Accounting For Leases And New Proposed Models Essay

Representing Leases And New Proposed Models - Essay Example The International Accounting Standards Board requires another rent bookkeeping rule that identifies with resources and liabilities. This review proposes models to be set for settling on two understandings of whether the rent increments or diminishes the two resources and/or liabilities. SFAS no. 13, which was given by FASB, was around then, 2001, demonstrating enhancement for the setting of bookkeeping gauges for leases. Many reviews on leases stuck to this same pattern, for example, 9 FASB alterations, 12 FASB specialized releases, EITF accord, 6 FASB translations and others. The FASB is ceaselessly attempting to think of a change in accordance with the Statement of Financial Accounting Standards no. 13 (rent) since it has neglected to address numerous inquiries by numerous areas of the bookkeeping, school, business and different organizations on the bookkeeping strategies and understanding of leases. SFAS no 13 expresses that an advantage can be viewed as a capital rent, where the estimation of the rented property is remembered for the accounting report of the tenant, If the four conditions recorded an are met: a) The rent passes on possession to the tenant toward the finish of the rent term. b) The renter has a choice to buy the benefit at a deal cost toward the finish of the rent term. c) The rent term covers 75% or a greater amount of the monetary existence of the benefit. d) The current estimation of the rental installments when utilizing the lessee’s gradual getting rate is 90% or a greater amount of the honest evaluation of the advantage. TWO ALTERNATIVE CONCEPTS OF LEASE ACCOUNTING One of the primary concerns of SFAS 13 is that all rent contracts create commitments that ought to be introduced to be determined sheet, in opposition to what the Financial Accounting Standards Board accepts. Truth be told, SFAS no. 13 expresses that a rent that moves generously the whole advantages and dangers episode to the responsibility for ought to be represented as the procurement of a benefit and the incurrence of a commitment by the resident and as a deal or financing by the lessor. Every other rent ought to be represented as working leases. (FASB 1976, para. 60) FASB contrasts this by saying that not all rent contracts make both another advantage and another risk. The FASB and G4+1 bunch have been actualizing the FASB standard on rent recording. Organizations in Canada, Australia, United Kingdom and New Zealand have additionally been adhering to the FASB measures. THE CONCEPTUAL FRAMEWORK AND ACCOUNTING FOR LEASES While surveying the proper accounting rules expresses that bookkeeping data that ought to be remembered for the budget summaries are those that are submitted on an ideal opportunity to the leaders. These fiscal summaries should likewise be pertinent to the dynamic procedure. Further, the budget report things should expressed so as to allow likeness between two bookkeeping periods or at least two money related substance who are auxiliaries, branches or contenders. In this manner, when rights and commitments are recorded in a rent contract, impalpable resources are made. An aircraft organization appears when it purchases a plane. As indicated by storm, There is a likelihood that residents may record the rent resource to be determined sheet will be endless on the grounds that elusive resources can't be effortlessly assessed. At the point when a bank

Common household items (chemicals) found in cells Assignment

Regular family things (synthetics) found in cells - Assignment Example Because of its enormous nearness, it goes about as the fundamental dissolvable in a cell. This is the reason a large portion of the substance responses occurring in the body include particles (solutes) that are broken down in water (dissolvable). Synthetic responses require watery medium to occur, in this manner water’s job is confirmed. A cell that needs adequate water will in general get shrivel and dried out. Cells getting got dried out prompts absolute lack of hydration of human body which is deadly. Along these lines, water, similar to oxygen, is a significant constituent of cell. Presently, we talk about inorganic mixes of a cell that are likewise found in like manner family unit. Starches are other significant carbon-based synthetic compounds/particles that offer vitality to the cell. Since most starches are sweet, these are generally known as sugars. These are called Monosaccharide, Disaccharides and Polysaccharides. Monosaccharides contain glucose and since, glucose is the most plentiful monosaccharide in blood, it is additionally alluded to as glucose. The breakdown of straightforward sugars, similar to glucose, â€Å"provides both a wellspring of cell vitality and the beginning material for the amalgamation of other cell constituents† (Cooper, 2000). Two monosaccharides join to shape a disaccharide. For instance, glucose consolidates with fructose to frame sucrose, and when glucose joins with galactose, at that point lactose is shaped which is milk sugar. Numerous monosaccharides consolidate to frame polysaccharides. Here, chains of glucose partic les consolidate to frame glycogen and starch, found in creature and plant cells individually. Lipids or, as it were, fats are additionally found in cells. These lipids are separated into classes in particular unsaturated fats, triglycerides, phospholipids and steroids. Lipids are a principle segment of cell film as well as go about as vitality and impartial fat stockpiling. These likewise go about as a defensive layer around the cell to forestall irregular exercises like additional water coming in and out.

How To Configure Blogger Comment Timestamp Format Correctly

How To Configure Blogger Comment Timestamp Format Correctly Comment Timestamp is important to display the comment date and time accurately. There are many blog which is not functioning correctly because of wrong setup of Comment Timestamp. Suppose you have a Blog and received couple of comments under a Blog post. But if your Blogs Comment Timestamp is not configuring correctly then you wont understand when and in what date that comment has been made. In case of large Blog which receive huge comments from readers they wont able to tract the newer and older comment. Comment Timestamp give information to commentator about last comments date and time. As a result other readers wont able to participate in comment thread. In case of some Blogger template you will see an error if Comment Timestamp format is not configured properly. It will display Undefined Date instead of comment time and date. So configuring Comment Timestamp is necessary for Blogger to avoid any unexpected error. In this tutorial I will show you how to configure Comment Timestamp correctly in Blogger? Available Comment Timestamp in Blogger Platform. In Blogger Platform you will find 25 types Comment Timestamp format. But all formats are not suitable for all Blog. You can choose and display either details or short Comment Timestamp format in your Blogger site. But it depends on your templates comment section design. If you are using narrow comment form then short Comment Timestamp format will be ideal. But if your template width is 1200px width then you can use details Comment Timestamp format. Sunday, May 1, 2016 at 9:43:21 PM GMT+6 May 1, 2016 at 9:43:21 PM GMT+6 May 1, 2016 at 9:43 PM May 1, 2016 at 9:43:21 PM 9:43:21 PM 9:43 PM 9:43 PM GMT+6 9:43 PM, May 01, 2016 9:43:21 PM 21:43 May 01, 2016 May 01, 2016 9:43 PM Sunday, May 01, 2016 Sunday, May 01, 2016 9:43:21 PM Sun, May 01, 9:43:21 PM GMT+6 Sun, May 01, 9:43:21 PM Sun, May 01, 9:43:21 PM 2016 1.5.16 1/5/16 1/5/16 21:43 1/5/16 9:43 PM Sunday, 01 May, 2016 01 May, 2016 21:43 01 May, 2016 Sunday, 01 May, 2016 Human Readable Comment Timestamp Format If you just use digit on your Comment Timestamp Format then it may not human readable Comment Timestamp. For example if you select below Comment Timestamp Format- 1/5/16 We will understand that 1st May, 2016 but this is not proper human readable Comment Timestamp Format. Instead of above Comment Timestamp Format if you select below Comment Timestamp, then it will be more human readable. 01 May, 2016 So, we should use human readable Comment Timestamp format for our website. Search Engine Friendly Comment Timestamp Format If you have optimized your site for schema.org markup then we should use different Comment Timestamp format. Otherwise search engine wont able to read your Comment Timestamp date. Search engine friendly and according to ISO time format we should use below Comment Timestamp format. 1/5/16 Though it doesnt affect significant your site but if you want to optimize your site for Yandex then you will see an error that Yandex cant read your post and comment date. So its better we should use the above Comment Timestamp format. But if you just focus on Google search engine then you shouldnt panic with it. But my recommendation is to optimize your site for all search engines. How to change Comment Timestamp Format in Blogger? This is very easy to change Comment Timestamp Format in Blogger. It will take less than few minutes. Just follow the below steps- Step 1Log in to your Blogger Account and Go to yourBlogger Dashboard Step 2Click on -Settings-Language and formatting- Step 3Now locateFormatting section. Step 4Select Time format next to Comment Timestamp Format. Step 5Finally click Save settings button from top right corner of the screen. Thats it your new Comment Timestamp Format set on your Blog and just check your Blog comment section, you will see all old comments time format has changed with new Timestamp Format. I hope this small tutorial will help to select correct Comment Timestamp format for your Blog.

