Stylistic Analysis of the Text “The Last Leaf

/*/bundle javafxgrouping;/** * @author 094632220 */open class StudentEntity {/private String id; private String name; private String className; open StudentEntity(){ } open StudentEntity(String aID, String aName, String className) { this. id = aID; this. name = aName; this. className = className; } open String getId() { return id; } open void setId(String id) { this. id = id; } open String getName() { return name; } open void setName(String name) { this. name = name; } open String getClassName() { return className; } open void setClassName(String className) { his. className = className; } @Override open String toString() { String str = id + â€Å",† + name + â€Å",† + className ; return str; }/* : TaDB. java * â€â€â€â€â€â€â€â€â€â€ * HashMap id( )? * , taMap? HashMap * , (open ): * TaEntity findEntry(String id): * String findName(String id): * int columns(): * Iterator<String> getIterator(): ( ) */bundle javafxgrouping; import java. i o. BufferedReader; import java. io. FileNotFoundException; import java. io. FileReader; mport java. io. IOException; import java. util. ArrayList; import java. util. HashMap; import java. util. Iterator; import java. util. Guide; import java. util. StringTokenizer;/** * @author */open class TaDB {/*/private Map<String, TaEntity> taMap;/(HashMap)/* TaDB, (TA. txt) * , */open TaDB(String filename) { taMap = new HashMap<>();/*/FileReader fr = invalid; attempt { fr = new FileReader(filename); } get (FileNotFoundException e) { System. out. print(â€Å" † + filename + â€Å"! ); }/*/BufferedReader bf = new BufferedReader(fr); String line; attempt {/while ((line = bf. readLine()) ! = invalid) {/, ta ArrayList<String> ta = new ArrayList<>(); StringTokenizer tokenizer = new StringTokenizer(line, â€Å",†); ta. add(tokenizer. nextToken()); while (tokenizer. hasMoreTokens()) { String token = tokenizer. nextToken(); ta. add(token); }/TaEntity passage = new TaEntity(ta. get(0), ta. get(1), ta. get(2), ta. get(3), ta. get(4), ta. get(5));/(HashMap) taMap. put(entry. getId(), passage); } get (IOException e) { System. ut. print(â€Å" † + filename + â€Å"! â€Å"); }/* id( ) , invalid? */open TaEntity findEntry(String id) { return taMap. get(id); }/* id( ) , invalid? */open String findName(String id) { return taMap. get(id). getName(); }/*/open int lines() { return taMap. size(); }/* (id) */open Iterator<String> getIterator() { return taMap. keySet(). iterator(); }/*/bundle javafxgrouping;/** * @author */open class TaEntity { private String id;/private String name;/rivate String iid;/private String email;/private String telephone;/private String coach;/*/open TaEntity() { }/*/open TaEntity(String aID, String aName, String aIID, String aEmail, String aPhone, String aTutor) { this. id = aID; this. name = aName; this. iid = aIID; this. email = aEmail; this. telephone = aPhone; this. coach = aTutor; }/*getter ? setter*/open S tring getId() { return id; } open void setId(String ID) { this. id = ID; } open String getName() { return name; } open void setName(String name) { this. name = name; } open String getIid() { eturn iid; } open void setIid(String IID) { this. iid = IID; } open String getEmail() { return email; } open void setEmail(String email) { this. email = email; } open String getPhone() { return telephone; } open void setPhone(String telephone) { this. telephone = telephone; } open String getTutor() { return mentor; } open void setTutor(String coach) { this. mentor = guide; } */@Override open String toString() { String str = id + â€Å",† + name + â€Å",† + iid + â€Å",† + email + â€Å",† + telephone + â€Å",† + coach; return str; }/*/bundle javafxgrouping; import java. io. FileWriter; import java. io.IOException; import java. io. PrintWriter; import java. util. ArrayList; import java. util. Iterator; import java. util. Irregular; import java. util. logging. Level; import java. util. logging. Lumberjack; import javafx. application. Application; import javafx. assortments. FXCollections; import javafx. assortments. ObservableList; import javafx. occasion. ActionEvent; import javafx. occasion. EventHandler; import javafx. scene. Gathering; import javafx. scene. Scene; import javafx. scene. control. Catch; import javafx. scene. control. ListView; import javafx. scene. input. MouseEvent; import javafx. scene. text. Text style; import javafx. stage.Stage;/** * @author */open class JavaFXGrouping expands Application {/HTML private static String htmlFileName = â€Å"group. xhtml†;/CSS private static String cssFileName = â€Å"style. css†; private last int sceneWidth = 900;/private last int sceneHeight = 660;/private taDb = new TaDB(â€Å"src/javafxgrouping/TA. txt†);/, private studentsDb = new StudentsDB(â€Å"src/javafxgrouping/Students. txt†); private ArrayList<String> taIdArray = new ArrayList<>();/d private ArrayList<String> studentIdArray = new ArrayList<>();/id private ArrayList<String> studentAdd = new ArrayList<>(); private int studentsNo = studentsDb. columns(); private int groupNo = taDb. lines();/, private Button btn = new Button(â€Å" â€Å");/â€Å" private Button btn1 = new Button(â€Å" HTML â€Å");/â€Å" HTML â€Å" private ListView<String>[] bunch = new ListView[groupNo];/, 1? rivate ObservableList<String>[] myObservableList = new ObservableList[groupNo];/private Group root = new Group();/@Override open void start(final Stage primaryStage) {/â€Å" btn. setFont(Font. font(null, 24)); btn. setLayoutX(sceneWidth †240); btn. setLayoutY(20); btn. setPrefSize(220, 50);/â€Å" HTML â€Å" btn1. setFont(Font. font(null, 24)); btn1. setLayoutX(sceneWidth †240); btn1. setLayoutY(20); btn1. setPrefSize(220, 50); btn1. setVisible(false); initArray();/taIdArray? studentIdArray drawGroupList();/, root. getChildren(). d dAll(btn, btn1);/scene = new Scene(root, sceneWidth, sceneHeight);/primaryStage. setTitle(â€Å" â€Å");/primaryStage. setScene(scene);/primaryStage. appear();/† â€Å" ( ) btn. setOnAction(new EventHandler<ActionEvent>() { @Override open void handle(ActionEvent occasion) { btn. setVisible(false); randomGrouping(); btn1. setVisible(true); });/† HTML â€Å" ( ) btn1. setOnAction(new EventHandler<ActionEvent>() { @Override open void handle(ActionEvent occasion) { writeToFile(); btn1. setVisible(false); }); } ** * JavaFX fundamental() IDE FX * NetBeans primary() * @ args */open static void main(String[] args) { launch(args); } private void drawGroupList() { int k; for (int j = 0; j < groupNo; j++) { myObservableList[j] = FXCollections. observableArrayList(); group[j] = new ListView<>(); group[j]. setStyle(â€Å"-fx-textual style size:18;†); group[j]. setItems(myObservableList[j]); group[j]. setLayoutX(20 + j * 60); group[j]. setLayoutY(20 + j * 34); group[j]. setPrefSize(360, 320); k = j + 1; myObservableList[j]. add(â€Å"? † + k + â€Å"? [ :† + taIdArray. et(j) + â€Å",† + taDb. findName(taIdArray. get(j)) + â€Å"]†); last int I = j; group[j]. setOnMouseClicked(new EventHandler<MouseEvent>() { @Override open void handle(MouseEvent