Wednesday, July 29, 2020

Tuition Fees Revealed Average Fees Above £8700

Tuition Fees Revealed Average Fees Above £8700 The OE Blog With the arrival of the Office for Fair Access deadline for the submission of tuition fees, it is finally possible to see a clear overview of the fees situation across English universities. Whilst some wrangling continues over exact estimates and averages, and alterations may be made in accordance with OFFA demands in July, the dust has finally settled and some definite conclusions can finally be drawn. Government Miscalculations The Times Higher Education magazine has worked out from the tuition fees declared so far that the average cost of an undergraduate degree will be £8723.33 per year from 2012, far higher than the government’s estimated £7500, on which plans for financing student loans have been based. Many universities fear that this may result in a “black hole” in state higher education funding, forcing ministers to make still more cuts to university budgets further down the line. Filling The Void Many protesters have asked how on earth the government could have made such a huge mistake in their miscalculations, as universities have clearly shown that charging a minimum of £8000 tuition fees is required simply to replace funds lost through state cuts to their teaching budgets. The further £1000 is necessary to comply with the mandatory extra OFFA access arrangements for those charging fees above £6000. Far from being greedy or profiteering, as panicking ministers have at times attempted to imply, universities are in fact merely trying to keep their budgets on an even keel. “Exceptional Circumstances” Deputy Prime Minister Nick Clegg and Universities Minister David Willetts have come under particularly heavy fire from the media and those in opposition to the scheme, as their insistent claims that universities would only charge above £6000 under “exceptional circumstances” have been completely blown out of the water. A “Toothless Regulator” Many fear that the reason for so many universities boldly going ahead and charging the maximum £9000 tuition fees is the lack of any threat of ramification from “toothless” regulator OFFA, which has imposed a vague scheme of various options for access measures and will not implement targets for university uptake of underprivileged students. Lost Courses Many universities are being forced to axe less vocational courses in the fear that the new breed of consumer-student will be expecting value for money and investing in courses that lead to a more definite employment path after graduation as a result of the enormous rise in tuition fees. With the government threatening to axe unfilled places, keeping unusual and minority courses available is simply not an option for many universities in this new, cutthroat marketplace, where education is suddenly being valued and sold as a commodity. London Metropolitan University alone is to cut its portfolio of courses by an overwhelming two thirds, reducing the overall number of course options from 557 to 160, simply to ensure financial survival when the new tuition fees scheme comes into practice in 2012. Fewer University Places In a desperate bid to control the potential financial disaster created by their miscalculation of average fees, the government has begun to threaten universities with the prospect of axed university places in order to reduce the burden of student loan lending. Higher Loan Repayment Interest The government will also cash in on extra interest being added to student loans from 2012, with interest set several percentage points higher than the current rate which increases only with inflation. Whilst they have trumpeted longer repayment periods as a great advantage of the new scheme, this will in fact result in some graduates paying back up to £85,000 in cash terms. Average Tuition Fee Disagreements There has been some criticism from both sides of the argument on the figures being cited for the average tuition fees. Protesters to the higher tuition fees argue that if the average fee were calculated by adding up the cost of each individual place the figure would be even higher, as most of the highest charging universities have a greater number of places than those offering lower fees. The government, on the other hand, hope to give powers for granting degrees to Further Education Colleges where students currently study for courses like the BTEC. These will charge much lower fees than universities, resulting, they say, in lower average fees. They also claim that once scholarships and bursaries are taken into account, the average fee actually paid by a student will be brought down below the average full price tuition fee, easing the burden on state funded student loans. Impact On Access Heavy opposition has been voiced to the new tuition fees scheme since its initial announcement, with enormous protests and marches of half a million people taking place to raise awareness of concerns. Many of these centre on the impact the new fees will have on fair access to university for students from poorer backgrounds and state schools. It is generally acknowledged that the trebling of tuition fees will introduce a formidable “psychological barrier” to applicants from lower income households, in spite of government protestations that fees will only be repaid after graduate employment is achieved and an annual salary of £21,000 is being earned. Campaigners are particularly concerned about the double impact of the raising of tuition fees coinciding with the government’s decision to axe vital programs for access to education such as the Aim Higher scheme and the Education Maintenance Allowance. Although universities will outline scholarship and bursary schemes as part of their higher fees packages, one such proposal from Bristol University lists the very lowest fee reduction, for pupils from households of income below £15,000 resulting in annual tuition costs of £3500, still higher than the current level of tuition fees. Future Effects We will have to wait until students have chosen their university places in 2012 before the first solid conclusions may be drawn about the social, economic and academic impact of the new tuition fees system. However, fears are high that the trebled prices and the creation of ‘budget degrees’ at further education colleges is likely to result in a two-tier, economically driven higher education system reminiscent of the old university-polytechnic divide. There is a strong possibility that many universities may become bankrupt or fail to offer arts-based and non-vocational courses altogether, whilst protesters fear we may see a drastic drop in the percentages of students from the most disadvantaged backgrounds taking up places at university at all. Most tragic of all, experts have warned that should graduate income vary by as little as 3% from the government’s calculated projections, the entire scheme will fail to make any material financial difference anyway, rendering the entire project completely unnecessary.

