Accounts Receivable and Joan Miller

Sub: Finance Topic: Journal Entries Question: Posting Journal entries into a worksheet ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects. The following are the balances in the accounts for Joan Miller Advertising Agency as of January 31, 2001: Cash Accounts Receivable Fees Receivable Art Supplies Office Supplies Prepaid Rent Prepaid Insurance Art Equipment Accumulated Depreciation, Art eq. Office Equipment Accumulated Depreciation –Office Eq. Accounts Payable Unearned Art Fees Wages Payable Joan Miller, Capital Totals Debit Credit $1,720 2,800 200 1,300 600 400 440 4,200 $70 3,000 50 3,170 600 180 10,590 ______ ______ $14,660 14,660 During the month of February, the agency engaged in the following transactions: Feb. 1 Received an additional investment of cash from Joan Miller, $6,000 www. classof1. com *The Homewo rk solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in lieu of your academic submissions for grades. Sub: FinanceTopic: Journal Entries Feb. 2 Purchased additional office equipment with cash, $800. Feb. 5 Received art equipment transferred to the business from Joan Miller, $1,400. Feb. 6 Purchased additional office supplies with cash, $80 Feb. 7 Purchased additional art supplies on credit from Taylor Supply Company, $500. Feb. 8 Completed the series of advertisements for Marsh Tire Company that began on January 31, and billed Marsh Tire Company for the total services performed, including the accrued revenues that had been recognized in January of $200 (see fees receivable). The total bill is $800.Feb. 9 Paid the secretary for two weeks’ wages, $600. Feb. 12 Paid the amount due to Morgan Equipment for the office equipment purchased last month $1,500 Feb. 13 Accepted an advance fee in cash fo r artwork to be done for another agency, $1,800. Feb. 14 Purchased a copier from Morgan Equipment for $2,100 paying $250 in cash and agreeing to pay he rest in equal payments over the next five months. Feb. 15 Performed advertising services and accepted a cash fee, $1,050. Feb. 16 Received payment on account from Ward Department Stores for services performed last month, $2,800 Feb. 9 Paid amount due for the telephone bill that was received and recorded at the end of January , $70. 20. Feb. 20 Performed advertising services for Ward Department Stores and agreed to accept payment next month $3,200. Feb. 21 Performed art services for a cash fee, $580 Feb. 22 Received and paid the utility bill for February, $110. Paid the secretary for two weeks’ wages, $600. www. classof1. com *The Homework solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in lieu of your academic submissions for grades.Sub: Fi nance Topic: Journal Entries Feb. 26 Paid the rent for March in advance, $400. Feb. 27 Received the telephone bill for February, which is to be paid next month, $80. Feb. 28 Paid out cash to Joan Miller as a withdrawal for personal living expenses, $1,400. At the end of February, adjustments are made for the following: a. b. c. d. e. f. g. h. i. One month’s prepaid rent has expired. One month’s prepaid insurance has expired, $40. An inventory of art supplies reveals $720 of supplies are still on hand on February 28 th.An inventory of office supplies reveals $300 in office supplies have been used in February. Depreciation on the Art equipment for February is calculated to be $90. Depreciation on the Office equipment for February is calculated to be $100. Art services performed for which payment has been received in advance total, $1,400 Advertising services performed that will not be billed until March total $340. Three days’ worth of secretarial wages had accrue d by the end of February. Required: Prepare the general journal entries or enter into a worksheet the transactions completed in February, 2001Solution: Joan Miller Advertising Agency Worksheet Trial Balance Transactions 1/31/2001 Name of the Account Debit Cash $1,720 Accounts Receivable Fees Receivable Art Supplies Credit 2800 200 1300 February Debit $12,23 0 3400 Trial Balance 2/28/2001 (Unadjusted) Credit Debit $5,810 $8,140 2800 200 Credit $3,400 $0 $1,300 www. classof1. com *The Homework solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in lieu of your academic submissions for grades.Sub: Finance Topic: Journal Entries Office Supplies Prepaid Rent Prepaid Insurance Art Equipment Accumulated Depreciation, Art Eq. Office Equipment Accumulated Depreciation, Office Eq. Accounts Payable Unearned Art Fees Wages Payable 600 400 440 4200 580 400 $70 3000 $70 4300 $7,300 50 3170 600 180 Joan Miller, Cap ital $50 1570 600 180 10590 Joan Miller, Withdrawals Fees Earned Wages Expense Utilities Expense Telephone Expense Total $1,180 $800 $440 $4,200 2430 1800 $4,030 $1,800 $0 $17,99 0 7400 1400 $1,400 5430 $14,66 0 $14,66 1020 110 80 $25,87 0 $25,87 0 $5,430 $1,020 $110 $80 $29,37 0 $29,37 0 ** End of the Solution ** ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects. www. classof1. com *The Homework solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in lieu of your academic submissions for grades.

