Peer Pressure to Allegiance Essay Example For Students

Peer Pressure to Allegiance Essay Peer Pressure is defined as the influence exerted upon one by others of the same age, social group, etc. Allegiance is the obligation of a person to his or her state or government, fidelity to a person or principle; devotion. In Susan Glaspells A Jury of Her Peers, Martha Hales character attempts to persuade Mrs. Peters characters initial thinking. She does this through peer pressure. A Jury of Her Peers, is about a criminal act. Mrs. Wright is being held in the county jail for murder. John Wright, her husband, was found dead with a rope around his neck. Lewis Hale stopped by the Wrights home for help with his load of potatoes. He instead found John Wright dead. The story begins with Martha in her own kitchen. Mr. Hale has stopped by the house to pick Martha up. The Hales are joined by the sheriff, his wife, and the county prosecutor, Mr. Henderson. They are on their way to the Wright home. They are searching for a motive behind the murder of Mr. Wright. The Wright home is the setting for the story. The sheriffs second wife, Mrs. Peters was the only other woman among the group. She is not your typical sheriffs wife. She is quiet and petite. She does not possess a strong authoritative voice like Mrs. Hale. At the Wright house, the three men Mr. Hale, Mr. Henderson, and the sheriff venture upstairs to search for a motive. Mrs. Hale, the dominant woman in this story, strikes up a conversation with Mrs. Peters. It begins with Mrs. Hale displaying her dislike of the men snooping around the house. Mrs. Peters does not agree with Martha. She views the men not as snooping, but as investigating. They are doing their duty says Mrs. Peters. Her loyalty sides with her husband. The women are gathering Mr. Wrights things when Martha begins to tell stories of Minnie Foster. Minnie Foster is the name of Mrs. Wright before she was married to John. Martha explains how she wore pretty clothes and used to be lively. Martha is building a foundation to persuade Mrs. Peters opinion of Mrs. Wright. Mrs. Peters believes that Mrs. Wright murdered Mr. Wright, which is true, but she does not know all the circumstances surrounding the Harris 2 situation. Martha asks her if she thought Mrs. Wright murdered John Wright. Mrs. Peters did not give her honest opinion. She said, Oh I dont know (173). She feels intimidating peer pressure from Martha. She does stand up to her. Martha says, it seems kind of sneaking: locking her up in town and coming out here to get her own house to turn against her (173). Mrs. Peters replies, But, Mrs. Hale the law is the law (173). Martha gives a short sarcastic reply, the law is the law and a bad stove is a bad stove (173). Mrs. Peters feels the peer pressure from Martha. Martha has a feeling that Mrs. Wright may have killed her husband but Martha wants to know which side Mrs. Peters is loyal to. Is her allegiance to the farm women in this community or to the law? They are still gathering Mrs. Wrights clothes when they stumble across a clue; a damaged birdcage. The birdcage is empty. Martha explains Mrs. Wrights love for her pet canary. They are gathering one of Mrs. Wrights quilts when they stumble across a beautiful sewing box. The beautiful sewing box contains Mrs. Wrights pet canary. The canarys neck is broken. At this moment, they know Mrs. Wright killed her husband. They are aware of the importance of the pet canary to Mrs. Wright. .u2b8561e3dacbf4c645a269909ae4bae1 , .u2b8561e3dacbf4c645a269909ae4bae1 .postImageUrl , .u2b8561e3dacbf4c645a269909ae4bae1 .centered-text-area { min-height: 80px; position: relative; } .u2b8561e3dacbf4c645a269909ae4bae1 , .u2b8561e3dacbf4c645a269909ae4bae1:hover , .u2b8561e3dacbf4c645a269909ae4bae1:visited , .u2b8561e3dacbf4c645a269909ae4bae1:active { border:0!important; } .u2b8561e3dacbf4c645a269909ae4bae1 .clearfix:after { content: ""; display: table; clear: both; } .u2b8561e3dacbf4c645a269909ae4bae1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2b8561e3dacbf4c645a269909ae4bae1:active , .u2b8561e3dacbf4c645a269909ae4bae1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2b8561e3dacbf4c645a269909ae4bae1 .centered-text-area { width: 100%; position: relative ; } .u2b8561e3dacbf4c645a269909ae4bae1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2b8561e3dacbf4c645a269909ae4bae1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2b8561e3dacbf4c645a269909ae4bae1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2b8561e3dacbf4c645a269909ae4bae1:hover .ctaButton { background-color: #34495E!important; } .u2b8561e3dacbf4c645a269909ae4bae1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2b8561e3dacbf4c645a269909ae4bae1 .u2b8561e3dacbf4c645a269909ae4bae1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2b8561e3dacbf4c645a269909ae4bae1:after { content: ""; display: block; clear: both; } READ: A Summers Love Essay As they put the clues together, the men start down the stairs. This is it! Mrs. Peters must decide her allegiance. Would the quiet and petite Mrs. Peters swear allegiance to the women and protect Mrs. Wright? Or would she reveal to the men, the clues, which they stumbled across and could use against Mrs. Wright? Mrs. Peters grabs the box and attempts to stuff the sewing box in her handbag. She sides with the women. The peer pressure .

