Risk management Research Paper Example | Topics and Well Written Essays - 3500 words

Hazard the executives - Research Paper Example nstance are occasions that make expected dangers and vulnerability to a hierarchical need, while simultaneously spoiling the general notoriety, picture and character of that association. Correspondence emergencies, then again include the visual, composed, printed or verbal communication that an association has with the intended interest group plausible after the event of an emergency. Emergency the board, thusly, is a procedure that includes an organization managing certain basic occasions and vulnerabilities that take steps to hurt or disturb the hierarchical working course, the general population and the company’s partners. Emergency the executives is a training that started in mid 1980s after a few global organizations experienced vital crossroads that prompted a few business terminations around the world. In advertising, emergency the executives assumes a major job. By and by, it is critical to comprehend the administration of emergency by recognizing the various kinds of emergencies that may occur for an organization. Emergencies are debacles that describe the genuine reason for operational trouble in an association. Various kinds of debacles or emergencies are conceivable in a few ventures (Ushanov, 2010). Cataclysmic events are brought about by extraordinary common conditions like floods, waves, typhoons, seismic tremors, tornadoes, dry seasons, neediness, and tempests. Mechanical emergency emerge from human exercises concerning logical application s that might be broken. Not at all like in the catastrophic events, it is conceivable to consider people responsible for innovative disasters. Authoritative emergency are those that include confusion in the hierarchical working environment, regularly emerging from misdirection, unfortunate behavior and wrong administrative aptitudes. Different sorts of emergency incorporate the bits of gossip, angry emergency, fear based oppressor assaults and savagery in the working environment. It is very perilous for organizations to ignore the potential outcomes of emergency coming to pass for their association. The vulnerabilities and dangers that

Capital Accumulation for Beautiful You Ltd Essay

Capital Accumulation for Beautiful You Ltd - Essay Example This report will call attention to the archives should be readied and the different required methods Alethra Brotherton and her accomplice and Beautiful You Ltd. need to complyâ with, so as to give the offers to Expansion Capital plc or, alternatively,â borrow the cash from the bank and make the security required.â I. Lawful Procedures and Documentation Required According to Bos (1969), each business exchange is a legitimate action as every business concern is a different lawful substance. In the given case, there are two choices accessible for the Beautiful You Ltd to fund its arranged development. One is to obtain ?150,000 from Expansion Capital plc consequently of 33% of the portions of the organization. The subsequent choice permits the organization to get ?100,000 from the company’s bank on the quality of a fixed charge over the new shop premises. So as to continue with both these alternatives, the Beautiful You Ltd needs to set up specific documentations and conform to other lawful methods. On the off chance that the organization chooses to back its proposed business development plan by getting assets from Expansion Capital plc, it needs to give 33% of its offers to Expansion Capital plc. Since the Beautiful You Ltd is a privately owned business, it isn't required to express the approved offer capital. In any case, if the Beautiful You Ltd has enrolled before 01.10.2009, it would have an approved offer capital arrangement in its reminder of affiliation in the event that it has not been evacuated. In such a circumstance, the Beautiful You Ltd can give shares just up to its approved capital sum which is expressed under the capital statement of the update of affiliation. On the off chance that the organization has no adequate approved capital accessible, it must revise the articles before the offer issue. A duplicate of the passed goals, a type of G123, and the changed notice must be enrolled at Companies House. Be that as it may, these techniques don't influence the Beautiful You Ltd in the event that it had been framed after 01.10.2009. In spite of the fact that the offer portion involves the executives, the chiefs are exposed to some legal commitments so as to forestall maltreatment of forces. The executives have the power to distribute shares if the organization has just one class of offers; this arrangement is additionally exposed to explicit limitations in the company’s articles (sec550, CA 2006). Conversely, an uncommon goals (sec51, CA 2006) or an arrangement in the company’s articles must approve the chiefs to allocate shares if the organization has more than one class of offers. While taking a choice in regards to share issuance to the Expansion Capital plc, the delightful You Ltd must consider the pre-emptive rights for existing individuals, which have been characterized as legal pre-emptive rights in sec561, CA 2006. In any case, the Beautiful You Ltd can reject these rights by either an arrangement in the company’s articles or by passing an uncommon goals (sec569-sec571). At the point when the Beautiful You Ltd takes such a capital gathering choice, a portion of its current investors may defer their privileges to them. Under such conditions, the organization has the legitimate commitment to offer offers to them. In the wake of guaranteeing that all the above issues has been joined in, the chiefs of the Beautiful You Ltd may take steps to apportion shares by unmistakably expressing number and class of offers, the cost paid, the allottees, regardless of whether for money or different resources. The executives must issue share authentication to the Expansion

How SSRIs Are Used to Treat Social Anxiety Disorder

How SSRIs Are Used to Treat Social Anxiety Disorder Social Anxiety Disorder Treatment and Therapy Print How SSRIs Are Used to Treat Social Anxiety Disorder By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Medically reviewed by Medically reviewed by Daniel B. Block, MD on January 23, 2020 twitter linkedin Daniel B. Block, MD, is an award-winning, board-certified psychiatrist who operates a private practice in Pennsylvania. Learn about our Medical Review Board Daniel B. Block, MD Updated on February 15, 2020 Social Anxiety Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Science Photo Library / Robert Brook / Getty Images Selective serotonin reuptake inhibitors (SSRIs) are usually the first choice of medication for treating social anxiety disorder (SAD). SSRIs affect your brain chemistry by slowing re-absorption of the neurotransmitter serotonin, a chemical that we think helps to regulate mood and anxiety. Types There are several SSRIs that may be recommended in treating SAD including the following. Each medication is listed by the brand name followed by the generic name in parentheses: Celexa (Citalopram)Paxil (Paroxetine)Prozac (Fluoxetine)Lexapro (Escitalopram)Luvox (Fluvoxamine) Zoloft (Sertraline) Three SSRIs, Paxil, Zoloft, and Luvox CR have been approved by the FDA for treating social anxiety disorder. All three medications have been shown in clinical studies to offer improvement of symptoms. Paxil was the first SSRI to receive FDA approval and is still often prescribed. However, the medication that works for one person doesnt always work for another. So, your doctor will work with you to find the right prescription for you. The Best Treatments for Social Anxiety Disorder Usage Your doctor will give you specific instructions on how to take your medication. It is important that you follow these directions. Generally, you will take an SSRI once a day, usually in the morning. Your doctor will usually prescribe a low dose at first, which will be increased gradually. The dose that you require does not necessarily relate to the severity of your symptoms. Sometimes it is simply a reflection of your unique metabolism. It may take several weeks for you to notice an improvement in your symptoms. Side Effects SSRIs are generally the preferred medication for SAD because the side effects tend to