How using Microsoft Excel helped you with this process Essay

How using Microsoft Excel helped you with this process - Essay Example With this, we can easily find the name of the customer, the amount, the invoice number or the receipt number that corresponds to the amount that will be disbursed. Moreover, if the firm wishes to maintain a minimum cash balance, it can easily be controlled with the help of Excel. It is for the reason that with Excel, the amounts are already shown and the formula can always be fixed. So with just a simple click and simple encoding of amounts, you do not have to worry about the accuracy of the balances anymore. Next to disbursements is the cash receipt. Likewise, it also forms part of the financial statements and it is a vital operation in the company. A firm cannot just disburse cash without getting something to replace it with. And this is where the receipts enter. Cash disbursements and cash receipts are the two important factors that make up the budgetary system. And without the balance for the both, the firm could face a huge problem. And the use of Excel in maintaining the cash receipts record is a good way to avoid this problem. The cash being received by the firm can be entered initially on the Excel and as time passes by, the firm need not to worry about the total amount that they have received during say, a month or a week. The Excel can do that on its own. And it is really helpful especially to the bigger firms. Likewise, the ability to maintain a systematic record and to find the needed file is another advantage of using the Excel in formulating accounting records. The very essence of preparing a financial statement is to show how the firm is operating – whether it operates very well or not. And so the check and balance scenario is commonly used in preparing the financial statements. Figures are needed to be balanced in order to finalize the financial statements. Excel can also be a tool in achieving this scenario. Mittal (2010) stated that the financial statements are collectively presented

An Introduction To Logic Gates Essay

An Introduction To Logic Gates Essay Logic circuit is one that behaves like a switch, i.e. a two-positive devise with ON or OFF states. This is termed as binary device, in which the ON state is represented by 1 and the OFF state by 0. We require devising a logic statement which can be expressed in only one of two forms. For instance As you may know, computers store information in gigabytes, megabytes, and so on. The fundamental unit of storage is the bit or binary digit, which is similar to a switch. Like a switch, which has two states on or off, the bit has two states 1 and 0 (sometimes represented as true and false. We use this abstraction to represent numbers with the binary number system. In order to perform calculations, the computer manipulates bits by means of logical operations, which use inputs to yield a particular output based on the input bits states. To explicitly define the logic, we use truth tables which express the outputs in terms of all combinations of inputs. Examples of truth tables for logical operations are given below: Logical AND (i.e. A.B=C) Logical OR (i.e. A+B=C) Logical NOT (i.e. A) A useful way of representing these logical operations is by means of logic gates, which are pictorial representations of the logic. The most basic logic gates, which illustrate the Boolean logic of the above truth tables, are AND logic gate C=A.B OR logic gate C=A+B NOT logic gate B=A Using the logic gates above, we can create schematics of more complicated circuits. These combinational logic circuits involve feeding the output of one gate to the input of another gate. This allows us to create useful circuits that function according to our needs. Examples are provided below: F=X.Y.Z F=X+Y+Z F=X+Y.Z We probably know that calculators and computers store decimal (0-9) numbers as long strings of zeros and ones in a form called binary code. Each number is stored using microscopic electronic switches called transistors. Its easy to store binary numbers simply by switching transistors on and off. Switching on a transistor stores a number one; switching it off stores a zero. So storing numbers is easy. But how can you add, subtract, multiply, and divide using nothing but electric currents? Calculators and computers do these using clever electronic circuits called logic gates. Fig:1.1 Photo: A gate can keep we out or let we into a field. In the same way, a microscopic logic gate is a barrier in an electronic circuit that can let electricity through or stop it flowing altogether. Put lots of logic gates together and you make a machine thats capable of basic mathematical reasoning. TYPES OF LOGIC GATES: Logic gates: circuits that compare A logic gate might sound horribly complex, but its simply an electric circuit with two inputs and an output. It receives two incoming electric currents, compares them, and sends on a new, outgoing electric current depending on what it finds. A logic gate is a bit like a doorman or bouncer who is allowed to let people into a nightclub only if they pass certain tests. There are quite a few different types of logic gate, the most common of which are called AND, OR, NOT, XOR (Exclusive Or), NAND (NOT AND), and NOR (NOT OR). Lets look at the three simpler ones, AND, OR, and NOT: AND Suppose we went to a nightclub where the doormans job is to enforce a simple rule: Everyone in our group must wear a tie to come in. We went along with a friend one night. If were both wearing ties, youll get in. If only one of we is wearing a tie, or if neither of us is, neither of you will get in. An AND logic gate works the same way with two electrical inputs. If both inputs are switched on (that is, carry a number 1), the output will be 1 as well. Otherwise the output will be 0. In electronics, we can represent an AND gate with this little symbol. Three ways in which the gate can work are shown below. OR Were not wearing a tie, so you go to another club further down the street. Here, the person on the door is enforcing a different rule: A group of people can come in if any one of them is a member. If either we or our friend is a member, or if you both are members, we can both come in. If neither of we is a member, youre both left out in the cold. An OR logic gate works this way with two electrical inputs. If either input is switched on (that is, carries a number 1), the output will be 1 as well. Otherwise the output will be 0. In electronics, we represent an OR gate with a different symbol. Three ways in which it can work are shown beneath: NOT So far, weve failed to get into either of the clubs. But theres one last hope: you know a friend is having a party a few streets away. The only trouble is, theres a really argumentative and contrary person on the door. He talks to each person in turn as they approach him. If youre nice and polite, he shouts abuse at you and turns you away. But if youre rude to him, he likes that for some reason and lets you in. In other words, he does exactly the opposite of what youd expect! In electronics, theres a logic gate that works in the same, contrary way and its called a NOT gate or invertor. Unlike AND and OR gates, it has only one input and one output. The output is exactly the opposite of the input, so if the input is a 0, the output is a 1 and vice versa. Heres how we represent a NOT in electronics. Two ways it can work are shown beneath. The other three common logic gates are variations on these three. XOR (Exclusive OR) is like an OR, but it switches off if both the inputs are switched on. NAND is just like AND, only the end result is swapped over (so where AND produces an output of 1, NAND produces an output of 0). NOR is like OR with the end result swapped over in the same way. Calculators can do all the things they need to do using different combinations of logic gates. Its logic gates that control how the display works in a calculator and more logic gates that figure out the results of calculations. Lets take a closer look NAND gate This is a NOT-AND gate which is equal to an AND gate followed by a NOT gate. The outputs of all NAND gates are high i any of the inputs are low. The symbol is an AND gate with a small circle on the output. The small circle represents inversion.   NOR gate This is a NOT-OR gate which is equal to an OR gate followed by a NOT gate. The outputs of all NOR gates are low if any of the inputs are high. The symbol is an OR gate with a small circle on the output. The small circle represents inversion.   EXOR gate The Exclusive-OR gate is a circuit which will give a high output if either, but not both, of its two inputs are high. An encircled plus sign () is used to show the EOR operation. EXNOR gate The Exclusive-NOR gate circuit does the opposite to the EOR gate. It will give a low output if either, but not both, of its two inputs are high. The symbol is an EXOR gate with a small circle on the output. The small circle represents inversion. The NAND and NOR gates are called universal functions since with either one the AND and OR functions and NOT can be generated. Note: A function in sum of products form can be implemented using NAND gates by replacing all AND and OR gates by NAND gates. A function in product of sums form can be implemented using NOR gates by replacing all AND and OR gates by NOR gates. IMPLEMENTATION OF LOGIC GATES FIG: 1.2 130 ELECTRONIC CALCULATOR   The Friden 130 uses diode-resistor OR and AND logic gates, with transistor-based inverter, buffer, and flip-flop devices. It performs math operations in bit-serial form, using the magnetostrictive delay line as the medium for storing its working registers. Logic levels are 0 Volts representing logic 1, and -12 Volts (nominally) representing logic 0. The delay line input transducer is driven with a pulse of approximately 20V, and by the time the signal makes it to the other end of the delay line, the voltage induced in the transducer is approximately 35mV, or 35/1000ths of a volt. Digits are stored within the delay line as a series of pulses arranged in groups for each digit. Zero pulses represent a zero, and nine pulses represent a nine, with the numbers in-between represented by a number of pulses matching the number. As the pulses exit the delay line, they are amplified and fed into the counters (the A and/or D counters), which count the number of pulses in the digit to form a uniq ue five-bit identifier that represents the number. The counter registers are not configured as counters in the usual binary sense. They are instead configured as five stage switch-tail shift registers, such that they count in a sequence of shifting 1s. For example; 0 is represented as 00000; 1 as 10000; 2 as 11000; 3 as 11100; 4 as 11110; 5 as 11111; with 6 as 01111, and ending with 9 as 00001. With five flip flops, each counter can represent the numbers zero through nine as unique combinations of bit patterns. In terms of applying logic gates to real world applications, many gates can be used in Figure1`.3CEP-1114 Piezo Buzzer Frequency processing. For example, when dealing with piezo audio transducers such as the CEP-1114, an oscillating frequency signal is require to produce a sound pattern from the buzzer.   Figure 3: AND gate signal output wave generator such as an oscilloscope or a programmed PIC must be logically processed with a second frequency signal to create a combination of high/low outputs which will turn the Buzzer on and off creating a sound pattern. So if you used a Square-wave signal from a PIC as one input into an AND gate and a second varying frequency as the other input, it is proven due to AND gate logic that when both signals are high the buzzer will produce a sound, and any other combination will turn the buzzer off. Furthermore, as you can see from Figure 3 on the left, the output is only high when both Input A and Input B are high. If Input B was changed or altered, this would alter the output signal sent to the buzzer. Imagine that Input B was stretched so that only one period was observed in the time give rather than two periods. This would extent the time that Input B is high and would increase the time that the output is high. Additionally, if variation of the waveform inputs is difficult or impossible, variation of the output can still be accomplished by simply changing the logic gate implemented. If the AND gate currently being used was replaced with a NAND gate, the output would be completely reversed. Every time the output was high using the AND gate will now be low, and every time the output was low will now be high. Conclusion Logic gates come in all shapes and sizes, and whether they are used in combinations or individually, they provide the user with many options and solutions to problems which may appear difficult at first. Furthermore, these seven basic logic gates ease the complexity of Boolean algebra and allow for simple application in electronics and circuit analysis. These gates can be used in almost any situation such as comparison of frequencies when developing filters in communication or in more mechanical settings when using choppers and inverters which compare input and output currents to determine modulating indexes. Figure 2: CEP-1114 Piezo Buzzer FLIP FLOPS Flip flops are actually an application of logic gates. With the help of Boolean logic you can create memory with them. This is the most basic idea of a Random Access Memory [RAM]. If the logic gates are designed correctly, they will be helpful in remembering the input value given to them. A higher application of flip flops is helpful in designing better electronic circuits. The main use of flip flops is the implementation of a feedback circuit. As a memory relies on the feedback concept, flip flops can be used to design it. Given below is a simple feedback circuit using two inverter logic gates. Take a look. Though this circuit is not good for practical electronic circuits, it will help you to get a clear idea on what a feedback circuit is. When the value of the output Q happens to be 0, it always remains 0. If the output happens to be 1, it always remains 1 There are mainly four types of flip flops that are used in electronic circuits. They are The basic flip flop or S-R Flip Flop Delay Flip Flop [D Flip Flop] J-K flip flop T flip flop 1. S-R Flip Flop The SET-RESET flip flop can be designed with the help of two NOR gates and also two NAND gates. These flip flops are also referred to as S-R Latch. S-R Flip Flop using NOR Gate The flip flop has mainly two inputs, called the SET [S] and RESET [R]. There are also two outputs, Q and Q. The diagram and truth table is shown below. S-R Flip Flop using NOR Gate From the diagram it is evident that the flip flop has mainly four states. They are S=1, R=0-Q=1, Q=0 This state is also called the SET state. S=0, R=1-Q=0, Q=1 This state is known as the RESET state. In both the states you can see that the outputs are just compliments of each other and that the value of Q follows the value of S. S=0, R=0-Q Q = Remember If both the values of S and R are switched to 0, then the circuit remembers the value of S and R in their previous state. S=1, R=1-Q=0, Q=0 [Invalid] This is an invalid state because the values of both Q and Q are 0. They are supposed to be compliments of each other. Normally, this state must be avoided. S-R Flip Flop using NAND Gate The circuit of the S-R flip flop using NAND Gate and its truth table is shown below. S-R Flip Flop using NAND Gate Like the NOR Gate S-R flip flop, this one also has four states. They are S=1, R=0-Q=0, Q=1 This state is also called the SET state. S=0, R=1-Q=1, Q=0 This state is known as the RESET state. In both the states you can see that the outputs are just compliments of each other and that the value of Q follows the compliment value of S. S=0, R=0-Q=1, Q =1 [Invalid] If both the values of S and R are switched to 0 it is an invalid state because the values of both Q and Q are 1. They are supposed to be compliments of each other. Normally, this state must be avoided. S=1, R=1-Q Q= Remember If both the values of S and R are switched to 1, then the circuit remembers the value of S and R in their previous state. Clocked S-R Flip Flop It is also called a Gated S-R flip flop. The invalid state can only be removed by using a bistable SR flip-flop that can change outputs when certain invalid states are met regardless of the condition of either the Set or the Reset inputs. For this, a clocked S-R flip flop is designed by adding two AND gates to a basic NOR Gate flip flop. The circuit diagram and truth table is shown below. Clocked S-R Flip Flop A clock pulse [CP] is given to the inputs of the AND Gate. In the beginning the outputs of both the AND Gates remain 0 until the value of CP is 0. When a pulse is given the value of CP turns 1. This makes the values at S and R to pass through the NOR Gate flip flop. But when both the S and R values turn 1, the HIGH value of CP causes both of them to turn to 0 for a short moment. As soon as the pulse is removed, the flip flop state becomes intermediate. Thus either of the two states may be caused, and it depends on whether the set or reset input of the flip-flop remains a 1 longer than the transition to 0 at the end of the pulse. Thus the invalid states can be eliminated. 2. D Flip Flop The circuit diagram and truth table is given below. D Flip Flop D flip flop is actually a slight modification of the above explained clocked SR flip-flop. From the figure you can see that the D input is connected to the S input and the complement of the D input is connected to the R input. The D input is passed on to the flip flop when the value of CP is 1. When CP is HIGH, the flip flop moves to the SET state. If it is 0, the flip flop switches to the CLEAR state. To know more about the triggering of flip flop click on the link below. TAKE A LOOK :  TRIGGERING OF FLIP FLOPS TAKE A LOOK :  MASTER-SLAVE FLIP FLOP CIRCUIT 3. J-K Flip Flop The circuit diagram and truth-table of a J-K flip flop is shown below. J-K Flip Flop A J-K flip flop can also be defined as a modification of the S-R flip flop such that it is a refinement at the indeterminate state of the SR flip flop. The inputs J and K behave just like the S and R inputs of the S-R flip flop. The letter J stands for SET and the letter K stands for CLEAR. When both the inputs J and K have a HIGH state, the flip-flop is designed to switch to its complement state. So if the value of Q was 1, it switches to Q=0 and if the value of Q was 0 it switches to Q=1. Two 3-input AND Gates are used in the circuit. The output Q of the flip flop is given as a feedback to the input of the AND along with other inputs like K and clock pulse [CP]. So, the flip flop gets a CLEAR signal when the value of CP is 1 only if the value of Q was earlier 1. Similarly output Q of the flip flop is given as a feedback to the input of the AND along with other inputs like J and clock pulse [CP]. So the output becomes SET when the value of CP is 1 only if the value of Q was earlier 1. The output may be repeated in transitions once they have been complimented for J=K=1 because of the feedback connection in the JK flip-flop. This can be avoided by setting a time duration lesser than the propagation delay through the flip-flop. The restriction on the pulse width can be eliminated with a master-slave or edge-triggered construction. 4. T Flip Flop This is a much simpler version of the J-K flip flop. Both the J and K inputs are connected together and thus are also called a single input J-K flip flop. When clock pulse is given to the flip flop, the output begins to toggle. Here also the restriction on the pulse width can be eliminated with a master-slave or edge-triggered construction. Take a look at the circuit and truth table below. T Flip Flop Conclusion Logic gates come in all shapes and sizes, and whether they are used in combinations or individually, they provide the user with many options and solutions to problems which may appear difficult at first. Furthermore, these seven basic logic gates ease the complexity of Boolean algebra and allow for simple application in electronics and circuit analysis. These gates can be used in almost any situation such as comparison of frequencies when developing filters in communication or in more mechanical settings when using choppers and inverters which compare input and output currents to determine modulating indexes

