Islamic Law - Free Essay Example

Sample details Pages: 7 Words: 2141 Downloads: 1 Date added: 2017/06/26 Category Law Essay Type Narrative essay Tags: Act Essay Islam Essay Did you like this example? Paternity under Islamic Law The paternity of a child can be established through marriage, acknowledgement and evidence under the Islamic law in Malaysia. Paternity of a child should be established in order to determine his or her status as a legitimate child or an illegitimate child. Thus, when a child is born, it is important that his legitimacy is assured so that his rights such as right to maintenance, custody and inheritance can be established. Don’t waste time! Our writers will create an original "Islamic Law" essay for you Create order The provision for legitimacy of a child can be found in the Islamic Family Law (Federal Territories) Act 1984 (IFLA). First of all, the paternity of a child can be determined through marriage. All elements of marriage must be fulfilled and most importantly, the marriage must be valid. There must also be consummation of marriage for legitimacy of a child to be fully established. The paternity of a child should not be determined through the resemblance of physical features between the husband and the child. The Shafii school of thoughts and s 110 of IFLA[1] provided that where a child is born to a woman who is married to her husband after six months from the date of marriage or within 4 years after the dissolution of marriage and the mother having not remarried, the paternity of the child is belongs to the husband. The paternity of a child will not be established in the man if the child is born within the six months period of the marriage. The husband may either by way of lian to disclaim the child if he strongly believes that the child does not belong to him or he may allege that the child is his and but is not as the result of fornication. The jurists of the Islamic Jurisprudence interpreted the six months period from their understanding based on surah 46: 15 and surah 31:14 of the Holy Quran. Surah 46:15 stated that à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦the carrying of the child to his weaning is a period of thirty monthsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚  while surah 31:14 stated that à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦in travail upon travail did his mother bear him, and in years twain was his weaningà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚  Hence, by subtracting the two years which is equivalent to 24 months as stated in the second verse from 30 months which is stated in the first verse, the jurists get 6 months which is the minimum period for a baby to be delivered out from his or her motherà ¢Ã¢â€š ¬Ã¢â€ž ¢s womb. In Salim v Masiah,[2] the respondent and appellant were married on 6 October 1968 and divorced on 19 November 1968. The child, Maimon was subsequently born on 2 June 1969. The respondent claimed for the maintenance for her child while the appellants alleged that the respondent was already pregnant at the time of marriage. The Kadi gave judgment in favour of the wife and stated that the child was born after six months after their marriage. The appeal was dismissed subsequently. In instances where a woman remarries and subsequently gives birth to a child within the period of six months of remarriage, the childà ¢Ã¢â€š ¬Ã¢â€ž ¢s paternity is as of the first husband. The child will only be ascribed to the second husband if the woman gives birth to the child after the period of six months from the time of consummate with the second husband. Where the husband had accused the wife of fornication or zina, the husband must bring in 4 witnesses and if he fails to do so, he must take the oaths as prescribed in surah 24:6-7 as stated in the Q uran. If the wife denied the accusation, she must also take the oaths as prescribed in surah 24:8-9 of the Quran. As a result of such oath, the woman will not be subjected to zina punishment and the child will be legally fatherless. The child will have no right to inherit any estate of the father and vice versa. S 111[3] stated that the paternity of the child shall not be affiliated in the man where a child is born more than 4 years after the dissolution of marriage unless he or his heirs alleged that the child belongs to him. S 112[4] described that where a woman, not having remarried, upon completion of her iddah period and subsequently give birth to a child, the paternity of the child should not be affiliated to her husband unless the child was born less than four years from the date of the termination of their marriage. S113[5] provide the child which is born as a result of syubhah intercourse will not be considered as illegitimate child but instead the childà ¢Ã¢â€š ¬Ã¢â €ž ¢s paternity shall be affiliated to the man. Syubhah intercourse is the sexual intercourse between a man and a woman whom both of them believe that they are lawfully married and lawfully declared as husband and wife which is later proven otherwise. The child shall remain legitimate if the woman had give birth to the child between the periods of six months to four years after the intercourse. Secondly, the paternity of a child may also be determined through acknowledgement. S114[6] provides that when a man had either expressly or impliedly acknowledges another as his lawful child, the paternity of the child shall be established in the man. However, there are 7 conditions that need to be fulfilled by the man in order to declare that the child indeed belong to him. First, there should be no other people that had established the childà ¢Ã¢â€š ¬Ã¢â€ž ¢s paternity in him. This means that there should be no one else other than him that claims the child was theirs. Second, the age of the man and the child are such that filial relationship is possible between them. For example, there should be a difference of at least 15 years of age gap between the father and the child. If the age gap is narrow, it is possible that the child will disrespect the father or treated him as his brother. Thus, bigger large gap is important to establish the respect and filial between the father and child. Third, if the child is of discreet age of understanding the nature and surrounding circumstance, he should has acquiesced or agree with the acknowledgement. The child must agree that the man who intended to acknowledge him as his lawful child to be his legal father for the rest of the childà ¢Ã¢â€š ¬Ã¢â€ž ¢s life. Fourth, the man and the mother of the child could have been lawfully joined in marriage when it was begotten. There shall not be any proof that there were no lawful marriage between the man and the mother of the child which will affect the presumption of legitimacy o f the child. Fifth, the acknowledgment should not be only merely son-ship but that the child is his legitimate child which was a result of the consummation of marriage between the man and the mother of the child. He must not just merely acknowledge the existence of the child but also the kinship between both of them. Sixth, the man must be a competent person and have the legal capacity to enter into a contract. Any contract entered by a minor shall be deem void. Under the Shafii school of thoughts, a minority age for a male is below 15 years old. Thus, a 14 years old boy does not have the capacity to enter into the marriage contract. Seventh, the man who acknowledges must have the true intention of affirming the status of legitimacy of the child or acknowledgement of the child is definite to be the child of his body. In other words, he must have the confidence that the child is reproduced from his sperm and the ovum of the childà ¢Ã¢â€š ¬Ã¢â€ž ¢s mother and the child is part of him. S115[7] provides that the presumption of paternity through acknowledgement can be rebutted in a few ways. First is by the disclaimer on the part of the person acknowledged. The presumption may also be rebutted where it is proven that the proximity of age between the man and the child would render the filial relationship impossible. This usually happens when the age gap between the man and the child is too narrow. Other than that, the presumption may also be rebutted where it is proven that the child in fact belongs to other person or the child is the result of consummation marriage of some other person with the mother of the child. It