Incremental profit Essay

Distinguish between the following: a) Industry demand and Firm (Company) demand, b) Short-run demand and Long run demand, and c) Durable goods’ demand and Non-durable goods demand. 2 . What are the problems faced in determining the demand for a durable good? Illustrate with example of demand for households refrigerator or television set. 3 . Analyze the method by which a firm can allocate the given advertising budget between different media of advertisement. 4 . What kind of relationship would you postulate between short-run and long-run average cost curves when these are not U-shaped as suggested by the modern theories? 5 . How do demand forecasting methods for new products vary from those for established products? 6 . What are the different methods of measuring national income? Which methods have been followed in India? 7 . What do you understand by the investment multiplier? In what way does it defend the policy of public works on the part of the state during business depression? 8 . Discuss the various phases of business cycle: a. Are cyclical fluctuations necessary for economic growth? b. Suggest appropriate fiscal and monetary policies for depression Assignment B: all Case Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sensitive test equipment. The yearly volume of output is 15,000 units. The selling price and cost per unit are shown below:Â  Selling price $200 Costs: Direct material $35 Direct labor 50 Variable overhead 25 Variable selling expenses 25 Fixed selling expenses 15 150 Unit profit before tax $ 50 Management is evaluating the alternative of performing the necessary customizing to allow Electron Control to sell its output directly to Q/A labs for $275 per unit. Although no added investment is required in productive facilities, additional processing costs are estimated as: Direct labor $25 per unit Variable overhead $15 per unit Variable selling expenses $10 per unit Fixed selling expenses $100,000 per year Calculate the incremental profit Electron Control would earn by customizing its instruments and marketing directly to end users.

Strategic risks †thinking about them differently Essay

One of the most important aspects to put into consideration when taking up a project is project risk management. A project risk is an event / condition, which is uncertain that, upon it occurrence brings either a positive or a negative impact on the project. A positive manager should consider this as one of the ten knowledge areas where competence is highly regarded. Risk management is critical, especially to organizations working in multi-project environments and the maturity for risk is high (Loftus, 1999). A wide range of risks is apparent when working in projects involving construction among other engineering work. These risks are mostly attributed to government policy, diversity in stakeholders’ aspirations and the challenges of adding multiple projects. For a good risk management process, there must be a clear statement and understanding of roles and responsibilities, proper skills on technical analysis and the prevailing organizational factors should support the project . Project risk management involves identifying, assessing and prioritizing of risks: and thereafter putting resources to use in order to reduce, monitor and control those risks that could affect the project negatively and increase realizing of opportunities (Jaafari, 2001). This report seeks to outline the knowledge acquired on management of risk in projects among other basic knowledge gathered on management of projects. Discussion             All organizations exist for their own different purposes, and that of public engineering organizations in the construction business, the purpose is to deliver a service, which brings a beneficial result in the public/ stakeholders interest (Harrison, 2004). Decisions to pump resources into investments on capital infrastructure are prompted by needs that are meant to enhance the achievement of the major purpose. According to Flanagan and Norman (1993), the benefits of efficient risk management are evident especially in projects involving capital infrastructure because they are dynamic in nature and bring positive cost implications from the construction related decisions. Risk management should be taken as an intrinsic part of capital infrastructure investment decisions mainly because, as project, ventures get more elaborate, the role of risk management is exemplified (Kutsch & Hall, 2010). Regarding this realization, some countries have enacted government policies on constructors emphasizing on the need to incorporate risk management in capital infrastructure schemes (Uher & Loosemore, 2004). Risk is therefore, in many occasions, viewed as a condition or event whose occurrence will have adverse effects on the project and may hinder the attainment of set objectives. Hence, risk management relates decisions to such probable harmful effects (Chapman et al, 2012). This philosophical approach to risk management enables the process to be broken down into four fundamental sub-processes (Culp, 2001). These involve identification, analysis, response and monitoring. The former step of identification is the most critical step because it has the biggest effect on decisions emanating from the process of risk management. Reviewing risk management, in his article, Williams (1995), notes that there is little structured work in publication about typical risks. According to Chapman (1998), as much as risk identification is critical on the risk assessment and response phases, very little empirical evidence is available at this early phase. The heavier task in risk management remains in the analysis and response to the risk, yet the reasoning stands that unless the risks are identified, they cannot be analyzed and responded to. For most engineers, the need to have a set out program is critical for it provides an umbrella under which all current projects fall so that an outcome can be delivered massively in general, and greater than the total sum of all others. A program is usually temporary, and flexible; created to direct and oversee the implementation of a set of related projects and activities for the deliverance of beneficial outcomes that relate to the organization’s strategic objectives. Several projects are undertaken under this umbrella. This explicitly differentiates between program management outcomes and project management outputs. However, there is a link between projects and strategy through the program. Risk management is becoming an increasingly important process due to external pressures in existence. However, good risk management is seen as a critical attribute of organizational success in the field of engineering. The assumption that programs are merely extensions of projects should cease to exist because many will tend to reflect program risk management to project risk management (Allan, 2008). Program management is a broad extension of the varied, yet related, projects. On projects, it is important to define one or more objective functions like capital expenditure and completion time to represent it to measure the probability of achieving the set targets. Risk management then goes on to model the project’s objectives against the projects variables like costs and the quantity of inputs. These variables are usually uncertain as time goes on, hence the uncertainty of a hundred percent achievement of the objectives set. The most ideal situation would be identifying and characterizing the variables in advance providing that they will remain unchanged by time. This would make it easy to estimate the possible risks and the consequent variance of the project’s objective(s). However, not all project variables can be identified as new variables might surface as the project goes on while the probability of occurrence of the initial variables may vary (Kerzner & Saladis, 2009). The impacts of the initial variables, both positive and negative, may change too hence making risk management even more hard (Drummond, 1999). Certainty and uncertainty of realizing a project’s objectives are measurable, only ideally. The possibility of a project not breaking even could be considered as a representative of the whole project: and then used in turn to evaluate against the variable and try to reduce the risks involved. This becomes a basis for decision-making. Some projects may proceed normally in a stable environment, hence making the uncertainty high at the time it is conceptualized. Pro-active planning and making prudent decisions will see the uncertainty reduce (Royer, 2001). However, uncertainty in complex projects within a changing environment will not necessarily reduce/ diminish as time goes by Chapman (1998). It is necessary to keep on checking on the project’s variables and re-evaluating of the objective function’s status to facilitate adjustments in the project’s strategies. Uncertainty surrounds many parts of a project; hence early resolution of variables may not be poss ible always. Variables change over time leading to exposure to new threats and risks along the way. This fact should not be refuted and a lot of work is required in the planning evaluating phases, where most of the critical work is done. In spite of all the uncertainty and complexity surrounding risk management and project management, it is important to seek methods of improving the project’s base value (Drummond, 1999). Conceptualization, planning, and implementation of a project are complex process that requires management based on set strategic objectives, which vary from time to time. The objectives should be integrative and holistic in the sense that it caters for social, political, environmental, and community aspects (Sears et al, 2010). Traditionally, planning in project management should form the basis of planning, alongside other functions of project management including; human resource, time, scope, integration, quality and procurement. These should be the fundamental factors f consideration along each phase. A variety of guidebooks, protocols and codes of practice in the engineering field have been made available for use in risk management in project management. In the United Kingdom, the ‘Orange book’ is a framework that is set to offer guidance on basic risk management concepts and as a resource for developing risk management processes and implementing them I the public sec tor (Aritua et al 2011). It is also aimed at using a risk based decision-making on investment. There have been many more publications and publications aimed at dictating hoe risk management should look like. These guidelines have offered a basis upon which projects are appraised and their investment viability tested. This has enhanced the process and shifted its reception and perception from project risk management to a risk management strategic level (Melton, 2011). In engineering and construction professions, program management and project management came to existence due to the changing procurement environment (Cox et al 2006). In the United Kingdom, procurement of infrastructural assets was done in a sequential manner, which involved a clear differentiation in the project life cycle phases. Currently there are three major procurement systems. These systems are prime contracting, Design and Build procurement and Private Finance Initiative (Aritua et al 2011). These methods were because of the need to adopt integrative and collaborative project delivery methods. The procurement systems have features like framework agreements, the use of specifications that are output based, and more importantly, emphasis on the lifelong value of the structures (Shehu and Akintoye, 2009). The office of Government Commerce has facilitated the change in construction procurement in the public sector too. The agency’s main agenda is to ensure that policies ar e followed and enhancing promotion of the best performance practices. These systems ensure that the project undertaken is of high quality and regard set policies and guidelines. These sanctions in the public works and construction sector have acted as strategic risk management tools for they ensure quality assurance as well as proper quality management. Project management should incorporate the use of a strategy-based management approach. This will facilitate the integration of planning, risk management and decision-making hence ensuring real time real time realization of an optimum of the project’s strategic objective against its variables (Schmidt, 2009). The project’s promoters are not always the investors. Investors are not always actively involved in the management of the project, but invest resources into the project hoping to get dividends. The promoters’ objective, on the other hand, is to deliver a facility that will ensure a long term balanced and financially viable business entity. The project is therefore a compromise between the attainment of investors’ interests and that of the community (Pinto & Morris, 2010). Project development should be based on a set of strategic objectives, which stamp the project as a business and entwining project decisions to strategic business decisions (Wearne, 19 89). Amid all risks, the project should be planned proactively regarding its variables and with a focus on the life cycle objective functions (Westland, 2007). All life cycle functions should be observed. These are: financial functions, customer satisfaction, and policy observance/ adherence to statutory concerns. Statutory concerns could be like those regarding projects adjacent to ecological systems or highly populated areas (Jha, 2011). Proactive planning of the project ensures real time minimization of risk. Effective risk management ensures that there is typical conceptualization of projects and their subsequent implementation using strategic objectives. It also ensures any further variables are assessed and managed accordingly to optimize the project’s strategic outcome, that which of a business entity (Heagney, 2011). Since projects are subjected to changes in objectives and variables due to external factors, it is important to incorporate a continuous risk management process that involves continuous risk and uncertainty management process conducted in real time to bring value to the project manager. Strategies made from risk analysis are a basis upon which decision-making is based going forward. Objectives of the life cycle are the vessel for analysis. Ethical practices are important factors to put into consideration when taking up/ procuring a project (Ralf et al, 2014). There exists codes of conduct and these codes may vary depending on the government regulations from one country to another. These codes guide management of projects, operations and supervision of work, and the technical aspect of the project, which is building. Since the work done is of great importance, the designed code of conduct and ethical measures should be used as they set standards for the output as well as achieving business objectives with the community in regard (Haukur et al, 2011). Reflective assessment Group activities that included vast research and group projects were vital in broadening my understanding of the project management theory, which of great importance to establishing and undertaking successful projects. According to Turner (1993), scope management is what the project management theory regards. Scope management involves three fundamental issues; ensuring that an adequate amount of work has been done, avoiding doing any unnecessary work and ensuring that the work done fulfills the intended business purpose as stated. The recognition of the sequential state in which activities are undertaken helped us as a group in determining what had to be done at a particular time and by what particular persons as well as accounting for what had been spent on completed work in anticipation of costs that would be accrued in the next steps. I came to understand project management by likening it to production operations management. The crystallization of project management theory to oper ations management theories made it easy for us to recognize the resounding reliance on the transformational theory, which is production oriented. This is because project management involves injecting inputs on which transformational processes occur to bring the result, which is the output (Nell, 1998). Goals are set on the output, upon which a basis for control is placed: control systems are put in place to ensure activities align with achieving intended goals and putting improvement measures in place. This deep understanding of the theory has been enhanced mainly by the critical analysis and discourse that we have engaged ourselves with in the group to widen knowledge on the process. Relevant knowledge on management theories on planning, execution and control has expanded from these activities as well as project theories pertaining flow of production (which projects have been likened with) (Sulliman, 2014). These productions method include incorporating techniques such as lean prod uction and just in time (JIT) (Gilbereath, 1922). Ethical practices in governance for contemporary organizations are also a major factor for consideration (Ralf et al, 2014). Conclusively, exploration on the area of project management has instilled in me management skills, which are very critical in handling projects and managing every aspect in them including risk. References Allan, N., Davis, J., 2006. Strategic risks — thinking about them differently.Proceedings of ICE 159 Aritua B., Nigel J. Smith, Denis Bower (2011) International Journal of Project Management. United Kingdom: University of Leeds Chapman, C. B., Ward, S., & Chapman, C. B. (2012). How to manage project opportunity and risk: Why uncertainty management can be a much better approach than risk management : the updated and re-titled 3rd ed of Project risk management, processes, insights and technoiques. Chichester, West Sussex: Wiley. Cox, A., Ireland, P., & Townsend, M. (2006). Managing in construction supply chains and markets: Reactive and proactive options for improving performance and relationship management. London: Thomas Telford. Culp, C. L. (2001). The Risk Management Process: Business Strategy and Tactics. New York: John Wiley & Sons. Drummond H 1999. Are we any closer to the end Escalation and the case of Taurus? International Journal of Project Management Flanagan, R., & Norman, G. (1996). Risk management and construction. Oxford [u.a.], Blackwell Science.Gilbreath, R. D. (1992). Managing construction contracts: Operational controls for commercial risks. New York: Wiley. Harrison, F. L., & Lock, D. (2004). Advanced project management: A structured approach. Aldershot, England: Gower. Haukur, I. J., & Ingason, H. T. (2013). Project ethics. Farnham, Surrey: Gower. Heagney, J. (2011). Fundamentals of Project Management. New York: AMACOM. Jaafari A. (2001) International Journal of Project Management. Sydney: University of Sydney Jha, K. N. (2011). Construction project management: Theory and practice. New Delhi: Dorling Kindersley. Kerzner, H., & Saladis, F. P. (2009). Project management workbook and PMP/CAPM exam study guide. Hoboken, N.J: Wiley. Kutsh E. &Hall M. (2010) International Journal Paper of Project Management. United Kingdom Loftus, J. (1999). Project management of multiple projects and contracts. London: Thomas Telford. Means, J. A., & Adams, T. (2005). Facilitating the Project Lifecycle the Skills & Tools to Accelerate Progress for Project Managers, Facilitators, and Six Sigma Project Teams. Hoboken, John Wiley & Sons. http://www.123library.org/book_details/?id=9130. Melton, T. (2008). Real project planning developing a project delivery strategy. Amsterdam, Butterworth-Heinemann. Nell, E. J. (1998). The general theory of transformational growth: Keynes after Sraffa. New York: Cambridge University Press. Pinto, J. K., & Morris, P. (2013). The wiley guide to project, program, and portfolio management. Hoboken, N.J: Wiley. Ralf M., Rodney T., Erling S.A, Jingting S., Oyvind K. (2014). Ethics, Trust, and Governance in Contemporary Organizations. Norway: Project Management Institute Royer, P. S. (2001). Project risk management: A proactive approach. Vienna, Virg: Management Concepts. Schmidt, T. (2009). Strategic project management made simple: Practical tools for leaders and teams. Hoboken, N.J: John Wiley & Sons. Sears, S. K., Sears, G. A., & Clough, R. H. (2010). Construction Project Management: A Practical Guide to Field Construction Management. New York: John Wiley & Sons, Inc. Shehu, Z., Akintove, A., 2010. Major challenges to the successful implementationand practice of programme management in the constructionenvironment: a critical analysis. International Journal of Project Management Suliman Saleh Al Fredi (2014) International Journal of Science and Technology. Saudi Arabia: Al Qassim University Uher, T. E., & Loosemore, M. (2004). Essentials of construction project management. Sydney: UNSW Press. Westland, J. (2007). The project management life cycle: a complete step-by-step methodology for initiating, planning, executing & closing a project successfully. Williams, T., 1995. A classified bibliography of recent research relating to project risk management. European Journal of Operational Research Zhang Lianying et al (2012) Procedia Engineering. China: Tianjin University Source document

