Response paper to peter brooks' reading for the plot, and one of Essay

Response paper to peter brooks' reading for the plot, and one of freud's most famous - Essay Example on the "temporal sequence and progression" (xi) of a narrative through the plot, which spurs the movement in the narrative and makes the readers continue to the next page. Brooks gave importance to the middle of the narrative, which instead of being boring and tedious to read becomes â€Å"a highly charged field of force† (xiv) through the use of hermeneutic and proairetic codes to generate suspense, excitement, and a sense of mystery. He further went on to stress the significance of the use of metaphors and metonymy as figures of speech that can make the narrative more lively and creative. Peter Brooks’ technique of giving importance to the plot and its twists through the manipulation of the hermeneutic and proairetic codes is a good way of making a narrative more exciting. The hermeneutic code’s â€Å"function [it] is to articulate in various ways a question, its response, and the variety of chance events which can either formulate the question or delay its answer; or even, constitute an enigma and lead to its solution† (Allen 86) while the proairetic code refers to â€Å"the other major structuring principle that builds interest or suspense on the part of a reader or viewer† (Felluga). Brooks further states that the plot is â€Å"an overcoding of the proairetic by the hermeneutic, the latter structuring the discrete elements of the former into larger interpretive wholes, working out their play of meaning and significance† (18). In other words, the way certain events and actions remain unexplained exudes a sense of mystery and suspe nse that make the readers want to read more until the plot is resolved at the end. Instead of focusing on the structure of narratives, like Barthes did, Brooks found a way to concentrate on how to make the plot and the middle part of the book exciting. In short, the whole narrative is made more compelling and gripping that will certainly have the readers hooked. Brooks diverted the focal point from the structure of the narrative to

Global Marketing Research Paper Example | Topics and Well Written Essays - 500 words

Global Marketing - Research Paper Example The disposable of waste in the two nations varies hence the preference of the diapers may vary between America and Brazil. US citizens are sensitive to a green environment compared to the Brazilians. Additionally, the market of disposable diapers in Brazil is not vibrant like the US disposable diaper market. The promotion of diapers made in the US rate responsible for the high portion of per capita income spent on the disposable diapers. The US is also sensitive to the welfare of children hence the need for good care for all children. Conversely, the Brazilians are not sensitive to the plight of their children with regard to hygiene and sanitation. The increase in the birth rate in America is another factor, which makes the American market for disposable diapers vibrant. For instance, the 4.5M children are born in the US on an annual basis. This implies that the disposable diaper market must meet the needs of the growing population of children in the US. Additionally, more than 3M people turn 65 years old on annual basis. This implies that the demand for disposable for children and old aged adults is high in the American population. Disposable diapers pricing should not be left to the local managers of Brazil because the market for disposable diapers in Brazil is small. Additionally, of the product should be left to the head office to ensure consistency and compliance to market standards. Pricing of the disposable diapers should coincide with the global trend of the product demand and supply (Nonwovens markets and fiber structures report, 2009). Therefore, the move of leaving pricing to the local managers is not prudent. Moreover, the local cartels are likely to take advantage of decentralization of pricing, which will negatively affect the customer disposable diaper loyalty. The other reason for adoption of global pricing of the disposable diapers is the need for

Relationship Between Gender And Crime

Relationship Between Gender And Crime Its often thought that when females commit a crime they are often given a lesser sentence than if they were a male and that more males commit crimes than compared to females. It is also often thought by females that feminists if tried by a male may get longer than they should because of what they stand for. This can also apply when the situation is turned around where the male is standing up for what they believe in. Most people believe that the only reason females commit a crime is to provide for her family and make sure her children are brought up in a stable environment. On the other hand females are portrayed are the people that are more likely to shoplift and other crime that are unlikely to be noticed. The work carried out on the area of females and crime is very limited as there are fewer reports. 1. Gender and Patterns of crime. Carol Smart has given a number of reasons as to why she thinks crime rates for females are neglected. Carol Smart indicates that because females commit so few crimes they as not seen as much of a threat as males are because they commit more serious crimes therefore females are considered to be less of a threat to society. She also says that in both sociology and criminology professions there are more males employed than women therefore more studies have been on a males state of mind for crime instead of womens state of mind. Also criminology is stimulated by a desire to control, behaviour that is regarded as challenging. Females have been seen as less problematic then men so they are given less attention for the crimes they have committed. Carol Smart has quoted judges who are being biased against females: It is well known that women in particular and small boys are likely to be untruthful and invent stories (Judge Sutcliffe 1976) how would the female fell in this case? She would fell like it was her fault like he had committed a crime. She also asks three very interesting questions about females and what crimes the commit and why they do: Do females really commit fewer crimes then males, or are the figures misleading? Some Sociologists have suggested that females offences are constantly under-recorded by the authorities Although females continue to commit comparatively few crimes, some people have suggested that the proportion of crimes committed by females has been increasing. According to a number of commentators this alleged increase has resulted from Womens Liberation. Is this so? Why do females who break the law commit crimes?. 2. Official Statistics, Criminality and Gender. Otto Pollak helps explain the answers to the above questions. He has looked at the figures of crimes committed by females over different countries so it is not as accurate as it would be if the U.K statistics were used.  Pollak insists that the official figures are very vague level of female criminality. He further indicates that he thinks that a large amount of petty theft crimes are committed by females, and the asserted that such crimes that were improbable of coming to the awareness of the system.  Many unreported crimes were committed by  female household servants. Otto Pollak also insinuated that a females household roles gave them a considerable opportunity to commit such crimes like Poisoning Loved ones and sexually abusing their children. The police, Magistrates and other law enforcement officials have a tendency to be male. Raised to be courteous, and are usually compassionate towards female offenders so that smaller quantity of females becomes apparent in the statistics. 3. Criticism of Otto Pollak Frances Heidensohn used the statistics for the U.K to point out the major flaws in Otto Pollaks argument. Frances Heidensohn point out flaws in the statements above with his research. Most shoplift is actually done by middle ages males rather than females. That the time Pollak was writing there was a cut in the number of female household Servants. Heidensohn draws awareness to the quantity of crimes performed against prostitutes by male clients, and the occurrence of male crimes in domestic life, all the evidence point towards males being significantly more likely than a female to commit aggressive and sexual offence in the solitude of their own home. Otto Pollaks statistical study is based on insignificant data and unconfirmed statements. Heidensohn notes that the disguise of menstruation is by no means collective and changed sexual society have long since made gibberish of his view of passive, friendly females threatening revenge. 4. Evidence against the Chivalry Thesis Steven box has re-examined the statistics from self-report studies in Britain and the USA. A few of these studies show some compassion regarding females, the greater part do not. The Mass of verification on females committing serious offences does not give obvious foundation to view that they get given a degree of difference and more positive conduct from members of the community, police and judges. Abigail Buckle and David P. Farrington preformed a small-scaled surveillance study of shoplifting in a British department store in southwest England in 1981. Shoplifting is one crime where the female offenders nearly match the male offenders in the official statistics. This study found that two point eight percent of the one hundred and forty-two males observed shoplifted but only one point four percent of the three hundred and sixty-one females shoplifted. Evidently this study uses far too small a sample to get an accurate assumption, but as one of the very few attempts to measure crime precisely it does prove some evidence against the Chivalry Thesis. In 1983 David P. Farrington and Allison Morris conducted a study off sentencing in magistrate courts. They started out by noting the some official figures did imply more compassion towards females. E.g. In 1979 six point six percent of males were found guilty of indictable where as only two percent of females were convicted. Farrington and Morris examined data in sentencing for four hundred and eight offences of theft in Cambridge in the same year. Some one hundred and ten of these offences were committed by females. Although males receive more severe sentences than females, the study found that the differences disappeared when the harshness of offences was taken into account. Farrington and Morris came to the conclusion that there was no self-sufficient effect of sex on sentencing seriousness. Roger Hood on the West midlands in 1989 carried out a more recent study the used a sample of two thousand eight hundred and eighty-four male and four hundred and thirty-three female defendants in crown courts. Hood compared the sentencing of males and females, controlling for variables which he had found affected the sentencing of men. He found that white women were give custodial sentences thirty-four percent less often than men in similar cases and black women thirty-seven percent less often. 5. Female Crime and Womens Liberation. Freda Adler claimed that womens liberation had shown the way to a modern form of female criminal and has amplified females involvement in crime. Freda also thinks that the biological theories are not precise and she believes that is has nothing to do with a females hormones, aggression and criminality. In the USA between 1960 and 1972 robberies by females went up by two hundred and seventy-seven percent males by only one hundred and sixty-nine percent. Embezzlement by females rose by two hundred and eighty percent in the same period of time, whereas for males it rose by as little as fifty percent. Overall arrests rates for females rose three times as fast as those for males and particularly among female delinquents. Why then were women becoming so much more involved in crime? Adler believed the main reason was that females were taking on male social roles in both legitimate and illegitimate areas of performance. She stressed the pace and extent of change saying: there is a tide in the affairs of females as well as males, and in the last decade it had been sweeping over barriers which have protected male prerogatives and eroding the conventional differences which once nicely defined the gender roles. Adlers views proved to be very contentious, for the most part as they could be used to imply that the womans liberation was a bad thing. They replicated Substantial research into the question on whether female crime is increasing or not. Adler is relying on statistics which are clearly unreliable as they are not recorded properly as stated earlier by Carol Smart and Frances Heidensohn. They believe that that system is too soft on females and that they are more likely to get away with petty crimes than males are. Sources Smart, C. Women, Crime and Criminology 1976 Pollak, O. The Criminality of women 1950 Heidensohn, F. Women and Crime 1985 Box, S. Recession, Crime and punishment 1987 Adler, F. Sisters in crime 1975

Huckleberry Finn: A Trip :: essays research papers

A Trip Within’ The Heart Of A Colorless Boy   Ã‚  Ã‚  Ã‚  Ã‚  In Mark Twain’s Adventures of Huckleberry Finn, the main characters take a trip within the heart, not just a trip down the Mississippi River. Throughout the trip down the Mississippi River, Huckleberry Finn’s, a homeless waif, thoughts about racism change from a racist unwanted boy to a true human being with a sense of his own destiny. Throughout the novel, Huck narrates his adventure and thoughts upon racism and inequality between “niggers'; and whites. Huck and “nigger'; Jim, runaway slave, float down the Mississippi River as unequal individuals, but towards the end of the novel Huck distinguishes that even African-Americans are as equal as white human beings.   Ã‚  Ã‚  Ã‚  Ã‚  Huck never respects the “niggers,'; especially Jim since Huck and Tom Sawyer, a romanticized friend, continuously play tricks on Jim so they can feel superior to the “black'; race. Even though Huck escapes society and his abusive father, Pap Finn, he continues to play tricks on Jim, since Jim ran away from slavery. For example, when Jim explains that he ran off Huck disapproves but promises not to turn him in even though “people would call [him] a low-down Abolitionist'; (50). This demonstrates that Huck is a kind trustworthy racist boy; however, Huck’s superstitious character “curled [a rattlesnake] up on the foot of Jim’s blanket'; as a joke, although in the night the rattlesnake’s mate bit Jim (59). In addition, Huck “warn’t going to let Jim find out it was [his] fault'; nor apologize because he did not want to feel low to a “nigger'; (59). This incident demonstrates that Huck still views himself as su perior to Jim because of his skin color. At this point of the novel, Huck is helping Jim escape which makes him feel low down to civilization; however, he continues to trick Jim so he can be better quality. Huck maintains to treat Jim with little respect and even though he suffers for the trick, he never apologizes to Jim.   Ã‚  Ã‚  Ã‚  Ã‚  As they progress down the river, Huck begins to realize the true character of Jim as an equal man with greatness and kindness in his heart. During their ride down the river Huck decides to play another trick on the so-called unintelligent Jim. The final trick Huck plays on Jim while they are in the fog is making Jim believe that everything that has happened in the storm after they broke-off from each other only occurred in Jim’s mind.

The Company Man

Ellen Goodman’s attitude toward Phil in her column, The Company Man, comes off as a bit mocking. The use of repetition allows her to clarify her tone toward Phil even further. She conveys this attitude specifically when she uses quotations and explanations of his family members.Goodman’s constant repetition of the phrase, â€Å"He worked himself to death, finally and precisely at 3am Sunday morning,† implies her sarcastic attitude which is apparent throughout the piece. What she is trying to say is that all of the hard work he did was for nothing because he ended up dying and was totally replaceable. She clarifies her sarcastic tone in line 77 where she not only repeats he quote, â€Å"He worked himself to death at precisely 3am,† but adds â€Å"no one was really surprised.† This is saying how everybody had an idea and definitely knew that he was literally working himself to death. The worst part was that in the end it was all for nothing.Philâ€⠄¢s â€Å"survivors† consisted of his wife and three children. The eldest of his children asked the neighbors about his father and what he was like. The author uses this to imply how Phil was never there for his children because his father was always working. Another example of how Goodman exemplifies this is when she writes, â€Å"†¦but whenever she was alone with her father, in a car driving somewhere, they had nothing to say to each other. This shows how since he was never there, they didn’t really have much to bond over or talk about.Ellen Goodman mocks Phil by using dialogues of his family members and also by the use of repetition to express her attitude and tone. Her overall argument is that you should enjoy your family instead of working, literally, to death, for you never know when it might be too late. In Phil’s case, he died without achieving his desired results, which were to finally become president of his company. Goodman finally ends her colu mn with the dialogue of the company’s president, asking the workers, â€Å"Who’s been working the hardest?† a perfectly ironic closing, showing readers that Phil essentially died to make some other workaholics dreams come true.