occasion) { group[i]. toFront(); }); root. getChildren(). add(group[j]); } private void initArray() {/id Iterator<String> taIterator = taDb. getIterator(); while (taIterator. hasNext()) { taIdArray. add(taIterator. next()); }/id , Iterator<String> studentsIterator = studentsDb. getIterator(); while (studentsIterator. hasNext()) { studentIdArray. add(studentsIterator. ext()); } private void randomGrouping() {/, int I, j, num = 0; Random studentsRandom = new Random(); for (I = 0; I < groupNo; i++) { j = 0; in the event that (I < studentsNo % groupNo) { while (((studentsNo †num) ! = 0) && (j < studentsNo/groupNo + 1)) { j++ ; int studentNo = studentsRandom. nextInt(studentsNo †num); myObservableList[i]. add(studentsDb. findclassName(studentIdArray. get(studentNo)) + â€Å",† + studentIdArray. get(studentNo) + â€Å",† + studentsDb. findName(studentIdArray. get(studentNo))); studentAdd. add(studentIdArray. et(studentNo)); studentIdArray. remove(studentNo); num++; if (num == studentsNo) { break; } else { while (((studentsNo †num) ! = 0) && (j < studentsNo/groupNo)) { j++; int studentNo = studentsRandom. nextInt(studentsNo †num); myObservableList[i]. add(studentsDb. findclassName(studentIdArray. get(studentNo)) + â€Å",† + studentIdArray. get(studentNo) + â€Å",† + studentsDb. findName(studentIdArray. get(studentNo))); studentAdd. add(studentIdArray. get(studentNo)); studentIdArray. remove(studentNo); num++; f (num == studentsNo) { break; } private void writeToFile() { writeToHtml(htmlFileName); createCss(cssFileName); } private void writeToHtml(Stri ng fileName) {/HTML , PrintWriter wr = invalid; attempt { wr = new PrintWriter(new FileWriter(htmlFileName)); } get (IOException ex) { Logger. getLogger(JavaFXGrouping. class. getName()). log(Level. Extreme, invalid, ex); } wr. println(â€Å"<? xml version=†1. 0†³ encoding=†UTF-8†³? >†); wr. println(â€Å"<! DOCTYPE html>†); wr. println(â€Å"<html xmlns=†http://www. w3. organization/1999/xhtml†>†); wr. println(† <head>†);String join = † <link rel=†stylesheet† href= â€Å"† + cssFileName + â€Å"†/>†; wr. println(link); wr. println(† <title> </title>†); wr. println(† </head>†); wr. println(† <body>†);/wr. println(â€Å"<div class=†result†> </div>†); wr. println(â€Å"<hr/>†); int I, n = 0, j,

Personality analysis - Carlos Ghosn free essay sample

1. Portray Carlos Ghosn utilizing the â€Å"Big Five† elements of character †¢ Extraversion mirrors the propensity to encounter positive passionate states and like oneself and one's general surroundings. His own style is lively and direct, yet not without warmth. He accepts each open door to impart his vision and need. He likewise goes straightforwardly to the people.He tends to the whole organization all the time. Wherever he goes he tries to converse with Nissan representatives at all levels, frequently in little gatherings. He additionally exhausts impressive exertion to associate with general society. He knows about imparting his vision to the organization and make them feeling genuine piece of it †¢ Agreeableness is the inclination to coexist well with others and collaborates. Ghosn is agreeable to straightforwardly discussing significant issues, giving everybody the likelihood to talk about and present his perspective He holds a solid lucidity of vision and capacity to impart all through the association. We will compose a custom exposition test on Character examination Carlos Ghosn or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page His messages are clear, direct, and basic. His need is clear. He trusts in giving his administrators exact and quantifiable destinations Motivation is his definitive weapon. His administration style is propelled by this. He is requesting about execution, exceptionally requesting on himself, and extremely requesting of the individuals around him. His tought is:† To have the option to be requesting, you need to enable individuals. You cannot be requesting of somebody who isnt enabled, it isnt fair† He is eager to tune in to the pundits, however without meaning to notoriety at any expense †¢ Conscientiousness is identified with the degree to which an individual is cautious, careful, and protecting. Ghosn stresses activity, speed, and results. He follows up intently. In the event that there are any deviations he follows them right away. He is tireless in following up. Ghosn thinks the most essential to create astonishing outcomes is to show clear objectives and system, engage individuals, watch the outcomes cautiously and watch out for the truth †¢ Emotional Stability intends to be genuinely and truly unsurprising and not promptly moved. Individuals that are sincerely steady can endure the everyday strains and worries by not getting genuinely resentful, on edge or furious. Ghosn had the option to confront the everyday pressure, and did well even in troublesome circumstances: for instance as when propelling a three-year plan for expanding Renault’s productivity, in a deadened market and an extremely close disapproved of setting, confronting social clashes, as the French were notâ willing to acknowledge change. An other troublesome circumstance where he showed to have a forceful enthusiastic soundness was as ‘cost killer’ for Nissan. He went directly to his objective, courageous about a certainly not famous errand Openness to Experience: mirrors the degree to which an individual is unique, has wide interests, and is happy to face challenges. Ghosn ascribes his prosperity to the way that he works through cross-useful groups. He imagines that when individuals from various foundations cooperate under tension they think of progressively imaginative arrangements . â€Å"What is diverse is the main way we can develop by standing up to ourselves† he says He is additionally ready to face challenges, as he exhibit being the principal official to attempt to run two major carmakers on the double. An exceptionally enormous test

Prepare a persuasive speech on the importance of alcoholism Essay

