Financial Reporting Coursework Example | Topics and Well Written Essays - 1500 words

Financial Reporting - Coursework Example Due to this increase in performance of the financial statements of the company, the earnings per share increased as well as the dividend payout ratios went up with a coverage of 2.8 times for the full year, which is the shareholder’s interest in the organization. As compared with the market ratios from IHG company, Next company shown a growth in all its financial aspects. The accounts have been presented in accordance with the IFRS 7 and 12 which requires disclosure of interest in other parties IFRS 10 which requires consolidating the group accounts and IAS 1 to 9 which talks of all the disclosures. The disclosures of the segments are contained in IAS 14 but superseded by IFRS 8 which requires every segment to be disclosed separately (Weygandt 2012). Since the exceptional items are material in nature, the materiality concept applies and that is the reason why they are disclosed separately since they are matters which might have an impact on the financial statements. They are d ivided into continued and discontinued exceptional items. Ratio Analysis: Liquidity Ratios This is a ratio that measures the firm’s ability to meet its obligations financially. Historically these ratios have been used to measure the overall health of organizations. Their usefulness is being diluted as the modern companies Next PLC are holding fewer current assets to generate revenue. However, these ratios remain a good measure in this industry because the hotel industry relies on huge amounts of current assets to generate income. The meaning of these ratios is measured based on the relevant industry norms (Clatworthy 2005). Current Ratio Current Ratio = Total Current Assets Total Current Liabilities Account 2013 2012 Increase/Decrease Total Current Assets 1,207.8 1,139.9 Total Current Liabilities 816.0 742.4 Current Ratio 1.48 1.53 -0.05 From the above analysis, Next PLC is a company which can meet its short term obligations in both year 2013 and year 2012, however at a close r look, it shows that it has decreased its ability to meet these short term obligations in the year 2013 which is a fall back from the previous period. A further identification is that the group has disposed a lot of its current assets and also paid more of its obligations in terms of liabilities. In further analyzing the cash position of the group in the cash flow statement, the group has covered more of its expenses on the revolving cash flows from operations, which is a healthy indication of the organization's ability to operate in the foreseeable future (Gibson 2012). Quick Ratio Quick Ratio = Cash and Equivalents - Inventory Total Current Liabilities Account 2013 2012 Total Current Assets 1,207.8 1,139.9 Inventory 331.8 371.9 Total 876 768 Total Current Liabilities 816.0 742.4 Current Ratio 1.072 1.034 This ratio is more accurate than the current ratio since it reveals how the company can meet its short term liabilities without having to dispose its stock. And in this case of s tudy, the company still remains stable and even better since the stock levels are low and that means the company can meet its short term financial obligations with ease. In year 2013, it indicates that the company did better than year 2012 just like the previous ratio. Any ratio that is positive means that the company can meet its obligations and any figure that is negative means that th

Three Bases for Government Essay Example for Free

Three Bases for Government Essay In government, the Lao-tzu says, it is important that â€Å"the people be kept constantly without knowledge and without desires† (Blythe 1992). Not to be misconstrued as a kind of political technique designed to manipulate or coerce, this means that they be allowed â€Å"to safeguard their true nature.† Government must in the final analysis abide by naturalness and nonaction. The sage ruler naturally never puts himself first or claims credit for his accomplishments. Consequently, the people are not aware that he has brought order and well-being to the world, assuming that the good fortune they enjoy has come about spontaneously. Ultimately the ruler himself must embrace nonaction so as to establish a model to transform the people that is, to enable those under the spell of desires to reclaim their true nature. Specific policies or techniques of government are secondary and must be â€Å"forgotten† if nonaction were to be realized. Government by nonaction is not â€Å"mysterious,† however. It does not involve mystical or esoteric practices, but rests on the claim that the transforming power of Tao, defined in terms of naturalness and exemplified by the ideal sage-ruler, would spontaneously permeate the mind and heart of the people. There is perhaps a degree of optimism to this view, but one which to Wang Pi is well justified. This is because the all-encompassing order of tzu-jan extends to the sociopolitical level. The institution of family and state is not extrinsic to nature. More specifically, the hierarchical structure of sociopolitical institutions reflects the principles governing the Taoist world. This explains Lao-tzus claim that Taoist self-cultivation, which Wang Pi again relates to realizing ones true nature, has a direct impact on the well-being of the family and the country (Blythe 1992). In this light, such concepts as nonaction, quietude acquire a more concrete meaning. In the Ho-shang Kung commentary, these concepts are subsumed under the rubric of â€Å"securing the One† (shou-i). In the Lao-tzu itself, the expression â€Å"embrace the One† (pao-i) is used twice; but Ho-shang Kung prefers the word shou to emphasize the importance of â€Å"securing† what has been â€Å"embraced.