Three chapters READING quiz (( Aboriginal Treaties ) Assignment

Three chapters READING quiz (( Aboriginal Treaties ) - Assignment Example Marriages were mostly used by non-natives to cement social, political and economic links with the natives. Strangers who were perceived beneficial to the aboriginal people were incorporated into the kinship ties via association/adoption. For example, prisoners of war were incorporated into the society rather than being executed as a way of ensuring the communities had higher numbers (Ch. 1, pg. 5). A ceremonial ritual would be carried out for traders or new comers as a welcome gesture. Together with the community leaders, the newcomers would smoke a ceremonial pipe and then enjoy meals. This ceremony would be repeated severally in the future to strengthen the already existing relationship and also to renew it. However, this ceremony was only meant for non-native traders and not for prisoners of war. The latter were given a feast of honor by the families that adopted them after which they became full members of the community. (Ch. 1, pg. 6) Due to their extensive reliance on skills, knowledge and labor and the good treatment that the Europeans enjoyed at the hands of the natives, they easily accepted the terms of their hosts. This was essential for trade as the natives would allow them to operate in their lands. They would also give them permission and access to navigation routes, market for their goods and also protection. (Ch. 1, pg. 10) Gifts were extremely important to aboriginal people since it assured them that their trading partners had not backtracked from their initial relationship. To them it was a sign that there was no enmity between them. Furthermore, gifts could be used to wipe away tears in the event of a misfortune like death of members or business loss. Aboriginals claimed that gifts could ‘clear the throat’ and ‘unstop the ears’- expressions that translate to honesty and loyalty respectively (Ch. 1, pg. 18). The act of gift giving among the natives was practiced

Supplier and Vendor Selection Process Essay Example | Topics and Well Written Essays - 500 words

Supplier and Vendor Selection Process - Essay Example Their past records supplying for other companies should be viewed. This is to enable the company determine the risks at hand. If a supplier has a record of giving excuses and not delivering the supplies on time, they should be discarded as quickly as possible. This is also to prevent falling behind schedule due to problems caused by a party external to the company. The second element in choosing a supplier is their experience especially in serving similar contracts. In essence, the focus should be selecting the very best of suppliers to meet the needs at hand. An experienced supplier would have many benefits to the company. First of all, the supplierwould provide the very best quality materials. Secondly, their experience would most likely make them efficient and thus the chances of a discount are high. The third aspect to consider in choosing the supplier is the costs demanded by the supplier. Every company focuses on the reduction of costs and thus such a contract should be aimed at the same. The supplier with the least costs but with the best quality should be chosen upon. The fourth element to base the choice upon is the amount of time available. Given that time is more or less limited for all activities, the company that can deliver the supplies required in the shortest time possible. This should consider the quality of supplies since the hurry could be an opportunity to deliver poor quality items. The last element is the future plans of the company. If the company aims at a continued contractwith the supplier, a strict set of requirements should be used since all the company should focus on is obtaining the best supplier both in terms of quality and reliability. In conclusion, it is you, as the chief executive of this company, should endeavor at ensuring that the supplier given the deal is the best as stipulated by the conditions of the contract at hand and the goals of the company.

