Share Capital

? Offer CAPITAL Share capital is the Funds brought by giving offers up as an end-result of money or different contemplations. The measure of offer capital an organization has can change after some time in light of the fact that each time a business offers new offers to people in general in return for money, the measure of offer capital will increment. Offer capital can be made out of both normal and favored offers. Each offer conveying a vote in the administration of the business, administrative control might be constrained. The approved capital of an organization is the greatest measure of offer capital that the organization is approved by its sacred reports to issue to shareholders.Issued Capital is the estimation of the offers gave to investors. This implies the ostensible estimation of the offers instead of their real worth. The measure of gave capital can't surpass the mount of the approved capital. Sorts of Share Capital:- Redeemable Shares Ownership shares that the giving busi ness may repurchase. Some redeemable offers are compulsorily redeemable and must be repurchased by the guarantor on a specific date or on the event of a predetermined occasion, for example, the passing of a proprietor. Inclination SharesPreference shares vary from normal offers in giving the holder special rights to get a portion of yearly benefits. A common profit can't be delivered except if all inclination profits due have been come up with all required funds. Inclination shares are likewise higher in the lender chain of importance than standard offers, and have a special option to get the returns of removal of the advantages in case of an organization going into liquidation. They are in this manner less hazardous than conventional offers, despite the fact that they are lawfully share capital also. There are three further kinds of inclination shares:- Participating inclination shares Preference shares which, notwithstanding delivering a predetermined profit, qualifies inclination investors for partake in accepting an extra profit if conventional investors are delivered a profit over an expressed sum. Convertible inclination shares An inclination share that can be changed over into regular offers at aset transformation cost. An organization may give them to back a significant acquisitions without expanding the company’s outfitting or weakening the EPS of the conventional offers. Redeemable inclination sharesA inclination share which must be repurchased by the organization at a concurred date and at a concurred cost Deferred Shares An offer that doesn't reserve any options to the advantages of an organization experiencing liquidation until all normal and favored investors are paid. Where it exits, it will rank behind every other offer for profit. Non-casting a ballot Shares An offer which value that doesn't have a vote, despite the fact that it is qualified for a portion of the benefits. The term isn't typically applied to inclination shares, in spite of the fact that inclination share don't have votes, they get a fixed dividend.Retained benefit:- Retained benefit is the benefit stayed with in the as opposed to paid out to investors as a profit. Held benefit is generally viewed as the most significant long haul wellspring of money for a business. Profit payable:- The measure of profits which have been proclaimed by a company’s governing body and which are committed to be paid to investors. In the event that the profit yield falls, at that point the offer turns out to be less appealing contrasted with different ventures, interest for it will fall, and flexibly will increment as financial specialists wish to sell. Paper data on share:- Many of the broadsheet papers incorporate an area demonstrating security costs and related data including: the most noteworthy and least costs during the year; the end value the earlier day; the adjustment in cost over the past exchanging day; profits net of duty; profit spread; net yield; and the P/E proportion. Offer classes:- Shares are arranged by the organization type and exchanging recurrence: ? Alphas These are the portions of the most esteemed organizations which are commonly intensely exchanged and managed in by countless market-producers. Costs are posted quickly on SEAQ ? BetasThese are likewise huge organization protections, however they are not as intensely exchanged as alphas. They should have at any rate four market-creators managing in them and costs cited on SEAQ are those at which firm arrangements can be made. ?Gamma These protections are exchanged lessfrequently than betas and the costs cited for them are simply demonstrative. ?Deltas These are the least exchanged of all and no costs are really appeared, basically signs of a vendor's advantage. Penny shares:- Penny shares will be shares which have a low an incentive with the offer or offer spread of such offers surpassing 10% of their market value.Investors purchase such offers with the expectation th at the market has underestimated their possibilities and that they will make a significant benefit when the value recuperates. Strategies for giving offers:- One manner by which a firm can grow is to give extra value â€usually on the primary Stock Exchange or second-level market, either by a cited organization giving extra offers or by an unquoted organization getting a citation. An unquoted organization may likewise wish to give shares without being glided. Setting or Selective Marketing’s:- This strategy is frequently utilized for an organization wishing to be skimmed just because and to give a little issue, or by a cited organization wishing to raise extra fund. It includes protections' procurement by a market-producer with the goal that they can be bought by few speculators. Offer For deal. This is the place the organization which is giving the offers will offer the offers to a giving house. By and large a vendor bank will go about as a giving house. The offers purchas ed over by the giving house will be re given to the general public.Under this strategy the organization which is giving the offers can utilize the monetary quality and the picture of the giving house to make. Ordinarily the offers are offered at a fixed cost controlled by the company’s chiefs and their money related counselors. This is normally embraced by the association who is offering just because and a huge issue. This is otherwise called open offer. The issue cost ought to be sufficiently low to be alluring to possible financial specialists, however sufficiently high to permit the necessary money to be raised without the issue of a greater number of offers than should be expected. PlacingThis is the place the organization which is doing the offer issue will choose huge institutional financial specialists and offer the offers by leading â€Å"road shows†. A street show is the place the organization will direct an introduction to teach the chose speculators about th e offer issue. This will be an ease technique for giving the offers. A portion of the institutional financial specialists who will be keen on the offer issue will incorporate annuity reserves, unit trusts, funding associations, building social orders. The offers are given at a fixed cost to various institutional financial specialists who are drawn closer by the merchant before the issue takes place.Instead of participating in publicizing to the populace everywhere, the support or representative dealing with the issue offers the offers to its own private customers. The expenses of this technique are extensively lower than those of a proposal available to be purchased. There are lower exposure costs and legitimate expenses. A disadvantage of this strategy is that the spread of investors isgoing to be increasingly constrained. Deal by delicate This is the place the organization which is giving the offers will call upon the financial specialists to offer the cost at which they are eager to purchase the shares.Therefore every individual speculator will show the amount of offers they hope to purchase and value they are happy to pay. The organization ought to choose a cost at which all the offers can be given and gather the most elevated conceivable income. This cost will be known as the strike cost. Speculators who offer a cost over this will be assigned offers at the strike cost †not at the cost of their offer. The individuals who offer beneath the strike cost won't get any offers. This technique is helpful in circumstances where it is very ifficult to esteem an organization, for example, where there is no similar organization previously recorded or where the degree of interest might be hard to evaluate. It is all the more expensive to regulate and numerous financial specialists will be put off by being given the difficult undertaking of evaluating the share’s esteem. Momentary Finance:- Securitization:- The procedure through which a guarantor makes a m oney related instrument by joining other monetary resources and afterward advertising various levels of the repackaged instruments to financial specialists. The procedure can envelop any kind of money related resource and advances liquidity in the marketplaceRight issue The term right issue is applied to the arrangement of giving offers to existing investors generally at a rebate from the market cost so as to raise further capital from existing investors. The offer must be on a correct premise in relation to the individuals existing holding as a small amount of possessions of all individuals qualified to get the offer. The privileges of investors to purchase the rights are known as pre-emptive rights. Computation of issue cost. This is the sum that organization wishes to raise from the issue isolated by the quantity of new shares.It is imperative to give an adequate number of offers so the issue cost is underneath current market cost. Estimation of cost after issue: ?Ex right cost ? Actual cost after issue †¢At current profit †¢At lower income †¢At higher income Values of rights: The worth is the contrast between the cost of the correct offers and the ex-right offers. Different strategies: ?Subscription offers: A proposal for membership is a solicitation to people in general by or for the sake of a backer to buy in for protections not yet gave or designated. ?Plan issue:If sensibly significant the organization may make an issue direct to people in general with irrefutably the base of help from the outside source. It is somewhat strange in light of the unpredictability of the idea of the capital issue. ?Stock exchan

Cultural Difference between Ch essays

Social Difference between Ch expositions Social Difference among Chinese and Americans in Business Since local and global enterprises are presently showcasing their items and administrations around the globe, a comprehension of intercultural contrasts has gotten obvious. Supervisors of worldwide organizations and joint endeavors need to arrange, work, and make key arrangements that adjust to social contrasts in every condition. As business associations with China increment, the board of global undertakings and joint endeavors are starting to understand that achievement might be risked if consideration isn't paid to social contrasts (Brunner, Koh, Significant contrasts between the Chinese and the Americans incorporate language, topography, history, religion, and political and monetary frameworks. These lead to social contrasts. Social contrasts might be intriguing to visitors and to understudies of culture; however to representatives, they are hindrances. Contrasts should be perceived before they can be comprehended. Just when we start to comprehend the distinctions would we be able to alter our way of living, modify our strategic approaches to suit the distinctions, lastly impart to our partners in a commonly justifiable way. Language is the primary deterrent. The Chinese are putting forth huge attempts to learn different dialects, particularly English and Japanese. Americans, as well, are stressing unknown dialects in nonliberal expressions. Business colleges stress language obtaining. In any event, figuring out how to state please and thank you is an indication of altruism (Slate, 1993). Past the language obstruction, huge social contrasts hinder working connections. The Chinese are somewhat bunch focused, living respectively under a similar rooftop and cooperating in a gathering. They rely upon one another in their lives and in their work. They accentuate winning honor for the gathering or for the family. Americans, then again, are free and individualistic, ... <!

