Saturday, March 7, 2020

How to Write an Essay on a Teacher

How to Write an Essay on a Teacher It’s a rather complicated task to write an essay on a teacher because only a few people can really understand how difficult and challenging this profession is. A teacher should not only be an expert in teaching but also to be ready to face various problems and cope with them. A good teacher does everything possible to create a comfortable atmosphere at a class that can stimulate students’ creativity and thinking. How to Start? The most important thing is to find a topic that can provoke discussions. That shouldn’t be just â€Å"yes† or â€Å"no† issues. It must let people agree or disagree with the author. In addition, it should be not only provocative but specified as well. It’s better to avoid too general statements and keep to the problem which one can support with solid and trustworthy evidence, facts, and statistics. For example, the topic may sound like â€Å"What Type of Teacher Do Contemporary Students Need: Authoritative, Liberal or Democratic?† Different parents think differently. Such a topic can make people participate in debates trying to prove their point of view. The Next Step Is a Proper Structure Each academic assignment has a required structure. An essay should include an introduction, body, and conclusion. The introduction presents the problem and explains its nature and/or possible solution. There should be also a thesis statement in the introductory part. For example, â€Å"Today, more and more teachers prefer the democratic way of teaching to the authoritative one. As a result, students become uncontrolled and start losing interest in their study.† A writer should also strike the reader from the very beginning using rhetorical questions, citations, analogies, anecdotes, captivating stories, etc. The body is the largest part of the essay because it includes the whole information on the topic in details. The research is to be thorough and correspond with the chosen topic. The conclusion sums everything up and can give the idea for further research of the problem. This part of the essay should also be impressive. When the first and the last words hit the target auditory, the whole essay will have a chance to get A+. For example, â€Å"It doesn’t matter what type of teaching a teacher chooses. If a person is really good at teaching, students will be inspired with hope, lit with rich fancy, and infused with love to learning.† Other Things to Mention When dealing with academic writing a person should pay attention to each detail. A student must learn all the requirements and follow them. There are different writing styles (APA, MLA, Chicago, etc.), and each of them needs some specific spacing, font and its size, the arrangement of the bibliography section, footnotes, title page, and a number of other details. It’s also necessary to sound logical and avoid making grammar mistakes. Each part of the essay must support the main idea of the paper and there must be a logical connection between them. One should also arrange appendix and supporting materials if necessary.

Thursday, February 20, 2020

Chinese Accounting Standards Essay Example | Topics and Well Written Essays - 1000 words

Chinese Accounting Standards - Essay Example China is world's second largest economy. Over a period of liberalization Chinese accounting standards have shifted from a centrally control economy to an open market economy. But the developments of Chinese accounting standards have been highly influenced from the political environment of the country. Because of these constraints there are still major differences between Chinese accounting framework and FIRSs of International Accounting Standards (IAS). In PRC, Ministry of Finance sets out accounting standards. These government-defined standards are often less value relevant as the government has its own political compunctions [5]. This situation is again complicated due to weak capital market infrastructure. The main areas where there is appreciable difference between PRC GAAP and IFRS includes the valuation of fixed assets over a period of time i.e. depreciation measurements and the amortization of intangible assets, the methods of accounting for income taxes, measuring goodwill and intangible assets, amortization of goodwill and intangible asset, mineral rights, the expenditure to explore develop and extract minerals, and research and development costs [2]. Though Ministry of Finance (MOF) of Peoples Republic of China is trying to fill in the gaps between Chinese GAAP and IFRS there are still many areas where these two accounting standards are differentiate... areas of inventory and temporary investment valuation, provision for bad debts, depreciation and revaluation of fixed assets, and amortization of intangible assets. Chinese GAAP rules require the inventories for an organization to be calculated at historical costs whereas IFRS rules evaluate the inventories according to lower of cost and market (LOCAM) principles. According to Chinese GAAP long-term investment companies having less than 50% share holding can choose among cost and equity methods for their financial auditing. Chinese GAAP is followed for managerial opportunistic purposes though it is quite similar to IFRS in practice. Chinese GAAP allows unrestricted use of accruals by capital expenses for operating leases and unsymmetrical allocation of costs between finished and running work processes. Ways in which Chinese rules differ from IFRS There are many differences between Chinese GAAP and IFRS arising due to non-accounting government regulations. Financial Rules for Enterprises framed by MOF of PRC defines the rules for cost depreciation, residual value and useful life of different fixed assets. Chinese GAAP accounting practices are more practical in measuring depreciation of assets; it is based on historical cost of assets or measures the inventory at a planned price, which is in contrast to fare value oriented valuation of IFRS standards [2]. Financial Rules for Enterprises stases that assets of certain categories should be amortized over a period of minimum ten years, which may be an impractical dictate as these assets needs more than ten years to yield any economic benefits. Many industries related to welfare, pension and other special reserves generally require more than ten years to give any tangible economic benefits. The way Chinese accounting

Tuesday, February 4, 2020

The Art of Negotiation - reflection paper Essay Example | Topics and Well Written Essays - 500 words

The Art of Negotiation - reflection paper - Essay Example At a personal level, the thought of bargaining or negotiation does not cross my mind on an everyday basis. However, Moore and Woodrow (2010) contend that negotiation is an ongoing process in the life of an individual. This is because individuals always strive to make their lives better in one way or another. In the process, negotiation becomes critical as far as realizing the underlying outcomes is concerned. In this respect, it is eye opening to learn that bargaining and negotiating is a significant part of an individual’s experiences over time. Whether negotiation takes place at an individual, social, economic, legal, political, or business level, it is evident that some individuals are better negotiators than others are (Thompson, 2009).An actual negotiator usually has certain characteristics. They are good listeners with high and reasonable expectations. Regardless of having a good knowledge of the topic, they give time to the other party to express themselves. To add on, they usually have the willingness to prepare on the area of discussion and are people of very high integrity (Kramer, 2001). In other words, the strategy and approach employed in negotiations are critical to the expected results. The success, effectiveness, and efficiency of the negotiator determine what the negotiator gains at the end. This is because the primary goal of negotiating or bargaining is emerge a winner as opposed to a loser. However, it is important to point out that negotiations encompass both winning and losing depending on the skills of the persons involved. The art of negotiation in the business world usually has several steps. The first step is preparing on the right strategy. This mainly involves developing an intense knowledge for the matter at hand. With all the relevant knowledge it is easy for someone to negotiate and answer any question that may arise.

