Friday, June 26, 2020

Changes in Personal and Family Finances over the Generation - 550 Words

Changes in Personal and Family Finances over the Generation (Essay Sample) Content: Name: Tutor: Course: Date: Changes in Personal and Family Finances over the Generation Statistics reveal that several Americans and persons in the developing world of the current generation are immersing themselves into more debt as they indulge in impulsive buying and lustily purchasing they would rather forgo. The ‘luxury fever’ that has caught many Americans especially spurred by the upper class has caused the middle class to reduce their savings and increase their arrears. This is evident as increasing number of the middle class are being rendered bankrupt. The culture of competitive spending among Americans has eroded the value of public goods such as social services, recreation, and culture. The social aspect of the American culture that has greatly attributed to this change is the enrollment of women in the workforce that was not the norm generations ago. This has raised the median income of families now that both parents are breadwinners. Dat a shows that, in 1976, a married woman was twice more likely to be a stay-at home –mom compared to today. Half a century later, the statistics have reversed with a contemporary woman twice likely to have a full time job than stay at home. Maternal leaves are also getting shorter at work. Women contribution in the labor force has boosted family incomes by 75% thus increasing the money for spending. On the contrary, the amount of savings families hoards up for the future has decreased. Families are also spending more money beyond their means turning from the tradition of savings to incurring of debt. Home foreclosures in America have tripled over two decades with one in every three American families earning about $35000 not capable of footing their credit bills on mere minimum basic salary. Designer clothing is the preferred clad by the middle class that is extremely expensive. Unlike in the past where the stay at home would cook for the family, currently with both parents at work, most families buy food which is expensive in the end. Increasing home fitting with luxurious appliances such as washing machines, home theaters, driers also increase spending. Nevertheless, according to statistics these are not the major causes of frittering away of family income since savings on in other aspects offset these spending compared to the past such as tobacco use. Most of these spending are blamed on social pressure of high expectations of financial success whereby most individuals are eager to prove fast achievement that is demonstrable by amassing material wealth such as big houses, vehicles, and such like tangible items. Such pressures have been blamed for the rising cases of depression and anxiety among Americans, which leads to substance abuse and eating disorders that delve up more health issues. One major attribute of debts in middle-income families has its provenance when buying a home. These families have a tendency of buying mortgages beyond their mean s in their endeavor to procure a beautiful home that satisfies their taste, putting into account the increasing housing costs. Homes with more bedrooms are most preferred today with an average of 6.1 rooms in the 1990s compared to 5.7 two decade ago. More and more rooms are being preferred thus increasing mortgages for middle-income earners beyond what their income can service. Owning a car with expensive inbuilt amenities and features is also driving family spending up the scale but not as drastically as owning a second car. Most families currently find it necessitating owning a second family car. A household with no older sibling or grandmother who would look after little children for free, are compelled to pay childcare whose costs have skyrocketed in a span of few years, for example, from between 2000 and 2003, a 19% increment. Government policies on healthcare have taken a toll on the family income of the middle class. More and more families are finding it elusive to secure th em healthcare insurance. For the fortunate employees who have their employer’s chip in for their health insurance, their insurance costs have risen steadily over the years to over 90%. For persons whose employer’s offers little assistance finds it unaffordable is not insured altogether. Taxation by government has also increased, and transportation costs bearing on the middle income families with a net increment of 75% of basis income spent on basic expenses. With increasing debt, spouses in the families are obliged to work extra working hours or take two complimentary jobs so as to be able to foot the other needs such as school fees, insurance and retirement. There is no room or margin for error whereby one cannot afford to be injured, sick, or have liabilities that would see him or her loose working hours or worse off get laid off for this would spell doom for the family. Social wise, this extreme dedication and focus on work to make extra money, takes a strain on social life with little time for interaction between friend...

