The French And Indian War - 1731 Words

The American Revolution was fought from 1775-1783, the war happened because of the tension that was building between Great Britain and their thirteen colonies. From 1607 to 1763, Britain gave the thirteen colonies benign and salutary neglect. Even though the colonists lived under the Mercantilist doctrine, they were still allowed to prosper while under Great Britain’s authority. The French and Indian war changed their relationship.Great Britain going to war with France caused them to accumulate a lot of debt. They thought heavily taxing the colonists would help them pay off their debt. The colonists were unaware of the taxing until Great Britain started taxing them on tea, which they drank daily. This caused their taxing plan to backfire. Great Britain s relationship with the colonies developed into an armed conflict that caused the colonists to declare their independence in 1776. â€Å"The first shots heard around the world† of the Revolutionary War were supposedly hea rd at Lexington and Concord. France entered the American Revolution on the side of the colonists, the French were persuaded by Thomas Jefferson and Benjamin Franklin in 1778. France helped the Continental Army to get the British to surrender at Yorktown in 1781 causing the Americans to win their independence; the fighting didn’t officially end until 1783. Revolutionary War was started and fought over economic, social, and political issues. Britain s Mercantilist system was used to control economicShow MoreRelatedThe French And Indian War1095 Words   |  5 PagesThe French and India war was a war that took place in today’s Pittsburgh. The war was both caused by the English and French. The English and the French both felt that they were entitled to land and each was to willing to fight and they were also, willing to go into war so they could prove that they owned the land. (odellreads.com) The French and India war started out as a dispute over land in the Ohio River Valley area, both the French and English settlers moved towards colonization of that areaRead MoreThe French And Indian War1195 Words   |  5 PagesSince the beginning of history, wars have been fought to gain territories, independence, or to fight against those who take away one’s rights. The French and Indian War was fought in North America over the Ohio Valley, however, it is much more than just a war to gain territory. This war opened doors to the colonists who decided that fighting for independence was something they were in need of doing. The French and Indian War was the portion of the Seven Year’s War that was fought in North AmericaRead MoreThe French And Indian War967 Words   |  4 Pages 2014 During the French and Indian War of 1754-1763, the French and the British were competing for land throughout the Ohio Valley, the Mississippi River, and the St. Lawrence River and for trading rights in North America. Both nations saw this territory as a necessity to increase its own power and wealth while simultaneously limiting the strength of its rival. Although, after the French and Indian War the British gained all of the French land in North America. Following the war the British governmentRead MoreThe French And Indian War877 Words   |  4 Pageshistory; wars, such as the French and Indian war altered the perception of the American people. These events and people were some of the many that facilitated the colonists’ defiance against the British. Altercations they encountered turned the people of the newly formed Americas against the British aiding in their quest for independence. During the time of 1763-1775, one of the occurrences that happened to affect the colonists’ perception of the British was the French and Indian War. The war itselfRead MoreThe French And Indian War895 Words   |  4 PagesMany wars were fought between the English and the French. The French and Indian War was an important factor in the writing of the Declaration of Independence. The war was very costly for the British. After the war ended the British thought of ways to gain money from the colonists to help replenish funds lost from the war. This usually was in the form of taxes. The colonists were not happy with the British government and made their feelings and opinions known. The colonists wanted their freedom andRead MoreThe French And Indian War938 Words   |  4 PagesThe French and Indian War was a long and bloody war fought by both colonial and British soldiers. By the end of the war, both Britain and the colonies were changed, and so their relationships were changed a s well - mostly in negative ways. After the war, political, ideological and economic relations between the colonies and Britain would never be the same. Many colonists realizing their lack of representation in Parliament, which created political tension; British taxation of the colonies createdRead MoreThe French And Indian War1556 Words   |  7 Pages The French and Indian War/Seven Years War began in response to the British unapologetically impinging on the French and the Indian territory. After the seven years of war, the French and British negotiated the Treaty of Paris. The Treaty of Paris effectively ended the French and Indian War/the Seven Years War. It was put into practice in 1763. The immediate results included the French loss of all territory in the Americas except some islands in the Gulf, the Spanish receiving all land west of theRead MoreThe French And Indian War1337 Words   |  6 Pagesbeen many wars, some wars were fought for world domination and others were fought for independence. One war that fought for independence was the American Revolution. The American Revolution was fought between the colonists and the English with the French aiding the