Rbs Abn Merger

The Acquisition of ABM AMNRO by RBS Introduction Mergers & Acquisition have become very popular throughout the world in the recent times. This has become popular due to globalization, liberalization, technological developments & intensely competitive business environment. Mergers and acquisition are a big part of corporate finance world. This process is extensively used for restructuring the business organization. In India, the concept of mergers and acquisition was initiated by the government bodies. The Indian economic reform since 1991 has opened up a whole lot of challenges both in the domestic and international spheres. The increased competition in the global market has prompted the Indian companies to go for mergers and acquisitions as an important strategic choice. The trends of mergers and acquisitions in India have changed over the years. The immediate effects of the mergers and acquisitions have also been diverse across the various sectors of the Indian economy. Acquisition Acquisition in general sense is acquiring the ownership in the property. In the context of business combinations, an acquisition is the purchase by one company of a controlling interest in the share capital of another existing company. An acquisition may be affected by (a) agreement with the persons holding majority interest in the company management like members of the board or major shareholders commanding majority of voting power; (b) purchase of shares in open market; (c) to make takeover offer to the general body of shareholders; (d) purchase of new shares by private treaty; (e) acquisition of share capital or one company may be either all or any one of the following form of considerations viz. eans of cash, issuance of loan capital, or insurance of share capital. History On October 10,2007 Royal Bank of Scotland led consortium with RBs, Fortis of Belgium and banco Santander central Hispano SA of Spain created history by acquiring Dutch banking gaintABN AMBRO for US$ 100 billion. The consortium paid US$ 51. 55 per share of ABM AMBRO, about 13% more a s compared to the rival Barclays offer. This was one of the largest acquisition in the history of global banking industry . The consortium agreed to pay 93% of amount through cash and remaining 7% through RBS shares. Due to the 2008 financial crisis, the Dutch government nationalised the divisions owned by Fortis, while the UK government is now in effective control over the divisions allocated to RBS due to its financial bail-out of the Scottish bank. The process of integrating some of ABN AMRO's divisions into the new owners, and divesting others, continues. Since 6 February 2010 the bank has been split into one organisation owned by the Dutch government called ABN AMRO Bank N. V. and another owned by The Royal Bank of Scotland Group renamed The Royal Bank of Scotland N. V. On this date the Dutch owned businesses legally demerged from those owned by RBS. The Dutch government own the ABN AMRO brand for use with the parts of the bank they purchased while other companies within the Group will be renamed or closed down. Objective To study the acquisition of ABN AMBRO by RBS form various perspectives. We will try to answer the following questions:- What would a SWOT analysis reveal? What were the various synergies? Was the acquisition strategy sound? Events after acquisition? Various parameters of the deal. Effect of recession on the deal. Major challenges faced by the firm. On 19 January, 2009 RBS issued a statement in which it admitted that acquiring ABN AMBRO was a mistake. It also issued in the statement that ? 10 billion that it had spent on ABN ABMRO was worth nothing by then. Also RBS incurred a loss of ? 24. 1 billion on a total income of ? 26. 9 billion. So in this report we will try to study and analyse the after-effects of acquisition. Various other similar factors are attempted to be studies. Data & Research Methodology Data will be mainly sourced from secondary sources. However the management of certain firms under view will be interviewed through structured questionnaires. The data will be analysed using financial tools to access the effectiveness of the deal. An attempt will be made to evaluate the efficiency of the merged firm with the help of selected financial ratios. Analysis and expected results Through the medium of this report an attempt will be made to analyse the financial benefits of the acquisition. In addition to strategic benefits, the acquisition would deliver significant financial benefits to the shareholders. Through major cost savings and improved profitability of business lines, substantial earnings improvements for shareholders will be realised. The expectations from the deal were to strengthen all three consortium banks in their respective markets and open up new segment to accelerate their growth. The analysis includes:- Impact of mergers & acquisition on employees and working conditions Looking at the financing of the acquisition and studying the possible financing options. Major challenges of the merger and the opportunities. RBS’s current expansion plans Sensitivity analysis Synergy analysis Accounting and financing structure Risk assessment and cost of capital Leveraged buy-out Estimating merger gains and cost Of course, it is easy to criticize another firm’s management but not so easy to improve it. Some of the self-appointed scourges of poor management turn out to be less competent than those they replace. Here is how Warren Buffet, the chairman of Berkshire Hathaway summarizes the matter Many managers were apparently over-exposed in impressionable childhood years to the story in which the imprisoned, handsome prince is released from the toad’s body by a kiss from the beautiful princess. Consequently, they are certain that the managerial kiss will do wonders for the profitability of the target company. Such optimism is essential.

The Love in Quartier Enfants Rouges

Christina Bennett ENGL 101-043 Professor Rezendes November 7, 2012 The Love in â€Å"Quartier Enfants Rouges† As many people may know, love is a very complicated thing to understand. The film, Paris, Je T’Aime tries to show the audience many different perspectives of love in a series of short films. One of the short films in this collection is called â€Å"Quartier des Enfants Rouges†. In this short film, love is presented in a very different type of way because neither actor says they are â€Å"in love† with one another, they just express it without the other one knowing.The clip â€Å"Quartier des Enfants Rouges†, directed by Olivier Assayas, presents a story line where love seems to not be the main focus in the clip, but drugs are. Actor Lionel Dray who plays â€Å"Ken†, portrays a character as a drug dealer in Paris who goes to a house party to look for one of his regular customers, Liz (Joana Preiss). Joana Preiss takes the role of a cha racter who is in the town of Paris for an acting role in a movie. When Ken stops by the house to give her the drugs, they go to an ATM because she had no cash. As she was at the ATM, Ken was behind her and trying to touch her, showing the viewers that he cares about her.After she got the cash, they went to the bar for a couple beers and she gave him her number, and told him he could stop by the casting set where she was filming the movie. As they were leaving the bar, he handed her the drugs and she gave him the money. When she was at her trailer later that night waiting to film for the movie, she called Ken and told him to come to her trailer and bring her drugs for her friend, when they were really for her. When her trailer door knocked, it was not Ken; it was one of his friends, Jeff (Nicholas Maury) and Ken had sent him out to give her the drugs.Liz seemed really upset because she wanted Ken to come and not Jeff. After reviewing this film, it is easy to realize that Liz and Ken have a very strange relationship. In the beginning of the clip, they start off as barely knowing each other, and only knowing each other because of drugs, to falling in love and not telling one another. Olivier Assayas is trying to inform the audience by showing that communication is a huge factor when it comes to love. Without communication, a relationship goes nowhere, no matter how much love is involved.The actors present this well, because both Liz and Ken had feelings for each other, yet they both did not know so they were both left confused, and got nothing more out of the relationship. If Ken or Liz just could have said something, their relationship would go even further, and it is always good to know if someone has feelings or not. That is why communication is key in having a supporting and loving relationship. As a viewer of this film, the expectations someone may have are manipulated very quickly. Assayas makes his viewers think that the whole short film is about drugs and drug dealing, when the real story behind the drugs is love.This is a very good way to get an audience hooked into watching the film, because it draws attention to the audience, and makes them think what the real point behind this film is. As I was watching the film, I got drawn it very quickly because of the whole drug theme, since it was different from all the other films in this movie. When I watched it the first time, I did not fully understand what the short film was about, because the theme of love was so subtle, I could barely recognize why it was even apart of this movie.Since the ending left me with confusion, it just made me want to watch it again even more. Assayas does a wonderful job in getting his viewer’s attention because the plot and theme were different, and was unlike all the other love films that were easy to understand. This in my opinion, was overall the most well-thought out film, and had the best theme of love that was depicted. The film Paris Je Tâ₠¬â„¢Aime, shows the audience what love is all about. â€Å"Quartier des Enfants Rouges† shows that drugs are not the most important thing in keeping a relationship going, but communication is.Communication is a skill that everyone needs and it makes relationships grow, and even make them stronger. Without communication, it will ultimately leave someone confused and hopeless, as shown by Liz’s reaction at the end of this short film. It is always safe to keep in mind that love is not easy to find, but when it does happen, express it. Works Cited Assayas, Olivier, dir. â€Å"Quartier des Enfants Rouges† Paris Je T’Aime, 2006. Perf. Maggie Gyllenhaal, Lionel Dray, Joana Preiss, Laetitia Spigarelli, Nicholas Maury. First Look, 2007. DVD.

