It Has Been Argued That Canadian Environmentalism Occurred

It has been argued that Canadian environmentalism occurred in a series of waves throughout the countries growth and development. Upon colonization the Canadian landscape was abundant in resources, the opportunities limitless. Over the course of a century industrialization had swept the nation. The rapid depletion of resources initiated the development of numerous private organizations that sought to control, maintain, and ensure longevity of such resources. This force would continue to reshape along with the industrial demands and ever-changing landscape. It is imperative to provide context regarding the evolution of the environmental movement that took place in Canada, in order to comprehend the role non-governmental organizations played†¦show more content†¦Gradually conservationist efforts of resource preservation developed, characterizing North America’s first wave of environmentalism. Individuals involved within Canada’s forestry industry developed many of the earliest conservation efforts. The rapid depletion of Canadian forests forced many to advocate for the development of controlled harvesting and reserved areas. By 1900, the Canadian Forestry Association was established. Despite Canada’s earliest efforts, their neighbours to the south were generally further advanced with their efforts. Such gap in national efforts can be viewed as a matter of population differences, industrial expansion, and economic circumstances. The American settlements were much further developed in many respects than their counterparts, and had demonstrated anthropogenic harm throughout their growth. In 1909, American President Theodore Roosevelt, invited both Mexico and Canada to join the United States at the North American Conservation Conference. This conference would lead to the establishment of Canada’s Commission of Conservation. Canada’s Commission of Conservation developed recommendations and environmental ethics that can be viewed as the seeds of modern environmentalism. The development of national parks also illustrates the difference between American and Canadian conservation. In 1885, Banff became Canada’s first national park, while their neighbours had established their first national park,Show MoreRelatedHistorical Origin, Evolution, And Current Reality Of The Lumber Dispute Essay2032 Words   |  9 Pagesfamilial relationship both politically and economically. The transfer of capital, labour and market between these two has been entrenched and institutionalized on many levels throughout their history. Despite such positive relations, one particular sector of the economy has undergone intense scrutiny and friction, which is that of the softwood lumber trade. 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An Importance of Education Free Essays

â€Å"Education is our passport to the future, for tomorrow belongs to the people who prepare it today.† These words said by Malcolm X indicate how significant is the impact, which schools have on young minds. Good schooling is essential for every society and individual, as it is supposed to prepare students for the world of work later in life as well as to teach them the values and morals required in the society. We will write a custom essay sample on An Importance of Education or any similar topic only for you Order Now In other words, it is school where teenagers are equipped with necessary skills so that they can participate effectively as member of community, hence they have a chance to contribute towards the development of common identity. For that reason, there have been many attempts to create a school environment that will allow young people to grow emotionally, physically and mentally. Consequently, there are two main choices to make. This is having a single-gender education, or a school where students are in classrooms with a mixture of genders. However, as it has been previously stated, the school should be regarded as a reflection of the real world. The real world is coeducational though, so mixed schools are rightly considered to be more proper setting for the young learners. The main concern about single-sex classrooms is that its members will not be capable of maintaining successful relationships throughout their lives since they will be accustomed to interaction only with either boys or girls. Nevertheless, being able to communicate with the other sex is crucial to prepare students for the professional world. Coeducational schools perfectly serve this function, because collaboration in classrooms is both purposeful and supervised. What is more, children there have the opportunity to be taught a broader range of essential life skills e.g. understanding more diverse points of views, mutual respect or simply how to cooperate efficiently and create successful interpersonal bonds. On the contrary, single-sex schools not only limit these possibilities for forming friendships with the opposite sex but also hinder them, as such restrictions lead to perceiving the other sex in an entirely unrealistic, ideological way, simply because children lack the time spent together. Additionally, deficiency in mutual contact deprives young people from gender segregated classrooms of an enriching experience that is learning about and from each other. That fact can be further confirmed by many researches, in relation to which children need a mix of traditionally masculine and feminine characteristics, like playing competitive sports and discussing emotions, in order to be mentally healthy. Therefore, boys who spend their time mostly with other boys are thought to be possessive and to display aggression. Girls also benefit from the boys’ presence by being more courageous while performing in the society. Moreover, classroom assignment based on gender teaches young people that males and females have completely different types of intellects, which firmly supports stereotyping along with discrimination. Correspondingly, the common beliefs, that only boys can play football or videogames and only girls are allowed to play with dolls, reinforce sexism in schools and in the culture at large, as children tend to favor members of their own group, and be prejudiced against those in contrasting groups. By contrast, the children in the coed classroom are less probable to limit their interests according to gender – the girls can play football and the boys are allowed to play with dolls.Still, it has been argued that both sexes adopt different approaches towards learning, and taking it into account, they should be taught dissimilarly. Indeed, most same-sex classrooms allow teachers to tailor their lessons toward the specific needs of their students. For example, a class discussion of â€Å"Romeo and Juliet† in a boys’ school can involve a study of a boy’s first love analyzed from his perspective. Likewise, using books featuring lead female characters may be more appealing to young women or debating the impact of religion on young girls has the potential to really reach the target group, while such discussions in co-ed schools are usually less open and extended than those in a single-sex school. However, very few teachers are effectively trained to manage a single-gender learning environment, yet very few colleges offer specific programs or courses. Considering the fact that learning is best accomplished when the delivery method matches the subject itself, it is the quality of teachers’ training— not gender of their students — that determines how successful the outcome is.Because of that, although students can also learn from home, school environments are irreplaceable during development of young minds. Rather than separate boys and girls, schools should move in the entirely opposite direction which is training boys and girls how to work together, respect and support each other. It is not long before the youth of today will be the parents, co-workers, and leaders of tomorrow. Due to that fact it is especially important to take better advantage of coeducation to frame the truly egalitarian society, that we expect to encounter in the future. 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Rain forest Depletion Essay Example For Students

