Thursday, May 21, 2020

Contents Finance For Managers Finance Essay - Free Essay Example

Sample details Pages: 16 Words: 4829 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Finance is very significant for business organisation. Finance comprises planning of financial resources, making of most favourable capital structure and effective consumption of financial capital by  deep analysis of  cost of capital and  capital budgeting  instruments. It is very advance knowledge. Don’t waste time! Our writers will create an original "Contents Finance For Managers Finance Essay" essay for you Create order Like other technology, it can also enhance the efficiency of business, so effectual utilisation with sensible care is very necessary in Finance. Without this Finance can become hazardous for company. Suppose, if company attains large amount through its network resource but company has not made high-quality financial planning regarding its effectual consumption, then Company can reach at the stage of liquidation, because if Company has not high-quality plan for investment, it will not be able to provide good return to its creditor and investor, after this  creditors  of Company can put it in danger after demanding their finance. So, study of finance and its tool is very significant. The Institute of Certified Management Accountants (ICMA), states A management accountant pertains his or her professional knowledge and ability in the preparation and management of financial and other decision oriented information in such a manner as to assist management in the making of policies and in the development and control of the operation of the responsibility. Management Accountants therefore are viewed as the value-creators between the accountants. They are much more involved in forward looking and taking decisions that will influence the future of the business, than in the historical recording and fulfilment (store keeping) aspects of the profession. (ICMA) For the analysis of various operations within the organisation, different evaluation techniques can be used. The selection of suitable analytical techniques is central in designing effective strategy that will guide to clear insights and proposals that will have an impact on the business. The appropriateness of each type of analysis to a particular study plan is determined by precise objectives and business need. Different techniques comprise perceptual mapping, correspondence mapping, discriminate mapping, conjoint analysis/ choice modelling, unmet needs/ gap analysis, Kano analysis, maximum difference scaling, turf/ coverage analysis/ line optimization, cluster analysis (k-means, latent class, etc), latent class modelling, discriminate analysis and SWOT analysis etc. For this assignment paper, I have selected Coca-Cola Co. (Coke). Coca-Cola is a beverage manufacturing company and has grown many well known brands such as Sprite and Dr. Pepper etc organically or through acquisitions and mergers. Question 1 Sources of Finance Sources of finance are the essential part of an entity as they are obligatory for the operations and growth of the company. A corporation can raise finance through internal or external sources. In this particular assignment I have to discuss the long term source of finance for Coke. The statement of financial position extracts of company for the financial year 2011 are as follow. Disclosures show that these non-current liabilities consist of bank loans and capital leases. Bank Loans A Bank Loan is a sum of money borrowed from the bank and then need to be repaid with interest on or before a set date. Bank loans are engaged out for a fixed period, banks would want some form of safety to certify that the bank loan is rewarded back including interest along with it. A bank loan is usually engaged out for a purpose e.g. borrowing money to commence a new business, providing new apparatus for their company, buying stocks, buying new goods to sell in your company, even buying shares or using the money to spend in the business. This is related to mortgage because with a bank loan you also need to pay back the money together with interest.   Many trade owners who need financial assistance in their business will go to the bank promptly to take out a loan, but most companies that become unsuccessful or insolvent will find it difficult to pay the money back to the bank which had been borrowed and will then be in debt. If the business is then in liability they will have to discover a way to pay back the bank, if they are not capable to pay the debt they will then have to speak to the bank to ask for them to permit the business more time to pay back the money along with the interest. Also with the bank loan many companies will continue trading more equipment or purchase more supplies in order to keep the business running because from time to time a business is made triumphant because of the quantity and quality of the product or equipments required. Advantages The Advantages of this financial technique are that there are wide varieties of conducts to spend the money protected from a bank loan. A bank loan can be available quickly. As soon as the bank loan is secured, the skilled borrower can then complete a bank loan contract. A bank loan can be used in a number of ways; this money can be used for large items such as cars or any other sort of vehicle, furniture, investment etc. A bank loan can offer much needed funds for a borrower. These advantages take a big outcome from the loan. Disadvantages The Disadvantage is that when people use too much money, they get spellbound by their debt. Some loans contain a down payment fine, which restricts the borrower from paying the money off before without incurring additional cost. There are a number of restrictions on the contract e.g. there might me circumstances on the way the money is used. Also one of the difficulties is that there might be a permanent date on which the loan has to be repaid. Borrowing too much money can lead to a bungled cash flow and also payments can even go beyond income in some matters of cases, this is why many loan payments are restricted to a certain percentage of a borrowers income. And another drawback is that you have to return 100% of the money borrowed plus an interest rate. The interest rate depends on how long you need to pay the money back; the longer you take, the higher the interest rate. Leases A lease is an agreement between two parties- one is lessor other is lessee. The lessor owns a capital asset, but allows the lessee to use it. The lessee makes payments under the terms of the lease to the lesser, for a specific period of time. Leasing is, therefore, a form of rental. Leased assets have usually been plant and machinery, cars and commercial vehicles, but might also be computers and office equipments. The business pays a regular amount for a period of time, but the item belongs to the leasing company. Most owners cars are leased to business. The business pays the monthly fees for using the car. According to Geoff Black (2005) (Pg-136), A finance lease means by which companies obtain the right to use assets over a period time. The ownership of asset never passes to the actual users of the assets. Advantages It offers fixed rate financing; you pay at the same rate monthly. Leasing is inflation friendly. As the costs go up over five years, you still pay the same rate as when you began the lease, therefore making your dollar stretch farther. (In addition, the lease is not connected to the success of the business. Therefore, no matter how well the business does, the lease rate never changes.) There is less upfront cash outlay; you do not need to make large cash payments for the purchase of needed equipment. Leasing better utilizes equipment; you lease and pay for equipment