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4-Mat Review on Entwistle Chelesea Snyder Liberty University Summary If you are looking for both sides of the argument Integrative Approaches to Psycology and Christianity is your book. If gives the different models and different theories to back each one up completely. Integrative Approaches to Psychology and Christianity was a great read. Entwistle did an amazing job on putting together a great read with some different aspects to things. The author’s thoughts are trying to explain the truth of God’s word and show the insights it has on psychology.Integration which there were several different theories and approaches to the two, is what this book revolved around. The argumentation of integration and psychology are still a question with no right or wrong answers. While most of his arguments had biblical truths with in them he could argue that they didn’t. The psychology world has seen many pros to people believing in Christianity. It’s been a great stress reliever as well as a different mindset for people. The book explains that t sacred and secular combatants when it comes to the truth.Human nature is we are all born with sin having good and evil within our souls and hearts. Within the reading society has seemed to always struggle on integrating the two. You have government that tells us we must separate church and state, you have some within society that would like to see the two integrate together again. We have seen in Entwistles works that people have within the church come up with science ideals. These approaches and studies however were hidden because religion was scared they no longer had the answers.For these two different parts of life to truthfully integrate people are going to have to put their feelings aside and work together; compromise is the only way these two will always over shadow the other. Epistemology, metaphysics and philosophical anthropologies are important to exam within the worldview of things. By examining the two books God’s word and the book of God’s works we can come to a better model of integration (Entwistle, 2010). The text talks about integration in a way that if you are too Christian you lose psychology and if you are to big into science you seem to lose the Christian principles behind it.Enemies, Spies, Colonialists, Neutral Parties, and Allies; are the 5 integration models. Enemies in short term believe that religion and psychology could never be integrated, spies there are two types of spies. Spies on the outside or spies on the inside. Spies on the outside want information only to link with their principles and spies on the inside try to be buddy Neutral parties are just that neutral to everything and say they don’t really care either way. Colonialists on the other hand seek to make psychology subservient to theology. Allies are those who are on your side.I think that science without religion is lame and conversely that religion without science is bli nd. Both are important and should work hand-in-hand. Albert Einstein (Entwistle, 2010). Concrete Responses The saying that got to me was when you come to a fork in the, road take it. It reminds me of the poem the Road Not Taken by Robert Frost. When I was a sophomore in college I was a mere 19 years old, I loved Kansas Wesleyan University but was still very miserable, seems kinda silly that I was so miserable yet loved the place all at the same time.I was newly married, my husband had just deployed shortly after I was stuck in a catch 22. My husband wasn’t in Califonia but I wanted to go and take a semester off the semester before to spend time with him. I should have but didn’t because my parents would of freaked in fact they did freakout which was why I came back in January to finish out the year instead of spending three months as newlyweds. Coming back in January was hard very hard I was very involved in everything on campus from Choir, student activities, and even RA.We sang Robert Frost’s poem the road not taken, it was dark and one of my favorites. The end of that year I left Kansas Wesleyan transferred to Fort Hays University and took the fork in the road. This was triggered because it was out of the normal. To my parents thye very much didn’t support my decision so it was wrong because it wasn’t theirs. This particular situation just makes me think that I have control over things but not all and even if they do not match my opinions and decisions I shouldn’t make a snap judgment as Jesus gave us all different forks or paths to take.We must jump at the opportunity he gives us to fly at the fork in the road. Reflection The thing that troubled me with this book was the author’s talk about limitations. While I believe he is correct we are very much a part of nature however I don’t believe God set limitations on humans. My theory within limitations is most of the time we humans limit ourselves. God wi ll meet us half way always has, we must do some of the work as well.God let’s us figure and find things within science on his time if not we wouldn’t know about space, molecules or anything about human nature and progress in sciences. Action The biggest thing I want to take from this book to put into my counseling is realize that not one way is affective on everybody. Some people will want to know you are praying for them and others will want you to pray with them right then and there. I want to put into practice that my client will get what they want and me as the counselor need to make it appoint to give the client exactly what they have asked for.I want people to feel great about themselves which is why I want to be a counselor in the first place. But the biggest thing I want people to realize is they as well as God have the reigns with their counseling so we will use this as a way to hopefully heal and mend their hearts and minds. References Entwistle, D. N. (2010) . Integrative approaches to psychology and christianity: An introduction to worldview issues, philosophical foundations, and models of integration  (2 nd ed. ). Eugene, OR: Wipf and Stock.

