Thursday, May 21, 2020

Eccos global value chain management - 1730 Words

ECCO A/S-GLOBAL VALUE CHAIN MANAGEMENT ANALYSIS 1. Describe the competitive environment of ECCO and determine how well ECCO is positioned (vis-à  -vis the competitors) to take advantage of changes in the industry. 2. Analyze ECCO’s global value chain. How well does this configuration match the drivers in the industry? Analyze ECCO’s global value chain. High demand for quality and reduced lead times led the company to a self-sufficiency approach on streamlining its entire value chain from raw hides to finished shoes unlike its major competitors who only designed and marketed their products without in house manufacturing. In having a global network of tanneries, production facilities,†¦show more content†¦How well does this configuration match the drivers in the industry? Ownership of tanneries, factories and leather research centers maintained the firm’s brand of commitment to quality and boosted the company’s ambition and confidence in delivering products that met customer expectations In reducing the number of vendors, the company was able to maintain high quality levels through close quality control measures and maintain its brand image of working to create the perfect shoe. The firm also made compromises to its approach in some cases by outsourcing its production for shoes that could not benefit from its in-house technology. Most firms in the shoe industry outsourced production as a way to cut production and vendor logistic costs. 3. ECCO has a fully integrated vertical value chain. What are the pros and cons of this strategy? What economic and strategic factors should be analyzed to answer this question? Pros: Higher demands of quality can be achieved (e.g. through better quality control) supports the company’s vision of high quality products Core Technology stays within the company You have more price control (= less exposed to price fluctuation) Eliminate the intermediaries (and obtain the margin of supplier / intermediaries) Higher economies of scale Ability to access leading expert knowledge about tanning Implement shoe and company specific Research Development (for example less pollution = can be used forShow MoreRelatedEcco a/S – Global Value Chain Management1709 Words   |  7 PagesFirm in a Global Economy ECCO A/S – Global Value Chain Management Question 1: 1. Relate the Ecco case to the conceptualization of the organization as a global factory. What similarities and dissimilarities with the global factory conceptualization do you see and what solutions may it present? Similarities: As ECCO had been very successful in the footwear industry by focusing on production technology and assuring quality by maintaining full control of the entire value chain, ECCO grewRead MoreEssay Ecco Case Anwers1256 Words   |  6 PagesECCO Case Study - Question 1 ECCO has a fully integrated vertical value chain. What are the pros and cons of that strategy? What economic and strategic factors should be analyzed to answer this question? The pros of a having a fully integrated vertical supply chain for Ecco include the following: * Improved supply chain coordination between tanning, manufacturing and distribution. This would ultimately help maintain quality and improve operational efficiencies such as logistics. Read MoreEcco Analysis3773 Words   |  16 Pagesachieved the highest surplus in the company’s history with a profit before tax of DKK 904 million. This highly satisfactory result was particularly due to successful new collections and improvements in sales in most of ECCO’s markets. The outcome could have been even better, if ECCO’s shoe factory and tannery at Ayutthaya in Thailand had not suffered catastrophic flooding in October with considerable human and commercial consequences. Many of the 3,500 employees in Ayutthaya lost both their home andRead MoreMarketing Strategy - Case Analysis (Ecco)2681 Words   |  11 PagesMarketing Strategy Case Questions (Galka) ECCO A/S Global Value Chain Management Marketing Strategy Term 4 2011 Team #6 03 August 2011 1. Perform a Porter’s Five Force Analysis Force 1: Barriers to Entry | |Questions |Answer |Reason for Barriers to entry | |1. |Do Larger firms have a cost/performance |Yes (Positive) |Larger firms like ECCO have resourcesRead MoreMarketing Strategy of Ecco1859 Words   |  8 PagesCompany Background ECCO, the world leading brand of shoes, was found in Denmark by Karl Toosbuy in1963. ECCO’s philosophy -â€Å"the shoe must follow the foot†. Karl was the shoemaker realizing that shoes had to be made to fit the foot, as a result, functional, comfortable ECCO shoes were launched in the 1970s and became a huge success. ECCO is the only major shoe manufacturer to own and manage every step in the shoemaking process. ECCO produces leather and has its own tanneries, their design and productionRead MoreEcco Case Essay2047 Words   |  9 Pagesï » ¿Ecco Case ECCO A/S – GLOBAL VALUE CHAIN MANAGEMENT Executive Summary: ECCO A/S is one of the most prominent player in the global shoe industry and is also one of the leading footwear manufacturer in the world. Since its inception in 1963 it aspires to produce top quality, casual comfort shoes with a perfect fit which are pleasant to wear in all weather conditions. The company’s USP is top quality of its product with a coupled production of, manual and machine. The production of their leather wasRead MoreEcco and Turkish Market2882 Words   |  12 Pageswell-known company with good brand and mission to globalize. During the report we figure out how Ecco can be profitable in turkey which is nonwestern with Islamic culture country. In this report we use theories like swot, porters five fore, and value chain to determine our problem statement and as a results we analysis the advantages and disadvantages, strength and weakness as well as threat and opportunities Ecco may encounter before and after it enters Turkish market. We have been able to comeRead MoreEcco2521 Words   |  11 Pageslong term plan of action or execution designed to achieve particular objectives, such as achieving competitive advantage for an organisation. It reflects the values, expectations and goals of those who are in power within the organisation.† (RDI course material-Strategic Management module; Unit 1-Nature and scope of strategic management; Lesson 1-Nature) Strategic decisions direct the company towards the path of growth. A company formulated and undertook decisions in such a way that a strategicRead MoreGlobal Value Chain Management1307 Words   |  6 Pagesunprofitable customers someone else will  » ECCO A/S – Global value chain management case study Wednesday, August 31st, 2011 at 8:27 am My operations management coursework was based on the ECCO A/S – Global Value Chain Management case study which is an interesting paper on ECCO A/S (ECCO) who have been very successful in the footwear industry by focusing on production technology and assuring quality by maintaining full control of the entire value chain from â€Å"cow to shoe.†. ECCO follow a differentiationRead MoreEcco Case5429 Words   |  22 PagesECCO CASE – PROJECT 1 Table of contentsî ¿ ¿ Table of contents Question Theory used in this report Data collection Company description Financial situation SW - Internal Value Chain Ramp;D Production Sales and Marketing Service Core competences Benchmark Ansoff’s matrix of growth GAP-analysis OT - External Porter’s 5 forces Force 1: The degree of rivalry Force 2: The threat of new entrants Force 3: The threat of substitutes Force 4: Buyer power Force 5: Supplier power Porter’s

