Lord Of The Flies Essays (784 words) - Literature, Fiction

Lord of the Flies Annonymous The Adventures of Huckleberry Finn by Mark Twain is, not and should not, be considered a child's story. A story like this may corrupt a young child's mind. It deals with adult themes and concepts that are generally not suitable for young children. Als o, if used as a child's story it may confuse them or give them the wrong idea about slavery and the terminology of the time. First of all, The Adventures of Huckleberry Finn is extremely inappropriate for children because it may put bad ideas into a young impressionable mind. At the young age of about twelve, Huck is roaming around the woods all by himself and later on is flo ating aimlessly down the Mississippi River with a bunch of criminals. Huck is living what may appear to the children to be a very exciting and glamorous life. Most parents would never steer their children the wrong way in life, don't want to tell childr en about a kid around their age or little older than they are that is homeless and basically cheating and stealing to survive. This novel explains in depth about various scams such as the Wilks brothers scam, and the teaching schools like the dancing sch ool or yellow cution. In addition to the royal nonesuch plays which teach children that all you need to do is take the money and run like the King and the Duke did. After reading this novel the majority of children won't go out and try to scam their n eighbors. However, it may seem like an appealing lifestyle for them. It may also give them the impression that being a con man for a living, or being homeless and wandering is a wonderful and glorious carefree lifestyle, and because your Mommy or Daddy tells it to you, it must not be the wrong thing to do. In addition to giving the wrong idea about life, it is a brutal and vulgar book that children should not be exposed to. There are a couple of deaths like when Colonel Sherburn kills a harmless town drunk named Boggs. Earlier on Huck is staying with a the Grangerford family that is in the middle of a feud with the Shepherdson family. Buck, the youngest child, is about Huck's age. Buck speaks of murdering all of the Shepherdsons for a reason he doesn't even know of. Eventually Buck is killed by a She pherdson right in front of Huck's eyes. The King and the Duke are tarred and feathered later on and Huck doesn't really think twice about it. Huck also encounters a wreck on the river with two criminals on it that are going to leave a third one on there to die. Not to forget the alcoholic and abusive father that is killed in a whore house. Which is just another example of how vulgar this story is. Furthermore, not only is the plot very adult, the language is also unsuitable for children. The Adventures of Huckleberry Finn takes place in the pre-civil war south. At this time slavery is very common and is condoned by society. Black people were tho ugh of as property and treated extremely poorly and inhumanly. When Huck makes up the story on why he, Tom, was late getting to Aunt Sally's house he explains that a cylinder head had blown up. When Aunt Sally asked if anyone was hurt Tom says that nobody was hurt, just a couple of niggers were killed. Aunt Sally was relieved and said good, because sometimes people get hurt. This is an example of how black people were treated. Not as real people but as property or luggage. Huck would have gott en a similar reaction if he told her that someone had their suitcase broken. The niggers were left to live in shacks near the Phelp's house. Treating black people that way is not a setting a good example for today's youth. We've all made mistakes and the United States made a huge one with slavery, reading to your kids about niggers being killed and treating niggers as servants is not helping us teach today's children that slavery and racism are a bad thing. Another th ing that is unsuitable for children is the excessive use of the word nigger. This was a book written a long time ago and nigger may have been a common term to use. However, we shouldn't teach children in today's society to call black people niggers. In conclusion, Huck Finn is not a child's book and

What Does It Mean to Be Partisan

