The Gallant Boys Of Gettysburg Essay Research free essay sample

The Gallant Boys Of Gettysburg Essay, Research Paper The narrative I read took topographic point largely at the Battle of Gettysburg. Tom and Jeff Majors had merely enrolled in the Confederate ground forces. Tom enrolled as a private and Jeff as a drummer male child. Their pa, Nelson Majors, who had been in the ground forces for rather some clip, had merely been promoted to Major. Tom and Jeff were appointed to their male parent # 8217 ; s unit. They fought in the Battle of Gettysburg which was the worst conflict of the Civil War. The decease sum for the conflict was great. The Union and the Confederates lost a sum of 18,000 work forces each. During the worst portion of the conflict, a shell hit Tom # 8217 ; s leg. Jeff instantly carried him to the field physician. The physician told Tom that his leg would hold to be cut off. The Confederate ground forces was being beaten back by the Union and they had to withdraw. We will write a custom essay sample on The Gallant Boys Of Gettysburg Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page That meant that Tom was put on a waggon and carried off. Tom knew there was small opportunity of him lasting the drive. Jeff had an thought to take Tom to the Poteets # 8217 ; house. They had eaten with them before the conflict. The Poteets lief agreed to maintain Tom for a short piece at their house. Jeff and Nelson Majors were really happy that Tom could remain with them. When Tom # 8217 ; s leg was healed, he and Jeff went back to Kentucky where their household was from. When they got place at that place was a large welcome dinner. A missive came a few yearss subsequently stating Jeff that he would demand to travel back to the ground forces. When Jeff got back, he and his pa talked about how Tom was making and the remainder of the household. After that, the narrative terminals merely as they were approximately to travel fight another conflict. The predominate struggle in The Gallant Boys of Gettysburg occurred when Tom was hit by a shell from the Union ground forces. Jeff turned and saw Tom turn overing and turn overing on the land. When Jeff got at that place, he saw that it had struck Tom # 8217 ; s leg. He rapidly tied a patch on it to halt the hemorrhage. Jeff told Tom that he would hold to immediately see a field physician. The physician told Tom that his leg would hold to be taken off. When Jeff and Tom arrived at their place in Kentucky, Sarah, Tom # 8217 ; s girlfriend, saw what had happened to his leg. Tom thought that Sarah would non wish him because he had lost his leg. Sarah tried to state him that it did non affair that he had lost his leg, but Tom did non listen. Sarah asked Mr. Springer, who had late lost his leg, to semen and talk to Tom. Mr. Springer told Tom that he should acquire an unreal leg. Mr. Springer said that he felt every bit good as new with his unreal leg. The narrative ends shortly after they finished speaking. I concluded that Tom would finally acquire an unreal leg.

Relationship between Substance Abuse and Personality

Relationship between Substance Abuse and Personality Annotated bibliography Mercer, Deanna, Douglass, Alan B., Links, Paul S. (2009). Meta-Analyses of Mood Stabilizers, Antidepressants and Antipsychotics in the Treatment of Borderline Personality Disorder: Effectiveness for Depression and Anger Symptoms. Journal of Personality Disorders, 23(2), 156-174.Advertising We will write a custom annotated bibliography sample on Relationship between Substance Abuse and Personality specifically for you for only $16.05 $11/page Learn More The research implemented by Mercer et al. (2009) aimed at defining whether mood stabilizers, antidepressants and antipsychotics are effective for treating anger and depression in patients with borderline personality disorder. The present study was based on the surveys which present validated data. Mercer et al. (2009) reported that mood stabilizers (except divalproic acid and carbamazepine) had quite considerable impact on anger reduction. Antidepressants had smaller, quite sparing, effe ct on both anger and depression reduction whereas antipsychotics had a moderate impact on anger reduction, and did not affected depression. However, Mercer et al (2009) pointed out that their survey did not cover the data of the impact of such substances on patients with alcohol or substance abuse and self-harm behavior. Aharonovich, Efrat, Nguyen, Hueco T., Nunes, Edward V. (2001). Anger and Depressive States among Treatment-Seeking Drug Abusers: Testing the Psychopharmacological Specificity Hypothesis. The American Journal on Addictions, 10(4), 327-334. Aharonovich et al. (2001) researched whether specific type of drugs caused specific disorders in patients with these substances abuse. The researches assumed that due to their different pharmacological properties such drugs as opiates, cocaine, cannabis can produce different effects on abusers’ behavior. The changes in behavior of sixty participants (50 men and 10 women) were studied. Aharonovich et al. (2001) found that the patients’ behavior can be characterized by increased anger and depression. However, the researchers did not reported about the correlation between the type of drugs and precise change in behavior. Though, the survey scored some elevated depression in opiate abusers and elevated anger in cocaine addicts, these data are insignificant to define the correlation between drugs and behavior deviation. Fox, Helen C., Hong, Kwang-lk A., Siedlarz, Kristen, Sinha, Rajita. (2008). Enhanced Sensitivity to Stress and Drug/Alcohol Craving in Abstinent Cocaine-Dependent Individuals Compared to Social Drinkers. Neuropsychopharmacology, 33(4), 796-805.Advertising Looking for annotated bibliography on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fox et al. (2008) surveyed whether there were changes in stress response and craving in patients with substance abuse and patients with alcohol abuse. The behavior of forty people of the former group and forty people of the latter were examined. The participants’ respond to the imaginary stressful and more relaxing situations was observed. The researchers reported that drug abusers are more vulnerable to stress and craving than alcohol abusers. The alcohol addicts revealed considerably moderate response to stress. Thus, the survey suggested that drug addicts’ recovery could be hindered by their increased sensitivity to stress and craving. Mulvey, Edward P., Odgers, Candice, Skeem, Jennifer, Gardner, William, Schubert, Carol, Lidz, Charles. Substance Use and Community Violence:Â  A Test of the Relation at the Daily Level. Journal of Consulting and Clinical Psychology, 74(4), 743-754. Mulvey et al. (2006) researched the correlation between the substance (alcohol, cocaine, marijuana, etc.) abuse and violence in patience. The researchers concluded that the use of such substances leads to the increased likelihood of violence. The survey justified that the patients with mental disorders (at a high risk of violent behavior) who took substances like alcohol or drugs revealed increased amount of violent in the following days. The researchers also consider the implications of the use of such substances. Bond, Alyson J., Verheyden, Suzanne L., Wingrove, Janet, Curran, H. Valerie. (2004). Angry Cognitive Bias, Trait Aggression and Impulsivity in Substance Users. Psychopharmacology, 171(3), 331-339. Bond et al (2004) surveyed the correlation between substance abuse (and abuse for methylenedioxymethamphetamine (MDMA), in particular) and aggressive behavior. The participants of the research were addicts who took the drugs recently, abusers who did not take drugs for a year, and non-abusers. The participants had to process biased short stories with a key sentence revealing aggression or anger. The researchers concluded that people who took drugs were faster to process aggression biased passages which revealed that they were characterized by an gry cognitive bias. Besides, the researchers did not obtain the evidence of particular impact of MDMA. Thus, the Bond et al. (2004) concluded that drug abusers reveal the presence of angry cognitive biased. Relationship between substance abuse and personality The latest findings on the problem The implication of substance abuse is being extensively surveyed nowadays. Researchers report about the changes of behavior and even personality in substance abusers. Such addicts are characterized by more aggressive behavior and more sensitivity to depression and stress.Advertising We will write a custom annotated bibliography sample on Relationship between Substance Abuse and Personality specifically for you for only $16.05 $11/page Learn More Various surveys suggest that drug addicts start playing more active role in the social life, they become distant and even indifferent to the world around them. The main concern of such people is their craving to drugs or alcoh ol. It is necessary to point out that drug abusers are more stressful and aggressive than alcohol addicts. Moreover, drug abusers’ recovery is much more hampered by such behavior changes as aggression, depression, anger and hyper-sensitivity to stress. Difference substances cause the same effect It is necessary to add that there can be no such notion as safer drugs or less harmful alcohol abuse. Different pharmacological peculiarities of such substances as cocaine, amphetamine, marijuana, etc. lead to the same consequences: the change of personality. Of course, apart from psychological deviations any drug abuse can lead to numerous health problems. Any substance abuse affects such important systems as endocrine vascular. The risk group adolescent drug abusers It is essential to point out that substance abuse in adolescents is even more dangerous since the organism is still growing and is more subjected to various factors. There can be no surprise that adolescent drug abusers are more subjected to the changes in behavior. Aggression, violence or depression can affect greatly the development of personality. Thus, the use of drugs is unacceptable for people of all ages, but especially for adolescents. Conclusion In conclusion, it is possible to note that drug abuse causes severe changes in behavior (or even change of personality), and various serious health problems, irrespective of drugs pharmacological peculiarities. It is also necessary to point out that the drug abuse in young people leads to more serious mental and other health problems. Reference Aharonovich, Efrat, Nguyen, Hueco T., Nunes, Edward V. (2001). Anger and Depressive States among Treatment-Seeking Drug Abusers: Testing the Psychopharmacological Specificity Hypothesis. The American Journal on Addictions, 10(4), 327-334. Bond, Alyson J., Verheyden, Suzanne L., Wingrove, Janet, Curran, H. Valerie. (2004). Angry Cognitive Bias, Trait Aggression and Impulsivity in Substance Users. Psychopharm acology, 171(3), 331-339.Advertising Looking for annotated bibliography on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fox, Helen C., Hong, Kwang-lk A., Siedlarz, Kristen, Sinha, Rajita. (2008). Enhanced Sensitivity to Stress and Drug/Alcohol Craving in Abstinent Cocaine-Dependent Individuals Compared to Social Drinkers. Neuropsychopharmacology, 33(4), 796-805. Mercer, Deanna, Douglass, Alan B., Links, Paul S.. (2009). Meta-Analyses of Mood Stabilizers, Antidepressants and Antipsychotics in the Treatment of Borderline Personality Disorder: Effectiveness for Depression and Anger Symptoms. Journal of Personality Disorders, 23(2), 156-174. Mulvey, Edward P., Odgers, Candice, Skeem, Jennifer, Gardner, William, Schubert, Carol, Lidz, Charles. Substance Use and Community Violence:Â  A Test of the Relation at the Daily Level. Journal of Consulting and Clinical Psychology, 74(4), 743-754.

