Thursday, February 28, 2019

Analysis of the film “We Need To Talk About Kevin”

We Need to Talk About Kevin is a picture show reading of Lionel Shrivers novel with the same title. The story revolves around a family of four, tho the main focus is on the relationship between the mother (Eva, contend by Tilda Swinton) and the boy (Kevin, played by Rock River, Jasper Newell and Ezra Miller).The cinema goes fend for and forth in time to show different points in Evas intent. The utilisation of flashbacks and the clever combination of the past and present scenes illustrates the contrast of what her life was like with her family and without, certain inside information in both let us know what Eva was hark backing and feeling. There is a great signifi groundworkce to details in this film. For example the use of the colour red, this could represent fear, blood and the reach relationships Eva had not and with Kevin however also Franklin, her husband. At the beginning of the movie we see people in a pool of red, this makes us think of violence, a massacre, exa ctly re all toldy its and a love apple festival filmed from a distance. This scene seems strange and out of place, but it sets a certain mood and is also a agency of introducing Evas occupation.Eva is a well-paid hold out guide author, she is absoloutly in love with her job and contracts to travel around the world. Her husband and her are passionatly inlove with one another, however Franklin prefers her at home. Franklin wants a baby bird and after some time, once Eva is pregnant it is quite figure out that she isnt thrilled about this, however details such as little ballerinas running around suggest she wishes for a girl.Also you disregard read Analysis July at the MultiplexShe eventually gives birth to Kevin, and we fuck tell from the very beginning that something isnt right when he cries all the time except when hes with his father Franklin. The movie lets us follow through the growing up of Kevin, the way he manipulates with his family and uses sentience and cruel ways to get what he wants. As a cosset he clearly prefers Franklin, but hes ever on the job(p) while Eva stays at home with Kevin. This makes Eva exhausted and it doesnt get much better with time. As a toddler, Kevin maintains to be disobediant.He doesnt communicate with Eva or respond to any of her actions, so she takes him to the doctor idea he has autism. The doctor confirms that on that point isnt anything wrong with him medically, which seems to break Evas heart as this means that to Kevin there is something wrong with her. She admits she was much happier before, but she never gives up on Kevin. She possibly sees Kevin as a challange that she tail later add to her accomplishments or maybe she realizes its her duty to always be there for him, no matter what.Kevin is a very strike and difficult character, from an early age he seems to do everything he can to make Eva miserable and he takes pleasure from this. He starts playing boisterous videogames and as a teenager he colle cts computer viruses. He continues to use nappies until about the age of 6 and once Eva gives birth to her second child Celia, the first thing Kevin does is splash some water in her eyes. However, there are some scenes which let us know that despite Kevins cool act he is interested in his mum, that instead of his vulgar whatever to everything, he does have prferences, and that he isnt emotionless and freighter the mask he could be a normal boy. Kevin has a way of making sure everyone does what he wants. He blackmails Eva, pretends to be a lovable little boy infront of Franklin and uses the fact that Celia adores him to order her around and express his risky ways on her, knowing shell never betray him. Kevin seems to live only for his mother, he doesnt really care about Franklin and Celia, theyre just his tools, the end of the movie proves this point.The peek of the story, as well as the mete between past and present is a massacre carried out by Kevin, where he kills a number of people. He plans this for some time and commits the offensive just before his 16th birthday. This is his grand finale of making Evas life a living hell, knowing that this time its permanent. He is very succesful in doing this as not only does the whole townspeople now hate her but she hates herself too, blaming herself for what Kevins done. She punishes herself with a boring mod job, tiny house and the memories. After the massacre she pays visits to Kevin in the juvenile prison, he continues to annoy her at every chance he gets until a few days before his 18th birthday (also the 2 year day of remembrance of the massacre) he finally seems to have realized that this wasnt just a joke.Read alsoCase 302 July in MultiplexThe end of the movie is open to interpretation. To me it shows Eva ready to move on with life and accept her son the way he is. I dont think she forgave him or ever will, but she possibly realized that having him as a monitor lizard of everything is punishment enough and there is no reason not to continue living.I liked the movie, I thought the acting was incredible and the prize of actors, especially for Kevin was great too, he looked like the same person end-to-end all the stages of his life. I think the viewers have a people to think about as the story unfolds, I like that there was no definite answer to anything, just like in nonchalant life, we have to try and understand things ourselves.

An Exploratory Study of Myanmar Culture

Hofstede originally identified four dimensions of socialization power distance, soulfulnessism, masculinity, and uncertainty avoidance. Power distance represents the degree of a socializations acceptance of inequality among its members. Individualism and collectivism represent a cultures main focus, universe either the importance of the individual or the group. Masculinity and femininity represents the stereotypical characteristics of men and women as being the dominant cultural values. Uncertainty avoidance is essentially a incarnate tolerance for ambiguity for a culture.Later look with Michael oblige (Hofstede & Bond 1988) added a fifth dimension called long-term Electronic copy purchasable at http//ssrn. com/abstract=1114625 orientation. This dimension, originally called Confucian Dynamism, measures the preferences of a culture for a long-term and traditional view of time. Hofstedes work has attracted a subjugate of critics. Some have expressed concerns about the generali zability of the sample, the level of analysis, the comparison of governmental boundaries (countries) to culture, and the validity of the instrument (Mc Sweeney 2002 Smith 2002).Others have challenged the assumption of the homogeneity of for each one studied culture (Sivakumar & Nakata 2001). The additional dimension of long-term orientation (LTO) has been challenged on the grounds of conceptual validity (Fang 2003). sequence many of the concerns raised by his critics can be considered to have some validity, Hofstedes research, nevertheless, represents the most statewide analysis of cultural values to date. This paper provides a preliminary take in into the cultural assessment of a landed estate not included in the Hofstede data set.Myanmar is located in Southeast Asia, bordering Thailand, China, India, and Laos. The country, formerly called Burma, gained its independence from Britain at the end of World War II, after a hard fought crusade with the colonial power and the Japane se invaders. Burmese nationalist and national hero, Aung San fought for his countrys independence and for democratic rule (Khng 2000). His daughter, Nobel Peace Prize winner, Aung San Suu Kyi continues the fight down today inside Myanmar, even as she lives under house arrest.While Myanmar interacts with its ASEAN neighbors, a number of Western countries have placed economic sanctions on the country for its lack of democracy. These sanctions have limited foreign investment and separate forms of economic exchange. A military junta has ruled the country for the other(prenominal) 17 years and the country has operated in various states of isolation from the human beings over those years. As a result of its isolation, very little research has been conducted on its culture or values orientation.

Wednesday, February 27, 2019

Fast Food versus Homemade Food Essay

On the other hand, home-made provender has less(prenominal) attraction than degenerate nutrition. A reason for this is that home-made food needs gobs of time until it gets ready. For instance, people should wait for several hours in order to adjudge a ready home-made meal. Another reason is that home-made food is less satisfied than immobile food. For example, you may not go back all the ingredients you need in one grocery, yet you have to look in several groceries until you find all the ingredients. Home-made food is much healthier than fast food, and therefore, people go out enjoy eating their meals without thinking of health problems.In conclusion, both fast food and home-made food have significant divergence in training time, convenience and quality. Fast food readiness be better in saving time and being more convenient, while home-made food might be better in quality. I do believe that home-made food is much better than fast food, because peoples health is The questio ns by Dixit saab 1. Chule Ki Roti is better or bread. 2. Fast Food is better or customs(regular ) food. , are virtually relevant in to twenty-four hour periodss context. I privilege regular food but not fast food. Nutritious, hygenenic food is most important. Even in fast food if it is hygenic, nutritious it can be taken.Many a time we are forced to take fast food which is not so hygenic or nutritious ,because of the urgrncy , in topographic point of the meals we take. The regular intake of fast foods in place of regular food is not suggestable which may kill apetite and person become weak. Inthe present day stressful jobs the person is consuming his physical, mental talents tocope with work schedules. Since body is as well as a machine we should give necessary inputs through food and compulsory rest so that body functions smoothly. Occasional fast food is unaviodable. save one should take care of health by taking wholesome food. Health is Wealth.

Apple Inc Marketing Report Essay

orchard apple tree Inc. is an American multinational corporation, which de mugs, manufactures and sells personal computers, consumer electronics and softwargon, and reserves related services. The business has experienced a tremendous offset from 2001 when it has introduced its iPod mp3 player. apple Inc. is considered to be the most successful electronics comp each in the world. incomingExecutive SummaryMarketing Mix Today, Apple unveilight-emitting diode its smart product, the iPad. The much publicized rumour about a tablet created by Apple is now a reality. Tablet pcs become been around for a long time, but what collapses the iPad polar from the other commercialize offerings? What strategy does Apple declare in place in ball club to make this a runaway hit want its iPh unity and iPod product lines? Well function the marketing mix (4 Ps) to see how Apple strategized its goal to make the iPad a bestseller.Marketing Mix is the set of controllable, tactical marketing tool s that the plastered blends to produce the response it wants in the target market. Price, product, place and promotion are the 4 Ps or components that make up a marketing mix. professionalductApple sells a variety of electronic devices. In 2010, Apple introduced their first tablet, iPad. I inflate is a tablet device that has several give births. It looks like a bigger iPhone or iPod Touch and possess a led touch screen interface. Its dimensions are 9.56 in x 7.47 in. It is to a fault very(prenominal) thin and has a battery life of ten hours. This product has the exponent to surf the internet, listen and purchase music, watch videos, view photos, analyse e-mail, read and purchase e-books and execute multiple applications. In fact, the multiple applications available for the iPhone go away be fully compatible with the iPad There pull up stakes be different versions of the iPad at launch with different hard drive capacities and 3g capability. There will be a 16 GB, 32 GB, and 64 GB variants. in addition all iPads will have Wi-Fi and are wireless-n capable. The iPad will overly feature the latest Bluetooth profile and will have an on-screen keyboard for inputs.PriceThe base vex of IPad (16 GB) without 3g capability is the cheapest at $499, 32 GB at $699, this is I pad and I phone 5 prices and 64 GB will retail for $699. If a customer wants 3G capability they will have to pay an supererogatory $130 on top of the base price. The consumer as well as has the option to sign up for AT&T data plan that allows them to have door to the internet virtually anywhere and in areas without Wi-Fi connections. The data plan is twain tiered the customer has a choice between $14.99/calendar month for 250mb and $29.99/month for unlimited entryway. The data plan will also allow the consumer to access various AT&T hotspots for separated.Unlike the iPhone, the customer will not be locked into multi-year contractual obligation and they can terminate it at any time. As far as discounts go, Apple is known for charging higher, premium prices however, they usually offer $100 off certain products to college and University students. They also do picky bundles for purchasing certain products during different times of the year. For example, I purchased a MacBook Pro during the summer and they had a promotion that gave me a free iPod and a free printer plus the $100 discount because I was a University student. They have done the aforementioned(prenominal) promotion for the previous two years as thoroughly.Place There are multiple Apple stores across the Australia, 20 of them, in which all the apple products will be sold. Apples retail stores ensure high quality customer experience provide direct contact with knowledgeable staff and increases brand awareness. Customers can also purchase the products online in Apples official website. Best Buy, one of Apples partners, also sells Apple products and also has a bear-sized retail footprint in the Australia. A mazon, one of the largest online retailers, also carries Apple products. Apple should gauge consumer demand and produce enough in order to contact the market.Promotion In the past two decades, Apple has become well known for its advertisement. Its most significant ad campaigns include the 1984 Super bowling ball commercial, the 1990s Think Different campaign, and the iPod people of the 2000s. Other than that Apple Inc. also held press conference to before each products launch debut the products. several(prenominal) of the major techblogs, forums and websites also invited to cover the event. Given Apples grade record of heavy promotion and advertisement of its marquee products, the future apple new product has a high probability of getting the same advertising treatment. The Mac, Iphone 5 and iPad is already highlighted on the front page of Apple website and the hour long keynote by Steve Jobs regarding the Mac, IPhone 5 and iPad are also available on the website.

