What were the reason for, waht are the clained advantages of, the Essay

What were the reason for, waht are the clained advantages of, the adoption in Australia of international financial reporting standards(IFRSs) - Essay Example This will be a more adaptive way of comparing financial information not just within Australian companies but the Australian corporate sector with the international corporations. along with comparison, it will also make the allocation of capital across borders more efficient. Furthermore, different arrays of national standards which are a lot different in their functionality, on its own places a high cost on capital markets. a constant portion of these costs is directly put on the companies who have to meet the multiple standards to raise capital in different markets. the IRFS bears the answer to provide relief for both corporate governance and the stakeholders (Antill & Lee, 2005). In today’s global world, economic relations with other countries are increasing at a much faster rate than before and especially for Australia where foreign trade is much more than the GDP. This has resulted in a substantial increase in the number of different multinational corporations out of Australia, and many of these companies have their focus on Asian markets among others for their revenues. Furthermore, as these economies themselves develop this makes it even more relevant for IFRS to be adopted in Australia (Nobes, 2006). In these global markets, the IFRS gives investors a more clear view of the companies as barriers to international financial investment have fallen in markets around the world. These investors can now trade securities of these Australian multinational companies without any constraints. Moreover, these investors may be pretty much responsible for trading of almost half of all the shares of the companies which are floated in the Australian market (Nobes, 2006). As cross-border financial investment increases, capital markets become more dependent on each other. This means that shocks felt in one market reverberate around

CRIMINAL JUSTICE 1 question drugs Coursework Example | Topics and Well Written Essays - 500 words

CRIMINAL JUSTICE 1 question drugs - Coursework Example In truth, Colombian drug organizations and Mexican drug organizations have traditionally taken different roles in the drug trafficking chain. In the article by Lyman (2011), the relationship started with Mexican drug organizations acting as surrogates and partners of their Colombian counterpart drug organizations – taking advantage of the borders between Mexico and the United States to smuggle in cocaine from Colombia (page 136). However, towards the end of the 1980s the Mexicans were no longer satisfied with being mere conduits and wanted a share both of the drug loot and the U.S. markets. Lyman explained the consequence of this: Eventually, this arrangement with the Colombians not only resulted in dividing the cocaine shipments down the middle but in dividing much of the U.S. markets down the middle. As the arrangement evolved over time, the Colombians retained the wholesale market in the eastern United States as their own, and Mexican drug cartels took over the wholesale market in the Midwestern and Western states. According to Bagley (1988), the expanded role of the Mexicans in the drug trade had created, in his words, â€Å"an unprecedented wave of drug related violence in Mexico that seriously threatened the country’s fledgling process of democratization. (page 71)†. And this begins to answer the question as to whether or not these drug cartels are as much of a threat to the United States as traditional terrorist organizations. In fact, it may even be argued that drug cartels are even more of a threat to the United States than the terrorist networks that people have come to associate with Islamic fundamentalist groups and the like. For one thing, the scale of violence wrought by drug organization can perhaps rival that of traditional terrorist organizations. Colombia’s principal guerrilla organization, the Fuerzas Armadas Revolucion de

