The Strain On Taxpayer s Money Essay - 1429 Words

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Financial Analysis of Oil Marketing Companies Free Essays

string(22) " OF FIGURES Figure 4\." ?ANALYSIS OF OIL AND GAS MARKETING SECTOR- AN OVERVEW OF ITS GROWTH OVER THE LAST FIVE YEARS (2001 – 2005) AUTHOR: Akhlaq Ahmad Enroll No. 111031-004 Cell no: 03215008455 BBA-6 (Morning) SUPERVISOR: Mr. Musbashir Sadiq Bahria Institute of Management Computer Sciences, Bahria University Shangrila Road, Sector E-8, Islamabad ABSTRACT Pakistan’s economy is undergoing significant structural changes since 1999-2000. We will write a custom essay sample on Financial Analysis of Oil Marketing Companies or any similar topic only for you Order Now The real GDP growth is accelerating over the last five years. Over the next five years, 7-8 percent growth is targeted to be sustained, which will demand a huge rise in the energy use. The energy sector in Pakistan comprises of oil, natural gas, power (hydro and nuclear) and coal. The oil and gas sector has a lot of potential in Pakistan. Pakistan is classified as low priority by foreign investors because of the unstable economic and political situation. However, efforts are being made by the Government to promote investment in the oil and gas sector, by various incentives such as liberal granting of exploration licenses, restructuring and reform of the oil and gas sectors, deregulation of prices, and privatization of selected assets. The reform has enhanced transparency, making decision makers aware of the various The objective of this thesis is to analyze whether the Oil and Gas sector in Pakistan has really progressed and whether there are better opportunities for investment and growth in this sector now than there were in the past. For the purpose of determining the trend of growth in the Oil and Gas Sector, four Oil and Gas Marketing Companies (OGMC) were selected and their financial data analyzed over a period of five years (2001 – 2005). Financial data relevant to the sample companies was gathered from published accounts of the companies, in their annual reports. This data was condensed and summed up for the four companies and presented in tables and then used for analysis. The results were held to be representative of the entire Oil Marketing Sector and seem to show a marked trend of growth in the financial indicators reveal that there has been a marked improvement in the growth of this industry. ACKNOWLEDGMENT First of all I am very much thankful to ALLAH ALMIGHTY, who gave me strength power to complete this task efficiently effectively. I am also very much thankful to my parents who gave me the basic knowledge of how to read write, who also prayed for me every time, especially in the hour of need trouble. Thanks to my most prestigious Supervisor Mr. Mubashir Sadik for providing me guidelines for each every aspect. Thanks to Mr. Abdul Ahad Maud and Mr. Faisal Subhan who were very cooperative and considerate during the whole period of data collection. I am also very grateful to all those who helped me gave me up-to-date information or any other information regarding this analysis while completing this task. Thank you in anticipation. DADICATION TO MY LOVING PARENTS TABLE OF CONTENTS ABSTRACTi ACKNOWLEDGMENTiii DADICATIONiv TABLE OF CONTENTSv LIST OF TABLESvi LIST OF FIGURESix CHAPTER 11 INTRODUCTION1 Broad Problem Area/Background1 Rationale5 Problem Statement6 Objectives of the study7 Research Questions8 Limitations9 CHAPTER 210 LITERATURE REVIEW10 CHAPTER 315 METHOD15 Procedure17 CHAPTER 421 RESULTS AND DISCUSSION21 CHAPTER 566 CONCLUSION AND RECOMMENDATION66 Conclusion66 Recommendations 68 GLOSSARY 69 REFERENCES73 LIST OF TABLES Table 4. 1: Pakistan State Oil Company Limited Balance Sheets (2001-2005)21 Table 4. : Pakistan State Oil Company Limited Income Statements (2001-2005)22 Table 4. 3: Pakistan State Oil Company Limited Vertical Common Size of Balance Sheets (2001-2005)23 Table 4. 4: Pakistan State Oil Company Limited Vertical Common Size of Income statement (2001-2005)24 Table 4. 5: Pakistan State Oil Company Limited Horizontal Common Size of Balance Sheets (2001-2005)25 Table 4. 6: Pakistan State Oil Co mpany Limited Horizontal Common Size of Income statement (2001-2005)27 Table 4. 7: Shell Pakistan Limited Balance Sheets (2001-2005)28 Table 4. : Shell Pakistan Limited Income Statements (2001-2005)29 Table 4. 9: Shell Pakistan Limited Vertical Common Size of Balance Sheets (2001-2005)30 Table 4. 10: Shell Pakistan Limited Vertical Common Size of Income Statements (2001-2005)31 Table 4. 11: Shell Pakistan Limited Horizontal Common Size of Balance Sheets (2001-2005)32 Table 4. 12: Shell Pakistan Limited Horizontal Common Size of Income Statements (2001-2005)34 Table 4. 13: Sui Northern Gas Pipelines Limited Balance Sheets (2001-2005)35 Table 4. 14: Sui Northern Gas Pipelines Limited Income Statements (2001-2005)36 Table 4. 5: Sui Northern Gas Pipelines Limited Vertical Common Size of Balance Sheets (2001-2005)37 Table 4. 16: Sui Northern Gas Pipelines Limited Vertical Common Size of Income Statements (2001-2005)38 Table 4. 17: Sui Northern Gas Pipelines Limited Horizontal Common Size of Balance Sheets (2001-2005)39 Table 4. 18: Sui Northern Gas Pipelines Limited Horizontal Common Size of Income Statements (2001-2005)40 Table 4. 19: Sui Southern Gas Company Balance Sheets (2001-2005)41 Table 4. 20: Sui Southern Gas Company Income Statements (2001-2005)42 Table 4. 1: Sui Southern Gas Company Vertical Common Size of Balance Sheets (2001-2005)43 Table 4. 22: Sui Southern Gas Company Vertical Common Size of Income Statements (2001-2005)44 Table 4. 23: Sui Southern Gas Company Horizontal Common Size of Balance Sheets (2001-2005)45 Table 4. 24: Sui Southern Gas Company Horizontal Common Size of Income Statements (2001-2005)46 Table 4. 25: Oil and Gas Marketing Sector Consolidated Balance Sheets (PSO, Shell, SNGPL, SSGC) (2001-2005)47 Table 4. 26: Oil and Gas Marketing Sector Consolidated Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)48 Table 4. 7: Oil and Gas Marketing Sector Vertical Common Size of Balance Sheet (PSO, Shell, SNGPL, SSGC) (2001-2005)49 Table 4 . 28: Oil and Gas Marketing Sector Vertical Common Size of Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)51 Table 4. 29: Oil and Gas Marketing Sector Horizontal Common Size of Consolidated Balance Sheet (PSO, Shell, SNGPL, SSGC) (2001-2005)52 Table 4. 30: Oil and Gas Marketing Sector Horizontal Common Size of Consolidated Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)53 Table 4. 31: Important figures to be used in the calculating the ratios54 Table 4. 2: Ratios for measuring the Liquidity of the sector 55 Table 4. 33: Ratios for measuring the Long Term Debt Paying Ability57 Table 4. 34: Ratios for measuring the profitability of the sector59 Table 4. 35: Ratios of the measurement of the market value of the sector63 LIST OF FIGURES Figure 4. You read "Financial Analysis of Oil Marketing Companies" in category "Marketing" 1: Ratios for measuring the Long Term Debt Paying Ability55 Figure 4. 2: Ratios for measuring the Long Term Debt Paying Ability57 Figure 4. 3: Ratios for measuring the Long Term Debt Paying Ability59 Figure 4. 4: Ratios for measuring the Long Term Debt Paying Ability61 Figure 4. : Ratios for measuring the Long Term Debt Paying Ability63 Figure 4. 6: Graphs to specify the growth of the oil gas marketing companies65 CHAPTER 1 INTRODUCTION Broad Problem Area/Background It is universally recognized that energy is one of the most important inputs for economic growth and national development. The consumption of energy is one of the critical indicators of the level of development of any country. Developed countries use more energy per unit of economic output and far more energy per capita than developing countries. Economic growth is the key to this situation and for economic growth we need energy. Pakistan’s economy is undergoing significant structural changes since 1999-2000. The real GDP growth is accelerating over the last five years. Over the next five years, 7-8 percent growth is targeted to be sustained, which will demand a huge rise in the energy use. The energy sector in Pakistan comprises of oil, natural gas, power (hydro and nuclear) and coal. The total primary energy supplies measured in terms of oil equivalent (toe) stood at 50. million tonnes in 2003-04. Oil and gas account for almost 80% of the energy sector of Pakistan with oil and gas being 29. 9 percent and 49. 7 percent respectively. In order to measure the growth of the energy sector the best proxy might be to evaluate the performance of the oil marketing companies. As these are the companies which are not only selling the oil based products which meet the major needs of the energy in Pakistan but also these companies are dealing in the recently made popular Compressed Natural Gas. As this Oil and Gas sector represents more than 80% of the energy consumed in Pakistan so the companies which are dealing with the marketing of these fuels need to be assessed for their financial performance and results in the past few years. If these companies are showing growth we might assume that the energy sector is growing and the economy is on the right path. The first gas field was discovered in at Sui in 1952 and provides the basis for Pakistan’s extensive gas network. Pakistan imports crude oil (it only produces 17% to 20% of what it needs), however is self sufficient in natural gas. Of the companies that are being researched in the present study, Pakistan State Oil Company Limited (PSOCL) and Shell Pakistan are the main planks in the oil industry. Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC), distributes major portion of the natural gas. Pakistan declared 1997-98 an â€Å"Oil and Gas Year†. As a result of offering incentives to potential investors, including foreign companies, some $2. 5 billion of investment was attracted. Oil and Gas Consumption Figures? Oil Consumption (In tones): 1999-00 2000-01 2001-02 2002-03 2003-04 17,768,000 17,648,000 16,950,000 6,542,000 13,421,000 Gas Consumption 2003 ( In mmcft): 1999-00 2000-01 2001-02 2002-03 2003-04 712,001 768,068 872,604 872,264 1,051,418 Consumption of oil and gas has been fairly steady throughout the 1990s with the gas consumption increasing at a rate of 4. 9 percent while the oil consumption increasing at a slightly reduced rate of 2. 5 percent. Until 1999, the govern ment tightly controlled the oil and gas industries of Pakistan. No decision could be made without referring to the higher authorities, and when decisions were made, they were often based on political as opposed to economic considerations. Since early 2000, an ambitious pro-market reform program is being implemented, and gradually, the straightjacket under which the industry used to operate is being dismantled. As a result, the sector has changed dramatically over the last five years, and Pakistan now leads South Asia in sector reform (Economic Survey of Pakistan, 2004-05). The government actions have focused on promoting private investments in the upstream, deregulating most of the market for petroleum products, establishing a regulatory agency for the gas sector, and introducing market-related price caps for petroleum products. The government’s long term goal is to create a competitive, efficiently-run, financially smooth, and a largely privatized oil and gas sector providing supplies to a large share of population. It is important to note that a structural shift is taking place since 2000-01. The last five years have seen a positive trend towards greater gas consumption and a negative trend in the petroleum products consumption. Substantial progress has been made in the restructuring and reform of the oil and gas sectors, deregulation of prices, and privatization of selected assets. The reform has enhanced transparency, making decision makers aware of the various aspects of the business. Rationale Oil and Gas is an important sector in Pakistan economy and it largely affects the GDP of Pakistan, therefore there is a great emphasis on exploration and marketing. The consumption of Oil was 16. 