Friday, May 22, 2020
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, Ã¢â¬Å"IsÃ¢â¬ ¦show more contentÃ¢â¬ ¦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, Ã¢â¬Å"Computer scientists may have the best skills to fight cancer in the next decade Ã¢â¬â they should be signing up in drovesÃ¢â¬ (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 Ã¢â¬Å"AnonymousÃ¢â¬ breaking into the CIA, shutting down the FBIÃ¢â¬â¢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 Ã |Ã 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 youÃ¢â¬â¢re exploring an unknownRead More The Pros and Cons of Technology Essay1525 Words Ã |Ã 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 Ã |Ã 4 PagesÃ¯ » ¿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. From desktops to IPhones, the world we live in today allows us to communicate with anybody with wireless access with just a couple clicks of a mouse. As civilization has evolved so has technology, from letters to phone calls to email, basic communication methods have consistently progressed into the complex systemRead MoreThe Impact of Computer Science on Health Care Medicine1283 Words Ã |Ã 6 PagesThe Impact of Computer Science on Health Care amp; Medicine Abstract Computer science can be defined as the systematic study of algorithmic processes, their theory, design, analysis, implementation and application. Its functions in the modern society today expand far beyond the uses one could even begin to imagine. Specifically, there is an increased influence in its practical application in the field of medicine. In recent times, an interdependent relationship between medicineRead More Understanding Crime Essays1576 Words Ã |Ã 7 Pagestake a turn to a darker side. Kaczynski begins to write letters expressing his feelings against technology in the early 70Ã¢â¬â¢s which would be his motivation for all the bombings. KaczynskiÃ¢â¬â¢s main goal was to wipe out technology or anyone who believed that technology was the way of the future. KaczynskiÃ¢â¬â¢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 Ã¢â¬Å"technological fruit1100 Words Ã |Ã 5 PagesVanderbeek considered himself to be a Ã¢â¬Å"technological fruit pickerÃ¢â¬ 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, VanderbeekÃ¢â¬â¢s curiosity piqued at the potential as an art form since he was a Ã¢â¬Å"technically oriented film-artist.Ã¢â¬ The year 1964 signaled his initial experiments with the new medium and he has since producedRead MoreEssay on Technology in the film Tron2567 Words Ã |Ã 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 Ã |Ã 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 themÃ¢â¬âthe 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 Ã |Ã 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-1990Ã¢â¬â¢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 Ã |Ã 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
Thursday, May 7, 2020
Kai Middlebrook Mrs.McKnight World Literature: Per. 5 11 October 2015 British Imperialism in India Ã¢â¬Å"After three shots, the elephant still does not die. Orwell fires his two remaining shots into the elephantÃ¢â¬â¢s heart. He sends someone to get his small rifle, then pours Ã¢â¬Ëshot after shot into his heart and down his throat.Ã¢â¬â¢ Still, the elephant does not die. Orwell, unable to stand the elephantÃ¢â¬â¢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 imperialistÃ¢â¬â¢s need to save faceÃ¢â¬ (Carol) India a country whose population is only surpassed by that of ChinaÃ¢â¬â¢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, Ã¢â¬Å"The East India Company was one of the largest and most powerful companies in the world from 1750 to the late 1800sÃ¢â¬ and then went on to say, Ã¢â¬Å"Its primary function as a company was to serve as a monopoly of all the English trade made in AsiaÃ¢â¬ (Marshall). The CompanyÃ¢â¬â¢s expansion into India allowed for BritainÃ¢â¬â¢s government to easily access IndiaÃ¢â¬â¢s resources. It also enabled BritainÃ¢â¬â¢sShow MoreRelatedImperialism is Almost Never Acceptable1629 Words Ã |Ã 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. Imperialism was the empowerment of another country such as Great Britain over India. Imperialism was a type of social darwinism where the country that i mperialized the most places was to be the strongest, fittest, and most likely to survive. Reasons for imperialism varyRead MorePositive Effects of the British Colonization of India Essay1365 Words Ã |Ã 6 Pagesof India. When the East India Company took control of India in 1612, they began modernizing, westernizing, and industrializing India. This westernization included giving women more rights, an attempt to eliminate the caste system and the loss