Ofw Remittances- an Economic Booster - 10937 Words

OFW remittances - an economic booster By definition, remittances are the transfer of money by migrant workers back to their family and friends staying in another country. Remittances facilitate economic growth all across the World. The World stands as a globalised village. Many people go aboard for better education or for a better lifestyle. Through Remittance they do not need to worry about their loved ones at home anymore. Remittance transfers have existed for centuries, but have only garnered the attention of people in the last couple of decades. Remittance Transfer could either be domestic or could be International. If the money is remitted within the same country then it is said to be Domestic. It is believed that almost ten†¦show more content†¦With the increase remittance expected this year; this would mean that the OFWs, once again, will play an important part in the Philippine Economy. The country is already gifted with its hard working OFWS and if only the government can generate more jobs internally for those who cant work abroad and if only they would try harder to attract investments into the country, life for everybody will improve and poverty will decrease. It is sad to say that more is needed for the government to do to protect one of its most important export commodities. The OFWS as a whole would like to see the government shows its appreciation through actions such as protecting prospective migrant workers from illegal recruiters and help those unfortunate distressed workers. For three decades now, t he government and the private sector have been announcing the positive impact of remittances. Aside from boosting the peso and easing the debt burden, remittances has somewhat tamed the inflation. In general, these have contributed to the rosy picture of the Philippine economy. In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation is also the erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy. A chief measure of price inflation

Hashshashin The Assassins of Persia

The Hashshashin, the original assassins, first got their start in  Persia, Syria, and Turkey and eventually spread to the rest of the Middle East, taking down political and financial rivals alike before their organization fell in the mid-1200s.   In the modern world, the word assassin denotes a mysterious figure in the shadows, bent on murder for purely political reasons rather than for love or money. Amazingly enough, that usage hasnt changed too much since the 11th, 12th and 13th centuries, when the Assassins of Persia struck fear and daggers into the hearts of the regions political and religious leaders. Origin of the Word Hashshashin Nobody knows with certainty where the name Hashshashin or Assassin came from. The most commonly-repeated theory holds that the word comes from the Arabic  hashishi, meaning hashish users. Chroniclers including  Marco Polo  claimed that the followers of Sabbah committed their political murders while under the influence of drugs, hence the derogatory nickname. However, this etymology may well have arisen after the name itself, as a creative attempt to explain its origins. In any case, Hasan-i Sabbah strictly interpreted the Korans injunction against intoxicants. A more convincing explanation cites the Egyptian Arabic word  hashasheen, meaning noisy people or troublemakers. Early History of the Assassins The Assassins library was destroyed when their fortress fell in 1256, so we do not have any original sources on their history from their own perspective. Most documentation of their existence that has survived  come from their enemies, or from fanciful second- or third-hand European accounts. However, we know that the Assassins were a branch of the Ismaili sect of Shia Islam. The founder of the Assassins was a Nizari Ismaili missionary called Hasan-i Sabbah, who infiltrated the castle at Alamut with his followers and bloodlessly ousted the resident king of Daylam in 1090. From this mountaintop fortress, Sabbah and his faithful followers established a network of strongholds and challenged the ruling Seljuk Turks, Sunni Muslims who controlled Persia at the time—Sabbahs group became known as the Hashshashin, or Assassins in English. In order to get rid of anti-Nizari rulers, clerics, and officials, the Assassins would carefully study the languages and cultures of their targets. An operative would then infiltrate the court or inner circle of the intended victim, sometimes serving for years as an advisor or servant; at an opportune moment, the Assassin would stab the  sultan, vizier, or mullah with a dagger in a surprise attack. Assassins were promised a place in Paradise following their martyrdom, which generally took place shortly after the attack—so they often did it mercilessly. As a result, officials throughout the Middle East were terrified of these surprise attacks; many took to wearing armor or chain-mail shirts under their clothes, just in case. The Assassins Victims For the most part, the Assassins victims were Seljuk Turks or their allies. The first and one of the best-known was Nizam al-Mulk, a Persian who served as vizier to the Seljuk court. He was killed in October of 1092 by an Assassin disguised as a Sufi mystic, and a Sunni caliph  named Mustarshid fell to Assassin daggers in 1131 during a succession dispute. In 1213, the sharif of the holy city of Mecca lost his cousin to an Assassin. He was particularly upset about the attack because this cousin closely resembled him. Convinced that he was the real target, he took all Persian and Syrian pilgrims hostage until a rich lady from Alamut paid their ransom. As Shiites, many Persians had long felt mistreated by the Arabic Sunni Muslims who controlled the Caliphate for centuries. When the power of the caliphs faltered in the 10th to 11th centuries, and Christian Crusaders began to attack their outposts in the eastern Mediterranean, the Shia thought their moment had come. However, a new menace arose to the east in the form of the newly-converted Turks. Fervent in their beliefs and militarily powerful, the Sunni Seljuks took control of a vast region including Persia. Outnumbered, the Nizari Shia could not defeat them in open battle. From a series of mountaintop fortresses in Persia and Syria, however, they could assassinate Seljuk leaders and strike fear into their allies. The Advance of the Mongols In 1219, the ruler of Khwarezm, in what is now Uzbekistan, made a huge mistake. He had a group of Mongol traders murdered in his city. Genghis Khan was furious at this affront and led his army into Central Asia to punish Khwarezm. Prudently, the leader of the Assassins pledged loyalty to the Mongols at that time—by 1237, the Mongols had conquered most of Central Asia. All of Persia had fallen except for the strongholds of the Assassins—perhaps as many as 100 mountain fortresses.   The Assassins had enjoyed a relatively free hand in the region between the Mongols 1219 conquest of Kwarezm and the 1250s. The Mongols were focusing elsewhere and ruled lightly. However, Genghis Khans grandson Mongke Khan grew determined to conquer the Islamic lands by taking Baghdad, the seat of the caliphate. Fearful of this renewed interest in his region, the Assassin leader sent a team to kill Mongke. They were supposed to pretend to offer submission to the Mongol khan and then stab him. Mongkes guards suspected treachery and turned the Assassins away, but the damage was done. Mongke was determined to end the threat of the Assassins once and for all. The Downfall of the Assassins Mongke Khans brother Hulagu set out to besiege the Assassins in their primary fortress at Alamut where the sect leader who ordered the attack on Mongke had been killed by his own followers for drunkenness, and his rather useless son now held power. The Mongols threw all of their military might against Alamut while also offering clemency if the Assassin leader would surrender. On November 19, 1256, he did so. Hulagu paraded the captured leader in front of all the remaining strongholds and one by one they capitulated. The Mongols tore down the castles at Alamut and other places so that the Assassins could not take refuge and regroup there. The following year, the former Assassin leader asked permission to travel to Karakoram, the Mongol capital, in order to offer his submission to Mongke Khan in person. After the arduous journey, he arrived but was denied an audience. Instead, he and his followers were taken out into the surrounding mountains and killed. It was the end of the Assassins. Further Reading assassin, n. OED Online, Oxford University Press, September 2019.  Shahid, Natasha. 2016. Sectarianist writings in Islam: Prejudice against the Hashshashin in 12th and 13th century Muslim historiography. International Journal of Arts Sciences 9.3 (2016): 437–448.Van Engleland, Anicà ©e. Assassins (Hashshashin). Religion and Violence: An Encyclopedia of Faith and Conflict from Antiquity to the Present. Ed. Ross, Jeffrey Ian. London: Routledge, 2011. 78–82.