Pro Athletes Salaries Essay Example For Students

Pro Athletes Salaries Essay Here is an example of a Professional Athletes Salary. Kevin Garnett is a 21 year old Basketball player who had taken the A.C.T test three times in High School, failing all three times and had also taken the S.A.T Test once and failed. Kevin decided that he would not go to a collage even though he was the highly recruited #1 basketball player in the nation, and could have had a scholarship to any collage he wanted. So his decision took him to the NBA draft, where he was selected in the first round to the Minnesota Timberwolves.The Timberwolves signed him to a 6 year $125 Million dollar contract to play for them. (Tom Lenard-Opinion columist)Every year we hear of some new name, some new player in the sports news getting a new record contract which sets a much higher mark and blows away the high from the year before. So we ask whos fault is this that theses men and women are getting paid more and more? Most fingers point our way, the peoples way, the fans way. We are the ones that go to these sporting events pay $50 dollars for a ticket, pay a $100 dollars for a jacket, and $20 dollars for a cap of our favorite teams. We are the ones who support these teams and the players. The reason ticket prices keep going up is because money is needed to pay all of our great players. It doesnt help that they know that we will pay these ticket prices no matter how ridiculous they start charging. Michael Jordan makes 33 million a year plus another 40 million in endorsements. Just because our favorite Athlete wears this brand of underwear and our favorite Athlete eats this brand of a hot dog, should we? Should go out and pay these outrageous prices just for an ordinary product? Mr. Jordan makes $170 Thousand dollars a day!(ESPN.com no page) Considering our President of the United States of America only makes $250 Thousand dollars a year , whats does this tell you about our Country that we think that a person that plays a game for a living should be making more than the person that makes some major decisions concerning America?When players get paid this much it puts more pressure on them to perform. When players are not making so much, they are actually working for money , but when they sign a new Million-dollar contract Underachieving Millionaires (Gary Horton-ESPN.com no page). A big payday is a good thing for the person and his family, but might not always be good for the lo cker room and the Organization writing the checks. When you see a million dollar Running Back and a hundred thousand dollar lead blocker you can see where the problems start.They players will start playing worse if they are unsatisfied with their current contract and the guy who plays with makes way more than you they start thinking about how much their worth. Professional Athletes are making too much money in a society thats salaries and wages are traditionally based on the values of ones work(Jon Shepard-ESPN.com)Professional Athletes are constantly getting in trouble with the law.The players have all this money they are going to go out and spend it and have fun with it.You can turn to the Sports page and read about Rae Carrot a Wide Receiver for the Carolina Panthers in the NFL going to court for murdering his wife, Michael Irvin or Darryl Strawberry once again getting busted for possession of Cocaine and Marijuana or the crazed out lunatic Dennis Rodman kicking a cameraman in th e groin.Whethar its Drug violation or Sexual Assault, it seems that the money is making these players behave badly . If we pay these players millions of dollars to entertain us, then it would be great if the could stay out of jail long enough so that the us the fans can see them play, but most of them end up getting out of prison and found not guilty of the crime because of who they are how much they are worth and how powerful they are. Professional athletes are getting paid millions for just games that are supposed to be fun I mean come on we all play and played them when we were kids and we enjoyed it for the fun of the game and the fun of the sport and the fun we had with the people we played them with. .u07ab1cd29f4b1e70eb8174390caca94c , .u07ab1cd29f4b1e70eb8174390caca94c .postImageUrl , .u07ab1cd29f4b1e70eb8174390caca94c .centered-text-area { min-height: 80px; position: relative; } .u07ab1cd29f4b1e70eb8174390caca94c , .u07ab1cd29f4b1e70eb8174390caca94c:hover , .u07ab1cd29f4b1e70eb8174390caca94c:visited , .u07ab1cd29f4b1e70eb8174390caca94c:active { border:0!important; } .u07ab1cd29f4b1e70eb8174390caca94c .clearfix:after { content: ""; display: table; clear: both; } .u07ab1cd29f4b1e70eb8174390caca94c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u07ab1cd29f4b1e70eb8174390caca94c:active , .u07ab1cd29f4b1e70eb8174390caca94c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u07ab1cd29f4b1e70eb8174390caca94c .centered-text-area { width: 100%; position: relative ; } .u07ab1cd29f4b1e70eb8174390caca94c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u07ab1cd29f4b1e70eb8174390caca94c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u07ab1cd29f4b1e70eb8174390caca94c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u07ab1cd29f4b1e70eb8174390caca94c:hover .ctaButton { background-color: #34495E!important; } .u07ab1cd29f4b1e70eb8174390caca94c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u07ab1cd29f4b1e70eb8174390caca94c .u07ab1cd29f4b1e70eb8174390caca94c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u07ab1cd29f4b1e70eb8174390caca94c:after { content: ""; display: block; clear: both; } READ: Evolution of Computers EssaySports and Games

Working Capital Management Essay Example

Working Capital Management Essay Introduction of study In the present competitive world, every firm, whether big, medium of small, needs working capital to carry on its operations and to achieve its targets. Proper management of working capital is an important role of firm’s life. Working capital is essential to maintain the smooth running of business. No business can run successfully without an adequate amount of working capital. Inadequacy of working capital may lead the firm to insolvency and excessive working capital implies idle funds, which earns no profits for business. Working capital management policies of a firm have a great effect on its profitability, liquidity and structural health of the firm. A well-designed and implemented working capital management is expected to contribute positively to creation of firm’s value profitability. A firm is required to maintain a balance between liquidity and profitability while conducting its day-to day operations. Liquidity is a pre condition to ensure that firms are able to meets its short-term obligations and its continued flow can be guaranteed from a profitable venture. The importance of cash as an indicator of continuing financial health should not be surprising in view of its crucial role with in the business. This requires that business must be run profitability. Profit maximization is generally considered important objective of a business. Profit is also used as a tool for evaluating the performance of management. Profitability directly influences the creation of surpluses. Therefore, Management of working capital is one of the most important aspects of firm’s profitability. We will write a custom essay sample on Working Capital Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Working Capital Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Working Capital Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Analyzing the financial statement of the firm helps to make proper decisions about the strengths and weakness of the firm’s operations. These statements are useful in analysis of the profitability of the company by analyzing each individual element to the total figure of the statement. The statements will also assist in analyzing the profitability of the years and with the figures of the competitive firm in the industry for making analysis of relative efficiency. In sri-lanka, selected all listed companies are divided as the sectors by Colombo stock exchange. Here researcher considers Impact of working capital management on profitability of the five firms in trading industry in listed companies and do research based on the five years data between the 2003-2007 1. 