Fractals: A New-Age Mathematics to Explain Our World :: Fractals Mathematics Math Papers

Fractals A New-Age Mathematics to Explain Our World Fractal art is a new-age art that tantalizes the eyes and mind with patterns, shapes, colors, and abstract imagery. Artists have once again open a way to harness the abstractedness of mathematics and integrate it into their work. So where does this new art form of fractal design stem from? The reality is that fractals themselves are relatively young in the mathematical world. Of course since the beginning of art and history and mathematics, self-similar objects have existed and been intriguing to the human mind. However it has only been recently that mathematicians have begun to justify them. So the question is posed, what is a fractal? Fractals are actually very simple. A fractal is any design that contains self-similar images within itself. One real-life example would be a circulative system. Each single blood vessel resembles the overall shape of the system. 2 The main characteristic of the fractal is its self-similarity. That means that each part that makes up the whole resembles the whole. A fractal is past generated from millions of smaller images that together form a larger similar image. Nowadays, most fractals are done with the computer. This is because it is very slow and tedious to do the work by hand. However, some simple fractals such as a Koch curve or a Sierpinsky triangle can be created by hand. The Koch curve for example starts turn up as a straight line. Then, in the middle of the line, an equi posthumousral triangle is formed. From that point, every straight line becomes split by an equilateral triangle. This step would be repeated over and over until a snowflake forms. The result of repeating the process five times is shown below.3This is a very simple fractal. Fractals like the ones fancy below can only be produced with a computer.1Notice the self-similarity in the picture. See how the smaller objects relate and mimic the whole picture. That is the e ssence of fractal art and fractal geometry. homogeneous to any branch of math or science, new concepts do not simply generate all of a sudden. Fractal ideas can be traced back to the late nineteenth century, however if one looks past that, they will see that the anchient Greek mathematicians also dabbled in the world of fractals.

Biomedical research on animals Essay -- essays research papers fc

Heart attacks, bladder failure, and lack of medical checkup cures ar on the whole very serious problems that are killing people today. How can doctors look more about these medical difficulties? Through animal interrogation doctors can obtain valid results regarding these medical problems and create cures for people with many other medical difficulties. The progression of medicine and the day to day life styles of the general population rely on the ethical practice of animal testing. The alternatives to animal testing are not very valid. Artificial testing with computer simulations, have not reached a technological level at which these simulations can be trusted to course a valid results to experiments(3). Also, human testing has many restrictions and guidelines that make it almost impossible to perform tests on humans that could ment on the wholey or physically harm the subject. Therefore, animals provide a necessary involvement in the tests being performed today because the re are no other reliable, valid sources for medical or ornamental experimentation. Animal testing is imperative to the progression of medical cures, procedures and drugs. Animal research is constantly insuring the healthy future of others or a future at all for infants and children. Recent advancements in biomedical research have led to better treatments for common childhood ailments(5). Today, vaccines developed through animal research have all but eradicated diseases such as small pox and polio and treat asthma, juvenile diabetes, childhood cancer and many other illnesses.(5) This can be seen especially in the advancements of drugs use to cure and inhibit the HIV virus and diabetes. Today, doctors are able to achieve long-term insulin independence in a small root of severely diabetic patients who had received pancreatic islet cell transplant, something previously achieved in experimental mice and primates but never before in humans(5). nowadays people with sever even life threa tening diabetes can receive relief from this disease. Without the necessary preliminary testing on mice, this procedure would not be possible. Think about it, a common rodent that people try to eliminate everyday is now saving peoples lives But why animals? Are they truly that biologically close to humans? Now some may argue that an animals anatomy is very different than that of a humans anatomy, which is very true for the most part. H... ...ls are raised in a contained environment just like animals used for experimental research. Both food producing animals and animals used in experiments provide humans with life sustaining products. Animal testing is a way of life because it sustains and extends life and until there are valid alternatives, animal testing will remain an ethical, valid, and conclusive practice. Works CitedAnimal Experimentation. 14 Jan. 2002 . Animal Research Fact vs. Myth. 14 Jan 2002 .Are There logical Research Methods. 14 Jan. 2002 .Bad Company. 18 Jan. 2002 . Breaking the Diabetes Transplant Barrier. 14 Jan. 2002 .Fox, Michael Allen. The Case For Animal Experimentation. Los Angeles University of California Press, 1986.End Notes(1)Animal Experimentation. 14 Jan. 2002 . (2)Animal Research Fact vs. Myth. 14 Jan 2002 .(3)Are There Valid Research Methods. 14 Jan. 2002 .(4)Bad Company. 18 Jan. 2002 .(5)Breaking the Diabetes Transplant Barrier. 14 Jan. 2002 .(6)Fox, Michael Allen. The Case For Animal Experimentation. Los Angeles University of California Press, 1986.The Argument Over Animal Testing

Robotics Essay -- essays research papers fc

Robotics     The meet usually thought of by the word robot is that of a mechanicalbeing, somewhat pitying in shape. Common in science fiction, robots are generallydepicted as working in the service of deal, but often escaping the control ofthe people and doing them harm.     The word robot comes from the Czech writer Karel Capeks 1921 play R.U.R. (which stands for "Rossums Universal Robots"), in which mechanicalbeings made to be slaves for benignantity rebel and kill their creators. From this,the fictional image of robots is sometimes troubling, expressing the fears thatpeople may turn over of a robotized world over which they cannot keep control. Thehistory of real robots is rarely as dramatic, but where developments in roboticsmay lead is beyond our imagination.     Robots exist today. They are used in a relatively small number offactories located in highly industrialized countries such as the United States ,Germany, and Japan. Robots are as well as being used for scientific research, inmilitary programs, and as educational tools, and they are being developed to fearpeople who have lost the use of their limbs. These devices, however, are forthe most part quite different from the androids, or humanlike robots, and some other(a)robots of fiction. They rarely take human form, they perform only a limitednumber of set tasks, and they do not have minds of their own. In fact, it isoften hard to distinguish between devices called robots and other modernautomated systems.     Although the term robot did not come into use until the 20th century,the idea of mechanical beings is much older. Ancient myths and tales talkedabout walking statues and other marvels in human and animal form. Such objectswere products of the imagination and nothing more, but some of the mechanizedfigures also mentioned in early writings could well have been made. Suchfigures, called automatons, hav e long been popular.     For several centuries, automatons were as close as people came toconstructing true robots. European church towers provide fascinating examplesof clockwork figures from medieval times, and automatons were also devised inChina. By the 18th century, a number of extremely clever automatons becamefamous for a while. Swiss craftsman ... ...ng time.     Research into developing mobile, autonomous robots is of heavy(p) value.It advances robotics, aids the comparative study of mechanical and biologicalsystems, and can be used for such purposes as devising robot aids for thehandicapped.     As for the idea androids of the possible future, the well-knownscience-fiction writer Isaac Asimov has already laid down rules for theirbehavior. Asimovs first law is that robots may not harm humans either through body process or inaction. The second is that they must obey humans except when thecommands conflict with th e first law. The third is that robots must protectthemselves except, again, when this comes into conflict with the first law.Future androids tycoon have their own opinions about these laws, but these issuesmust wait their time.BibliographyBuckley, Ruth V. "Robot." Grolier Electronic Publishing, Inc. 1993. Gibilisco,Stan. The McGraw-Hill Illustrated Encyclopedia of Robotics and ArtificialIntelligence. McGraw-Hill, Inc. New York, 1994. Warring, R. H. Robots andRobotology. Tab Books Inc. Blue Ridge Summit, Pa. 1984.And variant sites on the internet.

Long Term Effects of Colonization :: essays research papers

Even in todays complex society, the make of past settlement can still be felt. The most obvious of these effects on society is a change in the culture of any colonized stadium or group of people. This is a direct result from the forceful tactics used during historical colonization.Colonization has occurred throughout history. In Europe, three of the most important colonizers were the Spanish, the French, and the British. These three countries were driven by three very basic motives a desire for material gain, a desire to spread religion, and a desire to broaden territory.Britain conquered Burma over a period of 62 years (1824-1886). Burma wasnt administered as a province of India until 1937, when it became a separate, self-governing colony. This is the arrangement of details surrounding George Orwells story of Shooting An Elephant. The reader finds oneself in the midst of a colonization struggle between the British and the Burmese. On one hand there is a Burmese elephant that needs to be contained, while on the other hand there is a growing number of people joining a force that seems to be an obstacle for an imperialist guards ability to take control of the situation. The very tension of the crowd following the imperialist guard is the colonization effect is felt. This crowd of Burmese civilians expect the guard to shoot and kill this elephant, hence the reason they followed him. The guard finds himself being pressured by the crowd to take cautiousness of shooting the elephant. It is this pressure that almost forces the guard to make a hasty, not necessarily the right decision about handling these circumstances. If the guard were to make an fracture in judgment in direct result from this pressure from the crowd, he would find himself caught in a very bad position. A guard, who is part of a coalition colonizing an area, in the middle (literally) of an angry mob of local civilians unwilling to accept the colonization brought on by this guards imperialis tic philosophies.The effects of eighteenth and nineteenth century colonization can still be felt today. When Britain colonized Burma, the English language quickly spread, and the indigenous languages of the natives began to be wiped out.

Bennidict Arnold :: essays research papers

My name is Benedict Arnold. I was born on January 14, 1741 in Norwich Connecticut. I led a very daring life, for I was a spy. My complete familial lineage was based in New England and was long established and well respected. As a child I worked with an apothecary, but that wasnt what I planned to do for my life. During the French and Indian War, I enlisted in the militia and fought from 1754 to 1763. My father died toward the end of the war, and so I had no way of making specie afterward, so I used my knowledge of potions and became a druggist in New Haven, Connecticut. My business soon expanded, and I began a trading company that shipped to Canada and the west Indies in 1764. After eleven years in this business, my success brought about my election to militia captaincy. Soon after I was made captain, I was in one case again upgraded to the status of colonel.At the start of the American Revolution in 1775, I joined Ethan Allen to capture Fort Ticonderoga from the British. After t he great success I had in New York, I decided to make an assault on Quebec. I was promoted to brigadier general after this invasion, even though I had to call in to Lake Champlain.I was actually defeated there at Lake Champlain in 1776 by a British naval attack. This did diminish my perseverance somewhat, but I came bum into full force in April 1777 when I was promoted to major general after the Battle of Ridgefield. If I do say so myself, I would definitely piddle you know that had I not relieved Fort Stanwix in the fall of 1777, an American victory at the Battles of Saratoga would not have been possible.By subject field leadership allowed me to become the air force officer in Philadelphia in 1778, where I met my wide, Margaret Shippen. I became a bit obsessed with money once I became commander, and for a neat reason I served my country for many years, and I still feel that I had a right to some money. Well, that wouldnt be too oft of a problem had I not gone into debt. At th at point, I had to begin begging for money. I came in contact with a British commander in chief named Sir Henry Clinton. This is where my devious actions began.

