...DescriptionThe West Point Academy Honor Code states that "A cadet will not lie, cheat, or steal nor tolerate those that do" (President and Fellows of Harvard College, 1981). In 1976 theAcademy and the Honor Code came under scrutiny due to a broad range cheating incidentamongst cadets in an electrical engineering course. In the class of 823 cadets, it is believedthat 300-600 cheated on the assignment. Cheating is a direct violation of the Honor Codeand all those found guilty by the Honor System are subject to expulsion. Because of thecheating incident, the Academy gained tremendous national exposure and publicity. Thecadets caught in the scandal are questioning the Academy, the Honor Code and the Honor System itself. Lt General Sidney Berry, Acting Superintendent of the Academy, must sortthrough all information and satisfy the wishes of Congress, the Department of the Army,alumni, current cadets and the merciless public.DiagnosisThe Academy produces battle-ready offices. Some of the "macro level" stressors that arevisible are; competitive pressures, bureaucratic rules, restrictive untrusting culture, tightcontrols, centralized decision making, lack of participation in decisions, punitive appraisalsystem and physical and mental strain all of which exist at the school (Luthans, 2011).At the center of all the practices at West Point is the Honor Code. A change in the Honor Code would go against the what the Academy had always stood for and would hold futurecadets to lower standards...
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...A Knack for Excellence Is striving to graduate with Honors really worth the struggle? You might be wondering, is he really taking it there? Well, Yes I am. What if you gave and dedicated your life and soul, solely on achieving this honor and still don’t make it? Yes, I’m sure it looks great on a resume and one may feel like they have accomplished life’s greatest feat, especially when graduating from a Harvard, Yale, Princeton or any other highly-notable University with such prestigious of a honor; but neither life nor success in life is solely characterized by acquiring A’s in school. So is it really worth it, and what does it truly mean to graduate with honors? As the film “With Honors” depicted, for Harvard it meant everything, but he realized the bigger picture in the end. I believe graduating with ‘Honors’ should be considered more than a goal. It should be considered a way of life, a lifestyle so to say. In the film, “With Honors”, ‘Harvard’ was at the mercy of Simon, the ‘Harvard Bum’ who found his thesis paper. Even though Harvard failed to graduate with honors from Harvard, he essentially did one thing right when he chose to chase a dream of graduating with Honors. He set his goals high! He set his eyes on the prize and began a figuratively climb upward the likes of a Mt. Everest; with Mt. Everest being his graduation from Harvard with quote, unquote, honors. Simon taught them that just graduating with a flimsy piece of paper can only get them so far, that...
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...entrepreneurial and managerial skills and technology. FDIs complement the domestic savings in financing the capital formation in the host country. FDIs contribute to the generation of output and employment. The foreign exchange inflow augments the supply of foreign exchange, which is often scarce in the developing countries. In most cases, however, the project being set up with FDI is dependent upon imported plant and machinery, and technology. The foreign exchange -inflow takes care of these import requirements, partially or fully. The direct cost of FDI to the host country comprises remittances made on account of dividends on the equity held abroad, interest on loans or suppliers' credits extended by the foreign investors, royalties and technical fees, for transfer of technology and other services provided by the foreign partner. Unlike foreign borrowings, servicing remittances, viz., dividends in the case of FDI begin after the project starts making profits. However, the servicing burden of FDI builds up very fast, and consumes considerable foreign exchange resources of the host country. Further, these remittances have the tendency to grow over time as the enterprise consolidates and prospers. Thus, the direct impact of FDIs on the host country includes both positive and negative aspects. The favourable impact is by way of generation of output and employment by complementing the domestic savings and bringing in the much-needed entrepreneurial skills and foreign exchange...
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...THE EFFECT OF SAVINGS RATE IN CANADA The impact of savings rate in an economic has become a very conflicting issue in research and among economist all over the world. This may be due to the importance of savings generally to the economic growth and development of any nation. However, the structure of every economy cannot be generalised by a particular economics’ variation because various countries have different social security and pension schemes, and different tax systems, all of which have an effect on disposable income. In addition, the age of a country’s population, the availability and ease of credit, the overall wealth, and cultural and social factors within a country all affect savings rates within a particular country. Therefore, this paper seeks to find the effect of savings in the Canadian economy. Household saving is defined as the difference between a household’s disposable incomes mainly wages received, revenue of the self-employed and net property income and its consumption (expenditures on goods and services). The household savings rate is calculated by dividing household savings by household disposable income. A negative savings rate indicates that a household spends more than it receives as regular income and finances some of the expenditure through credit (increasing debt), through gains arising from the sale of assets (financial or non-financial), or by running down cash and deposits. Since the early-to-mid-1990s, savings rates have been stable in some...