What Does It Mean to Be Partisan If youre a  partisan, it means you  adhere firmly to a political party, faction, idea or cause. You  likely live in a bright red or dark blue district or state. You  exhibit blind, prejudiced, and unreasoning allegiance and never speak ill of another member of your tribe, according to the standard Merriam-Webster definition. Being a partisan is  the opposite of being a swing voter or independent in politics. To put it bluntly, being a partisan isnt a good thing. So. How can you tell if youre a partisan? Here are five traits. 1. You Cant Talk Politics Without Getting Angry If you cant talk politics with people and still stay friends, youre a partisan. There are no two ways about it. If you cant talk politics without the conversation ending in bruised egos and hurt feelings, youre a partisan. If you cant see the other side of an issue and storm off abruptly from the dinner table, youre a partisan. Seek your inner peace. And understand this: Youre not right about everything. No one is. A synonym of partisan is ideologue. If youre an ideologue, it means youre an adherent to a rigid ideology. You dont like compromise.  And youre probably difficult to talk to.   2. You Vote the Straight Party Line If you show up to the voting booth without doing your homework and pull the lever for the straight-party ticket every time, youre a partisan. In fact, you match the definition of a partisan to the T: someone who exhibits blind, prejudiced, and unreasoning allegiance to a political party. If you dont want to be a partisan, heres a handy guide to everything you need to know to prepare for Election Day. Hint: Vote for the best candidate, not the party. 3. You Watch MSNBC or FOX News Theres nothing wrong with watching MSNBC or FOX News. But lets call it what it is: Youre choosing a source of news and information that supports your world view. If you lean lift, youre probably watching Rachel Maddow on MSNBC. And only MSNBC. If you tilt to the right, youre tuning in to Sean Hannity and FOX, and tuned out the rest. And, yes, if you do this youre a partisan. 4. You Chair a Political Party OK. To be fair, it is some peoples job to be partisan. And those people happen to be working in the political arena. That is, the parties themselves. If youre the chairman of the Republican National Committee or the GOP organization in your hometown, it is function to be a partisan. Thats why you have the job: to support your partys candidates and get them elected. Stated President Harry Truman: There was never a non-partisan in politics. A man cannot be a non-partisan and be effective in a political party. When hes in any party hes partisan. Hes got to be.   5. You Violate the Hatch Act Lets hope things dont get this bad. But if youre a government employee and youre found to have violated the federal Hatch Act, youre behaving as a partisan would behave. The Hatch Act of 1939  placed limits on the political activity of executive branch employees of the federal government, District of Columbia government, and some state and local employees who work in connection with federally funded programs. The law is intended to prohibit taxpayer-supported resources from being used in partisan campaigns; it is also intended to protect civil service employees from partisan pressures from political appointee managers. What does that mean? Well, lets say you work for an agency that is funding at least in part by the federal government. Under the Hatch Act you cant campaign for office or engage in any similar political behavior. Youve got to quit your job first. The federal government doesnt like allocating taxpayer money to agencies whose workers are behaving as partisans. In Defense of Parties and Partisanship Partisanship is the fundamental behavior that allows the two-party system to remain in place in the U.S. And the existence of parties, according to some astute political philosophers, are vital.   The philosopher and political economic John Stuart Mill, writing in On Liberty,  defended partisanship: A party of order or stability, and a party of progress or reform, are both necessary elements of a healthy state of political life.† The economist Graham Wallas also described parties favorably. Something is required simpler and more permanent, something which can be loved and trusted, and which can be recognized at successive elections as being the same thing that was loved and trusted before; and a party is such a thing. And  Moisà ©s Naà ­m, a distinguished fellow at the Carnegie Endowment for International Peace, has written about the need for permanent organizations that earn political power and govern, that are forced to articulate disparate interests and viewpoints, that can recruit and develop future government leaders and that monitor those already in power. Nonpartisan, Bi-Partisan and Post-Partisan Definitions There are a couple of antonyms to the word partisan, and a relatively new term - post-partisan. What do they all mean? Nonpartisan: This  term describes the behavior of political figures who may belong to disparate factions and parties when they work together on nonpolitical issues, such as raising money for charity or helping with some civic issue in their home state. Bipartisan: This term describes the behavior of elected officials or citizens who otherwise disagree on policy issues and belong to disparate factions or parties when they work together toward a common political goal. Bipartisanship is rare on major issues in modern American politics.  