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,