60’s in America Essay examples - 870 Words

A decade of much misfortune and prosperity is the 1960’s. If you can remember anything about it, then you were not apart of it; the 1960’s an era most popular known as the sixties. The sixties, was a time of much change. People’s way of life had completely changed at the turn of the decade. It was the first decade to be radically different, then one’s before. It is the decade to set the trends of all to come. It started a large progressive movement, it created distrust throughout the country, and finally an innovative time that set the path to the technology era. The United States, during the 1960’s was a very progressive time for our country; the way people lived there life changed dramatically and has not been the same since. The†¦show more content†¦The progressiveness of the sixties paved the way to the future of the United States. Although the progression the United States had instilled, the distrust was very prominent also. The Cold W ar is a period of much tension between the United States and Soviet Russia. The Cold War itself was not a war; during it however there was. The distrust between the nations rampage as they both knew of each others nuclear bombs. Following with the distrust of the Cold War, Soviet Russia had been sending nuclear device’s to Cuba. During this grueling time the United States had there own nuclear weaponry in Turkey; for retaliation if Cuba/Soviet Russia attacks United States Land. During this difficult time it left the tension between the two nations much higher. With the distrust between the nations, there was still a lot in our own nation; with the assassination of many political and peace figures. President John F. Kennedy was assassinated November 22, 1963. A president whose goals involved creating peace and landing on the moon; were short lived after his assassination. He created the Peace Corps and his goal of landing on the moon prevailed. As for another highly known peac e icon, Martin Luther King, Jr. was assassinated April 4, 1968. His vision of peace and civil rights were also short handed. Although our civil rights have came a long way since his assassination, without his peace movement, blacks still would be more discriminated against. AShow MoreRelatedAn Accurate Assessment of the 50s and 60s in America674 Words   |  3 Pagesinaccurately assess the 1950s and 1960s. Historians, in particular, tend to describe the 1950s as a decade of prosperity and the 1960s as one of turbulence. According to most, peace and harmony defined the 50s while violence and protest conjured the 60s. This isnt true because controversy existed in the fifties, many achievements occurred in the sixties, and both decades had its political ups and downs. With all the criticism surrounding it, the 1960s remains one of the most controversial decadesRead MoreThe Effects of The Beatles Legacy1271 Words   |  5 PagesAmerica in the 50’s and early 60’s was a co nservative country having recently been involved in World War II and the Korean war, and now facing the rising tide of communism. Americans were missing that little bit of excitement in their lives and people were very inhibited. They needed an outlet to let their suppressed feelings out. Then came four lads from England that would soon shock the world, who called themselves the Beatles. The Beatles in the 1960’s positively impacted America by changing theRead MoreThe Great Melting Pot By Malcom X936 Words   |  4 Pagescountry that accepts and respects people no matter their race and origin. But in reality, America has been struggling with racism throughout it’s history. Studies show that about half of Americans believe that racism is still a big problem in our society. But despite this, racism has improved over the years. Contemporary America is a better society in terms of discrimination than it was in the 1960’s. In the 60’s racism was so severe tha t African Americans had to face racial segregation, white supremacyRead MoreThe Invention Of The 1960 S1319 Words   |  6 PagesThe 1960’s made an huge contribution to the world today. Many significant innovations were made around the world at this time. Also, many downfalls happened for lots of countries around the world. The 1960s are known for the assassins of many important persons from different countries. All in all, from the inventions of Etch-a-sketches to the first moon landing, the 1960’s changed the lives of people worldwide. The culture before the 1960’s of course had a big impact on how people acted in theRead MoreThe 1950s : A Decade Of Prosperity, Conformity, And Consensus1470 Words   |  6 PagesKylie Suitum Hist 406 Final Paper 12/11/15 Historians tend to portray the 1950’s as a decade of prosperity, conformity, and consensus, and the 1960’s as a decade of turbulence, protest, and disillusionment. Do you agree or disagree with this view? Show evidence to support your argument. With the overwhelming amount of Levittown houses, the obsession to obtain the perfect American â€Å"ideal family† as seen on TV and the unspoken agreement to fear any and all foreign ideas and values, the 1950s wereRead MoreThe Great Depression1133 Words   |  5 Pagesimmigrants came into New York, the Puerto Ricans. For some the American dream was to come to America and start a new life, but for others already here, it was about making it big in show business. â€Å"West Side Story†, a twentieth century musical, was greatly influenced by the immigration during that time. Before West Side Story was written, there were some major events that occurred. For instance, in 1914 America entered WWI. Then in 1920, women were given the right to vote and women’s suffrage wasRead MoreThe Womens Liberation Movement1026 Words   |  4 PagesStates throughout the 60’s and 70’s carrying on to the 90’s. Without the Women’s Liberation Movement women wouldn’t have received changes in laws primarily regarding employment impacting on them moving forward in terms of equal opportunities. However there is still a there is still process to be made concerning employment and social roles for women to have equal rights as men. The Women’s Liberation Movement started in the 60’s during the second wave of feminism. Even though the 70’s were a time of changeRead MoreEasy Rider: a Pursuit of American Identity1359 Words   |  6 Pagesidentity in America, in the midst of paranoia, bigotry and violence. The story, of filmmakers Fonda/Hopper creation, centers around the self-styled, counter-cultured, neo-frontiersmen of the painfully fashionable late 60s. As for the meaning of Easy rider, Peter Fonda (Wyatt) said in an interview with Rolling Stone magazine,  ¡Ã‚ §it is a southern term for a whore ¡Ã‚ ¦s old man, not a pimp, but a dude who lives with a chick. Because he ¡Ã‚ ¦s got the easy ride. Well, that ¡Ã‚ ¦s what ¡Ã‚ ¦s happened to America, man. Liberty ¡Ã‚ ¦sRead MoreThe Help Analysis Paper1352 Words   |  6 Pagestakes place during the 1960’s in Jackson, Mississippi. This novel tells a story about the relationships between African-American maids and their white employers. During the 1960’s, not only in Mississippi but the greater part of the south, African-American women were the nannies and maids to white families for generations and dealt with racism in order to earn an income for their own families. The Help not only touches on a racist time era but a sexist one as well. In The 60’s women were to be mothersRead MoreThe Influene of World War II on the Social Norm and Art Movements of America1779 Words   |  7 Pagescontrast in two adjacent decades in history, many historians have come to conclusion that the fifties were a time of conformity, and collectedness, as well and prosperity due to the great economic output of the time. And the contrasting period of the 60’s lives up tot the nick name of the â€Å"stormy sixties† a name representative of the culture and over all attitude toward life the American dream at the time. A cloudy confusion of what was wanted and needed to be done, just a roller coaster of a decade

Essay on The Benefits of Our Government - 5348 Words

The Benefits of Our Government The monstrous nature of government is evident to the everyday citizen. It is monstrous to oppress the poor and minorities and it is certainly monstrous to declare war on another country and inflict pain and suffering on its people. Yet it is also obvious to the every day citizen that government is necessary to preserve order. Without law or law enforcement, criminals would roam the streets and wreak havoc. Without a military, other countries would invade us violently. Thus, government is a monstrous institution that preserves order in a potentially horrific manner. Government has a tendency to become monstrous in two ways. One is that it needs to maintain order within the country, which often†¦show more content†¦Therefore, citizens must come to the understanding that in order to prevent government from becoming too monstrous, it is the monstrous nature of the individual that must be sacrificed. The more people sacrifice their own desires for the benefit of others, the more the positive effects of a necessarily monstrous government outweigh the negative effects. The idea that monsters are chaotic yet necessary for order is revealed quite consistently in a wide variety of myths. Chaos monsters or chaos is necessary for God or the gods to create an orderly world. Thus, chaos monsters are ironically essential to order. Chaos and order go hand and hand. Without chaos, there could be no order. To preserve order, there must be something to monstrously combat chaos. That something is government. Thus, the idea behind government, the preservation of order, only works if it becomes a monstrous institution that uses chaos to fight chaos. Of course, the problem is that it is hard to tell the difference between government’s need to use chaos as defense and government’s use of chaos for the benefit of the government’s potentially monstrous desires. The monsters of myths symbolically reveal the monstrous nature of government. For example, an analysis of the characters in the ancient Babylonian myth Enuma elish reveals that they resemble monstrous leaders. The story explains theShow MoreRelatedPersuasive Essay873 Words   |  4 Pageslaw has on society. The federal government needs to give same sex couples the same health benefits that heterosexual couples receive. Currently, the government offers employees benefits such as health insurance and retirement savings, but they extend only to heterosexual couples. This means that same sex couples are not receiving the same amount of money as heterosexual couples. 57% of the fortune 500 companies, on the other hand, offer the same health benefits for same sex and heterosexual couplesRead MoreHow Can We Make Our Economy And Fund Our Tourism?1297 Words   |  6 Pages How can we make our economy and fund our tourism? To the citizens of Utah County, the local Government is one of the keys to tourism development. I think there should be a law enacted stating that the local government needs to fund tourism as well as keep it in good condition. Allow me to illustrate this point by showing the role s local government plays within the community, and the importance it has in creating a success fully developed tourism product. A successful tourism product should maximizeRead MoreThe Authoritative Allocation Of Values940 Words   |  4 PagesAccording to David Easton the definition of government is, â€Å"the authoritative allocation of values.† As discussed during our class you can define this down even further. Authoritative can be defined as something that is trusted and is widely accepted by the majority such as â€Å"first come first serve.† Allocation can be defined as deciding who gets what, basically the distribution of a law or product, it also helps with resolving conflict. 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Financial Analysis of the G4S Company Free Essays

