...well support by the most current market data. I would like to contribute to this high standing performance by offering quality reports with timely completion. I am interested in the entry level/trainee position of a Commercial Real Estate Appraiser announced September 29 on the professional networking site LinkedIn. I will receive a Bachelor of Business Administration degree in Finance from University of Houston - Victoria in May 2015. I have one year experience as a real estate appraiser trainee with First Choice Appraisal compiling and analyzing data, inspection of properties, and report writing. My degree in Finance has given me the opportunity to apply financing strategies to the cost figures of an appraisal report. The financial fundamental and real estate investment classes have taught me to evaluate interest rates, asset prices and, cash flows that are essential in appraisal reports to determine the highest and best use of the property. The classes also allowed a “hands-on” experience with Microsoft Office Word and Excel which are commonly used in this industry to create reports and charts. These skills have allowed me to create professional formatting and charts to help banks and clients understand the determined market value of a property. During my year of experience as a trainee I have learned that this field is very meticulous. The skills I have developed have allowed me to pay attention to close details about the property that are important and describe...
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...Research Paper On How To Ensure Equity In Commercial Exploitation Of Outer Space Resources Reference: Lee, R. J. (2012). Law and regulation of commercial mining of minerals in outer space. New York; Dordrecht, The Netherlands: Springer. Lee’s book discusses various aspects of exploitation of outer space mineral resources. Different from other authors, Lee focused his discussion on commercial exploitation and proposed a comprehensive legal framework to regulate such activities in order to benefit the mankind. His book targets a wide range of readers so there is a lot of background information about technological and policy development. Lee himself is also professional lawyer who is specialized in space law, so his book s a reliable source of information. I am able to use this work as a good reference book to discuss how ethical theories such as deontology can be applied to commercial exploitation of outer space resources. Livingston, D. (2003). A code of ethics for conducting business in outer space. Space Policy, 19(2), 93-94. Livingston’s article presents a list of code of ethics for commercial operations in outer space and serves as an independent guideline for companies that want to venture into space. His guideline provides me with a good tool to evaluate different approaches that I want to propose in my paper using ethical theories. I believe the ethical consideration is the most important factor to ensure equity of commercial exploitation of celestial resources...
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...Invisible hand, Market failure and Government intervention Invisible Hand Invisible Hand, term used in the book “The Wealth of Nations”, by classical economist Adam Smith, to characterize the idea that a guiding force leads individuals seeking their own economic self-interest to act in ways that also benefit society. A vindication of Adam Smith's intuition about the existence of an "invisible hand" bringing consistency and order to the chaos of individual actions - would be remarkable in them. Much of economic theory of the textbook variety is a celebration of the free market system. This celebration has two parts. First, the operation of the price system, in the context of competitive markets, leads to balance between the demand and supply of the different goods and services traded. In other words, flexible prices result in competitive markets clearing. Second, the market-clearing equilibrium - brought about through flexible prices and competitive markets - is a "good thing" in the sense that it is also a point of economic efficiency. In other words competitive outcomes are also efficient ones. The fact that competition leads to efficiency is known as the First Fundamental Theorem of Welfare Economics. The efficient outcome will have been brought about through parsimony in the use of information; the only things that individuals, in making their supply/demand decisions, need to know are the prices of the different commodities. Furthermore, since the efficient outcome is the...
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...Professor Levasseur Introduction The government pays to its contractors when they submit invoices containing the prices of the supplies or the services rendered according to the contract’s terms. The invoices also contain any discounted or deducted amounts. The government is obligatory to pay upon deliveries unless they specify a due time to pay. For the purpose of selecting payments methods for the services and products purchased by the government agencies, FAR 32.113 should be referenced (Legal Information Institute, 1992). The purpose of this paper is to discuss the three payments options available to government and their advantages and disadvantages, three elements of the prompt Payment Act; next, it will discuss the key areas of cutting government costs, two revisions to TINA that will decrease the requirements for the government’s procurement of technical data and computer software. In the end, the paper will discuss the Buy American Act’s exceptions. Government Payment Options For purchasing the software for tax returns processing, contacting officers on behalf of Internal Revenue Service’s (IRS) can select various effective payment methods. Contracting officer uses the customary contract financing ref. 32.113 for review and uses it without getting the permission from top management. The Contracting officer can select three payment methods that are progress payment, performance-based payments, and payment by government charge cards (52.232-1 Payments, n.d). Progress...
