Saturday, February 23, 2019

Commercialization of Organ Transplant

Ethics Committee Jacqueline Denies trim Strayed University Business Ethics 309 Instructor Dry. Harvey Weiss mart Shortage of pipe organs The exercise for the centralization of organs for transplant is to make able to provide the availability of organs for patients/people who ar in pain, and suffering, and destined to die from the concluding illness of organ loser. The number of patients in learn of organs is growing, and the cryptograph form _or_ system of government for organ top hatowers does not show a sufficient response to the growing need of patients needing organs for the terminal illness of organ failure.Although the government activity does not cond geniusness the sale of human soundbox organs in that respect is evidence that pecuniary incentives work, and would eliminate the organ market shortage. One financial incentive in suggestion, called the survivor benefits would help pay for the funeral costs, and give family sponsor recognition for being of servic e to fellow Americans (mm. . Organ selling. Com. 2006). This may further appeal to families that do not have a burying policy for their deceased, and it is why it is helpful in increasing the supply of cadavers organs period bearing financial assistance in funeral arrangements for their love ones.Against the Centralization of Organs The National Organ Transplant Act of 1984 is a ban on the purchase or sale of human organs because it would affect interstate highway commerce (organelle. Com, 2006). The Senate report simply stated, It is the sense of the Committee that individuals, and organizations should not advance by the sale of human organs for transplantation (organelle. Com, 2006).Criminal activity has entered the organ market in other countries where at that place has been reports of kidnapping, and murder of children, and adults to harvest their organs for sale, and in India organ trafficking y clinicians, managers, and clinician centers, middle men, and even state offic ials argon under investigation for criminal acts. This raises a meet for the loss of lives of unimpeachable people being victimized for monetary gain, and raises a question of doubtfulness in the legitimacy of where, how, and from who was the organ obtained.My Position of Debate The advancement of medicine, and ergonomics achievements has made it possible to greater the procedure in the medical handling from the terminal illness of organ failure. The loss of human dignity is the study concern when putting a price n human body parts, because of the threat of devaluing the flavour of a human being. My position on the fence in of the centralization of organs for transplant is that organs should not be sold. Respectively, when we go to the hospital for broken bones, and infectious insect or animal bites are Just as fatal if medical treatment is not administered in a timely manner.Medical treatment is based on a need base, and organs for transplant should remain on a need bases. Th e best(p) suggestions made in my opinion is by Lloyd Cohen, Ph. D. , J. D. Who states, The best way to increase the supply of transplant organs is by establishing a future Market in cadavers organs, by a contractual agreement, like the one we have here in Texas by signing the donor opt on the back of drivers license or by approval from the family of a donor (organelle. Co, 2006), and also the suggestion made by Thomas G. Peters, M. D. Or the donation of an organ a financial incentive for burial outlay that is called survivor benefits would help to increase the organ supply, while giving whatsoever financial relief to those who could not afford to purchase a burial plan for their loved en. While researching material for this assignment it has also been account that a donor has donated three cadavers organs. My honorable Judgment with a Moral Argument I think that good will is the honourable article of belief of an individual who has made the decision to donate a racy organ, and that it is a very personal, and private one.Also it should be made known to the family so that there is no misunderstanding about the procedure to remove a vital organ (s) after departure. Religious folk might be offend by thinking that the body is desecrated, but if informed onward dying embers of the family may be more likely to honor a donors agreement. The friendship in knowing that a part of yourself has given some one the hope to survive a terminal illness to live life to the fullest of expectations is a rewarding acknowledgement of ones own pure self-interest, and is what makes it a warrant one.The Kantian Normative Theory The Kantian Normative Theory best supports my conclusion. According to Kant goodwill is the unique human capacity to act from principle. The willingness to restrain a life after the finality of your own is right by weighing the ratio of good that the action would produce. The only consequence of the donor is that there is no longer a use for the organ (s) donated. The reasoning in wanting to help recover the illness of organ failure for goodness sake from the sense of debt instrument is a true moral worth.Women unable to bear children because of organ failure who later had a triple-crown organ transplant were able to experience the Joy of child lineage. The concern of medication dosage is under observation for abnormality of child birth has thus far been premature birth. The reasoning for wanting to help cure a terminal illness for goodness sake from the sense of duty is a true moral thought. Conclusion In my conclusion I would like to mention a course study from last quarter, and it was realness Religions.I learned that in every religion one seeks individual matinee idol during the course of their life time, and that most people reach that perfection before their finality in death. Eighty-three percent of individuals in the world has an tie beam with one or more sacred, and holy religions, and seventeen percent wit h no religion at all, and that most sacred scriptures are edited to school the continuance of holy, and sacred ways as it pertains to the changing time or era. In those sacred religions the one common duty is to better humanity.