Role of Nssf in Welfare Development

The National Social Security Fund (NSSF) was established in 1965 by an Act of Parliament under cap 258 Laws of Kenya. The Fund was intended to serve as the 1st pillar of social security for Kenyan workers. The ILO defines Security as the protection which society provides for its members through a series of public measures against the economic and social distress that otherwise would be caused by stoppage, or substantial reduction of earnings resulting from sickness, maternity, employment injury, unemployment, invalidity, old age and death the provision of medical care and the provision of subsidies for families with children.Social security is important for the well being of workers, their families and the entire community. It is a means of creating social cohesion, thereby helping to ensure social peace and social inclusion. It is an indispensable part of the government social policy and important tool to alleviate poverty. It can through national solidarity and fair burden sharing, contribute to human dignity, equity and social justice. It is also important for political inclusion, empowerment and the development of democracy. 1 SOCIAL SECURITY STRUCTURE IN KENYAKenya has several types of schemes which offer social security which can be divided into three broad categories:- 1. Public Schemes †¢ The NSSF †¢ The NHIF †¢ The Civil Servants Pension Fund †¢ The local Authorities Pension Trust †¢ The Public Universities Superannuation Pension Fund †¢ The Workmen’s Compensation Fund †¢ The widows & Orphans Compensation Fund †¢ The Parliamentary Pensions Fund These are established by Acts of Parliament. 2. Occupational Scheme 1 ILO resolution on social security, Geneva 2001 1 The Occupational schemes are run by employers for their employees and are underwritten by private insurance companies. . Individual Schemes The individual schemes are private schemes designed for the employed, self-employed and/ or for those in non- personable employment. The public schemes, occupational and individual schemes cover workers mainly in the formal sector. They form the first pillar where membership is not optional but compulsory. The Occupational schemes form the second pillar where membership is either voluntary or mandatory and are privately managed. The voluntary schemes form the third pillar where membership is voluntary. REGULATION OF PENSION SCHEMES IN KENYAThe Retirement Benefits Authority (RBA) is the regulator and supervisor of pension schemes in Kenya. Currently, 1350 pension schemes are registered with RBA and cover 15% of the Kenyan Labour force. Labour Force Statistics The total labour force is estimated at 8 million out of which 2. 5 million are employed in the formal sector. 2 NSSF has the largest share of the working labour force as illustrated in figure 2. Fig 2: Coverage Within the RBA 15% of Workforce67%22%11%0%1234 1- National Social security Fund 2- Civil service Pension Scheme – Occupa tional Retirements Benefit schemes 2 Central Bureau of statistics, 2007 2 4- Individual Retirements Benefits Scheme Source: Retirements Benefits Authority, 2004 MEMBERSHIP OF NSSF In 1966 membership of the Fund was 252,107. Over the years, membership has steadily grown and the Fund has a cumulative registered membership of 3,569,573. The Fund attributes this growth to an increase in the working urban population. The current active membership accounts are 887,421. NSSF currently draws its membership from workers in the formal sector of the economy.The Fund’s mandate is to register members, collect contributions, invest the contributions and pay specified benefits. The scheme is financed entirely by the employer/employee monthly contributions set at 5% of wages based on a ceiling of Kshs 4000 per month. Table 1: Membership and Contributions Received Year 96/97 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06 Members Registered 106,483 97,066 94,356 80,585 68,144 62,633 64, 301 110,413 117,508 139,100 Contributions (Kshs billions) 1. 538 1. 589 1. 539 1. 593 1. 650 1. 688 2. 562 3. 602 3. 847 4. 00 TYPES OF CONTRIBUTIONS PAYABLE TO NSSF There are three types of contributions payable to the Fund namely:- †¢ Standard contributions in respect of regular workers at kshs. 200 (employer) and Kshs. 200 (employee) †¢ Special contributions in respect of casual workers at 5% of the employer’s total wages bill †¢ Voluntary contributions payable in respect of self employed persons. Voluntary contributions range from a minimum of Kshs. 100 to a maximum of Kshs. 1000 The financial resource of NSSF is totally dependent on its members and not government funded.The types of contributions payable to NSSF have varied over time as follows:- 3 Table 2: Monetary ceiling on contributions Year Total (Kshs) Employer’s contribution (Kshs) Employee’s contribution (Kshs) 1966-1977 80 40 40 1977-2001 160 80 80 2001 400 200 200 There are differen t types of benefits paid by NSSF to its members. The Age Benefit or Retirement benefit is paid to a member who is 55 years and is no longer in employment. Payment is a single lump sum made up of total contributions and interest earned over the contribution period. Minimum interest according to law is 2. % per annum. The age benefit is paid to a member who has attained age 55 and has retired from regular employment. The withdrawal benefit is paid to a member who is at least 50 years and is unemployed. The invalidity benefit is paid to a member who is certified as being permanently incapable of working and there is no age barrier prescribed. The emigration grant is paid to a member who is permanently leaving the country and no age barrier is prescribed. The survivor’s benefit is paid to eligible dependants of a deceased member. The funeral grant which amounts to kshs. ,500 is paid to the family of the deceased member to help defray funeral expenses. In summary form the original mandate of the NSSF has been registration of eligible members, collection of monthly contributions, investment of the contributions mainly in Government Securities and payment of the contributions when due. Table 3: Contributions & Benefits paid since 1997 Financial statistics in billions of Kshs Year ended 30th June 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Contributions 1. 59 1. 54 1. 59 1. 65 1. 68 2. 50 3. 60 3. 85 4. 29 4. 6 Benefits paid 1. 53 1. 62 1. 79 1. 87 2. 21 2. 20 2. 09 2. 23 2. 3 2. 85THE ROLE OF NSSF IN THE WELFARE AND DEVELOPMENT OF THE KENYAN SOCIETY The Fund plays the role of securing the future of its members. After several years of contribution members are assured of a lump sum payment that goes towards alleviating 4 poverty. Studies have shown that the payments by NSSF have assisted members in different ways. The Fund is an active participant at the Nairobi Stock Exchange (NSE). Quantitatively the Fund's portfolio at the Stock Exchange is equivalent t o 8 °1o of the NSE value. In this regard the Fund helps to stabilize the operations of the NSE. The Fund has shareholdings in companies such as Bamburi Cement (17 °10).E. A Portland Cement (27 °10), KPLC (7 °10), Kenya Commercial Bank (9 °10), Kenya Breweries (60/0), British America Tobacco (160/0), National Bank of Kenya (480/0) among others. Should the Fund decide to dispose off its equity, this would drastically affect the stock exchange. The Fund has also developed several estates in Nairobi and Eldoret. The purchasers pay 100/0 deposit and are allowed to reside in the residential houses while paying the balance in monthly instalments for a period of 15 years. This enables Kenyans to own homes at a more affordable rate through a Tenant Purchase Scheme that is friendly. The interest rate is fixed.This goes on to assist the Government's goal of providing affordable housing to Kenyans. Besides, NSSF has several commercial buildings and plots around the country. The rents charged are fair and this stabilizes the costs of office space in the country. With regard to the plots, the Fund has sold over 2000 plots at Tassia to low income earners through the Fund's Tenant Purchase Scheme. Through collection of monthly contributions from the workers of this country, the Fund plays a role of mobilizing savings. This money is re-invested in the economy and conversely helps the government mop up excess liquidity.Part of the contributions is used to buy Government Treasury Bills and Bonds and this enables the government to carry out its financial obligations. The Fund has 39 branches spread across the Country and makes deposits in several banks where its branches are. These deposits improve liquidity of the banks enabling the banks to lend loans to the Society. It also plays the role of an Employer to Human Resource. Currently the Fund has employed 1,800 personnel who in turn support their nuclear and extended families. This can be construed to be a very positiv e role in the Kenyan Society.In its daily operations, the Fund is a consumer of goods and services. There are several service providers who benefit from them. Thus the NSSF creates employment indirectly to Kenyans by way of utilizing the services of Kenyan Companies. This includes supply of materials such as stationery, security, training, information technology and construction. 5 If the proposed conversion of the NSSF from a Provident Fund into a Pension Scheme is effected, it will be paying its members monthly pension as opposed to lump sum payment. This will greatly enhance poverty reduction in Kenya.CORPORATE SOCIAL RESPONSIBILITY In the Fund's reforms and changes the Board of Trustees and Management have made a decision to participate in Corporate Social Responsibility and involve the society at the following various levels. †¢ Corporate Membership to the Kenya Society for the Blind The Fund is a Corporate Member of the Kenya Society for the Blind and donates Kshs. 50,000 /= annually. †¢ Target Women and Children When you invest in women you invest in communities. The Fund believes in supporting small and upcoming women's groups in an effort to eradicate poverty.The Fund gives donations, offers advice, helps with investments and recruits the women through Voluntary Membership. This enables them to save with the Fund for their future. With regard to children, the Fund is actively involved in health campaigning through ventures of Mater Hospital Heart Run. The Fund contributed Kshs. 100,000/= towards this cause in 2007. It plans to set up mechanisms to help educate children who are bright through scholarships and intends to target KCPE and KCSE. The initial plan is to look for a brilliant child in each province. Standing Donation to the Elderly Members of the Society Each year the Fund donates Kshs. 50,000/= to Helpage Kenya, an Organization dealing with the welfare of the Aged. Each year the NSSF also donates foodstuffs and blankets to the elderl y. †¢ Participation in National Disasters 6 The Fund participates in National Disasters. Last year the organization through its Trustees donated Kshs. 1. 5 million towards Famine Relief. Staff members also came together to donate foodstuffs and money for the famine relief. †¢ Participation in Freedom of Hunger Walk The Fund gives a donation of Kshs. 00,000/= annually for the Freedom from Hunger Walk and also participates in the walk. †¢ Sponsors Athletics Events The NSSF sponsors events carried out by the Kenya Athletics Association. It intends to recruit young athletes to be its members and educate them on saving and steer them from poverty. †¢ Environmental Clean-up Staff Members get involved in environmental clean-up exercises in hospitals. The Staff members in Kisumu help the Women Fish mongers in the market to clean up their stalls. CHALLENGES FACED BY THE FUND †¢ One lump sum payment is made to the retiree which is inadequate. The benefits offered to t he members are limited. †¢ Limited public knowledge on the need on social security. †¢ Organizing the informal sector into a unit which can access social security. †¢ Slow growth of the formal sector. †¢ Retrenchment of Workers. †¢ High prevalence of HIV and AIDS. †¢ Tendency for employers to artificially understate workers to avoid compliance †¢ The contributions are very modest MILESTONES †¢ The autonomy of the Board of Trustees. †¢ Remarkable growth in membership. †¢ The Funds large market share in the retirement benefits industry. 7 †¢ The ability to pay the retirees. The introduction of Voluntary Contribution. †¢ The introduction of Funeral Grant. RECENT REFORM INITIATIVES †¢ Drafting of a Bill to convert the NSSF into a Pension Trust. †¢ Improved Investments portfolio through adherence to guidelines of the REA; appointment of custodian etc. †¢ Incorporation of the Informal Sector into all the NSSF's str ategic planning for growth of coverage. †¢ Improvement of service delivery through the decentralization of all core activities of the Fund to 39 branches spread countrywide. †¢ The Board of Trustees and Management are on performance contract

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Should Catholic Priests Marry Essay Example | Topics and Well Written Essays - 500 words

Should Catholic Priests Marry - Essay Example logically priests are believed to serve where Christ would have served if he was on earth and this will configure them to do as Christ did as he never got married. Though catholic priests are not allowed to marry, this paper will explore a number of ways which supports and show why catholic priest should marry It is evident that lager number of Christians value marriage a lot, and this is revealed in the book of Mathew when Jesus had a visit Peter’s house and saw the mother of his wife who was then ailing. This is one of the supports in which Catholic Priest should stand on, meaning that if one of the disciples who was close to Jesus was married then they themselves should also be married. Furthermore, Peter one of the apostles points out that state of being unmarried leads to sexual offences, and he shows this in the book of Corinthians, saying that there should be a relationship between two people, man and woman which leads to marriage. His point goes hand in hand with what is pointed out in the book of Genesis, where god commands people to fill the earth and this can only happen when people get married hence everyone must comply with bibles teaching implying that catholic priests should also marry. Today, it is all over the news on how priests struggle with celibacy and they are obligated to have secret relationships and this is detrimental to the church (Carrell). The current children sexual abuse which has wrecked the Roman Catholic is seen to have been contributed by unmarried priest, though there have been some efforts by the Catholic Churches to try and hide from the public such allegation. Priest should be given the chance to get families and celibacy in the Roman Catholics should be abandoned, so as to avoid such child abuse from the priests. This is because their conjugal rights will have been granted to them and they will not engage in these brutal acts. The above arguments do not mean that celibacy is never value or was never value by the

Steve Ballmer's New Life as an NBA Owner- TEAM BUILDER Essay

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Training and development Coursework Example | Topics and Well Written Essays - 750 words

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The Dispositional and Learning Theories Essay Example for Free