Art Industry Issue Essay

Graffiti originated in New York in the late 1970s. It started off with locals writing their names on walls and subway train just for fame. Before and after that though there were other types of graffiti such as political statements. Graffiti these days is mostly â€Å"tagging† which is the act of marking a surface with a quick scrawl, stencils are common in the city and large aerosol pieces are usually found alongside train lines. The main issue dealing with graffiti these days is how to prevent it. At the same time there are parties that argue we need graffiti and it is an important form of art. Most people trying to prevent graffiti are usually only against the art being produced illegally, that is on private property without permission of the owner. The main argument against graffiti is that it is mainly tagging and it has no brains behind it all. None of it has any meaning. It is so called art that is only for the hip-hop community. The tags make everything look disgusting because it is messy and unreadable. It gives the impression that the councils do not care. It costs around $200,000 a year to remove from walls and public transport, this money could be better spent. Graffiti is a crime and attracts more crime and gangs. Owners that have had their property vandilised by graffiti artists would want to move some where else. Graffiti on shop windows is bad business. There have been a range of ideas presented to support graffiti in a good way and prevent it from occurring illegally. Ideas already in practice are Designating â€Å"high tolerance zones† in lanes in Melbourne CBD (Central Business District), such as Hosier Lane. The purpose of high tolerance zones is to keep graffiti on the streets and not remove it. Artists will be attracted to use the lane to exhibit their art instead of commercial and public buildings. ?Legal murals have been encouraged by councils. This aims keep people interested in the graffiti style of art but on a legal level. ?Exhibitions are held frequently at places such as Kent Street Cafe’s Early Space and the Meatmarket that show graffiti related art work and art done by present and former graffiti artist. Artwork on exhibition is hardly ever tagging, but other forms of graffiti such a stencils, stickers, posters and aerosol pieces. This is aiming to move graffiti art from a street level to a professional level that can be used in the art industry. Councils aim to remove fresh graffiti from public transport within 24 hours. This aims to lower vandals moral and send the message that what they do will not stay so there is no point in doing it. Debates on whether or not graffiti is an actual art and what to do to prevent arise in newspapers. In articles such as Graffiti Crimes from The Age (Melbourne) magazine and Graffiti Plan Ridiculous from the MX paper the writers have very aggressive and unfriendly tones. In Graffiti Plan Ridiculous the writer is actually attacking a writer of a previous letter that suggested everyone entering the CBD must show ID and proof of address. The idea goes with out saying that is ridiculous. There was really no need to lunch an attack just for suggesting it. This shows that tempers are wearing thin on the issue and it is creating a lot of hostility. The article A Display Of Culture by Renae Payne shows the contention of graffiti artists that consider the art as an important part of youth and hip-hop culture. All the artists are in favor of getting legal support from councils. PERSONAL OPINION ? James Borg I think that graffiti is an art, always has been and always will be. The same can be argued about Marcel Duchamp’s Urinal as it is not a traditional form of art and can be seen as an insult. If a urinal or scribble on a wall can be art then any thing can be art. Something becomes art when it is taken out of context. In the case of graffiti, in all its forms, text and images that are made to be contained on paper and private places are put onto public surfaces. Just because I think graffiti is a form of art does not mean it is not ugly. I think some art in galleries can be very ugly, just because I don’t like the look of it doesn’t mean everyone does not like it. I have very high expectations of graffiti art. The placement of graffiti art is crucial. The high-tolerance zones are a good idea because all the good art is concentrated in one spot, any one can add their own work to it and no one gets in trouble. Legal murals everywhere are the best because the graffiti does not have to be secluded to a small lane and it encourages more legal murals. Legal murals hardly get vandalised. Illegal graffiti in certain areas definitely destroys the area in a lot of ways. If a wall gets crowded with graffiti it will attract more graffiti, some times of much lower quality. Some times better artists will add their work. Either way the public do not want to see it. I can not say I would like or not. If it were just tags I wouldn’t, depends on what it looks like. Fences that run parallel with train lines are constantly being graffitied. Artists want their work on these walls because people hundreds of people catch the train everyday and see their work. If these walls were legalised the amount of illegal graffiti would probably be reduced by more than half. There are a lot of already legal walls on the train line and most of the time artists ask the owner if their wall can be painted. This should be encouraged. I like the whole style of the graffiti pieces and the elements used. I am not concerned about trying to get illegal graffiti recognised as a professional art form in the industry. Graffiti was meant to be illegal, that’s the whole point of it. Illegal work will never be appreciated totally by critics because there are too many negatives. Art works in galleries that are based on graffiti might look good but technically it is not graffiti. I will support it as long as it stays creative. I have pretty much grown out of liking graffiti anyway because it is all the same really. I realised that it does more harm than good and it has lost its meaning, even though it started off putting a name up for fame. Stencil art is good but a lot of it lacks skill and originality. The only way illegal graffiti artists will get properly recognised is by doing legal work.

Creating Characters That Readers Love

Creating Characters That Readers Love Long after youve read a good novel, the individual scenes might fade in your memory but the characters will stay with you for much longer if the author did his or her job correctly. In fact, this is one of the necessary things that makes a good novel- characters that are immortal in the readers memory. It is only through these immortal characters (think: Scarlett OHara, Don Corleone) that the novels, themselves, become immortal. They are the lifeblood of the work and without them, it would not have achieved nearly the same level of success as it did with them.So how does a writer create characters that readers love? Well, it isnt easy. A character that remains immortal in the mind of the reader is likely a product of a lot of work on the authors end to make that character what he or she is. Just as with outlining the plot of the novel, outlining a character takes considerable time and thought. If you want the same for the characters of your novel- particularly the protagonist, try fo llowing these steps.Give them idiosyncrasiesLets face it- all people have idiosyncrasies. Sometimes it takes really getting to know an individual before we discover what those idiosyncrasies are, but then again, sometimes even the casual onlooker can see them. These can be anything from a nervous tic, to a strange gait, to eating habits that range from overly compulsive to simply bizarre. Having idiosyncrasies is what makes us human. It gives us uniqueness and distinguishes us from others. The exact same effect occurs when you give your characters idiosyncrasies.One good way to do this is to take a few hours to observe others closely. It might be friends or co-workers or family members, but observe them for a while to see their idiosyncrasies. If you are observing someone you know well, then you probably already know many of these. However, close observation is always a good tool to discover more. Watch how they walk, how they move their hands when they speak, how they respond to no ises or how they react when angry or startled. Make notes about these traits and use them (or versions of them) for your characters.Give them hopes and fearsGiving your character hopes and fears is yet another facet to making them seem real. There are several ways to do this, but most of the time, authors use an interior monologue through which the character reveals them to us. This can be done through memories of childhood, reactions to events that take place in the story, or even through the characters own dialogue.Giving your characters distinct hopes and fears has another benefit- it allows you to make the plot more intricate and deepen characterization. For example, imagine a scene in which a particular character faces something he has feared since childhood. You can use interior monologue combined with external dialogue to incorporate dramatic irony as a literary device: the character might be reacting one way outwardly while thinking something entirely different inwardly. Thi s setup has multiple benefits, including revealing your characters fears- the fears that he or she keeps hidden from the rest of the world, even hidden from the other characters. This simple step gives your reader the feeling that they really know this character; they understand because they, too, have fears that they hide from others. And thats exactly what you want to achieve if you want the character to stand out in the readers mind.Make them larger than lifeYour characters (at least your main ones) should be larger than life. They can be regular, average Joes but they need to do something that is extraordinary. When someone picks up a novel to read, they do it to escape- escape their everyday life and the mundane, escape a world that is ordinary. Very few authors have managed to write bestselling fiction with characters that fail to do anything extraordinary. It is this element of the extraordinary that makes the novel such a great escape to the reader.Give them historyOur uniqu e histories are a large part of what makes us who we are. In the same sense, giving your characters history will add depth, making the character seem more real in the process. This history should be first created when you are outlining your characters, but can be fine-tuned and reworked as you progress in your writing. Intertwining characters histories is also a great way to add depth to your characters and plot, making it more complex and interesting.Give them flawsOne of the most fascinating parts of a heros story is revealing his tragic flaw(s). Through this, the character becomes more real, because humans are indeed flawed. Think of it like this: people who seem to be perfect are usually quite boring. It is the imperfection of others that attracts us to them, and their quirks make them more appealing. The same is true for your characters. Let them be messy or disorganized, let them have a temper, let them have insecurities, or let them be haunted by a mistake they made in their past that has had repercussions on their lives- even your protagonist. These traits will give them depth and make them more interesting in the process. Most especially, these traits will help readers identify with your characters, which is exactly what you want to happen if you intend to write bestselling fiction.

What are the key features of Cognitive Behavioural Therapy Essay Example

What are the key features of Cognitive Behavioural Therapy Essay Example What are the key features of Cognitive Behavioural Therapy Paper What are the key features of Cognitive Behavioural Therapy Paper In the first century AD, the Stoic philosopher Epictetus observed that people are not disturbed by the events that happen, more so by the view that they take of them (Woolfe and Dryden, 1996). The view a person takes of an event depends on their chosen orientation, and their orientation is influenced by their beliefs about their self in relation to the world (Woolfe and Dryden, 1996). This is the theoretical origin of contemporary Cognitive Behavioural Therapy, one of the major orientations of psychotherapy deriving from cognitive and behavioural psychological models of human behaviour (Grazebrook and Garland, 2005). The earlier of the two approaches was behaviourism, created by JB Watson in 1919 when academic psychology was in its infancy. Watson believed psychology need only concern itself with overtly observable phenomena, not invisible thoughts and images (McLeod, 2003). One of the primary theories pioneered by behaviourists such as Skinner, Watson, Pavlov, Tolman and Thorndike was that all behaviour and beliefs must be learned, and controlled laboratory experiments proceeded to discover how they were learned (McLeod, 2003). Pavlovs (1927) Classical Conditioning model and Skinners (1938) Operant model of learning (Gross, 2005) were the first attempts made to turn behaviourism into therapy and provided the rationale for the Systematic Desensitisation Technique (McLeod, 2003) devised by Wolpe in 1958 (Gross, 2005). However, Tolman (1948) ran a series of experiments with laboratory rats and a maze, which led him to believe they had created a mental map of the maze introducing the study of internal mental events (or cognitions) to behaviourism (Gross, 2005). This new interest in cognition eventually led to the cognitive revolution and the limitations of the stimulus response analysis of human behaviour had in effect been reversed as the fixation of the introspectionists with inner, mental events or cognitions returned to govern psychology once again. This time however, allied to more sophisticated research methods than naive introspection (McLeod, 2003). During the 1960s and 1970s, two pioneering psychologists of psychoanalytic background, Ellis and Beck (respectively) became increasingly aware of the importance in the way the clients though about themselves. Ellis had evolved a more active style of therapy than the associated Cognitive therapy, which over time was renamed several times, but most recently known as Rational Emotive Behaviour Therapy (REBT). High levels of challenge and confrontation during therapy enabled the client to scrutinise their irrational beliefs or crooked thinking, which Ellis believed stemmed from seeing life in terms of musts or shoulds which he claimed were invariably exaggerated or overstated and the cause of most emotional problems (McLeod, 2003). Elliss (1962) ABC model of human disturbance has made a great impact on the progress and current popularity of cognitive-behaviour therapy (De Bernardi and Wirga, date not known). The A stands for the Actualising event. C stands for the emotional or behavioural consequence and between A and C comes B, the beliefs about the event. Events and the emotional consequences are determined by the belief about the event rather than the actual event (McLeod, 2003). Beck (1976) in his story of his conversion to cognitive therapy explained how after years of working in the psychoanalytic tradition, he was struck by the impact of the patients cognition on his feelings and behaviour. His theory postulates that incorrect habits of interpreting and processing date are learned during cognitive development. The basic concepts of cognitive therapy are fundamentals of contemporary CBT. The first of these concepts is that of schemas, cognitive structures of peoples fundamental beliefs and assumptions which can be adaptive of maladaptive (Nelson-Jones, 2006). Second are Modes, networks of cognition that interpret and adapt to ongoing situations (Beck and Weishaar, 2005). Another is that of cognitive vulnerability, humans cognitive frailty unique to each individual and based upon their schemas (Nelson-Jones, 2006). Dysfunctional beliefs embedded in to schemas contribute to another basic concept called cognitive distortion (Nelson-Jones, 2006). Becks Cognitive Distortion Model (1976) is the best known model of cognitive processing used by cognitive behavioural therapists. Perceptions of events become highly selective, egocentric and rigid when they perceive a situation as threatening causing impairment to the function of normal cognitive processing (McLeod, 2003). .Beck (1976) identified many different kinds of cognitive distortion including; arbitrary inference, selective abstraction, overgeneralisation, magnification, minimisation and personalisation (McLeod, 2003). Beck described self critical cognitions as automatic thoughts, one of the keys to successful therapy. Automatic thoughts reflect schema content, deeper beliefs and assumptions which are less accessible to awareness (Nelson-Jones, 2006). Acquisition of schemas, automatic thoughts and cognitive distortions and the associated vulnerability to psychological distress, is the result of many factors such as; evolutionary, biological developmental and environmental. Many of these are common across individuals, however, each person has their own unique variations (Nelson-Jones, 2006). The therapeutic goals of cognitive therapy are to re-energise the reality testing system (Nelson-Jones, 2006). Also, to teach the client adaptive meta-cognition, which is the ability to change oneself and environment in order achieve therapeutic change (McLeod, 2003). This concept is central to the work of Ellis and Beck and has been widely researched in developmental psychology. Another therapeutic goal in cognitive psychology is to enable the client to become their own therapist, by providing skills for problem solving for example. Ellis (1962) and Beck (1976) led the way for many other clinicians and writers within the cognitive behavioural paradigm to further develop this (historically, most recent) approach to counselling with yearly contributions of new ideas and techniques being added (Dryden and Golden, 1986: Dryden and Trower, 1988; Dobson, 1988, Freeman et al, 1989). The term Cognitive Behavioural Therapy (CBT) is now used to refer to behaviour therapy, cognitive therapy and to any therapy based upon the pragmatic amalgamation of the ideology of both cognitive and behavioural theories (Grazebrook and Garland, 2005). There are many facets to contemporary CBT as a result of the previously mentioned mass of regular contributions of new ideas and theories. There are however some key features comprehensively laid out by Grazebook and Garland (2005) as follows. CBT is based on scientific principles which research has proven effective for a wide variety of psychological disorders. A therapeutic alliance is formed between the client and counsellor to gain a shared view of problems in relation to the clients thoughts, feelings and behaviour, usually in relation to the here and now. This usually leads to the agreement of personalised and time limited therapy goals and strategies which the counsellor will continually monitor and evaluate with the client. The outcome of therapy is to focus on specific psychological and practical skills, through reflection and exploration of the meaning attributed to events and situations, and the re-evaluation of those meanings. The treatments are intrinsically empowering, aimed at enabling the client to tackle their problems by employing their own resources. Acquiring and using such skills is seen as the main target, the active component being promotion of change, in particular using homework to put what has been learned into practice between sessions. The client will hopefully accredit the improvement in their problems to their own efforts, with their alliance with the counsellor (Grazebook and Garland, 2005). One of the main differences between CBT and person centred therapy (PCT) is the therapeutic relationship between counsellor and client, which in cognitive behavioural therapy is characterised more as a psycho-educational rather than a medical one (McLeod, 2003). Less attention is paid to the quality of the relationship than to the technical aspects of the therapy although it is not believed to be unimportant. In CBT its is taken for granted that the relationship is necessary, Beck et al (1979) did stress the importance of warmth, accurate empathy and genuineness, but it is not believed to be sufficient to provide therapeutic change (Woolfe and Dryden, 1996) as professed by Rogers (1957) in his proposal of the six necessary and sufficient conditions for therapeutic change. In CBT there is a Therapist Client Rating Scale (Bennun et al, 1986) where the client can rate the therapist on three factors, positive regard/interest, activity/guidance, and competency/interest. The positive regard is one of Carl Rogers conditions, however, Rogers believed that the clients self-concept was affected by a lack of unconditional acceptance in life. The crucial aspect of UPR in person centred therapy is that the client more explore and express freely, without feeling they must do anything in particular to meet any specific standards of behaviour to earn positive regard from the therapist (Mulhauser, 2007), however, CBT is less concerned with insight and relinquishes the endless search for past hurts and teaches the client how to prevent negative thoughts from creeping into their minds (Langerth, 2007) through set tasks, agendas, and homework assignments (Nelson-Jones, 2006), Another difference between the two approaches is the lesser appreciation of the impact that the counsellors self has on therapy, and cognitive behavioural therapists are not expected to undergo personal therapy, even though the approach allows confrontation and challenging of the client (McLeod. 2006). The basic tenet of the CBT approach is to change the clients thinking which results in a change of behaviour and feelings, when this is directed by the therapist rather than self-directed (as in PCT) there are recurring themes in CBT of management, control and monitoring, particularly from the behavioural origins emphasising operant and classic conditioning (McLeod. 2006). An important task for early behaviourists was to discover how behaviour is learned. McLeod (2005) suggests that this might be due to the coinciding growth of the American advertising industry and the consequent need to control and manipulate consumer behaviour. Interestingly, Watson himself left his academic life to become an advertising executive (McLeod, 2003). In contrast, person centred therapy notes from the outset that the client is their own best authority the focus of PCT is always on the clients own feelings and thoughts, as opposed to judgement by the counsellor through diagnosis or categorisation (Mulhauser, 2007) such as Persons (1993) conceptualisation involves the counsellor devising a mini-theory of the clients problems (McLeod,2003). PCT typically does not give advice or interpretations as Rogers believed that people are trustworthy with a great potential for self awareness and self-directed growth (Cooper, 2007). Ellis (1973) actually claimed that there were virtually no legitimate reasons for a client to be upset, emotionally disturbed or hysterical, regardless of any psychological or verbal stimuli impinged on them. The implications for the therapeutic relationship when the counsellor believes the client is irrational might be considered concerning, by person centred counsellors or theorists who encourage clients to encounter themselves and become more intimate with their own thoughts, feelings and meanings (Mulhauser, 2007). Person centred counsellors aim to help the client develop a framework for understanding life, rather than aiming to fix people like Ellis implies (McLeod, 2006). The efficacy of CBT is a further contrasting aspect, as the approach prides itself on how its effectiveness is amply confirmed in research literature (McLeod, 2006). The philosophy of the Scientist-Practitioner model (Barlow et al, 1984) stresses therapists should integrate ideas of science with their practice, which through a wide array of techniques will provide counsellors with a rewarding sense of competence and potency (McLeod, 2003). CBT maintains a healthy respect for the value of research as means of improving practice, enabling practitioners to be critical and questioning, learning constructively from their colleagues (Woolfe and Dryden, 1996). Person centred therapy however has a developed a reputation for being research aversive and counsellors steer from using evaluation tools on their clients or categorising them by predefined diagnostic measures. The NICE guidelines for mental health and behavioural conditions also indicate little evidence of controlled research on person centred therapy (Cooper, 2007). Cognitive behavioural therapy is brief and time limited, structured and directive in form, whereas person centred therapy is long term, non-directive and the client is the expert. CBT is problem/solution orientation and based on an educational model where homework is the central feature. PCT could be considered simply problem focused, based on feelings and emotions rather than thoughts and behaviour. A sound therapeutic method is necessary but not entirely sufficient in CBT, in contrast to Rogers claim of the relationship and unconditional positive regard being sufficient to provide therapeutic change. The Socratic method of questioning is a key feature of both CBT and PCT, using guided questioning to promote a change in self perception in order to achieve what is after all the main aim of both approaches to make the clients life happier and more satisfying.