Baseball Is An American Pastime - 3059 Words

Trey Deitrick Mr. Hubert English language and Composition 23 February 2015 Steroids in Baseball The game of Baseball is an American pastime. During the late 19th century and early 20th century it was the most widely played sport in the country. Baseball back then was what video games and televisions is to us now. Throughout the years baseball has changed in some good ways and in some bad ways. The integrity of the game has been changed in a bad way by steroids. Steroids is what makes the game today so much different than it was back then. Of course steroids have been a controversy in this game for a long time but not to the extent it is right now in the late 90s , and 2000s. The punishments that they give right now for steroid use is†¦show more content†¦Not only are these players, who use steroids and get caught , not able to play the game they love, but will lose out on a lot of money that they could be making during the games that they miss. Alex Rodriguez is a great example of financial punishment for steroid use. The suspension would be the lo ngest non-lifetime ban in Major league history and would cost Mr. Rodriguez more than 31 million in loss salary (Costa,Brian). The MLB has announced that it is going to enhance its testing policy and its punishments for using steroids or any other performance enhancing drugs. The enhanced testing procedure will include a lot more random in season tests. The number of urine tests will more than double. In the enhanced punishments there are at most three violations. A first time violation at the joint drug program will now result in an unpaid 80 game suspension, increased from 50 games.(Calcaterra,Craig). The second violation will result in an unpaid 162 game suspension rather than a 100 game. The third and final violation will result in a permanent suspension from baseball. Players want a fair and clean game, that is why they pushed for better testing and a lot more testing. The MLB commissioner, Bud Selig, was very pleased when the players pushed for stricter policies. Baseball has had its fair share of scandals. For example, baseballs first commissioner, Kennesaw Landis, was brought on to deal with the Black Sox scandal.

The Fate Of Mankind Without Religion Free Essay Example, 1500 words

Even though the answers to this inquiry might be debatable, this paper looks into some of the factors that might determine what might happen without religion in the modern era. For this reason, the paper will include an extensive literature review that is necessary for answering the research question. Individuals view religion as a belief system that affects their values, customs, laws, as well as their behavior patterns. These factors have an effect to individual people, groups or communities that they live in as well as an entire nation, and due to this, one might be able to argue that religion plays an integral or peripheral role in the society (Kevin et at, 2008). It is possible to see religion as a complex entity characteristic of organizational bureaucracy or it might be viewed as a simple relationship between an individual and an object or something that is a subject of worship. One of the key role of religion in a society is the explanation of the nature of life, explanation s of the primal origins of a given society, and the determination of the functions as well as aims of living. We will write a custom essay sample on The Fate Of Mankind Without Religion or any topic specifically for you Only $17.96 $11.86/page On this note, one might argue that without religion, it might be difficult to ensure a systematic and organized functioning of the society. Through religion, dictates on some of the acceptable standards that people in society must adhere to are determined. This means that people wishing to live by these dictates will remain in society and they should be able to ascertain that they adhere to the dictates. However, the regulations should be based on acceptable limits.

Hamlet And Laertes By William Shakespeare - 1469 Words

Shakespeare’s characters Hamlet and Laertes, in the play Hamlet, attempt to attain revenge for their fathers, but contrast in their approaches to achieving revenge, and their view of life as a whole, their failures revealing the inevitability of fate. Just as Hamlet’s inaction hinders him from achieving his goal of killing Claudius, Laertes’s impetuosity similarly leads him astray from his goal their inability to achieve these goals. The power of fate is thereby revealed through the futility of human actions due to the looming and palpable presence of human mortality. The downfall of each hero due to their respective Hamartias contrast to the outcomes of those who submit to fate, conveying the message of the inevitability of human†¦show more content†¦This regret and his indecision indicate that Hamlet’s true internal conflict was not with Claudius, but that was merely a manifestation of a deeper problem, that being a conflict with death, and its inevitability. Hamlet’s unhappy death reflects a lack of fulfillment during his lifetime showing the power of fate, as all his actions were not due to his own choices and did not bring him happiness. Laertes’ death is similar to Hamlet in this aspect despite his vastly different personality and actions. Laertes’s external conflict as established before is his conflict with Hamlet, who killed Polonius, his father. However, like Hamlet, this conflict remains after his death. Though he kills Hamlet he chooses to forgive Hamlet, begging him to â€Å"Exchange forgiveness with me, noble Hamlet./Mine and my father’s death come not upon thee† (Act 5 Scene 2 362,363). This shifts his external conflict to Claudius who he blames for his father’s death instead, but is unable to take revenge for his father due to his wounds in an ironic twist of fate, his believed free will results in him unable to fulfill his external purpose in life as his actions â₠¬Å"Hath turn d itself on me† (Act 5 Scene 2 348). Laertes too dies with regret as he is also unable to resolve his internal conflict which is his moral dilemma, desiring revenge but unsure of what costs he must pay to attain it. This conflict is notShow MoreRelatedHamlet And Laertes By William Shakespeare1265 Words   |  6 Pagesâ€Å"Hamlet and Laertes† William Shakespeare s Hamlet is one of his excellent tragedies which explores the difference between themes such as love and revenge or the complexities of life and death. In Shakespeare s play, Hamlet and Laertes show some comparisons and contrasts which give an abundance of interest to the play. In fact, Hamlet and Laertes display impulsive reactions when angered; both have fathers killed, and both are seeking revenge. Even so, both characters display a considerable likenessRead MoreWilliam Shakespeare s Hamlet, Ophelia, Laertes And Laertes1308 Words   |  6 PagesEra. In William Shakespeare’s Hamlet, Ophelia, Hamlet’s love and also the daughter of Polonius. 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The avengers Hamlet and Laertes both want to seek their fathers revenge, fight toRead MoreConflict Between Hamlet And Laerte By William Shakespeare1564 Words   |  7 PagesThroughout Hamlet, several characters die. For most, this happens through combat, such as the duel between Hamlet and Laerte, which kills them both. In the play, however, two characters die in quick, seemingly careless ways. The first, the fair Ophelia, is killed by her own madness in what seems to be suicide. The other, Gertrude, dies due to the carelessness of her husband, who accidentally poisons her. In both of these cases, their deaths, and the events that led to them, represent a differenceRead MoreWilliam Shakespeare s Romeo And Juliet856 Words   |  4 PagesWilliam Shakespeare is an American playwright and poet. He was born April 23, 1564 and died on the same day 52 years later on April 23, 1616. Throughout his life, he has accomplished many things. Some of his most famous works include but are not limited to Romeo and Juliet, Macbeth, and Hamlet. For one of his famous works, Hamlet, Shakespeare uses plot to strengthen the point of corruption in the play. Another element used to further help the theme of the play is character. The final literary elementRead MoreFriendship And Relationships In Hamlet919 Words   |  4 Pagesreason to read a novel in school is not so much for the fun of reading, but for the lessons learned. William Shakespeare’s Hamlet, is not considered a classic without good reason. The play touches upon a wide variety of topics, teaching the reader a great deal about life. Shakespeare provides wonderful insight into everything from friendships to death. Of all the stories taught in British Literature, Hamlet is certainly the most important piece to keep due to the lessons in presents. It is definitelyRead MoreWilliam Shakespeare s Influence On The Course Of World History1440 Words   |  6 PagesWaldo Emerson, a famous essayist inspired by Shakespeare’s works. William Shakespeare was a renowned author, poet, actor, and playwright. He has contributed to many components of life today such as; founding modern English language, contributing to literature, contributing to modern theater, and contributing many of his works to modern English. William Shakespeare has greatly impacted the course of world history. William Shakespeare was believed to be born on April 23,1564, in his hometown of Stratford-upon-AvonRead MoreThe Fatal Opposition Of Hamlet And Laertes1035 Words   |  5 PagesOpposition of Hamlet and Laertes Newton s Third Law states that to every action, there is an equal and opposite reaction (â€Å"Centripetal†). Many people have found this to not only be true in science but also in different situations, everyday life, and even in literature. In literature, when a character is equal but opposite to the protagonist, that character is called the foil. In the drama Hamlet by William Shakespeare, one character that is said to function as Hamlet’s foil is Laertes. Laertes is shownRead MoreEssay on Revenge in Hamlet912 Words   |  4 PagesWilliam Shakespeare is considered the greatest writer of the English language. Shakespeare wrote hundreds of pieces, from sonnets to plays. Hamlet is one of his most well-known plays. There isn’t any shortage of revenge in Hamlet, and so that is the theme we’ll be discussing. Hamlet and Laertes are the most obvious character with revenge in their minds, and that’s who we’ll be focusing on throughout the essay. Two months before the beginning of the play, the King Hamlet dies.Read MoreWilliam Shakespeare s Hamlet - Longing For Revenge1304 Words   |  6 PagesLonging for Revenge William Shakespeare was born in England in April of 1564 and was an English poet and playwright . Shakespeare is universally known as the greatest writer in the English language. Shakespeare frequently produced tragedies that are continuously acted out today, along with many plays and sonnets.. Although Shakespeare is seen today as a great writer who changed the world, his reputation did not rise to these heights until around the 19th century. In all of Shakespeare’s astounding