2. Research problem Research problem is focused in this research as follows. 1. Does the working capital management impact on profitability of trading firms in sri-lanka? 2 Are the current assets, current liabilities, working capital, current ratio, liquidity ratio, efficieny ratio of selected Trading firms near to the industry average? 1. 3. Objective of the study The focus of this study is Impact of working capital management on profitability of the trading industry in listed companies in srilanka . The basic objective of the study is. †¢ Assess the relationship between working capital and financial performance. Sub objectives are †¢ Identify the need and importance of working capital †¢ To analyze the financial position of trading firms 1. 4. Significance of the study This study will help to know how to impact on working capital on profitability of selected Trading firms. This study also helps to estimate the working capital decisions on the companies’ profitability. Therefore, to estimate profitability, financial, and effectiveness of firm and find out the weakness of the firm. This research will help to know profitability and compare with competitive firms. It is important to improve the competitiveness and liquidity of the trading sector in order to enhance its efficiency. As well as, this study will create the further research question for further investigation in future. The fast growing but large company also makes use of current liability financing. For these reasons, the financial manger and staff devote a considerable portion of their time to working capital matters. Thus, working capital management of selected trading firms is most important. 1. 5. Chapter outline Chapter one includes background of the study, research problem, objective, significance, chapter outline of the study The second chapter consists of the detailed literature survey of the study. Literature survey of the study describes concepts of working capital, need for working capital, operating cycle concept, permanent and variable working capital, factors determining working capital, excess and inadequate working capital, ratio analysis, overtrading The third chapter is allocated to discuss the methodology and conceptualization of the study in detail. That is research problem will be conceptualized based on the literature review. Hypotheses are formulated according to the conceptual model and literature review. Next operationlalization, data collection techniques and method of analyzing impact of working capital management on the profitability of trading firms. The fourth chapter presents survey data presentation, which gathered through secondary data from annual report published by trading firms. Then data analyses are made by correlation analysis, regression analysis. These data are presented by using tables. The fifth chapter will discuss the findings of the research based on the presented and analyzed data. The, hypothesis will be tested. Finally, it indicates conclusion and suggestion for further research. CHAPTER-02 LITERATURE REVIEW 2. 0 Introduction In this chapter, the discussion is focused up on the existing literature that describes what is already identified the concepts and theories about the research problem and already carried out the research findings about working capital management and financial performance. 2. 1 Review of theoretical concept 2. 1. 1 Meaning of working capital Every Business needs funds for two purposes- for its establishment and to carry out its day – to- day operations. Long – term funds are required to create production facilities through purchase of fixed assets such as plant and machinery etc. Funds are also needed for short – term purpose for the purchase of raw materials, payment of wages and other day – today expenses etc. These funds are known as working capital. In simple words, working capital refers to the part of the firm’s capital which is required for financing short term or current assets such as cash, marketable securities, debtors and inventories. In the words of shubin, â€Å"working capital is the amount of funds necessary to cover the cost of operating enterprise† According to Genestenberg, â€Å"circulating capital means current assets of a company that are changed in the ordinary course of business from one from to another, as for example, from cash to inventories, inventories to receivables, receivables into cash. † (Shashi K. Gupta, Neeti Gupta 2005P. 6. 1) 2. 1. 2 Concepts of Working capital Management The concept of working capital has been a matter of great controversy among the financial wizards. Different views on working capital can be classified into two groups, 1. Gross working capital According to this concept, working capital refers to the sum of all currents assets of the enterprise employed in business process. This is a going concern concept, since the financial manager is highly concerned with the management of assets with a 2. Net working capital This concept represents excess of current assets over current liabilities. It is also that portion of a firm’s current assets which is financed by long-term funds. Net working capital = current assets- current liabilities (I. M PANDY 1999 p807-808) 2. 1. 3 Kinds of working capital Working capital can be classified into two categories on the basis of time, 1. Permanent or Fixed working capital Permanent working capital represents current assets required on a continuous basis over the entire year. A manufacturing enterprise has to carry irreducible minimum amount of inventories necessary to ensure uninterrupted production and sales. Likewise, some amount of funds remain tied in receivable when the firm sells goods on credit items. Some amount of cash has also to be held by the firm so as to exploit business opportunities, meet operational requirements and to provide insurance against business fluctuations. Thus minimum amount of current assets which the firm has to hold for all time to come to carry an operation at any time is termed as permanent or regular working capital. Permanent working capital has the following characteristics. 