Racism in the United States Essay Example | Topics and Well Written Essays - 500 words

Racism in the United States - Essay Example My knowledge regarding the role of the principle of â€Å"all men are created equal† has developed to a level that I now understand Slavery was just a major economic driving force, as opposed to a basis for identifying what was morally wrong in the American colonies. It is not slavery, but the issue of race that helped solve the moral contradiction characterized by American colonies at the time. To illustrate this, it is the race that explained the reason some group of people was denied their rights, whilst others enjoyed theirs and took them for granted. I have learned that there was a similarity in the Thomas Jefferson’s policy of encouraging the assimilation of American Indians with President Andrew Jackson’s removal policy. The similarity is that both leaders sought out for the interests of the white American in the policies they advocated. It dawns on me that the policy supported the propagation of the so-called â€Å"Civilized† ways- Agriculture. I c onclude, could that the policies of both leaders were aimed at imposing the American culture on the Native Americans at any cost.  I find Thomas Jefferson different from Andrew Jackson in terms of the approach he took while in the process of furthering the interest of white Americans. To demonstrate this, Jefferson advocated the assimilation of Cherokees to the ways of Americans while Jackson displayed apathy by enforcing the removal of Cherokees. Finally, I feel that there is no gap in my knowledge regarding race because I have learned a lot.

Case study Essay Example | Topics and Well Written Essays - 1000 words - 2

Case study - Essay Example The criteria can enable an organization to effectively align assets with quality strategies such as ISO 9001 and Six Sigma, and improve performance throughout the organization in a general way. Baldrige also helps to recognize and monitor vital organizational outcomes such as customer responses, product and service delivery, financial assets, human resource, and the general effectiveness of an organization in the market. Every organization will need an-encompassing strategy, especially if the executives are looking for a measure that can be used to connect the product brand with the organizational culture and internal practices (Poister, 2003). Key internal functions, which should be linked with the commodities, include strategic planning and the satisfaction of various stakeholders, e.g. customers, and employees as well as suppliers. In a nutshell, Baldrige measures and advances leadership, strategic planning, information analysis, consumer and market focus, evaluation of human reso urces, process management, and business results (Ferguson, 2008). Six Sigma According to Poister (2003), Six Sigma entails statistically-centered processes, which improves organizational performance for continuing process development. By implementing Six Sigma, an organization can reduce defects substantially. This is usually done by spotting and removing the triggers of variation in organizational processes. In identifying defects, the criteria focus on creating precise descriptions of customer needs and expectations and are therefore consumer-oriented. The main pillars of Six Sigma include continuous analysis of the consumer’s needs; vigorous employment of facts in the identification and measurement of variation in all business processes such as production; and recognition of the actual origin of defects or variation for their elimination. Ferguson (2008) avers that through Six Sigma, an organization would seek to put in place a pro-active executive team focusing on the pre vention of problem; enhance the setting up of unrelenting improvement measures and constant aiming for perfection through effective collaboration between different units within the organization (Poister, 2003). Six Sigma is premised upon multiple and successful approaches to quality improvement measures and encompasses unique strategies of its own. When compared to other quality control and improvement criteria such as Baldrige, Six Sigma is seen as a better methodology for recognizing the causes of particular quality defects and eliminating those problems. Notably, Six Sigma can be employed as an adjunct measure to other options in order to improve quality improvement systems. ISO 9001 Poister (2003) indicates that ISO 9001 is a methodology for managing quality standards within an organization. A Quality Management System, which ISO 9001 is known to measure, is a system of elaborately defined business structures, functions, duties, and assets used to support and develop on given qu ality thresholds. The criteria can be employed in the measurement of the general quality of an organization’s management programs and practices. An ISO 9001 certification ought to assure customers of an organization that the quality thresholds have been met by implementing standard policies with the aim of producing competitive products and services. Through ISO 9001, documenting the details of an organization’s processes can be achieved. This documentation is very important when it comes to

Electronic frontier Assignment Example | Topics and Well Written Essays - 250 words

Electronic frontier - Assignment Example The giants who own the market in the digital world try to kill any competition that they get but this can no longer be done as I can simply challenge any of the plea with the use of the EFF. With the help of the organization I can make sure that my circle of privacy is not violated by the state authorities. I can make a fine line when I want to be anonymous on the internet and express my views accordingly. With the help of EFF I believe that I can challenge anyone who finds my anonymity illegal or tries to find my identity and threaten me in any case. If I find out that anyone is trespassing the line of my privacy I can always approach the organization and inform my government regarding the necessary issues so as to avoid any legal repercussions. I believe that I can protect my privacy to the fullest of extent if given the knowledge provided by the organization. The newest technology allows one to detect when anyone is trying malinger against you or is trying to impose something that I may not have even done. My information and logs should not be accessed by any given company unless they have issues of national security against