colonists. There are many causes for the American Revolution some of the causes are the French and Indian War, The Sugar and Stamp Act, The Boston Massacre, The Boston Te a Party, and the Intolerable Acts. The French and Indian War, also calledRead MoreThe French And Indian War1310 Words   |  6 Pagescommencement of the revolution. The discussion below critically exploits and explores various reasons that led to the start of the revolution. The French and Indian War The wars which happened between 1754 and 1763 had a high impact on the colonies that were initially proud to be part and parcel of Great Britain. However, as it was noted later after the war, most colonists got increasingly bothered by various Acts passed by the Britain Parliament such as the Currency Acts that were made between 1751Read MoreThe French And Indian War1183 Words   |  5 Pages1773 Britain defeated France in the French and Indian war.The colonists had secretly been bringing in tea into the area from dutch, the tea was cheaper and not taxed, this helped many families in America. It caused parliament to be short of money. In effort to replenish. Victory in the french and indian war was costly for the british. At war’s conclusion in 1763, king George 111 and his government looked to taxing the American colonies as a way of recouping their war cost, they thought that people want

Equality Between Men And Women - 1263 Words

When it comes to making a difference in the status of women, a feminist would never place faith on the Centre of Political power to bring about this change. This is for the simple logical reason that a politics is the embodiment of patriarchy. Among all superstructures of the society starting from family, the community, religion, the Rulers represent the highest form of discrimination. Hence an institution which is to work towards the emancipation of women has to be free from political influence without which it is toothless and only ornamental. When the demand for a Commission dedicated to the task of working towards the issues of women arose, it was always intended to an autonomous. The CSWI report endorsed the recommendation given by†¦show more content†¦It may also be seen as a core and periphery structure where the political power dissipates from the core and women have been pushed to the periphery who are the last ones to receive the benefits of the its actions. Hence the Commission puts women as the ends of welfare and not the means. Women become the targets and not the participants in the decision making. A simple perusal of the National Commission for Women Act tells us that the NCW is not an autonomous body. The chairperson and members of the Commission are nominated by the Central Government. The Act is silent on the procedure of appointment. One would have expected that the appointment procedure would if not wholly independent of political influence, to be atleast be similar to appointment procedure of the NHRC chairperson and members. None of the governments have accepted the repeated demand of women’s groups that the selection of Chairperson and members should be from a panel prepared in consultation with women’s groups. Even the NCW itself made a subtle recommendation in amendment of the provision of S3(1) of the 1990 Act by inserting after the words ‘the Central Government’ the words ‘in consultation with the Chairperson,’ , but even this concession could not be accepted by the governments. With such an appointment procedure, political considerations are bound to seep in. it has been time after time seen that NCW Chairpersons change with change in the Government and their loyalties, not

Blackrock free essay sample

The Portfolio Analytics Group or (PAG) within Blackrock Solutions utilises Blackrock’s proprietary analytics tools and models, such as the Green Package reporting suite, to measure risk on both a security and portfolio level. This area immediately attracts me as this is exactly the roles and responsibilities that i am looking for with regards to an internship Summer Internship with yourselves. The PAG Analyst role is central in supporting Blackrock’s investment process, producing reports and analytics utilised by all areas of the firm, giving rise to a unique opportunity to see how all functional areas operate and link together. The role is also central in supporting BlackRock Solutions external clients across their investment process and risk management oversight. Therefore this does not only fulfil and provide insight into all the areas that i am so very interested and intrigued by, but also gives a much broader perspective to the wider functions of BlackRock. We will write a custom essay sample on Blackrock or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page BlackRock is widely recognized for its disciplined investment process and rigorous risk management. Since its inception, we have focused on the assessment of security and portfolio-level risks for investment decision making as well as for efficient transaction execution. As a result, BlackRock developed an integrated suite of investment management tools that provide solutions to these many varied facets of the business model. All these points help to culminate together in understanding what attracts me personally to an internship with an industry leader such as yourselves. The way you operate as a firm, your corporate culture and identity, plus your track record and that fact that you are so highly regarded within your respective industry fields, all help to see why exactly i am attracted to an internship opportunity at BlackRock, a firm that truly encapsulates everything i am looking for with regards to my future and further professional learning, development, and career prospects.

