Compare or Contrast

The City I Love Traveling is one of my favorite activities in life. But the sad truth is that I have only been to one other place besides my hometown Miami, Florida. My first adventure was to a small town in North Carolina called Liberty. Compared to Miami, there were many characteristics I was not familiarized with and were new to me. Among the many alterations the weather, the people, and the lifestyle were the ones that caught my attention the most, causing me to realize just how much I need to appreciate Miami.For starters, the weather in Liberty is completely opposite from what we are used to in Miami. Instead of walking outside sweating from head to toe and becoming completely sticky from the humidity, they experience what is known as dry heat. But besides that, the temperature also affects the seasons. For example, in fall, the leaves on the trees begin to change colors and fall off their branches. It's quite a sad situation because the leaves are drying out, but it's one of t he many beautiful scenes my eyes could capture.In winter, temperatures drop to freezing level and snow starts to come around. People have to wear tons of jackets and sweaters to stay warm. Unlike Miami, the weather is almost always on the same temperature dial, hot. Even in the fall, it still feels like it is summer. People go to the beaches, but never get in since water temperature may be cold because of the ocean currents. In winter, temperatures start to drop, but never to a freezing point unless a strong cold front passes by. Quite frankly, I love it in Miami because the weather is always perfect for many activities.It’s really hard to leave a beautiful place like this. The people in Liberty also caught me by surprise. I expected them to be down to earth and friendly, but I was wrong! The majority of the population included plenty of whites and Mexicans. The whites though, were very racist against African Americans, Latinos, and Mexicans. Their attitudes include nothing o f humility because they believe to be the best among all. They were really disrespectful and always looked at others as if they were an alien.In Miami, there is a variety of different people, but mostly Latinos take more than half of the population. I could truly say I feel accepted, because everyone down here usually gets along and typically treat one another equally. Most importantly the color of a human skin or of a family background does not keep you from being treated with respect, and that is one quality I would refuse to lose hold of. The lifestyle at Liberty compared to Miami was vapid. There was nothing to do since nothing was near. Stores were miles away and malls were nowhere to be seen or found.Neighbors were also far apart since people owned acres of land to grow crops or just to have to themselves. Club and lounges were also never heard of since not many people partied or went out to have a good time. Liberty was also a dry county. For instance, on Sundays, they werenà ¢â‚¬â„¢t permitted to hunt or purchase liquor from the stores or gas stations because Sundays are considered to be holy days. Even though it was peaceful and quiet, on the other hand, Miami was always awake with its beautiful beaches and party activities.Stores and malls are just around the corner and they vary. Clubs and lounges are always open even on Sundays and are found anywhere in Miami if anybody wants to have a great time. Miami lifestyle is just amazing and never can get boring and lame. I can always find something to do and somewhere to go to be with friends or even with the family. Even though visiting Liberty was nice, there's no doubt that Miami is the greatest place to live in or visit if you're from another country or state.The weather, people, and lifestyle are far from being alike, but not every state or country is the same. I liked Liberty, but Miami is the place I love as the weather is amazing, the people are respectful, and the lifestyle is full of entertainment . Miami is definitely a great place to have a fun time, but if you want to be in peace and independent then maybe you want to visit Liberty. I would definitely think twice about going to Liberty again. Miami is the place I rather be at and never would leave again unless another city is the same.

Hk and Mainland Chinese Generation Changes

HK and Mainland Chinese Generation Changes Introduction: Since Hong Kong return to China, there always have some comparison between Hong Kong and Mainland China. In this essay, I would like to talk about the generation changes in both Hong Kong and Mainland China and make the comparison. HK: (1976~1990) Historical background: The fourth generation of Hong Kongers is the children of the second generation, they live in plenty and unlikely to worry about their conditions. Growth environment and current situation of the fourth generation: They growth up in affluent circumstances, but this kind of environment is not equal to happiness.They need to face the competition earlier than their parents, grandparents. What is it like to be a good fourth generation of Hongkongais? He/she need do much better than others even form kindergarten, because there is no circumstance for the late developers. The loser will be wash out by the society. The difference between the fourth generation and previous generation is they always under surveillance from their parents. The second generation comes through the spoon-fed education, so they do not want their children come through again.But on the other hand, they still want their children can well prepare for the competition. Therefore, they show too much attention to their children. Lui Tai-lok said, to the fourth generation, personality is a luxury. They really hardly to find their own personalities. For example, we blindly denounce CantoPop for Euro-American pop; and blindly loves the film by a Western director – any Western director; and blindly denounce packaged tour to Japan for a shopping trip organized ourselves; and blindly denounce our ellow shoppers, our fellow schoolmates, our fellow CantoPop fans, and our fellow quantitatively-manufactured fourth generation Hongkongais, by means of using different goods and products, instead of having different mind-set. Besides, we seldom have chances to present our opinions. The ad ult always make the conclusion replace the fourth generations. They think they have more social activities than us; their decision must be more perfect than us. Under that social environment, it is really hard in finding personality. China: (1979~1990) Historical background:This generation called â€Å"little emperors† was born after 1979 when China began to promote the one-child family planning policy. Also, it was a period that â€Å"Culture Revolution† ended and â€Å"reform and opening up policy† started. Chinese economic start taken-off. Growth environment and current situation of the â€Å"little emperors†: Under the â€Å"one-child† policy in Mainland China, which was implemented in the late 1970s, instigated a new phenomenon in families: 4-2-1, which means four grandparents, two parents to bring up the only child in the family, and this is the standard family structure for â€Å"little emperors†.This generation called â€Å"litter e mperors† that is spoiled by eldership and they are the center in the whole family. They can get whatever he likes and avoid whatever he dislikes.? It has been a common practice that the parents have to obey their child’s â€Å"order†.? As a result, the spoiled child becomes the â€Å"little emperor† who rules the whole family. That gives them a sense of self importance and entitlement, which is the origin of the term â€Å"little emperor†. Also they are the crucial market vanguard that they can increase Chinese economic clout and lead to enhanced spending power.The first generation of little emperors are now in their twenties, so the self-indulgent consumerism has expanded from children's products into luxury goods, and this has been a driving force behind the rapid expansion of the luxury goods industry in recent years. From a young age, parents want to let their single children to be the best in their classes. Even toys, games, DVDs, video games a nd TV shows are more likely to be marketable if they have an educational edge. On the other hand, the little emperors have become the conduit to come true all their families hope and dreams.Some of them are the rebel against to the social rule. Since they were young, they are force-fed to study hard and education by rote memorization. The sentence â€Å"good good study, day day up†, which said by Chairman Mao Zedong is be hung on the wall in each of the classroom. Their parents impose their own dream and interests to them. Therefore, make them disgusted with what parents said, they want to be difference with the previous generation, contend for their own fate. Han Han’s phenomenon† is such an educational phenomenon, but also a phenomenon of a diverse value orientation culture and dare to rebel and innovative social. â€Å"Han Han’s phenomenon† is named from Han Han, who is a professional rally driver, blogger, writer and singer and he is also involv ed in music production. He is really an inferior student when he was in school because he cannot get high grades in exam. In his first year of high school, he won the first prize in China's New Concept Writing Competition with his essay on the Chinese national character.But he fell seven subjects at the year-end examination. This incident was reported in the media and ignited a heated debate on China's â€Å"quality education† policy, whether holistic or specialized learning should be implemented in schools, and other educational issues. Han Han quit school in the senior middle school 2nd year, and worked on a series of essays, which always occupy the highest Sales Volume. Besides, he is one of the best rally drivers in China. Han Han is good at almost everything except study.Han Han’s phenomenon became a hot issue and cause controversy between some public characters. The traditional view and standard of an all-around person are queried. Also, the bad impression to thi s generation is changed. They are not merely â€Å"little emperors†, but also can be the strong people in life. They are generally called â€Å"after-eighty generation†, because most of them were born after 1980. But several pundits would like to call them as â€Å"the Beat Generation† as they know only comfort and ease; they cannot responsible to the society.Therefore, they are the most controversial and special generation during the Chinese history. Similarities of the fourth generation in HK and Mainland China: Either fourth generation or â€Å"little emperors†, they are both under the surveillance from their parents, they have high ambitions to come true their own dream rather than their parents’ dream. Dissimilarities of the fourth generation in HK and Mainland China: For â€Å"little emperors†, only part of them wants to contend for their own fate, the person who does not want to establish their own life, they can live with parents coz ily.But for the fourth generation, they have to compete with others, because the main trend is powerful to persuade them walk on the road which adults believed. Therefore, the fourth generation in Hong Kong misses the first and second generations simply because they have the knowledge and ability like the fourth generation, plus they have the dream, the commitment, the passion and the willingness to give their dreams the highest priority, and many great values that were not discarded. Conclusion:Whatever the fourth generation or the â€Å"little emperors†, both of them have the highest profile, they have to face the pressure from the previous generation, so that they should make more effort on increasing their value of life.Reference:http://zh-yue. wikipedia. org/wiki/%E5%9B%9B%E4%BB%A3%E9%A6%99%E6%B8%AF%E4%BA%BA Lui Tai-lok , 2007 Deane, Daniela, One world, Many cultures. 7th edition. 2009 Stanat, Michael. China’s GenarationY.

