Intro and conclusion Essay Example | Topics and Well Written Essays - 500 words - 1

Intro and conclusion - Essay Example Greece is one of the prominent countries in the European Union. However, unlike many other countries in EU, Greece is currently struggling a lot because of financial problems. EU is doing everything possible to revitalize Greece’s economy. However, the depth of the financial problems facing by Greece seems to be big. However, Greece still offers enough opportunities to foreign direct investments. Greece realized that internal resources are limited to streamline the economic progress in the right path. Currently they are trying hard to attract Foreign Direct Investment as much as possible to escape from the financial problems. New products and existing products have equal opportunities in Greece at present. Because of the blind faith in the abilities of Americans, American products are accepted with both hands by Greeks. Product manufacturers in America can capitalize on such attitudes of Greek people. We have planned to develop a new multipurpose product; alarm clock/ smart phone charger / coffee maker and market it in Greece. This paper is written as a marketing plan for the newly developed alarm clock in Greece. The current population in Greece right now is 10,767,827 (â€Å"Greece Demographics Profile 2013.†). There are currently 4,704,248 people that makes up our products target market, which is roughly 44% of the total current market (â€Å"Greece Demographics Profile 2013.†). Over the past three years, Greece’s economy has been on the decline and with the recently raised income taxes, there has been a decline in disposable income as well (â€Å"Cafes/Bars in Greece.†). For the average adult, the normal work week consists of 40 hours, but during this time, Greeks do not take normal lunch breaks (â€Å"Cafes/Bars in Greece.†). Instead they take multiple shirt breaks throughout the day in which they get coffee or a quick snack (â€Å"Cafes/Bars in Greece.†). Coffee has become apart of Greek culture where its is a daily routine. Greeks

Vascular Dementia Research Paper Example | Topics and Well Written Essays - 250 words

Vascular Dementia - Research Paper Example The patient is undergoing transient ischemic attack commonly referred to as TIA, usually, lasts for twenty-four hours. It is a neurologic dysfunction which results from blood deprivation of one or more parts of the brain. It causes blurred or loss of vision, dysarthria, aphasia and mental confusion associated with loss of memory. The formation of thrombus or clot in the blood supply and alarming rate of vasoconstriction may lead to Ischemia. The patient was diagnosed with heart disease six months previously and presently with vascular dementia which is the loss of memory caused by many minor strokes.TIA and Vascular Dementia both are associated with diseases of the heart like hypertension and hypercholesterolemia. Males aged above 55 years of age and having a family history of stroke are at a greater risk.The cause should be diagnosed by the imaging of the brain and an electrocardiogram. Sometimes surgery endarterectomy is requisite for removing the plaque, thrombus or clot from the carotid arteries. However, a stroke can occur during the procedure. In case of emergency situations, medication such as anticoagulants is given. Heparin, warfarin or the antiplatelet medication such as aspirin are prominently used. These drugs help in thinning the blood thereby minimizing the probability of thrombus formation and the travel of clot towards the brain. The patient should take care and bring a clear change in their life styles by quitting smoking, eating a healthy diet with lots of fruits, weight loss, and regular exercise.

Corporate Governance and Value Creation Relationship

Corporate Governance and Value Creation Relationship Department of Economics VALUE CREATION AND THE ROLE OF CORPORATE GOVERNANCE Abstract Corporate Governance is a subject of many professional and academic debates. Since there are many different research and contexts associated with corporate governance problem, then, this topic has continued to be an interesting topic under scrutiny. However, is has been observed that the relationship between corporate governance and value creation of corporation remains as an untapped area with enough consideration. This paper tends to investigate this linkage and using Enron case as critical analysis. TABLE OF CONTENTS (JUMP TO) 1. Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2. Literature Review. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 3. Corporate governance and performance of the company . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 3. 1. Definition and explanation of key concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 3. 1. 1. The concept of corporate governance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 3. 2. 2. The concept of value creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 3. 2. 2. 1. Definition of value creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 3. 2. 2. 2. The importance of value creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 3. 2. 2. 3. Measuring Value-creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 3. 2. The impact of corporate governance in the Value Creation. . . . . . . . . . . . . . . . . . . . . . . . . . 17 4. The role of finance in creating value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 4. 1. The principles of management by the financial value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 4. 1. 1. The principle of double market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 4. 1. 2. The principle of identifying financial levers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 4. 1. 3. The principle of internal steering. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 4. 2. The mechanisms and the extent of creating value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 4. 2. 1. The economic indicators. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 4. 