Wednesday, May 6, 2020

Mark Twain’S Novel, The Adventures Of Huckleberry Finn,

Mark Twain’s novel, The Adventures of Huckleberry Finn, is a pivotal piece to American literature that furthers realism and the exploration of the countryside. The novel follows fourteen-year-old Huck on his journey down the Mississippi River accompanied by Jim, a runaway slave. Huck and Jim’s journey down the Mississippi River allows the readers a very personal look into Huck’s life as he matures and begins to think for himself, rather than complying with what society has told him is correct; it is Huck’s journey to find his own morals and ideas through his experiences that really make this book a lasting piece of American fiction. A major aspect of Huck’s journey to find himself is the fact that he must get away from his father to do†¦show more content†¦Ã¢â‚¬Å"’I—I run off.’† (156). At this point in the novel, Huck is faced with his first, big moral dilemma. During the time that the book takes place, slavery i s legal and anyone who helped a slave would be jailed. Huck, at fourteen, had to decide if he wanted to follow what the law and society would consider right by turning Jim in to Miss Watson, or what he felt was right. Jim pleads, â€Å"‘But mind, you said you wouldn’t tell—you know you said you wouldn’t tell, Huck.’ ‘Well, I did. I said I wouldn’t and I’ll stick to it. Honest injun I will. People would call me a low down Ablitionist and despise me for keeping mum—but that don’t make no difference. I ain’t agoing to tell, and I agoing back there anyways,’† (157). Huck’s actions in this scene set up the relationship with Jim that will develop throughout the remainder of the novel. Jim has already placed a large amount of trust in Huck because he does not report back to Miss Watson that her slave has run away as well as helping him move north. Huck’s trust and reliance on Jim is still minimal at this point, but will continue to grow as the two continue their trek down the Mississippi. While on the raft, Huck, in the canoe, and Jim, on the raft, lose each other due to a large amount of dense fog covering the river. Huck says, â€Å"I see the fog closing down, and it made me so sick and scared I couldn’t budge for most a half a minuteShow MoreRelatedDynamic Character in a Stagnant Time in Mark Twain’s classic Novel The Adventures of Huckleberry Finn594 Words   |  2 PagesMark Twain’s classic novel The Adventures of Huckleberry Finn took place during a tense period in U.S. history. Heated debate over the mora lity of slavery had sparked and deep divisions were emerging between the northern and southern states. Born in Missouri, a slave state, the novel’s protagonist Huckleberry Finn was raised on values of racism and prejudice. He adhered to these principles as they were all he knew. However, over the course of his journey, Huck’s formerly provincial morality was challengedRead MoreMark Twain and The Adventures of Huckleberry Finn1575 Words   |  6 Pages Mark Twain and The Adventures of Huckleberry Finn Controversy Mark Twain, born Samuel Langhorne Clemens, is a highly recognizable figure in American literature. Born in Florida, Missouri Mark Twain and his family moved to Hannibal, Missouri where Twain discovered and fell in love with the mighty Mississippi River. The river and his life in Hannibal became his inspiration and guiding light in most of his writing. Although Twain loved the river and did a great deal of traveling, he eventuallyRead MoreHuckleberry Finn Persuasive Essay1571 Words   |  7 Pagesthe right word is really a large matter- ‘tis the difference between the lightning bug and lightning.†(Mark Twain). Mark Twain, the author of an extraordinary yet controversial novel; The Adventures of Huckleberry Finn had a great way of capturing moments in time and bringing them to life through the use of meaningful and direct diction. The Adventures of Huckleberry Finn has been a vexed novel for it s a use of the â€Å"N-word†. However, many scholars and associations have devised a â€Å"solution† forRead More The Importance of Friendship in Mark Twains The Adventures of Huckleberry Finn829 Words   |  4 PagesThe Importance of Friendship in Mark Twains The Adventures of Huckleberry Finn Aristotle was once asked what he thought friendship was. His response was, One soul inhabiting two bodies. This was the kind of relationship that Huckleberry Finn and Jim shared in Mark Twains epic novel, The Adventures of Huckleberry Finn. This novel is a tool that Mark Twain, whose real name was Samuel Langhorne Clemmons, was using to impress the great benefits of friendship upon society. However, others feelRead MoreMark Twain : Seeing America s Flaws1593 Words   |  7 PagesMark Twain: Seeing America’s Flaws â€Å"You don’t know about me, without you have read a book by the name of The Adventures of Tom Sawyer , but that ain’t no matter. That book was made by Mr. Mark Twain and he told the truth, mainly. There was things he stretched, but mainly he told the truth† (qtd. in Jones 237). That was the very first line in Mark Twain’s controversial book, The Adventures of Huckleberry Finn. Samuel L. Clemens, as a young boy, grew up on the Mississippi and learned the ways of southernRead MoreMark Twain s The Adventures Of Huckleberry Finn2015 Words   |  9 Pagesfamous author Mark Twain, less commonly known as Samuel Clemens, produced The Adventures of Huckleberry Finn. A few years prior to the publishing of The Adventures of Huckleberry Finn, Mark Twain released possibly his most famous book, The Adventures of Tom Sawyer, which is very much an adventure novel. In the early chapters of Twain’s sequel, it appears that ¬Ã‚ ¬Ã‚ ¬Ã‚ ¬ The Adventures of Huckle berry Finn is another adventure novel, and that it is just following a different character from Twain’s earlier worldRead MoreHuckleberry Finn and the use of Satire Essay1109 Words   |  5 Pages Huck Finn and the use of Satire Mark Twains The Adventures of Huckleberry Finn has been controversial ever since its release in 1884. It has been called everything from the root of modern American literature to a piece of racist trash. Many scholars have argued about Huck Finn being prejudiced. In The Adventures of Huckleberry Finn, Mark Twain uses satire to mock many different aspects of the modern world. Despite the fact that many critics have accused Mark Twain’s novel of promoting racismRead More The Public Reception of Mark Twains Adventures of Huckleberry Finn963 Words   |  4 PagesReception of Mark Twains Adventures of Huckleberry Finn Upon its publication in 1884, Mark Twains Adventures of Huckleberry Finn was met with mixed reviews. Some reviewers called it flat, trashy, and irreverent. Others called it Twains best work yet, hailing his humor and style throughout the novel. Though obscure at first, reviews began to appear in many newspapers throughout the country as more and more became interested in the novel as a result of these reviews. Huckleberry Finn was publishedRead MoreCommentary on Mark Twain ´s Huckleberry Finn742 Words   |  3 Pagesbook by Mark Twain; Adventures of Huckleberry Finn.† Mark Twain’s historical fiction, Adventures of Huckleberry Finn, is about a boy, Huckleberry, and a runaway slave, Jim. Huck decides to fake his death and runaway. Eventually, Jim and Huck run into each other and together they travel down the Mississippi River. They encounter many obstacles in their way, but overcome anything that comes their way. Although this book has been rejected by many schools, The Adventures of Huckleberry Finn is essentialRead MoreRacism of Yesterday and Today Essay1655 Words   |  7 PagesThe Adventures of Huckleberry Finn was written by Mark Twain in the middle of the nineteenth century. Much of the inspiration for the book came from Mark Twain’s own encounters. Twain’s experiences as a steamboat pilot from 1835 to 1845 provided a great deal of the historical context for his work. The novel revolves around a southern boy, Huck, and a slave named Jim who both reject society by running away in hopes of finding freedom. The Adventures of Huckleberry Finn highlights and portrays the