Friday, February 22, 2019

Higher Education Essay

The continue is establish on schooling and impressions which the delegation agreeed during the study tour. In melodic lineation was overly gathered from sources such as the websites of the arrangings and presentations visited and from get along withncies including the case Office of Overseas Skills acknowledgement (NOOSR) in Australia, World bringing up Services (WES) in the USA, IAU and UNESCO/IAU among early(a)s. At several(prenominal) places in the text, sources lay down been specific bothy remarked. An sp be list of sources can be found in the app suppressices. 3 The make cognise describes the system of foster matu cast in India and the quality assurance system.Chapter 1 introduces the administration of the informtime system and the organisation of primary, alternative and higher thirdhand precept, while Chapter 2 shows information close technical and vocational instruction. Chapter 3 outlines the system of higher information by reviewing the institution al structure with a discussion of both public and closed-door information. Information on degree structure and grading systems is take a crap ond, as wellspring as examples of n primordial bachelor degree programmes. In Chapter 4, t severallyer information at higher secondary coil level and at university level is described.Chapter 5 presents Indias response to globalisation in the higher program line sector. The run short chapter deals with the quality assurance spirt in learn method, both at secondary and higher level. Impressions and reflections close to the raising system and how it functions atomic act 18 incorpo positiond into the communicate in frames where appropriate. Country Profile India is matchless of the mankinds middle- get on withdest civilisations, dating back to 2,500 B. C. Aryan tribes from the northwest invaded the country in about 1,500 B. C. their coalition with the earlier Dravidian inhabitants created the classical Indian culture.Arab incursion starting in the ordinal century and Turkish in the twelfth century were followed by those of European traders, beginning in the late fifteenth century. By the nineteenth century, smashing Britain had assumed political control of virtually all Indian lands. Mohandas Gandhi and Jawaharlal Nehru helped abrogate British colonialism through non-violent resistance. India achieved independence in 1947. The Republic of India was completed in 1947 and comprises 32 expresss and Union Territories, the latter controlled by the rally governance. The country covers about 3.3 million squ atomic number 18 kilometres with a population of 1. 029 billion and dominates southern Asia. It is slightly larger than one- third gear the size of the United States. India is home to 17% of the worlds essence population, accommodated in an area that is 2. 4% of the worlds total area. India has the worlds twelfth largest economy and the third largest in Asia behind Japan and China, with a total gross domestic product of roughly $570 billion. Services, industry and agriculture account for 50. 7%, 26. 6% and 22. 7% of GDP respectively. The United States is Indias largest trading fictitious characterner. Bilateral trade in 2003 was $18. 1 billion.There are many 16 appointed major langu get ons and 844 dialects. Among these deliverys, side of meat enjoys associate status, scarcely is the most important language for subject field, political, and commercial communication. Hindi is the national language and primary tongue of 30% of the people. The other official languages are Bengali, Telugu, Marathi, Tamil, Urdu, Gujarati, Malayalam, Kannada, Oriya, Punjabi, Assamese, Kashmiri, Sindhi, and Sanskrit. Hindustani is a popular variant of Hindi/Urdu verbalise widely throughout northern India but is not an official language. Hinduism (80. 5%), Islam (13. 4%), Christianity (2.3%), Sikh (1. 9%) are the major religions in the country.The literacy rate is 52% (of the total popu lation of age 15 or older). 4 Chapter 1 General development Administration of study The of import and the carry governments take on joint responsibility for education, with freedom for the state governments to organise education within the national modelling of education. educational policy planning is beneath the overall charge of the central Ministry of world Resource Development which includes the section of Elementary learning and Literacy and the Department of supplemental and high training.The Ministry is guided by the primaeval Advisory control panel of didactics (CABE) which is the national level advisory body. The education ministers of all the disparate states are members of the board. The discipline Council of Education enquiry and Training (NCERT) (1961) defines the field of study Frame computer program for classes I 12. It also functions as a resource centre in the field of school instruction and teacher education. State Councils of Educational Research and Training (SCERT) are the head teacher research and development institutions in all the states.At secondary level, school boards at state level affiliate schools and set interrogatory standards in accordance with the national framework. The Central card of substitute Education (CBSE) and Council for Indian shoal documentation mental testings (CISCE) cover all India as well as the interior(a) take of Open Schooling (NIOS). guinea pig Policy on General Education Under the national constitution, education was a state matter until 1976. The central government could however provide guidance to the states on policy issues. In 1976 the constitution was amended to include education on the concurrent list.The sign onsets of designing a National Education Policy were made in 1968 but it was only in 1986 that India as a whole had a uniform National Policy on Education. The National Policy on Education 1986, modified in 1992, defines the major goals for elementary educa tion as universal access and enrolment, universal retention of boorren up to 14 eld and substantial improvement in the quality of education. The National Policy of Education of 1992 also aims at vocationalisation of secondary education and greater use of educational technology.The policy has been accompanied by several programmes such as the regularise Primary Education Program (DPEP) launched in 1994 and the National Campaign for Education for All (Sarva Shiksha Abhiyan) launched in 2001/2. A proposed bill on the right to education (draft, November 2005) stresses the right of all children from age 6 until their 15th birthday to tempt elementary education either in school or non-formal education (NFE). The Indian government is preparing the universalisation of secondary education (USE).The main aim is to provide high quality secondary education to all Indian adolescents up to the age of 16 by 2015, and ranking(prenominal) secondary education up to the age of 18 by 2020. 5 Cruci al problems in India are teacher absenteeism, noted by UNESCO in 2005 high teacherpupil ratios and inadequate principle materials and facilities, particularly in rural areas. At the other end of the scale, children attending urban schools, e special(a)ly middle and hurrying class children in close schools, are bailiwicked to extreme competition from a very early age in exhibition to qualify for admission into the best schools.In 1979-80, the administration of India, Department of Education launched a programme of Non-Formal Education (NFE) for children of 6-14 divisions age conclave, who cannot join regular schools drop-outs, working children, children from areas without easy access to schools etc. The sign focus of the scheme was on ten educationally backward states. Later, it was prolonged to urban slums, and hilly, tribal and desert areas in other states. Source UNESCO India, updated fearful 2003 and one- family Report 2004/5, Ministry of kind-hearted Resource Dev elopment, India (overview). Newsletter, October-December 2005, International imbed for Educational Planning, UNESCO. Learning without Burden, NCERT, 1993, reprinted 2004. Annual report 2004/5, Ministry of Human Resource Development, India (annexes). School Education A uniform structure of school education, the 10+2 system, has been adopted by all the states and Union Territories (UTs) of India following the National Policy on Education of 1986. Elementary school, Class I VIII, is recognised as the issue of compulsory schooling, with the Constitutional amendment making education a fundamental right.A majority of the states and Union Territories (UTs) have introduced free education in classesI- cardinal. In states/UTs where education is not free for classes IX and above, the annual fee varies considerably. The pre-school covers dickens to trine years. The elementary stage broods of a primary stage comprising Classes I-V (in some states I-IV), followed by a middle stage of edu cation comprising Classes VI -VIII (in some states V-VIII or VI -VII). The minimum age for admission to Class I of the primary school is generally 5+ or 6+.The secondary stage consists of Classes IX-X (in some states VIII-X), and a senior secondary stage of schooling comprising classes XI- xii in all states. In some states/UTs these classes are attached to universities/colleges. The recite of working days of school education in a year is generally more than 200 days in all the states/UTs. fight in primary and secondary education The Gross Enrolment ratio (GER), which indicates the frame of children actually enrolled in elementary schools as a equilibrium of child population in the 6-14 years age group, has increased more and more since 1950-51, rising from 32.1% to 82. 5% in 2002-03, according to statistics published by the Ministry of Human Resource Development in India. The rate of increase in GER of girls has been higher than that of boys. The dropout rate at the primary l evel (Classes I-V) declined from 39% in 2001-02 to 34. 9% in 2002-03. However the GER only covers 61% of children from classes VI to VIII. 6 In 2002/3 the dropout rate was estimated at 34. 9% at the end of lower primary classes and 52. 8% at the end of upper primary. The dropout rate was 62. 6% at the end of secondary school (Class X).There are wide disparities among the different states in the number of children completing primary and secondary school from less than 20% to more than 80%, according to the central statistics from the Ministry of Human Resource Development. Source Selected Educational Statistics 2002-03. Provisional. Ministry of Human Resource Development, India Annual Report 2004/5. Ministry of Human Resource Development, India vicarious Education. Department of Secondary and higher(prenominal) Education, Ministry of Human Resource Development, India (information on the Departments website) National Curricula.The National Council of Education Research and Trainin g (NCERT) formulated the first political program modelling in 1975 as a recommendation to the individual states. NCERT was accorded the responsibility of ontogenesis a binding National program model through the National Policy on Education (NPE) (1986). NCERT reviews the caterpillar track every five years on the basis of consultations within the whole school sector. The core areas of the curriculum are common. Teaching of position is usually compulsory in classes VI-X in most of the states/UTs. NCERT published a New National plan framework in 2005.The New National political platform leave be introduced in textbooks in common chord phases Phase one, 2006-07 classes I, III, VI, IX and XI. Phase two, 2007-08 classes II, IV, VII, X and XII Phase three, 2008-09 classes V and VIII NCERT has gradually been changing the curriculum from handed-down information provision to be more apprentice-oriented and competence-based. National Curriculum model 2000 The National Curriculum Framework 2000 operates with the concept of the Minimum Levels of Learning (MLLs) identifying trusted essential levels of learning for each stage of school education.Pre-primary education The National Policy on Education defines the nonsubjective of early childhood condole with and education (ECCE) as being the total development of children in the age group 0-6 years. Early Childhood Education (ECE) or pre-primary education (2 years), part of the ECCE, shall prepare children for school. Teaching at this stage, according to the National Curriculum Framework, comprises group activities, playway techniques, language games, number games and activities directed at promoting socialization and environmental awareness among children. Formal teaching of subjects and reading and writing are prohibited.However, NCERT strongly criticised the actual pre-school programmes for exposing children to structured formal learning, much in 7 English with tests and homework, in the introductory not es to the natural National Curriculum Framework 2005. The competition for the best education stliberal arts at a very early age. News reputations from September 2005 in India report of tremendous pressure on three-year old children being prepared by their parents for nursery interviews and competing with a huge number of other children for places in the most p last outigious cliquish pre-schools.The newspapers report on private persons/institutes that offer help to parents in preparing their children for nursery interviews. Other newspapers report the need for psychological jut for children having developed speaking difficulties after having been capable to onerous preparation by their parents for nursery interviews. Primary education At the primary stage, emphasis is on the process of understanding, thinking and immanentising. The National Curriculum contains the following subjects Subject Language(s) Lower primary Classes I-II The mother tongue/regional language.Lower primary Classes III-V The mother tongue/regional language pep pill primary Classes VI-VIII Three Languages the mother tongue/the regional language, a in advance(p) Indian language and English All kind of creative activities including the childs own creations Essentials of mathematics for every day activities, including geometry Art education Mathematics Art of wellnessy and productive living Woven just about the world of the learner Creative education, health and physical education, work education, respect inculcation Integrated come near Environmental studies Health and physical education Science and technology Social comprehensions Work education Integrated approach to music, dance, drama, drawing and painting, puppetry, health and physical education, games and sports, yoga and productive work Experiences to help socio- stirred up and cultural development with a realistic awareness and perception of phenomena occurring in the environment Games and sports, yoga, NCC and scout ing and guiding Key concepts across all the disciplines of science, topical anesthetic and global concerns Social, political and economic situation of India and the world, including Indian cultural heritage. pedantic skills social skills and civic competencies Agricultural and technological processes including participation in work situation Source National Curriculum Framework 2000 8 In all language education programmes, the stress is placed on the superpower to use the language in speech and in writing for schoolman purposes, at the workplace and in society in general. The duration of a class period whitethorn be around 40 proceedings and, according to NCERT, the school year should be a minimum of one hundred eighty days, and A primary school should function for five hours a day out of which four hours may be set aside for instruction.For the upper primary and secondary schools, the duration of a school day should be sise hours out of which five hours should be kept for inst ruction and the rest for the other routine activities. Secondary education (2 years, mugs IX-X) In graduates IX-X the scheme of studies should include the following subjects three languages (the mother tongue/the regional language, a forward-looking Indian language and English), mathematics, science and technology, social sciences, work education, art education, health and physical education.Foreign languages such as Chinese, Japanese, Russian, French, German, Arabic, Persian and Spanish may be offered as additional options. The curriculum in mathematics should take into account both the learning requirement of learners who willing leave school for working life, and of assimilators who will pursue higher education. tally to the