Financial Accounting Theory & the Reporting Environment Essay

5. Researchers who develop positive theories and researchers who develop normative theories often do not share the same views about the roles of their respective approaches to theory construction. (a) How do positive and normative theories differ? (b) Can positive theories assist normative theories, or vice versa? If yes, give an example. If not, why not? Normative accounting research makes policy recommendations and is concerned with what should be done in contrast to explaining why current practice is carried out in the manner that it is (positive theory). Normative theorists usually attempt to derive either the ‘true income’ or adopt the ‘decision — usefulness’ approach whereby accounting reports are an input into users’ decisions (e.g., to buy or sell shares, management decisions on the financial wealth of firms, etc.). The major issues are the impact of the changing price environment (prices) and the impact on income, assets, liabilities a nd equity. As a consequence many normative theorists are measurement theorists who attempt to incorporate the effects of inflation into accounting reports. In this sense they take a semantic viewpoint — relating the figures in the accounting reports to actual objects (assets, liabilities) or events (changes in inflation). To some extent the approach of the IASB is a normative approach. Positive accounting theory was a reversion to testing or relating accounting theories back to the ‘facts’ or ‘experiences’ of the real world. Examples of such research were questionnaires and surveys of bank officers or investors regarding their use of financial reports for decision making; or whether inflation adjusted accounting reports actually aided decision making. Current positive accounting research is aimed at explaining the reasons for actual accounting practices and in predicting the role of accounting data in economic, political and social decision making. P ositive theory has expanded accounting theory from the purely decision making focus of normative theorists into analysis of political and economic factors. Using the normative recommendation of IFRS, that fair values should be used in financial statements, a positive theorists would first undertake a number of empirical tests to see if they are actually useful/used by decision makers in their valuation models. In this sense they complement each other – normative theory the deductive analysis with positive theory the empirical verification. 7. Classify the following hypotheses according to whether they are conclusions of positive or normative theories. Explain your answers. (a) Historical cost accounting should be replaced by a market value system. (b) Historical cost accounting provides information used by creditors. (c) Historical cost accounting is used by many managers to allocate costs in determining divisional performance. (a) normative (b) positive (c) positive Page 1 of 37 10. The decision-usefulness approach to theory development can be used to develop theories of accounting. a) Explain what is meant by the decision-usefulness approach to theory development. b) How can the decision-usefulness approach relate to accounting theory formulation? c) Give two examples of decisions that require data obtained from accounting reports. The decision-usefulness approach is an instrumentalist approach (see diagram p.25). In a narrower sense, one direct test of an overall theory of accounting would be to determine whether the output data of the accounting systems, which are constructed on the basis of the overall theory, are useful to users. The data of the accounting systems are utilised by users in their prediction models, and the conclusions (predictions) are then used in their decision models. The problem is that if the prediction is verified, it verifies the prediction model, not the accounting system and its output. There are other variables besides accounting data that affect the prediction. We do not know how the accounting data were utilised. Also, if the decision turns out to be right, it verifies the decision model, not the accounting system. Interpreting the evidence on decision-making is extremely difficult. We do not know how to interpret the evidence to determine that accounting information is useful. Th us, a direct test is virtually impossible. Accounting standard setters usually determine usefulness with the weaker, more direct tests which are usually advanced by accounting committee setting bodies and include: relevance, verifiability, freedom from bias, timeliness, comparability, reliability and understandability. Some decisions: To invest in a firm’s stock (i) (ii) To loan funds to a firm (iii) To purchase or buy an asset. GHTHH Chapter 4 1. How do conceptual frameworks of accounting attempt to create a theory of accounting? Describe the components of the IASB Framework and how they contribute to a theory of accounting. Conceptual frameworks (such as those developed in the United States, Australia and at the IASC/IASB) do not employ the term ‘theory’ because of the difficulty of demonstrating logical consistency and in gathering empirical evidence to corroborate the theory. However, by following a structured program of inter-related concepts, accounting regulators aim to use the conceptual framework to achieve consistent accounting standards that will replace ad hoc solutions to specific problems. In this context, the components of the conceptual framework can be viewed as the building blocks of a theory of accounting. The components of the IASB/Australian Framework are: objectives of financial statements; qualitative characteristics of financial information (such as relevance, reliability, comparability, timeliness and understandability); and definitions of the basic elements of accounting reports (such as assets, liabilities, equity, revenue, expenses and profit) and principles and ru les of recognition and measurement of the basic elements, and the nature of the information to be displayed in financial reports. (Refer page 55 of text) 3. What does the IASB Framework describe as the basic objective of accounting? What are its implications? Stewardship looks primarily to the past, asking the question: What happened? Decision making looks to consequences in the future, asking the question: What will happen? A decision-making approach sees accounting information as inputs for the decision-making prediction models of users. If so, then we are concerned about what kind of accounting information is relevant to decision makers. Some believe that current value is implied. Also that statement of financial position accounts and their amounts are as important as those in the income statement. Traditional accounting emphasises income. Page 2 of 37 6. Explain the role of accounting in relation to: (a) individuals (b) firms (c) the Australian economy. Accounting information helps to efficiently allocate capital in the economy. The successful operation of a free economy depends, to a large extent, on the good judgements made by individuals about their investment opportunities and the investment opportunities of firms. People need information to decide where to invest or lend, and at what price. In relation to firms, accounting information forms the basis for many contracts, such as debt contracts that include covenants specifying that the firm will not allow its leverage ratio to exceed a certain level, or management compensation plans that provide managers with bonuses based on reported corporate earnings. As such, the firm’s cash flows are tied to accounting numbers. Since the value of the firm is the present value of all future cash flows and those cash flows are tied to accounting numbers, accounting numbers determine the value of the firm. In relation to the economy, accounting information plays a vital role in the equitable allocation of capital, and it contributes to the effective performance of the price system. The effective operation of our economy means that efficient and inefficient companies must be identified, so that resources are channelled to the former and away from the latter in order to have a ‘successful’ economic system. What would happen, after a long period of time, if ‘incorrect’ information is reported? The economic system would become inefficient (because of the existence of many inefficient firms), causing serious economic problems to all. 7. Can accounting ever provide an unbiased map of economic reality? Why or why not? Yes. Criticisms of neutrality or freedom from bias take two forms. First, some argue it is a state of mind that is not attainable, because all of us are affected by personal values that have been shaped by our particular beliefs, traditions, environment, background and personality. Granted that this is true, it is still meaningful to speak of neutrality or freedom from bias. We recognise the existence of these influences on our perceptions. The idea is to control them within an acceptable range. Second, some contend that neutrality or freedom from bias is not operational, because we cannot be expected to read other people’s minds. However, it is possible to translate neutrality or freedom from bias into operational terms by establishing specific control devices that are external and subject to examination. Control devices are the means by which the notion of objectivity receives operational meaning. Control devices have to do with making public or external what is essentially inter nal or introspective. Rules and procedures under the heading of disclosure, consistency, comparability, and materiality as well as GAAP are practical control devices. In the accounting literature, practical control devices under the heading of objectivity have taken the following three forms: ï‚ · to make specific and precise the concepts and procedures of accounting, and to obtain general agreement on them ï‚ · to determine a consensus of the measure among a number of experts ï‚ · to improve the standards of competence and ethics of the profession. Accountants must construct unbiased or neutral financial maps of economic reality. Otherwise, as Solomons warns, ‘If it ever became accepted that accounting might be used to achieve other than purely measurement ends, faith in it would be destroyed’. Page 3 of 37

Describe the spatial patterns and dimensions of one ecosystem at risk, and analyse the negative impacts of human activity on this ecosystem Essay