2. Temporary or Variable working capital It represents the additional assets, which are required at different times during the operating year additional inventory, extra cash. It is temporarily invested in current assets and possesses the following characteristics. Y Temporary working capital Permanent working capital X Time Fig-1:-permanent and temporary working capital From fig-1, it is clear that the need for regular working capital remains the same for whole the year, where as variable working capital needs are some times high and some times low. In a going concern, the need for working capital goes on rising because of increase in the level of business activities. It is presented in figure-2 Y [pic]X Time Fig-2:-permanent and temporary working capital 2. 1. 4 Operating Cycle Funds, thus, invested in current assets keep revolving fast and are being constantly converted into cash and this cash flows out again in exchange for other current assets. Hence it is also known as revolving capital. The circular flow concept of working capital is based upon this operating or working capital cycle of a firm. The cycle starts with the purchase of raw material and other resources and ends with the realisation of cash from the sale of finished goods. It involves purchase of raw material , its conversion into stock of finished good through work-in-progress with progressive increasement of labour and service costs, conversion of finished stock into, debtors and receivables and ultimately realitisation of cash and this cycle continues again form cash to purchase of raw material and soon. The speed / time duration required to complete one cycle determines the requirements of working capital- longer the period of cycle, larger is the requirement of working capital. Operating cycle of manufacturing firm Source: I. M. PANDEY, 1999, P 810 2. . 5 Importance of operating cycle The application of operating cycle concept is mainly useful to ascertain the requirement of cash working capital to meet the operating expenses of a going concern. This concept is based on the continuity of the follow of values in a business operation. This value usually in a going concern. Centre, mainly around the operational activities of a business in any period. This is an importance concept because the longer the operating cycle, there more working capital funds the firms needs. The management must ensure that this cycle does not become too long. Thus oncept more precisely measures the working capital fund requirements, traces its changes and determinants the optimum level of working capital requirements. [TAXMANN 2003, P 654] 2. 1. 6 Factors determining the working capital requirements. The working capital requirements of a concern depend upon a large number of factors such as nature and size of business, the character of their operations, the length of production cycles, the rate of stock turnover and state of economic situation,. It is not possible to rank them because all such factors are of different importance and the influence of individual factors changes for a firm over time. However, the following are important factors generally influencing the working capital requirements. 1. Nature or Character of business. The working capital requirements of a firm basically depend upon the nature of its business. Public utility undertakings like electricity, water supply and railways need very limited working capital because the offer cash sales only and supply services, not products as such no funds are tied up in inventories and receivables. On the other hand, trading and financial firms require less investment in fixed assets but have to invest large amounts in current assets like inventories, receivables and cash. The manufacturing undertaking also requires sizable working capital along with fixed investments. 2. Size of business or Scale of operations The working capital requirements of a concern are directly influenced by the size of its business, which may be measured in terms of scale of operations. Greater the size of a business unit, generally larger will be the requirements of working capital. However, in some cases even a smaller concern may need more working capital due to high overhead charges, inefficient use of available resources and other economic disadvantage of mall size. 3. Production policy In certain industries, the demand is subject to wide fluctuations due to seasonal variations. The requirements of working capital, in such cases, depend upon the production policy. The production could be kept either steady by accumulating inventories during slack periods with a view to meet high demand during the peak season. If the policy is to keep production steady by accumulating inve ntories it will require higher working capital. 4. Manufacturing Process or Length of production Cycle. In manufacturing business, the requirements of working capital increase in direct proportion to length of manufacturing process. Longer the process period of manufacture, larger is the amount of working capital required. The longer the manufacturing time, the raw materials and other supplies have to be carried for a longer period in the process with progressive increment of labour and services cots before the finished product is finally obtained. Therefore, if there are alternative processes of production, the process with the shortest production period should be chosen. . Working capital Cycle. In a manufacturing concern, the working capital cycle starts with the purchase of raw material and ends with the realization of cash from the sale of finished products. This cycle involves purchase of raw material and stores, its conversion into stocks of finished goods through work-in-progress with progressive increment of labour and service costs, conversion of finished stock into sales, de btors and receivables and ultimately realization of cash and this cycle continues again from cash to purchase of raw material and so on. 6. Credit policy The credit policy of a concern in its dealings with debtors and creditors influence considerably the requirements of working capital. A concern that purchases its requirements on credit and sells its products or services on cash requires lesser amount of working capital. On the other hand a concern buying its requirements for cash and allowing credit to its customers, shall need larger amount of working capital as very huge amount of funds are bound to be tied up in debtors. 7. Rate of growth of business. The working capital requirements of a concern increase with the growth and expansion of its business activities. Although, it is difficult to determine the relationship between the growth in the volume business and the growth in the working capital of a business, yet it may be concluded that for normal rate of expansion in the volume of business, We may have retained profits to provide for more working capital but in fast growing concerns, We shall require larger amount of working capital. 8. Earning capacity and Dividend policy. Some firms have more earning capacity than others due to quality of their products, Monopoly conditions etc. Such firms with high earning capacity may generate cash profits from operations and contribute to their working capital. The dividend policy of a concern also influences the requirements of its working capital. A firm that maintains a steady high rate of cash dividend irrespective of its generation of profits needs more working capital than the firm that retains larger part of its profits and does not pay so high rate of cash dividend. 