Analyzing Financial Statements essay

The liquidity of a private nonprofit human service organization can be found out by utilizing the current ratio. Liquidity signifies the level to which the organization has cash as well as other resources easily changeable into cash to cover existing working expenditures. To find out the long-range fiscal solvency of the private nonprofit human service organization and its capability to pay yearly expenses as they become due, the long-term solvency ratio is calculated. The contribution ratio is utilized to evaluate the dependence of a private nonprofit human service organization on its main income source.

The management/expense ratio is utilized to find out the ratio of private nonprofit human service organization’s general expenditure that goes to management or administration expenditure. Every dollar that goes for administration implies that one dollar less is on hand for programs and to give services to customers. The idea of the revenue/expense ratio is to find out if a human service organization is breaking even, earning funds, or losing funds. The revenue/ expense ratio can be considered as the organization’s “earnings margin. ” part Ill For the program suggested in Appendix B, calculate the following.

The key of this type of budgeting is its ease. The line-item budget can be understood by anybody involved. Following are the drawbacks of line-item budgeting method: Line-item budgets don’t say anything regarding how much service a human service organization renders, the cost of that service, the quantity of outcomes the organization achieved, or their employee costs. Resource distribution discussions and decisions have a tendency to be framed by the line-items themselves since no additional information is obtainable. Performance budgeting scheme can be done at the program level only.

The function of a performance budgeting system is to relate organization expenses to programs by deciding a program output (or item of service), performance assessment, the total program cost, and the cost for each output or cost for each unit of service. Its benefits are: they give information on the subject of the amount of service rendered by a human service program as well as the employee costs and calculation of the cost for each output or for each unit of service and they lift the intensity of argument from line-items to program costs, program services, programs, as well as program efficiency.

Conversely, the disadvantage of this kind of budgeting system is that human service organizations must employ refined cost analysis methods in order to find out the full cost of a program and to get exact unit costs. Program budgeting systems is to relate organization expenses to programs, evaluations of program outcomes, as well as the Cost to the program of getting outcomes. Performance budgeting gives insights into the efficiency of a human service program.

Benefit s of program budgeting systems are that they give report about the quantity of (client) outcomes got by a human Irvine program as well as the employee costs, including determination of cost for each outcome, and they increase the intensity of argument from service as well as efficiency worries to clients as well as effectiveness worries. Its drawbacks, nonetheless, are organizations should use refined cost analysis methods in order to find out the full cost of a program and to get exact unit costs, and that good outcome performance measures are often hard to build up.

Part V How can knowing the cost per output and cost per outcome benefit a human services agency? The sum of costs for all units of service is considered as cost for each outcome. The article of the fiscal strength and supervision of the agency is crucial in using cost for each output and outcome computations. Cost for each output and outcome computations can give insight into a human service agency’s fiscal management plan to assess whether or not the objectives and goals are being met to render the services which support the mission.

Outputs and outcomes give the information concerning the services, how they are executed, and whether they are or they are not financially good to the agency. Programming, services, and divisions of labor, can be decided to guarantee that funds are distributed correctly. Decisions can be made considering fixed and variable costs and how those influence the revenues. Quality of services can also be tackled using outputs and outcomes which establish the level of services and how the quality is influenced through an increase in backing or a decrease.

If you are unaware of the costs to get a certain outcome/output, the agency couldn’t know probably how much to charge for their services. Without knowing this, the agency will most definitely be losing money. What is the primary difference between a performance budget and a program budget? Why does a human services agency need to know this information? A performance budget distributes money to various programs within an agency as well as provides information about the service level on which the budget is predicated. The scenic level is known by the utilization of performance measures.

The key direction Of the performance budget is that of improving the in-house supervision of the program in addition to controlling costs,. Funds are distributed to major program areas by the program budget, concentrating on the projected results of services and activities to be continued. Program areas frequently used by government bodies include neural government, leisure services, human services, public works, and public safety. The stress of program projects is on the achievement of long- term local community objectives.

Both the program and performance budget use signs to assess operational and fiscal performance; however the budgets have a special focus. A performance budget highlights management efficiency, while a program budget highlights the advantages that the local community gets from municipal expenditures. Part VI Provide a 350- to 700-word response to the following: Identify and describe two types of traditional approaches to fund development, and two types of entrepreneurial approaches to fund development.

The procedure of fundraising is to seek and receive money or gifts by requesting contributions from governmental organizations, charity- organizations, corporations, as well as individuals. Generally, fund-gathering endeavors are linked with non-profit organizations. There are many conventional methods used for fund-raising, including Client Donations and Annual Campaigns. 1 . Annual Campaigns: These usually take place in the last months of a year when individuals and corporations are expected to donate generously to reduce their taxable income.

Annual Campaigns just mean a well-known fund-raising effort through direct mails or telephone solicitations to companies, individuals, organizations, etc. The basic purpose of annual campaigns is to push the earlier donors into making additional donations and also increasing the sum of their donations. 2. Client Donations: This conventional fund-raising endeavor refers to the independent contributions made by service recipients to human service organizations. A well-designed fund-raising effort facilitates the clients to donate something for maintaining the cost of the program separately from the normal raising of revenues.

To fight the persistently increasing struggle for financial support, innovative methods are used by the programs as well as human service organizations. 1 . Bequest Program: This long term fiscal development plan is a shape of planned giving where persons declare in their wills or estate plans concerning transferring particular properties, stocks, bonds, as well as money, to a non- profit human service organization or program after their deaths. With the assistance of this system, persons can convey their thanks towards a human service organization for the services received by them as well as their dear ones.

Executive Summary: Contents and Characteristics essay

For the readers quick comprehension, use topic headings at the beginning of ACH paragraph (see the Sample Plan at the end of this chapter); if you’d like a Summary that seems less like a list, omit the headings. Feel free to combine related topics, such as “Target Market” and “Marketing Strategy,” to create a more fluid document. Company Description: List the company name, type of business, location, and legal status, e. G. , corporation, sole proprietorship, partnership.

Statement of Mission: Write the concise statement of company purpose you developed in Chapter 5 Stage of Development: State whether our company is a start-up or continuing business, when it was founded, how far along the product or service is in its creation, and if you’re already made sales or started shipping. Products and Services: List the products or services your company sells or plans to sell, this can be generic for a company with many products- e. G. Women’s sportswear- or specific for a company with just a few. Target Market(s): List the markets you intend to reach and why you choose them, indicate the results of any market analysis or market research. Marketing and Sales Strategy: Briefly describe how you intend to reach your target market(s), and the advertising, direct mail, trade shows, and other methods you will use to secure sales Competitors and Market Distribution: Indicate the nature of your competition and how the market is currently divided.

Competitive Advantages and Distinctions: Show why your company will be able to compete successfully; list any important distinctions, such as patents, major contracts, or letters-of-intent Management: Briefly describe he histories and capabilities of your management team, particularly those of company founders Operations: Outline your key operational features, such as locations, crucial distributors or suppliers, cost-saving production techniques, etc.

Financial: Indicate your company’s expected revenues and profits for years one through three Long-Term Goals: Describe the expected status e. G. , sales, number of employees, number of locations, market share of your company- five years from now Funds Sought and Exit Strategy: Indicate how such money you are seeking, how many investors you plan to have, how the funds raised will be used, and how investors or lenders will get their money out. This form provides you an opportunity to outline the Executive Summary portion of your business plan if you choose to write a narrative type of Summary.

The Company: Describe how your company is organized, its stage of development, stage of product creation, legal status, location, and company mission The Concept: Explain the background of your company, how the product came about, how the market opportunity was recognized, ND the products and services Market Opportunity: Describe your target market, market trends that exist, why there was a need for the company, the results of market research, the competition, and market openings.

Competitive Advantages and Distinctions: Indicate why your company can compete successfully; list important distinctions such as patents, major contracts, and letters-of-intent; specify barriers-to-entry for new competitors. Management Team: Describe the background and capabilities of your key managers, and relate past successful business experiences Milestones: List he milestones by which you will measure success and at what date you expect to reach them; these might include specific revenue or profit levels, the percentage of market share reached, shipments of first product, and the number of employees or locations.

