‘Sustainable Tourism Is a Myth.’ to What Extent Do You...

‘Sustainable Tourism is a Myth.’ To what extent do you agree with this statement? (15 Marks) Sustainable Tourism is essentially an industry committed to making a low impact on the natural environment and local culture, while helping to generate income and employment for local people. As Global economists forecast continuing international tourism growth, this continuous growth will place great stress on remaining biologically diverse habitats and indigenous cultures, which are often used to support mass tourism. Therefore it is important that sustainable tourism is promoted and that people are educated about the opportunities provided in order to minimize the effects that tourism poses on the natural environment while helping to benefit†¦show more content†¦Furthermore, both LEDC’s and MEDC’s are becoming to reliant on mass tourism and are not taking into the account the impacts in the long term for example 85% of Majorca’s income is through tourism which means there is a lack of economic independence because if the island were to suddenly become unfashionable then the Island would be left in a vulnerable income. This is especially the case here as tourism has destroyed farming and agricultural labour which used to be the main source of income which means Majorca has no other form of income to fall back on if tourism was to decrease in the area. 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Financial Statements Structure Newcrest Mining Limited

Questions: PART A: Part A1 Provide an executive summary of your companys background relating to business structure, operations, services and all other business activities that are conducted, etc. Part A2 Use the annual report for the year ending 30 June 2014. Your group will need to review the major sections of this report in order to familiarize yourselves with the content of each of the financial statements and appropriate notes to the financial statements. Review the balance sheet of the company and indicate the amount of the following: a) Total current assetsb) Total non-current assetsc) Total current liabilitiesd) Total non-current liabilitiese) Total stockholders equity Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial condition of the company. Part A3 Review the income statement and indicate the following: a) Total (operating) revenuesb) Cost of Goods Sold (if relevant)c) Total expenses (before income taxes)d) Any non-operating (or extraordinary) gains and lossese) Earnings per common share Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial operation of the company. Part A4 Review the statement of cash flows for the most recent year and indicate the following: a) net cash inflow (outflow) from operating activitiesb) net cash inflow (outflow) from financing activitiesc) net cash inflow (outflow) from investing activitiesd) net increase (decrease) in cash during the year Analyse the Cash Flow Statements for the last 2 years and comment on the cash position of the company. Part A5 Review the stockholders' equity section in your chosen company's most recent year-end balance sheet and compare that with the previous year-end balance sheet. Compare percentage increase or decrease. List the stockholders' equity account balances and number of outstanding shares from these two balance sheets and compute the increase or decrease for eachduring this past year. 1.Describe the alternatives the organisers have in relation to recognizing revenues. Which would you recommend and why? 2. Would your answer differ if you included in the sale of the tickets that if the customers are not happy the tickets may be returned within one month? 3. Let us assume that the organisers contracted a selling agent that takes care of all selling and marketing responsibilities, gets 10% as commission. The policy states that no return no exchange. When should the organisers recognize revenue? 4. With regards to the authenticity of the signatures, do you think the accounting profession have the skills to provide the services to authenticate? Discuss and show examples. 5. Discuss the importance of Cost of Goods Sold(COGS) in this case. How is it applied? 6. Let us say that the signatories will get a fixed fee for the effort, when would the organisers recognize the expense? 7. Assume that the signatories will get a 5% commission on the sales of their signed tickets. When would the organisers recognize the cost? Answers: Introduction: The company which we have selected for presenting the report is related to the mining sector in Australia. The company name is NEWSCREST MINING LIMITED. The company is operating in various countries including Australia through joint ventures, subsidiaries and associates. The company operations are related to Mining of Gold and producing gold thereon. The corporation is an Australian corporation which is involved in the developing, exploring and producing the gold and the concentrate of gold and copper in Australia and other international countries also like Indonesia. The company is a leading Gold Mining and exploring corporation in Australia. The corporation is listed in Australian Stock Exchange. Now we will discuss the financial parameters of the company in detail for the two financial years ending on 30.06.2014 and 30.06.2013 and make a comparison of the two years. While doing so we are going to analyse the growth of the corporation financially on various