Study of Basel II and Financial institution strategic management Free Essays

INTRODUCTION Banks play an important role in central importance for economic growth, credit allocation, financial stability, and the competitiveness and development manufacturing and service firms. The features of Sweden banking systems have changed significantly around the past 20 years. The increased availability of credit has been the corollary of the dismantling of barriers of trade in Sweden financial services. We will write a custom essay sample on Study of Basel II and Financial institution strategic management or any similar topic only for you Order Now Sweden banking and finance sector went through many considerable changes in recent years which results in competition, not only between old big banks but also among new Swedish and foreign financial institutes. The main characteristics are that banking and finance has been liberalized and deregulated in Sweden. In Sweden banks have long experience in international business and International banks are now highly active. Before entering into the details of the above given reasons, we will be looking at the main structure of the Sweden’s banking system. In Sweden there are three different types of banks: commercial banks, i.e., limited liability banking companies, savings banks and a few cooperative banks. All these types of banks are entitled to participate in all types of banking activity. Because of mergers the number of banks has declined sharply, a tendency that has been most marked among the savings banks. From some 450 savings banks of the 1950s, the number had decreased to 85 by the late 1990s. Since the middle of the 1980s, however, numerous new banks have been established in Sweden. The two tired market structure can be described as with five large banks (Handelsbanken, Skandinaviska Enskilda Banken, Nordbanken and Forenings Sparbanken as well as the Swedish subsidiary of a major Danish bank) having a combined market share of about 75–85 percent; the rest market is shared among around 100 smaller banks. The home market for Swedish banks has to a greater extent been seen to cover not only the traditional Nordic area but also the whole region surrounding the Baltic Sea. The four major Swedish banks are very broadly held. The largest owners are the Swedish government (less than 20 percent in Nordea), the Wallenberg-led investment company Investor (some 10 percent in SEB), the employees’ pension fund (some 10 percent in Svenska Handelsbanken), and the former savings banks foundations (some 20 percent in Swedbank, which was earlier a savings bank, which merged with a cooperative bank and became a commercial bank). Approximately one third of bank shares are held by non-Swedes. The medium and small-sized banks are generally held by one dominating owner, which in turn may have a widely spread ownership, such as Skandia. All savings banks are non-profit organizations and they are held by foundations. The Swedish Financial Supervisory Authority is a government authority responsible to the MoF. It exercises supervision over banks, credit market companies, and additionally e.g., insurance companies, insurance brokers and securities companies. The Central Bank Act assigns to the Riksbank the responsibility to ensure a stable and efficient payment system. It also assigns to the Riksbank the responsibility for monetary and exchange rate policy (including the management of the gold and currency reserves), as well as managing the issue of notes and coins, providing a clearing function for banks as well as accepting deposits from banks and granting them loans. The Central Bank also functions as lender of last resort providing financial aid to banks experiencing liquidity problems. Early 1990s, Sweden was in the middle of the most serious economic crisis. During that crisis unemployment has increased dramatically in the course of a few years and as a result the central government finances dropped. The reason behind this was assigned to deregulatory measures taken in 1985 which added to overly repaid credit expansion which contributed to a banking crisis followed by a currency crisis in 1990. The deregulation result was obvious. In just five years, the credit to GDP ratio for private sector moved up from 85 to 135 per cent (Governor Backstrom, 1997). Credit market deregulation in 1985 was important in it, meant that the monetary conditions became more expansionary. This co-occurred, moreover, with rising activity, comparatively high inflation expectations and tax system that favoured borrowing, and remaining exchange controls that held investment in foreign assets. In the absence of a restrictive economic policy to block all this, the free credit market headed t o a quickly growing stock of debt. The credit boom coincided with rising share and real estate prices. In the second half of the 1980s, real aggregate asset prices increased by over 125 per cent. A speculative bubble had been yielded. As time goes on the Swedish economy became increasingly insecure to shocks. In the late 1980s, competitiveness had been eroded by the relatively high inflation which results in an overvalued currency. This made exports to weaken and intended that the fixed exchange rate policy began to be questioned, heading to periods with relatively high interest rates. On the other hand, the tax system was rectified in order to decrease its harmful economic effects but this also added to higher post-tax interest rates. Economic activity turned downwards and asset prices started to fall. From 1990 to 1993 GDP dropped by 6 per cent. Unemployment hit up from 3 to 12 per cent of the labour force and the public sector; grow worse to 12 per cent of GDP. A wave of bankrupt cies was a great blow to the banking sector, which in this period had to plan for loan losses equivalent of 12 per cent of annual GDP. After this crisis when Basel II came into practice than Sweden banking sector’s golden period began, as common International regulation and model for the banking industry, the reliability and development of financial systems and also important for countries’ economy. One such framework is Basel II which was introduced in 2004. It is grounded on Basel I which comprised of a credit risk measurement guideline and minimum capital requirement. Basel II dwells of three pillars in that minimum capital requirement, the supervision process, and market discipline are regulated (Finansinspektionen 2002). The main purpose of Basel II is to lessen banks capital requirement, by offering them the ability to choose the methods that reflect their calculating risk (BCBS, 2004). A study called the fifth quantitative impact study (QIS 5) presented in 2006 by the Basel committee on banking supervision(BCBS) that was based on data from the fall of 2005 (Finansinspektionen 2006 )and the purpose was to analyse how Basel II affect bank with regard to their capital requirements. The study showed that if we compare Basel I and Basel II, minimum capital requirement could be reduced in Basel II. After QIS 5 BCBS had not presented any other study showing how Basel II had affected the banking industry and mainly study aspires to fulfil part of that gap by analysing how capital ratio, the net credit loss level and the degree of disclosure have progressed for the four largest banks in Sweden during the implementation of Basel II as this has not previously been looked at. Hypothetically the impact Basel II has had on these variables will be presented based on these observation. The Swedish financial market and other factors Efficient and reliable systems for saving, financing, mediating payments, and controlling risk are vital for the well-being of the Swedish economy. These systems are managed by banks, insurance companies, securities companie; other types of enterprise and other credit institutions in the financial sector. The financial industry account for just over four per cent of the country’s total output, defined as its Gross Domestic Product (GDP). More than 90,000 people, about two per cent of the country’s total working population, work in the Swedish financial industry. The financial sector has expanded dramatically during the past decade. Established companies have extended scope of their business, and many new companies have started entering the markets. One crucial change is that banks and insurance companies interfering into each other’s areas, and as a consequence, all of Sweden’s major banks are now in the life insurance business and some insurance companies own their own banks. On the other hand customers are banking more and more via the internet or the phone. These new facilities have changed the development of new services and compounded competition on the banking market through the establishment of new banks. Moreover, Swedes are investing mostly in funds and insurance policies as they turn away from traditional bank saving. Approximately more than 85 per cent of the population in Sweden have some of their savings in funds or equities, which is a very high proportion by international standards. Deposits and lending The core activity of a bank is to accept deposits and provide credit. At the end of 2002, bank deposits from the public (i.e. mainly households and non-financial enterprises) amounted to 1,242 billion kronor. The bulk of these deposits – approximately 42 per cent – come from Swedish households. Swedish companies account for around 32 per cent of total deposits and foreign depositors for some 22 per cent. Bank lending has increased in recent years, to reach 1,360 billion kronor by the end of 2002. 