Budgeting of Capitale Example For Free - Free Essay Example

Sample details Pages: 4 Words: 1278 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Narrative essay Tags: Budget Essay Did you like this example? Capital budgeting can be defined as the process of analyzing, evaluating, and deciding whether resources should be allocated to a project or not. Capital budgeting addresses the issue of where funds should be disbursed over a long period of time. The process of capital budgeting ensures the optimal placement of funds and resources. It also helps management work toward the goal of maximizing shareholder wealth. The method used by most large companies to evaluate investment projects is called the net present value (NPV). It is a standard method for the monetary worth of long-term projects. It measures the surplus or deficit of cash flows, in present value (PV) terms, once financing charges are met. The NPV is used for budgeting and is widely used throughout economics. The way NPV works is simple. When firms make investments, they are spending money they have obtained from investors. Investors expect a return on the money that they give to firms, so a firm should accept an investment only if the present value of the cash flow is greater than the cost of making the investment. However, decision-makers must somehow verify that any decisions made based on the NPV can be flexible. This flexibility is in place in the event that factors affecting the decision later change. NPV compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account. Â   If the NPV of a prospective project is positive, it should be accepted. Â   However, if the NPV is negative, the project should probably be rejected because cash flows will also be negative. Internal rate of return (IRR) is the expected rate of return that can be earned on a capital project. The IRR is a calculated interest rate based on the cash flows of a project or investment. The calculation estimates what the future rate of return is but translates it into present cash value. IRR is typically a calculation for businesses to use in dete rmining the NPV of its money when considering income and initial costs for starting a business. IRR is typically an estimate and will often differ from the actual execution of a project. Â   However, stronger growth would still be expected from a project with a greater IRR. Like the NPV calculation, the IRR evaluation also determines if a company should accept or reject a project proposal. A project should be accepted when the IRR is greater than the rate of return and should be rejected if the IRR is less than the rate of return. When evaluating mutually exclusive project, the projects with the greatest IRR should be accepted .The project with the greatest IRR would be assumed to provide the most cash flow growth. An IRR calculation for a project can also be compared against prevailing rates of return for alternate investments such as an investment in the securities market. Â   If a company cannot generate project alternatives with IRRs greater than the returns that can be gen erated from alternate investments, it may invest its retained earnings in the market or alternative investments to internal projects. Many advantages accompany the use of IRR. One would be that it is considered to be straight forward and easy to understand. It also recognizes the time value of money. IRR also uses cash flows. One disadvantage of internal rate of return is it often gives unrealistic rates of return and unless the calculated IRR gives a reasonable rate of reinvestment of future cash flows, it should not be used as a reason to accept or reject a project. Another disadvantage to the use of IRR is that there may not be one singular rate. Depending on the cash flow structure, if there are different cash flow signs in different years (positive and negative), then the math will not add up. In essence it entails more problems than a practitioner may think. Another disadvantage is that the IRR could be quite misleading if there is no large initial cash outflow. The prof itability index for a project proposal is compared to the present value of future inflows with the initial outflow, in ratio terms. To calculate the profitability index take the present value of all future cash flows and divide that by the initial cash investment. Calculating the profitability index only requires the initial investment figure and the present value of cash flows figures. The decision to undertake or reject a project relies on whether the profitability index is greater than or less than 1. Any profitability index value less than 1 would mean that the projects present value is less than the initial investment and the relationship between costs and benefits is not positive. A project should be accepted when the PI is greater than 1 and should be rejected if the PI is less than 1. When evaluating a mutually exclusive project the project with the greatest PI should be accepted as the project with the greatest PI would be assumed to provide the greatest financial benefit. The profitability index is easily understood by people with minimal background knowledge in finance-because it uses a simple formula of division. A major disadvantage of the profitability index is that it may lead to incorrect decisions when comparing mutually exclusive projects. These are a set of projects for which at most one will be accepted the most profitable one. Decisions made from the profitability index do not show which of the mutually exclusive projects has a shorter return duration. This leads to choosing a project with longer a return duration. The profitability index requires an investor to estimate the cost of capital in order to calculate it. Estimates may be biased and therefore inaccurate. Because there is no systematic procedure for determining cost of capital of a project this may lead to inconsistent decision making when the assumptions do not hold in the future. The payback period is the time it takes to recover the initial investment in a project while it is operating. The payback period is used to assess projects and to calculate the return per year from the beginning of the project until the investment is said to have been paid back. That is usually when the accumulated returns are equal to the cost of the investment. The payback method is computed as follows: Payback Period= Initial Investment Cash Inflow per Period. The payback decision rule states that acceptable projects must have less than some maximum payback period designated by management. Payback is said to emphasize the managements concern with liquidity and the need to minimize risk through a rapid recovery of the initial investment. It is often used for small expenditures that have obvious benefits, and projects which the use of more sophisticated capital budgeting methods is not required or justified. Some advantages of the payback period are that it is widely used and easily understood and it favors capital projects that return large early cash flows. There are als o safe-guards against risk and uncertainty in this area. The payback method also allows a financial manager to deal with the risk by investigating how long it will take to get back the initial investment, although it does not treat risk directly. It addresses capital control issues easily. The payback method remains a major supplementary tool prevalent in the investment process. Along with advantages, there are also disadvantages associated with the payback method. One disadvantage is that it ignores any benefits that occur after the payback period, thus it does not measure total revenue. Another disadvantage of the payback period is its disregard of moneys varying value. Inflation and deflation change the value of money over time. The payback method over-emphasizes short run profitability. Don’t waste time! Our writers will create an original "Budgeting of Capitale Example For Free" essay for you Create order