Irvings American Progeny Essay - 2796 Words

Irvings American Progeny Washington Irving had the unique opportunity of helping a new nation forge its own identity. America, fresh out of the revolution, looked for an author to take charge and create something that seemed to be missing from the newly born nation. He took this responsibility seriously and made a mythology that founded an American literary tradition. He took bits and pieces from the Old World and incorporated them into the New in such a manner that what he wrote appeared original, and yet tied into a tradition that was centuries old. He did this in a manner that astonished many Europeans who believed an American could never produce literature with such a strong English foundation. Although Irving relied heavily on†¦show more content†¦Irving used his characters as depictions of American ideals and emotions in order to show the drastic change that had recently occurred. Sleeping through the American Revolution forced Rip Van Winkle to cope with the amazing changes that had taken place while he was asleep. â€Å"Rip’s country has changed its name. On the hotel sign, George III has given way to George Washington. Rip is no longer even Rip Van Winkle; his own son now answers to that designation,† (Hedges, 140). â€Å"From Rip’s point of view, the village he left represented private turmoil and public tranquility. At the story’s end, Rip enjoys private tranquility in a village given over to public turmoil. It is almost as if the one is the price that Rip has to pay for the other,† (Roth, 158-159). Rip’s world had undergone unpredictable changes, but he quickly got back into the swing of his old easygoing life swapping stories outside of the hotel. Irving also demonstrated the volatility of the times by his definition of history. â€Å"Irving’s introduction of Ichabod Crane defines a particular problem of the early American writer. â€Å"In this by-place of nature,† he writes, â€Å"there abode, in a remote period of American history, that is to say, some thirty years since, a worthy wight of the name Ichabod Crane.† The archaic substantive wight serves to emphasize the incongruityShow MoreRelated Invisible Man Essay: Invisible Man and the Pre-Made Identity1559 Words   |  7 Pagesperson, hidden beneath societys expectations. The true self thus becomes Invisible. The Invisible Man, by Ralph Ellison, provides characters that exemplify each of the three options. The novel is written in the perspective of a young African American man who migrated to New York City from the South. It is told in flashback. The narrator begins his story already knowing of his invisibility and details the events and people in his life that lead him to that realization. The narrator never namesRead MoreEssay on Evolution From A Molecular Perspective3053 Words   |  13 Pagesdue to the fact that both views have very good points. Hemoglobin: Comparisons between species nbsp;nbsp;nbsp;nbsp;nbsp;Of all the proteins in living things, hemoglobin is quot;the second most interesting substance in the world,quot; as American biochemist L. J. Henderson once stated (Hemoglobin, 4). However bold this statement seems, it must be realized that hemoglobin is, at least in the scientific world, by far the most studied and most discussed substance in the human body, as well as