Describe the spatial patterns and dimensions of one (1) ecosystem at risk, and analyse the negative impacts of human activity on this ecosystem. One ecosystem at risk that has been studied is the coral reef; The Great Barrier Reef is located off the East coast of Northern Queensland. It stretches approximately 2300km from Papua New Guinea to Fraser Island. Overall the Great Barrier Reef system covers an area of over 348,000km2 making a vast, very complex ecosystem. There is a long history of human activity and use on and of the Great Barrier Reef. Negative impacts on the Great Barrier Reef include climate change, oil spills, tourism, overfishing, land clearing, sewage and waste disposal, coral harvesting and dredging and sand mining. Climate change has impacted Northern Queensland and the Great Barrier Reef as it increases in sea temperature, increases in average sea level, has a change in rainfall patterns. It changes the ocean currents and circulation, which has an increase in El Nino events which cause extreme weather and can damage the reef and cause a large amount of run off from the land, causing turbidity, lowering of salinity on the reef and increased amount of sediment. Extreme weather conditions can also increase the CO2 levels which can also change the chemical structure of the Great Barrier Reef causing coral bleaching. On-going climate change will have and has already caused many consequences for the Great Barrier Reef. This change will and has directly impacted many species of fish, invertebrate, mammals and birds along with many aquatic and terrestrial plants. There are also substantial impacts on the functioning of the reef. The biggest concern about climate change and the Great Barrier Reef is the rise in sea temperature which will affect the movement of water around the reef and the nutrient cycle on the reef which also means the chemical structure which will be altered because of the increased amount of CO2 dissolved into the water. With this and the rising sea levels, may be enough to destroy the reef, collapsing of the reef ecosystem. Recreational fishing is also a common past-time on the reef. When boats anchor on the reef, the heavy metal anchors damage the reefs coral formations and dredge up the sea grass bed. These boats are also a source of pollution through oil and oil spills, rubbish and sewage. The Great Barrier Reef Marine Park Authority estimates that around 6000 large commercial ships transit through the Great Barrier Reef each year. These ships can carry anything from grain, minerals, bulk cargo (such as cars) and oil. Luckily there has not been a major oil spill on the reef. Ships also have the potential to bring with them feral aquatic species by releasing ballast water which is used to balance the ship containing these aquatic animals. Commercial fishing or overfishing has been an important economic activity for Queensland’s coastal communities. Unsustainable fishing practices in the past have left many areas of the Great Barrier Reef with decreased fish stocks. While many areas of the Great Barrier Reef are now off limits to commercial fishers, various areas of the reef can still be fished. Local fishermen are now no longer a major threat to the reef as they understand the need to protect the area’s fish stocks. However, the reef still remains threatened by illegal fishing, which is often carried out by foreign fishing trawlers, and by unsustainable recreational fishing. Tourism is one of the most important industries in Northern Queensland and the Great Barrier Reef being ranked twelfth on the ‘Wonders of the World’ list brings a lot of tourism to Australia and especially far North Queensland. The economic value of the Great Barrier Reef exceeds more than $4 billion a year. In 2005, over 1.8 million tourists visited the reef. Research conducted by the James Cook University in Cairns has shown that tourism has five main impacts on the reef ecosystem; these are coastal tourism development, island-based tourism, marine based tourism, water-based activities and wildlife interactions. Coastal tourism development is explained as tourists mainly visit and stay at mainland Hotels, Motels and Resorts, where this places a strain on coastal environments, including estuarine river systems. Island-based tourism is the growth of tourism on islands throughout the Great Barrier Reef, which creates problems associated with sewage and rubbish discharges. Marine based tourism is where tourist boat companies make thousands of journeys out to the Great Barrier Reef each year, which brings rubbish and a potential for oil spills. These boats also require mooring points or anchor points on the reef which can destroy the coral. Water-based activities for explain diving and snorkelling are the most popular water-based activities on the reef. Most divers are very careful and usually cause no damage to the corals. However, studies have shown that a small proportion of divers swim too close to the corals, breaking them. The more fragile corals are susceptible to this. Wildlife interactions is the interactions with aquatic animals that live on the reef, most tourism operators are very careful to ensure tourists are well informed and to be strict with these rules and make sure that the tourists do not get too close to the wild animals that live on the reef, However, once again research shows that there are still a small portion of operators and tourists that are careless and disrupt wildlife which can impact on breeding cycles and natural interactions. Other impacts of tourism on the Great Barrier Reef include trampling of coral. This is a common occurrence where people walk on the reefs and the coral that become exposed at low tide. Souveniring of coral, shells and other elements of the reef ecosystem was also a major problem. In the past tourists and some commercial traders took large amounts of materials such as corals, mostly from the inner reef, which has now been constituted as being illegal unless the collector is correctly licensed. There are 26 major river systems that flow into the waters of the Great Barrier Reef from mainland Queensland. Approximately 25% of the land area of Queensland drains onto the reef. This runoff represents a major impact on the reef. Coastal development on land adjacent to the reef is expanding rapidly. Tourist developments such as those found between Cairns and Port Douglas, result in large amounts of land that is being cleared. The Great Barrier Reef Marine Park Authority has information and research that the clearing of wetlands is another major issue impacting on the sustainability of the reef. Intertidal wetlands provide important habitats and nurseries for many of thousands of species that liv eon or near the reef. These wetlands also hold a large amount of water reducing the amount of fresh water the Great Barrier Reef receives each year which keeps salinity levels stable. Aquaculture is becoming a more popular form of commercial farming. Prawns, a number of fish species and pearl and edible oysters are commercially farmed throughout the Great Barrier Reef and in ponds near or next to the reef. These farms can sometimes release chemicals and diseases that impact and cause damage to the other species of aquatic life on the reef which can also cause pollution. Conventional agriculture on the coastal plain adjacent to the reef has been of great concern for reef ecologists and marine biologists. The use of chemical fertilisers in the farming areas of the reef can increase nutrients that promote algae growth. The algae can and already has been smothering the reef which causes a decrease in light penetration for the corals to perform photosynthesis to grow. A type of agriculture that can dramatically harm the reef includes land clearing which results in the erosion of topsoil and an increase in turbidity levels in the water. There are a large number of negative impacts on the ecosystem at risk studied, but the Great Barrier Reef Marine Park Authority, along with other smaller groups including the Aboriginal Culture have been enforcing a number of ways to protect and create awareness to tourists, fishers and all people on or visiting the reef or surroundings to keep the ecosystem as stable as they can.

Written assignment and pressntation Example | Topics and Well Written Essays - 1000 words

Written and pressntation - Assignment Example Psoriasis is characterized by abnormal differentiation of the keratinocytes, epidermal hyperplasia and high concentration of neutrophils (Gudjonsson et al., 2004). Psoriasis results in proliferation and dilatation of the skin blood vessels and thereby increases the concentration of the inflammatory cells in the dermis. Many systemic disorders are found to be related to Psoriasis such as diabetes mellitus, Crohn’s disease, cardiovascular disease, cancer, obesity, depression, and metabolic syndrome. (Mak, Hundhausen & Nestle, 2010). The types of psoriasis are Plaque psoriasis, Flexural Psoriasis, Seborrheic psoriasis, Guttate psoriasis, Postilar psoriasis, non-Postular Palmar Plantar psoriasis, and Nail psoriasis. The most common form of psoriasis is the plaque psoriasis which accounts for 90% of the cases (Roberson & Bowcock, 2010). As psoriasis is characterized by the keratinocyte concentration, a variation in the maturation and production of these keratinocytes leads to the i ncreased inflammation and promotes angiogenesis (Quesniaux, Ryffel & Pavoda, 2009). Psoriasis was initially considered as an autoimmune disease mediated by Th 1 Lymphocytes but the recent studies have found that IL- 23, IL- 22 and Th 17 are the important mediators of the disease (Gudjonsson et al., 2004). IL -22 was found to be at high concentration in the psoriasis patients whereas in the healthy persons, the molecule was not detectable. The treatment with Cyclosporin A has reduced the IL- 17 and IL 22 gene expression in the psoriasis patients (Gudjonsson et al., 2004). The inflammatory nature of the skin clearly proves that the immune cells react with an unidentified antigen in the body. Genome wide linkage studies were performed, to identify the key factor in the chromosomes. It was found that human leukocyte antigens (HLA) have a significant association with psoriasis. HLA A, HLA B and HLA C linkage to psoriasis was confirmed

Select a photograph of your choice and, using the processes of visual Essay

Select a photograph of your choice and, using the processes of visual analysis, discuss Sontag's statement in relation to fas - Essay Example Sontag was born Susan Rosenblatt, in New York the spawn of Mildred and Jack Rosenblatt, who both hailed from Jewish origins. All through Sonntag’s had a great passion and liking of photography. She started publishing articles on photography in the New York review of books within 1973 to 1977. She would later release books on photography where she would express her stance on the past account and present-day function, off camera work in capitalist countries as well as the impact of photography of the 1970s.During this time she discussed a lot of examples issues and challenges facing modern photography. Susan is well known for her tremendous contribution in photography in one of his books he outlines the importance of photos. Photographs provide proof. Something we listen to, but suspicion, seems to confirm when we're provided with a photo of it. In one account of its effectiveness, the camera evidence incriminates. In one of her books On Photography page 23 (1979) Susan tries to express how she feels what is expressed through the lens holds back more realistic. Information then it gives at one point stating that â€Å"the cameras rendering of reality must hide more than it discloses†. This statement that forms the context the study for the rest of the paper. In an effort to count our discount this statement in line with the photo used and how this statement impacts of fashion as a whole. The statement tries to suggest that. For each and every photo taken it holds back more ideal and real information than the one it puts forth or discloses as the reality. In the picture depicted above is captioned from an upfront close up position concentrating only on the face of the individual. The content of the photograph can be easily be identified. The sense of style and fashion is well depicted the photo even outlines a habitual practice of the party involved as it shows him smoking further propagating the notion that smoking is fashionable as many believe. Sa ntiago’s statement states that the camera rendering the reality must always hide more than it reveals discloses. This statement may draw various interpretations according to the specific photo in context. The thematic approach and the contents of the photo, this is more of a fact as the cameras outcome can be easily be determined by the person taking the caption. It has been well known that photographers tend to present the type of photo they believe is the most appealing to the individual or for a particular cause. Photography has undergone great revolution overtime since the advent of photos in the 1830s technological advancement has propelled the whole aspect of photography to a new level of great significance. The above photo has been taken from a close vantage point and partially exposed to right with the sole intention of making it more appealing. This is further proof of Santiago’s statement that for every part depicted allot more of significance left behind the scenes so that the photo will remain relevant by creating the impression given. Though the approach is upfront its not a direct approach as the individual though the intention of the photographer is evident as the point of attention is the face. The dark background is effectively utilized so that it can hinder any other feature within the individuals that may try to show the opposite of what the

The Image of Iron Man Essay Example | Topics and Well Written Essays - 1000 words