Marriott Corporation Essay

Each of these aspects of the financial strategy support Marriott’s growth objective, except for the repurchasing of undervalued shares, which is not based on feeling of significant undervaluing of the stock by the market, but based on an internally generated intrinsic value of the company. Marriott’s cost of capital estimation process involves consideration of debt capacity, cost of debt and cost of equity. This data, plus consideration of capital structure and effective tax rate, is then applied to the Capital Asset Pricing Model, using the U.S. Government 10-year bond as the risk-free rate and the spread between the S&P 500 composite and the U.S. Government 10-year bond rate. Beta is based on the last five years of monthly return data. The resulting corporate WACC is 10.22%. However, new investments in the different divisions requires the application of a hurdle rate that reflects the business risk of that particular unit, rather than the overall   corporate hurdle rate, which is primarily applicable to corporate capital expenditures, such as headquarters and IT support systems. The table below summarizes the WACC for each Marriott division based on its mix fixed and floating rate debt, capital structure, and applicable unlevered beta for its industry. Introduction Marriott Corporation is diversified company in the lodging, restaurant and contract services. Its lodging business unit consisted of managing the operation of 361 hotels of a variety of star ratings. Its restaurant business unit ran and owned a handful of fast food and diner chains. One of the perennial challenges that Marriott management faced was the close integration of its financial strategy, growth objectives, determining the appropriate hurdle rate for investments, and how to add a capital cost component to incentive compensation plans. Marriott’s Financial Strategy The overall objective for Marriott’s vice president of project finance, Dan Cohrs, was to support the company’s growth objective in being the most profitable company in its lines of business. To support this growth objective, Marriott developed a financial strategy that consisted of four tactics – manage rather than own hotel assets, invest in projects that increase shareholder value, optimize the use of debt in the capital structure, and repurchase undervalued shares. Manage Rather than Own Hotel Assets Marriott would develop hotel properties and then sell them off to investment partnerships. Its typical deal would consist of it being granted a long-term contract to operate and manage the property on behalf of the owner, where it receives 3% of revenues as compensation and 20% of profit over and above a specified return for the owner. If you wanted to maximize growth and shareholder value, this was a more prudent approach to being in the lodging business because the company wouldn’t be held down by large amount of debt associated with these properties and it eliminated a lot of long-term market risk. If a hotel went under, Marriott’s risk was limited to the portion of debt that it guaranteed instead of the entire amount. Therefore, this tactic supported the company’s growth objective because it did not tie up huge amounts of investment capital in fixed assets and allowed it to focus on activities and projects that could generate significant revenue growth. If Marriott could make a hotel very busy, it only had to make small increases in staff to accommodate large increases in business. Plus, its profitability would accelerate once it was able to clear its property owner’s return requirement. By being service oriented, Marriott greatly reduced the capital intensity of its lodging business unit. Invest in Projects That Increase Shareholder Value Technically speaking, this is a tactic espoused by every company. Marriott purposed to only invest in NPV positive projects based on the hurdle rate appropriate for the type of investment. The pro forma cash flows for investment opportunities were developed at the division level using corporate templates. This provided consistency in methodology while allowing for variation in unit specific assumptions. This will also support the company’s growth objective because it promotes Marriott getting the best results for its investment funds to maximize the value created by the projects it invests in. It also means that projects in riskier areas have to be that much profitable to generate the NPV to make an investment competitive versus alternative investments in less risky units. Optimize the Use of Debt in the Capital Structure Marriott used a targeted interest coverage ratio to determine its optimal use of debt instead of a debt-to-equity ratio. Because this approach bases debt capacity primarily on financial operations instead of market capitalization, it is supportive of growth by limiting debt based on near term financial performance rather than the ups and downs of the capital markets. Repurchase Undervalued Shares Marriott calculated its own valuation of its stock called its warranted equity value. Whenever its stock price went below the warranted value, Marriott would buy back stock. This tactic does not support growth because Marriott is using an intrinsic value of its stock to supersede the market value of the stock, which is the best indicator of the value of a publicly traded company. The company also assumed that this was the best use of cash and debt than investments. Although companies have used debt to repurchase stock, it is usually to try to â€Å"game† the system and improve the profitability related financial ratios by reducing the amount of total equity and the number of shares outstanding. Three more legitimate reasons for Marriott to buy back its stock would be mitigate the impact of stock dilution due to the exercise of stock options used as incentive compensation; to disburse excess funds to shareholders without the tax penalty associated with dividends; or to cheaply remove stock when the market it trading it at a steep discount to historical trends when the company is performing well. Buying back stock when it falls a small amount below an intrinsic value does not contribute to growth and those funds could have probably been used in a profitable, value-increasing project. Marriott’s Cost of Capital Estimation Process Marriott uses the weighted average cost of capital (WACC) to determine its corporate hurdle rate, as well as estimate the hurdle rates for its different divisions. The process begins with the company determining its debt capacity, cost of debt and its cost of equity, also being a function of the amount of debt. After determining the corporate level cost of debt, it allocated a portion of that debt to each of the business units to facilitate their unit hurdle rates. Each unit had a different debt weighting and cost of debt. Marriott annually updated its cost of capital for making investments. It does make sense for Marriott to determine a hurdle rate for its different business units because it is a diversified company, even if it is related diversification. Its business units carry the business risk of the industries they inhabit, regardless of the corporate make up of Marriott. To make the best use of Marriott funds and maximize value, Marriott has to take into account the risk associated with each unit’s projects. Having a hurdle rate for each business unit eliminates bias in project selection that would occur if it used the corporate hurdle rate. Marriott’s Corporate Weighted Average Cost of Capital In its use of the weighted average cost of capital (WACC) formula below, Marriott uses its long-term debt to total capital ratio (total capital = total assets – current liabilities) for its debt weighting. Cost of Equity To determine the cost of equity, Marriott used the Capital Asset Pricing Model (CAPM), which relates the returns for a single stock against the excess returns for the market over the risk-free rate. Marriott has a target debt percentage in capital of 60% for the company. Its 1987 debt percentage is 58.8% for which a beta of 1.11 was calculated based on the past five years of monthly returns. The average corporate tax rate for the past five years is 43.7%. The target debt percentage in capital is 60% and is treated as the debt-to-value ratio. For the target percentage the beta must be unlevered and then relevered based on the equation below. This produces a relevered beta of 1.135. The market risk premium is based off of the spread between the S&P 500 composite returns and long-term U.S. government bond returns of 7.92%. The risk-free rate is 8.72% based on the 10-year U.S. government bond maturity rate. Using the CAPM equation below, this produces a cost of equity of 17.71%. Cost of Debt Marriott has fixed and floating debt. Its projected mix will be 60% fixed debt and 40% floating debt. Overall, Marriott has estimated that its debt risk premium is approximately 1.30% above U.S. government debt securities. Fixed rate corporate debt is going to be consistent with 10-year maturity U.S. government debt and the floating rate debt is going to be consistent with 1-year maturity U.S. government debt. The 30year debt is not applicable because Marriott manages rather than owns the hotel properties it manages. The resulting weighted cost of debt is 9.29%. Debt Type Corporate or Firm Level WACC By applying Marriott’s corporate cost of debt and cost of equity from the previous sections, we calculate a WACC of 10.22%. Which Investments Can the Corporate Hurdle Rate by Applied To? The corporate or firm level hurdle rate cannot be applied to all projects because of the bias it presents when business units have less or more risk than the company as a whole. However, there are investments to which the corporate hurdle rate would be applicable. That would involve any capital expenditures on behalf of the corporate parent, including buildings, as well as enterprise resource systems and any other support systems that serve all three business units. For example, the three business units should be using the same system to do financial reporting and accounting. If Marriott only used the corporate hurdle rate for all investments, in the long-run, it would do poorly because the rate would cause the company to invest in projects that are too risky and avoid projects that could increase company value. Basically, Marriott would be worth a lot less than it otherwise would have if it didn’t take a one-size-fits-all approach to its hurdle rate for different projects in the business units. Or worse, it could go out of business or be acquired by a competitor that had a more rational approach to its project selection process and was able to buy Marriott with the value it had created. Cost of Capital for Individual Divisions The process that Marriott employs to determine the corporate hurdle rate can also be applied to its different divisions. For the lodging and restaurant divisions, the cost of equity can be determined by using the weighted average unlevered beta for a group of peer companies and then relevering the beta for that division’s leverage circumstances. Contract services will require a residual approach for determining its cost of capital. Peer groups were used to calculate weighted average unlevered betas for the groups, using 46% as the highest marginal corporate tax rate for the fiscal year ended June 30, 1987. For the lodging and restaurant divisions, the same risk-free rate and market risk premium was used. Although both divisions own long-lived assets, they are closer to 10-year versus 30-year assets, other than any facilities owned. As for the lodging and restaurant properties, the bulk of the capital investment is made in renovation, updating or modernizing hotel properties and updating of the restaurants. For example, Marriott will periodically update the furniture, dà ©cor, color and amenities at the properties it manages to keep them competitive. This is a regular part of the business, so long-lived assets in those properties would be replaced anyway. This even occurs in restaurants, although less frequently. Contract services would also operate its long-lived assets in the same time frame. To determine the cost of equity for the lodging division, a group of peer companies were gathered and key data related to capital structure, revenue and beta was compiled to calculate a weighted average unlevered beta for the group. That beta was relevered based on the lodging divisions projected debt percentage in capital of 74% as the debt-to-value ratio for the operating unit, resulting in a cost of equity of 20.13% To determine the cost of equity for the restaurant division, a group of peer companies were gathered and key data related to capital structure, revenue and beta was compiled to calculate a weighted average unlevered beta for the group. That beta was relevered based on the lodging divisions projected debt percentage in capital of 42% as the debt-to-value ratio for the operating unit, resulting in a cost of equity of 19.08% With the cost of debt and cost of equity relative to its industry, the restaurant division cost of capital is equal to 13.45%. Contract Services Division To calculate the cost of capital for the contract services is more complex because there aren’t any publicly traded peer companies to compare against and privately held firms either do not report their results or do not report results compliant with the financial reporting requirements of publicly traded companies. Based on the projected mix of fixed and floating debt, the cost of debt for the contract services division is estimated at 10.07% A residual approach will be required to determine the cost of equity for the contract services division according to the formula below using the unlevered betas, weighted by identifiable assets. Solving the formula for ÃŽ ²C will provide us with the last piece of information needed to calculate its cost of capital. This results in an unlevered beta of 0.610. Based on the projected capital structure of the division, it levers to a beat of 0.839. With the cost of debt and cost of equity applicable to this business unit, the contract services division cost of capital is equal to 11.33%. Conclusion There are already many assumptions made in a traditional cost of capital calculation for a single-industry company. When a company is diversified, like Marriott, it cannot use a single corporate cost of capital for making investment decisions. It must make decisions for each division according to the business risk faced by that business unit because the level of risk varies from industry and that must be accounted for. Otherwise, a firm will engage in biased decision-making, if they use discounted cash flow and net present value for making investment decisions because a single hurdle rate will inflate the value of some projects, while lowering the value of others. Epilogue To stay competitive and generate the most value that they can for shareholders, companies review and update their strategies. Marriott Corporation is no different. Not long after the time period associated with this case, Marriott began to take dramatic steps to maximize shareholder value. First, the company sold is restaurant operating division in 1990 (White, 1989). The competition from industry leaders was too intense and rapid expansion would have required a lot of additional capital. Subsequently, the company would go through multiple spinoffs. In 1993, the company spun off Marriott International, which managed and franchised hotels and retirement communities (Marriott International, 2012). The remaining company changed its name to Host Marriott Corporation and owned many of the properties managed by Marriott International. In 1995, Host Marriott Corporation spun off some of the contract services business with the name Host Marriott Services. This allowed Host Marriott Corporation to focus on its real estate assets. In 1998, Marriott International spun off its management services business in a merger with Sodexho to create Sodexho Marriott Services. Later that year, Host Marriott Corporation spun off is senior retirement real estate business as Crestline Capital Corporation. At the end of 1998, Host Marriott Corporation converted into a real estate investment trust called Host Hotels & Resorts (Marriott International, 2012). The last spin off conducted by Marriott International occurred towards the end of 2011, where it spun off its time share operating segment as Marriott Vacations Worldwide Corporation (NYSE: VAC). Marriott International is only involved in lodging now and reorganized into four lodging divisions – North American Full-Service, North America limited-service, International Lodging and Luxury Lodging. In terms of the financial strategy outlined by the Marriott Corporation in 1987, that strategy continues in Marriott International. It doesn’t own the properties. It just manages and franchises them. At the end of fiscal year 2011, its debt-to-market value ratio is 0.1579. The company appears to be attempting to minimize the amount of debt it uses. The cost of debt is approximately 5.485% and the cost of equity is approximately 11.44%. Marriott International’s WACC, based on 2011 financial statements is 10.12%. References Marriott International (2012). 2011 Annual Report. Retrieved from http://investor.shareholder.com/mar/sec.cfm?DocType=&DocTypeExclude=&Sort Order=FilingDate%20Descending&Year=&Pagenum=4 Marriott International (2012). Frequently Asked Questions. Retrieved from http://investor.shareholder.com/mar/faq.cfm White, G. (1989, December 19). Marriott to Sell Its Restaurants, Focus on Hotels : Services. LA Times. Retrieved from http://articles.latimes.com/1989-1219/business/fi-598_1_marriott-s-bob-s-big-boy

