Investment Appraising Methods

Investment Appraising Methods Introduction The business environment is dramatically changing; investors are more concise and critically evaluate the trends in the market before channeling their cash into any business projects.Advertising We will write a custom report sample on Investment Appraising Methods specifically for you for only $16.05 $11/page Learn More Seitz and Ellison (1995) explains that, before venturing into business projects, investors need to understand investment appraisal methods or capital budgeting techniques; these are regarded as the standard project evaluating methods that help the investor understand the viability of any project. This paper is aimed at discussing and describing the investment appraisal methods that are essential and most appropriate in evaluating an investment project. Under this paper, we shall look at NPV, IRR, Payback period, and ARR. Discussion Net Present Value Net present value is difference between the present value of cash inflows and the present value of cash outflows. In essence, NPV is the present value of future cash flows minus the purchase price (Arnold, 2007). In capital budgeting NPV is used to analyze the profitability of an investment project. The analysis in this case is tied to the reliability of future cash inflows in relation to an investment project will yield. NPV is calculated using the formula: CF0 = Cash flow at time zero, CF1 = Cash flow after one year, K = the opportunity cost of capital and n = number of yearsAdvertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More NPV is used in investment decision-making as it helps in calculating how much an investment project will return to the investor in a given period. The criterion for accepting an investment is that accepts all projects that have a positive net present value unless they are mutually exclusive or there is capital rationing. Consequently, if the cash flow is a negative value, then the project is in a discounted cash outflow status as at that time (Bowlin and Scott, 1990). Investments with a positive NPV are essentially best ones to invest in (accepted). For example if: NPV 0 this means that the investment is capable of earning returns to the investor and therefore, the project may be undertaken. In this case, if there is more than one project under consideration, the one with the highest NPV should be given priority. NPV 0 this means that the project will require the investor to add in more money for the investment to run. This kind of investment projects are unacceptable and hence not worth venturing into them. NPV = 0 this means that the investment will neither gain nor lose value. This kind of projects does not add any monetary value to the investor. Decision on such a project is based on criteria such as strategic positioning. Internal Rate of Return As explained by Gitman (2000), this is the discount rate at whi ch the net present value is zero, it is used in capital budgeting which makes the net present value of all cash flow from an investment project equal to zero. For instance, the higher the internal rate of return, the more profitable the project. In this case, a project with the highest internal rate of return should be undertaken as compared to those with lower IRR. In some cases, IRR is said to be the rate of growth of an investment project is expected to generate.Advertising We will write a custom report sample on Investment Appraising Methods specifically for you for only $16.05 $11/page Learn More The IRR is given by r in the formula In this case if: K r; the opportunity cost is greater than the internal rate of return, the investment project should not be undertaken (reject) K r the opportunity cost is less than or equal to the internal rate of return, the project should be undertaken. Payback Period This is the period required for the return on inv estment to repay the sum of the initial investment (Eisenberg, 1996). It is the length of time required to recover the cost of an investment. It is calculated using the formula Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In calculating the payback period, the time value of money is not taken into consideration. Intuitively, payback period measures the time that a project takes to pay for itself. Shorter payback periods are preferred as compared to longer ones. Results Option A Payback Period This is the time needed in order for the project to pay for initial capital. It has its limitations but it is an easy gauge to add to an analysis of how profitable and good a project is. The shorter the payback is, the better it is as an investment for the company. In option 1, the payback period is 6.15 years as shown in appendix 1and critical acceptance level is 2.75 years. Using this criterion, the project is not acceptable. Internal Rate Return The internal rate of return is 7% that is rates that will yield zero NPV when compared with the negative cash flow of 2.5 million or initial outlay for the project. From this vantage point, it is not a good idea to go ahead with the project simply because the rate o f return is lower than the cost of capital at 12% already. Net Present Value The net present value of a project represents how profitable it will be for the company by using its future cash flow and discounting its value. If its value is bigger than the initial investment, then it is a good investment. The length of years used to calculate the net present value however could affect the NPV that is why it is also of critical importance to determine the correct length of years to use in the analysis. In this case, the option 1 seems to be unprofitable from the NPV point of calculation that is negative of $694,575 as shown in appendix 1. Option A Payback Period the payback period as indicated in appendix 2 is 3.54 years and critical acceptance level is 2.75 years. According to these criteria, the project is not acceptable as the Payback period is lower than critical acceptance level of 2.75 years. Internal Rate Return – the IRR of the project is 18% as shown in appendix 2 and the cost of capital is 12%. According to this criterion, the project is acceptable. Net Present Value – The expected NPV is $ 64,656. The figures of present are already higher than the initial capital outlay by $ 64,656. The only flaw in this analysis would be the length of time used to determine the computation. According criteria the project is acceptable. Recommendation It can be said that the best method for appraising investments is the discounted cash flow methods. This implies that the IRR and NPV provide best options. Gitman (2000) as noted since payback method ignores cash flows occurring after the payback period, it cannot be applied alone because it only gives a general view. On the other hand, IRR is simple to understand but full of shortcomings. Accordingly, it is NPV, which is the best and most reliable appraisal method since it provides a detailed approach. In view of the above assertions, the best option in this case is option B because it has a positive net p resent value and IRR that is greater the cost of capital of 12%. Option A will not be acceptable using any of the three criterions considered in the analysis. References Arnold, G. (2007). Essentials of Corporate Financial Management. London: Financial Times / Prentice Hall. Bowlin, M. Scott, G. (1990). Guide to Financial Analysis. New York: McGraw-Hill. Eisenberg, R (1996). The Money Book of Personal Finance. New York: Warner Books, Inc. Gitman, L. (2000). Principles of Managerial Finance. London: Addison Wesley Longman. Seitz, N. Ellison, M. (1995). Capital Budgeting and Long-term Financing Decisions. Houston: Dryden Press. Appendix Appendix 1- Option 1 Appendix 2- Option 2 Year 0 1 2 3 4 5 6 7 8 9 10 Capital cost (2,500,000) (500,000) operating and maintenance cost After tax operating Expenditures ($50,000) ($100,000) ($100,000) ($100,000) ($100,000) ($100,000) ($100,000) ($100,000) ($100,000) ($100,000) benefits $0 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 Free cash flow (2,500,000) $200,000 $650,000 $650,000 $650,000 $650,000 $650,000 $650,000 $650,000 $650,000 $650,000 Required rate of return 12% Discount Factor 1 0.8929 0.7972 0.7118 0.6355 0.5674 0.5066 0.4523 0.4039 0.36061 0.3220 PV of free cash flow (2,500,000) $178,571 $518,176 $462,657 $413,087 $368,827 $329,310 $294,027 $262,524 $234,397 $209,283 NPV $64,656 IRR 18% Payback period total 0 1 2 3 4 5 6 7 initial cost $3,000,000 2,500,000 $500,000 net cash flows $3,300,000 $700,000 $650,000 $650,000 $650,000 $650,000 Payback period 3.54 years