Google Company Essay

Thesis Statement: It is true that google company is the greatest place to work. What the company proud ,therefore, is that the great contributions Googlers make to the communities in which they live and work. Topic Sentence: Google Company provides its employees all kinds of perks to make them more productive and cooperative.   Supporting Details(1): There are lots of benefits for employees in google company. Question Details How is employees’ life in the Google company? Workplace at Google has a labyrinth of play areas; cafes, coffee bars and open kitchens; sunny outdoor terraces with chaises; gourmet cafeterias that serve free breakfast, lunch and dinner; Broadway-theme conference rooms with velvet drapes; and conversation areas designed to look like vintage subway cars. (2013) Google offers child care service in its Mountain View campus and also back-up child care to help California parents when their regularly scheduled child care falls through (About.com 2009). Google provides 100% health care coverage for its employees and their family. In addition onsite physicians and dentists are available at Mountain View and Seattle campuses (Google.com 2009). Google is very unique in its policy that allows employees to bring their pets to work on condition that pets are reasonably well behaved and house trained. However, the pet will have to be taken home upon the first complaint (Cosser 2008). Summary At google,there is not only cafeterias providing free three meals but cafes,coffee bars and open kitchens.What unique feature is google’s conference rooms and conversation areas which are with the subject of Broadway and are shaped as vintage of car(2013).To ensure employees and their family’s health,google has complete medical insurance.Besides,physicians and dentists work at Mountain View and Seattle campuses just in case of the people’ needs(Google.com 2009). Also,company offers service of children care and buck-up child care to help parents while they are working(Google.com 2009). Furthermore,google allows its employees to bring pets to workplace(Cosser 2008). Source(1): Website Author:James B. Stewart Publisher:James B. Stewart Reference:Stewart,JB 2013, ‘A Place to Play for Google Staff’,The New York Edition,p.B1,viewed 5 June 2014, retrieved from NYTimes Online,. Source(2):Online Author:Laura Schneider Reference:Schneider,L 2009, ‘Company Culture and History’,viewed 9 June 2014, retrieved from About.com: Tech careers,. ! Source(3):Online Author:Cosser,S Reference:Cosser,S 2008, ‘Google Sets the Standard for a Happy Work Environment’,viewed 10 June 2014,retrieved from Ezine Articles,. Supporting details(2):It is interesting that the Googlers do not working traditionally. Question Details How do the employees work in their office? Google lets many of its hundreds of software engineers, the core of its intellectual capital, design their own desks or work stations out of what resemble oversize Tinker Toys. Some have standing desks, a few even have attached treadmills so they can walk while working. Employees express themselves by scribbling on walls. The result looks a little chaotic, like some kind of high-tech refugee camp, but Google says that’s how the engineers like it(2013). In Googelplex People’s workspaces are full of individuality, and the atmosphere is relaxed. There is neither dress code nor formal daily meetings. Googlers can play beach volleyball, foosball, videogames, pool tables, table tennis, or even roller hockey on the campus, which makes this young population feel like they are still at a college campus rather than being in an office( Lashinsky, 2007a ). Summary Many software engineers who are core of intellectual capital are allowed to design their desk and even can have treadmills. Employees are able to scribbling on the walls to express themselves(2013). What is more, people in Googelplex do not have the need for dress code and daily meeting. Googlers have a lot of entertainment ways such as playing ball games, videogames, pool tables, table tennis, or even roller hockey on the campus(Lashinsky, 2007a ). Source(1):Online Author:James B. Stewart Publisher:James B. Stewart Reference:Stewart,JB 2013, ‘A Place to Play for Google Staff’ , The New York Edition,p.B1,viewed 5 June 2014, retrieved from NYTimes Online,.Source(2):Online Author:Adam Lashinsky Reference:Lashinsky,A 2009, ‘The perks of being a Googler’,viewed 8 June 2014,retrieved from Fortune,. Supporting Details(3):Google company provides its employees development opportunity and comfortable living place. Question What does google company offer for its employees? Details Allison Mooney, 32, joined Google two years ago from the advertising giant Omnicom Group, and the difference is â€Å"night and day,† she said. â€Å"I came here from the New York agency model, where you work constantly, 24/7. You answer every e-mail, nights and weekends. Here, you don’t have to show you’re working, or act like you’re working. The culture here is to shut down on weekends. People have a life.†she mentioned subsidized massages (with massage rooms on nearly every floor); free once-a-week eyebrow shaping; free yoga and Pilates classes; a course she took called â€Å"Unwind: the art and science of stress management†; a course in advanced negotiation taught by a Wharton professor; a health consultation and follow-up with a personal health counselor; an a uthor series and an appearance by the novelist Toni Morrison; and a live interview of Justin Bieber by Jimmy Fallon in the Google office(2013). Google Mountain View campus also includes services such as hair dressing,car wash, and oil change. The company also offers its employees personal development opportunities like foreign language classes (Google.com 2009). Summary Google’s employees have flexible working hours.There is no need to show they are working or pretend like they are working .At weekends,the culture in google is to shut down.Of course, google give its employees proper subsidy includes body cares and skill courses(2013).In addition google has a series of services,consisting of hair dressing,car wash,oil change. Employees can participate in foreign language courses to purchase development opportunities(Google.com 2009). Source(1):Online Author:James B. Stewart Publisher:James B. Stewart Reference:Stewart,JB 2013, ‘A Place to Play for Google Staff’ ,The New York Edition,p.B1,viewed 5 June 2014, retrieved from NYTimes Online,. ! Source(2):Online Reference:Google(2009), ‘The Best Place to Work. Retrieved 2009’,viewed 8 June 2014, retrieved from Google Diversity and Inclusion,. Thesis Statement: It is true that google company is the greatest place to work. What the company proud ,therefore, is that the great contributions Googlers make to the communities in which they live and work. Topic Sentence: Google Company provides its employees all kinds of perks to make them more productive and cooperative. At google,what unique feature is google’s conference rooms and conversation areas which are with the subject of Broadway and are shaped as vintage of car(2013).To ensure employees and their family’s health,google has complete medical insurance.Besides,physicians and dentists work at Mountain View and Seattle campuses just in case of the people’ needs(Google.com 2009). Also,company ! 7 offers service of children care and buck-up child care to help parents while they are working(Google.com 2009). Furthermore,google allows its employees to bring pets to workplace(Cosser 2008).Many software engineers who are core of intellectual capital are allowed to design their desk and even can have treadmills. Employees are able to scribbling on the walls to express themselves(2013). What is more, people in Googelplex do not have the need for dress code and daily meeting. Googlers have a lot of entertainment ways such as playing ball games, videogames,or even roller hockey on the campus(Lashinsky, 2007a ).Google’s employees have flexible working hours.There is no need to show they are working or pretend like they are working .At weekends,the culture in google is to shut down.Of course, google give its employees proper subsidy includes body cares and skill courses(2013).In addition google has a series of services,consisting of hair dressing,car wash,oil change. Employees can participate in foreign language courses to purchase development opportunities(Google.com 2009).

Consultant report on how university should fix its admissions system Article

Consultant report on how university should fix its admissions system - Article Example These changes are sook for with hope that they will bring massive improvements to the usability of the admissions webpage. There are several factors and the driving motive behind the undertaking of any activity. This report is however motivated by several concerns about the Trent University website. These are concerns that were raised by the users of this website who were forced to go through a hectic process of applying for a university of their choice through a parent university. This may be a little discouraging to the potential students. Therefore the major objective of this report is to bring to the attention of the authority the concerns raised by various users of the website, to seek address for the concerns raised by the students who apply for admission into variuos faculties within the institution through the university website. The consultant report is also aimed at seeking the address of possible exploring other avenues of altering the user interface so that it can supports of different classes of computer literacy. Another goal of this report is to ultimately help adjust the admissions model through which students seek entrance into the university. This report will cover various areas of concerns especially those that were reported by users and experts to be of great and legitimate concern. This report will therefore include their thoughts on experience with the admissions systems. It will cover the analysis of the system and the major changes that are thought to be great importance to the improvements of this university admissions systems. The report will also incorporate the recommended adjustments to be made to the website as raised by the users. this report will also cover the duration within which the implemention is to be undertaken. The implemetation of this report should be undertaken during the closure period of the university to avoid interruption of the normal

Designing babies Essay Example | Topics and Well Written Essays - 500 words

Designing babies - Essay Example The Greeks had similar ways to cleanse their society. The Spartans used to have their babies inspected by a council of elders and the potential unhealthy ones were left to die outside. This concept of artificial cleansing is referred to as eugenics, a practice seen in the twentieth century under Hitler’s Nazi Germany. The atrocities committed during that time put a dampener on this practice. Advancement in the field of genetics has resulted in a new interest with regard to health and eugenics. Pre-implantation Genetic Diagnosis is a technique by which one or two cells are removed from a blast cyst generated by in vitro fertilization so that the embryos can be tested for single gene disorders or chromosomal abnormalities. The benefit from this is parents trying to have children have an opportunity to eliminate some possible diseases and abnormalities they may carry a gene for. The development of a technique called pre-implantation genetic diagnosis (PGD) gave further fillip to this concept. The basic idea was that an embryo could be tested to find a perfect donor for treatments like organ and bone marrow transplantation. But artificial intervention has raised a lot of moral and ethical dilemmas. It can be justified if this is done in a life and death situation where a transplant can save a life (without the donor being seriously deprived in turn). But this technique has now degenerated into other disturbing areas. According to the celebrated author Debora L Spar, parents now utilize this procedure not for health reasons but by â€Å"those who want to select their child’s gender.† (Spar, 99). The Steinberg’s Fertility Centre in California even gets requests to help couples have babies with specific traits. Thankfully, technology has not developed to such an extent yet. The new eugenics have not yet resorted to killing of newborn babies, but is getting close by

Research paper on hamlet Proposal Example | Topics and Well Written Essays - 2750 words

Paper on hamlet - Research Proposal Example I am interested in the aspect of delay in action by Hamlet. Hamlet’s delay is interpreted with many reasons. After reading the play more than twice, I also found many interpretations for delay in action by Hamlet. I have also read certain articles that I found to be helpful for my research work. I do not want to include psychological reading of the play related to Oedipus complex as it is a full-fledged topic in its own. I have read the articles that I will also attach with the research and after reading them, I read the whole play again which was really helpful in obtainment of ideas related to the research proposal. Hamlet’s procrastination and delay can be seen as a result of his moral scruples and conscience; his delay can also be a result of his moral repulsiveness; his delay is also an outcome of his deepened melancholy and lastly, his delay can be a result of his over examination and speculation of the whole situation. When Hamlet gets the news of his father’s murder by his father’s ghost, he ponders over the situation and tries to judge the accuracy of the ghost’s revelation and even after having knowing that the ghost’s revelation is true, he is indecisive and irresolute. He delays his action and there are no chances of his revenging if the luck has not pressurized him to move forward and to kill his father’s murderer. Hamlet kills his father’s murderer but he kills him as he has no other option. Claudius tries to murder Hamlet twice and his second attempt is fruitful. Hamlet gets killed but he is successful to take his revenge. Hamlet is depressed and worried after his father’s sudden death and his mother’s marriage is an additional source of depression for Hamlet. In this depressed and melancholic state, he gets the news of his father’s being murdered by Claudius, his mother’s second husband. His melancholy is deepened. He is unable to

