German paper 3+4 Essay Example | Topics and Well Written Essays - 500 words

German paper 3+4 - Essay Example He was consistent with conventional history when he said that after the US joined the war, Germany was defeated. But what conventional history did not say, which he said was that the Germans blamed Zionist Jews for the entry of the US, thus their defeat (Freedman, par.24). This he said was the root of German discrimination against Jews which was indeed justified. If what he said was true, was conventional history then wrong in saying that the Germans at that time were envious of the economic success of Jews? Was it wrong in saying that the Germans were blaming their difficulties on the Jews because the Jews were in control of media and a lot of the industries then? As an aside, Freedman also said that â€Å"Jews happened to be maybe 98 percent of the Communists in Europe at that time† (Freedman, par. 26).† Unbelievable! To fight back, the Jews declared war on Germany (Daily Express, p.1). It called on Jews all over the world to boycott all products made in Germany. Germa ny depended a lot on its exports. By declaring economic and financial war, its aim was to hurt Germany economically, starve its people, and compel Germany â€Å"to end its campaign of violence† against Jews (Daily Express, par. 7).

Auditing process Case Study Example | Topics and Well Written Essays - 2000 words

Auditing process - Case Study Example This type of risk is known as engagement risk. The probabilities of different loss or damages that can be caused due to this type of risk can be a financial loss, loss of reputation, and ultimately leading to the downfall of the audit farm. Engagement risks can further be subdivided into three types of risks, namely 1) Client’s business risks, 2) Auditor’s business risk and 3) Audit risk. In the cited case of Aerospace Lighting Inc. (ALI) there are several audit issues related to engagement risks. All those audit issues involved with ALI and its impact on the financial statements and the audit process have been discussed here. ALI is a Chicago based company which is involved in the business of providing cabin lighting system to its clients in aerospace industry. There has been a change in ALI’s business strategy and its external auditors. This study entails about the different business risks associated with ALI and the corresponding audit issues. Client Business Risks Business risk can be defined as the probability that a given company will make less profit than what has been anticipated or there is a possibility that the company will make a loss instead of profit. Several factors influence business risks, like cost of inputs, volume of sales, price per unit, government policies and so on and so forth. The validity of items in financial statements of a company can be evaluated by an auditor based on certain factors. They are: knowledge of business risks associated with the business activities followed by the client, structure of the organization, internal and external environment of the business concern and the interactions between them (Bell et al. 1). Business risk methodology of audit process includes some of the following key points: 1) Developing an understanding about the process of risk management in the organization. 2) Developing an understanding about the risks involved in the business of the organization. 3) The risks which are i dentified give an idea about its expected impact on the financial statements. 4) Assessment of the control system about how much efficiently it manages risk (Rittenberg 121-123). In ALI’s case, various factors which have an impact on client’s business risks can be subdivided into three headings, namely management, entity and industry. A review of the previous auditor’s report and views of the Chief Financial Officer (CFO) are available and can be used as good audit evidence. CAS 620 relates to the decision of an auditor to use the work of an auditor’s expert. CAS 500 provides the necessary requirements and guidance to auditors regarding audit evidence. Consultant advice is also a good option in this case which is explained in CAS 220 (Financial Reporting & Assurance Standards Canada 1-8). Hence, regarding client’s business risks, following evidences can be considered as being the business risks involved in ALI: 1) Management: Firstly, regarding man agement of ALI, its integrity is the key. Certain evidence that ALI is not loyal to its parent German company named BmG can be inferred from the case. ALI’s management is only concerned about the financial performance of the company. While achieving its financial target, ALI calls for a strategy involving rapid growth of the company. ALI is not concerned much about reporting BmG regarding the means adopted by them to achieve its target. Here lies the business risk in the part of ALI’s management. There is a high probability that ALI can restore to unfair

Basketball as Religion in He Got Game Essay Example | Topics and Well Written Essays - 1250 words - 1