Key success factors for Airtel using Porters value chain Analysis Essay

The methodological analysis of the report is carried out by observing and analyzing variant junior-grade sources. The various secondary sources are study of encourage twine model in detail from various books and different net sources.. Other than these , study of happen upon factors in the growth of airtel industry. Agter study of key factors, a complete fellowship of industry is taken from various secondary sources. (1. 1)Profile of the comp some(pre zero(prenominal)inal) Bharti Airtel Limited, which is in addition cognize as Airtel, is an multinational tele talks services lodge of India which is headquartered in New Delhi.It exercises in 20 countries and some of them are south Africa, Asia, channel countries. Airtel has GSM network in all countries in which it operates, providing services such(prenominal) as 2G, 3G, 4G depending upon the country of operation. Airtel is the mankinds third largest mobile telecommunications company by subscribers, with over 275 maven th ousand million subscribers across 20 countries as of July 2013. It is the largest cellular service provider in India, with 192. 22 million subscribers as of August 2013. Airtel is the third largest in-country mobile factor by subscriber strand.Airtel is the largest provider of mobile telephony and second largest provider of fixed telephony in India, and is also a provider of broadband and subscription television services. It offers its telecom services under the airtel scar, and is headed by Sunil Bharti Mittal. Bharti Airtel is the depression Indian telecom service provider to achieve Cisco Gold Certification. And it also acts as a carrier for national and international long blank space communication services. The company has a submarine cable landing send out at Chennai, which connects the submarine cable connecting Chennai and Singapore.Airtel is credited with pioneering the business strategy of outsourcing all of its business operations except marketing, sales and finance and building the proceedings factory model of low cost and mellow volumes. The strategy has since been copied by several operators. And its network base stations, microwave links, is maintained by Ericsson and Nokia. vision 1. Become the most loved brand by 2015 2. Multiplatform services in telecom, enterprise and digital television, unified under brand airtel 3. Amongst the Top snow of Most Valuable Global disfigurements 4. No. 1 service brand in India CHAPTER 2 (2. 0) Effects of lever scope analysis some judicatures do non achieve the advances they anticipate by apply incorrect methods or models to determine the true costs of results and services. This failure to right on assess the costs associated with business not lonesome(prenominal) affects the profit margin, barely the organizations competitive advantage as well. In order to assess whether the organization is failing to realize optimum resource allocation, the organization should look at the methodology fir st popularized by Michael hall porter titled the Value drawstring Analysis (VCA). VCA seeks to define the entire chain by dint of which goods are supplied to a customer.The VCA corporation be a powerful tool in increasing an organizations competitive advantage by right on pricing convergences and assessing the true costs of materials and labour, organizations spate align the improvements in capacity and quality with its objectives. The value chain includes all the activities involved in product making. It is a useful tool to measure the value constraind for each action mechanism in the process of product creation. It is a crock up of a planetary houses strategic planning to arrange these activities in a mode that the amount of money value, the value that buyers are leave aloneing to pay, exceeds the total cost.According to Porter , a company can create value through a cost advantage or product differentiation. The activities in the value chain are not independent. Lin kages may exist between activities. In fact, one process may affect the cost and performance of the others. Linkage can exist between old activities, as well as, between primary and support activities. Therefore, competitive advantages can also be derived from the linkages between activities. Airtel seeks to create value through diversification by moving across businesses that packet both operational and corporate relatedness.With this approach, it expects to achieve high resource communion and consequently, significant cost reduction. It looks at operational relatedness since a numeral of its businesses operate across similar technologies and thus the platform for a given product can be used directly for extending the service from a tout ensemble bare-ass product. As an example, the cables for a telephone connection provided by Airtel can be used to provide broadband service to the customer without any significant change in radical. The skills required from the technicians a re also not very different and thus economies of scale are quite possible(2. 1) The Added-value Chain According to McPhee and Wheeler , foc employ on the firms internal core activities is not sufficient to generate value in todays firms. The authors propose an added-value chain model that includes a act of expanded business activities from different business models and a redefinition of value that incorporates brand, reputation, and relationship-based value drivers of the firm. In the added-value chain model, the definition of value incorporates profit margin and nonphysical assets like leadership quality, innovate capability, brand equity and competences in strategic-alliance development.This new value definition gives to the firms the ability to evaluate how their strategies affect both embarrassing and soft assets of the firms . This model is incomplete for example in finding and exploring non-linear value opportunities. Chapter 3 (3. 0) Key success factors Airtel has its pr esence in all 23 circles of the Indian telecom industry. Some of its key success factors are Brand get up Airtel is a well known name throughout the world. So due to its internationalization strategy It is earning a huge amount of profit. adept Step AheadAirtel perpetually believe in staying one smell ahead of its rivals and it achieves this by doing multidimensional expansion. And this thing can be achieved only by a stable and visionary management. Business Process Outsourcing Airtel always follows the strategy of outsourcing of all the non core activities and it keep on focussing on core activities. And it is also known as the first mobile company to outsource everything except marketing and sales. The outsources infrastructure and I. T operations from I. B. M, Nortel and Wipro and communication networks from Nokia and recently with Cisco and Servion to provide hosted contact centre services.Innovations in vessel Airtel has separate value added services for consumers and bus iness enterprises. And other services such as Airtel online desktop for Airtel broadband users which provides free online space for storing, also editing and sharing. It also provides free software and updates on rental basis. M-Commerce Airtel has also mood for introducing m commerce as one of its value added service. Because still 80 to 85 percent of population is looking for financial transactions using mobile technology. So its a good step. Network Airtel packs a punch when it comes to network coverage.The aim of Sunil Bharti Mittal wasto creates a network which is clear so far when in the basement. Airtel has done just that and beyond. (3. 1) Strategies of Airtel Mobile to mobile payment This is the first mobile-to-mobile payment option, which enables Airtel customers and ICICI bank visa cardholders to pay for their purchases with their Airtel mobile phones. Joint jeopardize Airtel realised that the role of mobile telephony must surpass the stodgy school of thought in Indi a. Ever since internet banking has kick started in India, it was just a matter of time before mobile banking started playacting the role of a constant revenue stream.The only drawback is the lack of infrastructure in India when it comes to cashless purchase To target close to 55 million farmers plant food cooperative of India came in with a joint venture with airtel. This venture ordain help the farmers with the help of telecommunication services. And it will also help in giving the vital information to the farmers. And this is an innovative way of targeting the lower part of the pyramis whereas competitiors are not doing so. Hiring strategy Airtel has a history of hiring some of the high level officials from other companies to be an integral part of their business.AIRTEL IN radiocommunication IN INDIA If we talk about wireless network airtel is at no. one position in India. It has a large customer base in comparison to other networks. So, from wireless they earn a total of 30% of revenue from market share. If we will see from the figure, airtel has 187 million customers in india which is the largest. And this proves that value chain plays a very important role in maintaining a profit margin. from this we came to know that the technology forward motion , which is a secondary activity and operation , inbound logistics of primary activities is quite strong.FIG (1) radio set SUBSCRIBERS Value chain model of Airtel If we talk about value chain model of Airtel, first we will start with some key factors and we will fit them in a particular step of value chain , so that we can identify how it is giving extra value to the firm. So we will discuss each step in brief one by one. 1) BRAND NAME Airtel is a well known name and is recognised throughout the world. It has its presence in various countries. If we talk through clear facts it is present in twenty countries and this brand is addressable to around 1.8 bn population. It has its presence in different corner s of world and is a major player in Africa country. It is considered as the provider of best services. It is also number one service brand in india. so because of having an image of deferential brand it is having a huge profit and they are having a profit margin. So its become an important part of value chain as it is providing value to the firm. So we can put this in technological advancement as because of good provider of services and technology it becomes a indulgent brand.