Monday, January 27, 2020

How Is Readability Important To Writability?

How Is Readability Important To Writability? User-defined operator overloading can harm the readability of a program if the user doesnt take into account differences in operands and possible confusion between the function of an operator. Consider if a user defined to mean the logical AND statement in Boolean logic. Someone else might believe to be the address of a variable such as the case in a language like C. It would make the code difficult to understand for a reader as well as make it difficult for a compiler to catch potential errors when the two functions of the get mixed up. What is aliasing? Aliasing is having two or more distinct names that can be used to access the same memory cell. It is useful in that it allows a programmer more freedom to access data but it also can be dangerous in that aliasing can lead to a lot of errors especially if a programmer doesnt do a good job of keeping track of these names or pointers to a memory cells. How is readability important to writability? Readability is important to writability because if a programming language is difficult to read and understand then it can be difficult for a programmer to create new code that might need to interact or use other code. Often times code needs to be modified and if a program is difficult to read then it is difficult to add new code to it. What are the three fundamental features of an object-oriented programming language? The three fundamental features of object-oriented programming are encapsulation, inheritance and polymorphism. Encapsulation promotes the concept of information hiding, which is useful because it protects information from being changed or altered by other parts of a program. Inheritance allows one to reuse existing software so it allows significant improvement in productivity. Polymorphism allows data types and function to belong to more generic classes thus allowing for different data types to be processed in a uniform manner. What are three general methods of implementing a programming language? One method is compiler implementation in which programs are translated into machine language. Another method is called pure interpretation in which programs are interpreted by an interpreter. A third implementation method is called a hybrid implementation in which high-level language programs and translated to an intermediate language for easier interpretation. What arguments can you make for the idea of a single language for all programming domains? If there is only a single language for all programming domains this simplifies code and increases readability because everyone would learn the same language and have a common understanding of symbols and functions. There are no additional costs of having to train programmers in multiple languages and software would be easier to integrate since everything would be written in the same language. What arguments can you make against the idea of a single language for all programming domains? Different programming languages have different strengths and weaknesses and using a single language for all programming domains can make things more difficult especially when programming in a different language might be easier and more suitable. For example a functional programming language would be ideal for applying functions to given parameters but not a very good way of representing objects in the real world as opposed to object oriented programming. Some programs are more reliable in that they catch errors but at the cost of execution time and run time speed. Others run quickly and efficiently but are more prone to errors. Having a choice of languages makes accomplishing a certain task easier. What common programming language statement, in your opinion, is most detrimental to readability? One of the most common programming language statements that is detrimental to readability is the conditional statement such as an if, while, etcà ¢Ã¢â€š ¬Ã‚ ¦ especially if it involves compound statements and or nested conditionals. I believe this is detrimental because often times conditional statements involve the reader of a code having to scroll up and down to follow what goes next. This is especially true with older languages that use the goto statement or ones that use the break command to leap out of a given conditional statement to a line further down or up. I personally find it even more difficult with nested loop statements because one has to recognize layers of conditionals and even more so in languages like C or Java that use brace marks to end compound statements. Sometimes a reader will forget which loop is running or will have a difficult time debugging when forgets to use a brace mark and the conditional statements overlap. Java uses a right brace to mark the end of all compound statements. What are the arguments for and against this design? One of the arguments for the usage of a right brace mark to end all compound statements is that it keep the syntax simple for compound statements and it saves a programmer time for not having to write extra characters to denote the end of a compound statement. One of the arguments against using braces to end all compound statements in Java is that its more detrimental to readability. Its more difficult to determine which different compound statement (while loop, for loop, à ¢Ã¢â€š ¬Ã‚ ¦) is ending if you use a right brace mark to end all of those statements. This can be especially troublesome if you use many different types of multiple compound statements. Languages like Ada dont use right brace marks to end compound statements and that language has greater readability in this case. For example in Ada end if determines the ending of an if statement, and end loop determines the end of a loop. Many languages distinguish between uppercase and lowercase letters in user-defined names. What are the pros and cons of this design decision? One of the arguments in favor of distinguishing between upper and lowercase letters in user-defined names is that it helps maintain code readability. For example if POINTER, Pointer, and pointer were distinct names that denoted different entities, then it might confuse someone reading the code. One of the cons of languages distinguishing between uppercase and lowercase letters is that it could hurt writability by making it harder for a programmer to code. For example if a programmer used MyString as a user name, then that programmer would have to remember that special case usage since Mystring, and mystring would not be recognized. 10) What are the arguments for writing efficient programs even though hardware is relatively inexpensive? As hardware costs decreased the major cost of computing shifted to programmer costs in software. Programs were being used more and more for larger and more complex tasks and thus having efficiently written programs saved on computing costs. Companies found out that programming language deficiencies such as incomplete type checking and poorly designed control statements led to lower programmer productivity. Write an evaluation of some programming language you know, using the criteria described in this chapter. Readability In terms of readability, Java has some issues with simplicity with respect to readability. There is feature multiplicity in Java as shown in the textbook with the example of count = count + 1, count++, count +=1 and ++count being 4 different ways to increment an integer by 1. Another problem is operator overloading since java allows some operators such as the + sign to add integers, floats, and other number types. One of the good things about Javas overall simplicity is that the basic constructs follows that of the C and C++ family, thus its relatively similar for people who know those languages. Control statements in java have higher readability than old BASIC and Fortran programs because they can use more complex conditionals like for loops. There is no need for goto statements that have the reader leaping to other lines of code that could be far away or out of order. However, the use of braces to designate the starting and stopping points of all compound statements can lead to som e confusion. Java has 8 primitive data types: Boolean, char, byte, short, int, long, float and double and has no pointer types. Data types and structures can be specified to a high degree. Writablity Java has a fair bit of orthogonality in that its primitive constructs can be used in various different ways. Because Java is an imperative language that supports object oriented programming, it can be fairly complex. Java supports data abstraction so it would be easier to create a binary tree in java with its dynamic storage and pointers than in a language like Fortran 77. Java also has a for statement which is easier than using a typical while statement. Java is a high level programming language so specifying details like memory allocation are unnecessary due to javas dynamic array system. Reliablity Java uses a type checker at compile time which virtually eliminates most of the type errors during run time. Its much improved over a program like C especially with respect to allocation and de-allocation of memory. It might be a little more cumbersome to get around the errors of Java but this insures that programmers dont screw up the code and possibly computer like what could happen with an inexperienced programmer in C. Java also has extensive exception handling and can check for and throw for several different documented exceptions. Java restricts the amount of aliasing from its predecessor C to allow for greater reliability. With respect to cost, Java has a fairly extensive library so it can be difficult for people to learn all the aspects of the language. Writing a simple program in Java is rather difficult due to the declaration of the public class and the execution statement public static void main (String[] args) {à ¢Ã¢â€š ¬Ã‚ ¦}. However Javas support of encapsulation allo ws multiple programmers working on a project to collaborate without messing up each others code. Different parts can be designated as public, private, protectedà ¢Ã¢â€š ¬Ã‚ ¦ and thus access can be regulated. Java also has a free complier/interpreter system thus it is more widely used than an expensive compiler. Some programming languages, for example, Pascal have used the semicolon to separate statements, while Java uses it to terminate statement. Which of these, in your opinion, is most natural and least likely to result in syntax errors? Support your answer. Personally I feel that Pascals usage of the semicolon to separate statements is rather counterintuitive but possibly its because I learned the usage of the semicolon to terminate statements in C before I learned Pascal. In Pascal one needs to look ahead and identify whether or not the next line is a statement before putting a semicolon. This can be a hassle because requires a programmer to go back and change code before adding new code. For example if use had a program in Pascal that had a simple if statement If x = 0 then Answer:=1; Then in Pascal if you wanted to add an else clause you would have to go back and delete the semicolon because an else clause is not considered a new statement. If x = 0 then Answer:=1 Else Answer:=2; Some Pascal compilers will catch wrongly placed semicolons and declare them as errors. It also means that a programmer needs to be able to recognize what is and what is not a statement thus it hurts writablity. Of course, other requirements in Java such as the usage of parenthesis around the conditional or the usage of braces around the compound statements can also be confusing. However I think its easier to remember not to put a semi-colon after a right brace than it is to have to watch out for not putting it after each statement. The relative consistency of Java is more intuitive than the structure of Pascal.