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Condoleezza Rice - On Leadership Essay Example | Topics and Well Written Essays - 1000 words

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Password Cracking Systems Research Paper Example | Topics and Well Written Essays - 5000 words

Password Cracking Systems - Research Paper Example The research paper "Password Cracking Systems" discusses the password cracking systems in detail. Password cracking is a process of accessing a computer system, network or resource with or without making use of software applications to open a resource that has been locked with a password. E-authentication (Electronic authentication) is a way of authenticating the client identities offered to an information system via electronic means. However, the e-authentication can create a technological issue for the reason that this procedure engages the remote or distant verification of particular people by using a digital communication network, intended for the idea of electronic administration and business. In fact, this idea offers practical directions to the corporations to authorize a single person to distantly confirm his/her uniqueness to a Federal IT arrangement. However, this way of management tackles simply customary, extensively applied techniques intended for remote verification based on secrecies. Moreover, through these techniques, the person who has to be authenticated verifies that he or she recognizes or possesses a number of confidential data and information. In this scenario, the majority of verification systems are basically dependent on secret passwords. But unluckily, the uncertainty and extent of user selected secret passwords to turn out to be permanent even after a long period. In difference, a hardware development continually provides attackers growing computational control. Thus, password methods like that customary UNIX user-authentication structure are becoming unsuccessful with the passage of time (Provos & Mazieres, 2002). Password cracking is a way of trying to access or crack passwords in an attempt to enter into a computer system or a communication network. In addition, crackers usually make use of a range of scripts, tools or cracking software to break a communication system password. In this scenario, the prime objective of the cracker is to perfectly get the password of server (UNIX) or other system and for Windows and NT. Moreover, the process of password cracking starts by matching each protected dictionary word with information stored in the system secret password file so that a match could be found (Webopedia, 2011) . Security management is one of the major concerns in this age of technology. However there is a large number of technology based applications those are breaking and disturbing such security settings. Password cracking systems are one of such systems those are used to breach the security of any system (Nash, 2000) and (Snyder, 2006). In the upcoming sections this paper will analyze such password cracking systems and their possible functioning. TECHNOLOGY EVOLUTION After the evolution of technology based systems microprocessors developed quickly, so does the pace of cryptographic digital software. In this scenario, speedy cryptographic technique offers a lot of chances for making application system safer. It makes encryption exploitable for a broad variety of systems. In addition, it offers superior standards of adjustable protection metrics like that secrete key length. However, growing security limitations make it very difficult to crack cryptography (or at any rate super-polynomia lly), dwarfing a number of advantages quickly hardware can present invaders. However, there is a security challenge in way of its implementation that is the extent and uncertainty of client selected passwords does not level in any way with computing control. Despite the fact that many systems need users to choose secret passwords for verification, some in fact acclimatize their algorithms

The Consequences of the Great Depression in the US Experienced from Research Paper

The Consequences of the Great Depression in the US Experienced from Children - Research Paper Example were hit hardest by the depression. On realizing that the economic downfall will last for a period, many countries initiated plans to keep their domestic production protected through the imposition of tariffs. Others raised their existing tariffs, and quotas were set on foreign imports (Ewing, 2006). All these restrictive measured aimed at reduction of international trade volume. Over the consequent assorted number of years, the contribution from investors declined and so did the consumption rate of the customers (Rauchway, 2008). Some economists are of the opinion that significant outcomes tot eh political sphere, with some political aspirants like Franklin D. Roosevelt of the democrat getting advantage of the economic distress. Arguably, the economic depression affected nation, consequently affecting individuals with those involved in trade getting severe effects. Though given less emphasis, the effects of the depression in children was as well diverse. This paper analyses in depth the consequences of the Great Depression in the US experienced by children. Lack of education Education is a key factor to the success of every child. As such, it is a requirement that children are given enough of it to ensure that their future life is well constructed. However, with the prevailing tension and economic distress during the Great Depression, the opportunity to access education was at stake (Terkel, 2011). Evidently, during this period, American institutions were profoundly transformed. For instance, in the 1920s, there was erosion of crucial educational advances, resulting in the closing of schools. The closure of these schools was instigated by the fact that funding was no more. In addition, those schools that were under construction were brought to a halt. This meant that children could not attend school any more. Notably also, the arrears for teachers and educational administrators increased. As a result, they formed unions and engaged in strikes with hope that th eir arrears would be cleared. The consequences were felt by children for lack of teachers and administrators meant that learning was no more (Bound & Turner, 2002). Retrieved on March 30, 2013, from http://static.ddmcdn.com/gif/trickle-down-in-down-market-1.jpg Alteration of Family Unit structures The Great Depression altered the way of living for families and children, turning to be a challenge to every American family. The notable effects ranged from impacted financial structures and employment of the entire family unit. Further, the families lost their jobs and could not settle their mortgage debt were rendered homeless. The basic needs like food, water, and shelter became scarce. Regardless of where one was living, be it in the city or on the farms, life was hectic for everyone. The depression forced the kids to work, made others run away from their family, and began living in the railroads. Most of the children from families that were not well off were forced to work and bring money to the family for their upkeep (Rauchway, 2008). This meant that the family structure was completely altered as every individual in the family felt the need to work add to the family income. Working of the children was not that good since children were affected in growth due to the physical fatigue and psychological depression. Medical challenges During this period, scholars document that infant mortality rate was at its peak because there was no prenatal medical care for the pregnant

