Discusses the Importance of Truth in The Catcher in the Rye

From the very beginning of the novel, Holden decides what you want to hear, and what hes going to tell you. He refuses to talk about his parents past because that stuff bores me, and his parents would have about two hemorrhages apiece if I told anything pretty personal about them.(page 1) Throughout the novel, he avoids telling the truth about anything too personal or boring. This suggests he thinks nothing of being economical with the truth for his own convenience. He certainly seems eager to decide for himself how much hes going to tell you. Im not going to tell you my whole goddamn autobiography or anything. Ill just tell you about this madman stuff that happened to me.(page 1) He also informs us that he hasnt†¦show more content†¦Another truth that Holdens casual attitude might distract us from, is whom hes really talking to. There are a few vague references to his location in the opening pages. Just before I got pretty run down, and had to come out here and tak e it easy. That isnt too far from this crummy place, and he comes over and visits me practically every weekend. But these references dont indicate who hes talking to exactly. We already assume that hes told his brother something similar to the story hes about to tell, and its a fair assumption that he was in the same location at the time, since his brother often visits. It doesnt seem important to know the truth about whom Holdens really talking to. The books casual tone helps the reader relate to Holden, and since they dont know who hes talking to, the casual reader may assume that Holdens talking to them. This is responsible in part for the books status as a cult classic. Since most of the novel takes place in the recent and distant past, the truth about Holdens current location seems unimportant. It is more important, in certain instances, during the text to imagine the location or scene that Holden is describing. Its more useful to picture the museum, for example, to relate to the way Holden feels about it, especially when he finally enters. Its important to picture this scene to understand why it upsets Holden so much. Picturing theShow MoreRelatedHow Salinger’s Holden Caulfield Relates to Teenagers Throughout Time1412 Words   |  6 PagesHow Salinger’s Holden Caulfield Relates to Teenagers Throughout Time In 1951, J.D. Salinger’s The Catcher in the Rye was #1 on the New York Time’s bestseller list. Since then, the American Literary Association claims The Catcher in the Rye is a â€Å"favorite of censors.† The use of harsh language and profanity has been a long time debate of educators causing the novel to be pulled off bookshelves and propelling J.D. Salinger and his protagonist, Holden Caulfield, into reluctant fame. TheRead MoreLanguage Catcher in the Rye4730 Words   |  19 PagesThe American Dialect Society The Language of The Catcher in the Rye Author(s): Donald P. Costello Source: American Speech, Vol. 34, No. 3 (Oct., 1959), pp. 172-181 Published by: Duke University Press Stable URL: http://www.jstor.org/stable/454038 . Accessed: 30/01/2011 11:19 Your use of the JSTOR archive indicates your acceptance of JSTORs Terms and Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp. JSTORs Terms and Conditions of Use provides, in partRead More Oppression and Depression: The Effects of White Masculinity2725 Words   |  11 Pagesattractive, or whether men just prefer these traits in each other and themselves, the standards of beauty are still predetermined on their behalf. A tall, handsome, muscular male is physically and visually considered a man. In the book Catcher in the Rye, J.D. Salinger admires these traits in the character of Stradlater through Holden Caulfield’s perspective. Caulfield is amazed at what a â€Å"very sexy guy† Stradlater is, and how â€Å"handsome† he is. Holden is obviously personally impressed by his

Confucianism Essay - 573 Words

Confucianism Confucianism is a moral and religious system of China. Its origins go back to the Analects, the sayings attributed to Confucius, and to ancient writings, including that of Mencius. Confucius was born a mandarin under the name Kongzi. It was developed around 550 B.C. In its earliest form Confucianism was primarily a system of ethical concepts for the control of society. It saw man as a social creature that is bound to his fellow men by jen, or â€Å"humanity.† Jen is expressed through the five relationships—sovereign and subject, parent and child, elder and younger brother, husband and wife, and friend and friend. Of these, the filial relation is most important. The relationships are said to function smoothly if you stress li,†¦show more content†¦The practice of offering sacrifices and other rituals to Confucius in special shrines began in the 1st century A.D. and continued into the 20th century. Confucianism has often had to contend with other religious systems, mainly Taoism and Buddhism. It has also suffered declines, especially from the 3rd to 7th century. It had a renaissance period in the late T’ang dynasty. It was not until the Sung dynasty and the appearance of neo-Confucianism that Confucianism became the dominant philosophy among educated Chinese. Using Taoist and Buddhist ideas, neo-Confucian thinkers formulated a system of metaphysics, which had not been a part of older Confucianism. They were particularly influenced by Ch’an, or Zen Buddhism. Nevertheless they rejected the Taoist search for immortality and Buddhist ethical universalistic teachings, keeping instead the political and social vision of the early Confucian teachings. In 479 B.C. the government made it part of the civil service examination. The neo-Confucian teachings were unified and established as orthodoxy by Chu Hsi and his system dominated Chinese intellectual life. His metaphysics is based on the concept of li, or principle of form, and the combination of these, called the â€Å"supreme ultimate.† During the Ming dynasty, the idealist school of Wang Yang-ming stressed meditation and knowledge. The overthrow of the monarchy, with whichShow MoreRelatedConfucianism : Taoism, Confucianism, And Confucianism1156 Words   |  5 PagesRaymond Cho EALC 350 October 29, 2014 Professor Birge Which philosophy: Taoism, Confucianism, or Legalism would be best in your opinion for maintaining a peaceful society? Why? Perhaps there is no single philosophy that can create a truly peaceful society. The conundrum of choosing a philosophy to embody a peaceful society is rather complicated, as the ideologies of the philosophies often differ greatly from their real world application. Debates over ideologies can create global scale problemsRead MoreChristianity And Confucianism : Confucianism2203 Words   |  9 PagesChristianity and Confucianism Christianity and Confucianism are important religions today at least according to the Chinese. As a result, the rising influence brought about by Confucianism in China tends to trigger conflicts between the two religions. The Chinese society is greatly influenced by Confucianism, which has a considerable impact on Christianity as a religion in China. The modes of thinking associated with Confucianism are evident in the Chinese Christianity, but Confucianism ideas are deeplyRead MoreConfucianism, Taoism, And Confucianism1277 Words   |  6 Pagesmain philosophies: Confucianism, Taoism, and Legalism. These beliefs helped shape Chinese culture as well as Chinese history. Not only did people believe in these ideas, but the three helped to govern the mighty Chinese dynasties. These dynasties all provided an impact to each doctrine; the philosophy that had the greatest impact was legalism because it ended the Warring States Period, provided structure, and strengthened agriculture, and the military of China. Although Confucianism, Taoism