Marketing Plan Essay

Introduction Marketing plan plays a key role in business management. The essay would explain and cover what is a marketing plan, its role and nature, structure of marketing plan, the relationship between a marketing plan and a business plan, the uses of marketing plan, elements of marketing plan, the purpose of each element, the links between marketing plan elements and their independence, the misconception between marketing plans and the conclusion. The role and Nature of Marketing Plan The role of marketing plan is to clarify the key marketing element in a business and it plans the objectives, directions and activities of the business and employees. Marketing plan broadens the perspective which is outlined in a business plan. The role of marketing plan is to focus on four issues, i.e. promotion, price, product and the place. A marketing plan has its nature. It is a written document that states the key actions to achieve the marketing objectives. The marketing plan covers a period of one to five years. It can be part of the entire business plan. A Marketing plan which has no strategic foundation is not that effective. The importance of this is to specify the plan from the general objectives to single action plan of one marketing program (Fifield, 2007). The formal marketing plan is very critical as it provides an unambiguous reference point for the activities to be performed in the planning period. The benefit of these plans is in the planning activity itself. This process gives a unique opportunity and focused discussions between the persons involved. The marketing plan and the associated discussions then provides an agreed plan for the subsequent management activities including those not described in the plan itself. A classic marketing plan appears in the form of budgets. Since they are quantified, they are very essential (Ferrell, 2008). Therefore, they  represent the projection of actions and the expected results. The main role of marketing budgets is to put together all costs and revenues which were involved in marketing into a single comprehensive document. Marketing plan is used to monitor the performance in practice. A marketing plan should start with a brief summary of the recommendations and the main goals. This summary helps the senior management to get the major thrust. The table of contents then follows and it outlines the plan and the supporting rationale and operational detail follows the executive summary (Luther, 2011). Discussion of what is a marketing plan? What is the relationship between a marketing plan and a business plan? What are marketing plans used for? A marketing plan can be defined as a business document which is written with the aim of describing the market position of the business and its marketing strategy for a given time in the marketing plan. The marketing plan describes the advertising efforts for the coming years, and it includes a statement of the situation of marketing, the discussions of markets targeted, the position of the company and the description of plans which intend to be used to reach marketing goals (McDonald, 2007). The relationship between marketing plan and business plans Business plan are written so as to prove the value and feasibility of new ideas of the business. A business plan is drafted when opening a new business and the plan should be reviewed and adjusted especially when the operations have expanded or diversified. The business objectives and the strategy of value creation are included in the business plan (Jain, 2009). The business plan also provides a wide overview of the business like, operations, information of staff, marketing, location and financial aspects. Sometimes, business plan is used as a financial tool where it provides the lenders with the necessary information if the business is viable, financially stable and able to repay. Business plan does not only help in developing competitive strategies, but also it determines if the business activity matches the forecasted plans (Burrow, 2012). In marketing plans, it analyzes the potential customers of the products and explains what motivates them to buying. This enables the organization to fine tune their products or services to attract and keep customers. Then marketing plan also includes the nature of the competition, market size, potential price and the  potential strategies for reaching the customers. Market plan identifies price points, competition and target markets. It tries to explain how the organization attracts customers through trade show participation, advertisements and new referrals. It also explains how the business will overcome the competitive problems from other businesses (Pride, 2012). Uses of marketing plans The market plan can be very important when introducing a new product or service or even a line of new products. These plans should have details that will ensure the product would be successful in the market and to the intended customers. The company should write a market plan for each new services or products since each product needs a different approach to sell it (Jain, 2009). The market plans can also be drafted when a certain company has a plan to seek gestures from new market. For instance, a company in a particular state and planning to move into another state and compete with another market may need ways on how to market their services and products in the new location. Therefore, the market plan is written before the company is migrated (McDonald, 2007). Market plan is set to help the business set and achieve their goals. This plan includes information of the products offered in the company and how they will help the company achieve its goals. A market plan is also set to direct, establish, and coordinate a company’s sales. First the market plan defines the purpose of the specific plan, which is then followed by specific and clear directions of putting the plans in place (Ferrell, 2008). The other plan tries to explain and coordinate the methods for marketing task. Structure of Marketing Plan The structure of business plan can be designed in different ways. The plan can be a few thought scrawled on a bar napkin or it can be a high PowerPoint show. The most commonly used structure is the AOSTC format. This format stands for analysis, objective, tactics, and control. All these sections act differently in an organization (Fifield, 2007). Analysis- this section deals with the situation of the company at the time the plan is drafted. It is made of two subsections which are external audit and internal audit. The internal audit handles and talks more about the situation and what goes on in the company that affects marketing, like sales history, budgets and  structure. On the other hand, external audit focuses on the outside environment in response to its effect on the plan. The outside considerations include competition, opportunities industry news and events (Luther, 2001). The other is the strategies and Tactics- it is used to outline the ways of achieving the objectives one by one. The strategies deal with the big picture and tactics handles the details. For instance, increase internet presence is usually a strategy. Establishing a face book page or a web page presence would be tactics in that strategy (McDonald, 2007). For good strategies and tactic, they take in account both analysis and objectives sections of the plan. Control- this is how you measure progress in the achievement of the objective. This section is controlled by the timed and measurable nature of the set objectives. The control process is made up of key benchmarks, which set sub goals to rate the progress towards the objective. For instance, 12 percent sale increase in six months objective should be analyzed on monthly bases. If the progress states that the sales have increased by 2 percent in a month, which means the company is on the right track for goals accomplishment. Fall in sales means that the strategies and tactics should be reviewed (Ferrell, 2008). Elements of Marketing Plan The elements of a marketing plan are a rough guide of documents of plans to be done and why it should be done. For a market plan to be good it should contain the following: Defining what to achieve- goals should be set to provide an overarching statement on what to achieve. Some of the goals are: raising awareness of the school, increasing the products in the business and introducing new products or services in the business. One should also know there objectives. The objectives should be SMART i.e. specific, measurable, achievable, realistic, and timed (Luther, 2011). Situation analysis- this is a very good idea to analyze the current situation and the outlook in terms ways which will influence the strategies and plan. Then one should know the strategies to use. The strategies usually describe how the objectives are achieved. This plan should contain ways which tries to address elements addressed by the SWOT analysis (McDonald, 2007). Segmentation- at this section, one should underst and the segments and love what is been offered and why. If one doesn’t love it, then they are not ready to build and manage  a marketing plan and they should go back and find what to offer and a set of markets. In this section, one documents with much details from segments one is targeting. Who are the groups, their characteristics and on how to identify them (Luther, 2011). Competitive Alternatives- this is a drafted list of the alternative of the products the customers would consider from the ones been offered. This section helps one to articulate what differentiates the products one is offering from the others in the same field. They are usually micro and not detailed features (Jain, 2009). Differentiated points of value- for this section, you should ask yourself the top 3 or 4 differentiators which you are offering and it differs from the other. This should not be about the features or technology. It includes services like delivery options, pricing, ease of use, and time to value among others. Messaging and positioning is another which involves working on the previous segments. It creates a lot of messages for the sections. In this segment, you should create not more than 3 or 4 messages that cross your main points (Pride, 2012). Marketing goals and measures- this is about the goals one has for the marketing plan. This section is set for marketing goals in a period covered in the marketing plan. The objectives states were one need to be. For an objective to be effective, it must be specific and detailed. Many of the companies use the term SMART to define a well defined objective. This term in objectivity means smart, measurable, achievable, realistic and timed. One should also ask about the metrics they would use which are related with the drafted goals. For, instance one can decide that the increase of the customer by a certain percentage is the main goal. This acquisition can be tied by visiting product signups, blog signups emails, abandon rates and many others (Fifield , 2007). Tactical plan, owners, budget- this are the plans which are used to implement the strategies. The plans should be detailed sufficiently to allocate, budget, resource, and to monitor progress. They should have timeframes and also allocate responsibilities. In regard to the above goals and measures, this is where you set the marketing plans so that they can drive those results and the cost which are related to those tactics. This tactics are divided into discreet items of work and assigned to an owner. And lastly is the timeline which needs to be broken down into plotted on timeline and work items hence they can be tracked on a regular basis (McDonald, 2007). Links between  Marketing Plan Elements Clearly discussion of links and/or independence between marketing plan elements The marketing plans elements can be linked through its objectives and goals. The objective and goals of the marketing plan should be SWOT (Strengths, weakness, opportunities and threats). Strengths- when listing the marketing plan, you should list the main strengths of that company and products/services. This section should not only include the strong holds of your business or products but also its profit margins, similar strengths and the successful current marketing campaign. These strengths are only related to your business only because they are internal factors (Jain, 2009). Weaknesses- for this section, the weakness of the business and products/services should be listed. The plan includes the areas that you feel need improvement in the business or the challenges which are limiting the expansions of the business. Weakness is also internal factors and addresses your business only (Burrow, 2012). Opportunities- when drafting the business plan, you should list the best opportunities which you believe would change your business or a new business which you believe your business can succeed. One should always know that a weakness can be an opportunity. If the weakness in a business is fixed, quality is maintained and faster delivery to customers is achieved. The section of opportunities is always external but they rely on the internal strengths (Burrow, 2012). Threats- what is believed to be the threat to business should be listed. Some of them include the government regulations, competitors, and changes in customer attitude towards the products or services and others. Threats are from external but also they rely on internal weakness or external factors which limit your resource or strengths (Luther, 2011). Assumptions Discussion of common misconceptions relating to a marketing plan Most of the companies have misconceptions about marketing which hinder them from promoting their products and services incase of competitive market. Some of the misconceptions are as follows. â€Å"The company is too small and does not need a marking plan†- marketing plan is always the blueprint on how to market your business. Its main purpose is to outline your messages, target audience, tactics, channels, budgets and offers. Without this plan, one can confuse prospects with wasting money. Every business even the small ones need a plan so as to run effectively (Ferrell, 2008). â€Å"We know what the customers want†-your currents customers are the  best prospects and it’s very important to understand customers. What they think, why they like buying from you etc. Many marketers usually think that they know what the customer think but they might go wrong (McDonald, 2007). â€Å"We need to market only so that we can prospects, but not the customers†- as a marketer you should not assume a customer. Every customer needs to be reinforced regularly so as to continue buying from you and not the competitor. As you promote to prospects, remember to promote to customers (Pride, 2012). â€Å"Though we can’t afford, we would like to market†- many marketers make wrong assumptions about the cost of marketing especially advertising in the media. One should never rule out a certain channel because they think it’s expensive. You may find that channel you ignored you could have accessed affordably (Burrow, 2012). â€Å"We don’t have to be on the social medial†- whatever you sell, you can attract your customers. If you can’t market your products, your competitors are actively been engaged in the media (Jain, 2009). Conclusion Marketing plan plays a key role in business management. It is the core blueprint which states the company’s overall marketing efforts. Marketing plans usually draw inputs from the functions are team initiated. Marketing planning is usually a continuous process which responds to changing market conditions. Marketing plans analyzes the potential customers and products and explains what motivates them for buying. Then marketing plan also includes the nature of the competition, market size, potential price and the potential strategies for reaching the customers. This enables the organization to fine tune their products or services to attract and keep customers. Market plan identifies price points, competition and target markets. It tries to explain how the organization attracts customers through trade show participation, advertisements and new referrals. It also explains how the business will overcome the competitive problems from other businesses. References Ferrell, O. (2008). Marketing strategy. Mason, OH: Thomson South-Western. Fifield, P. (2007). Marketing strategy the difference between marketing and markets. Amsterdam McDonald, M. (2007). Marketing plans : how to prepare them, how to use them. Amsterdam Boston London: Elsevier/Butterworth-Heinemann. Luther, W. (2011). The marketing plan : how to prepare and implement it. New York: AMACOM. Jain, S. (2009). Marketing planning and strategy. Mason, Ohio: Cengage Learning. Pride, W. (2012). Marketing. Mason, Ohio: South-Western Cengage Learning. Burrow, J. (2012). Marketing. Mason, Ohio: South-Western Cengage Learning.

Changes of Technology into the Teaching Profession Essay

Changes of Technology into the Teaching Profession - Essay Example With this, it can categorically be said that the teaching profession has gone a long way to jive with the innovations in technology. In regard to the aforesaid facts, this paper aims to explore the salient changes of technology into the teaching profession. Moreover, the discussion and analysis shall be based on relevant references that showcase reputable research evidences, thereby exemplifying the intent of this paper. According to Crader and Bridgforth (1996), the benefits of technology into the teaching profession are generally positive. Such benefits were enlisted in the research conducted by the Office of Technology Assessment (OTA) and are quoted as follows: Furthermore, it was also figured that technology has made "a real difference" with the way educators implement their teaching methods and skills (Center for Technology in Education, qtd. in Crader and Bridgforth "Recent Research on the Effects of Technology"). This is evidenced by the integration of telecommunications into teaching, where telecommunication activities are being conducted with students, thus enabling teachers to spend more time with individual students and less time in making traditional lectures to the whole class, in so doing, it would allow students to carry out a more independent work (Honey, 1993, qtd. in Crader and Bridgforth "Recent Research on the Effects of Technology"). These changes signify the shift from the traditional direct approaches to a more student-centered approach in teaching (Crader and Bridgforth "Recent Research on the Effects of Technology"). Hence, technology is hailed as a driving force that geared towards improved teaching and learning (Sel din "Improving College Teaching"). On the other hand, for technology to be effective in the field of teaching, certain skills and tasks are required to ensure the appropriateness of its implementation, as well as successful adaptation to the changes brought about by the advent of technology. Thus, the following are the recommendations from the Office of Technology Assessment (OTA): Integrating and suiting technology into education/teaching goals and standards Having a vision for the use of technology to support curriculum Ensuring access to appropriate technology Providing training for the use of new technology Rendering sufficient administrative support for technology use Providing time for teachers to plan and learn how to integrate technology Providing for ongoing technical support for technology use (OTA, 1995, qtd. in Crader and Bridgforth "Recent Research on the Effects of Technology"). Additionally, a positive disposition, or attitude, towards the application of technology to teaching is a key prerequisite in order to develop the