War between the Confederation and the Union Movie Review

War between the Confederation and the Union - Movie Review Example The documentary also tries to build a personal account of the life of Robert E. Lee, the main hero and center point of the documentary by detailing his personal life, emotions, travails, and changes that the country faced during the war. The documentary starts with the personal life of Robert E. Lee and shows his upbringing in the initial period. It showcases the different events that shaped his early life and perception, his devotion to becoming a soldier, his pursuit of excellence and striving to be the best. It documents the early life and the Mexican war that established him as a dashing soldier. It also takes us through the period of secession and his refusal to take up the leadership of the Union forces during it. He served as a senior military advisor to President Jefferson Davis. It shows the seven-day wars, the wars of Chancellorsville and Gettysburg. Overall, this documentary tries to paint a picture of the war from the perspective of Robert E. Lee. The letters from him to his children were also documented. The Overland campaign of General Grant is also mentioned, along with the change in fortunes of the Confederate military. This led to an overall change in the position of the army in the Confederate states. It also led to the surrender of the Confederate army. This war of secession is a recurrent theme in the documentary. In fact, this theme is used to develop the storyline of the documentary. It also shows the genesis of the main character, Robert E. Lee over this period. This is one of the fundamental aspects of this character. He undergoes a lot of transitions, from being the main military advisor to becoming the main man behind the rebellion. The documentary in many ways also tried to reflect the realities of the America of the 1900s, from the themes of slavery to the lifestyle in America. It bears testimony to the theme of slavery, and the other aspects of American life that became a part of its evolution into the current day Unites States. SCO PE OF THE DOCUMENTARY The documentary follows a pattern wherein it juxtaposes the war of Confederate and the Union States with the life of Robert E. Lee. It follows all the events in the life of Lee, starting from the early years to the growth in the army and the overall genesis into an astute general. In many ways, there are certain themes that are recurrent in the documentary. These are the themes of slavery, the themes of the political situation of the country and the other associated factors. The documentary maintains a narrative wherein a lot of importance has been put on the costumes. The costumes are very authentic and depict to the life and times in the 1900s. There is a lot of inherent color and hue in the dressing of the main characters.