Impact Of The Holocaust On Christian Jew Relations Religion Essay

Impact Of The Holocaust On Christian Jew Relations Religion Essay This essay will focus on several aspects. The first will consider the climate that lead to the war in the early years. It will go on to briefly discuss what occurred during the Holocaust, and majority of it will focus on how the Jews and Christians were affected between 1945 till the present day. In order for us to understand the relationship between Christian and Jews both during and post the holocaust, it is important to understand their relationship prior to the war. It is only then we can establish whether a change took place before or after. The holocaust affected Jews all across Europe, particularly in Germany, controlled by the Nazi government, and Poland, which was conquered by Germany in 1939. Poland was quite significant because it became one of the territories where the murder of Jews from all over Europe was carried out. The Nazi regime was founded by Hitler. He believed that the Jews were an inferior race and were the main cause of the all the problems that has been occurring in Germany and Europe, particularly in the financial state of affairs. His ultimate plan was to remove the Jews from Europe by exterminating them. He did this by finding out who the Jews were and where they lived, and then transporting them like cattle into ghettoes and concentration camps such as Auschwitz. This is what is officially known as the Holocaust. The foundations of prejudice against Jews can be traced as far back to the Crusades. During the Crusades Jews were massacred when Christian armies had captured Jerusalem, and here the first link between Christian and Jews is evident. As early as 1290, Jews had been forced to leave England but then during the reign of Cromwell there were a few that had moved into London. As a result of this in 1655 Jews had started to establish their own communities (Religion in History, pp226, K. H Holtschneider). Looking deeper into the history of Jews and Christians, there were clear problems as stated in Bubers journal Der Jude which included articles by Jews on Christianity and Christians on Judaism. It was attempted to bring both faiths together but instead it lead to Christians refusing to recognize Judaism as a faith that could live along side Christianity (Mendes Flohr, 1987, pg226 in Religion in History). Moving on from that time, it was in England during the 1650s that there was another at tempt to reconcile with Jews and this was needed because their conversion to Christianity was believed to be necessary prelude to Christs second coming. More significantly, this was a view that was beginning to be shared amongst other European countries from 1570 onwards and they started to consider whether or not they wanted to admit Jews. This persecution was still evident prior the Second World War in 1920 when Jewish immigrants in the USA became victims of the Klu Klux Klan, a racist organization that wanted to keep American society white and Christian protestant. (Susan Willoughby pg 6). In Europe, although originally Christian and Jewish relations struggled prior to the Second World War as they attempted to discover the truth in Christianity. However, this particular aspect of the troubled relationship between the two groups was not at the forefront of issues facing the relationship due to the humanitarian crisis that was being faced. (Religion in History, pg 226, Holtschneide r). During the war, the situation became very difficult for people living in Germany. With most of German society being against the Jewish people they also began to face the situation of having to avoid marrying Jews or to separate from their Jewish partners despite having been in long term marriages. Sources tell us that majority of Christians who were married to Jews stuck by their spouses even before they knew that they could save them through loyal acts (Holtschneider, Religion in History in pg 238, Barkai, 1998, pg 253). It is important to note that Jews were not the only victims of Hitlers Nazi Regime, with other victims including minority groups such as gypsies, homosexuals and those with mental or physical impairments. Regardless, this whole campaign of persecution and genocide was very significant in terms of its focus, scale and intensity. This is central to the relationship between Jews and Christians as it raises issues about the attitudes of the Christian because they were there to witness the Anti Semitic Jewish measures in the 1930s and the deportations that were carried out in front of them. However, it is also argued that anyone in Germany who assisted Jews faced danger and this stopped any attempts to help. (Study Guide 5, pg 13) This attitude even went as a far as the, separation of the Protestant churches into Christians of German descent and Christians of Jewish decent. Even though some Protestants did attempt to talk through religious issues with Jews this was started more often by J ews than by Christians. At the end of the war and after the holocaust the options open to Jews as to where they should begin to rebuild their lives depended largely on their national identity before the war. Most Italians and French went back to Italy and France as they recognized their identity as linked with their country of origin. However, many Jews from Eastern Europe and Germany opted for emigration because they felt that their relationship with their homeland had been damaged (Herbert, Religion in History Pg.241). Many Jews went to the United States as refugees, but majority of Jewish displaced persons decided they would return to Israel and United States however the USA still had very strict rules about immigration as well as the United Kingdom. The United Kingdom was in fear of provoking the Arab people in Israel into fighting back. It was during this time that the newly independent State of Israel was formed and there were lots of preparations to nationally commemorate the holocaust. Furthermore d uring the war many countries had closed their borders to immigration. However, in spite of all these obstacles Jews were very keen to leave Europe as soon as possible. It has been stated by Don Peretz, (Study Guide, pg 86) that on 29th November 1947, the General Assembly of the United Nations adopted a resolution requiring the establishment of a Jewish State in Palestine. This recognition by the United Nations of the right of the Jewish people to establish their independence state is unassailable. Yad Vashem is a museum which tells the story of the Holocaust that emphasizes practicing Zionism. This underlines the absolute need for a Jewish homeland in Palestine. Despite this strong feeling the Jewish Christian relationship has not completely fallen apart and finds a place in with Righteous Gentiles whom of many are Christian. This is extremely important when examining the post war relations, because amongst all the fighting and violence between Jews and Christians during the war here is a ground to rebuild the relationship between them. Creating the state of Israel in 1948 also had other effects on the Christian churches of the time. As Paul Van Buren states, the shock of the horror at the Germans misdeeds against the Jewish people and the even greater theological shock of the existence of a Jewish state led to the first striking change in attitudes between Christians and Jews(Study Guide pg 67). In order to trace these developments it is important to look at the reaction of the Protestant churches in Germany. Their church leaders were the first to admit that and condemn the Nazi horror that had taken place in Europe. It was in October 1945 that their churches released an official Stuttgart declaration of guilt, which stated how sorry they were that they did not stand up to the Nazi regime more forcefully. It took a long time for the church to accept this and this was largely due to the fact that the sufferings of the Jews were blamed on secular forces within Europe. This misplaced the blame, looked upon the Nazi re gime as a, sinister impact of global anti-Semitism were all seen as a result of modern secular man. (Study Guide, pg 67, John S Conway). On the other hand the Catholic Church was deeply implicated in the anti-Semitic violence against the Jews. The representative Jews did nothing to stop the political propaganda, and furthermore they even went as a far as supporting the politicians and the campaign (Mendelsohn, 1983, Religion in History, 228, K. Hannah Holtschneider,). To look into this further Ronald Modras carried out a survey of Catholic attitudes towards Jews and their religion in the 1920s and 1930s prior to the War. What he found was that there was an increase in anti-Semitic attitudes in the Catholic community. This was because in Germany the Jews were seen as representatives of secularism and therefore definitely anti catholic, and this was the start of when racial ideas began to infiltrate catholic communities, particularly in regards to allowing Jewish converts to Catholicism. Other Catholics also considered emigration, and this happened through boycotting Jewish business which would reduce Jewish income alon gside supporting Zionism. (Religion in History, pg 229, K. Hannah Holtschneider). The Jewish communities had been destroyed by the Holocaust. The last Vatican II since 1960 have bought Jews together. As mentioned in Religion in History, pg 243, K. Hannah Holtschneider) These conversations are mainly Christians initiatives-a reversal of the prewar Christian-Jewish dialogues in Germany. The outcome of the Holocaust has moved to the western world especially in the U.K and U.S. Europe had millions of homeless refugees after the war. Many Holocaust survivors were German DPs (displaced persons) who were not German or Jewish, some survivors returned to Poland, the majority decided to emigrate to the U.S or Israel. (Religion in History, pg 243, K. Hannah Holtschneider). Furthermore the Vatican authorities were not ready to admit the failures of the Catholic Church in the Holocaust. On the territory of Auschwitz concentration camp, where numerous polish Catholics were executed, sparked a controversy in 1984. Auschwitz had become a symbol of terror, genocide and the Holocaust. The direct reason for the establishment of the camp was the fact that mass arrests of Poles were increasing beyond the capacity of existing local prisons. Initially, Auschwitz was to be one more concentration camp of the type that the Nazis had been setting up since the early 1930sWhether sites of Jewish and non-Jewish suffering in particular in Poland-such as different parts of the Auschwitz concentration camp- can be shared by Christians and Jews in commemoration, remains controversial (Religion in History Pg 244, K. Hannah Holtschneider). This shows that Auschwitz has become a site for remembrance and therefore reconciliation point for Christian and Jews after the Holocaust. There was also heated discussion over the Nostra Aetate because the church reaffirmed the deep spiritual bond between Christian and Jews within Gods loving plan for the redemption of the world Study guide pg71. This document clearly condemns any type anti-Semitism against Jews, particularly Christian anti-Judaism, for example the band deicide which had contributed to popular propaganda against the Jews. Therefore in light of other research it is stressed that Christian are indebt to Jews and now it is even more important to understand the relationship of the two faith as a positive and reciprocal one, touching upon the same spiritual realities and most often serving to illuminate each other study guide pg 72. The Eichmann trial provoked international interest, bringing Nazi violence to the forefront of world news. Testimonies of Holocaust survivors, especially those of ghetto fighters, generated interest in Jewish resistance. The trial prompted a new openness in Israel, many Holocaust survivors felt able to share their experiences as the country challenged this trauma. Following this Arbeitsgemeinschaft of the biennial German Protestant Church Rally received widespread support