Should our courts, as Jane Stapleton has suggested, wipe out recovery Essay

Should our courts, as Jane Stapleton has suggested, wipe out recovery for pure nervous shock on the basis that no reasonable bou - Essay Example It goes without saying that existed times in the history of the English society in general and the world community in particular when ‘harm’ as it goes in the law was considered to be a gross and visible injury caused to a person or persons1. As the science of psychology and psychiatry evolved and gained formal recognition, it dawned upon the society and the associated disciplines and institutions like law that the notion of a ‘psychiatric injury or harm’, sometimes unaccompanied by blood or gore was a valid, acceptable and plausible possibility. So, the institution of law attempted to commensurately extend the available remedies and recoveries, albeit to accommodate within its ambit the notions of psychiatric injury or harm. The concept of ‘nervous shock’ within the English law is a direct outcome of such humane and propitious developments.2 The problem is that the ‘nervous shock’ inflicted on a person is often not quantifiable lik e physical injuries, not to mention the many other pragmatic problems associated with this legal concept. In the light of this problem, there exists a school of intelligentsia represented by luminaries like Jane Stapleton who advocate the abolition of the legal remedies associated with such harm.3 Yet, it will be utterly sensitive and reasonable to hold that considering the problems and confusions associated with a form of injury or harm, necessitates and calls for a further evolution of the English law, rather than vying for the already scarce remedies available for it. Nervous Shock As per the English Law, ‘nervous shock’ stands to be a psychiatric illness caused to a person, usually intentionally. This legal provision also includes the psychiatric illnesses caused to a person owing to the negligent behaviour of somebody. It goes without saying that the term ‘nervous shock’ is somewhat misleading in the context of the issue it intends to cover. Yet, the E nglish Law has chosen to continue with the usage of this term to refer to the complex notion or concept it alludes to. As per the English Law, a person can claim damages, owing to the nervous shock caused to one by the intentional or negligent behaviour of a person or a party. However, recovery due to nervous shock is to some extent restrained if not impossible in the English Law. This development is influenced by the fact that mostly no reasonable boundaries for the course of action can be traced in such cases. ‘Nervous shock’ is this context is an issue that the English Law is still trying to grapple with so as to somewhat concretize and positively solidify the remedies and provisions associated with this form of wrong or injury.4 Problems Associated with the Concept of Nervous Shock In the realm of law, which depends to a great extent on logic, rationality and the analysis of reasonable and verifiable facts, the concept of ‘nervous shock’ almost seems to be an aberration and anomaly. In that context, the possibility of a mental injury or shock appears to have a predilection towards the realm of philosophy or metaphysics. Mind, no doubt, since times immemorial has been considered to be a metaphysical term, which is known and understood by many but which evades all attempts at generalization or the possibility of arriving at a common agreement as to holding some universal definition.5 Mind is an attribute that has to do

Godfather I by Francis Ford Coppola Essay Example | Topics and Well Written Essays - 1250 words

Godfather I by Francis Ford Coppola - Essay Example In the opening scene where a person is asking for justice, not from the law but from a compatriot, sets the tenor of the film. ‘Why did you go to the police? Why didn’t you come to me first?’(Vito Corleone) subtly illustrates the disillusions of an immigrant about the law and justice of the country and how he is forced to adopt other ‘means’ to get the same. Godfather is a film which revolves around an Italian-American family which operates a crime syndicate in New York in mid-forties. Vito Corleone, the patriarchal head of one of the five ’family’ involved in the crime syndicate, is the protagonist of the film. He often works beyond the realm of law because he has powerful contacts in the political arena and the judiciary. Despite exerting awesome influence and muscle power, he has a very strong sense of justice and commands great respect from people who do not hesitate to ask for his help when the law fails to do so! He becomes their ‘protector’ when the need arises so he is better known as ‘the godfather’. The only return for his good deed is their loyalty which he gets. His portrayal of a deeply religious family man reinforces people’s trust in him. His firm belief that family can alleviate a lot of pain and anguish is amply illustrated when he admonishes his godson Johnny Fontane, a sin ger, in his study as he says ‘..cause a man who doesn’t spend time with his family can never be a real man’. Indeed â€Å".The Godfather puts forward a positive picture of a family†¦Ã¢â‚¬  (Glenn Man in genre and ideology) The introduction of the youngest son Michael during the wedding reception heralds amalgamation of American values and Italian culture. The educated younger son, who has just returned from the war, comes with his girlfriend. His statement that ‘my father made him an offer he couldn’t refuse’ went on to become one the most famous one-liner in the history of Hollywood films.

The defence of self-defence Essay Example | Topics and Well Written Essays - 1250 words

The defence of self-defence - Essay Example An individual is allowed in the eyes of the statutory defence to make use of reasonable force in an attempt to avoid committing a crime in such situations in which the individual cannot use the common law to avail himself. It is for the jury to decide as ordinary members of the community what exactly can be qualified as reasonable force in a certain case considering its individualistic facts. Ross is physically a very strong man, and he needed to protect himself not only against the first attempt of Samantha to injure or kill him but also her subsequent attempts. He needed to use at least as much force that would help him achieve that. His use of force did not instantly cause the death of Samantha. Therefore, Ross is innocent in the case of Samantha’s death. The defence of self-defence In the case under consideration, although Ross may be blamed for killing David, yet the blame that has been placed on him for killing Samantha is not right because what he did was an attempt to defend himself from the harm that Samantha was just about to cause him with her golf club. Self-defence makes a very important part of the English law’s doctrine of private defence. Ross should not be found guilty of the murder of Samantha and the defence of self-defence should have been put to the jury. ... English law has self-defence as a complete defence of justification in any case that includes any kind of assault. This makes self-defence unlike the loss of control that applies just for the mitigation of what would be classified as murder to manslaughter otherwise. Unlike loss of control, self-defence is a complete defence. Because of this completeness, the interpretation of self-defence is done in a comparatively conservative manner in order to avoid the development of a justification standard that is too generous. Increasingly forgiving defences provide the cynical defendants with greater incentives of the defence’s exploitation in their planning of the use of violence as well as when they have to make an explanation of the matters following the incident. Jury in the cases involving self-defence are entitled to consider the defendant’s physical characteristics, though such evidence does not have much probative value in reaching the decision if excessive force was im plied. According to the principle of general common law, â€Å"A defendant is entitled to use reasonable force to protect himself, others for whom he is responsible and his property. It must be reasonable† (Beckford v R (1988) 1 AC 130 cited in Smart Self Defence, 2011). In the case under consideration, Ross is a heavy man who is more than six feet in height whereas Samantha is petite with a total height of only five feet and three inches. Ross’ above average physical structure and excessive strength in comparison to Samantha along with Samantha’s below average height may give Ross some advantage in the eyes of law since not only Ross was too powerful, but also Samantha was too petite in

Customer Relationship Marketing in Action within the Retail sector Coursework

Customer Relationship Marketing in Action within the Retail sector - Coursework Example Quality of customer service is central to service marketing, which is possible through CRM. Quality of customer service can be enhanced when trust, commitment, communication, empathy and conflict handling are given importance in relationship building. These become important because relationship quality has significant influence on customer loyalty (Prasad & Aryasri, 2008). CRM is also about acquiring the right customer and not all customers. This is justified because 80 percent of sales are derived from 30 percent of the customers (Hawkes, 2003). Apart from identifying high value customers, CRM is also about managing the entire lifestyle of customers (Lambe, 2001). Retailers have to look beyond the transactions of the customer. It is equally important to derive information on how the customer became the customer as well as the interactions surrounding customer’s departure. These would help the retailers to better retain customers. Knowing of their life style implies that CRM s hould be able to anticipate and predict the future needs of the customers Suitability and effectiveness of CRM strategy of Tesco and Sainsbury Tesco’s Club card scheme generated information on pricing, customer services, merchandizing, promotions, media effectiveness, customer acquisitions and communications (Hassan & Parves, 2013). ... Their tesco.com is also aimed at keeping in touch with their customers. The Nectar card scheme of Sainsbury is aimed at attracting more customers by having increased number of partners (Hassan & Parves, 2013). Sainsbury customers redeem their loyalty points and the retailer experienced the highest number of Nectar card users during Christmas 2011. Such redemption enabled the retailer to understand the potential customer base. Sainsbury also has a strong presence on social networking sites such as Facebook and Twitter. Sainsbury gathers information on customer experience which is lacking at Tesco. Both Tesco and Sainsbury have loyalty cards aimed at retaining customers. Boedeker (1997) however, contends that loyalty cards are based on the assumption that special offers and bonus points would be the only reason that customers would not deflect. Economic aspects are only one of the benefits that consumers seek. A study by Turner and Wilson (2006) found that customers at Tesco may be sho pping more because of Tesco Club cards but they do not feel more valued because of these cards. This undermines the very purpose of CRM as no relationship has been built. The success of loyalty cards is not limited to enhanced sales or profits. Their card only promotes incentivized loyalty and no emotional loyalty has taken place as customers are not influenced by brands. Hassan and Parves also found that loyalty card holders at both Tesco and Sainsbury do not limit their shopping only within these two retailers. Possibly this could be because of weak value proposition and flawed design of the loyalty cards (Bayraktar, Yilmaz & Yamak, 2010). Also, the companies may not be able to analyze all of the data generated through