Monday, May 25, 2020

Time Travel - 2094 Words

Time Travel Mark Jacob de Paz Course: Comm 2 Instructor: Mrs. Noemi Agner Date: March 14, 2011 2 Time Travel Thesis Statement Time travel is possible. Outline: Time travel A. Definition of time travel B. Origins of the concept Theories about time travel A. Time travel forwards 1. Time dilation 2. Time perception B. Time travel backwards 1. Using wormholes 2. Special spacetime geometries Philosophical understandings A. Grandfather paradox B. Novikov self-consistency principle Conclusion 3 Time Travel People often wish that they could go back to the past and correct their wrong behaviors or go to the future and see what it turns out to be like. The idea of time travel has been the topic of science fiction movies and†¦show more content†¦In addition, time travel to the future would be possible through time perception, where the body temperature and metabolic rate of the creature is decreased. Some scientists research on the possibility of time travel to the past and the results demonstrate that it will become true. Certainly, they displayed two possible methods which will help an individual to be able to travel backwards, these are by using wormholes and through the idea of special space time geometries. One view (Brian, 2001) is that, â€Å"Wormholes appear to be the main way that time travel into the past would be 7 possible. Wormholes are holes in the fabric of four dimensional space-time, that are connected, but which originate at different points in space and at different times†. Crystalinks (2010) asserts that â€Å"A proposed time-travel machine using a wormhole would (hypothetically) work something like this: A wormhole is created somehow. One end of the wormhole is accelerated to nearly the speed of light, perhaps with an advanced spaceship, and then brought back to the point of origin. Due to time dilation, the accelerated end of the wormhole has now experienced less subjective passage of time than the stationary end. An object that goes into the stationary end would come out of the other end in the past relative to the time when it enters†. Although, it is hard to build a time machine like a huge spacecraft,Show MoreRelatedEssay Time Travel989 Words   |  4 Pages Time travel is feat thought by most to be impossible. After all time travel is what many science fiction mo vies are made of. Let us not forget such movies as â€Å"Back to the Future† or â€Å"The Time Machine.† Yet unlike those movies time travel is not necessarily fiction. â€Å"We are in our own time machines, our hearts are pumping blood, were breathing, we are existing through time (at least until our own personal time machines seriously malfunction).† (Need help citing this!) Still surrounding this topicRead MoreTime Travel : Or Apocalyptic?1579 Words   |  7 PagesTime Travel: or Apocalyptic: Science Fiction We have discussed, over the semester, several different common themes of science fiction. But there are three common themes of science fiction that stick out the most when reading the novel, The Transall Saga by Gary Paulsen, which would be extreme environmental changes, time traveling, and post-apocalyptic situations. The bluish-white light that transport Mark through time, thousands of years into the future and the way the people look with their webbedRead MoreIs Time Travel Possible?2057 Words   |  9 PagesIs Time Travel Possible? Introduction Time Travel is a concept that has fascinated me and many others throughout time, using the question of ‘Is Time Travel Possible?’ also asked by many others in the world today. I will research what time travel is, how it can be done, and if and when it could be possible to develop my understanding of the concept then state my views and opinions on time travel. What is Time travel? Time travel is a concept of movement between different points in time usuallyRead MoreTime Travel Is Not Only Possible? Essay2401 Words   |  10 PagesTime travel has long been a fascination of the science fiction genre, with many of the great stories concerning time travel being centred around the philosophical issues of the paradoxes seemingly caused by just the possibility of time travel, namely that of bootstrap and grandfather paradoxes. A question that is often bandied about is whether or not time travel is possible, now unless those questioning are physicists attempting to warp space-time back upon its self-using long equations and ‘TardisRead MoreTime Travel2080 Words   |  9 PagesTime Travel Mark Jacob de Paz Course: Comm 2 Instructor: Mrs. Noemi Agner Date: March 14, 2011 2 Time Travel Thesis Statement Time travel is possible. Outline: Time travel A. Definition of time travel B. Origins of the concept Theories about time travel A. Time travel forwards 1. Time dilation 2. Time perception B. Time travel backwards 1. Using wormholes 2. Special spacetime geometries Philosophical understandings A. Grandfather paradox B. Novikov self-consistencyRead MoreSummary : Time Travel Paradox2138 Words   |  9 PagesTIME TRAVEL PARADOX A paradox is a proposition that leads to a conclusion that seems somewhat senseless or logically unacceptable despite apparently sounding reasonable from acceptable premises. The statement may also seemingly sound self-contradictory or even absurd but when investigated or explained may prove to be genuine and quite well founded. Some paradoxes may be considered invaluable arguments but still play a significant role in promoting critical thinking. Paradoxes have led to the revelationRead MoreIs Time Travel Possible? Essay1918 Words   |  8 PagesWho, Star Gate, Bill and Ted’s Excellent Adventure, Terminator, The Time Machine, and so on so forth. These movies and TV shows have one thing and common witch as your can guess is time travel. But if you look at each single one separate not one time travel is the same from the other. Before we begin we shall learn what time travel is. Time travel is when one person, matter, or object moves in a three dimensional direction in time. Th e three dimensions are length, width and height but for this explanationRead MoreEssay on Time Travel666 Words   |  3 PagesTime Travel First of all, to give you a better concept of time I will use a personal theory of mine. When you look up at the sky at night, at the stars, what are you seeing? Do you think that collage of stars actually exists? Most of them do not. When you look at the sky at night you are seeing the past because it takes an obscene amount of time for the light from those stars to reach earth, and in that time those stars may have disappeared. It works both ways. When an inhabitant, if thereRead MoreCan There Be Time Travel Without Paradox? Essay2418 Words   |  10 PagesCan there be time travel without paradox? Time travel has long been a fascination of the science fiction genre, with many of the great stories concerning time travel being centred around the philosophical issues of the paradoxes seemingly caused by just the possibility of time travel, namely that of bootstrap and grandfather paradoxes. A question that is often bandied about is whether or not time travel is possible, now unless those questioning are physicists attempting to warp space-time back uponRead MoreThe Theory Of Time Travel1344 Words   |  6 PagesUniverse indexing is an interesting theory on how time travellers might avoid the Grandfather Paradox . It does solve a lot of problems time travellers would encounter if other theories were true, and due to this fact is quite popular to debate. Many authors such as Terry Pratchett and Stephen King have used the Multiverse Theory in their books, and even popular television shows, such as Doctor Who, use it within their narratives. In this essay I will first explain wha t universe indexing is

Monday, May 18, 2020

What Attracts Bedbugs to Human Environments

Once considered a pest of the past, bedbugs now make regular headlines as they infest homes, hotels, and dormitories worldwide. As bedbugs spread, more people worry about them and want to know what causes a bedbug infestation. Though it might seem as if bedbug infestations are on the rise, historical context indicates that bedbugs and other bloodsucking parasites have been associated with humans for thousands of years. Throughout that history, people have endured them feeding on their blood. Bedbugs all but disappeared when people started using DDT and other pesticides to keep insects out of their homes. Although news headlines suggest bedbugs are conquering the world, the reality is that bedbug infestations are still at historically low numbers. Why are they called bedbugs? Once they settle into your home, they congregate where you spend a lot of sedentary time: chairs, couches, and especially beds. They are attracted to you by the carbon dioxide in the air you breathe out, and you do a lot of breathing over the hours youre in bed. Then they feed on your blood. Bedbugs Dont Care If Youre Clean or Dirty Contrary to popular belief, there is no association between bedbugs and filth. They feed on human and animal blood, and as  long as a source of blood is available to them, they will happily take up residence in even the most pristine home. Being poor doesnt put you at greater risk for bedbugs, and having wealth doesnt immunize you from a bedbug infestation. Although poverty doesnt cause  bedbugs, impoverished communities may lack the resources needed to control infestations, making them more persistent and pervasive in such areas. Bedbugs Are Excellent Hitchhikers For bedbugs to infest your home, they have to hitch a ride on someone or something. They dont usually stay on their human hosts after feeding, but they might hide in clothing and inadvertently go along for the ride to a new location. Most often, bedbugs travel in luggage after someone has stayed in an infested hotel room. Bedbugs may even infest theaters and other public spaces and spread to new locations via purses, backpacks, coats, or hats. Bedbugs Go Where the Action Is Since bedbugs travel by hitchhiking,  infestations are more common in places with high rates of turnover in the human population: apartment buildings, dormitories, homeless shelters, hotels and motels, and military barracks. Any time you have a lot of people coming and going, theres an increased risk that someone will carry a few bedbugs into the building. In general, owners of single-family homes have a lower risk of getting bedbugs. Bedbugs Hide in Clutter Once in your home, bedbugs scurry quickly to select a new hiding place; in beds and other furniture, behind baseboards, under wallpaper, or inside switch plates. Then its just a matter of time before they begin multiplying. A single female may arrive at your doorstep already carrying enough eggs to produce hundreds of offspring. While filth does not benefit bedbugs, clutter does. The more cluttered your home is, the more hiding places there are for bedbugs and the harder it will be to get rid of them.

