Embryonic vs. Adult Stem Cells in Research Essay -- Argumentative Pers

Embryonic vs. Adult Stem Cells in Research    Why is the mainstream media significantly downplaying exciting scientific discoveries with adult stem cells? This essay hopes to adequately answer that question. Here's the scoop: As originally reported late last year in the medical journal Blood, Dr. Catherine M. Verfaillie and other researchers at the Stem Cell Institute, University of Minnesota, have discovered a way to coax an adult cell found in the bone marrow to exhibit many of the attributes that supposedly make embryonic stem cells irreplaceable to the development future "miracle" medical therapies(Catherine). While there is still much research to be done, "multi-potent adult progenitor cells" (MAPCs) appear to be versatile, that is, capable of transforming into different types of tissues. (In a culture dish, the cells can be coaxed into becoming muscle, cartilage, bone, liver, or different types of neurons in the brain.) They are also malleable, meaning they can do so relatively easily. They also exhibit the "immortality" valued in embryonic cells, that is to say, they seem capable of being transformed into cell lines that can be maintained indefinitely. At the same time, these adult cells do not appear to present the acute danger associated with embryonic stem cells: the tendency to grow uncontrollably causing tumors or even cancers. This should be a big story considering the intense controversy over embryonic-stem-cell research (ESCR) and the coming attempt in the United States Senate to outlaw human cloning (S.790). Indeed, the New York Times and Washington Post consider embryonic-stem-cell research so important - including the manufacture and use of human-clone embryos in such experiments - that both hav... ...hat the biotech researchers say more "true" then whatever cloning/ESCR opponents may argue - regardless of the actual evidence. Finally, clout in public-policy disputes usually boils down to money. Quite often, reporters don't find stories; stories find reporters. That is how PR firms make the big bucks; being paid quite handsomely to alert journalists to stories their clients' want covered. In this fight, Big Biotech's very deep pockets almost guarantee coverage that is skewed in favor of destroying human embryos in experiments and permitting the creation of human-research clones. Sources Consulted: "Catherine Verfaillie"   http://www1.umn.edu/stemcell/sci/page/fac-mbr/verfaillie/verfaillie.shtml New Scientist   http://www.newscientist.com/ New York Times   http://www.nytimes.com/auth/login?URI=http://www.nytimes.com/2002/01/25/science/25STEM.html

Busy city sidewalks Essay

Yellow taxis and wide streets; hot dog stands on every corner; Central Park covered in a blanket of snow; the Statue of liberty and all of its glamour; the bright lights of Times Square; world’s famous designers shops on 5th Avenue and last, but not least ice skating on a central park – this is what comes to mind when I picture New York City†¦.. I haven’t traveled to a city that can even come close to comparing to Manhattan. I haven’t travelled to manhattan to, but this is the only place in the world i would like to visit. I would no hesitate to choose Britain. The main reason why I would choose Britain as my destination is that I want to visit London and Cambridge. After all that travelling you must be wondering about the kind of food that is unique to Melaka. A good Malaysian hostess like me is bound to tell you about those delicious desserts that Melaka has to offer. Walking along Jonker Street in the heat, you will certainly enjoy the tasty dessert of cendol. This is a green colored jelly (made from rice flour) in the shape of worms and served with shaved ice, coconut milk and palm sugar. The cendol can be served in a bowl or sometimes in a glass. This one shop I went to served it in a specially paper container shaped like a durian. The cendol may look a bit strange to you but believe me, it tastes great! Nyonya kuih as the name suggests originated from the Nyonyas, the descendants of the Chinese Immigrants who came with Admiral Zheng He. The Nyonya kuih are bite sized desserts made from ground rice flour and usually steamed and can be sweet or savory. A Famosa or â€Å"The Famous† in Portuguese is a fortress located in Melaka. It is among the oldest surviving architectural remains in Asia. All that is left of the mighty fortress is this tiny gate. In 1511, the Portuguese fleet under the command of Alfonso De Alberquerque attacked and defeated the native ruler of Melaka. He had a fortress built around a natural hill near the sea. The fortress is one of the places to visit in Melaka that every visitor must not miss. To have a better understanding of the Chinese influence, one of the best places to visit in Melaka is the  Admiral Cheng Ho’s museum. The museum displays the life and times of the historic Ming dynaasty admiral whose voyage to this part of the world played an important role in the Melaka sultanate. The rooms like Tea House and Treasure Ship Living Cabin will offer you a glimpse of his life. The museum located in Jalan Hang Jebat is in a central location and easy to get to from wherever you are staying. Admission fee is RM 10 for adults and RM 5 for students and children. This is one of the best places to visit for a bit of history lesson on Melaka and should be included for your family vacation. Another attraction of Jonker Street are the rickshaws. The are almost extinct now as modes of transport with highways, air-conditioned taxis and buses. Tourists are game to try a ride in these colorfully decorated trishaws equipped with stereo systems and loudly blaring the latest pop songs. A ride in a a trishaw is one of the things to do in Melaka that will be remembered for a long time. A family vacation would not be complete without a trishaw ride. This is your once-in-a-lifetime ride on this outdated mode of transport to get around the places to visit in Melaka. After all it may not be around forever as less and less people are taking up this trade. Don’t be too shocked when you hear Beyonce providing you the musical accompaniment as you sit in your trishaw, lol. Jonker Street, a narrow street located in Chinatown is one of the top ten places to visit in Melaka. It has some of the oldest houses dating to the 17th century. This street is famous for its antique goods with its past associations with Portuguese, Dutch, Chinese and British. You can find Chinese porcelain pieces, old coins, unusual lamps and various Buddha statues. The history of Melaka began with a simple fishing village inhabited by local Malays. In the fourteenth century, a Hindu prince, Parameswara was driven from his