Psychologists and Psychiatrist

Psychology is a fascinating subject that carries a lot room for interpretation. Psychology being a relatively new scientific arena continues to grow due to exploring of experts into studies of the mind and behaviors directed by the brain. Psychologists and Psychiatrist continue to discover new methods of therapy to treat psychological disorders. Cognitive therapy is the fastest growing and most extensively studied form of psychotherapy in America. † Cognitive therapy emphasis focuses on present thinking problems.The website I chose is: www. nytimes. com/library/national/science/health/011100hth-behavior-beck. html. I chose this website because it contains an article about Dr. Aaron Beck, who is the founder of cognitive therapy. Dr. Beck’s perception of psychological difficulties lies within â€Å"thinking problems. † Unlike behavioristic, psychoanalytic, humanistic, and trait theorists, cognitive theorists believe that psychological problems lie within current tho ughts. Disorders are a result of a patients desire to relish in self-deprecating thoughts.This article explains how Dr. Beck discovered cognitive therapy and decided to leave Sigmund Freud’s psychoanalytic approach behind. Dr. Beck attended the Philadelphia institute in 1958. There he begin to conquer his fears of blood and pain due to a staph infection from surgery on his broken arm developed due to his mothers overprotective behavior which caused him to restrict his activities as he also developed a phobia of getting hurt. Dr. Beck conquered his fears by teaching himself to recondition his thoughts.Dr. Beck’s cognitive therapy intent is to correct distorted thinking patterns by challenging patients to explore positive and beneficial thoughts. â€Å"He encourages patients to test their perceptions of themselves and others, as if they were scientists testing hypotheses. † The idea of cognitive therapy is to help patients to first realize their how their thoughts can be self-deprecating and then he aims to condition their present thoughts to new thinking. Dr. Beck is methodical about his cognitive therapy. First Dr.Beck listens to the patient and then he asks questions to help them conquer irrational thinking. There are some behaviorist psychologists who appose Dr. Beck’s cognitive theory. These critics feel that thought can not be measured objectively. One Dr. Klein’s position is that cognitive therapy is just a morale booster, and not the therapeutic solutions it promises. My overall evaluation of this website is how well rounded the information covered the subject. It provided an in depth analysis of the cognitive theory; how it was conceived, who will benefit most from it, and the methodology used.I find it fascinating that a person can perform psych therapy on themselves just by simple reconditioning their thoughts. Sometimes I find myself obsessing over small things, and now I can practice to condition myself to refrain from obsessive thoughts. I would really like to learn more about the methodology used to treat cognitively and more details about the results shown with patients. I plan on conducting more research on cognitive theory to find other cognitive theorists and their methodologies.This article has taught me more about myself and how I can improve my relationships by positive thinking. This article has shown me how to identify certain thoughts that I would prefer to refrain from thinking, and how to correct them. | Definitions Deprecate means to deplore something, depreciate means to belittle something or to treat it as unimportant. However, self-deprecating, in the sense ‘disparaging oneself', ‘modestly understating one's own abilities' has become firmly established, although some people deprecate this usage.Berate to rebuke or scold angrily and at length. Prosaic commonplace or dull; unimaginative Precept a commandment or direction given as a rule of action or conduct, an inj unction as to moral conduct Pragmatist a person who is oriented toward the success or failure of a particular line of action, thought, etc Works Cited Goode, E. â€Å"A Pragmatic Man and His No-Nonsense Therapy. † www. nytimes. com/library/national/science/health/011100hth-behavior-beck. html 11 Jan. 2000.

Investments for Inflationary and Deflationary Environments Essay

Inflation is the raise of a price level of good and services over a period of time. When there is an inflation each unit of currency buys fewer goods than it was possible before. Inflation affects can be both positive and negaive. Positive effect inclule ensuring that central banks will ajust real interest rates and encaurage investment in non-moneaty capital projects and the negative side is that people hav uncertainty over future and can damage investments and savings. Inflation can be cosed because of big amount of money supply. So now what are the best investments during inflation? The good thing is that there are some places there money investments will be secured. Important during inflationary environment is to avoid having cash, it is good not to hold cash for long time and allocate it into other assets and investments. It is very good to invest cash into gold or other precious meas. It always casts a lot after the inflation or crises. Gold is seen as a hedge against uncertainty and store of value. Investing into gold is possible to buy gold or just to invest into company which are mining gold. It is profitable to invest in crude oil, a lot of people invest into it as a protection against inflation. Oil is inelastic supply, so any decrease or increase in price would not result the increase or decrease in supply. There is many ways investing into crude oil with its con and pros. If you want to invest in short fixed income, you should avoid the US treasure because they may underperform. When yields start to raise bond price will fall. This investment provides a return in the form of fixed periodic payments and eventual return of principal at maturity. Investing into technology is also very good both at deflationary and inflationary environment. Does not matter on an environment technology is in demand and will continue to evolve. It is good and profitable to buy treasure protected securities so called TIPS, it gives a safety of the government bonds during inflation. Deflation is the opposite of inflation, decrease in the general price-level of goods and services. Deflation occurred when inflation rate falls below 0%. Deflation increases the real value of money. While deflation cash is â€Å"king†. It the rule number one, cash is one of the best and the most safety investment at the deflationary environment. Pay off debts is also very good while deflationary time. It is a period when every single dollar matters, each dollar can be profitable in future. Companies may have problems while deflation, so it is very good to invest in companies which have ideal short selling targets. Buy also high quality dividend paying stocks. While most of the firms will lose pricing power large cap high quality companies will dominate their industries and will be able to maintain pricing power. Seek companies with pristine balance. While deflation, house prices fall, as such it is better or rent rather than own. While deflation technology will still be in demand. The technology was announces as one of the best areas to allocate capital in high quality equities. As we already know TIPs are long-term protection while inflationary environment. But there is an opinion that deflation will lead to inflation after a period of time. This is an early protection in deflationary environment to avoid problems in future.

I, Icarus

I, Icarus by Alden Nowlan Dreams are the perfect worlds for all of us for dreams give us the chances to possess the goals we are craving for that we might not be able to have in reality. Johann Wolfgang von Goethe, a famous German writer, artist, and politician, expresses his perspective about dreams: â€Å"Dream no small dreams for they have no power to move hearts of men†. Through â€Å"I, Icarus†- one of the poems in the collection Bread, Wine and Salt by Alden Nowlan, we readers will get to know his childhood’s vivid dream.Alden Nowlan produces a striking effect that leaves deep impressions in readers’ minds right at the beginning of the poem with its title â€Å"I, Icarus†. As to my understanding, the title refers to Greek myth which is about Icarus- the son of the master craftsman. Icarus’s father constructed two pairs of wings from feathers and wax for the purpose of escaping Crete, and also warned him not to fly too close to the sun. Ignoring his father’s caution, Icarus attempted to reach the sun, which resulted the wax to melt and cost him his own life.Through the title’s allusion and Nowlan’s act of putting â€Å"I† in front of the name â€Å"Icarus†, readers get some hints that this poem might be another story of catastrophic fall caused by over-ambition. After a few first times reading â€Å"I, Icarus†, readers might superficially interpret the meaning to be about a flying dream, yet if we dig deeper, we will be able to comprehend the yearning to reach a superior dimension of Nowland. As a matter of fact, Alden Nowland was born in a small village in Nova Scotia; the constrictions had influenced him to foster the dream of breaking free to seek his own prospects.Nowland reflects back to his childhood and imagines he was flying beyond all the restrictions that had been confining him. Even though fictional elements play the main role in the whole poem, Nowland’s detailed description and firm assertion â€Å"There was a time when I could fly. I swear it. â€Å"(1), â€Å"I rose slowly†¦toward the window† (9-12) have thoroughly convinced readers that he could really fly. The metaphorical and imagery has been utilized intriguingly as an analogy to represent the country life of Nowland’s childhood.Like a gentle sheep, Nowland is penned inside the boundary of the â€Å"pasture fence† (13); â€Å"the music of flutes† (16) is played by the shepherd to lure and tell him to be satisfied with this confinement. On the other hand, the sheep himself is eager to go on an adventure to explore the mysterious space behind â€Å"the dark, the haunted trees† (14), thus wishes it could fly to float â€Å"beyond the pasture† (15). To another extent, the imagery of the countryside does not only indicate feelings of confinement, but also evokes senses of peace and secure.Even though Nowland – the â€Å"shee p† – has the feelings of being restricted by the constrictions of this small town, it still brings back to him safety that protects him from the perils behind â€Å"the dark, the haunted trees† (14). Standing outside Nature, enjoying the harmonious melodies of an Aeolian harp – â€Å"the music of the flutes† that â€Å"the wind made† (16- 17) falling in line together with â€Å"voices singing†, Nowland becomes intimate with Nature and his beloved hometown.In brief, â€Å"I, Icarus† has reflected successfully Nowland’s complex emotions and currents of thoughts; he cherishes his great ambitions to escape from restrictions and explore a whole new world outside, yet still be attached to his familiar homeland which provides him extreme protections and harmony. Relating the context of the whole poem to its own title â€Å"I, Icarus†, readers now realize that it’s not a story about Nowland’s catastrophic fal l as Icarus, but his wonders whether he should be a risk-taker to pursue his dream of reaching the sun or live a peaceful and ordinary life.