† In other words, ideal government, both politically and with respect to the interior life, depends on the rulers ability to acquire and to maintain the â€Å"One,† and to guard against harmful influences. For the ideal but practical, new democratic state, Jefferson coined the word sociocracy. Jefferson’s ideal government is neither individualistic nor collectivist. It consists of a dictatorship of three wise men who represent the technological, the temporal, and the spiritual spheres. Final veto rests in the spiritual officer in whom alone are found wisdom, philosophy, and moral ends. The temporal power, however, acts according to the laws of nature expressed through the social forces, and is guided in all things by social science. Jefferson was fundamentally right in believing that unless sociologists controlled the state, the social problem would never be solved. The first step toward the ideal government, therefore, was to indicate just what the social sciences are, and what they have to contribute to the knowledge of human problems and social progress. Jefferson insisted that the present order is the result of defective knowledge, neglect of moral teaching, and of anarchical habits of egoistic living. To erect the ideal state, the temple of humanity, there must be a consensus of organized philosophy, reformed morality, and permanent nonsupernatural religion. Capital must be moralized, the marriage institution renovated, and every other institution spiritualized by the awakening of the sympathetic instincts enlisted in the service of humanity. To lead and control the positive state, Jefferson offered his philosophy of science which is a scheme of education, a method of government, a school of wisdom, and a form of religion— in brief, a synthesis of mind, feeling and action, crowned by the religion of humanity. Carter also defended his ideal government on the grounds of economic and ethical principles which are closely associated with ach other and with the political principles which formed the basis of the ideal government. His aim was to achieve political and social solidarity through an economic but ethical revolution which would make the introduction of the new order possible and which would sustain and reinforce it after it had been established. The underlying principles of his state are, therefore, as tightly interwoven and as interactive as his aims and this was as it should have been, for Carter regarded society as an organism of the whole-and it was for the achievement of a unified, harmonious whole that he sought a solution. Because of the doctrine of evolution, Carter believed that man could not be considered as an individual apart from his surroundings, for he was born into an environment from whose effects there could be no escape. The problem, therefore, was to adjust mans conduct to the social organism, the whole, of which he was a part or to adjust the social organism so that it would further right conduct and the achievement of action that would be for the good of the whole. Ethics, therefore, became a sociological search â€Å"for right conduct† which was to be defined as the â€Å"stable adjustment of the part to the whole† (Blythe 1992).    References Blythe, J. M. 1992. Ideal Government and the Mixed Constitution. Princeton, N.J.: Princeton University Press.

Foster Parents And Solution Focused Brief Therapy Social Work Essay

Foster Parents And Solution Focused Brief Therapy Social Work Essay Abstract Approximately sixty percent of children living in therapeutic foster care, enter the system with a diagnosis of moderate to severe mental health issues. These children, placed in therapeutic foster homes, can present disruptive behaviors. Maladaptive coping skills on the part of the child or stress inducing behaviors on the part of the caregiver can cause a crises leading to potential removal from the home. Solution focused brief therapy, could increase the quality of the relationship between foster parent and child. Foster children and parents can have a disparity between the perception of a situation and improper communication of opposing views may lead to crisis. Using tools and tenants of solution focused brief therapy could decrease placement disruptions. The purpose of this article is to identify common issues and challenges facing foster parents and children, and examples of interventions using solution based therapy. The strength-based interventions, coupled with the current evidenced-based training, will decrease placement disruptions, and increase the potential of successful transitions from foster care. The article will