Investment Appraisal Decision Making

Investment Appraisal Decision Making 1. INTRODUCTION The research is undertaken in the partial fulfillment of degree of MBA. The dissertation focuses on the investment appraisal in the Indian hotel industry. Shareholders and Creditors invest capital in an enterprise in the hope of gaining a return. For loan creditors they require interest plus a return of their capital, while shareholders require dividends and maintenance or increase of share prices. The capital invested is channeled through the enterprise and invested in capital projects, which must generate returns commensurate with the expectations of the providers of that capital. Capital investment within any organization is crucial and important for the organizations well being and long time survival. Capital investments are those which have long-term effects on the organization by providing benefits over a number of years. This dissertation also shows the different types of investment appraisal and shows the company where to invest and where to not invest. Questionnaire is desig ned to collect primary data along with secondary data collected during literature review. Conclusions will be based on the basis of data collected from questionnaires. Secondary data and recommendations will be presented that will enhance the decision making process made in the Indian hotel industry by the investment appraisal methods. 2. OVERVIEW OF INVESTMENT APPRAISAL Capital expenditure decisions are crucial to the long-term viability, success and survival of a company. Capital investment appraisal provides a framework in which capital projects can be considered, screened and evaluated. Because of the inflexible nature of capital projects, risk and uncertainty, and environmental change, e.g.; the tax factor, changes in government policy and technological change, it is essential that they are carefully selected, to ensure that they will help the organization to achieve its objectives. Therefore, Investment decision is one of the key decision areas of financial management. An investment decision can be defined as one that involves the firm making a cash outlay with the aim of receiving, in return, future cash inflows. Decisions about buying a new machine, building a factory, extending warehouse, improving a delivery service, instituting a staff training scheme or launching a new product line are all examples of investment decisions that need to be made by the industry. In order to make such decisions and to ensure that they are consistent with each other, a common method of appraisal is required which can be applied equally to the whole spectrum of investment decisions and which should help to decide whether any particular investment will assist the company in maximizing shareholder wealth. Therefore, investment appraisal methods cannot replace managerial judgement, but they helps to make that judgement more sound. Investment appraisal is also referred to as ‘capital budgeting (Lumby. S, 1988). The decision making consists of different stages: Planning Identifying the alternatives to be considered and their transformation into workable proposals. Appraising the alternatives and selecting the best one with regard to the organ isations goals. Implementing the decision. Reviewing the selected investment project (RÃ ¶hrich. M, 2007). 3. RESEARCH AIMS OBJECTIVES Every organization has problems in its investment areas, so an appropriate investment appraisal is required to solve these problems.The role of investment appraisal is to ensure that appropriate information is gathered relating to the investment alternatives. Capital investment decisions allocates resources within the organization to offer the best potential of meeting its objectives. It maintains and improves profit performance and increase market share. It achieves a balanced product portfolio. Investment appraisal methods are relevant to all decisions that form part of the investment planning process. Understanding different investment appraisal methods, their assumptions, limitations and possible usages will lead to an increased understanding of different decision making and an informed choice of methods. This should greatly enhance decision making in regard to both single investment projects and investment programmes. It enhances various alternatives to use different methods of investment appraisal to make business decisions. It also develops higher order skills through having to consider other factors, apart from quantitative methods, that a business might have to consider in making business decisions. The main goal of long term decision making is that the firm must handle the investment in order to earn profits greater than the funds committed. In order to handle these decisions, firms must have to make an assessment of the size of the outflows and inflows of funds, the lifespan of the investment, the degree of risk attached and the cost of obtaining funds. The main focus of this research is to analyze the decision making process made in the Indian hotel industry by the investment appraisal methods. Taj Residency Plc, Abad Plaza Plc are the hotels in India which are included in this research. This dissertation will try to answer following questions using investment appraisal methods depending on problems identified during the analysis and searching for a lternatives. Key considerations in making investment decisions are: Should an investment be undertaken or rejected? In the case of mutually exclusive investment projects, which one should be preferred? For how long should n investment project should be utilized? When should the investment project be started? What is the scale of the investment can the company afford it? How long will it be before the investment starts to yield returns? Which of the investment projects should be preferred and carried out when limited financial budget restricts the number that can be undertaken t the same time? How long will it take to pay back the investment? What are the expected profits from the investment? Could the money that is being ploughed into the investment yield higher returns elsewhere? Does the proposed investment fit in with the organizations strategic objectives? What are previous proposals to see which techniques the organization uses? How the organization allows for risk and inflation in investment proposals? Which investment appraisal techniques would the companies wish to consider for making long term investment decision? Investment appraisal in the Indian Hotel Industry Hotel Industry in India has made tremendous boom in the recent years. Hotel Industry is inextricably linked to the tourism industry and the growth in the Indian tourism industry has fuelled the growth of Indian hotel industry. The hotel industry and tourism industry in India are straightly linked to each other. Revenues of Hotel and Restaurant (HR) industry in India during the financial year 2006-07 was INR604.32 billion , a growth of 21.27% over the previous year, primarily driven by foreign tourist arrivals ,which increased by 14.17%. at present, there are 1,980 hotels approved and classified by the Ministry of Tourism, Government of India, with a total capacity of about 110,000 hotel rooms. The tourism industry is showing excellent performance, in terms of foreign tourists arrival. It is estimated that over the next two years 70,000-80,000 rooms will be added across different