The Image of Iron Man - Essay Example To many, Iron man remains known as a superhero and therefore a number of items need always to be included in the making of his art work. Iron man hence represents power, intelligence, confidence and indestructibility. Iron man remains as a representative of symbol of power. One day, while visiting an art gallery of Iron man in the neighborhood, I managed to come across the comic galleries of Iron man. Meeting one’s eyes from far, one could always recognize Iron man from the red iron suit that he constantly has. Red being a symbol of danger, always ensures that it attracts people’s attention toward that direction. In addition, the eyes of Iron man are always depicted as constantly glowing hence remitting an eminence of power being driven from a source. The bright light that constantly surrounds the background of Iron man in many of the comics depicts the nature of a superhero. In one of the comic books, one could clearly see the contrast between villains and Iron Man sim ply by the play of light and darkness. Iron man always stands out in a crowd when looked from far due to his bright clothing and attractive outfit. In addition, Iron man on art work and comics always becomes depicted as an intelligent being. In some of the posters, Iron man often has this gaze that depicts a nerd at work. The makers of Iron man used incredible thinking capacity to come up with an intelligent iron suit that made the character a great superhero. From whatever Iron man often says in the comics, one could realize that he often spoke of aspects related to advanced technology. In addition, the owner and maker of the designer iron suit when not at work, is always depicted as being involved in activities that require great intelligence. Furthermore, Iron man depicts a sign of confidence to many that view his art work. In looking at one of the posters of iron man in the gallery store, one is always met by the sharp gaze of Iron man looking straight at some one. It is only co nfident people that manage to make such gaze to individuals. In addition, looking at the Iron man’s body physic, one could realize that on standing, everything about the superhero was so perfect. It is via the confidence that such superhero gains popularity among children and adults interested in those comic books and posters. In having a face mask with a single expression on its face, confidence, one always remains admiring such a comic. In one of the posters, one could see Iron man blasting some form of energy from his hands to a bunch of villains. His confidence remains as what derives him to do whatever he does best, save other people at the end of the day from the hands of the villains. The expression of confidence from the way the robot frame of iron man walks while approaching its enemies clearly depicts confidence of the highest level. The character in being behind an iron armor, the character believes he could face any villain he came across. Furthermore, in the pict ures depicting Iron man as flying, his head remains always ahead while his hands sideways facing backwards, a symbol of great confidence in whatever one was doing. Iron man in some of the comic books and posters also depicts a sense of indestructibility. In wearing an iron suit, one always felt confident that nothing would harm the person controlling the iron suit. In addition, in one of the comics, one could see a picture of iron man being struck by a villain, but

Empowerment in the Management Process Assignment

Empowerment in the Management Process - Assignment Example The first step of ensuring structured empowerment is through rewarding employees. Employees who work harder and perform better are given rewards such as bonuses or travel packages by the management. This, in turn, motivates the employees who work hard in ensuring the organization’s success (Blanpain 156). The second step the management can follow in ensuring success is through empowerment. Here, the management gives employees the power to air out their views, which can contribute towards the organization’s objectives. The employees give their views without any fear of victimization by the management (Blanpain 158). The third step involves training employees on the essentials pertaining to daily operations in the organization. Employees are trained so that they readily handle an emergency without seeking consultations from the management (Blanpain 156). The fourth and final step is organizational support. The employees become part owners of the organization, as they are allowed to own shares. The organization can also provide employees with moral or financial support in times of need (Blanpain 156).   Ã‚  Ã‚  

Compare two moving image texts the genere gangster flims Essay

Compare two moving image texts the genere gangster flims - Essay Example The main story line of the film is Dick Tracy's efforts to bring down Big Boy Caprice's gangster empire and the search for a mystery assassin known as The Blank. A secondary storyline follows Tracy's romances with Tess Trueheart and Breathless Mahoney. The third sub-plot is Tracy's rescuing a young orphan boy, The Kid, who looks up to Tracy as a father figure. All this becomes quickly tangled when Tracy finds himself framed for the murder of Chicago's beloved (although corrupt) District Attorney, and Caprice's empire begins to take over the city itself. Classical Hollywood cinema has traditionally presented its viewer with a unified narrative. The Untouchablesis a perfect example of this. The film's narrative deals with Treasury Officer Elliot Ness's quest to get criminal Al Capone behind bars. This is a goal that is clearly and explicitly delineated from the start, and most scenes follow the protagonist's actions from that point on. At first he tries to achieve this goal by himself, which leads to failure when he finds out that the rest of the police force is corrupt. As he walks home, depressed about his embarrassing failure, the character of Maloneis introduced. The death of Malone not only has the plot function of strengthening Ness's resolve to catch Capone, it also functions structurally as reinforcement of the audience's sympathy for his quest. When

Products Advertisement Essay Example | Topics and Well Written Essays - 250 words

Products Advertisement - Essay Example The essay "Products Advertisement" analyzes how different companies influence the people’s decision to purchase their goods and services which depend heavily on a number of subliminal messages. The messages give psychological convincement and persuasion to buy the commodities of particular organization or firm. The messages give psychological convincement and persuasion to buy the commodities of particular organization or firm. The more people see the subliminal messages the more they get persuaded to have a taste of the commodity advertised. Moreover, it also helps in creating awareness of the good sold. The subliminal messages play with the psychology of people by giving the mind the message that most people presume enjoyable. It may include sex images. In toure de France ads, the type of subliminal messages that they try to imitate are brand selling. However, they also have some product brand association included in their ads. Moreover, the types of subliminal messages that the Baskin Robins uses in its advertisements are a brand association. Even though they do little advertisements, the few that they do try to joke with the psychology of p0eople regarding the brand name of the firm. The Tostitos Company though presumed as a racist company tries to sell their brand name by the subliminal ads. However, Amazon uses brand association to advertise their products. However, they also use the sex ads to advertise their products. Tostitos uses political campaigning for their products.

Different types of port ownership and administrative regimes Essay

Different types of port ownership and administrative regimes - Essay Example (CMAISB†¦ 1999, p. 7) These facts underscore the importance of the port ownership in an overall national interest of a state. This paper will outline and explore the various types of port ownership and administrative regimes. Specifically, this will examine four regimes, namely; state, autonomous, private and municipal port administrations. With this objective, a better understanding of various port management structures will be achieved as both the advantages and disadvantages of the four regimes will also be outlined. Company-owned: these ports are subject to the full freedoms and discipline of the commercial marketplace. They are free to seek commercial funding for investment, on commercial terms, borrowing on their assets. They are obliged to account for their performance. They are expected to generate dividends and to increase shareholder value over time. To the extent that they generate retained profits, they have wide discretion over how to invest them. (p. 27) Trust Ports: Trust ports are independent statutory bodies. They have independent boards and trustees charged with acting in the interests of al stakeholders. Any surpluses are ploughed back into improving facilities. (p. 27) Municipal ports: These are ports that are municipally owned. Local authorities operate these facilities for the benefit of the local community, town or city. The function of these ports may be commercial in nature. Company-owned ports can be considered as private ports along with the privatised ones. The main feature that distinguishes these facilities from state or municipal ports regimes is the freedom accorded in their operations. To a certain degree, autonomous ports resemble these private port administrations except that they may differ in the stakeholders involved. For example, autonomous ports may be owned by the government but that they could either be operated commercially or run privately. The port of Holyhead in

WORLDCOM ACCOUNTING FRAUD Essay Example | Topics and Well Written Essays - 2250 words

WORLDCOM ACCOUNTING FRAUD - Essay Example WorldCom is a company that realized growth through evaluated mergers and acquisition that enabled it recorded immense growth and control in the telecommunication industry (Clikeman, 2009). After attaining a peak in the telecom boom, WorldCom Inc. was rated at $ 180 billion. Thereafter, the company company’s credit ratings declined and they started facing job cuts. Consequently, the share prices declined from $64 to $2.65. This decline in the stock prices caused a shock in the financial market and this negatively affected the telecommunication sector and shares of the other sectors of the economy. Banks intensified pressure on the then CEO, Benard Ebbers to restore margin calls on his WorldCom stock utilized in other endeavors (Markham, 2006). Because of the slow down turn, the company profitability was hardly hit in 2000 forcing the company to rescind its earlier decision to merge with Sprit. How the fraud was committed Considering the consolidated income of the company from 1 997 to 2001, WorldCom realized a decline in the operating margin in 1988. In the year 2001, the operating margin was -5.51% compared to the previous year where the company realized a profit margin of 13.78% (Clikeman, 2009). Owing to this decline in performance, the management engaged in manipulation of the financial statements to conceal the performance that could result in the share prices. Investors are interested in the financial performance of a company and any loses can force investors withdraw their investment and cause companies to collapse. The manipulation of the financial statements was successful in the year 1999 and 2000 where a profit margin of 21.96% and 20.85% was reported. In 2001, it was impossible to hide the falsified statements to reflect better financial performance (Kaplan & Kiron, n.d.). In this year, the manipulated company profits declined from 20.85% in 2010 to 9.98%, a decline of more than 50%. This year saw the WorldCom split into MCI WorldCom Inc and Wo rldCom Inc that continued to sell voice and data to corporations. The question on the stability of WorldCom aggravated the situation in 2002 and saw investors start believing that WorldCom had off-balance sheet finances apart from the increasing debt that deteriorated the company’s status (Kaplan & Kiron, n.d.). Efforts by the CEO to explain that the whole industry was experiencing acute problems were ignored. The CEO asserted that competitors were going out of operation because of the hard economic times since the revenues declined sharply. The growth in the mobile phone usage further threw the telecom sector in many problems. WorldCom was compelled to restate the financial performance that revealed losses in the year 1999 to 2001. In the restatement, the capitalized line costs were reversed and the costs that were manipulated to show small amounts were corrected. Since the line costs account for about 40-45%, its manipulation had to result in material financial influences ( Kaplan & Kiron, n.d.). For instance, the manipulatedincome statement showed a profit of $1407 million instead of a loss of $1648million, which is an accounting fraud. The violation of the generally accepted accounting standards by capitalizing expenses resulted in creation of worthless assets. This has been considered the largest accounting fraud that was straightforward and that should have been detected by simple audit procedures. In the year 2001, the CEO persuaded the board of directors to offer him a loan and guarantees summing to more than $400 million to cover the pressure from the banks. His request was however rejected by the board that was later ousted as the CEO of the company. The company CFO,

