Analysis and Application_Unit 5 Essay Example | Topics and Well Written Essays - 500 words

Analysis and Application_Unit 5 - Essay Example The method has little freedom for flexibility because of the fixed question order. Thus, individuals may feel that the responses they have given do not fit any of the selected answers (Oatey, 1999). Close-ended questions are types of questions that limit the answers of the respondents to the survey. The participants are permitted to select from a pre-existing collection of dichotomous answers, (such as true/false or yes/no), or ranking scale response choices or multiple choice with options for â€Å"other† to be completed. On the other hand, open-ended questions are forms of questions that do not offer the respondents answers to select from, but instead, the questions are phrased such that the respondents are motivated to elaborate their reactions and answers to the questions with a paragraph or a sentence depending on the survey (Colorado State University, 2012). In this survey, close-ended questions were used, and they included questions such as â€Å"Does your (mother) (father) know who you are with when you are away from home? The response categories were usually, sometimes, or never (3, 2, 1, respectively)† (Jou, Levine, and Singer, 1993). The survey results offered a mixed support for the hypothesis made for the interactive impacts of heavy metal preference. Most of the hypotheses made in the survey were supported, and it was only in one hypothesis that support was little. The researchers found little support for their subcultural hypothesis. This indicates that the methods and approaches used in the survey were valid (Jou, Levine, and Singer, 1993). The questions concerning parental attachment and control were effective. This is because they gave information concerning the link between delinquency, and parental control and attachment. For instance, it was found that the rates of delinquency decreased where there was more control that is parental. However, concerning

The Importance of National Belonging in the Development of Nation States Essay Example for Free

The Importance of National Belonging in the Development of Nation States Essay Prior to the late 19th Century Europe consisted of many small states that lacked a sense of unity. The sentiment stirred up in the wake of the French Revolution; the idea of a sovereign people with natural rights and equality appeared attractive to many of these nations. Around this time Europe saw the emergence of Nation States encompassing a people who had a shared history, culture, language, religion and beliefs. How important this sense of national belonging was is something we shall explore by looking at events in such places as Germany, Italy and France. We will decide whether it was patriotism or other factors such as warfare and the rise of industry which had the biggest parts to play on the European stage. Above we have just described the common factors which contribute to making a nation; find one territory with specific boundaries and borders and fill it with these people and you would in theory have made a nation state. However the idea of national belonging is not quite so black and white, nor so easy an idea to prove. Ernest Renan, a noted theologian seemed to realise that rules about having a shared language or shared religion were simply not realistic when taking into account minority communities and religious toleration. Instead Renan makes allowances that in some areas factors such as these would be contributory but actually in his words ‘A nation is therefore a vast solidarity, constituted by the feeling of sacrifice one has made in the past and of those that one is prepared to make in the future. Renan continues stating that it is ‘the clearly expressed desire to pursue a common life. ’ This swing towards nationalism was sparked in part by the cultural movement which followed the Enlightenment period and was known as Romanticism. An era when poetry, music and art were increasingly used to influence the nation, the movement supported ideas such as the importance of national pride giving precedence to ‘senses and emotion over reason and intellect. German artist Caspar David Friedrich captured this sentiment in his painting The Oak Tree in Snow which depicted a barren tree with new life springing from the roots symbolising a lost past with the promise of future new growth. This was particularly poignant as the Oak Tree was a symbol for German national sentiment. Similarly in Italy the poet Ugo Foscolo wrote ‘How thou art humiliated by foreigners who have the presumption to seek to master thee! But who can depict thee better than he who is destined to see hy beauty all his life long? ’ Foscolo’s argued that tourists could not appreciate the greatness of his country, only those who could share in its history can take possession of the pride that accompanies the honour of being Italian. These two examples are interesting because at the time of their publication no Germany or Italy as we know them today yet existed so this at least proves that in the minds of those living by Romanticism values at least thought that national sentiment was desperately important. In addition to the evidence of Romanticism championing the unification cause Germany and Italy shared some other similarities. Firstly, and perhaps most obviously we can tell from studying a ‘before and after’ map. In 1815 Italy was a collection of many smaller states some of which we know were controlled by the Austrian empire and Germany is a jigsaw of German speaking states. However by 1914 clear boundaries had been drawn and both territories are much more obviously defined. Also both countries contained several nationalist activist groups, some public, some as secret societies who all had the same aim of achieving unity but for different reasons and with variations on the end result. In Italy the strength of opinion was such that some organisations were willing to use violence such as in the case of the Carbonari group who proclaimed ‘He alone is worthy of life who loves his country’. Revolutionary group Young Italy was also key in generating public support for the Risorgimento (Resurrection) nationalists. Germany also contained these pressure groups and parties from both countries took part in the rebellions of 1848 and while both had some success, yet another similarity is that both were eventually beaten back in Italy by Austrian intervention and in Germany by the Prussian King Frederick William IV. The revolutions swept across much of Europe leaving thousands dead in the name of unification. This however does not necessarily mean that it was patriotism or an unqualified sense of national belonging that drove them. Other considerations included for businessmen policies for reviving trade, students were concerned about poor job prospects and a lack of social status and peasants wanted an end to the last vestiges remaining of the medieval feudal system. For the peasants at least it is most likely this was their sole motivation as the concept of nationalism would have meant little to them in their daily struggle to feed and clothe their families. Both