Strategic Procurement Issues Inherent In A Hospital Project Construction Essay

Strategic Procurement Issues Inherent In A Hospital Project Construction Essay Health care of the society is the top concern of the government. The government is committed to improving the quality of care of all the people therefore the poor quality of the hospital building became a major concerned. The aim is to restore and improve quality delivery of health services to local community required betterment of the facilities. There are two options available in front of trust and as per the government report; the trust has forty eight months to improve the hospital infrastructure. The chief executive and the head of the estate at trust with the consultation of central government have been provided two options: To renovate the existing building or To build a new hospital on a derelict site, this was formerly used by heavy industry owned by city council. This project is an assessment of the procurement options design and build novation procurement method under the private finance initiative and the issues that awake using the strategy during the project. After examine the carefully and assessing the entire clients (the Trust) requirement, for the proposed hospital, the report recommends building of a new hospital on the derelict site and the use of design and build procurement system. This is because the design and build procurement option offers cost effective, time bound, good quality and sustainable project delivery. The proposed design and build procurement system has the characteristics of achieving the issue of clients requirement appropriately and under the P.F.I. (private finance initiative) will give the best value for money with a focus on the public sector procurement as mentioned in the project brief. It also leads to time savings and achieve value for money and the required quality as per ground situation. The report also assessed the risks using the supply chain management under the scheme of private finance initiative involve in the project and their solution as the success of the project is concerned. Finally an effective supply chain management with T.P.I (Third party inspection) procedure has also been recommended for efficiency in the project delivery in order to meet the quality standard required by the hospital trust. INTRODUCTION This report seeks to address all the strategic construction procurement issues inherent in a hospital project and an appropriate advice given to the chief executive of the trust. The process is to map the effective stakeholders and their influence on the project. There is a brief of the project from initiation through design with drawing of the new build building as required a lot of detailed changes to convert the derelict industry into hospital building to make a proper use of the building as well as to make an appropriate use of the surrounding of the building. The operation and maintenance after construction in long run is major concern for providing a better and superior quality of services therefore design and build novation under P.F.I. is best option available. STATEMENT OF WORK 2.1 Scope of project Client Objectives: The time seems to be major constant as the Trust has given only 48 months of time to improve the structure and facilities and for the Construction of the new hospital building. As the estimate are final to 90 m Pounds the cost is also the major constant for the client obtained the certainty in cost to obtain best value for money with in a focus on the public sector procurement. The quality is also the major concern as the new build site is not developed properly and the trust has to Develop the road works, parking, hard and soft landscaping, drainage and other external works for the use of hospital running, Provision of office accommodation, a restaurant / cafà © area and obviously some form of warehouse and delivery areas. To preserve and develop and make appropriate use of the existing flora and fauna at the site of new build to make it more eco-friendly environment for the hospital patient and working of staff. It has been assumed that the present derelict bridge is just opposite the site of the building and near the flora and fauna to make appropriate use of the derelict pedestrian bridge, it can be develop for the site scene / landscape. s The study prevails that there is an existing mineshaft, which has to be close effectively so that it should not effect the environment of hospital surrounding in the future. There is need to adopt the construction management program to maintain supply chain management for effectively completion of project on time and maintain quality of material used and be in cost effective. Scope of the project Supply chain management procedures to be adopted so that all the material should be procure well in advance for the timely completion of the project and as all the material has to be procure by contractor by T.P.I. (third party inspection) by Independent body has been suggested to maintain the quality if the material used. The client has maintained PEP plan for control and performance measurement Comparison between the New builds site and Old Refurbishment. The following point has been taken to make comparison between New Building by using derelict industry and the Refurbishment of old building as per the client (TRUST Hospital) requirement. The survey team after analysing following points comes to conclusion that the use of new building for the construction of the hospital as an appropriate decision: The Survey team has assumed that the derelict Industry was closed due to competition in market and is not old more than 10 years as the Old hospital is approximately 70 to 80 years old. So structure needs more maintenance after construction It has been analysed that the old building has to be Control demolished which is still not possible with the current running of the hospital in the existing building. As its suggested that ramp should be used in hospital instead of stairs for the movement of patient from one floor to another and even in case of emergency like fire etc, when lifts cant be operate. So the construction of ramp in new building is easy else its very difficult to provide ramp in the old building. The derelict industry site has a wide range of flora and available in its surrounding which is best for the environmental policy of the NHS. From the studies of project brief it has stated that the hospital used for the acute care and accident and emergency so there will be a helipad will be preferred to Trust at the tar macadam area for landing of helicopter in case of emergency services through the helicopter, as well the new build site is well connected to road for quicker services through road as well. The new build site is also have provision for the future extension as the development are taking place in the surrounding area over decades of time. The specialist installation such as heating, ventilation and air condition is easy in new building while during the refurbishment it is quite difficult to replace the new with old one and difficult in after maintenance. Project Stakeholders The stake holders are important part in the overall process of project success so all the beneficial stakeholders are identified related to subject and their influence are clarify properly. As Walker and Marr states that a stakeholder is a term used for individuals or groups who have a connection to or an association with an organisation. They have a stake, claim, or vested interest in the day to day operation of the Project. The only way of business to know their value will be to determine exactly who their stakeholders areà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..and to ask them. The urgency to adapt to stakeholder power and leverage it as a business strategy is not just a business fad; it is a winning approach and the more satisfying way to do business - WIN WIN Solution. A commitment to sustainability is broader, deeper and of substantially greater strategic value to a company than merely reporting on environmental outcomes. One goal of sustainability initiative is to realize long term business benefits by building non-financial performance measures- issues key stakeholders care about into business processes. When we have gained commitment from our stakeholders, it enhances our business performance, growth and higher stock value over time. All stakeholders may be important, but nobody said they were all equal. (Walker and Marr, 2001) Extended Stakeholderism The customers, employees, and owner, or investor would consider the immediate, or core, stakeholders because these are the one we live with every day. But as in our families we have close relation with and obligation to the rest of the family as well the extended stakeholder of the business. Business depend upon on forging powerful relationship with what we would call extended stakeholders, those individuals outsides an organization beyond customers who are important to the business, such as suppliers, alliance partners, community leaders, the media , and the government. Immediate Stakeholders Extended Stakeholders Individual investors Institutional investors Customers Employees Unions Suppliers Alliances Partners Industry associations Local communities Consumer/ user association Special interest group Media Government regulators Competitors Outside board directors The general public (Beyond local communities) Financial Analysis Lenders Education leaders The Status of Stakeholder Loyalty There is value in evaluating and classifying stakeholders according to different levels of commitment to the project. Survey research can/has determine peoples position regarding the firm and their loyalty to it. Their answers can/has used to position the stakeholders on a spectrum of: . How positive or negative they feel towards the firm and . How likely or unlikely they are to remain loyal or continue supporting the firm in the future. We would normally people in a simple matrix. There are four possible combination of high and low attitude and behavior in this matrix, so we can segment the stakeholders as being truly loyal, accessible, trapped, or high risk Behaviour Positive Negative Truly Loyal Accessible Trapped High Risk High ATTITUDE Low The successful stakeholder relationship passes through four stages, called the Four Gates of Engagement: Awareness, Knowledge, Admiration, Action. (Walker and Marr, 2001) Recognition of project through from initiation through design, construction, operation, and maintenance and their consequent impact on the project procurement issue As the new build site has proposed the following points are suggested for the construction As there was a mine shaft present in the surrounding of the site so a case study has been done to investigate the Bearing capacity of soil for the construction of the hospital building. The design is be eco-friendly basis on the following points: Their should be proper ventilation and natural Light and air arrangement for the patient health and to keep staff working spirit up for efficient working. The CLC (cellular light weight concrete) blocks are hollow and hence will help in maintaining the internal temp of the room and also help in reducing sound level as hollow blocks are good insulator of heat and sound. As CLC blocks are also help to eliminate the crack between the brick and concrete and hence it will lead to less maintenance in future better value for money. The large tar macadam area, surrounding the site should be developed as the helipad so that the emergency cases can be carry through the helicopter easily and further land will be used for the recreational activities of the staff. The derelict bridge can be developing for pedestrian to cross the road as the adjacent arterial road will become more congested during peak periods. Risks Miler and lessard (2001) states that the successful projects are not selected but shaped with risk resolution in mind. Risk is the possibility that event, their resulting impact and dynamic interactions may turn out differently that anticipated and construction is nothing special compared with other industries because we simply carry out projects to a specified timescale using teams of specialist for design and construction by marshalling appropriate resources to overcome the physical and technical power involved. So to manage risk is most important for the successful completion of project in Time to keep certainty in cost and achieve the appropriate quality. RISK MANAGEMENT PROCESS RISK ASSESSMENT IDENTIFYING HAZARDS Assess probability and consequences Priorities Risk control measure Remove Contractually Insurance Retain Self finance Reduce Eliminate/substitute Reduce chance Reduce effect Residual risk RISK MANAGEMENT Risk management Process (Gunn 2008) To monitor the risk, the risk register should be maintained at site RISK REGISTER Item Description Risk Without control Controls Residual risk Action H M L Cost Impact Time impact` Others (CIOB (2002) (Chartered Institute of building code of practice for project management, 3rd edition. Blackwell edition) PROCUREMENT RISK Procurement Method Balance of Risk Client Contractor Traditional Lump sum Client Led design and built Contractor -led design and built Management contractor Construction management Contractor Finance (PFI) Finance Design Construction Finance Design Construction Finance Design Construction Finance Design Construction Finance Design Construction Finance Design Construction Hughes and Murdoch (2000) states that the apportionment of risk in design and build contracts is unique among procurement methods. This uniqueness is brought about by the single point responsibility and by the nature of the relationship between employers requirement and contractors proposal. The following points are considered for risk management in Design and built: Money Completion of the project Default by employer or contractor Time Quality Measurement of performance and benchmarked Akintoye, Beck and Hardcastle (2003) indicated the PEP plan is a live, dynamic management document that records the project strategy, organisation, control procedure and responsibilities. It is updated regularly during the projects life cycle and used by all parties both as a means of communication and as a control and performance measurement tool. Value management and other activities lead to the completion of various reports that are contained in the PEP. Examples of items that PEP should contain are: The options appraisal incorporating the clients value system. The user needs the strategic brief. The performance statement of all aspects of the project, the project brief The project execution strategy The form of contract, partnering agreement, etc The contract specifications / drawings etc Project reporting procedure and particularly the procedure for information distribution, and communication, between the clients project team consultant and the contractor The executive summaries and action plan from value management workshop reports The risk management strategy and latest risk analysis The required completion date including for any phase Holroyd (2003) considered that this is not about lowest price, but ultimately about best overall value for money. Partnering implies selection on the basis of attitude to team working, ability to innovate and to other efficient solutions. We think that it offers a much more satisfying role for most people engaged in construction and the introduction of performance measurement and competition against clear targets for improvement, in terms of quality, timeliness and cost, as the principal means of sustaining and bringing discipline to the relationship between clients, project team and their suppliers. The evidence we have seen is that these relationship, when conducted properly, are much more demanding and rewarding than those based on competitive tendering. There are important issue here, particularly for the public sector. He also consider Latham Report that effective partnering between client and contractor with teamwork and a win-win approach helped to bring the Sizewell nuclear p ower station to completion on time and within budget. But there is still scope of improvement in productivity and cost reduction, especially if design and construction team could be kept together. Akintoye, Beck and Hardcastle (2003) consider that PFI is the principle model of PPPs in the UK NHS. Procurement Route: To choose an appropriate procurement strategy is most important to achieve value for money, cost certainty and in time and of best quality. Holroyd (2003) states that clients who know what they want, who do not change their minds, and who states clearly what they want, tend to procure projects that do represent value for money. As Masterman states that the formulation of the most appropriate strategy is one of the most important tasks that the client has to undertake the projects life. The project strategy consist of a number of sub strategic areas, which needs to be examines in detail so that appropriate decisions can be taken as to which sub strategy should be adopted. The following points should include: Milestone schedule time; Quality; Financial objectives, funding and cost planning The role of the client and the third parties; The client project objectives; Environmental issues; Safety; Legal and insurance issues; Technical and design philosophy Project/ work breakdown structure; Risk management; Project constraints; Public relation/ communication The appropriate method of procurement mostly depends upon the following: Whether the organisation is publicly or private owned or funded The level of knowledge and experience within the organisation in dealing with the construction industry and implementing building project. Whether the project is needed by the client to accommodated his/her own industrial or commercial activities or whether the project is needed to lease, or sell, to other. The activities carried out by the organisation and the resulting project typology. Categorisation of building procurement System: Separated Integrated Management Discretionary Oriented The Conventional System Design Variation British partnering of Property Build Design Federation Build System Package Develop Construction Deals Management Turnkey Construct Management Design Contracting Manage Design and Build In DB there is a single point responsibility for both the design and construction of the project. The clients benefits from the contractors expertise early in the project. Research (Gidado and arshi 2004) suggest that there may be as a many as six versions of design and build. For instance, Rawlinson (2008) reports on the recent successful use of develop and construction with a two stage tender and tendering arrangement, a novated design, open book accounting and with the risk and value benefits of a Collaborative approach all on the same project. Types of Design Build Arrangement Extreme Variety A Employer led Design Develop and construct Design and Build (Single stage tender) Z Contractor led design Design and build (two -stage tender) Negotiated design and build Design and manage Turnkey The client may wish to provide the contractor with minimal information in the form of an outline brief. This will leave the design and built contractor fully responsible for the conceptual and detail design in order to meet the employer requirements. An alternative twist on develop and construct, is to novate the architect or design team to the contractor once the contract has been awarded. This variant is known as novation design and build because the clients architect, and may be other member of the design team, are legally passed over to the contractor in order to produce the detailed aspects of the design. The novation arrangement should be agreed with the architect when he is first appointed. In this way, the client will maintain an interest in the design but the contractor will pay the continuing design fees through to contract completion and become responsible for the entire design. The Tender documents will contain details of the clients consultation and the proposed novation procedure, together with a requirement that the contractor who is eventually awarded the contract will have to accept responsibility for the total design of the project, including the initial work carried out under the clients aegis. In other words it is as if the consultants by the contractor, including the level of fees, have been predetermined by the client, although normally this is a matter for negotiation between the contractor and the design team. DESIGN AND BUILD CLIENT LED DESIGN RELATIONSHIP The Team being novated to DB Contractor . (WILEY-BLACKWELL, 3rd edition, construction planning, programming and control 2009: 32) Procurement strategy The choice of building procurement systems available to clients is now so wide that the need to carry out the selection of the most appropriate method depends upon the critically study of the clients (TRUST) requirement in a disciplined and objective manner. (Masterman 2006) The procurement of a construction is chosen upon the clients project requirement and a balance between time, quality and cost. After considering entire client requirements critically and the forecast budget. JCT Design and Build novated system contract is most appropriate for the construction of hospital for the trust as According to International Commission on building (CIB W92) the procurement process is a strategy to satisfy clients development and/ or operational needs with respect to the provision of constructed facilities fro a discrete life cycle. (Masterman 2006:26) Under the JCT 05 design and build conditions, it is perhaps worth noting the practice that the employer identified a design team and the same team will become the contractors team once the contractors is appointed under a design and build form of contract and the payment terms may be either stage payments or periodic payment. Periodic payments are normally monthly, whereas stage payments are based on agreed cumulative values linked to stages or milestone as stated in the contract particulars. The payments period from the payment request date is specified in the contract as 14 days. (Davison 2006) We can write it as the option chosen for the design and build is on the cost effective and time management as steffen and Jeffery in Stakeholder Power states that as proven by the corporate raiders, one of the fastest means of raising stock value is to boost profit by cutting costs. This ushered in the era of crash dieting by large companies also known as reengineering or downsizing. (Walker and Marr 2001) The Procurement strategy is chosen on the basis of following criteria noted in the NEDO report. NEDO has suggested eight procurement factors to be considered at the procurement stage. Of these, the three main considerations are: Cost certainty of the market price at the bid submission and final account stages. Time the overall timing of the project from inception to completion. Quality the clients required standard of design and workmanship as expressed in the specification. Five other considerations were also highlighted as being influential on the choice of the procurement route. These are: Complexity Complexity of the building design, layout and services provision. Controllable variation How sure is the client of his requirements? The cost of variation of the contract may prove difficult to agree and assess. Degree of completion Does the client wish to create competition at the design and construction stage of the project? Client Responsibility Does the client wish to be directly involved in the decision making during the project. Risk in the project Commercial risk, occupation risk, design and construction risk. Taking the following factors into account, decisions has made in relation to: Choice of appropriate Procurement strategy for managing the contract (JCT- Design and Build) The Clients requirement stated in the Task Considering the clients brief and assessing the projects feasibility Considering the Project Finance Decided how to procure and manage the design and construction Considering the realistic time period for the overall project. (Williams and Cooke 2009) As the time period is of high priority and the early starting of the project is the must as the Clients required the project to be: Completed as quickly as possible (because time is money a month delay in project not even counted the construction charges but also a lot of overhead and industrial charges also) Completed by specific date (that must be achieved to ensure the govt about the proper running of the hospital) Completed on time once it commence (with no time slippage by starting the project at once under design and build procurement method) 50 40 35% 30% 30 25 % 20 6% 10 2% 2% 0 JCT98 JCT JCT JCT JCT Other Standard Intermediate Minor with Management Form Form Works Contractors + Agreement Design Major Projects SUPPLY CHAIN MANAGEMENT HOLROYDS (2003) suggest that the supply chain role is critical to achieving sustained improvement and forward thinking. In the context of extensive sub-contracting this is perhaps more so. Partnering, correctly implemented, will provide benefits comparable to those obtained by the integrated project process. (Trevor M. Holroyd, Buildability, Thomas Telford Publishing, Thomas Telford Ltd, 1 Heron Quay, London 2003) Some major clients have assembled their own standing lists of preferred suppliers according to requirement of their projects so that their project can be managed on a more long term and integrated basis while retaining an appropriate degree of competition and control. These suppliers or supply chain partners, include architects, engineers, main contractors, specialist contractors and suppliers of a variety of goods and services. The supply chain can be defined as the entire chain of processes that exist between the point at which a need for goods or services arises to the point at which the end user receives them and payment is made to the supplier. Problem is that one part of the chain impact directly on all subsequent stages, and proactive management of the supply chain is therefore fundamental to providing an efficient and effective procurement services to the organisation. (Cooke and Williams 2009) The contractor should be given the whole responsibility for the procurement of all material under the contract and a T.P.I (Third party Inspection by Individual body Trust) must be considered to achieve the best quality of material procurement. The essential point here is that the supply chain links, all the activities between suppliers and customers in a timely manner. The material will be procured at least 8 weeks before the schedule of use to maintain progress in time. Adversarial Relationship Collaborative Relationship Fragmented Lack of Process Customer Processes Customer Focus integration Satisfaction The role of SCM (supply chain Management) addressing the key problems in construction. (Fewings 2005) Cooke and Williams 2009 describes that the fast track system as a management approach aimed at the early completion of the construction phase using a combination of innovative procurement methods, industrialisation of the construction process and the use of work package contractors in order to benefits from their expertise, especially as regards their design input. The benefits of system include: Overlapping of work package both during design and construction Less duplication of effort and waste Less uncertainty and inefficiency at work package interface The use of innovative construction methods Incorporation of cutting edge technologies More emphasis on the standardisation, pre-assembly and modularisation of the construction process As a consequence, the fast-track system has the propensity to deliver completed projects in remarkable timescales. Identification and justification of relevant forms The purpose if this work is to examine the standard forms of contract most commonly used in the construction industry today. Standard forms look in at least three directions at once. One of these is towards the wider law, be it the law of contract, and be it statute law or common law, with its constant accretion arising out of decided cases. In addition all of this forms considered are entire co