Grammar Teaching Approaches And Teaching - 830 Words

1. Introduction The essay will discuss some current grammar teaching approaches and then the essay will observe the lesson â€Å"He’s been to Turkey† and evaluate which kind of grammar approach is applied. Additionally, some improvements or recommendations will be given. Finally, a comparison and discussion will be given. 2. Grammar teaching approaches According to Nunan (2000, p.144), first languages can have very essential influence on second language learning, the rules of first languages may directly and deeply lead learners to make mistakes when they are using the second language because of the difference between two kinds of language systems and the key of the gap is the grammar. Thus, a learner has to master the grammar of a second language if he wants to use this second language correctly and it can be seen that grammar plays a crucial part in second language acquisition. Richard (1985, p.144) argues that grammar teaching has a central role in the second language acquisition. Thus, grammar teaching can effectively help learners to acquire grammatical competence, which can be underlying and basic for learners to understand and produce a language. 2.1 TBL and the inductive approach Note that the TBL commonly consists of three stages, including: a. Pre-task phase. Ellis (2003, p.244) argues that the major goal of the â€Å"pre-task† phase is to provide students with adequate time to think and predict the task materials. Willis and Willis (2007) states that they do not advocateShow MoreRelatedThe Exploration Of Grammar Teaching Approaches On Efl Classroom1501 Words   |  7 PagesThe exploration of grammar teaching approaches on EFL Classroom 1. Introduction Grammar learning is a study about words and the ways words work together is, it is the ruled-governed behavior that forces language users put words together into sentences. No one can use the language without fellow its principles. 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An approach refers to theories of the language, whereas a method includes the techniques and procedures in how it is used (Harmer, n.d.). Language teaching and its approaches have a very long history emerging from the early twentieth century. Throughout this time applied linguistics, teachers and others, thrived to develop teaching methods in order to meet the characteristics of change and improve efficiency. The

