Sunday, May 24, 2020

Learn English With These Basic Conversation Skills

If youre just starting to learn English, theres no better way to improve your speaking skills than with basic conversation exercises. These simple role-playing games will help you learn how to introduce yourself, how to ask for directions, and more. With practice, youll be able to understand others and begin to enjoy conversations in your new language.  Below are links to some essential exercises that will help you have basic English conversations. Getting Started All you need to begin are the basic conversation guides youll find below and a friend or classmate to practice with. Be patient with yourselves; English is not an easy language to learn, but you can do it. Begin with the first conversation in this list, then move on to the next when you feel comfortable doing so.  You can also use the key vocabulary provided at the end of each exercise to write and practice your own conversations. Asking and Answering Questions Learn how to ask and answer simple  questions in English with these articles. Key skills covered include basic questions, polite questions, asking permission, and providing personal information such as your name, address, and phone number. Introductions Learning how to introduce yourself and greet people both formally and informally are essential skills in any language, whether its your own or a new one youre studying. In these lessons, you learn how to say hello and goodbye, as well as vocabulary that you can use when meeting new people and making friends. Telling the Time and Using Numbers Even if youre just visiting an English-speaking country for a few days, knowing how to tell the time is important. This role-playing exercise teaches you the right phrases to ask a stranger what time it is. Youll also learn how to thank the person who helped you, plus key conversation words. And if youre going to tell time, youll also need to know how to express numbers in English. This article will help you out with all kinds of numbers, including weights, distance, decimals, and more. Finally, when expressing quantities, English uses either much or many, depending on whether the noun is countable or non-countable. Speaking on the Phone Phone calls can be challenging for people who dont speak English well. Improve your telephone skills with this exercise and vocabulary quiz. Learn how to make travel arrangements and how to make purchases over the phone, plus other important words. Best of all, youll use the conversation skills you learned in the other lessons here. Shopping for Clothing Everyone loves to go shopping for new clothes, especially if youre visiting a foreign country. In this exercise, you and your practice partner learn the basic vocabulary that youll use in a shop. Although this particular game is set in a clothing store, you can use these skills in any kind of store. Eating at a Restaurant After youre finished shopping, you might want to eat at a restaurant or go to a bar for a drink. In these dialogues, you learn how to order from a menu and how to ask questions about the food, whether youre by yourself or out with friends. Youll also find a quiz to help you improve your restaurant vocabulary. Traveling at the Airport Security at most major airports is very tight, so you should expect to speak English with many different people when youre traveling. By practicing this exercise, youll learn how to have basic conversations when you check-in as well as when you go through security and customs.   Asking for Directions Its easy for anyone to lose their way when traveling, especially if you dont speak the language. Learn how to ask simple directions and how to understand what people tell you. This exercise gives you basic vocabulary plus tips for finding your way. Finally, youll want to know how to ask for a room at a hotel or motel once youve arrived at your destination. Going to the Doctor Nothing is worse than not feeling well and not knowing how to communicate with a doctor. These tips, vocabulary lists, and sample dialogues can help you practice making an appointment. Tips for English Teachers These basic English conversations can also be used in a classroom setting. Here are a few suggestions for using conversation lessons and role-playing activities: Ask students about their experiences in the situation featured in the dialogue. Solicit important phrases, grammar structures, and so on from the students and write them on the board.Introduce new vocabulary and key phrases to students.Pass out printed dialogue to students.Have each student take on a role and practice the dialogues in pairs. Students should take on both roles.Based on the dialogue, ask students to write out their own related conversations using key vocabulary.Have students practice their own dialogues to the point where they can  perform  short conversations  in front of the class.