Friday, May 22, 2020

Feature Article Racism- to Kill a Mockingbird Etc

Are we born racist or have we learnt it? Children grow up heavily influenced by the values and beliefs of their family. If these attitudes are racist then innocent pick up these traits when usually they don’t see these differences. Society and media provide people with different aspects and feelings towards racism. The media are always exploiting riots and bashings such as the Cronulla riots when they occur, over exaggerating them when they are because of a simple thing like, the differences in cultures and peoples’ beliefs. People get indignant when they hear about others within their culture or beliefs being abused or unaccepted, raising the question of why people feel a need to be on the attack or defense. Do we learn such hatred for†¦show more content†¦Herr Liszt- â€Å"I think, Bruno, if you ever found a nice Jew, you would be the best explorer in the world†. ‘Rabbit Proof Fence’ was the story of a 3 young Aboriginal girls who were taken from their homes because they were ‘half castes’ and then their long walk home following the rabbit proof fence. The idea of the government taking children from their homes and placing them into the care of white people in the hope of them losing their cultural beliefs was stronger. This idea of them being changed was evident with quotes such as â€Å"This is your new home. We dont use that jabber here. You speak English† providing the idea of whites being dominant through their values. ‘Australia’ also showed how the government controlled how children of Aboriginal descent were brought up with language used such as â€Å"The mixed raced children must be dislocated from their primitive full blooded Aborigine, how else are we to breed the black out of them†. This presented again the reason as to why the Aboriginal children were taken away from their own cultures to be raised in something completely different. These films all reinforced how children’s opinions sway through the way in which they are raised. It demonstrated how as children they were clueless as to who was their enemies and why they were. They also revealed how the government has played a significant role within the riots between the cultural diversity. ThroughShow MoreRelatedAnalysis Of Harper Lees To Kill A Mockingbird1210 Words   |  5 Pagesidentity. Prejudice is an integral theme in Harper Lee’s, To Kill A Mockingbird. Prejudice is evident throughout the novel, not just in the appalling racism but also through, prejudice against different sexual orientations, gender constructs and feminism. Society had certain constructs that had to be met. Throughout To Kill A Mockingbird, Lee breaks the bounds to overcome barriers, and challenge social constructs. This feature article delves into how two different generations, can be affected byRead MoreRelationship between How to Kill a Mockingbird and Mississipi Burning2129 Words   |  9 PagesFeature Article: If you aint better then a nigger, then who you better then? What is a nigger? Used as a disparaging term for a Black person in the modern world, calling a black man, a nigger would be offensive and would be racist. What is racism? Racism is a form of discrimination based on race, especially the belief that one race is superior to another. Racism may be expressed individually and consciously, through explicit thoughts, feelings or acts, or socially and unconsciously throughRead MorePrejudice-to Kill a Mockingbird and Martin Luther King5895 Words   |  24 Pagesstep. In the twenty-first century prejudice and its destruction can be viewed in many forms of modern literature. Two of the most famous and rejoiced literatures that examine the theme of prejudice are Harper Lee’s realist fiction novel ‘To Kill a Mockingbird’ and Martin Luther King’s heart warming speech ‘I Have a Dream’. Both texts explore the theme of prejudice of white Americans on the Blacks in the racially tense times of the early twentieth century. Unlike Harper Lee, Martin Luther King goes