Censorship and the Communications Decency Act essays

Censorship and the Communications Decency Act essays Censorship and the Communications Decency Act Censorship: suppression of words, images, or ideas that are offensive. Offensive: giving painful or unpleasant situations. These two words can easily be looked up and defined when having to use them in a paper, but trying to describe what should be censored and what is offensive is a daunting task. There have always been huge debates over censorship that aims at the First amendment and whether it is constitutional for a group of people to decide what is right for the people. Even before World War I, there were attacks on what was considered offensive material. Anthony Comstock, head of the Society for the Suppression of Vice, passed the first censorship law in 1873. The law forbade the mailing of anything, in his opinion, lewd, obscene or indecent. (Zelezny, 453) The controversy over censorship raged feverishly after WWI and until the Tariff Act of 1930, many literary classics were not allowed into the United States because of the obscenity contained in them. Over a 15-year period, which began in 1957, the Supreme Court made relaxed restrictions on obscene material. Supreme Court decisions struck down many obscenity statues, states responded by enacting laws prohibiting the sale of obscene materials to minors, and the Supreme Court upheld them. In 1973 and 1987, the Court decided that local governments could ban works if they were without serious literary, artistic, political, or scientific value and were seen by local standards to appeal to prurient interest. The case of Miller v. California (1973), 413 U.S. at 24-25, tried to define and categorize what obscene and offensive meant. The courts invented what was known as the Miller Test. This test contained three parts, which constituted a guideline to isolate hard core pornography and if each one of these parts was proven in court, the material could be l...

Strategic Management Case Study Example | Topics and Well Written Essays - 750 words

Strategic Management - Case Study Example This company is now selling their products in almost all countries through out the world. Imperial says that combining the fourth and fifth largest cigarette companies in the world on a friendly basis makes compelling sense and would be a good strategic fit, and analysts say there would be no major competition problems. (UK's Imperial Tobacco makes $15billion bid for Spanish rival Altadis) SWOT Analysis- SWOT analysis is intended to provide information that is appropriate for the company's resources and other factors for the purpose of maintaining its prevailing market position. It means analyzing the Strength, Weakness, Opportunities, and Threats. All these four factors should have an equivalent role in retaining its market strategy. Strength of a company indicates about its competitive advantage, mainly in respect of its patents, brand name etc. "SWOT Analysis highlights the weaknesses of the company and the threats to which it is exposed; the strengths of the company and the way the company has positioned itself to take advantage of the opportunities." (Imperial Tobacco Group PLC, Corporate Analysis). ... At the same time Threat creates a critical situation within the company's environment. It is a framework for the company to analyze the strength and weakness and for matching the company's opportunities with its threats. The major strength of Imperial Tobacco is that of innovation in the whole business areas. The company is delivering high quality products to their customers through which they are retaining and finding loyal customers for selling their products. The industry average in management practice is only up to 87%, but as far as the company is concerned, Imperial Tobacco achieves 88% towards its performance. Thus it becomes evident that they are the leaders in the industry. VRIO framework is a tool for analyzing an organization's capability for operating its business activities in an effective manner. This is a tool, which is internally applied within an organization for reviewing and improving its functioning. VRIO indicates Value, Rarity, Imitability, and Organization. Value means a firm's capability to utilize an opportunity and to defend any threat from others. It also provides a specification about the resource capacity of an organization. It is helpful for planning the future performance of a company and to defend against competitors. It enhances a company's productivity, which is more beneficial for improving its profitability as compared with its competitors. In order to maintain the Value concept, certain elements like corporate culture, effective management system, developing a friendly work atmosphere, and the adaptation of certain innovative techniques are essential. Rarity means an organization's ability to maintain its resources in the han ds of a few personnel. Due to the scarcity of resources, it is not easy

Analyze two short stories Essay Example | Topics and Well Written Essays - 1500 words