Symbolism in Hawthorne’s “Young Goodman Brown Essay Example

Imagery in Hawthorne’s â€Å"Young Goodman Brown Paper Imagery assumes a significant job in the message that Nathaniel Hawthorne plans to pass on in his story â€Å"Young Goodman Brown†. Hawthorne utilized emblematic circumstances which speaks to a degenerate and veiled society that is as yet appropriate in right now. In this story, Hawthorne portrays an apparently fanciful encounter of Goodman Brown amidst an insidious custom in the forested areas where he and his better half endeavored to take an interest in. Brief Summary of Young Goodman Brown Young Goodman Brown is an as of late wedded man who heads out to have a great time subsequent to saying farewell to his dear spouse, Faith. He makes a decent attempt to drive away his blame of seeking after a malicious arrangement while he leaves her that night by promising to make it up to her sometime in the not so distant future. As he experiences the dull timberland thinking about whether the demon is simply near, he gets reluctant in encouraging his arrangement on joining some strange individuals in a detestable custom some place somewhere down in the woodland. After clarifying why he was late to a conventionally dressed man since his significant other held him back, they are joined by another voyager whose age he figure to be around fifty. He sees the wonderful snake like staff of the principal man who tended to him. After gathering the others who might go along with them, he is astonished to discover that the greater part of the upstanding and heavenly individuals in his neighborhood are available; the lady who showed him drill, the pastor, Deacon Gookin, and the most amazing of allâ€his spouse! He discovers that Faith is the motivation behind why the custom is started. He understands that he had lost his Faith so he settle in seeking after his unique arrangement and be changed over to abhorrent like the remainder of them. We will compose a custom article test on Symbolism in Hawthorne’s â€Å"Young Goodman Brown explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Symbolism in Hawthorne’s â€Å"Young Goodman Brown explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Symbolism in Hawthorne’s â€Å"Young Goodman Brown explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer Nonetheless, as Goodman Brown and Faith approach the raised area to be blessed by the detestable blood, Goodman Brown requests Faith to admire paradise and oppose the malevolence. When the words leaves his mouth, he gets himself alone in the forested areas thinking about whether he had simply imagined the custom. He returns to his neighborhood a changed man. He gets suspicious and far fetched of his significant other and neighbors even to the day he kicked the bucket. Imageries The story itself is the whole portrayal of a fraudulent society. It is as of now an imagery that further underlines the fraud of Puritanism. Unmistakably Hawthorne plans to condemn puritan culture most particularly the hour of the Salem Witch Trials where just about twenty affirmed witches were hanged with phantom proof as the main confirmation. Like Goodman Brown, Hawthorne is accepted to have likewise questioned the idea of transgression in the general public. Most likely, it is his approach to drive away the blame when he discovered that he is a relative of one of the significant persecutors in the witch preliminaries. The story likewise contains some personal components where the fallen angel reminds him, â€Å"I helped your granddad, the constable, when he lashed the Quaker lady so insightfully through the avenues of Salem† (Hawthorne 113). The story is by all accounts a full portrayal of the author’s see about a severe puritan culture. In addition, the setting of the story is likewise very emblematic as the underlying piece of the story depicts Goodman Brown entering a dim woodland where the witches assemble at Sabbath. Hawthorne’s depiction of the dull and desolate backwoods shows that a dim basic defining moment in his life is going to occur. â€Å"The dimness isn't just physical, it is satanic† (Crowley 68). The story likewise represents man’s battle to stay away from enticement by the fallen angel. By the utilization of unearthly proof, Hawthorne can group the possibility that the fallen angel could be sneaking in the shadows even of the best men (Reis 200). At the point when Goodman Brown discovers that the most strict individuals in his neighborhood are really individuals from the custom in the woodland, he understands how shrewdness can come in numerous misleading structures. This acknowledgment drives him to his wretchedness in light of his failure to distinguish if his experience is just a fantasy or a terrible reality. Goodman Brown can be viewed as a genuine decent man before the experience in the forested areas. He is viewed as acceptable to his significant other and he adores her beyond a reasonable doubt. He even alludes to her as, â€Å"My love and my Faith† (Hawthorne 111) and falters to go on further with the gathering, â€Å"What a bastard am I to leave her on such a task! She discusses dreams, as well. Methought as she talked there was inconvenience in her face, as though a fantasy had cautioned her what work is to be done this evening. . . † (Hawthorne 111). In any case, the decency and naivete inside him is changed when he finds good and as far as anyone knows sacred individuals are a piece of the malevolent custom. This shows Hawthorne’s demeanor towards profoundly strict individuals, for example, the early Puritans. It implies that not every strict individuals are heavenly, and here and there, they are simply presenting lip service to make up for themselves. Indeed, even the name of his better half, Faith, represents the things that he had lost upon full acknowledgment of malevolence in his neighborhood. He loses his significant other, Faith, when he sees her in the forested areas and he likewise loses his otherworldly confidence towards goodness. â€Å"The story isn't about the abhorrence of others however about Browns question, his recuperation of the chance of all inclusive evil† (Levin 121). End Young Goodman Brown may likely simply go as a short customary story that includes extraordinary experiences. While the facts demonstrate that is just anecdotal and not to be paid attention to as a general rule, it comprises of imageries which are essential to consider. It comprises of political and strict imageries which are by implication advised by the writer to permit the perusers to shape their own understanding without anyone else. Clearly, the story incorporate increasingly huge and inside and out issues in life than what is at first passed on to be unreasonable and shallow. Works Cited Crowley, Joseph Donald. Nathaniel Hawthorne. London: Taylor Francis, 1971. Hawthorne, Nathaniel. â€Å"Young Goodman Brown. † Young Goodman Brown and Other Tales. Ed. Brian Harding. New York: Oxford University Press, 1999. 111â€123. Levin, David. â€Å"Shadows of Doubt: Specter Evidence in Hawthornes ‘Young Goodman Brown’. † On Hawthorne: The Best from American Literature. Eds. Edwin Harrison Cady and Louis J. Budd. US of America: Duke University Press, 1990. 114-122. Reis, Elizabeth. Condemned Women: Sinners and Witches in Puritan New England. New York: Cornell University Press, 1997.

OXIDATION OF METHIONINE BY SINGLET OXYGEN Essay - 1

OXIDATION OF METHIONINE BY SINGLET OXYGEN - Essay Example Progress metal buildings as photosensitizers 16 Semiconductors 17 Immobilized photosensitizers 17 Methionine oxidation 18 Assurance of singlet oxygen 21 Aims 24 Materials and methods 25 General Information 25 Oxygen measurements 25 Singlet oxygen utilization at various methionine concentrations 26 Singlet oxygen utilization initiated by laser. 27 Results and discussion 27 Conclusions 47 References: 49 Conceptual The methionine oxidation response utilizing singlet oxygen was contemplated. At first this report is centered around introducing the diagram of works related with the theme. Singlet oxygen is portrayed alongside the manners in which it is framed. It was featured that singlet oxygen was an all the more remarkable oxidant then triplet oxygen and the sorts of oxidation pathways are portrayed. The down to earth part of this exploration is centered around utilizing a photosensitizer, Rose Bengal, to produce singlet oxygen. This is the explanation behind giving a short diagram of photosensitizers is given making center around the conduct of Rose Bengal and mixes like it in structure. Methionine oxidation component is depicted just as capacity of oxygen terminal. So as to investigate the subject of methionine oxidation by singlet oxygen two tests were completed. In the primary analysis a progression of methionine arrangements with various focuses were readied. For each situation Rose Bengal was included as a photosensitizer. As it was built up, the pace of oxygen utilization relies upon methionine fixation in the arrangement being the most elevated at the least grouping of methionine. The procedure was trailed by Michaelis-Menten energy consequently the comparing conditions were utilized to develop Lineweaver-Burke plot and decide the greatest pace of the oxidation response just as the line slant. The subsequent test used an increasingly enthusiastic methodology. A laser beat was utilized to create singlet oxygen particles in the color containing methionine arrangement. What's more, by utilizing different groupings of methionine and Rose Bengal as photosensitizer build oxygen utilization plots alongside assurance of variety of focal point of mass separation and potential vitality of the responding atoms. Methionine oxidation was likewise portrayed utilizing SPARTAN estimations and the response instrument was introduced. This report is at first centered around depicting the key writing related with oxidation of methionine by singlet oxygen, featuring significant for the venture issues and contentions, at that point proceeding onward to introducing the exploration that has been done as such far, making accent on the techniques utilized and results accomplished, before at last distinguishing the current holes in the examination and setting up an arrangement for future work. Presentation Oxygen was found by Joseph Priestley in 1775 (Priestley, 1775). Afterward, Avagadro portrayed the diatomic idea of oxygen, and the paramagnetic properties of this diatomic gas were concentrated by Faraday in 1811. Contrasts among oxygen and different gases, for example, helium or nitrogen were likewise explored (Parkes, 1967). Later in 1928 , utilizing sub-atomic orbital hypothesis, it was built up that oxygen is paramagnetic because of the nearness of the equal twists of two electrons possessing the external shell. This structure with uncoupled electron pair was named triplet oxygen. Spectroscopy was utilized to demonstrate the presence of higher vitality state, which later was called singlet oxygen (Herzberg, 1934). In the singlet type of this particle external shell electrons are matched in antiparallel twists. At first, the significance of singlet oxygen was not perceived. It was rediscovered in 1964 in photooxidation tests and from that point forward turned out to be seriously examined. In the course of the last a quarter century huge increment in information with respect to singlet oxygen has prompted the