Health and Fitness: Healthy Out-of-Home Dining Choices essay

They have decided to tender a contract for a research company to get these answers and as luck would have it you have just started your own research company. Food Receivers Inc, has put out a tender for research companies to provide answers to ONE of the following questions. Food Receivers Inc is very clear that it wants a different research company for each question so your bid only needs to address one of these questions. 1 . What are the current attitudes and values of the general population toward the consumption of fast food and how can this be used to identify any opportunities or gaps in the market that this business could exploit?

OR 2. What are the issues related to quality productivity and professionalism amongst employees in this industry given the high reliance on casual and pa art-time workers who are often teenagers and who do not see these jobs as careers? OR 3. How does the local community feel about this business, given that the previous owners have left people without jobs and suppliers unpaid for services? What do people think in terms of the social responsibility of this company and will it have any negative impact on the company for future riding business models.

The Assignment Task You are required to pick ONE of these questions to focus on for your assignment. You are to write a bid to conduct a program of research for Food Receiver’s Inc. To uncover the answers to one of these questions. In your bid you need to outline the research design you would recommend and what data collection and statistical tests, if any, should be used to answer the question and you need to defend your recommendations with appropriate theory. When research companies bid for work in these cases they expect their proposals to be compared to other organizations.

You need to therefore consider this in the way you present the information in your proposal, in the language you use and in ensuring that all recommendations are well supported and defended. Remember that Food Receiver’s Inc is looking for this information to determine whether and under what business models, the business should continue. So your research proposals need to consider the managerial decisions that are going to be made with this information. Assignment Structure Your report should include the following elements: 1 .

A brief introduction identifying the question you have focused on and the aground for your bid (keep this short and to the point). 2. A short literature review or summary of secondary data from existing sources that relates to your research question (approximately 500 words) for example if you are exploring people’s fast food eating preferences then you might explore what is already known about the changes in food preferences, food values and society’s reaction to fast food. By contrast if you Were exploring consumer sentiment about social responsibility you would investigate what currently we know about this issue.

This literature review is specifically signed to provide background information on the issue (what we already know so that you can build on this knowledge); what previous research has been done in this area (what techniques and tools were used that you might also use); and what remains still unknown (the focus of this research). You should look to build on the research designs previously used in any existing studies; 3. A statement of the research question(s) and objectives for this piece of research – what is it you intend this research program to achieve and what questions it will address – keep this focused and brief; 4.

A commended research design and methodology justified and supported with appropriate theory (from the applied business research literature) and evidence that will best address the research question and provide answers to the receivers. This includes discussion about whether you are recommending a qualitative or quantitative approach (and why – justified and supported with theory), and within this what specific methods you are recommending (from the list of possible options) and why; 5.

Recommendations about the most appropriate sample unit and sampling methodology (also with justification) to attach the design you are recommending and in this discussion show you have identified issues related to the research ethics of this proposed research and how you will address these; 6. A discussion of the data (questions) that would need to be collected – being as specific as possible and showing evidence of an understanding of the form and level of data required to answer the research questions and how these ultimately will allow you to address the overarching research objective or question; 7.

A discussion of the type and level of analysis that should be conducted with this data to address he research questions (supported with theoretical justification); and 8. A discussion about the validity and reliability elements of your proposed research plan and any limitations of the research that should be considered by the Food Receivers Inc board when viewing your findings and suggestions. 9. Finally, a summary statement about how this design will address the issue that Food Receivers Inc is interested in exploring and will provide the answers to their questions – about one or two paragraphs at most.

You DO NOT have to collect data, actually design a questionnaire or conduct any primary search for this assignment. Format of the Assignment This assignment is to be presented as a full formal report (including letter of transmittal, executive summary etc) See the Communications Skills Handbook for more information if you are unsure of this format and the requirements. The assignment needs to be submitted through the study desk by the due date (see the study desk). Marking Criteria for Assignment 1 Below the standard required. Meets acceptable standard. 50 – Exceeds acceptable standard. 6 – 85% Far exceeds the required standard 86 – 100% Introduction of the program of research 10 marks The student has failed to provide a sound overview of their proposed program of research and does not clearly align it to one of the three key question areas proposed. The student has provided an acceptable overview of their proposed program of research and it aligns it to one of the three key question areas proposed. The student has provided a sound overview of their proposed program of research and clearly aligns it to one of the three key question areas proposed.

The student has provided a comprehensive overview of their proposed program of research and clearly aligns it to one of the three key question areas proposed. Short literature review 25 marks The student has presented a literature review that is below the standard required based on the following: Does not provides an adequate coverage of known research. Does not clearly identify the gaps that are linked to this program of research. Does not show evidence of a depth of analysis Shows little evidence of an appropriate standard of information literacy techniques.

Is largely descriptive with limited attempt to review and critique the information provided. Does not evidence alignment to the overall research objective and questions. The student has presented a literature view that is acceptable based on the following: Provides an adequate coverage of known research. Generally identifies the gaps that are linked to this program of research. Evidence of an acceptable depth of analysis. Shows emerging mastery of appropriate level of information literacy techniques 1.

Is largely descriptive with some attempt to review and critique the information provided. Shows some alignment to the overall research objective and questions. The student has presented a literature review that is very good based on the following: Provides and sound coverage Of known research. Clearly identifies the gaps that are linked to this program of research. Evidence of a good depth of analysis. Shows some mastery of appropriate level of information literacy techniques. Is generally not descriptive with a high standard of review and critique of the information provided.

Shows clear alignment to the overall research objective and questions. The student has presented a literature review that is excellent based on the following: Provides an excellent and detailed coverage of known research. Clearly identifies the gaps that are linked to this program Of research. Evidence of an excellent depth of analysis. Shows mastery of appropriate level of information literacy techniques. Is critical and analytical and reviews the information provided to a high standard Shows clear alignment to the overall research objective and questions. 6 – Statement of the research question The student has largely failed to identify one focused research project that aligns with their identified key research question areas. The student may not have provided a clear statement of the research question and objectives for this piece of research. The objectives do not appear to be measurable, rational, focused and or Leary relevant for the main program of research identified in the first section. The student has identified one focused research project that aligns with their identified key research question areas.

The student has provided a clear statement of the research question and objectives for this piece of research. In general, the objectives are measurable, rationale, focused and relevant for the main program of research identified in the first section. The student has provided a clear and well-articulated statement of the research question and objectives for this piece Of research. The objectives are measurable, rational, focused and are clearly relevant for The student has clearly justified one focused research project that aligns with their identified key research question areas.

The student has provided a clear, well-articulated and succinct statement of the research question and objectives for this piece of research. Recommended research design and methodology The student has presented a research design and methodology recommendation lack lacks many or all of the elements required as follows: theoretical justification for the design and methods proposed Consideration f the various merits and disadvantages of the various methods provided as further evidence of the final recommendation Alignment of final recommendations to the research question and objectives.

The student has presented a satisfactory research design and methodology recommendation and has included most of the elements required as follows: Attempted to use theoretical justification for design and methods proposed Some consideration of the merits and disadvantages of the various methods provided as further evidence of the final recommendation Attempted to show how final recommendations align to research question.

The student has resented a good research design and has included all of the elements required as follows: Good use of theoretical justification for the design and methods proposed Discussion and critique of the various methods provided as further evidence of the final recommendation Final recommendations show consideration of alignment to the research question and objectives The student has presented an excellent research design and has included all of the elements required as follows: Consistent and detailed theoretical justification for the design and methods proposed Discussion and critique of the various methods provided as further evidence of the final commendation Final recommendations show clear alignment to the research question and objectives Discussions about the sampling unit and methods of sampling The student has provided insufficient evidence of their understanding of issues related to sampling methods. Sample unit is either not discussed or poorly presented Sampling method does not clearly align to research question and objectives Appropriate and relevant theory has not been used to support and defend recommendations. The student has provided sufficient evidence Of their understanding of issues related to sampling methods.

Sample unit is adequately discussed and defended Sampling method aligns to research question and objectives Attempt to use appropriate and relevant theory to support and defend recommendations. The student has provided good evidence of their understanding of issues related to sampling methods. Sample unit is clearly and fully discussed & defended Sampling method aligns clearly to research question and objectives Appropriate and relevant theory used to support and defend most recommendations. The student has provided sufficient evidence of their discussed and defended to an excellent standard Sampling method aligns Leary to research question and objectives Appropriate and relevant theory used to support and defend all recommendations.