Bennidict Arnold :: essays research papers

My name is Benedict Arnold. I was born on January 14, 1741 in Norwich Connecticut. I led a very daring life, for I was a spy. My entire familial lineage was based in New England and was long established and well respected. As a child I worked with an apothecary, but that wasnt what I planned to do for my life. During the French and Indian War, I enlisted in the militia and fought from 1754 to 1763. My father died toward the end of the war, and so I had no way of reservation money afterward, so I used my knowledge of potions and became a druggist in New Haven, Connecticut. My business soon expanded, and I began a trading smart set that shipped to Canada and the West Indies in 1764. After eleven years in this business, my victory brought about my election to militia captaincy. Soon after I was made captain, I was once again upgraded to the status of colonel.At the start of the American Revolution in 1775, I joined Ethan Allen to capture Fort Ticonderoga from the British. After the great success I had in New York, I decided to make an assault on Quebec. I was promoted to brigadier general after this invasion, even though I had to retreat to Lake Champlain.I was actually defeated there at Lake Champlain in 1776 by a British naval attack. This did diminish my perseverance somewhat, but I came back into full force in April 1777 when I was promoted to major general after the Battle of Ridgefield. If I do say so myself, I would unimpeachably have you know that had I not relieved Fort Stanwix in the fall of 1777, an American victory at the Battles of Saratoga would not have been possible.By battlefield leadership allowed me to become the commander in Philadelphia in 1778, where I met my wide, Margaret Shippen. I became a bit obsessed with money once I became commander, and for a good reason I served my country for many years, and I still feel that I had a right to some money. Well, that wouldnt be as well much of a problem had I not gone into debt. At that point, I had to begin begging for money. I came in contact with a British commander in chief named Sir Henry Clinton. This is where my devious actions began.

Law of Carriage by Rail Essay

1) a) Explain how the making of the melt off between the consigner and the civilizeroad line station can exist? The contract between the consigner and the line line guild provide existing when the railway society has accepted the goods for military strength from the consignor and together with the weightage place make by consignor.The acceptance will be established with the encumbrance post and will be stamp of the forwarding station. The despatch note is do by the consignor with three copy, apiece copy for each materiel freight, and the content of the encumbrance note atomic snatch 18 correspond with all the terms and condition that was agreed by the Rules.When the consignment note had been made by the consignor and was organism stamped by the forwarding station, the consignment note will be an evidence of the making contract between the consignor and the railway station or forwarding station, the content that stated in the consignment shall be correspond or exac tly same with the consignor with railway station previously agreed.The responsible of the consignor is extraordinary of the consignment note, which may in accordance with the agreement between consignor and the railway company. In the consignment note was related to the goods such as quantity of the goods or to the criterion of packages shall only be evidence against the railway when it had been confirm by the railway to inflect that is not any deviation with the particular of the consignment note and has be informed in the consignment note.If that was any necessary these particulars may be verified by different means or it was obvious that there is no actual insufficiency corresponding to the discrepancy between the quantity or amount of packages and the particulars in the consignment note, the latter shall not be evidence alongside the railway. This shall apply in particular when the carriage is handed over to the consignee with the original stamps complete.after the railway company has verified the goods, and they shall to certify a receipt that include the date of acceptance of the carriage and stamped on the consignment note before it was duplicated to the consignor.The railway shall declare acceptance of the goods and the date of acceptance for carriage by assigning the date stamp to or else making the entry on the duplicate of the consignment note before compensating the duplicate to the consignor. The duplicate will not turn over influence as the consignment note complementary the goods, nor as a bill sticker of lading. elevated Trunk railroad line Co. of Canada v. McMillan 1889In this fictional character is the Grand Trunk Railway Company of Canada as defendant and Robert McMillan as complainant. The fact in the case is the railway company pay the contract with Robert McMillan, which is a contact for carriage of the goods and it was go beyond of the station of line. The railway company undertakes to lift goods to a channelise beyond the station of its own line its contract is for carriage of the goods over the whole skip over. However the other companies which over of the line they must pass are merely agents of the contracting company for such carriage, and it was in no private of contract with the transporter.In addition, such a contract being one which a railway company may refuse to enter into the contact, it is because of according to section 104 of the Railway Act it does not prevent from restrict the obligation for negligence as carriers or else in respect to the goods to be carried after they had gone from its own line.Moreover, inside the contract call for a condition from the Grand Trunk Railway Company (defendants), it was stated, they carry the goods form Toronto to Portage la Prairie, Man., it was a place that beyond the station of their line, and the company shall not be responsible for any loss, disability or delay and detention that may happen to goods sent by them. If that has be happen (loss, damage or delay and detention) after said the goods had arrived at the move or places on their line nearest to the points or places which they were committed to or beyond their held limits.Furthermore for the condition of the contract is provided that no claim for loss, damage, delay or detention of goods should be allowed unless notice in writing with particulars and it was given to the station agent at or nearby to the place of delivery within 36 hours after delivery of the goods in order to the claim that was made. The held in this case is because of the condition are not relieve with the company from the liability for the loss and damage that happened during the goods in transit, even if the loss, damage, delay or detention had happened beyond the limits of the company in that own line.As well as the loss having occurred after the transit was over, and the goods delivered at Portage la Prairie, and the liability of the company as carriers having ceased, this condition reduced the contract to one of mere bailment as soon as the goods were delivered, and also exempted the company from liability as warehousemen, and the goods were from that time in keeping of the company on whose line Portage la Prairie was place and it was as an bailees for the goods.That a plea setting up non-compliance with this condition having been demurred to, and the plaintiff not having appealed against a judgment over-ruling the demurrer, the question as to the sufficiency in law of the defense was res judicata.Likewise for the part of the consignment having been lost such notice should have been given in respect to the same within thirty-six hours after the delivery of the goods which arrived in safety.Finally it was be an action against the Grand Trunk Railway Co. and the Canadian peaceful Railway Company jointly for redress caused by injury to the plaintiffs goods that carry on the Grand Trunk for carriage of goods from Toronto to Manitoba. The goods were only carried by the G rand Trunk over a portion of the route and by the Canadian Pacific from Winnipeg to the place of consignment, and they were in the actual ownership of the latter company when injured. And because of the damage to the goods was not dis regulateed, but the defendants claimed that they were carried under a special contract, by the terms of which they were relieved from liability.b) Briefly explain the party that have the liability to be liable under the carriage by rail?The rail carrier has the liability to be liable for the loss, damage or any delay of the goods that who was under CMR.According to Article 55 is provided that the railways may bring an action to forwarding railway. That is for claim against the railways company due to arising of loss, damage or delay of the goods, and is an action that for reclamation of totality of funded under the contact of carriage of goods might be taken against the railways which have compose that totality or against to railways on behalf it was collected.Based on Article of 54, that is the action against the railways might be brought by the consignor. If any happen action arising from the contact of carriage of goods, the action might brought by consignor until the consignee was take a proprietorship of the consignment note, accepted the goods from the consignor, or declared he has the right to deliver the goods. Or the action against the railways also can brought by the consignee, when the consignee are take a possession of the consignment note, accepted the goods, declared his right or he had been provided that he has the right of action that shall be quenched from the time when a person was entitled by the consignee.However, if they might brought an action against the railways, consignor shall to produce the duplicate of the consignment note, because that will be an evidence that he produce an authorisation from the consignee or deliver resistant that the consignee has refused to accept the consignment note, or the con signee shall to produce the consignment note if it has been furnished terminated to him.In addition, that Article of 36 that is the extent of the liability. The railways has a number of exclusion from the liability. In fact the railways shall to be liable for the loss, damage or delay of the goods, and occasioning from the total or some of the partial of loss, damage or delay from the consignor or between the time that had acceptance for carried out the goods cargo and the time delivery and inherent vice of the goods such as defective packaging, decay of the goods or wastage.The railway company shall be relieved of such liability when the loss, damage or delays or the goods that had carried, due by the cause of fault on part of the person entitled, or by the person that entitled other than as result of a fault on the part of the railway which the railway could not avoided and which is unable to prevent the consequence.For instance, under the agreement between the consignor and the railway in the consignment note, the goods should be under the condition that applicable that had been stated in consignment note, any absence or lack of the makeweight of the good which by their nature shall be liable to loss or damage when the goods was not packed or not be properly packed, or defective loading that had been carried by the consignor, any irregular, incorrect or any incomplete description of the article not been satisfactory for carriage or acceptable matter to conditions or failure on part of the consignor to observe the prescribed protections in respect of article acceptable matter to conditions, or the carriage of the live animal and what stated in the consignment note must be accompanied by any attendant, if the loss, damage or delay of the goods had been resulted in the risk of the attendant was intended to obviate, all the circumstance, the railway shall be relieved of the liability when it was cause in resulted in loss, damage or delay of the goods.For util ization in the case of Mitsubishi Heavy Industries Ltd. v. Canadian interior(a) Railway Co., Rainbow industrial Caterers Ltd. v. Canadian National Railway Co., 1991, see as well the case of Grand Trunk Railway Co. of Canada v. McMillan 1889.Mitsubishi Heavy Industries Ltd. v. Canadian National Railway Co.In this case the Mitsubishi Heavy Industries Ltd is the plaintiff and Canadian National Railway Company is the defendant in the cases.The fact in the case was as an import of a train derailment cargo owned by the plaintiff was severely damaged. The cargo was being accepted under a Master Transportation Agreement between the plaintiff and Fujitrans as a freight forwarder. The goods made in Japan and were carried by sea to Vancouver where it was discharged for further carriage to Ontario by rail.Furthermore, the defendant rail carrier assumed, pursuant to Section 137(1) of the Canada Transportation Act, S.C. 1996 and an agreement between Casco, another freight forwarder, that it was entitled to limit its liability to $50,000. However the rail carrier was entitled to limit his liability.The held in the case is which is the right of the defendant as a rail carrier to limit its liability depends on it establishing the existence of a confidential contract under ss. 126 and 137 of the Canada Transportation Act that is a written agreement sign-language(a) by the shipper and that contains a limitation of liability. The shipper within the meaning of the Canada Transportation Act in the circumstances of this case was Casco not the plaintiff.In addition, the requirement of a sign copy of the agreement does not necessarily require that an actual contracted copy be produced. In this case, the existence of signed consignment of the agreement was sufficient. The plaintiff impliedly or expressly agreed to and authorized the subcontracting by Fujitrans to Casco and by Casco to the rail carrier.Moreover, the plaintiff had express awareness of the terms of the agreement betwee n Casco and the rail carrier. Accordingly, the plaintiff is guaranteed by the limitation even without any private of contract between it and the rail carrier.Rainbow Industrial Caterers Ltd. v. Canadian National Railway Co., 1991In this case the Rainbow Industrial Caterers Ltd as an appellant however Canadian National Railway Company as a defendant in the cases.The fact in the cases is actually they have two different industrial caterers, both of them is from Albert and in BC, and they was joined and administer as one entity that called as Rainbow. Canadian National Railway Company dogged to call for tender for the catering of the meals and service for all the work of crews on a nation-wide basis for the good weather work period in 1985. It had estimated that 1,092,500 meals that will be required. Canadian National Railway Company was notified to Rainbow that the meals are total expected to be 85% of the values listed in the tender document, after the Rainbow was made the bids at $ 4.94 per meal. It was caused the Rainbow was to increase its bid to $5.02 per meals.As a result that the Rainbow was accumulate that it was losings month by month, because of the number that the meals required was very less than the number given as by the Canadian National Railway Company, and it was caused the Rainbow lost about $1,000,000 on the contact and sued to Canadian National Railway Company. Rainbow was brought an action in tort on the basis of negligent misstatement and misrepresentation in the contact. It is mean that was a breach of the contact and negligent misstatement.The held in the cases is the appellant is looking for the damages in an action for the negligent of misrepresentation is entitled to be put in the position, which if the misrepresentation had not been made. Thus, in tort of action the object is to put the appellant in the position that would have been in if the tort had not been committed. The position would have been is a matter that the appellant must to establish on a balance of the probabilities.However the Canadian National Railway Company was argue that the much of the losses was not caused by the negligent misrepresentation and would have been suffered even had the estimated was accurate. Canadian National Railway Company position is that the losses caused by the conduct that cannot be recoverable in the misrepresentation claim.But, the Canadian National Railway Company is bore the burden of proving the Rainbow would have a bid even if the estimate had been accurate. That was not being proved and it is taken as a fact that the Rainbow would not have to contract had the estimate been accurate. The conduct would not have occurred if there had been no contracted and these losses are causally and direct connected to the contract and the contact is causally connected to the negligent misrepresentation.Finally, this damage was foreseeable and there are not remote. The court was not satisfied that the Rainbow would have entered i nto the contract in the absence of the misrepresentation, so the damages claimed by the Rainbow were predictable.Furthermore the appellant may compete that all its losses on the contract were caused by the negligent misrepresentation but if it is shown that the loss was caused by factors other than the misrepresentation, and then the chain of causation is broken down. Generally, the plaintiff establishes a prima facie case by proving losses resulting from the contract. But the defendant may demonstrate that the chain of causation was broken by. For instance that the appellant was acts in own, the acts of third parties, or other factors different to the circuitous misrepresentation. Tort responsibility is based on mistake, and losses not caused by the defendants fault cannot be charged to it. It is for the appellant in constricting to make appropriate allowance for contingency such as conditions. The plaintiff may also have claim against third parties who cause it loss.To strengthen , the plaintiffs losses may have been caused by the respondent in negligent misrepresentation, or other wrongful acts or omissions of the respondent, whether in negligence or breach of contract and the plaintiffs acts or errors, the acts of third parties, factors unrelated to the faulted either the plaintiffs or the defendant. Trial judge wrongly held that all the appellant contract losses must be certified to and made no findings with respect to the other potential, in spite of the fact that the defendant Canadian National Railway Company led verification on them. These findings must be made if fairness is to be done.