George Orwells Nineteen Eighty-Four 1984 :: Free Essays on 1984

George Orwell's Nineteen Eighty-Four 1984   Ã‚  Ã‚  Ã‚  Ã‚  Totalitarianism is a word that has many definitions that are true to their own time and their own society. One of the most common definitions used world wide is very complex, but very understandable when you are done reading the book 1984 by George Orwell. Totalitarianism is a system of government and ideology in which all social, political, economic, intellectual, cultural and spiritual activities are subordinated to the purpose of the rules of the rulers of a state. Several important features distinguish totalitarianism, a form of autocracy peculiar to the 20th century, from suck order forms as despotism, absolutism, and tyranny. In the older forms of totalitarianism, people could work and live on their own as long as they didn’t try to enter the political state of the society in any way. In the newer forms of totalitarianism, the people of the society are dependent on other people that are higher then them in every thing they do in everyday life.   Ã‚  Ã‚  Ã‚  Ã‚  In Oceania, the world or society in the book 1984, the life of the state was very different from everything that we are used to in everyday life in this time. In Oceania the state life was all by a man that they called â€Å"Big Brother† that everyone worked for, lived for, and did all of their everyday things just to make him happy. The sate would say just what and when they could do. In the form of the society, the people really didn’t get to live in any true type of society. They weren’t a loud to talk to others about what was   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Knight 2 really on their minds, they couldn’t thing about the past or what is really the history, and they couldn’t have any kind of love life or sexual activity with anyone. In the form of daily life, the people had to go to work and do whatever the â€Å"Big Brother† said they had to do. In many instances they had to go around and change the newspapers so that the true history of the world wouldn’t be revealed to anyone but the top people of the society. No personal life was a loud to take place. The thought police had to know and did know everything that the people did or even thought of doing.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Oceania compares to the totalitarian state of the 20th century very well.

Reporting Stockholders Equity

ckChapter 11 – Reporting and Analyzing Stockholders’ Equity I. Characteristics of a Corporation (Publicly held (closely held)) * Separate legal existence; * Limited liability of stockholders; limited to investment * Transferable ownership rights; * Ability to acquire capital; * Continuous life; * Corporation management: Shareholders Shareholders * Voting rights * Profit sharing * Preemptive right * Residual claim Board of Directors Board of Directors CEO(PRESIDENT) CEO(PRESIDENT) . other vps . other vps CIO CIO CFO CFO COO COO Treasurer Treasurer ControllerController * Government regulations; file application with state government-> corportate charter by-law * Additional taxes. Double taxation II. Stock Issue 1. Basics of Stock Issue: (1) Authorized Stock: The maximum amount of stock that a corporation is authorized to sell by corporate charter. (2) Outstanding Stock: Capital stock that has been issued and is being held by stockholders. Legal capital= # of issued shares x par value per share (3) Par Value Stock: Capital stock that has been assigned an arbitrary value per share in the corporate charter. 4) No-par value Stock: Capital stock that has not been assigned a value in the corporate charter. (5) Stated Value of No-par value Stock: Value per share assigned by the board of directors to no-par value stock. Authorized Issued Outstanding (6) Paid-in Capital: Amount paid to corporation by stockholders for shares of ownership. (7) Retained Earnings: Earned capital held for future use in the business. 2. Accounting for Common Stock Issues: (1) Issuing Stock at Par Example 1: On March 1, 2002, XYZ Company issued 10,000 shares of $10 par value common stock at par. (2) Issuing Stock above ParExample 2: On June 10, XYZ Company issued 5,000 shares of $10 par value common stock at $12 per share. Cash 60,000(=5,000Ãâ€"12) Common Stock50,000 Additional paid in capital14,000 (Paid in capital in excess of par) What if the common stock issued on June 10 is n o par stock with a stated value of $10? Cash60,000 Common Stock50,000 Additional Paid in capital10,000 3. Treasury Stock: * A corporation’s own stock that has been issued, fully paid for, and reacquired by the corporation but not retired. * Issued but not outstanding (1) Corporations acquire treasury stock to †¦ reissue shares to employees under bonus and stock compensation plans; * increase trading of company’s stock in securities market to enhance market value; * reduce number of shares outstanding , and therefore increase earnings per share (EPS); * prevent a hostile takeover. (2) Purchasing Treasury Stock: * Cost method: Treasury stock is increased by the amount paid to reacquire the shares, and is decreased by the same amount when the shares are later sold. Example 3: On October 15, 2002, XYZ Company acquired 2,000 shares of the stock issued on June 10 in Example 2 at $9 per share.On the balance sheet: Stockholders equity Paid in capital Common stock (par) Ad ditional paid in capital Retained earnings Less: Treasury stock (a contra equity account) * Effect of purchasing treasury stock on common stock: * Effect of purchasing treasury stock on stockholders’ equity: III. Preferred Stock * Preferred stock has contractual provisions that give it preferences over common stock in dividends and assets in the event of liquidation. * Preferred stockholders do not have voting rights. Example 4: On November 5, 2002, XYZ Company issued 5,000 shares of $10 par value preferred stock for $13 per share.Cash65,000 Preferred Stock50,000 Additional Paid in capital15,000 1. Dividend Preference * Preferred stockholders have the right to share in the distribution of corporate income before common stockholders; * The first claim to dividends does not guarantee dividends; * Cumulative Dividends: Preferred stockholders receive current and unpaid prior-year dividends before common stockholders receive any dividends. When dividends are cumulative, preferred dividends that were not declared in a given period are called dividends in arrears. Example 5:XYZ Company issued 10,000 shares of 10%, $5 par value cumulative preferred stock On January 1, 1999. XYZ had not declared any dividends until December 31, 2002. 1999: 10,000x 5 x 10% = 5,000 2000: 5,000 2001: 5,000 2002:5,000 Dec 31, 02: $20,000 in cash * Dividends in arrears are not liability. They should be disclosed in the notes to financial statements. 2. Liquidation Preference- Creditors Prefered stock holders common stock holders IV. Dividends * A distribution by the corporation to the stockholders on a pro rata basis. 1.Cash Dividends: (1) To pay a cash dividend, a company must have: * retained earnings * adequate cash * declared dividends (2) Some Important Dates: * Declaration date: the date the board of directors formally authorizes the cash dividends and announces it to stockholders. Retained earnings Dividends payable * Record date: The date ownership of outstanding shares is de termined for dividend purposes. * Payment date: The date dividends are paid. Dividends payable Cash * Cumulative effect of declaration and payment of cash dividends on accounting equation: 2. Stock Dividends: Companies pay stock dividends to †¦ * Satisfy stockholders’ dividend expectations without paying cash; * Increase the marketability of its stock; * Emphasize that a portion of stockholders’ equity has been permanently reinvested in the business. * Small Stock Dividend: If the stock dividend is less than 20%-25% of the corporation’s issued stock, it is recorded at the fair market value per share. * Large Stock Dividend: If the stock dividend is greater than 20%-25% of the corporation’s issued stock, it is recorded at par or stated value per share. Example 6:On February 1, 2003, the balance of XYZ Company’s retained earnings was $2,500,000. XYZ Company declared a 15% stock dividend on its 100,000 shares of $10 par value common stock. The cu rrent fair market value of XYZ Company’s stock is $13 per share. Retained earnings195,000 Stock dividend Distributable150,000 Additional paid in capital45,000 On March 1, 2003, XYZ Company issued the dividend shares. Stock dividend distributable 150,000 Common Stock150,000 – Effect of stock dividends on stockholders’ equity and its components: S/E Retained earnings195,000 (Decrease)Common Stock150,000 (Increase) Additonal paid in capital45,000 (Increase) NET EFFECT: No change V. Stock Splits: * The issuance of additional shares of stock to stockholders accompanied by: * A reduction in the par or stated value; * An increase in number of shares. No entry * Effect of stock splits on stockholders’ equity and its components: S/E Common Stock (Par value per share x total # of issued shares) Add. Paid in capital Retained Earnings VI. Retained Earnings: * Net income that is retained in the business. Revenues (Credit, transfer to credit of income)Income Summary(Tr ansfer N. I to retained earnings credit) Retained Earnings Expenses (Transfer debit to debid of income summary) * Deficit: a debit balance in retained earnings. Deficit is reported as a deduction in stockholders’ equity on the balance sheet. * Retained earnings restrictions- Debt covenants VII. Financial Statement Presentation: 1. Balance Sheet S/E Paid-in-capital Common stock (par value) Preferred stock (par value) Additional paid in capital Retained earnings Less: Treasury Stock 2. Statement of Cash Flows Cash Flows from Financing ActivitiesIssuance of stock (cash inflows) Repurchase of stock (cash outflows) Dividend payment (cash outflows) VIII. Ratio Analysis: 1. Dividend Record * Payout Ratio: Cash dividends declared on common stock/ Net income 2. Earnings Performance * Return on common stockholders’ equity ratio: (NI-Prefered stockholders dividends)/Average common stockholders equity 3. Debt versus Equity Decision | Bond| Common Stock| Owners’ Control| Not affected| Diluted| Tax Benefit| Bond interests are tax deductible| Dividends are not deductible| Financial Ratio(EPS)| Not affected| Lower| Fixed payment| Yes | No|