Discussions about data and analysis methods including issues of validity and reliability The student has provided an unsatisfactory level of discussion about the data to be collected and analysis techniques required for the research proposed. Little or no attempt to identify the questions to be answered Little or no attempt to address issues of levels of data and types of data Little or no attempt to align discussions about data requirements to data analysis Little r no attempt to discuss data analysis issues and recommendations made Few if any recommendations are supported with theoretical justification. No discussion on validity and reliability issues.

The student has provided a satisfactory level of discussion about the data to be collected and analysis techniques required for the research proposed. Attempted to identify the questions to be answered Attempted to address issues of levels of data and types of data Attempted to align discussions about data requirements to data analysis Attempted to discuss data analysis issues and recommendations made Most commendations are supported with theoretical justification. Issues of validity and reliability discussed in brief. The student has provided a good level of discussion about the data to be collected and analysis techniques required for the research proposed.

Marketing and Finance essay

Semisecret form MME says that rises not only reflect the history of prices but all publicly available information. 3. Strong form MME contends that prices reflect all available information, public and private (or “inside”). What could make markets inefficient? 1 . Large costs of acquiring and skillfully utilizing information 2. The existence of private information 3. Large transactions costs Does market efficiency mean you can throw darts at a Financial Post listing of Toronto Stock Exchange stocks to pick a portfolio? No. All it says is that, on average, a portfolio manager will not be able to achieve excess returns on a risk-adjusted basis.

What does it mean to say the price you pay for a stock is fair? It means that the stock has been priced taking into account all publicly available information. 14. 4 Chat conclusions about market efficiency can be drawn from available evidence? Evidence supports the weak form and semi strong form, but not the strong form, efficient market hypothesis. 14. 8 Chat are three implications of the efficient-market hypothesis for corporate finance? 1 . The prices of stocks and bonds cannot be affected by the company’s choice Of accounting method. 2. Financial managers cannot time issues of stocks and bonds. 3.

A firm can sell as many stocks and bonds as it wants without depressing prices. CONCEPT QUESTIONS – CHAPTER 15 15. 10 What is a company’s book value? It is the sum of the common shares, capital surplus and accumulated retained earnings. [1 What rights do stockholders have? 1. Voting rights for board members 2. Proxy rights 3. Asset Participation in case of liquidation 4. Voting rights for mergers and acquisitions 5. Preemptive rights to new shares issued. 0 What is a proxy? It is the grant Of authority by a shareholder to someone else to vote his or her shares. Why do firms issue nonvoting shares? How are they valued?

Management of a firm can raise equity capital by issuing non-voting or limited-voting stock while maintaining control. Market prices of U. S. Stocks with superior voting rights were found to be about 5 percent higher than the prices of otherwise identical stocks. 15. 20 What is corporate debt? Describe general features. Corporate debt is a security issued by corporations as a result of borrowing money and represents something that must be repaid. Its main features are: 1. It does not represent ownership interest in the firm. 2. Payment of interest on debt is tax deductible because it is considered a cost of doing business. . Unpaid debt is a liability of the firm. C] Why is it sometimes difficult to tell whether a particular security is debt or equity? Because it has characteristics that are particular to both. Companies are very adept at creating hybrid securities that are considered debt by CRA but have equity features such as being repaid in common 15. 30 What are preferred shares? Preferred stock is a security that has preference over common stock in the payment of dividends and in the distribution of assets in the case of liquidation. Why are preferred shares arguably more like debt than equity?

Preferred stock is similar to both debt and common equity. Preferred shareholders receive a stated dividend only, and if the corporation is liquidated, preferred stockholders get a stated value. However, unpaid preferred dividends are not debts of a company and preferred dividends not a tax deductible business expense. Why is it attractive for firms that are not paying taxes to issue preferred shares? Such low-tax companies can make little use of the tax deduction on interest. However, they can issue preferred shares and enjoy lower financial costs since preferred dividends are sign efficiently lower than interest aments. What are three reasons, unrelated to taxes, why preferred shares are issued? 1. Because of the way utility rates are determined in regulatory environments, regulated public utilities can pass the tax disadvantage of issuing preferred stock on to their customers. 2. Since preferred shareholders often cannot vote, preferred may be a means Of raising equity without surrendering control. 3. Firms issuing preferred stock can avoid the threat of bankruptcy that exists with debt financing. 15. 5 Chat is the financial gap? The financial gap is the difference between total spending and internal enhancing.

II What are the major sources of corporate financing? What trends have emerged in recent years? 1. Internal financing 2. External financing (new long-term borrowing, and equity) Debt/equity ratios Of Canadian industrial corporations have remained relatively stable in contrast with increased reliance on debt financing in the U. S. In the 1 9805. However, in recent years, with the cheap interest rates on debt financing, the debt levels of companies has increased. In addition to fixed assets, these financing sources will likely be used for investment in affiliates or acquisitions.

The increasing pace of globalization of markets and international competition will force companies to become larger and more international. CONCEPT QUESTIONS – CHAPTER 16 16. 1 Chat is the pie model of capital structure? It is a model in which the value Of the firm is pictured as a pie cut into debt and equity slices. 16. 2 Chewy should financial managers choose the capital structure that maximizes the value of the firm. Because this capital structure also maximizes the value of equity. 16. 3 Cicatrices financial leverage. It is the extent to which a company relies on debt in its capital structure.

D What is levered equity? The equity of a firm that has debt in its capital structure. D How can a shareholder of Trans Can undo the company’s financial leverage? By selling shares of Trans Can and buying bonds or investing the proceeds in another company’s debt. 16. 4 Achy does the expected return on equity rise with firm leverage? Because developers must be paid first, the cash flows to the shareholders become more variable, increasing the risk for the shareholders. 0 What is the exact relationship between the expected return on equity and firm leverage? RSI=ro + (ro – rub) (B/S)

C] How are market-value balance sheets set up? They are set up the same way as historical accounting balance sheets with assets on the left side and liabilities on the right side. However, instead of valuing assets in terms of historical values, market values are used. 16. 5 That makes a levered firm more valuable than an otherwise-identical unleavened firm? Interest payments are tax deductible and dividend payments are not. Therefore, there is a tax benefit with interest which can be retained by the shareholders. C] What is MM Proposition I under corporate taxes?

FL -VIC +ETC 0 What MM Proposition II under corporate taxes? S= ro+ (B/S)(1-Etc)(ro – rub) CONCEPT QUESTIONS – CHAPTER 1 7 17. 1 Chat does risk-neutrality mean? Investors are indifferent to the presence of risk. L] Can one have bankruptcy risk without bankruptcy costs? Yes. When a firm takes on debt, the risk of bankruptcy is always present but bankruptcy cost may not be. Why do we say that stockholders bear bankruptcy costs? Because in the presence of bankruptcy costs, bondholders would pay less for any debt issued. This then will reduce the value of potential future dividends. 7. 20 What is the main direct cost of financial distress? Legal and administrative costs of liquidation or reorganization. L] What are the indirect costs of financial distress? Those that arise because of an impaired ability to conduct business – such as loss of reputation, loss of customers, low employee morale, etc. [1 Who pays the costs Of selfish strategies? Ultimately, the stockholders. 17. 3 DHOW can covenants and debt consolidation reduce debt agency costs? Covenants can increase the value of the firm which is favored by shareholders as well as protecting bondholders.

They offer the lowest-cost solution to the shareholder-bondholder conflict. 17. Cellist all the claims to the firm’s assets. Payments to stockholders and bondholders, payments to the government, payments to lawyers, and payments to any and all other claimants to the cash flows Of the firm. Describe marketed claims and marketed claims. Marketed claims are claims that can be sold or bought in capital markets. Marketed claims are claims that cannot be sold in capital markets. C] How can a firm maximize the value of its marketed claims?

By minimizing the value of marketed claims such as taxes. 17. 5 DOD managers have an incentive to fool investors by issuing additional bet? Mangers may be able to fool investors to think that the firm is more valuable by increasing the level of debt. According to this theory, investors would then push up the price of the shares. However, since there are costs to this extra debt in the form of interest payments, the investors will quickly see through this and the share may actually fall below what it would have been if the debt was never issued in the first place.

Is there a cost to issuing additional debt? Yes, there is a cost in that the share price may fall below where the price should have been if the debt had never been issued. What empirical evidence suggests that managers signal information through debt levels? The empirical evidence concerning exchange offers supports the theory that an increase in leverage is viewed as a positive signal for the firm, and the share price increases. 17. 6 Chat are agency costs? Costs that arise from conflicts of interest between managers, bondholders and stockholders.