Germany and Italy appeared to be committed to unification and key figures helped to bring this about. In Germany Gottfried Herder significantly influenced public opinion with his philosophical ideas about human nature. Herder placed huge importance on national language ‘Has a people anything dearer than the speech of its fathers? ’ He goes on to say that the culture of a people ‘thrives only by means of the nation’s inherited and inheritable dialect. ’ This idea is so fundamental to Herder’s beliefs that he says ‘no greater injury can be inflicted on a nation than to be robbed of her national character, the peculiarity of her spirit and her language’. Herder however gives little consequence to the political aspects and it is possible therefore that the changes which inevitably took place in Germany were not due to his romanticism based contributions but this does tell us how strongly he felt about the importance of national sentiment. In Italy it was figures such as Count Camillo di Cavour who propelled the unification forward but his motives were much different from that of Herder. Cavour conspired with Napoleon III of France against the Austrians which resulted in several territories becoming part of Sardinia where Cavour happened to be Prime Minister. Giuseppe Garibaldi was a respected military commander throughout this period of war whose notable success was motivated by his vision of a united Italy. Unification of both countries was hardly plain sailing and problems arose for various reasons. Italy perhaps suffered because the reason for the unification had been more political than sentimental. Massimo d’Azeglio, a pro nationalist is believed to have said ‘We have made Italy, now we have to make Italians. ’ The death of Camillo di Cavour regardless of his motives was described as ‘the architect of national unity’ and his death in 1861 was a definitive blow to the cause. Germany’s problems centralized around regional rivalries with people confused as to whether they first belonged to their region or their country, this was certainly the case with some Bavarians. It has commonly been supposed that all of the events leading to unification of countries such as Germany and Italy and the revolutions that shook Europe were triggered in France by the revolution of 1789-1799 as can be seen in this statement; ‘The French Revolution completed the nation which became one and indivisible’. Many in France had sought an end to an absolute monarchy and what was deemed an autocratic domination by the French government. Instead they hoped for a shift towards modernity where all men would be equal under the law and have no special privileges simply because one happened to be born aristocratic or have an elitist position in society. The end of feudalism and the ‘ancien’ (old) regime gave way to new ideas summarised once more by Ernest Renan ‘It is France’s glory to have proclaimed, through the French Revolution, that a nation exists by itself The principle of nationhood is ours’. It would be reasonable then to suppose that France had enjoyed great success in providing a patriotic example that other countries hoped to follow and yet once again we find resistance and also some contradictions. While some supported unity for political reasons such as in the case of the Leon Gambetta, a French statesman who supported republicanism, he said in a letter to the leader of the Breton armed forces in 1870 ‘I beg you to forget that you are Bretons, and to remember only that you are French. While a novelist later in 1884 remarked ‘the word patrie signifies nothing and stirs nothing. It exists no more in local speech than in local hearts. ’ It is hard to assimilate all the opinions and motivations for why the French either supported or rejected the idea of national belonging but it does seem that the more urbanised areas, under the direction of intellectuals, students and politicians for their own agendas were more in favour of being ‘Frenchmen’ than those who resided in more isolated, rural communities occupied mostly by peasant farmers who wanted peace not war. Peasant farmers in particular were to suffer greatly when we consider how the rise of industry commonly termed as the industrial revolution were to affect national feelings. While the ending of feudalism had allowed some peasantry to buy small patches of land, for others, some who were affected by the enclosure laws could find themselves as landless labourers unable to grow their food or gather fuel from common land. In Britain the Chartism movement of 1839 sought to represent all workers who found themselves in a piteous position uniting opinion against social injustice. We are bowed down under a load of taxes our traders are trembling on the verge of bankruptcy, our workmen are starving, capital brings no profit and labour no remuneration. ’ Chartists and their Parisian counter parts the Artisans identified themselves as socialists. Obviously this was a time of great economic change and awareness of class distinctions at the time of the industrial boom was growing. Karl Marx was a German radical whose notion of Socialism was closely linked to that of Communism which he and his colleague Frederick Engels was active in promoting. Marx was particularly concerned about the struggle of society with relevance to these class distinctions. He highlighted in his ‘The Communist Manifesto’ ‘The history of all hitherto existing society is the history of class struggles’ Marx states that the working class (proletariat) and the new middle class (bourgeoisie) are fighting these ‘class struggles’ over the means of production. He claims that the bourgeoisie exploits the proletariat and was motivated by ‘naked self-interest. He goes on to say however that the lower bourgeoisie class will also suffer as the higher middle class overtake them too. ‘Partly because their diminutive capital does not suffice for the scale on which modern industry is carried on their specialised skill is rendered worthless by new methods of production. ’ Marx’s conclusion being that eventually the middle classes and the working class would find themselves in much the same situation and have more in common. This therefore was the significant factor pointing towards nationalism and not the sense of national belonging or sentiment itself. Having considered the factors which were successful in bringing about unification it appears that political reasons had the greater impact. Cavour enjoyed success in Italy through negotiations which involved war and gaining new territory. Herder in Germany relied on sentimental and romanticism theories but Germany encountered difficulties in rallying the nation who were confused about their regional or national identity. Educated French sectors of society were enthusiastic but failed to significantly influence the peasantry while radicals like Marx renounced any importance of the idea of national belonging. Still it is impossible to ignore that there were many individuals such as Foscolo, Friedrich and Garibaldi who shared a united vision of a united country but it is unlikely that their sense of national belonging was the major significant factor in the development of nation states.

