Is Communication Inevitable free essay sample

What is communication? There are many meanings that can be given to communication. People always give their own meaning for communication. Communication is like a double-acting hinge, swinging outward to release your own ideas and swinging inward to receive the worthy thoughts of others. (Huish,S.) Communication is the process by which a person, group, or organization transmits some type of information to another person, group, or organizations. Is communication inevitable? Communication is something that takes place every minute in our daily lives. It is very difficult for somebody to pass a day without communication. Communication can take place verbally and non-verbally; so however it happens communication is still taking place. Communication is inevitable because communication happen even if we want it to happen or not, communication must take place whether it is verbal, nonverbal or both and communication is something that places a vital role in our life. Firstly, communication is inevitable because communication happen even if we want it to happen or not. We will write a custom essay sample on Is Communication Inevitable or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Communication is something that takes place without we even noticing it sometimes. Sometime we go through things in our daily lives that discourage from communicating; no matter what we do you will have to communicate. People try to fight from communicating with others but it is really difficult. Is it possible for someone to go a day without communicating? This is really a tricky question. Communication is something that is really hard to run from. Everybody use communication in their daily life, it might not happen every minutes but eh do happen in their daily bases. Secondly, communication is inevitable because it must take place whether it is verbal, nonverbal or both. Verbal communication is the transmission of messages using words, either written or spoken. Nonverbal communication is the transmission of messages without the use of words. An example of verbal communication would be like say Hi, Bye or Hello and some example of nonverbal communication would be like waving your hand, smiling or nodding your head. Sometimes when people communicate they would  prefer to communicate both verbal and nonverbal. They find it more effective and understandable. When some people communicate using nonverbal communication the message is sometimes interpret the wrong way. Thirdly, communication is something that places a vital role in our life. Communication is something that must take place in our life. We can’t live our daily live without communicating. Communication takes place at home, school, work place and more. Communication is important, not communication is like not having a life, and you can’t live without it. Communication plays a vital role in our life because it helps us to learn, understand, and achieve different things. To conclude, communication is important and no matter what we do we can’t avoid from communicating with others. Everybody communication in their daily lives and it can happen verbally, nonverbally or both. Communication is just sending message from one person to the other. Communication is inevitable because communication happen even if we want it to happen or not, communication must take place whether it is verbal, nonverbal or both and communication is something that places a vital role in our life. Always remember that whatever you do that you can never escape from communicating with other. You will always have to communicate even though you wish not to.

HCA Hospitals Essays

Medicare Fraud Scandal with the Columbia/HCA Hospitals Essays Medicare Fraud Scandal with the Columbia/HCA Hospitals Paper Medicare Fraud Scandal with the Columbia/HCA Hospitals Paper One of the most pressing issues affecting the health sector is Medicare fraud. Based on the events that rocked the health community, which involved Columbia Health Hospitals, America has decided that it is high time to pay closer attention to one of the reasons why the Medicare is bleeding to death. This paper will try to look into the events that shaped the most controversial and biggest Medicare scandal that has awakened government to act before it is too late. To assist the readers, this paper will be divided into several parts: (a) Background of the paper where information about the case being examined will be provided. In addition, an introduction of the major issue(s) to be analyzed will also be presented; (b) Analysis Section will provide a detailed analysis of the situation(s) being examined and will outline recommendations for how the issue(s) could have been handled more effectively; finally, the (c) conclusion section where we will try to summarize the purpose of the project, the issue(s) examined and the major findings/conclusions/recommendations. II. Background For this particular paper, we will look into the kind of fraud that Columbia allegedly committed against Medicare and its members. To do so, we will need to first define what fraud is and how it is particularly committed. More importantly, we will look into how Columbia/HCA Hospitals allegedly committed the fraud and how it ultimately affected the American public as well as the American government. One fateful day in July of 1997, a series of raid launched by the government against a particular hospital conglomerate shocked America’s health care system and brought into the nation’s attention one of the biggest scandal that involved Medicare benefits of Americans. https://healtheappointments.com/private-hospital-vs-public-hospitals-essays/ In a raid conducted by federal and state agents, the main target was Columbia/ HCA hospitals in Florida. At issue were allegations that Columbia had defrauded Medicare, the deferral health insurance for the elderly and the disabled. Medicare was created by Congress in 1965 as a means to provide health benefits to Americans over the age of 65 and for the seriously disabled. In the beginning, it was said that Medicare had no effective cost control and while it did help the people it was meant to help (i. e. the elderly and the disabled), it also cost Uncle Sam a lot of taxpayer’s money. In the beginning, hospitals were reimbursed on a cost plus basis meaning that Medicare paid for the cost of service plus a fee for administrative overhead. However, in 1983, Congress passed the first significant effort to curb the skyrocketing costs of Medicare. Congress adopted a payment system based on diagnostic related groups (DRGs). Under the DRG system, hospitals would be paid per admission with an amount determined by the diagnosis instead of per day or per service. This new system helped check increasing Medicare costs but it also hurt hospitals and made them bleed profusely –at least on financial aspect. And while many hospitals saw this new change as a disadvantage, Columbia/HCA had another vision. They saw this new change as a way to increase their profits, albeit in a more fraudulent manner. In 1997, investigations were underway with regard to the alleged fraud practices employed by Columbia against Medicare. At issue in the investigation were several possibly fraudulent practices by Columbia/HCA and its managers. Among these were upcoding, cost shifting, unethical practices to pressure acquisition targets, and financial relationships with doctors. III. Analysis First things first: what is fraud and what act or acts constitutes fraud? When does one commit fraud? According to the definition of the Department of Health and Human Services, fraud is the intentional deception or misrepresentation that an individual knows to be false or does not believe to be true and makes, knowing that the deception could result in some unauthorized benefit to himself/herself or some other person. The most frequent kind of fraud arises from a false statement or misrepresentation made, or caused to be made, that is material to entitlement or payment under the Medicare program. The violator may a physician or other practitioner, a hospital or other institutional provider, a clinical laboratory or other supplier, an employee of any provider, a billing service, beneficiary, Medicare carrier employee or any person in a position to file a claim for Medicare benefits. Under the broad definition of fraud are other violations, including: the offering or acceptance of kickbacks, and the routine waiver of co-payments. According to the Find Law website, fraud schemes range from those perpetrated by individuals acting alone to broad-based activities by institutions or groups of individuals, sometimes employing sophisticated telemarketing and other promotional techniques to lure consumers into serving as the unwitting tools in the schemes. Seldom do perpetrators target only one insurer or either the public or private sector exclusively. Rather, most are found to be defrauding several private and public sector victims, such as Medicare, simultaneously. In Medicare, the most common forms of fraud include: Billing for services not furnished Misrepresenting the diagnosis to justify payment Soliciting, offering, or receiving a kickback Unbundling or exploding charges Falsifying certificates of medical necessity, plans of treatment, and medical records to justify payment Billing for a service not furnished as billed; i. e. , upcoding (Find Law, 1998) Now that we have an idea of what constitutes fraud, particularly the kind that can be committed against Medicare, we can now look more closely into the case that involved Columbia/HCA hospitals. Unlike many hospitals, Columbia/ HCA hospitals were obviously managed by a profit-oriented leader who put more emphasis on the money-yielding power of health care instead of the healing and caring aspect of the business. One key element that could have fostered the fraudulent behavior of the Columbia/HCA management is the company’s strategy of doctor ownership. Doctors were given the opportunity to become shareholders in the company –thus giving motivations to physicians to refer patients to its hospitals instead of its competitors. Moreover, as shareholders of the hospital, doctors had more incentives to hold down costs or to comply with managerial directives. It is, thus, not surprising to see how fraud could happen in such an environment. If doctors and hospitals are in it for the money, then there is no limit as to what they can do to get more financially. Just looking at the company vision or strategy of Columbia/HCA hospitals, we will see that ethics is clearly absent in the vision of management. Instead of aiming to provide quality health care to its patients, the doctors and management of Columbia/HCA are more interested in gaining more profit for the hospital and the corporation instead of giving excellent health care. While this may not be a bad gesture in the over all scheme of things, it still says a lot about the ethics of Columbia management. It would seem that the managers and doctors have lost the essence of their profession. Let me qualify that there is nothing evil in wanting to work for money. What constitutes evil is applying fraudulent means to get more profit. Now that we have an idea of what the problem is and where it lies, one recommendation that can be forwarded is the strengthening of ethics and values formation in the medical community. Doctors as well as everyone involved in the medical profession should understand that medicine is a calling, a vocation where money should come secondary to quality health care. Second recommendation would be to pressure government into providing stricter procedure for health care, particularly for Medicare. As noted by the Concord Coalition website, wherever medical guidelines are hazy and judgment calls are required, it tries to ration claims through arbitrary rules, creating a feast-or-famine reimbursement policy. It imposes huge compliance costs and produces capricious results. Worst of all, despite the estimated 45,000 pages of regulations, the system careens toward bankruptcy as costs keep rising. (Concord Coalition, 1997) More importantly, it is important to set harsher penalties for Medicare fraud cases. This is to ensure that hospitals like Columbia/HCA will learn from their mistakes and will serve as an example to all. Penalties must send the message that fraudulent acts will not go punished and will be dealt with severely by the government. IV. Conclusion It goes without saying that the controversy surrounding Medicare, Columbia/HCA, and the health system in general is a disease that needs immediate diagnosis. The purpose of this paper is to heighten awareness of the problem affecting our health care industry with the ultimate goal of finding the perfect solution to the problem. Needless to say, Medicare fraud hurts not just the beneficiaries or the members but the taxpayers in general. In other words, it affects all Americans. The raids that took place in the hospitals of Columbia/HCA should serve as a reminder that criminal acts will, sooner or later, be revealed and perpetrators will be brought to justice. In addition, we have learned from the case presented to us, that there is still need for improvement in terms of implementing the Medicare system. More importantly, we have seen that ethics plays a huge part in the Medicare scandal. It would seem that the management behind Columbia/HCA has forgotten the real reason behind their organization. It is the belief of this author that a strengthening of ethics formation in the medical community will help in changing the tides of Medicare fraud. References: Find Law, 1998: Medicare Definition of Fraud [online] Available at: http://library. findlaw. com/1998/Feb/19/131383. html [cited on: June 14, 2006] Kansas Medicare, 2006: Medicare Fraud [online] Available at: kansasmedicare. com/policy/fraud. htm [cited on: June 14, 2006] Medicare, 2005: Medicare Fraud [online] Available at: medicare. gov/FraudAbuse/Overview. asp [cited on: June 14, 2006] Mutual Medicare, 2006: Help Reduce the Impact of Medicare Fraud [online] Available at: mutualmedicare. com/fraud/ [cited on: June 14, 2006] Senior Health, 2006: Medicare Fraud and Abuse Detection and Prevention Tips [online] Available at: http://seniorhealth. about. com/library/medicare/blfraud. htm? once=true [cited on: June 14, 2006] The Concord Coalition, 1997: Medicare Fraud: A Symptom, Not the Disease [online] Available at: concordcoalition. org/facing-facts/ff_fax42. html [cited on: June 14, 2006] The Qui Tam Online Network, 2006: Common Types of Qui Tam Fraud [online] Available at: quitamonline. com/fraud. html [cited on: June 14, 2006] United Government Services, 2006: Fraud and Abuse [online] Available at: ugsmedicare. com/about_ugs/fraud_abuse. asp [cited on: June 14, 2006]