The Subjunctive in German

The Subjunctive in German Konjunktiv I und II The German subjunctive mood (der Konjunktiv) comes in two varieties: (1) Subjunctive I (present subjunctive) and (2) Subjunctive II (past subjunctive). Despite their nicknames, it is important to understand that the subjunctive (in English or German) is a verb mood, not a verb tense. Both the so-called past and present subjunctive forms can be used in various tenses in German. What Is the Konjunktiv? What does the subjunctive actually do? Youll find subjunctive verb forms and expressions in almost any language, including English and German. The subjunctive mood is designed to convey a message. The message can vary, but the subjunctive is telling you that a statement is not just a plain fact (the indicative mood), that there may be some doubt, or something is contrary to reality. In English, when we say, If I were you... the verb form were is subjunctive and it conveys a message: I am not you, but... (The indicative form would be the rather unlikely I am you.) Other examples of the subjunctive in English: If we only had the money, we could...That would be a crazy thing to do.God save the Queen!They insist that she go.Be that as it may.He said he would not do that. Notice that in the examples above the words would and could often turn up. Its the same in German. In all of the examples given, the verb takes on an unusual form, different from the normal conjugation. Its the same in German. For instance, the indicative (normal) form would be God saves rather than God save. Instead of indicative she goes, we see she go in the subjunctive. In German, the Konjunktiv is also formed by altering the verb conjugation in some way. Which of the two subjunctive forms is more important for students learning German? Both of course! But the Subjunctive II is used more in conversational German than Subjunctive I. In fact, the past subjunctive is very common in daily German. It is found in many common expressions (ich mà ¶chte..., I would like...) and is used to express doubt or politeness. But well discuss all that when we get to the Subjunctive II lesson. Lets start with number one, the somewhat easier Subjunctive I. Konjunktiv I - The Quotative - Present Subjunctive In general, the Subjunctive I (present subjunctive) is used mostly for the so-called quotative or indirect speech (indirekte  Rede). It is heard or seen less and less frequently in modern German, with the important exception of news stories on radio and TV and in the newspaper. Sometimes the Subjunctive II is also used for indirect speech, usually when the Subjunctive I form is not obviously different from the indicative form. Recognize It When You See It! Since the Subjunctive I is encountered primarily in a passive way - in print or in TV/radio news, it is not necessary for most German-learners to learn how to produce it. It is more important to recognize it when you see it or hear it  because the subjunctive is sending a message you need to understand. What message? Generally the  Konjunktiv I  is telling you that someone said something that may or may not be true. For instance, in a news feature a newspaper may report what someone said, using the Subjunctive I: Der Nachbar  sagte, die Dame  lebe  schon  lnger  im  Dorf. The normal present tense conjugation is die Dame  lebt, but the subjunctive form die Dame  lebe tells us that this what someone said. The reporter/newspaper is not (legally) responsible for the truth of the statement. When you read the news in German or hear it on the radio, this so-called indirect speech (indirekte  Rede)  is a form of  indirect  quotation that says, in effect, thats what we were told but we cant vouch for the accuracy of the statement. The other terms sometimes used for the Subjunctive I also say something about its use: the quotative, indirect discourse, indirect speech. Other Uses The Subjunctive I is also used in formal or technical writing and in directions or recipes to express propositions or instructions: Technical: Hier  sei  nur  vermerkt, dass... (Here let it only be noted that...)Recipe: Man  nehme  100 Gramm Zucker,  zwei  Eier... (Take 100 g of sugar, two eggs...)Slogan: Es  lebe  der Kà ¶nig! (Long live the king!) Conjugating the Subjunctive I Many  German grammar  books or  verb guides  will list full subjunctive conjugations, but in practice, you really only need to know the  third person singular  forms most of the time. The Subjunctive I is almost always found in the third-person form:  er  habe  (he has),  sie sei  (she is),  er  komme  (hes coming), or  sie wisse  (she knows). This -e  ending (except for to be) rather than the normal -t  ending in the German third person is your clue to indirect quotation. The other non-third-person forms are rarely if ever used, so dont bother with them! Similarityto Command Forms The basic Subjunctive I form of a verb is usually identical to its imperative or command form. Although there are some exceptions, the third person singular subjunctive and the familiar (du) command forms often look alike:  Er  habe/Habe Geduld!  (Have patience!),  Sie  gehe/Geh(e)!  (Go!), or  Er sei/Sei  brav!  (Be good!). This is also true for the  wir-commands (lets, we-commands):  Seien  wir  vorsichtig!  (Lets be cautious!) or  Gehen  wir!  (Lets go!). For more about the command forms in German, see  Lesson 11  of German for Beginners. But remember, unless youre writing for a German newspaper or magazine, you dont need to be able to write or say the Subjunctive I forms. You only need to recognize them when you see them in print or hear them.

Reflective writing on health promotion during nursing clinical Essay

Reflective writing on health promotion during nursing clinical placement - Essay Example This paper employs Gibb’s reflective model to analyses the issue of health promotion while nursing clinical placements. This is because the model is particularly useful in helping people learn from situations that they regularly experience. It follows through a cycle of description, feelings (main), evaluation, conclusion and action (Gibbs 32). The cycle ensures that one does a deep self-analysis. The focus of this paper shall be on health promotion in the course of the placement in the Accident and Emergency (A&E) ward. â€Å"The A&E ward is usually the most action-packed section of a hospital, where things have to be done at a fast rate in order to save lives or relieve patients of their pain† (Jones 10). The A&E ward is the initial point of treatment of patients having severe injuries or illnesses that require immediate medical attention. Patients to the A&E ward are, in most cases, brought in by ambulances when in critical condition, or may come on their own if their condition is not all that bad. Whichever the case, the medical staff at the A&E ward always endeavors to put their best foot forward in treating the patients with the urgency that their injuries or illnesses demand (Jones 10). As such, this ward usually accommodates a patient only for a limited period before they are transformed to other wards in the hospital such as the intensive care unit (ICU). They may also be discharged home if it is safe. The Accident and emergency ward is a quick response ward that demands a wealth of prompt-action skills from the medical personnel (Sbaih 50). Any placement in the ward sharps one’s skills in as far as responding quickly to situations is concerned. Before the placement, one would view and conceptualize the profession as a very calm and slow one, given that it involves dealing with sick individuals. The A&E ward changes that narrow mindset. It opens up a person to the other side of nursing that requires on dropping their slow nature and

C.S Lewis The Screwtape Letters Research Paper Example | Topics and Well Written Essays - 1250 words

C.S Lewis The Screwtape Letters - Research Paper Example The character of Screwtape in the book is one from the lower rungs of the bureaucracy of Hell, as he acts as a sort of mentor and tries to guide Wormwood towards adopting the path of temptation and sin which would eventually lead him to Hell. The book is made up of thrity one letters in which Screwtape delivers his expert advice to Wormwood, on how to engage in the most sinful of conducts, while trampling on his personal Christian faith and beliefs about humanity. (Green, Jordan) The book also takes place within the confines of a parallel universe in which both Wormwood and Screwtape survive because of the devil’s existence; in their world, doing wrong is seen is doing right – emotions like jealousy and greed are given importance over any kind of good anyone would do, and both the inner demons of Wormwood and Screwtapes’ minds do not conform to any kind of good done for the benefit of humanity. They are not even able to comprehend what doing such good pertains or consists of. According to C S Lewis, â€Å"There are two equal and opposite errors into which our race can fall about the devils. One is to disbelieve their existence. The other is to believe, and to feel an excessive and unhealthy interest in them.† (Lewis, C.S) Thus with the help of the Screwtape Letters, he is able to grasp the attention and minds of almost all kinds of believers of human faith and religion out there. With the help of this quote, Lewis tries to explain how man should not shut his mind to the kind of wrong that is being done in the world, or the kind of devils that exist in the form of sin, that eventually puts a person into trouble. However, at the same time, a man should also not believe in the existence of these devils to the extent of formulating a lifelong bond or relationship with them, in a manner that would eventually lead to the degradation of the person. This powerful satire written by the author is a take on the devils that persist in society, and how