and LegalismRead MoreA Short History Of Confucianism And Confucianism1196 Words   |  5 PagesProfessor Dimick 23 November 2014 A Short History of Confucianism Confucianism is a way of life propagated by the Chinese philosopher Confucius in the 6th–5th century BCE, and it has been followed by the Chinese for more than 2000 years. Although Confucianism as changed over time, at its core, it is still places the same emphasis on the substance of learning, the source of values, and the social code of the Chinese. Additionally, the influence of Confucianism has extended to other countries such as KoreaRead MoreDifferences Between Confucianism And Confucianism1084 Words   |  5 Pagesphilosophies were similar, like their beliefs about man and society; their ideas were a little bit different and each had their own focus. The difference in focus between Confucianism and Taoism is that Confucianism was focused on having a structured society. It held as a principle the brotherhood of humanity. The opinion of Confucianism in humans was that for humans to live in harmony with each other there needed to be a type of hierarchy in place. That†™s why he had the five Confucian relationships inRead MoreEssay on Confucianism1052 Words   |  5 PagesConfucianism What is Confucianism? Confucianism was the single most important thing in Chinese life. It affected everything in China; education, government, and attitudes toward behavior in public and private life. Confucianism is not a religion, but it is more a philosophy and a guide to morality and good government. The Laozian and Mohist critiques of the Confucianism are both in an accurate fashion. Most significant value from Lazi is The Tao Te Jing. It is true that, while ConfucianismRead MoreEssay on Confucianism2000 Words   |  8 PagesConfucianism A philosopher named Confucius founded Confucianism in China 2,500 years ago. Confucianism is a system of ethical behavior and social responsibility that became the great traditions of the East.1 It played an important role in the evolution in Chinese culture over the centuries. It has influenced near-by countries and had made a mark in the history of religion. There are today over six million people who call themselves Confucianists. Most Confucianists live in East Asia whereRead More Confucianism Essay2049 Words   |  9 Pages Confucianism Mencius vs Hsun Tzu nbsp;nbsp;nbsp;nbsp;nbsp;Is man naturally good or is he evil? This question has not only been pondered by countless philosophers, but also by religious leaders around the world. Most often a single religious faith believes in either one or the other, and often these beliefs tend to create a certain world-view which dictates much of the faith. However, in some cases such as the one I will be discussing, two religious dignitaries do not agree and the repercussionsRead MoreContributions Of Confucianism1034 Words   |  5 PagesConfucius was a great Chinese philosopher, but he was also a teacher, editor, and politician. He was born on September 28, 551 BC, and died in 479 BC. He was most well known as Confucius, but his real name is Kong Qiu. After his death, Confucianism became the official imperial philosophy of China. Later after his death, he was regarded as a sage who deserved greater recognition, and his teachings became more popular. He accomplished many great things in his life, and died a successful man. Read MoreIs Confucianism A Religion?1595 Words   |  7 PagesIs Confucianism A Religion? Without a doubt, Confucius is regarded as one of the greatest sages of China history. Some people even refer to him as a deity. There have even been attempts to make Confucianism into a religion. However, present day people regard Confucius as an ethical teacher rather than a man of religious faith, and they refuse to believe that Confucianism is a religion. However, in order to determine whether Confucianism is a religion, the most important Confucian text, The Analects

Internet Effects on Students Essay Sample free essay sample

Since the last 30 old ages. there have been many technological alterations and development. During that period. computing machine and cyberspace are among the fastest developed engineerings. But in that peculiar period. there have been similar mornings. Films. wireless. records. broadcast telecasting. audiotape. videotape. programmed learning machines. etc. These alterations of engineerings have besides affected our larning establishments such as school. college and universities. In fact the impact on the majority of instruction and acquisition has been minimum. The cyberspace connects computing machine webs all over the universe so that users can portion resources and communicate with each other. Some computing machines can entree straight to all the installations on the cyberspace such as the universities. colleges and schools. And other computing machines. for illustration privately-owned or stand alone 1s. are links indirectly through a commercial service supplier. which can give partial or full of the Internet installations. In order to be connected to Internet. you must travel through service providers. There is a batch of options offered with monthly rates footing depending on the option chosen. entree clip may be different. The Internet is what we call a metanetwork. dwelling a web that spans the full Earth. It is difficult to give an exact count of the figure of webs or users that comprise the Internet. but it is easy in the 1000s and 1000000s severally. The Internet have a set of standardised protocols which allow for the sharing of resources among different sorts of computing machines and users that communicate with each other on the web. These criterions. sometimes referred to as the Internet Protocol Suite. are the regulations that developers adhere to when making new maps for the Internet. The Internet is besides what we call a distributed system ; there is no cardinal archives. Technically. no 1 runs the Internet. Rather. the Internet is made up of 1000s of smaller webs. The Internet are develops by many users who finds a new ways to make. show and recover the information that constitutes the Internet. At the beginning. the Internet was originally used by the Department of Defense as a manner to protect authorities communications systems in the event of a military work stoppage. The original web. called ARPANet which has been developed by Advanced Research Projects Agency. evolved into a communications channel among contractors. military forces. and university research workers who were lending to ARPA undertakings. In order to make an effectual manner of communications and informations sharing with each others. the web has been made up with a set of standard protocols. In the 1980’s. ARPAnet spreads popularly and widely among research workers. Because of that. the National Science Foundation ( NSFNet ) has linked several high velocity computing machines and took charge of what had come to be known by all of us as the Internet. Thousands of collaborating webs take part in the Internet during the late 1980’s. In 1991. the U. S. High Performance Computing Act established the NREN ( National Research A ; Education Network ) . NREN’s objectives was to develop and keep high-velocity webs for research and instruction. and to look into commercial utilizations for the Internet. The remainder. as they say. is history in the devising. The Internet has been improved through the developments of several services such as Gopher and the World Wide Web. Internet continues to turn as an informational. originative. and commercial resources every twenty-four hours and in all over the universe even though it is preponderantly thought as a research oriented web. ( American University in Cairo. 