Sucker By James Joyce Analysis - 2089 Words

Adolescence comes from the Latin verb adolescere which means to grow into maturity. In other words, it is the period in which an individual must establish a sense of personal identity. In the Carson McCullers’s story â€Å"Sucker† two young characters struggle with their transition to adulthood. The narrator Pete, is 16, and the older of the two boys by about three years. The stories action covers an extended flashback in which Pete reflects on his relationship with his cousin Sucker, who has lived with him since his â€Å"folks were killed in a wreck when he was a baby† (McCullers 2). Pete generally treats sucker poorly causing the latter to isolate himself, however, once the former falls for a girl named Maybelle their relationship changes.†¦show more content†¦In due of the fact that primarily, adolescent love is an attempt to arrive at a definition of one s identity by projecting their self image on another person. Adolescents are looking for self-af firmation in their partners, and Pete is no exception. He appears to learn nothing about Maybelle but much about himself. Pete finds that towards the conclusion of the relationship he is the only one involved. He has showered Maybelle with gifts and services, asking only for her affection in return. But his romance is never realized â€Å"I met her going to the drug store and asked for a date. She told me she was sick and tired of my being around and that she had never cared a rap about me. She said all that. I just stood there and didn t answer anything. I walked home very slowly† (McCullers 5). Furthermore, it is clear that to Pete, Maybelle is a purely physical entity in that, every description of her portrays only her beauty and indescribable perfection â€Å" ..her hands†¦are very little and white†¦It is impossible to describe† (McCullers 2). Similarly, in Araby, the narrator shares the same blind obsession with the idea of winning the love of a perfect woman. The boys infatuation with Mangan s sister drives him away from childhood towards adulthood. He breaks ties with childhood friends and luxuriates in his isolation. Like Pete he can think of nothing but how ecstatic she makes him feel, describing how his â€Å"body was like a harp and her words and

Essay on The Gift of the Magi - 4446 Words

Many critics agree, â€Å"The Gift of the Magi† is, in all respects, an amazing and one of a kind story. One critic says, â€Å"Ironically, Fagin arrives at something utterly crucial to the success of The Gift of the Magi: that it has everything—an absorbing (if short) narrative drive and a twist ending that makes it wholly original† (Korb). Even renowned critic, Rena Korb, agrees; O.Henry did an excellent job with this story. Though O. Henry wrote many great stories, one of his most famous, and favorite, stories of all time is â€Å"The Gift of the Magi.† â€Å"The gift of the Magi† is a classic about a couple who sacrifices their happiness for the other. It is one of Henry’s most popular stories by far; even being remade many times. Such a popular story†¦show more content†¦O. Henry included two more quotes, â€Å" Her eyes were shining brilliantly†¦.† and â€Å"†¦it terrified her,† to show that her emotions changed many times. Dellas emotions went from being sad, to being hopeful of getting money, and then to terrified that she would no longer be accepted by Jim. Though Dellas emotions change, Della is still static overall. Without being directly stated in the story, it is shown that Della loves Jim in the beginning and also loves him at the end. Della even went to lengths of having her hair cut off in order to please him with a great gift. Throughout the entire story, hints are displayed, telling the reader that Della loves Jim (Henry). A major show of this being that she cut her hair off just to get him a good present. Critic Rena Korb talks about the sacrifice of goods stating, â€Å"convey†¦ unselfish sacrifices we make for those we love†¦. Not sentimental, but universal truth† (â€Å"The Gift of the Magi†). Interpreted, this means that people give up things close to themselves in order to please people they love. Everybody does it, so nobody can say that t hey have not, or would not. Della is no different. Also, since there is no concrete proof of these feelings, it leads to the realization that there is indirect characterization and also sort of shows that the story is not driven to characterize the people. â€Å"The Gift of the Magi† is a plot driven story, not a character driven one (â€Å"The Gift of theShow MoreRelatedThe Gift Of The Magi1132 Words   |  5 PagesThe Magi refers to the Wise Men or Kings in the Gospel of Matthew and Christianity. They visit Jesus after his birth and bring gifts of gold, frankincense, and myrrh to him. Also, they are important figures of celebrations of Christmas. Christmas gifts are precious, so people want to receive the most valuable gifts at the end of the year, such as the gift of Magi. A famous American writer O. Henry creates The Gift of The Magi, a short story of giving gifts on Christmas Eve, which is a common themeRead MoreThe Gift of the Magi1271 Words   |  6 PagesThe Gift o f the Magi Ashlee Stevens ENG125: Introduction to Literature Amy Sloan September 10, 2012 Ashford University The Gift of the Magi The Gift of the Magi was about sacrificial love. The story explained how important it is to be willing to sacrifice for the one that you love. No matter what the circumstance, if a person can unselfishly give of themselves for another, they can experience life in a whole new way. Many people give what is not important to them andRead MoreThe Gift of the Magi2202 Words   |  9 PagesThe Theme of â€Å"The Gift of the Magi† William Sydney Porter, or O. Henry as it is widely known, is one of the most famous names in American literature. He was a master short-story writer of nearly 300 short stories. With a very inventive mind, he made plots for his stories from the commonplace things. The settings of his stories were drawn from his experience and, likewise, his characters were based on actual people he had known. In rapid-moving prose, he developed his stories imaginatively andRead MoreThe Gift of the Magi1377 Words   |  6 PagesLITERARY ANALYSIS ESSAY THE GIFT OF THE MAGI The Gift of the Magi is one of the most popular short stories by O. Henry, a pen name for William Sydney Porter - a renowned American author. Originally published in 1906, in O. Henry’s second collection of short stories, The Gift of the Magi which displays all of the major O. Henry traits in abundance has given him credit for his genuine talent. It has been retold in various forms since then, especially at Christmas time. The storyRead MoreThe Gift Of The Magi853 Words   |  4 PagesHow far can a couple go in getting a gift for their love ones on Christmas day? â€Å"The Gift of the Magi† is mainly about a young married couple who doesn’t have enough money to buy each other Christmas gifts. Having only one dollar and eighty-seven cent Della, one of the main character, decides to sell her hair for only twenty dollars. This gives Della an opportunity to buy her husband, Jim a gift. Meanwhile, Jim who also is buying Della a present is having trouble with mo ney, he decides to sell hisRead MoreThe Gift Of The Magi1022 Words   |  5 Pagestime-less works of art, the Marxist sees them as constantly formed by their social contexts in ways which they themselves would usually not admit† (Barry 152). His claim is certainly evident through a careful analysis of O’Henry’s short story. The Gift of the Magi appears to be a bittersweet story about a couple that would truly give up their most prized possessions to convey their love to one another at Christmas. However, a Marxist approach to the tale reveals the complexities of a capitalist societyRead MoreThe Gift of Magi and Its Background792 Words   |  4 PagesThe Gift of the Magi and its Background Mindy Phillips Introduction to Literature ENG125 Instructor Julie Alfaro January 21st, 2013 In my paper I am going to be describing the short story The Gift of the Magi. Throughout my paper I am going to describe what I feel is the theme of the story itself. I will also be explaining and identifying symbolism used and described in the story, as well as talking about the point of view that the narrator used in the story. Finally, I will be describingRead MoreThe Gift Of The Magi Analysis1757 Words   |  8 Pagesalmost complementary as either word may serve as the precedent of the other word. Having stated the latter as the foundation of true love and of living a happy life, two stories with similar themes about true love come to mind. Upon reading The Gift of the Magi by O. Henry and The Pianist in the Wal-Mart Parking Lot by Shao Wang, both authors use the protagonists’ actions, situations, and the protagonists’ words to clearly demonstrate the value or the theme of true love and sacrifice. When readingRead MoreThe Gift Of The Magi Analysis808 Words   |  4 PagesAuthor, O. Henry in his short story, â€Å"The Gift of The Magi†, claims it is okay to sacrifice for others. He supports his claim be first using a logical appeal to show Della’s self sacrifice, then using another emotional appeal to show Della and Jim’s love for each other, and finally using a logical appeal to show Jim’s sacrifice for Della. Henry’s purpose is to inform others about Della and Jim’s sacrifice in order to show that it is okay to sacrifice for others. He establishes a sad and wonderfulRead MoreSummary â€Å"the Gift of the Magi†1235 Words   |  5 PagesSummary â€Å"The Gift of the Magi† â€Å"The Gift of the Magi† is a wonderful short story. It is the brilliant story that shows the true meaning of selfless love that the author tries to let the readers to know from the Christmas gifts. It is not what the gifts are , but the meaning behind the gifts is more important. This text is a story about Della and Jim Young , a married couple with very little money. On the

