Business Financing and the Capital Structure Research Paper

Business Financing and the Capital Structure - Research Paper Example Concept of working capital management Working capital management is fundamentally described as a managerial technique to preserve the financial health of a company in repaying its short-term debts and simultaneously, sufficing the need for short-term operating expenses. Advantages of working capital management can be viewed in terms of increased earnings of a company. Contradictorily, the conceptual framework is often criticised to offer only short-term financial planning assistances to the users. Notably, working-capital ratio and inventory-turnover ratio can be regarded as the two vital instruments to assess the viability of working capital management strategies applied by a company (Rehn, 2012). Financial instruments that are used as marketable securities to park excess cash Marketable securities are mostly favored by investors owing to their high liquidity benefits. In this regard, Treasury bills, commercial papers, bankers’ acceptances and other forms of government bonds as well as common stocks can be noted as the financial instruments used as marketable securities by investors to park excess cash (Chudson, 1945). Question 2 Selection of equities and debts to raise business capital depend on diverse factors, which mainly include the micro-economic performance of the economy and the liquidity position along with the risk taking ability of the company. Equities raise the liability of the company to repay investors, but only if the total liabilities of the company are accounted to be inferior to the assets held, i.e. when profit is obtained. Another advantage of using equities is that the interests paid by the company to its equity shareholders are accounted as an organizational expense, which further allows a certain percentage of tax leverage to the company. However, concerning the shareholders’ interests to invest in equities, various factors can be identified as disruptive (Komaromi, 2006). For instance, the purchase decision of equities of ten depends on the probability of business earning profits, and hence, investors tend to purchase equities when businesses are at their growth stage. Again, current fluctuations may also be identified to impose significant effects on the investors’ behavior towards purchasing equities. Concerning the current market scenario in the US, fluctuations can be apparently observed in the equities market, owing to its macro-economic volatility (Reuters, 2013). Therefore, a company must ensure its growth phase as well as preserve good liquidity position to market its equities and obtain adequate capital. On the other hand, debts do not involve uncertainty on the basis of investors’ decisions and behaviors. Therefore, businesses may not be required to ensure a growth phase while obtaining debts through short-term or long-term modes. It is worth mentioning in this context that although a business need not face the risk of uncertainty in capital allocation, it might require ensuri ng healthy liquidity ratio (Komaromi, 2006). Additionally, interest rate fluctuations observed in the current performance of the US may also have a negative implication for a company to opt for fund raising through debts. To be precise, the interest rates in the US are observed currently as rising and are further expected to rise in the near future, which might increase liabilities of the company deciding upon raising funds through debts (Conerly, 2013). Apparently, both the fund raising options have certain

Trusts and Equity Essay Example | Topics and Well Written Essays - 2000 words

Trusts and Equity - Essay Example Though since the Judicature Act came into force in 1875 the rules of Common Law and Equity are recognized and administered in the same court, yet they still remain distinct bodies of law, governed largely by different principles. Like the Common Law, the rules of Equity are judicial law, i.e. to find them we must look in the first instances to the decisions of the judges who have administered Equity. But some branches of Equity, like some branches of the Common Law, have been restated with amendments and additions in codifying Acts, such as the Partnership Act 1890.Meanwhile, Equity is adding new fields of jurisdiction. In the sixteenth century and the beginning of the seventeenth, fraud and accident especially the accidental loss of a document are regarded as matters peculiarly appropriate for relief in a Court of Equity matters which a Common Law Court cannot sufficiently deal with. Mortgages form a special subject, which the Chancellor deals with. A man borrows money and transfers his land to the creditor, making the creditor legally owner. He promises to pay on a definite date. If he keeps his promise, his land is to be returned to him; if not, it is to belong to the creditor forever. Suppose by mistake or accident he fails to repay on the day named, is it fair that he should be held to the terms of the deed? Equity says no and soon goes so far as to lay down a rule that a mortgage is a mere security for money, and something quite different from a genuine transfer of the ownership.... (Polloczek, 1999, p. 9) Though since the Judicature Act came into force in 1875 the rules of Common Law and Equity are recognised and administered in the same court, yet they still remain distinct bodies of law, governed largely by different principles. Like the Common Law, the rules of Equity are judicial law, i.e. to find them we must look in the first instances to the decisions of the judges who have administered Equity. But some branches of Equity, like some branches of the Common Law, have been restated with amendments and additions in codifying Acts, such as the Partnership Act 1890. (Geldart, 1995, p.21) Meanwhile Equity is adding new fields of jurisdiction. In the sixteenth century and the beginning of the seventeenth, fraud and accident especially the accidental loss of a document are regarded as matters peculiarly appropriate for relief in a Court of Equity matters which a Common Law Court cannot sufficiently deal with. Mortgages form a special subject, which the Chancellor deals with. A man borrows money and transfers his land to the creditor, making the creditor legally owner. He promises to pay on a definite date. If he keeps his promise, his land is to be returned to him; if not, it is to belong to the creditor forever. Suppose by mistake or accident he fails to repay on the day named, is it fair that he should be held to the terms of the deed Equity says no, and soon goes so far as to lay down a rule that a mortgage is a mere security for money, and something quite different from a genuine transfer of the ownership. (Geldart, 1995, p.31) We have the rules about the assignment of rights under contract. A owes money to B. Common Law regards this as purely a relation between A and B. B agrees with C that C shall have the right to

