The Adventures of Huckleberry Finn and the journey throughou essays

The Adventures of Huckleberry Finn and the journey throughou essays Journey is a word that can be used to describe a physical travel, a switch from different mental states, or even a change in personality. In the Adventures of Huckleberry Finn, journey is used in all these contexts. The theme of journey is evident and is significant throughout the novel. According to Dictionary.com, the definition of journey is The act of traveling from one place to another. [. . .] A process or course likened to traveling; a passage: the journey of life. Plots like the one in the Adventures of Huckleberry Finn are characteristics of a special type of novel, the picaresque novel. This particular form of the roman adventures may be defined as The prose autobiography of a real or fictitious personage who describes his experiences as a social parasite, and who satirizes the society which he has exploited. (Picaresque Novel) The 1911 Edition Encyclopedia, April 7, 2004 1911encyclopedia.org. There is no doubt that Mark Twain borrowed from the traditions of the picaresque novel, especially from Don Quixote. Consequently, a series of physical journeys occur in the novel. One example of a physical journey is Hucks move from the sivilized Widow Douglas house in the community to the unclean, uncivilized home setting of Hucks father, Pap. So he watched out for me one day in the spring, and catched me, and took me up the river about three mile in a skiff, and crossed over to the Illinois shore where it was woody and there warn't no houses but an old log hut in a place where the timber was so thick you couldn't find it if you didn't know where it was. (Huckleberry Finn, 18). Another physical journey in the novel is Huck and Jims traveling from Hannibal, Missouri to Pikesville, Arkansas. The reader is taken on a tumultuous journey from Hannibal, Missouri to Pikesville, Arkansas that gives as much attention to th...

Should You Take Online AP Courses 12 Pros and Cons

Should You Take Online AP Courses 12 Pros and Cons SAT / ACT Prep Online Guides and Tips There are a variety of reasons why you might want to take online AP courses. Maybe your school doesn’t offer all of the courses you want to take, or you’re homeschooled, or you want to do a little extra academic work to show colleges what you’re passionate about. But there’s a lot to consider before you take the plunge (and possibly drop a few hundred dollars on a class).I’ll take you through some basic information on online AP courses, some pros and cons, who should consider them, and how to choose classes if you do decide to take an AP course online. Finally, I’ll offer some brief blurbs on some of the most popular courses out there. What Is an Online AP Class? An online AP class is meant to mimic the material and workload of an in-person AP course from afar, and to prepare you for the AP exam. So you’ll have readings, lectures, quizzes, and exams just like in regular school, but all of your communication with your teacher (and potentially other students, depending on the course) will take place through your computerprobably mostly through e-mail and IM, although maybe some videochatting or virtual lecture sessions depending on the course. The truth is that every AP class you could take online is going to be a little different, which is why if you do decide to take one (or more), doing research on which course to enroll in is very important. Some are accredited by the College Board, some aren’t; some are free, some cost almost a thousand dollars a pop. Some are essentially graded independent study and others have scheduled virtual â€Å"class† meeting times. That said, there are still some general pros and cons to taking AP courses online. 6 Benefits ofTaking AP Courses Online You can take AP classes that are not offered by your school. You can probably get credit toward graduating high school, although it may just be pass/fail credit on your official high school transcript. You’ll have some flexibility in when you get the work done, so if you have an unusual schedule it might be a good choice for you. You might be able to connect with like-minded students with similar interests! This may be an especial benefit if you are homeschooled or live in a rural area. Depending on where you live, you may be able to take the class for free! Many states have at least one program that is free or low-cost to residents. If you are self-motivated, you may enjoy the semi independent-study format of many of the classes. 6 Drawbacks toTaking AP Courses Online It may or may not boost your official high school GPA. Some high schools will put the letter grade on your transcript, some won’t count the class at all, and some will allow you to count the class as credit, but only as pass/fail. Some of these classes are expensive! Depending on the class and your level of motivation, it may make more sense to self-study for the AP test and then take the exam. If you live in a rural area, you will still need to find a brick-and-mortar school where you can take the exam. This is not necessarily a bad thing, but it is something you will need to keep in mindthe online course won’t coordinate your exam arrangements for you. If you have a hard time getting work done without some supervision, an online course may not have enough accountability for you to get the work done and really get something out of the class, let alone be prepared for the exam. Some of the classes are mostly text-based and not very interactive, so if that’s a hard way for you to learn, it may not be the best option for you. Some classes have been criticized for being an easy A that does not actually prepare you for the AP exam. So read reviews and research carefully! With all this in mind, how do you decide if you should take AP classes online? With the magic of the internet, the world is your classroom! That was corny, sorry. Are Online AP Classes a Good Fit For Me? The