is also rebuttable where there is proof that man who intended to acknowledge the child could not possibly be the lawful husband of the mother of the child at the time when the child could have been conceived. S116[8] provides acknowledgment by a woman in iddah shall not ascribe the paternity of the child to her husband unless this acknowl edgment is affirmed by him or by evidence. S117[9] provided that the acknowledgment of the child who acknowledged another as his parent shall constitute a valid relationship of kinship in condition the filial relationship is possible between them. S118[10] provided that acknowledgment other than as a child or parent shall not affect any other person except he affirms the acknowledgement. By virtue of S119[11], the acknowledgement shall become irrevocable once it has been made in respect of paternity or relationship. Lastly, paternity of a child can be determined through evidence. This happens when the husband is in doubt on the paternity of the child which was delivered by his wife when he was away for a short period of time. The wife may bring two females as evidence to prove her innocence. However, as the society has kept developing, the type of evidence to be proof also evolved. Most people prefer to use DNA test in proving the paternity of the child. DNA test is more accurate in proving the genetic relationship between the biological father and the child. There are cases where newborn babies are mix-up in hospitals and DNA test has easily proof the paternity of the child. This may also serve as strong evidence when there are two people acknowledging the paternity of the child. [1] Section 110 of Islamic Family Law (Federal Territories) Act 1984 states that where a child is born to a woman who is married to a man more than six qamariah months from the date of the marriage or within four qamariah years after dissolution of the marriage either by the death of the man or by divorce, the woman not having remarried, the nasab or paternity of the child is established in the man, but the man may, by way of lià ¢Ã¢â€š ¬Ã¢â€ž ¢an or imprecation, disavow or disclaim the child before the court. [2] (1976) 2 JH 296 [3] Section 111 of the Islamic Family Law (Federal Territories) Act 1984 states that where a child is born more than four qamariah years after the dissolution of the marriage either by the death of the man or by divorce, the paternity of the child shall not be established in the man unless he or any of his heirs asserts that the child is his issue. [4] Section 112 of the Islamic Family Law (Federal Territories) Act 1984 states that where a woma n, not having remarried, makes a declaration that the period of à ¢Ã¢â€š ¬Ã‹Å"iddah has been completed, whether the period is for death or divorce, and she is subsequently delivered of a child, the paternity of the child shall not be ascribed to her husband unless the child was born less than four qamariah years from the date of the dissolution of the marriage either by the death of the husband or by divorce. [5] Section 113 of the Islamic Family Law (Federal Territories) Act 1984 states that where a man has syubhah sexual intercourse with a woman, and she is subsequently delivered of a child between the period of six qamariah months to four qamariah years after the intercourse, the paternity of the child be ascribed to the man. [6] Section 114 of the Islamic Family Law (Federal Territories) Act 1984 [7] Section 115 of the Islamic Family Law (Federal Territories) Act 1984 [8] Section 116 of the Islamic Family Law (Federal Territories) Act 1984 states that where the ackn owledgor is a woman who is married or who is observing the à ¢Ã¢â€š ¬Ã‹Å"iddah, the paternity of the person acknowledged shall not be ascribed to her husband unless her acknowledgment is confirmed by him or by evidence. [9] Section 117 of Islamic Family Law (Federal Territories) Act 1984 states that where a person acknowledges another as his father or mother, the acknowledgement, if assented to or confirmed by the acknowledgee,, whether during the lifetime or after the decease of the acknowledgor, shall constitute a valid relationship, in so far as the parties themselves are concerned, provided that the ages of the acknowledgor and the acknowledge are such that filial relationship is possible between them. [10] Section 118 of Islamic Family Law (Federal Territories) Act 1984 states that where a person acknowledges another as a relation other than as a son, mother, or father, the acknowledgment shall not affect any other person unless that other person confirms the acknowledge ment. [11] Section 119 of Islamic Family Law (Federal Territories) Act 1984

President Franklin D. Roosevelt Quotes

Franklin D. Roosevelt, the 32nd President of the United States, led the country both during the Great Depression and World War II. He was charismatic and innovative at a time when the United States needed exactly that kind of leadership. Throughout his career in politics, especially during his unprecedented four terms in office, Roosevelt held numerous Fireside Chats and made many speeches, many of which contained important phrases for the time or timeless witticisms that are certainly worth remembering. Below you will find a collection of just a few of these quotes made by President Franklin D. Roosevelt. Quotes by Franklin D. Roosevelt Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.— Quote by Franklin D. Roosevelt, First Inaugural Address (March 4, 1933)It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something.— Quote by Franklin D. Roosevelt, Address at Oglethorpe University (May 22, 1932)It isnt sufficient just to want - youve got to ask yourself what you are going to do to get the things you want.— Quote by Franklin D. RooseveltWhen you get to the end of your rope, tie a knot and hang on.— Quote by Franklin D. Roosevelt, as quoted in the Kansas City Star (June 5, 1977)We can afford all that we need, but we cannot afford all that we want.— Quote by Franklin D. Roosevelt, Veto of the Bonus Bill (May 22, 1935)We cannot always build the future for our youth, but we can build our youth for the future.— Quote by Franklin D. Roosevelt, Addre ss at the University of Pennsylvania (September 20, 1940)If you treat people right they will treat you right -- ninety percent of the time.— Quote by Franklin D. RooseveltBe sincere; be brief; be seated.— Quote by Franklin D. Roosevelt, Advice to his son James on giving a speechRepetition does not transform a lie into a truth.— Quote by Franklin D. Roosevelt, Radio Address to the New York Herald Tribune Forum (October 26, 1939)No man can tame a tiger into a kitten by stroking it.— Quote by Franklin D. Roosevelt, Fireside Chat: The Great Arsenal of Democracy (December 29, 1940)I think we consider too much the good luck of the early bird and not enough the bad luck of the early worm.— Quote by Franklin D. Roosevelt, to Henry Heymann (December 2, 1919)Competition has been shown to be useful up to a certain point and no further, but cooperation, which is the thing we must strive for today, begins where competition leaves off.— Quote by Franklin D. Roosevelt, Speech at the Peoples Forum in Troy, New York (March 3, 1912)Confidence... thrives on honesty, on honor, on the sacredness of obligations, on faithful protection and on unselfish performance. Without them, it cannot live.— Quote by Franklin D. Roosevelt (1933)I ask you to judge me by the enemies I have made.— Quote by Franklin D. RooseveltIm not the smartest fellow in the world, but I can sure pick smart colleagues.— Quote by Franklin D. RooseveltMen are not prisoners of fate, but only prisoners of their own minds.— Quote by Franklin D. Roosevelt, Pan American Day address, April 15, 1939The only thing we have to fear is fear itself.— Quote by Franklin D. Roosevelt, First Inaugural Address (March 4, 1933)But while they prate of economic laws, men and women are starving. We must lay hold of the fact that economic laws are not made by nature. They are made by human beings.— Quote by Franklin D. Roosevelt, Nomination Address at the Democratic National Convention of 1932 (July 2, 1932)Yesterday, December 7th, 1941 -- a date which will live in infamy -- the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.— Quote by Franklin D. Roosevelt, Day of Infamy Speech, December 8, 1941