The Class of 2011 arrives

The Class of 2011 arrives Today, the Class of 2011 started to arrive! With International Orientation as well as the Freshman Pre-Orientation Programs (FPOPs) beginning, hundreds of freshmen are all around campus. Today, I saw Snively 11 from Oregon (and Snivelys parents), Sara 11 from Massachusetts, Thilani 11 from Sri Lanka (and Thilanis mom), and Beebe 11 from Maryland. It was great to see everyone. Note to 11s: Ben, Bryan and I are generally around this week and next, though were quite busy with meetings to prepare for the Class of 2012 (!), so dont be offended if were not around when you stop by or dont have all that much time to chat. So, just who are the MIT 11s? Heres the Class of 2011 Profile: Incoming Freshman Class Profile for the MIT Class of 2011 Gender Male 54% Female 46% Ethnicity Citizenship US Citizens Permanent Residents: 92% * African American 9% * Asian American 26% * Caucasian 38% * Mexican American 7% * Native American 1% * Puerto Rican 2% * Other Hispanic groups 3% * Other/no response 6% International citizens 8% Geography New England 12% Mid-Atlantic 15% Southeast PR 19% Midwest Plains States 13% South/Southwest 12% West Coast 19% Abroad 10% States represented 49 Countries represented 58 Schooling Public school 69% Private school 14% Religious school 9% Foreign school 6% Home schooled High Schools represented 833 Just for fun Most popular boy name: Michael Most popular girl name: Elizabeth Longest distance traveled: Tangerang, Indonesia Least distance traveled: Brighton, MA The one US state not represented: North Dakota

The Killer Whale Essay - 550 Words

The Killer Whale (Essay Sample) Content: The Killer WhaleNameInstitutional affiliationThe Killer WhaleThe killer whale is one of the largest predators in the sea. It has a rounded head, black and white body patterns, and long dorsal fin. An adult male is larger than a female; it can grow up to 9 meters long. The behaviors of killer whales depend on their geographical location; the northern hemisphere killer whales behave differently from their southern counterparts (Pitman, Perryman, Leroi, Filers, 2007).Killer whales are highly selective in their diet; they strictly eat specific species of animals found along their migration routes. For instance, in the northern hemisphere, the transient killer whales eat marine mammals while the resident killer whales specialize on hunting fish and squid. Similarly, the offshore killer whales eat cartilaginous and bony fish. The mammal-eating transient killer whales hunt northern fur and largha seals while the fish-eating resident killer whales hunt salmons and Atka macke rel (Bruyn, Tosh, Terauds, 2013).Killer whales are social creatures; they spend most of their time in groups. They also have a habit of sharing meals. Although such social behaviors are largely similar among all the species of killer whales, variations exist depending on geographical location. For instance, in the northern hemisphere where there are three species, three distinct social organizations exist. The resident killer whales are organized in pods consisting of an average of 18 members. The members are mainly groups of related females who keep the continuity of each pod. Although the members of a pod can disperse, they rarely do so permanently. They always regroup after a short period of dispersion (Bruyn, Tosh, Terauds, 2013).The transient killer whales are also organized in pods. However, the average size of a pod is 2.4. It is believed that these whales stay in small groups consisting of a few individuals because of their food preferences. Unlike the resident whales, the transient killer whales often split up permanently. However, there are those who stay in relatively large groups because they hunt large prey, which require the efforts of many members (Bruyn, Tosh, Terauds, 2013).The offshore killer whales are also organized in social groups. They stay in very large groups consisting of 75 à ¢Ã¢â€š ¬ 100 individuals. Such social groups are like a combination of many pods of the resident or transient killer whales. In fact, large groupings of offshore killer whales are often described as clans rather than pods (Bruyn, Tosh, Terauds, 2013).In the southern hemisphere, little is known about killer whalesà ¢Ã¢â€š ¬ social organization. However, from the available data, the killer whales of New Zealand show some characteristics of a social organization. For example, they spend their time in small pods of about four individuals. Each pod co...

Danger Diminishment Burning Causes And Uses Of Fires

A controlled or endorsed consume, otherwise called danger diminishment burning,blowback, swailing, or a consume off,is a procedure at times utilized as a part of backwoods administration, cultivating, prairie rebuilding or ozone depleting substance decrease. Fire is a characteristic piece of both woodland and field biology and controlled fire can be an instrument for foresters. Danger diminishment or controlled consuming is directed amid the cooler months to lessen fuel development and decline the probability of genuine more smoking fires.Controlled consuming fortifies the germination of some attractive backwoods trees, and uncovers soil mineral layers which builds seedling essentialness, in this manner reestablishing the woodland. A†¦show more content†¦Moreover, if the range is to be had relations with before planting, consuming first expends a significant part of the flotsam and jetsam. The outcome is all the more firmly pressed overnight boardinghouses better seedling su rvival. Where herbicides are utilized to execute rivalry, ensuing consuming will give extra vegetation control. This progression additionally allows more effective and less demanding development of hand-planting teams. Endorsed fire likewise reuses supplements, making them accessible for the following timber edit. Endorsed consuming is exceedingly suggested for natural life environment administration where loblolly, shortleaf, longleaf, or cut pine is the essential overstory species. Intermittent fire tends to support understory species that require a more open living space. A mosaic of consumed and unburned zones has a tendency to boost edge impact which advances a substantial and differed natural life populace. Deer, pigeon, quail, and turkey are amusement species that advantage from endorsed fire. Habitat Endorsed fire can enhance natural life environment. inclinations of a few imperiled animal types, including the Florida jaguar, gopher tortoise, indigo snake, and red cockaded woodpecker are likewise improved by consuming. Untamed life profits by consuming are significant. For instance, foods grown from the

Child Abuse And Its Effect On Children Essay - 2352 Words

Introduction Child abuse is becoming an epidemic in the United States of America and the numbers are growing yearly. The correct definition of child abuse is when a parent or caregiver causes harm, injury, death, emotional harm, etc. It also stated that child abuse can occur when a parent or caregiver does not do anything about the harm being caused to them. Physical abuse is a form of child abuse that causes physical harm to a child, such as, hitting, kicking, pinching, etc. Sexual abuse is another form of child abuse, which is when an adult uses a child in a sexual way or in sexual actions. Emotional abuse, is when a parent or caregiver begins to negatively affect a child’s emotional state and or development socially. The last form of child abuse is neglect. Child neglect is when a parent or caregiver is not providing the child with care, support, etc. Each form of child abuse can affect a child in many ways and can also cause issues for the child in their adult life (childhelp). Due to child abuse becoming such an epidemic there are now many organizations, legislation, and support for children and families experiencing this traumatic event. What is the cause of this issue? It has been found that many believe that parents who abuse their children have severe mental illness. However, that is not the case at all, but is has been found that there are variety of things that affect a family and parents, which possibly result in child abuse. It has been found that someShow MoreRelatedThe Effects Of Child Abuse On Children935 Words   |  4 PagesChild abuse has been an issue in America since the beginning of time, but lately there has gradually been an increase in reported incidents of abuse. There are several types of child abuse that are present in today’s society. The different types of abuse include physical, emotional and sexual abuse. 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Child abuse is a behavior outside the norms of conduct and entails substantial risk of causing physical or emotional harm. There are four main types of child abuse; physical abuse, sexual abuse, emotional abuse, andRead MoreChild Abuse And Its Effects On Children1132 Words   |  5 PagesIntroduction Child abuse takes many different forms. Including physical, sexual, emotional, or neglect of a children by parents, guardians, or others responsible for a child s welfare. Regardless of the type of abuse, the child’s devolvement is greatly impacted. The child’s risk for emotional, behavioral, academic, social, and physical problems in life increase. According to the Child Maltreatment Report by the Children’s Bureau (1999) the most common form of child abuse in the United States is

Pro Bono And Legal Services Committee - 1190 Words

 » Alison King, Kaye Scholer’s Pro Bono Counsel and Co-Chair of the firm’s Pro Bono Committee, discusses the firm s pro bono initiative and her new role as Chair of the City Bar’s Pro Bono and Legal Services Committee. Alison King, Kaye Scholer’s Pro Bono Counsel and Co-Chair of the firm’s Pro Bono Committee, has been appointed the new Chair of the City Bar’s Pro Bono and Legal Services Committee. Alison recently spoke with us about the Committee, her new responsibilities and the path toward making pro bono her career. Tell us about New York City Bar’s Pro Bono and Legal Services Committee. The Pro Bono and Legal Services Committee’s mission is to address issues surrounding pro bono work by attorneys and to advocate for efforts to†¦show more content†¦The Committee is also responsible for providing support for the City Bar’s activities, including their advocacy this past year around the Right to Counsel in Housing Court. Members of the Committee drafted a substantial report detailing legislative recommendations. What responsibilities will you take on in your new role as Chair of the Committee? Under my leadership, the Committee will continue many of its initiatives, including: †¢Best Practices in Pro Bono conversations, †¢Corporate In-House Pro Bono program, †¢Ã¢â‚¬Å"Encouraging Pro Bono for Small Firms and Solo Practitioners† sessions, †¢Monitoring and coordinating the responses by the Law School to the Chief Judge’s pro bono requirements and bar admissions processes, †¢Legislative Affairs subcommittee advocacy work (including the Right to Counsel in Housing Court work), †¢Coordinating the City’s pro bono response to Immigration matters in state and federal court, †¢Promoting pro bono work for those attorneys who are transitioning away from a paying client practice (with an initial focus on large law firm partners and counsel), and †¢Disaster preparedness with the promotion of a volunteer software management system for the legal services organizations in the City that can be expanded for use by a coalition of organizations during a disaster. What sparked your interest in pro bono work? I graduated from a law school

The Effects Of Occupational Therapy On Enhancing Quality...