and demonstrated a growing in interest in Christian-Jewish relations (Study Guide pg 68). This had then led to Rhineland Synod which was a statement that was recognized by other Protestant communities. In this they talked about the Holocaust as a key factor that helped start a new relationship between the church and the Jewish people. As stated in the study guide pg 68 Four factors, the authors claimed, had bought the church to this realization: the recognition of Christian co-responsibility and guilt for the Holoca ust ; the new Biblical insights learned during the Church struggle about the continuing significance of the Jewish people within the history of God; the acknowledgement that the continuing existence of the Jewish people, its return to the land of Promise, and the foundation of the state of Israel are signs of the faithfulness of God toward his people ; and the willingness of Jews, in spite of the Holocaust , to engage in encounter, common study and cooperation As mentioned in Chapter 8 religion in History that after the holocaust there were many post war developments in the Christian Jewish relationship, and thus many conversations took place that have shaped the attitudes that religious Jews and Christians have taken towards the Holocaust and the relations prior to Hitlers rule. This has come about through Christian remorse for a longstanding anti Semitism that has been allowed to prevail. This is significant because Christian anti Semitism was seen as the ground work of racist anti Semitism, which gained strength post 1870. The conversations that took place between Jews and Christians largely adopted a stance that looked at their relationship from an anti Semitic perspective, leading to all the research and theory into the histories of Christian and Jewish relations ending in the Holocaust. There have been other perspectives of looking at Jewish and Christian relations before and after the Holocaust. Needless to say these have had an im pact on how to conceptualize the relationship after the war. After the war in 1947 on the 29th of November, the United Nations adopted a resolution which stated that there was a need to establish a Jewish state. (Study Guide, pg 87). This was because many Jewish people who had survived the war felt as though it was in their right to have a Jewish homeland. In fact, Zionists made a flag for the State of Israel which they were pressurizing the Allies to set up in Palestine. (Jane Shuter, pg. 31). Since then there has been lots of persecution in Europe, including the growing development of European nationalism. However, some non religious Jews took advantage of this and saw this as an opportunity to become active in promoting a land for the Jews. Having said that, there are some Evangelical Christian, as well as some fundamentalist Protestants, who are strongly pro Zionist because they view the returning of the Jews to Palestine as a sign of the second-coming of the Christ. However since the Intifada, there has been lots of sympathy from mainstre am western Christians towards Palestinians. Although, eastern Christianity has not been affected so much by the Holocaust there is hardly any sympathy for Zionism. (Religion in History pg 261, J Wolffe). It has been widely acknowledged that Christians have held Jews responsible for the death of Jesus. It is because of this and also centuries of anti Semitism that Hitlers views and hatred was passionately echoed in the Third Reich. However, this inheritance of faith should in fact motivate Christians and Jews not to leave their faith despite the atrocities that took place during the holocaust. Those who survived still have that faith. This is an important point and influences post holocaust movements as the establishment of the state of Israel was seen as a part of a determination to keep the faith and survive. Ultimately, this was an attempt to make the world a place where Jews can still honour god. Furthermore, according to study guide 5, into the after affects of the holocaust, there was growing conflict in Palestine between the Jews and the Arabs. Therefore it was even more important to make sure that all the Jewish people were united so that they could establish the State of Isra el. However, since the Second World War it is very understandable that Jews up until this day and age have had difficulty in viewing Christians and their faith in a positive light. However, attempts to achieve this have been achieved through emphasizing the complexity of what occurred in the Christian community during Nazi Germany and the way that anti Judaism became the foundation for anti Semitism. However, after World War Two there were different types of thinking from Jews on how to rebuild this relationship, and ultimately how they have struggled to come to a positive understanding of Christianity. Coming back post war analysis of the Jewish and Christian relationship, in recent years, there have been considerable changes within the religious dimension of both this groups. It is necessary to separate race from religion as it can have a significant impact on how both groups viewed the holocaust and their reactions to it. In the Good Friday prayer it has been clearly stated that, we see not a gradual evolution but a dramatic change. Furthermore, the Church of England Prayer Books have also clearly stated that, Have mercy upon all Jews, Turks, infidels and heretics. It is because of this that now churches that hold services during Lent, Holy Week and Easter now officially contain a prayer: Let us pray for Gods ancient people, the Jews, the first to hear his word- for greater understanding between Christian and Jew for the removal of our blindness and bitterness of heart that God will grant us grace to be faithful to his covenant and to grow in the love of his name (After the Evil Introduction page 6 , (2003,Harries Richard) This is an important change that has occurred as it shows progress has been made since the holocaust, between the Christian and Jews relationship. The religious members are now actively looking for means to reconcile their relationship in a positive manner. Despite these positive claims there have been negative approaches towards dealing with the great tragedy. The term Holocaust is referred to by Jews as Shoah and it shocked the Christian Churches when Jews asked very open and searching questions about its responsibility of what happened in the Holocaust. In fact Jewish scholars such as Norman Solomon stated that he, objected to Christianitys new relationship to Judaism being built upon a sense of guilt. There are scholars who fully back this view up and also continue to emphasize that after the war Christianitys relationship with Judaism should be built upon the fact that the Jewish religion, Judaism is a significant and living religion and that a relation should be built upon respect for this fact (page 10, After the Evil, 2003, Harries Richard) There are many Jews who have decided to rebuild the relationship, by once again looking at the positive side of Christianity during the war. This side of Judaism looks at the Righteous Gentiles in the holocaust. These were individuals who tried to help Jews and give them honour in a special way. According to historical sources, it is extremely important to do this and very sad there is no emphasis on this in all the memorabilia and in the museums. It is said that humanity needs good role models, and that if we missed this people out people would come away thinking very biased views about Christianity and the Christians during that time. In light of this, there is a whole section in a Museum in Israel that is dedicated to the Righteous Gentiles. This is also significant in helping to rebuild the relationship between Christians and Jews as it shows that at the height of all the tragedy there were good Christians who were willing to risk their own life to help the Jews. (page 10, After the Evil, 2003, Harries Richard) This can offer another basis on which to reconcile broken relationships between Christians and Jews. By looking at the post war relationship between Christians and Jews it is very important to distinguish between Anti Judaism and Anti Semitism. Anti Semitism was only focused upon a hatred for the Jews as a race and this was developed further into modern thinking during the nineteenth century when there was lots of theories about race being published. However, Anti Judaism is quite significantly different because this is a hatred and hostility that is aimed at the religion. It was quoted by Gavin Langmuir, who stated that Geoffrey Alderman had strongly argued that the difference of anti Judaism and Anti Semitism merged together in the twelfth century and the difference became blurred. This occurred exactly at the time when Western Christianity started to become undermined by self doubt. (Geoffrey Alderman, Anti Judaism and Anti-Semitism, Jewish Journal of Sociology. 33/2 (Dec. 1991). Regardless of whether this historical source is true or now, it is important to make a clear distinct ion between what Anti Judaism is and what happened during the Third Reich under Hitlers power. According to the Oxford Companion to Christian Though (OUP, 2000, pg 16) the question to really ask here is how much of the Anti Judaism in the churches past, including, centuries- long teaching of contempt, prepared the ground and dulled peoples hearts and minds, so that anti-Semitism could take hold with so little resistance in the population as a whole and how much of this contributed to the passive resistance by the Christian community as the events of the holocaust unfolded. It is here we can see why anti Semitism and anti Judaism have merged together and why there is difficulty in establishing a positive relationship between Christians and Jews in this day and age. In the present day, there was a very first Holocaust Memorial day in Britain 2001. Before this happened there was great debate amongst society about whether this should focus on just the holocaust or consider other genocides that have occurred in the twentieth centuries. The Jewish community in particular was very unhappy about focusing just on the holocaust and singling them out in such a manner. They wanted to be seen as a part of a bigger problem in the world. Nevertheless it is so important to remind the world about these terrible incidents and the scale at which it happened. It was not simply a loss of lives on a huge scale but an entire population which had a different lifestyle and culture. (Harries Richard 2003, pp21, After the Evil). Grieving for this loss is a huge dimension but the role of the people during the time is even more significant, particularly Christianity and the churches. In fact witnesses recount what occurred during the war. One particular incident that stan ds out in (After the Evil, Harries Richard 2003) is of a Catholic mother appealing for her son, to not do anything for fear of being persecuted. She specifically told him that god would help him not do anything bad. The son stood by and watched many Jews die including children. These accounts show the fear that prevailed during the time, and how religion played a part in how Christians reacted during the Holocaust. Overall throughout the centuries, Jews have experienced much persecution. The Holocaust is one of pain and suffering on a massive scale, and shows how damaging hatred and prejudice can be. There is still ongoing conflict between Christians and Jews, and since the Holocaust it is very different to the conflict that occurred between these two religions. Previously, disagreements have occurred about existing side by side and creating a national and religious identity. Now, the conflict is outside of any of these ideas and now their relationship is largely discussed in reference to the holocaust. These discussions are mainly about the ways in which Christians dealt with Jews, and now is seen as a major moral issue. Any reflections that are made regarding the Christian/Jewish relationship have to be made carefully, keeping in mind that it will always be a moral issue. (Religon in History, pg245, Herbert).

