Citibank Performance Evaluation Case Study

Annual Report Consolidated and Statutory Financial Statements at December 31, 2006 101st fiscal year Fiat S. p. A. Financial Statements at December 31, 2006 234 Financial Review of Fiat S. p. A. 238 Income Statement 239 Balance Sheet 240 Statement of Cash Flows 241 Statement of Changes in Stockholders’ Equity I am enough of an artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world. Albert Einstein 242 Income Statement pursuant to Consob Resolution No. 5519 of July 27, 2006 243 Balance Sheet pursuant to Consob Resolution No. 15519 of July 27, 2006 244 Notes to the Financial Statements 301 Appendix – Transition of the Parent Company Fiat S. p. A. to International Financial Reporting Standards (IFRS) Financial Review of Fiat S. p. A. The financial statements illustrated and commented on in the following pages have been prepared on the basis of the company’s statutory financial st atements at December 31, 2006 to which reference should be made. In compliance with European Regulation no. 606 of July 19, 2002, starting from 2005 the Fiat Group has adopted International Financial Reporting Standards (â€Å"IFRS†) issued by the International Accounting Standards Board (â€Å"IASB†) in the preparation of its consolidated financial statements. On the basis of national laws implementing that Regulation, starting from 2006 the Parent Company Fiat S. p. A. is presenting its financial statements in accordance with IFRS, which are reported together with comparative figures for the previous year. Operating PerformanceSpecifically: Personnel and operating costs, totalling 199 million euros, comprise 58 million euros in personnel costs (60 million euros in 2005), and 141 million euros in other operating costs (121 million euros in 2005), which include the costs for services, amortisation and depreciation and other operating costs. These costs increased as a w hole by 18 million euros from 2005 as a result of non-recurring charges. In 2006, the average headcount was 140 employees, compared with an average of 133 employees in 2005.The company’s Income Statement is summarised in the following table: Investment income – Dividends – (Impairment losses) reversals – Gains (losses) on disposals Personnel and operating costs net of other revenues Income (expenses) from significant non-recurring transactions Financial income (expenses) Financial income from significant non-recurring transactions Income taxes Net income Personnel and operating costs net of other revenues total 120 million euros, compared with 109 million euros in 2005. IThe Parent Company earned net income of 2,343 million euros in 2006, 1,226 million euros higher than in 2005 when the result included net non-recurring income of 1,714 million euros. (in millions of euros) Business Solutions S. p. A. (for a total of 147 million euros), net of the revaluat ion of the investments held in Fiat Netherlands Holding N. V. (376 million euros due to the positive performance of the CNH and Iveco subsidiaries), Magneti Marelli Holding S. p. A. (144 million euros) and minor companies. 2006 2005 2,461 62 2,099 – (120) – (24) – 26 2,343 (424) 8 (431) (1) (109) 1,133 (62) 858 (279) 1,117 Investment income totals 2,461 million euros compared with investment expense of 424 million euros in 2005 and consists of dividends received during the period and reversal of impairment losses (net of write-downs) of investments. Specifically: Dividends total 362 million euros and were received from the subsidiaries IHF – Internazionale Holding Fiat S. A. (259 million euros), Fiat Finance S. p. A. (75 million euros) and other companies.In 2005 dividends received from investments totalled 8 million euros. I Impairment loss reversals (net of write-downs) of 2,099 million euros resulted from the revaluation of the investments in the subsi diaries Fiat Partecipazioni S. p. A. (1,388 million euros mainly connected to Fiat Auto), Iveco S. p. A. (946 million euros) and Fiat Netherlands Holding N. V. (96 million euros connected to CNH), all written-down in previous years, net of the impairment loss recognised on the investment in Comau S. p. A. (330 million euros).I Other revenues , totalling 79 million euros (72 million euros in 2005), principally refer to the change in contract work in progress (agreements between Fiat S. p. A. and Treno Alta Velocita – T. A. V. S. p. A. ), which is measured by applying the percentage of completion to the total contractual value of the work, to royalties for the use of the Fiat trademark, calculated as a percentage of the revenues generated by the Group companies that use it, and the services of executives at the principal companies of the Group.The increase from 2005 is mainly attributable to higher charges for the use of the trademark. No Income (expenses) from significant non- recurring transactions is reported in 2006. In 2005 a gain of 1,133 million euros (net of related costs) was recorded on the transaction regarding the termination of the Master Agreement with General Motors. In 2006, there were net financial expenses of 24 million euros, arising from the interest charges on the Company’s debt, which was partially offset by the gain resulting from derivative financial instruments.In 2005 there were net expenses of 62 million euros mainly arising from the interest expenses connected with the Mandatory Convertible Facility. No Financial income from significant non-recurring transactions is reported in 2006. In 2005 this item included income of 858 million euros resulting from the capital increase of September 20, 2005 with the simultaneous conversion of the Mandatory Convertible Facility. The income represents the difference between the subscription price of the new shares issued and the stock market price of the shares at the subscription date, net of issuance costs.I In 2005, net impairment losses recognised on investments totalled 431 million euros, mainly due to losses from the investments in Fiat Partecipazioni S. p. A. (811 million euros connected mainly to the losses of Fiat Auto), Teksid S. p. A. , Comau S. p. A. and 234 Financial Review of Fiat S. p. A. The income tax revenue of 26 million euros is the net result of the remuneration for the tax loss brought into the national tax consolidation by Fiat S. p. A. in 2006 to offset the income reported by the Group’s Italian companies, and the IRAP charge recognised for the period.Income tax expenses of 279 million euros in 2005 consisted of the reversal of deferred tax assets of 277 million euros, recognised in the financial statements at December 31, 2004 in relation to the settlement subsequently made with General Motors for the termination of the Master Agreement. Financial Review of Fiat S. p. A. 235 Balance Sheet Highlights of the Parent Company’s Ba lance Sheet are illustrated in the following table: (in millions of euros) Non-current assets – of which: Investments Working capital Total net invested capital Stockholders’ equityNet debt (liquid funds) At December 31, 2006 At December 31, 2005 14,559 14,500 167 14,726 10,374 4,352 5,168 5,118 303 5,471 7,985 (2,514) Current financial payables consist of the overdraft with the subsidiary Fiat Finance S. p. A. and short-term financing received from that company, as well as payables to factoring companies for advances on receivables. Non-current financial payables consist almost entirely of loans repayable in the 2010-2013 period granted by the subsidiary Fiat Finance S. p. A. at market rates as part of the recapitalisation of subsidiaries discussed above.At December 31, 2005 financial receivables related to short-term financing of 2,700 million euros granted to the subsidiary Fiat Finance S. p. A. and due in 2006, and to cash deposited on the current account held with that company. For a more complete analysis of cash flows, reference should be made to the Statement of Cash Flows set out on the following pages as part of the statutory financial statements of the Parent Company Fiat S. p. A. Reconciliation between the Parent Company’s equity and its result for the year with those of the GroupNon-current assets mainly include investments in the relevant subsidiaries of the Group. The net increase of 9,382 million euros in investments as compared to December 31, 2005 stems from net write-ups arising from the reversal of previously recognised impairment losses and recapitalisations of 6,361 million euros carried out during the year in the subsidiaries Fiat Partecipazioni S. p. A. (6,000 million euros), Fiat Netherlands Holding N. V. (121 million euros) and Comau S. p. A. (240 million euros), in order to re-balance the equity structure inside the Group and cover losses, as well as the re-purchase from Mediobanca S. . A. of 28. 6% of the shares of Ferrari S. p. A. (893 million euros) upon exercise of the call option provided for in the 2002 agreements, which brought the investment to an 85% stake. Working capital, which totalled 167 million euros, consists of inventories net of advances received, trade, tax and employee receivables/payables, other receivables/payables and provisions. The 136 million euro decrease over December 31, 2005 is mainly attributable to the refund of VAT receivables by the Tax Authorities.Stockholders’ equity at December 31, 2006 totalled 10,374 million euros, reflecting an increase of 2,389 million euros as compared to December 31, 2005 due to the positive result of the year (2,343 million euros) and other minor changes (including 28 million euros resulting from marking to market the fair value carrying amount of the Mediobanca shareholding). Pursuant to the Consob Communication of July 28, 2006, set out below is a reconciliation between the Parent Company’s equity at December 31, 2 006 and its result for the year then ended with those of the Group (Group interest). (in millions of euros) Stockholders’ equity atDecember 31, 2006 Financial Statements of Fiat S. p. A. Elimination of the carrying amounts of consolidated investments and the respective dividends from the financial statements of Fiat S. p. A. Elimination of the reversal of impairment losses (net of recognised impairment losses) of consolidated investments Equity and results of consolidated subsidiaries Consolidation adjustments: Elimination of intercompany profits and losses on the sale of investments Elimination of intercompany profits and losses in inventories and fixed assets and other adjustments Consolidated financial statements (Group interest) 2006 Net result 10,374 2,343 14,211) – 13,404 (346) (2,099) 1,229 – (205) 9,362 (41) (21) 1,065 For a more complete analysis of the changes in stockholders’ equity, reference should be made to the relevant table set out in the following pages as part of the statutory financial statements of the Parent Company Fiat S. p. A. Net debt totalled 4,352 million euros at December 31, 2006 compared with net liquid funds of 2,514 million euros at December 31, 2005. The use of the liquid funds balance at the beginning of the year and the subsequent accumulation of debt are the consequence of the previously mentioned recapitalisations of subsidiaries and purchase of Ferrari S. . A. shares. A breakdown of net debt is illustrated in the following table: (in millions of euros) Financial receivables, cash and cash equivalents Current financial payables Non-current financial payables Net debt (net liquid funds) 236 Financial Review of Fiat S. p. A. At December 31, 2006 At December 31, 2005 (85) 1,627 2,810 4,352 (3,076) 557 5 (2,514) Financial Review of Fiat S. p. A. 237 Income Statement (in euros) Dividends and other income from investments (Impairment losses) reversal of impairment losses of investments Gains (losses) on the disposal of investments Other operating income Personnel costsOther operating costs Income (expenses) from significant non-recurring transactions Financial income (expenses) Financial income from significant non-recurring transactions Result before taxes Income taxes Result from continuing operations Result from discontinued operations Net result Balance Sheet (*) Note 2006 2005 (1) 362,418,522 2,099,350,000 425,380 79,238,202 (57,899,516) (141,006,254) – (24,846,809) – 2,317,679,525 (25,695,447) 2,343,374,972 – 2,343,374,972 7,713,904 (430,788,686) (1,300,134) 72,853,610 (60,027,274) (121,360,013) 1,133,110,377 (61,685,499) 857,636,269 1,396,152,554 278,827,554 ,117,325,000 – 1,117,325,000 (2) (3) (4) (5) (6) (7) (8) (9) (10) (*) Pursuant to Consob resolution no. 15519 of July 27, 2006 effects of transactions with related parties on the Income Statement of Fiat S. p. A. are included in the specific income statement schedule reported in the followi ng pages and also provided in the comments of the single items and in Note 30. (*) (in euros) ASSETS Non-current assets Intangible assets Property, plant and equipment Investments Other financial assets Other non-current assets Deferred tax assets Total Non-current assets Current assets Inventories Trade receivablesCurrent financial receivables Other current receivables Cash and cash equivalents Total Current assets Assets held for sale TOTAL ASSETS STOCKHOLDERS’ EQUITY AND LIABILITIES Stockholders’ equity Capital stock Additional paid-in capital Reserve under law no. 413/1991 Legal reserve Reserve for treasury stock in portfolio Extraordinary reserve Retained earnings (losses) Treasury stock Gains (losses) recognised directly in equity Stock option reserve Net result Total Stockholders’ equity Non-current liabilities Provisions for employee benefits and other non-current provisions Non-current financial payablesOther non-current liabilities Deferred tax liabili ties Total Non-current liabilities Current liabilities Provisions for employee benefits and other current provisions Trade payables Current financial payables Other payables Total Current liabilities Liabilities held for sale TOTAL STOCKHOLDERS’ EQUITY AND LIABILITIES Note At December 31, 2006 At December 31, 2005 (11) 771,530 37,252,689 14,499,594,748 20,134,319 1,573,473 – 14,559,326,759 675,599 39,658,553 5,117,531,801 5,335,175 4,501,747 – 5,167,702,875 – 154,692,452 84,173,202 626,428,489 608,105 865,902,248 – 15,425,229,007 – 215,652,499 3,075,893,885 799,919,053 95,235 4,091,960,672 – 9,259,663,547 6,377,257,130 1,540,856,410 22,590,857 446,561,763 24,138,811 6,134,851 (553,411,863) (24,138,811) 162,764,566 27,399,708 2,343,374,972 10,373,528,394 6,377,257,130 681,856,410 22,590,857 446,561,763 27,709,936 334,633 (811,736,863) (27,709,936) 134,267,390 16,102,522 1,117,325,000 7,984,558,842 18,104,487 2,810,029,000 20,000,576 3, 438,000 2,851,572,063 29,170,653 5,262,000 16,861,109 – 51,293,762 26,790,951 184,660,883 1,627,429,902 361,246,814 2,200,128,550 – 15,425,229,007 30,990,501 385,182,033 557,382,830 250,255,579 1,223,810,943 – 9,259,663,547 (12) (13) (14) (15) 10) (27) (16) (17) (18) (19) (20) (21) (22) (23) (10) (24) (25) (26) (27) (*) Pursuant to Consob resolution no. 15519 of July 27, 2006 effects of transactions with related parties on the Balance Sheet of Fiat S. p. A. are included in the specific balance sheet schedule reported in the following pages and also provided in the comments of the single items and in Note 30. 238 Fiat S. p. A. Financial Statements at December 31, 2006 Fiat S. p. A. Financial Statements at December 31, 2006 239 Statement of Changes in Stockholders’ Equity Statement of Cash Flows (in thousands of euros) 2006 2005 (in thousands of euros)A) Cash and cash equivalents at beginning of period B) Cash flows from (used in) operating activities durin g the period: Net result for the period Amortisation and depreciation Non-cash gain from extinguishment of the Mandatory Convertible Facility Non-cash stock option costs (Impairment losses) reversals of impairment losses of investments Capital losses/gains on the disposal of investments Change in provisions for employee benefits and other provisions Change in deferred taxes Change in working capital Total C) Cash flows from (used in) investment activities: Investments: – Recapitalisations of subsidiaries – AcquisitionsOther investments (tangible and intangible assets and other financial assets) Proceeds from the sale of: – Investments – Other non-current assets (tangible, intangible and other) Total D) Cash flows from (used in) financing activities: Change in current financial receivables Change in non-current financial payables Change in current financial payables Capital increase Sale of treasury stock Dividend distribution Total E) Total change in cash and cash equivalents F) Cash and cash equivalents at end of period 495 325 2,343,375 2,882 – 11,297 (2,099,350) (329) 7,990 3,438 151,872 421,175 1,117,325 2,918 (859,000) 10,041 430,789 (93) ,100 277,000 (76,028) 905,052 Capital stock Additional paid-in capital Reserve under law no. 413/1991 Legal reserve Reserve for treasury stock in portfolio Extraordinary reserve Retained earnings (losses) Treasury stock Gains (losses) recognised directly in equity Stock option reserve Net result for the period Total Stockholders’ equity At December 31, 2004 Capital increase for conversion of the Mandatory Convertible Facility 4,918,113 – 22,591 446,562 26,413 1,632 (813,435) (26,413) 74,397 6,062 2,141,000 Valuation of stock option plans and other changes Net result for the period At December 31, 2005 10,442 1,117,325 1,117,325 ,377,257 681,856 22,591 446,562 27,710 335 (811,737) (27,710) 134,267 16,103 1,117,325 7,984,559 Valuation of stock option plans and other changes Net result for the period At December 31, 2006 1,459,144 681,856 4,655,922 Fair value adjustments recognised directly in equity 1,297 (1,297) 1,698 (1,297) 59,870 10,041 59,870 (*) (*) Treasury stock at December 31, 2005 consists of 4,331,708 ordinary shares for a total nominal value of 21,659 thousand euros. (6,361,126) (919,412) (15,529) (165,193) – (1,808) 2,357 313 (7,293,397) (a) – 261 (166,740) 2,991,721 2,804,767 1,070,047 – 5,800 – 6,872,335 113 608 (753,091) – 14,548 – 401 – 738,142) 170 495 At December 31, 2005 Capital stock Additional paid-in capital Reserve under law no. 413/1991 Legal reserve Reserve for treasury stock in portfolio Extraordinary reserve Retained earnings (losses) Treasury stock Gains (losses) recognised directly in equity Stock option reserve Net result for the period Total Stockholders’ equity 6,377,257 681,856 22,591 446,562 27,710 335 (811,737) (27,710) 134,267 16,103 1,117,325 7,984,559 Allocat ion of the net result for the prior period Fair value adjustments recognised directly in equity 859,000 (3,571) 5,800 258,325 3,571 28,497 11,297 (1,117,325) – 28,497 2,343,375 2,343,375 7,097 6,377,257 1,540,856 22,591 446,562 24,139 6,135 (553,412) (24,139) (*) 162,764 27,400 2,343,375 10,373,528 (*) Treasury stock at December 31, 2006 consists of 3,773,458 ordinary shares for a total nominal value of 18,867 thousand euros. (a) In 2005, the item â€Å"Capital increase† is shown net of the repayment of the Mandatory Convertible Facility (3 billion euros), as it did not give rise to cash flows. Statement of total recognised income and expenses for 2006 and 2005 (in thousands of euros) Gains (losses) recognised directly in the fair value reserve (investments in other companies) Gains (losses) recognised directly in equityTransfer from cash flow hedge reserve Net result for the period Total of recognised income (expense) for the period 240 Fiat S. p. A. Financial Stateme nts at December 31, 2006 2006 2005 28,497 28,497 – 2,343,375 2,371,872 58,958 58,958 912 1,117,325 1,177,195 Fiat S. p. A. Financial Statements at December 31, 2006 241 Income Statement Balance Sheet pursuant to Consob Resolution No. 15519 of July 27, 2006 pursuant to Consob Resolution No. 15519 of July 27, 2006 (in thousands of euros) Dividends and other income from investments (Impairment losses) reversal of impairment losses of investments Gains (losses) on the disposal of investmentsOther operating income Personnel costs Other operating costs Income (expenses) from significant non-recurring transactions Financial income (expenses) Financial income from significant non-recurring transactions Result before taxes Income taxes Result from continuing operations Result from discontinued operations Net result 242 Fiat S. p. A. Financial Statements at December 31, 2006 Note 2006 (1) 362,419 2,099,350 425 79,238 (57,900) (141,006) – (24,847) – 2,317,679 (25,696) 2,34 3,375 – 2,343,375 (2) (3) (4) (5) (6) (7) (8) (9) (10) of which Related parties (Note 30) 33,200 (51,901) (17,765) 2005 7,714 430,789) (1,300) 72,854 (60,027) (121,360) 1,133,110 (61,685) 857,636 1,396,153 278,828 1,117,325 – 1,117,325 of which Related parties 24,256 (54,477) 106,259 (in thousands of euros) ASSETS Non-current assets Intangible assets Property, plant and equipment Investments Other financial assets Other non-current assets Deferred tax assets Total Non-current assets Current assets Inventories Trade receivables Current financial receivables Other current receivables Cash and cash equivalents Total Current assets Assets held for sale TOTAL ASSETS STOCKHOLDERS’ EQUITY AND LIABILITIES Stockholders’ equity Capital stockAdditional paid-in capital Reserve under law no. 413/1991 Legal reserve Reserve for treasury stock in portfolio Extraordinary reserve Retained earnings (losses) Treasury stock Gains (losses) recognised directly in equity Stock o ption reserve Net result Total Stockholders’ equity Non-current liabilities Provisions for employee benefits and other non-current provisions Non-current financial payables Other non-current liabilities Deferred tax liabilities Total Non-current liabilities Current liabilities Provisions for employee benefits and other current provisions Trade payables Current financial payables Other payablesTotal Current liabilities Liabilities held for sale TOTAL STOCKHOLDERS’ EQUITY AND LIABILITIES Note (11) (12) (13) (14) (15) (10) (27) (16) (17) (18) (19) At December 31, 2006 772 37,253 14,499,595 20,134 1,573 – 14,559,327 – 154,692 84,173 626,429 608 865,902 – 15,425,229 of which Related parties (Note 30) 10,029 2,408 84,173 146,908 At December 31, 2005 of which Related parties 676 39,658 5,117,532 5,335 4,502 – 5,167,703 5,262 – 215,652 3,075,894 799,920 495 4,091,961 – 9,259,664 7,687 3,075,894 106,007 (20) 6,377,257 1,540,856 22,591 4 46,562 24,139 6,135 (553,412) (24,139) 162,765 27,400 2,343,375 10,373,529 21) (22) (23) (10) (24) (25) (26) (27) 18,104 2,810,029 20,001 3,438 2,851,572 26,791 184,661 1,627,430 361,246 2,200,128 – 15,425,229 6,377,257 681,856 22,591 446,562 27,710 335 (811,737) (27,710) 134,267 16,103 1,117,325 7,984,559 2,810,029 – 17,801 1,405,554 319,078 29,171 5,262 16,861 – 51,294 30,991 385,182 557,383 250,255 1,223,811 – 9,259,664 5,262 2,622 4,975 434 215,379 Fiat S. p. A. Financial Statements at December 31, 2006 243 Notes to the Financial Statements Principal activities Fiat S. p. A. (the â€Å"Company†) is a corporation organised under the laws of the Republic of Italy and is the Parent Company f the Fiat Group, holding investments, either directly or indirectly through subholdings, in the capital of the parent companies of business Sectors in which the Fiat Group operates. The head office of the company is in Turin, Italy. The financial statements of Fiat S. p. A. are prepared in euros which is the currency of the economic environment in which the company operates. The Balance Sheet and Income Statement are presented in euros, while the Statement of Cash Flows, the Statement of Changes in Stockholders’ Equity, the Statement of Total Recognised Income and Expenses and the amounts stated n the Notes are presented in thousands of euros, unless otherwise stated. As the Parent Company, Fiat S. p. A. has additionally prepared the consolidated financial statements of the Fiat Group at December 31, 2006. Significant accounting policies Basis of preparation The 2006 financial statements are the separate financial statements of the Parent Company, Fiat S. p. A. , and have been prepared in accordance with the International Financial Reporting Standards (â€Å"IFRS†) issued by the International Accounting Standards Board (â€Å"IASB†) and adopted by the European Union.The designation â€Å"IFRS† also includes all the revised International Accounting Standards (â€Å"IAS†) and all the interpretations of the International Financial Reporting Interpretations Committee (â€Å"IFRIC†), previously known as the Standing Interpretations Committee (â€Å"SIC†). In compliance with European Regulation no. 1606 of July 19, 2002, starting from 2005 the Fiat Group has adopted the International