Analysis Of John Locke And The Problem Of Personal Identity

Fatima Binyamin 500700419 Professor David Checkland PHL 201 – Problems in Philosophy John Locke and the Problem of Personal Identity Personal identity, in a philosophical point of view, is the problem of explaining what makes a person numerically the same over a period of time, despite the change in qualities. The major questions answered by Locke were questions concerning the nature of identity, persons, and immorality (Jacobsen, 2016). This essay will discuss the three themes John Locke presents in his argument regarding personal identity, which are, the concept of categories, substance vs. man vs. person, and the continuity of consciousness. Categories Locke argues that we cannot compare something until we have an idea of what category the thing being discussed will the placed under. He elaborates on this notion and argues that asking whether something is the same or not is very blunt and open. When asking a question about sameness, one could ask, Is Professor Checkland the same person as he was five years ago? instead of Is Professor Checkland the same as five years ago? The latter question is not acceptable, according to Locke, because there is no category under which Professor Checkland is being judged upon. The former, however, implies that Professor Checkland is being judged on the basis of whether he is the same person as he was five years prior. Identity of substance, man, and persons The categories substance, man, and person all have different requirementsShow MoreRelatedJohn Locke’s Theory of Personal Identity Essay1692 Words   |  7 PagesJohn Locke (1632-1704) said ‘To find wherein personal identity consists, we must consider what person stands for †¦Ã¢â‚¬â„¢ (Locke, in set book, p. 275). Therefore, to recapitulate Locke’s philosophy on personal identity it is necessary to clarify how he inimitably used the term ‘person’ and consequently other words, such as ‘substance’ and ‘man’, which he utilized to form his philosophical ideas. Furthermore, his work on personal identity inspired debate amongst many subsequent philosophers and motivatedRead MoreThe Eternal Sunshine Of The Spotless Mind : An Analysis Of Memory, Relationships, And Identity Essay1198 Words   |  5 Pages Eternal Sunshine of the Spotless Mind: An Analysis of Memory, Relationships, and Identity Jeszenia McGuire Elms College What was the worst thing that has ever happened to you? Perhaps you totaled your brand new car leaving the dealership, or you lost your dream job? Maybe you were bullied as a child, or were the victim of a crime. Did you go for a routine checkup, only to be told you an expiration date? Maybe you watched on as a pair of taillights faded into the darkness, as theRead MoreAnalyzing the Views of Mackenzie and Schechtman on Personal Identity1655 Words   |  7 Pagesand Schechtman on Personal Identity Introduction The concept of personal identity or personhood is a very complex area of philosophy that challenges our most basic understandings of mind and matter. Philosophers have generally settled into either the school of mind, or consciousness, and the school of body. As our ability to study the mind grows, through developments in psychology and neurology, consciousness-based theories have come to dominate the discussion of personal identity and body-basedRead MorePsychological Continuity Of Personal Identity1655 Words   |  7 Pagesaccount of personal identity over time. Under this context, â€Å"psychological continuity† is defined as continuous mental states over time. For example, characteristics of one’s mind such as sentience, memory, and other mental faculties, must remain an uninterrupted continuum over time to be considered psychologically continuous. Additionally, under this context, the term â€Å"person† will hereafter refer to beings that have mental proper ties. Under philosophical context, the term â€Å"identity† is generallyRead MoreAnalysis Of Eric Eriksons Eight Stages Of Identity Theory1423 Words   |  6 PagesIntroduction Identity or Self-concept is something that evolves or matures right along with us; it changes from physical concepts to more complex thoughts. (Damon Hart, 1988) Questions like Who am I? and What is my Purpose? Have perplexed humanities greatest philosophers; the complexity of these questions has even created a study of purpose; Teleology, the study of purpose. John Locke held that personal identity is a matter of psychological continuity. He considered the self to be founded on consciousnessRead MoreMax Hallmans Traversing Philosophical Boundaries3864 Words   |  16 Pagesexplores the concepts of self and unself through texts written by philosophers throughout time. Both the articles On Personal Identity by John Locke and There is No Personal Identity by David Hume illustrate the various opinions that have been expressed through history regarding how humans define themselves and how human beings as a whole group create and individuate identity. Other essays in the text which foc us on conceptions of the self include Cicles by Ralph Waldo Emerson, The NatureRead More Locke On Distribution Essay3207 Words   |  13 Pagesold Oxford gradÕs theory of property. Some are shouting from the left that Locke argues a rights claim for subsistence for all individuals, that it may even support MarxÕs theory of exploitation. Yelling back are those from the right who claim that he formulates a moral justification for capitalist appropriation of property. Then of course there are those somewhere in between who are telling everyone to shut up because Locke wrote the damn thing over three hundred years ago in the political contextRead More Marxist Locke Essays2522 Words   |  11 PagesMarxist Locke Karl Marx and John Locke both place a great deal of importance in both labour and property in discussing their political philosophies. At first glance, the two thinkers seem to possess completely different ideas on property, its importance, and the form of society which should grow from it. The disparity in their beliefs is evident, but they share a similar approach to labour and acceptable conditions while constructing philosophies which inherently attack each other. Locke’s suggestionRead MoreGuidelines And Books For Teaching Essay1681 Words   |  7 Pagesas language preferences and family lifestyles combined should be key elements of a curriculum. Teachers play a leading role in child skill development as the facilitators. Teachers‘needs, personalities, cultural backgrounds, interests as well as personal insight combined are a critical third element in the development of a curriculum. Putting The Holostic Child into perspective Holistic child development and learning encompasses all areas of development. It also includes family, community andRead MoreOrigins of Behaviorism Essay1714 Words   |  7 Pages Behaviourism originated with the work of John B. Watson from 1913. Behaviourism is based on the following sets of claims: (1) Psychology is the study of behaviour. Psychology is not the science of mind. This statement also forms a type of behaviourism: â€Å"Methodological† behaviourism

The Rising Cost Of College - 977 Words

Regardless of what your major may be, college offers you knowledge that you will use throughout your entire life. It arms you with skills such as communication, critical thinking, analytical capabilities, cultural literacy and leadership. John Henry Newman believed that acquiring such skills was the most important aspect of college and that its purpose was â€Å"training good members of society† (53). However at some point there was a shift in opinion as to what the purpose of college is, people began to see it simply as a means to an end, a pathway to financial stability. Dan Berrett, a writer for The Chronicle of Higher Education, attributes part of this change to President Ronald Reagan. Berrett writes that on February 28, 1967, then California governor Ronald Reagan, said â€Å"†¦we do believe that there are certain intellectual luxuries that perhaps we could do without,† he was referring to liberal education (qtd. in Berrett). The rising cost of college has al so influenced the way people feel about liberal education versus high tech training, people want to make sure their degree is worth every penny they spent on it. In a very practical way, college definitely serves the purpose of procuring a career but it is also essential to shaping productive members of society. When considering a higher education people often wonder if the potential contributions to humanity outweigh a guaranteed salary and if they are mutually exclusive. A survey of 400 employers conducted by a consortiumShow MoreRelatedThe Rising Cost Of College951 Words   |  4 PagesRegardless of what a student’s major is, college offers a person the knowledge that they will use throughout their entire life. It arms a person with skills such as communication, critical thinking, analytical capabilities, cultural literacy and leadership. John Henry Newman believed that acquiring such skills was the most important aspect of college and that its purpose was â€Å"training good members of society† (53). However opinions shifted on what the purpose of college is, people began to see it simplyRead MoreThe rising costs of college1169 Words   |  5 PagesYoshimasa Hirano Thomas Jordan Basic Composition 2/7/2014 The rising costs of college In the US, higher education is really important to succeed in the future. â€Å"In 2003, the typical full-time year-round worker in the United States with a four-year college degree earned $49,900, 62 percent more than the $30,800 earned by the typical full-time year-round worker with only a high school diploma† (U.S. Census Bureau). That means if you have a bachelor’s degree, you would get a better job and salaryRead MoreThe Rising Costs Of College Attendance1396 Words   |  6 PagesAs we are experiencing a time of rising student debt and high unemployment, how do we define a â€Å"right price† for higher education and what value does it hold? Annually, the federal Higher Education Act (HEA) currently provides up to $38 billion in loans to postsecondary education, $14 billion for programs and more than $10 billion in Pell Grants are awarded to college students. The Department of Education administers policies that are inclusive of and accountability for all levels of the systemRead MoreThe Rising Cost Of College Tuition855 Words   |  4 Pagesmoney through new technology platforms, and are the most educated generation of all time. Young adults are experience a higher level of poverty than any other age group. Young adults have been suffering greatly due to the rising cost of education and living. The cost of college tuition makes it even harder for them to achieve financial assistance. The amount of student loans debt in America is roughly around one point eight trillion dollars. Factors like the minimum wage also make it harder for youngRead MoreThe Myths Of Rising College Cost2366 Words   |  10 Pagesnational average of 20% between 2008 and 2012 (Hiltonsmith Draut, 2014). Higher education stakeholders, such as students, parents, public policy makers, have expressed their worries about the rising tuition as it has triggered a public concern about college affordability (Mumper Freeman, 2011). For public colleges and universities, it was the first time that they have witnessed that tuition as a share of total revenue surpasses the state funding for public institutions nationwide in 2012 (U.S. GovernmentRea d MoreRising Cost Of College Tuition2509 Words   |  11 PagesPower, Privilege Rising Cost of College Tuition in the U.S The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of higher education and advanced degrees continually rises at a greater rate than inflation in the 1970’s. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high schoolRead MoreRising Cost of College Textbooks1995 Words   |  8 PagesAsk any college student to state one of their largest expenses and it would be safe to bet the response would be â€Å"Textbook prices!† The cost of purchasing required materials for courses has reached numbers high enough to cause many students to take out second loans. Information released this year by the American Enterprise Institute shows that â€Å"College textbook prices have increased faster than tuition, health care costs and housing prices, all of which have ri sen faster than inflation† (KingkadeRead MoreThe Rising Cost Of College Tuition976 Words   |  4 Pagesyears, the soaring cost of college tuition has angered many students and parents, leaving many wondering where they will come up with the funds to pay. While college is still a pretty sound investment for most career paths, the cost of an education has outpaced general inflation by almost double, leaving many families simply unable to shoulder the fiscal burden without incurring large amounts of debt. How did we get to where we are today? A big part of it has to do with how colleges themselves haveRead MoreCollege Tuition And The Rising Cost Of Education Essay2116 Words   |  9 PagesCollege has been sold to the American people as the key to a better future. Complete the four-year degree program and watch oneself rise from the poverty of lower class to the white picket fence middle class dream. This may have been the case in the 1970’s, but college students today are facing over one trillion dollars in combined student loan debt (Denhart 3). In fact, the price of college has increased higher than any other good or service since 1978(Ivory Tower). With the cost of tuition skyrocketingRead MoreWhat are the Problems of Rising Cost in College Tuition?1323 Words   |  6 PagesWhat are the Problems of Rising Cost in College Tuition? College fee is the main factor that depends on which institution of higher learning that a student is likely to join unless awarded a scholarship. It directly depends on one’s financial capability. The poor afford the cheap and less desirable intuitions that they can be able to afford while the rich can get access to high class type of education. Policies exist that govern the ability of institutions increasing their fees and at the same