Executive summary: The G4S Company is the largest security services provider in the United Kingdom that specialises in all aspects of security, including the deployment of security officers, monitoring, crisis management, planning and training, and security advice. It is part of Group 4 Securicor PLC and was established from the merger between Securicor and Group 4 Flack’s security businesses. The company provides specialist security services to more than 5,000 customers across a range of sectors, including commercial services, events, facilities management, industrial, financial and professional services, public sector, retail and transport. We will write a custom essay sample on Financial Analysis of the G4S Company or any similar topic only for you Order Now It also manages the security for 41 companies in the FTSE 100 and provides real solutions to customers, including Woolwich Building Society, IBM, Virgin Atlantic, and Bridgnorth Aluminium.The company is a member of British Security Industry Association (BSIA), Security Industry Authority, National Security Inspectorate (NSI), SITO, IATA, AOA, Fire Protection Association (FPA), Confederation of British Industry (CBI), British Quality Foundation, and European Aviation Security Association. G4S plc collectively with its subsidiaries and joint venture companies primarily supplies range of business services that encompass secure solution and cash solutions to both government agencies and commercial businesses. Though first joined the stock market in 2004, G4S plc currently floats in the London Stock Exchange as one of the top 100 companies listed in the London Stock Exchange in 2007†¦ (G4S Company) Financial adaptability: G4S has strong operating activities; this is due to significantly increase in cash inflow generated from operating activities, from ?373m in 2008 to ? 509m in 2009. The firm has also invested heavily on financing investment; consequently this has had a negative effect on the cash and cash equivalent, this may have contributed to the fall in the cash equivalent from ?56m to ?38m. The firms have decided to spend less on investing activities; consequently the net cash inflow from investing activities has fallen down significantly from ?504m in 2007 to ?184m in 2009. Therefore since the firm can generate revenue from operating activities, this will enable the firm to adapt to any new business venture. PROFITABILITY RATIOS: Return on capital employed (ROCE) 2007 20082009 8.83 %6.81 %8.22% G4S ROCE is with the median range compare to other firm in the same sector. The ROCE slightly fell in 2008 from 8.83% to 6.81%. This was due to increase in capital employed from ?2148.3 million in 2007 to ?3402.6 million in 2008. Also contributing to the fall was the increase in profit before interest and tax from ?217m to ?264m However G4S ROCE slightly increased in 2009 to 8.22%. This was due to the fall of fixed asset from ?3402.6 million in 2008 to ?3316.5 million in 2009. This may contributed to the increase in ROCE. Furthermore PBIT has increased from ?264m to ?303m. Gross profit margin: 200720082009 22.38%92.99 %21.91% G4S gross profit margin plummeted in 2008 from 22.38% to 92.99%. This was due mainly to the increase of gross profit from ? 1,005 m to ? 5,527m, compare to the slightly increase in revenue from ? 4,490.4m to 5,942.9m. This indicates the firm is relatively depended on cost of sales to generate profits. However G4S gross profit margin fell significantly in 2009 from 92.99% to 21.91%. This was due to the fall of gross profit from ? 5,527m in 2008 to ? 1,536m in 2009. Even though revenue increased from ? 5,943m to 7,009m in 2009, this did not affect the fall in the gross profit margin. Since the firm is operating exceptionally in relation to generating profit through gross profit activities. This indicates the firm is profitable since it can generate profit from its own activities. Net profit margin: 200720082009 4.83 %4.45 %4.32 % G4S net profit margin has fallen in the last three years.G4S net profit margin slightly reduced in 2008 from 4.83% to 4.45% this was due to the increase in profit before tax the company had to pay compare to previous year. G4S paid interest in 2008 of ? 264m compare to 2007 of ? 217m. Also the revenue significantly increases in 2008 from ? 4,490m to ? 5,943m. The ratio fell again in 2009, once again contributing to the fall in net profit margin was due to increase in tax and interest G4S had to pay from ?264m to ?303m. The fall in the ratio may be due to the fall in cost of sales, since, despite the significant increase in revenue from ?5,943m to ? 7,009m, this did not affect the fall in the ratio. This indicates the firm is profitable since the revenue has increased in the last 3 years. Short term liquidity ratios: Current ratio: 200720082009 1.251.281.25 G4S current ratios were lower in 2007 compare to 2008, this indicates the firm have financial problem in the short term. However G4S current ratio has slightly increased in 2008 from 1.25 to 1.28, this was due to increase in current assets from ? 1,528m to ? 2,174m, and current liabilities increased from ? 1,220m to ? 1,694m. Since current asset are higher than current liabilities, this implies the firm has no financial difficulties in the short time. However the ratio fell in 2009 from 1.28% to 1.24% this was due to decrease in current assets from ? 2,174 m to ? 1,847m; this was mainly due to fall in bank and deposits from ?562m to ?308m. Also the current liabilities fell down from ? 1,694m to 1,482m. This was mainly due to reduce of bank overdraft from ?283m to ?183m. Acid test ratio: 200720082009 1.191.231.21 G4S acid test slightly increased in 2008 from 1.19 to 1.23, this was due to the increase of inventory from ?57.1m to ?85.5m. The actuality that the differences between the current and acid test ratios is not too high this indicates that G4S stocks are not that high. The stocks are worth around ?85.5m; but since current assets are ? 1527.5, that’s not a huge level of stock holdings. Also the increase in current asses and current liabilities contributed to the increase in current ratio. However the ratio fell down in 2009 from 1.23 to 1.21, this was due to descend of inventory the firm holds from ?85.5m to ? 77.8 m. also contributing to the fall was the reduction of current assets from ? 2,174 m to ? 1,847m. Additional this indicates that G4S has good financial situation that it had before. Operating efficiency ratios: Inventory turnover period: 200720082009 78.6469.5190.08 G4S inventory turnover ratio has fallen in 2008 by 9 days. This indicates efficient management of inventory because the inventories are frequently sold. Moreover, revenue significantly increases in 2008 from ? 4,490m to ? 5,943m. Furthermore this indicates the firm requires high level on inventory in order to operate the business. Since the inventory has increased from ?57m to ?86m. The ratio increased significantly in 2009 by 20 days. This was due to the high increase of revenue from ? 5,943 m to ? 7,009m, also the inventory fell down from ?86m to ?78m, and this was due to reduction on holding stock from ?23m to ?16m. Trade receivables collection period: 200720082009 627259 In 2009, the trade receivable increased from 62 days to 75 days. This was mainly due to significant increase in trade debtors from ? 763 m to ?1,171m. This may indicate the firm policy is to allow more credit in order to generate more sales. This contributed in fall in cost of sales from ? 3,485m to ?416 m. However G4S trade receivable collection fell down in the year 2009 from 72 days to 59 days this shows the firm policy of efficient management to reduce debt. The increase could be due to slightly increase in trade debtor collection from ? 1,171 m to ?1,127 m Trade payables payment period: G4S trade payable payment period fallen down in 2008 from 11 days to 12 days, this was due to the increase in payment period form ?137.m to ?197m this resulted in the increase of 1 day payment period. This indicates the firm policy is to collect the creditors too quickly. Since the firm revenue increased in 2008 from ? 4,490m to ? 5,943m, the firm should allow more time for collection from creditors.Trade payables payment period: However in 2009 the firm reduced the trade payables payment period from 12 to 10 days, this resulted in reducing the payment to creditors from ?197m to ?192 m. is clear that G4S has efficient control of its creditors. Although G4S may miss out on extra cash discounts from the creditors for paying late. Although the revenue increased from ? 5,943m to 7,009m, this did not affect the ratio to fall down. Capital structure ratios: Gearing ratio: 200720082009 144.98%193.48%176.43% G4S gearing ratio has a higher gearing ratio compare to other industry. The gearing ratio dramatically increases in 2008 from 133.98% to 193.48%. This was due to significant increase in long term loan from ? 1,369m to ? 2.455m, which affected the increase in creditors in order to finance the business. However the ratio fell down in 2009 to 176.43%, this was due to reduction in long term borrowing, also contributed in fall of gearing was due to reduction in current liabilities from ? 1,694m to ? 1,482m. This indicate the firm is too dependent on borrowing in order to finance the business, since the firm has high gearing ratio, therefore the firm could enter liquidation if they don’t solve its debts. Interest Cover Ratio: 200720082009 2.482.402.54 In 2008 the interest cover was slightly reduced from 2.48 to 2.40, this was due to a dramatic increase in interest charge from ? 217 m to ?264 m. However the interest cover ratio reduced slightly in 2009 from 2.40 to 2.54, this was due to the increase in PBIT from ?264m to ?303 m, which the business incurred. However the interest cover slightly increased from 2.40 to 2.54, this was due to profit before interest slightly increased from ? 454m to ?499m. G4S has a low interest cover which may not be enough to pay off its interest in difficult economical times and could consequence face bankruptcy. Solvency Ratio: 200720082009 29.57%25.59%27.24% G4S solvency ratio reduced in 2008 from 29.75% to 25.59%. This was due to increase in total asset from 3,676m to 5,577m. Also the increase of share holders’ funds from ?1,087m to ?1,427m contributed to fall in the ratio. This indicates the firm is too dependent on borrowing in order to finance their business. However the ratio fell down in 2009 to 27.24%, this was due to slightly fall in total assets from ? 5,577m to ? 