The Dispositional and Learning Theories Essay An individual’s personality is his/her distinctive pattern behavioral tendencies or psychological process that defines how he/she reacts with the environment. Personality manifests itself in one’s behavior towards others people and situations in the surrounding. While some aspects of personality are genetically inherited, others are picked from one’s environment. Personality that is influenced by the environment is developed by the context of the family or culture of the close society (Carver et al, 2000). Psychologists who study personality characterize personality traits and scrutinize their influence on and prediction of one’s behaviors. In addition to comparing and contrasting dispositional and learning theories of personality, this paper discusses the role of personality in influencing one’s behavior. The personality theories of disposition and learning and the resultant characteristics are used to explain interpersonal relations in individual. The Dispositional and Learning Theories Psychologists have developed many approaches to human personalities such as existential, humanistic, biological, or genetic, descriptive, and psychodynamic theories. The dispositional theory that regards personality to be composed of behavioral tendencies, traces its roots to ancient Greek Philosopher, medicine guru, and psychologist Hypocrites. The dispositional theory explains that psychological characteristics remain stable in an individual over a long period of exposure to a given situation. Learning theories stresses the concept that behaviors are a consequence of one’s encounters with the environment and his/her reactions to different life experiences. An individual’s experiences shape his/her behavior in different situations. The classical conditioning and punishment one receives while growing up tend to shape the way they react to similar or related scenarios in future. The learning theory may be divided into a sub-class called the Cognitive social learning that expounds on the role of cultural values and related ways of facing situations borrowed from the society. The traits are learned and internalized without any pressure applied to an individual. Personality Characteristics and Interpersonal Relationship The theories discussed above explain the origin of certain traits or characteristics upon which one’s personality is based. These traits are vital in dictating the interpersonal relationships of a person. The main characteristics include emotional stability, conscientiousness, agreeableness, extroversion, and openness or intellect. Extraversion entails being assertive, excitement seeking and state of seeking high levels of activity. The individual is always filled with positive emotions and warmth. Agreeable persons are always straightforward in their actions and are generally trustworthy. They also profess to altruism, carrying out acts that are beneficial to others while the actor forgoes comfort and happiness. These individuals are not only yielding but are also more likely to agree to other’s desire and demands. In addition, they are modest in their actions towards others and different situations. Conscientiousness on the other hand refers to positive traits such as self-discipline and dutifulness in an individual. This trait is mainly explained by the learning theory where discipline is instilled in a person by a learning process. Such people are in most cases orderly in their handling of different situations, making them develop healthy interpersonal relationships. Those with this trait tend to deliberate a lot when faced with new situations and they always strive for achievements (Carver et al, 2000). In addition to these features, such individuals are in most cases competent in their actions. Neuroticism is another characteristic attributed to the personality theories. Neuroticism refers to impulsiveness in actions, anxiety, and vulnerability of an individual. Besides being generally hostile, the person is always prone to depression when faced with unfamiliar situations. Exposure to environments of depression or cruelty enhances one’s risks of adopting such traits. Neuroticism is thus attributed to dispositional theory of personality. Openness refers to being welcoming and accommodative to new ideas, feelings and values. Such an individual easily welcomes new types of experience in his/her life. Their personality traits allow them to adjust and effectively manage unfamiliar situations. These individuals learn pick up new modes of action necessitated by interaction with new environments. Openness, which fosters good interpersonal relations, is attributed to dispositional theory of personality. Personality and Situational Behavior Debate rages on whether one’s behavior towards certain situations is controlled by the personality or the situation itself. The debate has however been productive, as an approach that is more dynamic has been adopted regarding the role of personality in facing different situations. The two approaches widely contrasted are the personality view and the situational circumstance. While the personality approach argues that one’s personality styles dictate the behavior, the situational theory stresses that behavior depends on the immediate situation. Are there situations where one’s personality surpasses the immediate situation so that he/she make rational judgment on the situation? Individuals should apply their personality to control situations and not the other way round. A person’s conduct towards a situation should not be controlled by the situation at hand. The main psychological variables upon which one’s behavior in different situations hinges are personality traits. An individual’s behavior in face of a situation is predicted by his/her personality (Carver et al, 2000). One’s behavior is influenced by the interaction between his/her personality traits and the immediate situations. However simplistic this view seems, there is always a mutual existence between the situation, and one’s personality in developing a behavioral inclination. Different situations may affect an individual in different ways. While some situations make an individual to express his/her personality traits, others limit their choices or behavior in relating with the situation. People also vary in how they allow their personality to react to different situations. While others have a high tendency to adapt to the situation, others have a consistent personality-situation relationship. This dependency on their personality is due to their inability to adapt to different situations. Personality also most often show up in situation where they are needed to help solve a problem. People also tend choose situations depending on their personalities. Personality however does not predict how one will react to a specific situation that lasts for a short/specific time. Personality therefore only predicts one’s general or overall behavioral trend towards general situations. Some individuals show behavior that is more consistent and their personality traits only emerge in some situations. Research has also shown that the influence of personality on handling of situations wanes with time. Whatever people do in life and the situations they are comfortable with are dictated largely by their traits. These choices may be in relation to careers, relationships, and lifestyle in general. Conclusion Personality, which refers to the psychological classification of people results from the different traits/characteristics inherent in individual. Among the theories that explain personality are the dispositional and the learning theories. These theories explain how individuals interact with different situations in their environment. While some people use judgment to interact with the environment, others use the approach of perception in developing a behavior towards situations. There are various characteristics attributed to these personality theories, namely emotional stability, conscientiousness, agreeableness, extroversion, and openness or intellect. Reference Carver, C. S. , Scheier, M. F. (2000). Perspectives on personality. Needham Heights

Revolutionary Republicanism Essay Example for Free

Revolutionary Republicanism Essay Revolutionary republicanism is an ideal example of the American war fighting for their independence from England. The ideology of revolutionary republicanism is pieced together from English political ideas, Enlightenment theories, and religious beliefs. This was all constituted with the revolution in thought. Many lives, economies, politics, religions, and even thoughts were changed in effect to the American war. The Revolutionary republicanism by the American War caused a lot of change in many people’s lives. Native Americans, women, African Americans, and Loyalists were all affected by this change. Many Native Americans homes, family, and fields were destroyed by the war. The group from the Native Americans mostly affected by war were the Iroquois. In the summer of 1779, American troops launched raids into the Iroquois country. These attacks caused many burning villages, the killing of men, women, and children, and destroying a lot of corn. By the end of the war the Iroquois had lost about one-third of their people as well as many towns. Even though many Native Americans lost lives because of the war, it brought countless numbers of them to America. The second group of lives changed by war were women. Women still continued to fight for their rights and freedom but they continued to be denied franchise. Women had still never voted nor held office positions except on a few occasions. Then in New Jersey the constitution of 1776 opened the franchise to â€Å"all free inhabitants† who met property and residence requirements. Many women took advantage of this. After this women’s traditional roles took a new and improved political meaning. The third group that had their lives changed because of revolutionary republicanism was the African Americans. During the war many African Americans were enlisted in support of the revolutionary cause. Then after the war about 20% of African Americans went to behind the British lines to gain freedom. Most of the blacks saw England as freedom not tyranny. The slaves who fled behind British lines never sought out their freedom. Then lastly many Loyalists’ lives were changed. Most of the Loyalists gained partial reimbursement for their losses. All loyalists were deprived of voting, confiscating houses, and banishing from their homes. Also the punishing of Loyalists, accused of Loyalism, was popular. The American war didn’t just change people’s lives it changed the economy, religion, and politics too. After the War people were into politics like never before. Newspapers multiplied and pamphlets by the thousands followed the political debates. The expansion of popular politics resulted from an explosive combination of circumstances. The war also put huge stress on the economy too even though the war ended with an American victory. The war had caused many casualties, properties being destroyed, and the local economies being unbalanced. This conflict left the Iroquois and the Cherokee severely weakened. This opened the doors to the western expansion. The ideology of revolutionary republicanism is pieced together from English political ideas, Enlightenment theories, and religious beliefs. This was all constituted with the revolution in thought. Because the war had changed so many lives and thoughts the nation as a whole began to transform. By 1783 a new nation had come into being, and it was based on doctrines of republican liberty.

