Poetry Paper Essay Example For Students

Verse Paper Essay Verse, dessert or the frightful veggies on your plate? As I opened up Billy Collins Sailing Alone Around the Room, I moaned out loud when I understood that it was an assortment of his verse. Verse is a point you either love or loathe. By and by, I detest verse, however I rather delighted in perusing this assortment. With points, for example, a cigarettes, books, and nightlife, there is a sonnet everybody can identify with on an individual level. Verse as a rule is not entirely clear; Billy Collins explicitly has a present for identifying with every Individual In his crowd. He could contact me through sonnet about espresso and another person with one about a dim club. In Billy Collins Sailing Alone Around the Room he takes each article and makes them essential, or in his own words peruser amicable, accommodating, friendly, inviting (Welch, standard. 28). While his principle point is to guarantee the peruser happiness in the event that they need it, more profound issues anticipate them in the middle of the lines. One of the sonnets that sticks out in my brain is Collins Introduction to Poetry. This sonnet Is a simple perused that carries a grin to the perusers face. While it is engaging, If one burrows further there is a greater Issue holding on to be revealed. We will compose a custom exposition on Poetry Paper explicitly for you for just $16.38 $13.9/page Request now The outside of the sonnet is truly basic. It enlivens a sonnet and what it should do versus what the peruser will in general do with it. The announcement behind this sonnet is that a few works are simply intended to be taken with no guarantees. He needs to see them to water-ski over the outside of a sonnet waving at the creators name on the shore (Collins 16). The image he paints with that Image reminds me off excursion. Ordinarily one ones on an extended get-away to get away from all work, It Is a chance to Just let the sun and day, or For this situation, the sonnet, wash over you. He at that point switches too Blvd image of ordure and torment, words a few people, myself notwithstanding, would use to depict verse. The peruser creatures beating it with a hose to discover what it truly implies (Collins 16). All the more frequently then not, we are so worried about what the shrouded message is inside the lines of the sonnet, the majority of us miss the straightforward delight of the words drifting over us, we miss the inclination. The Image of the mouse and the light switch address the Idea that we have to Just feel our own particular manner around the sonnet and discover the translation that works for us so we arrive at the finish of the riddle or the light turns on. He begins the sonnet off with the faculties. This might be to summon the consideration of the peruser. By and by, I think the purpose for the utilization of the faculties is to get sincerely engaged with the sonnet. A sonnet is a joy to the faculties. The image it makes, the scents, tastes, and sounds it makes the peruser review all happen in the sonnet about verse. Collins begins with sight (the slide) the sound (the hive). At that point he moves back to locate (the mouse) and afterward feeling (the light switch). The water-skiing can rely upon your recollections. On the off chance that you have been, possibly it reviews the smell of salt water. At that point we are left with the feeling of the sentiment of the tormenting of he sonnet. The last picture nearly incites the peruser to feel compassion toward the sonnet, making them need to give perusing it another attempt. The other sonnet that has clear Imagery and a ground-breaking message for the propelled youth with the image of dolls and a gigantic dollhouse, where most kids spent most of their available time. He at that point utilizes his creative mind and places himself in the dollhouse with the dolls. Once more, something a great many people have done previously. .udb2cbe2b391bfb00ee88fa3149536c46 , .udb2cbe2b391bfb00ee88fa3149536c46 .postImageUrl , .udb2cbe2b391bfb00ee88fa3149536c46 .focused content zone { min-stature: 80px; position: relative; } .udb2cbe2b391bfb00ee88fa3149536c46 , .udb2cbe2b391bfb00ee88fa3149536c46:hover , .udb2cbe2b391bfb00ee88fa3149536c46:visited , .udb2cbe2b391bfb00ee88fa3149536c46:active { border:0!important; } .udb2cbe2b391bfb00ee88fa3149536c46 .clearfix:after { content: ; show: table; clear: both; } .udb2cbe2b391bfb00ee88fa3149536c46 { show: square; change: foundation shading 250ms; webkit-progress: foundation shading 250ms; width: 100%; haziness: 1; change: mistiness 250ms; webkit-progress: darkness 250ms; foundation shading: #95A5A6; } .udb2cbe2b391bfb00ee88fa3149536c46:active , .udb2cbe2b391bfb00ee88fa3149536c46:hover { obscurity: 1; change: murkiness 250ms; webkit-progress: darkness 250ms; foundation shading: #2C3E50; } .udb2cbe2b391bfb00ee88fa3149536c46 .focused content territory { width: 100%; position: relativ e; } .udb2cbe2b391bfb00ee88fa3149536c46 .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: intense; edge: 0; cushioning: 0; text-embellishment: underline; } .udb2cbe2b391bfb00ee88fa3149536c46 .