be well-tolerated. However, several possible side effects include the following:?? Sleep problems: drowsiness, fatigue or insomniaSexual dysfunction: decreased sex drive, delayed or absent orgasm, erectile dysfunctionPhysical ailments: skin rashes, dry mouth, headaches, nausea, dizzinessAnxiety-like symptoms: irritability, nervousness, shaky hands, sweatingEating problems: weight gain or loss, loss of appetite If you have great difficulty with side effects, your doctor may decide to prescribe a different SSRI. In general, lower initial doses that are gradually increased reduce the chance that you will have bad side effects. Curbing the Side Effects of Antidepressants Advisories/Warnings SSRIs should never be taken at the same time as monoamine oxidase inhibitors (MAOIs). The results of such a combination can be fatal.?? In addition, never start taking one of these medications within weeks of stopping the other. Although rare, it is possible during the initial phase of treatment for symptoms to worsen rather than improve. It is important to monitor symptoms during this time and report any negative changes to your doctor. In 2004, the FDA released an advisory concerning SSRIs and risk of suicidal thoughts and behaviors, particularly in children and adolescents. In addition to the FDA advisory on suicidal thoughts, there has also been an advisory released regarding the use of triptans for migraine headaches in combination with SSRIs.?? In combination, there is a risk of serotonin syndrome, a potentially life-threatening condition. In general, it is important to inform your doctor of all medications, both prescription and nonprescription, that you are already taking. Stopping Treatment SSRIs should always be discontinued under the supervision of a medical professional. Abruptly stopping these medications can result in a relapse of anxiety symptoms and serotonin withdrawal symptoms, including trouble with coordination, tingly sensations, vivid dreams, flu-like symptoms, anxiety, and depressed mood.?? To avoid these serotonin withdrawal symptoms and the possibility of relapse, SSRIs should always be gradually tapered off.

Computers and Technology the Downfall of Civilization

Computers and Technology: The Downfall of Civilization Introduction We are becoming overwhelmingly dependent on computers and technology. Is this dependence on computers and technology a good thing or should we be more suspicious of their benefits? Since their creation, computers and technology have always been about making our lives easier. From the invention of the light bulb to modern day smart phones, they are helpful devices that most everyone, in one way or another use every day. However, since their creation, they have slowly been forcing society to become ever more dependent on their use. As a society, we continue to depend on computers and technology to get through our daily lives, so the question that needs to be asked is, â€Å"Is†¦show more content†¦As the thinking machinery continues to evolve, the strategists will keep asking themselves the same question: Is there still a good reason to trust ourselves or should we defer to a computers calculations (Johnson, 2005)? Medical Research and Record Keeping Cancer, AIDS, general disease research and hospital record keeping all depend on computers and their technology. How can computer scientists help in cancer research? According to David Patterson of the New York Times, â€Å"Computer scientists may have the best skills to fight cancer in the next decade – they should be signing up in droves† (Patterson, 2011). With the ability to store our medical records electronically, there will always be the risk and exposure of some our most personal information to hackers and thieves. There have been numerous reports lately of groups such as â€Å"Anonymous† breaking into the CIA, shutting down the FBI’s websites and even breaking into state databases for profit and gain. Space Exploration Space exploration, missions and the survival of our astronauts, telescopes and satellites all depend on computers and technology. There has always been a computer and its accompanying technology involved when there has been a major breakthrough in science or in any other field, so why would space exploration be any different? Space exploration has had a lot to gain since the invention of computers and their technology. Before computers, when people used to study theShow MoreRelatedA Comparison Of Alien Technology In Alien And Forbidden Planet?1034 Words   |  5 PagesNowadays we have amazing technology, I mean our phones are basically small computers now, but people freak out when their smart phones or laptops mess up and they cannot check social media. Technology has become such a gigantic part of our daily lives now that it is hard for most people to comprehend what life would be like without it or if it failed us like so many people were worried about with the Y2K bug. So, let us take it to a bigger scale like what would happen when you’re exploring an unknownRead More The Pros and Cons of Technology Essay1525 Words   |  7 PagesThe Pros and Cons of Technology As far back as I can remember my family and I have taken advantage of technology. The types of technology have changed over the years, along with our usage and dependence on it. Technology is a fundamental part of our lifestyle, including both work and play. What is interesting is that we also have many friends who use very little technology in their day-to-day living. This drastic difference makes one wonder how necessary the technology really is, and whether orRead Morehow technology has changed985 Words   |  4 Pagesï » ¿Melissa Sandoval English 52 / 6-750pm 2/18/2014 How technology has changed Technology today, has allowed us to connect with people with ease, and has made many tasks so much easier. 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Kaczynski begins to write letters expressing his feelings against technology in the early 70’s which would be his motivation for all the bombings. Kaczynski’s main goal was to wipe out technology or anyone who believed that technology was the way of the future. Kaczynski’s main targets were professors at technological schools or people involved with computers or computer science teachers. Initially, the bombs were of amateur quality and did not cause much harm. The bombsRead MoreStan Vanderbeek: Master of Machine Stan Vanderbeek considered himself to be a â€Å"technological fruit1100 Words   |  5 PagesVanderbeek considered himself to be a â€Å"technological fruit picker† as he worked with various types of media throughout his career. He would pick up new techniques as often as he dropped ones that were no longer beneficial to him and his works. When computers became commercially available in 1955, Vanderbeek’s curiosity piqued at the potential as an art form since he was a â€Å"technically oriented film-artist.† The year 1964 signaled his initial experiments with the new medium and he has since producedRead MoreEssay on Technology in the film Tron2567 Words   |  11 PagesTechnology in the film Tron Introduction The purpose of my project is to discover how technology is represented within the film Tron. To answer this research question, I viewed and analyzed the movie and incorporated information from the text and various websites. While studying this film, I took into consideration factors such as images and language used, how technology is related to society, and what symbols the creator used to convey certain qualities of technology. In this researchRead MoreModern Technology3302 Words   |  14 PagesTechnology is a systematic knowledge and action, usually of industrial processes but applicable to any recurrent activity. Technology is closely related to science and to engineering. Science deals with humans understanding of the real world about them—the inherent properties of space, matter, energy, and their interactions. Engineering is the application of objective knowledge to the creation of plans, designs, and means for achieving desired objectives. Technology deals with the to ols and techniquesRead MoreGun Violence And Social Media1510 Words   |  7 Pagesattention, some for political reasons, some are due to mental instability, but every shooter had an agenda driving their actions. The Fall of Civilization In the early to mid-1990’s, the internet became more accessible to the general public, and extraordinarily more so in the years, and millennium that followed. Today most people walk around with a handheld computer in their pocket which have actually sent the PC industry into a downward trend for the past few years (Bonnington, 2015). We walk, we talkRead MoreReflection About Media Literacy Reflection1416 Words   |  6 Pagesoccasions across the nation by facilitating a screening of the honor winning narrative, Screenagers. The movie tests into the helpless corners of family life, including the executives own, and delineates untidy battles over web-based social networking, computer games, scholastics, and Internet compulsion. Through astonishing bits of knowledge from creators and cerebrum researchers, arrangements rise on how we can start to engage kids about how to best explore and comprehend the inescapable effects of the