Financial Analysis of Coles Ltd

Financial Analysis of Coles Ltd 1. INTRODUCTION 1.1 Purpose In this report my purpose is to do a financial analysis of Coles Ltd which provides a basis, on which the valuation of company can be done. 1.2 Scope This report conducts a financial analysis for Coles by performing a trend analysis of financial ratios using the data given for past 5 years. It also includes a cash flow analysis which along with financial ratios helps compare coles with its industry counterparts, Woolworths and Metcash; and finally this analysis would help in price valuation to calculate a fair price for coles share. 1.3 Methodology This report is based on primary data available from Coles website as well as secondary data such as research paper, electronic database and other publications. 1.4 Limitation Although all efforts have been made to use as much available information as possible but there were some constricting factors such as lack of available data of past financial information which restricted this research. Reliability of data and time constraints were also hurdle in performing this analysis. The biggest shortcoming was that current data was based on AIFR and data for years before 2005 was based on AGAAP, which made comparative trend analysis very difficult. 2. FINANCIAL ANALYSIS In this we will be evaluating the firms financial ratios and cash flow measures of the operating, financing, and investing performance of a company in relation to key competitors historical performance. Given the firms strategy and goals, together these tools allow the analyst to investigate and examine a firms performance and its financial condition. Ratio analysis is the tool which involves assessing the firms income statement and balance sheet data. On the other side, the cash flow analysis relies on firms cash flow statement. 2.1 Ratio analysis The ratio analysis deals with evaluation of the performance of Coles in perspective of its mentioned strategies and goals. In order to achieve this objective a combination of cross sectional analysis and time series analysis is performed. Workings of Ratios for 2006 are mentioned in APPENDIX 4. 2.1.1 Profitability analysis If we look at the return on equity (ROE) of Coles, for a period of 5 years, it is being observed that ROE has increased in 2006 as compared to 2002. Although ROE has fallen in 2006 (15. 30%) as compared to 2005 (18.30 %) but it can be seen that on an average Coles ROE has been stable or increased over last 5 years. Return on asset (ROA) has also been stable around 10% during the last 3 years and increasing from 7.17% in 2002 to 9.54% in 2006.The main reason for stable ROE and ROA are better performance delivered by the management and as well as the mature characteristic of the industry, that produces stable return as well as stable growth seeing population demographics in the country. Table 1 Profitability Ratio of Coles Ltd Source: Coles financial statement after adjustment Gross profit has been quite stable and good for the last 5 years but the concerned part is the net profit margin. Net profit margin has been very low, it had been increasing from 2002 to 2005 but it again fell in 2002 to 1.57% from 2.08%. Coles need to reduce its operating and interest expenses so as to increase its net profit margin. Table 2 Profitability Ratio Comparison within the industry in 2006 On comparing the performance of Coles with its industry counterparts we can conclude that Coles Ltd is way behind its major competitor, Woolworths, in terms of ROE and ROA which might be attributable to lower net profit margin and lower financial leverage. Coles has higher financial leverage as compared to Woolworths and metcash, which means it, has greater financial risk. But despite of high leverage it has low ROE which confirms the fact that Coles has low net profit margin asset turnover ratio. 2.1.2 Activity Analysis A firms operating activities require investments in both short-term (inventory and accounts receivable) and long term assets. Activity ratios describe the relationship between the firms level of operations and assets needed to sustain operating activities. Asset turnover is important in determining firms ROA; it also formulates reasons of how it will affect firms ROE. Evaluating the effectiveness of asset management is the purpose of asset turnover analysis. 2.1.2.1 Short term activity ratios Working capital is our main concern while evaluating a company. It can clearly be observed that since Coles has high turnover ratios it uses cash basis in its sales. It can be clearly being seen that it took only 4.48 days on an average for Coles to convert its inventory investment back in to cash. From the figures last 5 years we can clearly interpret that Coles has drastically improved its cash conversion cycle from 23 days in 2002 to 4.48 days in 2006. Table 3 Short-term Activity Ratios for Coles Ltd Table 4 Short-term activity ratio comparison, 2006 Now, if we compare Coles with its competitors we can see that Woolworths has lower cash conversion cycle and metcash has higher cash conversion cycle. Woolworths has lower cash conversion cycle because it keeps inventory in stock for shorter duration and stock is converted in to good sold in less span of time. On the other hand Metcash keeps inventory in stock for lower no. of days but it provides more no. of days to its receivables for payment due to which it has higher cash conversion cycle. Seeing the industry it can be concluded that Coles has good cash conversion cycle but it can improve on it by reducing the Average number of days for which inventory is in stock. 2.1.2.2 Long term activity ratios In the analysis of long term activity ratios, long-term asset turnover and property, plant and equipment turnover have been utilized. Table 5 Long term activity ratios for Coles Ltd On the whole both ratios moved in the same pattern during these periods. Relatively, this pattern shows that asset utilization has improved uniformly for the period ranging from 2002 (310.12%) to 2006(372.70%). This helps to conclude that company is continuously improving its utilization of assets to increase its production. Table 6 Long term activity ratios comparison, 2006 While comparing to its competitors it can be seen that Coles total asset turnover ratio is approximately 30% higher than its competitors. It helps to analyze that Coles is more efficiently utilizing its resources to increase its production as compared to its competitors. Metcashs high PPE turnover ratio can be contributed to the fact that PPE forms a very small part of Metcashs total assets. If compare Coles with its major competitor Woolworth on PPE Turnover Ratio we can conclude that Coles has been utilizing its fixed asset better than Woolworths. 2.1.3 Liquidity Analysis Liquidity is referred to a firms ability to have sufficient funds when needed and convert its non-cash assets in to cash easily. Liquidity Ratios are employed to determine the firms ability to pay its short-term liabilities. Liquidity analysis enables us to determine Coles ability to cover its liquidity risk. Liquidity risk may arise due to shortfall or over liquidity within the firm and this in turn lead to firms disability of fulfilling its liquidity needs. In order to determine firm liquidity level, Current ratio, quick ratio and cash ratio are short- term liquidity ratios which have been employed. Table 7 Coles Short-term Liquidity Ratios On doing the trend analysis for last 5 years it can be observed that Coles current ratio has been consistently falling, which increases the possibility that Coles will not be able to meet up its short term liabilities. Current ratio has fallen from 1.37 in 2002 to 0.98 in 2006 which is of major concern, as a current ratio of less than 1 means that company has negative working capital and is probably facing a liquidity crisis. The more stringent measure of liquidity is quick ratio and cash ratio which have also been falling uniformly in last 5 years. It seems Coles is falling in to liquidity crunch and might need short term funds to meet its current liabilities. There has been lot of volatility in the cash ratio of the firm as they have been rising and again falling, so we can conclude that Coles is not able to maintain stable liquidity. Table 8 Short term liquidity ratios comparisons, 2006 As compared to its competitors Coles has better current ratio than Woolworths but has current ratio less than Metcash. Comparing Coles with its major competitor in retail sector, Woolworth, we can clearly see Coles has better current cash ratio but is behind on quick ratio. On comparing with metcash we see that Coles is behind on all the short term liquidity ratios by a very high margin. Metcash has twice the cash ratio as compared to Coles, which makes Coles ability to meet its short term liabilities questionable. 2.1.4 Long term Debt and solvency Analysis The analysis of a firms capital structure is essential to evaluate its long term risk and return prospects. The long term debt and solvency ratios which we are going to use here are debt to equity, debt to capital and interest coverage ratio. Table 9 Coles long term Debt and Solvency ratios As indicated by Coles debt and long term solvency ratios, it denotes that firm is not a solvent company and relies heavily on debt financing. The firms debt to equity and debt to capital ratios are consistently above 1.00 which shows that Coles employed more debt than equity as its source of financing. Debt to total capital has also been consistently been around 0.55-0.60 during the 5 year period. This shows that firm has been stable with its financing policy and has not done much change with its debt and equity mix. Since it relies so heavily on debt financing, issues can be raised regarding its ability to pay off the interest arising due to long term debt financing but we see that company has EBIT 7 times more than the interest charges it has to pay, so that should concern much. It can be observed interest coverage ratio has declined in 2006, as compared to 2005 2004, but it is still able to meet industry benchmarks. Table 10 Debt and Solvency ratios Comparison 2006 Compared to its competitors, long term solvency ratios of Coles seem to be performing optimally. Woolworths has got the highest debt to equity, debt to capital interest coverage ratio. Historically a debt to equity ratio of 2:1 is considered optimal so Coles can still rely on debt to finance its future undertaking rather then issuing new shares. It can be observed that Coles has interest coverage ratio greater than Metcash but less than Woolworths but that can be attributable to its low profit margin as compared to Woolworths. It seems Coles is at par with its competitors in terms of debt and solvency ratios. 2.2 Cash Flow Analysis Cash flow analysis is essential to understand that whether the firms cash flow have the ability to sustain the business, to meet unexpected obligations and to meet its short term liabilities. This also helps to understand whether firm will be requiring additional financing and firm can take advantage of new business opportunities as they arise. In cash flow analysis we will evaluate 3 ratios; Operating cash flow to current liabilities, Interest coverage (cash flow basis) operating cash flow to dividend payment. Methodology for calculation of cash flow ratios is shown in APPENDIX 5 Table 11 Cash flow ratios for Coles Ltd Based on the table above, we can say that Coles has the ability to service its debts which can be seen in firms interest coverage ratio from cash flow basis. Moreover, we observe that Op. cash flow to dividend payment has fallen over the time span from 2002 to 2006 which could be an area of concern. Operating cash flow to current liabilities has also fallen a bit, which means it can be a problem for the firm if certain unexpected obligation come up due to which it might require additional financing. Table 12 Cash flow ratios Comparison, 2006 If we compare Coles to its competitors in the industry which it operates we observe that Coles has got better interest coverage ratio (cash flow basis) as compared to Woolworths Metcash which means that Coles has better ability to service its debts than its counterparts. Coles also has a shortcoming in operating cash flow to dividend payment ratio, as it can be seen it has the lowest operating cash flow to dividend payment ratio. It can be attributable to the fact that it pays more dividends than it should pay. So it can be concluded that Coles needs to reduce dividend payment as it might lead Coles in to financial difficulties if some unexpected obligations turn up. In terms of operating cash flow to current liabilities we see that although it has fallen substantially for Coles in last 5 years but it is at par with its biggest competitor Woolworths greater than Metcash. 3. Prospective analysis Prospective analysis enables us to determine future performance of the firm based on historical performance of the company. Here will be determining the mean return for sales and earning before interest taxes (EBIT) . Using those mean returns we will be making a sales forecast and EBIT forecast. 3.1 Sales and EBIT forecast In determining the sales growth, I have considered the following assumptions- Past trend of sales is going to continue in the following years. Firm is not going to bring a major change in its pricing policy. The foundation for sales EBIT growth is historical sales EBIT growth and I have used mean reverting model to determine the future sales growth, in which future sales EBIT growth will be mean return of last 4 years sales growth. I have not taken the 5 year sales EBIT growth because EBIT growth rate is to high in 2002 (73%) which could adversely effect the mean return considering present situation of Coles. Table 13 Sales EBIT Growth Rate for Coles Ltd Using the mean reverting model we are able to find out a growth rate of sales for 7.64% EBIT growth rate of 11.87%. Using these growth rates we will be able to make a sales forecast EBIT forecast. This forecast will help in proper valuation of Coles on the basis of its predicted future performance. Figure 1 Line chart for sales EBIT growth Table 14 Sales EBIT Forecast for Coles LTD Using the growth rates we can forecast the sales and EBIT for Coles which helps an analyst in a fair valuation of the company. The main reason we use the sales growth as a base for forecasting, is that the majority of firm income is derived from its supermarket business. This forecast suffers from one serious shortcoming that EBIT growth has fallen from 34.31% in 2004 to 11.16% in 2005 and then to -17.07% in 2006 but we are still predicting a growth in EBIT of 11.87% in 2007 and thereafter. 4. Conclusion I have gone through the multi-step process of ratio analysis, cash flow analysis and prospective analysis to present a report on financial analysis of Coles ltd. During the process, I have identified that Coles is operating in a mature industry with small profit margins. I have performed ratio analysis, cash flow analysis prospective analysis which would help a great deal in valuation of Coles based on its current market situation. During the Ratio analysis I was able to conclude that Coles has got good activity liquidity ratios but the major area of concern is profitability ratios. Coles needs to improve its net profitability so as survive in this competitive environment. Cash flow analysis helped us to depict that Coles has cash flow ratios at par with its competitor, Woolworths, but Coles need to reduce its dividend payout as it is too high as compared to industry counterparts. By doing a prospective analysis I am able to forecast the future sales EBIT for Coles for next 4 years. Growth rate for forecast has been calculated using the mean return for past 4 years. This helps us to understand future growth of the company. I would like to conclude by saying that although Coles is competing in a low profit margin industry but it is the 2nd biggest company in the retail industry, therefore if it brings about certain petite changes in its financing and operating activities it can add a great deal to its shareholders value.