C] Why are shirking and perquisites considered an agency cost of equity? Because managers will act in their own best interests rather than those of C] How do agency costs of equity affect the firm’s debt-equity ratio? The optimal debt-equity ratio is higher in a world with agency costs than in a world without such costs. L] What is the Free Cash Flow Hypothesis? We might expect to see more wasteful activity in a firm capable Of generating large cash flows. 17. 7јWhat is the pecking-order theory? This theory states that when a firm seeks new capital it faces ‘timing’ issues of new stock.

The company will choose its form of financing going through a specific order of courses starting with the cheapest ( internal) to the most expensive. What are the problems of issuing equity according to this theory? The theory implies that only overvalued firms have an incentive to issue equity and given market reactions to a stock issue, virtually no firm will issue equity. The model results in firms being financed virtually entirely by debt. Moderating the pure theory, we would predict that debt should be issued before equity. What is financial slack?

If a firm expects to fund a profitable project in the future it will start to accumulate a cash reservoir today, thus avoiding the need to go to the capital markets. 17. 8 CHow do growth opportunities decrease the advantage of debt financing? Growth implies significant equity financing, even in a world with low bankruptcy costs. To eliminate the potential Increasing tax liability resulting from growing BIT, the firm would want to issue enough debt so that interest equals BIT. Any further increase in debt would, however, lower the value of the firm in a world With bankruptcy costs. 7. 9 Chow do personal taxes change the conch scions of the Modeling-Miller model about capital structure? Let TTS and TAB be personal tax rate on equity distributions and ordinary income, respectively. When TTS < TB , the gain from everage is reduced when Ts = TB , the MM with corporate tax result is unchanged. 17. 100 List the empirical regularities we observe for corporate capital structure? 1 . Most corporations have low debt ratios. 2. Changes in financial leverage affect firm value. 3. There are differences in the capital structure of different industries.

C] What are the factors to consider in establishing a debt-equity ratio? 1. Taxes 2. Financial distress costs 3. Pecking order and financial slack. CONCEPT QUESTIONS – CHAPTER 18 18. 10 How is the APP method applied? APP is equal to the NP of the project (i. E. He value of the project for an unleavened firm) plus the NP of financing side effects. L] What additional information beyond NP does one need to calculate NP of financing side effects (NEFF). 18. 2 the FÊTE Method applied? FÊTE calls for the discounting of the cash flows of a project to the equity holder at the cost Of equity capital.

What information is needed to calculate FÊTE? Levered cash flow and the cost of equity capital. 18. 30 How is the WAC method applied? WAC calls for the discounting of unleavened cash flows of a project (JIFF) at the weighted average cost of capital, WAC. 18. 0 What is the main difference between APP and WAC WAC is based upon a target debt rate and APP is based upon the level of debt. What is the main difference between the FÊTE approach and the two other approaches? FÊTE uses levered cash flow and other methods use unleavened cash flow. C] When should the APP method be used?

When the level of debt is known in each future period. 0 When should the FÊTE and WAC approaches be used? When the target debt ratio is known. 18. 50 What adjustments are required in capital budgeting for projects with beta differences from the firm’s? It requires adjustments on the discount rate o properly match the discount rate with the risk of the project. 18. 60 How do flotation costs and subsidized financing affect APP? Flotation costs reduce the APP, but subsidized financing enhances it substantially; the overall effect is enhancing. 18. 0 How is beta adjusted for leverage and corporate taxes? Leverage and corporate taxes increase beta. CONCEPT QUESTIONS – CHAPTER 19 19. 2 Cicatrices the procedure of a dividend payment. 1. Dividends are declared: The board of directors passes a resolution to pay dividends. 2. Date of record: Preparation of the list of shareholders entitled to dividends. 3. Ex-Dividend date: A date before the date of record when the brokerage firm entitles stockholders to receive the dividend if they buy before this date. 4. Date of payment: Dividend checks are sent to stockholders.

L] Why should the price of a stock change when it goes ex-dividend? Because in essence the firm is reducing its value by the amount paid out in cash for the dividend. 19. 3 њHow can an investor make homemade dividends? By selling shares of the stock. N Are dividends irrelevant? If we consider a perfect capital market, dividend policy, and therefore the timing of dividend payout, should be irrelevant. L] What assumptions are needed to show that dividend policy is irrelevant? 1. Perfect markets exist. 2. Investors have homogeneous expectations 3.

The investment policy and borrowing policy of the firm is fixed. 19. 4 Olin a perfect capital market, are repurchases preferred to dividends? In a perfect capital market, the firm is indifferent between a dividend and a repurchase. If the repurchase is financed with cash, the total value to the shareholder is the same under dividend payment strategy as under the repurchase strategy. What are five reasons for preferring repurchases to dividends in the real oral? 1 . Flexibility – The firm is not committed to repurchasing shares each year, as it is with dividends. 2.

Executive compensation – Firms with significant stock option plans will repurchase shares to maintain their float of shares within a desirable range. 3. Offset dilution- Firms will repurchase shares to offset other sources of dilution, other than just stock options. 4. Repurchase investment – If managers believe that their share is undervalued in the market, they will repurchase shares. 5. Taxes ? Repurchases attract a lower rate of tax than dividends for the shareholders. 19. Cyclist four alternatives to paying dividends with excess cash. 1 . Invest in capital projects 2. Purchase other companies 3. Purchase financial assets 4.

Repurchase shares of the company 0 Indicate a problem with each of these alternatives 1. Invest in capital projects – if the firm has already taken all the positive NP projects available, then it will end up investing in negative NP projects that will reduce firm value. 2. Purchase other companies ? premiums are required to be paid on acquisitions, and there are significant up front costs for an acquisition. 3. Purchase financial assets – The result of this depends on the arsenal tax rates, and will only be beneficial to the firm when personal tax rates are higher than corporate rates on dividends. . Repurchase shares of the company – We showed earlier that there are 5 potential reasons why a repurchase may be better than the payment of dividends for the firm. 19. 6 Chat are the tax benefits of low dividends? Because the tax rate on dividends at the personal level is higher than the effective rate on capital gains, shareholders demand higher expected returns on high-dividend stocks than on low-dividend stocks. D Explain the relationship between a stock’s dividend yield and its pretax turn.

The expected pretax return on a security with a high dividend yield is greater than the expected pretax return on an thinness identical security with a low dividend yield. 19. 7 Chat are the real world factors favoring a high-dividend policy? 1. Desire for current income 2. Resolution of uncertainty 3. Brokerage and other transaction costs 4. Fear of consumption out of principal 19. 8 њ How does the market react to unexpected dividend changes? What does this tell us about the dividends? About dividend policy? The market reacts to unexpected dividend changes.

Cruj final essay

Rule of Law: (US justice based on this) Our laws re based on rules and principles that stand day to day. 6. Legal Impossibility: 7. Conspiracy: When two or more people agree to do an unlawful act (or) when two people agree to commit a lawful act in an unlawful way (Example: getting your stereo from your ex girlfriend’s house by breaking in, and then never committing the act) 8. Malice aforethought: used to distinguish murder from manslaughter; this phrase indicates that the crime of murder is a deliberate, premeditated, and willingly killing another human being. 9.

Intent: Intent to commit a crime. Must prove intent. Men’s Rear) How to prove intent: threats- use to show what intent was; confession; facts of the case (example: shot 16 times) 10. Different Stages of a Criminal Case: Has to be a law in the books so people van see it Must have some investigation Then it is decided whether they will arrest you or not After the arrest, you will have first appearance (bail is set) Then, preliminary hearing in front of Magistrate; only to prove probable cause (do they have facts? ) Must have evidence Must establish jurisdiction Lawyers will try to plea-bargain. Most of the time this ends with a guilty plea) 1. Diversion: 12. Code of the Hamburg: defines crimes, punishments, civil actions, and remedies for them. They are the oldest set of laws (older than the Bible). 13. Magna Cart: established by the English and agreed to concept of Due Process. 14. Constitution: 15. Federal Courts: will go to federal court if you commit a federal crime. If you lose , federal prison violating federal law = statute (federal) 16. State Courts: Trials all state matters (Limited Jurisdiction & General Jurisdiction) 17.