2. 2. The indicators such as accounting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 4. 2. 3. The nature of stock market indicators. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 4. 3. The limits of management by the financial value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264. 3. 1. Scope limited and performance standards unrealistic. . . . . . . . . . . . . . . . . . . . 26 4. 3. 2. Transfer of risk to the employee shareholder. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 4. 3. 3. Focus on short-term and limits the cost of capital. . . . . . . . . . . . . . . . . . . . . . . . 27 5. Critical approach to corporate governance: the case of Enron. . . . . . . . . . . . . . . . . . . . . . . . 29 5. 1. Introduction of the Enron affair. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 5. 2. Enrons scandal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 5. 3. The consequences of this scandal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 5. 4. The lesson from Enron Case. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 6. Conclusion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 7. Further study recommendation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 List of Abbreviations NGO Non- Governmental Organization US United State CEO Chief Executive Officer BOD Board of Directors COO Chief Operating Officer CFO Chief Financial Officer CRO Chief Risk Officer CFROI Cash Flow Return on Investment EVA Economic Value Added RCF Residual Cash Flow DCF Discounted Cash Flow CVA Cash Value Added RAN The Rainforest Action Network MFV Management by the Financial Value TSR Total Shareholder Return MVA Market Value Added NPV Net Present Value EPS Earnings per Share ROE Return on Equity EROR Economic Rate of Return PBR Price to Book Ratio 1. Introduction The successive industrial revolutions of the late eighteenth and nineteenth century were a major factor for the development of Western capitalism and gave gradually traits that characterize it today. In this movement, the company as a structure that brings together human beings who are organized to act on nature to obtain useful results and thus create value has always been at the heart of the capitalist system. However, in recent decades, many changes have affected the financial-market capitalism and gave new prominence to creating value for shareholders of the company. This has resulted in the emergence of a form of management oriented to advance the financial value and mobilize employees to that goal. This focus on value creation reflects a desire to meet the requirements of the shareholder because it has become in the current financial world a king increasingly adulated and increasingly capricious. Undoubtedly, this logic has largely influenced the conduct of the strategy of com panies that demonstrate ingenuity to cope with competition and remain competitive. However, it has undergone profound questioned at a number of scandals that have marked with an indelible history of finance and have been accompanied by strengthening institutional mechanisms for regulation of businesses and financial markets. In such a context of questioning, suspicion and doubt in respect of managerial practices, questions about the role of governance and firms value creation does it not absolute importance to apprehend the changes that occurring within the company? The aim of this paper is to answer this question. The structure of the paper is organized as follows. Section 1 provides a background of what has been done in the literature in the effort to capture relationship between corporate governance and value creation. Section 2 introduces the key concepts such as corporate governance and value creation. Section 3 illustrates the role of finance in creating value in firms. Empirical approach are presented and discussed in section 4, with special stress on the managerial behaviour in Enrons Company. Section 5 will conclude and propose further areas of research. 2. Literature review On the topic of relationship between corporate governance and value creation, there have been various researches and conclusions. Before examining about the relationship between corporate governance and value creation, many early studies has explored the linkage between Ownership and Value Creation as a beginning. Talking about owners who have been passionate about their ideas and visions to create the best value for their company, study named Ownership and Value creation of Carlsson. R. H (2001) gave a valuable historical review and illustration with case how active ownership has played an important role in company development. Through this book, we can see that ownership makes significant differences in corporate governance, it fulfils an indispensable role in the market and its quality made firm the best value. Later, in his research Corporate Governance and Value Creation, Jean-Paul Page (2005) has referred to the financial approach to corporate governance in his analysis. He has explored the connection between the foundation of power and decision making to create the large value for firms. In order to focus on an in-depth analysis of the links between value creation and governance, his research started with the assumption that regulation and laws exist to constrain corporate activities which could harm society as well as the economy, then corporate agreement is expected. Through a research, he tried to find the answers of who should hold the ultimate power which companies can create maximum value or how this power should be used. To do this, first, he discussed the delegation of shareholder power and a variety of standard to evaluate the performance of managers. Then, he presented a framework by which securities analysts can evaluate corporate governance system. As the result of his study , he strongly believed that directors of companies have the necessary judgment to discharge their value creation responsibility. Jean-Paul Page result is developed further in detail by Monks (2002) when he applied