5,164m; this was due to reduction of current assets from ?2,174m to ?1,847m and also the fall in shareholders’ funds, from ?1,427m to ?1,407m, may have contributed to increase in solvency ratio. This indicates the firm is solvent, since it has higher total assets compare to total liabilities. Fair value accounting: â€Å"Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm’s length transaction†. (IAS 39) Starting out from the idea that the best estimation of the fair value is the market price of the asset or liability in quires, and attitude in mind that this price does not exist for all items, or if it does exist it may not always be reliable, it is essential to lay down some ordered procedure that institution can follow when making their estimates. Based on IAS 39. The continuation of published prices in a dynamic market is the best indication of fair value and when it exists, should be used to value the financial asset or liability. A financial instrument is deemed to be quoted on an dynamic market if the listed prices are regularly and easily available If the market for a financial instrument is not active, the financial institutions should find out the fair value using a valuation technique inc orporate all the factors that participant in the market would consider when establish the price and which is familiar with accepted economic way used to set the prices of financial instruments. In a perfect market, fair value equals practical market price. If there is no active market, fair value is an estimate of value in use. The IASB differentiates between three levels for estimating fair values: Using quoted prices for identical assets or liabilities in active markets whenever that information is available (market values); If quoted prices are not available for similar assets or liabilities, fair value should be approximated using quoted prices of similar assets or liabilities with market equivalents. If quoted prices of identical or similar assets or liabilities are not available or not objectively determinable, fair value should be estimated using valuation methods based on present value techniques of future earnings, or cash flows and valuation techniques. Fair value of an asset usually is based on the judgment of future cash flows of the entity, which means that the same asset can be measured differently for two companies because of different borrowing rates and managerial appraisals. Thus, the reliability of fair value estimates declines with the shift from liquid markets to non-traded items. Botosan et al. (2005) provided a concise summary of the extant academic literature on The relevance and reliability of fair value estimates in financial statements. They suggest (Citing Barth, 1994, Petroni Wahlen, 1995, and Nelson, 1996, amongst others, in Support) that: â€Å"The evidence generally shows that fair values obtained from actively traded markets are more reliably associated with share prices than those derived from thinly traded markets or internal estimation models .Supporters of fair value accounting argue that, the fair value accounting measurement is relevant than the historical cost accounting as it provides up to date information in line with market and it takes in to account to economic adjustments to the acquired cost. Many accounting academics’ argue that the fair value method shows the economic realities that are avoided by the historical cost accounting†. Calculating fair value of an asset or liability Equity approach Mixed approached Income approach Full fair value approach Equity approach: All unrealized fair value changes are admitted in a revaluation reserve when transaction is realized. According to IAS 116 realized holding gains do not affect the income statement. Mixed approach: Changes on unrealized fair values are transferred into revaluation reserve however; changes on realized fair values are reflected in income statement instead of equity according to IAS 39. Income Approach: Gains or losses resulting from changes in fair values are usually reflected in the income statement. Full fair values: Changes made in every fair value are recorded in the income statement including internally generated goodwill. Self produced goodwill is the difference between the equity values of the firm and book value of the firm. Argument for fair value Accounting: Supporters of the market value accounting argue that the fair value accounting measurement is relevant than historical cost accounting as provides as up to date information constant which market with market and it takes in to account economic adjustment to the acquired cost. Many accounting academics argue that is method shows the economics reality that is avoided by historical cost accounting. Valuing all financial instruments by their fair value will allow stakeholders of the financial statements to gain a fair and true view of the company’s true financial conditions as only fair value shows the economic situation and the changes in them. However, historical cost-based accounting indicates the conditions that happened when the transaction took place and any possible changes in the price do not appear until the asset is realized. Although, the well-known application of fair value offers a more as good as and consistent valuation Framework, as financial instruments are valued at the same time and according to the same standard. The Traditional model, on the other hand, does not allow comparisons easily made. Companies similarly financial instruments, with the same cash flows and risks, can show different values on their Financial statements according to the moment in time when they purchased the Justification of the full fair value model is draws upon the criticism that may be leveled against the mixed valuation model, where some instruments are recorded at historical cost and others according To their fair value. In the mixed model the criterion for valuing an instrument at its cost or market value Do not depend on the character of the instrument but on whether the companies intends to hold it Long term or trade it; this is strictly related to the difference between the instruments to old banking activity and the asset trading portfolio. Thus, if the mixed model is applied, similar instruments may be valued differently and have a Different result on the financial position and the income statement. Moreover, the difference between, the credit portfolio and the trading portfolio may vary from one company to the next, and therefore Make it difficult to compare financial statements. Lastly, the mixed model creates advantages for a degree of accounting principles that, The categ orization rules might be interpreted so as to categories assets and liabilities so that it is possible to apply the most advantageous valuation criterion, in detriment to the quality of the information And, in short, the ability of financial statements to show the economic reality of the company Reliably and objectively, Fair Value Accounting Advantages: Market value measurement is more important to stake holders are it reflects market price of the asset and the liabilities It provides more transparency for the users if all financial instruments can be measured at fair value stake holders can achieve grade advantages (Jackson 2000) Reliability of fair value accounting Financial information’s must be reliable when it must show faithful economic reality of the transactions, regardless of its legal form, as well as being prudent, free and complete from errors. For this reason fair value should not be applied to all financial instruments as it is not possible to get reliable values for some as important as loans and deposits acquired, as there are no active markets for most of them, nor are there adequate valuation techniques allowing them to be estimated reliably. Comparability of financial information: Stakeholders of the financial information should able to investigate a company’s financial statements timely basis and compare them with similar industry to analyses the company’s financial position, Changes in its financial position and performance in similar terms. Familiar situations and events must therefore be treated in a similar way. Whereas the mixed model may head to conditions in which similar instruments are given different Valuations because they were bought at different times, the results obtainable by this method are parallel and similarity comparable with one another. However, applying fair value would, in many cases, involve a degree of bias in the preparation of these financial statements which would make assessment more difficult. Given that companies may use different models with considerably different assumption to find out the fair value of different financial instruments, both the fair Value and the implication for the income statements of differen t companies could be very difficult to compare. Although, users of financial information are familiarized to the mixed model and understand it Perfectly well, having developed technique that use the historical cost information to assess the Company’s situation and estimate future cash flows. Argument against fait value accounting: There are wildly held views on fair value accounting that the suitability of applying the criteria of fair value to instruments held in asset management. However, this method is vigorously rejects for the valuation of the non current asset and financial liabilities. In order to be useful as the basis for rational economic decision-making, financial information must be reliable, comparable and relevant. The criticism mainly on these features and the force obtaining the advantages of the fair value process would have constancy of the system as a whole Fair Value Accounting Disadvantages: Fair values and invaluable it is subjective of managers and directors and agency theory indicates that managers and directors usually keep their advantages of un very volubility to the manage financial report ( Ramanna Watts 2007) when fair value on asset liability is not available fair value is measured based estimated by using best available information and technique available in the circumstances however most oven difficult occur when choosing estimated of fair value by using in appropriate models. E.g Cash in hand or using assumptions that is not reflect the risk of asset (Jackson 2000) References http://www.cemla.org/pdf/acp/dp-0607-bde-eng.pdf. accessesed 5th of may 2011, time. 23:43 Melville, A international financial reporting practical guide. ACCA global reviews Fame G4S financial analysises. How to cite Financial Analysis of the G4S Company, Essay examples

