Wednesday, March 25, 2020
Children are our future. Therefore, it is important to provide and empower them with the best education. Education is the foremost and profound factor on the well-being and advancement of our society. To be a teacher is very rewarding to me on a personal level. A teacher, besides their parents, plays a critical role in cultivating our children to build a better society in the future. A teacher can be a role model to her students. I would love to contribute to our society by utilizing my extensive work experience and advanced education in taking on all the challenges of the important role of being a teacher. The teachers most important responsibilities are: her thorough knowledge of the subject; the ability to articulate such knowledge that is easily understood and grasped by her students; motivate her students to learn; and instill in her students the importance of discipline that will benefit them now and the future. We will write a custom essay sample on Why I Want to Be a Teacher or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page My experience is teaching my nieces and nephews on how to ski. I motivated them by showing that skiing is a fun and healthy cardio activity. It was an easy task as I was able to prove that this sport is exciting and enjoyable; and is something I reward myself with on holidays and weekends every winter. In the beginning, they were reluctant to go through the boring lessons to learn the basics and practice. I explained to them that they must first master doing the stops, making the turns, getting on and off the lift chair and so on. I reminded them the importance of mastering these basics with extensive practice before they could truly enjoy the sport; and taking any short cut can result in injury. Another important aspect in effectively teaching them was to observe and monitor their progress to identify where they needed help and focused on improving their weak spots. Then I enrolled them to the appropriate morning lessons. After the class, I discussed with their instructors about their progress and what they needed to work on. Then, I skied with them in the afternoons on the level based on the instructors recommendation and feedback. I have been taking them to ski for the past 10 years. It is truly joyful and rewarding to see them advanced to the intermediate level today. During the last Christmas Eve I skied down the black diamond(most difficult) trail with my youngest niece during our annual ski trip. As we were swooshing down the trail she turned and said, Thanks, because of you we enjoy skiing down the advanced trails today. I replied, Youre welcome young lady, it has been a pleasure and now I have myself a few skiing buddies. During the economic downturn in Hong Kong in 1970, my family immigrated to America. In contrast to Hong Kong, the education in this country is accessible, available, and affordable on all levels to the financially disadvantaged. My parents had worked in a restaurant and factory earning minimum wages while raising five children. The family siblings obtained their early education within the school system of the low-income communities; and went on to gain college degrees in the bachelor science level and beyond. Higher education opened doors for all five of us in our careers. We are forever grateful to what this countrys education system has given us. From my experience, I understand the challenges of the students in the high need areas. I can be a great asset to their education by being an innovative, comprehensive and motivating teacher. By giving these students solid education, it will be vital in enabling them to realize their full potential in their future.
Friday, March 6, 2020
5 Reasons for Leaving a Job and How to Deal Once You Go Gone are the days when youÃ¢â¬â¢d start your career as an eager young entry-level employee at a company, then flash-forward to your retirement party at the same company, after rising through the ranks (and the various hairstyle and wardrobe changes). It used to be fairly common to commit to a company for the duration of your career, leaving a job only for life changes or unexpected events (getting fired or laid off). These days, the average worker holds ten different jobs before turning 40 years old. Ten! ThatÃ¢â¬â¢s a lot of jobs, and a lot of transition. Now, youÃ¢â¬â¢re not obligated to have that many different jobs, and if you are willing and able to move from intern to manager to CEO at Widget Corp, go for it! For most of us, itÃ¢â¬â¢s not really an option. Economic circumstances change, or thereÃ¢â¬â¢s not enough room for growth. You meet that awesome someone, who just happens to be moving across the country for his or her own job, and wants you to come with.EveryoneÃ ¢â¬â¢s career path is a little different (and thank goodness for that- we canÃ¢â¬â¢t all be web designers or interpretive dance choreographers), so the reasons for leaving are as varied as we are. LetÃ¢â¬â¢s look at some of the most common, valid reasons for leaving your current job, and how to make the transition from one to the next.1.Ã You hate your job/boss/company2.Ã You want better work-life balance3.Ã You never planned to be inÃ itÃ forever4. You donÃ¢â¬â¢t make enough money5.