The Imperialism Of India By George Marshall - 1739 Words

Kai Middlebrook Mrs.McKnight World Literature: Per. 5 11 October 2015 British Imperialism in India â€Å"After three shots, the elephant still does not die. Orwell fires his two remaining shots into the elephant’s heart. He sends someone to get his small rifle, then pours ‘shot after shot into his heart and down his throat.’ Still, the elephant does not die. Orwell, unable to stand the elephant’s suffering and unable to watch and listen to it, goes away. The elephant, like the Burmese people, has become the unwitting victim of the British imperialist’s need to save face† (Carol) India a country whose population is only surpassed by that of China’s, was colonized in the 1750s by the British who were seeking to further expand their global empire and grow their wealth but cared little if at all for the people s lives that were impacted by their colonization. Peter Marshall a renowned professor, author, and historian wrote an article discussing the colonization of India by Britain which provided information r egarding the East India Company and British expansion in the region. According to Marshall, â€Å"The East India Company was one of the largest and most powerful companies in the world from 1750 to the late 1800s† and then went on to say, â€Å"Its primary function as a company was to serve as a monopoly of all the English trade made in Asia† (Marshall). The Company’s expansion into India allowed for Britain’s government to easily access India’s resources. It also enabled Britain’sShow MoreRelatedImperialism is Almost Never Acceptable1629 Words   |  6 Pagesthrough imperialism or the act of conquering another country, taking over and using that country for support of the mother country for things such as natural resources, cheap labor and economic benefits such as international seaports. 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DATE OF SUBMISSION: 25TH SEPTEMBER, 2012 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY 1 Contents Introduction ................................................................................................................................ 3 Research Methodology .............................................................................................................. 4 Aim .....

Reaching Effects Of The Gulf Oil Spill Environmental Sciences Essay Free Essays

string(45) " the Macondo Well endanger the aquatic life\." On April 20, 2010 an detonation occurred at the British Petroleum drill rig located in the Gulf of Mexico. The detonation at the drill rig Deepwater Horizon led to the Macondo good to leak out oil. This was to go the 2nd most detrimental environmental catastrophe in the universe and the worst environmental calamity in U. We will write a custom essay sample on Reaching Effects Of The Gulf Oil Spill Environmental Sciences Essay or any similar topic only for you Order Now S. history. The United States Minerals Management Service ( USMMS ) recorded that eighteen out of 39 runawaies in the Gulf of Mexico are caused by cement jobs ( Kerr et al. , 674 ) . The destructive oil spill was either created by improper support with cement or a malfunction in the runaway preventer used to supervise the oil Wellss. Before the boring started, British Petroleum ( BP ) predicted that if the undertaking were to travel incorrect it would let go of about 162,000 barrels per twenty-four hours. When the undertaking did neglect the oil started to flux out at about 1,000 barrels per twenty-four hours so farther rose to 5,000 barrels per twenty-four hours ( Kerr et al. , 674 ) . To halt the flow of the oil from the Macondo Well, Deepwater Horizon would hold to bore back into the sea floor to do a new hole and so make full the hole with clay to kill the flow of the oil. The procedure took about three months to decide and in this clip the undermentioned shorelines were affected : Texas, Louisiana, Mississippi, Alabama and Florida. The spill has affected biomes, ecosystems, nutrient ironss and carnal populations in all of these countries. A biome is a biotic factor characterized by clime and geographically belongings and the black spill hideously affected the marine biome, which intern annihilated two ecosystems: the coastal and Marine ecosystems. This death leads to the arrested development of effectivity of all nutrient ironss. Several anticipations can be made on how the environmental catastrophe will be affected from, five, 10 or twenty old ages from now. Many resources and environmental programs by the authorities and charity organisation are in consequence to assist with control and to assist salvage the environmental by: acquiring rid of the oil spill, salvaging the animate beings and reconstructing their ecosystems in the different biomes. The Gulf of Mexico spill perilously affected the marine biome. As the oil start to lift and dispersants are added to the oil, they start to do the close shore soft deposits and the deep-sea deposits to decease out. Near shore soft deposits are beaches, salt fens, sea grass beds and mangrove swamps. They are extremely productive for ecosystems and consist of plentiful organic affair. The deep-sea deposits are boggy, flaxen countries chiefly located on the Continental inclines, Continental rises and abyssal fields ( Textbook ) . Estuaries and coral reefs are perceptive countries if impacted by oil rosin. They provide protection, eating, and populating for a many beings. About â€Å" 90 per centum of marine species in the gulf depend on coastal estuaries † largely located in Louisiana ( Crowley, 2010 ) . Louisiana was hit hard by the oil spill greatly impacting salt fens and barrier islands. The dispersants added to the oil causes it turn to tar balls which possible starts to loo k on beaches and stick to the workss. The big sums of oil on the coastal deposit will do the salt fen grasses and animate beings to decease out ( Kerr et al. , 962 ) . The oil sedimentations can harm the workss and causes the deposit to gnaw. If the deposit starts gnawing the workss will non travel through photosynthesis or gas exchange ( Kerr et al. , 675 ) . This may do the whole ecosystem to fall apart, because many beings may go unable to acquire nutrient and alimentary supply from the contaminated surrounding environment ( How Does the BP Oil Spill, 2010 ) . Harmonizing to the National Oceanic and Atmospheric Administration, research workers say that â€Å" direct contact with an oil spill may take to coral decease, but depending on coral species, growing signifier, life phase, and continuance of oil exposure ( How does an Oil Spill Affect Coral Reefs, 2010 ) . † Scientists say corals that are exposed at different concentration degrees of oil may kill coral but may non be instant. It would instead be a long-run consequence after the exposure has ended. Scientists are stating, the deep-sea corals are non affected by the oil spill and hardly touched by it ( How does an Oil Spill Affect Coral Reefs, 2010 ) . Steve Ross, a research worker from the Center for Marine Science at the University of North Carolina at Wilmington, says, â€Å" Originally, when we saw the flight for the oil spill and where it was traveling, we were really concerned that these home grounds would be impacted ( Skoloff, 2010 ) . † Ross and other research w orkers from his squad are carry oning a research to see if the corals have been damaged or will it be a long-run impact based on