Weapons of Mass Destruction free essay sample

The first chemical weapon, the second a biological, the third is classified as a radioactive weapon; and each of these weapons are capable of killing hundreds of thousands. So whats the difference between these different kinds of weapons? First, the chemical weapon of mass destruction. The chemical weapon has been around since the start of World War I. During World War I the U. S. created mustard gas, a gas that was tasteless, colorless, and odorless; but would cause giant blisters on the skin and lungs that would eventually enlarge until they took over the whole body and the person would die. Throughout the years the U. S. was able to concentrate the power of this chemical weapon and make them more precise. Now, small scale chemical weapons are used on a daily basis. We use tear gas for crowd control, laughing gas to knock someone out, and many different types of anesthesia and crowd control devices that are considered small scale chemical-weapons of mass destruction (WMD). The second type of weapon is a biological weapon. A biological weapon make use of many biological agents, including bacteria, viruses, and toxins. These different materials can now be concentrated and used to wipe out whole nations. In Israel and Africa biological weapons are used on a daily bases. People will take a dead or diseased animal and use it to foul up a well so that when people drink out of that well, they get sick, and it spreads throughout villages killing he all the villagers before it can be stopped. In today’s society biological weapons are becoming less popular with the U. S. but more popular with other nations. Syria in the 20s were trying to isolate the virus small pox to conceal it into a weapon. It took them six years to finally develop the missile, but when they were finished they had enough small pox disease to wipe out the entire world twice over. The third classification of weapon is a radioactive weapon. Radioactive weapons were created in 1943 when a scientist was studying a chemical weapon. The scientist said that the chemical weapon gave off a deadly material that would destroy objects and render land useless unless the land is torn out and replaced with new soil. The scientist died before he could discover anymore. He died of radiation poisoning. The U. S. has drones that are constantly patrolling the air looking for anything suspicious and reporting it. The drones use lasers to help them take a picture with their thermal heat cameras that help us to find WMD’s. Most weapons can easily be detected, but the hardest one to detect is a biological weapon of mass destruction. Biological weapons are difficult to identify because they use microscopic bacteria. Lasers and ionization can now be used to automatically find the bacteria in a given sample. Analysis of the bacteria present can alert the inspector to the presence of common bioterrorism agents like anthrax. Handheld devices are carried by United Nations weapons inspectors. This brick-sized machine can analyze a sample and tell whether is contains deadly bacteria or not. This process used to take a whole lab of equipment. (Drones). As you can see, the U. S. has an extremely reliable detection services that can easily detect a WMD. We have x-rays, gamma imaging, drones, and powerful lasers that can detect the presence of a nuclear weapon that could kill millions. All in all the U. S. has created many different resources that could save millions of lives with teams ready to deploy on sight of a sighted WMD: constant aircrafts that are patrolling the skies, and very advanced technology that can search out any type of weapon; whether it be launched or is still being transported, we will find it. Although it is true that many other countries have successfully created weapons of mass destruction that could destroy the U. S. , this is the reason the war in Iraq started was because of nuclear weapons. However, other countries alone having weapons of mass destruction would not be enough to harm us because we are prepared. In conclusion, even though there are other countries with weapons that could destroy the U. S. , we are prepared enough that it would not pose a very big threat because it could easily be destroyed. Though many people believe that the U. S. is not ready to defend itself against weapons of mass destruction; there are many precautions in place including: missile targeting systems, patrolling aircrafts, and teams ready to deploy on sight of a WMD that has been fired. The U. S. has trained teams of military men and women trained to react in a situation involving a weapon of mass destruction. The military only accept the ones that are able to pass the test with one hundred percent accuracy. The men and women are ready any time and any day to react to the threat of a weapon of mass destruction. All over the United States there are Air Force units patrolling the sky and watching for anything out of the ordinary such as weapons of mass destruction. The pilots that are accepted into the U. S. Civil Air Patrol go through vigorous training to make them aware and ready to be thrown into action and have to adjust to a situation and solve a problem. They go through many challenging tests and advanced training to make sure that they can protect the American people. With all of the busy men and women in this country we need something that will never tire or fail to work. That is why missile targeting systems were created so they could keep a constant protective eye on the American people to keep them safe from any harm of a nuclear weapon.

Animal Essays (1058 words) - Animal Welfare, Animal Testing

Animal Rights "It is possible to commit an immoral act against a non-human animals." In order to commit an immoral act against a non-human animal, one must define the word "morality". According to the definition it means conformity to the rules of right conduct,. On the other hand immorality means wickedness or evil (random house dictionary). So in reflection a wicked or an evil act against an animal is an immoral act also. I believe that it is possible to commit an immoral act against an animal because they are creatures just like us. They feel pain and emotions just like us humans. When someone violates our rights, we get hurt which often results in some kind of action. But animals are helpless, they can't take any action because they are less intelligent then humans. However I do believe that humans are the supreme beings on this planet and that we are on the highest evolutionary scale, but still that does not give us the right to commit wrong acts to the animals. Some of the wrong or immoral acts that I strongly oppose to are animal experimentation, entertainment involving animals, hunting and finally habitat destruction. Animal experimentation is unethical due to the suffering and death on animals in the laboratory and that they have a right to be free from such exploitation. Vivisection is the practice of experimenting on animals which started due to the religious prohibitions on human dissection. When religious leaders finally lifted these prohibitions, it was too late, vivisection was already entrenched in medical and educational institutions (internet). The author of the article on "animal experimentation is unethical" also opposes vivisection because he believes that is "morally wrong, cruel & fruitless." He also believes that they are characterized by scientific limitations, the most important of all the difficulty of transferring results to human beings with any degree of reliability (Bender 55). There are many reasons to oppose vivisection for example the enormous physiological variations among rats, rabbits, dogs, pigs, and human beings. An experiment in 1989 was performed to determine the carcinogenicity of fluoride proved this fact (internet). Approximately "520 rats and 520 mice were given daily doses of the mineral for 2 years." Not one mouse was adversely affected by the fluoride, but the rats experienced health problems . "As test data cannot be accurately transferred from a mouse to a rat, it cannot be argued that data transferred from either species to a human (internet). Some other reasons to oppose vivisection is the deliberate infliction of burns on animals, and research in psychology. In a study, guinea pigs were for 3 seconds in 100 degrees Celsius water (Bender 56). How would you feel if somebody immersed you for 1 second in hot boiling water? Would you feel any pain? In psychology research, countless animals have been "surgically dismembered, drugged, starved, fatigued, frozen, electrically shocked, infected, cross-bred, maddened, and killed in the belief that their behavior would shed light on human behavior (Bender 57). These things mentioned are morally wrong because they are evil in nature. As evil in nature as animal experimentation sounds, so is the entertainment business involving animals. I believe that animal circus is perhaps the most cruelest entertainment of all because the way animals are treated. I don't understand what kind of charm or fun people get out of watching animals do humanly acts. Why do we want animals to be more like us when they are perfectly fine being themselves? When we watch the circus, we only see what goes on in front of us, but what goes behind the scenes is a completely different story. Some animals are beaten to perform better, they are chained to iron poles so they won't run away. These animals are wild, and they need their space, and if they don't get their space, these animals react in a negative way. We often see on T.V. elephants running on the streets if kept under confinement because animals like elephants do have emotional feelings. Elephants also mourn for the dead and are observed to be around the dead for several days which proves that elephants have emotion. Other entertainment involving animals are also immoral such as bull fighting, hound racing and cock fights because it is unnecessary and causes much blood-shed to the animals (Disilvestro, 90) Another example of immoral behavior towards the animals which also causes blood-shed is hunting for pleasure and conservation. It is cruel and inhumane to kill animals for fun because they have pain, they have families. Many elephants are hunted down just so

