Two Sides of the Same Coin Essay Example

Cut out of the same cloth Paper Investigate the adjustment in character of Michael Henchard all through the novel, the Mayor of Casterbridge Through the whole novel Michael Henchard, his civil office giving the books eponymous title, depicts a tireless variance of character. Initially, we see that he is driven by fierceness and hastiness yet; his cruel abuses reveal a wellspring of adoration profound inside his body. This doesn't just look like his inner conflict, yet in addition fortifies the way that the Mayor of Casterbridges activities have either been fuelled by desire or just drove by destiny. Directly from the earliest starting point, Thomas Hardy proposes that his story will spin around one focal character, as he captions his book: The Life and Death of a Man of Character. However, in this tremendous world, Henchard, a minor drop in the sea, has been singled out and schemed against by fortune. We will compose a custom paper test on Two Sides of the Same Coin explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Two Sides of the Same Coin explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Two Sides of the Same Coin explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer In what some state as the introduction of the novel, parts one and two element the primary curve in Henchards life. The Furmity Scene sees the selling of Susan Henchard to a mariner, who was in secret by the rest. This is thusly, the primary indication of hastiness, which defeats Henchard. It can likewise be inferred that his destiny had gone bad in light of the fact that the bartering was going to end vainly until, at the last possible second, Mr. Newson, by chance had entered the tent inside the last a few minutes and consented to buy Mrs. Susan Henchard for five guineas. Notwithstanding, I imagine this is anything but a reasonable judgment of Henchards character, as he was affected by liquor and his withdrawnness had transformed into intoxicated rage. However, I go to the underlying explanation behind Henchards appreciation for the rum in the furmity. It is glaringly clear that Henchard is miserable. From the crowds eyes, Thomas Hardy portrays the absence of correspondence among a couple, and the quietness they safeguarded. From this and Henchards essential responses, apparently Henchards despairing disposition is because of the way that he has hitched youthful and right now fathers a youngster by the name of Elizabeth Jane. In his detest and endeavor to look for retribution at anything he can consider, Henchard rescues himself by drinking to facilitate his feelings, however this through and through winds up making him more forceful than previously. By and by, Henchards rash and hesitant way drives him to make a vow in this serious spot (the congregation) and he will stay away from every solid alcohol for the space of twenty years to come. However this shows on one side of Henchards coin, there is this unpleasant fervency, anyway it very well may be in a split second flipped over to uncover a feeling of disappointment and regret. It likewise infers that Henchard has a solid confidence in God and that reality that he swears on the holy book proposes that he is good and strict. Besides, the point that he saved his vow for precisely twenty years shows a decided and unflinching character. Aside from his reflecting feeling of personality, two different powers likewise pull Henchard. Like a manikin on strings, Henchard either acts to the solid take of destiny or of desire. The main look at desire is seen when Henchard gets Farfraes letter in the wake of selling his better half eighteen years before that. During that period, Michael had earned a respectable situation in the network: The Mayor of Casterbridge. Having the option to arrive at such a status demonstrates, that Henchard isn't just skillful, yet in addition fit for meeting his objectives throughout everyday life. Not long before tolerating Farfraes letter, Michael Henchard was in the midst of a gathering with individual chamber individuals. His direct, straightforward methodology implied that he enthusiastically conceded, the wheat had turned out seriously. Likewise, his moment response to the note explains that Henchard is still as rash as he used to be almost twenty years prior. The genuine experience with Fa rfrae reveals an admirable exertion from Henchard. He quickly makes a decision about him decidedly. He accepts that if this man (Farfrae) can support him, he should be agreeable. Notwithstanding, Henchards abrupt loving could be because of the tremendous comparability among Farfrae and Henchards poor sibling whos now dead and gone. So accepting is Henchards character, that when Farfrae had rejected his proposal to come back to his home for preferred food over virus ham and beer, Henchard restored the following morning to convince Donald to go under his belt as director of the corn and roughage business. Be that as it may, when Farfrae was at Henchards store, he gently referenced what experiences and will difficulty Henchard for any longer: Should a man turrun against destiny? As Henchards dealings with Farfrae became more grounded and progressively visit, Henchard started to expose his actual sentiments and open accounts of the past. His enjoying and trust in Farfrae drove him to discuss the recollections that obfuscated his dishonorable past. Henchard additionally concedes that he is a forlorn man and has no one else to address. His absence of drinking implies that he gets no opportunity to mingle and subsequently make companions. So at the primary possibility of a genuine companion, Henchard trusts Farfrae pr omptly and reveals to him everything. His steady steadiness drove Farfrae to be employed and simply because Henchard loved Farfrae very much did he feed and safe house him; the person who was to cause Henchard torment and misery. Henchard is fit for indicating limits of feeling in the two bearings. By the by, his savage and obtuse associations with Jopp, just expands the loathe I feel against Henchard. I for one accept that Henchard discovers individuals to utilize, and when he no longer needs them, he disposes of them like junk. A prime case of this is when Henchard rejects Jopps the board offer with the free reason that: Jopp was past the point of no return and as he didn't keep his arrangement, Henchard connected with another supervisor. This hypothesis is additionally connected to the significance of letters in this novel. Letters and his starter reactions towards them, oversee each key occurrence in Henchards life. In his letter to Jopp, Henchard expressed Thursday or Saturday for the arrangement. All things considered, with the possibility of a superior director who may help him in his period of scarcity, Henchard excused the man who he had in the same class as connected and picked Farfrae. With one more letter, Henchard encounters the spouse he repudiated around twenty years prior. Gradually, Susan Newson reenters his life by one of his cleverness plans, which fundamentally implied that through time, Henchard suited the widow Mrs. Newson and her girl. At that point he would meet her, court her, and wed her. This in this way would prompt Susan going into Henchards house, without stimulating any doubt or uncertainty. On one hand, Henchard is making a decent attempt to present appropriate reparations in light of his slip-ups, by guaranteeing that they lease a bungalow. His humility is really acknowledged when he argues for Susans absolution and says: judge me on my future works. In any case, then again, apparently Henchard just acts pleasantly to facilitate his feeling of remorse. Concerning this issue, Henchards honesty is set up when he promptly reveals to Farfrae the new turns throughout his life. His circumstance is currently laid before Farfrae, who Henchard accepts can't just assistance him in his monetary, however social emergency too. After discourteously charging somebody, Henchard is constantly disillusioned about what he has done. Without intuition, he carelessly says what first goes onto his head and when he later has the opportunity to survey his conduct, with diminish fear, he regularly laments a considerable lot of his past slip-ups. This execution of misery includes excessively well in the arrangements and results of the tenth commemoration festivities. To rival Farfraes fast developments, Henchard was not to be classed as a contender no longer available. In his flurry to come top, and recover the position that he felt was gradually sneaking away to Farfrae, Henchard regardless of this, tossed cash into a merriment, which was bound to come up short. So it was to be, Henchards doomed connect to destiny, drove him to one more terrible goof. It was in joining the last parts of Farfraes exhibition, did Henchard say those lethal words: Mr Farfraes time as my supervisor is attracting to a nearby. Immediately, Ha rdy makes it clear that, Henchards wavering feeling of character made his heart sink inside him since his currently passed desirous temper revealed a sharp sentiment of contrition. Henchard was likewise ready to make the dangerous misinterpretation of having the option to pass judgment on the climate. Michael Henchard is frequently connected to Shakespeares Lear, because of the way that the two of them are definitely denied of the ones they cherished in their later life and passing on days. His decency and significance are cut by his horrendous at various times activities. Likewise contrasted with Farmer Boldwood, from Thomas Hardys Far from the Madding Crowd, Henchard scarcely varies. A respectable figure in the public eye presented to general society as a totally extraordinary man. With these connections to the network, I feel Hardy is attempting to show that nothing is ever covered up and it will come out, possibly not currently, however later on. Not to totally judge Henchard on a few his words, I imagined that his fair way towards Farfrae, after the discourteous excusal, depicted his actual feelings. When catching wind of Farfraes overthrow for setting up himself freely, Henchard concurred it was just option to permit Farfrae to have a go at the corn-selling business. This ch oice shows that Henchard is as yet good. We are caused to feel thoughtful towards Henchard when he understands that he is separated from everyone else at home once more. His arrangement of Farfrae as his supervisor was disturbed by his envy. His disdain of a family made him surrender love for aspiration. He figured he could be cheerful when Susan returned, yet she passed on not long after