How to Prepare for SAT Essay [Ultimate Guide]

How to Prepare for SAT Essay [Ultimate Guide] If college is like the mansion of your future opportunities, your SAT score is like the padlock on the front door. Not to freak you out or anything, but getting a good SAT can mean the difference between being accepted at the college of your dreams or spending the next two years doing night classes at your local community school. And, while you might be able to muddle your way through the math and multiple-choice tests, you can’t fake a good SAT essay. Here are some of the best tools and tricks to nail your SAT essay writing and get a high score. With a little hard work and preparation, you can dominate your SAT essay without even breaking a sweat. Prepare with Literature Before you ever step into the testing room, you need to have read some things. Not only will this help with your essay, but it will give you additional insight when doing the English part of the multiple-choice test. The more literature you’re familiar with, the stronger you can make your case. That doesn’t mean you have to read everything in the world. Simply read and understand and handful of very versatile books and you can use them to support your essay no matter what the topic. Some excellent books include: To Kill a Mockingbird, Harper Lee Hamlet, William Shakespeare Night, Elie Wiesel Pride and Prejudice, Jane Austen The Old Man and the Sea, Ernest Hemingway The Scarlet Letter, Nathaniel Hawthorne Understand the SAT Essay Rules and Format First of all, you need to make sure that you’re following the simple rules so that your essay doesn’t get disqualified. This means: Bringing a pencil to write with. All essays in pen will be thrown away. Write only on your answer sheet. If you write in your test booklet, you will receive a zero. Don’t cheat! The test board computer scores your tests, comparing them with 10,000 others. They will catch you if you cheat. Read the Instructions It seems simple, but it’s the area that most often disqualifies an SAT test taker. According to the CollegeBoard, â€Å"An off-topic essay will receive a score of zero.† That means that if you don’t read the prompt correctly and specifically answer the question at hand, you are flirting with a no-score paper. Here’s a typical prompt from the SAT essay section: You have twenty-five minutes to write an essay on the topic assigned below. Think carefully about the issue presented in the following excerpt and the assignment below. â€Å"Many persons believe that to move up the ladder of success and achievement, they must forget the past, repress it, and relinquish it. But others have just the opposite view. They see old memories as a chance to reckon with the past and integrate past and present.† Adapted from Sara Lawrence-Lightfoot, Ive Known Rivers: Lives of Loss and Liberation Assignment: Do memories hinder or help people in their effort to learn from the past and succeed in the present? Plan and write an essay in which you develop your point of view on this issue. Support your position with reasoning and examples taken from your reading, studies, experience, or observations. The things to remember are: You have 25 minutes to complete every part of the essay. That means, you need to complete your pre-writing (brainstorming, notes, etc) in about 5 minutes so you have time to physically write your essay. You need to understand the quote. This is a quote about the value of the past on a person’s future. Start thinking now of books, stories, and ideas about the topic. You need to have a point of view. That means you need to express an opinion and support it with evidence. Write a Thesis with Words from the Prompt You only have 10 minutes, so use your prewriting time effectively. On your essay directions page, circle the main question that needs to be answered in the prompt. Also, determine if this is an explanatory essay or argumentative essay. Now, write a thesis statement that will provide a guide for your essay using important words in the prompt. Circle these words quickly while you’re reading the prompt so you can find them faster. For the prompt above, a possible thesis statement might be something like: Memories can be effective learning tools, but only if we don’t allow them to drag our behavior into the past. Clearly, this statement answers the question using words from the prompt, but it also shows that the writer has some depth of thought and will be developing this idea for the reader. Create Two Supporting Paragraphs Using Evidence Now, you need to write two supporting paragraphs that develop your point of view. These need to follow the directions to the letter. That means, if they ask you for personal experiences and reading to support your ideas, you need to include both. Introduce your evidence and then explain how it answers the question. For example, the explanation for each sentence of evidence is in bold: When I was younger, I spent some time in jail. Although it taught me a lot about the effect a simple act can have on an entire life, I can’t spend my time dwelling on it. The past is only a helpful learning tool if you can gain wisdom without repeating the mistake that taught you that wisdom. In Hamlet, that same lesson is taught to the audience as they see Hamlet repeating the mistake to avoid taking action by avenging his father’s death. The result is not only that Hamlet doesn’t learn his lesson until it’s too late, but that his inability to learn from his past causes harm to everyone around him. Write a Conclusion If you leave your essay without a conclusion, it is likely to get scored far lower than you deserve. You need at least one or two sentences that sum up your ideas and leave the reader thinking. Make a statement about how this idea can affect the future, talk about importance of the subject, or show how this topic applies to you. The idea is to be interesting, provocative, and committed to your point of view. 6 Things You Should Never Do Even a person who does all of these things can get marked down for sloppy writing and poor writing style. Here are some things to avoid at all costs: Sloppy Handwriting. Write neatly so that everyone can read – not too small or too big. Using Ostentatious Words. That means â€Å"overinflated language.† Write like you talk. Using Slang or Cussing. So, write like you’d talk if you were in a high-profile job interview. Being Overly Creative. The goal is to see if you can write a simple essay. Don’t rap or write poetry. Writing concluding statements at the end of body paragraphs. It’s just not necessary. Overusing Adjectives and Adverbs. It’s really, superbly, undeniably, not even remotely effective. Using the Same Sentence Structure Every Time. Vary your sentence length. If you have any other tips on SAT essay to add, or want to share your experience you are welcome to leave the comments!

