Dr. Becketts Dental Office free essay sample

The issue begins when she never gave significance on the ramifications of the board yet rather run just her business in a manner she needed it to be. * She couldn't have cared less of maintaining a business without a foundation on taking care of and dealing with a business. She generally requests a consultant’s help and that isn't sufficient to simply depend on them in light of the fact that Dr. Beckett never attempt to comprehend and realize of what might be the consequences.An case came, when specialists and dental specialist need to infer HMOs strategy, yet she never inferred on it rather she depend to an expert and do rather what she needed to do, she didn't take a gander at what issue she may experience in being in favor to this development. * Dr. Beckett chooses to overhaul the administration conveyance framework. As far as offices she needed the workplace to mirror her own character and qualities just as giving a charming spot to her staff to work. She furnished representatives with numerous chances to refresh their aptitudes by going to classes and workshops.She likewise remunerated their difficult work by giving month to month rewards if business had been acceptable. * She understood that efficiency gains were important; she doesn’t need to bargain the nature of administration her patients got. Since more excellent consideration was all the more exorbitant, Dr. Beckett patients some of the time needed to pay expenses for cost that were not secured by their protection approaches. * These patients may choose to change to HMO dental specialist (Health Maintenance Organization). The HMOs set the costs for different administrations by putting an upper restriction on the sum that their primary care physicians and dental specialists could change for different strategies. The preferred position to patients was that their medical coverage took care of practically all expenses. Yet, the value confinements implied that HMO specialists and dental specialists would not have the option to offer certain administrations that may give better quality consideration however were excessively costly. In some cases, staff individuals would fill in for one another when important to help with undertakings that were not explicitly in their sets of responsibilities so as to make things significantly more easily. This example is certifiably not a decent practice since the support of be offered may not fulfilled the clients particularly in the situations when these staffs truly don†™t comprehend what to do.Still, the executives spread the administration offered or Beckett doesn’t realize that in the board, they should offer need to the particular field that the staffs should center and work to. Since she never offers significance to it, outcomes may definitely occur. Dr. Beckett simply just depend on the word or mouth done by her present patients so as to have new clients to profit the administration offered, she even idea that she doesn’t need to sell herself since her present clients had just been enlightened their loved ones regarding her administration, in addition to she doesn’t need to promote, since her present clients are a major help.One more thing, since publicizing isn't actualized, Dr. Beckett make some hard memories in showing the elevated level of value that she wish to tell her patients, and how to assist them with having a positive and great demeanor towards the administration. She wouldn't fret about the client needs. In general, the issue or Dr. Beckett secured the arrangement of the board in her business and how to improve mush the administration she offered with the assistance of setting up the correct route on dealing with a business. Proclamation of the Problem * How will Dr. Beckett and her staffs improve the administration arrangement of the organization? How do Dr. Beckett and her staffs instruct patients about the administration they are receivingShe concluded that her top need was separating the training based on quality. Since more excellent consideration was all the more exorbitant, Dr. Beckett’s patients here and there need to pay expenses for costs that were not secured by their protection approaches. On the off chance that the quality contrasts weren’t considerable, these patients may choose to change to a HMO dental specialist or another lower-cost supplier. Sine Dr. Beckett doesn't worry about her client needs and simply center and offer before the activity she’s attempting to her patients tend not to live on heading off to the dental specialist and will in general have a negative demeanor toward that service.Alternative strategies * Dr. Beckett must actualize a superior administration framework in the organization so as to convey a superior help and fulfill their clients that her administration is with high caliber. * Dr. Beckett must advance and teach the administration she offers to her clients with the goal for them to know the advantages they may get and despite the fact that the cost of her administrations is high, the characteristics of the administrations are justified, despite all the trouble. First is the Comfortable Dental Anesthetic conveyance that guarantees the patients’ visits are in every case simple and agreeable. Second, is the Dental Laser for gums that is successful for sterilization, quicker mending, brisk and simple to utilize, less requirement for sedation, insignificant inconvenience a while later and better outcomes. Also, third, is the Dental Air Abrasion, which is a moderately new tooth planning procedure that can be use instead of customary dental drill. It permits the dental specialist to fix up the teeth without the clamor and vibration of the drill.Recommendation * Dr. Beckett must pick the entirety of the elective game-plans referenced above so as to acquire clients and keep the current ones by giving Thank you cards to patients who alluded different patients; follow up calls to patients after significant systems; a goodie box for patients including toothbrush, toothpaste, mouthwash, and floss; buckwheat pads and cover for persistent solace during long methods; espresso and tea in the holding up region, and a photograph collection in the holding up territory with pictures of sta ff and their families.Learning * Before making up any move we should ensure that it is for acceptable and to improve things so we don’t have any lament and before setting up a business we should have enough data, information and comprehension on the best way to deal with a business so our business will remain longer in industry. Before overhauling the administration framework we should assess and figure the expense of it since quality administrations consistently associate with greater expense so different clients could benefit the administrations planned to offer. * A specialist co-op must acknowledge the criticism of their client in light of the fact that there are a few clients that are not content with quality and estimation of the administration they get from the organization.

Mary Morrison's Ethical Issue Case Study Example | Topics and Well Written Essays - 750 words

Mary Morrison's Ethical Issue - Case Study Example This contextual analysis features the key issues concerning programming robbery, the moral issues looked by the clients, and the ramifications of enjoying programming theft. All the while, it likewise gives a far reaching survey of the quickly disintegrating moral convictions and the negative effect of such follows up on the general public all in all. Mary Morrison, a business understudy at Big State University was talented another PC by her folks. The PC had the fundamental Windows Operating framework introduced and no other programming was furnished with it. Mary being an understudy required Microsoft Office Suite programming to help her in her examinations, for example, making spreadsheets and introductions. Since the PC had no such programming introduced, she was constrained to get it. On request it was discovered that the product she required would cost her $199. Despite the fact that Mary had a place with a monetarily wealthy family, she confronted budgetary troubles because of the increasing expenses of training. She had a clear wellspring of pay from her position at a book shop yet she was setting aside cash for her school excursion and spending it on the product would hamper her arrangements to do as such. Her companion Frank, offered to furnish her with a pilfered duplicate of the product she required. Henceforth Mary wa s confronted with a basic moral quandary - that of deciding to forego her virtues and utilize the pilfered programming for nothing or go through her investment funds for the school excursion and purchase the lawful duplicate of the product, and maintain her virtues. Programming robbery is one of the most problems that need to be addressed in present occasions, and has recently become a worldwide marvel costing the business billions of dollars consistently. Since the time the development and extension of the market for programming there has been a synchronous ascent in the unlawful deal and download of the equivalent (Grabosky and Smith, 1998; Drahos and Braithwaite, 2002). The unlawful deal and download of programming will in general prevent firms from

Recent Advances in Mechanical Micromachining Essay

Preparing a Law School Admission Essay Topic

Preparing a Law School Admission Essay TopicLaw school admission essays are one of the most important parts of the admissions process. Not only does this guide you through what will be expected of you, but it also serves as a place where you can show that you are an intelligent person who is willing to work hard and learn in order to do well in school.There are many topics that can be used in your law school admission essay topics, depending on the way you want to go about your career. If you are considering becoming a lawyer or working in a law firm, you could include topics such as career goals, your character, and the area of law you would like to practice. If you are considering going into academia, there are topics that will help you explain why you would enjoy this type of profession, what you would like to study, and your interest in academics. These are all great topics to use in your essay.The format of your law school admission essay topics will depend on how you want to pr esent yourself. For example, if you are going into academia, you can write something very personal, writing about the areas in which you have the greatest interest, about the mentors that have influenced you, and how your career will change when you become a scholar. If you are going into law, you can either write something more professionally, such as a job description or the reason for entering into law, or you can go to a more personal level. This can include things like what your dreams are, your writing habits, and how you are unique and different.A great place to start with your law school admission essay topics is to write about what your dreams are. Whether you are going into academia or law, you should list out the dream that you have in life and then list out the schools or universities that you would like to attend. Make sure that you leave out the undergraduate colleges because many times these schools will need to see proof of your high school diploma or some other form of admission before admitting you. This may cause you to lose admission to a school if you have been enrolled in a program since the age of eighteen.Writing a personal piece is one of the best ideas that you can do. You will find that it has many benefits over the professional way of writing. It shows that you are not simply trying to impress the admissions officers or even that you have a very deep personal desire for your chosen career. It is also a good way to add things to your application that will show why you are a better fit for the institution you are applying to. Many times you can get admission to the college or university just by having a unique passion or interest.Another thing to consider with your law school admission essay topics is to write something that will not be boring. Make sure that you make the essay interesting by making your topic interesting. Even if you are writing about the job you would like to do at law school, if the essay is filled with information and numbers, you are not getting the attention you would like.One of the easiest ways to keep your law school admission essay topics from being boring is to avoid using a formal format. A legal paper has no place in an undergraduate college or university. Instead, try using a more informal style. This can help you make your piece seem fresh and appealing to the admissions officer you are applying to.

Police Prejudice and Racism Essay - 3516 Words

There are many instances where minorities are not given the chance to prosper in American society. The same system that promises all men equal opportunity has turned its back in the face of minorities. We plan to examine some segments of this system, namely the media and the criminal justice system, exposing injustices burdening minorities in America. The media, in particular broadcasting news, has catered to stereotypes of non-whites by over-representing minorities as the assailants in violent crime. These types of practices are clearly detrimental to the advancement of those who have been handicapped by the ignorance of the past. In the first part of the paper we examine the effects of the rise of local news, charting specific studies†¦show more content†¦Despite the fact that television is still the dominant source, there have been shifts involving the consumption of news programming. There has been a significant fall in the reliance of the networks and their national newscasts for Americas news. Today more people are relying on the reports given by local news programs than on that of the networks. Several surveys have recorded this shift as early as 1993, denoting that much of America cites local news on television as their major source of information. An even stronger argument than media usage surveys is the relative share of viewing audience commanded by either network or local news programs. Based on Nielsen audience ratings from the country’s two largest media markets (Los Angeles and New York), it is clear that the number of Americans who tune in to local news programs on a daily basis far exceeds those who watch national newscasts. Averaging across both markets, the cumulative audience for evening local news easily surpasses the cumulative audience for national news. (Iyengar Reeves, 1997) The immense audiences for local news show basic changes in television programming. All over the country today, local news programs air in the morning, afternoon, evening, prime time arid even late night. The weekly total of hours devoted to local news programming in Los Angeles and New York are 97Show MoreRelatedRacism And The South And Police Brutality1378 Words   |  6 PagesRacism is prejudice plus power (influence, status and authority). It exists in many different forms and in almost every facade of society; from subtle discrimination in everyday life and scandals in politics, to occurrences like lynching’s in the South and Police Brutality. 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Questions On Economics And Finance - 2149 Words

ECON1009 – INTRODUCTORY ECONOMICS AND FINANCE SP2, 2016 Answer ALL the questions, as listed below, following the instructions provided in the Course Outline (Assessment #3 - Take Home Examination, pages 9-10). QUESTION 1 Using appropriate diagrams, discuss how an increase or an improvement in the following non-price determinants of supply would change equilibrium prices and quantities. (a) Technology, (b) Input/resource prices, (c) Taxes and subsidies, and (d) Expectations of producers. (4*5=20 Marks) QUESTION 2 Suppose South Australian consumers’ average incomes increase from $3,000 to $3,400 per month, which then results in an increase in the quantity of smartphones demanded from 15,000 to18,500. You are required to do the following: (a) Calculate the income elasticity of demand (Ey), (b) Interpret the income elasticity of demand coefficient, and (c) Explain whether smartphone is a normal good or a luxury good or an inferior good and why? 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Financial Accounting for Business Cycles