Religion in schools essays

Religion in schools essays Religion in schools is generally supported by the public, yet declined by the government. Documents 1, 2, 4, and 5 support religion in schools. Document 1 displays the first amendement, which supports the freedom of speech and religion. Document 2 contradicts the government's support for religion, as shown in document 1. From the point of view of a representative, the document points out that the government banned religion from our schools, yet he argues that we are still taught all of the bad things. Document 4 represents the public's opinion. The poll results showed that more than three fourths of the public was in favor of religion in our schools. Document 5 comes from the point of view of a regular teenage part of the public. She thinks religion should be permitted any and everywhere. Document 3 does not support religion in schools. This document is a controversy. Two sides had opposing views. The view against religion in schools won. A transcript of the trial would be helpful in determining the exact views of the opposing parties. Document 6 is neither supportive, nor against religion in schools. It merely explains the misunderstandings of the controversy (of religion). Its not that you cant pray in school, you just cant do it publicly. Documents 1 and 3 actually prove the effects of the government. In document 1, the First Amendment allows the freedom of religion and speech. That should allow religion to be practiced anywhere and anytime. In document 3, though, the Supreme Court rules against the First Amendment, basically. That is the ruling that doesnt allow religion to be practiced in schools. Religion in schools is generally supported by the public, but declined by our government. The government should allow it to be practiced due to the First Amendment, but does not allow it due to the Santa Fe vs. Doe ruling in 2000. ...

Esaay 1 Essay Example | Topics and Well Written Essays - 500 words

Esaay 1 - Essay Example One of the justifications for this was parens patriae, meaning that the state has the right to intervene in the affairs of the child when they feel that the child is endangered or not being taken care of properly. One of the main guiding points is the environment in which the child has grown up in. Social learning theory and living with parents that do not nurture the child can lead to an increase in deviant behavior. Therefore, the child has not been taught how to act properly in society. This would then fall under parens patriae, in which the state would intervene and focus on the rehabilitation, not on punishment like the adult contemporaries. In addition keeping the children with positive role models through foster care can also help with their deviant behavior by taking them out of areas they associated with their bad life style, such as what they did in New York and Baltimore. One of the most important themes posed by Platt is the question of bringing juvenile crime into the sc ope of criminal law and the effect of nature vs nurture. This is a completely applicable question in today’s judicial system. Some children are born with a conduct disorder which can lead to more severe deviant disorders during development.

Construction Economics Assignment Essay Example | Topics and Well Written Essays - 2000 words

Construction Economics Assignment - Essay Example Many people took out very large mortgages. In 1983, the average new mortgage was approximately 2.1 times annual average earnings. By 1989 this had risen to 3.4 times annual average earnings. House prices were rising uncontrollably and bringing considerable inflationary pressures to bear within the economy. As a result, the government increased rates and reduced government assistance to home ownership. The impact of these measures plus a worsening economic environment drove house prices down and the housing market into a state of recession (Williams and Holmans, 1996). In mid 1989 house prices started a downward trend for the next six years, falling by 12 per cent, before reaching a trough in July 1995.In the years 1990 - 1995 house prices fell by around 12.2%. Many people found themselves in a position of having negative equity on their property because the value of the mortgage now exceeded the property value. This meant many people were unable to move house without taking a loss. Then, in 1996, house prices began to rise again. The UK housing market started to recover with a 7 per cent increase in prices. The low interest rates enjoyed by UK homeowners have reduced mortgage payments as a proportion of gross earnings for the average purchaser from 22 per cent to just 15 per cent. Consequently, mortgage payments account for a smaller share of income than at almost anytime since 1983 and are well below the 36 per cent peak in 1990. Since May 1997, house prices have been on a steady rise. Many factors have contributed to this increase including growing population, rising employment, increasing number of households, limited supply of new housing properties and the emergence of alternatives like buy-to-let. Another important reason is the increase in popularity of real estate as an investment avenue. Fall in the level of confidence in traditional investments and increase in speculative avenues has contributed immensely to this. The fall in long-term real interest rates - the gap between inflation and interest rates on government bonds - has helped support property investments. The most complimenting factor, however, has been the short-term interest rate set by the Bank. The sharp fall in prices at the end of 1980s and early 1990s pushed the interest rates to very low levels in relation to rents and other assets and incomes. This, combined with the realization that lower interest rates were meant to stay, created a strong and steady rise. By 2001, though house prices were still below their long-term trend, the boom had begun to fade. Further to this, there followed a series of global events that ruptured the boom even further. In response to the bursting of the dotcom bubble, September 11 and the start of the Iraq war, the Bank cut rates, taking them all the way down to 3.5% during 2003. Then, however, the Bank switched into tightening mode, raising Bank rate five times between November 2003 and August 2004. The results of this on the housing market were significant, producing the famous 2004-5 pause in prices. Determination of equilibrium price and quantity The determination of price depends on the type of market organization the product belongs to. In a competitive market, the point of intersection of market demand and supply curves determines the

