Developing Financial Projections

PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service Developing Financial Projections PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service

Deception Point Page 100

I tried to help him, Pickering told himself, recalling all the damaging evidence he had sent Marjorie Tench. Unfortunately, Herney had forbidden its use, leaving Pickering no choice but to take drastic measures. â€Å"Rachel,† Pickering said, â€Å"the information you just faxed off this ship is dangerous. You must understand that. If it gets out, the White House and NASA will look complicit. The backlash against the President and NASA will be enormous. The President and NASA know nothing, Rachel. They are innocent. They believe the meteorite is authentic.† Pickering had not even tried to bring Herney or Ekstrom into the fold because both were far too idealistic to have agreed to any deceit, regardless of its potential to save the presidency or space agency. Administrator Ekstrom's only crime had been persuading the PODS mission supervisor to lie about the anomaly software, a move Ekstrom no doubt regretted the moment he realized how scrutinized this particular meteorite would become. Marjorie Tench, frustrated by Herney's insistence on fighting a clean campaign, conspired with Ekstrom on the PODS lie, hoping a small PODS success might help the President fend off the rising Sexton tide. If Tench had used the photos and bribery data I gave her, none of this would have happened! Tench's murder, though deeply regrettable, had been destined as soon as Rachel called Tench and made accusations of fraud. Pickering knew Tench would investigate ruthlessly until she got to the bottom of Rachel's motives for the outrageous claims, and this was one investigation Pickering obviously could never let happen. Ironically, Tench would serve her president best in death, her violent end helping cement a sympathy vote for the White House as well as cast vague suspicions of foul play on a desperate Sexton campaign which had been so publicly humiliated by Marjorie Tench on CNN. Rachel stood her ground, glaring at her boss. â€Å"Understand,† Pickering said, â€Å"if news of this meteorite fraud gets out, you will destroy an innocent president and an innocent space agency. You will also put a very dangerous man in the Oval Office. I need to know where you faxed the data.† As he spoke those words, a strange look came across Rachel's face. It was the pained expression of horror of someone who had just realized they may have made a grave mistake. Having circled the bow and come back down the port side, Delta-One now stood in the hydrolab from which he had seen Rachel emerge as the chopper had flown in. A computer in the lab displayed an unsettling image-a polychromatic rendering of the pulsating, deepwater vortex that was apparently hovering over the ocean floor somewhere beneath the Goya. Another reason to get the hell out of here, he thought, moving now toward his target. The fax machine was on a counter on the far side of the wall. The tray was filled with a stack of papers, exactly as Pickering had guessed it would be. Delta-One picked up the stack. A note from Rachel was on top. Only two lines. He read it. To the point, he thought. As he flipped through the pages, he was both amazed and dismayed by the extent to which Tolland and Rachel had uncovered the meteorite deception. Whoever saw these printouts would have no doubt what they meant. Fortunately, Delta-One would not even need to hit â€Å"redial† to find out where the printouts had gone. The last fax number was still displayed in the LCD window. A Washington, D.C., prefix. He carefully copied the fax number down, grabbed all the papers, and exited the lab. Tolland's hands felt sweaty on the machine gun as he gripped it, aiming the muzzle at William Pickering's chest. The NRO director was still pressuring Rachel to tell him where the data had been sent, and Tolland was starting to get the uneasy feeling that Pickering was simply trying to buy time. For what? â€Å"The White House and NASA are innocent,† Pickering repeated. â€Å"Work with me. Don't let my mistakes destroy what little credibility NASA has left. NASA will look guilty if this gets out. You and I can come to an arrangement. The country needs this meteorite. Tell me where you faxed the data before it's too late.† â€Å"So you can kill someone else?† Rachel said. â€Å"You make me sick.† Tolland was amazed with Rachel's fortitude. She despised her father, but she clearly had no intention of putting the senator in any danger whatsoever. Unfortunately, Rachel's plan to fax her father for help had backfired. Even if the senator came into his office, saw the fax, and called the President with news of the meteorite fraud and told him to call off the attack, nobody at the White House would have any idea what Sexton was talking about, or even where they were. â€Å"I will only say this one more time,† Pickering said, fixing Rachel with a menacing glare. â€Å"This situation is too complex for you to fully understand. You've made an enormous mistake by sending that data off this ship. You've put your country at risk.† William Pickering was indeed buying time, Tolland now realized. And the reason was striding calmly toward them up the starboard side of the boat. Tolland felt a flash of fear when he saw the soldier sauntering toward them carrying a stack of papers and a machine gun. Tolland reacted with a decisiveness that shocked even himself. Gripping the machine gun, he wheeled, aimed at the soldier, and pulled the trigger. The gun made an innocuous click. â€Å"I found the fax number,† the soldier said, handing Pickering a slip of paper. â€Å"And Mr. Tolland is out of ammunition.† 124 Sedgewick Sexton stormed up the hallway of the Philip A. Hart Senate Office Building. He had no idea how Gabrielle had done it, but she had obviously gotten into his office. While they were speaking on the phone, Sexton had clearly heard the distinctive triple-click of his Jourdain clock in the background. All he could imagine was that Gabrielle's eavesdropping on the SFF meeting had undermined her trust in him and she had gone digging for evidence. How the hell did she get into my office! Sexton was glad he'd changed his computer password. When he arrived at his private office, Sexton typed in his code to deactivate the alarm. Then he fumbled for his keys, unlocked the heavy doors, threw them open, and burst in, intent on catching Gabrielle in the act. But the office was empty and dark, lit only by the glow of his computer screensaver. He turned on the lights, his eyes scanning. Everything looked in place. Dead silence except for the triple-tick of his clock. Where the hell is she? He heard something rustle in his private bathroom and raced over, turning on the light. The bathroom was empty. He looked behind the door. Nothing. Puzzled, Sexton eyed himself in the mirror, wondering if he'd had too much to drink tonight. I heard something. Feeling disoriented and confused, he walked back into his office. â€Å"Gabrielle?† he called out. He went down the hall to her office. She wasn't there. Her office was dark. A toilet flushed in the ladies' room, and Sexton spun, striding now back in the direction of the restrooms. He arrived just as Gabrielle was exiting, drying her hands. She jumped when she saw him. â€Å"My God! You scared me!† she said, looking genuinely frightened. â€Å"What are you doing here?† â€Å"You said you were getting NASA documents from your office,† he declared, eyeing her empty hands. â€Å"Where are they?† â€Å"I couldn't find them. I looked everywhere. That's what took so long.† He stared directly into her eyes. â€Å"Were you in my office?† I owe my life to his fax machine, Gabrielle thought. Only minutes ago she'd been sitting at Sexton's computer, trying to make printouts of the images of illegal checks on his computer. The files were protected somehow, and she was going to need more time to figure out how to print them. She would probably still be trying right now if Sexton's fax machine had not rung, startling her and snapping her back to reality. Gabrielle took it as her cue to get out. Without taking time to see what the incoming fax was, she logged off Sexton's computer, tidied up, and headed out the way she had come. She was just climbing out of Sexton's bathroom when she heard him coming in.