Islam As A Religion And Saudis - 1577 Words

As a Saudi Muslim, the two social identities I want to talk about are Islam as a religion and Saudis. Religion is an organized set of beliefs, cultural systems and worldviews relating humanity to an order of existence. Religion contains various laws and prohibitions that guide people in every-day life. Muslims who share the same religion see themselves having a communicative relationship with one another. Interpersonal communication and social relationships are two-way processes of exchanging ideas and sharing concerns in a Muslim environment. Saudis are the people of Saudi Arabia. The latter is an Arab country in Western Asia, bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar, Bahrain and the United Arab Emirates to†¦show more content†¦Men often wear Qamis when they want to go to the mosque. In terms of symbols, Islam prohibits to wear symbols, however, it does not prohibit having religious symbols at home, such as framed Suras (Verses) from the Quran (Islam’s holy book) hanged against the wall. Most of the practicing Muslims have framed Suras at their home. Nevertheless, Muslims do not hang pictures of their prophet (Muhammad) on their walls because it is seen as prohibited in their religion. In fact, any personification of any prophet is seen as prohibited. Muslims are good at interior architecture, as it seen as beautiful and glorious. Muslims are known for the unique and artistic style in interior design, which is influenced by the Gold Age of Islam when they were in Andalusia. Most of the Muslim interior design is inspired from the Arabic calligraphy and the Quran. In terms of sound, Islam has specific codes of behavior on the manner Muslims should speak and even sound. Though only a few Muslims in Saudi Arabia speak slowly, Islam advocates to speak slowly and softly, as it is a better and a likable way to communicate. Muslim Imams in Friday prayers’ encourage the sender not to scream while transmitting a message so that the receiver understands the message clearly and reply the same way. However, this aspect is not applied everywhere. The Muslim attitude is an abstract value in Islam. Muslims are usually compassionate about their religion and their prophet. Almost every aspect of life

Ethical Dilemmas Of The Medical Settings - 1201 Words

In current medical settings, complex ethical dilemmas do arise as a result of advancing treatment techniques and increasingly diverse patient value systems (Ito Natsume, 2016). Going through the case, it is clear that there is an ethical dilemma and it can be seen from different perspectives. The dilemma is whether or not the 6-year-old child should be provided treatment by the physician in the hospital, without the consent of the child’s mother. The physician who diagnosed the child with meningitis is in a dilemma. The professional ethics in medicine require that physicians should undertake the diagnosis and treatment of their patient, however, they should not administer treatment without the consent of their patient. In this case, since the patient is a minor child, the consent must be sought from the parents. The child’s mother is a Christian scientist and not the child’s biological parent. On religious grounds, she insists that the child should not be provid ed with any medical treatment. Upon asking for permission, the biological father consents to the administration of treatment and seeks independent consultation from another physician. He is ethically right in asking for the treatment of his child, without which he would be deprived of his right to ensure the health of his child. At the same time, the school also has an implied ethical duty to ensure that the child who has been diagnosed with meningitis receives proper treatment. In this situation, to ensure theShow MoreRelatedIdentifying The Ethical Dilemma Of The Medical Settings1211 Words   |  5 PagesIdentifying the Ethical Dilemma In current medical settings, complex ethical dilemmas do arise as a result of advancing treatment techniques and increasingly diverse patient value systems† (Ito Natsume, 2016). 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But as nurses, we follow professional guidelines which help us in deciding which action is morally right and to ensure that the patientsRead MoreThe Ethical Dilemma Of Nurses Face Ethical Dilemmas843 Words   |  4 Pagesclinical setting, nurses face ethical dilemmas everyday. There is no perfect answer to ethical dilemmas in clinical area. It is important to identify ethics related situation, work as a team to address these problems and provide support for patie nt and families. Dealing with dilemmas is not just a nursing issue. But the role and function of nurses could affect whole team member and their patients too. In the given scenario, two different views of parents for the sick child create dilemmas. MotherRead MoreApplying Ethical Framework in Practice Essay1161 Words   |  5 PagesThe ethical principle of confidentiality demands nondisclosure of private or secret information about another person with which one is entrusted. In hospital settings, nurses have the responsibility to maintain patient’s private information confidential and sharing only those information that are necessary to provide patient care. According to the ICN Code of Ethics for Nurses (2006), â€Å"The nurse holds in confidence personal information and uses judgment in sharing this information.† MaintainingRead MoreApache V. Apache IIi System : Acute Physiology And Chronic Health Evaluation And The First System887 Words   |  4 Pagescompares each individual s medical profile against nearly 18,000 cases in its memory before reaching a prognosis that is, on average, 95 percent accurate (Open Clinical website, 2005). This system can be used in the Intensive Care Unit setting and it can predict the patient’s risk of dying in the Intensive Care Unit. 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St Francis Of Assisi Introduction Essay Free Example For Students

