Wednesday, November 27, 2019

Essay on Qwsd Da

Essay on Qwsd Da Essay on Qwsd Da Revision Date: August 29, 2007 M ART IA L C A P I TA L W H I T E PA P E R : WH AT ABO UT THE E F F I C I E N T M A RK ET H Y P OTHE SI S? www.martialcapital.com Those who believe in the Efficient Market Hypothesis, which includes the vast majority of professional investors worldwide, will say that it is impossible to sustain the kinds of returns Martial Funds has demonstrated in our backtest and in our short period of live investing. This White Paper talks about their concerns and our response. The Efficient Market Hypothesis, developed by Prof. Eugene Fama at the University of Chicago in the early 1960s, says that everything that can be known about a stock has already been incorporated into the price of that stock. From this hypothesis have come many of the theories that we use to explain the financial markets: the arbitrage principles of Miller and Modigliani, the portfolio principles of Markowitz, the Capital Asset Pricing Model of Sharpe, Lintner, and Black, and the Option-Pricing Model that won for Black, Sholes, and Merton the Nobel Prize. Investment professionals globally have embraced the Efficient Market Hypothesis. It is taught thr oughout the world in schools and in CFA licensing courses. It is used in particular by investment managers to explain their almost-index performance to their clients. Virtually all of current day financial theory is based in one form or another on the Efficient Market Hypothesis. The most important consequence of this hypothesis (for this discussion) is that it is not possible to outperform the market (adjusted for risk) over the long term. Random chance may allow a specific portfolio (a fund or privately-managed account) to do better in one year than the index, perhaps much better, but random chance will smile on some other portfolio manager next year so that over the long term, the hypothesis says, no managed fund can do better than the market. Our reply is two fold:  Look at the assumptions underlying the Efficient Market Hypothesis and judge for yourself if they are reasonable, and  Look at our results. Page 1 Â © 2007 Martial Capital Ltd. Reproduction in whole or part without written permission is prohibited. Revision Date: August 29, 2007 www.martialcapital.com WHAT A BOU T T H E E FFI C I E NT MAR KET HY PO THESI S? Among the assumptions the Efficient Market Hypothesis makes are:  Investors are rational.  Markets are rational.  There are no taxes – or, more specifically, taxes play no part in financial decision-making.  There are no transaction costs.  An investor is indifferent between a dollar in dividends and a dollar in capital gains.  A company (and its investors) are indifferent between a dolar of aditional debt and a dollar of additional equity. The list is much longer, but you get the point. Our second argument is straightforward: How long does a fund have to convincingly beat the index before a follower of the EMH agrees that someone has proved they can beat the market? Between 1977 and 1990 – 13 years – Peter Lynch at the Magellan Fund achieved an average annual return of 29% after fees and expenses1. Is that not an example of a fund having convincingly beaten the market? The biggest problem for advocates of the Efficient Market Hypotheses is that many funds have proven they can outperform the market. Peter Lynch at Fidelity. The Harvard and Yale Endowment Funds. Warren Buffet. Our own Martial Funds have (with our backtest period plus our live experience) beaten the market every year since 1990 in the case of our Canadian portfolio, and every year since 1998 in our US portfolio. This could not be possible if the Efficient Market Hypothesis was true. To reconcile this paradox let us look more closely at the academic studies that prove that no managed fund can beat the market over the long term. The essence of their argument is that there never has been such a fund. These studies show that the results of all managed funds looks more like a

Saturday, November 23, 2019

10 Top Companies Hiring Part-Time Workers Right Now

10 Top Companies Hiring Part-Time Workers Right Now Looking for a part-time job? Summer is coming, school is out, and you need a gig to earn money and fill your summer days. Here are 10 of the top companies hiring the most part-time workers to their books at the moment. 1. The Vitamin ShoppeThis company boasts happy employees, salaries above average, and progressive policies and benefits, and has a focus on customer service rather than sales numbers. The Vitamin Shoppe has nearly 2,000 part-time openings.2. ChipotleThis gig comes with a flexible schedule, a laid-back atmosphere, and decent food (organic meats!). With over 1,500 restaurants in 45 states, this â€Å"fast casual† spot has over 1,400 part-time openings at present.3. Bayada Home Health CareProviding one-on-one nursing and other health care in 25 states, this company has over 1,100 part-time openings and tons of satisfied employees.4. UPSDelivering 15 million packages per day and employing hundreds of thousands in the United States and globally, this company boasts o ver 1,000 part-time openings and a challenging, interesting work environment.5. Liberty Tax ServicesWith a whopping 5,114 part-time openings, this company helps low-income employees and small businesses with thousands of branches around the world. Also good job security and generally positive employee reviews.6. Macy’sWith over 3,000 part-time openings and branches all over the country, this retail giant also hires seasonal employees that can occasionally transition into full-time work.7. MarketSource JobsWith an HQ in Georgia and nearly 3,000 part-time openings to assist companies with marketing strategy, training, and sales, this kind of job would be great for you if you were suited to sales in general: i.e. you’re personable, upbeat, and have a can-do attitude.8. United Health GroupWork in health insurance, which can help you transition into jobs in accounting or business or economics. There are more than  1,200 part-time openings, and according to employees, ther e’s a great  work-life balance.9. Vector MarketingLove knives? Great at sales? This company is owned by Cutco, famous for great cutlery. They have more than 1,900 part-time openings. Deal closers apply!10. FirestoneThis company isn’t going anywhere anytime soon. It’s one of the oldest American tire/repair companies and has more than 1,600 locations nationwide. Employees report good camaraderie and higher-than-average compensation. More 1,000 part-time openings await!