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Globalisation - Essay Example The reason for this is based on the tremendous amount of positives that come hand in hand with the facets of globalization. Hence in order to fully understand the intricate details related with globalization, one must base a sound belief on the strengths related with production and marketing. Once again, it is important to touch upon the exact definition of globalization before moving ahead any further (Hersh 2000). I define globalization as â€Å"the cumulative basis of strengths, transferred from one world region to another, in a capacity that derives opportunities for all the major and minor stakeholders, time and time again.† When one tries to establish the exact basis of production and marketing globalization, the four significant drivers need to be understood in a proper fashion, as these form the core essence of globalization in the first place. These four drivers are the use of Information Technology, the Just in Time and Total Quality Management business processes to speed up work activities, the Sales Force Automation quarters, and lastly the Outsourcing mechanisms which have had a huge say in building growth and development within the globalization auspices on a proactively consistent basis. The four drivers have played their essential roles within the acceleration processes of globalization in the last decade or so. This has happened with the influx of resources and budget more importantly. This has also happened because the top management domains within the organizations that have chosen globalization for their own selves, have understood that globalization indeed is a force to reckon with (Tayl or 2002). They have accepted the challenges thrown their way and have clearly realized the potential of globalization within the broader contexts. These four drivers are essentially the instigating mechanisms of change within the modern day organizations. Their roles have had a huge say in outlining the proper structure of the

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Classical mythology - Essay Example However, when Greek myths [stories] are mentioned, most Christians and other contemporary religions shun them as mere fantasy, or fictional stories that never existed but were rather coined from human imagination. This and other disagreeing points exist when Greek mythology is being compared to other systems. However, the similarities are evident in some cases too. This paper will conduct a comparative research on Greek mythology and Christianity (as a non-Greek system), and in the comparison highlight significant emergent similarities and differences. Religion is the comparable element between Greek mythology and Christianity. Multiple differences and similarities are evident here. One similarity is that in Christianity and in the Greek system, there was a supreme being. In ancient Greek, there was Zeus, who was the god above all gods, and the Supreme Being that ruled over fate, order, law, the weather, and the sky. Although defined in terms of humanistic features such as being a sturdy man with a dark beard and one who depicted maturity, he held supernatural powers. He was attributed to the eagle, royal scepter, and a lightning bolt. Additionally, there were other gods under Zeus, such as the god of war, the god of fertility, and the god of love1. Similarly, the Christians have a Supreme Being, their God, who is the creator of mankind and rules over all creation. He is referred to as Yahweh, Jehovah, or simply â€Å"God†. The Christian God is referred to as â€Å"He† and is also attributed human features such as the famous Christian principle that says humans were made in God’s image2. Unlike Zeus, however, he has no specific attributes such as a beard, since He is spiritual and not visible to human eyes. Christians do not have lesser gods like the Greek in that Yahweh is the one and only God recognized by the religion. However, there is the definition