2002 ) About more than one tierce of the population in the universe aware of cyberspace. It is likely one of the most buzzed words in the modern epoch. The younger coevals is wholly dependent on the Internet. The present coevals does non necessitate anything else when they have entree to the Internet. Most of pupils now barely consult books to roll up stuffs for their survey. They blindly rely on the Internet to make so. INTERNET BENEFITS FOR STUDENTS Center of informationInternet possibly truly has something of import to offer because people presents are so much into it. Peoples can roll up any kind of information that they want with the aid of the web. Students do non necessitate to travel to libraries any longer to roll up survey stuffs from the books that are kept at that place because they can acquire all of them from e-books. They can acquire the same thing provided in books through the Internet within a fraction of seconds. There are many thi nanograms which are at that place on the web but barely found in the books. Sometimes. there are opportunities that people may run out of information handiness in books. But they can seek for the same without any concerns on the web. There is barely any information which is non available in the web. Options for larning Entree to cyberspace are available to most of schools these yearss. And most instructors prepare their survey stuffs for pupils with the aid of the web. The teaching-learning procedure has become easier and much smooth after the coming of the cyberspace. Even if pupils have any confusion with the instructions of the instructors. they can unclutter it by taking the aid of Internet. There are many medium that they can mention to seek for elucidation on one to pic such as forum. and now. with the growing of societal media. 2. 3Less Cost and Time Consumption The Internet non merely helps the pupils to roll up survey stuffs but helps everybody and anybody who wants to seek for any informations. Today. the web plays an of import function in our day-to-day life. International trades and trades are being done through the Internet comparison to nonprescription dealing in old clip. This will definiately cut the cost and clip when one can online at anytime and anyplace. every bit long as they have internet connexion. In fact. reputed educational establishments conduct on-line tests to acknowledge their pupils. Creates better ocular logical thinkingIn order to acquire through an interview of a company today. one has to hold a good cognition about the web. A recent survey by Johnson ( 2008 ) related with the procedure toward consciousness and cognition of pupils to the frequence of Internet usage. She found that those college pupils who are frequent Internet users demonstrate better ocular logical thinking. These pupil are able to pull strings good of what they have in their head onto the paper. They besides can bring forth more critical thought as their position in visual image are wider. Generate positif attitudes toward computing machinesUsing the cyberspace for learning and learning intents are acquiring increasing attending over the recent old ages. Students that have easy entree to computing machines in networked learning establishment could bring forth positive attitudes toward the usage of computing machines in instruction and acquisition. Computer-enriched acquisition environment are positively correlated with students’ attitudes toward computing machines in general. and the function of computing machines in easing instruction and acquisition. ( Mitra and Steffensmeier. 2000 ) . Liu. Macmillan. and Timmons ( 1998 ) perceived incorporating computing machines into a acquisition system as a complex instructional system in which pupil acquisition is impacted by lectors. pupils. administrative and proficient staff. computing machine hardware and package resources. and besides the computing machine research lab and schoolroom scenes. They reported that pupils with positive attitudes toward utilizing computing machines besides have positive attitudes toward utilizing computing machines for their acquisition. Real experience acquisitionStudents can make existent experiences larning from the cyberspace. The thought that acquisition is a constructive procedure are widely accepted instead than passively receive information. scholars are actively construct cognition. Through these positions. Internet applications provide to use and see the installations of constructivist position ( Plomp. et Al. . 1996 ) . In add-on to this. Internet helps to ease concerted larning environment. Within the group heterogeneousness. positive group mutuality. single answerability and group treating constituents of concerted acquisition. pupils can experience the sense of group kineticss and motive on their acquisition through the cyberspace ( Crane. 2000 ) . Through the constructivist attack. incorporating Internet to the instruction is so easy and effectual. This can further the high degree of the accomplishments for pupils in job resolution and analysing information through the aid of the Internet installations ( Roblyer. 2000 ) . Based on constructivist and pupil centered sense of instruction. pupils should catch the vision and be active in constructing what is needed for alteration and growing on the issue of educational engineering importance and applications. All integrating of these positions should be in the repertory of the pupils to be much better for acquisition. Students must follow that willingness ; consciousness is the first measure in utilizing the technological installations. In order to utilize it efficaciously. fruitfully and expeditiously. there should be right and positive attitudes of the user. DETRIMENTAL EFFECTS OF INTERNETThe cyberspace is regarded as the largest information base and it has play an of import function of our lives. Not merely can we entree a broad sum of informations on the cyberspace but it can besides can be use as a channel of communicating. Thankss to internet. Electronic mails and instant messages have made on-line communicating possible today. Social networking web sites and on-line treatment forums have proved to be popular platforms of look and information sharing. However. there is a monetary value to pay for this easy entree to such sums of information. There are a figure of psychological deductions. with the turning usage of cyberspace by pupils. Some of which include the followers: Limited KnowledgeWith the turning usage of cyberspace for research intents. there is now a diminution in the figure of books used for research. Besides the information available on the cyberspace is limited and largely pertains to the developed states ; a consequence. the cognition obtained is limited. Since information about developing states is scarce. Information that can be gained become general without a valid beginnings from the writer. It is easy to acquire the information but it is barrier to formalize the beginnings. Unlike the information gained from books or hardcopy article where the name of its writer or publication are clearly stated. IsolationDue to passing infinite hours on the cyberspace. pupils now spend a really limited quality clip with their household and existent friends. Therefore. there is a weakening of the household bond and besides limited interaction with existent people. As a consequence. they may lose out on existent life interaction with different relatives’ consequences in deformed societal accomplishments and limited existent life societal web. In extend. this might take to more serious issue which is dysfuntional of the household. Negative Impact of Uncensored MaterialIn today’s twenty-four hours and age it is harder to maintain a cheque on the web sites. a pupil is sing and hence. a batch of pupils are now being exposed to obscene. sexual stuff online such as erotica. Besides since the individuality of an person is concealed online. there are a figure of sexual marauders online. who will take advantage of them. With bulk of pupils owns their ain appliance such as smartphone. laptop and ipad. and they can hold the entree to the cyberspace everyplace. it is become hard for the senior like parents and college governments to command on the web site that the student’s breaker. Exposure to ViolenceWith the turning usage of the cyberspace by pupils. there is an addition in on-line games. These games are really violent and expose them to explicit content and violent state of affairss therefore desensitising the pupil and doing them more prone to bring downing self injury. every bit good as injury on others. As a pupil and adolescents. the curiousity among them are so high. They tend to seek what they saw or experience in practical universe. When an action has been exaggerating. it may caused danger and jokes become serious. 