Saturday, May 9, 2020

The Undisputed Truth About Scarlet Letter Essay Topics That the Experts Dont Want You to Know

The Undisputed Truth About Scarlet Letter Essay Topics That the Experts Don't Want You to Know What You Should Do About Scarlet Letter Essay Topics Beginning in the Next Six Minutes How Hester loved Pearl made it hard to feel that she had done wrong. She gives to charity and helps the needy. She agrees to keep his secret. She may be the perfect case of sin leading to knowledge. It is crucial to remember that Pearl was a really clever child. It's also essential to note that pearl was a rather beautiful child. Pearl was her only reason to reside. Pearl is not intended to be a realistic character. Life After Scarlet Letter Essay Topics When it has to do with dating married men there are lots of things to keep into account. By the close of the book, but the letter arrives to stand for able and angel along with adultery. When a politician campaigns on this platform and more to the point when voters just like you and me are prepared to vote for that type of politician then I will admit that it is clear that trial and error works. The word for that is ineffable too powerful to be set into words and frequently the ineffable ought to be left alone. Ruthless Scarlet Letter Essay Topics Strategies Exploited As the story carries on, she starts to form her own identity. Perhaps the main symbol in the novel is the renowned letter A itself. Within this example, Hawthorne indicates that it might not be simple to bounce back from a wrong-doing. however, it is possible with patience and perseverance. Present a brief narrative. Unity and Structure Certain artistic laws have to be faithfully executed so the reader can stick to the trail. Native Americans make a couple of brief and mysterious appearances within this novel. Students lead busy lives and frequently forget about a coming deadline. During its best, this type of learning is individualized. If you're tasked to write a college essay, you're not alone. If I intend to enter a great college, then I'm certainly going to should improve on such a skill. You are students seeking to have greater empathy and increased collegiality. At this stage, you'll probably will need to appear back at your notes about the book to determine why the letter is critical. I don't wish to be a hypocrite and explain to you how simple it is to compose a thesis statement for this theme whilst not actually offering an example myself. A thesis statement must be specific, highlighting statements that you are just about to make in your paper and backing this up with an evidence. How much you could earn while your paper work is being done by somebody, who knows the way to do it correctly! Many trustworthy writing services are eager to provide essay help. There's a simpler approach to manage this paper. You're also not alone in discovering that writing this sort of paper is truly tough. How to Choose Scarlet Letter Essay Topics An individual would assume that the primary character would be the shakiest in a situation like this, but it's actually Dimmesdale and Chillingworth that are definitely the most unstable. A theme is understood to be the main notion of a story. The actual explanation isn't obvious. Throughout the entire novel lots of the characters represent other ideas. Using Scarlet Letter Essay Topics Turning into a writer for our firm is extremely challenging. It doesn't matter to us, whether you're too busy on the job concentrating on a passion undertaking, or simply tired of a seemingly infinite stream of assignments. It turned out to be a miserable experience. Our support team can assist you through the ordering process, take details of any added requirements you could have, and obviously, answer any questions you have about us and our goods and solutions. Just do good research for reliable company, and you won't regret your choice. Our customer support will gladly tell you whether there are any special offers at the present time, in addition to make sure you are getting the very best service our company may deliver. Our company knows the way to offer essay help for company and academia because we've been doing it for decades. It is completely plagiarism free! Up in Arms About Scarlet Letter Essay Topics? A few of these works ought to be scrupulously analyzed to be understood in their entire complexity. There are an entire range of generic costumes readily available, including some excellent novelty and animal outfits. There are several types of revenge which occur in both pieces of writing, together with many folks that are revenge-ridden. Not all sites deliver such a function.