Rain forest Depletion Essay Rainforest Deforestation: Do We Care Enough? The villagers walk the charred ruins of their village, looking for any personal possessions that can be salvaged after the fire. Looking out from the remains, they see the trucks already winding their way up the newly made dirt road. Soon, the landscape around their village will be irrevocably changed as well. The loggers will strip the forest of all trees, and then move on. They leave the landscape barren, and allow erosion to destroy it utterly. Sadly, this scene is common in many Latin and South American countries containing rainforests. In these regions, the rainforests are being cut down at an alarming rate, with no thought being given to the rights of the indigenous peoples whose way of life is inseparably connected with the rainforest itself. There are several viable solutions to this problem, the governments of these rainforested countries making wiser decisions and create new laws and programs to deal with the problem among these solutions. While the most advantageous solution would be for the foreign countries to recognizing that the blame lies as much with them as with those of the locales containing the rainforests Many countries containing rainforests feel the need to become as industrialized as possible in a short period of time. To accomplish this, they commonly build massive dams, flooding thousands of acres of rainforest, as well as displacing the many jobless poor attempting to live off of the land (Weisman 1). These poor, along with others simply needing to get away from overcrowded lands, move onto the indigenous peoples land and clearcut portions of forest and farm these new fields. These poor often come into direct conflict with the indigenous tribes already living there, who oftentimes had no contact with outside civilization prior to their land being invaded and cut away. These conflicts are often violent, even fatal for both sides involved (Weisman 1). The first solution to this invasion of the tribes land would be for the governments in which clearcutting is happening to make wiser decisions. Often, farmland would be readily available were it not for unwise decisions on the part of the government. The flooded land is usually quite fertile and easily farmed. Also, land is often used for purposes that in no way benefit the people of the country. In Columbia, the savanna surrounding Bogota, some of the most fertile land in South America, is not used to produce food for the locals. It is used for growing flowers such as chrysanthemums, roses, and carnations that are sold cheaply in the United States (Weisman 2). If these lands could be designated to be used for farming, many of the people who are responsible for the deforestation would have no need to move to the forest in the first place. Another example of unwise governmental decisions took place in Mexico. The government here actually encouraged farmers to move to the forested Los Tuxtlas region. They were encouraged to deforest the land in order to plant crops. Their goal was to alleviate overcrowding and boost the agricultural economy. These farmers, used to farming in a different climate, often clearcut more land than was necessary and exhausted the nutritive value of the soil as well (Tangley 1). The advantage to the governments making wiser decisions is that it can be accomplished within the countries themselves and done cheaply. The disadvantage is that the legislators would have to admit their errors and they may be unwilling to do this because they may look foolish to their voters. .u9bd819fd077716ed20784aa07e43d42e , .u9bd819fd077716ed20784aa07e43d42e .postImageUrl , .u9bd819fd077716ed20784aa07e43d42e .centered-text-area { min-height: 80px; position: relative; } .u9bd819fd077716ed20784aa07e43d42e , .u9bd819fd077716ed20784aa07e43d42e:hover , .u9bd819fd077716ed20784aa07e43d42e:visited , .u9bd819fd077716ed20784aa07e43d42e:active { border:0!important; } .u9bd819fd077716ed20784aa07e43d42e .clearfix:after { content: ""; display: table; clear: both; } .u9bd819fd077716ed20784aa07e43d42e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9bd819fd077716ed20784aa07e43d42e:active , .u9bd819fd077716ed20784aa07e43d42e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9bd819fd077716ed20784aa07e43d42e .centered-text-area { width: 100%; position: relative ; } .u9bd819fd077716ed20784aa07e43d42e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9bd819fd077716ed20784aa07e43d42e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9bd819fd077716ed20784aa07e43d42e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9bd819fd077716ed20784aa07e43d42e:hover .ctaButton { background-color: #34495E!important; } .u9bd819fd077716ed20784aa07e43d42e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9bd819fd077716ed20784aa07e43d42e .u9bd819fd077716ed20784aa07e43d42e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9bd819fd077716ed20784aa07e43d42e:after { content: ""; display: block; clear: both; } READ: Selective Attention Essay Another disadvantage would be that the poor people that have moved onto the tribal lands would have to move once again still jobless. The next solution, would be for the countries in which deforestation is a problem to make practical programs towards clearcutting. These countries do not currently have these programs because of their precarious fiscal situations. International banks have loaned large amounts of money to these countries due to their abundant natural resources and high potential for economic growth. However, in the early 1970s and 1980s, interest rates rose and the market values of these countries cash crops, such as coffee and tea, fell (Friede 1). Thus, the countries found themselves deeply in debt. To pay off these debts, they cut government programs such as environmental protection agencies and sold off large amounts of forested land to foreign logging companies (Friede 1). Some of the forested countries have started to pass legislation to give back land to its original owners, the indigenous tribes. Many of these countries have begun to accept the positive relationship that exists between the tribes and the rainforest. The Colombian government acknowledged that the indigenous people were the best protectors of the rainforest. In 1990, this government gave back half of its rainforest to the indigenous tribes, stating that they would take the best care of the forest (Friede 4). Like the Colombians, the Panamanian government may also give back some land to its native peoples. The government leaders are debating whether to give the Kuna Indians the watershed to one of the nations dams (Weisman 3). If the nations would reinstate the environmental protection agencies, it would help the natives immensely. First, it would help with the deforestation of the indigenes lands. It also would help with the relations between the tribes and the foreign logging companies. This agency along with others could be instituted rapidly once the legislators are convinced. It is a disadvantage that the legislators may be unwilling to cut off the supply of foreign logging money. Enforcing the new laws and starting new programs would be an expensive process, which also is a deterrent to implementing change. The last solution is not only effective but would alleviate some of the disadvantages, such as expenses of the other solutions. It is that of foreign, industrialized countries, such as the United States, recognizing that the blame lies as much within our own border as with the rainforested countries themselves. Nearly every instance of deforestation has an indirect cause lying with an industrialized country that in theory condemns deforestation. For instance, if the fertile fields in Columbia, which are used to grow flowers, were to be used for farming, much deforestation could be prevented. The United States could simply refuse flower shipments from Columbia and they would have no choice but to use the fields for something else. Another option these industrialized countries have would be to alleviate the debts that the forested countries owe them in several different ways. First, the industrialized countries could offer tax breaks to the companies that lent the forested countries the money. Also, they could directly pay part of these countries debts. In ten years, the rainforested countries have paid a net average of $25 billion (Friede 1). Meanwhile, Mexicos national park system has a total budget of $1.5 million. Of this amount about eighty