only for the time you need it. There is typically an option to buy equipment at end of lease term. You can keep upgrading; as new equipment becomes available you can upgrade to the latest models each time your lease ends. Typically, it is easier to obtain lease financing than  loans  from commercial lenders. Disadvantages Leasing is a preferred means of financing for certain businesses. However it is not for everyone. The type of industry and type of equipment required also need to be considered. Tax implications also need to be compared between leasing and purchasing equipment. You have an obligation to  continue  making payments. Typically, leases may not be terminated before the original term is completed. Therefore, the renter is responsible for paying off the lease. This can pose a major financial problem for the owners of a business experiences a downturn. You have no equity until you decide to purchase the equipment at the end of the lease term, at which point the equipment has depreciated significantly. Although you are not the owner, you are still responsible for maintaining the equipment as specified by the terms of the lease. Failure to do so can prove costly. Ratio Analysis Following are some of the relevant ratios regarding the long term financing of the company Debt to equity 0.90 Debt to capital 0.47 Interest coverage 28.43 The above ratios show that the company is having a very balanced debt to equity ratio which means that currently it is not overly geared. Debt to capital shows the overall coverage of the debt in the company by its Capital. Lastly the interest cover is very large. It means that profit after tax for the company is more than sufficient to pay all the interest charges. There is also an indication that company has a great capability to raise finance through debt. Changes in policy In the past, company was reluctant in using the operating income as the sources of finance as means for investment. This eventually leads to less payment of dividends. Hence the corporate management of the company realised that there are some small shareholders in the company that only want is adequate return and also it is abiding by the corporate governance principles that the company must treat all the shareholders equally so in order to give dividends, company made a policy to use leases and loans from banks as long term sources of financing in case of some adjustment. This lead to satisfactory result as the company is not having any threat of liquidity and it can also easily all the payments and interest charges as the fall due. From Past five years, company has not issued any shares and it is also an indication that company is definitely not having any financial difficulties and if by chance the fall due, gearing of company allows it to raise finance through debt or credit fina ncing. Recommendations At present Coke is a bit reluctant towards the use of debt as the source of it long term financing as company is not having any liquidity issues to pay its suppliers or tax authorities. As the Debt to capital ratio is very low so the company should take use of its superb liquidity position and credit history and make use of borrowings from banks to increase the portfolio of its products. This will lead to an increase in the gearing ratio and decrease in the interest cover ratio but it is acceptable. Another policy that company can undertake is to repurchase its shares in order to improve its EPS by using the long term financing and hence can achieve a best mix of capital and loan quantities in the company. Question 2 Role of Management Accountant Horngren, Sundem and Stratton (2002) state that budgeted goals and performanace are generally a better basis for judging actual results than is past performance (Horngren, Sundem, Stratton, 2002) Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions. In contrast to financial accountancy information, management accounting information is designed and intended for use by managers within the organization, whereas financial accounting information is designed for use by shareholders and creditors. Usually confidential and used by management, instead of publicly reported; forward-looking, instead of historical; Computed by reference to the needs of managers, often using management information systems, instead of by reference to financial accounting standards. This is because of the different emphasis: management accounting information is used within an organization, typically for decision-making. Ideal Role of Management Accountant The role of the management accountant is to perform a series of tasks to ensure their companys financial security, handling essentially all financial matters and thus helping to drive the businesss overall management and strategy. Management accountants are key figures in determining the status and success of a company. Some choose to become a Certified Management Accountant (CMA), a similar credential to  CPA, but with a greater focus on cost accounting, financial planning, and management issues. Job responsibilities can range widely. Depending on the company, your level of experience, the time of year and the type of industry, you could find yourself doing any of the following tasks: Budgeting Handling taxes Managing assets to helping determine compensation and benefits packages Aiding in strategic planning Management accountants are responsible for all or part of a companys financial status, actions and transactions. They coordinate accounting operations, hire, and train and oversee staff. It lies also within the responsibilities of management account to maintain budget and perform financial analysis. Management accounts tend to strengthen the corporate position of the company by build business strategy and improve its image by managing relationships with investors and auditors of the entity. (International, 2012) Consistent with other roles in todays corporation, management accountants have a dual reporting relationship. As a strategic partner and provider of decision based financial and operational information, management accountants are responsible for managing the business team and at the same time having to report relationships and responsibilities to the corporations finance organization. The activities management accountants provide inclusive of forecasting and planning, performing variance analysis, reviewing and monitoring costs inherent in the business are ones that have dual accountability to both finance and the business team. Examples of tasks where accountability may be more meaningful to the business management team vs. the corporate finance department are the development of new product costing,  operations research, business driver metrics, sales management score carding, and client profitability analysis. Conversely, the preparation of certain financial reports, reconciliations of the financial data to source systems, risk and regulatory reporting will be more useful to the corporate finance team as they are charged with aggregating certain financial information from all segments of the corporation. In corporations that derive much of their profits from the information economy, such as banks, publishing houses, telecommunications companies and defence contractors, IT costs are a significant source of uncontrollable spending, which in size is often the greatest corporate cost after total compensation costs and property related costs. A function of management accounting in such organizations is to work closely with the IT department to provide  IT cost transparency. Management is responsible for the preparation and fair presentation of the financial statements included in this annual report. The financial statements have to be prepared in accordance with U.S. generally accepted accounting principles and