Have People Become Overly Dependent on Technology? Essay

The idea of how much innovation individuals use every day can be startling as one mulls over. From awakening to our morning timer to resting with the forced air system on we are continually utilizing innovation. The age we live in is known as the time of innovation and the time of â€Å"progress†. Point of fact, innovation has made living a lot simpler as an individual and as a general public. Vehicles, prepares, transports, and planes with cooling and the speed of a hundred ponies has made going under any climate condition incredibly advantageous; so saying innovation has not profited individuals would be unreasonable. Nonetheless, with every one of these advantages and pretty much every errand including the utilization of innovation the inquiry emerges, have individuals gotten excessively reliant on innovation? There is a contrast between being reliant on something, and being excessively subject to something. Simply being reliant on something could imply that quite possibly in the event that it was gone, at that point it would cause the individual no damage, however when somebody is excessively subject to something, at that point the vanishing of the free would hurt the individual. As I would like to think individuals have unquestionably gotten excessively subject to innovation on account of many explanation. Quite a bit of my proof introduced are articles composed, reviews directed, and individual encounters that I have had. Articles have been composed and studies have been directed to discover how ward individuals are on innovation. I am going to introduce statements and confirmations from articles and writing that clarify how innovation has developed in people groups lives and has dominated. Chanie Kirschner presents some intriguing focuses on how individuals are excessively subject to innovation in an article composed not exactly a year back; one of which is â€Å"when the web is down, work is over for the day† this is consistent with an incredible degree (Mobile). Schools have let understudies out early on the grounds that the force was out and no work should be possible. The subsequent point is that â€Å"buyer’s regret is considerably more common.† Internet shopping has become so normal and helpful that individuals areâ forgetting how to deal with money and don't know from which store to purchase a specific thing from any longer since everything can be discovered on the web. The third point is that â€Å"you don’t live in the moment.† He gives a model that a parent goes to see the exhibition of his/her kid and is too occupied with getting the camera to work or is glancing through a screen that the genuine encounter is no more. This likewise implies individuals are amazingly reliant on innovation and advanced media to go anyplace on the planet. Instead of letters and composed articulations individuals rely upon recordings and voice accounts which can undoubtedly be deceivable. The fourth point that Chanie gives is that â€Å"nobody knows aâ phone number.† Cell Phones have become so normal that 90% of American Adults have a mobile phone. As indicated by the above diagram, most of Americans have a cell phone. Cell phones have the ability to contain reports, telephone numbers, GPS and that's only the tip of the iceberg. All which are abilities that individuals rely upon their telephone for, without the telephone individuals would not recall a telephone number or even know step by step instructions to get around in their own city. Understudies are incredibly reliant on spell check and auto right that composing a paper by hand would be amazingly troublesome. The fifth point that was introduced is that â€Å"You are fearing saying a final farewell to your beau face-to-face.† Although Chanie gave an individual model, it can in any case identify with the way that individuals are excessively subject to innovation to speak with others. From connections to online meetings, individuals are overlooking how to speak with others eye to eye. The 6th point that was introduced is that â€Å"Brick and mortar stores are going the method of the dinosaurs.† As I expressed before in the paper, internet shopping has become so helpful that independent companies and markets are failing and online organizations, for example, â€Å"Amazon† and â€Å"Ebay† are blasting. The Final point that Chanie gives is that â€Å"Without your telephone, you fee l naked.† People are not just subject to telephones with their day by day lives however with their wellbeing too. A youngster that has lost his/her mobile phone experiences mental pressure. The discipline for a kid that ten years prior used to be disallowing them to head outside and play is presently takingâ away their hardware. The inquiry to pose to comprehend if individuals are really excessively subject to innovation is, would they say they are ready to live without it? In a survey by CNET, 28 percent of individuals said they wouldn’t have the option to live without fast Internet (America). Innovation is gradually overwhelming people’s lives and is turning into a need instead of a need, similar to the writer of a factious convincing exposition composes, â€Å"Ultimately, we can say that ,†living without innovation resembles living without air† in this specialized universe of today.† An article composed by Ismat Tahseen titled â€Å"How subordinate are we on technology† states â€Å"The review †of 12,000 grown-ups from Brazil, China, France, India, Indonesia, Italy, Japan and the US †found that about 61% twenty to thirty year olds (those matured 18-24) accept that innovation is right now making individuals less human. It uncovered that in spite of being the advanced local age, 59% of twenty to thirty year olds felt that society has gotten recently excessively dependent on innovation, a site reported† (Times of India). It is evident through the confirmations and writing introduced that individuals are gotten excessively reliant on innovation. The case of schools being closed down is in of itself enough to comprehend that the instruction framework today is so reliant on innovation that it can't proceed without it. Alongside business that can't proceed without coolers or enrolls or even lights. Excessively relying upon somthing or totally relying upon somthing comprise of the failure to proceed without it for instance the GPS that was expressed before. In the event that the GPS quits dealing with an excursion, at that point the individual would need to go to a store close by and request bearings and the one giving headings can unfortunately know a limited amount of a lot. An individual leaves on an excursion completely relying upon his vehicle and GSP and doesn't get ready for the most dire outcome imaginable which would be his vehicle, telephone, and GPS quit working. This is a reasonable sign that individuals are excessively subject to innovation. The general public we live in today has become so quick that individuals must rely upon innovation so as to get by and endure. All the focuses expressed by Chanie interface with the over reliance on innovation and the way that it would be bedlam if all innovation was hacked and all force shutdown. All in all most of individuals themselves concur that individuals are excessively subject to innovation and even 29% of individuals state they can't live without rapid web. Its been expressed that individuals rely upon innovation for data, travel, andâ communication. It was additionally said that schools and organizations can't proceed without innovation. As per the exploration led, plainly individuals have gotten excessively reliant on innovation. Works Cited â€Å"America has gotten excessively reliant on technology.† UAB Kaleidoscope. N.p., n.d. Web. 2 July 2014. . â€Å"Argumentative Essay.† Susan Yaroshevich. N.p., n.d. Web. 2 July 2014. . â€Å"Mobile Technology Fact Sheet.† Pew Research Centers Internet American Life Project RSS. N.p., n.d. Web. 29 June 2014. . â€Å"How subordinate would we say we are on innovation? †The Times of India.† The Times of India. N.p., n.d. Web. 2 July 2014. .

