This Financial Audit Report Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2717 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The first section of this financial audit report is to briefly explain the company background of the companies of Bonia Corporation Berhad and Parkson Holdings Berhad. Following by the first section, the second section is to examine the market share price movement of the companies from correlation coefficient and regression line of the best fit, to measure that risky and prediction when invests in market share prices. Through the market share prices movements, efficient market hypothesis and random walk theory have to explain in this report. Don’t waste time! Our writers will create an original "This Financial Audit Report Finance Essay" essay for you Create order Lastly, this report also identifies the methods of security valuation methods which are needed to mention when the author wants to value the share prices of the companies. Besides that, this report also presents important of capital budgeting in decision ruling when appraises investment in projects. With the framework, author has determine the different of security valuation and capital budgeting. Bonia Corporation Berhad Company Background Bonia Corporation Berhad is mainly focuses in fashion retailing, marketing and manufacturing, which has provided high quality and fashion of leather goods. There have 883 sales outlets and 103 boutiques in around the world. The Bonias history was started in 1977 year, which Mr. Chiang Sang Sem, the Bonias founder, and now was Executive Chairman in Bonia Group, had apply Bonia of brand name because of inspired from the artwork of Giambologna, Italy. In 1980, the Bonia Group had succeed became market leader in Malaysia and Singapore and was listed on the Bursa Malaysia, Kuala Lumpur Stock Exchange (KLSE). Then Bonia Group had succeeded expanded and had its subsidiaries company. Now the Bonia Group has succeed added more international brands, which are Pierre Cardin, Braun Bruno, Magli, Buffel, and Renoma to its collection of brands with the gaining of 70% equity in Jeco (Pte) Limited. Corporate Goal The main corporate goal of Bonia Corporation Behad is to be the recognized international brand with lists in the public listed companies in the region. According to Bonia Groups vision, Bonia Group will establish more 30 countries and will focus in 5 countries in 2015 year. Furthermore, Bonia Group forecasts to have 1billion earnings and at least have 12% before the tax in yearly. Financial Reporting and Performance According to the annual report 2011, Bonia Groups profits have increased 28% to RM461.4million with RM54.8 million from contribution of Jeco (Pte) Limited and RM24.0 million in consignment sales Malaysia. Then Bonia Group has earned RM56.5 million before tax with 24% and RM14.8 million before tax in Jeco (Pte) Limiteds contribution. However, there still have losses of RM5.4 million from joint venture business in Vietnam. Future Forecast Apart on Bonia Groups forecasting, Renoma Cafeacute; Gallery has chosen as the master Franchisee from Licensor, Renoma S.T.A.R. for Singapore, Indonesia and Malaysia and launchs 1st concept in 2012 year. Besides, Bonia Group has rebuilt the retail in Vietnam because of arguing with partner. It forecasts will be the temporary because of supporting by Vietnams departmental stores. Bonia Group forecasts to launch first boutique at Grand Indonesia Shopping Town in Jakarta. Parkson Holdings Berhad Company Background Parkson Holdings Berhad is a Malaysia investment holding company which was under Companies Act in 1965 year and has named as Amalgamated Cement Mills Sdn Bhd in 1982 year. When 1992 year, it had changed to a public company with Pakson name and had listed to Bursa Malaysia in 1993 year. It had joint venture in Parkson Retail Group Limited and Parkson Retail Asia. It has 89 department stores in China, Indonesia, Vietnam, and Malaysia, which 7 stores in Indonesia are under the brand name of a Kem Chicks Supermarket and Centro Lifestyle Department Store, and 8 stores in Vietnam, 37 stores in Malaysia are under brand name of Parkson. Corporate Goal Parkson Group has the corporate goal which offers more international brands to join venture in consignment of department stores. Parkson Group is using the strategy of consistent market positioning, localization and focusing Fashion, Cosmetics, Household and Electrical to achieve objectives with target of young and contemporary market segments. Financial Reporting and Performance In 2011, Parkson Group has earned gross sales of RM9.49 billion, which had increased 10% and earned operating