reflect managements judgments and estimates concerning effects of events and transactions that are accounted for or disclosed. Given the above, one widely held view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and historical endeavour. Coca-Cola In Coke, management accountant tends to cover a wide and vital corporate role. It is by far key executive position within the company as every kind of reporting and compliance responsibility related to the company is the responsibility of management accountant. From vast description of tasks done by the management accountant within coke, a few of them are listed as follows. Providing Operation Management Reporting on monthly basis cooperation with related Department (TOL, SM, HR and Finance) to be distributed among CCBI Senior Management and CCA Senior Management Prepare debtors and aging report which provide detail Account Receivable collections by Modern and Traditional channel which will be used on FYR forecast Providing comprehensive financial performance analysis that relates to some specific areas such product costing, pricing strategy analysis, net contribution analysis Providing in-depth analysis of financial statement that includes Profit Loss, Balance Sheet and  Cash flow statements and identifying any key financial issues to be underlined Provide Financial Statement for AIST stakeholder meeting Prepare and submit Stock Movement Inventory to Sydney on quarterly basis Responsible for providing financial information requested by other functions Supporting the Annual  Business Plan  and Full Year Review processes especially in product costing system Management accountant is the head of finance department in the company. The finance department of the Coca Cola Company is responsible for  financial record keeping. This involves keeping records of money  received and paid out. The financial records will be used to produce  the annual reports for the shareholders so that they can see the  company performance. The Finance department is also responsible for  the management accounts of the business like marketing etc. The  Coca-Cola Company finance department is also responsible for making  budget of the company and for each department like marketing   department or research and development department. They will also be  involved in the planning process like taking over or any major  decision. Differences I think that these are more than what should be required from the management accountant. He should not be responsible for the detailed findings within the organisation but have to control the overall strategic position of the organisation along with the relevant reporting. There are two important tasks that are neglected in the roles that a management accountant plays in coke. The two tasks are the preparation of sustainability reports and environmental reports. Ideally, reporting on sustainability is integrated into a single integrated report that communicates every aspect of a companys performance. Effective sustainability reporting is a powerful part of communicating with stakeholders about how you are performing against your objectives. Companies that embrace this are likely to have an advantage over their competitors and boost value for shareholders. However, it can be a significant challenge to make your sustainability information and reporting more reliable, efficient and effective for the benefit of both external stakeholders and internal management. Access to information Management accountant in Coke has access to all the management accounting information in the company. Management accounting information is focused at internal managers and decision makers. Its intended use is to provide financial data relevant to a managers operations in an effort to make sound business decisions. Management accounting information comes in the form of financial ratios, budget forecasts, variance analysis and cost accounting. Without management accounting practices, making these decisions would be more like  gambling  and less of a science. Once the forecast models are built, the budget process can begin. The budget process allots capitalmoneyfor the future operations. Estimates of the future costs and liabilities are made. These dollar amounts are constructed from analyzing the past liability and cost trends. Al this budgeting information is accessible by management accountant within Coke. Ratio analysis is completed at the end of each accounting periodmonthly, quarterly and annuallyto determine the companys ability to pay its long- and short-term debts. These rations demonstrate a companys solvency and liquidity. These same ratio analysis tools can be used to determine a companys effective use of inventory and raw material. This analysis tells the management accountant whether the company is operating within the overall guidelines that will promote profitability.   Managerial accountant in Coke than uses all of the accounting data available to make  decisions solid based on trends, facts and projects. These decisions are critical to the future of Coca-Cola Company. Effective managerial accounting takes much of the risk out of decision making and bases it more on fact. However, there is always financial risk in doing business. Analyzing past trends can create a clear  picture of  the future. Question 3 Planning control and decision making In Coke, planning and decision making is very systematic process. Company has to decide about different projects and graphical project planning techniques are used for planning controlling and deciding about different projects. In Coke, projects that involve more than one person and/or more than one step pose the following questions: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ What tasks need to be done to complete the project? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ When and in what order will these tasks be done? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Who will do each task? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ What are the intermediate deadlines (e.g., status reports), and what will be done by these deadlines? To answer these questions, additional issues arise, such as: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ How long will each task take? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ What dependencies exist between tasks? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Who has the knowledge/skill/time to do each task? ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ What external constraints exist (e.g., time to order parts)? The Gantt, PERT, and CPM charts describe the answers to these questions in time oriented diagrams. In all cases, the task is the basic unit of interest. In this context, a task is some significant activity the group will need to perform to accomplish its goals. Note that the group will have goals that include the project itself as well as presentations, reports, proposals, etc. Tasks are given: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ A name/description (typically, verb-noun, as in design control board or research literature) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ An estimate of the amount of calendar time required ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ A list of other tasks (if any) that must be completed before this task can begin (or end)-i.e., dependencies. Other task attributes can be added if desired, such as time required in person-hours and other resources required (e.g., financial, special skills, special equipment). Besides tasks, other information is required, such as: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ The overall project start/end dates ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Other deadlines or milestones (e.g., reports, etc.) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Factors affecting time available (e.g., holidays, breaks, other classes, presentations, etc.) Now the three methods (Gantt, PERT, CPM) will be described. Following that, a cookbook approach to the creation of a Gantt chart will be presented. Gantt The Gantt chart was invented in the early 1900s by Henry L. Gantt, an American engineer and social scientist. The horizontal axis is (linear) time; each task is given its own horizontal band where the calendar duration of the task is indicated by a box, line, or other object with a variable horizontal dimension. Tasks are often grouped into categories, and each category can be treated as a summary task whose duration spans all the tasks within that category. Tasks are generally listed from top to bottom in the order they will occur; if there are groups of tasks, the tasks are chronological (by starting date) within a group, and the groups ordered by starting date. The horizontal axis has a resolution appropriate to the type of tasks; a resolution of one day is useful for most projects. Note that if significant work is not expected to be done on weekends, these should be omitted from the chart, otherwise tasks will have their durations distorted if they straddle days when no work is likely. A vertical line is usually placed on the chart to show the current date. Other important milestones can be noted (and labelled) with dotted vertical lines at the appropriate dates. The advantages of the Gantt chart are: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Time is explicit (and linear) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ All tasks visible in relationship to others ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Deadlines are shown ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Project status at intermediate times is shown ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ can show progress by filling in task boxes The unmodified Gantt chart has the following shortcomings: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Tasks might not be associated with people (solution: tag tasks with the initials of the people responsible) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Person-hours are not indicated, only calendar time (solution: note person-hours near the task box) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Dependencies are not explicit (solution: imply dependencies by ordering tasks, or use extra lines and arrows) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ No summary of the load on a person (solution: create an additional set of horizontal task lines for each person, showing what tasks they are working on when) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Other resources not shown (e.g., financial) (solution: note resources in description or near task box) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Critical paths are not explicit (solution: use highlighting or other graphical means to indicate the sequence of tasks along the critical path) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ does not record difference between original plan and actual (solution: enhance the task box to show two different durations-an upper (actual) and lower (estimated)) PERT A few of the shortcomings of the Gantt chart are solved in the PERT chart (Program Evaluation and Review Technique). The PERT chart uses a connected series of nodes to make explicit dependencies between tasks. In addition, the order of tasks is given by the flow of the connections left to right, but the horizontal axis is not necessarily linear in time. The PERT chart can be more compact than the Gantt, but does so at the cost of a linear time scale. The time resources required by a task are given numerically, rather than appearing graphically (i.e., horizontal dimension) as in the Gantt chart; this may make it harder to quickly see what areas are using the most time resources. CPM The CPM (Critical Path Management) chart is similar to the PERT chart but includes an explicit indication of the critical path-that sequence of tasks that defines the minimum amount of time for the project. Put another way, these are the tasks that a delay within will delay the entire project. One or more sequences of such tasks always exist; the CPM chart makes these paths (usually just one) explicit. Otherwise, CPM shares the same strengths and weaknesses as the PERT, and the two are often lumped together as one technique. For complex, time-critical projects, the CPM/PERT charts might be useful in providing a clear indication of the critical sequences of tasks necessary to keep the project on schedule. However, the Gantt chart-especially when augmented by notations to show dependencies-is easier to produce and update, and is a good all-around project planning tool. A Cookbook Approach for the Gantt chart What follows is one way of creating a Gantt chart. 1. List all known milestones, deadlines, and deliverables (papers, presentations, etc.) 2. List all outside constraints on time (holidays, exams, etc.), money, equipment, etc. 3. Create a list of tasks brainstorm a list of as many possible tasks for the project as possible (Brainstorming: In a set amount of time, say 5 minutes, the group lists as many ideas as possible without criticizing them. Some will be useless; the idea here is to get as many different possibilities out as possible. Some might be tasks; others might be general categories of tasks.) Group these brainstormed tasks into categories (e.g., documentation, software, etc.). Some elimination of ideas can be done at this point. review each category and brainstorm additions within the category 4. Because these tasks have been brainstormed, go back and eliminate any tasks that are not significant or relevant. 5. for each task in the list time (in person-hours, then estimate calendar) dependencies (other tasks) resources (money, parts, equipment) (Note-the procurement of parts, equipment, and even expertise/knowledge might be a task in itself.) who will be doing it (perhaps a function of required knowledge/skill, or time) 6. Organize the task groups by starting date (or other logical and consistent criteria), and tasks within groups by starting date Note: You might find it useful to list each task on a small Post-It note so you can create a large scale version before working on the computer. 7. Use Excel or other tool to create the Gantt chart Remember to include only working days on the time axis Significant (and possibly recurring) milestones or deadlines can be shown as tasks (of minimal duration), as vertical lines at the appropriate date, or on the time axis. Provide a table of symbols or any other necessary information to interpret the chart Always show the current date as a vertical line; note the last revision date of the chart as well somewhere on the chart PERT and CPM charts may require either special software or more flexible software like diagramming/paint programs. Choose a chart type and method of creating the chart such that you can easily update the chart for your progress reports and even weekly meetings. Alternative Approach Coke can also make use of Logical Framework Approach (LFA), a highly structured and systematic method of analysing problems and defining objectives (which includes the problem and objective trees, explained in the previous section) and then of selecting and organizing the relevant activities for reaching the objectives, following a strict logical order. For each programme, the LFA should normally result in the production of a Logical Framework Matrix (LFM), also called a Log Frame, which summarizes the programme in a limited number of columns and rows and can be accompanied by more detailed work plans or activity schedules. (Handbook on Planning, 2009)