Network Monitoring Essay Example | Topics and Well Written Essays - 1750 words

Network Monitoring - Essay Example This essay is based on the primal reasons for government to regulate and examine information gathered or communicated by individuals either within the country or without. In line with the thesis statement, this essay is essentially centred at providing information/evidence as to why the government should be solely in charge of networks that keep the various communications within a country. To form a valid argument, we will examine the United Kingdom's pursuit to control information. The United Kingdom government has always been faced with the need to secure information within the country mainly to help ensure that no threat is forthcoming at least not through the communication networks. This has been a debate for a long time and has seen the two main parties in the Kingdom draw various opinions. While the labour party wanted the formation of a single database for storing individual communications, the conservatives wanted a monitoring system which would ensure information is filtered; only that information which poses a threat to the people is stored. This they said was due to two facts; one, the government would infringe on the privacy of individuals something that had been done in the past but which they wanted a departure from. Of concern however is not how the politicians fought for the balance between security and privacy but the main point I want to draw is that they all agreed on the need to monitor information; notably, for the sole reason of security. In the same way, the United Kingdom government through its home secretary found the need to monitor information. The following part thus gathers the various parts of concern for these individuals and examines the information handled within and without the government quarters to help cement the need to monitor information. PART TWO-Government and Networks Government and Information Understanding the above discussed network components will help in the discussion of the government's need to secure networks for the purpose of security promotion and maintenance; especially, with the growing threats of terrorism, fraud cases and other major scandals. (Barret et al 2006) These have caught the government either unprepared or have overwhelmed government forces due to the extent and level of the technology used. This necessities that the government prepares fully for such occurrences or situations and since it is usually not possible to harness the entire human knowledge and make use of the same in developing government networks, it is then important for it to ensure that the information and methods used by these outside developers is monitored or regulated. Notice that the use of outside developers means those that are not part of the government. The other point of concern is that the corporate as well as the entire private sector has embarked in developing powerful technological equipments which enable the coding and encoding of data transported to allies of these companies or entities. If this is not monitored, then the security of the nation is likely to be in jeopardy as this information if not traced or decrypted, may contain matters likely to affect the well being of the society. Thus in conclusion, the government is definitely the one to control the amount of data that flows within the networks as it is the

Global Transportation Providers APL; OHL; COSCO Essay

Global Transportation Providers APL; OHL; COSCO - Essay Example OHL OHL is one of the largest third party logistic services providers in the world. It provides supply chain management services to top organizations of the world. Its services include transportation, custom brokerage, warehousing etc. Its tracking system is one of the most sophisticated in the world. Its shipment tracking system is based on GPS and EDI shipment tracking system and offer real time tracking system. OHL also does not provide facility to track the shipments online from any web browser whereas APL provides such facility. COSCO COSCO is relatively young company with over 25 years of experience in the industry. It uses an innovative and new technology to track its shipments. It serves mostly Asian markets including Japan, rest of Asia, North America and Europe. It manages IRIS-2 system which helps to manage its shipment tracking. It is considered as one of the most sophisticated systems in the industry. Advantages & Disadvantages One of the most important advantages of shipment tracking system for any transportation firm is the fact that it provides the company necessary flexibility as well as depth and breadth to mange cargos on large scales. Though most of the systems used by modern shipping companies are technology based therefore they enjoy the necessary advantages due to their technological superiority. As for as the system of APL is concerned, it is considered as one of the highly sophisticated and state of art system. In its essence, this is wireless system based on RFID. APL attaches RFID tags to most of its shipments to track their shipments. (Cox, 2006). However, the real draw back of this system is the fact the tags need to past certain posts in order to located therefore if a new container replaces another one the it may take a bit longer for the system to accurately give the real time location of the shipments based on their time. It is also important to understand that APL is also using WAVES which is based on a very complex technology which provides a much greater advantage over its competitors because it is not used by any other transportation firms in the world. This propriety use of a very complex and sophisticated system provide necessary competitive advantage. The shipment tracking system of OHL is a bit old and is considered as less sophisticated than APL. Based on GPS and EDI, this system is bit slower especially in terms of downloading the data from the real time location to the servers of the firm therefore accurate tracking takes slightly higher than other systems such as with APL. COSCO's system is supported by Sybase Inc. Sybase is one of the highly regarded company in terms of producing robust and sophisticated systems. COSCO adapted "Sybase's Adaptive Server Enterprise, Replication Server, Open Client and jConnect in its IRIS-2 System for data collection, storage, conversion, processing and analysis" (Connolly, 2008). The system employed by COSCON is much more sophisticated than the systems at APL and OHL. It not only provides a much more comprehensive tracking of the shipments but also enable COSCON to analyze the data on real time basis. However, it is also importan

Communication Change Challenge Assignment Example | Topics and Well Written Essays - 500 words

Communication Change Challenge - Assignment Example The researcher states that when his colleagues make false statements, he cannot confront or argue with them about the issue. This is because the author feels that he has undermined their expression and he leave this for them to decide. The researcher would like to improve on this as it can cause many problems, which he would avoid if he could correct their statements. When his parents, do anything that is not normal, the author cannot correct or question them on the issue. This is because they are older that the author feels disrespectful when he correct or question them on their allegations. When friends or family members ask for assistance in the form of advice or money, he cannot deny the assistance. This is because the researcher has been staying with them as friends and family members and he has been assisting them in case of any problem. When the author tries to deny their assistance, he feels that they are traumatized and uncomfortable as family members and friends. When the a uthor is answering questions in public or meetings, he does not go direct to the point without explanation. This is because the researcher feels that the audiences are not satisfied without elaboration of the points. Through explanation, the audience will feel free and comfortable to ask any question in the course of the discussion. The researcher feels uncomfortable in the family or the field when some tasks are pending or incomplete. This makes the author not to concentrate on anything else as he feels that he has a weakness somewhere due to incomplete tasks or duties. The researcher won't deny any assistance requested by someone. This shows that he is in a position to deny the assistance, but due to his willingness to assist, the author cannot deny the assistance. As he is used to a life of assisting other people the author will be comfortable when others are suffering yet he is able and willing to assist them. This is the motive, which makes me not to deny any assistance request ed by different people even when the researcher is not able to help, he will try.

Economics Essay Example | Topics and Well Written Essays - 1750 words - 1

Economics - Essay Example The main reason for the differences coming short may so be given by the treasury was the previous failings of monetary policy. In their description of the new monetary framework of October 1999, the principal argument was that previously there had been that numerous shortcomings in the design and conduct of monetary policy. Objectives were often inappropriate or unclear, while decisions were often poorly coordinated with fiscal policy or were made too late to prevent inflationary pressures from building. Roles and responsibilities were also ill-defined, creating the impression that policy decisions could be based on short-term political considerations. A lack of transparency hindered accountability and meant that policy-makers were unable to build credibility (Balls, & ODonnell, 2002). Given that the Treasury was conducting both monetary and fiscal policy prior to giving independence to the Bank, this is a remarkable statement. It seems to be either a vote of no confidence in the Treasury, or in the incoming government. It was argued that previous governments had often accompanied an apparently tough budget with an interest rate cut, only to raise interest rates again shortly afterwards, when the budget proved more inflationary than expected. As a result, they proposed that a test of fiscal policy was whether an independent Bank would change interest rates following a budget. Their finding under the new monetary policy arrangements was that interest rate changes did not seem related to the previous budget (Goodhart, 2006). A possible test of what type of policy the Bank is pursuing may be possible when the Bank is faced by a supply shock. Interest rates control inflation through their effect on aggregate demand. Since a positive aggregate demand shock raises demand and inflation, the correct monetary policy response would be to offset the increase in aggregate demand by higher interest rates. In contrast, a negative supply shock- say an oil price increase,

Communication Change Challenge Assignment Example | Topics and Well Written Essays - 500 words

Communication Change Challenge - Assignment Example The researcher states that when his colleagues make false statements, he cannot confront or argue with them about the issue. This is because the author feels that he has undermined their expression and he leave this for them to decide. The researcher would like to improve on this as it can cause many problems, which he would avoid if he could correct their statements. When his parents, do anything that is not normal, the author cannot correct or question them on the issue. This is because they are older that the author feels disrespectful when he correct or question them on their allegations. When friends or family members ask for assistance in the form of advice or money, he cannot deny the assistance. This is because the researcher has been staying with them as friends and family members and he has been assisting them in case of any problem. When the author tries to deny their assistance, he feels that they are traumatized and uncomfortable as family members and friends. When the a uthor is answering questions in public or meetings, he does not go direct to the point without explanation. This is because the researcher feels that the audiences are not satisfied without elaboration of the points. Through explanation, the audience will feel free and comfortable to ask any question in the course of the discussion. The researcher feels uncomfortable in the family or the field when some tasks are pending or incomplete. This makes the author not to concentrate on anything else as he feels that he has a weakness somewhere due to incomplete tasks or duties. The researcher won't deny any assistance requested by someone. This shows that he is in a position to deny the assistance, but due to his willingness to assist, the author cannot deny the assistance. As he is used to a life of assisting other people the author will be comfortable when others are suffering yet he is able and willing to assist them. This is the motive, which makes me not to deny any assistance request ed by different people even when the researcher is not able to help, he will try.

The Hollow Men by T.S. Elliot. Essay Example for Free

The Hollow Men by T.S. Elliot. Essay In The Hollow Men there is a conflict between an intense longing for a state of edenic purity and the contradictory search for a more lasting form of order through denial and alienation. It can be observed that The Hollow Men expresses the depths of Eliots despair, but the poet in a sense chooses despair as the only acceptable alternative to the false existence of the unthinking inhabitants of the waste land. The despair of The Hollow Men is controlled by intellectual principles, in the way the poem consciously evaluates experience in abstract terms, distinguishes between opposing states of being, and establishes, both in form and subject matter, the illusion of visionary experience. The poem represents the progress of Eliots own intellectual soul, but this progress is frustrated by the poets attraction to a visionary imagery. The Hollow Men replaces the rich and chaotic style of The Waste Land with an austerity of expression and a more contemplative mood. The formal strategy of The Hollow Men, like its content, seems designed to show how effectively the inarticulate influences the conception and creation of a work of art. The formal aspects of the poem imitate the characteristics of the hollow men it portrays. For example, their desire to avoid speech (5) is comparable to the poems general paused rhythm, and the technique of constant repetition and negation: The eyes are not here / There are no eyes here. (5) Moreover, the Paralyzed force, gesture without motion (5) applies not only to the men themselves but to the poem as a whole, which exhibits little narrative progression in the conventional sense and lacks verbs of direct action. As the hollow men walk together, say prayers to broken stones, and whisper meaninglessly, so the poem itself moves toward a conclusion only to end in hollow abstraction, broken prayer, and the meaningless repetition of a rhyme. The reduction of poetic expression to the minimum does away with metaphor and simile and produces a final section of the poem which almost completely lacks modifiers. The poetic style marked by verbal austerity and negation forms a counterpart  to the theme of rejection of the validity of human experience at every level. In this respect the poem expands on the theme of denial explored as part of the individuals search for meaning in The Waste Land. The Hollow Men explores this boundary situation in its images of finality or extremity and in a theme that comprises two different states of being. The poems speaker anticipates with dread that final meeting (5); the men walk together In this last of meeting places (5); the final section, in its generalized abstraction of all that has gone before, tells us that This is the way the world ends. The Dantescan image of the lost souls Gathered on this beach of the tumid river (5) belongs to a boundary theme that recurs throughout Eliots poetry: Prufrock escapes from the world of skirts and teacups to the world of visionary imagination by means of a walk upon the beach. (6) The protagonist of The Waste Land sits down and cries By the waters of Leman,(7) then on the shore with the arid plain behind me. (7) The persona of The Hollow Men has arrived, intellectually and physically, at the limit of one world only to find that its deliberate disguises (5) hide a limited lack of possibility: between capacity and existence Falls the Shadow. (5) (5) The Hollow Men, T.S.Eliot, (6) The Love Song of J. Alfred Prufrock, T.S.Eliot. (7) The Wasteland, T.S.Eliot

