Tongoy V. Ca Essay Example

Tongoy V. Ca Essay Facts: This is an action for reconveyance respecting two (2) parcels of land in Bacolod City. The first is Lot No. 397 of the Cadastral Survey of Bacolod, otherwise known as Hacienda Pulo, containing an area of 727,650 square meters and originally registered under Original Certificate of Title No. 2947 in the names of Francisco Tongoy, Jose Tongoy, Ana Tongoy, Teresa Tongoy and Jovita Tongoy in pro-indiviso equal shares. Said co-owners were all children of the late Juan Aniceto Tongoy. The second is Lot No. 1395 of the Cadastral Survey of Bacolod, briefly referred to as Cuaycong property, containing an area of 163,754 square meters, and formerly covered by Original Certificate of Title No. 674 in the name of Basilisa Cuaycong. Of the original registered co-owners of Hacienda Pulo, three died without issue, namely: Jose Tongoy, who died a widower on March 11, 1961; Ama Tongoy, who also died single on February 6, 1957, and Teresa Tongoy who also died single on November 3, 1949. The oth er two registered co-owners, namely, Francisco Tongoy and Jovita Tongoy, were survived by children. Francisco Tongoy, who died on September 15, 1926, had six children; Patricio D. Tongoy and Luis D. Tongoy by the first marriage; Amado P.Tongoy, Ricardo P. Tongoy; Cresenciano P. Tongoy and Norberto P. Tongoy by his second wife Antonina Pabello whom he subsequently married sometime after the birth of their children. For her part, Jovita Tongoy (Jovita Tongoy de Sonora), who died on May 14, 1915, had four children: Mercedes T. Sonora, Juan T. Sonora, Jesus T. Sonora and Trinidad T. Sonora. By the time this case was commenced, the late Francisco Tongoys aforesaid two children by his first marriage, Patricio D. Tongoy and Luis D. Tongoy, have themselves died.It is claimed that Patricio D. Tongoy left three acknowledged natural children named Fernando, Estrella and Salvacion, all surnamed Tongoy. On the other hand, there is no question that Luis D. Tongoy left behind a son, Francisco A. T ongoy, and a surviving spouse, Ma. Rosario Araneta Vda. de Tongoy. On October 15, 1968 finding the existence of an implied trust in favor of plaintiffs, but at the same time holding their action for reconveyance barred by prescription, except in the case of Amado P. Tongoy, Ricardo P.Tongoy, Cresenciano P. Tongoy, and Norberto P. Tongoy, who were adjudged entitled to reconveyance of their corresponding shares in the property left by their father Francisco Tongoy having been excluded therefrom in the partition had during their minority, and not having otherwise signed any deed of transfer over such shares. Issue: Whether or not the conveyance respecting the questioned lots made in favor of Luis D. Tongoy in 1934 and 1935 were conceived pursuant to a trust agreement among the parties Held:The Court considers the evidence of execution of express trust agreement insufficient. Express trust agreement was never mentioned in the plaintiffs pleadings nor its existence asserted during the pr e-trial hearings. The Court finds that there is preponderance of evidence in support of the existence of constructive, implied or tacit trust. The hacienda could have been leased to third persons and the rentals would have been sufficient to liquidate the outstanding obligation in favor of the Philippine National Bank.But the co-owners agreed to give the administration of the property to Atty. Luis D. Tongoy, so that the latter can continue giving support to the Tongoy-Sonora family and at the same time, pay the amortization in favor of the Philippine National Bank, in the same manner that Jose Tongoy did. When the mortgages were constituted, respondents Cresenciano Tongoy and Norberto Tongoy were still minors, while respondent Amado Tongoy became of age on August 19, 1931, and Ricardo Tongoy attained majority age on August 12, 1935.Still, considering that such transfer of the properties in the name of Luis D. Tongoy was made in pursuance of the master plan to save them from foreclo sure, the said respondents were precluded from doing anything to assert their rights. It was only upon failure of the herein petitioner, as administrator and/or successor-in-interest of Luis D. Tongoy, to return the properties that the prescriptive period should begin to run.

Themes Used by Robert Frost Essays

Themes Used by Robert Frost Essays Themes Used by Robert Frost Paper Themes Used by Robert Frost Paper Essay Topic: The Poetry of Robert Frost He is a very quotable writer, which means his way of putting words together is very useful in everyday conversation. Frost was very good at taking small words and giving them and incredibly broad meaning. Robert Frost uses his work to express many types of themes but the most important seems to be his opinion on social and natural environments. Much of Robert Frosts work is focused on worldly events and his beliefs and opinions about them. One issue he is very passionate about is the debate of evolutionism versus creationism. From reading his poems, anyone can conclude that he supports the creationist side of the argument. An example of this is the poem Version. Frost says Like a dumb-dumb bullet/ Did in fact get splattered/ Like a ripe tomato/ Thats how matter mattered. (Frost 427). This statement refers to the Big Bang. The splattered ripe tomato us compared to the initial explosion. When reading this poem many people believe that this is Frosts version of how the world Initially started. Frost is best known for metaphors, paradoxes, and occasional humor In his riding, he is very capable of expressing his opinion on worldly problems in his writing. His fourteen line poem, The Flood shows his audience how he Is capable of doing this. Blood has been harder to dam back than water/ Just when we think we have it Impounded safe/ Behind new barrier walls (and let Is chafe! ) It breaks away in some new kind of slaughter. (Frost 254). This poem refers to Frosts belief on war. He believes war as a monstrous being that humans do not willingly release from Its barrier walls. But bloodless lets Itself loose In a Tidal wave/ That when It has swept y, leaves summits stained. (Frost 255). Frost has a distinctive way of placing the audience Into the story with him. HIS writings are usually set In the Northeast. Frost had a strong appeal for a conservative group of readers, who did not understand or appreciate modernism very well. Frosts poems all seem to have some type of meaning, whether It Is about nature or historic events. Anyone should have been capable of relating to his meanings In his poems. Frost did a great Job of expressing his opinions and beliefs. Frost was one f the great writers this world has come across. Frost, Robert and Althea, Edward. The Poetry of Robert Frost: The Collected Poems, Complete and Unabridged. Henry Holt and Co. 1969. Themes Used by Robert Frost By exegesiss Version. Frost says Like a dumb-dumb bullet/ Did in fact get splattered/ Like a ripe this poem many people believe that this is Frosts version of how the world initially Frost is best known for metaphors, paradoxes, and occasional humor in his writing. His fourteen line poem, The Flood shows his audience how he is capable of eave it impounded safe/ Behind new barrier walls (and let is chafe! / It breaks away He believes war as a monstrous being that humans do not willingly release from its barrier walls. But bloodless lets itself loose in a Tidal wave/ That when it has swept Frost has a distinctive way of placing the audience into the story with him. His writings are usually set in the Northeast. Frost had a strong appeal for a conservative Frosts poems all seem to have some type of meaning, whether it is about nature or historic events. Anyone should have been capable of relating to his meanings in