Sunday, January 19, 2020

Project Charter

Redesign network topology in preparation for phase 2 Phase 2 Replace edge switches (I. E. Server, PC, Phone stacks) with viable Ethernet solution Increase bandwidth by using fiber instead of copper connections between the edge devices and the core routers Objectives this refresh we will be able to take advantage of newer technology that has been introduced over the past 10 years. Another goal is to increase uptime by looking into a more redundant, robust solution. Our goal, to achieve axes.Business Need To provide our customers service above and beyond their current expectations we need a modern network. This network should have the ability to expand as our company grows. Faster ports and newer technology to drive us into the next decade. Resiliency and redundancy will play a large part, helping us achieve our goal of axes. Project Manager and Stakeholders Project Manager / Principal Infrastructure Engineer Person Network Engineer – Person External Company – Person Stak eholders – Internal/external customers Milestones Request for Information Out Request for Purchase OutBudget Numbers presented POP for Phase 1 Implementation of Phase 1 POP for Phase 2 Implementation for Phase 2 Budget – Person Network Architect – This project is a high budget project spread out over the course of 2 years/ 2 phases. Approximate cost $600,000 for Hardware, Service and outside expertise. User Acceptance Criteria/Quality What are the minimum success criteria as defined by the key stakeholders? High-Level Project Assumptions The Data network is currently out of warranty and End of Life, support can be obtained for a premium, but no patches will be created.High-Level Project Constraints Time – With the company striving for axes we need the proper downtime to implement the solution Exclusions and Boundaries Core Routers Edge Switches Redesign of network topology Increase performance on the network Out of Scope: Telephony, Servers, Wireless, Dat abase and anything not otherwise noted in the scope of the project. Major Risks The project is complex, removing our current network and replacing it with a new network. If not planned correctly we could see packet loss across the network, no network connectivity or improper flow of traffic. Project Charter The goal of this project is to provide the customer with a custom hot rod that he can hop in and drive without worry. It is the goal of Phoenix Rain Customs to make this truck as dependable as possible so the customer can take the truck around the lock down the street to a local car show or be able to drive it across the country and have the vehicle as reliable as a new car.Phoenix Rain Customs is assuming there will be minimal body work to be done because the body is in overall excellent shape. Risks that are taken into account are that will have to go deeper into the body work and the suspension depending on what the customer wants. There is a budget of 50 thousand dollars approved of by the customer with the provision of an additional 10 thousand if needed.The timeline involved is that the customer would like it finished ND tested by the end of June 2014, so he can take it on a trip during the July 4th holiday Goals To provide customer with a new vehicle that has all the modern sa fety components Provide customer with modern technology and environmental comforts while retaining era correct styling cues Provide customer with modern reliability and with mild street manners This project will create a one of a kind vehicle that will incorporate modern design elements while retaining era correct styling cues.This project will involve several different vendors ranging from body and paint vendors located in the Tacoma Metro ere. The parts vendors will be located throughout the United States. Phoenix Rain Customs will coordinate with vendors locally and nationally to order and receive parts in a timely manner. The High Level Deliverables are as follows: Initial Assessment Body and Paint Interior Drive Train Electrical Assembly AQUA Project Deliverables Milestone Deliverable 1. Initial Assessment Vehicle in Shop and Stripped of components. Remove engine and drive train. Order new frame and suspension.Order new wheels and tires decided upon by customer lead time of six ty days deeded by manufacturer to custom cut wheels. Sit down with customer and go over plan and colors for construction of vehicle. 2. Body And Paint Get body panels media blasted to assess how much body work will need to be done Order new bed components Send frame and suspension for powder coating Get body panels and cab to paint shop to start body and paint process. 