Graduation Speech Essay Example | Topics and Well Written Essays - 250 words - 1

Graduation Speech - Essay Example It has been fun attending most of the activities while some have been challenging. I, in particular, cannot forget how I have struggled with my science subjects. At first, they were hard to comprehend but all that is now behind me. High school life have taught me lessons that I will forever remain indebted. Being patient, hardworking, and putting God first in everything I do has seen me endure the long journey. I have severally found myself on the wrong path with teachers for poor performance and unfinished assignments. I acknowledge all actions you took and believe that all were meant to mold me to be a responsible person. To the students I leave behind, I urge you to work hard in your studies and you will also graduate in the years to come. Respect your teachers and do all they ask you. Remember your parents are sacrificing their resources to have you in school. Please do your best to avoid embarrassing them. I believe St. Gabriel High School students have the potential to succeed in everything. I indeed wish you

Wynn Research Paper Example | Topics and Well Written Essays - 2000 words

Wynn - Research Paper Example With their resorts in Las Vegas and Macau (People’s Republic of China), Wynn Resorts aim to reach a global customer base. This will enable them to reach and conquer a wide market share, which will tremendously improve their revenues. Wynn Resorts also continually strives to provide and research new and innovative gaming and lodging amenities to its customers. Wynn Resort constantly seeks new ventures and opportunities for expansion in order to advance its brand, and in turn maximize the shareholders wealth. Also, Wynn Resorts seeks to continue to provide the highest quality and unique gaming resort experience to its customers to retain them and attract new customers. It also has a mission of investing in both social and environmental wellbeing of the communities in which it operates (Schwartz p.55) such as Las Vegas and Macau which are its top priority. The resort also encourages employee growth, training, and development in order for them to provide the most luxurious and hospitable conditions possible for its customers. The vision statement is inadequate in its description as it fails to inform the consumers/ customers of how it will offer the most luxurious and elite casino and resort experiences worldwide. The inclusion of the means of offering the best of these services would provide more information to the interested consumers and investors who would want to have a stake in the ownership of the firm by buying shares of the company. The mission statement is quite conclusive and all rounded by focusing on all elements that affect and directly contribute to the profitability of the company. The most effective elements of the vision statement is positioning itself as the leading provider of casino experience and mentioning its target customers (elite). The effective element in the mission statement is its effort towards innovative opportunities to expand its brand and its focus on social and environmental (Schwartz 68)

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

Consumer behaviour - Essay Example Despite some lingering negative issues, the number of people shopping online continues to grow as more and more people become familiar with the process and the convenience of being able to shop for just about any item they want – from homes to house wares and everything in between – at any time of the day or night that works best for them and regardless of whether what they’re wearing (or not wearing) is presentable to the public to be found at the local shopping center. While there remain certain products that consumers prefer to purchase at retail ‘brick and mortar’ outlets and several issues concerning taxes, security and information mining to be overcome, the concept of purchasing online is definitely a growing trend worth investigating. From the retailer’s perspective, the theories and fundamentals of shopping remains much the same in the online environment as it does in the brick and mortar environment. However, there are some significant factors to take into consideration in order to continue attracting and retaining customers who frequently have many more options online than offline in which to purchase their goods. To begin with, the internet provides an immediate benefit in efficient time consumption as the consumer can, with a few clicks of his mouse, compare prices, investigate product information and receive previous customer recommendations. This greater flexibility was noted in the literature as early as 1997 (Alba et al) when internet sales, still in their infancy, amounted to less than half of all retail sales in the country. According to Ruthkowski (2000, cited in Changchit et al, 2005), in response to growing trends in consumer behavior that continue to turn to the internet as a source of not o nly information, but shopping venues, the number of available hosts on the internet, denoting the range of shopping venues, has risen from 1.7 million in 1993 to

Personal Skills Assignment Example | Topics and Well Written Essays - 1500 words

Personal Skills - Assignment Example Transferable Skills of Time Management: Transferable skills of time management reflect the way in which an individual can plan all his due projects to be submitted within time. Certain tasks are related to specific objectives and thus need specific scheduling. Using the right technology, materials and facilities for the tasks to be completed at the right time is essential. It is also needed for an individual to be self-dependent doing his own work on time as well as making scheduled plans for his team reflecting effective leadership and management. The progress of the tasks needs to be monitored as part of the scheduling process and one need to be persistent in his performance (Ellis 2012). Thus these are the transferable skills that enable individuals to manage their time effectively in order to complete and deliver all necessary tasks and projects on time. Working With Others: While completing higher education and later on carrying on with the career life, one needs to have certain interpersonal skills, particularly when they have to work along with others either as team or at the workplaces. Skills of communication are extremely essential for this purpose. It is essential to interact effectively, listen to others such that one can be accepted well in the workplace benefitting the timely completion of tasks along with healthy relationships in the workplace with all. Powers of goof communication and negotiation are certain interpersonal skills that one needs to develop in order to be successful within an organization, and such skills are initially developed at the higher education institutes (What are Interpersonal Skills? 2013). Use of ICT and Managing Learning: Information and Communications Technologies (ICT) has become extremely vital in present day learning and education. With ICTs the modern system of learning and education has developed significantly, thereby developing the ways in which individuals can learn and manage their learning. With information technologies, the traditional forms of teaching are available in the classrooms but along with that the benefits include making notes and study structure available online such that students can access them even when they are not in classrooms. Also, since internet has its widespread use in the present day world, with ICTs involved in learning management, students get the facilities and opportunities to learn and utilize the use of internet technology before they enter the professional life. Thus it helps to manage the learning process of the students without affecting the classroom based teaching (Punie, Zinnbauer and Cabrera 2008). Academic Skills: Different academic skills also develop students. Individuals need to learn how to identify and choose the correct information and sources for their learning to be more effective. For this students need to make use of internet sources as well and carry out detailed research to identify the right sources for their learning. This is also a part of the transferable and interpersonal ski

The Swedish Climate Scientist - Svante Arrhenius Essay

The Swedish Climate Scientist - Svante Arrhenius - Essay Example Global warming is considered to depend upon two major factors: excessive emissions of carbon dioxide and other 'greenhouse' gases and fluctuations in temperature trends.  During the last decades of the 20th century, global warming was predominantly viewed as one of the numerous side effects of human activity. 99.9% of the overall atmospheric volume belongs to only three gases: nitrogen (78.09%), oxygen (20.95%), and argon (0.93%). However, the climate depends on these three major gases much less than it depends upon the remaining groups of gases that constitute only 0.01% of the Earth's atmosphere. These gases are carbon dioxide (CO2), methane (CH4), carbon monoxide (CO), nitrogen oxides (NOx), chlorofluorocarbons (CFCs), and ozone (O3) and they are known as "greenhouse gases or radiatively important trace species (RITS). They are radiatively important because they influence the radiation balance or net heat balance of the Earth" (Hardy, 2003: 3).  For nearly three centuries the mankind has been raising the concentration of carbon dioxide and other 'greenhouse' gases in the atmosphere. Numerous factories, fossil fuel power plants, and vehicles produce astonishing volumes of carbon dioxide; millions of tons of decomposing garbage coupled with a highly increased population of methane-belching cattle result in the release of excessive volumes of methane; nitrogen-containing fertilizers - the cornerstone of contemporary agriculture - raise the concentration of nitrogen oxide.  In figures, the rise seems rather impressive: while the preindustrial concentration of CO2 in the atmosphere did not exceed 280 ppm, these days the concentration of this gas is approximately 370 ppm which corresponds to more than 30 percent increase. The same tendency is observed in the concentration of other greenhouse gases.

Ct scan radiation risk and young patients Article

Ct scan radiation risk and young patients - Article Example CT machines have become much faster, and now, it is possible to scan any body part in very less time. The image quality that is on offer is also much better than the older generation of CT machines. At present, the latest multi-slice CT scan machine can accumulate data at around 350 ms. Within less than a second, it is possible for the CT scan machine to use millions of data points and then reconstruct a 512 x 512-matrix image from this. CT scan is among the best and fastest, non-invasive investigative modality for the evaluation of the abdomen, pelvis and chest, and gives a well-defined, cross-sectional view. CT scan is ideal in the diagnosis of cancer of various organs including the liver, pancreas, lung etc, and allows the surgeon to identify a tumor, including its size, location and how much it has spread to adjacent tissue. Among its other uses include the diagnosis and treatment of vascular diseases, pulmonary embolism and abdominal aortic aneurysms, skeletal lesions etc. CT is also widely used in children, in the evaluation of various tumors of the body like neuroblastoma, lymphoma etc and in the imaging of the kidneys. However, when compared to conventional radiography, the use of CT involves much higher doses, and there is a risk of radiation. Many studies have been published about this issue, especially the risk in children. Children are more radiosensitive to radiation exposure when compared to adults. It is estimated that children are ten times more sensitive to effect of radiation than middle- aged adults. Children have more time to develop a radiation-induced cancer due to a longer life-expectancy when compared to adults. It has also been shown that there is an increased dose per milliampere-second, and an increased lifetime risk per unit dose. It has been estimated that in a 1-year-old child, the lifetime cancer mortality risks due to CT scan radiation exposure is around 0.07% (for a head scan) and around 0.18% (for an abdominal scan). This amoun t of radiation exposure is much higher than what an adult would be exposed to. Another major concern is the trend to use multiple scans. It is felt that when compared to just one scan, two to three scans could theoretically double or triple the risk of cancer. Sometimes, during a single examination, more than one scan would be done, which increases the radiation dose further. Thus, in the vast majority of cases, a single scan should be enough. Many studies have provided information that there is link between high dose radiation and the development of malignant tumors in children. In February 2001, the American Journal of Roentgenology was among the first journals to publish the risk of radiation in a young patient after a CT scan. It is also quite common nowadays to use CT as a screening technique even for minor complaints like headache, and this has added to the controversy.   One large study has estimated that on an average, a child would be asked to get a CT scan seven times by the age of eighteen. It has been estimated that in the US alone, about 5 million CT scans are being performed in pediatric patients annually. Another concern is the excessive use of CT scans as a screening tool in patients who are asymptomatic. Due to all these concerns, there is a pressing need to avoid excess radiation dose from CT scanning and optimize the CT scan protocols, especially in young patients. The risk to benefit should always be considered and alternatives to CT scan like MRI or ultrasound should be

Classical Education Essay Example for Free

Classical Education Essay Some people hold the view that the classics are classics because they have stood the test of time. Therefore, they are to be treasured by people of all generations, ours being no exception. Others believe that the classics represent the wisdom of the past. As we are advancing towards the future, it is our responsibility to venture into the unknown and generate new understanding of man and nature. What is your view on this issue? Write an essay in 300 – 500 words in response to this question and give reasons to support your position. Classical education is ‘ communicates to the mind †¦ a high sense of honor, a disdain of death in a good cause, and a passionate devotion to the welfare of one’s country’ , which proposed by Oxford classicist Edward Copleston. Classics studies indeed have stood the test of time and represent the wisdom of the past which treasured by all generations. Therefore, it is our responsibility to venture into the unknown and generate new understanding of man and nature. Traditionally, the study of classics was the principal study of the humanities. It is connected to the study of languages, history, art, literature, philosophy, archaeology and other culture of the ancient Mediterranean word, especially Ancient Greece and Ancient Rome. For example, every European language today such as the Romance languages and Modern Greek was evolved and influenced by the classical language of the Ancient Mediterranean. Nevertheless, classical study now expanded to Northern Africa and Middle East. It has become our references in many different arenas and immensely contributed to our culture today which proves that classic studies have the ability to transform self’s understanding. According to Charles Augustin Sainte-Beure’s idea and belief, a true classic is an author who has enriched the human mind and revealed some eternal passion through his thought, observation, or invention. Therefore, it could be opposed by anyone since each and everyone have different thoughts and ideas influenced by their present lifestyles, culture or even discovery.