Genetically Modified Crops) Research Paper Example | Topics and Well Written Essays - 750 words

Genetically Modified Crops) - Research Paper Example When it comes to food, one has to be absolutely sure about safety and health of human beings. Absence of surety makes GMC unsafe for human health. There are also risks that some genetically modified crops can increase resistance of different antibiotics and this can lead to health issues (Conway, 2000). This type of resistance can render any antibiotic useless and can prolong illness. In genetically mutated crop, different genes are artificially introduced and some of these genes can increase resistance to important medicines like antibiotics. Genetically modified crops are also unpredictable because no one knows how they will be reacting with natural human genes and our bodily function. The pose risk to human health because modified genes can react with human body and lead to health issues and other types of illnesses. GMC has also been found to produce health defects and organ failures in animal testing (Dona & Nitoyannis, 2009). This is also a significant reason to worry about genetically modified food and crop. Animal testing has showed its dangers and therefore it is only logical to assume that these crops might also pose risk of organ failures in human beings. One of the main benefits if genetically modified crops is that that it can end famine and shortage of food problem from the developing countries. Most developing countries face shortage of food and this can be eradicated through use of genetically modified crop as it increases efficiency of crops and make it more resistant to pests. Genetically mutated crops can also help farmers of developing countries where soil is not fertile enough to sustain good crop yields. Through these crops, farmers can increase their output which can in turn lead to prosperity for farmers. There are also economic benefits of the crop as it offers protection from pests. Farmers can save significant amount of money on pesticides. Also these crops increase output and this makes it more economical

Compare and contrast psychoanalytical and humanistic explanations of Essay

Compare and contrast psychoanalytical and humanistic explanations of personality - Essay Example se personality approaches in regards to their comparative and contrasting elements, with specific emphasis on their theoretical foundations and developmental elements. Sigmund Freud wasn’t the first to investigate the philosophical ramifications of the unconscious, but his early 20th century psychological examinations and development of psychoanalysis make him the progenitor of the psychodynamic personality theory (Griggs 2008). While psychoanalysis has been extended into a broad range of analytic fields, most notably literature, its implications for personality theory have largely been linked to his theories regarding the unconscious or childhood development (Elliot 2002). Most individuals are familiar with Freud’s characterization of the personality as differentiated into three categories of ego, super-ego, and id. When considering the relevancy for this personality theory it’s important to note that Freud believed that the conscious elements represented by the ego in certain situations experienced cognitive overload resulting in repression as a protective mechanism affecting the personality in later life. Psychodynamic personality theory understands personality as rooted in the complex interaction of conscious and unconscious forces governing the individual’s actions. In examining the psychodynamic aspects of personality theory, considering it in terms of therapeutic processes reveals its foundational theoretical perspectives. While psychodynamic personality approaches have been practiced for nearly a century and have engendered a number of therapeutic techniques, two of the most predominant techniques are free association and dream interpretation. In free association the patient is encouraged to freely express their thoughts while the therapist examines their narrative descriptions for its underlining subconscious motivation; similarly dream interpretation is a method used by the therapist as a means of direct access to unconscious impulses. A number