47 per cent of this lending to the public goes to the Swedish business sector, while households and foreign borrowers account for 21 per cent and 27 per cent respectively. Interest rates The interest rates banks set for their deposits and credit are largely dependent on the rates prevailing on the money market. Other factors that influence interest rates include the creditworthiness of the borrower, competition among credit institutions, and competition for different types of saving. The average rate of interest paid and charged by the banks has been declining steadily since the beginning of the 1990s. The interest spread – the gap between the average interest rate received on credits and that paid on deposits – has also tended to narrow during the same period. Safe and efficient payment mechanism Another important function of a bank is to provide a means of payment. The Swedish payment system, which includes the bank giro service and the postal giro, is technically rather advanced, and has a reputation for efficiency. This means that payments are transacted quickly, securely and at low cost. Mortgage market In Sweden, mortgage loans are usually provided by specialist credit market companies known as mortgage credit institutions. The total volume of outstanding loans of these institutions amounted to SEK 1,200 billion at the end of 2002. For many years now, lending by mortgage credit institutions has exceeded the volume of bank lending in Sweden. The mortgage credit institutions provide credit primarily for residential property, but also for commercial and office buildings and municipalities. Mortgage loans are secured by collateral, normally in the form of a mortgage on the property. The lending consists of a first mortgage, which involves pledging the property for up to 70-80 percent of its value. Additional credit is then often provided in the form of a second mortgage by the bank that owns the mortgage institution or by another bank with which the institution co-operates. Mortgage institutions offer a wide range of credit facilities at variable or fixed interest rates. Internet banking Swedish banks are among the most advanced in internet banking services. All major banks in Sweden offer online status on accounts and other assets, online payments, and the possibility to buy and sell units in funds and shares. Corporate customers have been able to bank via the internet for many years. At the end of 2009, there were a total of around 50, 00000 internet banking users and approximately 15million internet payments. Internet surveys show that customers are very pleased with the Bank’s online service. This was confirmed by IBM and Interbred, which ranked FSB as number one in Europe and number two in the World (Swedbank Annual Report, 2009). Monetary policy update The Swedish economy is performing well, and GDP grew by almost 7 per cent in the third quarter of this year, compared with the same quarter last year as the fig shown below. The strength of the Swedish economy is also reflected in the labour market statistics. The labour market has been recovering throughout 2010 and indicators point to a continuing rapid improvement. The world economy is expected to grow by a good 4 per cent a year in the coming years. Economic activity remains good in the emerging economies in Asia and Latin America. In both the United States and the Euro zone, economic prospects look slightly better in the short run than was forecast in the October Monetary Policy Report. At the same time, the global imbalances remain and concern over public finance in several countries has increased. Despite the relatively divided international outlook, the indicators for the Swedish economy point to continued strong growth in the coming period. GDP growth is expected to amount t o 5.5 per cent in 2010 and to over 4 per cent in 2011, and then to decline. The recovery has been relatively rapid and Sweden is also expected to experience higher growth than many other countries in 2011. As the graph below shows that resource utilisation is currently lower than normal, but is expected to be normal or slightly above normal towards the end of the forecast period. Underlying Inflation measured as the CPIF was 1.9 per cent in November. It is expected to fall at the end of 2011 and then rise again towards 2 per cent. Higher mortgage rates will lead to the CPI rising slightly faster than the CPIF and it is expected to exceed 2.5 per cent in 2013. In the longer run, when the repo rate stabilises, the two measures of Inflation will coincide. To stabilise Inflation close to the target of 2 per cent and avoid resource utilisation becoming too high, there is a need to gradually raise the repo rate towards more normal levels. The repo rate is therefore being raised to 1.25 per cent. The forecast for the repo rate remains largely unchanged in relation to the forecast in the October Monetary Policy Report. Environmental factors in Sweden banking Sweden is a democratic monarchy. It is the largest Scandinavia country with over 9 million inhabitants. Sweden has been known for its neutrality and policy of non-alignment with either NATO or the Warsaw Pact. It is a member of most international organizations (UN, UNESCO, WHO etc). Sweden has been a member of the European Union since 1995 but decided not to join EMU. A referendum in 2003 rejected the euro by a decisive margin – against the advice of the government and the wishes of business. The Prime Minister stated it was unlikely there would be a new referendum before 2010. Key economic indicators for 2008 estimates (Source: Central Intelligence Agency Country Profiles) 69.6% of the economy is in the services sector, 28.9% industrial and 1.5% agriculture. Population: 9,045,389 GDP: USD 358.4 billion Per capita GDP: USD 39,600 Real GDP growth: 0.9% Unemployment: 6.2% Public debt/GDP: 36.5% Cash Management Features Activity is highly automated with major activity inside the Bankgirot and Plusgirot systems. Rather than hold accounts in both and maintain liquidity in both, it is possible to hold accounts just at the Nordea group, into which the Plusgirot has been subsumed. The EUR has emerged as a parallel domestic currency for business, notwithstanding Sweden’s rejection in 2003 of EUR membership. The old E-RIX system that was connected to TARGET and used to settle domestic EUR trade has been abolished. EBA is now used to settle EUR transactions. Group account (Balance netting) is the preferred Liquidity Management technique domestically, and can be used for both single and multi-currency. Zero balancing is also available domestically and is getting more common than earlier due to multinational corporate customer Payment infrastructure in Sweden Most Swedish companies have a business account in a Swedish bank. The majority of domestic non-cash payments are affected through the two giro systems, PlusGirot and Bankgirot. PlusGirot -: The PlusGiro system is a part of Nordea. Thus, Nordea is the only bank in Sweden that can provide a connection to both PlusGirot and Bankgirot in SEK or EUR, meaning an all-in-one account for all the payments regardless if they are routed through the PlusGiro or the Bankgiro system. Bankgiro -: The Bankgiro system is operated by Bankgirocentralen AB (BGC), a bank-owned subcontractor of payment processing services. All banks in Sweden participate in the Bankgiro system. It functions as an automated clearing house (ACH). Payments can be made in SEK or EUR. Payment Instruments The vast majority of activity clears electronically: there is a high degree of automation. This is supported by very high usage of internet for payment initiation. There is still a form of paper-based credit transfer but the clear growth is in electronic initiation. This extends to electronic bill presentment, where the debtor can initiate a credit transfer in their electronic banking by clicking through form the bill itself. In terms of volume, credit transfers and debit cards are the most used, whilst in terms of value it is credit transfers. Sweden has a high density of ATMs and EFTPOS, and this is the part of the payments market that is growing most dynamically. 1) Cheques 2) Electronic payment ( The RTGS system in Sweden is operated by the Riksbank) 3) Cards 4) Internet banking These all are the factors in the Sweden banking environment which make the Sweden banking system much stronger than any other banking system. Sweden is capable of providing all the facilities to its consumers and its partners domestically and internationally and Sweden is having the biggest usage of internet banking amongst all other countries and more advance at this moment. Future Aspects of Sweden The Riksbank’s financial stability works in 2011 was largely characterised by the financial crisis and its aftermath. After having stabilised in the winter of 2010/11, unease again increased in the financial market in springs 2010 as consequence of the state of the public finances of several countries in the southern Europe. The unease became acute in May in connection with the downgrading of the Greek government’s credit rating. The aftermath of the financial crisis is the extensive work continued of reforming national and international regulatory codes and improving supervision of the financial crisis. An important part of this work in Sweden is to clarify the Riksbank’s responsibility for financial stability. New international regulatory frame work A large part of the Riksbank’s stability work was focused during the year , as in 2010, on studying and influencing the framing of the future financial regulatory framework of future financial regulatory framework and supervision .since Swedish banks and financial institution are governed by law framed at EU level, which in turn to a great extent are based on guideline drawn up by other international bodies, the Riksbank participated in continued discussions both at EU level and within the bank of international settlement (BIS). During the year a new regulatory framework for financial institution called Basel III was established. Increased cross-border work The financial crisis has shown that there are great differences in the legislation at national level. Because of these differences, during the crisis it was difficult to handle problem in banks that operates in several different countries. Consequently several international projects are in progress that, address how banks with cross border operations are to be dealt with (For Example, First Deputy Governor of the Riksbank Svante Oberg). In 2010 the Riksbank also took part in the preparatory work ahead of the start-up of the new European system risk board (ESRB) in 2011. A coherent regulatory framework and cleaner division of roles between authorities in Sweden In view of the lessons learned from the financial crisis and the extensive regulatory work that is in progress in the international arena, the Riksbank believes that it is important to carry out a thorough overhaul of the financial regulatory framework in Sweden as well. The general Council of the riksbank and the executive board of the riksbank and the executive board of the Riksbank accordingly proposed in a joint submission to the Riksdag that one or several inquiries should be set up to review the regulatory framework in the financial sector. The Swedish banks’ resilience continued to improve in the second half of the year as a result of the economic recovery the situation of the Swedish bank continued to improve. The economic recovery had become stronger than previously expected. Consequently, the Swedish banks loans loss continue to fall and according to Riksbank forecast in the financial stability report in December they were lower than the Riksbank had expected in June. References: Anonymous, (May 2010). Sweden: financial sector assessment program –detailed assessment of observer of standard and codes, international monetary fund Washington DC. Dec 2010, Monetary policy updates, SVERIGES RIKSBANK. Ekstrom , F., Johansson, E. (2011). The development of the Swedish banking industry during the implementation of Basel II Rai , S. (2007). Central Banking System. A bench marking study of India and Sweden. Sweden Banking Environment (Accessed on 07 April 2011). 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Sunday, April 26, 2020