Strategic Financing for Discussion Essay Example for Free

Strategic Financing for Discussion Essay Preferred stock is defined as a type equity that has priority over common stock in terms of dividend payment and asset distribution in the event of liquidation. Basically it is a hybrid security that actually shares features with both debt and common stock. Further, it has the following features, convertibility to common stock, nonvoting right, and callability at the corporation’s option. However, its usage does not actually increase the probability of the firm’s bankruptcy. It pays dividend just like common stock out of the firm’s after-tax income (Brigham Houston, 2009). In case the preferred stock does not have a stated date of maturity, its cost is determined using the following formula (Brigham Ehrhardt, 2013). Cost of the Preferred Stock = the dividend on Preferred stock/ (Price of Preferred stock/1-Flotation Costs) Whereby the price of preferred stock is basically the current market value while the floatation costs are the preferred stock’s underwriting costs which are usually given as a percentage. Firms that use preferred stock should include its cost in their weighted average cost of capital (WACC) formula (Brigham Ehrhardt, 2013). Three publicly-traded companies that have preferred stock in their capital structure include: American Capital Agency Corp. (NASDAQ: AGNC) This is mortgage REIT that basically invests in agency securities that their interest and principal payments are usually guaranteed by US Government-sponsored entity (Federal National Mortgage Association) and the US Government agency (Government National Mortgage Association) Wells Fargo and Company             This is an American multinational company that deals in banking and financial servicers hence providing mortgage, banking, credit card, insurance, investing, and commercial and consumer financial services. Bank of America Corporation             This is an American multinational corporation that deals in banking and financial services and is has its headquarter in Charlotte, North Carolina. References Brigham, E. F., Houston, J. F. (2009). Fundamentals of financial management. Mason, OH: South-Western Cengage Learning. Brigham, E. F., Ehrhardt, M. C. (2013). Financial management: Theory and practice. Mason, Ohio: South-Western. Source document

Relationship between humans and nature Essay Example for Free

Relationship between humans and nature Essay Marlowe in his poem ‘The passionate shepherd to his love’ talks of the strong link between humans and the nature that surrounds them. The poem from beginning to the end talks mainly of the nature that surrounds us wherever we go. The poem makes us understand that we are actually dependent on nature for all our needs. The nature in its splendor is so beautiful that Marlowe has actually united with the environment. The poem captures the joy of love, in the midst of nature. In fact reading the poem makes one wonder, if the natural splendor that surrounded Marlowe when he wrote the poem, was the reason for his love to flow like a river. Nature makes one forget about the present. In fact, it makes us forget all about ourselves and become one with nature as we enjoy and be part of the beauty that surrounds us in all its glory. Marlowe in this poem talks more of the nature that surrounds him and less about his love. The poem talks of the quiet simplicity of rural life and how humans are part of nature. There is no way of separating humans from nature. The humans are dependent on nature for their very existence. The nature is dependent on humans to be admired and glorified. The human dependence on nature is highlighted by the fact that Marlowe is sitting upon a rock. He wants to make a bed of roses; wool for a coat from the lambs, buckles for the slippers from gold, a belt of straw, the list goes on. Marlowe by writing this poem has made the readers understand the relationship between humans and nature. Annie Dillard in ‘Sojourner’ talks of the Earth in its entire splendor. She talks of the mangrove tree that floats and becomes like an island in a sense. She rediscovers the magic of nature and how it can be viewed in a beautiful sense. People ordinarily will not give a second thought to a tree floating. She magnifies the significance and projects a simple natural event into something extraordinary. In fact Annie Dillard brings to life the mangrove tree that is all but dead. A tree that has no life has been brought to life with her words. When Dillard talks about the mangrove tree, she actually means the Earth and its movements. She tells that Earth is a sojourner, creating its own path and moves in a path that cannot be followed by any other thing on Earth. She tells that Earth is a wet ball thrown into eternity and humans are part of this. We the humans and nature have united to become one. She ends with a question asking what will happen at the end of the journey. The mangrove tree will finally end up in the Ocean. So where do the Earth and the humans living on it finally end up, is a question left unanswered. Mangroves play a major role in the essay by Annie Dillard. She uses the tree to show the human nature. The mangrove starts from scratch and builds a strong foundation. The human nature and relationships are similar. We all start from scratch and build many strong relationships as we grow. Some who are not able to make any relationships are like the mangrove tree felled by the hurricane, being tossed and not knowing the final destination. Annie Dillard unites with nature and is part of it. She talks of the Earths movement in words that make a person imagine and feel the true aura of nature. She has merged the human nature and the nature to be examples of each other.