Basketball as Religion in He Got Game - Essay Example After six years since then, Jesus has worked hard to become a brilliant prospective basketball player just at the age of eighteen. Several colleges are interested in him with lucrative offers of scholarship, and making a career with the NBA also remains an option. However, the Governor wants to sign Jesus with his alma mater, the Big State. With his power and influence, he releases Jake on parole for a week. If Jake is able to convince his son Jesus to play for Big State his sentence would be drastically reduced setting him free. Otherwise, he would be sent back to jail. Now an emotional tug of war begins. Jake seeks to convince his estranged son. Martha (Lonette McKee), who is Jesus’ younger sister, wants a better life and suggests his brother to look for more profitable opportunities. Jesus’ girlfriend, Lala (Rosario Dawson) plays a double dealing role in the complex environment with a ‘not so innocent’ approach. The characters like Jesus’ uncle, a unt, coach, etc. appear as both selfish and empathetic in the course of the drama. As Jake returns to his family, Jesus has to confront him and go through emotional ups and downs. On the other hand, he faces the contradictions, glamour, challenges, and dark realities of the multi-billion dollar basketball sports industry of America. At times, he is at the dilemma of horns, but the young athlete is a good-natured son who ultimately seeks reunion and peace with his lonely and troubled father. Basketball craze is a huge factor in the sports culture of American life. It has emerged as a multi-billion dollar business in the American sports industry. Almost all the resourceful and reputed colleges of the country are rivaling each other in order to leave a mark in the various basketball leagues. This helps them to levy high amounts of profits. On the other hand, there is the celebrated NBA, where several

Bethoven and Joseph Haydn's relationship Essay Example | Topics and Well Written Essays - 250 words

Bethoven and Joseph Haydn's relationship - Essay Example Their relationship is said to have become sour and started to decline due to Haydn’s insistence that Beethoven mentions him as his student in one of his composition. Beethoven had a temper and was impatient and this only added to declining their relationship even further than it already was. The success of Haydn’s musical career became a source of envy for Beethoven. All in all, Haydn taught Beethoven very greatly and he contributed greatly to the success of Beethoven’s musical career despite their constant fall out. His constant absence also taught Beethoven to be independent and be confident of his own compositions based on the lessons he had and was receiving from Haydn. In spite of the sour relationship between the student and the tutor, they maintained a cordial relationship and Beethoven also kept in touch with his tutor way after he had stopped becoming his student and it continued that way till Haydn passed away. Haydn also admired his student’s determination and success and was proud of what he had achieved under the numerous tutors including him (Schindler and MacArdle,

Management and Leadership Paper Essay Example | Topics and Well Written Essays - 1750 words - 1

Management and Leadership Paper - Essay Example These activities are a wide array of functions being performed in different shapes. The scope of management is quite broad and it curtails various activities, namely planning organizing, staffing controlling and leading. Individual members are being assigned for it who perform their duties according to the requirement (Kreitner, 2008). Comparison between Management and Leadership: While different units of management can be defined separately, the scope of management quite broader compared to the leadership. Leadership involves only the leading function, management involves various other functions which partly covers the leaders’ roles and responsibilities at the same time. The umbrella of management applies both the personnel involved and the activities undertaken. While personnel enable performing these activities, the resources are worked upon by the man power. Hence the spectrum of management is far wide and broader than the leadership, yet it does not undermine the importa nce of leader and leadership because without it no organization or project can run or survive. Example of a firm in general: Apple Inc is a prime example of successful organization in recent times. It has been brought to this level by its innovative and visionary leader Steve Jobs (Daft & Lane, 2008). It would not be wrong to say that he in modern times delivered and introduced the new forms of leadership that serve as symbol and best example for the modern day challenges and situations an organization is faced with. It is commonly being said that the leader should lead from the front. Be it practical work, be it ideas and innovation, or be it management and strategies. Steve job’s work and practices are commendable in almost all of the above mentioned disciplines of a organization and its projects. He led through his practical example of innovation. This served as motivation for the other members of the team to think out of the box and deliver something unique in their own c apacity. The best contribution a leader can provide to any organization that he or she is associated with can be in form of leading and performing through practical actions. Besides the leadership, Apple Inc has a successful planning and management strategy in place. The roles are clearly defined. So are the objectives, and the tasks that are to be accomplished. Different sections in form of departments within the company work accordingly. It has the research and development unit, it has the marketing unit; it has the scientific exploration unit. In short it has all the components that are needed to make a successful brand. The company also involves a team of members who work on ideas which are new in nature and of help to the organization. In other words keeping a team which thinks ahead of other competitors and makes it to the customers earlier than the rest. Organizing: Organizing is the process of assortment of all the activities in the enterprise. It could be the organizing of the schedules, activities, units, previous reports, or even the items and elements that are being used in daily routine. Staffing: This is another important aspect of the management field. It involves inducting the right kind of man at the right place. It may also involve recruiting and screening the individuals and then determining who fulfils the requirements best. Control: Controlling is an essential component of any project and therefore is ranked in priority activities of the entire management process (Havinal &

