Assignment On Managing Financial Resources And Decision Finance Essay

Assignment On Managing Financial Resources And Decision Finance Essay Executive summary: In this assignment different types business forms like sole trader, partnership, and limited companies are briefly discussed. Also discussed how they perform and what are the requirements to start a business? How we finance business. The needs of financing like short, mid and long term resources include briefly in this assignment. There are share capitals, bond debenture, called up share capital, share premium, EPS dilution and diluted EPS. These terms are discussed from many books and websites. Introduction: John Caird had been working in an engineering consultancy firm. Recently he laid off with redundancy payment. He is planning to start his own business. In this assignment I discussed various forms of financing of business, how he can start his business, what are the problems of his business and many business and finance terms. Chapter-1- Identifying the sources of finance available to business. Task answer: There are several possible business options for John Caird. These options are sole trader or proprietorship, partnership and corporation. Sole trader or proprietorship 2. Partnership 3. Limited company Sole trader: a sole trader is an individual in business. Generally sole traders businesses are small with their own name. It is the most common organization. There are some advantages of being a sole trader: independence, personal service, simplicity. Since they have few legal requirements, sole proprietorships are easy to form and operate. They can also be more affordable since no legal documents need to be filed in most cases. Basically, all one has to do to form a sole proprietorship is get a business license and begin operations. Although the sole proprietorship does have the advantage of simplicity, the negatives can turn entrepreneurs away from this form of business association. The disadvantages of a sole proprietorship stem from its very nature the business and the business owner are undividable. This leads to three potential problems. First, owners can lose some beneficial tax-free perimeter benefits because they cannot participate in company-funded employee benefit plans like medical insurance and retirement plans. Second, since the owner and the business are inseparable, whoever sues the business actually sues the owner. The owners personal exposure is unlimited. Finally, the business owner is personally liable for the debts of the company, and unfortunately, personal assets can be taken to pay company obligations. Partnership: A partnership is a group of individuals working together in business with a view to making a profit. It is similar to a sole trader but has two or more owners. Like the sole trader, the partnership is not a separate legal entity from its owners. Unlike the sole trader, however, the partnership can hold property and incur debt in its name. A partnership is easy to establish and involves two or more people running a business together. The partners are the business. Examples of partnerships include group of doctors, dentists, accountants and solicitors. A partnership does not have to be registered any where but it is often advisable for partners to have a partnership agreement drawn up by a solicitor. This will state what capital. Limited Company: A limited company is a separate legal entity, owned by shareholders and run by directors. A limited company is quite different from a sole trader in that it has a legal identity separate from its owner. The owners the shareholders- are not personally liable for the companys debts, but can be made so if they are asked by a lender to provide security. A limited company must be registered at Companies house. An annual return and financial statements must be sent each year to Companys House by company. The rules for running the company must be set out in the Memorandum and Articles of Association, a copy of which must also be sent to Companies House. There is must paper work involved in establishing and running a limited company. Task B Requirements Term Explanation Building and fixtures Long term It can be purchased by mortgage loan. Office Vehicle Mid tern It could be financed by commercial bank or bond. Security System Mid term Leasing and hire purchase should be suitable for it. Payroll Expense (year 1) Mid term Bank loan is a option. Marketing expense Short tern/ midterm Office Stationary Short term From personal savings. Printing and Publications Short term It can be financed by trade credit. Sources of Finance Depending on the date of maturity, sources of finance can be clubbed into the following: Long-term sources of finance: Long-term financing could be raised from the following sources: Share capital or else equity share Preference shares Retained earnings Debentures/Bonds of different types Loans from financial institutions Loan from financial firm Loans from commercial  banks Venture capital funding Asset securitization Medium-term sources of finance: Medium-term financing can be raised from the following sources: Preference shares Debentures/bonds Public deposits/fixed deposits Commercial banks Financial institutions Financial corporations Lease financing / hire purchase  financing External commercial borrowings Foreign currency bonds   Short term sources of finance: Short-term financing can be raised from the following sources: Trade credit Commercial banks Fixed deposits for a period of 1 year or less Advances received from customers Various short-term provisions Task C DEBT EQUITY None Hire-Purchase Mortgage Loan Leasing Bonds and debenture Invoice factoring Share capital Retained earnings