of many of the more backward Hindu religious beliefs such as the domination of women by men and denying an entire class of people any rights. British occupation also did things long term for India. The modern technology and western customs allowed India toRead MoreConflict of Convictions1695 Words Ã |Ã 7 PagesÃ¢â¬Å"Conflict of ConvictionsÃ¢â¬ E. Marshall October 16, 2012 English Composition 1102 Table of Contents Section 1: Introduction page 3 Section 2: Historical Context page 4 Section 3: Common Theme in other literature page 5 Section 4: Analysis page 7 Section 5: Conclusion page 9 Section 6: Works Cited page page 10 Introduction The literary piece Ã¢â¬Å"Shooting an ElephantÃ¢â¬ by George Orwell, highlights the apprehensions of a colonial officersRead MoreEssay on Overview of British Imperialism2230 Words Ã |Ã 9 PagesOverview of British Imperialism Ã¢â¬Æ' Imperialism is when a world power colonizes a smaller country or kingdom, and then proceeds to exploit the land and resources of the kingdom or country. Through the majority of the 18th century, imperialism was a dominant force on global relations. During the peak of the Age of Imperialism, Queen Victoria and her British empire dominated the world. British Imperialism started in the late 1700Ã¢â¬â¢s because of population growth and the advances in technology industrialismRead More George Orwell Essay2106 Words Ã |Ã 9 PagesGeorge Orwell Eric Arthur Blair was born in 1903 at Motihari in British-occupied India. While growing up, he attended private schools in Sussex, Wellington and Eaton. He worked at the Imperial Indian Police until 1927 when he went to London to study the poverty stricken. He then moved to Paris where he wrote two lost novels. After he moved back to England he wrote Down and Out in Paris and London, Burmese Days, A ClergymanÃ¢â¬â¢s Daughter and Keep the Apidistra Flying. He published all four underRead MoreEmpire Notes3812 Words Ã |Ã 16 PagesNiall Ferguson Introduction * To the British, as to people in the rest of the world, imperialisms golden age is now considered a stain on human history, an era of slavery and racism and the plunder of native lands and peoples. The notion that imperialism is inherently evil, and that no empire can be a good empire, is an axiom in todays geopolitics. * Examines the British Empire from an economic perspective, controversially concluding that the British Empire was, on balance, a good thing *Read MoreEmpire Notes3827 Words Ã |Ã 16 PagesFerguson Introduction * To the British, as to people in the rest of the world, imperialisms golden age is now considered a stain on human history, an era of slavery and racism and the plunder of native lands and peoples. The notion that imperialism is inherently evil, and that no empire can be a good empire, is an axiom in todays geopolitics. * Examines the British Empire from an economic perspective, controversially concluding that the British Empire was, on balance, a good thing Read MoreAmerican Revolution and Study Guide Essay example5377 Words Ã |Ã 22 PagesRoger Williams George Whitefield Lord Baltimore William Bradford John Peter Zenger Virtual representation Walter Raleigh John Winthrop Paxton boys James Oglethorpe Puritans Triangular trade First Continental Congress John Smith Separatists Molasses Act Sugar Act Francis Drake Pilgrims Scots-Irish Quartering Act William Penn Predestination Louis XIV Boston Massacre Henry VIII Salutary neglect George Washington StampRead MoreRegents Exam in U.S. History and Government7115 Words Ã |Ã 29 PagesAmerica is in the correct chronological order? (1) inauguration of George Washington Ã¢â â passage of Stamp Act Ã¢â â Battle of Saratoga Ã¢â â French and Indian War (2) Battle of Saratoga Ã¢â â French and Indian War Ã¢â â passage of Stamp Act Ã¢â â inauguration of George Washington (3) French and Indian War Ã¢â â passage of Stamp Act Ã¢â â Battle of Saratoga Ã¢â â inauguration of George Washington (4) passage of Stamp Act Ã¢â â French and Indian War Ã¢â â inauguration of George Washington Ã¢â â Battle of Saratoga 5 Critics of the Articles of ConfederationRead MoreIndian National Army and Its Role in Independence Struggle7239 Words Ã |Ã 29 PagesIndian National Army And Its Role in Independence struggle Yogesh Dilhor ID NO. 1947 IIND YEAR, B.A., LL.B. (HONS.) DATE OF SUBMISSION: 25TH SEPTEMBER, 2012 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY 1 Contents Introduction ................................................................................................................................ 3 Research Methodology .............................................................................................................. 4 Aim .....