home in Palembang by Javanese enemies and found himself in this small village. According to legend, he was resting under a gray tree while hunting when one of his dogs cornered a mouse deer. In self defense, the mouse deer pushed the dog into the river. Impressed by the courage of the mouse deer and feeling it was the sign of a good omen, Parameswara decided to build an empire at that very spot. He could see it was strategically located to be an excellent trading port. He named the place after the tree he was sheltering under, the Melaka tree. Another version of the story tells of Parameswara choosing the name Malacca from the Tamil word â€Å"mallakka† which means upside down. Old illustrations of the dog and mouse deer shows the dog falling on its back into the river which gave him the idea of the name Malacca. Some of the best places to visit in Melaka, Malaysia recounts the influence of the rule of the Portuguese, Dutch and British colonial powers. Besides the European colonial powers, the Chinese came to trade and settle down with the local Malays. It is one of the top historical places in Malaysia not to be missed. After all, at the height of its prominence, Bandar Melaka or Melaka City was an important port along the Straits of Malacca This historical city has been listed as a UNESCO World Heritage Site since 7 July 2008 and listed among45 â€Å"must visit† places by the New York Times. A World Heritage Site is a place that is of special cultural or physical significance. Melaka gained fame mainly because of its strategic location as a good port accessible in all seasons and situated at the narrowest point of the Malacca Straits. It was formerly named Malacca and some still refer to this popular name. Allow me to be your guide on this tour of the ten best places to see in Melaka. I am sure you will be fascinated by its rich historical background. For those who want to experience the traditional way of life in a Malaysian village, you can be a guest at a Melaka Homestay. For those who prefer to  rent an apartment in Melaka, there is the Malacca Homestay Apartment which is near the city center. The strategic location of Malacca meant that it was an important stop for Chinese admiral Zheng Ho’s fleet during the Ming dynasty. In order to enhance better relationships, a delegation was led by the Princess Hang Li Po to marry Sultan Mansur Shah who reigned from 1456 until 1477. This resulted in a mass settlement of Chinese people which led to a community of Peranakan or Baba-Nyonya. Nyonya are for the ladies while Baba are for the men. This community identify themselves as descendants of the late 15th and 16th century Chinese immigrants. Some have intermarried with the local Malays and are usually traders. Most of those descended from the early settlers speak two or more languages and towards later generations have assimilated to the Malay culture with their own particular way of dressing as well as cooking style. Why not stay at The Baba House Hotel Malacca Town which is traditionally designed based on the culture of Baba-Nyonya.

What are the key purposes of using Accounting Ratios in Finance - Free Essay Example

Sample details Pages: 15 Words: 4500 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? What is accounting ratios? Accounting ratios are the ratios which used in calculation and indicate the relationship between figures from the financial statements of a company. The financial statements are the statements that summarized a companys activities either quarterly or annually. It consists of a profit and loss account and a balance sheet. Don’t waste time! Our writers will create an original "What are the key purposes of using Accounting Ratios in Finance" essay for you Create order In accounting, accounting ratios are often used in interpreting and evaluating a companys overall financial condition and business performance. Accounting ratios are classified into 5 categories for measuring 5 different aspects of business performance. The 5 aspects are shown as follow: Profitability of company Liquidity of company Asset management of company Debts management and capital gearing of company Market value of investment to ordinary shareholders / common stockholders 1.1 Profitability of company Gross profit markup Gross profit markup (%) = Gross Profit x 100 Cost of goods sold Gross profit margin Gross profit margin (%) = Gross profit x 100 Net sales value Operating profit margin on sales Operating profit margin (%) = Operating profit before interest and before taxation x 100 Net sales value Profit margin on sales Profit margin on sales (%) = Net income available to common stockholders x 100 Net sales value Basic earning power (BEP) Basic earning power (BEP) = Operating profit before interest and before taxation x 100 Total assets Return on total assets (ROA) Return on total assets (ROA) = Net income available to common stockholders x 100 Total assets Return on total equity (ROE) Return on total equity (ROE) = Net income available to common stockholders x 100 Common equity 1.2 Liquidity of company Current ratio / Working capital ratio Current ratio / Working capital ratio = Current assets Current liabilities Liquid ratio / quick ratio / acid-test ratio Liquid ratio / quick ratio / acid-test ratio = Liquid assets Current liabilities 1.3 Asset management of company Inventory turnover or stock turnover Inventory turnover or stock turnover = Cost of sales Average stock value Fixed asset turnover Fixed asset turnover = Net sales Fixed assets net book value Total assets turnover Total assets turnover = Net sales Total assets Debtor ratio Debtor ratio = Debtor Credit sales Debtor payment period Debtor payment period = Debtor x 365 days/ 52 weeks / 12 months Credit sales Days sales outstanding (DSO) Days sales outstanding (DSO) = Debtor x 365 days Credit sales 1.4 Debts management and capital gearing of company Debts ratio Debts ratio = Total debts Total assets Capital gearing ratio Capital gearing ratio = Prior charge debts capital Total capital Debts equity ratio Debts equity ratio = Total debts Common Equity Times interest earned Times interest earned = Profit before interest and before taxation Interest charges Creditor ratio Creditor ratio = Creditor Credit purchase Creditor payment period Creditor payment period = Creditor x 365 days / 52 weeks / 12 months Credit purchase 1.5 Market value of investment to ordinary shareholders/ common stockholders Earnings per share Earnings per share = Net income available to common stockholders Number of ordinary shares in issue Price / Earnings ratio Price / Earnings ratio = Market price per ordinary share Earnings per share Dividend cover Dividend cover = Earnings per share Net ordinary dividend per share Earning yield