Business Financing and the Capital Structure Essay Example for Free

Business Financing and the Capital Structure Essay Explain the process of financial planning used to estimate asset investment requirements for a corporation. Explain the concept of working capital management. Identify and briefly describe several financial instruments that are used as marketable securities to park excess cash. As a business owner, it is important to know the value of your assets as they can be used as leverage for obtaining loans and can be used to estimate your ability to repay your debts. Calculate your current assets, long-term investments, fixed assets and intangible assets and add them up to get your total business assets. Pledgeable assets support more borrowing, which allows for further investment in pledgeable assets. The trade-off between liquidation costs and underinvestment costs implies that low-liquidity firms exhibit negative investment sensitivities to liquid funds, whereas high-liquidity firms have positive sensitivities. If real assets are not divisible in liquidation, firms with high financial liquidity optimally avoid external financing and instead cut new investment. If real assets are divisible, firms use external financing, which implies a lower sensitivity. In addition, asset redeployability decreases the investment sensitivity. Financial management includes management of assets and liabilities in the long run and the short run. The management of fixed and current assets, however, differs in three important ways: Firstly, in managing fixed assets, time is very important; consequently discounting and compounding aspects of time element play an important role in capital budgeting and a minor one in the management of current assets. Secondly, the large holdings of current assets, especially cash, strengthen firm’s liquidity position but it also reduces its overall profitability. Thirdly, the level of fixed as well as current assets depends upon the expected sales, but it is only the current assets, which can be adjusted with sales fluctuation in the short run. Marketable securities replenish cash quickly and earn higher returns than cash, but come with risks; maturity, yield, and liquidity should be considered. Marketable securities are the securities that can be easily liquidated without any delay at a reasonable price. Firms will maintain levels of marketable securities to ensure that they are able to quickly replenish cash balances and to obtain higher returns than is possible by maintaining cash. There are four factors that influence the choice of  marketable securities. These include risks, maturity, yield, and liquidity. Assume that you are financial advisor to a business. Describe the advice that you would give to the client for raising business capital using both debt and equity options in today’s economy. Some business owners say ratios are an accountants problem. Thats not smart, says Dileep Rao, president of Minneapolis InterFinance Corp, a venture-finance consulting firm, and professor at the University of Minnesotas Carlson School of Management. Running your business without knowing your numbers is like driving a car without being able to see your direction or speed, says Rao. Its only a matter of time before you crash.(Rao, 2011) The terms debt and equity get tossed around so casually that its worth reviewing their meanings. Debt financing refers to money raised through some sort of loan, usually for a single purpose over a defined period of time, and usually secured by some sort of collateral. Equity financing can be a founders money invested in the business or cash from angel investors, venture capital firms, or, rarely, a government-backed community development agency—all in exchange for a portion of ownership, and therefore a share in any profits. Equity typically becomes a source of long-term, general-use funds. The share of any hard assets, such as property and equipment, that you own free and clear also counts as equity. Striking the right balance between debt and equity financing means weighing the costs and benefits of each, making sure youre not sticking your company with debt you cant afford to repay and minimizing the cost of capital. Choosing debt forces you to manage for cash flow, while, in a perfect world, taking on equity means youre placing a priority on growth. But in todays credit markets, raising equity may simply mean you cant borrow any more. Until recently, bank credit was a financing mainstay. But experiences like Flipses underlie a point made by the Federal Reserve Boards quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices, released in November. According to loan officers, small-company borrowers were tapping sources of funding other than banks. They were being driven away for many reasons. Banks continued to tighten standards and termson all major types of loans to businesses, though fewer were doing so than in late 2008, when tightening was nearly universal. Interest rates on small business loans were on the rise at 40% of the banks surveyed, even as the prime rate reached historic lows. One in five banks had reduced small  companies revolving credit lines. One in three had tightened their loan standards, and 40% had tightened collateral requirements. Partly because of the plunging value of the real estate securing many commercial loans, pressure from bank examiners for tighter standards continued to build. Meanwhile, home equity loans, another popular source of small business cash, had evaporated. Many recession-weary business owners knew they had essentially become unbankable: Loan officers surveyed said far fewer firms were seeking to borrow. Those few who could borrow were repelled by higher rates. All of a sudden, equity financing looked better. Explain why a b usiness may decide to seek capital from a foreign investor indicating the risk and rewards for such a decision. Provide support for rationale. Many investors choose to place a portion of their portfolios in foreign securities. This decision involves an analysis of various mutual funds, exchange-traded funds (ETF), or stock and bond offerings. However, investors often neglect an important first step in the process of international investing. When done properly, the decision to invest overseas begins with a determination of the riskiness of the investment climate in the country under consideration. Country risk refers to the economic, political and business risks that are unique to a specific country, and that might result in unexpected investment losses. This article will examine the concept of country risk and how it can be analyzed by investors. There are many excellent sources of information on the economic and political climate of foreign countries. Newspapers, such as the New York Times, the Wall Street Journal and the Financial Times dedicate significant coverage to overseas events. There are also many excellent weekly magazines covering international economics and politics; the Economist is generally considered to be the standard bearer among weekly publications. For those seeking more in-depth coverage of a particular country or region, two excellent sources of objective, comprehensive country information are the Economist Intelligence Unit and the Central Intelligence Agency (CIA) World Fact Book. Either of these resources provides an investor with a broad overview of the economic, political, demographic and social climate of a country. The Economist Intelligence Unit also provides ratings for most of the worlds countries. These ratings can be used to supplement those issued by Moodys,  SP, and the other traditional ratings agencies. Finally, the internet provides access to a host of information, including international editions of many foreign newspapers and magazines. Reviewing locally produced news sources can sometimes provide a different perspective on the attractiveness of a country under consideration for investment. It is important to remember that diversification, which is a fundamental principle of domestic investing, is even more important when investing internationally. Choosing to invest an entire portfolio in a single country is not prudent. In a broadly diversified global portfolio, investments should be allocated among developed, emerging and perhaps frontier markets. Even in a more concentrated portfolio, investments should still be spread among several countries in order to maximize diversification and minimize risk. After the decision on where to invest has been made, an investor has to decide what investment vehicles he or she wishes to invest in. Investment options include sovereign debt, stocks or bonds of companies domiciled in the country(s) chosen, stocks or bonds of a U.S.-based company that derives a significant portion of its revenues from the country(s) selected, or an internationally focused exchange-traded fund (ETF) or mutual fund. The choice of investment vehicle is dependent upon each investors individual knowledge, experience, risk profile and return objectives. When in doubt, it may make sense to start out by taking less risk; more risk can always be added to the portfolio at a later date. In addition to thoroughly researching prospective investments, an international investor also needs to monitor his or her portfolio and adjust holdings as conditions dictate. As in the U.S., economic conditions overseas are constantly evolving, and political situations abroad can change quickly, particularly in emerging or frontier markets (Forbes, 2011). Situations that once seemed promising may no longer be so, and countries that once seemed too risky might now be viable investment candidates. Explain the historical relationships between risk and return for common stocks versus corporate bonds. Explain how diversification helps in risk reduction in a portfolio. Support response with actual data and concepts learned in this course. Portfolio diversification is the means by which investors minimize or eliminate their exposure to company-specific risk, minimize or reduce  systematic risk and moderate the short-term effects of individual asset class performance on portfolio value. In a well-conceived portfolio, this can be accomplished at a minimal cost in terms of expected return. Such a portfolio would be considered to be a well-diversified. Although the concepts relevant to portfolio diversification are customarily explained with respect to the stock markets, the same underlying principals apply to all types of investments. For example, corporate bonds have specific risk that can be diversified away in the same manner as that of stocks. Bonds issued by companies represent the largest of the bond markets, bigger than U.S. Treasury bonds, municipal bonds, or securities offered by federal agencies (Worldbank, 2013). The risk associated with corporate bonds depends on the financial stability and performance of the company issuing the bonds, because if the company goes bankrupt it may not be able to repay the value of the bond, or any return on investment. Assess the risk by checking the company’s credit rating with ratings agencies such as Moodys and Standard Poor’s. Good ratings are not guarantees, however, as a company may show an excellent credit record until the day before filing for bankruptcy. When you purchase stock in a company during a public offering, you become a shareholder in the company. Some companies pay dividends to shareholders based on the number of shares held, and this is one form of return on investment. Another is the profit realized by trading on the stock exchange, provided you sell the shares at a higher price than you paid for them. The risks of owning common stock include the possible loss of any projected profit, as well as the money paid for the shares, if the share price drops below the original price. Corporate bonds hold the lowest risk of the three types of investments, provided you choose the right company in which to invest. The main reason for this is that in the event of bankruptcy, corporate bond holders have a stronger claim to payment than holders of common or preferred stocks. Bonds carry the risk of a lower return on investment, as the performance of stocks is generally better. Common stocks carry the highest risk, because holders are last to be paid in the event of bankruptcy. Preferred stocks generally have higher yields than corporate bonds, lower risk than common stocks, and a better claim to payment in the event of bankruptcy. References Dileep Rao. 2011, â€Å"InterFinance † Cambridge, Massachusetts, The MIT Press. Forbes. 2011, Small Business Loans: A Great Option . Retrieved on 6/19/2013 from http://www.forbes.com/sites/ryancaldbeck/2012/11/14/small-business-loans-a-great-option-unless-you-actually-need-money/ Foreign direct investment, net inflows (BoP, current US$) | Data | Table . Data.worldbank.org. Retrieved 6/19/2013 from http://data.worldbank.org/indicator/BX.KLT.DINV

