The Royal Museums of Fine Arts of Belgium are a group of art museums in Brussels, Belgium. The Royal Museums contains over 20,000 drawings and paintings, which date from the early 15th century to the present. In 1845, it was decided, by Royal Decree, that a museum was to be founded with works of art of deceased and living Belgian artists. A national commission was established to select important works of art; the first president of the commission was the Count de Beaufort. Other members were: president of the Royal Museum of Antwerp. François-Joseph Navez, president of the Académie Royale des Beaux-Arts of Brussels. Guillaume Geefs Eugène Simonis Tilman-François Suys, professor at the Académie Royale des Beaux-Arts. Luigi Calamatta, professor of engraving. Many of the founding members were active in the Royal Academy of Science and Fine Arts of Belgium; the museums are situated on the Coudenberg, in Brussels. There are six museums connected with the Royal Museums; the Magritte Museum, opened in 2009, Fin-de-Siècle Museum, opened in 2013, are adjacent to the main building.

The smaller Constantin Meunier Museum and the Antoine Wiertz Museum, dedicated to these two Belgian artists, are located a few kilometers from the city centre. The museum has an extensive collection of paintings and drawings from the fifteenth to the eighteenth century; the bulk of the collection is formed around Flemish painting, presented in chronological order. For example, there are valuable panels by the Flemish Primitives; the museum is proud of its "Rubens Room", which houses more than 20 paintings by the artist. The painting Landscape with the Fall of Icarus, long-attributed to Bruegel, is located there and forms the subject of W. H. Auden's famous poem "Musée des Beaux Arts", named after the museum. There are constant temporary exhibitions; the museum has one of the richest collections of paintings by the Belgian surrealist painter René Magritte. Inaugurated on 20 May 2009, the Magritte Museum opened on 2 June 2009. Inaugurated on 6 December 2013, the museum presents collections of artists such as Constantin Meunier, James Ensor, Henri Evenepoel, Fernand Khnopff, Leon Spilliaert, George Minne.

The life and work of Antoine Wiertz are honored in the painter's former studio, in the heart of the Leopold Quarter. This unique museum offers a striking view of the monumental paintings and sketches marked by the Belgian romantic movement. Located in the former house and workshop of Constantin Meunier, the museum houses 150 works and documents by the realist painter and sculptor; the chief curators or directors of the museum have been: 1961–1984: Philippe Roberts-Jones 1985–1989: Henri Pauwels 2005–present: Michel Draguet The main building which now houses the Museum of Ancient Art was built as the Palais des Beaux-Arts, designed by Belgian architect Alphonse Balat and funded by King Leopold II. Balat was the king's principal architect, the building was one part of the king's vast construction projects for Belgium; the building was completed in 1887, stands as an example of the Beaux-Arts architecture use of themed statuary to assert the identity and meaning of the building. The extensive program of architectural sculpture includes the four figures of Music, Architecture and Painting atop the four main piers, the work of sculptors Égide Mélot, Joseph Geefs, Louis Samain, Guillaume de Groot respectively.

The finial, gilded Genius of Art was designed by de Groot. The three rondels of Rubens, van Ruysbroek, Jean de Bologne, who represent Painting and Sculpture, are the work of Antoine-Joseph van Rasbourgh, Antoine-Félix Bouré and Jean Cuypers; the two bas-relief panels are Music by Industrial Arts by Charles Brunin. The two bronze groups on pedestals represent The Crowning of Art by Paul de Vigne, The Teaching of Art by Charles van der Stappen. On the side of the building, a memorial commemorates five members of the Mouvement National Royaliste, a resistance group, killed during the liberation of Brussels on 3–4 September 1944. Alongside the western face of the building is a sculpture park, with works by Aristide Maillol, Emilio Greco, Paul Hanrez and Bernhard Heiliger. Belgian Federal Science Policy Office Centre for Fine Arts Culture of Belgium Royal Museums for Art and History Grant Allen, "Brussels Picture Gallery", Belgium: its cities, Boston: Page Official website Search collections Royal Museums of Fine Arts of Belgium on Facebook Royal Museums of Fine Arts of Belgium on Twitter Royal Museums of Fine Arts of Belgium on Instagram

An earnings surprise, or unexpected earnings, in accounting, is the difference between the reported earnings and the expected earnings of an entity. Measures of a firm's expected earnings, in turn, include analysts' forecasts of the firm's profit and mathematical models of expected earnings based on the earnings of previous accounting periods. Stock markets tend to react in the same direction as earnings surprises—positively to positive earnings surprises and negatively to negative earnings surprises—although a significant proportion of earnings surprises result in stock markets reacting in the opposite direction, which may be a reaction to other relevant information released with the earnings announcement or inaccurate measurement of the earnings surprise; the market, may not estimate the implications of earnings surprises when it revises its expectations of future earnings, which will decrease the change in stock prices associated with the change in earnings. In fact, many studies in accounting research have documented that the market takes up to a year to adjust to earnings announcements, a phenomenon known as the post-earnings announcement drift.

Large negative earnings surprises may have reputational costs to managers. Firstly, managers can be held liable if shareholders sue the firm for failing to disclose negative earnings news promptly. Secondly, money managers may choose not to hold, analysts may choose not to follow, the stocks of firms whose managers have reputations for withholding bad news; this may contribute to managers' voluntary disclosure of information related to negative earnings surprises: quarterly earnings announcements containing large negative earnings surprises are preempted by voluntary disclosures more than are other earnings announcements. Earnings surprises can be measured using analysts' forecasts. In accounting research, a measure that uses historical earnings is standardized unexpected earnings. SUE is the standardized difference between reported earnings and expected earnings, where expected earnings is modelled based on the assumption that earnings follows a seasonal random walk with a trend. In other words, in the case of quarterly earnings the SUE for quarter t is S U E t = Q t − E σ where σ is the standard deviation of X, the expected earnings, E, is calculated using prior reported earnings: E = δ + Q t − 4 where Qt-4 is the reported earnings for quarter t-4 and δ is the average trend.