3. Interior Order new seats and send to upholstery shop for recovering Order new gauges and dash components Order interior kit. Coordinate with Stereo installer and order stereo components 4.Drive Train Order new engine and drive train combination Receive frame back from powder coating Install new brake system Install suspension system Install new drive train in frame 5. Electrical Install new wiring harness in truck Rewire all interior components Test electrical 6. Assembly Receive cab and body panels back from body shop Put cab and body panels on frame Install new bed wood and hardware Install new interior and dash assembly Install new glass and seals Inspect truck for fit and finish Have unit buffed Take on test drive/ assessment Have customer come in and give assessment Project Charter The goal of this project is to provide the customer with a custom hot rod that he can hop in and drive without worry. It is the goal of Phoenix Rain Customs to make this truck as dependable as possible so the customer can take the truck around the lock down the street to a local car show or be able to drive it across the country and have the vehicle as reliable as a new car.Phoenix Rain Customs is assuming there will be minimal body work to be done because the body is in overall excellent shape. Risks that are taken into account are that will have to go deeper into the body work and the suspension depending on what the customer wants. There is a budget of 50 thousand dollars approved of by the customer with the provision of an additional 10 thousand if needed.The timeline involved is that the customer would like it finished ND tested by the end of June 2014, so he can take it on a trip during the July 4th holiday Goals To provide customer with a new vehicle that has all the modern sa fety components Provide customer with modern technology and environmental comforts while retaining era correct styling cues Provide customer with modern reliability and with mild street manners This project will create a one of a kind vehicle that will incorporate modern design elements while retaining era correct styling cues.This project will involve several different vendors ranging from body and paint vendors located in the Tacoma Metro ere. The parts vendors will be located throughout the United States. Phoenix Rain Customs will coordinate with vendors locally and nationally to order and receive parts in a timely manner. The High Level Deliverables are as follows: Initial Assessment Body and Paint Interior Drive Train Electrical Assembly AQUA Project Deliverables Milestone Deliverable 1. Initial Assessment Vehicle in Shop and Stripped of components. Remove engine and drive train. Order new frame and suspension.Order new wheels and tires decided upon by customer lead time of six ty days deeded by manufacturer to custom cut wheels. Sit down with customer and go over plan and colors for construction of vehicle. 2. Body And Paint Get body panels media blasted to assess how much body work will need to be done Order new bed components Send frame and suspension for powder coating Get body panels and cab to paint shop to start body and paint process. 3. Interior Order new seats and send to upholstery shop for recovering Order new gauges and dash components Order interior kit. Coordinate with Stereo installer and order stereo components 4.Drive Train Order new engine and drive train combination Receive frame back from powder coating Install new brake system Install suspension system Install new drive train in frame 5. Electrical Install new wiring harness in truck Rewire all interior components Test electrical 6. Assembly Receive cab and body panels back from body shop Put cab and body panels on frame Install new bed wood and hardware Install new interior and dash assembly Install new glass and seals Inspect truck for fit and finish Have unit buffed Take on test drive/ assessment Have customer come in and give assessment Project Charter Redesign network topology in preparation for phase 2 Phase 2 Replace edge switches (I. E. Server, PC, Phone stacks) with viable Ethernet solution Increase bandwidth by using fiber instead of copper connections between the edge devices and the core routers Objectives this refresh we will be able to take advantage of newer technology that has been introduced over the past 10 years. Another goal is to increase uptime by looking into a more redundant, robust solution. Our goal, to achieve axes.Business Need To provide our customers service above and beyond their current expectations we need a modern network. This network should have the ability to expand as our company grows. Faster ports and newer technology to drive us into the next decade. Resiliency and redundancy will play a large part, helping us achieve our goal of axes. Project Manager and Stakeholders Project Manager / Principal Infrastructure Engineer Person Network Engineer – Person External Company – Person Stak eholders – Internal/external customers Milestones Request for Information Out Request for Purchase OutBudget Numbers presented POP for Phase 1 Implementation of Phase 1 POP for Phase 2 Implementation for Phase 2 Budget – Person Network Architect – This project is a high budget project spread out over the course of 2 years/ 2 phases. Approximate cost $600,000 for Hardware, Service and outside expertise. User Acceptance Criteria/Quality What are the minimum success criteria as defined by the key stakeholders? High-Level Project Assumptions The Data network is currently out of warranty and End of Life, support can be obtained for a premium, but no patches will be created.High-Level Project Constraints Time – With the company striving for axes we need the proper downtime to implement the solution Exclusions and Boundaries Core Routers Edge Switches Redesign of network topology Increase performance on the network Out of Scope: Telephony, Servers, Wireless, Dat abase and anything not otherwise noted in the scope of the project. Major Risks The project is complex, removing our current network and replacing it with a new network. If not planned correctly we could see packet loss across the network, no network connectivity or improper flow of traffic.