Earning yield = Gross earnings per share x 100 Market price per ordinary share Dividend yield Dividend yield = Gross ordinary dividend per share x 100 Market price per ordinary share Price / cash flow ratio Price / cash flow ratio = Market price per ordinary share Net cash inflow per ordinary share Market price / book value ratio Market price / book value ratio = Market price per ordinary share Net book value per ordinary share 1.6 Companys background Gamuda was incorporated on 6 October 1976. It was listed on the main board of the Kuala Lumpur Stock Exchange (KLSE) on 10 August 1992. In Malaysia, Gamuda is a leading infrastructure group. It has a wide range of business activities all over the world. Its core competencies are engineering and construction, infrastructure concessions, and also township development. Besides, they have mega projects such as internationally acclaimed SMART (Stormwater Management and Road Tunnel), intra-urban highways, Kaohsiung Mass Rapid Transit System in Kaohsiung, Taiwan, and so on. On the other hand, WCT was incorporated on 14 January 1981 as WCT Earthworks Building Contractors Sdn Bhd. Then, it went public on 1 April 1994 and listed on the Kuala Lumpur Stock Exchange (KLSE) on 16 February 1995. The business nature of WCT Berhad contains engineering and construction, property development, and also assets management. The business coverage of WCT is in Malaysia and abroad. Its projects and serv ices include F1 international racing circuit, international airport, hydroelectric dam, township planning development and so on. Then, the next step is applying the accounting ratios to calculate the 2 companiess business performance. The companies are Gamuda Berhad and WCT Berhad. In order to compare these 2 companies, the selection is inter-firm which is comparing based on the industry average. It is because they have the same business nature. Before doing comparison, a person must obtain the financial statements of a company. In general, the financial statements are released in annually basis, but some of the companies are quarterly basis. Financial statements are the vital resource for a researcher used to calculate and compare the companies business performance. The financial statements adopted from Gamuda Berhads annual report 2010, whereas WCT Berhad is 2009. Figures inside the income statement and balance sheet are used in apply to the accounting ratio in calculating pu rposes. After done the calculation, there is a standard weigh available in each accounting ratio to interpret the data. Each answer generated is referring to the weigh in comparison and generate a comment. These 2 annual reports of Gamuda and WCT are adopted from their official website in the column of the investor relations. The website address of Gamuda is https://www.gamuda.com.my, whereas website address of WCT is www.wct.com.my. 1.7 Calculation worksheet Types of ratio Calculation of Gamuda Berhad Calculation of WCT Berhad Profitability Gross profit markup (%) = Gross profit x 100 Cost of goods sold = RM 422976000 x 100 RM 2032167000 = 20.81 % = RM 354659000 x 100 RM 4311943000 = 8.23 % Gross profit margin (%) = Gross profit x 100 Net sales value = RM 422976000 x 100 RM 2455143000 = 17.23 % = RM 354659000 x 100 RM 4666602000 = 7.60% Operating profit margin on sales (%) Operating profit before = interest before taxation x100 Net sales value = RM 259852000 x 100 RM 2455143000 = 10.58% = RM 244145000 x 100 RM 4666602000 = 5.23 % Profit margin on sales (%) = Net income available to common stockholders x 100 Net sales value = RM 280693000 x 100 RM 2455143000 = 11.43 % = RM 147098000 x 100 RM 4666602000 = 3.15 % Basic earning power (BEP) = Operating profit before Interest and before taxation x100 Total assets = RM 259852000 x 100 RM 6550910000 =3.97% = RM 244145000 x 100 RM4478484 000 = 5.45 % Return on total assets (ROA) = Net income available to common stockholders x100 Total assets = RM 280693000 x 100 RM 6550910000 = 4.28% = RM 147098000 x 100 RM 4478484000 = 3.28 % Return on total equity (ROE) =Net income available to common stockholders x 100 Common equity = RM 280693000 x 100 RM 325752500 = 8.62 % = RM 147098000 x 100 RM 1250246000 = 11.77 % Liquidity Current ratio = Current assets Current liabilities = RM 4203173000 RM 1930241000 = 2.18 : 1 = RM 2553187000 RM 1807550000 = 1.41 : 1 Acid-test ratio = Liquid assets Current liabilities =RM4123435000 RM1930241000 = 2.14 : 1 = RM 2439478000 RM 1807550000 = 1.35 : 1 Asset Management Inventory turnover = Cost of sales Average stock value = RM 2032167000 RM 79738000 = 25.49 times = RM 4311943000 RM 113709000 = 37.92 times Total assets turnover = Net sales Total assets = RM 2455143000 RM 6550910000 = 0.37 times = RM 4666602000 RM 4478484000 = 1.04 times Debtor ratio =Debtor Credit sales = RM 1607772000 RM 2455143000 = 0.65 : 1 = RM 1472655000 RM 4666602000 = 0.32 : 1 Day sales outstanding (DSO) =Debtor x 365 days Credit sales = 0.65 x 365 days = 237.52 days = 0.32 x 365 days = 116.8 days Debts management and capital gearing of company Debts ratio = Total debts Total assets = RM 3243187000 RM 6550910000 = 0.50 : 1 = RM 2991508000 RM 4478484000 = 0.67 : 1 Debts equity ratio = Total debts Common equity = RM 3243187000 RM 3257525000 = 1 : 1 = RM 2991508000 RM 1250246000 = 2.39 : 1 Times interest earned = Profit before interest and before taxation Interest charges = RM 259852000 RM 43813000 = 5.93 times = RM 24414500 RM 50308000 = 4.85 times Market value of investment to ordinary shareholders / common stockholders Earnings per share = Net income available to common stockholders Number of ordinary shares in issues = RM 280693000 2025888000 shares = RM 0.14 = RM 147098000 777712000 shares = RM 0.19 Price earnings ratio = Market price per ordinary share Earnings per share = RM 3.20 per share RM 0.14 per share = 22.86 times = RM 2.60 per share RM 0.19 per share = 13.68 times Earnings yield = Gross earnings per share x 100 Market price per ordinary share = (100/75 x RM 0.14) x 100 RM 3.20 = 5.83 % = (100/75 x RM 0.19)x 100 RM 2.60 = 9.74 % Market price per book value = Market price per ordinary share Net book value per ordinary share = RM 3.20 per share (RM 325752500 / 2025888000 shares) = RM 3.20 RM 1.61 = 1.99 : 1 = RM 2.60 per share (RM 1250246000 / 777712000 shares) = RM 2.60 RM 1.61 = 1.61 : 1 1.8 Ratios comparison between Gamuda and WCT 1.81 Profitability Gross profit markup and gross profit margin Based on the profitability ratios calculations result generated above, Gamuda Company is generating higher profit compared to WCT Company. The both gross profit markup and gross profit margin of Gamuda is higher than WCT. High gross profit earned by Gamuda shows that it has effective and efficient control in lowering its purchasing cost and production cost. Lower gross profit earned by WCT indicates it does not effective and efficient control in lowering its purchasing cost and production cost. Besides, both operating profit margin and profit margin on sales of Gamuda is higher than WCT. Higher profit margin earned by Gamuda shows it has an effective control in lowering its expenditures and interest cost. Whereas it indicates WCT is ineffective in controlling its expenditures and interest cost. Basic earning power, return on total assets, and return on common equity However, in basic earning power and return on common equity, Gam uda is lower than WCT. Return of asset of Gamuda is slightly higher 1 % than WCT only, which is 4.28 % and 3.28 % respectively. It shows that WCT is generating higher profit regarding to its effective and efficient in using its assets and capital in the business. In contrast, Gamuda is ineffective and inefficient in employing its assets and capital. 