Problem based exercises on Law Case Study Example | Topics and Well Written Essays - 1500 words

Problem based exercises on Law - Case Study Example The letter stated that the offer was "exclusively" being made to the "members" of the yatch club against payment of $80,000. The letter also states that the first member to accept the offer will receive the yatch, hence according to the Sales of Goods Act 1979 Section 18 (3), in case of sales on approval, property passes when the buyer signifies his acceptance to the seller. 3. At 8 pm, Dandy, a club "visitor" rang Gemstone, Mrs Gemstone answered in the absence of her husband and Dandy proposed $90,000 for the yatch. Not being a "member" of the yatch club, Dandy does not fulfill the contract according to the Contract Law, since he has not been offered a deal to accept. However, it can be considered that Dandy is now making an offer for Gemstone to accept, but since Mrs Gemstone did not clearly state that she is accepting the offer (she only replied "My husband will be pleased. He asked me to receive any acceptances as he is away tonight. I suggestto arrange delivery") See Gibson v Manchester City Council 1979 1 AER 972, where using the word "suggest" merely illustrates final arrangements, but does not show that any stage the offer has been accepted. 4. Chuck posted his acceptance letter at 9 pm. ... I suggestto arrange delivery") See Gibson v Manchester City Council 1979 1 AER 972, where using the word "suggest" merely illustrates final arrangements, but does not show that any stage the offer has been accepted. 4. Chuck posted his acceptance letter at 9 pm. According to the Contract Law, an offer is acceptance at the time the letter is posted, irrespective of the time the letter reaches destination or even if it does not reach destination. see Byrne v Van Tienhoven (1880) 5 CPD 344 in which it is stated that an offer is accepted once it leaves the hands of the person. Since Chuck is a member of the club, and he is the first to accept Gemstone's offer, legally according to point 2 above, he is the righteous person to claim the yatch. 5. Slick, also being a club member sent his acceptance by mail at 9.30 pm, hence 30 minutes after Chuck. Thus the contract having already been formed being Chuck and Gemstone, Gemstone having clearly stated that the first member to accept will receive the yatch, Slick has no legal right to claim for the yatch. As we can see, Gemstone wants to deliver the yatch to Dandy. Considering all the above points, Chuck is now the righteous owner of the yatch legally. Slick cannot make any legal claim since he was not the first member to accept Gemstone's offer. So, legally, the yatch should be delivered to Chuck. However if Gemstone persists and delivers the yatch to Dandy, he will be making a major breach in the contact with Chuck, who can sue Gemstone immediately for damages. Question Two This case discusses about an "Oral" Contract, that is, one which is not a drafted formal contract between the two parties and where there exists neither evidence nor proof in writing and signed documents. Generally an oral

Celebrities And Human Obsessions Media Essay

Celebrities And Human Obsessions Media Essay Have you ever had favorite superstars as idols in mind that you dream to become just like them? The more we visualize ourselves as a celebrity, the more obsessions we have. We all enjoy hearing the latest celebrity gossip from time to time. Who doesnt enjoy hearing about the hottest celebrity wedding of the year or the worst celebrity makeover? What do you think about these topics on the news headlines? Jessica Lowndes wears a see-through dress. For Jakey, probably., Sparkles wants to start a family. Awà ¢Ã¢â€š ¬Ã‚ ¦, Pillow-fight! Hailee Steinfeld, etc play around in Vogue (The Gossip Wire). Media has been following a lot of celebrity actions and spread it in the public. The causes of having too much media attention towards celebrities could lead to negative effects of being bad examples for audiences, wasting peoples times, and interfering with celebritys privacy, and lead to positive effects of giving people an opportunity to be famous, providing benefits for media organizations, and being good examples for audiences. Have you ever wondered why people are so into celebrities? Have you ever thought of why it is that we spend our times studying celebrities bibliography and possibly their every action? According to Jake Halpern, the author of the book, Fame Junkies: The Hidden Truths Behind Americas Favorite Addiction. Kids see fame as a cure-all for problems, he said (Gilsdorf, The Christian Science Monitor). Secondly, it is because celebrities are always there wherever people go, on Television, newspaper, magazines on sidewalks, or even posters in restrooms. According to Star Struck New Internationalist, Celebrity worship syndrome (CWS) is an obsessive-addictive disorder in which a person becomes overly involved with the details of a celebritys personal life. Celebrities worship syndrome is consisted of three types. Entertainment-social is when people are attracted to their stars for entertainment, such as I like watching and hearing about my favorite celebrity when I am with a large group of peopl e. Intense-personal is when fans feel attracted to celebrities with an deep feeling or bonds themselves to stars such as When something bad happens to my favorite celebrity I feel like it happened to me , and borderline-pathological, which is when fans mix fantasies with realities and lead to an uncontrollable behavior such as I have frequent thoughts about my favorite celebrity, even when I dont want to (Maltby, 1157-1172). First of all, too much media attention on celebrities could give bad examples for audiences. Not all celebrities act and behave appropriately despite of them being observed by the media therefore it is then possible that celebrity fans, especially kids who do not have much life experiences would absorb and follow those inappropriate actions and behaviors. For instance, partying is one of the very well known lifestyle that celebrities have. Paris Hilton a very popular celebrity that almost everyone would notice the name, not only because of her works, but also because of her personality and social behavior. Apart from the partying lifestyle, celebrities are also easily exposed to drugs. Some use drugs to help them maintain their work efficiency, to gain fame, or even to stay in shape. Also, celebrities generally possess a great amount of financial resources to support their will just to purchase anything they would like. According to Daily Mail Reporter, Britney Spears spends  £11,000 monthly to stay in shape and look good, including the costs for nutrition, personal trainer, and a private dance choreographer (Daily Mail Reporter, Mail Online). Moreover, the incident when Michael Jackson committed suicide led to twelve deaths of his fans who died from committing suicide following their favorite star. According to The Sun News, one of Michael Jacksons fans named Pà ¡vel Talalà ¡yev was found and rescued from his attempt to commit suicide several hours after the news of Michael Jackson committing suicide broke out. One of the ambulance men said: He was in a terrible state and kept on saying: Its all the same to me. Im going to kill myself. Its the worst tragedy of my life and I dont want to live any more. I dont know why you saved my life, I want to be with him. (Soodin, The Sun) These inappropriate behaviors could then mislead her fans toward downward paths of living. Having celebrity worship syndrome could lead to unhealthy and unsteady mindsets. Celebrities are considered to live in a world that very few can hope to emulate. This then sometimes drives celebrity worshipping kids to feel like their own individual personalities are worthless because these kids could potentially form and develop unrealistic expectations in their minds about becoming a celebrity. Additionally, there are celebrities who became popular without using much of a specific requirement in recent days. However, these kids often realize the very unlikely possibility once they mature and finally cause them become to be lost and unhappy. Secondly, another negative effect is that people waste too much times once media gives out too much attention to celebrities. When media focuses too much on the celebrity headlines, people tend to overlook the important information needed in their lives. According to a new Rasmussen Reports national telephone survey, 87% of American Adults admit that Americans pay  too much attention to celebrity news and not enough attention to news that has real impact on their lives (Rasmussen, Rasmussen Reportsà ¢Ã¢â‚¬Å¾Ã‚ ¢). Imagine when the news paper headlines are filled with celebrity topic headlines and the news of stock market are put in a very small column of the newspaper that people hardly recognize. This has happened countless of times especially in newspaper, and it distracts people from the reality of their lives and causes their works to suffer. Elizabeth Farrar, a teacher from a primary school in Scunthorpe in the United Kingdom, said that too many pupils thought that they could become successful in the future by spending times trying to be famous and wealthy via media and that it would be unnecessary to have an academic success. They believe that they are much more likely to achieve financial well-being through celebrity than through progression to higher education and a proper career. (BBC News). Thirdly, keeping eyes on the celebrities is also interference to them. Everyone has the right to have secrets in their lives and keep in their minds, including celebrities. However, celebrities usually have to live their lives with public eyes targeting at them almost all the time. According to an interview with Jessica Biel on a question on how it is like to live in a public eyes Its wonderful to do what I do, but everything that goes with it? Its bizarre. She said, The invasion of privacy is very tough. I am followed all day, every day. Going to the dentist, the cleaners. I guess I could look like sh-t giong to the dentist, but only if I didnt care what I saw in the papers. ( OK! Magazine). Being celebrities would loose the time and opportunity to being herself because they all have to be concerned about how their appearances, choices of words and actions all the time because the media only focus on drawing their spectators and increase their revenue. In such competitive environmen t, celebrities normally would have to live with a lot of stress, and with an addition of paparazzi, press media, and all the public opinions which would become a workload of stress for these stars. Moreover, these media could also impact the celebrities by putting pressures on them to change themselves to be something that people would want to see. For example, Emma Watson, a very well known actor as Hermione in Harry Potter, said that stylists had been trying to put her in mini-skirts to make her look sexy. If I do a photo-shoot people desperately want to change me dye my hair blonder, pluck my eyebrows, give me a fringe. She said, Then theres the choice of clothes. I know everyone wants a picture of me in a mini-skirt. But thats not me. I feel uncomfortable. Id never go out in a mini-skirt. Its nothing to do with protecting the Hermione image. I wouldnt do that. (Sutrathada, The Celebrity Cafe). It can be seen that by putting too much attentions on celebrities could lead to many negative effects. However, sometimes these media sources could give out positive feedbacks to many in the society as well. Firstly, people could have more opportunity of becoming famous from media, rumors, and scandals. Many people try to or were put in a certain circumstance that creates rumors or stories throughout the media and allow them to eventually become well known in the public. For instance, Paris Hilton was originally known as a great-granddaughter of a billionaire Conrad Hilton, the founder of Hilton Hotel, one of the most famous hotels in the world. Then there was a sex tape of Paris Hilton, 1 Night in Paris pornography film released into the media in 2004. This sex tape was one of the top gossip topics of the year, but ended up boosting her fame to become one of the celebrity stars (Morgan, Associated Content). People with talents might also find the surging of media industry as an opportunity to become famous. With a modern technology in the current world, media has become so easily accessible for people including video channels on internet like Youtube and Myspace. Justin Drew Bieber, a v ery popular Canadian singer and actor have become one of the most well known celebrities by uploading his recorded singing performances on Youtube. His popularity on the site kept growing larger and larger until Scooter Braun, an American manager found Justins videos on the site (Dutta, Buzzle Web Portal). This then allowed Justin Bieber to get an opportunity to become a singer and eventually a very famous celebrity. It could be seen that people could become celebrities by using media as a tool that allows them to be well known and eventually a celebrity. Secondly, media organization could also gain benefits from mass producing media relating to celebrities. In yearly basis, media organizations that are based on celebrities, such as celebrity magazine industries could gain large amount of incomes from people. For instance, According to Marketwire in 2006 People Magazine had a circulation of 3.73 million and its revenue was expected to top $1.5 billion on that year (Marketwire). The more celebrity news spread throughout the world, the more money the media would be able to raise because many people have got a celebrity worship syndrome. Thirdly, the media could spread the messages of generous works that celebrities committed to the world as an example for people. Generally celebrities have always been seen as an ideal for people, especially teenagers and kids and set an example for them with their characteristics of being hard workers, diligent, and all good actions they committed like charity involvements. Media then becomes the source to provide these good deeds that celebrities commit throughout their careers via different channel communications; televisions, newspapers, magazines, and etc. This allows the good messages to be sent to an audience and therefore gives out positive effects to the society. For instance, Samuel Dalembert, currently a NBA basketball player of Sacramento Kings in the United States tried his best to give out and provide supports for his hometown Haiti from the chaotic incident that happened in January 2010. Look at me, Im living in a beautiful place. Im blessed to be doing this. But a par t of me said, You can help; you can do more,' he said. He has committed at least $2 millions to donate for Haiti, and since he is a famous basketball player in the United States (Tomasson, AOL News), his fames would provoke the media to take recognition, and automatically spread the news of his actions throughout the world via media, and that people can see his actions. Not only basketball players commit themselves to charity, super stars like Angelina Jolie and Brad Pitt also established their own charity organization named Jolie-Pitt Foundation. The Foundation was established in 2006, and the purpose of the organization is to aid people throughout the world. According to Look to the Stars, Jolie-Pitt Foundation has provided aids to people whose lives are in trouble, whether the cases of violences, armed conflict, health care, and many more in nearly 60 countries (Look to the Stars). These good deeds that the celebrities comitted are spread throughout the world through medias, and could  ­motivate people to follow them as examples to help the society. In conclusion, the impact media focusing too much attention on celebrities could have both negative and positive effects. Some audiences waste their times becoming addicted and obsessed with what media is trying to inform about their favorite celebrities, and some celebrities are facing hard time being threatened by media. On the other hand, some people can see an opportunity of becoming a celebrity by using the media, media can also gain some benefits from celebrities, and some celebrities are being a good example for the audiences. While some of their behaviors are not appropriate for audiences, personally I think that there is nothing wrong with consuming media, but all audiences have to be careful not to get too obsessed with them and consider what the media is trying to inform because part of it might contain inappropriate information. Therefore, I think it is crucial to be aware of the contents and messages that the media provides, follow the behaviors of the good celebrities, then learn and stay away from the inappropriate actions.