Female, Feminine, Fertility Essay Example | Topics and Well Written Essays - 500 words - 1

Female, Feminine, Fertility - Essay Example In particular, she competes severely with Carla Santini, who was also striving to attain this position. Lola does not manage to beat Carla Santini since Carla Santini is quite clever and convincing. At one point, Lola gives up with the chase, but is later motivated to keep up the fight. She decides to participate in a play for their school where she manages to defeat Carla Santini. Although the two girls had personal differences during the time they were competing for the lead position, they are seen mending their differences by acknowledging each other (Sheldon, 2014). I have, for a long time seen female characters resembling Lola and Carla in that they are determined, brave yet considerate and willing to forgive. Such are the people the society wants whom despite differences in, for example places of work due to competition for a given position, they are willing to work together, relate positively outside jobs and acknowledge each other. Lola is used to show the modern woman whom despite challenges facing her, she should never forget her worth and values. The modern woman should aim high and fight hard to attain her position while remembering that she should maintain positive relationship with other with whom she is battling out with. Competitors need not only be fellow women but could also include men. For instance, there is a stiff battle between men and women with women striving to get their positions in the society. Such female characters would have a positive impact on practically every person. In fact, there is nobody would be harmed by the presence of Lola and Carla in the society. However, men might be harmed by characters like Lola in the society especially due to the determination part of the character. Being determined means that such female characters will never let off the battle with men in striving to

Epsteins Essay Example for Free

Epsteins Essay We must all acknowledge and adhere to the feeling of boredom, as we have all felt its distinct dampness in some form or another. Epstein’s essay â€Å"Duh, Bor-ing† is able to capture and enforce its ideologies through direct references and quotations; with a little education and perseverance you are able to decipher and put meaning behind the unique examples he portrays in his writing. Epstein starts his essay with â€Å"Somewhere I have read that boredom is the torment of hell that Dante Forgot† (Epstein 1). In using this quote from Albert Speer we really get the feeling that boredom is unbeneficial and in fact tormenting at times. As many will agree with that statement, Epstein further goes on to say â€Å"When bored, time slows drastically, the world seems logy and without promise, and reality itself can grow shadowy and vague† (Epstein 2). There again giving you the feeling that boredom can cause you to perceive time differently and cause life to become dark and gloomy at times. He does a great job incorporating these quotes into his writing to really back the feeling that we carry towards boredom. We have all felt the negative vibes portrayed from boredom and many of us try to avoid them at all costs. Being able to form my own opinions, judgments and thoughts on the subject allows Epstein’s essay to be easily relatable and interesting to read. Epstein further allows you to connect with the text by particularizing on the different types of boredom perceived. Situational Boredom, in which he relates to a â€Å"dull sermon† (Epstein 1) and existential boredom caused by modern culture. Epstein lets us ponder the thought that maybe our own modern culture is to blame for boredom. He elaborates that boredom is often less pervasive in simpler cultures â€Å"One hears little of boredom among the pygmies or the Trobriand Islanders, whose energies are taken up with the problems of mere existence† (Epstein 2). With everything becoming increasingly more technological and people able to live easier, longer and healthier lives maybe we create our own boredom through modern society. He also refutes existential boredom in saying â€Å"Even animals know boredom, we are told, though they are deprived of the ability to complain directly about it† (Epstein 1). An animal at most represents the closest thing to be at its core un-modernized. Although deprived from the ability to complain about it, animals symbolize pure primal instinct and yet are affected by boredom just alike. Naturally boredom has a negative stigma wrapped around it but as Toohey suggests â€Å"Boredom is good for us Boredom can function as a warning sign†¦telling those who suffer unduly from it that they need to change their lives† (Epstein 5). Epstein’s allowing that negative stigma to be refuted upon and replaced with that of a greater self-perception. That maybe boredom is a self-defense mechanism or a symptom in reaction to your own life struggles and yet curable. Epstein constant analytical approach to the advantages and disadvantages of boredom helps make this essay work in building credibility to the fact that he’s not one-sided or condensed. He capitalizes on the indifferences boredom promotes and truly tries to look at the subject from all angles and sides drawing power and reason from multiple sources and references. Overall with the use of distinct wordy visuals and references Epstein able to make his writing work in that of capturing his readers and allowing them to form their own interpretation on the matter.