discuss current evidenced-based interventions, and solution focused therapy as an additional therapeutic approach. In this article, common issues and challenges facing foster parents and children are discussed; and strengths and limitations of implementing solution focused therapy techniques are explored. Keywords: Therapeutic Foster Care, Foster Parents, Foster Children, Solution Focused Brief Therapy, Training Foster Parents and Solution Focused Brief Therapy: An estimated 541,000 children in America live in the foster care system today (U.S. Department of Health and Human Services, 2010). Residential treatment facilities, psychiatric group homes, and foster/ kinship care comprise most of these out of home placements. Therapeutic Foster Care, (TFC) is an additional type of out of home placement and is a specialized service designed to serve children with special needs (Berika, 1999). These special needs range from emotional, cognitive, and physical/medical and can serve as a step down between a residential treatment center and foster care (Strijker, Oijen, Dickscheit, 2010). Each specific type of out of home placement offers differences in the goals and functions of foster care and therapeutic foster care are numerous. Maltreated children are placed in foster care primarily to receive protection, and stability. If the child exhibits the need for mental health or substance abuse therapy, the service is provided outside of the home (Farmer, Mustillo, Burns, Holden, 2008). Transitioning statement from fc 2 tfc (on the other hand ) Therapeutic foster care combines the structure of a residential treatment facility with the care and protection of the home environment. Fifty nine percent of children entering therapeutic foster care address serious levels of emotional behavioral issues; and need rehabilitation (Hochstadt, Jaudes, Zimo, Schacter, 1987). Therapeutic interventions take place within the home, with the goal of integrating newly acquired interpersonal skills into the home environment, which are necessary for future family reunification. Multiple reasons exist facilitating the need to place a child outside of the home for treatment. High-risk family factors include poverty, divorce within the immediate family, (Williams at all, 1990), biological parental mental illness, witnessing domestic violence, and prior incarcerations within the immediate family (Johnson, 1989). The inability or unwillingness of the primary caregiver to care for the child is additional reasons for biological parental rights termination (Pecora, White, Jackson, Wiggins, 2009). Alternatively, the child may have been removed from the home due to neglect or poor parenting. Substance abuse by the biological parents, or even the young person themselves, are additional factors in the decision to remove the child from the biological home. Thus, due to numerous reasons, the youth may have difficulty acclimating to new living situations. Children placed in therapeutic foster care tend to exhibit poor coping skills, low frustration tolerance, and externalizing disorders such as Oppositional Defiant Disorder, Conduct Disorder, Attention Deficit Hyperactivity Disorder (Fiegelman Harrington, 1993). The behaviors that accompany such externalizing disorders may cause foster parents to experience empathy fatigue (Lipscome, Moyers, Farmer, 2004). Empathy fatigue is a leading cause for which a foster parent decides to surrender the foster child (Parker, 2009). This is known as a placement disruption or the childs unscheduled removal from the foster home permanently. Numerous publications report findings, that placement disruption has a detrimental effect on foster children. The American Academy of Pediatrics reported placement disruption, Hinders the development and healing process of children (American Academy of pediatrics 2000). Placement disruption jeopardizes the opportunity for children to develop trusting and secure relationships with adults (Robertson, 1989). The act of separating a child from biological families induces feelings of rejection, guilt, abandonment, and shame, (Garland et al., 2000, Simm at el 2000) regardless of the reason. Multiple placements before the age of 14 are associated with higher rates of delinquency in youths. Recent studies show a relationship between foster child placement disruption and the increase of foster care alumni homelessness, incarceration, and victimization. (Courtney, Dworsky, Lee, Raap, 2009). According to the Midwest Evaluation of Adult Functioning of Former Foster Youth, Far too many foster youth are not acquiring the life skills or developing the interpersonal connections they need if they are to become productive young adults (Midwest Evaluation of Adult Functioning of Former Foster Youth, 2010). Foster parents are to provide a safe and nurturing home, which will instill interpersonal communication and effective life skills to youth. The establishment of the connection between the foster parent and the foster child needs is critical due to beliefs that foster parents would benefit from the use of solution focused based therapeutic techniques with the foster child as these techniques