Ã The decision was made for you1. Leaving a job because you hate your job/boss/company.Sometimes relationships just donÃ¢â¬â¢t work out. ItÃ¢â¬â¢s not necessarily anyoneÃ¢â¬â¢s fault (okay, we all secretly know itÃ¢â¬â¢s their fault), but sometimes a job just isnÃ¢â¬â¢t a good fit for you. If you find that your work days are more defined by conflict and unhappiness than by productivity, then yeah, itÃ¢â¬â¢s time to start putting out feelers for a new opportunity.How to de al with this: Your next employer wants to know why you left, and also that youÃ¢â¬â¢re a reliable bet. If you go into an interview talking smack about your previous place of employment, the interviewer will think, Ã¢â¬Å"hmm, is that how heÃ¢â¬â¢s going to talk about us in a year?Ã¢â¬ So when youÃ¢â¬â¢re asked why you left, emphasize that it wasnÃ¢â¬â¢t a good fit. Be specific, but gracious:Ã¢â¬Å"I enjoyed many aspects of my job, and I learned a lot of great leadership skills there, but ultimately I see myself as a manager, and there just wasnÃ¢â¬â¢t enough room for growth there.Ã¢â¬ 2.Leaving a job becauseÃ you want better work-life balance.If youÃ¢â¬â¢re working 80 hours a week, but want to carve out more time for your family and fly-fishing hobby, it may be time to start looking elsewhere. If you talk to your boss and there arenÃ¢â¬â¢t ways to make your position flexible enough for your priorities (work-from-home arrangements, flex time off, different work h ours), then youÃ¢â¬â¢re just going to get more and more frustrated in your current role.How to deal with this: This can be a tricky area in a job interview- potential employers arenÃ¢â¬â¢t allowed to ask you about family status, health problems, or many personal issues. If youÃ¢â¬â¢re looking for a more flexible job because you and your partner want to have a baby soon, you donÃ¢â¬â¢t have to be explicit about the reasons why you might not want to be on call days, nights, and weekends anymore. You can just leave it as a general personal decision:Ã¢â¬Å"I loved my job as the Parks Director, but in the next phase of my career I want to find a position where I can grow while also having a more healthy work-life balance. This company appeals to me because I know youÃ¢â¬â¢re committed to helping employees find that balance.Ã¢â¬ 3. Leaving a job because you never planned to be inÃ itÃ forever.You take a job because youÃ¢â¬â¢re looking for something in the interim, or to pay the bills while you finish school to pursue your dream career as a circus clown. Whatever the case may be, itÃ¢â¬â¢s possible you never intended this job to be your career-defining role. If thatÃ¢â¬â¢s the case, thereÃ¢â¬â¢s an expiration date looming, whether youÃ¢â¬â¢ve set a specific timeline or not. If that end date is approaching, then itÃ¢â¬â¢s time to get out gracefully.How to deal with this: You donÃ¢â¬â¢t want to look like someone who bolts when things get tough, or when a shiny new opportunity comes along. Make sure you emphasize your long-term goals, without saying (in so many words) that you werenÃ¢â¬â¢t interested in the job long-term:Ã¢â¬Å"I saw my last position as a great growth area, where I could improve my skills and get experience, but now itÃ¢â¬â¢s time to move on to my longer term goals, like [X].Ã¢â¬ 4. Leaving a job because you donÃ¢â¬â¢t make enough money.This is a perennial favorite among people who leave jobs for other opportunities . Money is one of the most basic facts of our lives, and if you arenÃ¢â¬â¢t making enough at a certain level, or are clearly being paid beneath what youÃ¢â¬â¢re worth, itÃ¢â¬â¢s not likely that this is an issue that will just resolve itself. If youÃ¢â¬â¢ve already done your research to figure out what your job is worth for someone at your skill level and level of experience, have tried to parlay that into a raise, and have been underwhelmed by your companyÃ¢â¬â¢s response- itÃ¢â¬â¢s valid to use that as your excuse for leaving.How to deal with this: Money issues require every bit of diplomacy at your disposal. To your soon-to-be-former boss/company, itÃ¢â¬â¢s important not to be bratty about the reason youÃ¢â¬â¢re leaving. If youÃ¢â¬â¢ve been asked in an interview for a new job about why you left your last one, bringing up money can be a minefield. It could put you at a disadvantage for later negotiations, or could price you right out of the job offer if they think youÃ¢â¬â¢re expecting six figures and a Ferrari when theyÃ¢â¬â¢re offering five figures and a discounted Zipcar membership. Be firm about your commitment to moving up in the world, but non-specific about the financial aspect of it:Ã¢â¬Å"At this point in my career, IÃ¢â¬â¢m looking for the kind of growth that Former Co. couldnÃ¢â¬â¢t offer in my previous role.Ã¢â¬ Or if youÃ¢â¬â¢re talking to Former Co., be honest: Ã¢â¬Å"Based on my role in the company and my achievements here, I was hoping my compensation could be adjusted accordingly. Since weÃ¢â¬â¢ve discussed this and those resources arenÃ¢â¬â¢t available, itÃ¢â¬â¢s time for me to pursue other opportunities. I really appreciate my time here, but itÃ¢â¬â¢s time for me to move on.Ã¢â¬ 5. Leaving a job because the decision was made for you.Being ushered out the door is a pretty ironclad reason to leave your job. It might not even have gotten to that point yet, but you can read the writing on the wall. If yo uÃ¢â¬â¢re being elbowed out of your job for whatever reason, the spin you put on it is especially important as you look for your next job.How to deal with this: If youÃ¢â¬â¢re dreading the Ã¢â¬Å"why did you leave?