Mergers Don't Always Lead to Culture Clashes Paper Essay

Mergers Don't Always Lead to Culture Clashes Paper - Essay Example People thought the two cultures would clash but it was successful. Q1. What ways were the cultures of BANK of America and NMBA incompatible? In the year 2005, Bank of America acquired MBA at a cost of 35 billion dollar (More, 2006). MBNA’s employers had accustomed their employees to high salaries packages. Their headquarters were an example of luxury at its best. They had private jets and yachts, and enjoyed a company golf course. They had adopted a formal mode of dressing and it was strictly suit and tie. Bank of America on the other hand, paid its employees’ salaries that were in line with the market figures. They had a casual approach towards their mode of dressing. They also preferred simplicity of premises in terms of the architecture. The differences between the cultures of the two companies were based on the social interactions. MBNA accuses its counterparts of being bureaucratic and BOA terms the MBNA directors as being arrogant. The companies approach to the co rporate image is the bottom line of the differences. Q2. Why do you think their cultures seem to mesh and rather than clash? The two companies were quite compatible. Their different approaches were put together and each adopted the other company’s culture. They both compromised on their stands. The two corporate cultures meshed due to the fact that their differences were only prevalent on the corporate image. The differences lay on issues that could be dealt with easily. The adjustment of the two companies to the new corporate culture did not need time or negative financial complications for the company. For example, the issue of salaries was handled by adopting the market figures; thus, the MBNA staff had to suffer from pay cuts. The golf course and private jets were disposed, but one private jet was retained. The issue of dressing was handled with adopting MBNA official setting for the public relation department. BOA’s casual approach was adopted for the other depart ments. Each company policies were evaluated and the best solution was used. Q3. Do you think culture is important to the success of a merger/acquisition? According to Deal and Kennedy (2008), dealing with the corporate culture when merging two companies is very important. It is essential due to the fact that it will determine the success of the new company. The corporate culture of a company contributes to the profitability of accompany to some extent. It is therefore, important to ensure that you incorporate both cultures and blend them in a way that the profit attributed to the two companies corporate culture will be retained. The accomplishment of the acquisition will depend on the way the two companies deal with the different corporate cultures. The other reason as to why it is important to ensure the success of merging is to achieve the best value of the new company. The deal value should not be eroded with the new merger. It is crucial that the new company’s corporate c ulture is not undermined or lacks consideration. The new employees should feel comfortable in the new working environment for the best results to be achieved. The new corporate culture should be accepted by the employees freely. Q4. How much of the smooth transition if any, do you think comes from both companies glossing over real differences in an effort to make the merger work? Both companies’ ability to compromise was the factor that contributed to the smooth acquisition of the two compan

Paper on Financial Monitoring and Control Essay

Paper on Financial Monitoring and Control - Essay Example According to Nikolai et al (2009), efficient monitoring and control of cash ensure that there is adequate cash to undertake important activities in organizations. Cash control systems need internal control measures that are adequate and effective, which must comply with laws and regulations of any given jurisdiction where the business or project is carried out. Kutz (2003) asserts that error and lack of control over organizations assets and cash lead to business or project failure. Components of financial monitoring and control system First, roles and responsibilities form part of the components of financial monitoring and control system. Every financial or accounting officer has a role to play regarding cash receipts and disbursement as well as towards financial records. Access to cash of the organization should be limited to few authorized personnel and duties performed by different accounting and finance officers should be separated. Cash should be controlled from the time it is r eceived from customers (at the point of sale) to the point it is deposited in the bank. Point of sales terminals or cash registers need to be used. This is because point of sales terminals and cash registers allow for monitoring cash inflow. Second, financial records are components of monitoring and controlling finances. All expenses and revenue (income) transactions are recorded in general ledger. General ledgers form the foundation for generating reports and financial statements of each project. Revenue, cost and managerial accounting are used for internal purposes for planning, monitoring and controlling organization’s monies. Financial records are evidences that financial transactions took place. Financial records assist project managers to determine how much they have spent, how much they have and how much they need to spent in future (Garman and Forgue, 2007). Gross et al (2005) asserts that well kept financial records enables managers and interested parties to review r esult of financial transactions. Cash shortages and excess will be easily identified and remedial measures taken to correct the situation when proper records are kept. List of all checks received must be recorded and forwarded to the appropriate department. Cashiers must prepare daily bank deposits. Records of all billings, payables, accruals, receivables, invoices, contracts and suppliers must be kept appropriately. Third, disbursements thresholds also form part of financial monitoring and control system. Procedures that allow payments of actual expenditures must be complied with accordingly. The organization must create ceilings above which payments shall only be made through checks. For example, an organization ensures that payments above $200 must be made using checks. Furthermore, large amounts of cash to be disbursed must be authorized and approved by people who are in higher positions. For example, any expenditure above $5,000 must only be approved and authorized by the proje ct director or managing director. The organization should properly utilize petty cash systems and payments should only be made upon verification of all supporting documents. Fourth, a budget forms a component of financial monitoring and control system. Budgets reflect financial goals and objectives of a project covering a specific period of time. During budgeting, technological trends, resource pricing, employee relations, raw materials cycles, inventory levels, financial needs and seasonality should be taken into considerations (Shim and Siegel 2008). Donovan (2005) explained that before a person or organization spend what they have earned, it is important to prepare budgets to be able to focus on priorities. Therefore, every

Analysis for Isle of Wight Food Show Essay Example | Topics and Well Written Essays - 1500 words

Analysis for Isle of Wight Food Show - Essay Example Wiley Events has been the leading event organising company in the IOW. Micro-environment 1.1 The Isle of Wight (IOW) Food Show The IOW has organised the food show for the 3rd time, generally taking place in the first weekend of May. The IOW food show is jointly organised by Isle of Wight Tourism, Isle of White Chamber of Commerce, the Island Traders’ Association and Wiley Events. It is a two-day event taking place from 1pm to 6 pm. Entry to the festival is free as per the Needles Park pay per attraction policy. Exhibitors are charged ?200 for the services rendered to them. Venue of the food show is Needles Park, Alum Bay in the North West of the island. Various stakeholders to the food show include accommodation providers, event organisers, transporters, visitor attractions, the local council and DMO. 1.2 Wiley Events Wiley Events has been the leader in the line of bespoke event management since 2001. Teddy Toddington and Pippa Powell, the partners of Wiley Events carry 20 yea rs experience in event organising. Both are experts in their own right and divide job functions as per their acumen in different event management functions. Wiley is also into advisory role of offering consultancy services to other companies particularly in the areas of sales, operations and administration. 1.3 Isle of Wight Tourism There are 21 specific touring sites, as identified by tourism data. Caravan sites also organise touring and camping, capturing 8% visitors of the event market. Summer is the peak season of tourism in the IOW when occupancy rate is 80%, which reduces to 37% in the spring and 19% in the autumn season. There are 60 worth-seeing sites, as per the Attractions Mini-guide 2005 and places of interest could be 200, as taken from the Tourism Baseline Audit 2003. Macro-environment 1.4 The Isle of Wight – Tourism destination – economy, social, cultural trends, physical environment, business environment Measuring 23 miles by 13 miles, the Isle of Wight boasts of near about 2.6 million visitors each year with an approximate tourism spend of ?352 million a year, tourism being 24% of the Island’s GDP and the first tourism destination to encourage quality and supervised stay facility; Once reaching to the Isle of Wright, one finds the transport infrastructure fully customised for visitors’ comfort. Cultural trends include such events as Taste Festivals, which are held at various places to celebrate local culinary talent. Business environment is very competitive with the Isle of Wight remaining on the top by getting awards for organising festivals, just to name the winning of music festival as the ‘Best Major Festival’ while the award for ‘Best Medium Size Festival’ was cornered for the third year consecutively. Business on the island depends on the initiatives of the stakeholders to use tourism as a tool to re-energise the economy. Success in leveraging this tool can be doubtful if only the trad itional niche area of the tourism portfolio is given attention by focussing just on summer holiday customers and coach and school group market. To reap the benefit, investment on facility and quality staff provision is mandatory otherwise actual contribution of tourism in the local economy would slow down. Negative outcomes can appear in traffic snarls to the displeasure of local people and affecting environment and standard of living. Businesses won’t be able to expand to raise the quality benchmark. Public sector can withdraw support if any of the symptoms

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Journal on Ch4 - Essay Example I tend to believe that the module of inquiry-based instruction also enables teachers to make the learning (of science mostly) easy, not only conveying it. It is because the learners are enabled to bear responsibility for their knowledge and understanding of what they study and construct. I strongly agree with the information provided in the chapter, that it is difficult to conduct the analysis of these studies. It is true that the variations in the terms used to define the instructional methods (BSC 2006). I don’t think other contemporary instructional techniques are superior to inquiry-based approaches unless they are evaluated wholly. The assessment of superiority among various instructional techniques should be based on the effectiveness of the variables involved and the level of interest the study mode invokes. The comparison should also involve the feelings of success and the level of excitement each instructional technique awakens. In also have the conviction that inquiry-based instruction technique can contribute significantly to the effectiveness of my teaching. It is for the simple fact that the technique engages both the teacher and the learners in the learning activity and to bear responsibility for making their knowledge and understanding (BSC 2006). Though the inquiry levels may vary, learners can prioritize evidence, compose explanations, evaluate their descriptions, and justify their proposed descriptions. As a teacher, the method is, therefore, helpful in facilitating my teaching

Staples - Goodwill Report Research Paper Example | Topics and Well Written Essays - 2000 words