NECRT Secondary School Curriculum 2002-2004 (Vol.1, Main Subjects) the suggested number of weekly periods per subject in first floor X is as follows Subject Language I Language II Mathematics Science and technology Social science Work education or pre- vocational education Art education Suggested number of periods in grade X 7 6 7 9 9 3 + 2 to 6 periods outside school hours 2 The boards, however, according to NCERT, often offer limited or no optional social classs two languages (one of which is English), mathematics, science and social sciences are the typical interrogative subjects.A few boards promote students to deal an optional course from a range that includes economics, music and cookery. Higher secondary/ ripened secondary education (2 years, grades XIXII) The curriculum at this stage is divided into an academic stream and a vocational stream. donnish stream The objectives of academic courses are to promote problem-solving abilities and convey higher levels of knowledge. The curriculum at this stage comprises pedestal courses and elective courses. Foundation courses consist of (i) language and literature, (ii) work education, and (iii) health and physical education, games and sports.The study of language prepares a st udent to both learn and use language in the classroom, the community and the workplace. The natural selection of the language to be studied is decided by the learner. Work education includes e. g. developmental projects in a village or city. Generic vocational Courses (GVC) aim at developing employment-related generic skills regardless of the persons occupations. The student should choose three elective courses out of the subjects 9 prescribed by the boards. elective course courses may include bridging courses between the academic and vocational streams.The list of courses may include modern Indian languages, Sanskrit, classical European languages and their literatures, English (academic and specialised), other foreign languages, subjects in the sciences and mathematics, computer science, accountancy, business studies, engineering, political science, history, sociology, psychology, philosophy, fine arts and others. NCERT prescribes that courses should be listed together without di viding them into mutually exclusive groups. Nonetheless, several boards restrict the combinations in the form of a science stream, arts stream and handicraft stream.Some schools tailor their classes to medical and engineering courses. Universities restrict admissions based on the subjects and combinations of courses studied in the +2 stage. Sixty percent of the instructional time is devoted to the instruction of elective subjects and forty percent to the foundation course. vocational stream The introduction of the vocational stream was recommended by the central Kothari Commission (1964-66). The National Policy on Education, 1986 (revised 1992) set a cigarette of twenty-five percent of higher secondary students in vocational courses by 1995.So far, enrolment is far below this. The courses for the vocational stream consist of A language course A general foundation course Health and physical education, and Elective vocational courses Vocational education covers areas deal agric ulture, engineering and technology (including information and communication technology), business and commerce, home science, health and para-medical services and humanities. Language courses are organised to cover the grammatical structures and additional vocabulary particular to the trade or vocation.The general foundation course for the vocational stream comprises general studies, entrepreneurship development, environmental education, rural development and information and communication technology. Vocational electives are organised according to employment opportunities. possible training is an essential component of the vocational courses, according to the National Curriculum Framework, with seventy percent of time devoted to vocational courses. The certificate issued should mention the competencies acquired and the recognises earned. Organisation The organisation of teaching is based either on an annual or semester system.In most cases, a years course is divided into two part to be covered in the two halves of an academic session in the annual system. Marks are accorded to a certain number of periods the total mark is an average of label accorded to the different parts of curriculum in an annual or semestrial examination (e. g. a paper corresponding to a 3-hour written examination). 10 The example below copied from the aged School Curriculum 2007 (Central carte of Secondary Education) illustrates a typical curriculum (in history) and the maximum marks accorded to the different parts of the curriculum.History/Class XI Paper One Unit come apart A Ancient India 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. . 30. Total Introduction Paleolithic Cultures and Beginning of colonized Life Harappan Civilization The Early Vedic Period Later Vedic Phase and Iron Age South and North-East India Religious traditions Mahajanapada Mauryas Society, economy and Culture during Mauryan period Post-Mauryan India The age of India from Guptas and after The Society and Cult ure in the age of Guptas and Harsha Project Work deoxycytidine monophosphate marks 8 4 8 8 5 2 10 4 10 6 6 8 8 . 5 8 9 5 2 7 7 Time 3 Hours Periods 100 Marks Marks.In the semester system, recommended by NCERT, students take a number of credit hours corresponding to their requirements and capacity, and at their own pace. However, only a few institutions have adopted the semester and credit system. National Curriculum Framework 2005 The National Curriculum Framework 2005 points out the need for plurality and flexibility within education while maintaining the standards of education in order to cover a evolution variety of children. The Framework recommends that learning shifts away from rote methods and that the curriculum reduces and updates textbooks. tranquility education is included as a dimension in education. The new curriculum proposes a broader spectrum of optional subjects, including the revalorisation of vocational options. Courses may be knowing to offer optional module s, rather than trying to cover everything and overfilling courses too much. The National Curriculum Framework 2005 also proposes changes within the examination system (examinations for classes X and XII) allowing reasoning and creative abilities to replace memorisation. The children should be able to opt for different levels of attainment. Textbooks 11Most states have legislated to create bodies for the preparation of syllabi and textbooks. The states have established various mechanisms for the preparation and approval of textual materials. However, a study in 2005, undertaken by the Central Advisory Board of Education (CABE), of textbooks employ in government schools (not following the CBSE syllabus) and in nongovernment schools (including social and religious schools) showed that many textbooks fortify inequalities and neglect rural, tribal or female realities. According to NCERT Newsletter, in 2005, CABE proposed the institution of a National Textbook Council to monitor textboo ks.Source National Curriculum Framework 2000, National Council of Education Research and Training (NCERT), India National Curriculum Framework 2005, National Council of Education Research and Training (NCERT), India Newsletter July 2005, National Council of Education Research and Training (NCERT), India Senior School Curriculum 2007, Central Board of Secondary Education (CBSE), India, 2005 Examination and Assessment In all the states and Union Territories, public examinations are conducted at the end of classes X and XII by the respective State Boards of Secondary and Higher Secondary Education.Ministry of Human Resource Development has published a list of recognised state boards for secondary and higher secondary education. The minimum age for admittance to the Secondary School Examination generally varies from 14+ to 16+. The minimum age for Higher Secondary School Examinations varies from 16+ to 18+ years. Some states/UTs do not have an age restriction. The Central Board of S econdary Education (CBSE), established by a special resolution of the Government of India in 1929, prescribes examination conditions and the conduct of public examinations at the end of stock(a) X and XII.The Council for the Indian School enfranchisement Examinations (CISCE), Delhi, was established in 1958 by the University of Cambridge, local Examinations Syndicate as a self-financing national examination board. The Council conducts the Indian security measures of Secondary Education ( precedent X) and the Indian School Certificate (Standard XII) examinations. CISCE affiliates schools using English as a medium of instruction. The title of the final qualification varies depending upon the examining body. The titles used by the central examining boards are CBSE All India Secondary School Certificate (Standard X). All India Senior School Certificate (Standard XII). 12 CISCE Indian Certificate of Secondary Education (ICSE Standard X). Indian School Certificate (ISC Standard XII) . Certificate of Vocational Education (CVE XII). Information from the procedure of the All India Senior School Certificate (Standard XII) (extract) The Board conducts examination in all subjects chuck out General Studies, Work Experience, Physical and Health Education, which will be assessed internally by the schools based on cumulative records of students periodical achievements and progress during the year.In all subjects examined by the Board, a student will be given up one paper each carrying 100 marks for 3 hours. However, in subjects requiring practical examination, there will be a theory paper and a practical examination as required in the syllabi and courses. A prognosis may offer an additional subject that can be either a language at elective level or another elective subject as prescribed in the stratagem of Studies, subject to the conditions laid down in the Pass Criteria. A view will get the Pass Certificate of the Board, if he/she gets a grade higher than E in all subjects of internal assessment unless he/she is exempted.Failing this, firmness of purpose of the external examination will be withheld but not for a period of more than one year. In order to be declared as having passed the examination, a candidate shall obtain a grade higher than E (i. e. at least 33% marks) in all the five subjects of external examination in the main or at the compartmental examinations. The pass marks in each subject of external examination shall be 33%. In case of a subject involving practical work a candidate must obtain 33% marks in theory and 33% marks in practical separately in addition to 33% marks in aggregate in order to qualify in that subject.A candidate failing in two of the five subjects of external examination shall be placed in compartment in those subjects provided he/she qualifies in all the subjects of internal assessment. A candidate who has failed in the examination in the first attempt shall be required, to re-appear in all the subjects at the subsequent annual examination of the Board. A candidate who has passed the Senior School Certificate Examination of the Board may offer an additional subject as a private candidate provided the additional subject is provided in the Scheme of Studies and is offered within six years of passing the examination of the Board.A candidate who has passed an examination of the Board may reappear for improvement of cognitive process in one or more subject(s) in the main examination in the succeeding year only however, a candidate who has passed an examination of the Board under Vocational Scheme may reappear for improvement of performance in one or more subjects) in the main examination in the succeeding year or in the following year provided he/she has not pursued higher studies in the mean time. He /she will appear as private candidate.Candidates who appear for improvement of performance will be issued only Statement of Marks reflecting the marks of the main examination as well as tho se of the improvement examination. Central Board of Secondary Education Central Board of Secondary Education (CBSE) is one of the three national boards of secondary education in India. CBSE has committed around 8,300 schools including government and independent 13 schools. It also affiliates schools in some 20 African and Asian countries. About 200 new schools are affiliated each year. Study teams conduct regular inspections of the affiliated institutions.CBSE has a central position and 6 regional offices. Permanent affiliation is obtained after a number of years. Affiliation is granted according to strict criteria. A list of affiliated schools can be found on CBSE s website http//www. cbse. nic. in. The major objective is to prescribe conditions of examinations and conduct public examinations at the end of Classes X and XII and to grant certificates to successful candidates of the affiliated schools. All affiliated schools follow the national scheme of 10+2. Here is an example of testimonial for All India Senior School Certificate Examination from 2000CBSE is regulated but not financed by the central government. Financing is assured by fees from the affiliated schools. CBSE accepts private candidates. CBSE develops its curriculum on the basis of the national curriculum framework. The curriculum is revised every 5 to 10 years. Two of the front line curriculum subjects are revised every year. According to CBSE, it strives notably to adapt current teaching methods and content of teaching to an innovative and creative society in the form of subjects such as functional English, bio-technology, entrepreneurship, life skills education, and disaster management.An important objective is the destressing of education, including no homework or examinations in grades I and II and only achievement reports in grades III-V. Information technology is compulsory in grades IX +X. Language studies include a possible 27 different languages besides Hindi and English. One teacher may teach four subjects up to grade X. The board uses the term learner (for student) with emphasis on the learners role in learning. Two subjects undergo a performance analysis (marks, questions, learning) each year to cope with poor performance.14 Examination is monitored and organised to avoid fraud. CBSE issues duplicates of certificates under certain conditions. CBSE also organises in-service training of teachers and special programmes for new principals. Grading Both Standard X and XII are normally marked on a percentage basis. The minimum passmark varies depending upon the subject. According to the UK NARIC, the following marking scheme is used in most states for the Standard XII examinations, in comparison with that used by the central boards. surgical operation CBSE assessment 85%+, 80-85%, 70- Excellent, Superior, Very A1-A2, B1 80% good 60% 70% Good B2 50% 60% Satisfactory C1 40% 50% just C2 35% 40% Pass D Percentages Source India, International Comparisons, UK NARIC CISCE One, two, three Four Five Six seven Documents The pass-document is issued by the relevant Board of Secondary Education. It shows the type of programme (academic or vocational), the subjects passed and the marks obtained out of total marks as well as the aggregate marks, percentage obtained, and result as well as the overall grade/division.National Institute of Open Schooling (NIOS) National Institute of Open Schooling (previously known as the National Open School) was established in November 1989 as an self-directed registered society. The institute provides basic programs such as secondary education courses and senior secondary education courses on an open education basis. NIOS conducts examinations twice a year and candidates can appear in one, two or more subjects. Credits are accumulated until the certification criteria are fulfilled. NIOS has at its governance a network of accredited study centres all over India providing support to learners.Source India, International Comparisons, UK NARIC (Website) Secondary Education. Department of Secondary and Higher Education, Ministry of Human Resource Development, India (information on the Departments website) 15 Islamic Education India also has a system of Islamic education. Several different sects have their own schools where they teach Islamic subjects and Arabic to mainly (but not only) Islamic children.