Sport Tourism in Manchester, United Kingdom Free Essays

string(74) " result in the splitting of vital resources to the detriment of everyone\." Abstract The evolution of Urban Tourism has provided a wide range of opportunity for the city of Manchester, UK. Alongside this opportunity Manchester has determined to employ a sport centred economic plan in an effort to bring in revenue. This study begins by assessing the underlying policies alongside the economic and social context in order to establish the overall direction of the rebranding effort of the focus on the area of sport. We will write a custom essay sample on Sport Tourism in Manchester, United Kingdom or any similar topic only for you Order Now Next, this work examines the competing interests with the advent of the policy records in order to produce a credible series of results. Employing these results illustrated a wide range of benefits for the sport centred urban tourist effort. Alongside the positive elements is a strong residual argument that further study of the often volatile market segment will be needed in order to fully assess every opportunity. Policies Current statistics illustrate the UK tourism market is centred in urban areas by a wide margin (Beioley 2002, pp. 1). This revenue stream can be utilized to reinvigorate a local or regional economic outlook in a variety of manners. Analysis demonstrates that city tourism differs from national tourism in that it is shorter, higher spending and far more reliant on the underlying public services (Beioley 2002, pp. 2). This is a positive component to the effort by Manchester, suggesting that there is a fundamental shift in policy to accompany this approach. Beginning with an initial report on the feasibility of transforming Manchester into a tourist destination, the concept of a sport centred industry has been favourably looked upon by the city (Law 2012, pp. 1). Lacking the infrastructure support would hamper the overall implementation of this avenue, making regulatory partnership vital. Manchester has found itself in positive area by building a partnership with both the social and leg islative elements. Manchester has recognized that the area of sport is a very popular cultural draw with the potential to spread good will towards the entire city and region (Tallon 2010, pp. 239). This facet of their plan not only built a solid foundation, but expanded the accompany revenue base. Regulators instituted policies that have resulted in the construction of the City of Manchester Stadium, with the explicit goal of revitalizing the entire district. This approach to the revitalisation effort has been heralded as a solid foundation upon which to build the regeneration of Manchester’s entire infrastructure (Tallon 2010, pp. 239). Underlying policies that are conducive to the sport arena are credited for energizing the tourist trade, transforming the image of the city itself as well as creating a sustainable form of industry that can serve to propel the city into the next era. Each of these components adds value, yet, the potential for a substantial lack of cohesiveness does exist (Ta llon 2010, pp. 239) Employing governmental assistance that designated Greater Manchester an ‘Enterprise Zone’ in 1987, there has been a sustained drive to capitalize on the potential for urban tourism centred on the area of sport (Tallon 2010, pp. 52). This on-going assistance has been a tremendous benefit to the implementation of the urban renewal plan. As a result of the on-going campaign to build economic progress, regulators have actively worked to instil a tourism friendly element that is a continual boon to the urban recovery process in Manchester (Weed 2010, pp. 187). Alongside the recognition of the potential revenue to be found in the tourist trade, Manchester has worked unceasingly to put itself in a better strategic marketing position. It is the combination of forward thinking policy in conjunction with an adaptable industry that demonstrates Manchester’s long term commitment to the area of urban tourism. Economic and Social Context In a very public effort to rebrand the city in the 1990’s, Manchester adopted the new motto â€Å"The life and Soul of Britain† (Spirou 2011, pp. 112). A demonstrative first step allows a positive perception to begin. This rededication was a precursor of the effort to improve the social and cultural perception of Manchester as a destination. Acting on the potential for an increase in revenue, Manchester rightly pursued the industry of sport as a method to address this deficiency (Weed 2010, pp. 187). Succeeding in attaining their goal of the Common Wealth Games of 2002this economic activity served to lift the city above the dismal outlook with the further positive ramification of being judged relied upon to do the same for many similar progressive endeavours (Weed 2010, pp. 187). This is a positive element in that each project further strengthens the infrastructure. Manchester’s demonstrated the widely felt social imperative to look beyond the current methods of creating revenue in order to make the most of the possibilities (Ashworth and Page 2010, pp. 1). This approach is in line with the working recognition for the need to employ an approach that connects the infrastructure of social sciences, with a focus on the element of urban studies to industry. Manchester’s ability to embrace the social science aspect has led to a tourism industry that has the potential to continue to expand (Ashworth and Page 2010, pp. 1). An associated increase in revenue and visitors is a positive credit to the underlying effort. The implementing of the urban tourism plan has yielded substantial benefits to the social and cultural fabric of Manchester (Law 2010, p. 129). Underlying infrastructure such as road and regional travel has drastically improved as a result of the urban tourism drive. The establishment of stronger underlying elements enables the wide variety of non-sport related activities to benefit from the industry as well (Law 2010, pp. 129). Through the increased capacity to travel easily, more visitors have been attributed with coming to the city, providing a wealth of revenue for many of the industries that rest well outside of the sport focus. Yet, this also brings in the potential for related issues that could detract from the sport centred focus of the city (Law 2010, pp. 130.) The lack of proper application has the potential to result in the splitting of vital resources to the detriment of everyone. You read "Sport Tourism in Manchester, United Kingdom" in category "Essay examples" Manchester was able to learn from their bids for the Olympic Games, adapt and make a successful bid for the Commonwealth Games (Cook and Ward 2011, pp. 2519). This is clear demonstration that the legislative and social perception was ripe for the development of an industry mechanism with the capacity to help them succeed. Combining the element of politics, social responsibility and ethical practice Manchester has managed to achieve a state of relative prosperity that will lend credence to the spirit of urban tourisms vital capacity to lend aid to struggling economies. Competing Interests Alongside the development of Manchester as ‘SportCity’, there are the separate industries that must compete in order to survive (Smith 2013, pp. 385). This recognition requires that any successful long term plan must include the capacity to bring in each of the disparate elements in such a manner that it promotes the whole. Modern studies on the benefits of creating a sport centred industry have been found to be beneficial, although the lack of adequate planning has the inherent capability of hobbling the industries that have little to do the with sport (Smith 2013, pp. 385). In the drive to enable the full range of economic benefits, ill-considered actions can have a tremendous impact on the remaining components of any cities combined industry. An emerging market that has found turbulence in Manchester sport is the market for the gay community (Hughes 2003, pp. 152). Many argue that the perception of the gay lifestyle is in direct contrast to the effort to establish a sport destination spot. Targeting a market with substantial revenue, yet possessing potentially negative aspects when interacting with sport centred marketing, there is a real need to develop an overall approach that provides an inclusive element for progress (Hughes 2003, pp. 152). The ability to include the often contrasting positions of the competing groups in the city provides an ample illustration of the capability of the regional government to conduct large scale tourist attractions. In an effort to address the diverse industries vital to the city, Manchester created a council referred to as the Employment in Construction Charter with the focus of linking the public sector to the private companies in order to distribute the growing revenue (Spirou 2011, pp. 206). This is a direct reflection of the effort to balance the division of power in order to promote a policy of growth for each of the separate factions. During the bid for the Commonwealth Games, Manchester was credited with not only appealing to the larger international community, but providing substantial providence for the local retailers as well (Cook and Ward 2011, pp. 2525). This demonstrates that Manchester learned from the prior Olympic Games Bid and adjusted to meet the requirements of the diverse elements in a successful manner. Effectiveness of Policy The City of Manchester efforts to revitalize the region through the utilization of the urban tourist area of sport has yielded significant results. The cities recognition that tourism is one of the highest revenue producing streams available has created a viable window of opportunity (Ritchie and Adair 2004, pp. 269). This approach has begun to yield a substantial return in both the financial and social perception areas. Sports tourism has the unique ability to both unlock the heritage elements that benefit that region of industry and the underlying natural and cultural depth that lies alongside the city (Ritchie and Adair 2004, pp. 269). These outcomes serve to illustrate the veracity of the path taken by Manchester in the effort to rejuvenate their city on every level. Working towards goals that include the International Olympics and the Commonwealth Games are a very effective policy for a wide variety of reasons (Ritchie and Adiar 2004, pp. 269). Even the unsuccessful bids produce a litany of economic resources for the city. With national entities such as Tomorrows Tourism, Britain’s National Tourism concern, actively participating in the drive to establish a positive outcome, the underlying infrastructure benefited on every level. Many of the internal improvements to the city are reflections of the efficacy of the urban renewal efforts. With the increased amount of visitors, the number of museums in Manchester is on the rise, with the subsequent impact of improving the outlook for the Greater Manchester Museum of Science and Industry (Law 2010, pp. 76). This is a direct result of the effectiveness of the policy in place. Manchester has successfully raised its profile to an international level that has the capacity to fuel the cities entire economic engine (Ritchie and Adair 2004, pp. 274). Forging trade alliances in several fundamental industries outside of the sport centred world served to broaden the Manchester business base, which in turn will balance the long term sustainability outlook for the cities programs. Currently, Manchester boasts ultra-modern constructs such as the Lowry Centre, which alongside the rapidly developing art and culture industries have evolved into a very credible, and well balanced economic environment (Di-Toro 2010, pp. 1). This is a very apt demonstration of the ability of a savvy electorate to forge a business environment that is perceived to be beneficial by the majority of the populace. This concerted and progressive policy implementation has vaulted Manchester to third in the most visited cities in the UK, following London and Edinburgh (Di-Toro 2010, pp. 1). Together with the foundation of sport centred tourism, Manchester is rapidly becoming a well-rounded destination that has an appeal to many separate social levels, thereby increasing the cities overall value in terms of urban tourism potential. Areas of Improvement The ambitious drive by Manchester to lift their economic outlook via the instrument of sport centred tourism has not been without its significant detractions (Ritchie and Adair 2004, pp. 274). With the most glaring error being the single minded approach to the marketing method, the availability of associated markets in Manchester has been deemed to be small as compared to other regions. As a consequence, there is not a strong central or primary community that will allocate the overall distribution of income (Ritchie and Adair 2004, pp. 274). As the sport industry continues to thrive without proper planning, there is the real potential for the other un-associated industries to flounder. Davies (2010, pp. 1238) argues that there needs to be a far greater development of the role of sport within the underlying infrastructure before implementing any long term planning. The often volatile nature of the field itself can hamper the successful proliferation of progressive policy, instead hampering the growth due to poor performance. The focus on the building of ‘Sportcity’ in Manchester, while producing an economic viability option, has taken over much of the city itself, irrevocably altering the face of the city forever (Berg, Braun, and Otgaar 2002, pp. 56). This fact has the potential to diminish the historical or creative aspects of the city’s tourism potential. The overall effort to instil a sense of long lasting progress will be reached through the development of a strategic plan that brings together the disparate elements of both the sport and tourism industries (Ritchie and Adair 2004, pp. 274). The arena of tourism is dominated by the area of commercialism, bringing the very real potential for the base interests of the commercial industries to begin to take precedence over the needs of the local population. The addition of the sport element, with its series of oversight mechanisms enables the creation of a credible system of checks and balances with the depth to take the city forwa rd into the next era. References Ashworth, G. and Page, S. 2010. Urban tourism research: Recent progress and current paradoxes. Tourism Management, 32 (1), pp. 1-15. Beioley, S. 2002. Metro land-The urban tourism market. Tourism Insights, 1 (1), pp. 1-3. Berg, L., Braun, E. and Otgaar, A. 2002. Sports and city marketing in European cities. Aldershot, Hampshire, England: Ashgate. pp. 1-125. Cook, I. and Ward, K. 2011. Trans-urban Networks of Learning, Mega Events and Policy Tourism. Sage Journals, 48 (12), pp. 2519-2535. Davies, L. 2010. Sport and economic regeneration: a winning combination?. Sport in Society, 13 (10), pp. 1438-1457. Di-Toro, M. 2010. Britain’s hip new tourist destinationsManchester, Glasgow, Birmingham and Liverpool. Visit Britain, 1 (1), pp. 1-3. Hughes, H. 2003. Marketing gay tourism in Manchester. Vacation Marketing, 9 (2), pp. 152-163. Law, C. 2002. Urban tourism. London: Continuum, pp. 1-200. Ritchie, B. and Adair, D. 2004. Sport tourism. Clevedon, England: Channel View Publications. pp. 1-300. Smith, A. 2013. The Development of â€Å"Sports-City† Zones and Their Potential Value as Tourism Resources for Urban Areas. European Planning Studies, 18 (3), pp. 385-410. Smith, A. 2013. REIMAGING THE CITY: The Value of Sport Initiatives. Annals of Tourism Research, 32 (1), pp. 217-236. Spirou, C. 2011. Urban tourism and urban change. New York: Routledge, p. 1-200. Tallon, A. 2010. Urban regeneration in the UK. London: Routledge, pp. 1-200. Weed, M. 2010. Sport, Tourism and Image. Journal of Sport Tourism, 15 (3), pp. 187-189. How to cite Sport Tourism in Manchester, United Kingdom, Essay examples