1.82 Liquidity Current ratio In liquidity aspect, the current ratio of Gamuda and WCT is 2.18: 1 and 1.41: 1 respectively. If the current ratio is higher than average of industry, it means a company has a larger amount of current assets to pay its current liabilities. Besides, it proves that a company has a stable financial condition. In contrast, when current ratio is lower than average of industry, it shows the companys financial condition is unstable. The company has lower amount of current assets to pay its current liabilities. Acid test ratio On the other hand, acid test ratio of Gamuda is 2.14: 1, whereas WCT is 1.35: 1. When a companys acid test ratio is higher than average of industry, it shows that it has larger amount of liquid assets to pay its current liabilities. In contrast, lower acid test ratio shows a company has lower amount of liquid assets to pay its current liabilities. 1.83 Asset management Inventory turnover In asset management aspect, the inventory turnover of Gamuda is 25.49 times and WCT is 37.92 times. Higher inventory turnover shows that a company experiences fast stock turnover, so stocks are not accumulated, and no money to be tied up. WCT has a higher inventory turnover than Gamuda. It means that WCT has fast turnover, less stocks to be accumulated, and less money to be tied up compared to Gamuda. Total assets turnover Besides, total assets turnover of Gamuda is 0.37 times, and WCT is 1.04 times. Total assets turnover of WCT is higher than Gamuda. WCT has higher sales generated from its business due to its effective asset usage which increases the production volume. Debtor ratio days sales outstanding Debtor ratio of Gamuda is 0.65: 1, and WCT is 0.32: 1. Besides, the day sales outstanding of Gamuda are 237.5 days, and WCT is 116.8 days. Higher debtor ratio and day sales outstanding shows that Gamuda gives a longer credit time to its debtors w hich cause a longer time to collect back the money. Gamuda may accumulate the debts balance and experiences shortage of money which unable to finance its current liabilities. In contrast, WCT has a lower debtor ratio and day sales outstanding. It has shorter debtor payment period, experience less debts balance, and less money to be tied up from its debtors. 1.84 Debts management and capital gearing Debtor ratio In debts management and capital gearing aspect, WCT has a higher debts ratio compared to Gamuda. The higher debts ratio shows that a company experiences heavy debts and high interest cost. It may cause a company unable to pay back the debts, and forced to sell its assets to pay. Debts equity ratio Debts equity ratio is used to measure the proportion of company debts with its common equity. Both Gamuda and WCT debts equity ratio is higher than 0.5:1, but WCT is higher than Gamuda which are 2.39:1 and 1;1 respectively. It means these 2 companies operate at a high gear with larger proportion of prior charge debts capital. It views as unstable capital structure and bearing the high interest cost financed by larger proportion of profit. Time interest earned / Interest cover Both companies experience high capital gearing ratio, but WCT is higher than Gamuda. It means WCT experiences low times interest earned and indicates it is bearing the high interest charge s in relation to its profit. 1.85 Market value of investment to ordinary shareholders / common stockholders Earnings per share Lastly, in market value of investment to ordinary shareholders / common stockholders, WCT has a higher earnings per share compared to Gamuda. It shows that WCT has a higher business growth and higher profit earnings. In converse, lower earnings per share shows that a company experiences a low business growth and low profit earnings. Price earnings per share Besides, WCT has a lower price earnings ratio compared to Gamuda. Lower price earnings ratio shows that Gamudas earnings per share is very high which influenced the common stockholders have to take shorter period use their profit earning to recover back their share investment amount. If the earnings ratio is high, it shows that a companys earnings per share are very low and the common stockholders spend longer period use their profit earning to recover their share investment amount. Earning yield The earning yield of WCT is higher than Gamuda. If the earning yield higher than the average of indu stry, it shows that a company has high net income and very attractive to the common stockholders. However, when the earning yield is lower than average of industry, it shows that a company has low net income and not attractive to the common stockholders. Market price per book value Besides, the market price per book value of WCT is lower than Gamuda. If market price per book values is lower than the average of industry, it means the share market price decreases below its real asset value and becomes attractive to common stockholders. In converse, if the market price per book value is higher than the average of industry, it means its share market price increases over its real asset value and become not attractive to the common stockholders. 