Abortion Should be Illegal in American Society Essay -- The Right to Li

I must admit that the concern for the mother's safety is important, and that is exactly why abortion may not be the best option. There are many complications that affect a person after having an abortion, but I will only mention two. The first complication of having an abortion is a possibility of developing a mental disorder. The second complication is an increased risk of breast cancer. A study done by professors in the Department of Child and Adolescent Psychiatry at the University of Manchester; showed that women who had an abortion have a risk of developing mental disorders (Major et al). The study also concluded that people who had prior psychological disorders have an even greater risk of developing a mental disorder, than people who did not have a history of psychological disorders (Major et al). In another study, a conclusion was reached that people that went through an abortion are more likely to develop mental disorders, than people that went through pregnancies (Reardon e t al). The research data that people use as a source for their information vary, because the amount of research done on the issue is minimal. However, the current indication is that an increase risk in psychological issues is associated with abortions. I am confident in the data that I obtained, because the information was taken from credible sources. The data that I located only mentioned that people are at risk of developing psychological disorders after abortion, but the articles did not go into detail about the specific disorders. The most remarkable danger for people that seek an abortion is an increased risk in developing breast cancer. The increased risk in breast cancer may be a compelling argument. Current studies show that people who have ... ...00. 10 Mar. 2006 . Reardon, David C., et al. â€Å"Psychiatric admissions of low-income women following abortion and childbirth.† CMAJ. 13 May 2003. 11 Apr. 2006 . Sade, Robert M. â€Å"Defining the Beginning and the End of Human Life: Implications for Ethics, Policy, and Law.† Blackwell Synergy. Mar. 2006. 11 Apr. 2006 . Turner, T. â€Å"Induced Abortion Might Elevate a Woman's Breast Cancer Risk in Later Years† JSTOR. Jan. 1995. 10 Mar. 2006 .