Decision Making Between Games Workshop And Hornby Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3711 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Your group is a team of investment analysts for Bresil Investments. Your role is to provide investment advice to high wealth individuals. Stephen has been a client of your bank for many years and has approached your manager for investment advice. Don’t waste time! Our writers will create an original "Decision Making Between Games Workshop And Hornby Finance Essay" essay for you Create order Stephen has a large portfolio of shares and has recently inherited a large sum of money which he also wishes to invest in shares. Stephen has a broad portfolio of shares but he does not have very much exposure to the games retailing sector. One of his friends has recommended the following two companies Games Workshop PLC and Hornby PLC. His file has been passed to you by your manager and he has asked you to prepare report for him. You have carried out some preliminary and obtained summary financial, share prices and dividends of the organizations for the last two accounting periods. Required: Carry out a financial analysis of both companies. This analysis should include: A justification of the tools and the ratios that you have chosen. Based on the financial analysis and ratios you have computed, an evaluation of the financial performance and current financial position of both companies. All computations should be included in an appendix. Identify the industry in which these two companies are operating and perform an industry specific analysis to discuss their prospects for investment. Based on your assumption of Stephens attitude to risk which should be clearly stated and supported by the results in (a) and (b) above, advise Stephen on how he should proceed with his investment decision. ASSIGNMENT INTRODUCTION In this course work, we have been asked to assume that we are a group of investment analysts for Bresil Investments and provide investment advisory service for Stephen Curry, a client who has a large portfolio of shares and is wishing to invest in retailing sector. Since he has got not much experience in this sector, he is seeking our help. The companies, Stephen has opted for making investment are Games Workshop PLC and Hornby PLC. For this purpose, we have carried out a financial analysis of both the companies, after careful scrutinization of their income statement and balance sheet for the years 2008, 2009, 2010. We have compared each ratios against suitable benchmarks. The three bases taken for comparison where Time, Industry averages and Expectations which can b referred to as TIE benchmarking. INTRODUCTION Games Workshop is one of the most successful tabletop fantasy and futuristic battle-games company in the world. Games Workshop Group PLC has been in business for about 30 years. Games Workshop deals with designing, manufacturing, distributing and marketing of a hobby based upon collecting, modelling, painting and tabletop gaming with model soldiers (the Hobby). The business of Games Workshop is about helping armies in the field of battle. The main brands of them are Warhammer and dark future Warhammer 40,000 game system. The companys headquarter is situated in Nottingham, in the UK. It has got direct sales operations in the UK, the US, Spain, Italy, Canada, Japan, France, Germany and Australia.The majority of the sales and profits of the Group is being contributed by the Games Workshop. It was quoted in the London Stock Exchange and listed in the year 1994. Along with this, Games Workshop PLC has got other companies like BL publishing which is basically publisher of novels, backgroun d books etc. Hornby is the UKs one of the leading model railway manufacturer brand and it is a household . The founder of this company was Frank Hornby who applied for a patent in 1901 and after getting the patent, he started the production under the name Mechanics Made Easy which in 1907, led to the establishment of Meccano Ltd. The company had good time in their journey later on. They started with the production of classic toys to toy trains in 1920 and electric train in 1925. Later on, they introduced lot of innovative toy product items down their way. The company, which is at present known as Hornby Hobbies Ltd, became an independent company and it was floated on the Unlisted Securities Market, on 29 OctoberÂÂ  1986. Now the company is simply called as Hornby and has become successful in establishing a firm reputation as a benchmark for the industries as far as quality is concerned which became possible for them, through the quality service they offer to their wide portfolio customers. E ven now, Hornby is maintaining a firm position in the market , after having more than 50 years experience in this sector and is standing out as Britains leading railway manufacturers.. FINANCIAL STATEMENTS Hornby PLC Consolidated Income Statement 2010 000 2009 000 2008 000 Revenue 64,736 61,569 55,692 Cost of sales (32,636) (32,168) (26,297) Gross Profit 32,100 29,401 29,395 Distribution costs (2,702) (2,454) (2,138) Selling and marketing costs (13,602) (13,641) (11,551) Administrative expenses (8,243) (7,976) (6,268) Other operating (expenses)/income (1,549) 1,569 (52) Operating Profit 6,004 6,899 9,386 Finance income 20 27 5 Finance costs (809) (805) (374) Profit before taxation 5,215 6,121 9,017 Taxation (1,530) (1,909) (2,940) Profit for the year after taxation 3,685 4,212 6,077 Other comprehensive income Cash flow hedges, net of tax 848 (813) Currency translation differences 19 (336) Other comprehensive income for the year, net of tax 867 (1,149) Total comprehensive income for the year 4,552 3,063 Earnings per ordinary share Basic 9.76p 11.17p 16.15p Diluted 9.60p 10.98p 15.62p Consolidated Balance Sheet 2010 000 2009 000 2008 000 Assets Non Current Assets Goodwill 13,416 13,624 9,925 Intangible Assets 5,227 5,689 2,404 Property, plant and equipment 10,020 10,523 8,360 Investments Deferred tax assets 140 67 123 28,803 29,903 20,812 Current Assets Inventories 12,273 14,368 11,890 Trade and other receivables 13,291 13,119 10,699 Derivative financial investments 750 Current tax assets 175 124 152 Cash and cash equivalents 8,998 427 940 35,487 28,038 23,681 Liabilities Current Liabilities Borrowings (1,718) (5,138) (2,220) Derivative financial instruments (3,342) (3,960) (1,350) Trade and other payables (10,363) (8,270) (6,851) Provisions (391) (538) (500) Current tax liabilities (1,020) (999) (1,723) (16,834) (18,905) (12,644) Net current assets/(liabilities) 18,653 9,133 11,037 Non current liabilities Borrowings (10,547) (7,181) (41) Deferred tax liabilities (281) (301) (346) (10,828) (7,482) (387) Net assets 36,628 31,554 31,462 Equity attributable to owners of the parent Share capital 380 380 380 Share premium 5,340 5,278 5,278 Capital redemption reserve 55 55 55 Translation reserve (514) (533) (197) Hedging reserve 168 (680) 133 Other reserves 1,688 1,688 1,688 Retained earnings 29,511 25,366 24,125 Total equity 36,628 31,554 31,462 4.2 Games Workshop PLC Group Income Statement 2010 000 2009 000 2008 000 Continuing operations Revenue 126,511 125,706 110,345 Cost of sales (30,683) (35,919) (33,731) Gross profit 95,828 89,787 76,614 Operating expenses (82,839) (84,325) (75,798) Other operating income-royalties receivable 3,056 3,471 1,736 Operating profit 16,045 8,933 2,552 Finance income 442 333 425 Finance costs (367) (1,808) (1,918) Profit before taxation 16,120 7,458 1,059 Income tax expense (1,040) (2,107) (613) Profit for the year from continuing operations 15,080 5,351 446 Discontinued operations Profit/(loss) for the year from discontinued operations 118 1,186 Profit attributable to equity shareholders 15,080 5,469 (740) Group Balance Sheet 2010 000 2009 000 2008 000 Non- current assets Goodwill 1,433 1,433 1,433 Other intangible assets 5,889 5,811 6,059 Property, plant and equipment 23,264 25,380 26,422 Trade and other receivables 1,678 1,570 1,234 Financial assets-derivative financial instruments 14 Deferred tax assets 5,917 4,704 3,005 38,181 38,898 38,167 Current assets Inventories 10,138 10,678 10,392 Trade and other receivables 10,043 9,959 9,870 Assets held for sale 464 Current tax assets 301 32 854 Financial assets derivative financial instruments 210 17 Cash and cash equivalents 17,089 10,355 7,723 37,571 31,234 29,320 Total assets 75,752 70,132 67,487 Current liabilities Financial liabilities