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The Development Of Fashion In Indian History Essay Example for Free

The Development Of Fashion In Indian History Essay Fashion has been referred by many as a consciousness of the mind. In most cases, when the term fashion is mentioned, what comes to the mind is the notion of a cloth style but the truth is that the concept entails a wide range of things be it footwear, accessories, headgear or even hairstyles. It is what one thinks it is beautiful that makes one comfortable and thus it could be said to be relative as it is not universal. It may mean simplicity to one person while to another person it would mean modernity and glamour. Fashion was simply a western phenomenon originally meant for the elite class but was later exposed to other people due to globalization. Fashion like fads come and go or in other words, they exist for sometime and are replaced by others and this is something that is evident when the track record for the Indian fashion is traced back from the early 20th century up to the turn of the century.   This research paper is going to specifically focus on Indian fashion and will trace its development track and discuss in depth about the changes that occurred in every stage and give the factors that motivated that change. This paper starts by giving a short but concise introduction about fashions and then continues to discuss about the historical development of Indian fashion in its main body and concludes by recapping the most important points that have been raised. Fashion in India started being taken seriously when the nation opened up to the western world’s ideologies which with them, different cultures and dressing styles were born but there was need to safeguard and protect the national values and cultures. For this reason, the Indians developed their own traditional styles and decided to hold on to them lest their cultures and values be swept away by the western fashion’s wave. Indian fashions evolved due to regionalism, climatic conditions and due to necessity and thus were more of a cultural, religious and tribal identity[1]. Indeed a lot of fashion metamorphosis could be said to have taken place as far as Indian fashion is concerned like from the 1920’s flapper girls who were oblivious of the conventional mode of dressing and looked it with contempt to the 21st century’s elegant fashions. The 1920s period was commonly referred to as the ‘roaring twenties’ and was reflective of Charleston era. In the 1920s, change in fashion in India was basically influenced by social movements advocating for equal treatment of women and in this respect, business like dressing codes were adopted something that greatly attracted women. Though this was the case, the 1920s period was unstable period to the Indians as it was the time the western influence was at its fullest and thus anything considered Indian was of lower status that the western one and thus Indian fashions had borrowed much from the western world. In short, the 20s fashion was associated with wealth and thus was a thing of the rich as the poor went for the hand stitched or the hand made clothes however, due to their high demand those tailors became entrepreneurs and kept boutiques thereby making a fortune. People would prefer western fashions to theirs for example the Charleston dresses which had long laced sleeves either made of silk, satin or cotton. The 1920s period being influenced by equality movements, a class of women who were business-like emerged and preferred clothes which were either grey or black in color and made of [2]either georgettes or silk. â€Å"In India, the fashion scenario was in confusion as it was an unstable period. Thus fashion trends were strongly influenced by the British, with the result that western clothes became a status symbol†[3]. As each decade had something new, the 1930s period show the reduction of western influence in fashion and witnessed the rise of communism, fascism and socialism something that led to the women’s fashions becoming more and more feminine while strongly holding on to their conservative ideas[4]. During this period, the 1920s clothes such as angarkhas, jamas and chogas lost taste and there place was taken by achkan, sherwani and chapkan. According to researches that have been done, these clothes are still fashionable today and in fact are the standard mode of dressing for men. At this time the emergence of Indian cinemas played an important role in the emergence of the 1930s fashion. Clothes that exaggerated body figures would be worn something that went in line with cabaret and vamp culture. Though western influence was greatly waning over this period, the Indian women would still be seen wearing western clothes such as the ghagras, kurtas, odhnis and peshwaz during ceremonial functions and religious festivities but would make sure that though clothes would be mostly western they would wear clothes that were hand-woven and most of the clothes that were worn at this time were dark colored[5]. The 1940s decade did not see much of fashion change as there were a lot of things that were happening in the world for example the Second World War and the Indian Independence movement and thus most of the clothes that were worn by women were generally functional. However, there were some small changes which were happening in terms of fashion that are worth noting for example, clothes with pinched waist and hips and then