9. Price Level Changes. Changes in the price level also affect the working capital requirements. Generally, the rising prices will require the firm to maintain larger amount of working capital as more funds will be required to maintain the same current assets. The effect of rising prices may be different for different firms. Some firms may be affected much while some others may not be affected at all by the rise in prices. 10. Other factor. Certain other factors such as operating efficiency management ability, irregularities of supply, import policy, asset structure, importance of labour, banking facilities, etc also influence the requirements of working capital. . 1. 7 Excess and inadequate working capital Business should maintain sound position of working capital. The amount of working capital should neither be too excessive, nor too much inadequate. The working capital in excess of the requirement will reduce profitability as the funds will remain unutilized. Controrily, if the amount of working capital is less that what it is required, the production process may be hampered. It will reduce the sales and consequently the profitability of the business will be adversely affected. 2. 1. 8 Management of working capital Management of working capital therefore, is concerned with the problems that arise in attempting to manage the current assets, the current liabilities and the inter- relationship that exists between them. In other words it refers to all aspects of administration of both current assets and current liabilities . Working capital management (WCM) is the management of short-term financing requirements of a firm. This includes maintaining optimum balance of working capital components – receivables, inventory and payables – and using the cash efficiently for day-to-day operations. Optimization of working capital balance means minimizing the working capital requirements and realizing maximum possible revenues. Efficient WCM increases firms’ free cash flow, which in turn increases the firms’ growth opportunities and return to shareholders. Even though firms traditionally are focused on long term capital budgeting and capital structure, the recent trend is that many companies across different industries focus on WCM efficiency. The basic goal of working capital management is to manage the current assets and current liabilities of a firm in such a way that a satisfactory level of working capital is maintained. Working capital management policies of a firm have a great effect on its profitability, liquidity and structural health of the organization. In this context, working capital management is three dimensional in nature: (1) Dimension I is concerned with the formulation of policies with regard to profitability, risk and liquidity. (2) Dimension II is concerned with the decisions about the composition and level of current assets. (3) Dimension III is concerned with the decision about the composition and level of current liabilities. (Shashi K. Gupta, Neeti Gupta 2005 P. 6. 12) 2. 1. 9 Previous research findings on working capital Management. The study of Grablowsky [1976] and others showed a significant relationship between various success measures and the employment of formal working capital policies and procedures. Walker and Petty [1978], Deakins et al [2001] said that managing cash flow and conversion cycle is a critical component of overall financial management for all firms, especially those who are capital contrained and more reliant on short term sources of finance. Carpenter and Johnson [1983] provided that there is no linear relationship between the level of current assets and revenue systematic risk of US firms. Pinches 1991, Brigham and Ehrhardt 2004, Moyer et. al. 2005, Gitman2005). Said that , there is a long debate on the risk/return tradeoff between different working capital policies. For the first time, Soenen [1993] indicated that a negative correlation between the length of net trade cycle and return on assets. Lamberson [1995] said that the most of the financial managers’ time and efforts are allocated in optimizing the level of current assets and current liabilities back towards optimal levels. Jarvis et al [1996] concluded that the success of a firm depends ultimately, on its ability to generate cash receipts in excess of disbursements. The cash flow problems of many small businesses are exacerbated by poor financial management and in particular the lack of planning cash requirements. Pandy I M Perera K L W [1997] suggested that The managing director plays a major role in formulating formal or informal policy. Company size has an influence on the overall working capital policy (formal or informal) and approach (conservative, moderate or aggressive) Finance manager is the responsible for managing working and review period. capital components. Stretching of credit payment and ageing schedule are the primary tools of managing disbursement float and controlling debtors respectively. Material requirement planning (MRP) and perpetual inventory control (PIC) system are key techniques of inventory management. Company profitability and working capital policy influence the payable management and working capital finance respectively. Most of the companies take cash discounts, but their annual cost of working capital funds is high that ranges between Current and cash budget are major techniques of working capital, 15-20%. planning and control. Company profitability has an influence on the methods of working capital planning and control. Companies sometimes consider working capital changes when they evaluate capital budgeting. Most of the companies in this study use bank interest rate as a hurdle rate for evaluating the working a comparison of the working capital practices of the Sri Capital changes. Lankan companies with the USA companies reveals a lot for similarities. The basic difference is in terms of the use of computerized system and the opportunity to invest surplus cash in the money market instruments. Herbert J. Weinraub and Sue Visscher [1998] found that there is a high and significant negative correlation between industry asset and liability policies. Relatively aggressive working capital asset management seems balanced by relatively conservative working capital financial management. The study undertaken by Peel et al [2000] revealed that small firms tend to have a relatively high proportion of current assets, less liquidity, exhibit volatite cash flows, and a high reliance on short-term debt. Jain and Kumar (1999) examined and compared that current liability management practices of select companies in India and South-East Asia. Accounts payable, and short-term loans and advances, were found to be the two major ingredients of total current liabilities. Further, the majority of the sample companies in India and SEA indicated that suppliers offered cash discount facility for prompt payment. Most of the sample companies from India, Singapore and Malaysia did not seem to use any ‘manual’ for working capital management The length of operating cycle had been stated as the basis of working capital determination in India, while, percentage of budgeted production/sales had been ranked as the primary basis in Singapore