Staples - Goodwill Report - Research Paper Example The company has its stores operating all around the world and delivering quality goods and services to the customers worldwide. It manages its goodwill and credible position through effective communication channels, proper employee management, valuing loyal customers and building a successful network of honest stakeholders for the organization. An effective management o the organizational plans and strategies, is what constitutes the goodwill. Besides this, being loyal and honest to the customers and maintaining a customer-centered attitude forms the basis of an advanced and organized goodwill plan. Thus, we can assume that the overall management and implementation of goodwill plan is the absolute need of an organization to operate successfully. This element has given rise to many success stories, such as that of Staples Incorporation. An elaborated goodwill plan of Staples is discussed ahead in this paper. Table of Contents Staples Incorporation 4 Communication 5 Customers 7 Employe es 7 Environment 8 Conclusion 9 Recommendation 10 Works Cited 11 Appendix 12 Appendix A 12 Appendix B 13 Appendix C 14 Illustrations Direct Competitor Comparison    SPLS PVT1 ODP OMX Industry Market Cap: 11.05B N/A 1.12B 626.71M 319.51M Employees: 52,919 N/A 40,000 30,000 2.75K Qtrly Rev Growth (yoy): 1.90% N/A -3.20% -2.80% 5.90% Revenue (ttm): 24.66B N/A 11.53B 7.10B 447.72M Gross Margin (ttm): 30.09% N/A 28.80% 25.63% 35.50% EBITDA (ttm): 2.09B N/A 235.86M 222.22M 26.40M Operating Margin (ttm): 6.47% N/A 0.25% 1.79% 4.32% Net Income (ttm): 891.42M N/A -116.36M 55.22M N/A EPS (ttm): 1.23 N/A -0.42 0.63 0.15 P/E (ttm): 12.59 N/A N/A 11.55 18.87 PEG (5 yr expected): 0.77 N/A -7.84 1.30 0.98 P/S (ttm): 0.44 N/A 0.10 0.09 0.75 Pvt1 = Lyreco Group (privately held) ODP = Office Depot, Inc. OMX = OfficeMax Incorporated Industry = Specialty Retail, Other Business organizations are operating in a very tough corporate environment these days. They are struggling hard to maintain their comp etitiveness along with being resilient, flexible and rulers at the same time. For this purpose, it becomes necessary for them to keep up their goodwill and take care of the performance and reputation in the market among tough rivals and cutting edge competition. Staples Incorporation Not every company is a success story. There are many organizations, both large and small scale, which are working in the rigid business environment. Similarly, staples is one such company which is attempting to pave its way through managing in building goodwill amongst the other market leader. The Staples Incorporation is one of the larger office supply chain store, which has more than 2,000 operational stores which are working in around 26 countries. The store has its main foundation in United States, Framingham, Massachusetts, and has its large network of retail stores operating all across the world. The retail outlets of Staples are all also involved in the business dealings and transactions with sev eral firms in numerous European countries and this is commonly referred to as the Staple Advantage (Bloom Energy, Online). The organization has built up its reputation in the market of furniture, supplies, promotional products, office machines, technology and other services to various businesses in both, physical stores and

“The Origin of Species” Response Essay Example for Free

â€Å"The Origin of Species† Response Essay In â€Å"The Origin of Species†, Charles Darwin painstakingly explores the different character traits exhibited among species. He looks at natural selection as a way of explaining extinction and adaptation and tries to prove evolution as the main theory of human origin. He states, â€Å"this whole volume is one long argument† (362), and that is exactly what this book is. There are no definite answers provided to the question of the origin of existence, but instead, many unanswered questions are posed and explored. Darwin argues on the issue of variance, stressing that it is most likely that any single species may derive from one common ancestor. He goes on to state that although not everything is known or can be proven about origin in ‘modern’ times because of ignorance about current climatic effects on our universe, it is most likely that the Earth itself affects certain groups of descendants of a certain species, making them extinct, while other migrated groups continue to thrive. In other words, species who remain in one area are bound to become extinct due to environmental factors, while those who migrate, or move from their homeland may have a better chance of survival. In doing so, roots become harder to trace, and changes in the species are inevitable due to their new surroundings. Darwin also believes that the world has had more groups of species than we will ever be able to uncover in our lifetime, so we will never truly know all that walked or lived on the Earth. I am personally fascinated with Darwin’s theories, experiments, and unanswered questions. It is intriguing how Darwin questions and test life and the origin of life. Many times in my own life I have wondered about the origin of life and questioned the religious answer versus the scientific answer. It was courageous and bold of Darwin to explore this issue the way that he did, especially since he came up with no true answers, merely a very educated and studied argument with sections of admitted ignorance on certain subtopics. The language is highly technical and â€Å"stiff†, so it does not make for a very fun read, but once the reader gets used to the content, it becomes easier. I agree with the concept that ‘only the strong survive’ and believe that natural selection is inevitable or the world would be uninhabitable. I disagree with Darwin’s explanations of complex questions, stating things such as, â€Å"I can answer these questions and grave objections only on the supposition that the geological record is far more imperfect than most geologists believe† (365). This weakens his argument, but still allows room for possible validity in his argument. However, it is noble that Darwin stuck to his theory and defended it, despite his lack of ability to actually prove it, â€Å"Grave as these several difficulties are, in my judgement they do not overthrow the theory of descent with modification† (367). From reading The Origin of Species, I learned how complex science can be. I learned that theories need to be tested and explored, and sometimes even if they fail, the original hypothesis remains unchanged. I learned that one must acknowledge the weaknesses in one’s own argument in order to make it stronger or more valid and I also learned that sometimes in life, there are no answers; some of life’s questions will always remain unanswered. Works Cited Darwin, Charles. The Origin of Species. Spark Publishing: New York. 2003.