45 million tonnes in 2002-3 and consumption of gas was 872,264 million cubic feet. The acceleration in growth of energy consumption is not surprising when seen against a 15. 4 percent growth in large scale manufacturing and an 8. 5 percent growth in real GDP. Higher consumption of energy simply reflects the rising of economic activity in a country. Oil and natural gas are an integral part of the everyday life. Not only do they make the economy move, they heat and cool our homes and provide electricity. A large number of products are made from oil and gas, including plastics, life-saving medications, art silk, cosmetics, and many other items you may use daily. Even from Strateg ic point and defense view point Pakistan is dependent on oil and gas. Problem Statement Oil and gas sector of Pakistan has changed dramatically over the last five years and Pakistan now leads South Asia in sector reform. The endeavors made to increase the oil and gas supplies need to be analyzed and companies encouraged. With this premise in mind four, Oil and Gas marketing companies have been selected to analyze their financial performance that would also indicate their success. Objectives of the study The objective of research study is to analyze the growth and development of the Oil and Gas Marketing Sector in Pakistan. Currently according to the Board of Investment of Pakistan there are 26 (local and international) companies operating in upstream, 7 downstream companies, and 4 refineries. The focus of this analysis is on the progress of downstream companies that are based in Pakistan. Four leading downstream companies have been selected and their financial performance studied for a period of five years from 2001 to 2005 to see whether these companies are financially stronger and what their rate of growth is and to determine reasons behind the growth. Research Questions 1. What is the importance of Oil and Gas sector in Pakistan economy? 2. What is the growth scenario of Oil and Gas Marketing companies in Pakistan? 3. What is the financial performance of the selected Oil and Gas marketing companies during the research period (2001-2005)? 4. What conclusions can be drawn about the industry based on the financial performance of the selected companies? Limitations Limitations: This research study has certain limitations that are not easy for the researcher to overcome at this level. The general level of inflation has not been adjusted for. Overall prices of oil have increased due to unavoidable natural phenomenon like war in Iraq and Hurricane Katrina. The profitability of the oil marketing companies could be due to increase in prices of petroleum and it may not be the true measure of their financial performance. Some secondary data was not easily available and was very difficult to obtain. As the research work was given to the researcher during the semester so the time constraint played its role. Despite time constraint, the researcher has conducted a comprehensive research. The limited experience in the research field is also a matter of consideration. This is the first study that goes to researcher’s credit. Hence, the researcher does not possess any experience in the field. CHAPTER 2 LITERATURE REVIEW The firm itself and outside providers of capital- creditors and investors –all undertake financial statement analysis. The type of analysis varies according to the specific interests of the party involved. Trade creditors (suppliers’ owed money for goods and services) are primarily interested in the liquidity of a firm. Their claims are short term, and the ability to pay these claims quickly is best judged by an analysis of firm’s liquidity. The claims of bond bondholders, on the other hand are long-term. Accordingly, bondholders are more interested in the cash flow ability of the firm to service debt over a long period of time. They may evaluate this ability by analyzing the capital structure of the firm, the major sources and uses and uses of funds, the firm’s profitability over time, and projections of future profitability over time, and projections of future profitability. The purpose of financial statement analysis is to examine past and current financial data so that a company’s performance and financial position can be evaluated and future risks and potential can be estimated. Financial statement analysis can yield valuable information about trends and relationships, the quality of a company’s earnings, and the strengths and weaknesses of its financial position (Woelfel, 1989). Investors in a company’s common stock are principally concerned with present and expected future earnings as well as with the stability of these earnings about a trend line. As a result, investors usually focus on analyzing profitability. They would also be concerned with the firm’s financial condition insofar as it affects the ability of the firm to pay dividends and avoid bankruptcy. Internally, management also employs financial analysis for the purpose of internal control and to better provide what capital suppliers seek in financial condition and performance from the firm. From an internal control stand point, management needs to undertake financial analysis in order to plan and control effectively. To plan for the future, the financial manager must assess the firm’s present financial position and evaluates opportunities in relation to this current position. With respect to internal control, the financial manager is particularly concerned with the return on investment provided by various assets of the company and in the efficiency of asset management. Finally, to bargain effectively for outside funds, the financial manager needs to be attuned to all aspects of financial analysis that outside suppliers of capital use in evaluating the firm (Horne Wachowicz, 2001). Financial analysis of a company should include an examination of the financial statements of the company, including notes to the financial statements, and the auditor’s report. The auditor’s report will state whether the financial statements have been audited in accordance with generally accepted auditing standards. The report also indicates whether the statements fairly present the company’s financial position, results of operations, and changes in financial position in accordance with generally accepted accounting principles. Notes to the financial statements are often more meaningful than the data found within the body of the statements. The notes explain the accounting policies of the company and usually provide detailed explanations of how those policies were applied along with supporting details. Analysts often compare the financial statements of one company with other companies in the same industry and with the industry in which the company operates as well as with prior year statements of the company being analyzed (Foster, 1999). Comparative financial statements provide analysts with significant information about trends and relationships over two or more years. Comparative statements are more significant for evaluating a company than are single-year statements. The analysis of financial data employs various techniques to emphasize the comparative and relative importance of the data presented and to evaluate the position of the firm. These techniques include ratio analysis, common size analysis, study of difference in components of financial statements among industries, review of descriptive material, and comparisons of result with other types of data. The information derived from these types of analyses should be blended to determine overall position. No one type of analysis supports overall findings or serves all types of users. Financial statement analysis is a judgmental process. One of the primary objectives is identification of major changes (turning points) in trends, amounts and relationships and investigation of the reasons underlying those changes. Often, a turning point may signal an early warning of a significant shift in the future success or failure of the business. The judgment process can be improved by experience and by the use of analytical tools. The components of financial statements, specially the balance sheet and the income statements, will vary by type of industry (Gibson, 1998). Economies — all economies — run on energy. Energy is needed to produce food and manufacture goods, power machines and appliances, transport raw materials and finished products, and provide heat and light. The more energy available to a society, the better its prospects for sustained growth; when energy supplies dwindle, economies grind to a halt and the affected populations suffer (Klare, 2005). Since World War II, economic growth around the world has been fueled largely by abundant supplies of hydrocarbons — that is, by petroleum and natural gas. Since 1950, worldwide oil consumption has grown eightfold, from approximately 10 to 80 million barrels per day; gas consumption, which began from a smaller base, has grown even more dramatically. Oil and gas will account for 65% of world energy in 2025, a larger share than at present; and because no other source of energy is currently available to replace them, the future health of the global economy rests on our ability to produce and consume more and more of these hydrocarbons (U. S Department of Energy, 2004). Petroleum refers to crude oil and natural gas or simply oil and gas, found in petroleum reservoirs generally thousands of feet below the surface. Exploratory wells are drilled to discover petroleum wells, while development wells are drilled to produce a portion of previously discovered oil and gas. Estimated volumes of recoverable gas within the reservoir are called oil and gas reserves (Brock, Jennings Feiten, 1990). The oil and gas sector or the petroleum industry has the following four major segments: 1. Exploration and Production r EP where oil and gas companies explore for underground reservoirs, and produce the discovered oil and gas using drilled wells. This thesis focuses on this sector of the oil and gas industry. 2. Hydrocarbon processing which includes oil refineries and gas processing plants. 3. Transport, Distribution and Storage by which petroleum is moved from the producing well areas to crude oil refineries and gas processing plants. Oil is moved by pipeline, truck, barge or tanker and Natural gas is moved by pipeline. 4. Retail/Marketing which ultimately markets in various ways the refined products. CHAPTER 3 METHOD Sample For the sample selection of four marketing companies, out of the population of 7 companies listed in the KSE, the criteria used were: 1. Share Capital of the company 2. Sales Revenue 3. Distribution data of the companies Based on these criteria the four companies selected that are operating in Pakistan were the following: Pakistan State Oil Company Limited (PSOCL) Pakistan State Oil Company Limited (PSOCL) is the market leader in Pakistan having 73% of the share of Black Oil Market and around 59% of the share of White Oil market. It is engaged in the import, storage, distribution and marketing of various petroleum products including Fuel oil, HSD, Jet Oil, petro-chemicals, LPG and CNG. Shell Pakistan Limited (SPL) The Shell brand name enjoys a 100-year history in this part of the world, dating back to 1899. Shell Pakistan has been taking a keen interest in expanding recently which shows the confidence in the economic growth and progress in the oil and gas sector. Shell is at present controlling approximately 30% share of the white oil products presently and during the last financial year the Capital Expenditure amounted to Rs 1. billion. Sui Northern Gas Pipelines Limited (SNGPL) Sui Northern Gas Pipelines Limited (SNGPL, is the largest integrated gas company serving more than 2 million consumers in North Central Pakistan through an extensive network in Punjab and NWFP. The Company has over 41 years of experience in operation and maintenance of high-pressure gas transmission and distribution systems. It has a lso expanded its activities to undertake the planning, designing and construction of pipelines, both for itself and other organizations. SNGPL operates in that region of the nation which has a rapidly growing demand for natural gas and power generation due to significant industrial development. Sui Southern Gas Company (SSGC) Sui Southern Gas Company (SSGC) is Pakistan’s leading integrated gas Company. The company is engaged in the business of transmission and distribution of natural gas besides construction of high pressure transmission and low pressure distribution systems SSGCL transmission system extends from Sui in Balochistan to Karachi in Sindh comprising over 2780 KM of high pressure pipeline ranging from 12 – 24†³ in diameter. The distribution activities covering over 650 towns in the Sindh and Balochistan are organized through its regional offices. An average of about 234,553 million cubic feet (MMCFD) gas was sold in 2001-2002 to over 1. 