and Malaysia for that purpose. They also revealed that the majority of the sample companies in India, Singapore and Malaysia had experienced occasional shortage as well as surplus of working capital. Jain and Yadav (2000) conducted an empirical study on the comparative current assets management practices of corporate enterprises in India, Singapore and Thailand. It was found that the vast majority of the sample companies in India as well as Singapore and Thailand had singled out bank overdraft/cash credit as the major source of dealing with cash deficit situations. The survey also found the multiple ways in which surplus cash was used by the corporate firms from the sample countries. Indian corporate firms followed the practice of deploying excess cash primarily by investing in short-term marketable securities, retiring short-term debt and making deposits with bank for short period. Whereas, deposit with bank and retiring short-term debts were the preferred outlets for Singapore corporate enterprises and Thai firms. Most of the corporate firms in India generally offered cash discount facility to debtors, while their counterparts from Singapore and Thailand (all) did not follow the policy of offering discount to their debtors. Two-thirds of corporate firms in India charged penal interest on overdues, whereas majority of the firms both in Singapore and Thailand did not charge any penal interest on overdue accounts. William Muffee Visemith [2001] said that Cameroon Development Corporation (CDC) is a very large corporation and working capital problems are very likely The study found that CDC has acute working capital problems resulting in losses These problems stem from poor working capital management approaches employed over the years. Every organization must seek a point of balance in its working capital in order to avoid a loss-making situation. Dr. Santanu Kr. Ghosh, Santi Gopal Maji [2002] indicated that the Indian Cement Industry as a whole did not perform remarkably well during this period Filbeck and Krueger [2005] highlighted that the importance of efficient working capital management by analyzing the working capital policies of financial industries in USA. According to their findings, working capital practices were significantly different overtime within the industries. Similar studies are conducted by Gombola and Ketz [1983] Soenen [1993] Max well et al [1998] and Long et al[1993]. Filbeck and Krueger [2005] said that business success heavily depends on the ability of financial executives to effectively manage receivables, inventory and payables. Md. Sayaduzzaman [2006] found that The efficiency of working capital management of British American Tobacco Bangladesh CompanyLtd. is highly satisfactory due to the positive cash in flows, planned approach in managing the major elements of working capital. Applications of multi-dimensional models of current assets mix may have positive impact on the continuous growth development of this multinational enterprise. This depends on co-operation of the stakeholders and business environment in the context of globalization. Appuhami, B A Ranjith [2008] found that firms capital expenditure has a significant impact on working capital management. The study also found that the firms operating cash flow, which was recognized as a control variable, has a significant relationship with working capital management. CFO Research Services (a unit of CFO Publishing Corp. ) launched a research program to explore working capital management among midsize and large U. S. companies. [2008] Through a survey and interview program, They sought to understand the relative importance of working capital management, the barriers companies face when they try to improve working capital management, and the steps they take to do so. Pradeep Singh [2008] found that the size of inventory directly affects working capital and its management. Size of the inventory and working capital of Indian Farmers Fertilizer Cooperative Limited (IFFCO) is properly managed and controlled compared to National Fertilizer Ltd. (NFL). Anita Agrawal, S. C. Bansal,[ ] showed that for some of the policy issues of WC, IC and their JV/WOS follow the same practices, while for some of the aspects they have different experiences. Indian firms and their overseas units have same opinion regarding objectives, concepts, frequency of revision of WC policy, determination, experience of shortage of WC and its consequences, reasons of excess WC and impact of environmental factors on WCM. It has been observed that on the whole the basic concepts of WCM remain same irrespective of the location of the firm, however, some differences appear due to distinct size, environment and goodwill of overseas ventures in their respective markets that makes the WCM of these units more complex. Michael J. Peel Nicholas Wilson [ ] indicated that a relatively high proportion of small firms in the sample claimed to use quantitative capital budgeting and working capital techniques and to review various aspects of their companies working capital. In addition, the firms which claimed to use the more sophisticated discounted cash flow capital budgeting techniques, or which had been active in terms of reducing stock levels or the debtors credit period, on average tended to be more active in respect of working capital management practices. 2. 2 financial performances The financial condition of a business organization of a business organization would depend on the resources it owns and the obligations it has to meets. Companies carry out various activities to make profits, and to generate wealth for further growth. Finance is considered as the most important for these activities. The actions of managers have financial consequences for the business firm. Therefore it is imperative that they know the importance of finance functions and their linkage with their own activities. (I. M. pandey, 1997) Hence financial position or condition of the firm should be assessed and future position of the companies should predict. To make the business activities in order to make profit, it would be necessary to keep the financial position favorably. Hence the present study is initiated to predict the financial position of the firms and to find out the linkage between financial position and profitability. Financial statements provide information about the financial positions of an enterprise that is useful to a wide range of users in making economic decisions. (chartered institution,1997) Evaluating the financial performance of the firm, in particular is profitability is required in order to potential changes in the economic resources that it is likely to control in the future. In formation contained in financial statements is organized to enable users of the financial statements to draw conclusions concerning the financial well-being and performance of the reporting entity. In about performance is useful in predicting the capacity of the enterprise to generate cash flows its existing resource base. Information contained in the statement is used by management, creditors, investors and others to form judgment about the operating financial performance and financial position of the firm. Management should be particularly interested in knowing the financial strengths of the firm to make their best performance and to be able to spot out the financial weakness. Each organization should therefore be in position of to repay the debts. In this way financial ratios are useful for assessing the financ

