Global Financing and Rate

Global Financing and Exchange Rate Mechanisms Veronica L. Powell University of Phoenix MGT/448 Donald Joseph March 31, 2009 Global Financing and Exchange Rate Mechanisms Currency is unreliable. In some countries the United States dollar is worth more than that countries currency, while in other countries the U. S. dollar is worth less. The exchange rate fluctuates on a continuous base which makes the term â€Å"funny money† more realistic each day. The purpose of this paper is to discuss hard and soft currency, the South African rand, Cuban pesos, and why the exchange rates fluctuate.Hard currency is a currency, usually from a highly industrialized country, that is largely accepted globally as a form of payment for goods and services (Investopedia, 2010). Hard currency is presumed to remain fairly stable through a short period of time, and to be considerably liquid in foreign exchange markets. Soft currency is another name for â€Å"weak currency. † The values of soft c urrencies fluctuate often, and other countries do not want to hold these currencies due to political or economic uncertainty within the country with the soft currency (Investopedia, 2010).Hard currency comes from a country that is politically and economically stable. The United States dollar and the British pound are examples of hard currencies. Soft currencies tend to be prevalent in developing countries. Often, governments from developing countries set unreasonably high exchange rates, pegging the currency of that country to a currency such as the United States dollar. South Africa had a fixed exchange rate for its currency until the latter part of the 1960s; afterward, the South African rand was pegged against major foreign currency.The value of the rand followed changes in the balance of payments and moved roughly with sterling and other weaker currencies until 1985 (Country Data, 1996). The foreign debt crisis of 1985 prompted the rand to depreciate at a bewildering rate, thus it fell to a value that was less than US$0. 40. In 1987 the rand began to recover reaching US$0. 43; however the rand continued to decrease steadily, with minor differences, until declining to US$0. 26 in the latter part of 1995. The rand is a parallel currency that was exclusively used for nonresident capital movements during the 1980s and 1990s.The financial rand was available to foreigners for investment only in South Africa was formulated by the sale of nonresidents’ assets in the country (Country Data, 1996). The two-tiered currency system insulated the country’s foreign reserves from politically stimulated capital flight, because all divestment by nonresidents were automatically met by new investment, and the price of the financial rand varied independently of the commercial rand (Country Data, 1996). Ultimately, South Africa’s economic growth depends upon increasing gold profits and foreign investments.The Cuban Pesos (CUP) is the official currency in Cub a. The American dollar is not accepted on government business in Cuba since November 2004. All of the stores that sold goods in American currency changed to the Cuban Convertible Pesos (CUC). Pesos convertibles cost the equivalent of $1. 18 United States Dollars (USD). In Cuba, currency is exchanged every day, and it is a known fact that the pesos are unstable. The Cuban Pesos is equivalent to 100 cents (centavos). The notes can be of the following denominations: 1, 3, 5, 10, 20, 50, and 100 pesos; coins can be of 1, 5, and 20 centavos (Cuba Currency, 2005).The exchange to the Pesos convertible into United States Dollars are fixed, one to one equivalent of the $1 USD that was established by the Central Bank of Cuba. National currencies are important to the way modern day economies function. The national currencies allow businesses to logically express the value of a good, service, or product globally. Exchange rates are needed because one countries currency is not always accepted in another country. An exchange rate is simply the cost of one form of currency in another form of currency (Grabianowski, 2004).For example, if 1 South African rand is exchanged for 80 Japanese yen, the consumer purchased a different form of currency to use in while in Japan. Many centuries ago, currencies of the world were covered by gold. A piece of paper currency was issued by any world government agency that represented a real amount of gold being held in a vault by that government agency (Grabianowski, 2004). In the 1930s, the U. S. set the value of the dollar at a single, unchanging level: 1 ounce of gold was worth $35 (Grabianowski, 2004). Other countries based the value of their currencies on the U.S. dollar after World War II. Since everyone knew how much gold a U. S. dollar was worth, then the value of any other currency against the dollar could be based on its value in gold (Grabianowski, 2004). Currency worth twice as much gold as the U. S dollar was, subsequently, also w orth two U. S. dollars (Grabianowski, 2004). The two main systems used to determine a currency’s exchange rate are: floating currency and pegged currency. The market determines a floating exchange rate. For instance, a currency is worth whatever buyers are willing to pay for it.This is determined by supply and demand, which is in turn driven by foreign investment, import/export ratios, inflation, and a host of other economic factors (Grabianowski, 2004). Primarily, countries with stable and mature economic markets use a floating system. Floating exchange rates are considered efficient because the market will automatically correct the rate to reflect inflation and other economic forces (Grabianowski, 2004). The floating system is not perfect, if a country’ economy suffers from instability; a floating system will discourage investment (Grabianowski, 2004).To sum up, this paper discussed hard and soft currency, the South African rand, Cuban pesos, and why the exchange rat es fluctuate. Hard and soft currencies are both affected by the exchange rate which fluctuates on a daily basis. Though the notion of the USD not being accepted in Cuba seems unreasonable, it is the choice of Fidel Castro and is honored by American citizens. As countries continue to develop more currencies will become available and will also have the affects of the fluctuating exchange rate. References Country Data. (1996, May).South africa currency. Retrieved from http://www. country-data. com/cgi-bin/query/r-12162. html Cuba Currency. (2005). Cuban pesos. Retrieved from http://www. cubacurrency. com Grabianowski, E. (2004, February 06). How Exchange rates work. Retrieved from http://money. howstuffworks. com/exchange-rate. htm Investopedia. (2010). What does Soft currency mean? Retrieved from http://www. investopedia. com/terms/s/softcurrency. asp Investopedia. (2010). What does Hard currency mean?. Retrieved from http://www. investopedia. com/terms/h/hardcurrency. asp

Make Recommendations for Improving Your Health Education Campaign Essay

The health education topic which I choose is sun awareness. I choose this campaign because more people are going on holidays and using sun beds and not being aware of the dangers and what it can cause. The 2009-10 National Skin Cancer Awareness Campaign is targeting to as low as 14-40 years as research has shown that these ages are still getting sun burnt each weekend in summer, and cumulative exposure to ultra violet radiation over your lifetime and episodes of sunburn increase the risk of skin cancer. This is because people can now afford to go on holidays more often and are not using sun cream and covering up. Also people at the age of 18 are now using sun beds more often because appearance means a lot to people at that age. They are becoming more self conscious about themselves and are using sun beds to get a quick, cheap and easy tan. My s. m. a. r. t objectives for skin cancer is SunSmart Policy to: Increase the knowledge and awareness of skin cancer. Assist to develop strategies that encourage responsible decision making about skin protection, including not sun baking. Work towards a safe school environment that provides shade for students and staff. Encourage students, parents, teachers, and staff to wear protective clothing, sunglasses, hats and sunscreen during high risk times such as lunch times, sports, excursions and camps. Ensure that parents are informed of the school’s SunSmart policy. Sun protection and skin cancer awareness programs are incorporated into the Health and Physical Education areas of the school curriculum. Wear the correct protection Clothing when out in the sun. The school is working towards increasing and/or maintaining shade in its grounds, particularly in areas where students congregate eg. Lunch, canteen, decking areas. Also to start showing the dangers of the sun and sun beds and try not to advertise sun beds. To try and make people follow these objectives I could make people aware of the dangers by showing them horrific pictures of skin cancer and the affects of sun burn. By showing them these images it would stick in there head and they would try and stop in taking a stupid amount of UV. By making videos of people with skin cancer could make them aware of how dangerous the sun is and using sun beds are. Also how the skin is affected by the sun by making you age. I think for my choice of approach I would make a presentation to a group of people making them aware of the causes of skin cancer. by doing this each person which intakes the awareness would hopefully tell there friends and the friends would tell other people which would make it a on going process to eventually people would realize the dangers. Hopefully this will help them adapt to sun smart and how important it is to just listen. The media which im going to choose posters, leaflets and games. This is a effective way to promote my campaign. There fun always full with bright colors and easy to understand. I think this is a good idea for my age range audience as its to 14-40. I think they will understand my media well and hopefully it will get to them. I will show pictures on my posters which are eye catching. These could be what a skin cancer mole looks like. Hopefully the audience will be educated by this and know what there looking for. I will also show badly burned people, this will scare the audience and make them use more sun cream and cover up. My game will be easy to use and fun. It will give someone good knowledge of skin cancer and the sun smart campaign and what’s it all about.