7 million industrial, commercial and domestic consumers in these regions through a distribution network of over 22,890 Km. Type of Study This study aims to analyze the financial statements of oil and gas marketing companies and then generalize the result for the whole industry. Thus due to the purpose of the study it is classifies as descriptive study. Procedure Base Year and Period of Analysis For the analysis, 2001 has been taken as the base year, and the performance in the next five years has been compared with the base year. Analysis Methods The analysis of financial data uses various methods to evaluate the relative importance of the data that was presented in financial statements of a firm. The methods used in the analysis of the marketing sector of Pakistan are a blend of Ratio analysis Common size analysis Ratio Analysis The following ratios were used on the composite data of five years: 1. Liquidity Ratios related to the liquidity of short term assets and short term debt paying ability were Working Capital Current Ratio Sales to Working Capital 2. Profitability Ratios measure the ability of a firm to generate earnings. The ratios used were: Total Asset Turnover Operating Income Margin Return on Total Equity Return on Investment Gross Profit Margin Net Profit Margin 3. Debt Ratios that measure the long term debt paying ability of the firm used were: Debt Ratio Debt to Equity Ratio Fixed charge coverage 4. Market Value Ratios that measure the return that is being given to the stockholders were: Earning per share Dividend per share Dividend Payout These financial ratios were calculated for each of the years from 2001 to 2005 and then plotted to see the general trend. They were then studied to identify various turning points in the trends, and to see the underlying reasons behind the changes in trends that were occurring. Common Size Analysis A common size analysis expresses comparisons in percentages. For the financial data there was -Horizontal and vertical analysis of the following balance sheet items, using 2001 as a base year (horizontal) and total assets as base (vertical): Fixed asset Capital work in progress Long term investments Current assets Reserves surplus Equity and liabilities were shown as a percentage of total liabilities. -Horizontal and vertical analysis of the following Profit and Loss items with 2001 as a base year (horizontal) and Net Sales as base (vertical): Financial Charges Operating expense Gross Profits Taxes Profit before Tax CHAPTER 4 RESULTS AND DISCUSSION Table 4. 1: Pakistan State Oil Company Limited Balance Sheets (2001-2005) Table 4. 2: Pakistan State Oil Company Limited Income Statements (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 43305. 67 133136. 52 172445. 77 161537. 98 212503. 65 Cost of Sales 136933. 58 126359. 13 163490. 58 152346. 86 198757. 32 Gross Profit 6372. 09 6777. 39 8955. 19 9191. 12 13746. 33 Operating Expenses 2367. 97 2210. 69 2750. 26 4223. 43 5443. 58 Operating Profit 4004. 12 4566. 7 6204. 93 4967. 69 8302. 75 Financial Charges 778. 7 979. 22 274. 78 189. 08 370. 7 Other income 225. 94 1549. 77 279. 17 1484. 36 1294. 34 Profit Before Taxation 3451. 36 5137. 25 6209. 32 6262. 97 9226. 39 Taxation 1200 1949 2179 2181 2183 Profit After Taxation 2251. 36 3188. 25 4030. 32 4081. 97 7043. 39 Table 4. : Pakistan State Oil Company Limited Vertical Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 81. 44% 74. 84% 69. 41% 74. 60% 78. 22% Fixed Assets (Gross) 21. 99% 24. 10% 29. 01% 25. 40% 21. 78% Depreciation 11. 02% 11. 90% 13. 96% 12. 51% 12. 08% Fixed Assets (Net) 10. 97% 12. 21% 15. 05% 12. 89% 9. 70% Capital work in Progress 2. 28% 2. 72% 3. 53% 2. 76% 2. 39% Long Term Investment Deposits 5. 32% 10. 23% 12. 01% 9. 75% 9. 69% Total Assets 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Current Liabilities 63. 63% 62. 39% 55. 40% 59. 72% 62. 92% Deferred Taxation 0. 00% . 44% 1. 15% 1. 33% 1. 21% Long Term Liabilities 3. 82% 1. 85% 3. 05% 2. 53% 2. 63% Total Liabilities 67. 45% 65. 69% 59. 60% 63. 58% 66. 76% Paid-Up Capital 4. 74% 4. 36% 5. 30% 4. 04% 3. 29% Re serves Surplus 27. 80% 29. 96% 35. 09% 32. 38% 29. 95% Total Liabilities Capital 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Analysis: The vertical common size of the B/S of PSO shows that the current as well as fixed assets are pretty much the same and there is major improvement in long term investment deposits while on the liability side again the current and long term liabilities are pretty much constant. The reserves surplus have been increasing with the passage of time. Table 4. 4: Pakistan State Oil Company Limited Vertical Common Size of Income statement (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Cost of Sales 95. 55% 94. 91% 94. 81% 94. 31% 93. 53% Gross Profit 4. 45% 5. 09% 5. 19% 5. 69% 6. 47% Operating Expenses 1. 65% 1. 66% 1. 59% 2. 61% 2. 56% Operating Profit 2. 79% 3. 43% 3. 60% 3. 08% 3. 91% Financial Charges 0. 54% 0. 74% 0. 16% 0. 12% 0. 17% Other income 0. 16% 1. 16% 0. 16% 0. 92% 0. 61% Profit Before Taxation 2. 41% 3. 86% 3. 60% 3. 88% 4. 34% Taxation 0. 84% 1. 46% 1. 26% 1. 35% 1. 03% Profit After Taxation 1. 57% 2. 39% 2. 34% 2. 53% 3. 31% Analysis: The detailed analysis of the I/S of PSO shows that the oil marketing company has been able to slightly reduce its cost of sales which has resulted in a significant increase in the gross profit while the operating profit has also shown an increase as the operating expenses have increased but in a lesser proportion. The financial charges have been drastically cut down due to a better financial performance. There has been a marked improvement in the other income which shows that the company has increased its sources of income and all this has resulted in higher profits. Table 4. 5: Pakistan State Oil Company Limited Horizontal Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 100% -0. 001% -8. 54% 28. 90% 65. 98% Fixed Assets (Gross) 100% 19. 269% 41. 53% 62. 56% 71. 13% Depreciation 100% 17. 468% 35. 91% 59. 74% 89. 36% Fixed Assets (Net) 100% 21. 078% 47. 18% 65. 40% 52. 81% Capital work in Progress 100% 30. 150% 66. 47% 70. 52% 81. 58% Long Term Investment Deposits 100% 109. 346% 142. 40% 158. 6% 214. 84% Total Assets 100% 8. 811% 7. 30% 40. 72% 72. 81% Current Liabilities 100% 6. 701% -6. 57% 32. 08% 70. 88% Deferred Taxation 100% 47200% 37250% 56425% 63018% Long Term Liabilities 100% -47. 371% -14. 53% -7. 05% 18. 70% Total Liabilities 100% 5. 958% -5. 19% 32. 63% 71. 02% Financed By Paid-Up Capital 100% 0. 000% 20. 00% 20. 00% 20. 00% Reserves Sur plus 100% 17. 237% 35. 44% 63. 87% 86. 15% Total Liabilities Capital 100% 8. 811% 7. 30% 40. 72% 72. 81% Analysis: The horizontal common size of the B/S of PSO significantly tells that the current assets have increased substantially mainly due to the increase in sales. Another important aspect to note is the great deal of increase in the long term investments which is due to various new projects that have been undertaken and this shows that the company is expanding. The increase in current liabilities is mainly due to the increase in credit sales and also because a significant portion of long term loans has been converted into current portion while the increase in long term liabilities is mainly due to the increase in employee benefits which again shows that the company has been doing very well. Another good indicator of the good performance is the increase in the reserves surplus section of the B/S. Table 4. 6: Pakistan State Oil Company Limited Horizontal Common Size of Income statement (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 100% -7. 096% 20. 33% 12. 72% 48. 29% Cost of Sales 100% -7. 722% 19. 39% 11. 26% 45. 15% Gross Profit 100% 6. 361% 40. 54% 44. 24% 115. 73% Operating Expenses 100% -6. 642% 16. 14% 78. 36% 129. 88% Operating Profit 100% 14. 050% 54. 96% 24. 06% 107. 36% Financial Charges 100% 25. 751% -64. 71% -75. 72% -52. 40% Other income 100% 585. 921% 23. 56% 556. 97% 472. 87% Profit Before Taxation 100% 48. 847% 79. 91% 81. 46% 167. 33% Taxation 100% 62. 417% 81. 58% 81. 75% 81. 92% Profit After Taxation 100% 41. 614% 79. 02% 81. 31% 212. 85% Analysis: The horizontal common size of the I/S clearly indicates the drastic improvement in the sales which is almost around 50% while due to a lesser increase in the cost of sales the gross profit is up by over 115%. The financial charges have been reduced to more than 50% and a huge increase in other sources of income has led to higher profit before taxation. Table 4. 7: Shell Pakistan Limited Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 6470. 64 7145. 22 6149. 68 7912. 63 12725. 13 Fixed Assets (Gross) 6027. 49 6705. 37 7554. 29 8708. 5 9569. 78 Accumulated Depreciation 2189. 29 2738. 78 3290. 57 3852. 84 4532. 53 Fixed Assets (Net) 3838. 20 3966. 59 4263. 72 4855. 21 5037. 25 Capital Work in Progress 464. 52 534. 61 564. 44 544. 07 582. 38 Long Term Investment Deposits 1294. 68 186. 27 1998. 93 2032. 22 1988. 13 Total Assets 12068. 04 11832. 69 12976. 77 15344. 13 20332. 89 Liabilities Current Li abilities 6470. 65 5934. 76 7029. 83 9042. 39 11951. 06 Long Term Liabilities 66. 84 47. 51 77. 86 43. 49 48. 22 Deferred Taxation 141 29. 24 17. 26 126. 42 20. 74 Financed By Paid-Up Capital 350. 66 350. 66 350. 66 350. 66 350. 66 Reserves Surplus 038. 89 5470. 52 5501. 16 5781. 87 7962. 21 Total Liabilities Equity 12068. 04 11832. 69 12976. 77 15344. 13 20332. 89 Table 4. 8: Shell Pakistan Limited Income Statements (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 65725. 15 69042. 05 77822. 82 79180. 35 98526. 62 Cost of Sales 61628. 48 64164. 23 72049. 47 72973. 11 89684. 58 Gross Profit 4096. 67 4877. 82 5773. 35 6207. 24 8842. 04 Operating Expenses 2486. 67 3292. 92 3794. 36 3806. 01 4609. 77 Operating Profit 1610. 00 1584. 90 1978. 99 2401. 23 4232. 27 Financial Charges 50. 27 46. 76 51. 48 224. 33 596. 55 Other Income 191. 72 154. 46 110. 32 12. 02 22. 33 Profit Before Taxation 1630. 45 1572. 44 1899. 91 2188. 92 3658. 05 Taxation 574. 42 509. 62 644. 91 680. 91 1197. 19 Profit After Taxation 1056. 03 1062. 81 1255. 00 1508. 01 2460. 86 Table 4. 9: Shell Pakistan Limited Vertical Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 53. 62% 60. 39% 47. 39% 51. 57% 62. 58% Fixed Assets (Gross) 49. 95% 56. 67% 58. 21% 56. 75% 47. 07% Accumulated Depreciation 18. 14% 23. 15% 25. 36% 25. 11% 22. 29% Fixed Assets (Net) 31. 80% 33. 52% 32. 86% 31. 64% 24. 77% Capital Work in Progress 3. 85% 4. 52% 4. 35% 3. 55% 2. 86% Long Term Investment Deposits 0. 73% 1. 57% 15. 40% 13. 24% 9. 78% Total Assets 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Current Liabilities 53. 62% 50. 16% 54. 17% 58. 93% 58. 78% Long Term Liabilities 0. 55% 0. 40% 0. 60% 0. 28% 0. 24% Deferred Taxation 1. 17% 0. 25% 0. 13% 0. 82% 0. 10% Financed By Paid-Up Capital 2. 91% 2. 96% 2. 70% 2. 29% 1. 72% Reserves Surplus 41. 75% 46. 23% 42. 39% 3 7. 68% 39. 16% Total Liabilities Equity 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Analysis: Vertical common size of the B/S of Shell Pakistan shows that the company has been pretty much maintaining its proportion of all the assets, liabilities How to cite Financial Analysis of Oil Marketing Companies, Essays