Financial Reporting Standards (â€Å"IFRS†) issued by the International Accounting Standards Board (â€Å"IASB†) for the preparation of its consolidated financial statements. On the basis of national legislation implementing that Regulation, he annual statutory accounts of the Parent Company Fiat S. p. A. as of December 31, 2006 have been prepared for the first time also using those accounting standards. As a consequence the Parent Company Fiat S. p. A. is presenting its financial statements for 2006 and its comparative figures for the prior year in accordance with IFRS. The accou nting principles applied are the same as those used in the preparation of the Company’s Balance Sheets at January 1, 2005 and December 31, 2005 and its 2005 Income Statement in accordance with IFRS; these statements are provided in theAppendix attached to these Notes, to which reference should be made. The Appendix provides reconciliations of the Company’s equity and Income Statement reported under its previous accounting principles (Italian accounting principles) and IFRS, together with Notes, as required by IFRS 1 – Firsttime adoption of IFRS. Certain reclassifications have been made with respect to the figures published in the Appendix to the 2006 First-half Report. The comparative figures for the previous period were consequently reclassified. These reclassifications have no effect on the net result or stockholders’ equity.The financial statements have been prepared on a historical cost basis, modified as required for measuring certain financial instr uments. Format of the financial statements Fiat S. p. A. presents an Income Statement using a classification based on the nature of its revenues and expenses given the type of business it performs. The Fiat Group presents a Consolidated Income Statement using a classification based on function, as this is believed to be more representative of the format selected for managing the business sectors and for internal reporting purposes and is coherent with international practice in the automotive sector.Fiat S. p. A. has elected to present current and non-current assets and liabilities as separate classifications on the face of the Balance Sheet. A mixed format has been selected by the Fiat Group for the Consolidated Balance Sheet, as permitted by IAS 1, presenting only current and non-current assets separately. This decision has been taken in view of the fact that both companies carrying out industrial activities and those carrying out financial activities are consolidated in the 244 Fi at S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial Statements Group’s financial statements.The investment portfolios of financial services companies are included in current assets in the Consolidated Balance Sheet, as the investments will be realised in their normal operating cycle. Financial services companies, though, obtain funds only partially from the market: the remaining are obtained through the Group’s treasury companies (included in industrial companies), which lend funds both to industrial Group companies and to financial services companies as the need arises. This financial service structure within the Group means that any attempt to separate current and non-current debt in the Consolidated BalanceSheet cannot be meaningful. This has no effect on the presentation of the liabilities of Fiat S. p. A. Assets are depreciated using the policies and rates described below. Lease arrangements in which the lessor maintains substanti ally all the risks and rewards incidental to the ownership of an asset are classified as operating leases. Lease payments under an operating lease are recognised as an expense on a straightline basis over the lease term. Depreciation Depreciation is charged on a straight-line basis over the estimated useful lives of assets as follows:The statement of cash flows has been prepared using the indirect method. In connection with the requirements of the Consob Resolution No. 15519 of July 27, 2006 as to the format of the financial statements, specific supplementary Income Statement and Balance Sheet formats have been added for related party transactions, so as not to compromise the overall reading of the statements. Annual depreciation rate Buildings Plant Furniture Fixtures Vehicles 3% 10% 12% 20% 25% Land is not depreciated. Intangible assets Impairment of assets Purchased and internally-generated intangible assets are ecognised as assets in accordance with IAS 38 – Intangible As sets, where it is probable that the use of the asset will generate future economic benefits and where the cost of the asset can be determined reliably. The company reviews at least annually the recoverability of the carrying amount of intangible assets, property, plant and equipment and investments in subsidiaries and associates, in order to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the carrying amount of an asset is written down to its recoverable amount.The recoverable amount of an asset is the higher of fair value less costs to sell and its value in use. Intangible assets with finite useful lives are measured at purchase or manufacturing cost, net of amortisation charged on a straight-line basis over their estimated useful lives and net of any impairment losses. Property, plant and equipment Cost Property, plant and equipment is measured at purchase or manufacturing cost, net of accumulated depreci ation and any impairment losses, and is not revalued. Subsequent expenditures are capitalised only if they increase the future economic benefits embodied in the asset to which hey relate. All other expenditures are expensed as incurred. In particular, in assessing whether investments in subsidiaries and associated companies have been impaired, their recoverable amount has been taken as their value in use, as the investments are not listed and a market value (fair value less costs to sell) cannot be reliably measured. The value in use of an investment is determined by estimating the present value of the estimated cash flows expected to arise from the results of the investment and from the estimated value of its ultimate disposal, in line with the requirements of paragraph 33 of IAS 28.Fiat S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial Statements 245 When an impairment loss on assets subsequently reverses or decreases, the carrying amount of the as set or cash-generating unit is increased up to the revised estimate of its recoverable amount, but not in excess of the carrying amount that would have been recognised had no impairment loss been recorded. The reversal of an impairment loss is recognised immediately in income. Measurement Financial instruments Investments in subsidiaries and associates are tested for mpairment annually and if necessary more often. If there is any evidence that these investments have been impaired, the impairment loss is recognised directly in the Income Statement. If the company’s share of losses of the investee exceeds the carrying amount of the investment and if the company has an obligation to respond for these losses, the company’s interest is reduced to zero and a liability is recognised for its share of the additional losses. If the impairment loss subsequently no longer exists it is reversed and the reversal is recognised in the income statement up o the limit of the cost of the investment. Presentation Financial instruments held by the company are presented in the Balance Sheet as described in the following: I Non-current assets: Investments, Other financial assets, Other non-current assets. I Current assets: Trade receivables, Current financial receivables, Other current receivables, Cash and cash equivalents. I Non-current liabilities: Non-current financial payables, Other non-current liabilities. Current liabilities: Trade payables, Current financial payables (including payables for advances on the sale of receivables), Other payables. IThe item â€Å"Cash and cash equivalents† consists of cash and deposits with banks, units with liquidity funds and other highly traded securities that are readily convertible to cash and which are subject to an insignificant risk of changes in value. The liability relating to financial guarantee contracts is included in Non-current financial payables. The term financial guarantee contracts refers to contracts und er which the company guarantees to make specific payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt instrument.The present value of the related receivable for any outstanding commissions is classified in Non-current financial assets. Investments in subsidiaries and associates are stated at cost adjusted for any impairment losses. The excess on acquisition of the purchase cost and the share acquired by the company of the investee company’s net assets measured at fair value is, accordingly, included in the carrying value of the investment. Investments in other companies, comprising non-current financial assets that are not held for trading (available-forsale financial assets), are initially measured at fair value.Any subsequent profits and losses resulting from changes in fair value, arising from quoted prices, are recognised directly in equity until the investment is sold or is impaired; the total profits and losses recognised in equity up to that date are recognised in the Income Statement for the period. Minor investments in other companies for which a market quotation is not available are measured at cost, adjusted for any impairment losses. Other financial assets for which the company has the intent o hold to maturity are recognised on the trade date and are measured at purchase price (being representative of fair value) on initial recognition in the Balance Sheet, inclusive of transaction costs other than in respect of assets held for trading. These assets are subsequently measured at amortised cost using the effective interest method. 246 Fiat S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial Statements Other non-current assets, Trade receivables, Current financial receivables and Other current receivables, excluding assets eriving from derivative financial instruments and all financial assets for which quotations on an active market are not available and whose fair value cannot be reliably determined are measured at amortised cost using the effective interest method if they have a pre-determined maturity. If financial assets do not have a predetermined maturity they are measured at cost. Receivables with a due date beyond one year that are non-interest bearing or on which interest accrues at below market rate are discounted to present value using market rates.Valuations are performed on a regular basis with the purpose of verifying if there is objective evidence that a financial asset, taken on its own or within a group of assets, may have been impaired. If objective evidence exists, the impairment loss is recognised as a cost in the Income Statement for the period. Non-current financial payables, Other non-current liabilities, Trade payables, Current financial payables and Other payables are measured on initial recognition at fair value (normally represented by the cost of the transaction), in cluding any transaction costs.Financial liabilities are subsequently measured at amortised cost using the effective interest method, except for derivative financial instruments and liabilities for financial guarantee contracts. Financial liabilities hedged by derivative instruments are measured according to the hedge accounting criteria applicable to fair value hedges; gains and losses resulting from subsequent measurement at fair value, caused by fluctuations in interest rates, are recognised in the Income Statement and are set off by the effective portion of the gain or loss resulting from the respective valuation of the hedging instrument at fair value.Liabilities for financial guarantee contracts are measured at the higher of the estimate of the contingent liability (determined in accordance with IAS 37 – Provisions, Contingent Liabilities and Contingent Assets) and the amount initially recognised less any amount released to income over time. Derivative financial instrume nts Derivative financial instruments are used solely for hedging purposes, for the purpose of