3. 5 Addiction to the InternetStudents besides have an unrealistic feeling of power and control. when utilizing the cyberspace and as a consequence. they become addicted to the cyberspace. They can pass half of their twenty-four hours shoping web site. chew the fating on societal web. updating position. playing games. etc. Internet have become portion of their life with easy entree through their Mobile. Ipad. etc. As the consequence. they will left the everyday with friends and household. They will passing less clip on the healthier activities like athleticss. Information Fatigue SyndromeWith the turning usage of the cyberspace. there is an extra of cognition available online. As a consequence. there is â€Å"too much information† . Information Fatigue Syndrome is when an single becomes extremely stressed through seeking to get by with the immense sums of information. The symptoms of Information Fatigue Syndrome include â€Å"paralysis of analytical capacity† . â€Å"a hyper-aroused psychological condition† . and â€Å"anxiety and self-doubt† . taking to â€Å"foolish decisions† and flawed conclusions† . ( Dr. Ruhi Khalid ) DecisionThe usage of the Internet on school campuses and in society has besides increased dramatically in recent old ages. Whereas the academic usage of the Internet is chiefly intended for acquisition and research. the Internet has besides become an of import portion of pupil life. However. from clip to clip. instances of over engagement with the Internet have been observed on different campuses. For illustration. Chou et Al. ( 1999 ) observed that in one abode hall at their university. four roomies were busy. softly working on their computing machines. They lo gged onto the Internet to chew the fat with other people. whom were no other than their roomies. Some college pupils remain connected to the Internet every bit long as they are awake. Teachers may detect that fewer and fewer pupils are willing to take early forenoon categories. and some of those who do register for forenoon categories on a regular basis come in late. It has besides come to the attending of some school decision makers that some pupils get hapless classs or are placed on academic probation because they spend excessively much clip on the Internet instead than on their surveies. With the recent development of the World Wide Web and the attending given to tomorrow’s high velocity bringing of information and slipperiness broadcast medium. it is easy to overlook one of the most good facets of today’s Internet. It is above all a communicating tool one which allows us as either instructors or pupils to pass on among other pupils. co-workers and specializers from our ain schoolrooms or media centres. Contrary to the frights that many have expressed about the negative effects of such a engineering. The Internet provides an alone chance for instructors of history to expose their pupils non merely to a huge array of informational resources but more significantly to human resources from around the universe. The Internet shows us as much about how people relate to one another as about how they react to engineering. In decision. today’s society is in the center of a technological roar. where most of us are trusting on it in our day-to-day activities. We can either take to take advantage of this epoch. or merely allow it go through them by. The Internet is a really powerful tool. It has many advantages. nevertheless. people need to be highly cognizant and cautious of the disadvantages every bit good. In add-on. parents should non trust on formal instruction to command of the pupils activites. but they have to co-operate with schools or university to do certain that pupils are to the full use the cyberspace maps for good and to avoid from dependence.

EMU Electronics- Report for Emu Firmware manufacturers & suppliers

Question: Describe the Report for Emu Electronics as an Electronics Manufacturer. Answer: Part A Introduction The case is about Emu Electronics which is situated in Box Hill, Victoria. The company was founded more than 50 years ago and it used to repair radio and other household appliances. The company has grown over the years and is a specialty dealer in electronics item. At present the major revenue source of the company is smart phone. The company has designed a new smart phone with all existing features and built in Wifi tethering facility. For the development of this phone the company has invested 750000 in development of the prototype of the new smart phone. Emu has also spent 200000 for marketing study so that they are able to forecast the demand of the new smart phone being launched. The company has also calculated the variable cost and fixed cost that will be incurred in running the operation of the manufacturing facility which will produce the new smart phones. Shelly Chan is the current managing director of the company and she has inherited the company from her father. She wants t o calculate the various parameters involved in capital budgeting of the company so that she can take decision about the project and how to reduce the costs to increase efficiency and profit of the organization. Analysis The Emu electronics wants to calculate the various parameters involved in capital budgeting of the company. Capital budgeting is a technique used by the companies to estimate whether the investments made in the project will be able to provide returns to the investors. It takes into account all the cash flow from the various revenue sources in the future and all possible expenditure to estimate the profit from the investment. The expenditure includes investment in property, equipment, market study and research and development. These are also called capital expenditure. The cash flow from the various revenue sources in the future are discounted using the discount rate to calculate the present value of the earnings in the future. The discount rate of the project depends upon the financial risk involved in the project. The company tries to minimize the financial risk involved in the project by using different ratios of debt and equity while financing the project. The ratio of debt and equity is maintained such that the risk is minimized and overall profit to the company increases. The main objective of any project under taken by a company is to maximize profit for the shareholders. The profit can be maximized by reducing cost or increasing revenue from the project. In this case, the source of revenue is by sales of smart phones and the expenses each year is due to the variable cost involved in manufacturing smart phone and the initial investment is for the purchase of the equipment required for manufacturing the smart phones. Thus in the year 0, the company makes the investment of 34.5 million for the equipment cost. The Research and development cost of 750000 and the