Tuesday, February 26, 2019

Ac505 Course Project a

ground level Project Hints The low specie commensurateness for April, is the capital from process 31 in the Asset section of the residue airplane. In the merchandise obtains bud drive, in April, we ingest 50% of March purchases (that arrive is also given to us 3/31 Accounts payable of $100,000 on page 415). Therefore, Total notes disbursements for April is (50% x $316,000 April purchases) + ($100,000 go forwarding March purchases to be compensable) = $258,000. Class, Here argon several(prenominal) hints. Lets start from the reservoir SALES compute First, take computeed gross revenue in wholes for sepa roamly calendar month of April, may, and June, and multiply by the selling price of $10/unit.You bequeath get be SALES which you go out also exact to plug into the In name sex Statement later. For example, April should be 65,000 units generation $10 = $650,000 Total Sales. For your chronicle of Expected coin Collections, each months units moldiness be mult iplied by the $10 selling price to yield the months sales. Per page 414, we take a shit 10% of a given months sales is smooth in the 2nd month following the sale, 70% in the month following the sale, and 20% in the month of sale. Therefore, for example Total specie Collection for April entrust incorporate of the finally 10% of February sales and 70% of March sales and 20% of April sales (26,000 Feb units x $10 x 0. 0) +(40,000 March units x $10 x 0. 70) + (65,000 April units x $10 x 0. 20) = $436,000. You suck up to repeat the comparable process for May and June that I just did for April, and then add up on the whole three months to get the quarter. Next, we grow the Merchandise Purchases Budget. Total necessarily are Budgeted sales in units plus Budgeted end point blood logical argument (budgeted termination take stock =40% of the adjacent months sales in units according to the hurt of the problem). Once we fork up Total Needs, we cipher the Beginning Invent ory (which of lead is the previous months culture stock) to get Required Unit Purchases.So for April, that is 65,000 April budgeted units + (0. 40 x 100,000 May budgeted units) = 105,000 units Total Needs less ending March inventory which is the equal as April beginning inventory (which is 0. 40 x 65,000 April units = 26,000 units) = 79,000 units undeniable purchases. Be careful with the inventory you exclusivelyt jointt just pull the $104,000 inventory transfer of the difference yellow journalism on page 415 beca office the commensurateness winding-clothes is in dollar signs not units, so if you want to use that counter parallelism sheet inventory figure, you possess to say $104,000 divided by $4 cost = 26,000 units. acquiring back to our 79,000 units required purchases, now multiply cypher materials cost of $4 times the Required Unit Purchases to get Required Dollar purchases, which would be 79,000 Required April Unit Purchases x $4 = $316,000 as Required dollar pu rchases for April. Again, be careful, on page 414 the problem states that only 50% of whatever given months purchases are paid for during the month of purchase, with the remaining 50% paid for in the following month, that fact will come in happy for the next step the Budgeted money Disbursements for merchandise purchases.For April, we need to therefore complete what 50% of March purchases are (that is also given to us 3/31 Accounts payable of $100,000 on page 415). Therefore, Total cash disbursements for April is (50% x $316,000 April purchases )+($100,000 remaining March purchases to be paid)= $258,000 which we will need in the next step for the Cash Budget. cash BUDGET Remember that the beginning Cash end of the month is the previous months ending cash eternal sleep. For April, we idler use the 3/31 Cash ending balance of $74,000 as state on the page 415 Balance Sheet for 3/31.Next we add service from Customers (which we reason in the Schedule of Expected Cash Collection s as $436,000 for April, heavy(a) us Total Cash Available for April as $510,000. For the Disbursements, we already know what the Purchase of Inventory figure is that we mensural in the Budgeted Cash Disbursements (rec altogether it was $258,000). publicize is $200,000 per month per page 414 Rent is $18,000 per month per page 414 salaries are $106,000 per month per page 414 Sales commissions are 4% of Sales, so for April that is 65,000 units times $10 x 0. 04 = $26,000. Utilities are decided at $7,000 each month.We dont develop to consider Depreciation in the Cash Budget because derogation is not a cash let outlay. The problem states that Insurance is prepaid so we know that for this problem it will not appear on the Cash Budget just handle dispraise wont ( just remember that both Depreciation and Insurance will show up as expenses to be matched against r tied(p)ue when we do the Income Statement later). The problem states that Dividends are paid at $15,000 per quarter in th e first month of each quarter, so that nitty-gritty April (but not May or June) will have $15,000 for Dividends pay out in the Cash Budget.The problem also states that equipment will be purchased in May at $16,000 and in June at 40,000 (but not in April, so we can ignore the cash outlay for equipment when calculating April Total Disbursements (which are therefore $630,000. ) Since April Total Cash Available is only $510,000 if we subtract the Disbursements of $630,000, we have a wishing, -$120,000. Because the problem states that minimum ending cash balance must be $50,000 each month, we know we have to borrow some bills from the bank. We need $120,000 to tot cash to zero plus $50,000 for the minimum ending cash balance for radical borrowings of $170,000.This $170,000 figure is already in increments of $1,000, so we dont need to round up our borrowings. (Note When you do the cash budget you should have determined a deficiency (more cash outlay than revenue) in each of months Ap ril & May requiring you to borrow, but in June, you should have calculated an excess of put across over disbursements leaving you money to repay involution and then psyche in June. As to the interest deliberateness in June, lets review it respect is 1%, so Interest should be the add of (the list you borrowed in April of 170,000 times 3 months x 0. 01) and (the amount you borrowed in May times 2 months times 0. 01).The reason that you have to entangle the month of June in your count of principal balance of loan amounts to five-fold interest rate by is because those amounts were outstanding as owed to the bank during the month of June even though you didnt borrow whatsoever additional amounts during June. Remember, after(prenominal) you reckon out the interest expense in June, you can calculate how much principal you can pay back (in increments of $1,000s) being careful to leave a cash balance of $50,000. P. S. April financing should be $170,000 as I showed above. When you calculate Mays borrowings, dont even think closely Aprils financing, do the calculation independently.You wont pay any interest until June (dont worry about accruing it for a cash budget, and since the income narrative is for all three months anyway, we can think of the June cash outlay for interest expense as paying off everything that would have been accrue anyway recreate see my calculation for the June interest pay above (hint $5,300 is interest payment see my excel notes in the sample). You must pay off all interest due before the bank lets you pay any principal. ace last Hint Ending cash balance for the quarter is the same as June 30 cash balance, and should be $94,700.For all of the other every quarter amounts, you can add the April, May and June amounts. If you havent fallen asleep reading yet, on to the Income Statement and Balance Sheet The income statement reflects revenue and expenses over a PERIOD in time (here the quarter including April, May and June). To prepa re the income statement, your sales revenue should be the gist of the quarter that you calculated as TOTAL SALES (you calculated that figure for each month by multiplying budgeted sales in units each month ( number of 215,000 units) times selling price per unit of $10).For the quarter the COST OF GOODS SOLD is the 215,000 units times the direct materials cost of $4 per unit. Then the COMMISSIONS expense is 4% of sales (so 0. 04 x 215,000 units x $10). The sum of the unsettled cost of goods sold and commissions yields a subtotal of variable costs, and then after that amount is subtracted from sales, you get the Contribution Margin. Fixed Expenses is next, which are the Quarterly amounts you calculated in the Cash Budget for Advertising, Rent, Salaries, and Utilities, except that you now need to include DEPRECIATION expenses (that did not appear in the cash budget since disparagement is not a cash outlay).Also, because the problem tell that INSURANCE had been prepaid, policy did n ot appear in the cash budget, but it is a fixed expense that must be recorded each month like disparagement in order to match revenues against expenses. You dont need to include the Equipment purchases on the income statement as expenses because they are capitalized as assets on the balance sheet instead of expensed on the income statement per Generally Accepted Accounting Principles. Dividends are a reduction of contain earnings on the balance sheet and are not expensed on the income statement per GAAP.Once you total the fixed expenses and subtract them from the Contribution margin, you have Net Operating Income. Now, you have to subtract the total INTEREST expense that you calculated in the Cash budget to get Net Income. (Note When you did the cash budget you should have determined a deficiency (more cash outlay than revenue) in each of months April May requiring you to borrow, but in June, you should have calculated an excess of receipts over disbursements leaving you money to repay interest and then principal. Were you confident about your interest calculation in June?Lets review it Interest should be the sum of (the amount you borrowed in April times 3 months x 1%) and (the amount you borrowed in May times 2 months times 1%). The reason that you have to include the month of June in your count of principal balance of loan amounts to multiple interest rate by is because those amounts were outstanding as owed to the bank during the month of June even though you didnt borrow any additional amounts during June. Remember, AFTER you figured out the interest expense, you can calculate how much principal you can pay back (in increments of $1,000s) being careful to leave a cash balance of $50,000. Actually, since you should have enough to pay the entire interest amount and the entire loan amount in June and still have 94,700 left as ending June cash balance. ) Please note The quarter ending cash balance is the same as the June ending cash balance since the last day of the quarter is June 30th. This in contrast to the revenue and variable expenses which will be the amounts that represent the SUM of April, May and June as I described above, and so will the fixed expenses and interest be the sum of the three months worth (not just the June amounts.In other words, only the ending cash balance will be the amount for June. ) Balance Sheet friend The balance sheet is given at a POINT in time (unlike the Income statement that is for a period of time). This means that all amounts will represent balances at June 30. The other thing to remember about the balance sheet is that total assets ALWAYS equals the sum of liabilities and stockholders equity. Assets The ending balance of CASH that you calculated when doing the Cash Budget will therefore be your line level for cash on the balance sheet.ACCOUNTS RECEIVABLE Since page 414 states 20% of a months sales are collected in the month of sale, 70% in the following month, and 10% in the second month, w e know at June 30th, we still have 10% of Mays sales outstanding to be collected in July, and 80% of Junes sales (60% of which will be collected in July and 10% of which will be collected in August). This means we have for your June ACCOUNTS RECEIVABLE, you have 10% of May sales (which is 100,000 May units x $10 x 0. 10 = $100,000) plus 80% of June sales (which is 50,000 June units x $10 x 0. 80 = $400,000) for a total June 30 A/R of $500,000. disown that the problem states that ending INVENTORY should be 40% of next months sales. (since inventory is to be 40% of the next months sales multiply 0. 40 x direct materials product cost of $4 x 30,000 July sales units). valid INSURANCE is next (think of this as Prepaid Insurance Beginning balance as of March thirty-first was $21,000 according to the 3/31 balance sheet n page 415, so from that amount you now have to subtract each of the amounts of insurance that represent the amounts that would have been due for April, May, and June, sinc e those periods have already lapsed as of the date of the June 30th balance sheet you are preparing.Hint you already calculated the amount of insurance you now need to subtract when you prepared the fixed expense delegate of the income statement. FIXED ASSETS wampum OF DEPRECIATION Again, start with the ending balance on the March 31st balance sheet, then add the purchase in May and the purchase in June and subtract the three months of depreciation expenses that have elapsed since the March 31st balance sheet date.Hint you already calculated the amount of depreciation you now need to subtract when you prepared the fixed expense bunch of the income statement. Total up all the assets. LIABILITIES ACCOUNTS PAYABLE (purchases) Remember that the problem states how purchases are paid 50% in the month of purchase and the remaining 50% in the following month. Therefore, at the end of June we know that 50% of June purchases remain unpaid, so A/P is 50% of the required dollar purchases for June that you calculated when you prepared the Merchandise purchases budget.DIVIDENDS PAYABLE The problem states that dividends of $15,000 are paid in the first month following each quarter, so we know that the $15,000 dividends that accrued during the quarter comprised of April, May and June wont be paid until July, and therefore have to be listed as payable as of June 30th for your balance sheet. Recall that dividends of $15,000 for the first quarter were paid in April, so the beginning balance of $15,000 in this account is not there anymore. LOANS PAYABLE Beginning balance is zero, so all we have is the sum of borrowings during April and May (there were no June borrowings) electronegative June repayments.Technically, we would also have to add the interest accrued on the borrowings but we could subtract it right back out because it was paid in adept in our Cash budget as of June 30. EQUITY CAPITAL lineage of $800,000 did not change since March31 since the problem does not stat e that the company legitimate any additional stock or bought back any exchequer stock. RETAINED EARNINGS There are two ways to come up with this figure The quick and dirty way is to take total assets and from that figure subtract the sum of (Accounts payable + Dividends Payable+ Loan Payable + Capital Stock).The correct way is to take the Beginning Balance of Retained Earnings as of March 31st, which is $580,000 and add the net income you calculated from the budgeted income statement and then subtract the $15,000 dividends declared since the last balance sheet date. (In our fibre the dividends were only declared and not paid because they reside in the dividends payable account as noted above, but that does not affect the computation. ) foretaste this helps p. s.Heres more hints On the master budget, for the project budget, in the Total Column, the beginning inventory is from the first period/quarter and the ending inventory is from the last period/quarter. This is a common error . This is also an issue on the direct materials budget (beginning and ending raw materials) and the cash budgets (cash). On the cash budget schedule, the ending cash from the first period will be the beginning cash for the following period.The ending March 31 cash balance has to be the April 1st opening balance of cash on the Cash Budget, and it is also the beginning cash balance of the quarter column on the Cash Budget. Since insurance is only paid in November, for the CASH BUDGET it is only a line item in Nov. We know in Nov the payment will be 3000 x 12 = 36,000 since per page 14 the company allocates 3000/mo to insurance expense (but for our purposes all we care about is the fact that the company allocates insurance expense at 3000/mo, meaning 3000 x 3 = 9,000 for the income statement for any three month quarter. Insurance will also appear on the balance sheet since the prepaid portion of it will be a certain asset (it is a current as opposed to a long term asset since it will be all used up with a year). Depreciation is stated at $14,000/mo (again depreciation is not a cash outlay, but it is an expense on the income statement with a corresponding amount pass each month to accumulated depreciation account on the balance sheet (the accumulated depreciation acts as a contra account to bring down he balance of the equipment cost sheet line item on the balance sheet. ) The amount of inventory really doesnt have anything to do with depreciation, since depreciation is a means of writing off equipment over its utilitarian life. Assuming a five year life, a 14,000 monthly depreciation expense would mean the original cost of the equipment would be about $840,000 (I have one client who has one replacement part that costs that amount for just one manufacturing molding machine, so dont be surprised by this large monthly depreciation expense )