this theory into Volkswagen Company. After that, Huse (2007) successfully combines the behavioural of directors work and the value creation which contributes to both the practitioner and the academic debate. Huses book is based on two key ideas: the main task of a broad of director is to create value for company and looking inside board to understand the value creation process needs. His book provided a good discussion about governance effectiveness and value creation by an exploration of behavioural perspectives on governance and how various types of related factors influence governance as well as value creation. In addition, in his recent research named The Value Broad: Corporate governance and organizational behaviour in 2008, he aimed to go further and explore actual behaviour in creating value from entrepreneurial management perception throughout various European countries such as Netherlands, Italy. Beside, The differentiated Network: Organizing Multinational Corporation for value creation of Nohria. N and Ghoshal. S (1997) was successful to present the globally distributed capabilities of multinational corporations and organize these corporations for value creation. This study is built to develop these ideas of both authors above. Besides theoretical research and studies, many case studies were analysed to examine the implication of all theories in the real economic market. Case study in Finances: Managing for Corporate Value Creation of Bruner. R. F (1990) provided numerous financial analyses of the world famous and successful corporations such as Walt Disney, Atlantic Southeast Airlines, Morgan Stanley Group INC, Merit Marine Corporation. . . However, this analysis was published in 1990, it can not update with changes in the economy as well as financial scandals have been happened through recent years. Based on all these suggestions, an analysis of value creation and the role of corporate governance is an interesting paper. And Enrons scandal in 2001 is an updated illustration. 3. Corporate governance and performance of the company 3. 1. Definition and explanation of key concepts 3. 1. 1. The concept of corporate governance We can consider that the practices of corporate governance have ancient origins insofar as they are inseparable from the very concept of enterprise. Indeed, corporate governance problem was already in the eighteenth century. Adam Smith posed as soon as 1776, in the Wealth of Nations, the problem of separation of interests between managers and owners in companies per share. This question will take a new turn with the emergence in 1807 in France and then England with the Company Act and a little later the United States, the limited liability company. In general, governance refers to the governing relations between the leaders of a company more broadly, an organization and the parties concerned by the fate of the so-called organization, mainly those who hold legitimate rights - namely shareholders. Even if made generally and in order to illuminate our analysis, such a definition requires clarification. First, governance is focused on a category of actors of any organization: the lea ders of this organization, category sometimes reduced to a person, most often represented by a small group strongly hierarchical around the leader, sometimes expressed by semi-hierarchical and ill-defined contours. Whatever the difficulties of defining exactly and narrow, this category of actors always pay attention on a system of governance. Corporate governance can be seen as vast field and its works as regulatory body that includes (OECD, 2004): Chief Executive Officer (CEO) Board of Directors (BOD) Management of Organization Shareholders Stakeholders (Suppliers, Employees, Creditors, Clients and Social Communities) Then, the issue of governance is also the role and control of corporate officers in legal persons. The leaders of an organization finalized commercial, public . . . Speak and act on behalf of this organization: a title that they can buy, sells, hire, dismiss and so on. They have before it the financial, material, human, which can be considerable even excessive. Issues relating to their appointment as corporate officers, the conditions for exercising their mandates are, therefore, legitimate and make corporate governance a key point of management systems of the latter. Finally, the governance system includes various components that can be, simplifying, grouped into three sets of components: structures, procedures and behaviour. The structures involved in the governance system are varied. Some are specific to the organization concerned: general meeting, board of directors, ad hoc committees. Others are external and intervene on the basis of contractual missions (auditors, rating agencies) or as part of missions of general interest (regulatory authorities). The procedures are also very varied and more or less diversified in codes or codes imposed on the actors involved (chart of accounts, commercial code . . . ). They may involve both methods of collection and dissemination of information on the functioning of the entities concerned that ways and means to carry out such an operation such as changing the parameters of the structure or listing on the financial market. The behaviour complements the first two components by providing a dimension without which they would remain for the most formal. Such behaviour are those agents individuals is not the legal fiction made up by legal persons involved in the institutional and responsible to implement it and animate it. Therefore, their best practices, their ethics or, conversely, their lack of scruples and their departures were a major part in the effectiveness of governance systems like any human system. In their brilliant literature review of corporate governance topic, Shleifer and Vishny (1997) offered a definition of corporate governance: Corporate governance deals with the ways in which suppliers of finance to corporations assure themselves of getting a return on their investment (p. 737). This notion of