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...Financial Institutions, Instruments and Markets—7th edition Instructor’s Resource Manual Christopher Viney and Peter Phillips Chapter 1 A modern financial system Learning objective 1.1: explain the functions of a modern financial system • The introduction of money and the development of local markets to trade goods were the genesis of the financial system of today. • Money is a medium of exchange that facilitates transactions for goods and services. • With wealth being accumulated in the form of money, specialised markets developed to enable the efficient transfer of funds from savers (surplus entities) to users of funds (deficit entities). • A modern financial system comprises financial institutions, instruments and markets that provide a wide range of financial products and services. • A financial system encourages accumulated savings which are then available for investment within an economy. • Financial instruments incorporate attributes of risk, return (yield), liquidity and time–pattern of cash flows. Savers are able to satisfy their own personal preferences by choosing various combinations of these attributes. • By encouraging savings, and allocating savings to the most efficient users, the financial system has an important role to play in the economic development and growth of a country. Learning objective 1.2: categorise the main types of financial institutions, being depository financial institutions, investment banks and merchant banks,...
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...Executive Summary: This report focuses on the importance of contract between two parties before commencing final deal. It will discuss the major outlines required in a commercial contract, the essential terms and conditions which both parties agree to and the clauses upon which the deal is finalized. Since the case is based on sale of good it will therefore include terms and conditions on which the contract is formed and the desired actions from both parties. The terms on which the sale of good is made and the clauses which make the contract null and void. The report will discuss the contract from seller perspective including the processes involved and stages throughout the selling process through a commercial contract. However, the report will also consider the buyer perspective as no contract is formed without the consent of two independent bodies therefore the terms and conditions laid down by buyer on which the sale is to be made will also be highlighted. The contract serves as a purpose to cushion both the parties against any foreseeable losses and provide a guideline to perform a profitable deal which provides a mean to conduct business. Therefore contracts cover every concerned authority involved with definite understood terms upon which they agree and sign contract. Upon finalizing, the contract serves as a mean to seek the guideline for desired actions and basis of deal and as and when necessary might be used as a measure to prevent from any loses with the help of...
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...between various types of financial markets according to function • Appreciate the importance of globalisation • Understand the effects and consequences of a financial crisis on a financial system and economy 1-3 1 Functions of a Financial System • Money – Acts as medium of exchange – Solves the divisibility problem, i.e. where medium of exchange does not represent equal value for the p q parties to the transaction – Facilitates saving – Represents a store of wealth 1-4 Functions of a Financial System (cont.) • Role of markets – Facilitate exchange of goods and services by bringing opposite parties together establishing rates of exchange, i.e. prices • Financial Markets consist of: • Surplus units – Savers of funds available for lending • Deficit units – Borrowers of funds for capital investment and consumption 1-5 1.1 Functions of a Financial System (cont.) 1-6 2 Functions of a Financial System (cont.) • Financial instrument – Issued by a party raising funds, acknowledging a financial commitment and entitling the holder to specified future cash flows • Double coincidence of wants satisfied – A transaction between two parties that meets their mutual needs 1-7 Functions of a Financial System (cont.) • Flow of funds – Movement of funds through the financial system between savers and borrowers giving rise to financial instruments • Financial system – Comprises financial institutions, instruments and markets facilitating transactions for goods...
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...working capital. The financial statement numbers are from the 2011 Financial Analysis class at Western Governors University. The working capital for Competition Bikes, Inc. in 2008 is listed on the balance sheet. The cash and cash equivalents for 2008 increased from 2007 by 275.4%. The amount of increase was $326,475.00. The total for 2008 was $445,024.00 dollars. In this analysis, I will discuss ways to improve the working capital, and ways to use excess working capital to generate an increase in profits. Ways to Improve Working Capital In considering assets, there was a 15% decrease in accounts receivable in 2008. To improve accounts receivable, the company needs to make more sales. In the event of a downturn in the economy, the narrow focus of the company could make it difficult if not impossible to achieve the kind of growth investors really want to see. To compensate for this, the company could offer limited edition mass produced affordable bike models that are not tailored to each rider. This limited product line could help achieve several things. It could expand potential customer markets to riders who want a Competition Bikes, Inc. bike but don’t want to pay the higher prices. In addition, the new limited edition product lines would potentially create consumer excitement and encourage increased purchases during the economic downturn. Overall, this strategy would most likely increase total assets in the following ways. Cash and cash equivalents would increase due to increased...