Concept of Nationality After Bolshevik Revolution

Concept of Nationality After Bolshevik Revolution SERHAT KESKÄN Before examining the policies about nationality question after Bolshevik Revolution, the concepts that we have should be well established. As a newly graduated sociologist, I try to explain having identity, nation, national identity in briefly. The reason behind my explanations is providing comprehensive understanding about social inclusion and exclusion. Having understood these terms under nationality, we can easily grasp Soviet Russian policies with hidden ideology while performing their plans. Although there are lots of academicians and theorist that engage in developing concepts of nationality, as a general term ; it is about sense of belonging in peoples’ life. Especially after WWI, the general atmosphere about the need of belonging to one large group in determined territory with their shared values and norms was getting more and more importance. It is like a way for unity of differences in administration at macro level. Nation is also basic social tool to humans for givi ng meaning to their social world. It is crucial to understand how people theorized their environment, social organization and how they perceived the existing differences among them as well as the other groups. As I said before, the way of realizing differences in one large group can cause social exclusion while they includes ones who share the same historical background, language ,culture etc. In that sense, The Bolsheviks had lived difficulties for getting social solidarity, unity because of its multicultural nature. In addition to its multicultural nature, there were also huge differences between ethnic groups and amongst them in terms of their religion, educational level, life styles etc in daily life that entails more attentions rather than condition of being multicultural in theoretical sense. In this context, Lenin’s idea over non-Russian people is so critical. The promotion of the right of nations to self determination is initially enough to non-Russian to come togethe r and convince them to gather under big umbrella. As a continuation of this, unlike imperial state’s discriminations on nationalities, Lenin’s attitude directed equal opportunities in politics. With providing this, the disparities in social life can also be overcome. Equality among all ethnic groups secure each cultural, language features preservation without coercion but via logic. It means getting rid of social exclusion that threat to continuation of Soviet regime. Designed to rise the proportion of the representatives of the native nationality in the local party and state management, the Soviet authorities followed the policy of indigenization, called as â€Å"korenizatsiia†. The Soviet regard indigenization as a method of â€Å"fighting backwardness† by constructing and associating these new Soviet folks with the hands of natives or to be called as the native elites. These elites were obliged to enlist as Communist party workers and were supposed to rise and develop the new lifestyle, particularly the recently approved national borders. Korenizatsiia, indigenization, led to the Soviet Union’s recent crisis of government among the non-Russians. The application of this policy in the time of displacing processed by industrialization increased the notability of non-Russian languages and cultures and established the essential social fundamentals for multiculturalism. The long term of permanent linguistic division was ensured b y the foundation of multiple formal languages and establishment of social fundamentals of support for the languages. Although these policies were aimed to rise the role of non-Russian natives in socializing their nation, the direct source of stress between the local people and the Soviets was the assignment given to the citizens of Central Asia. By the mid-1930s, the liberal language policies and the indigenization drive lasted which helped to enlist the reinforcement of vast regions of non-Russian people for the party and the Communist regime. One of the direct conclusions of the hardships assimilating the native people, The Central Asia Bureau shifted dramatically the indigenization policies in 1927. The emphasis was changed from working with and recruiting the ethnic people to hiring individuals who were able to speak the official language. Ethnic Russians and Europeans now a competition about native people, supplying that they had sufficient linguistic skill. This change altered the purpose of the whole indigenization process from establishing a self-sustaining native Soviet government to simply creating a government which is a practical and well-functioning entity. From 1933 to 1938, the indigenization, korenizatsiia, was not exactly abolished. Its requirements were not enforced anymore. Evacuation of leaderships of the national republics and territories began, as well. The non- Russians had provoked the national strife and suppressed the Russians and the other minorities in the republics. The local elites were the recruited agents and their aim was to dismember the Soviet Union. When the indigenization failed obviously to the Central Asian republics, the resentment of the Soviet regime spread widely. It was declared by Stalin that native nationalism was an even more hazardous threat than â€Å"Russian chauvinism†, against which the indigenization policies were aimed to fight at the beginning. All over the Soviet Union, the attempts to indigenize n on-Russians community were withdrawn and changed with policies supporting Russian Soviet applications. All the other languages taught in schools were replaced with Russian, the local language, and the concentrated point altered from Republic welfare to Union welfare. The stress was turned backward and the local nationalism was regarded as a larger threat. The needs for international alliance of proletarians were changed by the new incorporating ideology of soviet patriotism and by the leader’s belief. Parelel to these explanations, we can easily say that Connor criticizes the hegemony of being Russian in ethnic group, politics and language as a communication medium. Although nationalities policies were changing over time, these inequalities cannot be eliminated totally. Changing strategies cannot be considered as curative. Finally, I give effort to understand Slezkine’s analogy about Soviet Union. The writer describes Soviet Union as a communal apartment. If we want to understand this depiction, we should aware of the right of self determination. In this communal apartment, all national groups have their own room. In their room , they have rights to determine their internal affairs. With their separated room, they can maintain their cultural characteristics. I give meaning this analogy from daily life that is micro perspective. Now imagine a big apartment and inside it people from different backgrounds. They design their own rooms according to their taste. These preferences called tastes refer to their historical background, their lifestyles, educational level etc but the owner of this building is not one of these. Now think all of micro understanding in macro perspective that I said before. The tastes can be thought as cultural maintainers in their determined area. Nonetheless, I lived difficul ties to understand this analogy in its theoretical roots.

Grazing Versus Ecosystem Conservation: Managed Grazing Techniques Must

Grazing Versus Ecosystem Conservation: Managed Grazing Techniques Must be Implemented One of the major issues confronting western America is that of environmental conservation and protection versus agricultural essentials and needs. This issue includes the environmentalists' fight against herbicides and pesticides, reservoirs for irrigation water, and livestock grazing on public land. The controversy that this essay confronts will be that of the desire to use public land for livestock grazing versus the importance of preserving the rangeland ecosystem. Importance is found on each side of this controversy by various groups of people. What will there be for tomorrow's generation if the ecosystems of public lands are not preserved? Where will the meat come from for today's generation if the nation's cattle ranches do not have enough food to raise their livestock? I believe that the answer to both these questions lies in the solution of both economical and ecological sustainability. Although overgrazing in past history has greatly damaged rangeland ecosystems of today, su stained economy and ecology can coexist in harmony, not through environmentalist's visions of cattleless rangelands or through cattlemen's aspirations of unchecked rangeland grazing, but rather through managed grazing techniques and practices. This controversy has emerged mainly because of overgrazing in the nineteenth and early twentieth centuries (CAST "Livestock"). Due to their lack of knowledge and experience, ranchers, the public, and the government all supported year-round grazing of rangelands. It helped to boost the economy by allowing ranchers to produce more cattle. However, all three of these groups soon found that the boost in the economy resulti... ...-Ecology and Management of Annual Rangelands. Comp. Stephen B. Monsen. Ogden: United States Department of Agriculture; Forest Service; Intermountain Range Station, 1994. 414-416. Stevens, Allan R. and John F. Vallentine. "Use of Livestock to Control Cheatgrass-A Review." Proceedings-Ecology and Management of Annual Rangelands. Comp. Stephen B. Monsen. Ogden: United States Department of Agriculture; Forest Service; Intermountain Range Station, 1994. 202-205. Tipton, F.H. "Cheatgrass, Livestock, and Rangeland." Proceedings-Ecology and Management of Annual Rangelands. Comp. Stephen B. Monsen. Ogden: United States Department of Agriculture; Forest Service; Intermountain Range Station, 1994. 414- 416. Vavra, Martin. "Public Land and Natural Resource Issues Confronting Animal Scientists and Livestock Producers." Journal of Animal Sciences. 76 (1998): 2340-45.