The Pearl :: Pearl

The Pearl Microsoft Encarta defines superstition to be an irrational but usually deep-seated belief in the magical effects of a particular action or ritual, especially in the likelihood that good or bad luck will result from performing it. Religion is defined as people's beliefs and opinions concerning the existence, nature, and worship of a deity or deities, and divine involvement in the universe and human life. In the first chapter, we find out that Juana does not know whether to trust her original polytheistic religion, or the newly introduced monotheistic religion (most likely Catholicism). "Under her breath Juana repeated an ancient magic to guard against such evil, and on top of that she muttered a Hail Mary between her clenched teeth."(4) This could have different meanings about what is, and what is not superstition, depending on your point of view. One who believes the native religion would believe strongly that the "ancient magic" would help Coyotito. The Catholic idea of just one god is ludicrous and irrational, which means that from this point of view, Catholicism is a superstition. A Catholic will believe that saying Hail Mary will help Coyotito, but it is not a good thing to pray to the other gods. In the Catholic religion, God is always testing your faith. Believing in two religions means that your faith is weak, so God might punish Juana's family. If the person viewing this is an atheist they will believe that there is no god or gods and will consider it irrelevant. That means they think that both the methods of prayer are mere superstitions, and doing one or both will have no positive or negative effect. The last point of view is Juana's. Juana is pretty sure that there is a higher power, but is not sure to trust her history, or this newly proposed god. She doesn't know what to choose, so she decides not to make a choice, and pray for both gods. She wants Coyotito to have the highest chances of surviving, so she prays to all gods.

How the war manifests within the films Essay

In her writing, Karen Randell develops an open outlook amongst the views of two films, â€Å"Night of the Living Dead† and â€Å"Deathdream†(Randell 67). These two zombie films dedicated a lot to the 1960s Vietnam war perspective on the dead and missing and how that issue wasn’t being addressed by war films during the time (Randell 67). Randell imposes how the war manifests within the films itself by providing a referentiality that is significant to the trauma of the war (Randell 68). This reference pertains to the how soldiers don’t return home and are considered â€Å"Lost bodies/Lost souls† (Randell 68). Controversial issues at the time were major (Randell 70-2). The late 1960s, early 1970s, was a period where the two films and the war met at its peak (Randell 72). Issues such as the â€Å"Vietnam syndrome† became a huge topic (Randell 72). This was a syndrome found in returning soldiers due to restlessness, depression, and rage (Randell 7 2). With the anti-war movement flowing in society, and all other impacts due to the war, the films expose real anxieties that were present during that period. (Randell 67). George Romero’s Night of the living dead, a prototypical zombie movie, gave great context into the mourning of the dead from Vietnam (Randell 68). The movie was made on a shoestring budget, shot on leftover film. (Randell 67-71). However, it greatly succeeded and is one of the most successful independent films of all time (Randell 71-2). The â€Å"Realm of the Undead† or â€Å"Zombie world† are both ways to classify the setting of this film (Randell 68). As characters are stuck in a surrounded zombie land, it sparks the horror that we see in any zombie movie today (Randell 70). The film resonates fear from the audience, being that the time period portrayed a high rate of soldiers who didn’t return home (Randell 69). Between 1968 and 1973 there were over 2500 American soldiers listed as MIA (missing in action) or POW (prisoners of war). There were also over 58,000 dead soldiers (Randell 67-9). It is very traumatic as a viewer to watch something like this si mply because it adds to the realism of the movie (Randell 68 -72). Even the language used in the film correlates with Vietnam. Night of the Living Dead refers to the mission of killing zombies as â€Å"Search and destroy†, which was a big Vietnam War military strategy (Randell 71). The film certainly establishes an uncomfortable presence for society (Randell 72). As we look at the film Deathdream, the message is very much explicit as opposed to the implicit message in Romero’s film (Randell 73). The main character â€Å"Andy† is a veteran who supposedly died in Vietnam and came back to haunt his family and the neighborhood as a zombie (Randell 73). Realism plays a tremendous role in this movie (Randell 72). 1972, when it released, was a period where news about returning veterans and the development of â€Å"Vietnam Syndrome† was huge (Randell 72). The movie just adds to it.(Randell 74). It essentially provides a display in which serves as â€Å"A dark satire of the shell-shocked veteran† (Randell 74). To conclude, Randell confirms thoughts on how the real issues in society can very truly be displayed even in today’s society through horror and fantasy (Randell 75).