Ethics in CSR-Free-Samples for Students-Myassignementhelp.com

Questions: 1.Are there any links or references to GRI and UN Global Compact (UNGC)? Briefly outline these references. What implication and impacts does that have on the sustainability of PUMA? 2.Using the GRI table, identify the social and environmental issues disclosed for PUMA that could be improved on. Which ones suggested by the GRI are not identified? Answers: 1.Links between GRI and UN Global Compact (UNGC) There are indeed certain links between the GRI and the UN Global Compact (UNGC). The companies who participate in the Global Compact commit themselves to some of the universal principles that have to be abided by mandatorily. These areas are human rights, labor, social environment and anti-corruption. The Global Compact has made some particular levels of commitment levels in their COPs. They have some minimum GC Active level in which the Chief Executive of the particular company has to make sure about how they have been committed in commitment to the facts that have been mentioned in the GRI (Fernandez-Feijoo, Romero and Ruiz 2014). The companies must include the ten principles that are important for securing the Strategies and Operations of the company in those chosen areas. The companies must have to take action in the cases where the rules are breached and they have to strict so that they can be supportive towards the broader objectives taken up by the United Nations. In this way the corporate governance and leadership will be feeling an impact with its sustainability (Benn, Dunphy and Griffiths 2014). A company like Puma will have deep implications because of this Global Compact. They have to maintain those guidelines for achieving the sustainability (About.puma.com 2017) The core values they focus on are the social, economical and environmental developments. They will be looking forward to serve the society more with their charity works which they think is part of their Corporate Social Responsibility (Schneider and Schmidpeter 2012). The sustainability strategy they follow is based on more than 20 years of Code of Conduct policies. 2.Social and Environmental issues in Puma Puma has been focusing on various social and environmental issues and the social issues according to the GRI table contain the materials, energy, water, biodiversity, emission, effluents and waste, products and services, compliance, transport and environmental assessment. These factors are characterized by G4-DMA, G4-EN2, G4-EN3, G4-EN5, G4-EN6, G4-EN7, G4-EN11, G4-EN12 and many others. Their main aspect of industrial experience belongs to the products and services which is characterized by G4-DMA and G4-EN27 that tells about Extent of impact mitigation of environmental impacts of products and services (Fernandez-Feijoo, Romero and Ruiz 2014) The social factors that are described in GRI table are employment, occupational health and safety, training and education, diversity and equal opportunity, supplier assessment for labor practices and labor practices grievance mechanisms. These factors are characterized by G4-DMA, G4-LA1, G-4 LA6, G4-LA9, G4-LA10, G4-LA11 and many others. Puma ha ve abided by the guidelines that they should not engage any child labor in their production process, they have assured the freedom of association and collective bargaining, security practices, proper investment on the products and non-discrimination between their employees (Benn, Dunphy and Griffiths 2014). Puma could be improving on various factors like biodiversity of their products, they have opined that their environmental sustainability is based on the Precautionary Principle (About.puma.com 2017). They focus on preventing their customers, employees and entire society from any harm so that they can maintain the international health and safety standards. They have also enforced upon being a corporate citizen and they look to contribute to the society in positive. Still they have to look to improve on the facts of antic-corruption policies and transport problems of delivering their goods (Schneider and Schmidpeter 2012). References About.puma.com. (2017). PUMA This is Puma. [online] Available at: https://about.puma.com/en/this-is-puma [Accessed 15 Jun. 2017]. Benn, S., Dunphy, D. and Griffiths, A., 2014.Organizational change for corporate sustainability. Routledge. Fernandez-Feijoo, B., Romero, S. and Ruiz, S., 2014. Effect of stakeholders pressure on transparency of sustainability reports within the GRI framework.Journal of Business Ethics,122(1), pp.53-63. Schneider, A. and Schmidpeter, R., 2012. Corporate social responsibility.Verantwortliche Unternehmensfhrung in der Praxis, Berlin ua.

Negotiations Case Study

Introduction Pergy Fischer is the current chair of Mid-Western contemporary Art. Fischer took over the management of the museum at a time when it had a number of problems; most of them were financial. The museum was in need of premises and thus the management decided on building new premises. The new building was to ease congestion in the operation of the day-to-day activities at the museum.Advertising We will write a custom critical writing sample on Negotiations Case Study specifically for you for only $16.05 $11/page Learn More Moreover, the new premise was to help the museum stock a variety of more artifacts from various parts of the world. Initially, the construction of the building was seen as a simple venture that would not raise any problems. To raise funds for the same, many people had pledged to donate towards the project. However, a challenge arose because the greatest pledge came from the former Chair of the museum, Mr. Peter Smith. Alternati ve Approaches Relying on pledges to fund the new project proved very unreliable. Overtime, it became apparent that most donors would not honor their pledges. Many donors and stakeholders had pledged enough money towards the project. However, the donor would end up paying only a part of the pledge citing economic hardships as the challenge. Other donors would just change the priority of giving and therefore to some extent heavily vary the amount pledged. Since the introduction of the FASB accounting rule, it became mandatory that all the nonprofit organizations record all the pledges as income during the time of the pledge. The new requirements and rules made the number of lawsuits in the US law courts, relating to donor pledges, to rise sharply. These lawsuits were made in order to seek the court redress in claiming the unfulfilled pledges. A former chairperson had made a huge pledge towards the project but also failed to honor it. Consequently, Fischer sought the board’s adv ice on the case that involved the Smith’s unfulfilled pledge. Due to not fulfilling the pledge, lack of funds was seriously affecting the museum and the construction project was seriously stalling. During the meeting, the board members argued about the idea and finally settled that the lawsuit was not the best idea then.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Since the court approach was not the best solution, Fischer was contemplating the next alternative approach to collect the unfulfilled pledge. According to Born (2009), if one does not wish to bring a lawsuit against another, arbitration is the best alternative remedial process. Arbitration serves the aggrieved party but it does not involve any court process. Born (2009), further observes that arbitration helps parties to avoid costly and lengthy litigations. Noting Smith’s current situation as discuss ed in the meeting, arbitration will simply be the smartest idea. Instituting a lawsuit against smith would simply leave him weaker and in the process jeopardize his life. It is, therefore, advisable that, considering his current situation, the museum institutes an arbitration process in order to encourage him to honor his pledge. Such a process will help both parties to easily reach a consensus. Moreover, consensus will be arrived at in a less costly way and save time as opposed to lengthy court cases. Should Fischer involve the board or formulate a recommendation on her own for the board’s next meeting? Following the first meeting with the board, Fischer received quite a number of ideas in terms of alternatives to lawsuits. The ideas gathered from board members aimed at ensuring the organization does not have to proceed with any legal suit against Smiths. Most of the argument were based on the situation that smith is in, while others argued with the image of the organization in mind. In a way, it will be noble for Fischer to involve the board in further discussion leading to any action against Smith. This will highly reflect the element of transparency and accountability in her leadership. Further, involvement of the board in determining next agenda enhances democracy and participation. Nonetheless, basing on the first board meeting, it may seem like wasting time to involve the board in setting the next agenda. It would appear like waste of time because the board seems to have already agreed unanimously on the decision to follow. This means that involvement of the board will not change much on what is already agreed. Formulating a recommendation on her own for the board’s next meeting will have many implications.Advertising We will write a custom critical writing sample on Negotiations Case Study specifically for you for only $16.05 $11/page Learn More Though Fischer is the Chair of Mid -West contemporary art, the p osition does not give her absolute powers to do as she wishes. By formulating a recommendation on her own for the board next meeting, it means that she has undermined the decision reached earlier by the board, and that she no longer values the output of the board as she can equally do better without the board. Similarly, her decision means she has started dictating to the company on what to do, without necessarily consulting in order to get the perspectives of the rest. Making the organizations’ decision on her own, it would mean that, she no longer upholds the virtue of practicing democracy and that she now prefer authoritarian things to the rest of the board members. According to Gasper (2005), leadership should be learned rather than being inherited. Gasper (2005) simply means that a leader should develop his leadership skills through interaction with the rest rather than doing things depending on what he think is acceptable and favorable. Gasper further notes that the bes t style of leadership is the one that combines the elements of democracy and directive. With democracy, the author notes that the leader should practice the issue of giving power to be self-directing. Should the museum sue Smith or not? There are many factors, which should inform the decision on whether the museum should sue Smith or not. First, Smith has a moral responsibility to pay the pledge he made to the museum. Regardless of Mr. Smith’s current Situation of suffering from cancer, his written pledge still stands. When the museum received the following pledges it had a lot in mind, and by all standards, the pledge came in to relieve them. Unfortunately, even after the museum had started implementing some of its plans with the pledge in mind, like coming up with a bigger and modern structure, the pledge was not fulfilled. As of now, the Smith’s are elderly and sick. Consequently, the chances of recovering the pledge from them get slim with the passing days. The smi th pledge issue is compounded by the fact that the board is almost unanimous that the museum is not supposed to sue the Smiths. The reason the board is adamant on not suing the Smiths’ is that the Smiths’ have been long members of the museum.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Particularly, Mr. Smith was a long serving chairman of the museum. There have equally been worries of the reputation of the organization and the Smiths’ if the lawsuit were to go through; considering that, particularly at this time, Mr. Smith is tremendously ill with cancer. The reputation of the museum has to be safeguarded if it is to viewed favorably by the public and other donors in general. The board is avoiding a negative image; where it will be seen as greedy by engaging in a court battle whenever issues come up. Similarly, the board is afraid that suing Mr. Smith will anger him so much, such that he will never again try to lend or even give any part of his money to the museum. The board is also afraid that by suing, Mr. Smith and other donors will be forced to think twice before they offer the museum any money. Largely, I think the museum should not have hesitated in suing Mr. Smith because legally Mr. Smith had committed a crime by pledging to offer an amount worth $ 5millions to the museum, a pledge he never satisfied. According to Keown (2003), a financial pledge has lot of significance in any business or organization, because a part from being recorded as income in account receivable, the organization is also valued with the amount of money pledged in consideration. This pledge made the museum to experience intense financial stress. Were it not for the pledge, the museum would not have commenced constructing the new structure that had actually cost the museum a lot of money. Reference list Born, G. (2009). International Commercial Arbitration. Kluwer law international: Amsterdam Gasper, E. J. (2005). Introduction to Business. Cengage Learning: Boston. Keown, J. (2003). Foundations of Finance: The Logic and Practice of Financial Management. Pearson Education Inc: London. This critical writing on Negotiations Case Study was written and submitted by user Dorothy R. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Monasticism In The Middle Ages Essays - Asceticism, Free Essays

Monasticism In The Middle Ages Essays - Asceticism, Free Essays Monasticism in the Middle Ages During the twelfth and thirteenth centuries, the monasteries served as one of the great civilizing forces by being the centers of education, preservers of learning, and hubs of economic development. Western monasticism was shaped by Saint Benedict of Nursia, who in 529, established a monastery in southern Italy. He created a workable model for running a monastery that was used by most western monastic orders of the Early Middle Ages. To the three vows of obedience, poverty, and chastity, which formed the foundation of most of the old monasteries, he added the vow of manual labor. Each monk did some useful work, such as, plowing the fields, planting and harvesting the grain, tending the sheep, or milking the cows. Others worked at various trades in the workshops. No task was too lowly for them. Benedict?s rules laid down a daily routine of monastic life in much greater detail than the preceding rules appear to have done (Cantor 167-168). Schwartz 2 The monks also believed in learning, and for centuries had the only schools in existence. The churchmen were the only people who could read or write. Most nobles and kings could not even write their names. The monastery schools were only available to young nobles who wished to master the art of reading in Latin, and boys who wished to study to become priests (Ault 405). The monasteries played a part as the preservers of learning. Many monks busied themselves copying manuscripts and became medieval publishing houses. They kept careful calendars so that they could keep up with the numerous saints? days, and other feast days of the medieval church. The monks who kept the calendar often jotted down, in the margins, happenings of interest in the neighborhood or information learned from a traveler. Most of the books in existence, during the Middle Ages, were produced by monks, called scribes. These manuscripts were carefully and painstakingly handwritten. When the monks were writing, no one was allowed to speak, and they used sign language to communicate with each other. The books were written on vellum, made from calf?s skin, or parchment, made from sheep?s skin. The scribes used gothic letters, that were written so perfectly, they looked as if they were printed by a press. Many of the books were elaborately ornamented with gold or colore! d letters. The borders around each page were decorated with garlands, vines, or flowers. After the books were written, they were bound in leather or covered with velvet. The monks copied Schwartz 3 bibles, hymns, and prayers, the lives of the saints, as well as the writings of the Greeks and Romans and other ancient peoples. The scribes added a little prayer at the end of each book, because they felt that god would be pleased with their work. Without their efforts, these stories and histories would have been lost to the world. The monks became the historians of their day by keeping a record of important events, year by year. It is from their writings that we derive a great deal of knowledge of the life, customs, and events of the medieval times (Ault 158). Medieval Europe made enormous economic gains because of the monks. They proved themselves to be intelligent landlords and agricultural colonizers of Western Europe. A very large proportion of the soil of Europe, in the Middle Ages, was wasteland. There were marshes and forests covering much of the land. The monasteries started cultivating the soil, draining the swamps, and cutting down the forests. These monastic communities attracted settlements of peasants around them because the monastery offered security. Vast areas of land were reclaimed for agricultural purposes. The peasants copied the agricultural methods of the monks. Improved breeding of cattle was developed by the monastic communities. Many monasteries were surrounded by marshes, but their land became fertile farms. The monasteries became model farms and served as local schools of agriculture. Farming was a chief economic activity of the monasteries. They sold the excess that they grew in the marketpla! ce, and this drew them into trade and commerce. Schwartz 4 They sold hogs, charcoal, iron, building stone, and timber. This made them into the centers of civilization. Many monasteries conducted their market during patron saint?s