financial parameter like current assets, current liabilities, shareholders equity etc. Executive Summary- Part A1 The background of the company is that the company was founded by William Thompson (the Colonel) in the city of New York in the year 1921. It was formed as a holding company which wants to invest in mineral oil resources worldwide as well as the related companies in like operations. The corporation primary focus was Australia up to 1991. But since 1991 the company has been looking for opportunities in overseas operations also. The company headquarters are in Melbourne, Australia. The company is ranked in top 50 listed companies in Australian Stock Exchange and is also listed in the Port Moresby Stock Exchange. The companys operations consist of mining gold, exploration of the gold and development of the gold and the copper concentrate. The Australias largest operation in Gold mining operations, Cadia Valley Operations is a 100% subsidiary of the Newcrest Mining Limited. Cadia Valley Operations has 3 mines. All the three mines are large scale mines. These mines are using one of the following methods: a) Block and panel caving method b) Method in relation to open pit mining As per the data available in the website of the company the company is engaged in the production of Gold Dore with the help of a Gravity Circuit and the concentrate of gold and copper from the floatation circuit. The operation of the company involves the refining of the Gold Dore from Cadia Valley Operations at the mint of Perth and the concentrates of Gold and Copper are then piped to a plant which is dewatered at Blarney and thereafter the same is sent to Port Kembla in New South Wales for the exportation in countries of Eastern Asia. The company is also focussing on increasing its capacity to increase the reserves of Gold and Copper concentrates in its production. This will help the company to supply huge quantity of the product when required and there will be no shortage also. The company area of operation other than the Cadia Valley Operations is numbered below: a) Telfer, WA b) Lihir, PNG c) Bonikro, Cote dlvoire d) Hidden Valley, PNG e) Gosowong, Indonesia The company is also helping to develop the economy of the countries they operate in. They are largest contributor to the economy and source of employment in various areas in which they are operating. The company is also having some advanced project like Wafi-Golpu, PNG and Namosi, Fiji. The company uses all modern and safe technology in mining, exploration and other production processes. There are mainly two technologies mining and processing technology. The main focus of the company is to develop new innovative process of technology such that the work becomes simpler and the production target is met in lesser than expected time horizon. (Limited 2014) Analysis of the Balance Sheet of the Company- (Part A2) Now we are going to analyse the financial position of the company in relation to the consolidated figures from the report of the company available on its website. Figures in $ million Financial Parameter As on 30.06.2014 As on 30.06.2013 Absolute Difference % Increase/ (decrease) Remarks Total Current Assets 1267 1389 (122) (8.78%) Negative Total Non Current Assets 12320 15684 (3364) (21.45%) Negative Total Current Liabilities 656 933 (277) (29.69%) Positive Total Non Current Liabilities 5224 6138 (914) (14.89%) Positive Current Ratio 1.93 1.49 .44 - Positive Total Shareholders Equity 7581 9863 (2282) (23.14%) Negative Comments on the Comparative Financial Position of the Company Total Current Assets and Total Current Liabilities: If we talk about the change in the total current assets of the company, then we can say that the effect is not at all positive since the total current assets have decreased by $122 million in absolute terms and a percentage decrease of 8.78 from the previous year. But we cannot conclude straight forward regarding the financial condition of the company by comparing the total current assets only. We need to check the current ratio of the company. A current ratio is calculated by dividing the current liabilities from the current assets. The total current assets are taken in the numerator and the total current liabilities are taken in the denominator. The current ratio shows the financial condition of the company, how strong the company is financially in short period of time which is less than one year horizon. The strength of the short term liquidity position of the company can be calculated from the current ratio. Here the total curre nt ratio has been a positive impact. The reason being the total current assets have not fallen by much but the total current liabilities have fallen by much percentage in comparison with the total current assets. The fall in the total current assets is less thereby strengthening the short term liquidity of the company. This shows the companys good position to meet its short term working capital requirements. Total Non Current Assets and Total Non Current liabilities: On the other hand if we examine the increase or decrease in the Total Non Current Assets and Liabilities we found that the total Non Current assets have fallen much in absolute as well as the percentage terms also. This means that the company has been able to receive the long debts due from a long time. Contrary the Total Non Current Liabilities of the company has not fallen by the same amount and percentage as compared