The Impact of the End of the Cold War on Us Foreign Policy

Discuss the impact of the end of the Cold War on US foreign policy Introduction: When the world famous liberal thinker Francis Fukuyama in his masterpiece declared that we were witnessing the end of the history, he was greeting the new political structure and also the new international environment, which is peaceful[1]. However, developments that occurred after the collapse of the Soviet Union showed us that the dissolution of the Soviets was unexpected. The international society was not ready for peace and Fukuyama’s optimistic assumptions were far from becoming real. Moreover, the international society currently started to realise that the tension and the potential of mass destructive war during the Cold War era had provided a†¦show more content†¦The competition and increasing awareness on democratic rights did force the Soviets to stand back and make some major policy changes in 1980s. The Soviet Premier of the time Gorbachev tried to set some political and social reforms in the soviet society in order to ease the pressure and help Soviets to continue to survive in the international arena. Moreover, the Soviets did not only make shifts in their internal policies but also in their foreign policy understanding as well. For instance withdrawal from Afghanistan, signing of various nuclear deterrence agreements with multi parties including the US are some of the key changes that occurred in the 1980s. However, the reforms of Gorbachev did not prevent the Soviets to stop its collapse and eventually after a series of events in 1991 the Soviet Union formally announced its dissolution[7]. The First Ten Years: Although the indications were present well before the collapse of the Soviet Union, the world was not completely ready for the end of the Cold War. The US was left alone without any major balancing opponents. Furthermore, after the dissolution of the Soviets the numbers of newly established independent states have increased significantly. All these new states were lacking of self-governing capabilities and also the Western vision, which was the victorious ideology of the Cold war. Moreover, someShow MoreRelatedPost-Cold War US Foreign Policy1417 Words   |  6 PagesPost-Cold War US Foreign Relations The Cold War and its ending with the dismantling of the Soviet Union and a great reduction in the threat of communism as a competing system to capitalism and democratic governance changed the focus of US foreign policy. The change did not happen overnight and has ebbed and flowed significantly across time, often associated with the nature of foreign conflicts and US involvement in them but change it did (Saull, 2007, p. 180). The reduction of the size, might andRead MoreImpact Of Domestic Politics On German Foreign And Security Policy1648 Words   |  7 PagesDiscuss the impact domestic politics has on German foreign and security policy. Germany is arguably one of the key global political actors. It’s extremely prominent, especially within international relations, and is also regarded as being economically, politically and geographically at the center of Europe. Germany’s success in Europe is considered to be due to its post-world war shift in ideologies and political culture and structures, from authoritarianism to democracy which inevitably createdRead MoreTaking a Look at the Cold War996 Words   |  4 Pagesthe end of World War II in the summer of 1945. The Soviet Union and the United States, having been on the Allies fighting against the Axis, were both victorious world superpowers at the end of WWII. 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These shows leave viewers with historical facts from the past. Not everyone was happy, a group of civilians and nonconformists pointed out the flaws in a suburb they believed had no moral, a government that was growing viciously with power. A lifestyle

Macroeconomics Assignment

Questions: Table 1: GDP Data for Countries A and B Country A Country B $billions $billions Household Consumption 150 150 Government Purchases 250 250 Transfer payments 50 60 Total Gross Fixed Capital Expenditures 50 150 Change in Inventories 50 -50 Exports 40 40 Imports 20 20 Consider the data in table 1 for two countries: A and B. a. Calculate the GDP for both countries. b. Discuss the usefulness of these data in deciding which, if any, of these two countries is likely to be experiencing an economic recession. Answers: a. Gross Domestic Product is the fundamental indicator to measure the economic health of a country. It is the total value of final goods and services produced in a country for final user. It is generally measured annually to observe the annual change in an economy (Egerer, Langmantel and Zimmer 2016). The components of GDP are investment; government expenditure; private consumption and net trade balance, i.e., GDP= Investment (I) + Government Expenditure (G) + Consumption (C) + [Export (X) Import (M)]. Total Gross Fixed Capital expenditure and changes in Inventories are the indicators of investment. Household consumption falls under consumption. The purchases made by government are the government expenditure. The transfer payment is not considered as a component of GDP. This is because; it is a one-way transfer of money and involves on exchange of goods and services. This implies that this money does not create any value to the production of the country. Therefore, from the given data, the transfer payment will not be taken into account while calculating the GDP of the country A and B. For Country A, GDP = I +G + C + (X M) GDP= Total Gross Fixed Capital Expenditure + Inventories + Government Purchases + Household Consumption + (Export Import) $ [50 + 50 + 250 + 150 + (40 20)] billion = 520 billion dollars For Country B, GDP = I +G + C + (X M) GDP= Total Gross Fixed Capital Expenditure + Inventories + Government Purchases + Household Consumption + (Export Import) $ [150 50 + 250 + 150 + (40- 20)] billion = 520 billion dollars b. In the given data of two countries, the values of each component are same. However, the total fixed capital expenditure and changes in the inventories are the two components whose values are different. Therefore, by comparing these two components the economic scenario can be assessed. Gross Fixed Capital Expenditure is the acquisition value of fixed assets. In includes the changes in net physical assets and does not take into account the components of investments like stock of inventories; financial assets; exchange of land etc (Robinson 2013). However, improvement in the value of land is considered as fixed capital expenditure. The countries with rapid economic growth invest huge amount in fixed capital assets. Therefore, when the fixed capital expenditure is increased then the country is in a prosperous condition and this in turn will further increase the gross fixed capital expenditure. Poorest countries cannot afford investment. Hence, when this indicator of GDP tends to fall it implies that there will be a fall in the GDP as well (Bodie 2013). Therefore, as an economy is approaching towards the recessionary phase, the Gross Fixed Capital Expenditure declines. In the given case, the Gross Fixed Capital Expenditure is more in country B than country A. Hence, economic situation in country B is better than the other one. The changes in inventory indicate the rise or fall in the stocks of final goods. Inventories can be changed planned wise. It is the flow of stocks of unsold goods. Therefore, it is a component of investment. When inventories is accumulated, which is unplanned, implies that the produced goods are not sold (Van Deusen, Roesch and Wigley 2013). Therefore, the business will cut down its production, as there is lack of demand in the market. Since production is reduced it means that economy is moving towards recession. Similarly, if the inventories start to clear out, this indicates that demand is generating. So economy is not going to face any kind of downward movement in near future. In the given case, the country Bs inventories indicates a negative change, which implies the inventory is getting cleared. This is a good sign for an economy. In contrast, the inventory is accumulating in country A, indicating lack of demand in the economy. Hence, this countrys situation is worse than countr y B. Combining the changes in these two components, country A is more likely to be experiencing the economic recession.