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...Flow of foreign direct investment: The amount of foreign direct investment undertaken over a given time period (normally one year). An example of foreign direct investment would be an American company taking a majority stake in a company in China. Stock of foreign direct investment: The total accumulated value of foreign-owned assets at a given time. For example, French enterprises have been significant foreign investors for McDonald’s; some 1,100 French multinationals account for around 8 percent of the global stock of foreign direct investment Common law system is based on tradition, precedent, and custom. Tradition refers to a country’s legal history, precedent to cases that have come before the courts in the past, and custom to the ways in which laws are applied in specific situations. It differs from a civil law system which is based on a detailed set of laws organized into codes. When law courts interpret civil law, they do so with regard to these codes. Factor endowments are the extent to which a country is endowed with such resources as land, labor, and capital. A simple example of a factor endowment with respect to land would be the presence of natural resources such as oil. Countries with abundant oil tend to export oil, focusing internal resources toward producing the factor they have in quantity. Angola is an extreme example of such specialization: oil accounts for 98% of its exports or for instance, as China's labor force has grown more skilled, wages have risen...
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...Name: University: Course: Instructor: Date: International Commercial Law Introduction International commercial law is the law regulating trade between different countries in the world. It acts as a regulatory agency and harmonizes all trade agreements between nations in the international trade that is made up of trade agreements between members subject to international trade. The main objectives of international trade law is to ensure that there is international trade relationship, helping in resolving disputes affecting trade, enforce the use of a common goal, provide the most efficient way of conducting international business, regulate trade and promote fair and free trade in the global market (Ingo 2012). However, if there is no law guiding certain part of international trade, then it is upon the parties to the trade to discuss the laws and policies to be used in such circumstances. The point of conflict in this case is usually the law that is to be used in solving the conflicts when they arise. In most cases, the implementation of world trade agreements is hampered by protectionalism policies taken by different countries while protecting their economies. This is because free trade also has negative economic effects on the country's industries and this is the reason why most countries prefer to protect their economies from time to time. Regional Trade Agreements have been on the rise and the numbers of regional trade agreements continue to increase in the recent...
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...Economic Growth is the increase per capita gross domestic product (GDP). There is a distinction between nominal and real economic growth, where the first is the growth rate including inflation, while the second is the nominal rate adjusted for inflation. Moreover economic theorists distinguish short-term economic stabilization and long-term economic growth. The topic of economic growth is mainly related to the long run. Short-run variation of economic growth is termed the business cycle. The long-run path of economic growth is one of the central questions of economics. In 1377, the Arabian economic thinker Ibn Khaldun provided one of the earliest descriptions of economic growth in his Muqaddimah (known as Prolegomena in the Western world) (cited in Weiss, 1995): When civilization [population] increases, the available labor again increases. In turn, luxury again increases in correspondence with the increasing profit, and the customs and needs of luxury increase. Crafts are created to obtain luxury products. The value realized from them increases, and, as a result, profits are again multiplied in the town. Production there is thriving even more than before. And so it goes with the second and third increase. All the additional labor serves luxury and wealth, in contrast to the original labor that served the necessity of life. Economic growth is an important part of economic theory and one of the most significant problems economists tried to explain is the differences of growth...
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...TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 3 1. OVERVIEW OF ACTIVITY 4 Activity Objectives 4 Reasons for Proposing the Activity Now 4 Impact if the Activity is not Approved 4 Expected Outputs 4 Performance Measurement 4 Conclusion 4 3. NEEDS ANALYSIS 5 Overview 5 Market Analysis 5 Situation Analysis 5 Competitor Analysis 5 Environmental Analysis 5 Output Analysis 5 Conclusion 6 4. CONSULTATION 7 5. INTELLECTUAL PROPERTY 8 Assignment of Intellectual Property 8 New Intellectual Property 8 6. COST/BENEFIT ANALYSIS 9 Budget 9 Benefits 9 Insurance 9 Taxation 9 Competitive Neutrality (Applicable to activities delivered within Australia only) 9 Staffing Requirements and Costs 10 New Staff 10 Staffing located at Third Party 10 7. DUE DILIGENCE ASSESSMENT (ONLY IF THIRD PARTY INVOLVED) 11 Description of third party 11 Location of Third Party 11 Governance of Third Party 12 Financial Viability and Sustainability 12 Academic Experience and Capability 12 Conclusion 12 8. RISK ASSESSMENT (incl corruption assessment) 13 Conclusions 13 9. GOVERNANCE, MANAGEMENT AND LEGAL 14 Legal structure 14 Compliance Obligations 14 Management Plan 14 Audit of Activity 14 Conclusions 14 11. TIMELINES AND REPORTING 15 1. EXECUTIVE SUMMARY In this section, provide a concise overview of what you are proposing and why it should be supported. This...