Ã¢â¬ question in an upcoming job interview, start working the spin. DonÃ¢â¬â¢t lie, especially if you were fired for a reason that will come up in a background check, or if the interviewer happens to be college roommates with your old boss (itÃ¢â¬â¢s a small world after all, trust me on this). Frame it as a learning experience, and emphasize that youÃ¢â¬â¢ve taken what you could from the situation, and are actively addressing it as part of your future:Ã¢â¬Å"My last position wasnÃ¢â¬â¢t a good fit, and I learned hard lessons about how to approach situations. I made some mistakes in judgment that I strive to overcome every day, and I know that my experience and skills are the stronger for my ongoing efforts.Ã¢â¬ Whatever your reason is for leaving your curr ent job, itÃ¢â¬â¢s so important to make sure that your exit is a classy one. Always keep the tone gracious, no matter how ticked off you may be, or how many grudges youÃ¢â¬â¢re holding about your workload, your treatment, your boss, the terrible coffee in the break room. Be as honest as you can about your reasons for leaving (without making yourself look bad, or letting a snide or angry tone get the best of you), because you likely have genuine feedback that the company can use in recruiting your replacement, or making personnel decisions in the future.Plus, as I mentioned, most industries are very small worlds- you never know who might hear about your exit, or who might know someone who knows someone who used to work with you. ItÃ¢â¬â¢s in your best interest to make sure that your reasons for leaving are clear, backed up with specific information, and let go as water under the bridge as you get ready for your new job offer, or your job search. No bridge is more useful when it Ã¢â¬â¢s burned, so itÃ¢â¬â¢s important for your reputation (and your own sanity) to keep everything clear and professional.
Wednesday, February 19, 2020
Space & time - Essay Example Moreover, it is perhaps because space was not considered in situ that those space-time geometries (which are actually geometries of points of view, made by distance, and light) have burgeoned. And behind these local distortions of points of view, as interesting as they can be, we always find the abstract, traditional separation of concepts which is here proven wrong. (3) There is, as such, a universal simultaneity (with light at a certain point of its travel, incidentally) To validate the proposition of space in situation with its underlying implications must initially require the potential to grasp the traditional understanding of space in an unorthodox presentation where it may be put in a frame of reference capable of projecting or conveying its imperceptible dynamic property. By his findings in the combined queries and discourse of the philosophy of space, Kant states Ã¢â¬Å"Space is not something objective and real, nor a substance; nor an accident, nor a relation; instead, it i s subjective and ideal, and originates from the mindÃ¢â¬â¢s nature in accord with a stable law as a scheme, as it were, for coordinating everything sensed externally.Ã¢â¬ Reason for which the model in place is currently privileged At first sight, it looks surprising to see this identification presence/present being overlooked to this extent: beyond the homonymy, it is difficult to doubt that what is present spatially (what is not absent, what takes place) is actually neither past nor future, and vice versa! However, this obvious point has remained, at best, counterintuitive. Admittedly some people say Ã¢â¬Å"only the present existsÃ¢â¬ , but in the same breath they admit that it is Ã¢â¬Å"uncatchableÃ¢â¬ . And with good reason: they see it only as a temporal limit! The reason for all this is simple, fraught with consequences, yet easy to adjust: The conscience of the past, present and future, i.e. the conscience of duration, of temporality (and beyond that the one of Histor y) makes us inevitably isolate, abstract the concept of time, and in return the one of space! And therefore prevents us from seeing space as it really is: in situation. This is why the separation a priori of the concepts of space and time has, until now, always prevailed. Though time and space are disposed unto each other in forming one whole structure for the purpose of serving perspectives treated in the light of relativity on one hand, and with absolute principle on the other, they seem equivalently disposed to separatist realm. Since their discovery and evolution through concepts, human perception has been trained to detect time in fluid behaviour while space thrives in passivity no matter how it is signified to consist of and encompass conceivable dimensions. Time can be measured and quantified in seconds, minutes, hours, years, and so on so that its trait of definitiveness in this regard is a established scientific fact. Space, similarly, can be made quantifiable in volumetric terms considering the size of what can be occupied yet it appears, nevertheless, time is much more concrete for it is sought to be identified with events in dynamic flow along with all the important characters and figures constituting them. It would strip history off of its essence in being a field of