Leadership and Management in Health Visiting Essay

Leadership and Management in Health Visiting - Essay Example "Leader is a person who leads, commands, or precedes a group, organization or a country". "Manager is a person who manages an organization or a group of staff. A person who controls the professional activities of a performer or a player is also called a Manager or a person in charge of activities, tactics, and training of a team." Oxford Dictionary Leadership is a process by which a person influences others to accomplish an objective and directs the organization in such a way that makes it more cohesive and coherent. They carry out this process by applying their leadership attributes such as beliefs, values, ethics, character, knowledge, and skills. Although the position of manager gives one authority to carry out certain tasks, and objectives in the organization, this power does not make one leader, but it simply makes you 'Boss'. Leadership differs in that it makes followers wish to achieve high goals, rather than simply bossing people around. Basis of good leadership is honorable character, selfless service to your organization. In your employee's eyes, your leadership is everything you do that effects organization's objectives and wellbeing. Respected Leaders concentrate on what they are (such as beliefs and characters) what they know (such as job, tasks and human nature) and what they do (such as implementing, motivating, and providing direction). Health Visitors are community health professionals (midwives, comm... Health Visiting is thus at the heart of services for children. Their work is highly valued across the system, and with their public health nursing and family support skills, they are an integral part of children's services. Principles of health visiting are the search for health needs; create an awareness of health needs, influence on the policies affecting health, and facilitation of health enhancing activities. Universality of health visiting service is vital for the early identification of problems. In partnership with health visitors families will continue to receive a health needs assessment. For families with no identified needs, a minimum program is proposed. This will allow Health.Visitor. to target their service to most vulnerable families. Health visiting team can be made fit to respond to the changing needs of health and service care agenda, by building skill mix team with greater responsibilities and accountability. . Sure Start is the cornerstone of government's drive to tackle child poverty and social exclusion. Sure Start works to provide childcare, early education, health and family support services for children below 5 years. These integrated services are delivered through children's centres,which are concentrated in most disadvantaged areas till date.By this year (2006) they are planning to come to the mainstream since local audit has shown that 30% of the country's (U.K.)vulnerable children are living outside this area. This guidance is given in 3 parts to Local authorities, Primary care trusts, Children's Centre Managers and Practitioners. - Section 02 deals with planning and running a centre, Section 03-10 focus on the delivery of services, Section 11-14 focus on the working with different groups. In brief practice guidance states

Finance (Corporate) Essay Example | Topics and Well Written Essays - 1500 words

Finance (Corporate) - Essay Example This meant to give each proposal a chance to convince the capital budgeting committee for approval. The initial project concerned expanding an existing Match My Doll Clothing line, which had a demonstrated record of accomplishment in the earlier period. The subsequent project initiated a fresh initiative referred to as New Doll Film/DVD, which applied an online software permitting users to tailor a doll’s characteristic to the customers’ specifications. This required calculation of the Net Present Value (NPV) of both ventures to discover which project is more lucrative. Simulation Process Finance Simulation process involve accessing simulation platform. Click prepare tab to access simulation summary, which gives New Heritage Doll Company assignment summary and how to play tab for procedure. Simulation process involves comparison of the following parameters between chosen projects. Theses include NPV, payback period, IRR, profitability index and project milestones and ri sks.    Compare revenue by division, operation profit by division and total assets by division. Compare I/S and B/S in regards to Company consolidated, production consolidated, retail consolidated and licensing consolidated. Further, compare cashflow statement, financial analysis, project details and financial history. Balance sheet Finally decided on the projects to propose as Match My Doll Clothing and New Doll Film/DVD According to projects details they compare as follows. Project comparison The following discussion leads to project chosen for each year and reasons. The market is always divided into two major segments: video games and traditional toys and games. The second segment was additionally divided into child/preschool toys, sports toys and dolls outdoor, and other toys and games involve arts and crafts, action figures, plush toys, vehicles, and youth electronics gargets. The America market for games and toys was dominated by large international enterprises that benefit from economies of balance in production, design, and distribution. Revenues were exceedingly seasonal; the largest selling period in the United States during winter holiday period (Project Analysis Services, 2011, Pg 1-2). The observable fact of age compression; the propensity of younger kids to obtain dolls that had conventionally been intended for older ones, reduced growth in the baby doll segment hence hindering profitability. Competition is always a risk factor and a constraint in any business. New Heritage Doll Company is not exempted; other doll producers are vigorous and they targeted similar demographics and marketing media is similar. Lasting branded name for a doll is rare to come up with. Financial committee also reluctant to finance projects due to licensing proposals and conflict of interest, which posses a risk in regard to profiting (Studymode, 2009, Pg 1-2). Net Present Value is considered through measuring of the following parameters. Operating projections applied to build up cash flow forecasts and then to work out    Net Present Value, payback period, Internal Rates of Return and other investment metrics. The cash flows debarred all financing charges and non-cash objects such as depreciation, and were computed on an after-corporate-tax base. The New Heritage’s company tax rate stated as 40%. Discount rate stated to have been set at 8.4% - for mild-risk scheme. NPV calculations incorporated a terminal

The Message of the Torah Essay Example | Topics and Well Written Essays - 750 words

The Message of the Torah - Essay Example Therefore, it is kept and dressed in Synagogue. The significance of Torah can be substantiated by the message conveyed in it, which is about blessing i.e. God will always bless human beings1; which contains an abysmal severity of magnitude and importance for the mankind, particularly the followers. The literal meaning of the term Torah is to teach. The book teaches Jewish people how to pray, eat, and live2. The message of the Torah is that God provides all that mankind needs and give commands to choose the way of life. â€Å"The Torah conveys the message that God has blessed the humanity by providing them the required guidance in the form of this scripture† â€Å"male and female created He them, and blessed them, and called their name Adam, in the day when they were created â€Å"3 The Torah delivers the message that God has blessed us by keeping us alive and sustained in this earthly environment. The message it conveys is about self-satisfaction. Everything that human beings need in order to be happy has been provided by God. No matter how many difficulties we face in our lives, the recitation of Torah will fill ourselves with happiness and satisfaction. This shows that Torah is the source of solace and a means to achieve contentment in this highly materialistic world of today. In the present times, when materialism has heightened to extreme extents, individuals have forgotten to find happiness in nature and to be thankful with what one has. Torah acts as a reminder which aids to achieve contentment and inner peace. â€Å"and He said: If thou wilt diligently hearken to the voice of the LORD thy God, and wilt do that which is right in His eyes, and wilt give ear to His commandments, and keep all His statutes, I will put none of the diseases upon thee, which I have put upon the Egyptians; for I am the LORD that healeth thee†4 The central message is predominantly preoccupied with human actions. It further teaches individuals to follow the commands of God

Consequences of Migration in the UK Labor Market Term Paper

Consequences of Migration in the UK Labor Market - Term Paper Example It has been determined that people have the tendency of shifting in other places, where growth or economic development can be seen. Due to a lack of work opportunity or unemployment people have over the years preferred to move in developed cities or places for working opportunity. In this regard, it has been also observed that in developed countries such as the United Kingdom (UK) and the United State of America (USA) the effect of migration can be viewed highly in labor market. It can be evidently asserted that in the modern era, it will be very difficult to identify such examples, where people rather preferred to be born, live and die under the same roof significantly.In this concerned discussion, the main aim is to highlight how migration has led to changes in the labor market of the United Kingdom. In addition, the study with a focus on reviewing pertinent literature will also emphasize how migration can affect human resource management (HRM) in an international setting.         In accordance with Bauer & Zimmermann (1999), unemployed workers’ from central and Eastern Europe (within the EU) have moved towards the UK for job opportunities. According to a report, it has been observed that the wages of the UK labor market have been higher than that of central Europe and EU labor market indeed (Bauer & Zimmermann, 1999). Over the years, it has been observed that the pressure of migration has increased significantly. At the same time, it has been also determined that the migration has not only happened in central Europe and EU but also it has been seen in different territories such as America, Africa, and Asian countries. The impact of high-level immigrants has been also seen in the political environment and economy of the United Kingdom. Due to the high amount of immigrants the UK market has been affected in a number of ways. Consequently, the labor market has become more congested and as an effect, the wages of labors have been reduced specifically. Sim ultaneously, the availability of migrant labors has led towards unemployment issues in the United Kingdom.

Ectopic pregnancy Essay Example | Topics and Well Written Essays - 1000 words

Ectopic pregnancy - Essay Example Ectopic pregnancy is an important gynecological disorder which has many underlying causes and it is a condition that can be diagnosed by different techniques. This pathology can be treated and therefore early diagnosis is important to prevent the fatalities that result due to this condition. Etiology: Ectopic pregnancy is led to by many causes. Invasion of the pelvis by infective microorganisms which include Chlamydia results in infection of the pelvis and this Pelvic Inflammatory Disease is classified as an underlying cause of ectopic pregnancy in approximately 40 percent of the cases. A pregnant woman who has a history of ectopic pregnancies has a higher risk of developing the same disorder again. Appendicitis, leiomyomas as well as endometriosis may result in the sticking together of the fallopian tubes. This also increases the susceptibility of ectopic pregnancy. Intrauterine devices that are used for contraception also result in a raised chance of developing ectopic pregnancies. An important characteristic that has been identified is that ectopic pregnancy may develop in a female who does not present with any prior history of risk factors and has normal tubal structures (Robbins et al 2005; Monga et al 2005). It has also been seen that women who resort to in vitro fertilization techniques for conceiving also have an increased risk of developing ectopic pregnancies. The improper development of the fallopian tubes by birth is also associated with ectopic pregnancy as it obstructs the movement of the fertilized ovum towards the uterine lining (Sher et al 2005). Site of Ectopic Pregnancy: The normal site for the attachment of the embryo is the endometrium of the uterus. An ectopic pregnancy ensues due to deviation of the embryo from its normal place of attachment and the attachment occurs in abnormal locations. These locations include the fallopian tubes where 95 percent of the ectopic pregnancies occur. Seventy four percent of the tubal pregnancies are found in the ampulla. Three percent of the ectopic pregnancies may occur in the ovary whereas one percent may be present in the cavity of the peritoneum. The remaining one percent may be seen in the cervix or on the scar tissue that may have formed following a caesarean section (Monga et al 2011; Smeltzer et al 2009). Signs and Symptoms: The patient may present with alteration in the normal menstrual cycle and complain of the postponement of the period from the normal date by approximately 2 weeks. She may complain of the passage of a small amount of blood after the time period of these two weeks. These symptoms explain of the presence of ectopic pregnancy. The patient may experience pain in the abdomen relative to the sight of implantation. The pain may be mild initially but may progress to become severe with time. This may be accompanied by abnormal bleeding which varies from the normal menstrual cycle. The patient may be lethargic and complain of fainting episodes. The patient may also complain of blood discharge from the vagina which would be dark red in color suggestive of the fact that the blood is not fresh. The patient may present with pain in the iliac fossa. In patients who may have presence of