Case Study Assignment.....Metals in the Environment, my topic is lead

Assignment.....Metals in the Environment, my topic is lead - Case Study Example d in the 1960’s concluded that the amount of lead introduced into the environment via human means was 100 times more than that the amount added naturally (Wright A. & Welbourn, 2002). This research proved that lead contamination was one of the hazards brought by industrialization. The form of lead that is most responsible for lead transmission is tetraethyl lead. Tetraethyl lead is a lead derivative that is used as an additive in gasoline. Other sources of inorganic lead are lead containing sweeteners, lead salts in paints and anticorrosion coats, in batteries, in protective glass that are used against radioactive substances and in insecticide. Lead is also used in water distribution networks and is also used in containers that hold food and drinks. The usage of lead in these sensitive areas can cause mobilization of lead if the liquid medium is soft, acidic or poorly buffered. This translates into lead contamination in drinking water and food and drink vessels. As mentioned afore, paints and anticorrosive agents contain high concentrations of lead. As anticorrosive coats or paints wear off they mobilize particles of lead dust into the air. Lead dust is a direct means of contact with lead particles, and it can also settle in soils or aquatic mediums. Most for ms of lead are insoluble. This means that even though practice of using lead derivative compounds in products has ceased, lead and its derivatives are still in the environment. The dispersal of lead is through three major mediums; the atmosphere, the water and the soil. The dispersal of inorganic lead through the atmosphere is dependent on the particle size of lead. Lead particles having larger size, greater than 2Â µm in diameter; tend to fall close to their source of origin. They continue to contaminate and pollute the water and soil around the source. Particles which are smaller in size, less than 2Â µm in diameter; are capable of travelling larger distances. Transference through atmosphere not only

Compare Article 5-109 (a) of the ( Amercian) Uniform Commercial Code Essay - 1

Compare Article 5-109 (a) of the ( Amercian) Uniform Commercial Code with the approach under english, the full question is in the attachment - Essay Example This also stands to be true in a scenario when the transaction being backed by a letter of credit does not actually take place. On the one side, the letters of credit extend to the sellers the assurance of a guaranteed payment, while on the other side they safeguard the interests of the buyers by necessitating the presentation of the right documents that to a large extent ensure performance. Such documents may be the like of insurance forms, transportation documents and quality related certificates. The underlying dogma supporting the autonomy principles associated with letters of credit is that the transaction backed by a letter of credit stands to be autonomous of the sales deed formalized by the buyer and the beneficiary. To put it simply, the two essentially contractual arrangements mentioned above are regarded as being independent of each other. In other words, the utility of a letters of credit is pragmatically solemnized by the severance of services and documents. It is this principle that is the legal ground on the basis of which banks agree to such transactions. As already mentioned, a letter of credit is the legal and financial instrument, which extends to the beneficiary the security of getting the payment due to one. Yet, this bolstering of security to the beneficiary in a way dilutes the security against risk or loss to the account party. Thus, in the letters of credit, the balance of risk is tilted more in favour of the seller. Though the autonomy principle practically assures the expected commercial results in business transactions, this principle stands to be defective and inequitable when the underlying transaction is vitiated by a fraud. Under such circumstances, the autonomy principle gets limited by the fraud exception. In the United States, in Maurice O’Meara Co v National Park Bank, the court of law simply denied the possibility of invoking a fraud exception.

Ethics in Finance Essay Example | Topics and Well Written Essays - 2000 words

Ethics in Finance - Essay Example This paper will evaluate the various ethics theories and analyze how they can be used to solve the ethical dilemma. Utilitarianism Utilitarianism ethics theory holds that the right action is the one giving the ultimate form of satisfaction for every one that is affected (Snoyenbos & James 17). It is notable that utilitarianism is a consequentialist moral theory that seeks to evaluate the outcomes of an action rather than the action itself (Van Staverin 21). According to this theory, the rightness or wrongness of an action is dependent on the general effect that the action has on the people it affects. Suffice to say, utilitarianism holds that an action cannot be judged in isolation to be good or bad. In this regard, an action is right if it produces more intrinsic good than any other action that would have been taken. For instance, utilitarianism could hold that cheating is right if it resulted in the saving of lives of people in danger. Actions are right when they maximize happiness and good for all the affected persons. One of the basic objections of the utilitarianism ethics theory is that the judgment of an act is based on its future outcomes (Singer 41). It is not possible for a person to know the precise consequences of his or her actions in the future. Thus, the utilitarianism ethics theory cannot be applied to justify the morality of present actions since the outcomes have to be evaluated first. However, the counter-argument to this objection is that a person can use the subordinate rules to choose the course of action in a particular situation. If in the particular circumstances greater good would result by discarding the subordinate rules, the utilitarianism ethics theory can be applied to justify an alternative action (Van Staverin 23). In the case study, the manager has to make a decision that would result in greater intrinsic good for all the people affected. Linda has had a good financial history with the bank for the past twenty years. In her twe nties, she was financially prudent and made significant savings. In the recent past, she has been in a financial turmoil culminating in frequent overdrafts and exceeding her credit card limits due to depression. Despite this, she has never defaulted on her repayments although her sister Sophie has had to bail her out twice in the recent past. Linda points out that she took care of their mother, Catherine, when Sophie was setting up her businesses. Catherine has been a faithful customer of the bank for the past fifty years. In fact, her account with the bank has been prudently managed over the years and she managed to save some money for her funeral. Her financial position has changed only in the recent past since she has to cover the costs of accommodating her daughter Linda. Sophie has successfully established herself as a business lady with a growing empire of companies. She has bailed out Linda and Catherine twice but she insists that they have to take charge of their financial i ndependence. She proposes that the bank should cut of off their credit card facility as well as overdrafts. According to utilitarianism ethics theory, it would be appropriate for the manager to keep the credit facilities for both Catherine and Linda. The credit facilities would help Linda to obtain money to fulfill her personal and family needs considering the fact that she was no longer working. Also, the credit facility would help Catherine to pay rent and buy food for herself and Linda’

News Values Essay Example | Topics and Well Written Essays - 500 words

News Values - Essay Example The Egyptian piece I picked to help demonstrate the seven news values is a piece about an important Egyptian Imah issuing a fatawa forbidding Muslims from participating in a strike against rising food prices that was set to take place on Sunday. The first news value, the value of impact, is very strong in this piece. This is sure to be a hot topic over in Egypt, as the religious leaders have now made it so people cannot participate in the strike that was to take place on Sunday. It has the right amount of impact upon the reader, and is sure to stir up interesting reader response. The article also displays appropriate timeliness. The article is coming out well before the strike, and it also gives people enough time of a warning if they had planned on taking part in the strike. It would completely loose its timeliness if it came out after the strike, so I would have to say that the timing is perfect. I do not think that the article could carry any more prominence that it already does. It involves a high ranking religious leader, and a touch sensitive subject about the strike. It is an important story, and would be a very important story for the people reading it over in Egypt. Proximity is also right on the dot.

Discuss the military strategy of the North from 1861 to the end of Essay

Discuss the military strategy of the North from 1861 to the end of 1862. How successful was this strategy - Essay Example Even though this strategy led to numerous casualties, it was instrumental in grounding the Southern forces. The North strategy was good to an extent that it diminished any possibility of foreign intervention, particularly from the Great Britain (Bradford, 2010). Finally, it is important to look at how successful the North strategy was. To a greater extent, historians and military strategists agree that the strategy applied by the North from 1861 to the end of 1862 was successful. Martin (2003) argues that this view is informed by the outcomes of the strategy. It is considered successful because it made the Southerners to lose morale because they were constantly exhausting their efforts by being prepared to fight without actually doing so. This strategy saw the North destroying vital transportation routes of the Southerners, a strategy that was effective in ensuring that they won the war (Bradford,

Honda Assignment Example | Topics and Well Written Essays - 500 words

Honda - Assignment Example In spite of the bad timing of its entry, the company’s determination to succeed in the international industry led it to where it is now. Product- In terms of product efficiency 100 % quality is not good enough for the company, the standard is set to120% product quality (â€Å"Aiming for 120%†). This has always been their basis into making their products, in line with the goal of meeting or even exceeding customer satisfaction. Honda is focused on the creation of innovative technologies for the enhancement of safety. It is considered as the most fuel efficient car manufacturer in the US for the year 2010. Price- The versatility of their car models are fit to those who plan to buy a car that is enough with their budget. Americans are busy people that’s why owning a car is definitely important. Considering the quality of vehicles manufactured by Honda and with prices that are not too high to be reached, attracting buyers to purchase their product is not at all hard. Place- Honda’s successful penetration into the US market is something that is now catching the attention of strategic management theorists. Standards of the American people are totally different with those of the Japanese. It is one of the challenging parts of business when a firm decides to put up a branch or expand in an unfamiliar place. Having been able to introduce products with a Japanese approach and with the US market’s favorable reaction, Honda’s decision to launch its first out of the country subsidiary in the US was a success. Promotion- The people’s word of mouth helps in the promotion of a product most especially when it is a positive feedback of what they have experienced upon using it. The satisfaction of the customers is what Honda and its dealers from around the world hope to achieve. That is why in order to gain popularity and a good