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .udb2cbe2b391bfb00ee88fa3149536c46 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt span: 3px; box-shadow: none; text dimension: 14px; text style weight: striking; line-tallness: 26px; moz-fringe range: 3px; text-adjust: focus; text-adornment: none; text-shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/straightforward arrow.png)no-rehash; position: outright; right: 0; top: 0; } .udb2cbe2b391bfb00ee88fa3149536c46:hover .ctaButton { foundation shading: #34495E!important; } .udb2cbe2b391bfb00 ee88fa3149536c46 .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .udb2cbe2b391bfb00ee88fa3149536c46-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .udb2cbe2b391bfb00ee88fa3149536c46:after { content: ; show: square; clear: both; } READ: Non Conformity in The Wave by Morton Rhue EssayIt is something natural. Underneath, the sonnet discusses being in charge and being controlled. I imagined that the sonnet sent a significant subtle cue to the peruser. While on a superficial level, clearly Collins is discussing dolls and how the individual they have a place with controls their developments, on a more subtle level, the perusers need to ask themselves who is controlling him before the finish of the sonnet. Is it accurate to say that he is saying something about society or our administration? Possibly on a less discouraging note he is discussing his composition. A few e ssayists state their composing has its very own existence. They don't have a clue where it takes them until they are there. I waver to state that is the thing that he implies on the grounds that Collins doesn't make it sound like something he sees as a positive occasion or something he even appreciates. The line Nerdy clever, yet how might you like it in the event that you never knew starting with one day then onto the next on the off chance that you would spend it striding around like a distinctive god (Collins 97) and the remainder of the sentence makes it sound like he thinks it is an awful method to go through the day. The last line with your little plastic face (Collins 97) I feel has some hugeness. The plastic faces on Barbies are fixed demeanors. They don't change and you can't peruse their faces along these lines. Possibly Collins is attempting to communicate the possibility that when you are being constrained by something, even your feelings, you set up a blur to secure yourself room your environmental factors. You can't regularly tell on the off chance that somebody is discouraged or have individual issues from what they look like. To make that a stride further, the purpose for the mystery of issues like that are society driven, which takes me back to the possibility that he is saying something about the job of society in our regular day to day existences. Once more, the extraordinary thing about verse is that is could mean various things to various individuals. The understandings that I thought of are wrong, wrong, or the best way to peruse the sonnets. With Introduction to Poetry incidentally enough, somebody may not decipher the sonnet at everything except take it for what it is. A few people may even be persuaded that Collins was saying something about how individuals are instructed to understand verse, less how they read it. Or maybe he might be concentrating on the showing strategies for instructing verse. The we in the sonnet might be the instructive position figures as a solitary body. With Some Days, a few perusers may decipher the sonnet as discussing a sentiment of secrecy inside society. He has a feeling that he is Just another plastic face with a fixed demeanor in an earthy colored suite. The last two verses may even show to somebody that while you may be unknown here and there it really is great If you were going to Penn it striding around like a striking god, your shoulders in the mists (Collins 97). Indeed, even the possibility that he needed to incorporate the line Nerdy Funny (Collins 97) demonstrates that he discovers some cleverness or even good cheer in the circumstance. At the point when everything is said and done, Billy Collins Sailing Alone Around the Room is a decent book to get regardless of what your inclination is in understanding material. Originating from somebody who doesn't discover any pleasure in verse whatsoever, it was a decent difference in pace. Collins can take a regular item, for example, a pencil holder or a pencil sharpener and make it into a two page long issue on society. In the event that you have any sonnets that stood apart to me may have a few subjects covered up underneath the outside of the words on the page, I unequivocally encourage the peruser to Just leave the words alone for the initial hardly any occasions you read the works. At that point on the off chance that you are truly keen on burrowing for more profound implications, at that point take yourself out. In the case of nothing else, this assortment has brought back the beginning of perusing where you Just delighted in the sound and the implications of the words, and not considering what the creator was truly thinking when he/she composed it. Get away and read the book for what it is, words on a page.