Question: Discuss about the Financial Accounting for Business Cycles. Answer: Introduction The following study evaluates the different concepts of measurement in accounting. In addition, it examines the issues in the measurement of accounting in the context of the global financial crisis. For the purpose of the study, Rio Tinto has been selected. The companys 2106 annual report has been evaluated to understand the issues pertaining to the issues of measurement in accounting. In addition, the various measurement concepts in accounting have been stated in the study. It can be stated that the brand follows the fair value accounting concept that can assist the business entity in the development of the accounting strategies in the global business market. However, in the present global market the historical method as well as the present value method shall assist the management of the business entity in assessing the asset and the liabilities of the business entity . The issues in the measurement shall relate to the non-compliance of the accounting guidelines and the changes in t he accounting methods adopted by the business entity than in the past year. Bull (2014) mentioned that the measurement concepts that are adopted in the business entity in the accounting sector have been related to accounting policies taken by the business entity. In the context of Rio Tinto, the remuneration that has been offered to the employees has to be assessed by the individual companies and this has helped the company to determine its financial policies. However, this has led to issues in accounting measurements in various reputed business units based in Australia. Thus, it becomes necessary to strictly adhere to the accounting guidelines and the framework related to such issues. However, factors like the changes in the market conditions as well as the changes in the accounting methods adopted by the business enterprise can have an impact on measurement of accounting in the business entity . Besides this, the changes in the accounting procedures can hamper the process of assessment and comparison with the past years. Pratt (2013) mentioned that the companies adhering to the IASB/AASB standards have traditionally struggled with the issues of measurement in the context of the accounting. Following are the problems in measurement in the context of the IASB standards and framework. The changes in the market conditions- The changes in the market conditions shall have an impact on the measurement of the IASB standards in the organization. As such, this shall have an impact on the assessment procedures of the organization. Brinca et al. (2016) mentioone The vulnerable market conditions shall relate to the operational policies of the business entity and that shall have an impact on the operational policies of the business entity. As such, this shall have an impact on the operational policies of the business entity. The issues in the measurement of financial policies of the organization shall lead the organization to growth and prosperity in the international market. Changes In The Financial Policies - The changes in the financial policies of the organization shall have an impact on the financial policies of the organization. As such, this shall lead to issues in the operational policies of the organization. In this regard, it can be said that the alterations in the financial strategies in the organization. Changes in The Accounting Method The changes in the accounting method in the organization shall hamper the assessment procedures in the organization. This shall change the procedures and the methods involved in the preparation of the accounts in the organization. Ismail and King (2014) mentioned that the alterations in the accounting procedures in the organization shall hamper the assessment procedure in the organization and therefore assist the business entity in the development of the goals and the objectives of the business entity. Variable expenses - DRURY (2013) stated that the variable expenses of the business entity should differ with each successive years. As such, the changes in the variable expenses of the business entity shall affect the assessment procedures in the organization. The variable expenses of the business entity shall change with the changes in the operational expenses of the business entity. Following are the issues in measurement in the context of the IASB standards. Taxation Procedures Hartman ad Mouritsen (2013) mentioned that Companies operating in different companies are subjected to different taxation procedures and guidelines. As such, the taxation procedures in the organization shall be changed as per the different guidelines in the international market. Thus, the assessment procedures in the organization shall have to be altered as per the needs of the market. Thus, the business entity shall help to develop the uniform taxation procedures that shall assist the business s entity in the correct payment of taxes. According to Holmes (2012), the taxation procedures shall be vastly distinct in different parts .As such , this would hamper the assessment procedures in accounting. Thus, conducting the taxation procedures would have an impact on the operational policies of the business entity. Auditing measurements - The auditing guidelines are different in different countries. As such, the organization shall have to adapt to the business procedures in bringing in transparency as well as authenticity in the financial statements of the organization (Wesfarmers, 2016). Thus, the auditing measurements shall be suited to the country where the country is operating. Thus, the company shall follow the global accounting standards in the organization. According to Scott (2016), the auditing standards that are to be followed in the business entity shall be of assistance to the business entity in reducing the discrepancies in the organization. Thus, the management of the organization shall have to take appropriate measures that shall assist the business entity to make its financial statements more authentic. In the case of Rio Tinto , the brand has been operating in many countries where the auditing guidelines are distinct . This has posted an issue for Rio Tinto regarding the measur ement of the financial reports in the organization. Thus, Rio Tinto has to take in-depth data analysis to present its financial statements in an appropriate manner. According to Kaplan and Atkinson (2015), Rio Tinto has taken pertinent measures to overcome this threat for the business entity. Bad debts It is necessary to identify the amount of bad debts in the taxation procedures of the organization. Thus, this shall assist the business organization to identify the relevant taxation procedures that shall help in the growth and the prosperity of the business entity in the international market. Needles et al. (2013) mentioned that Rio Tinto being a multinational company could have several bad debts in lying in different countries. The bad debts of the organization shall help the business entity in the growth of the business enterprise. In the recent years, Rio Tinto has faced a number of bad debts, which has led to discrepancies in the financial statements of the organization. As such, this has assisted the business entity to develop the financial statements of the business entity as per the goals and the objectives of the business entity Non compliance with the AASB standard Otley and Emmanuel (2013) stated that the non-compliance with the AASB standard should hamper the process s of assessment in the context of the buyers. As such, this would result in measurement issues for the company. In this regard, it can be said that the non-compliance with the IASB standards in the organization would lead to disproportionate allocation of expenses within the business organization In addition this shall lead in discrepancies in the financial statements of the business entity. As such, the non compliance with the financial statements can lead to issues in the financial statements for the business entity. According to Hodgson and Russell, M. (2014), this has been one of the primary causes which has led to measurement issues in accounting. The measurement in accounting depends on two bases that include the choice of the unit of measurement as well as the attribute that is required to be measured. According to Stice and Stice (2013), the accountings concept SAFC 5 confirms those areas. The monitory unit that shall be used in the measurement of the accounting concepts shall have an impact on the operational policies of the business entity. Besides this , the organization have stated that different monitory attributes like historical cost, net realizable value as well as the present value of the future cash flow can be used to measure the financial statements of the business entity . As such, this shall have an impact on the operational strategies of the business entity. In regard to this Deegan (2012) noted that property, plant as well as the equipment are the items that can be assessed at the historical cos. As such, the fair market value shall assist the business enterprise in assessing the financial statements as per the existing market condition. According to Haider (2015), the present value measurements have been in accounting for measurements. As such this is the primary tool through which the measurement in accounting is executed. The present value is the tool of a recent FASB statement. In the present global market , the present value measurements has been used to facilitate organizational changes in the global market . Rankin et al. (2012), the Fair value method is also one of the methods in the measurement of accounting. As such, t the fair value method is an authentic presentation of the measures that can be used in the measurement in accounting. Deegan (2012) stated that the accounting measures should help the business entity in the authentic representation of the financial statements of the organization. In this regard, it can be said that the Fair value, method has been one of the essential procedures that have facilitated financial transparency and growth in the economic condition of the business entity (Wesfarmers, 2016). In this regard, it can be said that the fair value method assesses the financial condition of the business entity in a free and fair manner. The historical value method assesses the financial condition based on the past results. Hopper (2012) mentioned that the historical method of accounting evaluates the price of the asset based on its past value. The historical method of accounting uses the generally accepted accounting principles (GAAP) to evaluate the assets on the basis it was originally acquired. Holmes (2012) noted that entities that use the historical method of accounting shall evaluate the assets on the basis of its originally acquired value, even if such values have changed significantly over a period of time. However, not all assets are assessed at the historical cost. The marketable securities of the company cannot be assessed at the fair value method of the company. In the case of Rio Tinto, such marketable securities are measured at the fair value method. Besides this Gray (2014) noted that Rio Tinto has been following the fair value method in assessing the assets in the organization. Thus, the Assets like building, plant and equipment as well as land are assessed at the market price in the organization. This has assisted the business entity in the development of the goals and the objectives of the business entity. Prodhan (2013) mentioned that the realization accounting principle refers to the accrual accounting model in the preparation of the annual financial statements of the organization. The recognition of revenue in the business entity shall help the business entity to correctly assess the financial position of the business entity. As such , the realizable revenue shall be recognized depending on the following two conditions 1. The earning process shall be processed to be complete 2. The presence of reasonable certainty in the gathering of revenue for the business entity. The realization accounting principle shall help the business enterprise in the authentic recognition of revenue in the organization. This has been an effective tool in the preparation of the accounting statements in the business entity. The revenue shall only be recognized if the financial transactions are fully recorded in the books of the accounts. As such, this shall helop De Simone (2016) mentioned that the Generally Accepted Accounting principles (GAAP) offers the framework through which major business enterprises operating in Australia shall prepare their year ended financial statements As such, this shall help the business entity to prepare authentic financial statements and forecasts the future financial condition of thee business enterprise. In the case of Rio Tinto, the KPIS were used as the measure to assess the remuneration of the executives. As such, this shall help the business entity to determine the operational processes of the business entity. Thus the KPIS has been used as an effective tool for decision making. The KPIS has been an useful tool for the management for the business entity for taking measures that shall be essential for the firm for decision-making. Watts et al. (2014) mentioned that Rio Tinto has been using the usage of KPI shall have an impact on the decision making of the users. This has also assisted the business entity for the assessment of the financial position of the business entity. In this regard, it can be said that the KPI offers the opportunity for the fair comparison of the e= financial statements with the past year. In the case of Rio Tinto there has been a consistency in the assessment procedures of the organization for successive years. As such, this has assisted the business entity in the development of the financial years. Besides this Fuest et al.(2013) noted that Rio Tinto has been constantly monitoring its financials statements to identify any discrepancy that can have an impact on the preparation of the annual reports of the company. The measurements have been effective to determine the financial position of the business entity and respond appropriately for organizational growth. Rio Tinto has been effective in determining the operational policies of the business entity. Ismail and King, (2014), The brand being a multinational corporation shall have to be adjust according to the rules and the regulations of the business enterprise. There has been effective coordination between the operational policies of the business entity to help in the decision-making processes of the business entity. The remuneration policies of the business entity shall have to be established as per the business regulations of the entity. Parker (2014) mentioned that The KPIs have been an essential tool in the measurement of accounting .As such, this shall help the business entity in the development of tools of the business entity. The brand has made efforts to adhere to the IASB and the AASB framework. The operational expenses of the business entity have been stated in the financial statements of the business entity. in the case of Rio Tinto , the accounts are developed and shall adhere to the required guidelines. Conclusion Rio Tinto has been strictly adhering to the AASB/ IASB accounting regulations in the business entity. As such, this has assisted the business enterprise in the development of the accounting statements in a true and fair manner. The brand has been using the KPIS to ensure the assessment of the remuneration policies of the business entity. This has enabled the business entity to develop pre-determined guidelines as per the needs of the business entity. In addition, this shall help the entity to identify any discrepancy in the financial statements of the business enterprise. The fair value, historical method of accounting as well as the present value of the business entity shall assist the business enterprises to facilitate measurement in accounting . As such, this shall help the business. Rio Tinto follows the fair value accounting method in the assessment of the assets and the liabilities of the business entity. The Generally accounting principles (GAAP) have been an effective in determining the financial policies followed in the business enterprise. However, there has been issues s in the measurement if the accounts are prepared as per the AASB/IASB framework. These include the violation of the principle of consistency in the development of the accounts. Thus, this shall prevent the business entity in comparison of the financial statements of the business entity with the past years. Besides this, the non-compliance with the accounting guidelines shall also lead to measurement issues in the business organization. In addition, it can be said that the complexities in the business operations shall lead to the measurement issues for the business enterprise. Apart from these factors, the presence of bad debts and uncertainties in the recognition of revenue for the busines s entity. The brand has faced issues regarding the assessment of the assets in the business organization. References Brinca, P., Chari, V. V., Kehoe, P. J., McGrattan, E. (2016). Accounting for Business Cycles (No. 531). Federal Reserve Bank of Minneapolis. Bull, R. J. (2014). Accounting in business. Butterworth-Heinemann. Cortesi, A., Tettamanzi, P., Scaccabarozzi, U., Spertini, I., Castoldi, S. (2015). Advanced Financial Accounting: Financial Statement AnalysisAccounting IssuesGroup Accounts. EGEA spa. De Simone, L. (2016). Does a common set of accounting standards affect tax-motivated income shifting for multinational firms?. Journal of Accounting and Economics, 61(1), 145-165. Deegan, C. (2012). Australian financial accounting. McGraw-Hill Education Australia. DRURY, C. M. (2013). Management and cost accounting. Springer. Fuest, C., Spengel, C., Finke, K., Heckemeyer, J., Nusser, H. (2013). Profit shifting and'aggressive'tax planning by multinational firms: Issues and options for reform. ZEW-Centre for European Economic Research Discussion Paper, (13-044). Gray, S. J. (Ed.). (2014). International accounting and transnational decisions. Butterworth-Heinemann. Haider, S. (2015). Exploring the Relationship between Changes in Accounting Policies and Valuation of Australian Banking Firms (Doctoral dissertation, Victoria University). Hartmann, B., Mouritsen, J. (2013). Inscribing the future: goodwill accounting at the nexus of financial and management accounting. In 2nd Workshop on Financial Reporting and Auditing as Social and Organizational Practice (pp. 1-43). Hodgson, A., Russell, M. (2014). Comprehending comprehensive income.Australian Accounting Review, 24(2), 100-110. Holmes, K. (2012). 14 Taxation and accounting issues in development policies. Handbook of Accounting and Development, 245. Hopper, T. (2012). Handbook of accounting and development. Edward Elgar Publishing. Ismail, N. A., King, M. (2014). Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms. Journal of Information Systems and Small Business,1(1-2), 1-20. Kaplan, R. S., Atkinson, A. A. (2015). Advanced management accounting. PHI Learning. Needles, B. E., Powers, M., Crosson, S. V. (2013). Principles of accounting. Cengage Learning. Otley, D., Emmanuel, K. M. C. (2013). Readings in accounting for management control. Springer. Parker, R. H. (2014). Some international aspects of accounting. International Accounting and Transnational Decisions, 9. Pratt, J. (2013). Financial accounting in an economic context. Wiley Global Education. Prodhan, B. (2013). Multinational Accounting (RLE Accounting): Segment Disclosure and Risk (Vol. 59). Routledge. Rankin, M., Stanton, P. A., McGowan, S. C., Ferlauto, K., Tilling, M. (2012). Contemporary issues in accounting. John Wiley and Sons Australia, Limited. Scott, P. (2016). Accounting for Business. Oxford University Press. Stice, E. K., Stice, J. D. (2013). Intermediate accounting. Cengage Learning Watts, D., Yapa, P. S., Dellaportas, S. (2014). The case of a newly implemented modern management accounting system in a multinational manufacturing company. Australasian Accounting Business Finance Journal, 8(2), 121. Wesfarmers, (2016). Retrieved 3 September 2016, from https://www.wesfarmers.com.au/docs/default-source/reports/2015-annual-report.pdf