The Effects of Occupational Therapy in Enhancing Quality of Life for Individuals With Dementia Dementia is a chronic syndrome that involves a progressive deterioration of brain function and leaves a person to suffer from not only a cognitive decline but physical, emotional, and behavioral changes as well. There are over ten different types of dementia and each cause significant changes in the make up of the brain and the brain function. Those changes include deposits of protein that form plaques, twisted strands of protein that form tangles, blood vessel blockages, fluid build up, and Thiamine deficiency. The two most common forms of dementia are Alzheimer’s disease, which accounts for an estimated 60 percent to 80 percent of cases, and†¦show more content†¦However, true dementia affects more than just short term memory and recall, this syndrome progressively debilitates every aspect of their life and ultimately alters the quality of life in which they live. Typical s igns and symptoms of dementia are memory loss, impaired judgement, difficulty with abstract thinking, inappropriate behavior, loss of communication skills, disorientation to time and place, neglect of personal care and safety, paranoia, and agitation. Family members and friends of those bothered with dementia are also challenged as their loved ones ability to function throughout activities of daily living and do so safely is compromised. Six drugs have been approved by the U.S. Food and Drug Administration that temporarily improve symptoms of Alzheimer’s disease by increasing the amount of chemical neurotransmitters in the brain. The effectiveness of these drugs varies from person to person. While these drugs cannot cure dementia or repair brain damage, they may improve symptoms and create a better quality of life as the disease progresses. Non-pharmacologic therapies are often used with the goal of maintaining or improving cognitive function, the ability to perform instrumen tal activities of daily living, or overall quality of life. They also may be used with the goal of reducing behavioral symptoms such as depression, paranoia, apathy, wandering, sleep disturbances, agitation and aggression (2015). How is occupational therapy used to

English Romanticism And The Sentimental Free Essays

Topic: English Romanticism and the sentimental novel What is Romanticism? The portrayal of emotion and imagination The portrayal of the beauties of nature Settings that are exotic (ex: old castles, mansions, etc. ) Interest in unnatural realms of legends, folk superstitions, and ghosts Emotional intensity in language and characters Intense interest in nature’s fierceness and/or beauty Hero who revolts against social norms in his/her society Romanticism in Frankincense Victor Frankincense’s creature is the romantic hero because of his rejection from his â€Å"normal† society. Because of his appearance, he cannot be accepted into society. We will write a custom essay sample on English Romanticism And The Sentimental or any similar topic only for you Order Now Victor Frankincense attempts to go against nature’s limitations by making his creature What is a sentimental novel? A sentimental novel celebrates the emotional and intellectual concepts of sentiment, sentimentalism, and sensibility. How is Frankincense a sentimental novel? Walton has sympathy for Victor’s misfortunes How to cite English Romanticism And The Sentimental, Papers

Apartheid 2 Essay Research Paper Apartheid In free essay sample

Apartheid 2 Essay, Research Paper Apartheid In South Africa Apartheid, the Afrikaans word for apartness was the system used in South Africa from the old ages 1948 to 1994. During these old ages the about 31.5 million inkinesss in South Africa were treated cruelly and without regard. They were given no representation in the National party even though they made up most of the state. It was non until 1994 when a black adult male name Nelson Mandela came to power in the South Africa Congress. Once elected Mandela removed all racialist Torahs against inkinesss and all other minorities. Nelson Mandela is one of the great leaders of our clip. A hero whose womb-to-tomb strugal to the battle against Apartheid in South Africa won him the Nobel Peace Prize and the presidential term of his state. Since his release from prison in 1990, Mandela has been at the centre of a battle against the white minority in South Africa. We will write a custom essay sample on Apartheid 2 Essay Research Paper Apartheid In or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Nelson Rolihlahla Mandela was born on July 18, 1918. After having an instruction at a local mission school, he was sent to Healdtown, a secondary school. He so enrolled at the University of Fort Hare for a Bachelor of Arts Degree where he was elected onto the Student s Representative Council. He was expelled from college, for fall ining in a boycott. Mandela so went to Johannesburg where he completed his Barium by correspondence and studied for his LLB. He entered political relations while analyzing in Johannesburg by fall ining the African National Congress in 1942. During the 50 # 8217 ; s, Mandela was one of the many tried in the Treason Trial. Shortly after the 1960 slaughter of peaceable black demonstrators in Sharpeville, most motions, including the ANC, were banned. Nelson Mandela was forced to travel belowground and unrecorded apart from his household. However, his successful equivocation of the constabulary earned him the rubric of the Black Pimpernel. At this clip, he and other leaders of the ANC created a new subdivision of the release motion, Umkhonto we Sizwe, with a position to fixing for armed battle, Mandela said, # 8220 ; I and some co-workers came to the decision that as force in this state was inevitable ; it would be incorrect and unrealistic for African leaders to go on prophesying peace and non-violence at a clip when the authorities met our peaceable demands with force. # 8221 ; He was elected President of the ANC in 1991, and on May tenth 1994, he was inaugurated as President of South Africa. I decidedly have to state that Nelson Mandella had a wholly positive influence on everyone in South Africa, non merely the black bulk but everyone. The ground is because things were truly bad under Thursday e all white leading and many white people did non hold with the apartheid system. It is hard to pick merely one or two important event in apartheid history, so I would wish to merely briefly reference some Torahs that were made. The White South Africa authorities came up with many unjust Torahs to maintain the black people of the state segregated, these are merely a few of the most unjust 1s. Mines A ; Works Act 1911 A ; 1926 -Imposed colour prohibition on certain occupations, a white wage was to be higher than a black at all times. -Natives ( Urban Areas ) Act 1923 -Provided for residential segregation in metropoliss. The inkinesss had to transport particular documents to be allowed to remain in the metropoliss. -Prohibition of Mixed Marriages Act 1949 Banned matrimonies between races. -Population Registration Act 1950 Forced all South Africans to register as Black, White, Asian or Colored. -Immorality Act 1950 Banned sexual dealingss between people from different racial groups. -Criminal Law Amendment Act 1953 -Imposed stiff punishments for protest or incitation to protest. -Separate Representation of Colored Voters Act 1956 Removed franchise from coloreds. -Industrial Conciliation Act 1956 Empowered the Minister of Labor to reserve any occupation on a racial footing and to fade out racially assorted trade brotherhoods. -Promotion of Bantu Self-government Act 1959 Removed all black representation in the parliament and created separate black fatherlands. -Constitutional Act 1983 Set up a tricameral parliament with separate Chamberss for Whites, colored and Asians, while denying representation for inkinesss. Sing all of my research I feel that the universe is a much better topographic point because of people like Nelson Mandella, and because of his womb-to-tomb battle racism no longer exists in the state of South Africa. Of all the books that we have read in category so far the lone 1 that we have read that trades with apartheid or South Africa is Waiting For The Rain. Half of the narrative took topographic point on a farm so non many things that I researched came up. A few things did though, in the narrative the immature black male child named Tango was involved in public violences, which was a large portion of the revolution in South Africa. Through my research I have come to understand the narrative Waiting For The Rain a batch better. I now know that the apartheid system was on a much larger graduated table than merely the characters in the book. The narrative may be a fiction but now after making all my research if I had read the book I would hold wholly believed it.