Federal Taxation Essay

D. Dale bowleg is prof Emeritus in the School of Accounting at the University of Central Florida. He received a B.S. from the University of Tulsa, an M.B.A. from the University of Arkansas, and a Ph.D. from the University of Texas at Austin. He helped to establish the operate of Science in evaluateation syllabuss at the University of Central Florida and California province University, Fullerton, where he previously taught. In 1985, he was adopted by the California cab art of Certified Public Accountants as the Accounting pedagog of the year. prof Bandy has published 8 defends and to a greater extent than 30 articles in accounting system and taskation. His articles hire advanceed in the ledger of revenue enhancementation, the ledger of Accountancy, Advances in revenue enhancementation, the assess Adviser, The CPA daybook, precaution Accounting, and a number of other journals. N. Allen Ford is the Larry D. Homer/KPMG Peat Marwick Distinguished teaching method pr of of Professional Accounting at the University of Kansas.He received an undergrad degree from Centenary College in Shreveport, Louisiana, and both the M.B.A. and Ph.D. in Business from the University of Arkansas. He has published everyplace 40 articles think to revenue enhancementation, financial accounting, and accounting reading in journals such as The Accounting Review, The diary of the Ameri washbasin Taxation familiarity, and The Journal of Taxation. He served as president of the American Taxation connection in 197980. Professor Ford has received numerous teaching awards at the college and university levels.In 1993, he received the Byron T. Shutz Award for Distinguished Teaching in Economics and Business. In 1996 he received the Ray M. Sommerfeld swell Tax Educator Award, which is jointly sponsored by the American Taxation Association and Ernst & green and in 1998 he received the Kansas Society of CPAs Outstanding Education Award. Robert L. Gardner is the Robert J. smith Professor of Accounting in the School of Accountancy at Brigham preadolescent University (BYU). He received a B.S. and M.B.A. from the University of Utah and a Ph.D. from the University of Texas at Austin. He has authored or coauthored two books and everywhere 25 articles in journals such as The Tax Advisor, Journal of Corporate Taxation, Journal of Real Estate Taxation, Journal of Accounting Education, Journal of Taxation of S Corporations, and the International Tax Journal.Professor Gardner has received several teaching awards. In 2001, he received the Outstanding Faculty Award in the Marriott School of Management at BYU. He has served on the Board of Trustees of the American Taxation Association and served as chairman of the ATA in 19992000. Richard J. Joseph is the Provost of Hult International Business School in Cambridge, Massachusetts. He is a current ph eitherus of the Hult Accounting Faculty and a former member of the measure strength of The University of Texas at Austin.A graduate magna cum laude of Harvard College (B.A.), Oxford University (M.Litt.), and The University of Texas at Austin School of Law (J.D.), he has taught individual, corporate, international, state and local appraiseation, tax research methods, and the fundamentals of financial and managerial accounting. Before embarking on his donnish career, Provost Joseph worked as an investment banker and securities trader on Wall Street and as a mergers and acquisitions lawyer in Texas. He is co-editor of the Oxford Handbook on Mergers and Acquisitions and has write numerous commentaries in the fiscal Times, The Christian Science Monitor, Tax Notes, and Tax Notes International. His book, The Origins of the American Income Tax, explores the original intent, rationale, and effect of the early American income tax. LeAnn Luna is an Associate Professor of Accounting at the University of Tennessee. She is a C.P.A. and holds an undergraduate degree from Southern Methodist University, a M.T. from the University of Denver College of Law, and a Ph.D. from the University of Tennessee.She has taught introductory taxation, corporate and partnership taxation, tax research, and professional standards. Professor Luna to a fault holds a joint appointment with the core for Business and Economic Research at the University of Tennessee, where she interacts frequently with state policymakers on a variety of policy related issues. She has published articles in the subject area Tax Journal, The Journal of the American Taxation Association, Tax Adviser, produce Tax Notes, and a number of other journals. xiiAbout the Authors Individuals xiiitimothy J. Rupert is a Professor and the Golemme Administrative Chair in the College of Business brass at Northeastern University. He received his B.S. in Accounting and his prevail of Taxation from the University of Akron. He to a fault get his Ph.D. from Penn conjure University. Professor Ruperts research has been published in such journals as The Journal of the American Taxation Association, Behavioral Research in Accounting, Advances in Taxation, Applied cognitive Psychology, Advances in Accounting Education and Journal of Accounting Education.He is presently the co-editor of Advances in Accounting Education. In 2010, he received the Outstanding Educator Award from the Massachusetts Society of CPAs. He has to a fault received the Universitys Excellence in Teaching Award and the College of Business Administrations Best Teacher of the Year award multiple times. He is expeditious in the American Accounting Association and the American Taxation Association (ATA) and has served as the vice president and secretary of the ATA. Charlene Henderson is a member of the faculty in the Adkerson School of Accountancy at Mississippi State University.She earned her undergraduate and graduate degrees in accounting at Mississippi State University. After working in public and private accounting, she completed the doctorial program at Arizona State University. Her teaching and research interests admit both tax and financial accounting.Her research has appeared in several journals, including Journal of the American Taxation Association, Journal of Accounting Auditing and finance, and Journal of Business Finance and Accounting. Michael S. Schadewald, Ph.D., CPA, is on the faculty of the University of WisconsinMilwaukee where he teaches graduate and undergraduate persists in work taxation. A graduate of the University of Minnesota, Professor Schadewald is a co-author of several books on multistate and international taxation and has published more than 40 articles in faculty member and professional journals, including The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, The Journal of the American Taxation Association, CPA Journal, Journal of Taxation, and The Tax Adviser. Professor Schadewald also has served on the editorial boards of The Journal of the American Tax ation Association, Journal of State Taxation, International Tax Journal, The International Journal of Accounting, Issues in Accounting Education, and Journal of Accounting Education.PR E F A C EWhy is the pontiff/Anderson series the best prime(a) for you and your students? The Pope/Anderson 2013 serial publication in Federal Taxation is appropriate for use in each first course in federal taxation, and comes in a choice of three chromas Federal Taxation 2013 Individuals Federal Taxation 2013 Corporations, Partnerships, Estates & Trusts (the companion book to Individuals) Federal Taxation 2013 Comprehensive (includes 29 chapters 14 chapters from Individuals and 15 chapters from Corporations) ** For a customized edition of any of the chapters for these textual matterbooks, fit your Pearson representative and they can create a custom text for you. The Corporations, Partnerships, Estates & Trusts and Comprehensive batchs contain three complete tax return bothers whose data cha nge with each edition, thereby keeping the problems fresh. puzzle C3-66 contains the oecumenical corporate tax return, Problem C9-58 contains the comprehensive partnership tax return, and Problem C11-64 contains the comprehensive S crapper tax return, which is establish on the same facts as Problem C9-58 so that students can compare the returns for these two entities. The Corporations, Partnerships, Estates & Trusts and Comprehensive volumes contain sections called Financial Statement Implications, which discuss the implications of Accounting Standards Codification (ASC) 740. The main discussion of accounting for income taxes appears in Chapter C3. The financial statement implications of other transactions appear in Chapters C5, C7, C8, and C16 (Corporations volume altogether). We want to stress that all entities are coered in the Individuals volume although the treatment is often briefer than in the Corporations and Comprehensive volumes. The Individuals volume, therefore, is a ppropriate for colleges and universities that require only one semester of taxation as well as those that require more than one semester of taxation. Further, this volume adapts the suggestions of the Model Tax Curriculum as promulgated by the American Institute of Certified Public Accountants.Whats impertinent to this Edition?Individuals Complete integration of the mod laws contained in the Temporary paysheet Tax Cut Continuation Act of 2011. Complete updating of all significant court cases and IRS rulings and procedures during 2011. Discussion of the extension of many itemized deductions through 2011 or 2012. Discussion of all sunset provisions applicable after celestial latitude 31, 2011 and December 31, 2012. All tax rank schedules have been updated to reflect the rates and inflation ad exceptments for 2012. Thorough revision and update of all homework questions and problems. Whenever immature updates become open, they will be accessible via MyAccountingLab. Corpor ations The comprehensive corporate tax return, Problem C3-66, has all modernistic numbers for the 2011 forms. The comprehensive partnership tax return, Problem C9-58, has all new numbers for the 2011 forms. The comprehensive S corporation tax return, Problem C11-64, has all new numbers for the 2011 forms. Changes affecting 2012 tax law, including inflation ad honorablements, have been incorporated into the text where appropriate. All tax rate schedules have been updated to reflect the rates and inflation adjustments for 2012. Whenever new updates become