The Risk Inherent in Project of Harriet-Free-Samples for Students

Questions: 1.Provides a thorough and detailed explanation of his/her reaction to Harriet's suggestion, evaluating Harriet's idea and providing a strong rationale for his/her position. 2.Provides a thorough and detailed evaluation analyzing whether or not capital projects should have their own unique cost of capital rates for budgeting purposes, including a strong rationale for conclusions drawn, evaluating the relatively high risk inherent in Harriet's project, and recommending whether or not it should be budgeted at higher risk. 3.Student provides a thorough and detailed explanation of how he/she would factor the notion of risk into the analysis so that all competing projects that have relatively lower or higher risks can be evaluated on a level playing field. Student provides strong rationale for his or her approach to factoring in risk for such purposes. Answers: 1.The issue put forward in the question is that if a particular project is financed with the help of retained earnings and bonds will that be useful for the firm or not. In order to justify this statement at first the meaning of retained earnings must be understood. Retained earnings refer to the earnings that are kept aside as a reserve of cash with the main purpose of growing further business in the future. In simple terms retained earnings are nothing but profits or revenues kept aside by the company for further expansion or emergency purposes. Retained earnings can also be used for financing the day to day operations of the business. Now the paradox lies in the fact that investment if done with the help of retained earnings then the case becomes such that revenue is used for incurring more revenue or loss. Thus undertaking risk on the basis of already earned revenue has certain advantages and disadvantages (Brigham Houston, 2016). The advantage of financing projects with retaine d earnings is that the owner or the core management of the company is in total control of the situation, that is no involvement from any kind of third party has to be tolerated by the management in the matter of utilizing the retained earnings in the business. Using the retained earnings does not really add to the profile of debt and also no extra interest payments have to be done on the profits. Businesses using capital other than retained earnings are burdened with decisions from creditors or new partners or investors in such a way that the entire decision making process become an issue in itself. But companies using retained earnings enable them to keep away the unnecessary judgments or decisions from hampering the entire process (Shim, 2013). However there are also certain disadvantages that are related with the utilization of retained earnings. The first disadvantage is that the entire process of financing becomes slow. This is because in the procedure of collecting or retaining enough funds the chances to grab new business opportunities might be missed. Retained earnings are also used in the course of daily operations thus too much usage of retained earnings for the purpose of further expansion may undermine the purpose related to daily operation funding. Contrary to the above presented opinion, inclusion of new partners or investors in business may open brand new ways to business that might be very helpful for the business to prosper and grow (Atherton, 2012). Harriet though is of the opinion that retained earnings must be used so that the projected return is more but the conditions required to execute such a proposal should be checked by the management and then the final decision should be taken (De Mooij, 2012). 2.The issue presented in the question is that whether capital projects should have unique cost of capital rates for budgeting purposes or not. Capital projects should have unique cost of capital rates for budgeting purposes because this helps in assessing the economic sense of a particular project. In more simple terms the discounted net present value should be more than the expected costs of financing, then only a project is undertaken(Brigham Houston, 2016). The risk related to a particular project must be assessed as because projects with high risk have to have a higher percentage of discount than the historical weighted average cost of capital of the company. A unique rate of cost of capital enables a company to calculate the cost of capital accurately so that the net present value can be assessed properly (Humphrey, 2014). The risk inherent in Harriets project is high and should be budgeted at higher risk because when the retained earnings are used, the after tax cost of debt is reduced to 7% and as a result the weighted average cost of capital would come down to 3.5% thus the 10% projected return would be great (Godley Lavoie, 2016). 3.The issue presented in this particular question is that how the projects with higher or lower risks can be evaluated on a level playing field. This can be done by finding out the net present value of the project that should be more than the cost of capital related to that particular project. The different accounting methods used for this purpose are internal rate of return, accounting rate of return and pay-back period (Brigham Houston, 2016) References Atherton, A. (2012). Cases of start-up financing: An analysis of new venture capitalisation structures and patterns. International Journal of Entrepreneurial Behavior Research, 18(1), 28-47. Brigham, E. F., Houston, J. F. (2016). Fundamentals of financial management. Cengage Learning.( Chapter 10 pp. 340-360) De Mooij, R. A. (2012). Tax biases to debt finance: Assessing the problem, finding solutions. Fiscal Studies, 33(4), 489-512. Godley, W., Lavoie, M. (2016). Monetary economics: an integrated approach to credit, money, income, production and wealth. Springer. Humphrey, C. (2014). The politics of loan pricing in multilateral development banks. Review of International Political Economy, 21(3), 611-639. Shim, J. (2013). Bank capital buffer and portfolio risk: The influence of business cycle and revenue diversification. Journal of Banking Finance, 37(3), 761-772.