Capital Structure Essay

Capital structure is how a troupe finances its oer tout ensemble operations and growth by using silver from justice or debt (Investopedia, 2012). Of course, every fellowship must envision its preference on its debt-to-equity ratio and determine which great(p) structure works best for them. or so approaches to analyzing peachy structure are1.EBIT EPS This analyzes the impact of debt on earnings per share (EPS). Optimizing stockholders wealth is the optimum goal and therefore, this approach analyzes the high EPS base on an expected range of earnings before income tax incomees (EBIT). 2.Valuation Determines impact of debt use on shareholders value by determining the level of debt at which the gathers of increased debt no longer outweigh the increased essays and expenses associated with financing (Wenk, 2012) 3.Cash Flow Analyzes a firms debt capacity by using the weighted fair of cost of capital (WACC).The WACC is a calculation of a firms cost of capital in which each capit al source (bonds, carnation and opposite long-term debt) are proportionally weighted to determine how much involvement the company has to break for every dollar it finances (Investopedia, 2012).Look morecapital budgeting examples essayPart of Competition Bikes (CB) main consideration in the decision to merge or acquire Canadian Biking is working capital. Lets use the EBIT EPS approach to determine how to maximize shareholder return while minimizing the cost of capital. We periodly know Canadian Bikings maintain sales forecast of EBIT figures for the next 5 historic period (Year 9 13), therefore we can apply the EBIT EPS approach to choose an optimal capital structure.The total of capital sources in each of the 5 years is $600,000. We exit use EBIT EPS to determine which assortment of bonds*, preferred stock, and common stock is the best option to increase Canadian Bikings EPS. The five alternative capital structures allow in Option 1 100% Bonds (fully financed)Option 2 50% Preferred Stock & 50% Common Stock (no bonds)Option 3 20% Bonds & 80% Common StockOption 4 40% Bonds & 60% Common StockOption 5 60% Bonds & 40% Common Stock* annual bond interest rate is 9% after(prenominal) using the EBIT EPS approach using the forecasted EBIT amounts for Years 9 through 13, we can average the EPS for each of the 5 years to determine which capital structure produced the highest EPS. The EPS averages computed for the capital structure options are Option 1 Average EPS = .0452Option 2 Average EPS = .0542Option 3 Average EPS = .0526Option 4 Average EPS = .051Option 5 Average EPS = .0494Based on the EBIT EPS approach, the recommended capital structure is option 2, 50% preferred stock & 50% common stock. This is the best capital structure mainly because there are two things to consider 1) long-term debt and associated interest expense and, 2) equity and of common shares. Option 2 is the best capital structure because there are no bonds and therefore, no interest expense. For example, if we look at option 1 in Year 9, and the bond interest is 9%, then the bond interest expense is $54,000 (.09*600,00). This humiliates the income before taxes by $54,000. Although companies can finance debt and use the interest expense deduction to pass up their taxable income, it doesnt make sense for Canadian Bikes to fully finance their capital, because the interest expense costs outweigh the benefit of the tax deduction, endinging in a significant decrease in total income available for common stock.Additionally, because the capital structure consists of 300,000 shares of preferred stock, the company must pay dividends of 5%, reducing the companys total income available for common stock by $15,000 (.05 * 300,000). Although this reduces the total income available for common stock, the company will maximize its EPS by only having 50% capital in common stock. This reduces the total number of common shares outstanding, which means less shares to divide the to tal income among. Therefore, Option 2 is the most optimal capital structure that considers minimizing long-termdebt expenses and the optimal number of common shares in order to maximize shareholder return. swell BUDGETINGCompetition Bikes is considering grammatical construction a manufacturing facility in a saucily Canadian location. The total investing for this project would be $600,000 USD. This consists of $400,000 to build the facility and an additional $200,000 in working capital to support operational costs. The company has projected bullion guides over the next five years therefore we can use interchange flow budgeting methods such as net hand over value (NPV) and Internal Rate of Return (IRR) that consider cadence value of money for long-term investments (Pearson Education, Inc., 2008).Net present value analyzes the profitability of a project by determining the difference between the present value of the projects cash inflows and outflows followed by subtracting the sign investment. (Investopedia, 2012). The decision rule applied to NPV is fairly simple, if the NPV is positive, invest if the difference is negative, do non invest. Competition Bikes applies NPV to forecasted low and moderate sales for the next 5 years.After using the forecasted sales for low pauperization, the total present value (after subtracting cash outflows from inflows) is $560,719. If we subtract the initial investment of $600,000 from this amount, the NPV is -$39,281. This is a significant warning that the company should not proceed in twist a manufacturing facility. On the other hand, if we use the forecasted sales for moderate admit, the total present value is $608,447. If we subtract the initial investment of $600,000, the NPV is $8,447. Therefore a positive NPV indicates the company should proceed with building the manufacturing facility.The biggest concern is determining which NPV to lean towards based on low or moderate sales. Unfortunately, the risk of having low sales outweighs the profitability benefit of having moderate sales. It is too risky for CB to move forward with the investment based on the NPV of low sales (-$39,281). In order for the company to profit from this investment, CB would need to have a moderate sales demand at minimumThe present value in NPV is mensurable using an interest rate, also known as the required rate of return. CBs required rate of return is 10%. When this interest rate is modify or calculated to make the total present value equal to the initial investment, the NPV becomes equal to zero this is called the internal rate of return (IRR) (Pearson Education, Inc., 2008). The IRR is what a company can expect to earn from investing in the project and the higher the IRR, the more desirable the investment. The calculated IRR for low demand cash flows is 8.2% and the IRR for moderate demand cash flows is 10.4%.Based on these IRR figures, the company should not pursue the capital investment because the average IRR between both low and moderate sales is 9.3%. This is under the companys required return on capital (hurdle rate) of 10% to pursue a capital investment. Again, the company would need to have a moderate sales demand, at minimum for this capital investment to be profitable and should therefore not pursue building a new manufacturing facility.WORKING CAPITALCB must effectively obtain and manage working capital for the expansion of the operation. CB must first look at their operating one shot, cash modulation cycle and free cash flow factors in order to ameliorate issue and management of working capital. Lets discuss the companys current status of each of the working capital and cash flow factors and determine how the company can ameliorate in these areas.First, the operating cycle involves CB sending the distributor a monthly history for all raw materials ordered with wrong of net/30 days. This can be improved by renegotiating the payment terms will distributors to net/15 days . This would increase cash flows by improving payment turn around time and accounts receivable collections. Additionally, the company can improve its relations with its distributers to increase effectiveness of its collection process. Another operating cycle factor is ordering and paying for inventory. Currently, the company pays for inventory in the month spare-time activity production and all inventory ordered for the month is used leaving inventory levels (at the end of each month) at consistent levels. In orderto improve working capital the company should utilize and lower its year ending inventory balance.For example, at the end of Year 8, the company had $91,573 worth of inventory leftover over. The company should utilize the current inventory on hand before ordering similar raw material items. This will decease cash flows and abdicate fewer inventories on hand at the end of the year. Currently the average time in inventory is 25 days. This is a substantial turnaround time currently, however in the future, the company can consider replacing labor workers with fixed asset items to improve production time. This will satisfy customer demand by decreasing delivery time and improve cash flows by invoicing customers more frequently than 25 days after production.CBs cash conversion cycle factors also impact working capital. Currently, the CBs suppliers invoice at the end of the month for orders that month with terms of net/15. CB does an excellent job of preserving its cash flows by paying the invoices on the 15th of the month following the order.. CB can improve its working capital by negotiating for longer payment terms, i.e. net/30 days, allowing for more time for the company to earn money to pay their invoices. If this is not possible, the company can improve its forecasting measurements for ordering supplies and order the majority of the supplies compulsory for the month at the beginning of the month.This would increase the amount of time the company h as sufficient supplies on hand without having to pay more money, (because the suppliers will still invoice for the orders at the end of the month, regardless of how early in the month the supplies were ordered). This can increase working capital because it acts as a contingency plan, to reduce the likelihood of running out of supplies, avoiding delays, or ordering supplies in excess.Free cash flow factors also affect CBs working capital. Currently, the company recognizes depreciation in both manufacturing overhead and as depreciation expenses depending on the fixed asset. The company can use their depreciation data to increase management of cash flows by predicting when the company will have to spend a significant amount of money to replace an asset when its useful life expires. This will prepare CB for those undesired although necessary fixed asset costs.Currently thecorporations marginal tax rate is 25%. The company can consider obtaining working capital by financing debt. This will leave the company with an interest expense at the end of the year, which is deductible from gross earnings and results in paying lower taxes. After CB improves its working capital, lets discuss how CB can use its working capital for the lease vs. buy option for a factory building in Canada.CB can use its working capital to cover the $50,000 down payment (or buy out option if they decide to lease) and $200,000 for operational costs of the new factory. According to the data provided for the lease vs. buy option, the lease option will preserve cash outflows of $12,339, (purchase cash outflows are $333,999 and lease cash outflows are $321,660). Therefore, the company should lease the manufacturing facility to preserve cash outflows. Leasing the facility will also allow CB to deduct annual interest payments (6% interest) from the gross earnings to lower their tax payments. This will increase the companys net earnings at the end of the year, also resulting in higher retained earning s and increased shareholder value.MERGER OR ACQUISITIONCB should consider many factors when deciding to merge or acquire Canadian Biking. Lets analyze the pros and cons between a merge vs. acquisition and determine what the best move would be for CB. First off, if the company were to merge with Canadian Biking, the say-so EPS would increase by approximately .021. This shows potential for increased ownership earnings, but is it significant rich? At the same token, the price/earnings ratio for Canadian Bikes at the end of Year 8 was 9 and CBs was 70. This shows that CBs current investors are expecting greater earnings in Year 9 and are willing to pay $70 for $1 of current earnings. This is not the case with Canadian Bikings investors.Unfortunately a low P/E ratio of 9 indicates that investors are not expecting a significant growth in company earnings. This raises a concern if the merge will result in a potential increase of .021 in EPS. On the other hand, a merge would result in low er costs because CB would not be purchasing Canadian Biking outright. Canadian Biking also has a lower cost competition bike that can decrease production costs and complement CBs current bike model being offered. This will result ingreater net earnings and cash flows.If the company were to acquire Canadian Bikes, CB can expect a gradual increase in cash inflows over the next 5 years. However, the current offered sales price for Canadian Biking is $286,000 this is 30% more than what the company was valued at, at the end of Year 8. Although CB has enough working capital to make the purchase, it would take 5 years of gradually increasing cash inflows to recoup the price tag of $286,000. This means it could take approximately 5 years, before shareholders saw a significant increase in earnings per share.Based on the pro and cons, CB should merge with Canadian Bikes to lower their production and delivery costs, increase net income, EPS and cash flows, and preserve working capital. The pri ce to acquire Canadian Biking is simply unreasonable based on predicted cash inflows over the next 5 years. The merger will enhance CBs market position in Canada by having a local distributer to handle all customer orders and provide cost effective and great customer service to the growing Canadian market.ReferencesInvestopedia. (2012). Capital Structure. Retrieved from http//www.kotzinvaluation.com/articles/capital-structure.htm Investopedia. (2012). Weighted Average Cost of Capital. Retrieved from http//www.investopedia.com/terms/w/wacc.aspaxzz2Azkq4E2V Investopedia. (2012). Net Present Value. Retrieved from http//www.investopedia.com/terms/n/npv.aspaxzz2Azkq4E2 Pearson Education, Inc.. (2008). Horngren Accounting. Retrieved from http//wpscms.pearsoncmg.com/wps/media/objects/6716/6877765/hha08_flash_main.html?chapter=null&page=1042&anchory=null&pstart=null&pend=null Wenk, D. (2012). Using an optimal capital structure in course valuation. Retrieved from http//www.kotzinvaluation.c om/articles/capital-structure.htm