Dissertation Writing Essay

A dissertation basically refers to a treatise that is stating a certain academic position; it is a lengthy study backed by intensive research with an aim of making a vital contribution to a specific field of study or topic. The key to writing an excellent dissertation lies in conducting an extensive and rigorous research. There are a number of requirements that have to be put into consideration if a research project is to be successful. A research project is meant to contribute to an existing body of knowledge and not in any way be applied for any individual’s self-enlightment. It should not be conducted for the sole purpose of comparing data or show the existing differences or relationship between any two set pf data Finally the question; to be tackled should not be limited to either yes or no answers. A yes or no answer will not contribute to the studies as per the core of the dissertation. The knowledge gathered in research project should be geared towards providing important insights about the topic or the research problem (S. Joseph l. 2007) I have a lot of interest in health studies and have in the past engaged in a lot of research on the various aspects and problems affecting the human body and the solutions to such problems. The past researches have seen me contribute to the existing body of knowledge and were in no way meant for self-enlightment. The nature of the research problem: â€Å"Evaluation and management of patient with cardio-Pulmonary diseases† is itself an indicator that the solutions will not be found by comparing any set of data or show any inter-relationships or differences existing between that data. The research aims at looking at the ways to provide effective management of cardio- pulmonary diseases in an effort to fill any existing gaps. Many researches have been conducted but have not been comprehensive and may have left certain gaps. This will be the sole drive of this dissertation. Question 3 Cardiopulmonary disease refers to diseases that inhibit the function-ability of the heart and the lungs. These diseases can have a long time impact on a person physical and mental well standing. Randie A, et al, 1999). A large proportion of the population continues to search for ways to enable them cope with heart ailments and complications. These complications are among the most of the highest killers. Many more are at a higher risk of getting cardio-pulmonary diseases as time passes by, especially as they advance in age. Management of these ailments involves astronomical costs raging from hospitalization and medical costs. The government, individuals, and the employees feel these costs. This cost is in terms of the direct costs in addition to disability expenses. (www. cardiumhealth. com) A lot of research has been conducted in this aspect. This research seeks to explore further this topic. It will focus at filling the gaps that have been left by the prior researchers. Management of many health complications and issues need to be not only cost efficient but also meant to endure that hope and effective care is given to the patients. It should be geared towards ensuring that the patients are healthy and remain productive. Hence the research problem would aim at looking at ways through which management of patients with cardiopulmonary disease can be done cost effectively. It aims to provide more information towards how this can be achieved as well as evaluating the existing patient management methods and (criteria) and how they can be improved to meet this objective. Questions 2 The problem statement for the dissertation topic is:† Ensuring cost effective evaluation and management of patients with cardiopulmonary diseases. Cost effectiveness refers to provision of certain services or goods with the minimum possible costs. It is not meant rather to compromise the quality of those services. Management of any disease is a costly affair and takes toll on those all involved. There are many ways through which these diseases can be managed but they involve high costs that are increasingly becoming hard to meet as the ailments become more prevalent in the population. The nature of care and health needs for an individual patient would vary depending on the level of recovery. Some may be acute while others are outpatient. Specific demands of the individuals would mean specific cost levels (NYU Medical Centre, 2007). The costs would vary from nursing, therapy, counseling alongside many others. Management of cardiopulmonary disease would involve coming up with ways through which the patients would access self-care, proper medication, and information on proper nutrition and a healthier lifestyle (www. vnsny. org). A research conducted in this line would provide vital information on how the above activities would be provided cost effectively. It would be able to address more on a topic that has overtime been widely tackled but has failed to provide a definite solution, not just in heart and lungs complications but also on other health complications as many revolve around the same key issues. Again this research recognizes the need of quality care and hence will not seek at reaching a method that compromises the quality of health care to reduce on costs. If properly conducted it will provide answers and save on costs associated with management of these diseases. The reviewed research problem statement for the dissertation would be: â€Å"Ways for coming up with cost effective ways of evaluating and managing patients with cardio-pulmonary diseases. † The initial problem statement is not grammatically correct and could not make a lot of sense on its own. The statement starts with a continuous verb- â€Å"ensuring†, this is not understandable at a first glance. The statement as it stands does not offer a reader enough clues as to what the research is going to focus on, it is not clear what is the appropriate link between cost effectiveness and cardio-pulmonary diseases. A good research statement should be able to provide a sense of inter-relationship between the problem and the dissertation topic. It fails also to provide a limit or the point of focus that the research is to take. A research problem statement should provide a clear guidance on the content of the research or the study. It should have clear demarcated limits of the research. It should provide a specific scope to guide the research on what is to be tackled and what is to be left out. The initial problem statement is too general and is confusing to a reader. A researcher might be misguided to focus on the different ways of managing patients with cardio-pulmonary diseases and fail to come up with the best cost effective methods for these diseases management. A good statement hence should be one that points out clearly what is expected of the research in a manner that is devoid of any ambiguities. It should be all comprehensive and not meant to confuse the reader on what specifically it is aiming to investigate by giving a general idea of the objective and the purpose of the study. The edited version of the research answer will provide the solutions the study is looking for. Looking at it will give a clear and informative idea of what the paper will entail, it gives a limit and the scope, which the researcher will follow. It will limit the researcher to the best and the most cost effective way of evaluating and managing cardiopulmonary diseases with no room for irrelevancy (web. mit. edu) The way the statement has been framed ensures that the researcher comes with the necessary answers to the arising questions. It has no room for a yes or no answer or any need to make comparisons. The solutions will be elaborative and seeking to give the specific methods for cost efficiency. In tackling this research problem, the researcher will have to conduct intense research, gathering of data and relevant information. It will include the use of case studies, questionnaires, and interviews among other data collection strategies. The researcher will have to interview experts in the health field as well as the patients to get a grasp of the situation at hand. This will take time. It will also require a high allocation of financial resources to cater for all those requirements. A critical analysis of this research problem leaves no doubt in my mind that this is exactly what I would wish to investigate. I wish to scrutinize the ways that can be used to bring cost efficiency in patient’s management. For further analysis of the appropriateness of the research problem, I showed it to my colleagues in class for their review. Opinion was that the research problem statement requires more revision to ensure that it captures all aspects of the existing research problem and what the research seeks to tackle.  The revised problem statement would be: â€Å"What would it take to ensure cost efficiency in evaluation and management of patients with cardiopulmonary diseases? † Developing the dissertation topic or title is one of the most laborious tasks. List of research topics should be made in the bid to evaluate and choose the best and the most striking title. (www. unc. edu). An evaluation of the above checklist will provide a useful insight for arriving and developing the best dissertation topic. In choosing dissertation topic, it is imperative that one analyses what he/she is best at. It would be a plus to research a topic that you are well versed with its major concepts and that you have a lot of interest in to avoid generalization (www. c. s. purdue. edu). The fact that a research is not conducted for a persons own self interest does not mean that one should not pick a topic that he/she has interest in, what it means is that the researcher should not use that opportunity to satisfy his personal curiosities but rather should aim at researching for knowledge’s sake. In selecting this dissertation topic it is important that I ensure that the topic I have chosen is appropriate to my studies, it should be appropriate to the subject at hand. The topic should not be very wide as not to be manageable due to the possible time constraints. I will also have to put into consideration my instructors interest, it should be a topic that they will approve of and something they believe is within my scope of studies (www. disertation-writing. net). It is advisable to incorporate my peers view on the appropriateness of my topic, through their review I can get important tips to apply when selecting that topic. The importance of originality should be underscored, this makes the topic should have a sense of novelty and be interesting to the researcher as well as the reader as it seeks to unearth discoveries that have not been there before. The topic should be created and not stumble upon or found in the library books (Dr. Sally Jensen, 2000). These tips as well the above-learnt checklists should assist me to come up with an appropriate topic for my dissertation.