profit of RM971 million which had increased 11%. Besides, Parkson Group also had earned the net profit RM348 million, which had increased 22%. Moreover, Balance sheet of Parkson Group maintains healthy in 2011 with funds of more than RM2 billion to shareholders. Future Forecast Parkson Group has planning to focus in expanded new retail markets to more countries. Then it has to maintain partnership with the Indonesia which has following the listing of shares of SGX-ST for future forecast. Parkson Loyalty Card programme, which is emphasized, also is the future forecast of the company to gain more consumers. Market Share Price Movement of PARKSON and BONIA Share price movement is determined to estimate the future cash flows and share price in the company. This report has done to determine the share prices movement of Parkson and Bonia. Market Share Price Month PARKSON HOLDINGS BHD Market Share Price Bonia Corporation Berhad Market Share Price Jan 5.95 1.81 Feb 5.66 1.8 Mar 5.73 1.8 Apr 5.87 1.85 May 5.92 1.85 June 7.73 1.81 July 6.12 1.81 Aug 5.89 1.73 Sep 5.82 1.65 Oct 5.69 1.72 Nov 5.81 1.96 Dec 5.84 2.07 Scatter Diagram Graph Scatter Diagram is a technique that uses to determine relationship between two months and to determine how the financial market works and the risk of company. Below is the table of monthly share price Parkson, which uses to plot scatter diagram graph market share prices. PARKSON HOLDINGS BHD Month x y Month JAN 5.95 5.66 FEB FEB 5.66 5.73 MAR MAR 5.73 5.87 APR APR 5.87 5.93 MAY MAY 5.92 7.73 JUN JUN 7.73 6.12 JUL JUL 6.12 5.89 AUG AUG 5.89 5.82 SEP SEP 5.82 5.69 OCT OCT 5.69 5.81 NOV NOV 5.81 5.84 DEC DEC 5.84 2.2.1 Scatter Diagram Graph of PARKSON HOLDINGS BHD The graph above has showed that the correlation between 2 months of the share price of Parkson, which the highest is on June RM7.73 and the lowest, is on February RM5.66. BONIA CORPORATION BHD MONTH x y MONTH JAN 1.81 1.8 FEB FEB 1.8 1.8 MAR MAR 1.8 1.85 APR APR 1.85 1.85 MAY MAY 1.85 1.81 JUN JUN 1.81 1.81 JUL JUL 1.81 1.73 AUG AUG 1.73 1.65 SEP SEP 1.65 1.72 OCT OCT 1.72 1.96 NOV NOV 1.96 2.07 DEC DEC 2.07 2.2.2 Scatter Diagram Graph of BONIA CORPORATION BHD The graph above is scatter diagram of Bonia, which the highest is on December RM2.07, and the lowest, is on October RM5.66. Based on the scatter diagram graph, it also has showed Parksons correlation between 2 months is strong than Bonia. Calculation of Correlation Coefficient However, it needs to use calculation of correlation coefficient to measure more accurately that weak and strong of correlation between 2 months are interpreting. It takes on values ranging between +1 and -1. PARKSON x y xy x ² y ² 5.95 5.66 33.68 35.40 32.04 5.66 5.73 32.43 32.04 32.83 5.73 5.87 33.64 32.83 34.46 5.87 5.92 34.75 34.46 35.05 5.92 7.73 45.76 35.05 59.75 7.73 6.12 47.31 59.75 37.45 6.12 5.89 36.05 37.45 34.69 5.89 5.82 34.28 34.69 33.87 5.82 5.69 33.12 33.87 32.38 5.69 5.81 33.06 32.38 33.76 5.81 5.84 33.93 33.76 34.11 5.84 5.95 34.75 34.11 35.40 72.03 72.03 432.74 435.78 435.78 The formula of Correlation Coefficient The answer shows that the correlation coefficient of Parkson following by the 2 months is 0.11. It means that the correlation efficient of between 2 months of the share price are weak. BONIA x y xy x ² y ² 1.81 1.80 3.26 3.28 3.24 1.80 1.80 3.24 3.24 3.24 1.80 1.85 3.33 3.24 3.42 1.85 1.85 3.42 3.42 3.42 1.85 1.81 3.35 3.42 3.28 1.81 1.81 3.28 3.28 3.28 1.81 1.73 3.13 3.28 2.99 1.73 1.65 2.85 2.99 2.72 1.65 1.72 2.84 2.72 2.96 1.72 1.96 3.37 2.96 3.84 1.96 2.07 4.06 3.84 4.28 2.07 1.81 3.75 4.28 3.28 21.86 21.86 39.87 39.95 39.95 The answer shows that the correlation coefficient of Bonia following by the 2 months is 0.38. It means that the correlation efficient of between 2 months of the share price are weak. However, it still better if compares with Parkson. Calculation Regression line of Best Fit According to Sir Francis Galton (1822-1911), which had developed scatter diagram and correlation coefficient, also had identified regression line that used to do prediction. Equation of x (current share price) and y (predicted share prices) Formula Regression Line of Best Fit PARKSON Therefore, 2.2.2.1 Regression Line Best Fit of PARKSON HOLDINGS BHD is the equation line of Parkson. Therefore, it can use to predict the share prices for future. For example, if this month the share price (x) is RM6.0, And the next months share price also will be RM6. Based on the graph, it also has showed Parksons share prices are more stable. BONIA 0.38 1.8217-0.692 Therefore, 2.2.2.2 Regression Line Best Fit of BONIA CORPORATION BHD is the equation line of Bonia. There also can use to predict