categories throughout the country. The thriving economy and increased business opportunities in India have acted as a boon for Indian hotel industry. The cheaper airlines rates to India has also made growth in the domestic and international tourists which helped the industry very successfully. In recent years the Indian government has taken several measures to boost travel tourism which have benefited hotel industry in India.Investments in tourism infrastructure are essential for Indian hotel industry to achieve its potential. But instead there are few challenges faced by the Indian Hotel industry. They are lack of cost structure, shortage of efficient manpower, shortage of resources etc, so an appropriate investment appraisal is required to select and monitor the investments properly. The hotels which are included in this research are Taj Residency Plc, Abad Plaza Plc. Taj Residency Plc is a five star hotel which is situated in Cochin, kerala, India. Its a hotel which consists of 108 rooms including 12 spacious suites. The hotel provides all the services for the customers. The hotel is situated near to the sea, so it focuses mainly on international tourists. The Taj Residency Group is focusing on building a new hotel under the same name in another place in kerala, India. Abad Plaza Plc is a five star hotel which is situated in Cochin, kerala, India. Its a hotel which consists of 80 fully furnished luxury rooms. The hotel provides much more quality services for the satisfaction of customers. Warmth and hospitality has always been the strong points of this hotel. It is located near to the railway station and close to bus station as well. The hotel is trying to expand the business by way of building another hotel in another city in kerala, India and they are planning to extend the existing hotel into more bigger one in order to build more rooms and provide more service facilities to customers. So, a good decision must be made by using efficient investment appraisal techniques in order to invest in the right place and in the right time. 4. LITERATURE REVIEW OF INVESTMENT APPRAISAL An investment is ‘any course of action that involves sacrifices now or in the near future in anticipation of higher future benefits (Pike and Neale, 2003). Investment appraisal is influenced by the fact that external shareholders and potential investors have access to accounting data and make their estimates of firms economic rte of return with accrual-based accounting numbers. As a result, there is a continuing history of research analysing and relating accounting rate of return and economic rate of return concepts. Accounting information affects investment appraisal in many ways (Danielson Press, 2003). There are four basic techniques for the appraisal of capital investments which are : Payback (PB) measures the time that it will take to recover the total funds invested in an project. It shows the time required for the total cash inflows to equal the total cash outflows. A Project is considered attractive if it has short payback period. Projects with short payback periods allows managers to recuperate their investment quickly and give them more flexibility to reinvest these funds in future. They also have fewer risks than projects with longer payback periods. The payback period is popular method to evaluate capital investments. The shorter the payback period is, the more desirable the investment. Because the payback period focuses on short-term results, it does not require managers to predict cash flows far out into the future. Accounting rate of return (ARR) measures the percentage return the project achieves over its life in terms of profitability. Accounting rate of return is often used internally when selecting projects. It measures the performance of projects and subsidiaries within an organization. ARR is almost similar to payback period method but the important difference is that it tends to favor higher risk decisions, whereas use of the payback period leads to overly conservative decisions(Broadbent. M, Cullen. J, 2003). Internal rate of return (IRR) measures the percentage return the project achieves over its lifetime in discounted cash flows. The advantage of using IRR method is that it does not consider the time value of money and therefore is more exact and realistic than the ARR method. The shortcomings of this method are that it is time consuming to compute (Shim. K. J, 2000). Net present value (NPV) compares the initial cost of the project with the future discounted cash flows it generates. It allows the company to screen the company projects potential profitability by discounting future cash flow expectations and comparing the sum of these cash flows to the initial capital expenditure required to fund the project. Though similar to IRR method, NPV does not calculate an investments exact rate of return but instead calculates the exact dollar amount that an investment exceeds, or fails to meet , the expected rate of return. NPV provides an excellent decision criterion for investments. NPV does not suffer from any of the drawbacks of the payback or IRR methods. NPV is the method most recommended by financial experts for making investment decisions. IRR is still used to determine the exact rate of return for an investment, but NPV has none of the problems that IRR have with unusual investments (McAllister. E. W, 2005). 5. RESEARCH METHODOLOGY A research design provides a framework for the collection and analysis of data (Bryman and Bell, 2007). Data is divided into four types; secondary, primary, quantitative and qualitative. Selection of data type depends largely on the type of research (Buckley, 1995). The research objectives justify that descriptive research is the best method to achieve research objectives. The methods used in this research to collect primary data are as follows: Questionnaire It is a commonly used technique in quantitative research methods. The main benefit of using questionnaire to collect primary data is that it collects data in a format that is easy to analyze. The questions to be asked in the questionnaire are dictated by the research objectives. Questionnaire provides good sampling control and flexibility and control with regards to location and time. It is time consuming if several segments are involved. The research undertaken will use questionnaire to collect primary data. The mainrationale behind choosing questionnaire is that the research requires the controlled responses from the individuals. Time limitation for the dissertation also supports the selection of questionnaire for primary data collection as it is less time consuming to conduct. Personal interviews A Personal interview is defined as a purposeful discussion between two or more people (Kahn and Cannell, 1957). The data collected using personal interview is very reliable. Interviews can be un-structured or structured (Saunders et al, 2007). Structured interviews are a systematic goal oriented process. They force organized communication between the knowledge engineer and the expert. A structured interview is a question and answer session, which is recorded in some way. Personal interviews provide the visual verification of respondents characteristics and references to sources can be used to verify facts. However, personal interviews may be expensive and difficult to arrange. Also respondents may formulate the answers depending upon their profiles.