available, they will be accessible via MyAccountingLab.Preface Individuals xvMyAccountingLab is web-based, tutorial and assessment software for accounting that non only progress tos students more I feel It moments, however gives instructors the flexibility to make technology an organic part of their course. It also is an excellent supplementary resource for students. To register, go to http// or instructorsMyAccountingLab rears instructors with a rich and flexible set of course materials, along with course-management tools that make it sonant to deliver all or a portion of your course online. tidy Homework and Test Manager Create, import, and manage online homework and media assignments, quizzes, and tests. Create assignments from online questions today correlated to this and other textbooks. Homework questions include Help Me Solve This point solutions to help students understand and master concepts. You can choose from a broad(a) range of assignment options, including time limits,proctoring, and maximum number of attempts allowed. In addition, you can create your take questionsor copy and edit oursto customize your students acquisition path. Comprehensive Gradebook Tracking MyAccountingLabs online gradebook automatically tracks your students results on tests, homework, and tutorials and gives you control everywhere managing results and calculating grades.Al l MyAccountingLab grades can be exported to a spreadsheet program, such as Microsoft Excel. The MyAccountingLab Gradebook provides a number of student data views and gives you the flexibility to weight assignments, select which attempts to include when calculating scores, and omit or delete results for individual assignments. Department-Wide Solutions Get help managing multiple sections and working with Teaching Assistants using MyAccountingLab Coordinator courses. After your MyAccountingLab course is set up, it can be copied to create sections or member courses. Changes to the Coordinator Course flow down to all members, so changes only indispensability to be made once. We will add the most current tax randomness to MyAccountingLab as it becomes available.For StudentsMyAccountingLab provides students with a personalized interactive check offing environment, where they can learn at their own pace and measure their progress. Interactive Tutorial Exercises MyAccountingLabs homew ork and practice questions are correlated to the textbook, and similar to versions regenerate algorithmically to give students unlimited opportunity for practice and mastery.Questions offer helpful feedback when students enter ill-advised answers, and they include Help Me Solve This guided solutions as well as other learning back up for extra help when students need it. cartoon Plan for Self-Paced Learning MyAccountingLabs study plan helps students monitor their own progress, letting them see at a glance exactly which topics they need to practice. MyAccountingLab generates a personalized study plan for each student based on his or her test results, and the study plan links straight to interactive, tutorial exercises for topics the student hasnt yet mastered. Students can regenerate these exercises with new values for unlimited practice, and the exercises include guided solutions and multimedia learning aids to give students the extra help they need.View a guided spell of MyAcco untingLab at http// Individuals PrefaceStrong Pedagogical assist Appropriate blend of technical foul content of the tax law with a high level of readability for students. Focused on enabling students to keep tax principles within the chapter to real-life situations.What Would You Do in This patch? Unique to the Pope/Anderson series, these boxes place students in a decision-making role. The boxes include many current contr everywheresies that are as yet unresolved or are currently universe considered by the courts. These boxes make extensive use of Ethical Material as they represent choices that may put the practitioner at odds with the client. pulley & Think These speed bumps encourage students to pause and apply what they have just learned. Solutions for each issue are provided in the box. Ethical Point These comments provide the ethical implications of material discussed in the adjoining text. Apply what they have just learned. Tax d odge Tip These comments suggest tax planning ideas related to material in the adjoining text.Program ComponentsMaterials for the instructor may be accessed at the Instructors Resource Center (IRC) online, located at or within the Instructor Resource section of MyAccountingLab. You may contact your Pearson representative for assistance with the registration process. TaxACT 2011 Software Available on CD to be packaged with Individuals and Comprehensive Texts This user-friendly tax eagerness program includes more than 80 tax forms, schedules, and worksheets. TaxACT calculates returns and alerts the user to possible errors or entries. Instructors Resource Manual Contains sample syllabi, instructor outlines, and information regarding problem areas for students. It also contains solutions to the tax form/tax return preparation problems. In addition to being available electronically on the IRC online, it also is available in hardcopy. Solutions Manual Conta ins solutions to discussion questions, problems, and comprehensive and tax strategy problems. It also contains all solutions to the case study problems, research problems, and What Would You Do in This Situation? boxes. In addition to being available electronically on the IRC online, it is also available in hardcopy. Test Item File Offers a riches of true/false, multiple-choice, and calculative problems. A computerized program is available to adopters. PowerPoint Slides Include everyplace 300 full-color electronic transparencies available for Individuals and Corporations.AcknowledgmentsAdopters will nonice that John L. Kramers name does not appear on the 2013 edition as he has officially retired from the textbook. Jack was one of the founders and original editors of the Prentice-Hall Federal Taxation series, and the current editors and authors wish to thank him for his outstanding contri andions everyplace the years to this textbook and to tax education in general. Our policy is to provide annual editions and to prepare well timed(p) updated supplements when major tax revisions occur. We are most appreciative of the suggestions made by outside reviewers because these extensive review procedures have been valuable to the authors and editors during the revision process. We also are grateful to the various graduate assistants, doctoral students, and colleagues who have reviewed the text and supplementary materials and checked solutions to maintain a high level of technical accuracy.In particular, we would like to acknowledge the following colleagues who assisted in the preparation of supplemental materials for this text Ann Burstein Cohen SUNY at Buffalo Caroline Strobel University of South Carolina Craig J. Langstraat University of Memphis Kate Demarest Carroll corporation College Richard Newmark University of Northern Colorado In addition, we want to thank Myron S. Scholes, Mark A. Wolfson, merle Erickson, Edward L. Maydew, and Terry Shevlin for allowi ng us to use the model discussed in their text, Taxes and Business Strategy A Planning Approach, as the basis for material in Chapter I18. Please send any comments to Kenneth E. Anderson or Thomas R. Pope.TAX station SCHEDULESINDIVIDUAL TAXPAYERSSingle 1(c) If ratable income is The tax is Not everyplace $8,700 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10% of taxable income. everywhere $8,700 however not over $35,350 . . . . . . . . . . . . . . . . . $870.00, gain 15% of the sur incontrovertible over $8,700. oer $35,350 but not over $85,650 . . . . . . . . . . . . . . . . $4,867.50, asset 25% of the additional over $35,350. everywhere $85,650 but not over $178,650 . . . . . . . . . . . . . . . $17,442.50, plus 28% of the excess over $85,650. Over $178,650 but not over $388,350 . . . . . . . . . . . . . . $43,482.50, plus 33% of the excess over $178,650. Over $388,350 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $112,683.50, plus 35% of the excess over $388,350. Head of Household 1(b) If taxable income is The tax is Not over $12,400 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10% of taxable income. Over $12,400 but not over $47,350 . . . . . . . . . . . . . . . . $1,240.00, plus 15% of the excess over $12,400. Over $47,350 but not over $122,300 . . . . . . . . . . . . . . . $6,482.50, plus 25% of the excess over $47,350. Over $122,300 but not over $198,050 . . . . . . . . . . . . . . $25,220.00, plus 28% of the excess over $122,300. Over $198,050 but not over $388,350 . . . . . . . . . . . . . . $46,430.00, plus 33% of the excess over $198,050. Over $388,350 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $109,229.00, plus 35% of the excess over $388,350. Married, file Joint and Surviving Spouse 1(a) If taxable income is The tax is Not over $17,400 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10% of taxable income. Over $17,400 but not over $70,700 . . . . . . . . . . . . . . . . $1,740.00, plus 15% of the excess over $17,400. Over $70,700 but not over $142,700 . . . . . . . . . . . . . . . $9,735.00, plus 25% of the excess over $70,700. Over $142,700 but not over $217,450 . . . . . . . . . . . . . .$27,735.00, plus 28% of the excess over $142,700. Over $217,450 but not over $388,350 . . . . . . . . . . . . . . $48,665.00, plus 33% of the excess over $217,450. Over $388,350 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $105,062.00, plus 35% of the excess over $388,350. Married, Filing Separate 1(d) If taxable income is The tax is Not over $8,700 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10% of taxableincome. Over $8,700 but not over $35,350 . . . . . . . . . . . . . . . . . $870.00, plus 15% of the excess over $8,700. Over $35,350 but not over $71,350 . . . . . . . . . . . . . . . . $4,867.50, plus 25% of the excess over $35,350. Over $71,350 but not over $108,725 . . . . . . . . . . . . . . . $13,867.50, pl us 28% of the excess over $71,350. Over $108,725 but not over $194,175 . . . . . . . . . . . . . . $24,332.50, plus 33% of the excess over $108,725. Over $194,175 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $52,531.00, plus 35% of the excess over $194,175.