number one question you need to ask yourself when deciding to undertake online AP coursework is: why am I doing this? See below for some potential answers and my thoughts. #1: My school doesn’t offer this AP class that I find interesting/valuable/important This is a good reason to take an AP class online! If you don’t have another way of taking the class, and you are invested in the material, you are an ideal candidate for taking online AP classes. Particularly if you live in a rural area and go to a small high school, you should check if your school already partners with an online AP course provider.If so, you will probably be able to take the class for free, have time during the school day to do coursework, and have the class on your official high school transcript! Wins all around. #2: I’m home-schooled and I want to take an accredited (i.e. College Board approved) AP course This is another good reason to go online, although it’s worth noting that the person teaching you at home can get their AP curriculum accredited if they so desire. (More information can be found in our guide to passing yourCollege Board Course Audit.) In that case, you can have the class listed as AP on your transcript. Of course, your home-teacher may not feel equipped to teach you the material, in which case it makes total sense to take an online course. Another benefit to this is that an online course may help you connect with other students, depending on the platform. If your only concern is taking the exam, and you don’t care about having a transcript and grade for the course, you could also consider self-study. Home-schoolers can also list their exam prep â€Å"class† as â€Å"Honors† even if their home course is not accredited by the AP. #3: I have an unusual schedule/scheduling conflict If you have some kind of scheduling conflict with your school’s in-class AP course- maybe there are two AP classes you want to take that meet at the same time, or you are on a work-study program- online courses may be a good option. However, keep in mind that you may not be able to get a letter grade for the online class on your high school transcript even if you can get credit. If this is the case and you’re a junior, you might consider taking the class through your school next year. #4: I want to take an AP class over the summer If there’s an AP class you want to take over the summer that doesn’t work for you during the school year, online courses can be a great way to make that happen. However, you will have to spend a decent amount of time reviewing the material during the following school year if you want to remember anything for the AP exam the following May! This cherub is thinking deeply about his class schedule. Either that, or napping. #5: I want to boost my GPA Your school may or may not allow you to count your letter grade in an online AP course on your high school transcript. They may not give credit, or you may only get pass/fail credit on your official transcript. So if you want a GPA boost, definitely discuss whether the class will even factor into your GPA before enrolling! If you are concerned about your GPA, I would advise you to talk to a guidance counselor at your school. You might also read our article on applying to college with a low GPA. #6: I think it will look good to colleges Taking an online AP course may or may not look good to colleges depending on your circumstances. If you are taking it because it’s not offered at your school or you have a conflict and you’re really interested in the material, it will signal that you are self-motivated and invested in learning. Great! If, however, you want to take online AP courses because you are already stacked six AP courses this year and this is the only way you could possibly fit in more, possibly reconsider. Colleges like candidates who have some interests outside of class- your entire waking life shouldn’t be spent doing AP coursework and preparing for exams. Consider an extracurricular. #7: I want college credit Keep in mind: only some colleges will give you credit for high scores on AP tests,and the score cutoff is different at different schools (some will give credit for a 3, while others will only give credit for a 5). Make sure you know the score cutoffs and credit policies for colleges you are interested in. Another thing to remember is that credit is determined by yourscore on the exam, not whether you took the class or not- so you could self-study if you think you could get the necessary credit that way. #8: I don’t know! If you don’t really know exactly why you would be taking an online AP course, don’t do it until you figure it out. If you don’t have a sense of purpose you won’t be motivated to put in the additional workespecially because online classes tend to be more self-directed than in-person ones. You'll notice I've mentioned self-study several times in the above list. So you are probably wondering what the different is between self-study and an online AP course, and why you would choose one or the other. Read on! What’s the Difference Between an Online AP Class and Self-Study? If you take an accredited (College Board-approved) online AP class, you will get a transcript with aletter grade that shows that you took the AP-level course, which you can send to colleges. You may even be able to get credit towards graduation and have the class be listed on your transcript for your regular brick-and-mortar school, depending on your school’s policies. However, the College Board does not require you to take a class before you can take the AP exam in that subject.This means that you are allowed to self-study- that is, use resources like books, lecture videos, and internet sites to prepare for the exam on your own. In this case you won’t have a class listed on any transcript or a letter grade, but if you do well on the test, you can still potentially get college credit for it, and send in the scores to colleges. Self-studying is a good option if you already have a