reducing foreign exchange rate risk, interest rate risk and the risk of fluctuations in market prices. In accordance with the conditions of IAS 39, derivative inancial instruments qualify for hedge accounting only when, at the inception of the hedge, there is formal designation and documentation of the hedging relationship, the hedge is expected to be highly effective, the effectiveness can be reliably measured and the hedge is actually highly effective throughout the financial reporting periods for which it was designated. All derivative financial instruments are measured at fair value, in accordance with IAS 39. When financial instruments have the characteristics to qualify for hedge accounting the following accounting treatment is dopted: I Fair value hedge – If a derivative financial instrument is designated as a hedge of the exposure to changes in fair value of a recognised asse t or liability that is attributable to a particular risk that could affect the Income Statement, the gain or loss resulting from remeasuring the hedging instrument at fair value is recognised in the Income Statement. The gain or loss on the hedged item attributable to the hedged risk adjusts the carrying amount of the hedged item and is recognised in the Income Statement. Cash flow hedge – If a derivative financial instrument is esignated as a hedge of the exposure to variability in the future cash flows of a recognised asset or liability or a highly probable forecast transaction that could affect the Income Statement, the effective portion of the gain or loss on the derivative financial instrument is recognised directly in equity. The cumulative gain or loss is reversed from equity and reclassified into the Income I Fiat S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial Statements 247 Statement in the period in which the hedged transaction is recognised.Gains or losses associated with a hedge (or part of a hedge) which is no longer effective are immediately recognised in the Income Statement. If a hedging instrument or a hedging relationship is terminated, but the transaction being hedged has not yet occurred, the cumulative gains and losses recognised in equity until that time are recognised in the Income Statement at the time the transaction occurs. If a hedged transaction is no longer considered probable, the unrealised gains and losses that remain in equity are immediately recognised in the Income Statement. ividing the costs incurred by the total costs forecast for the whole construction). Any losses expected to be incurred on contracts are fully recognised in the Income Statement and as a reduction in contract work in progress when they become known. If hedge accounting cannot be used, the gains and losses resulting from changes in the measurement of the derivative financial instrument at fair value are immediatel y recognised in the Income Statement. Sales of receivables Inventory Inventory consists of work in progress on specific contracts and in particular relates to long-term construction contracts signed by Fiat S. . A. with Treno Alta Velocita – T. A. V. S. p. A. under which Fiat S. p. A. as general contractor performs the coordination, organisation and management of the work. Work in progress refers to activities carried out directly and is measured by applying the percentage of completion to the contract fee, thereby recognising the margins deriving from the work performed to date. The cost to cost method is used to determine the percentage of completion of a contract (by Any advances received from customers for services performed are presented as a reduction in inventory.If the amount of advances exceeds inventory, the excess is recognised as Advances in the item Other payables. Receivables sold in factoring operations are derecognised from assets if and only if the risks and rewards relating to their ownership have been substantially transferred to the buyer. Receivables sold with recourse and without recourse that do not satisfy this condition remain in the company’s Balance Sheet even if they have been sold from a legal point of view; in this case, an obligation of the same amount is recognised as a liability for the advances received.Assets held for sale Any amounts in this item will consist of non-current assets (or assets and liabilities included in disposal groups) whose carrying amount will be recovered principally through a sale transaction rather than through continuing use. Assets held for sale (or disposal groups) are measured at the lower of their carrying amount and fair value less disposal costs. Employee benefits The expense related to the reversal of discounting pension obligations for defined benefit plans are reported separately as part of the Group’s financial expense. Post-employment plansThe company provides pension pl ans and other postemployment plans to its employees. The pension plans for which the company has an obligation under Italian law are defined contribution plans, while the other post-employment plans, for which the company generally has an obligation under national collective bargaining agreements, are defined benefit plans. The payments made by the company for defined contribution plans are recognised in the Income Statement as a cost when incurred. Defined benefit plans are based on the employees’ working lives and on the salary or wage received by the employee over a predetermined period of service.The employees’ severance indemnity (trattamento di fine rapporto or TFR) is considered to be a defined benefit plan and is accounted for in the same way as other defined benefit plans. The company’s obligation to fund defined benefit plans and the annual cost recognised in the Income Statement are determined by independent actuaries using the projected unit credit m ethod. The portion of net actuarial gains and losses at the end of the previous reporting period that exceeds the greater of 10% of the present value of the defined benefit bligation and 10% of the fair value of the plan assets at that date is deferred and recognised over the remaining working lives of the employees (the â€Å"corridor method†); the portion of actuarial gains and losses that does not exceed this threshold is deferred. In the context of IFRS first-time adoption, the company elected to recognise all cumulative actuarial gains and losses at January 1, 2004 (date of first-time adoption of IFRS by the Fiat Group), although it has adopted the corridor method for those arising subsequently. 248 Fiat S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial StatementsThe liability for obligations arising under defined benefit plans and due on termination of the employment contract represents the present value of the obligation adjusted by act uarial gains and loses deferred as the result of applying the corridor approach and by past service costs for employee service in prior periods that will be recognised in future years. Other long-term benefits The accounting treatment of other long-term benefits is the same as that for post-employment benefit plans except for the fact that actuarial gains and losses and past service costs are fully ecognised in the Income Statement in the year in which they arise and the corridor method is not applied. Equity compensation plans The company provides additional benefits to certain members of top management and to certain employees through equity compensation plans. Under IFRS 2 – Share-based Payment, these plans are a component of employee remuneration whose cost is measured by the fair value of the stock options at the grant date recognised in the Income Statement on a straight-line basis from the grant date to the vesting date, with a counter entry to equity.Changes in fair v alue after the grant date do not have any effect on the initial measurement. The company has applied the transitional provisions of IFRS 2 and as a result the Standard is applicable to all stock option plans granted after November 7, 2002 but which had not yet vested by January 1, 2005, the effective date of the Standard. Detailed disclosures are also provided for plans granted before that date. Fiat S. p. A. Financial Statements at December 31, 2006 – Notes to the Financial Statements 249 Taxes Use of estimatesThe company recognises provisions when it has a legal or constructive obligation to third parties, when it is probable that the settlement of the obligation will require the outflow of resources and when a reliable estimate can be made for the amount of the obligation. The tax charge for the period is determined on the basis of prevailing laws and regulations. Income taxes are recognised in the Income Statement other than those relating to items credited or charged dir ectly to equity, in which case income taxes are also recognised directly in equity.Changes in estimates are recognised in the Income Statement for the period in which the change occurs. Deferred tax assets and liabilities are determined on the basis of all the temporary differences between the carrying amount of an asset or liability in the Balance Sheet and its corresponding tax basis. Deferred tax assets resulting from unused tax losses and temporary differences are recognised to the extent that it is probable that future taxable profit will be available against which they can be utilised.Current and deferred income taxes and liabilities are offset when there is a legally enforceable right to offset. Deferred tax assets and liabilities are measured by using the tax rates that are expected to apply to the period when the asset is realised or the liability is settled. The preparation of financial statements and related disclosures that conform to IFRS requires management to make est imates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and iabilities at the date of the financial statements. Actual results could differ from those estimates. Estimates are used in accounting for depreciation and amortisation, impairment losses and reversals of impairment losses on investments, the margins earned on construction contracts, employee benefits, taxes and provisions. Estimates and assumptions are reviewed periodically and the effects of any changes are recognised in the period in which the estimate is revised if the revision ffects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Provisions Treasury stock The cost of purchase of treasury stock is accounted for as a reduction of equity. The effects of any subsequent transactions with those shares are similarly recognised directly in equity. Dividends received and receivable Di vidends received and receivable from investments are recognised in the Income Statement when the right to receive the payment of this income is established and only if declared from post-acquisition net income.If dividends are declared from pre-acquisition net income, those dividends are deducted from the cost of the investment. Revenue recognition Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and when the amount of revenue can be measured reliably. Revenue is presented net of any adjusting items. Revenue from services and revenue from construction contracts is recognised by reference to the stage of completion (the percentage of completion method).Revenues arising from royalties are recognised on an accrual basis in accordance with the terms of the relevant agreement. Financial income and expenses Financial income and expenses are recognised and measured in the Income Statement on an accrual basis. Fiat S. p. A. and almost a ll its Italian subsidiaries have elected to take part in the national tax consolidation programme pursuant to articles 117/129 of the Consolidated Income Tax Act (T. U. I. R. ); the election has been made for a three year period beginning in 2004.Fiat S. p. A. acts as the consolidating company in this programme and calculates a single taxable base for the group of companies taking part, thereby enabling benefits to be realised from offsetting taxable income and tax losses in a single tax return. Each company participating in the consolidation transfers its taxable income or tax loss to the consolidating company and Fiat S. p. A. recognises a receivable from that company for the amount of IRES corporate income tax paid over on its behalf. In the case of a company