Analyze two short stories - Essay Example Connie is a fifteen years old girl, a typical adolescent, lover of music, theater and boys. Like all teenagers she is in revolt with the existing norms and is in search of independence. The fact that she is unaware of is that, independence brings with it maturity and responsibility and her tender body and mind are not yet prepared for both. While Arnold Friend on the other hand stands for harsh and brutal realities of the world. He is rough and tough. Might is right for him. He personifies lust in its purest form. Connie is impressed by his modern looks and shinning car, forgetting that all that glitters is not always gold. When dragged forcefully into the bitter realities of life by Friend she loses self-control and confidence. Structure of the story The theme is well developed into a unified story. The scene of the story is set in 1960, the period when women have begun their struggle for independence. The concept of modern woman is not yet very common. The naive fifteen years old C onnie sees the whole world from her own point of view. For the rebellions adolescent the life inside the house is very boring. Her mother is always scolding her and comparing her to her elder sister who â€Å"was so plain and chunky and steady that Connie had to hear her praised all the time by her mother and her mother’s sisters.†(Oates 23) Fully aware of her seductive powers Connie is determined to conquer the outside world with her beauty and charm but she is unaware of the forces that are beyond her control. . Exalted in her new discovered power to attract others, specially the high school boys, she finds it easy to control the whole world and lead a life according to her own wishes. She is a perfect epitome of fantasy with her rosy ideas of romance. Appearance is reality for her and everything that exists is real and lovable she â€Å"sat with her eyes closed in the sun, dreaming and dazed with the warmth about her as if this were the kind of love, the caresses o f love.†(Oates 33) The conflict comes in the form of Friend who is powerful, dominating, vicious and ruthless. Connie resists with all her might but she is forcefully dragged into the bitter realities of the mature world. So the whole story becomes tragic. The end is vague like the real life itself in which so many things are unexplainable and hard to understand just as we are told that she sees â€Å"so much land that Connie had never seen before and did not recognized except to know that she was going to it†(Oates 50) Symbolism in the story Symbolism also plays important part in the development of the main theme. The whole story is the symbol of human life; we start our life in such an enthusiastic manner like Connie and want to conquer the whole world. We are euphoric about our energies and power. Then suddenly the bitterness of the hard realities of life shakes us, shattering our belief and faith on ourselves. We are crushed by the burden of life which is often gove rned by the evil forces. Life itself is as vague as the ending of the story. It can be interpreted in so many ways but none of the interpretation bears a happy ending. Music is also used as a symbol in order to develop the theme of the story. It is always there in the fore front or in the back ground leaving its effect on all that is going on. Connie loves music and it is present in her head all the time turning her surrounding into an imaginary world where everything is beautiful and