U.S. Childhood Obesity and Climate Change Article

U.S. Childhood Obesity and Climate Change - Article Example It exemplifies with evidence specific environmental impacts on obesity. In responding to this environmental negativity, the article points out climate change preparedness and prevention efforts. These efforts are grouped into two broad categories, which include increased human-powered transportation and increasing physical activity. However, any climate change intervention adopted must be explored for its potential to decrease the probability of injury risk factors. However, as the article suggests, lack of climate change intervention in various locations leads to unintended effects that could otherwise have a positive health implication on childhood obesity (Sheffield & Galvez, 2009). The article uses the piecemeal approach in exemplifying the justification of certain climate change interventions. It bases its explanations from a theoretical literature. It is obvious that the reason of why most cities and state in the United States do not have climate change intervention is the fact that the cost of installation cannot be justified by its benefits (Boarnet & Takahashi, 2010). On the contrary, the article suggests that the decision of whether to justify the construction or installation of this intervention should depend on multidisciplinary assessment. According to this article, the uniqueness and disparities in health effect of each state or regions can be demonstrated by children’s development stage, size and/or long life expectancy. As a result, the appropriate application of climate change intervention leads to a healthier diet, increased physical activities and improved air quality. The article singles out climate change intervention as the major factors that address the rationale for the continued existence of childhood obesity in the United States. According to this article, lack of this facility put in place automatically result in paediatric morbidity. However, such arguments are somehow very vague and

Keystone Species Essay Example | Topics and Well Written Essays - 1750 words

Keystone Species - Essay Example The populations of big-cat prey including the red coati (Nasua nasua), the agouti (Dasyprocta variegata), and the paca (Agouti paca) are about ten times higher than on Cocha Cashu, Peru, where big cats still live. However, this increase may result from natural population variability rather than the lack of jaguars and pumas. The extreme removal of herbivores and frugivorous mammals would drastically affect forest regeneration, altering tree species composition, but the effects of modest changes in densities are less clear. The sea otter (Enhydra lutris) is a keystone predator par excellence (Duggins 1980). A population of around 200,000 once thrived on the kelp beds lying close to shore from northern Japan, through Alaska, to southern California and Mexico. In 1741, Vitus Bering, the Danish explorer, reported seeing great numbers of sea otters on his voyage among the islands of the Bering Sea and the North Pacific Ocean. Some furs were taken back to Russia and soon this new commodity was highly prized for coats. Hunting began. In 1857, Russia sold Alaska to the United States for $7,200,000. This cost was recouped in forty years by selling sea otter pelts. In 1885 alone, 118,000 sea otter pelts were sold. By 1910, the sea otter was close to extinction, with a world-wide population of fewer than 2,000. It was hardly ever seen along the Californian coast from 1911 until 1938. The inshore marine ecosystem changed where the sea otter disappeared. Sea urchins, which were eaten by the otters, underwent a population explosion. They consumed large portions of the kelp and other seaweeds. While the otters were present, the kelp formed a luxuriant underwater forest, reaching from the sea bed, where it was anchored, to the sea surface. With no otters to keep sea-urchins in check, the kelp vanished. Stretches of the shallow ocean floor were turned into sea-urchin barrens, which were a sort of submarine desert. Happily, a few pairs of sea otters had managed to survive in the outer Aleutian Islands and at a few localities along the southern Californian coast. Some of these were taken to intermediate sites in the United States and Canada where they were protected by strict measures. With a little help, the sea otters staged a comeback and the sea urchins declined. The lush kelp forest grew back and many lesser algae moved in, along with crustaceans, squids, fishes, and other organisms. Grey whales migrated closer to shore to park their young in breaks along the kelp edge while feeding on the dense concentrations of animal plankton. Keystone predators sometimes are more effective within certain parts of their range. The sea star (Pisaster ochraceus) is a keystone predator of rocky intertidal communities in western North America (Paine 1995). This starfish preys primarily on two mussels Mytilus californianus and Mytilus trossulus. A study along the central Oregon coast showed that three distinct predation regimes exist (Menge, B. A., and T. L. Freidenburg. 2001). Strong keystone predation occurs along wave-exposed headlands. Less strong predation by sea stars, whelks, and possibly other predators occurs in a wave-protected cove. Weak predation occurs at a wave-protected site regularly buried by sand. If keystone species do exist, how do the links within a system dominated by such a

Esistance and conductive putty Essay Example for Free

Esistance and conductive putty Essay The aim of this investigation is to find out the relationship between resistance and conductive putty, and to see how length of putty affects this relationship. The Experiment: Conductive putty is specially designed to be a conductor; this is achieved by adding carbon black. This can easily be used to prove the concept of resistivity because it is malleable and so the cross-sectional area, length and shape can easily be changed. This experiment will show the effects on resistance in a circuit, as the length of putty decreases. I will be using 30cm of putty, and decreasing it by 5cm each time. First the voltage of the battery will be taken using a voltmeter, and this will be recorded at the start of the experiment. Then a circuit will be constructed containing the battery, the ammeter and putty. See diagram. For each different length of putty, a reading will be recorded from the ammeter and when the practical has been completed, I will work out the resistance using the formula R=VI. From those results I will draw a graph and then evaluate and conclude my experiment. Diagram: Constants: My constants include the weight of my putty I am going to start each experiment with 50g of putty. I will also sustain the same thickness of putty throughout my experiment, and the same battery will be used constantly. Variables: Possible variables in this experiment are temperature, voltage, cross-sectional area, mass, surface area and length. My variable is going to be the length of my putty, which will decrease by 5cm each time. I am going to start each experiment, using 30cm of putty. Fair Test: To ensure my results are as accurate as possible, I will make sure my experiment is a fair test. For this, there should only be one variable. Other procedures can ensure it is a fair test, such as accurately measuring the putty to make sure it is decreased by 5cm exactly every time. The same battery should be used throughout the experiment and to guarantee no results are anomalous, the experiment will be conducted three times and a mean average will be taken from each result. Prediction and Hypothesis: I predict that the resistance will be directly proportional to the length of the conductor so that if the length is doubled, the resistance will double providing all other factors remain constant. My hypothesis for this is that conductors have lower resistance when they are shorter because the electrons have a shorter distance to travel so more energy is conserved since there are fewer collisions, and the current is higher. In the longer lengths, as free electrons move from atom to atom some energy given off to heat. The longer a conductor is, the more energy is lost to heat. The additional energy loss subtracts from the energy being transferred through the conductor, resulting in a decrease in current flow and an increase in resistance Safety: The conductive putty is a harmless, non toxic and non-staining, however if gloves are not worn, your hands become black and you will need to wash them. A lab coat should be worn to minimize marks on clothes and the experiment is conducted on a tray to reduce the possibility of a messy workspace. Apparatus list: 50g of conductive putty 2 coins Tray to work on Knife Ammeter Ruler Voltmeter Wires Crocodile clips Gloves Method: Put on gloves and rolled putty into 30cm long piece on the tray, trying to keep the thickness consist ant. Used voltmeter recorded the voltage of the battery. Connected battery to ammeter, and connected ammeter and other terminal of battery to putty by putting crocodile clips on the ends of the wires, clipping them to coins and placing coins at either end of the putty, this was done to make a reliable connection. See circuit diagram. Recorded reading from ammeter. Measured 5cm of putty with ruler and cut with knife. Re-attached putty to circuit. Repeated process, deducting 5cm from puttys length each time, recording the reading from the ammeter. Repeated experiment three times, which will enable me to spot anomalous results. Results: I have calculated the resistance using the formula: R=V/I. Resistance is measured in ohms and the unit uses the symbol ?. Experiment 1 battery voltage = 6. 12V: Length of putty in cm Amps in A Resistance in ? Analysis of Results: This graph shows me the results for all three of my experiments, and there is a line of best fit for each experiment. There are some inaccuracies as the voltage was slightly different for each experiment, and I feel that points for the later experiments are also out. This is visible in my results and is maybe due to the fact that the same piece of putty was used for all three experiments, and so heat from my hands must have affected results. I have taken the averages of my results. Length of putty in cm Resistance in ? These are my average results. These results were plotted on a graph (see graph) and they show a visible decrease in resistance as the length of putty decreases. This would prove my prediction and hypothesis to be correct, as it states that the putty will have lower resistance when the length is shorter rather than longer or the resistance of a conductor is directly proportional to its length; due to factors such as loss of energy to heat, higher rate of collisions etc.(see prediction and hypothesis) However, when looking at my graph I noticed that the two points representing the shortest lengths of putty were out. This could be because as the putty was being worked, rolled and cut throughout the experiment it had become warmer and softer due to the heat from our hands; this could have affected the resistance. Evaluation: My results have proven my prediction and hypothesis to be correct, in that resistance is directly proportional to the length of the conductor, in this case the conductive putty. I think my results were quite accurate, but what may have let them down was the fact that the batterys voltage was slightly different for each experiment and the coins used to connect the wire to the putty, did not stay in place very well. I also noticed there was often a big jump in amps and resistance between 10cm and 5cm of putty. This can be seen by looking at my results and the graph, and I have concluded that this is probably caused by my hands transferring heat to the putty by means of conduction, as the putty is regularly in contact with my hands during the experiments. I expect this could be separate experiment, in which we could investigate how temperature affects resistance. If this experiment was going to be redone, then I think I might use a new battery for each experiment, and record the voltage as constant for all experiments. Also I would maybe use a different method to connect the wires to the putty, like maybe sticking the wires directly and vertically into the ends of the putty. Another thing to do would be to use temperature or even cross-sectional area as a variable alongside length, and to do a series of experiments involving increasing the length while decreasing the cross-sectional area, and vice versa. Conclusion: I think this experiment was a success in that it proved the theory that resistance is lower with shorter lengths of conductor and my hypothesis declares that as the electrons have a shorter distance to travel if the length is shorter, there are fewer collisions and less energy is lost to heat unlike in a longer length of conductor, so the putty will have lower resistance. Therefore my hypothesis was correct and I have successfully concluded my experiment proving that resistance is directly proportional to the length of conductor. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Electricity and Magnetism section.