the share prices for future. For example, if this month the share price (x) is RM2.0, And the next months share price also will be RM2.64. Based on the graph, it also has showed Parksons share prices are more risky, if compares with Parksons regression line of best fit. Time Series Graph Time series is a collection of market share prices then shows that which month is the highest and lowest, and the upward or down turn in the market. PARKSON HOLDINGS BHD 2.3.1 Time Series Graph of PARKSON HOLDINGS BHD Based on the graph above, the share prices of Parkson has moved down on January to February and moved up again on March. The most transmutation in Parkson is on May which moved up to June then moved down again to July. BONIA CORPORATION BHD 2.3.2 Time Series Graph of BONIA CORPORATION BHD Based on the graph above, the share prices of Bonia has moved moderate in early of the year 2011. Then the share prices start move down on August to September and move up again on October. Calculation of Correlation Coefficient Same with 2.2.1 calculation for scatter diagram, now is calculate correlation coefficient of time series of Parkson and Bonia to determine the relation between month and share prices. PARKSON x y xy X ² Y ² 1.00 5.95 5.95 1.00 35.40 2.00 5.66 11.32 4.00 32.04 3.00 5.73 17.19 9.00 32.83 4.00 5.87 23.48 16.00 34.46 5.00 5.92 29.60 25.00 35.05 6.00 7.73 46.38 36.00 59.75 7.00 6.12 42.84 49.00 37.45 8.00 5.89 47.12 64.00 34.69 9.00 5.82 52.38 81.00 33.87 10.00 5.69 56.90 100.00 32.38 11.00 5.81 63.91 121.00 33.76 12.00 5.84 70.08 144.00 34.11 78.00 72.03 467.15 650.00 400.38 0.0154 0.00024 The answer shows that the correlation coefficient of Parkson following by the months and share price is 0.0154. It means that the correlation efficient of between months and share price are very weak. BONIA x y xy X ² Y ² 1.00 1.81 1.81 1.00 3.28 2.00 1.80 3.60 4.00 3.24 3.00 1.80 5.40 9.00 3.24 4.00 1.85 7.40 16.00 3.42 5.00 1.85 9.25 25.00 3.42 6.00 1.81 10.86 36.00 3.28 7.00 1.81 12.67 49.00 3.28 8.00 1.73 13.84 64.00 2.99 9.00 1.65 14.85 81.00 2.72 10.00 1.72 17.20 100.00 2.96 11.00 1.96 21.56 121.00 3.84 12.00 2.07 24.84 144.00 4.28 78.00 21.86 143.28 650.00 39.95 On the other hand, coefficient of Bonia between months and share price is. Although the correlations efficient are very weak, but it still better if compares with Parkson. Calculation Regression line of Best Fit Same with 2.2, regression line of best fit also has used to determine in time series. PARKSON Therefore, is the equation line of Parkson. BONIA 0.002 1.8217-0.013 Therefore, is the equation line of Bonia. Market efficiency hypothesis Efficient capital market, which security prices change rapidly following by new information and, therefore, the current prices of securities reflect all information about the security. It is important to analyze capital markets efficiency and understand the efficient market hypothesis because its results of researches have significant real-world implications for investors and portfolio managers. An efficient market is requires a large number of profit maximizing participants analyze and value securities. Random Walk Theory Random walk theory is defines by the fact that price changes are independent of each other (Brealey et al, 2005). Actually random walks is connected to efficient market hypothesis, which if more efficient the market, the more random of share prices will change. Investors cannot accurately predict the share prices no matter with the correlation coefficient and regression line of best fit. Thus, share prices always fully reflect the information available and no profit can be made from information based trading (Lo and MacKinley, 1999). Different Forms of Market Efficientcy According to FAMA, there have three sub hypotheses in efficient market hypotheses which are weak efficiency, semi-strong efficiency and strong efficiency. 2.4.2.1 Weak Efficiency The weak forms of the efficient market hypothesis states that share price fully reflect all historical information. It means that past rates of return and other historical share prices do not have relationship with future rates of return, which is rates of return should be independent. 2.4.2.2 Semi-strong efficiency The semi-strong form of the efficient market hypothesis states that share prices will adjust immediately and in an unbiased manner to reflect new information, which is made publicly available. This does not mean that everybody has to have the same opinions about the significance of the new information. Prices will reflect the view of the market, which will automatically be the best interpretation of the mechanism. The implication of this is that a share can never be over or under prices according to the information, which is publicly available. 