Wednesday, May 13, 2020

Study Of Various Discounted Cash Flow Valuation Models Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 2937 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The paper is a study of various Discounted Cash Flow Valuation Models to value both equity and organizations. The difference between cash flow to equity and to an organization is studied. The basic Dividend Discount Model is studied with its various variants like Gordon Growth Model, two stage and three stage dividend discount models. Don’t waste time! Our writers will create an original "Study Of Various Discounted Cash Flow Valuation Models Finance Essay" essay for you Create order In the last two the values of extraordinary growth is separated from the value of steady state growth. There is a discussion of why free cash flows to equities different from dividends for a lot of organizations. The two and three stage FCFE models are described. An alternative valuing model FCFF has been described which discounts cash flows to the firm at the weighted average cost of capital. The advantages and limitations of each model is mentioned along with conditions of which model has to be applied under what conditions. VALUATIONS Determining the Present Value of the future cash flows of a company is the aim of any valuation technique. Generally investors buy stocks for as they expect that the future cash flows of the company will be high. Hence how much cash flow an asset is going to generate has to be calculated in order to determine the fair price to be paid for the particular stock. Price is that numerical figure at a moment when a transaction is completed when the market is in balance. It represents a snapshot of a dynamic market. Price is generally the function of demand and supply. Valuations are used by Fundamental Analysts, Franchise Buyers, Chartists, Information Traders, Market Timers and Efficient Marketers in different ways to suit their respective objectives. Valuations are also required in Acquisition Analysis and Corporate Finance. Valuations take into account future cash flows. Future cash flows can only be predicted or guessed with some amount of certainty. Hence even small errors lik e non payment of rent, etc could lead to an error in valuations. The more certain one is about the future cash flow, the valuations are correct to that degree of certainty. Therefore valuations a definitely uncertain. Valuations can be done by various methods and no one method is the best. Different methods have to be used under different circumstances. Valuation methods, generally, can be divided into three approaches Discounted Cash Flow method, Relative Valuation method and Contingent Claim Valuation method. All the above if used for the same valuation an give very different end results. DISCOUNTED CASH FLOW VALUATIONS The sources of uncertainties in valuations are rational and can easily be identified. For the purpose of our study for this paper, we will concentrate on the Discounted Cash Flow valuation method. This method is based on the thought that The actual value of any asset is its present value of the expected future cash flows that it will generate. Cash Flows will be different for every asset. To transform the value of future cash flows into present value, we use a Discount Rate. For some, this Discount Rate is the function of riskiness of estimated cash flows that is the rates will be higher for riskier assets and will be lower for safer assets. where DPV Value n life of the asset FV Cash Flow in time t i discount rate which reflects riskiness of the estimated cash flows There is a difference between Equity Valuation and Company Valuation. Either on the equity stake can be valued in an organization or the entire organization can be valued. In both the methods, the fu ture cash flows of the firm are discounted, the cash flows and discount rates taken into account are different. For an Equity Valuation, the expected cash flow to equity is discounted at the Cost of Equity while to value a company, the expected cash flow to the company is discounted at the Weighted Average Cost of Capital (WACC). Discounted Cash Flow Method is firms that have positive cash flows which can be estimated with certain amount of reliability for the future. The method cannot be used for firms in trouble, cyclical firms, firms that have unutilized assets, firms with patents, firms which are restructuring, the ones involved in acquisitions, private firms. The most commonly used methods by discounted cash flow in order to value companies are Free Cash Flow which is discounted at the Weighted Average Cost of Capital Cash Flow to equity discounted at the Rate of Return on Equity that is required Capital Cash Flow which is discounted at the Weighted Average Cost of Capital before tax Adjusted Present Value Risk Adjusted Free Cash Flow to a firm discounted at the Rate of Return required to the Assets Risk Adjusted Equity Cash Flow to a firm discounted at the Rate of Return required to the Assets Economic Profit which is discounted at Rate of required Return to Equity Economic Value Added which is discounted at Weighted Average Cost of Capital Risk Free Rate Adjusted Free Cash Flows which are discounted at the Risk Free rate of Return Risk Free Rate Adjusted Equity Cash Flows which are discounted at the Rate of Return required to Assets All the above methods giving the same end results is very logical as all the methods only differ in the cash flows taken at the start of the method but has the same of same reality and hypothesis. DIVIDEND DISCOUNT MODELS GORDON MODEL A very convenient and widely used Dividend Discount model includes The Gordon Growth Model. It can only be used for firms that have a stable growth rate. Po Value of stock D1 Expected dividends during next year k Required rate of return for equity investors g Growth rate in dividends forever This Model assumes that the growth rate in dividends is going to last till infinity and hence the same can to assumed for firms other measures of performance. A stable growth rate which has to be assumed has to be a very reasonable value as in the long term, the organizations growth rate cannot be more than that at which the economy operates. The above method is highly sensitive to the input of growth rate. As the growth rate will converge on discount rate, the value goes to infinity. It is best used for organizations whose growth rates can be compared to the nominal growth rate of the economy. TWO STAGE DIVIDEND DISCOUNT MODEL Another method is called the Two Stage Dividend Discount Model. It takes into account two stages of growth the first one which has a high growth rate and the next one which has a stable growth rate and is expected to be that way for a long time. Value of stock at present = (from 1 to n) ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‹Å" (Expected dividends per share in year t / ((1 + Required rate of return)^t)) + Price at the end of year n / ((1 + Required rate of return)^n) where Price at the end of year n = Expected dividends in the year n + 1 / (Required rate of return Growth rate forever after year n) The above Model faces a problem in specifying the length of the high growth period, as the growth is expected to decline and come to stable after this period, increasing this time period will increase the value. In reality, the shift from high growth rate to a stable growth rate happens gradually over time but this model assumes that it happens suddenly which may only be the practica l case for few. However the method can be used for firms which are expected to maintain the high growth rate for some time after which the reasons for high growth rate disappear. VALUE OF GROWTH The value of Growth is important to estimate which can be done using the two stage dividend model as high growth companies tend to have a very high price/earnings and price/book value ratios. Due to this investors end up paying higher premiums to own the stock. There are several factors which determine the value of growth. It depends on growth rates when the growth period is extraordinary. The higher is the growth rate during this period, higher will be the value of growth. It depends on How long will the extraordinary growth period last. The longer is this period, hence greater will be the value of growth. As and when projects start becoming more and more profitable, the growth rate increases and so does the resulting value from extraordinary growth. If the risk of the stock increases the corresponding discount rate will also increase thereby decreasing the present value to extraordinary growth. H MODEL There is The H Model which is used for valuing growth. It is a two stage growth model where the initial high growth rate decreases linearly with time to reach