Saturday, January 11, 2020

International Finance

The nomenclature of the global economic arena Is the saying that the world Is flat and that It comes In a full circle; but where corporate power has transcended barriers and territorial borders, Terrorism remains as the bane of existence. Terrorism Is that plague that reeks In every corporate dominated land. It wasn't Just the twin WET towers plummeting at the darted vision of terror but it was the networked failure of man's economic progress.The global news of today is resplendent of the clatter of bullets, the tyranny of armed tanks and most importantly, the breakthrough of man's bestial brutality. Truncated calls, crashing stock markets, wary economists; the economic world witnessed the horror on 9/1 1, 26/11 etc. Brokers lay crestfallen, investors chose survivals over super profits; above all, the business of man failed. The first question that can be gawked on is how does the economy of the world suffer after the aftermath of a terrorist activity?In the advent of superior global ization, countries favor entry Into the markets by relying on exporting goods and services, which leads to the feasibility of rapid and broad outlook of global markets; It will also reduce the heavy dependence on high remissive physical faceless, which can offer much understandability, flexibility for reacting to unforeseeable market changes and rapid adjustments. Foreign direct Investment or FDA remains one of the key backstabbers for an aspiring global economy.Major investments in major countries of the world stand on shaky ground when such events happen in the light of the economy. When it comes to global economics, transaction costs and economies of scale, Foreign Direct Investment is a priority among financial planners, but the risky affair of dwindling between what is to e injected in the economy and what is to be exported are deemed to be worrisome. Global Markets have the trend to reprimand failure more severely than rewarding success, which have made risk minimizing strateg ies a pathway for business promoters and planners.The yester years before the first fatal blow of terrorism to the global business arena saw a stupendous growth of International ventures; but after the wrath experienced by the international markets: it took into concentrating of domestic affiliations and concentrations. This was evident by the fall of international monetary saving and faith. Money laundering has led to the modern day malaise of terrorism financing. Tightening money laundering laws in the United states still remain ineffective at the gawking reality of a global banking giant- HASH having fallen prey to such accusations.Hash's banking activities in Saudi Arabia, specifically activities pertaining to referencing banking with AY Rajah Bank were brought under the radar. An investigation claimed that the Saudi bank had financed terrorist activities In purview of the September 11 investigations. In fact, it is now Infamously known as the- â€Å"Early Financial benefactor of the al- Qaeda†. Although, there was a hiatus In the banking transactions of HASH and AY Rajah bank; but both the banks have resumed their dealings. Two Bangladesh banks have been accused on salary grounds.Tighter norms and stringent Basel laws could be the trump card but the Course structures pertaining to international business have witnessed a setback in lieu of worsening international ties; it is well evident by the declining education of international studies in the United States, as per the stats relating to enrollments in International Business Courses and Foreign language courses. During the past few ears, managers have moved from the focus of proactive exploration concerning international opportunities in the global arena to a rather defensive posture that emphasizes on the vulnerability of foreign operations and global threats.The September 11 attack alone caused around 40 billion of insurance losses in USA. There was an liquidity need addressed by the federal rese rve along with the delay of major global stock markets like NYSE, FETES etc. The nightmares of the Ells (Foreign institutional Investors has Just begun with the sharp shoot ups of the gold and other commodities prices. As the dollar recovered, it rather showed how the economy could have a domino effect in Just a moment of a terror attack.Although stocks recovered from the short bearish phase of the 26/11 attack in Iambi; it can't offer a solution for the momentary involuntary losses in the global economy. The worst part is that how can a manager appropriate against such costs? The cost of human labor, wealth and resources? It is not Just the infrastructure being marred or the sabbatical day being a black day but it is the vulnerability of corporate giants in front of the tryst with terrorism. The cost born for provisioning against such losses cannot be anticipated.They can seep through any advent of the business; whether it's the hijacked plane or the bakery which gets bombarded; th e vivid imagination of terror cripples the masculinity of business. The real question that looms on every single business maker is that who is supposed to bear this impossible to inappropriate cost? The government or the various international bodies? Yes, there is indeed something scarier than the sublime crisis, and it is the sublime crisis of human empathy and brotherhood. What might seem as the biggest looming threat to the business of the world can actually be a way to fight this common malaise forever.It is the world cooperation of various international bodies and government bodies including multinational corporations to bring an end to this plaguing condition. In the face of such a terror; the rescue can only be the pooled efforts of every individual who dreams of international cooperation and benefit. Rather than basking on the indifference curve, it might be the time of our corporate lives to pull our socks even higher; so that each individual with its own competence forms t he army of seamless unity and strength. International Finance Chapter 4 Practice Problems Percentage Depreciation †¢ Assume the spot rate of the British pound is $1. 73. The expected spot rate one year from now is assumed to be $1. 66. What percentage depreciation does this reflect? †¢ ($1 66 – $1 73)/$1 73 = –4. 05% ($1. 66 $1. 73)/$1. 73 4 05% Expected depreciation of 4. 05% percent Inflation Effects on Exchange Rates †¢ Assume that the U. S. inflation rate becomes high relative to Canadian inflation. Other things being equal, how should this affect the (a) U. S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of the Canadian dollar? Demand for Canadian dollars should increase, ? Supply of Canadian dollars for sale should decrease, and ? The Canadian dollar’s value should increase. 1 Interest Rate Effects on Exchange Rates †¢ Assume U. S. interest rates fall relative to British interest rates. Other things being equal, how should this affect the (a) U. S. demand for British pounds, (b) supply of pounds for sale, and (c) equilibrium value of the pound? ? Demand for pounds should increase, ? Supply of pounds for sale should decrease, and ? The pound’s value should increase. Income Effects on Exchange Rates †¢ Assume that the U.S. income level rises at a much higher rate than does the Canadian income level. Other things being equal, how should this affect the (a) U. S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of th Canadian dollar? f the C di d ll ? ? Assuming no effect on U. S. interest rates, demand for dollars should increase, ? Supply of dollars for sale may not be affected, and ? The dollar’s value should increase. Trade Restriction Effects on Exchange Rates †¢ Assume that the Japanese government relaxes its controls on imports by Japanese companies.Other things being equal, how should this affect the (a) U. S. demand for Japanese yen, (b) supply of yen for sale, and (c) equilibrium value of the yen? ? Demand for yen should not be affected, ? Supply of yen for sale should increase, and ? The value of yen should decrease. 