Thursday, December 26, 2019

Analysis of The Hapiness Conspiracy and Fahrenheit 451

Happiness is a reprise from the many trials and turmoil of life, and so it is natural that we should actively seek it. Ironically though, in our naà ¯ve belief that we can somehow augment the amount of happiness in our world, we are actually making our world more depressing to live in. Both John F. Schumaker, in The Happiness Conspiracy, and Ray Bradbury, in Fahrenheit 451, argue that our myopic pursuit of happiness is actually counterproductive. The two authors attempt to persuade the reader that happiness is, and should be, an almost-serendipitous byproduct of a truly fulfilling life, and therefore should not be an explicit objective. In his essay, Schumaker discusses how our lives have devolved to being merely means to an end. We do†¦show more content†¦Schumaker argues that in the â€Å"modern consumer society,† the bar has been set so high that it is virtually impossible to surpass it, and further, as stated by the law of diminishing returns, if we continue on our current trajectory, we will soon find ourselves gloomier than ever. Like Schumaker, Bradbury also believes that our society is too obsessed with eliminating the negatives in life, and establishes that this is a ruinous endeavour through an absence of evidence argument. In the utopian world that he describes in his novel Fahrenheit 451, that critical point at which society is so perfect that genuine happiness, a term that is necessarily defined by its antithesis, depression, becomes meaningless, has already been reached. The intention of the fictional authorities is ostensibly to satisfy the population — as Captain Beatty tells Montag, â€Å"[they’re] the Happiness Boys, the Dixie Duo† (61) — but as a direct result of these efforts, anything remotely controversial or that could bring about dissent is destroyed, and happiness, emotions, and life in general loses its meaning. Bradbury describes several situations in which this is the case. Relationships, both platonic and intimate, are a significant part of a satisfying and h appy life on our world, but in Montag’s, they exist only in writing. Montag’s wife Mildred shuns her real family and much prefers instead to

Tuesday, December 17, 2019

Research Paper-Family Life 1930s - 833 Words

Family Life in the 1930’s As the roaring twenties captivated the lives of American families with its great profits, big business, and optimism, the thirties altered the nation’s economic dreams, values, fashion, and everyday life. After ending an abundant decade in the twenties, the 1930’s brought forth pain, poverty, and hardships. Because of the stock market crash in the late 1920’s, it strongly affected families in the 1930’s in many ways. Everyday life was profoundly affected by the hard times. Marriages were delayed; birth rates dropped, contraceptive sales soared, and divorce rates were down (Reeves 115). Families at this time knew that money was not readily available, so getting married or having more children was not†¦show more content†¦At this point in time women opted for a more feminine and practical image than in the days of the flapper. Skirt length fell well below the knee, busts and waists reappeared, and hair styles became softer and more graceful (Reeves 118). Women often smoked cigarettes, drank, and gambled with men in public. Women, for the first time, wore slacks, revealed bathing suits, and participated in sports such as softball, roller skating, and bicycling (Reeves 115-116). TheseShow MoreRelatedAshford 4: - Week 3 - Assignment1335 Words   |  6 PagesFinal Paper Preparation This assignment will prepare you for the Final Paper by initiating the research process and helping you map out specific events and developments which you will explore in depth in your paper. Review the instructions for the Final Paper laid out in Week Five of the online course or the Components of Course Evaluation section of the Course Guide before beginning this project. Note, that for the Final Paper you will need to discuss at least six specific events or developmentsRead MoreRole Of Women During The 1930 S South And The Women 1156 Words   |  5 PagesRole of Women in the 1930’s South And the Women in To Kill a Mockingbird How would you feel if you were a woman that lived in the harsh 1930’s? A woman’s life was very hard, and some people wanted it to change in real life and the book. Scout and the married women in To Kill a Mockingbird are pushed by the men to work hard everywhere without a reward. Women had many responsibilities at home and also when they were working. Women were expected to be a housewife and working parent. Women believedRead MoreTechnology During The 20th Century1146 Words   |  5 PagesJillian Garrett History 1493 Professor Hanshew 19 June 2015 Research Paper Technology in the early 20th century grew quickly and brought many changes to life both at home and in work. Automobiles, home appliances, and entertainment changed how Americans spent their time and money. During the early to mid-20th century America went through an economical depression, two wars, and recessions, this caused many Americans to go through stages of poverty, fear, and wealth. The advancement of technologyRead MoreAbraham Maslow, The Oldest Son Of His Parents1401 Words   |  6 Pagesstudying, or working to help his family make ends meet. Therefore, he relied on books to provide an escape. Through his exploration of books, he became greatly interested in research done by greats such as Pavlov, Jung, and Freud. Maslow thought he needed to impress his father by studying Law, and enrolled in City College of New York (CCNY). Soon he could fight against his own desires and went against his parents wishes on, not only one, but two aspects of his life. He first decided to go study PsychologyRead More Albert Einstein Essay1645 Words   |  7 Pagesmediocre minds. There are two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle. Albert Einstein was the first child born to Hermann and Pauline Einstein, Jewish, middle-class Germans, on March 14, 1879 at Ulm, in Wurttemberg, Germany. Alberts sister, Maria, was born in November of 1881. They remained close throughout their lives.Einstein and sister 1 The Einstein family moved to Munich in 1880 to start their own businessRead MoreActive Euthanasia Pros and Cons Essay1640 Words   |  7 Pagesvalid points morally and ethically. The Netherlands have had euthanasia laws in effect since 1973. America has very few states with legislation on the books: Oregon enacted in 1997, Washington 2008. Germany experimented with Active Euthanasia in the 1930’s, resulting in one of the most horrendous genocides in the past millennium. No where else do we have a cohort more at risk than the elderly, as they fall prey to the pressures of getting out of the way, and with a burgeoning population of baby boomersRead MoreThe Indian Act1558 Words   |  7 PagesIntroduction: The Indian Act was first proposed in 1876. The Indian Act was mainly used as a way for the federal government to control aspects of Native American lives. During the 1880’s the federal government told Indian families that if they wanted their children to have an education, it was to be done under them. These institutions would be known as Residential Schools. Residential Schools were not good for the Native Americans due to the education being taught was there to â€Å"take away† the IndianRead MoreThe Life of Albert Einstein837 Words   |  4 Pageswill be fought with sticks and stones.† - Albert Einstein After World War 2 Albert Einstein was a major leading figure in the World Government Movement. He was offered the presidency of Israel, but he declined. During the start of his scientific life, Einstein realized the inadequacies of the Newtonian Mechanics and his special theory of relativity stemmed from an attempt to reconcile the laws of mechanics and laws of the electromagnetic field together. He received an honorary doctorate degreesRead MoreLincoln s Representation Of Lincoln1640 Words   |  7 Pagesbeen a scant amount of research on how Abraham Lincoln has been illustrated in motion pictures. Yet, movies have a dominant clout on how Lincoln’s images has been established in American popular culture. Movies such as Birth of a Nation, Young Mr. Lincoln, Abe Lincoln in Illinois, and Lincoln have given audiences different glimpses of the sixteenth president. The legend of Lincoln has been created and altered in film in oder to create a hero to fit the times. This paper will focus on â€Å"Lincoln†Read MoreBiblical Allusions to The Grapes of Wrath Essay example1457 Words   |  6 Pagesin 1937, which established his reputation as a forceful writer. In 1939 he wrote The Grapes of Wrath, which summoned up the despair and hardship of the early 1930s. John Steinbeck died in 1968. The Grapes of Wrath is a story about one familys hardship during the Depression and the Dust Bowl of the 1930s. The Joads were a hard-working family with a strong sense of togetherness and morals; they farmed their land and went about their business without bothering anyone. When the big drought hit it forced