The Rise of Ancient Greece essays

The Rise of Ancient Greece essays The Rosetta stone was an important in our understanding of the ancient Egyptians because the Egyptians used hieroglyphics that we no longer use nor do we understand. Located on this stone were three forms of written language, Greek and two styles of Egyptian. Since we already knew the Greek language, the Rosetta Stone made it possible to decipher the early Egyptian writing. After translating the Egyptian writings, we could make sense of their expressions on pamphlets, walls, statues, etc. This stone was the key to Egyptian life because we could not only understand but also teach their culture. The Sumerians developed a system of writing primarily to maintain records business transactions, make contracts, and keep track of bank accounts. The low-lying, rugged mountains in the geographic area where the Aegean civilization was located affected them by decreasing development and business dealings. In the Aegean era, traveling by land was difficult, especially through these low-lying, rugged mountains. The most common way to trade was by transporting throughout local waters. Aegeans never did unite under one government; it was just too hard to travel. The story of the Iliad started when a Trojan prince, Paris, falls in love with Helen, the wife of a Mycenaean king. Paris takes her back to Troy with him. To avenge the kidnapping of Helen the Mycenaeans lay siege on Troy for ten years. The Mycenaeans never gained control of the Trojan city. Tired of stalemate, the Mycenaeans built a giant, wooden, yet hollow sculpture of a horse. They let the Trojans think this statue was a gift showing apology. The Mycenaean King would never give up so easily; this was merely a warfare tactic. The statue was filled with many highly trained soldiers, waiting for Troys celebration to end. Once this party was over, the soldiers got out, opened the gates to the Trojan city for the other Mycenaean soldiers. They killed all of the Trojan m...

classical musics effects essays

classical music's effects essays Classical Music and its effects on the Neonate In Todays society music is very diverse. It produces feelings and emotions sensed by all walks of life. Different styles of music tend to give different ideas and impressions to people. It affects everyone it comes in contact with, and it is more powerful than we are willing to understand. Classical music is known as being a form of music that is thought to help the cognitive (right) side of the brain develop. It has been said that music making, itself, has the ability to increase ones brain capacity and resources by strengthening the connections between the neurons. And it has been proven that even the neonate will react to music. Classical music especially has a positive effect on neonatal development. In the Irish Journal of Psychology, (1991, 12, pp. 95-107) Petter G. Hepper studied music and its effects on the neonate. He found that the neonate, two to four day old, remembered a tune that was played to him as a fetus (Still in the womb, un-birthed). Upon hearing the song the neonates movements and heart rate would change. Another astounding fact discovered was that the fetus twenty-nine to thirty weeks old showed certain behavioral responses to songs played to him in his earlier stages of development. In both of these cases there were specific behavioral responses to certain tunes the baby was previously exposed to. Therefore, his results suggest that the learning and remembering of a melody can take place as early as the third trimester of pregnancy. Studies have also been done to show that children who as neonates were exposed to classical music did better in school. Reading and math were the top two subjects. Notice that both of these subjects have to do with cognitive thinking. First grade children were tested in math and reading, and those who were taken aside to listen to classical music did better than those who werent. T...