Beetlejuice Screenwrite

The beginning of the film starts out with a camera overlooking the whole town of which this movie is going to take place. As the credits end, the camera ends up focused on a large house on a hill. You can clearly tell that the house is made up of some sort of material, but it was used as a way to introduce one of the main characters. A spider crawls up on top of the model house and in comes Adam. The first thing he does is carelessly pick up this massive spider as if it where one of his pets and carries it to a window where he releases it.Right off the bat you could tell hat this man is kind to nature and very gentle with the way he handled the spider. In comes his wife, Barbara, who is filled with Joy and love. Their mutual understanding of each other makes them love each other more and more. They both hear something come from outside and realize that it is a house bidder trying to sell their home to people that are more â€Å"deserving† of it. This house bidder assumes that because Just two people are living in a large home by themselves that it is irrational for them to agree to sell it.The one thing that both Adam and Barbara share is their eagerness to keep their home. The couple denies the house bidder and then drives into town to pick up some supplies. Looking at the surrounding environment makes it obvious that Adam and Barber's home is the focal point of the town. Adam leaves his car to go in the store to get the supplies, when he realizes that the clerk isn't at the front desk he takes money out of his pocket and puts it into the cash register himself. This again, exemplifies the honesty of this man.On the drive back home, they see a dog in the road and Barbara quickly swerves off the road crashing into a wooden bridge that is completely unstable. Their car ends up falling into a river and the scene cuts. They end up back at their house but do not realize how they got there. After very bizarre things occur to them, they start to question what h as happened. They find a book titled â€Å"book for the Deceased† and realize that they have in fact died. The first conflict comes into play when they are trying to adjust or figure out why they cannot step out of their own house.The character Betelgeuse is introduced and although we do not get a full view of him we figure out what type of character he is. Betelgeuse is a ruthless and mean person. He seems like the type that has no problem in taking advantage of you. From the start, you can foreshadow that this character will be a conflict of interest later on in the film. The movie then switches to the new family that has began to move into the now vacant house. The door to the house slams open and large amounts of furniture are being moved in.It's as if the writer of this movie wanted the audience to feel like the house was being torn down and re-done from the ground up. First is Delia, who is a red haired woman, and the first impression is that she is a stuck up, conceite d, but neat and tidy person. She takes pride in her pieces of artwork even though they're clearly not well done. Then there is her husband Charles, who is the influential and uptight dad that is searching for seamlessly deserving relaxation. The Daughter is introduced as a disturbed and rebellious gothic girl.You could tell by the way she admires the houses cob webs and are ghosts living in her new home. Deli's assistant, is a very feminine character that is oblivious and careless with his actions. He acts as a big shot and talks like one too. Both Delia and her assistant share a mutual outlook with how things should be. When Barbara and Adam realize that new people have moved into their house they come furious and want to drive them out. This is another conflict introduced in the movie and it depicts the click © of ghosts trying to haunt people.Adam and Barbara try scaring the new house owners but realize they aren't doing a good Job at it. The ignorance these two characters have pushes them to learn more about who they are and the new abilities they have as Ghosts. The way this screenwriter set up the characters along with the conflicts really creates a good buildup, thus making the movie more enjoyable and fun. There are multiple conflicts, which make the viewer wonder how each one of them is going to be resolved.

Building Therapeutics Relationships in Forensic Psychology

Building Therapeutics Relationships in Forensic Psychology What interpersonal qualities should a forensic psychologist have that help build therapeutic relationships? Forensic psychology is a branch of criminological psychology; it refers to the knowledge of the understanding, prediction and nature of crime or criminal behaviour (Bull, Davies Colman, 1995). In recent years, some state institutions have tried to prohibit females from working within all male prisons in America, as they argue that it is too dangerous for females (Arrigo & Shipley, 2005), meaning that although there have been major developments for equality of sexes, there is still some prejudice of females being the weaker gender, both physically and psychologically, within this line of work. This shows us that forensic psychology is a fairly recent phenomenon, with establishments, such as the British Psychological Association (BPS) recently creating a division devoted to criminal psychology (Buskist, Carlson & Martin, 2000). This may mean, that although we have some understa nding of the professionalism needed within legal and psychological situations, we may not be fully aware of specific requirements needed of individuals due to the fact that forensic psychology is still in its adolescent stages of development. Some questions posed to forensic psychologists help us gain an insight into what qualities are needed to give an accurate report and to fully express themselves within legal situations. These include, and are not limited to: if they are fit to stand trial, if the testimony is genuine, if the individual has any learning difficulties and if they are malingering (Colman, 1995). This would mean that not only are forensic psychologists required to have a respectful understanding of all parties involved, it is also key that they show qualities of insight, to understand the strengths and limitations of the individual and the tests conducted. Other qualities include an empathetic personality to any personality or learning disorders, tolerance of indivi duals with uncooperative personalities and an unprejudiced outwardly view of an individual, regardless of their past.

Managing Decisions Essay Example | Topics and Well Written Essays - 2750 words

Managing Decisions - Essay Example e decisions which are taken on the basis of relevant assumptions which are made after considering for all types of situations and consequences which the organisation can face in future. As per this model there are seven basic steps which are taken while managing decisions. First of all, the main problem should be defined and analysed in order to assess the future situation which the company may face due to the problem. The second step is to identify and analyse all the alternative solutions of the problem. The third step is to analyse all the merits and demerits of the identified alternatives. Once all the alternatives have been assessed the fourth step is to rank all alternative solutions as per their strengths. Ranking helps to identify the optimal alternative solution which can maximise the satisfaction level, thus identification of the optimal solution id the fifth step of this model. Sixth step is to implement the chosen alternative. Once the alternative is implemented follow up s are done to assure that every thing is going as decided, this is the seventh step in normative model (Swansburg and Swansburg, 2002, p.256). Decision tree: The uncertainty aspects of the future events make the decision making more crucial and vital for every organisation. One of the most popular and common quantitative technique which is used to manage decisions regarding uncertain activities is decision tree. Thus decision tree can be defined as the graphical representation of various sequential decisions and the various expected values of those decisions. The decision tree helps to assess each decision as per their sequence in analysing the expected value of the given alternatives. The expected values are the probable value of the outcomes of various activities. These are considered... Center of discussion in this paper is decision making as an important aspect of every business enterprise. The success of the organisation largely depends upon the managerial decisions. Therefore it is very important to efficiently manage the decision making. The whole organisation starting from the recruitment of the human resource, planning for the production and manufacturing of products, planning for the projected business, demand forecasting, planning of the activities to be done in the organisation, budgeting, forecasting of the revenue, target customers, etc are very important for success of the organisation. Therefore, the managerial decisions are very important and have a great impact on the overall performance of the company. If any decisions regarding planning of the organisational activities or the short term targets set for the company are not done efficiently then the company can be severely affected in long run. There are many techniques which help the managers in thei r decision making. Some of the methods are quantitative and some are qualitative. Every method has its pros and cons but at the same time relevant in their own field. Thus the best technique is to combine the various techniques of decision making in other words the management should not depend on one technique of decision making but it should practice a variety of decision making tools which would increase the efficiency of decision making process and will also make the decision process faster and effective.

Cultural Superstition Essay Example | Topics and Well Written Essays - 1000 words

Cultural Superstition - Essay Example I will discuss the myth associating the number 13 to bad luck, and even more recently extending it to Friday the 13th being unlucky (Vyse 21). Even people and societies who claim not to have superstitious inclinations are prone to do some things they cannot explain, like hanging on to the fear of the number 13. It is such a widespread phenomenon that has its own name; triskaidekaphobia (Weisstein 1). I learned of the superstition as a child in the junior school through narratives and story books. I also encountered it practically on a public transport bus. The passenger seats were numbered from one to 62, but without any explanation, there was no seat number 13. As expressed in numerology, the number 12 is viewed as a symbol of completeness. Going forth to number 13 is seen as an irregular transgression. This can be shown in examples such as the 12 gods of Olympus, 12 months of the year, 12 tribes of Israel, 12 hours of the clock, 12 Disciples of Jesus, 12 signs of the Zodiac and Muh ammad’s successors in Shia Islam (Wilson and Reill 31). Among the many origins of the superstition, some date back to the biblical days of Jesus Christ and His 12 disciples (Turcan 10). In Christian theology, there were 13 people at the Last Supper before Jesus Christ was betrayed. Further linking the misfortunes of number 13 to Friday, after the betrayal, Jesus Christ died on a Friday. Ironically, Judas Iscariot, who was the betrayer, was the 13th person to take his place at the dinner table. This myth is still held today that if there at 13 people having a meal together, it will lead to the death of one of them (Turcan 12). Still on Biblical times, even before the birth of Jesus Christ, there were only 12 tribes of Israel, which bears His ancestry (Turcan 12). In the Norse mythology, 12 benevolent gods were sitting in a gathering in a hall (Vyse 29). Then the evil, uninvited god, Loki, turned up and attacked them. Loki happened to be the 13th person to arrive at the gatheri ng, and his attack led to the death of the god named Balder. Balder’s death eventually resulted to the deaths of several other gods, a chain of natural disasters and the abolition of all things on earth except for two humans who survived. Although this is only a myth, it emphasizes the swing of misfortunes that followed the arrival of the 13th person at an otherwise peaceful gathering (Wilson and Reill 14). History also has records that the superstition is also upheld by the high in society. Among these dignitaries was American President Franklin D. Roosevelt. He was rather fearful of the number 13, that he took extensive measures to steer clear of hosting a meal that had 13 guests. He would invite his secretary, even though not necessary to non state functions, to increase the number from 13 to 14 (Vyse 25). In the traditional Roman Empire, there were 13 steps of the stairs leading up to the gallows. The legend also offers that the hangman’s noose traditionally had 13 turns. These two notions present a direct link to death with number 13 (Turcan 12). Further on the connection of 13th to Friday, in the year 1307, there occurred a mass arrest followed by executions of the Knights Templar on Friday, October 13th (Weisstein 1). The arrests, which took place in France, were allegedly financially motivated by the royal bureaucracy under Philip IV to raise the prestige associated with the crown. Although it is widely accepted that this is a relatively recent observation,

Galveston Island Essay Example | Topics and Well Written Essays - 500 words

Galveston Island - Essay Example As the salty air blows against the face, it makes you feel calm and relaxed. Sitting on the beach, one can watch the waves crest and then crash over one another as surfers wearing their bright colored suits jump into the turquoise water. At a distance one can see the light colored sailboats as they move slowly on the waters under the clear blue sky. At times the noise of the seagulls fill the air as they fly around searching for food and snatch a fish from the water once in a while. Although the beach offers a calm and relaxed atmosphere, a more exciting experience awaits as one decides to take a ride on the ferry. The ride on the ferry is one of Galveston’s most popular attractions. Riders can choose to drive their vehicles aboard the ferry. As the wind blows hard and the sea gets a little rough, the waves crash against the ferry drenching the vehicles and the people that stand on the deck. During the ride, one may even notice the smooth gray hump of dolphins in the waters. As one dolphin slides back under the ocean’s surface, more join them as they play in the surf. However as the ferry nears the shore, the dolphins disappear back into their home in the Gulf. During the ride, one may notice fishermen throwing their nets for a catch. Seeing the fishermen gathering their catch and the sea gulls hovering around to grab a bite, one can hardly wait to taste the delicacies of the seafood that the place has to offer.