Involvement of USA in Korean War Essay Example for Free

Involvement of USA in Korean War Essay Different from its involvement in the Vietnam War? In the 40à ¯Ã‚ ¿Ã‚ ½s onwards USA got interested in Asian affairs. Taking into account the fact that they were not defending themselves or any other American ally, they had to further extend territorial boundaries to fall on political-ideological frontiers. Indeed, they were defending its territory from enemies in a new scale: the fear against the developing communism over the world. In these lines, Korea and Vietnam portrayed two international hotspots now focused on Asia, as the stage within the fight of the two global powers: USA and the Soviet Union. Anyways, were the circumstances by which USA faced communism in both countries different? First of all, the background in South-East Asia determined in great scale American intervention in the area, since either country were occupied by other foreign powers: while Korea was under Japanese domination, Vietnam still remained part of the French empire (later becoming member of the French Union). The first case of Korea was already been the stage of the war between democracy and communism. USA was quite anxious since the conflict that had already happened in Germany and the one that was going on in Turkey and Greece, both cases falling under soviet beliefs. After the defeat of the Chinese Kuomintang in 1949, by communist Mao, American leaders began fearing that the rapid spread of the system around the world would be successful one more time in Asia. Thus, USA decided to risk and try obtaining new territory that would give them an ally in East Asia, which, in turn, would give it time to plan more attempts and new victory against communism. Thus, they fought against the Japanese settlement as an excuse to free the territory in the name of democracy. However, the Soviet Union was also very interested in the area for the same reasons: a new ally and victory against capitalism. Anyways, the whole territory was firstly freed under the name of United Nations, towards democracy, for support free peoples who are resenting attempt subjugation. However both powers claimed their part very soon. Both powers set up a divisor line along the 38th parallel, where the North would be under Soviet aim and the South by American intervention. Then, although elections were held in South Korea (August 1938) supported by UN, Russia rejected to do so in the North. The South became the independent Republic of Korea and the North adopted the name of Democratic Peoples Republic of Korea, very much in the lines of Chinese system. The tension now remained very high at either sides of the line. Since the president of North Korea by the time, Kin IL Sung might have been encouraged by the Chinese government and Russia with military supplies to test USA President, Trumans determination, showing him that communism was the dominant power in Pacific Asia, also with the promise of spreading further very soon. At that stage, the domino theory was beginning in American minds. This concept applies to the idea that the fall of one state to a common system would lead inexorably to a series of the same. Therefore, if communism triumphed in China and Korea was already under its influence, the wave could have an unlimited repercussion in the entire area of South-East Asia. Thus, behind these ideas, American troops were ordered to Korea to withdraw North Koreans troops after their invasion in the south republic, together with forces from another 14 countries all under the command of General McArthur. However, afterwards, South Korea was almost taken by North Korea troops but American troops regained control in the territory later and also two thirds of North Korea, in its advance northwards. With this movement, they eventually placed a fleet between Taiwan and China mainland. Thus, China now feared them to help Chiang Kai-Shek troops from the island to come again and conquer the region of Manchuria as the most important industrial and strategic area. This attempt, if successful, would cut off the problem of communism in Asia, since China would turn back to democracy and therefore either North Korea would remain isolated or without Chinese help, she would not be able to survive in the area for long. These reasons made the Chinese government launch a massive counter offensive in 1951 that captured South Korea capital again. Now McArthur was afraid of Chinese power and thought that the best strategy to defeat communism in the area was only possible with atomic bombs. With this new horizon within the fight, president Truman feared a large-scale war that would provoke a nuclear war, which USA did not want. It pointed out the American limitations that would enclose them within the fight: they feared communism because the nuclear power that could destroy them, but the only force capable to defeat it was their nuclear power, something that, however, they could not use since it would drag them into a fatal war. Thus, now, the only American possibility focused to settle in East Asia to contain communism there: in January 1951 UN troops expelled the North Koreans troops from South Korea and fortified the frontier, until in July 1953, both countries firmed a peace agreement that stated the limit at the 38th parallel. After American impossibility for annexation of territories in East Asia, the new step had to be focused in the South, due to the independence of Vietnam, Laos and Cambodia from the French Union (Geneva Agreement, 1954). Then, Vietnam was temporarily divided into two countries, and analogously as Korea, the frontier was established at another parallel, in this case the 17th one. In 1956, elections were to be held in the whole country, but they never were and only in South Vietnam a referendum was held in 1955, which gave Ngo Dinh Diem as the president. He did not want to hold elections for the whole country and USA, with Eisenhower as the new president feared much more intensely the domino effect. Moreover, Diem was unable to rule the country, mainly because he was very unpopular among the peasants, which furthover, in the future encouraged unwilling towards American presence in the south and appetence for communism. At this stage the Vietcong (the guerrillas) in the south were receiving supplies, equipment and troops from North Vietnam. Ho Chi Minh, who was leader of the resistance against French Union and who wanted communism to rule the country, thought that giving aid to South Vietnam against Diem, national elections would not be held and to unify the countries forces would be necessary. Thus, the next American presidencies had to launch a very strong campaign to stop the communism wave in Vietnam: -Kennedy (1961-3) tried to keep American involvement against the guerrilla, by sending advisors, military equipment and enclosing local peasants into fortified villages to isolate the Vietcong outside. However, this failed since most of the peasants were members of the Vietcong. -Johnson (1963-9) decided to bomb North Vietnam (1965), as he thought that Ho Chi Minh controlled directly the Vietcong. He also sent half million troops in the south. However, due to the great pressure of American public against the war, since they saw the conflict as a total failure, Johnson stopped the bombing in March 1968, although he did not want to withdraw. -Nixon (1969-74) based his plan in the new concept of Vietnamization: As public opinion did not allow him to send more troops to Vietnam, he would use the ones that were already there to re-army the Vietnamese army keep their own defence. That would allow gradually American troops to withdraw. However, he began a new wave of bombing in the north, but this time including Cambodia and Laos, as they were receiving supplies and troops from North Vietnam. Despite all the measures and policies, at the end of 1972, the Vietcong controlled almost the entire territory and several factors obligated the American intervention to reach the end. Eventually a ceasefire was agreed in January 1973. Then, American troops were withdrawn and in 1975 the Vietcong unified the whole country under a communism government by occupying Saigon, the capital of South Vietnam. Also in Laos and Cambodia the system was established the same year. Taking all these explanations into account, I can state that there were slight differences between the American policies in both the Korean and the Vietnamese wars. The main reason was the potential force used in each one, and China played an important part. It applies to the fact that the attack against them was not as ruthless as in Vietnam, mainly due to Chinese power. While in Vietnam neither China nor Russia supported the army as directly as in Vietnam, in Korea China was directly involved since the problem was slighted related with the relationship between USA and Chiang Kai-Shek troops. For China, American troops recovered Manchuria, they would give back China mainland to them. Communist China was not willing to accept that, and USA knew that she was capable of fighting bravely to an extent that USA did not want to test, since the split of the Sino-Soviet agreement left China in an uncertain situation from the international point of view: We do not want the fighting in Korea to expand into a general war. Therefore, American government did not risk indeed and the only price was to lose North Korea. Nevertheless, in Vietnam they could use a more violent system as they communist China was already established and did not fear USA any more. Moreover, the conflict was seen under UN eyes: solely for the purpose of restoring the Republic to its status prior to the invasion. For international support, it was a fight towards the human rights, since North Korea under communism did not want to hold elections. However, UN never supported the war in Vietnam and the international view of the war and American methods to be victorious pressed the government to reach the end of the conflict. Therefore, differences between the both wars was mainly due to internal factors of each country, but especially the foreign intervention that encouraged or restrained American actions to act in one way or another.