Thursday, November 21, 2019

The proletariat during the Russian revolution Research Paper

The proletariat during the Russian revolution - Research Paper Example The praxis of the proletarian was developed by Lenin in the year 1917 he argued that the proletariats were only interested in the state for a given period of time and that it was never geared towards advocating for separation from the anarchists through the elimination of the state. He further articulated that the best form of revolution was that which could offer defense to itself and that could only be achieved by the form of dictatorship by and for the proletariat. Dictatorship of the proletariat during the Russian revolution was to allow the working class members of the society quelling all manner of opposition, strengthening of political power, gain control over the various means of production and to break up the entire machinery of the bourgeois. The process was to be attained through massive education initiatives that targeted the peasants as well as the small-scale business persons, intellectuals, office and industrial employees so as to equip the m with the necessary skills needed to attain some level of freedom both socially and economically. The initiatives were directed towards coming up with a more democratic system backed by rights and liberties of the humanity as opposed to democratic parliamentarism that was being propagated by bourgeois. Stalin came up with three dimensions in order to develop an understanding of the dictatorship of the proletariat. One is that he considered it as an instrument for the proletarian revolution. Secondly, it was regarded as the rule over the bourgeoisie and finally as a form of Soviet power that represented the entire state. The Communist Party became the stronghold of the proletariat. The key elements during the revolution of the proletariat were based on the ultimate devotion of the people to the revolutionary ideas, proper attendance of classes after work so as to ensure that the works of Marx and Lenin were

Wednesday, November 20, 2019

Business Law Essay Example | Topics and Well Written Essays - 1000 words - 2

Business Law - Essay Example The primary concern of the questioner is whether his concern can be referred to the court. The other two concerns are: 1. Position of the concerned court with respect to end-of service gratuity for the previous period of the visa. 2. Salary difference of the actual received and mentioned in the labour contract. Response: Al Shaiba clarified about the right of questioner that he has full right to get compensation based on his actual employment duration which is three years. Regarding the salary difference, Labour Law calculates the compensation based on the current salary drawn by the employee. Therefore, both the concerns addressed clarify that the employee shall get his case referred under the concern court through the Ministry of Labour. Query#2: Gratuity Calculation The questioner worked in a company under unlimited contract for one year before tendering his resignation. Questioner has two queries: 1. The end of service gratuity was calculated on the basis of 21 days salary. 2. If the questioner is legally entitled for a return ticket to his home country as the contract was signed in the home country. Response: Al Shaiba gave the reference of Article No 137 of the Federal Labour Law No.8 of 1980. This article clarifies the doubt of the respondent. The article states, "Where a worker under an indefinite term contract abandons his work at his own initiative after a con ­tinuous service of not less than one year and not more than three years, he shall be entitled to one-third of the severance pay provided for in the preceding article. Such a worker shall be entitled to two thirds of the said severance pay if his continuous service exceeds three years up to five years and to the full severance pay if it exceeds five years". The second doubt is clarified that the employee is entitled to get the return tickets to home provided he returns back to home country and does not work with a new employer. Query 3: Arbitrary Dismissal This is a case of dismissal of an emp loyee who was working for his company from more than two years. The nature of the contract was for unlimited period. The employee received dismissal due to his absence from work for five consecutive days without excuse, 6th day he was present at work but again 7th and 8th day he went absent. The dismissal was justified under pursuant of the Article n. 120 (Labour Law) and employee was explained that he was not entitled to end-to service gratuity even after producing medical report for the absence period. The queries were: 1. Questioner wanted to know the Article 120 in detail. 2. Questioner wanted to clarify what should he do if the dismissal is not in conformity of the Article no.120 of the Labour Law 3. If there is no conformity; could he get reinstated by his company under legal obligation of Ministry of Labour/Competent court? Answer: The article No.120 of the Federal Labour Law No.8 of 1980 is as follows: "An employer may dismiss a work ­er without notice if and only if the w orker: 1. Assumes a false identity or na ­tionality or submits forged certificates or documents; 2. Is engaged on probation and is dismissed during or at the end of the probationary period; 3. Commits a fault resulting in sub ­stantial material loss to the employ ­er, provided that the latter notifies the labour department of the inci ­dent within 48 hours of his becoming aware of its occurrence; 4. Disobeys instructions on