2.4.2.3 Strong efficiency The strong form of the efficient market hypothesis states share prices reflect all information. This means that no investors have monopolistic access to information related to the prices. The strong form efficient encompasses both weak form efficient and semi strong form efficient. Further, the strong form efficient will get more assumption of efficient markets, to assume perfect markets, in which prices adjust to the release of new news. Technical and Fundamental Analysis Based on the study of past share prices, many financial analysis seems to be view because of capital market are inefficient. A technical analysis or chartist has occurred to predict future price movements from prices. Besides, fundamental analysis is study publicly available information such as published accounts in order to try to identify the real worth or intrinsic value of shares, which may be more or less than the share price. Anomalies in the behavior of share price Many such anomalies have been reported and investigated in the quest to understand the behavior of share prices (Fama 1998). Calendar effects There has some calendar effects have been examined, which trading at particular times of the day can lead to negative or positive returns. One study found a significant monthly effect wherein all the markets cumulative advance occurred during the first half of trading months. An analysis of the weekend effect found that the mean return for Monday was significantly negative during 5 year sub periods and a total period. In contrast, the average return for the other 4 days was positive. The size anomalies The returns from investing in smaller companies have been shown, in the long run, to be greater than the average return from all companies. One study, for example, found that small firms outperformed large firms by 6% per year (Dimson and Marsh 1986). It has been suggested that above-average returns from small companies may compensate for the greater risk associated with them, such as the risk of financial distress. Concepts Security Valuation and Capital Budgeting Security Valuation Security Valuation is the valuation on the net assets of company which willing or able to let investors invest to the company. With the analysis of valuation, investors can determine which companys share prices are under or over valued, and make the decisions in investment. 3.1.1 Asset Valuation Net asset Backing is more appropriately referred to as net tangible assent backing because it excludes intangible assents such as goodwill. And it is sometimes used as a measure of the underlying value of a companys shares in the grounds that it represents what shareholders are entitled to in the event that a company is wound up, it can then be compared with the current price of a companys shares. Parkson 1. Net Assets Method Of Share Valuation Total Assets 7,270,943,000 Intangible Assets 1,235,534,000 Total Liabilities 3,887,578,000 Net Assets Value of Equity 2,147,831,000 No. of Ordinary Shares = 1,093,673,000 Value Per Share = Net Assets Value of Equity divide; No. of Ordinary Shares = 1.964 Income Based Price Earnings Ratio (P/E) Earning Yield (EY) Bonia Asset Valuation Net Assets Method Of Share Valuation Total Assets 373,250,000 Intanglible Assets ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ 68,848,000 Total Liabilities ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ 126,263,000 Net Assets Value of Equity 178,139,000 No. of Ordinary Shares = 201,572,000 Value Per Share = Net Assets Value of Equity divide; No. of Ordinary Shares = 0.88 Income Based Price Earnings Ratio (P/E) Earning Yield (EY) Asset Valuation PARKSON BONIA Net Assets 1.96 0.88 P/E 4.46 2.30 EY 8.77 2.38 Market Value 5.84 2.07 Market Value Capitalization EY Capitalization As a result, Parksons market value has over valued, which market capitalization is RM, but had growth in. It means that Parkson has gained more profit. On the other hand, market capitalization of Bonia also has over valued which RM417, 254,040 but has growth the profit to 478,965,884. It means that the Bonia also has earned more profit. If compared with Parkson, investors are able to invest in Parkson because of Parkson has earned more profit than Bonia according to the valuation above. Capital Budgeting A capital budgeting decision is one that involves the allocation of funds to projects that will have a life of at least one year and usually much longer. Basic capital budgeting decisions determine whether there is under or over capacity in a given firm or within an industry. Whether the marketing manager gets a new product approved for production and distribution may be a function of how well he or she provides data into the capital budgeting process and understand the analysis. 3.2 Importance of Capital Budgeting A proper making decision on capital budgeting is important in increasing a companys value as well as maximize shareholders wealth. It also has involved in long-term implication for the company and might get risk in complexion. If investment projects have failed in the future, the company will have to bear the burden of fixed cost. Besides, capital budgeting is not easy to reversible because it is difficult to search market assets.