Reflection Paper About the Speech of Martin Luther King, Jr. I Have a Dream Delivered 28 August 1963, at the Lincoln Memorial, Washington D.C. Essay Example

Reflection Paper About the Speech of Martin Luther King, Jr. I Have a Dream Delivered 28 August 1963, at the Lincoln Memorial, Washington D.C. Paper Reflection Paper about the speech of Martin Luther King, Jr. I Have a Dream delivered 28 August 1963, at the Lincoln Memorial, Washington D. C. I Have a Dream is extremely emotional, a hopeful vision of the future of race in this country. King recognized that the March, with an attending crowd of over 200,000 as well as a national television audience, would be the perfect opportunity to gain support for the civil rights movement. He intended to persuade his audience of the justice of the cause, encourage them to not abandon hope, and warn them that in the process of gaining our rightful place we must not be guilty of illegal deeds, declaring his belief that nothing positive is accomplished through violence King. He designed his speech with those goals in mind. Kings understanding of the size and composition of his audience determined the rhetorical choices he made while composing his speech. It is important to understand that while hoping to influence the attitudes of an entire nation, King was primarily addressing a black audience. He spoke of generations of injustice, and referring to the recent increase in violence, stressed the importance of remaining non-violent. He warned against an attitude of distrust toward our white brothers who have come to realize that their freedom is inextricably bound to our freedom as evidenced by their presence here today. He is obviously speaking directly to black Americans. Because of this focus, King made rhetorical choices he knew would be familiar to a black audience with a shared cultural background. Those choices have proven powerful to people of all races, but they were selected with a black American audience in mind. The reasons for Kings rhetorical choices are frequently attributed to their special impact on black Americans, but it should be worried that the effectiveness of these choices crossed all racial boundaries. We will write a custom essay sample on Reflection Paper About the Speech of Martin Luther King, Jr. I Have a Dream Delivered 28 August 1963, at the Lincoln Memorial, Washington D.C. specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Reflection Paper About the Speech of Martin Luther King, Jr. I Have a Dream Delivered 28 August 1963, at the Lincoln Memorial, Washington D.C. specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Reflection Paper About the Speech of Martin Luther King, Jr. I Have a Dream Delivered 28 August 1963, at the Lincoln Memorial, Washington D.C. specifically for you FOR ONLY $16.38 $13.9/page Hire Writer King knew an emotional speech would have greater impact upon a large, outdoor crowd. He presented a beautiful and compelling vision of equality that inspired the crowd, expanded his national audience and ensured their attention to future messages. He wanted to reach the masses and did so. To inspire the crowd, to instill his speech with an emotional and spiritual quality, King utilized the delivery style of the black folk pulpit of which he was master. King, a master stylist, used a variety of rhetorical techniques in his speech. I Have a Dream needed to touch a wide range of people: people from different geographical locations, with different education backgrounds, of different color. King anticipated the importance of the March, knew he had a real opportunity to be heard by millions. He recognized the difficult demographics of the situation. The audience would be enormous and distractions would be inevitable in the wide open outdoor location. He also understood that the patience of black Americans was too sorely tried: black Americans would no longer be pacified with mere promises. And while understanding their frustration, King passionately wanted to convince the crowd to pursue their cause without violence. Because he understood of all of this, King chose not to focus on detail, not to focus on strategy. He appealed to the crowds higher emotions of spirituality and patriotism. God was on their side, their struggle would be rewarded. Currently, â€Å"I Have a Dream† is still considered a deep work studied in both literature and speech classes. â€Å"I Have a Dream† is a masterpiece which describes, with wisdom and compassion, a peoples long struggle for equality.

