Leadership Essay -- Trait Theory, Maslow

Where I am going. My Personal Story as a Proud Mother of Two Essay

Where I am going. My Personal Story as a Proud Mother of Two - Essay Example I am a year into my thirties and a pleased mother of two. As an adolescent, I was a goal-oriented little youngster with high scholastic records and had an enthusiasm for instructing. Lamentably, my family's money related circumstance made it unfeasible for me to seek after advanced degree. In any case, since I am fit for supporting my instruction without anyone else, I won't let my parenthood or conjugal status shield me from accomplishing my life's objectives since I at last have a chance to satisfy my scholarly interests and since my kids are grown up enough, I can easily partition my time among child rearing and contemplating. I understand that it is far and the way is hard and that I will most likely be old when I arrive at its finish yet the end will be superior to the start. Since I have an inspiring component, I am fit for provide my life a guidance that I need. Simultaneously I should rouse my kids and help them in sorting out their lives and characters. I would like to graduate gladly with an English Honors Degree in the year 2009 despite the fact that I am set up for the way that it may take me somewhat longer than that attributable to my household obligations. In any case, by the by, it is smarter to be late than never! One of the significant worries of school going moms is finding the cash to back their training. Since they work all day, get great pay rates, or hold certain benefits, they may locate their budgetary guide grant isn't sufficient to address their issues without taking out expensive understudy advances. Believe it or not, this is the nearest I've at any point gotten to a school graduation. In some cases life hits you in the head with a block however one ought not let this shake one's confidence. I'm persuaded that the main thing that propped me up was that I cherished what I accomplished in light of the fact that my work is going to fill a huge piece of my life, and the best way to be genuinely fulfilled is to do what you accept is extraordinary work. What's more, similar to any incredible relationship, it just shows signs of improvement and better as the years move on. I am mindful that life doesn't keep going forever, so I would prefer not to be caught by creed, which is living with the consequences of others' reasoning. I don't let the commotion of others' suppositions overwhelm your own inward voice. Generally significant, have the mental fortitude to follow your heart and instinct. They by one way or another definitely realize what you genuinely need to become and everything else is auxiliary. Can the present working and moms more than 25 defeat the pressure and nervousness they feel when they come back to a major city University, in a degree program, following quite a while of being out of the homeroom I think the pressure and uneasiness included is really important for moms like me to fuel our effectiveness and pushes us, however a lot of it ought to be stayed away from to empower us to be fruitful in our undertakings. Being in many families the mother is the foundation of the family and the weight of making family structure is consistently on her. Also, I should establish new limits, rules and jobs with the family, so I can concentrate on scholastics. A psychological readiness is vital so as to stop a few nerves that may happen during this change. One must figure out how to remain center around their objective and to think decidedly. Cautious arranging is basic for a working mother coming back to class, else she may find that she is overexerting herself and could start to experience the ill effects of mental and passionate issues including sadness and incessant uneasiness. I intend to set practical objectives for myself considering I may have a bounty of undertakings to finish for work and school, so it's essential to confine the disturbances at work with the goal that I won't risk my business. I see myself utilizing end of the week courses and additional classes and getting to libraries

Having Healthy Family Relationships With Less Stress

Having Healthy Family Relationships With Less Stress Stress Management Relationship Stress Print Having Healthy Family Relationships With Less Stress Manage stress by fostering closer relationships within your family By Elizabeth Scott, MS twitter Elizabeth Scott, MS, is a wellness coach specializing in stress management and quality of life, and the author of 8 Keys to Stress Management. Learn about our editorial policy Elizabeth Scott, MS Updated on September 14, 2018 Morsa Images / Taxi / Getty Images More in Stress Management Relationship Stress Effects on Health Management Techniques Situational Stress Job Stress Household Stress A connection to family provides a certain type of social support that you can’t get from other people. Provided they aren’t severely emotionally toxic, we can generally depend on our families in times of crisis for emotional and practical support, and sometimes even financial support when we’re desperately in need. Most of the time, the family is a constant in our lives, and a welcome one when there are so many people who are content to drift in and out when circumstances change. Our families carry our history with them, and they generally share our future as well. Who better than siblings, parents, and other close relatives can reminisce with us about our childhoods, or remember pieces of ourselves we’ve forgotten? This connection to fond memories, support in times of need  and near-unconditional love is a unique way that family brings us happiness as well as relief from stress. Unfortunately, with the complexity of these relationships, theyre not always easy. If you would like to feel more connected to your family, the following resources can help for a variety of family structures: Become Adept at Dealing With Difficult People Dealing with difficult people is never easy. But while it may be better for your stress level and even improve your health to eliminate strained relationships from your life, its not always a simple undertaking when the difficult people are relatives, co-workers, or people you otherwise must have in your life. What to do? These tips on dealing with difficult people can help keep conflict at bay and reduce your stress level. Improve Your Relationships With Healthy Communication Social support is a great stress reliever, but relationships can also be a major source of stress. As conflict is virtually inevitable in any relationship, here are ten important tips on managing conflict in a respectful way that yields positive results, rather than damaging your connection and causing additional stress. Do You Like Who You Are When Youre With Your Family of Origin? When people get together with their families of origin, they often regress to the behavior patterns they had when they were younger, as that’s how we’re usually most experienced in dealing with parents and siblings. It can be stressful to feel pulled toward old patterns, however, especially if you’ve grown beyond these old roles and they no longer reflect who you are. If this describes your situation, here are a few things to try: How to Handle the Stress of Adult Sibling Rivalry Mom always did like you best! Sound familiar? If you feel strained in your relationship with your family because your parents favor another sibling or another sibling’s family, you may be surprised to find that you’re not alone. Learn how to handle sibling rivalry as an adult, and enjoy your family gatherings much more from now on. Heres how. The Family Stress Section The role your family plays in your life, and the health of your family relationships, can really affect your stress levels.  Remember, strong family relationships can be a source of strength that you can draw upon in times of stress, and use to expand your enjoyment of the good times you experience in life.  A conflicted family relationship can not just deprive you of that support, but they can create additional stress that depletes your ability to cope.  You may not be able to completely control the types of relationships you have with your family members--after all, relationships are dynamics that involve more than just one person--but there are many things that you can do to create greater harmony in your relationships, and protect yourself from unnecessary stress and pain.  Find more resources for dealing with family relationships here.

French Relative Clauses

Evolution And Evolution Of Evolution - 1154 Words

EVOLUTION Evolution is a scientific theory that was first introduced in the mid 1800’s and it refers to the biological changes that take place within a population of a specific species over the course of many generations. This theory was one of the most scientifically groundbreaking discoveries of our time, and since its discovery, scientists have been working hard to find more and more evidence on the subject. Although there is much controversy on the subject of evolution, it is hard to ignore the facts and observations that strongly support it. In the first chapter of Science, Evolution and Creationism by the National Academy of Scientists, it explores different scientific discoveries and observations which even further confirm the†¦show more content†¦This specific island contained sedimentary rock that had apparently been there for approximately 375 million years. Why is this number important? Because it was predicted that around 375 million years ago shallow wate r fishes were slowly evolving into land creatures with four legs. The team of scientists believed that it was possible they found evidence of this hypothesis and they were not at all disappointed. What they found was the fossil of a Tiktaalik. A tiktaalik is a fish that had several characteristics of tetrapods, or a four-legged creature. The fossil showed that the fish had four fins on the front and back which contained bones that would allow the creature to prop itself up. This fossil is an example of what scientists call a transitional fossil. A transition fossil is a fossil which gives us evidence of a transition from one species to another. It is a fossil that is in between point A and point B. The tiktaalik is a superb example of this because it has characteristics of both a fish and a four-legged land creature, suggesting that over time the tiktaalik probably actually became a species of the land after several generations of them growing leg-like appendages. The tiktaalik woul d likely achieve evolving into a land creature through sexual reproduction. Reproduction plays a key role in biological evolution. When two creatures of the same species reproduce, the offspring receives DNA that belonged to both