Thursday, May 14, 2020

Medical Ethics And Abortion A Moral And Ethical Dilemma...

Medical Ethics and Abortion Abortion is wrong because it is the murder of a human being. Abortion continues to be a moral and ethical dilemma for all those involved. The American Nurses Association (ANA) Code of Ethics states, â€Å"nurses have the ethical and moral obligation to promote and protect life.† Still, debates continue, opposing the belief of life against the principle of autonomy and a woman’s right to regulate her body. It is disputable that the right to have an abortion is a right to dominate one’s body, but the death of the fetus is an inevitable result of the termination of that pregnancy (Religious studies online, n.d.). One million two hundred thousand abortions are done yearly in the United States from weeks 9 to 21+ of gestation (Pro Life Action League). Nevertheless, nurses, no matter how caring and compassionate, their individual education, culture, religion, past, gender and even age will influence the care that is given to their patients (British Journal of Nursing, 2015, p. 345). With that, if a nurse assists with the procedure of abortion, is he or she going against the Code of Ethics for Nurses? No matter if the nurse assists with the abortion or not certain rules for privacy must be followed. The Health Insurance Portability and Accountability Act (HIPPA) Privacy Rule protects the patients’ health information, even those experiencing unwanted pregnancies (Simmonds Likis, 2011, p. 794). As health care providers we must strive to improve our patient’sShow MoreRelatedEthics Of Computing And The Internet1173 Words   |  5 Pages Ethics in Computing and the Internet Jorge Zacarias Written Assignment Unit 7 University of the People Inside the topic of health care system ethic is implicit the pregnancy dilemma. This wide topic can include hundreds of pages; herein we are going to cover principal’s data of this essential topic in today’s lives. Pregnancy includes a debate for more than 4 decades and some topics that affect not only mothers even child, there are many dilemmas surrounding this controversialRead MoreEthics Of Computing And The Internet1173 Words   |  5 Pages Ethics in Computing and the Internet Jorge Zacarias Written Assignment Unit 7 University of the People Inside the topic of health care system ethic is implicit the pregnancy dilemma. This wide topic can include hundreds of pages; herein we are going to cover principal’s data of this essential topic in today’s lives. Pregnancy includes a debate for more than 4 decades and some topics that affect not only mothers even child, there are many dilemmas surrounding this controversialRead MoreEthical Dilemmas Of A Drug Company s Regional Sales Manager1748 Words   |  7 Pagescan be hard to make a decision, especially when an ethical dilemma is involved. Ethical dilemmas pose a challenge because there is good to be found with both choices. The problem arises when one’s personal ethics are challenged. This paper will discuss an ethical dilemma with which a drug company’s regional sales manager was faced. It will discuss: the case and explain the ethical dilemma; the four functions of management; ethical issues; ethical relativism; four values; case resolutions; and ChristianRead MoreEssay on Legality of Abortion1545 Words   |  7 PagesOf all the legal, ethical, and moral issues we Americans continuously fight for or against, abortion may very well be the issue that Americans are most passionate about. The abortion issue is in the forefront of political races. Most recently the â€Å"no taxpayer funding for abortion act†, has abortion advocates reeling. Even though abortion has been legal in every state in the United States since the monumental Supreme Court decision, â€Å"Roe v Wade†, on January 22, 1973; there are fewer physicians willingRead MoreLegal Affairs And Ethics Of Medical Practice Essay1294 Words   |  6 PagesThis article will attempt to demonstrate and assess legal affairs and ethics in medical practice. What are the main concerns and responsibilities, what is considered as being legitimate and juridical and what is unlawful and unacceptable. This essay will also provide you with a knowledge about ethical principles, rules and theories used in Health Care methodology as well as legal patients’ rights. We face and run into moral dilemmas and problems every day during our life. A large amount of books hasRead MoreCritically Evaluate Medical Ethics And Legal Issues1263 Words   |  6 PagesCritically evaluate medical ethics and legal issues Introduction Medical ethics and legal issues have been a key topic in medical field for many years now. It is important for medical professionals to understand the importance of the way we care for patients, it is therefore important to be knowledgeable and aware of the medical ethics and legal issues that govern good patient care. Health care professionals must make decisions based on ethical and legal issues to performance their regular dutiesRead MoreCode Of Conduct, Care Values And Anti Discriminatory Practices1640 Words   |  7 PagesThis essay is about a dilemma of a nurse and a patient in relation to family issues and beliefs that reflects code of conduct, care values and anti - discriminatory practices, including Deontologist’s and Utilitarian’s view. Dilemma; A 12 years old girl is 22weeks pregnant and decides to have an abortion. Her parents are very religious and do not believe in sex before marriage, and would not be happy to know that their 12 years old daughter is pregnant. The girl confides in a nurse who happens toRead MoreEthics And Abortion : Abortion Essay1724 Words   |  7 PagesEthics And Abortion According to the authors of a medical dictionary called; the free dictionary, online version, â€Å"abortion is defined as the termination of pregnancy before the fetus is viable.† Viability for a fetus is usually greater than 500 grams, or prior to 20 weeks gestation as noted by those same authors. An abortion may be spontaneous, commonly referred to as a miscarriage, or induced which describes the deliberate interruption of a pregnancy. Those authors assert that it is the viabilityRead MoreThe Importance Of Acting Ethically When Working As A Nurse1318 Words   |  6 Pagesimportance of acting ethically when working as a nurse. Introduction: Ethics is an essential aspect of health care practice and those working in the nursing profession are often subject to frequent ethical dilemmas. It is essential for all nurses to be aware of the importance of ethics in health care and to practice within the ethico-legal parameters that govern the profession. However, while this is relatively easy in theory, ethics is not a black and white subject and often one’s culture, upbringingRead MoreAbortion : Ethical And Moral1495 Words   |  6 PagesAbortion Introduction Is it ethical and moral to have an abortion? The definition of abortion is â€Å"deliberate removal or deliberate action to cause the expulsion of a fetus from the womb of a human female, at the request of or through the agency of the mother, so as in fact to result in the death of the fetus† (Merriam-Webster, 2016). What about the morality of un-coerced, human abortion for our purposes abortions are voluntary, deliberate removals of a human fetus (Objections to Warren, 2016)