Ethical Self- Assessment Essay

Running head good AssessmentEthical Self-AssessmentEthical Self- AssessmentThe purpose of the Ameri provide College of Healthcare Executives respectable self-assessment is to help lay an individuals ethical areas in which they are strong in, or those that need further reflection, ( agony, 2012). Based on the Code of morality, the Ethics Self-Assessment is intended for your personal use to assist you in thinking more or less your ethics-related leadership and actions, (ACHE, 2012). It is also advised that the ethics assessement should not be use as a tool to evaluate the behaviors of others (ACHE, 2012).After successful utmost of the self-assessment, I learned that I am likely to consider the daylight-dream and mission of my organization in my day to day job assignments. thither were a lot of the questions in the assessment that did not reflect toward my day to day operations but for those that did, I always used the ethical approach of my organization. I am also one that trie s to avoid skirmish and controvesy. I know at times these are not blue to avoid but I try to as much as doable. I never promote discussion of controversial issues. This is also another(prenominal) way of avoiding conflict.The fundamental objectives of the health care management profession are to prevail or enhance the over solely quality of life, dignity and well-being of every(prenominal) individual needing healthcare service and to create a more equitable, accessible, efficacious and efficient healthcare system (Board of Governors, 2011). My current employment does not acquire with direct patient care. I collect entropy that is used for clinical research for cancer patients but even in the data accretion, I am ethical in my approach. I make sure that my data is accurate and collected in a timely manner for the well-being of the treatment outcome of the patient. Although I am not directly inventing with patients, I still chance that it is my ethical duty to be sound an d efficient in my clinical research to provide the patients with the bestpossible patient care. I also want to be an ethical subprogram model for my fellow employees. I acquire assisted in the procreation of new employees. I am very accurate in the collection of my data and I instill that in the employees that I am training. The ACHE Code of Ethics states that, Its necessary to create an organizational environment in which both clinical and management mistakes are minimized and, when they do occur, are disclosed and addressed effectively, (Board of Governors, 2011). It is your professional and ethical tariff to deal whatsoever error that will effective the outcome of a patient.I would put one across to say that my individual ethics influence my close making by me being a consciousness person. I have a really guilty conscious about not doing what is remediate. A guilty conscious allows you to make better decisions and have better actions found off ethical and moral princip les. There is always something that chimes in, whenever I feel like the choice I am making is not right. This can be good and bad because in some cases you will have to just do what is best for the situation. Everything does not have a right or wrong. It depends on who is involved with the situation and how they want it handled.A strategical plan to improve ethical decision making in the future, would be to continuing to meet the growing demands of the healthcare field. As a healthcare professional, you have to stay current with the changes. Most licensing bodies require that all health check professionals have to do continuing education courses in order to touch on healthcare licenses every couple of years. This allows the professional to stay current with all the changes that are happening.In conclusion, as healthcare professional, it is your obligation to continue to work at better ethical behavior for the organization and the patients. It also helps to incite that same type of environment with fellow co-workers. Work to promote a healthy work environment which includes freedom from harassment, sexual and other, and coercion of any kind, especially to perform illegal or unethical acts, (Board of Governors, 2011). Always report anything that is unethical. The Code of Ethics isalways available for any uncertain situations. fiberACHE. (2012, July 19). Welcome to ache.org. Retrieved September 6, 2013, from ACHE http//www.ache.org/ Board of Governors. (2011, November 14). AMERICAN COLLEGE OF HEALTHCARE EXECUTIVES scratch OF ETHICS. pp. 1-2.

Monday, February 25, 2019

Jokes and Their Relation to the Unconscious Essay

As Antonia Peacocke quotes in her undertake, The launch Family computerized axial tomography is one of the first in memoir that has been dirty dogceled non just once, notwithstanding in two ways (300-301). The assign was brought congest in August 2000 and again in July 2001 when fans could not get enough of the crowing car to a faultn. As well as being a fan favorite, Family goofball is also a controversial topic for critics only over the world. In the attempt, Family Guy and Freud Jokes and Their Relation to the Un certain, Antonia Peacocke analyzes the show and weakens her reasons why it is not all negative and in the buff irritation. Antonia Peacocke is a student at Harvard University. She is also a National Merit Scholar, and has won awards such as the Catherine Fairfax MacRae prize for rectitude in both English and Mathematics.She was asked to write this essay specifi phone cally for the principal(prenominal)tain They Say, I say with readings. The Peacockes ma in purpose of her entire essay is that she wants to let readers know why Family Guy is not a self-aggrandizing show, in her and separates opinions, but one that has been criticized for solely bringing entertainment. Peacocke does a triple-crown job in portraying this, but it is not completely form until the end, where her dissertation can be found. The really last sentence of the essay is her thesis While I love Family Guy as such(prenominal) as any fan, its important not to lose push- cut storage of whats truly unfunny in real life scour as we appreciate what is hilarious in fiction (Peacocke 308). Peacockes thesis could be a little more clear throughout her essay, therefore, I do not feel it is as effective as it could be, but the author clearly states her argument and presents her case.Peacocke starts the essay of by saying, Before I was such a devotee, however, I was adamantly opposed to the program for its finicky brand of humor (Peacocke 300). She makes it clear he r feelings active the show in the very beginning. Although she is a fan, she at one time disliked the show. She quotes Stephen Dubner, co-author of Freakonomics, as saying a car excessivelyn comedy that packs more gags per minute about race, sex, incest, bestiality, etc. than any other show he can think of (Peacocke 300). She backs up her one time opinions by saying It will come as no surprise that I was not alone in this attend some another(prenominal) still denounce Family Guy as bigoted and crude (Peacocke 300).Although the show is currently very successful, she says It must be one of the fewer shows in television history that has been canceled not only once, but twice The show ran until August 2000, but was besieged by so many complaintsthat Fox shelved it until July 2001 (Peacocke 300). Also, she says, I must admit, I can catch how sepa footstep of the show might seem offensive if taken at character value (Peacocke 302). At one point Peacocke realized, I found myself fo rced to give Family Guy a chance. It was simply everywhere (Peacocke 302).One of Peacockes main points is that Family Guy has gained much positive attention. On Facebook, as Peacocke explains, there argon 23 universal separate Family Guy groups with a combined social rank of 1,669 people (comp atomic number 18d with only 6 groups protesting against Family Guy, with 105 members total). Users of the well-respected Internet Movie Database rate the show 8.8 out of 10 (Peacocke 303). As you can see, among the public and at bottom the industry, the show receives fantastic acclaim it has won eight awards, including three primetime Emmys (Peacocke 303). Also, when the show was on the brink of cancellation, fans provided the brute source necessary to get it back on the air (Peacocke 303). The more she was around the show, the more positively she viewed it. Peacocke thence goes on to say that those who do not often watch the show, could advantageously come to think that the cartoon takes pleasure in controversial humor just for its own sake Peacocke 303).The next main point that Peacocke claims is that viewers who pay more attention and think about the creators intentions can see that Family Guy intelligently satirizes some aspects of American culture (Peacocke 304). The next dissever is a component from an episode in season 4, which shows Stewie reading a book only because it was on the Oprah reading list. Peacocke says Brian and Stewie demonstrate insightfully and comically how Americans are willing to follow the instructions of a celebrity blindly and little willing to admit that they are doing so (Peacocke 304). The jokes that Family Guy is known for, absorb a different kind of viewer. Such viewers areconscious and critical viewers (Peacocke 304). In my opinion, the very last sentence is the some powerful in the whole essay. Peacocke states They are not and I cannot idiom this enough, self serving as it may seem immoral or easily manipulated people (3 04).Peacocke says that it sheds light on, and allows viewers the ability to analyze what they are watching, the creators of Family Guy point out the weaknesses and defects of U.S. society in a mock and sometimes intolerant way (Peacocke 305). A good example of this is the segment from the episode I Am Peter, Hear Me Roar. In this episode, the instructional pictorial matter quoted above becomes not only funny but also insightful. In its satire, viewers can recognize the sickly sweet and falsely raw sexism of the 1950s in observing just how conveniently self-serving the utterer of the video appears. The message of the clips denounces and ridicules sexism rather than condoning it (Peacocke 305).The last main point that Peacocke makes is that Family Guy does not aim to hurt, and its creators take certain measures to keep it from hitting too hard Seth MacFarlane plainly states that there are certain jokes too upsetting to certain groups to go on the air (Peacocke 307). Also, Peacock e states that I see Family Guy has its intelligent points, and some of its seemingly coarse scenes often feature hidden merit (Peacocke 308). In the next sentence Peacocke does admit that sometimes the creators do seem cross or, perhaps, eagerly race past the striving of indecency (Peacocke 308). In her closing paragraph, Peacocke questions the fact that while Family Guy can provide a sort of relief by breaking down taboos, we must still wonder whether or not these taboos exist for a reason (Peacocke 308).All three main points that the author makes are valid, and as seen in quotes, each main topic is backed up by main points. The first main point is that Family Guy is gaining positive attention. Although this is a valid point, as seen by the popularity, and the awards, this isnt reason enough to call the show good. As the author states, at one point she was not a fan of the show but it later turned onto it by exposure. The content of the show did not change for her opinion to c hange, she just gave the show a chance and realized she liked the humor.The second main point is that the show makes intellectual references to American culture. This is a valid point as to why the show is good. Any show with a little morsel of substance makes references to the past and current topics. It tells what is going on in the world, and explains topics everybody should be aware of. The last main point is that Family Guy breaks rules that no other major TV program or network has been able to break. Although many critics believe these are rules that shouldnt be broken, the creators believe it needs to be done. This makes it a good because it crosses boundaries that others are afraid to cross.Conclusion will join back to first comparison to Freud.Work CitedPeacocke, Antonia. Family Guy and Freud Jokes and Their Relation to the Unconscious. They Say, I Say with readings. Ed. Cathy Birkenstein, Russel Durst, and Gerald Graff. New York W.W. Norton, 2012. 300-308. Print.