Key Factors That Stimulate Economic Growth Economics Essay

Key Factors That Stimulate Economic Growth Economics Essay Firstly, one of the main determinants is capital. As a result, an increase in capital through investment will increase output. Investment will only raise output depending on the productivity of this new capital which is called marginal efficiency of capital. Physical capital is essential as workers are more productive and they are able to work more quickly and accurately by having the right tools. Furthermore, the quality of labour (education) determines human capital. Investing in education is similar to investing in physical capital. Consequently, investing in secondary schooling is considered one of the most effective ways that developing countries can increase their growth. Also, this is also showed in the UK budget 2010 where they are giving 20,000 additional places at undergraduates as it is seen as vital to the economic recovery (telegraph, 2010). Figure 1 shows the student test scores versus GDP per capita. The correlation between GDP and test scores, although not perfect, is strong (economic growth, pg.179). Countries that devote a large share of GDP to schooling, such as UK and Singapore, tend to have high growth rates. Countries that devote a small share of GDP, such as Mozambique and Nigeria, tend to have low growth rates. Figure 1: Student Test Scores vs GDP per Capita In addition, human Capital includes the size of the labour force. If there is an increase in the working population then there will be an increase in potential output. Population growth has a positive impact on GDP as more people bring stimulus to demand, investment and income. Since 1945, labour input has risen mainly because more women have joined the labour force (Begg, pg. 517) Both physical and human capital directly impact on the productive capacity of an economy, as there are more resources available. They are complements of each other as one cannot work with a tool if one does not have sufficient education and skills. For example, after the 2nd World War in Germany, physical capital (land, infrastructure) was destroyed, but the skills of the labour force allowed Germany to be one of the countries that recovered most rapidly after 1945 (Begg). Moreover, growth per capita was very small in the past but after the 1750 industrialisation the capital and knowledge that was gained by one generation was accumulated by the next and this resulted in a much increased GDP (Economist). This shows that both types of capital are essential for economic growth. Moreover, natural resources also contribute to economic growth but there is a limit as to how much can be exploited. For instance, oil is a non-renewable resource and when it is depleted, we will not be able to create more. Also, the land that a specific country owns will always stay the same, unless it is conquered by another country. Therefore, natural resources contribute to the economic growth but they are not necessary for an economy to be highly productive. For instance, Japan is one of the richest countries but does not have many natural resources (Mankiw and Taylor, pg. 508). Furthermore, technology is another key determinant of economic growth. The new growth theories examine factors that à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"determine why technology, research, innovation and the like are undertaken and how they interactà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  (LeRoy). Technological improvements (such as computers) increase the marginal efficiency of capital (which is the additional output resulting from the use of an additional unit of capital) and new machines give a higher rate of return as technology can replace workers. Innovation also allows us to transform objects into forms that provide greater growth. The New Growth Theory also implies that we continue to increase living standards by steadily improving our knowledge of how to produce more and better goods and services with ever smaller amounts of physical resources (Grossman and Helpman, 1994). Knowledge and education are equally important. Romer (1968) argues that production and manufacturing knowledge is just as important as other determinants. He believes that knowledge is itself a factor of production and economies should invest in it, just as they invest in capital and machines. This is why knowledge and education will affect economies in a long term as more people will be able to contribute ideas, invent new products and build on ideas of others for the economy to move forward. Figure 2 shows the productivity (GDP per worker) levels in 1993. For decades, UK has invested a smaller proportion than other countries. Few of the causes of this poor performance comparing with other countries are that: UK had been slow to exploit the commercial potential of new technologies, the workforce had not had the skills necessary to adapt to changing economic conditions and to innovate and the amount of investment has been poor comparing with international standards (Treasury). Since then, UK has increased investment in human capital, technology and innovation. This resulted in Figure 3, where the reduction in the UKà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s output per worker gap with France, Germany and the US from 1995 to 2005 (after 10 years) is showed. The treasury reported that UK in 2006 was now experiencing its longest period of combined productivity and employment growth since the 1950s. Figure 2: Productivity (GDP per worker) levels in 1993 Figure 3: International comparisons of output per worker (treasure, pg.3) It is also reasonable to expect that, if other things equal, a greater commitment to innovation and research and development will accelerate technical progress and hence productivity growth (Economic Growth in Modern Britain, pg. 45). This is due to increasing use of technology that enables introduction of new and superior products and processes. This role has been emphasised by various growth models and many studies (Fagerberg, 1987; Lichtenberg, 1992; Ulku, 2004 (working paper)). However, RD is quite risky because the economy does not know how much to invest in it and if they will actually find something new. This is why an economy needs to have a skilled and educated labour force in order to succeed in RD. In the pre-budget of 2009, UK has more than doubled public investment and encouraged private sector investment through the RD tax credit. The Government has announced that it will introduce a Patent Box to strengthen the incentives to invest in innovative industries and ensure the UK remains an attractive location for innovation. (innovation pg. 66) Another major contributor to economic growth is investment and savings. Solowà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Growth Model emphasises the importance of investment in an economy (Working paper). Most determinants of economic growth depend on investment like: capital, education and technology. In order for capital goods to be accumulated to produce greater quantities of consumer goods in the future, consumer goods have to be given up in the present. For growth to occur the level of investment has to be greater than the amount of depreciation. The higher the level of investment above depreciation, the greater the potential output of the economy in the future. Unfortunately, the resources to enable investment have to come from somewhere and this is achieved by an increase in savings by households. Higher saving rates contribute to higher investment and hence increase capital accumulation and economic growth. The analysis above gives the traditional Production Possibility Frontier(PPF) model of economic growth. In the figure below, a country starting with high levels of current consumption will have few resources available for investment. Its PPF will increase only slowly, if at all. A country succeeding in restricting consumption today will have an expanded PPF in the future, and can move to a point of higher consumption and higher economic growth (factors determining economic growth). Figure 4: Production Possibility Frontier Free trade also supports economic growth as it encourages a more rapid spread of technology and industrial ideas. Open markets affect economic growth through several channels such as exploitation of comparative advantage, technology transfer and diffusion of knowledge, increasing scale economies and exposure to competition (working paper). Poor countries that are open grow faster on average than rich countries because openness leads to economic convergence and the speedup of growth (graph pg. 326 table 11.1). In figure 5, we can examine the economic opening of Japan in 1858. It shows the price of two goods, tea and sugar, which before the opening were equally valuable. However, as soon as Japan began to trade, the price of tea rose and of sugar fell. Japan could now export tea at a higher price and import sugar without processing it domestically. It had a comparative advantage in the production of tea and within two decades was exporting 24 million pounds of it annually. By increasing competition between countries, efficiency improves and it increases the incentives for technological innovation. Trade encourages economies to discover ways to specialise so that they can become more productive and earn higher incomes. However, not all economies can benefit from free trade because they do not all have the means to technological progress or enough knowledge. In conclusion, economic growth is an important topic because it has such a significant impact on the welfare of many people. It is a field of active research, in which ideas are constantly being processed; new models are built, debated and tested. One can see that all determinants are interlinked and contribute to a long-term economic growth.

Anthropology Today Essay -- Anthropology

Anthropology Today In society today, the discipline of anthropology has made a tremendous shift from the practices it employed years ago. Anthropologists of today have a very different focus from their predecessors, who would focus on relating problems of distant peoples to the Western world. In more modern times, their goal has become much more local, in focusing on human problems and issues within the societies they live. This paper will identify the roles anthropologists today play, such as where they perform the bulk of their work, and what it is they do in both problem solving, as well as policy making. It will also identify the issues they are faced with, that is, the nature of the problems they address. Ethics have always been an important part of anthropology, and this paper will also deal with the ethical goals of today's anthropologists and some of the ethical problems they are faced with. The information of this paper was obtained entirely from the internet. It was designed as an internet project structured to both teach and familiarize research through the World Wide Web. Any data in this paper was derived through information posted publicly on internet sites available to any member of the public with an internet connection. As a result of the narrow area of research, the information provided both to the author and the reader is limited. While it is true that the internet is a source of boundless information, the sheer amount of it all makes reading all of it impossible. Also, the total lack of journal reports, or texts, means that while the information provided may not be minimal, it is nonetheless limited. When people think of an anthropologist, the image of the jungle traveling character comes to mind. A white man sitting in a hut on some primitive island, taking notes on the local tribes s/he is living with. Decades ago, this was actually the case. However, as time progresses, so does the role of the anthropologist in today's society. Very rarely now does anthropology actually involve extensive fieldwork in an exotic location. Today, an M.A. or a Ph.D. in the field of anthropology means that a job locally may be available to you. There is always the academic side of things, such as becoming a professor of the discipline, but this paper will focus more on the non-academic roles of the anthropo... ...y have come full- circle; no longer do they study the foreign, but now study the local. Their positions in society are almost too many to mention, but the severe increase in the business world must be mentioned. It can be said that the discipline of anthropology covers a wide variety of tasks as well as overlapping with other fields of the social sciences, but that statement becomes more true with each passing year. BIBLIOGRAPHY 1. AAA 2000 "Code of Ethics of the American Anthropological Association", http://www.aaanet.org/committees/ethics/ethcode.htm 2. Anonymous 2000 "Society for Applied Anthropology", http://www.sfaa.net/sfaajobs.html, Oct. 18, 2000 3. Anonymous 2000 "A guide for field projects on adaptive strategies", http://iisd1.iisd.ca/casl/CASLGuide/ParticipantObserver.htm, Jan. 17, 2000 4. Cassell, Joan and Sue-Ellen Jacobs "American Anthropological Associasion Handbook on Ethical Issues in Anthropology", http://www.aaanet.org/committees/ethics/toc.htm 5. High Top Media 2000 "Anthropology Links", http://hightopmedia.com/HTMANTHlinks.htm, Apr. 2000 6. SfAA 2000 "Society for Applied Anthropology", http://www.sfaa.net/, Sept. 29, 2000

Biography of Alain Locke :: essays research papers

During the 1920's, many African Americans migrated to Harlem, New York City in search of a better life a life which would later be better than what they had in the South. This movement became known as the Harlem Renaissance. It was originally called the New Negro Movement. Black literature during this era began to prosper in Harlem. The major writers of the Harlem Renaissance were many, such as, Sterling A. Brown, James Weldon Johnson, Countee Cullen, Langston Hughes, Claude McKay, Zora Neale Hurston and others. The main person, however, was a scholar named Alain Locke. Locke would later be known by many authors and artists as the â€Å"father of the Harlem renaissance.† Alain Leroy Locke was born to S. Pliny and Mary Hawkins Locke on October 13, 1886 in Philadelphia, Pennsylvania. His parents were both teachers. Alain Locke’s father died when he was six years old, and his mother raised him alone. â€Å"She was determined that he receive the best education† (Hardy 34). He did receive what his mother wanted. He earned a scholarship to Harvard University and in 1907, graduated magna cum laude in philosophy. That same year he became the first African American to win a Rhodes scholarship, which allowed him to continue studying in Oxford, England. He studied at Oxford from 1907 to 1910 and then went to University of Berlin from 1910-1911. Locke received his Ph.D. in philosophy from Harvard University in 1918. Philosophy was the subject that attracted Locke the most at Oxford. This was the study of why people and cultures act the way they do. While studying in college, he became acquainted with a number of other well educated African Americans. Through them he gained a new view on America’s racial problems and learned a great deal about Africa and its history. Locke and his African American college friends then founded the â€Å"African Union Society†. The goal of this group was to develop a sense of brotherhood between each other and learn about its members so they could be the future â€Å"leaders of the African Race† (Hardy 34). The members usually discussed about how people believe that blacks and Asians were inferior to whites. Locke started his career teaching English at Howard University. Later on however, he became head of the Department of Philosophy. While he was working, he had developed some other interests in other fields as well. He liked music, art, literature, political theory, and anthropology to name a few. Biography of Alain Locke :: essays research papers During the 1920's, many African Americans migrated to Harlem, New York City in search of a better life a life which would later be better than what they had in the South. This movement became known as the Harlem Renaissance. It was originally called the New Negro Movement. Black literature during this era began to prosper in Harlem. The major writers of the Harlem Renaissance were many, such as, Sterling A. Brown, James Weldon Johnson, Countee Cullen, Langston Hughes, Claude McKay, Zora Neale Hurston and others. The main person, however, was a scholar named Alain Locke. Locke would later be known by many authors and artists as the â€Å"father of the Harlem renaissance.† Alain Leroy Locke was born to S. Pliny and Mary Hawkins Locke on October 13, 1886 in Philadelphia, Pennsylvania. His parents were both teachers. Alain Locke’s father died when he was six years old, and his mother raised him alone. â€Å"She was determined that he receive the best education† (Hardy 34). He did receive what his mother wanted. He earned a scholarship to Harvard University and in 1907, graduated magna cum laude in philosophy. That same year he became the first African American to win a Rhodes scholarship, which allowed him to continue studying in Oxford, England. He studied at Oxford from 1907 to 1910 and then went to University of Berlin from 1910-1911. Locke received his Ph.D. in philosophy from Harvard University in 1918. Philosophy was the subject that attracted Locke the most at Oxford. This was the study of why people and cultures act the way they do. While studying in college, he became acquainted with a number of other well educated African Americans. Through them he gained a new view on America’s racial problems and learned a great deal about Africa and its history. Locke and his African American college friends then founded the â€Å"African Union Society†. The goal of this group was to develop a sense of brotherhood between each other and learn about its members so they could be the future â€Å"leaders of the African Race† (Hardy 34). The members usually discussed about how people believe that blacks and Asians were inferior to whites. Locke started his career teaching English at Howard University. Later on however, he became head of the Department of Philosophy. While he was working, he had developed some other interests in other fields as well. He liked music, art, literature, political theory, and anthropology to name a few.

Marketing activities Essay

Jeans are just an ordinary piece of clothing to many people. To others, however, they are a powerful means of self-expression. This fact is confirmed by the sheer number of companies that produce jeans, including Levis, Gap, Old Navy, Calvin Klein, Armani, Guess, Miss Sixty, Tommy Hilfiger and many others. Jeans are one of many ways in which a person can send a message to other people concerning various aspects of one’s character, an easy and understandable way at that. Given the large scale of marketing activities of clothing manufacturers nowadays, if jeans did not send a message, the producing companies would invent a message for them. It is just so fascinating to impart a twist of meaning to a couple of pants so that the pubic can identify them with a particular style or trend. This is the age of individualisation and customization, and clothing manufacturers do not want to stay behind. They want to make their product specific and readily recognizable – and they do everything they can to appeal to their target audience with a specific message. For instance, Levis are now seen as a traditional American outfit, something that brings one back to the times of life on the frontier or something that our grandparents wore. Gap, on the contrary, is a more youthful, girlish look, and so is Miss Sixty. This process can be described as branding, a concept familiar to every marketer who knows that if a piece of clothing does not send a message, it is the job of the marketer to invent this message and make sure the potential buyers are able to recognise it. The marketers’ task is to plant in the mind of the consumer the idea that carrying a certain brand is linked to a philosophy, that a company does not stand merely for a set of machines with workers as appendages, that it can develop and sustain an ideology embodied in a simple pair of jeans. What kind of messages can jeans send out? First, a person can opt for a traditional or a modern design, underscoring the level of commitment to modernity and change. It is most often natural for older people to choose traditional fashion, classical fits that will last for many years without violating the norms of fashion. The young, on the contrary, will most often wear the fashions of this very season in order to underscore that they are at the forefront of fashion. When, for instance, an older person may opt for a more modern cut going to a youth venue for some reason. This can send out a message to the younger crowd that this person wants to be in many ways like them and share their experiences in different possible ways. Then there is the question to be solved as to how much sex appeal the jeans should hold. We all remember very well this trend towards super-tight men’s jeans that mostly young guys wore partly because it was fashionable and partly because they wanted to demonstrate their attractions to the opposite sex. Girls can also wear tight jeans or choose those that are very low-cut to emphasize their appeal. As with revealing clothing in general, a person wearing such clothing demonstrates that he or she is very confident of one’s ability to attract other people and happy or at least not shameful of one’s figure. This is not always the case, and those who think their bodies are distasteful are not likely to choose jeans that will reveal a large part of it. Another message linked to wearing sexy jeans is the manifestation of the desire to be liked by the opposite sex. Surely we all or almost all have this desire, but not everybody would dare to reveal it in public, either in words or in clothing. Many people are wary of being too open about this inner drive and try to suppress it as something indecent. The individual who chooses to demonstrate this natural instinct is sending a message to representatives of the opposite sex: â€Å"Look at me, I want you to appreciate me. Am I not good-looking? † Tight jeans will almost surely make guys inspect a girl’s figure more closely than that of her more modest friends even if those look like top models. She will then attract more suitors – but at the same time risks incurring girls’ anger as they recognize that she is out on a hunt and will grab a fair share of what could have been their prey. Thus, wearing provocative jeans can also be a sign of daring, ability to defy social norms and to disregard the opinion of other people. Since in most cultures flirting is reserved for informal surroundings, a person who puts on a sexy-looking pair indicates that he or she believes to be in a setting where flirting is acceptable and one can expect to find a partner. Few people would seriously consider putting on provocative jeans on a corporate outing since this would send the wrong message to the colleagues. Besides, jeans can look either sophisticated or sloppy, and this distinction, too, is meaningful. A person may choose to look sloppy in order to underscore the informality of the situation and to make others feel at ease. This effect can occur when, for instance, an official or top-level executive invents a little outing with subordinates and wants to appear in the image of a simple, down-to-earth man attentive to their needs and feelings. Choice of an upscale-looking, elegant pair of jeans may not be quite the right choice since this will remind the inferiors once again about the difference in the social status between them and their boss. A casual, sloppy pair will be more acceptable.