Monday, December 9, 2019

Market Analysis free essay sample

Market Analysis of NASCAR As noted from different articles about how NASCAR industry is functioning, this memo will examine the strengths and weaknesses of NASCAR, its website and further discuss environmental forces and finally present the marketing plan to attract females. Strengths of Brand Management Fans’ Accessibility of NASCAR Drivers One major reason that NASCAR has been really successful in recent years is because of their loyal fans. In order to attract more fans each year, NASCAR market sport car races via fans’ favorite drivers, presenting racing drivers in a way that both casual and royal fans can connect, relate and develop special bonds. NASCAR drivers are known as â€Å"media savvy, fan friendly marketing machines. † Willingness to Change NASCAR has operated as a family owned business venture, however, now it has become a multi billion car racing business. One reason behind the success is how NASCAR is able to identify the changes that are needed to make in order to stay in top of business. When a college drop out, Brian France, took over as an CEO of NASCAR from his family, he had a vision of how 190 mph racing sport could potentially become a big money sports like football. Therefore, he started introducing changes. First, he borrowed the model that football and baseball were using and integrated into NASCAR. Strategic changes, such as, introducing different mix of new car brands (Toyota) into NASCAR along with bringing in drivers from F1 Racing and other minorities groups have further strengthened the brand of NASCAR and attracted fans from all over the world. Having different race teams, adding more tracks in different cities add additional flavors and grow the competitiveness of racing in tracks. Weaknesses of Brand Management Inability to Keep Royal Fans NASCAR is gradually losing the interest of racing fans because of their inability to bring competitiveness edge from drivers. Even though cars are getting faster and faster each year, NASCAR royal fans acknowledged the fact how the art of racing is falling apart. For instance, nowadays it is almost impossible for unknown and unproven driver to seriously contend for championship because of lack of sponsorship and trust. Fans can expect who will be winning the championship even before the race starts. In addition, NASCAR is adding more and races in different city each year. Because of many car racings, fans are losing their interest, attendance in each race is slowing down and finally TV ratings are falling apart. Strength of Website Offering customized different gears, hats, via drivers’ names, giving the customers a chance to choose which product they like most. Easy access while visually appealing products are displayed and easy checkout with showing which products are available for standard shipping Organized products by different categories and gender Providing customers’ ratings in each item Integrate together with latest news, drivers’ standings and different teams Social media tools are displayed effectively Weakness of Website Lack of memorable photos from Racing Legends Lack of products that are signed by NASCAR drivers Limited photos, could add photos taken from different angels No option to see recently viewed items No section for favorite and best selling items Environmental Forces Economic Downturn NASCAR is known as â€Å"middleclass sport†, therefore, when America faces recession in recent years, the number of NASCAR viewers decline while saving up for essential goods. During recession, there are less people attending car races and TV ratings are all time low. Big sponsors are also pulling their investment away from business because of the lack of interest in sports. Same sponsors are spending less money on everything they do†, quoted by Richard Childress Racing. Since there is less money for customers to spend, customers will carefully choose necessary vs. luxurious goods. Influence of Competitors The main competitors for NASCAR are other big money sports, such as, football, baseball, hockey, and basketball. Since other sports leagues are also trying to maximize their sport market shares, if NASCAR lost his competitive advantage, sports fans will walk away from car racing and will not spend on NASCAR related goods. F1 racing can be considered as NASCAR’s international competitor. F1 influenced more in European countries and other parts of the world while NASCAR is dominating in America’s car racing. Political and Cultural Forces NASCAR can experience huge loss if their main sponsors are sanctioned due to political and cultural issues. For example, when tobacco companies were forbidden by the Federals from advertising at sports venues and during broadcasts, marketing departments at NASCAR quickly sought new sponsors such as Sprint, Coca cola, to keep their sport alive. If not, racing teams will have insufficient funds to compete. Marketing Plan for Attracting Females Finding more Female Drivers In order to attract more females NASCAR, there is an urgent need to find more female drivers competing in highest level. Car racing should not be limited by gender, even though there is a promising number of females in NASCAR today, adding more females drivers will catch the attention of female viewers and draw them into sports. Appointing Female NASCAR Ambassadors More often than not, there are many female models taking photos during NASCAR races. However, one way to reach females’ market is in fact having current female drivers as the brand ambassadors and gets the message across to the rest of female population. They will help bridge and spread the knowledge of NASCAR. Create a Media Buzz in Social Media Nowadays, social media plays a central role in advertising. Creating a media buzz will attract a lot of attention to females. In fact, identifying a NASCAR driver who is an alpha dog, a polarizing and controversial figure, similar to Tim Tebow will surely create a media buzz and finally lure females into NASCAR.

Monday, December 2, 2019

Theoretical Reflections of The virtual Child free essay sample

Course Description The final field placement experience will provide an opportunity for students to consolidate their learning from the previous three semesters of study and purport their acquisition of the knowledge, skills and attitudes needed to make a successful transition from college to the workplace. Students who have reliably demonstrated excellence in their previous field placement experiences and academic studies, as determined by faculty, may opt to complete placement in a specialized setting. Others will have the opportunity to work in a preschool childcare setting.Faculty supervisors, through their observations of students in action with the children, will support students as they engage in the process of reflective practice to deepen their knowledge ND understanding of their accomplishments and future goals. Final grades will be assigned based upon the competencies and grading system outlined in the field manual. Course Learning Outcomes The student will reliably demonstrate the ability to: The learning outcomes, which are based on SAC standards, are expressed as competencies in the Field Practicum Manual. We will write a custom essay sample on Theoretical Reflections of The virtual Child or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Each competency specifies the role performance. Essential Employability Skills (SEES) 1 . Communicate clearly, concisely, and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. . Use a variety of thinking skills to anticipate and solve problems. 3. Locate, select, organize, and document information using appropriate technology and information systems. 4. Analyze, evaluate, and apply relevant information from a variety of sources. 5. Show respect for the diverse opinions, values, belief systems, and contributions of others.Prior Learning Assessment Recognition (PLAN) Process(sees): Assessment format is to be determined by the subject matter experts. Applications for PLAN should be completed prior to commencement of the semester of study. Please see the Centennial College Calendar Handbook for more details. Text and Other Instructional/Learning Materials Final Field Evaluation Manual 1st Edition Evaluation and Grading System Evaluation Description Weight ,100 Final grades will be assigned based upon the competencies and grading system outlined in the field manual. A minimum grade of C is needed to be successful in the course.In consultation with the Chair or Dean, a faculty member or instructor may administer additional or alternative evaluations to fully assess the capability of a student. When writing a test or examination, students must put their official photo-ID cards in full view for review by the invigilator. Students who do not have official photo-ID will be permitted to write the examination with a substitute photo-ID, but they will be required to produce photo-ID at the program or department office within 24 hours or the next business day following the examination, or else the examination results will be vo id.Student Accommodation: All students have the right to study in an environment that is free from discrimination and/or harassment. It is College Policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include changes or modifications to standard practices. This document is available in alternative formats upon request. Please contact the originating department or school of study. Students with disabilities who require academic accommodations must register with the Centre for Student with Disabilities.Please see the Centre for Students with Disabilities for details. Students requiring accommodation based on human rights grounds should talk with their professors as early as possible. Details are available on the Centennial College website (www. Counterintelligence. Ca ). If students are unable to write an examination due to a medical problem or unforeseen family problems, they should immediately contact their professor or program Chair for advice. In exceptional and well-documented circumstances (e. G. Unexpected family problems, serious illness, or death Of a close family member), students should be able to write a make-up examination to replace an examination missed. Use of Dictionaries Dictionaries may be used in field placement. Course, Program or School Policies Students should familiarize themselves with the College Policies that cover students rights, responsibilities and the Academic Appeal process. For further information consult the Academic Matters Section in the full-and continuing education calendars.The Academic Appeal Application form is available from any Registrars Office. Cell Phones: Cell phones and Blackberries MUST be turned off in field placement. Please refer to the ICE Student Handbook and the Field Placement manual for specific details related to Policies and Expectations in Early Childhood Education Student Rights and Responsibilities Students should familiarize themselves with all College Policies that cover students rights and responsibilities. For more information on the following and other policies, please visit womb. Counterintelligence. A/about/respect or consult the Academic Matters Section in the full-time and Continuing Education catalogues. Respect at Centennial At Centennial College, we are committed to providing a safe and respectful learning, teaching and working environment for all students, faculty and staff that promotes equity. Policies have been put in place to ensure that Centennial is a place that demonstrates respect and consistency with the Ontario Human Rights Code. All incidents of harassment, discrimination, bullying and violence will be addressed and responded to.As a college, we take the position that all forms of harassment, including personal harassment and bullying, must be stopped. Please refer to www. Counterintelligence. Ca/ about/respect and www. Stonewalling. Ca. Academic Honesty Academic honesty is integral to the learning process and a necessary ingredient of academic integrity. Students have a responsibility to be aware of ND comply with standards of academic conduct. Academic dishonesty includes cheating, plagiarism, and impersonation. All of these occur when the work of others is presented by a student as their own and/or without citing sources of information. Breaches of academic honesty will be investigated and if warranted appropriate remedies and penalties will be applied, which may include a failing grade on the assignment/course, suspension or expulsion from the college. Grades Appeal Students and faculty have rights and responsibilities in the Grades Appeal process. Students who need to appeal a grade should consult the Grades Appeal policy and procedures.Progression and Academic Standing Students are expected to meet the academic standards of their School or program. The academic standing of each Centennial student is monitored during as well as at the end of each semester. Any student not demonstrating satisfactory progress will be informed of his/her standing in the College and will receive academic advising within their School. Unsatisfactory academic performance may result in conditional academic standing, probation or suspension. Faculty Support Professors are available to see students outside of class time.

Tuesday, November 26, 2019

Hind and Behind

Hind and Behind Hind and Behind Hind and Behind By Mark Nichol This post discusses the words in which the element hind, pertaining to location or movement in or to the rear, appears. The adjective hind means â€Å"back† or â€Å"rear.† Hindbrain refers to the rear part of the brain. Hindquarters denotes the rear part of a four-legged animal, though the term is sometimes used informally in place of â€Å"buttocks,† and a hind shank is a cut of meat from the upper part of an animal’s hind leg. (Heinie, and its alternate spelling, hiney, are slang terms for the buttocks.) To hinder is to hold or keep back, and something that does so is a hindrance. (Hinder is also a comparative of the adjective hind, meaning â€Å"more behind.†) Hindmost is a synonym for last, seldom used but widely known from the expression â€Å"The devil take the hindmost.† Hindsight means â€Å"perception of an event after it occurs† and is usually seen in the phrase â€Å"in hindsight† or in the expression â€Å"Hindsight is twenty-twenty,† which means that one’s vision is clear (at 20/20 acuity) in retrospect because it is easier to analyze and judge an event after the fact than before it occurs. Hinterland, taken directly from German, means â€Å"back country,† connoting an area far inland or remote from urban areas. Behind stems from the Old English adverb and preposition behindan, meaning â€Å"after† or â€Å"at the back of†; the first syllable means â€Å"by,† and hindan means â€Å"from behind.† The compound behindhand, serving as an adjective and an adverb, means â€Å"in a backward state† (of development or thinking) or â€Å"in the rear†- or, perhaps formed on the model of beforehand, â€Å"unable to pay.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Wether, Weather, WhetherProbable vs. PossibleIf I Was vs. If I Were