Wednesday, May 6, 2020
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 Ã¢â¬Å" 90 per centum of marine species in the gulf depend on coastal estuaries Ã¢â¬ 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 Ã¢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 ) . Ã¢â¬ 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, Ã¢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 ) . Ã¢â¬ 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 Ã¢â¬Å" We thought surely thatÃ¢â¬ ¦ we would see marks of harm and we Ã¢â¬Ëre really pleased to state so far, in these locations, we have nÃ¢â¬â¢t seen a big graduated table harm to the coral home grounds. We Ã¢â¬Ëre still looking, but so far, it Ã¢â¬Ës good ( Skoloff, 2010 ) . Ã¢â¬ 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, Ã¢â¬Å" You change the base of the nutrient web, it Ã¢â¬Ës traveling to ruffle through the full nutrient web and finally it Ã¢â¬Ës traveling to impact fishing and present a batch of contaminations into the nutrient web ( Brown and Masti, 2010 ) . Ã¢â¬ 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 Ã¢â¬Å" dead zones Ã¢â¬ 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 Ã¢â¬Å" dead zones Ã¢â¬ ( 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, Ã¢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 babyÃ¢â¬â¢s room land for piscaries in the Gulf of Mexico ( Weise and Rice, 2010 ) . Ã¢â¬ 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, Ã¢â¬Å" One of the last pristine, most biologically diverse coastal home grounds in the state is about to acquire wiped out. And there Ã¢â¬Ës non much we can make about it ( Weise and Rice, 2010 ) . Ã¢â¬ 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 Ã¢â¬Ës 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
Monday, April 27, 2020
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 Ã¢â¬ ¢ Analysis of financial condition and preference Ã¢â¬ ¢ Profit Planning Ã¢â¬ ¢ Financial forecasting Ã¢â¬ ¢ Financial Control B. Investing Ã¢â¬ ¢ Management of current assets (cash, marketable securities, receivables and inventories) Ã¢â¬ ¢ Capital Budgeting (identification, selection and implementation of capital projects) Ã¢â¬ ¢ Managing of mergers, reorganizations and divestments C. Financing Ã¢â¬ ¢ Identification of sources of finance and determination of financing mix Ã¢â¬ ¢ Cultivating sources of funds and raising funds Ã¢â¬ ¢ 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 Ã¢â¬â 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 companyÃ¢â¬â¢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 companyÃ¢â¬â¢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 firmÃ¢â¬â¢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 Ã¢â¬â proposed or existing Ã¢â¬â contribute positively to the ownerÃ¢â¬â¢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 Ã¢â¬â 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 firmÃ¢â¬â¢s share prices. Ethical behaviour is therefore viewed as necessary for achieving the firmÃ¢â¬â¢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: Ã¢â¬ ¢ 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. Ã¢â¬ ¢ The purchase manager influences the level of investment in inventories. Ã¢â¬ ¢ The sales manager has a say in the determination of receivable policy. Ã¢â¬ ¢ 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 treasurerÃ¢â¬â¢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 Ã¢â¬â 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 Ã¢â¬â The firmÃ¢â¬â¢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 accountantÃ¢â¬â¢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 Ã¢â¬â 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 Ã¢â¬â 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 Ã¢â¬â Finance Ã¢â¬â Finance function is an important tool in the hands of management for strategic planning and control on two counts Ã¢â¬â 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 Ã¢â¬â i) In the area of Financing Ã¢â¬â 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 shareholderÃ¢â¬â¢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 firmÃ¢â¬â¢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 Ã¢â¬â 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 Ã¢â¬â 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 Ã¢â¬â 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 Ã¢â¬â 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 Ã¢â¬ËDeed of PartnershipÃ¢â¬â¢. 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 Ã¢â¬â 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. OwnerÃ¢â¬â¢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 firmÃ¢â¬â¢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 partnerÃ¢â¬â¢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 Ã¢â¬â |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 elsewhereÃ Ã¢â¬â see belowÃ 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 Ã¢â¬â 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. Ã¢â¬Å"Financial Management is an integral part of the jobs of all managers. Hence it cannot be entrusted to a staff DepartmentÃ¢â¬ . 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) Ã¢â¬Å"Financial Management is counting pennies. We do not believe in such miserly attitudeÃ¢â¬ . vi) Ã¢â¬Å"Finance function is important as any other function in an organizationÃ¢â¬ .