Foreign and Local literature Essay

Examinations in any zone spring from past information. Regardless of how insignificant or broad they will be, they serve to a limited extent as gauge information. This Chapter presents the writing/references accumulated by the analyst. These examinations included outside and neighborhood contemplates/writing having immediate or circuitous bearing on the current investigation. Straightforward Pogue (2000) did an exploration undertaking to decide why understudies fizzle. What he establishes to be valid in that review propensities overview was that over 30 years prior still sounds valid today-understudies come up short since they don't have the foggiest idea how to consider. The best guidance he can offer is to create sound examination abilities. He said that an understudy should ensure that he/she has a decent report condition, a great work area, a solid seat, great light, agreeable room temperature and a calm environment. That implies he/she ought to wipe out all outer and interior interruptions. Second, get a decent diagram of the task before beginning the work. Comprehend what aptitudes, realities and thoughts that are relied upon to ace and the ground that are required to cover. Start with most troublesome subjects first, while the psyche is freshest and generally responsive. In his trial concentrate on the impact of learning, Winter expressed that the first and likely the most significant thing required was to get the propensities for concentrating successfully. Viable strategies for study comprised essentially of those basic standards which underlaid effectiveness. Accomplishing one’s work consistently, remaining at it until it was done and not getting behind in it ought to be the general aides for fruitful investigation just as in any field of try. It was expected that the understudies had capacity enough to adapt effectively to the scholastic errands. The achievement of the reactions to the assignment depended in incredible measure to their endeavors. Perusing is an endeavor to assimilate the idea of the creator and recognize what the creator is passing on (Leedy 1956). Study propensities have been characterized as the disposition of one individual towards their scholastic year throughout everyday life. It has been additionally concentrated by numerous specialists. Truth be told, as indicated by analyst John M. Grohol, the investigation propensity for understudies is influenced by its condition. Because of that, he proposes that understudy should concentrate in more brilliant manner. Thus he gives ten compelling examination propensities to help the understudies with their homework. These ten successful investigation propensities are the accompanying: 1. Improve your examination attitude by intuition emphatically towards study, keeping away from cataclysmic and supreme deduction, for example, self indulging, and finally, abstain from contrasting yourself as well as other people. 2. Condition matters in concentrating so it would be better on the off chance that you locate your optimal spot that suits your considering approach. 3. Bring all that you don't require anything, you don’t. Through this examination propensity, you will have the option to concentrate more on your homework and you will maintain a strategic distance from such devastation. 4. Framework and audit your notes. 5. Use memory games or mental aides in retaining snippets of data with respect to your examinations. 6. Practice by all alone or with companions since careful discipline brings about promising results. It can likewise help you to recollect your exercise without any problem. 7. Cause a calendar you to can adhere to and being focused on it thwart you from packing. 8. Take breaks and rewards. These breaks will encourage you to do your homework all the more productively and adequately. Then, the prizes could be use as your inspiration in examining. 9. Keep sound and parity. In spite of the fact that it is hard to carry on with a healthy lifestyle while in school, you should consider that the more adjusted you look for in your life, the simpler for you to conquer each segment in your life. Being sound likewise, gives you more vitality to carry out your responsibilities. 10. Realize what are the desires are for the class to abet you comprehend the course prerequisites and the professor’s desires.

Closing Paragraph in Career Essay Samples

Closing Paragraph in Career Essay SamplesA very common mistake among students is including a closing paragraph in career essay samples. The reason behind this is that they do not have enough time to think of ways to end their essay.You may have a particular topic or type of writing in mind and want to have a certain word to finish your article with. If you forget the use of the closing paragraph, you will not be able to include your closing statement. On the other hand, if you use the right way, you can be assured that your readers will find it interesting and meaningful.The idea behind using a closing paragraph is to finish your work quickly. You should finish your essay in only five to ten minutes. During this period, you should be focusing on one single task. This means that you should not be going back and forth between ideas. Instead, you should write down everything you have learned and decide how to end your article.In general, students may find it easy to write the closing pa ragraph. However, they often forget to consider the styles. It is essential that you use the right style and words.There are several common mistakes when writing the closing paragraph. First, they use the same writing as the first paragraph. For example, you may start with an introduction or personal history. Once you have finished telling the readers about yourself, you may move to your personal experience or skills. It is very likely that your readers will get confused and think that you start your essay from scratch.Second, the writers may talk about specific skill. They may make comparisons to other writers. They may also imply that others are able to create similar information. Again, this can confuse your readers and make them think that your personal experience is better than other writers'.Third, they often show that they are very excited about something. They may try to convince readers that their skills are the best and that other writers are not skilled enough to apply th eir skills. This will ensure that they get high marks and get points based on their experiences.Last, the writers often show that they lack experience or expertise in a specific topic. They may be talking about the experience in a specific field, or skills in a particular field. Once again, they will try to convince readers that they are able to apply their skills to the topic. However, they forget that they do not know how to finish the article.