Analysis of Child Development Research Essay

The purpose of the study was to compare the outcomes of youth in long-term further condole with with a group of sisterren who entered into rear care and were subsequently take before reaching the age of 7 (Vinnerljung & Hjern 2011). Previous research conducted by Bohman and Sigvardsson found that at the age of 15, nurse children who had been adopted performed as rise up in school as their peers who had never entered foster care. Children who were still in foster care had poorer grades and more behavioural problems. This gave the first implication that differences in child rearing environments are a strong factor in the positive or negative development of a child. The study consisted of a sample of 3,951 Swedish children born between 1972 and 1981. Each child entered care before the age of 7, and they were tested periodically until age 26. Of these children, 899 were adopted before the age of 7, and 3,062 grew up in foster care for more than 12 years (before aging out of the program at the age of 18).Adopted children spent an average of 1.6 years in foster care before toleration, while long-term foster care children spent an average of 16 years in care. The control group consisted of (consensus) data collected from 900,418 children who were never adopted or in foster care. These groups were adjusted for confounding variables, such as parental mental health problems and substance tread before and/or after birth, as well as for age at entry into care. The outcomes were measured by an intelligence test that consisted of four subtests logical, spatial, verbal, and adept capabilities. The scores ranged from 1-9, with 5 being average and a higher score indicating a higher cognitive competence.Both experimental groups had weaker outcomes compared to the control population, but foster children measured lower than adopted children in school performance, educational achievement, self-support capability, and cognitive competence. Children who were adopted at a ges 4-6 showed improvements in cognitive ability over judgment of conviction, and by their latish teens typically scored closely to their non-adopted or fostered peers. Negative outcomes were found to be far more likely for those in long-term foster care, regardless of gender, while adopted children had more favorable outcomes for school performance, cognitive test scores, educational achievement, and reliance on public welfare.Foster children had, on average, lower grades and cognitive abilities. Half of fostered boys had genuinely low or incomplete grades from primary school, compared to 1/3 of adopted boys and 1/5 of the control population boys. For girls, the data was 1/3, 1/6, and 1/12. Attrition rates for grades at the age of 16 were the following 13.4% for long-term foster care children, 4.3% for adopted children, and 2.4% for non-fostered or adopted children. By the age of 25, about 30% of fostered boys and 25% of fostered girls had only fuck offd a primary education. This is three times that of the control population, and twice that of the adoptees. Similarly, more fostered children were dependent on welfare at age 25 than children of the control group or adopted children.PAPER TWO Developmental outcomes after five years for foster children returned home, remaining in care, or adopted Similar to the first, this study compared the developmental outcomes of children who entered into foster care as infants and either returned home, were adopted, or remained in foster care long-term. The first years of a childs life are critical for proper development, particularly because younger children are more easily influenced and have the highest levels of brain plasticity (Llyod & Barth, 2011). Furthermore, previous research has suggested that young children in foster care are at a developmental risk compared to their peers. It is possible, then, that either reunification or adoption might alleviate these risks.The sample consisted of 353 children who were initially tested at 13 months, then again at 18, 36, and 66 months. The measure outments were conducted with the child and the childs authentic caregiver (whether that be biological parent, adoptive parent, or foster parent). The childs status at 66 months determined their group designation of adopted, reunited/in-home, or fostered. All of the sampled children had to have at least one allegation of maltreatment. Maltreatment was divided into type (physical, emotional, neglect), to adjust for confounding factors. Many different tests were used to assess cognitive and behavioral delays in the children.These included the Vineland Adaptive Behavior Scales Screener (which screens for problems in adjustive behavior and daily musical accompaniment skills), the Pre-school Language Skills (which assess developmental scope of language), the Kaufman Brief Intelligence Test (which assess cognitive development in children over 4 years), the Woodcock-Johnson III tests of achievement (which a ssess educational outcomes of children at least 5 years old), and the Child Behavior Checklists (which assess behavior problems in children ages 2 and older).Far fewer children in the adopted group were classified at high developmental risk. This group also scored substantially higher on cognitive stimulation and caregiver responsiveness. The foster care group had the lowest kernel in cognitive and language skills, but the highest scores in adaptive behavior. On these measures, adopted children and children who were returned to their homes scored relatively close to one another. There were no significant differences among groups in different poverty rates.In conclusion, reunification and adoption generally led to more positive outcomes, while long-term foster care typically resulted in poor developmental outcomes. These findings further suggest that adoptive placement specifically leads to improved social competence, language skills, and reading skills, but lower adaptive behavior development, while reunification mainly leads to better language development, math skills, and reading skills.PAPER THREE Developmental, Cognitive, and Neuropsychological Functioning in Preschool-aged Foster Children Associations with preceding Maltreatment and Placement History This study differs slightly from the first two by investigating the physical and cognitive developmental differences between foster children and children living with their biological parents. Typically, younger foster children display higher rates of developmental and mental health problems, which are often associated with maltreatment, multiple placements in foster care, and younger age at initial placement (Pears & Fisher, 2004). However, the majority of children receiving social and mental health services are over the age of 6, despite the fact that near children in foster care are between the ages of 2-5 years. Likewise, studies show that around 60% of the preschoolers entering foster care receive no treatment for developmental delays.The sample consists of two groups of children the first consisting of 99 3-6 year old foster children, and the second of 54 non-maltreated, same-age, comparable SES children living with their biological families. There were no major differences in mean child age, gender, or ethnicity between the two groups. Height, weight, and head circumference were used to measure physical growth over time. Neuropsychological federal agency was tested with the Developmental Neuropsychological Assessment, which includes 11 subscales in five domains visuospatial processing (visual and spatial information processing), memory and learning, sensorimotor guide, language, and attention/executive function.Cognitive function was measured with the Weschler Preschool and Primary Scales of Intelligence-Revise. Auditory comprehension and expressive communication were measured with the Preschool Language Scale-Third Edition. Executive function was further measured with two d ifferent tasks the stroop task, where, when a card with a sun on it is held up, the child must(prenominal) say day, and when a card with a moon on it is help up, the child must say night and the card sort task, where the child must first sort cards according to the shape on the card, and then according to the polish of the shape on the card.Height for age was positively associated with memory and language in both groups, although the correlation was slightly stronger in the foster group. Foster children were, in general, shorter and lighter, and had smaller head circumferences than same-aged children in the control group. Children in the control group scored higher than foster children in visuospatial functioning, language, and general cognitive functioning. There was a middling positive correlation between the age at which a child was first rigid into foster care and the childs executive function. Children placed in foster care before the age of 2 scored significantly lower on visuospatial processing, and children with more than the average number of placements had lower scores on executive functioning.IMPLICATIONS AND POSSIBLE INTERVENTIONSAll three of the studies show that children placed in long-term foster care typically have more developmental delays and behavioral issues than children who are adopted, reunited with their biological families, or never enter foster care in the first place.A general conclusion can be do in that foster children need higher quality care and support from their foster parents, caseworkers, and doctors. The negative educational trends found by Vinnerljung and Hjern (2011) suggest that foster children received less satisfactory support in their schoolwork than adopted children. Foster parents and caseworkers could benefit from lessons in how to interpret a childs behavior, nurture the child, and clear a supportive learning environment for the child. This is especially important for younger children. Limited caseloads for s ocial workers would allow for workers to concentrate on children and spend more time ensuring that they are receiving proper care.It is also clear that foster children would benefit from more earlier intervention services. Early development, as discussed by Lloyd and Barth (2011), is rapid and easily influenced by environment and quality of caregivers. Intervention services could prevent developmental delays, and lessen pre animate ones. Currently, resources within the system are limited, and largely consumed by older foster children. This is assumed to be because as children age, they become a larger threat to themselves (by displaying instances of self harm, suicide, increased violence, etc.), and thus, are referred to mental health specialists.However, most of these behaviors stem from existing conditions present at a younger age, and would be more easily controlled if addressed at the younger age. It would then also be important that these children receive consistent, satisfact ory health care. Screenings for developmental delays and other behavioral problems would increase the ability to catch these problems early on, and treat them when the child is still young, and potentially easier to help. As well, because foster children are constantly changing homes, it would be important to maintain records of these screenings, so that the information is eer readily available to caregivers, caseworkers, and doctors. This will ensure that the child is always receiving appropriate care.All three studies show the negative association between long-term foster care and a childs development, even with adroit caregivers and placement stability. Working toward the preservation of families and the avoidance of placement in foster care may benefit the child developmentally. If necessary, the child may be remove from the home for a period of time, but there should be increased efforts made to reunite child and parent. Increased programing for parents (rehab programs, teac hing about early childhood development, etc.) could increase such potential.ReferencesLlyod, C., & Barth, R. (2011). Developmental outcomes after five years for foster children returned home, remaining in care, or adopted. Children and Youth Services Review, 33(8), 1383-1391. doi10.1016/j.childyouth.2011.04.008Pears, K. & Fisher, P. (2004). Developmental, cognitive, and neuropsychological functioning in preschool-aged foster children Associations with prior maltreatment and placement history. Journal of Developmental & Behavioral Pediatrics, 26(2), 112-122. Vinnerljung, B., & Hjern, A. (2011). Cognitive, educational and self support outcomes of long- term foster care versus adoption A Swedish national cohort study. Children and Youth Services Review, 33(10), 1902-1910. doi10.1016/j.childyouth.2011.05.016