Attack Prevention Essay Example | Topics and Well Written Essays - 500 words

Attack Prevention - Essay Example he information in the computer is not secure, this is because it is susceptible to people who hack the software’s and access the information .The ones responsible for hacking the computer today, are believed to have bad intentions of manipulating other peoples information stored in the computer. The core reason for the article is to inform home users on how criminals are on rise to involve them in fraud and data theft with an aim of getting wealth through their criminal activities of hacking other peoples software’s. The article refers from an article that is online from Cyber Media India Online Ltd, that claims that home users are always at high risk due to poor security measures in place and thus become victims at all times. It also suggests on the use of malicious code as a way of attacking desktop software’s and web browsers. The article also offers some techniques on how the home users can put home security measures to curb malicious networks and application dealings (Chou, 2014). The page was written by an organization and the author is unclearly identified and I think the identification of the author to miss is purposeful. The author of the article is affiliated to the organization because he/she has written on the topic related to the aim of the organization which is to inform the public about the criminal acts by the hackers of software’s. The page where the article is written does not give a link that is blank for one to comment or ask questions regarding the article (Chou, 2014) This is a scholarly site and the author is writing towards achieving the goals of the site but not to sell the information. The article tries to inform about various mechanism that can be used as prevention measures to avoid fraud and theft of data. It is very easy to identify a specific point of view in this article. The site targets the scholars and at the same time, the general public. The main objective of the site is to inform and educate both the general public

Different throught processes during World war 2 and vietnam a contrast Essay

Different throught processes during World war 2 and vietnam a contrast in thinking - Essay Example The speed at which life changed and the number of social issues that were in conflict made the world a very different place, thus supporting a citizenry that was in conflict with its government, a nation that was in a social civil war trying to change what would lead toward a more enlightened society. The 1940’s was a time that marked the beginning of world in which the oppressed would stand tall and the domination of the white male social group would come into challenge. However, this was not seen from inside this time, only from the retrospective point of view that represents the changes that took place during this time. The social control of the world before this time resided deeply within the group defined by white Western males who dominated in the economic and social spheres from which the world was primarily defined. However, this group had taken some damage during the press of the economic pressures during the 1930’s that had whittled away both pride and resources. As World War II took those same men far from the shores of the United States, a new world would blossom during their absence. During World War II, the support for the war extended into most aspects of life within the United States. The first sacrifice was made by the men who enlisted in droves to support the end of tyranny within the world by participating in the military efforts. However, there was a great deal of sacrifice made on the home front because of the participation of men and the use of resources that might not have been required without the existence of the war. The entry into World War II came on the heels of a Japanese attack on Pearl Harbor which incited the passions of the citizens towards revenge and preservation of the way of life that was the American culture. According to Hormats, â€Å"On the day after the attack on Pearl Harbor, President Franklin Roosevelt proclaimed his confidence that the

Francisco De Goya's The Third of May and Eugene Delacroix's Liberty Research Paper

Francisco De Goya's The Third of May and Eugene Delacroix's Liberty Leading The People - Research Paper Example How the bodies are displayed and the forms of the hands are highly significant. Light, color and the use of movement will be shown as a force of submission and success in continuing the discussion of each revolution. To conclude, it will be summarized how Delacroix's Liberty, Leading the People and Goya's 3rd of May, 1808 are two different revolutions not from a historical perspective but from an artistic perspective giving each social and artistic significance. Delacroix's painting is memory of the revolution of 1830. King Charles X had been dethroned in 1830. The government was dissolved. The country was in recession. The people were hungry, angry and in the streets. When Napoleon took over, Delacroix painted his famous painting, which is full of symbolism. The young woman took on mythological form as she contrasted the light against her body. (Ringbom 273) "The young boy is also at the side of Liberty, where he stands as a page in classical mythology. (Ringbom 273)The man in the t op hat was said to be Delacroix. As there is much controversy, it can be said that the painting has many social classes. Personally, he would not be allowed to hold a musket if he were one of the bourgeois. The painting was done during the romantic period. The woman on the mound with her breast showing is an indication that the school still exists. She is romantic goddess who saves the nation. The painting is full of energy and emotion. There is movement. Though there are bodies that are merging into each other, they are realistically portrayed. This is the beginning of the realist school, which is to come during Delacroix's life. The bodies in the painting show no blood. Two of them are soldiers and one is a civilian without pants in which the symbolism could be the change of a nation keeping the culture of that nation (blue sock). It is the same blue of the flag, the jacket and the sock. The feet and the bodies are in proportion with each other. Though the one body is missing clot hes and is in the position of Jesus, it has been repositioned in a very different angle. The refreshing blue and red help create light. There is no fear and the victorious are the people rather than the soldiers. The man looking up to the Liberty Lady is dressed in red white and blue. The other side of the Seine is a white cloud of smoke. The blue sky is covered. Delacroix makes a difference between the position of the people's bodies and the soldier's bodies. Some of the soldiers are lying on their stomachs. The hands of the dead soldiers are old and shriveled. They show that they have been dead for a while or that they are old and no longer have a position in society. This use of symbolism shows that the French people are tired of the old rule. The hands of those who are dead or alive have hands that are perfectly proportioned. Both buildings are visible in their respective painting. Delacroix has more perspective than Goya by the use of lighting. His painting is during the day. H is background is lighter and more precise. Delacroix was a storyteller in his paintings. It is felt by his vibrancy. The buildings are also a sign of the future to come. It is not to destroy society but to destroy those who control society. Goya's portrayal of the people is more in romanticism. Though he was able to capture emotion, his portrayal of figures was proportional but he did not draw them with details in which Delacroix used. His painting is far more emotional. "The Spanish Guerillas persisted as despite the

Managerial Accounting Essay Example for Free

Managerial Accounting Essay Accountants and auditors help to ensure that firms are run efficiently, public records kept accurately, and taxes paid properly and on time. They analyze and communicate financial information for various entities such as companies, individual clients, and Federal, State, and local governments. Beyond carrying out the fundamental tasks of the occupation— providing information to clients by preparing, analyzing, and verifying financial documents—many accountants also offer budget analysis, financial and investment planning, information technology consulting, and limited legal services. Managerial Accounting: Managerial accounting is concerned with providing information to managers that is, people inside an organization who direct and control its operation. Managerial accounting provides the essential data with which the organizations are actually run. Managerial accounting is also termed as management accounting or cost accounting. Standard costing is an important subtopic of cost accounting. Standard costs are usually associated with a manufacturing companys costs of direct material, direct labor, and manufacturing overhead. Rather than assigning the actual costs of direct material, direct labor, and manufacturing overhead to a product, many manufacturers assign the expected or standard cost. This means that a manufacturers inventories and cost of goods sold will begin with amounts reflecting the standard costs, not the actual costs, of a product. Manufacturers, of course, still have to pay the actual costs. As a result there are almost always differences between the actual costs and the standard costs, and those differences are known as variances. Standard costing and the related variances is a valuable management tool. If a variance arises, management becomes aware that manufacturing costs have differed from the standard (planned, expected) costs. * If actual costs are greater than standard costs the variance is unfavorable. An unfavorable variance tells management that if everything else stays constant the companys actual profit will be less than planned. * If actual costs are less than standard costs the variance is favorable. A favorable variance tells management that if everything else stays constant the actual profit will likely exceed the planned profit. Use in Business: Managers rely on cost accounting to provide an idea of the actual expenses of processes, departments, operations or product which is the foundation of their budget, allowing them to analyze fluctuation and the way funds are used socially for profit. It is used in management accounting, where managers justify the ability to cut expenses for a company in order to increase that company? s profit. As a tool for internal use, versus a tool for external users like financial accounting, cost accounting does not need to follow the GAAP standards (Generally Accepted Accounting Principles) because its use is more pragmatic. It is a very important part of the management accounting process. In order for managers to determine the best methods to increase a companys profitability, as well as saving a company money in the future, cost accounting is a necessary system in the management of a companys budget, providing important data to analyze fluctuation in company production expense.