percent goes to administration (Tangley 6). Also, with the elimination of these debts, many of the forested countries would no longer need the logging companies money. The countries could, therefore, refrain from selling any more land, which would slow deforestation of the indigenous peoples land greatly. There are many advantages to this option, including the fact that it strikes at the very financially driven root of the problem This would eliminate all the causes of the problem at once. Next, it also equally spreads the burden, making the richer countries that can afford to pay do so, and the poorer countries deal with the administrative and judicial parts of the plan. This is not to say that these nations should be absolved of all responsibility for regulating the deforestation, but with proper financial aid and expert advice, these countries can overcome both their debts and their internal problems. .u9b65d568f68e97683c1c2c4c72e30f92 , .u9b65d568f68e97683c1c2c4c72e30f92 .postImageUrl , .u9b65d568f68e97683c1c2c4c72e30f92 .centered-text-area { min-height: 80px; position: relative; } .u9b65d568f68e97683c1c2c4c72e30f92 , .u9b65d568f68e97683c1c2c4c72e30f92:hover , .u9b65d568f68e97683c1c2c4c72e30f92:visited , .u9b65d568f68e97683c1c2c4c72e30f92:active { border:0!important; } .u9b65d568f68e97683c1c2c4c72e30f92 .clearfix:after { content: ""; display: table; clear: both; } .u9b65d568f68e97683c1c2c4c72e30f92 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9b65d568f68e97683c1c2c4c72e30f92:active , .u9b65d568f68e97683c1c2c4c72e30f92:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9b65d568f68e97683c1c2c4c72e30f92 .centered-text-area { width: 100%; position: relative ; } .u9b65d568f68e97683c1c2c4c72e30f92 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9b65d568f68e97683c1c2c4c72e30f92 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9b65d568f68e97683c1c2c4c72e30f92 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9b65d568f68e97683c1c2c4c72e30f92:hover .ctaButton { background-color: #34495E!important; } .u9b65d568f68e97683c1c2c4c72e30f92 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9b65d568f68e97683c1c2c4c72e30f92 .u9b65d568f68e97683c1c2c4c72e30f92-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9b65d568f68e97683c1c2c4c72e30f92:after { content: ""; display: block; clear: both; } READ: April, 1985 and we were driving away from civilization towards the untamed, natural and beautiful Essay The main disadvantage to this solution is that many people in the industrialized countries do not see the rainforests as being their responsibility in any way. This results in an unwillingness to take any sort of financial burden to pay for the restoration of the rainforests. With proper education, however, many people would realize that they share responsibility for the destruction of these forests because it is their fax paper, newspaper, and magazines that come from these forests. In Alan Wiesmans article Out Of Time, he tells a story of a shaman and a tribe sitting a round a campfire as their homes smolder around them. Their homes were burnt to make way for the logging companies, which believe that they own the land the tribe has lived on for centuries. The shaman believes that the white man is a curse because they do not follow the ways of their God, and that only the indigenous people know how God meant the world to truly be. He is then asked by someone not of his tribe why the white man has triumphed over his tribe, and they must suffer. He replies in a quiet voice that, The white man hasnt triumphed, when the Indians vanish, the rest will follow. If the nations do not do something about the rainforest being clearcut, the world may soon know whether his statement was true. In conclusion, the violation of indigenous peoples rights as a result of deforestation can be prevented if the leaders of the nations containing the rainforests make wiser environmental decisions. They must also pass new laws restricting logging companies access to the rainforest, and most importantly the governments of the industrialized nations who are the creditors of the forested nations need to accept part of the responsibility for the problem and alleviate part of the debt of the involved nations. Bibliography:

TABLE OF CONTENTS. Essays - Financial Ratios, Dividends,

TABLE OF CONTENTS. INTRODUCTION. PROCEDURE. FINDINGS. 1.0 INVESTMENT RATIOS ? MEASURES OF EFFICIENCY. 1.1 Earnings per Share. 1.2 P/E Ratio or Price / Earnings Ratio 1.3 Dividend Yield. 1.4 Dividend Cover. 2.0 PRIMARY OPERATING RATIOS ? MEASURES OF EFFICIENCY. 2.1 Return on Capital Employed 2.2 Debtors Turnover Ratio 2.3 Creditors Turnover Ratio 2.4 Return on Shareholders' Fund 3.0 PRIMARY FINANCIAL RATIOS ? GEARING AND LIQUITY. 3.1 Gearing Ratio 3.2 Liquidity Ratio 3.2.1 Current Ratio 3.2.2 Quick or Acid Ratio 4.0 CASH FLOW CONCLUSION RECOMMENDATIONS APPENDICES BIBLIOGRAPHY ? REFERENCES INTRODUCTION It can be suggested that accounting consists of identifying, measuring and communicating business information to facilitate judgements and decision making for the further future. This specific report is pointed at investigate National Grid Group Plc's report and accounts in order to decide whether someone should invest or not in this company. Someone, who is able to analyse this company, must have its Annual Report for at least two years, which will help the person, because it contains basic components like the Profit and Loss Account, the Balance Sheet, the Cash Flow Statement and the Director's Report. PROCEDURE In order to guide you to understand about this specific company, I have used the Annual Review by following some steps: 1) To summarise the size, the structure and the profit of the company I have first check the balance sheet and the profit and loss accounts. 2) I have read very carefully the chairman's statement and the director's report, which helped me to understand better things about the company. 3) I have also calculated the trends and ratios. The performance data, P&L A/C, Balance Sheet, Ratios and Trends were obtain from the following sources: - Annual Review of National Grid Group of 1997-98. - Articles from Financial Times newspaper. - Books related to the subject. FINDINGS. 1.0 INVESTMENT RATIOS ? MEASURES OF EFFICIENCY. Investment ratios are the ratios used by the investors when deciding whether a share should be bought, sold or held. 1.1 Earnings per Share. Earnings per share (EPS) indicate the amount of profit after tax, interest and preference shares earned for each ordinary share. It is also more reliable for comparing the performance of any company because it can not be affected by the policy of the directors. Profit after tax + interest EPS = No. Of Ordinary shares The earnings per share of National Grid Group, excluding the exceptional profit relating to Energis, were 19.8 pence, compared with 24.3 pence in 1996/97. This reduction resulted from lower transmission profits following the implementation of the new price control. 1.2 Price Earnings Ratio. The Price Earnings Ratio (PE ratio) is a measure of market confidence in the shares of a company. Also the PER play a significant role not only in the company itself, but on the industry in which it operates and, of course, on the level of the stock market, which tends to rise more than reported profits when the business cycle swings up and to fall more than profits in a downturn. Arithmetically, the ratio measures the number of years it would take to repay the share's current value in earnings. It can be define like this: Market price per share Price Earnings Ratio = Earnings per share At 31 March 1998, NGG's share price was 353 pence compared with 209 pence at the start of the year, an increase of 68 per cent. The shares traded during the year within the range 206 pence to 353 pence. The market capitalisation of the Company at year-end was $5.2 billion. (The National Grid Group plc Annual Review 1997-98) 1.3 Dividend Yield. Dividend Yield expenses dividends as a proportion of the market value of total shares. They are also based on gross dividends per share, that is, on the dividends actually paid plus the associated tax credit. It can be defined like this: Dividend per share Dividend Yield = x 100 Market value per share On the 25th of November 1997, NGG announced that it was taking steps to improve the financial efficiency of the Group by returning excess capital to shareholders by way of a special dividend of 44.7 pence net per ordinary share. The special dividend, which represented approximately 15 per cent of the Group's market capitalisation at the close of business on the 24th of November 1997, amounted to ?786.6 million and was paid on the 17th of February of1998. On 5th of February 1998, the shareholders approved a share consolidation to reflect this return of value. As a consequence, 1,718 billion new ordinary shares of

Glandulas suprarrenales Essays - Free Essays, Term Papers

Glandulas suprarrenales Essays - Free Essays, Term Papers Glandulas suprarrenales Generalidades Organos pares, constan de 3 diferentes tejidos Corteza externa, controlada sobre todo por el sistema renina-angiotensina-aldosterona: que regula la liberacion de aldosterona, la cual afecta la homesotasia de sodio y potasio Corteza interna, controlada por el sistema hormona liberadora de coticotropina cortisol, que regula la respuesta fisiologica al estres mediante la liberacion de cortisol y tambien produce androgenos La medula, que forma parte del sistema nervioso simpatico y produce adrenalina Embriologia Cada glandula adrenal consiste en dos regiones diferentes: Corteza: deriva de las celulas mesenquimatosas unidas a la cavidad celomica en proximidad al pliegue urogenital. Puede distinguirsele desde los dos meses de gestacion. La corteza adrenal fetal aumenta de tamano con rapidez, llegando a ser mayor que el rinon hacia los cinco meses de gestacion, momento con el cual ya se distinge en dos zonas: Corteza externa definitiva: Zona glomerulosa (Externa), la cual expresa la enzima desmolasa (cataliza la primera reaccion en la sintesis de esteroides) y aldosterona sintetaza (Cataliza la reaccion de aldosterona) Zona fasciculada (Intermedia) que expresa desmolasa (catalizala reaccion final de la sintesis de cortisol y corticosterona). Zona reticular (Interna) Corteza externa fetal: se degenera con rapidez y al ano de edad ha desaparecido