Epic of Beowulf :: Epic of Beowulf Essays

Significance of Scyld Scefing Scyld Scefing often deprived his enemies, many tribes of men, of their mead-benches. He terrified his foes; yet he, as a boy, had been found a waif; fate made amends for that. He prospered under heaven, won praise and honor, until the men of every neighboring tribe, across the whale’s way, were obliged to obey him and pay him tribute. He was a noble king! (BEO 4-11). At first glance to any reader, the above passage that opens Beowulf may seem perplexing. Why is this poet rambling about some other great ruler? In fact, another 50 or so lines are dedicated to this Scefing character. Wasn’t this poem titled Beowulf? It appears that the poet of Beowulf is rambling, ranting unrelated events and apparently digressing from the main topic. However, even though no concrete conclusions or links are presented between Scefing and Beowulf, the reader learns soon enough that the seemingly digressive poet had in truth, slyly and with all intention inserted some indirect indications in the tale of Scefing. As the poem reaches its finale, the reader recognizes in an epiphany the sophisticated construction employed by the poet in the weaving of Scefing as foreshadowing of Beowulf. In retrospect, Scefing is essentially Beowulf himself. It is stated that Scefing is a warrior, a conqueror, gifted the spoils of his enemies as he defeated them. Beowulf was interested in the spoils and trophies of war in a similar fashion, always mindful to bring a piece or two of any recently dominated monsters back with him for display purposes. In addition, the poet mentions the pure prosperity, praise, and honor of Scefing; and in parallel form, the reader is exposed to the wealth, recognition, and reverence for the hero Beowulf. From the double victories over Grendel and his mother to the final battle against the dragon, Beowulf retains his status and his persona as a hero, a definite king and without a doubt a noble one. As the reader recalls Scefing was also described as a noble king, the pieces and reasoning of the previously digressive tangent rapidly falls into place. “Then Scyld departed at the destined hour, that powerful man sought the Lord’s protection. His own close companions carried him down to the sea, as he, lord of the Danes, had asked while he could still speak'; (BEO 26-30). This is the exact sequence of events which happens to Beowulf, his “destined hour'; being the fatal wound inflicted by the dragon.

Relationship of Philosophy with Real Life :: essays research papers

Philosophy has a strong influence on everyone’s day-to-day life. We all enrich our lives by thinking about things with a substantial value. We use philosophy as a sort of roadmap to direct us through our lives. We, of course, take other things into consideration while we are going through our day, but philosophy is one of the more ample ones.   Ã‚  Ã‚  Ã‚  Ã‚  Philosophy is, according to the dictionary, â€Å"Literally, the love of, including the search after, wisdom†. This applies to my life, when I am in school and when I am out of school. When I am in classes, I use the available knowledge in books, the lovely newspaper articles from English class (hehe), and the brains of teachers, in order to aid in my ‘hunt’. Wisdom is something that interests almost all of us. It provides us with answers to the everyday problems we run into, and curbs our curiosity. When I am out of school, I read novels in order to expand my imagination, and learn about what happened in the past. The fiction novels I read, allow me to learn about abstract and surreal ideas. I try to dedicate time from my schedule in order to read, because not only does it provide entertainment, but it also allows the intelligence of humans to travel beyond just what is sensible. The intelligence should consist of real hard facts, as well as fictional thoughts as well. I also watch the news about events that are happening around the world. Everyone should do this activity, because you gain insight on mistakes that have happened, and information on how challenges affect people. By integrating both ideal thoughts and real facts, it helps create a better-rounded persona, which is one of the outlining definitions of philosophy. This idea is expressed in the following quote â€Å"the science of truths sensible and abstract†.

Election Laws Cases Essay

1. Cayetano v. Monsod, 201 SCRA 210 FACTS: Monsod was nominated by President Aquino as Chairman of the Comelec. The Commission on Appointments confirmed the appointment despite Cayetano’s objection, based on Monsod’s alleged lack of the required qualification of 10 year law practice. Cayetano filed this certiorari and prohibition. ISSUE: Whether or not Monsod has been engaged in the practice of law for 10 years RULING: YES. The practice of law is not limited to the conduct of cases or litigation in court. It embraces the preparation of pleadings and other papers incident to actions and special proceedings, the management of such actions and proceedings on behalf of clients, and other works where the work done involves the determination of the trained legal mind of the legal effect of facts and conditions (PLA vs. Agrava.) The records of the 1986 constitutional commission show that the interpretation of the term practice of law was liberal as to consider lawyers employed in the Commission of Audit as engaged in the practice of law provided that they use their legal knowledge or talent in their respective work. The court also cited an article in the January 11, 1989 issue of the Business Star, that lawyers nowadays have their own specialized fields such as tax lawyers, prosecutors, etc., that because of the demands of their specialization, lawyers engage in other works or functions to meet them. These days, for example, most corporation lawyers are involved in management policy formulation. Therefore, Monsod, who passed the bar in 1960, worked with the World Bank Group from 1963-1970, then worked for an investment bank till 1986, became member of the CONCOM in 1986, and also became a member of the Davide Commission in 1990, can be considered to have been engaged in the practice of law as lawyer-economis t, lawyer-manager, lawyer-entrepreneur, etc. 2. 18 December 1990 G.R. No. 93867 FACTS: The petitioner is challenging the designation by the President of Associate Commissioner Yorac as Acting Chairman of the COMELEC, in place of Chariman Davide. The petitioner argues that the choice of the Acting Chairman is an internal matter to the COMELEC. It is also averred that the designation done by the President of the Philippines violates the independence of the COMELEC. ISSUE: Whether the designation done by the President of the Philippines violates Article IX-A, Section 1 of the Constitution. RULING: Article IX-A, Section 1 of the Constitution expressly describes all the Constitutional Commissions as â€Å"independent.† Although essentially executive in nature, they are not under the control of the President of the Philippines in the discharge of their respective functions. Its decisions, orders and rulings are subject only to review on certiorari by the Court as provided by the Constitution in Article IX-A, Section 7. The choice of temporary chairman in the absence of the regular chairman comes under that discretion. That discretion cannot be exercised for it, even with its consent, by the President. The designation by the President of respondent Yorac as Acting Chairman of the COMELEC is declared unconstitutiona 2. Sixto Brillantes, Jr. vs. Haydee B. Yorac[G.R. No. 93867. December 18, 1990.] FACTS: Respondent, as Associate COMELEC Chairman, was appointed by the President as Chairmanthereof, replacing former Chairman Hilario Davide; the former chairman was appointed to thefact-finding commission regarding the December 1989 Coup d etat. Petitioner moved for herremoval, stating that her appointment was contrary to Article IX-C, Section 1(2) of the 1987Constitution, where â€Å"(I)n no case shall any Member (of the Commission on Elections) beappointed or designated in a temporary or acting  capacity.†Issue: Is respondents appointment as Chairman in the case at bar unconstitutional.Ruling: Yes. Article IX-A Section 1 of the Constitution expressly provides for the independence of theConstitutional Commissions from the executive department; this means that they are governedby the Constitution itself and cannot be under the control of the Pres. 3. UNIDO VS. COMELEC In 1981, the BP proposed amendments to the 1973 Constitution. The amendments were to be placed to a plebiscite for the people’s approval. The YES vote was being advanced by KBL – Marcos’ Party. While the NO vote was being advanced by UNIDO. To ensure parity and equality, COMELEC issued Resolutions 1467-1469 w/c basically provided that there be equal opportunity, equal time and equal space on media use for campaigns for both sides. On 12 Mar 1981, Marcos campaigned for the YES vote via TV and radio from 9:30pm to 11:30pm. The same was broadcasted live by 26 TV stations and 248 radio stations nationwide. UNIDO petitioned before the COMELEC that they be granted the same opportunity as Marcos has pursuant to Res’ns 1467-69. COMELEC denied the demand. UNIDO assailed the denial as a denial of equal protection before the laws. ISSUE: Whether or not UNIDO was denied equal protection by virtue of COMELEC’s denial of their request. HELD: The SC ruled that UNIDO was not denied due process nor were they not afforded equal protection. It is the considered view of the SC that when Marcos conducted his ‘pulong-pulong’ or consultation with the people on March 12, 1981, he did so in his capacity as President/Prime Minister of the Philippines and not as the head of any political party. Under the Constitution, the ‘Prime Minister and the Cabinet shall be responsible . . . for the program of government and shall determine the guidelines of national policy’. In instances where the head of state is at the same time the president of the political party that is in power, it does not necessarily follow that he speaks with two voices when he dialogues with the governed. The president is accorded certain privileges that the opposition may not have. Further, the SC cannot compel TV stations and radio stations to give UNIDO free air time as they are not party to this case. UNIDO must sought contract with these TV stations and radio stations at their own expense. 4. SANIDAD vs. COMELEC 181 SCRA 529 Facts: On 23 October 1989, RA 6766 (Act providing for an organic act for the Cordillera Autonomous Region) was enacted into law. The plebiscite was scheduled 30 January 1990. The Comelec, by virtue of the power vested by the 1987 Constitution, the Omnibus Election Code (BP 881), RA 6766 and other pertinent election laws, promulgated Resolution 2167, to govern the conduct of the plebiscite on the said Organic Act for theCordillera Autonomous Region. Pablito V. Sanidad, a newspaper columnist of â€Å"Overview† for the â€Å"Baguio Midland Courier† assailed the constitutionality of Section 19 (Prohibition on columnists, commentators or announcers) of the said resolution, which provides â€Å"During the plebiscite campaign period, on the day before and on plebiscite day, no mass media columnist, commentator, announcer or personality shall use his column or radio or television time to campaign for or against the plebiscite issues.† Issue: Whether columnists are prohibited from expressing their opinions, or should be under Comelec regulation, during plebiscite periods. Held: Article IX-C of the 1987 Constitution that what was granted to the Comelec was the power to supervise and regulate the use and enjoyment of franchises, permits or other grants issued for the operation of transportation or other public utilities, media of communication or information to the end that equal opportunity, time and space, and the right to reply, including reasonable, equal rates therefor, for public information campaigns and forums among candidates are ensured. Neither Article IX-C of the Constitution nor Section 11-b, 2nd paragraph of RA 6646 (â€Å"a columnist, commentator, announcer or personality, who is a candidate for any elective office is required to take a leave of absence from his work during the campaign period†) can be construed to mean that the Comelec has also been granted the right to supervise and regulate the exercise by media practitioners themselves of their right to expression during plebiscite periods. Media practitioners exercising their free SANIDAD vs. COMELEC 5. LAZATIN VS. COMELEC Lazatin filed the instant petition assailing the jurisdiction of the COMELEC to annul his proclamation after he had taken his oath of office, assumed office, and discharged the duties of Congressman of the 1st District of Pampanga. Lazatin claims that the House of Representatives Electoral Tribunal and not the COMELEC is the sole judge of all election contests. Buan, Jr., and Timbol (Lazatin’s opposition), alleged that the instant petition has become moot and academic because the assailed COMELEC Resolution had already become final and executory when the SC issued a TRO on October 6, 1987. In the COMMENT of the Sol-Gen, he alleges that the instant petition should be given due course because the proclamation was valid. The Telex Order issued by the COMELEC directing the canvassing board to proclaim the winner if warranted under Section 245 of the Omnibus Election Code,† was in effect a grant of authority by the COMELEC to the canvassing board, to proclaim the winner. A Separate Comment was filed by the COMELEC, alleging that the proclamation of Lazatin was illegal and void because the board simply corrected the returns contested by Lazatin without waiting for the final resolutions of the petitions of candidates Timbol, Buan, Jr., and Lazatin himself, against certain election returns. ISSUE: Whether or not the issue should be placed under the HRET’s jurisdiction. HELD: The SC in a Resolution dated November 17, 1987 resolved to give due course to the petition. The petition is impressed with merit because petitioner has been proclaimed winner of the Congressional elections in the first district of Pampanga, has taken his oath of office as such, and assumed his duties as Congressman. For this Court to take cognizance of the electoral protest against him would be to usurp the functions of the House Electoral Tribunal. The alleged invalidity of the proclamation(which had been previously ordered by the COMELEC itself) despite alleged irregularities in connection therewith, and despite the pendency of the protests of the rival candidates, is a matter that is also addressed, considering the premises, to the sound judgment of the Electoral Tribunal. 6. JAVIER VS. COMELEC [144 SCRA 194; G.R. NOS. L-68379-81; 22 SEPT 1986] Facts: The petitioner and the private respondent were candidates in Antique for the Batasang Pambansa in the May 1984 elections. The former appeared to enjoy more popular support but the latter had the advantage of being the nominee of the KBL with all its perquisites of power. On May 13, 1984, the eve of the elections, the bitter contest between the two came to a head when several followers of the petitioner were ambushed and killed, allegedly by the latter’s men. Seven suspects, including respondent Pacificador, are now facing trial for these murders. Owing to what he claimed were attempts to railroad the private respondent’s proclamation, the petitioner went to the Commission on Elections to question the canvass of the election returns. His complaints were dismissed and the private respondent was proclaimed winner by the Second Division of the said body. The petitioner thereupon came to this Court, arguing that the proclamation was void because made only by a division and not by the Commission on Elections en banc as required by the Constitution. Meanwhile, on the strength of his proclamation, the private respondent took his oath as a member of the Batasang Pambansa. Issue: Whether or Not the Second Division of the Commission on Elections authorized to promulgate its decision of July 23, 1984, proclaiming the private respondent the winner in the election. Held: This Court has repeatedly and consistently demanded â€Å"the cold neutrality of an impartial judge† as the indispensable imperative of due process. To bolster that requirement, we have held that the judge must not only be impartial but must also appear to be impartial as an added assurance to the parties that his decision will be just. The litigants are entitled to no less than that. They should be sure that when their rights are violated they can go to a judge who shall give them justice. They must trust the judge, otherwise they will not go to him at all. They must believe in his sense of fairness, otherwise they will not seek his judgment. Without such confidence, there would be no point in invoking his action for the justice they expect. Due process is intended to insure that confidence by requiring compliance with what Justice Frankfurter calls the rudiments of fair play. Fair play cans for equal justice. There cannot be equal justice where a suitor approaches a court already committed to the other party and with a judgment  already made and waiting only to be formalized after the litigants shall have undergone the charade of a formal hearing. Judicial (and also extra-judicial) proceedings are not orchestrated plays in which the parties are supposed to make the motions and reach the denouement according to a prepared script. There is no writer to foreordain the ending. The judge will reach his conclusions only after all the evidence is in and all the arguments are filed, on the basis of the established facts and the pertinent law.