governance seems rather simplistic. Because it is limited to the individual control worked out by shareholders and ignores the rights of all the other stakeholders in the company such as creditors, suppliers, customers, employees, and finally, the State and society in general. Indeed, the shareholder affects some form of power and imposes limits in varying degrees that affect value creation. Besides, this definition of governance fails to take into account the implicit rules and standard such as legislation, regulations and contracts. All these things actually have an important influence on final decision. In his book, Jean- Paul also gave the broad definition of corporate governance as follows: Corporate governance consists of the legal, contractual, and implicit frameworks that define the exercise of power within a company, that influence decision making, that allow the stakeholders to assume their responsibilities, and that ensure that their rights and privileges are respected. (pp. 2) To be successful in this notion, corporations must acquire the best resources such as: finance, material and human at the best if they want to create value or wealth. Good corporate governance is assessed in a book named Corporate Governance: Responsibilities, Risk and Remuneration, Keasey. K and Wright. M (1997) He defined a good corporate governance is as concerned with correctly motivating managerial behaviour towards improving the business, as directly controlling the behaviour of managers. They also analysed executive remuneration is one mean of motivating good behaviour. Illustrating the standard corporate governance frame work, both authors above indicated that the key elements concern the enhancement of corporate governance is via supervisors of management performance and ensuring the accountability of management to shareholder and other stakeholders. Analysis of a frame work of corporate governance was also carried by Hart (1995). He discussed the need for accountability and supervisor of director come up because there is a divorce between ownership and control power in large firms. According Harts study, supervision may take various forms ranging form system where shareholders are outsiders with little direct incentive to monitor management. Moreover, Whittington (1993) argued that is has to be noted that the accountability and supervision aspects take place within a wider regulatory framework which regulates relationship with external third party contractors. 3. 1. 2. The concept of value creation 3. 1. 2. 1. Definition of Value Creation As for value creation, it is an ambiguous concept because of the multiplicity of managerial practices associated with it: exchange value, book value or economic value partnership, value for the customer, and so on. In all case, the most important objective of every firm is to maximize resource allocation, to produce as much economic value as much as possible and to look up social well-being. Offering the best product and services at reasonable price is the way which firms can do to achieve these objective above. Jean-Paul Page (2005) examined economic value as creating wealth. Because the firms wealth is measured by the value of their product on the market, then, creating value for firm mean company will observe its prices and value increase as demand for its services and goods rises. Concisely, creating economic value means increasing in firms value, increasing in share price and creating wealth. As a result, corporate governance have to focus on decision that tend to maximize share price and then on the creation of economic value. This way will translate the wealth creation objective of firms into tangible results. 3. 1. 2. 2. The importance of value creation In his academic journal, Favaro. Khas proved that if firm puts their value creation as a first strategy, it will help a corporation growth in the greatest rate. First of all, by understanding how, why, where the value is created within your company; which is the market where your company perform best; identifying which of your companys activity and asset is distinctive enough to be a profitable growth will tell your company where and how to grow. The best example of this case, we have to mention about Coca -cola. Since the early of 1980s, Coca-colas leader discovered the value creation in their mix businesses and in the entire beverage system; then, this company have taken a major growth opportunity in their core business. Secondly, there are two advantages which putting value creation first can gives firms are: capital and talent. When firm set value creation first, they will never suffer from a capital shortage. Favaro gave explanation that, these companies which put value creation first will find sufficient capital for their investment needs and can attract a large capital from the market, and then they never miss any investment opportunities. In addition, knowing all important targets, these companies also understand how important the high standard and good qualification managers are. Therefore, over time, these firms will build a team of manager with better capabilities and standards. This will give company more managerial talent and help these companies achieve higher level of profitable and also sustainable growth than their competitors. Value creation enhances companys ability to grow up which requires perseverance Discipline and leadership skills. Through his experience, Favaro suggests that: By product, channel, customer, market and technology; skilled managers who always put value creation first will understand how or why value is created or destroyed. Then, they will know whatever cut will be the best reveal the truly capabilities or asset which their company have to do to get profitable and growth. Promoting, celebrating and rewarding managers who see growth is an outcome of their focus on value creation. Briefly, if a company put value creation first in the right way, their managers can identify how and where to grow, they will use capital better than others and build