Comparing O Briens The Things They Carried and Ninhs The Sorrow of W

Comparing O' Brien's The Things They Carried and Ninh's The Sorrow of War  Ã‚        Ã‚   Bao Ninh's The Sorrow of War is a contrapuntal reading to American literature on the Vietnam War. But rather than stand in stark contrast to Tim O' Brien's The Things They Carried, The Sorrow of War is strangely similar, yet different at the same time. From a post-colonialist standpoint, one must take in account both works to get an accurate image of the war. The Sorrow of War is an excellent counterpoint because it is truthful. Tim O' Brien writes: ". . . you can tell a true war story by its absolute and uncompromising allegiance to obscenity and evil." (O' Brien, 42) Bao Ninh succeeds in this respect. And it was for this reason that the Vietnamese government initially banned The Sorrow of War. A thorough textual and historical examination of both the war and post-war experience of Vietnam reveals that its experience was similar to, if not worse than, that of America. One of the more remarkable counterpoints of Kien/Boa Ninh's war experience is his view of American soldiers. For him, they were horrific, powerful, and inhuman. To American soldiers, the war was a journey into a strange world where snipers hid behind every bush. North Vietnamese soldiers had already fought for fifteen years and seen the country ripped apart. Now they were to go up against hundreds of thousands of fresh troops from the world's technological superpower. A little more frightening. This historical aspect is reflected in the text. For Bao Ninh, the enemy was not always a man that could only kill other men. "The diamond-shaped grass clearing was piled high with bodies killed by helicopter gunships. Broken bodies, bodies blown apart, bodies vaporized." (Ninh, 5) How... ...sided fashion, one in which we have no sorrow for the "communists." But what we see is that Vietnamese soldiers were not fighting for communism, they were fighting because the government ordered them to. "The ones who loved war were not the young men but the others like the politicians, middle-aged men with fat bellies and short legs." (75) Repeatedly The Sorrow of War reveals the deep suffering of Vietnam. One can not say, however, that American soldiers returned unscathed. The most important thing we see when we read the two aforementioned works is not the differences, but the similarities. War is hellish and unnatural for both sides. In the aftermath, our common humanity becomes evident in universal suffering.    Works Cited: Ninh, Bao The Sorrow of WarNew York: Riverhead Books 1993 O'Brien, Tim The Things They Carried New York: Penguin Books 1990