Changing In The Role Of Management Accountant Accounting Essay

Changing In The Role Of Management Accountant Accounting Essay Abstract This essay gives an overview of the changing role of management accountant and the management accounting practices. An idea of how these changes were developed and the factors behind the changes what were the reasons for implementing the changes, what were the main drivers and to what extent these changes are now being practice in the real business world? Introduction Over the few decades- many writers have pointed to the work of Johnson and Kaplan (1987) as an organ in this respect that there has been a shift in the expectation of management accountant. This essay is a brief overview of why, how, and to what extent there has been a change in the role of management accountant over the last three decades. In the past decades business environment has changed significantly, this is mainly because of the changes in technology and ever growing demands of business managers all around the globe. These changes have brought a significant level of change in economical factors of business world and management accounting is no exception. And with these changes management accounting as a whole is effected, it has brought changes in accounting system and techniques and has been subject to various debates as to bring changes in the function of accounting. Nevertheless, there have been mainly two types of development: adoption of new tools and techniques which en hances accounting practice, and on the other hand change in the role of management accountant, which is towards acting more in decision making and advisory rather than solely focusing on providing information. In the following sections this essay will give a brief idea of the main reason behind the changes and how these changes effected the management accounting practices and to what extent these changes are adapted by the accounting sector. Reasons for the changes The ever changing environmental and technological factors has affected the global economy in past few decades, and accounting and finance is a key player in running any economy. And as being a major factor in running any economy accounting practices has suffered significantly. But the focus in this essay is on management accounting and its practitioner and why, how and to what extent there has been a change in their practice. Laboring under the shadow of financial reporting, auditing and taxation, on number of occasions management accounting has escaped the spotlight of critics. Often management accounting and the role of management accountant is relegated to the lower crust of accounting, and was limited to the role of organizational book keeping and budgeting and sometimes only to the extent of obligatory university or professional body courses. But if we look in this matter from historical point of view management accounting was and to some extent still considered as a dull profession. We can say that due to globalization of markets which have increased competition, and now markets are more volatile, where reaction time is very little for companies to act. Advancement in information and production technologies, which have reduce the time of information processing by accounting specialist and has enabled other organizational staff to take up tasks by themselves which were previously labeled for accountants.  [i]   Furthermore systems like SAP are becoming more common in multinational companies, and in some medium size companies. A recent survey on this topic has also proved that there has been a change in needs of mangers information; this might be because of the changing style of organizational structure. In recent years due to severe competition among organizations of being on top, and where change is necessary because of different market conditions, and of course different business strategies used in different organizations. All these factors are the reason for the change in the practice of management accountants. Implementing the changes and its Effects If we summarize the recent surveys on changing role of management accountant, we will see that there are two types of factors that have brought a change in the environment of management accounting operations. Externals factors have forced organization to change there internal structures to compete with ever improving technological industry. The 21st century management accountants have developed into a multi-functional engine and are more involved in accounting matters than before. Now managers need more information than before, for decision-making and relevant organizational matters needed for profitable outcome. Internal organizational factors like decision making require more advance information and efficient modes are required to perform such tasks. So with that majority of the information management accountant have these days are computerized and are easily accessible at all levels of the organization and managers who can immediately see their variances and monitor their performance daily. These new development has replaced old methods where managers were able to see the progress at the end of the month. During a conversation between CIMA members it was stated: now systems are such that managers can generate information without reference to the financial analysts. So both have access to the same information. But they both use it in different ways. That has been a major change. A variety of terms are used to describe the new role of management accountant is or should be aspiring, which include modern business-oriented accountant (Granlund and Lukka, 1998b), business partner (Siegal and Sorenson, 1999), internal business consultants (Burns and Vaivio, 2001), strategic management consultant (Holtzman, 2004), or Hybrid accountant (Burns and Baldvinsdottir, 2005). Nevertheless, theme was one way or the other same regarding the new role.  [ii]   But the matter of fact is the role of accountant is more important than before, not only in the corporate level, but also at national and international level. The main focus of management accountant has always been to improve their organizations performance and profitability, but now due to changes in different environmental and economical factors their approach has changed in recent time for good. Noticeable change over time is that in years before, a great deal of management accounting work was driven by the need of compliance and control. But now, emphasis on compliance and control are declining, while factors like competitive support has risen due to increased competition, greater customer focus, importance of quality and of course globalization. The increased emphasis on competitive support now require management accountant to have strong analytical and communication skills. Furthermore, they now support and process managers, and are directly involved in decision making. They are also involved in long and short-term planning, they also have to develop systems to support and provide essential information needed. With these new developments management accountant must directly involved in formulation, and the implementing business strategies. To what extend there has been changes Today, as compared to previous decades management accounting practices has changed quite a bit, now management accountant has to reconcile the broad view of business. Today management accountant are more effective and efficient. Management accounting is changing, and reason for these changes is the factors. These factors are as mentioned above: changes in the economic and social structures, globalization issues, changes in the markets, and technological developments and last but not least need for organizations to become customer focused. The focus have shifted from historical stewardship to more advance role of strategic planning and feed forward control (pierce, 2001). Now armed with advance skills, new technology, more analytical skills and leadership qualities the new management accountants are emerging with the change. Management accountant these days spend their time on strategic management accounting with a view of broadening the concept of traditional management accounting. The term strategic management accounting was first introduced by Ken Simmonds in 1981. And CIMA describes this terminology as a form of management accounting that focuses on information which relate to factors external to the firm, as well as non-financial information, and internally generated information. This integration is now more important because it enables managers to see the day-to-day development of the business process. How these processes are being handled and what will be there outcome, and that way this is seen as an important function of the new and more advance management accountant. And with the changing role of management accountant, in some companies their job titles are also changing as mentioned above like business advisor, business analyst and few others. Furthermore, some surveys have suggested that there will be more changes in the role of management accounting, management accountants will be taking up the duties of handling matters like designing, developing and operating financial and management information system. The trend is that management accountant is now working more with business units, rather than working as an individual unit as happened in the past. This is mainly because of the shift in the duties of the management accountant and changes in the organizational structures. Now management accountant work alongside managers, engineers and so on.  [iii]   In some cases it is noted that management accountant are more involved in issues of corporate strategy, they are more involved and are not acting as an individual unit, and this is the reason the need for management accountant to be more skillful, advance are becoming a mandatory qualification. To sum up the situation of the role changing or we can also say that taking it to next level the factors played a very important role, factors such as; technology, restructuring, globalization, takeovers/mergers, new accounting techniques and so on. Management accountants are adapting to the change which is not only helping the organizations to be more effective in making profit, but it is also improving the dull image of the management accountant. Conclusion In the end we can say that the changing roles of management accountant are for the good of the profession. As to compete in this fast growing economical world, with all the development that are taking place around us accounting and finance plays an important role in any successful economy. As a whole the role of management accountant have moved into another level. With all the new techniques and technological advancement have brought new softwares which have made work easy and faster for the management accountant, which is always a need in this fast pace world where markets are very competitive and margin of error is very high.

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Guidone 1 Throughout time Shakespeare has influenced society in many ways. He has been a great inspiration to literature, plays, painters, movies and language. Many of his plays and poems have been required as a part of liberal education. His idea’s on such subjects as heroism, romantic love, and the nature of tragedy have shaped the attitudes of millions of people and influenced their thinking.   Ã‚  Ã‚  Ã‚  Ã‚  Shakespeare contributed greatly to the English speaking language. Many phrases and words from Shakespeare’s poems and plays have become apart of our everyday speech. Millions of people that use his words or phrases are unaware they are created by him. Some common words he has invented are assassination, bump, eventful, and disgraceful conduct. Shakespeare introduced almost 3,000 words into the Oxford English Dictionary. There are over 1700 common words of Shakespeare origin in our everyday vocabulary. The most rapid growth of vocabulary in the recorded history of language was the period of Shakespeare. Due to his inventiveness and creative word play he has had the greatest impact on our daily vocabulary. Many people quote Shakespeare almost everyday without knowing it. If a person doesn’t understand my argument and the one party state’s â€Å"It’s Greek to me†, or if someone has ever â€Å"Refused to budge an inch†, they a re quoting excerpts of Shakespeare. Many people re-sight lines from Shakespeare’s plays without even reading them. One of the most famous lines is â€Å"To be or not to be.† He experimented with all sorts of words and phrases to create vivid pictures in the mind. Shakespeare helped shape many English speaking countries. He often invented and changed words around. Some of Shakespeare’s words may be confusing or unfamiliar to Guidone 2 many of the modern readers. However, many of the words he had employed are no longer being used.   Ã‚  Ã‚  Ã‚  Ã‚  Since Shakespeare’s death he has influenced every generation of writers, painters and still has some impact on contemporary plays. Many rhetoric devices were used in his work, that writers are often using now. Some familiar ones are alliteration, which is the same sound being repeated in a line or group of lines and repetition, which is when something repeats itself. He often used a lot of imagery, which many writers found useful. With imagery writers were able to create excitement. Shakespeare’s Macbeth was one of the famous and brilliant examples of imagery. There are many paintings from Macbeth that have been done by some of the best artist.