The Significance of Mergers and Acquisition in India

The Significance of Mergers and Acquisition in India The term mergers and acquisition refers to the facet of corporate finance, strategy and management dealing with buying and selling or amalgamating different companies that can help in financial aid or help in increasing the market share and growth without creating another business entity. Important terms used in the world of mergers acquisition, their brief explanation: Merger: is defined as the combination of two or more companies into a single company where one survives and the other loses its corporate existence. The survivor acquires the assets as well as liabilities of the merged company or companies. Amalgamation: Halsburys Laws of England describe amalgamation as a blending of two or more existing undertakings onto one undertaking, the shareholders of each blending company becoming substantially the share holders in the company which is to carry on the blended undertaking. Section 2 (a) of Income Tax Act defines: Amalgamation in relation to companies means the merger of two or more companies to form one company in such a manner that: All the properties of the amalgamating company or companies just before the amalgamated company by virtue of amalgamation become the properties of amalgamation. All the liabilities of the amalgamating company or companies just before the amalgamation become the liabilities of the amalgamation; become the liabilities of the amalgamated company by virtue of amalgamation. Shareholders holding not less than three-fourth in value of shares in the amalgamating company or companies becomes the shareholders of the amalgamated company by virtue of amalgamation. Consolidation: is the fusion of two existing companies into a new company in which both the existing companies extinguish. The small difference between consolidation and merger is that in merger one of the two or more merging companies retains its identity while in consolidation all the consolidating companies extinguish and an entirely new company is born. Acquisitions/Takeovers: This refers to purchase of majority stake (controlling interest) in the share capital of an existing company by another company. It may be noted that in the case of takeover although there is change in management, both the companies retain their separate legal identity. Leveraged Buyouts: It means any takeover which is routed through a high degree of borrowings. In simple words a takeover with the help of debt. Management Buyouts: It refers to the purchase of the corporation part or whole of shareholding of the controlling / dominant group of shareholders by the existing mangers of the company. Sell Off: General Term for divestiture of part or whole of the firm by any one or number of means: i.e. sale, spin off, split up etc. Spin Off: A transaction in which a company distributes all the shares it owns in a subsidiary to its own shareholders on pro-rata basis then creates a new company with the same proportional shareholding pattern as in the parent company. Split Off: A transaction in which some, but not all, shareholders of the parent company receive shares in a subsidiary, for relinquishing their parent company shares. Split Up: A transaction in which a company spins off, all of its subsidiaries to it shareholders and ceases to exist. Equity Carve Out: A transaction in which a parent company offers some common stock of one of its subsidiaries to the general public, so as to bring in a cash infusion to the parent company without losing the control. TYPES OF MERGERS AND ACQUISITIONS Mergers can be classified into three categories: On the basis of movement in the industries Horizontal Mergers These involves merger of two firms operating and competing in the same line of business activity. It is performed with a view to form a larger firm, which may have economies of scale in production by eliminating duplication of competitions, increase in market segments and exercise of better control over the market. It also helps firms in industries like pharmaceuticals, automobiles where huge amount is spent on RD to achieve a critical mass and reduce unit development costs. Example: India cements acquiring Raasi Cement. Vertical Mergers These take place between two or more firms engaged in different stages of production. The main reason for vertical merger is to ensure ready take off of the materials, gain control over scarce raw materials, gain control over product specifications, increase in profitability by eliminating the margins of the previous supplier/ distributor and in some cases to avoid sales tax. Example: Tea Estate Ltd merging with Brooke Bond Ltd. Conglomerate Mergers Conglomerate merger refers to the merger of two or more firms engaged in unrelated line of business activity. Example: GNFC acquiring Gujarat Scooters. Two important characteristics of conglomerate mergers are: A conglomerate firm controls a range of activities in various industries that require different skills in the specific managerial functions of research, applied engineering, production and marketing. The diversification is achieved mainly by external acquisitions and mergers and not by internal development. Consolidation Mergers This involves a merger of a subsidiary company with parent company. The reasons behind such mergers are to stabilize cash flows and to make funds available for the subsidiary. In consolidation mergers, economic gains are not readily apparent as merging firms are under the same management. Still, Flow of funds between parent and the subsidiary is obstructed by other consideration of laws such as taxation laws, Companies Act etc. Therefore, consolidation can make it easier for to infuse funds for revival of subsidiaries. One the basis of method or approach Leveraged buyouts Management buyouts Takeover by workers On the basis of response/relation Friendly Takeovers Hostile Takeovers Acquisition is buying of Target Company by another. It may be friendly or aggressive. In friendly acquisitions the companies cooperate and negotiate with each other whereas in aggressive the target company is not willing to be sold but it is with no prior knowledge. The word acquisition is used when a large company overtakes small but when the small overtakes large it is called reverse takeover or merger. MERGER MOTIVES The merger motives are as follows: Growth Advantage / Combination Benefits: The companies would always like to grow and best way to grow without much loss of time and resources is too inorganically by acquisition and mergers. Example: Merger of SCICI with ICICI ITC Classic with ICICI Acquisition of Raasi cement by India cement Dharani Cement and Digvijay cement by Grasim Modi cement by Gujarat Ambuja. Diversification: The companies could diversify into different product lines by acquiring companies with diverse products. The purpose is to diversify business risk by avoiding putting all eggs into one basket. Example: All Multi-product companies Synergy: When the companies combine their operations and realize results greater in value than mere additions of their assets, the synergy is said to have been resulted. Example: Merger of Ranbaxy and Crossland Laboratories. Market Dominance / Market Share/ Beat Competition: The predominant market share or market dominance has always driven the executives to look for acquiring competitive companies and create a huge market empire. Example: Acquisition of Tomco by Hindustan Lever Computer Associates International Acquired around twenty software companies. Consolidation in cement industry Nicholas Piramal Ltd. has merged into itself. Technological Considerations: It refers to enhancing production capacities to derive economies of scale. Example: Acquisition of Corus by Tata. Taxation Benefits / Revival Of Sick Units: Section 72 A provides for revival of sick units by allowing accumulated losses of the sick unit to be absorbed by the healthy units subject to compliances to the conditions of the provisions. Acquiring Platform: When a company would like to expand beyond geographical limits and acquire platform in the new place the best way would be to acquire the companies. Example: Acquisition of Parle by Coke. METHODOLOGY ANALYSIS Objective: To inspect and analyze the trends and progress of MA in Indian market and corporation. To analyze year-wise trends with the variance. Hypotheses: With the above objective in mind certain hypotheses are: No major difference in the amount and number of deals in MA between the industries and between the years No major changes between service and manufacturing sector in MA growth The table 1 shows the trends of MAs in India from the year 2000 to 2007. Food Beverages India is the second largest producer of food Beverages, first being China. The food market is expected to be USD 182 billion and it is two thirds of the total retail market in India. The carbonated drinks market is worth USD 1.5 billion whereas the market for juice is worth USD 0.25 billion. The market for fruit drinks is growing at 25%. The major reasons for MA concept commenced in this industry are deregulation, restructuring of parent companies, disinvestments and existing foreign players. Textile Industry The Indian textile industry was unorganized until liberalization of economy of India. After that there was an astounding growth in this industry and it is one of the largest in the world. 27% of foreign exchange is from textile exports. This industry is 3% of GDP and it involves 21% of the total employment in the country. The major reasons for growth of MA are the growth of handlooms, closure of mills etc. Chemicals, Drugs and Pharmaceuticals This sector accounts for 70% of the demands for drugs, formulations, tablets, chemicals etc. There are almost 250 large and 8000 small manufacturers and suppliers in Pharma sector. The growth rate of this industry is almost 14%. The reason for the growth of MA in this sector is due to the fundamental changes in this sector and the emergence of WTO Non-Metallic Mineral Products The major reasons for the growth of MA in this sector are mainly because the Indian economy has slowed down, SME are finding difficult to raise the funds and are not able to handle the pressure from global market. Information Technology and Telecom The factors for the growth of MA are up-gradation and expansion of the telecom industry, services and networks. Automobiles and Ancillaries Globalization is approaching and pushing foreign players merge and upgrade the technology and infrastructure, increase the product range and cut costs. Also there is huge competitive pressure due to the existing foreign players leading to growth in MA. The pie chart (Figure 2) gives the sector-wise division in 2007 Figure 2: Sector-wise division Analysis of MA in manufacturing and service sectors Table1 shows the Trends and progress in terms of number of deals and Table 2 in terms of value of deals. Table1: Industry-wise Trends Growth of MAs in India (Number of deals) Table2: Progress and Trends in MA in number of deals (as calculated from Table1) Table 3: Industry-wise Trends Growth of MAs in India (in Rs. Cr.) Table 4: Progress and Trends in MA in value of deals (as calculated form Table 2) Number of Deals Value of deals: The progress and trends of MA considered in number and value of deals in manufacturing and services sectors have been calculated by using t-test and ANOVA analysis. On the basis of Table 2 and Table 4 the number of deals in service sector is lower in the first 4 years but reverses in the last 3 years. So there is no major association between these two sectors Table5: Two-way ANOVA- Sector-wise Number of Deals (as calculated from Table 1) Table6: Two-way ANOVA-Sector-wise Value of Deals (as calculated from Table 3) ANALYSIS OF THE SURVEY DATA RESEARCH AND FINDINGS From the calculations done above, it is observed that the number of deals has decreased from 1300 to 1007 i.e. almost 18%. There can be various reasons for this decrease, some are as follows: The slowdown of the economy With no prior knowledge management makes a choice of MA leading to decrease in profits Economic crisis in the period of 2004-2007 Dropping market capitalizations and uncertainty in the economy From the above analysis it is concluded that: Total amount of deals increased by 613% In manufacturing sector the value of deals increased by 273% whereas it increased by 1217% in service sector Total number of deals decreased by 18.5% i.e. from 1322 to 1075 In manufacturing sector the number of deals decreased by 844 to 440 i.e. 47.2% decrease whereas in service sector deals increased from 480 to 636 i.e. 33% increase. THEORIES OF MERGER The phenomenon of merger and acquisitions has been explained by different theories as under: Efficiency Theories Differential Efficiency: If the management of firm A is more efficient than the management of firm B and if after firm A acquires firm B, the efficiency of firm B is brought up to the level of efficiency of firm A, efficiency is increased by merger. Features: There would be social gain as well as private gain. This may also be called managerial synergy hypothesis. Limitations: If carried to its logical extreme, it would result in only one firm in the economy, the firm with greatest managerial efficiency. Inefficient / underperforming firms could improve performance by employing additional managerial input through direct employment / contracting. Inefficient Management: Inefficient Management refers to non performance up to its potential level. It may be managed by another group more efficiently. Features: Inefficient Management represents management which is inept in absolute sense. Differential management theory is more likely to be basis for horizontal merger; inefficient management theory could be basis for mergers between firms of unrelated business. Limitations: Difficult to differentiate differential management theory from inefficient theory. The theory suggests replacement of inefficient management. However empirical evidence does not support this. Operating Synergy: Operating synergy or operating economies may be achieved in horizontal, vertical and even conglomerate mergers. Features: Theory is based on the assumption that economies of scale do exist in this industry and prior to merger, firms are operating at the levels of activity that fall short of achieving the potential for economies of scale. Economies of scale arise because of indivisibilities such as people, equipment overhead which provide increasing returns if spread over a large number of units of output. Pure Diversification: Diversification of the firm can provide the managers and employees with job security and opportunity for promotion and other things being equal, results in lower costs. Even for owner manager diversification is valuable as risk premium for undiversified firm is higher. Diversification has value for many reasons: Demand for diversification by managers, other employees Preservation of organizational and reputation capital Financial and tax advantages Diversification helps preserving reputational capital of the firm, which will be lost if firm is liquidated. Strategic Realignment to Changing Environment: Strategic planning is concerned with firms environment and constituencies, not just operating decisions. The speed of adjustment through merger would be quicker than internal development. Features: Strategic planning approach to mergers implies either the possibilities of economies of scale or tapping an underused capacity in the firms present managerial capabilities. By external diversification the firm acquires management skills for augmentation of its present capabilities. A competitive market for acquisitions implies that the net present value from merger and acquisition investment is likely to be small. Nonetheless if synergy can be used as a base for still additional investments with positive net present values, the strategy may succeed. Agency problems Agency problem arises when a manager owns a fraction of ownership shares of the firm. This partial ownership may cause managers to work less vigorously than other wise and / or consume more perquisites, (luxurious offices, company cars, membership of clubs) because majority owners bear most of the cost. Agency costs include: Cost of structuring a set of contracts Cost of monitoring and controlling the behavior of agents by principals. Cost of bonding to guarantee that agents will make optimal decisions or principles will be compensated for consequences of sub-optimal decisions. Residual loss: i.e. welfare loss experienced, by the principals arising from the divergence between agents decisions and decisions to maximize principals warfare. This residual loss can arise because the cost of full enforcement of contracts exceeds the benefits. Takeover as solution to Agency Problems: Agency problems can be controlled by organizational or market mechanism: A number of compensation arrangements and market for managers may mitigate agency problems. Stock market gives rise to external monitoring device, because stock prices summaries the implications of decisions made by managers. Low stock prices exert pressure on managers to change their behavior and to stay in line with interest of shareholders. When these mechanisms are not sufficient, market for takeover provides an external control device of last resort. A takeover through a tender offer or proxy fight enables outside managers to gain control of decision process of Target Company, while circumventing the existing managers and Board of Directors. Free Cash flow hypothesis Pay out of free cash flow can play an important role in dealing with conflict between managers and shareholders. Payout of free cash flow reduces the amount under control of managers and reduces their power. Further they are subject to monitoring in capital market when they seek to finance additional investment with new capital. A free cash flow must be paid out to shareholders if firm is to be efficient and to maximize share price. Further they are subject to monitoring in capital market when they seek to finance additional investment with new capital. Managers arrange cash flows also by issuing debts / leveraging. In leveraged buyouts, increased debt increases risk of bankruptcy cost in addition and agency costs. Optimum debt / Equity Ratio will be where the marginal cost of debt equals marginal benefit of debt. Market Power Mergers increase a firms market share. It is argued that larger volume of operations through Mergers and Acquisitions result in economies of scale. But it is not clear whether this price required by the selling firm will really make acquisition route more economical method of expanding a firms capacity either horizontally or vertically. An objection often raised against permitting a firm to increase its market share by merger is that it will result into undue concentration in the industry. Value increase by Redistribution Value increases under merger on account of redistribution among the stake holders of the firm. Shifts are from the Bond holders to stock holders and from labor to stock holders and / or consumers. DE-MERGER AND REVERSE MERGER DE-MERGER De-merger essentially means bonafide separation of the key business assets and reorganizing the business in such a manner that though there is separation in favor of another company, atleast 50% of the equity stake in two companies continues to be common. Section 2 (19AA) was introduced by Finance Act of 1999 defining De-Merger Examples: Sterlite Industries and Sterlite Optical Sterlite which was a diversified company with presence both in non-ferrous metal as well as Telecom cables decided to de-merge both the business into separate companies. The spin off was done in the ratio of 1:1. Raymonds Ltd: Raymonds sold of Cement and Steel business to become one again, a purely fabric and garment company. The whole exercise fetched Raymonds Rs. 1140 crores. This enabled it to reduce high cost debts as well as buyback its own shares. Thus financially as well as in terms of shareholder value it was a correct step. REVERSE MERGER Reverse merger takes place when a healthy company merges into a financially weak company. Under the Companies Act there is no difference between regular merger and reverse merger. It is like any other amalgamation. On Amalgamation merger automatically makes the transferee company entitled to the benefits of carry forward and set off of loss and unabsorbed depreciation of the transferor company. There is no need to comply with Section 72 of Income Tax Act. On amalgamation being effective, the weak companys name may be changed into that of a healthy company. Example: Case Study- Kirloskar Oil Engines merging into Prashant Khosla Pneumatics Ltd In April, 1994, Kirloskar Oil Engines Ltd. (KOEL) took over the management control of Prashant Khosla Pneumatics Ltd. (PKPL) a Delhi Based Company having its works at Nasik. PKPL became a sick unit as on 31st March, 1994 and went into BIFR in June 1994. ICICI was appointed as Operating Agency who invited bids for PKPL for revival. KOEL made a bid although PKPL was already under its control. KOELs bid was accepted and confirmed by BIFR. Main objective in the takeover was to make use of PKPLs engine plant for KOELs large engine activity. PKPL take over added to KOELs assets, two plants located at MIDC, Nasik on MIDC leased land of 80,000 sq. mtrs. A scheme for revival of PKPL through reverse merger of KOEL with PKPL was submitted to BIFR and was sanctioned in February 1996. Accordingly, KOEL merged in PKPL, and name of PKPL stood changed KOEL on 1st March, 1996 which was the effective date of amalgamation. Again of merged company for 1994-95 was held in April 1996 and consolidated accounts for the year ended 31st March, 1995 were adopted. Delay of 7 months for holding AGM was condoned by BIFR. This merger did not affect in any way KOEL shareholders. PKPL capital of Rs. 218 lakhs was reduced by 95% to 11 lakhs and KOEL shares were exchanged for PKPL shares in the merged company in the ratio of 1 for 20. PKPL shareholders were paid 5% dividend for 1994-95 and full dividend for 1995-96. 56% of PKPLs capital held by its holding company was transferred at agreed price of Rs. 75 lakhs to KOEL associate company which subsequently got shares in the merged company. The scheme provided for certain matters without going through the formalities under companys Act, under powers of BIFR such as Change of name of Transferee Company from PKPL to KOEL. Memorandum of association (MOA), articles of association (AOA) of Transferor Company becomes MOA and AOA of Transferee Company. Auditors of Transferee Company to automatically cease to hold office and auditors of the transferor company to become auditors of the transferee company. MD and ED of Transferor Company to continue as such in Transferee Company without reappointment and without break. Authorized capital of Transferee Company to stand increased from Rs. 5 crores to Rs. 27 crores. Transferee Company to allot to shareholders of Transferor Company, shares in Transferee Company. Share certificates of Transferor Company not to be called back and replaced by new certificates. ICICI to be issued 4,75,000 equity shares in transferee company without complying with Section 81 (1A) and SEBI guidelines on preferential issue. Stamp duty on transfer of property and share certificates was saved. Premium payable to MIDC saved only loans for fee paid. PKPL revival resulted into both the plants being operative- Direct employment to more than 300 people working. POST MERGER SCENARIO Key steps to successful Post Acquisition Management (Figure 3) Figure 3: Steps for Successful Acquisition Success constitutes two important factors: Meeting the objectives Enhanced shareholder value Short lived mergers: Some Examples Merger of ICICI and Anagram: When employees of Anagram Finance heard that ailing firm was to be merged with ICICI there was a sigh of relief. But two months later, reality was bitter. Out of 450 staff only 140 were repaired and all others were given pink slips with 3 months severance pay. Takeover of Merind by Wockhardt: There was exodus of top management team of Merind. CIBA and Sandoz merged to form Novartis: 115 out of 120 managers of new corporate office were Sandoz people with Sandoz Indias erstwhile MD John Simon ailing the shareholders. POST MERGER INTEGRATION SEVEN RULES BY MAX HABECK- FRITZ MICHAEL TRAM Vision Guide post merger Integration with a clear and realistic vision derived from through business due diligence. Research Findings: 78% of mergers are mistakenly driven by fit, and not vision. Around 58% of mergers fail. Examples: M A Cases That Have Failed On Account Of Lack of Vision or Unrealistic Vision AT T and NCR: In the late 1980s American Telephone and Telegraph still had assets such as Bell Labs to go with long distance telephone services it kept after the 1984 anti-trust break up. The company had a grand vision of a technological synergy between its expertise in telecommunications and NCRs expertise in computer technology. After years of intense searching, hampered by management changes as well as cultural frictions, no synergies were found. The presumed fit between telecommunication equipment and computer hardware failed to turn up. AT T spun off the remains of NCR around five years later at a loss of around $ 3.5 billion, nearly half of what it initially paid. Sony Pictures: Sony acquired Columbia Pictures in 1989 for $ 5 billion. However, Columbia had difficulties in generating the successful software to begin with. Rapidly rising salaries of stars and lack of success at box office culminated in Sony making operating loss of around $ 500 million. The company wrote off $ 2.7 billion. The losses were attributed to abandonment of large number of projects and settlement of outstanding lawsuits. However, instead of divesting the unit, Sony made management changes and imposed stricter controls. Columbia is now a part of Sony Pictures Entertainment, which represented just fewer than 10% of Sony Groups Worldwide Sales of around $ 50 billion. Examples of Successful cases of M A driven by Vision: Acquisition of Salomon Inc. by Citigroup Ford Motor Acquisition of AB Volvo. Leadership- Its Critical Establish It Quickly Research Findings: Leaderships urgency is often neglected. Some 39% of all companies faced a leadership vacuum because they failed to make the establishment of leadership a priority. A merger without strong leadership in place from its early days will drift quickly and drift is deadly. Growth- Merge to Grow, Focus On added Value not on Efficiency Synergies Research Findings: 76% of the companies surveyed focused too heavily on efficiency synergies. 30% of the companies virtually ignored attractive growth opportunities such as cross selling possibilities or knowledge sharing in research and development. Most Successful Growth through Mergers: Cisco Systems: This fortune 500 company has grown since its founding in 1984, thanks to a combination of organic growth and successful integration of 25 acquisitions. Cisco has almost quadrupled its revenue since 1995 to $ 8.5 billion and its net income tripled to $ 1.3 billion. It holds a market share of around 80% routers and switches which form the internet infra structure. Making mergers is and will continue to be absolutely essential for Cisco to maintain its rapid growth and enhance its competitive advantages. CONCLUSION The practice of Mergers and Acquisitions and restructuring of business entities has achieved a lot of importance and significance in todays corporate world. Due to the cut-throat competition in the global market pushed Indian companies to opt for this strategic option in order to sustain in the marketplace. There are various factors for making MA deals constructive in India such as Government policies are dynamic, stability in the economy, ready-to-experiment approach of the firms etc. Some additional and recent facts about MA: The value of MA is increasing every year in India; it almost increased seven fold to USD 4.2 billion in August 2010 from USD 629 billion in 2009 The number of deals (outbound) increased to USD 3.35 billion in 2010 from USD 60 million The number of domestic deals increased from 20 to 27 but the value of deals decreased from USD 521 million to USD 364 million in2010. From the study it is observed that companies get involved in MAs to increase the shareholders earnings by increasing the revenue or decreasing the cost. It also increases the market share provided if management is careful about the MA and has a prior knowledge of it. Synergy should be achieved with MA but at times it does not happens so the companies need to work to control the synergy and allow new company to go ahead and look for new business growth possibilities.

