The causes and effects of sleep deprivation among students free essay sample

Did you get up at the beginning of today feeling more drained than you did when you hit the sack? Assuming this is the case, something is upsetting your rest. Nonetheless, do you know what it is? This issue is the same old thing but an ever increasing number of understudies experience the ill effects of lack of sleep, which is an absence of rest that viably revive the body, both genuinely and mentally. Stress, unbalance diet, and intuitive gadgets could be the causes to lack of sleep. These elements can result into psychological maladjustment, scholarly execution can be seriously influenced and could prompt the danger of getting corpulence. One of the primary driver of lack of sleep is pressure. Understudies consistently consume the 12 PM oil to complete the task as each instructor nearby gives a task on that week (Smith, 2010). The contribution in humanitarian effort and social exercises pack their timetables (Smith, 2010). Other than that, the predominant factor of potential stressor is family (Brecht, n. We will compose a custom article test on The circumstances and end results of lack of sleep among understudies or then again any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page d. , p. 21). Kinjal (2010) states that parental battle has huge effect on their youngsters, for example, savage discussions and utilization of upsetting language before their kids. Kids get a major worry from elevated standards by their folks (Pejakovic, 2012). For example, guardians need their youngsters to prevail in each field (Pejakovic, 2012). Diet can likewise cause lack of sleep. Rehearsing a fair eating regimen is critical to generally speaking wellbeing and rest in light of the fact that your body is as yet working while snoozing. Your body not just requires the sound supplements which is wealthy in products of the soil, fit proteins and entire grains, yet additionally need to evade singed nourishments and sugars (Morris, 2011). Also, nourishments ought to be devoured four hours before sleep time to defeat rest aggravation and confusion (LC, 2008). At the point when assessment is around the bend, understudies consistently drink caffeine which are found in espresso, tea, chocolate, cola, and caffeinated drinks. This is on the grounds that one caffeine can help up our body however now and then it past our need which can add to poor rest (Morris, 2011). Electronic gadgets are regularly disregarded as a lack of sleep cause. Czeisler (n. d. , as refered to in Tarkan, 2011) says that electronic gadgets are tempting understudies to keep awake until late. Understudies will in general answer their telephones or answer to a book in the night (Gustafson, 2009). As indicated by Gradisar (n. d. ), a co-creator of the investigation, intuitive electronic gadgets are progressively mindful and upset the rest cycle (Tarkan, 2011). In addition, the arrival of the rest advancing hormone melatonin is smothered by fake light from the PC screen (Tarkan, 2011). Studies have been directed, overviews have been taken, and it has been examined in the news for a considerable length of time that there are a great deal of results of lack of sleep. One of them is lack of sleep causes psychological maladjustment in understudies. Understudies get irritated for each outlandish explanation when they don't get appropriate rest (â€Å"Sleep hardship effects†, n. d. ). For instance, they blow up effectively with no explanation at their companions. This forceful nature can destroy a companionship, so they feel progressively discouraged (â€Å"Sleep hardship effects†, n. d. ). Besides, it can likewise prompt certain mental issues (Dixon, 2008). Tsang (2008) has discovered that short sleepers create outrage, uneasiness and stress. Deficient rest likewise managing further confusions that could make your life destroy and jeopardize your prosperity (Dixon, 2008). Another impact of lack of sleep is that it can influence a student’s scholarly execution in school. Mental weakness which result from lack of sleep prompts poor dynamic and debilitate critical thinking abilities (Dixon, 2008). Short sleepers will diminish their review capacity which is influencing everything from muscle to memory maintenance as rest is one of the body’s most imperative procedures (Smith, 2010). Kelly, Kelly and Clanton (2001) show that the diminished capacity to concentrate on instruction related exercises are liable for the lower grade-point midpoints of short sleepers. Indeed, numerous abilities covered up in understudies are influenced, for example, learning aptitudes and subjective conduct (â€Å"Sleep hardship effects†, n. d. ). Short sleepers are bound to put on abundance weight and become fat. As indicated by an examination by the University of Chicago, lack of sleep decline body’s affectability to insulin (â€Å"Sleep more, live†, 2012, p. 34). In this manner, it makes your body put on more weight rapidly (Rodolfo, 2011). The transcendent explanation for putting on weight is that the hormonal levels in the body that control craving vacillate follows from absence of rest (â€Å"Sleep hardship effects†, n. d. ). Stoutness, which builds the chances of creating rest apnea or indigestion and related stomach related issues, is expected to not eating appropriately (Morris, 2011). Having a decent night’s rest is a fundamental necessity for about all pieces of students’ life. Absence of a decent night’s rest can build the dangers of getting intellectually sick, influence scholarly exhibitions, and put understudies at a hazard for heftiness. These are because of stress experienced by understudies, lopsided eating routine, and intuitive hardware that understudies frequently disregard

My Biggest Passion free essay sample

My greatest enthusiasm, other than my better half and children, is riding bikes. This is something that I am still genuinely new to; I have just been riding for around five years now. From the start I was terrified to death, when I was around five or six I tumbled off the rear of one, however when I saw my kids riding with my better half on his and having a fabulous time I concluded I would attempt it and have been snared from that point onward. I want to pass on my energy in the accompanying article, and furthermore show everybody that we on bikes are generally innocuous and simply need a similar politeness out and about that you would give a vehicle or truck. While cruisers appear to be startling and hazardous, when utilized appropriately, they can really be fun and energizing. One of the most significant activities when riding a cruiser is get a protective cap that fits and consistently wear long jeans and sneakers or boots. We will compose a custom paper test on My Biggest Passion or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page You need as much dress among you and the black-top if something ought to occur. Be that as it may, first I might want to begin with the historical backdrop of bikes. Riding cruisers for me and my significant other is a fun and loosening up action. We have three major occasions that we do each year; the first is the Vermontville Maple Syrup Run in April, the Blessing of the Bikes in May and afterward our preferred which is our special first night/commemoration ride. A year ago at our Vermontville ride we rode with around 40 bicycles and pulled in to Vermontville with around a hundred bicycles. Storming heavily what not. My significant other can pack enough stuff on our bicycle (tent, hiking beds, sea shore umbrella, cushions and garments) to endure a few days of outdoors. On our normal commemoration trip we can log up to 700 miles in an end of the week. There is not at all like riding down the coast and smelling the water and trees and the air. I truly don't have the foggiest idea how to clarify how much these rides intend to us.