Wednesday, May 6, 2020

John Steinbeck s Of Mice And Men - 973 Words

Wole Soyinka once said, â€Å"I have a kind of magnetic attraction to situations of violence.† In John Steinbeck’s novella, Of Mice and Men, Lennie seems to attract violence and tragedy like a moth to a flame. George takes care of Lennie because of Lennie’s mental disability, and Lennie manages to find some trouble in every place George takes them. Lennie’s actions throughout the novella, play a major role in the events that occur, they leave Weed because of him, his new puppy dies because of him, Curley’s wife dies because of him, and their dreams shatter because of him. One of the first events the readers hear about explains how George and Lennie end up walking amidst the trees. â€Å"Jus’ wanted to feel that girl’s dress—jus’ wanted to pet it like it was a mouse—Well, how the hell did she know you jus’ wanted to feel her dress? She jerks back and you hold on like it was a mouse† (11). George and Le nnie run away from Weed because Lennie becomes troublesome when he immaturely handles situations that arise. The reader may pick up on the many hints and clues that Steinbeck give about the fact that Lennie may possess some mental disability that inhibits his ability to know right from wrong until horrific events occur. â€Å"He just scared her. I’d be scared too if he grabbed me. But he never hurt her. He jus’ wanted to touch that red dress, like he wants to pet them pups all the time† (42). Lennie’s initial reaction to panic creates uncomfortable situations when he freezes up, but if heShow MoreRelatedJohn Steinbeck s Of Mice And Men1248 Words   |  5 PagesIn Steinbeck s novel Of Mice and Men, He uses imagery many times to create a realistic setting and plot. Steinbeck’s depiction of migrant workers and their daily complications during the depression are objectively precise due to his use of imagery with idioms, dreams, nature, loneliness and animal imagery. The main theme of the book transpires to be loneliness and fate. While George and Lennie, the main characters have a synergetic relationship, fate steps in and does away with their dreams, whichRead MoreJohn Steinbeck s Of Mice And Men897 Words   |  4 Pagesthat we possess. Many people feel certain emotions based on events that have taken place in their lifetime or how they were raised throughout their childhood. In John Steinbeck’s Of Mice and Men, he portrays the feelings of isolation and loneliness in three different characters. George’s isolation is illustrated in Steinbeck’s, Of Mice and Men. George expresses many hard feelings towards Lennie at the opening of this story. â€Å"‘...you’re a lot of trouble,’ said George. ‘I could get along so easy and soRead MoreJohn Steinbeck s Of Mice And Men1243 Words   |  5 Pagesis what John Steinbeck achieves by portraying this through the characters in his novella Of Mice and Men. The main characters are affected by loneliness in their own different way throughout the novella. rf The loneliness is maintained by the challenges that the characters have to face, and they sustain those challenges of being inhumane towards each other. Crook, a figure in the story who experiences discrimination encounters the challenge of race, due to the book’s setting in the 1930’s duringRead MoreJohn Steinbeck s Of Mice And Men1080 Words   |  5 Pagesâ€Å"I want you to stay with me Lennie. Jesus Christ, somebody’d shoot you for a coyote if you was by yourself.† The novel Of Mice and Men by John Steinbeck shows the relationship between two migrant workers in the 1930s, George and Lennie, along with the other members on the new ranch that they began working on. Georgie and Lennie dreamed of following the American Dream and owning their own patch of land and the novel revolves around the dream and the obstacles that stand in their way. Lennie, a strongRead MoreJohn Steinbeck s Of Mice And Men1286 Words   |  6 PagesThe realistic fiction novella O f Mice And Men by John Steinbeck explains the journey of two migrant farm workers. Lennie and George are forced to overcome the Dust Bowl and The Great Depression around 1938. This makes jobs even harder to come by because everyone wanted one. Lennie and George were kicked out of Weed and they now work at a ranch in Soledad. At the new farm the friendship between Lennie and George becomes harder to maintain. The people on the farm are all different shapes, sizes, andRead MoreJohn Steinbeck s Of Mice And Men2167 Words   |  9 Pagesjobs. In John Steinbeck’s Of Mice and Men, George Milton and Lennie Small wander through California in search of a new job that would help them make enough money to live their American dream on â€Å"the fatta the lan’†(Steinbeck 14). George and Lennie’s hard work and determination is not enough for them to live their dream. Lennie has a mental disability that slows the two friends down from living their dream; they have to ru n from job to job because of Lennie’s unintentional actions. Steinbeck incorporatesRead MoreJohn Steinbeck s Of Mice And Men1360 Words   |  6 Pagesfeeling, thinking and acting in everyday life. In the story Of Mice and Men by John Steinbeck, a duo of farmers, George and Lennie, search for work wherever they can. Their dream of having a farm of their own is coming into reach, while George has to wield Lennie away from the temptation of Curley’s wife and the reality of what Lennie can do. John Steinbeck uses characterization to illustrate the nature of human existence. Steinbeck portrays George as a man who tries to help, and helps others soRead MoreJohn Steinbeck s Of Mice And Men1448 Words   |  6 Pages In the novella, Of Mice and Men, John Steinbeck discusses the idea of loneliness and how people who work at the ranch have no family and no future in lives. He indicates that all people at the ranch are lonely, but he specifically uses a few characters to highlight their state of being lonely and more miserable than the others. He emphasizes the loneliness of ranch life during the Great Depression, and shows how people are willing to try and find friendship in order to escape from the state ofRead MoreJohn Steinbeck s Of Mice And Men1205 Words   |  5 Pagesand the time period of John Steinbeck s novella, Of Mice and Men, exemplifies the idea that people from minorities are held back from achieving their version of the ‘American Dream’. This goes to prove not everyone will overcome the overbearing tidal waves of their hardship s, which makes the American Dream nothing more than a dream to them. Crooks, the black stable hand, faces discrimination due to his skin color as this unfortunately was common in the 1930’s. John Steinbeck uses Crooks’ situationRead MoreJohn Steinbeck s Of Mice And Men968 Words   |  4 PagesSolidifying the theme of John Steinbeck’s Of Mice and Men, the protagonist George expresses his significant loneliness despite a strong kinship with his friend Lennie, â€Å"’I ain’t got no people†¦ I seen the guys that go around the ranches alone. That ain’t no good’† (41). Published in 1937, amidst the horrific turmoil of the Great Depression, Steinbeck’s novella struck a sensitive chord with readers. Set in the heart of California’s Central Valley, this story follows two men, George and Lennie, as they