How Boys Become MenA Rites Of Passage For African-American

How Boys Become Men: A Rites of Passage for African-American Boys Adolescence can be the most crucial part of a person’s development. It is the time of transition into adulthood. The experiences gathered this time of a person’s life have lasting effects that linger long into adulthood. Proper guidance and support during this time is a person’s life is essential to ensuring that the person is able to become a successful adult in society. However, many African-American youth are lacking this type of support and guidance during this critical stage in life. Disproportionately some African American male adolescents aren’t provided proper mechanisms for their transition to manhood. Some sociologists believe that the lack of a rites of†¦show more content†¦Without structural guidelines to follow, this may lead these individuals to adopt rules that may be more negative than positive. While prevalent within the African- American culture, this is expe rienced by many adolescent boys in the United States as stated within The Norton Sampler 8th Edition, â€Å"Boys live in a world with its own Code of Conduct, a set of values of ruthless, unspoken, and unyielding rules†( Katz 317). However, in American media and culture it is evident that African-American boys encounter more hardships and are more prone to making bad decisions. In order to combat this, implementation of rites of passage would suffice. One important aspect of African rites of passage is explicit guidance. Boys are signaled to begin their transition into manhood by first being separated from childhood roles and sometimes their parents (Baker, â€Å"Egbe Akokonrin Rites of Passage†). This activity would be the first step of the program and initiated by an adult who has undergone this rites of passage program previously. 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Contract Law Case Study of Marvin with ACME Electrical

Question: Contract Law Scenario Marvin has a signed contract with ACME electrical testing, it is agreed that ACME will test the electrical equipment in his hotel (including TV's) every 6 months for a fixed amount of $300.00. ACME have just attended and Marvin finds out that they have not tested any of the TVs in the hotel and only half the equipment. Using case law in support outline the legal argument each party might use and reach a conclusion on the likely result. Answer: In the present scenario it can be seen that Marvin has entered into a contract with ACME which is an electric equipment testing company, It was decided in the contract that ACME will test the equipment belonging to Marvins hotel and it included television sets as well, the contract was worth $300and ACME would do it in every six months, but on inquiry it was found out that the contract was not properly performed because all the television sets were left unchecked and even half of the hotel equipment was not checked. Thus the final outcome of this event is required to be ascertained The following case can be resolved using the case study Reviving Jacob Youngs, INC v Kent, this case was regarding material breach of contract, in the following circumstances the contract can said to be materially breach was decided that When the occurrence or performance of the contract depends on that event and the amount of loss or inconvenience caused to the aggrieved party, It is also measured by the amount of compensation that can be received by the aggrieved party towards the indemnification of the loss caused by the breach and the forfeiture which the party failing to perform the contract would suffer and finally The possibility of the party failing to perform the contract to perform it in the right manner in future or is there any assurance In the case of National Power Plc v United Gas Co Ltd (1998) it was decided that the innocent party would lose way too much thus this case law can be applied to the following case in the following case ACME has not performed