Assessment on English for Cambodian Textbook Uses

Assessment on English for Cambodian Textbook Uses The fall of the Pol Pot regime in 1979 contributed to a new step toward introducing new foreign languages-Vietnamese, and Russian, in Cambodian education system. However, at the end of cold war in late 1989, French and English were reintroduced once again at lower secondary school education after a long period of prohibition of teaching the two languages toward the end of Lon Nol regime in 1975 (Igawa, 2008). Although French and English have been taught ever since that time, English has become the first foreign language owing to the fact that there has been a switching allocation of language resources from French to English (Clayton, 2006). Since English becomes more and more influential language in Cambodia, high attention has been drawn to make this language more and more communicable among school girls and boys at basic education level from grade 7 to grade 12. Meanwhile, the main the purpose of Lower Secondary School (LSS) is to have students fully participate in the society and become a productive citizen. In this regard, the objective of teaching foreign language at that level is set to serve basic communicative competence for the students (MoYES, 2004). To serve the above objective, in Lower and Upper Secondary school levels from grade 7 to grade 12, MoEYS employs the book series named English for Cambodia to teach students, which was initially piloted in 1996-1997 academic year (MoEYS, 1999). Before the publication of English for Cambodia (EFC) series, many textbook series such as Headway, English for Today, and streamline, to name but a few, were utilized to teach Cambodian Secondary School students. Shortly after several projects had been conducted to develop an appropriate English textbook for Cambodia, EFC textbook series were published with six levels in which one level is confined for the whole academic year of each grade at both Lower and Upper Secondary schools in Cambodia (Vira, 2002). In grade 7, students are to take the first level of the book named English for Cambodia: Book 1. The book is written in English including the explanatory part in the first section. The textbook content is organized on the grammar basis containing a number of chapters which each is subdivided into 4 or 3 units to explain the target grammar, some drills using the grammar, short dialogues with questions to check for comprehension, and reading texts. From the content, each chapter subsequently orientates students towards communicative goal (MoEYS, 1999). English for Cambodia, book one, was developed in forms of teachers guide and student book in respect to MoEYS Textbook Master Plan (1996) and cooperated with Cambodian research institutions. This textbook was designed on the basis of MoEYS English Syllabus for grade 7 students and accompanied by the teaching methodology developed by teacher trainers during training course for Lower Secondary English trainees. In particular, the main features of teaching methodology in this book is characterized as: enhancing 4 language skill practices namely listening, speaking, reading, and writing; practicing grammatical structure and vocabulary and introducing systematic and appropriate means of communicative language function; various effective teaching and learning technique presented in each unit; and regular interaction between students and teachers (MoEYS, 1999). 1.2 Research Problem Three tables below show that teaching English is started at lower secondary school from grade 7. This means that from grade 1 to grade 6 Cambodian students who solely take primary education at state schools are not familiar with any of Basic English Alphabets. Table1: (Curriculum for grade 1-3) Table2: (Curriculum for grade 4-6) Table3: (Curriculum for grade 7-9) (MoEYS, 2004) On the other hand, from observation on teachers and students, the majority of them seem to be out of their interests in the learning and teaching English due to the fact that content of textbook does not suit well with students language learning ability. As demonstrated in three tables above, teaching foreign language begins in grade 7. However, the textbook that is used for grade 7 students tends to be higher in language introduction than real students language learning abilities are. For instance, in the first chapter of ECF1 textbook, it begins with short dialogue and straight away gets students to introduce themselves to their friends in the classroom (English for Cambodia: Book1, chpt: 1). This significantly drives grade 7 students attention away from learning English at school. Paul Morris suggested that the best criteria for content selection shall respect to learners ability. However, this criterion is not carefully considered (Morris, 1996). Particularly, Cunningsworth (1995) proposed that best criteria for selecting a good textbook is to analyze if the textbook content responds to learners needs and also the objective of language program (Cited in Richards, 2001). In this regard, there comes the question, Does English for Cambodia book 1 fit well with and correspond to grade 7 students needs and their learning abilities? 1.3 Objectives of the Study (Research objectives) To refine the current EFC textbook content, this study aims at evaluating both strengths and weaknesses of the existing textbook and shed light on how to improve the textbook contents by employing some theories of textbook evaluation from previous studies abroad to build up logical frameworks for the research findings. Moreover, this study will compare textbook content used in Cambodian lower secondary school to some other English textbooks used in some other private institutions-whether the textbooks contain the element of communicative language teaching objective set by the Cambodian Ministry of Education. In this regard, the refined qualities of textbook can be developed to help grade 7 students who learn English to improve their language performance in Cambodian high schools. 1.4 Research Questions What are the strengths and weaknesses of EFC 1 textbook perceived by teachers and students in grade 7 English classes? Are there any significant differences of English textbook content used in Cambodian secondary school and those used in private schools? 1.5 Hypotheses Strengths and weaknesses of EFC 1 textbook are perceived by teachers and students in grade 7 English classes. There are significant differences of English textbook contents used in Cambodian secondary school and those used in private schools. 1.6 Significance of the Study This study will contribute to establishing guideline for grade 7 textbook review aiming at enhancing qualities of the existing EFC textbook series. This study will serve as a tool to facilitate grade 7 students with appropriate learning English as second language materials at Cambodian lower secondary school. The result from this study will offer recommendation to curriculum developer to reconsider the current textbook content in the view to making it relevant to the Cambodian grade 7 students and adherent to general objectives of foreign language teaching curriculum set by the Ministry of Education, Youth, and Sports in Cambodia. 1.7 Definition of Key Terms The assessment on EFC1 textbook will be done through examining the internal features and external features of the book. The term internal features refer to physical appearance, layout, pictures, and printing quality, while external features specify the language contents and skill development of the book. 1.8 Proposed Chapter Organization This research study is organized in five chapters. Chapter 1 is introduction dealing with background information of the study, problem statement, research objective, research question, significance of the study, and proposed chapter organization. Chapter 2 is literature review which makes use of many studies oversea to construct a logical framework for textbook evaluation. This review of literature will lead to structural features of textbook evaluation consisting of internal and external features, and draw up some characteristics to achieve the goal of communicative language teaching. Chapter 3 is research methodology which deal with research design, instruments for data collection, setting, data collection procedures, plan for data analysis, ethical considerations, and limitation of the study. Chapter 4, finding and discussion, will present the findings related to the strengths and weaknesses of EFC1 textbook, and pose recommendation for textbook review to make it an appropriate material for grade 7 students in Cambodian lower secondary school. Chapter 5 is conclusion. CHAPTER 2: LITERATURE REVIEW Since there are limited previous studies concerning textbook evaluation in Cambodian context, this study will base largely on related studies oversea to draw the theoretical framework to textbook assessment. And the review of literature begins with the description of general features of textbook evaluation, and is followed by textbook content evaluation for communicative purposes, related study in EFC textbook evaluation, and finally conclusion. 2.1 General Feature of Textbook Design Evaluation Textbooks are teaching materials generally used in many teaching programs. In order to measure the strengths and weaknesses of any textbooks used in Second Language Teaching program many criteria have been set to carry out the framework of evaluation. In 1982, David William in his position as Senior Lecturer and the head of Language Art Section at Ahmadu Bello Unversity of Nigeria proposed the evaluative scheme through his work: Developing Criteria for Textbook Evaluation. His evaluative scheme is based on four criteria namely linguistic, pedagogical, general, and technical principles. These principles provide up-to-date teaching methodology to teachers, especially those whose native languages are not English, to benefit from appropriate guidelines introduced by a particularly chosen textbook. Moreover, the needs of second language learners shall be carefully considered especially when pupils in the same class have many different backgrounds of English capacity. Whats more, introduci ng vocabulary and grammar shall be conducted in respect to students socio-cultural norms so as to relate students native language with the introduced target language. As the result of these principles, David William suggested a checklist in which ESL textbook should be included such as guideline for teaching language items and skills, supplementary materials for pronunciation, provision of variable techniques for teaching grammar and vocabulary, guideline for teaching reading comprehension and writing, and technical aspects of language presentation textbook should have such as appropriate pictures, diagrams, table (William, 1983) Cunningworth (1995), on the other hand, proposed four criteria for textbook evaluation. First, textbook should correspond to the need of learners and fit well with the aims and objectives of the programs. Secondly, textbook shall shape students learning purposes for effective language learning outcome. Thirdly, they should facilitate students with learning process, hence increasing a good flow of learning-teaching activities. Fourth, textbooks should serve as a supporting tool to accommodate students learning and target language. In addition, Cunningsworth also recommended a checklist for textbook evaluation which bases on 9 categories: aims and approaches, design and organization, language content, skills, topic, methodology, teachers guide, and practical consideration (Cited in Richards, 2001). Another systematic evaluation proposed by Byrd (2000) also recommended practical textbook analysis before putting it into use for English class. He addressed the three fits that can be the keys to assessing an effective textbook use in general: the Fit between curriculum and text, the Fit between students and text, and the Fit between teacher and text. The first fit analyzed the consistency between curriculum set and materials used in order to reach the commonly achievable goals. The second fit served as a link between students needs and textbook. For this purpose, textbook should combine three key elements including content explanation, examples, and exercise or tasks. The three keys should be of students interest and use, of appropriateness to target students to be explained, and of help in explaining to them about what they need to know in order to learn. More, different kinds of students should get benefit from varied activities the book presents in order to meet their own needs. And of course, to enhance the three key elements textbook should employ physical make up including graphics, arts, print size, as well as attractive illustration. Last but not least, the third fit provides benefit to teachers in which he/she can make use the teaching textbook to help them solve problem related to teaching language within their classrooms. From the textbook teachers should be equipped with guidelines, extra materials, activities, and methods to extend their language teaching in their assigned classroom (cited in Celce-Murcia, 2001). Although no textbook is perfect in language teaching class, there are universal characteristics of textbook that can be used as format for textbook reviews. In a journal article by Hansan Asary and Esmat (2002), they drew up universal features of textbook analysis by selecting 10 ESL/EFL textbook evaluation schemes and 10 ESL/EFL reviews as collections to develop their study. From their analysis, the authors come up with universal characteristics of EFL/ESL textbooks which are outlined as: 1) approach which is related to theory of nature of language and learning; 2) content presentation referring to purpose and objective as well as sequences of presentation and consideration on students part as well as teaching syllabus; 3) physical make-up which refers to the appropriate layout, pictures, and publishing quality; and 4) administrative concern which involves cultural and social aspects of the texts (Ansary Babii, 2002). To assess the quality of textbook of grade 6 English Language class in Saudi Arabia, Abdulrahman Ali M. Alamri (2008) conducted one research study to evaluate the newly published textbook, named Sixth Grade English Language, which was used in Saudi Boys Schools. The selected criteria to evaluate the textbook in question was similar to what have been mentioned in the above theories of textbook evaluation including the general appearance, design and illustration, accompanying materials, objectives, topic appropriateness, learning components, socio-cultural contexts, skills development, teachability, flexibility, teaching methods, and practice and testing. The result from this study showed that Sixth Grade English Language Text really satisfied all 104 participants, but there were some comments suggested by the author in order to improve quality of textbook include adding appropriate glossary to facilitate teachers and learners, incorporating attractive illustration to encourage more cr eativity, encouraging more critical thinking through interesting topics, introducing more authentic themes to get students more active in class, including life-like interaction to encourage more flexibility of language practices, and finally providing more effective teaching methods that make students more communicative in class (Abdulrhman, 2008). 