Atomic Bomb Essay Conclusion Example For Students

Atomic Bomb Essay Conclusion The atomic bomb ended a war of massive death and destruction, but began what is now known as the Atomic Age. At the time of the disasters in Hiroshima and Nagasaki, the bomb appeared as a promise of peace to the entire world. It had ended a costly and gruesome war, beginning a time of peace. Compared to the technology of 1945, the atomic bomb looked too powerful and unethical ever to be used again. It was seen as the weapon that would put an end to war. In Keith Eubanks The Bomb, he shows the development of power and the increasing threat to the United States from other nations that might be building a weapon of mass destruction; moreover, he shows the responsibility of dropping such a bomb. The development of the atomic bomb, although slow at first, quickly sped up as more research proved it a significant weapon. At the beginning, the U.S. didnt think developing a weapon could contribute to defense. Consequently, after quick research from scientists and the realization that the war would be a technical one in which the U.S. was unprepared, Americans came to the conclusion that better relations had to be created between science, technology and the American government (p. 8). The government soon realized that the bomb was likely to have a decisive result in the war. Roosevelt immediately gave orders to determine if a bomb was possible. When he found out the news, the national defense demanded urgent development and more research. The United States undertook the development of the atomic bomb not only because it may prove useful, but also because it thought other scientists were doing the same. After testing the bomb, the U.S. realized the significant role the weapon would play in the war. In addition, President Truman learned that the bomb might well put (the U.S.) in a position to dictate our own terms at the end of the war (p. 49). Truman, to the opposition of some, decided that the Japanese would receive no warning about the bomb. Many would argue Japan was largely responsible for their own destruction. After the attack on Pearl Harbor, the war in the Pacific was fully underway. An aggressive expansion policy forced the United States invasion. However, this invasion would mean severe casualties of tens of thousands of U.S. soldiers alone. After American casualties reached into the thousands in Japan, the U.S. could not afford to lose more lives. It seemed as if the only solution to save American lives and stop further Japanese expansion was to drop an atomic bomb. After the Big Three conference at Potsdam on July 16, 1945, a warning was issued to Japan in the form of the Potsdam Declaration: to surrender unconditionally or face prompt and utter d estruction. An unconditional surrender, to Japan, meant humiliation to the ancient warrior tradition and the Emperor. Therefore, on July 29, 1945, the Japanese rejected the Potsdam Declaration and every man, woman, and child prepared to fight to death if that is what it would take and it did. They saw the declaration as propaganda, which would play on the public opinion of Americans. They soon learned that action would be taken. They wanted to wait until the Soviet Union mediated in the conflict, so Japan told its people to ignore the declaration. However, when the Soviet Union joined the Allies, Japan knew it was in trouble. Only a change in the weather could save the lives of Japanese now. On August 6, 1945, the atomic bomb was dropped on Hiroshima, and a few days later one was dropped on Nagasaki. Nevertheless, the time has come when we must bear the unbearable (p. 87): A quote that sums up not only Japans feelings but Americans feelings as well. It was the only way the United States knew how to end a war that had killed many of its own men. .uef130e4762fea3cbc0d1e6068c2ba57b , .uef130e4762fea3cbc0d1e6068c2ba57b .postImageUrl , .uef130e4762fea3cbc0d1e6068c2ba57b .centered-text-area { min-height: 80px; position: relative; } .uef130e4762fea3cbc0d1e6068c2ba57b , .uef130e4762fea3cbc0d1e6068c2ba57b:hover , .uef130e4762fea3cbc0d1e6068c2ba57b:visited , .uef130e4762fea3cbc0d1e6068c2ba57b:active { border:0!important; } .uef130e4762fea3cbc0d1e6068c2ba57b .clearfix:after { content: ""; display: table; clear: both; } .uef130e4762fea3cbc0d1e6068c2ba57b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uef130e4762fea3cbc0d1e6068c2ba57b:active , .uef130e4762fea3cbc0d1e6068c2ba57b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uef130e4762fea3cbc0d1e6068c2ba57b .centered-text-area { width: 100%; position: relative ; } .uef130e4762fea3cbc0d1e6068c2ba57b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uef130e4762fea3cbc0d1e6068c2ba57b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uef130e4762fea3cbc0d1e6068c2ba57b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uef130e4762fea3cbc0d1e6068c2ba57b:hover .ctaButton { background-color: #34495E!important; } .uef130e4762fea3cbc0d1e6068c2ba57b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uef130e4762fea3cbc0d1e6068c2ba57b .uef130e4762fea3cbc0d1e6068c2ba57b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uef130e4762fea3cbc0d1e6068c2ba57b:after { content: ""; display: block; clear: both; } READ: Civil War Reconstruction EssayIndeed, Eubanks exemplifies that Germany had already begun research on atomic energy. The Manhattan Project, which built plants for production of the atomic bomb, helped to set up a centralized lab to get everyone working on the bomb together. This step was vital for the U.S. in constructing this weapon. German scientists had begun research on nuclear physics around the same time as Americans. German scientists, unlike Americans however, lacked leadership, drive, listening skills and trust. In fact, Hitler thought of nuclear research as Jewish physics. Furthermore, Hitler didnt want to use funds on something that he had not had to use. Convent ional weapons had worked just fine for the German army up to this point. But when Germans learned of the importance of uranium and heavy water, they started massive production of the water and had it delivered to them. When British intelligence found out about the production of the heavy water, they destroyed the plant. This loss of heavy water played a major role in wrecking Germans hopes for the atomic bomb. Officers of Alsos (the allied effort to find out about German atomic bomb developments) found out later that German research activities had not gotten much beyond the research and development stage. Given the necessary time and resources, however, the Germans wouldve probably succeeded (p. 45). Nevertheless, Eubanks illustrates that the Soviet Union got much further than the research and development of Germany. Like Germany, Russians didnt want to spare the funds at the beginning for massive development and research of atomic energy. The Soviet Union development of the atomic bomb was small in comparison with the United States, but after learning of tests and the dropping of the bombs on Japan, the Russians changed their policy. They could not stand back and let the U.S. take over the world as they saw it. Joseph Stalin knew of the atomic bomb through secret operations, but he didnt realize the importance of the weapon until it was used. By dropping the bombs, the U.S. demonstrated not only the possession of atomic weapons, but also the willingness to use them. Moreover, the weapon shocked Soviet leaders because it reduced the value of the Soviet victory over Nazi Germany (p. 110). Therefore, Stalin ordered a crash program to develop the weapon as quickly as possible to show that the United States was not superior to the world. Stalin realized that the atomic bomb had become the symbol of technological strength as a superpower. In fact, between 1949 and 1953, the Soviet Union had tested four atomic weapons, launching and intensifying what was known as th e Cold War. As the atomic bomb ended war, it began a new age, creating new philosophies on human existence, technology and society. Socially, the grief from the destruction of the atomic bomb was immeasurable- it expanded outside the borders of Japan to the hearts of the entire world. Not only did grief exist, but the atomic bomb also laid guilt on some citizens of the United States for the destruction of so many lives. At the time of the war, Americans hatred of the Japanese was so strong that they wanted to see the bomb dropped. In fact, they wouldve liked to see more bombs dropped to prove that the United States would not give up. In retrospect, the bombs today are criticized by some as being an unfair loss of life to the Japanese.The atomic bomb, however, wouldve eventually been used by another country if they had the technology. Overall, the United States had the money, power and weaponry to undertake such a project. Regardless, the atomic bomb may have killed thousands, but it saved millio ns. Today, we face similar problems with the situation in Iraq and Saddam Husseins lack of cooperation with arms inspectors. If hes holding nuclear or thermonuclear weapons, it can only be hoped that we are ready for another war.The atomic bomb forever changed the rules of war. It is a weapon so powerful it can annihilate the enemy, a weapon that can destroy humanity itself. The people who built this weapon hoped that they had invented a weapon that would put an end to war. They hoped this new weapon was so awful, so terrifying and so destructive that it would never be used again. We may soon see if that is true. Bibliography:Reference:Dick Geary. Hitler and Nazism. London: Routledge, 1993.

The Fruit of Wisdom free essay sample

A discussion of Shih Ching or the Book of Odes/ Book of Songs which is one of the most famous collections of ancient Chinese poetry. This is an analysis of two poems found in the Book of Odes and the inspiration of nature on the author. This paper compares common themes running throughout the entire book by looking at two inspiration poems. Despite the fact that the style of poetry faded away about as quickly as it was born, much of its value and meaning have lived on to the present day. The Book of Odes is after all the earliest work of Chinese poetry ever discovered and it represents all we know of early Chinese poetry in a culture where the oldest is often thought to be the best. Poetry, throughout history, has been one of the most admired artistic forms of inner expression and has inspired readers to search for personal meaning and value within the context of the most beautiful words written by man. We will write a custom essay sample on The Fruit of Wisdom or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is impossible to fully understand ancient Chinese history without studying its contribution to the art of poetry. Chinese poets are known for their brilliance and Chinese poetry for its unique style, inner meaning and its ability to educate and inspire readers throughout the centuries. One of the most noteworthy pieces of literature is the Shih ching or the Book of Odes, also referred to as the Book of Songs. This collection of approximately 300 poems from the Chou dynasty is a Confucian classic and was traditionally compiled by Confucius himself. Confucius used these 305 poems in order to teach his disciples about the meaning they should be drawing from poetry. Two poems, one about a peach tree, and the other about a pear tree, are just a miniscule fragment of the entire Book of Odes, yet they reveal an ocean of meaning and provide an amazing preview into one of the most incredible volumes in Chinese history.

Extremely Loud and Incredibly Close Essay Essays

Extremely Loud and Incredibly Close Essay Essays Extremely Loud and Incredibly Close Essay Paper Extremely Loud and Incredibly Close Essay Paper Highly Loud and Incredibly Close encourages us to closely analyze the clip we have in our lives. We neer know when the last clip we will be seeing person will be. we must be responsible with how we spend our clip and we are responsible for the manner we treat people. The message that is conveyed to me an copiousness of times is to non take advantage of the clip you have. because it ?ies. This is represented on the pages with ruddy ink ( pages 208-216 ) . The commas are circled as if they are a error. Commas represent a intermission in the sentence. and with most of them circled it infers that clip moves really rapidly. The ruddy pen pages. besides represent looking closely at something. The circled ruddy pen means that there is an mistake at that place and we must look closely to ?x it. Therefore the writer wants us to closely look at the manner we distribute clip in our lives. 3 ) The alone narrative manner in Extremely Loud and Incredibly Close is chosen to further turn out certain subjects throughout the book. One manner that this book is alone is the fact that it is ?lled with symbolic pages. The space pages are a really strong manner to show the subjects in the novel. These pages exhaustively express points that Foer is seeking to do throughout the novel. Page 121 is an illustration of a clean page. conveying the changeless subject of emptiness. The clean pages represents Oskar’s grandmas head. She does non desire to believe about anything. she is enduring from loss and emptiness interior. The exposure scattered throughout the book of doorknobs conveys another large message in the book. This message is one door closes. another door opens. Even though the supporter is faced with a loss and is looking for closing. finally he obtains the closing by run intoing many new people to ?ll the empty infinite within him by literally opening new doors. This narrative manner creates a more interesting thought arousing reading experience and that is why I believe Foer has chosen to include these symbolic pages. 4 ) Oskar. his grandma. and the tenant all have loss in common. They all have a feeling of emptiness inside them. Oskar’s father â€Å"died the most atrocious decease that anyone could of all time invent† ( 201 ) . Grandmother and the tenant have both lost a boy. and Anna. Grandmother’s husband â€Å"the following forenoon he went to the airport† ( 185. ) He had left her. she had lost him. Besides the common loss that they portion. they all have issues affecting thought. The tenant and Oskar have the job of overthinking everything in their lives. The overladen pages. like page 282 express the tenants ideas overcasting up his caput. The tenant used thought as a reminder to allow him cognize he was alive during the bombardments of Dresden. He merely would believe and believe to cognize that he was alive. his encephalon was overloaded. Oskar is similar with the fact that he could neer halt his ideas. Oskar expresses that â€Å"all [ he ] wanted was to fall asleep at dark but all [ he ] could make was invent† ( 258 ) . Oskar invents many different things. like â€Å"a teakettle that reads in Dad’s voice† ( 1 ) and many other things that merely maintain traveling through his head. . Grandmother differed from them in idea. Grandmother would seek non to believe. She would compose clean pages so that she did non hold to believe about a individual thing like everything that has gone bad in her life. Although Grandmother relates to believing in the opposite manner. she still has thought in common with them.