A History and Effects of Concussions in Football and Hockey

A History and Effects of Concussions in Football and Hockey A concussion is a mild traumatic brain injury which results from a bump blow or jolt to either the head or body causing the brain to move rapidly in the skull. A concussion affects normal brain function and can have severe and long-term health effects (McGannon, et al., 2013). In this regard, an individual should not ignore the slightest bump on the head as it can have serious long-term effects. The signs and symptoms of a concussion include headaches, nausea, fatigue, memory problems, confusion and sleep disturbances or even mood changes. Symptoms manifest right after the injury, but some are not recognized until later. It is estimated that 1.6 to 3.8 concussions occur each year in the US associated with sports and recreation. Concussions in Football and Hockey since the 1990’s Diehl (2010), asserts that the National Football League continues to have an increased number of retired players who have suffered concussions and developed memory and cognitive issues such as Alzheimer’s, depression and chronic traumatic encephalopathy (CTE). CTE is a degenerative brain disease associated with multiple head traumas. In 1994, Paul Tagliabue the NFL commissioner created the Mild Traumatic Brain Injury committee. He also asserts that concussions are a part of the profession and as an occupational hazard. In the same year, Troy Aikman a Dallas quarterback took a knee to head an event that landed him in the hospital. In the same year, Chicago Bears Merrill Hoge retires due to multiple injuries on the head which result into not being able to recognize anyone. The NFL commissioner dismissed the reports on the media that concussions were increasing as mere assumptions. In 1995, Pellman experimented with Boomer Esiason’s return from a concussion by using an unproven system involving QB’s sitting before a computer screen and concentrating. In 1997, The American Academy of Neurology published its guidelines recommending removal of players after having concussions, but NFL dismisses it. In 1999, NFL issued millions in disability payments to retired players. In 2,000, research indicates 61% of former NFL players have had concussions. 49% of the players had numbness or tingling, 28% had neck or cervical spine arthritis, 31% had memory loss issues, and 16% could not dress while 11% could not feed themselves (Macciocchi, 2001). In 2012 NFL reported 261 concussions, 229 in 2013, 206 in 2014 and 271 in 2015. In 2016, the NFL and NFL Players’ Association implemented a new policy to enforce concussion protocol. In Ice Hockey, total concussions are relatively small as compared to football. There is lower participation in the game at both high school and college level. Research indicates that since 1990 through to 2004, the rate of concussions in men who participated in the sport stood at 0.41 per 1000. Concussions in hockey players happen at 6.3% during practice and at 10.3% during the game. The relationship between age and shocks, however, remains unclear. Since 1995 to 1997, the concussion rate was higher in ice hockey players. Since 2006 to 2013, only 511 incidents were reported in 844 games (Iverson et al., 2001). How the media portrays concussions in football compared to Ice hockey? Slobounov and Sebastianelli (2014) cite that the concussion issues in sports have recently attracted considerable media coverage in the past few years. The media focused on professional football or Ice Hockey and such like high-speed games where there is full contact between powerful players. Despite there has been a dramatic improvement on how the media reports on the severity associated with serious brain injuries and concussions, more need to be done to improve the health of the players. It is of essence that the media reports on facts rather than sensationalizing issues that could lead to misinterpretation of such sports. Hockey and Football are the collision sports with the highest rate of concussions according to media reports. The discrepancy between reported cases and actual injuries are similar in football, which has the largest cases of concussions (Womble and Collins, 2016). The American media leaves the impression that TBI and violence are part and parcel of hockey and cannot be avoided. In the past, the media focused on TBI only when star players were affected, however, there is a shift in focus since all players are included. In both Ice Hockey and Football, the media would in the past indicate that protective gear was a way to ensure player’s safety, but they now say that protective gear is part of the problem since it makes the players feel invulnerable invoking risk taking in them. The media has been blamed for fanning fear of the long-term effects associated with head injuries. The NHL accused media of speculation and spreading fear rather than having scientific evidence (Niranjan and Lunsford, 2014). Further, the Commission denied media reports that concussions are likely to lead to CTE in the long run. The media has covered all players who have died in the NHL as being suspected of having CTE. The media has investigated all deaths of Ice hockey players by first assuming that they had brain related injuries, as a result of concussions they acquired from the field. It is no different with football players in the NFL. Despite numerous reports associating head injuries to brain damage, the NFL still denies the connection. The media reports about the players who are reluctant to report injuries for fear of missing play time. Such players do not realize the long term effects until they retire from the field. Concussions in Ice hockey and football Both football and hockey are physical contact sports that can have strenuous effects on the body. In respect to concussions or overall injuries, football appears to be affected than hockey. The American Sports data carried out research in 2006 that indicates that in every 100 participants of ice hockey 9.5 received concussions while the number doubled in football. Other determinants of injuries include the position of the players in both games. Defensemen and forwards in hockey are likely to sustain concussions since they spend a lot of time skating and in contact with others In football, however, goalkeepers are less liable to sustain injuries as compared to other players in touch with the opposition. Concussions are similar in both sports with most of them resulting from T-bone hits or between the eyes. The hit rattles the brain’s center of gravity. Further, the run makes the mind to rock dangerously forward and backward such that it hits the skull. In younger players, the brain is flush with the bone making the effect less severe. What’s more, helmet to helmet hits can cause serious injuries. Bumps to the side of the head are far more serious since the spinning of the brain during a rotational concussion can lead to serious injuries. Experts assert that rotational forces result in breakage of nerve cells and fibers eventually causing a stretch in the blood vessels beyond their ability to stay intact. After a hit, the brain gradually accelerates releasing neurotransmitters which eventually become chaotic and useless. The cell fails to transmit nerve impulses since it’s impaired and not –functional. Protocols for football and hockey athletes Throughout history, considerable information has been accumulated regarding the psychological and physical attributes of high profile players. Based on the present information, desirable fitness profiles are laid out for elite players particularly in hockey, and the patterns are used to compare future players. The protocols are necessary to identify a player’s weaknesses, fitness and physical or physiological capability of a player. There is a model for sports injury prevention which follows a conceptual process. The model determines the extent of harm; it also determines the mechanism of particular injury that needs to be prevented, developing and implementing interventions as well as reassesses the injury incidence to determine whether the process was a success. The NHL and NLF have come up with measures to prevent concussions likely to lead to brain damage in the future. They organizations have established concussion management protocols which entail baseline testing that requires all athletes to complete an Impact Neurocognitive as well as a Biodex balance system baseline test before they are cleared as first-year athletes. The test includes checking concussion history, cognitive assessment, and symptom evaluation. The NHL and NFL have made significant strides in reducing the number of a concussion occurring in the field. While concussions cannot be eliminated, they can be reduced. In this regard, technological advancements in finding solutions have been adopted. The NFL, for instance, introduced protective gear and new helmets, therefore making profound changes progressively and quickly. The newly introduced helmets have a cut out at the front meant to make it flex more but at the same time maintain an overall stiffness. Additionally, the thick padding that is behind the free space makes it move less, but just enough such that the player can take big hits. The impact from any side allows flex in the helmet such that it can dissipate the hit before the impact is felt on the head. Those are just a few of the features relating to new helmets and mouth guards intended to reduce injuries. It is worth noting that the new initiatives introduced before there are significant reduction and significance to the athletes. Besides new improved attire, the league implemented two rule changes with an objective of augmenting athlete’s safety. Firstly, an offensive player intending to catch a ball that has already been intercepted will be ruled as defenseless, therefore, cannot be attacked in the neck area or head by the opposition as possession changes and a penalty will be enforced. Moreover, the league has issued certified players trainers who are located in sky boxes in every game the mandate to stop play at the touch of a button once they see a player exhibiting injury signs even if he sustained the injuries in previous games. What’s more, the NFL is liaising with Canadian football league to improve concussion treatment. NHL, on the other hand, recommends the use of standardized helmets to reduce incidents of skull injuries besides issuing proper training to determine head and neck injury. The NHL concussion protocol stipulates that players must get approval from the team doctor before r eturning to play. They are taken to a calm place to be evaluated; their memories, balance as well as general awareness are assessed. However, the NHL and NFL need to do much more to reduce incidents of injury in the field. Firstly, there should be mandatory sit out periods for concussed players. Additionally, there should be independent doctors to examine the players. The NHL and NFL should ensure retired players are taken care of with proper remuneration as well as medical covers. Evolving Technologies likely to prevent concussions Lots of focus has been placed on developing technologies and equipment with an objective of preventing head injuries. Since 1990’s, helmets were designed to minimize head injury resulting in morbidity and mortality. Such helmets were nothing more of leather padding, therefore, were slowly replaced with metal helmets with plastic to reinforce protection. Although helmets can assist players to minimize the extent of the injury sustained, recent innovations such as the Q-collar made by Q-30 innovations utilizes a radical approach to determine the extent of injuries on a player (Fainaru-Wada and Fainaru, 2014). The device lightly clamps down a player’s jugular veins causing the brain to swell and fit more appropriately within the skull. The idea is to create a backfill in the brain such that the volume of blood increases. The device, therefore, assists in determining the actual number of hits a player sustains. Current technologies seem to concentrate on improving helmets b y redesigning them such that they can displace the force of a blow or minimize the impact for the part of the face or head that takes the most hit. NFL and NHL health care plan for players Health and wellness entail much more than the emotional or physical well-being. It means having resources and support to ensure stability and productivity in all areas of life. Players need health care benefits as well as specialized treatment programs. What’s more financial assistance and career building are imperative. The NFL offers a comprehensive wellness program to its athletes (Webbe, 2011). The program involves providing free consultation on a medical issue for the players and their family. Players are checked before games and have a health insurance package. Moreover, retired players have access to a neurological care program that provides access to comprehensive tests in six hospitals across the US. The players also have access to the spine treatment program across selected hospitals in the US. Moreover, they have a joint replacement program, prescription drug card program, priority access to assisted living as well as a vested inactive life insurance. NHL, on the other hand, provides medical cover for the players on a contractual base of seven years and beyond that if a player sustains injuries. Moreover, the league provides insurance to some players through a temporary total disability program where each team pays a premium according to the salaries of the five top paid players but it can administer the coverage in a manner it sees fit. Effects of Concussions on NHL and NFL players Concussions, as established earlier, have long become part of hockey and football. However, minimal concussions can be experienced through recommended precautionary measures combined with the recent technologies. It is imperative that players maintain their well-being for the sake of the game as well as their lives in the long haul. Concussions have led to a loss of talented athletes or long term irreversible injuries. Once a player sustains a head injury, the resulting effect is that he gets pulled out of the game, sometimes never to play again which is a costly affair to the team. Benefits packages offered to players who have had concussions can affect the associations negatively such that they may fail to have enough resources for the active players. Concussion issues have led to numerous lawsuits that are costly for both leagues (Robidoux, 2001). Long-term effects of multiple concussions Exposure to concussions can cause an individual player to have mild cognitive impairments (MCI’s), CTE as well as other adverse outcomes. Additionally, multiple concussions can lead to post-concussion syndrome (PCS) (Robidoux, 2001). As such, it is paramount that a player fully recovers from a single concussion rather than risking a subsequent concussion. Failure to adhere could lead to severe neurological damage. With such an understanding, managing concussions calls for comprehensive, specialized and state of the art methods. Conclusion The media has taken personal interest researching and reporting on concussions experienced in football, ice hockey, and all contact sports. Despite the growing awareness about the long-term effects of concussions from contact sports, calls by the media and the public to burn such sports may be premature. Collision sports expose individuals to neurological dangers, but they come with a host of benefits as well. The media has sensitized the public about the dangers linked to concussions prompting the NHL and NFL to take appropriate actions to reduce concussion rates. As such, one could argue that the media has played a significant role in saving the lives of individual players or highlighting their plight. Many athletes have received treatment and benefits due to media exposure.

With reference to the UK, examine and discuss the methods open to a Essay - 1

With reference to the UK, examine and discuss the methods open to a government to control the rate of inflation within an economy - Essay Example According to the Office for National Statistics (ONS) inflation in the UK rose to 2.2 per cent in January 2008, 0.2 per cent above the governments two per cent target. Retail price index (RPI) inflation rose to 4.1 per cent in January, up from four per cent in December. Although rising utilities bills and an increase in producer price index (PPI) inflation will keep upward pressure on inflation, the drop in demand for consumer products - such as clothing, footwear and electricals - seen in January could offset the higher food and fuel prices, analysts believe (Office of National Statistics 2008). Balancing the state budget is viewed by the economists as the way to help ease inflation. More efficient way is to keep the state budget ath the surplus and to hold expenditures at a low level. Budget can also be balanced by cutting taxes, and then trimming expenditures enough to make outgo match income. Tight money is probably the anti-inflationary weapon that is most widely used by capitalist economies today all around the world. By tight money it is meant holding down the ability of banks to make additional loans, so that household or businesses borrowers find it much more difficult--and much, much more expensive--to take out a loan. Tight money certainly slows down the pace of economic buying and producing. To a lesser extent it also slows down inflation, although there is no iron law that says prices must fall just because less is being produced or bought. Mainly the result of tight money is to intensify competition in a sluggish business setting, and that may bring prices down or stop them from going up: the bargains in air fares may be an example of this. The difficulties with tight money are is that the impact of credit stringency is very uneven--dealing serious blows, even death blows, to small business; leaving big business, with its powerful credit sources, relatively unscathed. Another problem is

Innovating Essay Example | Topics and Well Written Essays - 1000 words - 1

Innovating - Essay Example These emissions are also detrimental to the environment. Fossil fuels reserves are getting depleted and the use of nonrenewable energy sources affects the environment. The best alternative to fossil fuels is adoption of renewable energy sources. Renewable energy sources are environmental friendly and sustainable. These energy sources are constantly replenished therefore, can provide sustainable alternatives to fossil fuels (Moomaw, et al., 2011). Examples of potential renewable energy solutions include solar, water and wind. Many countries are tapping wind energy as a source of renewable energy sources. This paper focuses on using wind turbines to tap wind energy as a source of renewable energy. Wind turbines enable people to tap a natural energy resource and convert it to electricity. Wind is an inexhaustible energy resource that can replace fossil fuels as a source of sustainable energy. Wind turbines also generate electricity in a manner that does not harm the environment. Wind turbines do not emit any emissions or gases that could affect the environment or lead to greenhouse effect. This makes the use of wind turbines a sustainable and feasible means to generate electricity. In addition to generating electricity from wind energy, land turbines can perform other tasks e.g. irrigation and farming activities. The main constraint on the adoption of wind turbines for generating energy is its cost in relation to conventional energy sources. The capital costs for installing wind turbines is very high especially if the country seeks to generate huge amount of electricity from wind energy. This poses challenges to countries that seek to tap wind energy for their alternative source of electricity. Maintenance costs of wind turbines are also very high. Most wind turbines are made of expensive mechanical parts that undergo wear and tear easily due to their work load.