1.9 Conclusion Based on the result of 5 aspects of accounting ratio above, WCT Company has a better overall business performance than Gamuda Company. Firstly, WCT has higher BEP and ROE which shows WCT is generating higher profit regarding to its effective and efficient in using its assets and capital in the business activities. Secondly, WCT has a higher inventory turnover than Gamuda. It indicates that WCT has fast turnover, more liquid, less stocks to be accumulated, and less money to be tied up compared to Gamuda. Thirdly, total assets turnover of WCT is higher than Gamuda. WCT has higher sales generated from its business due to its effective asset usage which increases the production volume. Fourthly, WCT experiences a lower debtor ratio and day sales outstanding than Gamuda Company. WCT has shorter debtor payment period, experience less debts balance, more liquid and less money to be tied up from its debtors. Fifthly, WCT has higher earnings per share compared to Gamuda. WCT has a higher bu siness growth and higher profit earnings. Sixthly, WCT experiences lower price earning ratio compared to Gamuda. Lower price earnings ratio shows that WCTs earnings per share are very high. It enables the common stockholders have to take shorter period use their profit earning to recover back their share investment amount. Seventhly, the earning yield of WCT is higher than Gamuda. When the earning yield higher than the average of industry, it shows that a company has high net income and very attractive to the common stockholders. Lastly, the market price per book value of WCT is lower than Gamuda. When market price per book values is lower than the average of industry, it means the share market price decreases below its real asset value and becomes attractive to common stockholders. Thus, WCT is more attractive than Gamuda. On the other hand, while doing inter-firm comparison, there are several limitations in applying the ratio and trend analysis. The first limitation must select the same industry norms and compare based on the industry average. The second limitation is each firm experiences a different financial and business risk profile. It also affected by the analysis differently. The third limitation is accounting policies. Each firm applies different accounting policies. For example, in small firm, it groups its stationery in current assets. However, in large firm, it groups it into expenses. The fourth limitation is the size of the firm would experience different level of risk from its competitors, structure, and returns. The fourth limitation is the area and environment of a firm. Home-based firm and multinational firm operate differently in different countries. 2.0 Introduction What is financial market? Financial market is a mechanism where surplus funds are gathered from the people who intended to lend out their money. Furthermore, it acts like a platform where provides the opportunities for the organizations and individuals who are short of money to borrow funds. Financial markets have different categories. Each financial market deals with a different type of financial instrument of its maturity and the asset backing it. Different financial markets serve different types of customers, and operate in different parts of the country. Financial markets are different from physical asset markets. Physical asset markets also called as tangible asset markets or commodities market which deal with the physical products like gold, crude oil, real estate, and machinery. Whereas the financial markets deal with the financial instruments like shares, bonds, notes, mortgages, and so on. Besides, these 2 markets can operate as the spot market or future market. Spot marke rs can be defined as goods are being traded on the spot and delivery within several days. Conversely, the goods that are being traded in future market are for future and delivery on future date. It could be six months or a year in future. 2.1 Types of financial markets 2.11 Primary markets There are various financial markets in each country. The first type is primary markets. It is the market for corporations to raise capital by issuing new securities or shares. The corporations collect the funds by selling off the new issued stocks in the primary market transaction. 2.12 Secondary markets The second type is secondary markets. Secondary markets are the markets in which existing and already outstanding securities or other financial assets that are traded among the investors after they have been issued by the corporations. 2.13 Initial public offering market The third type is initial public offering (IPO) market. It is a market that provides the company or corporations go public by offering new securities or shares to the public for the first time. Once the corporation or company went public, it will be listed on the stock exchange. These companies or corporations are usually newly established and go public to collect capital. 2.14 Private markets The fourth type is private markets. It is a financial market where the transactions are worked out directly between 2 parties. Private markets are different from the public markets where standardized contracts are traded on organized exchanges, but private market could perform privately without going to public where the transaction may be structured in any manner that appeals to the 2 parties. Bank loans and placement of debts with insurance are the examples of the private market transaction. 2.15 Consumer credit markets The fifth type is consumer credit markets. Generally, it deals with the loans on autos and appliances, loans for education, vacations, and so on. 2.16 Mortgage markets The sixth type is mortgage markets. Mortgage markets deal with the loans for the purposes of residential, commercial, industrial real estate, and also farmland. 2.17 capital markets The seventh type is capital market. Capital markets deal with the stocks or shares, intermediate or long-term debts in which funds to be loaned and borrowed for long periods. It usually more offered in one year or more than one year. 2.18 Money market The eighth type is money market. Money market deals with short-term, highly debt securities in which funds to be loaned and borrowed for a short period which usually less than one year. 2.2 Three ways for transferring capital or fund between savers and borrowers 2.21 Direct transfer from savers to borrowers The first way is direct transfer from savers to borrowers. It usually happens when a corporation (borrower) wants to collect funds by issuing and selling new securities or bonds to the savers (money lender). In this selling process, it does not pass through any financial institution which the corporations directly deliver the securities to the savers who in return pay money to the corporation. Therefore, it is a direct flow where the funds are directly transferred from the savers to the corporations. The following diagram can fully explain the process between corporations and savers. Issue corporations securities or bonds to Corporations (Borrowers) Savers (Money lenders) Receive capital or fund from Diagram 2.21.1- Direct transfer from savers to borrowers 2.22 Indirect transfer from the savers to the borrowers through investment banking house The second way is indirect transfer from the savers to the borrowers through investment banking house. It normally happens when an investment bank underwrites the