Free Essays on World War II

The most sinister and evil war in world history was fought from 1939 to 1945. This war came to be known as World War II (WWII). The entire world was at war. On one side there was the Allied Powers and on the other side there was the Axis Powers. The Allied Powers included the United States (didn’t join until 1941), France, Great Britain, and the Soviet Union (didn’t join until 1941). The Axis Powers included Germany, Italy, and Japan. The United States fought two wars, one in Europe and the other in the Pacific. When Japan bombed the U.S.’s Naval base in Pearl Harbor, Hawaii the United States entered WWII the next day. Franklin Roosevelt called it â€Å"a ate which will live in infamy.† (Cybriwsky, Encarta) In 1853 Commodore Matthew Perry was sent to Japan on a peace mission. (Cybriwsky, Encarta) Japan was still in the feudal age where the Shogun was the head of the government and the Emperor was just the face of the government. They were still living in the medieval age. In the process Perry showed the Japanese all of his modern tools and weapons. This in fact triggered the industrialization of Japan. The war brought an economic boom to the small island nation. The Imperialism age soon came to Japan and they decided to do the same thing every other country started to do in the latter part of the 19th century. As of 1900 the Japanese spheres of influence had reached Korea, Russia, Taiwan (then known as Formosa), and parts of China. (Boorstin and Kelly, PG. 427) In WWI Japan joined the side of the Allies against Germany and the Austria-Hungarian Empire. (Boorstin and Kelly, PG. 455) In 1904 Japan attacked the largest country in the world at Port Arthur, Russia. Then the Russo-Japanese War followed. After one year of battle the Russians were ready to negotiate. Japan got possession a Russian island and the Liaodong Peninsula. (Cybriwsky, Encarta) Japan had defeated the largest country in the world. In 1906 Japan took over Kore... Free Essays on World War II Free Essays on World War II The most sinister and evil war in world history was fought from 1939 to 1945. This war came to be known as World War II (WWII). The entire world was at war. On one side there was the Allied Powers and on the other side there was the Axis Powers. The Allied Powers included the United States (didn’t join until 1941), France, Great Britain, and the Soviet Union (didn’t join until 1941). The Axis Powers included Germany, Italy, and Japan. The United States fought two wars, one in Europe and the other in the Pacific. When Japan bombed the U.S.’s Naval base in Pearl Harbor, Hawaii the United States entered WWII the next day. Franklin Roosevelt called it â€Å"a ate which will live in infamy.† (Cybriwsky, Encarta) In 1853 Commodore Matthew Perry was sent to Japan on a peace mission. (Cybriwsky, Encarta) Japan was still in the feudal age where the Shogun was the head of the government and the Emperor was just the face of the government. They were still living in the medieval age. In the process Perry showed the Japanese all of his modern tools and weapons. This in fact triggered the industrialization of Japan. The war brought an economic boom to the small island nation. The Imperialism age soon came to Japan and they decided to do the same thing every other country started to do in the latter part of the 19th century. As of 1900 the Japanese spheres of influence had reached Korea, Russia, Taiwan (then known as Formosa), and parts of China. (Boorstin and Kelly, PG. 427) In WWI Japan joined the side of the Allies against Germany and the Austria-Hungarian Empire. (Boorstin and Kelly, PG. 455) In 1904 Japan attacked the largest country in the world at Port Arthur, Russia. Then the Russo-Japanese War followed. After one year of battle the Russians were ready to negotiate. Japan got possession a Russian island and the Liaodong Peninsula. (Cybriwsky, Encarta) Japan had defeated the largest country in the world. In 1906 Japan took over Kore... Free Essays on World War II World War II produced many heroes. One such man was Lieutenant Commander Butch O'Hare. He was a fighter pilot assigned to an aircraft carrier Lexington in the South Pacific. One day his entire squadron was sent on a mission. After he was airborne, he looked at his fuel gauge and realized that someone had forgotten to top off his fuel tank. He would not have enough fuel to complete his mission and get back to his ship. His flight leader told him to return to the carrier. Reluctantly he dropped out of formation and headed back to the fleet. As he was returning to the mother ship, he saw something that turned his blood cold. A squadron of Japanese bombers were speeding their way toward the American fleet. The American fighters were gone on a sortie and the fleet was all but defenseless. He couldn't reach his squadron and bring them back in time to save the fleet. Nor could he warn the fleet of the approaching danger. There was only one thing to do. He must somehow divert them from the fleet. Laying aside all thoughts of personal safety, he dove into the formation of Japanese planes. Wing-mounted 50 caliber's blazed as he charged in, attacking one surprised enemy plane and then another. Butch weaved in and out of the now broken formation and fired at as many planes as possible until finally all his ammunition was spent. Undaunted, he continued the assault. He dove at the planes, trying to at least clip off a wing or tail, in hopes of damaging as many enemy planes as possible and rendering them unfit to fly. He was desperate to do anything he could to keep them from reaching the American ships. Finally, the exasperated Japanese squadron took off in another direction. Deeply relieved, Butch O'Hare and his tattered fighter limped back to the carrier. Upon arrival he reported in and related the event surrounding his return. The film from the camera mounted on his plane told the tal...