Why I Quit Goodreads

Why I Quit Goodreads A few months ago, I quit Goodreads. Partly, I was paring back my social media life to those that are most useful to me  (Twitter) or make me happiest (Instagram). Partly, I found the Kathleen  Hale controversy  profoundly upsetting. But mostly, I was just sick of being harassed. I was tired of being questioned by authors or rabid fans about my three-star reviews (by the way can we talk about how a three-star review is not a bad review, people?), messaged and spammed and poked at to read someones self-published magnum opus, and invited to everything all over the world always. But those are minor annoyances. The Kathleen Hale controversy snapped into focus something I had always kind of wondered about: as a woman, putting my views on the internet is an act of risk-taking. And this is gendered, folks. I dont think Hale would have stalked a male commentator, and I know my male colleagues here at Book Riot get very different reactions for saying the same things my female colleagues do. This is about being a woman who wants to exercise her voice, and this is about the people who will always read that voice as a threat. Once, a week or so before I deleted my Goodreads account, I gave a book that shall remain nameless a two-star review. A man  claiming to be the authors publicist messaged me to ask that I reconsider. I ignored the message (I never had that many followers on Goodreads and it seemed to me that I was a small potatoes target) and, a day or so later, received an angrier message, this time demanding that I take down the review. I wrote back and noted that I had made some positive points about the book but that overall it didnt work for me. Reviews on Goodreads, I noted, are personal reflections for the most part mine certainly were and I wasnt condemning the book as a whole. The person wrote back and asked, How would you like it if people used the internet to say mean things about you? It can be done, you know. Hm, I thought to myself. Hm. Kathleen Hale just drove to some Goodreads reviewers house. Theres that weird blog for bitching about badly-behaving reviewers. And this guy is being kind of threatening in a way that I dont like. Whats the cost-benefit for me to stick with Goodreads, in this context? So I didnt. I quit. I dont think naming and shaming is appropriate here, because who even knows if that person really was the authors publicist? I didnt write down the name and I didnt look it up. If theres one thing Ive learned, its that book people on the internet can be  crazy. But it doesnt actually matter: what matters is that I felt genuinely unsettled by the aggression with which this person approached me. Goodreads, a central hub of my beloved bookternet, was not safe for me. Events of the last few weeks, many of which youve read about one these pages, got me thinking again about my experience on Goodreads. And it also got me thinking about all the times Ive been talking about books and what I value about them on Twitter only to have men who are complete strangers enter my feed to assail my feminism, my appearance, my body, my voice, my place in the world. At least once a week, now, I block a handful of people and move on. It got me thinking about how often I read articles on book sites (not, blessedly, this one, with its carefully managed community and moderated comments) where I have wanted to join in the discussion, only to read the comment threads full of male aggressions and personal attacks, racism and sexism and threats of violence, and think: no, this is not for me. My voice is not welcome here. At least once a week, now, I scroll past a comment thread and move on. This is a problem that is wider than us in the bookternet but it is, make no mistake, a problem in the bookternet. We were supposed to be the safe space for intellectual discussion of this act of reading that we so love. And yet. Listen, I am not an especially soft person. I came of age on the internet as a member of the forums of SomethingAwful and I know how dark the internet can be. But thats the problem the bookternet wasnt supposed to be SomethingAwful or 4Chan or Red Pill. The bookternet should be a place where we can talk openly about representations of women in literature, about  the unbearable whiteness of publishing, about the need to read diversely. And we should be able to do it, as women, without fearing gendered attacks and silencing. When I say the bookternet is not safe for women, I mean it. Thankfully I have never been physically attacked or directly harmed by my experiences tweeting and blogging about books. But I have certainly been made to feel unsafe, to live on the defensive, to question the motivations of those who engage with me, to block first and ask questions never. Thats not the person I want to be, but its the person I must be if I wish to have a public voice on a big platform like Book Riot. If I have to choose between my sweetness and my voice, my voice will always, always win. It has to. But that doesnt mean  there arent casualties. My Goodreads account was a casualty. Somedays, my sanity and strength feel like they might be the next to go. But its empowering to know that though the bookternet is not safe for women, there are other people who will help me fight to change that. As I was drafting this post, I had a conversation with a woman I find brave and brilliant and wise, but she is currently dealing with on- and off-line aggression of a level I have never had to process. As we talked today, we came to realize that there is a gap between male and female experience: men often do not understand the impact of comments they make on the women who have to hear them.  Just like a man might never think twice about walking down the street at night behind a woman while that woman is wondering if she is being followed, what might seem like a harmless joke from a man to a woman on Twitter may in fact be another threatening second in a day filled with them for that woman. And when the woman expresses anxiety or dismay, the response is, I was joking. You misunderstood me. Im not that guy. This, I think, is an empathy gap, where people who perhaps do not think they mean to aggress do so simply because they are unaware of the power of their words. Lets be clear: you are not the first person to call me a feminist whore on Twitter. Maybe if you were, your words wouldnt have such an impact. But when youre the fifth in a day, or the hundredth in year, then maybe this isnt about me overreacting maybe this is about they way we use language to make discussion scary and inaccessible for women. This isnt unique to the bookternet. But this is something the bookternet must address. So I open it up to you, Book Riot commenters.  The bookternet is not safe for women. What comes next? ____________________ Book Riot Live is coming! Join us for a two-day event full of books, authors, and an all around good time.