up more talents. Consequently, value creation will offer you a vast advantage to achieve profitable and long-term growth. It should be noted that these multiple approaches are experiencing varying degrees of success. Thus, while some of them are rather a fashion effect, others seem more rooted in the reality of management. This is particularly the case in the field of strategy with the general themes related to the competitive advantage that determines the value that a company can create for its customers and in the field of finance with the concept of maximizing the shareholder value. However, there are two themes refer to distinct managerial logic. In schematising, one can oppose a logic of financial reform dominated the creation of financial value and logic of integration that connects the various aspects of value creation. The financial approach emphasizes the idea that any asset is comparable, at least conceptually, a financial asset whose correct measure is the present value of expected flows of that asset, given the risk that it is linked. Thus, by analogy with financial assets, it is possible to buy or sell at any time comparable assets or reinvest the funds on other opportunities. The option is part of choice and is a factor of flexibility. The logic of integration recognizes the importance of value creation but the analysis as the result of a synthesis of different components of value, whether organizational aspects, competitive or institutional. It puts forward concepts such as basic skills, know-how of cooperation and coordination, competitive advantage. It requires a broader view of performance and the development of a scoreboard, including non-financial aspects. This concept of value creation is currently experiencing a revival and for several reasons. This renewal first undoubtedly result of the transformation of financial capitalism and its origin movements takeover carried out on companies that exploitation not effectively their asset base for shareholders. These practices have provided external visibility to market discipline that has prompted leaders to do more attention to creating value and bring back the shareholder at the centre of the strategy. In addition, development of globalization and the rise of new technologies of information and communication technologies have accelerated the process of internationalization of enterprises and networking complex and globalize. The result is a financial reform of the strategy based on the refocusing on the principal market and the pursuit of critical size. That is why the purchase of shares and options markets external growth is systematically privileged at the expense of endogenous development of the company. But for institutional investors, who control more companies using their power, the ability of business to create value is an essential criterion of assessment. Finally, another external factor that has boosted the value creation is the gradual disappearance of state monopolies especially in the case of France. The purpose of the public monopoly system based on the existence of cross-shareholdings is to ensure a stable partnership. The financial globalization has gradually reduce d the interest of a national shareholding making less essential closures capital that provides few resources. 3. 1. 2. 3. Measuring Value-creation: When evaluating value creation, there are three main measurements are: Cash Flow Return on Investment (CFROI), Economic Value Added (EVA), and Residual Cash Flow (RCF). G. Bennett Stewart III (1991). The Quest for Value. HarperCollins discussed Economic Value Added (EVA) as the heart and soul of Value planning. He described EVA is the one measure which properly accounts for all the complex trade-offs involved in creating value. EVA computed by taking the spread between the rate of return on capital r and the cost of capital c* and then multiplying by the economic book value of the capital committed to the business: EVA = (r-c*) x Capital EVA = (rate of return cost of capital) x capital EVA will increase when: The rate of return earned on the existing base of capital improves; that is, more operating profits are generated without tying up more funds in the business. Additional capital is invested in projects that return more the cost of obtaining the new capital Capital is liquidated from, or further investment is curtailed in, substandard operations when inadequate return being earned. These are the only way in which value can be created

The World is Too Much With Us by William Wordsworth Essay -- William W

The World is Too Much With Us by William Wordsworth In William Wordsworth's 'The World is Too Much With Us,' this poem heeds warning to his generation. This warning is that they are losing sight of what is actually important in this world: nature and God. To some people both of these are the same thing '...as if lacking appreciation for the natural gifts of God is not sin enough, we add to it the insult of pride for our rape of His land' (Wordsworth). With his words, Wordsworth makes this message perpetual and everlasting. William Wordsworth loved nature and based many of his poems on it. He uses very strong diction to get his point and feelings across. This poem expresses Wordsworth's feeling about nature and religion containing a melodic rhythm (Wordsworth). Each line and each word were chosen very carefully to express his thoughts and feelings. His references to God and Greek Gods catch the reader's eye to find out why he connects God to nature (Gill). His soft tones and harsh words make the reader feel and see what the speaker do es. This relatively simple poem angrily states that human beings are too preoccupied with the material and have lost touch with the spiritual and with nature. The first part, the octave, of "The World Is Too Much with Us" begins with Wordsworth accusing the modern age of having lost its connection to nature and everything meaningful: "Getting and spending, we lay waste our powers; /Little we see in Nature that is ours; /We have given our ...