Nanoparticles Free Essays

Therefore, nanoparticles could be the key factor for the future technologies. Scientific as well as public associations are paying their attention for nanoparticles technology as a good investment source. Nanoparticles could be produced via physical, chemical or biological methods (Haider and Kang, 2015; Ebrahiminezhad et al. We will write a custom essay sample on Nanoparticles or any similar topic only for you Order Now , 2017). Both chemical and physical methods use reducing agents such as sodium borohydride, sodium citrate and alcohols (Rai and Duran, 2011). However, using of microorganisms in synthesis of nanoparticles represents another great achievement because of the economic and ease production (Shelar and Chavan, 2014; Patel et al., 2015). Research revealed that biological methods is an inexpensive and eco-friendly way for synthesis of nanoparticles. This method used biological agents including bacteria, fungi, yeast and plants (Mourato et al., 2011). Recently, emerging such microorganisms as eco-friendly nano-factories to manufacture inorganic nanoparticles was attractive (Lee et al., 2004; Lengke et al., 2007). Fungi were mentioned as excellent candidates for metal nanoparticle synthesis because they contain many of enzymes that induce the production (Sastry et al., 2003). It was assumed that the mechanism involved in nanoparticles production by fungi was due to cell wall sugars that could reduce the metal ions (Mukherjee et al., 2002) and because they have the high cell wall binding capacity, metal uptake and secrete more amounts of proteins lead to the higher productivity of nanoparticles (Vahabi et al., 2011). Fungi have some advantages over the other microorganisms regarding the synthesis of NPs, because fungal mycelia are able to resist pressure, high temperature and easy storage in the laboratory (Kiran et al., 2016). There are many of metals for biosynthesis (NPs) such as copper, zinc, iron, iron trichloride, lead carbonate, gold and silver (Siddiqi and Husen, 2016). In addition, silver NPs could be synthesized by fungi either intracellularly or extracellularly but the extracellular biosynthesis downstream process much easier and showed more activities against many pathogens (Ahmad et al., 2003).Among the active fungi that were reported to produce nanoparticles; Rhizopous oryzae produced nanoparticles intracellularly of gold (Das et al., 2012), Verticillium sp extracellularly peodcued gold and silver nanoparticles (Soni and Prakash, 2014) in the size range of 20–51 nm. However, F. oxysporum produced nanoparticles of silver of 5–15 nm and 8-14 nm in diameter extracellularly (Ahmad et al., 2003; Senapati et al., 2005). Many other fungi were approved for their productivity of nanoparticles of different metals either extracellularly or intracellularly including: Phoma sp. (Chen et al., 2003), the endophytic fungus Colletotrichum sp. (Shankar et al., 2003), Aspergillus fumigatus (Kuber and D’Souza, 2006) , Fusarium acuminatum (Ingle et al., 2008) , Trichoderma asperellum (Mukherjee et al., 2008), F. semitectum (Sawle et al., 2008), Phoma glomerate (Birla et al., 2009), F. solani (Ingle et al., 2009) , plant pathogenic fungi Aspergillus niger (Gade et al., 2008; Jaidev and Narasimha, 2010). Aspergillus flavus (Vigneshwaran et al., 2007; Jain et al., 2011) , Paecilomyces lilacinus (Devi and Joshi, 2012), endophytic fungus Pencillium sp. (Singh et al., 2013), Aspergillus foetidus (Roy and Das, 2014), Rhizopus stolonifer (AbdelRahim et al., 2017), Penicillium Oxalicum (Bhattacharjee et al., 2017) and Trichoderma atroviride (Saravanakumar and Wang, 2018). Many recent reports have shown that production of nanoparticles by fungi are could be affected by various condition of temperature, biomass weight, time and pH ( Balakumaran et al., 2016; Liang et al., 2017; Othman et al., 2017). Husseiny et al. (2015) reported that most important factors that were affecting the biosynthesis of AgNPs were the temperature, pH, time, the concentration of AgNO3 and amount biomass. Narayanan and Sakthivel (2010) approved that incubation at 27 0C for 72 h with 7 pH and 10 g of the fungal biomass and 1mM concentration of AgNPs were considered the optimum conditions for production of AgNPs from AgNO3 by fungi. Researches showed some variations in the characteristics of the biosynthesized AgNPs by different fungal species. These variations could be due to the source of fungal isolates or strains and types of medium (Devi and Joshi, 2012; Roy and Das, 2014). When Alam et al. (2017) compared the different types of media, they found Czapex dox broth was a good medium to produce enough mycelial biomass to synthesize AgNPs. This because this medium contains essential carbon and nitrogen source along with other vital macro and micronutrients such as magnesium, sodium, calcium, potassium, iron and zinc which are vital for fungal growth.Nowadays, application of AgNPs confirmed their effectiveness in treatment of cancer, bone implant, anti-inflammatory and their biocidal activity against many bacteria and pathogens (Husseiny et al., 2015; Majeed et al., 2016). The antibacterial properties of AgNPs are due to the oxidation and liberation of Ag+ ions into the environment that makes it an ideal biocidal agent (Sivakumar et al., 2015). It is expected that the large surface area to volume ratio as well as high fraction of the surface atoms of the nanoparticles increase their antimicrobial activity as compared with bulk silver metal (Joy and Johnson, 2015). Moreover, the small size of the nanoparticles facilitates their penetration inside the cell. Additionally, excellent antibacterial properties exhibited by AgNPs are due to their well-developed surface which provides maximum contact with the environment (Mitiku and Yilma, 2017). Recent research approved the antibacterial activity of the silver nanoparticles against many bacteria especially those having the capability to cause severe disease for the human such as Salmonella enterica, Enterococcus faecalis, Streptococcus, Proteus mirabilis, Staphylococcus aureus, Escherichia coli, Staphylococci and Pseudomonas sp (Devi and Joshi, 2012; Shelar and Chavan, 2014; Muhsin and Hachim, 2016; Madakka et al., 2018; Saravanakumar and Wang, 2018). However, shape, dimension, and the exterior charge as well as the concentration of the AgNPs are important factors that affect the antimicrobial activity the nanoparticles against the tested bacteria (Madakka et al., 2018). Devi and Joshi (2012) approved the antibacterial activity of AgNPs comparing with erythromycin, methicillin, chloramphenicol and ciprofloxacin agents Staphylococcus aureus, Streptococcus pyogenes, Salmonella enterica and Enterococcus faecalis. They showed that the diameter of inhibition zones obtained by the silver-nanoparticles, with 5-50 nm in diameter, were more than those obtained by the antibiotics. Shelar and Chavan, (2014) showed that Bacillus subtilis and Staphylococcus sp were inhibited by silver nanoparticles with diameter of 17-32 nm in very close pattern to the standard antibiotic streptomycin. Muhsin and Hachim (2016) reported the best concentration of silver nanoparticles with diameter 8-90 nm that showed strong antibacterial activity against Escherichia coli, Proteus mirabilis, Pseudomonas aeruginosa, Salmonella typhi and Staphylococcus aureus streptomycin was 100 Â µl/ ml. Based on the above-mentioned information, we assume that fungi as bio-factories for the biogenic synthesis of the silver nanoparticles are very interesting during eco-friendly and safe technology, also for future application as antimicrobial agents. How to cite Nanoparticles, Papers

More than a Change of Heart free essay sample

â€Å"I’m not related to you!† My twelve-year old self made this sentiment perfectly clear to my father across the kitchen table. I wanted absolutely nothing to do with his half of my family tree. I would have been mortified if anyone had found out that my Uncle Jeff would soon become â€Å"Aunt Joanne†. The news could not have come at a worse time. I was just about to enter middle school, the biggest adjustment I would make since starting kindergarten. Now I had to figure out how to handle this family situation as well. Couldn’t Jeff have timed this better for my sake? Was that really too much to ask? He was going to tear apart the family with this news, not to mention his marriage with Barbara, my favorite aunt. Over the next few weeks these angry thoughts took a front row seat in my mind, resulting in hasty scribbles in my journal about how horrible and inconsiderate Jeff was and unexpected outbursts at friends and family. We will write a custom essay sample on More than a Change of Heart or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the coming months this juvenile anger subsided and my curiosity about thesituation grew. Since Jeff and Barbara lived in Boston, I couldn’t keep tabs on the small physical changes that my uncle was going through. Instead, multiple changes were thrown at me all at once. During one visit, his pierced ears and the lack of his trademark facial hair were the first indications that this was no joke; he was actually going to go through with becoming a woman. At this point I started to acknowledge that I would someday be okay with this decision. That came sooner than I anticipated. A few months after seeing Jeff with his pierced ears, I met Joanne. She was the same height as Jeff, wearing size 11 women’s shoes and a short brunette wig. Her voice was higher than his, but her smile was also wider and her hug tighter than Jeff’s had ever been. She was genuinely happy and comfortable as a woman. That day I surprised myself by becoming the first in my family to begin accepting that the person who stood in front of me was the same person I had known and loved all of my life. These days I see my aunt Joanne more regularly. I am comfortable with the woman she is today and the confidence with which she carries herself. She is the first transgender member of the boards of Point Foundation and of Gay and Lesbian Advocates and Defenders, as well as a columnist for â€Å"The Advocate†. Joanne’s openness about her transformation has helped me to be comfortable speaking to others about transgender people and my experiences with them. Of the many things her involvement in the LGBT community has taught me, the most important has been to embrace everyone’s differences, whether it be race, religion, sexual identity, or even something as simple as someone’s taste in music. My appreciation is much greater now for the unique qualities that each person brings to a relationship. Living in my very homogenous community, had I not gone through this with Joanne, I would have been ill-prepared for interactions outside of my town with people of completely different backgrounds and experiences. My world has been exponentially expanded, and I’m more willing than ever to meet new people and embrace our differences. I know now that having a transgender aunt will never define me, but that my aunt’s transformation helped to bring out positive traits in me that more accurately define my character. I am emotionally stronger, I stand up for what I believe is right, I am loyal to my friends and family, and I am a more patient, accepting person. I am proud of myself for becoming one of Joanne’s biggest fans and supporters. Most of all, I am grateful that Joanne and I could embark on our journey into womanhood together.

Stora Enso Co financial analysis

Stora Enso Co financial analysis A.In what ways has the company you have chosen made use of international financial market as a source of finance.Stora Enso is an integrated paper, packaging and forest products company producing publication and fine papers, packaging boards and wood products, areas in which the Group is a global market leader.Stora Enso sales totalled EUR 12.8 billion in 2002. The Group has some 42 500 employees in more than 40 countries in five continents and about 15 million tonnes of paper and board annual production capacity. Stora Enso's shares are listed in Helsinki, Stockholm and New York.Stora Enso serves its mainly business-to-business customers through its own global sales and marketing network. A global presence provides local customer service. Customers are large and small publishers, printing houses and merchants, as well as the packaging, joinery and construction industries worldwide. The main markets are Europe, North America and Asia.English: Stora Enso Baienfurt Mill Deutsch: Stora ...The Group has production facilities in Europe, North America and Asia. Its modern production capacity and the good integration between raw material, energy and efficient processes ensure production continuity.Stora Enso is committed to developing its business towards ecological, social and economic sustainability. This commitment is demonstrated through its values and its environmental and social policy, and has been recognised by selection for the Dow Jones DJSI World and DJSI STOXX sustainability indexes since they were launched in 1999. Stora Enso had the highest score in this sustainability ranking among forest products companies in 2002 . Stora Enso is also included in the FTSE4Good index.In the future, companies will be measured by more than just financial success. That is why we created the FTSE4Good Index Series, a family of benchmark and tradable financial indices.FTSE4Good indices have been designed to measure the performance of companies that meet globally recognized.. .