marketing cost of 200000 is sunk cost and hence not a part of the capital expenditure. Depreciation is calculated using straight line method for 7 years and the salvage value is 0. However at the end of the 5 years, an amount of 5500000 can be received for the equipment. Thus depreciation = (34.5 0)/ 7 = 4.928 million In the first year, The number of mobile units sold = 64000 Price of the smart phone = 485 Thus revenue earned = Units sold* Unit selling price = 106000* 485 = 31040000 Variable cost per unit = 205 Thus total variable cost = Units sold* Unit variable price = 205* 64000 = 13120000 Fixed cost each year for operation of plant = 5100000 Thus net profit = Revenue variable cost fixed cost = 31040000 13120000 5100000 = 12820000 EBIT = Net profit Depreciation = 12820000 4928571 = 7891429 Tax = 30% of EBIT = 30% * 7891429 = 2367429 Profit before tax = 7891429 2367429 = 5524000 Working capital = 20% of revenue = 20% * 31040000 = 6208000 Change in working capital = working capital (year 1) - working capital (year 0) = 6208000 0 = 6208000 Capital expenditure in year 1 = 0 Free cash flow = Profit before tax + Depreciation Change in working capital capital expenditure Thus in year 1, Free cash flow = 5524000 + 4928571 6208000 0 = 4244571 Discount rate = 12% Present value = Free cash flow/ (1 + r)^n = 4244571/ (1 + 0.12)^1 = 3789796 Similarly, the values for other years are calculated. The table of all the values for the next 5 years is given below. Year 0 1 2 3 4 5 Units sold 64000 106000 87000 78000 54000 Selling Price 485 485 485 485 485 Revenue 31040000 51410000 42195000 37830000 26190000 Variable cost/ unit 205 205 205 205 205 Total Variable cost 13120000 21730000 17835000 15990000 11070000 Fixed cost 5100000 5100000 5100000 5100000 5100000 Net Profit 12820000 24580000 19260000 16740000 10020000 Depreciation 4928571 4928571 4928571 4928571 4928571 EBIT 7891429 19651429 14331429 11811429 5091429 Tax 2367429 5895429 4299429 3543429 1527429 PBT 5524000 13756000 10032000 8268000 3564000 Working Capital 6208000 10282000 8439000 7566000 0 Change in Working capital 6208000 4074000 -1843000 -873000 -7566000 Capital Expenditure 34500000 -5500000 Free cash flow -34500000 4244571 14610571 16803571 14069571 21558571 Present value -34500000 3789796 11647458 11960450 8941467 12232912 Cumulative Present Value -34500000 -30710204 -19062746 -7102296 1839171 14072084 1. The payback period is defined as the amount of time required by the company to recover the investment it has made in the project using the revenue generated from the project. Payback period helps manager to decide whether or not they want to accept the project. A project is accepted by the management if the payback period calculated is less than the targeted payback period i.e. the amount of time required by the company to recover the initial investment is less than the expected amount of time by the management. (Investopedia, Payback Period, 2011) In this case, the initial investment is 34.5 million and the revenue is generated from sales of the smart phones. Payback period = Investment/ Sum of cash flows till break even = 34500000 / (4244571 + 14610571 + 16803571) = 2.90 years A drawback of using Payback period for determining acceptability or rejection of a project is that Payback period does not take into account time value of money and can lead to inaccurate decisions. 2. Profitability index is defined as the ratio of the present value of all the future cash flow and the investment made initially in the project. It is also used to help managers decide whether or not they want to accept the project. A project is accepted by the management if the Profitability index calculated is more than 1 and is rejected if the Profitability index calculated is less than 1. In this case, the Profitability index = Sum of the present value of all the free cash flows / Initial Investment = 47572084/ 34500000 = 1.40 The Profitability index calculated is more than 1. Hence the project can be accepted. 3. Internal rate of return is defined as the discount rate at which the net present value of all the future cash flow for a project becomes zero. It is also used to help managers decide whether or not they want to accept the project. A project is accepted by the management if the Internal rate of return calculated is more than targeted rate of return and is rejected if the Internal rate of return calculated is less than targeted rate of return. (Investopedia, 2013) In this case, Internal rate of return r then NPV = = 0 Thus calculating we get r = 24.6% 4. Net Present Value (NPV) is defined as the net present value of all the future cash flow for a project obtained by discounting all the future cash flow at the discount rate. It is also used to help managers decide whether or not they want to accept the project. A project is accepted by the management if the Net Present Value calculated is more than 0 and is rejected if the Net Present Value calculated is less than 0. (Investopedia, 2011) In this case, NPV = , where F0 is the initial investment = 14072083.64 The advantage of using the Net Present Value is that NPV takes in to account all the future cash flows and time value of money. Also it helps the management understand the amount of money the project is going to generate for them. However the disadvantage of using NPV is that it does not takes into account the initial investment required for the project. It assumes that the company will be able to get funds for starting the project which is not always feasible. Also NPV is affected highly by the future cash flows, tax rate, etc. which makes it fluctuate too much due to small changes in the variables. 5. To test the sensitivity of the NPV to the changes in selling price, we had two approaches: optimistic where we increased the selling price by 5% and pessimistic where we decreased the selling price by 5%. When the selling price is increased by 5%, the new selling price = 485 * 1.05 = 509.25 Thus calculating the NPV, we get, NPV (optimistic) = 18757736 When the selling price is decreased by 5%, the new selling price = 485* 0.95 = 460.75 Thus calculating the NPV, we get, NPV (pessimistic) = 9386431 (Investopedia, 2011) 6. To test the sensitivity of the NPV to the changes in quantity, we had two approaches: optimistic where we increased the quantity by 5% and pessimistic where we decreased the quantity by 5%. When the quantity is increased by 5%, the quantity for 1st year = 64000* 1.05 = 67200 Similarly for other years quantity is calculated. Thus calculating the NPV, we get, NPV (optimistic) = 167217102 When the quantity is decreased by 5%, the new quantity for 1st year = 64000* 0.95 = 60800 Thus calculating the NPV, we get, NPV (pessimistic) = 11422565 Thus it can be seen that NPV is more sensitive to the changes in the selling price and less sensitive to the quantity. 7. Yes, Emu Electronics should go ahead with the production of the smart phones. It can be seen from the calculation that the NPV is positive for the project and IRR of the project is more than the rate of return of the company. The only constraint the company has is it requires 34.5 million to start the project. If it is able to arrange the investment using equity or debt without any change in the rate of return then it should go ahead with the production of the smart phones. (Goedhart, 2015) 8. If the sale of new smart phone reduces the sale of other phones, it is loss in revenue for the company as the new product is cannibalizing its own products. Thus to account for this change in revenue, the company must reduce the revenues earned by the sales of new product by the amount of money lost due to loss in sales of old phones. Thus the net present value, internal rate of return and payback period will change and there is a possibility that the project might become unfeasible if the loss in sales is too high. Thus it can have serious impact on the final decision of the project Part B Introduction Hubbard Limited Company was founded by Bob and is family owned business. Its sell computer products and other accessories. The company wants to calculate WACC to understand the cost associated with the business. The company has chosen Harvey Norman as a representative company which is a listed company so that it can determine the cost of debt and equity of the company. 