Ã‚   Postpartisan: This term, which has come into wide use since President Barack Obamas election in 2008, describes the work of Republicans and Democrats to reach compromise on policy issue without abandoning ties to party or principals. Post-partisanship has its roots in President Thomas Jeffersons inaugural speech: Every difference of opinion is not a difference of principle. We have called by different names brethren of the same principle. We are all Republicans, we are all Federalists, he said. Obama, a Democrat running for president in 2008, promised to deliver such a postpartisan presidency by embracing Republicans and independents. His remarks resonated among the electorate. I think that there are a whole host of Republicans, and certainly independents, who have lost trust in their government, who dont believe anybody is listening to them, who are staggering under rising costs of health care, college education, dont believe what politicians say. And we can draw those independents and some Republicans into a working coalition, a working majority for change, Obama said. [Edited by Tom Murse]

Being Bad in Spanish is Malo

Being Bad in Spanish is Malo Malo is a common Spanish adjective meaning bad or in some way undesirable. The translation can vary depending on context. Its feminine form is mala, and through the process of apocopation, which is shortening, it can become  mal when it comes before a singular masculine noun. Its usual adverb  form is mal, although the another related adverb form,  malamente, can be used to mean badly. As an adjective, malo, mala or mal can almost always be translated as bad, although other translations may be more suitable depending on the context. The plural forms are malos and malas. Mal-  is also a prefix that typically means bad or undesirable. An example of that would be maleducado, which means impolite, as someone who didnt learn their manners. Mal, Malo, Mala, Malos and Malas Used as Adjectives Form of Malo Spanish Sentence English Translation malo Quiero comprar un coche y tengo crdito malo. I want to buy a car and have bad credit. mala Muchas personas consideran que tienen mala memoria. Many people think they have a poor memory. malo No hay libro tan malo del que no se pueda aprender algo bueno. Theres no such thing as a book so bad that you cant learn something good from it. mal No puedo eliminar el mal olor de refrigerador. I cant get rid of the bad refrigerator smell. malo Hay algo malo con mi telfono? Is there something wrong with my telephone? mala El principal causante de la mala circulacin es la arterioesclerosis. The main cause of poor circulation is atherosclerosis. malas No estoy preparado para escuchar las malas noticias. Im not prepared to hear the bad news. malos Son los jugadores ms malos de la galaxia. Theyre the worse players in the galaxy. mal Los superhroes son un mal ejemplo para los adolescentes. Superheroes are a bad example for adolescents. Mal Used as an Adverb Common translations for mal as an adverb include badly and poorly, although others can be used as well to fit the context. Spanish Sentence English Translation Nadaron mal en el mundial. They swam poorly in the world competition Nuestro equipo estaba mal preparado. Our team was poorly prepared. Nuestros hijos comen mal. Our children eat poorly. Muchos pacientes estn mal diagnosticados. Many patients are incorrectly diagnosed. Mi bebe duerme mal durante la noche. My baby sleeps poorly at night. Estudiamos mal la historia de otros pases. We do a bad job of studying the history of other countries. Mal as an Adjective and Adverb at the Same Time Sometimes mal functions as an adverb in Spanish, such as with estar, but in English may be translated as an adjective.   Spanish Sentence English Translation Algo huele mal en mi casa. Something smells bad in my house. Me parece mal que no vengan todos. I feel bad that not everyone is coming. La ciudad no est mal, pero hay mucho desempleo. The city isnt bad, but there is much unemployment. Mal as a Noun Especially when used with estar, mal sometimes means sick or ill. Hoy yo y mi familia estamos mal, which means,  My family and I are sick today. This sentence can also be translated to mean literally and colloquially understood as feeling sick as in, My family and I feel poorly today. Mal can also be translated to mean evil. In this case, it would need the definite article the, literally translating to the bad, which is the Spanish way of saying evil.