The relationship between individuals mirrors the relationship between nations

In the light of this statement, M. Butterfly, a film about a French diplomat, Rene Gallimard, being seduced by the Chinese opera actor, Song Liling, who masqueraded as an Oriental ideal woman, evolves into a tale exposing the East-West misconceptions by using the intricacies of male-female relations. Relationship between eastern nations and western nations, and that among western nations, is mirrored by the two relationships between individuals respectively: the relationship between Rene Gallimard and Song Liling, and the relationship between Rene Gallimard and Lady Baden. Relationship between Eastern nations and Western nations is mirrored by the relationship between Rene Gallimard and Song Liling. Many after watching the film have asked, â€Å"how is it possible for Gallimard to be in love with a man for twenty years, and believe all the time that he is a woman? The answer to this question is Gallimard's misunderstanding of the East. The Western misconceptions of the East and the Western fantasies of protective masculinity towards the East can be seen from the relationship of Gallimard and Song. The misunderstanding of the West towards the East is foregrounded when Gallimard met Song after Song's performance of Madame Butterfly. Seeing Song on stage as Cio Cio San in Madame Butterfly, an Oriental woman who kills herself for the white man Pinkerton, Gallimard assumed that Song would be an equivalent of the submissive Oriental perfect woman. Gallimard's ignorance of the culture of the East is clearly seen as it is Chinese tradition that, in Peking opera, the female characters are played by men, which is also later pointed out by Song in the film. After the performance, Gallimard had a conversation with Song, in which the indifference of the West to distinguish the national and cultural tradition of the Eastern nations is shown. During the conversation, Gallimard said that Song was convincing to be Cio Cio San in Madame Butterfly. Song's reply signified that Gallimard has conflated China and Japan, † Convincing? Me as a Japanese woman? Read also Intro to Public Relations Notes Do you know the Japanese used thousands of our people for medical experiments during the war? But I gather such an irony is lost on you. † The Western fantasies of the Orients with submissive, obedient femininity is also reflected when Gallimard commented on the death of Cio Cio San in Puccini's play, â€Å"†¦ her death†¦ it's pure sacrifice. He's not worth it, but what could she do†¦ She loves him so much. It's very beautiful. † The West sees the East as stereotype, as western men desire the submission of the delicate, obedient Oriental women, which western women can never satisfy. When the relationship of Gallimard and Song further developed, Gallimard was blinded by his ignorance and misunderstanding towards the East. During the night when Gallimard visited Song after he has got promoted to vice-consul, Song said to Gallimard, † please let me keep my clothes on†¦ modesty is so important to the Chinese. † Gallimard believed it and respected Song's â€Å"modesty†, and he did towards the end of the relationship, which was also pointed out by Song, who has unmasked himself as a man in the court, â€Å"he was very responsive to my ancient Oriental ways of love, all of which are invented by myself, just for him. This reflected that the West believes that the East is exactly like the image in their own fantasies. The conflation of the China and Japan of the West is also disclosed at the end of the film, where Gallimard painted his face with pure white. In the Japanese theater, white is a symbol of ideal white complexion of the noble, while in the Chinese opera, white symbolizes treachery. This further highlighted the stereotyping of the East by the West, to conclude all Eastern nations as one single conventional â€Å"Orient†. The Western fantasy of protective masculinity is also mirrored by the relationship between Gallimard and Song. In the relationship of Gallimard and Song, Gallimard enjoyed discovering that he could treat Song with cavalier neglect, and this further strengthened his sense of masculinity, which is parallel with the Western belief of controlling the East, as they believe that the East, deep down, desire submission to the masculine West. Song has written in her letter to Gallimard that she has already given Gallimard her shame, and Gallimard used it against Song to force her to tell him that she is his butterfly. This is exactly an act of protective masculinity of male and at the same time that of the West. The West think that the East is inferior and need to be taught by the West, this is shown by the conversation of Song and Gallimard when they were at the Great Wall. Song asked Gallimard, â€Å"why did you pick a poor Chinese with a chest like a boy? † and Gallimard's answer showed his view of Song as an innocent Orient, â€Å"not a boy-like†¦ girl-like†¦ a young innocent school-girl†¦ waiting for her first lessons. † The Western superficial idea of slave and master is also shown between Gallimard and Song's dialogue after he had sexual intercourse with Lady Baden. Gallimard made use of the idea of slave and master, which he thought himself as master and Song as the slave, to force Song to remove her clothes for his will. The relationship among Western nations can also be mirrored by the relationship between Gallimard and Lady Baden. When Gallimard's relationship with Song is going on smoothly and his career has got a boost, Gallimard also had a rather short-term relationship with Lady Baden. This somehow showed that Gallimard has the ambition to conquer Lady Baden, who was described by the men in the party as â€Å"†¦ uilt like the Forbidden City. Everyone can look but no one gets inside. † This is a reflection of the ambition of the Western nations to conquer each other. Lady Baden, as a western woman, is portrayed as strong as the men, she was already naked when Gallimard hid himself in the bathroom, and this is again the idea of masculinity of the West. To conclude, the relationship between Gallimard and Song mirrors the misconceptions between the West and the East, while the relationship between Gallimard and Lady Baden shows the ambition among the Western nations.

Understanding Social Exchange Theory

Understanding Social Exchange Theory Social exchange theory is a model for interpreting society as a series of interactions between people that are based on estimates of rewards and punishments. According to this view, our interactions are determined by the rewards or punishments that we expect to receive from others, which we evaluate using a  cost-benefit analysis  model (whether consciously or subconsciously). Overview Central to the social exchange theory is the idea that an interaction that elicits approval from another person is more likely to be repeated than an interaction that elicits disapproval. We can thus predict whether a particular interaction will be repeated by calculating the degree of reward (approval) or punishment (disapproval) resulting from the interaction. If the reward for an interaction exceeds the punishment, then the interaction is likely to occur or continue. According to this theory, the formula for predicting the behavior of any individual in any situation is: Behavior (profits) Rewards of interaction – costs of interaction. Rewards can come in many forms: social recognition, money, gifts, and even subtle everyday gestures like a smile, nod, or pat on the back. Punishments also come in many forms, from extremes like public humiliation, beating, or execution, to subtle gestures like a raised eyebrow or a frown. While social exchange theory is found in economics and psychology, it was first developed by the sociologist George Homans, who wrote about it in an essay titled Social Behavior as Exchange. Later, sociologists Peter Blau and Richard Emerson further developed the theory. Example A simple example of social exchange theory can be seen in the interaction of asking someone out on a date. If the person says yes, you have gained a reward and are likely to repeat the interaction by asking that person out again, or by asking someone else out. On the other hand, if you ask someone out on a date and they reply, â€Å"No way!† then you have received a punishment that will probably cause you to shy away from repeating this type of interaction with the same person in the future. Basic Assumptions of Social Exchange Theory People who are involved in the interaction are rationally seeking to maximize their profits.Most gratification among humans comes from others.People have access to information about social, economic, and psychological aspects of their interactions that allow them to consider the alternative, more profitable situations relative to their present situation.People are goal oriented in a freely competitive system.The exchange operates within cultural norms.Social credit is preferred over social indebtedness.The more deprived the individual feels in terms of an act, the more the person will assign a value to it.People are rational and calculate the best possible means to compete in rewarding situations. The same is true of punishment avoidance situations. Critiques Many critique this theory for presuming that people always make rational decisions, and point out that this theoretical model fails to capture the power that emotions play in our daily lives and in our interactions with others. This theory also undercuts the power of social structures and forces, which unconsciously shape our perception of the world and our experiences within it, and play a strong role in shaping our interactions with others.

Catholic Mariology Essays - Marian Devotions, Free Essays

Catholic Mariology Essays - Marian Devotions, Free Essays Catholic Mariology an, who would give all of his followers something they had never had before; faith, and the ability to see others, love others, and talk to others. The basic lines of Catholic Mariology (theology of Mary) are now to talked about and to debated beyond dispute, written as they are in the Scriptures, in the liturgy, in prayer, poetry, song and art, in the writings of saints and theologians and in the teaching of popes and councils. Mary holds a secure place as the mother of Jesus, the greatest of all saints. Mary gives hope and faith to everyone on earth. She is full of love for others and full of love from God. Having conceived the Son of God in her womb by the story of immaculate conception, she remained a virgin throughout life. At the end of her life on earth she was taken to heaven and started a new life in the Lords house. What she did on earth when she was alive she continues to do in heaven. She is being a mother to all the children of earth This teaching, of Mary was made to be the belief of the church over many centuries of debate and dispute. Some popular devotions to Mary today would be celebrating the prayers and feasts that are made to give praise to Mary. Mary is the woman who brought Jesus into this world. She brought in a man who would change the world forever. It is only proper that we praise and worship her. Through prayers, feasts, church services, and the rosary, we can devote times of prayer to her, thanking her for the things she has accomplished throughout her life. A sincere devotion to the Sacred Hearts of Jesus And Mary, lived out in each day's prayer and activity; The promotion of the values of love, fidelity and responsibility in all families; The intentions of fellow Family Members, in union with the prayer life and apostolic work of the Missionaries of the Sacred Hearts; The particular needs and prayer intentions for the family of each Member.

Three Common Reasons for Medical School Rejection

Three Common Reasons for Medical School Rejection After months of waiting and hoping, you get the word: Your application to medical school was rejected. It’s never an easy email to read.   You’re not alone, but knowing that doesn’t make it easier. Get angry, grieve, and then, if you are considering reapplying, take action.   Medical school applications are rejected for a wide range of reasons. Often it is as simple as too many stellar applicants and too few spots. How do you increase your odds of gaining admission next time? Learn from your experience. Consider these three common reasons why medical school applications may be rejected. Poor GradesOne of the best predictors of achievement is past achievement.   Your academic record is important as it tells admissions committees about your academic capacities, commitment, and consistency. The best applicants consistently earn a high grade point average (GPA) in their general education classes and especially their premed science curriculum. More rigorous courses tend to be weighted more heavily than less challenging classes. Admissions committees might also consider the institution’s reputation in considering an applicant’s GPA.   However, some admissions committees use GPA as a screening tool to narrow the applicant pool, without considering applicants’ coursework or institution.   Like it or not, have explanations or not, a GPA of less than 3.5 can be blamed, at least partly, for being rejected from medical school.   Ã‚  Ã‚   Poor MCAT ScoreWhile some medical schools use GPA as a screening tool, the majority of med schools turn to Medical College Admission Test (MCAT) scores to weed out applicants (and some institutions use a combined GPA and MCAT score).   Applicants come from different institutions, with different coursework, and different academic experiences, making it difficult to draw comparisons. MCAT scores are critical because they are the only tool admissions committees have for making direct comparisons among applicants – apples to apples, so to speak.   A minimum MCAT score of 30 is recommended.   Do all applicants with MCAT scores of 30 get accepted or even interviewed? No, but 30 is a good rule of thumb as to a reasonable score that can keep some doors from closing.   Lack of Clinical ExperienceThe most successful medical school applicants obtain clinical experience and relay this experience to the admissions committee. What is clinical experience? It sounds fancy but it is simply experience within a medical setting that allows you to learn something about some aspect of medicine.   Clinical experience shows the admissions committee that you know what you are getting in to and illustrates your commitment. After all, how can you convince a committee that medical career is for you if you haven’t even observed medical personnel at work?   Discuss this experience in the activities and experience section of the   American Medical College Application (AMCAS). Clinical experience can include shadowing a physician or two, volunteering in a clinic or hospital, or participating in an internship through your university. Some premed programs offer opportunities for premed students to acquire clinical experience. If your program doesn’t offer help in obtaining clinical experience, don’t worry. Try speaking with a professor or visit a local clinic or hospital and offer to volunteer. If you go this route make contact with someone at the facility who will supervise you and consider asking a faculty member at your university to establish contact with your supervisor. Remember that obtaining clinical experience is great for your application but it is especially helpful when you can specify site and faculty supervisors who can write recommendations on your behalf. No one wants to read a rejection letter. It is often hard to determine exactly why an applicant is rejected, but GPA, MCAT scores, and clinical experience are three critical factors.   Other areas to examine include recommendation letters, also known as letters of evaluation, and admissions essays.   As you contemplate reapplying, reevaluate your choices of medical schools to ensure that they best fit your credentials. Most important, apply early to have the best odds of admission to medical school. Rejection Is not necessarily the end of the line.