the steady state growth rate. If the growth rate suddenly drops from a high value to a low one, then the above value proves to be wrong. Also assuming that payout ratio is constant is also incorrect here as it usually increases and is not the same or both the phases. THREE STAGE DIVIDEND DISCOUNT MODEL There is also a Three Stage Dividend Discount Model which combines both the Two Stage model and the H model. It requires a very large number of inputs but also eliminates a lot of drawbacks from the above models. It should be used for organizations that have an extraordinary present growth rate, will maintain so for sometime then with a gradual decline will reach the steady state stable growth rate period. The Dividend Discount model is simple to use but is not really used for valuations due to its drawbacks and has limited applications in high dividend paying equities. The model can also be used for firms which are high growth and are not paying dividends with the consideration that the dividend/payout ratio is adjusted to show the changes in the expected growth rate. This model creates a tax disadvantage in case where dividends are taxed at a greater rate than capital gains. The model does show very impressive results over long periods of time. The model generally outperforms the markets in five year time frames. It is also biased towards finding low price/earnings with high dividends and high price/earnings with low dividends. FREE CASH FLOW TO EQUITY (FCFE) MODELS FCFE = Net Income + Depreciation Capital Spending ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚   Working Capital Principal repayments + New debt issues FCFE = Net Income + (1 ÃÆ'Ã… ½Ãƒâ€šÃ‚ ´) (Capital expenditure Depreciation) + (1 ÃÆ'Ã… ½Ãƒâ€šÃ‚ ´) ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚   Working capital Dividends are different from FCFE. FCFE measures how much an organization can afford to pay as dividends. Dividends paid from FCFE are different for different organizations for the below four reasons Organizations have a Desire for Stability where in they do not want to change the dividends as variations in dividends is considered to be a lot lower than variations in earnings and cash flows. Organizations may not pay dividends at all to meets its Future Investment Needs. It might require a lot of capital expenditure in the future and raising capital again is an expensive process. Tax Factors come into play where if Dividends are taxed higher than Capital gains then firms m ight again not pay out dividends. Organizations also use dividends as a sign of saying, with the increase in dividends implying is a positive sign while decrease in dividends a negative one. It is nothing more than a Dividend Prerogative. CONSTANT GROWTH FCFE MODEL The Constant Growth FCFE Model values organizations that are in a steady state ie have a stable growth rate. Po Value of stock today FCFE1 Expected FCFE over the next year r Cost of equity gn Growth rate in FCFE forever for the firm The model is very similar the the Gordon Growth model and hence all the above advantages and limitations apply to this model as well. TWO STAGE FCFE MODEL The above heading also contains a Two Stage FCFE Model and a Three Stage FCFE Model (E Model). The two stage FCFE Model has the same concept as had been described above. THREE STAGE FCFE MODEL OR E MODEL The E Model is used for organizations which are expected to initially grow with very high growth rates then come into a transition period where in the growth rate decline and then comes to a stable period where it is at steady state. Here assumptions about variables have to be consistent with the assumption of growth rates. As the organization moves from a high growth organization to a stable stead state one, the relationship between capital expenditure and depreciation is bound to change. Also as the growth patterns of the firm changes so does the Risk pattern consequently. The Model is very similar to Three stage dividend discount model. It is appropriate to use it in organizations which currently have a very high growth rate. Comparison between FCFE Valuations and Dividend Discount Model Valuations Same values can be obtained by using the above two only when either dividends and FCFE are equal or when FCFE is more than dividends, but the remaining cash is invested in projects which have Net Present Value as zero. The above two also provide with a different estimate when FCFE is more than dividend but the difference between the two earns interest lower than the market rates or is invested in negative NPV projects. If an organization pays out small dividends as compared to what it can afford, the debt/equity ratios decrease hence making the organization underleveraged which will also decrease value. In another case if too much dividends are paid out then simply loss of wealth happens with there are capital constraints to good projects. FREE CASH FLOW TO FIRM MODELS (FCFF) FCFF = FCFE + Interest expense (1 tax rate) + Principal repayments New debt issues + Preferred dividends FCFF = EBIT (1 tax rate) + Depreciation Capital expenditure ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚   Working Capital Difference in Growth of FCFE and FCFF The main reason for the difference in the growth rates in FCFF and the growth rates in FCFE is leverage. Generally, due to leverage, growth increases in FCFE. It affects the growth rate in Earning Per Share. However, growth rates in Earnings Before Interest and Tax, growth rates in depreciation, growth rates in capital expenditure and growth rates in capital spending all remain identical. STABLE GROWTH FIRM MODEL The above method includes Stable Growth Firm Model. Value of firm = FCFF1  / (WACC gn) where FCFF1 Expected FCFF over next year WACC Weighted Average Cost of Capital gn Growth rate in the FCFF To use the above model, the growth rate used has to be relative and reasonable as compared to the nominal growth rate in the economy at that particular time. Also, depreciation and capital spending should have a relationship which support the assumption of stable growth. A stable firm, generally, cannot have depreciation significantly lower than capital expenditure as there in no high growth and hence there is no need for additional high capital expenditure. The model is also highly sensitive to the expected growth rates that are used for calculations. It is also sensitive to assumptions about capital expenditure with respect to depreciation. The value of FCFF can be adjusted by adjusting the value of capital expenditure with respect to depreciation. TWO AND THREE STAGE FCFF MODEL There are also a General Version of the FCFF Model which are also the Two and Three Stage versions of the FCFF Model It can be used to value any firm where FCFF can be forecasted with available sufficient information. Value of a Firm = where FCFFt Free Cash Flow to firm in year t The above model values organizations and not equity, however, the value of equity can be calculated by subtracting the market value of debt which is outstanding. The advantage of using FCFF over FCFE is that cash flows related to debts do not have to be accounted for separately. Where ever there is leverage which is expected to change largely with time, this turns out to be a significant saving. Also FCFF does not required any information regarding debt ratios or even interest rates to find out the Weighted Average Cost of Capital. The model is best suited to use for by organizations that have a high leverage or the organizations that are in the process of transforming their leverage. Using FCFE has a drawback that it frequently turns out to be negative in cases with high leverage and cyclical organizations. CONCLUSION After looking at a number of different models applicable to various situations, it is a fact that a lot of time and resources get wasted in trying to fit the data to a valuation model. We cannot call any one model as best. It depends upon the following factors What are the level of earnings of an organization. Has it lost or gained money, the ones that have gained money are easier to value than those which have lost it. The choice of the model also depends upon the level of current growth found in earnings. For firms with stable growth rates, the Gordon growth model, and stable FCFE and FCFF models should be used. Examining the sources of growth is also important. High growth can be due to competitive advantage due to brand building or reducing production costs or patent advantages. There can be other competitive advantages the speed of whose loss depends upon the competences of the organizations management and the entry barriers for that particular industry. Also, t he ease of use decides the choice between cash flows to organization and cash flows to firms.