History Of The Internet Assignment Example | Topics and Well Written Essays - 750 words

History Of The Internet - Assignment Example 263). The early traces of internet can be found towards the 1970s when it was primarily used for the defense purposes in United States. The concept of common man using it was a mere illusion and no one could have imagined it. Its primary function and usage for shifted to the satellites systems for navigating and communicating with the towers and equipment installed at a distance of thousands of miles from the surface of earth. The M.I.T, I.B.M and A.T.& T were few of the pioneers who provided assistance and support in the early days of internet becoming a common and relatively known concept. It was the commercialization of the concept and technology which soon led to the entailment of the technology of internet becoming public and commercial. This came about in the form of World Wide Web becoming a common concept where the slow transition was seen towards people using it. In the initial days the transmission of internet was relatively slow and limited to the analogue mode of communications. The speeds so offered were relatively slow in terms of Kilo bits per second and providing support and connectivity to the limited number of users. United States of America, its commercial enterprises, the telephony supporting systems and the students and the universities have a considerable role with regard to the overall progress the internet has made. The World Wide Web and the establishment of the T.C.P/ I.P layer support system under the name of I.T.U enabled gaining further progress with regard to bringing about a medium of wireless technology and communication which would enable people getting connected despite being at a large distance from one another. The major step of the world wide web came about in the year 1991-1992 when the venture was formally undertaken by set of students who through their own launched browser gave the technology a new touch in the form of Mosaic browser. This was the first step

Effects of Performance Evaluation Systems on Employee Morale Research Paper

Effects of Performance Evaluation Systems on Employee Morale - Research Paper Example In human resources management, morale is defined as â€Å"the extent to which an employee’s needs are met ant the extent to which the person perceives that satisfaction as stemming from his or her total job situation; (it is) synonymous with satisfaction†. Job satisfaction and employee motivation are two of the more important concerns of the human resource function in any organization as most of these recognize, that its people are its most important resources. Therefore it is to their ultimate advantage to take care and provide for the needs of their employees. People’s needs are of course determined by different sources and these needs variously control their motivations or the driving forces behind their behaviors. In the study of employee morale therefore, the theories on motivation could be useful to explain this psychological construct. One of the most influential theories upon which many managers base their performance management approach is Abraham Maslow’s Hierarchy of Needs Theory. As people engage in activities that increase their satisfaction, the study of Maslow’s theory becomes important as it explains what particular needs people are trying to gratify through their pursuits. The theory proposes that there are five levels of needs, namely, physiological or the need for food, shelter, water, clothing and other biological needs; security or the need to for protection and safety; belongingness or the need for affection and love; esteem or the need for recognition either from himself or from others; and the highest need of self-actualization which is the desire for self-fulfillment. Maslow emphasizes that the needs in the lower rungs of the hierarchy should be met first before an individual can satisfy the higher level needs. This theory has important implications to management as it points out cl early which needs are to be met and provided at which stage at work and which could be used to motivate them (Jones, 2007). The need for esteem in particular relates to the need of employees to be recognized for their accomplishments, expertise, or skills. If an employee is motivated by this particular need, then providing timely and constructive feedback on how he does at work may encourage him to give a better performance. Another prominent theory on employee motivation is Victor Vroom’s Expectancy Theory which argues that employees will be more motivated to work if they believe that their efforts will lead to higher performance and that this better performance will result to more rewards (Jones (2007). It means then that if an employee will be provided knowledge about his past performance, he can gauge the likeliness of his success or failure in a future or similar task. Performance evaluation systems should be sensitive then to detect low performance so that managers can provide encouragement and the necessary support like coaching or training to underperforming employees. In the same vein, if the evaluation results show that an employee is performing very well at work, then managers’ congratulatory notes can boost the employee’s morale and self-confidence in his abilities and success at work. Psychologists Henry Murray and David McClelland introduced the Acquired Needs Theory which posits that individuals obtain

Major Sources of Finance and Funding for SMEs