Saturday, November 23, 2019

3 Cases of Intrusive Punctuation Before a Quotation

3 Cases of Intrusive Punctuation Before a Quotation 3 Cases of Intrusive Punctuation Before a Quotation 3 Cases of Intrusive Punctuation Before a Quotation By Mark Nichol When an introductory or attributive phrase ending in a verb precedes one or more complete sentences enclosed in quotation marks to express something written or said, a comma separates the phrase from the quotation- for example, â€Å"The conventional wisdom is, ‘Trust, but verify,’† or â€Å"I replied, ‘Go for it.’† But if the quotation is incomplete or is complete but is incorporated into the syntactical flow of the sentence, generally, no punctuation should intervene, as explained in the discussions and shown in the revisions following each example below. 1. The reporter who wrote both articles said that, â€Å"the company never asked for a correction.† When a sentence ends in a partial quotation and is syntactically structured so that the quotation is grammatically integrated into the sentence, no intervening punctuation (and no initial capitalization) is necessary: â€Å"The reporter who wrote both articles said that ‘the company never asked for a correction.’† (Alternatively, the sentence can be revised to consist of an attributive phrase followed by a quotation consisting of one or more complete sentences: The reporter who wrote both articles said, â€Å"The company never asked for a correction.†) An exception to the no-punctuation rule is if the punctuation is grammatically required- for example, because of an intervening parenthesis, as in â€Å"The reporter who wrote both articles said that, as far as he knows, ‘the company never asked for a correction.’† (In this case, the implied quotation, though the person of course did not literally say as far as he knows, starts with that phrase.) 2. The magazine famously dubbed the 2003 flick, â€Å"The Citizen Kane of bad movies.† The phrase preceding the quotation is not attributive, and as in the previous example, the entire sentence constitutes a grammatically complete statement, so the comma is intrusive: â€Å"The magazine famously dubbed the 2003 flick â€Å"the Citizen Kane of bad movies.† (Again, note that because the quotation is a partial sentence, the first word should not be capitalized.) 3. Such cases leave us shaking our heads and asking the rhetorical question, â€Å"What were they thinking?† This sentence suffers from the same obstructive punctuation, with the additional fault of implying, by setting â€Å"rhetorical question† off from the question with a comma, that the sentence is restrictive- that the question is not a rhetorical question but the rhetorical question: â€Å"Such cases leave us shaking our heads and asking the rhetorical question ‘What were they thinking?’† (Alternatively, simply omit the extraneous phrase and write, â€Å"Such cases leave us shaking our heads and asking, ‘What were they thinking?’†) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:12 Signs and Symbols You Should KnowDoes "Mr" Take a Period?45 Idioms with "Roll"

Thursday, November 21, 2019

Homeopathy Essay Example | Topics and Well Written Essays - 2500 words

Homeopathy - Essay Example Conventional medicine is the system being practiced by medical degree holders such as medical doctors and the medical practitioners who work with registered nurses, therapists, and psychologists. It is also referred to as mainstream medicine, or "regular" medicine. Complementary medicine, when practiced alone, is used along with conventional medicine to supplement the latter. An example of complementary medicine is the intake of plant extracts and juices believed to have extraordinary therapeutic effects to supplement conventional medicine. The use of alternative medicine, on the other hand, most of the time replaces conventional medicine. For example, a cancer patient may choose to engage in a series of practices including diets and supplements instead of going through the methods of conventional medicine which may include surgery and chemotherapy. Integrative medicine is defined as a practice that "combines mainstream medical therapies and CAM therapies for which there is some high -quality scientific evidence of safety and effectiveness" (NCCAM 2006). For some, the combination of mainstream medical therapies and CAM therapies is best than depending on a single ttype of therapy. Lastly, Complementary and alternative medicine, or CAM, is "a group of diverse medical and health care systems, practices, and products that are not presently considered to be part of conventional medicine" (NCCAM 2006). It is a movement that is seeking ways to treat illness with minimal disruption of the internal environment of the body. A more organized and established example of alternative medicine is the practice of homeopathy. This form of alternative healing, which dates back to 200 years ago, uses a different approach in diagnosing and treating medical conditions. It is primarily based on the Law of Similars which promotes curing "like with like" which means that "small, highly weak & diluted quantities of medicinal substances is given to treat symptoms, but when the same substances are given at higher or more concentrated doses would actually cause those symptoms in patient" (Weiner & Goss 6). Homeopathy is one among the many approaches to complementary and alternative healing. Its increasing popularity over time and its worldwide success indicate that like most approaches to health care, it should be chosen with considerable care, and considered only as an alternative should other approaches to healing such as "conventional medicine" have proven unsuccessful. There are however some doubts on the usefulness and affectivity of the practice of homeopathy. The modern medical practice as we know it is well founded on scientific studies and proofs. There is a growing trend in modern society to seek natural healing treatment for various illnesses that plague mankind. Homeopathy, despite considered to be unscientific by some, is one of those CAM that society is willing to try. The main reason is the that modern medicine, which is based on pharmaceutical products, do not address all the concerns of the ailing public. People want more preventive and natural remedies and don't want to become human experiments for pharmaceutical drugs. Most pharmaceutical products have harmful side effects, sad to say, some of these side effects

Tuesday, November 19, 2019

Discussion 4C Assignment Example | Topics and Well Written Essays - 250 words

Discussion 4C - Assignment Example It is important for people working together to get along at their work places as they require each other at some point during work. When people get along in workplaces, it is easier and faster for them to help each other finish tasks and deal with deadlines. The video is about a talk on email etiquette and how the email works. It was good to learn the don’ts involved when sending a single mail to multiple people. I also learned that I can be in a position to prevent computer viruses spread through emails. An important lesson learnt from the video is that it is valuable to respect other workers whom you working with. The times when an individual does not feel like working should be spent outside the office rather than making noise for others. It is important for people working together to respect each other. Hacking into people’s machines and emails to get vital, and secretive message is one of the risks of electronic communication. Sensitive information meant for specific individuals could get into the wrong