Impact of Gst on Fmcg Sector Essay Example for Free

Impact of Gst on Fmcg Sector Essay Initially envisaged to be in place by April 1, 2010 the GST would result in a major rationalization and simplification of the consumption tax structure at both the centre and state levels by replacing all central and state level indirect taxes such as value added tax (VAT), excise duty, service tax, entertainment tax among others bring relief to the common man. GST: An Executive Summary GST is the most ambitious indirect tax reform in India ever attempted and aims to create one â€Å"borderless domestic market†. It will tax consumption as against â€Å"production† which is the current norm. A uniform rate will be imposed on a product only once, at the point of its supply, thus reducing the cost for consumers. Key benefits: If GST is implemented without many exemptions and with a single rate, the following benefits will accrue: * Macro: Successful pan-India implementation will add 1-1. 7 % to the GDP and boost the tax/GDP ratio. * Micro: Incidence of tax will come down in case of manufactured goods. However, in case of services the incidence and coverage of tax may rise resulting in higher prices. Industry: Volume growth will accrue as incidence of taxation is minimized. Also, supply chain efficiencies will accrue as there will be no need for multiple depots and warehouses. Driven by growing consumption in rural and semi-urban areas, the fast moving consumer goods (FMCG) market is expected to double from $14. 7 billion in 2008-09 to $30 billion in 2012, according to a study titled â€Å"Prospects in the FMCG sector†, released by the Associated Chambers of Commerce and Industry of India (Assocham). The Indian FMCG sector is the fourth largest sector in the economy with a market size in excess of $14. 7 billion. A well-established distribution network, intense competition between the organized and unorganized segments characterize the sector. GST is a tax on consumption, and since FMCGs form the core of the consumption basket, the sector would be watch closely on the heels of its implementation. The sector is bound to witness many gainers and closers, depending crucially on the base and rates of the GST. Currently both centre and state tax rates vary- central value added tax (CENVAT) duty varies from 0-14 % (reduced to 8% under the fiscal stimulus package) and the state VAT varies between 0% and 12. 5%. Indications are that the combined centre and state GST on FMCGs could range between 12% and 14%, if applied at a single rate. At this rate, the total burden on FMCG’s should remain approximately the same as under the current structure. However, it would lead to simplication in the tax structure and would mitigate the disputes relating to classification of goods into various tax rate categories and determination of factory price for application of CENVAT. However, if food and other basic necessities were to be exempted or made taxable at a lower rate, then the standard rate for other goods and services could be pushed up to 18% or more. This could lead to disputes on classification of goods to the two rate categories. Leaving aside the issue of rates, many benefits are to be realized with respect to simplification of the supply chain which are summarized thus: Impact of GST on the FMCG Supply Chain: The introduction of GST is expected to build best-in-class capability in supply chain as well as people capability and enhance India’s cost leadership position by eliminating inefficiencies in supply chain and taxation: * Multiple Route-to-market models: Upto 35% reduction possible in time-to-market. Simplification of Supply Chain: With the elimination of central sales tax, manufacturers could implement a centralized warehousing and distribution centre and need not set up distribution depots in individual states and make inter-state sales via consignment agents. * Elimination of Tax Cascading: Currently, FMCG dealers cannot claim a credit for the service tax paid on their inputs. Restrictions also apply on claimin g credits for VAT on inputs other than goods for resale. Reduction in Inventory Costs: Currently, the CENVAT is included in inventory costs, because of which the dealers costs increase. Under the new structure, the GST paid on inventory would be fully recoverable as input tax credit, reducing the inventory financing costs. * Cash Flow benefit from tax: The dealers would be collecting GST from their customers as they make sales, but would be required to remit it to the government only at the end of the month or the quarter, when they file their returns. This extra cash float would be like a recurring interest-free loan from the government each quarter. These benefits would be then passed on to the customer in the form of Potential Price Reduction which are depicted below: ( Under two scenarios of 14% and 16% Excise Duty) Direct Impact on Logistics with trickle down benefits for FMCG: The cost of logistics in India is about 13% of the GDP, among the highest in the world. This higher logistics spend in India is attributed to the inefficiencies in the system which are expected to be done away with the new taxation regime. The previous regime has resulted in an unorganized and fragmented warehousing industry necessitating streamline of the logistics industry processes. The GST would impact the Logistics sector as under: * Consolidation outsourcing in warehousing: Achievable due to inherent advantages of low fixed costs, low employment of manpower and administrative effort. * Reduction in number of Distribution Centres (DC’s): Post GST, state specific distribution centres are expected to change to regional DCs. The outcome of this would be fewer DCs of larger size, more value inventory and a higher number of trasactions. Improvement in Quality of Services: Costs savings can be used to improve the quality of services and the usage of larger line haul vehicles, larger loads and cross docking. * Alleviation of complexities in documentation and inter State barriers: Through a uniform and seamless application of CGST SGST irrecoverable taxes such as Central Sales Tax (CST), complex documentation of inter State movement of goods, entry barriers at state borders resulting in long transportation times and imposition of local levies such as entry taxes and octroi upon physical entry of goods into designated areas can be done away with. Analysis: In order to satisfy the set of customer needs through its products and services, the firms operating in the FMCG space need to achieve a consistency between their Business Strategy, Product Development Strategy, Marketing Sales Strategy and Supply Chain Strategy. As identified earlier, the supply chain strategy which revolves around Operations, Distribution and Service is geared towards cost leadership by the implementation of GST, all while improving quality of service. In the FMCG sector, there is a need for an efficient supply chain as consumer goods typically depict predictable demand, explaining their low margins. GST helps us achieve thus by alleviating complexities inherent in the existing tax system. Facility Network Design Considerations: Increase in the number of facilities increase costs associated with inventory, setting up of additional facilities and transportation. As discussed earlier, the elimination of the Central Sales Tax can help the industry work towards consolidation of warehouses and distribution centres, reducing the number of facilities and thereby the overall logistics costs. Same has a direct impact on response time, and the savings realized by facility reduction along with the multiple route-to-market models that have opened up, could lead to a 35% reduction in time-to-market. Recommendations: Based on the secondary data collected, and the subsequent analysis of the FMCG sector the following recommendations have been tabulated for the benefit of the policy makers: * Extended date of implementation: Setting of the deadline as October, 2010 as opposed to April 1, 2010 would help the Centre solve any and all disputes related to its implementation with the States leading to a flawless roll-out. Removal of classification between goods and services: To ensure there are no classification disputes, leading to more complications and delays. * Removal of existing area based exemptions: the existing area based exemptions in respect of CENVAT should be discontinued and if need be a direct investment linked cash subsidy may be provided to support the industry, for b alanced regional development. The idea is to not break the GST chain with regard to both CGST SGST. Some of the options around re-engineering the supply chain would relate to decisions on indigenous supplies vis-a-vis imports; Intra-State vis-a-vis Inter-State procurement manufacturing service/warehousing stocking locations, in-house v/s contract manufacturing, direct sales v/s stock transfers etc.

I Am A Hunter Essay example -- Personal Narrative Writing

One cold and bleak December day, I set off into the woods with the sole intention of shooting a grouse for dinner. There would be no sport today; no explosive flushes, no finely crafted double barreled shotguns, no spectacular wing shots. They have their place but not today. A semester at college had made me hungry for fresh, clean, unprocessed meat. I would shoot the bird in the head, on the ground, with a .22 rifle. I was unashamedly out to kill. It was getting dark when I glanced up into the dark boughs of the spruce. I had searched every alder thicket, brush pile, and apple tree that I knew of and here, not one hundred yards from my back door, was the dark, unmistakable, silhouette of a grouse. I slowly raised my rifle, took careful aim, and slowly pulled the trigger. With the snap of the shot, it somersaulted to the ground. My heartbeat quickened as I rushed over to where the bird had fallen . . . Man is a predator and therefore by nature, a hunter. Do not doubt this. While we do not possess the speed of the cheetah, the rapier-like talons of the falcon, nor the strength of the bear, we do have the greatest weapon of all- our superior ability to think. It was the great equalizer that brought us the club, the spear, and the 30.06. For over ninety-nine percent of our history we have utilized weapons as hunter-gather societies (Caras 7), with males traditionally doing the bulk of the hunting. Certainly the remaining one percent is too short a time in our evolutionary history to lose complete touch with our instincts. True, today's "civilized," sedentary world has rid us of our original need to hunt but it has not completely rid us of the urge to hunt in all of us. There are still those of us, for what ever reason, maybe ... ...id. Walden and On the Duty of Civil Disobedience. Macmillan Publishing Co. New York. 1962. U.S. Department of the Interior, U.S Fish and Wildlife Service. 1985 National Survey of Hunting, Fishing, and Wildlife Associated Recreation. Washington, D.C. 1988. Works Referenced Casada, Jim (editor). Tales of Whitetails. South Carolina University Press. 1992. Chatwin, Bruce. The Songlines. Viking Penguin. 1987. Hemingway, Ernest. The Green Hills of Africa. Charles Scribner's Sons. New York. 1935. Johnson, Roger. Aggression- In Man and Animals. W.B. Company. Philadelphia. 1972. Leopold, Aldo. A Sand County Almanac. Oxford University Press. London. 1949. Marsh, Peter. Aggro- The Illusions of Violence. J.M. Dent. London. 1978. Robinson William and Eric G. Bolen. Wildlife Ecology and Management. Macmillan Publishing Co. New York. 1984.