Acc491 Wk 4 Dq Questions

*What are some of the different types of sampling methods that are available to the auditor? * How does the auditor decide which method to use? How will the different methods affect the audit? The types of auditing samples are broken down into two different categories: statistical and non-statistical sampling. The purpose of auditing samples are designed to give the auditor the results he or she seeks, without having to completely audit 100% of the items within the audit population. Here are some of the different types of auditing samples broken out into the two categories: Statistical Sampling Methods: Random Sampling – Is an auditing method that basically means that all sampling units in the auditing population will have an equal chance of being selected for evaluation, or that no bias would have played a role in what was selected. It is also important the samples that have been selected are not able to re-sampled again. Systematic Sampling – Involves selecting sampling units using fixed intervals between selections, the first interval having a random start. This method is often referred to as interval sampling. This is because this method is where the auditor will take the number of sampling units in a population and divides this into the sample size to give a sampling interval. For example, if an auditor is auditing sales invoice where the sampling interval is 20, the auditor will determine a starting point for sampling and sample every 20th sales invoice thereafter. Non-Statistical Sampling Methods: {text:list-item} {text:list-item} What is the importance of defining the population when performing audit procedures? How will this affect the sample size? How will incorrectly defining the population affect the sampling unit? The auditing population is the whole set of data for auditors to test in order to reach their final auditing conclusion. Auditors need to determine a population in which to examine samples from for specific auditing objectives he or she wishes to complete. For example, if an auditors' goal was to test for overstatements of debtors, the auditing population could entail listing of debtors. However, if the auditor was to testing for overstatements of creditors, then the population would not be only be a listing of creditors, but, also require the auditor to look for subsequent disbursements, unpaid invoices, suppliers' statements, unmatched receiving reports, or other auditable populations that would provide evidence of potential understatements to creditors. When the auditor is designing the auditing samples, the auditor should consider the specific audit objectives he or she wishes to fulfill, the nature of the auditing population for which they wish to sample, as well as any other factors affecting the auditing samples size. The determination of an auditing samples size should require judgment of: Assurance required Tolerable and Expected Error (or Deviation Rate) Stratification Erroneously defining the auditing population can have an incredible affect on sample size as the auditor then has to choose a sample for conducting the audit. Auditors should select sample size in a way that the auditing sample can be anticipated to be a fair representative of the overall auditing population in respect of the uniqueness that is tested. If an auditing population has not been defined then the chance for errors increases the indistinctness of the results taken from the auditing sampling. Furthermore, if an auditing population itself has incorrectly been defined, the sampling unit will not give the anticipated results. These errors can formulate an incorrect conclusion by the auditor, there by defeating the initial purpose of the audit.