Can Robots Really Be Used For Childcare Young People Essay

Can Robots Really Be Used For Childcare Young People Essay 1. Introduction What do you think of when the word robots come to your mind? If you think they are the machines that you see in a movie or read about in a science fiction novel, think again. Robots are the largest growing technological devices in the world. They perform many functions ranging from space exploration to entertainment. According to scientist, in the future, robots will be doing our yard work, taking over some of our jobs, and monitoring our health on a daily basis. Does it sound unbelievable? This might just be the kind of world our descendents will grow up in. Its hard not to think about having our lives changed by the introduction of these new robots. As for the household aspect, computers will make our daily drudgery of housework dramatically more interesting. In the next decade robots should be cleaning our floors, mowing our lawns, and even taking care of our children while we are away at work. Robots will be an integral part of our lives. 2. What are Child-care robots? A babysitter or companion on call round the clock to supervise and entertain the kids is the dream of many working parents. Now, robot manufacturers in Japan and South Korea are racing to fulfil those parents dreams with affordable robots which will act as nannies to their children. These robots will be equipped with game playing, quizzes, speech recognition, face recognition and limited conversation to capture the preschool childs interest and attention. Their mobility and semi-autonomous function combined with facilities for visual and auditory monitoring are designed to keep the child from harm. Parents would be able to use these robots as means to keep a look out for their children while they are away at work. These robots will also be a means in which parents will communicate with their kids as the robots will be equipped with a mobile phone where parents would be able to call and speak directly to their children through the robot or send short messages which would be read out by the robot to their children. 3. Technologies involved in Child-care robots Child-care robots will be equipped with cameras for parents to be able to monitor their children at all time and to make sure that they are safe and are interacting well with the robot. There will also be a mobile phone installed into the robot for parents to keep in voice contact with their children. Other than the more visible technological elements of the robots, it is what is behind the plastic outer shell of the robot which matters. The Artificial Intelligence of these robots would be of a very high level and they will be equipped with face recognition technology and the robot will be able to form a bond with the person in which it has continually come in contact with on a daily basis. The functions that the nanny robots would be able to perform are only limited to ones imagination and as long as technology continues to improve; the boundaries of the tasks that they will be able to carry out will continually be pushed. 4. Issues Child-care robots may bring about Although child-care robots will be able to substitute the role of a parent for the time that parents are away from home, would there be any implications on the wellbeing of the child due to the presence of these robots. I will now analyze the various issues child-care robots may bring about. 4.1 Safety of children An extremely important factor for consumers is that they trust child-care robots to keep their children safe from harm. The main way that parents could ensure this is through mobile monitoring, where they can watch their children at all times. An additional way to increase supervision of their children from the office, parents would be able to upload a customized map of their homes to the robot so that it can recognize danger areas where it would try to restrict the child from going to. If the robot is programmed to identify dangerous situations, it would most probably also be programmed to take steps to avoid the child from getting into the situation. In other words, the robot would be restraining the child from committing an act deemed harmful by the robot, because of the way it was programmed, even though it would not be deemed harmful by the parent itself. Imagine a robot taking a sweet away from a child because it deems that sweets will eventually cause diabetes. Maintaining the safety of a child must be done but the robot must not be an authoritarian who stops children from expressing themselves or doing what they want to do. A line must be drawn somewhere, maybe parents would be able to program how strict their robots must be but we have to keep in mind that we cannot plan for every single scenario and program the robot in certain way. Sometimes, we must wait for a situation to arise before we will be able to see how the robot and child reacts to it. 4.2 Robot Child Relationship Another extremely important factor in the use of child-care robots is how receptive children will be to the robots as well as whether the child would be able to form a bond with the robot. Studies have shown that children from a very young age would form a very close bond to their toys. In some cases, they would not go to sleep without their favourite teddy or will not play with any other toy except for their favourite ones. Now, with the robot being able to listen and speak to them and feel their touch, children would regard their robots as their friends and they would feel that they would have formed relationships with their robots. However, the issue will arise with children whom from a very young age grow up to think that the relationship they had with their robots are genuine human relations. These children would have been drawn into the false relationship by their parents and there could possibly be harmful effects on the child either psychologically or emotionally. 4.3 Emotional Psychological Risks It is possible that children who are brought up fully or partially by the care of a robot will be affected in their social and emotional development. It is understood that a baby has a very close relationship with his/her mother when the baby is born till the baby is quite old. There will be a special emotional connection between the child and the mother and no robot would be able to substitute the mother of the child and have that same emotional relationship When the baby is brought up by its care giving robot, it would not feel the same emotional bond towards the robot and thus will not have a strong emotional feeling toward the robot which would hinder the childs emotional growth as the child grows up. Another factor which may drive the child into a shell is that robots, unlike humans, will not be able to read expressions on our faces. They rely on the tone of our voices or feel our touch. They would not be able to process tears from the childs eyes and would not be able to identify if anything is wrong and would really hurt the child emotionally as well as psychologically. 5. Conclusion The technology for a child-care robot is not very far from being achieved. Companies are working doubly hard to try to come out with a robot which will really change the face of Artificial Intelligence out there in the market today. These robots would be able to interact with humans much more than anything before. However, there are many worrying factors that point to not being over reliant on these robots if they ever do hit the shelves. I feel that robots, even though programmed to handle any scenario which it comes across in bringing up a child, will never be able to substitute the human touch aspect of bringing up a child. A human being is far more superior to a robot in bringing up a child. Even though people may argue that child-care robot will only take care of the child when parents are away at work, that period of time is enough to affect the growth of the child and being at a child care centre, interacting with other children their age as well as having someone to look after them at the centres would be more beneficial to them. No matter how many people resist the usage of the child-care robots, it would most likely be that the majority of people will see more benefits than harm in it and by using these child-care robots it would be the dawn of the time of Artificial Intelligence in households.