Pink-Dear Mr President Analysis

Pink wrote the song â€Å"Dear Mr. President,† on Martin Luther King Day in 2005. The song was released as a single in 2007 and became apart of her album I’m Not Dead. The song is a direct criticism of President George W. Bush and the policies of his administration. Pink addresses the major concerns of most Americans. The song begins â€Å"Dear Mr. President/ Come take a walk with me. Let’s pretend we’re just two people and/ You’re not better than me. † By stating this as an invitation Pink is directly asking the President to listen to her opinions.Through equalizing social standings, she is diminishing the respect that the President demands, Pink is stating that she will be truthful with him and not sugar coat Tanya Kaplan Song Analysis 03/10/09 her opinions. She will tell him the truth about what everyone is thinking but no one is willing to tell him directly. She states, â€Å"You have come along way from whiskey and cocaine,† addre ssing Mr. Bush’s tainted past, which the media seems to ignore. Pink asks Mr. Bush who he prays for at night. She also asks how he feels when he looks in the mirror and if he is proud of himself.These statements address that Mr. Bush forgot to make good on his promises to help people. He had the power to change society and be a positive force for society but failed to do so. Pink then asks Mr. Bush to look her in the eye, this is a sign that she is aware that he is not proud of his own and is unable to face his own actions, she is challenging him to state that he is proud of his actions. She is also addressing the political corruption that is believed to have occurred in the Bush administration.There are many policies, that were enacted, such as political detainees, which the President directly partook in, while the policy blatantly violated the principles set forth in our constitution. Pink addresses many social issues during this song. â€Å"How do you dream when a mother has no chance to say goodbye?†¦ Rebuilding your house after the bombs took them away,† this is a direct attack on the President’s Iraq war policy. There are thousands of mothers who have lost their children in the war on Iraq; some are soldiers while others are innocent children who are ystanders. During the Presidential Election of 2008, the majority of people stated that they did not support the war in Iraq; however, when this song was written it was very uncommon to have a majority of the people not support the war, let alone discuss the destruction that we are inflicting on the residents of Iraq and their infrastructure. The media did not portray the mass destruction inflicted on the country of Iraq or report the effect that the war was having on military families.There are additional hot button social issues that Pink addresses with the President through her song. She states â€Å"What kind of father would take his own daughter’s rights away? And what kind of father might hate his own daughter if she were gay? I can only imagine what the first lady has to say. † Tanya Kaplan Song Analysis 03/10/09 These statements denote George Bush’s policy of anti? abortion, his attempt to refute the Rowe v. Wade decision and to take away a women’s right to abortion.These statements also call into question the administrations anti? gay policies. Ironically Vice? President Cheney’s daughter is gay. It is near impossible to imagine how the President can instill his anti? gay rhetoric while his second in command’s child part takes in a homosexual lifestyle. One must truly wonder what the first lady does say to Mr. Bush, when such a close family friend is directly being affected by his distorted view of appropriate sexuality. Pink also address the non? action that was insinuated by the no child left behind act.The President adamantly states that he is helping the education system in the country through this act, ye t he fails to provide any sort of funding to instill his policy changes. How can one expect to implement new policies yet not provide any funds to do so, while billions of dollars are being spent to make war? Poverty is addressed when Pink explains that Mr. Bush has no idea what it is like to work from minimum wage and be pregnant, or how it would feel to sleep in a cardboard box. She states Mr. Bush knows nothing about hard work.This is a very plausible assertion considering that his own father was the President and he was raised in a more affluent segment of society. The song â€Å"Dear Mr. President† did not get large amounts of play time on the United States radio, in fact it got very little airtime. Pink was quoted as saying that she wrote the song as an attack on the President and his administration to prove that she could and what a great country that we live in to allow her to do so. The song provides for a valid attack on the policies of the Bush administration and o f President Bush himself.