Sunday, November 17, 2019

Competition Bikes, Inc. (CBI) Financial Analysis Report Essay Example for Free

Competition Bikes, Inc. (CBI) Financial Analysis Report Essay In order to determine a company’s performance, analysis must be done for key metrics, including the ability to pay debts, how much cash or other liquid assets are available, and the company’s viability to continue operations. These analyses involve the review of income statements and balance sheets, where current and past performance will be studied with the goal of predicting how the company will perform in the future. Upper-level management at CBI can use this information to make decisions in line with the company’s goals. This report for CBI will include four sections. First, I’ll analyze the company’s financial strengths and weaknesses by doing a horizontal analysis, vertical analysis, trend analysis, and ratio analysis of CBI financial results for years 6, 7, and 8. The second section will include an analysis of the company’s working capital, including suggestions on ways to improve working capital and use excess working capital to increase profits. The third section will note any weaknesses in the company’s internal controls, and how those can be corrected. The fourth and final section details Sarbanes–Oxley requirements and how the company can mitigate risk and ensure compliance with the requirements within that legislation. A1a. Horizontal Analysis Horizontal analysis is defined as the â€Å"comparative study of a balance sheet or income statement for two or more accounting periods, to compute both total and relative variances for each line item† (businessdictionary.com, n.d.). For CBI, we will be comparing years 6 and 7, then years 7 and 8. This will allow us to gauge the performance over a three year period of time to see if the organization’s business is rising, staying steady or falling. Net sales for CBI products increased 33.8 percent between years 6 and 7. This is a sign of strength for the company and a signal that their bikes are well received by customers. However, net sales dropped by 15% between years 7 and 8. This is a weakness for CBI, as net sales affect the bottom line, and they will have to find a way to make up for this sales shortfall elsewhere in their budget (such as cutting expenses). This shortfall is due to the fact that the niche market that purchases the majority of the bikes, professional riders, experienced a reduction in sponsorships due to the economic situation. Therefore they purchased fewer bikes than in previous years. The company expects to recover from the current year sales decline within three years. The cost of goods sold includes all direct costs attributable to the production of goods sold by the company. Cost of goods sold and sales revenue move in tandem. In this case, the cost of goods sold increased 31.8 % between years 6 and 7. The cost of goods sold increase was slightly lower than the net sales increase of 33.3%, which is a sign of strength for CBI as it indicates that management is doing a good job keeping production costs at a manageable level. In years 7 and 8, the cost of goods sold decreased by 14.5%, which is similar to the decrease in net sales, down 15% in that same time period. Gross profits, which is net sales less the cost of goods sold, increased by 37.5% between years 6 and 7. This is a strength for CBI. An increase such as this signals that management has made a strong commitment to growth while at the same time controlling the operational and production costs. Gross profit was down by 16.3% between years 7 and 8. This is a result of falling sales in the current year. Under General and Administrative expenses, there are two areas of interest that warrant further analysis executive compensation and utilities. Executive compensation rose by 29.4% in years 6 and 7, which makes sense given the strong sales increase during that period. Executives made good business decisions during this time and should be compensated for these results. However, executive compensation stayed flat during years 7 and 8. Granted, sales and profits were down for the year, so a large increase would not be warranted. However, no increase in compensation could be considered a weakness for CBI, as salaries and compensation are a significant tool to keep talent. Morale may suffer if after a year’s worth of hard work, they get no increase at all. Utilities were up a modest 3.8% between years 6 and 7, with an increase to 11% between years 7 and 8. With CBI building fewer bikes in year 8, a reasonable assumption is that utility usage would decrease also. Therefore this increase in utilities should be examined further. Some of this increase could be beyond CBI’s control (such as rate adjustments by the utility company) but a couple of options for the company to explore to manage this expense and be more efficient would be an energy audit, and/or negotiating with the utility company to pre-pay their utilities for a certain time period to get a discount. Operating income is the amount of profit realized from operations after removing operating expenses such as the cost of goods sold and employee salaries. For CBI, operating income increased strongly (154.6%) between years 6 and 7. However, operating income between years 7 and 8 is strongly negative, with a 69.1% decrease. This is due to the fact that gross profits dropped by 16.3% during this time period, but total operating expenses decreased by only 3.6%. This is not sustainable over the long term and is a weakness for CBI. They need to reduce their production expenses wherever possible, become more efficient in their operations, and find ways to increase sales revenue – ideally, a combination of these. The last item on the income statement is net earnings – the so-called ‘bottom line’ both as a reference to its position on the income statement, and a reflection of the fact that total revenues minus total expenses. CBI’s net earnings rose a remarkable 313.4% between years 6 and 7, which is a reflection of the fact that profits grew at a much higher rate than expenses during that period. Net earnings declined by 81.6% between years 7 and 8, which is due to total revenues dropping to a greater extent than total expenses. This is a weakness for CBI as it is not sustainable for long before the company runs out of money. As mentioned previously in the operating income section, this is an issue that CBI’s management team must address if they want to stay in business. Cash and cash equivalents declined 64.6% between year 6 and year 7. This is a weakness for CBI, particularly in light of the fact that sales were up during that period. The company should have more cash or cash equivalents on hand, not less. In years 7 and 8, cash and cash equivalents increased by 348.2% this during a period where net sales were down by 15% compared to the previous period. While this appears on the surface to be a positive – as cash and cash equivalents help with the company’s liquidity – it can actually be interpreted as a weakness as CBI’s large amount of cash and cash equivalents may make some analysts question the company’s ability to manage their cash flow in a way that maximizes profits and efficiency. CBI’s accounts receivable, which represents money owed to them by their customers, increased by 164.3% in years 6 and 7. While accounts receivable are classified as assets, this is a potential weakness for CBI as it signals that a lot of the assets they are claiming on the balance sheet are tied up in receivables that are not as liquid – they have not yet received payment. Accounts receivable was -15% in years 7 and 8. This reduction is a strength for CBI as it signals that they are improving their cash flow by more effectively collecting money owed to them. The large scale change in numbers year over year for both cash/cash equivalents and accounts receivable at CBI signal volatility year over year. This could be a red flag for investors looking for consistent levels of performance. CBI also might find it difficult to continue to hire the best salespeople, who work on commission and are likely looking for a company with solid sales that will provide a steady paycheck. Total current assets, or those that are reasonably expected to be converted to cash within one year in the course of business, include cash, inventory, accounts receivable, marketable securities, prepaid expenses and other liquid assets. CBI’s current assets rose 31.5 percent from year 6 to year 7. Growth in current assets is generally regarded as a strength and a sign the company is growing. However the picture changes when current liabilities for the same period are analyzed, which I will do in the next section. Total assets represent total current assets plus net property and equipment and give a complete picture of all short term and long term assets. Total assets for CBI increased by 2.2% between years 6 and 7, due in large part to the large increases in accounts receivable and work in process inventory. When a large amount of accumulated depreciation was factored into assets, it brought the total assets figure down substantially. Between years 7 and 8, total assets decreased by 0.2%. After reviewing the balance sheets I noted that while current assets decreased substantially between years 6 and 7, then 7 and 8 (down 15%), long term assets stayed flat (down 0.5% over the same period). Overall, assets, liabilities and stockholder’s equity were all down between years 6 and 7. This is a weakness for CBI as investors will review these negative numbers and question the company’s ability to be profitable and grow. Total current liabilities are debts that are due within one year in the course of business. They include accounts and notes payable, accrued salaries, and other accrued expenses. Current liabilities increased by a whopping 122.4% between years 6 and 7, largely in part to the large increase (192%) increase in accounts and notes payable. Between years 7 and 8, accounts and notes payable increased by 33.3%.This is a serious weakness for CBI, as it signals that they are taking on a disproportionate amount of debt compared to their sales growth rate. CBI would need to generate substantial sales increases in future years to pay the interest on this debt and continue to cover their expenses. The fact that total current liabilities continue to trend upward year over year while sales actually went down between years 7 and 8 is a warning sign. CBI could have trouble meeting its debt obligations (and getting any further funding from creditors) if sales are flat or continue to trend downward. Total long term liabilities – those that come due more than one year in the future – are holding steady at CBI, decreasing 5.6% between years 6 and 7, and decreasing by 5.9% between years 7 and 8. This is a sign of strength for CBI as it shows they are managing their long term debt responsibly. Retained earnings represent the amount of assets created through profits that are retained in the business and are part of owner’s equity. Retained earnings increased by a healthy 17.4% between years 6 and 7, which makes sense given the strong sales results. Retained earnings rose by only 2.7% between years 7 and 8, which is not surprising in light of the fact that sales are down in the current year. This decrease is a weakness for CBI, as retained earnings is part of stockholder’s equity. Those invested in the company (or those considering doing so) will note the sharp decrease in funds available for reinvestment in the company and possibly question the prospects for growth unless the company can turn things around quickly. A1b. Vertical Analysis Through a vertical analysis, we review entries for assets, liabilities and equities. These are represented as a percentage of the totals for any given year. The main advantage of a vertical analysis is that it is easy to read, clearly understandable and charts changes in the operations of a business on a yearly basis. By reviewing vertical analysis data, a person can see financial performance over a set period of time. Cost of goods sold decreased from 73.4% of net sales in year 6 to 72.6% in year 7. This is a strength for CBI because a reduction in CGS leads to higher profit. This is evidence that management is doing a good job controlling product costs. In year 8, CGS increased slightly to 73% a minor increase but this could be considered a weakness for CBI as it signals that the costs to produce their bikes are going up. Gross profit was 26.6% of net sales in year 6, and increased to 27.4% in year 7. This is a strength for CBI as it signals that the company is doing a good job of selling their product and keeping costs at a manageable level. In year 8, Gross Profit dipped slightly to 27%. This is because the cost of goods sold went up slightly during this time, and sales were down. A gross profit reduction is normally a weakness; however, in light of the 15% decrease in sales in year 8, the fact that gross profit only decreased by 0.4% from the previous year should be considered a strength for CBI as it indicates that the company has minimized the impact of the sales downturn on their gross profit margins. Upon reviewing the general and administrative expenses, all of the line items followed the trend of decreasing as a percentage of the total in year 7, and then increasing as a percentage of the total in year 8. This makes sense given that these expenses are part of the cost of goods sold figure. One example is the ‘Other general and admin expenses’ which was 2.7% of the operating expenses total in year 6, decreasing to 2.6% in year 7 and then increasing to 3.3% in year 8. While these make up small percentages in the company’s overall operations budget, this is a weakness for CBI, as these types of expenses should not be going up if there are not sufficient sales to support the increase. CBI management should keep an eye on these expenses to ensure they do not creep up year over year, which would have a negative effect on their profit margins. When looking at the individual numbers, for example administrative salaries, we see that there is no change in the percenta ge of the total between year 7 and year 8. Administrative salaries did not increase at all in year eight, and neither was executive compensation. This could be a weakness from an employee morale standpoint, as they worked hard all year and did not see any raise in their pay. However, this data is not surprising given the difficult economic conditions in year 8. There was a purchase of 25,000 shares treasury stock in year 7, and it’s possible that management offered this stock to employees in lieu of a pay increase. Operating income was 2.8% of the total in year 6, increased to 5.3% in year 7 and decreased to 1.9% of the total in year 8. The decrease in year 8 is largely due to the increase in operating expenses, which factors into the operating income equation. The fact that CBI’s operating expenses are trending up year over year without accompanying sales increases is a negative trend for CBI and should be considered a weakness. This is something the company’s management should be monitoring closely and taking action to control expenses and