The Great Depression Brought Changes to Art in Many Ways Essay Example for Free

The Great Depression Brought Changes to Art from various perspectives Essay Life In America was increasingly open and out going then ordinary. Jazz clubs opened up at for the most part every square, where youthful energetic individuals would go drink and move the night away. This sort of social action was looked downward on by more seasoned residents that idea this sort of conduct was improper. This would at last lead up to forbiddance and the first run through ver in American history a change was pardoned making liquor unlawful in the United States. This caused crime percentages to soar inside American urban areas causing probably the most famous criminals in American history to rise, for example, A1 Capone. Such a large number of different things came out of the thundering 20s, for example, innovations of the vehicle, radio and planes, new design styles, high rises and motion pictures. With life getting updated did as well, workmanship. For the most part all through the 1920s there were an assortment of workmanship developments and styles that were well known. For example, oddity, Art Deco, reglonallsm and with new advances came photography and furthermore film. In 1929 the financial exchange slammed causing numerous individuals employments and their life reserve funds. Banks were proceeding to come up short and jobless specialists would depend on wrongdoing and robbery to help their families. With the financial exchange crash and numerous individuals in the red, this made ready for some specialists to communicate their emotions, through artistic creation, engineering [pic]and photography. One of the most well known craftsmanship developments during this time was known as American Scene painting. This craftsmanship development dismissed the previous European Modernist and dynamic styles. It basically delineated reasonable scenes of American life. One of the popular American scene painters was Charles Sheeler and was known as a Precisionist painter. HIS canvases for the most part comprised of rearranged types of American processing plants and structures and utilized crisped characterized edges with smooth brushwork all through his artworks. Above is his well known work titled essentially generally found in American design, Jewelry, furniture, garments and handcrafts all through the 1920s. Its geometrical plan with equal lines kept the smoothness style all through the 1920s. Oddity was initially shaped in Europe and with workmanship understudies from America they had brought the style over to the United States. The absolute most well known surrealist was Alexander Calder and Joseph Cornell. Calder was a stone worker and an architect who was motivated by surrealist painters in Europe to shape and make moveable bits of craftsmanship. One of his well known works was Lobster Trap and Fish Tail. The entirety of the parts moved, not precisely, yet with the breeze. Individuals think he was a theoretical craftsman, yet he needed to invigorate the creative mind. Regionalism was another workmanship development that was impacted by the American Scene painting. Award Wood was a regionalist painter who concentrated on the ordinary living in America. His American Gothic is a reasonable painting of what seems, by all accounts, to be a couple before their homestead house. Be that as it may, it is really expected to be a more established Iowa rancher and his little girl. The Regionalist development is partitioned into two gatherings. One is the social pragmatist and was affected by the social difficulties of the lower class. The other was the Regionalist and they were increasingly engaged of the positive side of things, (for example, Grant Wood), planning to drive America out of the downturn. A Regionalist painter named Thomas Hart Benton, painted his Instruments of Power from the wall painting America today. Which shows a wall painting of a wide range of mechanical enhancements during this timeframe. It comprises of a train, plain, electric towers, steam motors and different images of industry. The social pragmatists were basically centered around the American specialist and tried to change the hard financial occasions of the Great Depression. Indeed, the vast majority of the social pragmatists dismissed vision and concentrated on how the specialists saw the subjects and delineated how they felt about the subject. Social pragmatist style was related with hard-edged strong figures that are twisted and transformed. The developments principle objective was to show battles of the working America. The main social pragmatist during this time was Aaron Douglas, who was additionally the main craftsmen for the Harlem Renaissance. During World War l, million of African Americans moved toward the north to search for occupations. In the south there was very little open door at all for African Americans. This would be later called the Great Migration. This would cause incredible racial pressure in the north. In Harlem, anxious to impart their social considerations to the remainder of the world, African Americans would then investigate their new environmental factors and examination with usic, composing and workmanship that reform the Harlem Renaissance. Aaron Douglas would be the cutting edge of the Harlem Renaissance. He would deliver extraordinary works, for example, Aspects of Negro Life: From Slavery Through Reconstruction. This piece was intended for African Americans to acknowledge they are a piece of this world and this nation. The composition is a reenactment of the Emancipation Proclamation, which proposes that Douglas was attempting to strengthen their part ever. Douglass style was profoundly impacted conceptual style. He would utilize a constrained shading palette in his compositions utilizing an ariety of light and dim complexities inside his works. Rather than Aaron Douglas, a youthful Jacob Lawrence would show up, painting an arrangement called The Migration of the station. He utilized a theoretical style and straightforward shapes that fits the types of Cubism and African American people workmanship. In March 1933, recently chose president Franklin D. Roosevelt recommended an arrangement to renew the American economy. The arrangement was known as the new arrangement and was just a guarantee to the American individuals this new arrangement would get America out of the financial downturn. Numerous associations came out of this new arrangement plan. For starving craftsman, this gave them a prime chance to bring in cash and furthermore to show their centerpieces. The Public Works of Art Project (PWAP) was an association that was going to give craftsman work. The PWAP didn't keep going long however it gave craftsmen a resuscitating support. At that point in 1935 a much comparative association set up called the Federal Art Project (FAP) utilized more than 5,000 craftsmen from 1935 to 1943. Craftsmen, for example, Michael Lensin would profit by this association. His painting Mining gives a genuine comprehension of the American laborer. A significant part of the FAP craftsmanship were wall paintings, models nd frescos that despite everything exist all through the nation. The vast majority of the topic in these show-stoppers was for the most part about American battle and American success and accomplishments. These associations would create painters, however would likewise deliver incredible picture takers that would catch genuine liv e pictures of individuals. This new innovation would then change photography and will motivate future picture takers since the beginning. Photography was the most well known types of workmanship during the Great Depression. With new innovation for cameras it was simple for picture takers to catch pictures wherever they went. The photos caught genuine individuals with genuine battles. It additionally caught the brutal truth of the Great Depression. Numerous picture takers would go an alternate course and attempt to advance increasingly constructive pictures, for example, youngsters moving and making some great memories. The Works Progress Administration (WPA) would employ these picture takers to catch certain pictures to advance positive life. The Great Depression was a timespan when individuals expected to see the brutal real factors of the Depression and how it impact individuals, particularly the lower class residents. A picture taker, for example, Walker Evans was known as one of the experts of hotography. He took pictures of numerous individuals during the Great Depression and indicated the tiresome battles of Americans. Walkers utilization of lighting, structure and catching incredible detail was what made him a pioneer in the photography world. His photographs of tenant farmers and migrants during the Depression show the unforgiving real factors of their circumstance. He was recruited by the Farm Security Administration (FSA) to take a progression of photos of families living in run down homes. A photograph taken in 1936 shows a family living in poor and messy conditions presenting before the camera. They all look run down and crushed. He put them legitimately into the focal point of photo ensuring that they were the point of convergence of this image. You can see all through the image Just how horrendous these day to day environments were. He would then complete more arrangement of photos of the lower class during the Great Depression. symbolism of the Depression to show watchers the effect of the battling economy. The Farm Security Administration knew about how photos affected open idea. There are Pictures, for example, mioung Girls Knitting Stockings in Southern Hosiery Mill by Lewis W. Hine, which shows young ladies in a production line working in a cruel tmosphere. This was a prior photograph taken during World War l. He would then concentrate more on the advancement of America. He took an exceptional photograph called Rivetting on the arch, a quarter mile up. It was a photograph taken of laborers during the development of the Empire State building. A few photographic artists took photos of the positive, numer ous picture takers were increasingly inquisitive about the battles during the Great Depression. One picture taker specifically was Dorothea Langes

What Absolutely Everyone Is Saying About Vet Tech Essay Samples

What Absolutely Everyone Is Saying About Vet Tech Essay Samples What the vast majority of students don't know, nevertheless, is there are scholarships for just about whatever can pay for most or all the schooling! Most programs can be finished in two to three decades or five consecutive semesters. You should get in touch with the school of your choice and they'll be able to provide you information regarding tuition, in addition to financial aid. Contacting each individual school will offer all the details involved with the admissions process. This platform was made to fulfill the requirements of those that are interested in getting an essay done fast. There are times that you try to do your best and even then you're not able to score well in your home tasks. If you are able to use the provided information in a prudent way, you'll be in a position to create your efficient study program. Our site provides custom writing help and editing support. The War Against Vet Tech Essa y Samples Veterinary assistants are growing in demand throughout the country whilst pay rates also continue to rise. The admissions procedures to be a veterinary technician differ according to every school. Most veterinary technicians enter in the field with an associate's degree, but this isn't the only choice readily available to you. A vet tech also has to understand that his duties will differ from professional and knowledgeable veterinarians. The Birth of Vet Tech Essay Samples Though this task requires just a few things to finish, most students find it extremely tricky to compose an essay with quality. It is possible to easily depend on us to find essay help as we have a tendency to assist and guide the students with the aid of our professional experts. Writing a good essay is about more than simply using proper English. 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Veterinary technicians are an essential part of the veterinary practice. If a veterinary technician made a decision to further their education and become a specialist, based on the specialty they would concentrate on, they can earn a lot higher income. As soon as you've passed the ideal courses and exams, locate a mentor, work toward an apprenticeship, or locate an establishment that provides a great deal of on-the-job training. Fifteen continuing education credits and renewal every 2 years are expected to keep the certification. While the work market might be stable for veterinary technicians, the career doesn't pay a considerable volume.