Finance for Business Operated Repairing Household Works

Question: Discuss about the Finance for Business for Operated Repairing Household Works. Answer: A. Emu electronics is the electronic manufacturer previously operated repairing household works. Currently the business is expanded and now known to be a manufacturer of the speciality electronic items. The company is prime seller of smart phone. For the emerging demand of the variety of features of smart phones, Emu electronics spent more into the research and developmental works for upgrading the system and deliver more modified version to their customers. Based on the case scenario and the information, this report has addressed several questions in the first section of the assignment. The calculation of NPV, payback period, profitability index has been done in the below mentioned table: Year Sales (Unit) Unit price ($) Total sales ($) 1 64000 485 31040000 2 106000 485 51410000 3 87000 485 42195000 4 78000 485 37830000 5 54000 485 26190000 Table 1: Total sales calculation (Source: Created by author) Calculation of Depreciation Value($) Cost of Manufacturing Equipments 34500000 Depreciated over the 7 years life (Straight Line Method) 4928571.429 Table 2: Per year depreciation calculation (Source: Created by author) Calculation of Net cash Flow Year 1 Year 2 Year 3 Year 4 Year 5 Net Sales 31040000 51410000 42195000 37830000 26190000 Fixed Costs -5100000 -5100000 -5100000 -5100000 -5100000 Variable Costs -13120000 -21730000 -17835000 -15990000 -11070000 Total costs -18220000 -26830000 -22935000 -21090000 -16170000 Profit 12820000 24580000 19260000 16740000 10020000 Less: Depreciation -4928571 -4928571 -4928571 -4928571 -4928571 EBIT 7891429 19651429 14331429 11811429 5091429 Corporate Tax@30% 2367428.7 5895428.7 4299428.7 3543428.7 1527428.7 EAT 5524000 13756000 10032000 8268000 3564000 Total cash flow (EAT+Dep) 10452571 18684571 14960571 13196571 8492571 Table 3: Calculation of Net cash flow (Source: Created by author) Calculation of Net working capital 6208000 10282000 8439000 7566000 5238000 Changes in Working capital 4074000 -1843000 -873000 -2328000 Table 4: changes in working capital over the years (Source: Created by author) Year Cash Flow Changes in NWC Cumulative cash flow Discounted factor (@12%) Discounted Cash flow 0 -35450000 0 -35450000 1 10452571 10452571 -24997429 0.892857143 9332652.946 2 18684571 -4074000 14610571 -10386857 0.797193878 11647457.99 3 14960571 1843000 16803571 6416714 0.711780248 11960450.14 4 13196571 873000 14069571 20486285 0.635518078 8941466.917 5 8492571 2328000 10820571 31306857 0.567426856 6139882.75 48021910.74 Payback period 2.61813392 IRR 25% Profitability index 1.354637821 NPV 12571910.74 Table 5: Calculation of NPV (Source: Created by author) Assessment of sensitivity in accordance NPV to changes in price It has been assumed that the price of the smart phone has been reduced by 10 % Year Sales (Unit) Unit price ($) Total sales ($) 1 64000 436.5 27936000 2 106000 436.5 46269000 3 87000 436.5 37975500 4 78000 436.5 34047000 5 54000 436.5 23571000 Table 6 : Revised sales figure after price change (Source: Created by author) Calculation of Net cash Flow Year 1 Year 2 Year 3 Year 4 Year 5 Net Sales 27936000 46269000 37975500 34047000 23571000 Fixed Costs -5100000 -5100000 -5100000 -5100000 -5100000 Variable Costs -13120000 -21730000 -17835000 -15990000 -11070000 Total costs -18220000 -26830000 -22935000 -21090000 -16170000 Profit 9716000 19439000 15040500 12957000 7401000 Less: Depreciation -4928571 -4928571 -4928571 -4928571 -4928571 EBIT 4787429 14510429 10111929 8028429 2472429 Corporate Tax@30% 1436228.7 4353128.7 3033578.7 2408528.7 741728.7 EAT 3351200 10157300 7078350 5619900 1730700 Total cash flow (EAT+Dep) 8279771 15085871 12006921 10548471 6659271 Calculation of Net working capital 5587200 9253800 7595100 6809400 4714200 Changes in Working capital 3666600 -1658700 -785700 -2095200 Table: Revised working capital change (Source: Created by author) Year Cash Flow Changes in NWC Cumulative cash flow Discounted factor (@12%) Discounted Cash flow 0 -35450000 -35450000 1 8279771 8279771 -27170228.7 0.892857143 7392653 2 15085871 -3666600 11419271 -15750957 0.797193878 9103373 3 12006921 1658700 13665621 -2085336 0.711780248 9726919 4 10548471 785700 11334171 9248835 0.635518078 7203071 5 6659271 2095200 8754471 18003307 0.567426856 4967522 38393538 Payback period 3 IRR 15% Profitability Index 1.083033521 NPV 2943538.316 Table 7: Changed NPV calculation considering the Price fluctuation (Source: created by author) In the above scenario, the NPV is calculated