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...December 10, 2010 Week 7 Assignment: End of Chapter Questions 1. Chapter 41.2 2. Chapter 41.7 Chapter 41.2 Definition of Security Yes, I believe that the notes issued by Co-Op were “securities”. Co-op offered the promissory notes to both members and non-members on the basis that they were an “investment program,” and they were offered at an interest rate higher than that available on savings accounts at financial institutions. I believe this note falls under an “investment contract.” An investment contract is a flexible standard for defining a security. Under the Howey test, a security exists if an investor invests money in a common enterprise and expects to make a profit from the significant efforts of others. In this case, investors bought the promissory notes, which were payable on demand and the invested money went to support Co-Ops general business operations. The investors invested their money into Co-Op and expected to make profits based on the efforts of the promoters. By definition, the notes in this case fall under investment contracts, and therefore qualify as a security. Chapter 41.7 Hoodes wins. Insider trading occurs when a company employee or a company advisor used material nonpublic information to make a profit by trading in the securities of the company. In this case, it is stated that “Hoodes did not possess material nonpublic information about Sullair when he sold or purchased the securities of the company. In the Matter...
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... One of the major contributors to the same is expected to be the young working population of the country. The working population (15-59 years) of India today largely, approximately 57%, consists of the youth (15-34 years). According to official data, India's labour force, which was 472 million in 2006, was around 526 million in 2011 and is expected to be around 653 million in 2031. In just about 3 years, 25% of the world’s working population will be Indian. Human beings tend to have a higher proportion of consumption in their childhood days, whereas, they save the most in their working years. Thus, the dependency ratio has gone down with the rise in the average savings rate. The saving rate of India has been on an increase since 2003 and currently stands at 33% of the GDP of the nation. The greater savings are expected to fuel higher investment rates contributing to growth of the nation. While the above is the supply side of the story, there are contributions from the demand side as well. The shift in demographics with rise in youth in the nation, there has been a steady rise in disposable income in the hands of individuals. This has led to a change in lifestyle of the individuals leading to growth in demand for consumption of goods to meet more than the basic needs of the individuals. In order to cater to this demand, there has been a drastic rise in consumerism in the country. Today domestic as well as international companies are all flocking to meet the Indian consumer’s...
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...open a pizza parlor in your hometown. You plan to deliver your pizzas in a four mile radius from your shop. Your annual fixed expenses are $54,000. You charge $10 for a pizza and it costs you $6 to make and deliver each pizza. Do not calculate income taxes for the purpose of this exercise. Complete the following problems: 1.Using the contribution-margin approach, what is your break-even point in pizzas? 2.What is the contribution-margin ratio? 3.Compute the break-even sales ratio using the contribution-margin ratio in your calculations. 4.Compute the number of pizzas that must be sold to earn a net profit of $60,000. Part 3: Research Report Research and define the following: A.Define personal saving. Also, differentiate between voluntary and contractual savings. B.What is the European Union (EU)? How...
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...Article Citation: Mayhew, L., & Smith, D. (2014). Personal Care Savings Bonds: A New Way of Saving Towards Social Care in Later Life. Geneva Papers on Risk & Insurance, 39(4), 668-692. doi:http://dx.doi.org/10.1057/gpp.2014.30 Main Issue of Article: The article “Personal Care Savings Bonds: A New Way of Saving Towards Social Care in Later Life” is an interesting take on a new way to pay for your elderly care after retirement. “Social care” is what most people would associate with long-term care. Personal Care Savings Bonds (PCSBs) go about it in a whole different way. The general idea is to blend a traditional savings bond with the lottery. Combining the practical long-term, safe, savings of a bond with the instant gratification of winning a large cash prize. A very large expenditure of people at the end-stages of life is the cost of their care. These costs often destroy personal savings and drain the assets a person wants to leave to their families all while still costing the government (tax payers) billions of dollars per year. PCSBs would hope to encourage more saving by individuals by introducing a lottery aspect. As with any lottery, a person would buy as many “tickets” as they would like. If their number is chosen, they would win a large cash prize. How PCBSs differ is that the bulk of the money from the ticket would go towards a guaranteed bond. As people buy more and more tickets, the amount in their PCSB account would grow. The administrators...