Tuesday, February 4, 2020
Diversity, legal rights of students - Essay Example Each IEP should be designed for one student and should be an absolutely individualized document. The IEP channels the delivery of special education services and supports for the student with a disability (La Venture, 2003). 3) Evaluations for special education. It should involve more than a single process, be nondiscriminatory, be done in a childÃ¢â¬â¢s primary language, arranged by qualified multidisciplinary team, and tailored to gauge particular areas of need (La Venture, 2003). 4) Federal financial assistance. It will be given to local and state governments that provide full educational opportunities to students with disabilities. Since federal law regulates the rights of education for students with special needs, and due to the additional costs associated with educating these students, federal money is made available to schools based upon the number of students in the special education program. Every student, regardless of cost or disability, should be given by public school districts the right to an education within their schools (La Venture, 2003). 5) Due process procedures. Occasionally school districts and parents argue on how a child with disabilities must be educated. When this occurs, there are measures in place to deal with these conflicts. Parent involvement consists of a) the right to receive notice, b) equal partnership in the decision-making process, c) the right to give approval for particular activities such as changes in placement, assessments, and release of information to others, d) and the right to join in all meetings regarding their childÃ¢â¬â¢s special education (La Venture, 2003). 6) Least Restrictive Environment (LRE) in which to learn. This concept reveals the actÃ¢â¬â¢s solid inclination for educating students with disabilities in general education classes with the access to general education curriculum. Education in the general education classroom is the first placement
Monday, January 27, 2020
The Relationship Between History And Geography Education Essay Whilst geography and history are two discrete subjects within the National Curriculum (1999), Martin (2002) believes that it is possible to identify areas of similarity between them from looking at the importance of history and geography statements. Moreover, she points out that there are links between history and geography through the knowledge and understanding, skills, concepts and values and attitudes and therefore it is possible to incorporate cross-curricular links when teaching the subjects. However, before these links are explored it is important to provide an overview of both subjects in their own right. Cooper et al (2006) state that geography is fundamental to childrens understanding of the world they live in. They highlight that geography allows children to study people and develop a sense of place. Furthermore, they point out that geography fosters childrens appreciation of the environment and helps them to understand why sustainability is important. Similarly, Catling and Willy (2009) suggest that primary geography allows children to develop a curiosity about the world through exploring people and the environment. In the Importance of Geography statement the Department for Education and Employment (DfEE) (1999) emphasise that geography allows children to question the natural and human influences within the world and the statement draws upon the importance of using enquiry skills. The importance of geography as an enquiry subject is evident in the organisation of the geography National Curriculum. The National Curriculum (1999) for geography is divided into two sections; the knowledge, skills and understanding and the breadth of study. The knowledge, skills and understanding children acquire fall into four aspects: geographical enquiry and skills, knowledge and understanding of places, patterns and processes and environmental change and sustainable development. The breadth of study specifies the localities through which children are taught the four aspects The National Curriculum (1999) for history incorporates two areas, knowledge, skills and understanding and breadth of study. The knowledge, skills and understanding identify the key concepts including chronological understanding, historical interpretation and enquiry. O Hara and O Hara (2001) argue that history is an important subject because history is not only about what happened in the past. They state its about why we are who we are and about whats next (p.9) and therefore history contributes to childrens social and cultural development. Moreover, Cooper (2006) emphasises the value of history within the curriculum. She suggests that history is an enquiry based subject that allows children to develop an understanding of the past through interpreting evidence from sources. The skill of enquiry is evident in the importance of history statement where the DfEE (1999) point out that history should encourage children to weigh up evidence to reach conclusions. Rowley and Cooper (2009) highlight the benefits of cross-curricular teaching and integration of subjects. They argue that finding links between history and geography makes learning relevant to children and offers a stimulating way to learn across inter-connected topics. They