Training for Hrm free essay sample

Topics Employment Laws and Applications Job Analysis and Job Design Planning and Recruiting Selection Orientation and Solicitation Training and Development Evaluating Employee Performance Compensation Administration Incentive and Benefits Administration Labor Unions Negotiation and Collective Bargaining Health, Safety, and Appease Turnover, Discipline, and Exits Social Responsibility and Ethics Course Goals/Objectives The objectives for this course are to develop the participants appreciation and understanding of the role of Human Resource Management in the hospitality industry and to recognize the issues faced by Human Resource managers in recruiting, motivating and retaining employees. Program Goals This course fits into the overall program by covering a key component of the hospitality industry; the role of Human Resources in Hospitality, Recreation and Resorts.Human Resource managers are often called upon to use critical honking to resolve the many issues that arise relative to a diversified workforce. Managers often face issues relative to ethics, labor laws, discrimination, and benefits coordination and must be able to communicate and collaborate effectively with others in order to perform their duties. We will write a custom essay sample on Training for Hrm or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Human Resource managers must also stay abreast of the latest trends by researching and comparing benefits that are being offered in other industries. Defending the decisions they make relative to employees, benefits, and enforcing rules and regulations is a normal part of their responsibilities. Students taking this course will be exposed to the kinds of decisions that managers are often called upon to make in this area of hospitality.Student Learning Outcomes (Solo) As an outcome of this course each student should have acquired the knowledge, comprehension and skills needed to complete the following student learning objectives: 1 . Describe the EEOC, distinguish between EYE laws and affirmative action, and list major areas of EYE abuse and litigation. 2. Explain the importance Of job analysis and describe how the results of job analysis are used in job descriptions and job specifications. 3. Explain and apply methods for forecasting labor demand, and identify the advantages and disadvantages of internal and external recruiting. 4. Describe the importance of the selection process, and identify the types of selection errors and biases managers must overcome when interviewing job applicants. 5.Explain the purpose of an orientation program, explain the importance of a solicitation program, and distinguish between a general property orientation and a specific job orientation. 6. Identify and describe the stages of the training cycle, and explain how a training needs assessment is developed and conducted. 7. Describe the functions of performance appraisals, and identify the principal types of rating systems used in appraising performance. 8. Describe types of compensation, and outline the major influences on compensation plans. 9. Outline the steps and identify options for establishing pay structures. 10. Summarize current issues in compensation administration. 11. Identify the characteristics and advantages of effective incentive programs. 12.Describe four general categories of employee benefits and several factors to consider when developing benefit plans. 13. Outline the reasons employees join unions, analyze statistics of union membership, and describe how unions are adapting as they look to the future. 14. Identify mandatory, voluntary, and illegal collective bargaining issues and common economic and non-economic reasons behind bargaining. 15. Describe how managers should prepare for collective bargaining choose a negotiating team, and select a bargaining strategy. 16. Summarize the history, scope, and goal of the Occupational Safety and Health Act, and describe the enforcement of OSHA standards and requirements. 17. Final Grade Determination -Scores will be weighted based on 100% Quizzes 130% Class Participation I Individual Project Group Project Weekly Assignments Assessment 115% I 115% Five Quizzes comprised of multiple choice and true and false questions will be given based on reading assignments from the text book. Quiz questions are directly tied to a competency that is identified in the course. Quiz dates are listed online under each weeks assignments. Please plan ahead the quizzes can only be taken during the time frame allotted which is Monday AM through Wednesdays MOM. Class participation will be measured by the quality ND content of a students contribution to weekly discussions and completion of assignments.Students are required to post (participate) at least three times in every discussion this should include at least one comment on another students posting. A grading rubric will be used and is posted under the content tab. Two projects, one individual and one group will be determined during the first two weeks of the course. Both of these projects will be based on students being able to demonstrate their knowledge, comprehension and skills covering a range of competencies outlined on the Curriculum Map. A grading fabric will be used. Weekly Assignments covering vocabulary and case studies will be assessed for content, accuracy, and critical thinking. A drop box will be set up for each weekly assignment.Please refer to the EWE Student Handbook for a list of behaviors that fall under the definition of academic misconduct. The handbook also outlines the penalties for academic misconduct and the due process procedures that must be followed. The Student Code of Conduct is posted at the following URL: http:// UHF. Deed/soar/ The LIFE Academic Misconduct Policy is posted at the following URL: http://UHF. Deed/academic/policies/misconduct/misconduct. CFML Additional Information on Plagiarism Your writing is your intellectual property. Guard it carefully. You could find yourself in the unpleasant position of trying to prove that you are the true author of this work.Save preliminary drafts of your work, reading notes, data collection sheets, and copies of library sources you make while researching your paper. You may be asked to produce these if questions of authorship arise. Make back-up copies to protect your work from computer failures. Your Instructor reserves the right to submit written assignments to the Turning service or use other methods to evaluate the originality of the work submitted. Your Instructor will remove personal identifiers from any electronic files I submit to the Turning database for evaluation. Plagiarism is a serious violation of academic standards and will be punished severely.