Darwin and Gambles Debate Essay -- Nathaniel Hawthorne The Birthmark

Darwin and Gamble's Debate Nathaniel Hawthorne's "The Birthmark" gives a human face to Darwin and Gamble's academic debate concerning natural selection. In the story, Georgiana has a birthmark on her cheek that has been visible her entire life, but was just starting to agitate her husband, Aylmer. He used science to successfully rid his wife of the birthmark, but the procedure was fatal. The process that the couple went through appears to be a response to the theory of natural selection, with her death as the ultimate conclusion. This essay will examine the theory, the story, and the link between them. While Darwin and Gamble's theses contain multiple arguments and have multiple conclusions, the most important of them is the notion of natural selection. In Descent of Man, Darwin summarizes his argument by saying, "through the contest of rival males†¦[and] from the general struggle for life†¦the characters gained will have been transmitted to the offspring." (Darwin 6). It is contended that change among a given species is spontaneous (and normal), and sometimes the change is good (insofar as it adds a positive trait or traits to the organism), and sometimes it is bad. Those organisms with good changes will be fit to gather food and protect offspring, and those that are less fit will be less apt to do this. Extending the logic of this statement, the fit will survive, and the weak will die. The argument of whether or not one gender has become superior to another within the same species is irrelevant to Natural Selection. However, Darwin and Gamble bring this dispute to each of their respective works. Since they agree on the original concept of the survival of the fittest, their disagreements are reconcilable. Darwin crea... ...t is my contention that the application of the theory of natural selection to society and humanity is relatively unimportant, when compared with the application of the theory to evolution. Hawthorne's "The Birthmark" was a very timely interpretation of the events surrounding the emergence of the theory of natural selection. It shows the reader that the academic debate between Darwin and Gamble has a human face, and that all of us can learn from Aylmer's mistake, and Aminadab's nobility. Works Cited 1. Darwin, Charles. "Sexual Selection in Relation to Man." The Descent of Man. New York: Prometheus Books, 1998. 576-586. 2. Gamble, Eliza Burt. "The Supremacy of the Male." The Sexes in Science and History. New York: G.P. Putnam Sons, 1916. 74-92. 3. Hawthorne, Nathaniel. "The Birthmark." Anthology of American Literature. New York: McMillan, 1985. 1159-1169.

The Roaring Dragon Hotel

Introduction: According to Grainger (2008), â€Å"The Roaring Dragon Hotel is one of the three start hotels in south-west China and it is a state owned enterprise â€Å"(p.1).Background: Potential of the Roaring Dragon Hotel is not recognized and provisional government decides that Roaring Dragon Hotel requires modernization (Grainger, 2008). According to Grainger (2008), â€Å"The organizational culture was relaxed with many employees managing to find time to read newspapers, drink tea and some managers even conducting private business and leaving the premises during working hours†(p.1).Problem: According to Grainger (2008), â€Å"The challenge was to transform a large group of relaxed family based employees, working under an ad-hoc management style, into a professional group of dynamic employees operating within a structured international organizational culture†(p.2). There are huge modifications in Roaring Dragon Hotel’s organizational culture and number one guanxi holder is going to work with opposite competitor (Grainger, 2008).Opportunity: The contract between Chinese provincial governments and Hotel international would have been worked if all the problems have been solved and Roaring Dragon Hotel can be named as Hotel International Roaring Dragon Hotel (Grainger, 2008).Recommendations: According to FakhrElDin (2011), Cultural Intelligence is very important to any multinational company and it is a significant factor for employee in the international hotel, training to improve Culture intelligence is needed in this sector. Internal communication is the first relationship to organization and for strong relationship they should be assigned with rules and responsibilities (Abdullah & Antony, 2012).Conclusion: Organizational culture and relationship between international manager and employees is important.