Maria Gaetana Agnesi Research Paper Example | Topics and Well Written Essays - 500 words

Maria Gaetana Agnesi - Research Paper Example The mathematic books of Agnesi contain deeper explanations and numerous examples. The books contain various methods of tackling a problem and numerous examples of the same kind question. However, the language in use is simple for learners to understand the mathematical concepts easily and encourage love of mathematics in general. Most of the textbooks currently only have few examples and a formula to solve a problem in a particular topic. This serves as a great disadvantage to students as mathematics as a subject requires numerous examples as well as different ways of solving a question (Cupillari) Agnesi had the knowledge of different languages and therefore, coming up with a simpler mathematical language was easy for her. She simplifies her books into easy language containing important details explaining the derivation of a particular mathematical formula and most importantly how to use the formula to solve a mathematical problem in the specific topic providing better option to other textbooks. Textbooks of Agnesi contain many examples in each topic providing adequate self-assessment questions for the students. The best textbooks should contain numerous examples on how to make use of a mathematical formula to solve a question. Students using Agnes i’s textbooks acquire higher grades due to the many examples in provision comparing to students using other textbooks. Numerous alternative methods are in provision in Agnesi mathematics textbooks in comparison to other mathematics textbooks. It provides choices to students on which method to master depending on the understanding of the question and the knowledge of the concept to use. This provides the opportunity of choosing a particular way of doing a question, which is rare in other textbooks (Baltimore) A cubic curve refers to an algebraic curve with the specific curve order 3. The form of shows a cubic function a cubic function is clearly shown by a polynomial function of degree 3. If

Radio Broadcast and the FM Essay Example | Topics and Well Written Essays - 3000 words

Radio Broadcast and the FM - Essay Example The information was now made available at distances ranging from hundreds of kilometers without the transfer of any physical thing and also the same data was available to a large population at the same time. This technology also paved a whole new way of entertainment and music and the business associated to these industries. The technology associated to the radio was initially developed for the purpose of transmitting messages in coded format and the same can be termed as wireless telegraphy and found its usage in maritime and sea navigation and for defense purpose with messages being sent in Morse code format. Later it was found that the technology could also transmit human voice. With the discovery of modulation technology, the terms like AM and SW started making rounds and the whole new world of electronic media came into existence. A very simple step that began on December 16, 1907 with the broadcasting of a song by singer Eugenia H. Farrar from the Brooklyn Navy Yard has been the reason behind the very success of today's electronic media. It was Lee De Forest who had facilitated the broadcasting of song on a radio (FCC, 2005). ... The College radio became very popular among audiences in San Jose. In 1917, with the beginning of World War I with all resources being used for public broadcasting were diverted for defense use and public broadcasting saw a long halt. The radio transmission came under the purview of Navy and the two way telephony was given the importance. But things are actually going to begin rather than facing an abrupt end. The licensed radio broadcasting came into existence with Frank Conrad's company Westinghouse obtained the first commercial radio license and launched KDKA in November, 1920 (Adams, 2003). KDKA broadcasted the election results and the sold radios to the home users. Peace time usage of the broadcasting technology had arrived to make its first broad presence. The success of KDKA The KDKA era led to something which can be termed as the golden period of Radio based broadcasting services. May be for the first time in the history, the public was showing more interest to the product than the producers and this public sentiment gets visible with the unprecedented growth in the demand of radio receiving equipments and at the same time the Westinghouse Organization had to work for opening up other broadcasting stations. The company installed the most powerful broadcasting transmitter known as WSJ on the roof of its plant at Newark, N. J. and the same building roofed the studio (White, 2007). The studio was designed in such a way that it was sound proof equipped with several musical instruments. The studio was meant for artists basically single and players and speakers and news readers. The WSJ used to serve a region within a radius of

Apartheid Impact on African Women Essay Example | Topics and Well Written Essays - 1000 words

Apartheid Impact on African Women - Essay Example Life was so hard but challenging during those times that several documentaries and writings about the time have been made. Such would be the film "South Africa Belongs to us" which focuses on the plight of five women mainly on a wife left in the homelands, a nurse at a family planning clinic, a hospital cleaner who lives in a single-sex hotel, a leader of a squatter's camp and a domestic servant. The black servant in a house owned by whites cannot spend quality time with her children. Thus, separation did not just happen among people with different skin colors but among the members of their race, specifically with their own bloodlines. The same with other female migrant workers who were sort of imprisoned in their workplace as they were not allowed to visit their families. Through apartheid, women during that episode experienced misery while they were away with their loved ones, while some stood as single mothers because of the classification. One of the effects of apartheid then was the destruction of the black family and the existence of displaced families. There is this one woman who lives in one of the unproductive homelands with her more than a dozen children, because she was not allowed to be with her husband who was forced to live in Johannesburg for twenty years. Despite all these, the film depicts of women's battle cry to defy racism. Winnie Mandela, the former wife of Nelson Mandela and one of the women leaders who were interviewed in the movie, symbolizes women power. Among those who also bravely talked in front of the camera were Numisi Kjuzwayo, a young leader of the prohibited Black Consciousness Movement which was against apartheid and Fatimah Meer, an activist. All of these women never stopped opposing the apartheid system no matter what risked their life. A lot of what has done then contributes to what South Africa is at present, that it really belongs to its people. Another film, "Girls Apart" done in the year 1987, shows an interview with two sixteen year old girls, Sylvia who is from Soweto, a town of blackmen, the other is Siska, a rich white girl Johannesburg. Each told the story of their lives in South 3 Africa during the apartheid period, showing how their worlds were apart and that their lives were led according to their skin color. In the film, a picture of apartheid was demonstrated through the contrasts in the lives of the girls. Another documented story about the happenings in South Africa during the apartheid period is illustrated in the book "Not Either An Experimented Doll, The Separate Worlds of Three South African Women". The story is told through the exchange of letters between an Englishwoman named Mabel Palmer and a disturbed teenage girl Lily Moya, who wrote the book herself which was then edited by Shula Marks. Lily, an orphan, looks to Mabel as a mother she never had, pleading to let her go to school in her college. Mabel, on the other hand, gave in to her wish. In fact, she has contributed a lot to the education of South African women. There was this one time when she went out into the winter cold without a jacket just to pay Lily's matriculation. Here in this book, it seeks to show that during the apartheid period, there were still white people who had good hearts to blacks, although Mabel Palmer had a little limitation in her relationship with Lily for fear of the dictations of racial discrimination rules. The third