Wednesday, May 6, 2020

Jacksonian Democrats Dbq Free Essays

The election of 1828 is viewed by many as a revolution. Just as the French Revolution marked the end of aristocratic rule and the ascent of the lower classes, the election of Andrew Jackson as the seventh president of the United States likewise marked the end of the aristocratic â€Å"Virginia Dynasty† and the ascent of the common man. While Jackson was a hero of the people, having routed the British at the Battle of New Orleans and having clawed his way from poverty to wealth, he was elected primarily because his followers believed he stood for certain ideals. We will write a custom essay sample on Jacksonian Democrats Dbq or any similar topic only for you Order Now The Jacksonian Democrats were self-styled guardians of the United States Constitution, political democracy, individual liberty, and equality of economic opportunity. As a strict constitutional constructionist, Jackson indeed guarded what he considered the spirit of the constitution. This is borne out in his handling of South Carolina’s Nullification Crisis. By passing the â€Å"force bill,† Jackson made a statement that the position of John C. Calhoun and his home state was unconstitutional, and that he, as president, was prepared to back his ideals with force if necessary. Jackson further advanced his strict constructionist position through his handling of the â€Å"Bank War. † Nowhere in Article I, section 8 of the Constitution is the authority to create a national bank given to congress. By allowing Roger B. Taney to assist in withdrawing the federal treasury from the Bank of the U. S. and subsequently depositing the funds into regional â€Å"pet banks,† Jackson effectively disassembled what he viewed as a â€Å"monopoly of the foreign and domestic exchange† which was not â€Å"compatible with justice, with sound policy, or with the Constitution of our country. (B) Jackson’s position on the Bank of the United States also illustrates his commitment to political democracy. The Bank re-charter of 1832, though designed by Webster and Clay to embarrass Jackson publicly, backfired on the opponent Whigs. In his bank veto message of 1832, he pointed out the dangers of control of the institution by foreigners and the American mone y-elite. After all, Jackson noted, â€Å"[i]s there not danger to our liberty and independence in a bank that in its nature has so little to bind it to our country†? B) This grassroots commitment resulted in a surge in reform movements throughout the nation. The Working Men’s Party, for example, espoused the enlightenment philosophy of the Declaration of Independence in its belief that â€Å"all men are created equal. †(A) Harriet Martineau, a social observer, was indeed shocked at the absurdity of the debate â€Å"’whether the people should be encouraged to govern themselves, or whether the wise should save them from themselves. ’† Her amazement stemmed from the fact that she had observed â€Å"every man in the towns an independent citizen; every man in the country a landowner. (D) Political democracy, after all, had swept the nation. Just as his bank veto message had made apparent his support of political democracy, it also established Ja ckson as a champion of individual liberty; still, it must be made clear, that the only individuals who were beneficiaries of liberty were, in fact, white male â€Å"citizens. † The painting â€Å"The Trail of Tears† serves as a painful reminder of Jackson’s prejudiced policy of Indian Removal and the Cherokee Nation v. Georgia and Worcester v. Georgia cases. G) Ironically, Jackson’s reputation as a hero and champion of the people stems, in part, from his legendary Indian battles such as Horseshoe Bend and those with Chief Osceola and the Seminole nation. The Seneca Falls convention, while accomplishing little in the way of reform, sadly points out the inequity which existed for American women. Philip Hone, a member of the opposition party, the Whigs, points out the inequality of immigrants. He recorded in his diary â€Å"the disgraceful scene which commenced the warfare†¦. A band of Irishmen of the lowest class came out†¦armed with clubs, and commenced a savage attack upon all†¦. †(E) Perhaps the most tragic disgrace of all—the enslavement African Americans—is pointed out by the Acts and Resolutions of South Carolina. The legislature of South Carolina requested that federal laws be passed to make it illegal to print or distribute material which had the â€Å"tendency to excite the slaves of the southern states to insurrection and revolt. (F) The final ideal of which Jacksonian Democrats considered themselves champions was equality of economic opportunity. Jackson’s veto of the Bank Bill vividly illustrates this point. â€Å"It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. †(B) While Daniel Webster, a Whig opponent, publicly denounced Jackson’s veto as â€Å"executive pretension,†Ã‚ © Jackson firmly believed â€Å"that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few men irresponsible to the people. (B) Jacksonian commitment to equality of economic opportunity is further espoused in the opinion of Jackson’s Supreme Court appointee, Chief Justice Roger B. Taney, in the Charles River Bridge v. Warren Bridge case. While Jackson’s arch-nemesis John Marshall had cleared the way for competition in Gibbons v. Ogden, Taney pointed out in characteristic Jacksonian fashion, that charters, like the Constitution, must be interpreted strictly. â€Å"There is no exclusive privilege given to them over the waters of Charles River†¦. (H) Here, surely, is commitment to equal economic opportunity. So powerful was the figure Andrew Jackson that an entire era of American history bears his name. His administration marks a fundamental paradigm shift in American ideals. Despite his opponent’s branding him a tyrant and labeling him with suc h unflattering monikers as â€Å"King Andrew,† President Jackson left an indelible mark on history as a champion of the U. S. Constitution, defender of political democracy and—to some extent—personal liberty, and equality of economic opportunity. How to cite Jacksonian Democrats Dbq, Papers