provide____________________________________. Multiple training programs have attempted to incorporate these skills within the juveniles daily routine (Price, Chamberlain, Landsverk, Reid, Leve, Laurent, 2008). LIST PREVIOUS MODLES Multidimensional Treatment Foster Care is a strengths-based intervention promoting child and adolescent resiliency in youth exposed to early adversity. Application of MTFC within a treatment foster care home employs a point and level privilege system. Multiple studies show the effectiveness of using a reward level program (Fisher Chamberlain Leve 2009). A second intervention model, which is a modified version of the multidimensional treatment foster care intervention designed for younger children is called keeping foster parents trained and supported (Price, Chamberlain, Landsverk Reid, 2009). Other models of worth mentioning. When a child faces the instability of placement disruption, they do not have a consistent environment where they feel safe to mature; instead, they must re-adapt the new living situation. We suggest following the tenants and techniques of solution focused brief therapy in addition to the aforementioned foster parent training will increase placement stability. Training the foster parents in solution focused therapy techniques we believe they will assist the youth in becoming solution oriented. This new set of skills taught to the child, by the foster parent has the potential to increase the foster childs quality of life by decreasing placement disruptions. Solution focused therapy lends itself well as an additional element training of foster parents. Through a question and answer conversation, it enables the foster parent to see the perspective of a given situation through the eyes of the child. Solution focused brief therapy is strengths-based and future oriented, while still validating the persons experience (Littrell, 2006). Major tenants of this theory are (a.) change is constant (b.) there is always an exception to the problem (c.) there are many ways of looking at a situation, all equally important (Bannink, 2006/2010). It brings small successes to the child or foster parents awareness, and assists them in becoming solution oriented. This article will discuss several solutions focused based therapy techniques with examples of their application. Scaling questions, including what identifies and increase or decrease of one point and the application will be discussed. Coping questions, which illuminates the caregivers and foster childs strengths, will be investigated. The use of language tool statements, such as You must have had a reason to, will be explored. The identification of the childs resources both internal and external will also be examined with examples illustrating the application. The implementation of solution-focused therapy to increase foster care placement stability has been used in residential therapeutic treatment facilities. In a recent study it was found during the first year of treatment, the youth were counseled using the techniques of Cognitive behavioral therapy. In the second year they were counseled using solution focused brief therapy. It was discovered, the number of disruptions from these youth decreased from mean equaling 6.29 (standard deviation equaling 3.6) to mean equals 1.45 (standard deviation .68), P In this article, we will discuss various emotional health rehabilitation needs of foster children referred to therapeutic foster care. A concise exploration of current evidence-based therapeutic foster parent training models highlighting their strengths and weaknesses will take place. The core tenants of solution focused brief therapy will be explored with the intent purpose of identifying specific interventions for use with this population. Furthermore, examples of the preferred intervention techniques of solution focused brief therapy will be provided. Finally, the strengths and limitations of using solution focused brief therapy with this population will be discussed with suggestions for further research. I. Socioeconomic ramifications of child maltreatment. Neglecting the therapeutic foster care populations has a debilitating effect on the economy. Homelessness (check tense and safe assign) In studies focused on homelessness in adulthood, placement in foster care in childhood or adolescence frequently emerges as a risk factor. {{57 Fowler,P.J. 2009;}} For example a study conducted by the Casey Institute showed within a two year period shows homelessness for foster alumni exceeded 12.