Computer Storage: Are memory sticks and disks likely to be obsolete by

In the first quarter of 2012, a German business software firm (SAP) recorded a 10 per cent increase in profits from the previous year of  £478 million from cloud, a method of computer storage (SAP sounds upbeat note as profits continue to rise, 2012). It is clear that methods of storing data on computers have developed rapidly in the past 60 years, from the earliest type of data storage on cylinders to data storage in cloud. The purpose of this essay is to describe this development and show that individual physical memory such as memory sticks and disks are rapidly becoming a thing of the past. By way of background, before the invention of computers, various methods had been used to store and retrieve data. For example, 1725 saw the invention of the ‘punch card’ widely used in looms and in primitive calculating machines. Although this was a significant development in storage, these cards were not made â€Å"general purpose† until 1928. The need to store and retrieve data as one continuous stream and not individual cards brought about the invention of the punch tape in 1846. In 1877, Thomas Edison invented a device known as the ‘Phonograph’. This device recorded sound vibrations on a metal cylinder with a recording needle and played the recordings back when needed. These storage developments served as a background for the development of computer storage. Professor Federick C. Williams and colleague Tom Kilburn developed the first random access computer memory in 1948 known as the ‘Williams-Kilburn tube’. This device allowed for storage of 1024 bits but was later upgraded to 2048 bits. In 1951 the ‘Delay line memory’ was invented. This form of memory consisted of a column of mercury with piezo crystal to aid in the transfer of data. W... ...owstuffworks.com/cloud-computing/cloud-storage.htm on 8 May 2012. - Paul Lilly. (3 February 2009). Computer Data Storage Through the Ages – From Punch Cards to Blu-Ray. Retrieved from http://www.maximumpc.com/article/news/computer_data_storage_through_ages on 8 May 2012. - Pingdom. (8 April 2008). Retrieved from http://royal.pingdom.com/2008/04/08/the-history-of-computer-data-storage-in-pictures/ on 8 May 2012. - Retrieved from http://cs-exhibitions.uni-klu.ac.at/index.php?id=187 on 8 May 2012. - Ryan Nichols (31 August 2010). Cloud computing by the numbers: What do all the statistics mean? Retrieved from http://blogs.computerworld.com/16863/cloud_computing_by_the_numbers_what_do_all_the_statistics_mean on 24 May 2012. - SAP sounds upbeat note as profits continue to rise. (25 April 2012). Retrieved from http://www.bbc.co.uk/news/business-17836653 on 8 May 2012. Computer Storage: Are memory sticks and disks likely to be obsolete by In the first quarter of 2012, a German business software firm (SAP) recorded a 10 per cent increase in profits from the previous year of  £478 million from cloud, a method of computer storage (SAP sounds upbeat note as profits continue to rise, 2012). It is clear that methods of storing data on computers have developed rapidly in the past 60 years, from the earliest type of data storage on cylinders to data storage in cloud. The purpose of this essay is to describe this development and show that individual physical memory such as memory sticks and disks are rapidly becoming a thing of the past. By way of background, before the invention of computers, various methods had been used to store and retrieve data. For example, 1725 saw the invention of the ‘punch card’ widely used in looms and in primitive calculating machines. Although this was a significant development in storage, these cards were not made â€Å"general purpose† until 1928. The need to store and retrieve data as one continuous stream and not individual cards brought about the invention of the punch tape in 1846. In 1877, Thomas Edison invented a device known as the ‘Phonograph’. This device recorded sound vibrations on a metal cylinder with a recording needle and played the recordings back when needed. These storage developments served as a background for the development of computer storage. Professor Federick C. Williams and colleague Tom Kilburn developed the first random access computer memory in 1948 known as the ‘Williams-Kilburn tube’. This device allowed for storage of 1024 bits but was later upgraded to 2048 bits. In 1951 the ‘Delay line memory’ was invented. This form of memory consisted of a column of mercury with piezo crystal to aid in the transfer of data. W... ...owstuffworks.com/cloud-computing/cloud-storage.htm on 8 May 2012. - Paul Lilly. (3 February 2009). Computer Data Storage Through the Ages – From Punch Cards to Blu-Ray. Retrieved from http://www.maximumpc.com/article/news/computer_data_storage_through_ages on 8 May 2012. - Pingdom. (8 April 2008). Retrieved from http://royal.pingdom.com/2008/04/08/the-history-of-computer-data-storage-in-pictures/ on 8 May 2012. - Retrieved from http://cs-exhibitions.uni-klu.ac.at/index.php?id=187 on 8 May 2012. - Ryan Nichols (31 August 2010). Cloud computing by the numbers: What do all the statistics mean? Retrieved from http://blogs.computerworld.com/16863/cloud_computing_by_the_numbers_what_do_all_the_statistics_mean on 24 May 2012. - SAP sounds upbeat note as profits continue to rise. (25 April 2012). Retrieved from http://www.bbc.co.uk/news/business-17836653 on 8 May 2012.

Book One of John Milton’s Paradise Lost: Satan as Hero Essay

In literature and other forms of art, the character of Satan had always been depicted as nothing more than an evil entity. He was usually represented as the Devil, the creature capable of the ultimate form of wickedness. He was known to be against the Supreme Good, for he was the angel who initiated a rebellion against God. In various stories and movies, Satan had always been depicted as this static character. However, the depiction of Satan in Book One of John Milton’s â€Å"Paradise Lost† was truly an exception to the stereotype. In the first part of his epic, Milton showed the readers that Satan had positive traits, though he used it in a negative way. Contrary to the usual portrayal of the persona of Satan, John Milton depicted Satan as a heroic character in Book One of â€Å"Paradise Lost†. What makes a character heroic? One feature which makes a hero is a commanding presence. Heroes in literature, such as Achilles and Odysseus, are characterized with remarkable strength. These are individuals who possess imposing, if not dominant, personalities. It is their commanding presence which allows them to lead their men effectively, as it renders them as figures of authority. Combs wrote, â€Å"Heroic qualities reside in some larger-than-life figure who committed great deeds in a mythical past† (26). While Satan’s deeds can only be considered great in his own opinion, it cannot be denied that he was rendered by Milton as a larger-than-life creature in Book One. Milton presented Satan as a hero to the readers by