Financial Accounting Complex Working Mechanism

Question: Describe about the Financial Accounting for Complex Working Mechanism. Answer: Introduction The modern world as we know it is full of competitive organizations based on complex working mechanism and this requires the use of extensive machinery and use of capitals from the entrepreneur and the market. Every organization working in an economic environment involves the use of assets and liabilities, and a proper balance of these two traits is useful for efficient working of an industry. If there is an imbalance in these to accounts, it results in a drop in the value of the organization. Every industry needs to maintain its assets more than its liabilities to active in the market and keep profit because very firm enters into the market to earn a profit. This assignment is based on the case study of the three companies, namely HIH Insurance, ABC Learning and One Tel company. These industries are few examples of Australian companies, which have gone into liquidation due to incapability to meet their liabilities (Thai, 2013). This assignment evaluates the reasons behind the liquidation of these businesses and the corporate governance and the ethics of these industries and their demerits, which led to the liquidation of these organizations. The study also verifies whether an inability to pay off the liabilities was a major issue behind the liquidation of these industries. Analysis The following assignment in detail deals with the assessment of HIH insurance, ABC Learning, and One Tel company in detail discussing them and their ethics and governance. The discussion and the assessment of these organizations are as follows: HIH Insurance HIH insurance is one of the fastest growing insurance company in Australia which was established in 1968 and till then it has been growing since. But on 15th March 2001, the company went into provisional liquidation because it was incapable to pay off its debts on time. The collapse of this firm was one of the largest falls in the corporate history of Australia. This fall led to an adverse effect on the society, and the consumers were in a dilemma to invest in the company. From audits point of view, the collapse of this organization was due to the financial stress of the firm, which occurred due to lack of corporate governance practice and having a poor framework for ethics and governance. The main reason for the fall of this company in the financial perspective was due to the inability for the industry to pay off claims of its policyholders and other loans taken by them. The finance resource management of the company was indigent which led to a weak cash position of the company, whi ch was one of the due reasons for the collapse of the company. We all know that every organization entering a market has the ultimate goal of earning a profit in the long run just to survive in the business. So the cash position of any company will determine the financial and operating policies of the organization. Thus to analyze the problem of HIH insurance it is evident to evaluate the operating and the financial activities to determine the true reason for its liquidation (Phillips, 2013). The liquidation of this company resulted in the establishment of a Royal Commission which was asked to look at the grounds for the collapse of the organization. The results obtained by this commission made adverse reforms in the corporate laws of Australia. The industry having such a remarkable ethics and governance could fall so rapidly was a question to everyone. The report provided that the collapse of the sector was due to arrogance and self-pride and due to an inadequate supervision and lack of system rather than any fraud in the framework. It was discovered that some management employees neglected their duties, and so they were suspended from any involvement in the company indefinitely along with financial penalties. The company was thought to be an organization with a traditional corporate culture and thus a collapse of the organization due to weak ethics and governance came out as a surprise for everyone. The company was run by an appealing and controlling CEO who always undertook practices of high risk in the competitive markets to earn high revenue and establish its organization as one of the leaders in the insurance industry. Few members of the board of directors of the company were partners of the firm run by the auditor, and thus these directors did not have freedom to take decisions themselves. The other leaders of the industry complained that they were misled about the actual financial position of the company. The industry had an attacking accusation strategy, and thus, there grew a conflict between maximizing profit and adhering to a proper corporate governance. The reason for the bankruptcy of the organization was also found out to be a collision between the entrepreneurs, managers, an d debtors inside the organization. A balance between the stockholder and the debtors is necessary to maintain the value of the company and for this purpose, corporate governance is a key factor. Thus the liquidation of the industry is due in large part to the faulty corporate governance of the organization. According to Johnston and Too (2015), the company had a false outlook showing everyone that they progressed according to a structured ethics and corporate governance whereas they had a faulty management framework which led to the collapse of the industry so rapidly. The commission after a series of investigation recommended a lot of governance changes which resulted in the creation of corporate governance principles which would guide all the organizations in Australia. The commission also realized that a good corporate governance is achievable through a mixture of regulatory action, application of company codes of governance and ethics and the method of best practice in the organization. Thus it has been found out he reason for financial stress for HIH insurance company was mainly due to a faulty corporate and ethics governance, which at last led to the liquidation of the enterprise. One Tel phone company One Tel phone company was one of the leaders in the telecommunication sectors of Australia. The industry was founded in 1995 after the deregulation of the telecom sectors in Australia. The industry created a youth based image to market their product of phone and internet services. But later in 1999, this industry also started to face problems like HIH insurance and the problems which led to their liquidation was also due to an inefficient