What Was the Umayyad Caliphate

What Was the Umayyad Caliphate The Umayyad Caliphate was the second of four Islamic caliphates and was founded in Arabia after the Prophet Muhammads death. The Umayyads ruled the Islamic world from 661 to 750 C.E. Their capital was in the city of Damascus; the founder of the caliphate, Muawiya ibn Abi Sufyan, had long been the governor of Syria. Originally from Mecca, Muawiya named his dynasty the Sons of Umayya after a common ancestor he shared with the Prophet Muhammad. The Umayyad family had been one of the major combatant clans in the Battle of Badr (624 CE), the decisive battle between Muhammad and his followers on the one hand, and the powerful clans of Mecca on the other. Muawiya triumphed over Ali, the fourth caliph, and Muhammads son-in-law, in 661, and officially founded the new caliphate. The Umayyad Caliphate became one of the major political, cultural, and scientific centers of the early medieval world.    The Umayyads also began the process of spreading Islam throughout Asia, Africa, and Europe. They moved into Persia and Central Asia, converting the rulers of key Silk Road oasis cities such as Merv and Sistan.   They also invaded what is now Pakistan, beginning the process of conversion in that area that would continue for centuries. Umayyad troops also crossed Egypt and brought Islam to the Mediterranean coast of Africa, from whence it would disperse south across the Sahara along caravan routes until much of West Africa became Muslim. Finally, the Umayyads waged a series of wars against the Byzantine Empire based in what is now Istanbul. They sought to overthrow this Christian empire in Anatolia and convert the region to Islam; Anatolia would eventually convert, but not for several centuries after the collapse of the Umayyad Dynasty in Asia. Between 685 and 705 CE, the Umayyad Caliphate reached its apex of power and prestige. Its armies conquered areas from Spain the west to Sindh in what is now India. One after another, additional Central Asian cities fell to the Muslim armies - Bukhara, Samarkand, Khwarezm, Tashkent, and Fergana. This rapidly expanding empire had a postal system, a form of banking based on credit, and some of the most beautiful architecture ever seen. Just when it seemed that the Umayyads truly were poised to rule the world, however, disaster struck. In 717 CE, the Byzantine emperor Leo III led his army to a crushing victory over the Umayyad forces, which had been besieging Constantinople. After 12 months trying to break through the citys defenses, the hungry and exhausted Umayyads had to retreat empty-handed back to Syria. A new caliph, Umar II, tried to reform the financial system of the caliphate by increasing the taxes on Arab Muslims to the same level as taxes on all other non-Arab Muslims. This caused a huge outcry among the Arab faithful, of course, and caused a financial crisis when they refused to pay any taxes at all. Finally, renewed feuding broke out among the various Arab tribes around this time, leaving the Umayyad system tottering. It managed to press on for a few more decades. Umayyad armies got as far into western Europe as France by 732, where they were turned back at the Battle of Tours. In 740, the Byzantines dealt the Umayyads another shattering blow, driving all Arabs from Anatolia. Five years later, the simmering feuds between the Qays and Kalb tribes of Arabs erupted into full-scale war in Syria and Iraq. In 749, religious leaders proclaimed a new caliph, Abu al-Abbas al-Saffah, who became the founder of the  Abbasid Caliphate. Under the new caliph, members of the old ruling family were hunted down and executed. One survivor, Abd-ar-Rahman, escaped to Al-Andalus (Spain), where he founded the Emirate (and later Caliphate) of Cordoba. The Umayyad caliphate in Spain survived until 1031.