borrowings (2) (2,791) Financial liabilities derivative financial instruments (550) (1,401) Trade and other payables (15,550) (14,092) (15,351) Current tax liabilities (1,027) (2,233) (222) Provisions (1,848) (1,046) (1,155) (18,425) (17,923) (20,920) Net current assets 19,146 13,311 8,400 Non-current liabilities Financial liabilities-borrowings (12,000) (15,001) Other non-current liabilities (582) (632) (723) Provisions (1,442) (1,586) (1,317) (2,024) (14,218) (17,041) Net assets 55,303 37,991 29,526 Capital and reserves Called up share capital 1,557 1,556 1,556 Share premium account 7,837 7,822 7,822 Other reserves 3,722 1,837 (321) Retained earnings 42,187 26,776 20,469 Total shareholders equity 55,303 37,991 29,526 RATIO ANALYSIS 5.1 Profitability Ratios (i) Ratio on Capital Employed In any business, the main aim of investing in any business is to acquire sufficient benefit on capital invested. The term used to measure the success of a business is Return on capital employed. Return on capital employed is a ratio that implies the success and profitability of a companys capital investments. This ratio is expressed as Profit Before Interest and Tax (PBIT) over the long term investment made in the business. ROCE = PBIT / [share capital + reserves + long term loans] x 100 Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 12.65% 27.99% 2009 17.67% 17..11% 2008 29.47% 5.48% (ii) Net Profit Margin A profitability ratio computed as profit before interest and tax over sales. It shows the companys ability to produceÂÂ  at a appropriateÂÂ  salesÂÂ  level. Net Profit Margin = PBIT / Sales x 100 Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 9.27% 12.68% 2009 11.21% 7.11% 2008 16.85% 2.31% Asset Turnover ratio TheÂÂ  asset turnover ratio is a measure of the amount of sales that a company generates using the assets available. It is calculated as sales over capital employed. Asset Turnover = Sales / Capital Employed x 100 Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 1.36% 2.21% 2009 1.58% 2.41% 2008 1.75% 2.37% Comparative analysis ROCE of Hornby decreased drastically from 29.47% to 17.67% to 12.65% where as that of Games Workshop increased slightly from 5.48% to 7.11% to 12.68%. This fall in ROCE for Hornby can be attributed to the rise in borrowings during the three years. This fall can also be accounted for the rise in share capital and reserves. This fall can also be linked to the decrease in the operating profit by 63.96% from 2008 to 2010. The profit after tax for Hornby has increased. Both the companies have shown an increase in revenue. The net profit margin figure of Hornby has fallen from 16.85% to 11.21% to 9.27%, where as that of Games Workshop has risen from 2.31% to 7.11% to 12.68%. Games Workshop is maintaining a higher net profit margin than Hornby. Since the Roce of Games Workshop has been increased and its net profit margin has also risen, asset turnover ratio remains almost constant from 2.37 in 2008 to 2.21 in 2009. This shows the relation between ROCE, NP margin and Asset Turnover ratios. 5.2 Efficiency ratios (i) Stock Turnover period Stock turnover period indicates a particular time period, during which the companys stock is restored many times. The ratio is calculated as stock divided by cost of goods sold during the time period. Stock Turnover Period = Stock x 365 / Cost of sale Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 137 121 2009 163 109 2008 165 112 (ii)Debtor Collection Period The duration of time, on average, taken by the customers to pay for the goods sold.This ratio is also expressed as Trade Debtors over Credit sales. Debtor Collection Period = Trade Debtors / Credit Sales x 100 Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 75 29 2009 78 29 2008 70 33 Comparative analysis In the last three years, the stock turnover period of Hornby has decreased from 165 days to 163 days to 137 days, where as that of Games Workshop has increased from 112 to 109 to 121 days. When comparing both the companies, Games Workshop has a lesser stock turnover period. This means that the movement of stock is faster than in Hornby. This indicates that Games Workshop is maintaining its stock more efficiently than Hornby. There is a fall in the debtor collection period for both the companies in the last three years. It decreased from 70 to 78 to 75 days for Hornby and 33 days in 2008 to 29 days, which remained constant both in 2009 and 2010 for Games Workshop. Hornby can actually reduce the debtor collection period much further. Comparing both the companies, Games Workshop has higher efficiency. 5.3 Liquidity Ratios (i) Current Ratio The current ratio is an explanation of the companys capability to meet short-term liabilities. It shows the amount of current assets the company has to cover its current liabilities. The ratio is calculated as current assets over current liabilities. Current Ratio = Current assets / Current liabilities Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 2.11 2.04 2009 1.48 1.74 2008 1.87 1.40 (ii) Liquid Ratio The liquid ratioÂÂ  measuresÂÂ  a companysÂÂ  ability to cover up its short-term liabilitiesÂÂ  using its liquid assets. Liquid ratio, also known as quick ratio, is calculated as currents assets less stock over current liabilities. LiquidRatio = Current assets Stock / Current liabilities Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 1.38 1.49 2009 0.72 1.15 2008 0.93 0.90 Comparative analysis For Hornby the current ratio is 1.87 in 2008 and 1.48 in 2009 and 2.11 in 2010. For Tesco the current ratio is 1.40 in 2008 and 1.74 in 2009 and 2.04 in 2010. Both the companies have shown improvement in the current ratio. Hornby is in a good position to clear its short term liabilities than Games Workshop. The standard current ratio is considered to be 2:1, since it is a bit higher, Hornby is not efficiently using its current assets. Quick ratio for Hornby increased from 0.93 in 2008 to 0.72 in 2009 to 1.38 in 2010 . The ratio for Games Workshop increased from 0.90 in 2008 to 1.15 in 2009 to 1.49 in 2010. As a result the quick ratio of the company increased very well and On comparing both the figures, Games Workshop has higher liquid ratio and so, is in a better financial position to cover its short term liabilities. 5.4 Gearing Ratio (i) Gearing Ratio A financialÂÂ  ratioÂÂ  thatÂÂ  comparesÂÂ  companys capital employed to borrowedÂÂ  funds. It relates to the amount of debt a company has. It is calculated as long term borrowings over capital employed. Gearing Ratio = Long Term Borrowings / Capital Employed x 100 Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 22.22% 0% 2009 18.40% 22.98% 2008 0.13% 32.21% (ii) Interest Cover Ratio TheÂÂ  interest coverage ratio is used to measure how efficiently the company is able to pay the interest on its outstanding debt. It is calculated as companysÂÂ  profit before interest and taxesÂÂ  (PBIT) over interest payable for the same duration of time. Interest Cover Ratio = PBIT / Interest Payable Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 7.42 50.94 2009 8.57 7.10 2008 25.10 1.52 Comparative Analysis The gearing ratio of Hornby has increased largely from 0.13% to 18.40% to 22.22% while that of Games Workshop decreased drastically from 32.21% to 22.98% to 0%. Games Workshop has a much lesser gearing ratio, when compared to Hornby. This means that Games Workshop has not taken much debt, whereas Hornby has to decrease its gearing ratio or else it will have to pay a high interest. The interest cover ratio for Hornby has decreased from 25.10 in 2008 to 8.57 in 2009 to 7.42 in 2010, while that of Games Workshop has increased from 1.52 in 2008 to 7.1o in 2009 to 50.94 in 2010. The low interest cover ratio of Hornby indicates the large amount of borrowings it has made to finance the business. 