Ovarian Cysts During Pregnancy Free Essays

Ovarian Cyst during Pregnancy What are ovarian cysts? Ovarian cysts are fluid-filled, sac-like structures within an ovary. The term cyst refers to a fluid-filled structure. Therefore, all ovarian cysts contain at least some fluid. We will write a custom essay sample on Ovarian Cysts During Pregnancy or any similar topic only for you Order Now What causes ovarian cysts? Ovarian cysts form for numerous reasons. The most common type is a follicular cyst, which results from the growth of a follicle. A follicle is the normal fluid-filled sac that contains an egg. Follicular cysts form when the follicle grows larger than normal during the menstrual cycle and does not open to release the egg. Usually, follicular cysts resolve on their own over the course of days to months. Cysts can contain blood (hemorrhagic or endometrioid cysts) from injury or leakage of tiny blood vessels into the egg sac. Occasionally, the tissues of the ovary develop abnormally to form other body tissues such as hair or teeth. Cysts with these abnormal tissues are called dermoid cysts. What symptoms are caused by ovarian cysts? Most cysts are never noticed and resolve without women ever realizing that they are there. When a cyst causes symptoms, pain in the belly or pelvis is by far the most common one. The pain can be caused from rupture of the cyst, rapid growth and stretching, bleeding into the cyst, or twisting of the cyst around its blood supply. How are ovarian cysts diagnosed? Most cysts are diagnosed by ultrasound, which is the best imaging technique for detecting ovarian cysts. Ultrasound is an imaging method that uses sound waves to produce an image of structures within the body. Ultrasound imaging is painless and causes no harm. Cysts can also be detected with other imaging methods, such as CAT scan or MRI scan (magnetic resonance imaging). How can the physician decide if an ovarian cyst is dangerous? If a woman is in her 40’s, or younger, and has regular menstrual periods, most ovarian masses are â€Å"functioning ovarian cysts,† which are not really abnormal. They are related to the process of ovulation that happens with the menstrual cycle. They usually disappear on their own during a future menstrual cycle. Therefore, especially in women in their 20’s and 30’s, these cysts are watched for a few menstrual cycles to verify that they disappear. Because oral contraceptives work in part by preventing ovulation, physicians will not really expect women who are taking oral contraceptives to have common â€Å"functioning ovarian cysts. † Thus, women who develop ovarian cysts while taking oral contraceptives may be advised against simple observation; rather, they may receive closer monitoring with pelvic ultrasound or, less commonly, surgical exploration of the ovary. Other factors are helpful in evaluating ovarian cysts (besides the woman’s age, or whether she is taking oral contraceptives). A cyst that looks like it’s just one simple sac of fluid on the ultrasound is more likely to be benign, than a cyst with solid tissue in it. So the ultrasound appearance also plays a role in determining the level of suspicion regarding a serious ovarian growth. Ovarian cancer is rare in women younger than age 40. After age 40, an ovarian cyst has a higher chance of being cancerous than before age 40, although most ovarian cysts are benign even after age 40. CA-125 blood testing can be used as a marker of ovarian cancer, but it does not always represent cancer when it is abnormal. First, many benign conditions in women of childbearing age can cause the CA-125 level to be elevated, so CA-125 is not a specific test, especially in younger women. Pelvic infections, uterine fibroids, pregnancy, benign (hemorrhagic) ovarian cysts, and liver disease are all conditions that may elevate CA-125 in the absence of ovarian cancer. Second, even if the woman has an ovarian cancer, not all ova rian cancers will cause the CA-125 level to be elevated. Furthermore, CA-125 levels can be abnormally high in women with breast, lung, and pancreatic cancer. How are ovarian cysts treated? Most ovarian cysts in women of childbearing age are follicular cysts (functional cysts) that disappear naturally in 1-3 months. Although they can rupture (usually without ill effects), they rarely cause symptoms. They are benign and have no real medical consequence. They may be diagnosed coincidentally during a pelvic examination in women who do not have any related symptoms. All women have follicular cysts at some point that generally go unnoticed. A follicular cyst in a woman of childbearing age is usually observed for a few menstrual cycles because the cysts are common, and ovarian cancer is rare in this age group. Sometimes ovarian cysts in menstruating women contain some blood, called hemorrhagic cysts, which frequently resolve quickly. Ultrasound is used to determine the treatment strategy for ovarian cysts because if can help to determine if the cyst is a simple cyst (just fluid with no solid tissue, seen in benign conditions) or compound cyst (with some solid tissue that requires closer monitoring and possibly surgical resection). In summary, the ideal treatment of ovarian cysts depends on the woman’s age, the size (and change of size) of the cyst, and the cyst’s appearance on ultrasound. Treatment can consist of simple observation, or it can involve evaluating blood tests such as a CA-125 to help determine the potential for cancer (keeping in mind the many limitations of CA-125 testing described above). The tumor can be removed either with laparoscopy, or if needed, an open laparotomy (using and incision at the bikini line) if it is causing severe pain, not resolving, or if it is suspicious in any way. Once the cyst is removed, the growth is sent to a pathologist who examines the tissue under a microscope to make the final diagnosis as to the type of cyst present. Ovarian Cysts At A Glance Ovarian cysts are fluid-filled, sac-like structures. Ovarian cysts form for numerous reasons. When a cyst causes symptoms, pain in the belly or pelvis is by far the most common one. Most cysts are diagnosed by ultrasound. The treatment of ovarian cysts varies from observation and monitoring to surgical procedures. Case Study: Ovarian Cyst during Pregnancy I am 35 and 13 weeks into my second pregnancy. Four weeks ago, I went to the hospital for pain in my lower right quadrant. A sonogram showed a cyst on my right ovary, about 15cm. The doctor has had me in bed since then, and I have had two more sonograms. It hasn’t gone down. The doctors seem to think it is fluid-filled and not cancerous. Can cysts really go down on their own? How long should I wait to see if it will go down? Have you heard of any cysts this large during pregnancy, and do they pose a danger to the baby? Cysts (fluid-filled structures) can go down on their own, but it is unlikely a 15cm cyst in pregnancy will do so. Cysts are not that uncommon during pregnancy, affecting about 1 in 1,000 pregnant women. The vast majority of ovarian masses found during pregnancy are benign; the incidence of ovarian cancer is 1 in 25,000 births. Ultrasound can be helpful in determining if a mass is benign or malignant, but it cannot do so with 100 percent certainty. If ultrasound shows that the mass is strictly fluid-filled, without septation or thick walls, it is probably benign. The problem with large, even benign, cysts during pregnancy is that they may rupture or torse (twist on themselves). Either of these events leads to significant pain for mom and the potential for miscarriage or preterm labor and delivery for the baby. Large (more than 6-8cm) cysts are usually removed surgically if they do not decrease in size spontaneously over the course of a few weeks. In pregnancy, the best time to operate is in the second trimester, ideally around 14-16 weeks. Occasionally, a cyst may be dealt with via laparoscopy, but very large cysts often require a large, open incision. A 15 cm cyst is rather big, and the potential for complications like rupture is high. If it has remained for more than two weeks, I suggest you talk to your doctor about your option. Your doctor may have been just watching you for now, until you get out of the first trimester (the first 13 weeks of pregnancy). I have removed several masses this size during pregnancy, and all of my patients went on to deliver normal, healthy babies. How to cite Ovarian Cysts During Pregnancy, Essay examples