Comparative Commentary - Mango St and Annie John - 1114 Words

Comparative Essay: gender roles in The House on Mango Street and Annie John Question 3: To what extent do male and female literary characters accurately reflect the role of men and women in society? In this essay I will analyse to what extent the characters in the novels The House on Mango Street (text A), by Sandra Cisneros, and Annie John (text B), by Jamaica Kincaid, reflect the role of men and women in society. These two novels criticise patriarchal societies, where â€Å"women are taught to think as men, identify with a male point of view and to accept as normal and legitimate a male system of values†¦Ã¢â‚¬  . In both of them, there are clear examples of chauvinism, which conditions the lives of Esperanza Cordero, a â€Å"Chicana† who lives†¦show more content†¦However, Annie is called a slut by her mother only because she was talking to a group of boys. Thus, we can see that women have fewer rights than men, which can lead them to a miserable life. Secondly, â€Å"Chicanas† and Antiguans are affected by marriage. Historically speaking, in both cultures young women were obliged by their parents to get married, without any possibility to express themselves. Since that moment, they are destined to live oppressed by a man they do not love. In Sandra Cisneros’s book, Esperanza tells us how her grandmother, described as â€Å"a wild horse of a woman†, was thrown a sack over her head and forced to marry Esperanza’s grandfather. Similarly, in text B there is also a victim of a marriage of convenience. Annie John’s parents want her to marry someone once she is in England, as a way of preserving Antigua’s culture, but she refuses. Thus, we can notice that Annie wants to disconnect herself from this patriarchal society, which submits her to a life without any type of rights. This is also the reason why she is disappointed the last time she sees her friend, Gwen. This girl is also obliged to marry a boy at an early age, and although she is thrilled with the idea, she subjugates to their parents’ desire instead of fighting for her rights. When Annie hears this news from Gwen, she completely understands that the relationship that once

Ict Ethical Dilemma Or Ethical Situation - 1137 Words

Title of the Topic:- Ethical Dilemma or Ethical Questionable situation related to ICT in newspaper or work place within last 6 months Worlds: - 700 Introduction:- In last 5 to 6 years there are very fast growing infrastructure with technology in Computer which changes the whole world scenario in many ways and all things are now rest on privacy , security that offering new tools to learning computer networks to students , professional and making digital world with lots of emerging technology. Recent years, Computer software and hardware all depends on networks and combining technology with networking integrates more powerful energy. This newer form has given many ethical dilemmas like e-learning, communication, copyright interpreted with the help of ICT ethical dilemma. These new issues will be now counted as more dangerous thing in emerging world. Over the decade the use of this technology increased very significantly in education, Governments and educational Places. The analysis using the Doing Ethics Technique (DET) Recently China has suffered from ethical dilemma where hackers of china attacked on NY Times systems and stolen the important information about password of other employees. Hackers entered into system lookout the networks of NY Times and get into it and find the relevant information about employees and also gets reporters password. The attackers first targeted on malware like malicious software which actively to rise entry into any computers on the timesShow MoreRelatedThe Ethical And Ethical Views Behind Computer Scientists1622 Words   |  7 PagesThere has been a legitimate distinction between the moral and ethical views behind computer scientists being responsible for the action that they take upon the problems that they can face from the systems that they design. They must be faced with the codes of ethics and the morality issues in order to acknowledge the user about the responsibility that they must encounter in order for the use of technology. In the case of the technological society, the IT technology must include security measuresRead MoreThe Impact Of Information Technology On Society And Legal Requisites1148 Words   |  5 Pagesclass the goal of learning this subject is to expose the legal responsibility and professional behavior by studying different case studies and present IT related articles which represent ethical, social and/or legal issues, situation and dilemmas. In doing this, tutorials and lectures provided framework of ethical thinking. This essay will reflect on how exploration of this subject framework has helped my insight into the practical application of ethic knowledge. As discussed in first lecture I learntRead MoreWhy Ethics Is Considered An Exhibited Behaviour Is Right Or Wrong?2815 Words   |  12 Pages 1. Step I: Understand the situation Ethics is regarded as the parameters used to judge whether an exhibited behaviour is right or wrong in relation to all the relevant parties involved (Rossouw and Van Vuuren 20). In the case under consideration, the background behind the firing of Harry is under scrutiny due to his risk taking tendencies. Although he is a talented software engineer, his employer and supervisor have a different perspective of him. They consider him wild and unorthodox. He has managedRead MoreThe Ethics Of The Ethical Values2535 Words   |  11 PagesThe ethical values are part of every person in all countries around the world. Each society has its own culture, beliefs, values, customs or habits that tend to shape the population that reside or were born in the country. Individuals tend to learn their ethical values at a pre-conventional period, during childhood and at that time, the beliefs of what is wrong or right start to be shaped inside them. EthicsRead More Global Information Infrastructure Essay2337 Words   |  10 Pagesand to narrow the gap between countries. The world stands today on the threshold of a Global Information Society. This position has been arrived at through the truly remarkable advances that have been made in recent years in the development of ICT as well as the construction and development of national and global information infrastructure. Through these developments it is now both technically and economically feasible to bring modern information and communications technologies to any part ofRead MoreHow The Superintendents Leadership Program Transformed Me As A Leader?3557 Words   |  15 Pagesdirections of our organization. I am confident now to declare that I have developed my reflective thought into a degree higher than before. Smith (1983, p.124 quoted by Daisy Arredondo Rucinski and Patricia A. 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So just because of their shorter insight they make wrong moral decisions which later giveRead MoreThe Impact of Information Communication Technology on Malaysia Communication Cultur e in the Era of Globalization7293 Words   |  30 PagesCommunication Technology (ICT) revolution in the late 1990s. The plethora of technology proliferation happens in a structured progression, one after another. Technological improvements began to tangibly influence our way of life. Today, even primary schools are equipped with ICT teaching tools (i.e. laptops LCDs). Nevertheless, ICT plays as a key enabler of globalization that changes Malaysian public life in a big way. In fact, after the September 11, 2001 tragedy, ICT in this country has becomeRead MoreBusiness Process Reengineering and Human Resource Management6517 Words   |  27 Pagesmultidisciplinary teamworking. 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Perhaps you would care to try some business process reengineeringRead MoreHealth: Sociology and Social Care9095 Words   |  37 Pagesable to explore how communication skills are used in health and social care 2 Understand how various factors influence the communication process in health and social care 3 Be able to explore the use of information and communication technology (ICT) in health and social care.   UNIT CONTENT 1 Be able to explore how communication skills are used in health and social care Relevant theories: humanistic, behaviourist, cognitive, psychoanalytical Techniques and purposes: techniques eg written