the reproduction rates. Ross said â€Å" We thought surely that†¦ we would see marks of harm and we ‘re really pleased to state so far, in these locations, we have n’t seen a big graduated table harm to the coral home grounds. We ‘re still looking, but so far, it ‘s good ( Skoloff, 2010 ) . † As the marine biome are affected by the oil spill, this to boot affects two types of ecosystems in the country. The two ecosystems, marine ecosystem and coastal ecosystem, are extremely disrupted by the oil spill doing nutrient ironss to be non as efficient. The impact of the environment by dispersants of oil is greatly effectual, and the scientists are worried the harm would jeopardize the nutrient web ( Layers of Life, 2010 ) . In the Marine ecosystem, the oil started to flux out of the Macondo Well each twenty-four hours, it started to impact different Marine beds. The marine biome consists of four Marine zones, but merely three zones were affected by the oil spill: the epipelagic zone, mesopelagic zone, and bathypelagic zone ( Textbook ) . Microscopic droplets from the Macondo Well endanger the aquatic life. You read "Reaching Effects Of The Gulf Oil Spill Environmental Sciences Essay" in category "Essay examples" The heavier oil compounds would either absorb to the deposit or turn into pitch balls and rinse up to the shore or autumn to the seafloor. When dispersants are added to the oil, it breaks down the oil and forestalling it to come on land. The sunshine can assist extinguish the volatile oil compounds. As the huge figure of phytoplankton, fish eggs, and larvae are affected, they are an indispensable to giants, fish, and other beings. They are the bases of the nutrient concatenation life at the epipelagic zone. The microscopic oil and methane gas from the spill do the plankton to go hypoxic-depleted of O ( Bourne Jr. , 51 ) . As the phytoplankton is the bases for the marine ecosystem nutrient web, by being effected by the oil spill, the nutrient web would non be every bit efficient as it would be because other animate beings and beings are dependent on them. Marine scientist, Rob Condon, says, â€Å" You change the base of the nutrient web, it ‘s traveling to ruffle through the full nutrient web and finally it ‘s traveling to impact fishing and present a batch of contaminations into the nutrient web ( Brown and Masti, 2010 ) . † Like runt, pe diculosis pubis, tuna, or ruddy snapper provender on phytoplankton, these animate beings would decease out because the deficiency of foods in the system doing other animate beings to endure which will interrupt down the nutrient web. Pyrosomes are another indispensable base of foods for animate beings. If they are effected it would do a rippling in the nutrient web which would consequence on polo-necks and larger fishes ( Brown and Masti, 2010 ) . The ecosystem would get down to deteriorate because of the deficiency of foods and addendum eating for beings. Correspondingly the oil injuries sea birds, which the H2O soaks through their plumes, doing them cold, taking to hyperthermia, and harder to derive nutrient. The mahimahis are to endure from organ harm from take a breathing the toxic bluess or consuming the oil. As for the sea turtles they are at high hazard because they feed at the oil surface. The applied scientists try to utilize dispersants by the well so the sea birds and mammals are protected from the oil but on the other manus it can impact a Bluefin tuna or other fishes from the toxic consequence ( Kerr et al. , 675 ) . The counter current gas exchange would impact the fish because of less O in the H2O doing the blood to have O, which leads to the decease of fishes ( Textbook ) . Scientists from National Institute for Undersea Science and Technology ( NIUST ) with several other establishments will follow oil over the following couple months as it moves through the nutrient concatenation from individual celled algae to tuna fi sh ( Kerr et al. , 963 ) . As the concentration of the methane gas additions, there is a fright that there will be oxygen depletion making â€Å" dead zones † in the ecosystem where no marine life to can remain. The cause of dead zones is by algae start to organize where they feed on the foods of methane on high concentration. Bacteria so eat the algae, which causes the depletion in O. Marine life, such as fish, is non able to last in this environment which scientists called it â€Å" dead zones † ( McNulty, 2010 ) . The marine ecosystem is extremely at hazard due to the oil, gas or dispersants. With all the effects on the system it affects the nutrient concatenation and how the marine life is seeking to last utilizing other resources or migrating out of the oil spill environment. This affects how they would accommodate to new countries in the ocean. The Rhizophora mangle wood, fresh H2O, salt H2O environment to the coral reefs make a nourishment country and supply a home ground for wildlife and protection from the pollution. The coastal ecosystem is affected as the oil moves in closer to the shore. The animate beings such as birds, boodles, oysters and corals are extremely at hazard because of the toxic consequence in their system. As boodles and oysters can be a beginning of nutrient to other beings, like otters or worlds, which live around the coastal country will impact the nutrient concatenation. Similarly, animate beings that unrecorded by seawater fens, coastal prairies, mangrove forest and hayfields and are dependent on workss as a primary beginning of foods will be affected due to the deficiency of gas exchange and photosynthesis of the workss because of the oil toxic degrees in the workss. The coastal grass fens created for coastal Marine and mammals for life. The oil amendss water bird, polo-necks and marine mammals an d perchance embryos and larvae of invertebrates and fish ( Weise and Rice, 2010 ) . Additionally, the emmets, crickets, and spiders are of import factors of the coastal nutrient web. They aid in dirt irrigation, seed dispersion, pollenation and nutrient beginning. If the insect population survives so fish and birds will last. If the fish and birds survive the community will last besides, but if insects do non last the system will fall apart ( Bui, 2010 ) . Felicia Coleman, from Florida State University Coastal and Marine Laboratory in St. Teresa, says, â€Å" Panama City, Florida to Tampa, Florida is one of the largest bases of sea grass in the U.S. Those grasses contain likely the largest hatcheries and baby’s room land for piscaries in the Gulf of Mexico ( Weise and Rice, 2010 ) . † This cause would impact the growing of new species of fishes and impact the nutrient web for consumers. There populating would be destroyed and would be difficult to accommodate to new co untries due to the predation and environment. She besides says, â€Å" One of the last pristine, most biologically diverse coastal home grounds in the state is about to acquire wiped out. And there ‘s non much we can make about it ( Weise and Rice, 2010 ) . † There are legion beings that are affected by the spill. One animate being that is extremely diminishing in size of population are the pelicans, chiefly the brown pelicans. As of mid-July 2010, the U.S. Fish and Wildlife Service ( FWS ) , the brown pelican was hit the hardest by the oil spill about 50 eight per centum of the pelicans that were either dead or injured ( Tangley, 2010 ) . The effects of oil on the brown pelicans are really detrimental to the organic structure. As the oil sticks to the plumes, it starts to lose the sealing oils that maintain them from acquiring cold. As the oil start to rub off and deteriorate, the brown pelicans could decease from hypothermia. If a thick coat of oil sticks to the organic structure, the bird will non be able fly either doing it to rinse up shore and dice. When the brown pelican provenders on marine life in the sea, such as fish, it can consume little sums of oil if the fish is contaminated. If everything in ecosystem is contaminated with, the birds will non able to feed and feed at that place immature and do low reproduction rates because they would decease ( Rosenberg, 2010 ) . If the tendency continues, the whole population of brown pelicans would decease out and would be considered as being on the endangered list once more as they have 50 old ages ago due to DDT pesticides in the late