Components of a Job Description for Fundraising Assignment

Components of a Job Description for Fundraising - Assignment Example Similar to every job position fundraisers also perform their best when they actually know the expectations of their recruiters and the overall purpose of fundraising (Tempel, 2011). Since the components of a job description briefly address the job requirements, therefore, it is important to consider them when hiring a fundraiser. Developing a job description is actually the process of putting candidate selection criteria in writing. Here, it is important to note that job description not only summarizes the responsibilities and duties of the selected candidate rather it also mentions the aptitude and skills necessary to perform the job, for instance, training requirements, education, motivation and experience. All these elements actually help in recruiting the right person for the job (Stone, 2003). 1. Title of the Job: The job position is introduced in this section with a brief discussion about company’s background and its products/services. The job title is developed considering all the job requirements, expectations and responsibilities. Although the title is short but its description may have two or three sentences. It plays an important role in catching reader’s attention while inviting him to read a further description. 2. Statement of Objectives: Aims and objectives related to the job position should be mentioned clearly so that candidates can easily evaluate them according to their career goals. For instance, if the job description is about marketing position then objectives must refer to the customer needs and the company’s strategies to address them. On the other hand, if the job description is prepared for a non-profit organization then the objectives to meet the social needs should be mentioned here. 3. Major Responsibilities: These can be divided into two parts i.e. general responsibilities and the major tasks. For instance, a marketer’s foremost responsibility is to prepare marketing strategies but his general responsibility includes monitoring the ongoing marketing campaigns, feedback reports, presentations etc.  

Administrative Agencies Essay Example | Topics and Well Written Essays - 500 words

Administrative Agencies - Essay Example It created a state of rivalry and conflict and paved the way towards torture, crimes, clashes, violence and wars. Subsequently, the wise and sage stratum of society felt the immediate need of rules and regulations in order to maintain peace and harmony in human societies. Social norms, values, law and order came into being, where different departments were established to make laws, implement these laws and announce punishment to those, which break the prevailing statutes of law and deviate from the right path determined and decided by the political authorities; consequently, the administrative agencies were got their decisive place in all human societies. Like all parts of the globe, administrative agencies were also established in the USA, which is certainly the outcome of the intellect and hard work made by the legislature of the country. Administrative agencies are created by the federal Constitution, the U.S. Congress, state legislatures, and local lawmaking bodies to manage crises, redress serious social problems, or oversee complex matters of governmental concern beyond the expertise of legislators. (Quoted in law.jrank.org) The administrative agencies have performed outstanding role in the USA in respect of the sustenance of a strong and powerful political system on the one hand, and an integrated and law-abiding social set up on the other. These agencies have rendered exemplary services for the rescue of the masses in crises, disasters, natural calamities and catastrophes of national and state scales. In general, Vago observes, administrative agencies were created to deal with a crisis or with emerging problems requiring supe rvision and flexible treatment. (2009, 130) But they have proved their worth in trade, commerce, communications, housing, travelling, teaching, nursing and even legislative and judicial services through administrators, councilors, mayors, governors, magistrates and police officials. From saving the lives during

Cloud Computing Essay Example | Topics and Well Written Essays - 15250 words

Cloud Computing - Essay Example tions to common problems hindering business industry and the global development like, security, legal issues, and vendor lock-in which are still under review without regulations and standardisation across Cloud Computing providers. Through the expertise in the mentioned field of work, I utilised my prowess extraneously to implement long term IT projects with constantly growing budgets acceptable as the norm under which I had to go through, until I got involved in implementing a CRM solution based on Cloud Computing platform. However, to my surprise, the implementation of Cloud computing just took few months hence both solutions and resolutions based on customer feedback from the sales teams. It’s one of the best solutions we’ve implemented, unlocking a great business potential with improved productivity. It’s believe that the research will be of great benefit to business and IT community interested in the subject, as it provides number of reference points to whic h some of the latest publications on the topic, â€Å"Cloud Computing† be reviewed, a real life implementation example, plus research surveys integrating the expert opinions from some of the leading global organisations and individual involvement in Cloud Computing. â€Å"Once involved in Cloud Computing, individuals would appreciate and admit that the older state of forgone technology was just a prototype of a new kind of power-plant, a computing power plant that would change the information age compared to the effects of electric plants on the industrial age† – (Nicolas Carr - â€Å"The Big Switch† - 2008) The level and speed of technological advancement is drastic hence more elaborate information system understanding that every common man with or without IT knowledge could appreciate the cost... The dissertation is based on technological advancement especially the involvement on Cloud Computing that has been intensified through the availability of high speed fibre optic network with ability to transport high data bandwidth at extra high speed without signal degradation and crosstalk. However, the Cloud Computing is concerned with the implementation of online businesses and Cloud space business that could be used by anybody interested in any business that could be availed online. Other than business, a lot more is available to the internet users including social and other commercial sites that are used to convey information to various users online depending on the sites that users are interested into. Other than Cloud computing, the research paper is based on live experience on how the information age developed centuries ago and the implications related to the invention and implementation of computer age with Cloud Computing through availability of internet services. Through the involvement of TCP/ IP, http and HTML Cloud computing is aimed at availing resources closer to the users hence there is no need for having extra storage facilities as everything could be readily available cheaply through the system. However, through intensified online business, users attain the required information that relates to their perceived requirements. To support this, authors in the information technology field have also emphasised their views and research findings to support their perception on the information technology and Cloud Computing.

CourseWork (the dead line is on the 26 of march ) i will be able to

(the dead line is on the 26 of march ) i will be able to give more time if needed - Coursework Example 2009). In the context of business planning, the factors associated with cost and benefits are critical and must be understood. Similarly, cost benefit analysis is also critical in the context of projects associated with GIS engineering and management. Scenarios This report is associated with cost / benefit analysis for two scenarios. The first scenario includes an interest rate of 4%, which indicates it as a best-case scenario, while the other scenario is the worst-case scenario with the interest rate of 10%. Specification for Costing Cost of five workstations with minimum configuration of Quad-core processor, 2GB RAM and 250GB Hard Disk is illustrated below: Cost of single Workstation * 5 = ? 1300 * 5 = ?6500 Cost of upgrades in Year 3 and 6 = 2 *?650 * 5 = 2 * ?3000 = ?6000 Licensing Cost for GIS Software Cost for Year 1,2,4,6 = ?10000, Cost for Year 3, 5, 7 = ?3000 Data Purchasing Cost Total cost of Map Purchase = ?19500 Employment Cost Total costs of Salaries increasing at 3.5% p er annum are as follows: Year 1 = ?195,000, Year 2 = ?202,000, Year 3 = ?209,000, Year 4 = ?216,000, Year 5 = ?224,000, Year 6 = ?231,000 and for Year 7 = ?239,000 Conversion and Miscellaneous Cost Conversion Cost (1 time) = ?5000 (Given) Miscellaneous Cost = ?3000 (Given) Benefit Total Savings in the context of employments as salaries are as follows: Year 1 = ?195,000, Year 2 = ?202, 000, Year 3 = ?209,000, Year 4 = ?216,000, Year 5 = ?224,000, Year 6 = ?231,000, Year 7 = ?239,000. Efficiency Savings (Increasing at the rate of 4.5%) For Year 1 = ?15000, Year 2 = ?15675, Year 3 = ?16380, Year 4 = ?17117, Year 5 = ?17887, Year 6 = ?18691 and Year 7 = ?19532. Scenario 1 ( Interest Rate 4%) The first scenario demonstrates the implementation of a GIS project with the interest rate of 4% which is considered as lowest when compared to normal. The interest rate of 4% (0.04), Fig 1.1 illustrates similarity for both cost and benefits in the graph over the period of 7 years , with the cost be nefit ratio of 1. Moreover, the net present value is also demonstrating 1st and 4th year of implementation is negative for the projects.In comparision with both the cases, consequent years 2 and 5 are highlighting recovery and constant positivity for the net present value. Figures for implemtation of the net present value over 7 years are calcuated as 16.54. Moreover, the profitibality month starts from the 2nd year till the 5th year with implementation outweigh is cost that conludes to benefit. Both the implementation present value and the net present value at the end of 5 years are positive. For this reason, productivity does not requires icrement as the net present value is already shoiwng healthy progress at the end of year 7. Scenario 2 (Interest Rate 10%) This is the scond scenario in which the worst case has been considered. The interest rate allocated for the worst scenario is at 10% (0.1), which is considerably high as compared to normal interest rates for worst case scenar ios. In figure 1.2, the demonstration of the graph is reflecting cost and benefit worms are close and following in the same direction, while it is also showing that cost overruns arises in 1st and 4th years . Whereas, the reaminder for cost and benefits