How Canadian doing business in China Essay Example | Topics and Well Written Essays - 500 words

How Canadian doing business in China - Essay Example China is the epitome of Eastern culture. Any business communications between two countries must be done with care. Western culture in terms of the spoken language can be characterized as low-context. This means Westerners speak in a direct, frank, and oftentimes blunt manner as their language is precise and specific. In contrast, the Eastern culture is high-context in that besides the spoken word, there are added elements to communications such as a smile, frown, silence, aphorism, metaphor, anecdote, or even a joke to deliver a message (Norales, 2006). Added to these subtleties are the strictly local concepts of guanxi and of â€Å"face.† This paper discusses the enduring values and utility of guanxi and face when in China. Guanxi – this refers to the personalized network of contacts and influences in Chinese society. Basically, this word combines the two concepts of relationships and connections which are very central in how Chinese society functions. It is an all-encompassing idea that links two people in a mutually beneficial relationship although the relationship may not be always between two equals. In guanxi, there is an implicit general understanding (without specific requests or demands) in which people benefit from the social connections they had developed over the years through a cycle of reciprocity in granting favors. In this context, a Canadian businessman should first try to develop his guanxi by joining a club or a business association to gain contacts before asking any direct favors from the Chinese. Other members of the association can evaluate the Canadians sincerity by interacting with him without business in mind. Business can be discussed later only when trust is gained and people know each other better (Reuvid & Li, 2006). Guanxi in its literal meaning is â€Å"pass to a hierarchy† and a successful businessman gains influence and the necessary

Journal Entries Assignment Example | Topics and Well Written Essays - 250 words

Journal Entries - Assignment Example I do not like the way the drugs make me feel. Although my mother ensured that I took my medicine at the stated time, I felt sick to the stomach but I did not expel them. I had a healthy meal as prescribed by my doctor; the vegetarian lasagna was just great. Sometimes after taking the medication, I had a slight headache. I could not log onto my computer to obsess over their lives. Moreover, I got the sleep that I had missed for days. I admit I had a good night rest. Taking lithium and Clozapine makes me feel nauseated, drowsy, and fatigued. Furthermore, I have been taking a lot of naps, and I miss using my computer, I can only use it for a limited time span as I have blurred vision. Also, I cannot get outside as my eyes are sensitive to the sun. However, I am taking my treatment plan as positively as ever. I am still happy, and I do understand why I am still taking this medication, but I have to. I woke up at dawn for a run, to get rid of the excess vigor. My doctor advised me that exercising is great, that is why I choose to go for a run. After the run, I took my medication and had a nap. So far, I have been watching what I eat- no junk food for me. I can admit that I feel great and cannot wait for the next day to reach do that I could do the same. However, I have a desire to quench my thirst now and then; my water bottle has been my faithful

No Smoking Employees Essay Example | Topics and Well Written Essays - 500 words

No Smoking Employees - Essay Example Furthermore, a smoking employee’s health plan and insurance premiums are higher compared to non-smokers. This means higher health care and medical costs for the employers. Moreover, employers are also concerned about the risk of second hand smoke on their non-smoking employees. This could also result in higher medical costs for them, so they would not like to expose their other employees to the health hazards of second hand smoke. Employers perceive hiring smokers as going against their clean indoor air policy. In most areas, refusal to hire smokers does not constitute unlawful discrimination. Federal law prohibits employers from discriminating against any individual in hiring because of that individual’s race, color, religion, sex, national origin, citizenship status, age, and disability. In addition, state law also prohibits discrimination in hiring based on height, weight, and marital status. This means that employers can discriminate against smokers because they do not belong to the â€Å"protected group†. Other employers do not hire smokers because they believe that employment requires a high level of physical fitness which means that good health is an essential asset for any job (ASH, par.12).

How Canadian doing business in China Essay Example | Topics and Well Written Essays - 500 words

How Canadian doing business in China - Essay Example China is the epitome of Eastern culture. Any business communications between two countries must be done with care. Western culture in terms of the spoken language can be characterized as low-context. This means Westerners speak in a direct, frank, and oftentimes blunt manner as their language is precise and specific. In contrast, the Eastern culture is high-context in that besides the spoken word, there are added elements to communications such as a smile, frown, silence, aphorism, metaphor, anecdote, or even a joke to deliver a message (Norales, 2006). Added to these subtleties are the strictly local concepts of guanxi and of â€Å"face.† This paper discusses the enduring values and utility of guanxi and face when in China. Guanxi – this refers to the personalized network of contacts and influences in Chinese society. Basically, this word combines the two concepts of relationships and connections which are very central in how Chinese society functions. It is an all-encompassing idea that links two people in a mutually beneficial relationship although the relationship may not be always between two equals. In guanxi, there is an implicit general understanding (without specific requests or demands) in which people benefit from the social connections they had developed over the years through a cycle of reciprocity in granting favors. In this context, a Canadian businessman should first try to develop his guanxi by joining a club or a business association to gain contacts before asking any direct favors from the Chinese. Other members of the association can evaluate the Canadians sincerity by interacting with him without business in mind. Business can be discussed later only when trust is gained and people know each other better (Reuvid & Li, 2006). Guanxi in its literal meaning is â€Å"pass to a hierarchy† and a successful businessman gains influence and the necessary

No Smoking Employees Essay Example | Topics and Well Written Essays - 500 words

No Smoking Employees - Essay Example Furthermore, a smoking employee’s health plan and insurance premiums are higher compared to non-smokers. This means higher health care and medical costs for the employers. Moreover, employers are also concerned about the risk of second hand smoke on their non-smoking employees. This could also result in higher medical costs for them, so they would not like to expose their other employees to the health hazards of second hand smoke. Employers perceive hiring smokers as going against their clean indoor air policy. In most areas, refusal to hire smokers does not constitute unlawful discrimination. Federal law prohibits employers from discriminating against any individual in hiring because of that individual’s race, color, religion, sex, national origin, citizenship status, age, and disability. In addition, state law also prohibits discrimination in hiring based on height, weight, and marital status. This means that employers can discriminate against smokers because they do not belong to the â€Å"protected group†. Other employers do not hire smokers because they believe that employment requires a high level of physical fitness which means that good health is an essential asset for any job (ASH, par.12).

Research Papers in Computer Science Essay Example for Free

Research Papers in Computer Science Essay Since we recently announced our $10001 Binary Battle to promote applications built on the Mendeley API (now including PLoS as well), I decided to take a look at the data to see what people have to work with. My analysis focused on our second largest discipline, Computer Science. Biological Sciences (my discipline) is the largest, but I started with this one so that I could look at the data with fresh eyes, and also because it’s got some really cool papers to talk about. Here’s what I found: What I found was a fascinating list of topics, with many of the expected fundamental papers like Shannon’s Theory of Information and the Google paper, a strong showing from Mapreduce and machine learning, but also some interesting hints that augmented reality may be becoming more of an actual reality soon. The top graph summarizes the overall results of the analysis. This graph shows the Top 10 papers among those who have listed computer science as their discipline and chosen a subdiscipline. The bars are colored according to subdiscipline and the number of readers is shown on the x-axis. The bar graphs for each paper show the distribution of readership levels among subdisciplines. 17 of the 21 CS subdisciplines are represented and the axis scales and color schemes remain constant throughout. Click on any graph to explore it in more detail or to grab the raw data.(NB: A minority of Computer Scientists have listed a subdiscipline. I would encourage everyone to do so.) 1. Latent Dirichlet Allocation (available full-text) LDA is a means of classifying objects, such as documents, based on their underlying topics. I was surprised to see this paper as number one instead of Shannon’s information theory paper (#7) or the paper describing the concept that became Google (#3). It turns out that interest in this paper is very strong among those who list artificial intelligence as their subdiscipline. In fact, AI researchers contributed the majority of readership to 6 out of the top 10 papers. Presumably, those interested in popular topics such as machine learning list themselves under AI, which explains the strength of this subdiscipline, whereas papers like the Mapreduce one or the Google paper appeal to a broad range of subdisciplines, giving those papers a smaller numbers spread across more subdisciplines. Professor Blei is also a bit of a superstar, so that didn’t hurt. (the irony of a manually-categorized list with an LDA paper at the top has not escaped us) 2. MapReduce : Simplified Data Processing on Large Clusters (available full-text) It’s no surprise to see this in the Top 10 either, given the huge appeal of this parallelization technique for breaking down huge computations into easily executable and recombinable chunks. The importance of the monolithic â€Å"Big Iron† supercomputer has been on the wane for decades. The interesting thing about this paper is that had some of the lowest readership scores of the top papers within a subdiscipline, but folks from across the entire spectrum of computer science are reading it. This is perhaps expected for such a general purpose technique, but given the above it’s strange that there are no AI readers of this paper at all. 3. The Anatomy of a large-scale hypertextual search engine (available full-text) In this paper, Google founders Sergey Brin and Larry Page discuss how Google was created and how it initially worked. This is another paper that has high readership across a broad swath of disciplines, including AI, but wasn’t dominated by any one discipline. I would expect that the largest share of readers have it in their library mostly out of curiosity rather than direct relevance to their research. It’s a fascinating piece of history related to something that has now become part of our every day lives. 4. Distinctive Image Features from Scale-Invariant Keypoints This paper was new to me, although I’m sure it’s not new to many of you. This paper describes how to identify objects in a video stream without regard to how near or far away they are or how they’re oriented with respect to the camera. AI again drove the popularity of this paper in large part and to understand why, think â€Å"Augmented Realityâ€Å". AR is the futuristic idea most familiar to the average sci-fi enthusiast as Terminator-vision. Given the strong interest in the topic, AR could be closer than we think, but we’ll probably use it to layer Groupon deals over shops we pass by instead of building unstoppable fighting machines. 5. Reinforcement Learning: An Introduction (available full-text) This is another machine learning paper and its presence in the top 10 is primarily due to AI, with a small contribution from folks listing neural networks as their discipline, most likely due to the paper being published in IEEE Transactions on Neural Networks. Reinforcement learning is essentially a technique that borrows from biology, where the behavior of an intelligent agent is is controlled by the amount of positive stimuli, or reinforcement, it receives in an environment where there are many different interacting positive and negative stimuli. This is how we’ll teach the robots behaviors in a human fashion, before they rise up and destroy us. 6. Toward the next generation of recommender systems: a survey of the state-of-the-art and possible extensions (available full-text) Popular among AI and information retrieval researchers, this paper discusses recommendation algorithms and classifies them into collaborative, content-based, or hybrid. While I wouldn’t call this paper a groundbreaking event of the caliber of the Shannon paper above, I can certainly understand why it makes such a strong showing here. If you’re using Mendeley, you’re using both collaborative and content-based discovery methods! 7. A Mathematical Theory of Communication (available full-text) Now we’re back to more fundamental papers. I would really have expected this to be at least number 3 or 4, but the strong showing by the AI discipline for the machine learning papers in spots 1, 4, and 5 pushed it down. This paper discusses the theory of sending communications down a noisy channel and demonstrates a few key engineering parameters, such as entropy, which is the range of states of a given communication. It’s one of the more fundamental papers of computer science, founding the field of information theory and enabling the development of the very tubes through which you received this web page you’re reading now. It’s also the first place the word â€Å"bit†, short for binary digit, is found in the published literature. 8. The Semantic Web (available full-text) In The Semantic Web, Tim Berners-Lee, Sir Tim, the inventor of the World Wide Web, describes his vision for the web of the future. Now, 10 years later, it’s fascinating to look back though it and see on which points the web has delivered on its promise and how far away we still remain in so many others. This is different from the other papers above in that it’s a descriptive piece, not primary research as above, but still deserves it’s place in the list and readership will only grow as we get ever closer to his vision. 9. Convex Optimization (available full-text) This is a very popular book on a widely used optimization technique in signal processing. Convex optimization tries to find the provably optimal solution to an optimization problem, as opposed to a nearby maximum or minimum. While this seems like a highly specialized niche area, it’s of importance to machine learning and AI researchers, so it was able to pull in a nice readership on Mendeley. Professor Boyd has a very popular set of video classes at Stanford on the subject, which probably gave this a little boost, as well. The point here is that print publications aren’t the only way of communicating your ideas. Videos of techniques at SciVee or JoVE or recorded lectures (previously) can really help spread awareness of your research. 10. Object recognition from local scale-invariant features (available in full-text) This is another paper on the same topic as paper #4, and it’s by the same author. Looking across subdisciplines as we did here, it’s not surprising to see two related papers, of interest to the main driving discipline, appear twice. Adding the readers from this paper to the #4 paper would be enough to put it in the #2 spot, just below the LDA paper. Conclusions So what’s the moral of the story? Well, there are a few things to note. First of all, it shows that Mendeley readership data is good enough to reveal both papers of long-standing importance as well as interesting upcoming trends. Fun stuff can be done with this! How about a Mendeley leaderboard? You could grab the number of readers for each paper published by members of your group, and have some friendly competition to see who can get the most readers, month-over-month. Comparing yourself against others in terms of readers per paper could put a big smile on your face, or it could be a gentle nudge to get out to more conferences or maybe record a video of your technique for JoVE or Khan Academy or just Youtube. Another thing to note is that these results don’t necessarily mean that AI researchers are the most influential researchers or the most numerous, just the best at being accounted for. To make sure you’re counted properly, be sure you list your subdiscipline on your profile, or if you can’t find your exact one, pick the closest one, like the machine learning folks did with the AI subdiscipline. We recognize that almost everyone does interdisciplinary work these days. We’re working on a more flexible discipline assignment system, but for now, just pick your favorite one. These stats were derived from the entire readership history, so they do reflect a founder effect to some degree. Limiting the analysis to the past 3 months would probably reveal different trends and comparing month-to-month changes could reveal rising stars.