Deutsche Brauerei

QUESTION FOR REPORT/ DISCUSSION 2. What are the characteristics of Fund flow statement and its uses? What do the financial forecast and sources and uses of funds statement of company tell us? Discuss about breakeven analysis. What does the breakeven chart of the company tell us? [pic] Fund Flow Statement Financial statements mainly include profit and loss account and balance sheet. Profit and loss account lists out all the expenses made by the firm and revenue earned over a period of time. Balance sheet depicts the financial position of the firm at a particular point of time. While fund flow statement is complimentary to both balance sheet and profit and loss account, it brings a clear idea about the movement of funds in and out of the firm, during a particular period of time. Meaning of Fund Flow The financial statement of the business indicates assets, liabilities and capital on a  particular date and also the profit or loss during a period. But it is possible that there is enough profit in the business and the financial position is also good and still there may be deficiency of cash or of working capital in business. If the management wants to find out as to where the cash is being utilized, financial statement cannot help. Therefore, a statement is prepared of the sources and applications of funds from where Working Capital comes and it is utilized. This is called Fund Flow statement. Meaning of ‘Fund’ In a popular and generally accepted sense the term ‘fund’ is used to denote the excess of current assets over current liabilities : Working Capital  Ã‚  Ã‚  Ã‚   =  Ã‚  Ã‚   Current Assets – Current Liabilities Meaning of ‘Flow’ of Fund Flow of funds means transmigration (coming and going) of funds. In other words, Flow of funds means change in Working capital, as in funds flow statement the words ‘funds’ mean net working capital. Hence Coleman rightly states that, â€Å"The fund statement is statement summarizing the significant financial changes which have occurred between the beginning and the end of a company’s accounting period. † The flow of fund if is represented by changes in working capital, then it can happen, only if a transaction involves changes on both current item and noncurrent item. Every transaction has double entry. Various cases can be that transaction involves Change on current assets and on fixed assets (cash purchase of fixed assets) o Cash being current item and fixed assets are non current ? Change on current assets and on current assets (credit sale of inventory) o Debtors is a current item and inventory is also current in nature ? Change on current assets and change on current liabilities (payment made to creditors) o Cash is current asset and creditor, current liability ? Change on current liabilities and change on current liabilities (short term loan taken to clear overdraft) ? Change on fixed assets and on fixed liabilities (sale of investments to redeem debentures) So, amongst all these combinations, transactions which involve change, on one hand on current item and on other hand on non current item, they would only lead to fund flow. E. g. * Sell investments in cash. * Issue of shares * Raising long term loans, etc. Thus fund flow statement enumerates various sources from which funds come in organization and various applications which lead to usage of funds. It is an important tool to check the efficiency of management in the firm. It can make future projections about working capital requirements and thus firm can arrange for those requirements and can allocate funds in a more efficient manner. Preparation of fund flow statement involves preparation of adjusted profit and loss account which is prepared by excluding the non fund and non operating items from the initial figure of net profit. Different Names of Fund-flow Statement * A Funds Statement * A statement of sources and uses of fund * A statement of sources and application of fund * Where got and where gone statement * Inflow and outflow of fund statement Objectives of Fund Flow Statement The main purposes of Fund Flow Statement are: 1. To help to understand the changes in assets and asset sources which are not readily evident in the income statement or financial statement. 2. To inform as to how the cans to the business have been used. 3. To point out the financial strengths and weaknesses of the business How to Prepare a Fund Flow Statement Fund flow statements are prepared by taking the balance sheets for two dates representing the coverage period. The increases and decreases must then be calculated for each item. Finally, the changes are classified under four categories: (1) Long-term sources, (2) long-term uses, (3) short-term sources, (4) short-term uses. It is also important to zero out the non-fund based adjustments in order to capture only the changes that are accompanies by flow of funds. However, income accrued but received and expenses incurred but not received reckoned in the profit and loss statement should not be excluded from the profit figure for the fund flow statement. Fund flow statements can be used to identify a variety of problems in the way a company operates. For example, companies that are using short-term money to finance long-term investments may run into liquidity problems in the future. Meanwhile, a company that is using long-term money to finance short-term investments may not be efficiently utilizing its capital. Steps in Preparation of Fund Flow Statement: 1) Preparation of schedule changes in working capital (taking current items only). 2) Preparation of adjusted profit and loss account (to know fund from [or] fund lost in operations). 3) Preparation of accounts for non-current items (Ascertain the hidden information). 4) Preparation of the fund flow statement. Importance of funds flow statement: Funds flow statement is an important analytical tool for external as well as internal uses of financial statements. The users of funds flow statement can be listed as under: 1. Managements of various companies are able to review cash budgets with the aid of funds flow statements. They are extensively used by the management in the evaluation of alternative finance & investments. In the evaluation of alternative finance & investment plans, funds flow statement helps the management in the assessment of long-range forecasts of cash requirements & availability of liquid resources. The management can judge the quality of management decisions. 2. Investors are able to measure as how the company has utilized the funds supplied by them & its financial strength with the aid of funds statements. They gauge can the company capacity to generate funds from operations. On the basis of comparative study of the past with the present, investors can locate & identify possible drains on funds in the near future. 3. Funds statement serve as effective tools to the management for economic analysis as it supplies additional information, which cannot be provided by financial statements, based on historical data. . Fund statement explains the relationship between changes in working capital & net profits. Funds statement clearly shows the quantum of funds generated from operations. 5. Funds statement helps in the planning process of a company. They are useful in assessing the resources available and the manner of utilization of resources. 6. Funds statement explains the financial c onsequences of business activities. They provide explicit & clear awareness to questions regarding liquid & solvency positions of the company, distribution of dividend & whether the working capital has been effective or otherwise. 7. Management of companies can forecast in advance the requirements of additional capital & can plan its capital issue accordingly. 8. Fund statement provides clues to the creditors & financial institutions as to the ability of a company to use funds effectively in the best interest of the investors, creditors & the owners of the company. 9. Funds statement indicates the adequacy or inadequacy of working capital. 10. The information contained in fund flow statement is more reliable, dependable & consistent as it is prepared to include funds generated from operations & not net profit after depreciation. 11. Funds flow statement clearly indicate how profits have been invested, whether investments in fixed assets or inventories or ploughed back. Financial forecast: A financial forecast is normally an estimate of future financial outcomes for a company. Using historical internal accounting and sales data, in addition to external market and economic indicators, a financial forecast is an economist's best guess of what will happen to a company in financial terms over a given time period — which is usually one year. In this case, the company has forecasted its data for the years 2001 and 2002. Sources of funds 1. Net Income: Net income  is equal to the  income  that a firm has after subtracting costs and  expenses  from the total  revenue. Net  income can be distributed among holders of common stock as a  dividend  or held by the firm as  retained earnings. The items deducted will typically include  tax expense, financing expense (interest expense), and  minority interest. Net income is informally called the  bottom line  because it is typically found on the last line of a company's  income statement. [pic] The forecasted net income is increasing in the projected year. It has been projected that there would be an increase in the net income of 28% in 2001 and 17% in 2002. This can be credited to their expansion strategy in the coming years. There has been a dip in the net income in the year 1999 owning to the depreciation of Ukrainian currency by 125%. 2. Allowance for doubtful accounts: The allowance for doubtful accounts is a balance sheet account that reduces the reported amount of accounts receivable. Providing an allowance for doubtful accounts presents a more realistic picture of how much of the accounts receivable will be turning to cash. If a firm has made a sufficient provision in its allowance for doubtful accounts, reported earnings will not be penalized by bad debts when the bad debts occur. If uncollectible accounts are larger than expected, however, the firm will have to increase the size of the account and reduce reported income. [pic] There has been a sharp increase in allowance for doubtful accounts in the year 2001 which subsequently reduced. This can be linked to the increase in the credit they plan to give to the distributors owning to their expansion plans for the period and their recovery policy. The increase in doubtful accounts is a bad sign for the financial position for the company. 3. Depreciation: A  noncash expense  that reduces the  value  of an  asset as a  result  of  wear and tear, age, or  obsolescence. Most assets lose their value over time (in other  words, they depreciate), and must be replaced once the end of their useful life  is reached. Because it is a  non-cash expense, depreciation lowers the  company's  reported  earnings  while increasing  free cash flow. Calculated by two methods: 1. Straight Line Depreciation Method 2. Declining Balance Depreciation Method [pic] There has been gradual rise in the depreciation in the projected years. This can be related to increase in their number of assets (they are planning to buy more equipments and properties) which would lead to devaluation eventually. 4. Short-Term Debt: The account which comprises of any debt incurred by a company that is due within one year. The debt in this account is usually made up of short-term bank loans taken out by a company. The value of this account is very important when determining  a company's  financial health. If the account is larger than the company's  cash and cash equivalents, this suggests that the company  may be  in poor financial health and does not have  enough cash to pay off its short-term debts. Although  short-term debts are due within a year, there may be a portion of the long-term debt included in this account. This portion pertains to payments that must be made on  any long-term debt throughout the year. [pic] In initial years they heavily depended on short term debts. Over the years the financial health of the company improved which lead to the reduction in the debts. Owning to their credit policy and increase in investment in fixed assets, the company is not able to recover the money. This could have lead to increase in short term borrowings. 5. Accounts Payable: An accounting entry that represents an entity's obligation to pay  off a short-term debt to  its creditors. The accounts payable entry is found on a balance sheet under the heading current liabilities. Accounts payable are debts that must be paid off within a given period of time in order to avoid default. [pic] Increase in accounts payable shows that the company is making more purchases on credit. It could be due to taking more time to pay bills, buying more products on credit, paying higher prices for credit purchases. 6. Other Current Liabilities: A balance sheet entry used by companies to group together current liabilities that are not assigned to common liabilities such as debt obligations or accounts payable. Companies will group together these other current liabilities into one account on the balance sheet for the sake of simplicity. [pic] Since this category is made up of accruals and similar items, it increases as the company gets larger. It increased in 1999 owning to higher investment in Ukraine. The increase in the other current liabilities has been more or less stable in the projected years. 7. Total sources of cash: It is the sum total of all the components of sources of funds. [pic] Uses of Funds 8. Dividend Payments Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business (called retained earnings), or it can be paid to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend. [pic] There is a sharp increase in the dividend payment as the company is projecting a higher increase in their profits. The dividends are paid from the net income from the same year. Increase in dividend payments implies strong commitment to maintain higher level of dividends in the future. 9. Increases in cash balance Amount of available cash that a management decides to maintain in cash planning, to avoid or cover up cash shortfalls resulting from mismatch between cash inflows and outflows during an accounting period. [pic] The company is having optimum cash balance hence maintaining sufficient working capital. 10. & 11. Increases in accounts receivable Accounts receivable (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is typically done by generating an invoice and mailing or electronically delivering it to the customer, who in turn must pay it within an established timeframe called credit or payment terms. [pic] In Germany, the company has maintained a tight hold on the credit that they supply to the distributors; thus there isn’t a significant change in the accounts receivable as compared to Ukraine. pic] Increases in accounts receivable (Ukraine) that is disproportionate to any growth in revenue may indicate the company is having trouble collecting money from its customers. Depending on the company's cash situation, this could require the company to borrow money to plug the hole from the unpaid money it is owed by its customers. Eventual ly, the company might need to write-off some of these accounts receivable as bad debt, in recognition of the fact that some customers might never pay. In extreme cases, the company might run out of cash and have to shut down. 12. Increases in inventories Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. An organization's inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection. Inventory may also cause significant tax expenses, depending on particular countries' laws regarding depreciation of inventory. Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations hold larger inventories than their operations require in order inflating their apparent asset value and their perceived profitability. [pic] The fragile distribution system in Ukraine pre-2000 lead to increase in the inventories of the company as company is working on improving the distribution channel due to which the product flow has been projected to be smooth in coming years leading to decrease in inventory which is a healthy financial sign. 13. Increases in other assets Assets are economic resources owned by business or company. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks. pic] There is a negative growth in the increase in the other assets because of the depreciation of other assets and they are not planning to acquire any new assets in near future. By 2002 they are planning to buy enough assets just to overcome the negative growth. 14. Reductions in long-term debt Long-term debts are loans and financial obligations that last for over one year. For example, debts obliga tions such as bonds and notes, which have maturities greater than one year, would be considered as long-term debts. pic] Reduction in long term debts from 1998 to 1999 could be due to overnight success of the company in Ukraine. The sound financial condition of the company has ensured the stable repayment of long term loans and would continue to do so in future. 