5.5 Investment Ratios (i) Return on Shareholders Funds (ROSF) ROSF is a ratio which measures the return to the shareholders from the companys profit, in relation to the investments made. It is calculated as profit after tax over ordinary share capital and reserves. ROSF = Profit after Tax / Ordinary Share Capital + Reserves Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 10% 32.33% 2009 13% 16.44% 2008 19% 3.59% (Ii) Dividend Payout Ratio It indicates the money that is paid out in the form of dividends by the company to its shareholders. It is calculated as net dividend over profit after tax. Dividend Payout Ratio = Net Dividend / Profit After Tax Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 51% 51.65% 2009 24.1% 0% 2008 52.5% 0% (ii) Dividend Cover It is a measure of the amount of profit generated by the company, in order to manage the level of dividend paid out. It is calculated as profit after tax over net dividend. Dividend Cover = Profit after Tax / Net Dividend Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 1.96 1.93 2009 4.15 0 2008 1.9 0 (iii) Dividend Yield It is a ratio that interprets how much an investor may get as dividend, depending on the investment made in a company, in relation to the price per share. It is calculated as dividend per share over market price per share. Dividend Yield = Dividend per Share / Market Price per Share Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 3.97% 7.2% 2009 3.97% 0% 2008 4.49% 0% (iii) Price-Earnings Ratio It is a valuation ratio of a companys market price per share over earnings per share. It is an important tool for making investment ratio. In order to take a decision, we cannot depend on a single P/E ratio, but a better analysis can be done by comparing P/E ratios of different companies in same industry. P/E Ratio = Market Price per Share / Earnings per Share Using the above formula, the figures for Hornby and Games Workshop was obtained as follows:- YEAR HORNBY GAMES WORKSHOP 2010 12.85 7.14 2009 6.07 11.88 2008 22.23 72.5 Comparative Analysis Return on Shareholders Funds (ROSF) for Hornby decreased from 19% in 2008 to 10% in 2010. It increased from 3.59% in 2008 to 32.33% in 2010. Dividend Payout Ratio for Hornby has increased from 52.5% in 2008 to 24.1% in 2009 and then shot up to 51% in 2010, and increased from 0% in 2009 to 51.65% in 2010 for Games Workshop . This indicates that the proportion of earnings Games Workshop pays out to its shareholders as dividends is more than what Hornby pays to its shareholders. Dividend Cover ratio shows how much of profits are generated to cover the dividends. Dividend Cover for Hornby has increased from 1.9 in 2008 to 4.15 in 2009, and then decreased to 1.96 in 2010. The ratio for Games Workshop increased from 0 to 1.93 in 2010. This means for the year 2010 the profit generated by Hornby can cover its dividends by 1.96 times and profits earned by Games Workshop can cover its dividends by 1.93 times. Hornby is having more dividend cover than Games Workshop. Dividend Yield of Hornby decreased from 4.49 % in 2008 to 3.997% in 2009 and 2010, where as it increased from 0% to 7.2% in 2010. Games Workshop has a higher dividend yield than Hornby. While looking at the scenario from an investors point of view, he would prefer to invest in Games Workshop. . Price Earnings (P/E) ratio has decreased from 22.23 in 2008 to 6.07 in 2009, and later on rised to 12.85 in 2010 for Hornby. It has decreased from 72.5 in 2008 to 11.88 in 2009 to 7.14 in 2010 for Tesco. Price earnings ratio is directly proportional to the expectation of the investors concerning future growth. Hornby has higher P/E ratio than Games Workshop for the year 2010. INDUSTRY ANALYSIS Hasbro, Inc is a company which performs in the same business as Hornby and Games Workshop. We can analyze the performance of Hornby and Games Workshop by comparing with the competitor i.e. Hasbro. The ROCE of Hasbro was 23.53% in 2008 and 21.58% in 2009, where as for Hornby, the ratio was 29.47% in 2008 and 17.81% in 2009. Form this we can understand that there is a decreasing trend in ROCE for Hornby. So the profit will decrease in the coming years. The current ratio of Hasbro increased from 2.142% in 2008 to 2.5% in 2009, whereas that of Hornby decreased from 1.87% to 1.48% in 2009. In the year 2010, the current ratio for Hornby rose to 2.11%. so the financial position of Hornby to meet current liabilities is increasing. The gearing ratio of Hasbro increased from 0.337% in 2008 to 0.415% in 2009, whereas that of Hornby increased from 0.13% to 18.40% in 2009. So when we consider Hornby, gearing ratio is increasing, which will be a loss for the company. The ROCE of Games Workshop increased from 5.48% in 2008 to 17.11% in 2009. On comparing ROCE of Games Workshop with Hasbro, there is an increasing trend, and so the profit will increase. The current ratio of Games Workshop increased from 1.40% to 1.74% in 2009. This ratio on comparing with that of Hasbro, indicates that the financial position of Games Workshop is increasing. The gearing ratio of Games Workshop decreased from 32.21% to 22.98% in 2009. The ratio further decreased to 0% in 2010. This will not be a loss for the company. FUTURE PROSPECTUS In the present technology driven world, you would hardly find people who are not familiar with the companies like Games Workshop PLC, Hornby PLC, Hasbro etc. Hobby enthusiasts who go crazy for technology, music, model toys, games etc are giving sheer push and great support to Hornby and Games Workshop. These industries have successfully made a mark on their respective wider industry. But they had to face many competitions within the competitors in the same field like Hasbro, Wizards of Coast etc . When the competition started going up, it automatically led to the diversification of the product lines like consumer products, mail orders, non-store retail, catalog, television sales etc.. The demand of games and toy industry ll shoot up in the near future due to the increase in demand for entertainment. All kinds of toys has been a demand among children of age grouped 12 and below. But the main threat for the toy industry is the hiking competition from other source of entertainment like internet, television etc. There has been a drastic difference of demand in the electronic gaming products. Gaming industry is one which always welcomes innovation. In the past 10 years, lot of innovations has happened in this sector and it has led to the introduction of lot of product items into the market. There is a wide range of market for this sector and the most interesting part is that, the demand for electronic gaming products has always shown a rise and it has now become an unavoidable part of entertainment for the customers of almost age group. If we take Games Workshop PLC into consideration, it has made an appreciable contribution to the whole British Gaming Industry. Games workshop has been planning lot of new projects and proposals and as a latest update, Games Industry and Fantasy Flight games have entered an agreement. As per the agreement, the Fantasy Flight becomes the exclusive publisher of card games, board games and role playing games based on Games Workshops family of renowned intellectual properties. The company has got an expectation of achieving a 20% growth in profit behind the making of this contract. The company saw its revenues rise 13.5pc to 61.2m for the six months to November 30, as the company swung into a 3.1m pre-tax profit from a 300,000 the year before and is expecting a higher rate in the coming years. On the other hand, Hornby Plc, has announced that it has entered into a contract with Humbrol Limited in Administration for acquiring a few assets. The contract has been made worth 6.5 million pounds. The company is thereby forecasting a significant growth in the near future. They have got plans to launch a series of new products with better performance. The company is expected to have an upward growth after having received the rights for the production for the Olympics in the year 2012. Hornby has also got plans to re-construct their present business, after relocating their distribution, sales and marketing operations centre to its own site in kent. They have also got plans to re-locate their manufacturing and assembling processes to third parties which will help the company to focus on the other aspect of sales whereby they could shoot up their sales level. The success of all companies is in identifying the most appropriate market, fixing their target, identifying the market trend and developing products which could satisfy the present customer wants. Games Workshop and Hornby has the ability to provide a wide selection of product items and have scale advantages in purchasing, producing, distributing,marketing and selling of products. Both the games and hornby are expecting a bright and successful future laid before them. CONCLUSION

Essay on The House on Mango Street and the Style of...