St Francis Of Assisi Introduction Essay Free Francis of Assisi lived about eight hundred years ago. He was born in the city of Assisi, Italy, in 1182. He was the son of Piero of Bernadone, who was a wealthy merchant. He received a education and seemed to follow his fathers footsteps as a wealthy merchant. In 1201 he took part in an attack on Perugia, was taken hostage, and remained a captive there for a year. After his release, Francis joined the army but couldnt complete his time because he got sick. This period of time would change his life forever. During his sickness, Francis would spend hours meditating on the Lord in an old church, and he felt God drawing near to him. Some people come to Jesus with a memorable experience, but others come to Christ through a process. Francis conversion wasnt an overnight experience, but it was definitely real. Francis was famous for his love of all creation. He called for simplicity of life, poverty, and humility before God. He worked to care for the poor. Thousands were drawn to his since rity, piety, and joy. In all his actions, Francis sought to follow fully and literally the way of life demonstrated by Christ in the Gospels. He died in 1226, at the age of 44. Dorothy Day, founder of the Catholic Worker movement, was born in Brooklyn, New York, November 8, 1897. After surviving the San Francisco earthquake in 1906, the Day family moved into a house in Chicago. It was a big step down in the world because John Day was out of work. Days understanding of the shame people feel when they fail in their efforts dated from this time. Day lived long enough to see her achievements honored. In 1967, when she made her last visit to Rome to take part in the Congress of the Laity, she found she was one of two Americans invited to receive Communion from the hands of Pope Paul VI. On her 75th birthday the Jesuit magazine America devoted a special issue to her, finding her an individual who best explained the lifes and aspects of Jesus. Notre Dame University presented her with a special Medal, thanking her for contributions to everything.

Applications of Uniform Circular Motion free essay sample

In 1851, a French physicist named Jean-Bernard-Leon Foucault suspended an iron ball with a radius of approximately 0. 5 feet from the ceiling of the Pantheon in Paris with a wire that was over 200 feet long. The ball was used as a pendulum, and it could swing more than 12 feet back and forth. Beneath the ball he placed a circular ring with sand on top of it. Attached to the bottom of the ball was a pin, which scraped away the sand in its path each time the ball went by. To get the ball started on a perfect plane, the ball was held to the side by a cord until it was motionless. At that point, the cord was burned, which started the ball swinging. As the ball continued to swing as a pendulum, the path the pin carved into the sand changed, as the floor itself, as well as the rest of the Earth, was moving beneath it. We will write a custom essay sample on Applications of Uniform Circular Motion or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Essentially, the Foucault pendulum demonstrates the rotation of the Earth. The Foucault pendulum is not forced to stay in a fixed plane like Newton’s pendulum, also known as Newton’s cradle, which means it can move freely in response to the Coriolis force. The Coriolis force, also known as the Coriolis effect, occurs when masses above the Earth’s surface, such as a bullet or rocket, appear to be deflected from their trajectory, meaning they don’t reach their intended location straight ahead of them. In fact it is our frame of reference, the Earth, which is changing. Our frame of reference changes due to our uniform circular motion around the Earth. As the Earth is not a perfect circle (elliptical), the closer to the equator you are, the further away you are from the Earth’s centre and the less force of gravity you experience. The Earth’s radius is 6378 km. As a result of your increased distance from the centre of the Earth at the maximum point at the Earth’s radius on the equator, you have a lower centripetal force at that location. This is shown by the formula for centripetal acceleration, which is: pic] Where centripetal acceleration (m/s2) is equal to the velocity (m/s) squared divided by the radius (m). As the formula shows, as the radius between you and the centre of the Earth increases, your centripetal acceleration decreases. At the equator, your centripetal acceleration is around 0. 03 m/s2 . Therefore, Foucault’s pendulum in Paris has a higher centripetal acceleration than 0. 03 m/s2, as it is located closer to the poles than the equator.