Beyond Pythagoras Essay Example

Beyond Pythagoras Essay Example Beyond Pythagoras Essay Beyond Pythagoras Essay Mathematics Coursework BEYOND PYTHAGORAS By Asif Azam 1) The numbers 3, 4, and 5 satisfy the condition 3à ¯Ã‚ ¿Ã‚ ½ + 4à ¯Ã‚ ¿Ã‚ ½ = 5à ¯Ã‚ ¿Ã‚ ½ because 3à ¯Ã‚ ¿Ã‚ ½ = 33 =9 4à ¯Ã‚ ¿Ã‚ ½ = 44 = 16 5à ¯Ã‚ ¿Ã‚ ½ = 55 = 25 and so 3à ¯Ã‚ ¿Ã‚ ½ + 4à ¯Ã‚ ¿Ã‚ ½ = 9 + 16 = 25 = 5à ¯Ã‚ ¿Ã‚ ½ I will now have to find out if the following sets of numbers satisfy a similar condition of (smallest number) à ¯Ã‚ ¿Ã‚ ½ + (middle number) à ¯Ã‚ ¿Ã‚ ½ = (largest number) à ¯Ã‚ ¿Ã‚ ½. a) 5, 12, 13 5à ¯Ã‚ ¿Ã‚ ½ + 12à ¯Ã‚ ¿Ã‚ ½ = 25 + 144 = 169 = 13à ¯Ã‚ ¿Ã‚ ½ b) 7, 24, 25 7à ¯Ã‚ ¿Ã‚ ½ + 24à ¯Ã‚ ¿Ã‚ ½ = 49 + 576 = 625 = 25à ¯Ã‚ ¿Ã‚ ½ 2) Perimeter 5 5 + 12 + 13 = 20 12 studentcentral.co.uk 7 7 + 24 + 25 = 56 24 wwfe few stfefeud efe fent cfe enfetral fecofe uk: b) Nth term Length of shortest side Length of middle side wwdd ddw stddddud edd ddnt cdd enddtral ddcodd uk. Length of longest side Perimeter Area +2 +1 1 wwbf bfw stbfbfud ebf bfnt cbf enbftral bfcobf uk. 3 4 5 12 6 2 5 12 13 30 30 +2 3 7 24 25 56 84 4 wwef efw stefefud eef efnt cef eneftral efcoef uk; 9 40 41 90 180 +2 5 11 60 61 132 330 +2 6 13 84 Tochv8Ey Visit studentcentral cb co cb uk cb for more cb Do not cb redistribute Tochv8Ey 85 182 546 7 15 112 113 240 840 +2 8 17 144 145 306 1224 9 19 180 181 380 1710 wwdd ddw stddddud edd ddnt cdd enddtral ddcodd uk. 10 21 220 221 462 2310 I looked at the table and noticed that there was only 1 difference between the length of the middle side and the length of the longest side. And also if you can see in the shortest side column, it goes up by 2. I have also noticed that the area is 1/2 (shortest side) x (middle side). 3) In this section I will be working out and finding out the formulas for: * Shortest side * Middle side * Longest side In finding out the formula for the shortest side I predict that the formula will be something to do with the differences between the lengths (which is 2). But I dont know the formula so I will have to work that out. wwfe few stfefeud efe fent cfe enfetral fecofe uk. Firstly I will be finding out the formula for the shortest side. 3 5 7 9 11 2 2 2 2 The differences between the lengths of the shortest side are 2. This means the equation must be something to do with 2n. Lets see Nth term Length of shortest side 1 3 2n 2 x 1 = 2 (wrong) There is only a difference of +1 between 2n and the shortest side, so this means the formula should be 2n+1. To see if Im correct I will now test this formula. 2n+1 Nth term Length of shortest side 1 3 21+1=3 (correct) Just in case I will test this formula in the next term: 2n+1 Nth term Length of shortest side 2 5 22=4 4+1=5 (correct) I now have to work out the formula for the middle side. I predict that the formula has got to do with something about the differences in lengths. (For instance in this case is 4), most likely 4n.However, because 4 is the difference, the formula must be nà ¯Ã‚ ¿Ã‚ ½. I now believe that the answer will have something to do with 4nà ¯Ã‚ ¿Ã‚ ½. So, I will now write the answers for 4nà ¯Ã‚ ¿Ã‚ ½. This coursework from www.studentcentral.co.uk (studentcentral.co.uk/coursework/essays/2255.html) Reproduction or retransmission in whole or in part expressly prohibited 4nà ¯Ã‚ ¿Ã‚ ½ work for the first term, but, it then collapses after this, as the difference between 4nà ¯Ã‚ ¿Ã‚ ½ gets larger, the thing you notice is that the difference in the 2nd term between 4nà ¯Ã‚ ¿Ã‚ ½ and the middle side is the middle side for the term before. This goes for all the other terms from the 2nd. This means that if I subtract the previous term, then I should in theory get the correct answer. 16-4 = 12 36-12 = 24 64-24 = 40 Etc. So, the equation I have so far is: 4nà ¯Ã‚ ¿Ã‚ ½- (previous middle side) = middle side All the previous terms is, (n 1), so if I put this into the above formula, then it should give me my middle side. 4nà ¯Ã‚ ¿Ã‚ ½ 4(1-1) à ¯Ã‚ ¿Ã‚ ½ = middle side This should in theory give me my middle side. I will test my theory with the first term. wweb ebw stebebud eeb ebnt ceb enebtral ebcoeb uk; 4 x 12 4(1-1) = 4 4 x 1 4 x 0à ¯Ã‚ ¿Ã‚ ½ = 4 4 4 x 0 = 4 4 0 = 4 4 = 4 My formula works for the first term. I will now check if this formula works for the next term. 4 x 2à ¯Ã‚ ¿Ã‚ ½ 4(2 1) à ¯Ã‚ ¿Ã‚ ½ = 12 4 x 4 4 x 1à ¯Ã‚ ¿Ã‚ ½ = 12 16 4 x 1 = 12 16 4 = 12 12 = 12 My formula also works for the 2nd term. You may be thinking that this is the correct formula but just to check, I will check this formula for the 3rd term. 4 x 3à ¯Ã‚ ¿Ã‚ ½ 4(3-1) à ¯Ã‚ ¿Ã‚ ½ = 24 4 x 4 4 x 2à ¯Ã‚ ¿Ã‚ ½ = 24 36 4 x 4 = 24 36 16 = 24 20 = 24 My formula did not work for the 3rd term. It now looks as if 4nà ¯Ã‚ ¿Ã‚ ½ 4(n 1) à ¯Ã‚ ¿Ã‚ ½ is not the correct formula after all. To check, I will look to see if the formula works using the 4th term. 4 x 4à ¯Ã‚ ¿Ã‚ ½ 4(4 1) à ¯Ã‚ ¿Ã‚ ½ = 40 4 x 16 4 x 3à ¯Ã‚ ¿Ã‚ ½ = 40 64 36 = 40 wwdb dbw stdbdbud edb dbnt cdb endbtral dbcodb uk. 28 = 40 My formula doesnt work for the 4th term either. I can now safely say that 4nà ¯Ã‚ ¿Ã‚ ½ 4(n 1) à ¯Ã‚ ¿Ã‚ ½ is definitely not the correct formula for the middle side. I believe the problem with 4nà ¯Ã‚ ¿Ã‚ ½ 4(n 1) was that 4nà ¯Ã‚ ¿Ã‚ ½, once you start using the larger numbers, it becomes far too high to bring it back down to the number I want for the middle side. Also, 4(n 1) à ¯Ã‚ ¿Ã‚ ½ is not as small when it gets larger so it doesnt bring the 4nà ¯Ã‚ ¿Ã‚ ½ down enough, to equal the middle side. I will now look at the difference to see if I can find a pattern there. 1 4 11 20 31 3 7 9 11 2 2 2 The difference here is 2, which means that the answer will involve 2 and nà ¯Ã‚ ¿Ã‚ ½. I will try 2nà ¯Ã‚ ¿Ã‚ ½. I can see that the difference between 2nà ¯Ã‚ ¿Ã‚ ½ and the middle number is the 2 times table. The 2 times table in the nth term is 2n. I now think 2nà ¯Ã‚ ¿Ã‚ ½ + 2n is the correct formula. I will now test it using the first three terms. 2 x 1à ¯Ã‚ ¿Ã‚ ½ + 2 x 1 = 4 2 x 1 + 2 = 4 2 + 2 = 4 4 = 4 My formula works for the first term; so, I will now check it in the next term. 2 x 2à ¯Ã‚ ¿Ã‚ ½ + 2 x 2 = 12 2 x 4 + 4 = 12 8 + 4 = 12 12 = 12 My formula works for the 2nd term. If it works for the 3rd term I can safely say that 2nà ¯Ã‚ ¿Ã‚ ½ + 2n is the correct formula. 2 x 3à ¯Ã‚ ¿Ã‚ ½ + 2 x 3 = 24 2 x 9 + 6 = 24 18 + 6 = 24 24 = 24 My formula also works for the 3rd term. I am now certain that 2nà ¯Ã‚ ¿Ã‚ ½ + 2n is the correct formula for finding the middle side. Middle side = 2nà ¯Ã‚ ¿Ã‚ ½ + 2n I now have the much easier task of finding a formula for the longest side. To start with, I am going to draw out a table containing the middle and longest sides. from www.studentcentral.co.uk Length of middle side Length of longest side +1 4 5 12 13 24 25 40 41 60 61 84 85 112 wwfa faw stfafaud efa fant cfa enfatral facofa uk. 113 144 145 180 181 220 221 From this table I know that there is only one difference, which is +1 between the middle and longest side. So: (Middle side) + 1 = longest side I predict that this formula will be the correct one for the longest side: 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 = longest side. wwbg bgw stbgbgud ebg bgnt cbg enbgtral bgcobg uk. I am very certain that this is the correct formula. I will check anyway using the first three terms: 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 = 5 2 x 1à ¯Ã‚ ¿Ã‚ ½ + 2 x 1 + 1 = 5 2 + 2 + 1 = 5 5 = 5 The formula works for the first term. 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 = 25 2 x 3à ¯Ã‚ ¿Ã‚ ½ + 2 x 3 + 1 = 25 18 + 6 + 1 = 25 wwcf cfw stcfcfud ecf cfnt ccf encftral cfcocf uk! 25 = 25 The formula also works for the second term 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 = 13 2 x 2à ¯Ã‚ ¿Ã‚ ½ + 2 x 2 + 1 = 13 8 + 4 + 1 = 13 13 = 13 The formula works for all three terms. So Longest side = 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 Now I will check that: 2n + 1 2nà ¯Ã‚ ¿Ã‚ ½ + 2n and 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 Form a Pythagorean triple or in other words aà ¯Ã‚ ¿Ã‚ ½ + bà ¯Ã‚ ¿Ã‚ ½ = cà ¯Ã‚ ¿Ã‚ ½ aà ¯Ã‚ ¿Ã‚ ½ + bà ¯Ã‚ ¿Ã‚ ½ = cà ¯Ã‚ ¿Ã‚ ½ This equals: (2n + 1) à ¯Ã‚ ¿Ã‚ ½ + (2nà ¯Ã‚ ¿Ã‚ ½ + 2n) à ¯Ã‚ ¿Ã‚ ½ = (2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1) à ¯Ã‚ ¿Ã‚ ½ If you then put these equations into brackets: (2n + 1)(2n + 1) + (2nà ¯Ã‚ ¿Ã‚ ½ + 2n)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n) = (2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1) If I work out this equation out by balancing them in each side and I end up with nothing, then 2n + 1, 2nà ¯Ã‚ ¿Ã‚ ½ + 2n and 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 is a Pythagorean triple. 4nà ¯Ã‚ ¿Ã‚ ½ + 4nà ¯Ã‚ ¿Ã‚ ½ = 4nà ¯Ã‚ ¿Ã‚ ½ + 2nà ¯Ã‚ ¿Ã‚ ½ + 2nà ¯Ã‚ ¿Ã‚ ½ 4n = 2n + 2n 8nà ¯Ã‚ ¿Ã‚ ½ = 4nà ¯Ã‚ ¿Ã‚ ½ + 4nà ¯Ã‚ ¿Ã‚ ½ 4n = 4n 1 = 1 I now end up with 0 = 0, so 2n + 1, 2nà ¯Ã‚ ¿Ã‚ ½ + 2n and 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 is a Pythagorean triple. I now have the nth term for each of the three sides of a right-angled triangle. I can now work out, both, the nth term for the perimeter and the nth term for the area. The perimeter of any triangle is just the length of the 3 sides added together. E.g. 1st term 3 + 4 + 5 = 12 So 12 is the perimeter for the first term 2nd term 5 + 12 + 13 = 30 3rd term 7 + 24 + 25 = 56 And so on. All I have to do is put all the 3 formulas together. Perimeter = (shortest side) + (middle side) + (longest side) f0KAU1K from f0KAU1K student f0KAU1K central f0KAU1K co f0KAU1K uk = 2n + 1 + 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 1 = 2nà ¯Ã‚ ¿Ã‚ ½ + 2nà ¯Ã‚ ¿Ã‚ ½ + 2n + 2n + 2n + 1 + 1 = 4nà ¯Ã‚ ¿Ã‚ ½ + 6n + 2 If I have done my calculations properly then I should have the right answer. To check this I am going use the 4th, 5th and 6th terms. 4th term: 4nà ¯Ã‚ ¿Ã‚ ½ + 6nà ¯Ã‚ ¿Ã‚ ½ + 2 = perimeter 4 x 4à ¯Ã‚ ¿Ã‚ ½ + 6 x 4 + 2 = 9 + 40 + 41 64 + 24 + 2 = 90 90 = 90 It works for the 4th term Lets see if it works for the 5th term: 4nà ¯Ã‚ ¿Ã‚ ½ + 6nà ¯Ã‚ ¿Ã‚ ½ + 2 = perimeter 4 x 5à ¯Ã‚ ¿Ã‚ ½ + 6 x 2 = 11 + 60 + 61 100 + 30 + 2 = 132 132 = 132 And it works for the 5th term And finally the 6th term: 4nà ¯Ã‚ ¿Ã‚ ½ + 6nà ¯Ã‚ ¿Ã‚ ½ + 2 = perimeter 4 x 6à ¯Ã‚ ¿Ã‚ ½ + 6 x 6 + 2 = 13 + 84 + 85 144 + 36 + 2 = 182 182 = 182 It works for all the terms so: Perimeter = 4nà ¯Ã‚ ¿Ã‚ ½ + 6n + 2 wwed edw stededud eed ednt ced enedtral edcoed uk! Like the area I know that the area of a triangle is found by: Area = 1/2 (b x h) b = base h = height Depending on which way the right angled triangle is the shortest or middle side can either be the base or height because it doesnt really matter which way round they go, as Ill get the same answer either way. Area = 1/2 (shortest side) X (middle side) = 1/2 (2n + 1) x (2nà ¯Ã‚ ¿Ã‚ ½ + 2n) = (2n + 1)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n) I will check this formula on the first two terms: (2n + 1)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n) = 1/2 (b x h) (2 x 1 + 1)(2 x 1à ¯Ã‚ ¿Ã‚ ½ + 2 x 1) = 1/2 x 3 x 4 3 x 4 = 1/2 x 12 12 = 6 6 = 6 2nd term: (2n + 1)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n) = 1/2 b h (2 x 2 + 1)(2 x 2à ¯Ã‚ ¿Ã‚ ½ + 2 x 2) = 1/2 x 5 x 12 5 x 12 = 1/2 x 60 60 = 30 30 = 30 It works for both of the terms. This means: Area = (2n + 1)(2nà ¯Ã‚ ¿Ã‚ ½ + 2n)