What can we learn about the enduring nature of war from Scipio Essay

What can we learn about the enduring nature of war from Scipio Africanus - Essay Example This essay examines the principles of one of the most famous Roman artists of war Scipio Africanus, whose tactics and strategy were so brilliant that they are studied by modern students and used in modern offensive actions. Scipio Africanus gives us a few lessons on the endure nature of war. Scipio uses himself as an example to demonstrate that soldiers must trust their leader and must believe that he has a definite plan and a definite aim. â€Å"Scipio similarly made the men under his command more sanguine and more ready to face perilous enterprises by instilling into them the belief that his projects were divinely inspired.†1 Scipio’s authority was so high that his men thought he was led by some higher power to which he was accountable and responsible. Today in modern military the same ideas should be implemented through the seven Army Values, which are aimed at strengthening the morality. Several times throughout his book Liddell Hart mentions the role of Scipio†™s high morality and strong willpower in his successes. Let’s turn to contemporary military manual to see what it says about the necessity to develop morality both in leaders and in soldiers: â€Å"The army values firmly bind all Army members into a fellowship dedicated to serve the Nation and the Army.†2 It is very important to have proper moral spirit. All the sources evidence that Scipio was a person of a very high moral qualities deeply respecting both his soldiers and other people. George C. Marshall, General of Army, once said: â€Å"you have to lead men in war by bringing them along to endure and display qualities of fortitude that are beyond the average man’s thought of what he should be expected to do. You have to inspire them when they are hungry and exhausted and desperately uncomfortable and in great danger. Only a man of positive characteristics of leadership with the physical stamina that goes with it can function under those conditions.†3 Another Scipio’s postulate is that the leader must be confident. â€Å"The secret of his sway, extraordinary in one so young, over the crowd mind, especially in times of crisis, was his profound self confidence which radiated an influence to which the stories of his divine inspiration were but auxiliary. Self-confidence is a term often used in a derogatory sense, but Scipio’s was not only justified by results but essentially different, a spiritual exaltation which is epitomized by Aulus Gellius as â€Å"conscientious sui subnixus† –â€Å"lifted high on his consciousness of himself.†4 It is quite natural and necessary for a leader to feel confidence as none of the soldiers want to be led by an uncertain leader. Experienced officers know that it is not so much important WHAT you say but it matters HOW you say it. Audacity is the basic attribute in offensive actions in all times. â€Å"Audacity is a simple plan of action, boldly executed.† Vi olence of actions also matters. According to George S. Patton, â€Å"A good plan violently executed now is better than a perfect plan executed next week†. If a leader is not confident he will not be able to encourage his men to be audacious, he will never help them cope with the fear they face in the battles. Napoleon used to say: â€Å"The whole art of war consists in a well ordered and prudent defensive, followed by a bold and rapid offensive†5. Another basic principle of the art of war is objective, which demands to â€Å"direct all efforts toward a decisive, obtainable goal.† A good leader must be able to give an objective to his soldiers. â€Å"To the soldiers suffering under defeat he made no reproaches, but aptly mingled an appeal to their reason and to their spirit, reminding them how often in Roman history early defeat had been the presage to ultimate victory, how the sure tilting of the balance had already begun the initial disaster found their counte rpoise

Chicago Fire in December,22,2010 Research Paper Example | Topics and Well Written Essays - 750 words

Chicago Fire in December,22,2010 - Research Paper Example The fire is said to have been started by squatters burning debris to keep warm in the cold winter in a building whose utilities had been cut off. The fire is believed to have spread and caught the roof that was weighed down by snow and ice leading to its collapse on the firefighters on duty. The ensuing mishaps by the fire department, according to a federal report, are attributed to the tragic deaths and casualties that occurred during the firefighting exercise. According to the report, the firefighters sent into the vacant building had radios, yet their supervisors outside did not get to know the happenings inside: the building’s wooden pillars were letting the fire crawl up to the ceiling so fast. As a group of the fire fighters wrestled the fire from inside the building, another group was on the roof, cutting it up and spraying water on the fire. The cutting was supposed to allow smoke to escape, but it led to the roof collapsing, killing the two firefighters and injuring n ineteen more.  According to Tim Merinar, the lead federal investigator in the Chicago fire incident, the Fire Department’s supervisors ought to have taken a defensive approach in tackling the fire by ordering more firefighters to get out of the building after it was ascertained no persons were trapped inside, as had been previously feared on arrival at the scene. The report faulted the Fire Department for the deaths and injuries on the firefighters. Apparently, the department overlooked several things that ought to have been part of its strategy.

Instructional Communication Essay Example for Free

Instructional Communication Essay Instructional Communication Instructional Communication can be best explained as the transfer of information in a teaching environment. There are a lot of aspects that is associated with Instructional Communication. The contexts that are most relevant to my career are teacher to teacher communication, teacher to student communication, comprehension of information, and technology used in the setting. These four aspects make up my career as a public affairs instructor for the Department of Defense. Instructional communication is very important to the field of communication. Instructional communication is implemented everyday all around the world. It is implemented in schools and in job settings. This type of communication is how we relate information to new people on the job or students in a classroom. In order to determine the depth of comprehension we have to analyze formal and summative assessments of the students. During the course that I instruct, we also use technology to convey information as well as have the students to use technology to complete projects that are due during the course. Instructional communication has several different contexts located within it. I feel that the most important context would be teacher to student communication. It is extremely important as a teacher or an instructor to be able to convey the information to your audience and them be able to comprehend what you are talking about. It is also very important that students ask questions or talk about the material that is being covered to show understanding. According to Karaduz, (Karaduz, 2010) â€Å"An important part of instructional services involves giving messages to students about how they should learn and become involved in the learning process, giving those stimuli for reinforcement, identifying the gaps in their learning, and amending these gaps. An effective instructional process thus requires strong communication skills along every step. It is through language that a healthy communication is established, student interest is aroused, and ways of comprehending, practicing and retaining information are clarified. Karaduz said a lot in these few sentences. He talked about how important communication is between student and teachers. What good do teachers do when the students cannot understand the teacher’s message? Teacher and student communication is so important in any instructional setting. The next most important part of instructional communication is teacher to teacher communication. It is handy to have colleagues that you can ask questions or get advice about certain criteria. I have worked as a public affairs person for the last seven years. Of that seven years 2 ? of them has been in a combat area. In this intense atmosphere I have learned pretty much everything that I teach my students at the Defense Information School. A lot of times other instructors come to me for information on what should happen in a certain situation in a combat area. I think that teacher to teacher communication is extremely valuable and you should take a advantage of it. According to Lance (Lance, 2010), â€Å"when administrators value collaboration between teacher-librarians and classroom teachers and when teacher-librarians and their classroom colleagues report that it happens more frequently, students are more likely to master ICT standards and more likely to earn advanced scores on state reading and language arts tests. † This study linked collaboration between faculty and students scores. Lance showed that when faculty collaborated on instructional information and objectives the student’s scores went up on formal assessments. Another context of instructional communication is comprehension assessment. As an instructor I have to assess the students learning to see if they have learned the specific objectives to move on to the next part of the course. If students do not meet those objectives then they fail and are recycled to another program. I use different kinds of assessments to check the depth of their knowledge of the material. The students have written assignments, formal assessments, and a Field Training Exercise (FTX). The students also have time to redo any work that they have failed in order to receive a better grade. I provide feedback within two days of the after the due date of the assignment. I provide feedback and remedial for any student that is deemed in need or feels that they need the extra help. Since we try to communicate very well with the students our fail rate is between 2 to 4% each course. Technology is the last item that is very important to instructional communication. â€Å"Based on the immersive interface that underlies virtual worlds such as Second Life and World of Warcraft, virtual environments allow the enactment of complex situations with tacit clues, imulation of scientific instruments, virtual experimentation, simulated collaboration in a team, and adaptive responses to students’ choice—all captured and recorded in data streams (Clarke-Midura, 2010),† according to Jody Clarke-Midura and Chris Dede. In this century technology has advanced so much. We have social media sites, PowerPoint presentations, email, and other was to communicate in and out of t he classroom. I learned that when you do not have proper communication things tend to follow apart.