The United States And Foreign Policy Essay - 4400 Words

In contemporary, international society the United States is at the forefront of global affairs. Moreover, scholars have argued that after the First World War, American hegemony led a path for a liberalized world, where cooperation and harmonious institutions unit the world. However, the United States historically has never been this type of hegemonic leader. Rather from their conception as a nation they had a foreign policy which isolated them from foreign affairs of the world, from President Washington to President Glover no president had initiated a war that was not on American soil or for their state s survival. Thus, after a century of isolationism at the forefront of American foreign policy, what event forced the realization of US dominance in international society? Due to the American victory in the Spanish-American War, the previous principles of isolationism as the foreign policy of the United States was undermined, thus forcing the US to acknowledge their new political statu s in the global power of states and their cemented hegemonic leadership of the Western hemisphere. Therefore it is the purpose of this essay to analysis and examine the Spanish-American War, President Mckinley’s foreign policy, the American public reaction, the aftermath and the European perception of America s rise in international society. Moreover, this essay will attempt to analysis the position of America at war and the transition in international status that came as the result. DuringShow MoreRelatedForeign Policy, Reformed, And The United States1437 Words   |  6 PagesStefan Danilov Pol S 321 B Professor Robin Datta Response Paper 1, Prompt 1 October 18, 2015 Foreign Policy, Reformed Looking back at the history of the United States, we find ourselves in the midst of a revelation. The country of grandiose influence and excessive wealth, that we have come to know during our lifetimes, actually had quite humble beginnings. At a time when most of us are used to having most countries come to the US to inquire for help and assistance, we may not be all too aware thatRead MoreThe United States Foreign Policy1667 Words   |  7 PagesAs Kelly Anderson’s Foreign Policy Analyst, the following memo will address three areas of the United States’ foreign policy. The U.S. has gone through may transition when it comes to its foreign policy. The United States has been an isolationist, neutralist, and internationalist country from the year it was founded to now. 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The United States was on its way to becoming a world power and advancing its own interest in the world, especially in the North and South America. Isolationism caused the United States to avoid being involved in other countries politics and for the U.S. to remain neutral in foreign policy Americans in the 19th century were more interested in domestic events than the affairs of foreign countries. Economic growth andRead MoreThe United States And Foreign Policy1633 Words   |  7 PagesThe United States has always had an erratic view towards foreign policy. At its conception, it leaned isolationist for about a century leading up to the First World War before opening up to the global stage. In the interwar period, the United States retreated somewhat back into isolation but continued to support Europe and Latin America. After World War 2, America was left to assume the role as the global hegemonic power, both willingly and unwillingly. Unique circumstances such as the destructionRead MoreThe United States Foreign Policy975 Words   |  4 PagesThe United States Foreign policy in the Middle East Since the United States became the world’s sole superpower, the Middle East has been seen as the most troublesome region in the world by US politicians. This view emanates from all the conflicts going in the Middle East that have the potential to threaten numerous strategic interests for the united Stated such as oil, terrorist, and Israel. Yet Middle East has never seen as problematic as it is now due to the excessive flux of problems the MiddleRead MoreThe United States And Foreign Policy1786 Words   |  8 Pagesthe United States showed little interest in foreign affairs. The U.S. relied on previous foreign policies which resulted in inconsistent international trade in the years leading up to the twentieth century. However, following the rise of the industrial revolution in the United States American business began to recognize the vast potential of the international market place. The U.S. sought out to expand its territory globally to increase trade and protect its assets more effectively. The United States

Confucianism And Its Influence On Society - 2178 Words

Confucianism can be regarded as a religion, a belief, a way of ruling and a basis for laying the ground rules for the East Asian countries. Confucianism had gone through so many transformations and has been affected by many religions and dynasties. Many dynasties have adapted the ways of Confucianism, which state that there is a connection between humans and heaven. However, as time progressed, religions such as Buddhism and Daoism also adapted the ways of Confucianism, but they changed some of its ways, leading to new form of this learning. The Buddhists and the Daoists changed and adapted their philosophies based on Confucian views towards the universe and the society, as well as stripping their own belief from superstitions and myths. These lead to a new learning of Confucianism, called the Neo-Confucianism, referred to as Dao Xue (the Learning of the Way) or Li Xue (the Learning of the Principle/Reason) (Yau 8). Neo-Confucianism was adopted into Korean, Japanese, and Vietnamese schools. While it was mentioned that it was mostly Buddhism that lead to new changes in Confucianism, other religions played an important role in adapting and changing the method as well and were adopted by different Asian countries. The Christian approach towards Neo-Confucianism was mostly practiced around Korea, China, And Vietnam; the Islamic adaptation was practiced in other parts of China as well as Central Asia; and Neo-Buddhism approach was practiced in parts of Japan and Chine. 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He was born in 551 BC, in Zou, Lu state in a family that was in between common people and aristocrats. He never held a high-class job, only working as a shepherd, cowherd, clerk, and a book-keeper. His mother died when he was 23 and he then mourned for three years, an Ancient Chinese tradition. LuRead MoreInfluences of China Essay698 Words   |  3 Pages Daoism, Confucianism, and Legalism To understand China’s current government you need to look at its influences. Daoism involves a deep acceptance of the rhythms of nature and the way of all things (World Religions); which effects people’s personal beliefs and is one of China’s main religions. Confucianism helped pave the way for communism and still is a powerful philosophy today. The ideas of Legalism directly affect the Chinese government. 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(faithresource.com†¦). Hinduism was brought to India by the Aryans around the year 1500 B.C.E. (janesvilleparker.org†¦). Although these two belief systems originated at different times they still share many similarities as well as many differences. Confucianism and Hinduism are two religions that shared many similarities. Such similarities are the idea that both were used as an outline for the way one should live his/her

Fj Benjamin Free Essays

FJ Benjamin Holdings Ltd# (SGX: FJB) 18 July 2012 Receding tides at the fashion and timepieces retailer UNDERWEIGHTTarget Price: S$ 0. 09 Price (as at 18 July 2012) | Bloomberg| 12-month Range| Market Capitalization| S$ 0. 33| SGD 0. We will write a custom essay sample on Fj Benjamin or any similar topic only for you Order Now 3300| SGD 0. 26 – 0. 365| SGD 203 Million| 3 Points that convince us of a Sell rating: * Something 1 Explanation * Something 2 Explanation * Something 3 Explanation Year End: Jul| 3QFY11Results| 3QFY12Results| YoY % Growth| YTD % as of FY2012| Revenue (S$’000)| | | | | Retail| | | | | Distribution| | | | | Licensing| | | | | Gross Profit| | | | | Gross Margin| | | | | EBIT (S$’000)| | | | | EBIT Margin| | | | | Net Profit| | | | | Net Margin| | | | | EPS| | | | | DPS| | | | | NAV/Share| | | | | Headquartered in Singapore, SGX-listed F J Benjamin Holdings Ltd. (FJB) builds in-house and develops international lifestyle and luxury brands across Asia and recently in the Western markets too. With a portfolio of over 20 celebrated brands, the group divides itself into four core businesses: 1. Luxury and Lifestyle Fashion Retailing and Distribution; 2. Timepiece Distribution; 3. Design and Manufacturing of their in-house brand RAOUL . Investing in Lifestyle Concepts Section I: Industry Analysis SWOT Analysis Strengths Wide retail network FJB operates 191 stores across Singapore, Malaysia, Hong Kong and Indonesia in prime locations to cater to its premium customers and tourists and help maintain the competitiveness of the Group. Wide diversified luxury and lifestyle brand portfolio The brand portfolio comprises over 20 iconic luxury and lifestyle brands. A diversified portfolio of scalable brands helps the Group mitigate the vulnerability of luxury brands in an economic downturn. Multilingual retail staff improves customer service * FJB believes in investing heavily in retail staff training to increase service quality and language proficiency to serve tourists who visit the stores from various regions. Strong balance sheet and positive cash flow allow FJB to fund its CAPEX plans FJB maintained SGD7. 