issuance of a corporations securities where the investment bank acts as a middleman to facilitate the issuance of corporations securities. Indeed, investment bank purchases the corporations securities and then resell it to the savers. It means the money paid by the savers in purchasing corporations securities is passed to the investment bank and to be received by the corporation (borrower). Thus, money of savers and securities of company is only passing through the investment banking house. As a result, the fund is indirectly transferred through the investment banking house from the saver (money lender) to the corporation (borrower). The below diagram can fully explain the process among the investment banking house, corporation, and saver. Investment Banking House (Middle man) ( Corporations (Borrower) Savers (Money lender) Issue corporations Resell corporations securities to securities to Receive fund from Receive fund from Diagram 2.22.1- Indirect transfer from the savers to the borrowers through investment banking house 2.23 Indirect transfer from the savers to borrowers through a financial intermediary The third way is indirect transfer from the savers to borrowers through a financial intermediary. It usually happens when a financial intermediary like bank or a mutual fund collects the funds from the savers by issuing its own securities or certificate of deposit to the savers. After that, the financial intermediary uses the collected funds from the savers to buy and keeps the other corporations securities as its investments. It means that the money paid by the savers to purchase the securities or certificate of deposit issued by the financial intermediary. Then, the money passed to the financial intermediary, and then the financial intermediary paid the money for purchasing the other corporations securities. In fact, there are many people prefer holding the certificate of deposit and the securities issued by the financial intermediary. The reason is they are safer and more liquid than the mortgages and loans. Thus, financial intermediaries are greatly increasing the efficiency of money and capital markets. The below diagram can fully explain the process among the financial intermediary, saver, and corporation. Savers (Money lender) Corporations (Borrower) Financial Intermediary (Money lender to corporation) / (Borrower from saver) Issue corporations Issue intermediarys securities to owns securities to Receive fund from Receive fund from Diagram 2.23.1- Indirect transfer from the savers to borrowers through a financial intermediary 2.3 Types of financial intermediaries and its role Investment banking house is an organization that underwrites and distributes the new securities issued by the corporations which helps the corporation in obtaining the funds for financing. In Malaysia, examples of investment banking house are CIMB bank, Affin bank, and Maybank. Financial intermediary are the specialized financial organization that facilitate the transfer of funds from the savers to the borrowers. There are several types of financial intermediaries. 2.31 Commercial bank The first type is commercial bank. It is a traditional departmental store of finance which serves a huge population of savers and borrowers. Besides, commercial banks are the major institutions that handled checking accounts and through which Federal Reserve System increased or decreased the money supply. Furthermore, it provides stock brokerage services and insurance. 2.32 Mutual savings fund The second type is mutual savings fund. It is similar to savings and loan associations which accepts the funds from savers and lend the money for a long term basis to house buyers and consumers. 2.33 Savings and loan association The third type is savings and loan association. This organization serves individual savers, residential and commercial mortgage borrowers by collecting the funds from small savers. Then, it lends the money to house buyers and other types of borrowers. 2.34 Credit unions The fourth type is credit unions. They are cooperative associations whose members are supposed having a common bond to enable the unions collect funds from the members. Then, the unions lend the funds to other members who need funds in vehicle purchases, house improvement, and house mortgage. It is the cheapest source of funds for the individual borrowers. 2.35 Pension funds The fifth type is pension funds. It is a retirement plan funded by the corporation or government agencies for their staffs. Pension funds are administered primarily by the trust departments of commercial banks or by life insurance companies. It normally used in investing in bonds, stocks, mortgages, and real estate. 2.36 Life insurance companies The sixth type is life insurance companies. These companies collect the savings in the form of annual premiums and invest the funds in purchasing stocks, bonds, real estate, and so on. They make payments for the beneficiaries who are injured. Life insurance companies also offered a variety of tax-deferred savings plans to provide benefits to the applicants when they retire. 2.37 Mutual funds The seventh type is mutual funds. They collect the fund from savers and use it in purchasing stocks, long-term bonds, and short-term debt instruments issued by businesses or government units. They pool the funds in diversifying the investment to reduce the risk. 2.4 Conclusion After finished this question, it provides a clear picture and more understanding in financial markets and its categories. Financial market is a mechanism where surplus funds are gathered from the people who intended to lend out their money. Furthermore, it acts like a platform where provides the opportunities for the organizations and individuals who are short of money to borrow funds. Financial markets have different categories. There are primary market, secondary market, initial public offering (IPO) market, private market, consumer credit markets, mortgage market, capital market, and also money market. Besides, it also indicates 3 different ways in transferring capital or fund between savers and borrowers. The first way is direct transfer from savers to borrowers. The second way is indirect transfer from the savers to the borrowers through investment banking house. The third way is indirect transfer from the savers to borrowers through a financial intermediary. On the other hand , it also indicated the roles of investment banking house and financial intermediaries. Financial intermediaries consist of 7 types. They are commercial banks, mutual saving funds, savings and loan association, credit unions, pension funds, life insurance companies, and also mutual funds. 2.5 Appendix

Emergency Preparedness Is A Topic All Childcare Employees...