Inflation within the Indian Economy

Inflation within the Indian Economy By inflation one generally means rise in prices. To be more correct inflation is persistent rise in the general price level rather than a once-for-all rise in it, while deflation is persistent falling price. A situation is described as inflationary when either the prices or the supply of money are rising, but in practice both will rise together. These days economies of all countries whether underdeveloped, developing as well developed suffers from inflation. Inflation or persistent rising prices are major problem today in world. Because of many reasons, first, the rate of inflation these years are much high than experienced earlier periods. Second, Inflation in these years coexists with high rate of unemployment, which is a new phenomenon and made it difficult to control inflation. An inflationary situation is where there is too much money chasing too few goods. As products/services are scarce in relation to the money available in the hands of buyers, prices of the products/services rise to adjust for the larger quantum of money chasing them. Inflation is no stranger to the Indian economy. The Indian economy has been registering stupendous growth after the liberalization of Indian economy. In fact, till the early nineties Indians were used to ignore inflation. But, since the mid-nineties controlling inflation has become a priority. The natural fallout of this has been that we, as a nation, have become virtually intolerant to inflation. The opening up of the Indian economy in the early 1990s had increased Indias industrial output and consequently has raised the India Inflation Rate. While inflation was primarily caused by domestic factors (supply usually was unable to meet demand, resulting in the classical definition of inflation of too much money chasing too few goods), today the situation has changed significantly. Inflation today is caused more by global rather than by domestic factors. Naturally, as the Indian economy undergoes structural changes, the causes of domestic inflation too have undergone tectonic changes. The main cause of rise in the rate of inflation rate in India is the pricing disparity of agricultural products between the producer and consumers in the Indian market. Moreover, the sky-rocketing of prices of food products, manufacturing products, and essential commodities have also catapulted the inflation rate in India. Furthermore, the unstable international crude oil prices have worsened the situation. CAUSES OF INFLATION The different causes of inflation which are experienced in Indian economy in a large proportion would be:- Demand-pull inflation: This is basically when the aggregate demand in an economy exceeds the aggregate supply. It is also defined as `too much money chasing too few goods. Bare-boned, it means that a country is capable of producing only 100 items but the demand is for 105 items. Its a very simple demand-supply issue. The more demand there is, the costlier it becomes. Much the same as the way real estate in the country is rising. Cost-push inflation: This is caused when there is a supply shock. This represents the condition where, even though there is no increase in Aggregate Demand, prices may still rise. I.e. non availability of a commodity would lead to increase in prices. This may happen if the costs of especially wage cost rise. Imported Inflation: This is inflation due to increases in the prices of imports. Increases in the prices of imported final products directly affect any expenditure-based measure of inflation. They play an important role in driving the rise in domestic prices. The rise in the global prices of crude oil and agricultural commodities, including food grains, and industrial products, and setbacks to global economy resulting from sub-prime mortgage disaster and US recession have contributed to Indias inflation. OTHER CAUSES: When the government of a country print money in excess, prices increase to keep up with the increase in currency, leading to inflation. Increase in production and labour costs, have a direct impact on the price of the final product, resulting in inflation. When countries borrow money, they have to cope with the interest burden. This interest burden results in inflation. High taxes on consumer products, can also lead to inflation. An increase in indirect taxes can also lead to increased production costs. Inflation can artificially be created through a circular increase in wage earners demands and then the subsequent increase in producer costs which will drive up the prices of their goods and services. This will then translate back into higher prices for the wage earners or consumers. As demands go higher from each side, inflation will continue to rise. MEASURING INFLATION Inflation in India is mainly estimated on the basis of fluctuations in the wholesale price index (WPI). The wholesale price index comprises of the following indices: Domestic Wholesale Price Index (DWPI) Export Price Index (EPI) Import Price Index (IPI) Overall Wholesale Price Index(OWPI) The new inflation index has already commenced. The index has changed the composition of the Wholesale Price Index (WPI) series. The new data series lowers weight age of the more volatile food items and correspondingly hikes that of core manufacture, products. The new series has incorporated consumer items such as ice cream, mineral water, refrigerator, computer, and TV. The price volatility in these items is relatively limited as compared to fuels or food products. The data released by the Ministry of Commerce and Industry is the first that uses the new base year of 2004-05 and covers a wider basket of goods. The old series used 1993-94 as the base year. The release of the current series of WPI with 1993-94 as its base will be discontinued. The new basket of the WPI has a broader representation of commodities, change in base year and lower weights accorded to primary articles. Problems Due to INFLATION It has been reported that the manufacturing capacity in India is running around 95 per cent, which usually means it is running at full capacity. Therefore, when the price of manufactured products is increasing, it means that demand is usually higher than supply and that is a clear case of demand-pull inflation. On the primary goods front, which consists of fruits, vegetables, food-grains etc, it is not that straight-forward. It has certainly been all over the news that the prices of fruits and vegetables are increasing and a trip to the supermarket or local grocery shop will testify to that. Although it is a clear case of demand-pull inflation, on the other, it is also a bit of a supply shock when one considers the fact that there is an abnormally high percentage of fruits and vegetables that goes to waste because of the lack of cold-storage facilities. Some estimates say 50 per cent of produce goes to waste and that is a conservative number. The fuel price hike is a straight example of cost push inflation. When OPEC (The Organization of the Petroleum Exporting Countries) was formed, it squeezed the supply of oil and this caused oil prices to rise, contributing to higher inflation. Since oil is used in every industry, a sharp rise in the price of oil leads to an increase in the prices of all commodities. The in depth problems due to inflation would be: When the balance between supply and demand goes out of control, consumers could change their buying habits, forcing manufacturers to cut down production. Inflation can create major problems in the economy. Price increase can worsen the poverty affecting low income household. Inflation creates economic uncertainty and is a dampener to the investment climate slowing growth and finally it reduce savings and thereby consumption. The producers would not be able to control the cost of raw material and labour and hence the price of the final product. This could result in less profit or in some extreme case no profit, forcing them out of business. Manufacturers would not have an incentive to invest in new equipment and new technology. Uncertainty would force people to withdraw money from the bank and convert it into product with long lasting value like gold, artefacts. The imbalances inflation has created in the Indian economy:- It has created a new rich class in social and political lives who are corrupt themselves and also corrupt the overall society. The increased prices reduced the capacity to save and people preferred present consumption to future consumption. It has provided protection and subsides to industries which bred inefficiency. It has lead to misallocation of resources due to distortion of relative prices and finally a redistribution of wealth from the poor to the rich. It disturbs balance of payments. Controlling method Firstly save!!! As much of our money as possible should be saved. This will reduce the demand on the economy and hopefully reduce inflation. Do not overuse daily essentials like cooking gas, electricity etc. Cut down on inessentials when buying groceries. Look for cheaper alternatives to products that we normally buy. Keep roads, highways, sidewalks, etc., beautified to help attract tourism and bring additional monetary into a growing economy. Stop illegal immigration. Illegal activities reap the benefits of the country but dont pay taxes. Government-backed investment schemes such as Post Office Savings Schemes, Public Provident Funds (PPF) and National Savings Certificates (NSC) are best to invest in when inflation is slowly inching up and we are only looking at safety, not returns. Invest in short term deposits and funds, commodities and property. This will help we to slowly reach our financial goals while safeguarding our hard-earned money Objectives To know the impact of inflation on the consumer. To know that consumer decision for purchasing at the time of inflation To know that how consumer manage the daily needs purchase at the time of inflation. To know that how inflation effect the economy To know that how consumers reduce their consumption at the time of inflation. REVIEW OF LITERATURE 1. MEASUREMENT OF CONSUMER GAINS FROM MARKET STABILIZATION. Wright D.Brain and Williams C. Jeffery(3 August 1988)in this article observed that partial equilibrium analysis is appropriate, there is little difference between exact measures of consumer gains from market stabilization and approximations such as expected change in marshallian or hicksian consumer surplus. Careful specification of the nature of stabilization is more crucial than the choice of welfare measure. It is important to represent correctly the demand curvature and supply response and to determine whether general equilibrium responses can be ignored. In any event, an improved analytical approximation and a simple numerical method for calculating the exact measures make it unnecessary to rely on suspect measures. 2. SEARCH, STICKLY PRICES AND INFLATION:- DImoand A.Peter(FEB.1992) in this article observed that equilibrium in a market with free entry where consumers search and firms set prices on individual units of the commodity. The prices attached to newly produced goods are continuously adjusted. Prices attached to previously produced goods can only be changed at a cost. Thus inflation reduces the real price of goods in inventory awaiting sale. The presence of previously priced goods lowers the reservation price of customers. Thus, inflation cuts into the market power created by the need to search for the good. Consumer welfare is inverse $u$-shaped in inflation with a strictly positive optimal inflation rate. 3. Inflation in India during the 80s: An Analytical Review:- Samanta GP (Feb. 19, 1994) in this article observed that Structural constraints play a major role in the movement of the general price level in developing countries like India. Thus the inflationary dynamics in these countries cannot be explained purely as a monetary phenomenon. Even aggregative analysis, taking demand and supply factors along with monetary variables, has been found to be empirically unsatisfactory as quantifying the impact of any one variable on sectoral prices is not easy. This study attempts a disaggregative analysis by considering the structural variables first and then analysing the influence of monetary aggregates on sectoral prices taking into account the time series properties of price indices and specifying the sectoral price equations. 4. How best to model inflation in India:- Balakrishnan pulapre (1 April 2002) in this article observed that Econometric specifications relating to two well-known explanations of inflation are generated and, using data from the Indian economy, the principle of encompassing is brought to bear upon the choice between these. The results are conclusive for two tests, which is itself of interest because we have non-nested models here and the tests could in principle have resulted in each model rejecting the other. It appears then from the past experience of the Indian economy that the policymaker is advised to consider sectoral price behaviour explicitly when attempting to model the inflationary process. 5. COMMODITY PRICES, MONEY AND INFLATION:- Browne Frank and Cronin David (11 April 2007) in this article observed that The influence of commodity prices on consumer prices is usually seen as originating in commodity markets. We argue, however, that long run and short run relationships should exist between commodity prices, consumer prices and money and that the influence of commodity prices on consumer prices occurs through a money-driven overshooting of commodity prices being corrected over time. Using a co integrating VAR framework and US data, our empirical findings are supportive of these relationships, with both commodity and consumer prices proportional to the money supply in the long run, commodity prices initially overshooting their new equilibrium values in response to a money supply shock, and the deviation of commodity prices from their equilibrium values having explanatory power for subsequent consumer price inflation. 6. COMPARING PARTIAL AND GENERAL EQUILIBRIUM ESTIMATES OF THE WELFARE COST OF INFLATION:- Gillman Max (2 July 2007) in this article observed that Reserve banks worldwide have been moving towards zero inflation policies. Confusion clouds the welfare cost of maintaining such inflation policies despite the best attempts at clarification. Monetary theory research has shifted from partial to general equilibrium economies. This shift has left the partial equilibrium estimates of the welfare cost of inflation below most of the general equilibrium estimates. Put on a comparable basis, partial equilibrium estimates compare more closely with the general equilibrium estimates. Furthermore, evidence suggests that integration under the money demand function appears applicable in general equilibrium economies. Finally, the estimates depend on the elasticities of money demand and the underlying structural parameters. 7. Inflation targeting in India: issues and prospects Jha Raghbendra (mar. 2008) in this article observed that evaluation the case for inflation targeting (IT) in India. It states the objectives of monetary policy in India and argues that, with widespread poverty still present, inflation control cannot be an exclusive concern of monetary policy. The rationale for IT is spelt out and found to be incomplete. The paper provides some evidence on the effects of IT in developed and transition economies and argues that although IT may have been responsible for maintaining a low inflation regime, it has not brought down the inflation rate itself substantially and or changed the volatility of the exchange rate. Output movements in transition countries adopting IT have been higher than in developed market economies. I discuss Indias experience with using nominal targets for monetary policy and why India is not ready for IT. Further, even if Indias central bank wanted to, it could not pursue IT because the short-term interest rate does not have a significant effect on inflation. The paper concludes by listing monetary policy options for India. 8. Competition and Price Variation When Consumers Are Loss Averse :- Heidhues, Paul, and Botond Koszegi. (Sept 2008) in this article observed that of price competition with differentiated products by assuming that consumers are loss averse relative to a reference point given by their recent expectations about the purchase. Consumers sensitivity to losses in money increases the price responsiveness of demand and hence the intensity of competition at higher relative to lower market prices, reducing or eliminating price variation both within and between products. When firms face common stochastic costs, in any symmetric equilibrium the mark-up is strictly decreasing in cost. Even when firms face different cost distributions, we identify conditions under which a focal-price equilibrium (where firms always charge the same focal price) exists, and conditions under which any equilibrium is focal. 9. The Misperception of Inflation by Irish Consumers:- David Duffy in this article The Misperception of Inflation by Irish Consumers observed that Perceptions and forecasts of inflation have the potential to impact on a range of economic outcomes. We reveal large, systematic overestimation of inflation by Irish consumers, which varies by social group. In contrast to previous work in this area, our models suggest the upward bias and the variation by social group should be considered substantially separate phenomena. We also offer evidence that inflation misperceptions are linked to attitudes and intentions with respect to consumption and saving and, hence, are likely to affect household decision-making. The findings therefore raise issues regarding the relationship between financial literacy and consumer behaviour. 10. Extracting information on inflation from consumer and wholesale prices and the NKE aggregate supply curve. Goyal Ashima and Tripathi Shruti in this article observed that Since consumer prices are a weighted average of the prices of domestic and of imported consumption goods, and producer prices feed into final consumer prices, wholesale price inflation should cause consumer price inflation. Moreover, there exist a long-term equilibrium relationship between consumer and wholesale price inflation and the exchange rate. But we derive a second relation between the price series from an Indian aggregate supply function, giving reverse causality. The CPI inflation should Granger cause WPI inflation, through the effect of food prices on wages and producer prices. These restrictions on causal relationships are tested using a battery of time series techniques on the indices and their components. We find evidence of reverse causality, when controls are used for other variables affecting the indices. Second, both the identity and the AS hold as long-run co integrating relationships. There is an impor tant role for supply shocks. Food price inflation is co integrated with manufacturing inflation. The exchange rate affects consumer prices. The insignificance of the demand variable in short-run adjustment indicates an elastic AS. There is no evidence of a structural break in the time series on inflation. Convergence is slow, and this together with differential shocks on the two series may explain their recent persistent divergence. ANALYSIS After study on this topic I can understand that the inflation effect the consumer decisions like their consumption decision, saving decision and it effects the future expectation of buying. Inflation always hurts our standard of living. Rising prices means we have to pay more for the same goods and services. If our income increases at a slower rate as inflation, our standard of living declines even if we are making more. Inflations main consequence is a subtle reduction in our standard of living. Inflation doesnt affect everything equally. Gas prices can double while our home loses value. This makes financial planning more difficult. Inflation is really bad for our retirement planning because our target has to keep getting higher and higher to pay for the same quality of life. In other words, our savings will buy less. As a result, we will need to save more today to pay for higher priced goods and services in the future. Since everything we buy today costs more, so we have less left-over income available to save. Inflation has another bad side-effectonce people start to expect inflation, they will spend now rather than later. Thats because they know things will only cost more later. This consumer spending heats up the economy even more, leading to further inflation. This situation is known as spiraling inflation because it spirals out of control. Inflation is important if we are holding bonds or Treasury notes. These fixed price assets only give a fixed return each year. As inflation spirals faster than the return on these assets, they become less valuable. As they become less valuable, people rush to sell them, further depreciating their value. As their value becomes lower, the U.S. government is forced to offer higher interest rates to sell them at all. This increases mortgage interest rates. We should be wary, in this post, about cost-push inflation. With wages increasing and input prices (thanks to oil/petrol/gasoline) increasing, prices consumers pay have to increase with the costs-of-production. In turn we demand higher wages, and with a squeezed supply of labour we can get them, sending prices higher still. In the graph nicked from the textbook use, example economy has expanded beyond potential real GDP (i.e. Full Employment). In the labour market this means more jobs than people (keeping it simple), driving up wages. In the consumer market it means more demand than supply, driving up prices, which drive up wages do you see the spiral? In fact our economy will not sustain unemployment below the Non-Accelerating Inflation Rate of Unemployment. Thus we end up back at Full Employment in the graph, inexorably, but along the way weve picked up positive inflation. METHODOLOGY The methodology used was secondary research. Data and findings from the research papers and articles of other people was selected and reviewed. Brief review of all the articles and papers studied has been given in the Review of Literature. These all articles were studied deeply to gather maximum knowledge of the Report on the topic Inflationary incidence on consumer equilibrium. Though no research has been done on the comparative Analysis of inflationary incidence on consumer equilibrium but this paper collected data from the news articles available from different sources. CONCLUSION After study this topic I found that Inflation directly affected to consumer equilibrium. At the time of inflation increases the prices of commodities increases which reduce the purchasing power of the consumers, and consumers have to reduce the consumption. Inflation has another bad side-effectonce people start to expect inflation, they will spend now rather than later. Thats because they know things will only cost more later. This consumer spending heats up the economy even more, leading to further inflation. This situation is known as spiraling inflation because it spirals out of control. After study this topic I found there are some advantage and disadvantage of inflation. Advantages People feel richer (money illusion). Unexpected inflation benefits borrowers Could be from extra growth in the economy or extra money which would lead to lower unemployment rates. If prices rise, then a currency devalues which would lead to growth in the export sector. Disadvantages Lower retain-able income due to higher expenditure. Expensive loans burdening those who have taken loans on floating rate and also shelving or postponing plans of many to most people. Increase in raw materials might further increase prices such that a lower inflation number overall does not really mean lower price of final goods. There is problem of complacency with increase of fuel price auto prices have gone up. Even if the prices come down later does anyone think that the prices will be revised downwards.