How Sleep Affects The Brain - 1929 Words

Andrea Hill Mrs. Gumina English III March 20, 2014 11 Days Awake zzzzzz...are you tired? I know I am...of writing this paper! In fact most of the kids in class are probably tired too. Surprisingly, according to WebMD, about 20% of Americans get less than six hours of sleep on average a night (1).With all the hustle and bustle of our daily lives, it is understandable to push sleep off. Harvard University has conducted extensive research, discovering how sleep affects the brain; â€Å"given that a single sleepless night can cause people to be irritable and moody the following day, it is conceivable that chronic insufficient sleep may lead to long term mood disorders† (1). Just one night of not sleeping can put one in a bad mood, much less consistent loss of sleep. But how does lack of sleep affect others around us? Sleepiness and sleep deprivation can be accounted for roughly one million car crashes annually in The United States. (Harvard Medical School 1). It is easy to understand that sleep loss is something that affects a ma jority of the people living in the U.S. and sleep deprivation is something that not only affects us, but affects those around us. Scientists speculate that during the night various sleep cycles playa role on consolidating memories in the mind (Harvard Medical School 3). So knowing that sleep plays such a critical part in the growth and development of our brain, then why do we put it off in order to finish other tasks? And in doing so, what neurologicalShow MoreRelatedHow Sleep Affects The Brain1309 Words   |  6 PagesSleeping affects the brain in ways that cannot be achieved by any other method, at least naturally. Lack of sleep is consistent with â€Å"higher levels of depressed mood, fatigue, and sleepiness,† which is observable in any person, but this trend is especially more true for adolescents, because of their developing brain and increased workload. (Fuligni, 2006) Students around the age of fourteen and fifteen are transitioning from middle school into high school and are forced to interrupt their previouslyRead MoreThe Emotional, Physical and Mental Effects of Sleep Depravation1054 Words   |  5 PagesIs sleep important? The answer is yes, more important than imaginable. However, not everyone needs the same amount. The amount of sleep needed depends on the age of the person. Infants typically need approximately 16 hours a day while teenagers need approximately nine hours on average. Most adults need about seven to eight hours (â€Å"Brain Basics: Understanding Sleep†). How much sleep someone gets is very important. Not getting enough sleep can result in many dysfunctions throughout the day. Loss ofRead MoreSleep On It ! Scientific American1010 Words   |  5 PagesYoung Article #2 Stickgold R. 2015. Sleep On It! Scientific American 314:52-57. Questions: 1) How does lack of sleep affect organs in the body? 2) What are prions and why do they cause deterioration in the brain? 3) If familial insomnia is caused by inherited prions, what gene codes for them? 4) Do non-traditional sleep habits (taking several naps instead of sleeping all at once) have the same affect as lack of sleep? 5) Does sleep have some affect on chronic illnesses such as their developmentRead MoreSleep Is Essential For Human Health911 Words   |  4 Pageskingdom to humans. All of them need to sleep as a need for food, it is a necessity for life. Sleep is important and necessary for human health and its ability to engage in intellectual activity and mental fitness. Everyone needs to sleep, one of the basics of life. Humans spend almost half of lifetime sleeping and then have to know how to keep the body in a good sleeping time. Many of the physical problems can interfere with the ability to fall or stay asleep. Sleep is important; because it helps humanRead More`` The Influencing Machines ``924 Words   |  4 Pagesbecoming a bigger issue every day, and now it affects one of our basics psychological needs: sleep. Though I concede with Brooke Gladstone, author of â€Å"The Influencing Machines† that we can adapt to technology as it grows, I still insist that some issues that arise wi th technology are bigger than Gladstone portrays and we need to find solutions for some of the bigger problems that technology creates, especially when it disturbs a basic psychological need. Sleep is a huge part of our lives. On average,Read MoreSleep Deprivation Essay1183 Words   |  5 PagesSleep is a necessity that people require to live a healthy lifestyle, and to partake in daily activities. Sleep is something that improves concentration, physical health, and provides energy. Steve Jobs once said, â€Å"For you to sleep well at night, the aesthetic, the quality, has to be carried all the way through.