Thursday, March 19, 2020
Power Transmission Essays - Electric Power, Electrical Engineering Power Transmission CHAPTER 1. GRID SYSTEM Power Transmission in a country is usually done through what is known as a Grid System. The Grid System consists of extensive interconnected transmission network supplying the whole country. Its supply from a small no. of very large and highly effective power stations. The basic network is usually 132kHZ. For a very high industrialised nation they use 275,475,800,1250 kV. Most consumers receive supplies from medium voltage distribution system of 3.3kV, 415V, 240V. For heavy industry consumer they may be supplied with 11 or 33kV. The generators produce electrical power at 11kV / 25kV and it is stepped up by using a step- up Transformer (X?mer) to a value of 132kV before it is transmitted. The receiver station will step - down the voltage to a value of 33kV at various distributions centres. Generating station 11kV / 25kV Step up X?mer 25kV / 32kV Sending station. Step down X?mer 132kV / 33kV Receiving station. Step down X?mer 33kV Heavy Industry. Step down X?mer 11kV Light Industry Step down X?mer 3.3kV Substations Step down X?mer 415V/ 240V Consumer fig. 1, Single Line Diagram . THE PURPOSE OF THE GRID SYSTEM. The purpose of the grid system is to maintain a secure supply of electricity at a standard voltage and frequency to consumers throughout the country. Having stated its purpose, we can now list several advantages that have resulted from its introduction: 1. security of supplies; 2. standardisation of frequency and voltages; 3. economy; 4. the ability to transmit very large loads for considerable distance without loss; and 5. the ability to transfer electricity to and from different parts of the country and to step up / down the voltages using X?mers (Transformers). 6. Easy way to convert A.C to D.C but the reverce is expensive FUNCTION OF THE GRID SYSTEM. In order to fill its purpose, The grid system must function in the following way. The National Grid Control Centre in association with the various grid control centres around the country, estimates the load required in different areas each day. This information is then used to arrange to purchase the countries power depending on the demand. In this way stations are used to their maximum efficiency, which in turn reduces the cost of generation. Due to the fact that the system is interconnected, bulk supply points can be fed from other areas, should a failure of the usual supply occur. DISADVANTAGES OF A.C TRANSMISSION:- 1. Skin effect - cable losses. 2. Heavy losses hence efficiency is reduced. 3. For high voltage higher harmonics are produced, hence it interferes with communication lines. SYSTEM LAYOUT OF A GRID. 3- f (PHASE), 4 WIRE SYSTEM . Vph = phase voltage VL = Line Voltage IL = Line Current Iph = Phase Current FOR STAR CONFIGURATION ( Y). VL= 3 Vph IL = Iph OB = 3 . OA 2 OB = OA 3 2 ? OC ? should be twice the value of ? OB ? , Hence OC = 2 x OA 3 2 OC = OA 3 VRY = OA 3 VL = 3 Vph FOR DELTA CONFIGURATION ( ) IL = 3 Iph VL = Vph If 3 loads are identical in every way i.e impedance and phase angle. Then the current in the 3 lines would be identical the resultant current returning down the neutral would therefore be zero. The load in this case is know as a balanced load. In actual practice its hard to find it exactly balanced. Hence the neutral wire is left to carry the leftover current. The advantages of this system compared with both a single phase and 3 phase 6 wire system is like this. Suppose 3 identical loads are to be supplied with 200A each. The 2 lines for a single phase would carry a total of 600A.. This conductor (C.S.A) would only need to be 1/3 that of single phase system but being 6 lines it would still be the 50mA current of conductor material. Hence the conductor saves an increase in the 2nd case where in the 1st case if the proper cable selection is not used overheating of the cable occurs, this will later result in a short circuit. POWER DISSIPATION IN STAR AND DELTA 3 - PHASE CONNECTION. P = VI Pph = Vph.Iph Pph = Vph . Iph [ Cos q] P3 - f = 3 Vph Iph Cosq
Tuesday, March 3, 2020