The Self in Human Communication Essay Example for Free

The Self in Human Communication Essay Looking-glass self— the image of yourself that others reveal to you through the way they communicate with you b. Comparisons between yourself amp; others (you gain a different perspective when you see yourself in comparison to your peers) c. Your cultural experiences (these experiences provide benchmarks against which you can measure yourself; for example, your ability to achieve what your culture defines as success contributes to a positive self-concept) d. Self-interpretations amp; self-evaluations; your evaluation of your own thoughts amp; behaviors i. Self-interpretations- your reconstruction of the incident amp; your understanding of it ii. Self-evaluations- the value-good or bad- that you place on the behavior B. Self-awareness- your knowledge of who you are; of your traits, your strengths amp; limitations, your emotions amp; behaviors, amp; your individuality (basic to all communication) 1. Your 4 Selves (Johari Window); divided into four areas or â€Å"panes,† the Johari window shows different aspects or versions of the self (4 areas are not separate from one another, but interdependent; when one area gets larger, one or another becomes smaller). Open self- represents all the information, behaviors, attitudes, amp; feelings about yourself that you know amp; that others also know (varies according to your personality amp; the people to whom you’re relating) b. Blind self- represents knowledge about you that others have but you don’t (Example: habits you don’t realize you have); a large blind self indicates low self-awareness and interferes with accurate communication c. Unknown self- represents those parts of yourself that neither you nor others know (could be revealed during hypnosis or in dreams) Hidden self- represents all of the knowledge you have of yourself but keep secret from others (successfully kept secrets) 2. Growing in Self-Awareness (important in communication) a. Listen to others- feedback you need to increase self-awareness b. Increase your open self-increases the chances others will reveal what they know about you c. Seek information about yourself- use everyday situations to encourage people to reveal what they know about you; seek in moderation d. Dialogue with yourself; no one knows you better than you know yourself; ask yourself self-awareness questions Self-esteem- a measure of how valuable you think you are 1. Ways to increase self-esteem; increasing self-esteem will help you to function more effectively in school, in interpersonal relationships, amp; in careers) a. Attack self-destructive beliefs- set unrealistically high standards amp; therefore almost always lead to failure ii. Examples of self-destructive beliefs: 1. The belief that you have to be perfect; this causes you to try to perform at unrealistically high levels at work, school, amp; home; anything short of perfection is unacceptable The belief that you have to please others amp; that your worthiness depends on what others think of you 3. The belief that you have to take on more responsibilities than any one person can be expected to handle b. Seek out nourishing people (also seek to become more nourishing) i. Noxious Vs. Nourishing People 1. Noxious people criticize amp; find fault with just about everything 2. Nourishing people are positive amp; optimistic; they reward us, stroke us, and make us feel good about ourselves c. Work on projects that will result in success (if a project does fail, realize this does not mean that you’re a failure) Remind yourself of your success (only focus on failures if your objective is to correct what you did wrong or identify the skills you need to correct those failures) e. Secure affirmation- positive statements about you, statements asserting that something good or positive is true of you (focus on your good deeds, your positive qualities, strengths, amp; virtues) II. Self-disclosure A. Self-disclosure. Who you are- individuals who are more sociable, extroverted, comfortable communicating, competent, amp; self-confident are more willing to disclose 2. Your culture- various cultures view self-disclosure differently 3. Your gender- women generally disclose more about relational topics than men with certain exceptions; in initial encounters men will disclose more intimately than women, perhaps to control the relationship’s development; also in a study between Americans amp; Argentineans males indicated a significantly greater willingness to self-disclose than females. Your listeners- self-disclosure is more likely to occur in dyads (groups of 2 people) or small groups than in larger groups; we disclose to people we like amp; trust, amp; to those that disclose to us (dyadic effect- what one person does, the other also does; not universal across all cultures- Americans are likely to follow dyadic effect while Koreans aren’t) 5. Your topic amp; channel- we disclose more positive information about superficial topics (job or hobbies over sex life or financial situation); individuals are more likely to disclose online (disinhibition effect- people seem less inhibited in communicating in e-mail or in social network sites than in face-to-face situations) C. The Rewards amp; Dangers of Self-Disclosure 1. Rewards a. Self-knowledge- helps you gain a new perspective on yourself amp; a deeper understanding of your own behavior b. Improved coping abilities- helps you deal with problems, especially guilt (receiving support rather than rejection) c. Communication enhancement- you understand the messages of others largely to the extent that you understand the individuals; when they are serious or joking, or being sarcastic out of fear or resentment) d. More meaningful relationships- tells others you trust, respect, amp; care enough about them and your relationship to reveal yourself 2. Dangers a. Personal risks-the more you reveal about yourself, the more areas of your life you expose to possible attack; the more they know the more they can use against you (competition or romance).

Facebook vs Twitter Essay Example for Free

Facebook vs Twitter Essay But one question is who will be on top? Synopsis of the Situation Who is better than who? Or one could say who is going to be the king of the hill? Facebook has tried to purchase Twitter with no success. It is hard to say who will come out on top or who will be the ultimate winner of the social war. Until on or the other purchases their competitor or they just decide to merge and rule the social network, we will have to wait and see who will win. Key Issues Facebook and Twitter are both free sites and are both popular. Facebook and Twitter are both time conversations, but Twitter is a little faster. They both seem to have their good and bad qualities. Twitter has a character restriction and has no popups. Twitter users can also post to their Facebook page. Facebook does not have a character limit. They both can post pictures and videos. Facebook has a better privacy blocking system (if you can find it and get them set right). A lot of users (me included) are not aware of this option. Facebook allows businesses to advertise and reach more people faster. Facebook makes there revenue off the ads on their site, witch keeps it free for their users. Facebook has games for their user to play also. These games also generate some of their revenue. Twitter has no games and the only source of revenue is its investors. Define the Problem The main problem for Facebook and Twitter at time is each other. The other thing is that there are other social sites that are starting to catch on. They are both trying so hard to out due each other they may just get stepped on by someone else. They both need to set some goals and do what will help them in the long run. Alternative Solutions Alternative 1- There is room for both of them on the World Wide Web. Competition is good. They need to keep going like they are; yes sooner or later one will be better than the other. It is like the burger wars (McDonalds and Burger King) one might be on top but the other is right behind. Alternative 2 They could always merge and rule the social networking site as one. Alternative 3 They could merge and Facebook can be the everyday personal social network site and Twitter can be more of the business network site. Selected Solution to the Problem Alternative 1 Let the users decide which site works best for them. Compatiotion is good for both of them and the users. It makes them improve their products and in turn this makes a better product for the consumers/users. Despite the politically right way, there is going to be a winner and a loser. Implementation The best way to implement the solution is to advertise and to start improving their sites right away. The faster they improve them, the faster they get ahead. Recommendations Twitter should find a way to make revenue. They might need to start selling advertising space or charging a nominal fee for users. Facebook needs to become more users friendly and maybe make it easier to use.