showing how massive and mighty he is. To demonstrate the size and strength of Satan, the narrator of the poem used an analogy with reference to Greek mythology. Satan was depicted as similar to the titans who fought against Jove. Milton wrote, â€Å"Lay floating many a rood, in bulk as huge/ As whom the Fables name of monstrous size,/ Titanian, or Earth-Born, that warr’d on Jove† (I. 196-198). Milton also compared Satan to the Leviathan, which he described as â€Å"hugest that swim th’ Ocean stream† (I. 202). Indeed, the author had established Satan to be larger-than-life in the epic. Satan is considered as a heroic character in Book One because of his commanding presence. Another trait which a hero must possess is courage. Heroes are known to be courageous figures, those who remain unnerved during difficult struggles or when confronted with the inevitable. Satan is a heroic character in Book One of â€Å"Paradise Lost† because of the courage he displayed. He proved to be courageous because he displayed unshakeable resolve amidst trying times. It is known that Satan used to be an angel who sought to overpower God. He gathered his followers and rebelled against Him, only to fail in their selfish pursuit. As a result, Satan and the other angels were sent to Hell. Hell proved to be most unpleasant compared to Heaven. While there was a fiery lake in Hell, its flames gave off darkness instead of light. Milton wrote, â€Å"As one great Furnace flam’d, yet from those flames/ No light, but rather darkness visible† (I. 62-63). While a weaker personality may have given up on such dire situation, Satan was undaunted by his present dilemma. Instead of being dragged down by his fall from grace, he embraced his place in Hell. Satan remarked, â€Å"To reign is worth ambition though in Hell:/ Better to reign in Hell, then serve in Heav’n† (I. 262-263). In addition, Satan’s fall from grace did not diminish his determination in his pursuit of evil. God may have defeated Satan in the rebellion, but the Supreme Deity did not defeat his will to fight. Satan said, â€Å"All is not lost; the unconquerable Will,/ And study of revenge, immortal hate,/ And courage never to submit or yield:/ And what else not to be overcome? † (I. 106-109). Hence, Satan is a hero because of the courage he displayed. Also, Satan appeared to be a hero in the first part of Milton’s epic poem due to his bravery. How did Satan exhibit bravery in Book One? Satan proved himself to be a brave character because he did not reveal fear even though he was confronted with danger. After the angels failed in their revolt against God, some of Satan’s comrades have lost hope. For instance, Beelzebub was greatly disheartened by the defeat. Their failure convinced him of God’s power. Beelzebub told Satan: â€Å"Fearless, endanger’d Heav’ns perpetual King;/ And to put to proof his high Supremacy† (I. 131-132). Unlike his companion, Satan still wanted to challenge God’s power. He does not regret initiating the war, and still wanted to execute another battle. Satan wanted to wage a second war against God, hoping that the next attempt would be more successful. He uttered, â€Å"We may with more successful hope resolve/ To wage by force or guile eternal Warr/ Irreconcileable, to our grand Foe† (I. 120-123). Satan is a heroic character in Book One of Paradise Lost because he was unafraid to face an enemy stronger and more powerful than him. The three aforementioned traits truly render Satan as a heroic character. With those three traits, Satan would follow the tradition of other heroes in literature. Milton made Satan appear as a warrior hero with the other angels as his comrades. However, it cannot be denied that there would be instances wherein the other warriors are discouraged by the outcome of their battles. Therefore, it would be the responsibility of the leader to motivate the rest and make them continue on in the path they chose to travel. In this case, Satan again proved to be a heroic character in Book One. He was heroic because he asserted his leadership and convinced the other angels to do as he pleased. Satan had a plan against God and despite the defeat, he never strayed from it. In contrast, the other angels had become weary of their situation. It became Satan’s task to uplift his followers and make them believe in his plan. When Beelzebub was discouraged after hearing Satan’s suggestion of another attack, the latter gave a speech to convince the former. Satan said, â€Å"To do ought good never will be our task,/ But ever to do ill our sole delight† (I. 159-160). His optimism over his grand scheme against goodness was so persuasive that the other fallen angels had obeyed his orders. Because he was a leader who kept his followers on the path towards his desired end, Satan can be considered as a heroic character. In Book One of â€Å"Paradise Lost†, Milton truly painted a rare picture of Satan. He made one of the most despicable characters in history as an appealing character. Satan became appealing to the readers because Milton’s depiction paid more attention on his positive qualities. His larger-than-life persona, as well as his courage, bravery and leadership, made Satan an admirable individual. Moreover, not only did Milton make Satan appealing, he made him sympathetic as well. It is obvious that Satan had questionable logic; his arguments were flawed. Despite this, he was still able to persuade the other angels. He was also able to make the readers sympathize to his cause, no matter how wicked it was. When Satan first spoke in Book One, he described the fallen angels’ undesirable state in Hell. His words persuaded the readers of God’s wrath. Satan said, â€Å"He with his Thunder: and till then who knew/ The force of those dire Arms? † (I. 93-94). From his speech, Satan allowed the readers to think that God was at fault and his actions against Him were justified. Nevertheless, the text itself is proof of Satan’s free will. Satan was free to act as he pleased, and he chose to gather his followers and rebel against God. Satan was the one at fault because he was made free but he decided to use his freedom for evil. Therefore, while Satan may seem to be a heroic character, it does not mean that he was not flawed. Unlike most accounts of Satan, Book One of â€Å"Paradise Lost† proved to be different. John Milton deviated from the stereotype and presented Satan as a heroic figure. He made Satan as a commanding character who was courageous, brave and convincing to others. As a result, Milton depicted Satan as a character with redeeming qualities. However, these redeeming qualities are not enough to make him a perfect persona. Indeed, Satan is portrayed as a heroic character in Book One of â€Å"Paradise Lost† by John Milton. Works Cited Combs, James E. Polpop: Politics and Popular Culture in America. Wisconsin: Popular Press, 1984. Milton, John. â€Å"Paradise Lost. † University of Oregon Web Site. 1997. 17 July 2009 < http://darkwing. uoregon. edu/~rbear/lost/lost. html>.