Classical Theory: Committing a crime is a choice (choosing to rape, steal, etc) 18. Sociological Theory: Social institutions/groups create conditions that lead to behavior. Society is the root of the crime. 19. Psychological Theory: Crime is caused by psychological state. Repressing your feelings, mental illness, mall adjustment. 20. Standard of Proof: level of proof you have to have to win a case – by preposterous of evidence (more than likely not) beyond a reasonable doubt in a criminal case 21 . Motion to Dismiss: 22. Legality: 23.

DUE PROCESS: Due Process of Law = (fair process) based on procedure vagueness of a law (broad) (example: SC buggery statute is too vague (sexual relations with a east)) Due Process Model = need to protect innocent person’s rights, fair process, from constitution. Presumed innocent before guilty 24. Substantive Criminal Law: The Do’s and don’t of criminal law (Don’t shoplift, pay your taxes, don’t rape) 25. Procedural Criminal Law: Once you’re suspected of criminal activity, process you a put through enforcement, adjudication, and corrections. 26. Pardon: 27. Parole: conditional release before prison time is fully served 28.

Probation: (or suspended sentence) granted instead of prison time. Judges decide whether to grant probation. Defendant is free. Less expensive than putting him in prison. Probation can be revoked if one does not cooperate. Can only grant five years of probation in SC. Probation agents = handle 80-100 clients at a time. Overworked, helps clients access community service. Federal Probation Agent = must have a bachelors degree. Requirements of probation: Must maintain a job Place to live with address No alcohol or drug use even if you’re 21 Cannot work ATA place that serves alcohol If you want to move, must tell probation agent before the move.

If one fails to o any of that , probation officer will draft it and send it to judge and judge will send to prison 29. Furlough: 30. Halfway House: living in a house with people that are in the same conditions as you 31. Work Release: 32. Terrorism: Organized use of violence to promote political or social change. FBI = domestic terrorism only (only in the US) CICS = international terrorism (goes of country lines; does not work on US soil) Counter terrorism task force = share information about what’s going to fight terrorism; combination of all state and federal evidence. 33.

Cyber Crime: sing computers to commit crimes; certain things you cannot sell online: a) Firearms- trying to keep out of juvenile’s and terrorists hands b) urine- drug addicts can buy clean urine for drug tests c) Body parts- kidneys (kidney donors) d) Internet gambling Identity theft- leading cause of consumer fraud complaint 34. Incapacitation: lock people down so they can’t commit anymore crimes and to keep the general public safe 35. Retribution: getting someone back for harming others because he deserves to be penalized. (example: someone raping your girlfriend you pay them back for what they did) 36.

Deterrence: General Deterrence = giving someone a sentence with the hopes of people hearing about it so no one will want to do it Specific deterrence = teaching a lesson to someone who commits a crime 37. Dry. Martin Luther King: 38. Crimes Against Habitation: where you live Burglary = entering a building with the attempt to commit a crime inside (but no one can be present) Arson = burning someone’s house down 39. Crimes Against the Person: Homicide = murder, killing of one human by another Kidnapping = stealing a person, unlawfully restraining a person (example: ribbing a girlfriend and restraining her from leaving) 40.

Anthropology: The Study of Humankind essay

Capitalism Economic system that is dominant in Western culture. Elements of capitalism include private ownership of the means of production, creation of goods or services for profit or income, the accumulation of capital, competitive markets, voluntary exchange and wage labor. Cultural homogeneities Medical anthropology Study of the human experience with disease (and healing systems) in cross-cultural perspective Teeth medicine Health systems that exist in different cultures.

Includes everything from: perception and classification of illness to diagnosis and prevention to healing. Also includes anthropology of the body and focus on globalization and health Folk/popular medicine sass referred to monoester medical systems, usually thought of as ‘folk” or “popular” medicine Anthropology of the body -Cross-cultural variation in definitions of the body and relationship to illness and healing -In Euro-American scientific popular and scientific thought = division of mind and body Disease A biological pathology that is objective and universal. Ethic) In the disease -illness dichotomy, a biological, a biological health problem that is objective and universal. Illness culturally specific understandings and experiences of health problems and other forms of suffering (mimic) In the disease illness dichotomy, culturally shaped perceptions and experiences of a health problem. Structural suffering -Human health problems caused by such economic and political factors as war, famine, terrorism, forced migration, and poverty. Affect health in different ways, from depression to death -Western disease classifications do not account for structural suffering Oncology A branch of medicine that deals with the classification of diseases. Gusto Fright/shock disease, a culture specific illness found in Spain and Portugal among Latino people wherever they live; symptoms include back pain, tiger, weakness, and lack of appetite.

Culture-Bound Syndromes -A collection of signs and symptoms that is restricted to a particular culture or a limited number of cultures -Usually caused by psychosocial experiences such as stress or shock; no apparent biological cause *Toto *American Phobias Bulimia Culture-bound syndrome found mainly among white middle class adolescent girls of the united states, related to anorexia nervous. Anorexia Culture-bound syndrome found mainly among white middle class adolescent girls of the united States.

Symptoms include self-perception of fatness, version to food, hyperactivity, and the condition progresses, continued wasting of the body and then death. Diagnosis The act or art of identifying a disease from its signs or symptoms. Divination Illness causation theories -New contexts for contagion and exposure -Increased international travel/migration (TAB, HIVE/AIDS, Malaria, west Nile Virus) -populations expansion into forest areas -overcrowding in cities Western biomedicine A healing approach based on modern western science that emphasizes technology in diagnosing and treating health problems related to the human body.

Is a cultural system intimately mound to western values. Community healing Healing that emphasizes the social context as a key component and that is carried out within the public domain. Healers People in a certain culture recognized as having special abilities to diagnose and treat health problems. Some healing roles may have higher status and more power and may receive higher pay than others. (shamans, shaman us, herbalists, nurses, dentists, etc) Huh moral heal Eng systems Based on a philosophy of balance among certain elements within the body and within the person’s environment .

In this system food and drugs have different effects on he body and are classified as either “heating” or “cooling’. Ethnology is the study Of how people of a particular culture and region make of use of indigenous plants. Esophagi the practice of eating earthy or soil-like substances such as clay, and chalk. Is most often seen in tribal and rural societies among children and pregnant women, it is practiced by members Of all races, social classes, ages, and sexes. In some parts of the world, esophagi is a culturally sanctioned practice.

Ecological/epidemiological approach Examines how aspects of the natural environment interact with culture to cause health problems and to influence their spread throughout the population. Suffuses rights Colonialism and disease Globalization and disease Arrived medicine Interpretative approach Examining aspects of healing, such as ritual trance, as symbolic performances. Unnatural Causes (film) ……. Watch later Placebo effect A positive result from a healing method due to a symbolic or otherwise immaterial factor.

Critical medical anthropology Focuses on analyzing how structural factors, such as the global political economy, global media, and social inequality, affect the prevailing health yester including types of afflictions, people’s health status, and their access to health care. Metallization The labeling of a particular issue or problem as medical and requiring medical treatment when, in fact, the issue or problem is economic or political. Morbidity Sickness, that evidence indicates poverty is a primary cause of in both industrialized and developing countries.

Poverty and its synergy with disease Poverty creates a double bind: it both contributes to chronic conditions, and limits those who suffer from it access to healthcare. Cognitive retrogression A process in which medical dents relinquish critical thinking and thoughtful ways of learning. (usually in the first couple years of med school, memorization of facts, uncritical approach to learning) Demutualization A process where medical school training works to erase humanitarian ideals through an emphasis on technology and objectification of the patient.

Emerging and reemerging diseases New emerging health challenges. Since sass, emergence and re-emergence of infectious disease, HIVE and AIDS. Diseases of development A health problem caused or increased by economic development projects. *dams and irrigation systems cause increased dates of sadomasochists *obesity Sunray forest disease Medical pluralism -Refers to the presence of multiple health systems within a society. Pro: gives clients/patients multiple options with regard to diagnosis and treatment of health-related problems -Con: something may be classified as health problem in one system and not in the other World systems theory Clinical medical Identify the clinical manifestation of a disease. Application of anthropological knowledge to further the goals of health-care providers. World Health Organization Have endorsed the incorporation of traditional healing practices into national lath systems since 1978.

Traditional birth attendant -who is present when a woman is giving birth, different types of attendants have different roles in different cultures – For example among the Maya women in Mexico, the midwife is called I during the early stages Of labor to give a massage to the mother-to-be, she also provides psychological support by telling stories often about other women’s birthing experiences. – In the united states though hospital births are the norm Culture of poverty Person-centered ethnography Cultural broker Someone who is familiar with two cultures and can remote communication and understanding across them.