Schizophrenia Essay -- Schizophrenia Essays

Schizophrenia is a mental disorder that affects about one percent of the population. Generally if you have schizophrenia you cut out of contact with real world reality. The word Schizophrenia is Greek for â€Å"split mind†. It is common belief that a person with schizophrenia or a â€Å"schizo† has a split personality, but actually the person’s thinking, feelings, and behavior are so far from normal that they get to the point where they interfere with their ability to function in everyday life. People who are suffering from schizophrenia think and act in their own world, which sets them apart from the society around them. About one hundred year ago schizophrenia was first recognized as a mental disorder that scientists have been researching sense, hoping to some day find a cure. The exact cause for schizophrenia is still unknown; scientists believe there is more than one cause for the disease. Most people that have this disease accept the fact but are not willin g to receive the necessary treatment, or follow professional advice. To observers, schizophrenia seems like a disease or â€Å"madness† because people who have this disorder behave differently to the people that are considered â€Å"normal.† It impairs a person from doing work, going to school, taking care of themselves or having a social relationship with others. By looking at the symptoms, it is sometimes hard to classify schizophrenia as a disease because it enables those inflicted with it to develop new ways of expressing themselves, such as communication, and creativity. A disease is usually some kind of sickness that leads to death or heavy medication. Scientists believe that schizophrenia may be caused from genetics; this is also under discussion because kids from a parent with schizophrenia don’t always get it. Because of this theory scientists have been studying identical twins, due to the fact that they have the exact same genetic make up. However, evi dence seems to break this theory. This is because in some of the cases both twins have developed schizophrenia, and in others only one twin developed the disorder. Both men and women are just as likely to develop the disorder; generally the males have had more severe symptoms than the females. About ten percent of the people with schizophrenia end their life by committing suicide. Usually schizophrenia develops between the ages of fifteen to thirty. Earlier sympt... ...but it cannot treat other symptoms such as social withdrawal and apathy. Also, there are some side effects to these medications, including dry mouth, blurred vision, muscle spasms or cramps, and tremors. One of the major side affects is tardive dyskinesia, a permanent condition when the lips, mouth, and tongue move without any control. Besides medications and therapies, family intervention programs exist which focus on the families of the schizophrenics instead of the patients themselves. This is particularly useful since family members can learn and understand how to cope with the patient and provide for them a low-stress environment and aiding them as much as possible. Works Cited Eisendrath, Stuart J. "Psychiatric Disorders." In Current Medical Diagnosis & Treatment 1998, edited by Lawrence M. Tierney Jr., et al. Stamford, CT: Appleton & Lange, 1997. Mental Disorders. Videocassette. Winerip, Michael. "Schizophrenia's Most Zealous Foe." The New York Times Magazine 22 Jan. 1998: 26-29. "Schizophrenia." June 2001. Gale Encyclopedia of Science. 17 Mar. 2004 . "Schizophrenia." Psychiatric Dictionary. Oxford: Oxford UP, 1989.