7m of net cash at the end of FY2012 despite incurring capital expenditure rising by 8% due to the opening and refurbishment of stores Weaknesses Geographic diversity and exposure to high tax rates FJB Operates in 190 stores across the world. With many stores located in Malaysia and China, where the effective tax rate is close to 30%, FJB faces a high tax bill and thus lower overall profits. Highly cyclical earnings FJB’s earnings are highly cyclical and they tend to peak in the late stages of a cyclical upturn. This translates into a risk of over expansion during good times. FJB’s total revenue increased 38% YoY for FY 2007. Poor presence and performance in Australia, Europe and North America FBJ classifies it’s geographical segments into South East Asia, North Asia and Other, which includes their franchised brands in North America and Australia. This segment has historically made up less than 2% of total revenue. Opportunities Strong brand name of RAOUL FJB’s proprietary brand was one of the brands topping the high fashion category in a recent Mystery Shopping Survey. It has grown well over the last few years as FJB was able to raise RAOUL’s brand value and expand the business to Europe and the United States. New international brands to accelerate earnings potential The Group is working to bring in affordable international fashion brands. Recently, the Group signed an exclusive distribution agreement with the Padini Group for VNC shoes to venture into the growing Indonesian market. Threats Competition The majority of FJB’s competitors operate with large store numbers (Esprit – 1,128, Dickson Concepts – more than 1,000, WINGT – more than 180, Metro – 879,000 square feet). The rise of blogshops in the SE Asia have also increased competition within the industry. Macroeconomic instability Macroeconomic instability threatens growth. Grim economic sentiment worldwide poses an explicit threat to FJB’s growth as it caters to the premium fashion retailing market. Porter’s Five Forces Highly competitive climate Our team analyzed the macroeconomic conditions and the special characteristics of the fashion retail industry, we have determined that FJ Benjamin operates in a highly competitive market. The largest drivers of competition are the degree of rivalry, new entrants and the supplier power. Exposure to foreign currency shocks and the threats from competing businesses are substantial factors to look out for. Buyer Power (High) Buyer Power (High) Supplier Power (Strong) Supplier Power (Strong) Substitutes (Moderate) Substitutes (Moderate) New Entrants (High) New Entrants (High) Degree of Rivalry (Strong) Degree of Rivalry (Strong) Many competitors offering diverse choices Many competitors offering diverse choices Low customer loyalty in retail industry Low customer loyalty in retail industry Many firms competing for market share Many firms competing for market share Saturated Market Saturated Market Price inelasticity Price inelasticity High product differentiation High product differentiation High Capital Outlay High Capital Outlay Fall in brand perception will result in customer turnover Fall in brand perception will result in customer turnover Increasing wealth may lead to consumers using premium brands Increasing wealth may lead to consumers using premium brands Healthy relationships with suppliers to sustain franchises Healthy relationships with suppliers to sustain franchises Constantly changing fashion trends Constantly changing fashion trends Exposure to foreign currency shocks Exposure to foreign currency shocks High marketing expenditure needed to maintain brand perception High marketing expenditure needed to maintain brand perception Section II: Accounting Analysis Adjustments Accounting Analysis – Faithful representation The auditors’ report demonstrated that the accounts present a true and fair view of the company. It is noteworthy that it was highlighted in the corporate governance report that there are no employees who are relatives of directors paid above $150,000. In addition, all members of the nomination, remuneration and audit committee are independent non-executive directors. There is also a whistle-blowing policy for the Group, which encourages a high level of non-tolerance against fraud. There was also adequate disclosure of interested transactions between its subsidiaries and its newly acquired associate prior to the acquisition. However, a potential conflict of interest in the area of the risk management committee, which usually comprises majority of non-executive directors, but in the case of MPM, is managed by executive directors. There might be the possibility of them not being objective in assessing the risks that the company faces. Understandability There is thorough explanation of accounting policies adopted in the notes, supplemented with definitions of accounting terms where appropriate. While the assets and liabilities of associates are mentioned, no further breakdown is given as to the comprisal of them. Assets and liabilities of subsidiaries are also absent from the notes. This applies for jointly controlled entities too. It was hard to determine where personnel expenses and the disclosures under profit before income tax fall into the income statement, making it confusing how to account for them. The cash figure in the balance sheet and cash flow statement differed due to fixed deposits, bank overdraft and pledged fixed deposits and bank balances, making forecasting of financial statements relatively inconvenient. Comparability There is clear disclosure when amendments are made to FRS, accompanied with a statement whether the change is applied retrospectively or prospectively, as well as the materiality of the amounts presented. Where changes are to be expected, these are stated beforehand with their effective period of commencement stated methodically. Details of other operating expenses were provided in the notes from 2009 to 2011, but absent in the notes in 2007 and 2008, making comparison of detailed expenses difficult. Segment reporting was available to enable investors to compare across companies that might be similar to MPM in one of their business segments. Accounting Distortions Adjusted Non-recurring items The notes were inspected to identify line items that could potentially be non-recurring and should thus be removed from the financial statements to provide a clearer picture of the sustainable earnings of the company. Items recognized as non-recurring included bad debts written off, investment in associate, and other expenses in which no details were given. Other possible non-recurring items included government grant received, though this could possibly recur due to the achievement of the conditions under the Capability Development Scheme in 2010. Foreign exchange gain was also thought of to be recurring due to the entrance into forward currency contracts. Equity to proportionate consolidation MPM’s subsidiary Marco Polo Shipping Co Pte Ltd holds a 49% stake in PT Pelayaran Nasional Bina Buana Raya (BRR), an Indonesian shipping company which engages in ship agency, chartering and transshipment of vessels. The 49% stake is the maximum equity stake allowed to be taken by a foreigner without affecting the ability of BBR to ply the Indonesian waters as a domestic shipping company. By the substance over form principle, Marco Polo has effective control over BRR, thus we carried out proportionate consolidation on the entity. Joint ventures were also consolidated to provide a more accurate picture of the group. Operating leases MPM has several operating leases with lease period not amounting to more than 5 years. The leases were capitalized based on the implicit interest rate in the finance leases, except for 2008, where a figure of interest expenses over beginning long term debt was used, due to the absence of finance leases in 2007. Capitalizing the operating lease would result in a more accurate representation of liabilities and assets. Guarantees and litigations MPM was involved in two lawsuits over the period under purview. One involved $106,000 for late delivery of vessels while the other involved arbitration against a subsidiary of the Company in relation to certain charter party disputes. These were included in contingent liabilities during 2007 and 2008 respectively, though in the opinion of the directors, both lawsuits had no merit or basis and would not have financial impact on the company. How to cite Fj Benjamin, Essay examples Fj Benjamin Free Essays FJ Benjamin Holdings Ltd# (SGX: FJB) 18 July 2012 Receding tides at the fashion and timepieces retailer UNDERWEIGHTTarget Price: S$ 0. 09 Price (as at 18 July 2012) | Bloomberg| 12-month Range| Market Capitalization| S$ 0. 33| SGD 0. We will write a custom essay sample on Fj Benjamin or any similar topic only for you Order Now 3300| SGD 0. 26 – 0. 365| SGD 203 Million| 3 Points that convince us of a Sell rating: * Something 1 Explanation * Something 2 Explanation * Something 3 Explanation Year End: Jul| 3QFY11Results| 3QFY12Results| YoY % Growth| YTD % as of FY2012| Revenue (S$’000)| | | | | Retail| | | | | Distribution| | | | | Licensing| | | | | Gross Profit| | | | | Gross Margin| | | | | EBIT (S$’000)| | | | | EBIT Margin| | | | | Net Profit| | | | | Net Margin| | | | | EPS| | | | | DPS| | | | | NAV/Share| | | | | Headquartered in Singapore, SGX-listed F J Benjamin Holdings Ltd. (FJB) builds in-house and develops international lifestyle and luxury brands across Asia and recently in the Western markets too. With a portfolio of over 20 celebrated brands, the group divides itself into four core businesses: 1. Luxury and Lifestyle Fashion Retailing and Distribution; 2. Timepiece Distribution; 3. Design and Manufacturing of their in-house brand RAOUL . Investing in Lifestyle Concepts Section I: Industry Analysis SWOT Analysis Strengths Wide retail network FJB operates 191 stores across Singapore, Malaysia, Hong Kong and Indonesia in prime locations to cater to its premium customers and tourists and help maintain the competitiveness of the Group. Wide diversified luxury and lifestyle brand portfolio The brand portfolio comprises over 20 iconic luxury and lifestyle brands. A diversified portfolio of scalable brands helps the Group mitigate the vulnerability of luxury brands in an economic downturn. Multilingual retail staff improves customer service * FJB believes in investing heavily in retail staff training to increase service quality and language proficiency to serve tourists who visit the stores from various regions. Strong balance sheet and positive cash flow allow FJB to fund its CAPEX plans FJB maintained SGD7. 