Tuesday, May 5, 2020

Risk and Return in Financial Statements-Free-Samples for Students

Questions: 1.Discuss about the Risk and Return in Financial Statements. 2.Discuss about the Risk and Returns in Investment Decisions. Answers: Introduction An accountant is a very important part of every business organization whether small or big. An accountants primary duty is to compile every financial transaction and present them in a concise manner which allows the stakeholders to understand the effect of financial transactions and they're after effects (Porter Norton, 2014). In case the accountant is fully capable of understanding financial transactions and its effects, an organization shall never be left deprived of financial viability. However, an accountant should be technically sound and updated of the accounting updates and accounting standards applicable for the organization (Bodie et. al, 2014). An auditors role is half done if the accounting has been properly done and documented. In case the internal controls of the company are sound and properly placed, the auditor can rely on the internal controls also. 1.Risk and Return in Financial Statements The accountant should properly understand the risk involved in the business and the effects of the nonidentification of risk. We would like to explain the above point with an example: ABC Limited is a bank operating in Australia having thousands of customers having deposits, investments and loans disbursed simultaneously. The risk involved in the accounting of a bank is as follows: Confidential data of clients like KYC details, bank details, and their credit profile- in case these details are compromised, the bank may land up in a big problem. The risk of loans becoming irrecoverable due to non understanding of credit profile of a person at the time of granting loans. Dependency on IT infrastructure and database responsible for storing customers and its failure. An accountant has to fully understand the risk involved in any business and properly place or recommend internal controls for detection and prevention of the risk involved. An accountant should properly get training and increase his skills to understand and make an attempt to minimize man-made errors or risk (Deegan, 2011). For example thorough understanding of the accounting principles and the accounting standards, understanding of the IT software and infrastructure etc. 2.Risk and Returns in Investment Decisions In case the accountant feels that the investment decisions made by the management are not financially viable, he may recommend some changes in the investment plans. This is only possible if the accountant has a profound knowledge about the risk and returns of investment decisions he should explore all possible and available investment options in the market (Davies Crawford, 2012). He should also measure the opportunity cost involved with every investment option and should try to increase the return with minimum risk with a long-term investment vision as well. He can also use analytical skills and formula like ratio analysis, percentage calculations, last year trends, investment credit ratings and past profile of the investment options and only after this analysis, we should consider and recommend the investment to the top management through his reports (Graham Smart, 2012). The ultimate goal of the investment decisions is to maximize return at minimum possible risk. All this can be accomplished by an accountant when he has proper knowledge about the market returns and the risk factors included therein. Hence, the learning of risk and return is very vital for an accountant if he wants to fulfill his duties and responsibilities most efficiently. For example, there are four investment options available in the market namely : Investment in equity shares having low return with higher risk attached. Investment in preference shares- less return with less risk. Investment in debentures- medium return with less risk. Investment in Bank Deposits- moderate return with least risk. Now, the accountant should understand the concept of risk and return in these investments and further the investment needs of the company on whether and in which segment the company needs to invest and how much risk the company is able to bear. On the basis of the assessment made, an accountant should make the investment with available resources and should make his investment decision (Berk et. al, 2015). He may use the formula for lowest cost of capital and then accordingly invest in the market. In case the company is well placed in the market and wants to take ownership in any company or subsidiary, it may directly purchase or invest in their equity share capital which shall give them ownership but on the other hand, it may be a riskier option as well. On the other hand in case the company does not want to take any risk it may invest in any companys debentures or preference shares which ensure moderate returns but a safer option on the whole. Hence, it depends upon the risk-bearing capacity of the company (Petty et. al, 2012). Of all the options above the least risky option are bank deposits. Another example can be taken for the investments in shares of different companies. If a company generally invests in shares of other companies like construction companies, banking companies etc, it is very important that the credit rating of such companies should be checked first (Arnold, 2010). Also, the price trends of the company should be analyzed before investing to avoid probable losses. These recommendations can be given by an accountant only if he has known about the risks and returns associated with such investments Conclusion Hence, the learning about risk and returns is very important for an accountant if he wants to fulfill his job commitments