more substantial part of the contract as it can be seen that none of the television sets and most of the equipment has not been tested, for it was mentioned that ACME would be paid $300 for the purpose of testing the equipment in every six months which included the television sets. In the case of Dalkia Utilities Services Plc v Celtech International Ltd (2006) it was seen that the innocent party can come out of the contract as well as sue the other party for damages Marvin can sue ACME in the court of law for material breach of the contract as substantial part has not been performed by ACME, thus he can sue the company for paying him the damages as nothing has been mentioned about the re performance of the contract, thus he can claim the money he paid to the company, there is no mention about the intention of ACME i.e. was the breach intentional or it was not intentional and it was an innocent mistake, thus Marvin can plead to the court that the breach was intentional. On the other hand ACME in its defense can raise the following points in the court i.e. the breach was unintentional, the contract would be performed again in a better manner and It was an immaterial breach and would pay Marvin the rest of the amount Thus the above mentioned points can be raised by ACME in the court of law for its defense. If the former proves his point in the court then ACME has to give back all the amount taken by it to Marvin and thus the contract would be cancelled and ACME would not get the fees for testing the equipment in Marvin. If ACME can prove that the breach was immaterial than it has to pay the amount for which the work has not been done by it. This it can be said that options have been provided to both the parties in the contract and they can use them in their favor in the court of law (Van der Warden, Natalie, 2013). So it can be finally concluded by saying that there has been breach of contract whether material or immaterial would be decided by the court upon viewing the facts of the case References 1. Andy Gibson, Douglas Fraser, Business law, (Pearson Australia, 7th edition, 2013)2. Baldwin, Robert, Martin Cave and Martin Lodge, Understanding Regulation: Theory, Strategy, and Practice (Oxford University Press, 2nd ed, 2012)3. Graw, Stephen, An Introduction to the Law of Contract(Lawbook, 6th ed, 2008)4. Dalkia Utilities Services Plc v Celtech International Ltd (2006) 2 CPD5. Jacob Youngs, INC v Kent (1997) 1 KB6. National Power Plc v United Gas Co Ltd (1998)

Epoxy Resins Essays (297 words) - Adhesives, Synthetic Resins

Epoxy Resins The group of synthetic resins called epoxies produce the strongest adhesives in current use, as well as plastics and corrosion-resistant coatings. Epoxy adhesives are thermosetting; that is, after initial hardening, they cannot be remelted by heat. They have excellent resistance to solvents and weathering agents, and high electrical and temperature resistance. Their adhesion to almost any type of surface--including metal, ceramic, wood, and fabric--is unmatched. Epoxies are usually made by reacting epichlorohydrin and Bisphenol A to produce a polymer chain of somewhat complex structure. The end of the polymer chain is an epoxy group from epichlorohydrin; the resulting plastic receives its name from the end epoxy group. The unmodified epoxies are brittle; however, the properties of the cured resin can be varied widely by the selection of a suitable resin, curing agent, filler, and curing procedure. Flexible grades are modified with polyamines and polysulfides. Most epoxy formulations have two components that are mixed for curing. One-component epoxies are available that either contain a latent curing agent or are simply cured by absorption of oxygen from the air. Unlike most thermosetting plastics, epoxies shrink only slightly during curing. Epoxies can be used as filler-adhesives; the strength of the cemented joint is independent of its thickness. The epoxies are used as molding and potting compounds, reinforced plastics, surface finishes, and adhesives. Molding compounds are chiefly used by the electronic and electrical industries; potting compounds are poured to encapsulate small electronic parts. Epoxy paints have outstanding corrosion resistance and are permitted for use on food equipment such as flour bins and can coatings. Large and complex dies for the forming of metal sheet are made of epoxy and are often modified with powdered metal such as aluminum. Uses in construction include the repair and bonding of concrete and also epoxy terrazzo floors. Adolf Hitler Bibliography Lee, Henry, ed., Epoxy Resins (1970); Hilado, Carlos J., Carbon Reinforced Epoxy Systems (1984).