The background and role of inventory in accounting

The background and role of inventory in accounting Introduction International accounting standard No.2 (IAS2) Inventory gives the rules which should be followed during the recording and presentation of inventory. Inventory refers to goods which are held by a firm for sale, are in the production process or are materials which will be consumed in the production process or in giving out of services. This standard does not apply to financial instruments and it gives out a guideline on how to measure an asset which is categorized as an inventory, which concept constitute of the cost and at what time an expense occurs and the information that should be disclosed while preparing the financial statements (International Accounting Standards Board, 2008, p.977). History In the year 1974 during the draft of standard, the name was changed to inventories from valuation and presentation of Inventories in the Context of the Historical Cost System the first draft was affected on 1st of January in the year 1995 and this was 21 years after the first draft exposure. On 18th of December 2003, the standard was revised and took effect as from the strart of January 2005. In the year 2003, there was a revised IAS 2 whereby different cost formulas for inventories were incorporated into the standard. These were superseded from SIC 1 on consistency. On December 1997, SIC 1 was issued and was effective as from 1st January 1999. sic 1 required that that the same cost formula was to be used for inventories with the same characteristics under IAS 2.21 AND IAS 2.23. in that case, different methods may be used where inventory items were different from other groups (International Accounting Standards Board, 2008, p.978). SIC stands for Standing International Committee (SIC), and it was renamed to International Financial Reporting Issues Committee (IFRIC). some of the issues in SIC were not added in IFRICs Agenda. This are as follows: IAS 2 Cash Discounts The question was whether cash discounts received should be subtracted from the cost of goods purchased. A decision was made in august of the year t 2002 that they should not be added. The reason given by IFRIC was that paragraph 8 of IAS 2 provided enough guidance and thus it was not necessary to publish on the interpretation on the issue. IAS 2 Consumption of inventories by service organizations The problem was on how to treat net realizable value when the inventory is consumed as part of the service rendered. A decision was made in the march of 2004 that it should not be added. It was noted that it existed for commercial bodies. It was thus concluded that the matter involved the recoverability of an asset which did not have a direct cash flow. IAS 2 Discounts and rebates In this part, three questions were considered, first, should the discount received for prompt payment of invoice be reduced from the cost of the inventories or seen as financing income? Second, should all other rebates be reduced from the cost of inventories or treat some of them as revenue or reduction in promotional expenses, lastly, if volume rebates should be given a recognition only when threshold volumes are achieved. The decision arrived at on November 2004 was not to add. Objective of IAS 2 IAS 2 has the objective of of prescribing how inventories should be treated in accounting. It provides a guideline on how to look for the cost of inventories and how to recognize an expense including any depreciation to net realizable value. It provides the formulas that should be used to assign costs to inventories. The conclusion is that, inventories should be measured at the lower between net realizable value and cost (Nikolai, Bazley, And Jones, 2009, p.80). Net realizable value refers to the estimated selling price in the course of normal business less the costs estimate for completing and the estimated costs required to finish the selling activity. The cost of inventory on the other hand shall comprise of all the costs of purchase, conversion in addition to other costs which are incurred in making the conditions to be in their present condition and into their present location. The standards require that the first in first out method is used in assigning the cost of inventories or the weighted average method. The same cost formula should be used by a firm for all similar stock and stock that has the same use to the firm. Where the inventories might have different use or are of different nature, different cost formulas can be used (Nikolai, Bazley, And Jones, 2009, p.80). Where inventory is sold, the expenses incurred during the sale of the inventory shall be seen as an expense in that period when the expense occurred. Amount realized from any reversal of a write-down in inventories coming up from a rise in net realizable value shall be treated as a reduction in amount of inventories recognized as an expense in the time or period when that reversal took place. Rationale The rationale for IAS 2 is to ensure that accounting for inventories is done in a manner which leads to the representation of the true value of the available inventory. It ensures that frequent research is done on how to present inventory in the financial statements. Measurement, presentation and disclosure details There are several items which need to be disclosed in the financial statements concerning inventory. One of the items that need to be disclosed includes the accounting policies that were adopted while giving value to the inventories. This includes the formula used to value the stock. In other words, the financial report should state whether first-in, first-out method was used or weighted average method was used. Secondly, the reports should show the total carrying amount for the inventories and they should be put into a classification which the entity feels fit. Thirdly, the carrying amount for the inventories that may be accounted for basing on their reasonable value minus the sale costs should also be clearly shown by the financial statement. The fourth thing that should be disclosed is the level of inventories recognized as an expense in that certain period. Following this, the level of inventory write-downs which might have been seen as an expense in the financial period should be shown. After this, the level of reversals for the previous value write-downs which may have been achieved as a reduction in the amount of the expense on account of the periods inventories. The activities which led to reversal should also be listed and finally, the carrying amount of inventories used as security for debt payment should also be shown (Barry and Eva, 2008, p.27). Comparison with US GAAP (inventory) As mentioned, IAS is an initioal for International Accounting Standards and it represents a set of accounting standards which are set by the international Accounting standards committee (IASC) which is in London, England. IASC has several bodies with the main one being the international Accounting Standards Board (IASB). IASB is responsible for setting standards for IASC. On the other hand, GAAP is an acronomy for Generally Accepted Accounting Principles. IASC is not responsible for setting GAAP and it thus does not have any legal authority over it. IASC can be thus be seen as an influential body which makes accounting rules. Many people listen to what IASB and IASC say on accounting matters (Barry, Nach, and Bragg, 2009, p.1337). When an accounting rule is set by IASB, several countries consider the rule and adopt it into its accounting system. The rules thus will eventually influence of what each country adopts as its GAAP. To understand what GAAP is better, we can say that it is a set of rules which accountants follow in their countries as each country has its own GAAP. There are however not much differences in GAAP between countries although their interpretations may vary between different countries. In the United States, there is the Financial Accounting Standards Board (FASB), and this make up the rules which eventually become GAAP for the country. Example from annual reports An example of an annual report which shows the usage of IAS 2 inventory is shown in the appendix. The report shows the consolidated financial statements for Prestige Brands Holdings, Inc. which is a distributor and marketer of brand name through the counter drug, personal and household products which are sold through Canada, U.S. and other international markets. Discussion In the consolidated financial statements for the mentioned company, the first requirement for the IAS 2 has been met whereby the accounting policy that was used has been mentioned The reports states that the inventories have been stated at the lower of between the fair value and cost. The report has gone further to mention that the first-in, first-out method was used in valuing the inventory. The reports have explained that the company provides allowance for the goods which are slow moving and inventory which has become obsolete through the reduction of inventory for fall in value due to the obsolescence of products, damage and any other issues which might be affecting the marketability, equal to the difference that might exists between the cost of the inventory and its market value. Another thing that the report discloses is the factors which have been utilized in the determination of estimated market value and they include; current sales data and historical return rates, the estimates for demand in future, the competitive pricing pressures, introduction of new production, expiration dates of products and obsolescence of components and packaging.