2 Effects of Real Interest Rates †¢ What is the expected relationship between the relative real interest rates of two countries and the exchange rate of their currencies? ? The higher the real interest rate of a country relative to another country, the stronger will be its home currency, other things equal. Speculative Effects on Exchange Rates Explain why a public forecast about future interest rates could affect the value of the dollar today. Why do some forecasts by well-respected economists have no impact on today’s value of the dollar? ? Speculators can use anticipated interest rate movements to forecast exchange rate movements. ? Th may purchase f i securities b They h foreign iti because of their f th i expectations about currency movements, since their yield will be affected by changes in a cur rency’s value. ? These purchases of securities require an exchange of currencies, which can immediately affect the equilibrium value of exchange rates. It was already anticipated by market participants or is not different from investors’ original expectations. Interaction of Exchange Rates †¢ Assume that there are substantial capital flows among Canada, the U. S. , and Japan. If interest rates in Canada decline to a level below the U. S. interest rate, and inflationary expectations remain unchanged, how could this affect the value of the Canadian dollar against the U. S. dollar? ? If interest rates in Canada decline, there may be an increase in capital flows from Canada to the U. S. ? In addition, U. S. investors may attempt to capitalize on higher U.S. interest rates, while U. S. investors reduce their investments in Canada’s securities. ? This places downward pressure on the Canadian dollar’s value. 3 Interaction of Exchange Rates †¢ How might this affect the value of the Canadian dollar against the Japanese yen? ? Japanese investors that previously invested in Canada may , p shift to the U. S. Thus, the reduced flow of funds from Japan would place downward pressure on the Canadian dollar against the Japanese yen. Relative Importance of Factors Affecting Exchange Rate Risk †¢ Assume that the level of capital flows between the U.S. and the country of Krendo is negligible and will continue to be. But there is a substantial amount of trade between the U. S. and the country of Krendo. Which affect, high inflation or high interest rates will be seen in the value of the Krendo’s currency? Krendo s †¢ The inflation effect will be stronger than the interest rate effect because inflation affects trade flows. ? The high inflation should cause downward pressure on the kren. Speculation †¢ Blue Demon Bank expects that the Mexican peso will depreciate against the dollar from its spot rate of $. 5 to $. 14 in 10 days. The following interbank lending and borrowing rates exist: U. S. dollar Mexican peso Lending Rate Borrowing Rate 8. 0% 8. 3% 8. 5% 8. 7% Assume that Blue Demon Bank has a borrowing capacity of either $10 million or 70 million pesos in the interbank market, depending on which currency it wants to borrow. How could Blue Demon Bank attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. 4 Speculation 1. Borrow MXP70 million 2.Convert the MXP70 million to dollars: MXP70,000,000 ? $. 15 = $10,500,000 3. Lend the dollars through the interbank market at 8. 0% annualized over a 10-day period. The amount accumulated in 10 days is: $10,500,000 ? [1 + (8% ? 10/360)] [ ] = $10,500,000 ? [1. 002222] = $10,523,333 4. Repay the peso loan. The repayment amount on the peso loan is: MXP70,000,000 ? [1 + (8. 7% ? 10/360)] = 70,000,000 ? [1. 002417] = MXP70,169,167 5. Based on the expected spot rate of $. 14, the am ount of dollars needed to repay the peso loan is: MXP70,169,167 ? $. 14 = $9,823,683 6.After repaying the loan, Blue Demon Bank will have a speculative profit of: $10,523,333 – $9,823,683 = $699,650 Speculation †¢ Assume all the preceding information with this exception: Blue Demon Bank expects the peso to appreciate from its present spot rate of $. 15 to $. 17 in 30 days. How could it attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. Speculation 1. Borrow $10 million 2. Convert the $10 million to pesos (MXP): $10,000,000/$. 15 = MXP66,666,667 3. Lend the pesos through the interbank market at 8. % annualized over a 30-day period. The amount accumulated in 30 days is: MXP66,666,667 ? [1 + (8. 5% ? 30/360)] [ ] = 66,666,667 ? [1. 007083] = MXP67,138,889 4. Repay the dollar loan. The repayment amount on the dollar loan is: $10,000,000 ? [1 + (8. 3% ? 30/360)] = $10,000,000 ? [1. 006917] = $10,069,170 5. Convert the pesos to dollars to repay the loan. The amount of dollars to be received in 30 days (based on the expected spot rate of $. 17) is: MXP67,138,889 ? $. 17 = $11,413,611 6. The profits are (could be): $11,413,611 – $10,069,170 = $1,344,441 5 International Finance The nomenclature of the global economic arena Is the saying that the world Is flat and that It comes In a full circle; but where corporate power has transcended barriers and territorial borders, Terrorism remains as the bane of existence. Terrorism Is that plague that reeks In every corporate dominated land. It wasn't Just the twin WET towers plummeting at the darted vision of terror but it was the networked failure of man's economic progress.The global news of today is resplendent of the clatter of bullets, the tyranny of armed tanks and most importantly, the breakthrough of man's bestial brutality. Truncated calls, crashing stock markets, wary economists; the economic world witnessed the horror on 9/1 1, 26/11 etc. Brokers lay crestfallen, investors chose survivals over super profits; above all, the business of man failed. The first question that can be gawked on is how does the economy of the world suffer after the aftermath of a terrorist activity?In the advent of superior global ization, countries favor entry Into the markets by relying on exporting goods and services, which leads to the feasibility of rapid and broad outlook of global markets; It will also reduce the heavy dependence on high remissive physical faceless, which can offer much understandability, flexibility for reacting to unforeseeable market changes and rapid adjustments. Foreign direct Investment or FDA remains one of the key backstabbers for an aspiring global economy.Major investments in major countries of the world stand on shaky ground when such events happen in the light of the economy. When it comes to global economics, transaction costs and economies of scale, Foreign Direct Investment is a priority among financial planners, but the risky affair of dwindling between what is to e injected in the economy and what is to be exported are deemed to be worrisome. Global Markets have the trend to reprimand failure more severely than rewarding success, which have made risk minimizing strateg ies a pathway for business promoters and planners.The yester years before the first fatal blow of terrorism to the global business arena saw a stupendous growth of International ventures; but after the wrath experienced by the international markets: it took into concentrating of domestic affiliations and concentrations. This was evident by the fall of international monetary saving and faith. Money laundering has led to the modern day malaise of terrorism financing. Tightening money laundering laws in the United states still remain ineffective at the gawking reality of a global banking giant- HASH having fallen prey to such accusations.Hash's banking activities in Saudi Arabia, specifically activities pertaining to referencing banking with AY Rajah Bank were brought under the radar. An investigation claimed that the Saudi bank had financed terrorist activities In purview of the September 11 investigations. In fact, it is now Infamously known as the- â€Å"Early Financial benefactor of the al- Qaeda†. Although, there was a hiatus In the banking transactions of HASH and AY Rajah bank; but both the banks have resumed their dealings. Two Bangladesh banks have been accused on salary grounds.Tighter norms and stringent Basel laws could be the trump card but the Course structures pertaining to international business have witnessed a setback in lieu of worsening international ties; it is well evident by the declining education of international studies in the United States, as per the stats relating to enrollments in International Business Courses and Foreign language courses. During the past few ears, managers have moved from the focus of proactive exploration concerning international opportunities in the global arena to a rather defensive posture that emphasizes on