Sunday, November 17, 2019

Animal Cruelty Essay Example for Free

Animal Cruelty Essay Renà © Descartes, a famous philosopher, once argued that, â€Å"animals are not sentient- they are machines, like mechanical clocks, devoid of feelings and incapable of experiencing pleasure or pain† (Vaughn). Today, unlike Descartes, most people believe that animals are intrinsically or instrumentally valuable, also, whether they have or deserve any rights. Defining what cruelty is has been very subjective. To some people. An animal is just property and they can beat it around as much as they want, to others, animals are part of their family and they would never lay a finger on them. There is legislation against animal cruelty but because there is so much subjectivity, the legislation fails to deter people from abusing their animals. For there to be equal justice for animal cruelty people must agree on a completely objective definition of what is cruelty and what is not. see more:animal cruelty essay Legislation for animal cruelty varies state to stat. Ohio has laws for animal cruelty in general and a section for cruelty against companion animals. The law defines companion animals as â€Å"any animal that is kept inside a residential dwelling and any dog or cat regardless of where it is kept: (Ohio Cruelty). The law does not consider any livestock or wild animal as a companion animal. The legislation then goes into what it considers cruelty, torture, or neglect. The punishments outlined in the law include jail time, fines, and the removal of their animals. The one thing that is not counted for in this legislation is the emotional ties to the animal. Every person is emotionally attached to their animal in a different way. There is no real objective way to measure how much an animal means to a person. Just because a person is emotionally attached to their animal, that does not mean that they will not commit any act of cruelty against their animal. It is said that Michael Vick claimed to love his dogs even though he subjected them to fog fighting. It is possible that in him mind he truly believed he cared for his doffs. In less extreme cases, a person could love an animal but still strike it when it was bad, In their mind the dog was bad so it deserved to be beaten,. They just do not see that as being animal cruelty. Most people believe that it is wrong to be cruel to animals. Within  different societies, animals are treated differently. Depending on how and or where a person was raised, an animal could be a loved pet that is part of their family, or they could just treat it as property and a tool that is just there for their personal use. According to Ohio law if a person owns a dog then it is considered a companion animal, no matter if it is kept in their residential dwelling or not. IN one situation the owner keeps their dog in their house and it is a part of the family. They treat their dog like a baby, petting, playing, and cuddling with it. In another situation the owner keeps their fog outside and uses it as a watchdog. The only interaction with the dog is just checking to make sure it has food and water, and maybe a quick pat on the head, and gives it a â€Å"good dog† praise. It is quite easy to see that he first person loves their dog. It is not so easy to tell in the second si tuation. They may truly love their dog and that was how they were raised to treat it. They could also have emotional attachments to the dog, such as being proud, without really caring about the dog. Kind of like my dog is bigger than your dog pride. Within the law both situations are considered equal, even though they are unequal in the emotional attachment to their animals. Living in Ohio we are familiar with the Amish culture. They live a more simplistic life without modern technologies, usually farming. Amish are known for their horse-drawn buggies that they use to get around. They also use horses to help on the farm. To some of them, horses are merely a tool and once the horse gets too old and can no longer do what they need it to do, the kill it, To them that is just the way it is, they do not consider that being cruel, People outside the Amish lifestyle have tried to come in and rescue the horses so that they can continue to live, even though they cannot work anymore. Amish are also known for owning ‘Puppy Mills’. Puppy mills are breeding kennels in which dozens, or even hundreds, of dogs are allowed to live in small cages for their whole life, as long as they are given the basics, food, water, and shelter. (Puppy Mills) These mills are not illegal. Some of these Amish-owned [puppy mills treat their dogs very poorly. â€Å"The Amish say they raise dogs much as they would any other livestock, restricting the dogs  to small cages and killing the parents when they are no longer productive† (Hinds). To most people this sounds horrific because they consider them to be companions, not livestock. Animal cruelty is subjective, and that is why legislation is not working to stop it, there needs to be an objective measuring system to measure an animal’s current welfare. There is debate to what standards need to measure and of what weight to put on each of the standards. The one thing that is known is: â€Å"Defendable animal welfare standards require scientific knowledge about animal biology to determine their physiologic, health, environmental, an behavioral requirements. However it is important to note that ethical or value-based judgments provide the underpinning for the scientific questions posed† (Millman). By looking at an animal’s physical behavior, and other factors, and comparing them to the standards, the welfare of the animal can be determined. Millman was talking about measuring the welfare of livestock. The same theory can be applied to companion animals as well. If there are things that [people can look at to determine objectively that an animal is being related cruelly, then legislation will be able to be written that will apply to everyone and will work in every situation, no matter the emotional connection to the animal. Once there is an objective way to measure animal cruelty, the public need to be educated about it. IF more people know what exactly counts as animal cruelty, then they will be more likely to report it. Currently, shows like Animal Cops: Houston bring animal cruelty out of the shadows and show the public that animals are really being abused and that people do get punished for their actions. The Houston Society for the Prevention of Cruelty to Animals is just one of the numerous societies in the U.S. that are fighting against animal cruelty. It is said that â€Å"The HSPCA receives over 10,000 reports of animal cruelty or neglect each year† (About Animal Cops: Houston: Animal Planet). People need to be aware of animal abuse to be able to report it. â€Å"Without phone calls from concerned citizens, officials wouldn’t know about most instances of animal abuse. IT all comes from the public† (Maloney). Once people report cases than the people can actually be punished for their actions. In Ohio, Whoever violates the current animal abuse law can be convicted of a misdemeanor of several degrees, and possible a felony of a certain degree. The punishments include jail time and fines, along with the removal of the animal from the convicted person. Some people do not think that the current punishments are fair for the crimes committed. One study gave people different scenarios and asked them to rate the punishment that was given. The Study showed that people were speciesist and chose harsher punishments for abuse on certain animals like puppies as compared to other animals such as chickens. The study found that the most important factor of the punishment was restricting the perpetrator’s ability to adopt an animal in the future. The study also found that the crime type (abuse or neglect) and the crime outcome (life or death) were not strong variables of punishment ratings (Sims). In Some cases, the abuse or neglect of an animal was just because of ignorance. IN those cases the person usually would just be educated about the proper treatment of animals and would not be punished, unless they were found to have not changed and still committed the abuse even though they knew it was wrong. Each crime is different and is judge d by different people so the perpetrator’s punishment tends to vary a bit. IF there was an objective way of identifying animal cruelty then it would be easier to make punishments fairer. The key to fairly assessing animal cruelty is being able to objectively identify it. Once it becomes objective, emotional ties will not determine what is cruelly. People then need to be aware of what is considered animal cruelty and report it when the see it. After that the crime can be fairly punished.