'Australian banks have remained very sound by international Research Paper

'Australian banks have remained very sound by international standards,despite the global financial turmoil' observed the IMF, and impact on Australian Bank - Research Paper Example It is apparent that if a residential mortgage shock is joined with corporate losses, it will definitely harm banks. Local reports on Australian banks performance indicated that a stress test is based on a worse case scenario that would categorize other banks in the world in the same position (IMF 2010). In fact, it is argued that although such observations from the IMF stand to be correct, Australian banks were believed to obtain considerable aid from taxpayers and the Reserve Bank. Besides, it is argued that Australian federal government helps banks in events of crisis. Overall, reports have indicated that the Australian banking system was resilient during global financial crisis due to intensive supervision and regulation. Although, the four major Australian banks capital ratios are place below global average for large banks, their conservative approaches in implementing Base II framework indicates that their headline capital rations underestimate their capital strength. The major financial soundness indicators that these banks concentrated on include profitability, capital adequacy, asset quality and provisioning, and liquidity. On particular, the Australian banks’ loss given default rates are arguably higher than those of several other countries. Additionally, higher risk weights were endorsed for certain residential mortgages. Moreover, reduced risk weights, which are allowed in the Basel II framework’s standardized approach, were introduced for retail lending (IMF 2010). Nevertheless, the risk weighted assets numbers can not be comparable across nations. All in all, due to APRA’s conservative eligibility and deduction rules, Australian banks have a propensity of holding higher quality capital. According to RBA, in regard to Basel III requirements, banks will need to hold more and higher quality capital. In light with this, the Australian banks can be argued

Tribal customs of the Ibo (Igbo) people Essay Example | Topics and Well Written Essays - 1000 words

Tribal customs of the Ibo (Igbo) people - Essay Example He eventually kills himself because of the Christianity (Achebe p208). As Achebe accurately depicts, the Ibo people have a rich culture as evidenced by their tribal customs such as their values, social structure, language, religious beliefs and government. His main aim or theme therefore was to depict traditional Ibo life prior to and after the advent of the Christians missionaries. Tribal custom dictates every aspect of members lives. In a wonderfully unbiased approach, Achebe’s text offers the reader the cultural roots of the Igbo people, all their beliefs, customs and historical past. In the whole of section one of the text, Achebe explains the details of the Ibo culture. To immerse the reader in the Ibo way of life, he goes into detail talking about the more subtle cultural aspects of the community such as the customs of feasts and communal activities, sporting events and crop rotation. In the tribe, the number of yams a man grows, the number of titles he holds and the number of wives he acquires determines his worth. Their acknowledgement of a mans very being is by the gods approval. Okonkwo struggles to live up to what he perceives as traditional standards of masculinity. His failure to adapt to the changing world points out the importance of tradition and custom in the novel. In the novel, the tribe of Ibo defines itself through the age-old traditions it practices. While some habits mold the daily lives of the people, other customs are reserved for special ceremonies. An example of habits that mold the daily lives of the people is when the head of a family honors male guests by praying over and sharing a kola nut with them. He offers the guest the privilege of breaking the nut and after the provider of palm-wine tastes it, they drink together with the oldest person taking the first sip. Ceremonial customs on the other hand are more elaborate. One example is The

Mental and Physical Problems Stemming From Childhood Obesity Research Paper - 1

Mental and Physical Problems Stemming From Childhood Obesity - Research Paper Example According to Pretlow (2010), childhood obesity is caused by the imbalance between the calorie intake and calorie utilized (p. 1). Changing life styles, life philosophies and eating habits are causing this problem. Many of the modern children consider eating as a recreational activity. They are not much interested in researching the ingredients of the food while taking food from fast food outlets and restaurants. Instead of nutrients, taste is the primary factor considered by the modern children while taking foods. At the same time, modern generation is less interested in physical workouts even though they are taking excessive fatty and sweetly foods. Thus excess calories acquired through food get deposited or accumulate in the body as fat which will create problems in the life of the child at present as well as in the future. Karnik & Kanekar pointed out that â€Å"Lack of playtime, little or no physical education at schools, videogames and excessive TV viewing time are proposed as the major cause of the childhood obesity epidemic† (Karnik & Kanekar, p. 4). Obese children may not be able to socialize properly with peers. They often undergo bullying and teasing from the fellow students. So, they will try to limit their activities in front of computers or television sets. They may not go out and play with the peers because of the fear of teasing and harassment. Many children have the habit of taking shelter in eating to avoid frustrations generated out of obesity related problems. Overeating may increase the obesity related problems further. Modern researches have shown that childhood obesity may cause physical and mental problems in the current life of the child as well as in the future life of the child. Physical health problems such as overweight, high blood pressure, cholesterol, coronary problems, diabetes, thyroid etc and mental problems such as lack of self-esteem,