Barn Burning Essay -- essays research papers

William Faulkner is concerned with the south and its problems with black slavery. The issues in Barn Burning deal with the conflict between father and son. The theme of this story focuses on justice. The boy, Sarty, objects to his father burning barns and wants people to be treated fairly. His father, Abner, believes his son should respect and support kin. Abner thinks family is right no matter what. Faulkner’s intent is to show that choosing between one’s own family and justice is very difficult to do, and in the end justice must prevail. The theme is best illustrated by its point of view, its characterization, and setting.   Ã‚  Ã‚  Ã‚  Ã‚  Faulkner represents his point of view using both first and third person to translate his theme. The story is being told by Sartoris Snopes who is a boy at the time the story takes place. Throughout the story he shifts from first to third person narrative voices. At times in the story he would speak as only a child would, then something would be said by him which was too knowledgeable for a boy his age to know. This gives an impression that he is older and is remembering things of his past. Switching between first and third person shows that the choice he made greatly affected him.   Ã‚  Ã‚  Ã‚  Ã‚  The way the characters are portrayed remarkably depicts Faulkner’s theme. The two conflicting characters are described in similar ways to show their differences. Abner is described by how people see and think about h...

A braid of loneliness Essay -- Character Analysis, Rayona, Ida

â€Å"The most terrible poverty is loneliness, and the feeling of being unloved.† –Mother Teresa A Yellow Raft in Blue Water by Michael Dorris is a novel about Native American, narrated by three generations of Indian women; Ida the grandmother, Christine the mother, and Rayona. The stories of three people, â€Å"twisting and tying and blending,† fabricate the braid of their relationship. Each of three strands is a complicated composition of hairlines. There is a hairline that all strands have in common and shape this braid: loneliness. Through the story, loneliness played a crucial part in every character’s life. It is the important cause of characters’ action. It shapes the relationship between mother and daughter. Ultimately, one’s loneliness shapes not only that character, but also affects and causes the loneliness in the next generation. The first character who tells her story is Rayona. Being the last generation, she is in the bottom of the well of loneliness. After her parents separated, Rayona lives with Christine, her mother, who habitually changes her job and moves to the new place. Consequently, she never stays in any schools long enough to make some friends. Her life with Christine is also bitter. In Rayona’s opinion, Christine does not take care of her much. She said â€Å"I try to recall what Mom says when she’s sentimental and lonesome: how he was the best one, the only one, because he left her me. How I’m her sterling silver lining, the one who’ll never leave her like he did. Like she did me.† (64) She is disappointed by Christine’s care that exists only in her speech. Lacking of both friends and warm family, Rayona suffered from loneliness. When she goes back to the reservation with Christine to stay with Aunt Ida, Chris... ... ease her with the warmth of my body, to support her with the strength of my arms. But she did not expect this from me, and I did not give it.† The loneliness of mother is the unwanted gift. From generation to generation, the hairlines of loneliness twist and tie the braid of this family. It obstructs the hairline of love. It obstructs the hairline of care. It leads the braid of this family to nowhere. Loneliness is a cell that imprisons mother’s love from reaching the daughter, leaves them feeling unloved, and became lonely. This baneful hairline will continuously distort the braid until they realize. Until they realize that the solution is turning back to face the reality, holding hands and let the truth comes out, then, the three-generation-long loneliness will disappear. The braid will be set in the right shape and tie the family members together with love. A braid of loneliness Essay -- Character Analysis, Rayona, Ida â€Å"The most terrible poverty is loneliness, and the feeling of being unloved.† –Mother Teresa A Yellow Raft in Blue Water by Michael Dorris is a novel about Native American, narrated by three generations of Indian women; Ida the grandmother, Christine the mother, and Rayona. The stories of three people, â€Å"twisting and tying and blending,† fabricate the braid of their relationship. Each of three strands is a complicated composition of hairlines. There is a hairline that all strands have in common and shape this braid: loneliness. Through the story, loneliness played a crucial part in every character’s life. It is the important cause of characters’ action. It shapes the relationship between mother and daughter. Ultimately, one’s loneliness shapes not only that character, but also affects and causes the loneliness in the next generation. The first character who tells her story is Rayona. Being the last generation, she is in the bottom of the well of loneliness. After her parents separated, Rayona lives with Christine, her mother, who habitually changes her job and moves to the new place. Consequently, she never stays in any schools long enough to make some friends. Her life with Christine is also bitter. In Rayona’s opinion, Christine does not take care of her much. She said â€Å"I try to recall what Mom says when she’s sentimental and lonesome: how he was the best one, the only one, because he left her me. How I’m her sterling silver lining, the one who’ll never leave her like he did. Like she did me.† (64) She is disappointed by Christine’s care that exists only in her speech. Lacking of both friends and warm family, Rayona suffered from loneliness. When she goes back to the reservation with Christine to stay with Aunt Ida, Chris... ... ease her with the warmth of my body, to support her with the strength of my arms. But she did not expect this from me, and I did not give it.† The loneliness of mother is the unwanted gift. From generation to generation, the hairlines of loneliness twist and tie the braid of this family. It obstructs the hairline of love. It obstructs the hairline of care. It leads the braid of this family to nowhere. Loneliness is a cell that imprisons mother’s love from reaching the daughter, leaves them feeling unloved, and became lonely. This baneful hairline will continuously distort the braid until they realize. Until they realize that the solution is turning back to face the reality, holding hands and let the truth comes out, then, the three-generation-long loneliness will disappear. The braid will be set in the right shape and tie the family members together with love.