%, which is the rate for a single episode of homelessness amid US adults. One fifth of the adolescents taking part in the study experienced chronic homelessness. {{86 Anonymous ;}} Homelessness in adolescence and young adulthood has been shown to be associated with elevated risks of a number of negative outcomes. {{57 Fowler,P.J. 2009;}} These services need to begin earlier, to be extended to all eligible children in foster care, and to remain available until former foster care youth have attained stability as young adults (Kushel et al., 2007; Pecora et al., 2006). Research findings indicate that services need to begin early when a family first arrives at a shelter or the child first enters foster care, particularly since early intervention for young children can reduce the magnitude of trauma and subsequent problems later in life {{80 Dozier M Higley E Albus, K Nutter A. (2002);}} Housing instability was related to emotional and behavioral problems, physical and sexual victimization, criminal conviction, and high school dropout. From this information Fowler concluded adolescents transitioning from foster care are at considerably higher risk of homelessness {{57 Fowler,P.J. 2009;}} A.1 Maltreatment leading to out of home placement Sixty four percent of cases involved in the child welfare system are due to parental neglect. Failure to attend to the childs physical, emotional, or educational needs may cause severe, long term psychological challenges. Domestic violence in the childs presence; familial substance use that interferes with parenting abilities, Physical abuse (16%), sexual abuse (9%), and psychological maltreatment (7%) are other reasons children are reported to child welfare.({{72 Leve, L.D. 2009;}} b. Needs of Those in Therapeutic Foster Care Characteristics of Those in Foster Care Social and Academic Health Children involved in the foster care system are at a higher risk of low academic performance and school failure. Children facing challenges, usually present with psychosocial problems at a substantially increased rate than the general population. These range from impulse control, to Attention deficit hyperactivity disorder, to conduct disorders which maturate during young adult hood and beyond. Children who fail to develop successful peer relations during school entry are at increased risk for conduct problems, peer rejection, and academic failure throughout childhood and adolescence {{91 Anonymous 2001;24 Egelund, Tine 2009;}} emotional and behavioral problems, exposure to physical and sexual abuse, adolescent pregnancy, incarceration and high school dropout. {{57 Fowler,P.J. 2009;}} A preponderance of children in the welfare system have been identified as experiencing cognitive delays as evidenced by the Denver Developmental Screening Test II {{91 Anonymous 2001;}}. This is the most widely used psychometric test utilized for this young population. Early behavior problems among children placed in foster care have predicted delinquency, substance use, and sexual behavior 6 years later {{62 Linares,L.O. 2006}} Medical and Physical health The gravity and extent of the health care problems facing abused and neglected children are truly alarming.   Specified underlying neurobiological systems are influenced by types of adversity witnessed by children in the system increase risk for negative outcomes. These include common childhood diagnosis are at uncommon levels such as ADHD, disruptive behavior, anxiety, and affective disorders.{{72 Leve,L.D. 2009}} Studies observed increased shifts in the hypothalamic-pituitary-adrenal HPA Axis, a hormone affected by cortisol imbalances. This hormone controls reactions to stress and has been discovered among children experiencing stress in foster care. Increased atypical diurnal cortisol levels{{74 Pears, K.C. 2008;}} are known to be higher especially among young female children who have experienced biological caregiver neglect {{70 Fisher,P.A. 2007;}}. Similar to the HPA axis studies, problems with executive functioning are more common in foster children than in the general population {{74 Pears, K.C. 2008;}}. However therapeutic interventions designed for foster children may positively affect the HPA axis activity as it has been noted decreasing stress decreases the levels of cortisol{{70 Fisher,P.A. 2007;}}. (More research needs done) Fisher Suggests interventions which decrease stress levels of younger juveniles in out of home placements may produce increased outcomes on the social cognitive level and increase the functioning of an neurobiological systems. {{95 Fisher,P.A. 2008;}}{{72 Leve,L.D. 2009}} d. REHABILITATION NEEDS OF CHILDREN IN FOSTER CARE: EVIDENCE-BASED INTERVENTIONS Evidence-based interventions were formed and assessed to supervise the psychological and physical welfare of children in foster care. Stress inducing behavior on the part of the parent can cause disruptive behavior in the foster child which leads to early termination from the home. Maladaptive coping skills of the child that havent been rectified affect the childs relationship with their caregiver and over time start to give negative connotations to authority figures. Implementing the interventions has shown a decrease in the need for extraneous mental and physical health care by increasing the probability of attaining placement stability. Interventions must target young people while they are still in foster care, before the age of 17 years, to ensure connection to services such as tuition assistance, employment training, and health insurance. {{57 Fowler,P.J. 2009;}} Models MTFC The MTFC model acknowledges and identifies the affect of emotional hardships on the physical and psychological missing word of the foster care population. It originated in 1983 in response to an Oregon State request for proposals from the juvenile justice system to develop community-based