† Steve Jobs is proclaiming that to receive the full benefits of sleep, people must sleep the recommended hours. College students continue to undergo a lack of sleep as they persist throughRead MoreThe Effects Of Sleep Deprivation On Children1182 Words   |  5 PagesFor those who work long shifts; For those who try to compensate for their lack of sleep during the weekends; For those who simply like to stay up all night: lack of sleep could cause irreparable brain damage. Deprivation of long-term sleep hours could weaken brain energy even after days of sleep r ecovery. And it could be a sign of permanent brain damage. The consequences of not sleeping or not sleeping enough are serious, not only for the person who is not resting enough, but also for the peopleRead MoreWhy Is Sleeping Important?858 Words   |  4 Pagesto rest, starting from the animal kingdom to humans. Just like food, sleep is a necessity of life. Sleep is important and necessary for the body’s health and the mind’s ability to engage in intellectual activity and mental fitness. Since humans spend almost half of their lifetime sleeping, they should know how to sleep right. Many physical problems may interfere people’s ability to fall or stay asleep. It is important to sleep well because that helps to boost memory, be active, reduce chronic inflammationsRead MoreSleep Is The Best Medicine1174 Words   |  5 PagesSleep is known to be the best medicine when it comes to healing and resting the body. Resting and sleeping is known to be important for healthy living as well as deficiency of sleep can lead to major harm. The reason sleep is so important is because sleep allows the conscious mind to sleep and replenishes body physically. When we do not sleep we are over working the organs and our brain. Many of students and adults around the world are losing sleep because of school and work respectively. This affectsRead MoreThe Theory, The Energy Conservation Theory1419 Words   |  6 PagesIntroduction: what is sleep: Sleeping is something that most creatures of the animal kingdom have in common. A period of time where the body seemingly ceases to function. The average human is supposed to sleep 7-8 hours a day, and although this varies from species to species, the core function stays the same.The dictionary definition of sleep is â€Å"the natural state of rest during which your eyes are closed and you become unconscious†.(Sleep, n.d.) Although it seems like nothing is happening when

Working Out Payback Periods Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1074 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Because there is capital rationing, profitability index (PI) will be the best method to apply in deciding which projects the company should undertake. Profitability index will show the return on investment and not just the absolute profit like the Net present Value. But before appraising the proposals using profitability Index, the entire methods used in question one will be used. PAYBACK PERIOD Using pay back period method to assess the proposals, proposal 5 would rank 1st because it can pay back the capital invested in one year. 2nd is project 3 which has an outlay of E200, 000 and can repay same in one year and four months. Since there is limited fund available to E 300,000, the AP Plc would only carry out proposals 5 and 3. Don’t waste time! Our writers will create an original "Working Out Payback Periods Finance Essay" essay for you Create order NET PRESENT VALUE Based on the Net present Value (NPV), AP Plc can only carry out proposals 5 and 2. Proposal 5 will give the company a net present value of E195,300, while proposal 2 will give a net present value of E70,140. In total the company will generate a net present value of E263,440. Having discounted the cash flows with the companys cost of capital of 10%. PROFITABILITY INDEX (PI) Based on profitability index, proposal 5 ranked 1st, proposal 4 ranked 2nd , proposal 1 ranked 3rd , proposal 2 ranked 4th and proposal 3 ranked 5th. Profitability index shows the net present value in relation to the amount invested or initial outlay committed to the project. While Net present value gives the absolute discounted profit, the profitability index relates the profit to the amount invested thereby showing the return on investment. Due to capital rationing, AP Plc only has E300,000 to commit into the projects, therefore only proposals 5, 4 and 1 in that order will be considered appropriate. INTERNAL RATE OF RETURN (IRR) IRR is the rate of return that will make the net Present value to be zero, therefore it is the hurdle rate. It is the breakeven rate and it is