Advanced Project Procurement

With the increased globalization, competition and complexity in global supply chains, more companies have realized that supply chain management is critical to the optimal organizations overall operation. It is not longer just the responsibility of the warehouse manager and logistics director. In the past, many organizations didn’t manage their supply chains they left that up to the suppliers. Usually the supply chain planning, marketing, production and inventory management in most organizations operated as separate departments (Stevenson, 2009). Businesses have recognized the strategic importance and the need for effect and efficient supply chains in operations management (Stevenson, 2009). Assessment As Vice President of Operation my assessment of the battery shortage problem is that SDX are not fulfilling their obligation under the contract. The contract states â€Å"the supplier is expected to achieve a 100 percent service rate† (Benton, p. 456). The current supply of batteries is a 20-day supply this is 70 days short the supply when normal should be a 90 day supply. There has not been a shipment in two months this lead me to believe that SDX are not making Butler a priority shipment. The action taken is to request a meeting with the attorneys to review the contract, because at this point it is a breach in contract. The contract also states that the product prices are fixed for the term of the agreement and a sixty day notice must be given before a price change can occur. SDX did not notify the Butler Operations to alert us of this change. Therefore, this is another breach in contract the SDX company has determine on its own that the contract is null and void. This is not good business practice and creates a problem with Butler’s ability to supply the customer base effectively. Buyer Selection Purchasing involves buying the raw materials, supplies, and components for the organization. The activities associated with it include selecting and qualifying suppliers, rating supplier performance, negotiating contracts, comparing price, quality and service, sourcing. A key and perhaps the most important process of the purchasing function is the efficient selection of suppliers, because it brings significant savings for the organization. The objective of the supplier selection process is to reduce risk and maximize the total value for the buyer, and it involves considering a series of strategic variables. Conclusion In conclusion, focusing on selecting only the best suppliers possible will make a major contribution to the competitiveness of the entire organization. This main task requires careful evaluation, selection, and continuous measurement of the suppliers that provide the goods and services that help satisfy the needs of an organization’s final customers. In other words, once a supplier is selected, the focus must shift from supplier evaluation to the continuous measurement of supplier performance. An organization must have the tools to measure, manage, and develop the performance of its supply base.

Mergers and acquisitions may intensify in Indian FMCG sector Essay

New Delhi, Sep 19 (IANS) The food, drinks and consumer goods industry is likely to see a consolidaton in the coming months, with large size firms looking to improve margins by acquiring smaller peers, according to global consulting firm KPMG. â€Å"The Indian household and personal care market is likely to continue to see deal interest from strategic players in 2010 because it requires significant marketing and advertising spend, as well as distribution channel investments, to build scale,† said a recent global KPMG report on mergers and acquisitions in consumer markets. The report, which calls India † a busy market driven by consolidation and economic growth†, said players with limited financial muscle and brand portfolio are expected to yield to their larger counterparts. Another reason for consolidation is the expanding footprint of large organised retailers such as the Future Group, Shopper’s Stop, Reliance Retail and Aditya Birla Retail. The retail chains are squeezing the margins of food, drink and consumer goods (FDCG) companies. Though foreign players are barred from operating in the multi-branded retail segment, global retailers such as Wal-Mart, Metro and Tesco have still entered India through franchises and partnerships in their cash and carry wholesale businesses. Add to this the pressure from multi-national behemoths like Hindustan Unilever and Procter & Gamble, which are taking the pricing war to smaller Indian firms. â€Å"This has pushed Indian FDCG businesses into consolidation as many believed they had reached the limit of their growth. We believe the pressures behind this will continue throughout 2010 and result in increased transaction volumes,† said Nandini Chopra, practice head, consumer and retail corporate finance, KPMG in India. â€Å"However, the lack of large acquisition targets and the number of acquirers looking for opportunities means valuations will continue to be at a premium,† said Chopra. The food and drink sector in India is, however, unlikely to see any large deals because the local brands have not scaled up beyond the $20-25- million mark and the larger deals have already taken place. Since French food and facilities management frim Sodexo SA acquired Radhakrishna Hospitality Services for $125 million in March 2009, activity in this sector has been relatively slow. Indian Consumer goods are now increasingly looking beyond their shores for the next growth wave. Godrej, Wipro, Dabur and Marico have made several acquistions across Asian and African markets. â€Å"These companies are all poised to become global FDCG (food, drink and consumer goods,† said Chopra.

Mount Kilauea

Mount Kilauea is the most famous volcano in Hawaii. It resides in the southeast in Mauna Loa. This volcano has one of the biggest craters of all volcanoes, consisting of 3,646 feet deep. It has an 8 mile circumference and is encompassed entirely by an enormous â€Å"wall of volcanic rock 200 to 500 ft high† (Mount Kilauea). â€Å"Mount Kilauea is a low and flat shield volcano that rises only 1,247 meters above sea level. Till date, the Kilauea volcano is the most active and the most visited volcano in the world† (Oak, By Manali). Mount Kilauea is the youngest volcano in Hawaii. It has a lava level of 740 ft. nder the rim. â€Å"Kilauea was formed under a hot spot under the crust. So were the other volcanoes on the Big Island such as Kohala, Mauna Kea, Mauna Loa, and Hualalai. There have been 34 eruptions since 1952 and 61 eruptions total† (Mount Kilauea). Hawaii has eight volcanoes and for the moment consists of 4,038 square miles. This will not be the case for long though, because thanks to Mount Kilauea, approximately forty-two acres are added each year from the eruptions. Mount Kilauea is only one of the five still-active volcanoes in Hawaii, but it is definitely the most famous. This is due to a variety of reasons but not the least of which is the belief that the Mount Kilauea Volcano is the resting place of the infamous fire goddess Pele. Pele is a very interesting character in Hawaiian history. There are many stories but one of the most common stories tell of how she was born to a family with six sisters and was exiled for fighting with her elder sister Na-maka-o-Kaha’I and for seducing her husband. Assumed dead by her family she made her way to Hawaii where she dug numerous fire pits, eventually creating the Haleakala Volcano. When she did this her older sister realized that she was still alive and went to kill her. â€Å"She succeeded in an epic battle of natural forces. Legend says her bones remain as a hill called Ka-iwi-o-Pele† (Pele). When she died she became a god and settled in â€Å"her final and eternal fire pit†, Mount Kilauea (Pele). Legend also says that she still appears from time to time before eruptions to seduce young men ever closer to her volcano, sealing their doom. In two hundred forty-five years the infamous Mount Kilauea has erupted 62 times. An eruption begun in 1983 is still in process to this day. The eruptions at Mount Kilauea occur mainly from either the summit caldera or along the East and Southwest rift zones, which run parallel to the coastline† (Oak, By Manali). Most of the lava flows to the Pacific Ocean shore. â€Å"Much of the surface of Kilauea is comprised of lava that is around 1,000 years old while some part of the surface is about 600 years old† (Oak, By Manali). The little moisture that is gathered from the trade winds of the northeast is pushed away constantly by Mount Kilauea. This process has caused the surrounding region to be in a fairly constant rain shadow. Another thing about the volcano is that it gives off sulfur dioxide whenever it erupts. â€Å"These factors produce a desert effect in the Kilauea region. The winds that flow in this region carry along the ash produced by the volcano, causing dunes and dust storms† (Oak, By Manali). Mt. Kilauea volcano has a complex system for magma plumbing. It extends all the way to the surface from about 60 km below the surface of the Earth. The lava is of the type basalt and it erupts from the volcano cone, flowing through system of tubes down the Pulama Pali, which is about 11 km to the sea. Mount Kilauea is a volcano that will not be soon forgotten, especially since it is still one of the most active volcanoes in the world. It brings tourists from all over. They come to appreciate an infamously active volcano in its element. Even today we still have things to discover about it. â€Å"The Hawaiian Volcano laboratory has been set up to enable the researchers in volcanology to study the mount Kilauea volcano† (Oak, By Manali). It continues to interest scientists across the world. The Mt. Kilauea volcano, believed as being the present home of the volcano goddess, Pele, is truly one of the wonders of nature.