to the Non Current assets. This means that the companys long term liabilities are still there with less repayment from the last year. This difference shows that the financial position of the company in the long term is not so good when we talk about the short term position of the company. Changes in the Shareholders Equity: The shareholders equity has decreased very sharply from the last year. The sole reason being the loss in operation has widened in the last year of operation. The Reserves or the retained earnings amount has fallen by $2221 million which has led to fall in the shareholders equity. This fall leads to loss to the shareholders of the company. The loss will lead to fall in the share price of the company in the stock exchange, destroying the shareholders wealth. Analysis of the Income Statement of the Company- (Part A3) Figures in $ million Profit Loss Constituent Year ended 30.06.2014 Year ended 30.06.2013 Absolute Difference % Increase/ (decrease) Remarks Total Operating Revenues 4040 3775 265 7.02% Positive Cost of Goods Sold 3094 2941 153 5.20% Positive Total Expenses 3497 6924 3427 49.49% Positive Extraordinary Gain/(Loss) - - - - - Gross Profit Ratio(Sales/Cost of Goods Sold) 76.58% 77.91% Positive Earnings Per Common Share $(289.80) $(755.10) $465.30 61.62% Positive Here we see that the sales of the company have increased. This is positive trigger for the company. The next point to focus on is the Cost of sales of the company. If we look at the figures and the percentage difference we will be feel like that the cost of goods sold has increased. But we cannot give a final verdict on just comparing the cost of goods sold of the operation. There might be several reasons due to which the cost of goods sold is high. The production may be high and the sales figures are to be checked to comment of the financial operation of the company. We need to calculate the Gross Profit Ratio of the company. The gross profit ratio is calculated and has shown improvement since last year. So we can say that the company has a better Gross Profit Ratio. Thus the company has progressed a bit operationally. If we look at the other parts of the financial operation of the company in both the years the companys loss has decreased since last year tremendously and hence the company is in a position to cover the reduce the amount of previous losses. Thus the company is able to create shareholders wealth in the current year. Now coming next to the Earnings per Common Share of the Company, the company has posted Earnings per share of ($289.80) in comparison to ($755.10) showing a great increase in absolute as well as the percentage terms. So the financial operation of the company has shown a great turnaround since last year. (Madinson n.d.) Analysis of the Cash Flow Statement of the Company- (Part A4) Figures in $ million Cash Flows As on 30.06.2014 As on 30.06.2013 Absolute Difference % Increase/ (decrease) Remarks Net Cash Inflow (Outflow) from Operating Activities 1037 1147 (110) (9.59%) Negative Net Cash Inflow (Outflow) from Investing Activities (904) (2564) 1660 64.74% Positive Net Cash Inflow (Outflow) from Financing Activities (61) 1236 (1297) 104.94% Positive Net Increase (decrease) during the year 72 (181) 253 139.78 Positive If we look at the cash inflow from operation of the company we can say that the company cash position has reduced from last year. So this part is slightly negative for the company. On the other hand the company has shown a tremendous increase in the Cash flow from investing activities. This is a big positive for the company in comparison to the last year. Thirdly the company is progressing financially also. It has not taken loans from other companies and hence the company is not increasing its long term liabilities. Thus the overall cash flow in the current year has been positive which shows that the cash position of the company is very good and improving very fast. (McClure n.d.) Analysis of the Shareholders Equity of the Company- (Part A5) Figures in $ million Particulars As on 30.06.2014 As on 30.06.2013 Absolute Difference % Increase/ (decrease) Shareholders Equity Balance 7707 10002 (2295) (22.95%) Number of Outstanding Shares 766165794 765607049 558745 .073% Note: The difference of 558745 numbers of shares represents the companys share based plan and the rights applied in course of this plan. This also relates to executive service agreements. Conclusion: Finally in conclusion we can say that the companys performance has increased from last year financially as well as operationally. The company is having a turnaround in its operation from the last year and the company is a good investment opportunity. The facts and the figures demonstrate a huge growth in the company in the coming times leading to solution to the investors for growth and opportunity in the long run. The growth of the equity wealth helps the investors to understand the growth of the company and also the interest of the stakeholders are not sacrificed. Part B Case Study Analysis of the given case: An offer has been received from the organizers of Melbourne Tennis Open 2015. Premium tickets will be purchased by us from these organizers bearing the signatures of the greatest and popular tennis players like Rafael Nodal, Roger Federer, etc. There are only 300 tickets of these features. The Retail Sale Price of the Ticket is $300 each The price for the tennis club members is at a discount. The price being $280 each. Delivery Time 5 days. Required Answers to Questions: 1. The organizers have to recognize the revenue of the tickets sale to us but they have two options of recognizing the revenue. One is two record the revenues at the time they transfer those tickets or to defer the recognition until the delivery is made. The recognition of the revenue is linked with the transfer of the rights and ownership of the tickets to the buyers. The important thing here is that the delivery shall be assumed as the final event of transfer of ownership and the rights to the customer. Hence the recognition of the revenue shall be made at the confirmation of the delivery to the buyers place. 