Garden Design for the Blind :: Architecture Design Essays

Garden Design for the Blind It is a commonly known fact that the removal of one sense sharpens and enhances the perception of the others. We as humans are very centered on sight, and we tend to give less weight to our other senses when it comes to perceiving the world around us. For the most part, our environment tends to consist of designs made for us to experience visually. We do recognize sound as important, but when we are not actively listening to music or speech, sound tends to fade into the background. While we don’t really notice it’s there, sound serves to give us many clues about our surroundings. Our sense of touch is also important in many ways. We can use it actively, feeling many aspects of the world around us; a simple touch can read the temperature, surface texture, and hardness, among other things, of an object in our surroundings. We also possess a sense of kinesthesia, which involves cues from our muscles that give us information about the way our bodies are moving through space. An important component of this system is our balance system in our middle ear. This lets us know when we are or are not in a vertical position. Our leg muscles can tell us the conditions of the surface upon which we are walking and how far we have traveled. Easily the most overlooked sense is the sense of smell. Most of us rarely think about it, but studies have shown that of all the external stimuli that affect the way we do things, odor might be the biggest influence on our behavior. Scent is a major component of memory, especially of pleasant memories. A whiff of a particular smell, perhaps lavender, might bring back memories of weekends at Grandma’s house, where the linen closet was scented with lavender sachets. Studies have linked changes in emotion and even basic instincts to our sense of smell. The French have a restaurant called â€Å"dans le noir?† (or â€Å"in the dark?†) in which seeing people get an experience that is almost like being blind. They are guided to a table by waiters, some blind and some sighted; they eat their entire meal in the complete darkness. The principle behind this is that in the absence of sight, all the other senses are heightened.