Power of Cash Flows

The Power of Cash Flow Ratios EXECUTIVE SUMMARY CASH FLOW RATIOS ARE MORE RELIABLE indicators of liquidity than balance sheet or income statement ratios such as the quick ratio or the current ratio. LENDERS, RATING AGENCIES AND WALL STREET analysts have long used cash flow ratios to evaluate risk, but auditors have been slow to use them. SOME CASH FLOW RATIOS COMPARE THE RESOURCES A company can muster with its short-term commitments. OTHER CASH FLOW RATIOS MEASURE A COMPANYS ability to meet ongoing financial and operational commitments.THERE IS NO CONSENSUS ON THE DEFINITION OF NET free cash flow, although the authors suggest taking off-balance-sheet financing into account. AUDITORS CAN USE THE INSIGHTS uncovered by cash flow ratios to spotlight potential problem areas, thus helping them plan their audits more effectively. JOHN R. MILLS, CPA, PhD, is a professor in the Department of Accounting and CIS at the University of Nevada, Reno. His e-mail address is www. [email  protected] unr. edu1. Mills experience includes auditing and consulting in the gaming industry. JEANNE H.YAMAMURA, CPA, PhD, is an assistant professor in the accounting and CIS department at the university's Reno campus. Her e-mail address is www. [email  protected] edu2. Yamamura worked as an auditor overseas, including a stint in Papua, New Guinea. To fully understand a company's viability as an ongoing concern, an auditor would do well to calculate a few simple ratios from data on the clients cash flow statement (the statement of sources and uses of cash). Without that data, he or she could end up in the worst possible position for an auditor—having given a clean opinion on a client's financials just before it goes belly up.When it comes to liquidity analysis, cash flow information is more reliable than balance sheet or income statement information. Balance sheet data are static—measuring a single point in time—while the income statement contains many arbitrary noncas h allocations—for example, pension contributions and depreciation and amortization. In contrast, the cash flow statement records the changes in the other statements and nets out the bookkeeping artifice, focusing on what shareholders really care about: cash available for operations and investments.For years, credit analysts and Wall Street barracudas have been using ratios to mine cash flow statements for practical revelations. The major credit-rating agencies use cash flow ratios prominently in their rating decisions. Bondholders—especially junk bond investors—and leveraged buyout specialists use free cash flow ratios to clarify the risk associated with their investments. That's because, over time, free cash flow ratios help people gauge a company's ability to withstand cyclical downturns or price wars.Is a major capital expenditure feasible in a tough year? If the last time total cash got a hair below where it is now the company's capital structure had to be r evamped, the auditor should treat the deficient value like a loud buzzer. Many auditors and, to a lesser extent, corporate financial managers have been slow to learn how to use cash flow ratios. In our experience, auditors traditionally use either a balance sheet or a transaction cycles approach. Neither approach emphasizes cash or the statement of cash flows.While auditors do use the cash flow statement to verify balance sheet and income statement accounts and to trace common items to the cash flow statement, their use of ratios for cash-related analysis has been limited to the current ratio (current assets/current liabilities) or the quick ratio (current assets less inventory/current liabilities). According to an informal survey of Big 5 and other national accounting firms, even now their audit procedures have not changed in ways that take advantage of the information presented in the cash flow statement, even though that statement has been required for over a decade.The value of cash flow ratios was evident in the collapse of W. T. Grant. Traditional ratio analysis performed during the annual audit did not reveal the severe liquidity problems that resulted in a bankruptcy filing shortly thereafter. While W. T. Grant showed positive current ratios as well as positive earnings, in fact it had severely negative cash flows that rendered it unable to meet current debt and other commitments to creditors. Educators have not been emphasizing the cash flow statement either. Auditing textbooks commonly include only ratios based on the balance sheet and income statement with little or no discussion of cash ratios.The next generation of auditors needs to learn how to use cash flow ratios in audits because such measures are becoming increasingly important to the marketplace. Investors and others are relying on them. The cash flow ratios we find most useful fall into two general categories: ratios to test for solvency and liquidity and those that indicate the viability o f a company as a going concern. In the first, liquidity indicators, the most useful ratios are operating cash flow (OCF), funds flow coverage (FFC), cash interest coverage (CIC) and cash debt coverage (CDC).In the second category, ratios used to assess a company's strength on an ongoing basis, we like total free cash (TFC), cash flow adequacy (CFA), cash to capital expenditures and cash to total debt. Lenders, rating agencies and analysts use all of these. Auditors should know when and how to use them, too. The gaming industry expanded to 12 states from 2 between 1989 and 1995. During that time, many of the traditional casino corporations managed asset growth rates of 200% and more. Rapid expansion led to major problems, including bankruptcy, when revenues did not meet projections.As this examination of two gaming companies shows, cash flow analysis can help avoid business meltdowns, providing auditors and clients with an additional level of comfort in both planning the audit and ev aluating the strength of the going concern. Boomtown was a relatively young but successful Nevada company that went public in October 1992, with assets of $56 million. By 1995, its assets were up to $239 million, dropping to $206 million in 1996. Company operations grew from one casino in the local Nevada market to four properties in three states—Nevada, Louisiana and Mississippi.In the same period, Circus Circus was one of the largest and most profitable gaming corporations in the industry. Its properties, also all in Nevada at that time, included the Excalibur and the original Circus Circus in Las Vegas, the Colorado Bell and Edgewater in Laughlin and the Circus Circus in Reno. The company grew from total assets of $783 million in 1992 to over $2. 2 billion by 1996, including acquisitions. By the end of 1996, it had operations in three states—Nevada, Louisiana and Mississippi. Liquidity Assessment Exhibit 13, shows a variety of ratios calculated from the financial st atements of Boomtown and Circus Circus.The figures cover the period from 1992 to 1996, although Circus Circus was on a January 31 fiscal year while Boomtown used a fiscal year ending September 30. Look at the lines for the current ratio (current assets/ current liabilities) and the quick ratio (current assets less inventories/current liabilities) for each. Viewed through the lens of these traditional balance-sheet-based ratios, Boomtown appears to be stronger financially than Circus Circus. But this was not the case. Boomtown's current ratio was frequently well over 1. 00, even soaring to 4. 4 in 1993, while Circus Circus current ratio never strayed over 1. 32. Boomtown was able to maintain a higher quick ratio as well. Over the five years in question, Boomtown's current ratio showed fairly consistent improvement, a trend that would be reassuring to most auditors. Although the balance sheet ratios for both companies are fairly low, that is normal for the gaming industry. Casinos jus t don't carry much inventory—mostly perishable foods and the like. And gaming companies carry practically no receivables because gaming generally is a cash business.The traditional measures don't address operating cash flows or cash interest coverage directly, but auditors can use cash flow ratios to answer questions about their clients liquidity—Are these companies generating enough cash to cover their current liabilities? How many times does cash flow from operations cover interest expense? Running a Casino†¦ Image Boomtown's cash interest coverage was considerably weaker than that of Circus Circus, except in 1993, when Boomtown had no long-term debt. Circus Circus consistently maintained cash in excess of 5 times debt. Now look at the line for OCF.Over the interval shown, the Circus Circus OCF ratio slipped under 2. 00 only once, meaning that it generated enough cash to cover its current liabilities twice over—and even improved on that despite a rapid gr owth rate. The company's cash interest coverage ratio also was consistently high. Boomtown's cash flow ratios, however, might surprise an auditor relying solely on balance sheet ratios. Its OCF was consistently weaker than that of Circus Circus, even slipping into a negative position in 1994. Once Boomtown's OCF slipped below 1. 00, it was not generating enough cash to meet its current commitments.Accordingly, it had to find other sources for financing normal operations. An auditor relying solely on the quick and current ratios in this instance would have missed that important point. An auditor who bothered to calculate two other cash flow ratios—FFC and cash/current debt—would have gotten even more remarkable results. Because Circus Circus carried very little current debt, its cash covered current debt well over 175 times in every year, while Boomtown's cash didn't even cover current debt in 1994, and its cash/current debt coverage was in the single digits for three o f the other four years.More remarkably, Boomtown's FFC went negative in 1994 and again in 1996 and was consistently weaker than that of Circus Circus in every year. Accordingly, the conclusions an auditor might draw after looking at the cash flow ratios might differ sharply from his or her opinion based solely on balance sheet ratios. Going-Concern Analysis Traditionally, auditors have used the balance-sheet-based debt-to-equity ratio (total debt/total equity) and the times-interest-earned (EBIT/annual interest payments) ratio to examine a company's longer-term financial health (see exhibit 24).These measures do provide one perspective on the company's ability to carry its long-term debt obligations and its solvency. The traditional solvency ratios reveal big differences between Circus Circus and Boomtown. Although both companies expanded considerably in 1993 and 1994, the effects on each corporation's financial position were drastically different. Circus Circus showed a downward tr end in its traditional debt-to-equity ratio, an indicator of an increasingly strong balance sheet, while maintaining a fairly stable times-interest-earned ratio.After 1992, Boomtown's debt-to-equity ratio rose steadily, showing increasing reliance on outside borrowing. Its times-interest-earned ratio also weakened, even going negative twice. Cash flow ratios, however, provide an even clearer picture of each company's financial solvency. Consider the lines for TFC, two for each company—one based on actual capital expenditures and the other on estimated maintenance spending. Negative figures in 1993 reveal that Circus Circus needed to go outside to raise cash for capital expenditures in both 1993 and 1994.However, using a capital maintenance approach, figures consistently greater than 1. 0 show the company was clearly generating enough cash flow from operations to maintain its normal operations and to provide at least some funds for additional growth. But 1993 and 1994 were yea rs when total assets grew at 21% and 37%. Few companies could expand at this rate solely with internally generated funds from operations. Analysis of Boomtown's cash flow ratios unveils a very different kind of growth. Its TFC (maintenance) ratio slipped below 1. 0 for three years in a row.An auditor who notices that Boomtown wasn't able to fund normal operations from internal sources for three consecutive years has heard an alarm; however, the noise from the TFC (actual) ratio is even louder. Boomtown did not manage any of its growth from internally generated cash—it's TFC (actual) ratio never got above 1. 