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... Michael Busler, Ph.D. MINICASE #2 30 Sept. 2014 Old Alfred Road Retirement Plan “Old” Alfred Road, age 70 is ready to retire and requires assessment of his fiscal status to do so. He is a widower that lives alone in a home that he has completely paid for that he wishes upon his death to bequeath to his daughter, together with any remaining assets. He wishes to preserve the savings account for unexpected expenses and emergencies, therefore he wishes to live off his investment interest which is expected to continue to grow at .09 and social security payments which will be indexed for inflation at .04. He expects to live an additional 20 years and would like his monthly spending to increase along with inflation therefore remain stable in today’s dollars. His balance sheet is as follows: Income: Initial Interest Per Month Per Year (one) Investments 180,000 .09 1,350 16,200 Savings 12,000 .05 50 600 Social Security 750 .04 750 9,000 Expenses: Per month Per Year (one) Assumed Rate of Inflation Basic Living Expenses 1500 ...
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...Recession Looms for the U.S. Economy in 2007 z 1 Introduction The recovery that began in November of 2001 is likely to come to an end in 2007. The main factor pushing the economy into recession will be weakness in the housing market. The housing market had been the primary fuel for the recovery until th e last year, as there was an unprecedented run-up in house prices since 1997. With prices now he aded downward, construction and home sales have dropped off by almost 20 percent against year ago levels. Even more importantly, borrowing against home equity, which had been the main factor fue ling consumption growth, will plummet as many homeowners lack any further equity to borrow against. The result will be a downturn in consumption spending, which together with plun ging housing investment, will likely push the economy into recession. The economy will see a subst antial net loss of jobs, with nominal wage growth slowing as the labor market weakens over the course of the year. Overview This recovery has been fueled to a very large exten t by a housing bubble, just as the second half of the nineties cycle was fueled by a stock bubble. Sin ce 1997, average house prices have risen by more than 50 percent, after adjusting for inflation. Hist orically, house prices have moved at approximately the same pace as the overall rate of inflation. 1 This unprecedented run-up has not been associated with extraordinary population or income growth...
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...Trading profit and loss reliefs won’t be included in January. All income has to be gross. Interest received = Net income x 100/80 (because tax is 20%) = amount of interest before tax Non saving income of £3,000 and £40,000 = 3000X20% = 600 34,370 X 20% =6874 40,000- 34,370 X 40%= 2,252 TOTAL= 9,126 You need to take the non-savings (other income) income column first then the savings income then the dividend savings Non saving income of £1,000 and £1,000 savings= 1,000x 20% =£200 Savings £1,000 x 10% = £100 because the non-savings is below £2,710 TOTAL= £300 Non savings 1,000 x 20% =200 Savings 20,000 (2710-1000) x 10%= 171 (20,000-1,710x20%=3,658) TOTAL $4,029 NON SAVINGS £3,000 x 20% = 600 Savings £1,000 x20% =200 Dividends £1,000 x 10%= 100 TOTAL= 900 Non savings £10,000 x 20% = 2,000 Savings £20,000 x 20% = 4,000 Dividends £15,000 ( 4,370 x 10% =437) (15,000-4,370)x32.5% = 3,454.75 TOTAL 9,891.75 a) £29,450 (29,450-25,400) £4,050 over the limit PA =£10,660 – (1/2 x £4,050) = £8,635 – personal income allowance b) 35,000 (35,000-25,400) 9600 over 10660- (1/2 x 9600) = 5860 But subject to 8,105 as it’s the law. Can only be reduced when the income is over £100,000. THE DIVIDEND IN THE QUESTION IS NET ASWEL. £34,000 x 40% = £13,600 Savings (net) £3,888 =£4,860 gross x 20% =£972 Dividend 6,300 = £7,000 gross (£3,615 LOWER RATE) (£3,385 HIGHER RATE) hhdhdhdhhd (8,105) (8,105) (8,105) (8,105) 2012/13...
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...amount borrowed from non-residents. Net foreign debt is gross foreign debt minus resident’s lending to overseas. the difference between national investment and national savings. If a country does not have sufficient domestic savings, it must borrow to finance it’s investment which must come from overseas. The Street Savior project is created in intention to eradicate poverty. Not today or tomorrow, but if you join hands with us in supporting for a good cause, we can definitely achieve our goal! India is not yet free from poverty, but it isn’t impossible. For starters, we are concentrating the streets of Chennai, and helping those little boys and girls find a direction in life through education and comfort. For more details, please visit our ‘About Page’. If you are willing to join hands with us, please visit our ‘Get Involved’ page to know more details about our non-profitable organization. If you are a company/business and would like to donate for us, please email us at streetsaviour@gmail.com or by visiting the ‘Donate’ page. Thank you. Let’s change the world for good * There are several ways to reduce a country’s foreign debt: (i) Increasing international competitiveness (microeconomic reform). Growth in exports will reduce the CAD and hence foreign debt. (ii) Increasing the savings pool - this will reduce the borrowings required to fund...