Non Controlling Interests And Goodwill Accounting Essay

Non Controlling Interests And Goodwill Accounting Essay Introduction IFRS 3 which involves Business Combinations will build important changes in business combinations accounting. IFRS 3 develops more the acquisition representation and applies to more day to day transactions, because combinations by contract only in addition to combinations of common entities are incorporated in the standard. Nevertheless, ordinary managed transactions and the development of joint ventures are not factored in the revised standard. IFRS 3 applies to the 1st period of accounting commencing on 1/07/09. Notably, retrospective appliance to previous business combinations isnt permitted. It can be used early as long as its not in the period of accounting commencing on or after 30/07/07. Background In 2008 the International Accounting Standards Board finished the 2nd stage of its Project on Business combinations by releasing a revised edition of IFRS 3 relating to Business Combinations. It was amended in order to replace the 2004 version. The revised IFRS 3 is the outcome of a combined project with the Financial Accounting Standards Board Scope Description of business combination . Its a occurrence of transactions whereby the purchaser gains power over 1 or many business entities. A business entity is described as an incorporated place of actions that is able to perform and operate in order to give a return to shareholders or other capital owners or any other participants in the business. The purchaser or the acquiring company ought to be recognized or identified. IFRS 3 stipulates that an acquirer must be acknowledged or identified in all cases involving business combinations. Variations in the scope from the 2004 version of IFRS 3 as compared to 2008 IFRS 3 version is used in combinations of joint business entities as well as combinations which do not have consideration for example dual listed company shares. Such are not included in unrevised IFRS. Exclusions from the scope: The IFRS 3 cannot be used in case of development of a joint venture or combination of business entity under common management or control. IFRS 3 cannot be used the purchase of an asset or a collection of assets which dont comprise a business entity. Purchase consideration Important changes to the standard involve the purchase consideration. Fair value of all benefits held formerly by the acquirer in the newly acquired company is currently incorporated in the consideration. This incorporates all interest in joint ventures undertaken and associate as well as equity interests in the newly acquired company. Any preceding venture is perceived to be given up in order to obtain the company/entity and on disposal date a gain or loss is taken into account. In case the acquirer previously had interest in the entity obtained prior to acquisition, IFRS3 stipulates that the current venture to be revalued to fair cost as at the acquisition date, factoring in all changes to the profit and loss account as well as any gains formerly documented in equity that pertain to the current holding structure. A gain is accepted in the income statement during the period of business combination. Contingent consideration requirements have been modified. Contingent consideration is nowadays accepted at fair value even in cases where its not likely to pay at the acquisition date. All ensuing modification to liability contingent consideration is taken to the income statement, instead of goodwill account because it is perceived to be a debt acknowledged in the international accounting standard 32/39. If debts for superior performance by the results in the subsidiary cause expenditure in the income statement to increase and under-performance by the subsidiary against targets will lead to a cutback in the anticipated payment and will be accounted as a profit in the statement of income. These changes in contingent consideration were formerly taken in the goodwill account. The standard no longer treats transaction costs as a component of the purchase cost; such overheads are expensed throughout the accounting period. Transaction costs are now considered not to constitute what is given to the party selling the entity. They arent supposed to be taken as assets of the acquired entity which ought to be acknowledged on the purchase date. The standard stipulates that businesses should reveal the quantity of transaction expenses that have been paid. IFRS 3 takes into consideration the treatment of employee share-based payments by including supplementary regulation on estimation, as well as how to come to a decision on whether share payments constitute part of the payment for future service compensation or business combination. Non-controlling interests and Goodwill IFRS3 provides businesses with an alternative, on an individual operation basis, to value minority interest or non controlling interest at fair value in relation to their share of particular liabilities and assets or at their fair value. The 2nd technique will consider goodwill relating to the non-controlling interest together with the controlling interest acquired while the 1st technique will lead to valuation of goodwill, which is essentially similar to the current IFRS Measurement of goodwill can also be undertaken using the full goodwill basis, in this method goodwill is measured for the minority interest/ non-controlling and also the controlling interest in a subsidiary. In the preceding edition of IFRS 3, non controlling interest was valued at their proportion of net assets and excluded any goodwill. Under the Full goodwill method it means that minority interest (non controlling interest) together with goodwill is increased by the value of goodwill that pertains to minority interest. Example Mercer has purchased a subsidiary company on 2 February 2008. The net assets fair value of the subsidiary company is $2,170million. Mercer purchased 70 percent of the total shares of the subsidiary company for $2,145million. The minority interest was measured at $683million. Goodwill recognized on the full and partial goodwill techniques under IFRS 3 would be computed as: Mercer partial goodwill method Assets (net) 2,170 Minority interest (Non Controlling Interest) (30% x 2,170) (651) Assets purchased 1,519 Consideration on acquisition (2,145) Goodwill amount 626 Full goodwill Method Fair value of identifiable net assets 2,170 Minority interest (683) Assets taken over 1,487 Consideration on Purchase (2,145) Goodwill amount 658 Goodwill is in actual fact adjusted for the variation in the figure of the minority interest which factors in the goodwill belonging to the non controlling interest. This preference of technique of accounting for non controlling interest only causes a disparity in acquisition figures where less than 100 percent of the entity obtained is bought. The full goodwill technique will cause an increase in net assets reported on the statement of financial position which means that any prospective goodwill impairment will be greater. While valuing non-controlling interest at reasonable cost may be complex, testing goodwill impairment may be less difficult in full goodwill, because there is no point of summing-up goodwill for subsidiary companies which are partially owned. Fair measurement of liabilities and Assets IFRS 3 has brought about some alterations to liabilities and assets documented in the statement of financial position. The present conditions to distinguish the net identifiable liabilities and assets of the entity being acquired are retained. Assets ought to be measured at fair value excluding some specific items for example pension liabilities and deferred tax. International accounting standard board has given supplementary regulations that are likely to lead to recognition of additional intangible assets. Purchasers are obliged to identify and record trade licenses, client relationships and brands, plus other assets classified as intangible. There are minor alterations to existing regulation under IFRS in relation to contingencies.. Following the business combination date, conditional liabilities are re-valued at the initial figure and the quantity in current relevant standard whichever is higher. Contingent assets are not identified or recorded, and contingent liabilities are valued at fair cost. Other Matters and Issues IFRS 3 gives direction on some precise details of combinations of entities such as : business combinations done with no reallocation of consideration acquisitions done in reverse identifying and recording assets which are intangible the re-examination of the purchasers contractual provisions at the date of acquisition Holding Companys Disposal or Acquisition of extra shares in Subsidiary Proportional sale or disposal of a subsidiary while still maintaining control. . This is treated as an equity exchange with shareholders as well as loss or gain not recoded. Proportional disposal of a subsidiary where control is lost. Losing controlling power on re valuing of the remaining fair value held. Disparity between carrying value and fair value is treated as a loss or gain on the disposal, recorded in the income statement. Afterwards, using international accounting standard 28 and 31 is suitable, to the outstanding investment. Purchase of extra shares after control of subsidiary was gained This is treated as a transaction involving equity with shareholders (such as purchase of shares in the treasury. Goodwill is not revalued in such an event. Disclosure The purchaser must reveal all relevant financial information to users of its annual reports to assess the financial outcome of a business combination that happens throughout the present reporting phase or subsequent to the end of the phase but before the reports are approved for issue. Disclosures necessary to meet the previous purpose are : A depiction and also the name of the purchaser Date of purchase proportion of voting interests purchased Principal s purpose of the business combination and a explanation of method used by the purchaser to acquire power over the seller Account of the reasons that show goodwill recorded, for example probable synergies from combining activities, and non qualifying assets. purchase-date fair cost of the combined consideration taken over and the purchase-date fair cost of every main category of consideration Particulars of dependent consideration provisions as well as indemnification assets taken over. Particulars of purchased receivables the value for all key category of assets purchased and debts implicit Particulars of contingent liabilities recorded. Combined value of goodwill that is anticipated to be removed for purposes of tax. Facts of all activities that take place individually from the purchase of assets and debts in business combination Facts concerning negative goodwill. In conclusion I believe that the speedy endorsement of IFRS 3 will end the doubt regarding the treatment of financial statements and reports. Hopefully the aims of the revised IFRS Board will be achieved and end the requirement for reconciliation between different accounting standards as well as end the conflicting use of the revised IFRS3 in the accounting profession . I look forward to the outcome caused by the implementation of the IFRS3 with interest!

So Long A Letter by Mariama Ba and Blood Wedding by Frederico Garcia Lo

"So Long A Letter" by Mariama Ba and "Blood Wedding" by Frederico Garcia Lorca Thesis: Characters that cause immense pain to another, especially to their consorts, succumb to death in the texts So Long A Letter and Blood Wedding by Mariama Bà ¢ and Federico Garcà ­a Lorca respectively. Death is one aspect of life that prevents a person from being invincible. It is one of the inevitable occurrences that a man has to yield to. In the texts So Long A Letter and Blood Wedding by Mariama Bà ¢ and Federico Garcà ­a Lorca respectively, death is a poignant theme that has prevailed throughout the course of the text. The question is whether the deaths of characters in these texts are deserved, and devised by the authors due to the immense pain dispensed by these characters to their consorts. Firstly, So Long A Letter by Mariama Bà ¢ which is a letter cum diary from Ramatoulaye to her best friend Aissatou depicts the series of events that have taken place in the past, mainly portraying the lamentation of three women (Ramatoulaye, Aissatou and Jacqueline) due to their husbands’ lack of commitment. Moreover, this text outlines the Senegalese way of living and how the Muslim society accepts polygamy readily. As we read the text, we are introduced to Modou Fall, the husband to Ramatoulaye, who died of an unknown cause. In my opinion, his death was destined due to the everlasting pain he dispensed to his wife. This is because of his â€Å"abrupt decision to take a second wife† and his abandonment of his family. This was a very appalling situation as Modou walked out on Ramatoulaye and his twelve children to go and improve relations with a girl the age of his daughter. Although he married her committing polygamy which was sanc... ...trated mood the Mother is in since she has lost all her family members now including her ultimate hope of survival: her son, the Bridegroom. Accordingly, I perceive that the Bridegroom deserved to die as he dispensed pain and grief not only to the Bride but also to his mother. All in all, we have seen that the statement ‘characters that cause immense pain to another, especially to their consorts, succumb to death’ is apt. Moreover, it can be learnt form this piece of work that the consequence of the action you perform will be commensurate to the intensity of that action. Therefore, Modou Fall, Leonardo and the Bridegroom all deserved to succumb to death. Last but not the least, it can be noted that all the characters that cause immense pain to others in both the texts are the male characters while the recipients of such pain are the female characters.