Set up a convincing discourse on the significance of liquor addiction anticipation. your crowd is a gathering of 20 secondary school understudies and their folks - Essay Example Compound properties of liquor are to such an extent that it influences your Central Nervous System (CNS) which incorporates the â€Å"brain.† Alcohol in your blood diminishes the mind action and discourages the outflow of specific tensions. Therefore, you rest easy thinking about yourself and less stressed. Consequently, you feel all the more socially gifted. Indeed, even the doctors endorse CNS depressants, for example, liquor to treat uneasiness, muscle pressure, torment, a sleeping disorder and fits of anxiety. There are numerous different medications that have comparative impacts to liquor, model: opiates, barbiturates, benzodiazepines and chloral hydrate. We have to comprehend why individuals pine for liquor. It isn't only a person’s shortcoming. Liquor has the â€Å"addicting effect† on people because of its concoction properties. And furthermore, people impaired are normally vicious. You may feel intense after you have had a brew. Be that as it may, the tragic truth is â€Å"alcohol is controlling you†, not the reverse way around. Inebriated people may disregard and misuse youngsters, hurt ladies and crippled or put their lives in danger. By and large individuals have admitted that they were impaired while carrying on savagely. Liquor related brutality is a serious social issue on the planet. More than 100,000 understudies old enough 18 to 24 are casualties of liquor related rape or assault. Another 400,000 understudies had unprotected sex while too inebriated to even consider knowing whether they agreed to having intercourse. On the off chance that you are not worried about the general public everywhere you ought to be worried about your own prosperity. Liquor hinders your judgment, makes lager midsections and prompts aftereffects. One day you may wake up from aftereffect to discover that you are a high school mother, single parent, need a fetus removal, having AIDS or explicitly transmitted contaminations (STIs). Liquor utilization debilitates the safe framework. At the end of the day heavy drinkers are bound to pass on from AIDS, tuberculosis and explicitly transmitted diseases (STIs) contrasted with the

The Canadian And Us Banking System Finance Essay - Free Essay Example

The Canadian banking system began as a nationwide system, which encompassed a miniscule number of banks with numerous branches and allowed for diversification on a larger level. In contrast, American banks were prohibited from nationwide branch banking and from diversifying their portfolios. Many Canadian and American observers have come to view the two systems as distinct and believe that stability is a valid reason as to why the American system should adopt a nationwide banking system as well. While the Canadian Banking system has proven to be economically stable, it is associated with high barriers to entry and a costly charter that holds an excessive amount of economic power. Regardless of their distinct government regulations and differing response to situations brought about by financial crises, there has been little attempt to compare both systems over a long period. This paper will examine the differences between the United States and the Canadian banking systems. In particular, it will discuss the forces, which spurned the creation of these economic entities; as well as evaluate the effectiveness and efficiency of each system to stand firmly during periods of economic depression. Early banking in Canada suffered from the rippling effects of the Mississippi and South Seas Bubble, which convinced Canadians that paper currency was worthless and could not be trusted. As discussed in class, prior to 1763 paper money issued by the French government in Quebec was not valued; the fall of Quebec in 1759 pushed the situation over top. Staying true to their nature, British aristocrats and seigneurs in Quebec were intolerant of merchants and traders alike and were uninterested in finance or trade.Canada demonstrated little interest towards the idea of a central bank for the half of the 19th century following Confederation. Before Confederation, branch banks were established with little funds and very little skill than required for independent banks. Branch banks served the nations needs for more than a century and Chartered banks printed money required for circulation and met the needs of seasonal or unpredictable demand. The new Dominion Government was granted authority over banking, currency, interest and other related matters under the British North America Act of 1867. A comprehensive act was drafted to replace the expired bank charters of the four original provinces in 1871. The Minister of Finance John Rose, under the Macdonald government, desired a banking system that mirrored the American free banking system. Such a system would allow provinces to hold more power than the federal government, something Macdonald did not want. According to Joe Martin The political goal was financial stability, and the managerial challenge was to create the institutional and regulatory framework to carry it out. (Martin, 2011, p. 22) The first bank of United States - championed by Alexander Hamilton in 1791 in Philadelphia and was built on the view that in order to have a prosperous and powerful nation, an established banking system was necessary. The structure mirrored that of the bank of England and served as both a commercial and central bank. The establishment of the first bank was significant as it served as a model for the Canadian Banking System and mimicked each word and section of the from the banks charter. The constitution on 1787 failed to address whether banking was governed under federal or provincial legislation; this eventually became the deciding factor between the American and Canadian banking system. The constitution did address the right to issue and regulate silver and gold coinage to the Federal government but specifically prohibited the printing and circulation of paper money. The agrarian forces aligned against Hamilton were bankers in New York and Boston who were against the location of t he bank and were suspicious of the northeast elite. Thomas Jefferson was particularly against the notion of a bank and preferred that the United States refrain from navigation or commerce. (Martin, 2011, p. 27) Apart from incorporating the First bank of the U.S., the act also provided a route the government utilize to retain control of the state charted banks. When Jefferson and his supporters came into power, they refused to renew the bank charter in 1811, partly because the bank had accomplished so much. The Second bank of the United States was established in 1816, but was allowed to die after its twenty-year charter had expired. With the absence of a central bank, Americans failed to inject liquidity into the banking system and in turn, failed to combat the economic crisis of the early 1900s. At the time, J.P Morgan, one of the leading financiers of the Era, took on the role of the central bank and single-handedly rescued the nation. Jefferson and his supporters established the F ederal Reserve in 1913 after realizing that a country with such a large economy would not stand on its own without a central bank. According to author Charles Freedman, the Canadian financial system was constructed around five principal pillars: trust and loan companies, the co-operative credit movement, life insurance, securities dealers and chartered banks. (Freedman, 1998) These pillars were characterized by core business activities and government jurisdiction, under which they were incorporated and supervised. Additionally, different institutional types were traditionally separated by functionality, which increased penetration into each others primary focus of business. Trust