Corporate Governance In Australia Essay

INTRODUCTION Corporate governance is the process by which the corporate can implement proficient decision making, appropriate resource allocation, and involve in strategic planning. It concentrates on how objects of are laid down and attained, how risk is watched and evaluated and how performance are maximized. Corporate governance helps corporations to construct value through innovation, provide accountability and to implement proper control system to quantify the risk involved. Corporate governance has become more relevance to determine the cost of capital in a global capital market. So as to facilitate the Australian companies to compete internationally and to preserve and promote investor’s reliability both in Australia and overseas, corporate governance is to ensure to review those practices to reflect both local and international developments and position. Corporate governance must be evolutionary and receptive to the information requirements of local and international investors. In Australia, Corporate governance has been defined by two chief guides viz. ‘Corporate Practices and Conduct ‘issued by the Bosch Committee in 1995 and ‘A guide for Investment Managers and Corporations â€Å"issued by IFSA in 1997 and also by ASX publications and the Australian Institute of Directors. Most definitions on corporate governance refer mainly the following: The devise by which companies are controlled and directed and The devise by which those who control and direct a company are supervised. FUNDAMENTALS OF CORPORATE GOVERNANCE: To explain the functions of the management and the board clearly. The Board is vested with a balance of skills and independence. More emphasis on the honesty on decision makers on corporate’s plan and financial performance. To inform periodically the investors the important happenings in corporate financial activity and enhances the integrity of the corporate reporting. To report all material factors in time and with a matured outlook. The shareholder’s rights shall be clearly acknowledged and to be honored. Business decisions with inherent risk and uncertainty is to be handled with proper internal control. To cope with the modern risks of business, introduction of formal mechanisms to enhance board’s and managerial effectiveness. Proper rewarding system should be designed to attract skills required to achieve the result anticipated by shareholders. Good governance takes care of the interest of all stakeholders . In Australia, relevant disclosures are made in a separate corporate governance section of the annual report of a company. Australian Corporate Act requires certain information is to be included in the director’s report and these informations can be included in the corporate governance section in the annual report of the corporation. The main general salient features of corporate governance codes are: It is the way of guaranteeing that the implementation of economic power by the corporate sector. Board of Directors of a corporation has inherent managerial and supervisory function. It ensures that there is a demarcation between managerial and supervisory roles. It includes the separation of the office of the Chairman and CEO, the installation of independent directors, formation of committees of Board like remuneration, audit, share transfer etc. Major codes of the corporate governance deals with disclosures to shareholders more particularly director’s remuneration, top executive remuneration, independence of directors and shareholding pattern etc. Thus corporate governance is aimed at the maximization of shareholders wealth and to protect their interests. While the corporate governance is helpful to instill confidence on investors and at the same time if there are grave governance deficiencies, the investors may shun the shares of individual companies, a section of markets or even national capital markets. Westpac Banking corporation of Australia has not only stood top of the Australian corporate governance league race in 2004 but also only the bank on international level to enter into the global top 20 corporates as appraised by Governance Metrics International , an International rating agency.[1] The annual IR Magazine Australia awards for   2005 had been awarded to the following Australian companies for their best corporate governance in investor relations by ASX 100 company viz. ANZ , BHP Billion , Blue Scope Steel, and Stock land.[2] COMPARISON BETWEEN CORPORATE GOVERNANCEANDCORPORATE RESPONSIBILITIES: The recent scandals in US like Enron, WorldCom, and Adelphia has compelled the governments across the world to promulgate enhanced legislation, improved corporate codes and corporate boards have been â€Å"re-balanced† to have more independent directors. Corporate responsibility is nothing but the extension of governance beyond simple compliance to squeeze wider social values. A recent survey finds that of late more business heads and corporate investors are factoring corporate responsibility into their decision making process. Thus the corporate responsibility has become vital or pivotal consideration in investment decisions. As per views of business heads, corporate responsibility should include ethical staff behavior, good corporate governance and transparency where as for investors, transparency, good corporate governance and ethical staff behavior were the top most concern.   Further it is revealed that corporate responsibility could augment corporate’s bottom line and resulted in intangible advantages of brand enhancement and better staff morale but it has disadvantages also like unproven business benefits and high cost involved . The Role of ASIC (Australian Securities & Investment Commission) in corporate governance: The ASIC mainly supervises and enforces compliance with the various provisions of the Australian Corporations Act that are devised to control and influence the exercise of power by top managers and directors. The major supervision provisions include duties of directors, general meetings of the company shareholders, and transactions with the related parties. But the full compliance by the corporates can not be possible unless there exists adequate enforcement mechanism. Hence support of the government is needed for the enforcement mandate of their securities market. ASIC has successfully through its various ranges of enforcement measures have brought a series of civil, administrative and criminal actions to bring accountability to wrongdoers. Former CFO of Harris Scarfe was sentenced to 6 year imprisonment in a criminal charges leveled against him by ASIC[3]. Likewise, civil penalty proceedings were initiated against erstwhile directors of HIH. Court held that they breached their duties as directors under the Australian Corporations Act and debarred them to involve in the management of company affairs for 20 years and 10 years.Further, these erstwhile directors were directed to pay compensation of more than A $7 million and also Court imposed pecuniary penalties in each case. Further ASIC is contemplating actions in more than 200 cases most of which mainly concerned with issues relating to failed governance. Further, more than 69 persons were imprisoned for committing white collar crimes from 1999 to 2002. ASIC tries to enforce the corporate codes by compelling to make disclosures, the operation of exchanges (where listing arrangement also requires corporate governance compliances), the directives on audit and licensing of intermediaries. Comparison of Corporate Governance between USA and Australia. In the post-Enron era, the main difference is the USA’s perspective rule based approach and Australia’s more flexible principle-centered approach. Moreover, in Australia, there are array of menu of regulatory and other official standards for business. These includes Australian Corporation Act, regulatory guidelines such as ASX corporate governance council’s best practice ‘suggestions on corporate governance , regulatory ruling like ATO rulings ,regulatory guidelines like ASTC policy statements and practice notes, official standard-setting and judicial pronouncements. [i] Most of SOX provisions are identical to Australian laws and regulations such as CLERP 9 and the ASX corporate governance guidelines. Australia’s corporate governance guidelines are designed mainly for the Australian companies and its stock market and it is user-friendly. ASX corporate governance guidelines and CLERP 9 contains certain SOX governance conditions. It is to be noted that thought there is no 100% identical nature but its intent and objectives are more or less identical. There is a marked difference in approach between USA[4] and Australia towards corporate governance as the former is adopting ‘rule-based’ where as the latter is adopting ‘principle-based’ approach. Australian corporate governance is of suggestive in nature whereas USA is following prescriptive nature to governance matters. Thus the suggestive nature provides an in-built elasticity to retort and adjust to local industry and market forces and too industry ‘best practices’. Though the objective of some US and Australian governance is identical, the expressions applied are different thereby making strict compliance more complex. Further, relationships between Australian companies and their external auditors may be viewed by the SEC of USA as a violation of US auditor independence standards and may result in major penalties regardless the fact it complies with the Australian governance standards. This is to be considered if an Australian company is listed in the US. In the case of auditor independence, Australian â€Å"general independence ‘code is somewhat relaxed than the comprehensive list of specific preclusions under SOX. In US, in addition to annual and quarterly financial reports, a listed company has to file periodic reports on material ‘off-balance sheet ‘transactions. Further, it requires personal certification by the CEO or CFO that reports do not include any untrue statements or material omissions and reporting of changes of ownership status.    Under ASX listing rules and Corporations Act of Australia, a listed company has to file continuous disclosures to instill confidence for investors and facilitate them to have timely access to price sensitive information which have an effect on corporate’s securities. Australian governance codes specify lesser specific responsibility on periodic reporting. Where as under SOX, periodic disclosure is easy to implement as it specifies what are to be to reported every financial quarter and not contemplating to report what is materially price-sensitive which has to be disclosed on continuously under ASX codes. Under US governance codes, stringent and rigid set of prohibitions are placed on external auditors and audit functions which is in line with the US ‘rules based approach’. In contrast, CLERP 9 requires Australian public companies and their external auditors to exhaustive codes concerning auditor independence and fortifies existing auditor independence requirements through a recently introduced set of codes on auditor independence, periodic rotation of audit partners, placing restrictions on employment relations between the client and the auditor and imposing mandatory cooling off period before members of an audit firm can become a officer or director of the client. The main difference lies between Australian ‘general independence test’ which is somewhat liberal than the specific preclusions under SOX. Under SOX, CEO or CFO has to certify that they have reviewed the relevant financial report and it is not misleading or contain untrue information’s and there exists enough internal controls. In Australia, CLERP 9 mandates that CFO or CEO should provide a written certification on financial statements which is to be addressed to Board of Directors and not to the market itself. Thus the Board of directors assumes definitive authority by way of director’s declaration made in accordance with the board’s resolutions as a part of corporates annual financial report. ROLE OF DIRECTORS IN CORPORATE GOVERNANCE IN AUSTRALIA: In one of the study conducted by the Australian Council of Super investors reveals that about 61% of Non-executive directors appointed in 2005 in S&P / ASX 100 companies were found to be holding directorships with S&P / ASX 100 companies already in Australia .This shows that holding directorship in S&P / ASX 100 companies is the pre-qualification to act as NED in Australian companies. Study also reveals that there is steady increase in the appointment of NED in Australian companies. About 62% of female directors of ASX listed companies found to be holding more than one board as compared to an average of 41% for males. Remuneration package for the NED services is on the increase and about on average received about $ 154,170 in remuneration for director’s service in Australia. Court decisions in Australia have detailed and explained what is required of a director. A director should have a fundamental objectives of the business in which the company is involved. A director should be aware of the recent happenings in the company and hence it becomes compulsory on the part of the director to attend the board meeting regularly. Directors should develop a familiarity with the financial status of the company and frequently review its financial reports. A director may be appointed as whole time director due to his expertise knowledge and in such events, he has the duty to evince attention to the company’s affairs that might rationally be estimated to attract inquiry. A study conducted by UTS centre for corporate governance in Australia in June 2006 reveals that all the participating Australian companies in the study had included short biographies of their directors in their annual report as demanded by the Australian Corporations Act, 2001. The average size of the Board is 8 with minimum of 4 and the maximum of 14. Majority of board were comprises of independent, non-executive directors and almost only one executive director in the Board. The ASX study of corporate governance practice disclosure in 2005 revealed that about 47% of companies had not complied with inclusion of independent directors in the Board. As per ASIC report issued during October, 2006, it will check the company’s ASX announcements in case if the company has a market cap of less $500m and if it is engaged in the mining, biotech or energy sectors. Further, ASIC is seriously considering its role to make sure that ASX announcements are accurate and timely. As result of this, the director’s responsibility towards corporate governance has become more accountable. While the ASIC’s authority to impose fines for breaches in the continuous disclosures is more relevant in forcing the corporations to adhere the governance standards, it is also toothed with other regulatory measures as per details given below: ASX has recently requested that Cudeco to clarify its explorations results. A suit was initiated against Jubilee Mining NL for $1.8m by one of its shareholders for late disclosure. The federal Court imposed on Chemeq Ltd a $500,000 penalty plus cost for having botched to disclose the increase in cost of construction in its manufacturing facility and the lack of commercial significance of the grant of a US patent. In the case of ASIC v. HIH Insurance Ltd, Supreme Court of New South Wales found that there was violation by the directors and breach of duty under the corporations Act. Rodney Adler was found to breach his duty as director under section 180,181, 182, and 183 of the Australian Corporation Act and Dominic Fodera was found to be breached the section 180.   Further the Court held that payment of $ 10 million to a related party violated the related party provisions as well as the Australian Corporation Act, 2001 dealing with the extending financial help in the purchase of its parent’s shares. CONCLUSIONS: Australian governance laws and regulations are not prescriptive in nature and instead they recognize that diverse governance structures coincide better for different entities.   Since US have introduced tougher corporate governance codes, the Australia may follow the suit in very near future. In Australia, disclosure is required both periodic and on continuous basis. For instance, all listed companies to disclose well in advance the price sensitive information to the market operator who will then make it available to market participants. However there is lack of severe penalties in case of breaches for disclosure. Thus taking advantage to this loophole, most of the corporates want to avail this as a justification to shun disclosures. The Australian corporations should cope with the international developments on corporate governance. The board should be made aware what is being happening in the overseas. Some argue that the corporate governance is nothing but a cultural issue and in achieving the governance, one has to battle with human nature every day. To obviate these breaches, it is recommended that ASIC should be toothed with more powers to levy administrative fines.   This would definitely augment suppleness, cost-effectiveness and appropriateness of remedies. This will also strengthen the integrity of the law by offering an impartial remedy for conduct that is otherwise absent. It is reported that present disclosure obligations under listing rules is of ambiguous in nature mainly pertaining to the continuous disclosure obligations.   It is necessary to redraft the listing rules to explain the existing exclusions, transforming the balance in favor of disclosures in all but under short circumstances. With the template reviews advocated by the 2003 Uhrig Report which is well under consideration, it is necessary to pause and hold in mind that governance is a means to an end. Proper implementation of governance will contribute to social and economic welfare through efficiency, ethical behavior and competitiveness. It maximizes the profit in the private sector and it monitors the expenditure of pubic monies in public sector. It has become also need of the hour to reintroduce the obligation on the part of a company to respond market rumors in specific situations.   One has to take into cognizance non-accountability of press who publish false rumors thereby triggering movement of share price in the market which creates a not informed and uninformed market. Thus it has become corporates onus to intervene and to augment the market’s state of knowledge. Thus the Corporate governance is the tool to redress the conflicts of interest between various ‘role players’ in the industry and encourages them to share more responsibilities to adhere corporate accountability. [1] http://www.iccwbo.org/corporate-governance/id3615/index.html [2] Awards for best investor relations by Australian companies , JCN Newswires , Septemeber,19,2005. [3] http://www.asic.gov.au/asic/ASIC.NSF/byid/B285C74C43B87CBBCA256FDC00818039?opendocument [4] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. [i] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. Brada, Josef C., and Inderjit Singh. 1999. Corporate Governance in Central Eastern Europe: Case Studies of Firms in Transition. Edited by Josef C. Brada, Saul Estrin, Josef C. Brada, Alan Gelb, Inderjit Singh, Josef C. Brada, Inderjit Singh, Saul Estrin, Xavier Richet, Josef C. Brada, and Inderjit Singh. Armonk, NY: M. E. Sharpe. Francis, Ronald D. 2000. Ethics and Corporate Governance: An Australian Handbook. Sydney, N.S.W.: University of New South Wales Press. Hollingsworth, Kathryn, and Fidelma White. 1999. Audit, Accountability, and Government. Oxford: Clarendon Press. Power, Michael. 1997. The Audit Society: Rituals of Verification. Oxford: Oxford University Press. Sherman, Hugh, and Rajeswararao Chaganti. 1998. Corporate Governance and the Timeliness of Change: Reorientation in 100 American Firms. Westport, CT: Quorum Books. Stapledon, G. P. 1996. Institutional Shareholders and Corporate Governance. Oxford: Clarendon Press.    Strathern, Marilyn, ed. 2000. Audit Cultures: Anthropological Studies in Accountability, Ethics, and the Academy. London:    Bryan, Dick. 2000. The Rush to Regulate: The Shift in Australia from the Rule of Markets to the Rule of Capital. Australian Journal of Social Issues 35, no. 4: 333.    Business Focus; the Imperatives of Developing an Enterprise-Wide Risk Management and Governance Framework. 2004. Manila Bulletin, 21 June, NA.    Cheverton, Jeff. 2005. Past Their Peak? Governance and the Future of Peak Bodies in Australia. Australian Journal of Social Issues 40, no. 3: 427+.    Des Horts, Charles-Henri Besseyre. 2002. Governance, Knowledge Creation, and Organizing: An Afterthought. Human Resource Planning 25, no. 4: 48+.       Fort, Timothy L., and Cindy A. Schipani. 2003. Adapting Corporate Governance for Sustainable Peace. Vanderbilt Journal of Transnational Law 36, no. 2: 377+.    Gourevitch, Peter A. 2003. Political Determinants of Corporate Governance: Political Context, Corporate Impact. Yale Law Journal 112, no. 7: 1829+.    Kay, John, and Aubrey Silberston. 1995. Corporate Governance. National Institute Economic Review.    Marks, Robert E. 2002. Corporate Governance, or Where Does Ownership Lie? Australian Journal of Management 27, no. 2: i+.    Paredes, Troy A. 2004. A Systems Approach to Corporate Governance Reform: Why Importing U.S. Corporate Law Isn’t the Answer. William and Mary Law Review 45, no. 3: 1055+.    Vancea, Minodora D. 2003. Exporting U.S. Corporate Governance Standards through the Sarbanes-Oxley Act: Unilateralism or Cooperation? Duke Law Journal 53, no. 2: 833+.

