerospace Forecast Fiscal years 2007-2020†, 16th March 2007. FAA-US Department of Transportation,. 8th October 2007, http://www.faa.gov/data_statistics/aviation/aerospace_forecasts/2007-2020/media/FAA%20Aerospace%20Forecasts%20FY%202007-2020.pdf Pages taken from Yahoo Finance Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://finance.yahoo.com/ â€Å"Airbus S.A.S Company Profile†. Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://biz.yahoo.com/ic/40/40566.html â€Å"European Aeronautic Defense and Space Company EADS N.V. Company Profile†, Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://biz.yahoo.com/ic/101/101208.html   Ã¢â‚¬Å"GE Aviation Company Profile â€Å".Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://biz.yahoo.com/ic/57/57976.html â€Å"General Dynamics Corp.†, Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://finance.yahoo.com/q/pr?s=GD â€Å"Lockheed Martin Corporation†. Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://finance.yahoo.com/q/pr?s=LMT â€Å"Northrop Grumman Corp.†. Yahoo Finance. 2007. Yahoo Inc. 8th October 2007, http://finance.yahoo.com/q/pr?s=NOC How to cite Market Growth and Trends, Essay examples

Disclosure Of Goodwill Impairment Testing -Myassignmenthelp.Com

Question: Discuss About The Disclosure Of Goodwill Impairment Testing? Answer Introducation The main objective of this study is to make analysis and evaluation of various aspects of impairment testing for Forge Group Limited. It needs to be mentioned that the testing of impairment takes place when the marketing value of an assets shows less than the reported value in the financial statements (Ramanna and Watts 2012). From the analysis of the annual report of the company, it can be observed that the company has used goodwill for the purpose of impairment testing. The analysis of the annual report also shows that the company has their business goodwill in each of the groups cash generating units that is expected to be beneficial for the company. Forge Group Limited does the testing of the cash generating units of goodwill on an annual basis or more frequently when the company gets the indication that the particular asset may be impaired. In case there is any loss of impairment in goodwill, the company uses to recognize it in the profit of loss in the comprehensive income stat ement (Ji 2013). The analysis of the annual report of Forge Group Limited shows that the company uses a specific technique for impairment testing. In Forge Group Limited, goodwill originated from the business combination is considered as intangible assets. There is not any provision for amortizing the goodwill but to test them when there is any indication of impairment (Aschfal, Evertz and Oliver 2013). As a part of this testing, the allocation of goodwill is done among the companys cash generating units. With the help of goodwill testing, the company use to determine the recoverable amount of each cash generating units and it is done with the help of value-in-use calculation. The value-in-use calculation is done based on the present value of the cash flow projections over a period of three years. The discount of the cash flows is done with the use of a post-tax nominal discount rate that is based on the companys weighted average cost of capital after the adjustments of risks and cash generating unit s. At the time of carrying on the impairment testing, business organizations incur certain amount of expenses that is considered as impairment expenditures. There is not any exception of this fact in case of Forge Group Limited (Khairi, Laili and Tran 2012). From the analysis of the annual report of Forge Group Limited, it can be observed that the company has not incurred any expenditure related to the testing of impairment in the year 2013. However, it can be seen that the company recorded $224,000 as impairment loss in the year 2012. The analysis of the annual report of Forge Group Limited also shows that the company has recorded $582,000 and $267,000 as provision for impairment of trade receivables in the year 2013 and 2012 respectively. These are the expenditures related with impairment testing in Forge Group Limited. It is required for the business organizations to make certain important assumptions at the time of conducting the impairment testing. In case of the impairment testing of Forge Group Limited, the presence of certain assumptions can be seen. These key assumptions are discussed below: For the projection of cash flows, the company uses to factor long-term sustainable growth rates into the valuation models based on the comparability to the market and industry average. The basis of modeling is average post-tax discount rate specific to the cash generating units (Olante 2013). From the used discount rates, the estimation of the management related with the time value of money can be done along with the risk associated with each of the cash generating units. The use of the weighted average cost of capital is used for the determination of the discount rates for each cash generating units. Forge Group Limited has made the assumption of the required growth rate and discount rate for the testing of goodwill. For Forge Group Construction, the assumed growth rate and discount rate is 5.0% and 15% respectively. On the other hand, for Forge Group Power, the assumed growth rate and discount rate is 5.0% and 15% respectively. As per the assumptions made by the management of Forge Group Limited, the calculation for value-in-use is based on the approved budget for each cash generating units. In these budgets, the use of weighted average growth rate can be seen for the projection of revenue. The calculation of cost is done by considering the historical gross margins along with the estimated weighted average rate of inflation over the periods. The assumptions related with the discount rates are done based on the nominal post-tax rate after adjusting them with the risk associated with the cash generating units (Amiraslani, Iatridis and Pope 2013). From the above analysis, it can be seen that Forge Group Limited has done their impairment testing as per the required accounting regulations. From the analysis of the annual report of Forge Group Limited, it can be observed that there is not any subjective discretion in the process of allocation and impairment testing of goodwill and it implies that the company has not carried out the impairment testing in any opportunistic manner. The impairment testing of the goodwill in Forge Group Limited has been done in the presence of appropriate discount rate along with future amount of cash flows. Thus, it can be said that that is not any subjectivity that can influence the impairment testing outcome (Darrough, Guler and Wang 2014). The most interesting aspect in the goodwill impairment testing of Forge Group Limited is the making of right set of