Paranormal Activity Essay Example

Paranormal Activity Paper Paranormal Activity: Analysis and Critique Rick Mitchell September 12, 2011 ENG 225: Introduction to Film Instructor: Alene Morrison Paranormal Activity was a movie that everyone wanted to see as soon as the previews hit the movie screen. The previews showed the viewer small pieces of the movie so they would be left wondering and want to go see the movie as soon as they could. Paranormal Activity was based on a true story about a young couple dealing with a paranormal entity. The young woman,Katie, was the one being haunted while her boyfriend, Micah, made home videos of all the mysterious things that were happening in the house. The different camera angles, cinematography, editing and the way the story unfolds in front of the audience are the things that make this movie so captive. Storytelling A film will have more success if it starts with a good story. (Goodykoontz, 2011) Paranormal Activity is a film that not only starts with a good story but keeps that story going through the entire movie. The story being told in a film is what draws the attention of the audience. It evokes emotion in the audience and makes them care about the story, watching to know how it ends, and it makes them care about the characters. In Paranormal Activity, the audience gets attached to the couple hoping that they rid their lives of this entity and â€Å"live happily ever after†. In the end the boyfriend, Micah, dies and the girlfriend vanishes without a trace. It leaves everyone wondering what happened to her and at the same time they are saddened by the death of Micah. We will write a custom essay sample on Paranormal Activity specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Paranormal Activity specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Paranormal Activity specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Acting Paranormal Activity was made to look like nobody was acting, everything is natural. It is home video footage collaborated together into a movie to be viewed by an audience. When the audience is watching the story unfold, they can relate to the fear that the characters are feeling. Every movement, expression and reaction to events is so real that the viewer can’t help to feel the emotions of the characters and have an instant reaction of fear throughout the entire film. Sound Throughout the movie the only sounds you hear are natural sounds. There are no sound effects or music playing. By doing this I think that it help the audience focus on the story that is being told. If there were any special sounds effects then the audience would not be able to focus on the sounds that are being made by the paranormal entity and that would take away from the film. In most cases, the sound effects or a score added at a certain point would add to the movie but with this particular film anything extra would ruin the movie. Editing, Style and Directing What makes this film so great and captive is the lack of any obvious editing or directing. There were some moments in the film where some minimal editing was done. When watching the home videos shot at night they speed up time and obviously not all of the footage is shown, only the parts that help tell the story. There is absolutely no sign of any directing being done. A director’s job is to direct the characters in a way that helps the writers original story come to life. In Paranormal Activity, everything is more natural. The characters in the movie are reacting to situations in a natural way and telling their own story without the help of a director to tell them what to do. This movie follows the style of reality television. Everything is raw and unscripted and the only editing done is when the unimportant, unrelated scenes are cut out. Critique Paranormal Activity is an all-around amazingly made film. The story being told unfolds so well which is usually the result of a well-written story that is skillfully directed. The complete lack of a written story and directing is what makes this film so attractive. When the movie came out on DVD for home viewing they added an alternative ending. Adding the alternative ending was probably the worst part of the home viewing experience and almost made the movie less interesting. Because the viewer has the option of changing how the story ends that takes away from the realism that is portrayed in the film. It leaves people wondering if the movie was actual footage that was found and made into a movie or if it was a movie that was made to look like home video footage. The alternate ending adds confusion to a movie that was intended to be straight forward rather than confusing. Everybody that worked together to make this film possible did an amazing job. When the hauntings are going on there are no obvious special effects which leaves the audience wondering how it was done. Everything is so incredibly real that it leaves the audience wondering if it is in fact actual home footage or if it was just a genius director and screen writer and amazing actors. If this movie was made exactly the same but used well-known actors it would take away from the realism that is being conveyed. Conclusion Although the opening credits of Paranormal Activity state that the following movie is actual footage found after the death of Micah and disappearance of Katie, there is in fact a director. This movie was made in the simplest fashion using camera angles, lighting and the pure lack of acting to make it believable for the audience. References: Goodykoontz, B. (2011). Film: From Watching to Seeing retrieved from https://content. ashford. edu/books/