Effect of Financial Development on the Mauritius

Effect of Financial Development on the Mauritius Chapter One Introduction The introduction chapter of this dissertation provides the justification and purpose of the study, explains the research problem itself, defines the research objectives and highlights the scope of the study. Background to the research Policymakers and financial experts usually acknowledge that financial development- that is, a well-functioning financial system contributes to economic growth. A well-organised financial system can encourage economic growth through several channels by providing effective financial institutions and markets that help to overcome market resistance introduced by information asymmetries and transaction costs. Empirical studies on the link between financial development and economic growth have been analysed mostly by cross country cases until lately because of lack of enough time series data for developing countries. These researches have shown regularly that financial development is an important determinant of economic growth. However, even though the conclusion of these studies provides an appropriate guideline for the finance-growth nexus, it cannot be applied to all economies, as each specific country is regulated by its own financial institutions and policies. In this dissertation we are going to analyse the finance-growth relationship for one country only, Mauritius). The island of Mauritius is a fascinating country to study, because Mauritius over the past four decades have evolved from a mono-crop economy, depending on the production of sugar-cane to a mixed economy, pushed by export-oriented manufacturing, tourism and hospitality and the more recent developing sectors financial services and Information Communication and Technology. Mauritius is considered an upper middle income group in the Sub-Saharan Africa (developing only). It has been upgrading its position in international indexes for the rule of law (first in the Sub-Sahara Africa on rule of law index), investment (14th worldwide on the ease of starting a business and the strength of investor protection) and ease of doing business (ranking 19th of 183 countries on the 2012 Doing Business Index). Since the late 1980s, the financial sector has been transformed to become the fourth pillar of the Mauritian economy, with the set up of the Stock Exchange in 1989 and the Financial Services Commission in 2001. Mauritius has created various bodies to regulate the financial sector in its various aspects and substantial efforts have been made to revamp the legislative framework in the non-banking financial services sector by introducing amendments and new pieces of legislation. On a macroeconomic level Mauritius has also been doing well in the light of the world crisis in recent years. The government of Mauritius has attempted to mitigate the negative consequences of the global economic crisis through an appropriate policy mix. Thus, as the financial sector has a very important role to play in the development of the economy, this means that we have a good database for sufficient number of years to tackle this study. Purpose of the study Researches in the finance-growth nexus have been mainly on whether financial development has a positive effect on economic growth in Mauritius. In this context, we have tried to go deeper in this study by empirically analysing the co integration and causal link between financial development and economic growth in Mauritius and determining the effect of financial development and economic growth on each other by applying impulse response functions and variance decomposition techniques. The study analyses the effect of financial development on economic growth in Mauritius and covers the period 1981 to 2012. The period coincides with the rapid growth of the financial services sector in Mauritius in the 1980s, and is sufficiently long and allows comparison with other studies. Aims, Objectives, Research Questions and hypotheses Research objectives The main aim of this study is to determine the effect of financial development on economic growth for Mauritius. The following specific objectives will be answered: To investigate whether the increase in domestic credit to the private sector to Gross Domestic Product (GDP) has led to improvement in GDP per capita. To investigate whether the increase in GDP per capital has led to the increase in domestic credit to the private sector to GDP. The long run and short run relationship between economic growth and financial development. The response of domestic credit to the private sector to GDP to shocks from the different variables used in the study The response of GDP to shocks from the different variables used in the study. Research questions Throughout this study we will try to find solutions to the following questions: Does financial development lead to economic growth in Mauritius or does economic growth lead to financial development? Is there a bi-directional causality between financial development and economic growth in the short-run and long-run? Research hypotheses Research Hypotheses considered in the study: H0: The financial development and economic growth indicators are not stationary H1: The financial development and economic growth indicators are stationary H0: There is no co integration equation among the variables used in the study H1: There is co integration equation among the variables used in the study H0: There is short run causality running from independent variables to dependent variables H1: There is no short run causality running from independent variables to dependent variables, which means that there is long run causality. Scope of the study The study examines the relationship between financial development and economic growth in Mauritius and covers the period 1981 to 2012. The period starts almost in the same time that the economy of Mauritius was undergoing reforms in the financial sector with the creation of the Stock Exchange of Mauritius and later on the creation of the Financial Services Commission. Overall structure of the dissertation This dissertation has been organized into five chapters. The first chapter was an introduction to the proposed research. The second chapter will provide some relevant details on the financial development and economic growth in Mauritius. The third chapter will perform a review of theoretical concepts and empirical tests conducted worldwide concerning the financial development and economic growth with special attention to developing countries. The fourth chapter will describe the methodology to be used for the proposed study, the data gathering process together with analysis performed on same and the results will be interpreted graphically with discussions. The fifth and final chapter will draw conclusions from the study with some practical recommendations. REFERENCES Akinboade, O. A. (1998), ‘Financial Development and Economic Growth in Botswana: A Test for Causality’, Savings and Development, 22(3), 331-348. Allen, D.S and L. Ndikumana (2000), ‘Financial Intermediation and Economic Growth in Southern Africa’, Journal of African Economies, vol.9, no 2, pp. 132-160. Arestis, P. and Demetriades, P. O. (1997), ‘Financial development and economic growth: Assessing the evidence’, Economic Journal 107(442), 783–99. Blackburn K., and V.T.Y. Hung (1996), ‘A Theory of Growth, Financial Development and Trade’, Economica, vol. 65, pp. 107-124. Christopoulos, D.K. and Tsionas, E.G. (2004). ‘Financial development and economic growth: evidence from panel unit root and cointegration tests’, Journal of Development Economics,Vol. 73 No. 1, pp. 55-74. Choe, C. and I. A. Moosa (1999), ‘The Financial System and Economic Growth: The Korean Experience’, World Development, vol. 27, no.6, pp. 1069-1082. De Gregorio, J. and Guidotti, P. (1995), ‘Financial Development and Economic Growth’, World Development, 23, 434-48 Demetriades, P. and Hussein K. A. (1996), ‘Does Financial Development Cause Economic Growth’, Journal of Development Economies, vol. 51, pp. 387-411. Demetriades, P.O., Andrianova, (2004), ‘Finance and Growth: What We Know and What We Need to Know. In: Financial Development and Growth: Explaining the Links’. C. A. E. Goodhart (Eds). Palgrave Macmillan: Basingstoke, pp. 38-65. Goldsmith, R. (1969), Financial Structure and Development, Yale University Press, New Haven, CT. Greenwood, J. and Jovanovic B. (1990), ‘Financial Development, Growth and the Distribution of Income’, Journal of Political Economy, vol.34, pp. 1076-1107. Johannes, T. and Cletus, A. (2011). ‘ Financial Development and Ecxonomic Growth in Cameroon, 1970-2005’, Journal of Economics and International Finance Vol.3(6), pp.367-375, June 2011. Jordan, S. and Qi J.(2006),’Does Financial Development ‘Lead’ Economic Growth? The Case of China’, Annals of Economics and Finance 1,197-216. Jung, W. S. (1986), ‘Financial Development and Economic Growth: International Evidence’, Economic Development and Cultural Change, vol. 34, pp. 333-346. King, R. and Levine, R. (1993b), ‘Finance and growth: Schumpeter might be right’, Quarterly Journal of Economics, Vol. 108 No. 3, pp. 717-37. Levine, R., 1997, ‘Financial Development and Economic Growth: Views and Agenda’, Journal of Economic Literature, 32(2). Levine, R., Loayza, N. and Beck, T. (2000a), ‘Financial intermediation and growth: causality and causes’, Journal of Monetary Economics, Vol. 46, pp. 31-77. Levine, R., Loayza, N. and Beck, T. (2000b), ‘Finance and the sources of growth’, Journal of Financial Economics, Vol. 58, pp. 261-300. Lucas, R.E. (1988), ‘On the Mechanics of Economic Development’, Journal of Monetary Mankiw N.G, D. Romer, D.H. Weil (1992), ‘A Contribution to the Empirics of Economic Growth’, The Quarterly Journal of Economics, vol. 107. McKinnon, R.I. (1973), Money and Capital in Economic Development, Washington DC: The Brookings Institution. McKinnon, R. (1991), The Order of Economic Liberalization: Financial Control in the Transition to a Market Economy, Baltimore: Johns Hopkins University Press.Economics, vol. 22, pp. 3-42. Meier, G. M. (1991), ‘Leading Issues in Economic Development’, 4th edition, Oxford: Oxford University Press. Nowbutsing, B., Ramsohok, S. and Ramsohok, K. (2010),’A Multivariate Analysis of Financial Development and Growth in Mauritius: New Evidence’, Global Journal of Human Social Science, Vol.10 issue 1 (Ver 1.0) Pack, H. (1994), ‘Endogenous Growth Theory: Intellectual Appeal and Empirical Shortcomings’, Journal of Economic Perspectives, vol.8, no1 Patrick, H. (1966), ‘Financial Development and Economic Growth’, Economic Development and Cultural Change, vol.XIV, pp.451-65. Romer, P.M. (1986), ‘Increasing Returns and Long-run Growth’, Journal of Political Economy, vol. 94, pp.1002-1037. Romer, D. (1996), Advanced Macroeconomics, Berkeley: University of California. Rousseau, P.L. and P. Wachtel (1998), ‘Financial Intermediation and Economic Performance: Historical Evidence from Unobservable Components Models’, Journal of Monetary Economics, vol. 42, pp.387-425. Seetanah, B. (2007), ‘Financial development and economic growth: a VECM approach’, The Icfai Journal of Bank Management, Vol. 6 No. 4, pp. 7-16. Seetanah, B., Ramessur, T. S. and Rojid, S. (2008), ‘Financial development and economic growth: New evidence from sample of island economies’, Journal of Economic Studies, Vol.36 No2,2009, pp124-134. Seetanah, B. (2010), ‘Stock Market Development and Economic Growth in Developing countries: Evidence from Panel VAR framework’. Schumpeter, J. A. (1934), ‘The Theory of Economic Development’, Cambridge: Harvard University Press. First published in Germany, 1912. Shaw, E. S. (1973), Financial Deepening in Economic Development, New York: Oxford University Press. Solow, R.M. (1956), ‘A Contribution to the Theory of Economic Growth’, Quarterly Journal of Economics, vol. 70, no. 1. Swan, T.W. (1956), ‘Economic Growth and Capital Accumulation’, Economic Record, vol.32, no. 2. Wachtel, P. (2001), ‘Growth and Finance –What do We Know and How do We Know it?’ In International Finance. World Bank (2012). ‘Global Financial Development Report 2013: Rethinking the Role of the State in Finance.’ World Bank, Washington, DC (http://www.worldbank.org/financialdevelopment). Xu, Z. (2000), ‘Financial development, investment and growth’, Economic Inquiry, Vol. 38, pp. 331-44. WEBSITES Definition of Endogenous Growth Theory (2014).[Internet] Available from [Accessed 21 June 2014] Definition of Financial Intermediary (2014).[Internet] Available from [Accessed 22 June 2014] Definition of Solow-Swan Model (2014).[Internet] Available from [Accessed 1 July 2014] Fact sheet on Mauritius (2012). [Internet] Available from http://www.ninetyeastfinancial.com/articles/page.php?id=1022 [Accessed 1 July 2014] Mauritius Transformation Profile (2014). [Internet] Available from http://africantransformation.org/2014/02/07/mauritius/ [Accessed 21 September 2014] Mauritius: the Global Business Sector (2010). [Internet] Available from http://www.ifcreview.com/restricted.aspx?articleId=992areaId=32# [Accessed 21 September 2014]

I am Buddhist :: essays research papers

I am Buddhist An often forgotten essential in our short existence we call â€Å"life† is our need for at least a quintessential connection of spirituality for our own subsistence. And as this world we live in, develops into supposed â€Å"development’’ and as evolution directs our way of life into a tedious search of happiness derived from money†¦ and a person in a modern society barely has a moment for a prayer and â€Å"time’’ being as impatient as it is, the youth have no seconds to just sit and contemplate the power of a higher being, that a GOD might be the one that governs our destiny and fate†¦ and to have a flicker of an instant where one experiences a religious outlook on life†¦the air we breathe turns a little fresher and a load gets lifted off shoulders of stressed mentalities†¦ and call it a â€Å"pre-mature revelation’’ or a pious unveiling of my character but I have encountered such an emotion when I visited a ha ven called Bodh Gaya. Situated in the most corrupts of states in India, Bihar†¦it is an oasis of belief and hope and maybe the only answer and truth to some. It’s an uncanny placement for enlightenment, one might suggest†¦ but as a Buddhist, imagining all the struggle and suffering that the Buddha had overcome and all the adversities he had surpassed and of course the harsh truth he reveals to us and conveys with such meaning in his simple diction is at most overwhelming. At first sight the Mahabodhi temple standing tall among such meagre neighbours, humbled me at once†¦ petrifying in some ways and yet it seemed to comfort me all at once. As for the papal tree where Buddha had gained salvation is surrounded with such spirituality that it seemed to bog down upon my shoulders and yet at the same time it uplifted my spirits in the most unexplainable way. The hustling and bustling noises of Indians selling odd trinkets and beggars among the streets are drowned by the Tantric chants of monks praying in union. A pilgrimage that changed the way I thought about the youth†¦ and I was young too, therefore it basically changed the way I thought. As words are my limits†¦ so is word my only limits through which I cannot describe and do justice to the communion that one has to go there and experience for oneself. ‘’Nothing is as constant as change’’ and the journey through life does not end until death.