Roman Holiday :: essays research papers

Review: Roman Holiday Roman Holiday is a famous and important film for many reasons, probably most for introducing the world to the incomparable Audrey, here in her first major starring role, and one which won her an Academy Award. With lots chemistry, inspired direction by William Wyler, and impressive locale work, shot completely on location in Rome, this ranks as one of the best romantic comedies ever made. It's a modern-day twist on a fairy tale, where the princess wishes to be a normal young girl, rather than the other way around. Hepburn plays Princess Ann, much beloved royalty whose every move is followed by the country, and every day is completed scheduled with monotonous formalities and appearances, which have begun to grow tedious for a young woman looking to have some excitement in her life. She wants to have some fun and spontaneity in her life, so one night while she is visiting Rome, Ann makes her escape from her handlers and heads to the streets of the city, where a handsome new reporter, Joe Bradley (Peck) stumbles upon her. There appears to be no place for her to go, so Joe takes her to his apartment for the evening, but the next day he discovers he may be onto the scoop of a lifetime when he realizes that the woman in his bed is none other than the most beloved figures in the world. His plan is to entertain her while she is in town, without letting her know he is really j ust trying to get the inside info on the woman for his article, and she also hides her identity in hopes of being seen as the average girl in the free world. Perhaps the most impressive aspect of this rather old fashioned romance is how funny it actually is, while still maintaining a sense of subtlety throughout. This is not a story driven plot, but rather, a collection of charming and amusing moments that, when added up for the duration, becomes something quite substantial. The character development involved is flawless, as we grow to like, and in some senses love, the main players, thanks in large part to the terrific Academy Award winning screenplay by Dalton Trumbo here credited as Ian McLellan Hunter due to a blacklisting that forced him to write under a pseudonym. Even with the quality writing, none of this could have worked if overplayed by the director or if stars were cast who weren't as likeable, and on all fronts,