Major Sources of Finance and Funding for SMEs Introduction Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialised countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organisation, accounting for over 95% and up to 99% of enterprises depending on the country (OECD 2006). While not every small business turns into a multinational, they all face the same issue in their early days finding the funds to enable them to start and build up the business and test their product or service. This essay will be looking at the major sources of finance for SMEs and start ups, also will be looking at the advantages and disadvantages of this various sources. Furthermore I will be drawing from the lectures notes, seminars with different enterprise and other sources to identify these sources and their advantages and disadvantages. Funds are difficult to source for especially in this present period of recession. However, funds can be sources through various means each of which have it merit and demerits. The decision as to what source of finance will be the best will depend on, the cost of borrowing, the length of time the money will be need, what is the money for and ultimately whether the firm can payback. Burns (2007) The most important consideration in deciding the source of finance for SMEs is to strike a balance equity and debt and to make sure the source of finance suits the business. What differentiate (money borrowed) debt and equity are that financial institutions demand interest and capital repayments, but debts is usually held up against a business assets or personal properties of the owners. The sources of finance for start-ups and SMEs can be divided into two: internal which includes (personal savings, family and friends) and external includes (trade credit, venture capitals, business angle, hiring and leasing, bank loans, Factoring and invoice discounting, grant, bank overdraft). Internal sources: Personal savings, family and friends: this is often the starting point for most SMEs where the owner uses his/her savings to start up the business, may be later in the business others may be prepared help you out example the case of Amazon that was shown in class where his parents and friends helped at some point, also is the same for most of the entrepreneur brought on in the seminar. It should be noted that for family and friends the reason for funding should be known as some may give in turn to have share of the business which might not be explicit, in other to avoid these a written agreements would be a better option stating the basis of such funding. An advantage is that this shows that the owner has some level of confidence and commitment to the business enterprise and might make it easier to gain money from others. It costless form of finance, but there is higher risk of the money being lost since the entrepreneur idea might not be fully developed. External sources: Grants: Grants are often available from councils, local authorities, and other Government agencies for specific reasons. For example there may be plans by the government or council to revive or encourage the development of a sector or an area. Alternatively there are some institutions that helps entrepreneur to lunch new business. One disadvantage is that assess to grants can be competitive as some businesses are classified more important than others and it can be very difficult to locate an individual or organizations who will be willing to give funds for small business. An advantage is that most grants dont require payback and has no interest. Bank Overdraft: An overdraft is agreed sums which a customer can overdraw form his current account. Bank overdraft can be a good source of short-term finance to help a business with seasonal shortage of funds that does not require long-term solution. The charges varies and are linked to the bank rate. The advantage of overdraft is that it is always there when it is need and it is at no cost (however small fee are charged) it helps to maintain a good cash flow. Also it is quick to set-up when compared to a loan. Overdraft disadvantages. The interest rate on an overdraft can be quite high, especially for small firms where the risk to the bank that they might not get their money back is greater. In addition, the business is not allowed to exceed their overdraft limit. If they do, the bank might refuse to pay cheques to creditors and may hit the business with a hefty charge for exceeding the limit. Overdraft facilities can be re-negotiated but if this is tried too many times, it may be a signal to the bank that a business has not got control over its finances. Venture capitals (VCs): It is also known as private equity finance. This source is often most times used in the early stages (or a later stage depending on the type of VCs) of developing a new business, where the risk of failure is high but the possible earnings may well also be high. Venture capital dealings are, just about  £500,000 to  £10 million, or above. Venture capital most time provides second round financing after Business angels. Venture capitalists invest large sums of money in return for a share in the firms equity and also expect a good return on their investment. It should be noted that venture capitalists most times are firm or representative of a parent firm. One advantages of getting a VC are they provide large sum of finance and the significant expertise, contacts and experiences they have acquire while running other businesses. Furthermore successfully attracting a