fiftiess. The DDT pesticide resided in contaminated fishes, this causes the reproduction of eggshells. The eggshells are thinned and during incubation the eggs would accidently check by the parents, doing them low reproduction in the country ( Tangley, 2010 ) . Surveies say, when affected by oil, they have a low to good endurance rates depending on the country they live in ( Rosenberg, 2010 ) . Cleaning the environment of the ecosystem and the brown pelicans would increase the survival rate. The authorities and community have been addressed to the environmental crisis. The authorities should be involved in the oil catastrophe. The Environmental Defense Fund ( EDF ) has provided offer to the Obama disposal and Congress to retrieve the harm environment. Five stairss need to be taken: 1 ) to halt the flow of the oil and prevent making the shore, 2 ) design a long term clean up plan, 3 ) supply economic aid the fishermen, 4 ) proctor the short term effects of the spill by scientific research, and 5 ) supply a $ 4 billion budget to reconstruct the hundred square stat mis ecosystems. Obama has taken in consideration to go through a $ 4 billion exigency measure ( Crowley, 2010 ) . I truly suggest that the authorities should take this into consideration because it includes all parts of how the budget money would assist reconstruct the environment back to normal. Numerous AIDSs and financess were proposed authorities ; they should take a expression at the proposition and make the ir ain measure to assist with the oil spill calamity. I contemplate the British Petroleum should assist with the bulk of the financess of scientific research and assistance in Restoration of the environment. This would assist derive their regard back but plus assist the community and nature. The community should take in deliberation to be voluntaries and subscribe up with organisation to assist with attempts of the oil spill. They would assist clean animate beings, like birds, and the dust on the coastal shores, which will assist in the short-run effects of the ecosystem. The major organisations, such as: National Wildlife Federation, NOAA, Global Green and other organisations have been taken to consequence and assisting the damaged ecosystem. The community and organisations should work together to reconstruct the biome with the assistance of persons as voluntaries and the financess provided. Many scientists and research workers are assisting with the service of reconstructing of th e biome. They are carry oning research and experiments and how they can supply aid to repair the jobs. Expression at the long-run impact of the spill from five, 10, or twenty old ages from now will alter how the biome is working. Five old ages from now, the Restoration of the coastal land of workss and some animate beings will be conveying back the home ground to normal due to the fact the sunshine, H2O and heat will assist interrupt down some factors of the oil in the deposits, to boot aid of oil eating bacteriums ( Barcott, 71 ) . The marine ecosystem will still be damaged because of the monolithic sums of oil in the ocean, in different Marine zones. In ten old ages, some of the marine ecosystem, the epipelagic zone, will get down to better back to its normal map such as corals and animate beings reside in those parts of the system, because corals have a short-run consequence of the oil. As the twelvemonth ‘s advancement, in twenty old ages, half of the marine biome, the mesopelagic zone and some of bathypelagic zone, will be start map usually and the nutrient web will be effi cient, making an betterment of reproduction and survival rate of animate beings and beings. How to cite Reaching Effects Of The Gulf Oil Spill Environmental Sciences Essay, Essay examples

Nature of Financial Management free essay sample

In the earlier years, it was treated synonymously with the raising of funds. In the later years, its broader scope, included in addition to procurement of funds, efficient use of resources. Scope of Financial Management Financial is broadly concerned with the acquisition and use of funds by a business firm. The important tasks of financial management, as related to the above, may be categorized as follows: A. Financial Analysis, Planning and Control †¢ Analysis of financial condition and preference †¢ Profit Planning †¢ Financial forecasting †¢ Financial Control B. Investing †¢ Management of current assets (cash, marketable securities, receivables and inventories) †¢ Capital Budgeting (identification, selection and implementation of capital projects) †¢ Managing of mergers, reorganizations and divestments C. Financing †¢ Identification of sources of finance and determination of financing mix †¢ Cultivating sources of funds and raising funds †¢ Allocation of profits between dividends and retained earnings Important Topics in Financial Management Table 1. 1 Balance Sheet and Topics in Financial Management Share Capital EquityCapital Structure and Cost of Capital Preference Reserves and Surplus Debentures Unsecured Loan Current Liabilities ProvisionsWorking Capital Trade CreditorsFinancing Policy Provisions Fixed Assets (Net)Capital Budgeting Gross Block Less Depreciation InvestmentSecurity Analysis Current Assets, Loans and Advances Cash and bank balancesCash Management ReceivablesReceivables Management InventoriesInventory Policy Loans and Advances Miscellaneous Expenditure and Losses Table 1. We will write a custom essay sample on Nature of Financial Management or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 2 Income statement and Topics in Financial Management Net SalesRevenue risk Cost of goods Sold Materials and stocks Wages and Salaries Other Manufacturing Expenses Gross ProfitGross profit margin Operating Expenses Selling and Administration Expenses DepreciationDepreciation Policy Operating Profit Non operating surplus / deficit Earnings before interest and taxBusiness risk InterestFinancial risk Profit before tax TaxTax planning Profit after taxReturn on equity DividendsDividend policy Retained Earnings Goals / Objectives of Financial Management- Traditional Approach – It has been traditionally been argued that the objective of a company is to earn profit. This means that the finance manager has to make decision in a manner that the profit is maximised. Each alternative, therefore, is to be seen as to whether or not it gives maximum profit. Profit maximization objective gives rise to a number of problems as below: i) Profit maximization concept should be considered in relation to risks involved. There is a direct relationship between risk and profit. Many risky propositions yield high profit. Higher the risk, higher is the possibility of profits. If profit maximization is the only goal, then risk factor is altogether ignored. i) Profit maximization, as an objective does not take into account time pattern of return. Proposal A may give a higher amount of profits compared to proposal B, yet if the returns begin to flow say 10 years later, proposal B may be preferred which may have lower overall profits but the returns flow is more early and quick. iii) Profit maximization, as an objective is too narrow. It fails to take into account the social considerations as also the obligations to various interests of workers, consumers, society as well as ethical trade practices. Further, most business leaders believe that adoption of ethical standards strengthen their competitive positions. iv) Profits do not necessarily result in cash flows available to the stockholder. Owners receive cash flow in the form of either cash dividends paid to them or proceeds from selling their shares for a higher price than paid initially. Modern Approach The alternative to profit maximization is wealth maximization. This is also known as Value maximization or Net Present Worth maximization. Value is represented by the market price of the company’s equity shares. Prices in the share market at a given point of time, are the result of many factors like general economic outlook, particular outlook if the companies under consideration, technical factors and even mass psychology. However taken on a long-term basis, the share market prices of a company’s shares do reflect the value, which the various parties put on a company. Normally, the value is a function of two factors (i) The likely rate of earnings per