Black Boy Hunger free essay sample

Literal hunger plays an important role in the story because it helps his determination of success become larger and larger. We see him talk about hunger, literally, more in the beginning of the story because that is when he is a young boy and he complains a lot more than when he is a teenager out of school. In a scene when he is living with his aunt and uncle he tells us, â€Å"I was afraid that somehow the biscuits might disappear during the night, while I was sleeping. I did not want to wake up in the morning, as I had so often in the past, feeling hungry and knowing that there was no food in the house. So, surreptitiously, I took some of the biscuits from the platter and slipped them into my pocket, not to eat, but to keep as bulwark against any possible attack of hunger† (Wright 50). We will write a custom essay sample on Black Boy Hunger or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Before living at his aunt and uncle’s house he grows up having very little to no food at all when he is hungry, so he does not know what to expect when he starts living in a different house. I definitely feel sorry for him here because he has to be sneaky and take the bread because he is scared that he would not have anything to eat in the morning. When one is young, food is a necessity for one’s body because you are growing so quickly. I think Richard’s hunger for food definitely contributes to his wanting to work because he knows that if he works, he would get money, which would then lead to having food and him being satisfied instead of having to hoard food. Richard also has the hunger to leave the place where he has been growing up in (the South) and to be free so he can start fresh somewhere new. Where he is at in life right now is not satisfying him and he wants more out of life. Richard also cares so much about his mother which makes him want to do omething better than what he is doing now. He sees other people, who have come from the North and wants to be where they are because he hears he can have a better life there. He lets us in on his struggle and says, â€Å"There were hours when hunger would make me weak, would make me sway while walking, would make my heart give a sudden wild spurt of beating that would shake my body and make me breathless; but the happiness of being free would lift me beyond hunger, would enable me to discipline the sensations of my body to the extent that I could temporarily forget† (127). From this quote, I think Richard is finally realizing that if he keeps focusing on his hunger to live a better life and â€Å"be free† in the North then that would soon diminish his hunger for food for a while. He may be physically hungry, but he is mentally hungry for freedom and starting a new life. That kind of ambition that he has to be successful is what he is worried about more than anything that is going on in his life physically at that time. Richard is hungry for happiness, and what comes with success comes happiness, and I think that he is willing to risk just about anything in order to get to where he wants to be. For that to happen, he knows he has to go to the â€Å"other world,† which is the North. There is a point in Richard’s life where he realizes that his literal hunger eventually transforms into his hunger for success: â€Å"But this new hunger baffled me, scared me, made me angry and insistent. Whenever I begged for food now my mother would pour me a cup of tea which would still the clamor in my stomach for a moment or two; but a little later I would feel hunger nudging my ribs, twisting my empty guts until they ached. I would grow dizzy and my vision would dim. I became less active in my play, and for the first time in my life I had to pause and think of what was happening to me† (15). After having that feeling of hunger in his body, Richard knows that he has to do something about it. I think at this particular time, he begins his journey onto becoming a stronger person than how he was before. He knows that he cannot go on with this kind of lifestyle and he is the only one that can change it and make it better. Even though he may still be oblivious to some other things going on around him, Richard knows what is important, which is his health because that is what really matters. He must then figure out what to do in order to get what he wants and how he is going to do it. You can definitely tell that Richard is a smart boy because he feels and thinks very differently than other kids his age. I think that other kids his age would not actually â€Å"pause and think† of what was actually happening to them like Richard does. None of them would have the drive to do something about their â€Å"hunger†, which is why he is able to strive above his peers and begin his path to a successful life. The way that Richard uses the word â€Å"hunger† literally and metaphorically helps make his story so much more compelling. He gets to where he wants to be by making a lot of sacrifices throughout his life because without them he would not be able to get anywhere. His hunger to be successful in life is what drives him each and everyday to work harder so he can provide not only for himself, but for his family as well.

World Wide Web free essay sample

The web has been a place of refuge for many people from all works of life in the sense that one can virtual find answers or clues to many of the so call questions that one may stumble on regarding ones day to day activities (Walt Howe, 2010) from looking up a friend on Facebook, initiating a date or blind date, reading latest news (even from another countries or continents), making orders and even paying bills. The internet has actually made a lot of things possible, and the pages that are accessed on the web are helped by the technologies that makes up the internet. Arpanet had done a great work providing us with the technologies that can switch packets which helps network data (Lan Peter, 2005). The concept of the web was actually developed after the second world war by researcher who want their works to be accessed by other research across the globe. We will write a custom essay sample on World Wide Web or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Vannevar Bush who many often referenced as the webs theoretical father based on his popular essay at the time which as actually encouraged the developers of internet and the web. (http://www. centerspan. org/tutorial/www. tm) Now looking at the world wide web from its humble beginning to where we stand today one would have to do more than exaggerating when trying to predict what effect the web will have on people in the nearest future. Presently many things can be achieved by the use of the web today, even the content of the database can be may to be displaced in the web and a whole file can be hyperlinked to a web for everyone who visit the web and may want to see the content of the file (Deitel Deitel, 2008). What can we therefore predict about the future effect of the web based on the volumes of documents that are presently available on it today, either to me/us or the children growing or the ones yet to be born? I keep wondering if our children will have to sit within the walls of any classroom to learn whatsoever they need to be learn as many more online tutor and more (simple and easy to learn for dummies) textbooks. I will also want to say that in the nearest future the web will be very light to be able to displace images on any device that is use to access the webs, and the visuals will be great for swift deliveries and more people will no more have to buy news papers as more news will be available on the web for readers. Therefore going by the way the web is growing today and the technologies that are available to us today, I will like to say that the effect of the internet on us all and our children will be great and both the good, the bad and the ugly are there on the world wide web for us all. World Wide Web free essay sample Which region do most of the customers come from Do they contribute the biggest amount of revenue? The answer might tell managers where to focus marketing and sales resources, or pitch different messages to different regions -According to the data we can see the west is the biggest part of customers and amount by 41% with big different from south 23% , east 21% and north 15% so we should look to the lowest parts to see what is the gap of decreasing the percentage of customers and the amount of revenue otherwise , we have to keep going within our service in the west part because its the biggest part of customers and revenue -What form of payment is the most common? The answer could be used to emphasize in advertising the most preferred means of payment. According to the data we can emphasize that PayPal is the most preferred to the customers than Credit payment so that we should give an attention to the PayPal payment and make is more easier and safety for our customers. We will write a custom essay sample on World Wide Web or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Which source of advertisement appears to be more effective? Is it equally more efficient? What does this mean? Compare between which is the best for making the business much work and more purchasing I can make sure that web is more effective than email for business progress. Otherwise ,email can be a away for the business to commentate with the customers because according to some researches showed that not all the people whom are having email going to check up their inbox every day, compare to the web that is because customers feel looking for purchase from web is more faster to them and easier ,but for whom using email have to open their account and click the link to access the web more than that some websites are blocked by email so when you try to move by clicking in the link the web will reject your order . In addition ,in web customers can feel the freedom to move from page to another easier and faster may be some people they don’t give care for these things but some give it care. ow days, the advertisement for any business can be with many social sites such as facebook ,twitter and linked almost everyone has one of these social sites so it can help to discover new webs and business markets. For example I am a customer for Lazada since 2 years already but if you asked me how I got into lazada my answer will be by facebook I liked their post and page after that I can see all the promotion products everyday but if they sent to my email I will never know because I open my email every week times which is very small percentage for me to know the new things in many sites -What is the most popular product purchased? So what? so what? Are there any times of day when purchases are most common? Do people buy products while at work (likely during the day) or at home (likely in the evening) or after midnight? How should this guide future marketing strategies?

How to Calculate a Tip in Your Head

How to Calculate a Tip in Your Head It is customary to leave a tip for many services that are supplied by people like waiters and waitresses, taxi drivers, hotel maids, moving company staff and hair salon staff to name a few. The rule of thumb amount is 15%, although there are varying thoughts as to the amount that would be appropriate for exceptional service (usually 20%) and poor service (10% or less). Some people frown on giving no tip, as in many instances the server is not the reason for the service issue; traffic snarls and kitchen issues can be the problems and these people rely on tips to supplement their minimum wage. So now that we have some ideas as to the etiquette involved, lets look at some simple math ideas to make the calculation simple but effective. Easy Way to Calculate a 15% Tip Rule of thumb - standard service - 15%. The most commonly used shortcut to 15% is to find 10% and then add a half. This is an easy calculation, since all you need to do to find 10% is move the decimal point one space to the left (make the number smaller). Consider a bill for 47.31. First impressions show us 10% is 4.70 and a half of this amount is 2.35, so a tip of 7.00 is reasonable. This is a simplification as we can do the exact math - 4.70 add 2.35 is 7.05 - but we are looking for an easy method, not an exacting science. Another sound strategy is to work from the highest place value, in other words, if the bill is in the 50s then the tip should be in the 7.50 range. If the bill is 124.00, the logic follows that 12 add 6 18 so a total of 124 add 18 or 142 is reasonable. Calculating a Tip Based on Sales Tax Another very sound strategy is to work from the sales tax. Look at your sales tax rates and devise a strategy based on the amount. In New York city, the tax on a meal is 8.75% so you can just double the amount of tax and your service provider is happy. There are also some fun and unique answers to the question of how to do the math without straining yourself. Consider the following examples that people have provided:Great service - bill times 10%, then doubled.Less then great service - bill times 10%. For a bill under $50:Great service - bill times 10% then doubled - you will be over 15 and the appreciation should be noticed.Good service - somewhere in between great and less than good. Add a little to less than good and you will be safe.Less than good service - bill times 10% - the message will be conveyed but you are smart enough to realize that it may not be their fault alone. For a bill over $50:Make sure you start your calculations based on the pre tax amount of your bill.Great service - 10% of the bill - doubled - round down.Less than great - 10% round down. With the exception of those bills where the tip is already included, tipping and how to figure out the tip is a very individualized experience. Estimation and rounding is something I do all the time for tipping as I am not going to worry about a few extra cents here and there. And tip-ically I round up as its a rare event when I dont feel like being generous when Im out for a meal. Edited by Anne Marie Helmenstine, Ph.D.