Balance sheet ratio analysis

Balance sheet ratio analysis Balance Sheet Ratio Analysis Important Balance Sheet Ratios measure liquidity and solvency (a businesss ability to pay its bills as they come due) and leverage (the extent to which the business is dependent on creditors funding). They include the following ratios: Liquidity Ratios These ratios indicate the ease of turning assets into cash. They include the Current Ratio, Quick Ratio, and Working Capital. Current Ratios.The Current Ratio is one of the best known measures of financial strength. It is figured as shown below: Total Current Assets Current Ratio = ____________________ Total Current Liabilities The main question this ratio addresses is: Does your business have enough current assets to meet the payment schedule of its current debts with a margin of safety for possible losses in current assets, such as inventory shrinkage or collectable accounts? A generally acceptable current ratio is 2 to 1. But whether or not a specific ratio is satisfactory depends on the nature of the business and the characteristics of its current assets and liabilities. The minimum acceptable current ratio is obviously 1:1, but that relationship is usually playing it too close for comfort. If you decide your businesss current ratio is too low, you may be able to raise it by: Paying some debts. Increasing your current assets from loans or other borrowings with a maturity of more than one year. Converting non-current assets into current assets. Increasing your current assets from new equity contributions. Putting profits back into the business. Quick Ratios.The Quick Ratio is sometimes called the acid-test ratio and is one of the best measures of liquidity. It is figured as shown below: Cash + Government Securities + Receivables Quick Ratio = _________________________________________ Total Current Liabilities The Quick Ratio is a much more exacting measure than the Current Ratio. By excluding inventories, it concentrates on the really liquid assets, with value that is fairly certain. It helps answer the question: If all sales revenues should disappear, could my business meet its current obligations with the readily convertible `quick funds on hand? An acid-test of 1:1 is considered satisfactory unless the majority of your quick assets are in accounts receivable, and the pattern of accounts receivable collection lags behind the schedule for paying current liabilities. Working Capital.Working Capital is more a measure of cash flow than a ratio. The result of this calculation must be a positive number. It is calculated as shown below: Working Capital = Total Current Assets Total Current Liabilities Bankers look at Net Working Capital over time to determine a companys ability to weather financial crises. Loans are often tied to minimum working capital requirements. A general observation about these three Liquidity Ratios is that the higher they are the better, especially if you are relying to any significant extent on creditor money to finance assets. Leverage Ratio This Debt/Worth or Leverage Ratio indicates the extent to which the business is reliant on debt financing (creditor money versus owners equity): Total Liabilities Debt/Worth Ratio = _______________ Net Worth Generally, the higher this ratio, the more risky a creditor will perceive its exposure in your business, making it correspondingly harder to obtain credit. To financial ratio analysis Top Income Statement Ratio Analysis The following important State of Income Ratios measure profitability: Gross Margin Ratio This ratio is the percentage of sales dollars left after subtracting the cost of goods sold from net sales. It measures the percentage of sales dollars remaining (after obtaining or manufacturing the goods sold) available to pay the overhead expenses of the company. Comparison of your business ratios to those of similar businesses will reveal the relative strengths or weaknesses in your business. The Gross Margin Ratio is calculated as follows: Gross Profit Gross Margin Ratio = _______________ Net Sales (Gross Profit = Net Sales Cost of Goods Sold) Net Profit Margin Ratio This ratio is the percentage of sales dollars left after subtracting the Cost of Goods sold and all expenses, except income taxes. It provides a good opportunity to compare your companys return on sales with the performance of other companies in your industry. It is calculated before income tax because tax rates and tax liabilities vary from company to company for a wide variety of reasons, making comparisons after taxes much more difficult. The Net Profit Margin Ratio is calculated as follows: Net Profit Before Tax Net Profit Margin Ratio = _____________________ Net Sales Management Ratios Other important ratios, often referred to as Management Ratios, are also derived from Balance Sheet and Statement of Income information. Inventory Turnover Ratio This ratio reveals how well inventory is being managed. It is important because the more times inventory can be turned in a given operating cycle, the greater the profit. The Inventory Turnover Ratio is calculated as follows: Net Sales Inventory Turnover Ratio = ___________________________ Average Inventory at Cost Accounts Receivable Turnover Ratio This ratio indicates how well accounts receivable are being collected. If receivables are not collected reasonably in accordance with their terms, management should rethink its collection policy. If receivables are excessively slow in being converted to cash, liquidity could be severely impaired. The Accounts Receivable Turnover Ratio is calculated as follows: Net Credit Sales/Year __________________ = Daily Credit Sales 365 Days/Year Accounts Receivable Accounts Receivable Turnover (in days) = _________________________ Daily Credit Sales Return on Assets Ratio This measures how efficiently profits are being generated from the assets employed in the business when compared with the ratios of firms in a similar business. A low ratio in comparison with industry averages indicates an inefficient use of business assets. The Return on Assets Ratio is calculated as follows: Net Profit Before Tax Return on Assets = ________________________ Total Assets Return on Investment (ROI) Ratio. The ROI is perhaps the most important ratio of all. It is the percentage of return on funds invested in the business by its owners. In short, this ratio tells the owner whether or not all the effort put into the business has been worthwhile. If the ROI is less than the rate of return on an alternative, risk-free investment such as a bank savings account, the owner may be wiser to sell the company, put the money in such a savings instrument, and avoid the daily struggles of small business management. The ROI is calculated as follows: Net Profit before Tax Return on Investment = ____________________ Net Worth These Liquidity, Leverage, Profitability, and Management Ratios allow the business owner to identify trends in a business and to compare its progress with the performance of others through data published by various sources. The owner may thus determine the businesss relative strengths and weaknesses. Return on Equity(ROE,Return on average common equity,return on net worth,Return on ordinary shareholders funds) (requity) measures the rate of return on the ownership interest (shareholders equity) of the common stock owners. It measures a firms efficiency at generating profits from every unit of shareholders equity (also known as net assets or assets minus liabilities). ROE shows how well a company uses investment funds to generate earnings growth.