Personal savings Cash management Invoice discounting Debt- These are cost where interest forms of payment is paid. Equity- These cost are paid from the part of profit or income. Chapter-2- Assess the implications of different sources of finance. Task D There are a number of ways of buying these things. The business might go to the bank for a loan, arrange some sort of finance deal with the supplier, use cash they have in the business or arrange a lease option. A lease effectively means that the business is paying for the use of a product but do not own it. Also it is called hiring. A lease contract on a van, for example, might mean that the firm pays out  £350 per month for a three year lease. At the end of the three years the vehicle returns to the owner. Lease agreements can be of benefit to the firm for the following reasons: It can be cheaper to organize a lease rather than having to buy apparatus outright Leases can be very flexible equipment might only be needed for a short time or for a particular development and so does not warrant being bought outright. The company that owns the equipment, machines or vehicles is liable for the maintenance and this can help decrease costs for the business. The payments made are usually fixed and will not therefore change as interest rates change. This helps business plan more effectively. (Reference from www.bized.co.uk ) Before taking any lease we should conform how long do we plan to stay? And we must know the rules and regulation of leasing party. And do there demands match with my requirements and ability. Task E Factoring  is a  financial transaction  whereby a business sells its  accounts receivable  to a third party at a  discount  in exchange for immediate money with which to finance continued business. Also it is taken when there is a massive amount of sales is done on credit. It is generally used by businesses to progress cash flow but  can  also be used to shrink administration overheads.  Business that provides this service is called factors or debt factoring companies. Invoice discounting is another way of drawing money against your invoices. However, your business retains control over the administration of your sales ledger. As well as providing finance,  it offers important support services and credit insurance. Factoring provides a fast  forestallment  against your sales ledger. It allows you, at a cost, to flexibly increase your working capital and improve cash flow. Factoring  is offered to businesses trading with other businesses on credit terms.  It is not usually available to retailers or to cash traders. Factors requirements differ, so what follow is an indication and not a firm list. We may find a matter even if the following features not met. Johns business may be suitable for factoring if it has: An annual turnover of at least  £50,000 although some factors will consider start-ups and smaller businesses Business should have more than just a few customers. No single customer accounts for more than about a third of turnover. Customers that allow the standard payment terms for the industry. Customers that agree to a reasonable period of credit. (Reference from www.businesslink.gov.uk ) Task F Trade credit is an arrangement to buy goods or services on account that is without making immediate cash payment. In other words, trade credit is Buy now, pay later. For many businesses, trade credit is a crucial tool for financing growth. Trade credit is the credit extended to you by suppliers who let you buy at this instant and pay later. Any time you take delivery of materials, equipment or other valuables without paying cash on the spot, youre using trade credit. We can acquire materials very fast by trade credit. Most of the time paying duration is very shorter than bank loans. When we are first starting our business, however, suppliers most likely arent going to offer trade credit. They are going to desire to make every order c.o.d. (cash or check on delivery) or paid by credit card in advance until we have established that we can pay our bills on time. While this is a fairly regular practice, we can still try and negotiate trade credit with suppliers. One of the things that will help us in these negotiations is a properly prepared financial plan. So Mr. John Caird could buy security system, stationeries and printings by trade credit. Task G If Mr. John Caird wants to issue share capital or bond/ debenture to increase more fund for his organization he should start limited company. Limited companies are the largest form of business enterprise. Finance is provided by individuals and financial institution- such as pension funds and unit trust managers- buying shares in the company. The way the investment is made will depend on the size of the company. Limited companies, like sole trader and partnerships need finance for long-term purposes. They may also need finance for the acquisition of other companies and business. Also limited company must follow the rules of the Memorandum and Articles of Association. There are the differences of issuing share capital and bond debenture. Issuing Shares Bonds/Debentures Type of Finance Equity Debt Cost High Relatively much lower Risk Low or no risks High Bonds and Debentures are debt instruments. The Company issues the Bond or Debenture as the case may give details of the interest to be paid and the period of the loan, and how the loan will be repaid. When we buy any bond or debenture we become a creditor to the company. Share is equity participation in the Company. When we buy a share, we become a shareholder of the company. The company will pay us dividend on the shares. To issue a share / bond / debenture, the company must be registered and must have