Autonomous Tennis Ball Picker Robot

Autonomous Tennis Ball Picker Robot The basic purpose of this project is to provide opportunity and benefit to the sports players. They can do more practice in less time with the help of this robot. Various different electronic devices were used to pick the tennis ball or any other ball. It is not so easy for any tennis player to pick a ball lot of times during practice. It affects his practice and time.Autonmous tennis ball picker robot will save the time of a player. He can do more practice in less time. This robot is not only for a tennis player .it is easy to use and cost effective. Our design is not only for tennis, it can also be used in other sports involving balls of similar size. Chapter 1: Introduction: In the tennis and sports equipment market, there are very few advanced electronic devices assisting in the feeding and picking of tennis balls or any other kind of balls. Tennis players do not prefer picking up over five hundred balls after a long day’s worth of drilling, or a baseball player would not enjoy picking up over five hundred baseballs on the ground from batting practice. As a result, our solution is an autonomous ball-picker device that is easy-to-use and cost-effective. Our design can be used for a variety of sports besides tennis, involving balls of similar size and weight. Chapter 2: Literature Review This Chapter is a review of the background material. This includes comparison of previous devices used for same purpose. it also includes the way how this robot is more effective then previous.? Chapter 3: Modeling and Design This Chapter describes the modeling of different parts of our robot. And all the various other Design decisions and selections made throughout the course of the project. Chapter 4: Experimental setup This Chapter describes in detail the techniques used in our robot. It contains the detection of the ball, design of user interface and all other aspects of the project. Chapter 5: Results and Discussion This chapter provides a result of the project i n which the key points of the project are Discussed and any specific conclusions are drawn Chapter 6: Recommendation This chapter is an analysis of the project in terms of overall performance and working. It also contains overview and recommendation of experts Chapter 1 Introduction Professional tennis matches can last upward of 3 hours, often with little more than 10 minute of rest in- Between sets .The need to train for such endurance matches becomes difficult without a partner of Adequate skill. For decades, tennis players have been using automatic tennis ball launching machines to train without the need of a partner. Therefore, it is determined that using current technology, a player will spend ~35%of the total time collecting tennis ball, and not training. This is a large proportion of the time, and needs to be reduced to truly emulate a tennis match. There are certain method of automatically collecting tennis ball ,as will be investigated in section 3 – Proposed Solutio n ,but the e are not portable, and require extensive modification to the tennis court.

International law Essay Example | Topics and Well Written Essays - 3250 words - 1

International law - Essay Example International law sets the limits on and relations between and among states. International law is not a new concept. Keep in mind that rudimentary international law was evident as far back of the fourth millennium B.C, when belligerents consented to observe truces for holidays and other similar situations. Homer\s The Iliad and Thucydides\s The Peloponnesian Wars are abounding with references to armistices, acceptance of heralds in addition to other customary standard behaviour connecting peaceful or warring parties. But is should also be remembered that such references are equally filled with instances of agreements being dishonoured. Modern international law, customary international law being part of it, gradually evolved as states gained status. Denial S Papp1 states that Hugo Grotius is usually taken note of as the father of modern international law with references to his work, On the Law of War and Peace, published in 1662. His publication paved the laying of the foundations of the rights and responsibilities that states are obligated to each other. It is on the writings of Grotius that the entire systems of treaties, tribunals as well as similar codes of international conduct take their extraction. From the readings of Grotius’s publications, at least four separate interpretations of what international law is, exist.2 These include: the naturalist school of law exemplified by Samuel Pefundorf (The Law of Nature and of Nations, 1672); the positivist school of law, led by Cornelius van Bynkershoek (Forum for Ambassadors, 1721 and On Questions of Public Law, 1737); the eclectic school of law led by Emmerich de Vattel (The Law of Nations, 1758) and finally the neorealist outlook. The more general view is that states interpret and adopt whatever view of international law that best shores up the most preferred course of action. There are various sources of international law to which states can tie

Business Law - Case Study Analysis Essay Example | Topics and Well Written Essays - 2500 words

Business Law - Case Study Analysis - Essay Example The opportunity for abuse of exclusion clauses is great, particularly with the advent of standard form contracts, where the terms of contracts are not negotiated, but rather imposed. It is against this background that the law seeks to exercise control over exclusion clauses. Whilst the common law rules do not differentiate between contracts made between businesses and those made between businesses and consumers, the law does recognize the great opportunity for businesses to exploit consumers as seen in Mark’s case. An exclusion clause will only operate if it is a part of the contract. The simplest way in which an exclusion clause may become a term of a contract is if it is a written document which is signed by the parties. In this instance the parties are taken to have assented to the clause. In L’Estrange v Graucob1, the defendant sold to the claimant, Miss L’Estrange, who owned a cafà © in Llandudno, a cigarette slot machine, inserting in the sales agreement the following clause:† Any express or implied condition, statement or warranty, statutory or otherwise, is hereby excluded.† The claimant signed the agreement but did not read the relevant clause, because she thought it was merely an order form, and she sued for breach of what is now s.14(3) of the Sale of goods Act 1979, in respect of the unsatisfactory nature of the machine supplied which often jummed and soon became unusable. â€Å"Where a document contains contractual terms is signed, then in the absence of fraud, or I will add, misrepresentation, the party signing it is bound, and it is wholly immaterial whether he has read the document or not.†2 In Curtis v Chemical Cleaning & Dying Co.3, the claimant took a wedding dress, with beads and sequins to the defendant’s shop for cleaning. She was asked to sign a receipt which contained the following clause:† This article is accepted on condition that the company is not liable for any damage howsoever