Analysis of Feminism in Pride and Prejudice Essay

Abstractï ¼Å¡Pride and Prejudice is a marvellous novel of Jane Austen. Although in her age, women are regarded as emotional, weak, nurturing, and submissive, Austen depicts her heroine, Elizabeth as a woman who has her own perspectives, feelings, and opinions. This paper analyses feminism in Pride and Prejudice from its progressive and conservative aspects. The former is reflected from the perspective of the way of narration and depiction of Elizabeth, while the latter is illustrated when this novel is confined in patriarchal society, that is, it compromises with custom and tradition of its time. Key words: feminism, female’s narrative perspective, depiction of Elizabeth, compromise. 1. Introduction Pride and Prejudice is famous as a masterpiece of Jane Austen for centuries. Many factors contribute to the success of it. The plot is absorbing: it tells how the hero, Darcy gets rid of his pride and the heroine, Elizabeth gets over her prejudice and to know each other and how they finally get married. The writing technique is noticeable as well. Narrative perspective from Elizabeth influences readers’ judgement, which causes readers’ misunderstanding of Darcy at the beginning. The correction of Elizabeth’s understanding of Darcy’s real character in the last chapters creates one of the climaxes in this novel. Austen’s language is witty and concise, and many words are full of wisdom and humor. We can observe Austen’s feminism in Pride and Prejudice, although she may not realize it. The narration from a female’s perspective is worth mentioning. It provides us with a different world from a male’s view. Women are placed in the center of narration. In the novel, Elizabeth is outstanding among those women. She is a woman who thinks she is equal with men. However, feminism in this novel is conservative, for Austen did not go beyond social custom in her day. There is something against feminism. Women are passive and dependent on man economically. I will analyze the progressiveness and conservatism in this novel. A rough knowledge of Austen’s writing background is helpful for us to understand the analysis better. The story happens in the late eighteenth or the early nineteenth century in a British rural country which is similar to Austen’s life environment. In Austen’s day, for women did not work outside like men, their economic status is quite low. Lack of economic independence also suggests that women have to rely on men after marriage if they want to live decently. Inequality in economy leads to women’s dependence. Inequality caused by social custom also affects women’s social status. The inferior position long occupied by women in patriarchal society has been culturally, not biologically, produced. (Hornsby, 257) Men were regarded as governors of society, while women as objects governed by them. Even women themselves did not think they were as equal as men. They accepted it as a truth that men were innately superior to them. However, in Pride and Prejudice, Elizabeth is against this traditional view. She has much confidence on her intelligence and judgment and at the time she is against tradition to some extent. Elizabeth’s distinction is a statement of Austen’s awakening of feminism. This paper appreciates the female’s perspective of narration in Pride and Prejudice and the way that Austen depicts Elizabeth as a woman who has similar viewpoint with feminists. Meanwhile, this paper notices that the novel has its limitation in terms of feminism. This paper analyses feminism in Pride and Prejudice from its progressive and conservative aspects 2. Progress in Terms of Feminism 2.1 The Female’s Narrative Perspective Special viewpoint is important to convey the idea and life experience of the narrator and even the writer. (Min Jie, 65) In traditional novels, the narrators are almost males, and male characters are usually in the center of narration. Then it is not strange that men’s thoughts and experience are talked about but those of women are neglected. In a man’s narration, females are objects of observation; they are passive and have no discursive power. (Cheshire, 158) The image of females is simplified and polarized. There are only two kinds of girls: good girls or bad girls. Good girl accepts her traditional gender role and obeys the patriarchal rules, while bad girl is the opposite. (Tyson, 38) The well-rounded character of females in real life does not get much attention. The image of women is materialized, partly out of men’s imagination. They build the image according to their expectation, taking for granted women’s real feelings. Therefore, women’s feelings are not hearkened and their feelings not perceived. This is a kind of neglect and even more discrimination. Fortunately Austen made a bold try in the men-governed novel world. Virginia Wolf once said that men and women’s concerns are significantly different. (Min Jie, 25) They understand things differently. Something that is trivial in men’s eyes is probably very important in women’s eyes. Austen transformed the narrative perspective from male-centred to female-centred, emphasizing the consciousn ess of female subjectivity. She shows to readers how females react to the world. The story goes not with the affairs around the males, but with females’ life experience and feelings. Women are given discursive power, which is a rare case in traditional novels. Austen made great efforts to change the rules in patriarchy. In this novel, Austen purposely limits her privilege of narration. In the first ten chapters, the novel has an omniscient narrator who takes care of all the things and people. It shows basic background information to readers. As the story goes on, we get interested in Elizabeth and therefore the view begins to be concentrated on her naturally. She becomes the heroine and the whole narration is confined to her world. What she sees and hears is the only way for us to obtain information. Her attitudes and thoughts inevitably influence our judgment. In other words, females that are narrated and controlled in traditional novels are endowed the discursive power. They have the right to talk about their opinions and make judgment. In the Bible, God takes out a rib from Adam to create Eve. This archetype all the time underlies the domination and superiority of males. In contrast, females are repressed and even they themselves could not see their identity clearly. They are as daughters, wives and mothers. In short, they live for men. Nevertheless, in Pride and Prejudice, men are observed and judged. They become the â€Å"other†, which Simone de Beauvoir called women. Austen’s description of males also impacts on the authority of patriarchy. Elizabeth points out Darcy’s pride and after self-reflection, he corrects it. He gets improved with the help of Elizabeth. To some extent, Elizabeth plays the role of his tutor. (Zhang zhisong, 12) This is quite unusual in traditional novels. Austen changes the fact that males are placed above females. In Pride and Prejudice, females become the subjects of narration and men are learned. The discursive power mastered by men is now shared by women as well. Austen deconstructed the male-centred narration and helped eliminate the discrimination against women in writing tradition. In the novel, the narration from a female’ viewpoint is a challenge to the authority of patriarchy. Meanwhile, Austen made a big step in the history of female literature. 2.2 Depiction of Elizabeth Austen’s feminism is mainly embodied in her depiction of Elizabeth. Different from traditional women, Elizabeth is no longer someone to please males, nor one to obey patriarchy. She is confident and independent and charming in personality. Austen starts to mould Elizabeth from the view that women are born equal with men in intelligence. This view reflects the confidence Austen has on women. She had a new view of women, which is shown in the description of Elizabeth’s character from different aspects. In Jane Austen’s day, an accomplished woman must have a general knowledge of music, singing, drawing, dancing, and modern languages. Besides, she must pay attention to her manners, dress and expressions. (Cai Lanlan, 85) Girls are educated in this way not for their sake or to cultivate their minds. However, the accomplishments are to attract a good husband, especially a wealthy one. Girls practice these skills to acquire a key to open the door of a happy marriage. Once they get married, these accomplishments are usually abandoned. Nevertheless, Elizabeth is quite different from traditional women. She does not learn the accomplishments tradition and society encourage girls to acquire. She is elegant in a special way. She prefers extensive reading to cultivate her mind. She admits frankly that she does not sing or play the piano well. She does not think it is a shame, either. Her rebellion against traditional accomplishments shows that she is conscious of the identity of females. She rejects to be the tool to please males. She prefers pursuing spiritual fulfilment. She would like to be a fully developed person whose mind is really educated, rather than just someone’s wife. Austen does not approve women’s absolute obedience. She rebels against it when necessary. Elizabeth is special for she is bold enough to challenge the feudal ethics. To ensure the health of her sister, Jane at Netherfield, Elizabeth walks three miles in a bad day by herself regardless of her mother’s opposition. â€Å"With weary ankles, dirty stockings, and a face glowing with the warmth of exercise†, (Austen, 31) she entered Netherfield, leaving the Bingley sisters despise her successfully. She does not care about her indecent dress, or Bingley sisters’ contempt. From that point, we can see Elizabeth’s detachment from traditional shackles. Elizabeth does not feel humble when encountered with people who are in higher position. She is courageous to refute unjustified reproaches to her as well. To some unreasonable requirements, she can respond forcefully. In Austen’s eyes, Elizabeth is the embodiment of self-esteem and courage. When Lady Catherine forces her to promise that she would refuse Darcy if he asked her to marry him, she refutes that she will pursue her happiness without reference to Lady Catherine or anyone unconnected with her. (Austen, 367) She is not threatened by someone who has higher social rank. She does not feel shy or cowardly when marriage is mentioned before her, although traditional women in her day are asked to behave in opposite. Elizabeth is intelligent and insightful. She is good at studying character and analyzing herself as well. What concerns her most is not something superficial, such as wealth or status when making judgment on others, but something in nature. She also reflects herself. It is her self-analysis that makes her notice her prejudice against Darcy and then rebuilds her knowledge about him. Elizabeth is somewhat â€Å"a studier of character†. (Austen, 88) This is quite precious for in previous novels, women are observed by others and women’s perspectives on the world are seldom mentioned. Elizabeth is independent and strong-minded, which come from her confidence. Once she defines something is right and worthy to be done, no one can change her mind. She has strong faith in her judgment, though she does not always make the right decision. This forms a contrast with Jane, who is a representative of traditional girls. She knows her own mind less than Elizabeth does. There is another example to show Elizabeth’s good will. When her younger sister, Lydia elopes with Wickham, it is Elizabeth who plays a crucial role in solving the problem, while her mother just falls in illness due to worry. Her independence makes her less influenced by others and she can behave on her own will. Her confidence leads her to deal with emergency calmly and orderly. Her attitude towards marriage is worth mentioning. She perceives that love should be an important element in marriage, which is quite important. That can be seen in her refusal of Mr. Collins’ proposal. Though she is poor and her family suggests her joint with a man who is to inherit her father’s property, (Carson, 21) she refuses to marry a man who she despises. She rejects marriage which does not include love. In her eyes, marriage is not a transaction, in which a man exchanges a wife with fortune. It seems a humiliation to her that people regard marriage as a trade. She insists that love be the foundation of marriage. That forms a contrast with her intimate friend, Charlotte, who marries Mr. Collins to get rid of possible poverty in later life. There is something else that matters in marriage for Elizabeth. She believes that marriage should also be based on equality and respect between husband and wife. Elizabeth does not accept Darcy’s first proposal for she feels his sense of her inferiority and she is annoyed by Darcy’s pride. After realizing her misjudgement on Darcy and Darcy’s change of his pride, they both become more mature and understand each other more. They help each other improve their personality. They are lovers as well as friends. Therefore, not only love but also esteem exists between them. Men and women are free to choose their spouses, but their affection should be tempered by reason and with respect. (Cai Lanlan, 19) Elizabeth has a lot of courage to pursue her happiness, which is precious in her day. Elizabeth is wise, independent, confident and strong-minded, and much feminism is reflected on her character. Austen does not mould her as a perfect figure. Elizabeth commits prejudice against Wickham and Darcy, which makes big mistakes. However, Austen means no criticism to her imperfection but a challenge to the traditional creation of heroes or heroines, who were perfect in many priory novels. Austen made a change. The imperfection on Elizabeth makes her more real and distinctive; she is even more charming due to her shortcomings. Meanwhile, this kind of writing is more valuable according to aesthetic. (Ma Wenting, 69) 3. Conservatism in Terms of Feminism Austen did make much contribution to feminism. She advocated that females should be sensible and independent. Elizabeth is a figure whose consciousness of feminism is much more advanced than that of other women in her day. However, limited by social custom and education she received, Austen was not radical as some feminists of nowadays. She was a pioneer in the field of feminism, but her consciousness was weak and conservative. Influenced by patriarchal culture, she could not escape from tradition thoroughly. She made a compromise with social custom, so there is something against feminism in this novel. In love, females are objects of being chosen. In marriage, women still depend on men in material. Only by males’ approval can females fulfil their values. This paper also explains the conservatism in terms of feminism in this novel. In patriarchy, women nearly have no rights to choose the ones they are fond of. They are not allowed to be active in love. Women are asked to show as few feelings as possible. When Elizabeth sheds her prejudice against Darcy, she falls in love with him immediately. However, instead of telling her feelings to him at once, she has to wait until Darcy makes a proposal to her again. If Darcy got offended by her refusal and never asked her to marry him again, probably Elizabeth would miss the chance. (Ji Ying, 47) Elizabeth is the best-loved figure by Austen, but she still can not get rid of the confinement from social custom. Jane pretends to be detached from Bingley’s affection due to the restraint of the rules. It is her restraint that puzzles Bingley and almost ends their relationship. All women can do is to wait for the coming of love and sometimes even accept a proposal against their will. They have no freedom to choose husbands, not mention to pursue them. In marriage, for men and women are not equal in economy, women have to rely on their husbands. At the beginning of the story, Austen mentions that a man with good fortune must need a wife. (Austen, 1) In fact, the story proves reversely that a woman if not to be raised by her parents must find a husband with much property. Elizabeth is surprised by her sensible and rational friend Charlotte’s marriage with contemptible Mr. Collins. Actually, except that Elizabeth finds someone who appreciates her and is wealthy as well, there is no point for her to be amazed by Charlotte’s choice. Elizabeth pursues independence and liberty in spirit, but after marriage, she still has to live like other women, depending on their husbands in material. Austen depicts Darcy as a wealthy man, unconsciously proving that she still thinks a man with wealth is advantaged. Austen used the archetype of Cinderella. The difference from the original one is that Cinderella in Pride and Prejudice is not fragile and the prince is not charmed only by his Cinderella’s beauty, but also by her personality. It seems to resist against the discrimination that women are just beautiful in appearance, for what concerns Austen most is the description of Elizabeth’s character. Nevertheless, women are still evaluated by men; it is men who have the right to announce how a woman is. Without the appreciation of Darcy, probably Elizabeth would stay as Cinderella forever. (Liu Xueqiong, 3) She is not able to change her status by herself. Elizabeth is witty and different from other girls, but what Austen expresses to us is that Elizabeth is worthy to get married with. Elizabeth is envied not for she is a totally independent person as a woman, but for she will be Darcy’s wife. The psychology of depending on men is rooted in contemporary custom. It was acknowledged that there was nothing wrong for w omen to be raised by men. Even though Austen found that spiritual independence was not enough for women, she was powerless to change the situation. Social system did not reach the point that Austen could not bear so that she attempted to overthrow its standards totally in her writing. Confined by social custom in her day, Austen did not catch the real meaning of equality between men and women and independence of women. Limited by contemporary social tradition, Austen gave in to it. There is something against feminism. In the novel, women are passive when dealing with love and they have to rely on men after marriage. Furthermore, they need men’s appreciation to fulfil their life. Feminism is observed in Elizabeth, but it is vague. 4. Conclusion Austen is insightful into society in which she lived. Pride and Prejudice is excellent in many aspects. Her knowledge of feminism is advanced in her day. She uses female-centred narration, which is different from traditional narration, which is male-centred. She depicts Elizabeth as a woman shining with the glory of feminism. In this novel, Elizabeth is independent, intelligent confidant and strong-minded, which does not meat men’s expectation. These factors state feminism of this novel. Meanwhile, her feminism is quite conservative. She gave way to social custom of her day. Women are passive, for they are not allowed to make decisions on their own marriages; they have to depend on men economically, which affirms their inferiority. These elements expose the conservatism of this novel. Austen challenges the rules in patriarchy but unfortunately she is confined by them as well. Above all, she as a pioneer contributes a lot to feminism, and the depiction of Elizabeth is so successful that girls of nowadays have much to learn from her.