Liquidity Ratios for GM and Ford Essay Example | Topics and Well Written Essays - 1000 words

Liquidity Ratios for GM and Ford - Essay Example From this paper it is clear that  the higher the ratio the better it is for the company in theory but this does not hold truth in the real world situation. Despite the current ratio being used extensively in financial reporting, the ratio can be very misleading. In the real world situation, a high ratio does not necessary imply good liquidity position and a low current ratio does not necessary imply a bad liquidity position. This norm is contrary to the common belief of the current ratio as an adequate indicator of an entity’s liquidity. The ratio conceptualizes liquidation as the ability of a company’s current assets to offset its current liabilities. In the real sense, this does not occur as the investors’ measure a company, s liquidity as the going concern of the entity.  This essay stresses that  the first company has longer accounts receivables days and a low inventory turnover. The second company has a short accounts receivables period and a higher in ventory turnover. The first company has a higher current ratio than the second company does but this does not imply that the company has a better liquidity position. This is because working capital but the cash do not pay the current obligations and since it does not converts its current easily into cash; the company is illiquid. The general concept and basis of the quick ratio is similar to that of the current ratio as it gives the users of the ratio an idia to determine the company's ability to offset its short-term obligations using its short-term assests.  Ã‚  

A Street Car Named Desire Essay Example | Topics and Well Written Essays - 750 words

A Street Car Named Desire - Essay Example This aspect comes out clearly in streetcar named desire whereby all the characters involved in the play have a need or desire that makes them stay in the relationship. The paper will explore how drama surrounds the individual and not the relationship by use of examples from the streetcar named desire. In the play, there are different characters that have been named according to their roles. There is Blanche Dubois, who is a classy woman that comes from an affluent part of the Mississippi (Williams 1-87). The other character is Stella Kalowaski who is a woman under constant duress most of which comes from the husband Stanley Kowalski. The other prominent character is Mitchel Hartford. He is a friend and a poker playmate of Stanley. All the characters named above are seen as the main character in that the theme of the play revolves around them. However, other minor characters support the role of the main characters such as the deceased husband of Blanche, the post boy, the man that was found with Blanche’s husband. An analysis of Blanche indicates that in all the relationships that she formed her inherent approach to the narrations of her past are fallacies (Williams 1-87). She is a character that lacks a stand such that the information that she provides about the loss of her house is not real. She does not want to accept the disgrace that came with the death of her young husband. This makes her selfish gains to have a central role in the decision-making process. She is so unstable in her relations such that she has earned the attention of the soldiers. At the beginning of the play, the character is unwilling to stay with Stella and her husband since she does not approve of their living standards (Williams 1-87). However, he lacks and wants makes her accept to stay since this is a last resort measure. In fact, she established the relationships in order for her to attain her individual goals.  