Women In 18th Century France Essays - Gender Studies,

Women in 18th Century France Women in 18th Century France Many changes occurred during the Enlightenment period of the eighteenth century. For instance, more and more emphasis was placed on the family as the eighteenth century passed. There were three groups of urban women in eighteenth century, lower-class, middle-class, and upper-class. This essay will discuss the experiences of the lower and middle class urban women. It will also cover Olympe de Gouges', The Declaration of the Rights of Woman. The changes were different for lower-class women as opposed to middle class women. "Only those wealthy enough to afford to dispense with women's work could partake of the new domesticity." Our textbook, does not spend as much time talking about the lower class as it does the middle class. None the less, it seems that in the cities, the condition of the poor was as desperate as it ever had been. Mothers abandoned their children to foundling hospitals because they could not raise them properly themselves. It was thought that they would live a better life at the hospitals, but hospital death rates were close to 80 percent. Women who had a job could not afford the material needed to educate their own children, nor did they even have time to educate them if it were possible. Working women now used wet nurses, which in the past had only been used by the wealthy. Lower-class women had no privacy whatsoever as large families often lived in one room. Wives were still beaten by their husbands. Having a large amount of suffering was nothing new, however, the urban poor blamed the government for all of the economic hardships. Women fought alongside men in urban revolutionary activities. In October 1789, a group of women, acting on their own, forced the king to leave Versailles for Paris. It was the job of women to buy food for the family, and when they became unable to do this, the situation became intolerable. They wanted the king to deal with these problems himself. For Bourgeois women there were many changes. Marriages that had been arranged in the past, became more of a romantic relationship as well as economic. Mothers stayed at home and cared for their children more. "The image of the doting mother replaced that of the domestic drudge." Female education and the intellectual pursuits of females became more accepted and common. Although Men were more likely to be literate than women were, over one quarter of French women could read at the beginning of the eighteenth century, and towards the end of the century that number had doubled. With the increase of female literacy, the overall rates also increased as women began to teach children. The leisure time of bourgeois women increased greatly and more entertainment and literature was available to them. Women began to read more and a vast number of books were available to them; a teach-yourself book, fanciful romances, and books of moral instruction. Domestic life also began to change. In the past, marriages had based on economic partnership and "a means to carry on lineage" . Husbands ruled over their wives and made all of the family decisions. Even in the middle of the eighteenth century, the "rule of thumb" was passed; it said that a husband could legally beat his wife as long as the stick was no thicker than his thumb. During the second half of the eighteenth century, all of this began to change. Although economic elements of marriage were still very much a factor, many other elements came into play. "A new desire for individual happiness, romantic and sexual attraction developed into a factor in marriage" .Courting became a more common occurrence as "prospective partners could dance, dine, and converse with each other to determine compatibility". Young people were now able to search for their own marriage partners and could turn down unsuitable ones. Married couples began to spend more time together and personal lives changed dramatically. Houses were built so that husbands and wives could have privacy from their children and anyone else who may bother them. Sexual activity outside the marriage and premarital pregnancy rates were on the rise as well. Village festivals still shamed husbands whose wives were unfaithful or women with bad reputations. Furthermore, Women began to bear fewer children, which had a great impact of the lives of women. Few children reduced the danger of death and gave them more leisure time to use at their discretion. The early part of a woman's marriage was devoted to her children. People had a new attitude towards raising children. Mothers began spending more of her

Free Programs That Help You With Your Graduate School Application Essay

Free Programs That Help You With Your Graduate School Application EssayGraduate school application essays are probably the most important things you will ever write. As a student, your application essay will be your chance to make a statement about you. So when you get to college, it is really the only thing you should worry about.The reason why I say that, is because your application essay is your chance to be noticed. It is the first thing many colleges and recruiters to see. That is why you must be prepared before you get to college. It is easier said than done though because no one wants to spend time in the classroom writing.A lot of people want to get help from a tutor, but many don't want to pay the fees to have someone else do it for them. This is where free programs come in handy.But what if you have no money to pay for one of these programs and still wanted to get a great graduate school application essay for free? Well there is one option that many people overlook.A great way to get a grad school application essay for free is by making use of online resources. You see, these programs are simply a way for you to learn about writing and how to use the program and writing software they have to give you guidance. Most of the sites that you can get free help from online work with writers and let them pick out the writing sample that is best for them.For example, there are programs that give you the choice of choosing between getting a free grammar and usage guide. Or you can also choose to just have them give you some guidelines on how to properly format your essay so that it is more grammatically correct.Thereare also other types of programs that will allow you to choose which type of essay that you want to write. Just like how you can choose to get a free grammar and usage guide or learn how to write an essay about something that you know nothing about. These programs are often pretty good though and you are going to get a high quality program.When look ing for an essay, the best advice I can give you is to look online and see what you can find. This will save you a lot of time and will really help you as a student. Don't forget though that it will be hard work as well and it can be difficult to get right away.

Nestle Pakistan

Nestle Pakistan Free Online Research Papers Nestlà © has been serving Pakistani consumers since 1988, when our parent company, the Switzerland-based Nestlà © SA, first acquired a share in Milkpak Ltd. Today we are fully integrated in Pakistani life, and are recognised as producers of safe, nutritious and tasty food, and leaders in developing and uplifting the communities in which we operate. We at Nestlà © Pakistan ensure that our products are made available to consumers wherever in the country they might be. Convenience is at the heart of the Nestlà © philosophy, and our aim is to bring products to peoples doorsteps. Nestlà © has been serving Pakistani consumers since 1988, when our parent company, the Switzerland-based Nestlà © SA, first acquired a share in Milkpak Ltd. Today we are fully integrated in Pakistani life, and are recognised as producers of safe, nutritious and tasty food, and leaders in developing and uplifting the communities in which we operate. We at Nestlà © Pakistan ensure that our products are made available to consumers wherever in the country they might be. Convenience is at the heart of the Nestlà © philosophy, and our aim is to bring products to peoples doorsteps. Research Papers on Nestle PakistanInfluences of Socio-Economic Status of Married MalesMarketing of Lifeboy Soap A Unilever ProductDefinition of Export QuotasGenetic EngineeringQuebec and CanadaOpen Architechture a white paperBringing Democracy to Africa19 Century Society: A Deeply Divided EraThe Effects of Illegal ImmigrationAssess the importance of Nationalism 1815-1850 Europe

When Is the Next SAT Test Date

When Is the Next SAT Test Date SAT / ACT Prep Online Guides and Tips Here's a guide on when the next SATtest is happening and deadlines for signing up. At this moment, the next SATtest date is October 1, 2016. If you're prepping for the test, maximize your score withour top 5 SATprep strategies. Thenext SATregistration deadline is September 2, 2016. The late deadline, with extra fees, is September20, 2016. Make sure you know how to sign up for the SAT and how much it costs. Scores for the next SATtest will be released October 20,2016. Do you know what a good SAT score is? Make sure you know how high you really need to score. For college applications, it's important to get a great SAT score. Here are our best SAT strategy guides to get you on track to improving your SAT score. How to get a perfect SAT score, by a 2400 scorer Perfect score guides for SAT Reading, SAT Math, and SAT Writing Learn our complete set of SAT grammar rules Make sure you know the best way to study SAT Vocab Want to improve your SAT score by 160 points?We have the industry's leading SAT prep program. Built by Harvard grads and SAT full scorers, the program learns your strengths and weaknesses through advanced statistics, then customizes your prep program to you so you get the most effective prep possible. Check out our 5-day free trial today:

Stop Smoking Essay Example | Topics and Well Written Essays - 1750 words

Stop Smoking - Essay Example Apparently one of the top sellers worldwide are tobacco processing companies. Today and on the past decades, people around the globe felt the addiction of nicotine in cigarettes. Some say they smoke for leisure only, to consume free time, to look cool, or to have something on their mouth to ease salivation, maybe some of them fell to cigarette smoking due to influences by the people surrounding them, and sometimes they smoke only for themselves to feel belongingness to a group. â€Å"So why quit?† one common question mostly thrown by those who smoke to people who is convincing them to stop to. Most smokers, although there are some, do not know what they have been doing to their body and the nature around them by smoking. A person smoking needs to undergo smoking cessation, the process of discontinuing the practice of inhaling smoke, in order to be safe for several health risks and problems in public that may have been caused by smoking. In the U.S. one of five deaths are caused or related to cigarette smoking. The effect of cigarette smoking includes several number of health problems like cancers, lung diseases, heart attacks, strokes and blood vessel ailments, risks to women and babies, or even blindness and death (American Cancer Society). In the late 1990’s, the US CDCP (Centers for Disease Control and Prevention) surveys shows that for every year spent smoking lifespan of a person is decreased. In males there is an average of 13.2 years of life that had been lost by smoking and 14.5 among females. However, people who stop smoking enjoy several health benefits and could live more years than those who keep smoking. Illustration from FakhriRamley.com The picture above illustrates the idea of a cause and effect. The text â€Å"Stop smoking or stop breathing† shown above provides the readers or the viewers the idea to hesitate to smoke. It somehow makes them realize something that may happen unto them upon continuing to smoke, death. The skeleton with a cigarette on its mouth implicates the idea of dying; it is because in general people tend to relate death by skeletons symbolically. It gives the readers/viewers the fear to die and hesitate to smoke. (Illustration from FakhriRamley.com) The colors used in t he above illustration were completely bold and compact. The black and white technique used was to provide emphasis and to conduct a direct focus on the part of the reader/viewer. When you look at the picture, you certainly give your focus on the lit cigarette. It strengthens the presentation of the topic which is smoking mainly. While the big letter â€Å"Q† above strikes the idea to the viewer/reader to quit. It is in a bigger size other than any of the elements found on the illustration above. It represents the range of the topic which is to stop smoking. What You Did. What Must You Do.? The above illustrations convey the presentation of the objective of the topic. The readers/viewers were driven to have the contextual idea or concept of thinking that continuing cigarette smoking could have a very strong impact to their health; that it could cause several ailments and health risks, or even death. The bold colors, sizes and shapes of the pictures provide strong impact on uti lizing the main topic. The technique used was to provide the facts and risks of smoking and to drive the readers/viewers to act accordingly in order to prevent those risks from emerging. Effects of Cigarette Smoking Cigarette smoking†¦ Raises blood pressure Suppresses immune function Reduces stamina May cause gum disease May cause emphysema Wrinkles your skin Very addictive Dulls senses of smell and taste Leads to depression and fatigue May cause heart attacks May cause lung cancer May cause DEATH The information graphics used in this stop smoking topic through the above pictures and table that describes the effects of cigarette smoking and the actions to be done to prevent its effects. Information graphics could provide critical thinking of numbers and analysis process without doing calculations and just