Human Resource Planning Essay Example | Topics and Well Written Essays - 750 words

Human Resource Planning - Essay Example At the moment, the organization needs to hire competent individuals that are capable of providing the services. The problem of limited cash flows is affecting the recruitment process; the company simply cannot pay for quality services. In the coming years, the organization will be in dire need of individuals that are capable of promoting the company’s image to attract more donors. Currently, the cash flows are dwindling, and it is negatively effecting everything that the company does. The company needs healthy donations to effectively run its operations. Relying solely on volunteers is harmful to ‘going concern’ of the company. First and foremost, Juanita needs to get her authority, and power expanded. Without the power to effectively manage people and resources she will remain ineffective, and the company will never get out of hot waters. Juanita is already on the right track. Instead of making frequent appointments, she has setup her group over the email, and she is in touch with them. Juanita is new, and she is learning more about the company every day. The first step is obviously meeting the company personnel and assuring them that the HR manager is there to help achieve better results for the company. The first step towards improving employee performance is to cut the dead weight. Juanita did her research and found that there are people in the company who do not have any significant work, but they are still getting the paychecks. If the company carries on the same pattern it will have ripple effects as others will see that idlers are getting paid for doing nothing so why should they work so hard. Second, the company needs to formulate its HR policy exactly according to the laws that apply to a Non for Profit organization. This will help promote the better image of the company as new recruits will notice that the company operates in accordance with

The Key Concepts in economics Assignment Example | Topics and Well Written Essays - 750 words

The Key Concepts in economics - Assignment Example The main points included in the article (Porter, 2015a) are; 4. The innovation through government and corporate funded R&D have generated large revenue streams. However, the beneficiary organizations have not shared the funding bodies in profits and reinvestment in R&D has been limited. 5. Since corporations are moving away from research spending, they tend to buy innovative start-ups from small businesses. Scientists and universities have also been encouraged to commercialize innovation funded by taxpayer’s money (Porter, 2015a). Investment in R&D sector powers technological innovation, which helps to optimize the use of existing resources and capabilities, creates jobs and improves living standards. It enables sustainable economic growth provided that there are constant returns to the R&D sector. Innovation through research and development therefore has a positive correlation with per capita GDP in both the developing and developed worlds. However, it has been found that large markets encourage innovation through R&D, while the rest benefit from their knowledge stock and spill-over (Ulku, 2004). This allows emerging markets to grow faster by embracing existing technologies, while developed markets experience periods of stagnation due to foreign competition and limited funding directed towards R&D. The ever increasing restrictions on economic activities, such as environmental protection regulations, in the developed world also slows down the progress in terms of GDP. However, aside from poor regulations whic h can lead to additional costs in R&D, many regulations are aimed at social welfare initiatives usually not captured in the GDP measurements. Thus, the GDP growth figures in such contexts can often be misleading (The Economist, 2013a). The innovation driven boom and bust may remain invisible in GDP measurements and sometimes even reveals its shrinking. For instance, the spending of a person on telephone calls