Cat in the Rain Essay

In his frictional story, â€Å"Cat in the Rain,† Ernest Hemingway sets the scene for his fiction in a hotel room in Italy on a rainy day. On the first reading of this short story it can be easily interpreted as a wife nagging her husband, who is lying in bed preoccupied reading a book. The young married American’s being in a foreign country on business or pleasure, (Hemingway does not say) one would expect that the expression of love would be more prominent even more so on a rainy day, however, this is not evident in Hemingway’s story. What Hemingway does illustrate is how an â€Å"American wife† feels starved for attention and love in her failing marriage. He uses a cat as a symbol of compassion an affection to express the woman’s need for these emotions. Her frustration with her husband, whom does not readily allow her to physically share these feelings with him, also becomes very evident in the story. Hemingway uses the heavy rains as a tool to confine the American couple to their room, thereby, allowing him to display the interaction between the couple and further demonstrate their deteriorating marriage. In the story, the â€Å"American girl† sees the cat through her window â€Å"crouched under one of the dripping green tables,† and immediately feels the need to rescue it. Here is where Hemingway begins to use symbols to express the girl’s determination to save her faltering marriage. He shows the girl’s eagerness to go through the heavy rains to save the cat. The cat represents what she wants in her marriage, affection and compassion, and the rain signifies In his frictional story, â€Å"Cat in the Rain,† Ernest Hemingway sets the scene for his fiction in a hotel room in Italy on a rainy day. On the first reading of this short story it can be easily interpreted as a wife nagging her husband, who is lying in bed preoccupied reading a book. The young married American’s being in a foreign country on business or pleasure, (Hemingway does not say) one would expect that the expression of love would be more prominent even more so on a rainy day, however, this is not evident in Hemingway’s story. What Hemingway does illustrate is how an â€Å"American wife† feels starved for attention and love in her failing marriage. He uses a cat as a symbol of compassion an affection to express the woman’s need for these emotions. Her frustration with her husband, whom does not readily allow her to physically share these feelings with him, also becomes very evident in the story. Hemingway uses the heavy rains as a tool to confine the American couple to their room, thereby, allowing him to display the interaction between the couple and further demonstrate their deteriorating marriage. In the story, the â€Å"American girl† sees the cat through her window â€Å"crouched under one of the dripping green tables,† and immediately feels the need to rescue it. Here is where Hemingway begins to use symbols to express the girl’s determination to save her faltering marriage. He shows the girl’s eagerness to go through the heavy rains to save the cat. The cat represents what she wants in her marriage, affection and compassion, and the rain signifies the struggles she is willing to go through to better her marriage, even if it means getting wet in the process. The â€Å"American girl† believes this is a challenge she alone has to endure. Thus, when she announces that she is going to rescue the cat from the rain and her husband George offers to be the hero in the rescue attempt, even though it was a halfhearted offer, she quickly replies â€Å"No, I’ll get it. With the help of the maid she goes through the rain in search of the cat but when she gets to where she saw it last it has disappeared. The â€Å"American wife† becomes even more irritated with herself and her husband when she returns to the room empty handed. She desperately wanted the cat, â€Å"I wanted it so much,† but more so, she wanted change in her marriage and change in her appearance. She was tired of her boyish look and felt she needed to be more feminine, â€Å"I get so tired of looking like a boy. However, George was contented with how things were. He barley even shifted from his book when she began scrutinizing her appearance. The only comment of support he could offer was, â€Å"You look pretty darn nice,† but she required more for herself. The cat, even though symbolic, would have allowed her to express her feelings of affection and compassion, â€Å"I want to have a kitty to sit on my lap and purr when I stroke her. † George, being insensitive to her needs, did not even offer himself as an outlet for her emotions. Instead his remark to her was, â€Å"Oh, shut up and get something to read,† as she continued to utter her discomforts in her appearance and her femininity. Hemingway’s fictional story does have a surprising ending when the maid brings the â€Å"American wife† a â€Å"big tortoise-shell cat†. The â€Å"American wife† receives what she wanted, an outlet to express her affections and compassions, but in fact, it would not help her marriage. The cat was just a symbol of what she wanted from her husband, George. Unless she can convince him to be more open with her and more lovingly expressive with her, her marriage will still falter.

City of Mumbai (Bombay) Essay

Towns and cities have a long history in our world, but opinions vary on whether any particular ancient settlements can be considered to be a city. The first true towns are sometimes regard as large settlements where the populations were no longer simply farmers of the surrounding area, but began to take on specialized occupations, and where trade, food storage and power was centralized. By definition of the city, the first we know of were located in Mesopotamia and in Egypt along the Nile. Before this time it was uncommon for communities to reach considerable size, although there were exceptions such as Jericho and Mehrgarh. Among the early cities, Mohenjo-daro of the Indus Valley Civilization was the largest, with an estimated population of 41,250 , as well as the most developed in many ways, as it was the first to use urban planning, municipal governments, grid plans, drainage, flush toilets, urban sanitation systems, and sewage systems. Our course examines politics and government of selected cites such as Chicago and Miami, this paper will shed light on Mumbai, one the world’s most important and fastest growing city. Mumbai is the most populated city in the all of India and the home of world renowned Bollywood, yet there are still many that have never even heard of the city. This is mostly due in fact to its recent name change; the majority of people around the world still refer this city as Bombay but in 1995 the major city went under a name change and now goes by the name of Mumbai. Present-day Mumbai was originally a group seven islands, and artifacts found near Kandivali, in northern Mumbai indicate that these islands had been inhabited since the Stone Age. Documented evidence of human habitation dates back to 250 BC, when it was known as Heptanesia. In 1534, the Portuguese took over the islands from Bahadur Shah of Gujarat, and named it Bom Baia, Portuguese for â€Å"good bay†. In 1668 these islands were leased to the British East India Company which founded a deep harbor on the east coast of the islands to be ideal for setting up their first port in the sub-continent. Not long after, the population rose from 10,000 in 1661, to almost 6 times that in the next fifteen years. The year 1869 marked the opening of the Suez Canal, which transformed Bombay into one of the largest seaports on the Arabian Sea. Over the next few decades the city grew into a major urban centre, this was spurred by major improvements in infrastructure and the  construction of many of the city’s institutions. India’s independence in 1947 labeled the city as the official capital of Bombay State, and in 1950 with the incorporation of the southern parts of Salsette Island, the city expanded to its present limits. Until the 1970s Calcutta remained as India’s most populous city, but thanks to a construction boom and a significant influx of migrants, Bombay would overtake Calcutta and to this day hold the title of India’s most populous city. And finally as stated earlier, in 1995, the city was renamed Mumbai by the government of Maharashtra, in keeping with their policy of renaming colonial institutions after historic local appellations. As of today the population of Mumbai is approximately 13 million, with a staggering density of roughly 29,000 persons per square kilometer. The ratio of women to men is about 81%; this gap is created by working males who come from rural areas. Mumbai’s overall literacy rate is above 86%, which is higher than the national average. Another surprising figure is the low crime rate; for a city of its size, Mumbai has a moderate crime rate. Mumbai recorded 27,577 incidents of crime in 2004, which is down 11% from 30,991 in 2001. The most common language spoken on streets of Mumbai is an informal form of Hindi, known as Bambaiya, which can be best described as a blend of Hindi, Marathi, Indian English and some invented words. Unfortunately, Mumbai suffers urbanization problems resembling those in many fast growing cities in developing countries such as the ones we study in the course. Issues of widespread poverty, poor public health and high unemployment affect a large section of the population. Also, with little available space to live, Mumbai inhabitants often reside in overcrowded, yet expensive housing, usually far from workplaces, which leads them to make long commutes on crowded mass transit, or clogged air polluted roadways. According to the Business Week, around 45-48% of the population lives in shantytowns and slums. Mumbai is known across the world as the commercial, but primarily, entertainment capital of India. When focusing on Mumbai it’s impossible to ignore its entertainment industry. Most of India’s major television and satellite networks are headquartered in Mumbai, as well as its major  publishing houses. It is hard to find someone, even all the way here in Montreal that hasn’t seen a Bollywood movie. But its not all lights, camera, action in Mumbai, the city also houses important financial institutions, such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India as well as the corporate headquarters of many Indian companies. Thanks to its immense business opportunities and the relatively high standard of living Mumbai has attracted people from all over India and around the world which makes it a hodgepodge of diverse communities and cultures. The bulk of Mumbai’s prosperity is no longer due to the textile mills and the seaport, the local economy has been diversified to include financial services, engineering, diamond polishing, healthcare and information technology. MumbaÄ « contributes 10% of India’s factory employment, 40% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of foreign trade and Rupees 40 billion (US$ 9 billion) in corporate taxes. The city is run by the Brihanmumbai Municipal Corporation (BMC) (formerly the Bombay Municipal Corporation), with executive power vested in the Municipal Commissioner, who is an IAS officer appointed by the state government. The Corporation comprises 227 directly elected Councilors representing the twenty four municipal wards . Mumbai isn’t immune to the commuting nightmares that face the citizens of most modern-day metropolitans. The general public, even those considered the upper class, rely on public transport to travel to and from their workplace. The lack of car parking spaces, horrendous traffic and poor road conditions makes it pointless for even those who can afford it, to own a vehicle. None the less, MumbaÄ « is a very unique city, already over 13 million citizens it continues to grow but at the same time continues to prosper and become one of the greatest cities of the 21st century.