Attitudes Toward Sex Education Essay -- Sociology Sexual Education

Sex is huge, sex is important; everyone cares and has something to say about sex. Sex sells. Sex is an immense part of life for almost everyone in the nation and the world, including youth. Teens hear about sex from their friends, from the shows they watch on television, from the music they listen to, and sometimes, once in a while, they hear about it as discussed by their parents and teachers in an educational context. In a Center For Disease Control (CDC) report from the year 2000, about 65% of 19 year-old teens were currently sexually active, with another 20% unsure if they would chose to be active or not in the near future, and only the remaining 15% choosing to be abstinent from sex at this age. Obviously the majority of teens are engaging in some nature of sexual activity at a relatively early age, and therefore it is important that they learn about the consequences associated with sex and about safe sexual practices, like using protection and being informed about sexual transmitted diseases and teen pregnancy. It was reported by the Alan Guttmacher Institute that approximately 4 in 10 young women in the U.S. become pregnant at least once before turning 20 years old. It was also reported that in the U.S., one in four sexually active teens become infected with an STD every year. With alarming statistics such as these, it is a given that these teens must be well informed before making a decision that could very well alter their lives. The overwhelming majority of parents and other adults surveyed believe that some form of sex education should be taught in schools today. When asked "Would you be for or against sex education in the public schools?" in 2004 by the General Social Survey (GSS) over 90% o... ...rds to the research question. Overall however, I believe this was a good start to performing a study on this interesting and important topic. Sources Boseley, Sarah. Europeans reject abstinence message in split with US on Aids. The Guardian. December 1, 2005. Colby, Edward B. Schooled. Columbia Journalism Review. September 1, 2005, Vol. 44 Issue 3. Feldman, Sally. Why I'm Glad My Daughter Had Underage Sex. Humanist. Nov/Dec 2004, Vol. 64 Issue 6. Jayson, Sharon. Teens Define Sex in New Ways. USA TODAY. October 19, 2005. Ubell, E. Sex-education programs that work-and some that don't. Parade Magazine. February 12, 1995. Walter, HJ & Vaugh RD. AIDS risk reduction among a multi-ethnic sample of urban high school students. Journal of the American Medical Association. 1993. New England Primer Website http://neprimer.com NPR website www.npr.org