Managerial Accounting Case Essay

In the Seligram case, the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost, which is the overhead, was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden rate is obsolescent. First of all, direct labor hours per lot tested had been steadily declining, especially with the increase of dependence on vendor certification. This will result in the change of the burden rate. Besides, this system distorts the price to some extent, making the price for complex parts cheaper while price for elementary testing higher compared with price for outside services. What is more, the consequences brought from the introduction of high -technology components would decrease the direct labor hour. All of this was trending to higher burden rates and overall hi gher rates. Cost allocation based on current burden rate of 145% is calculated within the Exhibit1. Having noticed of the problems of the existing system, the accounting manager proposed a two-burden-pool method to allocate the burden cost. Under the two-burden-pool method, burden cost has been divided into two pools: one is the burden cost related to the administrative and technical functions and the other is test related burden. The former is calculated based on direct labor dollar, the latter one is calculated by using machine hours. This method takes other factors that cause the burden into account, which makes the cost allocation more accurate than the existing method. The result of two-burden-pool is as the follows. The consultant proposed a more detailed cost allocation method, i.e. separate burden centers from each of each test room and common technical and administrative pool so that a three-burden-pool is formed. Under this method, burden cost in test rooms would be allocated on a machine-hour basis, and technical and administrative costs would continue to be charged on a rate per direct labor dollar. This method is more accurate in allocating the burden cost by providing a cost of each product or job. Through this way, ETO could differentiate client and product and calculate the cost more accurately from direct data such as the machine hour to product a certain product, so that they need not to guess the real cost of that product by allocating cost according to estimation. Besides, due the process of automatic, direct labor dollar amount alone could not reflect the real picture of burden cost as before. So it is necessary to take other related factor into account when allocating burden cost and more detailed analysis of the allocation basis is needed. The allocation result of three-burden-pool is listed below: Since the three-burden-pool system is most accurate in allocating burden cost among those three methods, it is preferable. However, it does not mean the three-burden-pool system is perfect. Because this system provides more accurate and detailed information of the production process, it will cost more than the other two methods. In addition, the redesign of the three-burden-pool system could be expensive too due to the complexity of the system. In order to improve this system, ETO needs to pay attention of the relationship of cost and benefit. Besides, ETO could set up a system that is easy and effective to perform to save the cost of implicating three-burden-pool. Besides the consideration of proposed cost allocation methods, Seligram should also arrange the new equipment into an appropriate cost pool which indicates a more reliable estimation. Assuming that new equipment has a separate cost center, all variable cost, fixed cost and depreciation will be reported separately. The burden rate is only based on the machine hours of new equipment which are 400hr (Year1) and 2400hr (Year2-8). Additionally, we use Double-decline method for depreciation. Balance is shown in Exhibit4. The separate burden rate for Year 1 would be much higher than those in the following years due to set up costs (Exhibit 5). Burden rates combined with main testing room are calculated in Exhibit 6. All combined burden rates are much lower than the separate costing rates. We recommend choosing a separate cost center for new equipment, even though the rates are much higher. Due to the current situation that lower costs for more complex components, which is abnormal, separate method would reflect more accurate and reliable costs of new imported machines. Obviously, combined method would influence the presentation of true costs. The costs are reduced by other factors in main testing room. Higher burden rates are more reasonable that these new machines have higher cost in essence and also they are just for testing components from several specific clients. Higher burden rates are more accurate.

Definition and How to Handle an Adjustment Letter

Definition and How to Handle an Adjustment Letter An adjustment letter or a claim adjustment letter is a written response from a representative of a business or agency to a customers claim letter. It explains how a problem with a product or service may (or may not) be resolved. How to Handle the Response If your business has received a claim letter from a customer, youll want to handle your response diplomatically and with the proper  you attitude  to quickly and effectively repair or prevent any damage to your reputation. Even if the complaint cant be resolved exactly as the customer wishes or you have to give bad news, you want to still take a positive, professional tone.   Andrea B. Geffner illustrates further: An  adjustment letter  should begin with a positive statement, expressing sympathy and understanding. Near the start, it should let the reader know what is being done, and this news, good or bad, should be followed by an explanation. The letter should end with another positive statement, reaffirming the companys good intentions and the value of its products, but  never  referring to the original problem.Whether or not your company is at fault, even the most belligerent claim should be answered politely. An adjustment letter should  not  be negative or suspicious; it must  never  accuse the customer or grant any adjustment grudgingly. Remember, your companys image and goodwill are at stake when you respond even to unjustified claims.​ (How to Write  Better  Business Letters, 4th ed. Barrons, 2007) Be careful to never promise something your company cant deliver (or a deadline you cant meet), or that will only compound the problem. Convey to your customer that you do have his or her interest in mind, and keep the door open to keep their business and for better success in the future. Even as times change, some things remain true. Good business advice hasnt changed in the last 100 years, as evident from advice given by O.C. Gallagher and L.B. Moulton in Practical Business English, from 1918:   Any showing of ill-feeling or anger in your adjustment letter will defeat its purpose. Indifference toward the customers complaint or delay in answering it is likewise fatal to further business relations. The you, not the I, attitude will put the offended customer in good humor, and open the way for a pleasant settlement of the complaint. An adjustment letter characterized by the  you attitude  becomes a sales letter. Dealing With Internet Complaints The same type of advice also applies to dealing with complaints or poor reviews levied against businesses on the internet or via social media. You still need to be diplomatic in your response. Speed in diffusing a complaint is of the essence- but not hastiness. Remember that anything you type in an electronic message or post can be copied and forwarded for the world to see, and its really difficult to completely delete something after posting it online or hitting send.Have someone proofread it and check for cultural sensitivity or other potential pitfalls before putting it out there.Cut to the chase- keep the public-facing text short and to the point.  Always have a cool head when responding to criticism online or else the problem can spiral. Any text online affects your brand and reputation. A successful resolution to a complaint or claim also has the ability to spread far and wide, though likely not as fast or widely as a poor review or complaint, unfortunately.   Sources Gerald J. Alred, Charles T. Brusaw, and Walter E. Oliu, The Business Writers Handbook, 10th ed. Macmillan, 2011. Philip C. Kolin, Successful Writing at Work, 9th ed. Wadsworth Publishing, 2009.