baseline knowledge level in the subject area, if you are very self-directed, and if all you care about is taking the exam and getting a target score. If you aren’t at all familiar with the material, you aren’t very self-directed, or you want to have a record that you took the course, take an online class instead. If you’ve made the decision to take an online AP course and you’re going to take the plunge, how do you pick from the hundreds of courses available? Online means no blackboard erasers! If people even use those anymore. How Should I Choose My Online AP Course? There are hundreds, if not thousands, of options for online AP courses out there. And they are not all created equal. There are a number of factors you should consider when selecting a course: #1: Is the course accredited by the College Board? In other words, is it an official College-Board approved AP course? You can search for a course in the AP course ledger if you aren’t sure. If it’s not accredited, it’s basically providing self-study materials to you,because any transcript you get from the course won’t say â€Å"AP.† This could be fine if your goal is just to prepare for the test, but it's something to be mindful of, particularly with respect to the quality of the material. I would hesitate to lay down five hundred hard-earned dollars on a non-accredited course. #2: Are there admission requirements? Some online AP course providers, like John Hopkins’ Center for Talented Youth and Stanford Online High School, have prerequisites or pre-test requirements. Make sure you qualify! #3: Are you confident it’s a high-quality course? For starters, make sure to check outreviews from other people who have taken the course (you could try College Confidential). Here are a few hallmarks of a well-organized course: Are teachers accessible and consistent? Is tech support available to assist with any difficulties you may have? Are there statistics on how well the students do on the AP after taking the course? #4: What’s your budget? Some more â€Å"elite† online courses will run you almost a thousand dollars for an AP class.However, some of these providers also have some form or another of financial aid, so be sure to research that before writing them off.You can certainly find a high-quality AP course that’s a little less expensive. You may just have to look harder. For more ideas foronline AP classesat a variety of price points,check out our article on the best and worst online AP courses, reviewed. Check if your school already has a contract with a remote AP class provider. In this case you can probably take the class for free!Some states also have low or no-cost online classes for residents. The Florida Virtual School offers classes free to FL residents, and Scout, through the University of California, offers some material free to California public school students. #5: How self-directed are you? Some courses will allow you to set your own schedule and have pace flexibility- you’ll be given materials and access to an instructor if you have questions, but it will be more or less a free-range experience. Other classes have scheduled lecture sections and you will lose points if you turn in assignments and assessments late. Be honest with yourself and choose the style that will allow you to get the most out of the course. #6: Will you interact with other students? Is it important to you to have some way to interact or collaborate with the other students in the class through message boards or projects? In this case, make sure your course offers this. #7: Can you do a trial or get a refund if you drop the course early on? If it’s an expensive class, you probably want to make sure that you can get at least a partial refund if you drop the class two weeks in if you change your mind or something comes up. #8: Do you have access to a computer that meets the technical requirements of the course? Since it’s computer-based, the class may have operating system or browser requirements.You don’t want to sign up for a class only to find that you can’t make it work on your computer! He looks like he'd be a great online AP teacher. Very modern. Popular Online AP Courses There are approximately one gajillion online AP classes out there, butyou may or may not want to sift through them all looking for that perfect Cinderella-shoe fit. Luckily for you, I have done a lot of sifting myself and have a brief list of some well-regarded online AP courses. AP US History from the UC system’s Scout program - This course is well-liked for its engaging multimedia lessons and variety in preparation material. Cheaper for CA students, but one of the less expensive options overall. AP Biology from Apex Learning - AP Biology from Apex is commended for its comprehensive virtual lab component- something lacking from many online AP science providers. AP Chemistry from ChemAdvantage - This husband and wife team teach AP Chemistry online with a robust lab component and lots of instructor attention. While primarily for homeschoolers, their FAQ says that they may be able to accommodate students whose schools simply don’t offer AP Chem. AP Psychology from the Florida Virtual School - Students liked this class for being relatively straightforward, although it is mostly self-paced. AP Human Geography from the Florida Virtual School - Students like this class for teacher accessibility and an appropriate difficulty level- interesting, but not frustrating. AP Art History from the Florida Virtual School - Students enjoy the interactive gallery format and find that they retain the material because it is presented so engagingly. AP CS A from the Florida Virtual School - Students feel that not only is Computer Science a natural fit from an online school, FLVS teaches a strong coding foundation and really prepares you for the exam. Plus, it’s fun! For homeschooled students in any state, PA Homeschoolers AP Courses are very well-reviewed, with outstanding teachers being the number one benefit. AP History