Oil and Gas Accounting Essay

If operation is conducted under Lease or concession agreement, it is unlikely that the contract would contain provisions that would permit cost recovery of these costs If the operation is conducted under a psc or risk service agreement, the contractor may be permitted to recover G&G related expenditures incurred after license acquisition and possibly G&G costs incurred before license acquisition Support equipment and facilities Cost of acquiring support equipment and facilities should be capitalized Any related depreciation or operating costs become an exploration, development or production cost, as appropriate. Entries: Db G&G expense –depreciation Cr Accumulated Depreciation Db G&G expense-operating costs Cr Cash Reprocessing Seismic How to account for cost of re-evaluation or reprocessing of the data? If the reprocessing relates to the search for oil then it should be accounted for according to SE provisions regarding prospecting and nondrilling exploration costs. If the purpose is to determine how best to develop the reserves in the field, then they should be capitalized as development costs. License acquisition costs Costs of evaluating business environment, signature bonus, negotiating, etc should be capitalized Entry: Db Intangible assets-unproved property Cr Cash Development and production bonuses If the payment is actually a deferred signing bonus, the appropriate accounting treatment is to capitalize the development bonus as a license acquisition cost. Accrue once the operations are apparently proceeding to the development phase. Entries: To record signature bonus: Db Intangible Assets – unproved property Cr Cash To transfer unproved property costs to proved due to commercial discovery: Db Proved property Cr unproved property To record accrual of production bonus: Proved property Cr production bonus payable To record payment of production bonus: Db Production bonus payable Cr Cash Internal costs relating to acquisition Can allocate capitalized costs to individual licenses acquired, on an acreage basis or an a potential licenses basis Costs of carrying and retaining unproved properties Costs relating to maintaining unproved properties be charged to expense as incurred Ex: delay rentals paid on lease mineral properties until specified work is commenced, property taxes, accounting costs, legal costs Impairment of unproved property Impairment has occurred if there is some indication that the capitalized cost of an unproved property is greater than the future economic benefits expected to be derived from the property. Under SE, loss should be realized. Negative G&G data and dry holes would typically suggest that part of the property’s historical cost has expired and impairment should be recognized Db Impairment expense Cr Allowance for impairment FASB permits impairment of individually insignificant properties on a group basis. Apply the impairment percentage to the total cost of the group of individually insignificant unproved properties. This determines the desired balance in the allowance for impairment account. Next the difference between the current balance and the desired balance is recognized as impairment expense. Entry: Impairment Expense Cr Allowance for impairment, group basis Abandonment of unproved property Full abandonment: When an individually significant license area is abandoned, its net capitalized acquisition costs should be charged to surrender and abandonment expense Ex: Db Surrender and abandonment expense (equal to acquisition cost) Db Allowance for impairment (balance) Cr unproved property Partial Abandonment or Relinquishments If the partial abandonment reflects a diminishment in the company’s assessment of the future economic benefit of the property, then the entire  property should be assessed for additional impairment. Unproved property classification An unproved property should be reclassified to a proved property status if and when commercial reserves are discovered on the property. Ex: Db Tangible Assets- proved property (acquisition costs) Db Impairment Allowance (balance) Cr In tangible assets- unproved property Sales of unproved property If the property was individually significant, a gain or loss should be recognized on the sale. Ex: Db Cash (sale price) Db allowance for impairment (balance) Db/Cr(gain or loss) Cr unproved property If the property was individually insignificant, a gain should be recognized only if the selling price exceeds the original cost of the property. Loss recognition is not allowed. CHAPTER 5 Accounting for Exploratory Drilling and Appraisal Costs Under SE, general nondrilling exploratory costs are to be charged to expense as incurred; exploratory drilling type costs are initially capitalized. Exploratory Well- well drilled to find and produce oil or gas in an unproved area to find a new reservoir in a another reservoir or to extend a known reservoir. Stratigraphic test well- drilling effort to obtain information pertaining to a specific geological condition. â€Å"Exploratory type† if drilled in a proved area, â€Å"development type† if drilled in a proved area. Exploration well- well drilled to discover whether oil or gas exists in a previously unproved geological structure Appraisal well- well drill to determine the size, characteristics, and commercial potential of a reservoir by digging an exploratory well. Classifying Drilling costs Separate intangible drilling costs (IDC) from equipment costs. IDC deducted in year incurred for US tax law. Equipment costs may be depreciated over 7-10 years. Besides tax purposes, distinction has no significance Targeted Depth When evaluating after drilling : if commercial reserves have been discovered, the drilling in progress account balances are transferred to another type of  asset account that will be subject to depreciation The first successful exploratory well’s cost will be reclassified from an unproved to a proved property account If well is unsuccessful, plug and abandon hole and charges these costs to dry hole expense, net any equipment salvaged from well. If the license area is also relinquished, the net carrying value must be written off. Capitalized G&G SE- G&G costs are to be charged to expense as incurred. Current methods may capitalize 3D and 4D seismic methods used to determine drill sites. Time Limit on exploration and evaluation or appraisal costs In order for cost to be capitalized in SE, there must be identifiable future benefit. IF an exploratory wwell has found oil reserves in an area requiring major capital expenditure to be classified as proved. In this case, the cost of drilling the exploratory well shall continue to be carried as an asset as long as 1. The well has found a sufficient quantity of reserves to justify its completion and 2. Drilling of the additional wells is under way or planned for the near future All other wells, sshall not be carried as an asset for more than one year following completion of drilling Post-balance Sheet Period GAAP provisions that relate to information about conditions that existed at the balance sheet date or that became known after the end of the period but before the financial statements are issued. If well is determined dry, capitalized costs are written off to dry hole expense If commercial reserves are found, the capitalized drilling costs are transferred to the wells and equipment accounts All the capitalized costs of an exploratory well are typically reclassified as dry hole expense or as wells and related equipment Cost approval, budget and monitoring AFE- Authorization for expenditure CHAPTER 6 Drilling And Development Costs- US SE Development costs- costs incurred to obtain access to proved reserves and to  provide facilities for extracting, treating, gathering and storing the oil and gas. More specifically, development costs, including depreciation and applicable operating costs of support equipment and facilities and other costs incurred to: Gain access to and prepare well locations for drilling, including surveying, draining, road building, etc Drill and equip developmental wells, including costs of platforms Acquire, construct and install production facilities such as lease flow lines, separators, etc Provide improved recovery systems Development well- well drilled within the proved area of an oil or gas reservoir to the depth of a stratigraphic horizon known to be productive Service well- completed for the purpose of supporting production in an existing field. Development type stratigraphic well- stratigraphic test well drilled in a proved area Capitalization of Development-Related G&G Exploration Costs Requires capitalization of G&G in development activities. Unless it is performed on a development land area but to an unknown structure- expensed. If 3d seismic is being used to study the reservoir and perhaps where addition development wells should be drilled, theoretically the cost should be capitalized to the field as development cost. Overhead As a general rule, all G&A is expensed, however where the company has a defined method for allocation is permitted to capitalize these costs as part of development Capitalization of Depreciation of Equip and Facilities Depending on nature, costs can be expensed or capitalized Capitalization of Financing Costs â€Å"Capitalization of Interest† requires that a portion of interest costs incurred during the construction phase of assets should be capitalized as a part of the cost of the self-constructed asset. Interest capitalization only applies to qualifying assets: 1. Assets that are constructed or otherwise produced for an enterprise’s own use 2. Assets intended for sale or lease that are constructed or otherwise produced as discrete projects (ships or real estate developments) Amount to interest to capitalize- the portion of  interest costs incurred during the period when the asset is being constructed that could have been avoided if the spending on the asset had not been made. Capitalization period shall begin when 3 conditions are met: Expenditures for asset have been made Activities that are necessary to get the asset ready for its intended use are in progress Interest cost is being incurred Once production begins- depreciate capitalized costs Sole Risk or Carried Interests If an asset requires a period of time in which to carry out the activities necessary to bring it to that condition and location, the interest cost incurred during that period as a result of expenditures for the asset is a part of the historical cost of acquiring the asset. â€Å" CHAPTER 9 Production Costs Costs of labor to operate the wells and related equipment and facilities Repairs and maintenance Materials, supplies, and fuel consumed and services utilized in operating the wells and related equipment and facilities Property taxes and insurance applicable to proved properties and wells and related equipment and facilities Severance taxes Depreciation, depletion and amortization Accounting for Production Costs All costs relating to production activities, including workover costs incurred solely to maintain or increase levels of production from an existing completion interval, shall be charged to expense as incurred. An expenditure that enhances original performance of the well should be capitalized Materials and supplies- capitalize if used in drilling or development. If used in repair or maintenance, they should be expensed. Recompletions- typically involve entering an existing well and deepening or plugging back in order to achieve production in a new formation or a zone in an existing formation. In a currently or previously producing formation or zone should be treated as an expense since the purpose is to restore  production without an increase in commercial reserves If the objective is to develop reserves in a new formation or find new reserves, the activity would be new drilling. (drilling costs could be exploratory or development rather than production) Costs should then be capita lized or expensed depending on SE or FC and on outcome of drilling Taxes (severance or production) should be expensed as production costs Crude Oil Production 1 Barrel = 42 gallons of oil at 60 degrees F API gravity (measure of density) of oil = the higher, the lighter the oil All crude contains BS&W- basic sediments and water Disposition: outright sales, direct supply, indirect supply, exchanges, fraccers, or oil used in operations Gas measurement Measurement in mcf is affected by temperature., pressure, compressibility, gravity etc Standard pressure is 14.73 pounds per square inch at 60 degrees Fahrenheit Pre Acquisition Acquisition Exploratory Development Production List the four Oil & Gas Agreements used on a worldwide basis and describe each one. 1. US Domestic lease agreement- an oil and gas lease grants to the oil and gas company the right and obligation to operate a property. This includes the right to explore for, develop and produce oil and gas from the property and also obligates the company to pay all costs. (Company is a working interest owner). All costs, all risk. Payment of a signature bonus to mineral rights owner or a royalty. 2. Concession agreement- encountered in operations outside the united states where the mineral rights owner is the local government. Sometimes the government is involved with a joint working interest. Payment of a bonus by the oil company to the government at the time the contract is signed. Payment of a royalty to the government. Responsible for paying all of the costs incurred in developing. 3. Risk service agreement- oil companies erform workovers aimed at restoring or stimulating production including application of current technology to currently producing fields. Bonus to national government at contract signing. Government retains ownership of reserve. Oil company incurs all costs and risks. Operating and capital costs incurred are recovered through payment of operating and capital fees. Government may participate in  operations as a working interest owner. 4. Production Sharing contracts- companies obtain the rights from the government to explore for, develop and produce oil and gas. Company pays bonus to national government at contract date. Pays royalties to government. Government maintains ownership of reserves. Companies incur all risk and costs. Company required to spend a predetermined amount of money, which is recoverable from future production. 2.) Describe the life cycle (Phases) of an Oil & Gas Project. Include the Accounting Treatment (ie. Successful Efforts or Full Cost Pool) for each phase. 1. Pre-license prospecting- geological evaluation of relatively large areas before acquisition of petroleum rights. Analyzing G&G data. Successful Efforts (SE) Method The Financial Accounting Standards Board (FASB) has issued FASB Statement No. 19 dealing with the successful efforts method. Under the SE method, costs incurred in searching for, acquiring, and developing oil and gas reserves are capitalized if they directly result in producing reserves. Costs which are attributable to activities that do not result in finding, acquiring, or developing specific reserves are charged to expense. The cost center for the SE method is a lease, field, or reservoir. The various types of costs are treated under the SE method as follows: 1. Acquisition Costs: They are capitalized to unproven property until proved reserves are found or until the property is abandoned or impaired (a partial abandonment). If adequate reserves are discovered, the property is reclassified from unproven property to proven property. For tax purposes, acquisition costs are handled the same way except the cost cannot be partially written off as an impairment expense. The property must be abandoned before any cost may be written off. 2. Exploration Costs: They are recorded in two different ways, depending upon the type of costs incurred. a. Nondrilling Costs: Examples of these type of costs are geological and geophysical (G & G) costs, costs of carrying and retaining undeveloped properties, and dry hole and bottom hole contributions. These types of costs  are expensed as they are incurred. For tax purposes, nondrilling costs are capitalized to the applicable property. b. Drilling Costs: They are treated differently depending on whether the well drilled is classified as an exploratory well or a developmental well. An exploratory well is a well drilled in an unproven area. A developmental well is a well drilled to produce from a proven reservoir. 1) If an exploratory well is a dry hole, the costs incurred in drilling the well are expensed. If the exploratory well is successful, the costs incurred in drilling the well are capitalized to wells and related equipment and facilities. 2) The costs incurred in drilling developmental wells are capitalized to related equipment and facilities even if a dry hole is drilled. The costs associated with tangible well equipment and facilities are capitalized, regardless of the type of well drilled. For tax purposes, certain costs associated with such equipment are eligible for treatment as deductible IDC. Tax depreciation methods usually allow for a more accelerated rate of depreciation than book or financial depreciation. Also, book depreciation will be computed on 1-10the developmental dry holes and IDC which are capitalized for book purposes but expensed for tax purposes. Therefore, an M-1 adjustment will be required on the difference between the amount of book and tax depreciation. 3. Production Costs: These costs are expensed as incurred, which is the same treatment used for tax purposes. It should be noted, however, that many taxpayers erroneously expense overhead attributable to either acquisition or exploration activities as production costs. Overhead attributable to acquisition and exploration costs must be capitalized. 4. Depletion: This usually requires an M-1 adjustment. Although the cost depletion formula is the same for book and tax purposes, the amount for the basis used in the computation of cost depletion will vary due to the difference in capitalization. In addition, many taxpayers will be allowed to use a larger  percentage depletion deduction Full Cost Method Under the FC method, all costs incurred in exploring, acquiring, and developing oil and gas reserves in a cost center are capitalized. Geological and geophysical (G & G) studies, successful and unsuccessful, are capitalized for book and financial purposes. For tax purposes, successful G & G costs are capitalized and unsuccessful G & G costs are expensed. An M-1 adjustment is required for the amount of unsuccessful G & G costs expensed. Delay rental costs are capitalized for book and financial purposes. Exploratory dry hole costs are capitalized for book and financial purposes. For tax purposes, all dry hole costs (exploratory or developmental) are capitalized unless the taxpayer elects to expense them. Since most taxpayers expense these costs for tax purposes, an M-1 adjustment is required. Impaired or abandoned property costs remain capitalized in the cost center for book and financial purposes. For tax purposes, no deduction is allowed unless a property is totally worthless. An M-1 adjustment is required only when an abandonment is claimed for tax purposes. General and administrative costs which are not associated with acquisition, exploration, and development activities are expensed. However, overhead that can be associated with acquisition, exploration, and development activities is capitalized. The costs are handled the same way for tax purposes. Depletion usually will require an M-1 adjustment. In many instances, taxpayers may be able to claim a larger percentage depletion deduction in lieu of cost depletion. Even where cost depletion is claimed for book and financial purposes because of the different capitalization rules, the amount of cost depletion allowable will vary.