the vulnerability of foreign operations and global threats.The September 11 attack alone caused around 40 billion of insurance losses in USA. There was an liquidity need addressed by the federal rese rve along with the delay of major global stock markets like NYSE, FETES etc. The nightmares of the Ells (Foreign institutional Investors has Just begun with the sharp shoot ups of the gold and other commodities prices. As the dollar recovered, it rather showed how the economy could have a domino effect in Just a moment of a terror attack.Although stocks recovered from the short bearish phase of the 26/11 attack in Iambi; it can't offer a solution for the momentary involuntary losses in the global economy. The worst part is that how can a manager appropriate against such costs? The cost of human labor, wealth and resources? It is not Just the infrastructure being marred or the sabbatical day being a black day but it is the vulnerability of corporate giants in front of the tryst with terrorism. The cost born for provisioning against such losses cannot be anticipated.They can seep through any advent of the business; whether it's the hijacked plane or the bakery which gets bombarded; th e vivid imagination of terror cripples the masculinity of business. The real question that looms on every single business maker is that who is supposed to bear this impossible to inappropriate cost? The government or the various international bodies? Yes, there is indeed something scarier than the sublime crisis, and it is the sublime crisis of human empathy and brotherhood. What might seem as the biggest looming threat to the business of the world can actually be a way to fight this common malaise forever.It is the world cooperation of various international bodies and government bodies including multinational corporations to bring an end to this plaguing condition. In the face of such a terror; the rescue can only be the pooled efforts of every individual who dreams of international cooperation and benefit. Rather than basking on the indifference curve, it might be the time of our corporate lives to pull our socks even higher; so that each individual with its own competence forms t he army of seamless unity and strength. International Finance Abstract: The assignment requires one to select one major economic sector in Tanzania and †¢Evaluate the FDI’S flow and †¢the importance of FDI’s in that sector during the past 4 years. †¢Identify the likely impairing factors to FDI’s in that sector. †¢Recommend what the government should do to attract more FDI’S Method After selecting the one major economic sector which is Agricultural sector, data were requested which will provide the end results of this assignment. ? Table of Contents 1. Introduction: Tanzania’s Economy4 2. Evaluation of Tanzania’s FDI’s flow5 . Importance of FDI in Agriculture in the past 4 years7 †¢Capital:7 †¢Technology:8 †¢Market Access:8 4. Factors Impairing FDI’s in Tanzania8 †¢Poor Infrastructure8 †¢Capacity8 †¢Bureaucracy8 †¢Corruption9 †¢Seasonality9 †¢Access to finance9 †¢Regulatory framework9 5. Recommendation to attract more FDI ’s10 6. Conclusion10 References. 12 1. Introduction: Tanzania’s Economy Tanzania is one of the world's poorest economies in terms of per capita income, with GDP growth of average 7% per year between 2000 and 2008 on strong gold production and tourism.However, the economy heavily depends on agriculture, which accounts for more than one-fourth of GDP, provides 85% of exports, and employs about 60% of the work force. Tanzania also depends on the World Bank, the IMF, and bilateral donors to provide funds to rehabilitate Tanzania's aging economic infrastructure, including rail and port infrastructure that are important trade links for inland countries. With the recent banking reforms that have helped increase private-sector growth and investment, and the government has increased spending on agriculture to 7% of its budget.Continued donor assistance and solid macroeconomic policies supported a positive growth rate, despite the world recession. Also, in 2008, Tanzania receive d the world's largest Millennium Challenge Compact grant, worth $698 million. Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the impact of the global recession. GDP growth in 2009-10 was a respectable 6% per year due to high gold prices and increased production. Tanzania's economy was forecast to grow by 7. 2 percent in 2012, up from an estimated 6. 0 percent this year, provided weather conditions improve as reported by the International Monetary Fund (IMF).However, Tanzania's economy will grow by a median 6. 7 percent this year from 7. 0 percent last year, weighed down by chronic energy shortages, as reported by a Reuter’s poll. The median forecast by a poll of 11 analysts showed gross domestic product would rebound to 7. 1 percent next year in east Africa's second-largest economy. The downside risks to the growth outlook emanate mostly from the power rationing that has been going on in the country. It has compelled firms to resort to less productive sources of power. The Washington-based body earlier this year cut its 2011 growth projection for Tanzania from 7. percent because of widespread power outages triggered by drought in the predominantly hydropower producing country. Africa's fourth biggest gold producer, Tanzania mainly depends on tourism, mining and agriculture and is increasingly attracting higher investor interest in telecommunications, energy, manufacturing, financial services and transport. 2. Evaluation of Tanzania’s FDI’s flow The Government of Tanzania (GOT) generally has a favorable attitude toward foreign direct investment (FDI) and has made significant efforts to encourage foreign investment.After several years of growing FDI, new FDI declined sharply from USD 6. 68 billion in 2008 to USD 2. 3 billion in 2009. The number of new foreign projects registered at TIC dropped to 503 last year from 768 in 2008. There is no restriction in foreign exchange. Foreign investors generally receive national treatment; however, the Tourism Act of 2007 bars foreigners from engaging in some tourism-related businesses. The Dar Es Salaam Stock Exchange forbids companies with more than 60 percent foreign ownership from listing.There are no laws or regulations authorizing private firms to limit or prohibit foreign investment, participation, or control, and firms generally do not restrict foreign participation in practice. The global economic crisis had minimal impact on the Tanzanian financial sector due to its relatively low global integration, however tourist arrivals dropped up to 20 percent, new tourist projects fell by 50 percent, and FDI dropped within the natural resource sector, resulting in layoffs at gold mining firms and stalled mineral and gas exploration and development projects.The Tanzanian Investment Center (TIC), established by the Tanzanian Investment Act of 1997, is the focal point for all investors’ inquiries, screens foreign investments, and facilitates project sta rt-ups. Filing with TIC is not mandatory, but offers incentives for joint ventures with Tanzanians and wholly owned foreign projects above USD 300,000. The review process takes up to 10 days, and involves multiple GOT agencies, which are required by law to cooperate fully with TIC in facilitating foreign investment, but in practice can create bureaucratic delays.TIC continues to improve investment facilitation services, provide joint venture opportunities between local and foreign investors, and disseminate investment information. TIC does not have specific criteria for screening or approving projects, but considers factors such as: foreign exchange generation and savings, import substitution, employment creation, linkages to the local economy, technology transfer, and expansion of production of goods and services. Among investment and trade opportunities promoted by the TIC are agriculture, mining, tourism, telecommunications, financial services, and energy and transportation infra structure.The Economic Processing Zones Act 2006 authorized the establishment of Special Economic Zones (SEZs) to augment investments in the light industry, agro-processing industry and agriculture sectors. Greenfield foreign direct investments are allowed through this legislation. The Export Processing Zones Authority