matched with a short fluted jacket could be worn by Indians[6]. Also this historical period brought with it some revolutionary changes in the Indian fashion as Japanese imported fashions such as georgette, silk and   chiffon which prior to 1940s were very much in use were replaced by South Indian hand woven silks. By gaining independence, Indians felt tired of mimicking western fashions and thus concentrated and cherished theirs something that characterized the 1050s period. Much of the attention focused on the Indian blouse which shortened than it was prior to this period. This blouse came to be known as choli and the style came to be reffred to as katori which replaced the western one. The mentality that western clothes were long lasting and that would even last longer if repaired, vanished and henceforth, those clothes would be given to charity homes or be put into dustbins. Also something else characteristic of this period was the silhouette balloon skirts with narrow waist[7]. The 1960s represents a very important period in the evolution of Indian fashion. It witnessed various inventions and particularly the production of synthetics for example; brass, silver and mud were replaced by plastic and silk and cotton was replaced by polyester and nylon fabrics â€Å"New types of materials such as plastic film and coated polyester fabrics became popular. Tight kurtas with churidars and miniskirts became fashionable. The era also ushered in the age of synthetics†[8]. This period represented not only a battle between modernity and traditions but also a battle between values and lifestyles. Though nylon had replaced saris, it came back in 1964 both with a new look and wearing style for example, it would be worn below the navel in a manner that would exaggerate the curves. Also in this period, the place of salwars was taken by nylon pants. The clothes that came to be referred to as Kumar’s forte emerged at this period and were as a result of the embracement of Indian clothing styles by other nations in the world[9]. Kumar was able to put the word fashion in an Indian context something that made him to popular nationwide. The 1970s period in Indian fashion is commonly referred to as the me decade’ and was also a period that was referred to as anything goes culture. At this period, India started to produce materials in plenty with some used locally while others exported to other nations something that made its fashion to be popular worldwide[10]. In 1980s, the American fashion were selling internationally and were able to penetrate in India and some American designers such as Calvin Klein were very popular but nevertheless, their own fashion never died. In fact, silhouettes which were initially worn by women adopted a masculine nature and shoulder pads were put in salwars. With the invention of cable TV, teenagers got influenced by fashion shows that were aired as they targeted the youth who in turn influenced their elders. This ushered the millennium’s last decade, the 1990s which witnessed the rise of younger designers into the Indian fashion mainstream. This period also saw the replacement of Indian fashion by the German styles produced by designers such as such as Jil Sander and Helmut Lang. Today, people have realized the importance of preserving their fashion and protecting it from being eroded by foreign cultures and thus most Indians are going back to their ethnic cultures thereby increasing their demand with much credit going to Ritu Kumar whose role in reviving Indian fashion cannot be underrated. Unlike in the past where people thought anything foreign as modern and theirs as outdated, it has dawned on people that those were erroneous ways of thinking and have reverted to their old fashions which were reflective of their identity[11]. Indeed, Indian fashion is something that has under gone a lot of changes since 1900. Notable changes could be said to have started taking place with the coming of colonialists. Much of what took place during this time to a great extent was western in nature but people went holding on their fashions which were representative of both their cultural and ethnic identity. In the 1940s, with the achievement of independence, they deserted western cultures and came to value theirs more and this continued in the following decades. The 1960s in the Indian fashion history is the epitome of change as a lot took place including the invention of synthetic fibers. Today, Indians have gone to their former traditional way of live and have awakened to the fact that their culture is valuable than the western one unlike the 1920’s belief. References: India4world. Evolution of fashion. Retrieved from   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.indiavisitinformation.com/indian-fashion/evolution-of-fashion.shtml Khatai, Ajit Bhimsen. 2001. Fashionable Crossovers. Available at   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.hinduonnet.com/folio/fo0104/01040420.htm Mukerjee, Somshuvra. 2009. Changes in Fashion Trends among Women in India.   Ã‚  Ã‚  Ã‚   Available at http://somshuvra.instablogs.com/entry/changes-in-fashion-trends-   among-women-in-india/ Shea, Stuart. 2006. The 1960s Most Wanted: The Top 10 Book of Hip Happenings,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Swinging Sounds, and Out-of-sight Oddities. Brasseys. 4thmedia.com. 2008. Fashion and Lifestyle. Accessed from   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://teamsugar.com/365194