The City of London Essay Example for Free

The City of London Essay London is the capital city of United kingdom and it is considered as the chief city of British Commonwealth. It is considered one of the greatest and oldest centers of finance, industry and culture in the world. The city is also one of the largest in the world (How stuff works, par 1). It is preparing to host 2016 World Cup and for that matter, it is crucial to know what is behind the magnificent city of London. This essay seeks to explore on aspects that characterize the city right from its geography, history, culture and political jurisdiction. London is located at latitude 51.30’ north and longitude 0. 70 west. It is situated in Lambeth; south East of England in United Kingdom (Maplandia, par 1). The city is 2. 6 square kilometers (Easy expert, par 2). It also lies on the Thames river about 40 miles from the North Sea (How stuff works, par 2). Roughly, the river divides the city into two equal parts and it is on two hills on the bank north of Thames (How stuff works, par 2-3) . The river’s embankments are in central London. Along the great bend of the river, is the Victoria embankment. Other embankments include the Albert and Chelsea which are further upstream. This river is characterized by great bridges for example, Tower, London, Westminster and waterloo bridges (How stuff works 1, par 7). Geographical Features London has so many natural areas throughout the city. For example Meadows such as Kellaly; forests such as Meadow lily woods and Medway valley heritage forest; Wetlands like Westminster ponds among others. Moreover, it also harbors 22 kilometers paved paths for bikes along the Thames River (Tourism London All, par 1). Political jurisdiction The corporation of London is the one that administers the city headed by the Lord Mayor. The Greater London has 33 boroughs with the inner one having 14 and the outer London having 19 boroughs. The greater London has an elected mayor with an assembly and it is also the administrative entity in England (Britannica Encyclopedia, par 2). The city is governed following feudal system of government. The body that is involved with decision making is the court of common council which has 100 members who are elected directly from 25 wards in the city. This council meets every four weeks but committees meet more regularly. They have committees concerned with finance, education, policy and resources, planning and transportation. Some committees have members who have no voting rights in the corporation and are members because of their specialist expertise. The overall leader is the historic Lord mayor but the policy and resources committee’s chairman represents the body to the media (Stevens, par 6-7). The representatives of the boroughs form the assembly of the great London which boasts of its own constitution (Easy expert, par. 2). For one to be eligible for elections, he or she must be a free man in the city. Elections are not based on political parties. There is also the court of Aldermen where each ward elects one Alderman adding up to 25 Aldermen. The office of the Aldermen has diminished significance and today, they just discharge judicial function as magistrates and are also allowed to sit in the court of common council’s committees with no allowances (Stevens, par 10). Origins of This Great City The origin of London can be dated back to 43 AD. Before Romans invaded the land, no permanent settlement existed but only River Thames flowing surrounded by small islands of gravel and sand. When comparing the population of mosquitoes and people, the former were many (Britain express, par 1). London has been inhabited for more than 5000 years but it was only characterized by marshes and forests instead of a city. The city itself was started by Romans about 2000 yeas ago but originally, they called it Londinium. During the invasion, they landed in Kent and passed through River Thames sailing upwards. They knew the strategic importance of the river in controlling the crossing point at the river. So, they built on the north bank, a settlement. They carefully chose two spots in two hills, which were small and where the river was narrowing, and built a bridge. This is the London Bridge that is known today. They brought up buildings, a port and streets and they named the settlement Londinium which became the capital city of the Roman Britain (Barrow, par 2-3). The original London could only last for several years, little more than 10, and the ships could reach there making the city to become a trading center (museum of London, par 4-5). The bridge was very significant as it was the center for the road networks that sprung up from the crossing place, and thus it allowed the movement of the troops to be fast (Britain Express, par 4). The city later grew into a great trading center and by the second century AD, in the middle, the city had the largest town hall, a temple, and a governor’s palace among others. The Romans built a wall around 200 AD, surrounding the city and this defined the shape and size of London over a millennium. The area which was surrounded by the wall, is the one that is called ‘The city† (Britain Express, par 7-9). Urban And Street Patterns Prior to World War 2, London was characterized by very few buildings which were more that 6 stories high but today, the buildings with 20 stories and above can be found, for example, the towers of Barbican are 40 stories and above. The tower of Canary Wharf rising 80 stories and an office building, east of central London in the dockyards is the longest structure in Britain rising 800 feet high. The square of Trafalgar is in the west of the city, near the Thames River. Two large fountains can be found in the square and Admiral Lord Nelson’s statue; this square has been used mostly for celebrations in the city (How stuff works 1, par 7-9). The London streets follow bends and twists of the river and the Roman walls which have long disappeared. The current through ways came originally from the village lanes that existed there before. Strangers get confused most of the time because, these streets may have their names put in different places. One name may be found on one side of a street inter-section or a square and the other one will be found on other side. Contrary to streets in America, London roads have no numbering system which is logical and this makes it difficult to navigate through the streets. To learn the routes will take sometime (Geographers A-Z Map Company, par 1). When it comes to transportation system, it mainly consists of bus lines, surface and underground railways. The main railway stations include: Charing Cross, Waterloo, Paddington and Victoria lines. Two fifths of the city’s railway system covering 250 miles, is made up of London subways. The underground system is made of brick tunnels below the surface. The First line was made in the year 1863 but later, so many of them developed, built in deep tunnels lined with metals which are often called tubes. London boasts of three international airports and these include: Heathrow and Gatwick which is adjacent to the main railway line from London to Brighton. The third one is Stansted which is in the north east of the city (How stuff works, par 1-3). The London’s tower is a complex of buildings sitting on an 18-acre land. The walls and the grounds are on the Thames River, east side of the city. Mostly, the crown jewels are usually on display here. Yeomen warders in uniforms dating back to 16th century are usually used to guide visitors around the complex. Next to it is the mansion house which has been in existence since the 16th century and this is the place where the Lord Mayor of the city resides. North of this house stands Guildhall which was put up in the 15th century (How stuff works 5). South west London, rises a cathedral called St. Paul’s which was designed by Sir Christopher Wren. This church is among the largest in the world. The duke of Wellington and Lord Nelson are buried there. On the west side of the cathedral, there is a street called Fleet Street which was once, the center of newspaper publishing in Britain (How stuff works 4, par 2-5). Just next to it is the knights’ templar medieval headquarters which also harbors the courts’ inns, law schools and legal associations. The Fleet Street merges forming a strand which leads to the west and Westminster. Buckingham palace is situated in this place and it hosts the London sovereigns. Westminster Abbey is also found there and this is where the monarchs are crowned. 8 acres of land around this place is covered with the parliament building and one thing that distinguishes it from other buildings it is its famous clock tower, the clock having a bell called â€Å"the Big Ben†. The Lambeth place is just across Thames from the parliament and this is where the Arch bishop of Canterbury resides (How stuff works 4, par 2-5). White Wall is found between the parliament and the square of Trafalgar . White Wall is a street which is bordered by government buildings. Another one is called Number 10 Downing Street found in the west of the White Wall and it is the prime minister’s home. The district of West end theatre is also found there between Piccadilly Circus and Trafalgar square and it is London’s world renowned theatre district which harbors more than a 100 theatres. Soho is also found in the North and it is known for its famous foreign restaurants and entertainment sites. Mayfair is found in the west characterized by residential areas, hotels, department stores and embassies, which include the US embassy that is found on the Grosvenor square (How stuff works, 5). West end hosts London largest parks. Regents Park can be sighted there and it is on 472 acres of land. It has a lake, open air theatre, a rose garden and the London zoo. Another park, Hyde Park is also found there. It sits on a piece of land of 360 acres which includes a lake called Serpentine. Marble Arch and bridle path which is called Rotten Row . The speakers’ corner is also found there. Kensington gardens with 275 acres of land adjoin Hyde Park on the west and this is where Kensington palace can be sighted which also hosts the Albert memorial and Peter pan’s statue. Short distance towards west of central London, botanic gardens of the royalty can also be found especially in Kew (How stuff works 5). Major Buildings And Landmarks In London The first major building in city is the tower of London, a prominent building for over 900 years and attracting tourists from all over the globe. The tower serves the royalties as a palace and a fortress. Ironically, it is also a place where executions take place and jailing of law defaulters. Royal mint, arsenal, menagerie and jewel house are also found here (Barrow, par 1). One of the oldest buildings and the most important centers for religion is the Westminster Abbey. This palace has been used to burry so many queens and kings and there commemoration ceremonies are usually done there. It was founded by Edward the confessor who was later made a saint. Parliament houses are also found in the palace of Westminster. Buckingham palace has 600 rooms and it is surrounded by a 40-acre garden with 40,000 tulips (Barrow, par 6-10). The Canary Wharf is the tallest building and it is part of the dock lands in London. The Canary is estimated to be 244 meters high and stainless steel has been used o cover it. Another major building is St Paul Cathedral which was built 604 AD but it was later re-built twice after being burnt down twice. The current one was built in 1675 and 1711 . The other monument is the O2 millennium dome which is the largest one in the world covering 180 acres with 320m diameter and the height of 50 m. It also has support towers of about 100 m high. It was built to commemorate the new millennium and it sits on the Greenwich meridian, longitude 0 degrees. Another one is the London eye. It is one of the London’s modern landmarks, made up of the biggest ferries wheel in the world and it can carry passengers of about 800 in number at a time. Its highest point is about 450 feet and it provides a view that goes covers 25 miles (Barrow, par 10-18). In addition, 30 St Mary Axe was opened in 2004 and it was known as Gherkin because of its oval shape. It is very visible especially when traveling from different places into London. The outside of the building is made of 24,000 m square glass whish has been arranged in panes that are diamond shaped. Other monuments include the monument of Trafalgar square which was put up in commemoration of the great fire of London which happened in 1666; the tower is 62 meters high. It is just next to Pudding lane where the fire began in the bakers shop. It is also characterized by 311 stairs to the top and one can use it to view London (Barrow, par 18-24). Other buildings include: One Canada square, Tower 42, Millban tower, St. Paul’s cathedral, Tate modern, St. Pancras chambers, Royal courts of justice, St. Brides church, BT tower, Wembley stadium, Centre point, the Lloyd’s building, Westminster cathedral, the Ark and Christ Church Spitalfields (Emporis Corporation, par 1). London Industries London’s industries form the crucial part of the economy. The industries come in form of manufacturing, aircraft, ship building, and food processing including the chemical industries, offering employment to so many people. These industries comprise of both small and large scale industries and mostly, different business communities are involved in boosting the growth of these industries though the manufacturing one is the largest sector of London’s economy (Maps of world, par. 1-2). Of all the laborers in London, 16% are found in the manufacturing industry. The leading industries in London include: chemical, electronics, cable manufacture, food processing, vehicle manufacture, and ship and aircraft building. The names associated with aircraft industry include Sopwith Aviation Company, Fairey aviation, Handley Page, Green Engine Co. and Lucas Rotax among others (Maps of World, par 3-4). Vehicle industry is one of the most recognized industries in London and it is associated with companies such as Ford of Britain, Dagenham, Park ward, Power Drives among others. Those companies that deal with cable manufacturing include: British Insulated Callender’s cables, Siemens, North and Woolwich among others. Food processing is associated with companies such as Pura Foods, Park Royal, The Smith’s Snack Food company and the list is endless (Maps of World, par. 4-7). When it comes to ship building, the companies include; Woolwich Dock Yard, Samuda Brothers, Scott Russell and so on. Companies associated with chemical manufacturing are; Hackney Wick, Liford photo, Sir William Henry Parking etc. Lastly, is the electronics industry which is associated with companies such as Ferguson Electronics Racal, Plessey, Bush Radio and so on (Maps of World, par. 7-10). These companies vary in the number of the workers employed by each. This is given below in percentages: Manufacturing 16. 2%, trade 14. 7%, educational services 9. 7%, health care and social assistance 13. 5%. Accommodation and food services 5. 8%, finance and insurance, real estate and leasing 7. 3%, agriculture 1. 8%, transport and ware housing 3. 8%. Public administration 3. 0%, construction 4. 7%, business building 4. 8%, information, culture and recreation 4. 2 % and lastly, professional, scientific and technical services 5. 7%. Other industries which are not included amount to 4. 0%. All these companies are under the administration of London chamber of commerce and industries (Maps of World, par. 12). Tourism sector The Londoners benefit mostly from tourism especially in regards to economy and social aspects. It boosts employment rates generating huge income. The businesses have also benefited so much. 10% gross value in London is from the sector and it also employs 13 % of all the workers in London. The city has a record of getting tourists from other parts of the world more than New York, Las Vegas and Sydney. It also attracts these tourists more than any European state (Government Office for London, par 3, 4). Tourism sector generates 2 billion pounds yearly in West London; 14. 7 million tourists who make daily trips to the same region and 5. 4 million tourists visit attraction sites in East London yearly (London’s Councils, par 1). Cultural geographical aspects of London London is a diverse cultural centre and an international one for that matter. It harbors so many museums, theatres and art galleries, cinemas which offer entertainment of first class level to 300 nationalities and above. The architecture of this city offers the diversity and the historical buildings. Six of London cultural landmarks include: the tower of London, St . Margaret church, Palace of Westminster and the Westminster Abbey and last but not list, the Maritime Greenwich (Europe Cities, par 1-2). When it comes to language, London is considered a multi lingual city. It has 300 different languages within its boundaries which are often spoken. The city has proven that, compared to Europe and New York, it is the most cosmopolitan city with its internationalism (Buncombe and Mac Arthur, par 2). The most common languages spoken are:English,Bengali,Panjabi,Gujerati,Hindu,Turkish,Arabic,Yorubu,Somali,Cantonese,Greek,Portuguese, French, Spanish, Italian, Vietnamese and the list is endless (Woodlands Junior Academy, par 1). London is characterized by so many events and celebrations each year. Carnaval del pueblo is a Latin American festival which is usually the largest in UK. It is usually held in August. The other one is City of London festival usually held in June and July and it involves celebration of Music, film, architecture and art. Another one is the London Art fair which is usually held every year in the month of January (First for London, par. 1-3). London boat show is also a major event every January. Others include London Marathon, parade, Lords mayor’s show ,Notting hill Carnival , Rise festival, South West Fest, Spitafields Festival, St. Patrick’s Day, Streatham festival, The Great River Race, and the Mayor’s Thames festival (First for London, par. 4-16). In London, the largest religious group is Christianity according to the census that took place in the year 2001. This group consists of 58. 2% of all the religions in London. The city is characterized by three Anglican churches which are: St. Paul’s and Southward cathedrals and also Westminster Abbey which usually hosts the crowning of the king and queen of England (Barrow, par 1). The population of the Jews is concentrated in the city of about 56 % of all the Jews in Great Britain. 52% of all Hindus in Great Britain are found in London and they have built magnificent places of worship which include temples. 38% of all Great Britain’s Muslims also live in London from Bangladesh and Pakistan. 31 % of Sikhs and 36 % Buddhists that are found in country reside in London (Barrow, par 4-7). In conclusion, the factor that makes the city unique is its marvelous architecture which has a historical background. Not so many cites in the world are rich in history and culture as compared to London. Almost all the monuments and buildings have some history behind them and this makes them to be world treasures. More to that, these landmarks have a quality touch on them in that, they are unique in their own way. Right from the foundation of the city to its current state, the history is actually represented in the design and pattern of the city. Work Cited Amazon. Com . A-Z London, 2010. Web. 16 May, 2010, http://www. amazon. com/Z-London-Londons-Selling-Street/dp/0850397529. Barrow, Mandy. Buildings and Landmarks in London. Woodlands, 2010. Web. 16 May, 2010, http://www. woodlands-junior. kent. sch. uk/customs/questions/london/buildings. htm. Barrow, Mandy. The History of London. Woodlands, 2010. Web. 16 May, 2010, http://www. woodlands-junior. kent. sch. uk/customs/questions/london/history. htm. Barrow, Mandy. Religious Groups in London. Woodlands, 2010. Web. 16 May, 2010, http://www. woodlands-junior. kent. sch. uk/customs/questions/london/religion. htm. Britain express. Roman London. Britain Express. Web. May 16, 2010, http://www. britainexpress. com/London/roman-london. htm. Britannica Encyclopedia. Learn More about London. 2010. Web. May 16, 2010, http://www. britannica. com/EBchecked/topic/346821/London. Buncombe, A. and MacArthur, Tessa. London: Multilingual Capital of the World. 29 March, 1999. Web. 16 May, 2010. http://www. phon. ucl. ac. uk/home/estuary/multiling. htm. Easy expert. Geography. Easy Expert, 10 April, 2010. Web. 16 May, 2010, http://www. easyexpat. com/en/london/overview/geography. htm. Emporis Corporation. Famous Buildings of London. 2010. Web. 16 May, 2010, http://www. emporis. com/en/wm/ci/bu/mf/? id=100637. Europe Cities. Culture of London, 2009. Web. 16 May, 2010, http://www. europe-cities. com/en/600/uk_england/london/culture/. First 4 London. Events. Web. 16 May, 2010, http://www. first4london. com/directory/Events/. Government Office for London. Tourism. UK Government, 2009. Web. 16 May, 2010, http://www. gos. gov. uk/gol/Culture_leisure/Tourism/ tourism. How stuff works. General Plan and Description, 2010. Web. 16 May, 2010, http://geography. howstuffworks. com/europe/geography-of-london1. htm. How Stuff Works. Geography of London: Education and culture, 2010. Web. 16 May, 2010, http://geography. howstuffworks. com/europe/geography-of-london5. htm. How stuff Works. Introduction to Geography, 2010. Web. 16 May, 2010, http://geography. howstuffworks. com/europe/geography-of-london. htm. How stuff works. Landmarks and Place of Interest, 2010. Web. 16 May, 2010, http://geography. howstuffworks. com/europe/geography-of-london4. htm. How stuff works. Transportation, 2010. Web. 16 May, 2010,

Politics, Payoffs, and Illegal Immigration Essay -- Essays Papers

Politics, Payoffs, and Illegal Immigration According to the U.S. Immigration and Naturalization Service, from 1993 to 1995 the United States has experienced the largest two year decline in immigration since the years 1930-1932. In 1995 there were 720,461 legal immigrants admitted to our country; some people would make the argument that this is far too many immigrants ( U.S. Immigration and Naturalization Service). It is impossible to clearly define the term "anti-immigration" because it is not a thing, it is a thought, a philosophy, a movement that appears in the abstract. In order to gain a better understanding of anti- immigration, I turned to the Internet. The medium of the Internet provides an accessible forum for the "world community" to express themselves outside the context of any controlling influences. However, deriving a definition of the term anti-immigration by the standards and understanding derived from the Internet becomes very confusing. There are those sites that advocate curtailing of all immigration both le gal and illegal; there are those that simply address the illegal immigration issue, and then there are those that address illegal immigration while at the same time arguing that legal immigration should be cut back--not stopped altogether. Interestingly enough, sites created on the west coast lean heavier on their argument against illegal immigration; the opinions expressed in these sites have an emotional basis. Sites that come from the east coast are more factual, and tend to deal with the immigration policy in its entirety, both legal and illegal. The purpose of this paper is to examine the anti-immigration information as it is presented on the Internet from a logical perspective. Lack of assimilation, dr... ...he links contained in this site are all related to the illegal immigration issue in California, and are peppered with such terminology as: "conflict," "infestation," "hatred," "race war," and "invasion." The site also makes mention of The Federation for Immigration Reform (FAIR) that was discussed earlier in this review, simply stating that FAIR has 70,000 members. There is no constructive information presented in this site, and like "The Daily Bruin," this site serves only to divide and instigate problems, rather than to propose any logical solutions to the perceived problem of immigration. "U.S. Immigration and Naturalization Service : Immigration to the United States in Fiscal Year 1995" (http://www.usdoj.gov/ins/public/stats/115.html) "Immigration law sets double standards for criminals" (Mitchell, Abra 1995) (http://pm.znet.com:80/leland/dec1995/in4-dec.htm)