share of a company (EPS) and (ii) The capitalization rate EPS are calculated by dividing the periods total earnings available for the firm’s common shares by the number of shares of common shares outstanding. The likely rate of earnings per share (EPS) depends on the assessment as to how profitably a company is going to operate in the future. The capitalisation rate reflects the liking of the investors for a company. If the company earns a higher rate of earning per share through risky operations or risky financing pattern, the investors will not look upon its shares with favour. To that extent, the market value of the shares of such a company will be low. If a company invests its fund in risky ventures, the investors will put in their money if they get higher return as compared to that from a low risk share. The market value of a firm is a function of the earning per share and the capitalisation rate. Suppose the Earning per share are expected to be Rs. 7 for a share, and the capitalisation rate expected by the shareholder is 20 per cent, the market value of the share is likely to be 7 7 x 100 = - = Rs. 5 20% 20 This is so because at this price, the investors have an earning of 20%, something they expect from a company with this degree of risk. The important issues relating to maximizing share prices are Economic Value Added (EVA) and the focus on stakeholders. Economic Value Added (EVA) is a popular measure used by many firms to determine whether an investment – proposed or existing – contribute positively to the owner’s wealth. EVA is calculated by subtracting, the cost of funds used to finance or investment fr om its after-tax-operations profits. Investments with positive EVA increase shareholder value as those with negative EVA reduce shareholders value. For example, the EVA of an investment with after tax operations profits of Rs. 510,000 and associated financing costs of Rs. 475,000 would be Rs. 35,000 (i. e. Rs. 410,000 – 375,000) Because this EVA is positive, the investment is expected to increase owner wealth and is therefore acceptable. What about Stakeholders? Stakeholders are group such as employees, customers, suppliers, creditors, owners and others who have a direct economic link to the firm. A firm with a stakeholder focus consciously avoids actions that would prove detrimental to stakeholders. The goal is not to maximize stakeholder well being but to preserve it. It is expected to provide long run benefit to shareholders by maintaining positive stakeholder relationships. Such relationship should minimize stakeholder turnover, conflicts and litigation. Clearly, the firm can better achieve its goal of shareholder wealth maximization by maintaining cooperation with other stakeholders rather than having conflict with them. The Role of ethics Ethics is standards of conduct or moral judgment. Today the business community in general and the financial community in particular are developing and enforcing ethical standards, purpose being to motivate business and market participants to adhere to both the letter and the spirit of laws and regulations concerned with business and professional practice. An effective ethics program is believed to enhance corporate value. An ethics program can reduce potential litigation and judgment costs, maintain a positive corporate image, and build shareholders confidence, and gain the loyalty, commitment and respect of the firms stakeholders. Such actions, by maintaining and enhancing cash flow and reducing perceived risk, can positively affect the firm’s share prices. Ethical behaviour is therefore viewed as necessary for achieving the firm’s goal of owner wealth maximization. Place of Finance function in the organization structure: The finance function is almost the same in most enterprises. The details may differ but the important features are universal in nature. The finance function occupies such a major place that it cannot be the sole responsibility of the executive. The important aspects of the finance function have to be carried on by the top management i. e. the Managing Director and the Board of Directors. It is the Board of Directors, which makes all the material final decisions involving finance. Financial management in many ways is an integral part of the jobs of managers who are involved in planning, allocation of resources and control. The responsibilities for financial management are disposed throughout the organization. For example: †¢ The engineer, who proposes a new plant, shapes the investment policy of the firm. The marketing analyst provides inputs in the process of forecasting and planning. †¢ The purchase manager influences the level of investment in inventories. †¢ The sales manager has a say in the determination of receivable policy. †¢ Departmental managers, in general, are important links in the financial control system of the firm. The chief financial officer (CFO) is basically to assist the top manageme nt. He has an important role to contribute to good decision making on issues, which involve all the functional areas of the business. He must clearly bring out financial implications of all decisions and make them understood. CFO (his designation vary from company to company) works directly under the President or the Managing Director of the company. Besides routine work he keeps the Board of Directors informed about all the phases of business activity, including economic, social and political developments affecting the business behaviour. He also furnishes information about the financial status of the company by reviewing from time to time. The CFO may have different officers under him to carry out his functions. Broadly, the functions are divided into two parts. (i) Treasury function (ii) Control function Treasury function (headed by financial manager) is commonly responsible for handling financial activities, such as financial planning and fund raising, making capital expenditures decisions, managing cash, managing credit activities, managing the pension fund and managing foreign exchange. The control function (headed by Chief Accountant / Financial Controller) typically handles the accounting activities such as corporate accounting, tax management, financial accounting and cost accounting. The treasurer’s focus tends to be more external, the controllers focus more internal: BOARD OF DIRECTORS Managing Director/President V. P ProductionV. P FinanceV. P Sales Treasurer Controller Credit Cash Banking PortfolioCorporate Taxes Internal Budgeting Management Management Relation ManagementGeneral Audit Accounting Cost Accounting Fig 1. 1 Organization chart of finance function Relationship of field of finance with economics – The field of finance is closely related to economics. Financial managers must understand the economic framework and be alert to the consequences of varying levels of economic activity and changes in economic policy. They must be able to use economic theories as guidance for efficient business operation. Examples include supply-demand analysis, profit-maximizing strategies, and price theory. The primary economic principle used in managerial function is marginal analysis, the principle that financial decisions should be made and actions taken only when the added benefits exceed the added costs. Nearly all-financial decisions ultimately come down to an assessment of their marginal benefits and marginal costs. Relationship to Accounting – The firm’s finance (treasurer) and accounting (controller) activities are closely related and generally overlap. Normally managerial finance and accounting are not often easily distinguishable. In small firms the Controller often carries out the finance function and in large firms many accountants are also involved in various finance activities. There are two basic differences between finance and accounting: i) Emphasis on cash flows: The accountant’s primary function is to develop and report data for measuring the performance of the firm, assuming its financial position and paying taxes using certain standardized and generally accepted principles. The accountant prepares financial statements based on accrual basis. The financial manager places primary emphasis on cash flows, the inflow and outflow of cash. ii) Relating to decision-making: Accountants devote most of their operation to the collection and presentation of