Wednesday, May 6, 2020

Spaying and Neutering How Soon Is Too Soon Free Essays

English 101 29 May 2012 Spaying and Neutering: How Soon is too Soon? Often referred to as â€Å"man’s best friend,† dogs have been around for thousands of years. They provide their love and services to their human counterparts, and most often receive love, food, and shelter in return. Responsible dog owners everywhere would agree that neutering your dog is important and something that must be done; but the question is when? Most people neuter their dogs between 5- 7 months, simply because this is was common tradition. We will write a custom essay sample on Spaying and Neutering: How Soon Is Too Soon? or any similar topic only for you Order Now A common tradition that needs to be re-evaluated. What most people do not realize, is that it is most beneficial to his/her health when a dog is spayed or neutered after his/her first birthday to promote a healthy, prosperous, and disease-free life. First off, what does it mean to spay or neuter your dog? Also known as desexing, it’s the process of removing their sex organs for population control, health, and behavioral modification (O’Meara). The operation requires general anesthetic, stitches, and a close watch to ensure safe healing. Because the procedure requires anesthetic, most veterinarians recommend that your dog be in the 5-7 month range for desexing. Most veterinarians say it is safer for the dogs to wait until this age before undergoing a anesthetic surgery. They believe the liver and kidneys in younger animals are less mature, and less capable of tolerating the effects of the anesthetic (O’Meara). However, some veterinarians now are saying it is safe and effective to neuter your pet before this 5-7 month-mark. Dog owners can ask to have their pet desexed at an earlier age. The practice was approved by the American Veterinary Medical Association (AVMA) and studies done at the University of Illinois provided evidence of successful early desexing of dogs (Fuess). Another common belief concerning desexing dogs at this stage is to eliminate the ‘naughty behaviors’ dogs will develop if neutered too late. Undesirable sexual behaviors such as roaming, mounting, and masturbation can be reduced by neutering your male dogs (Clark Animal Hospital ). However, this is untrue: â€Å"The study that identified a higher incidence of cranial cruciate ligament rupture in spayed or neutered dogs also identified an increased incidence of sexual behaviors in males and females that were neutered early† (Zink). After I graduated high school, I got a Bullmastiff puppy. A lot of people told me to neuter him when he was 5 months, but I wanted to wait. They told me if I didn’t do it soon, he would start to develop these bad habits. Now, he is almost a year old and I have no issues with his behavior, at all. He also found a report from the American Kennel Club suggesting males and females who were spayed or neutered early having problems with aggression and fearful behaivors (Zink). Neutering a dog at an early stage in life may not have a positive, but rather a negative effect on their demeanor. While it seems all anyone is interested in how early you can desex your dogs, and some believe it is effective to neuter your animal at an early stage, it is the most beneficial to health to wait until after their first birthday. Chris Zink, veterinarian and Diplomat of the American College of Veterinary Pathologists, considers early neutering and spaying for dogs any desexing procedure done before puberty. He noticed many differences between dogs desexed at an earlier age, and those who weren’t. He noticed variables in dogs’ health concerning orthopedics, cancer, behavior, and other health concerns