corporate governance system. The company was in operation in across seven countries when the industry fell with annual sales of around AU$ 650 million approx. The company was in a safe financial condition, but the only problem within the organization was their inadequate governance structure. The two CEOs of this organization had an immense authority over the board of directors that the organization never had a constant Chairman in position, which leads to an ad hoc based Chairman which was held by the CEO s or the executive directors according to the situation. The non-executive directors were free from supervision, which led to the lapse in the management system. Such mistakes led to weak corporate governance and wrong auditing practices because the executive directors and the CEO controlled all of these (Durie, 2013). Thus, One Tel broke down due to a large number of failures in the corporate governance. The primary reason behind this breakdown was due to extreme power and authority of the CEOs over the powerless board of directors, which meant that the decisions and policies taken by them were ultimate. Such a situation meant that the board of directors became inefficient and reduced their capacity to render efficient and supervision and control over the lower level management and the employees. The second reason behind One Tels demise was the inability of the investors of the organization who were reluctant to look in to the operations of the management and were entirely dependent on the decisions of the CEOs and the directors which overlooked the actual financial condition of the organization. The third reason for the decline of this organization was the inefficiency of the non-executive directors of the organization as they had a close relation with the CEOs, which prompted them from working a ccording to the ethics of the organization. The non-executive directors avoided their responsibilities because they knew all the decisions would be taken by the CEOs. The auditor of the company had a conflicting interest with the board of directors, which was negotiated with the arrangement of non-audit services of the industry. Lastly, the Chair of the board of directors was dependent and thus an adequate supervision of the management control and conduct of the agenda of the board of directors was not possible. Thus from the above analysis, it is clear that the reason for a liquidation of this organization was mainly due to the faulty ethics and corporate governance framework and did not include any liability issue. ABC Learning ABC Learning was a daycare school situated in Australia with the primary motive to provide training, learning and proper monitoring of infants in the pre school age. ABC Learning was established in the year 1988 and soon became the largest day care center all over the country. The day care school operated in the form of an organization and maintained a corporate management system, which led to the growth of the organization in a short period. The growth was visible from later 90s and the organization had more than eighteen centers whole over the country. The company grew more and more in the later years, and this resulted in an immense increase in the price of the shares in the stock market. Every organization goes through highs and lows in the span of business, and so ABC Learning's fortune started fluctuating and started facing trouble. Out of all the reasons, some of the reasons were due to mismanagement of the organization internally. An improper management and corporate governance are one of the main grounds for the downfall of the business. The rise of the organization was generally due to the standard of education provided by the other institutions to the children. The rule of maintaining a proper ratio of student to teacher was not supported because this would lead to a fall in the profit of the organizations. The standard of education thus started degrading as there were not as many teachers according to the children in the school. The financial position of the companies though remained in a proper state, but the remunerations provided to their staffs were not adequate. The small non-profit making organizations were more aggressive in paying off their profits to their workers. There was a difference in quality. The corporate chain management of the organization did not expect the shift of these children to ABC Learning. The company went on operating its way and thus resulted in the financial and operating problem in the organization. Another reason in the growth of this organization was due to policies of the Governm ent. The fall in the economic and financial problems of the organization came into existence during universal financial crisis during the year 2008, which had a long- term impact of the company. The company was aware of the misdeeds it committed during the time of expansion and if it had rectified then, such a time would not have come. The primary reasons for the downfall of ABC Learning are as follows: Financial Disparity The financial conflict in the organization was one of the major reasons for its downfall. According to ACCC, the destruction of this institution was mainly due to financial miscalculations rather than increased rivalry in the market. The financial mismanagements in the sectors of high debts and abnormal acquisitions was another relevant issue. The company also provided false financial information, which attracted more investors and a good loyalty base in the market for the industry which became unrealistic at the time of global crisis. At the time of financial problem in 2008, the cracks in the infrastructure of the organization came into limelight, and the ordinary customers became aware of their misdeeds. The subtle crisis opened the eyes of the Government of all the countries, and they became more alert about the malpractices of the organizations. The financial reports and statements provided by ABC Learning showed that their assets consisted of mostly intangible assets like operating licenses etc. The operating license having such a significant part in the asset of an organization made doubt in the mind of the Government and finally the Government decided to set up an investigation team to realize the value of these licenses. It was thus found out that the operating licenses, which the industry claimed to be of high value, in reality, did not have any value at all in the trading point of view. This was a malpractice used by the organization to attract investors from the market to invest in their shares and thus