7m of net cash at the end of FY2012 despite incurring capital expenditure rising by 8% due to the opening and refurbishment of stores Weaknesses Geographic diversity and exposure to high tax rates FJB Operates in 190 stores across the world. With many stores located in Malaysia and China, where the effective tax rate is close to 30%, FJB faces a high tax bill and thus lower overall profits. Highly cyclical earnings FJB’s earnings are highly cyclical and they tend to peak in the late stages of a cyclical upturn. This translates into a risk of over expansion during good times. FJB’s total revenue increased 38% YoY for FY 2007. Poor presence and performance in Australia, Europe and North America FBJ classifies it’s geographical segments into South East Asia, North Asia and Other, which includes their franchised brands in North America and Australia. This segment has historically made up less than 2% of total revenue. Opportunities Strong brand name of RAOUL FJB’s proprietary brand was one of the brands topping the high fashion category in a recent Mystery Shopping Survey. It has grown well over the last few years as FJB was able to raise RAOUL’s brand value and expand the business to Europe and the United States. New international brands to accelerate earnings potential The Group is working to bring in affordable international fashion brands. Recently, the Group signed an exclusive distribution agreement with the Padini Group for VNC shoes to venture into the growing Indonesian market. Threats Competition The majority of FJB’s competitors operate with large store numbers (Esprit – 1,128, Dickson Concepts – more than 1,000, WINGT – more than 180, Metro – 879,000 square feet). The rise of blogshops in the SE Asia have also increased competition within the industry. Macroeconomic instability Macroeconomic instability threatens growth. Grim economic sentiment worldwide poses an explicit threat to FJB’s growth as it caters to the premium fashion retailing market. Porter’s Five Forces Highly competitive climate Our team analyzed the macroeconomic conditions and the special characteristics of the fashion retail industry, we have determined that FJ Benjamin operates in a highly competitive market. The largest drivers of competition are the degree of rivalry, new entrants and the supplier power. Exposure to foreign currency shocks and the threats from competing businesses are substantial factors to look out for. Buyer Power (High) Buyer Power (High) Supplier Power (Strong) Supplier Power (Strong) Substitutes (Moderate) Substitutes (Moderate) New Entrants (High) New Entrants (High) Degree of Rivalry (Strong) Degree of Rivalry (Strong) Many competitors offering diverse choices Many competitors offering diverse choices Low customer loyalty in retail industry Low customer loyalty in retail industry Many firms competing for market share Many firms competing for market share Saturated Market Saturated Market Price inelasticity Price inelasticity High product differentiation High product differentiation High Capital Outlay High Capital Outlay Fall in brand perception will result in customer turnover Fall in brand perception will result in customer turnover Increasing wealth may lead to consumers using premium brands Increasing wealth may lead to consumers using premium brands Healthy relationships with suppliers to sustain franchises Healthy relationships with suppliers to sustain franchises Constantly changing fashion trends Constantly changing fashion trends Exposure to foreign currency shocks Exposure to foreign currency shocks High marketing expenditure needed to maintain brand perception High marketing expenditure needed to maintain brand perception Section II: Accounting Analysis Adjustments Accounting Analysis – Faithful representation The auditors’ report demonstrated that the accounts present a true and fair view of the company. It is noteworthy that it was highlighted in the corporate governance report that there are no employees who are relatives of directors paid above $150,000. In addition, all members of the nomination, remuneration and audit committee are independent non-executive directors. There is also a whistle-blowing policy for the Group, which encourages a high level of non-tolerance against fraud. There was also adequate disclosure of interested transactions between its subsidiaries and its newly acquired associate prior to the acquisition. However, a potential conflict of interest in the area of the risk management committee, which usually comprises majority of non-executive directors, but in the case of MPM, is managed by executive directors. There might be the possibility of them not being objective in assessing the risks that the company faces. Understandability There is thorough explanation of accounting policies adopted in the notes, supplemented with definitions of accounting terms where appropriate. While the assets and liabilities of associates are mentioned, no further breakdown is given as to the comprisal of them. Assets and liabilities of subsidiaries are also absent from the notes. This applies for jointly controlled entities too. It was hard to determine where personnel expenses and the disclosures under profit before income tax fall into the income statement, making it confusing how to account for them. The cash figure in the balance sheet and cash flow statement differed due to fixed deposits, bank overdraft and pledged fixed deposits and bank balances, making forecasting of financial statements relatively inconvenient. Comparability There is clear disclosure when amendments are made to FRS, accompanied with a statement whether the change is applied retrospectively or prospectively, as well as the materiality of the amounts presented. Where changes are to be expected, these are stated beforehand with their effective period of commencement stated methodically. Details of other operating expenses were provided in the notes from 2009 to 2011, but absent in the notes in 2007 and 2008, making comparison of detailed expenses difficult. Segment reporting was available to enable investors to compare across companies that might be similar to MPM in one of their business segments. Accounting Distortions Adjusted Non-recurring items The notes were inspected to identify line items that could potentially be non-recurring and should thus be removed from the financial statements to provide a clearer picture of the sustainable earnings of the company. Items recognized as non-recurring included bad debts written off, investment in associate, and other expenses in which no details were given. Other possible non-recurring items included government grant received, though this could possibly recur due to the achievement of the conditions under the Capability Development Scheme in 2010. Foreign exchange gain was also thought of to be recurring due to the entrance into forward currency contracts. Equity to proportionate consolidation MPM’s subsidiary Marco Polo Shipping Co Pte Ltd holds a 49% stake in PT Pelayaran Nasional Bina Buana Raya (BRR), an Indonesian shipping company which engages in ship agency, chartering and transshipment of vessels. The 49% stake is the maximum equity stake allowed to be taken by a foreigner without affecting the ability of BBR to ply the Indonesian waters as a domestic shipping company. By the substance over form principle, Marco Polo has effective control over BRR, thus we carried out proportionate consolidation on the entity. Joint ventures were also consolidated to provide a more accurate picture of the group. Operating leases MPM has several operating leases with lease period not amounting to more than 5 years. The leases were capitalized based on the implicit interest rate in the finance leases, except for 2008, where a figure of interest expenses over beginning long term debt was used, due to the absence of finance leases in 2007. Capitalizing the operating lease would result in a more accurate representation of liabilities and assets. Guarantees and litigations MPM was involved in two lawsuits over the period under purview. One involved $106,000 for late delivery of vessels while the other involved arbitration against a subsidiary of the Company in relation to certain charter party disputes. These were included in contingent liabilities during 2007 and 2008 respectively, though in the opinion of the directors, both lawsuits had no merit or basis and would not have financial impact on the company. How to cite Fj Benjamin, Papers

Accounting Software Is Used By Companies â€Myassignmenthelp.Com