2. If there is a clause in the tickets which mentions that the customers can return their tickets if they find themselves not satisfied with the event, then the previous experience of the company shall be taken into consideration. If according to the previous experience of the company there were 10% returns, then the 90% of the revenue shall be recognized immediately after delivery to the buyer and the remaining 10% shall be deferred for one month. 3. In this case the organizers are contracting to hire a selling agent who will purchase all the tickets immediately from the organizers and the policy states that there will be no return and no exchange of the tickets. Hence in this case there will be no delivery time involved. The revenue shall be recognized when the selling agents purchases the ticket from the organizers. 4. Authenticity of a signature can be assured with the help of the accountancy profession. Here it is important to know the importance of the digital signatures. A digital signature is the soul signature of the person signing it and it cannot be forged. It has a password and it is protected by means of it. Thus we can say that the authenticity of the actual signature of the popular sports personalities can be given with the help of the Digital Signature of these sport personalities which are regulated by authorised bodies. 5. The cost of goods sold is important here because ultimately every financial statements comprises of the cost of goods sold. We need to disclose the cost of sales separately in the financial statements every year. A cost of goods sold in this case shall be calculated by applying the general principles. The costs which are directly related with the sales shall be included in the figure of the cost of goods sold. The direct sales costs are cost of printing tickets, fees given to the popular tennis players, the rent of the stadium or the event auditorium, etc. 6. Since the organizers are aware of the fees in advance, the same is known event. There is no uncertainty with the fees. Therefore the organizers shall recognize the revenue immediately after successful delivery of the tickets.(Sriyra n.d.) 7. In this case it is mentioned that the signatories will be getting a fee of 5% on the sale of tickets bearing their signatures. So the event is depending on the sale of the tickets containing the signatures of the popular players. Hence it can be concluded that first we need to compute the amount of tickets sold with signature and without signature. There will be separate recognition of amount of the two types of tickets but there will be no difference in the timing of the revenue recognition. The revenue shall be recognized immediately after the successful delivery of the tickets.(Street n.d.) References Works Cited Sriyra. https://www.futurpreneur.ca/en/resources/operational-and-financial-planning/articles/cybf-article-financial-analysis-and-the-effective-operation-of-your-company/. https://www.futurpreneur.ca/en/resources/operational-and-financial-planning/articles/cybf-article-financial-analysis-and-the-effective-operation-of-your-company/. Street. https://www.streetofwalls.com/articles/investment-banking/recruiting-interviewing/comparative-company-analysis/. https://www.streetofwalls.com/articles/investment-banking/recruiting-interviewing/comparative-company-analysis/.

Perjury Essay Example

Perjury Essay Perjury is the â€Å"willful and corrupt taking of a false oath in regard to a material matter in a judicial proceedings. † It is sometimes called â€Å"lying under oath† i. e. , deliberately telling a lie in a courtroom after having taken an oath to tell the truth. It is important that the false statement be material to case at hand, means that false statement could effect the outcome of the case. It is not considered perjury, for example : to lie about age unless age is a key factor in proving the case. Perjury can be used as a threat. Although, perjury is a very serious crime under state and Federal laws, and while prosecutors often threaten prosecution, the member of actual prosecution for perjury is tiny. The prosecution of perjury stemming from civil law suits are particularly call. This is because it is difficult to prove that someone is intentionally misstating a material fact, rather than simply testifying honestly from faulty memory. Perjury also known as Forswearing, which means willful act of swearing a false oath or affirmation to tell the truth weather spoken or in writing concerning matters material to a judicial proceedings. Means, the witness falsely promises to tell the truth about matters which affect the outcome of the case, for example: that is not considered perjury to lie about ones age unless, age is a a factor in determining a