assumptions along with the allocation of goodwill in the cash generating units. It can be observed that the company has provided all the justifications along with the clarifications regarding goodwill impairment testing in the notes of financial statements. The surprising aspect of the impairment testing is the review of assets on an annual basis in order to check the presence of impairment (Bepari, Rahman and Mollik 2014). After the assessment of the impairment testing of Forge Group Limited, it can be observed that the company follows the standards of AASB 9 for the impairment testing and the allocation of the impaired assets in the cash generating units. In addition, from this analysis, one can get effective insight about the process of impairment testing carried out by the large business organizations. Apart from this, proper insight can be obtained about the matter that the companies have started to use the new accounting model for impairment testing that is based on the anticipated credit losses instead of incurring the credit losses (Hamberg and Beisland 2014). Fair value refers to a basis for the valuation of the assets and liabilities of the companies. More specifically, fair value measurement is considered as a standard as the price that would be received from the sale of any assets or the price that needs to be paid for the transfer of a liability will be based on the date of measurement. It implies that the business organizations are required to consider the market value of the assets and liabilities at the time of doing transactions related with the selling or buying (Glaum et al. 2013). As per the current accounting standard, it is the obligation to the lessees and lesser to make the necessary classification related with the operating lease and capital lease of their businesses. The current accounting standard provides the companies with the choice of disclosing the information related to lease under the liability and asset section for a brief period of time. There is not any obligation for the operating lease as well as the capital lease to disclose them in the company balance sheet. For this reason, companies get the option to present the lease information in the balance sheet (Collins, Pasewark and Riley 2012). Companies state the information related with the total amount of liabilities in their balance sheet; but the understatement can be seen in case of lease as it is not mandatory for the companies to disclose the lease information. It can be happened that the companies have huge amount of lease liabilities that are more than the total liability of them and still, it cannot be observed from the balance sheet. For this reason, the investors will not be able to access sufficient amount of information about the assets and liabilities of the companies from the balance sheet that will make the investors depictive about the financial position of the companies (Jackling, Howieson and Natoli 2012). The earlier standard of lease made it obligatory for the companies to only record the information about capital lease in the company balance sheet. For this reason, there was lack of disclosure for the users of financial information and investors in gaining better understanding regarding the uncertainty about the origination of cash flow from lease activities. Thus, in the previous lease standards, there was lack of qualitative as well as quantitative aspects in gaining required information about leases in the financial statements of the companies. Due to this, the firms used to fail in attaining the desired financial results. More importantly, the lack of information leads to less realistic presentation of liabilities and assets related with lease (Weil, Schipper and Francis 2013). Under the current accounting standard, there is not any obligation on the companies in recording the lease information in the balance sheet; but it is the obligation on the companies to make the timely payment of these leases. It implies that the business organizations are underestimating the liabilities of their business by not including the leas liabilities in the balance sheet. In addition, it needs to be mentioned that there are number of lease liabilities that are responsible for creating major difference between the recorded amount of total liabilities in the balance sheet and the liabilities existed in off-balance sheet record. For this p particular reason, the total amount of debt in the balance sheet stands 66 times lower than the liabilities recorded as per off-balance sheet (Street 2012). It can be seen that the airline companies have made lease of huge amount of planes and there is not any obligation on them to record these leases in the company balance sheet as per the previous lease standard. As per the earlier lease standard, companies have made the classification of leases based on historical cost and have recorded them based on off-balance sheet system (Huerta, Petrides and Braun 2013). For this reason, huge difference can be seen in the liability position of the airlines companies that are making the lease of large amount of planes and the companies that are purchasing the planes. Due to this, he difference can be seen in the financial position of the companies on off-balance sheet basis. For this reason, the investors face great difficulties in determining the actual financial position of the airline companies. In addition, there were contrasting results due to the presence of financial leverage and operational activities. The presence of numerous number of criticism can be seen in the new introduced standard of lease accounting and for this reason, there will not be many popularity of this new lease accenting standard. Under this standard, there will be considerable change in leases in the balance sheet that would create impact on the leverage situation and thus, there will be increase in the cost of the company. It needs to be mentioned that this new lease standard has brought complexities in the process of lease accounting and cost reporting. For this reason, it is the obligation on the companies to update their financial system in order to improve the process of lease disclosure. For this reason, companies will be required to incur more amounts of costs that will lead to the unpopularity of this lease standard (Gordon et al. 2013). The companies will be able to present the financial information in a better manner in the presence of new leasing standard. Thus, there will be both qualitative as well as quantitative information about lease in the balance sheet of the companies. Moreover, investors will be able to gain better understanding about the financial position of the companies. The reflection of enough information about assets and credits risks will be there in the financial statements. 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