Wednesday, May 6, 2020

My Current Field Placement As A Social Work Intern Essay

My current field placement as a social work intern is at the Family Assessment Program (FAP). FAP is a voluntary program that aims to strengthen families and help them stay together. FAP seeks to reduce youth’s future involvement with the juvenile justice and the child welfare system. The clienteles that FAP deals with, are parents who are having difficulties with their teenage children and want assistance and guidance with changing the children’s behavior and developing a positive relationship. In addition, FAP is the last step before parent files for a Person In Need of Supervision (PINS). FAP would assess the family situation by interviewing parents and children individually and together, they determine the best suitable intervention for the family. If the intervention does not solve the issue or the child refuses to participate, then the alternative is to file a PINS to control the child’s behavior. Engaging with some families, I was able to apply four c oncepts; empathy, boundaries, social taboo and focused listening. In applying these concepts, I was able to identify my obstacles, weaknesses, strengths and develop my social work skills. The following scenarios will focus on my strategies with applying the concepts, the obstacles I encountered and ways in which I could have improved the concepts. Through self-reflection, I was able to select four cases where I was able to apply the above-mentioned concepts. Empathy. Shulman defined empathy as â€Å"helping the clientShow MoreRelatedObtaining An International Placement Interests Me2243 Words   |  9 Pagesinternational placement interests me because it would present me with an invaluable opportunity to cultivate unique skills needed for a future career in international social work. The United Nations High Commissioner of Refugees’ Community-Based Protection Unit (UNHCR CBP) Geneva placement is the perfect internship for me to develop more insight into how international policies and organizations influence our response to the needs of our global refugee population. The UNHCR CBP Geneva placement is my top choiceRead MoreWhat Do You Believe You Reached Your Goals? Essay1311 Words   |  6 Pagesexperience and time in the social work field I will continue to make improvements and continue to increase the ability to exceed each of the goals that were established in the learning contract. I am one who believes that there is always room for improvement especially for someone such as myself that has a strong desire to continue to grow. In the future, I will continue to establish professional goals that relate to the position that I obtain in the social work field to continue to increase knowledgeRead MoreTermination Of Field Practicum At Menninger s Clinic Essay2750 Words   |  11 PagesStatement from Leander Burgess Regarding Termination of Field Practicum at Menninger’s Clinic I, Leander Burgess, am an Advanced Standing Social Work Student at the University of Houston, Graduate College of Social Work. During the summer of 2016 I interviewed with Menninger’s Clinic for a Field Placement and was accepted. Menninger’s Clinic contacted me approximately a week later and asked me to interview at the Gathering Place, a psycho-social clubhouse for the chronically mentally ill. I completedRead MoreWorking With Evidence Based Practices Essay1155 Words   |  5 Pages In the field of social work, workers are constantly faced with practice issues, ethical conundrums, lack of needed supervision, and personal feelings regarding the work they do. When supervision is limited or nonexistent, one course of action could be to form a consultation group of one or more peers or mentors. This allows the social worker to receive supportive feedback and critical advice when needed. The construction of peer consultation groups can provide an opportunity to meet informallyRead MoreThe Unhcr Geneva Placement Is The Perfect Internship For Me2265 Words   |  10 PagesGeneva Placement is the perfect internship for me to develop a deeper understanding of how international policies and organizations influence our response to the needs of the global refugee population. The UNHCR’s Community-Based Protection Unit (CBP) is attractive for several reasons. Obviously, inter ning at one of the world’s most influential humanitarian organizations is exciting in itself. But more importantly, the UNHCR is my top choice for of its impactful services, capacity to challenge my macroRead MoreThe Unhcr Genevas Community Based Protection Unit ( Cbp ) Placement2139 Words   |  9 Pagesinterested in acquiring an international placement because it would present me with an invaluable opportunity to cultivate unique skills needed for a future career in international social work. The UNHCR Geneva’s Community-Based Protection Unit (CBP) placement is the perfect internship for me to develop a deeper understanding of how international policies and organizations influence our response to the needs of the global refugee population. The UNHCR is my top choice for several reasons: its impactfulRead MoreThe Ten Bsw Program Competencies Help Student Students Analyze And Evaluate Professional Development1638 Words   |  7 Pagescompetencies help social work st udents learn and integrate the NASW Code of Ethics into the classroom and field. The first competency based on identifying as a professional social worker requires constant self- reflection to ensure the NASW Code of Ethics are being followed, and to continue to develop as a professional. I consider self-reflection to be strength of mine as I log each day, and analyze each part to evaluate my strengths and weaknesses. From my log, I know what areas I need to work on and beRead MoreGlobal Health And Human Rights Essay1640 Words   |  7 PagesThrough years of studying International Relations in college, I have learned about the politics of human rights. As my knowledge in civil wars and terrorism increased, I became more compelled to address neglected injustice and victims of human rights violations. Eventually, my focus shifted to transnational issues centered on victims of the conflicts, refugees and asylum seekers. I saw my fellow classmates learning and realizing the need and v alue of defending human rights, but many of them moved onRead MoreThe Juvenile Service Department Is A Centralized Processing, Referral And Evaluation Center For All Youths Arrested Essay2013 Words   |  9 Pagesan intern at the Juvenile Services Department, I have a caseload of youth that are participating in the program, I am responsible for conducting intake assessments with the child and the child’s parent’s and record the gathered informations into the system. It is my responsibility to report the youth’s progress in the program, treatment plans, weekly/monthly progress reports, GAIN-Q, caseloads, answering phone, scheduling appointments, and clients evaluations. Further on in my field placement I willRead MoreThe Juvenile Service Department Is A Centralized Processing, Referral, And Evaluation Center Essay2071 Words   |  9 Pages As an intern at the Juvenile Services Department, I have a caseload of youth that are participating in the program, I am responsible for conducting intake assessments with the child and the child’s parent’s and record the gathered information into the system. It is my responsibility to report the youth’s progress in the program, treatment plans, weekly/monthly progress reports, GAIN-Q, caseloads, answering phones, scheduling appointments, and clients evaluations. Further on in my field placement