1. From the annual report of Harvey Norman Holdings for the year 2105, the long tern debt value and total assets value has been calculated. Long term debt excluding the current liabilities = 290000000 Total assets owned by the company = 4430000000, total liabilities of the company = 1740000000 We know, Total Assets = Total liabilities + Equity Thus the equity of the company = Total Assets - Total liabilities = 4430000000 1740000000 = 2690000000 2. The stock price of the share for Harvey Norman, HVN = 5.19 The market value of the equity = 5.77 billion No. of outstanding shares = 1113 million Annual dividend paid most recently = 0.17 per share Beta value = 0.75 Yield on government debt = 2.45% for a 3 month bond Market risk premium for Harvey Norman = 5% We know using the Capital Asset Pricing model, Cost of Equity = Rf + (Rm Rf)* Beta = 2.45% + (5 * 0.75) = 6.20% The dividend discount model is not applicable in this case as the dividend paid by the company is not set. 3. From the annual report, Interest expense = 32080000 The book value of the long term debt = 290000000 Cost of debt = Interest expense/ book value of the long term debt = 32080000/ 290000000 = 11.06% As the data regarding the market value of debt is unavailable, we assume the market value of debt is same as the book value of debt (Mitra, 2011) 4. From the book value, we have Total value of the company = Book value of equity + Book value of long term debt = 2690000000 + 290000000 = 2980000000 Thus Weighted average cost of capital = Equity book value/ Total book value * Cost of equity + Debt book value/ Total book value * Cost of debt * (1- rate of tax) = 6.35 % Again using the market values of debt and equity instead of book value, we get WACC = 6.27% The cost of capital calculated at market value is more relevant as it gives idea about the prices at which the company can sell. (Patient Value, 2013) 5. The most important difference between the Harvey Norman and Hubbard Computer Limited Company is the size of the company in terms of revenues and market capitalization. It is not correct to use Harvey Norman as a representative of Hubbard Computer Limited Company as there is a difference in ownership of the two companies, the risk associated with each of them and amount of reserves. The market capitalization of Harvey Norman is more than 5 billion dollars whereas the sales of Hubbard Computer Limited is only 9.7 million. This huge difference in revenue makes it difficult for them to be considered as representable. Also the risk associated with a company with large reserves is less than the risk associated with the smaller reserves as the larger company can easily get access to funds and at a lower rate. The same is not the case with Hubbard Computer Limited. Apart from the major financial differences, the portfolio of the HCL is different from the Harvey Norman. Harvey Norman has a larger variety of electronic goods in its product portfolio whereas HCL has only computer and its accessories. This again diversifies the risk of Harvey. The customers get wider range at Harvey Norman and it is easier for them to convert customers and build trust than HCL. Thus it is not correct to use Harvey Norman. (Winkle, 2011) Conclusion Thus the assignment helps in understand the various topics in capital budgeting. In the first part, the various parameters used by the management for deciding whether or not they want to accept the project. It was found that the NPV of the project is positive and IRR of the project is more than the rate of return of the company. Thus if the company is able to arrange the investment using equity or debt without any change in the rate of return then it should go ahead with the production of the smart phones. In the second part, the method to calculate WACC was explained and the issues in using another company as a representative company were discussed. References Investopedia, 2011, Payback Period, viewed September 26, 2016 https://www.investopedia.com/terms/p/paybackperiod.asp Gallo, A., 2016, A Refresher on Internal Rate of Return, Harvard Business Review, viewed September 26, 2016 https://www.thebalance.com/net-present-value-npv-as-a-capital-budgeting-method-392915 Mitra, S., 2011. Revisiting WACC. Global Journals, viewed September 26, 2016 https://globaljournals.org/GJMBR_Volume11/8.Revisiting-WACC.pdf Goedhart, M., 2015, A better way to understand internal rate of return, Mckinsey, viewed September 26, 2016 https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/internal-rate-of-return-a-cautionary-tale Patient Value, 2013. WACC Is Flawed, Use Warren Buffett's Approach Instead, viewed September 26, 2016 https://seekingalpha.com/article/1641702-wacc-is-flawed-use-warren-buffetts-approach-instead Investopedia, 2011, Net Present Value - NPV, viewed September 26, 2016 https://www.investopedia.com/terms/n/npv.asp Investopedia, 2013, Internal Rate of Return, viewed September 26, 2016 https://www.investopedia.com/terms/i/irr.asp Winkle, L., 2011. Harvey Norman shares: Should you really buy them?. Financial Review. viewed September 26, 2016 https://www.bofaml.com/content/dam/boamlimages/documents/articles/D3_014/bro-04-15-1256_f_singlepages.pdf

Socialized Medicine Essays (1775 words) - Health Economics

Socialized Medicine Socialized medicine is a service owned by all citizens and is present in many countries. How does it work and what does it do for a nations economy? One of the biggest fears most people have is becoming sick or injured, and the problem for them is paying for it. Under socialized medicine people would receive health care, regardless of their ability to pay. Everyone would be taken care of without worry of how they would pay for their care. The World Health Organization, part of the United Nations, says that, "health care is a fundamental human right." The benefit of national health care would be potential for people to live longer lives. Costs would be driven down because doctors, nurses, and other health care providers would become civil servants. "Another benefit would be that malpractice suits would decline, because it is very difficult to take legal action against the government" (Carol 1994). Economics is the biggest factor in whether socialized medicine is good or bad for a nation's economy. The United States, to a point, has socialized medicine with Medicare, Medicaid, Veterans Administration Federal medicine, and health departments. The National Center for Public Policy Research said that, "In 1990 the government shared 42 percent of the health and gained over 50 percent of health care in 1992 as expenses begin to rise." In 1993 health care expenditures consumed 13.9 percent of the Gross Domestic Product and 15.6 percent in 1995 according to the Heritage Foundation. "Typically, people mistakenly blame rising costs on drug manufacturers, insurance companies, physicians, and hospitals. But the rapid growth in medical expenses is rising due to the rise in medical services needed" (Oatman 11-34). As the government attempts to establish health care, hospitals are being overburdened with minor and unnecessary uses of health care services. These have caused emergency rooms to be filled with treating common colds, headaches, and minor scrapes. Medicare is said to be useless by the