Modern Portfolio Theory and Capital Asset Pricing Model

Modern Portfolio Theory and Capital Asset Pricing Model Introduction The Capital Asset Pricing Model developed by William Sharpe has significant similarities with Harry Markowitz’s Portfolio theory. In fact, the later is rightly considered as the next logical step from the latter, with both based on similar foundations. There are also differences in how each model/theory is calculated, pertaining to risk considerations. This paper’s main objective is to identify these differences while highlighting the similarities as well to put things into perspective. The report will open with an overview of Markowitz’s portfolio theory and explain it further by means of describing the efficient frontier, the Capital Market Line, risk free asset and the Market Portfolio. The report will then switch its attention to the Capital Asset Pricing Model and explain it further through the Security Market Line. The report will then close by outlining the differences between the two with a view of answering the main objective. What will come through in this report is that Markowitz’s portfolio theory uses standard deviation as its risk measure and takes into account all risk in an efficient portfolio, while the Capital Asset Pricing Model uses the beta co-efficient to measure risk and takes into account both efficient and non-efficient portfolios – further more it measures the risks of individual assets within the portfolio. Modern Portfolio Theory Modern Portfolio Theory (MPT) was introduced by Harry Markowitz, way back in 1952. At a high level it proposes how rational investors use diversification to optimise their investment portfolios and give guidance on pricing risky assets. MPT assumes that investors are risk averse, i.e. given two assets A and B offering the same expected return, investors will opt for asset A if it is less risky. In effect, an investor who expects higher returns would need to accept more risk. The expected trade-off between risk and return depends on the individual’s level of risk aversion. The implication of this is a rational investor (a risk averse investor) will not invest in a portfolio if another one exists offering a better risk-return profile (Fabozzi Markowitz, 2002). For any given level of risk, investors will opt for portfolios with higher expected returns instead of those with lower returns. Another assumption under MPT is that investors are only interested in the expected return and the volatility of an investment, as measured by the mean and standard deviation respectively. Investors do not consider any other characteristics, for example, charges. In effect, based on the assumptions above, investors are concerned about efficient portfolios. To explain portfolio theory further, let us consider the formula for the expected return and risk of a portfolio under MPT. Suppose two assets A and B formed a portfolio in proportion (X) each, the expected return for that portfolio would be: R(p) = X(a)R(a) + X(b)R(b), where: R(p) = expected returns from portfolio R(a) = expected returns from asset A R(b) = expected returns from asset B The standard deviation or risk of that portfolio would be: SD(p) = √(XÂ ²aSDÂ ²a + XÂ ²bSDÂ ²b + 2XaXbRSDaSDb), where: SD(p) = standard deviation of expected returns of portfolio SDa = standard deviation of expected returns of asset A SDb = standard deviation of expected returns of asset B R = correlation coefficient between the expected returns of the two assets The efficient frontier Under MPT, Markowitz examined the efficient frontier curve. The efficient frontier curve gives a graphic presentation of a set of portfolios that offer the maximum rate of return for any given level of risk (McLaney, 2006). According to Markowitz, an efficient investor will opt for an optimum portfolio along the curve, based on their level of risk aversion and their perception of the risk and return relationship (Fabozzi Markowitz, 2002). Figure 1: Efficient Frontier Source: www.riskglossary.com The curve in the diagram above illustrates the efficient frontier. Portfolios on the curve are efficient – i.e. they offer maximum expected returns for any given level of risk and minimum risk for any given level of expected returns. The shaded region represents the acceptable level of investments when risk is compared against returns. For every point on the shaded region, there will be at least one portfolio that can be constructed and has a risk and return corresponding to that point (www.riskglossary.com) As aforementioned, each portfolio on the efficient frontier curve will have a higher rate of return for the same or lower level of risk or lower risk for an equal or better rate of return when compared with portfolios not on the frontier. It is important to note that the efficient frontier is really made up of portfolios rather than individual assets. This is because portfolios could be diversified, i.e. investors can hold assets which are imperfectly correlated (Fabozzi Markowitz, 2002). This will help to ensure that investors can reduce their risks associated with individual asses by holding other assets – a kind of set-off. The Capital Market Line The Capital Market Line (CML) is a set of risk return combinations that are available by combining the market portfolio with risk free borrowing and lending (www.lse.co.uk/financeglossary). The CML defines the relationship between risk and return for efficient portfolios of risky securities. It specifies the efficient set of portfolios can investor can obtain by combining the portfolio (which contains risk) with a risk free asset. The formula for CML is: E (r_c) = r(f) + SD(c)*[E(r_m)-r(f)]/SD(m) Where: E(r_c) = expected return on portfolio c R(f) = risk free rate SD(c ) = standard deviation of portfolio c E (r_m) = expected return on market portfolio SD(m) = standard deviation of market return The CML indicates that the expected return of an efficient portfolio is equal to the risk-free rate plus a risk premium. Both risk and return increase in a linearly along the CML. Figure 2: Capital Market Line Source: www.riskglossary.com In Figure 2 above, the CML is the line touching the efficient frontier curve. It passes through the risk free rate (assumed to be 5%). The point where the CML forms a tangent with the efficient frontier curve is the point called the super-efficient portfolio. The Risk free asset, Sharpe ratio and the Market Portfolio The risk free asset pays a risk free rate and has a zero variance in returns, e.g. government short-term securities. When combined with a portfolio of assets the change in return and risk is linear. The Sharpe Ratio is a measure of the additional return to be obtained about a risk free rate for a given portfolio compared with its corresponding risk. On the efficient frontier the portfolio with the highest Sharpe Ratio is known as the market portfolio. The CML is the result of a comparison between the market portfolio and the risk free asset. The CML surpasses the efficient frontier with the exception of the point of tangency. The Capital Asset Pricing Model While the CML focuses on the risk and return relationship for efficient portfolios, it would be useful to consider the relationship between expected return and risk for individual assets or securities. The Capital Asset Pricing Model (CAPM) would be used for this. CAPM is an extension of Markowitz’s Portfolio Theory or MPT. It introduces the notions of systematic and specific risks. Let us define each: Systematic risk – this is the risk associated with holding the market portfolio of assets Individual assets are affected by market movements Specific risk – this risk is unique to an individual asset and represents that portion of an asset’s return which has no correlation with market movements. CAPM assumes the following (McLaney, 2006, 199): Investors are risk averse and maximise expected utility of wealth The capital market is not dominated by any individual investors Investors are interested in only two features of a security, its expected returns and its variance or standard deviation There exists a risk free rate at which all investors may borrow or lend without limit at the same rate There is an absence of dealing charges, taxes and other imperfections All investors have identical perceptions of each security This lends credence to the assertion that CAPM follows a natural progression from MPT. The assumptions are identical with the main difference being how risks are categorised and treated. This will be explored in detail in a later section. Under CAPM, the market place will compensate an investor for taking a systematic risk but not a specific risk. The rationale for this is that specific risks can be avoided or minimised through diversification. The formula for CAPM is as follows: r = Rf + Beta x (RM-RF), where: r = expected return on an asset Rf = rate of risk free investment RM = return rate of the appropriate asset class Beta is the relative risk contribution of an individual security to the overall market portfolio. It measures the security risk relative to the market portfolio and ignores the specific risk. The beta equation is as follows: Cov (i,M)/(SDm)Â ², where: Cov (i,M) = covariance between market portfolio and security i (SDm)Â ² = variance of the market’s return The betas for all assets are measured in relation to the market portfolio beta which is 1. In effect, if individual beta is greater than 1, then individual asset has a higher risk than the market risk. If individual beta equals 1, then individual asset risk and market risk are the same. If individual beta is less than 1, then the risk of that individual asset is less than the market risk. The value of beta provides an idea of the level or size of the change in an asset’s return when a corresponding change in the returns of an overall portfolio is experienced (McLaney, 2006). Beta has come under criticism from academics and investors who do not appreciate the value of beta as an appropriate risk measure. However, this is somewhat challenged by actual performance of the betas of portfolios and mutual funds. These are regarded as stable and can be used to predict future betas. Security Market Line CAPM can be applied by using the Security Market Line (SML). SML is a graphical representation showing the linear relationship between systematic risk and expected rates of return for individual assets. In the case of the SML, risk is measured by beta. It plots the expected returns on the y axis and the risk as denoted by beta on the x axis. In other words, the SML expresses the linear relationship between the expected returns on a risky asset and its covariance with market returns. Its formula is: Figure 3: CAPM and SML The line in the diagram above is the SML. Differences relating to MPT (CML) and CAPM (SML) To explain the differences, it is useful to consider the relationships between risk and return in the perspective of CML and SML. CML compares the relationship from an MPT perspective, while SML does from a CAPM perspective. The main difference pertaining to MPT’s relationship with CAPM is pertaining to risk. Under Portfolio theory, CML gives an indication of expected returns in comparison with risk. Here the risk is measured in terms of standard deviation of returns. The rationale for this is CML represents the trade-off for efficient portfolios, i.e. the risk is all systematic risk (McLaney, 2006). The SML on the other hand, indicates the risk/return trade-off, using beta as the measure of risk. In this case, only the systematic risk element of the individual asset is taken into consideration. The reason why CML shows no individual security’s risk profile is because all individual securities have an element of specific risk, implying that they are inefficient. CML only looks at efficient portfolios. The table below summarises the main differences between CML and SML Table 1: Tabular difference between CML and SML Summary As has been shown above, CAPM has been developed along the lines of Markowitz’s Portfolio theory. They both use expected returns and risk as the investor’s main determinant of their investment decisions. They both assume that investors are risk averse and do not consider anything else other than risk and returns. However, there are some subtle differences which will now be summarised below: Under Portfolio theory, the CML measures risk by standard deviation or total risk. The SML measures risk by beta or systematic risk under CAPM – it ignores specific risks The CML graph is interested in providing information on efficient portfolios only. The SML graph on the other hand provides insight into both efficient and non-efficient portfolio and securities REFERENCES AND BIBLIOGRAPHY Books Bodie, et al (2006) ‘Investments’ (7th edition), McGraw-Hill/Irwin, London Elton, E et al (2003) ‘Modern Portfolio Theory and Investment Analysis’, Wiley, London Fabozzi, F. Markowitz, H. (2002) ‘Theory and Practice of Investment Management’, Wiley, London McLaney, E. (2006) ‘Business Finance – Theory and Practice’ (7th edition), Prentice Hall, London O’neill, W.J. (2002) ‘How to Make Money in Stocks’, (3rd edition), McGraw-Hill, London Internet Sources www.lse.co.uk www.riskglossary.com www.wikipedia.com

Conquering the Texas Frontier :: essays research papers

Conquering the Texas Frontier When looking at the vast lands of Texas after the Civil War, many different people came to the lands in search for new opportunities and new wealth. Many were lured by the large area that Texas occupied for they wanted to become ranchers and cattle herders, of which there was great need for due to the large population of cows and horses. In this essay there are three different people with three different goals in the adventures on the frontier lands of Texas in its earliest days. Here we have a woman's story as she travels from Austin to Fort Davis as we see the first impressions of West Texas. Secondly, there is a very young African American who is trying his hand at being a horse rancher, which he learned from his father. Lastly we have a Mexican cowboy who tries to fight his way at being a ranch hand of a large ranching outfit. Emily K. Andrews, wife of Col. George Andrews of Fort Davis, starts her journey in mid summer around the Austin area. She travels with others as they make their way East. Through her journal entries to her father, we can see that this was no easy trip. She seems to be used to a solid roof over her head, as well as a non-dirt floor. She tells that on many occasions of the threat of Indians, and how ruthless they are, keeping her distance and even sleeping "with one eye open" while in the camps along the way. Being a woman out on the frontier she does not seemed to be scared yet comes off as being rather brave and very smart. Her descriptions of the land and the towns they encountered along the way are very precise and if it had been possible for other females to read would have set their minds at ease. In her journal she talks about how inviting the other frontier people are and how reassuring that is to help keep her mind off the ever threatening Indian attacks. On the other hand there were people trying to settle and make a living for themselves, especially after the freeing of all the slaves. Will Crittenden is one of those people. He was born in Texas after his father moved here from Alabama. Will had been taught about being a horse rancher at the age of 5 from his father and now at the age of 15 was ready to go out on his own.