The Bauhaus Research Paper Example | Topics and Well Written Essays - 2000 words

The Bauhaus - Research Paper Example Most of these were political in nature, and this is the difference between the German art of this period, and the one that was being advocated by Walter Gropius. Therefore, the principle of Bauhaus was not political, and this was able to appeal to a large group of people, which in turn led to the embrace of these principles of Bauhaus. Furthermore, the influence of Bauhaus is depicted on the works of William Morris. William Morris denoted that there is no need of creating a boundary between function and form, and art should always carter for the needs of the society. This was a major principle and teachings of art that was advocated by the Bauhaus. Another important achievement of Bauhaus is modernism. Modernism was a cultural movement tracing its origins from the late 1880s. For instance, before the set up of the institution, the principles of functionality, mass production, and the merger of arts, and crafts had began in Germany. These are some of the ideals of Bauhaus. In the year 1907, Deutscher Werkbund, a German national designer’s organization had been formed under the leadership of Herman Muthesius to harness and collect the potentials of mass production with the single aim of maintaining Germans economy in its competitiveness with the English economy. Over the first few years the organization came to be known as the authoritative body on design in within Germany and was emulated by many other countries . The Bauhaus was founded when most of the German designers had moved.

Financial Risk Management in Mauritius Banking Sector

Financial Risk Management in Mauritius Banking Sector During the past 10 years, there have been great changes in the Mauritian banking sector and this is a continuing process that will not stop here. This is mostly because of fast innovations in the financial markets and the internationalization of the financial flows. Other factors like technological development and deregulation have both triggered competitive pressures and also provided new opportunities among banks. But these opportunities are also subject to complex risks that challenge traditional approaches to banking risk management. These factors have influenced the financial world on the international level and the Mauritian banking sector has not been left unaffected. The growth of international financial markets banks have been exposed to a wider access to funds. As a result of which banks have been developing new products, services and techniques. The receipt of deposits and granting of loans, being the traditional banking practice, is today only one part of a banks activities. These new instruments have also drawn interest to areas where financial risks were earlier thought to be relatively unimportant. Hence banks are now exposed to a greater variety of risks and their ability to measure, monitor and steer risks accordingly is becoming a decisive parameter for their survival. The aim of this project is to provide an overview of the management process of financial risks in our Mauritian banking sector as risk is the fundamental element that influences the financial behavior. Banking Risks Banks are faced with a wide array of risks in their course of their operations, as illustrated in the figure below. In general, risks are categorised into three different parts: Financial Risks, Operational Risks and Business Risks. Figure 1: Categories of Banking Risks Banking Risks Financial RisksOperational Risks Business Risks Interest Rate Risk 1) Business Strategy Risk1) Legal Risk. Foreign Exchange Risk 2) Internal System and Operational Risk 2) Policy Risk. Credit Risk 3) Technology Risk 3) Systemic Liquidity Risk 4) Management and Fraud (Country) Risk. Source: Annual Report on Banking Supervision 2000 BOM Financial risk concern the effective management and control of the finances of an organisation and the effects of external factors such as availability of credit, foreign exchange rates, interest rate movement and liquidity risk. For this project only the financial side of Risk Management is going to be considered. Focus will be on the four main types of risks which are: Interest rate Risk is the risk borne by an interest-bearing asset, for example in this case a loan, due to variation in interest rates. Foreign Exchange Risk is a form of risk that crop up due to the change in price of one currency against another. Credit Risk is the risk of loss due to a debtors non-payment of a loan. Liquidity risk is the risk to earnings arising from a banks inability to meet its obligations when they come due. Operational risks are related to a banks overall organisation and functioning of internal systems, including computer-related and other technologies, conformity with bank policies and procedures and measures against mismanagement and fraud. Although these types of risks are important, emphasis will not be put on them in this project. Business risks are associated with a banks business environment, including the macroeconomic and policy concerns, legal and regulatory factors and the overall financial sector infrastructure and payment system. Outline of Chapters Chapter 2:Literature Review This chapter will focus on previous studies and surveys carried out with respect to financial risks encountered by banking institutions around the world. It will also focus on the different techniques used to manage these types of risks. Chapter 3:Overview of the Mauritian Banking Sector This chapter aims at giving an overview of the current Mauritian banking sector and also information pertaining to risk management. Chapter 4:Research Methodology In this chapter an outline of the methods used to collect data and carry out the research is given. The way in which the interview questions have been set and how the data has been analysed using different techniques. Chapter 5: Presentation of findings and Analysis This chapter which is the main one aims at presenting and explaining the answers received from the different interviews and data from the annual reports of banks, in a structured way. Chapter 6: Recommendations and Conclusion This last chapter consists of the suggestions regarding financial risk management for the Mauritian banking sector and also the answer to the main question. 2. LITERATURE REVIEW 2.1 Defining Financial Risks Financial risks in the banking field are the probability that the result of an action or event could bring up unfavorable impacts. Such outcomes could either cause direct loss of earnings or capital or may result in limitations on banks capacity to meet its business objectives. Such constraints pose a risk as these could influence a banks capacity to perform its ongoing business or to take advantage of opportunities to advance its business Risks are frequently defined by the negative impacts on profitability of numerous separate sources of uncertainty. While the types and degree of risks of an organization may be exposed to depend upon a number of factors such as its size, complexity business activities, volume etc, it is believed that generally the banks face Credit, Market, Liquidity, Operational, Legal and Systemic risks etc. 2.2 Definition of Financial Risks as Per Basel II The role of risk management in banking has changed from the simple insurance of identified risks, to a discipline that concentrates on complex econometric and financial model of uncertainty. Financial risk management has been defined by the Basel Committee (2001) as a sequence of four processes: the identification of events into more or broad categories of market, credit, operational and ‘other risks and specific sub-categories; the assessment of risks using data and a risk model; the monitoring and reporting of the risk assessments on a timely basis; and the control of these risks by senior management. The first Basel Accord (1988) analysed only credit risks in the banking book; the Basel Amendment (1996) extended this to market risks in the trading book; and now the new Basel 2 Accord that will be adopted by all G10 and many other countries in 2007 refines credit risk assessments to become more sensitive and extends the calculation of risk capital to include operational risks. 2.3 Distinction between Risk Management and Risk Measurement? Risk measurement is a key part of the general risk management process, but its certainly just one of the parts. Other, similarly key parts include defining risks, setting policy risk limits and guidelines, and taking action when those limits are threatened of being breached. Risk management is as much about people, procedures, and communication, as it is about quantitative methods involved in risk measurement (Suren Markosov, 2001). Risk measurement, however, is important to the success of the risk management process. Part of the risk measurement task is to guarantee that the risk measures being used are suitable to the nature of the risks, and since these risks can be quite various in nature, so can the necessary choices of risk measures. 2.4 Why do Banks manage Risks? The analysis of risk management reported in Santomero (1995) gives us a lists of dozens contributions and at least four separate rationales considered for active risk management. These include managerial self-interest, the non-linearity of the tax structure, the costs of financial distress and the existence of capital market imperfections. Risk is a fundamental part of the banking business, it is not amazing that banks have been using risk management ever since there have been banks the industry could never have survived without it. The only modification is the degree of sophistication now necessary to reflect the new complex and fast moving environment (Laurence H Meyer, 2000). The Asian financial crisis of 1997 has shown us that ignoring necessary risk management can also add to economy-wide difficulties. The long period of extraordinary economic growth and prosperity in Asia had hidden weaknesses in risk management. Many Asian banks did not think about risk or conduct a cash flow analysis before giving way loans, but rather lent on the basis of their relationship with the borrower and the availability of guarantee despite the fact that the security was often hard to seize in the event of default. The result was that loans including loans by foreign banks grew faster than the capacity of the borrowers to repay. Risk management is clearly not free. In fact its expensive in both resources and in institutional disturbance. The cost of delaying or avoiding proper risk management can be extreme: failure of a bank and possibly failure of a banking system (Laurence H Meyer, 2000). 3.4 Determinants of Risks When banks are exposed to risk, this implies that they are vulnerable to financial distress and failure. Determinants of risk are thus causes of problem bank failure. The common causes of bank failure are: Management. Argenti (1984) attributed 17% of his A-scores to management style and composition. He attributed another 71% to accounting deficiencies, poor response to change, over-gearing, over trading and large projects; all of which hinge upon capabilities of management. Arguments that he put forward was that management is the primary and single most important cause of financial distress. Asset quality Loan and advances comprise a substantial portion (50%-80%) of commercial banks total assets and they account for more than 70% of their income. This highlights the banks role as financial intermediary. â€Å"Asset quality is the most important determinant of bank risk exposure†. This was pointed out by Hefferman (2000), Gonzalex-Hermossilo (1999), and Hardy (1998). The asset quality of a bank is affected by various factors such as, over concentration, insider lending and political loans. Over-Expansion Banks that grow quickly tend to have unjustified risks and often find that their administrative and management information system cannot keep up with the rate of expansion. Too much liquidity by way of rapid deposit growth could also be a problem in that management may undertake riskier credit proposals and this will adversely affect the asset quality. Capitalization Capital adequacy ratio is a function of adjusted risk assets. A bank can either maintain this ratio by increasing its capital or reducing of adjusted risk assets. The prime objective of this control is to protect depositors. However Blum (1998) found that with the incentives for asset substitution, capital adequacy requirements may actually increase risk. This was found in the case of J.P Morgan and Deutsche Bank. In Mauritius the BOM has adopted a capital adequacy ratio of 10% to match international standards. Fraud Fraud is one of the key determinants of risk. However it is closely related with the management competence that some fraudulent activities have passed off as incompetence. The BCI and Barings Bank are good examples. 2.5 HOW ARE RISKS MANAGED? As pointed out by Anthony M. Santomero (1997) there need to be essential procedures that must be put in place to carry out satisfactory risk management? In essence, what techniques are employed to both limit and manage the different types of risk, and how are they implemented in each area of risk control? The management of the bank relies on a series of steps to put into operation a risk management system. These can be seen as containing the following four parts: 2.5.1 Standards and reports, 2.5.2 Position limits or rules, 2.5.3 Investment guidelines or strategies, 2.5.4 Incentive contracts and compensation. In general, these tools are used to measure exposure, define procedures to manage these exposures, limit individual positions to acceptable levels, and encourage decision makers to manage risk in a manner that is consistent with the firms goals and objectives (Oldfield and Santomero, 1995). To see how each of these four parts of basic risk management techniques achieves these ends, we elaborate on each part of the process below. 2.5.1 Standards and Reports The first of these risk management techniques involves two unlike conceptual activities, i.e., standard setting and financial reporting (Santomero and Babbel, 1996). They are listed jointly because they are the sine qua non of any risk system. Underwriting standards, risk categorizations, and standards of review are all traditional tools of risk management and control. Consistent evaluation and rating of exposures of various types are essential to understand the risks in the portfolio, and the degree to which these risks must be mitigated or absorbed (Hodgson, 1999). The consistency of financial reporting is the next ingredient. Obviously outside audits, regulatory reports, and rating agency evaluations are necessary for investors to measure asset quality and firm level risk. These reports have long been standardized, for better or worse. However, the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture. Such internal reports need similar standardization and much more frequent reporting intervals, with daily or weekly reports substituting for the quarterly GAAP periodicity. 2.5.2 Position Limits and Rules The use of position limits, and minimum standards for participation can be categorized as a second method for internal control of active management. According to Santomero (1995) risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard. Then, even for those investments that are eligible, limits are compulsory to cover exposures to counterparties, credits, and overall position concentrations relative to various types of risks. While such limits are costly to set up and control, their imposition restricts the risk that can be assumed by any one individual, and therefore by the organization as a whole. In general, each person who can commit capital will have a well-defined limit. This applies to traders, lenders, and portfolio managers. Summary reports show limits as well as current exposure by business unit on a periodic basis. In big organizations with thousands of positions maintained, precise and well-timed reporting is difficult, but even more necessary (Lopez, 2003). 