Aztecs Essay -- essays research papers

Aztec The Aztec Indians, who are known for their domination of southern and central Mexico, ruled between the 14th and 16th centuries. Their name is derived from Azatlan, the homeland of the north. The Aztecs also call themselves Mexica and there language came from the Nahuatlan branch of the Uto-Aztecan family.   Ã‚  Ã‚  Ã‚  Ã‚  The Aztecs were formed after the Toltec civilization occurred when hundreds of civilians came towards Lake texcoco. Late families were unfortunate and were forced to go to the swamp lands. In the swamp lands there was only one piece of land to farm on and it was totally surrounded by more marshes . The Aztec families some how converted these disadvantages to a might empire known as they Aztec Empire. People say the empire was partially formed by a deeply believed legend. As the the legend went it said that Aztec people would create a empire on in a swampy place where they would see an eagle eating a snake while perched on a cactus which is growing out of a rock in the swamplands. This is what priests claimed they saw while entering the new land.   Ã‚  Ã‚  Ã‚  Ã‚  By the year 1325 Their capital city was finished. They called it Tenochtitlan. In the the capital city aqueducts (piping) were constructed, bridges were built, and chinapas were made. Chinapas were little islands formed by pilled up mud. On these chinapas Aztecs grew corn, beans, chili peppers, squash, tomatoes, and tobacco. Tenochtitlan (the capital city) was covered in giant religious statues in order to pay their respects to the gods. In the Aztec religion numerous gods controlled an Aztec’s daily life. Some of these gods include: Uitzilpochtli (the sun god), Coyolxauhqui (the moon goddess), Tlaloc (the rain god), and Quetzalcoatl (the inventor of the calendar and writing). Another part of the Aztec religion was human sacrifices. For their sacrifices the priest would lay the man or woman over a convex (rounded) stone, then he would take a sharp knife and cut the victims heart out. They did this because they believed that good gods could prevent bad gods from doing evil things and they also believed that good gods got their strength from human blood and hearts so they had sacrifices in order to keep their gods strong. For major rituals warriors were sacrificed, for the warrior this was one of the greatest hon... ...eternity. The earth was thus created through fire and death; the earth mother had fallen, the moon goddess was dead, and her brothers slaughtered.   Ã‚  Ã‚  Ã‚  Ã‚  And so is the story of the Aztec creation. They based their lifestyle on the examples set by the gods and goddesses in the story, thus they led violent lives. The Aztecs saw no wrong in torturing, maiming, and decapitating their neighbors for the gods. They were a savage people, and this savagery would be their downfall.   Ã‚  Ã‚  Ã‚  Ã‚  In 1519 Hernando Cortes` led over 500 men into Aztec territory in search of gold, what he found were the magnificent golden statues of the Aztec deities. The Aztecs believed him to be the representative for some white skinned god, and hence feared and respected him. It was not until they saw him melting their statues and shipping the blocks of gold to Spain that they acted. They attacked Hernanado and his men, and succeeded in driving them off. However, Cortes returned later with the support of local Indian tribes that hated the Aztecs for centuries of cruel treatment to defeat the mighty Aztecs and take the empire. This ended the Aztec civilization forever.

The Stamp Act

Jamie Brissette Hist310 Tue/Thur 9am #2 paper The Stamp Act Riot, 1765 Francis Bernard wrote the document â€Å"Stamp Act Riot, 1765† about the colonies response to Parliaments stamp act. The colonies or the Stamp Act Congress questioned whether it was right for Parliament to tax the colonies. In doing so Parliament created a rebellion within the colonies who only wanted a say in their Government and decisions being made. If Parliament had treated the colonies better, respected their rights to govern themselves, and had given them a say maybe this would not have contributed to the series of events leading up to the Revolutionary War. Bernard 106) The Stamp Act was an important act introduced by the British Prime Minister George Grenville and it was passed in March 1765 by the British Parliament. (Henretta 137) Its purpose was to raise money for the British army stationed in the American colonies. The Stamp Act required tax stamps for public documents such as newspapers, legal documents, customs documents, licenses, playing cards, deeds, and almanacs. Since Britain was left with a large national debt from the Seven Years’ War, the British government felt that since the colonies benefited that they should contribute to the expenses.As Francis Bernard describes the  American colonies  acted strongly against this matter. This all took place in Boston Massachusetts. During the summer of 1765, because of the Stamp Act, there were many protests in the colonies. These protests involved everyone from civic leaders to street mobs. In many cities and towns the slogan became â€Å"no taxation without representation†. The Sons of Liberty were a secret organization that often organized these protests. Many acts of violence and a lot of pressure centered towards the Stamp Agents, by fall almost all Stamp Agents resigned.The Virginia Assembly declared that the Stamp Act was unjust and illegal. The assembly passed resolutions against taxation by the Bri tish Parliament. The Massachusetts House of Representatives invited all of the colonies to send delegates to a General Congress. The colonies that accepted the invitation and sent delegates to the General Congress were New York, New Jersey, Connecticut, Maryland, Delaware, Rhode Island, Pennsylvania, South Carolina, and Massachusetts. In October of 1765 in New York City a Stamp Act Congress was held. It was represented by nine colonies.The Stamp Act Congress declared that stamp taxes could not be collected without the people’s consent and that the colonists’ right to be taxed was only by their own elected representatives. Merchants agreed not to import British goods until the law was repealed. That led to the British Parliament being bombarded by petitions from English merchants not importing their goods. Many English political leaders argued that the law was unenforceable. (Bernard 106) Finally on March 4, 1766 the Stamp Act was repealed by the British Parliament. The unity of the American colonists in their opposition towards the Stamp Act contributed to this appeal.The Stamp Act was one of the many events leading up to colonist having enough and wanting to govern themselves. This Act and the protests leading up to the appeal help create American Nationalists who wanted to separate from Britain. The conflict between the British government and the American colonists over the Stamp Act is considered one of the causes of the American Revolutionary War.Sources www. online-literature. com www. wikipedia. com Documents for American History Chapter 5, 5-4 â€Å"The Stamp Act Riot, (1765) by Francis Bernard, pages 106-107 America A Concise History by James A Henretta pages 137-138 The Stamp Act â€Å"No taxation without representation! † (Americas Past and Promise) That was the colonist’s famous saying. The colonists were being taxed with no say in parliament. They were getting taxed with the Stamp Act, the Tea Act, and the Sugar Act, but those were only a few. Eventually the Stamp Act was successfully repealed, yet the Stamp Act was the catalyst for the American Revolution. The stamp Act was the first attempt for Brittan to directly tax the colonists. (Mason Lorna) Brittan thought that since they owned the colonists they could tax them, and the colonists would and have no say.Brittan put a tax on all diplomas, wills, playing cards, and other everyday advertisements. (Mason Lorna) â€Å"Brittan stated that all documented papers had to contain a stamp that said the items were taxed. † said Bilven junior. Stamps were very expensive then and not many people could afford them. The October delegates met and stated that the colonist will not be able to have a ny say in parliament. This mad the colonists enraged. This was the cause of the first true rifts between the patriots and the loyalists. The colonists held an orderly Stamp Act congress to protest the law.The colonists rioted in seaport towns. (Bilven junior) Most assemblies believed that they had the right to decide on their own laws. Men who sold stamps were threatened or their houses were set on fire. The houses of the people who approved this act were also set on fire by the colonists. The colonists started to boycott the English goods that had to be stamped, and this started to make the imports go down. Colonists drew up petitions stating that the right to tax belonged to assembly colonies. The colonists were very unhappy with this tax and started to do just about anything to get rid of it.Benjamin Franklin was one of the very important people who stood up to Brittan and got the Stamp Act repealed. Benjamin Franklin argued and warned the English that the continuation of this ta x could lead to rebellion. In 1766 well law abiding business men repealed the Stamp Act. Though the Stamp Act was only one out of the many taxes that Brittan placed on the colonists, the stamp act was the most important. The Stamp Act was a big help in starting the Revolutionary war. The Stamp Act was also one out of the many to get repealed so quickly. The Stamp Act was not only a loss to the colonists, but a great benefit also.