Forensic Entomology Biology and Systematics

Question: Discuss about the Forensic Entomology for Biology and Systematics. Answer: Introduction: One of the highly abundant and diverse group that is present in every corner of the globe is the group of insect. They only absent in certain extreme condition like the North Pole, South Pole, ocean areas and certain mountain tops which are distant from the coast. Among the animal and plant species known three quarter portion is comprised insect, it is around 80 percent of the animal species (Patan et al., 2014). There are more than one million of species of insect present. The insect also have fundamental role in the terrestrial and aquatic ecosystem. Both the food chain and the food web are dominated by the volume and number of the insect present. Though this group shows different astonishing diversity of the niches, habitats, behaviors and life styles (Morales et al., 2016). The shape of the body of the insect is almost constant and their body structure can be described by the conserved parts of the body of the insect. The size of the insect has a significant variation. The length may range from 0.2-300 mm. The most distinguishable characteristic of the insect body is the segmentation of the body which includes the three parts head, thorax and abdomen (Chen et al., 2014). The recent studies shows that there are 4-6 million of insect species present in the world. These groups of organisms are successful due to the extreme richness, high biomass and abundance. The fundamental reason behind this is the metameric segmentation of the body of the insect and their appendixes. The tracheal system allows the insects to grow much more larger than that permissible by the diffusion alone (Laidlaw, 2014). At around 800000 times more oxygen is provided by the trachea which the process of simple diffusion cannot provide. The small size of the insects is very advantageous because it allows shorter generation time. Hence, in a very short period several generations can be executed. This makes the insects more prone to the process of mutation which ultimately produces more phenotypic and genotypic variation. Furthermore this supports the insects to inhabit in variety of microhabitats such as plant, soil, and animals. Consequently, the availability of the niches have increased. The huge array of the interaction based on the evolution among the insect and plants and to the other organisms, which contributes to the formation of the great diversification. The insects efficiency of perceiving the environment is more than any other group of the terrestrial invertebrates (Huang et al., 2013). This function is due to sophisticated sensory and neuromotor systems in insects. The light and resistant e xoskeleton of the insect makes the flight possible, which enhances their mobility for a more efficient search of new environments and food in different types of habitats . Furthermore, it assists the insects to escape from flightless predators, allows migration and egg dispersal, and also assist the search for mates. The place of the insects in the general Zoological Classification Animalia The multicellular motile organisms, responsive to the external environment and feeding by consuming other organisms or parts of them, digesting that food in an internal chamber; undergoing blastula embryonic development. Arthropoda All members of Animalia having jointed external skeletal cuticle and jointed locomotory legs. Insecta All members of the Arthropoda having (in general terms) three functional body regions, 2 pairs of wings and three pairs of jointed locomotory legs. Diptera All members of Insecta having only the front pair of wings functional as flight appendages, having the hind pair reduced to balancing-sensory organs called halteres. Larvae soft bodied. Calliphoridae Those Diptera having: a spoon-shaped lower calypter hypopleural setae present post-humeral seta placed lower relative to the horizontal plane than the per-suturalseta Calliphora those Calliphoridae having: * lower part of parafacial without long setae * stem vein not setulose on upper surface (i.e. it is bare) * lower calypter with fine setulae on upper surface * costa bare on under surface beyond the junction with R1 3 post-suturalacrostichal setae, 1 pre-sutural +2 post-sutural intra-alar setae first flagellomere2 times as long as pedicel costa setulose on under surface from base to junction with R1 vicina those members ofCalliphorahaving: both calypters dark brown, at most with white margin a yellow-brown basi-costa orange anterior spiracle anterior two-thirds of gena orange setulae of gena all black The insect have witnessed the rise and the falloff the dinosaurs. They have maintained their position in the ecological pre-eminence for over 400 million years and survived the four major cataclysms which have caused planet-wide extinctions (Dobzhansky, 2013).The insect also thrive continuously despite of the best efforts of eradication done by the humans. The unique combination of the characteristic which as a whole have given the insect the advantage and ability to survive several unusual environmental conditions are as follows: Factors Effects EXTERNAL EXOSKELETON or CUTICLE The waterproof and Tough cuticle assists in protecting the insects from dehydration and the predators. RAPID REPRODUCTION The Insects have a very high evolving rate and they also possess the ability to make quick adaptation in respect to the changing condition of the environment. FLIGHT The flight helps the insect to escape from the enemiesand predator; it also assists the insect in finding food source and new habitat rapidly, and in establishing new colonies. WING FOLDING PROTECTION The Insects can fold their wings back along their bodies protect it under hard covering known as elytra. This process has helped them to use microhabitats of varied range like the crevices and cracks in dead wood, under stones, or inside leaf litter. This also meansthat the insectcould hide from predators by the help of reduced surface area (Lowe et al., 2013). INSULATED CENTRAL NERVOUS SYSTEM The central nervous system insulation allows nerves to work proficiently. It permits the existence of the insect in hot or dry places. SIZE Small size permits adaptation to range of microhabitats for example a tree has provision for inhabiting variety of insect species. SHORT LIFE CYCLE This characteristic of the insect allows execution of new generations within a specific time for the evolution and selection to take place. VARIATION IN THE LIFE STYLE OF DIFFERENT STAGES Variation in different stages of life cycle of an insect (e.g. caterpillar to butterfly) decreases competition for resources within the species (Pieterse et al., 2012). SENSORY SOPHISTICATION The sensory capability of insect is superior to most other organisms. EVOLUTIONARY INTERACTIONS The interactions with other organisms leads to greater speciation and specialization and is also called as co-evolution ADAPTATION OF APPENDAGES Appendages such as wings, mouthparts and legs have become extremely specialized over time. Reference Chen, Y., Why, A., Batista, G., Mafra-Neto, A., Keogh, E. (2014).Flying insect classification with inexpensive sensors.Journal of insect behavior, 27(5), 657-677. Dobzhansky, T. (2013). Nothing in biology makes sense except in the light of evolution. The american biology teacher, 75(2), 87-91. Huang, M., Wan, X., Zhang, M., Zhu, Q. (2013). Detection of insect-damaged vegetable soybeans using hyperspectral transmittance image. Journal of Food Engineering, 116(1), 45-49. Laidlaw, P. P. (2014). Virus diseases and viruses.Cambridge University Press. Lowe, T., Garwood, R. J., Simonsen, T. J., Bradley, R. S., Withers, P. J. (2013). Metamorphosis revealed: time-lapse three-dimensional imaging inside a living chrysalis. Journal of the Royal Society Interface, 10(84), 20130304. Morales, M. G., Denno, B. D., Miller, D. R., Miller, G. L., Ben-Dov, Y., Hardy, N. B. (2016). ScaleNet: A Literature-based model of scale insect biology and systematics. Database, 2016, bav118. Patan, L., Hellbach, S., Krause, A. F., Arena, P., Drr, V. (2014). An insect-inspired bionic sensor for tactile localization and material classification with state-dependent modulation.Active Touch Sensing, 139. Pieterse, C. M., Van der Does, D., Zamioudis, C., Leon-Reyes, A., Van Wees, S. C. (2012).Hormonal modulation of plant immunity.Annual review of cell and developmental biology, 28, 489-521.