and loan institutions tend to specialize in residential mortgages and term deposits, whereas Canadian life insurance companies were headed by the federal jurisdiction; meaning that they invested the proceeds of life-insurance in mortgage portfolios and financial assets, such as bonds and equities. (Freedman, 1998) On the other hand, Canadian securities dealers operated under the jurisdiction of provincial legislation. Incorporated and s upervised under federal legislation, Canadas chartered banks remained the dominant deposit taking institution with long involvement in commercial lending. Another major difference between the Canadian and U.S banking system encompasses the sunset clause. The sunset clause is clause that requires the Canadian government to conduct periodic assessments and updates of laws governing its banking system. This re-assessment done once every decade, builds on the present Act by improving the framework to ensure that the objectives of promoting competition more efficiently and effectively are met. (OECD Economic Surveys, 2010) The Sunset Clause gave birth to important legislative amendments in 1980, 1987, 1992, 1997, and 2002. (Allen and Engart, 2007) Consequently, this has led to the creation of more diversified and market oriented activities on the part of Canadian Banks, such as the entry of foreign banks into Canada. Initially, entry by foreign markets into Canada was limited by strict regulations. By allowing foreign banks into Canada, there would be a requirement to implement new regulations and procedures, which may be misaligned with Ca nadas system. This is a distinct phenomenon particularly because a safe and efficient financial system is important for the development and longer-run growth of the economy. (Allen and Engart, 2007) A third distinction in the Canadian banking system is the lack of interest rates on deposits. In Canadian banks, there was an absence of ceiling on interest rates and deposits as well as the elimination of ceiling rates on loans. Having established controls on interest rates, any financial deposits into the United States banking system escaped. As Canadian banks did not have such controls, any deposits made toward the Canadian financial system remained within the country. By the twenty first century, the amount of U.S debt financed outside the country outweighed the internal debt within the traditional financial system. Majority of financing which spawned from short-term deposits could easily turn tail and flee at the first sign of deteriorating investor confidence. (Doren, 2011) The United States has restrictions on the rates of interests that could be paid on deposits. According to Bordo, Rockoff and Reddish, although working to increase profit rates , U.S banks were made sensitive to the dangers of losing deposits when market rates rose which forced them to maintain more reserves. (Bordo, Redish Rokoff, 1994) The low risk of failure in Canada made it possible for the Canadian banks to hold smaller amounts of non-interest bearing assets and to precede to higher asset equity ratios. In addition, Canadian mortgages have fixed rates for a maximum of only five years thus eliminating the problems inherent in linking shorter-term deposits with long term loans. (Doren, 2011) In essence, interest rates paid on deposits were generally higher in Canada, interest income received on securities was slightly higher, interest rates charged on loans were similar and net rates of return to equity were higher in Canada than in the United States. (Bordo, Redish Rokoff, 1994) In contrast, the United States banking system has been fragmented for most of its history; directly pertaining to a Supreme Court case in 1839, which restricted the establishment of bank branches across America. This fragmentation did not support the needs of national corporations or industrialization and was instead reinforced by unregulated financial and commercial paper markets. There are numerous issues surrounding the United States and the limitations surrounding its nationwide banking arrangement. The first reason concerns the fragility of individual banks, in that their portfolios were too small and lacked diversity. This made it difficult to transfer funds across the country. As a result, the system would usually fail during difficult economic times when rural banks attempted to protect themselves by withdrawing funds from their correspondents, which would in turn discourage the crisis. Prior to World War I, the United States experiences major economic crises. These occurrenc es were essentially accredited to the usage of reserved holdings and heavy reliance on securities market to finance investments. (Bordo, Redish and Rokoff, 2008) In the nineteenth century, many communities in the United States became one-bank or few-bank towns because of branching restrictions and consequently, charged monopoly loan rates. (Bordo, Redish and Rokoff, 1994) This was a disadvantage to customers because of the higher costs association. On the other hand, the individual banks were benefiting large sums of money from its inefficient banking arrangement. The nation was in dire need for branch banking arrangements particularly in the interest of the consumers. Both the legislative and regulatory environment heavily influences the banking structure of Canada and the U.S. These characteristics play a part in determining the efficiency and stability of a banking system; in fact, from the 1920s to the 1980s many economists argue that Canadas banking system was more proficient in both stability and efficiency when compared to the United States. This belief was largely due to the prohibition of nationwide (interstate) branch banking in the U.S., which has destroyed the nations ability to successfully combat major issues without experiencing bank failures.ÂÂ   Tailored to nationwide service Canadian banks proceeded to establish an oligopolistic financial system with limited entry. Because of this, Canadian broker-dealer and securities market systems were limited in expansion, as banks possessed the financials capable of sustaining industrial development. Although many economists refer to the mid-1800s as a period of free banking in the U.S, this is somewhat of a misnomer, as the reference was less literal and more towards several banking systems founded on free banking regulations. Banks were prohibited from establishing branch networks and had to either purchase or yield eligible securities from banking authorities in order to secure notes. The depreciation of securities, including authorized government bonds were deemed the source of bank failures during this period. This restriction on nationwide branch banking gave way to discounted bank notes at fluctuating rates the further they travelled from their sources. In summary, the defective banks and their supply of paper money proved the imminent danger of unauthorized and romantic ideas