Reaction Paper “El Presidente” Essay

Making a historical film is always a tough endeavor. What makes it even more challenging is its subject happens to be a controversial figure in history. And one of these is the El Presidente which was became one of the entries in Metro Manila Film Festival 2012 directed by Mark Meily. He crafts a tale centering about Emilio Aguinaldo, the first president of the First Philippine Republic. This general, politician, and revolutionary leader lived a long, grim, and gainful life from the time of the Philippines’ revolution against the Spanish colonial rule to the American and Japanese. Jeorge â€Å"ER† Estregan plays the lead role with Cesar Montano as Andres Bonifacio. In this film, the story touches on the revolutionary encounters, as well as the many issues, that took place during Aguinaldo’s time. It also explores his inner struggles as a husband, a member of the working class, a war leader, and a politician. It boasts a grand production highlighted by sophisticated cinematography and set pieces. Compared to many other Filipino epic and historical pictures that fall short on their technical ventures, this film gets high marks in its period and action sequences. Even with some inconsistencies and softness lingering in a couple of scenes, many shots still offer that â€Å"WOW† factor for the viewers. And most importantly, the production is still able to live up to the emotional investment such a historical offering needs to promote a sense of nationalism. Clearly, â€Å"El Presidente† is not a perfect film. But in the end, it still shines as a passionate attempt to contribute something valuable for Philippine cinema. This is somehow helps put a man where he belongs in the annals of history, while also inciting a form of curiosity and a sense of patriotism to its intended viewers. It also provokes the audience to have a more open mind on heroism. Even though this person finds h imself makes mistake, for others, or even for the entire country, it still allows certain realizations on how a human being becomes capable of great things. The movie EL PRESIDENTE is based on the life of General Emilio Aguinaldo, the first president of the Philippine Republic. It aims to present a comprehensive narration of his life, achievements and even some controversial issues about him such as his relationship or conflict with other Filipino hero, Andres Bonifacio. At first I’m not interested in watching because I thought it would be boring for us teenagers to watch that kind of movie. But I realized that it would be nice for me as a student or should I say it would be a helpful reference for me to know about the life of Gen.Emilio Aguinaldo and how the first Philippine President fights for our freedom.