and English classes are particularly well-liked. However, you must be a homeschooled student to register. Other generally well-regarded online AP providers includeStanford Online High School, Northwestern Center for Talent Development, and Johns Hopkins Center for Talented Youth.These providers are specifically for gifted students and have admissions requirements. Theyare generally considered quite comprehensive and in-depth. Choose the course with the most dinosaurs. Getting the Most Out of Online AP Classes If you are going to take AP courses online, you want to make sure you get as much out of them that you possibly can. There’s no point in going to the trouble of taking the class if you aren’t going to learn anything! So how can you succeed? Treat it like a real course - Resist the temptation to slack off just because it’s online and you don’t have to face your teacher in real life. Schedule time to work on it - Set aside specific time slots every week when you are going to work on the course. This will help keep you from falling behind, and improve your ability to take the course seriously. Minimize distractions - When you are doing online coursework, make sure you are in a good working environment like a library or a quiet desk. Don’t turn the TV on, and I advise not working in bed. Utilize the teacher - If you have questions, get in touch with your teacher! One of the advantages of an online course over self-study is that you have access to a paid professional to explain confusing concepts to you if you need it. If you are diligent about keeping on track and get help when you need it, you will find the class much more valuable. Online AP Courses: The Bottom Line Online APs are a great choice for students with unusual schedules or at schools with slim AP offerings. With that said, it’s important to do your research before enrolling in an online AP class. Look for reviews online, check the price point, and triple-check your school’s policies on GPA and credit-transferring the online courses before you take the plunge! What's Next? For more in-depth reviews of online AP courses, see my guide to the best and worst online AP classes. If you need more general information about AP tests, check out "What Are AP Exams and Tests?" by one of our experts. Trying to decide on the best way to get college credit in high school? See our guide tocommunity college classes versus AP classes and exams. Considering other new and exciting AP offerings? Check our guide to AP Research and our guide to AP Seminar. Want to improve your SAT score by 160points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Liability analysis Essay Example | Topics and Well Written Essays - 2250 words

Liability analysis - Essay Example The basis of partnership can be made legal by either the word of mouth or through a written agreement. The partnership agreement administers the partner’s relation to each other and to the partnership. The agreement Partnerships between members of the family as in this case are viewed in a different perspective by the law. If the family members are to share in the profits it will be clear that they have a partnership, however, if they are to receive some share of the profits as repayment of debts, or wages the relation is termed as protected partnership, and there will be no legal indication that a business partnership exists. If the family members are to conduct any retail business, there will be clear evidence of an existence of a general partnership. The formation of the partnership is associated with certain rights and duties among the members and with third parties (Cheeseman, 257). Therefore, under this case, each partner will have a right to share in the profits, and al so contribute equally incase of a loss, unless the partnership agreement will have been otherwise stated. Additionally, each partner is allowed to take part equally in the supervision of the company partnership. Incase of a dispute, the majority vote rules. Nonetheless, under a partnership, each member is entailed to the duty of Good faith, and loyalty (West's Encyclopedia of American Law, 7). That is, each partner is required to account to the other partners for any benefit that one receives when engaged in the business partnership. Under the duty of loyalty, no partner is permitted to use the partnership property for ones own personal gains. Also, the partners are not to engage in any business that competes with the partnership. In reference to the contribution of funds as the parents’ idea of 2 million, the contributed resources towards the growth of the business, becomes owned by all members under partnership (West's Encyclopedia of American Law, 20). In addition, any oth er property that is to be purchased by any partner using the partnership assets automatically becomes partnership property and is held under the partnerships name as indicated by RUPA. Transfer of property is only possible under the name of the partnership and, and the partnership property cannot be sold without the consent of members of the partnership. In terms of liability, each member of the partnership is liable to the obligations of the partnership. That is, each partner is equally liable for the unlawful acts or blunder of a member-if the act is committed while the partner is acting under the authority of the other members, or on behaves of the partnership. In UPA Section 15(a) it is said that associates are jointly and severally responsible for the torts and violation of trust. (Cheeseman, 258) Under this a third party can sue one or more associates independently, â€Å"CASE 14.2 Tort Liability of General Partners Zuckerman v. Antenucci† (Cheeseman, 256). Despite the fact that a partner caught on the wrong is sued individually, the partnership agreement provides for the compensation of the partner for the fraction of damages in surplus of ones relative share of the business. Any member in the business partnership will be perceived as an agent of the partnership. That is, each member has the authority to act on behave of the business, and a members admission concerning