promote sales. Net earnings were 0.9% of the total in year 6, rising to 2.8% in year 7 (not surprising given the increase in sales) and decreasing to a three year low of 0.6% in year 8. Since this bottom line number is a key indicator of a company’s profitability, this decrease should be something that the company’s management should make a top priority to fix. Cash/cash equivalents were 6.2% of total assets in year 6, decreasing to 2.2% in year 7. This is a weakness for CBI as this is a sign that the company may have trouble paying their debts and expenses. In year 8 this figure improved substantially to 9.7% of total assets. However, the company needs to make sure they are not sitting on too much cash, but investing it to grow the company and maximize profits. Accounts receivable represented 6.5% of total assets in year 6, and increased dramatically to 16.7% in year 7. Although accounts receivable is considered an asset, it should be noted that the cash is not collected right away. This asset is less liquid than cash or other short term assets and CBI should ensure that they are collecting payment from customers in a timely manner. Accounts receivable decreased slightly to 14.2% in year 8, which would be interpreted as strength as it indicates that CBI is doing a good job collecting payments from customers. Total current assets represented 24.5% of total assets in year 6, rising to 31.5% in year 7 and 36.8% in year 8. Reviewing the line items for current assets, this increase is attributable to the increase in accounts receivable as well as cash/cash equivalents. This could be interpreted as a strength for CBI, as an increase in current assets means the company is in a better position to pay debt obligations and use assets to grow the company. However, it’s worth noting that the majority of CBI’s current assets are tied up in less liquid assets – accounts receivable and inventory. These are more difficult to convert to cash should the need arise. Total long term liabilities (mortgage payable and other long-term liabilities) decreased steadily year over year at CBI. In year 6 they represented 45% of total liabilities and equity, decreasing to 41.6% in year 7 and 39.2% in year 8. This is a strength for CBI as it shows they are paying down their long-term liabilities. A reduction in liabilities improves liquidity ratios and the company’s ability to pay operational expenses as well as their debt obligations. Total current liabilities for CBI followed the trend of current assets and rose steadily year over year – 2.5% of total liabilities and equity in year 6, 5.4% of total liabilities and equity in year 7, and 7% of total liabilities and equity in year 8. Looking more in-depth at CBI’s current liabilities shows that this increase year over year is due to the rise in accounts and notes payable. The other line items (accrued salaries and other accrued expenses) held steady. I interpret this as a weakness for CBI, and should analyze why their current liabilities were rising when they were collecting more cash, particularly in year 8. The cash flow increase in year 8 was substantial and could have been used for accounts payable obligations. It’s possible that the company was holding on to cash/cash equivalents in year 8 to weather the economic downturn. Retained earnings represent earnings not paid out as dividends, but retained by CBI for reinvestment in the company. Retained earnings represented 23.3% of total liabilities and equity in year 6, rising to 26.8% in year 7 and 27.5% in year 8. This is a strength for CBI as it shows that management is committed to retaining earnings in order to grow the company. A1c. Trend Analysis Trend analysis involves the usage of past figures for comparison. For trend analysis, information for a number of years is compared to a base year. Each item of the base year is represented as 100% and on that base, the percentage for the other years are computed. This analysis determines the percentage of increase or decrease in each item with respect to the base year and helps analysts make forecasts for future years. For CBI, net sales have been provided for year 6 (the base year) as well as years 7 and 8. The historical trend analysis figures for CBI are shown below, based on net sales and establishing year 6 as the base year. Year 6: $4,485,000 (100% trend percentage) Year 7: $5,980,000 (133.3% trend percentage) Year 8: $5,083,000 (113.3% trend percentage) This trend analysis does not show any surprises. The horizontal and vertical analysis clearly showed that various metrics (net sales, operational expenses, net income, etc.) showed a large increase from year 6 to year 7, followed by a decrease between years 7 and 8. The trend here shows a large net sales increase, followed by a decrease. The large swings in sales seem to indicate volatility for CBI. This is a weakness because it’s more difficult to forecast accurately, which can lead to inaccurate resource planning and negative stock price impacts if performance does not meet stated expectations. The forecasted trend analysis for CBI, using year 8 as the base year is shown below: Year 8: $5,083,000 (100%) Year 9: $5,247,450 (103.2%) Year 10: $5,471, 000 (107.6%) Year 11: $5,681,000 (111.8%) There’s no information given on how these forecasted trend numbers were calculated. It’s a positive sign that the sales increases are only a few percentage points each year, as this is much more sustainable and likely than a large increase such as between years 6 and 7 (which is generally not sustainable in the long run). This forecast would seem to indicate that the outlook is positive for CBI for the next few years. It’s likely that one of the underlying assumptions is that the economic situation will improve, and the company will sell more bikes. However, given the operational weaknesses pointed out in the horizontal, vertical and ratio analysis, if I were an investor or analyst I would want to know more about the company’s plans to address the se weaknesses before taking these figures at face value. A1d. Ratio Analysis As part of the ratio analysis, two important ratios to consider when analyzing a company’s liquidity are: Current Ratio Acid-Test Ratio The current ratio is current assets divided by current liabilities, and measures a company’s ability to pay their short-term liabilities. In theory, the higher the ratio the better. However, there are some limitations to the current ratio as I’ll note in the next section. CBI’s current ratio in year 7 was 5.79, and in year 8 was 5.25. Stated another way, CBI could use their current assets to pay their current liabilities 5.25 times over in year 8. This would seem to be a strength for CBI, and in fact this ratio is higher than their competitor Two Wheel Racing (with a ratio of 4.20). However, this ratio has one fundamental flaw its conceptually based on the liquidation of all of a companys current assets to meet all of its current liabilities. In reality, this is not likely to occur. Its the time it takes to convert a companys working capital assets into cash to pay its current obligations that is the key to its liquidity. Much of CBI’s current assets are tied up in accounts receivable, as well as work in progress inventory and raw inventory. These assets are not as liquid as cash, but are figured into the current ratio calculation. So CBI’s high current ratio looks strong on the surface, but upon further analysis there is a weakn ess in the somewhat large proportion of less liquid assets CBI holds that factor into the equation. The acid test ratio is another measure of liquidity, and more stringent than the current ratio in that it measures a company’s ability to cover their short term liabilities without selling inventory to do so. Looking at CBI’s numbers, the acid test ratio in year 7 was 4.41, and in year 8 it was 4.14. These numbers are higher than that of their competitor Two Wheel Racing (3.40) and that represents strength for CBI. However, I’ll note once again that the company will need to monitor and manage their current assets to ensure that the proportion of less liquid assets (accounts receivable and inventory) does not greatly outweigh their more liquid assets (such as cash). Average collection period is the time that it takes CBI to collect accounts receivable payment from customers. This number held steady at 43.8 days in years 7 and 8. However, it’s higher than that of competitor Two Wheel Bikes (32.5 days). This is a weakness for CBI, as it signals that the company may be too lax in collecting what’s owed to them and may eventually have difficulties meeting their short-term and long-term obligations. CBI should focus on strategies to reduce the time it takes to collect on accounts receivable. The debt ratio represents the total percent of assets financed by debt, and is calculated by dividing total liabilities by total assets. In year 7, 47% of CBI assets were financed by debt, which decreased slightly in year 8 to 46.2%. However this number is still substantially higher than that of their competitor, Two Wheel Bikes, at 38%. This is a weakness for CBI, and if they cannot bring this ratio down by increasing sales and profits to pay down some of their debts, they may have trouble paying their debt obligations. Gross profit margin for CBI was 27.4% in year 7 and 27% in year 8. This is lower than that of their competition, Two Wheel Racing at 32.1%. This is a weakness for CBI, as it signals that they are not as efficient as their competitors. CBI could improve this ratio by decreasing expenses, which would in turn decrease the cost of goods sold. Another way to improve this ratio would be to increase revenues. The operating profit margin for CBI differed substantially from year 7 to year 8. In year seven the figure was a healthy 5.3%, but in year 8 it dropped sharply to 1.9%. This is a weakness for CBI as this is a lot lower than that of Two Wheel Bikes (5.2%) and this signals that CBI is not doing a good job generating cash flow and providing shareholder value. One way CBI could improve their operating profit margins is by auditing their operating expenses and trimming costs wherever possible. An example would be adopting lean work processes with as little waste as possible. The raw materials inventory in particular should be reviewed to see if efficiencies could be gained by improved internal controls for inventory. Net profit margin is the percentage of each dollar earned that is translated into profits. CBI’s net profit margin in year 7 was 2.8%, and a dismal 0.6% in year 8. These numbers are much lower than those of the competition (Two Wheel Racing had a margin of 5.2% in year 8) and are a definite weakness for CBI, as companies with low net profits can go bankrupt in the event of a sustained downturn. This low number signals that the company is not running their operations efficiently and would be a red flag for investors. Earnings per share is an indicator of a company’s profitability and ability to generate shareholder wealth, and is the most important factor when determining the company’s share price. As the name suggests, it’s the earnings that the company generates per share outstanding. In year 7, CBI’s EPS was 0.17, or 17%. In year 8 that figure declined to 0.03%, which is nearly zero. This is a serious weakness for CBI as it suggests that the company is not doing a good job of generating wealth for shareholders, and this could lead to a selloff of the stock. In a worst case scenario, the stock price would decrease and the company could go out of business. Return on total assets is an indicator of how effectively a company is using its assets to generate earnings before contractual obligations must be paid (Investopedia.com, n.d). In year 7 CBI had a 4% return on assets, slightly lower than that of their competitor Two Wheel Bikes (at 4.8%). In a year where sales were up 33.3% from the year before, investors might expect a higher return. As I’ve pointed out in other sections, the reason this number is not higher is because CBI did not do the best job keeping their expenses under control. In year 8 the number is even worse – a dismal 0.7%. This is a weakness for CBI overall as it shows the company has some work to do to control expenses and use their assets effectively. Return on common equity measures how much profit a company generates with the equity shareholders have invested. This ratio is calculated by subtracting preferred dividends from net income, then dividing that number by common equity. CBI’s return on common equity was 7.5% in year 7, and decreased sharply to 1.4% in year 8. This is much lower than that of the competition – Two Wheel Racing’s ratio was 8.1% and is a weakness for CBI. This signals that the CBI is not doing a good job generating profit from the equity shareholders have invested, and it could lead to a stock sell off or investors demanding that measures be taken to increase equity returns. Financial analysts and investors would likely not have much confidence in these numbers. The price/earnings (P/E) ratio is a measure of the valuation of a company’s share price compared to its per-share earnings. Price/earnings ratios are tied to investor expectations. Investors are willing to pay more if they believe that future earnings will be substantially higher. On the other hand, if a company is stagnant and investors dont believe that future earnings will be going up, they will not want to pay as much and the P/E ratio will be lower. CBI’s P/E ratio in year 7 was 29.41. This means that investors would be willing to pay $29.41 in share price for every $1 in earnings. This is a strength for CBI because it suggest investor confidence in the company, which typically leads to an increase in share price. However, in year 8, the P/E ratio declined to 23.33. This is due to the company’s lackluster sales and operational performance in year 8. This is definitely a weakness for CBI – if investor confidence continues to decline, the share price will decline also. Times interest earned represents the number of times operating income can cover interest expense. CBI generated enough profits in year 7 to cover their interest expense 5.27 times. This number is a strength for CBI as it demonstrates that the company is doing a good job of generating income while keeping expenses at a manageable level, and is higher than the 4.24 figure from their competitor, Two Wheel Racing. However, the times earned interest ratio in year 8 is only 1.77, mainly due to the large drop in net income in year 8. This is a weakness for CBI as sales and profits decreased, while interest expenses did not drop in proportion. CBI needs to do a better job managing their operating expenses, which will improve this ratio. A2. Working Capital Analysis for CBI An important measure of a company’s efficiency and short-term financial health is the amount of working capital they have on hand. This is one measure of the company’s liquidity, and the ability to meet short-term (current) debt obligations with current assets. Working capital is used for day to day operational expenditures to pay bills of the business including employee wages, utilities, and rent, among others. This number is calculated by subtracting