Coursework on Alternative Financial Investments The WritePass Journal

Coursework on Alternative Financial Investments Intoduction Coursework on Alternative Financial Investments IntoductionAlternative InvestmentsVenture Capital TrustsEnterprise Investment SchemeHedge FundsAgriculturalLivestock and MeatEnergyPrecious MetalsIndustrial MetalsPropertyREITSInvestor BenefitsRisks of REITSFine Art Fine WineShort Answer QuestionsQuestion 1.   The disadvantages of repaying debts by encashing investments are:Question 2Question 3BenefitsDrawbacksBibliographyRelated Intoduction Alternative Investments We are all familiar with the usual suspects when it comes to investments with ISA’s Unit Trusts, OEICS, Capital Investment Bonds, Investment Trusts, National Savings and General Banking Products being the general fare when it comes to advising our clients. However whilst these products often can and do achieve the desired results there are many   alternatives investments available that offer a wider choice and variety which can be used instead of or to complement mainstream products. Lets look at these alternatives and see what benefits they have and of course any drawbacks associated with them. The AIM Market (Alternative Investment Market) â€Å"AIM is the most successful growth market in the world. Since its launch in 1995, over 3,000 companies from across the globe have chosen to join AIM. Powering the companies of tomorrow, AIM continues to help smaller and growing companies raise the capital they need for expansion† (www.londonstockexchange.com/companies-and-advisors/aim.htm 18/02/2011). Aim is the international market for growing companies trading on the London Stock Exchange. Businesses you will find range from new venture capital-backed companies to well established, mature organisations looking to expand into a wider market. Created in 1995 by the London Stock Exchange principally to offer a diverse range of smaller companies the opportunity to sensibly raise capital in a regulated market, hence AIM has developed into a highly flexible public market easily accessible to both investor and company. Aim companies come from 37 sectors, 90 sub-sectors and 26 countries. It has over 250 companies from outside the United Kingdom, with many more joining every year, which is testament to the viability of the AIM market as a place fro the younger international companies wishing to fund expansion and raise their global profile. Aim is an exchange Regulated Market and enjoys a reputation for effective regulation: it offers a secure yet flexible trading environment for both companies and investors. Aim is wholly owned and run by the London Stock Exchange and has three investment indices – the FTSE AIM UK50, FTSE AIM 100 and the FTSE AIM ALL-SHARE Supersector Indices Investors wishing to buy or sell shares in AIM stocks will deal through a stockbroker in a traditional way. However, whilst dealing in the shares in an execution-only basis may be relatively straightforward; those investors who want advice may have to be more selective. There are some brokers with specialist knowledge of AIM stocks and which spend a considerable amount of time researching the AIM market. It clearly makes sense for investors to deal via such brokers so as to take advantage of there expertise. Due to the tax breaks which are currently available, many brokers run specialist portfolios which have been set up with the intention of mitigating Inheritance Tax. (IHT). The shares after being held for at least two years qualify for Business Property Relief and therefore as long as they are held until death after the two year period will be fully exempt from IHT. If the purchaser is married or in a civil partnership and they die prior to the two year period, the shares may be transferred to the spouse or civil partner so that they may retain the shares until their own death so that the two year requirement may be exceeded. Capital Gains Tax (CGT) is payable in respect of sales of AIM stocks and any losses can be set off against losses in the usual way. â€Å"The AIM market should be regarded as higher risk as AIM market shares tend to be relatively illiquid and therefore may be difficult to sell or obtain reliable information as to the value and the risks to which the shares are exposed. A company on AIM can elect to revert to private status, in which case the shares may become impossible to trade or value and the protections offered by AIM will cease to apply† (www.rensburg4ifas.co,uk/   Iht for Ifas v 3.2-07/10 7323) â€Å"Every AIM company is supported, advised and monitored by its own Nominated Adviser (NOMAD). Firms that wish to act as Nomads must undergo stringent checks before they can be authorised to become a London Stock Exchange-approved Nomad for AIM. These Checks ensure the suitability both of Nomads and of the companies they assist to operate as part of AIM, bringing investors increased certainty and security† (http:///www.aimslisting.co.ukindex.php/page/The-Aim-Market 25/02/2011). Venture Capital Trusts â€Å"The Venture Capital Trust   scheme started on 6th April 1995. It is designed to encourage individuals to invest directly in a range of small higher-risk trading companies whose shares and securities are not listed on a recognised stock exchange, by investing through Venture Capital Trusts (VCTs). So, if you invest in a VCT, you spread the investment risk over a number of companies† (www.hmrc.gov.uk/guidance/vct.htm 18/02/2011). VCT’s have to be approved by HMRC and once given offers a   unique tax break, in that as long as you hold ordinary shares for at least 5 years from the date of purchase 30% income tax relief is payable, therefore a  £200,000 investment held for 5 years, if it had not grown or fallen in value would be valued at  £260,000. In addition there is no liability to Capital Gains Tax on disposal. The benefits to individuals investing in a Venture Capital Trust include not only the opportunity to participate in the growth the unquoted investment portfolio but also to enjoy the valuable tax benefits on an investment of up to  £200,000 in each tax year. This type of investment should be seen as medium to long term and the capital value is not guaranteed. Enterprise Investment Scheme The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase shares in those companies. The EIS is a concession by HMRC whereby an investor can invest between  £500 and  £500,000 in an EIS company in a single tax year and claim the income tax relief at 20%. Furthermore, providing the shares are held for 3 years, then there is no Capital Gains Tax on the eventual disposal. â€Å"All shares must be paid up in full, in cash, when they are issued. They must be â€Å"full risk† ordinary shares, with no preferential rights to dividends, or to the companies assets in the event of winding up. There must also be no arrangements to protect the investor from the normal risks associated with investing in shares and no arrangements for the shares to be purchased by anyone else after the end of the relevant period† (www.hmrc.gov.uk/guidance/eis.htm 02/02/2011) Investment can be directly into the company or through an EIS Fund. If you invest through an EIS fund, the fund manager will invest on your behalf in a number of qualifying companies. You are still the owner of the shares. Hedge Funds    Hedge funds are collective investments that aim to make money whether the market is moving up, down or sideways. Unlike Unit Trusts, Oeics or Investment Trusts, which tend to only grow when shares rise, hedge funds can make money when share prices are falling.They