Emotional Intelligence And Leadership Training - 1424 Words

In this day and age companies are investing millions into leadership training in the aim of finding the right leaders for success, however it has been observed that too much importance has been given to IQ and leaders haven t been performing up to expectations. (Doe, Ndinguri and Phipps 2015). With the realisation of IQ not being the sole factor for success researchers have directed more focus into Emotional Intelligence, in fact Doe, Ndinguri and Phipps (2015) argue that emotional intelligence may be the determining factor for the success or failure of leadership. Before delving into detail about emotional intelligence the term must be understood first, according to Palmer et al .(2001) emotional intelligence is the ability to be aware about other peoples emotions as well as their own, can they motivate others, listen to others, be emotionally caring and as Thorndyke (1920) says â€Å"the ability to act wisely in human relations†. The report summarises the key research in emotional intelligence among leaders and how emotional intelligence is relevant for project managers. Emotional intelligence among leaders As a leader ones role is to steer the team or company in the right direction, to understand and interpret the organisational culture and team dynamics while also achieving targeted results and objectives. A good leader should be able to measure his own and others performance and develop team and personal capabilities. (Gandz 2005). However to be able to do this one mustShow MoreRelatedLink Between Emotional Intelligence and Cross-Cultural Leadership1033 Words   |  5 PagesH. and Karounos, T.J. (2009), â€Å"Exploring the Link between Emotional Intelligence and Cross-Cultural Leadership Effectiveness†, Journal of International Business and Cultural Studies, Vol. 1, Feb. 2009, pp. 1 – 13. Introduction Along with the globalization of business, many corporations are facing the challenge of operating in a different culture. The writers made a connection between emotional intelligence and cross-cultural leadership effectiveness to deal with this situation, this article alsoRead MoreEmotional Intelligence And Transformational Leadership1619 Words   |  7 PagesDiscussion The findings show that emotional intelligence and transformational leadership can increase the performance of managers as well as their followers. The transformational leadership is based off leaders motivating employees to perform better in their organizations. The transformational leader is linked to traits such as charisma which is then linked to trust and compassion. Moreover, transformational leadership was linked with Big Five Personality Traits extraversion and agreeableness.Read MoreEmotional Intelligence Training For Increased Success1351 Words   |  6 PagesEmotional Intelligence Training for Increased Success The global business environment is complex and dynamic. Everyone working in business across the globe is experiencing stress (Singh Sharma, 2012). Due to the quick pace at which decisions may need to be made, understanding the impact of mood and emotions on decision making is important for leaders (Brabec, 2012). Decisions are made at all levels within the organization, therefore emotional intelligence skills are required for everyone withinRead MoreThe Relationship Between Emotional Intelligence And Leadership1232 Words   |  5 Pagesarticles to discuss the relationship between emotional intelligence and leadership. I will discuss the reasoning for the credibility of each source chosen for this paper, summarize interesting information provided by each article, discuss any findings related to the topic, and discuss how the topic will influence my future behaviors. Overview of Credible Sources Before I can start discussing the relationship between emotional intelligence and leadership, I must explain why the three sources used inRead MorePersonal Statement On Emotional Intelligence1593 Words   |  7 Pages Emotional Intelligence Tanveer Vora 1610793 University Canada West Professor: Dr. Michele Vincenti MGMT601 Leadership in the Global Context 16th January 2017 Abstract The paper discusses about the emotional intelligence, which has various factors. The factors are self awareness, motivation, self regulation, social skills and empathy. In case of effective leadership, these factors plays major role. However, emotional intelligence is teachable to improve the personal skills and personality.Read MoreCompetitive Advantage And Stress Of Organizational Health1459 Words   |  6 Pagescustomer base, product quality, reputation, leadership, organizational culture, innovation, intellectual property, patents, leadership, and customer or governmental relationships, to reduce and/or eliminate threats, such as substitution, buyer power, or new entry, and increase seller power (Ployhart, 2012; Ramesar, Koortzen, Oosthuizen, 2009; Singh, 2009; Srivatvaa Martinette, 2013). Consequently, rather it is innovation, product quality, leadership, relationships, or patents organizations cannotRead MoreEmotional Inelligence Essay examples1669 Words   |  7 Pagesye ars emotional intelligence has become one of the hottest topics between organizations. Researches have been working on this topic for time to time, to demonstrate or refute the importance of feelings. In the beginning common thoughts from managers and or supervisors were; emotions are in the way; emotions try to keep us from making good decisions; emotions increase a lack on focusing. Fortunately, an indeed research takes emotional intelligence to an ultimate ideal in which intelligence is basedRead MoreEmotional Intelligence and Empathy in Leadership Essay example1702 Words   |  7 Pageseducation is lacking in regard to the study of emotional intelligence and empathy within their business leadership programs. Empathy is defined as, â€Å"the feeling that you understand and share another persons experiences and emotions: the ability to share someone elses feelings,† (Merriam-Webster, 2014). Emotional intelligence and empathy will be observed throughout this paper as a re sult of two separate studies, each were conducted with regard to leadership. Please note that the first article focusesRead MoreEmotional Intelligence Impact An Employees Communication And Success1329 Words   |  6 Pageswill address how emotional intelligence impacts an employees’ communication and success in an organization. Recognizing, understanding and managing the verbal and non-verbal emotions of themselves and others can positively impact their performance and the organizations. Emotional intelligence could be the missing link from taking an organization from good to great. Emotional Intelligence: The Missing Link The understanding of how individuals with average intellectual intelligence (IQ) could outperformRead MoreChallenging Situations Abound In Leadership Roles, And1492 Words   |  6 Pagessituations abound in leadership roles, and these situations can create emotionally demanding or stressful responses that have an effect on leaders and members alike (Siebert-Adzic, Soares, Jacobs, 2012). Leaders that can leverage their strengths, attributes, or other characteristics may increase their chances of exceling when these events do occur (Arnold, Connelly, Walsh, Martin Ginis, Ginis, 2015). One area of interest for coping with tense emotional situations is emotional intelligence, specifically