alternatives to incarceration for adolescent placements in residential/group care. (Leve,2009) This model gives an evidence based solution to strengthen the self-esteem of the foster children and teach them resiliency to improve behavioral problems. Additionally, consistent with research on resiliency, the model now incorporates key positive individual and interpersonal relationships, adaptive neurobiological functioning, and adaptive social behavior. (Leve, 2009) How it works The MTFC intervention teaches caregivers how to give positive mentoring, improve parental skills and the importance of consistency through training, supervision and the endorsement of a skills coach. MTFC was selected by the Office of Juvenile Justice and Delinquency Prevention (Elliott, 1998) as 1 of 10 evidence-based National Blueprints Programs; was selected as 1 of 9 National Exemplary Safe, Disciplined, and Drug-Free Schools model programs; was highlighted in 2 U.S. Surgeon General reports (U.S. Department of Health and Human Services, 2000a, 2000b) (Leve,2009) These reports recorded government savings, showed improvement of behavior in child, and helped stress level of caregiver. State Public Policy group reported a $32,915 cost savings in 2006 to taxpayers for each (Leve,2009) In order for the intervention to be effective, the foster child needs positive reinforcement, individual and family therapy, along with social skills and academic mentoring. The team The skills coach is conditioned to focus on beneficial skills and actions rather than past behaviors or problematic situations. The foster parents and program supervisor work together to carefully monitor youth adjustment in the classroom. (Leve,2009) Classroom observations and evaluations allow the caregiver to evaluate behavioral changes without excessive amounts of external influences in a neutral setting. These caregivers are taught to use the same incentives or point systems employed in the foster home to provide positive feedback and brief, non-emotional consequences for problem behavior. (Leve,2009)The consistency from one environment to another eases the transition process for the foster child. Positive outcomes, including the likelihood of achieving permanency ( this effect is particularly marked for children who have had multiple prior foster placement failures), childrens attachment to caregivers, foster-parent stress levels, older childrens delinquency and antisocial beha vior, participation in school and subsequent time incarcerated. (Fisher P.A. 2009)

Teacher-Student Relationships Essay -- essays papers

Teacher-Student Relationships First and foremost, teachers should focus on their relationship with the students, because without that bond, there is little chance of managing the classroom efficiently. Students should be aware that the teacher wants them to be successful both in and out of the classroom (Backes & Ellis, 2003). The best way for teachers to show students this desire is to exhibit a personal interest in all aspects of the students’ lives (R.J. Marzano, J.S. Marzano, & Pickering, 2003). A personal interest can be revealed by a variety of simple tasks including cheerfully greeting students in the hallway (Backes & Ellis, 2003), talking informally with students before and after class, attending various extracurricular activities and acknowledging the students’ participation and achievements in those activities, and saying hello to students in places outside of school such as the mall (R.J. Marzano, Pickering et al., 2003). Students’ lives and emotions outside of the classroom s hould be valued by teachers, because students are more likely to respect themselves and their classmates when they believe that their feelings are respected and cared about by teachers (Wessler, 2003). Essentially, students, â€Å"like all of us, respond better to correction – even ultimatums – from someone they know and respect† (Mathews, 2000). Once teachers have established a bond with their students, it will be easier for them to create an inviting and comprehensive classroom environment. When teachers have good relationships with their students, they learn more about the students as individuals, and thus become more aware of the student’s interests, needs, and family background. Teachers can use this information to make sure that ever... ...rch/EBSCO Database. Churchward, B. (2003). Discipline by design. Retrieved November 9, 2004 from http://www.honorlevel.com/x47.xml Education World, Inc. (2004). Responsive classroom strategies. Retrieved September 27, 2004, from http://www.educationworld.com/a_curr/columnists/charney/charney003b.shtml Glencoe/McGraw-Hill. (2004). Classroom management. Retrieved September 27, 2004, from http://www.glencoe.com/sec/teachingtoday/tiparchive.phtml/4 Pearson Education, Inc. (2004). Classroom management. Retrieved November 3, 2004, from http://www.teachervision.fen.com/page/5776.html Hafner, K. (2004, April 29). In class, the audience weighs in. The New York Times, p. G1. Mathews, J. (2000, December 19). On good authority; Maintaining discipline is key to students’ success, but new teachers rarely learn classroom management. The Washington Post, p. A19.