An alternative measure of SUE that uses analysts' forecasts is S U E = E P S − F o r e c a s t σ where EPS is a firm's earnings per share, Forecast is analysts' consensus forecast of its earnings per share. Profit warning

Agafya "Halyna" or "Galina" Andreyevna Kuzmenko Makhno was a Ukrainian teacher and anarchist, the wife of Nestor Makhno. Halyna Kuzmenko was, according to most sources, born in 1896 in Kiev in what was the Russian Empire. After her birth, her parents moved to the village of Pichtchany Brid in the Yekaterinoslav Governorate, in what is now Kirovohrad Oblast in central Ukraine. Other sources claim that she was born in Pichtchany Brid, her father, a former farmer, worked as a policeman. During her higher education, she attended the teachers' seminar in Kiev, became a teacher in 1916, she taught Ukrainian literature in the town of Huliaipole. She became well known as a Ukrainian anarchist and patriot and as an active local activist of the Prosvita. In early 1919, Halyna Kuzmenko married Nestor Makhno, who at the time was leading the forces of the Free Territory against the invading Russian Red Army as the Russian Civil War came to Ukraine, she was described by Viktor Belash, Chief of Staff of the Revolutionary Insurrectionary Army of Ukraine, as a tireless advocate for women and their education.

In the fall of 1919, she was elected president of the Union of Teachers. During the Makhnovist retreat from their positions at the same time, the Nabat was temporarily replaced with a group of Ukrainian national anarchists, whose viewpoints won Kuzmenko over, she continued to espouse their ideology until 1922. Directly connected by authors such as Ibid Teper to Symon Petliura, he drew the conclusion that this group was at least responsible for the rise in antisemitic violence within the ranks of the Insurrectionary Army at the same time. Other sources mention her as part of a hidden conspiracy, aimed at removing Makhno from his position of power, merging the Petliurist Army of the UNR with the Insurrectionary Army, in order to fight together against both the White and the Red Army; this never came to a reality, as the popularity of the movement decreased following the revelation of documents collected by the kontrrozvidka, the Makhnovist secret police. These documents contained definitive proof that Petliura had been negotiating with high-ranking officers of the white movement, most notably Anton Denikin, in order to ally against both the Red and the Insurgent armies.

In August 1921, following the fall of the Free Territory and Kuzmenko fled to Romania, from which they moved to Poland. Their daughter, was born in 1922. On 25 September 1923, they were arrested by the Polish authorities, being accused by two members of the Ukrainian Insurgent Army of preparing an insurrection in Galicia for the construction of an anarchist-communist society together with the Cheka. Kuzmenko and Makhno were both acquitted, in 1924, the pair went first to Germany and to Paris in 1926. For 10 years, they lived a peaceful life in Vincennes, but the health of Nestor Makhno started to decline. The couple survived on the salary of Halyna, a worker in a shoe factory in Paris, the help of other anarchist comrades. Following the death of Nestor Makhno in 1934, Halyna Kuzmenko began to contact family and friends back in what was now the Ukrainian Soviet Socialist Republic, in order to return to the USSR. During her working-time in Paris, as a librarian in the Slavic Department of the Bibliothèque nationale de France, she collaborated with the secret services, transmitting information to the USSR.

During the Second World War and the German occupation, Yelena was sent to Germany under the Service du travail obligatoire, where she worked in a Siemens factory. Halyna Kuzmenko followed her, chose to stay with her in Germany, waiting with her plans to move to the USSR. In August 1945, as new identity documents were being issued for them and Halyna were arrested by the Soviet authorities; the two were sent to Kiev, where, in July 1946, Halyna Kuzmenko was sentenced to 8 years in prison having participated in the Ukrainian insurrection, being sentenced on counts of counterrevolutionary activity. Yelena was sentenced to 5 years in prison for collaboration with the German occupying forces; the trial was not made public. Imprisoned in Doubravlag camp, Halyna was released following the amnesty of 1954, or, according to other sources, in 1963. Following her release, she continued to live with her daughter, moving to the city of Djambul, today Taraz, Kazakhstan, she went several times to Gulyai-Polye to see her relatives.

In 1977, Galina petitioned the Presidium of the Supreme Soviet with a complaint about the persecution at work of Elena Nesterovna. Halyna died in Taraz on 23 March 1978 at the age of 81. Galina Kuzmenko was the president of the Teachers' Union of Makhnovia, a position she held from 1919 to its de facto abolishment with the fall of the Free Territory, it was during this period. This new system was, in contrast to the religious and state-driven Imperial Russian school system, based on anarchist ideals and a divorcing of education from religion, her actions there were focused on the funding the activities, organizing the education in the border territories controlled by the Makhnovists, the management of schools by joint teacher-parent councils, the development of new school curricula. The inspiration for the system, implemented in the Free Territory was presented in a pamphlet of the Spanish libertarian pedagogue Francisco Ferrer, whose theories about creating a school system free from the influence of the state was influential throughout the international anarchist movement.

Before the military defeat of the anarchists, the system was well-received by p