Christianity in the Land of Santhals

There is considerable difference of opinion among Christians over the story of Creation. From the Catholic perspective God is ever present in some aspect. There are significant themes in the Bible, Moral Therapeutic Deism and â€Å"NOAH† that explicitly express distinct views of creation. The central idea in all three expressions is that God is in existence and created the world. However, the creation stories differ significantly regarding the purpose and reason of the world, more specifically human beings. The story of creation differs greatly throughout the Bible. The amount of altering views in the book of Genesis alone is astounding. Genesis is the study of beginning; the record of all creation along with sin. It is â€Å"mythic† in the way that it tries to make sense of the world. Genesis contains two creation stories. In chapter one and the beginning of chapter two, the first story expresses the stages of creation in six days, with each day expanding from the day before, until creation achieves its peak when God makes human beings in His image. In Genesis I, the world begins â€Å"in the beginning† of everything. From a void, God creates everything out of nothing. â€Å"1 In the beginning God created the heavens and the earth. 2 Now the earth was formless and empty, darkness was over the surface of the deep, and the Spirit of God was hovering over the waters.† (Genesis 1:1-2) God created light and darkness on day one, the next day He created the atmosphere and divided it from the oceans, on day three God created land, water and vegetation, the next day He created the sun, moon and stars, on day five God created creatures to fill the sky and water, on day six He created creatures to fill the land, and on the last day of creation God rested from all His work. The second story of creation centers around the creation of a human being. God took dirt and breathed life to create the world and humanity. In this Genesis story, creation was more experimental. This can be seen through His creation of Adam and eventually Eve. God seems to be enthusiastic about the world. Similar to Genesis I, God created humanity out of His love and kindness. â€Å"And God saw that it was good.† (Genesis 1:4) He plants a garden and creates animals to entertain Adam and Eve demonstrating how deeply He cares for them and all future humanity. Furthermore, when God created man and woman in His own image, the Bible says, â€Å"And God saw everything that He made, and behold, it was very good.† (Genesis 1:31) God was fulfilled with His creation and looking at it gave Him a kind of bliss. The Genesis creation accounts set up a specific problem by stressing the goodness of everything that God has made and continuously deny that the world is broken from the start by a battle involving the forces of good and evil. Although Genesis does not precisely state how evil enters the supposed to be good world, it describes how Adam and Eve introduce the idea of disobedience to God into creation. God in turn created unnatural curses on the future of humanity. These curses, including men to toil in the field, women to be ruled by their husband and experience excruciating pain during child birth, and the inevitable death of all creation, were meant to punish Adam and Eve for their sinful actions. As time advanced and sin expanded, humans eventually deviated so far from good that they started trusting in and worshipping other so-called divine beings. The record of the beginning of humans gradually developed to correspond with the life of transgression, violence and these new convictions. This can be seen explicitly in the movie â€Å"NOAH†. In this movie, the opening scenes make it apparent that God created humans to be good. Because mankind was becoming too sinful, God called upon Noah to build an ark that can sustain the flood that He would create to wipe out the human race. â€Å"NOAH† is a cinematic train wreck that expresses the de-creation story put in action by God. Certain scenes in this movie express how the human race has become nothing but violent. The main character, Noah, even states that he, along with his family, has the darkness inside him. This can be seen through the savagery toward animals and the treatment of women and children throughout the movie. In Genesis, God set a moral standard by which the human beings must live. Although, in the Bible, we know that both humans and animals have become violent, â€Å"I have decided to put an end to all flesh, for the earth is filled with violence because of them.† (Genesis 6:13), ‘Morality' in other animals is simply their instincts. This can add to the claim in the movie that animals are entirely innocent and require protection from the immoral actions of humanity. Genesis places human life in accordance with the life of animals. The first story places the creation of mankind on the same day, day six, as the creation of animals. In â€Å"NOAH† there is an essential division between humans and animals. Instead of saving the human race, God orders Noah to bring two of each species on earth onto the arc to save the animal species. He does this because there is the idea that animals acquire an innocence that human beings clearly do not. This stresses that God saw animal kind as innocent and, in a way, above humans. In the first Genesis story, God created human beings to fill the Earth and order it. â€Å"God blessed them and said to them, ‘Be fruitful and increase in number; fill the earth and subdue it. Rule over the fish in the sea and the birds in the sky and over every living creature that moves on the ground.'† (Genesis 1:28) This verse describes God's purpose for the human race as being fruitful while subduing the Earth. Moral Therapeutic Deism proposes an elevated view of self. It is a very individualistic deism that has the idea that God wants humans to have â€Å"good† morals. The five beliefs of Moral Therapeutic Deism are that God exists and created the world, God wants people to be good, nice and fair to each other, the central goal of life is to be happy and feel good about oneself, God does not need to be particularly involved in one's life except when He is needed to resolve a problem, and good people go to heaven when they die. The first belief is a direct contradiction to the Incarnation in Scripture. It holds the conviction that God made the world then pulled back from it turning away from human beings. The second belief also contradicts Scripture. Christ did not come to Earth to make unmoral men â€Å"good†. He did not come to us to reform us but to reclaim creation from the scourge of sin. Having a behaved people was not His objective. The third belief is a very self-interested idea because happiness means something different to every person. This claim that the end goal of a person's life should be to find happiness completely redefines the idea that God wants people to be nice, fair and kind considering that people can define these traits differently. In Scripture, God yearns for more than merely good behavior and occasional happiness. â€Å"Therefore, anyone who sets aside one of the least of these commands and teaches others accordingly will be called least in the Kingdom of Heaven, but whoever practices and teaches these commands will be called great in the Kingdom of Heaven.† (Matthew 5:19) The fourth belief also contradicts the Incarnation. God is involved in every aspect of our lives. The Kingdom of Heaven, along with God, is current and present. He is exceptionally active in the life and well-being of His creation. â€Å"Behold, I am with you and will keep you wherever you go and will bring you back to this land; for I will not leave you until I have done what I have promised you.† (Genesis 28:15) This idea that God created the world and humanity just to leave it alone can also be seen in the movie â€Å"NOAH†. Repeatedly throughout the movie, Tubal-Cain curses God and is angered by the lack of communication between God and humanity. Except for Noah, who regularly claims to see and hear signs from God, human beings felt that they were, in a way, left in the dark. This caused them to act out and eventually believe that they could do anything they wanted including savagery. The fifth belief is also considered false by Scripture. Heaven is about being present and in constant communication with God. People do not go to Heaven, Heaven comes down to us. â€Å"No one has ascended to heaven but He who came down from heaven.† (John 3:13)