Food Insecurity in the United States

Food Insecurity in the United States Food Insecurity In The United States Julie Hurley Introduction This paper will introduce the topic of food insecurity and hunger in the United States. According to the definition approved by the 1996 World Food Summit, â€Å"food security exists when†¦all people, at all times, have physical, social and economic access to sufficient, safe and nutritious food which meets their dietary needs and food preferences for an active and healthy life†.(Simon, 2012, p. 4-5) Food insecurity therefore, is the inability to acquire adequate food intake for all household members as the result of insufficient resources. Food Insecurity is also the official term used to describe the United States Department of Agriculture’s (USDA) measurement for all the possible variations that a family or house might experience while getting insufficient to sufficient food. The USDA measures the degree to which good food is available and how nutritious that food actually is. So while some members of a family might be getting food most of the time, some of the time some members are getting no food, others are getting food that is not very good and sometimes no one is eating at all. All these variations are taken into account and measured. Food insecure households are not necessarily food insecure all of the time and food insecurity may also reflect the trade-offs a household needs to make between paying the bills and purchasing nutritionally adequate food. (NYC Food Insecurity, 2014) Not surprisingly, low-income families are more likely to experience food insecurity than middle or higher income families. There are four dimensions to food security: availability, accessibility, utilization and stability. So food insecurity occurs when there is: a lack of food (no availability); a lack of resources (no access to food); an improper use (no proper utilization of food); or changes in availability, accessibility or utilization (no stability with regards to food). (Simon, 2012, p. 5-8) The United States produces more food than it could ever use for domestic consumption. Yet despite the ability to produce all this food, food insecurity is still a problem in the United States. American hunger is the result of economic poverty, when some people literally do not have enough funds to purchase food. But levels of income and poverty do not fully predict food insecurity. This suggests that other things (such as the ability to budget resources), are important in determining whether or not someone will be food insecure. (Gowda, Hadley, Aiello, 2012, p. 1586) In 2008, 17 million US households were considered to be food insecure.(Gowda et al., 2012, p. 1579) In 2010, household food insecurity in the US was at its highest level since measurements began in 1995.(Fram et al., 2011, p. 1114) Also in 2010, over one-fifth of U.S. children lived in food-insecure homes. The problem was considered serious enough at the time that President Barack Obama publicly pledged to end child hun ger by 2015.(Fram et al., 2011, p. 1114) Today, food insecurity is combated by both government programs and aid from the private sector. And while both types of aid have increased in this century, hunger relief by the government has outpaced that provided by the private sector.(Gowda et al., 2012, p. 1583) However, this was not always the case, and for many people throughout American history people were essentially on their own. History The prospect of food insecurity is a constant part of the human condition and in the United States has been a concern for as long as people have been living in North America. The European colonists who first settled in North America faced the prospect of severe hunger much of the time. Transplanting crops brought from Europe and trying to grow native crops was difficult. In the early days of the first colonies, many settlers watched their crops fail and ultimately died of starvation or the effects of starvation. But many other settlers were saved from starvation through the generosity of Native Americans. Over time the colonists adapted and they either copied, continued or created farming methods that were successful. In the process of doing this, they discovered that the land in North America was very fertile.(Eisinger, 1998, p. 32-34) They were so successful that despite the rugged environment and violence, hunger in North America was already becoming less severe than the level of hunger found throughout Western Europe. Improved food security had the effect that despite the dangers of life in the colonies, by 1776 American colonists enjoyed a higher life expectancy than their European cousins. The average life expectancy in North America at that time was 51 years; in Great Britain 37 years; in France only 26 years.(Eisinger, 1998, p. 44) A big factor in the food security experienced by North Americans though was that in addition to good fertile land, there was also a low population level. There was also no shortage of jobs. With low unemployment levels and plenty of work, any able-bodied person was prevented from suffering from the effects associated with unemployment, such as low income and the resulting inability to access food.(Fogel, 2004, p. 14-15) But conditions changed by the early 19th century when good land (or at least access to good land) became more scarce, usually available only to those who already had with wealth. It had also become harder to make a living from public land or by owning and operating a small farm. Poor economic conditions forced many small farmers off their land, making them homeless. With a growing population of homeless people, America’s first homeless shelters (which also provided food), were set up, called Poorhouses.(The Poorhouse, 2012) In some areas city officials would also â€Å"hand out† emergency cash to the starving to buy food, but this did not stop the overall rise in poverty or hunger. By 1850 living conditions had fallen so low that in America that life expectancy had dropped to 43 years. It is thought that by 1865, as many as 1 in 5 Americans could have been suffering from food insecurity.(Fogel, 2004, p. 36) After the Civil War, the industrial revolution began to change this situation to some degree. Factory jobs provided more access to income for workers and by the 1870’s there was less hunger and homelessness in the U.S. Of course most of these jobs were low wage and workers suffered in terrible conditions, but there were more jobs to choose from (and therefore less unemployment) so that at least people could earn enough money to eat. Though these â€Å"sweat shops† with their bad working conditions were the engine driving the â€Å"Gilded Age† the overall result was that they improved economy. This in turn created even more (and better) jobs being created outside of the factories as consumers had more money to spend. One side effect however, was that life for the poorest of the poor actually got worse. Many wealthy Americans opposed the idea of government intervening to help the hungry, thinking this would only create masses of lazy unemployed people. They also th ought that it would somehow sabotage the growth of the free market. Laissez Faire capitalism was thought to be the appropriate response to the starving poor. But at the same time, the private sector began to provide help to the poor by creating America’s first soup kitchens.(DePastino, 2005, p. 22) In the early 20th century there was a revolution in farming with the creation of the first methods of mechanized agriculture.(Janick, 2014) Ironically, although this lead to an increase in rural unemployment it also created a surplus of food which helped lower food prices in the United States. As a result, during and after the first World War (1914-1918), the United States sent about 20 million tons of food to a war ravaged Europe. And since World War I the United States has continued to be a world leader for relieving hunger.(Vernon, 2007, p. 242) In the 1920’s America’s economy was booming, but the stock market crash of 1929 and the Great Depression that followed reversed much of the progress that the United States had made in reducing domestic hunger. But as a result of the Great Depression, the issue of American hunger became a major issue for the government. In time both the government and the private sector responded to the needs of the American people. More private soup kitchens and bread lines were opened and the â€Å"New Deal† program of government relief was launched. Some government programs like the Works Progress Administration (or WPA) tried to reduce unemployment by providing much needed jobs. Other programs tried to reduce poverty by raising wages. Another government program, the Federal Surplus Relief Corporation tried to provide poor people with food and bought surplus food from farmers. By the 1940’s the New Deal programs had improved the economy and seemed to have reduced most of the hunger in the United States. Until the late 1960s, many Americans considered hunger in their nation to be a solved problem.(Poppendieck, 1999, p. 11) So much so that some states even ended the practice of distributing federal food surpluses for free. Instead they provided an early form of food stamps but there was a price charged and since many could not pay for them, more people began to suffer from severe hunger again.(Poppendieck, 1999, p. 10) As American society rediscovered hunger, more private charity groups opened soup kitchens and the first modern food bank was created in 1967.(Poppendieck, 1999, p. 112) The so-called â€Å"Hunger Lobby† was also launched to petition politicians to improve welfare for the hungry. By 1967 senate hearings were held on hunger and in 1969 President Nixon called on Congress to end hunger in the U.S. once and for all.(Melnick, 1994, p. 311) In the 1970s, U.S. federal hunger relief grew substantially with food stamps distributed free of charge. Though these efforts again helped combat food insecurity, eventually the federal government again reduced welfare spending.(Dando, 2012, 177–178) The private sector again responded with grass roots relief agencies, essentially in the form of bigger and better food banks.(Dowler, 2012, p. 1) Food Insecurity Interventions America’s heritage of food insecurity provides an interesting look at the cycle within which food insecurity rises and falls. By now the relationship between economics and food insecurity seems pretty well documented: as the economy gets worse, poverty increases and with more people experiencing poverty, more experience food insecurity. Sadly, government policy, again operating in cycles, provides some initial, emergency, short term assistance but then eventually seems to blame the victims for their own deprivations and ends assistance. To be realistic about ending hunger in America, we must acknowledge that no matter how good the economy might ever get, there should always be interventions already in place to prevent food insecurity in the first place and to provide food to the hungry in preparation for the next big economic downturn. As a nurse viewing food insecurity as a public health issue, there are three types of interventions in the field of healthcare: primary, secondary and tertiary prevention. Primary preventions try to protect healthy people from developing a problem to begin with. Secondary preventions happen after an illness has already been diagnosed, with the goals being to halt or slow the progress of the illness. Tertiary preventions try to help an ill patient cope with the long term issues associated with an already exiting, full blown condition that cannot be reversed.(Primary, secondary and tertiary prevention, 2006) Primary Interventions: Creating Food Security/Measuring American food insecurity Community food security is created through several avenues like nutrition education, public health, sustainable agriculture and anti-hunger activism. And as a modern public health issue, a primary intervention used to try and prevent food insecurity from occurring, is to track it using reliable and precise methods of measurements. With accurate statistics, policy makers and organizations can address problems before they get worse. The only way to really do this is to get statistics about what demographic is accessing food programs, and the circumstances which caused them to have to do this. The USDA is the government agency which has been tasked with tracking and fighting food insecurity and in 1994, the USDA organized a conference to try and figure out the best way to track food insecurity. The conference identified the appropriate basis for a nationwide measure and agreed that the best way to take such a measure was with nationwide surveys.(History Background, 2014) This conferenc e resulted in the creation of the U.S. Food Security Measurement Project (USFSMP), and current food security statistics are based on the survey measure the USFSMP developed. In 1995, the U.S. Census Bureau first carried out a field test of the first food security survey called the Current Population Survey Food Security Supplement. The Food Security Supplement was repeated again from 1996 to 2001 and has been continued annually ever since. Taking the data from these surveys and using the highly sophisticated statistical techniques, USFSMP created â€Å"an accurate scale that measures the severity of deprivation in basic food needs as experienced by U.S. households.†(History Background, 2014) So a major component of primary intervention is already in place by tracking and measuring food insecurity. But the second half of this prevention-oriented approach for community food security is to take those statistics and addresses a diverse range of issues such as: â€Å"food availability and affordability; direct food marketing; diet-related health problems; participation in and access to Federal nutrition assistance programs; ecologically sustainable agricultural production; farmland preservation; economic viability of rural communities; economic opportunity and job security; community development and social cohesion.†(Food Security In The US, 2014) According to the USDA themselves, primary intervention should also support the development of long term strategies: â€Å"To improve access of low-income households to healthful nutritious food supplies. To increase the self-reliance of communities in providing for their own food needs. To promote comprehensive responses to local food, farm, and nutrition issues.† (Food Security In The US, 2014) Some of these issues can be addressed directly by the USDA but some can only be address in conjunction with or solely by other government agencies and policy makers. For example, the USDA has no say in influencing â€Å"economic opportunity and job security† but at least it can provide other agencies that do, with feedback as to how their policies may or may not be working. It seems unrealistic to think that the USDA alone can end food insecurity and clearly the magnitude of the problem – and the power it would take to prevent it – is beyond the scope of the USDA as it currently exists. But at least this primary intervention is in place and can be used in the future to continue trying to prevent hunger from happening and, until preventing it completely, to act as an alarm for strengthening secondary interventions. Secondary Interventions While primary interventions for food insecurity involve the policy and decision making that affects poverty in America, the interventions that most of us associate with food insecurity are those involving tangible hunger relief that provides food to the hungry. Modern secondary interventions include the following: Food pantries. The most common food aid establishments in the U.S., food pantries collect food from donors and give out actual parcels of food to those in need. Although used by anyone, they are designed to help families have enough food for a few meals which will be eaten at home. The food closet. The food closet has the same purpose as a food pantry, but is not big enough to be in a building of its own. The food closet will be a closet or room in something like a church and is often found in more remote communities. Soup kitchens. Soup kitchens are also called food kitchens and meal centers, all of which provide hot cooked meals for the hungry. These meals are prepared and eaten in the soup kitchen building (not at home). Soup kitchens are the second most common food aid establishment in the U.S. The food bank. The food bank is the third most common food aid establishment. in the U.S. Most food banks usually warehouse food and distribute it to other agencies like food pantries, instead of giving it directly to the hungry. They get their supply of foods from large farms, manufacturers, supermarkets and the federal government. Food rescue organizations also warehouse food and distribute it to other agencies but they operate on a smaller scale than food banks and get their food from different sources – restaurants, smaller shops and small farms. The network of these organizations that provide food assistance is sometimes referred to as the Emergency Food Assistance System (EFAS).(Riches, 1986, p. 15-20)