Candy empathy task Essay

Well, here I am again on the same old ranch full of the same old ranch workers. It wasn’t going to be like this. I nearly got away from it all. Ya see, in all them other I had a dream. Made me feel kinda special, I s’pose, because there ain’t too many guys who hang on to a vision these days. Anyhow, Lennie’s gone now. I gotta say even if he was a crazy bastard that shattered my dream, he was someone to talk to, in fact; he was the one that told me about the dream in the first place. I will miss that crazy bastard. Ways are back to what they were before George and Lennie turned up. The same old people as before. Curley is still as cocky as before except he has a screwed up hand. I heard Curley say to Carlson that if he comes across another girl that he likes his hand is going into that glove again. And the other difference is that my companion is not here. I remember how he used to follow me everywhere even if he was getting a bit old and did not look very attractive like he used to; but that was hardly his fault. Still if it had to be done I would have preferred to do it myself. He was my dog, my companion, my friend. I don’t know how I am going to get through the last few years of my life without him. I shoulda done it myself. They woulda let me leave this ranch but where would I go. I can’t go to the farm on my own can I. The thought of leaving my dog behind, is just too powerful so I’ve decided I’m not going anywhere. My dog jus goes round and round in my head. I mean, Carlson is a fine bloke ‘n’ all but I still regret it. I bet it was that Curley that told him to do it. Bloody ‘hand fulla Vaseline’ guy. From the moment Lennie and Curley met everyone was expecting trouble. I mean, that was all we talked bout at dinner. Those two are a right pair. I mean, a crazy bastard and a golden gloves champion. Yet, it looked like the crazy bastard lost in the end. After all that he did; I mean, crushing Curley’s hand and breaking his wife’s neck. He went and lost the fight. There ain’t nobody that I know of, and if there was I would know, that has done that much damage to Curley. So off he went to find Lennie and put an end to it. Then all I remember was that Carlson’s gun was missing. Rumour has it that George hadda overpower Lennie to get the gun. Then Lennie got shot in a struggle but I gotta feeling that, by the way Slim was quiet, that something is not right. Everyone’s moving on now. George has left. Lennie is dead. Curley’s wife is dead. Curley’s gotta new girlfriend. I nearly hadda new pup from Lulu, Slim’s dog, but jus as I was pickin’ it it made me feel bad inside; made me feel even worse bout my old companion.

A study of the performance of the lucky plush dance in the product cinderbox 2.0

A study of the performance of the lucky plush dance in the product cinderbox 2.0 The Lucky Plush dance company graced the stage with their innovative and abstract performance of Cinderbox 2.0, a work that â€Å"explores reality television and the anxiety of hyper-networked America.† Although the term dance theatre has been mentioned in readings and lectures, never before has the literal combination of dance and theatre through choreography and text been seen on a live stage.The performance was rather complex, with several sensory media present at once to appeal to the audience. This essay will discuss the union of text, choreography, and multimedia in the piece, as well as the social commentary it attempts to make. Text and choreography creatively come together in Cinderbox 2.0 through the company’s twofold role of dancing and story telling. Throughout the work the performers switch off from dance to speech delivery; without one, the other would neither make sense nor be as effective to the audience. At the very beginning a female member delays the program by talking on her cell phone longer than expected, for example. After her monologue with the phone, she jumped right into her position (pushing someone out of the way in the process) and the dancing commenced. Near the end of the performance the company came together to lift one member at a time while that person spoke about a social issue in a lifted dancer’s position; this combination demonstrates another combination of text and choreography. The aesthetics of the movements complemented by the short monologues in succession augment the purpose of Lucky Plush’s performance. The structures of the text and choreography are both similar and different in the way that they were usually presented in a way in which they took turns dominating the stage at any particular moment in the piece; however they varied by length throughout and sometimes had no relation with one another. The ridiculous discussion of Fiji brand water, for example, would be separated from the dance and intertwined between the movements. Also, the moment in which the woman who always stops while attempting to sing a song (and asks to try again) occurred many times, but between dance breaks. Finally, a similarity in structure between text and choreography was that two or groups of two people usually performed both. The frequent pair work in the production further defines how it is indeed dance theatre. In addition, there were some moments in which dance and text were being performed at the same time on stage. An example of this is the illusion of the male and female dancer watching some sort of media(likely the television). Another male dancer was dancing in front of them, as if they were watching him; however the movements sometimes did not match up with what they were watching (although in the beginning there was a mention of fishing while the dancer was insinuating the activity). But every once in a while, when the female performer became excited at the sight of her favorite part of whatever she was watching, the dancer would correspond with her by shaking his head rapidly in front of her. There definitely was some abstract connection between the text and choreography here as well. All of these examples of the combination and connection of text and choreography compile into one thing: dance theatre. One cannot call Cinderbox 2.0 simply dance or theatre because aspects of each are seen within the performance; they function together to create modern dance with a purpose: in this case, a social commentary. At some points the dance and the theatrical pieces of the work do not appear to relate to one another, but at other points they would not be regarded by the audience as highly and mentally if they were not together. What is certain, however, is that dance and theatre are both used to entertain; therefore their combination into dance theatre augments the entertainment factor even further. This assists in conveying more prominently the ideas of the piece as a whole. Lucky Plush’s effort in displaying a seemingly chaotic performance does not go without purpose. The spectacle was a social commentary of a hyper-networked America, and how various media, especially television, plays a vital role. It all began with the woman on her phone, delaying the commencement of the dance. Later the pair watching ‘television’ becomes completely enthralled in the program by coming face to face with the dancer personifying said program. The Fiji water discussions and satirical individual interviews/commentaries (which were delivered while being lifted in a dancer’s position) expressed the characters’ self-appointed authority over the featured discussion of topics; they were only known as a result of the superficial information given by the various media to which they have been exposed. This moment in the performance was further highlighted with the singing of â€Å"We are the Champions† by Queen, increasing the idea that pe ople, as a result of media, develop a sense of false and undeserving pride. The performance ends with a fight in dance form: the result of empowerment by the media that leads to competition. Cinderbox 2.0 was a very difficult piece to decipher; it was filled with abstract and (at times) confusing details. Lucky Plush really succeeded in involving the audience by looking right at them and at one point in the production calling someone seated off stage amidst the crowd. They brought the spectators in to realize the consequences of being hyper-networked and excessively influenced by the media. It seems like the theatre-half of this work of dance theatre was more effective in conveying the underlying message. This performance demonstrates that any aspects of art can be combined to deliver something entertaining and insightful to an interested audience.

Revolutionizing the Retail Sector Case Study Example | Topics and Well Written Essays - 1000 words

Revolutionizing the Retail Sector - Case Study Example The two systems incorporated advanced technology during their upgrade. Consequently, they reduced the costs that organizations incurred as they used the systems (Heidari, 2008). Additional challenges that the invention of the quantum blade and the retail blade system solved entailed rising ownership costs, incompatibility and in efficiency of systems as well as rising operational costs. Problems Digipos faced with regard to system upgrades Digipos experienced several challenges while designing systems that could reduce cost of operations within businesses. Consequently, the company has struggled to cope with changes in technologies that could tackle the desires of clients. Thirdly, Dogipo’s products were incompatible with other technologies. Additionally, the management wanted to reposition the company as leaders when designing technological products that served the needs of the retail businesses. Digipos was facing stiff competition from other companies that designed technolo gical systems that could be used in the retail environment. Besides, they were unable to design systems that were simple to use. According to Heidari (2008), the challenges that the company faced caused dissatisfaction among the users of the company’s systems. ... As a result, the company formulated systems that set the stage for exemplary results. Consequently, the management embraced the use of advanced technologies while designing systems. This facilitated the design of quantum blade and the retail blade system. Following the inventions, the company engaged in research that enabled the management to design systems that reduce the cost of operation within businesses. Additionally, Digipos designed systems that used reliable hard drives. This method was effective because consumer prefer systems that are reliable when reducing cost of operations (Stair & Reynolds, 2012). People embraced the use of the Quantum Blade and the Retail Blade system because the systems are affordable and simple to upgrade. Digipos has also designed systems that are compatible with systems manufactured by other companies. Digipos is equally succeeding because it focuses on the needs of clients while designing systems. They are also providing clients with several alter natives. In order to reduce the total cost of operation, the company has opted to upgrade their systems in phases to cope with the changes in the technology. It is equally evident that the systems designed by the company can handle difficulties that retailers face while adjusting their systems (Sennewald & Christman, 2008). It was previously costly for small businesses to install systems manufactured by Digipos. However, this changed with the invention quantum blade and the retail blade systems. These systems are inexpensive and easy to upgrade. Compare and contrast the Quantum Blade to the Retail Blade The Quantum Blade and the Retail Blade

Social Class systems Essay Example | Topics and Well Written Essays - 250 words

Social Class systems - Essay Example Studies conducted show that forty two percent of men born in the bottom five social classes stay that way when they become adults. To add to the figures, just eight percent of Americans born at the bottom, rise to the top. From this figures it is safe to argue that contrary to popular belief, America is in fact a caste social system. There are various reasons for this argument, the first being that the country has a thin safety net to cushion children from poverty, therefore less class mobility. We find that in most poor children are raised by single parents, a factor which increases poverty levels. This is compounded, by racial discrimination which leaves most people of color, especially African Americans vulnerable and poor, compared to the other races. The second reason is that in our society, education is enables one to get a higher salary. This leaves people from poor families at a disadvantage because upper income parents invest more in their children’s education to increase their chances of success in life. The children of the high income earners go to the best schools and are prepared to learn. It is safe to argue that most people at the top are there due to their backgrounds, more than merit. Ours is therefore a system of the poor remaining poor and the other way round. The kind of education you get how the police treat you and even who you get married to, is largely influenced by your social

Strategic management module Assignment Example | Topics and Well Written Essays - 1250 words