Cigarette Tax

Section 1: â€Å"Cigarette tax hike sparks panic buying† By Ashley Hall Updated Thu Apr 29, 2010 What is the main issue presented in the media report? Discuss what has actually happened: In the year of 2010, the Federal Government raised taxes on cigarettes by an extra 25 per cent, resulting in an increase price of $2. 16 to every pack of 30 cigarettes. A proclamation stated by Prime Minister Kevin Rudd on the crackdown on Internet advertising of cigarettes was mentioned. Mr. Rudd also affirmed ‘the government will spend $27. million on an anti-smoking campaign (Hall, 2010) This media report outlines the publics impulsive buying of cigarettes upon the government’s mention of the very rapid increase in taxes, thus resulting in an upward increase in price. It mentions the dismays retailers and tobacconists faced due to the tax hike. Further more, mentioning the concerns of philanthropists and other individuals. Highlight the reason for the issue being raised: This i ssue was one that arose quite soon after its announcement, as it impacted the country in its majority in numerous ways. The justification behind this issue was the government’s lack of planning. The release of the tax hike occurred only several hours before its prospected start of midnight that night, which ultimately left little or possibly even no time to adjust and prepare for the subsequent price increase. (Hall, 2010) Outline what possible impacts this change could have: The unexpected change posed many impacts on an abundant area of the population. The change impacted the consumers (smokers), the suppliers/producers, retailers/tobacconists, charity workers and the government. The sudden publication of the price increase would lead to a majority of smokers purchasing larger amounts of cigarettes than usual, in an attempt to purchase the product at a cheaper price rather than at its increased price. The retailers/tobacconists face the prospects of higher demands and physical impossibilities such as lack of stock and time to prepare. Although on the contrary as stated by the executive director of Quit Victoria â€Å"100,000 people will quit smoking as the result of the price increase and 250,000 children will not take up the habit†. (Hall, 2010) From another viewpoint, the rapid increase in tax had an immediate negative impact on the number of people seeking assistance. This is solely the case, as a widely held proportion of smokers come from low-income groups, â€Å"In fact, people from low-income groups are 13 times more likely to quit smoking in the face of a prime increase than those from higher income groups†. (Hall, 2010) Who are the key stakeholders that are impacted by the issue outlined in the report? The key groups that may be impacted by the issues raised in this report are ultimately the key stakeholders; i. e. he customers, suppliers, regulators and competitors. The customers (smokers) are faced with the increased price on packets of cigarettes. Which ultimately puts an excise burden on consumer’s income. The suppliers were faced with a rapid increase in demand in the hours before the implementation of the tax increase, and perpetual demand between the periods after the tax. This is due to the noti on that smokers are not willing to go cold turkey over night simply due to an increase of $2. 16, but ultimately the possible immediate decline in number of packets bought/sold in the event prior to the tax increase. Suppliers are also faced with the concern of consumers opting for substitute goods (This means a good's demand is increased when the price of another good is increased) for example replacing cigarettes with chewing gum (even considering that cigarettes are inelastic). (McTaggart, 2010) Regulators, which in this case are the Government, are faced with constant scrutiny regarding their decisions and lack of planning. However, this tax hike increased an extra $5 billion over four years, which the Government would put towards its health and hospitals overhaul (Hall, 2010). So evidently, back into the economy. An increase in people seeking assistance will also place possible strains on charity workers, as people will continue to spend money on cigarettes rather than necessities. Competitors are also faced with a possible increase in demand, as the price of one good is increased, the demand of the substitute good is increased (McTaggart, 2010). Students and groups of people from low socioeconomic status will be directly affected the greatest. For those who come from high-income classes, their wages are generally increasing as the 25 per-cent increment is implemented, which ultimately does not substantially affect their income as a whole. However, students and people from low socioeconomic status groups are giving up necessities of life to feed their smoking addictions. What economic theories can be dawn from this media report? Opportunity cost: Graph 1: The theory of Opportunity cost (Graph 1): the amount of other products that must be sacrificed to obtain an extra unit of any product. The opportunity cost refers to the benefit forgone from the best alternative use of resources. (McTaggart, 2010) As the economy moves from point B towards point C, it must give up successively larger amounts of good B to obtain the same equal increment in good C (Layton, 2009). In relation to cigarette tax, people from lower income groups are giving up the necessities in order to feed their smoking addiction. Demand, Supply and Elasticity: Graph 2: The demand for cigarettes increased during the period of the government’s announcement and until midnight when the price increase was implemented: i. e. a change in consumer’s expectations about future prices brings forward an increase in consumption. (McTaggart, 2010) Graph 3: Change in demand is where the demand has shifted to the left hand side. Rise in price will see a greater quantity supplied (quantity will rise), shift in supply curve. McTaggart, 2010), (Layton, 2009). From midnight the equilibrium shifted to the left side along the demand curve by the price increase. As the result, as it was mentioned above, the quantities demanded decreased, due to the tax increase. Result in consumer and producer paying the burden of the tax increase. (McTaggart, 2010) Section 2: â€Å"Apple Shares hit as iPhone sales Fall Short† Sky News Oct 19, 2011 What is the main issue presented in the media report? Apple, one of the leading technological companies in the world has recorded revenues uncharacteristically short of expectations. Wall street analysts predicted iPhone sales during their fourth quarter earnings to be ’20 million sales’, with a short fall of ’17 million sold’. With overall revenues recorded at $28. 3 billion, substantially short of expectations (Sky News, 2011). Apple new chief executive ‘Tim Cook’ does not seem concerned about the recorded short fall of the company since the passing of Co-founder Steve Jobs. Recorded losses in revenue for Apple fourth quarter could be significantly the result of many factors (Sky News, 2011). The main contributing factor, being the short after release of the iPhone 4s. Due to the release of the iPhone 4s, consumers were withholding from purchasing older models of the iPhone, with the thought ‘I would rather wait a litter longer to purchase a new and updated version’. Ultimately the thought of consumers’ posses’ greater opportunity for Apple sales in the future but resulted in revenue falling short in their fourth quarter. The recorded revenue had a negative impact on the company. With the actual versus predicted sales of the iPhone falling short, Apple shared dropped 5% upon the announcement (Sky News, 2011). A drop in share price negatively affected the company, especially since a drop in share price has now only occurred since the passing of co-founder Steve Jobs. A drop in share price could result in consumers questioning whether they should continue to purchase Apple products, or if the drop in share price is a signaling factor that there is a higher demand for substitute goods. This could be the case as many other leading technological companies are constantly trying to innovate new and improve models of phones, laptops and tablets to keep up with Apples constant improvements. For example Samsung release of their new tablet caused large amounts of disputes between themselves and Apple, as Apple saw a large opportunity for threat to sales of their iPad. Although this is the case, the new iPhone 4s has sky rocketing sales of four million in its first three days on the market. As new chief executive ‘Tim Cook’ said: â€Å"customer response to iPhone 4s has been fantastic, we have momentum going into the holiday season, and we remain really enthusiastic about our product pipeline. † (Sky News, 2011). Who are the key stakeholders that are impacted by the issue outlined in the report? The key groups that may be impacted by the issues raised in this report are ultimately the key stakeholders; i. e. the customers, suppliers, shareholders and competitors. The customers are ultimately those who predict they continuing success of the company, without customer sales Apple would not exist. The hit of Apple shares could negatively impact consumer sales. A decline in the share price could signal a train of though in consumers mind that possibly there is a need for greater innovative or the threat of higher competitors in regards to Apple products. If consumers are being told that a company is recording predicted short falls in their expected revenue consumer might be apposed to their products, resulting in customers opting for substitute goods. (McTaggart, 2010) The suppliers in this report are in fact Apple and all other retailers that stock Apple products. The short fall of iPhone sales resulted in a decrease in revenue. Which ultimately lead to a decrease in the price of Apple shares. A decrease in share price could lead to a decline in possible sales, which results in a supplier surplus. Suppliers have a greater number of products to sell in relating to consumers who are interested in buying their product (McTaggart, 2010). In the event of the release of the iPhone 4s, suppliers are faced with higher consumer demand, which could result in a shortage of iPhone 4s in relation to consumer demands. Apples brand name and reputation is a very important asset to the company, with this issue being raised, it could have an impact on one of their largest assets. Shareholders, are those individuals or companies who have financially invested an interest in Apple, a decrease in share price negatively impacts shareholders. Decline in the share price by 5% results in a decrease in the value of shareholders wealth. The final group that is impacted by issues of a decline in Apples share price is competitors. This could have a positive impact to competitors. Negative public announcement over such a large and dominant company could result in a substantial amount of consumers opting to purchase products competitors offer, simply due to the decisions of other individuals. A consistent pattern in the public shows, that if a product is negatively represented in more than one way consumers will be very reluctant to purchase that product. Resulting in a positive advantage for competitor’s products. The group that would be impacted the most would be the suppliers. They are the key foundation of the company, without continued success the company could face greater hardships and decline in sales leading to a decline in revenue and share price as which occurred in the month of October 2011. What economic theories can be drawn from this media report? Supply and Demand: Graph 1: Demand curve during period of Apple reporting shortfall of sales and decreased revenue in recording during their fourth quarter. The graph above is a representation of changes in demand. Apple change in demand during this period is caused by consumer expectations, tastes and preferences. Where the soon to be released iPhone 4s resulted in the decrease of current iPhone sales. (McTaggart, 2010), (Layton, 2009). Graph 2: The Above graph is a representation of the supply and demand curve during the first release of the iPhone 4s. The supple curve remains constant (from period before and after the release of the iPhone 4s). Where significant changes occurred in relationship to the demand curve. The increase in demand which resulted in a right ward shift of the demand curve was a direct result of ‘taste or preferences of consumers’ a key determinant in the changes in demand (Layton, 2009). This was the case as consumers withheld from purchasing older models of the iPhone with anticipation of purchasing the newer and improved version of the iPhone (iPhone 4s). This resulted in Apple experiencing greater quantities demanded as stated in the article â€Å"iPhone 4s has sky rocketing sales of four million in its first three days on the market†. Change in demand results in change in new equilibrium (Sky News, 2011). References: McTaggart, D. , Findlay, C. , and Parkin, M. (2010), Economics, Sixth Edition, Addison-Wesley, Sydney Lecture Slides, Blackboard, University of Technology, Sydney, Insearch (2011), Economics for Business Unknown. 2011, ‘Apple shares hit as iPhone sales fall Short’, Sky News, YAHOO, viewed 4 November 2011, http://news. yahoo. com/apple-earnings-hit-drop-iphone-sales-220800212. html Layton, A. , T. Robinson and I. Tucker (2009), Economics for Today, Cengage Learning Australia, Australia: South Melbourne. Faculty of Business (2010), Guide to Writing Assignments (3rd ed. ), Faculty of Business, University of Technology, Sydney

Ecotopia essays

Ecotopia essays Ecotopia, a novel written by Ernest Callenbach in 1975, brings many new economically wonderful ideas to the minds of its readers. The ideas that are presented in this book are amazing, and allows its readers to think in an entirely new way of the world that surrounds us. At first this book is slow and hard to get into, but as it continues, it begins to bring insight to your thoughts and your imagination runs wild with ideas of the way life could really be. The main character is a man named William Weston. He is a middle-aged man from New York City. He is a reporter for the New York Times-Post. As the novel begins we learn that he has been assigned to a special six-week mission. He is to travel to a land called Ecotopia, and report on the living conditions and the way of live for the Ecotopians. This sounds easy right? Well, not exactly. Ecotopia is not like any other nation on Earth. It was founded when northern California, Oregon and Washington separated from the United States to create their own union. A place that is economically perfect. William is the first American in twenty-years that has been allowed to enter into this territory. He does not realize the extent of what he is getting into when he agrees to this job assignment. While William is on the airplane on his way to Ecotopia he begins to write his first journal entry. In this entry he tells about his life. We learn that he a father and a husband. He writes how is becomes harder to say goodbye to the children as he leaves for assignments, however, then he states that even when he is around he sometimes neglects spend time with them. There is no reason to feel sorry for him after reading this. He also mentions a woman named Francine. This is not his wife, as we already learned that her name was Pat. This may be his mistress or possibly he is divorced to Pat and Francine is his new girlfriend. Callenbach, the author, makes this unclear. After he gets off his plan...