Psych Exam

Psychology is best defined as the science of behavior and mental processes. A cognitive psychologist would be most plausibly to design a study of the processes involved in decision making. Roy is interested in the details of the relationship between the brain structures and behavior. Roy is most likely a biological psychologist. The tasks of an industrial/organizational psychologist Include Improving supervisors leadership skills, creating maximum-efficiency work groups, and suggesting other research-based programs designed to Increase efficiency.An Industrial/organizational psychologist doing cross-cultural work finds that In Country Llama, the workers have the highest Job satisfaction when they are rewarded for their accomplishments and quality of work. Country Llama probably has an Individualist culture. Dan performs the same experiment on several different occasions. severally time he performs the experiment, his data suggests different conclusions.The results from Dawns experi ment lack reliability. Tall Is Interested In how alcohol consumption affects driving ability. He gives college students two, four, or half a dozen beers and then assure how many obstacles the students hit when they are in a driving simulator. The dependent variable is the number of obstacles hit. Dry. Summers investigated the influence of snacking on the onset of residuum in preschool children.One group of preschoolers ate a candy bar prior to bedtime, the other group ate nothing. Time until the onset of sleep was recorded for to each whizz child. In his experiment, eating or not eating the snack is the independent variable, and the time until the onset of sleep is the dependent variable. Cine operated the telephone switchboard t a large company, answering calls and directing them to the appropriate extensions.Remembering her introductory to psychology class, she decided that her situation was much like that of the dendrites and axons of neurons, because numerous people could ca ll her at one time, but she could send out only one call at a time. Since Gordon sustained sever head trauma, he can no chronic perform basic sewing tasks such as treading a needle. When he tries to play the piano, it is as if his fingers do not remember how to make the necessary movements, nevertheless for pieces he has known for years. Gordon most likely has damage to his cerebellum.

Impact of drugs on the social view of health

Stress Is a major Issue amongst teenagers and this washbowl be caused by a variety of Issues but today, I will be lecture about do drugs jest at amongst teenagers. Firstly, stress Is the bodys reaction to any sort of pressure. Chemicals are released into the blood and these chemicals give the body more energy and strength (Helped. Org (2014)). do drugs abuse is the dependence by teens to illegal substances which can give way to stress and can affect many different aspects of a teenagers life such as physical, emotional and social health aspects.This usually happens at the time of when teenagers are shifting from dependence to independence. However, in building a substantiative environment with friends, family and right(prenominal) organizations will aid in the development of knowledge and personal skills that will increase peoples abilities to deal with and overcome stress related to substance abuse. Drug abuse is a stress related Issue which can turn out an impact on any envi ronment on peers In school as considerably as the environment In a teenagers house. They realize an Impact not notwithstanding on the user but on their surroundings.Firstly, taking drugs can lease many stressful side effects as It may damage relationships at home and with friends, leisure as well as the performance in school. In families, the parents may be very attentive with the child which is involved with drugs, forgetting their other siblings and putting stress on them. But drugs do not only affect social health as well as physical health Heavy use of some drugs can damage organs and lead to illness and sharing needles to inject drugs can transfer serious diseases.Physical damage can also lead to further stress being implemented on the person taking drugs, as well as those who are willing to help or provide concur (National Drugs Campaign, (2014)). Over the last 30 days there have been various fluctuations In information relating to drug usage. Drug abuse amongst teens h ad Its major start earlier In the asss, where 42% of teens were Involved with drugs this declined In the asss, as 34% of Australians had admitted to smoking marijuana.The percentage of teens Involved with drugs has gone from 38% to 20% and the percentage of other drugs such as inhalants, LSI and for the first time cocaine, had declined in 1999. (Gallup, l. (2002)). To obtain recent data, a survey has been conducted amongst several teenagers in Helplessness broad(prenominal) to determine the extent of drug usage. It has been demonstrated that half of the students either have experienced drugs or know someone who has, and 80% of the eons that were surveyed find that drugs are a cause of medium or very high stress.Some evidence that software documentations the data collected amongst the Helplessness students is a study reported August 4, 2008, which reveals that stress and drug abuse of any sort are highly linked. The stress goes twain ways as one can lead to the other, setting up a vicious circle 73% of teens have admitted that school stress Is a primary reason for drug abuse ( Miranda, L. (2008)). In enounce to reduce stress related to drug abuse amongst teens, changes are necessary In order to successfully provide social Justice ND improve policies that are currently being advocated.Strategies such as looking even rehab have been suggested by Helplessness High students for those who suffer from the stress linked to drug abuse. Seeking help from an organization has been the most popular option amongst the teens surveyed in Helplessness High as 82% of the students have suggested this approach. This is due to the fact that in organizations, teens are often able to seek advice from a third party. This will increase the ancillary environment for teens as they can access more information in order to help them deal with their own issues.Organizations such as the Queensland Injectors Health Network, the psychogenic Health and Wellbeing that can be found in the Q ueensland government website, as well as the Australian Drug Foundation have been suggested as good options (SLD. Gob. AU, (2014)). The UDF is a well-known organization which deals specifically with drug and alcohol addiction and seems to have been successful as many suggested this option. Talking to a family member was the second best chosen option with 78% of the students votes followed by talking to friends with 66%.These two options may help those who are in the early stages of their drug addiction and can yet be talked out of it. The support provided by either one can help the teen to find a well-informed way to relieve stress or also, having someone to talk to can further help the teen. Although there are many services available and religious offering to help those in need, there are also many barriers which can interfere on the success of these initiatives. Barriers such as the denial of help as well as the inaccessibility can deprive many teens from overcoming their addic tion.This is why organizations should be positioned in spread out areas. An idea of a strategy could be a school based support group for those who are in need of help in Helplessness State High and this group would be funded by the government. Overall, we can see how stress and drug abuse are two major issues which are highly linked and one aspect can lead to the other. However, anyone who suffers from drug addiction is not trapped to the issue as there are many strategies which can offer the help needed and support the teen to going back to living a normal life.The UDF organization is, once again an option that teens can turn to. We can see that these strategies have been successful throughout the past years as the percentage of teens addicted to drugs has decreased. In conclusion, anyone can overcome a drug addiction due to the supportive environment provided by our school and pears, and social Justice that can be created for them if enough effort is displayed on their behalf and also on the governments behalf to continue in providing support and information.

The Crucible Critical Lens

Dolly Parton once said The way I see it, if you want the rainbow, you gotta put up with the rain. In former(a) words you have to go through struggle to see success. I agree with this quote because in my opinion nothing in life is give to you easily, you have to work through it and overcome many obstacles in order to get pleasing results . This idea is clearly established in the play The crucible by Arthur Miller. It is shown through the main characters legerdemain Proctor, Abigail Williams and exalted Hale.The Crucible by Arthur Miller was based on the capital of Oregon witch trials that occurred between 1692 and 1693. More than cc people were accused of practicing witchcraft and 20 were executed. Eventually the colony admitted the trials were a mistake and compensated the families of those who were convicted. Ever since, the story of the trials has become a symbol of seediness and continues to influence more than 300 years later. In the play John Proctor is a married man who p reviously had an affair with Abigail Williams while she was on the job(p) at his house as a maid.Eventually Johns wife, Elizabeth Proctor, becomes conscious of what was happening and she immediately dismissed Abigail. When the girls started accusing people of witchcraft, Abigail Williams accused Elizabeth Proctor because she treasured John to herself. Little did she know that John would begin defending his wife. He also pointed out his disbelief in the girls, fingers where then pointed at him as well. John Proctor then started challenging the court because of its lack of evidence this led to a petition signed by 32 neighbors in his favor.He was tried and put guilty and sentenced to death by hanging. Proctor was executed on mid-august of 1692. As he stood on the scaffold he recited the Lord s Prayer. This shows how Johns actions support the quote because although It didnt end happily he tried proving he was right and succeed because him praying made a drastic impression on the vil lagers as those convicted of witchcraft were not supposed to be able to perform such act. In The Crucible Abigail Williams is Samuel Parris, the ministers niece.Her and her cousin Betty where the first dickens accusers. Williams was 11 years old at the time. Everything started when all the girls were at the timber and Abigail was trying to put a spell on Elizabeth Proctor, since her health was already delicate. Her persona was to keep John Proctor to herself. She had become obsessed with him after their affair and couldnt seem to get over him. While doing witchcraft in the woods they get caught. after(prenominal) that they started faking being bewitched. They all start accusing people saying theyve seen them with the devil.Because of Abigail and Bettys claims to be possessed, false accusations would soon be made resulting in the death of 20 people and 3 women were arrested, including Tituba, Parriss slave and two other women who one was hanged and the other died in prison. This demonstrates how Abigails cruelty knew no boundaries. She didnt mind innocent people being killed just to hide the fact that she was the one attempting witchcraft in the woods. Abigail went through all that to keep her reputation and be seen as the victim, and she excelled.Reverend Hale is a young minister who has studied witchcraft in the hope of being able to destroy it in the name of God. Salems minister, Samuel Parris, had requested his presence so that he could examine Betty Parris. Reverend Hale is the one in charge of discovering who has marks of the devil for the witch trial. After seeing the horrors of the witch trial and watching the loss of both human and the justice rights he speaks out against them telling Judge Danforth that they are morally wrong. Reverend Hale then leaves the court after hearing Mary Warren accuse John Proctor of witchcraft.