Where Should I put my Quotation Marks Slate Magazine and the Rise of Logical Punctuation.

Where Should I put my Quotation Marks Slate Magazine and the Rise of Logical Punctuation. On May 12, 2011, not one, but TWO of my friends and colleagues pointed me toward an article in Slate Magazine entitled, â€Å"The Rise of Logical Punctuation†. In the article, author Ben Yagoda explores the nuances of where to place periods and commas within quotations (inside or outside the quotation marks?).   Not long ago, I wrote an article touching upon much the same topic:   The Quandary of Quotation Marks (â€Å" â€Å").   My conclusion was that the British are much more logical than we are in the U.S., following the rule that punctuation goes inside the quotation marks only when it is part of the quotation.   How simple is that?   And yet I continue to follow the U.S. protocol. Slate Magazine itself, as well as The New York Times and the Washington Post, follow AP guidelines and put periods and commas inside the quotation marks.   But Yagoda references a Twitter post by Conan O’Brien, a Wikipedia entry on Frank Sinatra, and the website Pitchfork, all of which follow the British way, with periods and commas lying outside the quotation marks.   He also relates that his students largely refuse to follow the traditional U.S. rules even when they know they will be penalized for doing so.   I highly recommend taking a look at his article for an interesting exploration of why we choose to punctuate the way we do. Last week my blog explored the distinction between grammar purists and progressives in Steven Sawyer’s guest article, Top 10 Obsolete Grammar Rules.   It looks like we can add number 11.   According to Yagoda, despite the Chicago Manual of Style’s adherence to the traditional style, we may be fast on our way to an obsolete punctuation rule – another feast for progressives.   As Yagoda claims, â€Å"A punctuation paradigm is shifting.†Ã‚   Note:   even under the â€Å"new† rules, or the â€Å"new normal,† the period belongs inside those quotation marks because it was indeed part of the original sentence in Yagoda’s article.   Crystal clear, right? By the way, â€Å"new normal† was the phrase chosen as â€Å"Cliche of the Week† last week by Chris Pash in his blog. Do you choose to follow the progressive â€Å"new normal† when it comes to quotation marks?   Or will you remain a purist?   So far I’m sticking with the old fashioned way, but I feel a possible change erupting. Category:Grammar Writing TipsBy Brenda BernsteinMay 23, 2011 1 Comment Steven Sawyer says: October 20, 2011 at 5:15 pm Brenda, good stuff. And thanks for the mention of my guest article. I wanted to share that I correspond regularly with teachers and students from places like Russia, Ukraine, Greece, Argentina and Columbia. It appears to me, from their comments and writing that these countries are leaning more heavily towards learning British English, not only in punctuation and grammar, but in spelling as well. For example, the British spelling of these words differs from how we spell them: centre, litre, metre, colour, favour, honour, labour, to name just a few. Do you think we will ever adopt British English if it becomes the standard for most of the rest of the world? Log in to Reply

Appropriate Ways That Leader Should Use In School To Be Loved By Research Paper

Appropriate Ways That Leader Should Use In School To Be Loved By Subordinates - Research Paper Example Some people can use ideas to inspire others and this can be a good way for making people respect and love one as a leader. Therefore, the success of any leader is the establishment of good relationship with the subordinate. This is especially important when dealing with an education system where the leader is mainly the principle and the subordinates are the teachers. In many cases, leadership is a tool that is used in an institution to modify behaviour. This is because it helps to determine the goals of the organization as well as objectives expected. This means that the willingness of individuals to follow a person is what makes them a leader. Therefore in any leaning institution, success will mainly depend on the leadership style to be used by the head teacher. Therefore, the main focus of this paper is to find out the most appropriate ways the school leaders can use in order to gain favour from the subordinates. Research Objectives To review leadership styles successful in schools To examine the most effective leadership styles and how they affect the relationship among subordinates in the school. To review and interpret various leadership models adequate enough to run a school Leadership in schools in relation to Social Intelligence It is important to understand the meaning of the different terms used. Leadership is a complex term to explain. This is because in the traditional setup, leadership is used to bring about respect, teamwork and obedience. Leadership can also