legal result. Perjury is considered a serious offense as it can be used to usurp the power of the courts, resulting in miscarriage of justice. PERJURY IN INDIA Under the Indian Penal Code (IPC), section 191 defines perjury as â€Å"giving false evidence† and by interpretation it includes the statements retracted later as the person is presumed to have given a â€Å"false statements† earlier r later,whom the statement is retracted. Section 191 of IPC states perjury as: whoever, being legally bound by an oath or by any express provision of law to state the truth, or being bound by law to make a declaration upon any subject, make any statement which is false, and which he either knows or believes to be false evidence. Statements of interpretation of fact are not perjury because people often make inaccurate statement. Individuals may have honest but mistaken beliefs about certain facts, or their recollection may be inaccurate. We will write a custom essay sample on Perjury specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Perjury specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Perjury specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Like most other crimes in the common law system, to be convicted of perjury one must have had the intention [Mens Rea] to commit the act, and to have actually committed the act [Actus Reus]. Subordination of perjury, attempting to include another person to perjure themselves, is itself a crime. WHY IT IS A CRIME? Perjury is a crime because a witness swears, or affirms to tell the truth and, for the credibility of the court, witness testimony must be relied on as being truthful. The rule of perjury also apply when a person has made a statement under penalty of perjury, even if the person has not been sworn as affirmed as a witness before an appropriate official. DEVELOPMENT OF PERJURY IN INDIA Two developments in two sensational criminal cases. The Best Bakery Case, relating to the Gujarat Communal Rights. Jessica Lals Murder Case. The Best Bakery Case and murder case of Model Jessica Lal, have brought into sharp focus the issue of â€Å"perjury† defined in Indian penal laws as â€Å"giving false evidence†. While the Bombay Special Trail Court in the Best Bakery Case has issued notices to Zaheera Sheikh for â€Å"Perjury† or â€Å"flase evidence† as she had retracted her statement several times, the Delhi High Court has Suo Motu, taken cognizance of the police (prosecution) theory on â€Å"Hostile Witness† in the Jessica Lal Murder Case. Both the cases demonstrate that time has come in India to strictly enforce the law relating â€Å"perjury† or â€Å"false statement†, which would go a long way in future criminal cases. For a persons statement an oath, testimony, and in sworn affidavit is regard as truth are vital evidence on which judicial decisions are made. The high rate of acquittals in India in criminal cases are mainly due to witnesses turning hostile. The criminality of â€Å"buying† the witnesses by the influential who find themselves in the dock can be handed only by strictly enjoying the penal law on perjury. The allegation that, Zaheera Sheikh took money to retract her statement is open to judicial scrutiny. Witnesses turning hostile in several cases take not only the courts for a __ but Justice itself. Zaheera Sheikh is not a only example of someone allegedly having committed â€Å"perjury† there are majority of cases in which witnesses give false evidence or retract their statements at a later stage, which results in the accused being acquitted. If the Indian courts started taking action against falsehood the case of perjury would outnumber all other categories of cases. But the Best Bakery Case, as indeed the Jessica Lal Murder Case, have become high profile and are therefore being highlighted and discussed in detail. Under section 191, of the Indian Penal Code, perjury is defined as â€Å"giving false evidence†. The person is prosecuted to have given false statement at some point, but hardly anyone, including legal experts, can recall a single case before Best Bakery Case and the Jessica Lal murder case in which a person was prosecuted for making a false statement before the court. Under section 191 of the IPC, an affidavit is evidence and a person swearing to a false affidavit is guilty of perjury, which is punishable of imprisonment which may extend to seven years. However, action against making a false statement should be initiated during the trial itself and not after it has concluded, this may serve as a deterrent to persons who intentionally mislead the court or make false statements under oath or file tainted affidavits much against the public good and fair trial. Late initiation of an action often causes perjury cases to go completely unnoticed, it becomes one more case dragging on for years. ZAHEERA HABIBULLAH H. SKEIKH AND OTHERS. V. STATE OF GUJARAT AND OTHERS (BEST BAKERY CASE) The Best Bakery Case was a legal case involving the burning down of the Best Bakery on March 1, 2002, in Vadodra, India. The incident which resulted in the deaths of 14 people (including 12 muslims) has came to symbolize the carnage and the alleged complicity of the state government during the 2002 Gujarat violence. The Best Bakery Case, was small outlet in the Hanuman Tekri area of Vadodra which was burned down in communal riots. This attack was part of the 2002 Gujarat violence sparked by the Godhra train burning incidence, in which 58 â€Å"Karsevaks† were