Behind Subsidiaries Holding Parents Liable â€Myassignmenthelp.Com

Question: Discuss About The Behind Subsidiaries Holding Parents Liable? Answer: Introduction The company form of business structure has been given the status of separate legal entity, which is amongst the key features of this form of business structure. As per the separate legal entity concept, the companies are treated as a separate person from the ones who are supposed to run the affairs of the company (French et al. 2016). There have been numerous case laws where this concept has been applied but the case where this concept was born was that of Salomon v A Salomon And Co Ltd [1897] AC 22. The Corporations Act, 2001 (Cth), which is the act which governs the affairs of the company, also contains provisions regarding this status of the companies. In the following parts, a discussion has been carried whereby this very concept, particularly in context of Australia has been elucidated. Companies as Artificial Legal Person As was stated in the introductory segment, one of the characteristics of a company form of business structure is that a company is deemed as a separate artificial legal person. This is amongst the leading reasons for the popularity of company form of business structure (Abbott, Pendlebury and Wardman, 2007). As per this concept, the company has an existence in the eye of law where it is treated separately from the members and management of such company. Also, the choice of the name of company is always restricted as one name can only be given to one company. This name helps the company in making a case against others and even to others, in making a case against the company (Latimer, 2012). Also, owing to this artificial legal person status, even though a company is deemed as a person but the artificial segment of it gives it perpetual existence. So, the death of the management or directors does not mean the end of the company, effectively giving the company, an everlasting life (Kerr, 2014). A company does end, but only through liquidation, winding up, or an order of the court. As a result of this separate status of the company, for the debts of the company, the shareholders cannot be sued. They can only be asked to pay such sum of money, which is unpaid on their shares. Hence, the personal assets of the individual cannot be claimed upon by creditors in case the company fails to repay their debts (Gibson and Fraser, 2014). In Salomon v A Salomon And Co Ltd the House of Lords affirmed the concept that once a company is incorporated, it is deemed as a legal entity and it is separate from its shareholders. In the quoted case, the company was given a corporate personality whereby the creditors of the insolvent company could not sue the shareholders of the company for paying up the pending dues of the company. In this case, Salomon had incorporated the limited company for his long standing personal business where he was a shoe manufacturer. All of the shares were held by him and he had attained debentures upon the transfer of his former business to this incorporated company (Kershaw, 2012). Upon the failure of the company, the liquidator of the company made a contention that these floating charges should not be honoured, along with the contention to hold Salomon liable for the debts of the company, which led to Salomon making a case against them. The court held that the company had been incorporated in a proper manner and so, the court was not required to speculate upon the exorbitances and motives of the companys incorporation. Just because the shares of the company were held by a single person, did not change the fact that the company was separate person in law and was distinctive from the individuals who directed its will and mind. The court stated that the corporate veil of the company could only be lifted when there was an extraordinary case (Swarb, 2017). This is not the only case where the concept of separate legal entity was upheld by the court. Another leading matter in this regard is the case of Lee v Lee's Air Farming [1961] AC 12 in which in the company, Lee held all of the issued capital save for one share which the attorney of Lee held. The affairs of the company were effectively under his control. While he was on the job, he was killed and his widow made a claim for claiming the workers compensation, based on him being a worker. However, the New Zealand Court of Appeal rejected this claim based on the notion that Lee had effective control over the company but was not its employee. Upon the appeal being made to the Privy Council, the Council made inference from the case of Salomon and stated that the individual could work in dual capacity. In short, the Privy Council stated that the company is a separate legal entity and so, the shareholder and directors who enter a contract with the company, would be deemed as an employee of the company (Bourne, 2016). The Corporations Act, 2001 affirmed the stand on company being an artificial separate person. Under section 119 of the Corporations Act, the company comes into existence, on the very day on which it is registered, as a body corporate. And upon its formation, the company is to be deemed as a separate person, which carries on the operations of the company, which includes getting into the contractual obligations (Federal Register of Legislation, 2017). Section 198A(1) of this act provides that the companys business has to be managed as per the directions of the directors of the company. Section 198A(2) of this act covers that the powers can be exercised by the directors, which relate to the company (WIPO, 2015). This shows that the directors have only been given the power to run the affairs of the company on behalf of the company and not on their free will, which shows that the affairs of the company are run as per the will and mind of the directors but for the company, as per the objec tives of the company (Cassidy, 2006). Even though the artificial legal person status has been embedded in the Australian companies, along with the companies of thee other world, with changing time, this concept has also grown. This is with particular reference to the identification of where the affairs of the company have been conducted in a manner which requires the separate legal entity concept to be upheld and where there is a need to pierce the corporate veil (Bonomelli, 2014). With the advancements of this age, and the growing minds of the individuals, the case laws where this concept is effectively used, is being manipulated and at times, the theme of holding the company as an artificial legal person proves to be a costly affair for the different stakeholders. The leading example of this is the use of this concept in an unfair manner in the different cases associated with James Hardie Industries Limited, for instance ASIC v Macdonald (No. 11) [2009] NSWSC 287 and Peter James Shafron v Australian Securities and Investments Commission (2012) HCA 18; 286 ALR 612 (Norton Rose Fulbright, 2012). Even though the key management personal associated with this company were penalized and even disqualified, it does raise a question on the time delay which is taken from an incident occurring, to the relevant individuals being punished. The future of company law thus has to change to cope up with this misuse of the company being an artificial legal person, where they use this artificial legal person to their benefit and where the piercing of corporate veil takes a lot of time to be effective. This makes it very clear that the present day law, even though punishes the ones who are responsible for misusing this status, need to be more stringent and stricte r so that the wrongdoers think twice about misusing the artificial legal person status. Particularly, the penalties which can be imparted to the wrongdoers need to be raised as these were formed years ago. Hence, there is a need to raise the maximum amount of pecuniary penalty which can be awarded in such cases so that the individuals have to face a higher penalty which actually puts a hole in their pocket as the present penalties are just not sufficient in this regard. Conclusion To conclude the discussion carried above, the companies are deemed as artificial legal person as a result of which, the companies are treated separately from the director and the other key personnel who run the business of the company on the behalf of the company. There have been not one, but different case laws in which this concept has been upheld but Salomon was the key case where this concept was upheld and which have been quoted time and again. The Corporations Act also upholds this status of the companies and the companies are deemed as artificial separate legal person upon the registration of the company. However, the present day corporate law falls short of stopping the individuals from misusing the corporate status of the companies for their own personal use. This highlights the need for a change to be brought in the corporate law so as to raise the maximum limits of pecuniary penalty which can be awarded to the wrongdoer. References Abbott, K., Pendlebury, N., and Wardman, K. (2007) Business Law. 8th ed. London: Thomson. Bonomelli, M. (2014) Wholly-owned subsidiaries: same same but different. [Online] Lexology. Available from: https://www.lexology.com/library/detail.aspx?g=90cc6c72-de1a-4ba7-91d0-7cd7a798c5ed [Accessed on: 25/09/17] Bourne, N. (2012) Bourne on Company Law. 7th ed. Oxon: Routledge. Cassidy, J. (2006) Concise Corporations Law. 5th ed. NSW: The Federation Press. Federal Register of Legislation. (2017) Corporations Act 2001. [Online] Federal Register of Legislation. Available from: https://www.legislation.gov.au/Details/C2013C00605 [Accessed on: 25/09/17] French, D., Mayson, S., and Ryan, C. (2014) Mayson, French Ryan on Company Law. 31st ed. Oxford: Oxford University Press. Gibson, A., and Fraser, D. (2014) Business Law 2014. 8th ed. Melbourne: Pearson Education Australia. Kerr, D. (2014) Hiding Behind Subsidiaries: Holding Parents Liable. [Online] The GULS Law Review. Available from: https://www.gulawreview.org/entries/commercial/hiding-behind-subsidiaries-holding-parents-liable [Accessed on: 25/09/17] Kershaw, D. (2012) Company Law in Context: Text and Materials. 2nd ed. Oxford: Oxford University Press. Latimer, P. (2012) Australian Business Law 2012. 31st ed. Sydney, NSW: CCH Australia Limited. Norton Rose Fulbright. (2012) The James Hardie Decisions: Australian Securities Investments Commission v Hellicar Ors [2012] HCA17; Shafron v Australian Securities Investments Commission [2012] HCA 18. [Online] Norton Rose Fulbright. Available from: https://www.nortonrosefulbright.com/knowledge/publications/66582/the-james-hardie-decisions-australian-securities-investments-commission-v-hellicar-ors-hca17-shaf [Accessed on: 25/09/17] Swarb. (2017) Salomon v A Salomon and Company Ltd: HL 16 Nov 1896. [Online] Swarb. Available from: https://swarb.co.uk/salomon-v-a-salomon-and-company-ltd-hl-16-nov-1896/ [Accessed on: 25/09/17] WIPO. (2015) Corporations Act 2001. [Online] WIPO. Available from: https://www.wipo.int/wipolex/en/text.jsp?file_id=370817 [Accessed on: 25/09/17]