Consumer Buying Behavior for Life Insurance

Consumer buying behavior is nothing but their needs, which arouse them to buy. There is hierarchy of need from high level to low level. They initiate to buy their high level need after completed that they move for another need. Consumers 1st recognize their need or problem then gather information about that product. They get many alternatives regarding that product then they evaluate each and every criterion, which give them bundle of attribute towards that product. Now they choose among one of them to buy and they make decision to buy that product. There are some factors influence them to buy.These are cultural factor, social factor and demographic factors. ? Culture factors include their region, culture and their social classes, which is based on their education and occupation. ? Social factors include reference, groups and family, which influence them to buy according to their choice. People buy product according to its role and status. ? Demographic factors includes age group, pe rsonality, occupation, life style etc. people buy product according to under comes all these factors. Introduction Insurance has got its origin from the concept of Indemnity.Indemnity against to loss, it has occurred due to some unavoidable circumstances. To some, the concept of insurance has got its origin related to the uncertainty in the life. Uncertainty has been the integral part of everyone's life, be the uncertainty in terms of money, uncertainty in terms of life etc. Throughout the tenure every other individual's effort is directed towards avoiding this uncertainty. The concept of insurance has got its origin from this very effort of avoiding the uncertainty. Though it is not possible to avoid the uncertainty, it is highly possible to compensate the loss, which has occurredVIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 6 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY due to happening of this uncertainty. This compensation of unavoidable circumstances (uncertainty ), which has occurred, is known as Insurance. It is the pooling of funds by many to compensate the loss of few, whereby many individuals pool themselves together to create a fund in order to compensate the loss that has occurred to the few. Insurance as we know today can be traced to the Great Fire of London which, in 1666 AD, destroyed 13200 houses.In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, â€Å"The Fire Office†, to insure brick and frame homes. Gradually the concept of insurance came to be understood as a contract that offered the purchaser protection against the financial loss due to specific incident. Since the risk of financial loss was to be spread amongst the large group of people, the extent of financial loss, In the event of mishap occurred, became less devastating to the individual.Though the concept of insurance is old as history of mankind, back to some 6 000 years, it got its presence registered in India somewhere in 1818 with opening up of Oriental Life Insurance Company in Calcutta by Europeans. During those years Indians were considered as substandard and they were forced to give high premium on account of their low profile. However with the continuous effort of few eminent people Indians were later considered as of equal status and they were charged the normal rate, at par with the Europeans.This was majorly due to the establishment of first Indian life Insurance company, Bombay Mutual Life Assurance society in the year 1870. Later on the development of Indian life insurance industry was more fired by the patriotic sentiments and gave rise to number of Indian life insurance companies viz. United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were amongst those company which was formed to treat the Indian populace at par.With increase in the pressure from Indian intell ect, to give the Indian Insurance industry an organized structure, Government of India was forced to pass Life insurance Companies act, 1912 and Provident Fund act. But this was not the end to the suffering of Indian populace that even this act recognized the demarcation between the Europeans and Indian while charging the premium, then came the act of 1938 which not only governed the Life Insurance Industry but also had its spread VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 7 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY to the Non life Insurance Industry.With the increase in atrocities from all these companies, the demand to amend the prevailing act of 1938 assumed velocity. Thus in the year 1956 the act was passed as Life Insurance Corporation act, 1956 on 19th June, 1956 which called for nationalization of all the Insurance company working in India under one name as Life insurance corporation of India (hereafter LIC). Thus LIC was formed on 1st September 1956, wit h an objective to spread life insurance especially in rural areas as a mean to provide the protection cover to the life of Indian populace and as tool to help them in the time of financial need at a reasonable cost.Till 1999 LIC was the only life insurance player in Indian Life Insurance field, when government of India decided to amend the then prevailing act prohibiting the private life insurance player to enter the Indian market. It was Insurance Regulatory Authority, 1999 (IRA) that gave the freedom the private players to play in the field. But the basic motive for introducing such an act was not fulfilled as the amended act was meant for only regulation purpose only and not as a development tool and hence the act was further modified to add the element of development to the concept and thus came the current prevailing act i. . Insurance Regulatory and Development Authority (IRDA), 1999. It was further amended to incorporate the element of competitiveness. Thus Government of Indi a via IRDA permitted the private Life Insurance player also to enter the Indian field; and made some provision for foreign insurance companies that if they want to enter the Indian market they can do so but to the extent of 26 % of share only with any of Indian partner. Today almost 15 private life insurance companies are working India, some in wholly owned format and some as a joint venture with foreign company or with Indian company.Together they hold the market share of approx. 24 % in life insurance market. Still LIC holds the kingship with almost 76 % of market share. That's the good news for the LIC people on one part but on another aspect if we deal that shows the pace at which the private life insurance companies are moving, they are defiantly going to give the tough fight to LIC. The leadership lies not in getting the maximum out of market share but it is there somewhere in understanding the reason for the choice of one product over another one. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABADPage 8 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Consumer hierarchy of needIt is important to understand the relevance of human needs to buyer behavior remember, marketing is about satisfying needs). Need as a physiological or psychological deficiency a person feels the compulsion to safety, suggesting that need creates tension that can influence a person’s work attitudes and behavior. Customers set an order for their needs from high level – low level need. They prefer 1st, which is most essential for them, after completed that, they give privilege to next need.There are five needs exist in a hierarchy – Need- Physiological needs such as food, air, water, heat, and the basic necessities of survival need to be satisfied. Safety -Need for a secure environment, protection and stability in the events of day to day’s life, Such as life insurance. It make people tension free about any risk at their life. Society- At the third level we meet our social and belongingness needs i. e. we marry, or join groups of friends, etc. person paying tax according to their income, feels the social responsibility and acceptance by society as a good citizen.Life insurance is also a part of the social needs, which reduce the tax and also cover the risk with the attribution of facilities towards plans. Esteem- Esteem means that you achieve something that makes you recognized and gives personal satisfaction, example writing a book, investment for family obligation or have a pension plan for support at future, which arise self respect insight a person. Self actualization – Self actualization is achieved by few. Here a person is one of a small number to actually do something.For example, Neil Armstrong self-actualized as the first person to reach the Moon. The study of how and why people purchase goods and services is termed consumer buying behavior. The term covers the decision-making processes from those that precede the p urchase of goods or services to the final experience of using the product or service. Models of consumer VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 9 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY buying behavior draw together the various influences on, and the process of, the buying decision.They attempt to understand what happens within the consumer between his or her exposure to marketing stimuli and the actual decision to purchase. Characteristics of Indian consumer behavior The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world. Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market. Indian consumers have a high degree of family orientation.This orientation in fact, extends to the extended family and friends as well. Brands with identities that support family values tend to be popular and accep ted easily in the Indian market. Indian consumers are also associated with values of nurturing, care and affection. These values are far more dominant that values of ambition and achievement. Product which communicate feelings and emotions†¦ What is insurance? Insurance is a policy from a large financial institution that offers a person, company, or other entity reimbursement or financial protection against possible future losses or damages.The meaning of insurance is important to understand for anybody that is considering buying an insurance policy or simply understanding the basics of finance. Insurance is a hedging Instrument used as a precautionary measure against future contingent losses. This instrument is used for managing the possible risks of the future. What is life insurance? Life Insurance is the key to good financial planning. On one hand, it safeguards your money and on the other, ensures its growth, thus providing you with complete financial well being.Life Insur ance can be termed as an agreement between the policy owner and the insurer, where the insurer for a consideration agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness, critical illness or VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 10 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY maturity of the policy. Life insurance plans, unlike mutual funds, are beneficial when you look at them as a long term avenue of investment which also offers protection through life cover. Life insurance policies are broadly categorized into two Types- Traditional Plans ? Unit Linked Insurance Plans (ULIPs) Traditional planTraditional policies offer in-built guarantees and define maturity benefits through variety of products such as guaranteed maturity value. The investment risk in traditional life insurance policies is borne by life insurance companies. Additionally, the investment decisions are regulate d to a large extent by IRDA rules and regulations, ensuring stable returns with minimal risk. Investment income is distributed amongst the policy holders through annual bonus. These policies are ideal for policy holders who are not market savvy and do not wish to take investment risks.Term planTerm Insurance helps the customers in safeguarding their families from financial worries that rise due to unfortunate circumstances. Term plans are pure risk cover plans with or without maturity benefits. These pure risk plans cover your life at a nominal cost Term plans also let you avail the benefit to cover your outstanding debts like mortgage, home loan etc. In case of something happens to you, the financial burden is borne by the insurance company and not your loved ones. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 11 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICYTerm plan offers following benefits? High insurance Cover at lower costs ? Financial security against loans and mortgages, ? Single premium payment option available Whole life policy? As the name suggests, a Whole Life Policy is an insurance cover against death, irrespective of when it happens. ? Under this plan, the policyholder pays regular premiums until his death, following which the money is handed over to his family. Endowment policyCombining risk cover with financial savings, endowment policies is the most popular policies in the world of life insurance. In an Endowment Policy, the sum assured is payable even if the insured survives the policy term. ? If the insured dies during the tenure of the policy, the insurance firm has to pay the sum assured just as any other pure risk cover. ? A pure endowment policy is also a form of financial saving, whereby if the person covered remains alive beyond the tenure of the policy; he gets back the sum assured with some other investment benefits. In addition to the basic policy, insurers offer various benefits such as double endowment and marriage/ education endowment plans.The cost of such a policy is slightly higher but worth its value. Money back policy? These policies are structured to provide sums required as anticipated expenses (marriage, education etc) over a stipulated period of time. With inflation becoming a big issue, companies have realized that sometimes the money value of the policy is eroded. That is VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 12 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY why with-profit policies are also being introduced to offset some of the losses incurred on account of inflation. ?A portion of the sum assured is payable at regular intervals. On survival the remainder of the sum assured is payable. ? ? In case of death, the full sum assured is payable to the insured. The premium is payable for a particular period of time. Annuities and pensionIn an annuity, the insurer agrees to pay the insured a stipulated sum of money periodically. The purpose of an annuity is to protect against risk as well as provide money in the form of pension at regular intervals. Over the years, insurers have added various features to basic insurance policies in order to address specific needs of a cross section of people.ULIP planUnit linked insurance plan (ULIP) is life insurance solution that provides for the benefits of risk protection and flexibility in investment. The investment is denoted as units and is represented by the value that it has attained called as Net Asset Value (NAV). The policy value at any time varies according to the value of the underlying assets at the time. In a ULIP, the invested amount of the premiums after deducting for all the charges and premium for risk cover under all policies in a particular fund as chosen by the policy holders are pooled together to form a Unit fund.A Unit is the component of the Fund in a Unit Linked Insurance Policy. The returns in a ULIP depend upon the performance of the fund in the capital market. ULIP investors have t he option of investing across various schemes, i. e. , diversified equity funds, balanced funds, debt funds etc. It is important to remember that in a ULIP, the investment risk is generally borne by their investor. Life insurance companies in IndiaIn India, Insurance is a national matter, in which life and general insurance is yet a booming sector with huge possibilities for different global companies, as life insurance premiums ccount to 2. 