burnt to death. The day after the attack, Zaheera Sheikh filed the First Information Report (FIR). Zaheera was a key and notable witness. PERJURY UNDER THE BEST BAKERY CASE: The prosecution declared Zaheera Sheikh to be a hostile witness. A tape by Tehalka claimed that Zaheera had been bribed by an MLA Masjilis-e-Shura, an apex decision making bodies of muslims, consequently declared Zaheera Sheikh, as a â€Å"dissembler† effectively ousting her from the muslim community. The organization stated its reason that Zaheera was â€Å"tarnishing communitis image by making false statements†. Zaheera was sentenced by the Supreme Court of India, 1 Year imprisonment for perjury in the murder, after being found guilty of lying by the court, with fine Rs. 50,000. The judgment called landmark judgment brought the case to an end. The case has the legacy of being â€Å"one of the countrys most controversial and high profile trials†. In the US, Perjury law applies to all material statements or information provided under oath to a competent tribunal, officer or person, in any case in which a law of the United States authorizes an oath to be administered. The Indian position too is almost similar as section 191 makes it clear that â€Å"whoever being legally bound by an oath†, makes a statement which is false, that person is said to have given false evidence. But an application, it lies with the prosecution, which is not as effective in India, as it is in the US. Unlike in the US, which divides perjury into three categories, in India perjury encompasses statement, material or any other form of evidence. The use of false and inconsistent material also fall under the category of â€Å"perjury†. For instance in Jessica Lal Murder Case, it has to be seen whether the â€Å"Sudden invention of two weapons† having been used constituted false material. In Zaheera Sheikhs case it is her inconsistent declarations and retractions. Both the cases have underscored the need for using the existing law against perjury in all criminal trials and as Justice V. N. Khare, former Chief Justice of India observed, it is high time that the perjury law is strictly enforced by all the courts concerned. As he put, â€Å" If there is will, the country could be zero crime zone. †

Gertrude Stein Quotes

Gertrude Stein Quotes American expatriate writer, her Paris home was a salon for artists and writers between the two World Wars. She lived with her companion Alice B. Toklas from 1912 until her death. Selected Gertrude Stein Quotations It takes a lot of time to be a genius, you have to sit around so much doing nothing, really doing nothing. Everybody gets so much information all day long that they lose their common sense. Paris was the place that suited us who were to create the twentieth century art and literature. A diary means yes indeed. When they are alone they want to be with others, and when they are with others they want to be alone. After all, human beings are like that. Artists do not experiment. Experiment is what scientists do; they initiate an operation of unknown factors to be instructed by its results. An artist puts down what he knows and at every moment it is what he knows at that moment. It is funny the two things most men are proudest of is the thing that any man can do and doing does in the same way, that is being drunk and being the father of their son. The Jews have produced only three originative geniuses: Christ, Spinoza, and myself. In the United States there is more space where nobody is than where anybody is. This is what makes America what it is. Americans are very friendly and very suspicious, that is what Americans are and that is what always upsets the foreigner, who deals with them, they are so friendly how can they be so suspicious they are so suspicious how can they be so friendly but they just are. Communists are people who fancied that they had an unhappy childhood. Let me listen to me and not to them. The minute you or anybody else knows what you are you are not it, you are what you or anybody else knows you are and as everything in living is made up of finding out what you are it is extraordinarily difficult really not to know what you are and yet to be that thing. We are always the same age inside. Any one doing something and standing is one doing something and standing. Some one was doing something and was standing. Any one doing something and standing is one doing something and standing. Any one doing something and standing is one who is standing and doing something. Some one was doing something and was standing. That one was doing something standing. I do want to get rich, but I never want to do what there is to get rich. Silent gratitude isnt very much use to anyone. The composition is the thing seen by everyone living in the living they are doing, they are the composing of the composition that at the time they are living is the composition of the time in which they are living. I like a view but I like to sit with my back turned to it. A vegetable garden in the beginning looks so promising and then after all little by little it grows nothing but vegetables, nothing, nothing but vegetables. Money is always there but the pockets change. The thing that differentiates man from animals is money. If you can do it then why do it? The nineteenth century believed in science but the twentieth century does not. It is the soothing thing about history that it does repeat itself. Rose is a rose is a rose is a rose. Explore Womens Voices and Womens History Womens Voices - About Womens QuotesBiographiesToday in Womens History About These Quotes Quote collection assembled by Jone Johnson Lewis. Each quotation page in this collection and the entire collection  © Jone Johnson Lewis. This is an informal collection assembled over many years. I regret that I am not be able to provide the original source if it is not listed with the quote. Citation information:Jone Johnson Lewis. Gertrude Stein Quotes. About Womens History. URL: http://womenshistory.about.com/od/quotes/a/gertrude_stein.htm . Date accessed: (today). (More on how to cite online sources including this page)