Battle of Kwajalein in World War II

Battle of Kwajalein in World War II The Battle of Kwajalein occurred January 31 to February 3, 1944 in the Pacific Theater of World War II (1939-1945). Moving forward from victories in the Solomons and Gilbert Islands in 1943, Allied forces sought to penetrate the next ring of Japanese defenses in the central Pacific. Attacking into the Marshall Islands, the Allies occupied Majuro and then commenced operations against Kwajalein. Striking at both ends of the atoll, they succeeded in eliminating the Japanese opposition after brief but fierce battles. The triumph opened the way for the subsequent capture of Eniwetok and a campaign against the Marianas.   Background In the wake of the American victories at Tarawa and Makin in November 1943, Allied forces continued their island-hopping campaign by moving against Japanese positions in Marshall Islands. Part of the Eastern Mandates, the Marshalls were originally a German possession and were awarded to Japan after World War I. Considered part of the outer ring of Japanese territory, planners in Tokyo decided after the loss of the Solomons and New Guinea that the islands were expendable. With this in mind, what troops were available were shifted to the area to make the islands capture as costly as possible. Japanese Preparations Led by Rear Admiral Monzo Akiyama, Japanese forces in the Marshalls consisted of the 6th Base Force which initially numbered approximately 8,100 men and 110 aircraft. While a sizable force, Akiyamas strength was diluted by the need to spread his command over the entirety of the Marshalls. In addition, many of Akiyamas troops were labor/construction details or naval forces with little ground combat training. As a result, Akiyama could only muster around 4,000 effectives. Believing the assault would strike one of the outlying islands first, he positioned the bulk of his men on Jaluit, Mili, Maloelap, and Wotje. In November 1943, American airstrikes began whittling down Akiyamas air power, destroying 71 aircraft. These were partially replaced over the next several weeks by reinforcements flown in from Truk. On the Allied side, Admiral Chester Nimitz originally planned a series of assaults on the outer islands of the Marshalls, but upon learning of Japanese troop dispositions through ULTRA radio intercepts altered his approach. Rather than strike where Akiyamas defenses were strongest, Nimitz directed his forces to move against Kwajalein Atoll in the central Marshalls. Armies Commanders Allies Rear Admiral Richmond K. TurnerMajor General Holland M. Smithapprox. 42,000 men (2 divisions) Japanese Rear Admiral Monzo Akiyamaapprox. 8,100 men Allied Plans Designated Operation Flintlock, the Allied plan called for Rear Admiral Richmond K. Turners 5th Amphibious Force to deliver Major General Holland M. Smiths V Amphibious Corps to the atoll where Major General Harry Schmidts 4th Marine Division would assault the linked islands of Roi-Namur while Major General Charles Corletts 7th Infantry Division attacked Kwajalein Island. To prepare for the operation, Allied aircraft repeatedly struck Japanese airbases in the Marshalls through December. This saw B-24 Liberators stage through Baker Island to bomb a variety of strategic targets including the airfield on Mili. Subsequent strikes saw A-24 Banshees and B-25 Mitchells mount several raids across the Marshalls. Moving into position, US carriers began a concerted air offensive against Kwajalein on January 29, 1944. Two days later, US troops captured the small island of Majuro, 220 miles to the southeast, without a fight. This operation was conducted by the V Amphibious Corps Marine Reconnaissance Company and 2nd Battalion, 106th Infantry.    Coming Ashore That same day, members of the 7th Infantry Division landed on small islands, dubbed Carlos, Carter, Cecil, and Carlson, near Kwajalein to establish artillery positions for the assault on the island. The next day, the artillery, with additional fire from US warships, including USS Tennessee (BB-43), opened fire on Kwajalein Island. Pummeling the island, the bombardment allowed the 7th Infantry to land and easily overcome the Japanese resistance. The attack was also aided by the weak nature of the Japanese defenses which could not be built in depth due to the islands narrowness.   Fighting continued for four day with the Japanese mounting nightly counterattacks. On February 3, Kwajalein Island was declared secure. Roi-Namur At the north end of the atoll, elements of the 4th Marines followed a similar strategy and established fire bases on islands dubbed Ivan, Jacob, Albert, Allen, and Abraham. Attacking Roi-Namur on February 1, they succeeded in securing the airfield on Roi that day and eliminated Japanese resistance on Namur the next day. The largest single loss of life in the battle occurred when a Marine threw a satchel charge into a bunker containing torpedo warheads. The resulting blast killed 20 Marines and wounded several others. Aftermath The victory at Kwajalein broke a hole through the Japanese outer defenses and was a key step in the Allies island-hopping campaign. Allied losses in the battle numbered 372 killed and 1,592 wounded. Japanese casualties are estimated at 7,870 killed/wounded and 105 captured. In assessing the outcome at Kwajalein, Allied planners were pleased to find that the tactical changes made after the bloody assault on Tarawa had bore fruit and plans were made to attack Eniwetok Atoll on February 17. For the Japanese, the battle demonstrated that beachline defenses were too vulnerable to attack and that defense in-depth was necessary if they hoped to stop Allied assaults.

Ecomics instution Essay Example | Topics and Well Written Essays - 1500 words

Ecomics instution - Essay Example Despite the increase in the income level of these individuals in the past decade, it is revealed that money as a single entity does not offer the remedy to counter unhappiness. With various strategies applied, to measure the trends in Layard’s case happiness, the modern society is capable of identifying measures that would limit success. As an economist, Layard poses a question to individuals in the quest to find happiness asking them what they would do differently to achieve the fete. His opinion opposes the capitalists’ theories that favor the aspect of individualism. Their desire to offer competition in the economic struggling society suggests limited room for improvement in the other social classes that may endeavor to rise from their demeaning state. The book is set in two main parts, the first part that introduces the constraints experienced in the desire to achieve happiness and the second part explaining measures that people implement to increase their happiness . It is often difficult to achieve total progress, and with perfection determining most of the conscious decisions made towards situations, limited progress may be achieved. Happiness is not achieved easily with obstacles impairing the person’s desire to achieve control of positivity towards the entity. Layard argues that there are provisions that counter happiness in the society and are in the form of psychological or mental instability. When people strain and suffer due to external factors that overshadow their economical achievements, there is little realized in the happiness brought by money. There can never be a defined happiness achieved without handling all external impairments of the physical mind. An individual must poses a sober and creative mind free from stress and external pressure from environmental entities to achieve development.

John Steinbeck's Life Essay Example | Topics and Well Written Essays - 1250 words

John Steinbeck's Life - Essay Example Published in the Stanford Spectator, a student enterprise, "Fingers of Cloud" seems out of place within its own deceptively-titled context, and, indeed, has been out of place, beyond the pens of Steinbeck critics, for over eighty years. Only Hughes and Timmerman have ventured more than the obligatory sentence or two that Steinbeck's biographers have deigned to scribe and share. Hughes's most helpful contribution is re-stating Thomas Kiernan's biographical information concerning Steinbeck's job as straw-boss on the Spreckels sugar-beet ranch in January 1921 (Hughes 4-5), which is likely the basis for some of the content in "Fingers of Cloud"; Timmerman's is noting the "mysterious pull of the mountains upon the human spirit" in the story, which "would surface in later works of Steinbeck's," and insisting, incorrectly, that Steinbeck's initial offering is "clearly inferior" when compared with "the later Steinbeck canon" (Timmerman 11, 22). Regardless of the opinions regarding the source and worth of "Fingers and Cloud," ecocriticism of Steinbeck's first story, as well as its place within Steinbeck's overall environmental context, have never been attempted. "Fingers of Cloud" is brief, only five pages long. In the story a young orphaned woman named Gertie appears, sweeping the floors of her house, singing gaily to herself. Steinbeck describes Gertie's "flat, pink face," her "benign smile," her "hair, as white as a washed sheep's wool and nearly as curly," and her "pink eyes" (160). In the span of only a few pages, Gertie ascends a mountain; gets caught in a rainstorm; barges into a Filipino labor camp; meets, seduces, and is seduced by Pedro, the boss; is married to him the following day; sets up house within the labor camp; gets beaten for days after; realizes and makes realized her whiteness and her new husband's blackness; and then, finally, re-Â ­ascends the mountain after apparently leaving Pedro, for good, behind. In terms of characterization, setting, and d ialogue, "Fingers of Cloud" offers tantalizing tastes of Steinbeck's style--a style that would allow Steinbeck to begin realizing his deepest wish, and a style that would cement his status as American's finest twentieth century American writer. Steinbeck's first character, Gertie, disregards her worldly duties, embracing instead the brilliant mystery of tall mountains and bright skies. At the story's opener, Gertie chants to herself, "Don't have to sweep no more--don't have to wash no more--don't have to do absolutely nothin'--no more" (160), repeating the last two words for extra effect. With her parents absent, and the family home now her own, the naive Gertie is well aware of her newfound freedom but does not yet realize how an absence of human connections will negatively impact her life, which comes into play later in Steinbeck's story. It is as if, with her mother and father gone, Gertie's purpose departs; and though her life may now be carefree, an emptiness still remains. Thu s, Gertie decides to leave behind her neighborhood--which is a monotonous collection of "houses and fences and grass plots" followed immediately by "new houses and fences and grass plots" (160)--and instead succumbs to the pull of the wild from the top of a mountain. Interestingly enough, upon

Fear of technlogy locally Essay Example for Free

Fear of technlogy locally Essay ICT had a big influence on work styles and the way in which day-to-day tasks are carried out in organisations. ICT has affected the way in which data is processed, information transmitted and knowledge is applied. Also ICT has influenced the physical environment of the workplace (individual workstations), what workers do (less paper more ICT), where they are based (sometimes from home), their job roles, their interaction with other people (less face to face and more electronic communication) and their skill needs (often need additional training or re-training). Communication ICT has affected not only the way people communicate but also the means that they use to communicate. Today the preferred methods of communication are e-mails and chat, messaging and chat facilities. The emphasis is on speed, interactivity and collaboration. An example would be that word processing programs allow comments to be added to documents without the original text being changed. This document can then be sent as an attachment using and e-mail program to one or more people who can also then add their own comments and re-distribute the document. Education ICT is incorporated at every educational level and begins with ICT being part of the national curriculum from an early age. Students need to develop software skills to enable then to carry out research and produce course work as they progress through the educational system. To support teachers and students a number of initiatives have been developed to provide them with resources that support both teaching and learning. Examples include cut-price computers and laptops for those with learning difficulties such as dyslexia. Local authorities have supported schools in getting access to the Internet and have developed ICT centres where kills can be improved. Internet access is also available in most public libraries. The agenda is simply to widen participation in the use of ICT. The development of ICT skills is necessary as these transferable key skills are seen to be necessary by employers just as are maths and English competence. E learning has also been developed for those who do not have the time to study full time and prefer to enhance their qualifications form home. Online courses exist such as those for ECDL (European Computer Driving Licence), those provided by Learn Direct and Webwise. Check out the following sites: http://www. becta. org. uk/ http://www. ngfl. gov. uk/ http://www. bbc. co. uk/schools/ http://www. bbc. co. uk/learning/ http://www. bbc. co. uk/webwise/ http://www. learndirect. co. uk/courses Entertainment and leisure Entertainment and leisure pursuits have changed in terms of what we do and how we do it. These changes are primarily due to the Internet. Which provides opportunities for communication, playing games and other interactive activities. People can book tickets for flights, holidays and the theatre. Mobile phone and games consoles have provide additional ways to use the Internet without the need for a traditional PC. http://www.ticketmaster.com/ http://www.lastminute.com/ http://www.games.com/ http://www.londoneye.com/ http://www.alton-towers.co.uk/resort/