How To Stop Anti-Study Procrastination (part 1) Free Essays

You have a deadline looming. However, instead of doing your work, you are squandering your time online, checking email, browsing social media, watching videos, surfing blogs and forums. You know you should be working, but you just don’t feel like doing anything. We will write a custom essay sample on How To Stop Anti-Study Procrastination (part 1) or any similar topic only for you Order Now We are all familiar with the procrastination phenomenon. When we procrastinate, we squander away our free time and put off important tasks we should be doing them till it’s too late. And when it is indeed too late, we panic and wish we got started earlier. Delaying, putting off things, slacking, hiding from work, facing work only when it’s unavoidable, then repeating this loop all over again. Follow our tips below and don’t let procrastination take over your life. 1) Break your work into little steps. Part of the reason why we procrastinate is because subconsciously, we find the work too overwhelming for us. Break it down into little parts, then focus on one part at the time. If you still procrastinate on the task after breaking it down, then break it down even further. Soon, your task will be so simple that you will be thinking â€Å"gee, this is so simple that I might as well just do it now!†.For example, if you’re currently writing a dissertation or essay, break it down into phases such as – (1) Research (2) Deciding the topic (3) Creating the outline (4) Drafting the content (5) Writing Chapters #1 to #10, (6) Revision (7) etc, suddenly it seems very manageable. 2) Change your environment. Different environments have different impact on our productivity. Look at your work desk and your room. Do they make you want to work or do they make you want to snuggle and sleepIf it’s the latter, you should look into changing your workspace. One thing to note is that an environment that makes us feel inspired before may lose its effect after a period of time. If that’s the case, then it’s time to change things around. 3) Create a detailed timeline with specific deadlines. Having just 1 deadline for your work is like an invitation to procrastinate. That’s because we get the impression that we have time and keep pushing everything back, until it’s too late. Break down your project (see tip #1), then create an overall timeline with specific deadlines for each small task. This way, you know you have to finish each task by a certain date. Your timelines must be robust, too – i.e. if you don’t finish this by today, it’s going to jeopardize everything else you have planned after that. This way it creates the urgency to act. 4) Eliminate your procrastination pit-stops If you are procrastinating a little too much, maybe that’s because you make it easy to procrastinate. Identify your browser bookmarks that take up a lot of your time and shift them into a separate folder that is less accessible. Disable the automatic notification option in your email client. Get rid of the distractions around you. We know some people will out of the way and delete/deactivate their facebook accounts. That can be a little drastic/extreme as addressing procrastination is more about being conscious of our actions than counteracting via self-binding methods, but if you feel that’s what’s needed, go for it. Join us next week as we look at another set of key tips for avoiding procrastination. How to cite How To Stop Anti-Study Procrastination (part 1), Essay examples