Film Production essays

Film Production essays In the period previous to the 1930's, the predominant form of filmmaking was that of the crank camera. This is not to say that motor-driven cameras were not possible. However, the motors to advance the film were so large that they were simply too cumbersome to be effective. Thus, it was the cameraman himself who would crank the film at a steady rate to expose the frames. When it came to showing the film, on the other hand, motor driven projectors were quite convenient, and by the 1920's a standard 24 frames per second was established for projecting films. Filming, however, remained unstandardized due to the inherent variation in recording speeds, since it depended directly on the cameraman. An experienced cameraman was capable of filming an entire film at approximately the same speed, yet often variations were made in the recording speed for dramatic effect. Decreasing the number of cranks, for example, exposed fewer frames and thus when projected at the standard 24 frames created the frenzied action that characterized much of the Vaudeville cinema. The French filmmaker Georges Melies was among the first to employ changing backdrops and costumes to tell his story. Up until that point many film were only a few minutes long taking place on a single set. Changing sets and costumes opened a vast range of new possibilities and spurred further growth in the fledgling industry. As the film industry expanded in America, filmmakers found and increasing need for to establish a single location at which they could build sets and film ...

Free Essays on Drug Trafficking

Unbelievably, illegal drug trafficking affects about every country in the world. The major countries in Latin America where the illegal drugs are grown are Bolivia, Peru, Colombia, Ecuador, and Mexico (â€Å"Drug Trafficking in the United States†). From these countries, they are shipped mainly to the United States and Canada, but are also shipped to European countries such as the Netherlands, England, Spain, and Germany. A variety of drugs are sent across the borders of Latin America countries which include: Cocaine, Marijuana, Heroin, Methamphetamine, MDMA which is also called Ecstasy, LSD (Lysergic acid diethylamide), PCP (Phencyclidine), Flunitrazepam, GHB(Gamma hydroxybutyrate), and Steroids (â€Å"Drug Trafficking in the United States†). The first known drug traffic is not known to man, but major trafficking began in the late nineteen seventies from Colombia to the United States. Drug trafficking not only effects the Latin America who supply the drugs, drug traffic king also effects the receiving such as Canada and the United States. In the receiving countries, almost every citizen is affected both directly and indirectly. Along with citizens, the economy and market is influenced from this activity. Not to be confused that Latin America is only one region where illegal drugs are shipped from, illegal drugs are also shipped from the Middle East, Southeast and Southwest Asia (â€Å"Drug Trafficking in the United States†). Illegal drug trafficking is a serious problem in the United States of America and other countries in the world, but countries in Latin America look at drug trafficking as a profitable business. The â€Å"War on Drugs† in the United States has been going on for about twenty-five years, but drug trafficking around the world has been going on for centuries (Lobe 1). Bureaus and Departments such as the Bureau of Narcotics and Dangerous Drugs began to arise in the United States in the late nineteen sixties due to the rise ... Free Essays on Drug Trafficking Free Essays on Drug Trafficking Unbelievably, illegal drug trafficking affects about every country in the world. The major countries in Latin America where the illegal drugs are grown are Bolivia, Peru, Colombia, Ecuador, and Mexico (â€Å"Drug Trafficking in the United States†). From these countries, they are shipped mainly to the United States and Canada, but are also shipped to European countries such as the Netherlands, England, Spain, and Germany. A variety of drugs are sent across the borders of Latin America countries which include: Cocaine, Marijuana, Heroin, Methamphetamine, MDMA which is also called Ecstasy, LSD (Lysergic acid diethylamide), PCP (Phencyclidine), Flunitrazepam, GHB(Gamma hydroxybutyrate), and Steroids (â€Å"Drug Trafficking in the United States†). The first known drug traffic is not known to man, but major trafficking began in the late nineteen seventies from Colombia to the United States. Drug trafficking not only effects the Latin America who supply the drugs, drug traffic king also effects the receiving such as Canada and the United States. In the receiving countries, almost every citizen is affected both directly and indirectly. Along with citizens, the economy and market is influenced from this activity. Not to be confused that Latin America is only one region where illegal drugs are shipped from, illegal drugs are also shipped from the Middle East, Southeast and Southwest Asia (â€Å"Drug Trafficking in the United States†). Illegal drug trafficking is a serious problem in the United States of America and other countries in the world, but countries in Latin America look at drug trafficking as a profitable business. The â€Å"War on Drugs† in the United States has been going on for about twenty-five years, but drug trafficking around the world has been going on for centuries (Lobe 1). Bureaus and Departments such as the Bureau of Narcotics and Dangerous Drugs began to arise in the United States in the late nineteen sixties due to the rise ...