Synonyms for Trés

Synonyms for Trà ©s If you want to make your French sound more authentic, one place to start is with your vocabulary. In French classes, you tend to learn the most common, basic terms. The adverb trà ¨s is one example of a very common word that can be replaced by any of a number of synonyms, in both normal and informal registers. Take a look at this lesson to learn some different ways to say very, and be sure to note the differences in intensity. Each section includes the synonyms used in a sentence in French followed by the English translation of the sentence. Tres, Assez, and Bien Use trà ¨s  when you want to emphasize something. You can use trà ¨s  in front of adjectives, adverbs, and even certain nouns, such as those that refer to feelings but use  avoir- to be. Il est trà ¨s intelligent.   He is very smart.Jai trà ¨s faim.  Ã‚  I am very hungry. Use  assez, which translates as quite or rather, when your meaning is more nuanced.   Je suis assez fatiguà ©.   Im rather tired.La situation est assez inquià ©tante.   The situation is quite worrisome. Bien, which translates as very or quite, also provides a more nuanced meaning, as these examples show: Cest bien simple.   Its quite simple.Nous sommes bien contents.   Were very happy.Tenez-vous bien droit.   Stand up very straight. Going Beyond Very French has several synonyms for  trà ¨s  that create a greater emphasis than simply saying very, including the French adverbs for exceptionally, extraordinarily, extremely, and others as these examples show: Exceptionnellement   exceptionally Cà ©tait exceptionnellement difficile.   It was exceptionally difficult.La situation est exceptionnellement complexe.   The situation is exceptionally complicated. Note that exceptionnellement is a semi-false cognate, as it can also describe something as an exception to the norm, as in: Exceptionnellement, je vous en parlerai Just this once I will talk to you about it. Extraordinairement extraordinarily Elle est extraordinairement anxieuse.   She is extraordinarily anxious.Il a des cheveux extraordinairement frisà ©s.   He has extraordinarily curly hair. Extraordinairement can also mean in a bizarre way, as in:   Elle est và ªtue extraordinairement. She is dressed very strangely. Extrà ªmement extremely Il est extrà ªmement beau.   He is extremely handsome.Elle est extrà ªmement intelligente.   She is extremely intelligent. Fort most, veryThis use is formal and somewhat old-fashioned. Jen serais fort content   I would be most pleased about that.Cest une histoire fort triste.   Its a very sad story. Hautement highly, very Il est hautement qualifià ©.   He is highly qualified.Ce livre est hautement recommandà ©.   This book is highly recommended. Infiniment infinitely, immensely Je vous suis infiniment reconnaissant.   I am infinitely grateful (to you).Cette pià ¨ce est infiniment longue.   This play is immensely long. Tout   quite, very Je suis tout à ©tonnà ©.   Im quite surprised.Il est tout rouge.   Hes all/very red. Tout fait - completely, totally Cest tout fait normal.   Its totally normal.Je suis tout fait daccord.   I agree completely. Trop too, very Vous à ªtes trop aimable.   You are too kind.Elle est trop mignonne.   She is too cute. Note that trop technically means too rather than very, but it can be used like too in English when it means so very rather than excessively. Other Synonyms French offers a surprising variety of synonyms for  trà ¨s.  If you want to spice up your French a bit, check out the following ways to say very in this Romance language. Vraiment really, very Je suis vraiment fatiguà ©.   Im really tired.Elle est vraiment belle.   She is really beautiful. Bougrement  -  terribly,  really Tu vas bougrement vite.   Youre going terribly fast.Cette classe est bougrement difficile.   This class is really/bloody difficult Drà ´lement  Ã‚  awfully,  terribly,  really Ton film est drà ´lement bon.   Your movie is awfully good.Cest drà ´lement difficile.   Its really difficult. (UK) It isnt half difficult. Follement   incredibly Cà ©tait follement intà ©ressant.   It was incredibly interesting.Il est follement amusant.   He is really very funny. Hyper  Ã‚  really,  mega Elle est hyper sympa, cette nana.   That girl is really nice.Cest hyper important.   Its mega important. Joliment  Ã‚  really On est joliment bien ici. Were doing really well here; This is a really good place/situation for us.Il à ©tait joliment en retard.   He was really late. Rudement  Ã‚  really,  terribly Ton chapeau est rudement moche.   Your hat is really ugly.Cest rudement bon que...   Its really good that... Vachement  Ã‚  really, (UK)  bloody Cest  vachement  difficile!   Its really/bloody difficult!Cest vachement important pour moi.   Its really important to me.