5% and general insurance premiums account to 0. 65% of India's GDP. The Indian Insurance sector has gone through several phases and changes, especially after 1999, when the Govt. of VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 13 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY India opened up the insurance sector for private companies to solicit insurance, allowing FDI up to 26%. Since then, the Insurance sector in India is considered as a flourishing market amongst global insurance companies. However, the largest life insurance com pany in India is still owned by the government.Top 5 life insurance Company in India? Life Insurance Corporation of India (LIC): This remains the largest insurance company in India and is owned by the government. In 2008, LIC accounted for 64 percent market share. Although it is still the market leader, the company has to battle against the innovative strategies and better sales force of private enterprises. Life Insurance Corporation of India (LIC) registered an 83 per cent increase in new business income in March 2010, while private players posted a 47 per cent growth in new business premium. ICICI Prudential Life Insurance: This life insurance companies has attracted a loyal customer base with great customer support and a wide range of cheap policies to choose from. ? Bajaj Allianz general Insurance: This private company has been rising steadily in terms of market capture. It now sells the second most number of insurance policies in India after LIC and has been growing at a fast pace since 2006. ? Birla Sun Life Insurance: This Company has played its cards well. It offers a variety of insurance policies for the customers to choose from, provides them with attractive deals and offers great customer service and support.There is no reason why people shouldn’t prefer this one. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 14 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY ? SBI Life: Though a little slow on the marketing propaganda, SBI Life has been consistently growing in the Indian life insurance market because of good service and a great brand image. Consumer perception for life insurance – According to the need life insurance is the second need of people, because nobody knows about future. Life is suffering from full of risk and incidents. Nobody knows that what would be a financial condition in coming time.To be secure about future people are speedily holding insurance policy. Insurance is actually a protection against economic l oss, by sharing the risk with others. â€Å"Consumers need Life Insurance because typically the need for income continues for those who are financially dependent on them, but there is no guarantee of their ability to earn consistently and for the rest of their life. Life insurance can help them safeguard the financial needs of their family. This need has become even more important due to steady disintegration of the prevalent Joint family system and emergence of nuclear families.The need to protect their family's ever growing needs is why they need Life Insurance†. Consumer buying behavior for buying life insurance policyA consumer buying behavior starts from need/requirement for product, then evaluation about product and decide product, which gives better satisfaction then take decision for buying. ? Need- Need or requirement is a primary model for buying a life insurance. A need arouse people to act of buy. Different person have different purpose for buying life insurance s uch as: investment for future security or family obligation (children education, children marriage) or risk cover.If there are individuals who depend on you for financial support, or if you work at home providing your family with such services as child care, cooking, and cleaning, you need life insurance. Older couples also may need life insurance to protect a surviving spouse against the possibility of the couple's retirement savings being depleted by unexpected medical expenses. And individuals with substantial VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 15 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY assets may need life insurance to help reduce the effects of estate taxes or to transfer wealth to future generations. Information search- After recognize need, they search for limited amount of information regarding loyal companies, and its plan according to their desire. At the next level the person may enter an active information search: looking for regarding insu rance, phoning friend, go online, meet to salesman and advertisement are rich source to gather information. ? Evaluation of alternatives- Having information about many companies, they evaluate which company giving better plan according to their’ admire within the budget. Second they look for certain benefits from the policy and stability of company.Third customer see Each insurance as a bundle of attributes with varying abilities for delivering the benefit sought to satisfy their need such as: ? ? Face Value — The original death benefit amount. Convertibility — Option to convert from one type of policy to another (whole life), usually without a physical examination. ? ? ? ? Cash Value — The savings portion of a policy that can be borrowed against or cashed in. Premiums — Monthly, quarterly, or yearly payments required to maintain coverage. Beneficiary — The individual(s) or entity (trust) that is designated as benefit recipient.Paid Up †” A policy requiring no further premium payments due to prepayment or earnings. ? â€Å"Customers evaluate all positive and negative point of services according to importance and give preference to a better plan provided by company. † Purchase decision-. In the evaluation stage, customer form preference among the company, full filling their requirements. But there are few factors, which can divert consumer mind set. ? Other person can make them advice for another investment like: share market, bond, mutual fund and bank deposit or other alternatives. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 16CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY ? ? ? ? ? ? ? An unsatisfied policy holder can divert their mind. Customer is not getting a loyal salesperson. Customer is influenced by perceived risk for losing money. The policy is not giving up as ones expected. They attracted for other best investment. Ones may be a policy holder and not getting benefit as ones expec ted, so he is not getting decision for buy. Customer may be from rural area, he is not getting belief at company cause of conservative thinking. â€Å"If Customers get satisfaction struggling from these all factor, then they make decide for buy insurance policy. The Purchase Decision The purchase decision in general is prompt by number of factors viz. Psycho graphical, Economical, Social, Political legal and Demographical.The list is not exhaustive but it is sufficient to have the deep understanding of the factors influencing the decision. Psycho graphical Factors are those factors, which includes the behavioral aspect of the individual viz. lifestyle, living standard. Here purchase decision in influenced by those issues that affect the lifestyle of the consumer or in the other that reflects the status. For e. g. purchase decision related to buying of car and that to Mercedes Benz. Talking specifically to the insurance sector, here customer will buy only that policy that has got hi gh premium or that type of policy which company is promoting to limited high-income level group only. For e. g. â€Å"Classic Life premier† policy of Birla Sun life insurance is meant for only those individual who can pay at least Rs. 25000/- per annum. Economical factorEconomical factors affect the purchase decision by influencing the issues pertaining to money and income level of the individual.Consumer will buy only that product which will not have any VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 17 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY negative effect on his pocket. For e. g. decision to buy an insurance policy is influenced by the deepness in the pocket. Social factorSocial factor affect the purchase decision by influencing the issues pertaining to social beliefs and morals. Person influenced by group and their family members. They buy mostly same plan from same company whether their friends or family members have it.Some time if ones want to buy a new plan from other companies, their family member remorse them to buy it. Political factorsPolitico legal is the macro level environment. It effects in a way, say IRDA has restricted the sale of Key Man Insurance policy through Term Plan only. Demographic factorDemographical factor is that factor which has got the maximum of its effect in the purchase decision of the product and especially if that product is life insurance product. It is so because these factors incorporate other above said factors and includes those factors that can influence the buying decision to maximum extent viz.Occupational factor (service/business), Age factor, Gender, Marital status factor and Income level etc. It cannot be denied that buying decision of the individual who is unmarried and is into business, having the income level of the range Rs. 2. 4 lakhs per annum, is into the age group of say 25 years have the entirely different approach towards purchase of the life insurance policy with the individu al who is into service and is married, is into the age group of, say 35, and is earning Rs. 30000/- per month.Keeping the above phenomena under consideration a study was conducted to know exactly to what extent Demographical factor has got its influence in purchase decision of the life insurance product. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 18 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY The Study This study, which was conducted in the city of Bangarmau (Utter Pradesh), covered almost 50 individual of different status. The duration of the study was almost one month. The method which we used to collect the information was through questionnaire and personnel interview.The data so collected was grouped according to the company of the consumer's choice from where they have purchased the product and further it was analyzed that what was the demographic profile of that consumer and result was thus generalized. The study covered 50 individuals, of which 84 % were fo und insured and 16 % uninsured. Of the total insured 75% were from 21-45 age group and 25 % were from age group 46-60. It was 78 % of the male who was there in the total insured and rest 22% were female. Occupation wise 40 % of the total insured were into service and 60 % into business.Thus the overall penetration of companies in to the psyche of consumer buying preference (based on the customer's purchase of a company's life insurance policy) is given in the graph as under: Types of consumer- There are two kinds of customers according to their region? Urban customer? Rural customer- I did my research in rural area. It is my home town name is Bangarmau. I find that people having lack of knowledge and awareness about life insurance. Here insurance adviser playing a vital role to make them aware and convenience them for buying life insurance policy.In the exact word I can say that people don’t buy policy here, they buy belief of adviser. They buy it on the basis of reputation a nd loyalty of insurance adviser. Here customer do not worry about their security, they buy it as a investment, which should give them good return in very short of time. I find that if adviser does not push them for having life insurance, number of people would be very less to buy life insurance. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 19 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY The main factor is unawareness, that’s why they do not believe at Pvt Company.They have fear about lost their money, because they don’t know what IRDA is and what it is work. QuestionnairesI prepared 13 questionnaires to know about consumers’ perception for buying life insurance policy. 1-Whether you have life insurance policy? life insurance 50 40 30 20 10 0 yes No 8 yes No 42 2- As what purpose did you buy it? VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 20 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY policy holder investment family obligation sa ving tax 10% 19% 71% 3-If yes, which company life insurance you have? COMPANYNO. OF POLICY (x-8. 4) HOLDER (x) S. D. LIC SBI Reliance ICICI Bajaj 26 4 6 0 6 17. 6 -4. 4 -2. 4 -8. 4 -2. 4 9. 11 I did survey around 50 people at Bangarmau. I find that consumer mostly prefer LIC for life insurance. Actually it is a business town and people do not have enough knowledge about regulatory authority, that’s why they do not believe on other Pvt. companies. I got above 60% people have policy of LIC out of 42 policyholder. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 21 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Three more Pvt.Insurance companies are providing service at Bangarmau, but consumers are less responsive for those companies, it is less than 40 % customer hold by these companies. Mean for all these customer towards company is 8. 4 and standard deviation is 9. 11. 4-What was the source of medium, you buy it? T. V. Insurance adviser Other 6 34 2 Here customer do not go at company to buy policy, they always need a agent to make them understand about the better plans and companies, which is good service responsiveness. Those people belong to the service sector, they influenced towards TV and other sources for buying policy -What is the feature of your policy attracted to you? Low premium High risk coverage Money back guarantee Reputation of company Agents convictions 2 2 12 3 23 VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABADPage 22 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Most of the policyholder in this region are businessman, they need only high growth of their money that’s why they maximum attracted by money back guarantee, but agent attracted them a lot. They make them understand better plans. Customer influenced by agents behavior and they believe upon company, what they suggest them. -Now you are satisfied with your policy? Satisfied Not satisfied Not respondent 36 4 2 7- People perception at appropriate age for buy ing life insurance policy? VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 23 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Age No. (X) Mean Standard deviation < 25 year 25-34 35-44 45-54 55-64 65 above 3 15 12 5 5 2 0. 6 3 2. 4 1 1 0. 4 1. 07 5. 36 4. 29 1. 78 1. 76 0. 71 Customer belongs to 25 -45 maximum prefer the insurance policy sake of growth of money and saving the tax. People, who are less than 25 year are students,