Controller Suggestions for ABC Company Math Problem

Controller Suggestions for ABC Company - Math Problem Example There are numerous lawsuits that are filed against companies dealing with building materials as a result of faulty products, which lead to ‘sick buildings’. The company risks paying huge fines if it is accused of selling products of this nature and fails to win the case. i. What does this statement of cash flow tell you about the sources and uses of the company? The cash flow statement above shows that the company largely relies on the operating activities for financing, and most of its expenditure goes to the operating activities. Surprisingly, the company appears to have kept away from alternative investments, which could otherwise offer a reprieve to the cash flow challenges the company is experiencing. ii. Is there anything ABC Company can do to improve the cash flow? The ABC Company has many alternatives that can be used to improve its cash flow. The current cash situation is very bad especially because the company has focused on its operating activities to generate cash at the expense of alternative sources of cash. Ideally, the company can use borrowed cash to finance in new and profitable ventures. Currently, there is no evidence of the company repaying any loan interest and hence opting for a loan will balance the company’s capital structure. The company should also ensure that the cash that is borrowed is used to finance operations that will boost the sales by a big margin, so that the cash inflow from operations can be boosted. iii. Can this project be financed with current cash flow from the company? Why or why not? This project cannot get financing from the current cash flow from the company because it is not adequate. For instance, the current year’s cash flow statement revealed only $5,000 was left as the net balance. The anticipated project needs fiance to be sourced from outside, for example by borrowing from a bank or issuing new shares among other sources (Leary and Roberts 2575). iv. If the company needs additional financing beyond what the ABC Company can provide internally (either now or sometime throughout the life of the project), how would you suggest the company obtain the additional financing, equity or corporate debt, and why? The company should obtain corporate debt since it is the best option to finance this particular project. Ideally, this is the best option as opposed to equity because there is some evidence that the company has already invested in equity because of the dividends being paid to the shareholders, yet there is no evidence of debt finance. Perhaps, to realize the maximum from the invested capital, the company should strike a good balance between equity and debt. Furthermore, obtaining financing by issuing more equity shares will water down the shareholders stake and this could not be in the interest the shareholders. Therefore, it would be advisable for the company to obtain corporate debt so long as the benefits that will be realized from such financing will outweig h the interest paid for the debt (Leary and Roberts 2575). III. Product cost a. What is the product cost for the expansion product? Expansion Product (estimate) Selling Price ? Units produced and expected to be sold 5,000 Machine Hours 5,000 Direct Materials 28,000 Direct labor dollars

Cap and Trade System vs. Carbon Tax System Research Paper

Cap and Trade System vs. Carbon Tax System - Research Paper Example The call for robust action on climate change is coherent and urgent. It is obvious to any environmental conservationist that without firm action the effects from heat waves, droughts, flooding, hurricanes and other adverse weather occurrence will always keep worsening, creating even disastrous human and economic effects (Environmental Justice Matters 2). There are basically some approaches to be opted for:   a direct carbon tax and a cap-and-trade approach.  Ã‚   Climate change critiques have so far seen success in stopping adoption of whichever of these appears to have any momentum (Environmental Justice Matters 2). With cap-and-trade, they not only managed to disorganize and finally prevent enactment of the Waxman-Markey bill in the 110th Congress, but were able to tar cap-and-trade as a critically uncalled for strategy in the general political dialogue – notwithstanding its prior consensus success with SO2 and NOX (Environmental Justice Matters 2). Economists hold the v iew that, if the market is left to operate freely, greenhouse gas emissions will be too much, since there is not enough incentive for firms and households to cut emissions. Out of that, they propose the polluter pays principle and fixing a price on carbon dioxide and other greenhouse gases (Hedges 1). This can be made possible through either a carbon tax or a cap-and-trade scheme. A carbon tax imposes a tax per unit of greenhouse gas emissions and gives firms and households, an incentive to cut pollution if doing so would cost less than paying the tax (Lavelle 4). Because of that, the size of pollution reduced is a factor of the chosen level of the tax. The tax to be paid is arrived at by assessing the cost associated with each unit of pollution and the costs of controlling that pollution. Setting the tax level too low will cause the firms and households to probably opt for paying the tax and continuing to pollute, above what is optimal for society. Very high and the costs will esca late higher than necessary to cut emissions, impacting on profits, jobs and end consumers (Lavelle 4). On the other side, a cap-and-trade system sets an optimum level of pollution, a cap, and disburses emissions permits to firms that produce emissions. Companies should have a permit to cover each unit of pollution they produce, and they can get these permits either through an initial allocation or auction, or through trading with other firms. Since some firms suddenly find it cheaper to cut pollution than others, trading occurs (Klare 12). While the maximum pollution quantity is put in place in advance, the trading price of permits vary, becoming more expensive when demand is high relative to supply and cheaper when demand is lower. A price on pollution is therefore come up with as a result of setting a ceiling on the overall quantity of emissions. As time passes, the limits become stricter, cutting pollution simultaneously until the desired reduction goal is reached. This is typica l example of the cap and trade program enacted by the Clean Air Act of 1990, which cut the sulfur emissions that cause acid rain and it met the target at a much lower cost than industry or government anticipated (Klare 12). It will therefore turn out to be cheaper for some firms to reduce their emissions below their permitted limit than others. These more dynamic companies, who emit below their allowance, can trade their extra with companies that are not able to make reductions as easily. This leads

Controller Suggestions for ABC Company Math Problem

Controller Suggestions for ABC Company - Math Problem Example There are numerous lawsuits that are filed against companies dealing with building materials as a result of faulty products, which lead to ‘sick buildings’. The company risks paying huge fines if it is accused of selling products of this nature and fails to win the case. i. What does this statement of cash flow tell you about the sources and uses of the company? The cash flow statement above shows that the company largely relies on the operating activities for financing, and most of its expenditure goes to the operating activities. Surprisingly, the company appears to have kept away from alternative investments, which could otherwise offer a reprieve to the cash flow challenges the company is experiencing. ii. Is there anything ABC Company can do to improve the cash flow? The ABC Company has many alternatives that can be used to improve its cash flow. The current cash situation is very bad especially because the company has focused on its operating activities to generate cash at the expense of alternative sources of cash. Ideally, the company can use borrowed cash to finance in new and profitable ventures. Currently, there is no evidence of the company repaying any loan interest and hence opting for a loan will balance the company’s capital structure. The company should also ensure that the cash that is borrowed is used to finance operations that will boost the sales by a big margin, so that the cash inflow from operations can be boosted. iii. Can this project be financed with current cash flow from the company? Why or why not? This project cannot get financing from the current cash flow from the company because it is not adequate. For instance, the current year’s cash flow statement revealed only $5,000 was left as the net balance. The anticipated project needs fiance to be sourced from outside, for example by borrowing from a bank or issuing new shares among other sources (Leary and Roberts 2575). iv. If the company needs additional financing beyond what the ABC Company can provide internally (either now or sometime throughout the life of the project), how would you suggest the company obtain the additional financing, equity or corporate debt, and why? The company should obtain corporate debt since it is the best option to finance this particular project. Ideally, this is the best option as opposed to equity because there is some evidence that the company has already invested in equity because of the dividends being paid to the shareholders, yet there is no evidence of debt finance. Perhaps, to realize the maximum from the invested capital, the company should strike a good balance between equity and debt. Furthermore, obtaining financing by issuing more equity shares will water down the shareholders stake and this could not be in the interest the shareholders. Therefore, it would be advisable for the company to obtain corporate debt so long as the benefits that will be realized from such financing will outweig h the interest paid for the debt (Leary and Roberts 2575). III. Product cost a. What is the product cost for the expansion product? Expansion Product (estimate) Selling Price ? Units produced and expected to be sold 5,000 Machine Hours 5,000 Direct Materials 28,000 Direct labor dollars

Troubled masculinity Essay Example | Topics and Well Written Essays - 3000 words

Troubled masculinity - Essay Example The peculiar aspect of this influence lies in the fact that the old forms of social relationship as well as commonly accepted practices are damaged; that is why, according to Zimmer-Tamakoshi, men feel that their masculinity is at risk. No matter now sorrowful it may seem, but one of the most widely practices ways of reinforcing masculinity in Papua New Guinea is manifested in the form of marital violence. All the researchers point out that this is a tremendous problem which heavily affects women. Indeed, Wardlow argues that men do not allow women to fully embrace the ways of modernity and use violence as a tool to control them (147). What is more important is that people of Papue New Guinea were traditionally known to be quite aggressive and impulsive which means that there is a significant history of violence among the local population. As a result, the contemporary rise in marital violence is not seen as something extraordinary: it is regarded as a valid manifestation of the traditional practices. In spite of the fact that this can be seen from different perspectives, it is beyond any doubt that women suffer from such state of affairs. Finally, the authors agree on the fact that Christianity should also be credited for changing the social environment of the region in question. Indeed, various Christian denominations saw Papua New Guinea as a platform to exercise their influence and were quite delighted to find locals there since with their help the congregation will become bigger.