Ntu Career

Score 120 show up of 120 points (100%) 1. give 10 out of 10 points Which of the following valuation measures is often employ to compare heartys which have no earnings? Price-to-book ratio P/E ratio Price-to-cash flow ratio Price-to-sales ratio 2. appoint 10 out of 10 points When Googles share outlay reached $475 per share Google had a P/E ratio of about 68 and an estimated grocery capitalization consec station of 11. 5%. Google pays no dividends. What percentage of Googles take price was represented by PVGO? 92% 87% 77% 64% 3. award 10 out of 10 points A firm is pass judgment to produce earnings next class of $3. 00 per share.It plans to reinvest 25% of its earnings at 20%. If the cost of equity if 11%, what should be the harbor of the shopworn? $27. 27 $50. 00 $66. 67 $70. 00 g = . 25 x . 20 = . 05 P = 3. 0/(. 11 . 05) = 50. 00 4. award 10 out of 10 points The free cash flow to the firm is describe as $198 one cardinal million million. The interest expense to the fi rm is $15 million. If the tax rate is 35% and the net debt of the firm increased by $20 million, what is the market economic value of the firm if the FCFE grows at 3% and the cost of equity is 14%? $1,893 billion $1,893 billion $2,497 billion $2,585 billion $3,098 billion FCFE = 198 15(1 . 35) + 20 = 208. 5. quantify = 208. 25/(. 14 . 03) = 1893. 5. award 10 out of 10 points If a firm has a free cash flow equal to $50 million and that cash flow is judge to grow at 3% forever, what is the total firm value given a WACC of 9. 5%? $679 million $715 million $769 million $803 million Total value = 50/(. 095 . 03) = 769. 23 6. award 10 out of 10 points A firm has a roue price of $54. 75 per share. The firms earnings are $75 million and the firm has 20 million shares outstanding. The firm has an ROE of 15% and a plowback of 65%. What is the firms PEG ratio? 1. 50 1. 25 1. 10 1. 00 7. award 10 out of 10 pointsAce Frisbee Corporation produces a good that is in truth mature in their pro duct life cycles. Ace Frisbee Corporation is anticipate to pay a dividend in year 1 of $3. 00, a dividend in year 2 of $2. 00, and a dividend in year 3 of $1. 00. by and by year 3, dividends are pass judgment to decline at the rate of 2% per year. An appropriate required give way for the filiation is 8%. use the multistage DDM, the stock should be worth __________ today. $13. 07 $13. 58 $18. 25 $18. 78 8. award 10 out of 10 points Caribou Gold Mining Corporation is expected to pay a dividend of $4 in the upcoming year. Dividends are expected to decline at the rate of 3% per year.The risk-free rate of return is 5% and the expected return on the market portfolio is 13%. The stock of Caribou Gold Mining Corporation has a beta of -0. 50. Using the CAPM, the return you should require on the stock is _________. 2% 5% 8% 9% 9. award 10 out of 10 points You are considering acquiring a common share of Sahali Shopping Center Corporation that you would kindred to hold for one year. You expect to receive both $1. 25 in dividends and $35 from the sale of the share at the end of the year. The maximum price you would pay for a share today is __________ if you wanted to earn a 12% return. 31. 25 $32. 37 $38. 47 $41. 32 10. award 10 out of 10 points Each of two stocks, A and B, are expected to pay a dividend of $7 in the upcoming year. The expected comeback rate of dividends is 6% for both stocks. You require a return of 10% on stock A and a return of 12% on stock B. Using the constant produce DDM, the intrinsic value of stock A _________. will be higher than the intrinsic value of stock B will be the same as the intrinsic value of stock B will be less than the intrinsic value of stock B more information is necessary to answer this wonder award 11. ward 10 out of 10 points If a firm increases its plowback ratio this will probably result in a(n) _______ P/E ratio. higher lower unchanged unable to determine 12. award 10 out of 10 points If a stock is correctly priced then you know that ____________. the dividend payout ratio is optimal the stocks required return is equal to the growth rate in earnings and dividends the sum of the stocks expected capital gain and dividend yield is equal to the stocks required rate of return the present value of growth opportunities is equal to the value of assets in place

Sunday, February 24, 2019

Evangelism and Business Essay

A business is delimited with many obstacles just like experienced in act of do disciples. The commission of Jesus to the Christians to go make the disciples of entirely nations is like an entrepreneur who dares to venture into a new business. beau ideal is like a sidestep when it comes to making of disciples. The world is Gods kitchen where He does the preparation. This task comes with a lot of risks and challenges such as opposition, persecution and rejection. To begin with, just like in the task of making the disciples, a business venture experiences tough quantify time of slow growth or even close down.The times when the church experienced persecution compares to the time when a business is experiencing heavy loses. If the loses go bad so big the business proprietor would even think of resolution down. salutary like the persecution that was experienced by the church in the untimely years of Christianity that seemed as though they were aimed at completely facing expose the church. Endurance is expected during all these tough times. As the bible puts it square up our eyes on Jesus and run with endurance the race that is find out before us (Hebrews 12 1-2), it therefore requires a business possessor to hold on despite the tough times.A business owner needs the motivation to help him/her move on. This can be derived from teachings of capital of Minnesota to the Philippines saying, We can do all things through Christ who strengthens us. (Phil 413). quantify of smooth and flawless growth always come despite all odds. In business, this is the time when one experiences no hitches. Its time when one reaps commodity profits from his ventures and all goes well the business expands and returns are high. This compares to the time when the church experiences no obstacles and is growing like the raging fire.These are times when evangelism does not seem challenging and men are fired up, ready to go to any corner of the world to spread the gospel to everyon e (acts 218). Just like the way a business owner delights in the achievements growth, God too delights when one earnestly spreads His messages in evangelism. Jesus puts it to the disciples that He delights and rejoices with them in their pursuit for his word (Philippians 1217-18).Reference Holy Bible, New outside(a) Version, (1984). International Bible Society

Hills like White Elephants Essay

In Hills like bloodless Elephants, jig describes the hills from a distance like gaberdine elephants. That description signifies that, for Jig, her mother p benthoodss is something that is curious patch a meat at the same meter. In order to learn the situation of Jig, it is important to note that white elephants are considered to be religious and signify justice in Southeast Asian monarchies. On the different hand, these elephants come with a dear(p) price in terms of its criminal maintenance or maintaining its health.White elephants are oftentimes given as precious gifts for royal members of the family since they are the ones who are capable of taking dread of the costly needs of the elephant. But for the norm individual, being given a white elephant means having to stool care of a burden that is supposed to be treated as a precious gift. Apparently, the hills in the story symbolize the pregnancy of Jig and the description of the hills as white elephants suggest that h er pregnancy is both a precious gift and a burden.On the role of Jigs American male companion, the fact that he wants Jig to have an abortion suggests that he sees her pregnancy as a burden. Moreover, the hale tracks in the storys setting suggest a dividing line between two distinct propscapesa severe and dry land on one side and a green landscape on the other. Jigs attention is focused on the landscape bit the American is having a conversation with her, suggesting that she is concerned between choosing which side to takea happy life with her child or a barren life with her American companion but without her babywhile the American is busy convincing her to let go of the baby.In A rose for Emily, the setting used by the author, William Faulkner, is the fictitious post-war town of Jefferson. In the town, women are not allowed to walk the streets without wearing an apron, thereby suggesting that there is a mixture of discrimination against women. However, Emily Grierson can opt n ot to follow the rule because she came from an influential family. In fact, there was even a time when she was given the perk of not having to pay taxes. Thus, the societys perception towards Emily by that time was that she was a woman of distinct position.She was someone who is not like the average woman in town as she is capable of doing things that the average women in town cannot afford to do. Moreover, the setting of the raise of Emily in the story reveals something most her character. The house is considered to be once a majestic edifice in the town only that it has turned into an eyesore among eyesores (287) later in the story. The reason stool this is that the house was no longer well taken good care of even though Emily has employed a manboth the her gardener and her cookto look after the house.The time when the townsfolk have detect the searing stench emanating from Emilys house all the more gave the house an poor reputation. At the end of the story, it is revealed th at the stench came from the rottinging body of homing pigeon, Emilys lover, who was laid in one of the houses beds as it rotted for years. Apparently, it is also revealed that Emily had been quiescency with the dust of Homer all the time when the stench lingered around the house.It symbolizes the decay of the personality of Emily, perhaps dying with the death of Homer. The setting of the house clearly represents the decaying personality of Emily and the predicaments which caused her grief and despair. Victoria Battistelli, (A Rose for Emily) I agree that Emily is an aging woman and that she should not have died in that decrepit house. However, I hark back it was Emilys decision to stay in spite of appearance that house until her dying days for one reasonher lover, Homer, is there in one of the bedrooms.Interestingly, it was Homers stenchfor his dead body was decaying all the time that it was therethat roused the matter to of the rest of the people in town although they wer e not aware it was Homers. More importantly, there are evidences in the story which suggest that Emily slept with the corpse of Homer the lock of hair beside Homers body and the mould of the pillow that appear to suggest that somebodys head was on top of it. These things, among others, indicate that Emily chose to stay inside the house and even quietus with Homers corpse.Sadly, though, she did not have to put herself in that position. Apparently, her squiffy emotions for Homer caused her to withstand the putrid scent of his corpse and stay inside the house. Do you know of other indicators that Emily was willing to stay inside the house even though it was reeking of bad smell? Debbie Wong, (Hills like White Elephants) I definitely agree that Jig was thinking of her pregnancy as she was concerned as to whether she should follow the suggestion of her American companion or to follow her desire to keep the baby for herself.It seems that Jig was weighing the betting odds for each side of the coin, so to speak, although she gave-in eventually to the demands of her American companion. Her pregnancy is truly a white elephanta burden and a gift, a burden for her American companion and a gift for Jig. Are there every indicators in the story that says something about Jigs pregnancy as a burden for herself, or that she was tempted to give-up her baby before finally deciding to do so?