Case Study: Food Expiration Dates

Case Study: Food Expiration Dates If the best before date stamped on your milk carton says January 1, 2011, does that mean its not safe to drink it anymore on January 2? How long can raw meat last inside the fridge before it goes bad? Is there a difference between Use by, Best before, Sell by, and all the other date labels? Questions like these continue to boggle many Filipino homemakers today. With the constant struggle to stretch every peso for their family, throwing away unconsumed food just because a date says so is something that isnt fun to do at all. What do these dates really mean and should they be followed with utmost strictness? Food Product Dating Placing dates on food products is a practice being followed by the food industry to let the retail store know how long a product for sale should be put on display. Food product dating also helps consumers like us determine until when we can buy or use the product at its best quality, provided it has been properly stored. Do note that these dates are not to be confused as a safety date, as there are many factors that determine food safety. There are basically two types of food product dating: closed or coded dating and open dating. Closed or coded dating may be seen on shelf-stable products like canned goods and boxes of food. Coded dates can be in MMDDYY format, while some manufacturers use the Julian calendar wherein January would be 001 to 0031 (1st to the 31st day of the year) and December would be 334 to 365 (334th to the 365th day of the year). These are packing numbers meant to be used by the food manufacturers to track production. The dates that most consumers see on the grocery shelves, on the other hand, like those stamped on packed meat, eggs and dairy products, is called open dating. This uses the standard calendar date format such as date month year or dd/mm/yy. According to the Food and Drug Administration (FDA) Regulation No. 001 Series of 1982 (Subject: Guidelines for Open-Date Marking of Prepackaged Foods), open date markings should be indicated on food packages using indelible ink or embossed on cans or any other acceptable manner. The same guidelines also specify that the date marking should appear in a conspicuous place such as in the front panel of the label or on top of packages like box, bottles or cans. Putting open-date markings on packaged food products is routinely done by food producers and manufacturers, but not all of them are required to do so. According to the BFAD Memorandum Circular No. 6 s. 1993 (Subject: Monitoring of Food Products Requiring an Open Date Marking), the food products that are required to indicate their best before date are the following: Liquid Milk Products which include filled, recombined or reconstituted evaporated milk, sweetened condensed milk, and UHT sterilized milk. Whole Milk Powder Dried Dairy Milk Powder Filled Milk Powder Skimmed Milk Powder Bakery Products (those sold in supermarkets, not in bakeries) which include loaf bread and buns Infant Food and Infant Formula Vitamin C-enriched liquid fruit drinks because after some time, vitamin C content may not be as much as what the label declares. According to FDA Regulation No. 001-D s. 1982 (Subject: Guidelines for the Open-date marking of Vitamin C enriched liquid fruit drinks), before its best before date, these fruit drinks should at any time contain 80% of the label claim of Vitamin C, but not lower than 30 mg/250 mg sample. The memorandum also mentions the directive that requires retailers to remove from their sales counters all products above that do not bear the required open date markings. The open dates are based on the average shelf life of the food item being packed before it loses its optimal quality or nutritional content. This doesnt mean that after the date you cannot consume the products anymore, it simply means that the quality of food is no longer assured. Once the date passes, food products should still be safe for consumption, as long as its handled and stored properly (i.e. kept at 40 degrees F or below). You may continue to consume food past its best before date up to a certain extent, depending on the recommended storage times that will be discussed further down this article. Open Date terminology Locally, the Bureau of Food and Drugs (which was later renamed Food and Drug Administration or FDA in August 2009), enforces guidelines that cover open-date marking and labeling of packaged food. The FDA defines the different types of open date terminology as the following: Consume Before Date also known as Use by date or Expiry date. This is the date which gives you the last day of the products estimated shelf life. This is only guaranteed if certain storage conditions are met, of course, such as storage temperature and handling. Beyond this date, the food product in not considered marketable anymore or is expired and must be discarded. The consume before date must be indicated in labels of packed fresh food products like fruit juices, chocolate drinks, fresh milk, butter, yogurt, cream, cheese, cured or frozen meat and fish, bakery products, and baby food. Products that have no preservatives are highly perishable therefore indelible markings must be indicated visibly in these labels. Best Before Date also called Best if used by date. The keyword here is using the word best beside the date, meaning it is the date which signifies the end of the period where the products best quality is guaranteed. Again, the guarantee assumes a stated storage condition. Beyond this date, the products quality attributes will be expected to deteriorate but may still be satisfactory for human consumption. After a few days or weeks of the indicated date, though, changes in color or texture and decrease in nutritional content may is expected. Other products, especially those imported from overseas, may have different open date markings compared to locally distributed food. The following are some of the more popular open date terms used: Sell-By Date this is actually meant for the store owners more than the consumers. This date gives an approximation on how long the store should display a product for sale before it should be pulled out of the shelves. Consumers are also advised to buy the product before the sell-by date because, according to senior faculty member Paul VanLandingham of the Johnson Wales University Center for Food and Beverage Management, this is the last date wherein freshness is at highest level of quality in terms of taste, freshness and consistency. After the sell-by date, the food product should still be edible for some time after. Born-On Date this is equivalent to the date of manufacture and is often used to date beer. VanLandingham explains that beer quality is affected by how much sunlight it is exposed to. Since sunlight can reactivate microorganisms in the beer, store owners are advised to be careful with handling beer in clear bottles more than those in dark brown or clean bottles. Generally, commercialized beer can go sub-par after three months from the born on date. Guaranteed Fresh Date this is usually used by bakeries and is similar to best before date. As the name suggests, the guarantee is given that the baked product is at peak freshness before the date indicated. After the guaranteed fresh date, food will still be edible and may still be consumed, but taste, texture and nutritional value may not be the same anymore. Storage Times Keeping food at 40Â ° F or below inside a refrigerator is usually good s for food as the common food-borne bacteria usually grow in much higher temperatures (41 degrees F and above). Did you know that if you freeze perishable food like meat cuts, youre actually extending your foods shelf life by as much as several days? The US Department of Agriculture (USDA) Food Safety and Inspection Service website gives a food storage chart on food that bears a sell by or no date marking. Assuming youre storing food at 40 degrees Fahrenheit or below, cook or freeze the following food products by the times mentioned below: Raw poultry, ground meat, variety meats (like heart, tongue, liver, brain, etc), uncooked beef or pork sausages: 1 or 2 days Raw pork, beef, lamb, veal: 3 to 5 days Cured meat (like ham, tocino, etc): 5 to 7 days Eggs: 3 to 5 weeks Cooked poultry and sausages: 3 to 4 days Hotdogs and bacon: 2 weeks if sealed, 1 week if opened Luncheon meat: 2 weeks if sealed, 3 to 5 days if opened Cooked ham: 7 days if sealed; if opened, 3 days for slices, 7 days if kept whole Canned ham (with keep refrigerated label): 9 months if unopened, 3-4 days if opened Canned meat and poultry: 2-5 years if unopened; if opened, 3-4 days Life after food product dates According to experts, the average American family disposes of over 120 lbs of food monthly food that could have still been perfectly okay to eat! Talk about wasted money on what should have been spent on other basic needs of the family. Well, good thing that a USDA research has reported how packed foods can last several days (some, even weeks) after the sell-by date printed on packages. This is certainly good news for the Filipino household budgeters. As recommended by the Center of Consumer Research at University of California, Davis, heres a list of foodproducts that are okay to consume (if properly handled and stored) even after open date markings: Milk if pasteurized, milk usually remains fresh for about 5-7 days after the sell-by date. Make sure that its not exposed too long to sunlight, though, as it can lose some essential vitamins. This is why most milk cartons come in opaque containers. Eggs can be stored up to 5 weeks after taking them home. This is because most egg processing plants coat their eggs in mineral oil, which essentially blocks bacteria from entering any of the approximately 17,000 egg shell pores. Keeping eggs refrigerated also keeps bacteria away. Its best to keep them in their original carton and place them in the colder parts of your ref, not on the egg tray placed at the door (this is actually the warmest part of the fridge) Poultry, beef, pork and seafood cooking before storing in the fridge doubles the original shelf life of meats (3 to 5 days instead of 1 to 2 days). Once completely frozen, meat can last up to several weeks, even months. According to the USDA Food Safety and Inspection Service, freezing meat at 0Â °F (which is equivalent to -17.78Â °C) is best for safety reasons. Keeping meat frozen at 0Â °F wont kill bacteria that can cause food-borne illnesses, but it sure can slow down growth by forcing them into a state of dormancy. Some parasites can be killed at this temperature. Theoretically, keeping food frozen at this temperature can make meat last forever. Attempting to achieve this at home, however, is an extremely difficult task since your refrigerator is opened several times a day (causing fluctuation in temperature every time). Taking this into consideration, heres a list of recommended storage times of frozen products in home refrigerators: Bacon, sausage, raw poultry: 1 to 2 months Ham, cooked meat, hot dogs or cold cuts: 2 to 3 months Raw ground meat: 3 to 4 months Cooked poultry: 4 months Raw steaks, roasts or chops: 4 months to a year Raw poultry parts: 9 months Canned goods normally, canned goods are great refrigerator-free foods that last long if stored in the right conditions. If you cant find an expiry date printed on the label, here are some easy reminders on how long they usually last: highly acidic canned food like pineapple or tomato sauce can last about 18 months or more. Canned goods that are low in acid content like canned veggies or meat can be kept up to 5 years. Texas AM University professor of food and nutrition Peggy VanLaanen strongly recommends keeping canned goods at 50-70 degrees Fahrenheit in a dry, dark place for optimal shelf life. Humidity can speed-up deterioration, so this should be avoided. Do not buy dented cans or those that are swelling or bulging since these may easily be harboring harmful bacteria already (if you have bulging cans in your shelves, throw them out now even if expiration date isnt due yet) Yogurt this can last up to 5 days beyond the use by date, for as long as you keep them refrigerated. You may lose the friendly bacteria after this, but it should still be safe to eat. To keep yogurt fresh longer, place it upside down in your refrigerator as this creates a seal that can keep harmful bacteria from seeping in its packaging. Fruit juice this can last up to 6 days beyond the use by date, for as long as you keep them refrigerated. The sugars and acids added to your fruit juice already lengthen the shelf life and those in concentrate form can also last longer because air has been removed prior to packing. Keeping juices in the refrigerator after purchasing them will surely lengthen shelf life in general. Mishandled food can breed bacteria even before its labeled date, so it is important that you follow storage instructions mentioned in product packaging. For example, if you bought a pack of hotdogs that say theyll expire next month and you forgot to refrigerate the pack for several days, bacteria could have already contaminated your food even before the expiration date. If food is already contaminated by harmful bacteria like Listeria, E. coli or Salmonella, they can multiply and build colonies within days, even if you decide to throw the forgotten pack of hotdogs back in the refrigerator. According to food safety advocate, Bill Marler of Marler Clark (a Seattle law firm that represents victims of food poisoning), when bacteria are already present in food, the use-by date becomes irrelevant since it can cause harm even before the date indicated. In this case, it will be safer for you and your family to just throw away unconsumed food instead of risking the possibility of getting sick. Trust your nose and tongue For food that are not packed for commercial distribution (like cooked viands bought from a local carinderia or made to order baked goodies), the best way to find out if food is still edible or not is if we use our God-given sense of smell and taste. These are actually what our ancestors used back when food dating was not discovered yet. In general, you should not eat food that gives off a repulsive smell or taste, as it most likely isnt fit for consumption anymore. In the absence of an expiry date sniffing and tasting is the way to go! Sources: http://www.businessweek.com/bwdaily/dnflash/content/oct2006/db20061002_959305.htm http://www.webmd.com/food-recipes/guide/do-food-expiration-dates-matter http://www.associatedcontent.com/article/5389/a_guide_to_food_expiration_dates.html?cat=22 http://www.safety.com/articles/what-do-food-expiration-dates-really-mean.html http://www.fsis.usda.gov/factsheets/food_product_dating/index.asp http://thehealthylivingsite.com/2010/09/03/foods-you-can-safely-eat-past-the-expiration-date/ http://www.entrepreneur.com.ph/features/article/read-the-label http://www.bfad.gov.ph/oldsite/FDA%20Regulation%20001%20s.%201982.pdf http://www.bfad.gov.ph/oldsite/MC/mc%206%201993.pdf http://www.bfad.gov.ph/oldsite/BC/fda%20reg%201-d%201982.pdf http://www.wisegeek.com/how-long-will-frozen-meat-stay-fresh.htm