believe that crossing subject boundaries encourages children to improve their enquiry skills and show initiative. Moreover, Barnes (2007) advocates that teachers can make curriculum expectations meaningful for children through cross-curricular planning. He argues that when subjects are integrated children can apply the knowledge, understanding and skills they acquire in one subject to another. Similarly, the Independent Review of the Primary curriculum carried out by Rose (2009) advocates the importance of cross-curricular teaching to enhance childrens learning. The review states that subjects should be reformed into areas of learning with geography and history coming under the area of historical, geographical an d social understanding. Kimber et al (1995) argue that geography and history should allow children to develop positive attitudes and values of the world they live in. Martin (2002) builds upon this arguing that both subjects encompass common attitudes and values. She believes that these attitudes and values allow children to think about their rights and responsibilities in their immediate environment and the world, whilst developing an awareness of alternative viewpoints. Moreover, she points out that through studying geography and history children develop a respect of different lifestyles and cultures both in the past and at present. Martin (2002) states that the knowledge and understanding of history and geography can be linked because both subjects focus on people in different places, at different times. This is supported by the Qualifications and Curriculum Authority (2000) who found that the knowledge and understanding acquired in geography can be used in history. Whilst on school experience I was able to use the topic of ancient Egypt to develop childrens knowledge and understanding in both history and geography. Although ancient Egypt is an option under the world history study in the history National Curriculum (1999), I integrated geographical elements by looking at the River Nile. This is because the River Nile has a deeply geographical focus within a historical context. This enabled the children to consider the connections between rivers, farming and industry whilst looking at the significance of the River Nile in providing food and trade for Egyptians. On this occasion the geographical understanding abo ut rivers helped children to understand Egyptian history. Hoodless (2009) argues that there is a similarity between the skills children are expected to acquire in history and geography. This is further emphasised by Catling (2006) who points out that both subjects incorporate enquiry skills where children have the opportunity to ask questions, observe, record information and interpret evidence. These enquiry skills are reflected in the National Curriculum (1999) for history (historical enquiry 4.a, 4.b) and for geography (geographical enquiry and skills 1.a-1.e). Fraser and Donert (1996) and Hoodless (2009) argue that one way enquiry skills can be developed in the subjects is through examining a local area from a historical and geographical perspective. Moreover, Foley and Kanikoun (1996) suggest that a starting point for a local area enquiry study is to introduce key questions that children will find out the answer to. These enquiry questions include what is the place like? (p.11) which demonstrates a geographical focus for the enquiry and what was the place like in the past? (p.11) which emphasises the historical focus for the enquiry. Catling (2006) argues that in order for children to improve their knowledge of what a local area is currently like and what it was like in the past, they should collect evidence through field work, photographs and maps. He highlights that through an enquiry children will have ideas about why an area develops and how it has come to be like it is (p.14). Although I have not had the opportunity to use a local ar ea enquiry study in school, the humanities local area enquiry project gave me an in-depth understanding of how to plan a unit of work where children can see how the past has impacted on a present locality. Through exploring a range of primary and secondary sources and carrying out field work within my own enquiry I looked at the area from a geographical and historical perspective. Turner-Bisset (2005) suggests that a good way to engage in a local area study is by using historical maps. This idea is evident in a sample cross-curricular history and geography local area unit by Hoodless (2009). He suggests historical maps can be used to find out what the area was like at a particular time in the past. This lesson incorporates the geographical skill of interpreting maps (geographical enquiry and skills 2.c) as well as the historical skill of interpreting sources (historical interpretation 3 and historical enquiry 4.b) and therefore the link between skills in both subjects is evident. However, maps do not only provide a link between historical and geographical skills, Disney and Hammond (2002) argue that maps can highlight links between the concepts in both subjects. When considering the change of a local area they suggest that teachers should use new and historical maps which illustrate similarities and differences in a local area. For example they explain that a map which shows an area before