Seven Ways to Build Up Your Writing Confidence Seven Ways to Build Up Your Writing Confidence Seven Ways to Build Up Your Writing Confidence By Ali Hale Do you ever worry that your writing isnÃ¢â¬â¢t good enough? Maybe youÃ¢â¬â¢re scared to let anyone read your latest short story. Or perhaps itÃ¢â¬â¢s worse than that Ã¢â¬â you find yourself agonising over every email that you write. YouÃ¢â¬â¢re not alone. Most writers Ã¢â¬â even those who make a living from their craft Ã¢â¬â lack confidence at times. Writing is, after all, a daunting thing to do: youÃ¢â¬â¢re putting down your thoughts on the page and hoping that theyÃ¢â¬â¢ll be worthy of someone elseÃ¢â¬â¢s time and attention. A lack of confidence, though, can be crippling. It leads writers to give up before theyÃ¢â¬â¢ve even begun Ã¢â¬â or to fret for hours over the simplest of writing tasks. Whether youÃ¢â¬â¢re struggling to get to grips with grammar or preparing to launch your third novel, you can become more confident. HereÃ¢â¬â¢s how. #1: Practice Writing Ã¢â¬â Regularly As a child, I had piano lessons. I didnÃ¢â¬â¢t much like having to practice Ã¢â¬â but I knew that if I didnÃ¢â¬â¢t, I wouldnÃ¢â¬â¢t get any better. ItÃ¢â¬â¢s the same with writing. Some people love writing, others find it tedious: but either way, youÃ¢â¬â¢ll find that the more you practice, the more youÃ¢â¬â¢ll improve. That could mean: Spending ten minutes free-writing every morning Working through different writing exercises, so you get experience in several forms Deliberately working on the elements of writing that you find hard (e.g. if you write fiction, practice dialogue or description; if you write for work, practice those difficult emails) Writing a weekly post for your blog Ã¢â¬â no excuses! Write from a prompt (a word, phrase, question or image that inspires you) Your writing exercises might be for your eyes only Ã¢â¬â or you might choose to develop them into something more. Author E.J. NewmanÃ¢â¬â¢s From Dark Places is a book of short stories that started as pieces written from prompts sent in by her Ã¢â¬Å"story of the month clubÃ¢â¬ . #2: Read Widely YouÃ¢â¬â¢re probably already reading a lot in your chosen genre or area Ã¢â¬â but try dipping into a book, magazine or blog thatÃ¢â¬â¢s very different from what youÃ¢â¬â¢d normally choose. YouÃ¢â¬â¢ll come across authors who are: Journalistic and factual, giving you the details without making any judgements about them Extremely personal and introspective, writing based on their own experiences Unconventional and creative with their use of language, perhaps coining new words and so on. ThereÃ¢â¬â¢s no one Ã¢â¬Å"correctÃ¢â¬ way to write a book, a blog post, or an article Ã¢â¬â and the more you read, the more youÃ¢â¬â¢ll realise that lots of different styles can be effective. YouÃ¢â¬â¢ll learn new techniques, and youÃ¢â¬â¢ll also get a better feel for your own voice and style (look at what resonates with you Ã¢â¬â and what turns you off completely). #3: Take Time Over Your Writing If you donÃ¢â¬â¢t like writing, or if you find it anxiety-provoking, then you might be tempted to get it over with as quickly as possible. ThatÃ¢â¬â¢s not a great way to build your confidence. No writer Ã¢â¬â not even Shakespeare! Ã¢â¬â can produce a perfect piece of work in just one draft. By taking a little extra time to edit your work, youÃ¢â¬â¢ll realise that you can: Spot clumsy or ambiguous sentences and correct them Change words that arenÃ¢â¬â¢t quite right Fix any typos or spelling mistakes that have crept in I often advise writers to write a basic plan then produce a quick first draft, without worrying too much about quality: that way, they donÃ¢â¬â¢t get bogged down trying to perfect the first paragraph. After that, though, itÃ¢â¬â¢s important to edit rigorously. YouÃ¢â¬â¢ll feel more confident about your work when you know youÃ¢â¬â¢ve given it enough time and attention. #4: Learn About Writing IÃ¢â¬â¢ve been writing with serious intent (i.e. hoping to get published!) for thirteen years now Ã¢â¬â half my lifetime. IÃ¢â¬â¢ve read dozens of books and ebooks about writing, IÃ¢â¬â¢ve subscribed to a writing magazine, IÃ¢â¬â¢ve taken several online courses, and IÃ¢â¬â¢ve completed an M.A. in Creative Writing. Obviously, I wouldnÃ¢â¬â¢t have progressed very far at all if I didnÃ¢â¬â¢t actually write (see #1!) Ã¢â¬â but I learnt a lot about the theory and practice of writing from all these resources. Whether