increasing the price of the share. Thus it was determined that ABC Learning was guilty of fraudulent financial practices, and thus the value of all the shares fell, and legal steps were also taken against the organization. Transactions The organization was able to rise to such a promising position with the help of related party transactions, but the mistake committed by the organization was due to abidance of the corporate governance rules. There were many related party transactions made by ABC Learning to increase its share price during its booming period. For example, The industry-sponsored the basket ball team named Brisbane Bullets. But the organization confirmed that these transactions were not related to the organization, and there was no concern of the industry regarding these transactions. This example of poor corporate governance led to the extinction of the confidence of the investors in the organization. Thus it can be seen that ABC Learning grew like a phoenix in a short time span and collapsed like a pack of cards when the damaged structures came into light. This showed that the management of the industry was ineffective to control the growth it was having because it focused on growing avoiding to strengthen its root through proper ethical and corporate governance. So from the above study, it is found that the company collapsed due to financial malpractices, but this mistake was made due to lack of corporate governance (Jones, 2016). Recommendations From the above analysis, it is for certain that every organization requires a sound corporate governance internally so that a good supervision and monitoring will eliminate the chances of avoidance of responsibility and also creating a sense of responsibility within the management. The financial stress and liquidation of these companies were indirectly due to a lack of corporate governance because a good supervision and evaluation of these principles by the industries would not have led to this present condition. Conclusion The above assessment of these three organizations reflects that all the three industries collapsed due to their ineffective and inefficient ethical and corporate governance frameworks. HIH insurance, ABC Learning and One Tel company each had different problems all together one having a poor governance, and the other two having financial stress due to incapable corporate governance. So it is in the opinion that a proper corporate governance model is essentially required by the organizations for a smooth running of the industries and being competitive in the market. The best routine for corporate governance is primarily needed to provide good financial achievements and optimize the returns to the investors. The cases of these three industries illustrate that corporate governance is way over the common guidelines in the market. HIH had a remarkable supervision model, but it was ineffective where as One Tel and ABC Learning disrespected the good principles of corporate governance. All the organizations neglected the periodical evaluation of their corporate governance. Such liquidations of these companies led to the creation of new codes and rules introduced by the Government to avoid such cases shortly conserving the feelings and sentiments of the normal citizen of the country. Reference List Beekes, W., Brown, P. and Zhang, Q., 2015. Corporate governance and the informativeness of disclosures in Australia: a reà ¢Ã¢â€š ¬Ã‚ examination. Accounting Finance, 55(4), pp.931-963 Durie, E.T., 2013. Ethics and values in Maori research. He pukenga korero, 4(1). Faden, R.R., Kass, N.E., Goodman, S.N., Pronovost, P., Tunis, S. and Beauchamp, T.L., 2013. An ethics framework for a learning health care system: a departure from traditional research ethics and clinical ethics. Hastings Center Report, 43(s1), pp.S16-S27 Harford, J., Mansi, S.A. and Maxwell, W.F., 2012. Corporate governance and firm cash holdings in the US. In Corporate Governance (pp. 107-138). Springer Berlin Heidelberg Hodne, N., Murphy, S., Ottenbacher, M. and Ruggles, T., 2013. Australia and the United States: A Comparison and Contrast of Corporate Governance Practices. Jefferson, G., Korbut, A., Sacks, H. and Schegloff, E., 2015. A simplest systematics for the organization of turn-taking for conversation Johnston, N. and Too, E., 2015. Multi-owned properties in Australia: a governance typology of issues and outcomes. International Journal of Housing Markets and Analysis, 8(4), pp.451-470 Jones, S., 2016. A Cash Flow Based Model of Corporate Bankruptcy in Australia. Journal of Applied Management Accounting Research, 14(1), p.23 McCahery, J.A., Sautner, Z. and Starks, L.T., 2016. Behind the scenes: The corporate governance preferences of institutional investors. The Journal of Finance. McNulty, T., Zattoni, A. and Douglas, T., 2013. Developing corporate governance research through qualitative methods: A review of previous studies. Corporate Governance: An International Review, 21(2), pp.183-198 Phillips, A., 2013. An analysis of official liquidations in Australia: Terry Taylor Scholarship 2012. Australian Insolvency Journal, 25(2), p.4 S., Schilling, C. and Sheedy, E.A., 2014, August. The Effect of Risk Governance in the Insurance Sector During the Financial Crisis-Empirical Evidence from an International Sample. In 27th Australasian Finance and Banking Conference. Sisman, F.A., Yozgat, U., Abunaz, E. and Ozarslan, T., 2015. IMPORTANCE OF TRANSPARENCY ON SUSTAINABLE SUCCESS ORIENTATION. Research Journal of Business and Management, 2(3), pp.366-379 Thai, L., 2013. Calling for reform to the statutory derivative action in Australia: critical analysis and suggestions for reform. Insolvency law journal, 21(4), pp.242-262 Tricker, B., 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA Tyson, N. and Hackett, J., 2013. Insolvency: Limits in obtaining orders to issue creditor notices electronically in creditors' voluntary liquidation. Law Society Journal: the official journal of the Law Society of New South Wales, 51(11), p.52 Wappett, C., 2016. Equipment leasing and the PPSA-another painful lesson: Forge group power pty limited (in liquidation)(receivers and managers appointed) v General Electric International Inc.[2016] NSWSC 52. Proctor, The, 36(6), p.32 X., ajella Percy, M., Hu, F. and Stewart, J., 2014. Corporate Governance and Stock Option Vesting Conditions: Evidence from Australia Zattoni, A., Douglas, T. and Judge, W., 2013. Developing corporate governance theory through qualitative research. Corporate Governance: An International Review, 21(2), pp.119-122