and his job responsibilities. If we talk about the returns, the accountant is supposed to go through the incomes earned and the sources of income and also the expenses incurred during the compilation and summarizing of accounts. This is to be done so that the discrepancies can be found out in comparison to the projections made by the company in the previous year for the expected returns to the company. The perspective of returns is different for different kinds of companies. For example, the returns can be either in the form of dividends or the retained earnings. The accountant can assess the risks and returns in financial statements when he has proper accounting knowledge and about the different risks and returns. References Arnold, G 2010, The Financial Times Guide to Investing, Prentice Hall. Berk, J, DeMarzo, P Stangeland, D 2015, Corporate Finance, Canadian Toronto: Pearson Canada. Bodie, Z, Kane, A. Marcus, A. J 2014, Investments, McGraw Hill Davies, T Crawford, I 2012, Financial accounting, Harlow, England: Pearson. Deegan, C. M 2011, In Financial accounting theory, North Ryde, N.S.W: McGraw-Hill Graham, J Smart, S 2012, Introduction to corporate finance, Australia: South-Western Cengage Learning. Petty, J. W, Titman, S., Keown, A. J., Martin, J. D., Burrow, M Nguyen, H 2012, Financial Management: Principles and Applications, 6th ed., Australia: Pearson Education Australia Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learnin

Tuesday, March 31, 2020

Truman S Harry Essays - Presidency Of Harry S. Truman,

Truman S Harry Truman was a simple honest man. His impact on world history however was much more than simple. In his life he would take part in both world wars and serve two terms in office as president. Truman was born in Lamar, Missouri, on May 8, 1884. His full name was Harry S. Truman. The S did not stand for anything but was put there to appease his two relatives who's names started with s. He was the eldest of three children with a younger brother Vivian, and a younger sister Mary Jane. His parents were not rich but his mother, Martha Ellen Young Truman, always found that money was there for piano lessons or books. Truman moved to Independence when he was six. He went to the Presbyterian Church and attended Sunday school (he met his future wife Elizabeth Wallace here). Truman began school at eight years of age. His two passions, reading and music, helped him gain a strong education and high grades. His large glasses and vast knowledge also alienated himself from other children. After graduating in 1901, his future was unclear. His poor eyesight barred him from military service and his families financial situation would not allow him to go on to college. Truman worked as a time keeper for thirty five dollars per month at Sante Fe Railroad. He still read up on histories and encyclopedias when he could find the time. He moved to Kansas City and worked as a clerk for the Kansas City Star, he then began work at the National Bank of Commerce and finally the Union National Bank's book keeper. He returned home in 1906 after his grandfathers death. The family had inherited a farm in Grandview Missouri and for ten years Truman worked and became quite a successful farmer. He had his first small taste of politics when he joined the local democratic party organization, run by Mike Penergast. He was made Grandview Postmaster. Truman invested some money in Lead mines and then oil fields. He sold his stocks and enlisted in the United states army in 1917. Truman trained in Oklahoma, at a military base called Fort Sill. He became a recruiter in Missouri and the Missouri Second Field Artillery elected him first lieutenant. He sailed for France in march 30, 1918. He was made captain of Battery D (nick named Dizzy D), tamed their rowdy ways and lead them to glory in the battles of Saint-Miheal and Argonne. Truman finished the war a Major and returned home in April of 1919. Truman married Elizabeth Wallace on June 28, 1919. Truman opened a clothing store for men with his friend Eddie Jacobson in Kansas City. The store was quite successful and many of the veterans of the Dizzy D's were repeat customers. The store lost money when farm prices dropped in 1920 and finally shut down in the winter of 1922. Truman however paid his debts and never declared bankruptcy. Truman looked for help in his old acquaintance Pendergast. He was entered in a four way democratic primary for a judgeship in eastern Jackson County. One of his opponents was backed by the kkk. Truman was asked to join, however, he rejected their racial attitudes towards blacks, and religious hatreds to the Jews and Catholics. Pendergast withdrew the entrance money. Truman did however run, his war record and previous work and Missouri were the basis of his campaign. He was successful in the primary and was sworn in on January 1923. This was his first public office position. His duties as county judge left him with a one million dollar debt and roads and buildings to be maintained. In his two year term he lowered the debt by 600,000 dollars and helped to improve the roads. In 1926 Truman was made court judge. He quickly exposed and fired many of Pendergast's corrupt members and cleaning the corrupt political machine. He appointed independent commissions to look into roads and buildings, secured low interest loans, hand picked the architect to rebuild the court house and hired respectable workers. He received a second term as the county judge. The son of the now late Mike Pendergast, Tom, asked Truman to run for the senate in 1935. Truman came to power playing on the popular New Deal. He was sworn in as Junior senator of Missouri on January 3, 1935. In the Senate, Truman was not trusted for his dealings with Tom Pendergast. The white house was uncovering the Pendergast