financial data. The primary activities of the financial manager in addition to ongoing involvement in financial analysis and planning are making investment decisions and making financing decisions. Investment decisions determine both the mix and the type of assets held by the firm. Financing decisions determine both the mix and the type of financing used by the firm. However the decisions are actually made on the basis of cash flow effects on the overall value of the firm. Interface with other Functions Finance is defined as the lifeblood of an organization. It is a common thread, which binds all the organizational functions as each function when carried out creates financial implications. The interface between finance and other functions can be described as follows: Manufacturing Finance i) Manufacturing function necessitates a large investment. Productive use of resources ensures a cost advantage for the firm. i) Optimum investment in inventories improves profit margin. iii) Many parameters of the production cost having effect on production cost are possible to control through internal management thus improving profits. iv) Important production decisions like make or buy can be taken only after financial implications have been considered. Marketing Finance – i) Many aspects of marketing management have financial implications e. g. hol d inventories to provide off the shelf service to customers and thus increase sales; extension of credit facility to customers to increase sales. i) Marketing strategies to increase sales have additional cost impact, which needs to be weighed carefully against incremental revenue. Personnel Finance – In the global competitive scenario business firms are moving to leaner and flat organizations. Investments in Human Resource Development are also bound to increase. Restructuring of remuneration structure, voluntary retirement schemes, sweat equity etc. have become major financial decisions in the area of human resource management. Strategic Planning – Finance – Finance function is an important tool in the hands of management for strategic planning and control on two counts – i) The decision variables when converted into monetary terms are easier to grasp. ii) Finance function has strong inter-linkages with other functions. Controlling other functions through finance route is possible. Methods and Tools of Financial Management – i) In the area of Financing – Funds are procured from long-term sources as well as short-term sources. Long-term funds may be made available by owners, i. e. hareholders, lenders through issue of debentures / bonds, from financial institutions, banks and public at large. Short-term funds may be procured from commercial banks, suppliers of goods, public deposits etc. The finance manager has to decide on optimum capital structure with a view to maximize shareholder’s wealth. Financial leverage or trading on equity is an important method by which return to shareholders can be increased. ii) F or evaluating capital expenditure (investment) decisions, a finance manager uses various methods such as average rate of return, payback, internal rate of return, net present value and profitability index. ii) In the area of working capital management there are various methods for efficient utilization of current resources at the disposal of the firm, thus increasing profitability. The centralized method of cash management is considered a better method of managing liquid resources of the firm. iv) In the area of dividend decision, a firm is faced with the problem of declaring dividend or postponing dividend declaration, a problem of internal financing. There are tools to tackle such situation. v) For the evaluation of a firm’s performance there are different methods. For example, ratio analysis is a popular technique to evaluate different aspects of a firm. vi) The main concern of the finance manager is to provide adequate funds from the best possible source, at the right time and the minimum cost and to ensure that the funds so acquired are put to best possible use through various methods / techniques are used to determine that funds have been procured from the best possible available services and the funds have been used in the best possible way: Funds flow and cash flow statements and projected financial statements help a lot in this regard. The changing role of Financial Management in India – Modern Financial Management has come a long way from the traditional corporate finance. The finance Manager is working in a challenging environment, which changes continuously. As the economy is opening up and global resources are being tapped, the opportunities available to finance manager have no limits. At the same time one must understand the risk in the decisions. Financial management is passing through an area of experimentation and excitement, as a large part of the finance activities carried out today were not heard a few years ago. A few instances are enumerated below: i) Interest rates have been deregulated, further interest rates are fluctuating, and minimum cost of capital necessitates anticipating interest rate movements. ii) Rupee has become freely convertible in current account. iii) Optimum debt equity mix is possible. The firms have to take advantage of the financial leverage to increase the shareholders wealth. However financial leverage entails financial risk. Hence a correct trade off between risk and improved rate of return to shareholders is a challenging task. v) With free pricing of issues, the optimum price of new issue is a challenging task, as overpricing results in under subscription and loss of investor confidence whereas under pricing leads to unwarranted increase in number of shares and also reduction of earnings per share. v) Maintaining share prices is crucial. In the liberalized scenario the capital markets is the important avenue of funds for business. The dividend and bonus policies framed, has a direct bearing on the share prices. i) Ensuring management control is vital especially in the light of foreign participation in equity (which is backed by huge resources) making the firm an easy takeover target. Existing managements may loose control in the eventuality of being unable to take up the share entitlements. Financial strategies to prevent this are vital to the present management. Forms of Business Organization – The three most common forms of business organization are the sole proprietorship, the partnership and the company. Other specialized forms of business organizations also exist. Sole proprietorship are the most In terms of total receipts and net profits corporate form of business dominate. Sole Proprietorship – A sole proprietorship is a business owned by one person who runs for his own profit. Majority of the business firms are sole proprietorships. The typical sole proprietorship is a small business e. g. bakeshop, personal trainer or plumber. The majority of sole proprietorship is found in the wholesale, retail, service and construction industries. Typically, the proprietor along with few employees runs the business. He raises capital from personal resources or by borrowing and is responsible for all business decisions. The sole proprietor has unlimited liability, towards creditors not restricted to the amount originally invested. The key strengths and weaknesses of sole proprietorship are given in table 1. 3. Partnership – A partnership firm is a business run by two or more persons for profit. Partnership accounts for the next majority of business and they are typically larger than sole proprietorship. Finance, legal and real estate firms often have large number of partners. Most partnerships are established by a written contract known as ‘Deed of Partnership’. In partnership, all partners have unlimited liability for all the debts of the partnership. In India, partnership is governed by the Partnership Act, 1932. Strengths and weaknesses or partnerships are summarized in Table 1. 3. Company Form – A company form of business is a legal entity, separated from the owners, with perpetual succession. Just like an individual, the company can sue and be sued, make and be party to contracts and acquire property in its own name. The company form of organization is the dominant form of business organization in terms of receipts and profits. Although, corporations are involved in all types of business, manufacturing corporation account for the largest portion of corporate business receipts and net profits. The key strengths and weaknesses of corporate form are summarized in Table 1. 