year 2002, just 8 years before 77 million baby boomers begin to retire. "The only way that the country could continue is to raise taxes severely" (Oatman 40). The supporters of national health care are Canada, Great Britain, France and Germany. All are suffering from severe budget and service problems. They are all losing their best and brightest doctors to the free market systems of the United States. These health care systems have a two-class system. The rich in these systems use private hospitals with private insurance to receive the levels of health care that the average American receives (Peikoff 1994). In Canada, the national health care system is facing many problems. Many hospitals have been closed to cut costs, and proof of this is shown in the amount of Canadian health care workers in the United States. Robert Bourassa, former Premier of Quebec, after discovering that he had melanoma, flew to Washington D.C. for further consultation at the National Cancer Institute. Former Cabinet Minister, John Moore, in charge of British National Health Service, checked himself into a private hospital for treatment of pneumonia. "The British Royal Family has such faith in their health care system, that they are all treated in private hospitals. Socialized medicine is such a failure, even government officials admit to it by their actions" (Mc Cuen, 1988). When health care starts being a right, the medical profession will not be as wealthy, and the quality of medical care will be decreased. Under the traditional American health care system a person has the right to health care if one can afford it, if you earn it by your own actions and efforts. But no one has the right, just because they want or need it. Pierre says that one is born with a moral right to hair care and the government should provide that free of charge. As a result, people show up everyday for an expensive new styling, the government pays out more and more, and barbers love their new huge incomes. Would you even think that a hairstylist could possibly even come close to making as much money as a doctor or nurse? These are not quite the actual standings but close enough for concern. There are also free hair implants, eyebrow plucks, breast implants, nose

English 101 Review: Semester Essay Topics

English 101 Review: Semester Essay TopicsHaving finished your English 101 final essay, you should probably write on the topics you have been required to cover. The points covered in this particular essay range from how to write a paper to the correct etiquette that is expected of you as a student in college. If you are looking for a way to improve your grades, then you may want to review these points. I hope that by using these tips you will be able to make sure that you do not get your grade lowered.The first topic is on the paper itself. Most courses require a certain number of topics and this is the one you need to learn. These topics can include any subject that will be taught in class and most likely will be something that you have already studied for an exam.The next important fact is on the rules and regulations that the course has. You will be expected to read the rules and make sure that you understand them. There are also different regulations that are taught in school, so you should always take note of these when you go to class. If you find yourself getting caught up in the rules and regulations, then you will want to remember that it is okay to read the material on your own time but if you must be taught, then try to set aside some time to study before class so that you will be better prepared for the exam.The third topic is about the final question and answer period. During this part of the exam, you will be forced to think about a lot of different subjects that pertain to the subject matter of the course. If you have studied before, then you will be able to try to find some creative ways to answer the questions as well as determine what the other students have to say.The fourth topic is on the committee in the class. Many times in college, a student will come in and want to be considered for a certain position. If you see this happening to you, then you may want to review the curriculum and see if you may be allowed to do something else after all .The fifth topic is on how the student and the professor may work together. If you find that you do not get along with your professor, then you may want to consider trying to get him or her to consider you for a position. After all, your instructor may just be trying to keep you in the class, so you might want to let them know how you feel about it.The sixth and final discussion topics are on the subject and importance of student ethics. Students have to follow the rules in class and they are expected to try to be ethical at all times. This is also something that you should make sure that you read and try to keep in mind as you study and get into the thoughts of different students during class.Essays are important for many reasons. Learning about the different topics can be beneficial to those who are studying the course. By reviewing the topic in English 101, you will be able to better understand the rules and regulations, the committee in class, the professor and how the course wo rks.

Whos for the game and Dulce et Decorum Est Essays

Whos for the game and Dulce et Decorum Est Essays Whos for the game and Dulce et Decorum Est Paper Whos for the game and Dulce et Decorum Est Paper Essay Topic: Jessie Pope War Poetry Literature Whos for the game? is a recruitment poem that was written by Jessie Pope to persuade men to enlist for the First World War. She composed crude war verses for the Daily Mail, and was particularly detested by wartime poet, Wilfred Owen. In one of his poems, Dulce et Decorum Est, Owen uses direct address to poets like Jessie Pope, and for this reason I am going to compare and contrast these two very different styles of poetry by two very diverse authors. Whos for the game? was written at the beginning of the war and consequently was written in Georgian style, as was a lot of the poetry of that era. The poem consists of four, four-line stanzas with a,b rhyming scheme, which gives the poem added rhythm. This sing-song approach ties in with the ideas the poem holds, about war being a game and a show. These similes were commonly used in wartime propaganda as a way of encouraging men to sign up, to make war seem almost appealing. The last line of each stanza is almost mocking Pope being not able to believe that men could be so cowardly. Historically, during this period of time women were very involved in convincing men to join the army. For example, women would present men with a white feather, as a symbol of their cowardice. Women like this, women like Jessie Pope inflamed not only Wilfred Owen, but other war poets as well, and therefore the style of Dulce et Decorum Est. differs vastly. Wilfred Owens poem was written after poetry dramatically changed in style, as a side effect of the war. Poems before this change seemed derisory in comparison to the war poetry that told of the horror and the huge scale of sacrifice, instead of the glory and honour in dying for ones country. Wilfred Owens poem consists of three stanzas, with an alternating rhyming scheme, which shows the regularity of death during war. Although Owen does specifically write about one man he saw drowning in the sea of gas, Owen does not glorify death, because thousands of others died. Owen does not name this man, and this anonymity does not glorify war, this man could be one of several thousand who died this way. In comparison to Jessie Popes poem, there is no rhythm, no song in Owens writing. Owens poem is full of stumbling, fumbling, tired, hopeless, dying men. He is writing about a ghastly scene