Accounting for Managers Financial Performance

Question: Discuss about the Accounting for Managers of Financial Performance. Answer: Introduction Interpretation of company financial performance over the years using ratios provides the increase or decrease in overall performance of company. Competitor analysis is also important to measure the relative performance of company in the same industry. The Present report has been undertaken in order to conduct financial analysis of publically listed companies for developing an in insight into its financial performance in year 2014 and 2015. The company selected in the report for the purpose is Qantas Airlines and Virgin Australian Airlines. Company Description Qantas Airlines Qantas Airways Limited is an Australian based company that offers both international and domestic transportation and freight services globally. The company has presence mainly in Australia, New Zealand, Asia, the United States and the United Kingdom. It has a workforce diversity of about 28,000 people belonging to various ethnic backgrounds. The company is headquartered in New South Wales and is publically traded on Australian Securities Exchange (ASX) with the code QAN (Qantas, 2016). It has a fleet of about 299 aircraft that includes about 11 freighters and provides services to domestic as well as international destinations. Qantas is recognized as largest domestic as well as international airline of Australia and thus has attained a strong brand position in the country as well as on a global level. The good brand position of the company is due to its excellent quality customer services in terms of safety, operational reliability, engineering and maintenance (Annual Report 2015: Qa ntas Airlines Limited). The company conducts its transportation services through the use of two airline brands that are Qantas and Jet Star. The main objective of the company is to expand its business operations through continually investing in new aircraft and products for optimizing operational efficiency and become one of the worlds largest airlines. The company is also recognized as one of the topmost airline of Asia-Pacific region (Qantas, 2016). The company aim to compete effectively across all sectors of the aviation marketplace and become one of the strongest global brands in the aviation sector. Virgin Airlines The strongest competitor of Qantas airline is Virgin Australian Airlines Limited in Australia. Virgin Australian is airlines based in New Zealand and is a fully owned subsidiary of Virgin Australian Holdings Limited (Annual Report 2015: Virgin Australia Limited). The company was previously known as Pacific Blue Airlines (NZ) Limited and was renamed as Virgin Australian Airlines (NZ) Ltd in the year 2011 (Virgin Australia Holding Limited, 2016). The company mainly operates its transportation services between Australian and New Zealand and too many other international destinations. The main international destinations of the airline include Brisbane, Gold Coast, Middle East, Pacific Island and South East Asian routes. Virgin airline is emerging as one of the strongest competitor of Qantas airlines having its own Boeing 737 and Boeing 777 aircraft to provide high quality services to the customers. It has also undertaken loyalty program similar to that of Qantas Airline and is also engage d in the operation of both domestic as well as international business (Virgin Australia Holding Limited, 2016). Thus, Virgin airline is also one of the strongest brands in Australia in aviation sector. Financial Analysis of financial report of Qantas Airlines and its competitor Virgin Airlines In this part of section interpretation of financial statements of the Qantas Airlines and its competitor Virgin Airlines will be performed in order to provide complete view of financial performance of the both the companies. The main motive is to evaluate the performance of Qantas Airlines and it is the reason why financial performance of Qantas Airlines is compared with the performance of Virgin Airlines. It will provide the actual performance of Qantas Airlines when compared with the industry average. In order to perform the financial statement interpretation financial data have been extracted from the annual report of both the companies for the years 2014 and 2015. Both the annual reports have been taken from the company websites and necessary details are presented in section of analysis. Financial Ratio Analysis Using ratios analysis as the financial tool to interpret the financial performance of the entity helps investors to gain the insight view of company overall performance in current year as compare to past years. Liquidity Analysis The analysis of liquidity ratios helps to know the company ability to pay the short term liabilities over the one year time period. Short term liabilities means liabilities that have to be paid in the one year span of time. The most common ratios that are used to determine the liquidity position of the company are current ratio and quick ratio. It can be said that higher the values in liquidity ratio means higher safety of margin and it shows the perfect position of company to meet their short term liabilities (Brigham and Ehrhardt, 2011). Items 2014 2015 Qantas Airways Limited Current Assets $ 4,932,000,000.00 $ 5,049,000,000.00 Current Liabilities $ 7,525,000,000.00 $ 7,470,000,000.00 Inventory and Prepaid Expenses $ 317,000,000.00 $ 431,000,000.00 Quick Assets $ 4,615,000,000.00 $ 4,618,000,000.00 Cash and Cash Equivalents Virgin Australia Holdings Ltd Current Assets $ 1,235,000,000.00 $ 1,586,000,000.00 Current Liabilities $ 1,921,000,000.00 $ 2,300,000,000.00 Inventory and Prepaid Expenses $ 113,000,000.00 $ 113,000,000.00 Quick Assets $ 1,122,000,000.00 $ 1,473,000,000.00 Ratios Formula 2014 2015 Liquidity Ratio Current Ratios Current Assets/Current Liabilities Qantas Airways Limited 0.66 0.68 Virgin Australia Holdings Ltd 0.64 0.69 Quick Ratio Quick Assets/Current Liabilities Qantas Airways Limited 0.61 0.62 Virgin Australia Holdings Ltd 0.58 0.64 Current Ratio Current ratio represents ratio of current assets divided by the current liabilities. Current refers to the assets that are convertible into cash and cash equivalents within one year span of period. It is ability of company that how frequently inventory can be converted into cash and cash equivalents. Current liabilities represent the amount that have to reimburse within one year time through using the working capital. On calculating the current ratio of Qantas Airlines for the year 2014 it has been found that results drawn are not satisfactory and it continue the same position in year 2015 through minor increase in proportionate values of current assets. The current ratio of Qantas Airlines in year 2014 was 0.66 and it increased to 0.68 in year 2015 that shows company has no sufficient current assets to pay the current liabilities (Annual Report 2015: Qantas Airlines Limited). On the other hand current ratio of Virgin Airlines was 0.64 in year 2014 and 0.69 