of regulation. Current regulation outlined by the McFadden Act of 1927, the Banking Act of 1933 and the Bank Holding Act of 1956 permits individual states to create its own policies regarding the allowance of outer state banks to operate within its borders. Prior to the 1907, as a contingency tool branch banking was used to minimize the occurrence of future economic downturns but lost to the establishment of a central bank. The 1907 post-panic debate involved three distinct parties: New York banks, Midwestern city banks and country banks; of these three groups, only the Midwestern banks were in favor of positive structural reform. (Horowitz Selgin, 1987) This group dominated the American Banking Association (ABA) and proposed deregulation through reform and interstate branch banking. The goal of New York banks was to maintain the status quo and aimed to accomplish this by preventing a transfer of power to midwestern banks. On the other hand, country banks were adamant on prohibiting any branch ban king scheme that would have them competing with the city banks; in turn they ironically aligned themselves with Wall Street which preened any reform actions proposed by the ABA. Supporters of branch banking promoted economists and authors who believed that the panic of 1907 was preventable if interstate banking was allowed. Many highlighted the successful avoidance of crises in Canadian systems, where nationwide banking was encouraged. Thought regulations approved in 1913 favored Federal Reserve Banks, central banking was a compromise erected in response to the New York banks desire for continued hegemony. (Horowitz Selgin, 1987) This became evident when the depression of the 1930s unveiled the instability of the banking system. In 1933, during a nationwide commercial bank failure and the Great Depression Senator Carter Glass and Representative Henry SteagallÂÂ  championed the Glass- Steagall Act. (ValueClick Inc, 2003) This act divided and forestalled commercial and investment banking activities in order to prevent future economic crises. During this period, the stock market crashed due to improper banking activities carried out by commercial banks and their excessive involvement in the stock market. Commercial banks became greedy and took big risks by investing large amounts of capital into assets; buying new issues and reselling them to the public. Banks granted fallacious loans to companies with which they owned a stake and clients were encouraged to invest in those stocks. As a solution, a regulatory firewall was established, separating commercial and investment banks by controlling their activities. Banks had to make a choice between specializing in commercial or investment banking and only ten pe rcent of commercial banks total income could stem from securities. (ValueClick Inc, 2003) Directly targeted and forced to reduce their services, numerous financial giants such as J.P Morgan and Company, lost their main source of income. Over a period of extended prosperity in the early 1900s, a significant percentage of unit banks failed due to declining agriculture prices. Although Canada practiced branch banking and its financial structure for commercial banking mirrored that of the United States, the nation did not encounter significant bank failures. Glass eventually concluded that little banks were hazardous to stable banking and contributed to the condemnation of depositors. Glass also desired an integrated banking system supervised by the Federal Reserve and claimed that the dual system (shared by state and federal authorities) was an abomination to the nation. As part of Federal Reserve Act, all national banks were required to become members of the Federal Reserve System, wh ereas commercial banks had the option to join in or opt out. (Wessel, 2009, p. 97) This was to minimize the competing views of regulators governing the affiliated and unaffiliated banks. In addition, the Act was delayed until Glass adjusted the legislation to prohibit nationwide branch banking within states that encourage this. Proposals made by larger banks were considered attempts to sabotage the state banking system that provided financial services to small towns. This resulted from the anxiety to preserve the dual banking system between the state and federal authorities. Unfortunately, these small towns accounted for ninety percent of failures in the U.S and deposit insurance arose as a hasty alternative to branch banking, which would ensure the safety of the banking system. (Wessel, 2009, p. 50) Deposit insurance was not a new concept and had been around since the panic in 1907; however, in each case problems quickly arose following its introduction to several states. First, by asking banks to deposit their assets into a fund, an incentive problem emerged. Banks began to hold more risky portfolios because they held only a fraction of risks contributing to failures. Second, deposit insurance could contribute very little to save banks when the economy took a turn for the worst. Despite the negativity ass ociated with deposit insurance plans, unit banks claim that there is a possibility for effectiveness when handled properly. Now that we have highlighted several differences within each system and discussed the forces behind this historic establishment, we will now examine the efficiency and effectiveness of both systems to combat economic depression and inflation. As previously mentioned, the structures of both the United States and Canadian banking systems substantially differ. However, an efficient banking system is important in order to maintain long-term growth and productivity within the economy. The Canadian banking system has remained relative stabile throughout history despite the concentration of the overall banking industry. In contrast, the relative fragmentation historically rooted in the United States banking industry, has led to a sharp decline of commercial banks by approximately forty five percent over the last eighty-five years. (Mayer, 2004, p. 57) However, the fact that the United States is more market concentrated than Canada, means that U.S banks do not heavily influence the nations f inancial industry. There are numerous opinions on both the economic and political reasons, some generally shared, about why the financial crisis occurred. Governments failed to properly regulate markets and minimize a financial meltdown. Many observers suggested that various government policies aided the emergence of the crisis and credits fours main factors to this: (1) accessibility of credit resulting from artificially low rates, (2) government policies favored housing and in turn prompted subprime risk-taking, (3) government regulations related to corporate policies in large financial institutions and (4) failure to supervise the economy. (Roberge, 2010) Like other countries, Canada was impacted on some level by the global financial crisis over the past few