Friday, November 15, 2019

The Bluest Eye - Morrisons Attempt to Induce White Guilt :: Bluest Eye Essays

The Bluest Eye - Morrison's Attempt to Induce White Guilt I've heard the fable before, three times in fact. Originally, the oracle in question was always an old man, an Asian philosopher and blind. The boys carried in a live bird, not a dead bird as she described as a "small bundle of life sacrificed" or the absence of bird altogether. The boys asked the same question. If the philosopher answered dead, they would let it fly away, but if he answered alive, they would kill it and drop it at his feet, proving him wrong with either answer. When the old, wise, blind man was presented with the question, he pondered it a bit and deduced their scheme. He answered, "The fate of that bird is in your hands." Toni Morrison altered the fable in her Nobel Prize Acceptance Speech, offering her perception of it, which is understandable as she is a writer and is building an analogy to it. Writers often focus on perception in stories and some writers need to as in the case of Morrison and The Bluest Eye. The perception and point of view in which the story is told to the reader is essential for Morrison to build her case. She needs to suck the reader into her framework of thinking using stories of abuse and neglect to create compassion and sympathy for the characters of her story. The catch is, she's not telling a story so much as selling a product. When a good salesman pushes an item, the first step is to have the audience succumb to his way of thinking. Morrison's product here is a philosophy, an idea that is the theme of her book. That idea is that physical beauty is "probably the most destructive idea in the history of human thought." She pushes this idea right through the reader's brain. It is the ruin of the black girls. If only they were pretty. If only they had pretty blue eyes. We might be able to think of beauty as the bird. True beauty, in Morrison's ideology, would be the absence of the bird. Lacking in physical attributes, but representative of all things free and without boundaries. If the bird is present, whether alive or dead, the physical intrusiveness of it then defines its beauty.