Fund Flow Statement Essay Example

Fund Flow Statement Paper FUNDS FLOW STATEMENT Meaning The term â€Å"Flow† means change and therefore, the term â€Å"Flow of Funds† means â€Å"Change in Funds† or â€Å"Change in Working Capital â€Å". In other works, any increase or decrease in working capital means â€Å"Flow of Funds†. There are two concepts of working capital – gross concept and net concept. †¢ Gross working capital refers to the firm’s investment in current assets †¢ Net working capital means excess of current assets over current liabilities. In business several transactions take place. Some of these transactions increase the funds while others decrease the funds. Some may not make any change in the funds position. In case a transaction results in increase in funds, it will be termed as â€Å"source of funds†. Eg. 1. Issue of shares  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   inflow of funds  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   source of fund   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2. Purchase of assets   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   leads to outgo of funds  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   application of funds According to the International Accounting Standard 7, the term ‘Fund’ refers to cash, to cash and cash equivalent, or to working capital. The term ‘flow’ refers to change and therefore the term ‘Funds flow† refers to ‘change in funds’ or ‘change in working capital’. In other words, any increase or decrease in working capital means ‘flow of funds’. Working capital = Current Assets – Current Liabilities    |   | |CURRENT ASSETS |CURRENT LIABILITIES | | |   | |   |   | |Cash and bank balances |Accounts payable | |Inventory Sundry creditors | |Sundry Debtors |Bank overdraft | |Temporary investments |Unclaimed dividends | |Pre-paid expenses |Provision for taxation* | |Outstanding incomes |Proposed dividends* | |Accounts receivables |Short term loans | |Bills receivables |   | |   | | *Provision for Taxation: It can be treated in two ways: 1. Treated as current liability: when there is no income tax paid or additional provision made it is treated as current liability. We will write a custom essay sample on Fund Flow Statement specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Fund Flow Statement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Fund Flow Statement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It can be taken to schedule of changes in working capital. No further treatment is required. 2. Treated as non-current liability: A ledger account (Provision for taxation a/c) is prepared. Sometimes we may have to arrive at income tax paid during the year from the given information. *Proposed Dividend: It can be treated in two ways: 1. Treated as current liability: Proposed dividend may be taken as Current liability since declaration of dividends by share holders is simply a formality. It is taken to schedule of changes in working capital with no further treatment. 2. Treated as non-current liability: Proposed dividend can be taken as an appropriation of profit. In such a case, proposed dividend for the current year will be added back to current year’s profit in order to find out funds from operations if such amount of dividend has already been charged to profit. Payment of dividend will be shown as an application of fund. NON CURRENT ASSETS AND NON CURRENT LIABILITIES |NON CURRENT LIABILITIES |NON CURRENT ASSETS | |Share capital |Fixed assets | |Long term loans |Fictitious assets like goodwill, patents, copyrights, | |Debentures |trademarks. |Share premium a/c |Long term investments | |Forfeited shares a/c |Profit and loss a/c (debit balance) | |Profit and loss a/c (credit bal) |Discount on issue of shares debentures | |Appropriation of profits |Deferred expenditures like preliminary expenses, advertising| |Provision for taxation |expenses. | |Provision for depreciation | | |Capital reserve | | |   | | Non fund Transaction: If the funds are Rs. 10000 and a fixed asset of Rs. 5000 is purchased by issuing shares of Rs. 000 the fund s position will not change and therefore this transaction will be taken as a non-fund transaction. BALANCE SHEET as on †¦Ã¢â‚¬ ¦. |Non-current liabilities: |   |Non-current Asset |   | |Share Capital: |   |Goodwill |50000 | |16% Redeemable Preference Shares of |   |Buildings |1,00,000 | |Rs. 10 each |   |Plant |1,00,000 | | |1,00,000 |Furniture |  Ã‚   50,000 | |Equity shares of Rs. 0 each |   |Long term Investment |   50,000 | | |1,00,000 | | | |Long term Loans: |   |   |   | |12%Debenture |1,00,000 | | | |Loan on Mortgage |  Ã‚   50,000 |   |   | |Reserves Surplus: |   |   |   | |General reserve |1,00,000 | | | |Profit Loss a/c |  Ã‚   50,000 | | | |Total non-current liabilities |   |Total Non-current Assets |   | | |5,00,000 | |3,50,000 | |Current liabilities: |   |Current Assets: |   | |Sundry creditors |   50,000 |Sundry Debtors |  Ã‚   80,000 | |Bills Payable |   50,000 |Bills receivable |  Ã‚   50,000 1,00,000| |Bank Overdraft |   25,000 |Inventories |  Ã‚   50,000 | |Outstanding expenses    25,000 |Pre-paid Expenses |  Ã‚   20,000 | | | |Cash balance | | |Total current liabilities |1,50,000 |Total current assets |3,00,000 | |Total liabilities |6,50,000 |Total assets |6,50,000 | Computation of Working capital: CURRENT ASSETS  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 3,00,000 CURRENT LIABILITIES   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 1,50,000 NET WORKING CAPITAL  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚   1,50,000 There will be flow of funds on account of change in working capital position. A few independent transactions are given below and the effect of each of the transaction on flow of funds is determined. 1. The company realizes Rs. 20,000 from its debtors. †¢ Debtors will reduce from Rs. 80,000  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      to   Rs. 60,000 †¢ Cash balance will increase from Rs. 20000 to   Rs. 40,000 CURRENT ASSETS  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 3,00,000 CURRENT LIABILITIES   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 1,50,000 ___________ NET WORKING CAPITAL  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1,50,000 ___________ There will be flow of funds on account of change in working capital position. †¢ This transaction will not bring any change in the working capital because it is simply conversion of one current asset into another current asset. 2. The company pays to its creditors a sum of Rs. 10,000 out of the cash balance. †¢ Cash balance gets reduced from Rs. 20,000 to Rs. 10,000  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   †¢ Sundry creditors will stand reduced from Rs. 50,000   to Rs. 40,000 CURRENT ASSETS  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 2,90,000 CURRENT LIABILITIES  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 1,40,000   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ________ WORKING CAPITAL  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚           Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   1,50,000   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ________ There will be no change in working capital position 3. The company purchases furniture of Rs. 10,000 by raising long-term loans of Rs. 10,000. This transaction will not have any effect on working capital position, since the transaction involves non-current asset and a non-current liability which are not the constituents of working capital. 4. The company redeems preference shares of Rs. 1,00,000 by issuing 12% debentures of Rs. 1,00,000. †¢ This transaction will not involve any change in the working capital since both the accounts involved are not the constituents of the working capital. 5. The company raises Rs. 50,000 in cash by issue of new shares. †¢ This transaction will increase the cash balance of the company from Rs. 20,000 to Rs. 70,000. The working capital position will be : Current Assets  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 3,50,000 Current Liabilities  Ã ‚   Rs. 1,50,000 __________ Working capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2,00,000 ___________ This transaction will increase the W. C 6. The company sells its building having a book value of Rs. 50,000 for a sum of Rs. 60,000. †¢ This transaction will increase the cash balance with the company from Rs. 20,000 to Rs. 80,000. Current Assets  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rs. 3,60,000 Current Liabilities  Ã‚   Rs. 1,50,000 __________ Working capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2,10,000 ___________ This transaction will increase the W. C From the above, the following general rules can be formed: 1. There will be flow of funds if a transaction involves: †¢ Current assets and fixed assets, e. g. purchase of building for cash †¢ Current assets and capital, e. g. , issue of shares for cash †¢ Current assets and fixed liabilities, e. g. edemption of debentures in cash †¢ Current liabilities and fixed liabilities, e. g. Creditors paid off in debentures †¢ Current liabilities and capital, e. g. , creditors paid off in shares. †¢ Current liabilities and fixed assets, e. g. building tr ansferred to creditors in satisfaction of their claims 2. There will be no flow of funds if a transaction involves. †¢ Current assets and current liabilities, e. g. , payment made to creditors through cash †¢ Fixed assets and fixed liabilities, e. g. , building purchased and payments made in debentures. †¢ Fixed assets and capital, e. g. building purchased and payment made in shares Funds Flow Diagram CURRENT ASSETS CASH IN HAND AT BANK MARKETABLE INVESTMENTS RECEIVABLES STOCKS PREPAID EXPENSES FIXED ASSETS: GOOD WILL BUILDING PLANT AND MACHINERY FUTURE AND FIXTURES LONG TERM INVESTMENTS CURRENT LIABILITIES BANK OVERDRAFT OUTSTANDING EXPENSES ACCOUNTS PAYBLE NON-CURRENT LIABILITIES   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   SHARE CAPITAL RESERVES AND SURPLUS DEBENTURES LONG TERM LOANS Flow Funds  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   No Flow of Funds ISSUE OF SHARES LONG-TERM BORROWINGS OPERATIONAL PROFIT SALE OF FIXED ASSETS FUNDS PAYMENT OF TAX / DIVIDEND OPERATIONAL LOSS PAYMENT OF LONG-TERM LOANS PURCHASE OF FIXED ASSET REDEMPTION OF PREF. SHARES Sources Uses APPLICATIONS Rules for preparing the schedule of changes in working capital: †¢ Increase in a current asset, results in increase   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (+) in â€Å"working capital† †¢ Decrease in a current asset, results in decrease   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (-) in â€Å"working capital† †¢ Increase in a current liability, results in decrease   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (-) in â€Å"working capital† †¢ Decrease in a current liability, results increase   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (+) in â€Å"working capital†. Illustration: From the following balance sheets of X Ltd, on 31st December, 1985 and 1986, you are required to prepare. (a) A schedule of changes on working capital (b) A Funds Flow Statement |Liabilities |1985 |1986 |Asset |1985 |198 6 | | |Rs. |Rs. |Rs. |Rs. | |Share Capital |1,00,000 |1,00,000 |Goodwill |12,000 |12,000 | |General Reserve |14,000 |18,000 |Building |40,000 |36,000 | |Profit Loss A/c |16,000 |13,000 |Plant |37,000 |36,000 | |Sundry Creditors |8,000 |5,400 |Investments |10,000 |11,000 | |Bills Payable |1,200 |800 |Stock |30,000 |23,400 |Provision for Taxation |16,000 |18,000 |Bills Receivable |2,000 |3,200 | |Provision for Doubtful Debts |400 |600 |Debtors |18,000 |19,000 | |   |   |   |Cash at Bank |6,600 |15,200 | |Total |1,55,600 |1,55,800 |   |1,55,600 |1,55,800 | The following additional information has also been given: (i)  Ã‚   Depreciation charged on plant was Rs. 4,000 and on Building Rs. 4,000 (ii)  Ã‚   Provision for Taxation of Rs. 19,000 was made during the year 1986. (iii)   Interim Dividend of Rs. 8,000 was paid during the year 1986. Solution SCHEDULE OF CHANGES IN WORKING CAPITAL |Particulars |1985 |1986 |Increase (+) |Decrease (-) | | |Rs. |Rs. |Rs. |Rs. |Current As sets: |   |   |   |   | |Cash at Bank |6,600 |15,200 |8,600 |   | |Debtors |18,000 |19,000 |1,000 |   | |Bills Receivable |2,000 |3,200 |1,200 |   | |Stock |30,000 |23,400 |   |6,600 | |Current Liabilities : |   |   |   |   | |Provision for doubtful debts |400 |600 |   |200 | |Bill Payable |1,200 |800 |400 |   | |Sundry Creditors |8,000 |5,400 |2,600 |   | |Total |   |   |13,800 |6,800 | |Net Increase in Working Capital |   |   |7,000 |   | FUNDS FLOW STATEMENT |Particulars |Rs. |Sources : |   | |Funds from Operations   Ã‚  Ã‚  Ã‚  Ã‚   (See Note 1) |36,000 | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      Total Sources |36,000 | |Applications: |   | |Purchase of Plant   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (See Note 2) |3,000 | |Tax paid   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (See Note 3) |17,000 | |Investments purchased   Ã‚  Ã‚  Ã‚  Ã‚   (See Note 4) |1,000 | |Interim Dividend paid |8,000 | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Total Applications |29,000 | |Net Increase in Working Capital |7,000 | Working Notes 1. Funds from Operations: |Particulars |Rs. |Rs. | |  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   Profit Loss account Balance on 31st Dec. , 1986 |   |13,000 | |Add : Items which do not decrease Funds from Operations: |à ‚   |   | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Transfer to General Reserve |4,000 |   | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Provision Tax |19. 00 |   | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Depreciation : |   |   | |Plant |4,000 |   | |Building |4,000 |   | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interim Dividend P’ble [Prov] |8,000 |39,000 | |   |   |52,000 | |Less: Profit Loss A/c balance 31st Dec. , 1985 |   |16,000 | |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Funds from operations for the year |   |36,000 | 2. Purchase of plant. This has been found out by preparing the plant Account. PLANT ACCOUNT |Particulars |Rs. |Particulars |Rs. |To Balance b/d |37,000 |By Depreciation |4,000 | |To Bank (purchase of plant balancing figure) |3,000 |By Balance c/d |36,000 | |   |40,000 |   |40,000 | 3. Tax paid during the year has been found out by preparing a provision for Tax Account PROVISION FOR TAX ACCOUNT |Particulars |Rs. |Particulars |Rs. | |To Bank (bei ng tax paid – bal fig) |17,000 |By Op. Balance b/f |16,000 | |To Cl. Balance c/d |  Ã‚  Ã‚  Ã‚   18,000 |By Prov. P L. A/c |19,000 | |   |35,000 |   |35,000 | 4. Investments’ have been taken as a fixed asset presuming that they are long-term investment. Illustration: Balance Sheet of M/s Black and White as on 1-1-1988 and 31-12-1988 were as follows: BALANCE SHEET |Liability |1-1-88 |31-12-88 |Asset |1-1-88 |31-12-88 | | |Rs. |Rs. | |Rs. |Rs. | |Creditors |40,000 |44,000 |Cash |10,000 |7,000 | |Mr. White’s Loan |25,000 |- |Debtors |30,000 |50,000 | |Loan from P. N Bank |40,000 |50,000 |Stock |35,000 |25,000 | |Capital |1,25,000 |1,53,000 |Machinery |80,000 |55,000 | |   |   |   |Land |40,000 |50,000 | |   |   |   |Building |35,000 |60,000 | |   |2,30,000 |2,47,000 |   |2,30,000 |2,47,000 | During the year machine costing Rs. 10,000 (accumulated depreciation Rs. 3,000) was sold for Rs. 5,000. The Provision for Depreciation against machinery as on 1-1-1988 was Rs. 25,000 and on 31-12-1988 Rs. 40,000. Net Profit for the 1988 amounted to Rs. 45,000. You are required to prepare Funds (Working Capital) Flow Statement. Solution: Funds Flow Statement For the year ending 31. 12. 1988 Particulars |Rs | |Source |   | |Loan from P N Bank |10,000 | |Sale of P M  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   [See Working Notes] |5,000 | |Funds from Operations  Ã‚  Ã‚  Ã‚  Ã‚   [See Working Notes] |65,000 | |Total  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |80,000 | |[1] | | |Application |   | |White’s Loan repaid |25,000 | |Partners’ Drawings  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   [See Working Notes] |17,000 | |Purchase of Land |10,000 | |Purchase of Building |25,000 | |Total  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |77,000 | |[2] | | |Increase in Working Capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   [1 – 2] |3,000 | Schedule of Changes in Working Capital |Particulars |1. 