Questions: How Do Profit And Loss Statements, Cash Flow And Aging Summaries Contribute To New Budgets? How Does Analysis Of Previous Financial Data Impact On Projected Resource Estimates And Allocations? Answers: Introducation This is a methodology or accounting software that is used by companies to manage their assets, liabilities, income and expenses. Many companies are using financial management systems that help in streamlining their cash flows and improving the business performance (Bielefeld Schneider, 2014). Effective financial management systems like Sage, QuickBooks and Invent are being adopted by businesses so as to Elimination of errors in accounting and remove redundancy in record keeping. It provides the much needed flexibility in accounting and expandability in the same It ensures that there is compliance with regulations such as tax, deductions , rebates etc. of a company Financial management systems streamline collections and invoices. There are also two types of financial management system which are on-premises financial; system and the cloud financial system. However, there are various advantages of using the cloud system in financial management system. This includes It eliminates the costs involved in creation of accounting hardware costs and major headaches associated with IT. Some of the software updates will not disrupt the normal operation of the business The company staff or directors can get any information at any location at any time if the business is using software. There is integration to other applications like the sales force or revenue collection. For example, QuickBooks and Sage financial management system automates most important duties and processes of an accountant. They reduce a business overreliance on the spreadsheets. They also give clear and greater visibility into the real-time business activities and performances. The business should tailor their systems by configuring the screens, the workflows and the preferences all without scripting or coding (Bielefeld Schneider, 2014).They increase the ability of management to make faster decisions, increases the business productivity and drive the business to the next level. Productivity Due to improved Financial Management System if the business wants to optimize resources to the maximum, whether it's time management or team management, financial management systems have to be used. Personal productivity in the management of resources due to introduction of improved financial management system (Brigham Ehrhardt, 2017). In this article will know exactly what the productivity and benefits that one can report to your business, as well as the different ways in which we can exploit it. However, the efficient and quality implementation of all the tasks and tasks required to complete objectives and targets is not exclusively a matter of time and depends on many other factors that are directly related to productivity brought in by adoption of financial management system (Brigham Houston, n.d.). Throughout this article we will mainly talk about labor productivity, that is to say, that refers to the increase or decrease in performance depending on the variations of labor, capital, the technique that we apply to perf orm tasks or produce goods or other factors (AAT qualifications and credit framework (QCF) AQ2013, n.d.). However, it is necessary to make some points about productivity and other associated terms. The effectiveness is based on achieving the goals established in the company or individually.Efficiency is the achievement of goals with the least amount of resources (Brigham Houston, n.d.). In order to achieve good business productivity it is vital to start with a good business management, that is to say, the techniques that apply to the whole of a company with the aim of improving financial management, sustainability, competitiveness and to ensure the viability of the company medium and long term. Increased productivity also has many benefits for companies, regardless of size or sector of activity: It supposes a great saving of costs, since it allows us to get rid of those elements unnecessary for the accomplishment of our objectives It assumes a great saving of time, which gives us the possibility to perform a greater number of tasks in a shorter time and, generally, with less effort (COVENEY, 2016). This, in the long run, allows us to reserve that "extra time" for tasks that allow us to grow our business. It provides our business with greater agility and, therefore, flexibility in responding to changes in the demands of our customers or the market in general. Time Management and Productivity Time is one of the key factors when it comes to talk about financial management systems. Time is, in fact, one of the most relevant factors when it comes to efficiency and, hence, productivity, since it is one of the most valuable inputs or resources available to us. Of execution of task s supposes, as already mentioned, a significant cost savings, greater maneuverability and flexibility, and greater production capacity. Information Management System Organizations must have processes and procedures in place to ensure that information is protected and to demonstrate accountability to regulatory agencies and the public. Designed for the purpose of protecting assets, 2005 specifies requirements for management systems information security (Information Security Management Systems - ISMS). The requirements include the establishment, implementation, operation, monitoring, review, maintenance and improvement of systems documented ISMS within the context of global commercial risks of the organization (AAT qualifications and credit framework (QCF) AQ2013, n.d.). The standard, which stipulates specific requirements to include computer security under the control of the organization's management, can be applied to any business, organization or industry. What for many is known as Internal Management Control systems and for others simply Internal Control systems is an expression used to specify and detail all those measures that are taken by d irectors and shareholders of a company to control and direct effectively all the operations that your company plays (Penning, 2012). Generally, for a particular company it refers to what would be its internal control system. The techniques used to control all those resources and operations can vary from one to another company depending on the nature, complexity, magnitude, as well as the geographic dispersion of all the operations carried out by the company or entity. It is important to say that all these steps require some kind of concrete action, and the effectiveness of these steps will depend on all the employees who are directly responsible for carrying out a task and explain the reasons for the results obtained (Parker, 2007). The effectiveness of the management system process of the company at all levels of supervision will be the result of the efforts of the employees of the company. Importance of management accounting in the company In the present work we intend to address some fundamental concepts, which serve as the basis for the design of Management Control Systems, as well as different approaches used by recognized authors in the subject treated (Parker, 2007). How the three types of costs related to the financial are included in the budget: capital, risk mitigation and strategy execution financials. How improvements to the managerial accounting system not only provide accuracy and visibility to costs, but also allow prediction of expenditure requirements of the necessary resource capacity in the future.The standard, which stipulates specific requirements to include computer security under the control of the organization's management, can be applied to any business, organization or industry (Palepu, Healy Peek, 2016). Budgeting We understand by budget the set of expenses and inputs that a person, entity or government can foresee for a certain period in terms of their finances, the uses and objectives that will be given to each item or expenditure as well as the uses and Long-term forecasts of available funds (O'Herron, 2000). The idea of budget always supposes a forecast of the personal or state finances since to make a budget requires a certain anticipation not only of the expenses that must be realized in the determined time but also of the gains or inflows of capital that can mean period. In some cases, the budget is an element that can be set individually (for example, when a person analyzes their personal budget). In other cases, the budget implies an agreement between the parties if they are more than one (for example, when two or more people decide what to spend or if a government can use the available resources in such a way) (Nugus, 2009). As its name implies, the budget is precisely to presume in the matter of finance and economy what will be the activities or movements to be carried out in a future period that is calculated in an approximate way (Nice, 2002). Normally, when we talk about government or state budget, we are talking about budgets that are elaborated taking into account an endless number of variables related to the different economic activities of the region, the projects of works or of new measures of government, with the possible payment of debts or international fees, extra expenses and even the forecast of possible alterations to the original budget based on the results obtained with each of the projections indicated (Nice, 2002). Objectives of making a budgetroject.General characteristics: Budgets have the ability to predict future financial statements, based on estimates. According to the data bases, the budget may imply a high degree of uncertainty.The proposal is not accurate information that corresponds faithfully to reality, but should be used as an instrument that contributes to decision making (Lawrence Klimberg, 2011). The budget allows controlling the evolution of the company, contrasting the forecast with reality, to be able to analyze the deviations. Budgets allow access to the best option or at least the one that represents the greatest possibility of profitability for the company or investors (Lawrence Klimberg, 2011).The budget gives the possibility of projecting the expenses that are expected to incur in a certain period of time, as well as the income that will be generated during the course of the project. The budget is very important in that it represents the financial image of the project. The budget largely contributes to the understanding of the project by investors and provides security.Costs as a fundamental factor in the budget in financial management systehe budget should focus on detailing the cost presentation and analysis (Fraser Ormiston, 2016). For example, in cases where a budget includes a training activity, it should be explained in detail all the expenditures to be taken on the basis of the training, i.e. not only the value but also the cost of the value of time Invested by the people who are to be sent and who must assume the project because it is an operationally non-productive time, in addition to specifying if it requires materials or some value that should be considered for estimating the cost of training (Kemp, n.d.).The presentation of costs in a specific way allows investors and all users of the information contained in the budgets have a clear and comprehensive knowledge that provides reliability, as well as the possibility of looking for alternatives that minimize costs, since in case of Costs are shown as a general amount, denoted as a random