Learning Has No Age Bar

Each and every human is born with a right to be educated irrespective of his or her age. study is a thing which can be done without no age limit independently. for example children have the right to go to school and there is another programme for adults to recieve education, ie adult education. being free and educated is no bad. so acknowledge the locals to encourage their children to go to school and any illeterate adult to receieve proper education so that we can advance to a better economy. In todays competitive world education has become very important for all human beings. Everyone wants to get educated at the best level. Age is no bar for study because learning has no age limets. You keep learning things from the time you are born. First you learn walking, then speaking and then writing. The phases of life include learning at every stage. The myth that only children can study is not true. People can get educated at any age. It is not only education people can learn anything at any age. So people should change their point of view and encourage people who want to learn . | | with a right to be educated irrespective of his or her age. study is a thing which can be done without no age limit independently. or example children have the right to go to school and there is another programme for adults to recieve education, ie adult education. being free and educated is no bad. so acknowledge the locals to encourage their children to go to school and any illeterate adult to receieve proper education so that we can advance to a better economy. long experience. It is not attained at any specific age or time. Age is no barrier for learning. People learn through experiences, not by simply reading and writing. Knowledge is not what we prosper through reading. It is what we learn from every single day-to-day experience. We now know about the force of gravitation because we have read about it. But what about Issac Newton? He never invented this law by studying about gravity through sources like books. He got to know about it only when he saw an apple falling down from a tree. And he wasn ‘t in school when he observed this, was he? So through this example, it is obvious that the more we know, the more we grow LEARNING HAS NO AGE BAR Have you ever heard someone say, â€Å"I’m too old to learn†? Did you believe them? I hope not. There are many people in their 50’s and 60’s going back to college to earn their degree. At that point in their life they are probably doing it because it is something they want to accomplish. The likelihood of improved earning power is no longer the motivating factor. Computers are now such a part of our lives. Do you know anyone who is very uncomfortable around computers? Chances are it is an older person. Younger people have grown up with computers and are very knowledgeable of them. Share your knowledge with them. Even if you only have basic knowledge, share it. They will think you are a genius. Teach them to e-mail. Teach them the basics of MS Word. Teach them to surf the web. What a wealth of knowledge is available online. Teach them to find it. It will enrich their lives. I recently began an online business. I spent months researching businesses and ended up joining this opportunity. It required very little investment, which suited my budget. A fully set-up website was included. Now I had so much information at my fingertips. I was overwhelmed! I couldn’t concentrate on one thing. There were so many things to investigate. Fortunately, as a member of this organization, I had access to an excellent Forum. People are so helpful. You get answers and encouragement. The downside of this is that I then felt pulled in many more directions. I was learning a lot, but not making much progress. Then a gentleman posted a thread on the forum. As I said earlier, share your knowledge with others. He is very successful. He offered to help any members who felt like they needed help. I was amazed! This man could sit back and do nothing and still make good money. Here he was, offering to help a newbie. He is sharing his knowledge and I am working hard to learn everything that he says I should learn. A couple of weeks ago â€Å"HTML† didn’t mean much to me. Now (after studying) I can go in my website and make changes. WOW! I never thought I would ever be able to do that. My confidence is growing and I know I will succeed. Thank you! Again I ask, as I did at the beginning, are you ever too old to learn. In a few weeks I turn sixty. I have learned a lot in the last few months. My brain seems to work even when I am asleep. The other night I could not fix a problem on my website. I finally gave up and went to bed. When I woke in the morning, I had the answer. I do not care what age you are: EXPAND YOUR MIND. FOLLOW YOUR DREAMS, GO AFTER THE IMPOSSIBLE! You won’t be sorry. You will grow, even if you don’t succeed in a particular endeavor. You will try again and you will make it. THEY are the sunset students. Hair turning grey, they have fulfilled all but one commitment in life: that of higher education. In pursuit of which, they have wielded the pen and are ready to fight the rigours of examinations. I don’t remember who said this,but it was some Chinese author. Even at the age of 90+,he was constantly reading and experimenting. once,he went to university and asked for a degree course in law. Amazed and amused,the dean said,will you be able to complete your 3 years session? In reply,the author snapped back: â€Å"Can you take your guaranty that you will live till tomorrow? If not,then how can you say that I wont be able to finish my studies? I don’t know about my next breath,but my brain is still very young,and I can assure you that I will score high enough with distinction† Young age of ladies is lost in childbearing and taking care of them and inlaws. Middle age is facing many problems of menopause,bones,etc. etc. It is this old age,say above 55,that you have settled in your life. Why not learn something new? or something we were longing for since our young age? Yes it is true that,physical abilities are limited,you don’t have that much of energy and stamina,but the whole thing is to gather your will power and start again. And my dearies,I cannot agree that any one of you is without any talent! This is a mere excuse. Each one of us is born with some or other talent. If you haven’t explored it,do it right now. tickle your grey cells,think again and again,What was your hobby? What cheers up you most? Do you love to be with flowers? Think and think and think! You will get an answer. Now just gather your will power,make it strong and take an oath! i will do it. i will learn it!