Forensics in Crime: For Humans and Wildlife essay

These elements of life are even evident from the historical remnants of the human race. Life elements like happiness, sorrow, work, elation’s, money, crime, science, healing and all the other odd and even strategies of life are the elements which make up our society. One of such an important but at the same unacceptable and unlikable elements is the element of ‘crime’, for which the human society has always been reluctant to pursue and had punished the criminals in different ways.

With the advancement of technology, criminals had found various ways to conduct a crime and human brain is a complex system of strategies, making the criminal more dangerous, but at the same time human had found more ways through which criminals could be caught and punished. One such way is called ‘Forensic’, forensic is the scientific techniques and methods used in the investigation and detection of a crime and an offense.

Positive and negative impact on Forensic fighting crime Police is using advance technology in various ways to bring lawbreakers to justice; for instance the scouring of a hard disc of a computer or a searching a broken vase deeply to find the invisible fingerprints and identifications at a crime scene helps identify the suspects of a crime. Not only forensic is limited to laboratory and to searching of such evidences like guns, fingerprints, blood pots, DNA reports, but also, with the help of forensic artistic unidentified face could be reconstructed which helps in the identification of dead body and other prospective.

One such example of police using and relying on forensic science and some other innovative crime solving expertise is the case of 2012 in Texas (Brown, 2014), where an anonymous deceased man body was identified with the help of forensic artist. This is not the only case in which police has used forensic science in crime explanation and also to close investigations, there are many other such examples.

Another example includes the rescue of twenty eight abused youngsters and as a result forty four verdicts, between the years 2013 and 2014 (Brown, 2014). This was accomplished with the help and usage of advance and innovative computer forensics by the Child Pornography Task Force. Despite the fact that today computer forensics is helping the police and is very effective in solving crime still the most effective method to solve crime cases is the method of ‘ballistics’, which is also among the oldest methods used in the crime scene.

In addition to the crimes related to human beings and the forensic science sighting against these crimes, today there is also emphasis laid on the forensic support provided for the wildlife investigators and managers in stopping criminals against animals and wildlife and also protecting the wildlife, more frequently endangered species of wildlife. The category of crime against the wildlife or animals includes the trading of endangered species, manufacturing and then selling of items produced from threatened or endangered species and the illegal hunting of wildlife.

The one and only laboratory in the world which is dedicated to the solving of wildlife crimes is The National Fish and Wildlife Forensics Laboratory, in Oregon (Pall, 2003). This lab works to find the source of the species under consideration and to analyze the forensic data and proof that could connect the specie to the abuse of wildlife law, and also to its human suspect. Sometimes the job involves forensics professionals to give evidence in court or even endeavor into the arena when gathering the evidence is complicated.

One of the cases involved three hundred headless walruses which were swept away up on the coastline of Alaska, in 1991 (Pall, 2003). In the United Kingdom (KICK) the investment into the forensic science has been increased, specifically in detecting the auto crime and burglary crime. The implementation of forensic science and techniques has positively impacted the crime situation and has considerably reduced the number of crimes and crime investigations. The techniques and identification methods such as taking and pulling finger prints from the crime scene has resolved one third of the total pending cases in police files (Burrows et al. 2004) One of the aspects which are negatively influencing the forensic science and the level of expectations people have room forensic evidence and science is the guidance given by the popular television shows related to the crime. The frequent viewing of such crime related television shows has a very negative impact on the people mind and on the legal decisions also. People expect more and quick results as the most of scientific analysis depicted in such television shows partially non-existent and also shows forensic work as racy, too glamorous and streamlined (Cole & Discos-Villa, 2007).

Certain apprehensions revolve about the alarm that adjudicators’ anticipations about the forensic science, in addition to the police recesses are molded by depictions in the fictitious crime programs and which impacts the constitutional rights of the crime victims and defendants (Tyler, 2006). All these Anticipated effects are considered to influence the judges, juries, judges, victims, defendants, witnesses, participants from public and moreover the lawyers (Goodman-Delaying & Await, 2006).

Although some of the postulated effects of such fictional crime shows are also positive, for instance better awareness of the forensic proof, data and greater than before inspiration amongst jurors. On the other hand, more of the effects are actively and undesirably framed, for instance assumption that an unjustified upsurge in offender exoneration’s will proceed when the forensic proof, or its nonexistence, does not counterpart flawed presumptions stimulated by the fictional media depictions of science.

However these all are speculations, which are highly publicized, in reality whether these speculations are true or not, they exist or not are unknown. These all speculations are research based and have no clear yes or no answer (Tyler, 2006). Over the past few years, increased emphasis has been laid on the importance on the collection of forensic evidence in a crime, nonetheless the empirical data about the types of forensic evidence collected, and to which level this data is succumbed to and inspected in forensic crime laboratories, is not evident.

In addition there is very less study present which defines the impact and role of such forensic evidence and indication on illegitimate justice results. Forensic proof can impact the decisions of case processing, but the impact is not even across all the crimes; the impact of evidence differ subject to the criminal offense, range of criminal evidence, the criminal judgment level, and few additional features of the event. A study conducted discovered that a very extensive data and forensic proof was gathered from the crime scenes and from the victims in case of homicides and, also to a reduced extent, rapes too.

Whereas the forensic evidence collection in case of burglary, robbery and assault, was very limited. Nonetheless Very little reported crime cases had forensic proof that connected a suspicious person to the crime prospect and to the victim. On the other hand, the verdict percentage for the criminals with connecting forensic proof was considerably higher than crime scenes without such proof. In addition, conviction degrees were greater for crimes with two or additional forms of customizing evidence that connected offenders with offense scenes (Peterson et al 2010).

A sum of causes has been recognized as to why proof may not be deferred to the crime laboratories. Law enforcement may not defer to evidence if a detective interrogates if an offense has, in reality, happened and if the detective inquiries if the case values full investigation. Investigators may also not submit evidence if a suspect had not been identified, if the investigator believes the case will not be charged by a prosecutor, and because of delays n receiving laboratory results because of long turn around tines. Equally important, even if evidence is submitted, in many cases, the evidence is not analyzed.

Conclusion In today’s progressively multifaceted world, we discover ourselves at relatively unique cultural and societal cross ways. Never in the human history, has the world been so reliant on the technology and on its numerous side-shoots and manifestations. More or less every facade and aspect of our everyday lives is affected to some degree by the technology and techniques, for instance internet, mail, online banking, and others. This dependence and also penitence on technology to some level, has had a ripple effect on other less understandable areas of civilization.

One of the areas is law implementation and, more precisely, criminal inquires and investigations. From very long time in past, criminal inquiries relies on such ideas as eyewitnesses, confessions, and physical evidence. These are forensic science and use of forensic science in criminal fight has mostly been taken positively and has positive impact on a crime case. In the present day, the criminal detective must distinguish that an immense amount of proof are also present in the digital and electronic form. The criminality scene may comprise of a network and computer system, as contrast to the conventional physical scene.

The Theory on Faces and Object Recognition essay

An Object model Of recognition we will kick at is Mar and Insignia’s special process used to generate an object centered D description, ND a facial recognition model we will compare this too will be the Connectionist model in which there is a structure which taps into the next resource of information available to the viewer. Recognizing faces and objects are considered separate processes and there has been debate over which process this is, if its innate or if its learned.

The debate stems from the question as to whether recognizing faces is a special process and takes separate neurological pathways than that of recognizing an object. Theories of expertise recognition suggest that we have a specified skill in recognizing aces which are different from the recognition of objects due to the exposure and social deterrents that faces have on us, using people in a field Of another skilled recognition, e. G. Dog show judges to test if there is a difference between faces and just other expertise objects.

In objection of this idea is the theory of Domain specificity, which indicates that the reason faces are processed differently is because of the different neural structure the brain uses to process a face than that of an object, using fem. scan from Prognosis (the inability to recognize faces) patients and Copperas delusion patients who do not recognize objects) to further their argument that the process happens in two different regions of the brain, not just because we are more skilled at facial recognition, but that facial recognition is a special process.

Mar and Insignia suggested three-dimensional objects are recognized by breaking them up into generalized cones, you can do this by observing the ‘occluding contours’ (the objects silhouette). This analysis allows any object to be described within a canonical coordinate frame (the process which involves the description of all standard objects). There is 3 steps to this process, 1 .