Do Violent Video Games Cause Youth Violence Media Essay

Do Violent Video Games Cause Youth Violence Media Essay During the last years, the popularity of violent video games has increased significantly. Consequently, parents and teachers have become worried that these violent videogames may contribute or cause youth violence. These games have been blamed for school shootings, juvenile crime and sexist violence. In addition, the criticism towards violent video games from the media, and the parental community are so continuous, the causal connection between the videogames and violence has been accepted as an absolute reality. But the truth is another. Patrick Kierkegaard, a PhD student at Nottingham University, revised the researches and investigations on this matter, and published his conclusions in the magazine International Journal of Liability and Scientific Enquiry. In his work, he questions if there is scientific evidence that states that violent videogames contribute to violence or aggressive behavior, and the truth of the matter is: there is none. He also notes that if a connection between playing violent videogames and the activation of the regions of the brain associated with violence is produced, is not grounds for establishing a strong, proven and evident bond between the players attitude while playing the game and his behavior in real life. Furthermore, he states that there is no relationship between juvenile violence and the increasing sales of violent video games. In fact the effect seems to be the opposite, it looks like violent video games have decreased violence, but this theory hasnt been proven either. Moreover, Kierkegaard shows concrete data and statistics, such as, the reduction of violent crime in the United States, since the 90Â ´s, particularly among the youth, while video games have gained a lot of popularity and use, and he adds with millions of violent video games sold, the world should be experiencing a breakout of violence, instead, violence has decreased (Kierkegaard). And then there is this: In 2005, the US had 2,279 murders committed by teenagers compared to 73 in Japan. Per capita, video game sales were $5.20 in the US compared to $47 in Japan. This example illustrates that there is no correlation between violent behavior and playing video games. Duke Ferris published an article in Game Revolution titled The Truth About Violent Youth and Video Games. The author, a video game programmer doesnt take an academic approach to this issue, but uses official sources to support his point. In his article he says that over 300 studies have been conducted to see the effects of violent media, 30 of them studied video games. The majority did not find anything, but some found a correlation between violence and violent media. Now, even if this was true, correlation is not the same as causation. The reason for these results, according to the author, is that violent people are attracted to violent media. Blaming violent media would be like going to the opera, noticing that most people there are rich, and concluding that opera makes people rich (Ferris). Another point that Ferris presents, is an analysis of the risk factors of youth violence by the Surgeon General of the United States of America. In this analysis violent media was classified as small effect size, and other factors such as, socioeconomic status, academic failure, poor parent-child relations, weak social ties, and just being male were rated as higher risk factors than violent media exposure. Additionally correlation between violent video games and youth violence was proven to be ineffective by judge Consuelo Callahan, in Video Software Dealers Association v. Schwarzenegger. In this trial, Schwarzenegger claimed that violent video games cause neurological and psychological harm, but the evidence presented was a study that showed just a correlation to which Callahan responded, In sum, the evidence presented by the State does not support the Legislatures purported interest. Nearly all of the research is based on correlation, not evidence of causation. (Callahan). Callahan also wrote that the research presented, did not show any link regarding causation of neurological or psychological harm by violent video games. The ruling favored the video software association. Steven Johnson wrote an article for Los Angeles times. In this article, he talks about Hillary Clinton vs. the Xbox: Game Over. In his article he commends Senator Clinton for proposing a $90 million study on the effects of violent video games on children, and for her courageous stand against Grand Theft Auto videogames, this obviously is sarcasm because then he says he would like Clinton to put her attention in another game whose nonstop violence has caught the attention of millions of children, this game, he writes, plants violent thought on its players and some of these players have gone to the real world and committed acts of violence and sexual assault (Johnson). He was talking about football. In addition he suggests that congress should focus in these facts: The last 10 years have seen the release of many popular violent games, including Quake and Grand Theft Auto, at this same time violent crime has decreased. According to Duke Universitys Child Well-Being Index, todays kids are less violent than kids have been at any time since the study began in 1975. (Johnson). In addition, Johnson believes that violent video games are actually good for peoples brain. For example he says that playing video games provides the player a cognitive training to the mind, and it develops mental skills as important as skills developed while reading books. The exercises that the internet, video games, and even movies offer, explain the increase in the intellectual coefficients of North Americans. Games and movies played and watched today would have been considered much complicated for the audience of thirty years ago, but now they capture the attention of millions of people. Finally, he sugges ts that violent videogames have been demonized by people who tend to generalize everything, just like the same thing when cars or rock and roll music first appeared. To conclude, the majority of violent video games players are old enough to understand the difference between the game and real life; therefore, they will not emulate the actions that the characters in their games do, nor will they rob banks, kill, or go to war. Its clear that violent video games do not cause violence. The real causes of violence are: depression, family problems, and just aggressive traits. The evidence that shows a correlation between games and violent video games are not effective to prove such games are harmful to children or cause violence. Parents and individuals who protest against these type of entertainment, should focus on the real causes of youth violence and not point fingers without informing themselves properly

Dark Matter :: physics science space

Missing Diagrams You, the computer you’re sitting at, the air you breathe, even the distant stars are all made up of protons electrons and neutrons. For a long time this ordinary matter, or what physicists like to call baryonic matter, was thought to be the main constitute of the universe. However, in the past twenty years evidence has been accumulating to the contrary, that in fact the universe is much stranger than ever thought of before and is almost entirely made up of something that we can’t see. For a long time astronomers weren’t concerned about the mass of objects that they couldn’t see. For example the earth is too small and dim to see from any great distance and all the planets in out solar system make up less than one percent of the total mass of the sun. However it soon became a concern when astronomers began to measure the mass of galactic clusters and it became apparent that there was a significant amount of matter unaccounted for. In the thirties, astronomers named Zwicky and Smith both examined closely two relatively nearby clusters, the Coma cluster and the Virgo cluster. They looked at the individual galaxies making up the clusters individually, and the velocities of the clusters. What they found was that the velocities of the galaxies were about a factor of ten to one hundred larger than they expected. In a cluster the main force is the gravitational pull of the galaxies on one another which gives rise to their velocities. By knowing the velocities of the galaxies the total mass of the cluster can be determined. If your web browser is Java-aware -- e.g., Netscape 2.0b or higher, try this experiment. It allows you to vary the mass inside a galaxy cluster, and watch the individual galaxies. Experiment I ( Courtesy of John's Homepage http://www.astro.queensu.ca/~dursi/dm-tutorial/dm1.html) Now like all observations there is a certain amount of error involved. In this case, watching the galaxies in a cluster takes years of observation and the velocities are hard to determine due to the expanse of the cluster. It’s not like the experiment were the dots are whizzing around. Also some of the galaxies measured may not be in the cluster but are just in the line of site of the telescope.

Arthurs Unrealism: Monty Python, Gawain and the Green Knight, and the Destruction of :: Essays Papers

Arthur's Unrealism: Monty Python, Gawain and the Green Knight, and the Destruction of Ideals It may be that ideals are necessary for humanity. Without idealized images, codes of behavior, even idealized objects, mankind would have difficulty functioning. There would be a lack of context or criteria with which to judge objects that may be termed less than ideal. However, the problem with idealized images is that they can never be described fully, and certainly never attained. An example is the contemporary ideal of feminine beauty, which has led to countless problems such as depression and psychological dietary disorders among women who perceive themselves to be "inadequate." The more culturally emphasized an ideal is, the more ordinary people are made to feel inadequate. This has led to a trend common to all centuries, that of puncturing ideals by showing them to be less than what they are supposed to be. In art and literature we see manifestations of this mechanism. It is a protective mechanism in a sense, for it prevents total absorption in the ideal, forcing us to see it for what it is, a benchmark and not a realistic goal. Even in the works where men and women achieve the ideal, it is usually accomplished by supernatural means, for a concomitant of the ideal is that it cannot truly exist in the natural and hence imperfect world. Examples of such mechanisms range from the colloquialism "out of this world" to describe the superlative to the common mythological pattern of the religious leader being the son of a god. One of the most enduring myths in the Western world is that of Arthur and his Knights of the Round Table. Regardless of the origins of the tales, the fact is that by the time they had been filtered through a French sensibility and re-exported to England, they were representations of not one but several ideals. Courtly love and chivalry and the various components thereof, such as martial prowess, chastity, bravery, courtesy, and so on, were presented as the chief virtues to aspire to, and the knights as role models. Arthur's eventual fall is precisely because of having failed at some level to fulfill these ideals in his life. The Arthurian cycle shows a sporadic awareness of the impossibility of mere humans fulfilling all the ideals that Arthur and his court represent. The story of Lancelot and Guenevere, Merlin's imprisonment by Nimu‘, and numerous other instances testify to the recognition of this tension between the real and the unrealistic.