The House on Mango Street and the Style of Sandra Cisneros Clearly, Sandra Cisneros writing style is one representative of a minority voice. Her amazing style allows her readers to take an active part in the minority experience. For this reason, I believe Cisneros has had a lot of influence and success in the status of minority writers, especially in the canon of what is read and taught in schools today. But, more than anything, Cisneros has shown that liberation can come through creativity and literature, and not just through geographical excursion. Cisneros The House on Mango Street is a novel about the importance of not forgetting where you come from. Esperanza, a young Latino girl and the storys main character, wants to†¦show more content†¦In other words, Esperanza comes to understand that identity is very much beyond where ones house is located. It may even be connected to art. In examining these profound themes, Cisneros has been able to achieve a significant amount of influence and success in the role and status of minority writers. As stated previously, Cisneros style in The House on Mango Street suggests to us that liberation can be achieved through an art form, rather than physically picking up and moving your residence. Esperanza overcomes her condition by creating the realm of literature, rather than the physical reality of another house in another time and place. In this way, she is able to distance herself from her community and family. But all the while, still holding on to her heritage and ethnicity. By affirming her own artistic ability, Esperanza is able to blend all of her dreams. Because of this we come to understand that one can achieve self-discovery and even independence through something so remote as literature. This is where I find Cisneros influence the most powerful. I believe she is stressing a theme here, not just for Hispanics, but for all minorities as well. She lets them know that liberation can be achieved within several realms of the human experience. I believe that Cisneros demonstrates that individual values can and usually are socially constructed. As critic Ellen McKracken writes, the volumes simple, poetic language, with itsShow MoreRelatedEssay on Sandra Ciseneros563 Words   |  3 PagesSandra Ciseneros It was a cold and windy day, a perfect day to uncover secrets and truths about writers I had heard of, but new little about. I entered the library to escape the weather and lose myself in books about Sandra Ciseneros and the characters she creates in her poems and stories. I began my search at a computer resource station, and then absorbed myself in the materials it provided, which were biographies, criticisms, and the works of Cisneros. 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Esperanza is an impoverished girl who desires to become someone who is respected and not objectified. In this way, Chopin and Cisneros delineate the ontogeny of the mental amelioration of women through the usage of imagery and similies/metaphors to exemplify the societalRead More‚Äà ºthe Setting of the House on Mango Street‚Äà ¹974 Words   |  4 Pages10:40-11:55 November 26, 2012 â€Å"The Setting of the House on Mango Street† The short story, â€Å"The House on Mango Street,† is a story that is centered within a particular neighborhood, which is evidently inhabited by middle-to-lower class folks. Although the introduction of the story does not state a specific location, it is safe to say that it is not the typical neighborhood where you would find rich white folks living. For example, the house where the protagonists live is described as almost collapsing

Blood Pressure Responses to Exercise’ Free Essays

Introduction: Blood pressure is a measure of the force exerted by blood flow against the walls of the arteries as it transverses the body (Bakke et al., 2006). Systolic blood pressure refers to the pressure in the arteries during the contraction of the heart and diastolic blood pressure is where the pressure is exrted on the blood vessels during heart relaxation (Michelsen and Otterstad, 1990)Various researchers have conducted studies on the differences in blood pressure responses to isometric exercise compared to dynamic exercise. We will write a custom essay sample on Blood Pressure Responses to Exercise’ or any similar topic only for you Order Now For instance, Kingwell and Jennings (1993) undertook the study to determine the blood pressure at rest and during maximum dynamic exercise and compared the results to blood pressure at isometric exercise and have established that there is a direct relation between blood pressure, isometric and dynamic exercises and the body surface area of an individual. However, a common conclusion in most of these studies established that the percentage change in blood pressure to each stress was inversely relational to the resting blood pressure. The differences in blood pressure response in this context indicate that the proportional change in the blood pressure in relation to each stress declines as the resting blood pressure increased. This study shall aim at discussing the blood pressure responses to exercise and the mechanisms of the cardiovascular and respiratory systems to the blood pressure variations. Methods: Number of participants: To estimate the difference in blood pressure due to exercise, the experimentation involved 18 individuals within the age group of 19-40 years. 14 of them were male and 4, female. The experiment was performed in the conditions of rest and exercise (dynamic and isometric) and the observations were tabulated for further analysis. Instruments used for the experiment: Automated sphygmomanometer (Omron M7) Handgrip dynamometer (MIE) Cycle ergometer (Monark 874e) Measurement during rest: The participant was seated comfortably and the left arm is placed at the heart level. Measurement during Dynamic Exercise: The participants were seated on cycle ergometer and their systolic and diastolic blood pressures are noted at rest using a manual sphygmomanometer. The participant was then instructed to cycle on the ergometer for 3 minutes and the systolic and diastolic measurements are taken again using manual sphygmomanometer. The participant was then instructed to cycle for further three minutes and the readings are taken again. After the completion of test cycle, the procedure was repeated again to verify the readings using auto- sphygmomanometer. Measurement during Isometric Exercise: Using a hand grip Dynamometer, the Maximum voluntary contraction (MVC) was performed and measured on the participants after the resting measurement is noted. The participants were made to perform 50 percent MVC until they were able to and the duration was measured. The blood pressure was measured immediately after that using manual sphygmomanometer and the observations were noted. The tests were repeated in duplicate to verify using an automatic sphygmomanometer and the readings were tabulated. Results: The results observed indicate that there is considerable increase in the systolic blood pressure after dynamic exercise whereas diastolic blood pressure recorded a notable increase. The mean arterial pressure also had a considerable rise following dynamic exercise. On the contrary, isometric exercise yielded different observations. The systolic blood pressure showed a little increase following isometric exercise and the diastolic blood pressure was observed to decrease. The mean arterial blood pressure had no deviation after the test and remained same. From the study, the results on the blood pressure responses varied depending on the different dynamics of the body. The surface area of the body was an instrumental determinant in the blood pressure levels both at rest and