00! That can't go on forever. Now look at the total debt ratio line and the two cash flow adequacy (CFA) ratio lines for each company. The total debt ratio, to which credit-rating agencies and loan officers pay close attention, was quite stable for Circus Circus throughout.Boomtown's, which started out weaker, took one wild fluctuation way up and then collapsed. Looking at the CFA ratios, once again Circus Circus exhibits more than adequate funds for maintenance and sufficient internally generated cash for new capital investments in all but one year. The one exception was attributable to rapid growth. Boomtown's spectacularly negative ratios shout the company's need for substantial outside funding. Turning to the capital expenditures ratio lines, Boomtown was unable to generate enough cash internally to even maintain plant and equipment in 1994, despite more than doubling its total assets.Circus Circus, on the other hand, had plenty of cash for maintenance throughout and needed outside cash to fund growth only for a two-year interval. In fact, Boomtown's cash ratios do indeed reveal that drastic changes would have been needed for this company to survive on its own. It didn't. Boomtown was acquired by Hollywood Park, Inc. , on June 30, 1997. Boomtown also disposed of its Las Vegas property, which had generated continuing operating losses. Despite its earlier promise, Boomtown ran out of cash. Traditional ratios would not have provided sufficient warning, but cash flow ratios would have.Auditors who employ cash flow ratios to assess corporate liquidity and viability can help their clients spot trouble in time to take corrective action. HOW TO TEST SOLVENCY WITH CASH FLOW RATIOS Creditors and lenders began using cash flow ratios because those ratios give more information about a company's ability to meet its payment commitments than do traditional balance sheet working capital ratios such as the current ratio or the quick ratio. When a loan officer evaluates the risk she is taking by lending to a particular company, her greatest concern is whether the company can pay the loan back, with interest, on time.Traditional working capital ratios indicate how much cash the company had available on a single date in the past. Cash flow ratios, on the other hand, test how much cash was generated over a period of time and compare that to near -term obligations, giving a dynamic picture of what resources the company can muster to meet its commitments. Operating cash flow (OCF) Cash flow from operations Current liabilities Company's ability to generate resources to meet current liabilities Operating cash flow (OCF) ratio. The numerator of the OCF ratio consists of net cash provided by operating activities.This is the net figure provided by the cash flow statement after taking into consideration adjustments for noncash items and changes in working capital. The denominator is all current liabilities, taken from the balance sheet. Operating cash flow ratios vary radically, depending on the industry. For example, the gaming industry generates substantial operating cash flows due to the nature of its operations, while more capital-intensive industries, such as communications, generate substantially less. The gaming giant, Circus Circus, exhibited an OCF of 1. 37 for fiscal year l997 while the media king, Gannett, produced an OC F of 1. 148 for a similar period. In order to judge whether a company's OCF is out of line, an auditor should look at comparable ratios for the company's industry peers. (For further details, see the case study5. ) Funds flow coverage (FFC) EBITDA (Interest + Tax-adjusted* debt repayment + Tax-adjusted* preferred-dividends) Coverage of unavoidable expenditures *To adjust for taxes, divide by the complement of the tax rate. Funds flow coverage (FFC) ratio.The numerator of the FFC ratio consists of earnings before interest and taxes plus depreciation and amortization (EBITDA), which differs from operating cash flow. Operating cash flow includes cash paid out for interest and taxes, which EBITDA does not. The FFC ratio highlights whether the company can generate enough cash to meet these commitments (interest and taxes). Accordingly, interest and taxes are excluded from the numerator. The denominator consists of interest plus tax-adjusted debt repayment plus tax-adjusted preferred divi dends. To adjust for taxes, divide by the complement of the tax rate.All of the figures in the denominator are unavoidable commitments. An auditor can use the FFC ratio as a tool to evaluate the risk that a company will default on its most immediate financial commitments: interest payments, short-term debt and preferred dividends (if any). If the FFC ratio is at least 1. 0, the company can meet its commitments—but just barely. To survive in the long run, any company must have enough cash flow to maintain plant and equipment. To be really healthy, it should be able to reinvest cash for growth. Accordingly, if a company's FFC is less than 1. , the company must raise additional funds to meet current operating commitments. To avoid bankruptcy, it must keep raising fresh capital. Cash interest coverage Cash flow from operations + Interest paid + Taxes paid Interest paid Company's ability to meet interest payments Cash interest coverage ratio. The numerator of cash interest coverag e consists of cash flow from operations, plus interest paid plus taxes paid. The denominator includes all interest paid—short term and long term. The resultant multiple indicates the company's ability to make the interest payments on its entire debt load.A highly leveraged company will have a low multiple, and a company with a strong balance sheet will have a high multiple. Any company with a cash interest multiple less than 1. 0 runs an immediate risk of potential default. The company must raise cash externally to make its current interest payments. The cash interest coverage ratio is analogous to the old-fashioned coverage ratio (also known as the interest coverage ratio). However, where the numerator of the coverage ratio begins with earnings from the income statement, the numerator of the cash interest coverage ratio begins with cash from the cash flow statement.Cash interest coverage gives a more realistic indication of the company's ability to make the required interest payments. Earnings figures include all manner of noncash charges—depreciation, pension contributions, some taxes and stock options. A company with a low income-based coverage ratio may actually be able to meet its payment obligations, but the mask of noncash charges makes it difficult to see that. A cash-based coverage ratio gives a direct look at the cash available to pay interest. Cash current debt coverage Operating cash flow—cash dividends Current debtCompanys ability to repay its current debt Cash current debt coverage ratio. The numerator consists of retained operating cash flow—operating cash flow less cash dividends. The denominator is current debt—that is, debt maturing within one year. This is, again, a direct correlate of an earnings current debt coverage ratio, but more revealing because it addresses managements dividend distribution policy and its subsequent effect on cash available to meet current debt commitments. As with the cash interest coverage ratio, the current debt ratio indicates the company's ability to carry debt comfortably.The higher the multiple, the higher the comfort level. But like most other ratios, as long as the company is not insolvent, the appropriate level varies by industry characteristics. HOW TO USE CASH RATIOS AS A MEASURE OF FINANCIAL HEALTH Beyond questions of immediate corporate solvency, auditors need to measure a client's ability to meet ongoing financial and operational commitments and its ability to finance growth. How readily can the company repay or refinance its long-term debt? Will it be able to maintain or increase its current dividend to stockholders? How readily will it be able to raise new capital?Banks, credit-rating agencies and investment analysts understandably are very concerned with these questions. Accordingly, they have developed several ratios to provide answers to them. Auditors, who are more concerned about full disclosure, can use these same ratios to pinpoint area s for closer scrutiny when planning an audit. Capital expenditure Cash flow from operations Capital expenditures Company's ability to cover debt after maintenance or investment on plant and equipment Capital expenditure ratio. The numerator is cash flow from operations. The denominator is capital expenditures.A financially strong company should be able to finance growth. This ratio measures the capital available for internal reinvestment and for payments on existing debt. When the capital expenditure ratio exceeds 1. 0, the company has enough funds available to meet its capital investment, with some to spare to meet debt requirements. The higher the value, the more spare cash the company has to service and repay debt. As with all ratios, appropriate values vary by industry. Cyclical industries, such as housing and autos, may show more variation in this figure than noncyclical industries, such as pharmaceuticals and beverages.Also, a low figure is more understandable in a growth indu stry, such as technology, than in a mature industry, such as textiles. Total debt Cash flow from operations Total debt Company's ability to cover future debt obligations Total debt (cash flow to total debt) ratio. The numerator is cash flow from operations. The denominator is total debt—both long term and short term. Total cash flow to debt is of direct concern to credit-rating agencies and loan decision officers. This ratio indicates the length of time it will take to repay the debt, assuming all cash flow from operations is devoted to debt repayment.The lower the ratio, the less financial flexibility the company has and the more likely that problems can arise in the future. Auditors should take diminished financial flexibility into account when identifying high-risk audit areas during planning. NET FREE CASH FLOW RATIOS Other ratios that spotlight a company's viability as a going concern rely on a computation of net free cash flow. Net free cash flow (NFCF) is not yet well defined, although bankers are working to standardize these computations in a way that would facilitate comparisons across companies and across industries.However, at present, there are still many variations of net free cash flow. We propose a total free cash (TFC) ratio developed by First Interstate Bank of Nevada, which uses it to make loan decisions and loan covenant agreements. This TFC computation offers the advantage of incorporating the effects of off-balance-sheet financing—by taking into account operating lease and rental payments. Total free cash (TFC)†  (Net income + Accrued and capitalized interest expense + Depreciation and amortization + Operating lease and rental expense – Declared dividends – Capital expenditures) (Accrued and capitalized interest expense Operating lease and rental expense + Current portion of long-term debt + Current portion of capitalized lease obligations) Company's ability to meet future cash commitments †  These rat ios require computation of the company's net free cash flows. As net free cash flow can vary by company as well as by industry, the formulas should be considered as recommended rather than absolute. TFC ratio . The numerator of this ratio is the sum of net income, accrued and capitalized interest expense, depreciation and amortization and operating lease and rental expense less declared dividends and capital expenditures.The denominator is the sum of accrued and capitalized interest expense, operating lease and rental expense, the current portion of long-term debt and the current portion of long-term lease obligations. Varying definitions of capital expenditures can confuse the issue. Since different definitions change the value of free cash flow ratios, it is best to be clear about which definition the auditor is using and why it makes sense for a particular purpose. For example, if the auditor is trying to determine whether the company can maintain its present level of operations, the capital spending figure used hould exclude new investments and be limited to the amount of spending required to maintain operating assets. Sometimes maintenance spending is estimated at 2% of total assets, or up to 5% of property, plant and equipment. Industries with very long-lived capital assets may use smaller percentages to estimate maintenance spending. However, if the auditor is more interested in long-term growth potential, then actual capital expenditures from the cash flow statement should be used. Cash flow adequacy (CFA)†  (EBITDA – taxes paid – interest paid – capital expenditures) (Average annual debt maturities scheduled ver next 5 years) Company's credit quality †  These ratios require computation of the company's net free cash flows. As net free cash flow can vary by company as well as by industry, the formulas should be considered as recommended rather than absolute. Cash flow adequacy (CFA) ratio. The numerator is earnings before interest, taxes, depreciation and amortization (EBITDA) less taxes paid (cash taxes) less interest paid (cash interest) less capital expenditures (as qualified above). The denominator is the average of the annual debt maturities scheduled over the next five years.Cash flow adequacy helps smooth out some of the cyclical factors that pose problems with the capital expenditure ratio. It also makes allowances for the effects of a balloon payment. Companies with strong NFCF compared with upcoming debt obligations are better credit risks than companies that must use outside capital sources. Thus, a high CFA means high credit quality. KNOW YOUR CLIENT In order to fully understand where to set the levels at which the cash flow ratios discussed here should trigger deeper investigation, auditors need to understand their clients businesses and the industries in which they operate.As with any other ratio, an auditor should listen to the client's explanation of any unfavorable changes in cash r atios before becoming too alarmed. An auditor should know what cash concerns are critical to a company's business. We wouldn't suggest that a successful audit is just a matter of picking the right equations and plugging in the numbers. There are no absolutes. But properly applied, cash flow ratios can be revealing to auditors during the audit planning stages and can give the auditor a more accurate picture of the company. Auditors must ascertain whether the financial statements are fairly presented in accordance with GAAP.They must be satisfied with the accuracy of the transactions and balances summarized in the four financial statements and the related disclosures. Effective auditors can use cash flow ratios to improve their understanding of the cash concerns critical to the particular company and to plan the audit more effectively. References ^www. [email  protected] unr. edu (www. readability. com) ^www. [email  protected] edu (www. readability. com) ^Exhibit 1 (www. journalo faccountancy. com) ^exhibit 2 (www. journalofaccountancy. com) ^case study (www. journalofaccountancy. com)