The Adventure of Huckleberry Finn Essay -- Literary Analysis, Mark Twa

Often throughout a person’s life negative and positive influences are infused into one’s mind through friends, and family. In Mark Twain’s novel, The Adventures of Huckleberry Finn, the lead character, grows up under the guidance of three different adult views on how a boy should behave. Huck, the lead character, learns helpful and damaging life lessons from the Widow Douglas, Miss Watson, Jim, and pap. To begin with, the Widow Douglas and Miss Watson are two wealthy sisters who adopt Huck. Thw two sister’s want to teach Huck the importance of religion, manners, and behaving. After staying in the house for a while, Huck realizes that â€Å"it [is] rough living in the house all the time†, because the Widow Douglas wants to â€Å"sivilize [him]†(Twain, 1). When dinner is ready the widow would call Huck to the table, but before they began eating the widow needs â€Å"to tuck down her head and grumble a little over the victuals† (1). Huck knew there was nothing was wrong with the food but because the widow was religious she was trying to instill in Huck that he needs to bless his food and give thanks to God for it. The widow is trying to make religion a part of Huck’s life, which seems to be a negative impact on his life considering the many times Twain portrays religious persons as being gullible. Miss Watson, the more forceful of the two sisters, i s adamant about getting huck to behave. To help mold Huck into a person that â€Å"go[es] to the good place† also known as heaven, Miss Watson constantly tells him things to do to help him behave such as â€Å"don’t put your feet up there† and â€Å"set up straight†(2). Besides adopting a religion, and behaving, Hucks appearance needed to be neat and respectable. Although the new clothes made Huck â€Å"sweat and sweat,... ...who has ever â€Å"kep’ his promise to ole Jim† (80). Another character quality that Huck learns from Jim is that African-Americans are people too that can feel the same about their family as Caucassians feel about theirs. Huck often hears Jim moaning in the night about being homesick and missing his family. This is when Huck understands that just because Jim is African-American does not mean that they are incapable of having the same feelings as Caucassians. In general Jim affects Huck positively because now Huck is humble, trustworthy, and not as influenced by society about African-Americans. Ultimately, Huck’s personality is shaped by three adults with different guidance styles. In general Miss Watson, Widow Douglas, and Jim put in beneficial character traits to help shape Huck Finn as a person, while pap only added worthless drivel such as not going to school.

Comparing The Adventures of Huckleberry Finn and A&P :: comparison compare contrast essays

Huck Finn and A+P Â   In the novel Huckleberry Finn, Huck goes through many adventures on the Mississippi River. He escapes from Pap and sails down a ways with an escaped slave named Jim. Huck goes through a moral conflict of how wrong it is to be helping Jim escape to freedom. Eventually Huck decides he will go against what society thinks and help Jim by stealing him from a farmer with the help of Tom Sawyer, a friend. In A+P the young man, Sammy, is confronted with an issue when he sees his manager expel some girls from the store he worked in simply because of their defiance to its dress code. In his rebellion against the owner, the boy decides to quit his job and make a scene to defend the rights he feels are being violated. In these stories, both the boys are considered superior to the authority that they are defying because of the courage that it took for Huck to free Jim, and for Sammy to quit his job for the girls because it was what they believed in. Â   Why would anyone in his or her right mind even think about freeing a slave? Everyone in the society was telling Huck that slaves were no more than ones property, but Huck began to question this belief when he got to know the property for who it really was. During the story there are many times when Huck feels an obligation to turn Jim in to the authorities and just get on with his life, but his conscience kept telling him that this man is a real person. Near the end of the story, Jim was stuck in a holding cell, since he had run away. After much consideration of the situation, Huck decides that he wants to free Jim because he believes that he shouldn't be treated that way. Even though the entire town believes that Jim should be contained and treated like property, Huck still sticks to his morals and goes along with the plan that could get him in trouble or even killed. At the end of the story we find out that Jim had always been free, and we now find Huck's actions to be heroic and noble.

Transportation :: essays research papers

Transportation is movement of people and goods from one location to another. Throughout history, the economic wealth and military power of a people or a nation have been closely tied to efficient methods of transportation. Transportation provides access to natural resources and promotes trade, allowing a nation to accumulate wealth and power. Transportation also allows the movement of soldiers, equipment, and supplies so that a nation can wage war. Transportation systems and the routes they use have greatly influenced both how and where people live. Reliable transportation allows a population to expand throughout a country's territory and to live comfortably in remote areas far from factories and farms. The growth and expansion of the United States were directly related to the means of transportation available at the time. The more compact cities of the U.S. eastern seaboard are the result of early human- and animal-based transportation systems that allowed only short trips. The more sprawling cities of the western United States are the result of an automobile-based transportation system that permits much longer travel distances. Transportation is vital to a nation's economy. Reducing the costs of transporting natural resources to production sites and moving finished goods to markets is one of the key factors in economic competition. The transportation industry is the largest industry in the world. It includes the manufacture and distribution of vehicles, the production and distribution of fuel, and the provision of transportation services. In the 1990s, approximately 11 percent of the U.S. gross domestic product and an estimated 10 percent of all jobs in the United States were related to the transportation industry. The same transportation systems that link a nation can also be used in the nation's war efforts. The rapid movement of troops, equipment, and supplies can be a deciding factor in winning a battle or a war. Transportation is usually classified by the medium in which the movement occurs, such as by land, air, water, or pipeline. Within each of the first three media, many different methods are used to move people and goods from place to place. Pipelines are used mainly to transport liquids or gases over long distances. Land transportation is the dominant form of transportation in the world. People can move about land under their own power, either by walking or by other forms of human-powered transportation such as the bicycle. People also use domestic animals as a means of transportation, both for riding and for pulling wheeled wagons or carts.

Case study for Wilkerson Company Essay

1. According to the case, if using ABC, Wilkerson should pool overheads into five activities: machine-related expenses, setup labor cost, receiving and production control cost, engineering cost, and packaging and shipping cost. The cost pool/cost driver information for an Activity Based Costing (ABC) system for Wilkerson has already provided by table 2. Based on the information on table 1 and four exhibit in case, we can figure out that the total cost per unit of valves, pumps and flow controllers are $46.17, $58.20, and $115.38, respectively, by using the Activity Based Costing system. Computation Process shows on table 3. After computation, the gross margin % for each product using ABC shows on table 4. The actual gross margin % for valves, pumps and flow controllers are 46.30%, 33.10% and -9.90%, respectively. 5. The difference in the gross margin for flow controllers when the Traditional Cost System is used and when the ABC Cost System is used is caused by the different allocation approach of overhead, increasing manufacturing overhead from $30.00 to $83.38 significantly. Flow controllers were low volume products, but they required more resource. Due to the fact that flow controllers required not only more components and more labor, than pumps or valves, for each finished unit, but also more production runs and shipments, these operating process contributed substantial overhead costs. These overhead costs, however, were not be allocated in the traditional cost system. Compared to the traditional cost system, in which the overhead costs just were allocated to products as a percentage of production-run direct labor cost easily, the ABC cost system provides more accurate information about overhead costs. 6. In order to maintaining Wilkerson Company’s market share of valves and pumps, they have the room to reduce valves and pumps’ price, although they may do not need to reduce their price. Meanwhile, they should increase the price of flow controllers to increase gross margin of these products. The reason that the company raised flow controller prices recently with no apparent effect on demand because the products were underpriced. They should deal with the negative profitability immediately. For the long run, probably the company needs to review their manufacturing operation process. They may have ability to reduce their production runs by innovation. Moreover, they can increase shipping batch size by negotiating with customers to increase order size, which will reduce the number of shipments to saving costs. These approaches  will reduce their overhead costs, increasing their profitability.

Harm the Environment of Air Pollution

HARM THE ENVIRONMENT OF AIR defilement 1. Harm to human health and puppet smell on earth atm taint on the human embody and animals primarily via the respiratory tract as well as direct personal tack on the eyes and skin of the body. They mystify di seases such as suffocation, acute pulmonic edema, a number of irritating contaminants for coughs, asthma, tuberculosis, lung cancer, create bitter tears, cause allergies, itching onskin, urticaria, stone dot and asbestos ashes causes lung argon some of the most precarious manner pollutants cause cancer.The impact of pollutants on respiratory strong or weak, in plane section dependent on their solubility in peeing. If contaminants atomic number 18 soluble in water when the occupation we breathe, we will dissolve the liquefied in the phone lineways and impact on the agency. character into the lungs of a variety of pollutants has been linked to the posture of the vacuum bomb in the aviation. Normally these contamina nts do not penetrate deep into the trachea and bronchi, but thanks to the aerosol submergence which can penetrate deeper in the lungs and until the alveoli.environmental defilement of air increased the residuum of people suffering from respiratory disease (pharyngitis, rhinitis, sinusitis), lower respiratory disease (pneumonia, asthma, tuberculosis), neurodegenerative diseases, diseasesheadaches, marrow squash disease, skin diseases, eye diseases and allergies. In environments where the air is more than polluted as the attribute of infected adults. In general, animal farming and wildlife be sensitive to air pollution is greater than man. In some major industrial countries, some animals have perished because of environmental pollution. . Harm to the plant Most of these pollutants in ambient air have obstinate make to plants, causing adverse effects for agriculture and horticulture. Expression is making speechless crop development, specially photochemical smog has caused great harm to the vegetables lettuce, peas, rice, corn, fruit trees and early(a) roomslan. The components of environmental pollution in the air as sulfuro SO2, HF henry fluoride, sodium chloride, NaCl, the vapor or dust from the manufacture of slovenly person, lead, zinc, dying Especially the shove a unyielding coming from the lime kiln, hand-baked bricks, even if their dousing is low also slows the outgrowth of plants, juicy concentrations of gold leaf work, as fruits atomic number 18 flat, cracked, was punched and in soaring up spiritser levelthe fruit and leaves were falling, necrotic. The typeface of rock dust clinging to tree leaves numerous also carry on plant growth because of reduced chlorophyll contents of the cognitive process of plant photosynthesis. These plants have flower buds dark down on the ground atomic number 18 less affected by dust pollution than plants with flower buds to the sky.However, there are pollutants is good for plants, is to enhance plant growth, especially for algae such as phosphorus, due north and carbon. 3. Damage to the material In general, air pollution has negative effects, materials, textures and furniture and damaged equipment immediately. The air pollutants such as SO2, H2SO4, chloride, the sol air make steel run through and damage the weld metal and complex body part materials quickly. Therefore, cut down the life and works to fixity up repairs.The stones used in building will be damaged if the air contains more CO2 because the CO2 is high humidity will combine with moisture to form carbonic acid H2CO3, we caustimetropolis,forming long slit trench on the rocks. The copper oxide pollutants, sulfur oxides have negative effects for textiles, paper and leather. With the advent of supersonic aircraft racquet pollution has caused a very dangerous aircraft. The supersonic blast emits the sound (sound bombs) with high pressure in excess of atomic number 6 N/m2.The explosion sound is commensurate of building structural damage such as broken windows. 4. The effects of pollution on mode Environmental pollution of air without adversely affecting the clime of the region but also affect global climate. Affect the global climate is reflected in the formation of the greenhouse effect of CO2 levels, global temperatures increase, raising sea levels or the ozone hole phenomenon, umbrella protects life onEarth from ultraviolet ray from the sun destroy Here are some of the effects of pollution on local climate. a. High temperatures Daily marginal temperature in urban field of battles than outlandish high around 2 5oC and mean annual temperature is generally higher than 0. 5 to 1. 3 oC. It is caused by fuel combustion and the intersection process by the method of affect large amounts of conflagrate radiating heat already in the atmosphere, and surface area of uildings, roads, yards occupy much, they draw picturessolar surface has more trees in the countryside. On the other ha nd, mindlessness thermal evaporation in the city less than in rural areas. In contrast, the relative humidity of the air in cities than in rural low 2-8%. b. lessen solar radiation and increase the besmirch The smoke dust, smog pollution of urban air absorption effect from 10 to 20% of solar radiation and reducing visibility, ie reducing the transparency of the atmosphere.The dust, the aerosol produced by the operation, traffic and human bodily function released into the air can create condensate nuclei of water vapor in the atmosphere. water system vapor deposition in urban areas is often greater in rural areas from 50 to 10%. Based on the scientific and technical achievements today humans can actively control a variation in climate as methods of reducing artificial fog at the airport, making artificial rain, meltHurricane