related to these animals. One common reason people neuter their male dogs before 7 months is to decrease their chance of developing prostrate cancer. However, there have been some studies that suggest that this provides no benefit (Zink). He also noticed a difference between dogs who had developed bone cancer and those who had not. One source indicated a two-fold higher risk in dogs that were desexed early and others who waited (Zink). Growing up, my family always had a dog. Our first dog was a blonde German shepherd named Clyde. We followed the status quo, and when he was 6 months of age we had him neutered. He was the most loyal, obedient, handsome, fun-loving dog, and we loved him. However, when Clyde got older, we had to have him put him down because he had developed bone cancer. After reading the findings of Dr. Zink I ask myself, â€Å"If we had waited to neuter Clyde, would he still have developed bone cancer? † However, my decision to neuter Bentley at a later age will not make up for the thousands who do not. Most people spay or neuter their dogs at 5 to 7 months, simply because of tradition; but this is a tradition that needs to be re-evaluated. Practices amongst vets need to change. When someone goes in for an appointment with their veterinarian, there should be a lengthy discussion between them and the dog owners about spaying and neutering options. Most people don’t even know that waiting to desex is possible. The veterinarians, breeders, and owners who do believe in waiting to desex need to do a better job of advertising, educating, and supporting this campaign. Its an issue I always bring up when I take my dog to the dog park. When discussed most people don’t even realize it’s an option; however, I am not a licensed vet, so not only I do encourage others to research the topic for themselves, but to also talk to their veterinarian about their options to get a professional opinion. Now I am on my own, and I have a dog of my own. Bentley, my 110 pound 11-month old Bullmastiff, is intact and healthy. When I bought him as a puppy, the breeder was very stern about waiting to neuter the puppy. Bullmastiffs are considered a giant-breed-dog; due to their massive size, they are prone to some diseases such as hip dysplasia. â€Å"Another recent study showed that dogs spayed or neutered before 5 1/2 months had a significantly higher incidence of hip dysplasia than those spayed or neutered after 5 1/2 months of age† (Zink). I’m choosing to keep my dog intact until after his 1 year mark because it will promote his best health. and will reduce his risk of developing this painful disease. Waiting also reduces his chance of accumulating a behavioral disorder, and bone cancer. Desexing your dog at the 5-7 month range does no such benefits. Bentley is apart of my family, and I want the best for him. The best food, the best toys, and most importantly: the best health. Although it would have been safe for me to d o so earlier, neutering him after his first birthday will be the most beneficial to his health; my vet, my breeder, and myself agree. Works Cited Alice Villaolobos, DVM. Veterinary Practice News. 1 Dec 2008. 29 May 2012 Web. veterinarypracticenews. com. Chris Zink, DVM, PhD, DACVP. â€Å"Early Spay-Neuter Considerations for the Canine Athlete: One Veterinarian’s Opinion. † 2005. caninesports. com. Web. 28 May 2012. Clark Animal Hospital . Spay Neuter. 28 May 2012. Dr. Becker. Dn’t Neuter Your Dog YET- Read This Information First! 17 February 2011. Web. 28 May 2012. Dr. Shauna, O’Meara. Pet Informed. Web. 28 May 2012. Theresa A. Fuess, PhD, VM-3. â€Å"Early Spay/Neuter: An Overview. † Illinois Veterinary Bulletin 6. 1 (1998). How to cite Spaying and Neutering: How Soon Is Too Soon?, Essay examples