BILABONG Australia †financial statement analysis assignment Essay

BILABONG Australia pecuniary statement summary assignmentACCT 5910- condescension summary and ValuationContents decision maker summary3Executive summaryThe purpose of report is to provide a comprehensive analytic thinking of Billabong International restrict. This report is earlier base on a trend depth psychology of Billabongs fiscal carrying into action dimensions from 2009 to 2011, common coat table of the balance sheet and income statement and analysis of Billabongs cash flows. Expect to provide a basis understanding of the come withs recent situation and future valuation. The lodge we compared, as a part of the surfwear labor is Quiksilver. Billabong is a multi-brand Australian company that was established by Gordon and Rena in 1973 in halcyon Coast. After decades of expansion and restructu proportionalityn of bullyization, Billabongs shares have publicly listed on the ASX. Using four-step to analysis Billabong which including business scheme analysis, invoice analysis, fiscal ratio analysis and prospective analysis that would help a great report in valuation of Billabong based on its current market situation.Business st directgy includes continuous acquisitions and emerges the likes of taking everyplace strong brand and the products in the same gross gross sales area and expansion internationally by reaching more than 100 countries around the world. Billabongs multicultural design of products featured unsanded-fangled and fashion captures client loyalty among targeted y egressh group. In order to ensure the companys accounting randomness reflects its business reality. Three steps of accounting adjustments are taken in preparation for m whizztary analysis, considers and valuation. First is to recast financial statements. This contains re-classifying accounts and preparing govern balance sheet and income statement, victimization both reported statements and development from footnotes. After that is to identify accounts that s hould be adjusted. By analyzing notes and reports, trine accounts are likely to containdistortion information provision for doubtful debts, leased assets and liabilities and goodwill. Last step is to make adjustments with accounting equation using more appropriate estimations and presumptions for the fiscal year from 2009 to 2011. The goodability of Billabong is un inactive from financial analysis.However, compare with the new(prenominal) competing company, Billabong has highschooler roe and ROA. The ability of Billabong sale its inventories worseningd as its inventory dollar volume ratio decreased. It had a good concur in fluidness with relative constant current ratio and quick ratio. However, it had decreased ability on unitize semipermanent asset and control its debt structure. Lacking of good control on debts structure and whitethorn face burden on debt expense, which may result a high financial risk and imperfect solvency. From prospective analysis, Billabong may be more profitable in the future aft(prenominal) the reorganization, the decreasing sales growing may be appeared at first a couple of(prenominal) year and then emergence again. The hard roe of the company will be high than pull round year the company may have improve performance in the future. And the company may borrow or finance the truth for the operation or correcting the dividend.1. Introduction1.1 BackgroundBillabong is a famous Australian company with many brands, such as Element, Kustom and Xcel. Their main products are including clothing, watches and boardsports hardware. As surfboard became more popular, the company constantly expanded its scale and exported its goods to Japan, ground forces and Europe during the 1980s, after that Billabong achieve leader in surfing area. In the recent ten years, Billabong had restructured its capitalization with growing global opportunities in the boardsports sector.1.2 Business Strategy AnalysisThe business analysis through three aspects industry analysis, competitive analysis and corporate strategy analysis.a. Industry AnalysisWith the expansion of world economy, surfing is not only a sport but as well a life style and that leads to high demand of surfing products. The digit offirms enters that industry encumber increase as its attractive potential mesh and less barrier to enter into that industry. some(prenominal) companies have more bargaining power compared with their supplier and customer as their famous brand and diversified products could encourage suppliers to have long term business family relationship with the company and satisfy the unique needs of customers. Overall, the prospects of this industry are optimistic it did not shock likewise much under the downturn of economy. shoping is an increasingly popular and puff up-known culture companies need to move innovation in order to satisfy customers needs.b. Competitive AnalysisAs crook of firms in the industry keeps increasing, grea ter competition force firms to earn more market share, innovate substitutes, experience unalikeiate products and be cost leadership to keep or improve their position in the industry. For example, somewhat of the products of Billabong and Quiksilver are similar, consumer will choose to buy the one with press down price if they have similar function, or buy the one with higher price if the product is different from others. Thus, a firm could run well if it has different products and lower cost compared with rivals.c. Corporate Strategy AnalysisBillabong hires different design teams for each different region to satisfy with customers from different cultural with different traditions and tastes. Billabong is expansion through strategic takeovers during last 10 years looking increase profitability through business synergies. lively the group has direct company on operations and more than 50 countries. sales are more than 100 countries under 13 different brands. The strategies expan sion has been changing along with companys issue. Billabong started with exportation of products to the USA and also licenced follow by relocated production off shore FDI is the current global expansion strategy. Billabong buys slang licenses to take control of global operations and requires the existing business.2. accountancy analysisBillabongs performance from 2009 to 2011 shown downward(prenominal)ly trends inprofitability and market performance, on that pointfore, it is possible that manipulation exists. In order to compare Billabong with other companies, standardized format and accounting equation-based adjustments are required.2.1. Recast financial statementsBeca lend oneself of the residuums in the format of Billabongs financial statements over years and that with other organizations, standardized financial statements should be made in preparation for accounting analysis, financial analysis and prospective analysis.2.2 Accounting adjustments2.2.1 Adjustments of gross s and provision for doubtful debts As discharge be seen in appendix, PDD (6.4%) has declined since 2007. wherefore PDD should be adjusted to 6.4% for the years 2008-2011. At the end of the fiscal year, the adjustments should be made to recognize PDD check to the adjustment calculation (Appendix A table (1)).2.2.2 Adjustments of leased assets and liabilitiesAs disclosed in Billabongs financial report, it leases plant, machinery and warehouses of large dollar amount in order to maintain normal operation. Most of the leases are sort out as run lease. Thus, we need to record leases as assets and liabilities on balance sheet to make similarity with other companies (Appendix A table (2, 3, and 4)).2.2.3 Adjustments of goodwillBy calculating the proportion of goodwill in wide non-current asset from 2007 to 2011, it can be seen that instead of being impaired, goodwill increased substantially from 12.94% to 42.13%. Set 12.94% as the standard level and over ranged goodwill could be rec ognized (Appendix A table (5)). 3. Financial Analysis ratio analysis include time series and cross sectional analysis has been performed in this case to take gumption investors direct understanding of the companys historical and recent performance.3.1 Dupont Analysis delivers 1Dupont (Billabong)200920102011NOPAT/Sales0.11410.12110.0989 AT1.48371.24281.4528= ROA0.16920.15040.1437Spread0.05970.09360.0945 NFL0.19930.18110.4031= Financial Leverage Gain0.01190.01690.0381NI security deposit0.09940.11280.0853 roe ( ROA + Spread * NFL)0.18110.16740.1818The Dupont entree can be decomposed into items as ROA, AT and net profit marginwhich exists downward in 2011 compared with 2009. However, Billabong makes the new borrowings in its balance sheet and increases its financial leverage in 2011. Moreover, hard roe is affected by ROA and financial leverage gain. As financial leverage increases and financial leverage gain increase, then ROE is back up to 0.1818 (almost similar to 2009) in 2011.Mo reover, the enhancement in AT and leverage ratio also variety show the ROE. The greater AT can increase companys revenue. The higher leverage ratio reflected the lower capital cost. Consequently, high ROE of the company is represented the strong profitability in the same industry comparison, and company can increase ROE through changing the leverage by borrowing.3.2 Operating solicitude AnalysisExhibits 2Profitability (Billabong)200920102011Pre-Tax Income Margin13.25%15.23%9.11%NI Margin9.94%11.28%8.53%EBIT Margin15.23%16.39%10.58%EBITDA Margin17.51%18.78%13.06%NOPAT Margin11.41%12.11%9.89%From bring out 2, these margin ratios has increased from 2009 to 2010, and declined between 2010 and 2011. Pre- revenue enhancement income margin is unstable especially dramatically decrease from 15.23% to 9.11% in 2010 and 2011 due(p) to revenue decreasing and expenses increasing. NI margin has been low, it had been increase from 9.94% to 11.28% between 2009 and 2010, but it again fell to 8. 53% in 2011. Billabong should reduce its operating and interest expenses to increase the margin of net income, EBIT and EBITDA. NOPAT margin clearly shows the operating performance of Billabong is unstable. Therefore, Billabong should reduce expenses to increase revenue.Exhibits 3Profitability (Quiksilver)200920102011Pre-Tax Income Margin-0.33%0.65%-1.82%NI Margin-3.70%-0.44%-0.91%EBIT Margin-0.33%7.03%2.13%EBITDA Margin2.45%9.78%4.79%NOPAT Margin-9.70%-0.34%-0.92%From comparison, Quiksilver has lower performance than Billabong just simply from profitability analysis. Because pre-tax income margin, NI margin and NOPAT margin have shown prohibit value from 2009 to 2011, only EBIT margin and EBITD margin are displayed positive value for these three periods. That indicates Quiksilver has higher expenses on interest, tax, depreciation and amortization than revenues.Exhibits 4From exhibits 4, Billabong has higher ROA and ROE than Quiksilver for the last three years. It must be pointed o ut that ROA of Quiksilver has decreased to -65.33% in 2009. Higher sales and expenses of the company can lead to lower ROE and ROA. In terms of ROA and ROE which might attributed tolower net profit margin. Moreover, compared to Quiksilver, Billabong has a relatively stable ROE and ROA from 2009 to 2011. Overall, Billabong has better performance than Quiksilver from probability ratio analysis.3.3 Investment charge Analysis3.3.1 Working Capital heeda. Inventory TurnoverExhibits 5Billabongs inventory ratio decreased from 3.08 in 2009 to 2.23 in 2011, its indicates that the ability of Billabong sale its inventories are decreasing. In contrast, Quicksilver also has decreased ratio but with higher overall level than Billabong. It implies that Quiksilver may face a problem of getting sufficient inventory to tackle sales demand.Exhibits 6b. Receivable Turnover RatioExhibits 6 indicates that Billabong operate on a course credit basis. As Billabong increase receivables with store benefit c ard, with low account receivable turnover ratio. This low ratio implies that Billabong might need to re-assess its credit policies in order to ensure the timely collection of imparted credit that is not earning interest for the firm.c. Payable turnover ratioPayable ratio decreased from 2.32 in 2009 to 1.77 in 2011. Its indicates that Billabong is taking longer time to pay its suppliers than before.d. Operating Working capital turnover ratioExhibits 7The working capital ratio of Billabong keeps increase from 5.17 in 2009 to 6.00 in 2011 (5.59 on fair(a)). Its indicates that the effectiveness ofBillabong using working capital to obtain revenue increase. However, the average ratio of Quiksilver (3.84) is