Case Write-Up: The Investment Detective Essay

Case Summary The purpose of this case is to become a capital budgeting analyst and evaluate which set of free cash flows for 8 projects will result in the most effective investment for a firm’s capital. The objective given is to rank the four best that the company should accept. The case is broken down into three separate steps including the given information about estimated cash flows (inflows & outflows), determining the appropriate discount rate, and evaluating the cash flows using the IRR (Internal Rate of Return), MIRR (Modified Internal Rate of Return), NPV (Net Present Value), and other metrics. Each project is chosen solely on the basis of the quantitative analysis. Here are some factors to consider for this case: Each project has the same initial investment of $2 million; in addition, all are believed to be of the same risk class. The managers have determined that projects 7 and 8 are mutually exclusive. The issue is that the WACC has never been officially estimated and in the pas t the discount rate has been assumed at 10 percent (however, certain officers have asserted the discount rate to be higher). Ranking Projects Ranking projects simply through the inspection of cash flows is inadequate due to the time value of money and cost of capital of companies; the only piece of information that can be derived from looking at the cash flows is the amount of time it would take to be paid back (regular payback period). There are several capital budgeting tools that can be used, including IRR, MIRR, and NPV. These three can be used to see if a project exceeds the expected rate of return or the cost of capital for a company. We also refer to payback, discounted payback period, and a profitability index to help assist the decision-making process for which projects should start to commence. In addition, qualitative factors must be considered for any project given outside of this case, to cover the bases and have successful implementation. A company could find that having a negative NPV is acceptable due to the critical nature of the project. Experimenting in new markets to identify potential favorable businesses should be taken into consideration. Finally, cash flows are estimated in most projects so a  consideration has to be made for the quality of estimation. Therein lies one of the critical issues in capital budgeting; that there is a margin of error in the calculation of cash flows, whereas in the example above, the margin of error (typically larger with uncertain outcomes) could mean there would be a positive NPV for that critical project. Typically, NPV is the foremost choice for determining the investing worthiness of a specific project; NPV, determined by the sum of discounted cash flows compared against the cost of the investment. NPV allows anyone to see how much value above the initial investment. MIRR, would be the next best choice, as it is measures profitability of a project as a percentage (IRR does this as well). The reason MIRR is of higher significance is it has the extra part of assuming cash flows being reinvested at the WACC rate; additionally MIRR eliminates the problem of IRR having two potential rates. Quantitative Ranking Methods We ranked each project by the various methods stated above. Below, in Exhibit 1, are the metrics ranked by highest amount or percentage, except for payback and discounted payback periods which are ranked from low to high, signifying the shortest amount of time that the initial investment is recovered. The answer to determine which project is best to invest in is dependent on the variables and requirements that management deems necessary, meaning the qualitative content that is supplementary to the cash flow data. Typically, firms will decide to invest on the project that produces the highest NPV, and for this case if we are to rank by NPV, project #3 is the clear winner. Ranking by profitability index gives the same answer for each project number (it is indirectly related to NPV through the sum of discounted cash flow benefits). However when we look at the other values for project #3, it is  lower down the order. This is a result of the only cash flow being in the last (15th) year; due to the time value of money, this lowers the IRR and MIRR substantially, and obviously the payback period is the longest of all the projects. The next prosperous project based off of NPV but also ranked 2nd highest for IRR, MIRR, and PI, is project #4. At first glance, when considering the two mutually exclusive projects: project #7 and #8, the NPV and PI for project #8 is higher, while the IRR and MIRR are higher for project #7. Additionally the payback and discounted payback periods are shorter for project #7. This presents a dilemma in which it appears project #8 should be selected, yet #7 seems to be more favorable overall. There is a continuity of this dilemma as the cash flow streams are unequal for each project. To solve for this issue, we used a replacement chain analysis to determine which project between the two is the best investment decision. Below, in Exhibit 2, is an analysis of each project using replacement chaining. We excluded the last cash flow of $70 at T15, because for project #8’s last cash flow is after 7 years (project #7’s last cash flow is after 5 years), so we repeated that to T14. As shown above, when using the replacement chain method, we can see the change in outputs when the cash flows are repeated  through time. The decision between each project is now much clearer once the cash flows are repeated to the same* time-frame. Project #7 is the clear-cut investment decision when deciding between those two projects. Alternative Courses of Action There are always numerous ways to see a problem and decide how to react. The investor could choose any of the above mentioned methods (NPV, IRR, MIRR, payback, discounted payback, or Probability Index) to choose an investment project. Due to the mutual exclusivity of projects #7 and #8, the investor can choose whatever criteria method deemed most significant. Other factors for consideration include the project’s proposing manager’s track record for success, the proposing manager’s confidence in the project, the timing of the project’s cash flows, the project’s ability to protect market share, or the proposing division’s track record of success. Recommendation Based on these options, and the previously detailed analysis, we recommend that the project be selected based on the NPV ranking shown in Exhibit 1. With mutually exclusive projects, conflicts may arise in choosing between using the NPV, IRR, and MIRR. In this case, the NPV is the best choice for selection because it chooses the project that maximizes value for the firm. If managers are interested in the expected rate of return on the project, the MIRR or IRR will be more likely to demonstrate the rates that are actually earned if the project’s cash flows are reinvested in future projects, but this should be supplemental to the NPV during the decision process.