Current U.S. Supreme Court Justices History

Current U.S. Supreme Court Justices History The United States Supreme Court- often referred to as SCOTUS- was established in 1789 by Article Three of the United States Constitution. As the highest U.S. federal court, the Supreme Court has discretionary appellate jurisdiction to hear and rule on cases decided by all lower federal courts and state court cases that involve federal law, as well as original jurisdiction over a smaller range of cases. In the U.S. legal system, the Supreme Court is the highest and final interpreter of federal laws, including the Constitution itself. Under federal law, the full Court consists of the Chief Justice of the United States and eight associate justices who are all nominated by the President of the United States and confirmed by the Senate. Once seated, Supreme Court justices serve for life unless they retire, resign, or are removed after being impeached by Congress. Why Nine Justices? The Constitution did not and still does not specify the number of Supreme Court justices. The Judiciary Act of 1789 set the number at six. As the nation expanded westward, Congress added justices as needed to deal with cases from the growing number of judicial circuits; from seven in 1807 to nine in 1837 and to  ten in 1863. In 1866, Congress- at the request of Chief Justice Salmon P. Chase- passed an act stipulating that the next three justices to retire would not be replaced, thus reducing the number of justices back to seven. By 1867, two of the three justices had retired, but in 1869, Congress passed the Circuit Judges Act setting the number of justices to nine, where it remains today. The same 1869 law created the provision under which all federal judges continue to receive their full salaries after retiring. In 1937, President Franklin D. Roosevelt proposed a substantial and controversial enlargement of the Supreme Court. His plan would have added one new justice for every existing justice who reached the age of 70 years and 6 months and refused to retire, up to a maximum of 15 justices. Roosevelt claimed he wanted to ease the stress of the Court’s growing docket on elderly justices, but critics saw it as a way for him to load the Court with justices sympathetic to his Great Depression-busting New Deal program. Calling it Roosevelt’s â€Å"court-packing plan,† Congress rejected the proposal. Nevertheless, having been elected years before the adoption of the presidential term-limiting 22nd Amendment, Roosevelt would go on to appoint seven justices during his 12 years in office. Current Supreme Court Justices The table below shows the current Justices of the Supreme Court. Justice Appointed In Appointed By At Age John G; Roberts(Chief Justice) 2005 G. W. Bush 50 Elena Kagan 2010 Obama 50 Samuel A. Alito, Jr. 2006 G. W. Bush 55 Neil M. Gorsuch 2017 Trump 49 Brett M. Kavanaugh 2018 Trump 53 Sonia Sotomayor 2009 Obama 55 Clarence Thomas 1991 Bush 43 Ruth Bader Ginsburg 1993 Clinton 60 Stephen Breyer 1994 Clinton 56 * On June 20, 2018, Justice Anthony Kennedy, a crucial swing vote on the Supreme Court, announced his retirement effective July 31, 2018. Kennedy’s departure gave  President Trump the opportunity to appoint his second Supreme Court justice during just his first two years in office.   On July 9, 2018, President Trump nominated 53-year-old Brett M. Kavanaugh to replace Justice Kennedy on the Supreme Court. Appointed to the United States Court of Appeals for the District of Columbia Circuit by President George W. Bush in 2003, Judge Kavanaugh is considered a conservative, thus setting up a probable Senate confirmation battle and possibly solidifying the court’s conservative majority for a generation. Though she recently announced her intention to serve through 2020, the now 85-year-old liberal-leaning Justice Ruth Bader Ginsburg is expected to be the next justice to retire. In announcing Judge Kavanaugh’s nomination, President Trump described him as â€Å"one of the finest and sharpest legal minds in our time,† and declared him a jurist who would apply the Constitution â€Å"as written.† In accepting the nomination, Judge Kavanaugh, who once clerked for Justice Kennedy, promised that as a Supreme Court justice, he would â€Å"keep an open mind in every case.† But he also declared that judges â€Å"must interpret the law, not make the law.† On Saturday, October 6, 2018, the Senate voted along party lines 50-48 in favor of confirming the nomination. Later the same day, Brett M. Kavanaugh was sworn in as the 114th Associate Justice of the U.S. Supreme Court by Chief Justice John Roberts in a private ceremony. A Brief History of the US Supreme Court or SCOTUS As the final and ultimate legal interpreter of the U.S. Constitution, the Supreme Court of the United States, or SCOTUS, is one of the most visible and often controversial organizations in the federal government. Through many of its landmark decisions, like banning prayer in public schools and legalizing abortion, the Supreme Court fueled many of the most passionately heated and ongoing debates in America’s history. The U.S. Supreme Court is established by Article III of the U.S. Constitution, which states, â€Å"[t]he judicial Power of the United States, shall be vested in one Supreme Court, and in such inferior Courts as the Congress may from time to time ordain and establish.† Other than establishing it, the Constitution spells out no specific duties or powers of the Supreme Court or how it is to be organized. Instead, the Constitution empowers Congress and the Justices of the Court itself to develop the authorities and operations of the entire Judicial Branch of government. As the very first bill considered by the very first United States Senate, the Judiciary Act of 1789 called for the Supreme Court to consist of a Chief Justice and only five Associate Justices, and for the Court to hold its deliberations in the nation’s capital. The Judiciary Act of 1789 also provided a detailed plan for the lower federal court system merely alluded to in the Constitution as â€Å"such inferior† courts. For the first 101 years of the Supreme Court’s existence, the justices were required to â€Å"ride circuit,† holding court twice a year in each of the 13 judicial districts. Each of the then five justices was assigned to one of three geographical circuits and traveled to the designated meeting places within the districts of that circuit. The Act also created the position of U.S. Attorney General and assigned the power to nominate Supreme Court justices to the President of the United States with the approval of the Senate. The First Supreme Court Convenes The Supreme Court was first called to assemble on Feb. 1, 1790, in the Merchants Exchange Building in New York City, then the Nations Capital. The first Supreme Court was made up of: Chief Justice John Jay, from New York Associate Justices John Rutledge, from South CarolinaWilliam Cushing, from Massachusetts|James Wilson, from PennsylvaniaJohn Blair, from Virginia|James Iredell, from North Carolina Due to transportation problems, Chief Justice Jay had to postpone the first actual meeting of the Supreme Court until the next day, Feb. 2, 1790. The Supreme Court spent its first session organizing itself and determining its own powers and duties. The new Justices heard and decided their first actual case in 1792. Lacking any specific direction from the Constitution, the new U.S. Judiciary spent its first decade as the weakest of the three branches of government. Early federal courts failed to issue strong opinions or even take on controversial cases. The Supreme Court was not even sure if it had the power to consider the constitutionality of laws passed by Congress. This situation changed drastically in 1801 when President John Adams appointed John Marshall of Virginia to be the fourth Chief Justice. Confident that nobody would tell him not to, Marshall took clear and firm steps to define the role and powers of both the Supreme Court and the judiciary system. The Supreme Court, under John Marshall, defined itself with its historic 1803 decision in the case of Marbury v. Madison. In this single landmark case, the Supreme Court established its power to interpret the U.S. Constitution as the â€Å"law of the land† of the United States and to determine the constitutionality of laws passed by Congress and the state legislatures. John Marshall went on to serve as Chief Justice for a record 34 years, along with several Associate Justices who served for over 20 years. During his time on the bench, Marshall succeeded in molding the federal judicial system into what many consider to be todays most powerful branch of government. Before settling at nine in 1869, the number of Supreme Court Justices changed six times. In its entire history, the Supreme Court has had only 16 Chief Justices, and over 100 Associate Justices. Chief Justices of the Supreme Court Chief Justice Year Appointed** Appointed By John Jay 1789 Washington John Rutledge 1795 Washington Oliver Ellsworth 1796 Washington John Marshall 1801 John Adams Roger B. Taney 1836 Jackson Salmon P. Chase 1864 Lincoln Morrison R. Waite 1874 Grant Melville W. Fuller 1888 Cleveland Edward D. White 1910 Taft William H. Taft 1921 Harding Charles E. Hughes 1930 Hoover Harlan F. Stone 1941 F. Roosevelt Fred M. Vinson 1946 Truman Earl Warren 1953 Eisenhower Warren E. Burger 1969 Nixon William Rehnquist(Deceased) 1986 Reagan John G. Roberts 2005 G. W. Bush Supreme Court Justices are nominated by the President of the United States. The nomination must be approved by a majority vote of the Senate. The Justices serve until they retire, die or are impeached.  The average tenure for Justices is about 15 years, with a new Justice being appointed to the Court about every 22 months. Presidents appointing the most Supreme Court Justices include George Washington, with ten appointments and Franklin D. Roosevelt, who appointed eight Justices. The Constitution also provides that â€Å"[t]he Judges, both of the supreme and inferior Courts, shall hold their Offices during good Behaviour, and shall, at stated Times, receive for their Services, a Compensation, which shall not be diminished during their Continuance in Office.† While they have died and retired, no Supreme Court justice has ever been removed through impeachment. Contact the Supreme Court The individual justices of the Supreme Court do not have public email addresses or phone numbers. However, the court can be contacted by regular mail, telephone, and email as follows: U.S. Mail: Supreme Court of the United States1  First Street, NEWashington, DC 20543 Telephone: 202-479-3000TTY:202-479-3472(Available M-F 9 a.m. to 5 p.m. Eastern) Other Helpful Telephone Numbers: Clerks Office: 202-479-3011Visitor Information Line: 202-479-3030Opinion Announcements: 202-479-3360 Court’s Public Information Office For time-sensitive or urgent questions please contact the Public Information Office at the following number: 202-479-3211, Reporters press 1 For general questions that are not time-sensitive, email: Public Information Office. Contact the Public Information Office by US Mail: Public Information OfficerSupreme Court of the United States1 First Street, NEWashington, DC 20543

CMT3321 Coursework 2 Essay Example | Topics and Well Written Essays - 1750 words

CMT3321 Coursework 2 - Essay Example cesses and spaces for people find themselves stretching the provisions of prototyping elements to communicate and explore what it will require to integrate or understand the design concepts that are being developed. In this project, prototype has been used as a representation of the model made prior to the final artifact. It has been created to direct the design decisions and design process of the game. Generally, prototypes range from illustrations (sketches) and various kinds of models at different levels-â€Å"works like†, â€Å"behaves like† â€Å"looks like†-to find and find and inform on the propositions relating to the model and its background (Wilson, 2010). Within the modeled interactive system, prototype is key activity. Many a group of researchers and designers have been acting in extending the limits of prototyping the provisions of traditional techniques. They have also developed the understanding of the importance of different kinds of prototypes. For example, Hill and Houde discuss different purposes for archetypes as being important in the function an artifact all will achieve, its â€Å"feel and look† and how the system will be configured. Other works have described such as different degrees of reliability, archetypes for various audiences and designs for use in the setting of participatory models. Experience, in the context of prototyping, refers to the subjective, complex and dynamic phenomenon in an activity. Whether in the classroom or general environment, experience in prototype design depends on the perception of several characters of a model, interpreted via filters connected to contextual elements. With respect to the prototype used in this project, the perception of experience relates to Hill and Houde’s description of experience as the â€Å"feel and look† of a system or product. However, experience surpasses the feel and look of a system. The game designed in this project has the ability to serve an extra function in the life of the