The Three Abrahamic Religions

The Three Abrahamic Religions The three Abrahamic Religions do have some things in common, such as the belief that there is only one God, but they have some differences too. Beliefs in profits, beliefs in who is the real God and things such as those make their religions different. A first major difference between the religions is the book they study and follow and how they treat this book. The Islams have a book they call the Quran. The Jewish population has a book called the Talmud, and the Christianity religion has a book name The Bible. What are the differences in these books? Well first of all, they all treat them differently. The Islams never put the Quran below themselves. They think of this as if they were saying, Im higher than God, and Im more important than him. They also take very good care of it. When they arent using it they have it wrapped up inside of a cloth and set it on a high shelf. Also, no one else can touch their Quran without permission from an Islamic believer. The Quran itself states that only those who are clean and pure should touch the sacred text. About.com. N.p., n.d. Web. 3 Mar. 2013. . The Jewish population studies a book called the Talmud. They read over this book, memorize it, and sometimes go into major detail of what somethi ng in it means. The Talmud is made up of six sections, called Sedarim (orders). Each Seder contains several books called mesachot or tracts (singular: mesachet). The Talmud. Bje.org. N.p., n.d. Web. 3 Mar. 2013. . There are eleven mesachot in the Talmud. Each of them deals with many of the different Jewish laws. Lastly, there are the Christians, who study The Bible. The Bible to Christians is like a book full of different ways to live your life. Most people dont treat their bible like a special sacred book. People toss them around, lay in on their nightstand next to their beds, and other things such as that. The Bible has many different sections, some of these sections are in the Old Testament, and some are in the New Testament. Within these sections, there are many, many chapters, and within the chapters there are verses. For instance, I can do all things through Christ who strengthens me -Philippians 4:13. Philippians is the section, 4 is the chapter, and 13 is the verse. As you c an see, these books are all very different within each religion. They study them differently, treat them differently, and the text within them is very different. They also have different beliefs in the coming of God and who Jesus was. The Jewish religion believes that the messiah has yet to come, whereas Christianity and Islam believe than Jesus was the messiah. The Jewish believe that messiah will come later in life and they will be taken with him. The Christians and Islams believe at the second coming of Jesus, Jesus will leave the Jewish people behind and only take true believers as to let the Jews accept the fact that this is the second coming of the messiah, then he shall later come back and bring the Jewish people with him. The places where the three religions think they will be taken after Jesus takes them with him are all different also. The Islams think they are going to an eternal paradise. Jews believe one of two things, either they are going to heaven, or they think there is no afterlife. Lastly, Christians believe they will have an eternal heaven. They also have a specific view on a bad afterlife. Islams and Christians both think they will go to eternal hell whereas Jews think they will go to either eternal Gehenna, reincarnation, or no afterlife. They also have different outlooks on the birth and death of Jesus. Christians and Islams believe Jesus was born from a virgin birth, meaning Mary just randomly by Gods will had a child she was to name Jesus. The Jewish people on the other hand think Jesus came by a normal birth, saying that Mary and Joseph had a child together. Then theres the death of Jesus, which they dont agree on either. Islams believe that Jesus did not die but ascended into heaven during crucifixion. The Jewish and Christians populations believe that he died by crucifixion. Comparison of Islam, Judaism and Christianity. Religionfacts.com. N.p., n.d. Web. 3 Mar. 2013. . Then each religion has an outlook upon the other two religions. The Islam has something to say about Jews and Christians, Christians have something to say about Jews and Islams, and Jews have something to say about Christians and Islams. The Islamic people think that Jews and Christians are respected as People of the Book, but they have wrong beliefs and only partial revelation. This means that Islamic people think that the other two religions are respectable by what the Quran says, but they think that the beliefs of these people are wrong. Jewish people think that both Islam and Christianity are false interpretations and extensions of Judaism. This means that the Jews think that Islams and Christians are completely wrong in what they do and that they are not following or believing what they actually should. The y think that the other two religions should do exactly what the Jewish people do and then they would be following what they need to be. Then there is Christianity. They think that Judaism is a true religion, but with incomplete revelation. Christians believe that Jewish people are right in what they believe in, but they dont think they have full grasp of everything they need to believe in. They also think that Islam is a false religion. Christians believe that Islams are wrong in everything they do and what they are doing is completely wrong. They are against anything Islamic people do, and would never partake in any of it. Comparison of Islam, Judaism and Christianity. Religionfacts.com. N.p., n.d. Web. 3 Mar. 2013. . Not everyone in this world can believe the same things, do the same things, or even partake in the same activities, but that doesnt mean they cant sometimes get along. These three religions dont hate each other, they just dont always necessarily agree with one another. Its like they are siblings fighting over where to go out to eat. One of them wants seafood, one wants barbecue, and the other wants Italian. Christians want Jesus to come take them away so they can go live an eternal life in heaven, Islams want their God to come save them so they can have an eternal life in paradise, and the Jewish people want Jesus to have his first coming and save them. They all have disagreements on whats right and whats wrong, but they can sometimes get along. For instance, they all believe in one God and worshiping that one God. They all believe that there should be a certain day on which they worship, even though these days are not the same. They all believe in a hell and demons along with angels . They all have a special book of their own that they study, and in that book is the word of that religions God. So you see, they may have many, many differences as the three Abrahamic Religions, but they do have some things in common that they agree about also. About.com. N.p., n.d. Web. 3 Mar. 2013. . The Talmud. Bje.org. N.p., n.d. Web. 3 Mar. 2013. . Comparison of Islam, Judaism and Christianity. Religionfacts.com. N.p., n.d. Web. 3 Mar. 2013. .