calculation.One of the important elements of budgets is the ability to present project information in terms of cost-benefit, from which fundamental variables, including funding, should be assessed (Fraser Ormiston, 2016). The budget allows investors to assess the possibilities of financing and estab lish in terms of cost-benefit, the most profitable plan for the project.The budget is important for: Making financial information accessible to all users. For example, unions can access information from the organization, ie union members and all staff in general has the ability to access the budget and know the investment expectations of the organization.Ensure that the planning of activities is feasible and consistent with available resources.Identify the deficit in which greater movement of financial resources is required (Fraser Ormiston, 2016).Transparently establish the relationship between costs / receipts / invoices with the activities budget, in order to certify the reliability of the work and avoid that the resources are allocated to non-budgeted activities. Provide staff with cost tracking and budget balance. Grant the report to the funders, because the costs are related to the budget and toincrease the cost-benefit rat. A budget is an itemized summary of the expenses and incomes that are likely to occur in a given period. Typically, budgets are created using a spreadsheet, that provides an organized, concrete and easily understood breakdown of how much money a company will be receiving and how much it will be using. A budget is an invaluable tool that enables a company to prioritize spending and managing its money. A budget is necessary for a business because it enables the management to effectively manage money. It also enables a company to allocate appropriate resources to projects (Financial management, 2014). A budget is a tool that is also used to monitor performance of the projects that the company is undertaking in a specific financial year. A budget is also necessary as an tool that the management uses to make and improve decision making. It also enables one to identify problems before they occur, for example, the need to raise cash flow or finance difficulties. They enable a business to pla n for the future and also increase staff motivation (Feldstein, 2006). A budget is an integral part when running a business, they are used in the following way to run a business effectively and efficiently. A budget is used as an action plan for managers and also as a comparison point at the end of the period. In a business, a budget is used to determine how much to spend on the various expenditures of the business. The ability to measure performance of the business is a matter of life and death hence the way a budget is used can really determine if a business will do well or not. Estimates and allocations of resources are heavily impacted by the analysis of previous years financial data. For example, if the company performed poorly in the last financial year, then the allocations available and projected resource estimates will be reduced because of the fall in profits of the previous year. On the other hand, if the data of the previous financial years shows an improvement in profits then the resource estimates and allocations will be higher because there was more cash. For example, consider historical data from profit and loss account perspective in the last three years, the cost of sales is used to determine whether the gross margin is stable, if it is increasing or decreasing (Feldstein, 2006). When you tie your profit and loss account projection into a balance sheet forecast, then check the working capital and cash balance. These balances are then allocated into the budget (for example, general and administrative expenses) in a percentage form. One can use a profit and loss template for creating a projection or an estimate of how a business may perform from one year to another. The template is based on our budget and uses the same income and business expense categories. A profit and loss statement summarises the amounts of expenses incurred and the revenues earned by a business entity over a period of time (Dayanada, 2002). The main components of a profit and loss statement is the revenue, cost of goods sold, gross profit, expenses and net profit. The difference between a profit and loss projection and a business budget is subtle but important. After the profit and loss projection then one can change the title of the spreadsheet to budget. Cashflow The cash flow shows the outgoings and incomings of cash for an entity during a specified period of time. It is important to understand that the cash of a business is different from its profits. A business may be operating in profit but have a negative cash flow and therefore is not able to pay its debts. The cash flow is divided into three segments namely, investing activities, financing activities and operating activities (Dayanada, 2002). A budget can be made from cash flow forecasts which reflects the actual time that an expenditure and income are likely to occur such as details when money will enter a bank account and when it will leave. Non cash items such as depreciation and amortization are included in a cash flow and hence important in the making of budgets. Ageing summaries Accounts receivables are important this is because the help us know when a business will receive money or payment from the creditors. The analysis of ageing summary is important in budgeting because the budget is prepared by putting into mind when and how much a certain amount of money will be received from the various creditors (Donovan, 2006). Managing finances of any business is a complex operation. The application of financial statement knowledge in reporting and budgeting has a significant bearing on the success of the business (Donovan, 2006). For the survival of a business, good financial management is essential and an important part of good governance. This involves being in a position to review financial information , implement sound financial practices and understanding the companys financial obligations and position. Often businesses depending on how big they are appoint an expert in finance with some accounting experience to guide the company in regards to making financial decisions (Feldstein, 2006). Therefore, it is important that supervisors and managers in the organization understand budgets and their reporting requirements. The five basic skills that managers and supervisors of the organization should have are 1) cash versus accrual accounting 2) should be familiar with basic financial statements in terms of how they are prepared and also reporting 3) budget preparation i.e managers should know how to prepare departmental budgets 4) variance analysis and 5) financial analysis of capital investments and strategic initiatives. One way of ensuring that managers and supervisors in the organization understand the budget and reporting requirements is by involving them in the planning and management of finances. They should know the expenses accrued and revenues received in each department so as to be able to report and understand budgeting. Budgets are used to identify and track discrepancies between agreed and actual allocations. Explain. A budget is a plan or forecast in form of a list. These list shows incoming revenue and spending revenue items for a specific period of time (Feldstein, 2006). Thus, the purpose of spending is to show a budget figure for each item. And as time passes actual revenues and spending figures enter the list and are compare with original budget figures. The difference between the baseline or budgeted amount of expenses and the actual amount is known as the variance. Budget variance is favorable when the actual amount budgeted is greater that the budgeted amount. Or when the actual expense amount is less than the amount in the budget. In some rare cases, the difference between budgeted and actual assets and liabilities is known as budget variance. A budget variance is caused by improper budgeting or bad assumptions( for example a company using politics within to derive an unusually easy budget target) which means that the baseline against which the actual results are measured is not reasonab le. The organization can track this amounts by using either monthly or quarterly figures or actual expenses or revenues that are calculated using the receipts received during that particular period of time . These amounts are then compared with the amounts in the budget to identify if the variance is positive or negative. In real business world, small differences between budgeted figures and actual figures are expected and normal. However, a large variance might raise some eyebrows from the relevant officer tracking the difference . How do budgets contribute to analysis of existing financial management approaches? There are three main approaches to financial management, these are: First, the traditional view. Second, the modern view and third is the liquidity and profitability. Budgets contribute to the modern view approach of financial management. Financial management in the world has substantially changed in the world and budgets are increasingly being used in the analysis of financial statements(Brigham Ehrhardt, 2017).. In the modern view approach of financial management the budgets come in handy and are used by the management to analyze and compare with all other financial statements. Financial management and budgeting are at the core of economic and public sector reform programs in most countries around the world(Brigham Ehrhardt, 2017).. The growing pressure for an enhanced service delivery and the challenges brought about by fiscal shocks and budgetary crisis in the public sector has budgets have contributed to enhanced analysis of financial management approaches. References AAT qualifications and credit framework (QCF) AQ2013. Bielefeld, B., Schneider, R. (2014).Budgeting. Basel: Birkha?user. Brigham, E., Ehrhardt, M. (2017).Financial management. Boston (MA): Cengage Learning. 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