The primary target of Tennysons poetry Essay Example for Free

The primary target of Tennysons poetry Essay â€Å"The primary target of Tennyson’s poetry is Victorian greed and materialism. † How far do you agree with this view of Tennyson’s poetry? In your answer you should either refer to two or three poems in detail or range more widely through the whole selection. Tennyson throughout his poetry focuses on greed and materialism when reflecting on the changing times in society and the growing of ‘the work of the days of man’ and the golden age. He does this particularly in ‘Maud’ In ‘Morte D’Arthur’. ‘Maud’ is poem written about a man who loses his father after he is murdered by a business friend . Tennyson uses this as the basis to explore the mental instability of the speaker which he uses to explore other issues such as Victorian greed and materialism. In ‘Maud’ Tennyson undertakes a psychological exploration of the speaker ‘maud’ who seems to have gone mad after losing his father . He focuses on the greed and materialism on how the speaker’s father was unjustly killed by his fellow business partner . He says : ‘ gorged scheme that had left us flaccid and drain’d’ This literally translates as sucked us dry which shows how selfish the business partner was so on the whole reflects society’s greediness . Then Tennyson goes on to criticise the actions of society and you can see this clearly when the speaker talks of how ‘blessings of Peace? ’ have been ‘made into a curse’ by society. This implies to the reader that society has become so corrupt , greedy and selfish that even positive things , ‘blessings’ have been turned into bad things ‘curses’. The speaker muses on how no there are ‘pickpockets’ , ‘each hand lusting for all that is not its own’. There is now so much greediness in society that people want to own what is not theirs. Throughout the Victorian era there was a radical change with the advance of science for example Darwin and his evolution of species which went against Religious beliefs that God created Everything . Tennyson having strong faith in Christianity highlights how this new age ‘the golden age’ despite it’s breakthroughs poses danger to society and humanity through the speaker. The speaker says ‘these are the days of advance , the works of men of mind,’ . Tennyson using satire because he is mocking the idea of the works of men are and can be better than the the works of God and the substation of works ‘of God ’ with ‘of men of mind’ makes this very obvious to the reader.

Process Paper How To Get On Th :: essays research papers

Process Paper: How to get on the net The Internet is a very important tool for communicating, learning, and just surfing. To utilize the capabilities of the “Net'; one must have a phone line, a computer with a modem, and an Internet Service Provider (ISP). Computers can usually be found at any electronic store. The store should also have information on how a local ISP can be found. The Internet Service Provider that you find will give you the essential software needed to connect to the Internet. Once the software is successfully installed, make sure a phone line is hooked up with the computer’s modem. You can do this buy running phone wire from the nearest phone jack to the back of your computer. A modem slot can be found in the back of you computer, and it will usually have “Modem'; written above it. Once the phone line is hooked up, you can enter your computer and start up your web browser. Your web browser icon should say “Internet Explorer,'; “Netscape,'; or “The Internet.'; Once you have located the icon, double click it (click twice with the primary mouse button). This should bring up a “Dial-up Networking'; window with “username'; and “password'; spaces. Type in the username and password that your ISP gave you. As soon as all the data is entered, click the “Connect'; button at the bottom of the window. It should take about one minute before a window pops up with a timer telling you how long you have been connected. This is important so if you have a limited number of hours for the month, you can manage your time connected to the Internet. Now that you are connected, it is possible to take advantage of the Internet’s capabilities. You should start off by going to a search engine: yahoo.com, lycos. com, altavista.com, hotbot.com, and many others. You can start these by going to the file menu, clicking open, and then typing in the address (i.e.

Peregrine Falcon

Introduction: Found among all continents except Antarctica, the Peregrine falcon is a common falcon throughout the globe. When they hunt, they dive from high altitudes and stoop their prey at speeds over 200 miles per hour, making it the fastest animal on the planet. The name â€Å"peregrine† falcon means wanderer and refers to the bird’s long migration path, which has been known to be as far away as 15,500 miles from their original nesting spots. After having a severe drop in Peregrine population during the 1960s and 1970s, this majestic falcon has made a comeback and can be seen throughout many suburban and urban areas of North America. Interesting Facts: * The Peregrine Falcon is on the featured on the Idaho quarter issued in 2007 * Suzuki named the company’s fastest production model, Hayabusa, after the Peregrine Falcon. Hayabusa means Peregrine Falcon in Japanese * Peregrine falcons don’t build nests. They scrape a depression into the soil on the ground or on a ledge, or an abandoned nest that was left behind Map of Region Peregrine Falcon Duck Hawk, Great-Footed Hawk, Wandering Falcon Falco Peregrinus Fact Sheet: * Size: * Body- 14-19 in. * Wingspan- 3. 3-3. 6 ft. * Weight- 18. 8 to 56. 5 oz. * Diet- Starlings, pigeons, blackbirds, jays, shorebirds, waterfowl, bats, and other small mammals * Reproduction: * Number of eggs- 3-4 * Mate once a year * Same partner for life * Nest location- Cliffs or tall buildings * Return to the same spot annually * Name for chicks- eyases * Chicks fledge 42 to 46 days * Time dependent on their parents- Up to 2 months Habitat-All continents except Antarctica * Life span- Up to 17 years Bibliography: * http://www. discoverycove. org/animal-info/animal-bytes/animalia/eumetazoa/coelomates/deuterostomes/chordata/craniata/aves/falconiformes/peregrine-falcon. htm * http://ohiodnr. com/wildlife/dow/falcons/facts. aspx * http://www. raptorresource. org/facts. htm * http://animals. nationalgeographic. com/animals/birds/peregrine-falcon. html * http://www. peregrinef und. org/explore_raptors/falcons/peregrin. html * http://www. allaboutbirds. org/guide/Peregrine_Falcon/lifehistory#at_food