Company law Essay Example | Topics and Well Written Essays - 2000 words

Company law - Essay Example The committee must also make sure that remuneration arrangements strictly abide by the regulatory bodies’ requirements and meet the expectations of shareholders as well as the wider employee population (ibid). Earlier, controversial director remuneration increases in the United Kingdom were widely criticised and as a result, the UK government framed a set of regulations to control executive director remuneration. According to the Code of Best Practice suggested by the Greenbury committee, the remuneration committee must be comprised of non executive directors. The Greenbury committee also directs to completely disclose the remuneration policy as well as directors’ individual remuneration package. The UK Corporate Governance Code 2010 or simply the Code, which is a set of some good corporate principles, describes various procedures involved in setting executive director remuneration in public limited companies. Section D.1 of the UK Corporate Governance Code 2010 states that the level of remuneration should be sufficient enough to attract, motivate, and retain executive directors and thereby run the company successfully. At the same time, the level of executive remuneration must not be more than necessary. The section D.1 specifically says that â€Å"a significant proportion of executive directors’ remuneration should be structured so as to link rewards to corporate and individual performance† (The UK Corporate Governance Code, 2010). The Code continues that elements of performance-based executive remuneration must focus on the company’s long term success. In addition, the remuneration committee has to decide whether to structure their remuneration policy relative to other companies; however, the committee must consider the risk of higher levels of remuneration with no corresponding performance improvement. The committee should also consider pay and employment conditions while making decisions on annual salary increases. The Se ction D.2 deals with procedures involved in setting executive directors’ remuneration. According to this section, â€Å"there should be a formal and transparent procedure for developing policy on executive remuneration and for fixing the remuneration packages of individual directors† (The UK corporate governance code (The UK Corporate Governance Code, 2010). Referring to Main principles of the UK corporate governance code (genius methods, 2010) section D.2 clearly tells that no executive director must not be allowed to involve in setting his/her own remuneration (ibid). The remuneration committee has the obligation to confer with the chairman and/or chief executive regarding the effectiveness of the proposal framework structured on the executive director remuneration. The committee also has the responsibility to appoint consultants in order to effectively set a potential executive director remuneration policy. If there is an involvement from the part of executive direc tors of top management in advising or assisting the remuneration committee, due care must be exercised to timely identify and avoid conflicts of interest. It is the duty of the board chairman to ensure that the company effectively communicates to its shareholders regarding various aspects of the remuneration proposal. The section D.2.1 of the Code tells that there should be at least three (it can be two in case of smaller

Performance of Goldman Sachs and Financial Ratio Analysis

Performance of Goldman Sachs and Financial Ratio Analysis Conventionally the Bank performance is evaluated by analysis of the financial ratios. However, despite of quite a few number of ratios being calculated, a sculpt that completely convinces the analysis of requirements and bank operations efficiency evaluation is yet to be developed. Hence for these reason, the financial ratio analysis is balance with unlike eminence evaluations, with characteristics such as organization quality, equity structure, spirited position and others which are incorporated in the concluding assessment. In this piece of work we are going to evaluate overall performance of Goldman Sachs and critically analyse how financial ratios are used to evaluate banks performance. The Goldman Sachs Group, Inc. is a American investment banking and securities organisation which slot in global investment banking, securities, investment management, and erstwhile financial services principally with institutional clients. Goldman Sachs was founded in the year 1869 and its headquarter is at 200 West Street in the Lower Manhattan area of New York City. It has additional offices in major international financial hubs. The Goldman Sachs offers mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clientele, which include corporations, governments and individuals. The Goldman Sachs also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market (Goldman Sachs Website). Bank Internal Performance Evaluation Strategic planning Goldman Sachs ability to address and tap into important economic and financial trends through roles such as advisor, financier, market maker and asset manager are critical for fulfilling their mission to help spur growth and perform strongly as a firm. Technology Technology is a core part of GS product offering and client experience. GS ability to respond quickly and effectively to address its clients needs with customized systems, products and services helps differentiate the firm. A technological advantage for GS is that they have only one central risk system, which is partially a byproduct of not having done multiple, major acquisitions that often require merging and retrofitting platforms. Personnel development The success of the GSs efforts are measured by how effectively their people act. Over time, effective training and development have