in year 2015 (Annual Report 2015: Virgin Australia Limited). It reflects that both companies maintain same level of current assets in both the year. Overall comparison shows that current ratios of both the companies are not satisfactory and they need to put more focus on the level of working capital. Quick Ratio Quick ratio is also called as acid test ratio and it is similar to current ratio as it also measures the liquidity position of the company. The only difference between current ratio and quick ratio is that quick ratio measures the liquidity position in much better way as compare to current ratio. Quick ratio ignores inventory and prepaid expenses they cant be treated as cash and cash equivalents due to time taken by inventory to be turned into cash. Both Qantas Airlines and Virgin Australian Airlines keeps low level of inventory as both companies belong to service sector that requires no inventory or very low inventory depending upon the level of service they provide. Quick ratio of Qantas Airlines was 0.61 and 0.62 in year 2014 and 2015 respectively and on the other hand the quick ratio of Virgin Australian Airlines was 0.58 and 0.64 in year 2014 and 2015 respectively (Annual Report 2015: Qantas Airlines Limited). Looking at values of quick ratio in both the years it can be said that liquidity position of Qantas Airlines and Virgin Australian Airlines was not satisfactory and there is need to maintain good amount of current assets in order to easily render the amount of current liabilities (Annual Report 2015: Virgin Australia Limited). Profitability Analysis Profitability analysis checks the companys ability to earn the revenue through use of capital employed by the owners of the company. It tells the company profitability position over the period of time generally one year through measuring the net profit earned using assets and equity of the company. The two profitability ratios that are used to measure the earning capacity of the company are net profit margin ratio and return on equity (Buckle, Buckle and Thompson, 2004). Items 2014 2015 Qantas Airways Limited Net Revenue $ 15,155,000,000.00 $ 15,532,000,000.00 Gross Profit $ 7,552,000,000.00 $ 8,389,000,000.00 Net Profit $ (2,843,000,000.00) $ 560,000,000.00 Shareholders Equity $ 2,862,000,000.00 $ 3,442,000,000.00 Virgin Australia Holdings Ltd Net Revenue $ 4,303,000,000.00 $ 4,706,000,000.00 Gross Profit $ 3,095,000,000.00 $ 3,514,000,000.00 Net Profit $ (356,000,000.00) $ (111,000,000.00) Shareholders Equity $ 1,048,000,000.00 $ 1,077,000,000.00 Ratios Formula 2014 2015 Profitability Ratios Return on Equity Net Profit/Equity Qantas Airways Limited -99.34% 16.27% Virgin Australia Holdings Ltd -33.97% -10.31% Net Profit Ratio Net Profit/Revenue Qantas Airways Limited -18.76% 3.61% Virgin Australia Holdings Ltd -8.27% -2.36% Net profit margin ratio Net profit Margin ratio tells the profitability position of the company by reflecting the percentage of profits earned by the company from its operations after meeting all the expenses. It is vital to note that positive profit are essential to keep pace with the on going market conditions and to provide tough competition to the competitors. Here net profit ratio of Qantas Airlines and Virgin Australian Airlines was analyzed and it was found that both have poor profitability in both the years. It was Qantas Airlines that has earned positive 3.61% net profit in year 2015. Apart from it, both Qantas Airlines and Virgin Australian Airlines have faced negative returns in both the years. It shows that airlines industry in Australia had faced tough time during year 2014 and 2015. Return on Equity Return on equity is one the most important profitability ratio as it tells profit earned by using the own capital i.e. share capital. It shows the percent of profits earned using the shareholders equity. It has been found that both Qantas Airlines and Virgin Australian Airlines have employed very share capital as compare to debt capital. It shows that both the companies earn maximum part of revenue using the debt capital as the source of finance. Return on equity was -99.34 % in year 2014 and 16.27 % in year 2015 in case of Qantas Airlines whereas in case of Virgin Australian Airlines it was -33.97% in year 2014 and -10.31% in year 2015 (Annual Report 2015: Virgin Australia Limited). Overall analysis shows that profitability position of both the companies had been worst in year 2014. In year 2015, there was some improvement in profitability position in case of Qantas Airlines but no change was recorded in case of Virgin Australian Airlines (Morning Star: Qantas Airlines, 2016 and Vir gin Australia Holding Limited, 2016). Asset Efficiency Analysis Asset efficiency analysis is important as it tells how asset has been exploited by the companies to earn the maximum revenue. It has been noted the airline industry in Australia have faced many downturn due lack of passengers and increase in price of crude oil internationally. It is the reason why airline companies in Australia fail to utilize 100% of its assets and it results in decrease in revenue in year 2014 and 2015 (Houston and Brigham, 2009). Items 2014 2015 Qantas Airways Limited Net Revenue $ 15,155,000,000.00 $ 15,532,000,000.00 Fixed Assets $ 12,386,000,000.00 $ 12,481,000,000.00 Inventory $ 317,000,000.00 $ 431,000,000.00 Virgin Australia Holdings Ltd Net Revenue $ 4,303,000,000.00 $ 4,706,000,000.00 Fixed Assets $ 3,444,000,000.00 $ 4,194,000,000.00 Inventory $ 113,000,000.00 $ 113,000,000.00 Ratios Formula 2014 2015 Asset Efficiency Ratios Fixed Asset Turnover Turnover/Fixed Asset Qantas Airways Limited 1.22 1.24 Virgin Australia Holdings Ltd 1.25 1.12 Sales to inventory Turnover Turnover / Inventory Qantas Airways Limited 47.81 36.04 Virgin Australia Holdings Ltd 38.08 41.65 Fixed assets turnover ratio Fixed asset turnover ratio tells amount of sales earned upon total fixed assets applied by the company in the business. It shows the efficiency of fixed assets and how frequently they provide the revenue through proper use of assets. Larger the ratio will be more will be the efficiency of the fixed assets. In airline industry fixed assets make up the most important part for earning the revenue therefore this ratio is vital for he airline industry. The calculation of fixed asset ratio shows that Qantas Airlines has earned 1.22 times the revenue when compared with fixed assets in year 2014 while Virgin Australian Airlines has earned 1.25 times the revenue using its fixed assets in the same year (Annual Report 2015: Qantas Airlines Limited). It shows that performance of both companies is almost equal in year 2014 (Annual Report 2015: Virgin Australia Limited). Making comparison of ratio in year 2014 with ratio of year 2015, it can be said that performance of Qantas Airlines was almost e qual with ratio of 1.24 times in year 2015 while there was decrease in fixed asset ratio of Virgin Australian Airlines in year 2015 by 10.40%. It reflects that performance of fixed assets was decrease in