The Birthmark Essay -- Literary Analysis, Nathaniel Hawthorne

A man is never satiated; he is constantly striving for perfection, imprudent about eventuality. Such is the case in Nathaniel Hawthorne's "The Birthmark." An escape from reality, Romanticism's superiority over Rationalism, a fascination for God's revelation make Nathaniel Hawthorne's "The Birthmark" Romantic literature. When the quest for human feat opposes divine setup, it has no chance of prospering. In fact, trying to flee from reality and intervening nature recurrently leads to upsetting consequences. In this short narrative, it is salient to discern "that the birthmark is just that: a birthmark, that is, something physical; and a birthmark, that is, something not acquired but inherent, one of Georgiana's givens, in fact, equivalent to" the exquisite personage (Fetterley 2). Furthermore, Aylmer's revulsion for the birthmark is importunate. In other words, it can be said that he is unable to accept the fact that nature cannot be changed or altered. A literary critic proposes that, "[Aylmer] reads [the birthmark] as a sign of the inevitable imperfection of all things in nature and sees in it a challenge to man's ability to transcend nature" (Fetterley 1). In addition, Aylmer is so haughty of his knowledge that he remains unwavering in doing what he should never have done and says, "Unless all my science have deceived me, it cannot fail" (Hawthorne 12). His "past experiences, his dreams, every evidence tells him that this experiment will be fatal for Georgiana, yet he proceeds" (Eckstein 1). Nevertheless, his nightmares about the pygmy birthmark constrain him to emancipate himself from any kind of rules leading him to perform the fatal experiment of eliminating something that is inherent and indigenous. Beside... ...ect all along. Surely, the aim of scientific knowledge is to try to make the world a better and convenient place to live, not to learn to play with God's revelation. The birthmark consecutively symbolizes nature, exquisiteness and demise. Likewise, nature places numerous flaws and shortcomings on us to symbolize that no person can reach perfection. What is the lesson behind this moral allegory? The world's destiny, howsoever tragic it is, is not only under the direct control of God but also nature. Man has absolutely nothing to do with destiny. Hawthorne wants us to comprehend that happiness should be more inclined toward spirituality and affection than worldly gains. Nathaniel Hawthorne beautifully proposes, "Happiness is a butterfly, which when pursued, is always just beyond your grasp, but which, if you will sit down quietly, may alight upon you."

International trade as opportunity for workers Essay

When is international trade an opportunity for workers? When is it a threat to workers? International trade is rewarding as it is unsatisfying when it comes to the average worker. When a new business is started for that region or area jobs are expanded merely because it is expected that it will be at a rate of lower cost production along with less expense on product materials. The more the business is in demand the more job opportunities a created or expanded. In some incidents, not so much in Mexico, but in different areas it has resulted in the local economy struggling with jobs. In some new found companies or businesses, they find that bringing in pre-trained employees (especially white collar employees) and resources fair better than working with the local nationals in that area. This very well could happen in Mexico for different types of businesses, but it is still unlikely for the mere reason of bidding for the local support. Economic prosperity is a large reason for International trade, but along with the wealth is a better chance of rules, regulations, and benefits from employees with the new found business. The laws enforced by International trade agreements tend to stress more worker related issues than that of a host nation of many second or third world countries. If the benefits and laws all improve the local’s views on the new business then a better turnout and support structure will follow for everyone involved. The best example of this is how NAFTA has implemented change and looks to have this enforced by all countries that agree to the terms with in the agreement. What are some of the major challenges confronting the international trading system? International trading has a plethora of challenges that barricade the system before any true benefits are reveled. Among these challenges are the social structure indifferences that are displayed between countries as it pertains to business plans and the split of revenue between parties. With the continuing differences between international organizations, too much red tape is casted over many prime opportunities for growth between organizations. Therefore, values that represent democratic, political and economic principles are what international organizations should be about (Moore, 1999). In addition to the government and political structures that cause challenges for international trading systems, natural resources are a key deterrent in international trade. In places like South America where the lumber and logging business is prosperous, many international trades are restrained from outside agencies coming into that region and depleting the resources more than they already have been depleted. The entire world is feeling the effects of what is considered to be the green house effect and the environmental issues that face every country range in lack of natural resources in different areas to natural disasters that alter the way the land, structures, and businesses are ran. International trade faces the constant change of supply and demand and while the world has always relied on fossil fuels for power or energy, new forms of energy are being developed that shows that international trade varies from one day to the next with its challenges. Reference: Kongsrud, P.M. and I. Wanner (2005), _†The Impact of Structural Policies on Trade-related Adjustments and the Shift to Services†_, OECD Economics Department, Working Papers, No. 427, Retrieved December 3, 2008, from http://www.oecd.org/dataoecd/49/29/20686301.HTM Moore, M. (1999, September 28). _Changes for the global trading system in the new millenium_. Retrieved December 1, 2008, from WTO News: http://www.wto.org/english/news_e/pres99_e/pr139_e.htm

Across the Universe †All you need is love Essay

â€Å"Across the Universe† is a musical film based on 34 compositions by the legendary rock’n’roll quartet – the Beatles. The movie is called after the same name song of the band, â€Å"Across the Universe†, which was released in 1969 and later as one of tracks of a charity album â€Å"No One is Going to Change Our World† at the label â€Å"Apple†. The plot has nothing to do with the Beatles’ members life. However the pictured in the movie events represent many characteristics of their era being set in the 60’s and revolve around the songs which match up a lot of great scenes. All main characters bear the names derived from its original lyrics: dwarfed in life Lucy (â€Å"Lucy in the Sky with Diamonds†), ambitious Jude (â€Å"Hey Jude†), an amateur singer Sadie (â€Å"Sexy Sadie†), a good-for-nothing Max (â€Å"Maxwell’s Silver Hammer†), Prudence (â€Å"Dear Prudence†) etc. The first 45 minutes is hyper and let us meet the characters. It doesn’t really rely on plot, like most musicals, it relies more on character development. Jude moves to the USA in purpose to find his father. On arrival he accidentally meets Max who becomes his friend in a short time. Together the boys go to New York where they are joined by Max’s sister Lucy (she has just lost her boyfriend killed on the battlefield). They quickly find out that the dream of living independently and enjoying their lives as an adults has its own difficulties. The second act is different: Vietnam War, psychedelic trips caused by taking LSD, free love flavoured with rock’n’roll – that is the very scenery of the romantic and at the same time tragic storyline. In the third act we actually get to see the characters solve their problems, it deals a lot more with our feelings towards music and war. Across the Universe† is actually much different from most musicals. Where most musicals rely on either joy, emotion, or war, it relies on all three. There are some moments where you actually feel like you want to get up and dance. The music here is absolutely amazing. No seriously. It’s amazing. The cast members (and read how I say cast members and not vocalists) sang all of these songs and did such a great job that if I even had a choice, I would actually had to say that some of their versions of songs were better than the actual Beatles. Speaking about the strongest moments I would distinguish one perfect example of telling a story through the song that has profound significance to me and too intense for words – the scene where Jude paints a tore and nailed to the canvas bleeding strawberry during â€Å"Strawberry Fields Forever† being sang. The berry as a symbol of love, streams of blood as a symbol of war and death, flashing faces of the characters in the background and paint-made blood all over the screen – it’s all in red, the color of lust and destruction. While watching the movie I felt different emotions: laughter, happiness, excitement but also sadness, fear and anger. What I’ve got from â€Å"Across the Universe† is more than a film, it is an experience in itself. It could be any kind of experience — a fun and very different experience, or a deeply emotional and sensual experience. For me, it was more of the second. When â€Å"Hey Jude† played near end of the movie I had run out of tears. It felt like I knew all the characters forever but when the two hours and ten minutes were over I was dying to see more. I am actually planning on seeing this again and again.

Free Essays on Losing Samantha; Gaining Compassion

were like ice that sent an uninterrupted chill down my spine. â€Å"Samantha has a large tumor on her back.† My knees went weak. I understood from those past two minutes that my life was about to change forever. The news about my 12 year old sister broke out into the small 1500 population town within the hour my dad spoke it. Everyone came together suddenly to organize fundraisers to help out our family with the outrageous bills that were soon to come. The young people from every church made plans for a prayer breakfast in honor of Samantha. Each church had their young people say a prayer, sing a song, or give a small presentation about my sister. Samantha’s dad, Brian, called my dad one day with encouraging news. â€Å"My friends are putting together a festival in honor of Samantha.† I thought this was very generous because he was going through the same situation we were. Ladies from the church my dad pastors came up with the idea of selling barbeque dinners and bake sales. They put their minds to work right away. They labored for hours in taking orders, donations, and preparing the food. I had no idea the people that lived in that miniature town could be so concer ned about my little sister and her family. It seems everyone understood what we were going through and helped us ... Free Essays on Losing Samantha; Gaining Compassion Free Essays on Losing Samantha; Gaining Compassion Losing Samantha; Gaining Compassion October 3, 2000 seemed just like any other Monday. I was working at Brown’s, an independently owned grocery store. My dad came in with Shelby and Colton, my youngest sister and brother, earlier than he usually did on a school day. He approached my register with a somber expression on his face that will never be forgotten. Samantha, my other sister who was also younger than me, had been complaining of backaches and had been visiting hospitals and doctors habitually. An uneasy reaction inside told me the news he was about to share with me pertained to her and was not going to be enjoyable. His words were like ice that sent an uninterrupted chill down my spine. â€Å"Samantha has a large tumor on her back.† My knees went weak. I understood from those past two minutes that my life was about to change forever. The news about my 12 year old sister broke out into the small 1500 population town within the hour my dad spoke it. Everyone came together suddenly to organize fundraisers to help out our family with the outrageous bills that were soon to come. The young people from every church made plans for a prayer breakfast in honor of Samantha. Each church had their young people say a prayer, sing a song, or give a small presentation about my sister. Samantha’s dad, Brian, called my dad one day with encouraging news. â€Å"My friends are putting together a festival in honor of Samantha.† I thought this was very generous because he was going through the same situation we were. Ladies from the church my dad pastors came up with the idea of selling barbeque dinners and bake sales. They put their minds to work right away. They labored for hours in taking orders, donations, and preparing the food. I had no idea the people that lived in that miniature town could be so concer ned about my little sister and her family. It seems everyone understood what we were going through and helped us ...