the minimum cost of capital for the project. Based on IRR, only projects 5 and 3 will be undertaken since the initial outlay of the two proposals totaled E270,300 and the company has only E300,000. CRITERIA APPLICABLE I will recommend the profitability index as it gives the return on investments. Therefore, projects 5, 4, and 1 should be undertaken. OTHER FACTORS THE DIRECTOR MAY CONSIDER There are other factors that the Directors should consider when making decision apart from the quantitative factors. Some of the other factors are discussed below: NON FINANCIAL BENEFITS The Directors should consider non financial benefits that may arise from each proposal like motivation of staff, relationship between the company and suppliers, better quality of the product which may lead to greater market share, improved staff training which will help productivity and reduce labor turnover, and other benefits which may arise. CASH FLOWS AFTER FIVE YEARS Cash flows after five years should also be considered greatly because the company is expected to be in existence even after the five years under consideration. Some projects will bring benefit, cash inflows after the five years as well as cost saving while some proposals will only generate cash outflow after five years. CORPORATE OUTLOOK (BRANDING) Some proposals will improve the corporate outlook of the company. Outsiders will respect the company thereby bringing better branding to the company. Proposals like research and development, extra ware house, improved information technology, infrastructure like proposal 2 and quality assurance scheme are good example of such proposals. These should be looked into. OPPORUNITY COST Opportunity cost of benefits from proposals not undertaken should also be considered when making decision by the Directors. TAXATION Taxation leads to a change in cash flow ,it should be considered when appraising the proposals. Taxation payment reduces cash flow of each proposal. The analyst therefore need to know the amount of tax liability and when due for payment. INFLATION Inflation is the increase in average price of goods and services .Attempt should be made to estimate specific inflation for each proposal in order to make a good decision. 4) IRR(Internal Rate of Return) is the true interest rate earned on an investment during its economic life.Its also known as discount rate of return.IRR is widely used in practice because its the discount rate that gives zero NPV(Net Present Value).IRR relates the size and timing of the cash flow to the initial investment. IRR is the rate compared to the companys original/set rate. If IRR is greater, than the opportunity cost of capital, the investment is profitable and will yield a positive NPV. Moreover , an IRR to be accepted on any project must be greater than or equal to companys required rate of return unless some other factors dictates its acceptance. IRR calculates the rate of return required to make sure total NPV is equal to the total initial cost. Merits of IRR It places emphasis on liquidi ty. It put into consideration the time value of money. Its widely used in practice. It helps to get a clear percentage rate of return on investment. An appropriate rate of return does not necessary need to be calculated. NPV(Net Present Value) measures the absolute return on a project. Here the cash inflow is compared with the cash outflow.The difference betweens the two PV is Net Present Value. NPV is another way of determining whether or not a project should be executed.It takes into consideration the time value of money. A project with a positive NPV should accepted (except other factors dictate its acceptance), while a project with a negative NPV be rejected because it does not cover the cost of capital. The positive NPV means the projects return exceeds the discount rate ,while negative value means the project return is less than the discount rate . The cost of capital is compared with the project rate of return Merits of NPV The time value of mone y is also taken into consideration. Emphasizes the importance of liquidity by the use of net cash flows. The usage of different accounting policies are not important because they dont determine the calculation on net cash flows. Its simple to compare NPV of projects and reject project with a negative NPV. It does not require calculating different rates of returns as in IRR. It focuses on Cash flow ,rather than profit and prevents the understatement of returns. A project with a positive NPV increases the wealth of the company. NPV is technically superior to IRR. Its also superior for ranking investment in order of attractiveness.

A Brief Comparison of Historical Paths for the Clinical...