Kroisos vs Doryphoros :: Essays Papers

Kroisos vs Doryphoros The difference between an archaic statue such as Kroisos (fig. 5-11) and a classical statue such as Doryphoros (fig. 5-42) may not seem very great in a single glance. In fact, you may not notice any differences in that one glance. Yet, if you were to look at them closely, you can see that these two statues actually have very little in common. The first glance you’ve taken at those two statues, you just see a man standing there. They are not doing anything in particular, just standing there. That was only in the first glance of course. Now take a good look at each one. In the archaic Greek kouros figure, the pose of the figure is very frontal. The entire figure is relatively stiff with the exception of the left leg, which is in front of the body giving it the early contrapposto pose. Even though it does have a much more natural pose to it with the one leg out, the rest of the body is not in a pose as if the weight of the body was put into one leg. The head is stiff with the hair being geometric and with the hair falling back on the body. The physical stature of the body is moderately realistic. The muscles are not quite as well defined but they are still semi-realistic. They are portrayed as if they were tense. The arms are also at the side. In the other figure, Doryphoros, there seems to be much more expression. The contrapposto pose is very realistic. The weight is shifted all throughout the body. Arms are not stiff at the sides, but one is relaxed while the other is at a forty-five degree angle from the elbow. There is tension in the calf from the leg, which is being raised up. The torso is also somewhat at an angle because of the hips. The head is not frontal, but at an angle. The muscles are very defined but very relaxed. The hair is not naturally flowing, but not geometric. The emotion in the figures is also very different. In the archaic figure, the face contains emotion other than the archaic smile. The eyes are closed with no facial expression. The classical statue on the other hand does not have any facial expressions but has open eyes and no smile.

west side stadium :: essays research papers

West Side Stadium   Ã‚  Ã‚  Ã‚  Ã‚  There is a lot of controversy over the plans for a new West Side stadium. The mayor says the stadium is necessary to win the honor of being the Host City for the 2012 Olympics. The stadium will also be home of the Jets. His opinion is that the stadium would do nothing but good for the city despite criticism from people saying the money should be added to the education budget. I believe the stadium should be built.   Ã‚  Ã‚  Ã‚  Ã‚  One thing that the stadium would do that I feel is important is that if we were to get the Olympics it would give the world something besides 9/11 when they think of New York. That is very important to me because I am tired of every time I’m on a trip some one telling me there sorry when they find out I live in New York. The money the Olympics will bring into the city will also be pretty substantial. It could really help to boost the economy. There will be many wealthy people visiting the city, some for the very first time. Athletes but trainers, hardcore fans, camera crews and reporters from all over the world. Their personal spending alone will probably add up to at least a million dollars. The West Side stadium is a terrific idea for a lot of other reasons as well. The West Side stadium project will create hundreds of jobs bringing down the unemployment rate. Which is especially good in a city that has had an on going problem with its unemployment rate. The West Side Stadium will also put an end to the monopoly that cablevision has over sports entertainment in this city. The same company that funds the ads bad mouthing the mayor and the plans for a West Side Stadium.

Modern Technology vs Books

One of the most important marvels of modern technology is the Internet, which has not just revolutionized the process of information retrieval, but also, dramatically changed the way people seek information. If in the past, people often had to spend so much time and energy going through many pages or sheets of printed media only to seek for specific information, now with the aid of the internet; information retrieval can be much easier and time-saving. The revolutionary way which the internet offers triggers an intriguing question whether it will replace books or printed media as the main source of information.From my observation, I tend to believe that it will. My main reason is because it has so many advantages over printed media, which make the former (the internet) more preferable, more interesting, more attractive, and even more reliable than the latter (printed media). As a result, more and more people turn to the internet every time they need to seek for information. Here are some of the advantages which I can list to support my belief. First, the kinds of information which the internet provides are almost unlimited.We can find almost any topics from a single computer equipped with a good connection to the internet, while it is impossible to find such a large number of topics only from a single book or a single newspaper. As a result, when people need almost any information, ranging from the latest news, house rentals, car sales, to public transport schedules and fares, they rely on the internet rather than printed media. Second, the information stored in the internet can be updated at very short intervals, enabling its users to always get the latest progress or development.This kind of updating can’t be applied to printed media and thus, printed media always lags behind the internet. Third, the internet also provides other facilities that printed media can’t provide. For example, it enables its users to perform multitasking or interactivit y, so that they can communicate with other people, play online games, download or upload pictures, and so on, while seeking for information. Fourth, the optimization of internet usage can reduce paper consumption significantly. Since the environmental awareness is on the rise, people are encouraged to reduce paper consumption.More paper consumption can lead to more deforestation because the raw materials for making paper basically come from forests. As a result, paperless office and â€Å"going paperless† are being intensively promoted, and here in this context, the internet has proved to be supportive. Looking at the rapidly widespread use of the internet and people’s increasing reliance on it, I believe that someday the internet will triumph over printed media. The first signs of it have shown. For example, the number of internet users is increasing so dramatically, while the sale of printed media is decreasing.

Shackleton Moral Challenge

Earnest Shackleton: Moral Challenge Earnest Shackleton, leader of the Imperial Trans-Antarctic Expedition showed great moral leadership in the choosing, leading and ultimate saving of his crew of 27 men. Shackleton led his men with strength and respect. He had a great ability to showcase the strength of individual men, while leading them as a team. In choosing his crew, he not only looked at the work that they would do, but also how they would interact with the rest of the men. In the most trying of circumstances. Once it became apparent that the original goal of the mission was lost, Shackleton kept his crew working together towards the common goal of survival. Shackleton shows great leadership using six fundamental leadership traits: â€Å"Planning, Team Building, Flexibility, Communication, Conflict Resolution, and Lead by Example. † (Harris 21) Even as a child, Shackleton was seen as both a strong leader and an empathetic friend. A classmate recalled that Shackleton had â€Å"beaten up a schoolyard bully who had been picking on a smaller boy. From an early age, Shackleton gravitated to the role of protector, stepping up to the front to insist on fair play. † (Morrell and Capparell, 17) Shackleton has a history of putting his men above the goal. In 1907, he was 97 miles from the South Pole when he turned back in order to return his party safely back to the ship. This ability to both lead and protect would prove to be invaluable in the Trans-Antarctic expedition. Shackleton plans his expedition carefully. He is aware of the environment and conditions, having been on expeditions in the Antarctic and to the South Pole in the past. He overstocks on provisions to keep his men fed and stimulated. There was food, books, music and the best equipment available at the time, including rations to prevent scurvy and specially designed tents. Shackleton only takes risks when necessary and when lives were at stake. â€Å"He often referred to himself as â€Å"Old Cautious† and took pleasure when his men called him the same. † (Morrell and Capparell, 34) â€Å"Shackleton built the crew list around a nucleus of tested veterans. † (Lansing, 16) These included men who had been with him in expeditions to the Antarctic with Scott (1901, 1910-1911) or the race to the pole (1908-1909). Other crew members were chosen with their personalities and ability to work together in mind. Shackleton hired a meteorologist with practically no qualifications for the position, simply because he thought that he â€Å"looked funny† and had recently returned from an expedition to the Sudan. One surgeon was hired in part because he joked about wearing glasses. Another was asked if he was good natured and if he could sing. â€Å"Despite the instantaneous nature of these decisions, Shackleton’s intuition of selecting compatible men rarely failed. (Lansing, 17) Shackleton shows an ability to change his tactics and goals during the course of the expedition. At the start, he is focused on the goal of a trans-Antarctic crossing. When it becomes apparent that the Endurance is locked in ice and the crossing will not happen, he focuses on the immediate need to survive the upcoming Antarctic winter. â€Å"He was careful, however, not to betray his disappointment to the men, and he cheerfully supervised the routine of readying the ship for the long winter’s night ahead. (Lansing, 34) Once it is determined that the ship is being crushed, the focus lies on moving to, and surviving on, the ice floe. As the ice is breaking up, Shackleton sets his sights on land. The unpredictable winds and currents are what finally determine the choice of Elephant Island. This is a rocky, uninhabited island, but it was land, and a place where the men could stay while he led a small crew of six in a single boat to South Georgia Island. Communication is an important facet of Shackleton’s leadership. He is available to his men, but still keeps enough of a distance to maintain authority and order. His men call him â€Å"boss†. This shows a sense of familiarity – they don’t feel that they need to call him Captain Shackleton, but also respect for his position and that they look to him as their leader. Shackleton shows a great skill in talking to his crew so that they work well together. When Vincent, a member of the crew tries to gain advancement through the use of tyranny, Shackleton listens to the complaints of the other crewmembers, speaks to Vincent privately and the behavior is corrected. It is not known what was said, but the attitude was improved. This shows an ability to both manage a potential bad situation, but also to do it privately so that Vincent is not reprimanded in front of his co-workers. Shackleton seeks the advice and opinions of the crew when determining a course of action, allowing them to have a say in the decision. However, when it comes time to make the decision, Shackleton takes full ownership and sees it through. Conflicts were bound to arise during the course of the expedition and Shackleton used a variety of means to avoid or end the conflicts in a timely manner. Knowing the personalities of his crew was an asset. Shackleton knew that Hurley had an ego that needed to be stroked and included him in many of the high level meetings to prove that he was important to the expedition. Certain crew members were more negative and prone to cause problems. â€Å"In their tents on the ice, Shackleton ensured that the ability of such â€Å"bad actors† to erode morale was checked by having them reside in Shackleton’s own tent or Wild’s tent. † (Chappell, 2) Shackleton leads by example. He does not take special privileges for himself and often works harder than his men. He is the first one up and the last one to sleep – often staying up to watch the ice and the currents so that his men can rest. Shackleton also leads the final crew in the more than 700 mile trip from Elephant Island to South Georgia Island. He shows a positive attitude at all times, which keeps his crew optimistic as they work together to survive. This is no small feat as he is responsible for 27 lives and has to give up the main goal of the expedition, which was to cross the Antarctic. Shackleton never gives up. Even after he reaches the whaling station on South Georgia Island, he does not wait for a ship to be delivered to rescue his men. As he has done the entire journey, he uses the resources available until he is able to meet his goal of bringing his entire crew back to safety and civilization. I believe that Shackleton shows moral leadership in that he is more concerned for his crew than he is for himself and his reputation as an explorer. Instead of following Scott’s example of meeting the original goal, he considers the consequences of losing his crew and chooses life over glory. Scott ruled by brute force an intimidation. He refused to look beyond his goals and while he did reach the South Pole, he also lost his life and the lives of his crew in the process. Shackleton showed a respect for others his entire life and this did not change when he became a leader of expeditions. He turned back from the South Pole in 1909 because he felt that reaching his goal would sacrifice his crew. During the Endurance expedition he sets the goal for survival and rescue and sees it through to the end. No lives were lost and his crew shows respect and obedience to â€Å"the boss† throughout. Endurance scholar Caroline Alexander says that the crew had a saying about Sir Earnest: â€Å"For scientific discovery give me Scott. For speed and efficiency give me Amundsen. But when you're in a hopeless case and disaster strikes, get down on your knees and pray for Shackleton. † Works Cited Lansing, Alfred. Endurance: Shackleton’s Incredible Voyage. New York: Carroll and Graf, 1959. Harris, Michael. â€Å"Leadership in a Time of Crisis: The Shackleton Way. † E Academic Affairs, 2003: 14-28. Jan 15, 2012. http://www. iuk. edu/chancellor/assets/pdf/leadership-in-a-time-of-crisis. pdf Morrell, Margo and Capparell, Stephanie. Shackleton's Way: Leadership Lessons from the Great Antarctic Explorer. New York: Viking Penguin, 2001. Chappell, Charles. â€Å"Shackleton’s Leadership of the Endurance Expedition. † Wharton Executive MBA Program, Class of 2001. Pages 1-5