Complete Darkness - Original Writing :: Papers

Complete Darkness - Original Writing I woke up in complete darkness with an uncontrollable sharp stabbing pain in my jaw, it was the middle of the night and I was about ten, I had been sleeping in the top bunk bed in our Camper Van. I gave out a great cry of pain and I could hear my mum coming down the steps from her cabin bed. She switched on a light and I could see blood all over the camper vans lineal floor, I could hear my sister Jenna complaining about the bright light that had awoken her from her deep sleep, Mum told her to go back to sleep. My mum took me up of the floor and placed me into the bed and I can remember jumping up and down with the pain. Mum took me into the bathroom to clean up the blood and I remember her holding me on her knee while she sponged my face with a facecloth. I also remember the bathroom being very small for two people. My stepfather Davy was also at the door of the bathroom and then he turned to clean up the blood from the floor. Mum remarked that I must have put a tooth through my face, as there was a small hole above my lip. When the bleeding stopped Mum put me back into bed and I was still in a lot of pain but she stayed with me for a while and comforted me to try and make me go back to sleep. After some time Mum decided that she wanted to call the casualty department at Coleraine Hospital to ask their advice on my fall. When she came back I told her that I could feel a hole on the inside of my mouth - my tongue would have gone into it. Mum got a torch and looked in and said nothing. I could hear her going up the steps to the cabin bed and speaking with my stepfather. Next thing I knew was that Mum was telling me we were going to Coleraine Hospital.

Henrik Isbens A Dolls House Essay -- A Dolls House Essays

Independence   Ã‚  Ã‚  Ã‚  Ã‚  Most of us live a life where we do what we want and when we want without anyone telling us how to live our lives. This wasn’t the case in A Doll’s House by Henrik Ibsen, where he illustrates to us how one woman lives a life through her father and husband. Throughout the play we see how a once childish like woman gains her independence and a life of her own. Ibsen shows us a very realistic play that demonstrates how on the outside Nora and Torvald seem to have it all. While in reality their life together is simply empty until Nora stands up for herself and starts to build her own life.   Ã‚  Ã‚  Ã‚  Ã‚  Nora Helmer was a fragile character that relied on her husband for her own identity. This dependence has kept her from having her own personality in so many different ways. Throughout the story Nora portrays the perfect housewife who stays at home to take care of her family and please her husband. From early childhood Nora has always held the opinions of either her father or Torvald, only hoping to please them. Nora’s upbringing was so easy that she only needed to make a cute noise and someone would come running over to serve her. It’s no wonder that when she got married that Torvald followed the same routine. Ibsen even states that, â€Å"she was merely a doll, a plaything, passed from papa’s hands onto Torvald’s† (1610). I believe that these actions made her look extremely infantile, showing that she had no thoughts of her v... Henrik Isben's A Doll's House Essay -- A Doll's House Essays Independence   Ã‚  Ã‚  Ã‚  Ã‚  Most of us live a life where we do what we want and when we want without anyone telling us how to live our lives. This wasn’t the case in A Doll’s House by Henrik Ibsen, where he illustrates to us how one woman lives a life through her father and husband. Throughout the play we see how a once childish like woman gains her independence and a life of her own. Ibsen shows us a very realistic play that demonstrates how on the outside Nora and Torvald seem to have it all. While in reality their life together is simply empty until Nora stands up for herself and starts to build her own life.   Ã‚  Ã‚  Ã‚  Ã‚  Nora Helmer was a fragile character that relied on her husband for her own identity. This dependence has kept her from having her own personality in so many different ways. Throughout the story Nora portrays the perfect housewife who stays at home to take care of her family and please her husband. From early childhood Nora has always held the opinions of either her father or Torvald, only hoping to please them. Nora’s upbringing was so easy that she only needed to make a cute noise and someone would come running over to serve her. It’s no wonder that when she got married that Torvald followed the same routine. Ibsen even states that, â€Å"she was merely a doll, a plaything, passed from papa’s hands onto Torvald’s† (1610). I believe that these actions made her look extremely infantile, showing that she had no thoughts of her v...

Comparing Suppression of Women in Feminine Mystique, Radicalesbians, an

Suppression of Women through Isolation in The Feminine Mystique, Radicalesbians, and Trifles It is far easier to break the spirit of one human being than that of a united group of people. Betty Friedan’s "The Feminine Mystique", "Radicalesbians", and Susan Glaspell’s "Trifles" come to the same conclusion: isolation and separation caused women to be vulnerable to domination by male society. Social stigmatization by men, an inability to describe the situation, and a lack of personal identity kept women apart from one another. A fear of social stigma was one factor that kept women from supporting each other. In "The Feminine Mystique", Betty Friedan discusses how American housewives went about their daily lives "afraid to ask even of herself the silent question – ‘Is this all?’" Women were told that family, a husband, and children would bring them fulfillment and when it didn’t, they were afraid to admit that they weren’t happy. Freidan’s white, middle-class housewives were afraid of living outside the feminine ideal they had grown up heari...