Artificial Vs. Natural In A Seperate Peace Essays -

Artificial vs. Natural in A Seperate Peace Artificial vs. Natural in A Seperate Peace Someone once said that being yourself, being who you are, is a successful rebellion. Gene Forrester, one of the main characters in John Knowles's novel, A Separate Peace should have taken this advice. Throughout the novel, Gene acted artificially, disguising his true self. He lived in fear of people finding out what he was really like. Phineas, Gene's best friend and the other main character in this novel, on the other hand, acted naturally around people. He was not afraid of people seeing who he really was. In John Knowles's novel, A Separate Peace, Gene acted artificially, while Phineas acted naturally. To begin with, Gene Forrester acted artificially. There are several instances throughout the novel where Gene disguises himself or is influenced by artificial things. Towards the beginning of the novel Gene tells the reader that he was a half inch taller than Finny ("I had been claiming five feet nine inches before he became my roommate..." (Gene Pg. 8) and that Finny weighed ten pounds more than he did. "He weighed a hundred and fifty pounds, a galling ten pounds more than I did..." (Gene Pg. 8) Because Gene mentioned those facts, the reader can tell that even having a slight height and weight advantage or disadvantage to Finny were important to him. What people, especially Finny, thought about him worried him. "...I would have lost face with Phineas, and that would have been unthinkable." (Gene Pg. 26) Later in the novel, when Finny wanted to wear a pink shirt to school, Gene told him it would make him look like a "fairy". "Pink! It makes you look like a fairy!' (Gene Pg. 17) Gene knew that people might question Finny's masculinity and ridicule him so he spoke up. Gene would have never taken such a risk as wearing a pink shirt because it was not socially acceptable at Devon School. This again points out Gene's obsession with what people thought of him. Gene had a cautious, competitive nature and let grades and trying to outdo Finny run his life. When Finny broke the school's swimming record, Gene did not understand why he did not want people to know about it. "The worst thing is that there weren't any witnesses. Tomorrow. We'll get the coach here, and all the official timekeepers, and I'll call up the Devonian and send a reporter and a photographer-...Not say anything about it! When you broke the school record!" (Gene Pg. 36) Gene would have wanted awards and praise for breaking a school record which shows again how highly he values artificial things. Grades also played an important part in Gene's life and he measured himself by what his class rank was. He pretended to not care about his studies, but Finny saw right through him. "Don't give me that line...You want to be head of the class, valedictorian, so you can make a speech on Graduation Day...I know you." (Finny Pg. 43) Later on, Finny convinces Gene to go to the beach with him. While Finny runs and frolics in the water, having a good time, enjoying nature, Gene only worries about what time it is and whether he will be able to pass his exam. "I looked at the sky and the ocean and knew it was around six-thirty. The ride back to Devon would take three hours at least. My important test, trigonometry, was going to be held at ten o'clock." (Gene Pg. 42) This is just another example of how time, schedules, and grades play an important part in Gene's life. While at the beach, Finny tells Gene that he is his "best pal". Gene does not reply and tell him that he is his best pal, but instead, keeps quiet. Instead of being completely honest and open with Finny, Gene chooses to mask his true emotions. He knew if someone ever found out about him saying something like that, that it would be "the next thing to suicide". (Gene Pg. 40) This obsession with grades and other unnatural things leads Gene to believe that there is an intense competition going on between himself and Finny. He convinces himself that they are "even in enmity". (Gene Pg. 46) He feels nervous about all the influence Finny has over him and is suspicious about Finny always taking him away from his studies. "Finny had deliberately set out to ruin my studies...it was all cold trickery, it was all calculated, it was all enmity." (Gene Pg. 45) From that point

Eamon de Valera essays

Eamon de Valera essays Eamon de Valera, although born in New York City, in the United States of America, devoted his life to help the people of Ireland. As he once said it, If I wish to know what the Irish want, I look into my own heart. De Valera loved Ireland and its people with a deep and lasting passion. It was he, probably more than any other person in their history, who helped that country win freedom from British rule and then shaped its history well into the twentieth century. De Valeras mother, Catherine Coll, usually known as Kate, came to the states in 1879, at the young age of twenty-three. Like so many other Irish immigrants of that time, she had suffered from poverty, and even hunger, in her native land and saw America as a place where she could go to try and get a fresh start. She first took a job with a wealthy French family that was living in Manhattan. This is where and when she met Vivion Juan de Valera. He was a Spanish sculptor who came to the home of her employers to give music lessons to the children. In 1881, the couple married. A little over a year later, while living at 61 east 41st Street, Kate Coll de Valera gave birth to the couples only child. His name was Edward, called by Eddie at first, but would become known to the world by the Irish variation of that name, Eamon. Always in poor health, Vivion de Valera left his young family behind him and traveled to Colorado, hoping that perhaps the healthier air would help him out. Within a few months he died. Now a widow, Kate went back to work, leaving Eamon in the care of another woman who also had come from the tiny village of Bruree, in County Limerick. Later in his life, Eamon would remember occasional visits from, as he knew her, a woman in black, which ended up being his true mother. Kate de Valera decided that Eamon would be better cared for by her family back in Ireland. Before long he found himself away from noise of Man...