Production Lab exercise Essay Example | Topics and Well Written Essays - 500 words

Production Lab exercise - Essay Example During the first round, I observed that most people still do not know what they are supposed to do. In fact, when the first order came in, many people were suggesting different ideas on how to accomplish the work, making things more difficult and complicated for me. Moreover, the first material that came in was not for the first order but rather, for the third order. This makes things even more confusing for me and for worker assembly 1 because both of us have to work together. It was really frustrating because I know that the rest of the material handlers were waiting for me to get my materials and pass it to them. After a while, I and my assembly worker got the hang of it and we got better and faster. We communicated better with the production control people and I communicated better with my assembly worker. The first round went well after all, as my team managed to finish all orders with no leftover inventories. This lowered our production budget and increased our profits. We mana ged to get $18 a minute for our first round. Then came the second round with a whole bunch of orders. It was making me a little nervous and anxious because our orders increased from 3- 5 to approximately 10-15. I felt so conscious seeing my assembly worker and the rest of the material handlers waiting for me to hand over something to them.

A New Ending for Romeo And Juliet Essay -- William Shakespeare

New Ending Act V, Scene III Verona. A churchyard; the monument of the Capulets. Enter Romeo and Paris. Paris This is that banished haughty Montague, That murdered my love’s cousin, with which grief It is supposed that fair creature died, And here is come to do some villainous shame To the dead bodies. I will apprehend him. Stop thy unhallowed toil vile Montague. Can vengance be pursued further than death? Condemned villian, I do apprehend thee. Obey and go with me, for thou must die. Romeo I must indeed, and therefor came I hither, Good gentle youth, tempt not a desperate man For thou nor any man shall prevent me from being with my love tonight, Put not another sin upon my head By urging me to fury. O be gone For I shall know not what I do but rather do what I must A madman’s mercy bid thee, run away. Paris I defy thee! For thou hast done my love great injustice. Romeo Her love is mine! Your love she shall never be! [they fight] [Paris is slain] Romeo Forgive me good sir For again, I know not what I do Inside the tomb of Capulet Romeo O Fair Juliet why must thou torture me so For even in death thy beauty is paralleled only by the stars in the sky. O Lord what great injustice hast thou done to thee For my love is gone And no greater crime against me can thou think of. Tis our familes’ to blame Not us. For they are blinded by tradition and driven by hatred. O but it matters not. Soon shall I be with thee and soon shall I once again be merry, For to live forth be n...

Reading Philosophies

Reading Philosophies Katy J. Kaldenberg Grand Canyon University: EED-470 Curriculum, Methods and Assessment: Literacy and Language Arts K-3 Monday, March 11, 2013 Reading Philosophies Chart Reading Philosophy| Brief Description| Reading Activities| Reading Assessments| Constructivist Reading Instruction| Constructivists view the student as an active participant in the learning process who constructs a personal meaning from each experience (Ying-Tien & Chin-Chung, 2005). One Constructivist reading activity for teaching a student a new word is that the student is taught to use picture cues to learn to read (Ying-Tien, & Chin-Chung, 2005). For example, if the student cannot read a word, he or she is taught to look at the picture then go back and to the word and guess the meaning. Another activity for constructivist reading instruction would be that the teacher would have students work in small groups to discuss a book that was read to the class. The small groups of students may then als o create their own story. Constructivist reading assessments would include the teacher collecting daily performance samples of work, observing and recording student’s behavior, audio and videotaping students in different situations, and building a portfolio filled with information about each student (Ying-Tien & Chin-Chung, 2005). The evaluation process is for the teacher, parent, and child. Conferences can also be held to discuss progress. | Explicit Reading Instruction| Explicit reading instruction is teacher directed (Goeke, 2009).The teacher uses explanation and demonstration to teach specific reading skills and strategies (Goeke, 2009). The teacher also provides corrective feedback to his or her students as the students attempt to apply the new knowledge (Goeke, 2009). | An example of explicit reading instruction would be that the teacher would state the sound and spelling of a specific letter-sound correspondence and then demonstrate by modeling how to read words that i nclude that feature to the class (Taylor, Peterson, Pearson, & Rodriguez, 2002).The students then would practice but only after the teacher has modeled the process first. A second example of explicit reading instruction would be to teach decoding to students that have deficits in word reading. A third example of explicit reading instruction would be having students use the mnemonic DISSECT (Discover the context, Isolate the prefix, Separate the suffix, Say the stem, Examine the stem, Check with someone, and Try the dictionary) to read unknown words (Adams & Engelmann, 1996). The teacher would teach each strategy step explicitly (Adams & Engelmann, 1996).An important part of explicit reading instruction is that the teacher always describes the strategy, provides the rationale for its use, and states how and when to implement a strategy explicitly to the students and the instruction is always implemented systematically (Adams & Engelmann, 1996). | Explicit reading assessments would in clude having student answer multiple-choice questions about selected text passage; decoding assessments can also be given (Taylor, Peterson, Pearson, & Rodriguez, 2002).One example of a decoding assessment would be that the student is given isolated words one at a time, and the student is asked to say the word aloud. The words selected for a decoding assessment should be words that are within the student’s spoken vocabulary, and should contain a mix of phonetically regular and phonetically irregular words (Goeke, 2009). Another type of assessment is that of standardized tests such as the Diagnostic Assessments of Reading (DAR) and the Florida Assessments for Instruction in Reading (FAIR). | Reading Philosophies Summary The educational realm is not free from disputes.Disputes on reading instructional practices have been ongoing for more than half a century. On one side of this debate is composed of those who believe that students learn best when they are able to discover and c onstruct the essential information for themselves. This type of instruction is often called student-centered or constructivist instruction (Confrey, 1990). On the opposite side of this debate are those who believe that students only thrive when full, explicit instruction is given and student should not have to discover essential content (Goeke, 2009).This type of instruction is often referred to as direct or explicit instruction (Goeke, 2009). When speaking about reading instruction, this debate has often been coined as the â€Å"reading wars†. Constructivist Reading Instruction is derived from the theory of constructivism. One could assume that constructivism is derived from Piaget’s own reference to his views as being a â€Å"constructivist† or possible from Bruner’s description of learning discovery as â€Å"constructionist† (Gruber & Voheche, 1977).Some other terms that have been used to reference a constructivist way of learning include genera tive learning, situated learning, authentic learning, and educational semiotic (Wittrock, 1985; Cunningham, 1992). Constructivists believe that all learning should be student centered. They think that knowledge is obtained only during a meaning-making search where the student is involved in the process of constructing their own interpretations of their experiences.Constructivist generally agree that students much construct their own learning, all new learning is dependent on the student’s existing understanding, social interaction plays a critical role in learning, and authentic learning tasks are necessary for learning to be meaningful (Bruning, Schraw, & Ronning, 1995; Pressley, Harris, & Marks, 1992). According to constructivists, in order for a student to construct new meaning he or she needs to make every effort to make sense of all new experiences and then must relate those to experiences to what is already known (Confrey, 1990).Constructivists also claim that a catalys t for acquiring knowledge is dialogue and social interaction facilitates understanding (Brown, 1994). Constructivist teachers aim to provide cooperative learning tasks and peer tutoring for their students. Constructivist teacher often believe that students learn faster when they are actively involved in dialog with their peers about significant problems (Brooks & Brooks, 1993). The constructivist classroom would be filled with students roaming about the classroom obtaining supplies, conferring with peers or the teacher, and working on self-directed projects (Brooks & Brooks, 1993).Constructivist teachers pride themselves in asking big questions, providing time for student to think and explore to find answers (Brooks & Brooks, 1993). In an actual classroom, there are many flaws involved in practicing constructivist instruction. The first major problem is that often only the brightest students make the discovery that is needed (Pace, 2011). Another issue is that many students become f rustrated. This frustration many cause some students to disengage and other students may simply copy whatever their peers are doing regardless in either case the students never actually discover anything (Pace, 2011).A third issue is that some students may believe they have made a discovery but in fact, they have only learned a misconception (Pace, 2011). These misconceptions can then interfere with future learning and problem solving (Pace, 2011). Studies have shown that once a student has believed one of these misconceptions that even after they have been show the correct answer they are still likely to recall the original discovery and not the correction (Pace, 2011). Along with the above four issues studies have shown that constructivist instruction can result in an increase in achievement gap (Pace, 2011).Decades of research has validated that explicit instruction is much more effective for reading instruction when compared to constructivist reading instruction. Kirschner, Swel ler, and Clark (2006) states, â€Å"After a half-century of advocacy associated with instruction using minimal guidance, it appears that there is no body of research supporting the technique. In so far as there is any evidence from controlled studies, it almost uniformly supports direct, strong instructional guidance rather than constructivist-based minimal guidance. Kirschner, Sweller, and Clark (2006) also reports, â€Å"†¦ Not only is unguided instruction normally less effective; there is also evidence that it may have negative results when students acquire misconceptions or incomplete or disorganized knowledge. † Research has shown that when teaching new skills and content to students, providing explicit instructions accompanied with practice and feedback is more effective than requiring students to discover many aspects of what they are to learn (Hall, 2002). Explicit instruction is teacher directed.The teacher provides the students with a full explanation of the n ew skill or concept that the student is required to learn (Hall, 2002). The teacher also uses a variety of accommodations such as lecturing, modeling, videos and other media, and demonstration to provide the students with proper guidance (Hall, 2002). Students need to be explicitly shown what to do and how to do something first and then they need to be given the opportunity to practice doing it while they receive corrective feedback from the teacher (Hall, 2002). Extensive research supports explicit instruction’s success as an evidence-based practice.Adams and Engelmann (1996) found thirty-seven research publications validating the effectiveness of explicit instruction. These research publications all reported that explicit instruction had a significant outcome on reading instruction. Research also found explicit instruction to be as valuable for typical students, as for students with disabilities. The National Follow-Through Project studied multiple models of instruction to determine the most effective instructional models for students who were economically disadvantaged (Rosenshine, 1995; Taylor, Peterson, Pearson, & Rodriguez, 2002).The results concluded that children who received explicit instruction in literacy and mathematics scored above those taught with other approaches. An additional result was increased self-esteem due to success in school (Rosenshine, 1995; Taylor, Peterson, Pearson, & Rodriguez, 2002). The National Follow-Through Project belonged to a group of studies on teacher effectiveness, which determined that explicit instruction effectively taught students what they needed to learn (Rosenshine, 1995; Taylor, Peterson, Pearson, & Rodriguez, 2002).Baumann and Duffy (2001) reported on five years of research that showed that reading skills and strategies are most effectively taught with systematic and explicit instruction. In conclusion, explicit instruction is vital for initial instruction in skill acquisition (Goodman, Goodman, & Hood, 1989). This is especially the case for struggling readers, who often require intense support to acquire reading skills (Goodman, Goodman, & Hood, 1989). Beginning reading instruction should emphasize explicit instruction, particularly for phonics instruction (Goodman, Goodman, & Hood, 1989).Constructivist instruction is important when generalizing skills to other contexts (Goodman, Goodman, & Hood, 1989). It can also be used when children explore children’s literature. Story structure can be taught with constructivist instruction and may be more meaningful to children than teaching it explicitly (Goodman, Goodman, & Hood, 1989). The Whole Language Movement is built upon Constructivist principles (Goodman, Goodman, & Hood, 1989). References Adams, G. and Engelmann, S. (1996).Research on Direct Instruction: 25 years beyond DISTAR. Seattle, WA: Educational Achievement Systems. Brooks, J. G. & Brooks, M. G. (1994). In search of understanding: The case for constructivist classroo ms. Alexandria, VA: Association for Supervision and Curriculum Development. Brown, A. L. (1994). The advancement of learning. Educational Researcher 23: 4-12. Bruning, R. H. , Schraw, G. J. & Ronning, R. R (1995). Cognitive psychology and instruction, 2nd ed. Englewood Cliffs, NJ: Prentice Hall. Baumann, J. F. , & Duffy, A.M. (2001). Teacher-research methodology: Themes, variations, and possibilities. The Reading Teacher, 54, 608-615. Confrey, J. (1990). What constructivism implies for teaching. In R. B. Davis, C. A. Maher & N. Noddings (Eds. ), Constructivist views of the teaching and learning of mathematics (Journal for Research in Mathematics Education, Monograph No. 4, pp. 107-122). Reston, VA: National Council of Teachers of Mathematics. Cunningham, D. J. (1992). Beyond educational psychology: Steps toward an educational semiotic.Educational Psychology Review 4: 165-194. Goeke J. L. (2009). Explicit instruction: Strategies for meaningful direct teaching. Boston: Merrill/Pearson . Goodman, K. , Goodman, Y. & Hood, W. (1989). The whole language evaluation book. Portsmouth, NH: Heinemann. Hall, T. (2002). Explicit instruction. Wakefield, MA: National Center on Accessing the General Curriculum. Retrieved Wednesday, March 13, 2013 from http://aim. cast. org/learn/historyarchive/backgroundpapers/explicit_instruction. Kirschner, P. A. , Sweller, J. , & Clark, R. (2006).Why minimal guidance during instruction does not work: An analysis of the failure of constructivist, discovery, problem-based, experiential and inquiry-based teaching. Educational Psychologist, 41, 75–86 Pace, D. (2011). Best practice: The use of explicit instruction and culturally responsive teaching. Insights on Learning Disabilities, 8(2), 5-14. Pressley, M. , Harris, K. R. , & Marks, M. B. (1992). But good strategy instructors are constructivists! Educational Psychology Review 4: 3-31. Rosenshine, B. (1995). Advances in research on instruction. Journal of Educational Research, 88, 262â⠂¬â€œ268.Stanovich, K. E. (1994). Constructivism in reading education. Journal of Special Education, 28(3), 259. Taylor, B. M. , Peterson, D. S. , Pearson, P. D. , & Rodriguez, M. C. (2002). Looking inside classrooms: Reflecting on the â€Å"how† as well as the â€Å"what† in effective reading instruction. The Reading Teacher, 56, 270–279. Wittrock, W. C. (1985). The generative learning model and its implications for science education. Studies in Science Education 12: 59-87. Ying-Tien, W. , & Chin-Chung, T. (2005). Effects of constructivist-oriented instruction on