Children and young peoples work force Essay

Understand what is required for competence in own work role. 1.1 describe the duties and responsibilities of own work.W  hats in the contract  hours Lines of reporting  specific roles and responsibilities (behavioural support, supporting children and young people with special educational needs, supporting be;inhgual children and young people0  compliance with policies and procedures of the setting (behaviour, children and young people protection, health and safety, keeping up to date with changing procedures, keeping up to date with changes to practice). 1.2 explain expectations about own work role as expressed in relevant standards.  standards relevant to own work role, eg national occupational standards for childrena care, learning and development ( NOS CCLD),  national occupational standars for learning, development aqnd support services ( NOS LDSS)  -in relation to own duties and responsibilities eg role to expectations to meet standards eg CCLD 202 help to keep children safe, see more:explain expectations about own work role as expressed in relevant standards CCLD 303 promote childrens development LDSS 320 support the needs of children and young people with additional requirements, GCU 6 reflect on, develop and maintain your practice  course apprenticehsip notes  coursework starter  hayley  rough notes  guidelines  to use for when get stuck  in starter pack LDSS 320 support the needs of children and young people with additional requirements, GCU 6 reflect on, develop and maintain your practice

Marketing Forecasting Techniques Essay Example Pdf - Free Essay Example

Sample details Pages: 15 Words: 4583 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? As the purpose of the company manager is to make their company more profitable and valuable so manager must take a right decision to identify, evaluate and implement as well as estimate the benefits of potential projects that meet or exceed investor expectations. It also estimates that how changes in capital structure, dividend policy and working capital policy will influence shareholder value. How ever the value creation is impossible unless company do appropriate forecasting for the future. Don’t waste time! Our writers will create an original "Marketing Forecasting Techniques Essay Example Pdf" essay for you Create order Financial planning process is a crucial part so there are following forecasting techniques which help manager in decision making One of the most appropriate forecasting method in capital budgeting is estimating future cash flow for a project that enable cost and revenue forecasting for an organisation as well. Capital budgeting tools evaluate expected future cash flows in relation to cash put out today. Cash flow forecasts It is very important task for forecasting cast and revenue for an organisation the final result we obtain are really only as good as the accuracy of our estimate. Because cash, not income is central to all decisions of the firm. We express what every benefits we expect from a project in term of cash flows rather than income. The firm invests cash now in the hope of receiving returns in a greater amount in the future. Only cash receipts can be re invested in the firm or paid to stock holders in the form of dividends. In capital budgeting good guys may get credit, but effecting managers get cash. In setting up cash flows for analysis a computer spread sheet program is invaluable, It allow one to change assumptions and quickly produce a new cash stream. Incremental cash flows For each investment proposal we need to provide information on expected future cash flows on and after text bases. In addition information must be provided on an incremental bases so that we analyze only the difference between the cash flow the firm with and without the project for example if a firm contemplates a new product that is likely too compete with existing product it is not appropriate to express cash flow in term of the estimated sales of the new product. We must take into account some probable cannibalization. Sales forecasts The sales forecasting normally starts with a review of sales during the past five to ten years. Through these past five years historic sales firm can predict its future growth. Once sales have been forecasted, company must forecast future balance sheets and income statements. Analyze the Historical Ratios The objective of historic data is to forecast the future or pro forma financial statement. The percent of sale method assume that costs in a given year will be some specified percentage of that years sales. Thus company begin their analysis by calculating the ratio of costs to sales for several past years. Income Statement forecast For making any decision to invest in any project company forecasts the income statement for the coming year. Income statement forecast is needed to estimate both income and the addition to retained earnings. Balance Sheet forecast The asset shown in the balance sheet must increase if sales are to increase. So on the basis of assets, sales, inventory and receivables ratio analysis company manager make decision for future projects. Financial forecasting generally starts with a forecast of the company sales in terms of both units and dollars (Ref: Eugene F. Brigham, Michael C. Ehrhardt 2008 Business Economics 1071 page, Accessed on 15th May 2010) Either the projected or pro forma, financial statement method can be used to forecast financial requirements. The financial statement method is more reliable and its also provides ratios that can be used to evaluate alternatives business plans. A firm can determine the additional fund needed by estimating the amount of new asset necessary to support the forecasted level of sales and then subtracting from that amount the spontaneous funds that will be generated from operation. The firm can then plan how to raise the additional funds needed most efficiently. Adjustment must be made if economies of scale exist in the use of assets, if excess capacity exists or asset must be added in lumpy increments. Linear regression and excess capacity adjustment can be used to forecast asset requirements in situation where assets are not expected to grow at the same rate as sales. Different sources of Funds available to a Carlin Light for new Power plant project Businesses, individuals and government often need to raise capital to invest in specific projects. For example, suppose Carlin power Light (CPL) forecasts an increase in the demand for electricity in North Carolina and the company decides to build a new power plant. Because at the moment CPL certainly not have the 1 billion to pay for the plant, Carlin light will have to raise this capital in the financial market. Although equity, debt and preferred stock are the major sources of funds for the company to raised a capital. Ability to borrow A liquid position is not only way to provide for flexibility and thereby protect against uncertainty. If the CPL has the ability to borrow on comparatively short notice, it may relatively flexible. This ability to borrow can be in the form of a line of credit or a revolving credit from a bank or financial institution. Bonds Bond is another option for the CPL to raise a capital for the investment in new project. In financial term a bond is a debt security in which the authorized issuer owes the holders a debt and, its depend upon the terms of the bond, some bonds obliged to pay a certain amount of interest until the time of its maturity. A bond is a kind of formal contract to payback borrowed money with interest at fixed intervals. So issuing bond can be the one of source for the company to raise capital. Leasing Leasing as an alternative to outright purchase, minimize cash outgoing and maximize the tax advantages. The lease can include such charges as maintenance, which enables the company to know, in advance, the total costs for the year. At the end of the lease period the company can return the asset, exercise its option to buy or negotiate a new lease on new equipment. Leasing mean that company can always have the most up-to-date equipment. The company may never own the good outright. However, if it wants to keep the equipment, it must take out a new lease or buy. Alternatively organization can sell an asset to a financial institution and lease it back from them. This is termed sales and lease back. The advantage here is that the company receives an injection of cash and can spread the repayments over a number of years. Note payable CPL can use note payable method to raise a capital for its project. A promissory note, referred to as a note payable. Or can say commonly as just a NOTE, it is a contract where one party makes an unconditional promise in writing to pay a sum of money to the other party or can say company (payee) either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions. Common stock Common stock is another way to raised fund in form of CPL equity ownership. It is a type of security. In case of common stock holders of common stock are able to influence the corporation through votes on establishing corporate objectives and policy, stock splits, and electing the companys board of directors. Some holders of common stock also receive preventative rights, which enable them to keep their proportional ownership in a company. There is no fixed dividend will be paid to common stock holders and so their returns are undecided, dependent on earnings, company reinvestment, and proficiency of the market to value and sell stock. Task 2 Different Appraisal Methods for Investment Net present value as a superior method of investment appraisal. Net present value NPV is a precursor of how much value an investment or project adds to the firm. With a specific project, if return value is a positive value, then project is in the status of discounted cash inflow in the time of time. But if NPV comes in a negative value, the project is in the status of discounted cash outflow of time. Some time with positive value of NPV risk could be accepted A present value is the value now invested for the cash flow it could be negative value or positive value. The value of each cash flow is needed to be adjusted for risk and the time value of money for a project. A net present value (NPV) considers all cash flows that including initial cash flows for example the cost of purchasing of an asset, whereas a present value does not. The simple present value is useful where the negative cash flow is an initial one-off, as when buying a security. A discount rate allied like this NPV = CF0 + CF1/(1+r) + CF2/(1+r)2 + CF3/(1+r)3   Where CF 1 is the cash flow the investor receives in the first year, CF2 the cash flow the investor receives in the second year etc. and r is the discount rate.( Ref: moneyterms.co.uk accessed on 11th May 2010) The series will typically end in a visual display unit value, which is a rough estimate of the value at that point. It is usual for this to be adequately far in the future to have only a minor effect on the NPV, so as rough estimate, usually based on a estimation ratio, that is acceptable. Periods other than a year could be used, but the discount rate needs to be adjusted. Assuming we start from an annual discount rate then to adjust to another period we would use, to get a rate i, given annual rate r, for a period x, where x is a fraction   or a multiple of the number of years: i + 1 = (r + 1)x To use discount rates that vary over time (so r1 is the rate in the first period, r2 = rate in the second period etc.) we would have to resort to a more basic form of the calcula tion: NPV = CF0 + CF1/(1+r1) + CF2/((1+r1) ÃÆ'Æ’-(1+r2)) + CF3/((1+r1) ÃÆ'Æ’-(1+r2) ÃÆ'Æ’-(1+r3))   This would be tedious to calculate by hand but is fairly easy to implement in a spreadsheet Strengths It will give the accurate decision advice assuming a perfect capital market. It will also give right ranking for mutually exclusive projects. NPV gives an absolute value. NPV allows for the time value for the cash flows. Weaknesses It is very difficult to identify the correct discount rate in the given project. NPV as method of investment assessment requires the decision criteria to be specified before the appraisal can be undertaken In contrast of NPV there are other three methods of investment appraisal Pay back Internal rate of return Accounting rate of return Pay Back In business and financial side refers to the period of time required for the return on an investment to pay back the sum of the original investment. Payback period which dealings the time required for the cash inflows to equal the original expense. It measures risk, not return. It will give you exact period to pay back Loan or finance, Difference between Cash inflows and Outflows are also outlined The payback period is both theoretically simple and easy to calculate. It is also a seriously unsound method of evaluating investments. The payback period is the time in use to recover the initial investment or initial capital. So a  £1m investment that will make a profit of  £200,000 a year has a payback period of five years. Investments with a short-term payback period are favored to those with a long period. Most companies using payback period as a regular will have a maximum acceptable period. The payback period has a number of serious flaws/Demerits: It attaches no value to cash flows after the end of the payback period. It makes no adjustments for risk. It is not directly related to wealth maximization as NPV is. It ignores the time value of money The cut off period is arbitrary. To compensate for some of these deficiencies, one can adjust the cash flow by discounting the cash flow using the WACC and then calculating the payback period. This only really adjusts for the time value of money and it therefore does not address the other deficiencies of the payback period. One justification for the use of the payback period is that it is conservative, as it values only short term returns which can be foreseen with reasonable certainty. However this argument does not really stand up to scrutiny; the NPV also adjusts for the uncertainty of future cash flows and does so correctly. Strengths Simple to compute Provides some information on the risk of the investment Provides a crude measure of liquidity Weaknesses It is not for very long financing, It doesnt deal with Time value of money so many times companies have to pay more than they actually acquire, Pay back period has limitations with Inflation as well, rise of inflation can cause serious damage to organizations finance. Interest rates are also not entirely covered, however we can calculate interest rate over pay back period, but it has some limitations. It makes no adjustment for risk as well. INTERNAL RATE OF RETURN The internal rate of return that is called (IRR) is a rate of return that is used in capital budgeting as a tool to calculate and compare the profitability of investment in the project. It is also called the discounted cash flow rate of return or simply the rate of return that is called ROR The Internal Rate of Return is the discount rate that generates a zero net present value for a sequence of future cash flows. This basically means that IRR is the rate of return that makes the amount of present value of future cash flows and the final market value of a project that equal its current market value. Internal Rate of Return provides a simple hurdle rate, whereby any project should be avoided if the cost of capital exceeds this rate. Usually a financial calculator has to be used to calculate this IRR, though it can also be mathematically calculated using the following formula Internal Rate of Return is the flip side of Net Present Value (NPV), where NPV is the discounted val ue of a stream of cash flows, generated from an investment. IRR thus computes the break-even rate of return showing the discount rate, below which an investment results in a positive NPV.  