Derive the object shape by the following three assumptions, (a) each point on the silhouette matches only one point on the D object, (b) points near each other in the D image are near each other in the D object and (c), all points on the silhouette lie in the same plane. If any of these assumptions do not match, the object may not be recognized properly. Step number 2, Locate the objects component axis and derive a D description, you do this by dividing the object into component parts by linking areas of concavity, you then find the axis for each of these dividends and then link all together to form the D ascription.

Step 3 is the comparing this D description to a mental catalogue of D models all previously seen and stored, the more descriptive matched the more detail at each level surfaces, when the match is found the process stops and the object is recognized. Studies to support Mar and Insignia’s module include Lawson and Humphreys (1996) experiment in which patients were shown line drawings in where the major axis was rotated, making it difficult to locate, the results showed that recognition was negatively affected.

Arguments against this model suggest that if all conversions of an object can e generalized to cones then all exemplars of the cones would be assigned to the same category, meaning we would not be able to tell the difference between in-been-categories, also a fall back to this theory is the extensive capacity for a stored catalogue of images a person must have for comparison.

Similar to Mar and Insignia’s model of recognition is The Connectionist model of facial recognition, this model also uses the idea that complete analysis happens in stages involving more information at each level, it derives from a simpler older model referred to as a cognitive theoretical framework y Hay and Young (1982) Young et al (1985) and Bruce and Young (1986).

Burton and Bruce (1993) developed the IAC Interactive activation and competition network) model, the model compromises of units which are organized into pools, the pools consist of Frog’s, there is one FUR for every familiar person seen which then leads to the activation of the PINS, this is where a face is classified as belonging to a certain person and confirming the familiarity of that person, if the PIN is activated then it will lead to ISIS where semantic information of the person is stored (occupation, nationality, etc. ND then finally onto Lexical output, which would be for example, their name. These links are bidirectional and excitation can also run up the way from PIN to FRI. also. Like the above object recognition model, any error in these stages can lead to mistaken recognition; Young et al (1985) conducted a study to further the legitimacy of the theory by using 22 participants to record their recognition mistakes in a diary over the course of 8 weeks, 3 groups of errors were found, 1.

Mistaking someone familiar as unfamiliar and vice versa, 2. Being unable to ‘place’ someone and 3. Recognizing someone but rejecting it cause of doubt. The model can be used to explain a number of different phenomena in the everyday process of recognizing people, and the findings of the study itself are consistent with the notion that the recognition of faces involves a sequence Of processes using different types Of information.

Propagandist is the inability to recognize faces whilst maintaining the ability to recognize other objects, Young et al (1993) conducted a study to show that although conscious awareness of the face if affected, unconscious awareness may not and that recognizing someone’s face may be an entirely different recess to emotion or expression detection, in their study they found the participants with unilateral focal lesions displayed different types of dysfunction, their findings showed that participants had the ability to recognize familiar faces, ability to match unfamiliar faces and identifying facial expression occurred independently.

The results suggested that facial recognition may be overt (conscious) being aware of recognition or covert (unconscious) responding without knowledge of who the person is. Another phenomenon termed the Copperas delusion is the belief that a person lives someone they know, usually familiar like a relative or a close friend, has been replaced by an imposter, this is because they recognize the face but they simultaneously refute its authenticity, and do not convey the same emotion they would for the ‘real person’.

The expertise model suggests that the IAC model can explain these phenomenon by the weakening of the connections between Frog’s and PIN’s, so that the next Step is not high enough for conscious awareness. Theorists of Domain specificity argue that if facial recognition can be affected separately from object recognition it clearly implies that the neural pathways for recognizing faces are special compared to those of objects and take different neural processes to work.

One of the hallmarks of face processing is that faces are processed Holistically, also called configured processing, seeing the face as a whole rather than an array of separate parts. Studies into what is known as the Inversion effect support the domain specificity debate and the configured processing idea, showing when a researcher inverts a photograph it impairs recognition more so than inverting a picture of an object, e. . A table or a boat. Yin (1969) who’s inversion studies showed that we have better memory for faces than other objects and that inverting a face disrupts it recognition more than inverting an object by testing participants with stimulus material such as house and airplanes.

Diamond and Carrey (1986) tested the alternative hypothesis using the expertise model to test the inversion effect and found when they tested dog-experts, the were just as likely to be affected by the inversion of the dog than human faces, they interpreted these findings in that face recognition is not a separate process to object recognition, but that we evolve special expertise at recognizing faces, they explained this happens by using First order properties, that help us to recognize it as a face by calculating spatial relationships between eyes, nose and mouth and Second order relational properties, helping us to say who belongs to this face being by being able to calculate how far apart features are from each other.

McKeon et al retested Diamond and Caress hypothesis and failed to replicate the original result, instead, found no difference between experts and non experts for the inversion of the dog pictures at all. Recent studies into domain pacifistic show particular activation in the site of the FAA (fusion face area) from fem. scans, this is an area also implicated in propagandist when damaged, this area responds twice as strongly to faces as to other object classes, it also reflects the classic behavioral markers of face processing, being greater sensitivity to differences between individual upright faces then differences between inverted faces. In addition to the fem. scans, further studies in monkeys using the ultimate high resolution method found that 97% of visually responsive neurons in this region were strongly face selective.

Whereas the Expertise model suggests that children needed ten years of experience of facial exposure to develop the ‘hallmarks’ later used for recognition, the domain specificity theory suggests the face template has developed by one of two suggestions, through evolutionary processes by 4 stages, 1. An innate template with the basic structure of a face must be developed, secondly, the grouping of neurons in the FAA for good facial recognition, thirdly, activation of this template must rely on appropriate input during sensitive period, for example, a normal amount of facial exposure urine infancy in a standard upright position, explaining difficulty in adults recognizing inverted faces.

The second suggestion is more vague but in keeping with the necessity for biased exposure to faces in infancy, without any sort of innate face template, but from a different factor, hence the name ‘the infant experience plus other factor theory, although the other factor is not clear, it accounts for variability’s in recognition. McKeon et al argue that if the expertise theory were true and that face processing becomes special through continuous exposure to faces and that he skill is no different from other forms of visual ‘expertise’ practiced though learning, people have an ample opportunity to develop expertise with such other parts like hands or body shape, adults fail to do this and remain poor at identifying these parts compared to the face.

They state that it IS clearly not genetic expertise as if it were, then objects of expertise should be processed in the same way as faces, instead, they argue, there is significant evidence from the use of fem. scans that the adult visual systems contain specific systems tuned to recognize faces. The confounding evidence for the Expertise hurry lies in Diamond and Caress dog expert study in which has not been found to replicate the same results in any further research. Although the two theories are different in approach, they do share the ‘attention explanation’ and suggest that efficient exposure to faces in early infancy is necessary for the development of recognition in adult life, McKeon et al suggest this equally explains any weak expertise effects observed in the FAA for non face objects.

Consciousness vs. Epiphenomenon: The Mind Game essay

John Sear (2013) described consciousness of our awareness of being present, the feeling of our feet on the floor, the knowledge that people are listening to you, that you are speaking,the size of the room and ringing all of this knowledge together. Anthony P. Atkinson (2000) defines four aspects of consciousness. 1 . Access consciousness meaning the ability to report and act on our experiences. 2. Phenomenal consciousness meaning the qualitative nature of experience, what is it like to feel like you. 3. Monitoring consciousness refers to our awareness of ones sensations and perceptions, and 4.

Self -consciousness, thoughts about our awareness of oneself. Epiphenomenon’s refute that these concepts of consciousness actually serve any function and are just a by-product of physical events, in there words, mental events (thought) cannot affect physical events (sense organs, contractions etc). Studies on implicit learning show that we can ‘remember’ things without having any awareness of remembering them. Neumann and Struck (2000) showed that peoples mood can be affected by the mood of others around them, even when they are unaware of their mood changes.

In contrast, Murphy and Cajon (1993) conducted a similar study proving that it only takes minimal processing for emotional responses to be triggered, but cognitive processes require longer processing times. Lieberman 2000) argues that priming of mood states underlie what is commonly known as the phenomenon ‘intuition; our ability to judge social situations and respond appropriately without being aware of the information on which we base our judgments. Bearing this study in mind, does consciousness have a function if learning can happen unconsciously?