Tuesday, April 28, 2020

Journal for The Crying of Lot 49

The Crying of Lot 49 is a postmodernist novel by Thomas Pynchon. Oedipa Maas as the main protagonist of the novel attempts to investigate a centuries-old conflict between the mail distribution companies by opening windows to the world beyond the known sun.Advertising We will write a custom essay sample on Journal for The Crying of Lot 49 specifically for you for only $16.05 $11/page Learn More The narrative method used in The Crying of Lot 49 can be linked to a detective story, full of riddles, attempts to solve them and unexpected plot lines. Using a detective storytelling model was characteristic of postmodern novelists. From the opening episodes of the novel, readers are engaged into a detective-like search for the solution of the main puzzle. Oedipa Maas as the main protagonist of the novel acts as a detective investigating the case of centuries-old worldwide conspiracy. The main character can be associated with the girl from the picture Encuentro b y a Spanish-Mexican surrealist painter Remedios Varo. The girl in the picture is sitting in an empty room with a box on the table. A face similar to her own is looking into the girl’s eyes from the box. The symbolic meaning of this box can be interpreted as the circumstances hiding the truth and answers to the main question surrounded with mystery. Lost in thoughts, the girl in Remedio Varo’s picture like Oedipa Maas from the Pynchon’s novel under consideration are searching to the answers for the mystery whereas the solution is closer than it might seem. However, analyzing the role of mystery in the plot of The Crying of Lot 49, it can be stated that the effect of mystery is produced with the structure of the novel and the intersection of the main plot lines I it. There is no strict line between randomness and strict pattern in Pynchon’s novel which intensifies the impression produced upon the readers involved into the process of detective investigation . Emerged into the investigation conducted by the main protagonist, readers as well as Oedipa herself are frequently unsure whether her findings can be true. Oedipa finds a lot of clues on her way, but frequently doubts their authenticity. As opposed to Varo’s surrealistic picture which does not claim for competing with reality, the plot of the novel under consideration depicts the absurdity of the world and can make readers to believe the author. Oedipa asks herself: â€Å"Shall I project a world?† (Pynchon 82). This rhetoric question reflects the character’s doubts regarding the authenticity of particular clues and evidence she finds in the course of her investigation. This uncertainty is inevitably shared by readers who question authenticity of the plot lines and the story of the conflict between the two mail distribution companies. Advertising Looking for essay on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More Regardless of the fact that the novelist provides detailed explanation on how the WASTE mail system was originated which sounds rather reasonable and realistic, readers are left without clear answers to their questions. Looking for the answer, Oedipa has to consider even more than three traditional dimensions: â€Å"Now here was Oedipa, faced with a metaphor of God knew how many parts; more than two anyway. With coincidences blossoming these days wherever she looked, she had nothing but a sound, a word, Tristero, to hold them toghether† (Pynchon 109). Trying to find the basis for this metaphor, the main character frequently looses her connection with reality and tries to build more sophisticated mental bridges searching for the main answer. Looking for the solution of the main riddle, the Oedipa tries to extend the limits of her perception to see the hidden worlds and hear the unheard music by opening windows to new dimensions. For instance, meeting a sailor, Oedipa opens a window to a dimension which cannot be expressed in spoken language, but is accessible only in vision. â€Å"She knew that the sailor had seen worlds no other man had seen† (Pynchon 129). In this episode, the reasonable explanation is intersected with imagination and surreality depending upon the interpretation of the unknown worlds. On the one hand, a sailor could visit unknown lands during his traveling all over the world. On the other hand, from the context, readers can understand that the unknown worlds are not only distanced from them, but also hidden on unusual levels of perception. Oedipa attempts to search for the answers beyond the well-known worlds and even to hear â€Å"music made purely of Antarctic loneliness and fright† (Pynchon 129). This metaphor which is based on the mix of traditional senses and perception clearly demonstrates the novelist’s attempts top extend the traditional boundaries of the three-dimensional world. Despite of all the absurdity of the depicted world, the author provides logical reasoning for the most plot lines no matter how unrealistic they may sound. By preserving a particular pattern within all the chaos and mess of the plot lines and the levels on which they take place, Pynchon appeals to the minds of readers and allows them to draw their own conclusions whether the story is authentic or not. By combining the elements of a detective narrative pattern and logical reasoning and depicting the absurdity of this world, Pynchon makes readers of his novel The Crying of the Lot 49 to doubt the authenticity of his story and the unknown worlds shown in it.Advertising We will write a custom essay sample on Journal for The Crying of Lot 49 specifically for you for only $16.05 $11/page Learn More Works Cited Pynchon, Thomas. The Crying of Lot 49. Harper Collins, 2009. Print. This essay on Journal for The Crying of Lot 49 was written and submitted by user Harper K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Friday, March 20, 2020