the necessary minimum capital. Chapter-3- Select appropriate sources of finance for a business project Task H If John Caird is interested to start sole-proprietorship form of business then he should finance the following requirements:| Building and fixtures: This need long term finance. In my opinion Mr. John can go for leasing buildings and fixtures. Although there are no ownership but he can reduce finance cost. He has limited capital thats why it can be risky to buy buildings and fixtures. And when Johns business will run well he could purchase buildings and fixtures. Office Vehicle: It will better to buy on mid term loan, as means of paying it by instalments. Security system: Mid term finance is suitable for security system, because every year new and better security systems are updating. So John could go for mid term financing like- leasing. Payroll Expense (year 1): it can be financed by short term finance like-loans from commercial bank or personal savings. Marketing expense: It must be go to the short term loan. Because marketing expense vary on situation and factors. Also marketing policy changes dramatically. Office Stationary: John Caird can buy office stationary by hire purchasing. This will be best for him. Printing and Publications: Printing and publication should be financed by short term form. John can use trade credit or advances received from customer. Task I Cairn Energy illustrated that their Property, Plant Equipment- Development/Producing assets has increased from $1,119.6m in 2008 to $1,828.6m in 2009. And theres something in balance sheet called share premium which is 30 times larger than Called up share capital. Called up share capital- Called up share capital is the money required to be paid by the share holders immediately. Share premium- Share premium is the value which is set above the face value (the increased amount). Excess amount received by a firm over the par value of its shares. This amount forms a part of the non-distributable reserves of the firm which usually can be used only for purposes specified under corporate legislation. Task J EPS stands for earnings per share. The portion of a companys profit allocated to each outstanding share of common stock.  Earnings per share  serve as an indicator of  a companysprofitability. Calculated as: When calculating, it is more accurate to use a  weighted average number of shares outstanding over the reporting term, because the  number of shares outstanding can change over time. However, data sources  sometimes simplify the calculation  by using the number of shares outstanding at the end of the period.( http://www.investopedia.com/terms/e/eps.asp) Diluted EPS  expands on basic EPS by including the shares of  convertibles or warrants outstanding in the outstanding shares number.   Dilution: A reduction in earnings per share of common stock that  occurs through the issuance of additional shares or the conversion of convertible securities. Diluted EPS: A  performance metric used to gauge the quality of a companys earnings per share (EPS) if all convertible securities were exercised. Convertible securities refer to all outstanding convertible preferred shares, convertible debentures, stock options (primarily employee based) and warrants. Unless the company has no additional potential shares outstanding (a  relatively rare circumstance) the diluted EPS will always be lower than the simple EPS. ( Reference by Principles of managerial finance, Tenth edition, Lawrence J Gitman.) Conclusion: From three chapters we could know the way how to finance of a company. In my opinion, to established Mr. John Caird Company he should follow this steps. Otherwise the unnecessary steps can increase and he may fall in nuisance.

The Controversy Surrounding Multiple Personality Disorder Essay

The Controversy Surrounding Multiple Personality Disorder Multiple Personality Disorder is a condition that many people probably have not heard of. Among those who have heard of it, there are even less who actually know what it is. However, according to Piper (1997) there were about 6,000 cases diagnosed in North America alone in 1986. Some experts estimate that multiple personality disorder, or MPD, affects 5 to 10 percent of the population, or about 100 million people worldwide. For such a widespread disorder, the public's lack of knowledge about it is pretty shocking. One explanation for this lack of knowledge could be the fact that many people, fueled by the beliefs of many noted psychologists, do not believe the disorder even exists. Why do they believe this? To answer this question, one must first understand a little more about MPD itself. Although there is no clear, universally accepted definition of multiple personality disorder, one interpretation that most seem to agree on was stated by Piper: "Multiple personality disorder (MPD) is characterized by the presence of 'alter personalities' that periodically and unpredictably take control of the patient's body" (pg. xii). All who have been diagnosed with MPD have shown evidence of one or more alter personalities aside from the host personality. The 'host' is usually described as the personality that is in control the largest amount of time, or the personality that presents itself for treatment. This may sound confusing, but it is nothing compared to the many other aspects of MPD, such as what a personality is, what causes the onset of MPD, whether or not someone really has MPD, and what treatment methods are effective-all of which will be discussed. In ... ...tml False Memory Syndrome Foundation Compilation: Dr. Bennett Braun. (1995, September 1). Retrieved March 11, 2004 from http://www.fmsfonline.org/braun.html Hendrickson, G (2001, July 3). psychotherapy. Retrieved March 26, 2004 from http://health.discovery.com/diseasesandcond/encyclopedia/3092.html McHugh, P. Multiple Personality Disorder (Dissociative Identity Disorder). Retrieved March 11, 2004 from http://www.psycom.net/mchugh.html Piper, A. (1997). Hoax and Reality: The Bizarre World of Multiple Personality Disorder. Northvale, NJ: J. Aronson Reyes, A. (2001, July 2). multiple personality disorder. Retrieved March 10, 2004 from http://health.discovery.com/diseasesandcond/encyclopedia/2909.html Richmond, R. Multiple Personality Disorder/Dissociative Identity Disorder. (2003). Retrieved March 12, 2004 from http://www.guidetopsychology.com/mpd.htm