the introduction of the railway and a map that shows the area after the introduction of the railway supports childrens development of the concept of change. They argue that this is because children can see for themselves the significant changes that have occurred in the area. On school experience I was able to develop the childrens concept of change within a cross-curricular geography and history lesson. However, instead of maps I used a range of photographs of the city of London from Victorian Britain until today. This enabled the children to use their interpretation skill s to decide how London has changed and how it is still changing. Martin (2002) further highlights that history and geography can be linked through the concepts of each subject. She points out that there are overlaps through the key concepts of change, chronology and similarity and difference. It is evident in the National Curriculum (1999) that the concept of change appears in both geography and history. In the National Curriculum (1999) for geography children are required to recognise how and why places change (knowledge and understanding of places 3.e) and in history children consider changes within and across different periods studied (knowledge and understanding events, people and changes in the past 2.d). However, whilst the over arching concept of change can take different forms in the two subjects, Hoodless (2009) argues that the concept of change can also be developed in a geographical and historical perspective through exploring the changes in a local area, discussed previously. It is important to highlight how the links between both subjects can impact on the whole school curriculum. Owen and Ryan (2001) argue that a school must produce long term plans that meet the statutory requirements of the National Curriculum (2000). This is further emphasised by the Nuffield Association (2009) who highlight that long term plans allow the school to map out the curriculum. Despite a schools long term plans, Knight (1993) states that an integrated curriculum will only be of value if it is based upon a whole school approach. He argues that a long term commitment to effective integration requires collaboration and agreement amongst a schools staff and shared ways of working (p.125). From looking at the long term planning in school it was clear to see that the cross-curricular links between history and geography were clearly planned. Although the management were wholly responsible for the plans, both the history and geography co-ordinators input was required to ensure that the links between subjects were evident and not left to happen by chance within a lesson. The whole school approach to cross-curricular learning outlined in the long term plans ensured consistency and progression in terms of knowledge, understanding and skills within history and geography. Moreover, the whole school integrated curriculum meant that the teachers did not feel pressured to teach every subject discretely thus freeing up the timetable, an issue acknowledged by Rose (2009). There are also implications for the teacher making links between the subjects and it will be important to consider these implications in my own teaching. Knight (1993) states that cross-curricular learning in history and geography depends on realistic integration (p.125) and he states that teacher must be secure in their own subject knowledge of both subjects to recognise real links. Moreover, Turner-Bisset (2000) and The Nuffield Foundation (2009) warn that cross-curricular learning is unsuccessful when links between subjects are forced or tenuous links are made. Turner-Bisset (2000) suggests that teachers should choose areas where the links are natural and not contrived because without these genuine links it is not possible for teachers to measure childrens progress of learning in either subject. Over my three school experiences I have seen strong examples of cross-curricular geography and history teaching such as integrating the impact of the water supply into Victorian Britain. However, Rowley and Cooper (2009) argue that cross-curricular planning raises issues for teachers because the links between subjects are based solely on their perceptions, there is no guarantee the connections between subjects will be made explicit to the children, nor will the connections make sense to the children. In order for children to understand their learning across subjects, Hoodless (2009) highlights that clear objectives are needed for both subjects and these objectives should be included in short term plans. Whilst on school experience it became apparent to me the lack of resources available to support integrated history and geography lessons. When planning a unit around Victorian London, I was required to produce my own resources. This involved visiting the archives at the Museum of London to collect photographs of the city of London in the Victorian era, as well as taking a trip into the central London to take photographs of the city. Although these resources were a beneficial aid to support childrens learning, a great deal of time was spent collecting and putting the resources together. Knight (1993) acknowledges the lack of good quality resources to enable successful integration. He argues that this puts a burden upon teachers to produce resources.