Operating Exposure Essay Example

Operating Exposure Essay Example Operating Exposure Paper Operating Exposure Paper Xian- Janssen Pharmaceutical (China) and the Euro INTERNATIONAL FINANCIAL MANAGEMENT Case Questions and Answers 1. How significant an impact do foreign exchange gains and losses have on corporate performance at XJP? What is your opinion of how they structure and manage their currency exposures? During 2003, the dramatic raise in the value of Euro against the dollar resulted in foreign exchange losses of Rmb 75 billion, out of which Rmb 60 billion were charged as 2003 cost of hedging. The year of 2003 proved to be fortunate for the XJP Company, housing fund adjustment and inventory valuation reversal recorded extraordinary gains of Rmb 70 billion. These gains had lessened the negative influence of the foreign exchange losses on the company’s net earnings resulting in a net increase of Rmb 10 billion. In 2004, The Company estimated the Euro to further appreciate relative to the US dollar. Estimated foreign exchange losses were Rmb 75 billion. Since the year 2004 is unlikely to be fortunate like 2003, the appreciation of the Euro is estimated to affect the profitability of the company and result in a reduction of 4. 6% in net earnings. I think XPY Company should consider getting raw material and finished products from suppliers, other than JJ, specifically who are based in countries where currencies are pegged to the US dollar. Moreover, the company should negotiate and discuss the possibility of setting lower internal transfer prices and applying centralized hedging practices where the parent company attempt to net transaction exposure of all its subsidiaries. . JJ has roughly 200 foreign subsidiaries worldwide. It has always pursued a highly decentralized organizational structure, in which the individual units are responsible for their own performance from the top to the bottom line of the income statement. How is this reflected in the situation XJP finds itself? Examining the case of XJP along with the losses generated from FX movements and hedging costs, decentralized organizational structure proved to be inefficient. In this example, granting XJP Company the full responsibility to manage currency risks and bear hedging costs negatively affected the company’s profitability. However, I still believe that the management of XJP Company should be given a room of freedom (decentralization) in other areas like deciding from where to import and with whom to deal. Moreover, the company should be given the opportunity to produce more than just generic products, to positions its differentiated products and to market them. 3. What is the relationship between actual spot exchange rate, the budgeted spot exchange rate, the forward rate, and the expectations for the Chinese subsidiary’s financial results by the U. S. parent company? Actual spot exchange rate is defined as rate of a foreign-exchange contract for immediate delivery. It’s basically the actual and current price of one currency in terms of the other. The budgeted spot exchange rate is estimated by the company to be the rate of a foreign-exchange contract for immediate delivery at a certain point of time. Normally, companies estimate or forecast the spot exchange rate to plan, budget and form expectations and strategic plans. This rate can be estimated by the company’s researchers, economists or third party consultants. The forward rate is the rate of a foreign-exchange contract for future delivery With regards to the case study of XJP Company, the forecasted or budgeted spot exchange rates proved to be deviating from the actual average forward rates. For example, in 2003, the company budgeted spot exchange rate (euro/Rmb) at 8. and since the expected import purchase was million 121 euros, the company estimated import purchases to be (8. 6 X million 121 euro), which is Rmb 1. 0406 billion. However, as the actual average forward rate of the euro reached 9. 22, the company’s actual cost of imports recorded Rmb 1. 11562 billion, resulting in Rmb 75. 020 million losses due to cost of hedging. With regard to 2004 budget figures, the company budgeted spot exchange rate (euro/R mb) at 9. 8 and since the expected import purchase was million 145 euros, the company estimated import purchases to be (9. X million 145 euro), which is Rmb 1. 42296 billion. However, as the actual average forward rate of the euro reached 10. 5, the company’s actual cost of imports recorded Rmb 1. 5246 billion, resulting in Rmb 101. 64 million losses due to cost of hedging. Analyzing the effect of the exchange rate movement and cost of hedging on the financial figures of XJP, JJ underestimated the significant role played by exchange rate movement and cost of hedging on the gross cost of product sold of its subsidiary. It’s obvious that the parent company had set the objective of 20% growth in earning without considering the high cost of hedging and foreign exchange losses. 4. If you were Paul Young, what would you do? The answer to this question depends on whether Paul wants to tradeoff risk for return, in other words, it depends on whether he is concerned about meeting JJ’s objective of achieving 20% growth rate. If he decided to fulfill the JJ’s objected growth rate, then he is advised not to hedge against foreign exchange movements. Under this situation, he will expose the company to a greater currency risk, while at the same time, he would be able to meet and fulfill the required growth rate by the parent company. On the other hand, if Paul decided to hedge XJP’s position and its gross cost of goods sold against currency risk, he would definitely fail to meet JJ’s expectations due to high cost of hedging, while at the same time, he will expose his company (XJP) to a much lower currency risk. In other words, if Paul happened to be a conservative manager, he will most probably favor hedging the company’s gross cost of products sold against currency movements, therefore, sacrificing high profit rates. However, if he happened to be an aggressive and risk taking manager, them he would choose to unhedge the company’s gross cost of products sold therefore, exposing XJP Company to a much greater currency risk.