Analysing the economic relationship between households and firms

Analysing the economic relationship between households and firms The household is the basic unit of analysis in many social, microeconomic and government models. The term refers to all individuals who live in the same dwelling. In economics, a household is a person or a group of people living in the same residence. Household are owners of the factors of production which is includes land, labor, capital and entrepreneurship. Which are made available to firm that will pay factor incomes to the households. The firm will use the factors of production to produce output in the form of goods and services, which will purchase by the households. In buying the goods and services, households therefore incur expenditures. 2.0 Circular Flow between Firm and Households The circular flows between firms and household may therefore be represented by the following 4 flows: Flow of factor of production from household to firms Flow of incomes from firm to household Flow of output of goods and services from firm to households Flow of expenditures from household to fi rm These four flows are illustrated as appendix 1. Outer flow of incomes and expenditures are flow of money, whereas the inner flows of factors of production and outputs are flows of goods and services. According to Google 2011 the basic circular flow of income model consists of seven assumptions it include the economy consists of two households and firms sectors, households spend all of their income on goods and services or consumption. There is no saving and all output produced by firms is purchased by households through their expenditure, there is no financial, government, overseas sector. Last it is a closed economy with no exports or imports. Withdrawals occur when there are movements of funds out of the circular flow of income. 3.1 Saving (S) Households may not speed all the factors income received on current consumption, preferring to keep some for later deferred consumption. The first is the Financial Sector that consists of banks and non-bank intermediaries who engage in th e borrowing (savings from households) and lending of money. In terms of the circular flow of income model the withdrawals that financial institutions provide in the economy is the option for households to save their money. This is a withdrawal because the saved money cannot be spent in the economy and thus is an idle asset that means not all output will be purchased. 3.2 Taxation (T) The next sector introduced into the circular flow of income is the Government Sector that consists of the economic activities of local, state and federal governments. The withdrawal that the Government sector provides is through the collection of revenue through Taxes (T) that is provided by households and firms to the government. A tax is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority and is any contribution imposed by government. For example income tax is compulsory charge by the government to the people who is salary RM3000 and above for a month. 3.3 Import (M) Households may prefer to purchase goods and services from abroad instead of consuming domestically produced goods and services. In the circular flow of income model is the overseas sector which transforms the model from a closed economy to an open economy. The main withdrawal from this sector are imports (M), which represent spending by residents into the rest of the world. There are two basic types of import which is include industrial and consumer good, intermediate goods and service. For example we will import the apple for other country which is not suitable plant in our country.

Youth Justice System in England and Wales in Comparison with another Essay

Youth Justice System in England and Wales in Comparison with another Country - Essay Example The three stages of juvenile justice system include pre-trial, trial, and post-trial. The pre-trial stage includes those activities that occur in between the time when a crime gets reported and the young criminal is taken for trial in the court. The trial is the stage when the proceedings occur within a court in order to judge the treatments for the young offender depending on his crime. Once the treatment/judgment against him/her is declared the treatment of the offender is represented by the post-trial stage. In the whole process, professionals including police, prosecutor, as well as judges have a significant role to play since it is their powers that together decide and implement the treatment of the young offender (Swain, 2009, p.230). Earlier it was thought that justice systems do not have much impact on the behavior of the offenders and that such individuals cannot be corrected. However, in England and Wales, the youth justice system was more strictly taken concern of after th e incident of a murder of a young child by another two 10 years’ old boys. This incident had shaken the world and since then the justice systems in these countries had become more strict and severe to take measures against youth crimes. Establishment of Youth Justice Board was considered intending to set up proper leaders and teams as well as standards to focus on the youth crimes occurring in these countries and thereby implementing measures to treat such offenders correcting them and bringing them back into the society (Graham & Moore, 2006, pp.65-66). The present study focuses on the youth justice system prevailing in England and Wales and comparing the system with that of another country that has been considered to be Netherlands for the particular study and discussing the extent to which each of these countries takes into account the welfare and rights of the child. The Youth Justice Board: The Youth Justice Board (YJB) in England and Wales represents a public body that is in charge of the justice system in England and Wales. The Secretary of State for Justice appoints the members of the body. The purpose of this board is to prevent criminal activities by young individuals thus making sure that the offenders are safely and securely taken care of while their trials proceed. The reasons for the youth being involved in crimes are tried to be analyzed by this board such that they can be prevented from repeating the activities in the future (About the Youth Justice Board, 2012). A survey conducted by the British Crime Survey (BCS) reveals that according to the perceptions of the society or the community, young offenders need to be rehabilitated in order to correct them of their crimes that they have committed. Around 45 percent of the respondents of the study by BCS had supported the rehabilitation program and believed that the Youth Justice System should have their focus on such programs. However other respondents had their belief that the young delinq uents were treated very leniently by the justice system (Youth Justice Statistics 2010/11, 2012). To understand these issues, the justice system, the records of criminal activities, and the respective treatments in England and Wales would be relevant for understanding through a detailed study that follows in the further sections of the report. Youth Justice System in England and Wales: The Youth Justice Board (YJB) is in charge of the youth justice system in England and Wales. The board has the responsibility of managing the young offenders as well as determining ways through which such offenders may be prevented from performing crimes in future. Of a total ?800 million that is considered as the cost of

EGT Essay Example | Topics and Well Written Essays - 750 words

EGT - Essay Example Admittedly, the very first thing that is noticed about Chinese culture is the importance they give to relationships and connections. In other words, there is a term ‘Guanxi’ in Chinese that means ‘relationship’. Evidently, the Chinese give too much stress on having relationships based on trust and cooperation. In other words, for them, business promotion will not merely run on publicity but it will depend on developing trust and cooperation in China. Another sensitive area in business marketing in China is the personal pride. In this nation, humiliation; either private or public, has a seriously negative impact. However, in this nation, praising can do wonders even if done in moderation. It brings respect, loyalty and negotiations. Another important point is the use of ‘Keqi’, which means ‘courteous and refined behavior’. Generally, in China, exaggerated claims are often viewed with suspicion and disdain. On the other hand, modesty and humility always manage to win hearts easily, as they are recognized as the indications of truthfulness. One important point where contradiction can arise is the speed of negotiations. As Zhao (1991) points out, while Americans are known for their fast pace and the eagerness to get immediate result, Chinese believe in long term relationships and they generally dislike hurried transactions. Evidently, the American marketing strategy should aim first at developing trust and then at praising the Chinese culture in a way that does not arouse suspicion. Efforts to exaggerate the company’s credentials in the very beginning may not get the kind of response it can reasonably expect in the West. The second point of consideration is that the marketing and business negotiations should aim at the right person. Often, US marketing people engage in negotiations with people and finally realize that they were

Substance Abuse Treatment Essay Example | Topics and Well Written Essays - 500 words

Substance Abuse Treatment - Essay Example Many of the counselors at GCASA revealed that they actually prefer to work with mandated clients because, even if they initially resent having to come to treatment, they eventually are more motivated to continue with treatment and get something positive from it. Dr. John Kelly, the lead investigator on the study mentioned above is quoted as saying, "Once in a therapeutic environment, mandated patients seem to reflect on their situation and accept the need for treatment. The findings suggest that people can learn from the 'teachable moment' offered by a judicial mandate, even though the initial motivation for treatment is external." Employees are a vital part of any business. It is better to offer assistance to employees with personal problemsthan to discipline or fire them. Recovering employees become productive and effective members of your Kelly, J.F.; Finney, J.W.; and Moos, R. Substance use disorder patients who are mandated to treatment: Characteristics, treatment process, and 1- and 5-year outcomes. Journal of Substance Abuse Treatment 28(3):213-223, 2005.