assuming the 10% reduction in price of the products of the Emu Electronics. In that case, per unit selling price has been changed to $485 to $436.5. Here the NPV is reduced from $12571910.74 to $2943538.316. This is quite evident that the price is highly sensitive. These changes also affect on the profitability index of the business. According to Galvez, Ordieres-Mer and Capuz-Rizo (2015), the sensitivity helps to make understand the overall changes to the assessment of the profitability of the business. In this case scenario, the price reduction has been considered and calculation has been done based on 10 percent price reduction consideration. Assess sensitivity in accordance NPV to changes in sales It has been assumed that the sales of the smart phone has been reduced by 16 % Year Sales (Unit) Unit price ($) Total sales ($) 1 53760 485 26073600 2 89040 485 43184400 3 73080 485 35443800 4 65520 485 31777200 5 45360 485 21999600 Table : Calculation of sales considering the sales reduction (Source: created by author) Calculation of Net working capital 5214720 8636880 7088760 6355440 4399920 Changes in Working capital 3422160 -1548120 -733320 -1955520 Table 8 : Changes in working capital (Source: Created by author) Year Cash Flow Changes in NWC Cumulative cash flow Discounted factor (@12%) Discounted Cash flow 0 -35450000 -35450000 1 6976091 6976091 -28473908.7 0.892857143 6228652.946 2 12926651 -3422160 9504491 -18969417 0.797193878 7576922.274 3 10234731 1548120 11782851 -7186566 0.711780248 8386800.818 4 8959611 733320 9692931 2506365 0.635518078 6160033.074 5 5559291 1955520 7514811 10021177 0.567426856 4264105.747 32616514.86 Payback period 4 IRR 9% Profitability Index 0.920070941 NPV -2833485.141 Table 9: NPV calculation considering the sales fluctuation (Source: created by author) In the above scenario, the entire NPV calculation has been done based on the assumption of the reduction of sales volume by 16 percent. Under this condition, the sales units have been reduced and thus, the net sales amount is also being decreased. Based on the 12 percent discounting factor, the net present value, profitability index, payback period and IRR have been calculated. This is clearly indicated that the net present value of the business is least compared to other two options. Based on the above three scenarios, this can be concluded that the original condition of the business is the most viable for production of smart phone. Under this scenario, the net present value of Emu Electronics is $12571910.74. On the other hand, the profitability index id the project appraisal technique which ensures the projects viability and the future cash outlay. Under this scenario, the profitability index is the highest i.e., 1.35. This means that the existing condition is the idea financial condition where the maximum return can be achieved by the company. In addition, the interest rate of return evaluates the desirability of the project. In the first scenario, the highest rate of return has been ascertained, thus the company should produce the new smart phone for generating more revenue in the future. If Emu Electronics losses sales on other models, that does not impacts on the new production of smart phones. Hence, any such variations will not impact on the new smart phone of Emu electronics. Therefore, the changes made in the oil handset do not impact on the net present value of the new production. Part B Ascertainment the book value of debt and equity for Harvey Norman and Interest rate risk management: Total debt to equity 2013 2014 2015 Total debt $820.28m $707.97m $698.44m Less: cash reserves -$161.66m -$144.96m -$185.84m Net Debt $658.62m $563.01m $512.60m Total equity $2.38bn $2.51bn $2.58bn Net debt to equity (%) 27.69% 22.40% 19.88% Table 10: Ascertainment of book value of equity and debt of Harvey Norman (Source: Harveynorman.com.au 2016) In 2015, the total net debt of the Harvey Norman is $512.60m. On the other hand, the total equity of the company in that year is $2.58bn. The total book value of the debt is considered both short term and long term debt of the company while calculating the total debt. On the contrary, the total value of equity has been derived after deducting the preferred equity shares. The book value of debt is useful for determination of the book ratio of the business. However, several researchers have been criticised that it is very difficult to value the debt because this has been varied at times with the figure of the balance sheet. However this above figure gives the clear idea about the companys net exposure and the overall interest rate over