during exercise. The blood pressure levels were found to vary in relation to the body surface area in terms of weight and size. From the results, participants with a higher weight exhibited lower systolic and diastol ic levels at rest. At rest, the participant with the highest weight of 122kg and 1.85m tall had 69 and 57 BP level at systolic and diastolic levels respectively. This could be compared to the participant with 48kg and 1.45m tall who had 97 and 71 systolic and diastolic BP levels at rest respectively. However, the results were different during exercise. The heavier participants exhibited higher levels of systolic and diastolic BP levels compared to the lighter participants. The heaviest participant had 156 and 86 systolic and diastolic BP levels respectively while the lightest participant had 109 and 81 systolic and diastolic BP levels respectively at exercise. Observations: Table 1: Blood Pressure Responses to Dynamic Exercise CategoryDuring RestAfter ExerciseUnits Mean Systolic126.6111111145.4444444(mmHg) Mean Diastolic81.5555555682.44444444(mmHg) Standard Deviation Systolic22.0377720919.12873484(mmHg) Standard Deviation Diastolic12.866839388.542091094(mmHg) MAP Mean96.5740741103.4444(mmHg) MAP Standard Deviation15.022773810.42746(mmHg) Table2: Blood Pressure Responses to Isometric Exercise CategoryDuring RestAfter ExerciseUnits Mean Systolic124.5129.2777778(mmHg) Mean Diastolic82.9444444480.11111111(mmHg) Standard Deviation Systolic12.3347905912.54078314(mmHg) Standard Deviation Diastolic21.5200924511.96017356(mmHg) MAP Mean96.796296396.5(mmHg) MAP Standard Deviation16.44882699.128888(mmHg) Table3: Blood Statistical analysis to determine difference between means using t-test DESCRIPTIONP-Value (T-test score) Systolic BP (mm Hg) During rest and exercise After dynamic test0.003281 Diastolic BP (mmHg) During rest and exercise After dynamic test0.372261 MAP (mmHg) during rest and Exercise after dynamic test0.033335 Systolic BP (mm Hg) During rest and exercise After isometric test0.08211226 Diastolic BP (mmHg) During rest and exercise After dynamic test0.283682569 MAP (mmHg) during rest and Exercise after dynamic test 0.471696424 Discussion: From the results, it is clear that isometric exercise produces a characteristic increase in blood pressure. This has a relation to the surface area of the body as well as the height of the individual. There is a greater increase in arterial blood pressure during static exercise compared to rest. Studies have also established that the results vary with age (Bakke et al., 2006). The results indicated that age produces a contraction of the vascular walls, which become less elastic. This is evident in the results as younger participants exhibited higher systolic and diastolic blood pressure at rest. However, the results were different during the diastolic phase at exercise because of the elasticity differences in the vascular walls. Other studies (Boutcher and Stocker, 1999; Carre, 2002) have found similar variations in blood pressure during rest and exercise. Age and body surface area have been found to contribute greatly to the results because of the variations in the size of vascular walls (Kingwell and Jennings, 1993). Conclusions: There is a marked increase in blood pressure during isometric activity compared to dynamic activity. Studies have recognized that there is a relation flanked by blood pressure, isometric and dynamic exercises and the body surface area of an individual (Michelsen and Otterstad, 1990; Bakke et al., 2006) References Aronow W. S. 2001, Exercise therapy for older persons with cardiovascular disease. Am JGeriatr Cardiol, 10: 245–249. Bakke EF, Hisdal J, Jorgensen J. J, Kroese A, Stranden E. 2006, Blood pressure in patients with intermittent claudication increases continuously during walking. Eur J Vasc EndovascSurg; [Epub ahead of print]. Boutcher S. H, Stocker D. 1999, Cardiovascular responses to light isometric and aerobic exercise in 21-and 59-year-old males. Eur J Appl Physiol Occup Physiol (1999); 80: 220–226. Carre F. 2002, Cardiovascular benefits and hazard of physical practice. Ann Cardiol Angeiol(Paris); 51: 351–356. De Araujo W. B. Ergometria Cardiologia Desportiva Medsi. Rio de Janeiro: Editora Medica e Cientifica Ltda.; 1986. Michelsen S, Otterstad J. E. 1990, Blood pressure response during maximal exercise inapparently healthy men and women. J Intern Med, 227:157-63. Kingwell, B. A., and G. L. Jennings. 1993, Effects of walking and other exercise programs upon blood pressure in normal subjects. Med. J. Aust. 158:234 –238. How to cite Blood Pressure Responses to Exercise’, Essay examples

Employment Rights free essay sample

List the main features of current employment legislation Employment rights Equalities and Discrimination Health and Safety Outline why legislation relating to employment exists Legislation relating to employment exists to help protect the rights of employees and employers. This is done by providing rules and regulations that must be followed. Identify sources and types of information and advice available in relation to employment responsibilities and rights Some sources and types of information available in relation to employment include; Job contracts The terms and conditions of the employee’s contract Policy documents Job descriptions. Task 2 Awareness of own occupational role and how it fits within the sector Links to learning outcome 2, assessment criteria 2. 1, 2. 2, 2. 3, 2. 4 and 2. 5 Describe the terms and conditions of your contract of employment Describe the information shown on your pay statement The name of the company and PAYE reference are shown on my pay statement. Also, my National Insurance number, name and address and the hours I’ve worked (along with the hourly rate) are shown. We will write a custom essay sample on Employment Rights or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Deductions such as Tax and National Insurance are also displayed. Describe the procedures to follow in event of a grievance Any member of staff has the right to express a grievance relating to their employment. Below are the steps that should be taken. 1. The grievance should be expressed orally, or in writing, to the owner/manager, who will attempt to resolve the issue at the earliest opportunity. 2. If the matter is not dealt with satisfactorily within 15 working days, the grievance can be referred to an independent arbitrator with experience in Human Resource issues who will be recommended by the National Day Nursery Association. 3. At any stage, the employee has a right to be represented by a Trade Union official. Identify the personal information that must be kept up to date with own employer Telephone number Address Doctor’s details Emergency contact These details must be kept up to date as the Manager needs to be able to contact you regarding work. Also, if anything happens to you whilst at work, people must be contactable as they would need to be informed. Explain the agreed ways of working with your employer I must be flexible with days and keep to my assigned days and hours, unless there is a good reason why I cannot. I should inform the manager/owner before 8am if I cannot attend work that day and I also must attend staff meetings out of work hours. I am also obliged to read, understand and respect the policies and procedures of the nursery at all times. Task 3 Agreed ways of working with your employer Links to learning outcome 3, assessment criteria 3. 1, 3. 2, 3. 3 and 3. 4 Explain how own role fits within the delivery of the service provided Nurseries provide care and education for children aged 3 months 5 years. The aim of the service is to help children to develop whilst keeping them healthy and safe. My role fits within the delivery of this as I lead creative activities, circle times (including; stories, songs and games to strengthen numbers/colours/memory skills) which all aid children’s development. I serve healthy food at meal times and provide fruit and healthy snacks throughout the day, ensuring that children eat a varied and balanced diet. I also follow safeguarding procedures to make sure that children are kept safe, such as; open door policy when changing nappies and no phones/digital cameras in the room. Explain the effect of your own role on service provision Describe how your own role links to the wider sector Describe the main roles and responsibilities of representative bodies that influence the wider sector OFSTED: The Department of Education: Social Services:

Demand & Supply of Oil in Australia-Free-Samples for Students

Question: Discuss about the Demand and Supply Of Oil In Australia. Answer: Globally, oil is described as the engine of the economy. Mainly, this is because oil is a significant raw material for many industries. For this reason, any changes in its supply and demand considerably influence the rest of the economy. As such, alterations in its demand and supply affect the prices of the commodity, which then influences the prices of other goods and service. According to Jessica Resnick-Aults article, the prices of oil dropped. In her article Oil falls despite steep draw in US crude, reveals that the prices of oil in the country have fallen by approximately one percent. Notably, the changes in price of the commodity are as a result of changes in its demand and supply in the global market. It is worth pointing out that the article implores the interests of various groups, among them individuals and firms. Firstly, households may find the article interesting simply because the global prices of oil influences their utility bills with respect to cooking gas and vehicle fuel. In the same way, manufacturing firms may take keen interest in the article because oil is a significant component in many production processes. For this reason, changes in the price of the commodity greatly influence their cost of production, which in turn affect the prices they charge for their goods and services. In addition, refining companies might also find the article interesting as it informs them on the factors that cause significant changes in the prices of oil in the country and the rest of the world. Fundamentally, the issues presented in the article can be presented in terms of economic concepts and theories. In this case, the concept of the law of demand and the law of supply can be applied to explain the changes in the price of oil in the country as well as the rest of the world. In economics, an increase in the demand of a product brings about a rise in its price (Amadeo, 2017). In the same way, a drop in the supply of the commodity leads to an increase in the price of the product. Mainly, this is because a decrease in supply creates pressure on the available amount, thereby pushing its prices upwards. In the article, Resnick-Ault suggests that the gradual slowdown in the demand for oil has significantly influenced the falling of petroleum prices in the country. Predominantly, the reduction in the quantity demanded is as a result of the ending of the peak of the summer driving season. In addition, the demand for crude is expected to slow down following decreases in refinery needs by companies. Furthermore, it has slowed as a result of a decline in the number of summer road trips within the country. All these factors combined, have adversely affected the level of demand for oil and its related products in the country. Consequently, a reduction in the demand for oil has caused a downward pressure on the price of the commodity in the country. Effects of low demand on oil prices Source: (Khan, n.d.). In addition to demand, the supply of the commodity has played a major role in influencing its price level in the country. More specifically, there is a global surplus of oil from OPEC countries and the uses. Fundamentally, it arises from the fact that the global economy is facing a significant growth in the level of output from oil producing countries throughout the world. Primarily, economic theory dictates that when the supply of a good increases, a negative and downward pressure is placed on its price. In the same view, the continued oversupply of oil in the international marketed has placed a negative pressure on the price of the commodity, forcing it to drop. Effects of supply on price Source: (Khan, n.d.). It is worth noting that the reduction in the price of oil in the country has both positive and negative implications for the Australian economy. By and large, low oil prices act a significant economic stimulus that brings about growth and development. More specifically, lower oil prices lead to a reduction in the cost of transport for households and firms. In turn, this ensures lower costs for businesses and ensures profitability. Additionally, lower prices leads to a reduction in the level of inflation in the economy and, thus, ensures price stability. Moreover, it leads to a decrease in the cost of production of manufacturing companies in the country, which then leads to a decline in the prices they charge for their products. Thus, the combined effects of lower prices in the country boost economic growth. Even so, it is imperative to point out that a continued drop in the prices of oil in the country may negatively affect economic growth. As such, it may force oil companies to go out business to cut back on their production or go out of business. Consequently, this forces firms to lay off some workers, leading to an increase in the level of unemployment in the country. thus, eventually, a continued increase in the price of the product will be detrimental for the Australian economy. In this regard, it is recommended that the government should control the demand and supply of the commodity. This way, decreases in the price of oil would be moderate, and hence, act as a stimulus to the Australian economy. All in all, taking all factors into consideration, the demand and supply of oil plays a significant role in influencing the price level in the country. Through Resnick-Aults article, the reader discovers that low demand in the country has led to a fall in the price oil. In addition, a consistent increase in the supply of the commodity has negatively affected its price. For this reason, one notes that the forces of demand and supply are significant in determining the price level of a particular commodity. Reference List Amadeo, K. (2017). Law of Demand: Definition, Explained, Examples. [Online] The Balance. Available at: https://www.thebalance.com/law-of-demand-definition-explained-examples-3305707 [Accessed 18 August 2017]. Johnson, S. Supply, demand, and market equilibrium. [Online] Sophia. Available at: https://www.sophia.org/tutorials/economic-basics-supply-and-demand [Accessed 18 August 2017]. Khan, S. Law of Demand. [Online] Khan Academy. Available at: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/a/law-of-demand [Accessed 18 August 2017]. Khan, S. Law of supply. [Online] Khan Academy. Available at: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/a/law-of-supply [Accessed 18 August 2017]. Khan, S. Supply, demand, and market equilibrium. [Online] Khan Academy. Available at: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium [Accessed 18 August 2017]. Resnick-Ault, J. (2017). Oil falls despite steep draw in US crude. [Online] The Australian. Available at: https://www.theaustralian.com.au/news/latest-news/oil-falls-despite-steep-draw-in-us-crude/news-story/f89a7e35ae51086c13f40e8a03cb31b4 [Accessed 10 August 2017]