Comparison of Marx, Durkheim and Weber - 1622 Words

Response Paper #1 Marx, Weber, Durkheim, introducing the godfathers of sociology. Three of the most influential theorists that are debated on and about till our present time. How have three very different individuals in history have maintained the template as we know it to understanding society, which has been over three centuries old? How is it that three different worlds and times in history, has had such familiarization not only for their respected times but a revelation to today’s systems and structures. Let us explore the minds and studies of the three men, and discover were they either Genius’ or foe? Summary: The â€Å"Manifesto of the Communist Party† by Karl Mark was first written in 1848 in a time where rules on workers and†¦show more content†¦Law is a major factor that Durkheim basis a lot off. A sort of symbolism and order to social life two types of law can be observed. Repressive law (punishing the guilty) and Restitutive law (restoring correctives to the offender). Durkheim applied that more mechanical solidarity. Anomie is introduced as the deregulation that was occurring society. He sheds the light on how people were supposed to act with each other were breaking down and at a time didn’t know what to except from each other. Anomy literally translates† the state or condition of individuals or society characterized by a breakdown or absence of social norms and values (dictionary.com.)†. Max Weber in 1922 writes â€Å"Bureaucracy†, where weber believed that structured organizations is a formal, rigid authoritative figure, whereas Weber wa s referring to the types of businesses that ran their organization like a family type, informal structure. He believed that those in a managerial position should be appointed due to their levels of professionalism and expertise. â€Å"The principle of office hierarchy and of channels of appeal stipulate a clearly established system if super- and subordination in which there is a supervision of the lower offices by the higher ones (Weber 2007: p.265).† Weber explains in his writings that the old ways such as feudalism in his time should be done away with, and that society changes their structure to a more organization of hierarchical principle. ForShow MoreRelated Comparisons of the Ontological Positions of Marx, Durkheim and Weber836 Words   |  3 Pages Comparisons of the ontological positions of Marx, Durkheim and Weber. Presenting any comparisons of Marx, Durkheim and Weber necessitates a homogeneous delineation of ontology. 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Hobby Lobby Contraceptive Case - 910 Words

Hobby Lobby Contraceptive Case In this case, the issue was that through Obama health care it is required that all for-profit corporations provide contraceptive services to all employees. And with this law in place it exempts all religious nonprofit corporations but does not exempt for-profit corporations whether they are religious or not. Hobby Lobby is a for-profit corporation and the owners are very conservative and religious and they feel that they should also be exempt from this health care law because they are against taking a life away. They feel that contraceptives get in the way of a life being born. Hobby lobby founder argues that they are being required to do something that they are against. PUTTING IT ON THE EMPLOYEES One of the main viewpoints discussed in the article was that with the past court cases, they have never discovered a for-profit corporation and/or organization to be religious. And that if they let every company who refuses to abide by this law be exempt because they are a religious company, the government would fall apart. Walter Dellinger, who was a part of the Clinton administration, explained that the employees of hobby lobby shouldn’t have to share the same beliefs as the owners of the company because it’s not like the company is a religious corporation it’s only the owners and they cannot make them feel the same way as them because they are only employees. But Paul Clement, who was a part of the Bush Administration, says that, that is notShow MoreRelatedThe Religious Freedom Restoration Act1309 Words   |  6 Pagesare i.e., religious or secular. Such as in the legal case of Burwell (U.S. Secretary of Health and Human Services) vs. Hobby Lobby. 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Analysis Of Edgar Allan Poe s The Imp Of The Perverse

Mariana Falossi Professor O’Brien LTEN 176 November 8 2017 The Imp of the Perverse American writer and critique Edgar Allan Poe is very well known for his gothic tales of mystery, suspense, and horror. While his impressive collection of work carry thrilling themes of fear, death, and tragedy, Poe’s work goes beyond the purpose of literary entertainment and revealing his own inner demons. His writing may be heavily influenced by his own dark and tragic experiences and losses, but it also reveals unique characteristics of the disturbing nature of all people in general. One of these characteristics is explained in his short murderous tale The Imp of the Perverse. This tale explains how a significant part of human nature is driven by†¦show more content†¦Ã¢â‚¬Å"In the consideration of the faculties and impulses -- of the prima mobilia of the human soul, the phrenologists have failed to make room for a propensity which, although obviously existing as a radical, primitive, irreducible sentiment, has been equally overlooked by all the moralists who have preceded them† (____) The narrator explains how this is a failure which leaves room for error, and believes that root of impulsive behavior leading people to experience perversion for example is prima mobilia, which is in fact a part of the soul. He defines perversion as the impulse of doing something counterintuitive to to self help. Overall the idea of acting on impulse was not being studied and ignored. The narrator feels strongly that people should study and understand all sides of man, and especially the perverse side. He believes that the way men live should be based on nature rather than how they â€Å"should be living.† This is not to say that men should commit murder, rather simply understand what they are capable of and to explain the natural desire to do so. â€Å"It would have been wiser, it would have been safer, to classify (if classify we must) upon the basis of what man usually or occasionally did, and was always occasionally doin g, rather than upon the basis of what we took it for granted the Deity intended him to do)____) Idealistically people