1. 88 |31. 12. 8 |Increase |Decrease | |Current Assets |   |   |   |   | |Cash |10,000 |7,000 |   |3,000 | |Debtors |30,000 |50,000 |20,000 |   | |Stock |35,000 |25,000 |   |10,000 | |Current Liabilities |   |   |   |   | |Creditors |40,000 |44,000 |   |4,000 | |   |   |   |20,000 |17,000 | |Increase in Working Capital   |   |   |3,000 |   | Working Notes: Funds from Operations Net Profit made during the year |45,000 | |Add: Loss on Sale of Machine [Non-operating expense] |2,000 | |[BV (Cost – Depr’n) – Cash realized] = [(10000 – 3000) – 5000] | | |Add:Depreciation on Machinery [See Prov. for depr’n on P M A/c] |18,000 | |Funds from Operations for the year |65,000 | N. B: Details about Depreciation on Buildings not provided for in the exercise. Hence, depreciation on building is not considered for arriving at Funds from operations. Capital A/c |Particulars |Rs. |Particulars |Rs. | |To Drawings a/c [Bal. fig. ] |17,000 |By Balance b/d |1,25,000 | |To Balance c/d |1,53,000 |By P L a/c [Profit for the yr] |45,000 | |Total |1,70,000 |Total |1,70,000 | Machinery Account |Particulars |Rs. |Particulars |Rs. |To Balance b/d |1,05,000 |By Provision for Depreciation on Machinery |3,000 | | | |sold | | |   |   |By Bank – P M sold |5,000 | |   |   |By Loss on Machinery sold [Balancing |2,000 | | | |figure] | | |   |   |By Balance c/d |95,000 | |Total |1,05,000 |Total |1,05,000 | Provision for Depreciation on Machinery |Particulars |Rs. |Particulars |Rs. | |To Machinery a/c 3,000 |By Balance b/d |25,000 | |[Prov. on P M sold] | | | | |To Balance c/d |40,000 |By P L a/c [depreciation provided drg. |18,,000 | | | |the year [Balancing figure] | | |Total |43,000 |Total |43,000 | Illustration: The following are the sum marized Balance sheets of Vivek Ltd. as on 31. 12. 1990 and 31. 12. 1991. Liabilities |1990 |1991 | | |Rs |Rs | |Share Capital |12,00,000 |16,00,000 | |Debentures |4,00,000 |6,00,000 | |P L A/c |2,50,000 |5,00,000 | |Creditors |2,30,000 |1,80,000 | |Provisions for: |   |   | |Bad Doubtful debts |12,000 |6,000 | |Depreciation on Land Bldng. |40,000 |48,000 | |Depreciation on Plant Machinery |60,000 |70,000 | |Total |21,92,000 |30,04,000 | |Assets |1990 |1991 | | |Rs |Rs | |Plant Machinery [At cost]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |12,90,000 | | |8,00,000 | | |Land Building [At cost] |6,00,000 |8,00,000 | |Stock |6,00,000 |7,00,000 | |Bank |40,000 |80,000 | |Preliminary Expenses |14,000 |12,000 | |Debtors |1,38,000 |1,22,000 | |Total |21,92,000 |30,04,000 | Additional Information: 1. During the year, a part of the machinery, costing Rs. 1,40,000 [accumulated depreciation thereon Rs. 4,000], was sold for Rs. 12,000. 2. Dividend of Rs. 1,00,000 was p aid during the year. Ascertain: 1. Change in Working capital for 1991. 2. Funds Flow statement for 1991. Solution: Particulars |Increase [+] |Decrease [-] | |Current Assets |   |   | |Stock |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1,00,000 |   | |Bank |40,000 |   | |Debtors |   |16,000 | |Current Liabilities |   |   | |Creditors |50,000 |   | |Provision for Doubtful Debts |6,000 |   | |   |1,96,000 |16,000 | |Increase in Working capital |1,80,000 |   | Funds Flow Statement |Particulars |   |Rs. |Sources: |   |   | |Issue of Shares |   |4,00,000 | |Issue of Debentures |   |2,00,000 | |Sale of Machinery |Working Note : 2 |12,000 | |Funds from Operations |   |4,98,000 | |Total of Sources [A] |   |11,10,000 | Applications: |   |   | |Purchase of Plant Machinery |Working Note : 1 |6,30,000 | |Purchase of Land Building |   |2,00,000 | |Payment of Dividend |   |1,00,000 | |Total Uses [B] |   |9,30,000 | |Increase in Wor king Capital [A – B] | |1,80,000 | Working Notes: 1 Plant Machinery A/c |Particulars |Rs. |Particulars |Rs. | |To Balance B/d |8,00,000 |By Bank |12,000 | |To Bank [Purchase of P M – Balancing |6,30,000 |By P L a/c [loss on sale] |1,24,000 | |Fig. | | | | |   |   |By Provision for Dep. |4,000 | | | |[On Plant sold] | | |   |   |By balance C/d |12,90,000 | |Total |14,30,000 |Total |14,30,000 | Working Notes: 2 Provision for Depreciation on Plant Machinery A/c |Particulars |Rs. |Particulars |Rs. |To Plant Machinery [Depreciation on Plant |4,000 |By Balance B/d |60,000 | |sold] | | | | |To Balance C/d |70,000 |By P L a/c [Balancing Fig. ] |14,000 | |Total |74,000 |Total |74,000 | Working Notes: 3 Adjusted P L A/c |Particulars |Rs. |Particulars |Rs. | |To Dividend |1,00,000 |By Balance B/d |2,50,000 | |To Prov. for Depreciation: |   |By Funds from Operations [Balancing Fig. ]|4,98,000 | |- Land Bldng. 8,000 |   |   | |- Plant Machinery |14,000 |   |   | |To Loss on sale of    |1,24,000 |   |   | |  Ã‚  Ã‚  Ã‚   Machinery  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   | | | | |To Preliminary Exp’s written- |2,000 |   |   | |  Ã‚  Ã‚  Ã‚   Off | | | | |To Balance C/d |5,00,000 |   |   | |   |7,48,000 |   |7,48,000 | Illustration: From the following Balance Sheet prepare: 1. Statement of Changes in Working Capital and 2. Funds Flow Statement BALANCE SHEET Liability |1990 |1991 |Asset |1990 |1991 | | |Rs. |Rs. | |Rs. |Rs. | |Equity Share Capital |3,00,000 |3,50,000 |Fixed Assets [Net] |5,10,000 |6,20,000 | |9% Preference Share Capital |2,00,000 |1,00,000 |Investments |30,000 |80,000 | |Debentures |1,00,000 |2,00,000 |Current Assets |2,40,000 |3,75,000 | |P L A/c |1,10,000 |2,70,000 |Discount on Debentures |10,000 |5,000 | |Prov. or Doubtful debts |10,000 |15,000 |   |   |   | |Current Liabilities |70,000 |1,45 ,000 |   |   |   | |   |7,90,000 |10,80,000 |   |7,90,000 |10,80,000 | Additional Information: 1. Preference Shares were redeemed at a premium of 5% during the year 1991. 2. Dividend at 15% on Equity Share for the year 1190 and Preference dividend for 1990 were paid. 3. The Provision for Depreciation stood at Rs. 1,50,000 and Rs. 1,90,000 for the year 1990 and 1991 respectively. 4. A machine costing Rs. 70,000, depreciation written off Rs. 30,000 was disposed off for Rs. 25,000. Solution: Step 1: Schedule of changes in Working Capital Particulars |1990 |1991 |Increase [+] |Decrease [-] | |Current Assets |2,40,000 |3,75,000 |1,35,000 |   | |Total Current Assets |2,40,000 |3,75,000 |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |   | |   |   |   |   |   | |Current Liabilities |70,000 |1,45,000 |   |75,000 | |Prov. or Doubtful debts |10,000 |15,000 |   |5,000 | |Total Current Liabilities |80,000 |1,60,000 |   |   | |Working Capital [A – B] |1,60,000 |2,15,000 |   |   | |Net Increase in Working capital |55,000 |   |   |55,000 | |Total |2,15,000 |2,15,000 |1,35,000 |1,35,000 | Step 2: Ledger Accounts for all Non-Current Assets and Liabilities Fixed Assets A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |6,60,000 |By Depreciation A/c |30,000 | |[5,10,000 + 1,50,000] | | | | |To Cash A/c [Purchases] |2,20,000 |By Cah a/c [Sale] |25,000 | |[Trf. to Funds Flow Stnt. – Bal. Fig. ] | |[Trf. to Funds Flow Stnt. | | |   |   |By Adjusted P L A/c |15,000 | | | |[Loss on Sale] | | |   |   |By Cl. Balance C/d |8,10,000 | | | |[6,20,000 + 1,90,000] | | |   |8,80,000 |   |8,80,000 | Depreciation A/c |Particulars |Rs. |Particulars |Rs. |To Machinery |30,000 |By Op. Balance B/d |1,50,000 | |[5,10,000 + 1,50,000] | | | | |To Cl. Balance C/d |1,90,000 |By Adjusted P L A/c |70,000 | | | |[Depreciation for Current yr. ] | | |   |2,20,000 |   |2,20,000 | Discount on Debenture A/c Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |10,000 |By Adjusted P L A/c |5,000 | | | |[Balancing Fig. ] | | |   |   |By Cl. Balance C/d |5,000 | |   |10,000 |   |10,000 | Equity Share Capital A/c Particulars |Rs. |Particulars |Rs. | |To Cl.. Balance C/d |3,50,000 |By Op. Balance B/d |3,00,000 | |   |   |By Cash A/c [Issue of Shares |50,000 | |   |3,50,000 |   |3,50,000 | Investments A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |30,000 |By Cl. Balance C/d |80,000 | |To Cash A/c [addl. Investment made] [trf. to|50,000 |   |   | |Funds Flow Stnt. – Bal. Fig. ] | | | | |   |80,000 |   |80,000 | 8% Preference Share Capital A/c |Particulars |Rs. |Particulars |Rs. | |To Cash A/c [Redemption at 5% premium] |1,05,000 |By Op. Balance B/d |2,00,000 | |[1,00,000 + 5,000] | | | | |To Cl. Balance C/d |1,00,000 |By Adjusted P L A/c [Premium] |5,000 | |   |2,05,000 |   |2,05,000 | Debentures A/c |Particulars |Rs. |Particulars |Rs. | |To Cl. Balance C/d |2,00,000 |By Op. Balance B/d |1,00,000 | |   |   |By Cash A/c [Issued] [Trf to Funds Flow |1,00,000 | | |Stnt. ] | | |   |2,00,000 |   |2,00,000 | Step 3: Adjusted Profit and Loss A/c |Particulars |Rs. |Particulars |Rs. | |To Loss on Machinery |15,000 |By Balance C/d |1,10,000 | |To Depreciation A/c |70,000 |By Funds from Operation [Balancing Fig. ] |3,16,000 | |To Premium on redemption of Pref. Shares |5,000 |   |   | |To dividends on Equity Shares |45,000 |   |   | |To Dividends on Preference Shares |16,000 |   |   | |To Discount on Debentures |5,000 |   |   | |To Balance C/d |2,70,000 |   |   | |   |4,26,000 |   |4,26,000 | Step 4: Funds Flow Statement |Sources |Rs. |Applications |Rs. |Issue of Shares |50,000 |Redemption of Preference Shares |1,05,000 | |Issue of Debentures |1,00,000 |Purchase of Fixed Assets |2,20,000 | |Sale of Machinery |25,000 |Equity Shares Dividends |45,000 | |Funds from Operation |3,16,000 |Preference Shares Dividends |16,000 | |   |   |Investments |50,000 | |   |   |Increase in Working Capital [Balancing |55,000 | | | |Fig. | | |   |4,91,000 |   |4,91,000 | Illustration: Following are the Comparative Balance Sheets of Goodluck Ltd. as at 31st March: BALANCE SHEET |Liability |1997 |1998 |Asset |1997 |1998 | | |Rs. |Rs. | |Rs. |Rs. | |Share Capital |10,00,000 |11,00,000 |Goodwill |50,000 |40,000 | |Debentures |5,0 0,000 |3,00,000 |Land |4,20,000 |6,60,000 | |Gen. Reserves |2,00,000 |2,00,000 |Machinery |6,00,000 |8,00,000 | |P L A/c |1,10,000 |1,90,000 |Stock |2,50,000 |2,10,000 | |Prov. for Tax |40,000 |1,10,000 |Debtors [Good] |3,00,000 |2,40,000 | |Creditors |50,000 |40,000 |Preliminary Exp’s |30,000 |20,000 | |Bills Payable |20,000 |30,000 |Cash |3,00,000 |24,000 | |Prov. or Doubtful debts |30,000 |24,000 |   |   |   | | |19,50,000 |19,94,000 |   |19,50,000 |19,94,000 | Additional Information: 1. During the year 1998, a part of machine costing Rs. 7,500 [accumulated depreciation thereon being Rs. 2,500] was sold for Rs. 3,000. 2. Income tax of 1997 was paid in 1998 Rs. 40,000. This is to be disclosed in the Funds statement. 3. Depreciation on Machinery for 1998 was provided at Rs. 50,000 Prepare: 1. A Statement of changes in Working Capital. 2. A Funds Flow Statement. Solution: Step 1: Schedule of changes in Working Capital Particulars |1997 |1998 |Increase [+] |Decrease [-] | |Current Assets |   |   |   |   | |Sto ck |2,50,000 |2,10,000 |   |40,000 | |Debtors |3,00,000 |2,40,000 |   |60,000 | |Cash |3,00,000 |24,000 |   |2,76,000 | |A. Total Current Assets |8,50,000 |4,74,000 |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |   | |   |   |   |   |   | |Current Liabilities |   |   |   |   | |Creditors |50,000 |40,000 |10,000 |   | |Bills Payable |20,000 |30,000 |   |10,000 | |Prov. for Doubtful debts |30,000 |24,000 |6,000 |   | |B. Total Current Liabilities |1,00,000 |94,000 |   |   | |Working Capital [A – B] |7,50,000 |3,80,000 |   |   | |Decrease in Working capital |   |3,70,000 |3,70,000 |   | |Total |7,50,000 |7,50,000 |3,86,000 |3,86,000 | Step 2: Ledger Accounts for all Non-Current Assets and Liabilities Goodwill A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |50,000 |By Adjusted P L A/c |10,000 | | | |[Goodwill written-off] | | |   |   |By Cl. Balance C/d |40,000 | | | |[6,20,000 + 1,90,000] | | |   |50,000 |   |50,000 | Land A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |4,20,000 |By Cl. Balance C/d |6,60,000 | |To Cash A/c [Purchases] [Trf. o Fund flow |2,40,000 |   | | |Stnt. – Bal. Fig. ] | | | | |   |6,60,000 |   |6,60,000 | Preliminary Expenses A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |30,000 |By Adjusted P L A/c [Written off] |10,000 | |   |   |By Cl. Balance C/d |20,000 | |   |30,000 |   |30,000 | Share Capital A/c |Particulars |Rs. |Particulars |Rs. | |To Cl. Balance C/d |11,00,000 |By Op. Balance B/d |10,00,000 | |   |   |By Cash a/c [Issue of Shares] [Trf. to Fund|1,00,000 | | | |Flow    Stnt. – Balancing Fig. | | |   |11,00,000 |   |11,00,000 | Machinery A/c |Particulars |Rs. |Particulars |Rs. | |To Op. Balance B/d |6. 00,000 |By Cash A/c [Sale] [Transfer to Fund Flow |3,000 | | | |Stnt] | | |To Cash A/c [Purchases] [Trf. to Fund flow |2,57,500 |By Revised P L A/c [Depreciation] |50,000 | |Stnt. – Bal. Fig. | | | | |   |   |By Revised P L A/c [Depreciation] |2,500 | |   |   |By Adjusted P L A/c |2,000 | | | |[Loss on sale] | | |   |   |By Cl. Balance C/d |8,00,000 | |   |8,57,500 |   |8,57,500 | Debentures A/c |Particulars |Rs. |Particulars |Rs. |To Cash A/c [Redemption] |2,00,000 |By Op. Balance B/d |5,00,000 | |[Transfer to Fund Flow Stnt] | | | | |To Cl. Balance C/d |3,00,000 |   |   | |   |5,00,000 |   |5,00,000 | Provision for Tax A/c |Particulars |Rs. |Particulars |Rs. | |To Cash A/c [Income Tax Paid] |40,000 |By Op. Balance B/d |40,000 | |[Transfer to Fund Flow Stnt] | | | | |To Cl. Balance C/d |1,10,000 |By Adjusted P L A/c |1,10,000 | | | |[Prov. made Balancing Fig. ] | | |   |1,50,000 |   |1,50,000 | General Reserve A/c |Particulars |Rs. |Particulars |Rs. | |To Cl. Balance C/d |2,00,000 |By Op. Balance B/d |2,00000 | |   |2,00,000 |   |2,00,000 | Step 3: Adjusted Profit and Loss A/c |Particulars |Rs. |Particulars |Rs. | |To Provision for Tax |1,10,000 |By Balance C/d |1,10,000 | |To Preliminary Exp’s written-off |10,000 |By Funds from Operation [Balancing Fig. ] |2,64,500 | |To Depreciation on Machinery |50,000 |   |   | |To Depreciation on Machinery |2,500 |   |   | |To Loss on sale of Machinery |2,000 |   |   | |To Goodwill written-off |10,000 |   |   | |To Balance C/d |1,90,000 |   |   | |   |3,74,500 |   |3,74,500 | Step 4: Funds Flow Statement |Sources |Rs. |Applications |Rs. |Sale of Machinery |3,000 |Purchase of Land |2,40,000 | |Issue of Shares |1,00,000 |Purchase of Machinery |2,57,500 | |Funds from Operation |2,64,500 |Redemption of Debentures |2,00,000 | |Decrease in Working Capital [Balancing |3,70,000 |Income Tax paid |40,000 | |Fig. ] | | | | |   |7,37,500 |   |7,37,500 | Illustration: Following is the   Balance Sheet of Tayco as on December 31st, 1998 and 1999: BALANCE SHEET |Liability |1998 |1999 |Asset |1998 |1999 | | |Rs. |Rs. | |Rs. |Rs. |Share Capital |2,00,000 |2,50,000 |Land Bldng. |2,00,000 |1,90,000 | |Gen. Reserves |50,000 |60,000 |Machinery |1,50,000 |1,69,000 | |P L A/c |30,500 |30,600 |Stock |1,00,000 |74,000 | |Bank Loan |70,000 |- |Sdry. Debtors | 80,000 |64,200 | |Sundry Creditors |1,50,000 |1,35,200 |Cash |500 |600 | |Prov. or Taxation |30,000 |35,000 |Bank |- |8,000 | |   |   |   |Goodwill |   |5,000 | |   |   |   |   |   |   | |   |5,30,500 |5,10,800 |   |5,30,500 |5,10,800 | Additional Information: 1. During the year ended December 1999: a. Dividend of Rs,23,000 was paid and b. Asseets of another Company were purchased for a consideration of Rs. 50,000 payable in Shasres. 2. The following Assets were purchased: a. Stock Rs. 20,000. b. Machinery Rs. 25,000, additional purchase Rs. 8,000. c. Depreciation written-off on Machinery Rs. 12,000. d. Income tax paid during the year Rs. 33,000 e. Loss on sale of machine Rs. 200 was written-off to   General Reserve You are required to prepare the Statement of Fund Flow Solution: Step 1: Schedule of changes in Working Capital |Particulars |1997 |1998 |Increase [+] |Decrease [-] | |Current Assets |   |   |   |   | |Stock |1,00,000 |74,000 |   |26,000 | |Sdry. Debtors |80,000 |64,200 |   |15,800 | |Cash |500 |600 |100 |   | |Bank |- |8,000 |8,000 |   | |A. Total Current Assets |1,80,500 |1,46,800 |  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   |   | |Current Liabilities |   |   |   |   | |Sdry