years. Thanks to the equilibrium of systems within the financial service sector and the nature of its policies, Canada managed to emerge in good shape. As mentioned earlier, Canada financial structure is divided into several jurisdictions. The Federal government is in charge of banks; securities and investment firms as well as trust companies are under provincial authority; insurance is governed by both jurisdictions. The late 1900s and onwards brought with it drastic change to the Canadian system. A system once operated according to pillars was dismantled in 1987, allowing banks to own firms in investment, insurance and trust. As a result, large five banks dominated across all pillars due to changed policies. Under federal jurisdiction, there was a simultaneous centralization of political, supervisory and regulatory authority within Canadian banks. (Roberge, 2010) The 1980s witne ssed the last bank failure in Canada and the system has remained stable ever since, thanks to the oligopolistic banking system in Canada. Canadas response to this crisis was threefold. First, both definitive and pragmatic measures were established to ease the credit crunch. The government purchased $125,000,000 worth of mortgage bonds to increase their lending capacity. Second, the Federal government amended the Bank Act of Canada, which provided banks more power to manage the financial crises. Regulating investment contracts with guaranteed rates and guarantying investors that no money would be lost on their assets, was also part of the effort. Third, the Canadian government seized the opportunity and established a national securities board. Canada remained under control whereas other countries, such as the U.S., required major bailouts. Canadas resilience to this event is largely attributed to the structure and workings of their policy network within the financial sector. This policy networks mode of operation in the financial sector has remained generally small and obstinate, despite the networks expansion. The Fina ncial Institutions Supervisory Committee (FISC) is compromised of all important government personnel and ensures that lines of communication that exist across sectors remain clear. The Canadian system has one potential weakness, the absence of a definite authoritative figure overlooking the stability of the financial services sector. The tenacity of the Canadas policy network becomes increasingly evident when compared to the United States. Because of such cohesiveness and stability Canadas only experience with controls occurred in the late 1970s as a response to relatively high inflation rates. Controls are any type of government policy, which influences the overall pricing and wage structure in the economy. These controls place extensive restrictions on the maximum rate of which wages and prices can increase during various periods. Two characteristics that distinguish price controls from other types of government controls are: (1) these policies are adopted for the sole purpose of controlling inflation, not to accomplish economic efficiency or equity; (2) they influence numerous economic sectors rather than focusing on primarily one market. The anti-inflation act created by the Federal government spelled out a three-year control system. (Wirick, 2012) Firms with 500 plus employees were restricted by wage guidelines; these guidelines also applied to federal as well as a majority of public-sector employees. Price restri ction and cost markups were restricted by controls placed on large corporations. Overall, the controls program helped to restrict high inflation and keep it below certain levels. The historic background of Wall Street has demonstrated the obscure relationship between the government and the financial markets in the U.S., particularly the relationship between Washington and Wall Street. With division among regulatory and supervisory authority, an opportunity to pit one regulator against another showed itself. Following the Wall Street Crash of October, 1929, the United States entered into, what is now called The Great Depression. This period was marked by a series of bank failures and high unemployment, reaching as high as 25% in 1932. (Woodward, 2000, p. 72) In response to this great economic crisis, the newly elected Roosevelt administration began The New Deal, a series of economic programs, reforms, and regulations enacted between 1933 and 1938. Some of these programs included the Social Security Act, the Federal Emergency Relief Administration, which provided millions of dollars in relief operations, and the Works Progress Administration, which made the fed eral government the single largest employer at the time. The bursting of the U.S. housing bubble in 2006 and current ongoing global recession has led to the worst financial crisis in the United States since The Great Depression. Under the Bush administration, the United States government issued a limited bailout of the housing market, giving out close to a trillion dollars in loans with over half going to Fannie Mae and Freddie Mac. (Wessel, 2009, p. 178) Moreover, the United States has experienced a recessionary period every twenty years

The Growing Problem of College Dropouts - 651 Words

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A good example of a student council making a difference in the student body can be seen at Columbia University in 2013 where the Insight Party set clear and attainable goals for students such as decreasing the council’s operational budget by twenty percent and reallocating the funds into student programs and creating a more transparent system. Therefore, as Columbia University has shown, more involvement on the student council’s part can have positive effects on the students in their ambitions. Expanded academic advising is also needed. With centrally trained and selected advisers, Florida State University has set up advising centers that provideShow MoreRelatedEffects Of Dropout On The Latino Communities Essay1375 Words   |  6 Pagesmajority of students who are dropping out of school. Dropout rates are a great concern to school districts and to the U.S. in general. If the population is increasing this means that our future generation needs to be well equipped to help us progress. 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Racial Profiling And The Civil Rights Movement - 993 Words

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Statements on Standards for Accounting