of war and of a man drowning in poisonous gas. If there is music in Owens poem, it is a dirge for the dying. In Dulce Et Decorum Est, Wilfred Owen reacts to the war by turning conventional poetic technique into something that appears to be normal on the surface but in reality is tainted and corrupted. Owens break from the conventional poetic form serves to symbolize the breakdown of societys value system a system that had been trusted for many years. Owen also breaks from the pretty language prevalent in the poetry of his day to show his society the awful images of real and not romantically heroic war. Finally, Owen juxtaposes the idea of war as devastating and the idea of war as heroic to illustrate the poems ultimate irony Dulce Et Decorum Est, Pro Patria Mori In Whos for the game Jessie Pope writes in a conversational manner, to spread her jingoistic attitude to anyone and everyone. Her use of simple, colloquial language makes this poem easy for everyone to read and therefore appeals to all of the different social classes of that day and age. The poets patriotism shines through in every line of the poem, and the use of slang influences many people. The use of this universal and familiar language was essential for this propaganda to be successful. The animated language and enthusiastic tone, for example wholl toe the line for the signal to Go! is almost uplifting and spurs the reader on, giving the reader some of the energy that the poet obviously had when she wrote the poem. Dulce et Decorum Est, differs from this because it almost drains the energy and life from the reader. Owen uses more formal, metaphorical and complex language and paints a very vivid, horrific picture of a man dying. The candid, frank vocabulary Owen uses shows just how honest his account of war is. He uses phrases like ecstasy of fumbling, and this emotive expression stirs feelings inside the reader, we can really picture these weary soldiers suddenly having to grope for their gas marks. Within her poem, Pope uses many questions, which involve the reader more, and, together with the use of everyday language give the poem a less formal feel. She persuades the men to join the army by making them feel deceitful and cowardly if they were to lie low. She also has a friendly manner in her propaganda poem as she refers to the men as lads. The first three lines in each four-line stanza are all about the heroism and eagerness that each man should feel, while the last line is a cutting remark about the cowardice of men who would not sign up. Pope has written this poem in four quatrains with a regular rhythm and rhyme scheme, which makes the poem more memorable. This is also a technique employed in childrens poetry and as such trivialises her subject matter. Only the last stanza is different, instead of questions to her readers, Jessie Pope summarizes her ideas and makes the poem appeal to men as individuals, in the final line .. shes looking and calling for you. The biggest writing technique that Jessie Pope uses is in her metaphorical language, comparing war to a game, the biggest thats played. This disillusioned idea exhibits the attitude towards war that woman and children had, back at home in England. Pope continually uses comparisons throughout the four stanzas of the poem, and some onomatopoeia in crashing and grip. She utilizes only these very simple poetic techniques because her poetry was written when poems were not so adventurous, they simply got their message across. However, Owens poem is not like this at all, he uses a variety of poetic techniques to convey his shocking imagery. The use of similes, like a devil sick of sin, and metaphors, obscene as cancer, are all very descriptive and deplorable remarks, which shock the reader into realising the unpleasantness that soldiers were facing. Owen also uses onomatopoeia, but to a much greater effect than Jessie Pope for example gargling, and choking. Owen writes in a more formal tone than Jessie Pope, and in comparison to Whos for the game, Wilfred Owen uses imagery to a great extent. There are four main image groups that run all the way through the poem. The first is that of sleep or dreams Owen himself suffered from unspeakable nightmares as a symptom of shell shock, and this was reflected in his poetry. Illustration of this imagery are found in words like haunting, fatigue and smothering dreams. The next image group is that of drowning and helplessness; floundering, guttering, choking. On top of this, Owen uses imagery of un-coordination, which is really what gives the poem its almost twisted feel bent double, knock-kneed, and writhing. The final image group that Owen uses is senses, allowing the reader to feel, see, and hear what is going on. Owen writes all went lame; all went blind; deaf even to the hoots. Wilfred Owen also shows us a small group of images, which are just ghastly pictures of war and occur largely in the last stanza. In any case, all of the specific image groups work together and throughout the poem to show us a vivid picture of war. These images are utilized by Owen to show the ultimate irony and the moral of the poem; it is not in fact a sweet and meet fate to die for ones country even though current writers of his day, like Jessie Pope were publicising it as something heroic. This irony is illustrated in a clever juxtaposition at the end of the poem. The men who enlist are innocent, they are children who have learned that war is full of high zest and this makes them ardent for some desperate glory. Innocent people are willing to believe the lie but they will, of course, learn differently once they experience the war first hand, and this is why Owen was so bitter towards Jessie Pope and other such war poets, because they had helped to convince men to effectively sign their own death warrants. Wilfred Owen makes an immediate separation between the dying soldier and himself. This is shown metaphorically. Owen refers to the sea metaphorically showing the strength of the ocean or in this case, the gas. He infers that you are powerless against the gas. This is shown by as under a green sea I see him drowning. This stanza is showing the ease of death on the front. One shell of gas can kill a person in an instant and that soldier is powerless against it. The third stanza is very powerful and in it Wilfred Owen says he will never forget that moment and that the man can never be replaced. However the army generals use the men as pieces in a game, to them the soldiers are just cannon fodder, but in reality they are dealing with somebodys life. This is why Wilfred Owen dislikes Jessie Pope. In the final paragraph, Wilfred Owen takes an immediate shot at Jessie Pope by saying you too could pace and if you could hear. It is trying to say that they should not be able to write about the war when they do not have a clue about the consequences of her poetry. Sarcastically Owen calls the pro-war poet my friend; this implies a fellow poet, Jessie Pope, rather than an actual friend. Being referred to as friend will not offend the pro-war poet yet it shows their responsibility to tell the truth and their adverse effect on the youth. Jessie Popes poem Whos for the game? is a prime example of the persuasive propaganda written to encourage men to go to war. However poetically it is a very simple verse, and, to me, reflecting back on the tragedies that happened, it is almost nauseating to think that Jessie Pope was responsible for persuading men to go to war. In contrast, Wilfred Owens Dulce et Decorum Est, is a startling first-hand account of a personal experience, and yet is impersonal, this man dying could have been anyone of the men who died during the war. For this reason I would conclude that in my opinion, Wilfred Owens poem is vastly superior to Who for the game?