Emergency preparedness is a topic all childcare employees should know and have a very strong understanding about. All cities have different types of emergencies and they each come with their own consequences. For example Kamloops has fifty two different emergency events, and each one has a proper way of handling it and the wrong way. That is why every person in the child care system or working with children should have an understanding of how to react and what to do in each emergency. While working with children there is a way of approaching problems. Since children follow after other and learn from the peres around them, it is very important that the adults that is in charge act in a mature manner and is prepared for any circumstance that comes. Kamloops has too many possible events to be ready for, thankful the childcare system has prepared protocol for most of them and already have plans set for daycares, pre-schools and schools. So all their educators and employees need is to know them and know how to handle the problem in the time being. All workplaces should be prepared for any problem that approaches them. Some of the common emergencies that happen in Kamloops are; floods, fires, windstorms, snowstorms, power outage and weapon threats or shootings. Although that is not all of them they are the major ones and the ones that will strongly affect children. The most important part of any emergency is making sure the children know how to react in the emergency and whatShow MoreRelatedSSD2 Module 1 Notes31223 Words   |  125 Pagesinformation for correspondence or meetings. Purpose A brief statement that outlines the purpose of the SOP, describing its function, applicability, and objective. Summary A few sentences summarizing the content. Though placed near the beginning, it should be composed last. Scope To whom the SOP applies, and possibly under what conditions or circumstances. Definitions Sometimes needed to explain terms new to readers or to interpret acronyms. Responsibilities Brief, descriptive sentences telling exactlyRead MoreFundamentals of Hrm263904 Words   |  1056 Pagesinteractive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started www.wileyplus.com/firstday Student support from an experienced student user Ask your local representative for details! Collaborate withRead MoreMedicare Policy Analysis447966 Words   |  1792 PagesI 111TH CONGRESS 1ST SESSION H. R. 3962 To provide affordable, quality health care for all Americans and reduce the growth in health care spending, and for other purposes. IN THE HOUSE OF REPRESENTATIVES OCTOBER 29, 2009 Mr. DINGELL (for himself, Mr. RANGEL, Mr. WAXMAN, Mr. GEORGE MILLER of California, Mr. STARK, Mr. PALLONE, and Mr. ANDREWS) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committees on Education

Summary Of Night By Elie Wiesel - 2168 Words

â€Å"I would tell him that I have tried. That I have tried to keep memory alive, that I have tried to fight those who would forget. Because if we forget, we are guilty, we are accomplices,† Elie Wiesel tells his former self (118). Wiesel has dedicated a majority of his future to fighting against the world’s silence with lessons such as these found in his memoir, Night. Even after undergoing the mass genocide called the Holocaust and hearing of the experiences from one of the victims himself, the world has fallen into a time of suffering yet again. Today, North Korea’s line of oppressive rulers practice their absolute control on Korean lives just as the Nazi’s oppressed the Jews. Following the second World War, the Korean War took place resulting in the country splitting in two: communist North Korea, or the Korean Worker’s Party, and democratic South Korea, or People’s Republic of Korea. This event began the brutal reign of the Kim family, c onsisting of Kim Ill-sung, Kim Jong-ill, and Kim Jong-un, on North Korea. For three generations, North Koreans were burdened with decades of torture, starvation, and manipulation. Now, the world is seemingly turning its eyes away from North Korea and labeling it a lost cause. There is little hope in store for these Koreans as Kim Jong-un expands his control globally with a new force of destruction: nuclear weapons. 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Nuclear Forces, Policies, and Weapons Free Essays

The Federation of American Scientists has created the â€Å"Nuclear Forces† website, which contains interesting information on nuclear topics. Probably, the aim of creating such website was in making people aware of nuclear policies and nuclear threats in the world. Accessing the website means accessing the information and links to nuclear guides of several countries (Iran, North Korea, Ukraine, etc. We will write a custom essay sample on Nuclear Forces, Policies, and Weapons or any similar topic only for you Order Now ). It is crucial to pay attention to the website sources and resources, when its content is analyzed. The website provides the links to the two summary tables – nuclear weapons capabilities and special weapons capabilities. Objectively, it is rather difficult and problematic for the non-specialist to analyze the table of nuclear weapons capabilities. These difficulties are connected with the complex structure of the table. Simultaneously, the summary of the special weapons capabilities provides comprehensive information about the countries, which possess and can utilize the weapons of mass destruction (nuclear, chemical, biological, etc.). The table seems to lack any relevant or peer reviewed references, this is why it can hardly be used as the source of professional research. The website also provides the links to the Nuclear Notebook (Bulletin of the Atomic Scientists), Nuclear Facts and Figures, etc. The information found on this website can become a starting point of any research in the area of nuclear forces, policies, or weapons. Its data can become a valuable source of information, but professional researchers should approach it very critically. This does not mean that the information is misleading. One may recommend including peer-reviewed publications into the website content. This will add professionalism to the website in general. Information on the website is organized so that it should be easily accessed and read. However, some links are outdated and require being either updated or deleted at all. In the world where nuclear technologies are updated daily, the content of such websites also requires regular reviews. Otherwise, this information will lose its relevance and utility. References Federation of American Scientists. Nuclear forces guide. Retrieved 07 January 2008 from http://www.fas.org/nuke/guide/                                                       How to cite Nuclear Forces, Policies, and Weapons, Essay examples

Compare The Whole Towns Sleeping with A Terribly Strange Bed Essay Example For Students

Compare The Whole Towns Sleeping with A Terribly Strange Bed Essay There are many similarities between the two stories The Whole Towns Sleeping and A Terribly Strange Bed. The most noticeable of these being the thriller genre which they both share, and in the way they both create a feeling of tension and suspense throughout, especially towards the climax. They also both deal with the subject of murder or attempted murder, and the main characters of both stories are quite similar, as they both find themselves in these strange situations through a certain degree of their own doing; with The Whole Towns Sleeping main character, Lavinia Nebbs, this is because she had refused the help of her friends and decided to walk home on her own, and with A Terribly Strange Beds main character, it is because of his consistent luck in gambling, which flares up the jealousy of on-lookers. However, there are differences as well as similarities, as while TWTS is a third-person narrative which features a female main character and a cliff-hanger ending, ATSB is the complete opposite; a story told through the first-person, with a male character and all the loose ends tied up at the end of the story we can tell this from the very beginning as the narrator is obviously