Analysis Of Edgar Allan Poe s The Imp Of The Perverse

Mariana Falossi Professor O’Brien LTEN 176 November 8 2017 The Imp of the Perverse American writer and critique Edgar Allan Poe is very well known for his gothic tales of mystery, suspense, and horror. While his impressive collection of work carry thrilling themes of fear, death, and tragedy, Poe’s work goes beyond the purpose of literary entertainment and revealing his own inner demons. His writing may be heavily influenced by his own dark and tragic experiences and losses, but it also reveals unique characteristics of the disturbing nature of all people in general. One of these characteristics is explained in his short murderous tale The Imp of the Perverse. This tale explains how a significant part of human nature is driven by†¦show more content†¦Ã¢â‚¬Å"In the consideration of the faculties and impulses -- of the prima mobilia of the human soul, the phrenologists have failed to make room for a propensity which, although obviously existing as a radical, primitive, irreducible sentiment, has been equally overlooked by all the moralists who have preceded them† (____) The narrator explains how this is a failure which leaves room for error, and believes that root of impulsive behavior leading people to experience perversion for example is prima mobilia, which is in fact a part of the soul. He defines perversion as the impulse of doing something counterintuitive to to self help. Overall the idea of acting on impulse was not being studied and ignored. The narrator feels strongly that people should study and understand all sides of man, and especially the perverse side. He believes that the way men live should be based on nature rather than how they â€Å"should be living.† This is not to say that men should commit murder, rather simply understand what they are capable of and to explain the natural desire to do so. â€Å"It would have been wiser, it would have been safer, to classify (if classify we must) upon the basis of what man usually or occasionally did, and was always occasionally doin g, rather than upon the basis of what we took it for granted the Deity intended him to do)____) Idealistically people