Wednesday, March 18, 2020

The Legal Aid, Sentencing and Punishment of Offenders Act 2012 in the context of utilitarian and retributive theories on punishment Introduction The WritePass Journal

The Legal Aid, Sentencing and Punishment of Offenders Act 2012 in the context of utilitarian and retributive theories on punishment Introduction Introduction The Legal Aid, Sentencing and Punishment of Offenders Act 2012 in the context of utilitarian and retributive theories on punishment Introduction was passed by the UK Parliament in order to introduce measures conducive to the reform of the criminal justice system. Amongst the most important measures introduced by the Act, it is possible to mention the greater amount of discretion given to the court system in order to grant conditional discharges to youths entering a guilty plea for first offences as well as the tougher conditionalities imposed through the expansion of the youth rehabilitation order system (Sprack, 2012: 9). In addition, the legislation expands the provisions made for the punishment of hate crimes and makes ‘squatting’ a criminal offence. Furthermore, it severely curtails the scope under which legal aid may be granted. In this essay I will concentrate on analysing the legal provisions of LAPSO from the standpoint of the retributive and utilitarian theories of punishment. Summary and background Section 142 of LAPSO creates new offences to cover those who have a bladed or pointed article or offensive weapon with them in a public place or school premises and go on to threaten a person with it in such a way as to cause immediate risk of serious physical harm to that person. The Government’s aim in creating the new offences was set out by Ministers during the passage of the legislation through Parliament: Knives on our streets are a social scourge. That is why the unlawful possession of a bladed or pointed article or offensive weapon is already a serious criminal offence carrying a maximum custodial sentence of four years. Clause 1131 goes further than those possession offences. Our aim, through the clause, is to send a clear message to those in possession of a bladed or pointed article or offensive weapon, that if they then go on to threaten and cause an immediate risk of serious physical harm to another person they can expect an automatic custodial sentence (Hansard 13 October 2011: Column 803). The new offences are designed to strengthen the existing legislative framework by targeting behaviour that amounts to more than simple possession, but does not go so far as resulting in the injury of the victim (for which other existing offences would apply). The offences under this section will apply in England and Wales; be triable either way, and subject to a maximum penalty of 4 years’ imprisonment on indictment (or, where the offender is under 18, a 24 month Detention and Training Order (by virtue of the Sentencing Act 2000, s101(1)). Key to meeting the aim of the provisions is that the courts are required to impose a minimum custodial sentence of 6 months for adults or a detention and training order of at least 4 months’ duration for 16 and 17 year olds (unless there are particular circumstances relating to the offence or offender which would make it unjust to do so in all the circumstances). Section 143 of LAPSO creates a new offence of causing serious injury by dangerous driving, punishable by up to five years imprisonment. Dangerous driving is currently an offence under section 2 of the Road Traffic Act 1988 (The â€Å"RTA 1988†) and attracts a maximum penalty of two years’ imprisonment. In addition, causing death by dangerous driving under section 1 of the RTA 1988 attracts a maximum penalty of 14 years’ imprisonment. There has long been pressure for change in road traffic law to close a perceived ‘gap’ in sentences between the current two year maximum for dangerous driving and the 14 year maximum for causing death by dangerous driving. The new offence responds to road safety campaign groups, victims and their representatives who have called for increased sentences to be made available for those who cause serious injury by driving dangerously. Parliament responded to need to protect the public by instituting the new offence of causing serious injury by dangerous driving targets, extending sentencing powers at the most serious end of the spectrum of dangerous driving incidents. That will be reflected in the higher maximum penalty of five years’ imprisonment. The new offence will be committed when a person drives a mechanically propelled vehicle dangerously on a road or other public place causing serious injury to another person. In England and Wales, the test for ‘serious injury’ will be the same as for ‘grievous bodily harm’. For the purposes of the Offences against the Person Act 1861, grievous bodily harm (GBH) has been given the accepted definition of ‘really serious harm’. The offence will apply to Scotland as to England and Wales. However, as Scottish law does not contain the same definition of GBH, the test for serious injury will be the same as that applied by Scottish courts to â€Å"severe injury’ as that applied to â€Å"severe injury† in agg ravated assault cases. The tests proposed will ensure that there is parity as to the severity of harm required in order for the offence to be made out (LAPSO, 2012, Section143). The new offence will be triable either way and subject to a maximum penalty of five years imprisonment, or a fine, or both. The maximum penalty on summary conviction in England and Wales will be six months’ imprisonment or a  £5,000 fine, or both. In Scotland (due to the different allocation of business between the summary and solemn courts) the maximum penalty on summary conviction will be 12 months’ imprisonment or a  £10,000 fine, or both. In both jurisdictions, the maximum sentence on conviction on indictment will be five years’ imprisonment or an unlimited fine, or both (LAPSO, 2012, Section 143). The Legal Aid, Sentencing and Punishment of Offenders Act 2012 and the concepts of retributive and utilitarian punishment The concept of retributive justice is based on the assumption that stipulating a proportionate amount of punishment serves as an efficient way to deal with the spread of crime. It is assumed that when an individual offends, s/he is giving up his/her right to enjoy equal treatment (Moore, 1997: 59). Consequently, a retributive punishment is enforced in order to take away the right to equal treatment from the offender. This punishment theory is differentiated from notions of vigilante or revenge justice, since the imposition of punishment is dependent on the performance of a wrongdoing on the part of the individual, in accordance with established procedural norms (Nozick, 1981: 366). It is plain to see that the provisions of LAPSO in regards to dangerous driving and the carrying of the possession of offensive weapons have a retributive aspect in mind. The retributive notion of punishment would look at the provisions of this legislation as an instrument to rectify the advantage unfairly obtained by the perpetrator when s/he committed the crime (Whitehead and Lab, 1998: 321). It could be argued that there is a notion of responsibility which has been significantly eroded in modern society, which makes it easier for drivers to be reckless when driving and for criminals to be more audacious about carrying offensive weapons. In this context, the provisions of LAPSO are geared towards recalibrating the balance between wrongdoing and desert when ascertaining the right type of punishment. It is important to add that the retributive perspective sees punishment as a social good which redresses the economic and social effects that crime has on individuals.   