15. Capital Expenditures Capital expenditures (CAPEX or capex) are expenditures creating future benefits. A capital expenditure is incurred when a business spends money either to buy fixed assets or to add to the value of an existing fixed asset ith a useful life that extends beyond the taxable year. Capex are used by a company to acquire or upgrade physical assets such as equipment, property, or industrial buildings. [pic] The sharp increase in the CAPEX can be explained by the inflow of capital through long term debts and the operating profit the company is planning to achieve in the projected period. 16. Total uses of cas h: It is the sum total of all the use components in the fund flow statement. [pic] Break Even Analysis The break-even point for a product is the point where total revenue received equals the total costs associated with the sale of the product (TR=TC). A break-even point is typically calculated in order for businesses to determine if it would be profitable to sell a proposed product, as opposed to attempting to modify an existing product instead so it can be made lucrative. Break even analysis can also be used to analyse the potential profitability of an expenditure in a sales-based business. Breakeven analysis is a management accounting tool used for profit planning of a firm. Profit planning is a function of the selling price of a unit of product, the variable cost of making and selling the product, the volume of product unit sold and in case of multi-product companies, sales mix and finally, the total fixed costs. Breakeven point (for output) = fixed cost / contribution per unit. Break-even analysis is a technique widely used by production management and management accountants. It is based on categorising production costs between those which are â€Å"variable† (costs that change when the production output changes) and those that are â€Å"fixed† (costs not directly related to the volume of production). Total variable and fixed costs are compared with sales revenue in order to determine the  level of sales volume, sales value or production at which the business makes neither a profit nor a loss (the â€Å"break-even point†). Break even analysis depends on the following variables: 1. The fixed production costs for a product. 2. The variable production costs for a product. 3. The product's unit price. 4. The products expected unit sales. On the surface, break-even analysis is a tool to calculate at which sales volume the variable and fixed costs of producing your product will be recovered. Another way to look at it is that the break-even point is the point at which your product stops costing you money to produce and sell, and starts to generate a profit for your company. Break even analysis solves various managerial problems: †¢   Setting price levels: A price level is a hypothetical measure of overall prices for some set of goods and services, in a given region during a given interval, normalized relative to some base set. Hence with the help of BEP analysis a firm can determine the price level of product and particular sales volume which is necessary to produce an X amount of operating profit.   Targeting optimal variable/ fixed cost combinations †¢   Determining the financial attractiveness of different strategic options for your company. Break even Chart A breakeven chart is a strategic tool used to plot the financial revenue of a business unit against time or sales to determine the point when sales output is equal to revenue generated. This is reco gnised as the breakeven point. The information used to determine and analyse the breakeven point includes fixed, variable and total costs and the associated sales revenues. The analysis of a breakeven chart considers whether a venture runs at a profit or a loss. A sale above the breakeven point indicates continued and profitable growth. The principle of break-even theory is that during the early stages of a business venture, total costs, both fixed and variable, exceed sales. As output increases, sales begin to rise faster than costs and, eventually, they become equal (breakeven point). If sales continue to rise and exceed total costs, the business achieves profitability. The tool assumes that all the goods which are produced will be sold and that costs, namely the price, will remain constant. Likewise, it also relies on the capacity in terms of output to remain unchanged. Breakeven charts are universally applied to simply and graphically illustrate and forecast a company's projected revenue, and to calculate the time for profitability to be reached. It is used by financial and marketing strategists to predict the effect that changes in price will have on the percentage change in sales over time. It is also a useful tool to analyse the relationship between fixed and variable costs and to predict the effect on profitability of changes to those costs. Income Statements | | | | | | | |   |   |   |   |   |   |   | |Sales: Germany |62032 |62653 |64219 |66216 |68203 |70249 | |Sales: Ukraine |0 |4262 |17559 |25847 |37479 |48722 | |Total Net Sales |62032 |66915 |81778 |92063 |105682 |118971 | |Production Cost & Expenses |32258 |35366 |44271 49827 |61393 |71609 | |Excise duties |9143 |9108 |10486 |11557 |11625 |13087 | |Allowance for doubtful accounts |5 |7 |38 |24 |2 01 |60 | |Total Variable Cost |41406 |44481 |54795 |61408 |73219 |84756 | |   |   |   |   |   |   |   | |Administrative & Selling Expenses |12481 |13014 |16274 |18505 |18500 |18500 | |Depreciation |3609 |4314 |5844 |6068 |6766 |7448 | |Total Fixed Cost |16090 | | | | | | | | | | | | | | |(â‚ ¬ per hectoliters) | | | |Per unit Sales | |9206300/1173000 = | |78. 8508099 | | | |Per unit variable cost | | | | | |61408000/1173000 = | |52. 35123615 | | | |Contribution per unit | | | | | |Per unit Sales – Per unit variable cost = | |26. 3384484 | | | | | | |Breakeven Point = |Fixed cost/Contribution per unit | | | | | | | |24573000/26. 13384 = |940274. 633 | | | | | |Hence Number of units requires to be sold to reach breakeven point=940275 hectoliters | | | | | | | | | |Net Sale in year 2000 = 1173000 hectoliters | | |Revenue calculated from the sale of Breakeven volume sales = |breakeven point volume* per unit sale price |â‚ ¬ 73797559. 3 | | | | | |Total Variable cost at Breakeven Point = Breakeven volume * Per |940275 * 52. 32123615 = |â‚ ¬ 49224558. 57 | |unit variable cost | | | | | | | | Total Fixed Cost = â‚ ¬ 24573000 | | | | | | |Total cost of Production of Beer |Fixed cost + variable cost |â‚ ¬ 73797558. 57 | | | | | This analysis identifies the break-even volume, where revenues just equal total costs and Deutsche Brauerei recovers all its fixed cost at the break-even volume sale. Sales above Break-even Point will bring profits for the company. Margin of Safety (volume) = Total volume Sold – Breakeven volume 1173000 – 940275 = 232725 hectoliters Margin of Safety (Revenue) = per unit sale price * Margin of safety volume = 78. 48508099 * 232725 = â‚ ¬ 18265440. 47 Variable Cost for selling 232725 hectoliters = per unit variable cost * Margin of Safety (volume) = 52. 35123615 * 232725 = â‚ ¬ 12183441. 43 Deutsche Breuerei has already covered up fixed cost expense with break even volume sale hence they will make profit above the sale of break even volume. Net profit = Margin of Safety (Revenue) – Variable Cost for selling 232725 hectoliters = â‚ ¬ 18265440. 47 – â‚ ¬ 12183441. 43 = â‚ ¬ 6081999. 041 From the above analysis it is seen that as the volume increased above the break even volume, the profits rise disproportionately faster. The analysis of a breakeven chart shows that Deutsche Breuerei has to sell more than 940275 hectoliters of beer to start making the profit for the venture. A sale above the breakeven point indicates a continued and profitable growth, and venture makes a profit of â‚ ¬6081999. 041. Hence Deutsche Breuerei should stick to the current price level of beer and profit planning. Break even chart of Venture shows that if they can reduce the Production Cost in coming years through new facility and equipment they can increase the profits in long term. As the company is showing a healthy sales of good they can invest on production facility to reduce the per unit production cost and expenses to increases the overall profits. ———————– DEUTSCHE BRAUEREI Case Analysis- Question 2 MBA PHARM. TECH. (4th year) [pic] [pic] |ROLL NO. |NAME |ROLL NO. NAME | |38 |Devang Mehta |41 |Upasana Nagpal | |39 |Anand Menon |42 |Abhilash Nair | |40 |Manish Mishra |43 |Kadambari Narang | SCHOOL OF PHARMACY AND TECHNOLOGY MANGEMENT †0[pic]? 0[pic]? 0[pic]? 0[pic] 1[pic]†1[pic]x1[pic]|1[pic]? 1[pic]u1 [pic]2[pic]2[pic]2[pic]I2[pic]? 2[pic]N3[pic]l3[pic]A4[pic]A4[pic]? 4[pic]eOA »Ã‚ ­A »A »Ã¢â‚¬Å"| ­h ­Ã‚ »WI8A! h`fJh? *B*[pic]OJQJ^J[? ]ph333h? *B*[pic]CJOJQJph! hNu—h? *B*[pic]CJOJQJNet income =Revenue – Cost of goods sold – Sales discounts – Sales returns and allowances – Expenses – Minority interest – Preferred stock dividends Deutsche Brauerei QUESTION FOR REPORT/ DISCUSSION 2. What are the characteristics of Fund flow statement and its uses? What do the financial forecast and sources and uses of funds statement of company tell us? Discuss about breakeven analysis. What does the breakeven chart of the company tell us? [pic] Fund Flow Statement Financial statements mainly include profit and loss account and balance sheet. Profit and loss account lists out all the expenses made by the firm and revenue earned over a period of time. Balance sheet depicts the financial position of the firm at a particular point of time. While fund flow statement is complimentary to both balance sheet and profit and loss account, it brings a clear idea about the movement of funds in and out of the firm, during a particular period of time. Meaning of Fund Flow The financial statement of the business indicates assets, liabilities and capital on a  particular date and also the profit or loss during a period. But it is possible that there is enough profit in the business and the financial position is also good and still there may be deficiency of cash or of working capital in business. If the management wants to find out as to where the cash is being utilized, financial statement cannot help. Therefore, a statement is prepared of the sources and applications of funds from where Working Capital comes and it is utilized. This is called Fund Flow statement. Meaning of ‘Fund’ In a popular and generally accepted sense the term ‘fund’ is used to denote the excess of current assets over current liabilities : Working Capital  Ã‚  Ã‚  Ã‚   =  Ã‚  Ã‚   Current Assets – Current Liabilities Meaning of ‘Flow’ of Fund Flow of funds means transmigration (coming and going) of funds. In other words, Flow of funds means change in Working capital, as in funds flow statement the words ‘funds’ mean net working capital. Hence Coleman rightly states that, â€Å"The fund statement is statement summarizing the significant financial changes which have occurred between the beginning and the end of a company’s accounting period. † The flow of fund if is represented by changes in working capital, then it can happen, only if a transaction involves changes on both current item and noncurrent item. Every transaction has double entry. Various cases can be that transaction involves Change on current assets and on fixed assets (cash purchase of fixed assets) o Cash being current item and fixed assets are non current ? Change on current assets and on current assets (credit sale of inventory) o Debtors is a current item and inventory is also current in nature ? Change on current assets and change on current liabilities (payment made to creditors) o Cash is current asset and creditor, current liability ? Change on current liabilities and change on current liabilities (short term loan taken to clear overdraft) ? Change on fixed assets and on fixed liabilities (sale of investments to redeem debentures) So, amongst all these combinations, transactions which involve change, on one hand on current item and on other hand on non current item, they would only lead to fund flow. E. g. * Sell investments in cash. * Issue of shares * Raising long term loans, etc. Thus fund flow statement enumerates various sources from which funds come in organization and various applications which lead to usage of funds. It is an important tool to check the efficiency of management in the firm. It can make future projections about working capital requirements and thus firm can arrange for those requirements and can allocate funds in a more efficient manner. Preparation of fund flow statement involves preparation of adjusted profit and loss account which is prepared by excluding the non fund and non operating items from the initial figure of net profit. Different Names of Fund-flow Statement * A Funds Statement * A statement of sources and uses of fund * A statement of sources and application of fund * Where got and where gone statement * Inflow and outflow of fund statement Objectives of Fund Flow Statement The main purposes of Fund Flow Statement are: 1. To help to understand the changes in assets and asset sources which are not readily evident in the income statement or financial statement. 2. To inform as to how the cans to the business have been used. 3. To point out the financial strengths and weaknesses of the business How to Prepare a Fund Flow Statement Fund flow statements are prepared by taking the balance sheets for two dates representing the coverage period. The increases and decreases must then be calculated for each item. Finally, the changes are classified under four categories: (1) Long-term sources, (2) long-term uses, (3) short-term sources, (4) short-term uses. It is also important to zero out the non-fund based adjustments in order to capture only the changes that are accompanies by flow of funds. However, income accrued but received and expenses incurred but not received reckoned in the profit and loss statement should not be excluded from the profit figure for the fund flow statement. Fund flow statements can be used to identify a variety of problems in the way a company operates. For example, companies that are using short-term money to finance long-term investments may run into liquidity problems in the future. Meanwhile, a company that is using long-term money to finance short-term investments may not be efficiently utilizing its capital. Steps in Preparation of Fund Flow Statement: 1) Preparation of schedule changes in working capital (taking current items only). 2) Preparation of adjusted profit and loss account (to know fund from [or] fund lost in operations). 3) Preparation of accounts for non-current items (Ascertain the hidden information). 4) Preparation of the fund flow statement. Importance of funds flow statement: Funds flow statement is an important analytical tool for external as well as internal uses of financial statements. The users of funds flow statement can be listed as under: 1. Managements of various companies are able to review cash budgets with the aid of funds flow statements. They are extensively used by the management in the evaluation of alternative finance & investments. In the evaluation of alternative finance & investment plans, funds flow statement helps the management in the assessment of long-range forecasts of cash requirements & availability of liquid resources. The management can judge the quality of management decisions. 2. Investors are able to measure as how the company has utilized the funds supplied by them & its financial strength with the aid of funds statements. They gauge can the company capacity to generate funds from operations. On the basis of comparative study of the past with the present, investors can locate & identify possible drains on funds in the near future. 3. Funds statement serve as effective tools to the management for economic analysis as it supplies additional information, which cannot be provided by financial statements, based on historical data. . Fund statement explains the relationship between changes in working capital & net profits. Funds statement clearly shows the quantum of funds generated from operations. 5. Funds statement helps in the planning process of a company. They are useful in assessing the resources available and the manner of utilization of resources. 6. Funds statement explains the financial c onsequences of business activities. They provide explicit & clear awareness to questions regarding liquid & solvency positions of the company, distribution of dividend & whether the working capital has been effective or otherwise. 7. Management of companies can forecast in advance the requirements of additional capital & can plan its capital issue accordingly. 8. Fund statement provides clues to the creditors & financial institutions as to the ability of a company to use funds effectively in the best interest of the investors, creditors & the owners of the company. 9. Funds statement indicates the adequacy or inadequacy of working capital. 10. The information contained in fund flow statement is more reliable, dependable & consistent as it is prepared to include funds generated from operations & not net profit after depreciation. 