Sustainability of Debt Finance Management

Chief Executive of ICAEW proposed the finding that a more sustainable pattern of British companies are to survive the financial management and learning  with less debt (Malcolm & Edwards, 1998). But whether this finding is convincing is unknown. Evaluation of the debt finance statement is needed to implement in this essay.It is apparent for this essay to focus on two aspects of the comment from ICAEW, one is whether the financial management of UK businesses is experiencing a more sustainable situation and the other is the actual debt development and the development situation of UK businesses. And this essay is going to argue this finding with the framework of literature review, assumptions and financial analysis. This essay is going to pick Tesco Plc for subject of analysis.1.1 Literature review Literature review is helpful to comment the findings from ICAEW about the impact of the sustainable model of financial management on debt conditions of UK businesses. The framework of the l iterature review consists of advantage (importance) and disadvantages (risks) of debt financing and impact factors affecting the debt finance management.The importance of the debt management for the corporations To many entrepreneurial organizations, debt is tempting and is glamorous genre of financing. It is widely accepted that external debt are close companions of external equity, and since the equity is necessary for the entities, debt are indispensable for the companies (Pratt & Morris, 1987). Besides, many advantages are generated from the debt financing of the company. Firstly, debt financing is an efficient leverage tool for shareholders of the companies to produce profits with the help of debt capitals (Ruud, 2012).Although the debt capitals are used at the price of financial interest or costs, namely that it is possible to reduce earnings before tax, shareholders still take this risk to use the debt leverage financial tool to add more value of their capital amount and keep sufficient internal funds available to take advantage of attractive investment opportunities. What is more, debt financing is helpful in reducing agency costs of free cash flows (Michael, 1986).Because agency cost is an eternal paradox in the corporate management, shareholders and managers are playing intra beneficial game with each other. Shareholders want to improve value with as small amount of own capitals as possible and mangers would like to  use safer capitals from shareholders and boost their bonus. Any failure from misuse or inefficient use of capital from shareholders by managers is agency cost and the positive debt finance is a way to balance this situation.Risks of debt financing for the entrepreneurs Even though debt financing is of great advantages and is very important for the entrepreneurs, risks still exist in the debt financing management. The main risk of the debt financing is the high rate of interests from the debt. It is clear that financial costs are mainly from the debt financing and the costs come after the operating interest (Robert, 1974), the number of the costs need to be controlled so that the earnings before tax are positive, namely that the profits are truly generated from proper use of debt.Furthermore, debt financing will place risk on the cash flow management of the companies (Davis, 1995), because the contradiction of the maturity of loan and fluctuation of the operating, investing or financing situation may lead to the breakage of the cash flows. Finally, the defaults from the debt financing the corporations manage may exacerbate the loss of reputation and integrity (Davis, 1995). This reputational loss will deter the chance for the corporations to borrow money.The impact factors of debt managementDebt financing management is influenced by different factors. It may be affected by the scale of the corporations. Generally speaking, it is more comment for small businesses to finance debt for operation (Acs, 1999). Because s mall businesses rather than large scale of businesses have less reputation and competitiveness to attract external equity or equity capital, small entrepreneurs have to turn to help of the financial intermediaries such as commercial banks and lender companies to borrow external capital to back up the operations of the organizations.On the other hand, large companies have privileges to finance capital by capital funding, shareholder investment and stakeholder investment. What is more, debt financing management is close related to the managerial style, or the governance, of the companies. For risk-averse managers, who are prudent in producing profits with safer and cheaper capital, they will prefer to manage finance  by receiving shareholders’ funding rather lenders’ (Amihud & Lev, 1981).1.2 Assumption and argument for this debt financing findings from ICAEW Based on the literature review, it cannot primarily reach the conclusion about the debt and the survival situati on of UK businesses. Before this essay expends the argument of whether the more sustainable model of financial management are currently using by UK business and they are survive with less debt, it is important to set the assumption for the argument. And the assumptions are as follow. The first assumption is that UK businesses discussed in this essay are those running on their track rather the new start-ups or newcomers who are eager in need for external debt or equity.The second assumption is that the capital structure of the UK businesses discussed is operating at least one kind of debt.The third assumption is that the debt change (accent or decent) are not caused by the managerial style or the scale of the corporations.1.3 Financial ratio analysis for the debt financing situation of the chosen listed company1.3.1 Debt financing performance According to the assumption preset above, this essay choose the listed company Tesco Plc in UK to testify the comment of ICAEW. Calculation and explanation of relevant ratios over a five-year period will be presented as follow. Referring to the long-term liabilities, the absolute number of long-term liabilities experiences a big rocket and a fluctuation from 2008 to 2012. Long-term liabilities in 2008 were  £5,972 million in 2008 and rose by more than one times to  £12,391 in 2009 than in 2008. Although the absolute number of long-term liabilities dropped a little in 2010, they increased to  £12,731 in 2012.When it comes to the short-term and long-term debt, they showed a consecutive up and down from 2008 to 2012 (See appendix two). One of the very important aspects of detecting debt financing situation of a certain company of UK is the average debt/asset ratio (Allen & Gregory, 2003). This ratio of can show the ability of debt to making  contribution to adding assets. From appendix one, although a slight rise of 2.36% occurred in 2009, a decent trend of average debt/asset ratio is irresistible from 52.82% in 2008 to 46.23% in 2012. The situation imply the decreasing trend of debt financing in the whole system though the absolute value of the debt is in a growth Another method for evaluating the debt financing is to assess the liquidity ratio of the target company.This is a method to assess the short-term debt of Tesco Plc (Gombola, 1983). From the liquidity ratios such as current ratio, acid test ratio and operating cash flows to maturing obligations, a lot of insight can be incorporated into the present cash solvency of the firm and the firm’s ability to remain solvent in the event of adversity. Firstly, the current ratio presents the degree of current assets covering the current liabilities. It was interesting to see from 2008 to 2012 the current ratios of Tesco Plc first increased by 29.57% and kept decreasing by 5.97%, 4.55% and 1.23% in the consecutive three years, but the current ratios were in a growth in the whole picture from 0.58 to 0.67. The situation implies that the syste matic risks of covering the short-term debt are decreasing.Acid test ratio illustrates the liquidity excluding inventory. The acid test ratio of Tesco Plc experienced a drop variation trend from 0.35 to 