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...Investment with respect to Income, will also tend to increase. With an increase in b1, which makes it closer to 1, the denominator of the multiplier becomes smaller. Assuming C1 will also increase with increase in Y, multiplier will become greater in value. (b1 + C1) must be less than or equal to 1. d) There will be a decrease where the change in equilibrium output will be multiplied with the multiplier which is (1/ 1- b1 - C1). As this is an open economy, Investment may not equal to National Savings. National Savings = Public Savings + Private Savings = T-G + Y – T – C = T-G + Y – T - C0 - C1 (Y-T) = T-G + Y – T - C0 - C1 Y+ C1 T = Y(1- C1 ) – G - C0 + C1 T As National Savings is proportional to Output, National Savings will also decrease in this case. e) Y= (1/ 1- b1 - C1)C0 - C1T + b0 +G+NX = (1/ 0.4)(100-0.5(50)+100+ 50+ 50) = 275(2.5) =687.5 National Savings = 687.5(1-0.5) – 50 – 100 + 0.5(50)) = 218.75 a. Y=C+ I+G+NX = c0 + c1YD + b0+ b1Y +G+NX = c0+ c1 Y-T + b0+ b1Y +G+NX =c0+ c1Y- c1T+ b0+ b1Y+G+NX Y- c1Y- b1Y= c0- c1T+ b0 +G+NX 1- c1- b1Y= c0- c1T+ b0 +G+NX Y= c0 - c1T + b0 + G + NX1- c1- b1 b. Y= c0 - c1T + b0 + G + NX1- c1-...
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...Lesson #7: Be an “Indian giverâ€. I want to be an Indian giver in the aspect of investing. I want to put my money into stocks, real estate, or even a savings account and have my money come back to me 10-fold when I want it to. I want to make profit off of my risk. I want to be able to give something away knowing that the return was worth my effort. Lesson #8: Assets buy luxuries. I want to be able to buy everything I desire without regretting it. I want to be able to have enough money to buy nice things and not lose sleep over my latest purchase. I want to invest money that I earn to make more. In the end I will have enough money to live the lifestyle that I have always dreame d of. Lesson #9: The need for heroes. I have financial heroes. My dad is one of them. My father works hard at his job. He has earned a position in which he is paid lots of money, has very flexible hours, is well educated, is respected, and is always first for promotions and raises. My father’s financial success is a good thing for me to see. I can model my own financial plan and education after his and seek advice from a man who is successful in saving and spending his money. Lesson #10: Teach and you shall receive. I believe that everything you do comes back to you in the end. I believe that this statement is true with money as well. If you are kind, kindness will come back to you. I always treat people the way I would want to be treated and most times I am treated very nicely. If Robert...
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...1. Unit of Dep method = (Cost of eqpt - Salvage value)*Actual annual production/Total Prodn over life of eqpt = (200,000-40000)*1100,000/55,00000 = $32000 2. Dir Labour = (2000Hr*$12 per Hr)*3 employee = $72000, 18%of $72000 is Benefits, $2500*3 = $7500 is health benefit for 3 employyes 3. Considered $0.45 as purahce price of can if you are not making it. This will tell us cost savings n Make vs Buy. So Annual Saving by Making the cans is $84702. 4. NPV iusing excel function is NPV(12%, -200000,84702,84702,84702,84702,136702) = $155,883.25 5. IRR using excel is IRR(-200000,84702,84702,84702,84702,136702) = 37.54% 6. Payback period:Payback period is the time required for cumulative cash inflows to recover the cash outflows of the project. Payback period = Year before full recovery + (Unrecovered cost at start of year/Cash flow during year) So in present question, We see that by Year 3, the cumulative inflows have recovered ($84702+84702 ) = 169,404 of the initial outflow of 200,000. Thus, the payback occurred during the 3rd year itself. Exact payback period can be found as follows:Payback period = Year before full recovery + (Unrecovered cost at start of year/Cash flow during year) = 2 + (200,000 -169404)/84702 = 2.36 years. 7. ARR calculation has four steps. a-Calculate all cash in flow b-subtract initial investment c-divide the figure by life span of the investment d-calculate what percentage is this of the initial investment by using average annual...
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