current liabilities from current assets. Investors view working capital as measure of a company’s operational efficiency. In general, companies with greater amounts of working capital are better able to achieve success by investing assets back into the business, rather than hanging on to non-cash assets in large amounts. While a business may have a large amount of assets, it may be very difficult to convert them into cash in order to take advantage of opportunities that require fast action – an example of this is an asset such as land or buildings. If current liabilities are greater than current assets, a working capital deficit is created, and a business cannot survive long-term in this scenario. Working capital numbers for CBI: Year 6 1,029,303 – 105,080 = 924,223 (9.79 current ratio) Year 7 1,353,044 – 233,700 = 1,119,344 (5.79 current ratio) Year 8 1,575,831– 300,200 = 1,275,631 (5.25 current ratio) CBI has been steadily increasing their working capital in years 6-8, with a 21.1% increase from year 6 to year 7, and a 14% increase from year 7 to year 8. This consistent rise in working capital confirms that the business has sufficient working capital to cover their short-term liabilities and invest for future growth of the company. One thing to note here is the large increase in current liabilities from year 6 to year 7 (82%) when assets rose by only 21.1%. This is largely due to the large increase in accounts and notes payable. Large increases in liabilities such as this are not a negative per se and can signal that the company is investing for growth, but should be monitored over time to make sure the company does not become overleveraged. The ideal scenario is if the increases in assets and liabilities are more proportionate (rising at a similar rate). Working capital is related to the current ratio, which measures the company’s ability to pay current liabilities with current assets. It’s calculated by dividing total current assets by total current liabilities. This ratio should be at least 1, which means the company has exactly enough capital to pay its short term liabilities, with no excess cash. It’s preferable if the ratio is higher than 1. However, a ratio that is much higher than the average could be considered a weakness, as it may signal that the company has too much inventory on hand, is slow to collect on accounts receivable, or that they are hanging on their excess cash rather than investing it for future growth. It’s important to note that working capital ratios vary widely between industries; when analyzing a company’s working capital ratio, a comparison to the average ratios for the overall industry should be included in the analysis. CBI’s current ratio was very high in year 6 – 9.79. This means for every $1 in liabilities, the company had $9.79 in assets. On the surface this appears to signal strength, but this could actually be considered a weakness for CBI as it suggests that they are holding on to cash and liquid assets and not investing to grow the company to its full potential. In years 7 and 8, the current ratios decreased to 5.79 and 5.25, respectively. This is largely due to taking on additional short term liabilities (accounts and notes payable). The ratio in years 7 and 8 is much closer to the ratio of their closest competitor, Two Wheel Racing and suggests that the company is moving toward using their current assets more effectively. If CBI can keep operating and goods costs under control and not overleverage themselves, the taking on of additional debt could be considered part of the cost of doing business and part of their growth strategy, i.e. a positive development. Working capital could be improved in the following ways: 1. Decreasing the amount of liabilities in short term debts such as accounts and notes payable. 2. Converting short term debt to long term debt to free up funds for investment. 3. Increasing efficiency via internal process improvements, thereby reducing expenses and increasing profits. Examples include shortening accounts receivable collection periods (CBI’s are longer than that of their closest competitor) and consolidating sales offices. 4. Issuing stock to generate capital for investment in assets that will help the company grow, such as the purchase of a new distribution center or bike assembly location. Excess working capital (liquid assets) could be invested in the following ways to increase profits: 1. Internal systems updates such as new, faster computer systems for employees or manufacturing equipment. This investment has the benefit of improving efficiency. 2. Investing in people – hiring new talent as well as training the salespeople already working for the company. 3. Investing in marketing and advertising to create compelling sales promotions and get the word out about CBI. Since the company’s sales are largely through word of mouth advertising, there is considerable untapped sales potential. A3. Evaluation of the internal controls for the purchasing system at CBI After reviewing the purchasing system for CBI, there are a few weaknesses in the internal controls that the company should address to mitigate risk and increase efficiency. 1. No receiving department currently exists to monitor incoming shipments from suppliers. Having no internal controls in place for this step in the supply chain is a weakness for CBI. This can result in an increased risk of incorrect orders being processed, resulting in unused parts being sent to the raw materials inventory stores as noted in the storyline. These parts must be written off the books if they are not used in the current year, and this costs the company money. The other impact is damaged orders being accepted by the company. If orders are monitored upon arrival and found to be damaged, CBI can contact the supplier immediately to remedy the situation. This will minimize costly delays in production since errors are caught earlier in the supply chain, and the company can save money if they have ensured that all orders are accurate and undamaged before payment is sent to the supplier. 2. The purchasing department’s procedure for selecting suppliers is not as robust as it should be. Checking for three sources of similar quality, as noted in the storyline, is a good start but not sufficient to ensure good internal controls. Suppliers should be vetted in a selection process using criteria defined and documented by CBI. If this is not done, it could lead to increased risk of fraud (collusion between the CBI Purchasing manager and the supplier, for example). 3. The purchasing manager is responsible for multiple related responsibilities; in this example, selecting the supplier, placing the order and sending the supplier’s invoice to the accounting department. There is not sufficient separation of duties throughout the purchasing process. A3a. Weakness Corrective Actions The following scenario illustrates what a purchasing procedure policy with good internal control procedures in place could look like for CBI. 1. The production department evaluates existing inventory of raw materials, then creates a list of raw materials they need for the next month and sends it to the purchasing manager. 2. The purchasing manager gets the list and consults with the policies and procedures manual for the raw materials. The manual instructs the purchasing manager to consult the trade journal for the industry, which contains a list of suppliers for the raw materials requested. 3. The purchasing manager should review the supplier list to ensure there’s no conflict of interest (such as close friends/relatives working for any of the suppliers on the list, stock ownership in any of the companies, no gifts accepted from the companies). If there are conflict(s) of interest for any of the suppliers, they should be removed from the list. 4. The purchasing manager should then review the Better Business Bureau (BBB) list for the remaining suppliers to see if any complaints have been registered during the past y ear. Suppliers with complaints registered with the BBB should be removed from the list. 5. The purchasing manager should contact the remaining suppliers to request competitive bids. Once they are submitted, the bids should be reviewed and the lowest competitive bid selected. 6. Once the bid is selected, the purchasing manager should send a purchase order to the selected bidder. Once this is done, the purchasing manager’s job is complete. 7. The supplier sends the shipment to the company; upon arrival it is taken in by the CBI receiving department for inspection and documentation. A shipping note is generated by the receiving department which details each item and can be used to confirm that all items that were ordered actually arrived. 8. A copy of the shipping note is sent from the receiving department to the accounting department, and accounting will compare that note with the invoice from the supplier requesting payment. They cross check these two documents to ensure they match. 9. Once accounting has ensure these documents match, they write a check to the supplier and the process is complete. A3b. Risks All of the weaknesses, if not remedied, increase the risk of fraud. An example of this would be the purchasing manager colluding with the supplier to send an invoice with inflated numbers to accounting, which would result in overpayment to the supplier that does not reflect an accurate order. In a worst case scenario, if the record keeping is weak and the employees are able to subvert the system and falsify the documents, then financial statements based on numbers in these documents are no longer accurate. Experienced financial analysts who review the company’s financial statements will immediately know that something isnt right with the numbers, and will sell the stock, leading to a drop in stock price. If this is left unchecked it can result in the downfall of the company and/or criminal prosecution of the company’s financial executives. Given these risks, it would be very prudent for CBI’s management team to take an in-depth look at the internal controls for p urchasing and make adjustments to correct the weaknesses. A3bi. Risk Mitigation In the proposed purchasing system in section A3a, there are two ways that the identified internal control risks are mitigated. First, there’s a good separation of duties – this avoids the situation where one employee is responsible for multiple related responsibilities (which can lead to greater temptation for fraud). An example of this is in step #7. The purchasing manager is not involved in this step; they were directly involved in the placement of the order and so should not also be in charge of receiving the order or generating the shipping note (therefore maintaining separation of duties). Second, there are also multiple checks and balances to ensure accuracy for orders, as well as documentation for each step to ensure good records are kept. Accounting will then have accurate numbers on which to base their financial reporting, minimizing the risk of material misstatements on their annual or interim financial statements. A4. Analysis of compliance with Sarbanes–Oxley requirements An important piece of legislation related to financial reporting and internal controls for publicly traded companies is the Sarbanes-Oxley Act (SOX). After several highly publicized accounting scandals among corporations in the US in the 1990s, SOX was enacted to â€Å"reform companies’ financial reporting processes, as well as the internal and external auditing of the financial reporting process† (Hilton, 2011). It’s very important that companies understand and comply with the rules laid out within this legislation, as the penalties for not doing so are severe. Top executives including the CEO and CFO can be held criminally responsible and go to prison if their company’s financial statements are fraudulent or misstate the firm’s financial condition. There are two sections within SOX that are of particular relevance – sections 302 and 404. Section 302 requires the signing officers of a company’s financial reports (such as the CEO and CFO) to establish, maintain, and monitor the effectiveness of internal controls over financial reporting. In other words, these executives are ultimately responsible for the accuracy of the company’s financial documents, and must disclose to the company’s auditors any weaknesses or changes in the company’s internal control system. Section 404 requires a company include an internal control report for financial reporting within its annual report. This internal control report must contain two key elements – a statement of managerial responsibility for establishing and maintaining an effective internal control structure for financial reporting, as well as an assessment of the effectiveness of the defined internal control structure. A4. Compliance In regard to CBI and its compliance with SOX, the company believes they are adequately addressing the requirements of the legislation. CBI’s internal audit stated that internal controls over financial reporting are accurate based on criteria set forth by the Committee of the Sponsoring Organizations of the Treadway Commission (COSO). However, the annual report issued by the auditors to the shareholders noted that the company’s internal control over financial reporting could lead to a possibility of a misstatement in the company’s annual or interim financial statements that would not be detected or corrected in a timely manner. This will be noticed by financial analysts and investors, and could affect the company’s stock prices as well as the increase the likelihood of close financial scrutiny and audits by the Public Company Accounting Oversight Board (PCAOB), whose mission is to â€Å"oversee and investigate the audits and auditors of public companies, and sanction both firms and individuals for violations of laws, rules, and regulations† (Hilton, 2011). A4a. Noncompliance Corrective Actions Based on this information, CBI should take immediate actions to ensure compliance with SOX, including reassessing and addressing weaknesses in their internal controls over financial reporting, possibly consulting with the Public Company Accounting Oversight Board to do so. When CBI’s annual report is published, it should include an internal control report with the elements noted in Section 404 (statement of managerial responsibility over financial reporting internal controls, and an assessment of the effectiveness of the defined internal structure). The statement should clearly state any and all corrective action taken to bring the company’s financial reporting into compliance with SOX regulations. The company’s auditors need to be able to vouch for the effectiveness of the implemented internal controls. RESOURCES Hilton, R. (2011). Managerial accounting: Creating value in a dynamic business environment (9th ed.). McGraw-Hill. Hardcover ISBN: 9780073526928. What is Horizontal Analysis? Definition and Meaning (n.d.). Retrieved from Business Dictionary: http://www.businessdictionary.com/definition/horizontal-analysis.html Definition of ‘Return on Total Assets – ROTA (n.d.). Retrieved from Investopedia: http://www.investopedia.com/terms/r/return_on_total_assets.asp