We Must Eliminate Animal Testing for Cosmetics Essay -- Argumentative

We Must Eliminate Animal Testing for Cosmetics       Jane goes to work everyday at an animal-testing lab. She pours liquids used in eyeliner into the eyes of numerous albino rabbits. The rabbits' eyes are held open with clips so that for the 72 hour test period, the rabbits can't even blink. The rabbits' bodies are in a box so that only their head protrudes. Jane watches the rabbits and records how the rabbits’ eyes react. She observes as the rabbits’ eyes bleed intensely. Some eyes become extremely deteriorated, and some rabbits even become blind due to the toxicity of the liquid being tested. As she walks down the line writing down what each rabbit's reaction is, Jane notices many rabbits have broken their own necks trying to escape the horrendous pain ("Product..."). Animal testing has long played a part in the science of testing, and it still plays a very important role in the medical world. Testing on animals in order to create a cure for AIDS is one thing, but testing on animals for human vanity is another. Animal testing is used to test the safety of a product. It has kept some very unsafe substances out of the cosmetic world. However, in this day in age, animal testing is not the only way to test the safety of a product. Animal testing in cosmetics has decreased over the years. However, it is still used by many companies in America. Animal testing is not only cruel, but it is also unnecessary in today’s advanced scientific world. There are over a thousand ingredients that are used in cosmetics that are already proven to be safe for human use. These ingredients can be mixed and matched creating new and unique products. Many people argue that this is not suitable for the demanding market. The craving for "new" and "im... ...at.htm>.    "Does FDA Require Animal Testing." Center for Food Safety & Applied Nutrition. 3 May 1999. 5 Dec. 2002. <http://vm.cfsan.fda.gov/~dms/qa-cos4.html>. Hunter, Breatrice Trum. "New Alternatives in Safety Testing." Consumers’ Research Magazine. May 2000: p26+    "Our Values-the Issue." The Body Shop. 2002. 5 Dec. 2002. <http://www.thebodyshop.com.au/ourvalues.cfm?valueID=1>. Palazzolo, Rose. "The Fur and the Fury." ABCNEWS.com. 12 Apr. 200. 5 Dec. 2002. <http://abcnews.go.com/sections/living/DailyNews/ cosmetictesting0000412.html>.    "Product Testing: Toxic & Tragic". Peta. Dec. 8 2002. <http://www.peta.org/mc/facts/fsae4.html>.    "What are some common alternatives to the use of animals in medical and aesthetic product testing?" Voice for the Voiceless. 2001. Dec 9 2002. <http://members.shaw.ca/voiceforthevoiceless/ani_test.htm>.

A critical essay based on three scenes Essay

Consider the importance of these scenes in the play as a whole. You should write about:   Dramatic effect   The language of the scenes Presentation of character   Changes in mood and tone Key themes within Romeo and Juliet are conveyed to the audience within the prologue. These themes help the audience to understand the first meeting between Romeo and Juliet and also their later meetings. Within the prologue, it is written by Shakespeare that from these two families, Romeo and Juliet are destined to fall in love; it also conveys the hatred of both families: † From forth the fatal loins of these two foes A pair of star-cross’d lovers take their life†. The audience has already been told that they are destined to fall in love, it is written in the stars and also are destined to take their own lives. The first impression that helps the reader to understand Romeo is that he is in love with a girl called Rosaline, however Romeo has been rejected. Consequently, Romeo feels very lonely and isolated, and he has also become depressed. This prepares the audience for his meeting with Juliet. Juliet does not come into the story until Act 1 Scene 2, where Capulet, her father, and Paris who wishes to marry Juliet are discussing her. The first impression of Juliet that the audience understands is that she is a very dutiful daughter to the Capulet family. Juliet has also become very obedient. The adults control her in her life, all of her decisions are made for her and she is protected form the outside world. These impressions tell the reader that both Romeo and Juliet are very vulnerable. Juliet has never loved anyone whereas Romeo has been depressed from falling out of love. These all lead up to Act 1 scene 5 where Romeo and Juliet meet. Romeo and Juliet are destined to meet because the servant cannot read and asks Romeo for help. Benvolio persuades Romeo to go so that he can see other woman, however destiny has facilitated Romeo and Juliet’s meeting. Act 1 scene 5 is the first scene is the first scene where Romeo and Juliet meet each other. There is a mascarade party within the Capulet household. This is the scene where Romeo and Juliet first kiss. Everything builds up to this scene. Firstly, the beginning of the scene shows the presentation of the characters wearing masks to cover their faces. Within this scene, when Romeo and Juliet first meet, Shakespeare changes the language, which they both speak to each other. The language used by Romeo and Juliet speak is very poetic, and also very religious, also Romeo speaks first: † This holy shrine, the gentle sin is this†. The layout of the way Romeo and Juliet speak is very poetic, and is also in the form of a sonnet. This quote shows that Romeo is comparing Juliet to a shrine and pilgrims: † My lips, two blushing pilgrims, ready stand†. This play has a strong religious base, as it shows signs of death and marriage. Religion also conveys purity and key elements within life. Romeo and Juliet both speak in a manner of a sonnet. They both speak a full stanza, and then two lines each, and then a couplet, which they both share. Juliet gains confidence as the conversation goes on. As both Romeo and Juliet’s responses become much shorter, they also move closer to each other ready to kiss. Within the sonnet, the use of a couplet which Romeo and Juliet both share, suggests that they are meant to be: Juliet: † Saints do not move, though grant for prayer’s sake. Romeo: Then move not while my prayer’s effect I take†. This couplet adds an effect that they are meant to be, love at first sight and are immediately attracted. Fate has dictated that they would die together which allows many moments of dramatic irony due to the audience already knowing that it is written in the prologue. The dramatic effect within this scene is the use of religion. Later on in the scene, dramatic irony is shown again as Juliet speaks to the nurse: â€Å"My grave is like to be my wedding bed†. This is dramatic irony, as the audience already knows from reading the prologue that this will come true, as it is their destiny. Act 2 scene 2 is the second meeting where Romeo and Juliet meet. This is one of the most famous scenes in Romeo and Juliet, and also the most romantic scenes in the history of drama. This is the balcony scene where the destined lovers engage in a very poetic and romantic conversation. The mood and tone of this scene is built up by romantic conversation, firstly, Romeo speaking aloud. Romeo dominates this scene, as he is the one who pursues her. He begins the conversation in the opening of the scene. This whole scene is devoted to Romeo and Juliet’s interaction. Romeo sees light in the window of the balcony, and uses a metaphor to compare Juliet to the sun: ‘It is the east, and Juliet is the sun†. Romeo compares Juliet to the sun, as light is essential for everyone to survive, as Juliet is essential for Romeo to live. Light is eternal and it shows security and warmth. It is also very pure. Again, within this scene, religion is used to convey Juliet’s innocence: â€Å"As is a winged messenger of heaven†. Romeo compares Juliet to an angel, which shows love, purity and innocence. Within this scene, Romeo is very poetic, whereas Juliet is pragmatic: † If they do see thee, they will murder thee†. This shows that Juliet is aware of the consequences that will befall Romeo if he is caught. Within this scene Juliet is very nervous and feels very insecure: † Dost thou love me? I know thou wilt say ‘Ay’. † This quote shows that Juliet feels herself very insecure and questions Romeo about their love. In the scene, Romeo uses a variety of techniques to declare her love: † I should adventure for such merchandise†. Romeo uses this to persuade Juliet and shows exaggerated devotion towards her. Juliet also changes during the course of the scene. † In touch, fair Montague, I am too fond†. Juliet uses an epithet- ‘fair Montague’ which shows that she has had a change in confidence. Juliet’s perception of Romeo is that he is fair and kind. Romeo gives Juliet his reassurance of their love: † Th’exchange of thy love’s faithful vow for mine†. This quote shows that Romeo wants her love. In this scene dramatic irony is introduced again: † And the place death, considering who thou art, If any of my kinsmen find thee here†. This quote shows that Juliet’s family will come after Romeo if they find him here, Tybalt’s violent threats earlier in the play increase the tension. Juliet switches the conversation to where they will next meet: † I have no joy of this contract tonight†. Once Juliet is sure Romeo is in love with her, she needs a sense of future security whereas Romeo continues to be romantic and live for the moment. Act 3 scene 5 is the third and final scene which Romeo and Juliet are presented to the audience alive. Between Act 2 scene 2 to this scene, Shakespeare has added violence to contrast with love. This is so that the audience can anticipate the tragedy as it builds up tension towards the death scene. Within this scene, the mood has changed from previous scenes where Tybalt has been killed, and Capulet insisting on Juliet marrying Paris, the tension has lifted. Juliet opens the scene, which shows that she is more confident now. Juliet is very poetic: â€Å"It was the nightingale, and not the lark†¦. † Juliet is playing with Romeo, teasing him and with the use of romantic imagery she is trying to persuade Romeo to stay with her. Within this scene Romeo and Juliet speak equally, feeling both equally confident. Most of what Juliet is saying is that she wants him to stay longer, due to his banishment: â€Å"Therefore stay yet, thou need’st not to be gone†. This quote shows Juliet’s insecurity, she needs to feel his devotion. Romeo replies to this question: † I have more care to stay than will to go†. This response is what Juliet wants to hear to feel his devotion and reassurance of their love. Within this scene, due to Juliet feeling confident, she once again becomes pragmatic: â€Å"It is, it is, hie hence, be gone, away! â€Å". There is again also dramatic irony in this scene: † More light and light, more dark and dark our woes! † This illustrates that there future is very bleak, becoming depressing as the day goes on. Juliet feels her life is Romeo: † Then, window, let day in, and let life out†. There is another case of dramatic irony when Romeo and Juliet speak: † O think’st thou we shall ever meet again? â€Å". These words are said in innocence but the audience suspect that this will be the last time they are together alive: From these three scenes we can come to a conclusion that Romeo and Juliet’s relationship was set to end in tragedy, which was their destiny. There relationship dramatically changed over the course of five days. The three scenes in which Romeo and Juliet interact all lead up to the tragic ending. The intensity of their love propelled them forward to a tragic end. Over the course of their love the audience can observe that Juliet is becoming more confident in her love for Romeo. Their seemingly desperate need for each other blinds them from behaving rationally. Their love shows intensity which shows that they were meant to be, as together as one soul. Fate and destiny has made them fall in love and also takes their lives.