Essay --

In the book, Refusing the Favor, Deena J. Gonzalez investigates how the lives of Spanish-Mexican women in Santa Fe were affected when the United States colonized northern Mexico between the early and late 19th century. Her work focuses on the cultural contrast among the Euro-Americans and the Spanish-Mexicans in the area. Gonzalez analyzes the histories of women of the period through the lens of those who would bestow upon them "the favor" of colonialism. Hence, she indicates her position through the title of her book. She illustrates how female inhabitants of the defeated territory resisted and scorned the newly arrived powerful Anglo immigrants. She shows how women's responses to the conquest were extremely diverse and illustrates their efforts to preserve their culture. Much of her work focuses on the economic effects and cultural responses to the process of Americanization that took place in New Mexico after the United States took control of the territory. The author challenges the generally accepted history of the United States that has largely put forth that the U.S. conquest was "painless" and beneficial to Spanish-Mexicans in Santa Fe. New Mexico, long before the United States took over, always had a degree of "Spanish character". Her work focuses on Santa Fe which was one of the largest cities west of the Mississippi and oldest of all the territories of the Provincias Internas that opted to stay with Mexico in 1821. In 1846 the land was invaded and conquered by the United States. Much of her interpretation is on the lives of women in the capital city utilizing a range of sources, from travel literature, newspapers, wills, deeds, court records, Catholic Church Archives, Property Census records, and Spanish written sourc... ...zalez 72). Although about half of the Euro-American men in Santa Fe lived with Spanish-Mexican women by 1850, these unions included only several hundred of some four thousand Spanish-Mexican women and were therefore less significant from the perspective of Spanish-Mexican residents (Gonzalez 74). Gonzalez is an author with a mission: she wants to reverse traditional historiographical interpretations about the West, and specifically New Mexico. She wants to give life to the lifeless voices of women who lived in the era. It appears that Gonzalez's primary motive in writing Spanish-Mexican women into the history of U.S. conquest appears to show how the women of Santa Fe were affected and how they overcame a challenging systems which reshaped their lives. In the end, the author successfully achieves her goal of rescuing the voices of New Mexican Spanish Mexican women.

Queen Elizabeth and Annabella in Tis Pity Shes a Whore by John Ford Es

Queen Elizabeth and Annabella in "Tis Pity She's a Whore" by John Ford Annabella, the female protagonist in John Ford’s play, ‘Tis Pity She’s a Whore, ultimately dies after trying to meet the conflicting demands that her brother and father place on her. While her brother, Giovanni, commands her to be his clandestine lover, her father, Florio, expects her to marry a socially appropriate man and bear a child. These demands closely resemble the real-life demands that Queen Elizabeth I’s subjects placed on her because they simultaneously wanted her to fulfill their erotic desires, marry a politically appropriate man, and produce an heir to the throne. Ford’s play â€Å"was first published in 1633,† thirty years after the death of Queen Elizabeth I, but â€Å"nostalgia†¦ in the late 1620’s and 1630’s†¦ [drove] people†¦to measure a worsening political situation against inevitably heightened memories or impressions of what life had been like under the great queen† (Morris vii; B arton 724). While it’s not clear whether this nostalgia for the reign of Elizabeth drove Ford when he wrote his play, there are clear parallels between the demands that were placed on the factual Elizabeth and on the fictional Annabella; moreover, there are striking parallels between the responses to the two women’s deaths. Both women were expected to forever remain objects of male erotic desire, and the characteristics of Elizabeth that evoked erotic desire in her subjects parallel the characteristics of Annabella that elicit erotic desire in Giovanni. Just as â€Å"courtiers paid homage to Elizabeth as an ever-youthful yet unapproachable object of desire[,]† Giovanni confesses to Annabella, â€Å"[T]he view / Of thy immortal beauty hath untuned / All harmony both... ...bbory, Achsah. â€Å"’Oh, Let Mee Not Serve So’: The Politics of Love in Donne's Elegies.† ELH 57.4 (1990): 811-833. King, John N. â€Å"Queen Elizabeth I: Representations of the Virgin Queen.† Renaissance Quarterly 43.1 (1990): 30-74. Morris, Brian. Introduction. ‘Tis Pity She’s a Whore. By John Ford. Ed. Brian Morris. London: Black, 1992. vii-xxvii. Mullaney, Steven. â€Å"Mourning and Misogyny: Hamlet, The Revenger's Tragedy, and the Final Progress of Elizabeth I, 1600-1607.† Shakespeare Quarterly 45.2 (1994): 139-162. â€Å"Promiscuous, a.2a.† Oxford English Dictionary. 1989 Second ed. OED Online. Oxford University Press. 8 May 2005 . Rose, Mary Beth. â€Å"The Gendering of Authority in the Public Speeches of Elizabeth I.† Publications of the Modern Language Association of America 115.5 (2000): 1077-1082.

Mind and True Feelings Essay

In the book Grendel, the author made the decision to use the character Grendel as the narrator. He knew that the readers would understand more about Grendel’s feelings. To know the real Grendel, you need to read it from his point of view, not anyone else’s. The story made more sense because it was written in stream of consciousness. Stream of consciousness means that the author writes down everything that he is thinking. In Grendel we got to read everything from his heart, his true feelings about everything. The story would have been really different if we hadn’t gotten to see who he was and what he was all about. Grendel from the book was a totally different Grendel from Beowulf. In Beowulf we see Grendel as an evil monster that wanted to kill everyone and had no feelings. But we know that he did have true feelings for people and for himself. â€Å"My head aches† (page 13), is an example of something we would have never known by watching the movie. We also know that he cared deeply about his mother and other people. We also would have never known that he was actually very intelligent and could speak. â€Å"I sobbed as if heartbroken† (page 19). We know that he had a heart; a real monster wouldn’t have a heart. He was sad because he didn’t have the life that he wanted; everyone was happy but he wasn’t. With everything that we know about Grendel and his feelings is all stuff that we learned from the book, not from the movie. The movie basically told us the opposite of what was true about him. We would have never known this stuff if the author wouldn’t have written in the stream of consciousness. Grendel had many feelings that we did not know about in Beowulf that we learned about in the book. In the movie we got the idea that he was a horrible monster who didn’t care about anything or anyone. Beowulf told the story from the dans point of view not Grendel’s. So by John Gardner choosing to use stream of consciousness we really saw who Grendel was. Grendel seems way more human in the book rather than the movie. â€Å"I laughed my ankle was numb; my leg was on fire to the hip† (page 21). Only a real human could feel pain and sorrow like that. Everyone hated him and wanted him dead because they thought he was such a horrible monster, but he couldn’t help it. He didn’t pick the way he looks; that’s just how he was created. In the end, he was just in so much pain he didn’t know what to do with his life anymore. So that’s why I’m happy that the author choose this form of writing because we understood who he was and what he was. Not just some monster who wanted to kill everyone. If the Danes could have seen him like we did I think that that would have changed their whole look about him. Those are all the reasons why I think that the stream of consciousness was a way better form of writing rather than formal writing. This is also why I think that we see Grendel more human than monster and understood him better. I sympathize him more this way and feel sorry for him because everyone hated him for the way that he looked. I think the author choose this way because he knew that we would understand him more. That’s why if he would have chosen formal writing everything would have been more confusing and hard to understand.