Linear Technology Essay

1. Describe Linear Technologies payout policy. Linear Technology announced its first dividend on October 13, 1992 in order to portray Linear Technology as a less risky firm than other technology companies that did not pay dividends and to gain access to new investors interested in earning income in addition to investing in growth. Linear Technology initially planned to begin with a relatively low dividend of $0.05 per share which amounted to a 15% earnings payout ratio – mindful of the fact that investors abhorred firms that reduced or stopped their dividend payment schedule. Beginning more conservatively than their original estimates, Linear Technology began with a $0.00625 dividend per share. Linear Technology has steadily increased it’s dividend per share increasing the payout approximately every four quarters by $0.00125. This pattern was maintained from Q2 1993 to Q3 2000. Beginning in Q4 2000, Linear Technology began increasing its dividend per share by a new pattern of $0.01 increases per four quarters. The current dividend per share is $0.05 during Q3 2003. Its current dividend yield of 1% is relatively higher than the average dividend yield rate for Information Technology firms in the S&P 500, around 0.3%. 2. What are Linear’s financing needs? Should Linear return cash to tis shareholders? What are the tax consequences of keeping cash inside the firm? Linear Technology’s financing needs are to optimize its cash flow, investments, and cash balances in order to maximize its shareholder values. Linear’s cash balance in March 2003 stood at around $1.5 billion, which was being conservatively invested in short-term debt securities. The cash flow from these investments, the interest income, was around $52 million. Due to the tax cuts implemented by the Bush administration, the tax rate on dividends and capital gains were greatly reduced. The dividend tax rate dropped from an approximate 38% and the capital gains tax dropped from an approximate 20%. More important that the magnitude of the tax cuts, however, is that the capital gains tax was equalized with the dividends tax. When the dividends tax is higher than the capital gains tax, the optimal dividend  policy is to pay no dividends. In this situation, the firm will use share repurchases instead in order to take advantage of tax savings. Before the tax cuts, the firm has less incentive to raise funds for dividend payouts due to the higher tax rate on dividends and the negative effect on shareholders. However, with the equalized tax rate of 15%, the firm is no longer discouraged from raising dividends. 3. IF Linear were to pay out its entire cash balance as a special dividend, what would be the effect on value? On the share price? On earnings? On earnings per share? What if Linear repurchased shares instead? Assume a 3% rate of interest. 4. Why do firms pay dividends? Why has the rate of dividend initiations changed over time? Firms pay dividends for several reasons despite the MM proposition that characterizes dividend policy as irrelevant. One main reason for dividend policy is based on the manager’s belief that investors prefer stable dividends with sustained growth. This kind of dividend signals to the investor the firm has reached a steady state growth i.e. a mature market position. A company usually only begins to consider releasing dividends once it has established regular and predictable operations cash flows. However, dividends can also act as a negative signal telling investors that the firm’s growth rate is slowing. Increasing the dividend can, on one hand, signal the manager’s perspective for future growth and optimism over future cash flows; on the other hand, increasing the dividend can also signal a lack of investment opportunities. The use of dividend payouts has steadily decreased over the last 30 years. This trend is in part related to the changes in dividend tax rate , however, I believe the majority of this trend or trends can be attributed to changes in investor preferences. The dividend payout decision is ultimately chosen by a manager, whose main objective is to satisfy shareholder preferences.

event planner Essay Example

event planner Essay Example event planner Essay event planner Essay Event Planning To start with an event planner is a person whose profession is the planning of social events, as parties and fundraisers. To be an event planner you need to have patience because not everything you do will turn out the way you want it to. If you want to have a successful event, brainstorming is the key. To be an event planner you need to have developed some of the following skills; verbal and written communications, organization and time management, project anagement and multi-tasking, self-starter and team player, understand Microsoft office applications, detail and deadline-oriented, calm and personable under pressure, negotiation, budget management, staff management, marketing and public relations, and interpersonal skills with all levels of management. Also event planners will develop the following knowledge; Venue selection, catering, production, entertainment, gifts, transportation, lodging, and conference services. Those who chose to be an event planner as a career usually have a bachelors egree in hospitality management, public relations, marketing, or business administration. Also, sometimes event planners come through administrative roles that include planning responsibilities. There are many types of planners; there are wedding planners, sport events, corporate events etc. To plan an event having a guideline is very important. You need to have an overview of what your event is going to consist of, you need steps. The first step is determining the purpose of the event, who and what is it for. Second is assess resources, having to know who youre working with before planning. Third is determining the needs and interests. Who will be coming to the event, what type of people are they, what are their interests? Fourth is brain storm ideas, list all suggestions review every idea. Fifth is develop a timeline, make a list of tasks that needs to be done then make a schedule that shows when every task and how it should be completed. Sixth is reserve space, this is needed to be in advance, as early s possible because there are always events going on and space is always an issue. Seventh is develop a budget, you have to set a amount to spend on the event and even having ticket sales to cover for the event. You might need speakers, performers, volunteers, or hire staff members to help provide safety for the event. Ninth are details, complete and confirm all the details concerning the event. The last step in the event itself, whatever the case maybe have fun planning and hosting the event, let the hard work show off. event planner By ringram9121