venture capital makes it sometimes easier to get others for further funding. Example of theses i s the Dragons Den. On the other hand disadvantage getting a deal with a venture capitalist may be a long and difficult process. As it will require drawing up a well detailed plan, financial projections which may require professional help or friends who have such knowledge, legal requirement may be needed on getting to the negotiation stage all of these services will have to be paid for whether or not the fund was secured. Also there is tendency for VCs to influence or take control of the business. Business Angels: Business angels (BAs) are also know as angle investors, they are rich individuals who invest in a potential high growth businesses in return for a share in the ownership of the business. They are typically involved at an early stage of the business. Some BAs invest as an individual, while others do as part of a group, or investment club. BAs often make their own skills, experience and contacts available to the company. BAs in general invest in businesses between  £10,000 and  £750,000 as individual and up to  £1,000,000 or more as a group. One advantage of BAs is that they often make an quick investment decisions, without complex assessments. (i.e. when it appeals to them or an area of interest) However, a professional and well prepared business plan will be needed to get their attention. Most BAs bring relevant experience, skill, time, and contacts they have built up overtime. Most BAs are committed and do everything within their power to make the business wor k. The disadvantage of BAs is that they are difficult to find and dont make investments very regularly, more time will be spent with the BAs rather with the business giving information, The entrepreneur may loss some level of control over the business, locating the right investors may be difficult, also there is tendencies for the BAs to want to stay in the business therefore becoming a â€Å"devil†. The British Business Angels Association (BBAA) is a good source of locating BA networks also they help in preparing and presentation of business proposals. Invoice Discounting and Invoice Factoring: This involves a company outsourcing its invoicing activities to an external organisation. It makes funds available in few days to the business base on the values of the outstanding invoices. Then process, It begins by the firm making sales, sending the invoice to the customer, sending a copy of the invoice to the factoring institution where necessary negotiations and investigations is carried out on the customer after which an agreed percentage of the invoice is paid by the factoring company, usually 70-80% within 24 hours. This service comes with a cost which include administration charges, interest, credit protection charges, etc. the major advantage of this source of finance is the quick availability of funds which can be channel into another aspect of the business, also with presence of many factoring companies, this makes prices competitive, further it makes preparation of financial planning and cash flow easier and smoother, it can be an efficient and cost effective was of sub contracting that area of the business which reduces the time spent chasing payment. It is also an opportunity to know the credit standing of your customers which can help in negotiating a better deal with your suppliers and customer. The down side is that the charges will imply a reduction in the profit margin, in addition it may limit the way business is done as the factoring company may want to vet your consumers. It may reduce the extent of borrowing as the invoice is not available as security, also some customer may prefer to deal directly with their suppliers. In the situation where the customer default the business has to pay also an additional fees may be charged. Trade credit: some businesses depend on the purchase of a product from other companies (suppliers) to run their enterprise. Trade credit is a case where a supplier gives out his product to a customer on credit expecting to pay at a later date. Most trade creditors allow for a period of 30 days or longer before payment are made, this can allow the business to use the funds in the short term to finance other things. This should be done with caution so as not to risk upsetting the supplier and put at risk the future working relationship of business. Advantages of Trade credit: By setting up trade credit it will require less money to start up a business, this can be really important to those who have little capital in starting up a business, also the ability to buy now and pay later, the business can purchase the item and sell them at a profit before payment are made. With this the business time to focus on other areas of the business like marketing etc rather than worry about paying the ir supplier. It also makes for improved cash flow and smooth operation for the business. Example of all these is the case of QPC as discussed in the seminar. The downside to trade credit is if the business fails to meet the deadline it may leads to poor credit history which might limit the business chances of securing funds elsewhere. Also it can be difficult to get trade credit as only firms with good credit history are given, however these can be difficult to build as a new business. Hire Purchase and Leasing: Hire purchase and leasing allows a business to acquire an asset without paying the full-price. The business will have the right to use the equipment for a period of