Ap Bio Work

Label the seven repertories illustrated here, and give a different example of each. Enter answer here Evolutionary Adoption Enter answer environment Response to the here Enter answer Order here Regulation Energy Processing Enter & Development Concept 1. 1 Themes connect the concepts of biology 2. What are emergent properties? Give two examples. Properties that are not present at the preceding level. Reproduction 3. Life is organized on many scales. Figure 1. 4 zooms you in from viewing Earth from space all the way to the level of molecules. As you study this figure, choose the correct label for each picture. Exosphere ecosystem ell organism organelle community tissue molecule population 4. Our study of biology will be organized around recurring themes. Make a list here of the themes that are presented, and give an example that illustrates each theme. Watch for these themes throughout your study this entire year. This will help you see the big picture and organize your thinking. (Go t o the Summary of Key Concepts at the end of the chapter for a concise look at the themes. ) Theme 1 Example Organisms Interact with other organisms and the Physical Environment The leaves of a tree, for example, absorb light from the sun, Theme 2:Life requires energy transfer and transformation Theme 3: Theme 4: A fundamental characteristic of living organisms is their use of energy to carry out life's activities. Theme 5: Theme 6: Theme 7: (Find it in 1. 2. ) Concept 1. 2 The Core Theme: Evolution accounts for the unity and diversity of life 5. Life is organized into groups. Study Figure 1. 14. Which level contains the greatest diversity of organisms? The least? 6. Taxonomy is the branch of biology that names and classifies organisms. Because of new molecular information, there have been many changes in placement of certain groups in recent years.Notice that all life is now organized in your text into 3 domains rather than the 5 kingdoms you may have learned earlier. Choose the kin gdoms mentioned in the text in the space above the proper domain names shown here. Mammalian Protests 7. What two main points were articulated in Darning's The Origin of Species? 8. What did Darwin propose as the mechanism of evolution? Summarize this mechanism. Are the two main types of scientific inquiry? Give an example of each. 10. What is the difference between deductive and inductive reasoning? Is either used by scientists? 1 1 .Distinguish between quantitative and qualitative data. Which type would be resented in a data chart and could be graphed? Which type is found in the field sketches made by Jane Goodwill? 12. In science, how do we define hypothesis? 13. A scientific hypothesis has two important qualities. The first is that it is testable. What is the second? 14. Look at Figure 1. 24. Use it to write a hypothesis using the â€Å"If .. . Then .. .† Format. 15. What is a controlled experiment? 16. The text points out a common misconception about the term â€Å"cont rolled experiment†. In the snake mimicry experiment, what factors were held constant? 7. Explain what is meant by a scientific theory by giving the three ways your text prepares a theory from a hypothesis or mere speculation. Chapter 2: The Chemical Context of Life 2. 3. This chapter covers the basics that you may have learned in your chemistry class. The questions that follow should help you focus on the most important points. Matter element trace element neutron atomic number atomic mass energy polar covalent bond anion compound proton isotope electronegative action dynamic equilibrium essential element electron electron shells monopoly covalent bond hydrogen bond Concept 2. Matter consists of chemical elements in pure form and in combinations called compounds 1. What four elements make up 96% of all living matter? Concept 2. 2 An element's properties depend on the structure of its atoms 2. Below is a model of an atom of helium, correctly label the electrons, protons, neutro ns, and atomic nucleus. 3. What is the atomic number of helium? Its atomic mass? 4. Consider this entry in the periodic table for carbon. What is the atomic mass? Atomic number? How many electrons does carbon have? Neutrons? 5. What are isotopes? Use carbon as an example. 6.Explain radioactive isotopes and one medical application that uses them. 7. Which is the only subatomic particle that is directly involved in the chemical sections between atoms? 8. What is potential energy? 9. Explain which has more potential energy in each pair: a. Boy at the top of a slide/boy at the bottom electron in the third energy shell the chemical behavior of an atom? B. electron in the first energy shell/ c. Water/glucose 10. What determines a. How many valence electrons does it have? B. How many protons does it have? Concept 2. 3 The formation and function of molecules depend on chemical bonding between atoms 12.Now, refer back to your definition of a compound and fill in the following chart: Molecule ? (y/n) Compound? (y/n) Molecular Formula Water Carbon dioxide Methane Structural Formula 02 13. What type of bond is seen in 02? Explain what this means. 14. Choose the correct labels for the electron distribution diagram of water. Which element is most electronegative? Molecule? Why is water considered a polar (This is a very important concept. Spend some time with this one! ) 15. Another bond type is the ionic bond. Explain what is happening in the figure below (2. 14): 16. What two elements are involved above? 17.In the preceding example, which is the anion? 18. Indicate where the hydrogen bond occurs in this figure. Hydrogen 19. Here is a list of the types of bonds and interactions discussed in this section. On the chart: hydrogen bonds, van deer Walls interactions, covalent bonds, ionic bonds. Van deer Walls interactions 20. What is the biological importance of weak bonds? 21 . Use morphine and endorphins as examples to explain why molecular shape is crucial in biology. Concep t 2. 4 Chemical reactions make and break chemical bonds 22. Write the chemical shorthand equation for photosynthesis. Label the reactants and the products. 23.For the equation you Just wrote, how many molecules of carbon dioxide are there? How many molecules of glucose? How many elements in glucose? Chapter 3: Water and the Fitness of the Environment polar molecule specific heat solute pH cohesion evaporation hydrophilic acid adhesion solvent hydrophobic base Concept 3. 1 The polarity of water molecules results in hydrogen bonding 1. Why is water considered polar? 2. How many hydrogen bonds can a single water molecule form? Concept 3. 2 Four emergent properties of water contribute to Earth's fitness for life Hydrogen bonding accounts for the unique properties of water. Let's look at several.Cohesion 3. What is demonstrated when you see beads of water on a waxed car hood? Calorie solution military . Which property explains the ability of a water strider to walk on water? Moderation o f Temperature 5. Water has high specific heat. How does water's specific heat compare to alcohol's? 6. Explain how hydrogen bonding contributes to water's high specific heat. 7. Summarize how water's high specific heat contributes to the moderation of temperature. How is this property important to life? 8. What is heat of vaporization? Explain at least three effects of this property on living organisms. Expansion upon Freezing 9. Ice floats!So what? Consider what would happen if ponds and other bodies of water accumulated ice at the bottom. Describe why this property of water is important. 10. Now, explain why ice floats. Why is ICC the critical temperature in this story? Solvent of Life 1 1 . Consider coffee to which you have added sugar. Which is the solvent? The solute? 12. Explain why water is such a fine solvent. 13. You already know that some materials, such as olive oil, will not dissolve in water. In fact, oil will float on top of water. Explain this property in terms of hyd rogen bonding. 14. Now, let's do a little work that will enable you to prepare solutions.Read the section on solute concentrations carefully, and show the calculations here for repairing a I-molar solution of sucrose. Steps to help you do this follow. The first step is done for you. Fill in the rest. Steps to prepare a solution: a. Write the molecular formula. B. Use your periodic table to calculate the mass of each element. Multiply by the number of atoms of the element. (For example, O has a mass of 16. Therefore one mole of O has a mass of 16 x 11 = 176 g/mole. ) masses of each element in the molecule. C. Add the d. Add this mass of the compound to water to bring it to a volume of 1 liter.

An Essay on the History of Pickles

Let us commence a journey into the much travelled topic of history of pickles. In depth analysis of history of pickles can be an enriching experience. While it is becoming a hot topic for debate, spasmodically it returns to create a new passion amongst those who study its history. Since it was first compared to antidisestablishmentarianism much has been said concerning history of pickles by socialists, obviously. In the light of this I will break down the issues in order to give each of them the thought that they fully deserve Social FactorsSociety is a simple word with a very complex definition. Back when Vealinger reamarked ‘the power struggle will continue while the great tale of humanity remains untold’ [1] he failed to understand that if one seriously intends to ‘not judge a book by its cover', then one must read a lot of books. Much has been said about the influence of the media on history of pickles. Observers claim it is crunchy on the outside but soft in t he middle. Did I mention how lovely history of pickles is? It is intrinsically linked to adolescent inner acclimatisation. Economic FactorsIs unemployment inherently bad for an economy? Yes. We will primarily be focusing on the Custard-Not-Mustard model, making allowances for recent changes in interest rates. Inflation history of pickles It is apparent from the graph that the influence of history of pickles is strong. What is the secret to its strength? Of course inflation, ultimately decided by politicians, will always be heavily influenced by history of pickles due to its consistently high profile in the portfolio of investors. Supply Side Economic Tax Cuts Tax deductions could turn out to be a risky tactic. Political FactorsPolitics has in some areas been seen to embrace an increasing ananiathesis of intergovernmentalism leading to neo-functionalism. Placing theory on the scales of justice and weighing it against practice can produce similar results to contrasting 0 In the words of that most brilliant mind Augstin Lionel Forbes Dickinson ‘political change changes politics, but where does it go? ‘ [2] This quotation leads me to suspect that he was not unaccustomed to history of pickles. It speaks volumes. If I may be as bold as to paraphrase, he was saying that ‘political ideals are built on the solid cornerstone of history of pickles. Where do we go from here? Only time will tell. Conclusion In conclusion, history of pickles plays a large part in the lives of all. It brings peace, puts out ‘fires', and figures show it's a winning formular. I'll leave you with this quote from Demi Lopez: ‘I wouldn't be where I am today without history of pickles. ‘ [3] [1] Vealinger – Turtle Power – 2003 ICJ [2] Dickinson – I Am The Dickinster – 1999 Hughs Books [3] Everything you always wanted to know about history of pickles, but were afraid to ask. – Issue 287 – QKS Publishing