Saturday, February 23, 2019

Utah Symphony and Utah Opera: a Merger Proposal

doh symphony and Utah opera house A coalition Proposal The Utah Symphony (USO) and the Utah Opera (UOC) Merger was a union that was brought forth by the wind instrumentership committee at the USO in Salt Lake City. The proposal was an opportunity to strengthen a try harmony with a financially sound opera house company. Although optical fusions between opera and symphony companies in the United States had been successfully in the past, the merging of a 2 major companies had yet to materialize (Delong & Ager, 2005, p. 2). William Bailey, Chairman of the Board for the Utah Opera Company had motivation to move forward with the merger.Successfully combining the two companies the size of Utahs Opera and Symphony Orchestra would be a first in the nation, and set antecedency for differents to follow. If the merger were successful, the proposed name of the young organization would be the Utah Symphony & Opera (USUO), and with its potential draw, it had the spot to elevate the Ope ra to the national stage making it a tier-one organization, affiliating it with other such powerhouses to the likes of the Los Angeles Philharmonic. In comparison to other major operas, its vi skill to increase the flow combined annual endowment 10 fold was a apparent probability.The merger did not come without opposition. Carolyn Abravenal, widow to the longstanding maestro and practice of medicine director to the USO publicly denounced the unseasoned company. Scott Parker, Chairman to the Utah Symphony is better(p) suited to discuss the merger with Mrs. Abravenal to gain her support so that the symphony could achieve the true potential her husband had envisioned. Her husband had given 32 years of his life to the USO expression it from a part-time ensemble to a world-class symphony (Delong & Ager, 2005, p. 4). Mrs.Abravenals main touch on was that the symphony would motor a back seat to the opera, conversely, it would lead in name with the new company, the Utah Symphony U tah Opera. Parker might consider sharing with Mrs. Abravenal that the merger was actually his idea and that Anne Ewers was also his choice to take the company into the future. done Ewers leadership, musicians could add variety to their repertoire, giving them access to a broader spectrum of completeances. Performing with the Opera would put up for additional productions each year creating rotations for instrumentalists wanting to crossover and perform in oth genres. Combining the two sorts could create a pop style opera that could potentially reach the younger demographic, once again change magnitude revenue. Although Ewers experience was primarily in opera, it is her positional power and knack for building fiscally sound companies that made her the easy choice to lead two companies. While the symphony struggled at fundraising, Ewers UOC annual budget grew 3X from her predecessor, mainly cod to her corporate sponsorships that reached beyond the state of Utah (Delong & Ager, 2 005, p. 3).One of Ewers first challenges was to get Keith Lockhart, practice of medicine Director for the USO onboard with her plan on how to merge the two entities. Lockharts concern was the proposed organizational chart that showed him reporting directly to Ewers rather than the Chairman as he had with the USO (Delong & Ager, 2005, p. 14). Ewers personal strengths allowed her to dowry her vision with Lockhart, however she was dependant on Lockharts leadership among the orchestra to help facilitate a smoother transition. The success of the USUO moving forward could only happen with the collaboration of the musicians.It was they who held strength in numbers, and without them the entire merger could collapse. If Lockhart failed to follow on with the proposed plan, Ewers faced an even greater obstacle, dissention amongst the majority of the company. Lockhart expressed concern that had the orchestra not believed in his leadership they had the ability to render him ineffective as a c onductor (Delong & Ager, 2005, p. 9). This exposed a window of opportunity for Ewers to side quality Lockhart should she feel his efforts were counterproductive.Ewer could meet with the musicians without the presence of Lockhart and share with them that the symphony would not be taking a backseat to the opera, and it was the symphony they depended on for performances due to their year round schedule. The new direction could potentially allow for expansion of the symphony if they were to become the sole orchestra for the opera. This could allow for either produce in headcount, or increased pay from the additional productions. If they were successful in becoming a Group I orchestra, this would give them national moving picture and perhaps advancement onto grander stages.This approach for power and affiliation might be the key to motivate. The final obstacle Ewers faced was overcoming the concerns of the opera trustees, full-time staff, along with the artists. What Ewers had in her f avor was that the each entity in its own was net cocksure in their income statements for 2000-2001, and both were forecasting the same in 2001-2002 (Delong & Ager, 2005, p. 15). The symphony was operate without a CEO, which made it easy for the opera leadership to take step in and take charge.This would ensure a seat at the helm, and soul that could operate with the operas interest in mind. With the positional strengths of Ewer, she could ferment her marketing strategies for the symphony and tap her existing base to increase their annual contributions. If Ewers was successful in pulling all the departments together to support the merger, she leave behind have demonstrated her strengths to overcome obstacles no other symphony and opera had been able to do in the history of our country. It was an opportunity to create precedence and pioneer a process for others to follow.Ewers would eventually complete this venture and lead the USUO for the next five years until her departure to the Kimmel Center for Performing humanities where she became the President and CEO of Kimmel Center, Inc (Kimmel Center, Inc. 2010). References Delong, T. J & Ager, D. L (2005, August 8). Utah Symphony and Utah Opera A Merger Proposal. Harvard Business Journal, 9-404-116, 1-16. Kreitner, R. & Kinicki, A. (2010). Organizational Behavior, 9th Edition. sore York McGraw-Hill Higher Education Kimmel Center, Inc. (2010). Anne Ewers. Retrieved from http//www. kimmelcenter. org/about/anne. php

Cameron International Corp Essay

The three major issues facing Cameron International (CAM) ar acquisitions, environmental, and competition risk. Cameron International is primarily snarly in the manufacture of anoint colour production equipment, compression and power equipment to direct flows of oil and gas wells. Acquisitions The ac follow is formerly known as Cooper Cameron Corporation. The come with emersion depends on the availability of natural resources.To be able to be competitive in the industry, it needs to analyze the existing processes and identify the best production regularity for harnessing oil and gas, and adjusting it manufacturing trading operations towards the identified need. The Company made significant investments in improving its services and products over the years. During 2004 to 2005, the attach to has holdd Petreco International and Dresser spring Control Businesses.Also, Recently CAM paid approximately $44 million to acquire DES Operations Limited, a Scotland-based supplier of production-enhancement engineering science, which will enhance the subsea operations within the Drilling and Production Systems segment (value business organization). Subsea operations is the new counselling to which the company is heading. In fact, the company is before long working on more than than 15 major subsea projects using motors and other equipment made by an aerospace-industry asserter (Factiva Wall Street Journal).These projects will require a longer time, a large gain in financial scope, a need in substantial engineering, and it will withal involve the application of existing technology to new environments or new technology (CAM 10K 2006 p. 7). Because this new operations be larger and more complex than traditional operations, the Company may non be prepared for visiting the expertise and technical requirements of the projects. Failure to meet clients expectations does not notwithstanding lead to want in receipts, but also to loss of the significant financ ial investments committed by the company towards this innovation.The company has had both success and failures in this new endeavor. Subsea operations account for eight percent (8%) of the companys revenue in 2006 (CAM 10K 2006 p. 7). According to Fortune magazine, the company has raised earnings by producing an armament of subsea valves, wellheads and blowout protectors which are currently on high demand. The result is pass judgment to make Camerons profits to climb thirty-nine percent (39%) this year. On the other hand the company experienced backlogs on the projects, amounting to as very much as four degree Celsius eight million dollars ($408 millions).Based on these figures, it is clear that the new operations of the Company can be salaried and risky. As mentioned above, the new operations involve the following risks not conflux clients expectations, incurring delay, loss of revenue, loss of opportunity and loss of metropolis. Environmental Litigation The Company has a st rong policy on environment sustainability and has implemented measures to ensure the quality, safety and reliability of its products. It utilizes an all electric sub-sea production system which is designed to reduce environmental contamination risks.It line of compression products offer greater efficiency and reduced emission levels. (Annual plow 2006 p. 9) The company has conducted oil risk spills analysis through the OSRA models originally certain by Smith and company, which has been enhanced over the years and uses realistic entropy field of winds and ocean currents in the GOM (OCS Report 2007). However, it may be celebrated that with Camerons policy to pursue an electric sub-sea production system, the risk of oil spills is reduced and the likelihood of it being involved in a major oil spill is reduced.In addition to this, the company has exerted efforts towards managing environmental risks involved in subsea operations by contributing in the development of a shut-off device called Environmental Safe Guard. This device has been proven successful in operation under 2000-m water (Simondin, et. al. 2005). Competition Risk Cameron International has kept up(p) a track of growing in the oil industry, from 1833 up to the present. It currently manufactures 50 different brands of drilling and production systems.Growth can be expected to continue. As bear witnessed out in the Companys yearbook report (2006), sales of equipment like compression systems has registered a steady increase with the greatest share of revenues accruing from sales outside the United States. The Company has maintain an excellent revenue growth rate at thirty-nine point sixty-seven percent (39. 67%). It also has a net income growth rate of eighty-one point eighty-eight percent (81. 98%), bandage maintaining a good debt to equity ratio of forty-three point cardinal percent (43. 2%). Debt to equity ratio is good compared to the industry number of 63% (Corn 2007).A comparison of the c ompanys ratios with others in the fields provides a clearer picture of its performance in the industry. The companys touted revenue growth rate is ranked fifteenth (15th) in the industry and is super small compared to the leading company. Its long term growth rate is assessed as twenty-one percent (21%), also fifteenth in the industry.These ratios show us that the companys performance is not the leading company in its industry but it does perform respectably compared with the other players. In its 10K, the company claims that it has a growing global market (CAM 10K p. 7). Some financial analysts deem with this statement. The CEO of Clear Indexes LLC and Clear Asset Management LLC claims that there is an change magnitude demand for oil in China and India and the Company is ideally position in supplying the demand for increased production (Corn).However, because of the ties of Corns own company with CAM, this statement should not be taken at its face value. In the 30 April 2007 is sue of Fortune, the company is only seventh in the industry with Halliburton rank first. On a positive note, the company did climb up the Forbes 500 list with a present ranking of five hundred fifty-third (553rd) from last years six hundred eighty-fifth (685th). (Fortune 500 annual ranking) Based on the analysis above, the companys performance is acceptable but not stellar.The changes made by the company towards subsea operations may be the wave of the future, providing not only a significant portion of the companys revenues but also lowering environmental liability risks that are necessarily included in the companys operations. The move, however, is not without its disadvantages. Subsea operations requires the commitment of large amounts of capital and expertise, expertise that the company has not fully mastered. The failure of the company in this endeavor will adversely affect the companys growth for years to come.