Pneumatology: Spiritual Gifts Essay

There are actually three biblical lists of the â€Å"gifts of the Spirit,† also known as spiritual gifts. The three main passages describing the spiritual gifts are (Romans 12:6-8; 1 Corinthians 12:4-11; and 1 Corinthians 12:28). The spiritual gifts identified in (Romans 12) are prophesying, serving, teaching, encouraging, giving, leadership, and mercy. The list in (1 Corinthians 12:4-11) includes the word of wisdom, the word of knowledge, faith, healing, miraculous powers, prophecy, distinguishing between spirits, speaking in tongues and interpretation of tongues. The list in (1 Corinthians 12:28) includes healings, helps, governments, diversities of tongues. Speaking in tongues – The gift of tongues is one of the temporary â€Å"sign gifts† given to the early Church to enable the gospel to be preached throughout the world to all nations and in all known languages. It involved the divine ability to speak in languages previously unknown to the speaker. This gift authenticated the message of the gospel and those who preached it as coming from God. The phrase â€Å"diversity of tongues† (KJV) or â€Å"different kinds of tongues† (NIV) effectively eliminates the idea of a â€Å"personal prayer language† as a spiritual gift. The apostles were for the most part ordinary men and only a few of them knowing another language other than their own. Even though there are those who teach that the gift of speaking in tongues is no longer a valid gift, in (1 Corinthians 13) we are told that at some time the sign gifts will cease. Some theologians say that the word â€Å"perfect† in verse 10 refers to the completion of the Revelation of God. Others teach that it refers to the resurrection. I believe that God can do whatever He wants. I don’t believe that the way we see this gift portrayed today is neither edifying to the church nor honoring God. If the gifts such as healing and speaking in tongues are still viable today, I believe that the gifts would be used in such a way as to never bring attention or glory to the one who possesses the gift, which is the opposite of what we see today. Even Paul said, â€Å"yet in the church I would rather speak five words with my understanding, that I may reach others also, than ten thousand words in a tongue. (1 Corinthians 14:19) I do believe that the Holy Spirit can lead any one at any time to speak in tongues if required by God to do so, with certain rules to be followed. In today’s churches, I find the rules not to be followed, so therefore I choose to believe it to be misguided and generic at best, due to lack of interpretation. Interpretation of tongues – A person with the gift of interpreting tongues could understand what a tongues-speaker was saying even though he did not know the language that was being spoken. The tongues interpreter would then communicate the message of the tongues speaker to everyone else, so all could understand. â€Å"What then shall we say, brothers? When you come together, everyone has a hymn, or a word of instruction, a revelation, a tongue or an interpretation. All of these must be done for the strengthening of the church. If anyone speaks in a tongue, two — or at the most three — should speak, one at a time, and someone must interpret. If there is no interpreter, the speaker should keep quiet in the church and speak to himself and God. † (1 Corinthians 14:26-28). In this passage Paul gave instructions for orderly worship. In his instructions we are told that if anyone speaks in a tongue, it should be two or three at the most and someone must interpret. What we see in most charismatic churches is contrary to these guidelines. I have visited several Pentecostal churches and have never seen a scriptural display of the gift of tongues. As I said before, if the gifts such as tongues and healing are still viable today, they would be used in such a way as to not draw attention to one person. What I have seen did not edify the church and it did glorify God. The sign gifts were given to confirm apostolic revelation. In â€Å"Theology Today†, Elmer Towns states, â€Å"When constructing a building, it is necessary to erect scaffolding to aid construction. When the building is built, the scaffolding is removed. The sign gifts were the spiritual scaffolding that God used as His authority to build the church†¦When the authority of the written Word of God was complete, God took the scaffolding down. † Whenever I come in contact with someone who objects to my views on tongues I just explain that the Bible spends so little time on the subject yet we spend too much of our time arguing about it. There are several places in Scripture I could take the time to make my views understood, but like many others, why waste the time on it when it does not serve a purpose pleasing to God? Along with the gift of tongues, there are other gifts listed that are still viable and useful and could be used in service to edify the church and bring glory to God. The baptism of the Holy Spirit occurs at the moment of salvation. We are all given the same portion of the Holy Spirit; but the Christian life is all about the Holy Spirit gaining more territory in us. There are three occasions in the book of Acts where speaking in tongues accompanied the receiving of the Holy Spirit—(Acts 2:4, 10:44-46, and 19:6). However, these three occasions are the only places in the Bible where speaking in tongues is an evidence of receiving the Holy Spirit. Throughout the book of Acts, thousands of people believe in Jesus and nothing is said about them speaking in tongues (Acts 2:41, 8:5-25, 16:31-34, 21:20). Nowhere in the New Testament is it taught that speaking in tongues is the only evidence a person has received the Holy Spirit. In fact, the New Testament teaches the opposite. We are told that every believer in Christ has the Holy Spirit (Romans 8:9; 1 Corinthians 12:13; Ephesians 1:13-14), but not every believer speaks in tongues (1 Corinthians 12:29-31). The baptism of the Holy Spirit does two things, first it joins us to the body of Christ, and second it actualizes our co-crucifixion with Christ. Being in His body means we are risen with Him to newness of life (Romans 6:4). We should then exercise our spiritual gifts to keep that body functioning properly as stated in the context of (1 Corinthians 12:13). Experiencing the one Spirit baptism serves as the basis for keeping the unity of the church, as in the context of (Ephesians 4:5-6). Being associated with Christ in His death, burial, and resurrection through Spirit baptism establishes the basis for our separation from the power of indwelling sin and our walk in newness of life (Romans 6:1-10; Colossians 2:12). Ephesians 4:5-6 (5) one Lord, one faith, one baptism; (6) one God and Father of all, who is above all, and through all, and in you all.