It calculates Break-even, IRR calculates an alternative cost of capital including an appropriate risk premium. (Ref: www.scribd.com/doc//Capital-Budgeting-of-Canteen-Wala  accessed on 15th May 2010) Strengths Academicians have long predictable the superiority of net present value (NPV) over internal rate of return (IRR), yet financial managers carry on to use IRR as a capital budgeting measure. Weakness IRR cannot not be use to rate mutually exclusive projects, mutually exclusive are those where you have to choose one project not both. The IRR also cannot be use in the usual manner for projects that start with an initial positive cash inflow, like Deposit in Fixed account by Customer, intermediate cash flows are never reinvested or considered at the projects IRR, thus making IRR little edgy as compared to NPV Accounting Rate of Return In finance, and accounting, it measures the excess or shortfall of. Input the cash flows and a discount rate or discount curve and outputting The accounting rate of return (ARR) is a very simple (in fact overly simple) rate of return: Average profit à · average investment As a percentage. Where average means arithmetic mean The profit number used is operating profit usually from a particular project). The average investment is the book value asset tied up. This is important as the profit figure used is after depreciation and amortization the means that value of assets used should also be after depreciation and amortization as well. ARR is most often used internally when selecting projects. It can also be used to measure the performance of projects and subsidiaries within an organization. It is rarely used by investors, and should not be used at all, because: Cash flows are more important to investors, and ARR is based on numbers that include non-cash items. ARR does not take into account the time value of money the value of cash flows does not diminish with time as is the case with NPV It does not adjust for the greater risk to longer term forecasts. There are better alternatives which are not significantly more difficult to calculate. The accounting rate of return is conceptually similar to pay back, and its flaws, in particular, are similar. A very important difference is that it tends to favour higher risk decisions (because future profits are insufficiently discounted for risk, as well as for time value), whereas use of the payback period leads to overly conservative decisions. Because ARR does not take into account the time value of money, and because it is wholly unadjusted for non-cash items, any method of selecting investments based on it is necessarily seriously flawed. Its only advantage is that it is very easy to calculate. It is fairly easy to construct (realistic) examples where it will lead to different choic es from NPV, and the NPV led decision is clearly correct. Strengths Considers the time value of money Considers the risk of the projects cash flows (through the cost of capital) Weaknesses No concrete decision criteria that indicate whether the investment increases the firms value Requires an estimate of the cost of capital in order to calculate the payback Ignores cash flows beyond the discounted payback period Recommendations An efficient understanding of present value concepts is of great support in the understanding of a wide range of areas of business decision making. The concepts are particularly important in managerial decision making, since many decisions made today affect the firms cash flows over future time periods for any project. In this report I have only discussed how to take the timing of the cash flows into concern. Risk and tax considerations must still be defined before the real-world decision maker has a tool that can be successfully applied. In addition, there are may be many qualitative factors that management wants to think before accepting or rejecting an investment. One another important thing is that NPV helps management in decision making for the approval and rejection of the project. Task 3 Part (a) RATIO ANALYSIS Financial ratio analysis is the computation and comparison of ratios which are derived from the information of the companys financial statements. We calculated different ratios to analyze companys financial position. Ratios are shown below Calculation of ratios for both years of Amber Lights Ltd, a high street fashion store RETURN ON CAPITAL EMPLOYED Capital employed is in general measured as fixed assets add current assets subtract Current liabilities and represents the long term investment in the business, or owners capital plus long term liabilities. Return on capital employed is frequently regarded as the best measure of profitability. Formula = Net profit before tax interest/ Capital employed Capital employed= total asset current liabilities LAST YEAR  £ THIS YEAR  £ = 22,000/144,000 0.152778 = 35,000/142,000 0.246479 Interpretation: Note that the profit before interest is used, because the loan capital compensated by that interest is included in capital employed. Amber Light Ltd ROC for last year is 15% which is very low not dramatically good because a low return on capital employed (assets used) is caused by either a low profit margin or a low asset turnover or both, but this year it has been increased by 24% which shows the increase in profitability of a company. RETURN ON ORDINARY SHAREHOLDERS FUNDS Return on ordinary shareholders funds represent whether or not a company is generating satisfactory profits in relation to the resources invested in it by shareholders Formula = Net profit after taxation preference dividend / (ordinary share capital + reserves) LAST YEAR  £ THIS YEAR  £ = 14,000/(16,000+25,000) 14,000/41,000 0.341463 = 16,000/(16,000+25,000) 16,000/41,000 0.390244 Interpretation: Return on ordinary shareholder funds in last year was 0.341463 but it shows increase for this year by 0.390244 which is positive sign for the company. But if we see the over all percentage of the company that means company may not generating adequate profit as compare to resource been invested GROSS PROFIT MARGINE GPM is the amount remaining after paying for the cost of good sold. Having low GPM may result from low prices, high cost of material, and high cost of labour, bad product mix or a combination of these factors. Formula = Gross profit / sales LAST YEAR  £ THIS YEAR  £ = 92,000/350,000 0.262857 = 110,000/420,000 0.261905 Interpretation: The Gross profit margin reveals the percentage of each pound left over after the business has paid for its goods. Amber Light Limited gross profit in last year was 0.262857 but it has been slightly decreased by 0.261905 how ever the decrease in gross profit ratio indicates business might bearing high cost or may company issued some off sales on credit . NET PROFIT MARGIN Net Profit Margin ratio of net income to net sales is called the profit margin. It defines the profitability generated from revenue and hence is an important measure of operating performance Formula = Net profit before tax interest/ Sales LAST YEAR  £ THIS YEAR  £ =22,000/350,000 0.062857 =35000/420,000 0.083333 Interpretation: Profitability ratio of Amber light Ltd Company shows increase in trend that shows earning power of the business is strong and also indicates that companys pricing cost structure and production efficiency. CURRENT RATIO Current ration ratio is obtained by dividing the Total Current Assets of Amber light Company by its Total Current Liabilities. The ratio indicates as a test of liquidity for a company. It expresses the working capital relationship of current assets available to meet the companys current obligations. Formula = Total current asset / Total current liabilities LAST YEAR  £ THIS YEAR  £ =110,000/50,000 2.2 =136,000/92,000 1.478261 Interpretation Amber light Ltd Company has 2.2 of Current Assets this year and 1.478261 last year to meet $1.00 of its Current Liability ACID TEST RATIO This ratio is obtained by Total Quick Assets of a company divided by its Total Current Liabilities. Sometimes a company is carrying heavy inventory as part of its current assets, which might be outdated or slow moving. Thus deducting inventory from current assets and then doing the liquidity test is measured by this ratio. The ratio is considered as an acid test of liquidity for an organization. It defines the true working capital relationship of its cash, A/R, prepaid and notes receivables available to meet the organization current obligations. Formula =Cash + Government securities + receivables / Total current liabilities LAST YEAR  £ THIS YEAR  £ =(4,000+62,000+0)/50,000 66,000/50,000 1.32 =(1,000+72,000+0)/92,000 73,000/92,000 0.793478 Interpretation: It is a stringent test of liquidity. It is found by separating the most liquid current assets by current liquidity. Quick ratio of Amber light Company shows slight decrease of 0.793478 in this year as in last year it was 1.32 so, ratio has been decreased this year that Shows Company has low efficiency to meet its short term obligations from most liquid assets. AVERAGE STOCK TURNOVER PEIOD Average stock turnover period Measures the number of times a company converts its stock into sales during the year. When investigative this ratio it should be borne in mind that different companies will have varying levels of stock turnover depending on what they produce and the industry they operate in. Formula =Cost of good sold / Average stock LAST YEAR  £ THIS YEAR  £ =258,000/44,000 5.863636 =310,000/63,000 4.920635 Interpretation: In last year the inventories turn over were 5.8 or approximately 6 times which means Increasing inventory turns reduces holding cost. The organization spends very less amount of money on rent, utilities, insurance, maintenance, theft and other costs of maintaining a stock of good to be sold but in this year there is slightly decrease in inventory turn over which is 4.9 times which may result to overstocking. Part (b) Financial ratio analysis helps an organization to evaluate their employee performance, credit policies and also over all performance and efficiency of the company. After doing ratio analysis of the company it tell us that how company is improving its performance gradually. Some of its ratios shows sudden increase in certain areas like return on capital employed which has increased in this year from 15% to 25% that shows the increase in profitability of a company. Its mean company is optimum utilising their asset to earn more profit. In other words if we looked at ratio analysis of last year and this year which indicates that over all company performed well in this year thats mean company is efficiently utilising its asset and other resources they have minimised their liabilities. But overall the result of this year is better than the previous one. Limitations of ratios Following are the limitations of ratio analysis. The first and important limitation of the ratio category is Accounting information that means the different accounting policies which may misrepresent inter company comparisons. And secondly, through inventive accounting some accounts of the company are adjusted therefore, ratio analysis can give false explanations to the users. The second limitation of ratio is Information problems. The limitations problem in information are there because ratios are not ultimate measures, invalid information is presented in the financial statements, historical costs is not good for decision making, and ratios give general interpretations. Third form of limitation is Comparison of performance over the time. These limitations can caused by ratio analysis because of price changes, technology changes, changes in accounting policy and impact of organization size Many ratios are calculated on the basis of the balance sheet figures of the compa ny. These figures are as on the balance-sheet date only and may not be suggestive of the year round position. It can present current and past trends, but not future trends. Impact of inflation is not properly reflected the ratios analysis , as many figures are taken at historical for of data that is several years old. The ratios are only as good or bad as the essential information used to calculate them. Recommendations: In business strategy we emphasised on the role of the business environment in shaping strategic thinking and decision-making. The external environment in which a business is operating can creates a lot of opportunities which a business can exploit, as well as threats that could damage a business as well. However, to be in a position to take advantage of opportunities or react to threats, a business needs to have the right resources and capabilities in place. After analysing The Amber LIGHTS LTD financial statement we recommend that company must focus on the resource auditing to identify the resources available to a business as well as best utilisation of the resources. Some of these can be owned e.g. plant, building and machinery, retail outlets whereas other resources can be obtained through partnerships, mergers or simply supplier arrangements with other businesses. The resource auditing analysis helps to define the capabilities for AMBER LIGHTS LTD. An most important objec tive of a strategic auditing is to make sure that the business portfolio is strong and that business units requiring investment and management attention are highlighted. REFRENCES www.google.com (accessed on 3rd May 2010) www.investopedia.com (accessed on 9th June 2010) www.solutionmatrix.com (accessed on 12th June 2010) www.wikipedia.com (accessed on 7th June 2010) Van Horn J. (12th Edition) Financial management and policy (accessed on 1st May 2010) F.Birgham et C. Ehrhardt (10th Edition) Financial Management Theory and Practice (accessed on 5th May 2010)