the years. Estimation of cost of equity of Harvey Norman: Consideration of the current price of stock of Harvey Norman: At present the stock price of the company is $5.34 which is specified in the company website. Consideration of the market value of equity and market capitalisation of Harvey and Norman: The figure of $5.94 is the overall market capitalization of the company. Computation of the outstanding shares of Harvey Norman: Presently, the company has approximately $11126.56 million of shares as outstanding in the capital market. Assessment of the current annual dividend paid by Harvey Norman: The net amount of dividend paid in the present year is $0.17. This reflects the overall rate of return which is of 5.65 percent. The yield value of government debt in Australia: This has been evident that the overall risk free government debt is ascertained as 3.25 percent and the value of the yield of the government debt is 1.49 percent Computation of the Cost of equity of Harvey Norman by using the model of CAPM: The above mentioned data attained for the yield of the market for the determination of the cost of capital of Harvey Norman. The below information are as follows: Risk free rate 3.25% Market return rate 6.60% Market value of risk premium 3.35% Variance 0.000109918 Beta 0.199367955 Covariance between stock and market 2.19142E-05 SD of market 0.010484185 Cost of Equity 3.92% Table 11: The cost of equity of Harvey Norman (Source: Created by author) Calculation of the cost of equity: To ascertain the weighted average costs of capital of the company, it is necessary to ascertain the costs of debt. The cost of debt as computed is the book value of the stock, i.e. 11.91 percent. Here the present interest rate is also being considered which is charged at 5.60 percent from Westpac. To take the appropriate decision, the investors need to assess the weighted average costs of capital. Calculation of the Weighted Average Cost of Capital of Harvey Norman considering the tax rate: Cost of Equity 3.92% Interest expenses 32.0822 Book value of Debt 269.459 Market value of cost of debt 5.60% Book value of Cost of debt 11.91% Equity 4490.27 Total Capital 4759.729 Debt 269.459 Tax rate 28.88% WACC on the basis of Book value 4.18% WACC on the basis of Market value 3.92% Table 12 : The Weighted Average Cost of Capital of Harvey Norman (Source: Created by author) Using pure play method, the assessment of the cost of capital for HCL and determining any problems which may affect the scenario: The pure play method is not efficient for the assessment of the costs of capital because it does not provide the overall costs of capital for HCL. On the other hand, HCL Company does not have the exposure of the diverse business operations which is unlike from Harvey Norman. Hence, the costs of capital may not give any benefit for the computation of the overall weighted average costs of capital. References: Galvez, E.A., Ordieres-Mer, J. and Capuz-Rizo, S.F., 2015. Analysis of project duration uncertainty using global sensitivity analysis. The Journal of Modern Project Management, 2(3). Harveynorman.com.au. (2016). Harvey Norman | Shop Online for Computers, Electrical, Furniture, Bedding, Bathrooms Flooring | Harvey Norman Australia. [online] Available at: https://Harveynorman.com.au [Accessed 26 Sep. 2016]. Bibliography: Arrow, K.J. and Lind, R.C., 2014. Uncertainty and the evaluation of public investment decisions. Journal of Natural Resources Policy Research, 6(1), pp.29-44. Aue, A., Hrmann, S., Horvath, L., Huskov, M. and Steinebach, J., 2012. A sequential procedure to detect changes in the beta for the functional capm model. Econometrica, 28(4), pp.804-837. Baker, M. and Wurgler, J., 2013.Do strict capital requirements raise the cost of capital? Banking regulation and the low risk anomaly(No. w19018). National Bureau of Economic Research. Barberis, N., Greenwood, R., Jin, L. and Shleifer, A., 2015. X-CAPM: An extrapolative capital asset pricing model.Journal of Financial Economics,115(1), pp.1-24. Cheynel, E., 2013. A theory of voluntary disclosure and cost of capital.Review of Accounting Studies,18(4), pp.987-1020. Hugonnier, J., Malamud, S. and Morellec, E., 2015. Capital supply uncertainty, cash holdings, and investment. Review of Financial Studies, 28(2), pp.391-445. Johnstone, D., 2015. The effect of information on uncertainty and the cost of capital. Contemporary Accounting Research. Liesi, J. and Punkka, A., 2014. Baseline value specification and sensitivity analysis in multiattribute project portfolio selection. European Journal of Operational Research, 237(3), pp.946-956.