Tuesday, November 12, 2019

Family history Essay

English 12 Oct, 02 2013 Cuiyu.He Mr.Wong My Father My father is one responsibility person. My grandmother has four children, my father is the oldest one, and he has two brothers and one sister. They were very poor in their childhood, my father only finished middle school, and then he needs go get a job for his brothers and sister to pay for the school. When my father was teenager, he can do a lot of things such as farming, selling the crops and take care of the family. My Father was born in 1963, has experienced the Cultural Revolution of the 60 s and seventy s life, he has also experienced the Cultural Revolution after the era of reform and opening up in the eighty s and ninety s life and well-off life in the 21st century. I always hear my father say, I was born at right time; when I was born I can have anything. Before China carried out reform and open policy, my father was not enough twenty year old. The whole country was poor at that time, Even the common people to raise a few chickens and sold eggs have a little more money can’t buy buy clothes, include my father’s family. My father remember as he was a child, every sew a new clothes must wait for Chinese New Year, and sewed particularly big, wear in the body doesn’t fit, sewing plan have to grow up when he was three years old can wear, if the fit, the body grow up a year, the clothes will not grow up. Every clothes were wear by brother and yonger brother and then sister in turns. anyway, the youngest children basic can’t wear new clothes, can only wear take down the old clothes, and often the old clothes on pile of patch. When my father was a kid, listen to my grandmother said: â€Å"in order to save money, grandmother just buy 1 cent or 2 cents vegetables, 9 cents of rice, meat, fish is unthinkable, is eat fish oil are not to burn, only 5 per person per month plan two oil, half jins of flesh, Sometime they do not have enough food for everyone, they were only eat sweet potato evey meal; they do not have any pork to eat, and until they would have a chicken to eat must wait for New Year.my grandmother to the balance of the money you gave birth to a child do confined, due to the lack of nutrition, grandmother sometimes faint in the ground, the grandfather’s wages to the 52, 50 RMB, only slightly better family life. In order to reduce the burden of my grandfather, my father took temporary workers, worked at the porters, stevedore, caster, Turner, he only have 28 to 60 RMB a month. After the reform and opening up to a good period, especially into the 21st century, our lives have improved considerably, my father’s income also has in the past 300 RMB rose to nearly 30000 , my father was building our first home in our hometown. In 1997, my father immigrant to the Untied State, he also working hard every day. My father used his whole life for his family, I love him, and He is always my most respected person in my heart.