Strategic dissonance

Strategic dissonance Strategic dissonance is what Praxim is facing. Their implied strategic intent has always been to build the best relationships of any PC supplier with corporate clients. They appear to do this better than their competitors do. However, they have also been happy to take profits off the top end of the consumer market. Now that profits are falling, and the consumer division is to blame, there is a conflict between their mission, and what actually needs to be done to survive let alone grow. CEO Jack Thompson has already made the decision to rethink the firm's strategic vision. His recruitment of Linda Marcus makes it plain that he is willing to significantly alter the goals of the consumer division, and drastically change its position within the company.Just as all managers faced with strategic dissonance, Jack must emotionally detach himself from the old ways of doing things. He has done a good job of allowing debate on the topic among his senior staff, but it seems he still needs to con vince himself that he is doing the right thing.English: This plan was created for the Wikimedia F...Just because the corporate market has been more important to Praxim in the past, does not mean that the consumer market cannot be just as important for the future.The management team at Praxim has arrived at a decisive moment. Even though this area generates 20 percent of the company's sales, profit margins are terribly low in their consumer sales division. If they dispose of it, their profit margin may go up, but the loss of sales might still drive down their overall performance. The team, divided on how to resolve this issue, but a close assessment of the fundamental facts will give way a clearer picture.The company is ready to make the drastic and radical changes Jack's new...

Perceptual Mapping

Perceptual Mapping Free Online Research Papers Perceptual mapping is an exceptional resource that marketing managers use to better understand the correlation between competitors, changing marketplace conditions, the principles that influence consumers purchasing behaviors, and can help an organization maintain an advantage over its competitors. This distinctive style of market analysis illustrates a product or service’s market position in relation to subject, target market, price, design, competition, and lifestyle. This dissertation will illustrate the situation for each phase of the simulation. Next it intends to describe the recommended solutions and reasons for those recommendations. Last, this paper will discuss the various marketing components used in the simulation and answer the following questions: 1.) what is the connection between the delineation and positioning of products and services and is the positioning of a product or service different from what I expected? And 2.) How does the product life cycle a ffect the marketing and how did it affect the proposed product in the simulation? Thorr Motorcycle Inc. Thorr Motorcycle Inc. is a high image manufacturer of a variety of motorcycles. The business in known to produce over 200,000 each year and is worth five billion dollars. Thorr also holds licenses and sells numerous other consumers products like t-shirts, toys, and motorcycle shoes (Phoenix, 2010). Although the company handles a large volume of sales, it also provides services like software packages for dealers and motorcycle rentals and rider training to consumers. With its high level of performance and its high brand image, Thorr controls 40% of the Oligopoly market that includes the 651 + cc cruiser segmentation. According to the simulation, the sales of the Cruiser Thorr, one of Thorr Motorcycle Inc.’s existing products is declining even though the motorcycle industry is constantly expanding. One reason for this situation is the initial target audience age group selected for the Cruiser Thorr ranged from 35 to 50 (Phoenix, 2010). That age group is growing older and no longer care about the lifestyle image that owning a Cruiser Thorr represents, but other attributes that suit their needs and wants. Phase I My first assignment as the new marketing manager is to establish a well-developed and properly implemented positioning approach for the Cruiser Thorr. The first step to formulating a strong positioning strategy is to identify the parameters and attributes that play a significant role in swaying my customers’ purchasing behaviors and decisions. The same constraints are essential for fashioning the perceptual map that will help in creating a marketing approach and positioning strategy. The four essential parameters I have selected for the Cruiser Thorr are lifestyle image, quality engineering, price, and service offerings. Each of these attributes will a play a role in how consumers compare the Cruiser Thorr to its competition and other similar products on the market. The lifestyle image includes other characteristics like engine capacity, product styling, uniqueness, and brand image. Together these attributes create the lifestyle image that represents one significant parameter that often sways customers’ purchasing decisions rather more than functional attributes. Yet another parameter the current target market may be looking for is an affordable price that can be worked into a fixed income or budget, but without having to sacrifice the Cruiser Thorr embodies. However, Thorr must also consider the younger consumers in the 21 to 35 age group olds. This age group is less interested in the lifestyle image of the Cruiser Thorr but is often more interested in a less expensive motorcycle because of the lack of disposable income (Phoenix, 2010). The last two parameters that I have selected are quality engineering and service offerings. Consumers often relate these two attributes as a pair. If the engineering quality is poor than consumers presume that they will need a great deal of maintenance. So they believe the company should provide those services for the product that was purchased from them. Often consumers will go to a competitor for the needed service because the company the product was originally purchased from does not provide it. Phase II In the second phase of the simulation, I had to decide which positioning strategy will have a bigger and better affect on Thorr Motorcycle Inc. After examining the strengths, weaknesses, opportunities, and threats (SWOT), I have selected to launch the new motorcycle RRoth rather than reposition the existing Cruiser Thorr. I choose to introduce a product because I believe that with the development department’s new fuel-efficient engine incorporated with a more modern and younger look Thorr Inc. can attract the younger consumers. A cool and uniquely designed motorcycle accompanied by an inexpensive price is exactly what the younger consumers are considering when making their purchasing decisions. However, Thorr is still continuing to accommodate the older target audience’s expectations by providing the superior brand image that is so important to them. The above decision meant that I would have to develop an innovative marketing mix for the new RRoth. My recommendations and reasons for making each of those recommendations for that framework are as follows: Price: I believe the $13,000 to $15,000 price range is perfect for the new motorcycle. By placing the new RRoth in a lower price category we will be able to attract a larger volume of consumers who make up the consumer age group of 21 to 35. A lower price is exactly what this age group is looking for because this particular group does not have large amount of disposable cash. Promotion: Do the nature of the product category and story line, the best way to promote the new RRoth motorcycle is to introduce it and advertise it through Hollywood movies, especially the science fiction and action movies. These types of films seem best suited to follow along with the story line of the new motorcycle. Place: In today’s high technology world one of the best places to promote the new RRoth motorcycle is on the Internet. People are constantly relying on the Internet for some reason or another. It also possesses unbelievable penetration to reach the selected target audiences. So I believe the inexpensive pricing and unique new design will attract potential buyers to the Thorr Motorcycle Inc.’s manufacturer website to look at the new motorcycle. Phase III Phase III required me to interpret the results of the market research to create perceptual maps for both the Cruiser Thorr and the RRoth. My findings for each are as follows: Parameters for the Cruiser Thorr Lifestyle image- seven Price- eight Quality Engineering- eight Service offerings- nine I had interpreted the market research correctly for most of the parameter I had chosen, but needed to pay closer attention to the values that I assigned to lifestyle and price. The simulation recommended that I should have assigned a value of nine or higher because the customers who own Cruiser Thorr think so highly of it. Perceptual Map for the RRoth Once again I needed to examine the market research to formulate a perceptual map for the new RRoth motorcycle. The parameters for the RRoth perceptual map are as follows: Lifestyle image- seven Price- eight Quality engineering- nine Service offerings- eight I had analyzed the marketing research correctly. But could have included cool into the parameters I had selected. However, the rating of seven that I had assigned for the lifestyle image was appropriate for the brand and consumers also consider it to be a status symbol. The simulation also showed that I had appropriately quality engineering. According to the research, consumers are using this parameter to influence their purchasing decisions very heavily. Conclusion In regard to the relationship between differentiation and positioning of these products are almost similar. The differences between them are the Cruiser Thorr’s target audience once considered it to be a status symbol for a high price. The target audience for the RRoth sees it as a status symbol but with a cool unique look for less cost. But each still considers the same parameters to make their purchasing decisions. Going into this simulation I had no prior knowledge about motorcycles. If I understood more about the marketing of motorcycles or the retail of them, than I believe I would have had some opinion to the products positioning. But because of that, I had no expectations of the simulation in regard to how products were positioned. This simulation demonstrates that the Cruiser Thorr has progressed through the initial stages of the product life cycle that allow it to prosper and is now moving through the maturity stage. The cycle has helped it to grow and expand into the target market but Thorr Motorcycle Inc. is now struggling to sustain their sales levels. Whereas, the RRoth is just moving into the first stage of the product life cycle. Because each of these products is in a different phase of the product life cycle, the company will have to adjust its marketing strategies to accommodate that stage of the lifecycle. This could mean having to reinvent a product, reposition it, introduce a new product or even remove it from the market when it can no longer thrive on the market. References Phoenix, U. o. (2010). General Marketing:. Retrieved March 2010, from Using Perceptual Maps in Marketing. . Research Papers on Perceptual MappingMarketing of Lifeboy Soap A Unilever ProductIncorporating Risk and Uncertainty Factor in CapitalOpen Architechture a white paperBionic Assembly System: A New Concept of SelfDefinition of Export QuotasThe Project Managment Office SystemResearch Process Part OneThe Fifth HorsemanGenetic EngineeringRelationship between Media Coverage and Social and