Case study Example | Topics and Well Written Essays - 500 words - 4

Case Study Example Hence the only available option is $1250 thousand dollars. 5. The formula to calculate terminal value using the perpetuity method is given as: FCFn X (1+g) / WACC –g, where FCFn is the FCF for the last 12 months of the projection period, g is the perpetuity growth rate and WACC is the weighted average cost of capital. Using this formula, 6. Total interest expense from 1971 to 1976, based upon Exhibit 7 equals 3049 thousand. The actual Interest tax shield (interest expense X tax rate) in a given year equals the minimum of the calculated Its and the projected taxes before the ITS is applied. ITS for each year is thus given as follows: 7. The Adjusted Present Value method may be calculated as the sum of the FCFs discounted by the cost of the assets plus the interest tax shields which are discounted at the cost of debt. The present enterprise value of the corporation for 1971: The free cash flow available in 1971 is $726 thousand. The terminal value is $10,010. Therefore, the sum of PCF and TV is 10726. The interest tax shield available in 1971 is $99372; hence the present adjusted value of the enterprise is $10825372 or about $10 million. 8. Since the investors are prepared to provide $4750 thousand at the rate of 9%, the interest payable amounts to $2,137,500. In order to ensure that the investors are motivated to offer the large amount of capital, the company needs to make sure that they are allowed purchase at least 6 million shares as

Leading innovation and change Assignment Example | Topics and Well Written Essays - 3500 words

Leading innovation and change - Assignment Example Meanwhile, it will be admitted that they ways in which organisations are designed and managed that unwittingly discourage the prioritisation and promotion of innovation (Afuah, 2003). With such behaviours, the organisations are forced to acquire behaviours and practices that they wish they had less of. This paper is therefore dedicated to exploring some unhelpful behaviours and practices that militate against innovation, whiles identifying others that promote innovation. More to this, the paper will explore the role of innovation to competitive advantage as this will encourage organisations to pursue innovation. A number of models will also be considered that help in making the implementation of innovation easier. With all these areas of leading innovation and change considered, it will be possible to conclude on the overall relevance of innovation to modern companies. Howells (2005) observed that before the late 20th century, competitive advantage to companies was all about ways in which pricing models will be used by companies to attract customers over their competitors. This has however been said to change since the late 20th century where innovation has become a key word in fostering the goals of competitive advantage for organisations of all kinds, especially profit making ones (Batra et al., 2000). Tidd and Bessant (2009) stated that the real role of innovation in creating competitive advantage is that it gives different organisations the opportunity of dealing with the same context in different ways. For example, Starbuck, McDonalds and Dunkin’ will all be presented with the same context of having to sell coffee products to consumers but through the power of innovation, each of these companies may do different things that make it possible for them to gain reasonable market share. In the absence of innovation therefore,

Ethics in Intelligence Essay Example for Free

Ethics in Intelligence Essay On a clear, late summer day in September of 2001, the hectic yet peaceful lower portion of Manhattan, New York City was turned into the site of one of the largest mass murders in world history when terrorist attacks turned the once imposing World Trade Center complex to a smoking pile of debris and left thousands of Americans dead, physically and psychologically scarred for life. In the aftermath of this act of aggression, the United States, with the cooperation of allies around the world, launched intelligence collection efforts on a scale that had never before been seen. Some nations would be able to do so as they wished without regard for the privacy or rights of their people, but for a nation conceived in liberty and human rights as the US was, issues of ethics and the preservation of individual rights had to be balanced against the dire need to protect the masses from further violence. This research will focus on the ethics of intelligence collection in the US, Constitutional implications of these efforts for American citizens, and the consideration of how much liberty US citizens should be willing to sacrifice for the greater good. Ethics of Intel Collections, Means and Methods Intelligence gathering has always been an essential part of the preservation of American security, dating back to the days of the American colonies and beyond. In the late 1990s, for all of the violence brewing in other nations and the potential for domestic terrorism in the US, the intelligence gathering efforts of American officials consisted mostly of the analysis of data from the comfort of offices located in the US and some offices scattered across the globe. However, these efforts were initially proven to be weak by international terrorist acts against American military installations in other nations, and the original emergence of Osama Bin Laden as an international terrorist to be closely monitored. With such formidable enemies to consider, it became obvious that the old ways of gathering intelligence were badly in need of change, including the introduction of more field intelligence agents, enhancements to technology, better networking with other nations, and many clandestine activities. With the need to increase and improve all levels of intelligence gathering in the US, the question arises as to how far a nation like the US, which stands as a beacon of righteousness and safety in the world, will be willing to go to gain the level of security that is needed to protect American citizens at home and abroad? The child of this need emerged, known as the Department of Homeland Security, an organization which put on a public front of protection of the US in a manner that is illustrative of ethical behavior and forceful yet proper action. With the introduction of the Department, the public gained a higher level of confidence in the protection they would be receiving. However, many of the methods that were necessary, at least behind the scenes, were of the nature that the general public would frown upon at the very least, and rise up in heated protest against at worst if it were known the full extent of what the Department was forced to resort to in the interest of intelligence gathering. Among the steps that were taken, such actions as the monitoring of telephone and Internet communications, the detention of suspected terrorists and the like began to raise the issue of the appropriateness of such activities in line with the promises and obligations of the US Constitution. Constitutional Implications of United States Intel Collection on United States Citizens The war against terrorism is unlike any other war that the US has seen; fighting an enemy that does not wear a recognizable uniform or hails from any specific geographic location poses quite a challenge and makes the application of conventional warfare tactics all but impossible. Therefore, as with those conventional warfare methods, it is necessary for certain drastic measures to be taken. However, it is important to understand that there are Constitutional implications for such actions, especially in the areas of intelligence collection which require frequent intrusions into the privacy that Americans hold so dear and have fought and died to protect for hundreds of years. First, there are misconceptions about the Constitution that are necessary to point out. Specifically, there is a thin line between the investigation of criminal activity and suspected threats to national security, which of course are in and of themselves criminal but take on an added dimension when one realizes that the safety and future of the nation hangs in the balance. In the interest of national security, it is permissible for the surveillance of Americans, domestically and abroad without the obtaining of search warrants, which are usually the standard procedure when an American is being investigated as a possible criminal, under any ordinary circumstances. In this instance, permissible and acceptable are two entirely different things. While authorities may be allowed to basically spy on their fellow citizens so that the nation is protected, where does this leave those who are the target of the surveillance? The argument can fairly be made that if one is not doing anything wrong, if they are being monitored, they actually have nothing with which to be concerned. Further, if that surveillance yields information on other wrongdoers who are in fact a threat to America, the net result makes all of it worthwhile. The issue of habeas corpus also is a key element in the consideration of the rights the accused. In the past, this legal remedy, in place since the days of the Magna Carta, existed to protect the rights of the accused. Constitutionally speaking, it had been established in the early 1940s that habeas corpus would stand if: â€Å"(1) the conviction is void for lack o f personal or subject matter jurisdiction; (2) the statute defining the offense is unconstitutional, or the conviction was obtained in violation of a federal constitutional right; (3) the statute authorizing the sentence is unconstitutional, or the sentence was obtained in violation of a federal constitutional right; (4) the sentence is contrary to the applicable statute, in excess of the statutory maximum, or otherwise unauthorized by law; or (5) the conviction or the sentence is otherwise deemed subject to collateral attack. † In times of crisis, this right has been suspended in the interest of national security, and has been suspended in the age of terrorism due to the need to make terrorists who are evading capture by authorities accountable in courts of law for their crimes. This, also, however is one of those fine points of law that draw criticism and scrutiny in many cases because anytime a right is suspended, innocent people are affected and their rights are often sacrificed, albeit for the sake of the common good. A closer look at the underpinnings of the Constitution itself reveals some interesting powers that many do not realize exist. For example, the Constitution does in fact give Congress the right to make laws as necessary to allow the Constitution to function as it was intended. This right, however, is akin to a broad stroke of a paintbrush, when the finer details of the stroke are really where the beauty lies. In other words, on the surface, it is true that Congress possesses such power, but this is also a power that is open to interpretation and debate. Where one draws the line between permissible monitoring and the trampling of the rights of the majority is an issue with which the American people are currently wrestling and undoubtedly will continue to do so for many years to come. With this in mind, there surely must be a balance to be obtained between sacrificing for the common good and giving up everything that Americans are constitutionally guaranteed. How Much Liberty Should US Citizens Give Up Under the Notion of National Security? It has been said that liberty is something which can be gained all at once, but often is stripped away one small piece at a time, like the gradual erosion of a mighty mountain. If this is true, the question of how many small pieces the citizens of the US can give away before a landslide consumes them? After the horrible events of September 11, 2001, it became readily apparent that there was a need for American governmental agencies to gather additional power if they were to properly mount an offensive against terrorism and to avert a repeat of the horrible events of that tragic day. This need to gather additional power was viewed by many as a feeble excuse for those within the government who craved power to grab as much as they wished, regardless of the inevitable fallout. Still others saw the sacrifice of a small amount of liberty as the necessary toll that needed to be paid for a much larger amount of overall protection and the long-term survival of the US while others around the world plotted to destroy the most powerful nation on earth. Again, however, as was mentioned at the beginning of this passage, small surrenders can sometimes lead to large damage over a period of time.