Teletech Case Essay Example for Free

Teletech Case Essay Background The Teletech Corporation operated in two business segments: Telecommunications Services (TS), and Products and Systems (PS). Though Teletech was a dominant service provider in the area, the company has been experiencing a downtrend of earning growth and stock prices due to keener competition and worse performance in certain segment. Problems statement Teletech has been using economic profit as a measure of value creation at the segment and business-unit level and net present value as a measure of value creation at the project level; and both these values were calculated using the hurdle rate. The main problem faced by Teletech was that the company leaders had to decide what hurdle rate(s) should be used for evaluating performance and budgeting of each segment; and what would be the future of the PS unit, having in mind the accusatory letter of the new 10% stakeholder, Victor Yossarian. By October 2005 only one corporate hurdle rate of 9. 30% was used for performance assessment, and the rate was based on the Teletech’s WACC as a representation of the opportunity cost of money. There was an ongoing debate if one common corporate hurdle rate should continue be used for valuation, or different hurdle rates which take into account the associated with the investments risk should be implemented. There was a doubt that the returns of the PS segment were relatively high because they were compared to the not risk-adjusted corporate hurdle rate, and that in fact the PS segment was reducing the shareholders’ value. Victor Yossarian’s opinion was that Teletech had to get rid of the PS segment as it was not providing adequate return. Hurdle rates recommendation We recommend that Teletech should use two different hurdle rates for both segments. First, using WACC as a corporate hurdle rate is not appropriate since different segments have different investment risks. The Products and Systems segment (with the beta of 1. 36) clearly had higher risk than Telecommunication services (with the beta of 1. 04). Thus, instead of using one hurdle rate calculated based on the corporate beta of 1. 15, using two rates will allow the returns of the segments to be compared to more suitable risk-adjusted rates. See Exhibit 1) Second, our calculation shows that using two hurdle rates would result in higher economic profits of each segment as well as in total (See Exhibit 3). Higher profit would make company more attractive to investors. Third, using different hurdle rates also would help the assessment of capital-investment proposals more accurate. Since different segment has different risk, when evaluating a project, the firm shoul d classify the project into each segment and use an appropriate hurdle rate of the corresponding segment to calculate NPV of the project. That would make the NPV of the project more precise. For example, the Telecommunications services had lower risk, lower beta, thus it had lower cost of capital. So, if everything else equals, the NPV of a project in the TS segment should be higher than that of the PS segment. This should be reflected in a lower hurdle rate for TS and a higher hurdle rate for PS. PS recommendation We recommend forming PS as separate entity (financially) , considering possible unit reorganization or sale. Our reasoning is: †¢ The PS segment does not provide satisfactory return, although it is shown as profitable when compared to the corporate hurdle rate of 9. 30% (or even with a PS segment hurdle rate see detailed calculation in Exhibit 1 and returns-hurdle rates comparison in Exhibit 2), or in terms of Economic profit (see Exhibit 3). However, the reported high returns are mainly because PS is able to receive low-interest debt based on the higher aggregate corporate rating. However, if the PS segment is organized as a separate entity (with assumed BB rating), then it will need at least 86% equity financing to be break even, assuming that PS 11% ROC will remain constant (see Exhibit 4 for the calculation). †¢ The TS segment will be able to provide higher return; because of the expected A rating and the associated lower loan rates and higher leverage. The TS will have a higher price per share, closer to the industry, as a result of the reduced investment risk (surpassing the risk of higher leverage). Assuming that the company activities are transparent, the price per share could go even higher, as there will not be doubt that a profitable segment of the company will cover the unsatisfactory performance of another segment. Other recommendations We recommend that the company should disclose more information. The view that â€Å"All money is green† and investors do not know as much about the firm’s operations as the company, should be rejected. More transparency would narrow the gap between uninformed (or small) and informed (or large) investors, thereby lowering the cost of capital.