2.2 Textbook Content for Communicative Goals In general principle, Communicative Language Teaching consists of two key components. The first component is based on the idea that language is not solely pieces of grammars, but is involved with language functions. Therefore, students should learn how to use language appropriately in a context of (formal, informal, tentative, technical) writing and speaking. Second component stems from the idea that learning language can take place only if students have adequate chance to expose to language use (Compiled by Rath Hok, 2002). In this regard, textbook shall integrate skill development, language function, and appropriate topic for authentic language use (Cunningsworth, 1995; Sharma, 2005; Madhi, 2006; Abdulranhman, 2008) To assess if textbooks serve as communicative language teaching tools in junior high school of Japan, one research study conducted in Japan by Bal Krishna Sharma (2005) attempted to analyze textbooks series used in Japanese junior high school on two broad criteria: physical feature and internal feature. From internal feature, Bal Krishna Sharma posted criticism on textbook design for Japanese junior high school that the textbook emphasized more on grammar, hence lacking of communication skills, various tasks and activities (Sharma, 2005). Similarly, in order for the textbook content become more communicative in lower secondary school, textbook content shall emphasize more on communicative role of language rather than more on structural methods. In a research report conducted in 2006 by Mahdi Dahmardeh in an effort to expand the constructive change in communicative textbook design in Iranian Lower Secondary school and to carter for teachers and students needs and expectation, he analyzed the current textbook use in Iran by categorizing it into 7 aspects: teaching vocabulary, reading comprehension, speaking out and write it down, language function, pronunciation practice, teaching listening and writing, and teaching culture. From these categories the author found that Iranian textbook design for lower secondary school cannot meet learners and teachers needs owing to the fact that the textbook still emphasized more on structural methods and ignored communicative roles of language (Madhi, 2006). Social cultural aspect of language also plays important role in extending the authentic language function. In Cunningsworth checklist of textbook evaluation, topic selection for textbook design shall be various to expand students awareness and experiences, meet the students language level, and represent the socio-cultural context which related to students way of life (cited in Richards, 2001). Moreover, Abdulranhman (2008) also stressed the importance of socio-cultural aspect which is familiar by students. Students are likely to instill positive attitude with the language they learn. In this case the term lingua franca starts to take its effect in teaching language, which means that language is adopted widely to make its communicable among the speakers whose native languages are different from each other. It is, therefore, concluded that foreign language taught in a particular country shall insure its variety to make it learnable and teachable. 2.3 EFC textbook evaluation in Cambodian Secondary School Though there have not been many studies concerning Cambodian textbook evaluation, Neau Vira (2002) conducted his study on English Language Teaching in Cambodian Secondary school in his effort to seek significant domain in renovating successful teaching profession. However, one section of his study covered EFC textbook evaluation which he sought the answer to the quality of EFC textbook through questionnaire, and in-person interview. 39 participants were selected to express their judgments on the currently used textbook quality. Surprisingly, all the respondents expressed their satisfaction on the EFC textbook because this textbook series was interesting, appropriate to students levels, relevant to Cambodian daily lives, and various in activities for students to practice in their class (Vira, 2002). 2.4 Theoretical Framework From frameworks found in the above articles, it can be concluded that two broad criteria should be categorized to measure the strengths and weaknesses of EFC textbooks: external features and internal features. External features refer specifically to physical make-up of textbook including font size, layout, quality of printing, weight and size, and illustration. On the other hand, internal features take underlying teaching approach and language content into consideration. The latter features examine the language skills, presentation of grammar and vocabulary, language function, teachable language activities, teaching methods and objectives, and topic appropriateness. Moreover, the previous finding concerning EFC Textbook evaluation cannot cover broad array of textbook evaluation criteria mentioned above. Therefore, further study need to be analyzed to assure more valid result. CHAPTER 3: METHODOLOGY 3.1 Research Design To discover general perceptions of teachers and students on the strengths and weaknesses of EFC textbook, as well as comparing EFC textbook content with those of textbooks used in private language school, this study will use quantitative method. Since the purpose of this study intends to assess the perception of students and teachers on strengths and weaknesses of textbook contents in question, this type of research is classified as survey research (Gay, Geoffrey, Peter, 2009). In this regard, a number of teachers and students will be allowed to voice their personal judgment on the targeted areas of textbook qualities the study focuses on. 3.2 Research Instrument This research study will employ checklists of textbook evaluation from previous studies. These checklists are incorporated into a single questionnaire which categorized into 2 major areas of textbook evaluation: internal and external qualities. In external quality evaluation, 7 items of statements will be included to measure overall appearance of textbook design such as quality of cover page, pictures, table of contents, layout, and printing. Anyway, to assess external quality, 20 items of statements under the internal quality are used to get general perceptions of teachers and students on textbooks aims and objectives, content organization, language content, skills, topics, and teaching methodology. All items in questionnaire are organized in Likert-like scale in which all participants are to respond to a number of statements on scale values ranking from: 1) strongly agree, 2) disagree, 3) agree, and 4) strongly agree. In addition, to ensure clear content of questions and to be easily answerable by participants, questionnaire needs to be translated into Khmer to suit grade 7 students learning competence, while teacher can answer the questionnaire with their own choice in Khmer or in English version. Moreover, pilot testing needs to be carried out one month before the real survey begins to guarantee the validity and reliability of the questionnaire. From this pilot testing, it can help improve questionnaire contents and its prospective score results. 3.3 Population and Sample Site of this study is small, which cover only on the target area of Phnom Penh where a number of both state and private schools are located. Questionnaire will be used as a survey to get personal judgment from target population of 60 Grade 7 students and 40 teachers of English who teach them in 10 different secondary schools. Other 20 teachers from 5 different private language schools will be also invited to answer the questions related to the features of beginner textbook content used in their institutions. The sampling design for this population follows clustering procedure in which 60 students and 40 teachers will be randomly selected from 10 secondary schools where EFC1 textbooks are used in Phnom Penh, and 5 private language schools where their particularly chosen textbooks are used. First among each 10 secondary schools, all number of grade 7 classes are selected. Then only 2 or 3 classes will be selected for the questionnaire participation. Teachers who teach in those classes are asked for answering the questionnaires. Meanwhile, around 6 to 10 students of those teachers classes are also selected to answer the questionnaires. For private language schools, all number of beginner classes are selected. Then only 1 or 2 teachers who teach beginner classes are requested for their participation. 3.4 Description of Variables Derived from the Research Tools EFC textbook content is judged through the teachers and students perception with questionnaires. The participants involved will rate a series of statements in scale value ranking from number one (the most disagree) to number four (the most agree). To seek the answer to the first question of this research, students and teachers perception on strengths and weakness of textbook contents are assessed with each statement in the questionnaire. Item 1 to 7 under external quality section are used to evaluate the overall textbook appearances, while item 1 to 20 under internal quality section are used to evaluate textbook content organization, language content, skills, topics, and teaching methodology. To find the differences of textbook contents employed by some private schools and those used in Cambodian secondary school, the answers from questionnaires that will have been given by all participants are compared and contrasted to discover commonalities and differences of all textbook contents being assessed. Therefore, from the survey, if higher percentage of participants rate on the higher scale of each statement, this will tell that textbook contents being assessed have their strengths. In contrast, if higher percentage of participants rate on the lower scale, it will interpret that textbook contents have their weaknesses. 3.5 Data Collection Procedure In order to have access to the target population, permission need to be sought from school principles for a number of available grade 7 teachers and students at each school. After having accessibility to the school, all grade 7 classes will be selected. But we need to limit the number of students to get involved in answering the questionnaires. This means that only roughly 2 to 3 students that represent the whole class will be chosen to answer the questions. Meanwhile, to assess the qualities of textbook used in private language schools, permission is also sought for one beginner teacher from several private schools. This means that 5 different textbooks from 5 different private schools will be assessed. Additionally, the detail explanation needs to be made at the target areas just in case the participants have any misunderstanding over the questions. We will keep doing with this procedure until 25 target participants can be assessed. 3.6 Plan for Data Analysis Data analysis is conducted in the follow steps: First step: collect all answers from the participants involved in answering the distributed questionnaires. Second step: analyze respondents answers if their answer is bias or non-bias on the ground of textbook contents. Third step: prepare for data entry Fourth step: the data will be analyzed using SPSS to see the percentage of respondents who agree or disagree on the EFC 1 textbook design quality. Fifth step: present the result and discussion. 3.7 Ethical Consideration All participants will be informed in advance that schools, teachers, and students names will not be revealed to ensure validity and reliability of their answers. Before conducting the survey, the participants need to be ascertained that their answers do not harmfully affects their current teaching careers, their school reputations, or students learning process. The participants should be clearly informed that their answers will be kept confidential and will not be used for other purposes. All data collected will be used for the purpose of this research finding only. Moreover, their contribution of answers will be worthwhile to the development of effective teaching materials for beginner language learners. 3.8 Limitation This study will target at the population in Phnom Penh where all selected private language schools and public high school are located. With time and financial limit this research can not reach the target population in the rural area, hence having difficulty getting the answer that represent the whole country demand for EFC 1 textbook evaluation as needed.