Nature of Financial Management

Chapter 3 – NATURE OF FINANCIAL MANAGEMENT What is finance Finance can be defined as he art and science of managing money. Virtually all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among individuals, business and governments. Nature of Financial Management Financial Management as an academic discipline has undergone fundamental changes as regard its scope and coverage.In the earlier years, it was treated synonymously with the raising of funds. In the later years, its broader scope, included in addition to procurement of funds, efficient use of resources. Scope of Financial Management Financial is broadly concerned with the acquisition and use of funds by a business firm. The important tasks of financial management, as related to the above, may be categorized as follows: – A. Financial Analysis, Planning and Control †¢ Analy sis of financial condition and preference †¢ Profit Planning †¢ Financial forecasting †¢ Financial Control B.Investing †¢ Management of current assets (cash, marketable securities, receivables and inventories) †¢ Capital Budgeting (identification, selection and implementation of capital projects) †¢ Managing of mergers, reorganizations and divestments C. Financing †¢ Identification of sources of finance and determination of financing mix †¢ Cultivating sources of funds and raising funds †¢ Allocation of profits between dividends and retained earnings Important Topics in Financial Management Table 1. 1 Balance Sheet and Topics in Financial Management Share CapitalEquityCapital Structure and Cost of Capital Preference Reserves and Surplus Debentures Unsecured Loan Current Liabilities & ProvisionsWorking Capital Trade CreditorsFinancing Policy Provisions Fixed Assets (Net)Capital Budgeting Gross Block Less Depreciation InvestmentSecurity Ana lysis Current Assets, Loans and Advances Cash and bank balancesCash Management ReceivablesReceivables Management InventoriesInventory Policy Loans and Advances Miscellaneous Expenditure and Losses Table 1. 2 Income statement and Topics in Financial Management Net SalesRevenue risk Cost of goods SoldMaterials and stocks Wages and Salaries Other Manufacturing Expenses Gross ProfitGross profit margin Operating Expenses Selling and Administration Expenses DepreciationDepreciation Policy Operating Profit Non operating surplus / deficit Earnings before interest and taxBusiness risk InterestFinancial risk Profit before tax TaxTax planning Profit after taxReturn on equity DividendsDividend policy Retained Earnings Goals / Objectives of Financial Management- Traditional Approach – It has been traditionally been argued that the objective of a company is to earn profit.This means that the finance manager has to make decision in a manner that the profit is maximised. Each alternative, th erefore, is to be seen as to whether or not it gives maximum profit. Profit maximization objective gives rise to a number of problems as below: – i) Profit maximization concept should be considered in relation to risks involved. There is a direct relationship between risk and profit. Many risky propositions yield high profit. Higher the risk, higher is the possibility of profits. If profit maximization is the only goal, then risk factor is altogether ignored. i) Profit maximization, as an objective does not take into account time pattern of return. Proposal A may give a higher amount of profits compared to proposal B, yet if the returns begin to flow say 10 years later, proposal B may be preferred which may have lower overall profits but the returns flow is more early and quick. iii) Profit maximization, as an objective is too narrow. It fails to take into account the social considerations as also the obligations to various interests of workers, consumers, society as well as ethical trade practices.Further, most business leaders believe that adoption of ethical standards strengthen their competitive positions. iv) Profits do not necessarily result in cash flows available to the stockholder. Owners receive cash flow in the form of either cash dividends paid to them or proceeds from selling their shares for a higher price than paid initially. Modern Approach – The alternative to profit maximization is wealth maximization. This is also known as Value maximization or Net Present Worth maximization. Value is represented by the market price of the company’s equity shares.Prices in the share market at a given point of time, are the result of many factors like general economic outlook, particular outlook if the companies under consideration, technical factors and even mass psychology. However taken on a long-term basis, the share market prices of a company’s shares do reflect the value, which the various parties put on a company. Normally, the value is a function of two factors (i) The likely rate of earnings per share of a company (EPS) and (ii) The capitalization rateEPS are calculated by dividing the periods total earnings available for the firm’s common shares by the number of shares of common shares outstanding. The likely rate of earnings per share (EPS) depends on the assessment as to how profitably a company is going to operate in the future. The capitalisation rate reflects the liking of the investors for a company. If the company earns a higher rate of earning per share through risky operations or risky financing pattern, the investors will not look upon its shares with favour. To that extent, the market value of the shares of such a company will be low.If a company invests its fund in risky ventures, the investors will put in their money if they get higher return as compared to that from a low risk share. The market value of a firm is a function of the earning per share and the capitalisation rate. S uppose the Earning per share are expected to be Rs. 7 for a share, and the capitalisation rate expected by the shareholder is 20 per cent, the market value of the share is likely to be 7 7 x 100 —— = ———- = Rs. 5 20% 20 This is so because at this price, the investors have an earning of 20%, something they expect from a company with this degree of risk. The important issues relating to maximizing share prices are Economic Value Added (EVA) and the focus on stakeholders. Economic Value Added (EVA) is a popular measure used by many firms to determine whether an investment – proposed or existing – contribute positively to the owner’s wealth. EVA is calculated by subtracting, the cost of funds used to finance or investment from its after-tax-operations profits.Investments with positive EVA increase shareholder value as those with negative EVA reduce shareholders value. For example, the EVA of an investment with after tax operation s profits of Rs. 510,000 and associated financing costs of Rs. 475,000 would be Rs. 35,000 (i. e. Rs. 410,000 – 375,000) Because this EVA is positive, the investment is expected to increase owner wealth and is therefore acceptable. What about Stakeholders? Stakeholders are group such as employees, customers, suppliers, creditors, owners and others who have a direct economic link to the firm.A firm with a stakeholder focus consciously avoids actions that would prove detrimental to stakeholders. The goal is not to maximize stakeholder well being but to preserve it. It is expected to provide long run benefit to shareholders by maintaining positive stakeholder relationships. Such relationship should minimize stakeholder turnover, conflicts and litigation. Clearly, the firm can better achieve its goal of shareholder wealth maximization by maintaining cooperation with other stakeholders rather than having conflict with them. The Role of ethics – Ethics is standards of conduc t or moral judgment.Today the business community in general and the financial community in particular are developing and enforcing ethical standards, purpose being to motivate business and market participants to adhere to both the letter and the spirit of laws and regulations concerned with business and professional practice. An effective ethics program is believed to enhance corporate value. An ethics program can reduce potential litigation and judgment costs, maintain a positive corporate image, and build shareholders confidence, and gain the loyalty, commitment and respect of the firms stakeholders.Such actions, by maintaining and enhancing cash flow and reducing perceived risk, can positively affect the firm’s share prices. Ethical behaviour is therefore viewed as necessary for achieving the firm’s goal of owner wealth maximization. Place of Finance function in the organization structure: – The finance function is almost the same in most enterprises. The det ails may differ but the important features are universal in nature. The finance function occupies such a major place that it cannot be the sole responsibility of the executive.The important aspects of the finance function have to be carried on by the top management i. e. the Managing Director and the Board of Directors. It is the Board of Directors, which makes all the material final decisions involving finance. Financial management in many ways is an integral part of the jobs of managers who are involved in planning, allocation of resources and control. The responsibilities for financial management are disposed throughout the organization. For example: †¢ The engineer, who proposes a new plant, shapes the investment policy of the firm. The marketing analyst provides inputs in the process of forecasting and planning. †¢ The purchase manager influences the level of investment in inventories. †¢ The sales manager has a say in the determination of receivable policy. â₠¬ ¢ Departmental managers, in general, are important links in the financial control system of the firm. The chief financial officer (CFO) is basically to assist the top management. He has an important role to contribute to good decision making on issues, which involve all the functional areas of the business. He must clearly bring out financial implications of all decisions and make them understood.CFO (his designation vary from company to company) works directly under the President or the Managing Director of the company. Besides routine work he keeps the Board of Directors informed about all the phases of business activity, including economic, social and political developments affecting the business behaviour. He also furnishes information about the financial status of the company by reviewing from time to time. The CFO may have different officers under him to carry out his functions. Broadly, the functions are divided into two parts. (i) Treasury function (ii) Control functionTre asury function (headed by financial manager) is commonly responsible for handling financial activities, such as financial planning and fund raising, making capital expenditures decisions, managing cash, managing credit activities, managing the pension fund and managing foreign exchange. The control function (headed by Chief Accountant / Financial Controller) typically handles the accounting activities such as corporate accounting, tax management, financial accounting and cost accounting. The treasurer’s focus tends to be more external, the controllers focus more internal: – BOARD OF DIRECTORSManaging Director/President V. P ProductionV. P FinanceV. P Sales Treasurer Controller Credit Cash Banking PortfolioCorporate Taxes Internal Budgeting Management Management Relation ManagementGeneral Audit Accounting & Cost Accounting Fig 1. 1 Organization chart of finance function Relationship of field of finance with economics – The field of finance is closely related to e conomics. Financial managers must understand the economic framework and be alert to the consequences of varying levels of economic activity and changes in economic policy.They must be able to use economic theories as guidance for efficient business operation. Examples include supply-demand analysis, profit-maximizing strategies, and price theory. The primary economic principle used in managerial function is marginal analysis, the principle that financial decisions should be made and actions taken only when the added benefits exceed the added costs. Nearly all-financial decisions ultimately come down to an assessment of their marginal benefits and marginal costs. Relationship to Accounting – The firm’s finance (treasurer) and accounting (controller) activities are closely related and generally overlap.Normally managerial finance and accounting are not often easily distinguishable. In small firms the Controller often carries out the finance function and in large firms ma ny accountants are also involved in various finance activities. There are two basic differences between finance and accounting: – i) Emphasis on cash flows: – The accountant’s primary function is to develop and report data for measuring the performance of the firm, assuming its financial position and paying taxes using certain standardized and generally accepted principles. The accountant prepares financial statements based on accrual basis.The financial manager places primary emphasis on cash flows, the inflow and outflow of cash. ii) Relating to decision-making: – Accountants devote most of their operation to the collection and presentation of financial data. The primary activities of the financial manager in addition to ongoing involvement in financial analysis and planning are making investment decisions and making financing decisions. Investment decisions determine both the mix and the type of assets held by the firm. Financing decisions determine bo th the mix and the type of financing used by the firm.However the decisions are actually made on the basis of cash flow effects on the overall value of the firm. Interface with other Functions – Finance is defined as the lifeblood of an organization. It is a common thread, which binds all the organizational functions as each function when carried out creates financial implications. The interface between finance and other functions can be described as follows: – Manufacturing Finance – i) Manufacturing function necessitates a large investment. Productive use of resources ensures a cost advantage for the firm. i) Optimum investment in inventories improves profit margin. iii) Many parameters of the production cost having effect on production cost are possible to control through internal management thus improving profits. iv) Important production decisions like make or buy can be taken only after financial implications have been considered. Marketing Finance  œ i) Many aspects of marketing management have financial implications e. g. hold inventories to provide off the shelf service to customers and thus increase sales; extension of credit facility to customers to increase sales. i) Marketing strategies to increase sales have additional cost impact, which needs to be weighed carefully against incremental revenue. Personnel Finance – In the global competitive scenario business firms are moving to leaner and flat organizations. Investments in Human Resource Development are also bound to increase. Restructuring