Which is Stronger-Nature or Nurture essays

Which is Stronger-Nature or Nurture essays Genes are what we are all made of. The Vast History Book of our entire species condensed into a microscopic code of chemical compounds. Can cracking this code enable us to conclude a persons behavior? If you answered yes to this question, what developed our genes to be the way that they are in the first place? The answer to this, my friends, is that our genes are a product of the nurture (environment) of our ancestors, and our genes can unveil our born personality and instincts. Richard Mulcaster was right when he said that human personalities were born not made. To complete this statement, human personalities are born not made, and the environment to some extent changes the born personality. The genes determine many of the behaviors that occur in a person, but the nurture throughout that persons life develops, and really shapes the genes for the next generation and this is the endless evolutionary chain. Every generation of genes starts where the genitor left off. This is to say that the genitor passes down the genes, the genes having evolved from the genitors experiences, and continues to evolve from the offsprings experiences. Okay, so which came first, the chicken or the egg? Well, the truth is, we dont know. Monkeys have an inborn greater potential to fear snakes rather than to fear flowers. This is because the environment provides a reason for monkeys to fear snakes such as snakebite. This bite cause a gene, lets say the fear snakes gene, to have a greater tendency to turn on (or be more susceptible to turn on). A monkeys ancestors have never been provided with a reason to fear flowers, so the fear flower gene was never turned on, giving a small susceptibility to fearing flowers. This concept shows why there is a vast variety in personalities among people, everybody comes from a different ancestry, and also proves why identical twins have been found to have very similar behaviors, also brothers...

Water Pollution in the Jamaican Society Essays

Water Pollution in the Jamaican Society Essays Water Pollution in the Jamaican Society Paper Water Pollution in the Jamaican Society Paper NEAP revealed, concerned the discharge of trade effluent into the environment without the requisite license, while the reported breach under the Wildlife Protection Act had to do with allowing a toxic substance into a water body that contains fish. The preliminary water sample test results were showing that the ROI Cobber had a pH level of 1 1. 2 on August 30 when the fish kill was detected. Our results were 11. 2, which is very close to 14. That level was very alkaline and resulted in the fish kill, NEAP told the Sunday Observer. They added that the presence of sodium hydroxide, an alkaline sodium compound used by bauxite companies in their operations, had likely caused the waters alkalinity. The National Environment and Planning Agency (NEAP), has served an Enforcement Notice on the National Water Commission (NC) for the alleged discharge of improperly treated trade effluent from a sewer main on North Street, Kingston. The sewer main empties into a gully that discharges into the Kingston Harbor. The discharge of improperly treated trade effluent into the environment poses a serious threat to the health of persons in immunities in the vicinity, as well as to the natural resources within the Kingston Harbor, said a statement from NEAP For non-point pollution in particular, prevention is the most effective measure. Harmful production, consumption and disposal practices need to be monitored, controlled, and where possible prohibited, to prevent hazardous substances from reaching water bodies and impacting human and ecosystem health. Destruction is a mans will, nevertheless prevention is also a mans will, its a mans choice to choose between destruction and prevention. Pollution is an everyday thing, e all do it, we see friends, family and strangers do it, we know it is wrong so why do we further the destruction of our island? We are not just killing the small fishes in the sea, or making our beaches look unpleasant but making our small home unfit for our living. It has been written that the meek shall inherit the earth. What has not been written is that they shall inherit it after the greedy and the selfish have already polluted the air, fouled the water and poisoned the food chain. The actual moral of the parable is stand up for yourself, for our planet and for all who dwell here.

Issues in Multicultural Britain Essay Example | Topics and Well Written Essays - 3500 words

Issues in Multicultural Britain - Essay Example The conclusion of the Second World War in 1945 hastened a level of cultural interaction and immigration into many Western nations that had not previously been seen. Much of this immigration and increased cultural interaction was the result of the fact that tens of thousands of individuals were force to seek work elsewhere or move from the destroyed regions that they had previously lived. In his text ‘Multiculturalism: A Civic Idea’ Modood (2007) stresses the importance of education in shaping multiculturalism in the modern society. This paper examines the prospects of multiculturalism with the impending changes to the national curriculum. The need for change is contingent upon some of the issues that have been represented within England over the past few decades. Ultimately, the nation is experiencing something of a tribalized level of development; with certain ethnic, racial, or religious groups seemingly existing within the periphery of English life and not actively vi ewing themselves as a functional part of it. This creates a serious issue both for the society’s development and for the way in which multicultural can be effected or considered as an overall success. Within this understanding, stakeholders within government and education have determined that the most effective way of correcting this would be to focus a higher level of emphasis on engaging multicultural norms and forms of appreciation within the educational structure; as a means of integrating with the societal stakeholder as they are young and explaining the importance of this as a means of forming a more cohesive yet individualized nation. For a long time since it came to the fore in the 1940s, multiculturalism has been presented as a positive feature of national societies. Countries and even cities have proudly presented themselves as being multi-cultural or even metropolitan; this represents part of a wider ideology referred to as multiculturalism (UNESCO, 2003). During the past

Qualitative Market Research Essay Example | Topics and Well Written Essays - 2000 words

Qualitative Market Research - Essay Example The researcher aims to develop primary research and gain first hand information from the customers for the launch of Kit Kat chocolate slab. Hence, employed in this research are two techniques of primary research to update perception of Kit Kat among chocolate eaters. Findings of the primary data have been presented. In addition the researcher has discussed in detail the various aspects of the research techniques employed. Researcher has also shed light on other techniques (that have not been employed due to resource constraint) identifying aspects that could have been explored based on employment of other techniques. Research Method 1- PRIMARY RESEACH Among two broad categorization of research is primary and secondary research. Primary research refers to research methodology with analysis and fact finding from data that has been collected for the first time and has not been through application of any techniques before (Glass, 1976). Among many techniques designed for primary researc h, two that have employed in this research are individual interview and focus group interviews. Both techniques have been employed face to face. Interview method of data collection refers to oral and verbal response to oral and verbal queries. ... The other method of unstructured interview provides interviewee with freedom to response but increases deviations resulting difficulty in comparing responses (Sekaran, 2006). 1.1.1- EFFECTIVENESS Effectiveness of personal interviews is dependent on the level of contribution from both sides; i.e. interviewee and interviewer. Interviewer shall provide comfortable environment providing ease to interviewee to openly and comfortably present his/ her views. Moreover, interviewer possessing dominant attitude affect the effectiveness of overall methods. Interviewee is usually asked for prior consent and hence, shall be true in information provision. 1.2- FOCUS GROUP SESSION Focused group discussion is conducted to explore responses of individuals' to any existing products, concept or ideas. It is based with degree of formal discussion usually among group of 6 to 8 participants. Participants are directed by moderator towards point of discussion acting as a psycho-therapist. During discussion moderator avoids reflecting any of personal views and encourages participants to provide increased response. This format also is generally initiated by moderator; however, rigidness of the order of question is somewhat relaxed in this format. 1.2.1- EFFECTIVENESS Effective focused discussion can be achieved with moderator playing role in true spirit, avoiding taking side of either participants and encouraging entire group to participate almost equally. Moreover, participants must also maintain to present their view than dominating the group. Effectiveness of the focused discussion can also be achieved with carrying discussion in well defined flow: initially warming up participants with thoughts; exploring important