Agora Company Essay

Bangladesh entered the supermarket era on August 24, 2001 with Rahim afrooz Superstores Ltd. launching Agora, a retail chain superstore in Bangladesh, introducing a new way to shop. The company has already opened four outlets Rifles Square, Gulshan Avenue, Maghbazar and Mirpur Zoo Road in Dhaka and many more are in progress in Chittagong and other cities of the country. The superstores are open from 9 am to 8 pm every day. Rush of customers is experienced in the morning and evening. Most of the employees of Agora are young and well-educated, some with Masters and MBA degrees. Agora superstores are currently focused in food retailing, ranging from a wide variety of fresh vegetable, fruits, meat and fish to grocery, bakery, dairy, personal and household products. Agora provides its customers with guaranteed quality and freshness. It carries more than 30,000 varieties of products and has plans to expand its product portfolio to carry other ranges of consumer products in the coming years . It aims at building a chain of more than 40 superstores by year 2010.Other supermarket brands have since emerged but Agora continues to be the leader and trendsetter. Agora has been the venue of launching of Thai products, which have by now become commonplace. Californian apples were launched here as have been Agora buys products direct from the growers, which benefits the latter as well as the customers. The products are procured under the direct supervision of its officials who maintain strict procurement and marketing standards. Products on the shelves are regularly monitored for expiry dates. Australia‘s red apples, and crystal products from France were unveiled here. Unilever chose to launch L‘Oreal range of cosmetics at Agora superstores. The big-sized ‘Boroi’ so common in the market was launched here. Recently the scientist behind the cultivation of Strawberry in Bangladesh launched the delicious fruit at Agora. Over 8 million have purchased products at Agora since the opening of Agora‘s fist superstore, with 2,000 customers using the Agoras every day on an average. Rifles Square and Gulshan’s upper markets pull more crowd than the other two. Customers prefer using both cash and credit cards. Agora constantly launches attractive promotions like Bazimat, Value Week or Super Value Offer or Diamond Ring Offer. The promoter of the Agora project, Rahim afrooz, is one of the most respected companies in Bangladesh manufacturing and marketing stored power systems for the automotive industry. All of Rahimafrooz‘s activities are in the service sector,  focusing on consumers, an official of Agora‘s operating company Rahim afrooz Superstores Ltd., said. The Agora project was a ground-breaking project that underlines the potential for harnessing the latent market in Bangladesh, said an executive of a leading corporate house adding, they have produced a service offering of inter national standard Agora is the largest retail superstore in Bangladesh. Agora‘s interior is similar to most supermarkets in design and layout due to trends in marketing. It produce tends to be near the entrance of the store. Various kinds of products and services are sold (at least 2500 products and services). Milk, bread, and other essential items are located in the rear and other out of the way places. This is purposely done to ensure maximum time spent in the store, strolling past other items and capitalizing on impulse buying. The front of the store or Front-End is where one might find point of sale machines or cash registers. Agora has plans to implement self-checkout devices in their stores in an attempt to reduce labor costs as well as bringing complete customer satisfaction. Understanding the historical context from which some of today’s organizational structures have developed helps to explain why some structures is the way they are but Agora using a structured which is more horizontally capitalizing on the innovativeness of their employees. Part of the reason, as this section discusses, is that organizational structure of Agora that has a certain inertia —  the idea borrowedfrom physics and chemistry that something in motion tends to continue on that same path.Because of this unique management process they have become the leading superstore in theBangladesh. The managers of Agora have to make decisions as they develop an organizational structure,although they may not be explicitly aware of these decisions. Agora is synonymous with marketat low prices and name brand quality products. The company basis of success and foundationscannot be credited to the current management. Agora formula for success simply put is theirrelationship with customers, employees, and technology that assists in forming relationships withtheir suppliers; places Agora as the top discount retailer, history-development, and Growth SamAgora to become the top discount retailer Competitive Advantage of Agora: Agora marks a turning point in the concept of retailing in Bangladesh. From the very beginning of its operation since 2001, the super-market chain store has put the convenience of its target consumers the middle and higher middle class, foremost in devising its marketing strategies. Agora attempts to maintain an image and atmosphere that is consistent with its pledge for quality and customer satisfaction. The stores occupy very large premises at expensive areas of the city and offer a wide assortment of food stuffs, daily house hold items and durables that would mostly appeal to its target population, Unlike, many such large stores, Agora tries to remain ahead of its competitors by sponsoring innovation of local innovations. Agora advertises through newspapers and billboards a very selective approach as it does not target the mass but mostly those living in close proximity to the store. The logo â€Å"Agora†- in English-points to the importance of the image factor, which is important to their promotional strategy adequate car parking space for congestion free shopping Air-conditioning and child’s play area and other amenities, are provided to increase the comfort of shopping. Although Agora is at a very early stage in its life, the management is at present following a very cautious marketing strategy. The overall 10% annual sales growth offer a reflection to the potential of Agora to attain its long term objectives of becoming the market leader in the retail industry. Near future sustainability of the competitive advantage: Agora is currently charging maximum retail price that is given to it by its suppliers. The prices are congruent with that of the rest of the market. However, the management has plans to offer prices lower than the ones offered by the competitors in the market.

Truancy Among Students

As growing age, truancy is not a new phenomenon in Malaysia. According to dictionary, truancy means act or condition of being absent without permission. It also means any intentional unauthorized absence from compulsory schooling. (Pearson Education Limited). Truancy happens because students have no interest in studies. A very strict teacher also affected the interest of student. Apart from that the subject taught was too boring or difficult but they have to take the subject for examination.In addition, most of student thinks truancy is best way to run away from any problems life. This leads to immoral activities such as vandalism, burglary, substance abuse and gang activity. Thus, to avoid the truancy become more critical issue among Malaysian school students the Ministry of Education have to take action by solving this problem. How do they solve it? There are suggestions to reduce truancy are the ministry have to enhance skill of teaching, counselling service and organize lectures and campaign.Teacher needs to improve their skill of teaching so that the students will enjoy every moment in the class as problem of truancy can be prevent. In other hands, teacher should make class more interesting. In the class teacher is not only use the text book as material but also make a video or fun activities because our brain easily get bored and tired of monotone learning. Therefore when students learn something with enjoyable it will immediately store in long term memory and students were able to understand.Teacher should give students chance to voice out their opinion in the class. So that teacher is not talking much alone when there are two-way communication between students and teacher. This make a process of learning were help students succeed in school as truancy will be decreased. In the nutshell truancy become a top issue among Malaysian students in order produce a great future generation. According to a survey conducted by ministry, 58. 5 per cent of truancy cas es last year involved student in rural areas as compared with 41. 45 per cent in cities. This affected the increasing rates of discipline problems in schools. However, there are strategies to reduce truancy whereas the ministry take part overcome this problem by enhance skill of teaching, counselling service and organize lectures and campaign. Reference: 1) Kgsilou. blogspot. com/2012/03/truancy-among-school-children-rampant. html 2) Pearson Education Limited