8 of the best apps for college students

8 of the best apps for college students College can be very stressful- especially if you’re on your own for the first time. There’s suddenly so much you have to figure out that you never had to worry about before. But you can make things much easier on yourself with the help of your smartphone and a few app downloads. Here are 10 of the best apps out there for navigating your college experience with confidence.1. Amazon MobileMaybe you don’t have a car. Or maybe your college town might not be the shopping mecca you envisioned. Or, let’s be honest, maybe you’re just lazy. Bottom line: you food, supplies, books, and toiletries- and you need it all delivered to your door. The Amazon app is free and lets you browse for and buy just about anything you could need. Bonus points if you sign up for Prime Student and get free two-day shipping and other perks.2. MintLearn how to manage your money like the grownup you’ve become. Mint is a free app that lets you view all of your finances and ba nk accounts in one easy place. Separate by category to see where your cash is going, and use that knowledge to create a budget that works for your life.3. iHomework 2You have papers, readings, and tests coming at you from every direction, with no parent breathing down your back to get things done. Keep track of all of your assignments, exam schedules, and coursework with this app, which helps you map out everything school-related. You can even set yourself notification alarms for upcoming deadlines.4. Google DriveNever get stuck away from your main desk without your files again. Take notes in class, then access your notes from another computer at anytime. Write your paper at home, and then pull it up on your friend’s laptop. Never worry about not having everything you need handy and stored in the Cloud again. Google Drive free and sign-up is automatic if you use your Gmail account.5. TodoistNeed a good to-do list app that isn’t too overwhelming and just lists all your tasks in one handy place? Track everything going on in your life, school-related and beyond- even doctor’s appointments or bills you need to pay. Why write your tasks on a board in your room when you can carry it in your pocket to reference all day?6. DropboxHere’s another app that will ensure you never are more than a click away from important documents. Save things in Dropbox, and they’re accessible from any device- even your phone. Don’t lose important data or documents again.7. FeedlyOverwhelmed by all the news you’re getting from multiple sources and apps? Use Feedly to aggregate the publications, blogs, YouTube channels, and other sites you follow, so you can see at a glance what’s new and keep up with news and updates from your favorite sites.8. EasyBibNo idea how to format your works cited list? Never fear. EasyBib will give you the right citation for whatever book you’re quoting from and it will tailor it for whatever citatio n style you need.

Adverse effects of the PPT rule

Adverse effects of the PPT rule In the EU context, the ECJ case law cannot be ignored to interpret anti-abuse provisions such as the PPT rule. Apart from settle case law, I considered the recent decisions on French and German anti-abuse rules confirming the ECJ’s adherence to the familiar wholly artificial arrangement test. Abuse is considered to exist if the setting up of an intermediate or other holding company qualifies as wholly artificial arrangements. This is the case if the facts show that setting up or maintaining the holding company does not correspond to the freedom of establishment’s intended aim of promoting economic integration. For this to exist, a company must pursue genuine activities for an indefinite period through a fixed establishment in another Member State. This in turns requires the existence of premises, staff and equipment to carry out economic activities. The question of what facilities can be considered to constitute a sufficient physical presence depends on the nature of th e activities pursued. These facilities must in any event be proportionate for the activities that are to be carried out. Instead, passive activities, such as certain holding company activities, generally require few facilities. The further requirement is for the entity to perform genuine economic activities. Passive activities can in principle satisfy this requirement, unless the activities are so marginal that they can no longer be regarded as bearing any relationship to economic reality. It could potentially be concluded from the ECJ case law that pursuing passive activities without any accompanying provision of services does not constitute a genuine economic activity. The absence, therefore, of any services provided by the intermediate or other holding company to a group company or third party could suggest the lack of a link to economic reality. If arrangements are to qualify as abuse – and, therefore, as lacking an establishment – it also has to be determined whether the parent company was objectively seeking to obtain a tax advantage by setting up the secondary establishment. This will be the case if the facts demonstrate that the arrangements could not have any purpose other than a wish to escape tax. An aspect of critical importance is the link that a company has with the host Member State through its pursuit of genuine economic activities, whereby the term ‘genuine economic activities’ has to be interpreted widely. Even activities of a more passive nature, such as certain holding company activities, can in principle be covered by this term, providing the intermediate or other holding company has sufficient physical presence to perform the activities and the arrangements have not been put in place solely for the purposes of avoiding tax. Finally, I tried to exemplify the adverse effects that the PPT may generate in practice by simulating the application of the rule to an equity wall structure. I showed the reasons why the PPT rule may represent a stronger weapon in the hands of tax authorities.

Law - legal systems Essay Example | Topics and Well Written Essays - 2000 words

Law - legal systems - Essay Example The expansion of the role of government in the lives of its citizens has brought with it an increasing number of controversies between citizen and state. There is a perception too that as a people we have become more litigious. All this has resulted in an increase in litigation, aggravating the problems within the current judicial structure, causing delays from the ensuing backlog of cases, higher costs to the parties and the taxpayer, the bureaucratization of dispute-processing systems and exaggeration of minor disputes as a result of regulations, delays and costs. Furthermore, both court congestion and high cost are used as bargaining tools to extract settlements which may otherwise be unacceptable. For many, however, the concern runs deeper. There is a growing awareness that the corner-stone of our judicial structure, the adversary system itself, is not the most appropriate for the effective resolution of all forms of disputes; it may not be capable of resolving a problem to both parties' satisfaction and may easily cause disputes to escalate to more serious levels. Moreover, even though the vast majority of disputes are 'resolved' outside the courtroom, they are still resolved 'under the shadow' of this adversary mentality; for instance, the threat of instituting court proceedings may be enough to exact an inappropriate settlement. It is often unfortunate that the adversary mentality permeates all resolution processes, polarizing the parties and exacerbating their disaffection. Still, negotiated or 'lumped' settlements far exceed in number those resolved through other means. On many occasions the 'threat' of suit is therapeutic where otherwise stubbornness might prevail. The basic philosophy of the adversary system is that it is the best means to find the truth through the testing of the various versions of the disputants by putting each to the proof of his or her claim. Correlatively the burden of establishing legal entitlement rests with the litigants. The system is based on individualistic premises: each party is presumed to be equally motivated and competent to investigate the facts and to present his or her case to a passive, neutral and independent court and each is presumed to have equal opportunity to pursue the claim. Implicitly the system presumes adequate resources in both time and money in order to do so. Each party confronts the other, as an adversary, before the court, each having an opportunity to present her or his story, to a judge, whose business is to decide the dispute under law. Eventually so the theory goes, the truth will emerge at least to the extent it can be discovered. However, it is generally accepted that the practice does not work nearly as well as the theory, despite an absence of empirical evidence either way. Each party will usually not have equal or even adequate time, money, motivation or ability to present his or her case properly. Furthermore, because the system is in part predicated on competitiveness, combativeness and confrontation, the emphasis is less on the best resolution of conflict but rather, oftentimes it seems, on 'winning at all costs'. It is little wonder that this system has been labeled 'the sporting theory of justice'. The end results include a lot of wasted time and money and a perceived lack of