Beating Murphys Law :: GCSE Business Marketing Coursework

Beating Murphys Law This article deals with the topic of how organizations should go about implementing new technology systems. The article is built around Murphy's Law that, "Whatever can go wrong, will." When organizations implement new system a lot of know problems cannot be avoided and unforeseen problems arise with even grater frequency. Chew outlines seven points to help launch a new system with greater success since they are essential for long-term survival. Key Notes: Â · It is estimated 50 to 70 percent of US firms experience failure in implementing advanced manufacturing technology. Â · New technologies often cause drops in productivity following introduction of new equipment that can exceed the price of the technology. This still occurs with incremental purchases of new inexpensive equipment. Â · Performance tends to drop shortly prior to installation, as firms make ready for new systems. Performance drops can last over a year after the introduction of new equipment. Â · The greatest cost stem from mismatches between the new technology 's capabilities and needs, and existing process and organization. Â · Lack of the different required knowledge about new technologies causes the failures and problems that arise. Solutions to problems usually lead to additional problems due to a lack of knowledge. Â · Rule #1 is Think of Implementation as R&D. Acquisition should instead be considered an ongoing process of data gathering and learning that evolves over time. The introduction of technology should be considered less an investment issue or technical issue and more a question of research design. Technical and organizational concerns should be addressed. The user and technology managers should work together in research of new technologies. Â · Rule #2 is Ask "What made it hard?" Not "How well did it work?" Firms should look to outside experience to not only help them decide what new technologies to invest in but also how to avoid the problems that arose from the technology. Inquiry should be an active even aggressive targeted search for information. Â · Rule #3 Learn in Many Ways at Once. Firms can learn through four methods: vicarious, learning from others experience, simulation, using models and experiments, prototyping, building and operating on a smaller scale, and on-line, examining the