Biddable and Wilson (1994) conducted an experiment to try and prove a function of consciousness; he OFF argues that awareness of our memory for past errors help us adapt our behavior by learning from our mistakes. If consciousness does have a unction, to what extent does this function affect our lives? Progress is slow but an advancement of behavioral data and neurophysiology data is aiming to answer what is consciousness and what is consciousness for. Studies on the unconscious influences on behavior seek to prove that consciousness is merely a by-product of brain processes.

Neumann et al (2000) conducted an experiment where participants listened to text read in a sad voice and were then asked to rate their own mood. Participants were unaware that their mood had changed as a result of listening to the sad voice. Similarly Barge, Chem. and Burrows (1996) studied the effect priming has on behavioral influences. Barge et al (1996) asked participants to arrange lists of word to form meaningful sentences. In the experimental group, each word list contained words specific to old age, for example, ‘wrinkled’ or ‘ancient’.

After the task was completed, researchers timed the participants leaving the room. The experimental group left the room much more slowly than the control group, who had not been exposed to the primes. Barge et al. Argued that the participants in the experimental group activated an old age territory and behaved accordingly without ever noticing the primes. Another common way of demonstrating implicit learning is by using subliminal presentation. This form of presentation appears and disappears so fast usually the participant has only recognized a flash.

Marcel (1983) conducted an experiment asking participants to identify real words from made up words. The study showed that participants were more likely to identify ‘doctor’ as a real word when preceded by a brief presentation of the word ‘nurse’. The word ‘nurse’ being the prime, or subliminal presentation. This research combined seeks to prove that learning can happen without conscious awareness, leading them to the argument that learning is not dependent on consciousness. A major downfall here is that there is no way to determine participant’s awareness of the stimuli or key relationships while they are doing the task.

You cannot simply ask them if they are aware of the stimulus as this will draw attention to it and hence override the chance to demonstrate learning with out awareness. The only way to determine awareness is to ask participants afterwards, and this relies on participant’s Emory of what they were aware of during the task, which is not reliable either. Another limitation is it difficult to test whether all stimuli are subliminal for all participants as some stimuli are easier to perceive than others.

It must be considered also that subliminal presentation depends on the efficiency of the equipment used to present the stimuli. Stimuli presented too quickly may not be seen at all, hence no subliminal learning will happen, and stimuli presented for too long leads the participant to identify the stimulus. It should be considered throughout these studies that implicit memory may not of cached the ‘threshold’ of consciousness or has not been processed by a ‘conscious memory module’ when only small amount of learning has occurred.

One way to ensure complete lack of awareness of stimuli in participants is to study learning in people who are unconscious. Jackie Andre and Catherine Depose (2004) conducted such a study by playing words to patients during surgery, whilst being under anesthesia. When the patients came back around from their deep sleep, they were asked to complete word stems with the first word that came into their mind. The words that were played during their time under anesthesia were more likely o be used to complete the words stems. Depose et al. Included they had effectively primed memories in someone who is unconscious. Although Depose et al. Used EGG measure to ensure the depth of sleep was level throughout the experiment; participants were only tested for words they already knew. There was no new information learned while the patients were unconscious. Research into the function of consciousness can be seen using experiments on controlled processing. Controlled processing is a conscious action, used to override automatic processes like habitually adding milk to coffee etc. Controlled processes typically coincide with consciousness.

Schneider and Shuffling (1977) used a target search task’ where participants were required to detect targets as quickly as possible for arrays of distraction. The experiment had two conditions, consistent mapping and varied mapping. In the consistent mapping the targets were always selected from the same set of items and distraction were always from a different set. For the varied mapping, targets and distracted were always from the same set. On a given trial, participants saw and memorized the set of targets. Then saw a sequence f frames.

Their task was to determine whether any of the memorized targets appeared in the sequence. In consistent mapping performance was fast. In varied mapping performance was much slower and slowed further by increasing the target number. Schneider and Shuffling argued that varied mapping depends on a serial search through each frame, taking longer to identify the target. Consistent mapping depends on an automatic search leading to a much faster identification. The results from this experiment can be used to support the theory that consciousness allows for controlled processing.

Although the experiment can determine one function of consciousness, it does not tell us whether our behavior is controlled by our consciousness, or whether we only become conscious of our behavior when we deliberately take control over it. Cajon et al. (1993) tested the hypothesis that emotional or affective responses only take minimal processing but cognitive responses require more processing. Participants were tested by being asked to rate their liking of Chinese ideographs, the ideograph was presented just after a prime. The prime was either subliminal or optimal and consisted Of one Of four trials.

No-prime control 2. Irrelevant prime control 3 Positive affective prime trial 4. Negative affective prime trial. The results showed that ideographs were rated as more pleasant when preceded by a subliminal positive prime, but had no effect on optimal prime. Murphy and Cajon (1993) argued that being aware of the prime and their mood change they could ignore it when rating the ideographs. Their experiment suggested that consciousness of primes allowed for participants to override their affective response to them when judging the ideographs.

It can be concluded that affective priming suggests that conscious processes elf us make rational rather than emotional decisions. These different studies on consciousness lead researches in the field concluding different theories of the function of consciousness. Biddable (2000) suggested that working memory is necessary for consciousness. Whereas Bars (2002) argues that consciousness is necessary for working memory. He describes consciousness as a global workspace, functioning to bring all processing modularity’s together.

Bars describes his theory of global workspace by using the following metaphor; in the theatre of consciousness, the spotlight Of selective attention illuminates the stage (working memory), revealing the contents of consciousness to the audience (the unconscious) and thus bringing together the products of modular processing. Bars draws on neuroscience evidence to support his theory using Deanne et al. (2001) fem. study on comparing seen and unseen words in a visual masking paradigm. Another way of studying people in altered states of consciousness is by examining their behavior during hypnosis.

People are able to perform surprising and impressive tasks under hypnosis like speaking ‘forgotten’ languages and recovering memories from childhood. Consciousness researchers suggest this is because consciousness plays a part in what they call ‘reality checking’. They suggest that while conscious, we have a normal tendency to check out mental contents against the outside world. In contrast, with reduced states of consciousness we are less likely to check the hypnotist’s suggestions against what we know to be true.

This leads to the belief that consciousness plays a part in operating with or on a selected portion of the information that is flooding through our senses everyday. A problem with this theory is that it can be argued that hypnotherapy can be he result of social pressure to conform with the hypnotists suggestions, although this may be the case on occasion, it does not account for some of us reprising feats people can perform, like undergoing surgery without painkillers or anesthesia. Consciousness can only be studied using implicit memory tests or by looking at subjective experiences.

Implicit memory tests have proven to be an unreliable source of evidence time and time again. Most of these studies employ a comparison of conscious and unconscious cognitive processes, because these studies are based on behavioral data they are often not accurate and can be inconsistent. Although neurophysiology data can provide us with some evidence to the existence of consciousness it still leaves a lot of questions to be answered, such as if consciousness is associated with a specific localization or it works by Bars theory (2002) suggesting it is associated with global brain activity.

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Which has been proven not to be true, which causes our hillier too often to misdiagnosed or labeled with other diagnosis by social workers, therapist etc. Without first looking into their background for any trauma exposure it will reveal the different ways that children are affected through exposure to domestic violence, social, emotional and behaviorally l. Emotional Effects A. Feeling of Responsible for the violence Shame 2. Confusion Depression . Helplessness Powerless Behavioral Effects Ill. Kids act out in different ways Aggressive Withdraw B. Overachiever vs.. Underachiever Acts out attention-seeking IV. Ridged Defenses

Children develop defenses Sarcastic Blaming Inappropriate roles of children . Parent Siblings V. Social Effects Children have problems building relationships 1. Isolates Difficulty try gusting Poor conflicts skills . Poor peer interaction Lack of communication skills Children are affected through exposure to domestic violence in different and children who are affected through exposure society feels it doesn’t have any affect or minimal effect on children and adolescence. Which has been proven not to be true, which then causes our children too often to misdiagnosed or babbled with other diagnosis by social workers, therapist etc.

Without first looking into their background for any trauma exposure. By doing this research this paper it will choose this particular outline sequence because it was very easy to follow, it made me think of all the important information would want my paper to capture, plus it gave me a guide on how to write my paper without over writing and making sure I stay on task with my writing. I also found that it gave me some structure, that when developing the body I have all the points ND information need that will help my paper flow and the reader to get a full understanding of my paper.

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