0.48 by an accent of 53.26%.But it cannot disprove the endeavor made by Tesco Plc to decrease acid test ratio consecutively from 2009 to 2012. The other financial ratio for testifying the long-term debt situation is the ratio of financial gearing. Financial Gearing is the ratio presenting the efficiency of using debt to generate profits. Financial Gearing includes debt equity ratio or leverage (D/E), and interest coverage ratio (Harrington, 2004). Debt equity ratio or leverage (D/E) demonstrates the same development details as the liquidity ratios do. Tesco Plc increased from 0.50 to 0.77 by 70.35% (first increased by 90.03% in 2009 then decreased from 2010 to 2012 in a row).The original soar in D/E may results from the overestimated optimism for the economic environment and over bor row long-term debt, and it takes time to lower the high percentage of debt. On the other hand, interest coverage ratio illustrates the coverage of earnings before interests and taxes to financial interests. From 2008 to 2012, the interest ratio of Tesco Plc dropped from 11.16 to 9.20 and it seems Tesco Plc has less competitive ability to cope with interest costs from debt financing. However, after the two-year decrease in this ratio,  interest coverage ratio rise by more than 20% in two consecutive years from 2011 to 2012.1.3.2 Operation performance But even the debt financial level is decreasing from the financial analysis above, it is important to evaluate whether Tesco Plc has better survive with less debt. So the assessments of the profitability of profitability, efficiency and shareholders situation of Tesco Plc are necessary (Cunningham, 1995). In the aspect of profitability, ROE of Tesco Plc was experiencing a fluctuation from 2008 to 2012. Tesco Plc decrease from 18.08% in 2008 to 15.85% in 2012 by 12.61%. During the 2010 to 2011 duration, Tesco Plc had risen by 0.93% in the ratio of ROE, however, this increase could not turn around the decent situation. Return on capital employed of Tesco Plc experienced a similar fluctuated decreasing rate (similar with ROE) from 15.69% in 2008 to 12.17% in 2012.From the perspective of efficiency ratios, they are ratios measurement of the effectiveness of assets performance of the Tesco Plc (Fraser, 2004). Efficiency ratios includes inventory turnover (days) and creditors' turnover (days). Inventory turnover present the efficiency of Tesco Plc to manage the inventory. As can be seen from Appendixes, the numbers of days for Tesco Plc increased from 20.31 days to 22.15 days by a rate of 9.41%, namely that Tesco Plc performed more slowly than before (circulating the same number of stocks with more time). When it comes to another efficiency ratio, debtors’ turnover (days), demonstrates the average number of days for which receivables are outstanding before retrieve.The debtors’ turnover for Tesco Plc increased from 10.12 days to 15.03 days by a rate of 42.63%. And it turned out that the debtors’ turnover of Sainsbury Plc was circulated from every 4.22 days in 2008 to 4.68 days in 2012. The situation of Shareholder can be assessed by the dividend per share, dividend payout ratio, earnings per share and operating cash flow per share. Dividend per share presents a different development trend for Tesco Plc. The dividend per share rose from 0.08 in 2008 to 0.10 in 2012 by 29.78%. Similarly, EP of Tesco Plc demonstrated an increase of 27.66% from 0.27 to 0.33 and dividend payout ratio of Tesco increased by 2.41% (0.28 to 0.29).1.3.3 Systematic debt financing performance Based on the financial analysis on both debt financing and operations, systematic debt financing is semi-match the opinion of ICAEW. Firstly, the ability of coping with short-term and long-term debt is more competit ive even though the total volume of debt is increasing. But this is not â€Å"less debt† as the saying goes in the opinion of ICAEW. Secondly, even though the â€Å"less debt† refers to more competitive ability to handle debt, the operations of profitability and assets ability are still failed to improve or say few evidence can prove the company with less debt can better survive. Thirdly, the improvement in shareholders situation is one symbol that implies better survival of Tesco Plc but the paradox between profitability and shareholders is need to further explained. In addition, as the forth point, policies are connective with the coping ability with debt. From 2010 to 2012, Tesco Plc procurement policy provides robust and consistent debt selection.Conclusion In conclusion, debt financing plays an important part in organizations but it also hide risks when corporations employ this tool. But doubts arise from the opinion that UK businesses can survive with less debt p ublished by ICAEW. After the analysis of financial ratios on debt and operations performance in Tesco Plc among UK businesses from the consecutive five years based on the assumptions, this essay cannot get the conclusive conclusion about the relations of survival and less debt. But if debt financing here refers to the improve ability to cope with debt rather volume of debt, it may be concluded that some of the UK companies at least Tesco had worse-off profitability and efficiency with less debt. And whether the sustainability model of debts financing in UK is sustainable is needed to be further explained.Question 2 Evaluate the role of finance director in an organization Introduction Financial director, as another name of CFO (Chief Financial Officer), is the main character in the organization to control the financial situation. Since the financial director wears the critical responsibility, it is meaningful to find out what kind of responsibilities or roles are for financial direct or. This essay focuses on exploring the roles of financial director from aspects of literature review and the scenario (Tesco Plc) comparison between different kinds of job roles, and what kind of sources, or information, or evidence in the financial report can prove the described roles above.2.1 Literature review of roles of finance director Financial director is an important role in the system of management in an organization and scholars in the academic or industry has many researches into the topic about financial director. And the framework this essay establishes is a reorganization of the theoretical and practical pinions on financial director.Compiling financial reports A competitive financial director is like a doctor who is engaged in safeguarding the healthiness of financial situation of the organizations (Michael, 1999). This safeguard role is quite different from other related financial occupations, since the largest financial burden is laid on the shoulder of finance di rector. Although financial director lead a team to perform the job about financial reports, he fulfills the solo responsibility of the accuracy of the financial reports (Roles of finance directors, 2013). During the financial work performance, finance director has to manage a financial team as well. And finance director act as the company's treasurer to keep the accuracy of the financial results, because one mistake is a mile in many aspects, such as capital structure, earnings per share or EBIT.Perform analysis on financial reports There is too much information in the financial reports and some of the information is hard to understand without translation. Financial director uses financial and non-financial ratios or conclusive and simple information, which other managers, shareholders and stake holders need, to present the key information of the financial situation of the organization (Keith &Falshaw, 1999).Besides the interpretation of the financial reports,  finance director de tects problems through the horizontal and vertical analysis on the financial reports in order to figure out approaches to achieve the perfect financial condition and try endeavors to maximize profitability. After the financial analysis on the financial report, financial director proposes an analysis report on historical data, positions the financial goals and objectives, and make the prospective strategy for the organization.Help operating the company and