Answer Questions Essay Example | Topics and Well Written Essays - 250 words - 2

Answer Questions - Essay Example Thirdly, servant leadership is a way of improving loyalty, diversity, and all-inclusive decision-making process. The workers feel indebted to hardworking leaders, which will lead to loyalty and hard work. Similarly, the workers will feel appreciated especially when they are engaged in decision-making. It is noted that there are two sets of servant leadership. In the first set, the employees are rewarded when they accomplish the set goals in the organization. This is a recurrent process, which enhances the productivity of the workers. This requires constant participation of both leaders and employees to evaluate the progress and performance (Nahavandi, 2006). This has been proven to record immense improvement at the work place. The constant communication and interaction enhances employee-leader relations. With such a relation, there will be positive changes at all the times. Secondly, there is the leadership style where leaders are obliged to intervene when there is a problem. In such times, the leaders involve the workers in looking for a prudent solution to the incumbent problem. With such processes, the workers feel engaged in the running of the organization. Personally, this leadership style should be appreciated in ensuring immense performance. In conclusion, servant-leadership style has been in use around the world with proven success. One of the fundamental benefits of this type of leadership is long-term outcomes, which are positive. It is an opinion that this can be used in enhancing organizational culture, which will improve the organization’s

Understanding management accounting and financial management Assignment

Understanding management accounting and financial management - Assignment Example For this expansion setting up new plant is essential for Flight high ventures plc to increase the capacity. The inception of new plant will require initial outlay of ?4m. Along with this, research and development department is taking another project of product development with two options A and B. In this report these two options are evaluated using different techniques. Two projects A and B both are mutually exclusive need to decide which project is more suitable for the Flight high ventures plc. Both the projects have initial capital investment which is shown in annexure as negative. Project B has initial investment of ?1210000 and project A has lower initial investment of ?968000. Lower initial investment does not signify that it is better to accept or reject because there is difference in economy of scale in those projects. Hence the effect is reflected in profit earning and in cash flows per year. These two projects are evaluated using four different techniques like payback meth od, accounting rate of return method (ARR), net present value (NPV) and internal rate of return (IRR) (Collier, 2003, 185-193). Payback for the project A is 2.5 years and for project B is 3.5 years. Hence project ‘A’ needs 4.5 years to get repaid by its cash flow and project ‘B’ needs 3.5 years. This pay back period depends on the amount of investment and size of cash inflow. If the project has higher cash inflow at the initial time of the tenure of the project then it will effect on the payback time to be lessened. This concept is an advantage to pay back process as the risk of payment through early payment is reduced in this process. Another few advantages are like easy to calculate, simple concept and consideration of cash not profit only. But this procedure of evaluation has major flaw of non consideration of time value of money. Payback concept does not consider the cash inflow out of the stipulated time which may be for infinite for some projects. Hen ce the project size and the time are not under consideration of this method. (Kay, 2011, p.108) Accounting rate of return of any project is based on the average accounting profit and average capital investment. Here profit is considered in the calculation instead of the cash flow. Profit is counted after excluding depreciation from the cash flow. This ARR calculation has similarity with other calculation for return on investment (ROI) and return on equity (ROE). Only dissimilarity is in denominator. In ARR the main benefit than payback is the consideration of the project life span. Simple in calculation of ARR is another advantage. The result of ARR can help to compare more than one project and also with other financial ratios. But main advantage is similar to payback is, not of considering the time value. Other disadvantages are like not considering the scale of the project and timing (Atrill and McLaney, 2006, p.329- 332). (Damodaran, 2002) In those above two methods risk is consi dered in the calculation but inflation and interest foregone factor is not considered. In the NPV and IRR method time value of money is applied in the calculation. In NPV calculation the absolute size of the project is accounted and also in the discounting factor consideration of calculation of the discounting rate is important (McGrath, 1998). Usually cost of capital is considered in this calculation but this is the main advantage of NPV method, because of the hardness in calculation of cost of capital (Brigham, Enrhardt, 2010, 383). IRR is positive for the projects with unknown discount rate but known cash flows. Like NPV, IRR also considers risk and time value of money. But IRR ignores the change in discount rate and also the gives multiple result for the cash flow with combination of inflow and out flow.