Word Games to Improve Your Writing

Word Games to Improve Your Writing Word Games to Improve Your Writing Word Games to Improve Your Writing By Ali Hale It’s hard work to increase your vocabulary by memorising long lists of words and definitions, or to improve your spelling by constantly writing out words you get wrong. Why not try playing some word-based games instead? If you have kids, these are great ways to help them with their writing skills whilst having fun! Scrabble A hugely popular board game (and even available on Facebook), Scrabble involves creating words from â€Å"tiles†, each with a letter on. You need two to four players, each of whom starts the game with seven tiles. The first player must make a full word from the tiles in their hand. After that, each person must create a word that overlaps one already on the board – a bit like words on a crossword puzzle. You can create more than one word by cunning positioning of your tiles, but the tiles you put down on the board must go in a straight line forming one main word. Each word gets a score based on the letters used, After you’ve played, you take more letters from the tile bag, until it’s eventually empty. Scrabble is great for building up your vocabulary – though you may want to introduce a â€Å"house rule† that everyone should be able to use the word they’ve played in a sentence. Certain members of my family have a â€Å"crib sheet† of two-letter words like â€Å"el† and â€Å"ny† (you can get a list of official two-letter words here). Scrabble is also a good game to help you with spelling; there’s nothing worse than playing what you think is a killer move only to be told you’ve spelt the word wrong. There are some variants of Scrabble such as Upwords, a 3D version (you can stack the letter tiles on top of one another). Crosswords In the UK, almost every daily newspaper has a crossword. Some are easy and some are fiendishly hard! A crossword is a series of white squares, each representing a letter, which overlap. The words can go â€Å"down† or â€Å"across†, and each word has a number corresponding to a clue. Once you’ve solved a clue, you can fill in that word. For practising your spelling and vocabulary, you’ll probably want to avoid â€Å"cryptic† crosswords (where the clue only relates obliquely to the answer – for example, you might have to form an anagram from words in the clue to find the answer). Some crosswords also rely on a high level of literary or historical knowledge. You might want to start by trying some crosswords available online. A fun variant on the crossword is to start with a completed one and then make up the clues – this could be a great game to play with kids or friends to think up some unusual definitions of words. Hangman A popular pen-and-paper game, Hangman can help with spelling, vocabulary and recognising letter patterns. It’s most suited to kids or people who are still learning English. You need two players. One, the ‘Hangman’ thinks up a word and writes down a series of dashes on a piece of paper, each dash representing one letter. So a five letter word would look like this: __ __ __ __ __ The other player must guess letters, one at a time. If the letter appears in the word, the Hangman writes that letter over the appropriate dash. If the letter doesn’t appear, the Hangman writes it in a corner of the paper, and draws the next section of the scaffold to ‘hang’ the other player. The aim for the Hangman is to pick a word which the other player won’t guess before the scaffold is complete. The aim for the player is to guess the word before being ‘hanged’! There are full instructions at Wikipedias Hangman page. You can play an online version of Hangman designed for students of English as a Foreign Language at English Banana. Consequences To play consequences, you’ll need at least three people (the more the better), and a sheet of paper per person. It’s a great game for parties – whether young or old – and would be a good ice-breaker for a writers’ workshop. The game goes like this: Each player writes down a man’s name – it’s funniest if it’s someone the group knows, maybe a political figure – folds the top of the paper over to hide it, and passes it on. Everyone writes down â€Å"met† and a woman’s name – again, try picking a famous person – folds the paper again, and passes it on. This time, write â€Å"at† or â€Å"in† and the place where they met. Next, write â€Å"He said†¦Ã¢â‚¬  and a line of dialogue. (Fold, pass it on†¦) Now, write â€Å"She said†¦Ã¢â‚¬  and a line of dialogue. (Fold, pass it on†¦) Finally, write the consequence, eg. â€Å"And they lived happily ever after† – but be more imaginative than that! Pass the papers on one more time. Everyone unfolds their paper, and takes it in turn to read out the mini story. This always leads to some funny stories, and if you’re playing it with your kids, you might want to use â€Å"teachers’ names† or â€Å"cartoon characters†. It’s a great way to introduce story telling techniques to children, or to come up with some off-the-wall ideas with a group of adults. It might also help you with dialogue skills or comic writing techniques. Do you have a favourite writing game? Has it helped you to improve your English – or helped your kids with their spelling? Or do you just play for fun? Let us know in the comments †¦ Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the General category, check our popular posts, or choose a related post below:Farther vs. Further50 Nautical Terms in General UsePredicate Complements

A Study Of A Caucasian Preschool Student

however, they spell Cherokee as Tsalagi. Tsalagi was an Iroquoian language invented by a Native American Scholar. Moreover, a scholar named Lizette Peter published a scholarly journal article called â€Å"Our Beloved Cherokee: A Naturalistic Study of Cherokee Preschool Language Immersion.† In this article, she mentioned how and why the Cherokee language speakers have decreased over the years. â€Å"Since sustained contact with the British in about 1700, Cherokee people have struggled with social, political†¦ dieting to technology to study habits. The following literature review will take a look at four surveys that were taken place on college campuses to see what is needed to properly collect data. In spring of 2009 between April and May, The Project Information Literary team decided put out a survey to further understand the usage of Wikipedia among college students and here is how they did it. First they had to create the question on the survey. They did this by creating an 11 student focus groups across†¦ David S. Kreiner. â€Å"Student Perceptions of Study Time.