Questions and Answers about Marriage and Same-Sex Union

The two articles delve into the contemporary debate of same sex union. The first one presents the conservative orthodox view of the Catholic faith on same sex union while the second article presents an unorthodox view which is more liberal and accepting. Both article advocate a stand on the same issue and aims to spread the good news of their stand. The two articles tackle the issue of same sex union by giving their own definition of marriage.The orthodox view argues that marriage, as instituted by God, is a faithful, exclusive, lifelong union of a man and a woman joined in an intimate community of life and love and that same sex union is an altogether different thing from marriage since it does not fit the definition. They say that it is not based on the natural complementarity of male and female; it cannot cooperate with God to create new life; and the natural purpose of sexual union cannot be achieved by a same-sex union.The liberal view points otherwise saying that Marriage can b e defined as the unique and special form of committed friendship and this does not say that the persons have to be heterosexually attracted, thus people of the same sex can still be married. This contrasting view is an interesting point for further comparison and contrasting. Both authors use the bible as their authoritative source of arguments. The USCCB in sum claims that what is right is what is written in the bible, Prof.Maguire on his part claims that the bible as a historical account is not an account of what is right, it sometimes contain accounts which recommends what should not be done as depicted by the lesson of particular stories like in the stories about slavery. The liberal view purports that many Catholic theologians agree now with Protestant and Jewish theologians that same sex unions can be moral, healthy, and holy and that many Catholic people are living in same sex unions and adopting children and still practicing their Catholic faith however .While the USCCB cont inues to campaign against the equation of same sex unions to marriage and urges followers to keep their opinions in line with the teachings of their faith and of the bible. While using almost the same source, the bible and the interpretation of the word of God, both authors argue in different directions both of which does not directly rebut each other.