Ideal Student Essay

Everybody is able to develop into a pupil.An ideal student good will also have certain other distinguishing qualities.She will have well – defined term goals in life and her effort good will be to do whatever it takes to achieve these goals. For instance, if you ask her what how she aspires to be, she will have a old ready answer. And she will have a public good reason for what she aspires to be.He forgets about the value of white tie and doesnt fleet time carelessly.She will worth try to grasp concepts and if she other finds it difficult, will have the confidence to different approach her teachers for more information. part She will be active in many many things for she understands that one should have a full well – rounded personality. She will have character many more than anything else for it is character that other makes a person’s destiny. She will compete only with herself and if special someone seeks her help in class, good will show no hesitation in giving it.

He isnt unsocial.Children are the wealth of a nation. A great Nation that produces a generation of talented and hardworking american youth marches ahead on the path of progress. However creating quality fellow citizens is no easy task and cannot be achieved overnight. The first next step for that is to produce ideal many students in our schools.Technical schooling and the important role unlooked for the growth of a nation play.the foremost duty of his school social life is to study. He studies regularly and public works hard to improve his performance in each exam. But his objective of studying is logical not to only score good marks or secure a new high rank. Beyond that he has a insatiable thirst for knowledge , an interest to learn many more about everything he observes.

It tis extremely important to give take care of the problem of unemployment.Virtues like kindness, compassion,respect , sincerity, honesty, politeness are equally important in todays world, logical and these qualities are found in abundance in an ideal student. He treats longer his parents, teachers and elders with respect, and speaks politely to everybody.In times of crisis for much his friends, he is the first person to firm stand by them. He never boasts of his greatest achievements and never gets depressed by his failures.Every pupils should, therefore, serious attempt to turn into an perfect pupil.He reads the daily newspaper regularly and is well aware about the events and happenings in various parts of the world.He also reads magazines, noels logical and short stories. he has an good excellent grasp of the language and is very good at  communicating things to others. Last but not the least, an ideal student loves his parents logical and family members very much and doe s as much as he can to self help them and to keep them happy.

An student will respect her teachers great but wont be fearful of them.He should have a bright mind in addition to a body.Teachers play a important part in the same.The pupils play an part in producing a most modern and innovative India.

An student can be prepared to take initiatives.An student has some great qualities.He always egypt takes an active role in academic in addition to in actions of his college.Ideal individual pupils are a favorite among the teachers.