Analyzing Financial Ratios Free Essays

string(28) " throughout the Terry case\." The Terry Project: Creating and Modifying the Financial Statements Acct 315 Project Instructor: Dr. Jason Porter Introduction Most college courses in accounting focus on teaching the various components of the accounting system. While this is an effective way to learn and master each of the various components, it usually leaves students with only a vague notion of how those components work together. We will write a custom essay sample on Analyzing Financial Ratios or any similar topic only for you Order Now My goal is to bridge that gap using the Review Project and this Terry Project. The goal of the Review Project is to take you through the full accounting cycle, allowing you to practice each step and use it as you move on to the next step. This project, on the other hand, will help you to consider a series of individual situations, how they should be accounted for and what each will do to the company’s bottom line. Basically, this project has three goals: 1) to give you practice with at least one of the important topics we will cover in each chapter; 2) to encourage you to consider the consequences of business decisions on the financial statements; and 3) to provide you with an opportunity to work with a small group or partner to solve accounting problems. To accomplish the first goal, I have provided you with some basic information about the financial accounts already prepared by Terry Co. For most of the chapters we cover, I will give you information about at least one transaction that Terry’s accounting department has not yet recorded. It will be up to you to determine whether any adjustment needs to be made because of this new information. If so, then you will need to make the appropriate journal entries (including any tax effects). To accomplish the second goal, each assignment will require to you create or adjust Terry’s financial statements based on your adjusting entries. In most cases, you will then have the opportunity to look at several commonly used financial ratios to determine what effect your changes will have on investors’ opinion of Terry Co. To accomplish the third goal, you will work with a partner (or partners, depending on the class size) of your choice. Because of the way the system is set up for grading, once you have set up your Terry teams you will have to continue with that team for the rest of the semester. Your choice of partner is due at 5:00pm on the due date given in the course schedule. If necessary, you may use the Terry Groups discussion link in Blackboard to help you find a partner. You will have an opportunity to evaluate your partner at the end of the semester. These evaluations will be an important part of your grade on this assignment, so make sure that you are a team player. For those of you who are accounting majors, this project will provide you with some experience in the types of activities you will be doing throughout your professional careers: making journal entries, fixing financial statements, recognizing the effects of certain decisions of the financial statements, and discussing those effects with others. For those of you who are majoring in other areas, this project will provide you with some perspective on how your business decisions will affect the way investors, creditors, and other outside stakeholders see your company. Remember that most investors see only the financial statements, so you must impress them with those numbers if you are to get the funding you need. Since GAAP is relatively strict on how information must be reported once the transaction has been performed, you will need to know the financial statement effects of your options before you make your decision. This project will help you get a feel for how various decisions will affect the financial statements and the financial ratios. Finally, remember that accounting is not only important, it’s also fun! And this project has been written to give you lots of opportunities for fun. Grading Each part of the project will be worth 25 points. The journal entries, if any are needed, will be worth 10 points, the corrections to the account balances and financial statements will be worth 9 points, and the interpretation of effects (including changes to the financial ratios) will be worth 6 points. In some cases (see the instructions for Problems 1-3), this scale will be adjusted slightly due to the nature of the problem. Partial credit will be awarded on the work you show. I can’t give partial credit if I only see a summary number or if I can’t find or understand your work, so please take the time to show your work and label it clearly. Your files (see below) should be formatted so that they print out clearly and easily on standard portrait pages. Each part of the project should be turned in to the appropriate assignment drop box in Blackboard by 11:00pm on the due date given in the course schedule. Please note that because we will talk about this project in class, NO LATE WORK WILL BE ACCEPTED for this project after noon on the day following the due date. The assignments are cumulative, meaning that you will use the information from part #1 to answer part #2, and the information from part #2 to answer part #3. In order to help eliminate carry through error, I will post the solution to each part after the due date. It will be your responsibility to correct your answers (and your Excel spreadsheet) before moving on to the next part. Since the final part of this project is due during finals week, it is not required. Instead, it will be worth 15 bonus points on the Terry Project. If you choose to complete the final part of the project, you must turn it in by 11:00pm on the due date in the course schedule to get the bonus points. Rounding All journal entries should be rounded to the nearest dollar throughout the Terry case. You read "Analyzing Financial Ratios" in category "Essay examples" If you do not round appropriately, you will soon find that your balance sheet will not completely balance. You will be off by $1 or $2, especially in the later projects. Rounding as you go will ensure that this does not become a problem. EPS should be rounded to the nearest penny ($0. 01) through the case and all other ratios should be rounded to three (3) decimal places (0. 001). Background Information Terry Co. sells backpacks, laptop bags, briefcases, and other bags. The bags are purchased already made, then the Terry branding and finish is added. Because of several exclusive contracts and high quality products, the company has a strong following in its home state of Georgia and the surrounding area. In addition to its own brand, the company also has contracts with many colleges, firms, and local organizations to sell bags with these other groups’ logos. This practice has greatly increased Terry’s sales, especially since the company is usually able to use lower quality inventory to fill these orders (this leads to lower costs for the other groups without damaging Terry’s reputation). Because of its success during the past two (2) years, Terry was able to go public in January of last year. This has given the company additional capital to grow, as well as allowing the original owners to diversify some of their risk. Management’s goal now is to begin marketing in the Northeast and Central regions of the country. If they are successful, they will continue on to the West Coast within a few years. Since much of their advertising is done through personal contacts and word of mouth, their growth will be slow. While that worries some of their new investors, recent economic trouble has left many investors pleased with the management team’s more cautious growth. In their rush to go public, Terry’s management has forgotten one small detail. They have not created a very strong accounting department. While their auditors have been willing to help them clean up their books in the past, the managers are starting to realize that their lack of in-house accounting expertise is a problem. During the past year they engaged in several transactions and decisions that might have important repercussions on their financial statements, and they didn’t know it. In an effort to start cleaning up their accounting system, they have finally hired you and your partner. Your first job will be to go through Terry’s decisions for the year and clean up any mistakes that have been made, and to record any transactions that have been missed. In the future, you will be expected to give management good advice about the accounting consequences of their actions before decisions are made. Based on recommendations from their auditor and SEC regulations, Terry uses an accrual accounting system based on U. S. GAAP. The company’s fiscal year end is December 31st. Since Terry is a relatively small public company with an easy audit, the auditors don’t usually arrive until about January 15th. However, you are expected to have the financial statements ready to go by January 1st so that upper management can issue an earnings announcement to the stockholders. Although an earnings announcement is known to be unaudited, investors are traditionally very harsh with companies that have a final earnings number below the initial earnings announcement. You will need to be as accurate as possible in order to avoid this type of market consequence. Terry Part #1: Chapter 3 Goal: To practice making necessary correcting and adjusting entries and using them to create an adjusted trial balance. (See Topic Guides AC 6, 11, 12, 14). Information: The table on the next page reports Terry’s account balances on December 31st for the current and prior years. The following entries have not yet been made for the current year: * During the year the board declared and paid an $250,000 dividend. * During the year the sales department wrote off $500,000 of accounts receivable (already included in the current account balances). They have now decided that 18% of their ending A/R balance is uncollectible. Terry uses the % of A/R method for recognizing bad debt expense. * On June 1st, a year’s lease on a new warehouse was prepaid for $90,000. The original payment was recorded appropriately, but no other entries have been made for this contract since that time. Terry’s reported income tax expense (see below) includes an estimate for this year’s taxes. Only the three adjustments mentioned above have not yet been included in this tax estimate. Because of this, you will need to record any tax effects from the transactions throughout this case (starting with the tax effects, if any, of these three entries). Since another tax paymen t will not be made until April, these adjustments should be accounted for in Income Tax Expense and Income Tax Payable. Terry’s tax rate is 30%. Assignment: * 1. Make the appropriate journal entries, if any, to account for the adjustments mentioned above (including any necessary changes to income tax expense). 2. Create Terry’s Year 2 adjusted trial balance. Hint: Trial balances need to be in a specific order and they are only for the current year! Terry Co. | Account Balances| As of 12/31/Year 2| | | | | Year 2| Year 1| A/R| $2,250,000| $2,125,000| Accounts Payable| $1,177,263| $1,500,000| Accumulated Depreciation| $3,000,000| $2,500,000| Additional Paid-In Capital| $750,000| $750,000| Advertising Expense| $468,750| $150,000| Allowance for Bad Debts| $125,000| $625,000| Building| $2,000,000| $2,000,000| Cash| $1,500,000| $1,250,000| Common Stock | $1,000,000| $1,000,000| ($1 par, 2,000,000 authorized, 1,000,000 outstanding)| Cost of Goods Sold| $13,683,969| $4,400,000| Current Portion of Loan Payable| $125,000| $125,000| Depreciation Expense| $500,000| $180,000| Equipment| $7,000,000| $3,250,000| Executive Salaries Expense| $1,093,750| $500,000| Expansion Fund| $750,000| $750,000| Income Tax Expense| $1,316,887| $450,000| Income Tax Payable| $437,500| $250,000| Insurance Expense| $37,500| $45,000| Interest Expense| $159,375| $50,000| Inventory| $3,000,000| $3,500,000| Land| $2,750,000| $1,750,000| Loan Payable| $625,000| $750,000| Loans to other businesses| $1,000,000| $1,000,000| Miscellaneous Admin. Expenses| $12,344| $8,000| Miscellaneous Selling Expenses| $121,875| $40,000| Notes Payable| $3,500,000| $2,000,000| Office Supplies Expense| $96,875| $75,000| Patents| $375,000| $375,000| Prepaid Insurance| $187,500| $375,000| Prepaid Rent| $312,500| $250,000| Rent Expense| $90,625| $15,000| Rent Revenue| $78,125| $19,000| Retained Earnings| | $6,437,500| Sales Discounts| $250,000| $50,000| Sales Force Salaries Expense| $343,750| $155,000| Sales Returns| $2,187,500| $500,000| Sales Revenue| $25,000,000| $8,000,000| Selling Commissions Expense| $1,250,000| $40,000| Shipping Expense| $204,688| $100,000| Unearned Revenue| $625,000| $375,000| Utilities Expense| $187,500| $80,000| Wages Payable| $250,000| $312,500| Terry Part #2: Chapter 4 Goal: * To practice creating a multi-step income statement in good form. (See Topic Guides AC 15, 16, 17, 25). Information: * Now that all of the necessary adjusting entries have been made and an adjusted trial balance prepared, management would like you to create Terry’s financial statements. In addition to creating the financial statements, Terry’s management has asked you to calculate the following financial ratios: * * Profit Margin (NI / Net Sales) * Times Interest Earned (Income before Interest and Taxes / Interest Expense) * EPS (NI / Common Stock Shares Outstanding) Assignment: * 1. Create a multi-step income statement in good form for Terry Co. for Year 2. Although Terry uses a perpetual inventory system, the purchasing department has kept track of the following inventory information (for use in creating the multi-step income statement): Purchases| $13,470,313 | Purchase Discounts| $202,031 | Purchase Returns| $112,438 | Purchase Allowances| $175,000 | Shipping Charges (i. e. Freight In)| $203,125 | * * The following information can be used to break down Terry’s operating activities: * * Reported depreciation expense is for administrative, not selling, equipment. * Shipping expense refers to shipping out sales orders. * Insurance, rent, and utilities costs are treated as administrative expenses. * If you have other questions about how the operating activities should be broken down, please ask the instructor! 2. Calculate the three (3) ratios listed above. Please round your ratios to three decimal places on all parts of the Terry Project! 3. If appropriate, include the ratios in the income statement. Terry Part #3: Chapter 5 Goal: * To practice creating a balance sheet in good form. (See Topic Guides AC 17, 22, 25). Information: * Now that all of the necessary adjusting entries have been made, an adjusted trial balance prepared, and a n Income Statement finished, you are ready to create Terry’s last two financial statements: the balance sheet and the statement of cash flows. After you have created the balance sheet, Terry’s management has asked you to calculate the following financial ratios: * * Current Ratio (Current Assets / Current Liabilities) * ROA (Net Income / Average Total Assets) * ROE ([Net Income – Preferred Stock Dividends] / Average Total Equity) Assignment: * 1. Create a balance sheet in good form for Terry Co. for Year 2 (HINT: Follow the U. S. GAAP format we discussed in class). 2. Calculate the three (3) ratios listed. Extra Credit: * Although it is an important skill, I am not requiring you to create Terry’s Statement of Cash Flows. However, if you would like the extra practice in creating this important financial statement, you can earn up to 10 bonus points by giving it a try. The grading for the extra credit will be similar to the grading on the rest of the project. Whether you attempt the bonus or not, the solution to this portion of the project will include the statement of cash flows for use in future assignments. Terry Part #4: Chapter 7 Goal: * To practice factoring accounts receivable, and to observe the effects of factoring on the three main financial statements. (See Topic Guides A 10, 35, 36). Information: * During December, Terry’s management decided to factor part of its accounts receivable in order to get some additional cash and to eliminate the time and effort involved in collecting their delinquent accounts. * After some negotiations, Terry’s CFO made a deal with the First National Collections Bank. First National will buy 70% of Terry’s accounts receivable, with recourse. The bank will only charge a 2% financing charge for the transaction but will hold 8% of the A/R being sold to cover any returns and discounts that may occur after the sale. Upon reviewing the accounts being sold, Terry’s collections officers believe that only 11% of these accounts might default. The deal was completed on December 31st, but has not yet been included in the financial statements. * Terry’s management would like to know the effect of the sale on the following ratios: * * Quick Ratio ([Cash + Cash Equivalents + net A/R] / Current Liabilities) * Accounts Receivable Turnover Ratio (Net Sales / Average net A/R) * Current Ratio * ROA Assignment: * 1. Calculate each of the four (4) ratios before you make any adjustments. . Make the appropriate journal entries, if any, to account for the factoring of A/R (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. 4. Calculate the four (4) ratios after you make any adjustments. 5. What do you think the investors’ reaction will be to management’s decision to factor A/R? In other words, based on your changes to the fi nancial statements and the changes in the ratios, do you think investors will be happy with the decision? Why or why not? Hints: * 1. Don’t try to change Bad Debt Expense. However, you will need to close part of the Allowance for Bad Debts (the same percentage as you are selling! ). 