How Did the Constitution Guard Against Tyranny

How Did the Constitution Guard Against Tyranny? What do you think tyranny means? When we think of tyranny, we consider its harsh absolute power in the hands of one individual, like King George Ill. In James Madison's argument for his support of the Constitution he wrote that â€Å"The accumulation of all power†¦ in the same hands, whether of one, a few, or many is the very definition of tyranny. † In 1787, the framers came together in Philadelphia to write the Constitution to help guard against tyranny.The Constitution guarded gainst tyranny in several ways which were federalism, separation of power, checks and balances, and big states versus small states. The first guard against tyranny was federalism which means the federal principle of government. In the Federalist Paper #51 James Madison wrote that â€Å"In the compound republic of America, the power surrendered by the people is first divided between two distinct governments, and the portion allotted to each subdivid ed among distinct and separate departments. † (Doc. A). Madison's idea was known as Federalism, the division of ower between central and state governments.Federalism provides a double security to the people by the arise of the people's rights. Central and state governments have shared and separate powers. For instant, both governments set up courts and pass laws. Powers given to the Central Government were regulate trade, declaring war, setting up post offices, and making immigration laws. Powers given to the states were holding elections, setting up local governments, passing marriages and divorce laws, and establishing schools. Federalism protects against yranny because both governments were equal and gave people a say in the government.A second guard against tyranny was separation of power which means the government divided into three branches. They separated the government into the executive branch, legislative branch, and Judicial branch. In the Federalist Paper #47 James Madison said â€Å"The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may be Just pronounced the very definition of yranny†¦ † (Doc B). The idea Madison advocated with this quote was that through the separation of powers there tyranny shouldn't form.The Job of each branch is to protect the rights of the people. The separation of powers protects against tyranny because one branch cannot do something without the consultancy of another branch. This provided equal powers between the three branches. The third guard against tyranny was checks and balances which means a balance in power. As indicated in the chart, document C, the legislative branch or congress has check over he executive and Judicial branch it can override the vote of the executive branch and approve of presidential nominations. With the Judicial branch it could impeach judges and remove them from office.They could also do the same with the President and remove him or her from office. The executive branch could appoint Judges to the Supreme Court and can veto Congressional legislation. The Judicial branch can declare laws unconstitutional and declare presidential acts as unconstitutional. James Madison said that â€Å"†¦ (The three branches) should not be so far separated as to ave no constitutional control over each other,† meaning that without check and balances it would be one step closer to a tyranny, because one of the branches could gain all the control of the power (Doc C).In that the fght over how the states should be represented in congress began. The fourth and final step the delegates implied was the arguments between the small and big states and how they should be represented in congress. In the Constitutional Convention there was a big fuss over how the states should be represented, so that the big states votes or uggestions wouldn't overrid e the votes or suggestions of the smaller states. They came to the agreement known as the Great Compromise.In the compromise the agreed that under the House of Representatives the states would be represented by population (Doc. D). This made the larger states happier because they would have more representation over the smaller states. They also agreed to that the Senate of the United States shall be composed of two senators per state, making the smaller states happier because of the equal representation. With the compromise the states ould become united and this would help guard against tyranny.In the Constitutional Convention the delegates and Madison used arguments of federalism through the division of powers, checks and balances and the arguments between the larger and smaller states to guard against tyranny. Although checks and balances and the arguments between are important reason to prevent tyranny, the most important reason for the prevent of tyranny is the separation of pow ers, through the separation of powers the delegates insecurity of our rights. Therefore preventing one group gaining control of all powers. How Did The Constitution Guard Against Tyranny? Tyranny is a malicious enemy, it takes over and, will make you go against your will. The Articles Of Confederation was the first step the American Colonists took to get rid tyranny, but that dramatically failed. The Articles Of Confederation was missing many key parts such as a central government, there was no president, and the wasn’t even a court system. Also it didn’t justify a currency for the whole country.When you went to other states, they all had different currencies, so it was almost impossible to buy things, because people didn’t know how much one currency was worth compared to the other. Another problem the Articles Of Confederation didn’t cover was that there was no way for the central government to force states to pay their taxes. This was a problem because if states didn’t pay their taxes, the states would be a tyrant over the federal government. American Colonists decided that they needed a new constitution if they didn’t want the country to fall apart.The framers of the constitution protected us from the terrible evil of tyranny using four methods, which were, Federalism, dividing the government into three branches, a system of checks and balances, and preventing large states from creating a tyranny over the small states. Document A shows that the first step the framer took to protect us from tyranny was using a form of government called Federalism. Madison’s idea of division of power between central and state governments is known as federalism. (Doc A) From the chart in Document A, you can clearly see that this prevents any tyranny from happening.Powers that are needed to run a country are given to the federal government such as Declaring war, coining money, and conducting foreign relations. (Doc A) Also powers that are needed for a state are given, such as holding elections, and regulating in-state business. (Doc A) Powers that are needed by both states, and the federal law are shared. This prev ents any tyranny from happening because the states can’t take control of federal powers, and the federal government can’t take control of state powers. They can only take the power shared and the powers they own.The second step the framers took to protect us from tyranny was divide the central government into three branches. The section taken from the constitution it’s self shows the three branches of government. James Madison said, â€Å"the accumulation of all powers, legislative, executive, and judiciary, in the same hands, wether of one, a few, or many, and wether hereditary, self-appointed, or elected, may be justly pronounced the very definition of tyranny. (Doc B) The constitution clearly doesn’t put the powers of legislative, executive, and judiciary in one, or many hands.All the branches have split powers. The Legislative branch can only have the powers of congress. (Doc B) The Executive branch has powers vested within the president. (Doc B) Las tly, the Judicial branch has its powers vested in the highest court of the nation, the Supreme Court. As you can see the constitution prevents any branch to gain any more power from other branches. You may ask, â€Å"wasn’t Germany a democracy before Hitler took over? † Yes it was, but the next paragraph explains how the constitution prevented any other branch from taking over powers of another branch.The framers of the constitution created an ingenious way to prevent tyranny of one branch over other branches, with a system of checks and balances. James Madison said, â€Å"the constant aim is to divide and arrange the several offices in such a manner as that they may be a check on the other†. (Doc C) The diagram shows the branches have checks on each other. If the president tries to take the power of another branch, than the legislative branch can impeach the president. (Doc C) This is one of the checks of the legislative branch on the Executive branch.Each bran ch has a check of every other branch, so if one branch is doing something wrong, another branch can check the wronged branch, and fix the problem. This probably answers your question on how another branch can’t take control. One of the last things the framer of the constitution did to make sure no tyrant would arise, was to make sure the smaller states got a fair vote in congress. In the constitutional convention, two plans were proposed called the Virginia plan, and the New Jersey plan. The Virginia plan was favored large states, and was based of population.The New jersey plan favored small states, and gave each state an equal amount of votes. Eventually they came up of something called the great compromise, and they proposed that congress would be composed of the senate, and The House Of Representatives. The House Of Representatives is based of population, which provides fairness to large states. (Doc D) On the other hand, the Senate has two representatives from each state, which provides fairness to smaller states. (Doc D) Undoubtedly, this provides fairness among both large, and small states, ultimately taking a closer step to rid of tyranny.To sum it up, the framers of the constitution protected us from the terrible evil of tyranny using the four methods, Federalism, dividing the government into three branches, a system of checks and balances, and preventing large states from creating a tyranny over the small states in congress. James Madison said, â€Å"the accumulation of powers in the same hands, wether of one, a few, or many, is the very definition of tyranny† , and the constitution does a good job of preventing that. The framers succeeded in creating a well built constitution because all four methods have created security that no tyrant, or tyranny would arise.