2.5.3 Investment Guidelines and Strategies Investment guidelines and recommended positions for the instant future are the third technique commonly in use. Cummins et al (1998) provide that under this means of management control, strategies are shaped in terms of concentrations and commitments to particular areas of the market, the extent of desired asset-liability mismatching or exposure, and the need to hedge against systematic risk of a particular type. The limits described above show the way to passive risk avoidance and diversification, because managers generally work within position limits and prescribed rules. Beyond this, guidelines offer firm level advice as to the appropriate level of active management, given the state of the market and the willingness of senior management to absorb the risks implied by the combined portfolio. Such guidelines lead to firm level hedging and asset-liability matching. In addition, securitization and even derivative activity are rapidly growing techniques of position management open to participants looking to reduce their exposure to be in line with managements guidelines. 2.5.4 Incentive Schemes Banks can enter incentive compatible contracts with line managers and make compensation linked to the risks assumed by these individuals, and then the need for complex and costly controls is decreased. However, such incentive contracts require precise position valuation and proper internal control systems. Such tools which include position posting, risk analysis, the allocation of costs, and setting of required returns to various parts of the organization are not irrelevant. Despite the complexity, well designed systems align the goals of managers with other stakeholders in a most desirable way. In fact, most financial debacles can be traced to the absence of incentive compatibility, as the cases of the deposit insurance and so clearly illustrate. The association of managerial compensation to book earnings can bring about acquisition of investments with negative convexity, duration mismatch risk, liquidity risk and credit risk, whose book profits are higher than their expected return (Cummins et al., 1998). STRATEGIES USED BY BANKS TO MANAGE RISKS INTEREST RATE RISK All banks face interest rate risk. This type of risks occurs when long term mortgages are funded by short term deposits. Interest rate risk is like the â€Å"blood pressure for banks and is vital for their survival.†(Ron Feldman and Jason Schmidt) Furthermore, according to the Basel Committee (2001) â€Å"interest rate risk is the exposure of a banks financial condition to adverse movements in interest rates. Accepting this risk is a normal part of banking and can be an important source of profitability and shareholder value.† According to the Bank of Jamaica each banking institution needs to establish explicit and prudent interest rate risk limits, and ensure that the level of interest rate risk exposure does not exceed these limits. Interest rate risk limits need to be set within an institutions overall risk profile, which reflects factors such as its capital adequacy, liquidity, credit quality, investment risk and foreign exchange risk. Interest rate positions should be managed within an institutions ability to offset such positions if necessary. Gap analysis, duration analysis and stimulation models are interest rate risk measurement techniques used by the Bank of Jamaica (2005). Each technique provides a different perspective on interest rate risk, has distinct strengths and weaknesses, and is more effective when used in combination with another. Gap Analysis A simple gap analysis measures the difference between the amount of interest-earning assets and interest-bearing liabilities (both on- and off-balance sheet) that reprice in a particular time period. Duration Analysis Duration is the time-weighted average maturity of the present value of the cash flows from assets, liabilities and off-balance sheet items. It measures the relative sensitivity of the value of these instruments to changing interest rates (the average term to repricing), and therefore reflects how changes in interest rates will affect the institutions economic value, that is, the present value of equity. In this context, the maturity of an investment is used to provide an indication of interest rate risk. The longer the term to maturity of an investment, the greater the chance of interest rates movements and, hence, unfavourable price changes. Simulation Models Simulation models are an important complement to gap and duration analysis. Simulation models analyse interest rate risk in a dynamic context. They evaluate interest rate risk arising from both current and future business and provide a way to evaluate the effects of strategies to increase earnings or reduce interest rate risk. Simulation models are also useful tools for strategic planning; they allow a banking institution to effectively integrate risk management and control into the planning process. FOREIGN EXCHANGE RISK It is the current risk to earnings and capital arising from negative movements in currency exchange rates. It refers to the impact of adverse movement in currency exchange rates on the value of open foreign currency position. The use of hedging techniques by the Bank of Jamaica is one means of managing and controlling foreign exchange risk. Many different financial instruments can be used for hedging purposes, the most commonly used, being derivative instruments. Examples include forward foreign exchange contracts, foreign currency futures contracts, foreign currency options, and foreign currency swaps. Generally, few banks will need to use the full range of hedging techniques or instruments. Each bank should consider which ones are necessary for the nature and extent of its foreign exchange activities, the skills and experience of trading staff and management, and the capacity of foreign exchange rate risk reporting and control systems. CREDIT RISK Credit risk is the oldest and important risk which banks exposure and important of credit risk and credit risk management are increasing with time because of some reasons like economic crises and stagnation, company bankruptcies, infraction of rules in company accounting and audits (Dr.Adem Anbar, 2006). For the Norinchukin Bank in Japan (2006), transactions involving credit risk are one of the most important and strategic sources of earnings. In addition to assessments of the risks present in individual loans and other assets, the bank conducts comprehensive risk management from the perspective of its overall credit risk portfolio. In this way, the bank works to generate earnings proportionate with the level of credit risk it takes. While frequently strengthening its credit analysis capabilities, the bank conducts expert checks on the standing of borrowers, taking due account of their characteristics as cooperatives, private corporations, public entities, or non-residents. To conduct credit analysis on private corporations and public corporations, the bank has established the Credit Risk Management Division, which is separate from the Corporate Business Management Strategy Division, to prepare credit analyses by industry, drawing fully on the expertise the bank has historically acquired. To achieve greater accuracy in assessments, each senior credit analyst in charge of a certain industry assesses each client and business through comparisons with competitors in the same business, making use of industry research capabilities. Credit risk is measured for loans, guarantees, foreign exchange and securities, such as corporate bonds, as well as for swaps and other off-balance transactions. Measurement of risk volumes are conducted according to types of transactions partners, including domestic and overseas corporations and financial institutions. Based on estimates of the total credit extended, the bank uses information related to credit risk— such as rating transition ratios that measure the probability of rating changes and are computed based on background history and future business prospects, default ratios by rating, recovery ratios in the event of default and correlations among the creditworthiness of corporations and other entities to conduct tens of thousands of simulated scenarios, under various assumptions regarding defaults and rating changes for its customers and their products—to determine the distribution of potential losses. For the estimated potential losses, the bank calculates two risk volumes: the â€Å"expected loss† that corresponds to the loss that can be expected on average over the next year and the â€Å"probable maximum loss,† which is defined as losses that can be expected under the worst case scenario. This enables the bank to check expected profitability against risk and determine the risk capital to be allocated for each business category. LIQUIDITY RISK Liquidity risk is the risk that could occur if an institution does not have enough funds accessible to meet all its cash outflow obligations as they become due. Liquidity risk management ensures that funds will be available at all times to honour the institutions obligations (Bank of Mauritius). A liquidity risk management involves not only analyzing banks on and off-balance sheet positions to forecast future cash flows but also how the funding condition would be met (Bank of Pakistan). The latter involves identifying the funding market the bank has access, understanding the nature of those markets, evaluating banks current and future use of the market and monitor signs of confidence erosion. Banks use a variety of ratios to quantify liquidity. These ratios can also be used to create limits for liquidity management. However, such ratios would be meaningless unless used regularly and interpreted taking into account qualitative factors. Ratios should always be used in conjunction with more qualitative information about borrowing capacity, such as the likelihood of increased requests for early withdrawals, decreases in credit lines, decreases in transaction size, or shortening of term funds available to the bank. To the extent that any asset-liability management decisions are based on financial ratios, a banks asset-liability managers understand how a ratio is constructed, the range of alternative information that can be placed in the numerator or denominator, and the scope of conclusions that can be drawn from ratios. Because ratio components as calculated by banks are sometimes inconsistent, ratio-based comparisons of institutions or even comparisons of periods at a single institution can be misleading. Cash Flow Ratios and Limits. One of the most serious sources of liquidity risk comes from a banks failure to roll over a maturing liability. Cash flow ratios and limits attempt to measure and control the volume of liabilities maturing during a specified period of time. Liability Concentration Ratios and Limits. Liability concentration ratios and limits help to prevent a bank from relying on too few providers or funding sources. Limits are usually expressed as either a percentage of liquid assets or an absolute amount. Sometimes they are more indirectly expressed as a percentage of deposits, purchased funds, or total liabilities. Other Balance Sheet Ratios. Total loans/total deposits, total loans/total equity capital, borrowed funds/total assets etc are examples of common ratios used by financial institutions to monitor current and potential funding levels. EMPIRICAL EVIDENCE ON FINANCIAL RISK MANAGEMENT TECHNIQUES USED BY BANKS CREDIT RISK MANAGEMENT Credit operations are traditionally the main source of income as well as risks for banks. I am going to elaborate on the result and analysis of market central bank meeting participants carried out by Ramon Moreno in 2005. It was found that 40% of the respondents to his survey cited credit to household as an important source of credit risk. According to Moreno, a distinct increase in credit to the household sector has altered risk exposures and he also found that in some countries there is significant credit risks on the banking book associated with asset price fluctuation for example lending for residential real estate accounts for around 25% of total loans in Hong Kong and Korea, around 19% in Hungary, Poland and Israel, but lower in Colombia and Mexico. Another study carried out by Santomero in 1997 found that banks usually use a credit rating procedure to evaluate investment opportunities in order for credit decisions to be made in a consistent manner and to limit credit risk exposure. By using such a procedure banks were able to monitor the quality of its loan portfolio at any time. It was found that the credit quality report signals changes in expected loan losses, if the system is meaningful. Also many banks are starting to develop concentration reports, indicating industry composition of the loan portfolio. Moody had developed a system of 34 industry groups that may be used to report concentrations. Reports such an industry grouping to illustrate the kind of concentration reports that are emerging as stand in the banking industry. Moreover a credit risk survey study was done in the Turkish Banking by Dr Adem ANBAR, where he found that there is main quantitative credit risk measurer. There are expected loss (EL), unexpected loss (UL) and credit value at risk (CVAR). Although these credit risk measures are used for measuring credit risk of one asset, particularly they are used for measuring portfolio credit risk. Only 35% of the bank used these measures. According to Dr Anbar, 30% of the banks said they measured credit risk using a portfolio credit risk model and software developed mostly by them. Furthermore 95% of the bank used internal credit rating system and a credit scoring model in credit risk analysis. This technique was used to determine credit limits, to determine problematic credit and credit risk measurement. According to the study there are 3 approaches in Basel II for credit measurement. These are Standardised Approach (SA), Foundation Internal Ratings Based Approach (FIRBA), and Advanced Internal Rating Based Approach (AIRBA). It was found that 60% of the banks used the first method and 20% the FIRBA and 20% the AIRBA. Dr Anbar found that in general the tools which are used by Turkish banks are collateral, credit limits and diversification but they dont use methods like loan selling, securitization, credit insurance for transferring credit risk. One reason for that was that these types of methods havent been developed in Turkish sector yet. INTEREST RATE RISK MANAGEMENT The tradition has been for the banking industry to diverge somewhat from other parts of the financial sectors in the treatment of interest rate risk. According to Santomero (1997) institutions that do not have active trading businesses, value-at-risk has become the standard approach. Many firms use this model but in some cases it is still in an implementation process. According to his analysis, commercial banks tend not to use market value reports and guidelines but rather, their approach relies on cash flow and bank values. This system has been traditionally been known as the GAP reporting system. This system has been supplemented with a duration analysis. (Hempel, Simonson and Coleman, 1994) Most banks, however have attempted to move beyond this gap methodology, they have concluded that the gap and duration reports are static and do not fit well with the dynamic nature of the banking market. Furthermore, according to the survey, many banks are using balance sheet simulation models to find the effect of interest rate variation on reported earnings overtime. This system requires relatively informed repricing schedules as well as estimates of prepayments and cash flows. The simulation system being completed, reports the resultant derivations in earnings associated with the rate scenarios considered. Officials then make use of cash, futures and swaps to reduce this risk. 2.7.3 LIQUIDITY RISK MANAGEMENT The liquidity risk that does present a real challenge is the need for funding when and if a sudden crisis arises. Standard reports on liquid assets and open lines of credit, which are germane to the first type of li