Sunday, November 10, 2019

Income Smoothing

Journal of Economics, Business and Accountancy Ventura Accreditation No. 110/DIKTI/Kep/2009 Volume 14, No. 1, April 2011, pages 59 – 78 THE THEORETICAL CONSTRUCTION OF INCOME SMOOTHING MEASUREMENT Alwan Sri Kustono Jember University E-Mail: [email  protected] com Tegal Besar Permai 2-E1,Jember,Propinsi Jawa Timur,Indonesia ABSTRACT The income smoothing is a dimension of the accounts manipulation theme that has been a ttracting a great attention in the accounting literature. A goal of manipulation widely as cribed to managers is the desire to smooth.Reported income, Income smoothing reflects reducing the possible income fluctuations so as to make it as stable as possible throughout the ism. Almost of income smoothing research in Indonesia used Eckel’s index to clasify smoother non smoother firms. Empirical evidences have provided support for the existence of an income smoothing behavior. The studies showed inconsistent about factors determining this smoothing. The purp ose of the present investigation is twofold. First, we seek to determine if Eckel index is a reliable instrument to measure income smoothing behavior.Second, we pretend to identify the new instrument to measure incidence of income smoothing. Our research sample comprises manufacturing companies listed on the Indonesia Stock Exchange, over period of 1999-2008. This study confirms Eckel’s index is not reliability instru ment. The new proposed index quantifies the incidence of income smoothing without depend on n periods. The results imply that researchers should re-examine the conclusion of previous studies, particularly that determinant, factors and effect of income smoothing practices. Key words: income smoothing, Eckel’s index, c oefficient of variation, reliability.INTRODUCTION It has been noticed that income statement is considered as one of the statements to be presented in financial reporting. For that reason, the company’s earning is considered vital infor mation for it can be used to measure the corporate performance. In other words, information of the earning can be used to assess the performance or accountability of management and also predict the ability of companies in the effort of contributing to the following earning. In general, earning reporting is frequently not free from the accounting manipulation. Yet it appears different from the fraudulence.Accounting manipulation can be still in tolerant when it is put in the accounting rules. In contrast, fraudulence practices tend to be against the rules and accounting standards. Thus, it is delicately different from income smoothing. In fact, one 59 of the practices of accounting manipulation is income smoothing. In connection with the pursuit of analyzing income smoothing in the companies, some definitions of it can be inferred. First of all, income smoothing is defined as the emphasis on the fluctuations in income levels that are considered normal for the company (Barnea et al. 1 976). For another thing, Beidleman, (1973) defines income smoothing as the management efforts to reduce abnormal variations in the earning to the extent permitted by the principles of good management and accounting. Income smoothing in such instances, is as a tool used by management to reduce the variability of reported income stream relative to the target which is intentionally smoothed by using artificial or real variable. In addition, income smoothing is one-dimensional manipulation of accounts that attract the atten- ISSN 2087-3735 The Theoretical Construction †¦ (Alwan Sri Kustono) ion of many accounting literature in the realm of earnings management. Beside, income smoothing reflects the concern to reduce the possibility of fluctuations in income by making a steady flow Research on income smoothing in Indonesia generally examine several factors which are allegedly to motivate management to do income smoothing. They identify the existence of such practices and followed by testing management motivation. The results of these studies have identified those most public companies in Indonesia have conducted income smoothing. All in all, most of the studies are uniform in terms of inferring he end results. Testing the triggering factor of income smoothing policy by the company management has not consistently been recovered. Among the results of such studies are often inconsistent to one another. For example, Kustono (2010) stated that the inconsistency of their findings was caused by the measuring devices. These devices are thought to be unreliable. For example, Index Eckel does not have the ability to capture the practice of income smoothing between periods. In that situation, it shows that some companies are classified by grading only in one particular year.This is considered to have deviated from the definition of income smoothing. The classification based on Eckel index for one company may also change because of changes in the period used to determine t he coefficient of variation. Change of classification shows that the index is not reliable as a tool. In other words, Eckel is as an identifier of smoothing and not merely for smoothing. Kustono (2010) asserted the idea of the need for new instruments. This research is intended to correct weaknesses of the Eckel and construct an index measuring instrument which is more reliable income smoothing factor.This construction is very important because the use of measuring instrument error will cause errors either in the phase of conclusions related to the classification of sample or the determinants and impact of such classification. THEORETICAL FRAMEWORK It is a fact that income smoothing becomes a phenomenon which has been often proved in some previous studies. This practice has been investigated through various levels of different samples. Furthermore, income smoothing is considered to be an important factor. Research by Moses (1987) and Atik & Sensoy (2005) shows that at least 60% of h e sample used in the study can be classified as smoothing the company earnings. Another proponent, such as Barnea et al. (1976) classified accounting income smoothing as inter-temporal smoothing and classification. Inter-temporal smoothing is based on the situation when cost and expenses are recognized and smoothing classification is done with the classification under ordinary cost and extraordinary one in which the ordinary post finally becomes flat. Eckel (1981) distinguishes between income smoothing as a natural smoothing and intended smoothing. Natural smoothing is he alignments resulting from transactions that inherently produce a smoothed earning. In other words, the company's operations to generate income by collecting revenues and expenses are inherently to eliminate fluctuations in income flows. In other words, the process of generating income itself generates a stream of smoothed income. Alignment occurs without the intervention of any party. Income smoothing is accidental ly triggered by the motivation which is based on the management actions. There are two types of income smoothing: intentional, that is income smoothing of the real intention nd the other one is artificial income smoothing. Real income smoothing indicates management actions that seek to control economic conditions that directly affect corporate earnings in the future. In addition, this real income smoothing affects cash flow. On the contrary, artificial income smoothing can show manipulation which is undertaken by management to smooth the earning. Thus, the action of this manipulation resulted in a fundamental or economic condition that can affect cash flow, but shifts 60 Journal of Economics, Business and Accountancy Ventura Accreditation No. 10/DIKTI/Kep/2009 the cost and/or income from one period to another. By taking for granted, such a trend can be traced from several research. Some studies, in fact, have been conducted to identify the smoothing behavior, such as motivation and its impact on future transactions, a company that has been doing income smoothing. This can also be found in other studies such as (Lev & Kunitzky, 1974; Ammihud et al. , 1983, Wang & Williams, 1994; Michelson et al. , 1995; Iniguez & Poveda, 2004). These proponents also provide empirical support toward statement that management reduces he variability of cash flows and earning for the purpose of minimizing the risk of the company. Income smoothing is also intended to increase the value of the firm (Gordon, 1964; Trueman & Titman, 1988; Gibbins et al. , 1990; and Chaney & Lewis, 1995; 1998). Estimator of Income smoothing Income smoothing can only be investigated through some periods by suspecting a certain earning rate of the targeted, e. g. , both highand low-digits earning reports. Some researchers use a two-period model by assuming that the earning target is proportional to the income report in the previous year Copeland, 1968). In other words, the size of alignment is the magnitu de of changes in the earning from one year to the next. Other researchers also evaluated the earning target using multi-period test. The underlying assumption is that it should be an evenly increasing trend (Gordon, 1966). Some of the models used are the exponential model (Dascher and Malcolm, 1970), linear time series models (Barefield and Comiskey, 1972), time trend semi-logaritma (Beidleman, 1973) and model of the market return index (Ronen & Sadan, 1975). For example, Dopuch & Watts (1972) suggest the use ofBox-Jenkins techniques to ensure the alignment model is applicable. Models of earning target are differentiated from the real earning. Often, these models contain errors inherent profit target 61 Volume 14, No. 1, April 2011, pages 59 – 78 because its validity can not be detected empirically. In that case, Ronen & Sadan (1975) suggested that we do income smoothing approach. In particular, income smoothing can be identified if the researcher is faced by the following fo ur questions. 1. What is the object alignment implemented by the management? 2. What is the dimension of management s used to perform smoothing. 3. What instrument of smoothing is used by management 4. What is the object of such smoothing behavior? In connection with the above efforts, Imhoff (1977) and Eckel (1981) developed a methodology based on testing the variability of income associated with the variability of sales. The model used to predict the existence of income smoothing or earnings variation is inter-period variant. They assume that the level of earning depends on the level of sales. The basic idea is that the change in sales can affect the earning. If the variance of income is less than the variance f sales, it can be concluded that the smoothing has been done. Eckel (1981) model of the income smoothing is done by basing on the following premises. 1. Income is a linear function of the sales = sales-cost variable-fixed cost. 2. The ratio of variable costs to sales is in constant currency units 3. Fixed costs are constant or increasing from period to period, but not likely to decline. 4. Gross sales can only be smoothed by real smoothing; gross sales can not be artificially smoothed. Mathematically, Eckel illustrates all the above as the following: when, I=S-VS-FC, and FC;0, and FC t+1 ;=FC t, and 0