youÃ¢â¬â¢re a brand-new writer or an old hand, thereÃ¢â¬â¢s something you can learn. Look out for: Blogs on writing (like this one) Ã¢â¬â a great place to start learning for free. Books about your specific area or genre Ã¢â¬â try your library Specialised ebooks and ecourses Ã¢â¬â you might want to start with 100 Writing Mistakes to Avoid Writing conferences where you can attend lectures and workshops Degree programs Ã¢â¬â a big investment of time and money, but a great way to study writing in a thorough and rigorous way, alongside other students #5: Ask For Feedback This one requires a bit of bravery but itÃ¢â¬â¢s a great way to give your writing confidence a real boost. Ask someone for feedback. Ideally, pick a writer or tutor who you know and trust Ã¢â¬â you want them to be honest but also thoughtful. Get them to tell you what youÃ¢â¬â¢re already doing well (because thereÃ¢â¬â¢ll be plenty of good things in your work!) And ask them what you could improve on. I know it can be quite daunting to have your work critiqued but once youÃ¢â¬â¢ve edited a piece based on feedback, youÃ¢â¬â¢ll be able to have real confidence in it. #6: Share Your Work With an Audience One great way to boost your confidence is to have appreciative readers for your work. But where do you find them? The Web 2.0 era has made publication accessible to anyone with an internet connection. Sites like Blogger.com are free and extremely easy to get started with, and allow you to publish your writing online. (If you start getting serious about blogging, IÃ¢â¬â¢d recommend using WordPress and hosting the blog on your own domain, for maximum control over your work. For all things blogging-related, check out Daily Writing TipsÃ¢â¬â¢s sister blog, Daily Blog Tips.) You might even choose to put together an ebook for people to download and read. You can create this using a word processing program (like Open Office or Microsoft Word) and then convert it to a .pdf file, which can be read on any type of computer and on many devices like Tablet computers and ebook readers. #7: Submit Your Work for Publication One of the best ways to achieve publication is to send a guest post to a big blog. This can be a pretty daunting thing to do but itÃ¢â¬â¢s a huge confidence boost if you get your post accepted. Follow the tips above and make it as good as you can before sending it in Ã¢â¬â and make sure you follow any submission guidelines. You might think that you have to already be a big Ã¢â¬Å"nameÃ¢â¬ in the writing or blogging world in order to get published, but this simply isnÃ¢â¬â¢t true: editors care about the quality of your writing and the professionalism of your approach. If youÃ¢â¬â¢re a fiction writer, try entering competitions Ã¢â¬â winning a prize, or even being shortlisted, is a great validation of your work. And if youÃ¢â¬â¢re aiming to write for magazines as a freelancer, try sending in fillers or letters to the editor Ã¢â¬â a great first step in making contact and seeing your name in print. Keep Moving Forwards Ã¢â¬â However You Feel Maybe it seems like other writers have far more confidence than you. You see them chatting away at conferences, or you look at their work on big blogs or you read their prize-winning competition entries and you think if only I was as confident as them. Perhaps you already are. Maybe they spent a week screwing up their courage to send in that competition entry, or they had to take a deep breath and conquer their nerves before striking up a conversation with a stranger at that conference. As you write more (regardless of how you feel) and as you put your work out there in the world, youÃ¢â¬â¢ll find that you gradually become more confident and comfortable with your writing. What one step could you take today to help boost your writing confidence? Pick something from the list above Ã¢â¬â or add your own ideas in the comments! You can find Ali Luke posting all over the blogosphere Ã¢â¬â but her home base is on her own blog, Aliventures. If you want to get more writing done, check out her post How to Write Thousands of Words Every Single Week and follow the eight simple steps there. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:7 English Grammar Rules You Should KnowDisappointed + PrepositionEbook, eBook, ebook or e-book?