time after which they can buy it at a reduced price or return it. These means is mostly used in the purchase of heavy equipment. Leasing an asset makes available some working capital that can be use in other areas of the business. In a lease, the business is paying for the use of an equipment or machinery but do not own it. A lease agreement on an equipment or machinery, for example, might mean that the firm pays out  £250 or more per month for a 3-4 year lease. At the end of the years, the equipment or machinery is returned to the owner. Some advantages of leasing equipment include, having and using an asset without having to pay the full cost up front, so cash can be diverted for other purpose. it gives the business access to a modern standard of equipment, which might be too costly to buy u pfront payments are spread over a long period of time., leases can be helpful to business which carries out short projects or needs equipment for short time as they dont have to buy such equipments out-rightly. With the payment based on the fixed period of time the equipment will be use and fixed monthly rental costs, this helps the business to budget for the future, forecast cash flow and plan effectively. It also reduces the cost of maintenance, as the leasing company will be responsible for that and carries the risk of the equipment if it breaks down. Capital allowance can be claim on the equipment. The asset can be purchased as a reduced price. Some disadvantages of leasing equipment: it can work out to be more expensive than if you buy the assets outright, Capital allowances may not be claimed on lease equipment less than five years in some cases seven years. Business can be stocked into inflexible medium or long-term agreements, which may be difficult to terminate. In the case of Adrian Lauchlan who got a big warehouse and later discovers it was too big but could not break the contract due to the length of time. Leasing contract can be complex to manage and can add to the management operation, businesses has to be VAT-registered to take out a leasing contract, the asset are not owned despite paying monthly for it. Bank Loans: Bank loans can be a couple of thousand to hundred thousands of pounds depending on the security and business prospects. A loan is an amount of money borrowed for a set period with aim of paying back at an agreed date. The repayment will depend on the size, length of the loan and the rate of interest. The terms and conditions of loan vary with providers and may be negotiable. Loan periods varies between 1 to 10 years, with some going up to 20 years, though each lender have a number of loan packages to suit various business needs. The riskier the business, the less likely to be able to borrow, and the higher the interest rate charged. This helps the bank to ensure that they are covered even if the risk does not pay off. Advantages of loans: Banks loan are reliable because the money is guaranteed throughout the agreed period generally three to ten years unless there is a breach of the loan conditions. If the loan will be use in the purchase of equipment it can be tied to th e lifetime of the equipment or other assets youre borrowing the money to pay for. Loans do not require giving up part of the business as of the case of an investor but the interest which serve as the cost must be paid. Some loans have fixed interest rates which are easy to calculate. Disadvantages of loans: Most loans are not flexible once the payment date are fixed also they have strict terms and conditions, there might be difficulty in making monthly repayment when customers done pay on time therefore causing cash flow problem. Most loans are secured against the business owners property or the asset of the business, but these properties will be at risk if the business defaults. Adrian Lauchlan almost lost his house due to low cash flow. Businesses are charged if the loans are paid before the end of the agreed period. In situation where more funds are borrowed than needed interest will be paid on fund not used. The bank will not be willing to increase the loan without an increase i n security. In conclusion, the essay has discussed some of the major sources of finance and also discusses their advantages and the disadvantages of this various sources, it should be noted that each firm or business should choose the most appropriate sources of finance that suits it mode of operation and kind of business. References http://www.entrepreneur.com/money/buyingandsellingabusinessmikehandelsman/article204238.html The OECD Policy briefing (2006); Financing SMEs and Entrepreneurs. Burns, P (2007), Entrepreneurship and small business 2nd edition, Palgrave, Basingstoke. http://ec.europa.eu/enterprise/newsroom/cf/newsbytheme.cfm?displayType=library=en http://www.lbangels.co.uk/downloads/Raising%20Business%20Angel%20Funding.pdf ACCA SME UNIT :Improving SME access to equity finance: http://www.accaglobal.com/pubs/general/activities/library/small_business/sme_policy/equity_investment.pdf Financing Innovations: InnoSupportTransfer Supporting Innovations in SME: http://www.innosupport.net/uploads/media/8_1_Sources_of_Finance_for_innovation.pdf Thorne.S (2007), sources of finance: http://www.eic-guide.co.uk/docs/src_finc.pdf Irwin.D Scott.J (2008) Barriers to raising bank finance faced by SMEs, Queens University Management School, Belfast. Fraser, S. (2005), Finance for Small and Medium Sized Enterprises: A Report on the 2004 UK Survey of SME Finances, Warwick Business School, Coventry.