Friday, November 8, 2019

Socrates and the Socratic Ethic essays

Socrates and the Socratic Ethic essays Socrates is considered the top philosopher of all time. He has influenced more people in history than anyone other than Jesus. Socrates worked hard throughout his life to try to make people think deeper beyond the everyday thought, to look inside and really ponder on different subjects, none more so than that of moral ethics. Socrates wanted to define what was morally right from wrong. This is what derived the Socratic ethic. It was what Socrates considered to be the way a person should live their life. The thing that set Socrates apart from others, though, was that he stuck to this Socratic ethic so relentlessly that is finally led to his death. At a time when many people would have thrown it out the window to save their life, he was bound to it. Socrates wanted to leave an everlasting mark on mankind, one that has not been forgotten even to this day. Socrates was jailed for reasons he could not get an answer for. He was sentenced to death just because he had bothered and annoyed people too much. There were many that were enlightened by his speeches, but he angered much of the state. I do not totally agree with Socrates decision not to escape in the Crito. He developed this Socratic ethic and proudly stood beside it by fulfilling his duty. He also believed that the quality of life was more important than the quantity (even though he was 70), so if he had lived a high quality life dying would not matter. If I had so strongly believed in something, I would have escaped and fought for what I believed in. Dying for something, and fighting for it so other people do not die in the same way would be my way of fulfilling my duty. Socrates in the Crito is in fact just surrendering to the state by accepting an obviously false indictment plus a much too severe punishment for it. They would have had to run me down and execute me be fore I would hand my life over to any state as long as I was fighting justly for my cause. ...

Tuesday, November 5, 2019

Huck, Tom, and Moral Fiber essays

Huck, Tom, and Moral Fiber essays The Adventures of Huckleberry Finn illustrates two young boys lives as they grow together, then apart. Through their shared experiences Huck and Tom remain friends, but once Huck goes out on his own, their very different experiences lead them to very different lives. Twain suggests moral character is only formed through experience. In the beginning, Huck and Tom are relatively similar in their experience and are typical for boys of their age and civilization. Huck follows Tom a lot because he believes Tom is smart from reading all of his books. Even though Huck follows Tom he is still independent and even rebuts Tom early on in the story. When we was ten foot off Tom whispered to me, and wanted to tie Jim to the tree for fun. But I said no; he might wake and make a disturbance, and then theyd find out I warnt in. Then Tom said he hadnt got candles enough, and he would slip in the kitchen and get some more. I didnt want him to try. I said Jim might wake up and come. But Tom wanted to resk it; so we slid in there and got three candles and Tom laid five cents on the table for pay. (15) From this passage you can conclude that Huck has a mind of his own, he just isnt willing to use it yet. Huck also has the intention of not being sivilized. Huck says that The Widow Douglas she took me for her son, and allowed she would sivilize me; but it was rough living in the house all the time, considering how dismal regular and decent the widow was in all her ways; and so when I couldnt stand it no longer I lit out. (11) Huck still has few ideas about the ways of his society, and already despises being civilized. Although Huck seems to have had these independent characteristics from the beginning, he goes along with Tom time and again because of his lack of experience. Huck desires Tom's companionship on the adventures throughout the book. The first time Huck wishes Tom ...