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...intermediaries…………………………..4 The non-deposit-taking financial intermediaries………………………6 The Impact of non-depository financial institutions…………………..9 How to facilitate the transfer of liquidity from surplus to deficit units in the economy………………….. ………………….. …………………..10 The process of financial intermediation In a market economy, the savings - investment into the process is carried out around the financial intermediaries to financial intermediation of savings into investment in the basic process of institutional arrangements. The basis of the existence of financial intermediaries such as the field has been the concern of financial. Financial intermediaries to discuss the issue, we must first make the meaning of the definition of financial intermediaries. Financial intermediation by the banking financial intermediaries and the general non-bank financial intermediaries form, specifically including commercial banks, securities firms, insurance companies, and information consulting services and other intermediary institutions, finance is the core of modern economy. Books related to financial intermediation. In the modern market economy, the financial activities closely with the economy, the scope of financial activities, quality directly affects the performance of economic activity, almost all financial activities are central to financial intermediaries for the start, therefore, economic activity in financial intermediation occupies a very important position...
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...TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 3 1. OVERVIEW OF ACTIVITY 4 Activity Objectives 4 Reasons for Proposing the Activity Now 4 Impact if the Activity is not Approved 4 Expected Outputs 4 Performance Measurement 4 Conclusion 4 3. NEEDS ANALYSIS 5 Overview 5 Market Analysis 5 Situation Analysis 5 Competitor Analysis 5 Environmental Analysis 5 Output Analysis 5 Conclusion 6 4. CONSULTATION 7 5. INTELLECTUAL PROPERTY 8 Assignment of Intellectual Property 8 New Intellectual Property 8 6. COST/BENEFIT ANALYSIS 9 Budget 9 Benefits 9 Insurance 9 Taxation 9 Competitive Neutrality (Applicable to activities delivered within Australia only) 9 Staffing Requirements and Costs 10 New Staff 10 Staffing located at Third Party 10 7. DUE DILIGENCE ASSESSMENT (ONLY IF THIRD PARTY INVOLVED) 11 Description of third party 11 Location of Third Party 11 Governance of Third Party 12 Financial Viability and Sustainability 12 Academic Experience and Capability 12 Conclusion 12 8. RISK ASSESSMENT (incl corruption assessment) 13 Conclusions 13 9. GOVERNANCE, MANAGEMENT AND LEGAL 14 Legal structure 14 Compliance Obligations 14 Management Plan 14 Audit of Activity 14 Conclusions 14 11. TIMELINES AND REPORTING 15 1. EXECUTIVE SUMMARY In this section, provide a concise overview of what you are proposing and why it should be supported. This...
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...1. Define Finance. Discuss the principles of Finance. According to L J Gitman, “Finance is the art and science of managing money.” Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among and between individuals, business and governments. Finance deals with-Financing, investment and dividend. Principles of Finance * Principles of risk and return: It says, “No risk, No gain” * Principles of time value of money: while making any investment decision, time value of money should be considered. * Principles of Liquidity and Profitability: Need balance of liquid money. * Principles of Perfection: Current assets, fixed assets should be collected with careful consideration. * Principles of Business Cycle: Business depends on various economic conditions (Boom-Recession-Depression-Recovery-Boom.) * Principles of Diversification: Do not put all eggs in one basket. 2. The ultimate goal of a business is to maximize wealth, not profit maximization-Explain. Shareholder’s Wealth Maximization means maximizing the price of the firm’s common stock. It means to increase the net present value of a firm. Shareholders' wealth is maximized when a decision generates net present value. The net present value is the difference between present value of the benefits of a project and present value of its costs. A decision that has a positive net present value creates wealth for shareholders and a decision that has a negative...
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