Question: Discuss about the Statements on Standards for Accounting. Answer: Introduction: IAS 33 as we all know is an accounting standard in EPS. The basic objective behind IAS 33 is to enable the users of the financial statements to compare the performance of the company vide EPS among different financial reporting periods and also allow different companies to compare the financial statements of the same reporting periods on the basis of EPS. (Accounting, 2017) All entities whose shares are listed and are traded publicly are required to report both basic as well as diluted EPS. Basic EPS is calculated by dividing the profit or loss by the weighted average number of ordinary shares outstanding during the period for which the same is getting reported. The profit or loss for computing the EPS is calculated after deducting all expenses, taxes dividends i.e. this is the amount which is left for carrying over to the balance sheet. For calculating the denominator i.e. the number of shares at the beginning of the reporting period must be reduced by shares bought back during the reporting period or if the shares are issued during the reporting period then the shares issued as adjusted with the time weighing factor should be added with the shares at the beginning of the reporting period. (AICPA., 2016) However in the case of calculating diluted EPS, the numerator is adjusted keeping in mind the after tax effect of the savings if the potential equity shares get converted into equity shares and in the case of denominator the number of shares are adjusted keeping in mind the diluted equity shares. For example in the case of convertible securities the denominator will be increased with the number of shares that will be issued on conversion and the numerator will be adjusted with the after tax effects of the interest as well the dividend. (Brown, n.d.) There are specific disclosure requirements in regards to the reporting of EPS. The breakup of the amount included in the numerator for the calculation of EPS needs to be disclosed separately showing a reconciliation of the same. If any share transactions take place after the balance sheet date but before the finalization of the accounts then these transactions should be reported stating the difference in the EPS assuming the transactions if would had taken place before the balance sheet date then the difference arising due to the same. The reporting of anti-dilutive potential shares also needs to be reported as they were not included in the calculation of diluted EPS. (Codification of statements on standards for accounting and review services, 2015) We have reviewed the financials and reporting of the EPS of 10 companies listed in Muscat Securities Market. The extent of compliance in terms of calculation, presentation and disclosure are as follows: Al Anwar Ceramic Tiles Company SAOG The company follows IAS 33. The company has reported EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. The company has mentioned its weighted average number of equity shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. Hence it could be seen that the company is fully complying with the IAS 33. (Earnings, 2012) Al Madina Insurance Company The company follows IAS 33. The company has reported EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. The company has mentioned its weighted average number of equity shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. Hence it could be seen that the company is fully complying with the IAS 33. The company has also mentioned that there are no shares of the company which can have a dilutive effect. (Earnings per share, 2013) Al Maha Ceramics SAOG The company has only reported the basic EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. (Ernst Young., 2016) The company has mentioned its weighted average number of equity shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has not mentioned diluted EPS and neither has it mentioned whether there are any such potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is not fully complying with the IAS 33. AL Jazeera Steel Products Company SAOG The company has only reported the EPS on the face of the consolidated and separate statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements for both Group Company and the parent company. The company has mentioned its weighted average number of equity shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. For the diluted EPS it has specifically mentioned that there is no dilutive potential share s so the basic EPS is same as that of dilutive EPS. Hence it could be seen that the company is fully complying with the IAS 33. (Fischer, Taylor and Cheng, 2008) Galfar Engineering Contracting SAOG Subsidiaries The company has only reported the loss per share on the face of the consolidated and separate statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements for both Group Company and the parent company. The company has mentioned its weighted average number of equity shares and the loss after tax of the company to arrive at the figure of the loss per share. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the loss per share could easily be made. For the diluted earnings/loss per share it has not mentioned anything whether there is any dilutive potential share or not. Hence it could be seen that the company is fully complying with the IAS 33. (Flood, n.d.) Muscat Finance SAOG The company has only reported the basic EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. The company has mentioned its weighted average number of equity shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has mentioned diluted EPS there are no potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is fully complying with the IAS 33. It has also given a note showing how the company has treated the stock dividend of shares without consideration in calculating the weighted average number of equity shares. (Flood, n.d.) Muscat National Holding Company SAOG and its Subsidiaries The company has only reported the EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. However it has mentioned only for the group company and not for the parent company which is also required by IAS 33. However the same has been reported in the notes of accounts i.e. both for the group company and the parent company. The company has mentioned its weighted average number of shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has mentioned diluted EPS there are no potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is fully complying with the IAS 33. (International accounting standards explained, 2009) Port Services Corporation SAOG The company has only reported the EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. It has also mentioned the EPS for the discontinued operations separately which is specifically required by the IAS 33. The company has mentioned its weighted average number of shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has mentioned diluted EPS there are no potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is fully complying with the IAS 33. (Iqbal, Iqbal and Aslam, n.d.) Shell Oman Marketing Company SAOG The company has reported both the basic and diluted EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. The company has mentioned its weighted average number of shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has mentioned diluted EPS