Tuesday, March 3, 2020

Testimony vs. Testimonial

Testimony vs. Testimonial Testimony vs. Testimonial Testimony vs. Testimonial By Mark Nichol What’s the difference between testimony and testimonial? The former word refers to formal presentation of facts, while the latter, while denoting the same meaning, has a more qualitative connotation in which opinion (and perhaps deception) is expressed as well. Testimony means â€Å"the statement of a witness† and is used generally used only in a legal sense; originally, it also referred to evidence, but that sense is obsolete. Testimonial, as an adjective, means â€Å"of or pertaining to testimony,† but as a noun it means â€Å"a statement of one’s character or qualifications.† This sense has been extended to refer to a common type of advertising in which a person testifies to the efficacy or quality of a product, as well as to a gift symbolizing appreciation. And just as testimony may be faulty or may involve perjury, testimonials are not necessarily reliable or deserved. Testify, meanwhile, is a verb meaning â€Å"to bear witness.† A related word is testament, from the Latin word testamentum, meaning â€Å"a will† or â€Å"publication of a will†; it derives ultimately from testis, meaning â€Å"witness.† Other words with the syllable -test include the verbs attest (â€Å"affirm† or â€Å"prove†), contest (â€Å"dispute† or â€Å"oppose,† originally in the sense of witnessing against someone, but now also meaning â€Å"compete†), detest (with the original sense of â€Å"denounce† but now generally meaning â€Å"abhor, dislike intensely†), and protest (originally, â€Å"declare or state formally or solemnly† but now meaning â€Å"complain† or â€Å"speak out against†); noun forms of contest and protest and nouns extending from attest and detest (attestation and detestation); and adjectival forms such as detestable. The syllable -test in these words is related to Indo-European root word for â€Å"three†; the connection is that a third person, ostensibly neutral, is the ideal witness for providing testimony. Also, curiously enough, the word test, as a synonym for exam or trial, probably has no connection to the Latin syllable; it comes from the unrelated Latin word testum, meaning â€Å"earthen pot,† the earliest type of vessel used for assaying precious minerals. (This term is related to texere, meaning â€Å"to weave,† from which we get the word textile.) Testicle (plural testicles, medical terms testis and testes), meanwhile, is associated with the sense of witnessing, perhaps in that the male reproductive organ bears witness to virility; one scholar, however, does make a connection between testis, the Latin origin of testicle, and testum, the Latin word for a pot. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Addressing A Letter to Two PeopleThe Difference Between "will" and "shall"10 Writing Exercises to Tighten Your Writing