A Brief Comparison of Historical Paths for the Clinical and Counselling Streams of Psychology The current practices of the clinical and counselling psychological streams are not entirely dissimilar as both are concerned with the application of psychotherapy, education, research, and instruction (Mayne, Norcross, Sayette, 2000; Norcross, 2000). Clinical psychology is primarily concerned with the assessment, treatment, and study of populations who experience severe mental illness (Bechtoldt, Campbell, Norcross, Wyckoff, Pokrywa, 2000; Norcross, 2000) clinical psychologists mostly employ behavioral and psychoanalytic theoretical orientations when treating clients (Norcross, 2000). In contrast, counselling psychologists generally aim†¦show more content†¦He was more concerned with the classification of mental illness than methods of treatment, which led to his 1907 publication ‘The Psychological Clinic’, in which the term ‘clinical psychology’ was first officially mentioned (Reisman, 1976; Watson, 1953). Parallels can be seen between the begin nings of clinical and counselling psychology in terms of their mutual focus on children, their aims of social reform, and the period of time in which they were officially recognised. While the ‘age’ of counselling psychology is not as great as that of clinical psychology, its history is nonetheless remarkably detailed (Gladding, 2013). Many counselling psychologists agree that the profession’s genesis coincides with the aftermath of the Industrial Revolution. It was in this era—specifically, 1908—that social reformist Frank Parsons founded Boston’s Vocational Bureau, and a year later released the book ‘Choosing a Vocation’ (Gladding, 2013). The publication documented Parsons’ investigation into the careers now available to adolescent boys (Gladding, 2013). He was interested in this particular topic as the Industrial Revolution had given rise to many new employment opportunities, with the result that the boys of his investi gations would no longer need to fall into the same occupations as their fathers (Ginter, 2002; Gladding, 2013). Not only was this the first documented case of careers counselling, the publicationShow MoreRelatedOrganisational Theory230255 Words   |  922 PagesTitle. HM786.M33 2007 302.3’5—dc22 2006022347 10 9 8 7 6 5 4 3 2 1 10 09 08 07 06 Typeset in 10/12.5 pt sabon by 72 Printed by Ashford Colour Press Ltd., Gosport The publisher’s policy is to use paper manufactured from sustainable forests. . Brief Contents Preface List of figures List of tables Acknowledgements xiii xvii xix xx 1 2 3 4 5 6 7 8 9 10 Introducing organization theory: what is it, and why does it matter? Modernist organization theory: back to the future? Neo-modernist

Super Project free essay sample

The Super Project case mainly deals with the efficiency of project tool analysis in capital budgeting process. The three techniques that General Foods management used to determine whether Super Project was a worthwhile project were: †¢Incremental basis †¢Facilities-used basis †¢Fully allocated facilities and costs basis The three techniques mentioned above will be discussed in more details in question 4 below. What are the relevant cash flows for General Foods to use in evaluating the Super project? In particular, how should management deal with issues such as: )Test-market expenses? b)Overhead expenses? c)Erosion of Jell-O contribution margin? d)Allocation of charges for the use of excess agglomerator capacity? Typically, when using Net Present Value (NPV) method to determine whether a project adds value to the organization, free cash flow is taken into consideration. Depreciation expense, a non-cash item, is to be added back to the operating profit after tax to give operating cash flow. Other expenses such as SGA and fixed costs are to be included in operating cash flow calculation. Change in net working capital (current assets – current liabilities) and capital expenditure are added to the operating cash flow to calculate free cash flow. Test-market expenses are usually considered as sunk costs, and thus, should not be included in the expenses category. Overhead expenses refer to ongoing expenses of operating a business and are fixed costs. We can see from Exhibit 3 that there was a substantial increase in the SGA expenses from 1958 to 1967 of more than 100% increase. Therefore, overhead expenses should be counted towards expenses when calculating the free cash flow. Twenty percent of the 10% expected Super volume would come from the erosion of Jell-O sales. Although we do not have any data indicating the impact of Super on Jell-O contribution margin, it is safe to assume that as in any new product launches, when cannibalization kicks in, the impact on existing product’s contribution margin should be quite substantial. In addition, Super fell into a profit-increasing project. The increase in Jell-O volume was 40% between August and September 1966. Coupled with the high growth expected for the Super project, excess agglomerator capacity might be needed sooner than later. So, the allocation of charges for excess agglomerator capacity should be included. 