of remuneration structure, voluntary retirement schemes, sweat equity etc. have become major financial decisions in the area of human resource management. Strategic Planning – Finance –Finance function is an important tool in the hands of management for strategic planning and control on two counts – i) The decision variables when converted into monetary terms are easier to grasp. ii) Finance function has s trong inter-linkages with other functions. Controlling other functions through finance route is possible. Methods and Tools of Financial Management – i) In the area of Financing – Funds are procured from long-term sources as well as short-term sources. Long-term funds may be made available by owners, i. e. hareholders, lenders through issue of debentures / bonds, from financial institutions, banks and public at large. Short-term funds may be procured from commercial banks, suppliers of goods, public deposits etc. The finance manager has to decide on optimum capital structure with a view to maximize shareholder’s wealth. Financial leverage or trading on equity is an important method by which return to shareholders can be increased. ii) For evaluating capital expenditure (investment) decisions, a finance manager uses various methods such as average rate of return, payback, internal rate of return, net present value and profitability index. ii) In the area of worki ng capital management there are various methods for efficient utilization of current resources at the disposal of the firm, thus increasing profitability. The centralized method of cash management is considered a better method of managing liquid resources of the firm. iv) In the area of dividend decision, a firm is faced with the problem of declaring dividend or postponing dividend declaration, a problem of internal financing. There are tools to tackle such situation. v) For the evaluation of a firm’s performance there are different methods.For example, ratio analysis is a popular technique to evaluate different aspects of a firm. vi) The main concern of the finance manager is to provide adequate funds from the best possible source, at the right time and the minimum cost and to ensure that the funds so acquired are put to best possible use through various methods / techniques are used to determine that funds have been procured from the best possible available services and the funds have been used in the best possible way: Funds flow and cash flow statements and projected financial statements help a lot in this regard.The changing role of Financial Management in India – Modern Financial Management has come a long way from the traditional corporate finance. The finance Manager is working in a challenging environment, which changes continuously. As the economy is opening up and global resources are being tapped, the opportunities available to finance manager have no limits. At the same time one must understand the risk in the decisions. Financial management is passing through an area of experimentation and excitement, as a large part of the finance activities carried out today were not heard a few years ago.A few instances are enumerated below: – i) Interest rates have been deregulated, further interest rates are fluctuating, and minimum cost of capital necessitates anticipating interest rate movements. ii) Rupee has become freely convertible in current account. iii) Optimum debt equity mix is possible. The firms have to take advantage of the financial leverage to increase the shareholders wealth. However financial leverage entails financial risk. Hence a correct trade off between risk and improved rate of return to shareholders is a challenging task. v) With free pricing of issues, the optimum price of new issue is a challenging task, as overpricing results in under subscription and loss of investor confidence whereas under pricing leads to unwarranted increase in number of shares and also reduction of earnings per share. v) Maintaining share prices is crucial. In the liberalized scenario the capital markets is the important avenue of funds for business. The dividend and bonus policies framed, has a direct bearing on the share prices. i) Ensuring management control is vital especially in the light of foreign participation in equity (which is backed by huge resources) making the firm an easy takeover target. Existing ma nagements may loose control in the eventuality of being unable to take up the share entitlements. Financial strategies to prevent this are vital to the present management. Forms of Business Organization – The three most common forms of business organization are the sole proprietorship, the partnership and the company.Other specialized forms of business organizations also exist. Sole proprietorship are the most In terms of total receipts and net profits corporate form of business dominate. Sole Proprietorship – A sole proprietorship is a business owned by one person who runs for his own profit. Majority of the business firms are sole proprietorships. The typical sole proprietorship is a small business e. g. bakeshop, personal trainer or plumber. The majority of sole proprietorship is found in the wholesale, retail, service and construction industries.Typically, the proprietor along with few employees runs the business. He raises capital from personal resources or by bor rowing and is responsible for all business decisions. The sole proprietor has unlimited liability, towards creditors not restricted to the amount originally invested. The key strengths and weaknesses of sole proprietorship are given in table 1. 3. Partnership – A partnership firm is a business run by two or more persons for profit.Partnership accounts for the next majority of business and they are typically larger than sole proprietorship. Finance, legal and real estate firms often have large number of partners. Most partnerships are established by a written contract known as ‘Deed of Partnership’. In partnership, all partners have unlimited liability for all the debts of the partnership. In India, partnership is governed by the Partnership Act, 1932. Strengths and weaknesses or partnerships are summarized in Table 1. 3. Company Form –A company form of business is a legal entity, separated from the owners, with perpetual succession. Just like an individual , the company can sue and be sued, make and be party to contracts and acquire property in its own name. The company form of organization is the dominant form of business organization in terms of receipts and profits. Although, corporations are involved in all types of business, manufacturing corporation account for the largest portion of corporate business receipts and net profits.The key strengths and weaknesses of corporate form are summarized in Table 1. 3. The owners of the company are its shareholders, whose ownership is evidenced by either common shares or preference shares. Shareholders get a return by receiving dividends i. e. periodic distribution of earnings or gains through increase in share price. Owner’s liability is limited to the amount paid on their shares. Shareholder elects the Board of Directors through vote.The Board of Directors has the ultimate authority in running the organization including making the general policy. The President or Chief Executive Off ice (CEO) is responsible for managing day to day operations and carrying out the policies established by the Board. The CEO is required to report periodically to the firm’s board of directors. The corporate form of business are subject to strict control by Regulatory Agencies including Companies Ac, 1956, SEBI, etc. Table I – Strengths and weaknesses of the common forms of business organizations Sole Proprietorship |Partnership |Company | | | | | |Strengths | | | | | | | |Owners receive all profits and incurs all losses |Can raise more funds than the sole proprietorship |Owners liability is limited to the extent paid on | | |their shares | |Low organizational costs |Borrowing powers enhanced by more owners | | | | |Can achieve large size via sale of shares | | |More available manpower and managerial skill | | |Income is included and taxed on owners personal tax | |Ownership (share) is readily transferable | |return |Income included and mixed on individual partnerâ€⠄¢s tax | | | |return |Long life of the firm | |Independence | | | | | |Can have professional managers | |Secrecy | | | | | |Has better access to financing | |Ease of dissolution | | | | | |Receives some tax advantage | | | | | | | | | |Weaknesses – |Owners have unlimited liability and may have to cover | | | |debts of other partners |Taxes generally higher, because corporate income is | |Owner has unlimited liability towards debt of the firm| |taxed and dividends paid to owners are also taxed. | |Partnership is dissolved when partner dies |(the latter has been exempted at the hands of the | |Limited fund raising power limits growth | |shareholders in India) | | |Difficult to liquidate or transfer partnership | | |Proprietor must be jack-of-all trades | |More expensive to organize than other forms of | | | |business | |Difficult to give employees long-run career | | | |opportunities | |Subject to greater control by regulating authorities | | | | | |Lacks continuity when pro prietor dies or unable to | |Lacks secrecy since the shareholders must receive | |operate | |financial reports at periodic intervals | | | | | Limited Liability Partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability.It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. This is an important difference from that of an unlimited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one â€Å"general partner† with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. In contrast, corporate shareholders have to elect a board of directors under the laws of various state charters.The board organizes it self (also under the laws of the various state charters) and hires corporate officers who then have as â€Å"corporate† individuals the legal responsibility to manage the corporation in the corporation's best interest. An LLP also contains a different level of tax liability from that of a corporation. Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries, the LLP is more suited for businesses where all investors wish to take an active role in management. There is considerable confusion between LLPs as constituted in the U. S. nd that introduced in the UK in 2001 and adopted elsewhere  Ã¢â‚¬â€ see below  Ã¢â‚¬â€ since the UK LLP is, despite the name, specifically legislated as a Corporate body rat her than a Partnership. India The Limited Liability Partnership Act 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with effect from 31 March 2009. However, the Act, has been notified with limited sections only. The rules have been notified in the official gazette on April 1, 2009. The first LLP was incorporated in the first week of April 2009. 1. In India, for all purposes of taxation, an LLP is treated like any other partnership firm. 2. be limited to their agreed contribution in the LLP. 3.Further, no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct. 4. LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20, LLP Act makes a mandatory statement where one of the partner to the LLP should be an Indian. 5. Provisions have been made for corporate actions like mergers, amalgamations etc. 6.While enabling provisions in respect of winding up and dissolutions of LLPs have been made, detailed provisions in this regard would be provided by way of rules under the Act. 7. The Act also provides for conversion of existing partnership firm, private limited company and unlisted public company into a LLP by registering the same with the Registrar of Companies (ROC) 8. Nothing Contained in the Partnership Act 1932 shall effect an LLP. 9. The Registrar of Companies (Roc) shall register and control LLPs also. 10. The governance of LLPs shall be in electronic mode based on the successful model of the present Ministry of Corporate Affairs Portal. Chapter Assignments – 1. What are the tasks of Financial Management? 2. Discuss the salient features of the traditional approach to Corporation Finance. 3.Discuss the distinctive features of modern approach to Corporation Finance. 4. What is the normative goal of financial management? 5. â€Å"Financial Management is an integral part of the jobs of all managers. Hence it cannot be entrusted to a staff Department†. Discuss. 6. Discuss some of the problems the financial managers in a developing country like India have to grapple with. 7. Draw a typical organization chart highlighting the finance function of a company. 8. Which of the following functions should be the responsibility of a Finance Manager? i) Maintaining the books of account. ii) Negotiating loans with banks iii) Preparation of cost statements iv) Conducting of internal audit v) Analysis of new projects i) Ensuring that enough cash is available at all the branches and factories of the company. vii) Assisting the management in taking a decision regarding the quantum of dividend. viii) Negotiating under-writing agreements in case of new issues ix) Preparing the financial statements. x) Deciding about change in the policies regarding recruitment. xi) Decision on administrative practices. xii) Change in marketing and advertising techniques routine. 9. Which of the following statements are true? i) It is the job of the finance manager to approve all payments. ii) The finance manager has to keep a proper balance in the procurement and use of funds. iii) Acquisition of fixed assets is of no concern to the finance manager. v) It is always advisable to distribute the total amount of profit as dividend. v) Since it is crucial that all sections of the business have adequate cash, it is a good policy to give each sections of the business double the amount of cash that they normally require so that they can meet even emergencies. vi) Debentures and loans from financial institutions are very important sources of long-term fund s. vii) It is better if no credits are given to the customers since this would mean that no amounts are tied up in sundry creditors. viii) In a period of rising prices, it is better to stock as much as raw material as possible, irrespective of the cost of procuring funds. x) A proper capitalization ensures that there is a balance between long-term funds and short-term funds and also proper ratios are maintained between the various sources of funds. 10. Which of the following statements do you agree? i) Financial management is essential only in private sector enterprise. ii) Only capitalists have to bother about money. The bureaucrat is to administer and not manage funds. iii) The public administrators in our country must be given a basic understanding of essentials of finance. iv) A state owned Transport Company must immediately deposit in the bank all its takings. v) â€Å"Financial Management is counting pennies. We do not believe in such miserly attitude†. vi) â€Å"Finan ce function is important as any other function in an organization†.