Friday, April 24, 2020

Penguins2 Essays - Flightless Birds, Penguins, Adlie Penguin

Penguins2 The penguin (Sphenisciformes) has been a fascination to numerous people including scientists and researchers alike. They have distinctive characteristics and an interesting classification system. Their eating habits, unique way of breeding and predators are just a way of everyday life that fascinates scientists and researchers. The species status still remains in danger and can hopefully be helped. This unusual bird stands on short legs and walks with a clumsy waddle. These birds cannot fly which is how they got to be called Penguins, which means flightless. All species of penguins have short-bodies and necks. They also all have short thick feathers, which form a kind of waterproof coat. Most penguins feathers have feathers that are just white on the stomach and are black and blue on the back. Some have patches of brightly colored feathers on their necks. Theses birds keep warm from the harsh Antarctic conditions by thick layers of fat on their bodies. Their wings developed into flippers, which serve as paddles to help propel them in the water. They also have webbed feet which when combined with the flippers make them excellent swimmers and divers. The species are divided into four groups for easy identification. The groups are as follows, I. Large, with orange or yellow patches on the sides of the upper neck (Species 1-2). II. Medium-sized, crested with orange or yellow lines on each side of the crown above the eyes (Species 3-8). III. Medium-sized, with no crest or yellow colour on the head, but usually with stripes of white or black on the head or breast (Species 9-14). IV. Small, with out crest or yellow colouring on heads (Species 15-17) (Alexander 148). An example of each is as follows: Group I, the Emperor penguin. Group II, the Royal penguin. Group III, Adelie penguin and Group IV, the Whit-filppered penguin. The Emperor penguin is the largest penguin with the most southern range. The top of the head, chin, cheeks and throat are black, with a broad orange semicircle patch on each side of the upper neck. They have a long bill, which curves down, and a short tail composed of 20 feathers. The Royal penguins neck, chin, and throat are white. They have a broad orange band across the forehead and a short tail consisting of 14 feathers. The main difference of this type of penguin as with the others is having white on the chest and throat. In group III, the Adelie penguin has a black throat, head, and cheeks. Their eyelids and under parts are white. They have a short bill and a very long tail consisting of 14 feathers. This type of penguin walks very slowly with a waddle. When on snow or ice, it travels on its breast using its flippers and feet for motion. In group IV, the White-flippered penguin, as inferred by its name is all white except for a light greyish-blue on its under parts. While their may be many different physically looking types of penguins, they all have similar eating and breeding habits. All penguins eat fish. For example, the Emperor penguin has short wings which enables them not to fly, but are used for fast and quick underwater motion. They can dive from up to 250 meters, which makes them the deepest divers of the penguin species. Most penguins eat krill and surface fish, but this enables them to eat other types. Even though most penguins live in southern areas where they have short summers and their food is limited by sea ice and krill is their only source of food. Even though penguins spend much of their life in the water, they lay eggs and raise their young on land. For the later purpose they come ashore on islands on desolate coasts and hop, run, waddle or scramble over rocks, and even up hillsides to their breeding grounds or rookeries (Alexander 147). All four species have a different type of breeding process. For example, the Emperor and Adelie penguin have similar, yet different types of breeding behavior. The Emperor females lay only in egg in June and then they get up to leave for the sea. It is then up to the males to do the rest. They pick up the