From this perspective, it could be posited that retributive punishment reduces the scope for vigilante justice as society is likely to be more satisfied with the end of result of the criminal justice process; geared towards punishing those who break the norms and legislation validated by the social contract (Moore, 199 7: 55).   The sentencing philosophy which seems to guide this piece of legislation is geared towards ensuring that punishment is, at the very least, partially scaled in order to redress the infringement of rights suffered by the victims. It could be postulated that the promulgation of this provisions by Parliament adhere to the principle of retributive punishment by scaling the notion of justice to the need to ensure that the transgressor is punished in equal proportion to those who suffered from the wrongdoing (Kant in Ezorsky (ed.), 1972: 103). Utilitarianism takes a close look at the consequences generated by the actions of the offender and how these impact on a particular social group (Corlett, 2008: 19). Questions of rightness are wrongness are evaluated by utilitarianists according to a putative point of equilibrium between good and bad that arises from particulars actions undertaken by individuals.   In the context of punishment theory, this principle applies when considering whether a particular sentence would produce the greatest level of happiness for society at large.   This is of particular relevance to the punishment meted out against offenders found guilty of the crimes specified in Section 142 and 143 of LAPSO. The rationale behind the introduction of this legislation adheres to some of the parameters delineated by the utilitarianist theory of punishment. In essence, the drafters of the legislation prioritised the need to protect the population from reckless drivers and weapon-carrying criminals, which could have potentially detrimental consequences for the social order (Smith, 2008: 32).   Although the utilitarianist principle tends to look at the notion of punishment as inherently evil, inasmuch as it causes suffering for the individual who committed the offence, the retribution imposed by the legislation has to be examined within the context of the social good that derives from preventing the practice of dangerous driving and the carrying of offensive weapons (Bentham, 1948: 129). The sentencing rationale behind the legislation purports to look at the issue of crime from the standpoint of preventing potential offenders from inflicting harm upon society. By doing so, the Act ensures the happiness of the greatest number and a general reduction of harm (Smith, 2008: 30). There have been attempts to establish a middle ground between both concepts of punishment. It has been postulated that punishment should only be carried out when the implications of doing so does not produce a negative outcome (Hart in Hart (ed.), 1968: 25). Whilst this view makes provisions for question of desert and justice, as it is not intrinsically opposed to the idea of punishing crimes, it also allows room for the examination of the potential consequences of punishment. This has important societal connotations, since communities are increasingly demanding a larger amount of protection from the evils of crime (Garland, 2001: 48). It would appear that this notion provides a useful framework of reference in the evaluation of the provisions attached to the Act. Whilst adopting a distinct utilitarianist approach, the Act seems to be worded in a manner which denotes a close examination of the potential consequences of being too profligate with the amount of punishment stipulated for the offences that it deals with (Hallsworth and Lea, 2011: 157). Conclusion In conclusion, it could be argued that the Legal Aid, Sentencing and Punishment of Offenders Act 2012 includes a measured dosage of retributive and utilitarianist notions of punishment to its sentencing philosophy. To being with, the Act scales the concept of punishment to the need to ascertain that the offender received an amount of punishment which is proportionate to the suffering caused to the victim of the crime (Kant in Ezorsky (ed.), 1972: 104). At the same time, the provisions included in the legislation also seem to have a utilitarianist perspective, inasmuch as it attempts to induce ‘the greatest amount of happiness for the greatest amount of people’ by ensuring that the Act reduces the spectrum of harm caused by offenders. The wording included in the legislation suggests that the drafters examined the potential consequences of the Act by making reference to the need to protect society from harm (Garland, 2001: 57). Nevertheless, it could be concluded that the stipulations included in the legislation are framed for the purposes of ensuring that the sentencing philosophy which underpins it is not conducive to generating unintended negative consequences for the wider societal spectrum. Bibliography Bentham, M., ‘Squatting to become a criminal offence’, Evening Standard (London), 1/5/2012 Bentham, J. (1948) The Principles of Morals and Legislation, Hafner Publishing Company, New York, NY Bowcott, O., Cost of youth crime rises to  £1.2bn a year, The Guardian, 1/12/2010 Corlett, J. (2008) Responsibility and Punishment, Springer-Verlag, New York, NY Criminal Justice Act 1988 Davis, M. (1992) To Make the Punishment Fit the Crime, Westview Press, Boulder, CO Garland, D. (2001) The Culture of Control: crime and social order in contemporary society, Oxford University Press, Oxford Hallsworth, S. and Lea, J. (2011) Reconstructing Leviathan: Emerging contours of the security state, Theoretical Criminology, Volume 15, Number 2, May 2011, pp. 141-157 Hansard, 13/10/2011: Column 803 Hart, H. (1968) Prolegomenon to the Principles of Punishment in Hart H. (ed.) Punishment and Responsibility: Essays in the Philosophy of Law, Oxford University Press, New York, NY Hitchens, P. (2003) A Brief History of Crime, Atlantic Books, London Hudson, B. (2003) Understanding Justice: an introduction to ideas, perspectives and controversies in modern penal theory, Open University Press, Buckingham Kant, I. (1972) Justice and Punishment in Ezorsky, G. (ed.) Philosophical Perspectives on Punishment State University of New York Press, Albany, NY Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO), HMSO, London Legal Aid, Sentencing and Punishment of Offenders Act 2012 -Explanatory notes Moore, M. (1997) Placing Blame- A General Theory of the Criminal Law, Oxford University Press, Oxford Nozick, R. (1981)  Philosophical Explanations, Harvard University Press, Cambridge, MA Prevention of Crime Act 1953 Road Traffic Act 1988 Smith, P. (2008) Punishment and culture, Chicago University of Press, Chicago, IL Sprack, J. (2012) A Practical Approach to Criminal Procedure, Fourteenth Edition, Oxford University Press, Oxford Wacquant, L. (2009) Punishing the Poor: the neoliberal government of social insecurity, Durham, NC Whitehead, J. and Lab, S. (1998) Juvenile Justice: An Introduction, Anderson Publishing Co., Cincinnati, OH