Capital Budgeting Decisions

Question: Discuss about theCapital Budgeting Decisions. Answer: Definition of the Problem The purpose of the report is to help the GM (A Large Carpentering Firm) to take the investment decision. GM wants to replace one of its existing sawing machines with the new one. For this purpose, two alternate sawing machines are considered, machine A is fully automated while machine B operates on standard technology. The problem is to find out which machine will be best suitable for replacement through using capital budgeting techniques such as NPV, IRR and pay back period method. Objectives There is clear objective to evaluate proposed Machines (A and B) with the help of various techniques of capital budgeting techniques. Another purpose is to guide management of GM on selection of best alternative through applying practical as well as theoretical aspects of capital budgeting. Methods Used In order to evaluate the Machine A and Machine B through using capital budgeting methods, following methods have been used. Pay Back Period Method Pay back period method is one of the most used methods used for capital budgeting decisions. It measures the length of time required to recollect the expenses made on the project in first year. It helps to analyst to know whether to undertake the project or not. Longer pay back periods are not desirable for investment purpose as compare to project where cost of project is recovered in less time (Brigham and Ehrhardt, 2011). This method does not consider time value of money and cash inflows are subject to any present value factor as in case of other methods. In case GM firm, Mr. David wants to evaluate two machines on pay back period basis. Calculations are as under: Machine A Machine B Years Cash Inflows Cumulative Cash Inflows Cash Inflows Cumulative Cash Inflows 1 128000 128000 88000 88000 2 182000 310000 120000 208000 3 166000 476000 96000 304000 4 168000 644000 86000 390000 5 450000 1094000 207000 597000 Cost of Machine A: $660,000 Cost of Machine B: $360,000 Pay Back Period of Machine A: 4 years + [(660,000-644,000)/ (1,094,000-644,000)] years = 4 years +0.053 years = 4.053 years Pay Back period of Machine B: 3 years + [(360000-304000/ (390000-304000)] years = 3.65 years Net Present Value Net present value is the difference of present value of cash inflow and present value of cash outflows. This method is used in capital budgeting decisions and helps in evaluating the profitability of project or investment. This method considers time value of money, so, it is regarded as one of best method to evaluate the project for capital budgeting purpose (Pratt, 2010). Machine A Years Cash Inflows Present Value Factor @ 13% Present Value @13% 1 $ 128,000.00 0.885 $ 113,274.34 2 $ 182,000.00 0.783 $ 142,532.70 3 $ 166,000.00 0.693 $ 115,046.33 4 $ 168,000.00 0.613 $ 103,037.55 5 $ 450,000.00 0.543 $ 244,241.97 Total $ 718,132.88 Machine B Years Cash Inflows Present Value Factor @ 13% Present Value @13% 1 $ 88,000.00 0.885 $ 77,876.11 2 $ 120,000.00 0.783 $ 93,977.60 3 $ 96,000.00 0.693 $ 66,532.82 4 $ 86,000.00 0.613 $ 52,745.41 5 $ 207,000.00 0.543 $ 112,351.31 Total $ 403,483.24 Net Present Value of Machine A: Present value of cash inflows for Machine A Present values of cash outflows for Machine A = $ 718,132.88 - $ 660,000 = $ 58132.88 Net Present Value of Machine B: Present value of cash inflows for Machine B Present values of cash outflows for Machine B = $ 403,483.24 - $ 360,000 = $ 43483.24 Internal Rate of Return Internal rate of return refers to an interest rate where all the present value of cash inflows and cash outflows become zero. This interest rate is the rate at which project will earn if that project is selected (Drake and Fabozzi, 2012). This method of capital budgeting is used to analyze the attractiveness of the project. Project or investment is selected in case IRR is more than the firm required rate of return. Project or investment is rejected where IRR is less than the firm required rate of return. In the case of GM Company, the required rate of return is 13 %. On analyses if it has been found that IRR of Machine A or B is greater than that machine will be selected which has highest IRR (Fridson and Alvarez, 2011). IRR of Machine A: 15.95% IRR of Machine B: 17.34% Key Findings On the basis of above analysis, the key findings are as under: Method Machine A Machine B Pay Back Period 4.053 years 3.65 years Net present Value $ 58,132.88 $ 43,883.24 Internal rate of return 15.95% 17.34% Pay Back Period: As per this method such machine must be selected that has low pay back period. In this case Machine B has low pay back period therefore using rank method, rank 1 is given to machine B and rank 2 is given to machine A (Menicucci, 2014). Net present value method: This method considers time value of money and project having highest NPV will be selected for investment purpose. In the case GM Firm, Machine A provides NPV of $ 58,132.88 while Machine B provides NPV of $ 43,883.24. So, Machine A provides higher NPV as compared to Machine B. On the basis of ranking, Machine (A) ranks 1 and Machine (B) ranks 2. Internal of rate of return: According to this method, project must be selected if it has higher IRR as compared to firm required rate of return. In the case of GM, when IRR of both machines are considered than it has been found that both are greater than firm required rate of return. So, machine that has higher IRR among both will be given rank 1 and other one will rank 2. Conclusions Rankings of Machines as per the method Method Machine A Machine B Pay Back Period Rank 2 Rank 1 Net present Value Rank 1 Rank 2 Internal rate of return Rank 2 Rank 1 On the basis of various factors and ranking procedure applied to choose either machine A and B, it is concluded that GM firm must invest in Machine B to receive the outflows in less time period with highest IRR. As regards to NPV, Machine A has to be selected but it is also true that both machines have positive NPV (Staubus, 2013). Recommendations It is recommended to GM Firm to invest in Machine B due to higher IRR and low pay back period. While making decision of investment, company must be considered other factors of decision like technology, indirect cost and relevance of machine in future. Others Factors that Firm must Consider There are many other factors that firm must considered while taking the investment decisions. Every investment requires outflow of cash at the beginning keeping in mind that such investment will provide higher benefits in future years (Bull, 2007). Therefore, decision related to plant and machine must be evaluated using capital budgeting methods but it is also important to consider factors like technology used in machine, other cost related with machine and functional capacity of the machine. In case of GM firm, Mr. David should consider following factors: Technology: According to technology firm must select Machine A, because it is fully automatic and take less time for manufacturing products as compare to Machine B. Other cost: There are certain costs that are not considered while making analysis through capital budgeting methods. Such cost can be overhead cost like repairing cost of machine, expenses for operator required for fully automatic machine etc (Mumba, 2013). References Brigham, E. F. and Ehrhardt, M. C. 2011. Financial Management: Theory and Practice. Mason: Cengage Learning. Bull, R. 2007. Financial Ratios: How to use financial ratios to maximize value and success for your businesses. Elsevier. Drake, P. P. and Fabozzi, F. J. 2012. Analysis of Financial Statements. John Wiley Sons. Fridson, M. S. and Alvarez, F. 2011. Financial Statement Analysis: A Practitioner's Guide. John Wiley Sons. Menicucci, E. 2014. Fair Value Accounting: Key Issues Arising from the Financial Crisis. Springer. Mumba, C. 2013. Understanding Accounting and Finance: Theory and Practice. USA: Trafford Publishing. Pratt, J. 2010. Financial Accounting in an Economic Context. John Wiley Sons. Staubus, G.J. 2013. The Decision Usefulness Theory of Accounting: A Limited History. Routledge.