Thursday, November 14, 2019

Berendts Attitude in Midnight in the Garden of Good and Evil :: Midnight Garden Good Evil

Berendt's Attitude in Midnight in the Garden of Good and Evil "The biggest challenge . . . is finding characters worth writing about, " says John Berendt, author of Midnight in the Garden of Good and Evil. "I found a mother lode in Savannah" (Anderson 18). Berendt conveys certain attitudes towards different characters and events. He takes the same explorative and open approach to each person and situation, but his final attitudes towards them are quite varied. He behaves very differently around Jim Williams than around Joe Odom and his crew, and differently from all of them when around Lee Adler. His reactions to the news of Williams's arrest and trials vary greatly from his reaction to the Lady Chablis' singular exit from "her" job. Berendt is more reserved and plays the part of the confidant when he is in the company of Williams. From their first meeting, Williams seems ready to open up to Berendt, and the reader gets the feeling that Berendt welcomes the role. He portrays Williams as an arrogant but decent enough type who is somewhat lonely and in need of a feeling of power. Williams's affinity for Nazi relics and weapons is one sign of his power fetish, as is his superior view of himself. Berendt takes all of this in stride and uses it to set up the foundation for Williamsà ­ actions during the trials later in the book. During their meeting, Williams tells him many stories about Savannah and the people who live there. Berendt's reaction to Joe Odom and his followers and friends is more relaxed. Joe gives Berendt the three basic rules of Savannah, which include "Always stick around for one more drink" and "Never go south of Gaston Street" (Berendt 49). These rules demonstrate the exclusiveness of Savannah and its willingness to let loose and have some fun with life. The third rule also shows one of the traditions of Savannah: "Observe the high holidays - Saint Patrick's Day and the day of the Georgia-Florida football game" (49). Nearly everyone in Savannah gets involved in both these holidays, adding their own twists to both. For Saint Patrick's Day, the drinking begins at 6 a.m. The women in South Georgia don't start wearing panty hose till after the big game. While Berendt doesn't let Joe's advice stop him from exploring south of Gaston Street, he welcomes the guidance all the same.

Tuesday, November 12, 2019

Bill of Rights Essay

The Bill of Rights is the ten amendments of the United States Constitution. They were first introduced by James Madison in 1789. These amendments protect the fundamental rights of citizens by restricting the powers of the federal government. These rights provide freedom of speech, religion, bear arms and freedom from search and cruel punishment. Congress can also cannot impose the death penalty or seize the property of any individual without the due process of courts. The Bill of Rights remains the fundamental document of the American government and legal system. It also embodies the freedom and culture of the nation. The First Amendment of the United States prevents Congress from making legislation that establishes any religion, prohibits freedom of religion, restricts freedom of speech and press or limits the right to assemble peacefully. The founding fathers did not want an official Church to be established in the new nation. The British had established the Church of England as the official church of Britain. This Church was also the official church in some of the colonies. The founding fathers believed that this limited their freedom of religion. They also believed that government should not favor any one religion because it would lead to religious intolerance. Indeed the primary function of migration to North America was to escape the religious and economic persecution present in Europe. Anti British publications disseminated information regarding abuses of the colonial rule. Further anyone with pro British sentiments was silenced or intimidated. The founding fathers therefore passed this amendment in order to ensure that tolerance of different ideas and expression were allowed (Hoffman, 1997). The Second Amendment of the United States Constitution allows the creation of a militia and the right of people to keep and bear arms. The creation of a militia was taken from England which had passed a law in 1689 giving the right to bear arms. The right to keep arms protected the American colonists from Indian attacks and European enemies of Britain. These arms would also be useful for the colonists when they declared their independence from Britain. The founding fathers also believed that the English law restricts the citizens of England to bear and keep arms to Protestants. Poor people cannot use weapons for hunting purposes. Further they also believed that a universal militia is the best defense against foreign aggression (Hoffman, 1997). The Fourth Amendment of the United States Constitution helps protect the citizens from illegal searches and seizures conducted by political authority. The British used writs of assistance which were general search warrants after its navigation laws were being ignored by American colonists. The founding fathers did not want this type of illegal search and seizure to be conducted by the American government. This was the reason why the Fourth Amendment was passed (Hoffman, 1997). The Third Amendment prohibits the government from allowing soldiers to be lodged into the private homes of civilians. The founding fathers wanted to prevent the government from allowing this as the British had done before the American Revolution. According to the Quartering Act, British troops could lodge in private homes and use whatever resources were needed to maintain discipline and morale (Hoffman, 1997). The Eight Amendment prohibits cruel punishment and excessive fines. In England, the power to grant bails to criminals was in the hands of sheriffs. This would lead to abuses in power. Despite a law passed by the English parliament, the law was still subverted. The founding fathers sought to curb this English law after independence to prevent the government from imposing excessive fines and cruel punishment (Hoffman, 1997). The Fifth Amendment of the US Constitution allows accused criminals to be provided with due process of law and forbids double jeopardy. It also prevents the forcible testimony of a person against himself or herself. The British colonial legal system was flawed as it did not give criminals the due process during legal proceedings. It did not protect the individuals from political or religious enemies. It was misused by anyone who wanted to settle scores with anyone. The founding fathers of the United States of America did not want this to occur. This Amendment therefore calls for the establishment of impartial grand juries which would protect criminals from false accusations or abuse of law. It also prevents the conviction of a person again if he has served prison for one crime. The Amendments of the US Bills of Rights which were incorporated into the US Constitution are the foundation of the country’s legal system, government and culture. They ensure the protection of the rights of individuals and restrict the ability of the Federal government to impose laws which would infringe on the civil liberties of the people. References: Ronald Hoffman. The Bill of Rights: Government Proscribed. University Press of Virginia for the United States Capitol Historical Society, 1997.