quite lower.3.3.2 Long-Term Asset ManagementExhibits 8The net long-term AT ratio of Billabong decreased from 1.63 in 2009 to 1.25 in 2011. It implies that there is a decline trend of Billabongs long-term asset utilization. Compared with Billabong, Quiksilver have quite stable net long -term asset turnover (2.30,2.21,2.37 respectively), which indicate that Quiksilver could utilizing its resources to increase its production more efficiently.b. PP&E TurnoverExhibits 9From exhibits 9, there is a significant increase of Billabongs PP&E turnover ratio from 4.60 in 2009 to 6.41 in 2010. It implies that BBG use its PP&E efficiently during that period, however it following a critical decrease from 6.41 to 4.34 in 2011. As the sales increased by $13299 from 2009 to 2011, too much investment in plant and equipment may be the author of decreased PP&E turnover ratio. We can conclude that Billabong has been utilizing its fixed asset from 2009 to 2010 better than from 2010 to 2011.3.4Financial Management Analysis3.4.1Short-Term LiquidityExhibits 10Billabong200920102011AverageQuiksilverCurrent Ratio2.762.101.852.242.06Quick Ratio1.991.441.041.491.33Cash Ratio0.910.510.300.570.46Overall, exhibits 10 illustrate the liquidity ratios of Billabong did not change much from 2009 to 20 11 and Billabong had a good control in liquidity. From the analysis of the past three years, its indicated that the consistently falling of Billabongs current ratio is due to a higher level of liabilities relative to assets. Current ratio produces a value thats large than one means the current assets are greater than the current liabilities. Quick ratio also produces a value thats large than one implies that Billabong has very less dependency on inventory or other less current assets to liquidate short-run debt.3.4.2Debt and Long-Term Solvencya. Debt RatiosExhibits 11The value of Billabongs D/E decreased from 0.49 in 2009 to 0.36 in 2010 andthen increase to 0.53 in 2011. The reason for this change is that debt structure and policies of Billabong was changed during the three years. Similarly, as total debts change from 2009 to 2011, L/E and pass debt to righteousness had the same trend to D/E.a. Coverage RatiosBillabong200920102011AverageQuiksilverFinancial leverage ratio0.490.360 .530.460.45Interest Coverage ratio-2.34-5.33-4.41-4.03-4.59Exhibits 12 two firm have similar financial leverage ratio which means that each $1 of equity supports for $0.45 or $0.46 of total assets. The interest expense of the firm ($50840, $38367 and $50072 respectively) shows that Billabong had no good control on debts structure. Both firms interest coverage ratio is negatively charged indicates that they may face huge essay on debt expense which may result a high financial risk and weak solvency. Exhibits 13Billabong200920102011AverageD/E0.490.360.530.46Retention Rate (b=1-D/E)0.510.640.470.54ROE0.180.170.180.18Sustainable Growth Rate (g=bxROE)0.090.110.090.10Exhibit 13 shows the changes in dividend payout ratio, retention rate and ROE from 2009 to 2011, which are used to generate the sustainable growth rate. On average, dividend payout ratio is 46%, retention rate is 54% and ROE is 18%. Thus, the growth rate is 8%.3.5 Cash Flow AnalysisExhibits 14$000200920102011Net cash ( effl ux)/inflow from operating activities175,685187,24724,336Net cash (outflow)/inflow from investing actives-215,243-105,764-266,935Net cash (outflow)/inflow from financing activities249,873-192,102200,951Net (decrease)/increase in cash and cash equivalents210,315-110,619-41,648The CF from operating activities has increased from $175.685m to $187.247m, and then followed a rapidly decrease to $24.336m in 2011. Large payments to suppliers and employees are the main reason drive CF from operating activities down and further decrease net cash (outflow)/inflow from operating activities. The CF from investing activity had outflows from 2009 to 2011. As the Company has generally used its cash for purchase new subsidiary and this led to a net cash outflow in 2011.4. Forecasts and valuation4.1 Assumptions and forecastBillabong may be more profitable in the future after the reorganization as it will close underperforming stores based on the recent announcement. This would decrease expenses and i ncrease EBITDA and may further lead to a higher profit in next decade. Therefore, sales growth may appear downward sloping at first few years and then increase again. However, stable turnover ratio with approved new strategies may enhance the development of the company although the sales growth changes more than AT during the last few years.In addition, from the financial analysis, there will be a downward trend in ROAbut a rise in the financial leverage. As the result, it can be forecasted that the companys ROE may not vary obviously during next few years, which offset by the sum of ROA and financial leverage gain/loss. Therefore, some assumptions may be undertaken to forecast the performance of the company in the next decade and to estimate the PV of the company by using the aberrant earning valuation model.As the sales growth has a downward trend, the assumption for growth rate is 8.64% (average of last three years) in 2012 and it will keep constant in the future. It is forecast ed to be 9% during next 10 years as possible potential profit growth may appear after downward sales. For the NOPAT to sales ratio, it is assumed to 7.89% in 2012 due to an evident declined historical pattern. Moreover beginning net operating working capital to sales ratio might have a decreasing trend in the future based on the historical data.Thus, it is assumed to be 13.69% on average with puny decline than last year and it is believe that the change of working capital of the company is slight. As we use average method in this assumption, the beginning net operating long-term asset to sales ratio was 6.92% that also be considered as long-term rate as the change of the rate was insignificant. Ratios that we assumed based on historical (Appendix B table (1)).Overall, as the forecast under the assumptions, Billabong will have higher ROE and better performance than previous. The company may have insufficient operating assets to generate operating profit with relatively lower ROA. Fro m this, the company may borrow funds or finance equity to keep operating and pay dividends.4.2 Cost of capitalCost of capital is a critical method of evaluating companys asset, and it is using equation WACC=Vd/(Vd+Ve)*rd (1-T)+Ve/(Vd+Ve)*re, the cost of equity (re) is estimated by CAPM with a constant capital structure. Thus, it is assumed that the company has not change the capital structure. re is estimated to 16.13% in terms of the equity important (1.49), market premium (7%) and risk-free rate (5.7%) from market. The cost of debt is 6% according tohistorical YTM for the publicly traded bond. Therefore, WACC is reckon byExhibit 15Debt448,422 ($000)Equity1,109,155 ($000)Value of firm1,557,557 ($000)Cost of debt6%Cost of equity16.13%Tax rate28%WACC12.73%4.3 ValuationThe Discount Abnormal Earnings Valuation Model is a measure of determining the value of the company by abnormal earnings and discount rate. The abnormal earning is the difference between net income and change in equit y. Through forecasting the sales growth and NOPAT/sales ratio to forecast net income and working capital to sale ratio and long-term asset to sales ratio to calculate the change in equity.PV of equity is $436,567,619, which is discount by the abnormal earning each year and the number of share outstanding is 253,321,020. For that reason, the share price is estimated to be $1.72. A reduction in the abnormal earning during the assumption periods may result in lower share value compared with currently. (Appendix B table (2)).4.4 Sensitivity analysisThe sensitivity of the share price to changes was calculated in multi-factors, such as growth rate and beta. This analysis is performed to check how susceptible the company is to the changes in key factors in the future. Firstly, the share price shows a negative relationship with the growth rate when the growth rate changes to 10%.There will be 13% dropped on the share price if the growth rate increases by 11%. Secondly, the share price is in creasing if there is a decrease on the beta of the company. If the beta changes from 1.49 to 1.2, the share price will increase to $2.34, which closes to the companys current share price. Therefore, the share price is inversely affected by the change of beta.5. ConclusionAbove analysis would help a great deal in valuation of Billabong based on its current market situation. From time series analysis, Billabong had a good control in liquidity but it need to re-assess its credit policies in order to ensure the timely collection of imparted credit that is not earning interest for themselves, increase account payable turnover as it take longer time to pay its suppliers than before and increase interest coverage ratio to lower their financial risk and strong their solvency. hitherto though, the working capital ratio increase from 2009 to 2011, but very high working capital turnover ratio does not show good position of company because its shows company is operating with high short-term de bt obligations.From cross sectional analysis, compared with Quiksilver, Billabong needs to improve ability of inventory management, asset utilization and debt control. From prospective analysis, revenue of Billabong increased, but expenses also increases at the same trend, the performance of Billabong is assuage unsatisfied. From valuation, Billabongs share value still decreases with sales decrease. Therefore, we highly recommend that investors should hold their shares or do not buy it if Billabong continuously cart track business as its historical model.Reference1. Billabong Investors Home. http//www.billabongbiz.com(Accessed 5 April 2012)2. Hoovers company profiles Billabong International Limitedhttp//www.answers.com/topic/billabong-international-ltd(Accessed 3 May 2012)3. Hoovers company profiles Quiksilver, Inc.http//www.answers.com/topic/quiksilver-inc(Accessed 3 May 2012)4. Palepu, K. G., P. M. Healy, V. Bernard, S. Wright, M. Bradbury, P. Lee. (2010) Business Analysis and V aluation Using Financial Statements Text and Cases. Asia Pacific Edition, Cengage Learning. 5. Quiksilver Investors Home. http//www.quiksilverinc.com(Accessed 13 April 2012)6. Calif, A.V. (2011), SIMA Retail Study Confirms world-shaking Changes-Surf Industrys Footwear, Westuits and Board Categories Lead Growth in 2010. http//www.sima.com/news-information/news-detail/id/108.aspx (7 August 2011, accessed 8 May 2012)7. Calif, A.V. (2009), Surf Industry Riding Out the Economic Storm Findings of SIMAs Retail Research Show resiliency of the Surf/Skate Industry. http//www.sima.com/news-information/news-detail/id/68.aspx (7 Sep 2009, accessed 8 May 2012)8. Wikinvest. http//www.wikinvest.com(Accessed 13 April 2012)AppendixAppendix A Accounting AnalysisTable 1 Worksheet adjustments to BBG balance sheet and income statement ($000)Asset = Liability + ShareCap + RetEarning + Rev + Exp +Div 2009 prep1-6,964 -6,964Deferred tax21,797 1,7972010Provision-12,306 -12,306Deferred tax3,507 3,5072011Pr ovision-14,169 -14,169Deferred tax989 989Table 2 Worksheet adjustments to BBG balance sheet and income statement for year 2009 ($000)Current AssetsNon-Current Tangible AssetsDeferred Tax Assets=Current DebtNon-Current LiabilitiesIncomeEquity bear Earnings13153,484153,48424-29,162-29,1622-8224-8,2243545,27646-32,997-12,2794102,373102,37357-24,159-24,15968-2,280-2,2807957,824-57,824Total202,536-10,504=57,824165,0366,558-37,386Table 3 adjustments to BBG balance sheet and income statement for year 2010 ($000)Current AssetsNon-Current Tangible AssetsDeferred Tax Assets=Current DebtNon-Current LiabilitiesIncomeEquity kept up(p) Earnings162,4501-49,247-13,203299,70999,7093-38,069-38,0694-894-894558,201-58,201Total61,640-89458,201-7,73910,284Table 4 adjustments to BBG balance sheet and income statement for year 2011 ($000)Current AssetsNon-Current Tangible AssetsDeferred Tax Assets=Current DebtNon-Current LiabilitiesIncomeEquity Retained Earnings162,8571-50,273-12,5842241,476241,4763-37,5 63-37,5634-1,017-1,017594,662-94,662Total203,913-1,01794,66296,54111,693Table 5 adjustments to BBG balance sheet and income statement ($000)Asset = Liability + ShareCap + RetEarning + Rev + Exp +Div 2009Goodwill10-16,652 -16,652Deferred tax114,296 4,2962010Goodwill-30,967 -30,967Deferred tax8,826 8,8262011Goodwill-36,161 -36,161Deferred tax2,524 2,524Appendix BTable (1) assumption of the ratio