Thursday, February 21, 2019

Research Graphic Organizer Essay

bring out your thesis statement somewhat the Effectiveness of Advertising in the topographic point provided below. Include previous sections into this document before submitting this Research Graphic Organizer. choose a topic Technology Sports Equipment Clothing Food Questions to research atomic number 18 advertisements aimed at teenagers effective? And, ar they estimable?My ResponseYes advertisements atomic number 18 aimed at teenagers because they just run back and ask their parents for what theyre advertising & yes this is ethical because I would do the same thing.SourcesTitle, URL, and Date of AccessCentral appraisalhttp// bind states that advertisement are aimed at children because they watch a lot of TV.http// article they state that kids are easily influenced so more advertisements are aimed at kidshttp// This article states that advertisements about food is one of the leading causes in over weight teenshttp// This article states that children shows and food advertisements corporate.

Schooling the Smash Street Kids Book Review

Paul Corrigans training the smash road agency kids takes the ever problematic issues of education and youth and provides a glimpse into it from the new(prenominal) side of the street. Impulsive, informal and unorthodox in writing style, Corrigan talks as if you were an previous(a) fri wipeout, pulling you in and gently nudging your opinions with personal memories. His work was establish in the gritty north-east city of Sunderland, studying 14-15 year old boys in two schools with very polar levels of facilities but both with doubtless working class pupils.This book does not start with a surmisal and then test it but arranges each chapter around a relevant question, i. e. why do kids muck about in class, and answers that question at the beginning of the chapter using existing theories and another way at the end showing the process of the sociological research that had been completed. The nature of the book is to talk about youths and the schema of education in 1970s Britain an d to highlight problems faced insouciant in the classroom by teachers and pupils alike.The book is aimed at giving a voice to those in similar situations, teachers that are struggling to engage the spunk to handle children that they teach and those in government that can change it so they can see some point in education itself (page 153). Schooling the smash street kids provides real insight to problems that need solutions drawn from literal research that was carried out in schools by the author.Paul Corrigan was able to do this in an effective way as he did not regorge himself to the pupils as a teacher or an authority figure, but as an author who was writing a book about the students and they were his only motive for being there. This in turn created trust between them and he was then able to conduct much to a greater extent meaningful research that whitethorn have not been obtained had he taken on a more authoritative persona.Although the style of the book is written in a w ay that can be understood and interpreted by people of different abilities and from different backgrounds, holds the readers attention and gets its information across in a summary and raise way, the chatty and informal nature of the writing could be a flaw. It may not be taken as a in effect(p) piece of research due to this and could lose some credibility among academics, when in fact it could provide significant findings to the field of research.Overall, this book is an easy and interesting read and may be useful to students starting out in the field of criminology, to grasp basic understandings. The book is well organised in structure and incorporates personal experiences and statistics which helps drives home its purpose, to change and improve the schooling system and give a, albeit a small, platform to those and others in a similar position, that Corrigan encounters.

Wednesday, February 20, 2019

Hydraulic Fracturing Essay

Thousands of feet be paltry the Earths surface, flows vast reservoirs of unitary of our planets intimately sought later on commodities. In ancient Babylon there are literature of a dark elixir oozing from the lands surface, even then the great deal understood how precious this material was. Oil, along with subjective atom smasher, are exceptionally rich sources of expertness. A gallon of fossil oil colour surpasses the output of five kg of coal, ten-spot-spot kg of wood, and all over fifty times the amount of zipper that fifty humans can produce. The richest oil can actually fork up unrivaled hundred more times the energy, than the resources used to extract it from the ground. before long the US is entering virtuoso of the expectantst modern oil booms the world has ever so seen. Unfortunately unlike in ancient Babylon, oil today does not but ooze out of the ground and into our cars. sunrise(prenominal) parents in comprehension and visualization technology confu se given us a outgrowth known as hydraulic fracturing. Also known as plain boring, or fracking, these unsanded techniques have caused a great controversy and sparked a human beings debate over the potential encounters fracking could ensue on our environment. in spite of the negative pictures environmental lobbyists have painted, hydraulic fracturing is essential for the future of the Statess deliverance. Its main purpose is to create jobs, a stable securities industry, and advance the future of clean energy in the linked States.Currently, there has been a focused attention on the negative environmental impacts fracking could potentially deal with it especially in the pissing supply. There are hundreds of on-going investigations taking come out to ensure the defendion of the environment as well the health of citizens who before long populate near sites that are using a horizontal drilling method. Most of the negative impacts on the environment, associated with fracking, are poorly understood by the general public. The water supply has been one of the main concerns voiced by lobbyists and various media outlets. Currently the join States government has issued extensive research on the matter through the Environmental cherishion Agency (EPA). The EPA has focused more than of its attention on the sustainability of the water supply and soil surrounding original and former drilling sites. The EPA recently released on their main website a rumorconfirming the side by side(p) The EPA afoot(predicate)ly is working closely with industry partners to report locations and develop research activities for prospective fortune studies.In prospective case studies, research at the site begins before hydraulic fracturing occurs, and then continues during and aft(prenominal) hydraulic fracturing activities. The studies to date have shown no correlativity to contaminated water supplies before or after the process of hydraulic fracturing. According to the New York Times, Shale flatulency is openinged at depths of thousands of feet tour inebriety water is extracted from depths of only hundreds of feet. nowhere in the state have fracking compounds injected at depth been shown to contaminate drinking water. It is important to understand the process at which the gasoline pedal is extracted to understand where the areas of risk occur. Each well contains multiple layers of make casing and cementing to effectively protect groundwater. (API 1) This is essential to the protection of our water supply. It is important to understand the access greathearted oil companies have to advanced equipment and the most brilliant minds. Each course of instruction billions of dollars are spent on research towards the extraction and containment of cancel gas as well how to dampen the carbon footprint left after drilling.Many subjective gas operators have chosen to disclose the ingredients of their cocktails to the website, it is operated by the Groundwater Protection Council. This website includes a public record that can be examined by drill site or well location, individuals can effortlessly attend the components used to fracture detailed wells. As of early 2012, nearly one hundred companies have already provided information about approximately ten thousand wells and that number increases every day. (API) Companies in our modern connection understand the importance of transparency. Access to websites and detailed logs have given the public the ability to make their own judgments on the safety of individual operators. This makes large and independent companies held to higher standards than ever before. While there are babys room gases released during the extraction process they are significantly less than our current coal-fired plants. Shale gas emits half the carbon dioxide per unit of energy as does coal, and coal ruin also emits metals such as mercury into the atmosphere that eventually peg back into our so ils and waters. (New York Times) This is of great importance to understand especially as one of the oldest and largest coal-fired plant operates inwest Texas.Advocacy groups such as the sierra Club are fighting to shut down these highly detrimental plants. Coal and gas-fired power plants emit more than 2.3 billion metric piles per year of carbon pollution, approximately 40% of total U.S. energy-related carbon pollution.(SierraClub.Org) Because of unabated restrictions any emissions from oil and gas wells must stay in spite of appearance agreed state and federal restrictions to guarantee the health and well-being of residents. Natural gas is considered a clean burning fuel because of its comparatively low emissions of carbon dioxide, sulfur oxides, and nitrogen oxides.(API 1) According to the Environmental Protection Agency, natural gas-fired electricity generates half the carbon dioxide of coal-fired production. As a country we have gained a dependency on energy and as we grow bleak techniques leave alone have to be discovered to maintain our consumption rate. hydraulic Fracturing brings us closer to clean energy while having an instantaneous proceeds to our atmosphere and environment by making dangerous coal-fired plants obsolete. The oil and natural gas industry resources are considerably valuable to the United States providence as one of the countrys major enforceers and buyers of imports.Maintaining its growth through a struggling thriftiness, the Statess oil and natural gas operators carry on to deliver well-paying employment, returns to administrations and share growth for zillions of Americans. With increased access to U.S. oil and gas resources we can create 1 million new jobs in the next ten years alone.(Green 1) That means if the nation could watch the practice of fracking, while protecting the environment, it in return would create one million American jobs. That would not only raise our unemployment rate exponentially, provided would in sert millions of tax dollars back into the economy for amend infrastructure or education. Expansion of oil and natural gas shale assets sustained more than 2.1 million jobs in 2012.(API 1) Affordable, native natural gas is vital to refreshing the chemic, manufacturing, and steel industries. These great industries have supported our nation in the past and will continue into the future. The American Chemistry Council determined A 25 per centum increase in the supply of ethane (the liquid derived from shale gas) could add over 400,000 jobs across the economy, provide over $4.4 billion annually in federal, state, and local anesthetic tax revenue, and spur $16.2 billion in capital investment by the chemical industry That added boost tothe job market is a enable long over payable to our struggling economy.Similarly, the National Association of Manufacturers estimated that high retrieval of shale gas and lower natural gas prices will answer U.S. manufacturers employ 1,000,000 workers by 2025. This will directly stimulate small town communities by offering technical job positions with life-long benefits. As well the added income will help to slowly relieve the burden of debt many families are suffering from. An IHS report, Americas New Energy Future The Unconventional Oil and swagger Revolution and the US Economy, estimates that Mainly due to lower energy prices, comely disposable income per household increased by more than $1,200 in 2012.(IHS 4) This has endlessly been omitted from the main stream media. Numerous industry sponsored reports are connecting gushing oil and natural gas production brought on by fracking is lifting the United States economy by dropping energy be for clients and producers. It has a direct correlation as we produce more on shore energy our costs and high import taxes decrease. This in affect has a trickle-down policy when oil costs less to extract, ship, and use then household energy bills go down.President Obamas 2012 State of the Union address the President claimed wisdom for governing the leading decline in oil imports in current times and for accomplishing the lowest use of need on oil imports in sixteen years. He accredited that notable outcome somewhat to improved oil production in North and South Dakota but generally to the substantial surge in gas production that has directly cauline from hydraulic fracturing. There is a clear indication that the risks of fracking are bring down day by day as the benefits continue to increase. The crash of 2008 brought our economy to a grinding halt. There is currently no other market that could stimulate the economy as much as the energy sector. The United States Economy will progress substantially over the next ten years due to the shale boom. hydraulic fracturing will reduce the cost of energy while raising manufacturing. Most importantly it will reassure chemical and technology companies will receive higher endowments giving us an frame over our competitors. Fr acking will also reduce the cost of transportation by fueling our vehicles with clean natural gas. By performing quality due diligence we can omit the fears associated with hydraulic fracturing once and for all.Joint cooperation from the US Department of Energy and the International Energy Agency will modify access to up to date reports on the environment and public safety. hydraulic fracturing offers us hundreds of years producing clean, dependable, sustainable energy. It will directly affect the following generations while having a positive effect on our current economy. Hydraulic fracturing is the future without it, we would lose 45 percent of domestic natural gas production and 17 percent of our oil production within 5 years.(API 1) Some view hydraulic fracturing in an undesirable context. I am confident in hydraulic fracturing and see it as a window of opportunity for America that will help boost the economy while giving an immediate reduction in greenhouse gases. The benefit s and rewards of hydraulic fracturing simply outweighs the risks.Works CitedBrantley, Susan L., and Anna Meyendorff. The Facts on Fracking. NewYork Times, 13 Mar. 2013. Web. 4 Mar. 2014.Efstathiou, Jim, younger Bloomberg. Bloomberg, 3 Sept. 2013. Web. 03Mar. 2014. .Green, Mark. Energy Tomorrow Home. Energy Tomorrow Home. API.ORG, 28Feb. 2014. Web. 04 Mar. 2014.Hassett, Kevin A., and Aparna Mathur. American initiative Institute. AEI., 4Apr. 2013. Web. 04 Mar. 2014.Larson, John W., and Richard Fullenbaum. Americas New Energy Future. Rep. no.Vol. 3., Sept. 2013. Web. 4 Mar. 2014..Pierce, Richard J., Jr. Scholarly Commons. Site., 2013. Web. 04 Mar. 2014..Sierra Club Home Page Explore, Enjoy and Protect the Planet. Sierra Club HomePage Explore, Enjoy and Protect the Planet., 2012. Web. 04 Mar. 2014.United States. Environmental Protection Agency. Department of the Enviroment. Progress Report Webinar., 28 Feb. 2014 . Web. 2 Mar. 2014. . Zobak, Mark. American Petroleum Institute. American Petroleum Institute.API.ORG, Sept. 2013. Web. 02 Mar. 2014.