Introduction To Kinesiology Essay Example

Introduction To Kinesiology Paper CLOSED KINEMATIC CHAIN-proximal moves on distal, while distal is stable. Ex) dorsiflexion of ankle, when stand while trying to sit down tibia and fibula moves while distal bones are stable. Ex)push up, pull against the wall, help get up from chair.  Synarthrosis-have no movement ex) sutures in the scull  Amphiarthrosis-fibrocartilage or cart b/w bones to allow little movem. Ex) pubis, and cart b/w manubrium and sternum. Diarthrosis (Synovial)-one joint is concave the other is convex. Synovial fluid inclosed in joint sac and fibrocart and articularcart to cushion joint, worn out joint cause osteoporosis. Have ligament surr the joint to prevent excess movement. Ex) uniaxial joint has 2 collateral lig to prevent lig sprain.Capsule and muscles also prohibit excess movement.  Plane Joints-glide, slide or shift but has no axis of rotation (non-axial) translitory. Ex) intercarpal and intertarsal joints.  Hinge Joints-motion in 1plain or 1 axis. Strong collateral lig on each side ex) finger 1) Pivot (Trochoid) Joints-b/w axis and atlas or b/w radius and ulna to allow rotation  2) Condyloid Joints-2 plains of motion ex) wrist  3) Saddle (Sellar) Joints-ex)potato chip, sternoclavicular joint  4) Ball and Socket Joints-hip and glenohumeral joint  Each joint has one close pack position when the concave and convex surfaces are snug in fit (highly congruent). This point in the range of motion is the most stable position for that joint. Typically, critical ligaments are at their most taut (cant be stretched any further) in the close pack position. We will write a custom essay sample on Introduction To Kinesiology specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Introduction To Kinesiology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Introduction To Kinesiology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer An open pack position is when the ligaments are lax and there is potential for joint play. When providing joint mobilization (a therapeutic intervention), the therapist must be sure the joint is in an open pack position.  Classical Motion- Movements that produce observable/measurable changes in joint range of motion. May be active or passive. Can be voluntarily controlled  Accessory Motion-Movements that accompany classical motions and are essential to normal full range and painless function  JOINT PLAY MOTIONS-every joint can be moved passively with the help of external force. Ex) DIP joint  COMPONENT MOTIONS-movement at joint complex. Movement at another bony segment that is part of the larger component. Ex) humerus moves on scapula.   ROLLING/SLIDING (GLIDING)/ SPINNING- Rolling is rotary motion(rocking chair), sliding or gliding is translatory(iceskates on ice), spinning is atlantoaxial  CONVEX RULE: When a convex surface moves on a stable concave surface, the slide and roll will be in opposite directions.  CONCAVE RULE: When a concave surface moves on a stable convex surface, the slide and roll will be in the same direction.