Saturday, January 18, 2020
FACTORING Ã¢â¬â PROBLEMS & SOLUTIONS 1. [pic] [pic] 2. A company is considering engaging a factor, the following information is available: i) The current average collection period for the CompanyÃ¢â¬â¢s debtors is 80 days and ? % of debtors default. The factor has agreed o pay money due after 60 days and will take the responsibility of any loss on account of bad debts. ii) The annual charge for the factoring is 2% of turnover payable annually in arrears. Administration cost saving is likely to be Rs. 1,00,000 per annum. iii) Annual sales, all on credit, are Rs. ,00,00,000. Variable cost is 80% of sales price. The CompanyÃ¢â¬â¢s cost of borrowing is 15% per annum. Assume the year is consisting of 365 days. Should the Company enter into a factoring agreement? [pic] 3. MSN Ltd. has total sales of Rs. 4. 50 crores and its average collection period is 120 days. The past experience indicates that bad debt losses are 2 percent on sales. The expenditure incurred by the company in admi nistering its receivable collection efforts are Rs. 6,00,000. A Factor is prepared to buy the companyÃ¢â¬â¢s receivables by charging 2 percent commission. The factor will pay advance on receivables to the company at an interest rate of 18 percent per annum after withholding 10 percent as reserve. You are required to calculate effective cost of factoring to the company. [pic] [pic] 4. The turnover of PQR Ltd. is Rs. 120 lakhs of which 75 per cent is on credit. The variable cost ratio is 80 per cent. The credit terms are 2/10, net 30. On the current level of sales, the bad debts are 1 per cent. The company spends Rs. 1,20,000 per annum on administering its credit sales. The cost includes salaries of staff who handle credit checking, collection etc. These are avoidable costs. The past experience indicates that 60 per cent of the customers avail of the cash discount, the remaining customers pay on an average 60 days after the date of sale. The Book debts (receivable) of the company are presently being financed in the ratio of 1 : 1 by a mix of bank borrowings and owned funds which cost per annum 15 per cent and 14 per cent respectively. A factoring firm has offered to buy the firmÃ¢â¬â¢s receivables. The main elements of such deal structured by the factor are: (i) Factor reserve, 12 per cent (ii) Guaranteed payment, 25 days (iii) Interest charges, 15 per cent, and (iv) Commission 4 per cent of the value of receivables. Assume 360 days in a year. What advise would you give to PQR Ltd. Ã¢â¬â whether to continue with the in house management of receivables or accept the factoring firmÃ¢â¬â¢s offer? [pic][pic] 5. A firm has a total sales of Rs. 12,00,000 and its average collection period is 90 days. The past experience indicates that bad debt losses are 1. 5% on sales. The expenditure incurred by the firm in administering receivable collection efforts are Rs. 50,000. A factor is prepared to buy the firmÃ¢â¬â¢s receivables by charging 2% commission. The factor will pay advance on receivables to the firm at an interest rate of 16% p. a. after withholding 10% as reserve. Calculate effective cost of factoring to the firm. Assume 360 days in a year. [pic][pic] 6. The credit sales and receivables of M/s M Ltd. at the end of the year are estimated at Rs. 3,74,00,000 and Rs. 46,00,000 respectively. The average variable overdraft interest rate is 5%. M Ltd. is considering a proposal for factoring its debts on a non-recourse basis at an annual fee of 3% on credit sales. As a result, M Ltd. will save Rs. 1,00,000 per year in administrative cost and Rs. 3,50,000 as bad debts. The factor will maintain a receivables collection period of 30 days and advance 80% of the face value thereof at an annual interest rate of 7%. Evaluate the viability of the proposal. Note: 365 days are to be taken in a year for the purpose of calculation of receivables[pic][pic] 7. Junio Limited is a small manufacturing company which is suffering cash flow problems. The company already utilizes its maximum overdraft facility. Junio Limited sells an average of Rs. 4,00,000 of goods per month at invoice value, and customers are allowed 40 days to pay from the date of invoice. Two possible solutions to the companyÃ¢â¬â¢s cash flow problems have been suggested. They are as follows: Ã¢â¬ ¢ Option 1: Junio Limited would factor its trade debts. A factor has been found who would advance Junio LimitedÃ¢â¬â¢s 75 percent of the value of the invoices immediately on receipt of the invoices, at an interest rate of 10 percent per annum. The factor would also charge a service fee amounting to 2 percent of the total invoices. As a result of using the factor, Junio Limited would save administration costs estimated at Rs. 5,000 per month. Ã¢â¬ ¢ Option 2: The company could offer a cash discount to customers for prompt payment. It has been suggested that customers could be offered a 2% discount for payments made within ten days of invoicing. You are required to: (a) Discuss the issues that should be considered by management when a policy for credit control is formulated. (b) Identify the services that may be provided by factoring organizations. (c) Calculate the annual net cost (in Rs. ) of the proposed factoring agreement. (d) Compute the annualized cost (in percentage terms) of offering a cash discount