Mark Twains Colloquial Prose Style

Mark Twain's Colloquial Prose Style Described by biographer Mark Krupnick as the single most important cultural critic in [the 20th] century among American men of letters, Lionel Trilling is best known for his first collection of essays, The Liberal Imagination (1950). In this excerpt from his essay on Huckleberry Finn, Trilling discusses the robust purity of Mark Twains prose style and its influence on almost every contemporary American writer. Mark Twains Colloquial Prose Style from The Liberal Imagination, by Lionel Trilling In form and style Huckleberry Finn is an almost perfect work. . . . The form of the book is based on the simplest of all novel-forms, the so-called picaresque novel, or novel of the road, which strings its incidents on the line of the hero’s travels. But, as Pascal says, rivers are roads that move, and the movement of the road in its own mysterious life transmutes the primitive simplicity of the form: the road itself is the greatest character in this novel of the road, and the hero’s departures from the river and his returns to it compose a subtle and significant pattern. The linear simplicity of the picaresque novel is further modified by the story’s having a clear dramatic organization: it has a beginning, a middle, and an end, and a mounting suspense of interest. As for the style of the book, it is not less than definitive in American literature. The prose of Huckleberry Finn established for written prose the virtues of American colloquial speech. This has nothing to do with pronunciation or grammar. It has something to do with ease and freedom in the use of language. Most of all it has to do with the structure of the sentence, which is simple, direct, and fluent, maintaining the rhythm of the word-groups of speech and the intonations of the speaking voice. In the matter of language, American literature had a special problem. The young nation was inclined to think that the mark of the truly literary product was a grandiosity and elegance not to be found in the common speech. It therefore encouraged a greater breach between its vernacular and its literary language than, say, English literature of the same period ever allowed. This accounts for the hollow ring one now and then hears even in the work of our best writers in the first half of the last century. English writers of equal stature would never have made the lapses into rhetorical excess that are common in Cooper and Poe and that are to be found even in Melville and Hawthorne. Yet at the same time that the language of ambitious literature was high and thus always in danger of falseness, the American reader was keenly interested in the actualities of daily speech. No literature, indeed, was ever so taken up with matters of speech as ours was. Dialect, which attracted even our serious writers, was the accepted common ground of our popular humorous writing. Nothing in social life seemed so remarkable as the different forms which speech could takethe brogue of the immigrant Irish or the mispronunciation of the German, the affectation of the English, the reputed precision of the Bostonian, the legendary twang of the Yankee farmer, and the drawl of the Pike County man. Mark Twain, of course, was in the tradition of humor that exploited this interest, and no one could play with it nearly so well. Although today the carefully spelled-out dialects of nineteenth-century American humor are likely to seem dull enough, the subtle variations of speech in Huckleberry Fin n, of which Mark Twain was justly proud, are still part of the liveliness and flavor of the book. Out of his knowledge of the actual speech of America Mark Twain forged a classic prose. The adjective may seem a strange one, yet it is apt. Forget the misspellings and the faults of grammar, and the prose will be seen to move with the greatest simplicity, directness, lucidity, and grace. These qualities are by no means accidental. Mark Twain, who read widely, was passionately interested in the problems of style; the mark of the strictest literary sensibility is everywhere to be found in the prose of Huckleberry Finn. It is this prose that Ernest Hemingway had chiefly in mind when he said that all modern American literature comes from one book by Mark Twain called Huckleberry Finn. Hemingways own prose stems from it directly and consciously; so does the prose of the two modern writers who most influenced Hemingways early style, Gertrude Stein and Sherwood Anderson (although neither of them could maintain the robust purity of their model); so, too, does the best of William Faulkners prose, which, like Mark Twains own, reinforces the colloquial tradition with the literary tradition. Indeed, it may be said that almost every contemporary American writer who deals conscientiously with the problems and possibility of prose must feel, directly or indirectly, the influence of Mark Twain. He is the master of the style that escapes the fixity of the printed page, that sounds in our ears with the immediacy of the heard voice, the very voice of unpretentious truth. See also: Mark Twain on Words and Wordiness, Grammar and Composition Lionel Trillings essay Huckleberry Finn appears in The Liberal Imagination, published by Viking Press in 1950 and currently available in a paperback edition published by New York Review of Books Classics (2008).

Strategic Channel Plan for Startech company Essay

Strategic Channel Plan for Startech company - Essay Example With increased uptake of technology in the 21st century, many businesses are beginning to redefine their business channels with the previously existing channels being done away with and a surge in consumer to business channels. This has not only seen a change in business, marketing strategies but has also seen a growth in new businesses and also a formation of relationships that tend to lean on consumer satisfaction by most business. For a business like Startech the internet is of huge rewards to them as they can expand their business to reach clients from all over the world, in addition clients can easily access their services via the web and they clients can have ease of access to the Startech customer support who would help them with products and services and most important consumers can now access quality goods and services as well as Startech can maintain contact with the customers. For any company that is operating in a dynamic environment such as that Startech is operating in the channels of business need careful consideration and several factors need to be put into careful consideration. The most important factor in this is the clientele. What does the clientele mostly need and does the business have it? Such careful consideration will help the organisation set mechanisms and frameworks that will help the clients access the goods and services. It also helps the firm come up with considerations on what channels they will set up. To begin with we shall study the marketing channels by looking at the strategy, framework and the functions. A marketing channel is the link that a business has built to see te transfer of goods from the point of manufacturer to the point of consumption. Marketing channels are generally involved in the transfer of ownership and are important to any business organisation as they facilitate the linking of the producer and the consumer of the goods. Through the various marketing channels and through the transfer of ownership of the goods the producer is able to understand and note the needs of the consumers and work towards meeting them. It is also important in that it helps n organisation come up with a pricing mechanism by factoring in all the costs involved in the transfer of the goods from the producer to the consumer, a firm is able to come up with prices that will enable them maintain their margins as well as ensure the goods and services are competitive in the market. A marketing channel also incorporates several factors into it by being involved in the promotion and advertising of the particular goods that is up for sale. Through marketing channels, firms are able to boost and increase their sales in the business which subsequently leads to better revenues and profits. The marketing channels are normally conducted by a department in an organisation or by an independent company tasked with the mandate of ensuring that the company’s goods and services are fast moving in the market. The marketing channel is also known as the distribution channel and is overall involved in activities that promote brand loyalty and brand visibility. The marketing channel of a business also institutes policies and frameworks that are geared at helping the business achieve its short term and long term goals as far as sales are concerned through setting targets and acting in line with company goals and objectives. There are normally three types of communication channels. Th e communication channel which is involved in the exchange of information between the producers and

Islamic Accounting and Reporting Assignment Example | Topics and Well Written Essays - 1750 words

Islamic Accounting and Reporting - Assignment Example The time period is also referred to as Ijarah period (Siddiqui, n.d.). The Ijarah contract is based on Islamic principles and has emerged as a popular asset financing concept. This contract is also used for transactions related to employment and hire of services. This contract of Ijarah is a mode of financing which provides customers with short to medium term financing to lease items such as buildings, real estates, computers, equipments, machineries and other items which are not forbidden of haraam. The contract is almost similar to conventional leasing contract but not identical to it (Ibrahim, 2001). The Ijarah rental amount is paid in installments over the time to cover the costs or the value of the investment for the bank in addition to the fair return on the investment (Ghuddah, 2007). In Ijarah the ownership of the asset is not transferred to the lessee. Risk associated with the ownership of the assets should remain with the banks and the asset is supposed to be reverted to th e bank at the end of Ijarah period. The cash flows of the asset are structured in such a way that they cover the price of the asset and provide a return on the same. Some of the important features of the Ijarah contract are as follows: ïÆ'Ëœ The asset which has been leased must have a valuable use that is compliant with the Shari’a laws. ïÆ'Ëœ ... Usufruct means the right of using another’s property for profit (Abdullah, 2010). The rental payment must occur after the delivery of the leased asset. For example by giving the keys of the building to the lessee musta’jir. If there is a loss to the usufruct then the Ijarah contract stands terminated (Shariff and Rahman, n.d.) Islamic accounting is less accepting towards the concept of time value of money and that is why in Ijarah accounting the lease and the transfer amount will be accounted as separate transaction even if these transactions are linked with each other (Malaysian Accounting Standards Board, 2010). In conventional leasing it is acceptable to have a lease and sale in one accounting transaction; however to have more than one accounting transaction with more than one result is prohibited in Islamic accounting. The results derived from the lease transaction differ from the sale transaction and that is why they cannot be combined into a single transaction und er Islamic accounting which is also known as Akad. In conventional leasing finance there are usually two types of leases known as operating lease and financial lease. In operating lease the lessor owns the asset and bears the risk and the maintenance costs. In financial lease the ownership of the asset remains with the lessor and the risk and operating costs are borne by the lessee. Conventional leasing provides options to the lessor and lessee to terminate the lease contract unanimously. Ijarah contract on the other hand gives option to the lessor and lessee to terminate the contract within a stipulated time frame. This option is valid for a particular time period under the framework of Al-Khiyar. In conventional leasing, in case of termination of the contract, the remaining rental payment

Sports Cricket Essay Example | Topics and Well Written Essays - 2000 words

Sports Cricket - Essay Example Such lost for the English people can be considered as a wake up call and thus can be perceived as main reason for the continuous kindling and motivation of the sport in participation of the two countries and even other countries. This is due to the fact that the even is continuously attracting participants from different parts of the world and the members of the international community. From the onset of the tradition of the sports cricket, The Ashes can be considered as the most important. The influence that the said event made already transcends the world of sports. In fact, it can be considered to have influenced the different aspects of the society. This can be perceived in terms of the social, economic, cultural and even the political aspects (Birley, 2003) Through the ages, the Ashes had surpassed the different challenges that a game can meet. The said sports can, in fact, be considered as an institution already. The said status of the game can be attributed to the stretch of long and colourful history that the event already surmounted. The establishment of the Ashes as an important event in cricket can be regarded as the most influential event. In terms of the history of the game itself, the most important part can be identified as the earliest and the latest years, although the continuous drive to present and organize the Test contributes largely for each year of commencement (Cricinfo, 2006). The early years are essential for the recognition of the Ashes due to the fact that the early part of the development of the tournament represents the establishment of the rules and the internal workings and even the administration of the game. On the other hand the latter years, which can be recognized as simultaneously occurring through the development of the modern time, can be recognized and commended due to the fact that the event was able to survive even through the through the introduction of a number of pastimes, events, sports and other form of entertainment (Birley, 2003). The charisma of the game can be attributed to the fact that the rivalry of the two participating countries can be considered as an attractive factor. The hype of the competition along with a number of different factors that even heighten the excitement of the event can be recognized as on of the reasons behind the status of The Ashes (Birley, 2003). There are important factors that can be considered that make the event, the Ashes, as one of the recognized and popular sports in the international community and the world. These factors can be considered as consciously or unconsciously being tackled through the involvement in the game, though as a participant or as an observer. Included in the said factors are the media and other social factors such as the race, the class and the gender, making the event an attraction in both the positive and the negative sense of the word. Due to the effects of these factors, it can be perceived important to be able to present the interaction of the said concepts. One of the approaches to be able to achieve the particular goal is through the determination of the effects of the portrayal of the media, in different forms, on the other factors such as t