How Stevenson Creates a Sense of Intrigue and Engages the Reader’s Interest in Dr Jekyll and Mr Hyde Essay

In this essay I am going to be exploring how Stevenson examines Victorian hypocrisy and human nature, the duality of man, in his famous tale, The Strange Case of Dr Jekyll and Mr Hyde. His novella, written in 1886, was set in London, and is described as a gothic horror. Stevenson uses Mr Utterson, a ‘modest’ lawyer, to guide us through the novella, unravelling to the mystery gradually throughout the novella. By revealing a few clues at a time, many questions emerge in the reader’s mind, however, only a few of these are answered throughout the tale. Stevenson uses a wide range of language and structural devices to build a sense of intrigue and engage the reader. Dr Jekyll, a renowned London scientist, was born into a wealthy family with great honour and had gained respect from his fellow men. Dr Jekyll struggled with the dual nature of his nature and although he was loyal to his friends, Jekyll had a dark side, which he choice to express in the person of Mr Hyde. He noticed that ‘man is not truly one, but truly two’ and this lead him to ‘recognise the thorough and primitive duality of man’. Jekyll saw the need to hide Hyde from the world since he was forced to be respectable and loyal to everyone around him due to his class since birth. However, Dr Jekyll had suppressed his ‘pleasures’ for too long and his darker side grew stronger and stronger inside him throughout his life. Many of the ‘pleasures’ Hyde was able to have included drinking alcohol, and gambling as well as being able to fulfill many of his sexual desires. I believe that Jekyll was guilty of ‘that crime upon so pitiful as provocation’, which he committed through Hyde, because he had a choice to drink the potion again and carrying on with his devilish deeds or suppress his darker side from committing such devious crimes. Jekyll, himself, couldn’t resist and was too ‘tempted’ to drink more of the potion again ‘with strong courage’, eve though he was aware of the consequences he will have to face. Stevenson engages the readers by using many negative adjectives to describe Hyde, which suggest he is a villain. When Utterson questions the maid the morning after the politician, Mr Carew, was murdered, she explains to Utterson that ‘all of a sudden’ Hyde ‘broke out in a flame of anger, stamping his foot, brandishing his cane and carrying on like a madman’. This is shocking to the reader because a man who owned a cane in Victorian society was known to be a respectable gentleman. Hyde is also described, by the maid, to have had ‘ape-like fury’. Being compared to an ‘ape’ was said to someone who is a person who resembles a nonhuman primate1 and has so much rage to the point of committing the most unspeakable horror against innocence. Utterson is biased when guiding the reader through the novella. In the first chapter, Story of the Door, Utterson tells us that he is a ‘modest man’ and that his friends are ‘those of his own blood’. The reader is influenced to think that Jekyll, having been stated as a ‘good friend’, belongs to the same middle-class society as Mr Utterson does. So when Jekyll commits his ‘devilish’ deeds, the reader is shocked because men of the middle-class societies are known to be humble and loyal, not ‘evil’. Stevenson creates intrigue for the reader by using long, lengthy descriptions in the narration in order to draw out the highly gruesome aspects of the scene set in The Carew Murder Case. Around the scene of the incident, there was a ‘misty fog’ and clouds ‘over the city’ while the ‘full moon’ lit up the night. The ‘full moon’ associates with the time when evil beings, often shown as deformed men or werewolves, commit their most heinous acts. The ‘fog’ suggests intrigue and mystery. Stevenson uses highly descriptive language during the attack. The maid explains to Utterson how Mr Carew, the kindly gentleman, was ‘trampled under foot’ and his ‘bones were audibly shattered’ by the ‘ape-like’ Hyde. Stevenson starts off The Carew Murder Case by describing a quiet scene however this contrasts against the abominable attack, which is described in many gory details. Hyde was described as a ‘small’ person compared to his ‘good’ side, Dr Jekyll, which may be because Stevenson intended to emphasis on how low Hyde had gone by committing heinous crimes. Using lengthy descriptions, Stevenson sets the scene to create an atmosphere and engage the reader. Stevenson sets his novella in 18- and mentions ‘bad’ deeds and secrecy throughout the parable. This may be because Stevenson saw that although most noblemen seem to be modest and loyal from the outside, inside they hid dark secrets. In chapter 7, The Last Night, Jekyll transforms uncontrollably into Mr Hyde and by describing the unsettling weather, Stevenson shows this as a bad omen. Stevenson shows that the evil was angering the wind outside by describing the wind, ‘which only broke in puffs and draughts into that deep well of building, tossed the light of the candle to and fro.’ Most crimes that Hyde commits are usually during the night as this is the time when evil is lurking around the most. Stevenson also mentions that ‘all human beings†¦are commingled out of good and evil’ by using Dr Jekyll’s statement. Stevenson shows us that appearances of middle-class noblemen can never be fully trusted and also ventures to tell us how important reputation was in the nineteenth century. Jekyll had repressed his darker, evil side inside of him for far too long and was unaware that it was growing inside of him day-by-day. Jekyll was forced into being a middle-class nobleman since birth because he was brought up in one such modest family. A similar thought may have emerged in the reader’s in about Jack the Ripper who had been suggested to be living a double life and may have been a respectable man in his society with an uncontrollable dark side. Stevenson shows that the evil in Hyde is very deadly by describing the scene where he tramples on the innocent, little girl on the street corner and also when describing the scene where Hyde slays Mr Carew brutally. Hyde also causes death indirectly when Dr Lanyon dies after witnessing the transformation of Dr Jekyll into Mr Hyde. Dr Lanyon may have r ealised that he too had an evil side himself. The nineteenth century was often with Mary Shelley’s concept of a man’s double self. Frankenstein had created his monster in 1818 and many associate the name Frankenstein with monsters and devils nowadays rather than names of scientists. Frankenstein’s monster had destroyed him in a similar way Hyde had brought ‘the life of that unhappy Henry Jekyll to an end’. Dr Jekyll and Dr Frankenstein both wanted to become renowned scientists with their own creations and therefore, Dr Frankenstein had created a monster by ignoring the rules of nature and using body parts of dead human beings, whilst Dr Jekyll had created a potion, which would unleash his evil side, Mr Hyde. Frankenstein’s monster had had achieved domination over Frankenstein and soon was able to kill him completely. In a similar way, Hyde had overpowered Jekyll and soon murdered him too. Also, a man called Faust had sold his soul to the devil in exchange for absolute power and knowledge whilst he was still alive. Ina similar way, Jekyll created Hyde, as one of his marvellous creations, however, instead of being proud of his creation, Jekyll’s ‘terror of gallows drove him continually to commit temporary suicide’. After reading The Strange Case of Dr Jekyll and Mr Hyde, when it was first published, readers would have realised that man has both, an evil and a good side to him. At the time the book was published, society was very strict, it didn’t question religion and there was a great divide between poverty and wealth. This made the readers of the time engaged and intrigued. The Victorian Society was very religious at the time and believed that if you sinned then you will be banished to hell for eternity. The story was enormously popular with it Victorian audience, showing a fascination with the ‘other side’ of life. Many of the characters in the novella have professions that were seen to be significant and dominating by society, such as a Doctor and a Politician. The readers may be influenced into thinking that the upper classes were more likely to have a dual personality compared to someone of a lower class. He might also have been moralising here, exposing Victorian hypo crisy for what it was.

Women Should Not Wear Dress - 1221 Words

individuals located in Texas as compared to individuals located in New York. Same goes for the industry that people are working in. Appearance goes along with first impressions. Dress should be in business attire or business casual with an emphasis on being conservative (India, 2015). Women should avoid wearing attire that is too revealing. Next comes the greeting. In the United States, it is customary to shake hands. Shaking hands is also a regular greeting in India (India, 2015). Men can shake hands with men and women with women. It is not often for men to shake hands with women because of religious reasons (India, 2015). A good approach if it is unknown if it’s okay to shake hands with the opposite gender is to wait for the†¦show more content†¦It is vital to communicate effectively. Avoid using words that hold multiple meanings. For example, the words date and foot both have multiple meanings. Indians prefer to do business with those they know. Respe ct and trust are vital to building a relationship. Generally speaking, it is preferred to already have a personal relationship before doing business. It is suggested to be introduced by a third party for instant credibility (India, 2015). Indians do not like conflict or confrontation. Saying â€Å"No† directly is considered rude, and it is rare to show disagreement (India, 2015). Look for indirect cues of disagreement. Vague responses can indicate a â€Å"No† as well. Be sure not to directly refuse, disagree, or say no. In negotiations, being overly aggressive or expressing feelings of anger will diminish trust and respect (India, 2015). The process for making decisions can be slow, and the most senior ranking person often makes the decision (India, 2015). It is common to celebrate with a meal. It is good to remember that â€Å"Hindus do not eat beef and many are vegetarians, Muslims do not eat pork or drink alcohol, and Sikhs do not eat beef† (India, 2015). Finally, managers are expected to be knowledgeable in the field. The expectation is for managers to provide guidance and answers, unlike in the U.S., where successful managers do not need to be subject matter experts on their team. Behavior in the work place is greatly influenced by the culture and