American Government Essay Example | Topics and Well Written Essays - 1500 words

American Government - Essay Example This is because the minority party can have powers to control the interests of the majority party in doing as they wish and desire. In addition, another reason for filibuster in the senate is to keep the senate from becoming a House, which may be succumbed to the passions of the day. In my view, I think filibuster should not be eliminated since it is a remarkably crucial and unique issue in the U.S. government. The filibuster should not be eliminated since it is a strong tool to the minority party. The minority can use the filibuster in making a point or trying to get their way. In the senate, a senator or his minority party can block a full nomination or senate consideration of a certain bill through unlimited debate of a proposal. The use of the filibuster by the minority ensures representation of the minority party in the senate, which creates a balance in the senate. Hence, the filibuster in the senate should not be eliminated since its withdrawal in the senate would threaten fre e speech and debate in the senate. List and explain some of the various roles (constitutional and extraconstitutional) that a president must play. Of these roles, which role do you believe is most important for a president, and why? The American president has both constitutional and extra constitutional roles with which he is associated. One of the constitutional roles of the American president is assuming the role of chief of state. Through this role, the president acts as a symbolic leader of America and abroad. When assuming this role, the president should be above politics. Another constitutional role assumed by the president is that of the chief administrator. In playing this role, the president is responsible for executing all rules and overseeing the bureaucracy. Another constitutional role is being the chief commander. In assuming this role, the president does not play a symbolic role; he decides what to do in times of conflict. The president is given a superior ability in a ssessing and reacting to situations. In addition, the president plays a constitutional role in assuming the role of a chief diplomat. In this role, the president determines countries to negotiate foreign policies and the ones to recognize officially. On the other hand, the president plays the role of a party leader as one of the extra constitutional roles. Another extra constitutional role played by the president is that of an economy manager. In taking this responsibility, the president directs the economy. In addition, another extra constitutional role of the president is being the voice of the people. The president represents all the people for the entire nation since it is the only position, which the whole nation has to decide who will be the leader. Of these roles, I think being the chief commander is the most vital role. This stems from the fact that the president is capable of analyzing situations and coming up with strategies to protect the nation. Describe the process wher eby the Supreme Court sets its agenda, makes its decisions, and delivers them to the public. The process of Supreme Court’s agenda-setting commences when a party loses a case in a lower court, desires the Supreme Court to evaluate the verdict of the lower court, and files a petition for an appeal with the court or a writ of certiorari. After the petition for certiorari and entire accompanying briefs are recorded, the office of the Supreme

Problems and differences with gender in business accounting Research Paper

Problems and differences with gender in business accounting - Research Paper Example The glass ceiling barriers are evident even among students who exhibit the interest of pursuing a career in accounting. This paper will discuss gender differences and problems in the accounting field. Business accounting is a field that was saturated by men initially, with few women taking up the career. Many people considered it a career designated for men because it is highly demanding, and patriarchal attitudes dictated that only men had the resilience to hold such pressure. Although women have ventured into this career in the recent past, research reveals that gender differences still exist in this career (Shalhoub 1). Although women have proven their resilience and breaking the first layer of the glass ceiling barriers placed before them in this career, it is evident that they have multiple barriers resulting from the remaining composite glass ceiling. Although women have gained entry into this career, and have excelled in different certifications of accounting, gender issues st ill pose a barrier. Evidently, the competition in the business world has served to raise the bar for many people who intend to adopt a career progression in accounting (Tsamenyi and Uddin 123). Many women have advanced education in this accounting exhibiting the potential of competing with men in academic qualifications. However, despite having the academic qualifications and making efforts to advance their education after gaining entry into the career, it proves difficult for women to receive promotions. Evidently, many senior accountants are men, with organizations preferring to reserve that post for males. Although they have the relevant qualifications, gender stereotypes prevent women from progressing faster in their career. Such stereotypes motivate male employers to hire make accountants, and if women are hired, they are placed in the lower ranks in the accounting department (Riahi-Belkaoui 87). This has made it difficult for women to break the glass ceiling barriers completel y. In comparison to male accountants, women are likely to register longer time before they receive a promotion. In other cases, women with similar academic backgrounds to men may be placed at a lower rank than the men. Men exhibit negative attitudes that serve to limit women because of the technicality of the accounting job. This presents a problem when women receive promotions because the men may work towards proving that women lack the required competence for the job. Instead of offering the right kind of support, men may serve to make the responsibilities of the women tougher. In reaction to the negative attitudes, some women often embark on proving that they have fit for the job instead of promoting organizational financial goals. The accounting department often works closely with other departments, and may face the compulsion to make critical decisions that can pose serious consequences for the organization. This is one of the aspects that has contributed to the development of stereotypes that prevent female accountants from being considered for promotions. Many men believe that women lack the capacity to make such critical decisions (Kuersten 67). In cases where women hold the office of senior accounting, and exhibit the competence of making such decisions, men are likely to feel inferior. Such factors often trigger problems