Cashflow statement Essay Example

Cashflow statement Essay Example Cashflow statement Essay Cashflow statement Essay Questions, Exercises, and Problems: Answers and Solutions 1. 1The first question at the end of each chapter asks the student to review the important terms and concepts discussed in the chapter. Students may wish to consult the glossary at the end of the book in addition to the definitions and discussions in the chapter. 1. 2Setting Goals and Strategies: Although a charitable organization must obtain sufficient resources to fund its operations, it would not pursue profits or wealth increases as goals. A charitable organization would direct its efforts toward providing services to its constituencies. Financing: A charitable organization may obtain some or all of its financing from donations (contributions). A charitable organization does not issue common stock or other forms of shareholders’ equity, nor does it have retained earnings. Investing: Similar to business firms, charitable organizations acquire productive capacity (for example, buildings) to carry out their activities. Operations: A charitable organization might prepare financial statements that compare inflows (for example, contributions) with outflows. While these statements might appear similar to income statements, there would be no calculation of net income because the purpose of the charitable organization is to provide services to its constituents, not seek profits. 1. 3The balance sheet shows assets, liabilities and shareholders’ equity as of a specific date (the balance sheet date), similar to a snapshot. The ncome statement and statement of cash flows report changes in assets and liabilities over a period of time, similar to a motion picture. 1. 4The auditor evaluates the accounting system, including its ability to record transactions properly and its operational effectiveness, and also determines whether the financial reports prepared by the firm’s managers conform to the requirements of the applicable authoritative guidance. The auditor provides an audit opinion that refle cts his professional conclusions. For most publicly traded firms in the U. S. the auditor also provides a sepa- 1. 4 continued. rate opinion on the effectiveness of the firm’s internal controls over financial reporting. 1. 5Management, under the oversight of the firm’s governing board, prepares the financial statements. 1. 6Employees and suppliers of goods such as raw materials or merchandise often provide the services or goods before they are paid. The firm has the benefit of consuming or using the goods or services before it transfers cash to the employees and suppliers. The length of the financing period is the number of days between when the employees and suppliers provide goods and services and when the firm pays cash to those employees and suppliers. 1. 7Accounts receivable represent amounts owed by customers for goods and services they have already received. The customer, therefore, has the benefit of the goods and services before it pays cash. The length of the financing period is the number of days between when the customer receives the goods and services and when the customer pays cash to the seller of those goods and services. . 8Both kinds of capacity represent investments in long-lived assets, with useful lives (or service lives) that can extend for several or many years. They differ in that land, buildings, and equipment represent physical capital, while patents and licenses represent intangible or intellectual capital. 1. 9A calendar year ends on December 31. A fiscal year ends on a date that is determined by the firm, perhaps based on i ts business model (for example, many retailers choose a fiscal year end that is close to the end of January). A firm can choose the calendar year as its fiscal year, and many do. Both calendar years and fiscal years have 12 months. 1. 10Most firms report the amounts in their financial statements using the currency of the country where they are incorporated and conduct most of their business activities. Some firms use a different currency. 1. 11A current item is expected to result in a cash receipt (assets such as accounts receivable) or a cash payment (liabilities such as accounts payable) within approximately one year or less. A noncurrent item is expected to generate cash over periods longer than a year (assets, such as factory buildings that will be used to produce goods for sale over many years) or use cash over periods longer than a year (liabilities such as long term debt). Users of financial statements would likely be interested in this distinction because the distinction provides information about short term cash flows separately from long term cash flows). 1. 12Historical amounts reflect the amounts at which items entered the firm’s balance sheet, for example, the acquisition cost of inventory. Historical amounts reflect economic conditions at the time the firm obtained assets or obtained financing. Current amounts reflect values at the balance sheet date, so they reflect current economic conditions. For example, the historical amount for inventory is the amount the firm paid to obtain the inventory and the current amount for inventory is the amount for which the firm could sell the inventory today. 1. 13An income statement connects two successive balance sheets through its effect on retained earnings. Net income that is not paid to shareholders as dividends increases retained earnings. A statement of cash flows connects two successive balance sheets because it explains the change in cash (a balance sheet account) from operating, financing, and investing activities. The statement of cash flows also shows the relation between net income and cash flows from operations, and changes in assets and liabilities that involve cash flows. 1. 14The U. S. Securities and Exchange Commission (SEC) is the government agency that enforces the securities laws of the U. S. , including those that apply to financial reporting. The Financial Accounting Standards Board (FASB) is the private-sector financial accounting standard setter in the U. S. The International Accounting Standards Board (IASB) is a private- sector financial accounting standard setter that promulgates accounting standards that are required or permitted to be used in over 100 countries. Neither the FASB nor the IASB has any enforcement powers. 1. 15U. S. GAAP must be used by U. S. SEC registrants and may be used by other firms as well. International Financial Reporting Standards (IFRS) may be used by non-U. S. firms that list and trade their securities in the U. S, and these firms may also use U. S. GAAP. 1. 16The purpose of the conceptual framework developed by the Financial Accounting Standards Board (FASB) is to guide the standard setting decisions of the FASB. For example, the conceptual framework specifies the purpose of financial reporting, and the qualitative characteristics of financial information that would serve that purpose. FASB board members use this conceptual structure as they consider solutions to accounting issues. 1. 17The accrual basis of accounting is based on assets and liabilities, not on cash receipts and disbursements. It provides a better basis for measuring performance because it is based on revenues (inflows of assets from customers) not cash receipts from customers, and on expenses (outflows of assets from generating revenues) not cash payments. It matches revenues with the costs associated with earning those revenues and is not sensitive to the timing of expenditures. 1. 18(Colgate Palmolive Company; understanding the balance sheet. ) a. Property, plant and equipment, net = $3,015. 2 million. b. Noncurrent assets = $6,493. 5 (= $3,015. 2 + $2,272. 0 + $844. 8 + $361. 5). c. Long-term debt = $3,221. million. d. Current assets – Current liabilities = $3,618. 5 – $3,162. 7 = $455. 8 million. e. Yes, Colgate has been profitable since its inception. We know this because its Retained Earnings, of $10,627. 5 million, is positive. Colgate may have had a loss in one or more prior years; cumulatively, it has had positive income. f. Total Liabilities/Total Assets = $7,825. 8/$10,112. 0 = 77 . 4%. g. Total Assets = Total Liabilities + Shareholders’ Equity $10,112. 0=$7,825. 8+$2,286. 2 1. 19(Mayr Melnhof Karton; understanding the income statement. ) a. Cost of Goods Sold = (1,331,292. 1 thousand. b. Selling and distribution expenses = (172,033. 4 thousand. c. Gross margin percentage = 23. 4% (= (405,667. 1/(1,736,959. 2). d. Operating profit = (169,418. 2 thousand. Profit before tax = (170,863. 9 thousand. Difference equals (1,445. 7 thousand (= (169,418. 2 – (170,863. 9). The items comprising this difference are sources of income (expense) of a nonoperating nature for Mayr Melnhof. e. Effective tax rate = (54,289. 9/(170,863. 9 = 31. 8%. f. Profit = (116,574. 0 thousand. 1. 20(Bed, Bath and Beyond, Inc. ; understanding the statement of cash flows. ) a. Cash inflow from operating activities = $614,536 thousand. . Cash inflow from investing activities = $101,698 thousand 1. 20 continued. c. Cash inflow used in financing activities = $705,531 thousand. d. Net cash flow equals $10,703 thousand (= $614,536 + $101,698 – $705,531). e. Change in cash balance equals $10,703 thousand (= $224,084 – $213,381). The increase was attributable to the net cash inflow during the year of the same amount, $10,703 thousand. 1. 21(Alcatel-Lucent; balance sheet relations. ) (Amounts in Millions) Share- CurrentNoncurrentCurrentNoncurrentholders’ Assets+Assets=Liabilities+Liabilities+Equity (20,000+(29,402=(15,849+? (17,154 Noncurrent liabilities total (16,399 million. 1. 22(Gold Fields Limited; balance sheet relations. ) (Amount in Millions of Rand) Share- CurrentNoncurrentCurrentNoncurrentholders’ Assets+Assets=Liabilities+Liabilities+Equity R6,085. 1+R49,329. 8=R4,360. 1+R13,948. 4+? Shareholders’ Equity totals R37,106. 4 million. 1. 23(Rolls Royce Group Plc. ; income statement relations. ) Sales? 7,435 Less Cost of Sales(6,003) Gross Margin? 1,432 Less Other Operating Expenses(918) Loss on Sale of Business(2) Net Financing Income221 Profit before Taxes? 733 Less Tax Expense(133) Net Income? 600 1. 4(General Motors Corporation; income statement relations. ) Sales$207,349 Cost of Sales(164,682) Other Operating Expenses(50,335) Net Finan cing Income5,690 Net Loss$(1,978) 1. 25(Gold Fields; retained earnings relations) (Amounts in Millions of Rand) RetainedRetained Earnings NetDividendsEarnings at End ofIncomeDeclared=at End of 2006+for 2007–for 20072007 R4,640. 9+R2,362. 5–? =R5,872. 4 Dividends declared during 2007 totaled R1,131. 0 million. 1. 26(Sterlite Industries; retained earnings relations. ) (Amounts in Millions of Rupees) RetainedRetained Earnings NetDividendsEarnings March 31,IncomeDeclared=March 31, 006+for 2006–for 20062007 Rs26,575+? –Rs3,544=Rs70,463 Net income for the year ended March 31, 2007 (fiscal 2006) was Rs47,432 million. 1. 27(Target Corporation; cash flow relations. ) (Amounts in Millions) Cash atCash FlowCash FlowCash FlowCash at Feb. 3,fromfromfromFeb. 2, 2007+Operations+Investing+Financing=2008 $813+$4,125+$(6,195)+$3,707=? Cash balance at February 3, 2008 = $2,450 million. 1. 28(Edeneor S. A. ; cash flow relations. ) (Amounts in Millions) Cash atCash FlowCash F lowCash FlowCash at End offromfromfromEnd of 2006+Operations+Investing+Financing=2007 Ps32,673+Ps427,182+? +Ps(21,806)=Ps101,198 The net cash outflow for investing for 2007 = Ps(336,851) million. 1. 29(Kenton Limited; preparation of simple balance sheet; current and noncurrent classifications. ) January 31, 2008 Assets Cash? 2,000 Inventory12,000 Prepaid Rent24,000 Total Current Assets? 38,000 Prepaid Rent? 24,000 Total Noncurrent Assets? 24,000 Total Assets? 62,000 Liabilities and Shareholders’ Equity Accounts Payable? 12,000 Total Current Liabilities? 12,000 Total Noncurrent Liabilities Total Liabilities? 12,000 Common Stock? 50,000 Total Shareholders’ Equity? 50,000 Total Liabilities and Shareholders’ Equity? 62,000 1. 0(Heckle Group; preparation of simple balance sheet; current and noncurrent classifications. ) June 30, 2008 Assets Cash(720,000 Total Current Assets(720,000 Property, Plant and Equipment(600,000 Patent120,000 Total Noncurrent Assets(720,000 Total Assets(1,440,000 Liabilities and Shareholders’ Equity Accounts Payable(120,000 Total Current Liabilities(120,000 Note P ayable(400,000 Total Noncurrent Liabilities(400,000 Total Liabilities(520,000 Common Stock(920,000 Total Shareholders’ Equity(920,000 Total Liabilities and Shareholders’ Equity(1,440,000 1. 31Boeing Company; accrual versus cash basis of accounting. a. Net Income = Sales Revenue – Expenses = $66,387 million– $62,313 million = $4,074 million. Net Cash Flow = Cash Inflows– Cash Outflows = $65,995 million– $56,411 million = $9,584 million. b. Cash collections may exceed revenues for at least two reasons. First, Boeing may have collected in 2007 on customer credit sales made in 2006. Second, Boeing may have collected cash from customers in advance of providing them with goods and services. c. Cash payments may be less than expenses for at least two reasons. First, Boeing may have received goods and services from suppliers, but not yet paid for those items (i. e. the amounts are to be paid in the next year). Second, Boeing may have accrued expense s in 2007 that will be paid in cash in future periods; an example would be the accrual of interest expense on a bond that will be paid the next year. 1. 32(Fonterra Cooperative Group Limited; accrual versus cash basis of accounting. ) Calculation of net income for the year ended May 31, 2007: May 31, 2007 Revenue$13,882 Cost of Goods Sold(11,671) Interest and Other Expenses(2,113) Income before Taxes$98 Tax Expense$(67) Net Income$31 Calculation of net cash flow for the year ended May 31, 2007: May 31, 2007 Cash Receipts from Customers$13,882 Miscellaneous Cash Receipts102 Total Cash Receipts$13,996 Cash Payments to Employees and Creditors$(5,947) Cash Payments to Milk Suppliers(6,261) Cash Payments for Interest Costs(402) Cash Payments for Taxes(64) Total Cash Payments$(12,674) Net Cash Flow$1,322 1. 