Antigen Presenting Cell (APC): Structure and Function

Antigen Presenting Cell (APC): Structure and Function There are many complex mechanisms employed by the immune system to destroy invading organisms, abnormal cells and contain infections in order to maintain health and life. Antigen presenting cells (APC) are some of the cells that form part of these mechanisms. This essay will look at what APCs are, the different types with examples and their specific roles in the immune response. APCs are cells that take up antigens and present them to lymphocytes during an immune response (Sherwood et al, 2009). The components of APCs that actually do the presenting are Major Histocompatibility complexes (MHCs): Class I and Class II MHC molecules (Sompayrac, 2003). These two complexes provide two different pathways of antigen presentation that stimulates different population of T cells to eliminate the invading pathogen concerned. All nucleated cells of the body express MHC class I molecules and are therefore referred to as non-professional APCs (Kropshofer et al, 2005). MHC class I molecules are like billboards that display on the surface of the cell, peptides of processed endogenous proteins (Sompayrac, 2003).The endogenous proteins could be those encoded by viruses or parasites that have infected the cell. The main focus of MHC class I APCs is on events within the cell. Typically in a viral infection, the virus enters the cell and uses the cells own biosynthetic machinery to produce proteins encoded by viral genes (Wagner et al, 2004). Viral proteins are broken down into peptides by enzymes within the cell (proteasomes) (DeFranco et al, 2007). Following this, the peptides are carried into the endoplasmic reticulum by a TAP transporter (Sompayrac, 2003). After which MHC class I molecules within the cell are loaded with these peptides along with a sample of other normal proteins being made by the cell. This M HC-peptide complex is then transported to the cell surface for presentation. The protein fragments are displayed on MHC class I molecules to cytotoxic T cells (Tc) (Schindler, 1991). Having this mechanism in place allows all body cells to be monitored by CD8+ve Tc cells which inspect the cells. Tc cells detect foreign peptides bound to an MHC so if a cell has been invaded by a virus or parasite, the Tc cells are alerted and respond by destroying the abnormal cell thus preventing the spread of viruses throughout the body (DeFranco et al, 2007). MHC class II molecules are designed to present peptides to helper T cells (Th). Unlike the MHC class I molecules, MHC class II molecules are restricted to certain cell types termed professional APCs. Their focus is on events unfolding in the outside environment so can present samples of antigens derived from exogenous antigens in various parts of the body. Professional APCs display class I and class II MHCs as well as co-stimulatory signals (Sompayrac, 2003). In order to function, T cells, both Tc and Th cells, require activation. For this to happen, T cells need to recognise its cognate antibody in an MHC complex and they also need a co-stimulatory signal which can only be provided by professional APCs (Wellness.com, 2010). Co-stimulation is provided by a protein (B7) on APCs which interlocks with another protein (CD28) on the surface of T cells. Examples of professional APCs are activated macrophages, activated dendritic cells (DC) and activated B cells. DCs are the most important of the APCs as it capable of initiating an immune response by activating naà ¯ve T cells (Sompayrac, 2003). These cells are strategically located in areas of the body such as the skin, mucosal lining of lung and digestive tract where microbes are likely to enter (Sherwood et al, 2009). In normal tissues DCs are immature, expressing few B7 protein and MHC molecules on their surfaces so are poor antigen presenters. However, when a microbe(s) invade the tissue which DCs reside, they mature. DC are specialised as they have pattern recognition receptors on their surface which recognises common features of invading microbes such as LPS on the surface of gram negative bacteria. DCs takes up pathogens through receptor mediated endocytosis and degrade it in a lysosome (DeFranco et al, 2007). During a invasion, cytokines (TNF ÃŽ ±) released by activated mac rophages are recognised by the DC which informs it that innate immune system is under attack. Cytokines bind to receptors on the DC causing it to cease phagocytosis, leave the tissues (site of infection) and migrate through the lymphatic system. Whilst travelling, the DC equips the class II MHC reserves with the antigen and also produces B7 co-stimulatory protein. During this time also, DC upregulates the expression of class I MHC molecules as a precautionary measure that if the DC was infected by a virus or parasite at the site of infection, the antigen could be processed into protein fragments for presentation if necessary (Male, 2004). By the time the DC reaches the lymph node, it has its co-stimulatory molecules and the MHC class II- peptide complex(es) primed and ready to activate naà ¯ve T cells. Lymph nodes have compartments that have bountiful supplies of B and T cells (Schindler, 1991). Whilst at the lymph node, DCs trigger the adaptive immune response by presenting antigens to CD4+ve Th cells with matching receptors (Sherwood, 2009). After which, the APC secrete interleukin, a chemical which activate Th cells. Activated Th cells then secretes cytokines which stimulates the Th into rapid proliferation and differentiation into effector Th cells and memory Th cells (DeFranco et al, 2007). Memory Th cells are useful in future infections by the same pathogen whilst effector Th cells activate B cells to secrete antibodies enhancing other immune activities (Sherwood, 2009). Additionally effector Th cells and antibody molecules depart from the lymph node and enter the circulation which they then leave at the infection site. Antibodies opsonise the bacteria enhancing their uptakes by phagocytes, stimulate Natural killer cells (NK) to directly lyse the bacteria and also activate th e lethal compliment system (Sherwood, 2009). CD4 +ve T-cell on the other hand activate macrophages to become more cytotoxic. It is important that the magnitude of the immune response be in proportion to the seriousness of the attack (Sompayrac, 2003). As previously mentioned DCs migrate to lymph nodes only when activated by battle cytokines. In a serious infection, many cytokines are released and thus more DCs are activated. Before their migration to lymph nodes, activated DCs release chemokines, a chemical which triggers precursor cells (monocytes) to leave the blood stream and become their replacement as DCs in (Sompayrac, 2003). These new DCs are then able to be activated and make their way to the lymph node which amplifies the response to the invasion. The new recruits of DCs are like photojournalists, the antigenic peptide which they carry to the lymph node being a snapshot of the infection site (Sompayrac, 2003). This is useful so if there are changes in the area, the appropriate T cell can be activated and thus elicit the immune response most suitable. If the infection is mild, there will be fewer c ytokines produced, less DCs activated, fewer chemokines released, fewer replacements of DCs therefore the number of DCs that make their way to the lymph node will also be significantly less. Consequently the number of B and T cells that becomes activated in the lymph nodes relies greatly on the number of DCs present. As detailed above DCs play a role in the activation of macrophages. Macrophages are one of the early defences against invaders that initiate the cell mediated immune response (Schindler, 1991). Macrophages are very weak at presenting antigens as they only possess enough MHC molecules and co-stimulatory proteins when activated by battle cytokines e.g. IFN ÃŽ ³ (DeFranco et al, 2007). Macrophages function in the re-stimulation of experienced T cells so they continue to partake in the fight against the pathogen (Male, 2004). They engulf pathogens that have invaded the tissues, process it using internal enzymes and present the peptides on MHC class II molecules. This continual display of antigens is recognised by Th cells which continue to complete their function. Next the activated macrophage releases cytokines are previously mention that act on the DC i.e. TNF ÃŽ ±. Other cytokines released includes IL-1 and IL-8. IL-1 aids in the activation of B and T cells (Schindler, 1991). B cells are the third professional APC. At the start of an infection B cells are naà ¯ve so do not play a definitive role. However throughout the course of the infection B cells become activated. Some B-cells are specific to T-independent antigen so only require binding of its receptor (BCR) to a cognate antigen for activation (Sherwood 2009). Other B-cells are specific to T-dependent antigen so after processing the antigen and displaying it on MHC class II molecules, binding of a Th cell is required for their activation. The MHC class II complex interacts with the TCR on the CD4+ Th cell which recognise the specific antigen on the B cell. Next the helpers release a chemical known as interleukin triggering the activation of the B cell. Activated B cells go through rapid proliferation and differentiation into memory cells and antibody producing plasma cells (Sherwood, 2009). B cells have the advantage of presenting the antigen very quickly so makes the immune response more efficient. The development of two different pathways of antigen presentation i.e. via MHC class I and II molecules can be rationalised in that each ultimately helps to elicit the most appropriate immune response through stimulation of the T cell the population most effective in eliminating the pathogen in question. MHC class I APCs allows for the monitoring of all body cells through Tc cells whilst MHC class II APCs seek the help of Th cells and B cells which directs the immune response in a way that corresponds to the seriousness an infection. Through these functions, APCs ultimately helps to maintain health and life. Should Teens Be Allowed Internet Access? Should Teens Be Allowed Internet Access? The internet is a large market with practically everything available in it. It is a massive network of computers worldwide connected by cables and satellites. Most of the time, it is just referred to as The Net or the World Wide Web (www). The internet today is used for multiple tasks such as receiving email, communicating with people from all around the world, receive text, images, video and sound. It is a very helpful tool for getting any information needed. This is because it has people from all around the globe posting information onto the internet for the use of everybody who access the internet which is a public accessible feather for millions of people nationwide. (Young Media Australia 2008, What is the internet?) However, the internet nowadays is too widely used by tweens and is becoming an issue among our society. This is caused by different factors that may be dangerous to them. This study is to investigate whether it is advisable for tweens to be allowed internet access. We may wonder who exactly are tweens? To be exact, they are individuals who are no longer children anymore yet not a teenager. This means they would fall in the age group of between 11 13 years old. People are doubtful about giving them internet access because they may not be mature enough to differentiate what is good or bad and this may cause them to be susceptible to internet danger. Internet danger is generally caused by people who are not taught with moral ethics and try to inflict damage onto tweens. Advantages of the internet for tweens Offers a wide spectrum of information The internet is a virtual treasure chest full of valuable information. It has a huge amount of publications added everyday and is slowly evolving as one of the greatest source of information. Any form of information from A to Z can nowadays be so easily obtained just by a few clicks on the computer and tons of information show on the screen. Also, with the help of search engines on the internet, the work of hunting for information or data is minimized. Since the internet provides so much of information, it is a great source of reference for students who does research work or even just to look for information which cannot be obtained in school. Through the internet, forums can be accessed and through forums, people are able to trade information and share opinions with each other. (The Advantages Disadvantages Of The Internet n.d.) Communication with the world There are plenty of chat rooms that can be used on the internet such as Live Messenger, Yahoo Messenger, Skype and so on. These chat rooms allow worldwide communication to be possible. As long as computers are connected to the internet, anybody from any part of the world can communicate online. It is very convenient for family members who are apart to communicate with each other instantaneously without the need of using email or snail mail. (The Advantages Disadvantages Of The Internet n.d.) Saves times in completing tasks Before internet existed, there were many tasks that took a lot of time to complete. Now with the help of internet in the modern society, the time used to complete these tasks is reduced by an uncanny amount. One example would be students using the internet to communicate with teachers online. Students who are slacking in studies may have extra classes with teachers through communication programs. This greatly reduces students time needed to revise on their own and yet not fully comprehend the subject. Also, assignments done can be sent to teachers via the computer with the use of email. Educational games programs Games nowadays intrigue tweens and play a big role in their lives. Computer games are constantly being played by tweens from all around the world and the internet has a huge load of these games. Specifically, educational games are the games that have positive effect on tweens. These games can provide practice in problem solving and logic and also provide practice in use of fine motor and spatial skills. Furthermore, some of the educational games require two players or more so this allows parents to occasionally play together with the child and have some family bonding. These games being fun activities help to relieve stress and help keep the mind fresh. (Effects Of Video Game Playing On Children 2009) Risks disadvantages tweens might face However good the internet might appear to be and have many advantages upon tweens, the ugly side of internet should also be reviewed carefully to actually determine whether the internet is more harmful than helpful to tweens. Access to inappropriate content or information The internet being the treasure chest to all information, it also contains negative contents such as pornography and violence. Tweens who accidentally access to pornography may see images that would scar them for life and may potentially cause problems in their future life as these images may surface without warning. It is always internet pornography that is the first exposure to tweens of these sexual images and the images they see causes their brain to play mind tricks on them. This causes human intimacy to be planted into them as something twisted and perverted and this implantation is irreversible. Ultimately, this may lead to sexual deviancy and crime, which in turn affects their future relationships and marriages. (Children as Victims n.d.) Violence also can make a huge impact on tweens. Tweens who are exposed to violence would generally be more hot-tempered and are very likely to have antisocial behavior such as threatening aggression and assault. This is because they are brainwashed into the world of violence and cannot distinguish between fantasy and reality. They may think that violence is the only way to settle problems and that being violent shows charisma and looks macho-like. (Children And Media Violence 2009) Chance to come across internet predators An internet predator is usually an adult who exploits vulnerable children or tweens for sexual or abusive purposes, or also known as paedophiles. These people try to do these out of the norm things to satisfy their personal fetish. They would try to use the internet as a way of getting in contact with tweens and try to coax them to meet up. At this point, these tweens who are not under adult supervision may not be mature enough to think that this is potential danger and would simply just agree to meeting with this anonymous person. This would allow tweens to be vulnerable to these internet predators to carry out their dirty activities. In some reported cases, these paedophiles have raped and killed innocent children. (What are the risks involved with my child using the internet n.d.) Become victims of cyber bullying Cyber bullying is quite common nowadays in the virtual world. What exactly does cyber bullying mean? It basically is any form of harassment that occurs via the internet. Posting fake videos on web sites, leaving mean and evil emails towards somebody are forms of cyber bullying. Tweens who are cyber bullied would feel very depressed and overwhelmed as they do not know who these people are who cyber bully them. These helpless victims would usually suffer quietly and be mentally imbalanced because they usually dont tell an adult about this issue and just keep it to themselves. (What is Cyberbullying? n.d.) Be subjected to invasion of privacy, unsolicited advertising financial risks There are plenty of commercial websites on the internet that may invade privacy by requesting for personal information. Tweens may be encouraged to complete questionnaires and enter competitions that lead to the divulgence of personal information or incur unforeseen costs. Also, some sites have advertisements that encourage tweens to acquire products which are costly and unnecessary for them. (What are the risks involved with my child using the internet n.d.) Addiction to the internet It is very easy for tweens to get addicted to the internet because it is so interactive. With all the contents available on the internet, tweens would opt to sit in front of a computer all day and this would cause them not to have time to finish assignments or work and decrease the time for socializing with people in person. This usually also causes tweens to be less healthy as they would lack the exercise needed for their body. (What are the risks involved with my child using the internet n.d.) Conclusion To look at the whole argument in an unbiased way, a comparison has to be made between the advantages and disadvantages of the internet. It may appear that it is not advisable for tweens to be allowed internet access because of all the negative effects it may cause. However, from a survey carried out, majority of the people agree that tweens should be given internet access and that the advantages outweigh the disadvantages of the internet. These negative effects are avoidable and it basically comes down to the way tweens use the internet and how much they understand about the internet. These problems may be avoided if they are guided along the way by an adult because an adult is able to differentiate whats good and whats not on the internet and teach tweens how to avoid these sites on the internet. Most of the tweens who suffer from internet disadvantages are those who are ignorant and are not taught well on how to utilize internet as a powerful tool. (1615 words)