Sunday, November 10, 2019

Critical and Evaluative Response to Virginia Woolf’s Professions for Women Essay

Critical and Evaluative Response to Virginia Woolf’s Professions for Women Virginia Woolf (1882-1941), a British author and feminist, was born and grew up in London. At that time girls weren’t sent to school, so she was educated by her parents. Although she was a woman, Woolf became a significant figure in London literature society and a member of the Bloomsbury Group. Professions for Women is one of her essays in which she talks about the difficulties women should deal with in all kinds of professions. This essay is considerably impressive. It made me think about myself, as a woman, and the problems I face during the path to success. Woolf points out to many obstacles that women fight when becoming â€Å"a doctor, a lawyer, a civil servant†, (277) etc. They are held back by their fears and doubts as well as society’s beliefs and judgments. Woolf talks about a â€Å"phantom† (274) that used to interrupt her when she was writing. She says that phantom is an obstacle that women should get rid of it to reach their goal. In my opinion â€Å"phantom† can be anything. Everyone, regardless of kind, class, sex has his/her own phantom. It represents an obstacle of the mind. It’s a negative thought that comes between us and our aims, and keeps us back from maintaining the success. It’s something we have to learn to break to improve ourselves, and as Woolf says â€Å"It is far harder to kill a phantom than a reality† (275). Woolf uses beautiful metaphor to explain the â€Å"phantom. † She likens it to an â€Å"Angel†, and calls her â€Å"The Angel in the House† (274), and continues â€Å"It was she who bothered me and wasted my time and so tormented me that at last I killed her†, and describes her briefly: â€Å"She was intensely sympathetic. She was immensely charming†¦Ã¢â‚¬  (274). Woolf also makes a strong imagination of herself â€Å"writing a novel in a state of trance†: â€Å"The image of a fisherman lying sunk in dreams on the verge of a deep lake with a rod held out over the water† (276). These literary figures attracted me and made me want to read more by this writer. The essay is mostly in a narrative style of writing. Woolf uses narration to describe what occurred to her when she was writing. She tells the story of how she did the battle with the â€Å"Angle†, which represents women’s hesitation and fear, and overcame the phantom that wanted to prevent her from being her true self. She goes on to talk about what happened after she has â€Å"killed† the â€Å"Angel. † She found that after we overwhelm one of our weaknesses there are many more to come. There are more personal obstacles we must jump over as well as society’s obstacles. In my opinion this essay has and had a very effective reflection of women’s life style. Woolf encourages women to take professional careers, such as a doctor or a lawyer, and also encourages them to actively participate in society. It says that in order to maintain the success, we have to face many oncoming obstacles, whether they are material or society or even ourselves.

Thursday, November 7, 2019

Re-sensitizing Our Youth essays

Re-sensitizing Our Youth essays Stakes are high. The audience is restless. The thunderous echo of a motorcycle engine fills the arena as The Undertaker approaches the ring, ready to take on his worthy opponent. As boisterous cheers fill the room, he lifts his challenger by the neck with both hands and furiously throws him to the ground leaving his rival seemingly disoriented and writhing in agony. The crowd goes wild with exhilaration while some- where in America an eight-year-old boy, Aaron Auffhammer, is injured on the playground as a result of a classmates attempt to mimic a wrestling maneuver commonly seen on television. The maneuver known as The Tombstone was made famous by The Undertaker. Someone tripped him. While he was trying to get up, another child picked Aaron up by his feet so that he was upside down. Then slammed his head on to the ground. Thankfully, between a doctors visit to rule out a concussion and close observations from his parents, Aaron recovered. According to the American Psychological Asso ciation website (www.apa.org) it is estimated that American children watch on average three to four hours of television daily. During this time they have witnessed over 25 acts of violence. By the time the children are twelve-year -old they will have witnessed over 100,000 acts of violence. Two hundred thousand acts by the time they are 18. Violence permeates American homes through a variety of television programming including sitcoms, commercials, and even cartoons. Violence on television is not the only source that is desensitizing American youth it is however, a significant contribution. It is societys responsibility to help re-sensitize our children and make television less violent for all. Government is an immediate thought when it comes to rectifying the situation. The government unlike other sources has the ability to regulate through the Federal Communication Commission (FCC), what is broadca...

Tuesday, November 5, 2019

How to Submit a Book Proposal in 3 Steps

How to Submit a Book Proposal in 3 Steps How to Submit a Book Proposal in Just 3 Steps Many writers start the publishing process thinking that the writing of a book is the most difficult part of the journey. Once their book is written and published, they quickly realize that the marketing of their book is just as hard - if not harder!The same thing applies to book proposals. Once you've finished writing a great book proposal, you might think you're over the hump and ready to coast to a book deal. But then you realize: you still haven't figured out who to submit it to - and how.Well, we want to be in your corner! To that end, this post will discuss the four main components of submitting a book proposal: deciding whether you need a literary agent, how to find the right publishers for you, and what to do if your proposal is rejected.How to Submit a Book ProposalDo you need to submit a book proposal through an agent?How to submit a book proposal to publishers in 3 steps.What should you do if your book proposal is rejected?Do you need to submit a book proposal through an agent?The answer is yes and no. Or rather, it depends on the type of book you’re working on and your goal.Let’s start with the yes...When you should work with a literary agentIf you are working on general fiction (such as histories, memoirs, and biographies) and are looking to secure a contract with a major trade publisher or New York house, you will need a literary agent for your proposal to be considered. Do you need a literary agent to submit a book proposal? Find out here. To bring that point home, here’s an account from a former executive editor at St. Martin’s Press, Laurie Chittenden: â€Å"Once a month, assistants will process the slush pile. That means putting a form letter with the proposal saying the publisher doesn’t accept unsolicited manuscripts and sending it back to the author. Publishers already see such a massive volume of projects from agents, they don’t have time to look at unsolicited ones. When I was in-house, I’d easily get 25-50 manuscripts a week from literary agents. That’s well over 5,000 pages to read a week, on top of the books I already had under contract to edit.† And remember that as with any new business endeavor (which is what you should treat becoming a published author as), sometimes you need to call on the experts.If your proposal hasn’t yet led to a contract, considering getting a set of professional eyes on it. A developmental editor usually charges $500 - $1,000 and can take the feedback you’ve received so far to improve your proposal and ensure it’s putting it’s best foot forward.And hey, the good news is that the more you keep at it, the more you learn about the publishing process - maybe even enough to fill a book.What's been your experience with submitting or writing book proposals? Do you have any additional questions about this process? Leave your thoughts in the comments below!

Sunday, November 3, 2019

The Chapter Reactions Essay Example | Topics and Well Written Essays - 500 words

The Chapter Reactions - Essay Example The ideas presented in Chapter 2 are indeed very helpful in my own life because it has somehow made me more aware of the need to understand and respect the cultural differences among people with varying backgrounds. Just like anybody, I have my own world views of the world. It is important that I realize that my world views may be different from other people because of the differences in our backgrounds. For example, I realized that I tend to be very individualistic in terms of dealing with certain tasks or in terms of dealing with people. I personally do not feel the need to be extra friendly with other people if I do not feel like it. In fact, I could very well tell somebody up front that I do not like him or her and I expect other people to be straightforward with me too. However, I have to realize that there are indeed some people who would rather preserve their existing relationships rather than be straightforward and labeled rude or tactless. In addition, the chapter has also m ade me realize that while I personally may have a strong sense of achievement, other people are more inclined towards ascription and are more inclined to be confined within the roles or classes that they are oriented into.

Friday, November 1, 2019

Individual differences and second language acquisition Essay

Individual differences and second language acquisition - Essay Example ional or biological factors enhance the differences amid humans, and there are ways that individuals use to learn their variations, although their interaction and introspection with other individuals can be similar. In this regard, it is crucial to evaluate the individual differences that influence second language acquisition. Among the factors that will be evaluate include; age, learning styles, individual motivation, learning strategies, sex, personality and aptitude. One of the most influential individual differences that affect the acquisition of second language is age. Ehrman, Leaver and Oxford (2003) hold that children and young individuals have a better chance of acquiring a second language as compared to older individuals; the argument is that there is a certain age limit at which children have the ability to acquire a second language at a faster rate. Beyond that age, physiological transformations in the brain force it to lose its capacity to intake new functions of acquiring a new language. For persons that have been deprived off the ability for linguistic input require a trigger that enhances the acquisition of the first language and this occurs at a critical period. Zafar and Meenakshi (2012) cite a case in which a 13 year old girl that had been abused and kept away from any languages was rescued; unfortunately, regardless of the numerous efforts to teach her the first language so as she would communicate, Genie never learnt the languag e. This finding led to a long and controversial debate which sought to determine the appropriate time in which an individual can acquire a new language. In other words, scholars held that there is a critical period at which an individual can acquire a new language and it is controlled by the physiological transformations that take place in the brain. The explanation given is that as an individual becomes older, the level of self-conscious increases and it hinders the ability to learn a second language. The sensitive

Tuesday, October 29, 2019

What are the arguments for and against the dropping of the atomic Essay

What are the arguments for and against the dropping of the atomic bombs on Japan Was this decision justified What alternatives existed - Essay Example Did President Truman authorize the bombing solely as a means to put an end to a bloody, prolonged conflict and to ultimately save both American and Japanese lives due to an impending invasion on Japan’s homeland or was the decision based on assuring that the Soviet Union would not have a say in post-war Asia is it had in post-war Europe? Finally, even if it is assumed that the first bomb dropped on Hiroshima was necessary and justifiable, was the second bomb on Nagasaki justifiable as well? While the battles for the Philippines and Okinawa were taking place, President Truman, who had become president following the death of Roosevelt, was considering an invasion of the Japanese mainland. By now, the U.S. Navy had ships stationed just off the Japanese coast while its submarines were deployed in the Sea of Japan. Because the battles at Iwo Jima and Okinawa were very fierce, it was estimated that half a million to a million soldiers would be killed if the scheduled November 1, 1945 invasion of Japan occurred (â€Å"Decision to Drop†, 2003). In addition, President Truman was contemplating that if the Japanese would quickly surrender prior to the Soviet Union becoming involved in the war, set for August 15, Russia could not demand a part in the post-war settlement. When America unleashed the atomic bomb on Japan, the act infuriated the Soviet Union because it wanted its say just as it had in the carving up of Eastern Europe. This was the beginning of the Cold War betw een the Soviet Union and the U.S. (Lewis, 2002). The war in the Pacific theater culminated in the dropping of two atomic bombs in 1945 on cities in Japan affecting surrender (Goldstein & Dillon, 1981). On the clear morning of August 6, the first atomic bomb, nicknamed Little Boy, was dropped on the city of Hiroshima† (â€Å"Atomic Bomb†, 2007). The blast leveled more than half of that city. Seventy