† Psi Chi Journal of Psychological Research 19.1 (2014). Google Scholar. Web. 15 Nov. 2015. The first part of the research focuses on the difference between perceived study time and actual study time as well as how this affects students’ progress. A few interesting hypotheses were brought up in the research. Basically, they state that students overestimate the time needed to complete arbitrary academic tasks and that students, who practice time†¦ read to your child. What are your personal biases? (if you feel uncomfortable mentioning a few, just let me know by stating that) †¢ I would say before reading this book that I had similar biases that were stated in the book. That young non-Caucasian students struggle greatly in school. This book helped me realize and see how important my teaching and other teachers teaching really is! †¢ Last year, when I got stuck in Freshman Seminar as a 24-year old and already college graduate, I definitely†¦ Data This research study takes place in a private preschool that is located in the middle of a semi-rural area. The town that the preschool resides is home to less than three thousand residents (By Type, 2016). In the county the school is placed in, there are just under three-hundred thousand residents (By Type, 2016). Of all whom reside in the county, there are over one-hundred thousand unemployed persons, and less than twelve-hundred students are enrolled in a private preschool (By Type, 2016). The†¦ are two different groups of participants in the study who were chosen for the study arbitrarily. The goal of the study was to find the best way to help students learn better. The researcher chose to use quizzes that were given on a weekly basis. Since the quizzes are only a very small part of the students ' final grade, it is more logical to conclude that the investigator would use the exams that were given to the students as a better measure of student learning than their marks on the weekly quizzes†¦ As an international student study abroad, everyone will face lots of challenges when we came to the United States. We should overcome the language problem, loneliness, suit for the local food and etc. Now I have been the United States near two years, and I am going to give some suggestions for freshman to solve these challenges. The language challenge is the most common problem, it include daily talking and academic language. It was really hard for me when I arrived the United States, I cannot†¦ of the Social Studies class. This will be done by a more creative, pro-active, attentive, participating matter. Teacher should be able to observe the difference of students participating, successfully identifying amendments within the first 10 and comparing/contrast each. They will assist making sure students is on task, and actively socializing among peers. This is called terminal performance objective. Basically is describing what the target goals and intentions of what students have learned toward†¦ How Should Students Study? Learning is a challenging process and learning habits have always been an intriguing topic for researchers, but this topic is the greatest concern to us, the students. Students learn a variety of things in a limited time, and they would benefit from the so-called learning strategies. It appears that how information is presented not only changes what we have learned but also affects how well we have acquired it. Thus, I am going to talk about two learning strategies – the†¦ Measurement of this performance will be ascertained by separating students into two diverse classrooms. This study will examine the effects of child-directed play, teacher-directed play, and strenuous physical activity on the achievement of preschool students. For the first test, Classroom A will remain as a control group and receive a standard lesson with no activity. Classroom B will receive this same lesson after a period of child-directed play. A second lesson will be taught, but the control†¦

Critical evaluation of our times Essay Example | Topics and Well Written Essays - 1500 words

Critical evaluation of our times - Essay Example The history of terrorism dates back to between 10th and 14th century in Syria and Iran. It originated from the Hashhashin, whose English word came to be known as ‘assassins’. They were an unknown Islamic group that killed the Abbasid and Seljuk who were political figures. They cannot be compared with the modern day terrorists due to their failure to use the media and other forms of communication to create a sense of terror to the people. Modern terrorism is experienced virtually everywhere in the world unlike the assassins of Syria and Iran who were only confined to those two countries (Jeroen et al 20). The history of modern terrorism dates back to 1793 during the Reign of Terror as initiated by Maxmilien Robespierre, who was one of the heads of the new state during the French revolution. He killed the enemies of revolution and mounted totalitarianism in order to regain national stability. To him, his methods were just in the monarchical transformation to liberal democracy. He said that for one to be right as a founder of the republic, he or she needs to pacify by terror the opponents of freedom. With his sentiments, the foundation for modern terror was laid to teach that violence will lead to a better system. But the featuring of terrorism as a state action faded, whereas the thought of terror as an attack against the prevailing political order eventually was more noticeable (Schmalleger, 109). At the start of 1950s, there was the emergence of non-state terrorism that entailed the rise of guerilla tactics that was being orchestrated by the non-state actors. This had been widely done in the last half of the 20th century. The thriving of tribal nationalism such as the Zionist; the anti-colonial utterances in France and Britain as well as the ideologies like communism were some of the guerrilla tactics (Fukuyama, 45). In clear terms, the terrorist groups of the 20th century with a one united national goal started forming in

The creation of the ICC has been controversial for both legal and Essay

The creation of the ICC has been controversial for both legal and ethical reasons. Explain how the ICC works and why it is controversial - Essay Example hough the ICC, which was established in 2003, seems to have genuine interest to seek justice for crime victims, it has not been devoid of legal and ethical controversy. For instance, since its establishment until now the ICC has only opened cases on African member nations. This has prompted many African organizations like the African Union (AU) to question the legitimacy of the ICC as an international platform for justice. The legality of the ICC has also been brought to question, owing to the lack of comprehensive evidence collection and procedural concerns. In 2004 the then ICC prosecutor Luis Moreno Ocampo issued an arrest warrant for Sudan’s President, Omar al Bashir, for war crimes, genocide, and crimes against humanity. The prosecutor, however, failed to consider facts such as the commencement of the civil conflict in the country long before the president came into power. The prosecutor also ascribed land grabbing and ethnic cleansing solely to Bashir, failing to account for colonial land allocation disparities among peasant and nomadic communities. It was also not Bashir’s fault that climate change has resulted in expansion of arid areas hence reduction of productive land. In addition to these factual discrepancies that question the court’s ethics and legitimacy, the ICC has not focused on other countries. This has prompted many stakeholders to perceive it as a Western Court that seeks to judge African countries, without accounting for prior political and social concerns in respective