do this using a range of complicated specialist techniques. The most commonly used is going long or short on a share. Most private investors simply go long on a share, buying in the hope that the price will rise.Where an investor goes short, they believe that the equity will fall in value. There are two main ways a hedge fund can do this. The first is by â€Å"shorting† the stock, where the investor â€Å"borrows† a stock to sell it, with the hope that it will decrease in value so they can buy it back at a lower price and keep the difference. For example, if an investor borrows 500 shares of X   company   at  £10 each, they would then sell those shares for  £5,000. If the price falls to  £8 per share, the investor would buy the shares back for  £4,000, return them to the original owner and make a profit of  £1,000. These funds now reportedly manage over  £750bn of clients money and their highly-paid managers can achieve remarkable returns.Hedge funds are not restricted to equities, they will invest in anything that will make a profit, including Foreign currency, Bonds, or Commodities. The return achieved by the fund is likely to be dependent on the skill of the manager rather than the underlying economic conditions and that is why they are so highly paid.At the moment Hedge funds are only available to high wealth individuals who are prepared to invest around  £500,000, or to professional investors, such as Pension Funds or Insurance Companies.If individual investors want exposure to hedge funds, they can purchase shares in the companies that operate the funds.Hedge Funds are regarded as high risk investments as many funds are â€Å"leveraged† which means they borrow money to add to their fund rather than just using investor capital.Because the funds use Derivatives, where they bet ag ainst the future value of an asset, rather than purchasing the asset directly, the funds are effectively borrowing money.The result is that gains and losses are magnified, with some making huge profits, but if things go wrong the fund can go bust. The majority of Hedge Funds are domiciled offshore for tax reasons, but the UK based managers are fully regulated by the Financial Services Authority. (FSA).However the FSA does not regulate the funds themselves and if a fund goes bust, investors do not have any recourse to compensation. Commodities â€Å"A physical substance, such as food, grains, metals, which is interchangeable with another product of the same type and which investors will buy or sell usually through futures contracts† (londonstockexchange.com/focus-on/018-commodities. 07/03/2011) The Commodity Markets are markets were raw or primary products are exchanged. They are traded on regulated commodity exchanges, in which they are bought and sold in standardised contracts. Commodities investing is volatile, promising big gains and capable of big losses. But this volatility can work in your favour in a broad investment portfolio, where a small amount of commodities can offset risks associated with stocks, bonds and cash. Commodities can be an excellent way to diversify your portfolio, especially if you believe that stocks are heading downwards for the next few years. The Commodities traded include: Agricultural Corn, wheat, oats. Livestock and Meat Cattle, Pigs Energy Crude oil, natural gas, heating oil. Precious Metals Gold, platinum,palladium. Industrial Metals Copper, zinc aluminium. Trading is normally via Futures Contracts, which is basically an agreement to buy now, pay and deliver later. In essence, a futures contract is a standardised forward contract in which the buyer and the seller accept the terms in regards to the product, grade , quantity and location and are only free to negotiate the price. Commodities are regulated and authorised by the FSA in the UK and Investing in commodities is normally done through a stockbroker or a   commodities broker. Property Property can be a very attractive asset to include in any investment portfolio – especially as it often performs well when stock markets are going through an unstable period. Over the long term, property has been proven to outperform   most sectors, so it might be a good bet even when share or bond prices fall. Of course, property markets can still be volatile, as shown by recent events. However, the best property funds will spread their exposure across many property areas. For example a property fund could give you access to the commercial property sector as well. This may include retail premises, office space and warehousing. Property funds remain one of the most practical ways to gain exposure to the property sector, some invest in actual bricks and mortar, while other funds may include shares in property companies or property securities know as real estate investments trusts. (REITS). Investments in funds of this nature are subject to specific risks arising from investment in REITs and property related securities and investors should ensure that they full understand these.    REITS A REIT is a company that owns and manages property on behalf of shareholders. A Reit can contain commercial and/or residential property. REITs provide a way for investors to access property assets without having to buy property directly in the UK REITs can apply for â€Å"UK-REIT† status, which exempts the company from corporation tax. It is an investment through buying shares in a listed property company that has elected for REIT status and operates in accordance with REIT regulations. The REIT regulations are intended to ensure the company is primarily engaged in property investment, rather than in development or other non property related activities. Most UK REITs focus on the UK, though a few have European investments. Investor Benefits REITs can be very tax efficient, as the property company pays no corporation or capital gains tax on the profits made from the property investment. As a condition of these tax breaks REITs must pass 90% of their taxable income through to shareholders. As the real estate appreciates in value, the REIT becomes more valuable and the share price may rise. REITs can also offer predictable income streams because of long term lease agreements. Also as REITs trade like stocks, you can get into and out of them with ease.       Risks of REITS However as stated earlier there are risks associated with REITs and investors need to approach them with these in mind. Most REITs focus on particular types of commercial development, such as apartments or office buildings. This concentration leaves them vulnerable to a downturn in this particular sector. Investors should examine where the REITs projects are located. A high concentration of development in one community or geographic region may leave it vulnerable to a downturn in that area’s economy. Better to invest in more than one REIT and choose different property sectors, also make sure that they are in different geographic locations. As stated earlier REITS are traded like stock on the major markets and can be purchased via a stockbroker in the normal manner. Fine Art Fine art offers the opportunity for portfolio diversification into an area that has historically provided high returns. Quality works of art have proved to be a remarkable store of value. This is predominantly due to increasing rarity caused by an expanding demand from museums and collectors and dwindling supplies. Art has evolved considerably over the last decade or so. Now building up a portfolio of works of art is not the only way to invest. Dedicated funds have been launched and there are investment advisers specifically