enrich their corporate culture and strengthen the values of client service and focus on reputational risk management. Recognition includes compensation, promotion, assignments and mobility opportunities. They have made it clear the link between the behaviour expected of its people and the recognition used to encourage it. This is critically important because it signals broadly the way GS expects its people to behave and conduct business (Goldman Sachs Annual report 2010). Bank External Performance Evaluation Market share GS has frequently performed above the market despite worsening economic conditions. Since the 2008, the company has outpaced the market enough to draw public admiration. With strong profits and expected strong returns, the company has set aside $500M to invest in small businesses. These efforts are a combination to both improve the economy and their public image. Regulatory compliance The Dodd-Frank legislation and new capital and liquidity requirements under Basel 3 are two of the more significant outcomes from the recent focus on enhancing financial stability. Given regulatory implementation is only just beginning, and unclear on how the new rules will ultimately impact the industry. The broad contours of new regulation, however, are clear: improve the safety and soundness of the global financial system, increase the transparency of derivatives markets, limit certain investing activities and reduce the consequences of a failure of a large financial institution. Public confidence Goldman Sachs announced in May 2010 that it formed a Business Standards Committee to reshape its business practices and mend its reputation. Chief Executive Lloyd Blankfein said at the time that there is a disconnect between how we view the firm and how the broader public perceives our roles and activities. GSs shareholders, BoDs, clients and customers have supported Mr. Blankfein through all the crisis and this shows their faith in bank (Goldman Sachs Annual report 2010). 4.0 Analyzing Bank Performance with Profit Ratios Goldman Sachs financial performance was better in 2009  than 2010 and Q4 2009 was the best quarter since the recession. 4.1 ROE Return on equity (ROE= net income after taxes/total equity) reveal GS capability to produce profits from shareholders equity (further referred as net assets or assets minus liabilities). In other words, ROE shows how effectively a company uses the shareholders money. As seen in graphical representation above, it is clear that Goldman Sachs is tendering a lower return on shareholders equity as compared to year ended in2009. The ROE of GS for the last year was 18.93% as compared to 10.08% this year. There has a been a significant decrease in the ROE which suggests GS is not utilising shareholders money properly. GS return on equity has declined substantially due to deleverage and is only marginally higher than its current cost of capital. 4.2 ROA Return on assets (ROA = net income after taxes/total assets) is how resourcefully a firm uses its assets. From the formula it is quite obvious that higher the ratio, the company is performing more efficiently and thus is generating more profits. A low ROA with enormous assets designate that the firm is handling its asset at a poor rate. As seen in graphical representation above, it is seen that Goldman Sachs has provided a lower ROA of 0.91% this year over 1.58% last year. There is one key differentiation between ROE and ROA and it is debt. In absence of debt, the shareholders equity is same as total assets of the firm which means that in this case, ROE and ROA are identical. Now if the firm come to a decision to take a loan, ROE exceeds ROA. A elevated ROE does not always guarantee a extraordinary performance of a firm. Incidentally, ROA is then a healthier pointer of the financial performance of a firm. With a high ROA and manageable debt, if ROE is also high it means that the company is generating decent profits using shareholders money. But if ROA is low and there is huge debt carried by the company, even a high ROE can only be a misleading figure. 4.3 Net Interest Margin 4.4 Leverage ratio Debt to Equity Ratio 4.5 Decomposition of ROE DuPont Analysis As revealed in Appendix B, The ROE of a bank is dependent on a various factors and thus change in any one of these factor can affect the rate of return on shareholders equity of the bank. As Net Income is the main source to calculate ROE in conjunction with the shareholders equity in the bank, every alteration in the Income and Expense of the bank openly affects the net income and thus influence the ROE of a bank. The detailed DuPont analysis of Goldman Sachs for year 2010 is presented in Appendix B. The ROE is decomposed as follows wrt dupont identity. Now assuming that changes are made in Income or Expense levels of the Goldman Sachs, its effect will be seen on ROA and ROE. Let us consider a case where the Interest Expense for Goldman Sachs goes down by 10% and there are no changes in its Interest Income, following are the effects on ROA and ROE of the bank. Scenario 1 : -5% change in interest expense Change Values after change Interest Expense -10% 6125.4 Interest Income 0% 12309 Effect on NI 6680.6 39841.6 Effect on ROA +0.07% 0.99% Effect on ROE +0.88% 11.68% A few other situations with amendment in Total Non-interest Income and expenses and their outcome on the ROA ROE of bank are given away in the chart below. Scenario 2 : -5% change in non-interest expense Change Values after change Total Non-interest Income -5% 31975.1 Effect on NI -1682.9 37478.1 Effect on ROA -0.19% 0.73% Effect on ROE -1.46% 8.62% Scenario 3 : +10% change in non-interest expense Change Values after change Total Non-interest Expenses 10% 27962 Effect on NI -2542 3160 Effect on ROA -0.31% 0.27% Effect on ROE -4.44% 3.78% Bank Performance Evaluation Based on Economic Profit 5.1 Risk-Adjusted Return on Capital (RAROC) In risk- adjusted return on capital the capital is allocated for two vital motives: (1) risk management and (2) performance evaluation. In support of risk-management rationale, the banks most favourable capital structure can be establish by allocation of capital to individual business units. This course of action entails assessing the amount of the risk (volatility) each business unit chip in to the total risk of the bank and hence to its overall capital requirements. Now, for performance-evaluation function, RAROC structure allocate capital to business units as part of a procedure for shaping the risk-adjusted rate of return and, eventually, the economic value added of each business unit. The EVA of every and each business unit is its adjusted net income minus the amount of equity capital allocated to the unit times the required return on equity. The purpose is to compute a business units input to shareholder value and so to provide a source for effective capital budgeting and incentive compensation at the business-unit level. RAROC is calculated by dividing risk-adjusted net income by the total amount of economic capital assigned which is dependent on the risk calculation. Risk-adjusted net income is calculated by taking the financial data allotment to the bank and fine-tuning the income statement for expected loss. A further modification is also required to take into account the effects on the net interest margin because the attention is moved from book profitability to economic profitability. Thus RAROC = Risk adjusted income / Allocated Capital RAROC for 2010 of Goldman Sachs therefore comes to 2.24 %. Let us consider some scenarios where the risk adjusted income for Goldman Sachs are changed by {-2%, +2%, -5% +5%}, The effect on its RAROC is represented as below. Change in Risk Adjusted Income 2 % + 2 % 5 % Effect on RAROC 2.20 % 2.29 % 2.13 % Economic Value Added (EVA) EVA (Economic Valued Added) is a present day financial dimension instrument which concludes whether a business is earning greater than its true cost of capital. EVA stands out apart from ROA ROE which are most accepted measures of bank performance. This is because it includes cost of equity capital employed. On the other hand, net banking income and the efficiency ratio, also, do not consider the cost of equity capital employed. Therefore, these ratios possibly will propose a banks performance as healthy but in fact it could be deteriorating its value to its shareholders. EVA is essentially a tool that focuses on maximizing shareholder wealth. EVA = Adjusted earnings Opportunity cost of capital {Net operating Profit after Taxes} {Cost of Equity X Equity Capital } With an aim of creating values, the return on invested capital (ROIC) for a bank must be greater than cost of capital. So, the EVA can be possibly increased in quite a few ways, by: 1) Increasing Net operating Profit after Taxes; 2) Lowering the Cost of Equity and 3) Reducing Equity Capital Conclusion Year on year Goldman Sachs revenues have descended by 11.04% from $51.67bn to $45.97bn. This along with an increase in the cost of goods sold expense has contributed to a reduction in net income from $13.39bn to $8.35bn, a 37.59% decrease. In 2010, Goldman Sachs did not generate a significant amount of cash. Cash Flow from Financing totalled $7.84bn or 17.05% of revenues. In addition the company used 6.16bn for operations while cash used for investing totalled $185m. Goldman results were also dragged down by a $465 million one-time expense to cover a U.K. payroll tax and a $550 million outlay to settle  SEC  charges that it favoured certain clients over others.

Differences in Competencies Between Associate Degree and Baccalaureate Degree Nurses Essay

Differences in Competencies Between Associate Degree and Baccalaureate Degree Nurses Nursing education can be confusing because there are so many ways to become a nurse. However, throughout history, nurse leaders have advocated the importance of higher education for nurses. But as nursing shortages developed, the need for more and more nurses became apparent. To help solve the nursing shortage problem, Mildred Montag developed the associate degree of nursing program (ADN) in 1952. It was designed to be completed in two years and provide a balance of general nursing education along with clinical courses. The original program designed by Mildred Montag was for associate degree nurses to work under the supervision of professional baccalaureate prepared nurses. Due to confusion, the graduates of the associate degree nursing program were allowed to sit for the National Council Licensure Examination (NCLEX-RN). This NCLEX exam was the same exam given to baccalaureate degree nurses (Creasia & Friberg, 2011). Now, associate degree nurses can be found in almost every setting from hospitals to long term care facilities. However, even though associate nurses have the skills to provide adequate patient care, the advanced education of the baccalaureate degree nurse provides leadership skills, advanced critical thinking skill and improved patient outcomes (Lane & Kohlenberg, 2010). Therefore, in recent years the difference in competencies between the associate degree nurse and the baccalaureate degree nurse has been examined, resulting in a push for more nurses to obtain a bachelors degree (BSN). Associate degree nursing programs teach the technical aspect of nursing care. An associate prepared nurse can function well at the bedside. She can monitor the patient’s needs and record the outcomes of treatments. An associate prepared nurse can use critical thinking skills to determine her best course of action in most situations. But the constantly changing field of healthcare is demanding higher educated nurses. It is demanding nurses that are more professional and have an understanding of theory based practice. Nursing and medical organizations across the nation are recommending that all RNs advance their education. An advanced level of education can improve patient safety and quality of care (â€Å"Fact Sheet: Creating,† 