make the prospective strategy for the companyFinancial director not just theoretically analyze or improve the financial situation using the historical data from consecutive financial reports (Grant, Roman & Sidney, 2014). He incorporates the financial information into financial operation in the company. Overseeing payroll activity for staff and participants in order to avoid fraud; monitoring the banking activities of the organization to ensure sufficient liquidity to meet daily needs; Investigating cost-effective production approa ches in the production line. Besides the internal financial events, he represents the company to meet government in order to control the rhythm of the tax payment or government funding. What is more, he also takes an informative and advice supportive part in marking, operation, financing and investment decision making.2.2 Roles of finance director of Tesco Plc and comparison of other job advents 2.2.1The evaluation of roles of financial director of Tesco Plc Laurie McIlwee has been taking the position of Chief Financial Officer (Finance director) of Tesco Plc since 27 January 2009. As a Fellow of Chartered Institute of Management Accountants and a member of The Hundred Group of Finance Directors, Laurie McIlwee has experienced years of finance director responsibility in Tesco UK and Pepsico. His horizontal international finance management is impressive. But it is important evaluate whether he meet the roles of the financial director while working in Tesco Plc.Ordinary Financial enga gement Besides composing the financial statements and financial reports for the board of directors and shareholders, Laurie McIlwee is responsible for utilizing financial and non-financial ratios to analyze the historical data from 2010 to 2012 (Financial Report, 2012) and select key ratios, present then as clear graph and report them in the financial report in order to keep the financial reports usable for the users.He also monitors any external financial issues, such as relationship with government and tax bureau. And He is responsible for establishing and maintaining a strong working relationship with outside consultants, bank representatives and insurance and bonding representatives. What is more, Laurie McIlwee affects the continued operation of the company by positioning the financial boosting strategy in the foreseeable future. His duties also include managing, maintain and forecasting the company's cash requirements and cash flow. He also reviews and signs all financial repo rts, tax returns and audit reports.Financial Team Management Laurie McIlwee is of course unlikely to cope with the actual receipt of income or the paying of bills in person, he wisely leads a team on all kinds of financial jobs (Financial Report, 2012). The chief finance officer Laurie McIlwee oversees all accounting personnel within the financial team.His mentor and develop the accounting team and manage their tasks and processes, training and performance evaluation He regulations to ensure compliance with current and future Management Accountants Society of practices and procedures to govern the financial director of an appropriate internal control safeguards and requirements Hundred Group Business Development and Strategy DutiesThe CFO Laurie McIlwee directs financial strategy, including borrowing and investment strategies (Financial Report, 2012). He also establishes and monitors budget planning and forecasts. He works with CMO, COO and the heads from other department. Finance i s expected to incorporate other strategic objectives. In order to meet their specific objectives closely with vice president of information technology, development tools, and the president and providing important financial and operational information systems to CEO.2.2.2 Other jobs advents for comparison CEO Philip Clarke is the CEO of Tesco Plc for more than 3years until today. He is mainly responsible for developing company goals (Financial Report, 2012). He formulated the objectives, designed the progress to achieve these goals. In determining the direction of the company in the process, he defined the specific market, observe competitors and determine how the company will come to the fore.In addition, Philip Clarke build a competitive team to assist him in the operation of Tesco Plc. Philip Clark uses the best part of the individual team and solve the senior team and the members of the corporate culture differences between a company's values through the establishment. Setting bu dget is an important role of the CEO, the CEO is only when the budget is set for a certain strategy, CFO or Finance Director may adjust the budget implementation plan. Finally, CEO Philip Clarke have functional public relations. Under many circumstances, it is CEO that pre builds the client relationship before CMO can keep the continuous relationship with the client.CMO Min Mason is the CMO of Tesco Plc. His job is different from finance director Laurie Mcllwee and CEO Philip Clarke. He launches research and development in order to determine the potential need for a product or service based on current market demand (Financial Report, 2012). Moreover, he cooperate with Lanrie Mcllwee to make an available financial R & D budget. Secondly, Mim Mason is responsible for making promotion strategies by managing the overall marketing and advertising campaign and analyzing effectiveness of a campaign and what types of modifications. For example, the promotion of â€Å"Everyday Big sale† in Tesco Plc designed specifically for women and let them feel satisfactory. Min Mason has to manage not only public relations, but also the three aspects mentionedCOO Kevin Grace is a COO in Tesco. He was the main contact with the other officers of the Board. Kevin Grace manages the daily functions of the company, reporting to the CEO and the board regarding the company needs or  performance, make a final decision in many daily problems (Financial Report, 2012). If a company could find a COO like Kevin Grace who is a reliable manager, COO can become into the role of CEO in situations where the board realizes that a current CEO will be retirement. In addition, the role of the COO has been changed. COO need to learn the CEO position. COO becomes an alternate, not a partner. The responsibilities of COO will begin to take on the role of the CEO over time. When Kevin Grace stepped down as South Korea, he was promoted to be the CEO of Poland and UK Property Director.2.3 Effective ev aluation of availability of sources of information All the role information is truly comes from the 2012 Tesco Plc annual report, and it is presented dispersively in the financial report. With the evidence of financial statements, notes of financial statements, clear graph, convincing declarations from the board of directors, the truth and effectiveness can be proven to support the role evaluation of the roles of different directors (Financial Report, 2012). ConclusionIn conclusion, this essay centers on the role evaluation of finance director by demonstrating literature reviewing, citing roles of finance director in Tesco Plc, comparing the roles of finance directors and CEO, CMO and COO in Tesco Plc, and evaluating the effectiveness of evident used to citing examples. Question 3Evaluation for the usefulness of budgeting and budgetary control in Tesco Plc Introduction A budgeting control is a mechanism assisting senior managers in setting the adequate spending limits. It is importa nt since risks of expenditure exceeding from the potential budget are what corporation cannot bear and the risks will have an unfavorable impact on corporate profits. So in order to count on the importance to focus on the budgetary control, this essay is going to throw literature control in the budgetary control to see what accomplishment that scholars achieve in this field, and introduce the empirical example of implementing budgetary control in a corporation by citing Tesco Plc.3.1 Literature review in budgetary control Scholars in academic field have been doing many researches in the field of budgetary control. They refer the budget control to almost all aspects in the