geared to help investors with little or no experience of the art market. Far from just being a hedge against inflation art investment is now just one of range of alternative investments that can be used to diversify portfolios. Investing in ART can be done in the traditional manner via Art Dealers or now through an increasing number of specialist fund managers were the funds are structured like private equity investments and investor commitments are drawn down over a period of time to facilitate purchases. Due to the nature of Art works and how they appreciate in value over time they should be seen as a buy and hold investment rather than a buy and sell one. Fine Wine â€Å" What makes fine wine such a good investment is that production of the world’s top vintages are strictly controlled. As supply of the very best wines dries up, the prices of the very best vintages invariably rocket† (http://capitalvintners-px.rtrk.co.uk 14/03/2011) Investing in fine wine is an attractive proposition for many investors, who wish to diversify their investment portfolio. As wine matures, more bottles are consumed and like all things rare and desirable, its valuation will rise. Demand has increase enormously over the past decades,resulting in some extremely good returns. Wine is also an easily transferable asset, as there is an established fine wine market and a thriving auction market. There are no limits to wine investing, however the current prices of top wines are such that one should start investing with at least %,000 to  £10,000. It should be remembered that investment in wine is a long term investment and experience suggests that a minimum five year term would be a reasonable benchmark. Although Fund Managers are beginning to take a keen interest in this market, with wine investment funds now readily available, care should be taken as their investment charges will inevitably eat into any gains made and also they may not have the in-depth knowledge of Fine Wines that a reputable broker has. Perhaps best to use a   reputable broker, who will ascertain the exact nature of the fine wine holding you require, taking into account your dealing range, liquidity needs and risk/return requirements. The broker will then obtain on your behalf, the fine wine most suitable for you, either from their suppliers or from their own extensive stock holding. The broker will also organise safe storage and insurance for your wine. It is critical wine is stored and cared for in the correct manner and in order to maintain the very high quality of the product and ensure its longevity, fine wine must be stored in a controlled environment and again reputable brokers will have this facility. Once this has been done you will receive written confirmation of your holding from your broker. Your broker will also attend to your needs for the duration of your holding and will keep you aware of developments in the markets on a monthly basis. When the time comes to sell your holding, your broker will organise this on your behalf. Again it should be remembered that as with all investments returns are not guaranteed and you could incur substantial losses, if the market for Fine Wine falls into decline. Short Answer Questions Question 1.   The disadvantages of repaying debts by encashing investments are: Lack of liquidity. No guarantee that you would subsequently save the new found disposable income. No longer have the expertise of the fund managers or the investment asset mix. Less time for subsequent investments to build up. Any new investments would have fresh set-up charges therefore reducing the potential returns May lose valuable tax relief on existing investments that cannot be re-used. Interest rates on debts may be lower than your investment returns. May need to borrow again in the future at higher interest rates and or a shorter repayment term, costing more. May be unable to borrow in future years due lower income or credit crunch. Question 2 Interest Yield: Divide Annual Income by Current Market Price. 7% divided by  £132 x 100 = 5.30. Gross Redemption Yield: Current Price  £132 Minus the Nominal Value  £100 and divide by remaining 3 years to run. Divide this figure by current price and then add to Interest Yield.  £132  £100 =  £32 divided by 3 = 10.66 divided by  £132 = 0.08 add to Interest Yield = 5.30 + 0.08 = 5.38. Question 3    Benefits Guaranteed 100% secure: total capital invested is returnable Any winnings are tax free Partial withdrawals from initial investment allowed No regular investment required No fixed investment term. Automatically eligible for monthly prize draw Can win valuable cash prizes Drawbacks Investment is subject to decrease in value due to inflation Savings in interest earning accounts may earn more Chances of winning a larger cash prize are slim No guarantee of a win Minimum and maximum investment required Chances of winning a larger cash prize are slim Money is not instantly accessible Bibliography Websites HMRC Venture Capital Trust. www.hmrc.gov.uk/guidance/vct.htm 18/02/2011 This website provides commanding and very valuable information for advisers and the general public. This proved to be an extremely relevant site for my research, as the site lists all articles produced on specific tax areas and also includes historical information for research thereby providing a one stop shop for all tax related enquiries. The reference to Venture Capital Trusts allowed me to give a factual overview of the investment and also to explain the tax relief available to this type of investment. http:///www.aimslisting.co.ukindex.php/page/The-Aim-Market 25/02/2011. www.hughespartnership.co.uk/enterprise investment scheme 01/03/2011. www.thisismoney.co.uk/investing/article.html 02/03/2011 This is an excellent financial website and helps advisers keep up to date with what’s going on in the world markets. It has a reputation for accuracy and has a specialist team of financial journalists, whose aims are   to ensure that readers are accurately informed in financial matters. This makes it a very relevant site for my research as there are regular articles on all aspects of investments including alternative investments and what they have to offer. Its journalists write in a straightforward and understandable manner, which makes it easy to digest what can sometimes be very complicated subject matters. myifslearning.com 06/03//2011   The ifs School of Finance is a registered charity incorporated by Royal Charter and provides the financial services industry with a skilled and competent workforce. They have been providing financial education for the past 130 years. The website is very informative and provides students with a wealth of information, tailored to helping them progress. An on-line knowledge bank library to assist with studies and understanding is available at the click of a button. In addition the in-house magazine, Financial World, has features, comments and reviews on financial matters relevant to the financial services sector, which enables advisers to constantly keep up to date on financial services matters. www.rensburgsheppards.co.uk/discretionary management solutions 04/03/2011 http://stocks.about.com/od/advancedtrading/a/REIT 07/03/2011 www.ftmandate.com/theartofalternativeinvestment.html 10/13/2011 www.moneyweek.com/investing-in-wine 14/03/2011 bbr.com/fine-wine/how-to-invest 14/03/2011 Textbooks IFS School of Finance. Financial Planning Principles (2009) Taxbriefs Life Assurance Pension Handbook. 2009/10 Taxbriefs Tax Guide 2009/10 Journals. Financial Adviser, published weekly. Money Week, published weekly.