Broken April Essay

Broken April was written by Ismail Kadare, the novel takes place in the mountainous regions of Albania during the 1920’s. The Kanun is an ancient set of rules that controls the daily lives of the people in the mountains. Such as Gjorg a 26 year old mountaineer, who is pressured by his family to seek vengeance for the death of his older brother. A newspaper writer Bessian and his wife Diana Vorpsi are from the city who are very intimate newlyweds having their honeymoon in the mountains. Kadare uses the lack or there of physical proximity to imply the strong detaching power of human relationships made by the Kanun. As illustrated by Bessian’s obsession of the Kanun causing a rejection of Diana, which is later mirrored when she develops her own obsession with it making that Bessian develops a fear of the Kanun. When Diana and Bessian were first introduced, Kadare displays a more intimate connection between them but, Bessian’s thought of the blood code is making their relationship lurking into separation. While Bessian and Diana were riding in the carriage, Bessian, â€Å"holding his wife’s hand† and at the same time â€Å"moved his head† (61) towards the window of the carriage while watching the mountains. His â€Å"holding† signifies Bessian’s dominating control of their relationship shown by the inequality of their grip. Bessian is illustrated as a dominating character because society and the blood code make it that women are inferior, by implying that Diana’s voice is worthless to Bessian. The method is also exemplified by â€Å"his wife†, which alludes to her unknown identity therefore making her seem like and unimportant character. The physical proximity still exists as a warm and tender relationship between Diana and Bessian but, Bessian’s unconscious interest in the Kanun is destroying on his focus of Diana, during their honeymoon. Diana and Bessian were approaching the tower to stay the night, and they get into an argument and Bessian â€Å"shook his dead for a moment† (84) suggesting a disapproval of Diana’s immature behavior by her smiling and their connection in the relationship. The words â€Å"moment† and â€Å"flicker† describing Diana’s quick and lively personality foreshadows Bessian developing a greater aggression towards Diana because of the blood code. Meanwhile, â€Å"match† symbolizes a destructive spark causing a powerful evil fire, foreshadowing a huge physical disconnection between them. The foreshadowing of their relationship and Bessian’s dominance leads to Diana’s opinions slowly supporting the Kanun more. After their introduction, Diana and Bessian decide to go to the tower of Orosh. During their journey and stay, Diana begins to steadily detach from Bessian and begins to become a slave to the Kanun’s seductiveness. As Diana and Bessian were planning to go to Wolf’s Pass, they were discussing about the boundary marking’s ceremony at Wolf’s Pass while inside the carriage. Diana put her head â€Å"right† (98), against the window. The physical action of her head â€Å"right† against the window suggests that she is trying to escape the discussion of the Kanun and the honeymoon because she is trying to resist the negative energy of the Kanun. Also the other meaning of the word right, signifying correctness, suggests how she is attempting to go the correct way, from the inside her of heart, away from the blood code. Additionally during the discussion Diana exclaimed, â€Å"How many opportunities to die! † when speaking to Bessian indirectly but directly to the window. The action of speaking to the window reveals a rising tension of Diana being able to express her feelings to Bessian, eventually making her feel worthless. Diana’s opinion of, â€Å"how many ways to die†, is used to compare Diana’s pale, cold, piercing opinion, compared to Bessian’s warm, passionate, intrigue of the Kanun alludes to the vast differences of their ideas and that Diana is developing a slight amusement to death. While Diana and Bessian were talking to Ali Binak, Bessian looked at his wife questioningly, as if he was saying to her, â€Å"What has come over you? (101), Bessian is starting to fear the Kanun because it is taking over Diana’s jovial sprit and replaced with a weak aggressive one. Additionally he is feeling insecure because he is not capable of giving her protection and security of a husband, therefore causing him to fear the Kanun and society it. Bessian said he saw, a â€Å"fleeting† light in her eyes. The light symbolizes purity and by it â€Å"fleeting† from her eyes shows that Bessian doesn’t know Diana’s true emotions anymore as he did before by looking into her eyes. With their opinions bringing tension between them, Diana eventually becomes engulfed in the Kanun but still seeks an escape leading to the regrets of Bessian bringing Diana on the trip. Around the end of the book in chapter six and seven, Bessian has developed a fear of the Kanun because it has generated a dark-empty look in Diana’s eyes. His fear was later developed into a feeling of remorse that Diana has become under the Kanun’s power. Diana and Bessian were in the carriage right after she saw Gjorg for the first time. Bessian â€Å"moved his head and kissed her timidly† (169), â€Å"Moved† throughout the book signifies a distant separation but Bessian is attempting to closely mend their relationship, by â€Å"kissing† her to show the affection he didn’t before. But he is â€Å"timid† because he is afraid of her new character from the Kanun and is questioning the existence of old Diana coming back. After Bessian attempts kissing Diana, Bessian fell asleep while Diana has her back turned to him as Kadare describes her action as, â€Å"timid, as if her back was towards a stranger† (181). With her back turned towards Bessian and her face towards the fire exemplifies that Diana is moving more towards a strong destructive as symbolized by the fire, the Kanun. The word â€Å"stranger† shows that Bessian is no longer important to Diana and that the roles of dominance have switched. Diana and Bessian were walking in Upper White Water they were having an intimate moment until they started talking about the tower of refuge, Diana â€Å"turned her head towards the kulla† (186). Diana’s action of turning her head exemplifies submission to the Kanun and her love for Gjorg. Meanwhile she is completely indifferent to Bessian and making an unconscious plan of going into the tower. When they were traveling back home to the city Bessian became regretful of bringing Diana and thought, â€Å"What the devil was I thinking? † (207), the question shows a majority of Bessian’s attitude towards the Kanun. Depending on how the question is read his emotions can be viewed as regret, sorrow, anger, fear, or hopelessness of completely losing Diana to the mountains. â€Å"Devil† is used as a symbol of evil perhaps referring to the evil separating power of the Kanun. In conclusion, Kadare uses physical proximity to emphasize the destructive power of human relationships made by the Kanun. In the beginning Bessian was in power because the man is seen that way in society and in the Kanun, but his obsession foreshadows Diana and Bessian’s separation. Second, Diana is trying to escape the power of the Kanun but is later completely submerged in its power. Lastly, the trip to the mountains was eventually regretted because the Kanun completely changed their intimate relationship because Diana and Bessian because it they were outsiders going into an unknown power.

Intro to Accounting Notes

Business Environment Accounting: The information system that measures business activities, processes the information Into reports, and communicates the results to decision makers. Two Major Fields of Accounting: 1 ) Financial Accounting: The field of accounting that focuses on providing information for external decision makers. 2) Managerial Accounting: The field of accounting that focuses on providing information for internal decision makers. Certified Public Accountants (Spas): Licensed professional accountants who serve the mineral public.Certified Management Accountants (Camas): Certified professionals who specialize in accounting and financial management knowledge that typically work for a single company. Financial Accounting Standards Board (FAST): private organization that oversees the creation and governance of accounting standards. Securities and Exchange Commission (SEC): the US government agency that oversees the US financial markets. Generally Accepted Accounting Principl es (GAP): the main US accounting rule book, created and governed by the FAST.Cost Principle: states that acquired assets and services should be recorded at their actual cost. Going Concern Assumption: assumes that the entity will remain in operation for the foreseeable future. Accounting Equation: Assets-Liableness + Equity Assets: an economic resource that is expected to benefit the business in the future. Liabilities: debts that are owed to creditors. Retained Earnings: capital earned by profitable operations off corporation that is not distributed to stockholders. Net Income: the result of operations that occurs when total revenues are greater Han total expenses.Revenues: amounts earned from delivering goods or services to customers. Expenses: the cost of selling goods or services. Steps to Analyze a Transaction Assets Liabilities + Equity (Contributed Capital & Retained Earnings) Cash + Acts Race + Supplies+Land = Acts Payable + Common Stock – Dividends + Revenue – Expenses 1) Identify the accounts & account type -Cash (Asset) & Common Stock (Equity) 2) Decide if each account increases or decreases 3) Determine if the accounting equation is in balanceAccounts Payable: a short term liability that will be paid in the future Accounts Receivable: business expects to receive cash in the future from customers for goods sold or services performed. 4 Types of Financial Statements 1) Income Statement: Reports net income/net loss of business for specific period 2) Statement of Retained Earnings: Reports how the company's retained earnings balance changed from the beginning to the end of the period. 3) Balance Sheet: Reports on the assets, liabilities, and stockholders' equity of the business as of a pacific date. ) Statement of Cash Flows: Reports on the business's cash receipts and cash payments for a specific period. Return on Assets (ROAR): measures how profitably a company uses its assets. Return on Assets = Net income/Average total assets Average Total Assets = Beginning total assets + ending total assets 12 4 Reasons Stockholders Equity Can Change: Stockholders equity is broken out into two components, contributed capital and retained earnings, as shown in the accounting equation. The basic component of contributed stock capital is stock.