Adavantages of Management Accounting Information

Advantages of management accounting information The provision of management accounting information are for the intention of planning, control and decision making which may contribute to the success of an organization. Management accounting is the process of gathering information about economic activity that will be advantageous for the organization.For the planning of an organization, the manager can use the historical, present and future information obtained from management accounting which based on the organization’s situation and position in predicting organization’s future needs, setting clearer objective and implementing specific strategies that can bring achievement to the organization. After interpreting relevant management accounting information provided, it will be more efficient for the organization to apply and realize their planning and objective that had been set earlier.For the planning of an organization, the manager can use the historical, present and fu ture information obtained from management accounting which based on the organization’s situation and position in predicting organization’s future needs, setting clearer objective and implementing specific strategies that can bring achievement to the organization. After interpreting relevant management accounting information provided, it will be more efficient for the organization to apply and realize their planning and objective that had been set earlier.Management accounting able to assists the manager in controlling organization’s cash flow and improve financial stability which included the costs and business operational expenses. With the management accounting information obtained, the manager is able to review the cost of economic resources and other business operations. Therefore, the manager is clearer and familiar with the estimation of cost needed to run the business. Manager can analyze the quality of economic resources consumed in producing goods by us ing the management accounting information.As an example, if the overall quality of product would not be affected significantly by replacing with cheaper raw material, the manager can change towards a reduction of production costs. Budgeting is considered as major part of management accounting. To create an effective financial plan with lower operational expenses, manager able to analyze necessary and unnecessary business expenses based on the budget plan obtained from management accounting information in the pathway of saving money for the organization. In ontrast, there is also some limitation of management accounting information which based on financial and cost accounting. The interpretation of financial information usually depends on the interpreters’ judgments. The accuracy of decision mostly will be affected by their personal bias or prejudices. Manager usually uses management accounting information as a decision-making tool. This is because management accounting inform ation consists of specific and accurate details related to different competitors, market and industry the organization involved.With the analyzed data such as competitive advantages, consumers’ demand, potential sales and consumers’ response to price change, manager is able to make decision among all other business opportunities. In contrary, there are some limitations of the management accounting information. The quality of the information is restricted with the proper understanding and knowledge of the management accountants who provided the information.They may be lack of knowledge in related subject such as Statistic and economics, thus it will lead to inaccurate management accounting information. In conclusion, it is foreseeable that management accounting information is important and can be known as a business tool for the organization although it may has some limitations. But, it can also overcome by applying expertise and professional training for every level of management in the organization.Therefore, the information still able to assists in internal operation management of an organization. Furthermore, all decisions of the organization rely heavily management accounting information due to the reason it identifies all the factors that will affect the organization to succeed. ABMC 2023 MANAGEMENT ACCOUNTING FUNDAMENTALS TUTORIAL GROUP: 2DAC4 WORD COUNT: 2997 NAME| STUDENT ID| KHOR SEONG SENG| 11PBD05485| KHOR PEI CHIEN| 11PBD03114| KHOR SHER LEE| 11PBD06416| ONG KAR SIN| 11PBD03057| YE YUN SHENG| 11PBD04700|