CS 1 - Strategic Review XCG Essay Example | Topics and Well Written Essays - 1500 words

CS 1 - Strategic Review XCG - Essay Example With the help of P2P, Skype was able to operate at low cost and allow users to sign up for their accounts quickly (Jusevicius & Firantas, 2010). In other words, Skype is a software-based platform for communication that is offering top quality along with easy to use tools and features to both consumers and businesses for communication and collaboration worldwide via voice, text and video conversations. Skype has already released numerous versions after its launch so that users can make use of technologically advanced features with utmost ease and enjoy the sensation of having conversation online from anywhere. The best features offered by Skype are video calling, chat rooms, SMS messaging, voicemails and click-to-call. It also offered services especially designed for businesses that comprise of e-mail integration and conferencing which have configuration over Skype Control Panel. Skype has even announced world’s first Wi-Fi-VoIP phone in collaboration with NetGear and is even investing in wireless FON community. According to Skype (2012), the mission of the company is to be the foundation of communication on web that is real-time based. The mission statement of Skype can be defined as â€Å"We enable all users via virtually any of the Internet-connected devices to communicate with each other by using video, voice and instant messaging for free of any charges or even make low cost voice calls to numbers both fixed and mobile anywhere across the world†. As of first half of 2010, Skype had 124 million connected users who placed about 95 billion calling minutes over Skype which is approximately 40 per cent of video calls. The best aspect of Skype is that it can be downloaded on computers, mobile phones and all other connected devices for free from its website i.e. www.skype.com. According to Skype’s founders, VoIP market has a huge potential for growth that needs to be explored. It is expected that

Discuss strengths and weaknesses of group decision making Essay

Discuss strengths and weaknesses of group decision making - Essay Example Also, the group can also compel a person to be more open-minded when considering ideas that he may not accept in the beginning. People who were actively involved in the decision making process are more committed in making sure to implement the solutions agreed upon by the team. Group decision making is an important part in increasing the output and the profits of a business. It motivates employees to be more involved in their work and so increase their effectiveness in doing their jobs. It is also easier to measure the results of an agreed solution and the related performance of the people involved in the problem solving discussion. Because they feel they own the agreed solution, they are bound to use all their innate abilities to make sure that the solution will work. Their sense of ownership and responsibility towards the project will develop their leadership to the benefit of the organization. However, group problem solving can be disadvantageous in some cases. First of all, it ne eds more time than an individual deciding for himself. Opinions and ideas from each member of the group have to considered before the group can reach an agreement.

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

Socrates - Essay Example listening to both sides of the argument rejects the study of language altogether declaring it shallow and shoddier than the study of things themselves. If we go into the details of this argument, Plato’s seems to argue that nothing significant can be known about a particular thing by examining its name Keller(2000,pp. 285-305) . The actual worth of a thing lies in itself which seems convincing to some extent. However, at the same time, it seems a bit irrational to assume that the words or names have an intrinsic relation to the things they signify .A same thing can be viewed differently by different individuals depending on his mind set. It certainly will not be wrong to say that it is all a matter of perception. For instance, the word ugly sounds ugly but it certainly does not signify the essence of the thing it is referring to and it sounds ugly only because it has been inculcated in our minds from the beginning of our lives thereby making Hermogenes’ argument stronge r Robinson(1956,pp. 325). Even the educational psychology reveals that it is not the verbal utterances but the behavioral patterns that have a deep impact on a person’s mind. Socrates argument, on one hand, sounds convincing but on the other hand, the importance of language cannot be denied altogether and I firmly believe that the two of them go hand in hand. It is indeed more important to go into the depth of the thing itself in order to study it extensively, however, language is an essential medium to give one’s thoughts a voice with interesting corollary which basically is the most significant attribute of mankind and giving them equal importance sounds a lot better than the Socrates’ argument of rejecting the language altogether. Hence, it can be said that the name of a thing may not be as important as the thing itself but a thing without any apparent identity of its own makes it hard to describe. In fact, the plot of the argument shows a contrast between wh at Socrates is defending in

Discuss strengths and weaknesses of group decision making Essay

Discuss strengths and weaknesses of group decision making - Essay Example Also, the group can also compel a person to be more open-minded when considering ideas that he may not accept in the beginning. People who were actively involved in the decision making process are more committed in making sure to implement the solutions agreed upon by the team. Group decision making is an important part in increasing the output and the profits of a business. It motivates employees to be more involved in their work and so increase their effectiveness in doing their jobs. It is also easier to measure the results of an agreed solution and the related performance of the people involved in the problem solving discussion. Because they feel they own the agreed solution, they are bound to use all their innate abilities to make sure that the solution will work. Their sense of ownership and responsibility towards the project will develop their leadership to the benefit of the organization. However, group problem solving can be disadvantageous in some cases. First of all, it ne eds more time than an individual deciding for himself. Opinions and ideas from each member of the group have to considered before the group can reach an agreement.

Enhancing Employability in Marketing Assignment

Enhancing Employability in Marketing - Assignment Example Particularly, the banking and finance industry has witnessed this and there is since a vacancy hence the need to employ more marketers and advertisers in London as its the country’s hub. Financial services, professional services, not-for-profit and media are hiring the majority of marketers in London (Anderson & Marsh, 2011). Also, another current trend worth taking note of in the marketing and advertising industry in the U.K is high demand for digital marketers. Technology has revolutionized the traditional way of doing business. Companies are now hiring personnel who can compete globally and those who are techno-savvy. For example, online marketing is a tool used by most companies that want to gain a global audience. This therefore means that there will be a very high demand for digital marketers who can use various online methods as channels of communication. Another significant trend in this industry is demand for marketers driven by regional specific industries. Each region in the U.K has a specialized marketing need. They will therefore hire marketers who they think will be most appropriate for those various needs. An example would be Leeds is dominated by retail, financial and professional services; Sheffield by manufacturing and public sector; Greater Manchester has a diverse mix of industry, com merce, public sector, as well as dominating the creative agency sector outside of London. The location of the port cities of Liverpool and Newcastle mean they operate almost as separate economies in their own right. This means that the demand for marketers will vary greatly and will definitely depend on the demand and supply rule otherwise known as Adams invisible hand theory. (CBI employability report 2010). Finally, the industry has also experienced a high turnover in the fast moving consumer goods sector.