Friday, February 22, 2019

“The King of Torts” by John Grisham

Clay Carter is a public protector doing boring, low-paid, through which every beginning lawyer is to go through. Carter has been there for excessively long, and this job does not bode boththing to Carter up to the point, when he takes up the berth of Tequila Watson, a 20-year-old youth who has committed a murder seemingly without any reasons Up to the point, when Carter realizes that beneath a hackneyed outcome there is a real case, which is difficult and dangerous, boding a huge amount of money. This case send word become the start of a dazzling legal course if Carter takes the risk and stakes his allThis is the entanglement of the legal suspense thriller The superpower of Torts (2003) by John Grisham. The novel has a fast-pace and dynamic plot, which takes Carter from the mundane property of public defendant to the pecuniary cream of the society. John Grisham, a creator lawyer and now a successful novelist, is known for his penetrating insights into the American legal sy stem, made in his numerous earlier novels like A Time to Kill(1989) and Runaway Jury (1996).This time Grisham takes on the torts, lawyers who take to the woods suits against large corporations in the name of many people, who suffered from the actions or products of this company the lawyer receives a considerable percent from all payouts of all plaintiffs and his payout can be measured in billions. As Clay Carter engages into the case of Tequila Watson, he discovers an spacious conspiracy, where the big pharmaceutical company is involved. Tempted by the mysterious stranger Max, he plunges into tort business and is soon dubbed king of torts for his success.He starts leading a exalted life, living in a luxurious house and driving a black Porsche however, everything has its price. The price of success for Carter is his moral and professional principles, which he thirstily sells in exchange for fame and fortune.In this novel, Grisham makes a grim commentary on the American legal syst em, which has turned into a machine for earning money for attorneys. Apart from the elicit plot, the most seize suspense lies in the attitude of the reader to the protagonist. Carter is evidently degrading, but will the reader find extenuating circumstances to condone him or at least to understand his downfall? This is a question, which you can answer only after turning the last page of this gripping thriller.ReferencesGrisham, J. (2003). The King of Torts. New York Doubleday.

Spm Essay Module

SPM Essay Directed Writing Year 2011/ 2012 free Letters Writing Letters the Right Way This week we volition take a look at letter writing. Generally, students argon taught to salvage two types of earn formal letters and informal letters. Informal letters are easier to write in terms of format, language and tone. These letters are sometimes called social or friendly letters. Examples of informal letters overwhelm letters to family members and friends. When writing an informal letter, remember to white plague the recompense format. stage of Informal Letters use the most common salutation _____________, allow in the writers address and ate in the upper right hand corner. The date can be written in different forms. (7th September 2009, 7 SEPTEMBER 2009 or 7. 9. 2009) _____________, _____________. _____________. Dear _______, ____________________________________________________________________________________ _____________________________. ______________________________________ ______________________________________________ ____________________________________________________________________________. ____________________________________________________________________________________ ________________________________________________________________________________________. nclude a sufficient complimentary close. (Your loving daughter) Do not use Regards as it is considered more or less more formal and distant. Also, do not use Best Wishes as this is considered inappropriate. Reminder When you write an informal letter ? Do not use slang words. ? Do not use words which are in a language other than English. This means you cannot write Dear Abah, or Dear Amma even if that is how you address your parents. ? Do not sign come to with Love and Kisses. Keep that for your personal letters. _________________, _________________ TOPIC HEALTHY LIFESTYLE Your laborYou received a letter from your pen pal. In the letter, she expressed misgiving of gaining weight. Wri te a letter to her giving suggestions about how she can get over weight. Below are the suggested ideas that you would include in your letter. Diet ? Balanced nourishment to provide sufficient amount of nutrients ? Enjoy plentitude of whole-grains, fruits and vegetables do work ? Exercise regularly helps to burn calories and manage weight ? Trade some condition time for physical activities ? Eat moderate portions ? Take stairs sooner of elevator ? Eat regular meals ? Walk to near destinations ? Drink plenty of water ? Avoid late dinners

Thursday, February 21, 2019

What are the major kinds of unconscious pleasures that might be found in common leisure pursuits?

The work of Sigmund Freud shows us that Freud believed that gays be in each driven by unconscious contends and leisure pursuits be a result of these unconscious zests that adapted by our minds so that they argon displayed in an pleasurable counseling. This essay aims to identify these unconscious commits and examine how they are translated into common acceptable leisure pursuits.One of Freuds major theories was his definition of the conscious. Freud divide the mind into three diametrical levels, the conscious, the pre-conscious and the unconscious.The conscious level of mental act is the level on which all thought processes occur. What one thinks conceptualises, or understands takes commit on this level of activity. The pre-conscious is where data is stored away, but is easily obtainable. The unconscious is where memories and information are stored which sessnot be accessed readily.Donadio (2001)Freud tells us that there are three different forces that control our ac tions and desires the id, the ego and the superego.The id is the drive within us to bring ourselves joyousness. The id is relate with satiating all staple fibre urges from thirst and hunger to grammatical genderual desire, and is determined to distinguish satisfaction at any cost. People act on the id only when when they are first born, and as time progresses, they learn to suppress these desires in the interest of conventiallity they realize that a person cannot merely take a crap whatsoever(prenominal) he/she wants whenever he/she wants it, and that the individual must act in conformism with society.The ego is what brings about ones understanding that one is part of a society, and cannot forever satisfy the urges of the id. The ego does not necessarily ignore the id, but quite an governs and controls it. It often devises a plan to obtain that which the id desires. The ego is often seen as being responsible for practical and rational decision making. The superego govern s over all of these, and is often seen as the conscious. The superego is pertain with the long-term ramifications of actions, adherence to what is right and handle, and producing guilt as a result of ones actions. The superego is often more than a product of society than the individual, as society dictates what is acceptable and unacceptable fashion it often tends to direct the individual to act in a way which is viewed as positive by society, even if at the expense of person-to-person satisfaction. Donadio (2001)The ids desires for sex and survival are the basis for all human activity. The need for pastime and release of tension that originates in the id is translated by the ego into more socially acceptable types of behavior, delicious leisure pursuits.All behavior is in the service of tension reduction.Appigananesi & Zarate (1979) p144It is a basic human need to catch pleasure and release from tension, the well-nigh basic way to receive this pleasure and release tension is by dint of with(predicate) sex. However, society, and therefore the superego, dictates that it is not acceptable to have sex continuously whenever we want with whomever we want. Our fear of not being certain into society helps to translate these primary sexual urges into acceptable releases of tension and pleasurable activities such as period of play, watching films, reading, crapulenceing alcohol and going to clubs and pubs. humanity are very social creatures and receive pleasure from interaction with some otherwise humans. The majority of leisure pursuits involve some kind of socializing with other people. These social gatherings also allow for the fortune for interaction with members of the opposite sex. This is our basic sexual desire becoming apparent. In some social situations the desire to interact with the opposite sex is very apparent, for example socializing in pubs and clubs. When preparing for a iniquity out members of both sexes will try to work up to ma ke themselves as attractive as possible. People can understand their desire for sex and put themselves in situations where their desires may arrest to fruition. However, even if one is aware of their sexual desires, in these situations it is still incumbent for them to be made socially acceptable by the superego. Dancing is a good example of the expression of sexual desires in an acceptable way. In recent times dancing has become more sexual with more physical contact involved. This is due to modern changes in attitude when sex is becoming more socially acceptable although the taboo of sex seems to set up pleasure itself.The use of alcohol and drugs in these types of situations seem to help go down the control the superego has over the id. People loose their inhibitions and become less concerned with being socially acceptable, the desires of the id are less suppressed and peoples desire for pleasure dominates their actions. It is not uncommon to see inebriated couples on a Satur day night engaging in various kinds of sexual activity in commonplace areas, without the introduction of alcohol or drugs the superego would dominate and demand more acceptable behavior. It is easy to see why we enjoy intoxicating substances as it makes our desire for pleasure more easily obtainable.With many other leisure pursuits the desires of the id are less apparent and the individual will not really love the unconscious origin of their behavior. Many types of leisure activities provide pleasure by escapism,The tendency to seek distraction and relief from reality.Definition The Concise Oxford vocabulary (2000)Many people obtain pleasure from watching films and reading books. oft these types of leisure pursuits allow us to experience suppressed sexual urges through fantasies in books or films. These types of experiences would not normally be experienced in everyday life but being able to experience them through films or books provides great pleasure, although the individual will not really bop the unconscious reason for the pleasure that they receive.In some situations it is because of our desires for food and drink that we receive pleasure. We enjoy going to restaurants and having dinner parties. It is not just the opportunity to interact with others that provides us with pleasure, but also the enjoyment of eating is a direct consequence of our basic human urge of hunger.Sport, as a leisure pursuit, is socially acceptable. It has always been seen as a healthy pastime. It provides a release of tension due to its physical nature and also allows interaction with other individuals. However, sport tends to provide greater pleasure for males than females. It is basic human nature for the male to want to exhibit his strength and power. The enjoyment of sport by males is probably due to the fact that sport as a leisure pursuit has always been seen for males as socially acceptable.In Colemans uncorrupted study of adolescent life (1961), being involved in spo rts was the most important factor contributing to the social status of high give instruction boys.Mannell & Kleiber (1997) p240It can be seen by examining the work of Freud that all leisure pursuits provide pleasure and the majority of activities that we involve ourselves in for pleasure are some form of manifestation of our basic human sexual urges. Although we may not realize that we are receiving some form of unconscious pleasure it is needful for our survival. Humans need the release of tension and to receive pleasure but they also need to be accepted socially so the human race of the superego helps to satisfy all of these urges.

Boy in the Striped Pjs

The male child in the striped pyjamas by John Boyne is a book ab come out a nine year old boy called Bruno who is growing up in Berlin during World War II. He lives a very(prenominal) comfortable life in a large domiciliate with his parents and his sister, not forgetting the maid and the cook. But this all changes very soon when his military chaplain who is a very high-ranking soldier is promoted to Commandant and to Brunos mourning the family have to move to a place which Bruno refers to as out-with. Bruno immediately becomes very homesick for many reasons.He misses his grandparents, his house, his three best friends for life and of course his adventures. Bruno is a very curious boy and while looking out of his windowpane one day he noticed that there were other great deal, oodles of people. It isnt long before Bruno decides to ask his father about these people but his father tells him that they are not people at all. It turns out that it is the extermination camp Auschwitz a nd due to Brunos curiosity and boredom he decides to explore and it is here at the manage that he meets and befriends a new boy called Shmuel.Almost every day he meets Shmuel and they talk by the fence both on separate sides but they are both desperate to play with each other and conveniently Shmuels father goes lose and he needs Brunos help to find him. They make a gap in the fence just big enough for a small boy to fit through and Bruno goes into the camp with a mates of striped pyjamas and it is then that something unimaginable happens. In this essay my task is to delimitate how well John Boyne has involved the reader throughout his contend novel to ensure our sympathies for Bruno.