Reducing the Military essays

Reducing the Military essays With the end of the Cold War Americas armed forces are too large and expensive to maintain while in an era of peace. The roles of the military has changed, and the United States has come to the conclusion that military might no longer means having the larger force. Politicians have initiated the closure of bases, the reduced production by defense contractors, the decrease in military and civilian personnel. The actions taken to reduce the military has left dwindling numbers, and this must be changed to ensure that the U.S. military continues to be a mighty super power. The idea of a smaller military was not even considered during the Cold War, but today the treat to America is at a all-time low. This has sparked politicians to restructure the forces and reduce the spending needed to maintain those forces. These reductions are based on the budget spending what is not cost effective to the U.S. and the public. The cost cutting needs to be done, without too large of an effect on the employed personnel, whether military or civilian (ORourke, 2). Though the reductions in the forces still needs to be made, careful monitoring of the amounts of The reductions in personnel have gone past the recommended limit set Congress, and have created a greater need for personnel. If a conflict were to happen to day, the U.S. could only send four heavy divisions, compared to the seven sent during the Gulf War. This greatly decreases Americas ability to thwart an attack from several different countries at one time. This idea of sustaining several conflicts at one time has been a major Because the U.S. is the last great superpower, it is a very large target, and when involvement is needed to aid others the forces are diminished the ability to be an effective deterrent. Analysts have seen an increased demand for the continued policing actions that ...

Modernism in Music and Politics and Culture in Postwar France Essay

Modernism in Music and Politics and Culture in Postwar France - Essay Example London: MacMillan, 1999, pp. 84-85) 1. General Contents: This article discusses the existentialism school of thought that was prevalent in post-World War II France. Sartre introduces a school of thought that is called commitment, but in the end he has to adjust his notions to include the textual reality into his ideas2. 2. Qualifications: Jean-Paul Sartre was a playwright, novelist, and philosopher who lived between 1905 and 1980. 3. Evaluation of Credibility: Sartre was an influential figure in Post World War II France. He held on to his revolutionary beliefs concerning politics, and human existence. His stance on these matters drew controversy; yet he at the same time had an attachment to the traditional modes of cultural expression. His ideas were of relevance to, and appealed to the contemporary world. He developed a secular form of existentialism. His ideas insisted that existence comes before essence, and rejected the supernatural. He was of the opinion that modern culture was saturated with existentialism, as an intellectual movement. 4. Intended Audience: This essay is very helpful to everyone who is concerned about the way pertinent issues in the society can be addressed. By following the arguments that Sartreans, and the opposing writers and intellectuals advanced; one is able to understand how literature can be used to influence society3. The article is an interesting read, very insightful. In my opinion though, one should read it with an open mind. When one has a preformed ideology, then personal biases may prevent them from appreciating the factors that were inherent of the opposing sides. ESSAY MODERNISM To... This "Modernism in Music and Politics and Culture in Postwar France" outlines the existentialism school of thought that was prevalent in post-World War II France. Sartre introduces a school of thought that is called commitment, but in the end, he has to adjust his notions to include the textual reality into his ideas. To some writers, musical modernism extends from around 1890 to the 1930s. The period after that is often referred to as the post-modernism era. Industrialization, technological advances, and scientific discoveries that were taking place at the time of early musical modernism, meant radical reforms in musical expression. Individuals were trying to come to grips with a society which was becoming increasingly complex. Leon Botstein was of the opinion that alienation and isolation of individuals had resulted in heightened sensitivity. The intensity of personal emotions was concomitant, and it accompanied the sense of discontinuity, and newness that pervaded the first years of the century . Rhythmic strands were layered, and they started being based on two, or more metric frameworks that run concurrently. He asserted that the domination of industry, science, and technology was a characteristic feature of the modernism era. In addition to this, mechanization, nationalization, urbanization, positivism, and mass culture all had a role to play in influencing musical styles of this time. Several aspects of music changed during this time. The language of music and tonal organization were revolutionized.