MSc Development Finance

Furthering my knowledge in finance and economics is one of my goals. As a native of Brunei, a developing country, I would like to contribute to my country’s progress with the use of the knowledge and skills that I acquired during my undergraduate studies. Majoring in accounting and economics has provided me extensive knowledge of various economic principles and theories and their application in the business world. Although the University of Manchester has given me sufficient knowledge in the field that I have chosen, I believe that pursuing to study under this programme would provide me a broad yet focused knowledge in development finance and its practical application in the public sector. I chose to pursue this programme because of its international focus, group work, and emphasis on learning public finance, bank and non-bank financial institutions, international finance organizations, aid agencies and other finance-related areas of study that can help in understanding how the financial theories governing our country and the world economy work. The program is also designed to teach me financial inclusion and microfinance in relation to poverty reduction. My interest in development finance first sparked during my junior years. My wish to contribute to my country’s progress was further intensified by a course about economic policies of developing countries and their role in the international market. Working at the Ministry of Foreign Affairs and Trade Development in Brunei under the Finance Department for summer internship last summer 2007 has also provided me first-hand experience and knowledge in international trade. I am confident that this university has the capacity to provide students with knowledge beyond the conventional financial educational program. The programme of University of Manchester also includes strengthening the analytical decision-making skills of students. It also offers wider academic opportunities and school resources that will deepen my expertise and broaden my perspectives. I am especially interested and looking forward to the overseas field visit which is a crucial part of the programme. Most of the countries visited are developing countries like Brunei which face similar economic situations. The programme also allows students to conduct research in government and non-government organizations and other universities in the U.K. This can not only broaden my knowledge and hone my skills in finance, but also enhance my socializing and communication skills. With hopes and persuasion in my mind, I aim to establish a career that can contribute to the further development of the financial situation in my county. One of the careers that I have in mind is a job in Brunei Investment Agency (BIA). As mentioned earlier, my country is a developing country. Although we are an oil-producing country, I believe that in terms of investment and contribution to the world economy, there is still much room for progress. Through this programme, I know that I would be able to obtain what is necessary to achieve my goal. Thus, I see myself successful in a career on this field and making Brunei a more developed and investment-focused country. Â  

Benjamin Banneker

Period Benjamin Banker was born In 1731 near Baltimore. HIS Grandmother, an Englishman, taught him to read and write. For several winters he attended a small school open to blacks and whites. There he developed a keen interest in mathematics and science. Later, while farming, Banker pursued his mathematical studies and taught himself astronomy. In 1753, he completed a remarkable clock. He built it entirely of wood, carving each gear by hand. His only models were a pocket watch and an old picture of a clock. The clock kept almost perfect time for more than fifty years.In 1791, Banker served as assistant to Major Andrew , the surveyor appointed by President George Washington to lie out the boundaries of District of Colombia. Secretary of State Thomas Jefferson had recommended Banker to help In this work. From 1791 to 1796, Banker made all the astronomical and tide calculations and weather predictions for a yearly almanac. Banker sent Jefferson a copy of his first almanac. With it he sent a letter in which he called for the abolition of slavery and a liberal attitude toward blacks. Bankers skills impressed Jefferson greatly.Jefferson sent a copy of the almanac to the Royal Academy of Sciences in Paris an evidence of the talent of Negroes. Opponents of slavery in the United States and England also used the almanacs as evidence of blacks abilities. The Publishers of Bankers almanacs printed contributions by prominent Americans in addition to his material. In the 1793 almanac, for example, the famous surgeon and statesman Benjamin Rush proposed the appointment of a U. S. Secretary of peace. Banker himself probably contributed a few proverbs, essays, and poems. I think Benjamin Banker changed the world with his almanac.If It was not for this almanac people would not be able to keep records of certain things that go on astronomically. Such as the weather and the temperature. We would not know what weather to expect at what time of the year. We would not know what kind of moon to look for at night. Banker really showed people that blacks had more abilities than everyone thought. Benjamin Banker By Jay Benjamin Banker was born in 1731 near Baltimore. His Grandmother, an in this work. I think Benjamin Banker changed the world with his almanac.

Three question Essay Example | Topics and Well Written Essays - 1250 words

Three question - Essay Example Thus, I participated in this sales internship program in order to improve and perfect my communication and strategic thinking skills. As a sales intern, i had the responsibility of elaborating the various products to customers. Additionally, I had to convince them to purchase the insurance products. This challenge motivated me to adapt and try to transform my personality. A good salesman listens to what his or her customers say. Therefore, I tried to develop good listening skills. A lot of people do not comprehend what the other individual is saying. This can be as a result of minute concentration. I learned to concentrate fully when my clients were speaking. As such, I got to know about their needs better. A better understanding of their needs gave me an upper hand in convincing them to purchase my products. It’s not just listening to the client’s voice that enabled me to excel in my sales, but also watching their body language. I learnt to recognize when a client seemed disinterested or when I lost him/her. For example, a client is disinterested if he or she constantly interrupts my conversation. In addition, constantly looking at his/her phone is a clear indication that the client is not i interested in the company products. To convince them and gain their trust, I learnt how to speak slowly, concisely, and have all the information at my fingertips. Having polite catchy exit phrases is another way to endear yourself to a client. For example, â€Å"maybe I ought to come back at a later time sir/; madam† is a sure way of dismissing a client politely. This polite way will enable them to come back to you at another time. Therefore, good communication skills are a vital and critical aspect in a sales environment. Prior to undertaking this exercise, my introvert personality had a massive impact on my expressions. I seldom shared what I was thinking. However,

Interest Groups Essay Example | Topics and Well Written Essays - 500 words - 1

Interest Groups - Essay Example The students are the affected people when the parent reaches a point that he/she cannot pay the school fees because their learning is affected. The people who are likely to join the group are the parents. The parents will bear the whole burden. When the cost of education increases, the parents will have to strain when looking for fees. They will join the group because the group will assist to advocate for the reduction of fees or some part being subsidized (Sweenay & Grant 2012, p. 77). The strategy I would use is to approach the institution and discuss the rising costs of education. This will be after forming the group and we will accompany each other with the group members. This will assist as we will assist each other when discussing the issue with the relevant bodies in the institution. The first step is to ask the institution the reasons for the rising costs of education. After getting their views in the reasons, we will go to the next step, which will be the possible solutions to the problem. The next step is to ask and check if there are any unnecessary costs on the budgeted expenditure (Nà ­ Bhrolchà ¡in & Beaujouan 2012, p. 103). If there is any cost that is unnecessary, we shall request the institution to drop the expenditure for the sake of reducing costs. This is because the reduction in costs will help the parents not to strain and at the same time, our studies will not be disrupted. If the institution will not respond to our request, we will take le gal steps. This means we shall seek for assistance from the respective law societies. After getting the feedback from the institution, we shall present it to the parents and other stakeholders whom we were representing. The money to be used in this process will be raised from the student unions. This is because there are some funds set for various activities organized by the student representatives in the university. We will present the opinion to the relevant officials of the

Business Ethics Paper Essay Example | Topics and Well Written Essays - 1000 words

Business Ethics Paper - Essay Example ve sufficient levels of funds to attract, retain and motivate its employees and due to this reason they are considering to outsource their business activities to China. The potential analysis will evaluate the decision of Birds unlimited and will analyze the potential consequences of the company’s actions. Companies are fully accountable for the business actions they perform (Monahan n.p). The main focus of ethical accountability from a company’s perspective is that the operational activities of a company are carried out in a fair and transparent manner and thereby mitigating the risks which arise from the dubious deeds of its employees and other interconnected authorities. While evaluating the present scenario of Bird’s unlimited, ethical accountability in improving the standard of individual as well as group conduct and plays a very important role in the running and formation of a company. It is important that Bird’s unlimited is accountable for its future actions, which include potential downsizing and hiring of Chinese workers and is open to possible challenges in relation to its performance. For Bird’s unlimited, the main principals of Ethical accountability include: A corporation like Bird’s unlimited needs to respect and protect the rights of its shareholders. Birds unlimited are comprised of not only highly competent and skilled employees but individuals who are dedicated and honest to their company. Before deciding to make any potential downsizing, the board needs to evaluate the performance of its competent and skilled workforce and needs to understand and review and evaluate the challenges which are facing the company. One of the key proponents of business principles is honesty and integrity and they prove to be a cornerstone of a company’s business agenda (Wilkins 23-25). A company like Bird’s unlimited has a certain code of ethics and conduct which needs to be fully complied with and forms an integral part of a company’s decision

Karate King Letter to Mr. Johnnie Petro - Case Study

Karate King Letter to Mr. Johnnie Petro - - Case Study Example Just for your information, accounting is not a static system but a dynamic process that incorporates the generally accepted accounting principles (GAAP) that is evolved to suit the needs of the people who read the financial statements of any business. This memo provides some basic details on the principles and concepts like business entity, monetary unit, going concern, cost principle, time period, consistency, materiality, full disclosure, objectivity, revenue recognition and matching principle, which form the basis for applying the GAAP. Under this principle, from an accounting point of view the transactions of a business entity operating in any form of organisation are considered separate and distinct from that of the personal transactions. It is necessary to maintain the personal transactions separate even if the owners work in the business entity. Monetary Unit Principle The assumption behind this principle is that the recording of the accounting transactions would be done in the primary national monetary unit. In the case of Karate King the monetary unit used is US Dollars. It is the responsibility of the accounting function to record all the inflows of sales revenue and the expense outflows in the dollar terms. Going Concern Principle In general it is assumed that a business entity will remain in operation for an indefinite period. This is the principle behind the going concern concept. The continuity of business assumes that the cost of the assets engaged in the business will be recovered over their useful life by way of profits from the business. Cost Principle This principle is closely associated with the monetary unit principle and it requires that the value of business transactions need to be recorded at the actual or equivalent cash cost. This principle is also related to stable dollar assumption. When the economy of any country suffers from continued periods of inflation or deflation comparing the revenues and earnings for different years would be meaningless if it is assumed that the dollar will have a stable value. However it would make sense to express the value of the inventories for resale as well as some items of income and some other balance sheet items in terms of current dollar value rather than on historic dollar value. Time Period Principle This principle requires that the accounting transactions be recorded and analyzed for reporting the financial status and profitability of the business operations over a specific time period of operation. Conservatism Principle This principle requires that the balance sheet items like assets should not be overstated and the value of liabilities should not be understated. Consistency Principle Under consistency principle the financial statements should be prepared applying the same accounting principles from one period to another so that the statements become comparable over different periods. Materiality Concept The materiality concept implies that all items having value which are important and material should be reported in a correct way so that the readers of the financial statements can take proper decisions. Full Disclosure Principle This principle states that any future event which is likely to have a major economic impact on the financial position of the company should be disclosed fully to the potential readers of the financial statements. Objectivity Principle This principle implies that all the accounting tr