Monday, March 2, 2020

Conversation Using Reported Speech Lesson Plans

Conversation Using Reported Speech Lesson Plans Reported speech is also known as indirect speech and is commonly used in spoken conversations to report what others have said. A keen grasp of correct tense usage, as well as the ability to correctly shift pronouns and time expressions, is essential when using  reported speech. The use of reported speech is especially important at higher English levels. Students  are fine-tuning their communication skills to include expressing the ideas of others, as well as their own opinions. Students usually need to focus not only on the grammar involved but also on production skills. Reported speech includes some rather tricky transformations that need to be practiced repeatedly before students feel comfortable using reported speech in everyday conversations. Finally, make sure to point out that reported speech is generally used with the verbs say and tell in the past.   Hell help him with the homework. - She told me he would help me with my homework.   However, if the reporting verb is conjugated in the present tense, no reported speech changes are necessary. Im going to Seattle next week. - Peter says hes going to Seattle next week.   Lesson Outline Aim: Developing reported speech grammar and productions skills Activity: Introduction and written reporting activity, followed by spoken practice in the form of a questionnaire Level: Upper-intermediate Outline: Introduce/review reported speech by making simple statements and asking students to report what you have said. Make sure to emphasize reporting in the past (i.e., the teacher said, NOT the teacher says)Provide review sheet of principle reported speech transitions (included in lesson printout pages)Have students get into pairs and convert the reported speech paragraph into the direct speech form.Correct worksheet as a class.Ask students to divide up into new pairs and ask each other questions from the questionnaire. Remind them to take notes on what their partners say.Have students divide into new pairs and ask them to report what they have learned about the other students to their new partner (i.e., John said he had lived in Breubach for two years).Follow-up with class conversation focusing on problematic tense transformations. Reported Speech Study the following chart carefully. Notice how reported speech is one step back into the past from direct speech. Tense Quote Reported Speech present simple I play tennis on Fridays. He said he played tennis on Fridays. present continuous Theyre watching TV. She said they were watching TV. present perfect Shes lived in Portland for ten years. He told me she had lived in Portland for ten years. present perfect continuous Ive been working for two hours. He told me he had been working for two hours. past simple I visited my parents in New York. She told me she had visited her parents in New York. past continuous They were preparing dinner at 8 oclock. He told me they had been preparing dinner at 8 oclock. past perfect I had finished in time. He told me he had finished in time. past perfect continuous She had been waiting for two hours. She said she had been waiting for two hours. future with will Ill see them tomorrow. He said he would see them the next day. future with going to Were going to fly to Chicago. He told me they were going to fly to Chicago. Reported Speech Reference Time Expression Changes Time expressions such as at the moment are also changed when using reported speech. Here are some of the most common changes: at the moment / right now / now -  at that moment / at that time Were watching TV right now. - She told me they were watching TV at that time. yesterday - the previous day / the day before I bought some groceries yesterday. - He told me he had bought some groceries the previous day. tomorrow - the following day / the next day Shell be at the party tomorrow. - She told me she would be at the party the next day. Exercise 1: Put the following paragraph in the reported speech into the  conversational form using direct speech  (quotes). Peter introduced me to Jack who said he was pleased to meet me. I replied that it was my pleasure  and that I hoped Jack was enjoying his stay in Seattle. He said he thought Seattle was a beautiful city, but that it rained too much. He said that he had been staying at the Bayview Hotel for three weeks and that it hadnt stopped raining since he had arrived. Of course, he said, this wouldnt have surprised him if it hadnt been July! Peter replied that he should have brought warmer clothes. He then continued by saying that he was going to fly to Hawaii the following week, and he that he couldnt wait to enjoy some sunny weather. Both Jack and I commented that Peter was a lucky person indeed. Exercise 2: Ask your partner the following questions making sure to take good notes. After you have finished the questions, find a new partner and report what you have learned about your first partner using reported speech. What is your favorite sport and how long have you been playing/doing it?What are your plans for your next vacation?How long have you known your best friend? Can you give me a description of him/her?What kind of music do you like? Have you always listened to that kind of music?What did you use to do when you were younger that you dont do anymore?Do you have any predictions about the future?Can you tell me what you do on a typical Saturday afternoon?What were you doing yesterday at this time?Which two promises will you make concerning learning English?

Friday, February 14, 2020

Financial statements Research Paper Example | Topics and Well Written Essays - 1000 words

Financial statements - Research Paper Example The documents that constitute the financial statements include the balance sheets, income statements, cash flow statements and the statements of shareholders’ equity (Sinha, 2007). There are some aspects of relationship between these financial records. The three financial records are used to show the financial situation of the company. First, a balance sheet is a financial statement that is used to show what a company owns and what it owes to others, in terms of the assets and the liabilities of the company (USEC, 2007). The income statement is used to show the amount of money that the organization made and how much money it spent within a given financial period, which could range from monthly, to quarterly or annually. On the other hand, the cash flow statements serve to indicate the monetary exchanges that an organization has had with the outside world, within a specified duration of time. The similarity in all these financial records is that they serve to indicate the finan cial situation of the organization after its interaction with the other stakeholders, in terms of assets, revenues, liabilities and expenditures (Wahlen, Bradshaw, Baginski & Stickney, 2010). Secondly, the three financial records serve to indicate what the organization has spent to gain the property and finances it owns (USEC, 2007). The three financial records have the expenditure and the revenue components, which measure the gains and the take-away that an organization has experienced in financial terms, within a specified period of time. The balance sheets, income statements and the cash flow statements have a debit side, in which they record the expenditures and the reductions to the assets of the organization in terms of the outgoing money. The costs associated with earning either the revenues or the assets that an organization owns are shown in terms of the costs and expenditures that the organization has incurred within a specified period of time. The bottom line of these fin ancial records is to show how much an organization has made within a period of time, and how much the organization has spent within the same duration, and thus give the overall conclusion regarding whether the transactions that were undertaken by the organization during the specified period either helped to make gains or loss (Sinha, 2007). The final conclusion of the three financial records is that they accumulate all the gainful transactions and records them in terms of the amounts of money they help bring in to the organization, while recording the other transactions that serves to take away money from the organization. The two types of transactions are then summed up, and their totals compared, to determine the implication of the transactions that an organization made throughout the period, whether they are gainful or they constitute a loss. However, there is a different set of relationship between the balance sheets and the cash flow statements on one hand, and the income state ments on the other. This relationship exists in the form of adjustments, where both the balance sheets and the cash flow statement are used to adjust the income statement, through introducing certain financial aspects, which cannot be directly categorized as direct incomes or expenditures (Penner, 2004). The income statement is purely applied to