to customers. (e) Discuss the merits and demerits of the two proposals. (a) Policy for Credit Control for Junio Limited (a) When a policy is being formulated, management should consider the following issues: i) The average period of credit to be given. Whether this should be longer than average to encourage sales or less than average, to speed up sales. (ii) Policy for making decisions on granting credit to individual customers: Ã¢â¬ ¢ How customers are to be investigated for creditworthiness? (e. g. by direct assessment by the company, or indirect assessment using credit references from banks, or other assessment agenc ies) Ã¢â¬ ¢ How the amount and timing of credit is to be decided? (e. g. whether credit is to be increased progressively). (iii) Debt collection policies: Whether to employ specific people for this work. Issue of debtorsÃ¢â¬â¢ statements, reminder letters, whether and when to make use of professional debt collectors and when to consider legal action. (iv) Accounting reports required: Aged debtors lists etc. (v) Polices on persuading debtors to pay promptly: Discount schemes. (vi) Whether to make use of factoring services. For all the above, it will be necessary to consider the costs and benefits of the alternative course of action. This will include considerations on how credit is to be financed. (b) A factor normally manages the debts owed to a client on the clientÃ¢â¬â¢s behalf. Services Provided by Factoring Organisations i) Administration of the clientÃ¢â¬â¢s invoicing, sales accounting and debt collection service. (ii) Credit protection for the clientÃ¢â¬â¢s debts, whereby the factor takes over the risk of loss from bad debts and so Ã¢â¬ËinsuresÃ¢â¬â¢ the client against such losses. The factor may purchase these debts Ã¢â¬Ëwithout recourseÃ¢â¬â¢ to the client, wh ich means that if the clientÃ¢â¬â¢s debtors do not pay what they owe, the factor will not ask for the money back from the client. (iii) Ã¢â¬ËFactor financeÃ¢â¬â¢ may be provided, the factor advancing cash to the client against outstanding debts. The factor may advance up to 85 percent of approved debts from the date of invoice. iv) A confidentiality agreement may be offered to conceal the existence of the arrangement from customers. (c) Calculation of Annual Cost of Factoring It is assumed that the factor finance will not replace any existing credit lines, and therefore, the full interest cost of the agreement will be relevant when determining the cost of factoring. Annual Sales = Rs. 4,00,000 ? 12 = Rs. 48,00,000 Daily Sales = Rs. 48,00,000/365 = Rs. 13,151 The annual cost of factoring can now be found: [pic] [pic] (e) Key Issues in the Discounting Option (i) The proposal is expensive. The company should be able to get cheaper overdraft finance than this, and longer-term debt should cost even less. (ii) The company may need to offer a discount in order to make its terms competitive with other firms in the industry. (i) The level of take-up among customers is uncertain, and will affect the cash flow position. (ii) Problems may arise when customers take both the discount and the full forty day credit period. This will increase administrative costs in seeking repayment. Key Issues in the Factoring Option (i) The factor may be able to exercise better credit control than is possible in a small company. ii) The amount of finance that will be received is much more certain than for the discounting option as 75 percent of the value of the invoices will be provided immediately. (iii) The relationship with the customers may deteriorate partly due to the reduction in the level of contract with the company, and partly due to the historical view of the factor as the lender of la st resort. Thus, the final decision must take into consideration all the above issues. However, the most important points to consider are the ability of each proposal to meet the financing requirements, and the relative costs of the different sources of finance.
Friday, January 10, 2020
My paper is on Anne Frank remembered. A little about Anne Frank she is one of the most discussed Jewish victims of the Holocaust. Her diaries are very famous for many reason one that it tells about life during the holocaust and how she was able to survive as a little girl. Her diaries are a look at the holocaust it is an aspiration for many. As I watched the film I could feel the struggles that Anne Frank was going through and I find her courage during the times to be uplifting the more that I watched the documentary the more that I feel like I was there with her feeling her pain and just in all her courage. Anne Frank was the hope of all the people during that time and holocaust. The documentary explained how the Germans had occupied Holland and how some of the people in Holland was hidden away in some of the houses of friends and allies. One of the people that was hidden away in opekta was Anne frank and her family it mentioned that Anne frank was called upstairs because people wanted to hide in the house and asked her what she thought. Anne Frank was offered a job by the boss of the house of cooking she was asked if she was able to cook a certain dish and she had said yes and so she was giving the job of cooking for the house. She was giving more jobs and responsibilities in the house and was trusted by her boss.