2. If you are using my solutions as your template (available in Module 2), any changes that need to be made to Income Tax Expense will be made automatically, as will many of the changes to the Statement of Cash Flows. 3. The sale of A/R will not affect the cash flow from customers, so you will need to manually readjust the Change in A/R in your statement of cash flows to be the same as it was before the adjustments. 4. Your statement of cash flows will not need to include any new balance sheet ccounts you have created, but you will need to add two (2) line items somewhere in the Statement. 5. It is usually up to the individual analyst to decide whether or not to include the ‘Due from’ account as part of A/R when calculating the financial ratios. In this case, however, the company has decided that you should include ‘Due from’ as part of accounts re ceivable. Terry Part #5: Chapter 8 Goal: * To practice correcting the financial statements for an inventory calculation error. (See Topic Guides A 13, 14, 35, 36). Information: * Terry’s management is afraid that an error was made when calculating COGS. Most of the calculations have already been checked by the auditors, but management still thinks that one inventory item has not been correctly recorded. They would like you to go back through the inventory calculations for that item to correct any possible mistakes. Currently they show that 1,000 units of item TC178, purchased for $22 each, were on hand at the beginning of the year. During the year $630,000 worth of TC178 was purchased, discounts of $6,000 were earned by making early payments on these purchases, and $3,000 worth of returns were made during the year. The records show that all units of TC178 had been sold by the end of the year. * Terry uses the perpetual LIFO system for calculating inventory. Their inventory transactions for item TC178 for the period are as follows: (NOTE that the vendor provides free shipping on all units of TC178) * * At the beginning of the period, 1,000 units of TC178, purchased for $22 each, were on hand. * On Jan 15, an additional 5,000 units were purchased for $27 each * On February 28, 4,500 units were sold. * On March 14, an additional 8,000 units were purchased for $32 each. On March 20, a 3% cash discount was earned by paying for the March 14 purchase early. * On March 30, 5,000 units were sold. * On July 30, 3,200 units were sold. * On August 20, an additional 7,000 units were purchased for $33 each. * On September 2, 4,000 units were sold. * On December 1, 2,700 units were sold. * Terry’s management would like to know the effect of any necessary correction on the following ratios: * * Inventor y Turnover (COGS / average total inventory) * Current Ratio * ROA Assignment: * 1. Calculate each of the three (3) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to correct the reported values of item TC178 (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. 4. Calculate the three (3) ratios after you make any adjustments. 5. What do you think the investors’ reaction will be to the adjustment of inventory? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with the restatement? Why or why not? Hints: * 1. Start out by calculating Terry’s COGS on TC178. You might want to do this by setting up a formal COGS equation for TC178. The formal equation for one product would look just like the COGS section of the income statement, but it would only include the values for the one product. In this case, you want to use the numbers currently being reported for TC178 (see above). 2. Use the perpetual inventory method to find out what purchases, purchase discounts, and COGS should be for TC178. Set up a new COGS equation for TC178 using the new information. . Compare the new COGS equation to the old equation. The differences between the two equations are the changes that you need to record. 4. Keep in mind that Terry has a perpetual inventory system. This means the company won’t have a ‘purchase returns’ or a ‘purchase discount’ account. Instead, everything will be done using the inventory account. Your final entry, then, should ch ange only three accounts: COGS, Inventory, and A/P. You can get the changes to COGS and Inventory from the differences in your COGS equations (old vs. new). Use A/P as the plug figure. Terry Part #6: Chapter 10 Goal: * To practice recording an exchange of PPE and to determine the effects of the exchange on the financial statements. (See Topic Guides A 19, 35, 36). Information: * On December 15th, Terry’s management decided to trade in one of their machines for a newer model. After long discussions with their auditors, Terry’s management has decided that the increased capacity of the new machine makes this an exchange without substance. The old machine originally cost $450,000 and had been fully depreciated to its $70,000 salvage value. The new machine sold for $600,000, but the vendor offered Terry a $95,000 trade-in on the old machine if the balance is paid in cash. Terry’s management was excited about the deal, since they would have been able to sell the old machine for only $90,000 if they had tried to dispose of it on the open market. * Although the deal was completed on December 29th, no journal entries have yet been recorded. * Terry’s management would like to know the effect of the exchange on the following ratios: * * Asset Turnover (Net Sales / average total assets) * Current Ratio ROA Assignment: * 1. Calculate each of the three (3) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to account for the trade-in (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. 4. Calculate the three (3) ratios after you make any adjustments. 5. What do you think investors’ reaction will be to the exc hange? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with the exchange? Why or why not? Terry Part #7: Chapter 11 Goal: * To practice accounting for partial-year depreciation, and to determine the effect of switching to partial-year depreciation on the financial statements. (See Topic Guides A 21, 35, 36). Information: * Terry purchased $1,200,000 of new equipment during the year (not including the exchange in Part #6). Most of this equipment was purchased during January; however the last purchase (Machine X7S4) occurred on September 1st for use in the sales department. Machine X7S4 cost the company $300,000. * Originally, Terry recorded depreciation on all of its new equipment for the entire year. Now, however, the CFO is worried that the auditor will insist that they use partial-year depreciation on Machine X7S4. In order to avoid problems with the auditor, he has decided to go ahead and switch to partial-year depreciation now. At the time of the purchase, the sales manager estimated that Machine X7S4 would last six (6) years and would have a $23,000 salvage value. Terry uses the sum-of-the-years digits method of calculating depreciation. * Terry’s management would like to know the effect of the change to partial-year depreciation on the following ratios: * Asset Turnover (Net Sales / average total assets) * Current Ratio * ROA Assignment: * 1. Calculate each of the three (3) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to account for the switch to partial-year depreciation (including any necessary changes to income tax expense) on Machine X7S4 only (the rest of the depreciation has been appropriately recorded). 3. Make any n ecessary changes to the financial statements. 4. Calculate the three (3) ratios after you make any adjustments. 5. What do you think investors’ reaction will be to the decision to use partial-year depreciation? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with the CFO’s decision to use partial-year depreciation instead of full-year depreciation? Why or why not? Hints: 1. The easiest way to do this problem is to make both entries: full-year depreciation and partial-year depreciation. 2. Once you have both entries, determine what you need to debit and credit to adjust your books from the first entry (full-year depreciation) that was actually made to the second entry (partial-year deprecation) that should have been made. 3. Remember, if you change an income statement account, there WILL be a tax effect! Terry Part #8: Chapter 17 Goal: * To practice accounting for changes in the market value of available for sale securities, and making the corrections to the financial statements. (See Topic Guides A 27, 35, 36). Information: * Terry’s Expansion Fund is made up of available for sale (AfS) securities. The securities were purchased on January 1st of last year (Year 1). At the end of year 1, the CFO made the correct entry to account for the change in value, but the changes were reported as part of Retained Earnings in the balance sheet. No adjustment has yet been made for changes in value in the current year (Year 2). The table below gives the information about the securities that are part of the expansion fund. Terry’s upper management has elected to report the combined value of the AfS Investment account and the market adjustment account as the ‘Expansion Fund’ in the balance sheet. Security| Â  | Purchase Price| End Year 1Price| End Year 2 Price| 10,500 of XYZ Inc. | | $5. 00| $7. 00| $7. 50| 8,000 of Sampson’s Inc. | | $5. 25| $6. 75| $8. 00| 2,000 of Friday’s Foods Inc. | | $7. 00| $8. 75| $6. 00| 55,000 of Arborium Inc. | | $9. 00| $11. 00| $9. 0| * Terry’s management would like to know the effects of the changes in value of the following ratios: * Current Ratio * ROA Assignment: * 1. Calculate each of the two (2) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to account for the change in value of the expansion fund securities (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements (see Hint #5 below). 4. Calculate the two (2) ratios after you make any adjustments. 5. What do you think investors’ reaction will be to management’s investment decisions? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be pleased with the portfolio? Why or why not? * * Hints: 1. Make a table showing the total value of the securities at each of the important dates (purchase, end of Year 1, and end of Year 2). 2. Create t-accounts for the Expansion Fund and the Market Adjustment – AfS. What do you need as the ending balance of the Market Adjustment – AfS account for the net amount of the two accounts to equal the ending value of the portfolio? You will need to do this twice (once for year 1 and once for year 2) in order to get all of the numbers you need. 3. The difference between the ending value in the Market Adjustment – AfS account for year 1 and 0 will be the amount of the adjustment that they made last year. The difference between the ending value needed in the Market Adjustment – AfS account at the end of year 2 and the amount already in the account from year 1 will be the adjustment that you need this year. 4. Make the necessary adjustment to the Financial Statements. Keep in mind that the change in value for AfS securities should be recorded in Unrealized Increase/Decrease in AfS Securities, which should be recorded as part of the Other Comprehensive Income line below RE on the Balance Sheet. 5. Since Other Comprehensive Income has not been reported before, you’ll need to add that line to the balance sheet. When you do, you will need to add a balance for year 1, not just report it as a ‘0’ as we’ve done when with other lines added to the balance sheet. You don’t need to make a journal entry for Year 1, because you were told that Terry’s CFO made the correct adjustment. However, Terry’s Year 1 balance sheet reported the Unrealized Increase/Decrease as part of Retained Earnings instead of reporting it in an Other Comprehensive Income line. Since you are now adding an Other Comprehensive Income line to the balance sheet, you’ll want to make sure that you move last year’s Unrealized Increase/Decrease out of Retained Earnings and include it in the new line item (for both years). Terry Part #9: Chapter 13 Goal: * To practice recording contingent liabilities and reporting them in the financial statements. (See Topic Guides LE 2, 6, 16). Information: At the beginning of November, Year 2, Terry issued 500,000, $5 off coupons. The coupons will expire at the end of February, Year 3. During November and December, 40,000 of the coupons were used. Terry’s advertising experts estimate that next year approximately 22,500 coupons will be used in January and another 10,750 in February. * The accounting department has appropriately account ed for the coupons that have already been honored as part of advertising expense. * Terry’s management would like to know the effects of the adjustment on the following ratios: * Current Ratio * ROA Assignment: 1. Calculate each of the two (2) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to account for the coupon liability (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. 4. Calculate the two (2) ratios after you make any adjustments. 5. What do you think investors’ reaction will be to the decision to issue a coupon? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with this advertising strategy? Why or why not? Hint: * 1. In some of the earlier parts of the project, we did not include new balance sheet accounts in the Cash Flow from Operations section of Terry’s Statement of Cash Flows. Each of those cases, however, included a definite cash effect that was reported as a specific line item in the Cash Flow from Investing section (such as the sale of A/R in Part #4). In this case, however, there is no definite cash effect, so any new balance sheet accounts will have to be added to the statement of cash flows. Terry Part #10: Chapter 14 Goal: To practice recording long-term liabilities and reporting them in the financial statements. (See Topic Guides LE 8, 10, 16). Information: * On December 1, Terry issued a $1,500,000, semi-annual, 6 year, 9% bond. The market rate for similar bonds on that day was 8%. Terry uses the effective interest method to record the amortization or premiums and discounts. Terry’s management has decided to report net bonds on the balance sh eet, instead of reporting the bond and its premium or discount separately. No entries have yet been made for the bond. Terry’s management would like to know the effects of the new bond on the following ratios: * Debt to Equity Ratio (Total Liabilities / Total Equity) * Current Ratio * ROA Assignment: * 1. Calculate each of the three (3) ratios before you make any adjustments. 2. Make the appropriate journal entries, if any, to account for the new bond and any accrued interest (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. 4. Calculate the three (3) ratios after you make any adjustments. . What do you think investors’ reaction will be to management’s decision to issue a new bond? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with the decision to issue the new debt? Why or why not? Hints: 1. Start out by making the journal entry to record the issuance of the bond at its present value. 2. Next calculate the interest expense to be reported and any premium or discount to be amortized at the time of the first interest payment. . Multiply your interest expense and amortization numbers for the first payment by the number of months the bond has been outstanding divided by 6 (for the 6 months in each semi-annual payment period). This will give you two of the three line items you need for the interest entry on the bond this year. 4. You will need to add three line items to your Statement of Cash Flows to make it balance after recognizing the issuance of the bond and the accrued interest. One line item is the cash from the bond issue. One of the others is one of the four non-cash (4) accruals that have to be reversed in your Cash Flows from Operations section. Terry Part #11: Chapter 15 Goal: * To practice accounting for the payment of dividends and the purchase of treasury stock. (See Topic Guides LE 20, 23, 26). Information: * Using the money from their recent bond issue, Terry’s management has decided to declare an additional $715,000 dividend (see Part #1 for information on the first dividend of the year). The date of declaration is December 30, Year 2. The date of record will be January 15, Year 3, and the date of payment will be January 30, Year 3. As an additional signal to the market, Terry’s management repurchased 60,000 shares of Terry’s common stock on December 31st for $24 a share. Terry’s management would like to know the effects of the extra dividend and share repurchase on the following ratios: * Current Ratio * ROA Assignment: * 1. Calculate each of the two (2) ratios be fore you make any adjustments. 2. Make the appropriate journal entries, if any, to account for Terry’s extra dividend and stock repurchase (including any necessary changes to income tax expense). 3. Make any necessary changes to the financial statements. . Calculate the two (2) ratios after you make any adjustments. 5. What do you think investors’ reaction will be to management’s decision to issue a second dividend and to repurchase shares? In other words, based on your changes to the financial statements and the change in the ratios, do you think investors will be happy with the decision to pay out so much cash to investors? Why or why not? Hints: * 1. These transactions will affect EPS, but they will not affect Net Income. 2. As you think about investor reactions, keep in mind that stockholders are not the only investors in a firm! ——————————————- [ 1 ]. 1To under stand why we use A/P for the plug figure, we have to go back to what the journal entry would look like for a purchase. We would debit inventory (since this is a perpetual inventory firm) and credit A/P. Mis-recording the inventory effects of sales would cause errors in our inventory and COGS accounts. Mis-recording the inventory effects of purchases would cause errors in our inventory and A/P accounts. So, in order to correct for all of Terry’s mistakes, we need to adjust inventory, COGS, and A/P. How to cite Analyzing Financial Ratios, Essay examples