case of Virgin Australian Airlines in year 2015. Other analysts believe that fixed assets turnover ratio behaves as the vital source for measuring the financial health of the airlines companies. As per the opinion of three party analysts the performance of Qantas Airlines was better when compared with the performance of Virgin Australian Airlines in year 2015 (Yahoo Finance: Qantas Airways Limited, 2016 and Yahoo Finance: Virgin Australia Holdings Limited, 2016). Sales to Inventory Ratio Sales to inventory ratio measures the performance of management through evaluating the use of inventory to make it convert in revenue. This ratio measures the efficiency of inventory for being convertible into revenue. More the ratio will be higher will the efficiency of inventory. In airline industry companies generally keep low level of inventory as main source of income comes from the fixed asset hold by the company. A sale to inventory ratio of Qantas Airlines was 47.81times in year 2014 and that of Virgin Australian Airlines was 38.08 times in the same year. It shows that performance of Qantas Airlines was far better than Virgin Australian Airlines in year 2014 as it was able to utilize maximum inventory to convert them into sales. In year 2015, the performance of Qantas Airlines goes down and it has not able to keep the same pace as in year 2014 (Annual Report 2015: Qantas Airlines Limited). The sale to inventory ratio of Qantas Airlines in year 2015 was 36.04 times showing a d ownfall by 24 %. While the sales to inventory turnover ratio of Virgin Australian Airlines in year 2015 was 41.65 times, reflecting increase in efficiency of inventory being used in year 2015 (Annual Report 2015: Virgin Australia Limited). Capital Structure Analysis Capital structure analysis helps to evaluate the proportion of capital being equity and debt used by the companies as the major source of finance their operation and to purchase the fixed assets. In the airline industry the major expenses occurred on purchase of fixed asset being planes for commercial purposes. Some part of capital is also been used in working capital for smooth working of operations (Bull, 2007). Items 2014 2015 Qantas Airways Limited Debt $ 6,931,000,000.00 $ 6,618,000,000.00 Equity $ 2,862,000,000.00 $ 3,442,000,000.00 Total Assets $ 17,318,000,000.00 $ 17,530,000,000.00 Virgin Australia Holdings Ltd Debt $ 1,711,000,000.00 $ 2,403,000,000.00 Equity $ 1,048,000,000.00 $ 1,077,000,000.00 Total Assets $ 4,679,000,000.00 $ 5,780,000,000.00 Ratios Formula 2014 2015 Capital Structure Ratio Debt Equity Ratio Debt/Equity Qantas Airways Limited 2.42 1.92 Virgin Australia Holdings Ltd 1.63 2.23 Debt Ratio Debt /Total Assets Qantas Airways Limited 0.40 0.38 Virgin Australia Holdings Ltd 0.37 0.42 Debt Equity ratio Debt equity ratio shows the proportionate amount of debt and equity being employed by the company in this business. Company must use equity as the major source of capital as compare to debt capital as it requires paying fixed rate of interest over the years. On the other hand equity is the owner capital and does involve payment of interest at regular intervals. Ratio of below 1.00 represents ideal proportion of capital being employed. Debt equity ratio of Qantas Airlines was 2.42 times I year 2014, while it was 1.63 times in case of Virgin Australian Airlines (Annual Report 2015: Qantas Airlines Limited). Therefore, it shows Qantas Airlines uses more debt capital as compare to Virgin Australian Airlines. In year 2015, the debt equity ratio of Qantas Airlines was 1.92 reflecting the decrease in debt capital when compared with year 2014. On the other hand, there was increase debt equity ratio Virgin Australian Airlines in year 2015 by 36.80% showing that company has raised debt capital to finance either purchase of fixed assets or to provide capital for smooth working of operations. Debt Ratio Debt ratio tells amount of debt the company holds as against the assets. Higher debt ratio represents the sign of leverage firm being charge on the fixed assets of the company. Debt ratio of Qantas Airlines was 0.40 in year 2014 and 0.38 in year 2015. On the other hand, debt ratio of Virgin Australian Airlines was 0.37 in year 2014 and 0.42 in year 2015. It shows that both companies keep more than 35 % of debt capital as the charge against fixed assets. Overall capital structure of both the companies was not sound as they use debt as the major source of capital and there was very less dependency on equity capital as source of finance (Annual Report 2015: Virgin Australia Limited). Market Performance Analysis Market performance analysis provides the vital source of information for the investors as it measures the relative performance of the companies based on market information. Ratios Formula 2014 2015 Market performance Ratio Earning Per Share Net profit for shareholders / Number of Shareholders Qantas Airways Limited $ (1.37) $ 0.27 Virgin Australia Holdings Ltd $ (0.11) $ (0.03) Earning per share Earning per share ratio tells net profit earned by the company over total number of shares issued in the market. It is calculated as net profit attributable to shareholders divided by total number of common shares issued in the market (Sagner, 2010). The EPS of Qantas Airlines was negative $ 1.37 in year 2014 and it got increased to $0.27 in year 2015. While in case of Virgin Australian Airlines the EPS was negative $0.11 in year 2014 and negative $0.03 in year 2015. Market performance of Qantas Airlines was better in year 2015 as compare to market performance of Virgin Australian Airlines in year 2015 (Morning Star: Qantas Airlines, 2016 and Virgin Australia Holding Limited, 2016). Conclusion Financial analysis using ratio helps to get the overall performance of company in the current year as compare to previous year. In his report financial performance of Qantas Airlines was evaluated for year 2014 and 2015 and it was than compared with performance of Virgin Australian Airlines. It was found that overall performance of Qantas Airlines was better than Virgin Australian Airlines in year 2015 and there was scope of increase in financial performance in case Qantas Airlines. It is recommended to investors to hold the shares of Qantas Airlines in order to earn a better return in future period. References Annual Report 2015: Qantas Airlines Limited. Retrieved 14 October, 2016, from https://www.qantas.com.au/infodetail/about/investors/2015AnnualReport.pdf Annual Report 2015: Virgin Australia Limited. Retrieved 14 October, 2016, from https://www.virginaustralia.com/cs/groups/internetcontent/.../annual-report-2015.pdf Brigham, E. F. and Ehrhardt, M. C. 2011. Financial Management: Theory and Practice. Mason: Cengage Learning. Buckle, M.J., Buckle, M. and Thompson, J. 2004 . The UK Financial System. 4th ed. New York: Manchester University Press. Bull, R. 2007. Financial Ratios: How to use financial ratios to maximise value and success for your business'. UK: Elsevier. 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