The Cost of Independence

â€Å"The Cost of Independence – concerns and fears of Scottish Businessmen† Martina Macakova â€Å"What business leaders in Scotland really seek to hear is a positive discussion on the future for Scotland and what part they can play in shaping it, not a re-run of old arguments about potential damage to the economy of constitutional change. † introduction Ewan Hunter, Director of HunterSearch This essay deals with a discussion about Scottish independence through the perspective of local business leaders.Its aim is to analyze their opinion on Scottish tendencies towards independence, if and to what extent could they influence the results of upcoming referendum and whether Scotland’s business companies could play a role of an ally of the UK government. It provides the analysis of the current situation, especially in the light of recent events, as the First Minister Alex Salmond, leader of the Scottish National Party (SNP), in the beginning of January announc ed that the referendum on Scottish Independence should be held in autumn 2014.In this essay I will attempt to come with a prediction of the possible future development of the opinion of Scottish leading business companies. For that purpose I have examined mostly newspaper articles, opinion polls, governmental documents and public speeches given by the local business representatives. As a secondary source and the introduction to the topic of Scottish Independence I found very valuable a publication written by Jo Eric Murkens, Peter Jones and Michael Keating Scottish Independence: A Practical Guide. A division of state into two sovereign parts would be very complicated and long-term process.It is a process fraught with problems and controversy. Whether it is a break up of marriage or of nations, the major bone of contemption is always the same – who gets what. The division of Czechoslovakia in late 1992 and 1993 could serve as a precedent for similar action, anyhow the situatio n of the Union and former Czechoslovakia differs. In Scotland’s case, controversial may be especially the separation of state debt and North Sea oil reserves; the future of military bases on the island of Clyde, home of British nuclear missiles; question of the membership in the European Union and currency issue.Despite the fact that the independence is primarily a question of national identity and political change, we cannot forget that economic prosperity is prerequisite for well-functioning state. It's Scotland's oil If there was an independent Scotland would it be economic failure or success? It might sound a paradoxical thing to say but the core issue related to the economics cannot be really answered correctly. According to Peter Jones, the starting point for dealing with the economics of independence needs to be existing Scotland.And current Scotland is a Scotland that operates within the United Kingdom of Great Britain and Northern Ireland. It is obvious that public s pending would demand greater income as two new types of costs would affect the public sector. First of all, there are costs incurred by the need to add on functions (such as defense) and those incurred by the need to disentangle the Scottish element of such UK-wide bodies (for example Inland Revenue). Undoubtedly, Scottish government can count on the benefits from obtaining control of offshore oil and gas resources.The representatives of SNP repeatedly assert the Scotland would be among the world’s richest countries. Additional GDP acquired from the profit made by oil companies offshore is something what we can more or less rely on. Before his re-election campaign Alex Salmond grasped the opportunity to dust off SNP’s old slogan â€Å"It’s Scotland’s Oil†. It was a smart move. As the election results showed the resurrecting claim that all North Sea oil – as well as its revenues – belongs solely to Scotland, was what Scottish voters wa nted to hear. Oil and gas resources themselves don’t guarantee long lasting wealth.Douglas Fraser, Scotland Business and Economy Editor at BBC, expressed his concerns that there is an elephant in the room that needs to be discussed. The price of oil is volatile and volatile price of oil means volatile income. Moreover, the trend is clearly for the volume of oil and gas production to fall, though that is partly offset by higher average prices, higher tax rates, and so buoyant revenues. Yet, an economy of an independent Scotland would be dependent on number of variable factors whose precise effects cannot be forecast. Among those unpredictable factors is a haracter of the negotiations that can either minimaze or enlarge the degree of uncertainty. The level of uncertainty affects business confidence and investment and it is something that has been often mentioned by the Scottish business representatives while comenting on the question of independence. As Peter Jones points out, another parameter which stands completely out of political control is whether the general economic environment is good or bad. In adverse times, business would be extremely nervous about independence as would the international markets. In this situation the price of independence could be quite high.The aim of idependence is to change the monetary, fiscal and regulatory regime which is currently the same as the in rest of the UK. The Scottish voters are likely to approve a different kind of a devolution model, which would provide more powers for the Scottish Parliament, particularly in terms of tax-varying powers and fiscal policy in general. The conclusions of a poll conducted by Ipsos MORI in November 2009 are that 66 per cent of the respondents are in favour of the Scottish Parliament having increased its powers, whether in terms of further devolution or fully independence.The attempts to get the public involved and the referendum itself should be appreciated. That is the major di fference in comparison with the zero involvement of Czechoslovak citizens when the dissolution of Czechoslovakia was decided about. More explanation about the proposed concept of independence provides the â€Å"Scotland’s Future: Draft Referendum (Scotland) Bill Consultation Paper†. Independence in terms of the proposal would mean that the Scottish Parliament and Government would be responsible for all areas of legislation, including foreign affairs, defence and taxation, but the Queen would remain the head of the state.The current political and monetary union would be replaced by a social and monarchical union. Although the monetary union would no longer exist, Scotland would keep operating within the Sterling system until it would be decided in a referendum that Euro would be accepted. Although, SNP leaders would most likely to follow the peacefull process of velvet divorce of Czechs and Slovaks, it doesn’t seem that monetary question would be the case as the issue of currency remains unclear.While the Czechs and Slovaks immediately began to create their own currency, the Scots first considered adopting the euro. In connection with lasting Eurozone crisis First Minister Alex Salmond changed his rhetorics and now claims that they would keep the pound. The SNP proposes sticking with sterling until Scots choose, by referendum, to join the euro. According to Douglas Fraser from BBC, his problem, in explaining this policy, is that remaining with sterling leaves the Treasury and Bank of England in London to set Scotland's monetary policy, while having no influence over it.THE business of (un)certainty Until recent time, there has been almost deafening silence on whether Scotland should become an independent country from local business companies. We could argue whether the reason for the lies in potencional risk of going out on a limb, as Douglas Fraser suggest in one of his articles, or if it more simple than that and the business leaders are just too occupied with the current financial crisis. Fraser writes in his article titled Holyrood's challenge to business: â€Å"Iain McMillan seeks to balance support of some policy with pungent criticism.On balance, he says members say the potential advantages of devolved business taxation are outweighed by the likely costs. But it is the criticism that gets McMillan noticed, and nationalist voices can increasingly be heard questioning the legitimacy of the CBI as a voice for business in Scotland. The Federation of Small Businesses, the Scottish Council Development and Industry and Scottish Chambers of Commerce are careful to sit on the fence, probably because their memberships are split on constitutional questions.It is also because the implications of the Scotland Bill, or of increased devolution of taxation powers, are so unclear. [†¦] Representing the banks, insurers and asset managers, Scottish Financial Enterprise wants to know if the tax base could be changed as well as the rate. Would there be additional complexity, and at what costs to business? How volatile would tax receipts be, and can a value be placed on the value of being part of a larger, more diverse tax base, as at present?Even asking questions, which might be seen as hostile or at least awkward, is risky territory for business. † SFE Chairman, Mark Tennant, expressed his concernes regarding independence at the end of his speech at the annual dinner in December last year: â€Å"Our approach, however, should be empirical and focused on facts and the removal of uncertainties. [†¦] Our role is to identify the questions that need to be answered and ensure that the electorate receives an answer before they vote. † Also Danny Alexander who is MP for Inverness, Nairn, Badenoch and Strathspey, and Chief Secretary to he Treasury shares opinion that uncertainty hurts economy and remarks that „if the Eurozone has taught us anything, it is that monetary union between fisca lly independent states is an extremely difficult challenge. â€Å" He argues that Scottish Government says it would continue to operate within the sterling currency area, but doesn’t say how. His message to the Scottish leader „think carefully before sacrificing stability through independence. â€Å" Regarding to the timing of the referendum, David Lonsdale, assistant director of Glasgow-based CBI Scotland, said in an interview. We want it sooner rather than later. † From the comments above is obvious that umbrella organizations associating Scottish business companies such as CBI and SFE are taking the side of UK government claiming that referendum should be held as soon as possible and at the same time expressing serious concers about the benefits of country’s independence. For a long time it seemed that the individual business leaders adopted an ostrich strategy because few Scottish business leaders have spoken publicly about constitutional change.Howev er, year 2012 brought a turnover as some one of managers decided to stir up the still waters a bit. Martin Gilbert, chief executive officer of Aberdeen Asset Management Plc, Scotland’s largest fund manager, spoke out: â€Å"Whether it is independence or not is a matter for the voters to decide. I would like to see all the figures so you can make an informed judgment. At the moment you don’t know what the true figures are. † Boyd Tunnock, representative of the Scottish maker of Caramel Wafers and Snowballs, commented in e-mail statement: â€Å"Scotland and Scottish business needs certainty and clarity.We need the independence referendum to be held as soon as is reasonable so that investors know where they stand. † To some extent the uncertainty was diminished by the Salmond’s clear statement about the referendum date. One of country’s leading businessmen Jim McColl welcomed the Scottish Government’s upcoming consultation on Scotlandâ⠂¬â„¢s constitutional future by saying: â€Å"Many of us in business are convinced a prosperous future for this country depends on more powers for the parliament. Article Business leaders join in referendum debate published on Tuesday this week shows slighty more positive attitudes towards the constitutional change and vice versa express criticism towards the representatives of CBI, SFE and Westminster politicians: â€Å"Members of Scotland's business community have refuted questions over the timing of an independence referendum and called for an end to scaremongering and a proper discussion on the merits of taking all decisions about Scotland within Scotland. [†¦] There is little hard evidence that the referendum or the prospect of Scottish independence is damaging the Scottish economy.Business leaders have in the main expressed either a neutral or a positive attitude towards constitutional change in Scotland. † The author of the article supports his argument by quotin g some of the local business leaders: â€Å"Recently David Watt, Executive Director of the Institute of Directors in Scotland was asked by the BBC's Huw Edwards whether he was concerned by the prospect of a Scottish referendum in autumn 2014, as opposed to the Westminster government's preference for a vote as soon as possible.Mr Watt said that he thought that the date of the referendum made no difference. Having a timetable leading up to the second half of 2014 allowed businesses to plan. † Similar opinion has Dan Macdonald of Macdonald Estates: â€Å"The fact is the biggest decision in three centuries lies before us and we owe it to our children, and those who succeeded us to take whatever time is required to discuss the form and detail of what will be our New Scotland. In order to do that London politicians need to stop peddling scare stories and focus on a meaningful debate about Scotland's future. On the same is also owner of The Residence Glasgow, Sarah Jane Walls who f eels that there should be â€Å"less negative scaremongering and more positive debate about Scotland's future,† continuing that she is â€Å"excited about the possibilities for Scotland as independent country. † According to the survey processed for the Business Insider that covered opinions of business on Scotland’s independence, the majority of businesses (67 per cent) think independence for Scotland would not have a positive effect on their business with only five per cent saying it would be positive and 17 per cent unsure.Questionnaires were sent to companies listed in Insider’s TOP500, SME300 and SPRINT100 lists. One of the CEO with this opinion poll further commented: â€Å"Achieving Scottish independence will not, in itself, prove to be the panacea for the challenges being faced. After all, there is little or no evidence to show any change will be positive. Therefore, to help improve our economy appoint independent Scottish and international busin ess experts to properly advise our inexperienced politicians to tackle the real, everyday issues of business rather than spend unnecessary time debating the future of Scotland without ny clear evidence to support how, and indeed why, the status quo should be changed. † The contrary opinion expressed David Watt, executive director in Scotland of the Institute of Directors, by saying that none of the institute's 1600 members have expressed any concern as to a delay in a referendum vote. A spokesperson for UK Oil & Gas said although the body has no member consensus on the issue of independence, none of its members has raised the issue as a specific concern. Conclusion The aim of this essay was to deal with the issue of Scotland’s independence from the perspective of local business leaders.By analyzing especially newspapers articles that are dealing with the topic I learned that there are three possible attitudes towards Scotland becoming independent. One side represented m ostly by CBI and SFE publicly claims that independence vote could harm Scottish economy. The opposite camp, which is primarily constituted of blue-chip companies, suggests the contrary. These positively thinking business leaders are denying comments that a delay on independence and the independence in general will destabilise the Scottish economy. The third group is classified by being neutral or by refusing to comment on the independence question.It is logical that CBI and SFE are speaking less in favour of independence and the later date of referendum as they have closer relations with the government in London than the individual organization do. In my opinion, even the business leaders that proclamated their support for independence cause and Salmon’s referendum timing feel at least some doubts. Also I think that a lot of the is actually tired of the independence talk and they would rather here from both UK’s and Scottish Government some warranties in the time of ec onomic crisis and that the politicians will support their efforts to kick-start the ailing economy.From the side of the local business leaders there is understandable demand for answers on number of important question. That brings us back to the introduction of the essay where I comment that most of the issues regarding the economic situation of independent Scotland cannot be precisely predicted. However it sounds disappointing. Many options might take place and the situation depends on various factors that Scottish Government cannot influence. We don’t even know the answer to the fundamental question – whether there will be an independent Scotland. UK’s government is strictly against the eparation of the Union, neither the Scots itself are united on the matter and as stands out from the lines above, nor the Scottish businessmen. Still, the independence is surely more realistic than it was couple months ago. I believe that CBI and SFE could be potencial partner of the central government during the future negotiations over independence. They associate number of important companies and they could have certain influence on their members. On the other hand, there is a quite large number of companies, which are managed by people who decided to prove that the idiom â€Å"You can't fight City Hall† is a false statement.My belief also is that business could influence the negotiations, however I wouldn’t say that companies could be determine the public opinion in general. Which side in end the majority of the business leaders joins will depend on numerous factors, especially on how skilfull in answering difficult questions will Scottish political representatives be. SNP with Alex Salmond in lead is trying something that no-one has ever tried before. To conclude I would say that I propably wouldn’t bet on my own prediction because predicting something in terms of the economic situation of independend Scotland is like predicting the unpredictable.References Murkens, Jo E. ; Jones, Peter; Keating, Michael. Scottish Independence: A Practical Guide. Edingburgh University Press, Edinburgh, 2002. Tom Clark. If one day it really is Scotland’s oil †¦ what will we do with it? The Herald Scotland, 29 October 2011. Available online: http://www. heraldscotland. com/news/home-news/if-one-day-it-really-is-scotlands-oil-what-will-we-do-with-it. 15567484 (accessed on 16 January 2012). Douglas Fraser. What would happen to Scotland's economy after independence? BBC. 15 January 2012.Available online: http://www. bbc. co. uk/news/business-16548644 (accessed on 16 January 2012). Douglas Fraser. Holyrood's challenge to business. BBC. 30 September 2011. Available online: http://www. bbc. co. uk/news/uk-scotland-scotland-politics-15122749 (accessed on 10 January 2012). Scotland's Future: Draft Referendum (Scotland) Bill Consultation Paper. 15 February 2010. Available online: http://www. scotland. gov. uk/Publications/ 2010/02/22120157/0 (accessed on 10 January 2012). Danny Alexander. Uncertainty hurts economy. Scotland on