Annie’s Advice Quotes Essay Example for Free

Annie’s Advice Quotes Essay Dear Annie, The other day, I got Chinese take-out and the lady at the till offered me a cookie and told me that the fortunes actually come true. The cookie told me I was gonna be king! I immediately knew it was referring to homecoming king at the dance next Saturday, but the surprising thing was that it seemed like everyone was already voting for one of my friends, the captain of the football team. He IS the most popular guy in school. But I really wanna be king too! My girlfriend thinks I should embarrass my friend so that he loses some popularity votes, but if people find out it was me, it could really hurt my reputation. I don’t know what to do-please help! -Wannabe King Dear Wannabe, I have two things to say to you. Firstly, I don’t believe in fortune cookiesespecially ones that say you’ll become king, secondly, get a new girlfriend! The cookie merely states what might happen, you shouldn’t take it too seriously and definitely don’t take matters into your own hands. If it is saying the truth then you’ll become homecoming king and if the â€Å"Chinese prophecies† are wrong, you won’t. As someone once said, Theres no use trying to rush fate, because the best things in life are worth the wait. You’ll live both ways so I don’t know why your girlfriend is guiding you to the wrong path especially when it would hurt a friend. If you possess the qualities of a king you might eventually become one! -Annie Dear Annie, My friend and I love playing soccer, he was really enthusiastic and always thought of the better of the team, therefore he was voted captain of our school’s soccer team. He was super thrilled, and so was Iat first. As I watched him at practice he began to act differently. He started bossing us around and would get really frustrated when we messed up. As captain he decided he had the authority to put people down, including his friends. I am really worried for him because he’s losing his friends and if he keeps going at this rate he might even be kicked off the team. I really want to help him but I don’t know how. I have a feeling his hubris is getting to him. Do you have any suggestions on how I could help? -Worried friend Dear Worried, WhoaHUBRIS? I have to admit, I looked that up. But I agree; that is a great way to describe your friend’s situation. Read the quote of the day above. Things like this are bound to happen when you get power. Mr. â€Å"Captain† over there has some overflowing pride in him which is making him act like a jerk. Have a talk with him, tell him how you feel the team is breaking apart and bring forward the consequences he might have to face in case things go out of hand. I am sure he will understand and kudos to you for looking out for him! -Annie Dear Annie, The girl I have a crush on forgot to do her homework, so to impress her, I gave her mine. But then I didn’t have my own work and the teacher would get really mad at me so I stole Kevin’s (a classmate). I’m really afraid that he will find out and snitch on me. Whenever he walks up to me I get really nervous and make sure nothing gives it away. I really can’t get it off my mind. I know I shouldn’t have done it in the first place and I’m really disappointed that I tried to impress my crush like that, I didn’t know the consequences! How should I deal with it? I feel like I will never be forgiven. I don’t usually do things like this. Should I fess up? Should I just deal with the fear? Help me! -P.I.M.P. (Pissing In My Pants) Dear P.I.M.P., Creative name there, is the irony intended? I’m guessing you’re still young, you don’t need to sacrifice something to earn a girls respect. She should like you for who you are. It was your fault and your decision that led to the cost. Make sure you think before you act in life and apologize to your classmate and teacher, they will understand, people make mistakes. Some detention is better than dealing with the guilt and paranoia. Next time think about, if what you gain is worth the consequences. -Annie Dear Annie, I was recently offered a job to be a director at a large multinational company, but I am hesitating to accept it. My fiancà ©e thinks it is a really good opportunity and is pushing me towards it. The company already has a director but they requested me to join as I have higher qualifications. Accepting the offer would get the current director fired. I agree that it’s a good opportunity but I’d hate to do that to someone for my own purposes when I already have a decent job. My fiancà ©e keeps threatening our wedding and whether I am capable of supporting her and her future children. She has basically dictated that if I do not take the offer she will no longer have respect for me. I really love her and want to see her happy, should I be agreeing with her? -Future Groom? Dear Future Groom, You’re a groom not a broom! Talk it out with your fiancà ©e and make her understand that your current job will keep her and YOUR children secure. If it will really hurt your morals to take the job away from somebody then you should tell her this and hopefully if she loves you as much she will see your point. If she doesn’t and still threatens your marriage hkgold your stand and don’t let her control your actions, be a man! -Annie 998 words Rationale For this assignment, I chose to do an advice column where people write to â€Å"Annie† about their problems, seeking guidance. The advice seekers’ circumstances represent those of Macbeth and Annie brings to notice the lessons that can be learnt from them. She gives positive guidance whereas in the play the opposite happens. The reason behind Annie answering the questions in this way is to emphasize on the morals of the play. Annie also has a funny edge to her in a way that displays her persona. I believe she is a cheerful young lady who speaks the truth and uses humour so that people feel comfortable talking to her. The questions show my understanding of how power corrupts in Macbeth and some of the lenses whereas the answers portray my understanding of the themes. I thought an advice column was a creative way to show the message that people should take out of reading or watching Macbeth. The reason I didn’t just use actual Macbeth situations was because I was aiming it at a younger, contemporary audience so that they can understand it thoroughly and also it shows that the similar situations to the ones Shakespeare used in the past can occur in the present. The fact that the situations are realistic also gives reason to why the morals are important because they can be easily applied to daily life to make you a better, wiser person unlike Macbeth. Most advice columns have some sort of heading, mines a quote. The quote at the top of the page explains to the readers the main message of the pieces following and is the topic for that week’s advice. I did this so I could organise my writing better as well as I thought it was an imaginative start to the task.