Army Standards and Ethical Dilemmas Essay

The inconsistent application of Army standards leads to unethical decisions on a daily basis. Despite an emphasis on Army values at all levels, military leaders open themselves up to make unethical decisions when they don’t adhere to set standards. Despite the Army having clear standards on height/weight, APFT, the tattoo policy, and reporting requirements, leaders often take it upon themselves to ignore the standard or create their own. Leaders have the responsibility to maintain and enforce standards which are driven by regulations. If military leaders would consistently enforce these standards, ethical dilemmas and unethical decisions would be significantly reduced. Army Standards and Ethical Dilemmas Standards are necessary within an organization to promote discipline, production, and efficiency. Recently, the Sergeant Major of the Army visited the Sergeants Major Academy and the focus of his presentation was really about Army Standards. The Sergeant Major’s message got me thinking about Army standards and the inconsistent application of these standards throughout the Army, specifically the ethical dilemmas that arise due to this inconsistency. If an organization’s standards are applied inconsistently, that organization’s culture changes and allows room for unethical application of those standards. In the Army we see this inconsistent application of standards in the areas of height and weight standards, the APFT, the tattoo policy, application of punishment through the UCMJ, and in unit reporting. Standards First, we must define what a standard is. Standards are methods that define what success is in a training event, such as an APFT or marksmanship qualification. Standards are the rules for conduct in the work place and while off duty. Standards are rules or guidelines for proper wear and appearance in the uniform. In the Army we have regulations, training manuals, and unit standing operating procedures that spell out the â€Å"standard† for everything we do without exception. The Army even has a standard for organizational values, LDRSHIP. A tool that should make consistent application of standards easy for leaders is the acronym LDRSHIP: loyalty, duty, respect, selfless service, honor, integrity, and personal courage. Despite regulations and despite Army values, our leaders, Army wide, have difficulty in enforcing standards consistently the result for these leaders, often times, is making unethical decisions which have a negative effect on the force. Our challenge as leaders is to do a much better job of enforcing standards, as well as consistently applying the standards in order to reduce ethical dilemmas. Height/Weight and APFT The Army clearly spells out its policy or standard for both height/weight and physical fitness standards in AR 600-9 and in FM 21-20. In AR600-9, the standard for how much a Soldier can weigh, based on his or her height and age is spelled out. If a Soldier exceeds the height/weight screening table, then the Soldier is taped to assess the amount of body fat the Soldier has. If the Soldier exceeds the allowed body fat percentage, AR 600-9 specifies what actions are to be taken by the commander. Some of the consequences include, counseling by the Soldier’s supervisor, nutrition counseling, the Soldier should be flagged and barred to re-enlist until meeting the height/weight standard, ultimately the Soldier should be chaptered out of the Army if he or she is unable to meet the standard. Just like AR 600-9, FM 21-20 specifies the Army standard for both the conduct of the APFT as well as the standard for passing the APFT. Additionally, the Army has specified that a Soldier that doesn’t pass the APFT should be flagged and not eligible for promotion until that Soldier meets the standard. One would think that such straight forward standards would be easy to follow and adhere to as an organization, but quite the opposite has been true throughout the Army the application of standards has been difficult. The first example that comes to mind is the measuring techniques that are spelled out in AR 600-9 that determine a Soldier’s body fat. I have been in the Army for twenty-one years and have been subject to the tape test my entire career; I can tell you that measurement methods have been inconsistent at best. Sometimes, there are the appropriate numbers of people doing the taping, but often times there is just one person doing the taping. Sometimes, the person doing the taping measures the Soldier correctly and other times the person may tape in such a way as to give the Soldier an advantage. As far as the grading of the APFT goes, although FM 21-20 specifies the correct way to do a push-up or sit-up, the actual scoring for these events are wildly inconsistent from grader to grader. Sometimes these inconsistencies hurt a Soldiers score, but often these inconsistencies give an unfair advantage to a Soldier over his or her peers. The inconsistencies in grading the APFT and measuring a Soldier’s body fat are magnified by those leaders who don’t even bother and just â€Å"pencil whip† the results of both. What a unit or leader does or does not do to Soldiers who fail the APFT or do not meet the standards of AR 600-9 is where possible ethical dilemmas arise. I was the height/weight NCO for a company for almost four years, and we never chaptered a Soldier for height/weight. However, it was not because I or any other NCO didn’t do what is required by AR 600-9. Soldiers were not chaptered primarily due to end strength, bottom line we needed Soldiers. Commanders were unwilling to adhere to standards in order to retain more Soldiers. This is a classic example of inconsistent application of standards that led to the unethical decision of retaining Soldiers that could not meet the Army standards for height and weight. Tattoo Policy Another area of inconsistent application of an Army standard is the Army’s policy on tattoos. For years, the Army’s policy on tattoos prohibited those in the Army or those seeking to enter the Army from having tattoos that were visible below their wrists or visible above the neckline while in uniform. In order to meet recruiting requirements, this policy was lifted and those entering the Army were allowed to have tattoos that were visible above the neckline and below the wrist. Now that the Army is drawing down, the standard is reverting back to the old policy of no tattoos visible above the neckline and below the wrist. If a Soldier with such tattoos desires to stay in the Army, that Soldier will have to pay to have the tattoo removed. Personally, I agree with the policy of no visible tattoos and think such tattoos present an unprofessional appearance. However, I don’t think the Army should have changed the standard to allow such tattoos in the first place, regardless of the recruiting requirements. What has resulted from this policy change or unethical decision is that a significant number of Soldiers who were allowed to join with these tattoos, are now being required to either pay to have the tattoos removed or get out of the Army. If there is no â€Å"grandfathering in† of this policy, then the Army has made an unethical decision to force these Soldiers out or to pay, from their own pockets, to have these tattoos removed. The Army allowed these Soldiers into the Army when the Army needed them, now that the Army is downsizing these Soldiers are being forced out or forced to remove the tattoos. Where were the Army values in this decision? Application of UCMJ Having been a first sergeant, I have been a part of many UCMJ proceedings and have witnessed how Soldiers of different ranks are treated differently. I have witnessed First Lieutenants that have been convicted of DUI get moved to a new unit and later get promoted to Captain. I have also witnessed Sergeants First Class get DUIs that have been demoted and forced to retire. What is ethical in having the same standard, yet having a totally different application of punishment for the same offense? This same argument can be made for two Soldiers of the same rank committing the same offense, and receiving totally different punishments. This usually happens when the Soldier’s chain of command states what a great Soldier they are, request leniency on the Soldier because the Soldier has a family, or is in financial trouble. It is ultimately the decision of the commander to decide punishment of a Soldier, but I contend that it is unethical and unfair to give different punishments to Soldiers for the same offense. Soldiers know what happened when two specialists who went AWOL both came out of their Article 15 hearings and while one is still a Specialist, and the other is now a Private First Class. This type of unequal treatment is unethical and unfair, and has a negative effect on the command climate and unit morale. Official Reporting Another area of unethical activity that is widespread throughout the Army is n official reports, both to the next higher headquarters, clear up to the Department of the Army. A very common occurrence of this false reporting occurs when mechanized or aviation units report their operational readiness rates. Commanders at all levels are under tremendous pressure to report a readiness rate within the Army standard for their type of unit. A commander whose unit’s OR rate is not up to standard, has a high likelihood of being relieved. All too often, these commanders succumb to the pressure and submit false reports to maintain the illusion of preparedness. Conclusion If an organization develops a standard, then those standards should be both enforceable and enforced upon all in the organization. If an organization creates a policy and then changes the policy, the organization should build in exemptions to that policy that prevents the change from being unfair to those already in the organization. If an organization’s standards are applied inconsistently, that organization’s culture changes and allows room for unethical application of those standards. In the Army today and through the years we have seen inconsistency after inconsistency in the enforcement of Army standards. The creation of the Army values and focusing to ensure that all Soldiers know the acronym LDRSHIP was supposed to help with ethical decisions and prevent inconsistent application of Army standards. I think as a whole the Army is getting better in these regards, but we have a long way to go. Continued ethics training from basic training through the war college will help, but consistent application of standards is the key to keep leaders from making unethical decisions.