Nebobites Ethical Dilemma Essay

This case involves a small public traded company named Nebobites, which manufactures dog treats. Jenny O. , CPA, is the new Assistant Controller for the Nebobites’ company, and her job is to review and audit the financial statements for the 2012 year. While reviewing the financial statements, Jenny noticed the company’s Allowance for Doubtful Accounts balance seemed significantly higher than in the past. This increase in the Allowance account was due to the Bad Debt Expense estimation being based off 3% of net credit sales instead of the prior years’ estimate of 1. %. The increase in Bad Debts expense as a result of the increase in estimate materially affected the 2012 earnings. However, 2012 had been a great year for earnings, so the additional expense did not disturb the earnings growth trend Nebobites’ had experienced in the past. However, upon further research, Jenny could find no justification for the increase in the Bad Debt Expense estimate from 1. 5% of net credit sales to 3%. Jenny decides to approach her boss, the Controller, Maxwell Devious. He tells Jenny he is aware of the practice known as â€Å"income smoothing. Maxwell Devious says showing a steady growth in earnings was essential to keep the Nebobite stock price high as possible as the Smith family planned to sell-off a significant number of shares in early 2014. Jenny feels extremely uncomfortable with this practice, and she knows that this year’s financial statements will retain an overstated Bad Debt Expense estimate and more than likely result in an understated Bad Debt Expense estimate in 2013. 2. An ethical decision must be made by Jenny, because she is going to have to decide what is morally right or wrong. This fake presentation of increase in earnings will potentially affect every stakeholder involved with the company including their shareholders, creditors, management, employees and the customers. This faulty practice will leave an overstated Bad Debt Expense estimate for the year and more than likely result in an understated Bad Debt Expense estimate in 2013. Jenny needs to decide whether she thinks it is more important to look profitable to investors and appear to have greater wealth or is it more important to show creditors that they do not have sufficient funds to cover their debts. She also knows that Maxwell Devious, the Controller, has an employee profit sharing plan, a management bonus plan based on earnings, significant bank loans outstanding and is planning on raising funds through a bond issue in 2014; all of these are affected by the earnings for the year. 3. By deciding not to change the estimate back to the appropriate percentage of 1. 5%, it does single out individuals and the upper management group. These individuals that are Jenny’s superiors simply do not want her to make the adjustment because it is in their best interest (looking profitable & performance bonuses) and not in the company and its stakeholders’ best interest as a whole. It is also a legal violation because the company’s CEO and other top-level personnel should swear that all financial data for the company is relevant and accurate, and they knowingly defy corporate policies and the GAAP. 4. In this particular situation, Jenny is faced with a couple options; some of which are favorable, others not so much. Jenny can choose to abide by her scandalous boss, and decide to go along with the inappropriate change in estimate. This choice may blow over for the time being, but in the long run, Jenny and the company may be audited in the future exploiting their mistakes made in the 2012 financial statements. This could cause Jenny to be immediately terminated when the mistakes were finally found, as well as the possibility of jail time after an investigation and trial. Another possible route Jenny could take would be to report the inappropriate practices to an outsider’s attention, such as an external auditing firm. By doing so, she could save her job possibly for the time the company is being investigated, but may later be fired. Although she will eventually have to find a new job, this choice may save her from being in trouble with the law and potentially boost her chances of finding a new job due to her discovery at Nebobites. Another final option that I would see plausible in this situation would be to simply quit, if the Controller did not want to change the estimation and swear on the financial statements. The legal risk is too high in the case, and you do not want the downfall of Nebobites to be on your shoulders. 5. By deciding to go along with the inappropriate change in estimate, Jenny’s job may be safe for the time being, but in the long run, Jenny and the company may be audited in the future exploiting their mistakes made in the 2012 financial statements. This could cause Jenny to be immediately terminated when the mistakes were finally found, as well as the possibility of jail time after an investigation and trial. This is morally and legally wrong because she knowingly goes against corporate policies and the generally accepted accounting principles in order to reap the benefits. By reporting the inappropriate practices to an outsider’s attention, such as an external auditing firm, she could save her job possibly for the time the company is being investigated, but may later be fired. Although she will eventually have to find a new job, this choice may save her from being in trouble with the law and potentially boost her chances of finding a new job due to her discovery at Nebobites. By choosing this option, Jenny acts in a dignified and legal manner. She knows that she is doing what is right and is protecting stakeholders of the company. The other option of simply just resigning or quitting her position would not have much effect on the company. She is acting morally because she is not going along with the inappropriate practices of Nebobites, but she is not doing what is in the best interest for all stakeholders. The company will most likely find a new Assistant Controller for the operation who will go along with the unlawful scheme. This ultimately resulting in the downfall of the company, when Jenny could have prevented this and saved thousands of jobs by alerting an outside auditor. 6. By alerting an outside auditor to investigate this situation, Jenny does what is in the best interest for all stakeholders. This will eventually reveal the truth and allow shareholders to see the negative affect on stock prices, creditors can be informed on the debt situation of our company and be aware of the risk of dealing with us. Management will be disappointed with the actions of Jenny, in which they sacrificed their performance bonuses and will most likely fire her. The company will still have a chance to flourish, however, when the economy turns back around. By keeping the inappropriate estimate, Jenny will most likely be in the praises of her superiors for the bonuses they received; but, in the longer run, the company’s financial statements will be inaccurate and liabilities to creditors will go unpaid. Shareholders will actual lose more money and the company has the potential to go bankrupt any day if the economy does not take a sudden turn around. The top executives, as well as Jenny, should live in fear of being exploited of their misinterpretations and eventually will get caught up in severe legal trouble. If Jenny simply quit without seeking outside assistance from auditors, she is still acting in a somewhat immoral and illegal manner. This is because the stakeholders of the company will inevitably still be in serious trouble due to the deception of Jenny and the upper management of the Nebobites’ company. . I believe that it is in the best interest for Jenny to consult an outside auditing firm. Although it could potentially make her lose her job when her superiors are notified, it enlightens all stakeholders involved with the Nebobites’ company. The risk is too great if Jenny decides to leave the inappropriate estimate as is; she risks not only losing her job, bu t also risks going to jail, as well as losing her CPA license entirely. It is worth far more in life to be an honest and truthful person who looks out for others than it is to be a deceitful and uncaring.