Sunday, November 3, 2019

Economics of Border Security Essay Example | Topics and Well Written Essays - 1000 words

Economics of Border Security - Essay Example After the implementation, while President Clinton claimed that an economically stronger Mexico was to the benefit of America, the workers found there were fewer jobs, and that they were paid less. Fears of Globalization: In the U.S. certain sectors of industry like the textile industry have been protected, and have got used to this protection. It is these industries that fear the impact of globalization. Conclusion: NAFTA and the European Union are examples of increasing cooperation between nations. This increased cooperation means that economic issues would cease to be an area of concern for border security. The issue of Border security has been a concern for some time in many countries around the world. The threat of cross border terrorism has created an added dimension to these concerns. Security of the border has economic implications in addition. A component of this concern is the entry of people across the porous borders. In the case of the U.S., the major concern has been over people crossing the border from Mexico seeking economic benefits. Such movement of people across the northern border with Canada has not been an area of concern. This is because there is less economic disparity between the two nations. For that same reason, few people cross the border illegally from the U.S. into Canada. Prior to the September 11 terrorist attacks, terrorism did not have a major impact on border security. Border security was made an explicit topic in the U.S. in the report from the National Commission on Terrorist Attacks in 2004, and among other things, it was stated that â€Å"restrictions on crossing US international borders are unlikely to be eased soon and may well be made stricter† (The US 9/11 Commission on Border Control, 2004, Para. 1). Findings of the report were also that in the decade preceding the 9-11 attacks, border security was not seen as a national security issue. The

Friday, November 1, 2019

Nursing mental health Case Study Example | Topics and Well Written Essays - 2000 words

Nursing mental health - Case Study Example I wondered why they wished to meet the physician in this department, as they both "looked" normal to me. I was present in the physician's consulting room when they arrived. He made them comfortable and then slowly ventured to the actual problem. Tim added that Annie was hesitant to go to a physician at first, as she did not think she had any mood swings at all. But Tim persuaded her to just accompany him. The other symptoms were noticed by Tim, and hence he had planned this visit. The physician thought it fit to perform certain medical examinations and selected investigations for Annie, before diagnosing a major depressive disorder. All the above symptoms were the same as that of clinical depression, which Annie might be suffering from, but these tests were necessary to rule out a medical illness. As expected, all the above tests had normal results. So any medical cause was ruled out. All this while, I had been observing Annie. She actually seemed to be just like any other woman you see on the road, but sometimes she suddenly became hyper and had a violent streak in her. I discussed about this with the physician, and I suggested that this case should be referred to a Psychologist. It would be better to handle this case in an interdisciplinary health care team comprising myself, a nurse, a psychologist, an occupational therapist and a social worker, if need be. I checked the schedule of the interdisciplinary team member... I discussed about this with the physician, and I suggested that this case should be referred to a Psychologist. It would be better to handle this case in an interdisciplinary health care team comprising myself, a nurse, a psychologist, an occupational therapist and a social worker, if need be. I checked the schedule of the interdisciplinary team members and requested for a meeting with the psychologist and occupational therapist. I also sent a formal request for a meeting to both the doctors prior to this. I had prepared myself with all the relevant details of Annie's case, and had put down my questions on paper. I carried a file containing the information of the symptoms and physical examination reports of Annie, so that it would be easy for the consultants to decide on the further course of action. (Ackley and Ladwig, 376) The requirement of interdisciplinary medical help was posted to all concerned. All concerned departments were informed officially that there help is needed in dealing with this particular patient. In the meeting, we discussed the possibilities that Annie could be suffering from, in an informal way. At this stage it is important to point out that interdisciplinary care was a must for this patient. As a nurse I had not only to look after the administrative issues but also needed to worry about the patient's health as well as coordinating activities to make sure she got all the right things at right places. (Katz, Carter, Bishop and Krayits, 54) Now we had a resourceful health care team, including the psychologist, occupational therapist and me, a nurse, and all of us were focused on Annie. I handed over the copies of Annie's documents to each one present, so that they could have a reference. The psychologist then