Saturday, February 15, 2020
Frazer Group and Caribou - Essay Example Its pronouncements have been applied in reporting of minority interests (Morgan et al 2009). What auditing standards are used by the external auditors? The independent auditors have applied guidelines forwarded by the Auditing Standards Board (ASB) which issues pronouncements on auditing practice (Dauber, 2009;Rittenberg et al 2011). Analyze and comment on the differences in the annual statements found on the companies' websites. Provide a few specific differences in content and format. The major differences in the two companiesÃ¢â¬â¢ financial records are evident in the Balance Sheet and Consolidated cash flow statements. To start with the balance sheets, Frazer Group Items are represented under three main classes; Current assets, Current liabilities and Equity. This is different from CaribouÃ¢â¬â¢s Balance sheet which has clear entries for, Assets (both current and non-current), Liabilities, Equity, and Minority Interests (Whittington et al 2011). In regard to consolidated cash flow statement, CaribouÃ¢â¬â¢s has clear entries for, Cash Flow for Operating Activities, Cash Flow from Investing Activities, from Financing Activities, and Net increase/decrease in cash and cash equivalents. This is quite different from Frazer GroupÃ¢â¬â¢s which clear entries for, operating activities, investing activities, and financing activities appearing less complex (Whittington et al 2012). Which one of the two companies is the most profitable? Financial records reported in "000,000" CARIBOU COFFEE FAZER GROUP 2010 2009 2008 2010 2009 2008 Tangible assets 101.725 93.727 89.572 378.1 389.6 369.4 ShareholdersÃ¢â¬â¢ Equity 62.466 50.776 44.008 126.5 120.4 118.8 Stocks 25.931 13.278 10.724 57.2 51.5 46.8 Retained Earnings 12 7 0 310.5 300.9 275.4 Turnover 242.293 283.997 262.539 1513.6 1441.1 1159.7 Personnel costs 105.993 101.169 99.865 508.7 480.9 477.6 Operating profit 15.193 10.107 5.541 58.5 44.5 135 Profit before taxes 14.926 9.721 5.306 58.4 32.9 31.9 Net profit 9. 797 5.138 4.825 58.4 32.9 24.6 Operating profit before WC 7.517 15.594 10.264 148 112.3 102.7 Dividends received 1.1 1.2 1.1 Cash from operating activities 23.092 23.578 22.462 117.7 118 116.5 Fazer Group is by a large extent the most profitable company. Looking at the net profit generated in the three years, 2008-2010, Fazer Group had an increasing profit ranging between $24.6 million to $58.4. The financial year, 2009-2010, was the GroupÃ¢â¬â¢s most profitable year (Fazer Group 2010). This is unlike Caribou Coffee which in the three years under examination recorded a net profit ranging, $4 million to $9.7 million (Caribou Coffee Financial Records 2005-2011). Financial year 2009-2010, was the companyÃ¢â¬â¢s most profitable recording a net profit of $9.7 million. Looking at the figures recorded, based on net profit which is a reasonable pointer of a companyÃ¢â¬â¢s profitability it is clear that there is a marginal difference in profitability in favor of Fazer Group (Weirich et al 2012). Compare growth of revenues versus income over time and between the two companies. In this case, the basis of the revenue growth is sales. Starting with a look at Fazer Group which is by far the bigger of the two entities we realize an irregular growth in revenue in the three years under observation. In 2008, the companyÃ¢â¬â¢s sales were $369.4 million, in 2009, the sales increased to $389.6 million, later in 2010, the sales declined to $378.1 million. This represents a growth of 5.5% in sales for the year, 2009-2010, and a growth of -2.95% for the year