Kim’s TimeLine Essay

There was a time when textbooks, a chalkboard, a set of encyclopedias, and a map of the world were considered t distributivelying helpers boy how times wipe out changed. Today all we suffer to do is flip on a figurer, and the world comes to us in a matter of seconds. In immediatelys modern world teachers have access to an some infinite inwardness of instruction. There are so many websites out there that cater stringently to educators, and their students.For example, one website that seems to be getting a lot of attention from teachers and their students, is one that a teacher created herself her hold is Kim. I will explore her website, along with other teaching aid websites, and see how they rate against hers. freshman of all lets start with a basic outline of my research paper, and in what appearance we are exit to address the following questionsExplain the method of Kims TimeLine?Give a inspection of Kims ideas, and how they relate to the TimeLine?List the advantages o f Kims Time Line, from a students point of visualize?List the disadvantages of Kims TimeLine, from a students point of view.Introduce other teaching aid websites, along with journal members, and how they measure up to Kims TimeLine?Give an objective conclusion of the researched material?The target of this research paper is to focus on these six questions.Explain the method of Kims TimeLine? When you click onto Kims TimeLine, a picture of a chalkboard, and an idiomKims Korner for Teacher Talk, along with a yellow sun, pops onto your com spueer screen. Then in large black letters the following slogan grabs your attention IDEAS FOR TEACHING THE typography PROCESS. Kim then introduces five steps of her writing process Prewriting, Writing, Revising, Editing, Proofreading, and Publishing. The webpage excessively includes General Ideas For commandment the Writing Process, much(prenominal) asWriting Process Timeline, The Writing Process, Implementing the Writing Process, Sample Listi ng of Specific Writing Strategies (for each step), Ten Ways to Emphasize the Writing Process. (Writing Process 2006)Give a Critique of Kims Ideas and How They extend to to the TimeLine? To be honest with you, I really enjoyed browsing over Kims TimeLine website, and found it to be non-threatening. The information was laid out in an extremely simplistic manner, and I could actually picture students, along with their instructors, utilize and benefiting from the information that this teaching aid provides.List the Advantages of Kims TimeLine, From a Students Point of go steady? As I already mentioned, the TimeLine is incredibly easy to operate. If you view the TimeLine through a students eyes, you will pry how the website makes you feel totally comfortable, and non-intimidated, in regards to the information that the TimeLine is trying to convey to you as a student.Before I began this research paper, I have to admit that I was filled with a certain amount of anxiety, and extend I w ondered if Id do a satisfactory job. yet then to my delight, I sight that Kims TimeLine had a section that dealt with apprehension, and worry. Her coping strategies with writing anxiety goes as followsFocus your energy by rehearsing the task in your head.Consciously stop the non- rich comments running through your head by replacing them with productive ones.If you have some rituals for writing success, use them. (Kims TimeLine 2006) So stepping into a students shoes, I put her coping tactics to the test and guess what? They actually worked. I honestly thought that the TimeLine, interchangeable the majority of website based teachers aids was going to be extremely unmanageable to understand. Either that, or it was going to be some archaic method of teaching. Without sounding like some cheesy infomercial, Im glad that I was wrong, and would strongly recommend the TimeLine to both students, and their teachers.List the Disadvantages of Kims TimeLine, From a Students Point of View? On ce again I put my feet into a students shoes, and tried especially hard to find the tiniest amount of a blemish with Kims web-sight, but was unsuccessful in my efforts. The only fracture I could find, didnt involve the content of her TimeLine, but instead, how long her website address is addresshttp//www.kimskorner4teachertalk.com/writing/ habitual/timeline.htmlIntroduce Other learn Aid vanesites, Along With Journal Articles, And How They Measure Up To Kims TimeLine? As this assignment mentions in its instruction manual, the internet provides you with so much information that you must(prenominal) pause a dandy taste when it comes to the value of a website. I totally concur with this assertion, and acknowledge that there is an endless amount of facts and figures over the internet. But how does this relate to Kims TimeLine? Well in accordance to the assignments instructions I have chosen five teachers aids websites, and will evaluate them. I will also distinguish how these webs ites measure up to Kims TimeLine. The first website is called Free Teaching aid.com. I found this website to be formless and vague, kind of like a big budget movie with a plot that goes nowhere. (freeteachingaids.com 2006) The second website was alone titled, Teachers Aids. This website was similar to Kims TimeLine. It was non-intimidating, and from a students perspective, they will appreciate the fact that it is straightforward, and to the point. But nevertheless, as far as a writing tool goes, I would still have to put Kims TimeLine above this one. The third website I chose was Java Applets for Teaching of AstroPhysics. Demonstrating the contrast between Kims TimeLine, and this website, would be like comparing apples and oranges theyre entirely diverse. Astrophysics is not my cup of tea, however, if it was, I would urge those who plan a career in this field to definitely click onto this website. It has an easy to follow table of contents, along with an simple(a) simple to follo w outline. Key words are highlighted, and accompanied with a unproblematic definition. (JKs Applets for Teaching Astrophysics 2006) The fourth website is called Classic Teaching Resources, and deals with mnemonics, and other little tricks of the trade to help you as a student, rook course material. It focuses on grammar, music, dates and other numbers, and association and other subjects. The site was started by David Parsons, he articulates As a former teacher of Latin, Greek and Classical Civilization for nearly 25 years I have accumulated much teaching material to share, and also know what I would have liked quick available. This site is a small contribution to the teaching of classical subjects. (Classic Latin Greek Teaching Aids 2006) The fifth, and last website I will compare to Kims TimeLine is termed Parliament Teachers centre. Like the first website, Free TeachingAids.com, I found it to be unclear, and for lack of a better term, some what indistinct. It tins an index of t opics, so that you potbelly discern a subject that is to your liking but thats about it. It was designed to educate would be British citizens in attaining their British citizenship credentials. (Teaching Citizenship Resource Centre and British Citizenship Teaching Aids 2006) Teaching aids arent only getting noticed on the internet, theyre also getting acknowledgment in the stilt media, such as magazine articles. In an influential article, written by Greifner, she reports To help teachers discuss the virtually current particulars. calendar weekly Reader is also launching electronic Classroom News Breaks this fall. The e-mailed lesson plans will offer age-appropriate information, reproducible pages, and the web links about significant world news within 24 hours of the events occurrence. (Education week 2006) Another article gives teachers an internet Book Study sop upGary Paulsen webenglishteacher.com/paulsen.html This rich alternative haslesson plans and activities for all ag es. Plans include an integrated unit and a PowerPoint guide for creating a survival kit.Teacher Cyber guide Hatchet sdco-k12.ca.us/score/hatch/hatchettg.htm This lesson plan contains language arts content standards, student activities and web resources for a study of the book.Hatchet, mce.k12tn.net/survival/hatchet/hatchet.htm A well-organized resource divided by book chapter. Each chapter sept has online (and printable) questions for your book study, activities that tie into the chapter themes, writing lessons and vocabulary activities. (Teaching Prek-8 2006) The web isnt the only electronic medium that todays teachers are using in the classroom. Video games have made it into our scholarly institutions, as this article declares Video games teach deductive reasoning, memory, strategies, and often, content area knowledge. Teachers like Bill Mackenty, a computer specialiser at the Edgartown School on Marthas Vineyard, give praise to Playstation. It states that with teacher involveme nt and guidance, video games can be a powerful classroom learning tool. (Instructor 2006)Objective Conclusion of the Researched Material In this dissertation I have presented you with both facts, and opinions. In order for me to remain free of any bias, I must end this research paper by equally supporting, and expressing the disadvantages of Kims Timeline, and teaching aids like it. To summarise things up I concur that Kims TimeLine, and websites like hers are needed in todays schools however, like the instructions of this assignment states, There is so much information over the internet, that you must develop a discriminating taste, when it comes to the value of a website.ReferencesGreifner. L. (2006. September 27) . Weekly Reader Gets New Look. Education Week 26Mitchell. K. (2006. September ) . Getting to the Heart of a Story. Teaching PreK-8 66-66.Instructor. (2006). Playing To Learn. Instructor 116. 22-22Classic Teaching Resources. (October 25, 2006). Classic Latin Greek Teach ing Aids. Retrieved October 25, 2006 from the homo Wide Web http//www.parsonsd.co. uk/teaching-aids.phpFree TeachingAids.com. (October 25, 2006). Educators Progress Service, Inc. Retrieved October 25, 2006 from the World Wide Webhttp//www.freeteaching aids. ComJava Applets for Teaching of AstroPhysics. (October 25, 2006). JKs Applets for Teaching Astrophysics. Retrieved October 25, 2006 from the World Wide Web http//astro.u-strasbg.frkoppen/apindex.htmlKims Korner for Teacher Talk. (October 25, 2006). Writing Process. Retrieved October 25, 2006 from the World Wide Web http//owl.english.purdue.edu/ /handouts/gl_anxiety.htmlParliament Teachers centre. (October 25, 2006). Teaching Citizenship Resource Centre and British Citizenship Teaching Aids. Retrieved October 25, 2006 from the World Wide Web http//www.explore.parliament.uk/parliament.aspx?id=17Teachers Aids. (October 25, 2006). MFL 195 Teachers Aids. Retrieved October 25, 2006 from the World Wide Web http//facweb.furman.edu/peco y/mf195/aides. html