11. Funds flow statement clearly indicate how profits have been invested, whether investments in fixed assets or inventories or ploughed back. Financial forecast: A financial forecast is normally an estimate of future financial outcomes for a company. Using historical internal accounting and sales data, in addition to external market and economic indicators, a financial forecast is an economist's best guess of what will happen to a company in financial terms over a given time period — which is usually one year. In this case, the company has forecasted its data for the years 2001 and 2002. Sources of funds 1. Net Income: Net income  is equal to the  income  that a firm has after subtracting costs and  expenses  from the total  revenue. Net  income can be distributed among holders of common stock as a  dividend  or held by the firm as  retained earnings. The items deducted will typically include  tax expense, financing expense (interest expense), and  minority interest. Net income is informally called the  bottom line  because it is typically found on the last line of a company's  income statement. [pic] The forecasted net income is increasing in the projected year. It has been projected that there would be an increase in the net income of 28% in 2001 and 17% in 2002. This can be credited to their expansion strategy in the coming years. There has been a dip in the net income in the year 1999 owning to the depreciation of Ukrainian currency by 125%. 2. Allowance for doubtful accounts: The allowance for doubtful accounts is a balance sheet account that reduces the reported amount of accounts receivable. Providing an allowance for doubtful accounts presents a more realistic picture of how much of the accounts receivable will be turning to cash. If a firm has made a sufficient provision in its allowance for doubtful accounts, reported earnings will not be penalized by bad debts when the bad debts occur. If uncollectible accounts are larger than expected, however, the firm will have to increase the size of the account and reduce reported income. [pic] There has been a sharp increase in allowance for doubtful accounts in the year 2001 which subsequently reduced. This can be linked to the increase in the credit they plan to give to the distributors owning to their expansion plans for the period and their recovery policy. The increase in doubtful accounts is a bad sign for the financial position for the company. 3. Depreciation: A  noncash expense  that reduces the  value  of an  asset as a  result  of  wear and tear, age, or  obsolescence. Most assets lose their value over time (in other  words, they depreciate), and must be replaced once the end of their useful life  is reached. Because it is a  non-cash expense, depreciation lowers the  company's  reported  earnings  while increasing  free cash flow. Calculated by two methods: 1. Straight Line Depreciation Method 2. Declining Balance Depreciation Method [pic] There has been gradual rise in the depreciation in the projected years. This can be related to increase in their number of assets (they are planning to buy more equipments and properties) which would lead to devaluation eventually. 4. Short-Term Debt: The account which comprises of any debt incurred by a company that is due within one year. The debt in this account is usually made up of short-term bank loans taken out by a company. The value of this account is very important when determining  a company's  financial health. If the account is larger than the company's  cash and cash equivalents, this suggests that the company  may be  in poor financial health and does not have  enough cash to pay off its short-term debts. Although  short-term debts are due within a year, there may be a portion of the long-term debt included in this account. This portion pertains to payments that must be made on  any long-term debt throughout the year. [pic] In initial years they heavily depended on short term debts. Over the years the financial health of the company improved which lead to the reduction in the debts. Owning to their credit policy and increase in investment in fixed assets, the company is not able to recover the money. This could have lead to increase in short term borrowings. 5. Accounts Payable: An accounting entry that represents an entity's obligation to pay  off a short-term debt to  its creditors. The accounts payable entry is found on a balance sheet under the heading current liabilities. Accounts payable are debts that must be paid off within a given period of time in order to avoid default. [pic] Increase in accounts payable shows that the company is making more purchases on credit. It could be due to taking more time to pay bills, buying more products on credit, paying higher prices for credit purchases. 6. Other Current Liabilities: A balance sheet entry used by companies to group together current liabilities that are not assigned to common liabilities such as debt obligations or accounts payable. Companies will group together these other current liabilities into one account on the balance sheet for the sake of simplicity. [pic] Since this category is made up of accruals and similar items, it increases as the company gets larger. It increased in 1999 owning to higher investment in Ukraine. The increase in the other current liabilities has been more or less stable in the projected years. 7. Total sources of cash: It is the sum total of all the components of sources of funds. [pic] Uses of Funds 8. Dividend Payments Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business (called retained earnings), or it can be paid to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend. [pic] There is a sharp increase in the dividend payment as the company is projecting a higher increase in their profits. The dividends are paid from the net income from the same year. Increase in dividend payments implies strong commitment to maintain higher level of dividends in the future. 9. Increases in cash balance Amount of available cash that a management decides to maintain in cash planning, to avoid or cover up cash shortfalls resulting from mismatch between cash inflows and outflows during an accounting period. [pic] The company is having optimum cash balance hence maintaining sufficient working capital. 10. & 11. Increases in accounts receivable Accounts receivable (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is typically done by generating an invoice and mailing or electronically delivering it to the customer, who in turn must pay it within an established timeframe called credit or payment terms. [pic] In Germany, the company has maintained a tight hold on the credit that they supply to the distributors; thus there isn’t a significant change in the accounts receivable as compared to Ukraine. pic] Increases in accounts receivable (Ukraine) that is disproportionate to any growth in revenue may indicate the company is having trouble collecting money from its customers. Depending on the company's cash situation, this could require the company to borrow money to plug the hole from the unpaid money it is owed by its customers. Eventual ly, the company might need to write-off some of these accounts receivable as bad debt, in recognition of the fact that some customers might never pay. In extreme cases, the company might run out of cash and have to shut down. 12. Increases in inventories Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. An organization's inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection. Inventory may also cause significant tax expenses, depending on particular countries' laws regarding depreciation of inventory. Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations hold larger inventories than their operations require in order inflating their apparent asset value and their perceived profitability. [pic] The fragile distribution system in Ukraine pre-2000 lead to increase in the inventories of the company as company is working on improving the distribution channel due to which the product flow has been projected to be smooth in coming years leading to decrease in inventory which is a healthy financial sign. 13. Increases in other assets Assets are economic resources owned by business or company. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks. pic] There is a negative growth in the increase in the other assets because of the depreciation of other assets and they are not planning to acquire any new assets in near future. By 2002 they are planning to buy enough assets just to overcome the negative growth. 14. Reductions in long-term debt Long-term debts are loans and financial obligations that last for over one year. For example, debts obliga tions such as bonds and notes, which have maturities greater than one year, would be considered as long-term debts. pic] Reduction in long term debts from 1998 to 1999 could be due to overnight success of the company in Ukraine. The sound financial condition of the company has ensured the stable repayment of long term loans and would continue to do so in future. 15. Capital Expenditures Capital expenditures (CAPEX or capex) are expenditures creating future benefits. A capital expenditure is incurred when a business spends money either to buy fixed assets or to add to the value of an existing fixed asset ith a useful life that extends beyond the taxable year. Capex are used by a company to acquire or upgrade physical assets such as equipment, property, or industrial buildings. [pic] The sharp increase in the CAPEX can be explained by the inflow of capital through long term debts and the operating profit the company is planning to achieve in the projected period. 16. Total uses of cas h: It is the sum total of all the use components in the fund flow statement. [pic] Break Even Analysis The break-even point for a product is the point where total revenue received equals the total costs associated with the sale of the product (TR=TC). A break-even point is typically calculated in order for businesses to determine if it would be profitable to sell a proposed product, as opposed to attempting to modify an existing product instead so it can be made lucrative. Break even analysis can also be used to analyse the potential profitability of an expenditure in a sales-based business. Breakeven analysis is a management accounting tool used for profit planning of a firm. Profit planning is a function of the selling price of a unit of product, the variable cost of making and selling the product, the volume of product unit sold and in case of multi-product companies, sales mix and finally, the total fixed costs. Breakeven point (for output) = fixed cost / contribution per unit. Break-even analysis is a technique widely used by production management and management accountants. It is based on categorising production costs between those which are â€Å"variable† (costs that change when the production output changes) and those that are â€Å"fixed† (costs not directly related to the volume of production). Total variable and fixed costs are compared with sales revenue in order to determine the  level of sales volume, sales value or production at which the business makes neither a profit nor a loss (the â€Å"break-even point†). Break even analysis depends on the following variables: 1. The fixed production costs for a product. 2. The variable production costs for a product. 3. The product's unit price. 4. The products expected unit sales. On the surface, break-even analysis is a tool to calculate at which sales volume the variable and fixed costs of producing your product will be recovered. Another way to look at it is that the break-even point is the point at which your product stops costing you money to produce and sell, and starts to generate a profit for your company. Break even analysis solves various managerial problems: †¢   Setting price levels: A price level is a hypothetical measure of overall prices for some set of goods and services, in a given region during a given interval, normalized relative to some base set. Hence with the help of BEP analysis a firm can determine the price level of product and particular sales volume which is necessary to produce an X amount of operating profit.   Targeting optimal variable/ fixed cost combinations †¢   Determining the financial attractiveness of different strategic options for your company. Break even Chart A breakeven chart is a strategic tool used to plot the financial revenue of a business unit against time or sales to determine the point when sales output is equal to revenue generated. This is reco gnised as the breakeven point. The information used to determine and analyse the breakeven point includes fixed, variable and total costs and the associated sales revenues. The analysis of a breakeven chart considers whether a venture runs at a profit or a loss. A sale above the breakeven point indicates continued and profitable growth. The principle of break-even theory is that during the early stages of a business venture, total costs, both fixed and variable, exceed sales. As output increases, sales begin to rise faster than costs and, eventually, they become equal (breakeven point). If sales continue to rise and exceed total costs, the business achieves profitability. The tool assumes that all the goods which are produced will be sold and that costs, namely the price, will remain constant. Likewise, it also relies on the capacity in terms of output to remain unchanged. Breakeven charts are universally applied to simply and graphically illustrate and forecast a company's projected revenue, and to calculate the time for profitability to be reached. It is used by financial and marketing strategists to predict the effect that changes in price will have on the percentage change in sales over time. It is also a useful tool to analyse the relationship between fixed and variable costs and to predict the effect on profitability of changes to those costs. Income Statements | | | | | | | |   |   |   |   |   |   |   | |Sales: Germany |62032 |62653 |64219 |66216 |68203 |70249 | |Sales: Ukraine |0 |4262 |17559 |25847 |37479 |48722 | |Total Net Sales |62032 |66915 |81778 |92063 |105682 |118971 | |Production Cost & Expenses |32258 |35366 |44271 49827 |61393 |71609 | |Excise duties |9143 |9108 |10486 |11557 |11625 |13087 | |Allowance for doubtful accounts |5 |7 |38 |24 |2 01 |60 | |Total Variable Cost |41406 |44481 |54795 |61408 |73219 |84756 | |   |   |   |   |   |   |   | |Administrative & Selling Expenses |12481 |13014 |16274 |18505 |18500 |18500 | |Depreciation |3609 |4314 |5844 |6068 |6766 |7448 | |Total Fixed Cost |16090 | | | | | | | | | | | | | | |(â‚ ¬ per hectoliters) | | | |Per unit Sales | |9206300/1173000 = | |78. 8508099 | | | |Per unit variable cost | | | | | |61408000/1173000 = | |52. 35123615 | | | |Contribution per unit | | | | | |Per unit Sales – Per unit variable cost = | |26. 3384484 | | | | | | |Breakeven Point = |Fixed cost/Contribution per unit | | | | | | | |24573000/26. 13384 = |940274. 633 | | | | | |Hence Number of units requires to be sold to reach breakeven point=940275 hectoliters | | | | | | | | | |Net Sale in year 2000 = 1173000 hectoliters | | |Revenue calculated from the sale of Breakeven volume sales = |breakeven point volume* per unit sale price |â‚ ¬ 73797559. 3 | | | | | |Total Variable cost at Breakeven Point = Breakeven volume * Per |940275 * 52. 32123615 = |â‚ ¬ 49224558. 57 | |unit variable cost | | | | | | | | Total Fixed Cost = â‚ ¬ 24573000 | | | | | | |Total cost of Production of Beer |Fixed cost + variable cost |â‚ ¬ 73797558. 57 | | | | | This analysis identifies the break-even volume, where revenues just equal total costs and Deutsche Brauerei recovers all its fixed cost at the break-even volume sale. Sales above Break-even Point will bring profits for the company. Margin of Safety (volume) = Total volume Sold – Breakeven volume 1173000 – 940275 = 232725 hectoliters Margin of Safety (Revenue) = per unit sale price * Margin of safety volume = 78. 48508099 * 232725 = â‚ ¬ 18265440. 47 Variable Cost for selling 232725 hectoliters = per unit variable cost * Margin of Safety (volume) = 52. 35123615 * 232725 = â‚ ¬ 12183441. 43 Deutsche Breuerei has already covered up fixed cost expense with break even volume sale hence they will make profit above the sale of break even volume. Net profit = Margin of Safety (Revenue) – Variable Cost for selling 232725 hectoliters = â‚ ¬ 18265440. 47 – â‚ ¬ 12183441. 43 = â‚ ¬ 6081999. 041 From the above analysis it is seen that as the volume increased above the break even volume, the profits rise disproportionately faster. The analysis of a breakeven chart shows that Deutsche Breuerei has to sell more than 940275 hectoliters of beer to start making the profit for the venture. A sale above the breakeven point indicates a continued and profitable growth, and venture makes a profit of â‚ ¬6081999. 041. Hence Deutsche Breuerei should stick to the current price level of beer and profit planning. Break even chart of Venture shows that if they can reduce the Production Cost in coming years through new facility and equipment they can increase the profits in long term. As the company is showing a healthy sales of good they can invest on production facility to reduce the per unit production cost and expenses to increases the overall profits. ———————– DEUTSCHE BRAUEREI Case Analysis- Question 2 MBA PHARM. TECH. (4th year) [pic] [pic] |ROLL NO. |NAME |ROLL NO. NAME | |38 |Devang Mehta |41 |Upasana Nagpal | |39 |Anand Menon |42 |Abhilash Nair | |40 |Manish Mishra |43 |Kadambari Narang | SCHOOL OF PHARMACY AND TECHNOLOGY MANGEMENT †0[pic]? 0[pic]? 0[pic]? 0[pic] 1[pic]†1[pic]x1[pic]|1[pic]? 1[pic]u1 [pic]2[pic]2[pic]2[pic]I2[pic]? 2[pic]N3[pic]l3[pic]A4[pic]A4[pic]? 4[pic]eOA »Ã‚ ­A »A »Ã¢â‚¬Å"| ­h ­Ã‚ »WI8A! h`fJh? *B*[pic]OJQJ^J[? ]ph333h? *B*[pic]CJOJQJph! hNu—h? *B*[pic]CJOJQJNet income =Revenue – Cost of goods sold – Sales discounts – Sales returns and allowances – Expenses – Minority interest – Preferred stock dividends