business operation. But after reorganization, this essay reframes the outline of the literature review in budgetary control. Businesses of different kind of scales require different kinds of basic financial concerns and monetary limits in order to keep cost-effective efficiency. Budgetary control is indispensable i n the business operation. Cost controllingThe main objective of budget control is to control the cost. Capitals are limited in one organization (Ariratana, Treputtarat & Tang, 2013). Smart and appropriate cost of using is good for cost-effectiveness to save. Through the full use of the capital budget, managers take effective measures to save money. The definition of the budget is a list of intended or expected expenditures of money and proposed to satisfy these expenditures. By presenting the amount of money that will be used for different projects to satisfy different strategy, the managers can handle different assignment with an elastic budget boundary, because decision-makers can see exactly what they are spending their capital on.Perspective planning Budgetary control can lead a perspective planning in the business. It is indispensible in the management style of making strategy based on the limited capital or the style of organizing capitals for budget for the decisive planning (Dariya & Klaus, 2013). All businesses have the requirement to balance its short-term expenditures with savings and investments that they can use enough jetton to meet the long-term developmental expand or take advantage of special opportunities. Budgetary management is designed with the changeable need from business opportunities coverage and allows a business to monitor necessary spending along with the capital and earnings in order to generate positive profits. Financial statement compilingBudgetary control serves a significant practical role by assisting accountants and auditors to compile financial reports for report users. For the reports in internal use within the organization, budgetary controlling can provide information of costs controlling, strategy positioning and internal operation (David, 1998). For the reports use by publicity such as regulators, industry analysts, stockholders and investors, budget controlling presents the comparison of the original planning of the l imited capital and the ability for the business to implement actions to spend money and achieve the original goals. The budget controlling is also important in helping managers to handle the corporate profits and corporate cash flows.Business success evaluation Budgetary control gives comprehensive evaluation of the availability of and the success of specific efforts in the businesses (Yanwu & Fei-Yue, 2014). In other words, the link of budget control reflect the input and output in the changing business activities, such as staff training. However, if the future budget show that due to the employees’ mistake, training programs and its cost recovery issues more significant decline would be reasonable. Similarly, if the new forms of consumption can have a negative impression of the future budget, it will be eliminated, maybe it is good to use with similar goals.3.2 Budgetary control in Tesco Plc This paragraph is going to evaluate the usefulness of budgeting and budgetary contr ol in Tesco PlcUse budgetary controlling tools as policy document Firstly, Tesco Plc smartly uses the budgetary controlling as a policy document to protect important projects. The importance of a budget used as part of policy considerations is to generate enough capital for profitable but vulnerable projects. According to the announcement in early 2012, Tesco Plc plans to substantially increase investment in the shopping trip – particularly in the UK with a limited and special budget.On the one hand, Tesco Plc anticipate minimal Group trading profit growth for the year 2012, namely that Tesco has considered the possible opportunity costs in the budget when implementing the project. On the other hand, Tesco Plc reduces levels of old capital expenditure when it modifies its policy of expansion.  To further protect the project, Tesco Plc establishes another policy that no bonus will be paid to Executives unless performance is greater than budget, representing year-on-year grow th in profit.Financial awareness Budget Control provides financial awareness of business expenses and income. In the case of Tesco Plc, it needs to take into account tax expenses, thus setting the budget report. When a new tax resolution passed by Congress, which adjust their tax budget accordingly. The budget outline shows the number of business from sales and additional revenue in one month. It shows how much companies spend on operating costs even as revenue. Operational budget should also display a given assets and liabilities Tesco plc in the current time. This reveals whether a company's financial position is positive or negative. Tesco's financial situation reveals the budget showed that the business is profitable or create monthly debt.Business Opportunities One advantage of having a financial budget for Tesco Plc is to recognize opportunities that can help market and expand the business. The budget reveals the amount of profit the business can put aside each month. Tesco Pl c uses the profit to expand the business and market it in new ways by attending conferences and joining marketing campaigns with larger businesses. Informing the funding available can help the business owner plan ahead and market the business in new and creative ways.For example, Tesco Plc did researches in 2012 and found out the challenging year for consumers in many of Tesco Plc markets are suffering tight budget in household management by inflation, austerity and high fuel price. That would possibly reduce the enthusiasm of consuming in Tesco Plc. But considering the tight budget Tesco Plc also is facing, Tesco Plc transfers to the international businesses and performed this switch strongly. Thanks for the wise business opportunities, Tesco Plc delivers an 18% increase in profits, which helped to compensate for the reduction in trading profit in the UK.Communication Tool Through monthly, half-yearly financial budget statements or reports budgetary  control tools communicative a cts each year. When held for budgetary control will be discussed from time to time to collect the director, directors can share the latest ideas and mentality, improve the efficiency of the method and the target budget. With the discussing, budget is essentially a communication tool, because it shows how the enterprise works and how the smart money used.Budgets are discussed in Board, Executive Committee of Tesco Plc regularly and the risk management proposal will be shared in order to improving the efficiency of budgeting. In order to control the budget better, All business sectors in Tesco Plc has stretched the budget based on the Balanced Scorecard and KPI's steering system and performance indicators are monitored on an ongoing and regular basis to the BoardFinancial planning Tesco Plc implements regular review of strategy, risks and financial performance by Board and Executive Committee, with external advice as required and makes consistent operational plans and budgets develope d throughout the Group to ensure delivery. What is more, Broad of directors in Tesco Plc approves the budget and long-term plan for the Group. The budget controlling reveals the assets and liabilities in Tesco Plc so that it can have better evaluation of itself when making business decision. Budget controlling can help Tesco Plc create a financial plan as mentioned above so the liabilities can be addressed before the debt becomes uncontrollable.ConclusionIn conclusion, budgeting control is really important in the aspect of costs controlling, perspective planning, financial statement compiling, and business success evaluation according to the literature reviewing. After citing the example of Tesco Plc, further information about budget controlling containing Use budgetary controlling tools as policy document, financial awareness, business opportunities, communication tool and financial planning.