History of the River Nile

History of the River Nile The Nile River At over 4,100 miles long, the Nile River is the largest river in the world. It is located in the northwestern part of Africa. The Nile River flows through many African countries. These countries include Egypt, Sudan, Ethiopia, Uganda, and Burundi. The White and Blue Nile are two extensive channels that feed into the Nile River. The Nile River runs north into the Mediterranean Sea. The Nile River had a major impact on Ancient Egypt and Ancient Egyptians. Around the same time, every year, the Nile would flood. The flooding would happen between June and September. There are two reasons people believed why. One reason was the snow and summer rain would overflow the river. Another reason, or theory consisted of the goddess Isis. Ancient Egyptians believed the Nile would flood because she would cry so much over the death of her husband, Osiris. Out of these two theories, back in Ancient Egypt the most believed one was the snow and summer rain theory. As a result of the flooding, the Nile River provided many sources for the Ancient Egyptians. One of these sources included fertile soil. The soil around the Nile River was very rich, therefore it was good for farmlands. Papyrus, wheat, and flax were the three main crops grown from this rich soil. These weren’t only the main crops, but they were the most important crops grown. The papyrus was used to make sandals, ropes, baskets and paper. Wheat was used for making bread; the flax was used for linen cloth, which was used for clothes. As a result of the rich soil, and the growing of the three crops, the Ancient Egyptians were able to make a living. The Nile was also good for building materials. The flooding of the river provided a black silt. This black mud was used for building homes. The silt was used for many purposes especially for building purposes like walls. The Nile River was also used for transportation. Ancient Egyptians used this a major tradeplace. They used the river for transporting goods and people. The Nile River has three of its own seasons. The first season, which was the season of the flooding was named Akhet. The second season, Peret, which was for growing their crops. Finally, the last season, Shemu, was for harvesting. Each season has it own special purpose, just like the seasons we have today. The calendars that the Ancient Egyptians used were created around these three seasons. The Ancient Egyptians divided the calendars they used up into these three seasons. The Ancient Egyptians divided the calendars they used up into these three seasons. In ancient Egypt there was a god for just about everything. Hapi was the god for the Nile River. Hapi was often depicted with women breasts and a bulging belly, even though Hapi was a male. The breasts and belly portrayed fertility, the ability to produce young. That contradicts with with his capability to sustain the land around the Nile when the flooding happened every year. Hapi was also depicted as wearing papyrus plants, which I mentioned before was used a lot around the Nile River. Since the Egyptians believed that Hapi the god of the Nile they would often thank him for the flooding that happened because it provided them with many useful things. As I have mentioned before, the White Nile is one of the two extensive channels that came from the Nile River. The White Nile was larger than the Blue Nile. The White Nile comes from Lake Victoria. Since the White Nile had a longer way to travel it only gave 15% of it’s water to the Nile River. The White Nile gets its name from the color of it. It has a whitish-gray color. The White Nile has this color because of the things that travel throughout it, such as the gray color of sediment that flows with the White Nile. The second extensive channel that comes from the Nile River us the Blue Nile. The Blue Nile originates from Lake Tana, which is found in the highlands of Ethiopia. The Blue and White Nile eventually meet to form the Nile River. Just like the White Nile, the Blue Nile gets its name from its color. The Blue Nile is originally bright blue color. Since the Blue Nile passes through Sudan it picks up sediments as it travels, so the color goes from bright blue to a darker shade of blue. Even though the Blue Nile is smaller than the White Nile it carries 66% of water that flows into the Nile River. Many animals lived in and around the Nile River. Crocodiles were one of the many animals the lived in the Nile River. Birds such as heron, cranes, ibises, ducks, and geese lived around the Nile River. One animal, that many people feared, was the hippopotamus. The hippopotamus was the most powerful animal around the Nile River. Many frogs, fish, and lizards lived in the water. Gazelles, camels, donkeys, cattle, and sheep are some of the animals that lived on the land around the Nile. Today the Nile River isn’t much different that what is was like in ancient Egypt. The land is still a little desolate. The Nile may make up about only 5% of Egypt’s land, but over 95% of the population in Egypt lives around the Nile. Just as it was in Ancient Egypt, the Nile River is still lifeblood of the country. The Nile River is now under control with the flooding. The Aswan Dam helps control the flooding. The winter snow and summer is still the main cause for the Nile’s flooding. Citrus fruits, wheat, sugarcane, and cotton are some of the many crops that farmers grow around the Nile River. Many of the same animals still live in and around the Nile River today. Crocodiles and the birds are some of the animals that live in the Nile. Today, the hippopotamus still lives near the Nile River. Also, the Nile River is used for many things. Hydroelectricity is one of the many things. Dams were built to help generate hydroelectric power; these dams also help with the Nile’s annual flooding. Websites (Sources) http://www.ducksters.com/history/ancient_egypt/geography_nile_river.php http://www.ushistory.org/civ/3a.asp http://resources.woodlands-junior.kent.sch.uk/homework/egypt/nile.htm http://www.egyptianmyths.net/hapi.htm http://theonlyrivernile.weebly.com/the-white-nile.html http://www.sheppardsoftware.com/Africaweb/factfile/africauniquefact2.htm http://www.historyforkids.org/learn/egypt/environment/animals.htm http://animalssafairs.blogspot.com/2012/10/africa-river-horses-hippopotamus-trails.html#.VKsOJpUtBMs http://adventure.howstuffworks.com/nile-river4.htm