Auditing Regulations in the UK

Auditing Regulations in the UK Introduction Following the financial disasters that led to the collapse of corporations such as Enron and WorldCom, international and national regulators sought to strengthen legislation relating to the internal and external auditing of corporations. This resulted in the introduction of a number of international and national Acts and enforceable codes, commencing with the Sarbanes-Oxley Act 2002[1] in the US (www.sarbanes-Oxley .com). In the UK the government introduced the Combined Code (FSA 2006) in 2003, which has subsequently been revised and strengthened, and revised the Companies Act (2006). These became the foundation for corporate governance and appropriate auditing procedures. This paper seeks to evaluate the effectiveness of this regulatory framework in creating an auditing environment that will prevent a repeat of the disasters that led to their introduction. This will follow a brief overview of the auditing processes is provided initially. The Audit Process There have been several definitions of the term audit; perhaps the most succinct of which is that based upon the American Accounting Association’s, which states that: â€Å"Auditing is a systematic process of objectively gathering and evaluating evidence relating to assertions about economic actions and events in which the individual or organisation making the assertion has been engaged, to ascertain the degree of correspondence between those assertions and established criteria, and communicating the results to users of the reports in which the assertions are made.† Porter et al (2003, p.3). In other words, the task of an auditor is, through the use of a structured programme, to gather evidence relating to the financial statements made by a corporation, evaluate the accuracy of the statements made in the light of this evidence and also to ensure that any opinions and reports presented are in accordance with the prevailing rules, regulations and criteria. They then have to present a certified unbiased view of their findings from the audit to external stakeholders, such as the shareholders and government authorities (See figure 1). There are several types of audits conducted throughout an organisation. However, this paper concentrates upon the external and internal audit. A licensed and qualified firm of auditors, whose independence from the organisation must comply with the definitions set out the combined code and accompanying guidance notes, carries out an external audit. The essential purpose of the internal audit is, in the words of the Institute of Internal Auditors (Spencer-Pickett 2003, p.2), intended to â€Å"improve the effectiveness of risk management, control and corporate governance processes.† Whilst the intention of this process, as with external auditing, is to provide and independent assurance on these processes and controls, the internal audit personnel are employed directly by the corporation. Current regulations The auditing process relates to most corporations (Gray and Stuart (2004), but this paper concentrates upon the Public Limited Company. In respect of financial reporting within the UK, commercial organisations are governed by the rules of the Combined Code (2006) and the international reporting standards set by the IFA[2], as explained within their handbook (2006). Combined Code The combined code concentrates upon five areas of the corporation’s activity and internal structure. These include: Directors – which include advice on suitability, proportion of executive to non-exec directors on the board and their roles and independence. It also defines a clear distinction of duties between CEO and Chairman. Remuneration This relates formula for the make-up and levels of director’s pay, together with the inclusion of an independent remuneration committee. Accountability and audit –Requires the board, through an independent audit committee, to maintain an adequate system of internal control that should be audited, the selection and independence of external auditors and outlines the process of accountability of the organisation to the various stakeholders. Relations with shareholders – Outlines the responsibility of the board to its shareholders and the reverse. This section of the code also sets out the requirements of the board to include the shareholders rights within their voting and operating procedures. Institutional shareholders – Section E of the code concentrates specifically upon the relationship that exists between the board and its institutional shareholders and outlines the dialogue that should occur between the two stakeholders of the business. IFRS Perhaps most important aspect of the financial reporting and auditing process is contained within the FRS[3] and SSAP[4] (ASB 2007) regulations, the former of which are based upon the international standards, which have been subjected to a series of amendments in recent years. Main Objective The Main IFRS objective is to promote a universal financial reporting standard, with the intention of providing an equality of financial information that can improve comparison and reliability of content on a global basis. In addition, the standards set out to increase the trust and reliance on financial reporting system, thus reducing the likelihood and potential risk of financial disasters such as Enron. Other objectives The objective of IAS 1:7 is directly related to the provision of financial information to be used for investment or other economic reasons, such as acquisitions. As such it concentrates upon the reliability of the accounting and reporting standards for the Balance Sheet and Cash Flow statements. Therefore, it focuses on a fair representation, attracting significant importance to the â€Å"fair value† of assets, liabilities and equity, allowing interested parties to ascertain the current real market value, thus making â€Å"historical cost accounting† redundant. Company officers have to prepare and sign compliance statements in terms of the veracity of the information and internal controls operated by the corporation and there must be a separate external audit certificate. The IFRS measurements are applied to each of the standards, although there is intent to introduce measurement as a separate application[5]. However, at present IFRS 2, relating to share based performance has specific measurement guidelines, as does the IFRS relating to the treatment of fixed assets, Here the initial measurement is the acquisition paid, but in later reports these values must reflect a fair current market value, unless there is a reason for this not being possible. In general, the measurements require a â€Å"current fair value† model to be used The presentation of financial statements and disclosures is also addressed For example, the Balance Sheet must contain at least sixteen lines (IAS1.68), which include tangible and intangible assets, current and future liabilities and a breakdown of the equity structure. IAS 1.81 provides the requirements for the income statement including revenue, costs, profit or loss and its distribution. As shown within the list of standards prepared by Deloitte (2005), in addition to the above there is a range of other requirements, including risk assessment corporate governance regulation compliance. If any disclosure cannot be made a certified statement has to be prepared by management and included within the financial reports giving the reasons for this omission. The major task for external auditors is to certify the accuracy and compliance of the statements, and the effectiveness of internal controls ensure efficient business management and a secure level of protection for investors and shareholders exists. Where risks exist, this must be identified with recommendation for actions. Concerns In spite of the regulations and codes, there are still concerns being expressed by investors and shareholders. These generally fall within three categories. Auditor competence and independence A recent survey shows shareholders are concerned about the external auditors. This focuses on their independence, experience and suitability and compliance with procedures. Independence of internal controls Similar concerns are being expressed regarding the internal controls and auditing process. Shareholders are not convinced that the level of effectiveness in identifying fraud and risk is effective or transparent enough and are thus seeking an expansion of financial reporting statements (John Lorinc 2002). Shareholder concerns are supported by research at the university of Auckland (Cheung and Hay 2004), which particularly showed auditor independence to be a major concern to investors. Fair value The concept of â€Å"fair value† is another issue causing disquiet. To date, the IFRS do not have a single definition for the term. Therefore it becomes subject to independent expertise and opinion. However, the fact that such opinions can vary significantly means that the level of reliance on â€Å"fair value† is considerably reduced. Conclusion As can be seen from this evaluate, whilst the IFRS’s go a long way towards addressing the issues surrounding the accuracy, reliability and honesty of financial reporting, the issues of â€Å"fair value† and auditors independence are still a major concern in the minds of investors. This is supported by events such as the near collapse of Northern Rock PLC in the last quarter of 2007, which shows that that there are still inadequacies within the reporting standards that need to be addressed. In this case there are questions to be asked about the interpretation of â€Å"fair value† and the internal controls. By inference, this must also raise the issue of auditor suitability. References ASB (2007). Accounting Standards and Practice. Retrieved 30 November 2007 from http://www.frc.org.uk/asb/technical/standards/accounting.cfm Cheung, Jeff and Hay, David. (2004) Auditor Independence: The Voice of Shareholders. Business Review. Volume 6, issue 2. University of Aukland. Copnell, Timothy (Director) (2006). Shareholders’ Questions 2006. Audit Committee Institute KPMG LLP. UK Deloitte (2005). IFRS 7: A disclosure checklist. Retrieved 28 April 2007 from http://www.iasplus.com/fs/0510ifrs7checklist.pdf FRC (2005). Guidance on Audit Committees (The Smith Guidance). Financial Reporting Council. London, UK. Gray, Iain and Manson, Stuart (2004). The Audit Process: Principles, Practice and Cases. Third edition. Thomson Learning. Handbook of International Auditing, Assurance, and Ethics Pronouncements. (2006). International Federation of Accountants. New York. KMPG (2005). KMPG International Survey of Corporate Responsibility Reporting 2005. Retrieved 29 June 2007 from http://www.eldis.org/go/display/?id=19513type=Document Lorinc. John (2002). After Enron. CA Magazine. Canada. December 2002. Porter, Brenda., Simon, Jon and Hatherly, David (2003). Principles of External Auditing. John Wiley and Sons Ltd. Chichester, UK. Sarbanes-Oxley (2002). Retrieved 29 November 2007 from www.sarbanes-Oxley.com Spencer-Pickett, K.H (2003). The Internal Auditing Handbook. John Wiley Sons Inc. New Jersey, US. The Committee on Corporate Governance (2006). The Combined Code on Corporate Governance. Financial Reporting Council. London. Footnotes [1] Also known as the â€Å"Public Accounting Reform and Investor Protection Act of 2002† [2] International Federation of Accounts [3] Financial Reporting Standards [4] Statement of Standard Accounting Practice [5] see http://www.iasb.org/Current+Projects/IASB+Projects/Fair+Value+Measurements/Fair+Value+Measurements.htm

Opinions of Radical Environmentalism :: Environmental Beavers Wildlife Essays

Opinions of Radical Environmentalism The two articles I am going to look at are Radical Environmentalists vs. the Beavers by Jack Alan Brown Jr. and Environmentalists are Mean Green Joes by F.R. Duplantier. Radical Environmentalism is now a common term in our vocabulary. When you here the term what do you think about? I think about all the things that the environmentalists talk about and all the ideas brought to the table, good and bad. In the two articles I read they are both on the same subject of Environmental issues. The first author Jack Alan Brown Jr. is not against the environmentalism but feels that we have to do something to farther the advance of human kind. The second author F.R. Duplantier topic is â€Å"Do environmentalists really love nature, or do they just hate people†(p.1)? A combination of the author’s opinions would give you my thesis. For the advance of the human culture to take place, nature is going to have to help by giving the humans the resources available in nature. In the first article the author is presenting the idea of what the beavers do to the rivers and how they work together to get things done. The author is relating the beavers, a fuzzy, nice looking animal, in an attempt to get an emotional response. This author is making the other view on dams, look like they are the bad guys because if the beavers do it why cannot the people do it. The author says, â€Å"[Beavers] They alter the wet lands wherever they go†(p.1). The author is comparing the humans building of dams and the beavers building of dams. However the author is using a small scale comparing it to a big scale, but you can easily see his point. Brown’s sentence structure flows very nicely and does use nice sentence structure making it clean for everyone to understand. The points are all very clear and direct. The author does this in order to make sure that there is no confusion between what is being said and what is being understood. From the beginning of the essay you know what the author’s viewpoint on the subject is. The thesis in the beginning is a very clear on that. The author, Duplantier is very straightforward. This author uses many quotes to reinforce the point of his writing. â€Å"The goal of environmentalists is to protect nature, not for man, but from man†(p.