Saturday, March 7, 2020

Research Methods Essays

Research Methods Essays Research Methods Essay Research Methods Essay Overview of various research methods When writing a Research Paper it is important to know different research methods. These methods help to gather and systematize the information and data In order to scientifically prove the validity of the work. Further will be explained ways how to collect the data. Research methods are divided In two big blocks: quantitative and qualitative. Quantitative methods are those where results are explained In numbers, whereas qualitative methods define outcomes by what respondents answer. It Is more objective and more open, as results are not described by numbers, but rather as observations. To put both methods differences together: quantitative look more for statistical explanation, but qualitative are more in-depth. 1 Further will be in more detail explained methods that lay under quantitative and qualitative. There are many ways how to collect data for the research. One of them is doing experiments. It usually involves small amount of people who are doing some tests, for example, detecting how fast people read, what affects their reading skills and other objectives. This method is very in-depth and counted as qualitative as the behavior people is investigated in order to conclude some outcomes. One of the minuses of such methods is that it only researches small group of the society and does not give overall overview for all public. 2 Second type of methods is surveys. Surveys are conducted when a researcher wants quickly to gather a big amount of data. They have low cost, wide range of respondents, easy to conduct and systematize the results. Surveys are usually in a written form and they can be transferred to people in various ways- through e-mail, Web pages or questions can be asked in a person or through telephone call. This type also has few flaws- not all participants will answer to all questions, meaning they can skips some parts, it usually has a low return rate of answers and It also cannot present all society. 3 Third type of how to collect data for research Is to conduct a questionnaire. Questionnaire similarly to survey Is a method where Information Is gathered from a big amount of people and It Is analyses quantitatively and systematically. The pluses of such method are: easy and quick to fill In, easy to analyses the data and It Is easy to port the results. In questionnaires It Is Important to keep questions simple as people are usually lazy and not so eager to read long and complicated questions. A very good approach is to ask short answers and multiple choice answers for a quick response. It allows people just to circle the option and rapidly go to the next inquiry. For example, a question: How many hours do you sleep in a night? In a multiple placed a line where to write the number of hours. This shows how simply questions should be made. Moreover, questionnaires should not involve any sensitive topics, only general and common themes. Fourth type of research methods is interviewing people. It is not common to have yes/ no questions in this type, as the aim of it is to collect more in-depth data and have an open discussion with the respondent. Firstly, the interview has to be properly planned. It is relevant to create a pleasant atmosphere for a participant. If interview process will be chaotic and unplanned, researcher will not hear any true answers. For example, when interviewing a director of a bank. Researcher has to set a goal and objectives of the interview- what needs to be found out? Also it is important to come prepared not only with questions, but also materials which record the answers, such as paper, pencils or maybe a recorder. If a researcher wants to record the conversation with an electronic device a permission of the respondent has to be asked prior to the session. One of the drawbacks of recording an interview is that usually people are more thinking what they say and it can happen that half of the answers will be very short and lacking details, when purpose of the interview is getting deep explanation. 5 Fifth type of research method is observation. It can be an observation of a person or of some activity or some model. This method can include when over seeing what people do, what is their behavior, their relationship with others. Observation can also be on some cases or models, or even comparing two or more activities and making conclusions. This is more called analysis and is very detailed in its structure; therefore it is one of the qualitative methods. In conclusion, in this essay were described most popular research method types, which can be used almost by every chosen topic to investigate. Before choosing a epic it is important to consider what kind of data researcher wants to collect- quantitative or qualitative, because method aims differ. Surveys and questionnaires are used to collect quantitative and objective data, whereas interviews, experiments and observations are used to gather qualitative and subjective data. 2) Most suitable research methods for topic Marketing approaches in Real Estate companies in Riga In this research aim will be to explore what are the common marketing strategies which real estate companies utilize in Riga and what they aim at. Methods will be seed on three biggest real estate companies in Riga- Lotion, Arcos and Boer Hausa. Further will be explained most suitable research methods in order to achieve goal to get to know scheme of marketing in capital of Latvia. Impossible to do quantitative research methods. First of all, real estate companies do not present their marketing strategies, where they aim at the public, secondly the aim of research is to explore marketing strategies in depth, and therefore qualitative approaches will be used. Secondly, questionnaire and survey are given to a big amount of people, usually to a public. In this case, the goal is to get to know companies internal marketing strategies not to find out what society thinks about real estate advertising campaigns. Thirdly, quantitative methods would give numerical outcomes, meaning results will be expressed in numbers, whereas in this Research Paper the definitions of marketing strategies have to be explored. Therefore as defined above to reach the target qualitative methods must be used such as interviews and experiments. One of the qualitative approaches, which will be suitable for investigating real estate company marketing strategies, is interviews. This method will help researcher to have an insight into the companies policy and get more detailed view what is going on in the market of Latvia. The interview will be recorded either on recorder device or on the paper, which will help better to describe information in the Research Paper. Interviews will take place in real estate companies in Riga such as Lotion, Arcos, Boer Hausa and other enterprises. Marketing managers will be interviewed. If they will not be available, then discussion will be done with managers who are aware of companies marketing policy. By interviewing managers and professionals in arresting field who work in the companies, researcher will obtain very important and objective information of where these companies aim and how to they reach their target audience. Author will also try to collect information what are the most important target audiences and how to they get to them. It will promote a better understanding of each company policy and methods they use to maintain it. Therefore, main objective of the interview will be to find out what the society groups they focus on and what approaches they use to make them their customers. Second qualitative method will be used after having done the first one. In interview researcher will obtain information where companies publish their information and what parts of society they aim at. After this method, observation, comparison and analysis of these companies will be done. Here will be observed Web sites, magazines, radio and social media- everything where companies post and publish their information. It means that everything where real estate companies place their advertisements will be compared and analyzed through marketing theory.