Blackness and Gothic depictions in American Literature

American writers have expressed their political and social views through their writing by attempting to establish a voice separate from Britain’s. Their fear of individual and national failure and their thirst for power consumes them and is evident in their writing. Washington Irving and Herman Melville involve the occupation of lawyers and Justices to bring in a patriotic element to influence residents of the young country as a way to share their concerns and inspire ambition. Their usage of metaphors and metonymy subtly convey a message of hope to white residents while, deflating the optimism of the soon to be freed slaves. This essay will prove that a critical reading of Melville’s â€Å"Bartleby, the Scrivener,† and Irving’s â€Å"The Legend of†¦show more content†¦Isolation is one of the central themes of â€Å"Bartleby, the Scrivener,† and is highlighted by the motif of the wall. The office, in which the story is placed, is located i n a chamber suite named, â€Å"No. ⎠¯ Wall-street† (5). Society and the narrator isolate Bartleby by enclosing him behind walls. The narrator does this by the putting up a â€Å"high green folding screen, which might entirely isolate Bartleby from my sight† (17) when he first joins the office staff. He establishes a dichotomous relationship with Bartleby to emphasize his superiority by physically putting up the wall. Bartleby is isolated by society when he is locked up in the alms-house and is â€Å"standing all alone in the quietest of the yards, his face towards a high wall† (218). Melville further demonstrates the seclusion of Bartleby by having the narrator place him at a desk in front of the window with â€Å"an unobstructed view of a lofty brick wall, black by age and everlasting shade† (5). Bartleby is denied all escape from his work with the view of the wall: â€Å"I placed his desk close up to a small side-window in that part of the room, a window which†¦commanded at present no view at all† (17). The narrator refers to the wall as a â€Å"dead-wall† (92, 126, 166) several times throughout the story. The trance, which Bartleby appears to be in, while gazing at the wall, creates an alternateShow MoreRelatedThe Whiteness of the Veil: Color and the veil in Hawthorne’s The Minister’s Black Veil and The Blithedale Romance1578 Words   |  6 Pagesand notes the repeated emphasis on the blackness of Father Hooper’s veil and the pallor as a reaction to it. â€Å"The design of this tale,† he asserts, â€Å"is one in which repeated patterns of light, then blackness, then whiteness meaningfully occur† (Blair 76). Similarly, Hawthorne’s novel The Blithedale Romance employs chiaroscuro for its characters, symbols and the veil motif in particular. Blair does not go further in his discussion of whiteness and blackness in â€Å"The Minister’s Black Veil† in rela tionRead More Religion as a Gothic Element in American Romanticism Essay1707 Words   |  7 PagesReligion as a Gothic Element in American Romanticism American Romanticism can be strongly defined through its use of Gothic elements. Webster’s defines gothic as of or relating to a style of fiction characterized by the use of desolate or remote settings and macabre, mysterious, or violent incidents (529). Pre-American Romantic writers, such as Anne Bradstreet and Jonathan Edwards, do not tend towards the gothic in their writings of religion and religious elements. Although God is mysterious