Research Case Study Example | Topics and Well Written Essays - 500 words

Research - Case Study Example (Baer, 34) Implementing a fixed exchange rate in Brazil is not a plausible concept because the value of the currency is constantly decreasing with the constant flooding of the currency in the market. The availability of the currency has prompted the currency to continuously lose its value, hence the increase in inflation (Taylor, 76). The same strategy (of using a fixed system) was applied in Zimbabwe, but the country succumbed to the harsh nature of inflation, this led to the country disregarding the local currency and using US Dollars instead. The URV or Unidade Real de Valor is a currency that is used in Brazil that is not subjected to the effects of inflation in Brazil. The aim was to absorb the effects of inflation in the country. The Brazil government implemented a fixed exchange rate for the URV to the Dollar (1 URV = 1 USD). However, the main problem was the fact that obtaining the URV was expensive as compared to using cruzerios reais, which is widely used in Brazil (1 URV = CR$ 2,750). The demand for the URV has only served to increase the exchange rate, and it is playing its part in the inflation that has plagued Brazil. (Blanchard, 54) Implementing a free-floating exchange rate will allow the currency to trade based on the conditions and regulations that are implemented in the market. The advantage is that the exchange rate will be stabilized by these market forces hence serve to regulate the exchange in the best interest of the market. However, the major disadvantage is that, excess freedom in the market, may encourage cartels to manipulate the exchange rate to their advantage, which may inconvenience other players in the market. Implementing both fixed and free-floating exchange rate mechanisms would be the ideal setting for the market. There should be freedom in the market that will allow the market to determine the suitable exchange rate for the operations of the market (Lagassa, 98). The

Hospitality Facilities Management Essay Example | Topics and Well Written Essays - 1500 words

Hospitality Facilities Management - Essay Example As mentioned above, construction methods and materials greatly affect the environment, however, as a result of ongoing research in building technology and resulting breakthroughs have enabled Hotel industry to bring environment friendly buildings. Resort amenities too, are becoming more ‘environment friendly.’ For example, Golf resorts are using non chemical pesticides for its golf courses. A number of them are using golf carts powered by alternative energy sources. Awareness as to how to protect the natural environment is on the rise and more and more hotels are becoming environment friendly or ‘Green.’ An increasing number of hotels are taking measures like creating services or products that help guests with the problems emanating from the environment for example treated rooms for chemically sensitive or allergy prone people. Also, selecting suppliers with good reputation and established standards for helping environmental preservation. Hotel and Resort brands the world over are developing service concepts that can be called ‘green.’ Asian hotels are taking a lead in developing green services and products and branding them as environment friendly. In the Caribbean, the lodging sector is leading the world in number of certified environment friendly hotels. New models of niche luxury ecotourism resorts are being developed emanating from the Maho Bay camp in St.John in the Caribbean, which is supposedly world’s first ‘eco tourist resort.’

The Importance Of Personal Networks Social Work Essay

The Importance Of Personal Networks Social Work Essay Personal networks are an important factor in peoples daily lives. People who are embeded in a network of personal relationships experience a higher level of well-being than those who are socially isolated.The following is a critical reflection analysis about themes that I found to be most meaningful during the course of the term. The themes include the importance of a social network for the older adult, as well as how this type of network can impact their quality of life. An exploration of these themes will be provided using literature along with my own personal experience. This reflection will highlight the insight that I have gained from this analysis as it relates to my future nursing practice. In addition this reflection will address nursing implications for providing superior client relations. Exploration of Themes Social relationships of older adults along with their access to social support networks can influence the general health and well being of this population ( ). The existences of social support networks are important for the older adults identity, self-respect, social integration, feeling of security, companionship, as well as practical and emotional support. For example, my grandparents live alone, however, at the same time they have a network of friends, relatives and inter-faith community members on which they can depend on. On the other hand, my neighbour who is 76 years and widowed, is isolated from meaningful and supportive social relationships. My insight into the plight of the elderly, combined with my compassion towards this vulnerable population, compels me to visit her home and spend prolonged time in conversation. We talk at length about her day, her baking, and her fond memories. My neighbour often expresses a deep sense of appreciation for my frequent visits and I feel s atisfacation that she allows me to participate in her enthusiasm and happiness. A social network can stimulate the mind of the older adult as well as increase their level of energy and motivation. If the older adult lacks the support of a social network, it can often lead to isolation and depression ( ). There are a variety of social factors that contribute to an older adult being socially isolated. This includes being female, having a low income, being widowed or divorced, are experiencing family conflicts, and lastly who are experiencing ageism (BC article). According to these criteria, my neighbour is definitely at risk of being socially isolated. Evidence suggests that there are health promoting effects of social relationships. Socially isolated older adults have a two-fold increase in mortality from all causes (Jeannette, 2009). A lack of social support among the older adult population has been associated with a variety of adverse health outcomes in older age, ranging from depression and self-harm, to deteriorating physical health. (Jeanneate) (Dennis et al ., 2005). Research supports that various types of social support from different sources are associated with positive health outcomes. Social relationships are also thought to be a key factor in psychological health including an individuals happiness and subjective well being (tomaka). In a study that looked at the ranking of importance of different aspects of life for adults over the age of 65, they consistently ranked their relationships with their family and friends as the second most important factor after their health (Kobayashi, Cloutier-Fisher Roth, 2008). Among the older adult population, the social integration and overall participation in society are considered vital indicators of productive and health ageing ( ). According to the World Health Organization (2003), social support for the older adult population has a strong protective effect on overall health and can influence their quality of life (QOL). The QOL for the older adult that have chronic illnesses and who live at home are highly influenced by the presence of and the accessibility to social networks. Therefore, finding ways to help older adults engage in social networks that are productive and enjoyable is an important aspect of ageing. Future Nursing Practice and Nursing Implications Throughout my analysis, I have gained a great deal of insight with regard to the importance of a having a social network and its impact on the QOL of older adults. It has increased my awareness and compassion to the importance of friends, family and community support in creating a social network for the older adult in order to maintain or increase their overall QOL. It is important to reduce the amount of isolation that older adults face even those that have families. In practice, it is paramount for nurses to be aware of the older adults social support networks, along with advocating for the creation of further networks in order to tailor to the complex needs of older adults. Upon reflection, I would use Newmans theory of Health as Expanding Consciousness as my approach when I consider the importance of ensuring that social support networks are in place for my clients prior to discharge from a hospital. Newman (2004) describes human beings as open energy systems in constant interac tion with the environment. Therefore, the way for nurses to understand the health of an older adult is by understanding the individuals pattern of relating to the environment. Thus being said, the social network of an adult is crucial to reduce dependency among the older adult population by improving time spent with this group and having more interaction with the elderly (Souraya LeClerc, 2008) In conclusion, despite the salience of recent studies devoted to ageism that examines social support and well-being, this body of nursing research has paid limited attention to the increasing prevalence of social isolation among older adults in Canada or its relationship with health status. More research is needed in these areas as older adult Canadians are living longer, alone, and with a reduced number of social contacts (McPherson, 2004). Social isolation is not an easy topic for policy. It is a problem that cannot be identified with more familiar social topics as education, economic independence, societal participation and social cohesion. Nurses need to advocate on the importance of gaining emotional, practical and relational support for this population. This reflection has brought up the issue of mental health among the older adult population. From a personal standpoint, it saddens me to see the lack of interaction that exist among the older adult population suffering from a mental illness. I believe that further attention needs to be focused in this area by creating more social support programs and increasing access to these services for this cohort. As a result of this experience I have become more professionally attentive to my interactions with the older adult client on the units that I am working on. Being empathetic has made me realize that it must be challenging for the older adult to be looked after as they were once independent individuals who could take care of themselves. I can see how nurses can become frustrated with this population combined with a heavy workload, but I do feel that this population carries with them a lot of wealth and wisdom. Introduction Identification of theme(s) in your reflective writing. Exploration and analysis of themes that are most meaningful to you Significant learning or insights gained from your analysis that will guide your practice Nursing implications Choose any 2 topics; use references; combination reflection + scholarly Jeannette, G., et al. (2009). Loneliness, social support networks, mood and wellbeing in community-dwelling elderly. International Journal of Geriatric Psychiatry,24 (7): 694- 700. Tomaka, J., Thompson, S., Palacios, S. (2006). The relation of social isolation, loneliness, and social support to disease outcomes among the elderly. Journal of Ageing and Health, 18(3), 359-384.   Kobayashi, K., Cloutier-Fisher, D., Roth, M. (2008). Making meaningful connections: a profile of social isolation and health among older adults in small town and small city, British Columbia. Journal of aging and health, 21(2), 374. When measuring the level of access that older adults have to social support networks or the risk of social isolation, it can provide a valuable means to gathering information on their living arrangements (stats can).

Progression and the Structure of The Blue Hotel :: Blue Hotel Essays

Progression and the Structure of The Blue Hotel In his essay, Robert F. Gleckner discusses progression, as it is related to the structure of "The Blue Hotel." He follows the progression of power and control in the story, as it shifts to different characters. Gleckner also follows the progression of the storm outside and how it symbolizes a natural force that will always be more powerful than human control. In the beginning of "The Blue Hotel," Scully has the power, as he "practically makes [his three guests] prisoners. They are "conducted" into the Blue Hotel. At this time the Swede feels weak and nervous in the unfamiliar territory and scared of "The West." Scully shows his power over the paranoid Swede by saying, "If anybody has troubled you I will take care of him. This is my house. You are under my roof, and I will not allow any peaceable man to be troubled here." As the story progresses, Scully loses control, and the power shifts to the Swede. Gleckner states, "With his final gesture of warm comradeship, the offer of his private whiskey, Scully loses control completely. . .the Swede regains control of himself and will now try to extend it, like Scully, to all men." When they return to the card game the Swede shows his control subtly by sitting where he wants and getting his own drink. Scully tries to regain his control by talking about the guests "under his roof," but the Swede continues to exert his power by insisting on another game High-Five. During this next game, control shifts between characters. Gleckner writes, "the cowboy and the Swede whack the board in violent control; Johnnie cheats to control; the Easterner allows the others to control by remaining silent." During the fight as well, each character tries to gain control, "Scully by refereeing, the cowboy by restraining the Swede, the Easterner by pleading to end the fight, all thr ee of them by cheering." As these shifts of control occur, Gleckner analyzes the storm. He writes about how "Crane suggests a greater force imminent, ready to take over at any moment. . .The storm takes over, dashing the cards 'helplessly' against the wall, ripping words away from the lips of Scully and the Swede, overshadowing and surrounding the entire fight." Gleckner believes Crane is showing that even as the human characters fight for control, there will always be a more powerful natural force.