looking back on something he has experienced a long time ago. Also, while they both do successfully build up tension and suspense, they achieve this in different ways. The Whole Towns Sleeping uses repetition and short descriptions, safe, safe, safe, where as A Terribly Strange Bed uses long descriptions to increase the drama. Also, the pace of The Whole Towns Sleeping is fast and furious, unlike A Terribly Strange Bed, where the pace of the story is slow and frustrating as more and more tension is built up. There is also different feelings of tension and suspense from the readers part right from the beginning, as in TWTS, the tension and suspense is built up around if Lavinia survives, and in ATSB, as we already know the main character makes is out alive, the tension is based more upon how he escapes that if he escapes. The Whole Towns Sleeping begins to build up tension from the very beginning by describing a barren location, seemingly in the middle of nowhere, to set the scene of fright that the story is based upon. It was a warm summer night in the middle of Illinois country. The little town was deep far away from everything, kept to itself by a river and a forest and a ravine. This creates the feeling of isolation that Lavinia feels herself later on in the story, and that the name The Lonely One suggests. The scene continues to be set in the next few lines; The stores were closing and the streets were turning dark. There were two moons: a clock moon with four faces in four night directions above the solemn black courthouse, and the real moon that was slowly rising in vanilla whiteness from the dark east. This emphasises the slow change of day to night that is occurring, and sets the scene for this quaint little town to become the scene of terror, fear and murder. A Terribly Strange Bed begins completely differently in that instead of setting the scene for the events that will happen, it begins almost biographically as the narrator describes his life around the time the story is set, in order to give as a clearer indication as to how the main character gets himself into this situation that is about to befall him. As opposed to TWTS, the tension and drama of A Terribly Strange Bed does not begin until well into the story. However, despite there being a feeling of fear and suspense from the very beginning of The Whole Towns Sleeping, it only really begins to have a strong effect when Lavinia beings to walk home on her own. Lavinia Nebbs walked down the midnight street, down the late summer night silence. She saw the houses with their dark and far away she heard a dog barking. The fact that she is clearly hearing noises from afar gives the reader a clear indication of how quiet and deserted the little town really is, and the isolation that Lavinia must be feeling as she takes the long walk home. However, Lavinia gives the impression that it does not bother her to be on her own walking through a pitch black street. In five minutes, she thought, Ill be safe home. In five minutes Ill be phoning silly little Francine. But she is clearly nervy when she hears a male voice, as it cuts her off mid-sentence, and forces her to walk faster. Ill -. She heard a mans voice singing far away among the trees. She walked a little faster. Later on, the writer uses suspense to build tension. One, two, three, four, five, six, seven, eight, nine steps, she whispered. She felt she was running, but she was not running. From this you can tell that the writer is trying to give the impression that Lavinia just wants the whole ordeal to be over with, hence the fact she feels she is running down the stairs when she is actually only walking. The suspense in continued in the next few lines. Mr. Collins: Character Review EssaySafe, oh safe, safe, home, so good, so good, safe. Safe inside, the door locked. There is a lot of repetition of the word safe here, perhaps an indication that, as before, Lavinia is trying to convince herself that she is something shes not. Finally, in the last paragraph, it seems that both Lavinia and the reader are assured of safety. Wait. Look out the window. She looked. She gazed out of the window for a full half-minute. Why theres nothing there at all! Nobody! There was no one following at all. Nobody running after me. She caught her breath and almost laughed at herself. It stands to reason. If a man had been following me, hed have caught me. Im not a fast runner. Theres no one on the porch or in the yard. How silly of me. I wasnt running from anything except me. That ravine was safer than safe. Just the same, though, its nice to be home. Homes the really good warm safe place, the only place to be. The amount of tension in the story has finally calmed down, as soon as Lavinia felt safe, she studied the facts and made the conclusion that her fear was for no reason whatsoever, she was being paranoid and even saw the funny side of it. Then comes the climax. She put her hand put to the light switch and stopped. What? she asked. What? What? Behind her, in the black living-room, someone cleared his throat After all the build up to the climax, all the fear and terror that Lavinia described she was suffering, after all that, very little is explained. However, having read how Lavinia has felt on her frightful journey, the reader has their own ideas as to who the person clearing their throat is perhaps the most popular idea being that it is indeed the Lonely One but who is the Lonely one? Officer Kennedy? Tom? It is this cliff-hanger ending that will leave the reader making conclusions for days as to what happens next, so despite the whole story being well written, it is perhaps the final line that contributes to it being remembered for a long time more than the rest of the story put together. As mentioned above a few times, there are many differences between the two stories, but there are also similarities. For instance, when the bed begins descending and Faulkner cannot move in A Terribly Strange Bed, he begins, in a way, to talk to himself, just as Lavinia had done in TWTS. Was the bed moving? I turned on my back and looked up. Was I mad? Drunk? Dreaming? Giddy again? Or was the top of the bed really moving down-sinking slowly, regularly, silently, horribly, right down throughout the whole of its length and breadth-right down upon me, as I lay underneath? He obviously cannot believe what is happening, which is the reason he is asking himself all of these questions an attempt to shed light on the situation. The pace of the story is generally a lot quicker that that of The Whole Towns Sleeping, this is evident in the many short, fragmented sentences; I looked up, motionless, speechless, breathless. The candle, fully spent, went out; but the moonlight still brightened the room. Down and down, without pausing and without sounding, came the bed-top, and still my panic-terror seemed to bind me faster and faster to the mattress on which I lay-down and down it sank, till the dusty odour from the lining of the canopy came stealing into my nostrils There is a total of ten commas and full-stops in that short piece of text, the short sentences created by these really build up the readers tension quickly and powerfully, in the same way that Faulkners fear must be building up. So, its obvious that the biggest difference between the two texts is how different sentence lengths are used to create two different speeds, A Terribly Strange Bed being the quicker of the two stories. The biggest similarity between the two will have to be the situations that the two main characters find themselves in. They are both situations of fear, suspense and anxiety as neither of the two characters know what is around the corner, or what is about to happen to them. Overall, I think I preferred A Terribly Strange Bed to The Whole Towns Sleeping. The main reason being that I think TWTS tended to drag on a bit too much when describing a situation. As detailed as this was, I felt it was needless, and felt the situations in A Terribly Strange Bed were described well enough is short, sharp sentences. I also felt the quick pace if ATSB made it more exciting than TWTS.