List of Free Online Public Schools for Utah Students

List of Free Online Public Schools for Utah Students Utah offers resident students the opportunity to take online public school courses for free. Below is a list of no-cost online schools currently serving elementary and high school students in Utah. In order to qualify for the list, schools must meet the following qualifications: classes must be available completely online, they must offer services to state residents, and they must be funded by the government. Virtual schools listed may be charter schools, state-wide public programs, or private programs that receive government funding. List of Utah Online Charter Schools and Online Public Schools Utah Electronic High School (off-site link)Utah Virtual Academy (off-site link) About Online Charter Schools and Online Public Schools Many states now offer tuition-free online schools for resident students under a certain age (often 21). Most virtual schools are charter schools; they receive government funding and are run by a private organization. Online charter schools are subject to fewer restrictions than traditional schools. However, they are reviewed regularly and must continue to meet state standards. Some states also offer their own online public schools. These virtual programs generally operate from a state office or a school district. State-wide public school programs vary. Some online public schools offer a limited number of remedial or advanced courses not available in brick-and-mortar public school campuses. Others offer full online diploma programs. A few states choose to fund â€Å"seats† for students in private online schools. The number of available seats may be limited and students are usually asked to apply through their public school guidance counselor. (See also: 4 Types of Online High Schools). Choosing a Utah Online Public School When choosing an online public school, look for an established program that is regionally accredited and has a track record of success. Be wary of new schools that are disorganized, are unaccredited, or have been the subject of public scrutiny. For more suggestions on evaluating virtual schools see: How to Choose an Online High School.

Learning Journal Essay Example | Topics and Well Written Essays - 2000 words

Learning Journal - Essay Example Curriculum can be used for both individual courses as well as for the whole overall course being offered. Students present at high school and college level do have a certain degree of choice for pursing the education they like. They have an individual curriculum that guides them in specializing in a specific field or attaining a certain degree. At times in high school a course is segregated into different courses that would then help the children in gaining certain degrees or diplomas. Curriculum in some schools is specially designed for students who are willing to work in fields like trading etc. after they are finished with their schooling. When students are following a specific course for studying, then the school usually offers them the certifications in courses like construction or secretarial skills (What is Curriculum?, 2013). Goals are considered to be the benchmark of expectations for the purpose of teaching and learning. They are often designed specifically to form a sequence or some skills that are needed to be addressed Curriculum can often be specifically used for defining objectives, goals or plans. It is something that is distinctive from the perspective of material, methods and assessment. All the discussed components are quite essential for the learning of the individual, although each of these components may include some hidden barriers that may undermine the efforts of the student in becoming a master learner. While designing curriculum each of the discussed components must be considered as an important piece. These guidelines of designing curriculum can be applied while designing the general education curriculum. Keeping in mind the essential components the curriculum must be designed in a way that it should meet the needs of most of the students, even the ones with any sort of disability. A curriculum usually comprises of content,

Sexism at Work Place Essay Example | Topics and Well Written Essays - 1000 words

Sexism at Work Place - Essay Example Women were also not allowed to work with men. Household work and rearing children were the only jobs of females. This was all changed by the industrial revolution of in the early 20th century. Because of need for labor women had to abandon their conventional walk of life and they had to work in factories and industries to make goods. This played a great role in the emancipation of women. After that as a result of series of struggle through feminist movements in 1950s and 60s women were finally liberated. Today women are in a much better condition. But still this emancipation has not fully come and in many walks of life women still today face discrimination. Work places are especially prone to sexism against female and not much attention is given to this issue. This will be the topic of discussion in this essay and we will attempt to highlight issues women face in the work place. Discrimination against Women at Work Place Women today face many issues at the work place. They are not tr eated equally to men and pay structure is also not the same. The problem is that women are not considered to be treated equally to men. They are mostly given secretary and low level jobs, and chances to promotions are very rare. Young women are usually expected to deliver coffee and do petty jobs regardless of their job status, and they are similar to ‘dolls’ for their bosses (Bennett, Ellison, & Ball. 2010). This causes them a lot of problem. Women who suffer from prejudice at work place do not speak much about it out of embarrassment. Also most of them need the jobs so it is not possible for them to risk their jobs. They are left with no choice but to accept this attitude at the work place. If they will not comply by the ‘norms’ then their jobs will be at risk. This is why sexism prevails in the society and at work places. The pay ratio of women is also an example of how blatant sexism has taken over the work places of today. The women receive significant ly less pay than for the same services they give in offices. Females MBA holders earn $4600 less than male MBAs annually (Bennett, Ellison, & Ball. 2010). The reason for this divide in income is only negative attitude towards women. Lower pay scale of women usually discourages them from working. Women who are need of money still work at these lower rates without raising their voices. Lower pay scale for women makes no sense simply because women can work as much as men. Their productivity is similar to men. Nowadays jobs are not like older times when people had to do physical work. Women in offices have nothing to do directly with their physical strength. Rather it is the power of the mind that is important today and women are equally able as men to do their job. So this difference in pay has no rational justification. Wal-Mart is one example of an employer that is blatant in its discrimination against women. It is a practice for the company not to hire women and deny them promotions (Al Norman, 2010). The fact that, a company as big as Wal-Mart can also discriminate against women, is not understandable. But this is happening in this modern world and there is no hope of any improvement. It is because of these big companies that issue of sexism at work place is not discussed in media very often. It is important to understand the reason behind this mentality. It is the old thinking that because women are not as strong physically as men they cannot be treated equally to men. Women were first subjugated by clerics and then by statesmen. And this tradition is continuing now because the attitude of the society in general has not changed regarding women. They are still considered weak and inferior beings that