Lucent Case Study

2. What financial statement adjustments will Lucent have to make to correct the revenue recognition problems announced in late 2000? Lucent recognized revenue when persuasive evidence of an agreement exists, delivery has occurred, the fee is fixed and determinable, and collection of the resulting receivable, including receivables of customers to which Lucent has provided customers financing, is probable.For sales generated from long-term contacts, primarily those related to customized network solutions and network build-outs, Lucent generally uses the percentage of completion method of accounting. After the incident that SEC forced Lucent to restate the its financial results leading its stock price to decline 8. 5% in 2000, Lucent now records the sales revenue when the customers buy the Timing of revenue recognition is a crucial part in revenue recognition. According to US GAAP, revenue should be recognized when it is realized/realizable and earned (FASB, 1984, Para. 83).However, a n umber of software firms recognized revenue prior to product delivery or service performance in the past, which potentially violated one or both of the conditions of the revenue recognition principle. In response, AICPA released Statement of Position (SOP) 91-1 in Dec. 1991, which stipulated that if collectability is probable, license revenue should be recognized upon delivery and service revenue should be recognized ratably over the service arrangement. The research question for this article is: How revenue recognition timing affects attributes of reported revenue?This question is interesting because: 1) revenue recognition timing is important in financial reporting and standard setters have devoted much attention, 2) very limited empirical research examining revenue recognition timing has been conducted, 3) software revenue recognition is unique as transfer of rights is achieved by license rather than on-the-spot sale of products. The main hypotheses for this article and their intu itions are: 1) Early revenue recognition increases the timeliness of reported revenue.Its intuition is: early revenue recognition better influences decisions by providing more timely information. 2) However, it will lead to greater uncertainty in reported revenue. Its intuition is: changes may not be foreseen at the time of contract signing. 3) Time-series predictability of revenue is lower under early revenue recognition. Its intuition is: early revenue recognition results in higher estimation error and therefore reduces the time-series predictability. Lucent Case Study 2. What financial statement adjustments will Lucent have to make to correct the revenue recognition problems announced in late 2000? Lucent recognized revenue when persuasive evidence of an agreement exists, delivery has occurred, the fee is fixed and determinable, and collection of the resulting receivable, including receivables of customers to which Lucent has provided customers financing, is probable.For sales generated from long-term contacts, primarily those related to customized network solutions and network build-outs, Lucent generally uses the percentage of completion method of accounting. After the incident that SEC forced Lucent to restate the its financial results leading its stock price to decline 8. 5% in 2000, Lucent now records the sales revenue when the customers buy the Timing of revenue recognition is a crucial part in revenue recognition. According to US GAAP, revenue should be recognized when it is realized/realizable and earned (FASB, 1984, Para. 83).However, a n umber of software firms recognized revenue prior to product delivery or service performance in the past, which potentially violated one or both of the conditions of the revenue recognition principle. In response, AICPA released Statement of Position (SOP) 91-1 in Dec. 1991, which stipulated that if collectability is probable, license revenue should be recognized upon delivery and service revenue should be recognized ratably over the service arrangement. The research question for this article is: How revenue recognition timing affects attributes of reported revenue?This question is interesting because: 1) revenue recognition timing is important in financial reporting and standard setters have devoted much attention, 2) very limited empirical research examining revenue recognition timing has been conducted, 3) software revenue recognition is unique as transfer of rights is achieved by license rather than on-the-spot sale of products. The main hypotheses for this article and their intu itions are: 1) Early revenue recognition increases the timeliness of reported revenue.Its intuition is: early revenue recognition better influences decisions by providing more timely information. 2) However, it will lead to greater uncertainty in reported revenue. Its intuition is: changes may not be foreseen at the time of contract signing. 3) Time-series predictability of revenue is lower under early revenue recognition. Its intuition is: early revenue recognition results in higher estimation error and therefore reduces the time-series predictability.