Analyzing sports in Latin America Essay Example | Topics and Well Written Essays - 1250 words

Analyzing sports in Latin America - Essay Example Strictly speaking the region encompasses many different people from different ethnic and cultural backgrounds. Although some people would argue that the continent has been dominated by Spanish and Portuguese colonization, many successive waves of immigrants from various parts of Europe, Asia and Africa has made a significant impact on the continent. For example Nestor Kirchner (The former president of Argentina) was of German descent, and Alberto Fujimori (The former President of Peru) was of Japanese descent. This has played a significant role in the impact of sports in Latin America insofar as people tended to bring their own cultural traditions with them when emigrating to Latin America. For example cricket (A sport which was created by the British) plays a more domineering role in the Falkland Islands, and baseball plays a more important role in the Dominican Republic (A nation with some historic ties with the United States). Physical geography plays a significant role in the impact of sport in Latin America because the continent is extremely diverse. FIFA had a temporary ban on international matches stadiums at high altitudes which made it difficult for nations like Bolivia. Moreover, nations that have access to lakes and oceans are more likely to engage in paddling sports than those that are landlocked. For the purpose of this paper the major sports that will be discussed are soccer (football), baseball, and basketball. Without question, soccer plays a significant role in Latin America. Although the sport is likely played across the entire continent some nations have become international powerhouses. Argentina is a nation that not only performs well in international competitions (Such as the World Cup) but has also give us some of the most memorable players. Diego Maradona is a player who came from humble roots in Buenos Aires yet is remember for two major goals during his career â€Å"The goal of the Century† and the â€Å"Hand of God† goal. Just after the completion of the Falkland war Argentina and England came face to face at the 1986 FIFA World Cup Quarter Final. The first half of the game was scoreless yet in the first few minutes of the second half, an English player tried to clear the ball yet accidentally hooked it towards the English goalkeeper. At this point Maradona jumped , screeching through the air with his fist extended which came into contact with the ball which went into the goal. The referee never saw the infraction and the English. However just a few minutes later Maradona ran at full steam for over sixty meters, blazing past five English defenders and ran 'dribbled' the ball around the English goalkeeper to score the goal that the English could not return. Although Argentina went on to win the World cup, it was often stated that beating England was more important as it satisfied their revenge for the Falkland war. Although some soccer players ar e relatively unknown in the United States they are often more popular than movie stars in their own country. Player such as Lionel Messi (Argentina) Ronaldinho (Brazil), Marcelo Salas (Chile), or Cladio Pizarro (Peru) are all international celebrities. Soccer plays a significant role in South American sports but it is by no means the only Sport. In nations such as the Dominican Republic, Cuba and Venezuela

Corporate finance - WACC - Cash Flow - Measuring Return on Investment Assignment

Corporate finance - WACC - Cash Flow - Measuring Return on Investment - discounted cash flow techniques - Financing Decisions - - Assignment Example Accounting earnings are obtained from the income statements prepared in accordance with the applicable accounting standards and frameworks, whereas cash flows are determined as the cash inflows and outflows generated from a certain project. There are some major factors, which constitute the differences between the accounting earnings and cash flows, such as: 1. Operating and Capital Expenditures Operating expenditures are considered as those expenses, which are directly linked with the revenues such as direct material, direct labor, overheads etc. Conversely, capital expenditures are those expenditures, which are incurred by the firm in order to develop the business infrastructure, e.g. purchasing a building, land, equipment etc. Under accounting earnings, operating expenditures are included in arriving at the final net income figure. However, capital expenditures are spread over the useful lives of those assets and then systematically depreciated. Under cash flow estimations, both o perating and capital expenditures are included in order to analyze the overall viability of the project. In short, the mainstream difference between the accounting earnings and cash flows is the exclusion of capital expenditures from the accounting earnings but its inclusion in cash flows. 2. ... However, due to low taxable income, the amount of tax is reduced substantially, which is in fact cash based expenditure. Under cash flow approach, depreciation, amortization and other non-cash expenses are not included, but the tax savings due to such non-cash expenses are included which lead to better cash flows. In short, non-cash expenses in deriving accounting earnings but they are excluded in cash flow approach. However, tax benefits are included as cash inflow in cash flow based approach. 3. Accrual versus Cash conventions Accounting earnings are purely established because of the relevant accounting standards and frameworks, such as GAAP and IFRS. These standards require the firms to draft their financial statements by utilizing accrual basis of accounting. Accrual basis of accounting states that, expenditure should be recognized in the financial statements in the period in which it is incurred, not in the period in which it is paid. Similarly, revenue is recognized in the fina ncial statements in the period in which it is earned, not in the period in which it is received. On the other hand, cash flow approach works on the principle of cash inflows and outflows in the periods in which they are received and paid. Therefore, the major difference between accounting earnings and cash flows is the accrual versus cash based conventions, which lead to material differences between the amounts of returns obtained under both approaches. B. INCREMENTAL VERSUS TOTAL CASH FLOWS In order to analyze the return on investment, another important way to analyze is to look whether the whole firm is benefitted from that piece of investment or not. Obviously, a firm is benefitted from the cash