Friday, January 31, 2020
The financial feasibility of a capital expenditure. Pevensey Plc Essay
The financial feasibility of a capital expenditure. Pevensey Plc - Essay Example The head of the production department has approved all the short listed machines and now the decision rests with the financial control unit in order to evaluate the financial feasibility of the purchasing decision. Future cash flows have been forecasted and are presented as net cash inflows. The cash outflows comprises of expected repair and maintenance expenditure over the useful life of the asset. Whereas, the cash inflows includes the expected total revenue generated by the machines in the form of sale of the products manufactured by the machine. All the projected cash flows include the impact of expected inflation. The capital expenditure pertaining to the purchase of machine has been decided to be funded through internally generated funds. Therefore, keeping into consideration the limited amount of the funds, the directors of the company must make prudent investment decision so to achieve the most lucrative and appropriate results. The method used in the investment appraisal is determining the Net Present Value (NPV) of each proposal. According to this method, the future expected cash flow, over the time span of the project, are discounted based on the expected discount rate in the economy. As per the treasury department of the company, the cost of capital of the company is 9%, which is used as the discount rate in calculating the NPV of each project. The expected cash flow from each year is multiplied by the discount factor to arrive at the present value at year 0 i.e. at the time of making of the capital expenditure. An investment whose NPV is positive is considered to be a rewarding one, whereas an entity does not venture on an investment where the NPV of the cumulative cash flows is negative. Where the management has to rank the investments, with the objective of giving priority to the most rewarding ones, the investment with the highest NPV must be ranked first. Calculating Internal Rate of Return (IRR) is another method extensively used in the investment appraisals. IRR is a rate where the cost of investment, cash outflow, is equal to the cash inflows. The proposal with the highest IRR is considered to be the most rewarding one. Payback period is another method utilized in investment appraisal which calculates the time taken by the investment to generate enough cash inflows to recover the initial cost of the investment. Investment appraisal through NPV method and IRR method are both very useful in order to financially attractive prospective of any investment decision. A good financial analysis is based on the trade off between these two methods. However, practically the IRR method is used widely in investment appraisal decision. The prime reason behind selecting the IRR method of appraisal is it is comparatively straight forward and can be used without having a prior experience in capital budgeting. NPV method has certain drawbacks and limitations. Different projects must be assesse d at different discount rates because the risk for each project is generally different. The reliability of the NPV based investment appraisal can be as reliable as the discount rate itself. However, in practice, it is very unrealistic to determine different discount rate for different investment proposals. Whereas, IRR uses a single discount rate to evaluate every investment, due to which it is used extensively among the financial analysts. With certain disadvantages, the NPV method comes with several attributes which makes it superior to the IRR method. IRR method of appraisal is for evaluating the financial result of an investment over a short period of time. Moreover, IRR is also ineffective for investments proposals which are a mixture of positive and negative cash flow. For these
Thursday, January 23, 2020
Censorship Should NOT be Placed on Books Essay -- Censorship Censors
Censorship Should NOT be Placed on Books      "Censorship... a system under which official censors must give permission before communications of a specified type can lawfully be made" (Wilgoren, 1). Recently censorship has become a major problem in our society. Censorship should not be banned on books. People should not be told they cannot read a book. Unfortunately history has shown that words can be used for ill as well as for good, to destroy lives as well as to enhance them? (Steffens, 9) Words and reading them gives us a better understanding of other peoples views. Censorship should not be placed on books.      Every person can find a particular section in a book that they do not agree is appropriate. ?Many local censorship incidents still consist of one parent complaining about one book? (Fege, 10). ?In Colorado kids were eager to hear the fascinating tales of Harry Potter. That all stopped when people thought the book was evil and thought that it did not belong in the schools.? (1) How can people take a book that a child enjoys based on their views? In schools some kids may or may not have read the book Huckleberry Finn. ?Huckleberry Finn is not only one of the best books ever written in this country but it?s also the most influential? (West, 43). Reading books gives people a sense of what history is all about. ?If black kids are never taught Huckleberry Finn they are put at a real disadvantage if they ever go on to study literature at the college level? (43). ?You can get all hyped up about the fact that the word ?nigger? appears in the book over two hundred times, but that was what black Americans were called in the 1840?s, which when the book takes place? (43). Some people might take the word nigger in an unfashionable way. It was never meant to do any harm. ?Even though Huck calls Jim ?nigger,? he treats him like a friend? (43). Slaves were known as niggers at that point of history. ?Black kids need to know the history behind the word so that when they hear it on the playground they know where it comes from? (43). ?They (parents) might not want their own children to declare their own independence in the way that Huck does at the end of the book, and perhaps this is one of the reasons why they don?t want the book taught in the schools? (44). One alternative from the banning of any book is to provide a different bo... ...1991:10-12. Lueker, Donna Harrington. ?Book Battles.? American School      Board Journal Feb. 1991: 18+ Ockerbloom, John Mark. The on-line Books Page Presents      Banned Books On-Line. 13. Oct. 2000.      http://digital.library.upenn.edu/books/banned-books.html. Sipe, Rebecca Bowers. ?Don?t Confront Censors, Prepare for      Them.? Education Digest Feb. 1996: 42-46. Steffens, Bradley. Censorship. San Diego: Lucent Books, 1996. West, Mark I. ?Some Thoughts on Censorship and the Teaching      of Huckleberry Finn.? Multi-Cultural Review December. 1996: 42-44. Wilgoren, Jodi. ?Don?t Give Us Little Wizards, The      Anti-Potter Parents Cry.? New York Times 1 Nov. 1999:1. Thesis: Censorshipe should not be placed on books. I. Unfairness      A. Listening           1. Parents Views           2. Kids Views           3. Teachers Views      B. Freedom of Learning           1. Expressing Views           2. Trust II. Choice          A. Kids and Parents      B. People               1. School Boards           2. Government Officials           3. Censors III. Constitutional Rights      A. What it states      B. How we can change Censorship by an alternative
Wednesday, January 15, 2020
Oedipus Innocent Essay
In Sophocles’ tragedy, Oedipus relentlessly pursues the truth of his own ancestry and actions in the past, making this play a tragedy of action in which, in the end, the king goes into exile, believing that he has killed his own father and had incest with his own mother. While this latter conclusion is not debatable, it is questionable whether or not Oedipus killed his father, and he could be innocent. All the proof is that he killed his father is from the seer and prophet Tiresias. his fears and suspicions and discover the truth, which is his fate, he is doomed in doing so. â€Å"To his mother son and husband both, he sowed the loins his father sowed, he spilled his father’s blood! Go in and reflect on that, solve that, and if you feel I’ve lied from this day onward call the prophet blind†(Sophocles). All Oedipus knows is that he killed a man at a crossroads: there was no direct communication between them, and no recognition. One would think that Oedipus, however metaphorically blind he may be at this point, still has eyes enough to recognize his own father. His own obsessive seeking of the truth could also contribute to the fallacious assumption that Oedipus makes, without proof, that he has indeed killed his own father. In pursuing the answers to his own tragedy obsessively, Oedipus becomes a sympathetic figure who is blind to the possible truth, and accepts that he has killed his father without having overwhelming proof. There is still a reasonable doubt that the person at the crossroads could have been a complete stranger. But Oedipus’ will demands that he use his essential nature to fight against destiny, and this makes him somewhat blind to the facts. There is no proof beyond the shadow of a doubt that Oedipus has really killed his own father. It is simply what Oedipus believes. Sophocles (2005). Oedipus the King. Norton Anthology of Literature. New York: Norton.
Tuesday, January 7, 2020
Project Management An Organization - 1636 Words
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