Capital Structure Question Solution

mulct 3100 Problems for Midterm Additional Capital Structure Problems Question 1 Belgarion Enterprises addition beta, the riskiness of the steadfast, can be found as the weighted norm of the betas of its debt and uprightness, where the weights are fraction of the starchy financed by debt and equity ? A = D/V ? D + E/V ? E = . 5 ? 0 + . 5 ? 1. 4 = . 7 To invent the beta of the whole with no debt, prevail ? o or ? u using the practice for levered equity ? E,L = ? o + ? o ? D D/E ( 1 TC) rearrange to find ? o = ? E,L + ? D D/E ( 1 TC) 1 + D/E ( 1 TC) Since the debt beta is zero, the equation simplifies to ?o = ?E,L = 1. 4 / ( 1 + (. 5/. 5) ? (1 . 4) ) = . 875 1 + D/E ( 1 TC) The asset beta is higher if the substantial has NO DEBT, in the otherwise perfect monetary merchandises world. The stiff with debt has an asset that the securely no debt does non the relate measure resistance. The riskiness of the revenue revenue shield is lower than the riskiness of the crockeds operating assets (its business organization risk). In fact, in this case, the inte proportion tax shield is risk little because the debt is risk slight. The beta of the levered squiffys assets is lower than beta of the unlevered degradeds assets. Remember, unsuccessful person is personifyless in this problem. If loser is non apostrophizeless, the chair may not h e genuinelyplaceaged by increasing leverage, the probability of bankruptcy goes up and therefore the expected guide ups of bankruptcy addition. In this case, the pixilateds riskiness may well increase with leverage). Question 2 Little Industries a) Current market comforts EL = 300,000 ? $3 = $900,000 economic treasure per bond (. 05 ? 1000)/. 1 = 50/. 1 = $500 Total bonds D= (. 05? 100,000)/. 1 = $50,000 VL = D + EL = 50,000 + 900,000 = $950,000 b) Current required treads of recollect Debt rD = 10 % ( striven) Equity rE,L = (EBIT I) ? (1 TC) = (270,000 5,000) ? (1 . 4) = . 1766666 = 17. % EL 900,000 WACC = (D/VL) ? rD ? (1-TC) + (EL/VL) ? rE. L = (50,000/950,000) ? .1 ? (1-. 4) + 900,000/950,000 ? .177 = . 1708 c) For case of perpetual debt VL = Vu + Tc D Therefore Vu = VL Tc D = 950,000 . 4 ? 50,000 = 950,000 20,000 = 930,000 NOTE other way to solve for the unlevered firm care for is to first calculate the unlevered speak to of equity and past use it to discount the unlevered firms interchange currents 1. Unlevered cost of equity Rec alone rE. L = r0 + (r0 rD) D/E (1 Tc) set up the radiation pattern for r0 0 = rE,L + rD D/E (1 Tc) / 1 + D/E (1 Tc) = (. 177 + . 1? 50,000/900,000 ?. 6)/(1+50,000/900,000?. 6) = . 1741935 VU = EU = EBIT ? (1- TC)/r0 = 270,000 ? .6/. 1741935 = 930,000 d) (i) after(prenominal) restructuring, the firm will be 30% debt financed. permit D* be the good debt after refinancing and VL* be the total firm lever after refinancing. It must be true that D* = . 3 ? VL* Since VL = Vu + Tc D, then VL* = Vu + Tc D* Substituting for D* VL* = Vu + Tc . 3 ? VL* Solve for VL* (1 . 3? TC) VL*= Vu VL*= Vu/ (1 . 3? TC) = 930,000/ ( 1 . 3 ?. 4) = 1,056,818. 2 And D* = . 3 ? VL*= . 3 ? 1,056,818. 2 = 317,045. 5 EL* = . ? VL*= . 7 ? 1,056,818. 2 = 739,772. 7 (ii) By issuing clean debt and retiring eq value of equity, total firm value increases VOLD= 950,000 VNEW = 1,056,818. 2 Increase in firm value = 1,056,818. 2 950,000 = 106,818. 2 Since the required authorize of be start out to debt is unchanged, we can assume that all of the turn a profit of the restructuring is captured by the appointholders. On the declaration of the proposed restructuring, the total value of equity will increase by the increase in firm value measure of existing equity on the announcement = 900,000 + 106,818. 2 = 1,006,818. 2 New share price = 1,006,818. 2/300,000 = $3. 356To figure out the number of shares repurchased, first figure out the dollar value of the new debt issued New debt issued = New total debt previous total debt = 317,045 . 5 50,000 = 267,045 Shares worth $267,045 are repurchased, at $3. 356 per share Total shares repurchased = $267,045/$3. 356 per share = 79,572 shares Share remaining = 300,000 79,572 = 220,427 (iii) New required return to equity method acting 1 rE. L = r0 + (r0 rD) D/E (1 Tc) = . 17419 + (. 17419 . 1) ? (317,045. 5/739,772. 7) ? .6 = . 193 Method 2 post on total debt, I = . 1 ? 317,045. 5 = 31,704. 5 rE,L = (EBIT I) ? (1 TC) = (270,000 31,704. 5) ? 1 . 4) = . 193 EL 739,772. 7 New WACC = . 3 ? .1 ?. 6 + . 7?. 193 = . 1531 e) (i) Because the model assumes bankruptcy be are zero, it does not consider the capableness downside of increasing leverage. With bankruptcy costs, the expected costs of bankruptcy increase with leverage, offsetting the benefit of reduced taxes. (ii) abandoned D* = 317,045. 5 and Interest = 31,704. 5 EL = (EBIT I) ? (1 TC) = (270,000 31,704. 5) ? (1 . 4) = 571,909. 1 EL . 25 Total firm value V = D* + EL = 317,045. + 571,909. 1 = 888,955 Now, ta king into account the impact of the bankruptcy costs, on the announcement of the increased leverage, the firm value FALLS intensify in firm value = 950,000 888,955 = -61,045 New equity value on the announcement = 900,000 61,045 = 838,955 New share price on the announcement = 838,955/300,000 = $2. 80 Share price falls from $3 to $2. 80 Therefore, the restructuring is a poor idea if the new required rate of return to equity rises to 25%. Question 3 Mighty Machinery Initial situation market value of debt = . 08? 50m/. 08 = 50 m market value of equity = 8 m ? 20/sh = one hundred sixty m market value of firm = 210After Restructuring start that all change in value is borne by the shareholders. So the loss of the tax shield will impact shareholders only. foster of wooly-minded tax shield = Tax rate ? change in debt = . 35 (-10m) = 3. 5m New firm value = old value + value of tax shield = 210 3. 5 = 206. 5 m New debt value = old debt + change in debt = 50m 10 m = 40m New equity va lue (at the actual restructuring date) = new firm value new debt value = 206. 5 40 = 166. 5 m New share price Given that shareholders bear all of the impact of the reduced tax shield, given cost-effective financial markets, the value of the equity will fall by 3. m ON THE ANNOUNCEMENT of the plan. Thus, at the announcement, total equity is worth one hundred sixty 3. 5 = 156. 5m or $19. 5625 per share ($156. 5m/8m = 19. 5625). Another way the NPV of the restructuring is -3. 5m, which is all borne by shareholders. The change in share price will be -3. 5m/8m = -$0. 4375, plentiful a new share price of $20 . 4375 or $19. 5625. ii) Shares issued = $10m/$19. 5625 or 511,182 Check final share value/new number of shares = 166. 5/8. 511182 = $19. 5625. (iii) spend the formula rE = r0 + (r0 rD) D/E (1 Tc) Rearrange the formula for r0 r0 = rE + rD D/E (1 Tc) / 1 + D/E (1 Tc) = . 5 + . 08 ? 50/160 ? (1-. 35)/1+50/160 ? (1-. 35) = . 138181818. Then New rE = r0 + (r0 rD) (new D/new E ) (1 Tc) = . 138 + (. 138-. 08) (40/166. 5) (1-. 35) = . 1429 The restructuring causes rE to fall, as expected. The leverage is lower, the risk of equity is lower, shareholders required rate of return falls. b) You answer this question Question 4 NOTE This was a particularly tricky question. Part marks were given for wrong answers. Assume that it is valid to use the CAPMthis is ok, given the perfect financial markets assumption. Need to get all of the components of WACC rD = current yield-to-maturity, 9%Market value of D = (. 08 ? 2. 5m )/. 09 = 2. 22222m TC = 35% What about value of equity and cost of equity Use a competitor to figure outthe closest company to GLC is any Lawn Chemicals. The most complete way to go is to figure out the unlevered cost of equity of completely Lawn (reflecting the business risk), and value GLC at this rate. This will give us the unlevered value of GLC. Next, use GLCs current capital coordinate to get GLCs levered value of the firm and its equity. N ext calculate the cost of equity, given GLCs current capital structure. 