Nike Financial Statement

NIKE, INC. CONSOLIDATED STATEMENTS OF INCOME Year Ended May 31, 2001 2000 1999 (in millions, except per share data) RevenuesIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Costs and expenses:Cost of sales IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Selling and administrative IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Interest expense (Notes 4 and 5) IIIIIIIIIIIIIIIIIIIIIIIIIIIII Other income/expense, net (Notes 1, 10 and 11) IIIIIIIIIIIIIIII Restructuring charge, net (Note 13)IIIIIIIIIIIIIIIIIIIIIIIIIII Total costs and expenses IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income before income taxes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes (Note 6) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Net income IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Basic earnings per common share (Notes 1 and 9) IIIIIIIIIIIIIIII Diluted earnings per common share (Notes 1 and 9)IIIIIIIIIIIIIII $9,488. 8 $8,995. 1 $8,776. 9 5,784. 9 2,689. 7 58. 7 34. 2 (. 1) 8,567. 4 921. 4 331. 7 $ 589. 7 $ 2. 18 $ 2. 16 5,403. 8 2,606. 4 45. 0 23. 2 (2. 5) 8,075. 9 919. 2 340. 1 $ 579. 1 $ 2. 10 $ 2. 07 5,493. 5 2,426. 6 44. 1 21. 5 45. 1 8,030. 8 746. 1 294. 7 $ 451. 4 $ 1. 59 $ 1. 57 The accompanying notes to consolidated Nnancial statements are an integral part of this statement. 24 NIKE, INC. CONSOLIDATED BALANCE SHEETS ASSETS May 31, 2001 2000 (in millions) Current Assets: Cash and equivalents IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accounts receivable, less allowance for doubtful accounts of $72. 1 and $65. IIII Inventories (Note 2) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Deferred income taxes (Notes 1 and 6) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Prepaid expenses (Note 1) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total current assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Property, plant and equipment, net (Note 3)IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IdentiNable intangible assets and goodwill, net (Note 1) IIIIIIIIIIIIIIIIIIIIIII Deferred income tax es and other assets (Notes 1 and 6)IIIIIIIIIIIIIIIIIIIIIII Total assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII $ 304. 0 1,621. 4 1,424. 1 113. 3 162. 5 3,625. 3 1,618. 8 397. 3 178. 2 $5,819. 6 $ 254. 3 1,569. 4 1,446. 0 111. 5 215. 2 3,596. 4 1,583. 4 410. 9 266. 2 $5,856. 9 $ $ 0. 2 2. 6 459. 4 (9. 9) (152. 1) 3,194. 3 3,494. 5 $5,819. 6 0. 2 2. 6 369. 0 (11. 7) (111. 1) 2,887. 0 3,136. 0 $5,856. 9 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities:Current portion of long-term debt (Note 5) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Notes payable (Note 4) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accounts payable (Note 4) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accrued liabilities IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total current liabilities IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Long-term debt (Notes 5 and 14)IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Deferred inc ome taxes and other liabilities (Notes 1 and 6) IIIIIIIIIIIIIIIIIIII Commitments and contingencies (Notes 12 and 15) IIIIIIIIIIIIIIIIIIIIIIIIII Redeemable Preferred Stock (Note 7) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Shareholders' Equity: Common Stock at stated value (Note 8): Class A convertible I 99. 1 and 99. shares outstandingIIIIIIIIIIIIIIIIIIII Class B I 169. 5 and 170. 4 shares outstandingIIIIIIIIIIIIIIIIIIIIIIIIIIII Capital in excess of stated value IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Unearned stock compensation IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accumulated other comprehensive incomeIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Retained earningsIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total shareholders' equity IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total liabilities and shareholders' equity IIIIIIIIIIIIIIIIIIIIIIIIIIIII 5. 4 855. 3 432. 0 472. 1 21. 9 1,786. 7 435. 9 102. 2 I 0. 3 50. 1 924. 2 543. 8 621. 9 I 2,140. 0 470. 3 110. 3 I 0. 3The accompany ing notes to consolidated Nnancial statements are an integral part of this statement. 25 NIKE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS 2001 Cash provided (used) by operations: Net income IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income charges not aAecting cash: DepreciationIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Non-cash portion of restructuring chargeIIIIIIIIIIIIIIIIIIIIIIIII Deferred income taxes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Amortization and other IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income tax beneNt from exercise of stock options IIIIIIIIIIIIIIIIIII Changes in certain working capital components: Increase) decrease in accounts receivable IIIIIIIIIIIIIIIIIIIIIII (Increase) decrease in inventories IIIIIIIIIIIIIIIIIIIIIIIIIIIIII Decrease in other current assets and income taxes receivableIIIIIIII (Decrease) increase in accounts payable, accrued liabilities and income taxes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash provided by operati ons IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash provided (used) by investing activities: Additions to property, plant and equipmentIIIIIIIIIIIIIIIIIIIIIIIII Disposals of property, plant and equipment IIIIIIIIIIIIIIIIIIIIIIIII Increase in other assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Increase in other liabilitiesIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash used by investing activitiesIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash provided (used) by Nnancing activities:Reductions in long-term debt including current portionIIIIIIIIIIIIIII (Decrease) increase in notes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIII Proceeds from exercise of stock options IIIIIIIIIIIIIIIIIIIIIIIIIIII Repurchase of stock IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Dividends I common and preferredIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash used by Nnancing activities IIIIIIIIIIIIIIIIIIIIIIIIIIIII EAect of exchange rate changes on cash IIIIIIIIIIIIIIIIIIIIIIIIIII Net increase in cash and equivalents IIIIIIIIIIIIIIIIIIIIIIIIII Ca sh and equivalents, beginning of year IIIIIIIIIIIIIIIIIIIIIIIIIII Cash and equivalents, end of yearIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Supplemental disclosure of cash Oow information: Cash paid during the year for: Interest IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Non-cash investing and Nnancing activity:Assumption of long-term debt to acquire property, plant and equipment III Year Ended May 31, 2000 (in millions) 1999 $ 589. 7 $ 579. 1 $ 451. 4 197. 4 I 79. 8 16. 7 32. 4 188. 0 I 36. 8 35. 6 14. 9 198. 2 28. 0 37. 9 30. 6 33. 4 (141. 4) (16. 7) 78. 0 (82. 6) (311. 8) 61. 2 114. 4 214. 4 24. 2 (179. 4) 656. 5 178. 4 699. 6 (191. 1) 941. 4 (317. 6) 12. 7 (42. 5) 5. 1 (342. 3) (419. 9) 25. 3 (51. 3) 5. 9 (440. 0) (384. 1) 27. 2 (60. 8) 1. 2 (416. 5) (50. 3) (68. 9) 56. 0 (157. 0) (129. 7) (349. 9) 85. 4 49. 7 254. 3 $ 304. 0 (1. 7) 505. 1 23. 9 (646. 3) (133. 1) (252. 1) 48. 7 56. 2 198. 1 $ 254. 3 (1. 5) (61. 0) 54. 4 (299. 8) (136. 2) (444. 1) 8. 7 89. 5 108. 6 $ 198. 1 $ $ $ 68. 5 173. 1I 45. 0 221. 1 47. 1 231. 9 $ 108. 9 The accompanying notes to consolidated Nnancial statements are an integral part of this statement. 26 I NIKE, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Common Stock Class A Class B Shares Amount Shares Amount Balance at May 31, 1998 IIIIIIIIIIIII Stock options exercised IIIIIIIIIIIIIII Conversion to Class B Common Stock II Repurchase of Class B Common StockII Dividends on Common Stock IIIIIIIIII Comprehensive income: Net income IIIIIIIIIIIIIIIIIIIIIII Foreign currency translation (net of tax expense of $0. 4)IIIIIIIIIIIIII Comprehensive income IIIIIIIIIIIIIII Balance at May 31, 1999 IIIIIIIIIIIIIStock options exercised IIIIIIIIIIIIIII Conversion to Class B Common Stock II Repurchase of Class B Common StockII Dividends on Common stock IIIIIIIIII Issuance of shares to employees IIIIIIII Amortization of unearned compensation IIIIIIIIIIIIIIIIIIIII Comprehensive income: Net income IIIIIIIIIIIIIIIIIIIIIII Foreign currency translation (net of tax expense of $1. 2)IIIIIIIIIIIIII Comprehensive income IIIIIIIIIIIIIII Balance at May 31, 2000 IIIIIIIIIIIII Stock options exercised IIIIIIIIIIIIIII Conversion to Class B Common Stock II Repurchase of Class B Common StockII Dividends on Common Stock IIIIIIIIII Issuance of shares to employees IIIIIIIIAmortization of unearned compensation IIIIIIIIIIIIIIIIIIIII Forfeiture of shares from employees IIII Comprehensive income: Net income IIIIIIIIIIIIIIIIIIIIIII Foreign currency translation and other (net of tax beneNt of $0. 2) IIIIIIII Comprehensive income IIIIIIIIIIIIIII Balance at May 31, 2001 IIIIIIIIIIIII 101. 5 $0. 2 (0. 8) 185. 5 2. 7 0. 8 (7. 4) $ 2. 7 Capital in Excess of Unearned Stated Stock Value Compensation (in millions) $262. 5 80. 5 $ I Accumulated Other Comprehensive Income Retained Earnings $ (47. 2) $3,043. 4 $3,261. 6 80. 5 0. 2 (1. 5) 181. 6 1. 3 1. 5 (14. 5) 2. 7 334. 1 38. 7 (0. 1) (292 . 7) (135. 6) (17. 3) 0. 5 13. 5 I (21. ) (21. 7) (68. 9) (301. 6) (135. 6) 451. 4 100. 7 (8. 9) Total 451. 4 451. 4 3,066. 5 (627. 1) (131. 5) (13. 5) 1. 8 0. 2 (0. 1) 170. 4 2. 9 0. 1 (4. 0) 2. 6 369. 0 91. 0 (11. 7) (42. 2) (42. 2) (111. 1) (4. 8) 0. 1 6. 7 (6. 7) (2. 5) 7. 3 1. 2 (42. 2) 536. 9 3,136. 0 91. 0 I (152. 2) (157. 0) (129. 6) (129. 6) I (0. 6) $0. 2 169. 5 $ 2. 6 $459. 4 $ (9. 9) (41. 0) (41. 0) $(152. 1) 589. 7 $3,194. 3 The accompanying notes to consolidated Nnancial statements are an integral part of this statement. 27 579. 1 579. 1 2,887. 0 589. 7 99. 1 (644. 5) (131. 5) I 1. 8 579. 1 99. 2 (21. 7) 429. 7 3,334. 6 38. 7 7. 3 (1. 9) 589. 7 (41. 0) 548. 7 $3,494. 5

Mundell Flaming Model - 2973 Words

8. Mundell-Fleming Model with a Floating Exchange Rate (No handout; chapter 13) What is the Mundell-Fleming model? In an open economy with external trade and financial transactions, how are the key macrovariables (GDP, inflation, balance of payments, exchange rates, interest rates, etc) determined and interact with each other? What are the effects of fiscal and monetary policies? The Mundell-Fleming model is the standard open macroeconomic model that tries to answer these questions. Most open macro economy models in the textbooks are variations of the Mundell-Fleming model. Theoretically, it is the most popular model. But its applicability to actual policy making is not as high as we would hope (especially for developing and transition†¦show more content†¦It is downward-sloping in the (i, Y) plane. Moreover, a rise in q (real depreciation) or a rise in G (government spending) shifts the IS curve up and to the right. Aggregate demand - LM curve The LM curve is the same as in the domestic macro version. It shows the condition for money market equilibrium. In particular, we ignore the possibility of currency substitution, a phenomenon where domestic citizens hold foreign currency (typically US dollar) as well as domestic currency, and change their relative shares as circumstances change. No currency substitution is a reasonable assumption in developed countries, where people hold only domestic currency. But in many developing countries, currency substitution may be a big factor that influences the money demand. Currency substitution is also called dollarization. But dollarization has two meanings: (1) the situation where people use dollars in addition to domestic currency, because they do not trust the latter (in this case, the monetary authority usually tries to prevent the use of dollar); (2) the situation where the government declares that the national currency is the US dollar, abolishes the central bank, and gives up independent monetary policy. Currency substitution is equivalent