Thursday, February 20, 2020

American history Essay Example | Topics and Well Written Essays - 750 words

American history - Essay Example The revisions made on the book have been aimed at getting the complete attention of his students and according to him those who have tried reading it find it indispensable. This book provides fresh evidence in each chapter that it contains and also includes other recent research findings that have been made by scholars. It provides details on the wars that occurred between the natives and the colonials in the 18th and 19th centuries. The wars that took place between the Indians and French people have also been detailed by the author. The author has provided information concerning the activities of the Indians and their relations to the settlers who came into the country. Most of the book’s chapters speak on issues that are fundamentally the same though they have been reorganized to become more appealing to the student. This book also speaks about the treatment that different people got for their religious beliefs along with the practices of the protestant denominations existin g in America during the 19th century. In addition, the issue of slavery and a history of the southern part of the country have also been highlighted. The author describes the causes and events that led to the Mexican war, immigrants who came to the country due to the Irish famine and the issues of political machines in American towns. Unlike the previously released editions, this book talks about the racial issues that took place within the country in the 20th century and brought about the rise of civil movements during the 1950’s. Finally, the book provides a history of the country’s social along with culture and an insight into the religious practices of the 20th century. The book by Conlin does not however tell us how the early American history has affected the current lifestyle of the American people. The source confirms the picture of the history of early America by using the findings from the works of other research as information sources. Castillo, P. (2000). Th e American Beginnings to 1877. New York: Prentice Hall. Has the early American history affected the way the country currently relates with other countries around the globe? This book tries to ascertain the American history up to around the year 1877 and highlights other activities that have taken place since then. The author of this book is also a professor and targets students who are undertaking American history. His book provides greater insights into issues like the European exploration of the country and the activities of the colonial period. It also provides details concerning the American Revolution and the early formation of a republic, the country’s constitution and the growing of a youthful nation under the stewardship of Thomas Jefferson. The author has provided insight into the union’s problems and the issues that threatened its unity. This book describes issues concerning the problems that immigrants encountered upon entering the country along with the dif ferent rights that have been accorded to the people. The cultural clashes that occurred when various people were settling on the western prairies, on their great plains and the activities of the populist movements have also been described by the author. This book differs from the book by Conlin since it describes how the new industrial period came into being, the expansion of American industries, railroads and labor markets. The book has also provided insight into the immigrants who were coming into the country, the challenges that the country