Ballet or Football

Ashley Barnes Allie D. Rogers Engl 1010- 431 October 1, 2012 Ballet or Football? Ballet and football are both difficult sports to master; however, someone once said, â€Å"If ballet were any easier, they’d call it football. † What makes for a good sport? Every sport has rules and regulations that one must follow in order to play. The sport requires specific skills such as strength, coordination, and speed. A good sport has a certain level of safety to keep the participants safe and requires a lot of teamwork so that every is playing together. I personally think ballet is the more technical of the two.Ballet is much more complex than football. Every sport requires you to follow certain guidelines. In football, the player can’t grab the opponent in certain ways or a yellow flag will be thrown on the ground to indicate holding or some penalty that no one has even heard of before. Football has rules that the team must obey. On the other hand, ballet is less restricte d than football. They are no rules in ballet. Ballet is a form of art; there are no limitations on art. Ballet is not about winning or following any rules; it is about expression through movement.Although there is more freedom in ballet, there is a lot of technique required. You must hold your arms a certain way so that they do not droop, and you must always remember the turn out of your thigh when you tendu. Ballet may not have rules, but there are still plenty of little details to remember. Strength is a major component of almost any sport. In football, the quarterback relies on two hundred and fifty pound linemen to block so that he can get the ball in the end zone. The defensive linemen have to use their upper body strength to hold the opposing team and keep them from getting to the ball.They use their lower body to stand strong to hold their ground like grabbing a bull by the horns. Ballet requires a totally different kind of strength than football does. Dancers use their upper bodies to hold their arms above their heads in a perfect beach ball shaped fifth position while still keeping their shoulders down for thirty minutes at a time. They use their lower body strength to push out of a plie to a pique turn and have to maintain the core strength, so they do not wobble too much. Football does not require much coordination.It wasn’t a sport that was meant to be pretty. It was meant to be rough and rugged for the manliest of men. While watching the game, half of the time you don’t even know if they meant to fall down or if they just happen to be clumsy enough to fall over their own two feet. It tends to be one big dog pile play after play. In ballet, coordination is everything. Dancers must make sure they are in the exact spot that they are supposed to be at and be in sync with every other dancer on the stage. Pierce Brosnan said, â€Å"Love is a lot like dancing; you just surrender to the music† (Willcutt).Every beat must be a white fla g waving and show complete dedication to the music. Dancers have to be coordinated enough to do long elaborate pieces of choreography while still maintaining a smile on their faces. Ballerinas must make every single movement appear effortless. In football, speed is very important when a wide receiver is trying to run the ball down the field. It is his speed that helps him to pass by the other players in lightning speed so fast that they do not even know what hit them. I know what you’re thinking†¦. why would you need speed in ballet?However, not one ballerina would ever dream of doing a slow fouette, a move in which you whip your leg around to spin. It would be a disaster. Fouettes are meant to be fast to get your body around faster to make your pirouettes prettier. Speed and extreme focus is what makes a ballerina capable of turning. Although countless football players get hurt yearly, they have equipment that is specifically designed to keep them from serious injury. F ootball players risk injury every time they step foot out on that field, but if they fall down, their equipment is there to take the majority of the impact.Safety is important in any sport you play; that is why in football the players wear pads and helmets for protection. However, dancers must maintain a flawless posture to keep from injuring themselves. There is no special equipment for a dancer to use to keep themselves to safe. A dancer must rely on stretching to warm up his or her muscles. Dancers have to take every good care of their ankles and knees because they are constantly at risk of injury. If a dancer twists her ankle on stage during a performance, she doesn’t call in the second string.She sucks it up, puts on a brave face, and keeps on dancing. Teamwork is important in football because if you don’t read your guards, then you are liable to screw the entire play up. The player must know what the play is and what exact role everyone is going to play. The play ers huddle up before each play to strategize against the other team. They break off and have to rely on their teammates to do what is required of them. Vince Lombardi said, â€Å"People who work together will win, whether it be against complex football defenses, or the problems of modern society† (Family of Vince).When you think of the word team, you don’t exactly picture a group of ballerinas dancing on a shiny hardwood stage. You stereotypically think of the Pittsburg Steelers or some other NFL team. However, in ballet, every dancer is part of a team. You have to be so in tune with one another that as soon as the music begins, everyone begins to dance as if a bunch of puppets moving on strings. If one â€Å"teammate† loses rhythm then the whole performance suffers. Dancers rehearse with their fellow dancers for weeks and weeks to perfect their dance so that it will be flawless.In the end, ballet and football require a great amount of passion and determination. If you do not have the heart, you will not be willing to put in the blood, sweat, and tears that it takes to pursue the sport whole-heartedly. Although football may be a little easier, both sports demand a lot of hard work. Works Cited Family of Vince Lombardi c/o Luminary Group LLC. â€Å"Famous Quotes by Vince Lombardi. † Vince Lombardi. 2010. Web. October 4, 2012. Willcutt, Sara. â€Å"Dance Quotes 3. † Ascending Star Dance- An Internet Dance Magazine. 2007. Web. October 4, 2012.

To Kill A Mockingbird Theme essays

To Kill A Mockingbird Theme essays I find it very ironic how some people get away with actions that are wrong or different. Although times have changed and always will in the future, their are many situations that call for the rules or laws to be bent. Personally, I come across these situations daily and still say, Thats not fair! and Why do they get to get away with that? After thinking it over a while, I usually conclude that its probably for the better, even though others dont agree. Lees To Kill A Mockingbird also shows us some examples. At school, Scout and Miss Caroline meet Burris Ewell. Burris is obviously a troublemaker and causes Miss Caroline much distress. He ends up walking out of school on the first day. This did not alarm the most of the students because most of them knew about the Ewells situation. That night, Atticus explained to Scout that the Ewells had never done as honest days work. The truant officer said that after they were on roll the first day that she had done her job. Atticus said that its silly to force someone into a new environment and in this case, its better to bend the law. This idea of bending the law also applies to one of Boos situations. On Halloween night, a pageant was held instead of the usually festivities. Just about everyone in town was present, including Scout dressed as a ham. After the event was over, Atticus allowed Jem and Scout to walk home through the forest alone. As they were making their way through, they were attacked by a person who turned out to by Bob Ewell. He attacked both the children, knocking Jem out. Then suddenly, a dark mysterious figure appeared and started to struggle with Bob Ewell. It was later confirmed that this unknown figure was in fact Boo Radley. Boo ended up Ewell by stabbing him, and then carrying Jem home to bed. When the sheriff and Atticus performed a primary investiga...

Totalitarianism in Poland essays

Totalitarianism in Poland essays The Totalitarian dictatorships possess many traits or trait clusters to which I am going to apply to Poland. I will compare this ideology of totalitarianism with the novels Ashes (1) The first trait of totalitarianism is that it an elaborate ideology, consisting of an official body of doctrine covering all vital aspects of mans existence to which everyone living in that society is supposed to adhere. It is set upon radical rejection of the existing society with conquest of the world for the new one. There is no government like totalitarian dictatorship has been ever existed, because regimes lack the traits in a large extent. In Poland it was the ideology of Marxism to which every student in Poland we required to read it. This was the doctrine that used to control the aspect of society. In 1939 Russia (then allied with Germany) invaded from the east, and the country was divided between Germany and Russia. When Germany attacked the USSR in 1941, all of Poland came under German rule. Massacres, starvation, and concentration camps decimated the population of Poland. Poland was the only country to combat Germany from the first day of the Polish invasion until the end of the war in Europe. In Poland itself, most elements of resistance to the German regime organized under the banner of the Home Army (AK). The AK became one of the largest and most effective underground movements of World War II. Commanding popular support, it functioned as a force, conducting a vigorous campaign of sabotage and intelligence gathering, and as a means of social defense against the invaders. (2) The second trait of totalitarianism is that it contains a single mass party typically led by one man the dictator,&quo...

Management verses leadership Essay Example | Topics and Well Written Essays - 750 words

Management verses leadership - Essay Example Responsibility and accountability for the use of organizational resources accompany the power accorded to a manager or director. In contrast, the term leader implies effective use of influence that is somewhat independent of the formal authority granted to an individual because of position. Leadership cannot be granted to a person by a higher authority; rather, those who decide to follow bestow it on an individual. While managers have formal authority, leaders have the informal ability to get things done by attracting and influencing followers. Effective managers in any organizations must be leaders also, and many leaders become managers, leaders, and directors. The two sets of roles and functions, however, differ (Steven, 2001). If we have to list out the qualities a good leader should possess, the first and foremost is that leaders are good listeners. An effective leader listens emphatically. He welcomes ideas and inputs from his team. This promotes harmony within the team. Leaders are good decision makers. An effective leader, who is focused, authentic, courageous and emphatic, must also have the proper timing in making and executing decisions. Time management is the important parts of good leadership. It is also important to set an example to the team through proper time management. A leader must have talent or specific skills at some task at han... He must be a role model, someone who leads by example. Self-knowledge and self-awareness are also essential characteristics. A leader trusts in his team and motivates them for high performance. A good leader is always generous in praising and recognizing each individual who is a performer and appreciate all contributions, big and small. A leader must project fearlessness in facing challenges. A leader must stand firm even in the presence of criticisms, but still having the courage to admit his mistakes (Smith, 2005).The most important attribute for a leader is being principle-centered. Centering on principles that are universal and timeless provides a foundation and compass to guide every decision and every act. All enduring philosophies, religions and thoughts are based on principles such as integrity, compassion, trust, honesty, accountability and others at their core. (Khan, 2005). Management and the roles of Managers in Organizations A typical definition is that "manager's work toward the organization's goals using its resources in an effective and efficient manner." In any organizations, different levels of managers are present they include top managers, middle managers and first-line managers. Top (or executive) managers are responsible for overseeing the whole organization and typically engage in more strategic and conceptual matters, with less attention to day-to-day detail. Top managers have middle managers working for them and who are in charge of a major function or department. Middle managers may have first-line managers working for them and who are responsible to manage the day-to-day activities of a group of workers (McNamara, 1999). For a healthy organization it is essential to have both good leaders as well as good managers.