The Euro Currency And European Union Economics Essay

The Euro Currency And European Union Economics Essay The Euro Currency has been a resounding success and is poised to replace the Dollar as the strongest currency in the world. The potential long-term advantages for business make it inevitable that the UK, Sweden Denmark will have to adopt the European Single Currency shortly or risk damaging their long-term prosperity by staying out Introduction European Union mission in the 21st century is to: Europes provide peace, prosperity and stability for its peoples; overcome the divisions on the continent; ensure that its people can live in safety; promote balanced economic and social development; meet the challenges of globalisation and preserve the diversity of the peoples of Europe; uphold the values that Europeans share, such as sustainable development and a sound environment, respect for human rights and the social market economy. PEST Chart Joining European Union Political Prevent war Government will lose its sovereignty and control over its monetary policies. Forming up as one big economy allows Europe to be competitive with other strong economies such as US, China Japan. Economical Bring down trade barriers Economy will be stable due to long term increase in trade Inflation and interest rates can be unified controlled. But inability to control any undesired inflation rate. Increase of employment and labor supply. Bring down Labor costs. Will be able to improve on employment issues, provide job trade opportunities Will increase Foreign Direct Investment (FDI) Social Lost of national Sovereignty will cause unhappiness among the citizens affected. Majority of the people still do not agree on their country joining in the European Union (EU) EU stresses on the point of social responsibility towards Resource Conservation Technological Sharing of emerging technologies information. Combined effort/project of research and development activity for European economy Impact of technology transfer. If United Kingdom, Denmark and Sweden were to join the European Single Currencyà ¢Ã¢â€š ¬Ã‚ ¦ The Economic Political advantages for businesses based in these countries Advantages (http://www.economicshelp.org/europe/benefits-euro.html) 1. Transaction costs will be eliminated This will greatly benefit businesses who trade and tourists within the European Economic and Monetary Union (EMU) area, as there will be no charge for changing of currency, thus boosting the economy. It is estimated that this benefit will be equal to 1% of GDP so will be quite significant. 2. Price transparency European Union (EU) companies often find it difficult to accurately compare the prices of goods, services and resources across the EU because of the distorting effects of exchange rate differences. So when price is transparent, trading starts to take place. 3. No more exchange rate fluctuations. Uncertainty eliminated. Due to the fluctuating currencies in the EU, many firms become wary when investing in other countries because of the uncertainty. Investment would rise in the EMU area as the currency is universal within the area, therefore the anxiety that was previously apparent is there no more. 4. Single currency in single market. It brings the Europes economy forward after trading has taken place more effectively and efficiently 5. Be able to contend with the American Dollar and Japanese Yen. A new currency in Europe could be a rival to the two currencies, as it seems EMU seems to be in a good situation that it can survive on its own, with or without the help of Japan and U.S.A. 6. Prevent war. When countries unite trade effectively together, they dont wage war on each other and if EMU have more undisrupted trade, then there will be peace for Europe too. 7. Increased Trade and reduced costs for businesses Proponents of the move argue that it brings considerable economic trade through the wiping out of exchange rate fluctuations, but as well as this it helps to lower costs to industry because companies will not have to buy foreign exchange for use within the EU. For them, EU represents the completion of the Single European Market. It is vital if Europe is to compete with the other large trading blocs of the Far East and North America. 8. Inflation The European Central Bank (ECB) which sets interest rates for the whole EMU area will be committed to keeping inflation low; countries with traditionally high inflation will benefit from this. However, this point is debatable as countries outside the EMU have maintained low inflation. 9. The Political agenda. There is also a political agenda to European bank (the European System of Central Banks -ESCB), the removal national control over policy. Individual nation states will lose sovereignty (i.e. the ability to control their own affairs). It will pave the road to move towards ONE economical union. Disadvantages (http://www.economicshelp.org/europe/costs-euro.html) Cost of replacing currencys and adjusting machines. (This is however a one off cost) 2. Loss of autonomy over economic policy. Loss of Sovereignty. By adopting a common interest rate for the EMU area, countries will lose a crucial part of their Monetary policy. Politically, an independent central bank is often argued to be undemocratic in this setting (A Cukierman, 1994). Although countries are heading towards ONE economic union in Europe but they are definitely not, with regards to political terms. 3. Countries economy are at a different stage in the business cycle. This will be a huge problem, for instance in 2005, Ireland and Spain were growing quite fast and need higher interest rates to control inflation than other countries who need lower interest rates. Therefore with low interest rate Ireland might experience inflation. On the other hand, in 2009, Ireland and Spain were experiencing a deeper recession than the rest of the EMU area. They needed lower interest rates and depreciation, while other countries did not require to. 4. The instability of the system In 1992, UK benefited from leaving the ERM in order to have lower interest rates and come out of recession. This showed that countries economies may not have converged and a single policy could be harmful. As Greece is heavily in debt and had caused EU to be affected, so it seems wise for UK, Sweden Denmark not to join at the moment 5. Government could not devalue the Euro to overcome balance of payments problems. Countries will lose some independence over Fiscal Policy. This is because of the growth and stability pact.( e.g. no country is allowed to borrow more than 3% of its GDP. Which means that they will have to try and maintain the economy at a similar stage to other countries. E.G. Ireland had high growth and was criticised for increasing spending, (which increases AS), Asymmetric Shocks. If one country experienced an external shock it might need a different response. But this is not possible with a common currency. E.g. In order to reduce inflation, German reunification required higher interest rates, but this was not in favor for many other EU countries. 6. Monetary Policy will have different effects in different countries. For example the UK is sensitive to changes in the interest rate because many people have mortgages. And their terms conditions differ from other countries. 7. The EURO has been quite unstable against the dollar Whilst Sterling has been quite stable. Joining the EU could therefore increase instability against over currencies 8. The ECB is less transparent in their decision making For example they do not produce monthly minutes, this makes interest rate changes less predictable and so countries may not be able to do their economy forecast. FIVE ECONOMIC TESTS AS PRECONDITIONS Set out by Chancellor of Exchequer in Oct 1997 Used to decide for UK on the membership of Economic and Monetary Union (EMU) To adopt Euro currency and interest rate set by European Central Bank (ECB) Build on 4 key areas Benefit: trade, transparency and stability Constitutional issues: in nation interest, popular consent, clear and unambiguous Clear and unambiguous: Treasurys comprehensive and rigorous assessment Referendum: agreed by British people Five Economic Tests Are business cycles and economic structures compatible so that we and others could live comfortably with euro interest rates on a permanent basis? If problems emerge is there sufficient flexibility to deal with them? Would joining EMU create better conditions for firms making long-term decisions to invest in Britain? What impact would entry into EMU have on the competitive position of the UKs financial services industry, particularly the Citys wholesale markets? In summary, will joining EMU promote higher growth, stability and a lasting increase in jobs? UK Responses in 2003 assessment Significant progress on convergence, but the convergence test not met as there are still structural differences with the euro area, such as in the housing market. Therefore, UK are not confident of its business cycles being sufficient compatible with those of the euro area to allow the UK to live comfortably with euro area interest rates on a permanent basis. Flexibility has shown improvement for UK, but is still not confident that it is sufficient. Greater measures are been set out to meet the EMU requirement. UK agrees that joining EMU could potentially lower the cost for their companies which boost cross-border investment flows and foreign direct investment (FDI). On the other hand, it is also mentioned that if sustainable and durable convergence is achieved, only then can UK be confident that the investment test is met. UK agreed that entry EMU can enhance on the competitiveness of the companies while offering some other benefit and the financial services test is met Increase in jobs and lower cost of living can be achieved through increases in cross-border trade, investment, competition and productivity that EMU could provide. But again, it only sustainable and durable convergence has been achieved then can UK be confident to say that growth, stability and employment test is met. Overall, UK mentioned that improvement has been seen but it is still not ready the membership of EMU despite the risks and costs in the delay. According to Stathis Gould (2003) article, The test seem like a deliberate fudge and political excuse for UK to delay joining the single currency Loss of control such as interest rate to ECB EU Membership impose constraint on fiscal policy Joining euro could post threat as UKs record of foreign capital recipient is among the best mainly due to relatively light regulation Problem with the volatility of euro-dollar which is not tackle by ECB Factor that might really affect the join will be to reform or better leadership in ECB which is criticized for lack of transparency Another factor will be the increase in competitiveness and opening of labor, product and capital market According to James Igoe Walsh (2007) study, Britains economic cycle not synchronized with euro-zone and bringing Adopting single currency will harm foreign trade and investment Close look into the five excuses for Britains reluctance Divergent business cycles Convergence concern of losing the ability they now have to tailor monetary policy Not really the case inflation rates have essentially disappeared, as the two economies adopted the same interest rates and monetary integration promote business cycle convergence through greater trade and investment International trade and investment British invested more with North America and former colonies in the past, but it is not true now as many firms are also heavily invested in European Union. Joining the union benefits the large and growing number of firms and investors that trade with and invest in the rest of the Union. Overall, UK does have the capability to be in the EMU and by being in the euro member, it can really boost the economy of both their nation and other members Has been seen as delaying the membership deliberately Pressure for corporate in UK might also be another factor that influences their decision Furthermore, with recent issue of Greece, Portugal, and Spain which expose the flaws in Euro Single Currency, it will be even harder to convince UK entry SUCCESSFULNESS OF EURO SINGLE CURRENCY Main Benefits Lower cost of managing cash and raising capital Eliminate cost on converting currency from one country to another Broader, deeper and more efficient financial market result in further reduction in cost and access to a bigger capital pool Less currency risk Currency risk and the need to protect own business transactions are eliminated or reduced Simplify investment planning Bigger market Companies will compete in a larger and more integrated market Population adds up from the member countries to form bigger market Consumers are more readily to buy across border in euro-zone with no worry of different currencies and exchange-rate Over the years of Single Currency With information from Wim F.V Vanthoor (2000) study, Has high potential in it growth Created a market population bigger than US when group together Generated high share of world GDP (Gross Domestic Product) Created even higher world trade than that of US Compatible monetary value comparing with US with the aim as to compete with US dollar Aim not only Economically, but aims at going towards a political union In Martin Feldstein (2010) article, Crisis in Greece and the debt problems in Spain and Portugal exposed more flaws Individual member countries lost control of monetary policy and interest rates in order to respond to national economic conditions Exchange rate could not respond to the cumulative effects of differences in productivity and global demand trends. Weakens the market signals of fiscal deficits Eg. Greece ECB set monetary policy to the euro-zone as a whole even when it is not relevant to some members Despite all the problem, euro will likely still survive but the fundamental root problem might still remains Introduction of euro imply low interest rate to Greece and some other countries which previously has high rate, resulting in temptation for government to borrow. This drives the ratio of government debt to GDP to more than 100% for Greece and Italy. Until recently, bond markets treated all euro sovereign debts as virtually equal, not raising interest rates on high-debt countries until possibility of default became clear. Euro comparing with other currency Against US Dollar Euro shows it weaken and flaw especially with recent crisis As compared with US dollar which also operate on single currency with its fifty states, its lacks in 3 economic condition Labor mobility Labor in US move on to another area easily when one industry weaken in a certain part of the country Wherelse unemployed workers of euro member such as Greece, Portugal, and Spain do not move to faster-growing regions of Europe because of differences in language, history, religion, union membership, etc. Wage flexibility Substantially slower wage growth in the states that lost industries helped to attract and retain other industries Central fiscal authority fiscal system collects roughly two-thirds of all taxes at the national level, which can be transfer to the different states if it is falling short in income Euro comparing with other currency Against UK Sterling Pound Pound Sterling has become vastly more stable in the past decade and grown in stature as a reserve currency around the world Ironically it has benefited from being outside the Euro By not joining EMU, UK have retain their level of sovereignty and has better control and decision on solution to tackle their own economy Conclusion It seems that UK, Sweden and Denmark is going to stay out of the Euro zone for a while as mentioned by Vinocur N. (March 2010) Removing currency risk and driving integration with the European single market have been the main arguments that have put forward for the three nations to join the euro. But with Greece financial issues, with Ireland, Spain Portugal following suit, it made Euro Investec UK economist David Page mentioned that there is no chance that UK is joining the EU in the next 10 years. Conservative opposition front-runner David Cameron has declared that if he wins a general election expected in May, Britain will not join the euro as long as he is prime minister. Even though In year 2008, Sweden released a poll. It showed support for joining the euro had increased rapidly, with 44% of Swedes now in favour of joining the currency, up from 34.6% in May, while opposition dropped from 51.7% to 48% during the same period. (http://www.guardian.co.uk/business/2008/nov/27/euro-currencies-sweden-denmark) in March 2010 as reported by Nicholas Vinocur on Reuters: Swedens finance minister Anders Borg mentioned that. How well it is going in one country decides how well run the whole is, whether or not one has adopted the euro. Denmark is skeptical on joining the Euro. Danske Bank chief economist Steen Bocian, remains cautious for the next two years, due to Greece incident.