2. How attractive is the investment as measured by various capital budgeting techniques (i. e. , ARR, Payback, IRR, NPV)? How useful are each of these measures of investment attractiveness? Accounting Rate of Return (ARR) is one of the methods used internally in an organization to select projects. The rate of return is simply calculated by dividing average operating profit by average investment. Its biggest advantage is that it is very easy to calculate. In addition, with the operating profit numbers coming from the balance sheet of the company, ARR method adds credibility to the market because market follows accounting numbers closely. However, with balance sheet also comes the problem of accounting manipulation. The biggest drawback in ARR is that it does not account for time value of money. Longer term forecasts are not adjusted properly with the level of risks involved. As a result, it tends to favour higher risk decisions. Payback period is a method used to determine how much time is needed to recover initial investment of a project. It is calculated by dividing the cost of the project by annual cash inflows. The shorter the payback period, the better the project is. Similar with ARR, the method is easy to use. However, the method does not adjust for the risks involved and also ignores time value of money. The Internal Rate of Return (IRR) of a project is the interest rate that will yield net present value of zero. In other words, it is the discount rate at which the present value of a series of investments is equal to the present value of the returns of those investments. When IRR of a project is higher than WACC (weighted cost of capital) of the organization, the project should be financially viable and thus, accepted. A project may have more than one IRR, especially when returns of an investment yield negative cash flows following positive cash flows. Net Present Value (NPV) calculates the sum of discounted future cash flows and subtracting that amount with the initial investment of the project. If the NPV of a project results in a positive number, the project should be undertaken. It is the most widely used method of capital budgeting. While discount rate used in NPV is typically the organization’s WACC, higher risk projects would not be factored in into the calculation. In this case, higher discount rate should be used. An example of this is when the project to be undertaken happens to be an international project where the country risk is high. Therefore, NPV is usually used to determine if a project will add value to the company. Another disadvantage of NPV method is that it is fairly complex compared to the other methods discussed earlier. While NPV method may be a more accurate way in capital budgeting process, it is worthwhile to note that because of the longer time it takes to generate the data (using the proper discount rate, for example), other easier and simpler methods like payback and ARR can be used as initial rough guides in the process. 3. How attractive is the Super project in strategic and competitive terms? What potential risks and benefits does General Foods incur by either accepting or rejecting the project? Super project is expected to capture 10% share in the total dessert market. From Table A, it can be seen that the powder market, which Super is properly categorized into, grew at around 62% between August and September 1966. With projected 10% market share in a fast-growing powder market, Super project strategically is very attractive for General Foods Corporation. In addition, Super project is a profit-increasing initiative, which would indicate that Super is definitely very competitive in the market. The profit-generating Super project may come from the incremental cost of the excess agglomerator capacity. Currently, the capacity is under-utilized and Super project may take advantage of the excess capacity to generate sales and profits. However, when business picks up both in the Jell-O and powder markets (growths of 40% and 62% respectively), General Foods will need to invest in more capital in the long-run. Nevertheless, Super project is still an attractive project to undertake for General Foods Corporation. 4. Should General Foods proceed with the project? It was General Foods’ policy that new projects should be evaluated based on two criteria, payback and ROFE (Return on Funds Employed). The general rule of thumb is that the project should have payback period of up to 10 years and minimum ROFE of 20%. General Foods management used three different techniques in determining whether they should invest in the Super Project. The simplest is incremental basis, where the project is evaluated based on incremental revenue and investment. However, Super project would extensively utilize the existing facilities that could otherwise be used for alternative uses. As a result, incremental basis would overestimate the ROFE. It was estimated that the ROFE would yield 63% under this method. Since Super project would utilize half of the existing agglomerator capacity and two-thirds of the existing building, facilities-used basis method would involve adding these costs to Super accordingly. This method yielded ROFE of 34%. Fully allocated basis added more overhead expenses and capital to Super project, on the basis that after year 5 of the whole 10-year evaluation period, more fixed costs and facilities would have to be incurred. This was more of a conservative approach for General Foods upper management to see how much returns, if at all, they would reap from a project. This method would give 25% ROFE. It is clear that from the three techniques briefly discussed above, General Foods management should proceed with Super project. At the end of the day, the three techniques, each with its own limitations, served as sensitivity analysis to upper management regarding the Super Project. In this case, the ‘worst’ case scenario from Super project would yield the company 25% ROFE, which was still higher than the company policy of 20%. However, the downside to these three techniques is that they ignore time value of money. The case was written in 1960s, where the concept of NPV was still unknown at the time. Therefore, it would be interesting to see how Super would perform using the NPV method. A challenge, in this case, is determining the proper discount rate for General Foods because of limited information in the case. Nevertheless, another sensitivity analysis can be done with different discount rates to find out if Super project is indeed profitable.