Capital Punishment: The Correct Alternative Essay -- Argumentative Per

Capital Punishment: The Correct Alternative      Ã‚  Ã‚  Ã‚   Today there is a big controversy over capital punishment whether or not it works or if it is morally right. Before I go on capital punishment, in America, is only used in felony cases such as murder or a felony buglary, where there was a unintended murder because of a robbery. People who favor the death penalty say that the criminals deserve it and is the only way for justice to be served. People who are against it, the death penalty, say that it is immoral, that no person should be sentenced to death, it has no place in a civilized society, and that since the death penalty cannot be racially bias it should be banished. Capital punishment is justified by several means. First of all, it greatly discourages violent crimes like murder and rape. Many murderers are not serving most--if even half--of their sentences nowadays, due to early parole or overcrowded prisons. If a murderer is sentenced to life imprisonment, not only does it cost the taxpayers money to support the m but often their life in the jail is often better than that which some citizens live everyday. These first two facts encourage crime rather than impede them. Also, a person who commits murder deserves a punishment that fits the crime committed. Premeditated murder, being the most vile crime committed, calls for the only fit punishment-- death. I am referring only to murderers getting the death penalty, and not necessarily any other crimes like rape or buglary.    There are now currently thirty-seven states that have the death penalty. Even the military has the death penalty. The other states, most of them in the Midwest and Northeast have abolished it. The only two states to not ever have the death penal... ...manner that gives society the message that it is living in a just world. Moreover, the death penalty is not racially biased, it's just that more minorities are being executed than Caucasians, because more minorities are committing more crimes. If capital punishment is taken away, we will not have an effective justice system and crimes against innocent citizens will continue. This is why capital punishment is necessary and needed in America.       Works Cited 1. " The Death Penalty." 3/01/95 (date retrieved). 2. Hugo Adam Bedau. "The Case Aginst The Death Penalty.". July 1992. 3. "Double Justice: Race and the Death Penalty.". 3/01/95 (date retrieved). 4. "Slaughterhouse Justice." Village Voice 11 Oct. 1994: 23-24. 5. " Safeguards Guaranteeing Protection of the Rights of those Facing the Death Pealty.". 3/01/95 (date retrieved).   

Purinex Inc. Case Study Essay

Executive Summary 1. Statement of Problem This study is commissioned to analyze the Purinex, Inc. financing plan, which is related to determine the best financing alternative for the company in securing additional cash needed to establish a partnership with a large-capitalization pharmaceutical firm. Gilad Harpaz, Purinex’s chief financial officer believes a partnership deal could bring the company to execute its mission, developing drugs for the treatment of sepsis and diabetes. However, the problem facing Purinex is that—while there is a chance for Purinex to secure a partner in the next four to twelve months, Purinex just has available cash to last around 11 months; furthermore, there is still a very strong chance that a different partnership would occur about one year later. In short, Purinex is now facing the challenge of the lack of capital to reach the partnership deals. According to the case, Gilad Harpaz is considering three options for Purinex to solve the problem. To help identify the feasibility and attractiveness of these financing alternatives, this study is based on the decision tree approach to evaluate the options. 2. Discussion As described in the case, firstly, the partnership deal would entitle Purinex to receive a combination of up-front fees, milestone payments, and royalties for the treatment of either sepsis or diabetes (see Appendix 1 for the detailed information). Secondly, due to the lack of capital, there are three financing options: 1) raising a one-time round financing from a Venture Capital (VC) firm, 2) simply waiting in the expectation that either sepsis deal or the diabetes deal would come through, and 3) undertaking another one-time round financing from a number of angel investors. It is needed to note that when Purinex seeks external funding investments either from VC firm or angel investing, the investors will acquire certain equity in Purinex (see Appendix 2 for the expected ownership percentage). Nevertheless, if Purinex chooses to maintain 100 percent control, it would lose the opportunity to secure a third-party partnership which is anticipated to occur about one year later. The reason is that Purinex has only $700,000 cash on hand which is good only for around 11 months. It is important to note that this study is based on the following assumption—the  combination of monies for each partnership deal will be received once Purinex successfully secures a partner. In addition, the probability of establishing a partnership with a pharmaceutical company for the wait-6-months option is estimated to be 25% since the achieved partnership chance for the next four to twelve months is about 75% (see Appendix 3 for the calculation). Furthermore, the expected value (EV) for each financing option is derived from the calculation of the EV of the partnership deal, and it is based on the standpoint of the founder’s equity interest. As a result, the decision tree for Purinex’s financing plan is shown in Appendix 4. One can notice that based on the potential return and risk level, the financing alternative for waiting 6 months is ranked as the highest risk option in terms of offering the highest potential return. The reason is that Purinex does not have to share its earning with other parties. Thus, once the partnership agreement is reached, Purinex’s founders can obtain the entire EV of $325 million. However, the major risk associated with this option is Purinex has far less opportunity to secure a partner. While there is a 75% chance for VC and angel financing options to achieve the partnership deal, this option just has a 25% probability. Furthermore, the VC and angel financing options still hav e the other chance—a 95% probability—to secure a different partnership about one year later. With regard to the VC option and the Angel option, it seems like the VC option provides a higher return for the sources of cash since this option just takes 3 months to complete the process and could offer Purinex $10 million, which enables Purinex to survive another 15 years. In addition, the VC option will improve 10% for the terms of either drug deal. However, this study would consider financing from angel investors is more feasible and attractive for Purinex based on the analysis of decision tree. The decision tree shows the fact that VC firms would require 40 percent of the equity in Purinex, resulting in the situation of having less EV. Perhaps the most important factor is that there is a very strong chance—a 98.75% possibility (100% – [25% * 5%])—that a partnership deal will come through during the following two years, and thereby raising $2 million form angel investors is quite enough for Purinex to secure the partnership deal. In addition to the analysis of decision tree, there is still a qualitative consideration that has impact on structuring the decision. Indeed, with the external financing,  the existing owners share composition will be changed that would trigger the control power issue and impose a significant number of restrictions on Purinex, including preferences for board appointments, antidilution rights liquidity, participation, and negative covenants. Therefore, choosing the angel option would offset this negative impact because Purinex’s ownership percentage will still be 89.74%, which is much greater than a 60% for the VC option. 3. Recommendation Fundamentally, the goal of Gilad Harpaz is to seek the best financing alternative for Purinex in securing additional funds in order to accomplish the partnership deals and maximize the value of Purinex today. Based on the presented analysis of decision tree, a major finding of this study is that Gilad Harpaz should try to adopt and implement the angel financing strategy which has a maximum EV along with lower risk. However, with this strategy, the issue of dilution in the founder’s equity interest is still needed to be considered. In addition, in order to pursue the future growth, Purinex should try to employ the partnership strategy to generate more sales at a short period of time. Hence, this study believes, based on the decision tree approach, the best financing alternative for Purinex is financing with Angel investors along with the partnership strategy.

Are Women in India SAFE? Essay

India’s definition of the term â€Å"ladies first† is not for the development, constructive, progressive things my friends. With India, â€Å"ladies first† since decades has been about victimizing women in incalculable, brutal crimes. And with that note, a good afternoon to respected jury members, members of the audience and my fellow orators I, Aishani Sheth would not want to answer this question by saying women in India are safe or otherwise. Rather, I would like to expose the true nature of the very question. â€Å"Does the sun rise in the East?† Well, this is not a question that needs an answered, is it? It is rhetoric and the condition of women in India today is such that this question too becomes rhetoric. I do not wish to talk about how walking alone at night or going to schools or waiting for transport in broad daylight also or staying in your own house or just enjoying with friends IS NOT SAFE today! All of us know it because every 20minutes a rape case is reported in India and statistics state more than 50% cases are not even reported. But I am going to talk about who a woman is! She is a mother, a wife, a lover, a daughter, a friend, a professional, a sister. And I am not going to give names, all I am going to give you is 5 instances. In Kerela a teenage daughter was sexually abused by reportedly being promised roles in TV serials. In Kashmir, Human Rights organizations including Human Rights Watch have reported that the number of raped friends, sisters was as high as about 100 in just one night by army officials. In Uttar Pradesh, a 28 year old wife was raped by her own father-in-law. In Maharashtra, there was a major case of human trafficking, rape and sexual slavery and more than 500 school or college going daughters had fallen victims. And how can we forget the gang rape on a friend in our prestigious Capital City! (Well is there any safety in India? And my friends it not that only Indian women are not safe, every woman coming to India is unsafe today! French Tourist was drugged and sexually abused who later died. While 6 men raped a Swiss Tourist) ? India has been invaded by Prussians, Mughals, Sultans, Romans, French Britishers but has attained freedom in the end. It has independence today. But what about the women? Do they have the freedom? They are still the slaves of a patriarchal society. It would be surprising to note that just yesterday I was reading the Forbes Magazine and I came across the list of â€Å"World’s most powerful Women 2013† and out of 100 only 4 were from India. In the top 10 it had Sonia Gandhi at no.9 and Indra Nooyi at no.10. But friends, lets act practical. Sonia Gandhi is an Italian while Indra Nooyi is a US Citizen. Power and Safety go hand in hand. Without safety there can be no power. And the condition of Safety is a pre condition and this is clearly evident through this report! All of us, whether a male or female are scared to walk in the streets past midnight in the fear that dogs will bite or chase us. While for women in India the situation has become such that at any place or at any time of the day there is a chance that she will get attacked by â€Å"Those dogs†. Lastly to conclude, I would like to share my own experience. Just yesterday I was preparing for this elocution competition and as it demanded time, I was in the campus beyond the regular college hours. I might have received more than 40 calls from my mother, my father and my brother every 2 minutes with just one concern in their mind â€Å"Are you safe? Are you safe? Are you safe?†