50 Greek and Latin Root Words

50 Greek and Latin Root Words In English grammar, a  root  is a word or portion of a word from which other words grow, usually through the addition of  prefixes and suffixes. By learning root words, you can decipher unfamiliar words, expand your vocabulary, and become a better English speaker.   The Roots of Words Most words in the English language are based on words from ancient Greek and Latin. The root of the word vocabulary, for example, is ​voc, a Latin root meaning word or name. This root also appears in such  words  as advocacy, convocation, evocative, vocal, and vowel. By dissecting words such as these, etymologists can study how a word has evolved over time and tell us about the cultures they came from. Root words are also useful for creating new words, especially in technology and medicine, where new innovations occur frequently. Think of the Greek root word tele, which means far, and inventions that traverse long distances, such as the telegraph, telephone, and television. The word technology itself is a combination of two other Greek root words, techne, meaning skill or art, and logos, or study. Greek Root Words The table below defines and illustrates 25  of the most common Greek roots. Root Meaning Examples anti against antibacterial, antidote, antithesis ast(er) star asteroid, astronomy, astronaut aqu water aquarium, aquatic, aqualung auto self automatic, automate, autobiograph biblio book bibliography, bibliophile bio life biography, biology, biodegradable chrome color monochromatic, phytochrome chrono time chronic, synchronize, chronicle doc teach document, docile, doctrinal dyna power dynasty, dynamic, dynamite geo earth geography, geology, geometry gno to know agnostic, acknowledge graph write autograph, graphic, demographic hydr water dehydrate, hydrant, hydropower kinesis movement kinetic, photokinesis logos word, study astrology, biology, theologian narc sleep narcotic, narcolepsy path feel empathy, pathetic, apathy phil love philosophy, bibliophile, philanthropy phon sound microphone, phonograph, telephone photo light photograph, photocopy, photon schem plan scheme, schematic syn together, with synthetic, photosynthesis tele far telescope, telepathy, television tropos turning heliotrope, tropical Latin Root Words The table below defines and illustrates 25  of the most common Latin  roots. Root Meaning Examples ab to move away abstract, abstain, aversion acer, acri bitter acrid, acrimony, exacerbate audi hear audible, audience, auditorium bene good benefit, benign, benefactor brev short abbreviate, brief circ round circus, circulate dict say dictate, edict, dictionary duc lead, make deduce, produce, educate fund bottom founder, foundation, funding gen to birth gene, generate, generous hab to have ability, exhibit, inhabit jur law jury, justice, justify lev to lift levitate, elevate, leverage log, logue thought logic, apologize, analogy luc, lum light lucid, illuminate, translucent manu hand manual, manicure, manipulate mis, mit send missile, transmit, permit omni all omnivorous, omnipotent, omniscent pac peace pacify, pacific, pacifist port carry export, import, important quit silent, restive tranquil, requiem, acquit scrib, script to write script, proscribe, describe sens to feel sensitive, sentient, resent terr earth terrain, territory, extraterrestrial tim to fear timid, timorous vac empty vacuum, vacate, evacuate vid, vis to see video, vivid, invisible ​Understanding the meanings of the common word roots can help us deduce the meanings of new words that we encounter. But be careful: root words can have more than one meaning as well as various shades of meaning. In addition, words that look similar may  derive  from different roots. Sources Bryant, Alice, and Robbins, Jill. Grow Your Vocabulary by Learning Root Words. VOANews.com, 28 November 2017.Grammarly staff. Why You Should Learn Roots. Grammarly.com, 6 February 2016.McCammon, Ellen. 50 GRE Words You Should Know. PrepScholar.com, 8 February 2017.