Corporate Finance

1. Which one of the following is a means by which shareholders can replace company management? A. stock options B. promotion C. Sarbanes-Oxley Act D. agency play E. proxy fight 2. Decisions made by financial managers should primarily focus on increasing which one of the following? A. size of the firm B. growth rate of the firm C. gross profit per unit produced D. market value per share of outstanding stock E. total sales 3. Which one of the following is the financial statement that shows the accounting value of a firm's equity as of a particular date? A. income statement B. creditor's statement C. balance sheet D. statement of cash flows E. dividend statement4. Which one of the following is the financial statement that summarizes a firm's revenue and expenses over a period of time? A. income statement B. balance sheet C. statement of cash flows D. tax reconciliation statement E. market value report5. The percentage of the next dollar you earn that must be paid in taxes is referred to as the _____ tax rate. A. mean B. residual C. total D. average E. marginal EDCAE6. The cash flow of a firm which is available for distribution to the firm's creditors and stockholders is called the: A. perating cash flow. B. net capital spending. C. net working capital. D. cash flow from assets. E. cash flow to stockholders.7. Canine Supply has sales of $2,200, total assets of $1,400, and a debt-equity ratio of 0. 3. Its return on equity is 15 percent. What is the net income? A. $138. 16 B. $141. 41 C. $152. 09 D. $156. 67 E. $161. 548. Beach Wear has current liabilities of $350,000, a quick ratio of 1. 65, inventory turnover of 3. 2, and a current ratio of 2. 9. What is the cost of goods sold? A. $980,000 B. $1,060,000 C. $1,200,000 D. $1,400,000 E. 1,560,0009. The sustainable growth rate of a firm is best described as the: A. minimum growth rate achievable assuming a 100 percent retention ratio. B. minimum growth rate achievable if the firm maintains a constant equity multiplier. C. maximum growth rate achievable excluding external financing of any kind. D. maximum growth rate achievable excluding any external equity financing while maintaining a constant debt-equity ratio. E. maximum growth rate achievable with unlimited debt financing.10. The internal growth rate of a firm is best described as the: A. inimum growth rate achievable assuming a 100 percent retention ratio. B. minimum growth rate a chievable if the firm maintains a constant equity multiplier. C. maximum growth rate achievable excluding external financing of any kind. D. maximum growth rate achievable excluding any external equity financing while maintaining a constant debt-equity ratio. E. maximum growth rate achievable with unlimited debt financing. DEDDC11. What is the present value of $1,100 per year, at a discount rate of 10 percent if the first payment is received 6 years from now and the last payment is received 28 years from now? A. $6,067. 36 B. $6,138. 87 C. $6,333. 33 D. $6,420. 12 E. $6,511. 0812. The current yield is defined as the annual interest on a bond divided by which one of the following? A. coupon B. face value C. market price D. call price E. dirty price13. Currently, the bond market requires a return of 11. 6 percent on the 10-year bonds issued by Winston Industries. The 11. 6 percent is referred to as which one of the following? A. coupon rate B. face rate C. call rate D. yield to maturi ty E. interest rate14. Big Falls Tours just paid a dividend of $1. 55 per share.The dividends are expected to grow at 30 percent for the next 8 years and then level off to a 7 percent growth rate indefinitely. What is the price of this stock today given a required return of 15 percent? A. $67. 54 B. $69. 90 C. $72. 47 D. $77. 67 E. $78. 1915. Hardwoods, Inc. is a mature manufacturing firm. The company just paid a $10 dividend, but management expects to reduce the payout by 9 percent each year, indefinitely. How much are you willing to pay today per share to buy this stock if you require a 15 percent rate of return? A. $34. 79 B. $37. 92 C. $38. 27 D. $41. 33 E. $42. 09 ACDDB Corporate Finance Consider a project to produce solar water heaters. It requires a $10 million investment and offers a level after-tax cash flow of $1. 75 million per year for 10 years. The opportunity cost of capital is 12 percent, which reflects the project's business risk. Suppose the project is financed with $5 million of debt and $5 million of equity. The interest rate is 8 percent and the marginal tax rate is 35 percent. The debt will be paid off in equal annual installments over the project's 10-year life. A) Calculate APV.APV = NPV + PV of debt tax shield NPV = PV of cash flows – initial investment Initial Investment 10,000,000 Cash flows 1,750,000 Period 10 years Discounting rate12% PV of cash flows 9,887,890 using the PV function NPV (112,110) We now calculate the PV of debt tax shield Year Debt Outstanding at Start of Year InterestInterest Tax ShieldsPresent Value of Tax Shields 1 5,000,000 400,000 140,000 129,630 2 4,500,000 360,000 126,000 108,025 3 4,000,000 320,000 112,000 88,909 4 3,500,000 280,000 98,000 72,033 3,000,000 240,000 84,000 57,169 6 2,500,000 200,000 70,000 44,112 7 2,000,000 160,000 56,000 32,675 8 1,500,000 120,000 42,000 22,691 9 1,000,000 80,000 28,000 14,007 10 500,000 40,000 14,000 6,485 Total 2,200,000 770,000 575,736 NPV (112,110) PV of debt tax shield 575,736 APV 463,626 B) How does APV change if the firm incurs issue costs of $400,000 to raise the $5 million of required equity? With flotation cost , APV = NPV + PV of debt tax shield – flotation cost Flotation cost 400,000 APV 63,626 Corporate Finance There is nothing like optimum capital structure for a firm. The Optimal Capital structure is that Capital Structure at which the weighted Average cost of capital (Ko) is Minimum. It is that combination of Equity and Debt at which the total cost of capital is mini-mum. Trade-off theory argues that there's an optimal amount of debt of each firm. At this level of debt, firms can take the most advantage of debts. Debts can be tax shield so that they can save money for firms to reinvest in other projects so as to earn more profits.However, debts can be quite dangerous because highly leveraged firms may face bankruptcy and financial distress costs (no matter they're direct or indirect) may increase the cost of debt of the company. Therefore, there must be a level of debt that make the benefits of debt and potential danger of debt offset each other. In another word, the marginal revenue of debt equals the marginal cost of debt. But remember, the real cases are not as easy as we put here.Whe n a firm procures funds from investors or owners, there will be an explicit or implicit promise to pay return to them. The return is paid in terms of interest which is compulsory paid to all investors and owners, but the return paid to owners in the form of dividends is optional. The dividend decision by any firm, like the investment and financing decisions is also taken for maximization of market price of the share.The term dividend refers to that the portion of profit (after tax) which is distributed among own-ers/shareholders of the firm and the profit which is not distributed is called as retained earnings Dividend Payout Ratio is determined by the dividend policy adopted by the company, and it is im-plemented to decide about the percentage of profits to be distributed by the firm to its own-ers/shareholders. Dividend is always depends on the total profit that a firm acquired after taxes. There are a few factors that affect the Dividend policy of a company.They are Liquidity , G rowth Plans and Control Dividend Payout Ratio is also called as DP Ratio which is a mathematical value as DP Ratio = Dividend paid to the Shareholders / Net Profit after tax. Capital Structural Theories Capital structural theories are designed with a concept of valuation of the firm; it is the earnings of the firm and the investments made by the firm. Capital Structural Theories also used to find the dividend pay-out for its owners/shareholders. Cost of the capital, investment and return on investment (ROI) are a part of dividend policy.The relationship between leverage cost of capital and the value of the firm can be analysed in different ways. Factors determining Capital Structure are minimization of risk, control, flexibility and the profitability of the firm. A firm's capital structure is a combination of the firm's liabilities (debts) and the assets (equity and profits). For Example: A firm with 100 billion as capital structure has 40 billion from equity (shareholders and owner s) and the 60 million as debt (Loans and Funding), then the firm is said to be 40% – equity fi-nanced and 60% – debt financed. . Traditional Theories Net Operating Income (NOI) approach is just an opposite of NI approach. According to the NOI ap-proach, the market value of the firm depends upon the net operating income or profit and the overall cost of capital. NOI approach is based on the argument that the market values the firm as a whole for a given risk complexion. Thus, for a given value of the firm remain the same irrespective of the capital composition and instead on the overall cost of capital.Mathematically Net Operating Income (NOI) is Value of the Firm = Earnings before Tax / Cost of Equity Capital Net Operating Income approach says that an increase in debt proportion of the capital source will always result in increase of the equity proportion of the firm. Modigliani-Miller Model Modigliani-Miller model which was presented in the year of 1958 on the relatio nship of leverage, cost of capital and the value of the firm. This is widely used capital structure method to analyze the value of the firm.They have shown that the financial leverage doesn't matter and the cost of capital and the value of the firm are independent of the capital structure. Modigliani-Miller methods show that there is nothing which may be called as Optimal Capital Structure – to get high valuation of the firm. Modigliani-Miller model is based on following assumptions: 1. The capital markets are perfect and complete information is available to all the investors free of cost. The implication of this assumption is that investors can borrow and lend funds at the same rate and can move quickly from one security to another, 2.Securities are infinitely divisible; Investors are rational and well informed about the risk-return of all the securities. Modigliani-Miller model says that the total value of the firm is equal to the capitalized value of the operating earnings of the firm. The capitalization is to be made at a rate appropriate to the risk class of the firm. Growth Plans, are involved in capital structural theories in which a certain amount will be allocated for the growth plans. A finance manager should draw a plan according for the dividend policy.For Example: The firm has $10 million as equity capital and $6 million as debt capital and the firm made a profit (after tax) of $2 million, and the fund allocated to the growth plan was $1 million. For suppose there are 10,000 shareholders in the company and as per capital structural theories some amount will be allocated for the liquidity that is five hundred thousand and the remaining amount should be distributed as Dividends. In this case each shareholder or the owner will receive $50 as dividend.Capital structural theories say that if a firm is in profit and it is looking to expand the business, the profit can be rolled over to the investment option. In this case there will be no dividend s or bonuses issued to the shareholders or the owners. For Example: Low-payout consequences, which is done when the cash gets accumulated the finan-cial manager may be tempted to take on more projects that do don't meet the minimum rate of return investments. If a firm has $1 million as operating income with 1000 shareholders and firms adopts to take new projects with the profit.Then this may cause unrelated relationship balances between the share-holders and the management of the firm. Optimal Capital Structure: Even though Modigliani-Miller Model says that there is nothing like Opti-mal Capital Structure, but the non-traditional methods say that a firm can attain profits only by im-plementing Optimal Capital Structure. Some firms adopt this capital structure to minimize the risk, flexibility on the investments and the profitability.The finance manager should be able to identify that optimal point (profit point) for the firm precisely, but not to attempt to track the optimal range for the capital structure. Optimal Capital Structure differs from different firms, Existing Firm and a New Firm. For Example: Existing Firm may require additional capital funds for meeting the requirements of growth, expansion, and diversification or even for working capital management. The decision for a particular source of funds is to be taken in the totality of capital structure, i. e. n the light of the re-sultant capital structure after the proposed issue of capital or debt. The Capital Structure of the new firm is designed in the initial stages of the firm and the financial manager has to take care if many considerations, the present capital structure be designed in the light of a future target capital structure. Future plans, growth and diversifications strategies should be considered and factored in the analysis, so optimal capital structure greatly influences the divi-dend policy of any firm, depending upon there capital structure.Broadly speaking the dividend policy can b e determined by two basic analyses required to find the valuation of the proposed capital structure of the firm, i. e. one from the point of view of profitability and another from view of liquidity. Capital structure will always determine the profits of the firm and the development of the firm. Equity and Debt capital are well managed by the capital structure of the firm. A well designed capital structure will have a very good impact on the dividend policy of the company.