there are no potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is fully complying with the IAS 33. (Melville, 2015) Takaful Oman Insurance SAOG The company has reported both the basic and diluted EPS on the face of the statement of comprehensive income and the detailed calculation of how the figure has been arrived has been provided at the notes to the financial statements. The company has mentioned its weighted average number of shares and the profit after tax of the company to arrive at the figure of the EPS. A comparative figure corresponding to the previous year has also been mentioned so that a quick review of the EPS could easily be made. However the company has not mentioned diluted EPS separately neither have it stated that whether there are any potential shares which could have an impact on the diluted EPS. Hence it could be seen that the company is not fully complying with the IAS 33. (Rayman, n.d.) Other Factors Affecting EPS There are various factors which affect the variance in the EPS of the company. Apparently it seems that increase in the profitability of the company would result in higher EPS of the company. However this is not always true as the increase in profitability would definitely increase the numerator for calculating the EPS however if there is an increase in the number of shares issued during the year then it would result in the fall of EPS despite there has been an increase in the profitability of the company as it would lead to increase in the denominator which would definitely decrease the EPS (Tierney and Tierney, 2007). On the contrary although there could be a fall in the profits of the company which should result in the fall of the EPS of the company but if there would had been buy back of the shares during the reporting period, it would automatically reduce the denominator i.e. decrease in the number of shares outstanding resulting in increase in the EPS of the company. So increas e in the profits of the company should not be considered as the only factor in the increase in the EPS of the company (Shen jie., 2013). The potential shares getting diluted in the reporting period, the increase in the profits of the company, the decrease in the profitability of the company, the buy back of the shares during the year in the company, fresh issue made during the year which also results in the increase of the shares during the year, bonus shares given during the year, etc are the various factors which affect the EPS of the company. IAS 33 very clearly specifies that reconciliation needs to be provided to show how the numerator and denominator has been arrived to compute the EPS of the company. Keeping in mind all the above factors one should clearly examine the reconciliation provided in the financials to find out the exact reason behind the increase and decrease in EPS of the company (Subramani, 2011). The interest rates prevailing in the market, government regulation s i.e. change in the tax rates in the company also have a significant effect in the calculation of diluted EPS. In the case of convertible securities it is required to take the after tax effect of the interest which is required to pay on the securities which would get converted into shares in the due course. In such cases the taxation rates has a significant impact on the calculation of the EPS. Higher would be the taxation rate, lower would be the diluted EPS as it would lead to lower savings of the company and the company will ultimately end up paying higher taxes of the company although it helps in saving the interest of the company. Hence all the above stated factors are responsible for increase or decrease in EPS of the company and no factor should be considered in isolation. Conclusion IAS 33 which is globally recognized standard which would help in better presentation of the earnings per share of the company. Since it is globally recognized hence will enable the users of the financial statements to compare on a standardized basis and the best part are that there will no intervention of the local bodies to manipulate the data (Wink and Corradino, 2011). Since the presentation will be on a same basis it would be helpful for the users of the financial statements to make an n easy comparison. It would also help the Omani corporate sector to line up with the global standards which would help them to compete on a global scale. Thus Omani corporate sector will soon be seen competing on a global scale with the international companies. (Tracy, 2013) To conclude, the above discussion on IAS 33- Earnings per share has laid down the basic ides of the whole of the standard. It has explained the practical implementation of the calculations, recognition and disclosure of the earnings per share by the companies as per IAS 33. It also has provides us with the details as to why high earnings per share is a good indicator of companys performance and that there are various factors which affect its value apart from profitability. (Wahlen, Jones and Pagach, 2013) References Accounting. (2017). 1st ed. South-Western Pub. AICPA., (2016).STATEMENTS ON STANDARDS FOR ACCOUNTING AND REVIEW SERVICES. 1st ed. [Place of publication not identified]: JOHN WILEY. Brown, P. (n.d.).Financial accounting and equity markets. 1st ed. Codification of statements on standards for accounting and review services. (2015). 1st ed. New York: Aicpa. Earnings per share. (2013). 1st ed. London [etc.]: International Accounting Standards Committee. Earnings. (2012). 1st ed. England: BLACKWELL Publishers (UK/US)-A I D C. Ernst Young., (2016).International gaap 2017 - generally accepted accounting principles under international ... financial reporting standards. 1st ed. [Place of publication not identified]: John Wiley Sons. Fischer, P., Taylor, W. and Cheng, R. (2008).Advanced accounting. 1st ed. Mason, Ohio: South-Western/Thomson Learning. Flood, J. (n.d.).Wiley GAAP 2017. 1st ed. Flood, J. (n.d.).Wiley revenue recognition. 1st ed. International accounting standards explained. (2009). 1st ed. New York: Wiley. Iqbal, A., Iqbal, M. and Aslam, S. (n.d.).Does earning per share determines the market price of ordinary shares. 1st ed. Melville, A. (2015).International financial reporting. 1st ed. Harlow (England) [etc.]: Pearson Education. Rayman, R. (n.d.).Accounting standards. 1st ed. London: Routledge. Shen jie., (2013).Guo ji cai wu bao gao zhun ze shi wu zhi yin. 1st ed. Bei jing: Zhong guo cai zheng jing ji chu ban she. Subramani, R. (2011).Accounting for investments. 1st ed. Singapore: John Wiley Sons (Asia). Tierney, C. and Tierney, C. (2007).Federal accounting handbook. 1st ed. Hoboken, N.J.: Wiley. Tracy, J. (2013).Accounting for dummies. 1st ed. Hoboken, N.J.: Wiley. Wahlen, J., Jones, J. and Pagach, D. (2013).Intermediate accounting. 1st ed. Mason, OH: South-Western Cengage Learning. Wink, G. and Corradino, L. (2011).Intermediate accounting demystified. 1st ed. New York: McGraw-Hill.