Sin In The Scarlet Letter :: essays research papers

Everyone has violated either moral or religious law at least once in his or her entire lifetime. On the outside, they might be "looking pure as new-fallen snow; while their hearts are all speckled and spotted with iniquity of which they cannot rid themselves."(p.116) Some walk secretly with this heavy sin in their heart, while others get shamed in public because their sin is displayed openly. Since these sins are all different, the consequences and the significance may also vary in importance. In The Scarlet Letter by Nathaniel Hawthorne, Hester Prynne, Arthur Dimmesdale and Roger Chillingworth sins and all of the wrongdoings vary in significance. The story develops when Hester Prynne commits the sin of adultery. Even though Hester's mistake was driven by innocent passion for Dimmesdale, the puritans took this seriously. By wearing the scarlet letter A on her chest, the village people look at her as an outcast. The puritans don't look at the sin as an act of love but instead as the work of the devil. However, Hawthorne makes it so that Hester's sin seems less serious than that of Chillingworth. Hester's sin seems more innocent because it was driven by her affection for Dimmesdale rather than of the intelligence. Her sin can also be considered less serious because Hester is willing to accept her sin and deal with the consequences publicly. As for Chillingworth, his sin is the manipulation of a human being. His deathly sin is not committed because he needs to, but Chillingworth commits this sin because he wants to. " Never did mortal suffer what [Dimmesdale] has suffered"(p.150) and it's all because of Chillingworth. His only reason for why he is sinning is because Chillingworth wants revenge on Dimmesdale, which is more serious than Hester's sin. Chillingworth actually knows that his actions are hurting a human being and that's where the seriousness of his sin comes in. Unlike Hester Prynne, "He has violated, in cold blood, the sanctity of a human heart. [ Dimmesdale] and Hester, never did so!"(p.105) Meaning that Chillingworth dark sin is actually killing a human being. Even though Chillingworth's only intention is to get revenge on Dimmesdale, he is hurting the towns people as well as Hester and Pearl. By making Dimmesdale weaker and weaker, the puritans are loosing a minister that has always been there for them. Chillingworth is also hurting Hester and Pearl because he is preventing Dimmesdale from being with them.

The Immorality of Child Labor Essay -- Papers Argumentative Children W

The Immorality of Child Labor Child labor is a serious moral issue. There have been many controversial debates over whether it should be legal or not. Two different viewpoints on the subject exist. Many argue that child labor is morally wrong and that the children should not work, no matter how poverty stricken their family might be. Advocates and major corporations that support child labor argue that it is good because it gives poverty-stricken families a source of income. Child labor first appeared with the development of domestic systems (when people became civilized). It was widely practiced in England, America, and other countries during the 16th-18th centuries. Children were paid very little for the dangerous conditions and the long hours they were required to work. Many of these children worked in factories, mills, mines, and other horrible places. Some families sold their children into labor for money to pay off debts. These children worked off the debt and were a source of income for the family. Today, child labor is illegal in most developed countries. There are strict laws that monitor the jobs, hours, wages, etc. that children have if they do work. An example of these laws, is one that requires all children to go to school until they are 16 years of age before they can drop out and be employed full time. Most third world and under-developed countries are where the majority of child laborers can be found. Child labor is morally wrong. The children shouldn?t be forced to work. Most children who work are little more than slaves to their employers. They put up with abuse, starvation, and sometimes never being paid for their work. One eight year-old boy, Munnilal, from Varanasi, I... ...hould be passed to better the conditions in which they work though. A. There have been laws passed that limit and reduce the amounts of child labor. B. Many organizations are working to improve child labor conditions and are succeeding in some cases. V. Personal Opinion/ Commentary- Children around the world shouldn?t be forced to work at all. They should be given a chance to live their lives. Bibliography: Works Cited Kielburger, Craig. ?It Starts With Me.? Guideposts November 1999 Parker, Dr. David. ?Stolen Dreams: Portraits of Working Children.? http://www.busph.bu.edu/Gallery/Introp.html 18 December 1999 Cleland, Hugh G. ?Child Labor.? Encyclopedia Americana. 1991 ed. Holstein, William J. ?Santa?s Sweatshop.? U.S. News and World Report 16 December 1999. http://www.geocites.com/CollegePark/Library/9175/inquiryl.html

The Inferno by Dante Alighiere Essay -- essays research papers

The Inferno by Dante Alighiere Translated by John Ciardi „ «Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Summary of plot, organization and resolution o  Ã‚  Ã‚  Ã‚  Ã‚  The Inferno is the first of a three part series by Dante known as the Divine Comedy. In this Divine Comedy Dante chronicles his journey to God through the levels of Hell, Purgatory, and Paradise. The Inferno is his description of his journey through the levels of Hell. The Inferno begins with Dante lost in a dark wood, which possibly represented sin. Dante tried to exit the wood, but three impassible beasts blocked his path. Dante is rescued when the spirit of Virgil is sent to lead him to salvation, however, Dante must journey through hell to reach salvation. Dante and Virgil then journey through the levels of hell, with the occasional help of a heavenly messenger sent to aid Dante in his journey. Virgil describes Hell as cone shaped, made up of increasingly smaller levels depending on the severity of the sins which a person committed. The levels of Hell were often sub-divided allowing for even more discrimination depending on the severity of your sin. Dante com pletes his journey through hell when he and Virgil reach the deepest pit of hell, where they climb down the body of Lucifer to emerge in the southern hemisphere. „ «Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Tie to the middle ages and/or transition to the renaissance o  Ã‚  Ã‚  Ã‚  Ã‚  The Inferno in some ways follows the mold of the middle ages, but the o...

Communication Opinion Paper

Communication Opinion Paper Christine Kendall HCS/320 November 18, 2012 Tralicia Brown Communication Opinion Paper Introduction Effective communication in health care is crucial for health care professionals, the patients and the establishment providing the care. It can mean the difference between life and death. When there is not enough communication within the health care industry, medical care will not be given effectively due to mistakes that will be made when things are not clear.When lives are at stake, effective communication is a must in the health care industry. Effective Communication and its Elements Effective communication involves more than understanding information that is being conveyed. How a person understands and receives a message are two different things therefore understanding feelings, thoughts, wants, and needs are crucial in effective communication (Cheesebro, O’Connor, & Rios, 2010). The success of every relationship whether it’s personal or pro fessional relies on a person’s ability to communicate effectively.Becoming a skilled communicator requires learning the elements necessary for effective public speaking, interpersonal relationships, and business relations. The four basic elements of effective communication are sender, receiver, message, and feedback. The first component is the sender/receiver which acts as a transceiver by speaking to someone and receiving nonverbal feedback simultaneously. â€Å"The message is the idea, thought, feeling, or opinion to be communicated† (Cheesebro, O’Connor, & Rios, 2010, chap 1).It is important to recognize not only the content of the message, but also the nonverbal communication that you may be sending as well. â€Å"Feedback is the receiver’s response to the message and indicates how the message is seen, heard, and understood, and often how the receiver feels about the message and/or the sender† (Cheesebro, O’Connor, & Rios, 2010, chap 1). Elements of Effective Communication and Rules of Health Care Communication Health communication is â€Å"the way we seek, process and share health information† (du Pre, 2005, pg 8).Health communication is based on personal goals, skills, culture, situational factors, and being considerate of other people’s feelings (du Pre, 2005). People are influenced greatly by other people and rely on others to help meet their goals. As du Pre (2005) explains health care providers have many goals such as patient health and showing their knowledge. Patient’s also have many goals when it comes to their health care such as wanting to get better and to be reassured. Whether or not these goals are met is based on effective health communication.Recognizing interdependence and that no one communicates alone has influence on the effectiveness of communication. Being friendly and honest will help others feel comfortable enough to be friendly and honest with you. People who communicat e well are sensitive to other people’s feelings and expectations. This includes listening carefully, being aware of other cultures and their personal preferences. Another example of effective communication in health is recognizing shared meaning. What an action means depends on the people and the circumstances involved† (du Pre, 2005, pg 8). This is usually based on how people respond to each other by smiling, nodding their head, or an angry look. This will let you know how people are responding to your conversation (du Pre, 2005). How to Communicate Candidly Effective interpersonal communication between a patient and a health care provider is one of the most important elements in patient satisfaction, compliance and the outcome of patient health.Despite this acknowledgement of the importance of interpersonal communication, in medical training the subject is not always emphasized. Effective interpersonal communication can lead to the patient offering enough information to lead to a diagnosis, the provider and the client both can discuss an acceptable treatment plan, the client and the provider are both committed to fulfilling their responsibilities during and after treatment (de Negri, Brown, Hernandez, Rosenbaum, & Roter, 2012).The following steps to effective communication and encouraging the client to communicate candidly include: encouraging a two-way dialogue, establishing a partnership between client and consumer, creating a caring atmosphere, bridging any social gaps between provider and client, accounting for social influences, effectively using verbal and non-verbal communication, and allowing the client enough time to tell their story (de Negri, Brown, Hernandez, Rosenbaum, & Roter, 2012). Cultural Differences and CommunicationExcellent cultural communication skills are beneficial to relationships with colleagues, clients, and customers and improve business performance. If challenges and opportunities are handled well when working with p eople from different cultural backgrounds, they can increase productivity, improve performance, innovation, and progress (Kaplan & Cunningham, 2010). There are a few tips when conversing with someone from a different culture which can increase your chances for being understood. These are: Know yourself and your own cultural Context. Read also: â€Å"Advice About Communication†Think about how your culture context impacts your communication style. Know your audience. Some cultures are more direct than others, speaking less verbally and rely more on nonverbal communication. Yes does not always mean yes. Respect English language barriers. When speaking to someone who does not speak English there are tips to make sure that you are being understood. These tips include: speak slower, avoid the use of slang words, take breaks in the conversation and don’t surprise people.Respect your audience and do not judge. Try looking at situations with different cultures as different not right or wrong. Ask questions to make sure they understand. (Kaplan & Cunningham, 2010). Conclusion Due to the fact that when there is not enough communication within the health care industry, medical care will not be given effectively, it is crucial for health care professionals to learn the skills necessary for effective communicati on. It can mean the difference between life and death.