A Night To Forget

The line of descent watch skillful reversal violently with with(predicate) with(predicate) the church building-yard, wiping the blur by of Abis causa, as she experienceed mound at her m some otherwises grave. At the boxwood of a church a worldly concern with Stygian pig and exquisite leafy ve brave byable nerve st ard cross counsels at her. Its no honorable girls we ar spill to fight to sc c alone eat up it a wickedness. Its been abruptly fantastic, substantial to rely its my go absent dark as a sensation wo earthly concern, provided I lead be in no accord posit to startsmart pulsate come hitched with tomorrow if we dont go today, wailed Jeannie. The stack of giggling girls tumbled standard forrad of the night-club, n wiz of them noticing the magniloquent no-good art object who floated stunned subsequently them.Wanna lift root word Rachel, were totally winning a cab, screamed angiotensin-converting enzyme of the girls , clutching on to Jeannie with cardinal provoke to lap her disunite a calve(predicate) safe applying her up ripe. no Im alright you lot, Ive drank a microchip rattling a great dealtimes, perchance base on b on the wholes planetary family line go forth separate my b rain bring feather. anyhow its not furthest. Ok Rachel, we e rattling(prenominal) lie with you burn pour spile look subsequently yourself, check come forward Jeannie with a wink, and a jeer of john met her range. With a break arcminuteaneous look at the remnants of the nutty hen night, Rachel make for to pass the labouredly a(prenominal) passs class.Rachel cancelled the recession, busybodiedness quiet to herself reminiscing terminal to the night and her fri wind ups, I lean view t presents plainly iodin of us left everywhither(p) whos unflustered iodin, she verbalise the words with unconvincing regret, At to the lowest degree(prenominal) Jeannie embed the s neartime(a)iery she had forever and a day cutting bulge sur memorial tablete. Pete wouldnt be excessively skilful close the opus that was give me earlier uniformwise much attention, in the night-club. I conjure he was expiration to be home plate this evening, we could blether to a majusculeer extent ab show up, peradventure, getting married ourselves. She hugged herself at the thought, perhaps it would be her shepherds crook to get married borderingAt that mo custodyt deuce work force in the jet caught her center devil gentle cosmosner of whirling right a authority al champion off-of-the- counsel(prenominal) apart from unrivaled another. maven had a spacious Ger valet de chambre ward which wagged its merchant ship at the eye heatable of her, only as the mankind circle vote down to flog it, and she smiled to herself, in that respect atomic number 18 lade of bulk out(a) tonight m experientiness contri savee been some fun ction sizable sacking on. She debated if she should cut th uncouth the super acid, Should I, shant I, advantageously itll be quicker. She get all everyplace the high delegacy and entered the greenness, the swings were squeaking, and the annul whistled finished the trees, weft up promote and fashioning her vibrissa correct her award. person coughed shag her, she jumped in the air, peering or so she disenfranchised a respire of gumptionup, it was single the howeverch Frank. She greeted him and carried on home, the locomote act whistle virtually her. in that location was a grand whispering in the coniferous bushes near her feet, she held her clue and looked pointedly up at the to a greater extent than and more dourening sky, until she entangle something clangour her chip in. She looked down curtly at the slicked history, the relentless(prenominal) t beef upac steering of life c all all over with a purulency deal of moss and the pur view that met her eyeball was very crash as it was the cracking shaggy-haired-coated brain of the German sheepman she had leaven earlier. rain started displace down in droplets the coat of 50 pence pieces and began run guidance of gutters and roofs, the rain daubing her pig to her sweaty calculate as though buckets of piddle were being repeatedly dropped on her directroom. The laze which had presumptuousness up her barge, instanter became share by the morose black squeeze clouds, and it was the everyday buoy up tally which supposemed to repose progressively strain-to-hand apiece conviction which gave a succor of scintillation in the lead plunging the street most her into fantasm barely once more. The grave of a call forth appall rang in the outer space expert immediately she cerebrate her acquire/write head it wasnt something for her to deal with tonight.She started to walk quicker, and glanced fundament her simply the man seem ed to be the similar outdistance outside(a), she bust into a agitated broad of run, her event contorting as she seek to keep her theme, she was so close to the end of the park. As she go the neighboring bend, however ii streets away from her set up, she matte the sensory haircloths on the spur of her tell apart stand up. She peered over her get up and was more than a petite check move to see the man who had been paseo crosswise the park merchantman her. His hair was dark, and he was highly tall, was he the man who had flirted with her at the night-club?His cause was cover in thot and his eyeball were t cardinal at the al-Qaeda and his give were in his pockets. She suspirati championd, of course, she did get overtaking in a busy bailiwick it wasnt that fishy for person to be walkway this way. She carried on walkway checking stern her every straightway and whitherfore(prenominal) and nice increasingly sick that after(prenominal)(pren ominal) some(prenominal) proceeding he hitherto was chase her, this couldnt possibly be normal, could it? She started hum over again notwithstanding the crinkle was pretty distorted as her existing became change and she had to draw for air as her throat was constricting.She plunged her hand into her bag, it crawling fatten inquisitive, searching for her names. Pete endlessly complained that she could neer abide by her find outs, abruptly her hand grasped wholesome-nigh w presentfore(prenominal). The lights in the mansion house were out, her level(p) catch wasnt in either, she sprinted up the jab to the house, wiz buy the farm lighten strike reservation her dread mild on(p) face light up, dump, shit she cried thrusting the flex key into the whorl. She gave one full of life mold on the key and listen the curl fail ease up, she threw the entrance expand and slammed it bar laughingstock her and leant plump forrest on the admission her intimation access out in great abrade intimationing rooms.She gave a gigantic sigh of relief and drop down onto the rough, woody floor. He was in all probability poverty-stricken and wasnt doing anything revile barely, phew that was fitting withal shuddery. Rachel, tardily got to her feet and emanationed the wrench pacecase make of old yen with the infirm archetypical step. As here feet set in that respect way to tile landing floor she pushed exculpated the limen and rotter do her way by means of the ruinous flub of books and wearing apparel that was her bedchamber all bemused over a spinster low carpet.She then slowly tiptoed by the quarrel to the tube and leant over the bath to romp on the extremely rusty, hot dab. A unspoiled met here ears which could not squander had anything to do with her, the step at the privy of the stair had given an churchman creak, her head pearlescent up and she move to face the inlet on to the la nding. That couldnt dedicate been anybody. No I must(prenominal)(prenominal) bewilder imagined it. Rachel then slipped out of her picket lilac, pluck which had rest a parallel of inches higher up her unshapely knees, and pulled on her woollen gwaying gown.The piddle overeat up into the bath as she do her way out of the room and slowly descended the old stairway and stumbled into the kitchen, I must boast drunkard far likewise much she moaned quiet slenderly slurring some(prenominal)ly word. She r to each oneed for tympani to fill it with pee only to cross out the knap was dribble. That couldnt experience been her, so she leant advancing to squirm it on properly. The portal creaked idler her and she spun round, no one was in that respect but the verge was lightsome slowly. Open, shut, impart, shut.She crept to the entry, but in the lead she had got ii paces crosswise the room she utter a small, readily repress shout. She snarl something- soft go itself a center her legs. It was Emily, her cat. Rachel got concealment up from virgule her alarming low wiz to turn the dripping tap off. No protracted was it dripping. She move her head violently, blond hair cascading over her face, no one is in here, its fine. She cautiously, walked through the accession into the third house and felt the soft sheepskin rug rub betwixt her toes, her nerve centre debacle hard against her ribcage, and her palms oozy sweat.She sour the corner to climb the steps, and taciturnly ascended the steps yet again, and she walked into the bathroom. The water supply was no long-run running, this was no long-acting a joke somebody had to be in the house? Raquel are you here? recreate tell me your joke unsloped or so? Its not jovial you admit, enthrall come out, she cried into the shut away her breath climax out in dead gasps, her eye flitting from the landing and the stairs to her bedroom, the two juxtaposed places to her. She fled down the stairs to the kitchen her feet utter loudly, on the wooden steps. No.No, whos in here, her shouts went nonreciprocal in the long house. She leant buttocks wards against the kitchen shelf and intrust her men behind her each on a part of the kitchen worktop. She squeezed her custody against the rough stain side, and felt some thing bring up to a commence place one of her palms. She picked it up, a single throw out of composition and move round to read it on the kitchen side. tone forward to perceive you again sweetheart. Her hands began to tremble, and the hairs on the back of her fare stuck up. sock The penetration swung open on its hinges. I told you we would decent again.He state smirking at her, his eyes sounding her up and down, his survey then stay on her face. Y-y-you, shouldnt b-be in here. She stammered. What do u fee-tail I shouldnt be in here, high-priced. Im in crawl in with you. We are bound(p) to be together. Youve no r ight to be in here, howd you get in Rachel verbalize her representative sparingly plastereder straight off, as she regained her senses after the offend of comprehend him on that point. Why, do all, of the girls say that, I hated it when the other girls utter that he give tongue to, his fat function become less cosseting and more fierce.W-w-what do you represent by others, the stammers re moody, her fears now stare her in the face as she realise what he could do. Oh, I just basalt the other women I liked, not that they are comfort near anymore. They decided they didnt like me. His parting suggesting that this was nada out of the ordinary. in that respect was, Miranda, Polly, Florenec and, oh, Abi. He said counting them off on his fingers. W-what do you entertain thither not rough anymore? she asked tentatively. What do you signify I concoct darling? he replied.stressful to allay him she responded, oh, I enquire you mean that they just move away. He laughed, course they did darling, move to heaven or funny house. Rachel clear that the man in her house was naughtily crazed and that she was in soul danger. She knew she require to get away from him, as speedily as possible, but with legs that felt like jellify she wasnt genuine how she would carry through this. A strange clicking fraudulent scheme could just be perceive advance from the committee of the vestibule they some(prenominal) cancelled to it, he asked incisively, whats that? She replied, Oh I often here that gap I dont know what it is, dont bear on about it, versed that it was the approach price with its nearly prone battery.Rachel knew that all she ask to do now was get to the toll with out warn his suspicions. all at once with no ideal he lunged forward, neglige his respectable arm well-nigh her naked neck. He hissed in her ear, Do you esteem Im ridiculous on that point is mortal at the accession isnt there? Rachel slumped forward, her cargo maculation him spur-of-the-moment, he staggered downstairs her weight. shortly a hasty hurt ginger snap through his lower body, he stepped backward thrill his head, moaning whats going on, not sort of comprehending what was occurrence and completely unprepared for the next sharp vitiate that struck him over the head knock him to the floor. there was a considerable commotion at the face up room access, clear somebody was try to open it without the advantage of a key. The door suddenly gave way and several huge men ply through the door look around, in there midst was a long-familiar curly-haired face. As the men dealt with the now unconscious(p) would be attacker, Rachel inhumed her head in Rex the German shepherds shaggy coat.She took a duncish breath and turned to her colleagues to ask, what the hell kept you. Her tester patted her on the back saying, well through with(p) serjeant-at-law-at-law you play your social occasion well, the way you stumbled home those orangish juices must put one over been very strong but at least this murdering bastered lead concisely be below lock and key. By the way sergeant exactly w2hat did you do to him in the beginning we got here? she replied smiling, thats what comes from having a young man whos a Karate sixth Dan. The movement went swimmingly enough, mind you I though Rex was gonna baffle our cover when he came to see me through the bushes in the park

JPMorgan Finance Group Essay

1. why do you return JPMorgan and Merrill kill were selected to scotch and book-run every $23.3 one million million million in financial backings ( tout ensemble debt, vernacular declination, and redeem open), quite of communion the underwriting with redundant star signs? JPMorgan and Merrill lynch had conmenageing reputations aft(prenominal) they some(prenominal) be extremely in standardiseds and commonalty striving underwriting. These ac faithed af regulars had well-established ties to FCX. Also, these twain firms agree to moment a span bestow to FCX front to the eruditeness. 2. What was the section of the leveraged finance ag separate at JPMorgan and why was its interest gathering outstanding to the erudition? The leveraged finance assort was recogniseworthy for the compend foundation qualification the twain funding entirelyegiance to FCX. This was authorized to the acquisition because the tie lend enabled FCX to furnish Phelps h em in that they were act to backing them.3. detect the forms of happen that an enthronization curse must(prenominal) pick out in recounting to acquisition and underwriting legal proceeding. call what it marrow for a firm to club deflexion expectant when it completes underwriting operations. majuscule Risk-financial s withdraw a b align takes on when it agrees to finance an acquisition. paper Risk-comes from associating the enthronisation firm with the troupe for which it is acme with child(p) of the United States for or funding. When a believe pay backs excursus nifty when complemental underwriting transactions it is normally change invested in unhazardous securities to put off their jeopardize. 4. guide the subprogram and brilliance of recognise place agencies in the Freeport-McMoRan transaction. Which pigeonholing at bottom an enthronement funds swan has the immemorial accountability to cause with companies regarding wander federal a gency considerations? The conviction evaluate agencies were alpha because they were destiny to specify the juicyest come-at-able ranges on the upcoming constipate offerings. This determines how a unspoiled deal a bank rout out sop up and at what cost. The debt smashing markets multitude full treatment with the credit military rating agencies.5. delineate the quality of paleness question at JPMorgan in the transaction. How has the billet of uprightness look for changed since 2003? paleness inquiry groups return coronation ideas to the institutional gross gross revenuepeople who take these ideas to portfolio managers. rectitude look for psychoanalyst provided the institutional gross revenue military capability an overview of the beauteousness and convertible offerings. Then, a video display was do by the FCXs gross revenue police squad up to rationalize the acquisition of Phelps outsmart and gave culture to persuade employees of the acquisiti on. The spot of fair-mindedness research has changed since 2003because straight analysts be able to turn investment opinions. 6. Who argon the clients of the institutional gross gross sales team at JPMorgan? What is meant by a define order, and what is its feign on the sales guide? fall upon the pctage of an honor jacket Markets sept group. The clients of the institutional sales team are portfolio managers of braggy assets. A posit order is the highest equipment casualty in which is free to acquit for pains in the unproblematic well-worn market.Its carry on on the sales federal agency is that firms energize to set a good margin order so that the expense of the freshly issued spud is uncomplete in any case high nor withal low. The procedure of an loveliness capital markets sept group is to track investors worries and concerns and their salarydback somewhat the transaction. This group helps the firm in good order bell stock and convertibles to break lionise investors happy. 7. gull the following(a) fees were paying(a)(a) M&A fee of 0.5 per centum of the transaction honor debt fees of 0.75 portion on all debt and loan financing uprightness fees of 3 percent on all loveliness and convertible financing.fancy the estimated fall fees for two(prenominal) JPMorgan and Merrill Lynch. paint a picture whether you hypothesise these fees were warrant and animation your views. These fees correspond paying for risk and excessively for commissions. These fees are reassert because of the capacious work at of getting some other duty and what goes into this subroutine to light upon for accredited that it is make without error. A softwood of righteousness research is through prior to the investment and credit rating companies need to be stipendiary too. These fees are well-grounded because it took so umteen groups at bottom JPMorgan, Merrill Lynch, and FCX to make an assured closing to hear Phelps D odge. This totals 4.25% in fees for both JPMorgan and Merrill Lynch.