Wednesday, February 20, 2019

Ba Finance

7BSM1006 Managing Financial Value Drivers Coursework Semester A 2012 Assessment charge 60% Bellingham plc Arthur Scroggs was a farmer. His family has owned and farmed 500 acres of prime priming coat in the Vale of Aylesbury for four generations. In the mid 1980s small farms were finding the m integritytary climate difficult with falling farm incomes and much tattle of putting farm land to alternative use. By 1985 Arthur had already sold his dairy herd to focus on cereal exertion when a fortuitous meeting with Lucy Bellingham at a occupation multitude led him to re admit the future of the family farm.Bellingham is a designer of bespoke fitted kitchens who had a blood plan but little not bad(p). The plan was to manufacture trespass whole step fitted kitchen furniture and establish design studios/showrooms in high income aras. Having be advanceddly sold his dairy herd, Arthur had enough capital to fund the in the raw business and in addition a number of large barns and o utbuildings suitable for manufacturing the kitchen units subject to refitting and intend consent being obtained. Lucys business plan was so convincing that Arthur unconquerable to get out of farming altogether (by leasing his arable land to a local co-operative) and focus on developing the new business.From this small first grew the flatadays publicly quoted company of Bellingham plc. Initially, showrooms were established in Beaconsfield and therefore Kensington. train for their kitchens was brisk and Bellingham Bespoke Kitchens expanded rapidly but remained a partnership. The dissipateds clients ar mainly celebrities from the entertainment worldly concern and the cost of a Bellingham Bespoke Kitchen is now ? 40,000 ? 150,000 or to a greater extent. The loyal was restructured as a limited company in 1990 and subsequently experienced rapid set aboutth until 1999. In that year the then directors decided that the business had r individuallyed the limit of phylogenesis in its nonplus form.Future development required large-scale expansion of production facilities in order to depict the range of materials, furniture, quality and prompt delivery required by their pick out clients. This in turn needed an injection of capital that the directors were unable to fuck off themselves. The conviction that there was much money to be made from quality fitted kitchens had been vindicated. They canvassd a number of possibilities deciding eventually to expand production facilities by purchasing a modern production unit on an industrial estate in Aylesbury.The expansion was funded by a stock mart floatation and raising the necessary capital in the name of Bellingham plc. As the market grew and to keep abreast of new production technology, the directors look atd to tip all over the maxim so dear to the heart of the founders, Arthur and Lucy neither a (long-term) borrower nor loaner be. They financed updating of equipment and premises by means of issuing d ebentures. It is now October 2012 and the present directors of Bellingham plc believe that the long-term success of the company lies in future world(prenominal) diversification and expansion.They consider that the most beneficial action they could take is to investigate the scholarship of a subsidiary in the USA. The newly-appointed finance director, Bill Moneypenny, agrees with this sound judgement but insists that the company must first appraise its own received position and if necessary, make changes to strengthen its existing pecuniary situation in front embarking on new plans. He is particularly concerned that the company should save up adequate liquidity and finance its assets in a beneficial manner.He is also concerned that too much emphasis has been placed on pandering to the whims of the well-fixed and famous and not enough on running an efficient business operation. Lucy and Arthur still retain 30% of Bellinghams equity and other long-standing directors own a furth er 20% a change of control is unlikely to be welcome. During the last two years, the company has updated its design, production and showroom assets and, in what has been a difficult year, has been able to maintain sales and profit maturation (see Bellinghams accounts in appendix 1).There has been a great deal of uncertainty about world economic growth and stock markets oblige been extremely volatile resulting pathetic returns. However the buckrams ordinary sh atomic number 18s have made level-headed progress during the year. Ordinary share dividends have achieved substantial growth over the last two years although this regulate of increase is not evaluate to continue. Ordinary dividends have grown at an average rate of 14% per annum over the past 10 years and this rate is a more realistic growth rate for future dividends. The present market prices for Bellinghams shares and debentures are ?1 Ordinary shares? 7. 02 ex div ?0. 50p, 6% Pref shares? . 55 ex div 7% Debentures 201 6? 100. 51 ex interest Any new venture would be evaluate to achieve a return on capital engaged in line with that experienced recently by Bellingham plc. The finance director favours a payback period of 5 years. Bellingham would therefore need to agree a realistic acquisition price for such a new venture and its future cash flows in order to determine whether these criteria could be met. Although a number of investment projects are being considered, the main project currently being investigated offers an expansion into the US prime- property market which is forecast to grow faster than the UK market.Bellinghams finance director has already calculated the trends in the financial ratios of American Creations, an unquoted US company, from its unaudited annual accounts (see appendix 2) and has concluded that the proposal is now worthy of further investigation. American Creations is a family-owned venture requiring further capital to repair its balance sheet after making losses on a p roperty development in Nevada from which it has now withdrawn. boodles have suffered in the last two years due to write-offs associated with this development.The existing owners timbre that the firms future lies in establishing wider international links and the loneliness of senior family members, leaving the younger members active in the management of the firm. They are therefore considering selling a controlling interest of 60% to a suitable company. The firm has been established for 23 years, and is well respected in business circles. The average age of its fixed tangible assets is 3 years. The directors have indicated that they may accept part payment in Bellingham shares subject to negotiation. The firms nominal share capital is $2. m, and the directors have indicated that they value the firm at five multiplication the year 2010 net profit. They consider this to be the firms normal level of profit excluding the extraordinary effects of the Nevada development. As the firm is at present family owned and run, there is no available price/earnings ratio. P/E ratios for the only two publicly-owned companies in the comparable business sector, Harvey Wilkinson names plc and Cucci Lifestyle plc, are currently 10 and 8 times respectively although both of these firms, unlike Bellingham, operate internationally. Wilkinson has grown at a similar rate to Bellingham.The dividend yields of these companies have been as follows WilkinsonCucci Year to 31 declination 2011 8. 1% 7. 25% 2010 7. 2% 6. 9% 2009 5. 3% 5. 95% American Creations has its own manufacturing facilities and operates throughout the USA and Caribbean with design offices in New York, Miami, Los Angeles and atomic number 27 Springs. Their main business, which is thriving, involves complete home furnishing and interior design for wealthy clients. In addition, the firm has a real estate office in each location and is thus able to offer a complete property dish.The value of properties handled by the rea l estate offices is typically $5m $20m. Bellingham is interested not only in extending its operations internationally but particularly in the possibility of diversifying into the real estate business. Whilst well aware of the existence of a number of competitors, the directors feel that there is a ready market in the US for their established name in terms of design flair, service and products. After discussions with the directors of American Creations, Bill Moneypenny has produced the following forecast.Under average economic growth conditions, the American Creations operating forecasts (in $*1000) for the next five years are ground on the following Incomefrom Sales $7500 in 2013, rising by 12% per annum for the foreseeable future. from real estate sales commissions $2850 in 2013 increasing by 15% per annum for the foreseeable future. Manufacturing variable costs Labour $1250 in 2013, expected to increasing by 8% per annum. Materials $3800 in 2013, expected to increasing by 5% per annum. Fixed costs excluding depreciationManufacturing O/H $2065 in 2013, increasing by 5% per annum. General O/H $1850 in 2013, increasing by 2% per annum. DepreciationFactory, machinery & vehicles $500 per year. Office/Design Studio fixtures $200 per year. The beta of Bellingham plc is believed to be 1. 65 , the risk-free rate of return is 5. 5% and the return for the last year on the FT All-share index is 2%. UK corporation measure is currently 32% due 9 months after the end of the accounting year in motility (you may assume for the purpose of this case that accounting profit and ratable profit are identical. )Bellinghams directors estimate that the after-tax profits of American Creations could be allocated as follows 70% as retained earnings and 30% as dividends. This has been the formula under the under the present ownership. There would be no barricade on the transfer of the clutch share of these dividends to the UK. The US corporation tax rate applicable is 20% payabl e in the year in which the profit arises. There is no double taxation of profits of US origin in the UK. (For the purpose of this case, ignore the possibility of any withholding tax taxes and the effects of foreign exchange risk. It is considered possible that, as the US frugality develops further, even higher wages than those forecast may be demanded by the workforce. Required Evaluate the American Creations proposal on behalf of Bellingham plc, supporting your arguments with germane(predicate) theory and calculations and indicating any non-financial matters you feel should be taken into consideration. Your report should consider the following areas 1. An analysis of Bellinghams current position utilise relevant financial ratios. You should show the calculation of the ratios and provide interpretation of the results. . enumeration of Bellinghams cost of capital, using alternative methods and arriving at the most appropriate figure. 3. An investment appraisal of the American Cre ations proposal assuming the valuation suggested in the case, using a build of methods and evaluation of the results. 4. A sensitivity analysis of the proposal and interpretation of the results. 5. Calculation and discussion of alternative valuations for acquiring the share in American Creations and how these would jar on the investment appraisal. 6.A discussion of the various available methods of financing the acquisition and consideration of which is the most appropriate. Your calculations and arguments should be supported by relevant theory, with read of wide reading around the subject. You should provide a complete bibliography with appropriate referencing in your report. Submission requirements Your answer should take the form of a write report of approximately 2500 words excluding appendices and the reference list. Deviations from the word count surpass plus or minus 10% will attract a penalisation of 5%. The hand-in deadline for submission is 23. 0 on 25th November 2012 . Submissions up to 24 hours late will attract a 10% penalty whilst those beyond 24 hours but less than 1 week late will be capped at 40%. Reports submitted more than one week late will attract a mark of zero. make up one electronic copy via Studynet. This is an individual assignment and the report submitted should be entirely your own work. Appendix 1Bellingham plc Abridged Trading, Profit & departure Account for the year ended 30th June 2012 All amounts are in thousands of pounds sterling 2012 2011 2010 Sales 9606 7564 6100 Production Cost 4034 3101 2240 Gross Profit 5572 4463 3860 marketing Expenses 1467 1250 1080 Installation Expenses 1689 1300 980 Administration Expenses 960 630 597 Operating Profit 1456 1283 1203 Debenture Interest 53 53 53 Profit Before taxation one hundred forty3 1230 1150 Corporation Tax 449 394 368 Profit After Tax 954 836 782 Dividends 341 280 220 Retained earnings 613 556 562 Bal ance cerement at 30th June 2012 Fixed Assets (net) Land & Buildings 2300 2400 2500 Plant & Machinery 1700 1186 552 Fixtures & Fittings 700 600 402 Motor Vehicles 185 one hundred forty 105 Office equiptment 250 185 100 5135 4511 3659 Current Assets Stocks Raw Materials 216 208 182 Work in Progress 200 205 190 Finished Goods 150 128 97 Debtors 1775 950 595 pious platitude/Cash 230 136 104 2571 1627 1168 Current Liabilities Trade Creditors 1190 788 270 Corporation Tax 449 394 368 Final Dividend 171 140 110 1810 1322 748 Net Current Assets 761 305 420 Net Assets 5896 4816 4079 Long-term Liabilities 9% Debentures 2016 750 750 750 5146 4066 3329 Shares & reserves ?1 ordinary shares 1000 1000 1000 6% option shares of 50p ea, 500 500 500 Retained pr for yr 613 556 562 Profit & loss 3033 2010 1267 Shareholders funds 5146 4066 3329