2013). This has been evidenced by numerous studies on the correlation between higher educated nurses and patient outcomes. Researchers at the University of Pennsylvania conducted a study that found surgical patients had 14% lower odds of dying as an inpatient within 30 days when being cared for by higher educated nurses. Another study conducted at the University of Toronto found hospitals that increased their pool of baccalaureate prepared nurses by just 10% had a decrease in death of discharged patients (â€Å"Fact Sheet: Creating,† 2013). To fully understand the differences in competencies between an ADN and a BSN, it may be necessary to evaluate how each would perform in a specific patient care situation. For example, a 66 year male is hospitalized with an open wound on his leg. The wound is positive for MRSA and the patient is diabetic. The associate degree nurse dresses the wound properly, and teaches the patient how to take care of the wound. She helps manage the patient’s diabetes and teaches him how to manage it at home. The patient is discharged home with instructions and prescriptions. He is re-admitted a week later with high blood sugars and a worsening leg wound. The same patient is cared for by a nurse with a BSN. During his stay the nurse dresses his wound properly, and manages his blood sugar levels. During her time with him, the nurse questions the patient about his family and his home. Through casual conversation she discovers the patient lives alone, but his daughter lives close by. She also learns he is unable to clean his home properly, but he is adamant about staying there. With the patient’s permission, the nurse contacts the patient’s daughter to learn more about the challenges the patient faces in caring for himself. After talking with the daughter, the nurse discovers the patient has not had an eye exam in 5 years and his vision is poor. He does not follow a diabetic diet and prefers to eat out rather than cook at home. Armed with this new information, the nurse talks with the patient. She tactfully points out his vision problems and poor diet choices. The patient admits he needs new glasses, but cannot afford them. He admits to having trouble seeing the numbers on his insulin syringe. He also states following a diabetic diet is too difficult so he doesn’t bother. The nurse takes this information to the hospital’s case management team and together they get home health care that will help him with his dressings. They also manage to find help to clean his home and funding to get him new glasses. The nurse then makes an appointment for the patient for diabetic teaching provided by the hospital. Prior to discharge the nurse teaches the daughter how to change the wound dressing and how to give insulin injections. She encourages the daughter to go with  the patient to diabetic education classes. The BSN nurse did more than just discharge the patient. She used the metaparadigm of nursing model to treat the patient as a whole. The metaparadigm consists of person, environment, health, nursing and how they all interact with each other. (Gunther, 2011). She recognized the patient was an individual person with individual health needs. She discovered his physical and environmental challenges and learned how they were affecting his health. Utilizing the information she obtained she found the patient the appropriate help for his situation. The associate degree nurse is certainly capable of taking care of patients in almost any healthcare setting. However, healthcare is changing rapidly with increased acuity and short lengths of stay and nursing must change with it by producing more professional, well-educated nurses. References Creasia, J. L. , & Friberg, E. E. (2011). Pathways of Nursing Education. In M. Iannuzzi, & R. Richman (Eds. ), Conceptual foundations: The bridge to professional nursing practice (5th ed. (pp. 23-26). [PageBurst]. Retrieved from www. elsevier. com Fact sheet: Creating a more highly qualified nursing workforce. (2013). Retrieved from http://www. aacn. nche. edu/media-relations/fact-sheets/nursing-workforce Gunther, M. (2011). Theories and frameworks for professional nursing practice. In M. Iannuzzi, & R. Richman (Eds. ), Conceptual foundations: The bridge to professional nursing practice (5th ed. (pp. 97-99). [PageBurst]. Retrieved from www. elsevier. com Lane, S. H. , & Kohlenberg, E. (2010). The future of baccalaureate degrees for nurses. Nursing Forum, 45(4), 218-227. doi:10. 1111/j. 1744-6198. 2010. 00194.

TOWS Matrix Analysis of Interface Inc. - 1133 Words

The TOWS Matrix has been introduced by Heinz Weihhrich in 1982 and therefore analyzes the competitive advantages of a company and lead to the development of different strategies. It is a conceptual framework for systematic analysis that facilitates matching of the external environmental factors (Threats and Opportunities) with the internal ones (Strengths and Weaknesses) of the organization. It is a two- by- two cell approach that assists companies to determine their strategies. By applying this matrix, the company can easily identify how to take advantage of the opportunities it has and at the same time minimize the impact of weaknesses and protect it against threats. The TOWS matrix is a variant of the SWOT analysis, both of these techniques require the primary identification of strengths, weaknesses, opportunities and threats. The aim of SWOT analysis is to use strengths and weaknesses to reduce threats and maximize opportunities, while TOWS compares the internal and external factors. When matching strengths with opportunities, it is clear that advantage will be taken of the external opportunities by using the internal strengths. For instance, in the case of Mercedes Benz, with the technical know-how and the quality image (strength), can take advantage of the external demand for luxury cars (opportunity) by an increasingly affluent public (Clarke, 2002). 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