Strategic management module - Assignment Example In addition, further discussion will analyse the reasons why merger and acquisitions sometimes fail despite their implementation as primary aspects of strategic growth. Morgan Sindall group is one of the leading construction and regeneration companies in the UK. The organization is divided into five major divisions: fit out, construction and infrastructure, affordable housing, urban regeneration, and investments. The company undertakes both public and private work projects. Its key subsidiaries include Overbury, Lovell, Morgan Lovell, Morgan Sindall investments and Morgan Ashurst. According to its 2013 fiscal report, its annual sales amounted to $ 3454.1M with a net income of $24.9M which marked an income growth of 50% for the year 2013 (Morgan Sindall Group Annual Report, 27-29). According to Simerson, corporate strategy refers to the processes by which an organization creates value through synergy and coordination of its principle operations (p. 17). The primary goal of corporate strategy is to map the ways by which an organization will attain growth by adding value and enhancement of competitive advantage over rival business firms in the industry. According to Grunig and Richard, development of corporate strategy consists of six elements: organization, businesses, resources, coordination, control and competitive advantage (p. 37). Consequent synchronization of these six elements leads to synergic combination of the chief functional activities that ultimately result to optimum capture and creation of value in an organizational environment. Some of the key tasks in corporate strategy entail acquisition of new business, formulation of investment priorities, implementation of efforts to boost performance and identification of the mechanism of achieving busines s synergy. Morgan Sindall plc has established itself a wholesome provider of construction services and affiliated activities. This is exhibited the company’s subdivisions which

Discrimination Article Example | Topics and Well Written Essays - 250 words

Discrimination - Article Example Actually, the word justice was originated from the Greek word ‘polis’ which has greatly been altered from its real sense. It was a gradual development that the concept of justice became the inevitable part of moral ideals beyond its mere political meaning. The key point that the writer puts forward is that all citizens must be ensured justice irrespective their class, strength, or ethnicity. However, reverse discrimination obviously ignores the majority groups while it attempts to favor the unwanted groups like the black. Apart from it, if some ethnic groups such as Americans, Indians, Chicanos, are to be considered as low classes the concept of minority seems to be the creation of ethnic groups. The term equality in legal perspective has less importance in the reverse discrimination concept. The writer wants to specify that the law must consider all citizens equal regardless of their wealth and talent, or ethnicity. In addition, the weaker sections should be equally considered by the law by means of special privilege; and they can not be considered as unwanted segments of the society. However, the writer does not purport a specific alternative to reverse discrimination which would preserve equality and justice in their true

Why are the events surrounding the South Sea Company often described Essay

Why are the events surrounding the South Sea Company often described as a financial bubble Identify at least one other famous bubble and discuss what feat - Essay Example With desires to get rich quickly, ambitious investors hurriedly and haphazardly invested on stocks of a particular company without first assessing its real situation. The result is the vital drop not only of a single firm but also of the entire national economy. This is the predicament that the South Sea Company in England in the 18th century experienced. Considered as one of the worst financial disasters in a capitalistic society, the South Sea Bubble is a proof that avarice can lead a single person, firm or even an entire nation’s economy to collapse. In those days, the British Empire reigned over the entire world. It was a time of affluence and prosperity for British people enabling them to invest. The exuberance of investors to gain more out of the company’s monopoly of the South Seas compelled the company issued more stocks that were also sold out by greedy investors. The lavish and generously enamored company office ostentatiously displayed the opulence and success of Britain on its industrial revolution. With the notion spread by speculators that this company â€Å"could never fail,† its share price skyrocketed tenfold from its original value, making its investors rich overnight. It was at this point that the reality set in, bursting the bubble of the company’s overpriced share prices. South Sea Company’s heyday ended when its management realised that they failed to manage and operate the company properly. They realized that the company was not generating profit at all. The funds came basically from selling stocks and not from actual commerce. News that the company was actually profitless instigated panic stocks selling. Useless stocks were sold frantically leading to a stock market crash. Many British people lost their fortune because of this. From 950 pounds per 100 pound par value it slid down to 290 pounds in less than 4 months. The invention of the personal computer

Human resource management Essay Example | Topics and Well Written Essays - 1750 words - 1

Human resource management - Essay Example Recruitment and selection Hiring and firing forms one of the basic and core functions of HR practitioners. It mainly deals with identifying potential applicants for present as well as future openings. They are also involved in assessment and evaluation so that efficient placement and selection decisions are made. Establishing procedures and policies for recruitment and hiring in another area dealt with the HR managers in an organization (Tyson, 1995). 2. Benefits and compensation The second core function handled by HR department is compensation and benefits management. Their job is providing a rational method for determination of right payment for right jobs. Since it is a critical component of the business, the function is entirely managed by HR managers. It is also related to employee development and incentive program. 3. Training and development Training and development is another vital function in an organization. The HR practitioners are involved in creating training and develop ment programs which are aimed at solving issues such as employee performance, skills enhancement, increasing expertise and overall personality etc (Chan and Scott-Ladd, 2004). HR managers have special expertise in program evaluation and unlike other managers; they are able to utilize employee feedback in a better manner. Training and development is an important function which assures that employees are capable of job performance at acceptable levels (Nasiripour and Kazemi, 2012). 4. Performance management Performance management is the ability to effectively manage the overall performance of employees in an organization. Implementation and establishment of a complete performance management program is an essential function. Designing the process, reviewing, maintaining and effective monitoring is a challenging task and requires expertise. Coaching managers about the use and implementation of performance management programs is also an essential function of the HR team (Hughes and Rog, 2008). Literature The current business environment is dominated by globalization and internationalization. Organizations have become multinational and cross-cultural teams are common in firms. The current challenge of HR practitioners is to create new strategies and meet the ever increasing expectations and challenges as a result of the continuous evolution. They are also expected to create and add value to the organization. In the following sections external and internal factors and their effect on the overall HR functions will be discussed. Influence of external factors on HR functions Political In political terms, the external factors which can influence the work of HR practitioners as well as HRM functions are trade unions. Trade unions are officially recognized employee associations, joined together as a collective and united front voice in order to deal with management issues. The objective behind these trade unions is to secure the economic and social interest and well-being of the members of the organizations. Since trade unions become an additional party in relationship between employees and the company, they are considered as external influencing factors (Jackson and Schuler, 1995).Various laws are associated with union laws. Trade unions affect the HR laws and functions in various ways. Management has less flexibility and discretion while administering and implementing HR procedures, policies and practices while communicating with unionized

GIS analysis of access to greenspace Literature review

GIS analysis of access to greenspace - Literature review Example Cultural and historic resources also form part of green space in some cultures. Green space plays a vital role in the nation’s landscape encompassing among others, development patterns, economy, culture and the well-being of the populace (Van Herzele 2003, p. 111). In addition, green space is crucial as it absorbs and expels pollutants from the environment, by acting as an urban heat sink thereby protecting urban biodiversity. As agricultural pressures on land increase through greater demands for land, green spaces are slowly becoming depleted (Forman 2005, p. 38). However, as development becomes a key priority, more land that was previously set aside for agricultural purposes is being developed into residential or institution areas (Van 2007, p. 18). This has led to scarcity of green space, and access to the available few is hampered by the prospect of development. Access to green space is of paramount importance because of the unique contribution of green spaces to the quali ty of life. For instance, green spaces allow for relaxation, way from the daily stresses of urban life such as hectic work schedules and traffic. Moreover, green spaces offer immense recreational opportunities like individual exercise and organised sports. Spending time in urban green spaces offers reprieve to urban dwellers. However, because of increasing urbanisation and access to green space and spatial planning policies with regard to densification, more urban dwellers face the prospect of living in areas with few or no green space resources. Governments and individual municipalities set up clear guidelines for access to green space (Smith, Poulos and Kim 2002, p. 123). The Green Belt is a policy for managing urban growth in the UK. The policy guidelines provide concise guidelines on urban planning, which entail allocation of specific areas to urban green spaces. The Town and County Planning Act established in 1947 allows local authorities in UK mucipalities to include guideline s of the green belt in their development plans. The two acts are appreciative of the need to protect land areas designated as urban green spaces. GIS provides an environment for analysing accessibility to green space and for modelling the impacts of potential changes to green space provision and their subsequent impacts (Liu and Zhu 2004, p. 119). GIS analysis can be used to assess the accessibility of urban green spaces by selecting and quantifying factors that affect green space and constructing functions to determine the accessibility indicator (Ai) (Comber 2009, p. 109). A SPOT imagery of an urban environment provides sufficient data used to determine green space accessibility dwellers. The earlier mentioned state and county guidelines allow for division of land portions into regular grids of at least 500 meters to determine the capacity and chance of area inhabitants accessing green spaces within the area. For each green space viewed in the SPOT imagery, the resistance factors for each grid of land accessing the green space are calculated. Resistance factors refer to aspects that affect or limit access to green space. These factors include attraction to green space, population distribution, traffic patterns and pattern of land use in the area (Ritsema and De 2003, p. 84). The entire urban green space