continues to promote Export Processing Zones (EPZ) to attract investments in agribusiness, textiles and electronics and Spatial Development Initiatives (SDI). Investors in EPZs are eligible for tax exemptions. Investments on the Dar es Salaam Stock Exchange (DSE) are open to foreign investors, but capped at 60 percent.Foreign investors are barred from participating in government securities. The financial sector has continued to expand, with an increase in foreign-affiliated financial institutions and banks operating in Tanzania. As of December 2009, the Bank of Tanzania listed a total of 27 commercial banks licensed and operating in Tanzania, over half of which are fo reign-affiliated banks. Competition among these foreign commercial banks has resulted in significant improvement in the efficiency and quality of financial services.Tanzania expected to increase foreign direct investment (FDI) by 16 percent in 2010 from $645 million last year as the global economy recovers. Foreign direct investment in 2009 dropped from $679 million the year before as a result of the global financial crisis. The FDI inflows into east Africa's second largest economy were expected to surge to $800 million in 2011. Tanzania's economy mainly depends on tourism, mining and agriculture. Its telecommunications, energy, manufacturing, financial services and transport sectors are attracting rising investor interest.It is expected that most of the investments in 2010/11 will focus on tourism, agriculture and telecoms. The government is implementing investment reforms to woo foreign capital. According to the World Bank's Doing Business in the East African Community 2010 report , Tanzania fares poorly in key areas such as closing and starting a business, protecting investors, access to credit, cross border trade and issuance of construction permits. 3. Importance of FDI in Agriculture in the past 4 years Tanzania has more than 44 million hectares of arable land, and a wide variety of ecological zones, climates and water resources.The country could feed most of the East, Central and Southern African countries with food deficits. 80% of the population in Tanzania lives in rural areas and are in some way or another depending on agriculture. The agricultural sector is vital to Tanzania’s economy and therefore also to the reduction and eradication of poverty. Other advantages of FDIs in agricultural sector in Tanzania are as follows: †¢Capital: First and foremost FDI brings much needed capital to Tanzania. This helps the country to achieve rates of domestic investment higher than their domestic savings.Besides, the financial resources that FDI bring s in are in long term and non-debt creating. †¢Technology: There are a number of ways in which FDI through TNCs can help develop indigenous technology. Firstly TNCs usually bring in modern technology in agriculture and practices to Tanzania and help it upgrade its existing technology. †¢Market Access: TNCs in the agricultural sector has enabled Tanzania to better exploit its comparative advantage in international trade and thus gain access to global markets. 4. Factors Impairing FDI’s in Tanzania †¢Poor Infrastructure Lack of stable power has led to power outages throughout the country.It has compelled firms to resort to less productive sources of power. These power outages triggered by drought due to high reliance in the predominantly hydropower. Another significant constraint to improving FDI in Tanzania through agriculture is poor infrastructure within Tanzania. Insufficient investment in the road network has resulted in just 4,000 kilometers of Tanzaniaâ₠¬â„¢s 85,000 km road network being paved. Most of these unpaved roads are feeder roads in rural areas, and many routes become impassable after heavy rains. The country’s two railway systems are also unreliable, with dilapidated infrastructure and outdated rolling stock. Capacity TIC currently lacks the capacity to address the complicated and non-transparent investment clearance processes, to collect comprehensive and timely data for the research needed to facilitate both policy making and investment decision-making. †¢Bureaucracy Bureaucratic intransigence continues to pose a severe obstacle to doing business in Tanzania as in the rest of East Africa. Investors looking to startup businesses in Tanzania often complain about the level of red tape associated with issues such as the issuance of business licenses, company registration, building permits, land certificates and taxation. Corruption Corruption is an endemic problem in Tanzania and is often cited as one of the big gest hindrances to doing business. The World Bank 2006 Enterprise Survey indicates that 49. 5% of the surveyed companies reports that they expect to make informal payments to achieve specific goals. According to the 2006 IFC-World Bank Enterprise Survey, 20% of the companies surveyed expect to give gifts or make informal payments to get an operating license, and 32% to get a construction permit. †¢SeasonalityMore than 75% of Tanzanian enterprises are heavily affected by seasonality, whereby farmers sell their produce when prices are lowest and buy inputs for the next cropping season when prices are highest. †¢Access to finance Most enterprises in the rural areas are small scale and engage in or rely on agriculture. Bearing the above constraint, these small enterprises have a comparatively high risk, high transaction costs and low volumes, limiting access to capital. †¢Regulatory framework The economic growth potential of investments in agricultural land is questionabl e due to an inadequate regulatory framework governing (FDI) in the sector.FDI in agricultural sector in Tanzania can even jeopardize local resource users land rights. In such that farmers are giving away their most valuable assets to profit-seeking entities, based on information asymmetries and persuasion. 5. Recommendation to attract more FDI’s Including the ongoing reforms to woo investments, TIC continues to improve investment facilitation services, provide joint venture opportunities between local and foreign investors, and disseminate investment information.In order to attract more FDIs in the agricultural sector and to increase productivity and high quality output, effort is needed to understand and eliminate the barriers to smallholders that inhibit the growth of productivity. The structural problems facing smallholders such as limited access to information, to input and output and financial markets need rethinking that will attract more FDI to the sector. Such an arra ngement would involve smallholders being better organized in producer associations.Producer associations can improve productivity, reduce costs through supply chain linkages and improve competitiveness. They manage to do so by improving access to necessary and affordable input (technologies and credit). The second challenge is to build integration of production, transport, processing and marketing to take advantage of supply and demand value addition. Third is to ensure the introduction of innovation and knowledge on a continuing basis without subjecting members to high consultancy fees given the socio-economic conditions of smallholders. 6. ConclusionApart from general determinants such as macroeconomic stability, efficient institutions, political stability and a good regulatory framework, the smallholder institutional setup has positive impact on FDI flow into the sector. It has been observed that crops whose smallholders are well organized attracted more FDI. An important implica tion of the result is that FDI to the agricultural sector is not solely driven by policies and incentives to foreign investment and that the institutional setup of smallholder farmers can play an important role in promoting investments to the sector.In the short and medium term, efforts to foster integration and creation of strong bonds between smallholders and investors through integrated producer schemes can increase FDI to the sector and thus increase productivity. Other determinants such as investment regulatory frameworks, policies that promote macroeconomic economic stability, and improved physical infrastructure also have a role to play both in the short and long run. In the long run, more FDI can be attained by developing strong institutions in all sectors. ?