Optical Camouflage

OPTICAL CAMOUFLAGE ABSTRACT: The advancement in science is making what we may have thought of as impossible, probable. Humans may become invisible as the extra terrestrials which are considered to be probably invisible. A new technology provides a way to this. In this paper a scientific technology that is used to implement this idea is presented. The optical camouflage technology is one of the famous scientific technologies which helps in the invention of a new type of cloak called the invisible cloak. This is one of the big revolutions created in the area of virtual reality.It is just a concept of reflection of light by the cloak. The person who wears this cloak will feel as just what he feels with the ordinary cloaks but the person will be invisible to the outside environment. This is the main advantage of this cloak. There are many other interesting features present in this paper about this cloak. CHAPTER 1 : INTRODUCTION: Chaitanya Institute of Engineering & Technology Page 1 OPT ICAL CAMOUFLAGE Although optical is a term that technically refers to all forms of light, most proposed forms of optical camouflage would only provide invisibility in the visible portion of the spectrum.The research on the concept of invisibility was started in 1977 and was very successfully accomplished in 2003. Initially Professor Tachi from the University of Tokyo said that he had first had the idea of developing something to make objects invisible in 1977. But the imag e was flat and unrealistic. He came up with retro-reflective material which causes the coat to act as a screen and gives a transparent – or invisible – effect. Similarly, Duke University is using microwave beam deflection, making it appear almost as if nothing were there at all. If you’ve seen the movie â€Å"Harry Potter† then you may recognize the idea of an invisibility cloak. CHAPTER 2 : OPTICAL CAMOUFLAGE: Optical camouflage is a hypothetical type of active camouflage currently onl y in a very primitive stage of development. The idea is relatively straightforward: to create the illusion of invisibility by covering an object with something that projects the scene directly behind that Chaitanya Institute of Engineering & Technology Page 2 OPTICAL CAMOUFLAGE object. Optical camouflage is a kind of active camouflage which completely envelopes the wearer.It displays an image of the scene on the side opposite the viewer on it, so that the viewer can â€Å"see through† the wearer, rendering the wearer invisible. Although optical is a term that technically refers to all forms of light, most proposed forms of optical camouflage would only provide invisibility in the visible portion of the spectrum. Prototype examples and proposed designs of optical camouflage devices range back to the late eighties at least, and the concept began to appear in fiction in the late nineties. CHAPTER 2. 1 : Components of the Optical Camouflage:Optical camouflage doesn't work by way of magic. It works by taking advantage of something called augmented-reality technology. Augmented-reality systems add computergenerated information to a user's sensory perceptions. Most augmented-reality systems require that users look through a special viewing apparatus to see a real-world scene enhanced with synthesized graphics. They also require a powerful computer. Optical camouflage requires these things, as well, but it also requires several other components. ? A garment made from highly reflective material A video camera ? A computer ? A projector ? A special, half-silvered mirror called a combiner; which is the viewing screen CHAPTER 2. 2 : The Cloak: Chaitanya Institute of Engineering & Technology Page 3 OPTICAL CAMOUFLAGE It is made up of retro-reflective material. It has an observer that receives more of the reflected light and therefore sees a brighter reflection. It can be seen far away and outside in bright sunlight. CHAPTER 2. 3 : Other components: †¢ The camer a captures the digital video behind the person with the cloak. †¢The computer synthesizes the graphics and superimposes them on a real-world image. †¢ The projector shines a light beam through an opening controlled by a device called an iris diaphragm. †¢ The combiner (special mirror) is used to both reflect the projected image toward the cloak and let light rays bouncing off the cloak to return to the viewer’s eye. Chaitanya Institute of Engineering & Technology Page 4 OPTICAL CAMOUFLAGE CHAPTER 3 : CONCEPT OF INVISIBILITY CLOAK: Chaitanya Institute of Engineering & Technology Page 5 OPTICAL CAMOUFLAGE 1.The cloak that enables optical camouflage to work is made from a special material known as retro-reflective material. 2. A retro-reflective material is covered with thousands and thousands of small beads. When light strikes one of these beads, the light rays bounce back exactly in the same direction from which they came. 3. To understand why this is unique, lo ok at how light reflects off of other types of surfaces. A rough surface creates a diffused reflection because the incident (incoming) light rays get scattered in many different directions.A perfectly smooth surface, like that of a mirror, creates what is known as a specular reflection — a reflection in which incident light rays and reflected light rays form the exact same angle with the mirror surface. In retroreflection, the glass beads act like prisms, bending the light rays by a process known as refraction. This causes the reflected light rays to travel back along the same path as the incident light rays. The result: An observer situated at the light source receives more of the reflected light and therefore sees a brighter reflection.Chaitanya Institute of Engineering & Technology Page 6 OPTICAL CAMOUFLAGE CHAPTER 4 : WORKING: Chaitanya Institute of Engineering & Technology Page 7 OPTICAL CAMOUFLAGE Once a person puts on the cloak made with the retro-reflective material, here's the sequence of events: †¢ A digital video camera captures the scene behind the person wearing the cloak. †¢ The computer processes the captured image and makes the calculations necessary to adjust the still image or video so it will look realistic when it is projected. The projector receives the enhanced image from the computer and shines the image through a pinhole-sized opening onto the combiner. †¢ The silvered half of the mirror, which is completely reflective, bounces the projected image toward the person wearing the cloak. Chaitanya Institute of Engineering & Technology Page 8 OPTICAL CAMOUFLAGE †¢ The cloak acts like a movie screen, reflecting light directly back to the source, which in this case is the mirror. †¢ Light rays bouncing off of the cloak pass through the transparent part of the mirror and fall on the user's eyes.Remember that the light rays bouncing off of the cloak contain the image of the scene that exists behind the person wear ing the cloak. †¢ The person wearing the cloak appears invisible because the background scene is being displayed onto the retro-reflective material. At the same time, light rays from the rest of the world are allowed reach the user's eyes, making it seem as if an invisible person exists in an otherwise normal-looking world. CHAPTER 4. 1 : Key Challenges: †¢ Practicality smaller computer integrated replacement of projector combiner. †¢ Purchase patent or license. †¢High costs. †¢ Very small cameras and projectors CHAPTER 5 : MUTUAL TELEXISTENCE: Chaitanya Institute of Engineering & Technology Page 9 OPTICAL CAMOUFLAGE CHAPTER 5. 1 :How mutual telexistence works: Chaitanya Institute of Engineering & Technology Page 10 OPTICAL CAMOUFLAGE †¢ Human user A is at one location while his telexistence robot A is at another location with human user B. †¢ Human user B is at one location while his telexistence robot B is at another location with human user A. à ¢â‚¬ ¢ Both telexistence robots are covered in retro-reflective material so that they act like screens. With video cameras and projectors at each location, the images of the two human users are projected onto their respective robots in the remote locations. †¢ This gives each human the perception that he is working with another human instead of a robot. †¢ Right now, mutual telexistence is science fiction, but it won't be for long as scientists continue to push the boundaries of the technology. CHAPTER 6 : REAL WORLD APPLICATIONS: Chaitanya Institute of Engineering & Technology Page 11 OPTICAL CAMOUFLAGE †¢ Doctors performing surgery could use optical camouflage to see through their hands and instruments to the underlying tissue. Providing a view of the outside in windowless rooms is one of the more fanciful applications of the technology, but one that might improve the psychological well-being of people in such environments. †¢ Pilots landing a plane could use t his technology to make cockpit floors transparent. This would enable them to see the runway and the landing gear simply by glancing down. †¢ Drivers backing up cars could benefit one day from optical camouflage. A quick glance backward through a transparent rear hatch or tailgate would make it easy to know when to stop.CHAPTER 7 : OPTICAL CAMOUFLAGE SEEN IN: ? Ghost in the Shell. ? 2000 video game Deus Ex. Chaitanya Institute of Engineering & Technology Page 12 OPTICAL CAMOUFLAGE ? 2002 James Bond movie Die Another Day ? Metal Gear Solid and Halo video game series. ? The video game Phantom Crash. ? The Predator movie. CHAPTER 8 : ADVANTAGES & DISADVANTAGES ADVANTAGES: Chaitanya Institute of Engineering & Technology Page 13 OPTICAL CAMOUFLAGE ? Optical Camouflage can be used on surgical globes or equipments so they don’t block surgeon’s view during delicate operations. ?In aviation, cockpit floors could become ‘invisible' to assist pilots during landing. DISA DVANTAGES: ? The weak point of this technique is that the observer needs to look through a half-mirror. ? The current system needs a half-mirror and projectors, which were fixed on the ground. CHAPTER 9 : CONCLUSION: Now all of us have had a small tour of the interesting world of optical camouflage. A lot of interesting thing have been done and already we have seen that anyone can be almost invisible Chaitanya Institute of Engineering & Technology Page 14 OPTICAL CAMOUFLAGE ith this technology. Though we are still facing challenges with practicality, licensing and high costs the future promises us a lot more. To make an object literally vanish before a person's eyes, a cloak would have to simultaneously interact with all of the wavelengths, or colours, that make up light. That technology would require much more intricate and tiny meta-material structures, which scientists have yet to devise. Research work is going on and soon we will have even more astonishing results. 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