be defined as an influence that makes people act in a particular manner. On the other hand social intelligence is basically the ability to understand as well as manage people to act wisely in human relations (Goleman, 2006). This is because this is a factor that mainly affects people’s behaviours and interaction. Therefore, in the case of a school administrator and the subordinates, there is a huge relationship between the applicable leadership styles to social intelligence. This is because for a leader to be loved and respected by the subordinate, then one must also be able to understand the people and also interact with them without any difficulties. Results of the research Social intelligence principles There are numerous social intelligence and leadership principals that are applicable in the case of school leaders and their subordinates. Social intelligence is the ability to get along with others and also get them to cooperate with you. These principals are discussed herein. Humanization Social intelligence needs people to recognize humanity in others. This is a crucial aspect in leadership because people are supposed to be aware of what other people are capable. Therefore for a school administrator who needs to be loved by his subordinate, it is important to make sure that he considered other people’s feelings and also shun away from manipulating the subordinates.

In the context of capital market research what is the importance of Literature review

In the context of capital market research what is the importance of published financial information and the information content - Literature review Example Moreover, it has been proved that financial information and information content of earnings have the power to affect the investors’ decision making process. The interaction between the overall model of investor’s decision making and the published financial information, as well as the information content of earnings, is critically discussed in this paper. The justification of the above model in the context of the current financial crisis is evaluated. In order to secure that all the issues discussed above are covered, the paper has been divided into several sections, highlighting the various aspects of this paper’s subject. Apart from the introduction section, where the overall scope of the paper is presented, of particular importance are the literature and the Discussion sections. In the literature review section the following issues are addressed: the key characteristics of market research and its value on financial reporting, the published financial information and the information content of earnings as factors influencing investors’ decision making and potential use of the model of investors’ decision making within modern market which is under the continuous pressures of global financial crisis. The value of the literature findings in the context of the present crisis are further analyzed in the Analysis and Discussion section, so that valid assumptions are developed in regard to the study’s key subject. In the last section of the paper, Conclusion and recommendations, the key findings of the research developed for the issues addressed in this paper are summarized and recommendations are made, as appropriate, so that future failures are avoided. 2. Literature Review 2.1 Market research – characteristics and relation with financial reporting Market research is employed in a variety of business activities. For example, when having to decide in regard to the entrance of the business in a new market or in regard t o the development of a new product/ service market research is used for gathering information related to the host market or the consumer preferences as related to the new product/ service (Wahlen et al. 52). In regard to financial reporting and investment decision making, market research has a similar role. It helps to gather information required in developing a firm’s financial statements so that the position of the firm and its competitiveness is made clear (Wahlen et al. 52). Market research can be developed through a high range of research methods, such as surveys and field studies (Wahlen et al. 52). Preferably, market research should be based on empirical research methods, aiming to show the current market trends in regard to one or more critical business sectors. Capital market research is part of market research, it its broad meaning. Capital market research focuses on the review of ‘value-related information, such as share prices’ (Wahlen et al. 52). At this point it would be necessary to explain the key context of financial reporting, as a key activity in all organizations. Carmichael, Whittington and Lynford note that financial reporting is a process ‘for gathering information that will be used by investors or creditors for developing their investment or credit decisions accordingly’ (Carmichael, Whittington and Lynford 62). In general, financial reporti