Tuesday, March 17, 2020

Free Essays on Clinical Case Study Hypertension

Clinical Case Study-Hypertension- Name: Age: 66 Gender: Female Symptoms and complaints reported: Abrupt loss of vision and difficulty speaking. Reported sudden loss of strength and co-ordination(mostly in left side)accompanied by loss of balance. [The patient had suffered a stroke]. Because the clinical manifestations of hypertension cannot be diagnosed, it can only be recognized when complications occur in target organs, such as the heart in this instance. Medical History: Has history of high blood pressure and high cholesterol. Sedentary lifestyle. Heavy smoker. Absence of all other major illnesses noted. Family History: No siblings. Father is a heavy smoker and has had two strokes in the past three years. Mother suffers from obesity. Grandparents died of old age and not of a major illness. No other major illness noted. Social History: No heavy drinking. Smokes 2-3 packs of light cigarettes daily. Sedentary lifestyle. Lives alone. Works full time as sales executive. Physical assessment: High blood pressure of 130/95. High cholesterol. Overweight (height is 180cm at 120kgs. Pulse is 95bpm. Temperature is 36.6C. Respiratory rate is 18. Patient is somewhat confused and suffers from blurred vision, slurred speech and loss of balance. Tests: CT scan (Computed tomography (CT) scans are completed with the use of a 360-degree x-ray beam and computer production of images. These scans allow for cross-sectional views of body organs and tissues. CT scans are used to image a wide variety of body structures and internal organs. Since the 1990s, CT equipment has become more affordable and available. In some diagnoses, CT scans have become the first imaging exam of choice. Because the computerized image is so sharp, focused, and three-dimensional, many tissues can be better differentiated than on standard x rays. Common CT indications include: Â · Sinus studies. The CT scan can show details of a sinusitis, and bone fractures. Physician... Free Essays on Clinical Case Study Hypertension Free Essays on Clinical Case Study Hypertension Clinical Case Study-Hypertension- Name: Age: 66 Gender: Female Symptoms and complaints reported: Abrupt loss of vision and difficulty speaking. Reported sudden loss of strength and co-ordination(mostly in left side)accompanied by loss of balance. [The patient had suffered a stroke]. Because the clinical manifestations of hypertension cannot be diagnosed, it can only be recognized when complications occur in target organs, such as the heart in this instance. Medical History: Has history of high blood pressure and high cholesterol. Sedentary lifestyle. Heavy smoker. Absence of all other major illnesses noted. Family History: No siblings. Father is a heavy smoker and has had two strokes in the past three years. Mother suffers from obesity. Grandparents died of old age and not of a major illness. No other major illness noted. Social History: No heavy drinking. Smokes 2-3 packs of light cigarettes daily. Sedentary lifestyle. Lives alone. Works full time as sales executive. Physical assessment: High blood pressure of 130/95. High cholesterol. Overweight (height is 180cm at 120kgs. Pulse is 95bpm. Temperature is 36.6C. Respiratory rate is 18. Patient is somewhat confused and suffers from blurred vision, slurred speech and loss of balance. Tests: CT scan (Computed tomography (CT) scans are completed with the use of a 360-degree x-ray beam and computer production of images. These scans allow for cross-sectional views of body organs and tissues. CT scans are used to image a wide variety of body structures and internal organs. Since the 1990s, CT equipment has become more affordable and available. In some diagnoses, CT scans have become the first imaging exam of choice. Because the computerized image is so sharp, focused, and three-dimensional, many tissues can be better differentiated than on standard x rays. Common CT indications include: Â · Sinus studies. The CT scan can show details of a sinusitis, and bone fractures. Physician...

Sunday, March 1, 2020

Suspended Compounds in English Grammar

Suspended Compounds in English Grammar In English grammar, a suspended compound is a set of compound nouns or compound adjectives in which an element common to all members is not repeated. Also called suspensive hyphenation. A hyphen and a space follow the first element of a suspended compound. (A hyphen with a space after it is called a hanging hyphen.) Examples and Observations The festival starts with a parade, followed by the crowning of Little Miss Catfish, who is chosen by drawing a name from among the five- and six-year-old catfish princesses. (Bob Rashid, Gone Fishing. University of Wisconsin Press, 1999)The difference between the pre- and post-test scores is the so-called learning gain.More injuries are caused by falls from a three- or four-foot height than by falls from tall extension ladders.More than half of three- and four-year-old children in the U.S. attend preschool.Several arguments support the idea that there is a fundamental difference between short- and long-term memory.At the Paperback Exchange, books of all kinds can be exchanged for first- and second-hand books in English.Cyrus McCormick, the head of International Harvester, typified nineteenth- and twentieth-century industrialists understanding of manliness.​ Stylistic Advice: Suspended Compounds Do not use suspended compound adjectives unless space is limited. In a suspended compound adjective, part of the adjective is separated from the rest of the adjective, such as first- in first- and second-generation computers. If you must use suspended compound adjectives, include a hyphen with both adjectives. Avoid forming suspended compound adjectives from one-word adjectives. (Microsoft Manual of Style, 4th ed. Microsoft Press, 2012) Suspended compounds of the form water-based and -soluble paint are licit but likely to confuse readers; substitute water-based and water-soluble paint. (Amy Einsohn, The Copyeditors Handbook. University of California Press, 2000) Also See CompoundingCompound WordsSay Good-bye to the Hyphen

Friday, February 14, 2020

Variable Selection Essay Example | Topics and Well Written Essays - 250 words

Variable Selection - Essay Example They prefer when the stepwise selection method is used in the algorithm of data analysis programs such as SAS and SPSS. Based on my personal experience I think the author is correct, forward and backward selection produces better results in varied conditions as opposed to stepwise selection. A good selection technique that I have in mind will involve the use of estimation of empirical samples through the use of repeated sampling of data samples. This algorithm allows for the approximation of the distributed test statistics will be usable in small scale data where the large scale results may not hold. This algorithm is efficient because it helps solve the mistake of automated variable selection methods. There are other designed algorithms that are employed under various situations. One that is interesting is the Naà ¯ve Bayes which is based on the Bayes theorem. I think it is not an efficient algorithm because it generalizes samples which easily occurs to errors in analysis of the data