33(Dragon Group International Limited; balance sheet relations. ) (Amounts in Millions) The missing items appear in boldface type below. 20072006 Assets Current Assets$170,879$170,234 Noncurrent Assets28,94517,368 Total Assets$199,824$187,602 Liabilities and Shareholders Equity Current Liabilities$139,941$126,853 Noncurrent Liabilities7,0107,028 Total Liabilities$146,951$133,881 Shareholders Equity$52,873$53,721 Total Liabilities and Shareholders Equity$199,824$187,602 1. 34(Lenovo Group, Inc. ; balance sheet relations. ) The missing items appear in boldface type below. 20082007 Assets Current Assets$4,705,366$3,062,449 Noncurrent Assets2,494,4812,388,389 Total Assets$7,199,847$5,450,838 Liabilities and Shareholders Equity Current Liabilities$4,488,461$3,527,504 Noncurrent Liabilities1,098,123789,058 Total Liabilities$5,586,584$4,316,562 Shareholders Equity$1,613,263$1,134,276 Total Liabilities and Shareholders Equity$7,199,847$5,450,838 1. 5(Colgate Palmolive Company; income statement relations. ) The missing items appear in boldface type below. 200720062005 Sales$13,790$12,238$11,397 Cost of Goods Sold(6,042)(5,536)(5,192) Selling and Administrative Expenses(4,973)(4,355)(3,921) Other (Income) Expense(121)(186)(69) Interest Expense, Net(157)(159)(136) Income Tax Expense(759)(648)(728) Net Income$1,738$1,354$1,351 1. 36(Pol o Ralph Lauren; income statement relations. ) (Amounts in Millions) The missing items appear in boldface type below. 200720062005 Net Revenues$4,295. 4$3,746. 3$3,305. 4 Cost of Goods Sold(1,959. 2)(1,723. 9)(1,620. ) Selling and Administrative Expenses(1,663. 4)(1,476. 9)(1,377. 6) Operating Income$672. 8$545. 5$306. 9 Other Income (Expense)(34. 0)(43. 8)(2. 7) Interest Income (Expense), Net4. 51. 2(6. 4) Income Tax Expense(242. 4)(194. 9)(107. 4) Net Income$400. 9$308. 0$190. 4 1. 37(Ericsson; statement of cash flows relations. ) ERICSSON Statement of Cash Flows (Amounts in SEK Millions) 2007 20062005 Operations: Revenues, Net of ExpensesSEK19,210SEK18,489SEK16,669 Cash Flow from OperationsSEK19,210SEK18,489SEK16,669 Investing: Acquisition of Property and EquipmentSEK(4,319)SEK(3,827)SEK(3,365) Acquisition of Businesses(26,292)(18,078)(1,210) Sale Property and Equipment152185362 Sale of Short-Term Invest- ments3,4996,1806,375 Other Investing Activities(573)663(1,131) Cash Flow from InvestingSEK(27,533)SEK(14,877)SEK1,031 Financing: Proceeds from BorrowingsSEK15,587SEK1,290SEK657 Repayment of Borrowings(1,291)(9,510)(2,784) Sale of Common Stock94124174 Dividends Paid(8,132)(7,343)(4,133) Other Financing Activities40658(288) Cash Flow from FinancingSEK6,664SEK(15,381)SEK(6,374) Change in CashSEK(1,659)SEK(11,769)SEK11,326 Cash, Beginning of Year29,96941,73830,412 Cash, End of YearSEK28,310SEK29,969SEK41,738 1. 38(Jackson Corporation; statement of cash flows relations. ) JACKSON CORPORATION Statement of Cash Flows (Amounts in Millions) 2008 20072006 Operations: Revenues Increasing Cash$19,536$19,083$17,233 Expenses Decreasing Cash(16,394)(18,541)(18,344) Cash Flow from Operations$3,142$542$(1,111) Investing: Sale of Property, Plant and Equipment$332$401$220 Acquisition of Property, Plant and Equipment(3,678)(3,640)(1,881) Other Investing Transactions71(1,501)268 Cash Flow from Investing$(3,275)$(4,740)$(1,393) Financing: Proceeds of Long-Term Borrow- ng$836$5,096$3,190 Issue of Common Stock67373 Repayments of Long-Term Debt(766)(922)(687) Cash Flow from Financing$137$4,211$2,506 Change in Cash$4$13$2 Cash, Beginning of Year117104102 Cash, End of Year$121$117$104 1. 39(JetAway Airlines; preparing a balance sheet and an income statement. ) a. JETAWAY AIRLINES Balance Sheet (Amounts in Thousands) Sept. 30,Sept. 30, 20082007 Assets Cash$378,511$41 8,819 Accounts Receivable88,79973,448 Inventories50,03565,152 Other Current Assets56,81073,586 Total Current Assets$574,155$631,005 Property, Plant and Equipment (Net)4,137,6105,008,166 Other Noncurrent Assets4,23112,942 Total Assets$4,715,996$5,652,113 1. 39 a. continued. Liabilities and Shareholders Equity Accounts Payable$157,415$156,755 Current Maturities of Long-Term Debt11,9967,873 Other Current Liabilities681,242795,838 Total Current Liabilities$850,653$960,466 Long-Term Debt623,309871,717 Other Noncurrent Liabilities844,116984,142 Total Liabilities$2,318,078$2,816,325 Common Stock$352,943$449,934 Retained Earnings2,044,9752,385,854 Total Shareholders Equity$2,397,918$2,835,788 Total Liabilities and Shareholders Equity$4,715,996$5,652,113 b. JETAWAY AIRLINES Income Statement (Amounts in Thousands) For the Year Ended: Sept. 30, 2008 Sales$4,735,587 Salaries and Benefits Expense(1,455,237) Fuel Expense(892,415) Maintenance Expense(767,606) Other Operating Expenses(1,938,753) Interest Expense(22,883) Interest Income14,918 Net Income$(326,389) c. Retained Earnings, September 30, 2007$2,385,854 Plus Net Loss for 2008(326,389) Less Dividends Declared during 2008 (Plug)(15,390) Retained Earnings, September 30, 2008$2,044,075 1. 40(Block’s Tax and Bookkeeping Services; cash versus accrual basis accounting. ) a. Income for July, 2008: (1)Cash Basis Accounting Sales Revenues$13,000 Rent (Office)(6,000) Rent Equipment(12,000) Office Supplies Expense(370) Income (Loss)$(5,370) 1. 40 a. continued. (2)Accrual Basis Accounting Sales Revenues$44,000 Rent (Office)(2,000) Rent (Equipment)(2,000) Salaries Expense(6,000) Office Supplies Expense(90) Interest Expense(133) Income (Loss)$33,777 b. Cash on Hand: Beginning Balance, July 1$0 Financing Sources and (Uses): Jack Block Share Purchase40,000 Bank Loan20,000 Total Financing Sources$60,000 Operating Sources and (Uses): Cash Collected from Customers$13,000 Office Rent(6,000) Equipment Rental(12,000) Office Supplies Expense(370) Net Operating Uses$(5,370) Ending Balance, July 31$54,630 The ending balance in cash contains the effects of both operating activities, which have net cash flow of $(5,370) and financing activities, which have net cash flow of $60,000. The firm is financing its operating activities with a bank loan and with funds invested by its owner; both of these sources of funds represent claims on the firm’s assets, not increases in net assets. 1. 41(Stationery Plus; cash basis versus accrual basis accounting. ) a. Income for November, 2008: (1)Cash Basis Accounting Sales$23,000 Cost of Merchandise(20,000) Rent(9,000) Salaries(10,000) Utilities(480) Income (Loss)$(16,480) 1. 41 a. continued. (2)Accrual Basis Accounting Sales$56,000 Cost of Merchandise(29,000) Rent(1,500) Salaries(10,000) Utilities(480) Interest(1,000) Income (Loss)$14,020 b. Income for December, 2008: (1)Cash Basis Accounting Sales Made in November, Collected in December$33,000 Sales Made and Collected in December34,000 Cost of Merchandise Acquired in November and Paid in December(20,000) Cost of Merchandise Acquired and Paid in December(27,500) Salaries(10,000) Utilities(480) Interest(2,000) Income (Loss)$7,020 (2)Accrual Basis Accounting Sales$62,000 Cost of Merchandise(33,600) Rent(1,500) Salaries(10,000) Utilities(480) Interest(1,000) Income (Loss)$15,420 1. 42(ABC Company; relation between net income and cash flows. ) a. [pic] January$875$1,000$750$1,125 February1,1251,0001,500625 March6251,5001,875250 April2502,0002,2500 1. 42 continued. b. The cash flow problem arises because of a lag between cash expenditures incurred in producing goods and cash collections from customers once the firm sells those goods. For example, cash expenditures during February ($1,500) are for goods produced during February and sold during March. Cash is not collected from customers on these sales, however, until April ($2,000). A growing firm must generally produce more units than it sells during a period if it is to have sufficient quantities of inventory on hand for future sales. The cash needed for this higher level of production may well exceed the cash received from the prior periods sales. Thus, a cash shortage develops. The difference between the selling price of goods sold and the cost of those goods equals net income for the period. As long as selling prices exceed the cost of the goods, a positive net income results. As the number of units sold increases, net income increases. A firm does not necessarily recognize revenues and expenses in the same period as the related cash receipts and expenditures. Thus, cash decreases, even though net income increases. c The income statement and statement of cash flows provide information about the profitability and liquidity, respectively, of a firm during a period. The fact that net income and cash flows can move in opposite directions highlights the need for information from both statements. A firm without sufficient cash will not survive, even if it perates profitably. The balance sheet indicates a firms asset and equity position at a moment in time. The deteriorating cash position is evident from the listing of assets at the beginning of each month. Examining the cash receipts and disbursements during each month, however, identifies the reasons for the deterioration. d. Strategies for dealing with the cash flow problem center around (a) reducing the lag b etween cash outflows to produce widgets and cash inflows from their sale, and (b) increasing the margin between selling prices and production costs. To reduce the lag on collection of accounts receivable, ABC might: (1)Provide to customers an incentive to pay faster than 30 days, such as offering a discount if customers pay more quickly or charge interest if customers delay payment. (2)Use the accounts receivable as a basis for external financing, such as borrowing from a bank and using the receivables as collateral or selling (factoring) the receivables for immediate cash. (3)Sell only for cash, although competition may preclude this alternative. To delay the payment for widgets, ABC might: 1. 42 d. continued. ) Delay paying its suppliers (increases accounts payable) or borrow from a bank using the inventory as collateral (increases bank loan payable). 2) Reduce the holding period for inventories by instituting a just-in-time inventory system. This alternative requires ordering raw materials only when needed in production and manufacturing widgets only to customer orders. Demand appears to be sufficiently predictable so that opp ortunities for a just-in-time inventory system seem attractive. To increase the margin between selling price and manufacturing cost, ABC might: 1)Negotiate a lower purchase price with suppliers of raw materials. (2)Substitute more efficient manufacturing equipment for work now done by employees. (3)Increase selling prices. The cash flow problem is short-term because it will neutralize itself by June. This neutralization occurs because the growth rate in sales is declining (500 additional units sold on top of an ever-increasing sales base). Thus, the firm needs a short-term solution to the cash flow problem. If the growth rate were steady or increasing, ABC might consider obtaining a more permanent source of cash, such as issuing long-term debt or common stock. . 43(Balance sheet and income statement relations. ) a. Bushels of wheat are the most convenient in this case with the given information. This question emphasizes the need for a common measuring unit. 1. 43 continued. b. IVAN AND IGOR Comparative Balance Sheets (Amounts in Bushels of Wheat) IVAN IGOR BeginningEnd ofBeginningEnd of Assetsof Period Period of Period Period Wheat2022310105 Fertilizer21 Ox40364036 Plow2 Land100100 50 50 Total Assets162359101193 Liabilities and Owner’s Equity Accounts Payable3- Owner’s Equity162356101193 Total Liabilities and Owner’s Equity162359101193 Questions will likely arise as to the accounting entity. One view is that there are two accounting entities (Ivan and Igor) to whom the Red Bearded Baron has entrusted assets and required a periodic reporting on stewardship. The â€Å"owner† in owner’s equity in this case is the Red Bearded Baron. Another view is that the Red Bearded Baron is the accounting entity, in which case financial statements that combine the financial statements for Ivan and Igor are appropriate. Identifying the accounting entity depends on the intended use of the financial statements. For purposes of evaluating the performance of Ivan and Igor, the accounting entities are separate- Ivan and Igor. To assess the change in wealth of the Red Bearded Baron during the period, the combined financial statements reflect the accounting entity. 1. 43 continued. c. IVAN AND IGOR Comparative Income Statement (Amounts in Bushels of Wheat) IVANIGOR Revenues243138 Expenses: Seed2010 Fertilizer21 Depreciation on Ox44 Plow31 Total Expenses2916 Net Income 214 122 Chapter 1 does not expose students to the concept of depreciation. Most students, however, grasp the need to record some amount of expense for the ox and the plow. d. (Amounts in Bushels of Wheat)IVANIGOR Owner’s Equity, Beginning of Period162101 Plus Net Income214122 Less Distributions to Owner(20)(30) Owner’s Equity, End of Period 356 193 e. We cannot simply compare the amounts of net income for Ivan and Igor because the Red Bearded Baron entrusted them with different amounts of resources. We must relate the net income amounts to some base. Several possibilities include: IVANIGOR Net Income/Average Total Assets82. 2%83. % Net Income/Beginning Total Assets132. 1%120. 8% Net Income/Average Noncurrent Assets155. 1%137. 1% Net Income/Beginning Noncurrent Assets152. 9%135. 6% Net Income/Average Owner’s Equity 82. 6%83. 0% Net Income/Beginning Owner’s Equity132. 1%120. 8% Net Income (in bushels)/Acre10. 7012. 20 This question has no definitive answer. Its purpose is to get students to think about performance measurement. The instructor may or may not wish to devote class time at this point discussing which base is more appropriate.