A Dream within a Dream: A Critical Analysis Essay

A Dream within a Dream, by Edgar Allen Poe, is a poem with its central themes being sorrow, loss, confusion and frustration. The poem is divided into two stanzas, each with a different setting but both closely interconnected. It begins with the narrator kissing his lover upon their â€Å"parting† (line 2). He ponders whether everything in life is nothing but â€Å"a dream within a dream† (line 11). The second stanza depicts the narrator standing on a sea-shore while he weeps. He struggles to hold the â€Å"grains of golden sand† (line 15) within his palm, but alas, is unable to. The tighter he tries to grasp, the more they slip away. The poet, through this work of his, has portrayed his most profound feelings and thoughts. â€Å"The surf-tormented shore† (line 13) symbolizes the poet’s fraught state of mind. His mind is the shore that is â€Å"tormented† with many thoughts (surf). The grains of sand can be taken to represent the people and things that he loves in life. He communicates his sense of anguish at not being able to hold on to them, and at the thought that ultimately the â€Å"pitiless wave† (perhaps death) will carry them away. The poet twice states that he is weeping and he cries out to God. This further highlights his agonized mental and emotional state. The lines â€Å"all that we see or seem Is but a dream within a dream† are repeated twice; once as a question and the second time as a statement, possibly with a sense of hope that all the losses suffered by him are nothing but mere dreams from which he will wake. The language and strong use of symbolism by the poet endow the poem with deeper meaning. The reader can easily relate to it because each one of us undergoes this sense of agony at the loss of a loved one. We might feel that things are slipping away from our hands but we remain helpless. The poet has captured this aspect of human existence very beautifully. Although there are portions of the poem that are vague as one cannot be sure what the poet is trying to convey, the overall effect of the poem on the reader is captivating. ? Works Cited Poe, Edgar A. â€Å"A Dream within a Dream†. Poetry X. 29 Nov 2004. 14 July 2010 <