Bop Rules Essays

Bop Rules Essays Bop Rules Essay Bop Rules Essay BP-A0629 A R VISITOR INFORMATION U. S. DEPARTMENT OF JUSTICE Addressee Institution CDFRM FEDERAL BUREAU OF PRISONS Date Re: (Inmate’s Name and Register No. ) Dear : I am requesting that you be included among my approved visitors. In order to establish your suitability as a visitor, it may be necessary for institution officials to send an inquiry to an appropriate law enforcement or crime information agency to ascertain whether or not placing you on my visiting list would present a management problem for the institution, or have other possible adverse effects. The information obtained will be used to determine your acceptability as a visitor. The Bureau of Prisons’ authority to request background information on proposed visitors is contained in Title 18 U. S. C. Â § 4042. In order for you to be considered for the visiting privilege with me, it will be necessary for you to fill out the questionnaire and release form below and return it to the following address: (Institution address). You are not required to supply the information requested. However, if you do not furnish the information, the processing of your request will be suspended, and you will receive no further consideration. If you furnish only part of the information required, the processing of your request may be significantly delayed. If the information withheld is found to be essential to the processing of your request, you will be informed, and your request will receive no further consideration unless you supply the missing information. Although no penalties are authorized if you do not supply the information requested, failure to supply such information could result in your not being considered for admittance as a visitor. The criminal penalty for making false statements is a fine of not more than $250,000 or imprisonment for not more than five years or both (See 18 U. S. C. Â § 1001). Sincerely, 1. Legal Name 4. Telephone Number (Including Area Code) 6. Are you a U. S. Citizen? Yes No 2. Date of Birth 5. Race and Sex of Visitor 3. Address (Including Zip Code) 6a. If yes, provide Social Security No: 6b. If no, provide Alien Registration No: 6c. Provide Passport No: 7. Relationship to above-named inmate 8. Do you desire to visit him/her? Yes No Yes No 9. Did you know this person prior to his/her current incarceration? 0. If the answer to #9 is yes, indicate the length of time you have known this person and where the relationship developed. 11. Have you ever been convicted of a crime? conviction/s: If so, state the number, date, place, and nature of the 12. Are you currently on probation, parole, or any other type of supervision? If so, state the name of your supervising probation/parole officer and the address and telephone no. where he/she can be contacted: 13. Do you correspond or visit with other inmates? 14. Driver’s License No. and State of Issuance If so, indicate the individual(s) and their location(s): AUTHORIZATION TO RELEASE INFORMATION I hereby authorize release to the Warden of: ________________________ any record of criminal offenses for which I (Institution, Location) have been arrested and convicted, and any information related to those convictions. Signature for Authorization to Release Information (Sign and Print Name)Parent or Guardia (If applicant is under 18 years of age, signature of parent or guardian indicates consent of minor to visit inmate). If additional space is required, you may use the back of this form. To be filed in Inmate Central File, FOI Section 2 PDF Prescribed by P5267 Replaces BP-A629 of Sep 00 FILE IN SECTION 3 UNLESS APPROPRIATE FOR PRIVACY FOLDER SECTION 3 BP-A0629 INFORMACION DE VISITANTE CDFRM AGENCIA FEDERAL DE PRISIONES DEPARTAMENTO DE JUSTICIA DE EE. UU. **This template is provided to assist Spanish-speaking inmates who are not fluent in English to complete the corresponding Bureau form. It is a template only for instructional purposes, and should not be filled in. ** **Este modelo se provee para ayudarle a los reos que hablan espanol y no dominan el ingles a que completen el formulario correspondiente de la Agencia. Es solo un modelo que sirve como ejemplo, y no se debe completar. * Destinatario Institucion Fecha Asunto: (Nombre del Reo y Numero de Registro) Estimado/a : He pedido que usted sea incluido/a entre mis visitantes aprobados. Para establecer lo apropiado que es que usted sea un visitante, pueda ser necesario que los oficiales de la institucion envien un formulario de investigacion a una agencia apropiada de orden publico o de informacion de crimenes para determinar si el colocarle en mi lista de visitantes presentaria un problema de administracion para la institucion, u otros posibles efectos adversos. La informacion obtenida se usara para determinar su aceptacion como un visitante. La autoridad de La Agencia Federal de Prisiones para solicitar informacion de antecedentes de los visitantes propuestos se encuentran en Titulo 18 U. S. C. Â § 4042. Para que usted sea considerado para obtener el privilegio de visitarme, es necesario que usted complete el cuestionario y el formulario de autorizacion a continuacion y que lo devuelva a la siguiente direccion: (Direccion de la institucion). Usted no esta obligado/a a proveer la informacion solicitada. Sin embargo, si usted no provee la informacion, el procesamiento de su solicitud se suspendera, y no recibira ninguna consideracion adicional. Si usted provee solo parte de la informacion requerida, el procesamiento de su solicitud puede demorarse considerablemente. Si se determina que la informacion no divulgada es esencial para el procesamiento de su solicitud, usted sera notificado, y su solicitud no recibira ninguna consideracion adicional, a menos que usted provea la informacion que hace falta. Aunque no hay penalidades autorizadas en caso que usted no provee la informacion solicitada, el no proveer tal informacion podria resultar en que usted no sea considerado para ser admitido como un visitante. La penalidad criminal por hacer declaraciones falsas es una multa de no mas de $250,000 o encarcelamiento de no mas de cinco anos, o ambos (Vea 18 U. S. C. Â § 1001). Sinceramente, 1. Nombre Legal 4. Numero Telefonico (Incluyendo Codigo de la Zona) 6. ?Es usted Ciudadano Estadounidense? Si No 6c. Supla su numero de Pasaporte: 7. Relacion al reo nombrado arriba 8. ?Desea usted visitarlo/a? Si No Si No 2. Fecha de Nacimiento 5. Raza y Sexo del Visitante 3. Direccion (Incluyendo Codigo Postal) 6a. De ser asi, supla su numero de Seguro Social: 6b. De no ser asi, supla su numero de Registro de Inmigracion: 9. ?Conocia usted a esta persona antes de su encarcelacion actual? 10. Si la respuesta a #9 es Si, indique cuanto tiempo usted ha conocido a esta persona y de donde se desarrollo esta relacion. 11. ?Alguna vez a sido declarado culpable de un crimen? De ser asi, declare cuantas veces, la/s fecha/s, el/los lugar/es, y la razon por la/s condena/s: 12. ?Esta usted actualmente bajo libertad bajo probatoria, libertad condicional, o cualquier otro tipo de supervision? De ser asi, supla el nombre de su oficial de upervision de libertad condicional u oficial de libertad condicional y la direccion y numero de telefono donde el/ella puede ser localizado/a: 13. ?Se corresponde o visita a otros reos? De ser asi, indique el/los individuo/s y donde se encuentra/n: 14. Numero de Licencia para Conducir y el Estado Emisor AUTORIZACION PARA DISTRIBUIR INFORMACION Yo, por la presente, autorizo la distribucion al Warden de: (Institucion, Lugar) o fensas por las cuales he sido arrestado/a y condenado/a, y cualquier informacion pertinente a esas condenas. Firma para la Autorizacion para Distribuir Informacion (Firme y Nombre Escrito) Padre o Guardian cualquier archivo criminal de (Si el solicitante es menor de 18 anos, la firma de un padre o guardian indica el consentimiento a la visita de un menor de edad. ) Si requiere espacio adicional, puede usar el dorso de este formulario. Para ser archivado en la Seccion 2 de FOI en el Expediente Central del Reo PDF Prescribed by PS 5267 Reemplaza BP-A629 fechado Sept. 00 ARCHIVELO EN LA SECCION 3 A MENOS QUE SEA APROPIADO PARA EL ARCHIVO DE INFORMACION PRIVADA SECCION3

Feild note Essay Example | Topics and Well Written Essays - 1500 words

Feild note - Essay Example There was also the topic of female perception, which looked into the kind of ideas that adolescent girls develop after listening to and reading various kinds of advertisements. Then there was the topic of purchasing behavior, which centered on the trend of purchases made by adolescent girls in relation to what they hear from advertisements. Finally, there was focus on the effect of the decisions that girls take after acting to various forms of food and nutrition advertisements. Level of accuracy of transcription and transcription conventions: (Here you should note how accurate the transcription is and what factors affected this level. You should also note your own conventions used such as using all caps for emphasis, line breaks for pauses, etc.) The transcription can be said to be highly accurate given the strategies put in place to influence the level of accuracy with the practice. In the first place, as much as the researcher made on-the field transcription, the interview was also tape recorded with permission. This ensured that where there were lapses with the on-the field transcription, this was made up after the researcher went home. Whiles undertaking the transcription, there were clues that were personally developed to make interpretation easier. For instance CAPS were used to depict emphasis ___________________________________________________________________________ (Transcript begins below) Time Transcript (Start of Interview) Interview 1 Interviewer: Have you ever had the chance of buying the food and nutritional products that you consume on a day-to-day basis? Interviewee: Umm, I do have a chance to buy food and nutrition products that I use on daily basis. Umm†¦ I yah I do†¦Ã¢â‚¬ ¦I go to the store and when I see them there I sometimes purchase them and sometimes I do not †¦.yeah. Interviewer: What role do your parents play in the purchasing decisions that you make? Interviewee (student A): My parents play a very important role in th e purchasing decisions that I make, especially my mom. Umm†¦. She tries to get me to be healthier. This is different to my dad, who will†¦ umm†¦ actually get me junk food to eat. Interviewer: Through which channels do you often hear about the kinds of food and nutritional products and services that you patronize? Interviewee (student A): I hear about them on TV mostly. Umm†¦ I see advertisements for healthy fruits that would be good, not just you know non healthy stuff, which is what mostly attracts me. Interviewer: When you listen to food and nutritional advertisements, what are the specific things you hear about particular products that make you choose to purchase some? Interviewee (student A): The specific things I hear about the foods that I would buy like that would make me want to choose to buy it is how healthy it can be for me and if it tastes good or not. Interviewer: Does the frequency at which you hear about a particular food or nutritional produc

Professional athletes and celebrities as role models Essay

Professional athletes and celebrities as role models - Essay Example 1). As contended by Shaw, Whitehead and Giles, â€Å"celebrities are meaningful figures in the lives of young people in particular, and elicit a much more complex set of responses than simple imitation (577). In this regard, one is firmly convinced that people are able to discern who among the professional athletes and celebrities could be good models and who are anti-role models whose influence could lead those emulating them into significantly disastrous consequences; as such, not all professional athletes and celebrities are good role models who must be imitated and revered. In a study conducted by Read, the author focused on â€Å"ways in which the gendered social construction of the ‘popular girl’ infuses girls’ ideas as to their role models: those representing who they would like to be when they ‘grow up’† (Read 1). Apparently, Read discovered that â€Å"young boys were not likely to consider either their male or female teachers to be r ole models – favouring instead sports or TV stars or male relatives and friends of their family† (Read 5). ... The reasons for selecting these personalities as role models vary. For girls, the reasons range from appearance, accomplishments, and personality (Read). â€Å"Many of the girls who cited aspects of appearance as reasons for choosing particular role models chose celebrities, especially pop singers, as their role models, often (but not always) choosing singers of the same ethnicity as themselves† (Read 7). Likewise, it was contended that the disparities between selecting professional athletes for boys and celebrities for girls stem from this theoretical framework: â€Å"boys have traditionally displayed an active posture and girls, a passive one †¦ girls’ behaviour has historically included a focus on relational and intimacy work, nurturance and emotional supportiveness, and a concern with developing feminine allure† (Adler, Kless, and Adler 170). Regrettably, at very young ages, the development of role models was recognizably premised on external appearances and the image that is projected on the outer facade. There could be danger of emulating celebrities with hidden vices and unconventional behavior. In an article written by Shaw, Whitehead and Giles, the authors explored the contention that â€Å"negative roles models, celebrated in the press, lead to the heightened risk that young people will themselves engage in health risk behaviours such as drug use† (Shaw, Whitehead and Giles 575). Their study focused specifically on Amy Winehouse, a talented singer-songwriter with publicly known image of drug abuse (Shaw, Whitehead and Giles). The authors cited a study written by Boon and Lomore study which disclosed that â€Å"the majority of participants claimed that their idols had a