As I Get Older, My Toys Cost More Essay

As I mature, pursue my education, expand my interests, and become more involved in the working world, I am introduced to more technology and different types of people.   As my education is increased, the need and desire for technology to accompany this education increases as well, i.e., computers, lap tops, DVD burners, etc.   With these expanding horizons and increased contacts come responsibilities for higher priced socializing. Technological advancements and improvements occur at incremental rates compared to just 5-10 years ago. Technological advances are centered in transportation, medicine, and entertainment categories.   Examples of entertainment technology that have been introduced in just the last 3 years include Apple’s IPOD and all the existing technological paraphernalia that accompany it.   With innovation and improvement come higher price tags.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As a woman who values education, I desire to purchase books rather than rent from the library in many instances.   Purchasing titles by classics writers are relatively inexpensive, but the investment is more costly than buying the teen magazine or weekly magazine that I have now outgrown.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As a part of the working world, I am continually introduced to new people, making new friends along the way   As I get older, my interests naturally are more involved and intricate and therefore cost more money.   Examples of this are the theater, ballet, symphonies, etc.   These are all more expensive than a weekend movie, or even buying a new movie DVD on the market. . New friends introduce me to their interests.   Therefore, socializing and participating in these events can cost more money than a quick lunch at Taco Bell when I was in high school.   In comparison, when I was younger, playing at the park or playground cost nothing.   Shopping with a pre-teen friend meant insignificant little purchases, i.e., gum, candy, inexpensive jewelry. Naturally, as I continue throughout my lifetime in the working world in the career of my choice, my success will naturally bring with it a higher income.   The higher income will allow me the freedom to buy â€Å"toys† I would not have been able to consider as a younger woman.   Economic freedom frequently comes with age, continued education, and experience.

Tata Nano developing international markets Essay

Tata Nano developing international markets - Essay Example The company has generated approximate revenue of US$ 96.79 billion in 2013 (Tata Group, 2014). The income of the company accounts to almost 3.2% of total GDP in India. In January 2008, vehicle manufacturing segment of the Tata group, Tata Motors has launched a new car model named Tata Nano. The chairman claimed at the launching ceremony that Tata Nano was â€Å"people’s car†. The company advocated that the car would benefit the middle and lower middle income classes of the nation, who were unable to afford expensive cars (Tata Group, 2014). In addition to that, the vehicle was said to be manufactured after considering all safety standards, generated less pollution and highly fuel efficient in nature. The car has gained high success in the Indian automobile market. However, it should be noted that the product has acquired a global recognition and is regarded as cheapest car in the world. This research paper aims to study ways through which Tata Nano can be launched in ot her international markets. The context of the paper will also present an appropriate outline of the marketing plan for introducing the car in a new international market (Abeles, 2001). The non-blue zones in the above world map are markets where Tata Motors are yet to enter. Hence, it is evident that there are numerous new markets where Tata Motors can expand its business. Some markets from the above where Tata Nano is still not traded are: The political authorities of most world nations are actively promoting their domestic automobile industries. This is because progress of automobile industry of a nation helps in enhancing domestic income by generating higher employment opportunities (Alesina and Rodrik, 1994). It also helps in accumulating productive foreign direct investment and stimulates technology transfer within country borders. The government authorities in several countries have introduced new energy conservation policies for the automobile sector. In addition, the

Robert Rays essay The Thematic Paradigm (from his book A Certain

Robert Rays The Thematic Paradigm (from his book A Certain Tendency of the Hollywood Cinema) - Essay Example The traits that Ferris is seen to depict are that of a hero who is not that much respectable. Even though Ray tries to be critic of the American people for being obsessed and liking Ferris, it is clear that Ferris is a true hero. One of the claims that Ray makes is that there are some American heroes such as George Washington who are revered in the American culture. George Washington is depicted as the a hero who has official traits. â€Å"The outlaw hero is someone like Davy Crockett† (Ray 279). The outlaw is seen as a reckless hero. The outlaw hero is depicted by Ferris Buleller. Ferris is a person that offers the kind of adventure that each person who was in high school once had. The depiction is a person with an attitude that is carefree and a person who has a pure sense of adventure. â€Å"Ferris is seen a someone who has values that are embodied in self determination and values that make someone to be free from entanglements† (Ray 279). The character goes out to do what is most desirable and yet is seen as someone who ha less care of the consequences of the actions that he takes. The fact that he takes a cut out of school and take a day in the city is enough to depict the character as an outlaw. He tries to avoid trouble by not meeting with any authoritative figure. The fact that Ferris gets stuck and sneaks behind his father is one trait that makes him be depicted as someone who could have lost the angelic image in an indefinite manner. From Ray’s perspe ctive, there are some traits that American people favour. One of the traits that American people favour is age. Ray can be seen as someone who sees Americans as people who sway towards the stance of younger individuals. The is something that is much attractive when it comes to the picture of childishness outlaw (Ray 279. A good be example will be in a film that is country old western which will equate

Development Appraisal, Project Cost Control Assignment

Development Appraisal, Project Cost Control - Assignment Example The building and construction sector includes contractors who build buildings for residential, industrial and commercial purposes. SECTION-A Question 1 This is a case whereby companies operating in the construction industry need to develop, differentiate,  defend and communicate the development  contribution  they  make to their host country   in just the same way as they manage the value they delivered to customers. Taking a case of buildings:   There are various aspects that defines these statement ‘‘Development value’’ in a more scientific way. ... 2. Four methods of valuation and their illustration using appropriate examples These methods include; DCF valuation LBO valuation Comparable companies’ valuation Precedent transaction valuation A DCF (Discounted cash flow) valuation is a valuation method where future cash flows are discounted to present value. The valuation approach is widely used within the investment banking and private equity industry. In a DCF valuation, one has tom obtain data which includes; historical financial information, working capital, make future projections and calculate unlevered cash free flow, determine capital structure, WACC, present value of free cash flow, enterprise value and finally come up with a DCF sensitivity analysis which now shows the valuation changes with different assumptions and changes in input (Notman, 1998). A LBO (Leveraged Buyout Analysis), valuation is the acquisition of another company using a significant amount  of borrowed money (bonds or loans) to meet the cost of an acquisition. It is used to determine an implied valuation range for a given target in a potential LBO sale based on achieving acceptable returns (O'Sullivan & Sheffrin, 2003). In this kind of valuation the following is taken into account; deal value, historical financials, forecast period, results and output. A comparable company’s analysis is always used in company valuations and is a relative valuation method (Notman, 1998). The method indicates the value of similar companies in relation to different key ratios that is later compared to your business. Common key ratios are: EV/EBITDA and EV/SALES. For this to be successful, one needs to select the multiples of companies, locate the necessary financial information, and spread key statistics ratios and trading multiples benchmark