1. Find unlevered cost of capital for All LawnUse the selfsame(prenominal) rearrangement of the cost of equity formula in question 6 rE = r0 + (r0 rD) D/E (1 Tc) Rearrange the formula for r0 r0 = rE + rD D/E (1 Tc) / 1 + D/E (1 Tc) Use CAPM to find current rE of All Lawn rE = rf + ? ? MRP = . 075 + 1. 2 ? .07 = . 159 r0 = . 159 + . 09 ?. 3? (1-. 35) / 1+. 3? (1-. 35) = . 14774 Value of firm for GLC V L = OCF ? (1 tc) + tcD RU V = 1. 5M * (0. 65) + 2. 222M*(0. 35) .1477 VL = 7. 37892M Value of Equity for GLC VL = Ve + VD = 7. 37892M = 2. 222M + Ve Ve = 7. 37892 2. 222 = 5. 1569M Ve = 5. 1569M = y R equity = (OCF Interest expense)(1 tax rate)/ Value of equity = ($1. million . 08x$2. 5 million) . 65/5. 1569= . 163858 =16. 39%. OR 1. Find unlevered cost of capital for All Lawn Use the same rearrangement of the cost of equity formula in question 6 rE = r0 + (r0 rD) D/E (1 Tc) Rearrange the formula for r0 r0 = rE + rD D/E (1 Tc) / 1 + D/E (1 Tc) Use CAPM to find current rE of All Lawn rE = rf + ? ? MRP = . 075 + 1. 2 ? .07 = . 159 r0 = . 159 + . 09 ?. 3? (1-. 35) / 1+. 3? (1-. 35) = . 14774 2. Value of Unlevered GLC Vu = OCF Taxes / r0 = 1. 5 ? (1-. 35) /. 14774 =6. 59943 3. Value GLC with its current capital structure VL = Vu + Tc D = 6. 59943 + . 35 ? . 22222 = 7. 37721 4. Value GLCs equity and its required rate of return Thus EL = VL D = 7. 37721 2. 22222 = 5. 15499 and rE = r0 + (r0 rD) D/E (1 Tc) = . 14774 + (. 14774 . 09)? (2. 22222/5. 15499)?. 65 = . 1639 5. Calculate GLCs WACC Wacc = (2. 22222/7. 37721)?. 09?. 65 + (5. 15499/7. 37721)?. 1639 = . 1322 Question 5 a) False. Although often increases in firm value increase equity value, it is not always the case. When debt is risky (that is, there is a scene that the debt will not be birth the full promised interest and hotshot), improvements in firm value may go partly or totally to debt holders.This means that the d ebt has become less risky there is less chance that the bondholders wont get the promised interest and principal re inventments. An archetype when a firm is in financial woe, a value-increasing investment may only increase the value of the debt and none of the value goes to shareholders. See kit out and also the Barclay, Smith, Watts article. b) False. All that is necessary for the risk of equity to increase is that the firms operating money watercourse be variable.Whenever you add the firm interest applyments, the result is to intensify the variability of the money flows to shareholders (they get paid only after the fixed payments have been made to the debtholders). Look at the kit, risk of equity increased with the addition of debt and there is no chance of bankruptcy in this example (debt is riskless no matter what terra firma of the world occurs, the debtholders get their promised payments). c) False. For this answer, assume perfect financial markets and keep the fi rms investment and borrow constant. If you dont make these assumptions, then we have to make other assumptions about the state of the financial markets. These ones make our story easy). It is true that a shareholder may have to consider shares at the bottom of the market to create homemade dividends. But if the firm increases its dividend, they too will have to sell shares at the bottom of the market If we assume that the firm is currently paying out the money they have, the rest is tied up in investment plans and no new borrowing is made, if the dividend is increased, THE FIRM WILL HAVE TO GO TO THE MARKET AND SELL SHARES to pay for the higher dividend.The risk of selling shares at the bottom of the market has not gone away and shareholders still get stuck with it either they pay for it promptly when they sell their shares or indirectly when the firm brings in new shareholders who pay less for their shares than if it had been the top of the market. So this is not a valid ground why the firm paying a dividend will increase firm value. d) Uncertain. What the answer depends on is whether the bond holders anticipated correctly the chances and costs of distress/bankruptcy.If bondholders correctly anticipate distress and the costs associated with it, they will pay less for the bonds than if the costly distress did not occur. Shareholders end up paying the costs because the company gets less for the bonds sold raising the cost of debt financing. Of course, if bondholders do not correctly anticipate the distress, then they share in the costs. e) THIS IS A transport MIDTERM QUESTION True. Cost savings are much to a greater extent likely to be achievable than revenue increases firms have control over their production process but not over their customers. f) False. This question is very much related to a).Shareholders will not be willing to make for more money to positive NPV projects when the bulk of the benefit goes to bondholders. See the references in a). g ) True. The messy formula for the impact on firm value of adding debt when some(prenominal) personal and corporate taxes are considered is outlined in the kit. This happens when (1-TB) (1-Tc)(1-TS).. Translating 1-TB is the after-all-taxes cash flow of a $1 of bond income, (1-Tc)(1-TS) is the after-all-taxes cash flow of $1 of equity income (because first corporate taxes are paid and then personal taxes on equity income are paid).If investors get less in their pocket, after all taxes, when $1 of bond income is paid then after a $1 of equity income, they wont want the firm to borrow pay only dividend income and less total taxes (corporate plus personal) are paid. Firm value will be lower if the company borrows h) True. This follows from the free cash flow problem discussed in Barclay, Smith and Watts. A company with lots of cash but few investment opportunities (low growth) puts management into temptation spend the money on projects they like but arent necessarily positive NPV.For such(prenominal) a firm, a high dividend payout (high dividends/net income) and high interest and principal obligations keeps the cash out of the hands of manager and gives them fewer opportunities to make ban NPV investments, increasing the value of the firm. i) True. Given these assumptions, adding debt creates a new asset a tax shield. The tax shield is a gift from the government, increasing the firms after-tax cash flows. This tax shield is lower risk than the assets of the business it depends on the riskiness of the firms debt (and we assume that the tax rate doesnt change).Thus total risk of the levered firm is lower than if it is unlevered (the levered firm has the same business risk plus the lower risk tax shield the overall risk is lower). j) THIS IS A POST MIDTERM QUESTIONS False. All valuation methods requiring assumptions to be made. Earnings capitalization is a simpler valuation method than discounted cash flow but it is loaded with strong assumptions about the time to come cash flows/earnings such as constant growth, constant dividend payout and changeless capital structure. ) True the firm will have received the cash without having to issue new shares, however, the firm will also have disoriented out on raising equity when these precedents are not exercised and the warrant holders (and other potential investors) are disappointed and may not invest in this firm in subsequent rounds of equity financing if they were not able to benefit from their warrant purchase. Warrants are not like outcry options. With call options the firm in not involved in the transaction. With warrants the firms reputation and ability to raise financing is affected.