3. The owners of the company are its shareholders, whose ownership is evidenced by either common shares or preference shares. Shareholders get a return by receiving dividends i. e. periodic distribution of earnings or gains through increase in share price. Owner’s liability is limited to the amount paid on their shares. Shareholder elects the Board of Directors through vote. The Board of Directors has the ultimate authority in running the organization including making the general policy. The President or Chief Executive Office (CEO) is responsible for managing day to day operations and carrying out the policies established by the Board. The CEO is required to report periodically to the firm’s board of directors. The corporate form of business are subject to strict control by Regulatory Agencies including Companies Ac, 1956, SEBI, etc. Table I Strengths and weaknesses of the common forms of business organizations Sole Proprietorship |Partnership |Company | | | | | |Strengths | | | | | | | |Owners receive all profits and incurs all losses |Can raise more funds than the sole proprietorship |Owners liability is limited to the extent paid on | | |their shares | |Low organizational costs |Borrowing powers enhanced by more owners | | | | |Can achieve large size via sale of shares | | |More available manpower and managerial skill | | |Income is included and taxed on owners personal tax | |Ownership (share) is readily transferable | |return |Income included and mixed on individual partner’s tax | | | |return |Long life of the firm | |Independence | | | | | |Can have professional managers | |Secrecy | | | | | |Has better access to financing | |Ease of dissolution | | | | | |Receives some tax advantage | | | | | | | | | |Weaknesses – |Owners have unlimited liability and may have to cover | | | |debts of other partners |Taxes generally higher, because corporate income is | |Owner has unlimited liability towards debt of the firm| |taxed and dividends paid to owners are also taxed. | |Partnership is dissolved when partner dies |(the latter has been exempted at the hands of the | |Limited fund raising power limits growth | |shareholders in India) | | |Difficult to liquidate or transfer partnership | | |Proprietor must be jack-of-all trades | |More expensive to organize than other forms of | | | |business | |Difficult to give employees long-run career | | | |opportunities | |Subject to greater control by regulating authorities | | | | | |Lacks continuity when proprietor dies or unable to | |Lacks secrecy since the shareholders must receive | |operate | |financial reports at periodic intervals | | | | | Limited Liability Partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partners misconduct or negligence. This is an important difference from that of an unlimited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one general partner with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. In contrast, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as corporate individuals the legal responsibility to manage the corporation in the corporations best interest. An LLP also contains a different level of tax liability from that of a corporation. Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries, the LLP is more suited for businesses where all investors wish to take an active role in management. There is considerable confusion between LLPs as constituted in the U. S. nd that introduced in the UK in 2001 and adopted elsewhere  Ã¢â‚¬â€ see below  Ã¢â‚¬â€ since the UK LLP is, despite the name, specifically legislated as a Corporate bo dy rather than a Partnership. India The Limited Liability Partnership Act 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with effect from 31 March 2009. However, the Act, has been notified with limited sections only. The rules have been notified in the official gazette on April 1, 2009. The first LLP was incorporated in the first week of April 2009. 1. In India, for all purposes of taxation, an LLP is treated like any other partnership firm. 2. be limited to their agreed contribution in the LLP. 3. Further, no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partners wrongful business decisions or misconduct. 4. LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20, LLP Act makes a mandatory statement where one of the partner to the LLP should be an Indian. 5. Provisions have been made for corporate actions like mergers, amalgamations etc. 6. While enabling provisions in respect of winding up and dissolutions of LLPs have been made, detailed provisions in this regard would be provided by way of rules under the Act. 7. The Act also provides for conversion of existing partnership firm, private limited company and unlisted public company into a LLP by registering the same with the Registrar of Companies (ROC) 8. Nothing Contained in the Partnership Act 1932 shall effect an LLP. 9. The Registrar of Companies (Roc) shall register and control LLPs also. 10. The governance of LLPs shall be in electronic mode based on the successful model of the present Ministry of Corporate Affairs Portal. Chapter Assignments – 1. What are the tasks of Financial Management? 2. Discuss the salient features of the traditional approach to Corporation Finance. 3. Discuss the distinctive features of modern approach to Corporation Finance. 4. What is the normative goal of financial management? 5. â€Å"Financial Management is an integral part of the jobs of all managers. Hence it cannot be entrusted to a staff Department†. Discuss. 6. Discuss some of the problems the financial managers in a developing country like India have to grapple with. 7. Draw a typical organization chart highlighting the finance function of a company. 8. Which of the following functions should be the responsibility of a Finance Manager? i) Maintaining the books of account. ii) Negotiating loans with banks iii) Preparation of cost statements iv) Conducting of internal audit v) Analysis of new projects i) Ensuring that enough cash is available at all the branches and factories of the company. vii) Assisting the management in taking a decision regarding the quantum of dividend. viii) Negotiating under-writing agreements in case of new issues ix) Preparing the financi al statements. x) Deciding about change in the policies regarding recruitment. xi) Decision on administrative practices. xii) Change in marketing and advertising techniques routine. 9. Which of the following statements are true? i) It is the job of the finance manager to approve all payments. ii) The finance manager has to keep a proper balance in the procurement and use of funds. iii) Acquisition of fixed assets is of no concern to the finance manager. v) It is always advisable to distribute the total amount of profit as dividend. v) Since it is crucial that all sections of the business have adequate cash, it is a good policy to give each sections of the business double the amount of cash that they normally require so that they can meet even emergencies. vi) Debentures and loans from financial institutions are very important sources of long-term funds. vii) It is better if no credits are given to the customers since this would mean that no amounts are tied up in sundry creditors. v iii) In a period of rising prices, it is better to stock as much as raw material as possible, irrespective of the cost of procuring funds. x) A proper capitalization ensures that there is a balance between long-term funds and short-term funds and also proper ratios are maintained between the various sources of funds. 10. Which of the following statements do you agree? i) Financial management is essential only in private sector enterprise. ii) Only capitalists have to bother about money. The bureaucrat is to administer and not manage funds. iii) The public administrators in our country must be given a basic understanding of essentials of finance. iv) A state owned Transport Company must immediately deposit in the bank all its takings. v) â€Å"Financial Management is counting pennies. We do not believe in such miserly attitude†. vi) â€Å"Finance function is important as any other function in an organization†.