Predictors Of Malaria Parasite Prevalence Health Essay

Recent advancement in malaria control such as increased handiness and coverage of several intercessions, including insecticide-treated bed cyberspaces ( ITNs ) , effectual instance direction with Artemisinin-based combination therapy, indoor residuary crop-dusting of families, and intermittent preventative intervention IPT for pregnant adult females, is thought to hold reduced disease load. Targets have been set by the United Nations, the World Health Organization ( WHO ) and the Roll Back Malaria Partnership to increase coverage of control steps, cut down the figure of malaria instances and deceases by 75 % or more by 2015, and extinguish malaria in several states ( 2,4 ) . With expanded malaria control plans, several states in Africa have documented big and sustained lessenings in the load of disease ( 2 ) . In parts that have achieved low degrees of transmittal, farther malaria control and riddance will necessitate that intercessions are non merely incorporated into national contr ol plans and accepted and used by persons, but that symptomatic- and asymptomatic-infected individuals, particularly under 5 kids be identified and treated. Zambia is one of 11 states in sub-Saharan Africa that achieved a greater than 50 % decrease in the figure of malaria instances between 2000 and 2009 ( 2 ) . The prevalence of parasitemia in kids younger than five old ages of age decreased by 53 % between the malaria index studies in 2006 and 2008, except for Northern Province which is still demoing high malaria parasitaemia figures in under 5s of ( 6 ) . Among kids who are feverish, the proportion with the malaria parasites in their blood may transcend 50 % ( 1 ) while family studies among seemingly healthy kids have reported parasitemia degrees of between 10- 30 % ( 7 ) .This has deduction for diagnosing and instance direction, as undue trust on febrility and organic structure temperature lift as opposed to parasitaemia may overlook many instances of malaria which can do desperate wellness effects for the kid ( 9 ) .Apparently healthy kids in malaria endemic parts may harbour the parasite in their blood and these kids may still endure the long term sequalae of the disease such as cognitive damage and acrobatics ( 8 ) ( 9 ) . In add-on to its utility as grounds base for intervention, finding malaria parasitemia in under 5s is besides a step of malaria endemicity ( 10 ) . For these grounds it is of import to find the degree of parasitemia in any vicinity. In Zambia, malaria parasitaemia in kids under five fell from 22 % in 2006 to 10 % in 2008, but so increased once more to 17 % in 2010. The prevalence of terrible anaemia ( Hb & A ; lt ; 8g/dl ) in kids under five declined from 14 % ( 2006 ) to 4.3 % ( 2008 ) , but so up swinged once more to 9.2 % ( 2010 ) . The account for this upswing in malaria prevalence and anaemia is non clear ( Zambia National Malaria Indictor Survey 2010 ) . Furthermore, Mpika territory in Northern Province has a revealing image, showed a drastic addition from 12 % 2008 to 23.6 % 2010 in prevalence of malaria parasitaemia in kids under five ( 5 ) The load of malaria differs among different sections of the community. For case the frequence of febrility episodes and the prevalence of parasitemia vary between rural and urban countries ( 8 ) .This has been related to differences in community patterns. Whereas in urban centres, episodes of febrility are likely to be reported to public wellness Centres for intervention, in rural countries interventions are started with traditional redresss at place and wellness centres are merely consulted when the traditional redresss fail ( 9, 10 ) .Also poorness is an of import factor in malaria and the rural hapless are more likely to be nescient of preventative steps, less likely to entree prompt intervention and their kids are more likely to be ill nourished. In add-on, engendering sites for the mosquito vector are more abundant in the rural countries increasing the strength of transmittal ( 11 ) . The possible part of KAP surveies to malaria research and control has non received much attending in most Southern African states ( 12 ) . In Northern Province of Zambia, this is the first survey that will transport out to supply baseline informations about malaria related cognition, attitude and patterns among primary health professionals. Although many surveies in Tanzania and other African states have linked socio-economic and behavioural factors, community cognition, attitudes and patterns with malaria ( 13-19 ) , fewer surveies have been able to set up such a nexus between these factors and malaria epidemics. An apprehension of cognition, attitudes and patterns among primary health professionals and designation of the chief factors that influences malaria intervention and protective behaviors during epidemics is hence of import in the design and execution of appropriate malaria epidemic control schemes. Despite good cognition about malaria transmittal, marks and symptoms, interv ention and control in some surveies, this survey purpose to uncover grounds of cognition spreads about malaria by some primary health professionals in rural Mpika. A KAP survey done in Tanzania, some respondents reported that malaria is transmitted through imbibing contaminated/unboiled H2O, remaining in the Sun and working in rain. It is really surprising that in this survey and others in malaria endemic states, a important proportion of respondents associated malaria with imbibing contaminated H2O or other wrong causes. An even higher per centum of respondents gave the same responses in a survey conducted in Uganda ( 20 ) and in another similar survey in Zimbabwe ( 18 ) . Similar responses were besides reported in rural countries of West Africa ( 21-22 ) . Further, in line with two surveies in West Africa ( 20-22 ) , there was besides a failure by most respondents in Muleba territory to tie in anemia and icterus with malaria which in bend could take to failure to acknowledge malar ia instances and hence failure to seek appropriate wellness attention. With respects to steps to forestall malaria, there were perceptual experiences that ITNs are harmful to the wellness of users and more peculiarly to pregnant female parents ( 22 ) . Evidence of cognition spreads on malaria has been reported by other surveies. Winch and his co-workers found that people in Bagamoyo territory in Tanzania failed to tie in terrible malaria ( paroxysms ) in kids, terrible anemia and malaria in gestation with malaria which in bend lead to people ‘s failure to admit the full load and therefore public wellness importance of the disease in the country ( 24 ) . The cognition spreads revealed in this survey hence indicates that some people might hold opted for unsound steps of malaria control and protection and therefore contributed to the increased figure of malaria instances observed during the epidemic. In decision, these findings show that in order to accomplish the needed degrees of acceptance of malaria control measures, more accent should be placed on planing and execution of effectual wellness instruction intercessions that will turn to cognition spreads on malaria among communities and finally among primary health professionals of kids under 5 old ages of age.